Upstream Owner definition

Upstream Owner means any Person having a direct or indirect legal, beneficial or other ownership interest in Borrower (e.g., if Borrower is a limited liability company, and one of Borrower’s members is a limited partnership, whose partner is a corporation, then such limited partnership, corporation and the shareholders of such corporation would each be an Upstream Owner).

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Upstream Owner means any Person having a direct or indirect legal, beneficial or other ownership interest in Borrower (e.g., if Borrower is a limited liability company, and one of Borrower’s members is a limited partnership, whose partner is a corporation, then such limited partnership, corporation and the shareholders of such corporation would each be an Upstream Owner); provided, however, to the extent Indemnitor remains a publicly traded company, Upstream Owner shall not include any shareholder of, or Person having a direct or indirect legal and/or beneficial ownership interest in, Indemnitor.

Upstream Owner has the meaning assigned in the Loan Agreement.

Examples of Upstream Owner in a sentence

• In furtherance of the foregoing, subordinate liens (voluntary or involuntary) secured by any portion of the Mortgaged Property, or any beneficial interest in the Mortgaged Property, and any other financing obtained by Borrower or any Upstream Owner secured by any direct ownership interest in Borrower, shall not be permitted except with the prior written consent of Lender in each case.

• Further, until full repayment of the Indebtedness, neither Borrower nor any Upstream Owner shall receive any Residential Unit Net Sale Proceeds.

• Further, subject to [***] Section 2.7(e), until full repayment of the Indebtedness, neither Borrower nor any Upstream Owner shall receive any Residential Unit Net Sale Proceeds.

• Further, until full repayment of the Indebtedness, none of Borrower, Additional Pledgor or Mortgage Borrower or any Upstream Owner shall receive any Required Residential Unit Release Proceeds or Required Retail Unit Release Proceeds.

• Further, until full repayment of the Indebtedness, none of Borrower, Mortgage Pledgor or Mortgage Borrower or any Upstream Owner shall receive any Residential Unit Net Sale Proceeds.

More Definitions of Upstream Owner

Upstream Owner means any Person having a direct or indirect legal, beneficial or other ownership interest in Borrower (e.g., if Borrower is a limited liability company, and one of Borrower's members is a limited partnership, whose partner is a corporation, then such limited partnership, corporation and the shareholders of such corporation would each be an Upstream Owner).

Upstream Owner means any holder of an Equity Interest or any entity that directly or indirectly owns an equity interest in a holder of Equity Interests.

Upstream Owner means any Person having a direct or indirect legal, beneficial or other ownership interest in Borrower, Mortgage Borrower or Additional Pledgor (e.g., if Borrower, Mortgage Borrower or Additional Pledgor is a limited liability company, and one of Borrower’s, Mortgage Borrower’s or Additional Pledgor’s members is a limited partnership, whose partner is a corporation, then such limited partnership, corporation and the shareholders of such corporation would each be an Upstream Owner); provided, however, to the extent Indemnitor remains a publicly traded company, Upstream Owner shall not include any shareholder of, or Person having a direct or indirect legal and/or beneficial ownership interest in, Indemnitor.

Upstream Owner or "Upstream Ownership" means a business entity that has a direct or indirect ownership interest in CalPeco, as per Commission Decision (D.) ▇▇-▇▇-▇▇▇, at Ordering Paragraph (O.P.) 1, subdivision (b) ("[A]ny change of ownership affecting CalPeco's upstream owners must be sought by application filed pursuant to Public Utilities Code Section 854."13).

Upstream Owner means any Person having a direct or indirect legal, beneficial or other ownership interest in Borrower (e.g., if Borrower is a limited liability company, and one of Borrower’s members is a limited partnership, whose partner is a corporation, then such limited partnership, corporation and the shareholders of such corporation would each be an Upstream Owner), but excluding any Person who would be considered an Upstream Owner solely due to such Person’s direct or indirect legal, beneficial or other ownership interest in the publicly traded securities of an Upstream Owner and any Person who holds an Operating Partnership unit in Strategic issued from and after the date hereof in connection with the acquisition by Strategic, or any subsidiary thereof, of additional assets from and after the date hereof.

Upstream Owner. Any person or other legal entity that (a) directly or indirectly holds an interest in, or acquires control of, any Major Owner, or (b) by virtue of a contemplated purchase or other transfer will hold an interest in, or acquire control of, any Major Owner, and, in either case (a) or (b), such person or other legal entity derives or will derive more than [_______] percent of its gross revenue from the Project.

Upstream Owner of any Person means any other Person that directly or indirectly owns (whether through any Subsidiary or otherwise) any capital stock of, interest in the capital or profits of, or beneficial interest in, such first Person.