Examples of Borrower Security Trustee in a sentence
No Obligor may compromise or settle any claim, litigation or arbitration without prior notification to the Borrower Security Trustee if any such compromise or settlement would be reasonably likely to have a Material Adverse Effect.
In providing its consent or making a determination hereunder the Borrower Security Trustee shall take instructions from the Borrower Secured Creditors to the extent required or permitted and in each case in the manner set out in the STID.
No Administrative Party (other than the Borrower Security Trustee and the Borrower Account Bank) need hold in trust any moneys paid to it for a Party or be liable to account for interest on those moneys.
Unit-based compensation expense of $3,878 was recorded to amortize the fair value of the unit-based compensation over the term of the services agreement.
In respect of each Loan Event of Default requiring any action or discretion on the part of the relevant creditor, the Borrower Security Trustee will act in accordance with the relevant provisions of the STID.
Nothing in the Finance Documents makes an Administrative Party (other than the Borrower Security Trustee) a trustee or fiduciary for any other Party or any other person.
Prior to the occurrence of a Trigger Event, the Borrower Security Trustee will not be entitled to request the review of the information provided to it by the Security Group Agent, the Auditors or (as the case may be) Reporting Accountants at the cost of the Obligors on more than five occasions in any Five Year Period.
No Obligor may, without the prior written consent of the Borrower Security Trustee, consent to any material amendment to, waive any material provision of, or terminate the Cross-Licensing Agreement (other than pursuant to clause 4.2 thereof) or a Hardware Lease (other than pursuant to clause 7.1 thereof) to which it is a party.
Where the Borrower Security Trustee is not willing or able to exercise its discretion, approval from relevant Qualifying Borrower Secured Creditors (which do not include providers of liquidity or hedge counterparties) is required.
Any person wishing to become a Finance Party shall, upon execution and delivery by such person or their duly authorised representative to the Borrower Security Trustee, of an Accession Memorandum, acceding to the STID and this Agreement (together with the supporting documentation referred to in that Accession Memorandum), be bound by the provisions of the STID and this Agreement as if the terms set out therein were incorporated in full into the arrangements made between that person and the Obligors.