Borrowers definition
Examples of Borrowers in a sentence
None of the Borrowers nor any of their Restricted Subsidiaries is a “covered foreign person” as that term is used in the Outbound Investment Rules.
The Administrative Agent may consult with legal counsel (who may be counsel for the Borrowers), independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts.
None of the Borrowers nor any of their Restricted Subsidiaries currently engages in, or has any present intention to engage in the future, directly or indirectly, in a “covered transaction” in which the relevant “covered foreign person” engages in any activity referred to in the definition of “prohibited transaction”, as each such term is defined in the Outbound Investment Rules.
All outstanding shares of capital stock of the Borrowers have been duly and validly issued and are fully paid and non-assessable (other than any assessment on the shareholders of the Borrowers that may be imposed as a matter of law) and are owned by (i) Holdings, with respect to the shares of Lead Borrower and (ii) a Credit Party, with respect to the shares of any other Borrower.
Promptly following any request therefor, the Borrowers shall provide information and documentation reasonably requested by the Administrative Agent or any Lender for purposes of compliance with applicable “know your customer” and anti-money laundering rules and regulations, including, without limitation, the PATRIOT Act and the Beneficial Ownership Regulation.