Examples of Subsidiary Borrower Termination in a sentence
Upon the occurrence of a Subsidiary Borrower Termination Event with respect to any Subsidiary Borrower, such Subsidiary Borrower (a “Terminated Subsidiary Borrower”) shall cease to be a Borrower for purposes of this Agreement and shall no longer be entitled to request or borrow Advances hereunder.
The Company may, at any time, terminate a Subsidiary Borrower as a Borrower hereunder by delivering to the Managing Administrative Agent a written notice thereof (each a “ Subsidiary Borrower Termination Notice ”), substantially in the form of Exhibit E-2 or any other form approved by the Managing Administrative Agent, such approval not to be unreasonably withheld or delayed.
The Form of New Borrower Agreement set forth as Exhibit C-2 to the Credit Agreement and the Form of Subsidiary Borrower Termination set forth as Exhibit C-3 to the Credit Agreement are hereby amended by deleting such Forms in their entirety and substituting therefor the Form of New Borrower Agreement and Form of Subsidiary Borrower Termination set forth as Schedule 1 and Schedule 2 hereto, respectively.
Notwithstanding anything else in this Section 2.23 to the contrary, no Subsidiary Borrower Termination will become effective as to any Subsidiary Borrower at a time when any principal of or interest on any Loan to such Borrower shall be outstanding hereunder, provided that such Subsidiary Borrower Termination shall be effective to terminate the right of such Subsidiary Borrower to make further Borrowings under this Agreement.
Upon the occurrence of a Subsidiary Borrower Termination Event with respect to any Subsidiary Borrower, such Subsidiar Borrower (a "Terminated Subsidiary Borrower”) shall cease to be a Borrower for purposes of this Agreement and shall no longer be entitled to request or borrow Advances hereunder.