U.S. Obligor definition
Examples of U.S. Obligor in a sentence
This Section is not for the benefit of or enforceable by any US Obligor, and no US Obligor has any right to direct the application of payments or US Collateral proceeds subject to this Section.
Monies and proceeds obtained from a US Obligor shall not be applied to its Excluded Swap Obligations, but appropriate adjustments shall be made with respect to amounts obtained from other US Obligors to preserve the allocations in any applicable category.
Schedule 7.4.1 sets forth all Equity Interests and Investment Property owned by each US Obligor as of the Closing Date (as such schedule shall be updated in accordance with this section, the "Pledged Interests") and each US Obligor hereby pledges, collaterally assigns, transfers and conveys, and grants a security interest in and Lien on, in favor of the Agent, for the benefit of the Secured Parties, all of such Obligor’s right, title and interest in, to, and under the Pledged Interests owned by it.
For the avoidance of doubt and notwithstanding anything to the contrary hereunder or under any other Loan Document, each Obligor party hereto acknowledges and agrees that (i) the UK Borrower and each other UK Incorporated Obligor is a UK Obligor and a US Guarantor and (ii) each US Borrower and each other US Incorporated Obligor is a US Obligor and UK Guarantor.
Concurrently with the delivery of each Compliance Certificate pursuant to Section 10.1.2(d), each US Obligor shall notify Agent of any update to Schedule 7.4.1 for any Pledged Interests acquired since the last delivered Compliance Certificate.