Borrower Criteria Sample Clauses

Borrower Criteria. With respect to Borrower, a “Single Purpose Entity” means a corporation, limited partnership or limited liability company which, at all times since its formation and thereafter:
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Borrower Criteria. With respect to Borrower, a “Single Purpose Entity” means a corporation, limited partnership or limited liability company which, at all times since the date of this Agreement and thereafter until the Loans have been paid in full: (A) shall not engage in any business or activity, other than the ownership, operation and maintenance of the Mortgaged Property and activities incidental thereto; (B) shall not acquire or own any assets other than the Mortgaged Property and such incidental personal property as may be necessary or desirable for the operation of the Mortgaged Property; (C) [Intentionally Omitted]; (D) [Intentionally Omitted]; (E) [Intentionally Omitted]; (F) shall preserve its existence as an entity duly organized, validly existing and in good standing (if applicable) under the laws of the jurisdiction of its formation or organization; (G) shall not merge or consolidate with any other Person; (H) shall not (i) take any action to dissolve, wind-up, terminate or liquidate in whole or in part; (ii) sell, transfer or otherwise dispose of all or substantially all of its assets (other than leasing in the ordinary course of business in accordance with this Agreement); to change its legal structure; (iii) transfer or permit the direct or indirect transfer of any partnership, membership or other equity interests, as applicable; (iv) except to Guarantor, issue additional partnership, membership or other equity interests, as applicable; or (v) seek to accomplish any of the foregoing; (I) shall not, without the unanimous written consent of all Borrower's partners, members, or shareholders, as applicable: (1) file or consent to the filing of any petition, either voluntary or involuntary, to take advantage of any applicable insolvency, bankruptcy, liquidation or reorganization statute; (2) seek or consent to the appointment of a receiver, liquidator or any similar official; or (3) make an assignment for the benefit of creditors; (J) shall not amend or restate its organizational documents if such change would adversely impact the requirements set forth in this §7.21; (K) notwithstanding anything in this Agreement or any other Loan Document to the contrary, shall not own any subsidiary or make any investment in, any other Person; (L) except for the participation of Borrower in the consolidated management of cash balances with the Guarantor, shall not commingle its assets with the assets of any other Person; (M) shall not, incur any debt, secured or unsecured, direc...
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Borrower Criteria. With respect to Borrower, “Separateness Provisions” shall mean a corporation, limited partnership or limited liability company which, at all times since its formation and thereafter:
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Related to Borrower Criteria

  • Evaluation Criteria 5.2.1. The responses will be evaluated based on the following: (edit evaluation criteria below as appropriate for your project)

  • Issuing Lender Reporting Requirements Each Issuing Lender shall, on the first Business Day of each month, provide to Administrative Agent and Borrower a schedule of the Letters of Credit issued by it, in form and substance satisfactory to Administrative Agent, showing the date of issuance of each Letter of Credit, the account party, the original face amount (if any), and the expiration date of any Letter of Credit outstanding at any time during the preceding month, and any other information relating to such Letter of Credit that the Administrative Agent may request.

  • Selection Criteria Each Contract is secured by a new or used Motorcycle. No Contract has a Contract Rate less than 1.00%. Each Contract amortizes the amount financed over an original term no greater than 84 months (excluding periods of deferral of first payment). Each Contract has a Principal Balance of at least $500.00 as of the Cutoff Date.

  • Borrower Information Used to Determine Applicable Interest Rates The parties understand that the applicable interest rate for the Obligations and certain fees set forth herein may be determined and/or adjusted from time to time based upon certain financial ratios and/or other information to be provided or certified to the Lenders by the Borrower (the “Borrower Information”). If it is subsequently determined that any such Borrower Information was incorrect (for whatever reason, including without limitation because of a subsequent restatement of earnings by the Borrower) at the time it was delivered to the Administrative Agent, and if the applicable interest rate or fees calculated for any period were lower than they should have been had the correct information been timely provided, then, such interest rate and such fees for such period shall be automatically recalculated using correct Borrower Information. The Administrative Agent shall promptly notify the Borrower in writing of any additional interest and fees due because of such recalculation, and the Borrower shall pay such additional interest or fees due to the Administrative Agent, for the account of each Lender, within five (5) Business Days of receipt of such written notice. Any recalculation of interest or fees required by this provision shall survive the termination of this Agreement, and this provision shall not in any way limit any of the Administrative Agent’s, the Issuing Bank’s, or any Lender’s other rights under this Agreement.

  • General Criteria (a) If general criteria are required as part of the Application, only one (1) set shall be completed. General criteria measure the quality of the Land Manager’s overall OHV program. The Applicants shall answer these questions with respect to the entirety of the OHV operation, including all trails and areas available for OHV Recreation, not just specific Projects or Project Areas. (b) General criteria include, but are not limited to, the following: (1) OHV Opportunity and services provided, (2) Agency contribution to the overall cost of managing and delivering the OHV Opportunity, (3) Management of natural and Cultural Resources, (4) Effective education of rules/regulations, and (5) Past performance in completing and administering ▇▇▇▇▇ funded Projects. (c) Non-land manager Applicants required to complete the general criteria shall cooperate with the Land Manager(s) to obtain the information necessary to complete the general criteria section of the Application. Note: Authority cited: Sections 5001.5 and 5003, Public Resources Code. Reference: Sections 5024.1, 5090.32 and 5090.50, Public Resources Code.