Designated Foreign Subsidiary definition
Examples of Designated Foreign Subsidiary in a sentence
Revolving Credit Loans made to the U.S. Borrower may be Base Rate Loans or Eurodollar Rate Loans, as further provided herein, and all Revolving Credit Loans made to any Designated Foreign Subsidiary Borrower shall be Eurodollar Rate Loans (or, if denominated in Dollars, may also be made as Base Rate Loans) as further provided herein.
No Designated Foreign Subsidiary Borrower shall be permitted to convert any Eurodollar Rate Loans denominated in Alternative Currency to Base Rate Loans.
The Administrative Agent will promptly notify the Lenders of any such termination of a Designated Foreign Subsidiary Borrower’s status.
The U.S. Borrower waives diligence, presentment, protest, demand for payment and notice of default or nonpayment to or upon the Designated Foreign Subsidiary Borrowers or the U.S. Borrower with respect to the Designated Foreign Subsidiary Borrower Obligations.
This Guaranty shall remain in full force and effect until the Designated Foreign Subsidiary Borrower Obligations are paid in full and the Commitments are terminated, notwithstanding that from time to time prior thereto the Designated Foreign Subsidiary Borrowers may be free from any Designated Foreign Subsidiary Borrower Obligations.