Initial Borrower definition
Examples of Initial Borrower in a sentence
After such filing, the Initial Borrower shall not withdraw its Form N-54A filed with the SEC electing to be treated as a business development company.
Any acknowledgment, consent, direction, certification or other action which might otherwise be valid or effective only if given or taken by such Credit Parties, or by each Credit Party acting singly, shall be valid and effective if given or taken only by the Initial Borrower, whether or not any such other Credit Party joins therein.
No Credit Party (other than the Initial Borrower) is required to be registered as an “investment company” within the meaning of the Investment Company Act.
At least ten (10) Business Days prior written notice to the Administrative Agent of the Initial Borrower or the Management Company’s intention to terminate, or prompt notice of any request by an Initial Specified Investor to terminate, its Specified Investor Shareholder Agreement.
Each Credit Party hereby irrevocably appoints the Initial Borrower as its agent for all purposes relevant to this Credit Agreement and each of the other Loan Documents, including (a) the giving and receipt of notices and (b) the ability to reduce, increase or extend the Credit Facility.