AGREEMENTS BY BORROWER Sample Clauses
The 'Agreements by Borrower' clause outlines the specific promises and obligations that the borrower undertakes as part of a loan or credit agreement. Typically, this includes commitments such as making timely payments, maintaining insurance, providing financial information, and complying with applicable laws. By clearly stating these responsibilities, the clause ensures that both parties understand the borrower's duties, thereby reducing the risk of misunderstandings or defaults during the term of the agreement.
AGREEMENTS BY BORROWER. During the Standstill Period, the Borrower agrees that:
(a) it shall not permit the aggregate amount of cash expended or paid in excess of cash received, in each case in an aggregate amount by the Borrower and its Subsidiaries, on a consolidated basis during the Standstill Period, to exceed $30,000,000; PROVIDED that notwithstanding the forgoing, the payments previously disclosed to the Agent and the Lenders in writing may also be made during the Standstill Period (which payments the Borrower represents and warrants will be made in the ordinary course of business and in a manner that is no sooner than is consistent with past practice);
(b) subject to Section 2(d) and 4(a) hereof, it shall, at all times during the Standstill Period, with respect to the proceeds of the Advance, (i) maintain all such proceeds in the deposit or security accounts in which such proceeds are currently deposited and (ii) not use or expend the amounts in such accounts for any purpose (it being understood that such amounts are and may continue to be invested in short-term money market funds during such period);
(c) amounts repaid pursuant to Section 2(d) and 4(a) hereof may not be reborrowed; and
(d) if, at any time during the Standstill Period, Deutsche Bank AG New York Branch ("DEUTSCHE BANK") makes available for the account of the Borrower, in readily available funds at such account as may be designated by the Borrower, an amount equal to $127,500,000 (the "DEUTSCHE BANK FUNDING"; such amount representing Deutsche Bank's ratable share of the $850,000,000 Revolving Credit Advance requested by the Borrower to be made on July 22, 2002, and constituting for all purposes hereunder when made a portion of the Advance), the Borrower shall by no later than the next Business Day thereafter repay to the Agent, for the benefit of Deutsche Bank, an aggregate principal amount of $33,088,235; such amount being a voluntary repayment of an equivalent portion of the Deutsche Bank Funding (it being understood that the Deutsche Bank Funding may alternatively be made by Deutsche Bank net of $33,088,235).
AGREEMENTS BY BORROWER. From and after the Effective Date through the Forbearance Period Termination Date, each Loan Party shall comply with its obligations under the Loan Documents (other than in respect of the Specified Defaults). Without limiting the foregoing, during the Forbearance Period, each Loan Party shall promptly provide such information concerning the Specified Defaults as the Administrative Agent or the Required Lenders may reasonably request from time to time.
AGREEMENTS BY BORROWER. The Borrower hereby agrees as follows (such agreements to remain in effect until such time when the principal of and interest on each Loan and all fees and other Obligations shall have been paid in full in cash): The Borrower shall not:
a. Except as provided in Section 5 below, make any payment or give any value in cash or in kind to Subordinated Creditor, directly or indirectly, on account of the Subordinated Debt Obligations.
b. Set off, establish a contra account, or otherwise apply, all or any part of any obligation of Subordinated Creditor to the Borrower towards satisfaction of the Subordinated Debt Obligations.
c. Amend in a manner adverse to the Administrative Agent and the Lenders the Subordinated Debt Documents or alter, amend, or change any term of payment of the Subordinated Debt Obligations (other than the forgiveness of the Subordinated Debt Obligations in whole or in part or extension of any payment date therefor).
d. Execute, give, or deliver any collateral for, the Subordinated Debt Obligations or any other obligation of the Borrower to Subordinated Creditor under the Subordinated Debt Documents.
AGREEMENTS BY BORROWER. From and after the Effective Date through the Forbearance Period Termination Date, each Borrower and Guarantor shall comply with its obligations under the Other Documents (other than in respect of the Specified Defaults). Without limiting the foregoing, during the Forbearance Period, each Borrower and Guarantor shall promptly provide such information concerning the Specified Defaults as the Agent or the Required Lenders may reasonably request from time to time.
AGREEMENTS BY BORROWER. Borrower hereby agrees as follows (such agreements to remain in effect until six months following the last to occur of (i) the expiration or termination of the Commitments, (ii) the indefeasible payment in full in cash of principal of and interest on each Loan and all fees and other Obligations, (iii) the expiration, termination, cash collateralization or backstopping by a letter of credit reasonably acceptable to Agent and the Issuing Bank of all Letters of Credit, and (iv) the reimbursement of all Letter of Credit Disbursements): Borrower shall not:
a. Except as provided in Section 5 below, make any payment or give any value in cash or in kind to Subordinated Creditor, directly or indirectly, on account of the Subordinated Debt Obligations.
b. Set off, establish a contra account, or otherwise apply all or any part of any obligation of Subordinated Creditor to the Borrower towards satisfaction of the Subordinated Debt Obligations.
c. Amend in a manner adverse to Agent and the Lenders the Subordinated Debt Documents or alter, amend, or change any term of payment of the Subordinated Debt Obligations (other than the forgiveness of the Subordinated Debt Obligations in whole or in part or extension of any payment date therefor).
d. Execute, give, or deliver any collateral for, the Subordinated Debt Obligations or any other obligation of the Borrower to Subordinated Creditor under the Subordinated Debt Documents.
AGREEMENTS BY BORROWER. Subject to Section 4.2, from and after the Effective Date through the Forbearance Period Termination Date, each Loan Party shall comply with its obligations under the Loan Documents, except to the extent (but only to the extent) that failure to so comply during the Forbearance Period shall constitute a Known Default. Without limiting the foregoing, during the Forbearance Period, each Loan Party shall promptly provide such information concerning the Known Defaults as the Agent or the Required Lenders may reasonably request from time to time.
AGREEMENTS BY BORROWER. From and after the Effective Date through the Forbearance Period Termination Date, and notwithstanding anything to the contrary contained in the Credit Agreement or the other Credit Documents, the Borrower shall not, and shall not permit any of its Subsidiaries to, without the prior written consent of the Majority Lenders: