Consent of Creditors. Seller, SFC, Xxxxxxx Xxxxx and Xxxxxxxx Xxxxx shall use their best efforts in good faith to obtain and timely deliver to Buyer, the written consents of Lenders as required by Section 8 of the Settlement Agreement. Failure to do so shall constitute a default under this Asset Purchase Agreement and under the Settlement Agreement.
Consent of Creditors. A registrant must actively seek to obtain the consent of all creditors to the debt management services plan set forth in the debt management services agreement. Consent by a creditor may be express and in writing, or may be evidenced by acceptance of a payment made under the debt management services plan set forth in the contract. The registrant must notify the debtor within ten days after any failure to obtain the required consent and of the debtor's right to cancel without penalty. The notice must be in a form as the commissioner shall prescribe. Nothing contained in this section is deemed to require the return of any origination fee and any fees earned by the registrant prior to cancellation or default.
Consent of Creditors. At or prior to the Closing, the Seller shall have obtained the written consent of substantially all of the creditors set forth on Schedule 5.9 attached hereto, in a form reasonably satisfactory to the Investors, to the terms of the Assignment and Assumption Agreement.
Consent of Creditors. Each Creditor consents to the granting or assuming by the Credit Parties of the security constituted by the Security Documents and the incurring or assuming by the Credit Parties of the Obligations, and confirms that such action does not and will not constitute a default under or otherwise contravene any terms of the Obligations held by such Creditor.
Consent of Creditors. The consents required under the existing indebtedness of Seller and certain Subsidiaries of Seller necessary to consummate the transactions contemplated hereby shall have been obtained.
Consent of Creditors. The Seller shall receive consent to perform the obligations under this Agreement from their banks and other creditors.
Consent of Creditors. The Parties shall inform the creditors of the Schaeff Grundbesitz GbR in writing immediately upon the conclusion of this Agreement of the agreed Assumption of Debt which shall be performed as of Closing (as defined hereinafter). The Parties shall make a joint effort and shall take all necessary measures, in particular shall submit all necessary declarations, to ensure that the creditors give their written consent to the agreed Assumption of Debt. This applies in particular with regard to the liabilities and security agreements named in Section 4.2 and Section 4.3
Consent of Creditors. IDI has obtained, or will obtain before Closing, all --------------------- necessary consents and releases with respect to the transactions contemplated by this Agreement from IDI's lenders, said lenders have executed and recorded, prior to Closing, releases of any and all liens or security interests covering the Directories and other assets to being purchased by XxXxxx pursuant to this Agreement, and copies of such consents and releases will be delivered by IDI to XxXxxx on or before Closing. A List of Lenders prepared by IDI identifying all lenders from whom consents and releases are needed is attached as Exhibit "G" and incorporated herein by this reference. In the event the conditions set out in this section are not satisfied, or are violated, XxXxxx will so notify IDI. Closing will be postponed for a period of not more than fourteen (14) days and IDI will satisfy the condition or correct the violation prior to the postponed Closing. If the conditions remain unsatisfied or the violations remain uncorrected for fourteen days after notice to IDI, XxXxxx may declare this Agreement null and void and shall be entitled to an immediate return of all amounts paid by it pursuant to this Agreement.
Consent of Creditors. The Creditors, relying upon the representations and warranties on the part of the Supplemental Parties contained in clause 4, agree with the Borrowers that, subject to the terms and conditions of this Agreement and in particular, but without prejudice to the generality of the foregoing, fulfilment on or before 7 February 2011 of the conditions contained in clause 5 and schedule 2, the Creditors consent to:
2.1 the substitution of the Outgoing Manager by the New Manager as commercial and technical manager of the Ships;
2.2 the amendment of the Existing Documents on the terms set out in clause 3; and
2.3 the change of the process agent of the Borrowers and the other Supplemental Parties under the Existing Documents and the other Security Documents from Ince & Co. to Process Agents Ltd..
Consent of Creditors. Seller and Stockholders will exercise their best efforts to obtain any and all necessary consents of secured creditors with respect to the transaction contemplated by this Agreement.
