Debt Arrangements. KCP acknowledges that under the proposed terms of the Stockholders Agreement the Company's ability to repurchase equity of the Management Stockholders will depend on the terms of the Company's debt arrangements. KCP agrees that it will negotiate in good faith to obtain "baskets" under these debt arrangements in form and amounts customary for leveraged acquisition financing agreements.
Debt Arrangements. (1) Upon the accession taking effect, the total debts of the central budget of the German Democratic Republic which have accumulated up to this date shall be taken over by a federal Special Fund without legal capacity, which shall meet the obligations arising from debt servicing. The Special Fund shall be empowered to raise loans:
Debt Arrangements. The Company shall not enter into any further debt arrangements or modify any existing debt arrangements with the Senior Lenders that shall rank senior to the Notes, except with the consent of the Requisite Majority Holders.
Debt Arrangements. The current amounts outstanding under the Debt Documents are set out in the Disclosure Letter and all of the Contracts in respect of the Debt Documents have been duly entered into, have not been modified or terminated except as included in the Disclosure Letter and are in good standing in all material respects and in full force and effect with no amendments. All of the Debt Documents are valid and binding obligations of the parties thereto enforceable in accordance with their respective terms, subject to bankruptcy, insolvency and other Laws affecting creditors’ rights generally and to general principles of equity. Except for the disclosures contained in the Disclosure Letter, Cxxxxx Resources has complied with all material terms thereof, has paid all amounts due thereunder, has not waived any rights thereunder and no default or breach exists in respect thereof on the part of any of the parties thereto and no event has occurred which, after the giving of notice or the lapse of time or both, would constitute such a default or breach.
Debt Arrangements. 1. Credit Agreement with Norrep Credit Opportunities Fund Inc.: Xxxxxx Resources entered into a credit agreement with Norrep Credit Opportunities Fund Inc., in its capacity as General Partner of Norrep Credit Opportunities Fund II, LP and Norrep Credit Opportunities Fund II (Parallel), LP (“Norrep”) dated April 5, 2013 (the “Norrep Credit Agreement”). Pursuant to the Norrep Credit Agreement, Xxxxxx Resources borrowed from Norrep the principal amount of $25,000,000. To secure the loan, Norrep was granted a fixed and floating charge security interest in all of the undertaking and property of Xxxxxx Resources, including: · all accounts; · all chattel paper, instruments, documents of title and intangibles (including, without limitation, all patents, patent applications, trade-marks, trade-xxxx applications, tradenames, trade secrets, goodwill, copyrights, registrations, licenses, franchises, customer lists, tax refund claims, claims against carriers and shippers, guarantee claims, contracts rights, security interests, security deposits and any rights to indemnification); · all inventory; · all goods (other than inventory) including equipment, vehicles and fixtures; · all deposits and cash and any other property of Xxxxxx Resources in the possession, custody or control of the Lender or any agent or any parent, affiliate or subsidiary of the Lender or any participant with the Lender in the loan for any purpose; · all real, immovable and leasehold property of Xxxxxx Resources and all easements, rights-of-ways, privileges, benefits, licenses, improvements and rights of Xxxxxx Resources whether connected therewith or appurtenant thereto or separately owned or held, including without limitation, all structures, plants and other fixtures; and · all additions and accessions to, substitutions for, and replacements, products and proceeds of the foregoing property, including without limitation, proceeds of all insurance policies insuring the foregoing property, and all of Xxxxxx Resources’ books and records relating to any of the foregoing and to Xxxxxx Resources’ business. Norrep filed with the Ministry of the Economy a notice respecting its security interest against all the Property, along with a demand debenture dated April 5, 2013 detailing the particulars of the security pursuant to the Norrep Credit Agreement. In addition, Xxxxxx Resources entered into a waiver and credit amendment agreement with Norrep on February 14, 2014 (the “Credit Amendment Agreement”). Pursu...
