Existing Lender Sample Clauses
The 'Existing Lender' clause defines and identifies the current lender or lenders involved in a financial agreement or transaction. This clause typically specifies the parties who have provided financing prior to any new arrangements, such as refinancing, restructuring, or the introduction of additional lenders. For example, it may list the names of banks or financial institutions that hold outstanding loans or credit facilities with the borrower. The core function of this clause is to clearly establish which parties are considered existing lenders for the purposes of the agreement, thereby ensuring clarity in rights, obligations, and the prioritization of claims among all involved parties.
Existing Lender. The rights and obligations of the Assignee resulting form this Agreement are in addition to, and not in substitution for, the rights and obligations that the Assignee may otherwise have as Lender under the Credit Agreement.
Existing Lender. The holder of the Existing Encumbrances, and its heirs, successors and assigns. Existing Leases. As defined in the Preamble. -3- Existing SNDA. The subordination, non-disturbance and attornment agreements of even date with the Existing Encumbrances, as amended, affecting the Leased Property executed by Lessee, Lessor and Existing Lender.
Existing Lender. Notwithstanding anything to the contrary contained herein, if on or prior to the Effective Date Assignee fails to obtain (and deliver a copy thereof) a proper satisfaction of the Mortgage Loan signed by the Existing Lender (the "Satisfaction"), then the following terms and conditions shall apply, all of which shall survive the Effective Date:
(i) From and after the Effective Date, Assignee shall use commercially reasonable efforts to obtain the Satisfaction as soon as possible, whereupon Assignee shall promptly deliver a copy thereof to Assignor.
(ii) Assignee shall indemnify Assignor and the other Assignor Parties from and against any and all Claims arising out of or resulting from Assignee's failure to have obtained the Satisfaction, and shall reimburse Assignor for any costs and expenses (including, without limitation, attorneys' fees and disbursements) incurred in connection therewith.
(iii) The Assignment Payment (the "Escrow Funds") shall not be paid pursuant to Section 1.4 above, but rather it shall be deposited in escrow with the attorneys for Assignee ("Escrow Agent") and held and applied as follows:
(A) Escrow Agent shall invest the Escrow Funds in an interest bearing money market account in a Nassau County branch of Citibank, N.
A. Escrow Agent shall not be liable for any losses suffered in connection with any such investment and shall have no obligation to obtain the best rate, or otherwise seek to maximize the rate, of interest earned on any such investment. Any customary fees or charges in connection with such investment shall be paid out of the amounts held in escrow before any other payments shall be required to be made from such amounts; it being agreed that Escrow Agent shall not charge any fee for acting as escrow agent hereunder. Any interest earned on the Escrow Funds shall be paid to the same party entitled to the Escrow Funds hereunder (as and when such party is entitled to the Escrow Funds), and the party receiving such interest shall pay any income taxes thereon.
(B) Upon the delivery of a copy of the Satisfaction to Assignor (a copy of which shall simultaneously be delivered to Escrow Agent), the escrow created by this Section 7.12 shall be released, whereupon Escrow Agent shall hold and apply the Escrow Funds pursuant to the Assignment Payment Escrow Agreement; provided, however, if a copy of the Satisfaction is not delivered to Assignor on or before the date that is six (6) months after the Effective Date, then the Escrow Funds ...
Existing Lender. New Lender: Agent: Borrower:
Existing Lender. Truist Bank.
Existing Lender. The lender shown in the preliminary title report as holding the senior mortgage on the Property.
Existing Lender. “Existing Lender” shall mean Deutsche Bank Berkshire Mortgage, as successor-in-interest to Patrician Financial Company Limited Partnership.
Existing Lender. (a) The Existing Lender hereby agrees that on the Increase Effective Date, its Revolving Credit Commitment shall be decreased to the amount set forth opposite its name on Exhibit B hereto under the caption “Revolving Commitment” and its Term Commitment shall be increased to the amount set forth opposite its name on Exhibit B hereto under the caption “Term Commitment”.
(b) The Existing Lender hereby agrees to make a Term Loan to the Borrower on the Increase Effective Date in the amount set forth opposite its name on Exhibit A hereto under the caption “Amount of Participation in Incremental Term Increase”, causing the aggregate amount of Term Loans made by it to equal its increased Term Commitment as set forth opposite its name on Exhibit B hereto, in accordance with the conditions and procedures set forth in Section 2.02 and 4.02 of the Credit Agreement.
Existing Lender. The Prudential Insurance Company of America, and any successor holder of the Existing Mortgage.
Existing Lender. The Indebtedness owed to the Existing Lender shall have been paid in full.