Existing Loan Agreement. The Seller will use the proceeds of the Transactions to pay off in full any indebtedness under the Existing Loan Agreement and will secure the complete and unconditional release by the lender(s) thereunder of all Liens thereunder.
Existing Loan Agreement. Borrowers shall have terminated the Loan Agreement (and any documents executed in connection therewith (other than any document related to the IDRB Letter of Credit)), dated as of December 30, 2003, as amended, between Core Molding and KeyBank, which terminations shall be deemed to have occurred upon payment in full of all of the Indebtedness outstanding thereunder.
Existing Loan Agreement. Loan Parties hereby acknowledge, confirm and agree that, immediately prior to giving effect to this Agreement, (a) the Existing Loan Agreement is in full force and effect as of the date hereof, and (b) the agreements and obligations of Loan Parties contained in the Existing Loan Agreement constitute the legal, valid and binding obligations of Loan Parties against them in accordance with their respective terms and Loan Parties have no valid defense to the enforcement of such obligations.
Existing Loan Agreement. There shall occur under the Existing Loan Agreement a Default (as therein defined); or
Existing Loan Agreement. Evidence that at the time of the relevant Utilisation, the existing indebtedness incurred pursuant to the Existing Loan Agreement by the Borrowers in respect of the purchase of the Ships will be repaid in full and the security granted in respect of the Ships will be discharged, release and/or reassigned (as applicable).
Existing Loan Agreement. The Company shall have paid to the Administrative Agent, for the account of each Existing Lender, all accrued interest on the Existing Loans as of the Effective Date. The Administrative Agent shall notify the Company and the Lenders of the Effective Date, and such notice shall be conclusive and binding. Without limiting the generality of Section 8.06(b), for purposes of determining compliance with the conditions specified in this Section 4.01, each Lender that has signed this Agreement shall be deemed to have consented to, approved or accepted or to be satisfied with, each document or other matter required thereunder to be consented to or approved by or acceptable or satisfactory to a Lender unless the Administrative Agent shall have received notice from such Lender prior to the proposed Effective Date specifying its objection thereto.
Existing Loan Agreement. Borrowers and Guarantors hereby acknowledge, confirm and agree that, immediately prior to giving effect to this Agreement, (a) the Existing Loan Agreement is in full force and effect as of the date hereof, and (b) the agreements and obligations of Borrowers and Guarantors contained in the Existing Loan Agreement constitute the legal, valid and binding obligations of Borrowers and Guarantors against them in accordance with their respective terms and Borrowers and Guarantors have no valid defense to the enforcement of such obligations.
Existing Loan Agreement. On the Restatement Date, all Revolving Credit Loans shall have been converted to Base Rate Loans, all amounts owing under the Existing Loan Agreement to Prior Lenders which are not Lenders hereunder shall have been paid (including interest, fees and costs required by Section 3.2.5 of the Existing Loan Agreement), and Borrower shall have paid to Agent and the Lenders all interest, fees and costs (including those required by Section 3.2.5 of the Existing Loan Agreement) due under the Existing Loan Agreement and the Loan Documents.
Existing Loan Agreement. This Agreement amends and restates the Credit Agreement dated as of December 9, 2009, between the Borrower and the Bank, as amended by that certain First Amendment to Credit Agreement dated as of November 22, 2010, between the Borrower and the Lender (as amended, the “Existing Credit Agreement”), in its entirety, provided that the obligations of the Borrower incurred under the Existing Credit Agreement shall continue under this Agreement, and shall not in any circumstances be terminated, extinguished or discharged hereby or thereby but shall hereafter be governed by the terms of this Agreement. [The remainder of this page has been left blank intentionally.]
Existing Loan Agreement. The Administrative Agent and the Lenders shall have received satisfactory evidence that all amounts owing under the Existing Loan Agreement (including, without limitation, interest, fees and expenses) have been repaid in full.
