Formation of New Loan Parties Sample Clauses

Formation of New Loan Parties. From time to time during the Initial Term, new Equity Owners and Borrowers may become a party to this Agreement and the other Loan Documents in accordance with the following: (i) any new Borrower shall be a Delaware limited liability company whose Equity Interests are wholly-owned by an Equity Owner, (ii) any new Equity Owner shall be a Delaware limited liability company one-hundred percent (100%) of the Equity Interests of which are owned, directly or indirectly, by Sponsors, (iii) the Constituent Documents of each new Equity Owner and Borrower shall be substantially identical to the Constituent Documents of each Equity Owner and Borrower, respectively, party hereto on the date hereof, or otherwise reasonably acceptable to the Administrative Agent, (iv) such new Equity Owner or Borrower will execute and deliver to the Administrative Agent a Borrower Joinder Agreement or Guarantor Joinder Agreement, as applicable, (v) any new Loan Party will execute and deliver to the Administrative Agent new Collateral Documents, an Environmental Indemnity and, as applicable, an Equity Owner Guaranty (or a supplement to the existing Collateral Documents, Environmental Indemnity and Equity Owner Guaranty), in form and substance reasonably satisfactory to Administrative Agent, (vi) in the case of any new Loan Party that was party to a Prior Loan, such new Loan Party (x) shall satisfy each of the Recycled Entity Conditions as of the date such Person becomes a Loan Party and (y) will execute and deliver to the Administrative Agent a Recycled Entity Certificate, (vii) such new Loan Party shall provide to the Administrative Agent an Additional Insolvency Opinion and a Legal Opinion regarding such new Loan Party, together with such certificates, documents, instruments and agreements as the Administrative Agent shall reasonably request, (viii) such new Loan Party shall be in compliance with each of the representations, warranties and covenants set forth in this Agreement and Loan Documents upon its joinder, including the covenants set forth in Sections 5.01(l), 10.15 and 10.17, (ix) such new Loan Party shall provide to the Administrative Agent information satisfactory to the Lenders to comply with applicable Legal Requirements with respect to customers and such other information and documentation reasonably satisfactory to the Administrative Agent consistent with the requirements applicable to the Loan Parties party hereto on the Closing Date or referred to above and (x) Schedule...
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Related to Formation of New Loan Parties

  • Admission of New Members No other person shall be made a Member without the unanimous consent of the Members at the time such membership decision is to be made. The Secretary shall revise Exhibit “B” attached hereto to reflect the admission of new Members.

  • Approval of New Lenders Any New Lender shall be subject to the approval of the Administrative Agent, which approval shall not be unreasonably withheld.

  • Making of New Term Loans On any Increase Effective Date on which new Commitments for Term Loans are effective, subject to the satisfaction of the foregoing terms and conditions, each Lender of such new Commitment shall make a Term Loan to Borrower in an amount equal to its new Commitment.

  • Continuing Effect of Credit Agreement This Amendment shall not constitute a waiver, amendment or modification of any other provision of the Credit Agreement not expressly referred to herein and shall not be construed as a waiver or consent to any further or future action on the part of the Borrowers that would require a waiver or consent of the Lenders or the Administrative Agent. Except as expressly amended or modified herein, the provisions of the Credit Agreement are and shall remain in full force and effect.

  • Terms of New Loans and Commitments The terms and provisions of Loans made pursuant to the new Commitments shall be as follows:

  • Several Obligations; Nonreliance; Violation of Law The respective obligations of the Lenders hereunder are several and not joint and the failure of any Lender to make any Loan or perform any of its obligations hereunder shall not relieve any other Lender from any of its obligations hereunder. Each Lender hereby represents that it is not relying on or looking to any margin stock (as defined in Regulation U of the Board) for the repayment of the Borrowings provided for herein. Anything contained in this Agreement to the contrary notwithstanding, neither the Issuing Bank nor any Lender shall be obligated to extend credit to the Borrowers in violation of any Requirement of Law.

  • Applicability to New Accounts and New Contracts The parties to this Agreement may amend the schedules to this Agreement from time to time to reflect, as appropriate, changes in or relating to the Contracts, any Series or Class, additions of new classes of Contracts to be issued by the Company and separate accounts therefor investing in the Trust. Such amendments may be made effective by executing the form of amendment included on each schedule attached hereto. The provisions of this Agreement shall be equally applicable to each such class of Contracts, Series, Class or separate account, as applicable, effective as of the date of amendment of such Schedule, unless the context otherwise requires. The parties to this Agreement may amend this Agreement from time to time by written agreement signed by all of the parties.

  • Issuance of New Note Upon any partial conversion of this Note, a new Note containing the same date and provisions of this Note shall, at the request of the Holder, be issued by the Borrower to the Holder for the principal balance of this Note and interest which shall not have been converted or paid. The Borrower will pay no costs, fees or any other consideration to the Holder for the production and issuance of a new Note.

  • Issuance of New Certificate to Pledgee In the event certificates have been issued, a pledgee of shares transferred as collateral security shall be entitled to a new certificate if the instrument of transfer substantially describes the debt or duty that is intended to be secured thereby. Such new certificate shall express on its face that it is held as collateral security, and the name of the pledgor shall be stated thereon, who alone shall be liable as a shareholder, and entitled to vote thereon.

  • Issuance of New Certificates to Pledgee A pledgee of Shares transferred as collateral security shall be entitled to a new certificate if the instrument of transfer substantially describes the debt or duty that is intended to be secured thereby. Such new certificate shall express on its face that it is held as collateral security, and the name of pledgor shall be stated thereon, who alone shall be liable as a Shareholder and entitled to vote thereon.

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