Common use of Indebtedness; Liens, Etc Clause in Contracts

Indebtedness; Liens, Etc. (i) The Borrower and each of the Guarantors shall have received all necessary consents or waivers or shall have amended, supplemented or otherwise modified, repaid, redeemed or defeased its outstanding Indebtedness in a manner and on terms satisfactory to the Administrative Agent such that there exists no default or potential default (including, without limitation, as a result of the consummation of the transactions contemplated by any Borrowing hereunder) with respect to such Indebtedness or under any note, evidence of indebtedness, mortgage, deed of trust, security document or other agreement relating to such Indebtedness and such indentures, notes, evidences of indebtedness, mortgages, deeds of trust or other agreements relating to such Indebtedness shall not contain any restriction on the ability of the Borrower or any of the Guarantors to enter into this Agreement, the Guarantees or the other Loan Documents to which it is entering or the granting of any Lien in favor of the Lenders, nor do such agreements, documents or instruments contain any provision giving rise to the creation of any Lien in favor of any Person as a result of any Borrowing hereunder. (ii) The Administrative Agent and the Lenders shall be satisfied, in their reasonable discretion, with all Indebtedness of the Borrower and each of the Guarantors, outstanding on the Closing Date and not reflected on the Financial Statements.

Appears in 2 contracts

Samples: Loan Agreement (CSS Industries Inc), Loan Agreement (CSS Industries Inc)

AutoNDA by SimpleDocs

Indebtedness; Liens, Etc. (i) The Borrower and each of the Guarantors shall have received all necessary consents or waivers or shall have amended, supplemented or otherwise modified, repaid, redeemed or defeased its outstanding Indebtedness in a manner and on terms satisfactory to the Administrative Agent such that there exists no default or potential default (including, without limitation, as a result of the consummation of the transactions contemplated by any Borrowing hereunder) with respect to such Indebtedness or under any note, evidence of indebtedness, mortgage, deed of trust, security document or other agreement relating to such Indebtedness and such indentures, notes, evidences of indebtedness, mortgages, deeds of trust or other agreements agreements, other than as limited by the Note Purchase Agreement, relating to such Indebtedness shall not contain any restriction on the ability of the Borrower or any of the Guarantors to enter into this Agreement, the Guarantees or the other Loan Documents to which it is entering or or, other than as limited by the Note Purchase Agreement, the granting of any Lien in favor of the Lenders, nor do such agreements, documents or instruments contain any provision giving rise to the creation of any Lien in favor of any Person as a result of any Borrowing hereunder. (ii) The Administrative Agent and the Lenders shall be satisfied, in their reasonable discretion, with all Indebtedness of the Borrower and each any of the Guarantors, Restricted Subsidiaries outstanding on the Closing Effective Date and not reflected on the Financial Statements.

Appears in 1 contract

Samples: Loan Agreement (CSS Industries Inc)

AutoNDA by SimpleDocs

Indebtedness; Liens, Etc. (i) The Borrower and each of the Guarantors shall have received all necessary consents or waivers or shall have amended, supplemented or otherwise modified, repaid, redeemed or defeased its outstanding Indebtedness in a manner and on terms satisfactory to the Administrative Agent such that there exists no default or potential default (including, without limitation, as a result of the consummation of the transactions contemplated by the Acquisition or of any Borrowing hereunder) with respect to such Indebtedness or under any note, evidence of indebtedness, mortgage, deed of trust, security document or other agreement relating to such Indebtedness and such indentures, notes, evidences of indebtedness, mortgages, deeds of trust or other agreements relating to such Indebtedness shall not contain any restriction on the ability of the Borrower or any of the Guarantors to enter into this Agreement, the Guarantees or the other Loan Documents to which it is entering or the granting of any Lien in favor of the Lenders, nor do such agreements, documents or instruments contain any provision giving rise to the creation of any Lien in favor of any Person as a result of the consummation of the transactions contemplated by the Acquisition or of any Borrowing hereunder. (ii) The Administrative Agent and the Lenders shall be satisfied, in their reasonable discretion, with all Indebtedness of the Borrower and each of the Guarantors, outstanding on the Closing Date and not reflected on the Financial StatementsDate.

Appears in 1 contract

Samples: Loan Agreement (CSS Industries Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!