Lender Conditions. In order to finance the development and operation of the System, Seller may borrow money from a Lender (as defined in the Agreement). Buyer acknowledges that Seller may finance the acquisition, development, installation, operation and maintenance of the System with financing or other accommodations from one or more financial institutions and that Seller’s obligations to the Lender may be secured by, among other collateral, a pledge or collateral assignment of the Agreement and a first priority security interest in the System (collectively, the “Security Interest”). In order to facilitate the necessary financing, Buyer consents to Seller’s granting to the Lender the Security Interest. Xxxxx acknowledges and agrees that: (i) Buyer and all of Buyer’s rights under the Agreement are and will be subject and subordinate to the Security Interest (and as later modified by any and all renewals, modifications, supplement, amendments, consolidations, replacements, substitutions, additions, and extensions); and (ii) no amendment or modifications of the Agreement is permitted without the Lender’s written consent.
Lender Conditions. Lender shall have no obligation to make a Loan for the acquisition of any Item of Equipment hereunder unless on the Funding Date therefor each of the following conditions are fulfilled to the satisfaction of Lender:
Lender Conditions. Within 20 business days after the execution of this Agreement, Able will make its best efforts to provide to Sirit an agreement between Bank of America and Able which will provide that Bank of America will not place Able in involuntary bankruptcy from the date of this Agreement until (a) 91 days following the issuance and registration of the Sirit Shares; or (b) for 91 days following the date on which the Consent Judgment has been paid or satisfied in full, whichever is later, (but in no event later than May 31, 2001), to the extent it has such a right, upon the condition that Able satisfies its obligations to Bank of America under its agreements with Bank of America.
Lender Conditions
