Loan Note Obligations Sample Clauses

Loan Note Obligations. If the Loan Note Obligations as at the Available Commitment Termination Date for the Acquisition Facility are in excess of L.50,000,000, the Loan Note Facility shall be available until the Final Repayment Date and Advances may be drawn down by the Primary Borrower from time to time under the Loan Note Facility to be on-lent to Fincx 0 xo be used by it to on-lend to Bidco to be used to fund Loan Note Obligations. To the extent that, by reason of the minimum drawdown requirements set out above, an Advance drawn down under the Loan Note Facility exceeds the then outstanding Loan Note Obligations, any excess shall be retained by the Primary Borrower and paid into the Loan Note Collateral Account which shall be a blocked account maintained by the Security Agent. To the extent that the aggregate Loan Note Obligations as at the Available Commitment Termination Date for the Acquisition Facility are not in excess of L.50,000,000 the Loan Note Facility shall not come into existence, but Advances may be drawn down by the Primary Borrower under the Acquisition Facility or if there is no further available Commitment under that Facility, under the Interim Facility to be on-lent to Fincx 0 xo be used by it to on-lend to Bidco to be used to fund Loan Note Obligations. Any Advance drawn down under the Acquisition Facility or Interim Facility shall be drawn down by the Primary Borrower and paid into the Loan Note Collateral Account. The Security Agent shall permit the Primary Borrower to draw amounts from the Loan Note Collateral Account from time to time: (ii) at the relevant time, no Event of Default shall have occurred which has not been remedied or waived to the reasonable satisfaction of the Security Agent. The Loan Note Collateral Account shall not be a trust account and sums standing to its credit from time to time shall be charged by way of fixed charge under the Debenture and available to the Security Agent by way of security.
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Loan Note Obligations. The Loan Note Facility shall be available until the Final Repayment Date and Advances may be drawn down by the Primary Borrower from time to time under the Loan Note Facility to be on-lent to Xxxxx 2 to be used by it to on-lend to Bidco to be used to fund Loan Note Obligations. To the extent that, by reason of the minimum drawdown requirements set out above, an Advance drawn down under the Loan Note Facility exceeds the then outstanding Loan Note Obligations, any excess shall be retained by the Primary Borrower and paid into the Loan Note Collateral Account which shall be a blocked account maintained by the Security Agent. The Security Agent shall permit the Primary Borrower to draw amounts from the Loan Note Collateral Account from time to time: (i) to the extent of Loan Note Obligations then due, to be on-lent to Xxxxx 2 to be used by it to on-lend to Bidco to be used by Bidco to fund such Loan Note Obligations; provided that (ii) at the relevant time, no Event of Default shall have occurred which has not been remedied or waived to the reasonable satisfaction of the Security Agent. The Loan Note Collateral Account shall not be a trust account and sums standing to its credit from time to time shall be charged by way of fixed charge under the Debenture and available to the Security Agent by way of security.
Sample 1

Related to Loan Note Obligations

  • Reaffirmation of Credit Party Obligations Each Credit Party hereby ratifies the Credit Agreement and acknowledges and reaffirms (a) that it is bound by all terms of the Credit Agreement applicable to it and (b) that it is responsible for the observance and full performance of its respective Credit Party Obligations.

  • The Obligations The security interest granted hereunder shall secure the payment of all indebtedness and the performance of all obligations of the Debtor to the Secured Party of every type and description, whether now existing or hereafter arising, fixed or contingent, as primary obligor or as guarantor or surety, acquired directly or by assignment or otherwise, liquidated or unliquidated, regardless of how they arise or by what agreement or instrument they may be evidenced, including without limitation all loans, advances and other extensions of credit and all covenants, agreements, and provisions contained in all loan and other agreements between the parties (the “Obligations”).

  • Lender Obligations Each Lender and Issuing Bank shall promptly notify Borrowers and Agent of any change in circumstances that would change any claimed Tax exemption or reduction. Each Lender and Issuing Bank shall indemnify, hold harmless and reimburse (within 10 days after demand therefor) Borrowers and Agent for any Taxes, losses, claims, liabilities, penalties, interest and expenses (including reasonable attorneys’ fees) incurred by or asserted against a Borrower or Agent by any Governmental Authority due to such Lender’s or Issuing Bank’s failure to deliver, or inaccuracy or deficiency in, any documentation required to be delivered by it pursuant to this Section. Each Lender and Issuing Bank authorizes Agent to set off any amounts due to Agent under this Section against any amounts payable to such Lender or Issuing Bank under any Loan Document.

  • Term Loan Notes If so requested by any Lender by written notice to Borrower (with a copy to Administrative Agent) at least two (2) Business Days prior to the Closing Date, or at any time thereafter, Borrower shall execute and deliver to such Lender (and/or, if applicable and if so specified in such notice, to any Person who is an assignee of such Lender pursuant to Section 10.6) on the Closing Date (or, if such notice is delivered after the Closing Date, promptly after Borrower’s receipt of such notice) a Term Loan Note or Term Loan Notes to evidence such Lender’s Term Loans to such Borrower.

  • No Lender Obligations (a) Notwithstanding the provisions of Subsections 1.1(h) and (n) or Section 1.2, Lender is not undertaking the performance of (i) any obligations under the Leases; or (ii) any obligations with respect to such agreements, contracts, certificates, instruments, franchises, permits, trademarks, licenses and other documents. (b) By accepting or approving anything required to be observed, performed or fulfilled or to be given to Lender pursuant to this Mortgage, the Loan Agreement, the Note or the other Loan Documents, including, without limitation, any officer’s certificate, balance sheet, statement of profit and loss or other financial statement, survey, appraisal, or insurance policy, Lender shall not be deemed to have warranted, consented to, or affirmed the sufficiency, the legality or effectiveness of same, and such acceptance or approval thereof shall not constitute any warranty or affirmation with respect thereto by Lender.

  • Revolving Loan Notes The Revolving Loans made by the Lenders to a Borrower shall be evidenced, upon request by any Lender, by a promissory note of such Borrower payable to each Lender in substantially the form of Exhibit 2.7(a) hereto (the “Revolving Loan Notes”) and in a principal amount equal to the amount of such Lender’s Commitment Percentage of the Revolving Loan Commitment as originally in effect.

  • Secured Party Performance of Debtor Obligations Without having any obligation to do so, the Administrative Agent may perform or pay any obligation which any Grantor has agreed to perform or pay in this Security Agreement and the Grantors shall reimburse the Administrative Agent for any amounts paid by the Administrative Agent pursuant to this Section 8.4. The Grantors’ obligation to reimburse the Administrative Agent pursuant to the preceding sentence shall be a Secured Obligation payable on demand.

  • Revolving Credit Notes The Obligation of the Borrower to repay the aggregate unpaid principal amount of the Revolving Credit Loans made to it by each Bank, together with interest thereon, shall be evidenced by a Revolving Credit Note dated the Closing Date payable to the order of such Bank in a face amount equal to the Revolving Credit Commitment of such Bank.

  • Disbursement of Revolving Credit and Swingline Loans Not later than 2:00 p.m. on the proposed borrowing date, (i) each Revolving Credit Lender will make available to the Administrative Agent, for the account of the Borrower, at the office of the Administrative Agent in funds immediately available to the Administrative Agent, such Revolving Credit Lender’s Revolving Credit Commitment Percentage of the Revolving Credit Loans to be made on such borrowing date and (ii) the Swingline Lender will make available to the Administrative Agent, for the account of the Borrower, at the office of the Administrative Agent in funds immediately available to the Administrative Agent, the Swingline Loans to be made on such borrowing date. The Borrower hereby irrevocably authorizes the Administrative Agent to disburse the proceeds of each borrowing requested pursuant to this Section in immediately available funds by crediting or wiring such proceeds to the deposit account of the Borrower identified in the most recent notice substantially in the form attached as Exhibit C (a “Notice of Account Designation”) delivered by the Borrower to the Administrative Agent or as may be otherwise agreed upon by the Borrower and the Administrative Agent from time to time. Subject to Section 5.7 hereof, the Administrative Agent shall not be obligated to disburse the portion of the proceeds of any Revolving Credit Loan requested pursuant to this Section to the extent that any Revolving Credit Lender has not made available to the Administrative Agent its Revolving Credit Commitment Percentage of such Loan. Revolving Credit Loans to be made for the purpose of refunding Swingline Loans shall be made by the Revolving Credit Lenders as provided in Section 2.2(b).

  • Repayment of Revolving Credit Advances The Borrower shall repay to the Agent for the ratable account of the Lenders on the Revolver Termination Date the aggregate principal amount of the Revolving Credit Advances then outstanding.

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