Maintenance of Most Favored Lender Status Sample Clauses

Maintenance of Most Favored Lender Status. The Issuers hereby covenant that if the Obligors shall enter into any credit facility or loan agreement or any amendment thereof (including, without limitation, any amendment to the SunTrust Agreement, the Prudential NPA or the Existing Note Purchase Agreement) pursuant to which the credit commitments available to the Obligors, individually or in the aggregate to one or more of the Obligors under such credit facility or loan agreement, and/or outstanding principal indebtedness incurred thereunder or in respect thereof equals or exceeds $25,000,000 and which provides for the benefit of the lenders thereunder any covenants or events of default which are more favorable to such lenders than the covenants and events of default provided for in paragraphs [5 or]5, 6 and 7 hereof for the benefit of the holders of the Notes then, and in each and any such event, the covenants and events of default, as applicable, in this Agreement shall be and shall be deemed to be, notwithstanding paragraph 11C and without any further action on the part of the Obligors or any other Person being necessary or required, amended to afford the holders of the Notes the same benefits and rights as such amendments, or other agreements, provide the lenders thereof. The Issuers will promptly deliver to each holder of Notes a copy of each such agreement or amendment, or any waiver or modification thereof. Notwithstanding the foregoing, the Issuers agree to enter into such documentation as the Required Holders may reasonably request to evidence the amendments provided for in this paragraph 5G.
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Maintenance of Most Favored Lender Status. If at any time any Principal Lending Agreement shall include any covenant, undertaking, restriction or other provision (or any thereof shall be amended or otherwise modified) that is not contained in this Agreement or would be more beneficial to the holders of Notes than any analogous covenant, undertaking, restriction or provision contained in this Agreement (any such covenant, undertaking, restriction or provision, an “Additional Covenant”), then the Company shall provide a Most Favored Lender Notice to the holders of the Notes. Thereupon, unless waived in writing by the Required Holders within five (5) days of receipt of such notice by the holders of the Notes, such Additional Covenant shall be deemed automatically incorporated by reference into this Agreement, mutatis mutandis, as if set forth fully herein, without any further action required on the part of any Person, effective as of the date when such Additional Covenant became effective under such Principal Lending Agreement. Thereafter, upon the request of the Required Holders, the Company shall enter into any additional agreement or amendment to this Agreement reasonably requested by such holder evidencing any of the foregoing. Any Additional Covenant incorporated into this Agreement pursuant to this paragraph 5K shall remain unchanged herein notwithstanding any subsequent waiver, amendment or other modification of such Additional Covenant (unless any such waiver, amendment or modification adds another Additional Covenant) under the applicable Principal Lending Agreement.
Sample 1
Maintenance of Most Favored Lender Status. Neither the Company nor any Guarantor will (i) enter into any modification or amendment to any existing credit facility or other financing document for Financial Indebtedness (including, without limitation, the Bank Facility) other than any modification or amendment to any existing derivative transaction on standard ISDA terms, or (ii) enter into any new credit facility or financing document for Financial Indebtedness (including, without limitation, any Committed Medium-Term Financing or Committed External Financing) other than derivative transactions on standard ISDA terms, that contains financial or other business covenants, definitions or testing requirements relating thereto, guarantees, preferences, representations, warranties, financial reporting requirements, defaults or events of default (howsoever described) provisions more favorable to the lender or financier thereunder than those applicable to the Notes (the “Additional Provisions”) unless the Company or the Guarantor, as applicable, shall execute and deliver to the holders of the Notes an instrument in writing supplementing the Financing Documents and extending the benefit of such Additional Provisions to the holders of the Notes. Once incorporated in the Financing Documents, no waiver or consent under or amendment or termination of the credit facility or other financing document for Financial Indebtedness containing the Additional Provisions shall have any effect on the Additional Provisions as incorporated in the Financing Documents.
Sample 1
Maintenance of Most Favored Lender Status. The Company and the holders of the Notes hereby acknowledge and agree that if the Company or any Subsidiary shall enter into any amendment to the Senior Financing Agreement with the Senior Lenders or enter into any other agreement with the Senior Lenders which provides for the benefit of the Senior Lenders any Financial Covenants which are more favorable to the Senior Lenders than the Financial Covenants in this Agreement, THEN, and in each and any such event, the Financial Covenants in this Agreement shall, notwithstanding the provisions of Section 10.5 and without any further action on the part of the Company or any other Person being necessary or required, be, and shall be deemed to be, amended to afford the holders of Notes the same benefits and rights as such amendments to, or other agreements in respect of, the Financial Covenants of the Senior Financing Agreement afford to the Senior Lenders; PROVIDED that in all such instances the Financial Covenants of the holders of the Notes shall be 10% less restrictive than the Financial Covenants of the Senior Lenders.
Sample 1
Maintenance of Most Favored Lender Status. (a) If the Company shall enter into any credit agreement or other agreement, or amend or modify any such existing agreement (each such agreement referred to as an "OTHER CREDIT FACILITY"), with one or more financial institutions or other investors which provides financing to the Company or any Subsidiary and which provides for the benefit of the lenders or investors thereunder any financial or other material covenants or events of default which are relatively more favorable to such lenders or investors than the financial and other material covenants provided for in this Agreement, then, and in each and any such event, such more favorable financial and other material covenants and events of default set forth in such Other Credit Facility shall be, and shall be deemed to be, added to this Agreement notwithstanding the provisions of Section 15 and without any further action on the part of the Company or any other Person being necessary or required. The Company will promptly deliver to each holder of Notes a copy of each such Other Credit Facility and each amendment or other modification to or a waiver of any provision of each such Other Credit Facility entered into after March 30, 2001. (b) Except in satisfaction of the conditions constituting the Renewal Condition, the Company may not, without the prior written consent of the Required Holders, amend or modify any of the payment provisions in the Bank Loan Agreement, including, without limitation, the maturity date, any interest rates, required payments, fees or other compensation.
Sample 1
Maintenance of Most Favored Lender Status. (a) No Obligor shall enter into any modification or amendment to any existing credit facility or other financing document (including, without limitation, the Syndicated Loan Agreement and any Committed Medium-Term Bank Facilities), or enter into any new credit facility or financing document, that contains financial covenants, definitions or default provisions more favorable to the lender or financier thereunder unless the Noteholders are given the option of receiving the benefit of such more favorable provisions at the same time and on the same terms. (b) No Obligor shall enter into any modification or amendment to the Syndicated Loan Agreement that contains covenants, definitions or provisions more favorable to the Banks thereunder unless the holders of the Notes are given the option of receiving the benefit of such more favorable provisions at the same time and on the same terms; or (c) Neither the Company nor any of its Subsidiaries shall provide any additional guarantees to the Banks or any other creditor of the Company, the Issuer or any Subsidiary Guarantor unless such Person has become a Subsidiary Guarantor pursuant to Section 9.3.5.
Sample 1

Related to Maintenance of Most Favored Lender Status

  • Maintenance of Registers by Administrative Agent The Administrative Agent, acting for this purpose as an agent of the Borrower, shall maintain at one of its offices in New York City a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses of the Lenders, and the Commitments of, and principal amount (and stated interest) of the Loans and LC Disbursements owing to, each Lender pursuant to the terms hereof from time to time (the “Registers” and each individually, a “Register”). The entries in the Registers shall be conclusive absent manifest error, and the Borrower, the Administrative Agent, the Issuing Banks and the Lenders may treat each Person whose name is recorded in the Registers pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. The Registers shall be available for inspection by the Borrower, any Issuing Bank and any Lender, at any reasonable time and from time to time upon reasonable prior notice.

  • Maintenance of Listing The Company will use commercially reasonable efforts to effect and maintain the listing of (x) the Units and Warrants on the NYSE (or another national securities exchange) until the consummation of the Business Combination or until such earlier time at which the Liquidation occurs, and (y) the Common Stock on the NYSE (or another national securities exchange) until five years from the date of the consummation of the Business Combination or until such earlier time at which Liquidation occurs.

  • Maintenance of Records by Lenders Each Lender shall maintain in accordance with its usual practice records evidencing the indebtedness of the Borrower to such Lender resulting from each Loan made by such Lender, including the amounts and Currency of principal and interest payable and paid to such Lender from time to time hereunder.

  • Maintenance of Liquidity Seller shall ensure that it has cash and Cash Equivalents (excluding Restricted Cash or cash pledged to Persons other than Buyer), in an amount not less than $40,000,000.

  • Maintenance of Liens Each Borrower shall perform all such acts and execute all such documents as Administrative Agent may reasonably request in order to enable Administrative Agent and the Lenders to file and record every instrument that Administrative Agent may reasonably deem necessary in order to perfect and maintain Administrative Agent’s first priority Liens on the Collateral (subject to Permitted Liens).

  • Mitigation of Obligations Replacement of Lenders (a) If any Lender requests compensation under Section 3.04, or if any Borrower is required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 3.01, then such Lender shall, upon the request of such Borrower, use reasonable efforts to designate a different Lending Office for funding or booking its Loans hereunder or to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the judgment of such Lender, such designation or assignment (i) would eliminate or reduce amounts payable pursuant to Section 3.04 or 3.01, as the case may be, in the future and (ii) would not subject such Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender. Each Borrower hereby agrees to pay all reasonable costs and expenses incurred by any Lender in connection with any such designation or assignment. (b) If a Lender is a Defaulting Lender, or under any circumstances otherwise set forth herein providing that the Borrowers shall have the right to replace a Lender as a party to this Agreement, the Borrowers may, upon notice to such Lender and the Administrative Agent, replace such Lender by causing such Lender to assign its Commitment (with the assignment fee to be paid by the Borrowers in such instance) pursuant to Section 10.07(b) to one or more other Lenders or Eligible Assignees procured by the Borrowers; provided, however, that if the Borrowers elect to exercise such right with respect to any Lender pursuant to Section 3.06(b), it shall be obligated to replace all Lenders that have made requests for compensation on a similar basis and in a similar amount pursuant to Section 3.01 or 3.

  • Maintenance of Collateral Borrower will maintain the Collateral in good working condition, and Borrower will not use the Collateral for any unlawful purpose. Borrower will immediately advise Silicon in writing of any material loss or damage to the Collateral.

  • Maintenance of Licenses The Owner Trustee will obtain and maintain any licenses that the Administrator informs the Owner Trustee are required to be obtained or maintained by the Owner Trustee under the laws of any State in connection with the Owner Trustee’s duties and obligations under the Transaction Documents.

  • Maintenance of Status The Borrower will maintain its separate corporate existence and remain in good standing under the laws of the Xxxxxxxx Islands.

  • Replacement of Lender If (a) any Borrower is required pursuant to Section 3.1, 3.2 or 3.5 to pay any Indemnified Taxes or make any additional payment to any Lender or any Governmental Authority for the account of any Lender, (b) any Lender’s obligation to make or continue, or to convert Alternate Base Rate Advances into, Term SOFR Advances or to make Eurocurrency Advances shall be suspended pursuant to Section 3.3, (c) any Lender is a Defaulting Lender or (d) any Lender is a Non-Consenting Lender (any Lender so affected, an “Affected Lender”), the Borrower Representative may elect, if such amounts continue to be charged or such suspension or status as a Defaulting Lender or Non-Consenting Lender is still effective, to replace such Affected Lender as a Lender party to this Agreement, provided that no Default or Unmatured Default shall have occurred and be continuing at the time of such replacement, and provided further that, concurrently with such replacement, (i) another bank or other entity which is an Eligible Assignee shall agree, as of such date, to purchase for cash the Advances at par and other Obligations due to the Affected Lender pursuant to an assignment substantially in the form of Exhibit C and to become a Lender for all purposes under this Agreement and to assume all obligations of the Affected Lender to be terminated as of such date and to comply with the requirements of Section 12.2 applicable to assignments, and (ii) the Borrowers and/or the assignee shall pay to such Affected Lender in same day funds on the day of such replacement (A) all interest, fees and other amounts then accrued but unpaid to such Affected Lender by the Borrowers hereunder to and including the date of termination, including without limitation payments due to such Affected Lender under Sections 3.1, 3.2 and 3.5, and (B) an amount, if any, equal to the payment which would have been due to such Lender on the day of such replacement under Section 3.4 had the Loans of such Affected Lender been prepaid on such date rather than sold to the replacement Lender.

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