Common use of Maintenance of Most Favored Lender Status Clause in Contracts

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.

Appears in 2 contracts

Samples: Note Purchase Agreement, Note Purchase Agreement (Aaron's Inc)

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Maintenance of Most Favored Lender Status. The Issuers Company hereby covenant acknowledges and agrees that if the Obligors Company or any Subsidiary shall enter into any credit facility or loan agreement or any amendment thereof (including, without limitation, any amendment be a party to the SunTrust Agreement, the Prudential NPA or the Existing Note Purchase Agreement) pursuant to a Revolving Loan Facility 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 contains for the benefit of the lenders thereunder any covenants lender or other Person any Financial Covenants or events of default which in respect thereof that are more favorable to such lenders lender than the covenants Financial Covenants and events Events of default provided for Default in paragraphs [5 or]5, 6 and 7 hereof for the benefit respect of the holders of the Notes such Financial Covenants contained in this Agreement then, and in each and any such event, the covenants Financial Covenants and events Events of default, as applicable, Default in this Agreement shall be and shall be deemed to be, notwithstanding paragraph 11C Section 9.1 and without any further action on the part of the Obligors Company or any other Person being necessary or required, amended to permanently afford (until so amended or waived pursuant to Section 9.1) the holders of the Notes the same benefits and rights as so afforded to any such amendmentslender or Person (such deemed amendment may be the addition of one or more new Financial Covenants and Events of Default with respect thereto addressing matters not addressed by the then existing Financial Covenants and Events of Default with respect thereto set forth herein, as well as modifications to such Financial Covenants and Events of Default with respect thereto that are more favorable to such lender or other agreements, provide the lenders thereofPerson). The Issuers Company will promptly deliver to each holder of Notes a copy of each such agreement or amendmentRevolving Loan Facility entered into after the Effective Date. Without limiting the effectiveness of the first sentence of this Section 6.12, the Company agrees, no later than forty-five (45) days following the date the Company or any waiver Subsidiary shall have granted any such lender or modification thereof. Notwithstanding the foregoingPerson any such benefits or rights, 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.Section 6.12." 11. Section 6 of the Existing Note Agreement is hereby amended by adding the following new Section 6.13:

Appears in 2 contracts

Samples: Note Agreement (Castle a M & Co), Note Agreement (Castle a M & Co)

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, or 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.

Appears in 1 contract

Samples: Note Purchase Agreement (Aaron's Inc)

Maintenance of Most Favored Lender Status. The Issuers Company hereby covenant acknowledges and agrees that if the Obligors Company or any Subsidiary shall enter into any credit facility or loan agreement or any amendment thereof (including, without limitation, any amendment to the SunTrust AgreementCredit Agreement which, the Prudential NPA directly or the Existing Note Purchase Agreement) pursuant to which the credit commitments available to the Obligorsindirectly, 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 the kind set forth in Section 10 which are more favorable to such lenders than the covenants and events set forth in such Section (including, without limitation, new covenants of default provided for in paragraphs [5 or]5, 6 and 7 hereof for the benefit of the holders of the Notes such kind) 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 Section 17 and without any further action on the part of the Obligors Company or any other Person being necessary or required, amended to afford the holders of the Notes the same benefits and rights as such amendmentsamendments provide such lenders. No modification or amendment to the Credit Agreement (including, without limitation, the elimination of covenants) that results in any covenant of the kind set forth in Section 10 becoming less restrictive on the Obligors shall be effective as a modification, amendment or other agreements, provide the lenders thereofwaiver under this Agreement. The Issuers Obligors will promptly deliver to each holder of Notes a copy of each such agreement or amendment, or any waiver or modification thereofof the Credit Agreement, entered into after the date hereof. Notwithstanding the foregoing, the Issuers Obligors agree to enter into such documentation as the Required Holders may reasonably request to evidence the amendments provided for in this paragraph 5G.Section 9.7; provided, however, that the execution and delivery of any such amendment shall not be a precondition to the effectiveness of such amendment as provided for in this Section 9.7.

Appears in 1 contract

Samples: Note Purchase Agreement (Burlington Coat Factory Warehouse Corp)

Maintenance of Most Favored Lender Status. The Issuers Obligors 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 Agreement 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, or 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 Obligors 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 Obligors agree to enter into such documentation as the Required Holders may reasonably request to evidence the amendments provided for in this paragraph 5G.

Appears in 1 contract

Samples: Note Purchase Agreement (Aaron's Inc)

Maintenance of Most Favored Lender Status. The Issuers Company hereby covenant acknowledges and agrees that if the Obligors any Borrower or any Subsidiary shall enter into any credit facility or loan be a party to an 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 instrument under which the credit commitments available to the Obligors, individually or in the aggregate to one or more Indebtedness of the Obligors under type described in clause (a), (c) or (f) of the definition of Indebtedness (“Designated Indebtedness”) is incurred and any such credit facility agreement or loan agreement, and/or outstanding principal indebtedness incurred thereunder or in respect thereof equals or exceeds $25,000,000 and which provides instrument contains for the benefit of the lenders thereunder any lender or other Person any covenants or events of default which that are more favorable to such lenders lender or more restrictive on any Borrower or any Subsidiary than the covenants and events Events of default provided for Default contained in paragraphs [5 or]5Sections 6.1.1, 6 and 7 hereof for the benefit 6.2.1, 6.2.2, 6.2.9, 6.2.10 or 7.1 of the holders of the Notes this Agreement then, and in each and any such event, the financial covenants and events Events of default, as applicable, Default in this Agreement shall be and shall be deemed to be, notwithstanding paragraph 11C Section 9.1 and without any further action on the part of the Obligors any Borrower or any other Person being necessary or required, amended to permanently afford the holders of the Notes (until so amended or waived pursuant to Section 9.1) Administrative Agent, L/C Issuer and Lenders the same benefits and rights as so afforded to any such amendmentslender or Person (such deemed amendment may be the addition of one or more new financial covenants and Events of Default in respect thereto addressing matters not addressed by the then existing financial covenants and Events of Default in respect thereto set forth herein, as well as modifications to such financial covenants and Events of Default in respect thereto that are more favorable to such lender or other agreements, provide the lenders thereofPerson). The Issuers Company will promptly deliver to each holder of Notes Administrative Agent a copy of each such agreement or amendmentinstrument providing for Designated Indebtedness entered into after the Closing Date. Without limiting the effectiveness of the first sentence of this Section 6.1.6, the Company agrees, no later than ninety (90) days following the date any Borrower or any waiver Subsidiary shall have granted any such lender or modification thereof. Notwithstanding the foregoingPerson any such benefits or rights, the Issuers agree to enter into into, and cause each other Borrower to enter into, such documentation as the Required Holders Administrative Agent may reasonably request to evidence the amendments provided for in this paragraph 5G.Section 6.1.6.

Appears in 1 contract

Samples: Credit Agreement (Andrew Corp)

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 MetLife 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.

Appears in 1 contract

Samples: Note Purchase Agreement (Aaron's Inc)

Maintenance of Most Favored Lender Status. The Issuers Borrowers hereby covenant acknowledge and agree that if the Obligors either Borrower or any Subsidiary shall enter into any credit facility or loan agreement or any amendment thereof (including, without limitation, any amendment be a party to the SunTrust Agreement, the Prudential NPA or the Existing Note Purchase Agreement) pursuant to a Revolving Loan Facility 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 contains for the benefit of the lenders thereunder any covenants lender or other Person any Financial Covenants or events of default which in respect thereof that are more favorable to such lenders lender than the covenants Financial Covenants and events Events of default provided for Default in paragraphs [5 or]5, 6 and 7 hereof for the benefit respect of the holders of the Notes such Financial Covenants contained in this Agreement then, and in each and any such event, the covenants Financial Covenants and events Events of default, as applicable, Default in this Agreement shall be and shall be deemed to be, notwithstanding paragraph 11C Section 10.01 and without any further action on the part of the Obligors either Borrower or any other Person being necessary or required, amended to permanently afford the holders of the Notes (until so amended or waived pursuant to Section 10.01) Agents and Lenders the same benefits and rights as so afforded to any such amendmentslender or Person (such deemed amendment may be the addition of one or more new Financial Covenants and Events of Default in respect thereto addressing matters not addressed by the then existing Financial Covenants and Events of Default in respect thereto set forth herein, as well as modifications to such Financial Covenants and Events of Default in respect thereto that are more favorable to such lender or other agreements, provide the lenders thereofPerson). The Issuers Borrowers will promptly deliver to each holder of Notes Agents a copy of each such agreement or amendmentRevolving Loan Facility entered into after the Closing Date. Without limiting the effectiveness of the first sentence of this Section 6.10, Borrowers agree, no later than forty-five (45) days following the date either Borrower or any waiver Subsidiary shall have granted any such lender or modification thereof. Notwithstanding the foregoingPerson any such benefits or rights, the Issuers agree to enter into such documentation as the Required Holders Agents may reasonably request to evidence the amendments provided for in this paragraph 5G.Section 6.10.

Appears in 1 contract

Samples: Credit Agreement (Castle a M & Co)

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 MetLife 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, or 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.

Appears in 1 contract

Samples: Note Purchase Agreement (Aaron's Inc)

Maintenance of Most Favored Lender Status. The Issuers Obligors 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 Agreement or the Existing Note Purchase SouthTrust 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, or 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 amendmentsamendments to, or other agreements, provide the lenders thereof. The Issuers Obligors 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 Obligors agree to enter into such documentation as the Required Holders may reasonably request to evidence the amendments provided for in this paragraph 5G.

Appears in 1 contract

Samples: Note Purchase Agreement (Aaron Rents Inc)

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Maintenance of Most Favored Lender Status. The Issuers Obligors 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 MetLife NPA or the Existing Note Purchase Agreement2014 Prudential NPA) 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 Obligors 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 Obligors agree to enter into such documentation as the Required Holders may reasonably request to evidence the amendments provided for in this paragraph 5G.

Appears in 1 contract

Samples: Note Purchase Agreement (Aaron's Inc)

Maintenance of Most Favored Lender Status. The Issuers Obligors 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 SouthTrust Agreement, 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, or 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 Obligors 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 Obligors agree to enter into such documentation as the Required Holders may reasonably request to evidence the amendments provided for in this paragraph 5G.

Appears in 1 contract

Samples: Note Purchase Agreement (Aaron Rents Inc)

Maintenance of Most Favored Lender Status. The Issuers Obligors 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 SouthTrust Agreement or the Existing 2005 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, or 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 amendmentsamendments to, or other agreements, provide the lenders thereof. The Issuers Obligors 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 Obligors agree to enter into such documentation as the Required Holders may reasonably request to evidence the amendments provided for in this paragraph 5G.” 2. Paragraph 6E of the Existing Note Purchase Agreement is hereby amended by (i) deleting the reference to “Capital” in clause (c) and inserting “Capitalized” in lieu thereof; (ii) amending and restating clause (f) in its entirety to read as follows:

Appears in 1 contract

Samples: Note Purchase Agreement (Aaron Rents Inc)

Maintenance of Most Favored Lender Status. The Issuers Borrowers hereby covenant acknowledge and agree that if the Obligors either Borrower or any Subsidiary shall enter into any credit facility or loan agreement or any amendment thereof (including, without limitation, any amendment be a party to the SunTrust Agreement, the Prudential NPA or the Existing Note Purchase Agreement) pursuant to a Revolving Loan Facility 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 contains for the benefit of the lenders thereunder any covenants lender or other Person any Financial Covenants or events of default which in respect thereof that are more favorable to such lenders lender than the covenants Financial Covenants and events Events of default provided for Default in paragraphs [5 or]5, 6 and 7 hereof for the benefit respect of the holders of the Notes such Financial Covenants contained in this Agreement then, and in each and any such event, the covenants Financial Covenants and events Events of default, as applicable, Default in this Agreement shall be and shall be deemed to be, notwithstanding paragraph 11C Section 10.01 and without any further action on the part of the Obligors either Borrower or any other Person being necessary or required, amended to permanently afford the holders of the Notes (until so amended or waived pursuant to Section 10.01) Agents and Lenders the same benefits and rights as so afforded to any such amendmentslender or Person (such deemed amendment may be the addition of one or more new Financial Covenants and Events of Default in respect thereto addressing matters not addressed by the then existing Financial Covenants and Events of Default in respect thereto set forth herein, as well as modifications to such Financial Covenants and Events of Default in respect thereto that are more favorable to such lender or other agreements, provide the lenders thereofPerson). The Issuers Borrowers will promptly deliver to each holder of Notes Agents a copy of each such agreement or amendmentRevolving Loan Facility entered into after the Closing Date. Without limiting the effectiveness of the first sentence of this Section 6.11, Borrowers agree, no later than forty-five (45) days following the date either Borrower or any waiver Subsidiary shall have granted any such lender or modification thereof. Notwithstanding the foregoingPerson any such benefits or rights, the Issuers agree to enter into such documentation as the Required Holders Agents may reasonably request to evidence the amendments provided for in this paragraph 5G.Section 6.11.

Appears in 1 contract

Samples: Credit Agreement (Castle a M & Co)

Maintenance of Most Favored Lender Status. The Issuers Borrowers hereby covenant acknowledge and agree that if the Obligors a Borrower or any Subsidiary shall enter into any credit facility or loan agreement or any amendment thereof (including, without limitation, any amendment be a party to the SunTrust Agreement, the Prudential NPA or the Existing Note Purchase Agreement) pursuant to a Revolving Loan Facility 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 contains for the benefit of the lenders thereunder any covenants lender or other Person any Financial Covenants or events of default which in respect thereof that are more favorable to such lenders lender than the covenants Financial Covenants and events Events of default provided for Default in paragraphs [5 or]5, 6 and 7 hereof for the benefit respect of the holders of the Notes such Financial Covenants contained in this Agreement then, and in each and any such event, the covenants Financial Covenants and events Events of default, as applicable, Default in this Agreement shall be and shall be deemed to be, notwithstanding paragraph 11C Section 10.01 and without any further action on the part of the Obligors a Borrower or any other Person being necessary or required, amended to permanently afford the holders of the Notes (until so amended or waived pursuant to Section 10.01) Agents and Lenders the same benefits and rights as so afforded to any such amendmentslender or Person (such deemed amendment may be the addition of one or more new Financial Covenants and Events of Default in respect thereto addressing matters not addressed by the then existing Financial Covenants and Events of Default in respect thereto set forth herein, as well as modifications to such Financial Covenants and Events of Default in respect thereto that are more favorable to such lender or other agreements, provide the lenders thereofPerson). The Issuers Borrowers will promptly deliver to each holder of Notes Agents a copy of each such agreement or amendmentRevolving Loan Facility entered into after the Closing Date. Without limiting the effectiveness of the first sentence of this Section 6.11, Borrowers agree, no later than forty-five (45) days following the date a Borrower or any waiver Subsidiary shall have granted any such lender or modification thereof. Notwithstanding the foregoingPerson any such benefits or rights, the Issuers agree to enter into such documentation as the Required Holders Agents may reasonably request to evidence the amendments provided for in this paragraph 5G.Section 6.11.

Appears in 1 contract

Samples: Credit Agreement (Castle a M & Co)

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