Common use of New Debt Clause in Contracts

New Debt. In the event any Company incurs Indebtedness consented to by Required Lenders which is not otherwise permitted pursuant to Paragraph 6.1 hereof, all of the net cash proceeds of such Indebtedness shall be paid directly to Agent for the account of the Lenders.

Appears in 1 contract

Samples: Credit Agreement (Marketing Specialists Corp)

AutoNDA by SimpleDocs

New Debt. In the event any Company a Borrower incurs -------- Indebtedness consented to by Required Lenders which is not otherwise permitted pursuant to Paragraph 6.1 hereof, all of the net cash proceeds of such Indebtedness shall be paid directly to Agent for the account of the LendersLenders and applied to the Loan as set forth in subparagraph (D) below.

Appears in 1 contract

Samples: Credit Agreement (Marketing Specialists Corp)

New Debt. In the event any Company a Borrower incurs Indebtedness consented to by Required Lenders which is not otherwise permitted pursuant to Paragraph 6.1 hereof, all of the net cash proceeds of such Indebtedness shall be paid directly to Agent for the account of the LendersLenders and applied to the Loan as set forth in subparagraph (D) below.

Appears in 1 contract

Samples: Credit Agreement (Merkert American Corp)

New Debt. In the event any Company a Borrower incurs Indebtedness consented to by Required Lenders which is not otherwise permitted pursuant to Paragraph 6.1 hereof, all of the net cash proceeds of such Indebtedness shall be paid directly to Agent for the account of the LendersLenders and applied to the Loan as set forth in subparagraph (v) below.

Appears in 1 contract

Samples: Credit Agreement (Centennial Healthcare Corp)

AutoNDA by SimpleDocs

New Debt. In the event any Company a Borrower incurs Indebtedness -------- consented to by Required Lenders which is not otherwise permitted pursuant to Paragraph 6.1 hereof, all of the net cash proceeds of such Indebtedness shall be paid directly to Agent for the account of the LendersLenders and applied to the Loan as set forth in subparagraph (D) below.

Appears in 1 contract

Samples: Credit Agreement (Merkert American Corp)

New Debt. In the event any Company a Borrower incurs Indebtedness consented to by Required Lenders which is not otherwise permitted pursuant to Paragraph 6.1 hereof, all of the net cash proceeds of such Indebtedness shall be paid directly to Agent for the account of the LendersLenders and applied to the Loan as set forth in subparagraph (iv) below.

Appears in 1 contract

Samples: Credit Agreement (Centennial Healthcare Corp)

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