Payment of Senior Facility Liabilities Sample Clauses

Payment of Senior Facility Liabilities. The Debtors may make Payments of the Senior Facility Liabilities at any time in accordance with the Finance Documents.
Sample 1
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Payment of Senior Facility Liabilities. The Debtors may make Payments of the Senior Facility Liabilities at any time in accordance with the Senior Facility Finance Documents, provided that (following the occurrence of a Distress Event or an Insolvency Event) any Payment by any Debtor in respect of any of the Senior Facility Liabilities shall be paid to the Security Agent for application in accordance with Clause 17 (Application of Proceeds) and, for the avoidance of doubt, any Payment of any of the Senior Facility Liabilities received or recovered by any Senior Facility Creditor (other than through distribution of Recoveries in accordance with Clause 17 (Application of Proceeds)) following the occurrence of any such Distress Event or Insolvency Event shall be subject to Clause 9 (Turnover of Receipts).
Sample 1

Related to Payment of Senior Facility Liabilities

  • Litigation and Contingent Liabilities No litigation (including derivative actions), arbitration proceeding or governmental investigation or proceeding is pending or, to the Company’s knowledge, threatened against any Loan Party which might reasonably be expected to have a Material Adverse Effect, except as set forth in Schedule 9.6. Other than any liability incident to such litigation or proceedings, no Loan Party has any material contingent liabilities not listed on Schedule 9.6 or permitted by Section 11.1.

  • Default Liabilities 6.1 The Parties agree and acknowledge that, if any Party (hereinafter the “Defaulting Party”) commits material breach of any provision hereof, or materially fails to perform or delays in performing any obligation hereunder, such breach or failure or delay shall constitute a default under this Agreement (hereinafter a “Default”), then any non-defaulting Party shall be entitled to demand the Defaulting Party to rectify such Default or take remedial measures within a reasonable period. If the Defaulting Party fails to rectify such Default or take remedial measures within such reasonable period or within 10 working days following the written notice issued by the non-defaulting Party and the rectification requirement, the non-defaulting Party shall be entitled to decide to, at its discretion:

  • Unpaid Reimbursement Obligation Any Reimbursement Obligation for which the Borrower does not reimburse the Agent and the Banks on the date specified in, and in accordance with, Section 4.2.

  • ADDITIONAL PAYMENT OBLIGATIONS 15. Tax gross-up and indemnities

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