Secured Lenders Sample Clauses

Secured Lenders. If any Secured Lender (or its Affiliate, if such Secured Lender is not a Lender) for any reason ceases to be a Lender, such Secured Lender shall continue to be bound by and entitled to the benefit of the terms and conditions hereof in such capacity and entitled to the benefit of the Loan Party Guarantee and the Security until such time as it receives payment of all Secured Obligations owing to it by any Loan Party at the time it (or such Affiliate, if applicable) ceased to be a Lender, with the exception of any indemnities of, or in favour of, such Secured Lender hereunder existing at that time and which shall survive such termination, provided that for greater certainty, it shall not be entitled to the benefit of this Agreement, the Loan Party Guarantee or the Security in respect of any amounts advanced by it or transactions entered into after it ceased to be a Lender.
View SourceView Similar (3)
Secured Lenders. (a) Key Credit Facility. The Company's line of credit facility ------------------- with Key Bank (the "Key Credit Facility") is secured by one or more security ------------------- interests or liens upon substantially all of the Company's assets. Buyer may, at its option, elect to leave the Key Credit Facility in place at Closing. However, Sellers acknowledge that the Key Credit Facility may need to be paid at closing in order to enable Buyer's lender to obtain a first lien position with respect to the Company's assets. Accordingly, Buyer may choose to pay off the Key Credit Facility at closing, and/or to refinance such amount with one or more lenders. In such event, the Company shall cooperate with Buyer in obtaining one or more pay-out letters from Key Bank, as well as UCC-3 termination statements and any other documents needed to satisfy of record all security interests and other liens held by Key Bank.
View Source
Secured Lenders. Developer shall have the right to mortgage, pledge, encumber, hypothecate or assign as security its right to receive the Tax Increment Payments (collectively the “Collateral”) to secure a loan, without obtaining IDB’s consent, provided that the loan is made by a Secured Lender. A “Secured Lender” is any lender or an agent for a syndicate of lenders that is the owner and holder of a promissory note, the indebtedness evidenced by which is obtained to finance Certified Costs, that is disclosed in a written notice given to IDB containing the name, notice address and contact Person of the Secured Lender to which the Collateral has been or will be mortgaged, pledged, encumbered, hypothecated or assigned as security. The provisions of this Section 16 are for the benefit of each Secured Lender and may be relied upon and shall be enforceable by each Secured Lender. In the event that there is more than one security interest affecting the Collateral, the most senior Secured Lender (determined by the order of recordation of its document perfecting said security interest in the Collateral) shall have priority in terms of exercising the rights of a Secured Lender pursuant to the provisions of this Section 16. A lender that has qualified as a Secured Lender shall continue in such status for purposes hereof until such time as the lender notifies IDB, in writing, that it has released its lien on the Collateral or has recorded such an instrument of record. Within ten (10) business days after ▇▇▇▇▇▇▇▇▇’s written request, IDB will acknowledge, in writing, the receipt of any such notice delivered by a Secured Lender to IDB. (a) Whenever IDB shall send Developer any written notice related to this Agreement, IDB shall also send a duplicate copy of such notice to each Secured Lender. If this Agreement is terminated due to the occurrence of an Event of Default or the rejection or disaffirmance of this Agreement pursuant to Section 365(a) of the Bankruptcy Code, 11 U.S.C. §365(a), as amended, IDB shall send Secured Lender a notice of termination (“Termination Notice”) whether or not IDB is required to send such Termination Notice to Developer. IDB shall not be obligated to send a Termination Notice to anyone at the expiration of the term of this Agreement. (b) Upon a Secured Lender’s receipt of written notice of a default hereunder (a “Default Notice”), the Secured Lender shall have the right, but not the obligation, to cure such Event of Default on behalf of Developer, and IDB sha...
View Source

Related to Secured Lenders

  • Required Lenders As of any date, the Lender or Lenders whose aggregate Commitment Percentage is equal to or greater than sixty-six and 7/10 percent (66.7%) of the Total Commitment; provided that in determining said percentage at any given time, all then existing Defaulting Lenders will be disregarded and excluded and the Commitment Percentages of the Lenders shall be redetermined for voting purposes only to exclude the Commitment Percentages of such Defaulting Lenders.

  • LENDERS KeyBank, the other lending institutions which are party hereto and any other Person which becomes an assignee of any rights of a Lender pursuant to §18 (but not including any participant as described in §18). The Issuing Lender shall be a Lender, as applicable. The Swing Loan Lender shall be a Lender.

  • Majority Lenders Where this Agreement or any other Security Document provides for any matter to be determined by reference to the opinion of the Majority Lenders or to be subject to the consent or request of the Majority Lenders or for any decision or action to be taken on the instructions in writing of the Majority Lenders, such opinion, consent, request or instructions shall (as between the Lenders) only be regarded as having been validly given or issued by the Majority Lenders if all the Lenders with a Commitment and/or Contribution shall have received prior notice of the matter on which such opinion, consent, request or instructions are required to be obtained and the relevant majority of such Lenders shall have given or issued such opinion, consent, request or instructions but so that (as between the Borrowers and the Banks) the Borrowers shall be entitled (and bound) to assume that such notice shall have been duly received by each relevant Lender and that the relevant majority shall have been obtained to constitute Majority Lenders whether or not this is in fact the case.

  • Designated Lenders (i) Subject to the terms and conditions set forth in this Section 12.1.2, any Lender may from time to time elect to designate an Eligible Designee to provide all or any part of the Loans to be made by such Lender pursuant to this Agreement; provided that the designation of an Eligible Designee by any Lender for purposes of this Section 12.1.2 shall be subject to the approval of the Agent (which consent shall not be unreasonably withheld or delayed). Upon the execution by the parties to each such designation of an agreement in the form of Exhibit F hereto (a “Designation Agreement”) and the acceptance thereof by the Agent, the Eligible Designee shall become a Designated Lender for purposes of this Agreement. The Designating Lender shall thereafter have the right to permit the Designated Lender to provide all or a portion of the Loans to be made by the Designating Lender pursuant to the terms of this Agreement and the making of such Loans or portion thereof shall satisfy the obligations of the Designating Lender to the same extent, and as if, such Loan was made by the Designating Lender. As to any Loan made by it, each Designated Lender shall have all the rights a Lender making such Loan would have under this Agreement and otherwise; provided, (x) that all voting rights under this Agreement shall be exercised solely by the Designating Lender, (y) each Designating Lender shall remain solely responsible to the other parties hereto for its obligations under this Agreement, including the obligations of a Lender in respect of Loans made by its Designated Lender and (z) no Designated Lender shall be entitled to reimbursement under Article III hereof for any amount which would exceed the amount that would have been payable by the Borrowers to the Lender from which the Designated Lender obtained any interests hereunder. No additional Notes shall be required with respect to Loans provided by a Designated Lender; provided, however, to the extent any Designated Lender shall advance funds, the Designating Lender shall be deemed to hold the Notes in its possession as an agent for such Designated Lender to the extent of the Loan funded by such Designated Lender. Such Designating Lender shall act as administrative agent for its Designated Lender and give and receive notices and communications hereunder. Any payments for the account of any Designated Lender shall be paid to its Designating Lender as administrative agent for such Designated Lender and neither the Borrowers nor the Agent shall be responsible for any Designating Lender’s application of such payments. In addition, any Designated Lender may (1) with notice to, but without the consent of, the Borrowers or the Agent, assign all or portions of its interests in any Loans to its Designating Lender or to any financial institution consented to by the Agent providing liquidity and/or credit facilities to or for the account of such Designated Lender and (2) subject to advising any such Person that such information is to be treated as confidential in accordance with Section 9.11, disclose on a confidential basis any non-public information relating to its Loans to any rating agency, commercial paper dealer or provider of any guarantee, surety or credit or liquidity enhancement to such Designated Lender. (ii) Each party to this Agreement hereby agrees that it shall not institute against, or join any other Person in instituting against, any Designated Lender any bankruptcy, reorganization, arrangement, insolvency or liquidation proceeding or other proceedings under any federal or state bankruptcy or similar law for one year and a day after the payment in full of all outstanding senior indebtedness of any Designated Lender. This Section 12.1.2 shall survive the termination of this Agreement.

  • New Lenders (a) Each of the New Lenders agrees to be bound by the provisions of the Credit Agreement (including, as amended pursuant to this Agreement), and agrees that it shall, on the Effective Date, become a Lender for all purposes of the Credit Agreement to the same extent as if originally a party thereto, with a Commitment as specified on Exhibit C-1 hereto. (b) Each of the New Lenders (a) represents and warrants that it is legally authorized to enter into this Agreement; (b) confirms that it has received a copy of the Existing Credit Agreement, together with copies of the financial statements most recently delivered pursuant to Section 6.1(a) and (b) thereof and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Agreement; (c) agrees that it has made and will, independently and without reliance upon the Administrative Agent or any other Lender and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Credit Agreement or any instrument or document furnished pursuant hereto or thereto; (d) appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under the Credit Agreement or any instrument or document furnished pursuant hereto or thereto as are delegated to the Administrative Agent by the terms thereof, together with such powers as are incidental thereto; and (e) agrees that it will be bound by the provisions of the Credit Agreement and will perform in accordance with its terms all the obligations which by the terms of the Credit Agreement are required to be performed by it as a Lender including, without limitation, if it is organized under the laws of a jurisdiction outside the United States, its obligation pursuant to Section 2.15(e) of the Credit Agreement. (c) The address for notices for each of the New Lenders for the purposes of the Credit Agreement is as specified on Exhibit C-2 hereto.