Separate Loans. (a) At any time when a Lender becomes a Defaulting Lender, the maturity date of each of the participations of that Lender in the Facilities then outstanding will be automatically extended to the earlier of:
Separate Loans. Notwithstanding anything to the contrary contained in this Agreement or any other Loan Document, to the extent the loan agreement or promissory note which evidences a specified portion of the Indebtedness (herein referred to as a "Separate Loan"), or any security agreement, mortgage, deed of trust or other document which specifically secures such Separate Loan (collectively referred to as the "Separate Loan Documents"), expressly stipulates that the Separate Loan shall only be secured by specifically identified collateral or that the collateral described in the Separate Loan Documents shall not secure any Indebtedness other than the Separate Loan, the applicable provisions of the Separate Loan Documents shall control. Furthermore, to the extent any Separate Loan Document expressly stipulates that a default or event of default under the Loan Documents shall not, unless otherwise expressly stipulated in a Separate Loan Document, constitute a default or event of default with respect to the Separate Loan, the applicable provisions of the Separate Loan Documents shall control.
Separate Loans. Company acknowledges that Lender is making the Term Loan and the Revolving Loan under the terms of this single Loan Agreement, and not under the terms of separate loan agreements, as a matter of convenience for both parties, and neither party hereto intends thereby that Company shall have any recourse to Lender under the terms of one Loan or Note as a remedy to Lenders’ breach of or failure to perform under the terms of the other Loan or Note. Accordingly, for purposes of determining the Company’s rights and the Lender’s obligations with respect to each Loan, the parties deem this Agreement to constitute two separate loan agreements. In particular, and without limiting the effect of any of the foregoing, Company acknowledges and agrees that in the event Lender breaches or fails to perform any obligation under the Revolving Loan, the Revolving Note or any provision of any other Transaction Document affecting the Revolving Loan or the Revolving Note, Company shall have no recourse and shall pursue no remedy whatsoever with respect to the Term Loan, and shall continue to make all required payments of principal, interest and all other amount due and owing under the terms of this Agreement with respect to the Term Loan, the Term Note and any other provision of any other Transaction Document affecting the Term Loan and the Term Note. 5.18
Separate Loans. It is agreed that with respect to each Loan, all the provisions of this Agreement and the Loan Supplement shall apply mutatis mutandis separately and independently to each such Loan and the expressions “Account”, “
Separate Loans. 95 EXHIBIT A - LEGAL DESCRIPTION OF PROPERTIES EXHIBIT B - ENVIRONMENTAL REPORTS SCHEDULE 1 ALLOCATED LOAN AMOUNTS SCHEDULE 2 PERMITTED ENCUMBRANCES AND OPERATING AGREEMENTS SCHEDULE 3 SPECIAL ASSESSMENTS SCHEDULE 4 SPECIFIED PROPERTIES SCHEDULE 5 SEISMIC RETROFITTING WORK INDENTURE OF MORTGAGE, DEED OF TRUST, SECURITY AGREEMENT, FINANCING STATEMENT, FIXTURE FILING AND ASSIGNMENT OF LEASES, RENTS AND SECURITY DEPOSITS THIS INDENTURE OF MORTGAGE, DEED OF TRUST, SECURITY AGREEMENT, FINANCING STATEMENT, FIXTURE FILING AND ASSIGNMENT OF LEASES, RENTS AND SECURITY DEPOSITS (herein, together with all amendments and supplements thereto, this "Mortgage"), dated as of the ____ day of January, 1997, is made by --------- ____________________________, [each] a ________ [limited partnership/corporation/limited liability company] (collectively, "Grantor"), ------- having an address c/o _____________________, to [ ] Title Insurance Company, having an address at _____________________________ ("Trustee"), for ------- the benefit of XXXXXX GUARANTY TRUST COMPANY OF NEW YORK, a New York banking corporation, having an address at 00 Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000, together with its successors and assigns, "Beneficiary"). -----------
Separate Loans. Beneficiary reserves the right, exercisable at -------------- any time prior to and contemporaneously with a Securitization, to partition the Loan into two (2) separate components which, together, shall equal the Loan Amount set forth in this Mortgage and which, together, shall bear interest at the same combined Applicable Interest Rate(s) set forth in the Note hereby secured (it being understood that due diligence may result in certain adjustments to the term and amortization of the Partnership Loan). The first component shall be a cross-collateralized, cross-defaulted mortgage secured by the Properties, in substantially the same form as this Mortgage. The second component shall be structured as a fully recourse partnership loan ("Partnership ----------- Loan") made by Beneficiary to certain single purpose parents of partners of ---- Grantor which shall be secured by a pledge of the partners' partnership interest in Grantor. The second component shall not exceed $10,000,000. The Partnership Loan and the loan secured by the mortgage shall be cross defaulted. In addition, the Cash Collateral Agreement shall be amended to provide that Beneficiary shall pay all Operating Expenses from the Operating Account and that the Agent shall disburse the monthly principal and interest payments on the Partnership Loan to the holder thereof before the balance of any amounts remaining in the Operating Account are released to Grantor. Beneficiary shall pay all reasonable, out-of pocket legal fees, title insurance fees and mortgage recordation costs incurred by Grantor, as well as Beneficiary's own costs, in connection with the partitioning of the Loan. The loan documents in connection with the Partnership Loan shall be in form and substance acceptable to Beneficiary and shall contain such representations, warranties and covenants as Beneficiary shall require in similar partnership loans. In the event Beneficiary exercises its option to so partition the Loan, such partitioning shall not effect the aggregate Loan Amount, the aggregate interest rate or maturity of the Loan or any other term or condition of the Loan, it being agreed that each component shall have similar rights with respect to prepayment, release of individual properties, application of insurance proceeds and condemnation awards, provided however, that provisions required as a result of a contemplated securitization shall not be applicable with respect to the second component of the Loan.
Separate Loans. For certainty, the Term B Loan is a separate loan from all other Obligations owing under this Agreement.
Separate Loans. At Bank's discretion, Credit Extensions shall be made separately to AMI and AMSI based on the Collateral of each, but the Borrowing Base and the Credit Extension maximums set forth herein (e.g., the Committed Revolving Line amount and the Committed Equipment Line amount) shall apply for both AMI and AMSI combined.
Separate Loans. Citizens reserves the right, upon seven (7) days prior notice to the Borrowers, to require separate Borrowing Base Reports for each of the Borrowers and to maintain separate loans to each or to some aggregate of Borrowers limited in accordance with such separate Borrowing Base Reports which loans in the aggregate shall not exceed the Maximum Credit.
Separate Loans. The parties acknowledge that notwithstanding the classification of ASI, Sistemas and ASM collectively as Borrower in this Agreement, ASI is the sole payor under the terms of the Note executed by ASI in favor of Lender (the "ASI Note"), and Sistemas and ASM are the sole payors under the terms of the Note (Xxxxxx) executed by Sistemas and ASM in favor of Lender (the "Xxxxxx"). The repayment obligations of ASI with respect to the Xxxxxx Note arise solely by virtue of ASI's status as Guarantor thereof. XXXXXX INTEREST RATE OPTION. Notwithstanding the absence of a reference to the Libor Option in the Xxxxxx, Sistemas and ASM shall have the same rights to elect alternative interest rates with respect to Loan Advances under the Xxxxxx as are granted to ASI under the ASI Note, subject to the Advance Limitations and other restrictions and limitations set forth in the ASI Note. XXXXXX DEMAND PROVISION. Notwithstanding that the terms of the Xxxxxx provide that the Xxxxxx shall be payable on demand, so long as no Event of Default has occurred and is continuing under the terms of this Agreement, the Xxxxxx or any of the other Related Documents, no demand for the repayment of principal shall be made by Lender under the terms of the Xxxxxx until June 30, 2001, the maturity date of the ASI Note, at which time the entire unpaid principal balance of the Xxxxxx, all accrued and unpaid interest thereon and all other amounts due under the terms of this Agreement and the other Related Documents shall be immediately due and payable. BORROWER ACKNOWLEDGES HAVING READ ALL THE PROVISIONS OF THIS LOAN AGREEMENT, AND BORROWER AGREES TO ITS TERMS. THIS AGREEMENT IS DATED AS OF JUNE 30, 1999. BORROWER: AGRICULTURAL SUPPLY, INC. BY: /s/ XXXX XXXXXXX (SEAL) ------------------------------------------ AUTHORIZED SIGNATORY ATTEST: /s/ XXXX XXXXXXX (Corporate Seal) --------------------------------------------- Secretary or Assistant Secretary SISTEMAS Y EQUIPOS AGRICOLAS, S.A. DE C.V. By: (SEAL) ------------------------------------------ AUTHORIZED SIGNATORY AGRICULTURAL SUPPLY DE MEXICO, S.A. DE C.V. By: (SEAL) ------------------------------------------ AUTHORIZED SIGNATORY LENDER: FIRST NATIONAL BANK By: /s/ [ILLEGIBLE] ------------------------------------------ Authorized Officer
