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:
(i) the first Business Day falling 364 days after the date on which the Agent or a Borrower gives notice to the Defaulting Lender and the other Parties that the relevant Lender has become a Defaulting Lender, and will be treated as separate Facilities (the “Separate Loans”) denominated in the currency in which the relevant participations are outstanding; and
(ii) the last day of the Availability Period.
(b) A Borrower to whom a Separate Loan is outstanding may prepay that Separate Loan by giving 10 Business Days’ prior notice to the Agent. The Agent will forward a copy of a prepayment notice received in accordance with this paragraph (b) to the Defaulting Lender concerned as soon as practicable on receipt.
(c) Interest in respect of a Separate Loan will accrue for successive Terms selected by a Borrower by the time and date specified by the Agent acting reasonably and will be payable by that Borrower to the Defaulting Lender on the last day of each Term of that Advance.
(d) The terms of this Agreement relating to the Facilities generally shall continue to apply to Separate Loans other than to the extent inconsistent with paragraphs (a) to (c) above in which case those paragraphs shall prevail in respect of any Separate Loans.
(e) If at any time while a Separate Loan is outstanding the Borrower transfers the relevant Defaulting Lender’s outstanding participations to a Replacement Lender in accordance with Clause 26.5 (Replacement of Lenders), each Separate Loan transferred to the Replacement Lender will automatically become, on the last day of the current Term for each such Separate Loan, a Revolving Credit Advance and paragraphs (a) to (c) above (inclusive) shall cease to apply to that Advance while such Replacement Lender is not a Defaulting Lender.
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. 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.
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 Loans then outstanding will be automatically extended to the Termination Date applicable to the Facility and will be treated as separate loans (the “Separate Loans”) denominated in the currency in which the relevant participations are outstanding.
Separate Loans. For certainty, the Term B Loan is a separate loan from all other Obligations owing under this Agreement.
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. 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. Beneficiary reserves the right, exercisable at any time on or before the first anniversary hereof, to modify the Loan Documents to provide for two or more mortgage notes, secured by separate mortgages and other loan documents, which are not cross-defaulted or cross-collateralized, creating Liens upon two or more pools of the Properties, such pools to be determined at the sole discretion of the Beneficiary. In the event such right is exercised by Beneficiary, such amended and restated notes, mortgages and other loan documents shall be on the same terms and conditions as the Note, this Mortgage and the other Loan Documents, except that (i) Grantor's right to release Specified Properties pursuant to Section 38(b) hereof shall be modified to permit the release of a total of five of the Properties, subject to the absolute discretion of the Beneficiary as to the specific Properties to be released; and (ii) the Aggregate Alteration Threshold and the Aggregate Casualty Amount shall be reduced in proportion to the number of pools of Properties created (e.g., if two (2) pools are created, the Aggregate Alteration Threshold and the Aggregate Casualty Amount shall be reduced by one-half of the amount provided for in this Mortgage).
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.
