Common use of Single Loan Clause in Contracts

Single Loan. All Loans to each U.S. Borrower and all of the other Obligations of each U.S. Borrower arising under this Agreement and the other Loan Documents shall constitute one general obligation of that Borrower secured, until the Termination Date, by all of the Collateral of each U.S. Borrower and each Guarantor of the U.S. Borrowers’ Obligations. All Loans to each Canadian Borrower and all of the other Obligations of each Canadian Borrower arising under this Agreement and the other Loan Documents shall constitute one general obligation of that Borrower secured, until the Termination Date, by all of the Collateral of the Borrowers and Guarantors.

Appears in 4 contracts

Samples: Credit Agreement (XPO Logistics, Inc.), Credit Agreement (XPO Logistics, Inc.), Revolving Loan Credit Agreement (XPO Logistics, Inc.)

AutoNDA by SimpleDocs

Single Loan. All Loans to each U.S. US Borrower and all of the other Obligations of each U.S. US Borrower arising under this Agreement and the other Loan Documents shall constitute one general obligation of that Borrower secured, until the Termination Date, by all of the Collateral of each U.S. Borrower and each Guarantor of the U.S. US Borrowers’ Obligations. All Loans to each Canadian Borrower and all of the other Obligations of each Canadian Borrower arising under this Agreement and the other Loan Documents shall constitute one general obligation of that Borrower secured, until the Termination Date, by all of the Collateral held by the Canadian Borrowers and all of the Borrowers and GuarantorsCollateral held by the US Borrowers.

Appears in 2 contracts

Samples: Credit Agreement (Wesco International Inc), Credit Agreement (Wesco International Inc)

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