The Senior Credit Facility Clause Samples
The Senior Credit Facility clause defines the terms and structure of a primary loan or line of credit provided to a borrower, typically ranking above other debts in terms of repayment priority. This clause outlines key details such as the maximum borrowing amount, interest rates, repayment schedules, and any collateral requirements. By establishing the framework for the main source of financing, it ensures that both lender and borrower understand their rights and obligations, thereby reducing uncertainty and allocating financial risk appropriately.
The Senior Credit Facility. The Senior Credit Facility has been duly authorized by the Company and each Guarantor and, on the Closing Date, will have been duly executed and delivered by the Company and each Guarantor and will constitute a valid and binding agreement of the Company and each Guarantor, enforceable against the Company and each Guarantor in accordance with its terms, except as enforcement thereof may be limited by bankruptcy, fraudulent conveyance, insolvency, reorganization, moratorium or similar laws affecting enforcement of creditors’ rights generally or by general principles of equity.
The Senior Credit Facility. The Company shall have consummated the Senior Credit Facility, and such Senior Credit Facility shall have been funded prior to, or shall be funded simultaneously with, the Closing Date on terms reasonably satisfactory to the Administrative Agent, and the Administrative Agent shall have received counterparts, conformed as executed, of the Senior Credit Facility and such other documentation as they deem necessary to evidence the consummation of the Senior Credit Facility.
The Senior Credit Facility