ABL Facility Agent definition
Examples of ABL Facility Agent in a sentence
The Corporation agrees to participate in the Ontario Municipal Retirement System Pension Plan in accordance with the applicable legislation, with the Corporation and the Employees contributing equally.
The Debtors, the ABL Facility Agent and the ABL Facility Lenders entered into a Forbearance Agreement dated March 17, 2015 (the “Initial Forbearance”), pursuant to which the ABL Facility Lenders agreed to make up to $2,045,263.39 of additional advances and forbear from exercising their rights under the ABL Loan Agreement until March 23, 2015.
On March 4, 2015, the ABL Facility Agent delivered a notice of an event of default related to such overadvance and financial covenants under the ABL Loan Agreement.
The Debtors immediately engaged in discussions with the ABL Facility Agent regarding not only the valuation of the inventory, but also the Debtors’ precarious liquidity position.
There is an optional exemption for certain short-term leases and leases of low value assets; however, this exemption can only be applied by lessees.