Examples of ABL Lenders in a sentence
Upon its termination or resignation, the Trustee of the Second Trust will promptly settle the existing rights and obligations of the Trustee of the Second Trust as against the Trustor of the Second Trust and the Beneficiaries of the Second Trust and deliver to the Successor Trustee or to a person designated by the Majority Beneficiaries and ABL Lenders, all records, files, and information held in accordance with the Second Trust Agreement.
The Servicer will agree that a copy of such Monthly Report may be provided by the Trustee of the Second Trust to the Beneficiaries of the Second Trust, the ABL Lenders to the Second Trust, the Rating Agencies and any other person who is deemed necessary by the Trustee of the Second Trust.
If the Trustee of the Second Trust is dismissed or resigns pursuant to the Second Trust Agreement (except for (c) of C above), the Majority Beneficiaries and ABL Lenders will, jointly appoint a Successor Trustee which meets the Trustee Eligibility Criteria and is willing to accept the appointment as trustee under the Second Trust Agreement.
The ABL Lenders to the Second Trust will have recourse only to the Trust Assets of the Second Trust and will have no recourse against the Trustee of the Second Trust’s own assets as borrower under the Asset Backed Loans to the Second Trust.
The ABL Agent, the ABL Lenders, the Term Loan Agents and the Term Loan Lenders shall have no duty to advise any other party hereunder of information known to it or them regarding such condition or any such circumstances or otherwise.