Examples of ABL Loan Agreement in a sentence
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, 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.
While the March RSA was still being negotiated, the Debtors, the ABL Facility Agent and the ABL Facility Lenders negotiated and entered into a Forbearance Agreement dated March 25, 2015 (the “Second Forbearance”), pursuant to which the ABL Facility Lenders agreed to make certain additional advances and forbear from exercising their rights under the ABL Loan Agreement until March 30, 2015.
As of the Closing Date, (i) the Reserves are as set forth in the most recent Borrowing Base Certificate delivered in connection with the ABL Loan Agreement and (ii) the Intellectual Property Reserves are as set forth on the Borrowing Base Certificate delivered on the Closing Date.
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 of additional advances and forbear from exercising their rights under the ABL Loan Agreement until March 23, 2015.