Accordion Lender definition

Accordion Lender means an existing Lender or a proposed new Lender that has agreed to accept an Individual Commitment with respect to the Credit Facility designated in an Accordion Notice delivered to the Administrative Agent pursuant to and in accordance with Section 2.4(a).

Accordion Lender shall have the meaning assigned to it in Section 1.05(e).

Accordion Lender has the meaning given to that term in Clause 2.3 (Additional Commitments).

Examples of Accordion Lender in a sentence

• The Credit Agreement shall, henceforth from the date of the execution and delivery of this Accordion Agreement, be read and construed as if the Accordion Lender were party to the Credit Agreement having all the rights and obligations of a Lender under the Credit Agreement having the [Commitment/Applicable Percentage of the [Revolving /Wholesale Flooring A/Used Vehicle Flooring/Wholesale Leasing/Daily Rental] Facility Limit] set out in paragraph 2 below.

• The Accordion Lender represents and warrants to each of the other parties to the Credit Agreement that it has been provided with a copy of the Credit Agreement.

• THE ANDERSONS CANADA LIMITED <*>as Accordion Lender By: By: Name: Name: Title: Title: SCOTIABANK ASSET FINANCE, a division of THE BANK OF NOVA SCOTIA, as Administrative Agent By: Name: Title: .

• On each Accordion Effective Date on which an Accordion Lender becomes a Lender, this Agreement and each other Financing Agreement shall henceforth be read and construed as if such Accordion Lender were party to this Agreement as a Lender having all of the rights and obligations of a Lender expressed herein with respect to the Commitment that the Lender has agreed to accept and all references to any Lenders in any Financing Agreement shall (to the extent the context so admits) be construed accordingly.

• Borrowers shall be responsible for all reasonable fees, costs and expenses relating to the adding of any new Accordion Lender.

More Definitions of Accordion Lender

Accordion Lender has the meaning given to that term in Clause 2.2 (Accordion) of the Facilities Agreement.

Accordion Lender means a Lender that has agreed to accept an increase to such Lender’s Applicable Percentage of the Revolving Limit, the Wholesale Flooring A Facility Limit, the Used Vehicle Flooring Facility Limit, the Wholesale Leasing Limit and/or the Daily Rental Limit, as applicable, pursuant to and in accordance with Section 2.6(b). (3) “Accordion Notice” has the meaning given to it in Section 2.6(a). (4) “Acquisition” means the following: (a) with respect to any Person that is a Designated Subsidiary, the acquisition (whether for cash, property, services, securities or otherwise) of any businesses within the retail automotive and/or recreational vehicle sectors, automotive, recreational vehicle leasing and finance sectors, any dealerships, any automotive body shops, any automotive and/or recreational vehicle service shops, and in each case any ancillary businesses related thereto, in each case, located within Canada or the United States of America or any agreements to make such acquisition. (b) with respect to any Person that is a Non-Designated Subsidiary, the acquisition (whether for cash, property, services, securities or otherwise) of any businesses within the retail automotive and/or recreational vehicle sectors, equipment (including heavy and agricultural equipment) sales and service sector, automotive, equipment and recreational vehicle leasing and finance sectors, any dealerships, any automotive body shops, any automotive and/or recreational vehicle service shops, any motor vehicle registry services, and in each case any ancillary businesses related thereto, in each case, located within Canada or the United States of America or any agreements to make such acquisition. (5) “Adjusted Daily Compounded XXXXX” means, for purposes of any calculation, the rate per annum equal to (a) Daily Compounded XXXXX for such calculation plus (b) the Daily Compounded XXXXX Adjustment; provided that if Adjusted Daily Compounded XXXXX as so determined shall ever be less than the Canadian Floor, then Adjusted Daily Compounded XXXXX shall be deemed to be the Canadian Floor. (6) “Adjusted Term XXXXX” means, for purposes of any calculation, the rate per annum equal to (a) Term XXXXX for such calculation plus (b) the Term XXXXX Adjustment; provided that if Adjusted Term XXXXX as so determined shall ever be less than the Canadian Floor, then Adjusted Term XXXXX shall be deemed to be the Canadian Floor. (7) “Administrative Agent” means The Bank of Nova Scotia when acting as administrat...

Accordion Lender means a Lender or a proposed new Lender acceptable to the Administrative Agent and the Issuing Lenders, acting reasonably, that has agreed to accept an additional Individual Commitment with respect to the Credit Facility or an initial Individual Commitment with respect to the Credit Facility designated in an Accordion Notice delivered to the Administrative Agent pursuant to and in accordance with Section 2.6.

Accordion Lender means any Lender or any bank, financial institution, trust, fund or other entity which has agreed to make available Accordion Commitments in accordance with Clause 2.5 (Accordion Facility).

Accordion Lender means a Lender or a proposed new Lender listed in Schedule I, Schedule II or Schedule III of the Bank of Act (Canada) that has agreed to accept an additional Individual Commitment with respect to the RT Facility or an initial Individual Commitment with respect to the RT Facility designated in an Accordion Notice delivered to the Administrative Agent pursuant to and in accordance with Section 2.6(a).

Accordion Lender means an Increasing Lender or a New Accordion Lender.

Accordion Lender has the meaning given to that term in Clause 2.2 (Accordion) of the 2017 Credit Agreement.