Acquisition Lender definition
Examples of Acquisition Lender in a sentence
Each Acquisition Lender severally agrees, subject to the limitations set forth below with respect to the maximum amount of Acquisition Loans permitted to be outstanding from time to time, to lend to Company from time to time during the period from the Merger Date to but excluding the Acquisition Loan Commitment Termination Date an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the Acquisition Loan Commitments to be used for the purposes identified in subsection 2.5C.
Each Acquisition Lender is hereby irrevocably authorized by the Borrower to endorse its Acquisition Loan Note and to attach to and make a part of its Acquisition Loan Note a continuation of such schedule as and when required.
The obligations of each Acquisition Lender hereunder shall be several and not joint.
Subject to the terms and conditions set forth herein, each Acquisition Lender severally agrees to make Acquisition Loans to the Borrowers from time to time, on any Business Day during the Availability Period for the Acquisition Facility, in an aggregate amount not to exceed such Acquisition Lender’s Acquisition Commitment.
Upon any reduction of the unused portion of the aggregate Acquisition Commitments, the Acquisition Commitment of each Acquisition Lender shall be reduced by such Lender’s ratable portion of such reduction amount.