Examples of Addition Agreement in a sentence
The terms and provisions of each Lender Addition Agreement shall, upon the effectiveness thereof be incorporated into and made a part of this Agreement, and the covenants, agreements and obligations of each Lender set forth therein shall be deemed made to and for the benefit of Administrative Agent and the other parties hereto as if set forth at length herein.
Upon any such purchase of the Pro Rata Share of any Deteriorating Lender or Delinquent Lender, the Deteriorating Lender’s or Delinquent Lender’s share in future Advances and its rights under the Loan Documents with respect thereto shall terminate on the date of purchase, and the Deteriorating Lender or Delinquent Lender shall promptly execute all documents reasonably requested to surrender and transfer such interest, including, if so requested, a Lender Addition Agreement.
The amounts payable at any time hereunder to each Lender shall be a separate and independent debt, and, subject to the terms of any Lender Addition Agreement, each Lender shall be entitled to protect and enforce its rights arising out of this Agreement and it shall not be necessary for any other Lender to be joined as an additional party in any proceeding for such purpose.
Upon its receipt of a duly completed Lender Addition Agreement executed by an assigning Lender and an assignee, and Borrower (if required), together with any Note subject to such assignment and the processing fee referred to above, Administrative Agent will accept such Lender Addition Agreement and give notice thereof to Borrower and the other Lenders.
All rights and remedies existing under this Lender Addition Agreement are cumulative with, and not exclusive of, any rights or remedies otherwise available.
This Lender Addition Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns.
This Lender Addition Agreement and any amendments, waivers, consents, or supplements may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which, when so executed and delivered, will be deemed an original and all of which shall together constitute one and the same instrument.
Upon such delivery, the effective date (the “Effective Date”) of this Lender Addition Agreement shall be deemed to have occurred.
Whenever possible, each provision of this Lender Addition Agreement will be interpreted in such manner as to be effective and valid under applicable law.
In addition, in the event any provision of or obligation under this Lender Addition Agreement is or is held to be invalid, illegal, or unenforceable in any jurisdiction, the validity, legality, and enforceability of the remaining provisions or obligations in any other jurisdictions will not in any way be affected or impaired thereby.