Examples of Borrowing Base Guarantors in a sentence
All expenses of protecting, storing, warehousing, insuring, handling, maintaining and shipping any Collateral, all Taxes payable with respect to any Collateral (including any sale thereof), and all other payments required to be made by Agent to any Person to realize upon any Collateral, shall be borne and paid by Borrower and Borrowing Base Guarantors.
Borrower and Borrowing Base Guarantors shall at all times take all reasonable actions to defend their title to Collateral and Agent’s Liens therein against all Persons, claims and demands whatsoever, except Permitted Liens.
Borrower and each Borrowing Base Guarantor hereby authorizes Agent and Lenders (but they shall have no obligation) to respond to usual and customary credit inquiries from third parties concerning Borrower, Borrowing Base Guarantors, or any other Subsidiary.
If either (a) Accounts owing to Borrower and/or Borrowing Base Guarantors in an aggregate face amount of $5,000,000 or more during a Dominion Period or (b) Accounts owing to Borrower and/or Borrowing Base Guarantors of any one Account Debtor in an aggregate face amount of $5,000,000 or more at any time, cease to be Eligible Accounts, Borrower shall notify Agent of such occurrence promptly (and in any event within five Business Days) after Borrower or any Borrowing Base Guarantor has knowledge thereof.
The Borrowers and Borrowing Base Guarantors shall not permit more than $15,000,000 in the aggregate of their Inventory to be located at any location not listed on Schedule 3.24 to Amendment No. 2 (other than Inventory in transit), as updated from time to time in any Perfection Certificate Supplement or Borrowing Base Certificate.
Terms are used herein as defined in the Amended and Restated Loan and Security Agreement dated as of March 17, 2014, among Borrower, the Borrowing Base Guarantors party thereto, Bank of America, N.A., as Agent, Lender, and certain other financial institutions, as such agreement may be amended, modified, renewed or extended from time to time (“Loan Agreement”).
NewPageCo and the Borrowing Base Guarantors have centralized accounting, common officers and directors and are in certain circumstances identified to creditors as a single economic and business enterprise.
As of the Closing Date, there are no Borrowing Base Guarantors other than AK Tube and Mountain State Carbon.
NewPageHoldCo is the direct or indirect and beneficial owner and holder of all of the issued and outstanding shares of stock or other Equity Interests in NewPageCo and the other Borrowing Base Guarantors.
Notwithstanding anything to the contrary set forth in this Agreement, prior to the entry of the DIP Recognition Order, (i) no proceeds of the Advances hereunder shall directly, or indirectly, be made available to, or used on behalf of, the Canadian Borrowing Base Guarantors and (ii) no assets of the Canadian Borrowing Base Guarantors shall be included in the calculation of the Borrowing Base.