Canadian Facility Secured Parties definition

Canadian Facility Secured Parties. Agent, Canadian Issuing Bank, Canadian Lenders, Secured Bank Product Providers of Bank Products to Canadian Facility Loan Parties, and the Lead Arrangers.
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Canadian Facility Secured Parties the Agent, the Canadian Issuing Bank, the Canadian Lenders and the Secured Bank Product Providers who provide Bank Products to the Canadian Facility Obligors and their Subsidiaries. Canadian Inventory Formula Amount: the sum of: (a) the lesser of (i)as of any date of determination, the lesser of (a) the sum of (i) with respect to Eligible Inventory that has been owned by the Canadian Borrower for less than one (1) calendar year as of the applicable date of determination, (A) for the period beginning on March 1 through and including September 30 of each Fiscal Year, 65% of the Value of the Canadian Borrower’s Eligible Inventory, or (ii) 85% of the NOLV Percentage(B) for the period beginning on October 1 through and including February 28 (or February 29, as applicable) of each Fiscal Year, 75% of the Value of the Canadian Borrower’s Eligible Inventory, plus (ii) with respect to Eligible Inventory that has been owned by the Canadian Borrower for at least one (1) calendar year, but not more than two (2) calendar years, as of the applicable date of determination, 50% of the Value of the Canadian Borrower’s Eligible Inventory, plus (b) the lesser of (i) $2,000,000, (ii) 65% of the Value of the Canadian Borrower’s Eligible In-Transit Inventory, or (iii) with respect to Eligible Inventory that has been owned by the Canadian Borrower for more than two (2) calendar years as of the applicable date of determination, 30% of the Value of the Canadian Borrower’s Eligible Inventory; or (b) 85% of the NOLV Percentage of the Value of the Canadian Borrower’s Eligible In-Transit InventoryInventory. Notwithstanding the foregoing, the aggregate amount of the Canadian Inventory Formula Amount which may be attributed to Eligible In-Transit Inventory (the “Canadian In-Transit Availability”) shall not exceed $5,000,000; provided that, Agent, in its sole discretion (and with the consent of either (x) the Required Lenders, or (y) the Documentation Agent), may elect to increase the then applicable limit by 10% on or about each anniversary of the Third Amendment Effective Date; provided further that, the Canadian In-Transit Availability (after taking into effect the previous proviso) shall be reduced by the Canadian Expeditors Reserve if, as of any date of determination, either (I) Canadian Net Excess Availability is less than 10% of the Maximum Canadian Facility Amount, or (II) there are any accounts payable owed by any Canadian Facility Obligor to Expeditors which are aged in excess ...
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Examples of Canadian Facility Secured Parties in a sentence

  • Some merchants will be required to use a computer terminal (virtual terminal) to enter transactions directly to the card processing company’s website.

  • Should the Canadian Borrower default in the payment or performance of any of the Canadian Facility Obligations, the obligations of each Guarantor hereunder with respect to such Canadian Facility Obligations in default shall, upon demand by the Agent, become immediately due and payable to the Agent, for the benefit of the Canadian Facility Secured Parties and the Agent, without demand or notice of any nature, all of which are expressly waived by each Guarantor.

  • Each Guarantor agrees that it will from time to time, at the request of the Agent, do all such things and execute all such documents as the Agent may consider necessary or desirable to give full effect to this Guarantee and to perfect and preserve the rights and powers of the Canadian Facility Secured Parties and the Agent hereunder.

  • All payments by each Guarantor hereunder shall be made to the Agent, in the manner and at the place of payment specified therefor in the Credit Agreement, for the account of the Canadian Facility Secured Parties and the Agent.

  • The provisions of this Section 6 shall be supplemental to and not in derogation of any rights and remedies of the Canadian Facility Secured Parties and the Agent under any separate subordination agreement which the Agent may at any time and from time to time enter into with any Guarantor for the benefit of the Canadian Facility Secured Parties and the Agent.

  • Secured Parties: Canadian Facility Secured Parties and/or U.S. Facility Secured Parties, as the context requires.

  • Canadian Facility Secured Parties hereby authorize Agent and Security Trustees to subordinate their Liens to any Purchase Money Lien or other Lien entitled to priority under this Agreement.

  • Canadian Facility Secured Parties and/or U.S. Facility Secured Parties and/or U.K. Facility Secured Parties, as the context requires.

  • All Liens granted to Agent under the Loan Documents by (a) the U.S. Domiciled Obligors are for the benefit of the Secured Parties and (b) the Canadian Domiciled Obligors are for the benefit of the Canadian Facility Secured Parties.

  • As security for all Obligations, each U.S. Domiciled Obligor hereby grants to Agent, for the benefit of the Secured Parties, and as security for all Canadian Facility Obligations, each Canadian Domiciled Obligor hereby grants to Agent, for the benefit of the Canadian Facility Secured Parties, in each case, a security interest in and Lien upon all Cash Collateral held from time to time and all proceeds thereof, whether held in a Cash Collateral Account or otherwise.

Related to Canadian Facility Secured Parties

  • Canadian Facility means, at any time, the aggregate amount of the Canadian Commitments at such time.

  • Canadian Secured Parties means the Canadian Administrative Agent, the Canadian Facility Lenders, and the Banking Services Providers and Swap Counterparties who are owed any Canadian Secured Obligations.

  • First Priority Secured Parties means, with respect to each Type of Common Collateral, the First Priority Representative and the holders of the First Priority Obligations.

  • Canadian Loan Parties means the Canadian Borrower and the Canadian Guarantors.

  • Second Priority Secured Parties means the Second Priority Representative, the Second Priority Creditors and any other holders of the Second Priority Obligations.

  • Revolving Loan Facility means the credit facility or portion thereof established by Lender in favor of Borrower for the purpose of providing working capital in the form of loans and/or Letters of Credit to finance the manufacture, production or purchase and subsequent export sale of Items pursuant to Loan Documents under which Credit Accommodations may be made and repaid on a continuous basis based solely on credit availability on the Export-Related Borrowing Base during the term of such credit facility

  • Priority Lien Secured Parties means the holders of Priority Lien Obligations and any Priority Debt Representatives.

  • First Lien Secured Parties means (i) the Credit Agreement Secured Parties and (ii) the Additional First-Lien Secured Parties with respect to each Series of Additional First-Lien Obligations.

  • Second Lien Secured Parties means, at any relevant time, the holders of Second Lien Obligations at such time, including without limitation the Second Lien Lenders and the agents under the Second Lien Credit Agreement.

  • Term Loan Secured Parties means the “Secured Parties” as defined in the Term Loan Credit Agreement.

  • Term Loan Collateral Agent means Credit Suisse, Cayman Islands Branch, as collateral agent for the lenders under the Term Loan Credit Agreement, together with its respective successors and permitted assigns under the Term Loan Credit Agreement exercising substantially the same rights and powers, or such other agent as may from time to time be appointed thereunder.

  • Term Loan Facility means the Term Loan Commitments and the provisions herein related to the Term Loans.

  • Canadian Collateral means any and all property of any Canadian Loan Party covered by the Collateral Documents and any and all other property of any Canadian Loan Party, now existing or hereafter acquired, that may at any time be or become subject to a security interest or Lien in favor of the Administrative Agent to secure the Canadian Secured Obligations.

  • Credit Agreement Secured Parties means the “Secured Parties” as defined in the Credit Agreement.

  • Revolving Loan Obligations means any Obligations with respect to the Revolving Loans (including without limitation, the principal thereof, the interest thereon, and the fees and expenses specifically related thereto).

  • ABL Secured Parties means the ABL Representative, the ABL Creditors and any other holders of the ABL Obligations.

  • Canadian Security Documents means the Canadian Security Agreement, any share pledge agreement governed by Canadian law which provides for a Lien in favor of the Agent as security for any of the Obligations, and each other agreement, document or instrument executed by any Loan Party governed by Canadian law which provides for a Lien in favor of the Agent as security for any of the Obligations.

  • Canadian Obligations means the Obligations owing by the Canadian Borrower.

  • Additional First Lien Secured Parties means the holders of any Additional First Lien Obligations and any trustee, authorized representative or agent of such Additional First Lien Obligations.

  • Term Loan Obligations means the “Obligations” as defined in the Term Loan Credit Agreement.

  • First Lien Lenders means the “Lenders” under and as defined in the First Lien Credit Agreement.

  • U.S. Secured Parties the “Secured Parties” as defined in the U.S. Guarantee and Collateral Agreement.

  • First Lien Credit Documents means the “Credit Documents” as defined in the First Lien Credit Agreement.

  • DIP means (1) the debtor in possession in a chapter 11 case in which no trustee has been appointed and is serving, and (2) the debtor in possession in a chapter 12 case in which the debtor has not been removed under §1204 without reinstatement.

  • Prepetition Secured Parties means the “Secured Parties” under, and as defined in, the Prepetition Credit Agreement, in each case as amended, modified or supplemented through the Petition Date.

  • First Lien Loan Documents means the “Loan Documents” as defined in the First Lien Credit Agreement.