CF Obligations definition
Examples of CF Obligations in a sentence
Payments received by GECC from or on account of Borrower shall be applied in the following order: (i) first to satisfy the CF Obligations until (y) all of the CF Obligations have been paid in full, and (z) CF has no obligation to extend any credit to Borrower under any one or more of the CF Documents, the Forbearance Agreements, or otherwise, and (ii) second, and only after the CF Obligations have been paid in full, to satisfy the EF Obligations.
Guarantor Bad Toys has executed and delivered the Tri-Party Agreement for the benefit of GECC, whereby, among other things, Guarantor guaranteed payment in full of Borrower’s obligations to pay the entire amount of the CF Obligations and the EF Obligations (the “Bad Toys Guaranty”).
Borrower hereby acknowledges and agrees that: (i) the Forbearance Fee shall constitute a portion of the CF Obligations owing from Borrower to GECC under the provisions of the Loan Agreement and the other Loan Documents secured by the Collateral.
The Lien Priority shall not be altered or otherwise affected by any such amendment, modification, supplement, extension, repayment, reborrowing, increase, replacement, renewal, restatement or Refinancing of either the ABL Obligations or any CF Obligations, or any portion thereof.
Except as otherwise expressly set forth in Section 2.1(a), Section 2.2(a), Section 2.3, Section 3.5 and Article 6 of this Agreement, the CF Collateral Agent and each CF Secured Party may exercise rights and remedies as an unsecured creditor and as a secured creditor with respect to the Non-Intercreditor Collateral against the Company or any Subsidiary that has guaranteed the CF Obligations in accordance with the terms of the applicable CF Documents and applicable laws.
Each of the CF Collateral Agent and the ABL Collateral Agent hereby assume responsibility for keeping itself informed of the financial condition of the Grantors and all other circumstances bearing upon the risk of nonpayment of the ABL Obligations or the CF Obligations.
Following the time when (i) the CF Obligations have been paid in full, and (ii) CF has no obligation to extend any credit to Borrower under anyone or more of the CF Documents or the Forbearance Agreements, GECC shall effect a partial release with respect to the Consolidation Note Collateral as follows: release of GECC’s security interests in the collateral, and only the collateral, set forth or described in Number 45 on Schedule 1 hereto.
Payments received by GECC from or on account of Borrower shall be applied in the following order: (i) first to satisfy the CF Obligations until (y) all of the CF Obligations have been paid in full, and (z) CF has no obligation to extend any credit to any Borrower under any one or more of the CF Documents or the Forbearance Agreements, and (ii) second, and only after the CF Obligations have been paid in full, to satisfy the EF Obligations.
CF shall continue to service and manage the CF Obligations, EF shall continue to service and manage the EF Obligations, and nothing contained in this Agreement shall be construed to mean otherwise.
The CF Collateral Agent and the ABL Collateral Agent may make such demands or file such claims in respect of the CF Obligations or the ABL Obligations, as applicable, as are necessary to prevent the waiver or bar of such claims under applicable statutes of limitations or other statutes, court orders, or rules of procedure at any time.