Chase Facility definition
Examples of Chase Facility in a sentence
If Chase and/or the lenders under the Chase Facility has notified the Company that the Chase Facility will not be available to the Company unless a specified amount of additional equity is invested in the Company (the "Required Equity"), then the Purchaser, together with the other shareholders of the Company, shall have the right (but no obligation) to purchase additional shares of Common Stock in order to fund such Required Equity.
The Issuer shall not enter into the Chase Facility until Purchaser has approved the documentation in connection with the Chase Facility, which approval shall not be unreasonably withheld.
The Company will use the proceeds from the sale of the Shares to repay indebtedness under its credit facility (the "Chase Facility") with ▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇ Bank (formerly known as The Chase Manhattan Bank).
Upon the request of Purchaser at any time from the date hereof until the Closing Date, Purchaser shall participate in the negotiations between Chase Securities and the Issuer regarding the Chase Facility.
Provided that the Closing referred to in Paragraph 4.1 below shall have occurred: (a) promptly following such Closing Chase shall cause to be delivered to the Company the original Chase Revolving Credit Note, Chase Facility A Term Loan Note and Chase Facility B Term Loan Note, each appropriately marked "cancelled", Finova shall cause to be delivered to the Company the original Finova Revolving Credit Note, Finova Facility A Term Loan Note and Finova.
The Issuer hereby represents and warrants that except as set forth on Schedule 5.17 hereto, the Chase Facility shall not give rise to liability or obligation for any brokerage fees, commissions, finder's fees or other similar fees or expenses.
SELLER will cause the Companies to have no ------------ outstanding Indebtedness as of the Closing, other than Indebtedness resulting from the consummation of the transactions described in the Financing Letters, the SER Note, the Purchased Note, the Chase Facility, any indebtedness contemplated by the European Indebtedness Letter Agreement, any Indebtedness approved in writing by BUYER, and Indebtedness that will be satisfied at the Closing by SELLER.
SER and certain of the Non-US Companies have entered into an overdraft facility with Chase Manhattan Bank to cover overdrafts of up to approximately US$15,000,000 (the "Chase Facility").
Any funding needs of the Companies and the Non-US Companies from the Effective Time through the Closing will be satisfied through the Chase Facility.
Notwithstanding Section 5.03 and subject to certain conditions described in this Section 5.17, prior to or simultaneously with the Closing, the Issuer shall use its commercially reasonable efforts to obtain a senior secured credit facility with Chase Securities for no less than $30 million with a borrowing base of $23 million on terms that are acceptable to Purchaser (the "Chase Facility").