CIT Loan Documents definition
Examples of CIT Loan Documents in a sentence
This Agreement is, and each of the CIT Loan Documents, constitutes a legal, valid and binding obligation of JD Design, enforceable against JD Design in accordance with their respective terms.
The Purchasers shall pay the Estimated Purchase Price on the Closing Date as set forth on the Estimated Closing statement, which shall include a payment to or for at least all of the following prior to Sellers receiving any funds: (a) first, to the Escrow Agent, the Indemnification Escrow Amount plus the Additional Escrow Amounts and (b) second, as required to pay off all obligations under the CIT Loan Documents.
Nothing contained in this Agreement, any instrument, document or agreement delivered in connection therewith or in the CIT Loan Documents shall be deemed or construed to create a fiduciary relationship between the parties.
The Borrowers represent and warrant that the obligations of Borrowers under the CIT Loan Documents and the Viersen Loan Documents (collectively, the "Prior Obligation Documents") have been paid in full or will be paid ii) full at the closing hereunder by Borrowers and that the Prior Obligation Documents upon payment in full will be terminated and of no further force or effect.
The security interest granted in this Section 4 shall include, without limitation: (i) drilling rigs, inventory and other equipment and assets and all proceeds thereof, in which CIT previously held a security interest under the CIT Loan Documents, (ii) any assets (other than real property, if any) which previously secured that certain promissory note in the original principal amount of Eight Million Dollars ($8,000,000.00) dated August 14, 1996 made by UTI payable to the order of the Sam ▇.
Any financing statements required to be filed in order to create, in favor of HILCO, a first perfected lien and security interest in and to the Collateral, subject, with respect to Collateral other than the Mortgaged Property, only to the security interests granted to CIT under the CIT Loan Documents, and subject to the Permitted Encumbrances, shall have been properly filed in each office in each jurisdiction required in order to create in favor of HILCO a perfected lien on the Collateral.