Examples of Existing Loans in a sentence
The Parties acknowledge that the description of the Collateral in the security documents for the New Loans may differ from the description in the security documents for the Existing Loans.
The Parties acknowledge that, notwithstanding the exchange and extinguishment of the Existing Loans, Subsidiary Guarantor shall guarantee the obligations of Borrower under the New Loans, subject to the terms of the Credit Agreement, the Loan Documents, and any separate guarantee agreement.
Within five (5) business days of the Effective Date, each Existing Lender shall file UCC-3 termination statements with respect to any UCC financing statements filed in connection with the Existing Loans; provided, however, that in the case of the Existing Loans held by the Sxxxxx Parties, Borrower shall cause NACS (in its capacity as collateral agent thereunder) to file such UCC-3 termination statements in respect of such Existing Loans.
To the extent that any liens or security interests related to the Existing Loans remain in effect after the Effective Date, such liens and security interests are hereby expressly subordinated to the liens and security interests granted in connection with the New Loans.
The New Term Lenders in their respective capacities relative to the Existing Loans and the New Credit Agreement, the New Borrower, and the Legacy Borrower collectively constitute the only consenting parties required to enter into, and give effect to the terms of, this Agreement.