Existing Secured Lender definition
Examples of Existing Secured Lender in a sentence
After the Administrative Agent’s receipt of such funds and upon fulfillment of the applicable conditions set forth in Section 3.01 of the Common Terms Agreement, the Administrative Agent shall make such funds available to the Intercreditor Agent for further application to the repayment of the Existing Secured Lender Debt.
The proceeds of the Borrowing shall be applied, and the Borrower agrees that it shall use such proceeds solely, to refinance the Borrower’s Existing Secured Lender Debt.
The proceeds of the Borrowing to be made on the Closing Date shall be applied, and the Borrower agrees that it shall use such proceeds solely, to refinance the Borrower’s Existing Secured Lender Debt.
Because these obligations are included in the Existing Secured Lender Claims, they are subject to the treatment set forth in Sections 2.1.2, 2.1.3 and 2.1.4 and shall be converted into Loans on Plan Effectiveness.
Borrower represents and warrants that it has not executed or authorized the filing of any financing statement covering any of the Collateral except in favor of Lender and Existing Secured Lender, and that no financing statement covering any of the Collateral is on file in any public office in any jurisdiction except in favor of Existing Secured lender.
Use the proceeds of (i) the Term B Borrowing and the Term C Borrowing on the Closing Date to refinance the Borrower’s Existing Secured Lender Debt and (ii) any Term B Borrowing made pursuant to Section 2.14 of the Term B Credit Agreement subsequent to the Closing Date solely for working capital purposes or to refinance amounts outstanding under the Term C Credit Agreement.
Upon Plan Effectiveness, a portion of each Tranche A Term Lender's Existing Secured Lender Claims shall be automatically converted to a term loan hereunder payable by the Company to such Lender (each such loan, a "Tranche A Term Loan") in an amount equal to the amount of Tranche A Term Loan set forth opposite such Lender's name on Schedule 2.1.
Upon Plan Effectiveness, a portion of each Tranche B Term Lender's Existing Secured Lender Claims shall be automatically converted to a term loan hereunder payable by the Company to such Lender (each such loan, a "Tranche B Term Loan") in an amount equal to the amount of Tranche B Term Loan set forth opposite such Lender's name on Schedule 2.1.
Upon Plan Effectiveness, a portion of each Special Lender's Existing Secured Lender Claims shall be automatically converted to a term loan hereunder payable by the Company to such Lender (each such loan, a "Special Loan") in an amount equal to the amount of Special Loan set forth opposite such Lender's name on Schedule 2.1.
Except for Collateral in the possession of the Secured Party or in possession of a third party per agreement of Grantor and any Existing Secured Lender or Secured Party, Grantor has and will maintain full possession of the Collateral and will defend it against all adverse claims.