First Out Lender definition

First Out Lender means any Lender, other than the Last Out Term Lenders in their capacity as such, that is owed a First Out Advance.

First Out Lender has the meaning specified therefor in the Agreement Among Lenders.

First Out Lender means any Lender to which any First Out Term Loan is owing.

Examples of First Out Lender in a sentence

• In the event it becomes necessary for First Out Lender or any Last Out Lender to commence or become a party to any proceeding or action to enforce the provisions of this Agreement, the court or body before which the same shall be tried shall award to the prevailing party all costs and expenses thereof, including reasonable attorneys’ fees, the usual and customary and lawfully recoverable court costs, and all other expenses in connection therewith.

• Subject to the last sentence of the definition of the term “Paid in Full,” this Agreement shall terminate when all Obligations of First Out Lender have been Paid in Full.

• Even though it’s a plain black-and-white composition book, I love the cover because it has a bunch of cool momentos on it.

• The Purchase Notice, if given, shall be irrevocable and each First Out Lender that receives a Purchase Notice shall be deemed to be a “Seller” hereunder.

• Even if Last Out Lenders don’t intend to exercise a Buy Out Right, it is important for their leverage as it makes clear to the Borrower that to the extent the First Out Lender was being counted on to help or hold up a process, they can be taken out of the picture.

More Definitions of First Out Lender

First Out Lender means a Lender with a First Out Commitment or an outstanding First Out Term Loan.

First Out Lender means any Bridge A Lender or Bridge B Lender.

First Out Lender means, at any time, any Lender that holds a First-Out Loan at such time.

First Out Lender means any Lender Party other than the Last Out Lenders in their respective capacities as such.

First Out Lender means each “Lender” (or equivalent term) as defined in the Senior Credit Facility.

First Out Lender means any Lender that has a First Out Pro Rata Share greater than zero; provided that each reference to a First Out Lender shall only be deemed to be made to a Lender in its capacity as having a First Out Commitment, First Out Advance or First Out Pro Rata Share of items pertaining thereto.

First Out Lender means a Lender with an outstanding First Out Term Loan Commitment or an outstanding First Out Term Loan.