Examples of FMARC II in a sentence
The term "Senior Creditors" shall mean with respect to FMARC II individually and/or collectively FSA and Greenwich.
FSA shall retain its contingent lien on the stock of FMARC II to secure obligations presently secured thereby, including, without limitation, FMAC's obligation to reimburse FSA for any amounts FSA is required to pay on account of the guarantees and certain fees arising under the Securitization Related Documents.
Until such obligations are paid in full with default interest, Greenwich shall retain its lien on the Greenwich Collateral as well as its second lien on the stock of FMARC II.
The Pledgor shall promptly deliver to the Collateral Agent, or cause FMARC and FMARC II (collectively, the "FMARC Entities") or any other entity issuing the FMARC Collateral, to deliver directly to the Collateral Agent share certificates or other instruments representing any FMARC Collateral issued to, acquired or received by the Pledgor after the date of this Pledge Agreement with a stock or bond power duly executed by the Pledgor.
The Confirmation Order shall contain a final acknowledgement and determination that the Bank Group had duly perfected and valid liens in all of FMAC's assets, except for the Greenwich Collateral and FMAC's stock in FMARC and FMARC II, which liens are not subject to avoidance, counterclaim or offset.
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FMARC II means First Merchants Auto Receivables Corporation II, a Delaware corporation.
It is anticipated that the FMARC and FMARC II subsidiaries of the Reorganized Company will continue for a period of time to recognize taxable income with respect to the B Pieces in excess of the cash available for distribution to the Reorganized Company.
FIRST MERCHANTS ACCEPTANCE CORPORATION, By: Name: Title: EXHIBIT B Form of Subsequent Purchase Agreement SUBSEQUENT PURCHASE AGREEMENT SUBSEQUENT PURCHASE AGREEMENT (the "Agreement") dated as of [ ], between First Merchants Auto Receivables Corporation II, a Delaware corporation ("FMARC II") and First Merchants Acceptance Corporation, a Delaware corporation ("First Merchants").
As noted above, there is an Intercreditor Agreement with Greenwich related to the FMARC II stock pledge.