Former Lender definition

Former Lender has the meaning set out in Section 11.10.

Former Lender means any Person that was a Lender but that has assigned all of its Loans and Commitments, and no longer holds any Loans and Commitments and, at the time of such assignment, was, or an Affiliate of such Lender was, a counterparty under any agreement with respect to Bank Products or Cash Management Services with any Loan Party, which agreements relating to Bank Products or Cash Management Services have not expired, been paid out or otherwise terminated or renewed.

Former Lender means a Lender under the Third ARCA, Fourth ARCA or Fifth ARCA that is not a Lender as of the Closing Date.

Examples of Former Lender in a sentence

• The Substitute Lender shall assume the rights and obligations of the Former Lender under this Agreement.

• For certainty, any Financial Instrument Obligations under Financial Instruments entered into with a Former Lender or an Affiliate thereof after the Former Lender has ceased to be a Lender shall not be secured by the Security.

• In the event a Former Lender is replaced by a Substitute Lender in accordance with this Section 10.13(a), the Borrower and the Substitute Lender shall pay to the Former Lender (or the Administrative Agent pursuant to Section 10.6) all amounts that would have been required to be paid pursuant to Section 2.25 had such Former Lender been replaced in accordance with such provisions.

• The New Vehicle Floorplan Borrowers shall use the proceeds of the New Vehicle Swing Line Loans to finance Eligible New Vehicles (including to refinance Former Lender Loans).

• The Security shall only secure such Hedge Liabilities entered into with a Former Lender or Former Qualified Affiliate and shall not secure any debts, obligations or liabilities of such Former Lender or Former Qualified Affiliate arising in respect of derivative transactions entered into after such Former Lender ceased to be a Lender or Former Qualified Affiliate ceased to be a Qualified Affiliate.

More Definitions of Former Lender

Former Lender as defined in Section 10.13(a).

Former Lender is defined in subsection 10.7(a).

Former Lender is defined in Section 9.23(a).

Former Lender is defined in the definition of Hedging Obligations.

Former Lender has the meaning assigned to that term in subsection 10.1B(iii).

Former Lender has the meaning specified in Section 10.23(a).

Former Lender shall have the meaning provided in Section 13.04(c).