Examples of GECC Facility in a sentence
If (i) Liberty Livewire, Inc., a Delaware corporation ("Liberty Livewire"), has failed to execute and deliver the guaranty contemplated by the letter agreement, dated June 30, 2000, among the Company and the other parties to the GECC Facility and (ii) but for Liberty Livewire's failure to execute such guaranty, the condition set forth in the previous sentence would be satisfied, Parent and Merger Sub may not assert that the condition set forth in the previous sentence has not been satisfied.
Buyer acknowledges and agrees that FVP has no obligation (other than to use commercially reasonable efforts as provided above) to obtain the GECC Facility Consent and that obtaining the GECC Facility Consent is not a condition precedent to Buyer's obligations hereunder.
An (i) event of default (however described) has occurred under any of the GECC Credit Facility or the Indenture provided that such event of default has not been remedied or waived in accordance with the relevant document or (ii) any of the GECC Facility or the Indenture terminates or is terminated for any reason.
Upon investigation, Boken learned that the projected pay down of the GECC Facility did not occur as anticipated due to the miscalculation of the borrowing base on that facility.
Except for the Indebtedness in favor of GECC under the GECC Facility, any Indebtedness that is unsecured, or any Indebtedness incurred in the ordinary course of business for small leases and loans in individual amounts not exceeding $50,000 and in the aggregate not exceeding $500,000, GAC agrees not to incur, create, assume or permit to exist any additional Indebtedness for borrowed money (other than the Obligations).
Payment of Notes Called for Redemption...................................53 SECTION 3.08.
From and after the Termination Date, comply with each and every covenant set forth in Sections 6 and 7 of the GECC Facility (as in effect on the date hereof).
The Reporting Company explained that it was fully drawn on the Prepetition Loan Facility, and would fund ongoing operations by accessing remaining availability under the GECC Facility and certain foreign receivables factoring and “fast pay” financing programs.
The Company represents that the only agreements to which the Company is a party pursuant to which the sale by Odyssey could result in a default or violate a covenant thereof are the Loan Agreement dated October 30, 1992, as amended, with General Electric Capital Corporation (the "GECC Facility") and the Loan and Security Agreement dated December 27, 1991, as amended with The CIT Group/Equipment Financing, Inc.
This consumption occurred, in part, because the GECC Facility was not paid down as anticipated.