GECC Facility definition
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.
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.
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 Company covenants and agrees that during the Registration Period it will not enter into any other agreement or issue any security pursuant to which a sale of Common Stock by Odyssey could result in a default or violation of a covenant of the Company without the prior written consent of Odyssey; provided, however, that this ----------------- restriction shall not apply to any amendment to or refinancing of the GECC Facility or the CIT 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).
From and after the Termination Date, deliver to Lender the same financial statements, compliance certificates and other information as Borrower is required to deliver to the agent and the lenders under the GECC Facility (as in effect on the date hereof), such financial statements to be and information to be delivered within the same time frames as set forth in the GECC Facility and irrespective of whether the GECC Facility remains in effect at such time.
So long as any Obligations are outstanding, GAC agrees to maintain with Bank its retail lockbox account established in connection with the Indebtedness in favor of GECC under the GECC Facility.
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.
For the avoidance of doubt, the covenants set forth in Sections 6 and 7 (other than Sections 6.6, 6.8, 7.10 and 7.11) are hereby incorporated by reference mutatis mutandis such that such covenants shall apply for the benefit of Lender from and after the Termination Date and shall continue to be binding on the Company irrespective of whether the GECC Facility has been terminated, amended, supplemented or otherwise modified after the date hereof.