Initial Borrower definition
Examples of Initial Borrower in a sentence
Reference is made to that certain Loan and Security Agreement dated as of December 6, 2024 (as amended, restated, supplemented or otherwise modified from time to time, the “Loan Agreement”), by and among the Initial Borrower, the guarantors party thereto (the “Guarantors”), the financial institutions from time to time party thereto as lenders (the “Lenders”) and the Agent.
As security for the payment of the Obligations to Agent and Lenders under the Loan Agreement and satisfaction by the Initial Borrower of all covenants and undertakings contained in the Loan Agreement and the Credit Documents, the Initial Borrower reconfirms, ratifies and reaffirms the prior security interest and lien on, upon and to, its Collateral, whether now owned or hereafter acquired, created or arising and wherever located.
Except as otherwise specified herein, the terms and provisions hereof shall in no manner impair, limit, restrict or otherwise affect the obligations of the Initial Borrower, any Guarantor or any third party to Agent and Lenders as evidenced by the Credit Documents.
The Initial Borrower hereby confirms and agrees that all security interests and ▇▇▇▇▇ granted to Agent for the ratable benefit of Lenders continue in full force and effect and shall continue to secure the Obligations.
Further, the Initial Borrower and Guarantors warrant and represent that they are not now aware of any claims or potential claims against Agent or Lenders pursuant to the Loan Agreement.