Initial Loan Parties definition

Initial Loan Parties means the Company, the Subsidiary Borrower and each Subsidiary Guarantor as of the Restatement Effective Date.

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Initial Loan Parties means the Company and each Subsidiary Guarantor as of the Closing Date.

Initial Loan Parties is defined in Section 5.1(ii)(1) hereof.

Examples of Initial Loan Parties in a sentence

• Each of the Initial Loan Parties has all requisite power and authority to enter into this Agreement and to make the assignments and delegations provided for herein.

• Upon execution and delivery hereof, this Agreement shall constitute the legal, valid and binding obligations of each of the Initial Loan Parties, enforceable against each of the Initial Loan Parties in accordance with its terms.

• On May 15, 2002, Lender and the Initial Loan Parties entered into a certain Loan and Security Agreement (which, as previously amended by certain Joinder Agreements (the "Joinders") is hereinafter referred to as the "Loan Agreement") to reflect certain financing arrangements between the parties thereto.

• The Initial Loan Parties acknowledge that the Existing Loans are currently in default with respect to certain nonmonetary covenants contained in the Existing Loan Documents.

• The provisions of this Section 1 (including subsections 1.1 – 1.4 hereof) and the remainder of this Agreement shall inure to the Bank and also run in favor of and inure to the maximum extent permitted by law to intended (and not incidental) third-party beneficiaries, which the Initial Loan Parties and Individual Guarantors agree shall include, without limitation, the Released Parties.

• The Initial Loan Parties shall cause each Person that becomes a Loan Party after the date hereof to become a party to this Agreement by execution and delivery by such Person of a Joinder Agreement in the form of Annex 1 hereto.

• Confirmatory Grant of Security Interest in United States Patents made by certain Initial Loan Parties in favor of the Administrative Agent.

• Certificates of Insurance listing the Administrative Agent as (x) lender loss payee for the property, casualty and business interruption insurance policies of the Initial Loan Parties, together with long-form lender loss payable endorsements, as appropriate, and (y) additional insured with respect to the liability insurance of the Loan Parties, together with additional insured endorsements.

• The provisions of this Section I and the remainder of this Agreement shall inure to the Bank and also run in favor of and inure to the maximum extent permitted by law to intended (and not incidental) third-party beneficiaries, which the Initial Loan Parties and Individual Guarantors agree shall include, without limitation, the Released Parties.

• Confirmatory Grant of Security Interest in Canadian Intellectual Property made by certain Initial Loan Parties in favor of the Applicable Agent.

More Definitions of Initial Loan Parties

Initial Loan Parties means the Company, the Initial Subsidiary Borrower and each Subsidiary Guarantor as of the Closing Date.

Initial Loan Parties means each of the Borrowers and the other Persons set forth on Schedule 1.1(G).

Initial Loan Parties means the Borrower and the Initial Guarantors.

Initial Loan Parties means the Company, the Subsidiary Borrower and each Subsidiary Guarantor as of the Closing Date. “Initial Mortgaged Properties” means the parcels of real Property of the Company and the Domestic Subsidiary Guarantors set forth on Schedule 1.1.2 to this Agreement. “Intellectual Property Security Agreements” means the intellectual property security agreements as the Company or any Domestic Subsidiary Guarantor may from time to time make in favor of the Administrative Agent for the benefit of the Holders of Secured Obligations, in each case as the same may be amended, restated, supplemented or otherwise modified from time to time. “Intercompany Indebtedness” means, with respect to any Borrower or Subsidiary Guarantor, any and all claims of such Borrower or Subsidiary Guarantor against any other Borrower or Subsidiary Guarantor or any other endorser, obligor or any other guarantor of all or any part of the Obligations, or against any of its properties, including, without limitation, claims arising from liens or security interests upon property with respect to any such claim owing to such Borrower or Subsidiary Guarantor. “Interest Expense” means, with respect to any period, the aggregate of all interest expense reported by the Company and its Subsidiaries in accordance with Agreement Accounting Principles during such period, net of any interest income received by the Company and its Subsidiaries during such period from Investments, but excluding, to the extent constituting interest expense, Receivables Facility Financing Costs for such period. As used in this definition, the term “interest” shall include, without limitation, all interest, fees and costs payable with respect to the obligations under this Agreement (other than fees and costs which may be capitalized as transaction costs in accordance with Agreement Accounting Principles) and the interest portion of Capitalized Lease payments during such period, all as determined in accordance with Agreement Accounting Principles. “Interest Period” means, with respect to any Eurocurrency Rate Advance:

Initial Loan Parties means, collectively, the Borrower, 0985472 B.C. Ltd., Klondex Buyer and Klondex Gold & Silver Mining Company.