Examples of Loan Party in a sentence
Comply in all respects with the terms of, and maintain in full force and effect, and all Loan Party contracts and agreements which are material to its operations of its Properties as intended and satisfy all of its Contractual Obligations, except for such instances in which the failure to comply therewith could not reasonably be expected to have a Material Adverse Effect.
The commencement of, or any material adverse development in, any litigation or proceeding affecting a Loan Party, including pursuant to any applicable Environmental Laws, where the amount sued for or the value of the Property involved is in excess of $500,000, or which, if adversely decided, could reasonably be expected to have a Material Adverse Effect.
If a Loan Party forms any Subsidiary or acquires any Equity Interests in any Subsidiary, the Loan Parties shall cause such Subsidiary to join in this Agreement as a joint and several co-Borrower within ten (10) Business Days follow such formation or acquisition, such joinder to be in the form attached hereto as Exhibit F.
The New Borrower hereby represents and warrants that each of the representations and warranties set forth in the Loan Agreement as to each applicable Loan Party is true and correct as to it on and as the date hereof (after giving effect to this Joinder Agreement) as if made on and as of such date.
Any material change in accounting policies or financial reporting practices of a Loan Party, including a change in its fiscal year.