Examples of Master Debt Agreements in a sentence
Each Grantor agrees that it shall not sell, assign, or otherwise dispose of any Collateral, except as otherwise permitted under the Master Debt Agreements.
Without limiting the generality of the foregoing clause, when any Senior Lender or Subordinated Lender assigns or otherwise transfers any interest held by it under the Master Debt Agreements or other Master Debt Documents to any other Person pursuant to the terms of the Master Debt Agreements or such other Master Debt Documents, that other Person shall thereupon become vested with all the benefits held by such Senior Lender or such Subordinated Lender under this Security Agreement.
Other than as permitted by Section 6.11 of the respective Master Debt Agreements, no Pledgor shall amend, supplement, modify or restate its articles or certificate of incorporation, bylaws, limited liability company agreements, or other equivalent organizational documents, nor amend its name or change its jurisdiction of incorporation, organization or formation.
Pursuant to Section 6.15 of each Master Debt Agreement, certain Subsidiaries of the Borrower that were not in existence on the date of the such Master Debt Agreements are required to enter into this Pledge Agreement as Pledgors.
The Collateral Trustee shall promptly, at the Grantors’ expense, execute and deliver all further instruments and documents, and take all further action that a Grantor may reasonably request in order to release its security interest in any Collateral which is disposed of in accordance with the terms of the Master Debt Agreements.
Each Pledgor agrees that it will not (a) except as otherwise permitted by the Master Debt Agreements, sell or otherwise dispose of, or grant any option with respect to, any of the Pledged Collateral or (b) create or permit to exist any Lien upon or with respect to any of the Pledged Collateral, except for Permitted Liens.
The proceeds of any sale, or other realization (other than that received from a sale or other realization permitted by the Master Debt Agreements) upon all or any part of the Pledged Collateral pledged by the Pledgors shall be applied by the Collateral Trustee as set forth in Section 4.4 of the Collateral Trust Agreement.
It is the intent of Mortgagor and Mortgagee in the execution and performance of this Mortgage, the Master Debt Agreements and the other Master Debt Documents to contract in strict compliance with applicable usury laws governing the Obligations including such applicable usury laws of the State of Texas and the United States of America as are from time-to-time in effect.
Nothing herein is intended to impair the obligations of the Debtors to execute documents and agreements in accordance with the Master Debt Agreements.
The rights and remedies herein provided are cumulative, may be exercised singly or concurrently and are not exclusive of any other rights or remedies provided by law, by the Master Debt Agreements or by the Collateral Trust Agreement.