Most Favored Lender definition

Most Favored Lender. Status: None of the Company or the Subsidiaries providing guarantees will enter into any modification or amendment to any existing credit facility or other financing document, or enter into any new credit facility or financing document, that contains financial covenants, definitions or default provisions more favorable to the lender or financier thereunder unless the holders of the Notes are given the option of receiving the benefit of such more favorable provisions at the same time and on the same terms. No additional guarantees will be provided to the Banks or any other creditor of the Company, the Issuer or any Subsidiary Guarantor unless similar guarantees are given in favor of the holders of the Notes. For the avoidance of doubt and in addition to the foregoing, to the extent that the Group enters into any modification or amendment to the Syndicated Loan Agreement that contains definitions, covenants or other provisions more favorable to the Banks thereunder or under the Indicative Key Restructuring Terms and Conditions attached as Schedule 2 hereto, the holders of the Notes shall be given the option of receiving the benefit of such more favorable provisions at the same time and on the same terms.
Sample 1
Most Favored Lender. If the Borrower has, or enters into, any agreement with another credit provider with respect to debt of the Borrower (or an amendment, modification or restatement of any such credit agreement) that includes financial covenants more restrictive than those provided to Lender in this agreement, then the financial covenants from such other credit agreement shall be deemed incorporated into this agreement, but only so long as the other agreement remains in effect.
Sample 1

Examples of Most Favored Lender in a sentence

  • Thereafter, upon the request of the Required Lenders, the Borrowers and the Guarantors shall enter into an amendment to this Agreement and, if applicable, the other Credit Documents evidencing the incorporation of such Most Favored Lender Provisions, it being agreed that any failure to make such request or to enter into any such amendment shall in no way qualify or limit the incorporation described in clause (i) of the immediately preceding sentence.

  • Additional Covenant shall have the meaning specified in Section 7.1.11(i) [Most Favored Lender].

  • Thereafter, upon the request of the Required Lenders, the Borrower and the Guarantors shall enter into an amendment to this Agreement and, if applicable, the other Credit Documents evidencing the incorporation of such Most Favored Lender Provisions, it being agreed that any failure to make such request or to enter into any such amendment shall in no way qualify or limit the incorporation described in clause (i) of the immediately preceding sentence.

  • Each Purchaser shall have received a Most Favored Lender Notice with respect to any Additional Covenants as of the date of the Closing.

  • Warranty costs related to operating leases are treated as maintenance costs and expensed as incurred, and thus, no warranty reserve is provided for operating leases.

  • Notwithstanding any of the foregoing to the contrary, it is hereby agreed that if no such Most Favored Lender Notice is provided by the date required herein, such Additional Provision shall be deemed automatically incorporated by reference in accordance with the terms of the previous sentence, effective as of the date when such Additional Provision became effective under such Material Debt Document.

  • Affirmative Covenants 21 Section 9.1. Compliance with Law 21 Section 9.2. Insurance 21 Section 9.3. Maintenance of Properties 21 Section 9.4. Payment of Taxes 22 Section 9.5. Corporate Existence, Etc 22 Section 9.6 Books and Records 22 Section 9.7. Asset Coverage 22 Section 9.8. Current Rating on the Notes 22 Section 9.9. Most Favored Lender Status 22 Section 9.10.

  • Incorporated Covenant shall have the meaning specified in Section 7.1.11(ii) [Most Favored Lender].

  • Most Favored Lender - This term automatically drafts any covenant that may be more restrictive than what was included in the referenced loan documents to ensure that senior lenders maintain equal footing over the life of the loan.

  • Notwithstanding anything contained in this Section 7.1.11 [Most Favored Lender] to the contrary, in no event shall any amendment to the covenant levels set forth in any covenant contained in any of the Note Purchase Agreements as of the Closing Date be deemed to constitute an Additional Covenant for purposes of this Section 7.1.11 [Most Favored Lender].

Related to Most Favored Lender

  • Most Favored Lender Notice means, in respect of any More Favorable Covenant, a written notice to each of the holders of the Notes delivered promptly, and in any event within twenty Business Days after the inclusion of such More Favorable Covenant in any Material Credit Facility (including by way of amendment or other modification of any existing provision thereof) from a Responsible Officer referring to the provisions of this Section 9.8 and setting forth a reasonably detailed description of such More Favorable Covenant (including any defined terms used therein) and related explanatory calculations, as applicable.

  • Impacted Lender means a Defaulting Lender or a Lender as to which (a) the L/C Issuer or the Administrative Agent has a good faith belief that the Lender has defaulted in fulfilling its obligations under one or more other syndicated credit facilities or (b) an entity that Controls the Lender has been deemed insolvent or become subject to a bankruptcy or other similar proceeding.

  • Approved Lender is defined in Section 12.1.

  • VA Approved Lender means a lender which is approved by the VA to act as a lender in connection with the origination of VA Loans.

  • Extending Lender shall have the meaning assigned to such term in Section 2.21(e).

  • Refinancing Lender has the meaning assigned to such term in Section 2.23(c).

  • Designated Lender shall have the meaning set forth in Section 16.2(b) hereof.

  • Qualified Lender means a lender approved by the federal department of housing and urban development to enter into a loan insured by the federal government under 12 USC 1715z−20.

  • Specified Loan Party means any Loan Party that is not an “eligible contract participant” under the Commodity Exchange Act (determined prior to giving effect to Section 10.19).

  • Reference Lender means, with respect to each Investor Group, the related Funding Agent or if such Funding Agent does not have a prime rate, an Affiliate thereof designated by such Funding Agent.

  • Refinancing Revolving Lender has the meaning assigned to such term in Section 2.26(a).

  • Terminated Lender as defined in Section 2.19.

  • Declining Lender has the meaning specified in Section 2.05(c).

  • Additional Refinancing Lender has the meaning set forth in Section 2.15(a).

  • Affected Lender has the meaning specified therefor in Section 2.13(b) of the Agreement.

  • Administrative Borrower has the meaning set forth in Section 17.9.

  • Lender has the meaning specified in the introductory paragraph hereto and, as the context requires, includes the Swing Line Lender.

  • Refinancing Lenders has the meaning specified in Section 2.15(c).

  • Extending Lenders has the meaning specified in Section 2.08.

  • Funding Lender means Citibank N.A., a national banking association, and any successor under this Funding Loan Agreement and the Borrower Loan Documents.

  • Consenting Lender has the meaning specified in Section 2.19(b).

  • Originating Lender has the meaning specified therefor in Section 13.1(e) of the Agreement.

  • Replaced Lender shall have the meaning provided in Section 2.13.

  • Reference Lenders means the Agent unless the Agent resigns said responsibility, at which time and thereafter such term means one or two Lenders selected by the Agent in its discretion from time to time as a reference lender for purposes of determining the Adjusted Libor Rate.

  • Committed Lender means, as to any Lender Group, each of the financial institutions listed on Schedule I as a “Committed Lender” for such Lender Group, together with its respective successors and permitted assigns.

  • Extending Revolving Lender shall have the meaning given to such term in Section 2.22(a)(iii).