MULTIPLE BORROWERS definition

MULTIPLE BORROWERS. THE "BORROWER" AS DEFINED IN SECTION 1.1 AND IDENTIFIED IN SECTION 10.5(C) CONSISTS OF TWO "BORROWERS". A REQUEST FOR A REVOLVING LOAN SHALL BE MADE BY A PARTICULAR BORROWER, WITH A11 RELEVANT DETERMINATIONS WITH RESPECT TO SUCH REQUEST TO BE BASED ON SUCH BORROWER'S INDIVIDUAL CRITERIA, SUCH AS THE AMOUNT OF ITS ELIGIBLE ACCOUNTS, ELIGIBLE INVENTORY, AND NET AVALLABILTY. NOTWITHSTANDING THE FOREGOING, THE MAXIMUM AGGREGATE AMOUNT OUTSTANDING FOR ALL BORROWERS SHALL AT NO TIME EXCEED $2,000,000. EXCEPT AS PROVIDED IN THIS SECTION 10.7 AND AS OTHERWISE SPECIFICALLY PROVIDED, "BORROWER" SHALL BE DEFINED AS SET FORTH IN SECTION 1.1
Sample 1
MULTIPLE BORROWERS. The "Borrower" as defined in Section 1.1 and identified in Section 10.5(c) consists of five "Borrowers". A request for a Revolving Loan shall be made by a particular Borrower, with all relevant determinations with respect to such request to be based on such Borrower's individual criteria, such as the amount of its Eligible Accounts, Eligible Inventory and Net Availability. Notwithstanding the foregoing, the maximum aggregate amount outstanding for all Borrowers shall at no time exceed $3,000,000. Except as provided in this Section 10.7 and as otherwise specifically provided, "Borrower" shall be defined as set forth in Section 1.1 hereof.
Sample 1

Examples of MULTIPLE BORROWERS in a sentence

  • There shall not exist at the time of any Advance a condition which would constitute an Event of Default under this Agreement or under any Related Document, MULTIPLE BORROWERS.

  • Excluding the name of the Corporation, the following is a complete list of all assumed business names under which the Corporation does business: Assumed Business Name Filing Location Date --------------------- --------------- ---- MULTIPLE BORROWERS.

  • Excluding the name of the Company, the following is a complete list of all assumed business names under which the Company does business: Assumed Business Name Filing Location Date --------------------- --------------- ---- ON FILE WITH LENDER, IF APPLICABLE 08-22-2001 MULTIPLE BORROWERS.

Related to MULTIPLE BORROWERS

  • Applicable Borrower means, with respect to any Loan or other amount owing hereunder or any matter pertaining to such Loan or other amount, whichever of the Borrowers is the primary obligor on such Loan or other amount.

  • U.S. Borrowers shall have the meaning provided in the first paragraph of this Agreement.

  • Canadian Borrowers has the meaning specified in the preamble to this Agreement.

  • Co-Borrowers means Wholly Owned Restricted Subsidiaries organized in any Applicable Jurisdiction from time to time designated by the Borrower to the Administrative Agent as “borrowers” with respect to Borrowings in accordance with Section 11.01, and “Co-Borrower” means any one of them.

  • U.S. Borrower means any Borrower that is a U.S. Person.

  • The Borrower has advised the Banks that the Borrower has entered into an Agreement and Plan of Merger and Reorganization, dated as of February 10, 2000 (the "Merger Agreement"), among the Borrower, Opticare Health Systems, Inc. (the "Parent"), and OC Acquisition Corp., a wholly-owned subsidiary of the Parent ("Merger Sub"), pursuant to which the parties intend to merge Merger Sub with and into the Borrower subject to the terms and conditions thereof which include, among other things, restructuring the Obligations owing to the Banks on terms and conditions mutually agreed upon by the Borrower and the Banks. While the Borrower and the Banks have initiated discussions and due diligence concerning the Merger and any proposed restructuring of the Obligations, the Borrower acknowledges that the Banks have not consented to the Merger nor have the Banks agreed to any terms and conditions relating to any restructuring of the Obligations. In the meantime, however, the Borrower intends to continue to sell the remaining physician practice management groups operated by the Borrower and its Subsidiaries (collectively being referred to herein as the "PPM Businesses") and use a portion of the proceeds from the sale of the PPM Businesses to meet its reasonable and necessary operating expenses. To afford the Borrower an opportunity to proceed with the transactions described above, the Borrower has requested that (i) the Banks extend the temporary waiver period provided for in Sections 2.1 and 2.2 of that certain Seventh Amendment and Waiver to Credit Agreement dated as of December 10, 1999, among the Borrower, the Banks, and the Agent (the "Seventh Amendment") (as further amended, in part, by a December 30, 1999, letter agreement, a February 29, 2000, letter agreement, a March 24, 2000, letter agreement, and an April 14, 2000, letter agreement, and a May 5, 2000, letter agreement, in each case between the Borrower, the Banks and the Agent) and, in addition, that the Banks temporarily waive any non-compliance by the Borrower as of December 31, 1999, and as of March 31, 2000, with Sections 8.8 (Total Funded Debt/Adjusted EBITDA Ratio), 8.10 (Interest Coverage Ratio), and 8.11 (Debt Service Coverage Ratio) of the Credit Agreement and the Borrower's non-compliance with Section 8.5(b) of the Credit Agreement with respect to the timely delivery of the Borrower's March 31, 2000, financial statements, in each case to the earlier of June 2, 2000, or the termination of the Merger Agreement pursuant to its terms (the earlier of such dates being referred to herein as the "Waiver Termination Date"), (ii) Bank of Montreal extend the Bridge Loan Period from May 19, 2000, to the Waiver Termination Date, and (iii) postpone the due date for the payment of principal, interest and unused commitment fees otherwise due on or before May 19, 2000, to the Waiver Termination Date. By signing below, the Banks (including Bank of Montreal with respect to the Bridge Loan Commitment) hereby agree to extend the waiver period provided in Sections 2.1 and 2.2 of the Seventh Amendment from May 19, 2000, to the Waiver Termination Date, temporarily waive any non-compliance by the Borrower as of December 31, 1999, and March 31, 2000, with Sections 8.8 (Total Funded Debt/Adjusted EBITDA Ratio), 8.10 (Interest Coverage Ratio), and 8.11 (Debt Service Coverage Ratio) of the Credit Agreement and the Borrower's non-compliance with Section 8.5(b) of the Credit Agreement with respect to the timely delivery of the Borrower's March 31, 2000, financial statements through the period ending on the Waiver Termination Date, agree to extend the Bridge Loan Period to the Waiver Termination Date, and agree to postpone the due date for the payment of principal, interest, and unused commitment fees otherwise due on or before May 19, 2000, to the Waiver Termination Date, provided that:

  • Borrowers each has the meaning specified in the introductory paragraph hereto.

  • Canadian Borrower as defined in the preamble hereto.

  • UK Borrowers shall have the meaning assigned to such term in the preamble hereto.

  • Borrower Group has the meaning provided in Section 10(c) hereof.

  • Subsidiary Borrowers as defined in the preamble hereto.

  • Eligible Borrower means owners or others having an interest in property situated within the downtown area of a participating city, community development corporations associated with a participating city, Iowa main street program organizations associated with a participating city, community-initiated development groups associated with a participating city, or other organization associated with a participating city for purposes of implementing the Iowa main street program.

  • Domestic Borrower means any Borrower organized under the laws of the United States of America or any state of the United States of America.

  • Canadian Borrowing means a Borrowing of Canadian Loans.

  • Revolving Credit Borrowing Request means a request made pursuant to Section 2.4 in the form of Exhibit B-4.

  • Borrower as defined in the preamble hereto.

  • Foreign Borrowers means the Canadian Borrower, the Dutch Borrower, and the U.K. Borrowers.

  • Parent Borrower as defined in the preamble hereto.

  • Canadian Borrowing Base means, at any time, an amount in Dollars equal to:

  • Borrower Representative has the meaning assigned to such term in Section 11.01.

  • Co-Borrower shall have the meaning assigned to such term in the introductory paragraph of this Agreement.

  • Applicant Borrower has the meaning specified in Section 2.14.

  • Swingline Borrowing Request means a request by a Borrower substantially in the form of Exhibit C-2.

  • Committed Lenders means, for any Lender Group, the Persons executing this Agreement in the capacity of a “Committed Lender” for such Lender Group (or an assignment hereof) in accordance with the terms of this Agreement.

  • Subsidiary Borrower means, individually and collectively, as the context requires, each Subsidiary that is or becomes a “Borrower” in accordance with Section 2.22; in each case, unless and until it becomes a “Terminated Subsidiary Borrower”.

  • Lead Borrower has the meaning assigned to such term in the preamble of this Agreement.