Examples of New Term Credit Agreement in a sentence
Xxxxx Phone: 0.000.000.0000 Fax: 0.000.000.0000 If to the New Term Credit Agreement Collateral Agent: U.S. Bank National Association Xxxxxxx X.
Very truly yours, [NAME OF GRANTOR] By: Name: Title: Accepted and Agreed: U.S. BANK NATIONAL ASSOCIATION as Grantee By: Name: Title: This Patent Security Agreement, dated as of [ ], by and between [Name of Grantor], a [ ] formed under the laws of [ ] (the “Grantor”), in favor of U.S. BANK NATIONAL ASSOCIATION, in its capacity as Collateral Agent pursuant to the New Term Credit Agreement (as defined below) dated as of the date hereof (in such capacity, the “Grantee”).
Notwithstanding anything herein to the contrary, payment obligations under the promissory notes issued pursuant to the New Term Credit Agreement, and all obligations under the New Term Credit Agreement and related documents, including the Collateral Agency and Intercreditor Agreement and the Amended and Restated Security Agreement, shall be subject to repayment and performance by the obligors thereunder, on the terms set forth in the New Term Credit Agreement and related documents.
This Agreement shall become effective when it shall have been executed by the Grantors and the Collateral Agent and thereafter shall be binding upon and inure to the benefit of each Grantor and the Collateral Agent and their respective permitted successors and assigns, except that no Grantor shall have the right to assign its rights hereunder or any interest herein except as otherwise permitted hereby or by the New Term Credit Agreement and any other Term Debt Document.
The Restructuring would significantly reduce the principal amount of Chart’s outstanding indebtedness by converting a substantial portion of Chart’s indebtedness under the Existing Credit Facilities into New Common Stock, and restructuring the remaining indebtedness thereunder into indebtedness under the New Term Credit Agreement.
The Companies believe that they will be able to comply with all of the covenants to be included in the New Term Credit Agreement.
Unless otherwise defined in the New Term Credit Agreement, all terms defined in the Uniform Commercial Code and used but not defined in this Agreement have the meanings specified in the Uniform Commercial Code; the term “instrument” shall have the meaning specified in Article 9 of the Uniform Commercial Code.
Notwithstanding anything herein to the contrary, payment obligations under the promissory notes issued pursuant to the New Term Credit Agreement, and all obligations under the New Term Credit Agreement and related documents, including the New Intercreditor and Subordination Agreement, the New Security Agreement and the New Collateral Agency Agreement, will be subject to repayment and performance by the obligors thereunder, on the terms set forth in the New Term Credit Agreement and related documents.
The term loan will be amortized on the following schedule: The New Term Credit Agreement will contain affirmative and negative covenants substantially similar to those in the Existing Credit Agreement.
The Senior Lenders will be deemed to have funded a $120 million term loan governed by the New Term Credit Agreement to the Companies on the Consummation Date.