No Interest Letter definition

No Interest Letter means each letter agreement executed by the Supplier of Equipment, as set forth on the applicable Loan Schedule, in favor of the Lender and Collateral Agent , pursuant to which the Supplier agrees to the collateral assignment of the rights and remedies of the applicable purchaser of such Equipment to the Lender, disclaims any interest, lien, or other rights in the Equipment and related Collateral and recognizes the Lender as an intended third party beneficiary of the related Supplier Contract for such Equipment, in each case in form and substance satisfactory to the Lender.
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No Interest Letter has the meaning given in Section 8.4;
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No Interest Letter means a letter executed by the Supplier of Equipment, as set forth on the applicable Loan Schedule, in favor of the Lender and the Collateral Agent, pursuant to which the Supplier agrees to the collateral assignment of the rights and remedies of the applicable purchaser of such Equipment to the Lender, disclaims any interest, lien, or other rights in the Equipment and related Collateral and recognizes Lender as an intended third party beneficiary of the related Supplier Contract for such Equipment, in each case in form and substance reasonably satisfactory to Lender.
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Examples of No Interest Letter in a sentence

  • At the request of the Company, the Royalty Holder agrees to enter into, with each Financing Party that has provided a No Interest Letter, a subordination agreement in a form acceptable to such Financing Party and the Royalty Holder (acting reasonably), which shall provide for the postponement, standstill and subordination of any Encumbrance granted to the Royalty Holder pursuant to Section 2.2(f) to any Encumbrances in favour of such Financing Party.

  • Lender has received a satisfactory No Interest Letter or confirmation of discharge of their security from Canadian Western Bank.

  • Each Borrower party hereto acknowledges and agrees that (i) it has been given an opportunity to review the relevant provisions of the Supplier Contract, and that such Borrower has acknowledged and agreed to the terms of the Supplier Contract, and (ii) it has provided Lender with a copy of the Supplier Contract, Affiliate Sale Agreement, any required No Interest Letter relating thereto, and any related bills of sale for the Equipment, in each case, as required pursuant to the Master Agreement.

  • The Borrowers acknowledge and agree that (i) they have been given an opportunity to review the relevant provisions of the Supplier Contract, and that the Borrowers have acknowledged and agreed to the terms of the Supplier Contract, and (ii) they have provided the Lender with a copy of the Supplier Contract, Affiliate Sale Agreement(if applicable), any required No Interest Letter relating thereto, and any related bills of sale for the Equipment, in each case, as required pursuant to the Master Agreement.


More Definitions of No Interest Letter

No Interest Letter means a letter, in the form of Exhibit A attached hereto.
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Related to No Interest Letter

  • Payment Account means a segregated non-interest-bearing corporate trust account maintained by the Property Trustee with the Bank in its trust department for the benefit of the Securityholders in which all amounts paid in respect of the Debentures shall be held and from which the Property Trustee shall make payments to the Securityholders in accordance with Sections 401 and 402.

  • Accrued Interest means, with respect to Single Family Shared-Loss Loans, the amount of earned and unpaid interest at the note rate specified in the applicable loan documents, limited to 90 days.