Old Borrower definition

Old Borrower means Gulfport Energy Corporation (as in existence prior to the Bankruptcy Exit Date). “Ongoing Hedges” has the meaning assigned to such term in Section 9.16(a)(i).
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Old Borrower. New Borrower and Old Borrower being herein together sometimes called "BORROWER"), on the following terms and conditions:
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Old Borrower has merged with and into the Borrower and the Borrower is the surviving corporation. The Borrower assumed all of the obligations of Old Borrower under the Credit Agreement pursuant to that certain Assumption Agreement and Consent, dated as of July 25, 2007, between the Lender and the Borrower. The Borrower has informed the Lender that the Borrower intends to enter into a corporate restructuring transaction in connection with a planned initial public offering. As part of the restructuring, all of the current Owners of the Borrower would exchange their shares of stock of the Borrower for shares of stock of Corsair Components, Inc., a Delaware corporation (“Parent”), whereupon the Borrower would become a wholly-owned subsidiary of Parent (the “Subject Transaction”). The Subject Transaction would constitute a Change of Control and therefore an Event of Default under Section 7.1(d) of the Credit Agreement. The Borrower has requested that the Lender consent to the Subject Transaction. The Lender has agreed with such request, subject to the terms and conditions set forth herein.
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Examples of Old Borrower in a sentence

  • The Borrower assumed all of the obligations of Old Borrower under the Credit Agreement pursuant to that certain Assumption Agreement and Consent, dated as of July 25, 2007, between the Lender and the Borrower.

  • Old Borrower has merged with and into the Borrower and the Borrower is the surviving corporation.

  • Pursuant to the Loan and Security Agreement, Foothill established a revolving line of credit for the benefit of Old Borrower.

  • Pursuant to the Merger Agreement (as defined in the Eighth Amendment) Old Borrower merged into New Borrower, with New Borrower continuing as the Surviving Corporation.

  • Old Borrower has entered into an Agreement and Plan of Merger dated as of February 18, 2000, as amended by the First Amendment to the Agreement and Plan of Merger dated as of April 4, 2000 and the Second Amendment to the Agreement and Plan of Merger dated as of June 28, 2000 (as so amended, the "Merger Agreement"), by and among XxxXxxxxxx.Xxx, a Delaware corporation ("Tek"), New Borrower and Old Borrower.

  • Pursuant to the Merger Agreement (as defined in the Sixth Amendment) Old Borrower merged into New Borrower, with New Borrower continuing as the Surviving Corporation.

  • This Amendment Agreement shall become effective as of the date first above written, subject to the provisions of Section 5.2 hereof; provided, that all of the conditions precedent set forth in Section 5.1 of this Amendment Agreement are satisfied and the Agent has received counterparts of this Amendment Agreement duly executed by the Old Borrower, the Borrower and each Lender.

  • This Amendment shall be binding upon Borrower, Old Borrower, Administrative Agent and Lenders and their respective successors and assigns.

  • Lender and Old Borrower entered into that Loan Agreement dated June 17, 1991, as amended by letter amendment dated August 22, 1991, as further amended by First Renewal, Extension and Modification Agreement (the "FIRST MODIFICATION") dated June 17, 1992 among Lender, Old Borrower, and Maxxam Inc.

  • Deliveries are made at the respective valid prices that apply at the time of the delivery date.


More Definitions of Old Borrower

Old Borrower means, prior to the Merger, Data Systems Network Corporation, a Michigan corporation.
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Old Borrower means Continental Subsidiary Corporation, a Delaware corporation (formerly, Underwriters Re Corporation). 4.2 Article II of the Credit Agreement is hereby amended by deleting the references to "Acquisition Corp." in Section 2.7(a)(ii). 4.3 Article V of the Credit Agreement is hereby amended by (a) deleting Section 5.7 in its entirety and replacing it with the following:
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Old Borrower means Gulfport Energy Corporation (as in existence prior to the Bankruptcy Exit Date).
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Related to Old Borrower

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

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

  • Designated Borrower has the meaning specified in the introductory paragraph hereto.

  • Qualified Borrower means any borrower that is a sponsoring entity that has a controlling interest in the real property that is financed by a qualified loan. A controlling interest includes, but is not limited to, a controlling interest in the general partner of a limited partnership that owns the real property.

  • Canadian Borrower as defined in the preamble hereto.

  • means Borrower s forecasted consolidated and consolidating:

  • Parent Borrower as defined in the preamble hereto.

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

  • Borrower as defined in the preamble hereto.

  • 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:

  • UK Borrower means any Borrower (i) that is organized or formed under the laws of the United Kingdom or (ii) payments from which under this Agreement or any other Loan Document are subject to withholding Taxes imposed by the laws of the United Kingdom.

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

  • Original Borrower shall have the meaning set forth in the recitals hereto.

  • 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”.

  • Swiss Borrower means a Borrower incorporated in Switzerland and/or having its registered office in Switzerland and/or qualifying as a Swiss resident pursuant to Art. 9 of the Swiss Federal Withholding Tax Act.

  • 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.

  • Canadian Credit Party means the Canadian Borrower and each Canadian Subsidiary Guarantor.

  • Account Party has the meaning specified therefor in Section 2.11(h) of this Agreement.

  • Domestic Credit Party means any Credit Party that is organized under the laws of any State of the United States or the District of Columbia.

  • Subsidiary Borrowers as defined in the preamble hereto.

  • Dutch Borrower means any Borrower that is organized under the Laws of The Netherlands.

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

  • Lender Parent means, with respect to any Lender, any Person as to which such Lender is, directly or indirectly, a subsidiary.

  • U.S. Credit Party means the U.S. Borrower and each U.S. Subsidiary Guarantor.

  • Initial Borrower has the meaning specified in the preamble hereto.

  • Additional Borrower means a company which becomes an Additional Borrower in accordance with Clause 25 (Changes to the Obligors).