Examples of Old Lenders in a sentence
Each of the Old Lenders hereby confirms and acknowledges the discharge of all of its rights and interests under the Loan Agreement and the Security Agreement and releases, waives, and forever relinquishes all claims, demands, obligations, liabilities and causes of actions of whatever kind or nature with respect thereto .
The Old Lenders have been paid in full and shall receive no further distributions or retain any interest in property on account of their Class Three Claims.
Class Three shall consist of all Claims of the Old Lenders except for Claims of Harris arising out of the Harris Merchant Agreement and the Claim of Bank One, Wisconsin relating to a $60,000 Letter of Credit issued by Bank One for the account of the Debtors.
Use the proceeds of the advances made hereunder for any purpose other than: (a) on the Closing Date, to repay in full the outstanding principal, accrued interest, prepayment premium, and accrued fees and expenses owing to Old Lenders; (b) to pay transactional costs and expenses incurred in connection with this Agreement; and (c) thereafter, consistent with the terms and conditions hereof, for its lawful and permitted corporate purposes.
Each of the Old Lenders and each of the Banks hereby agrees that if it receives any amount under the Existing Credit Agreement or this Amended Agreement which is for the account of another party, it shall receive the same for the account of such other party to the extent of such other party's interest therein and shall promptly return the same to the Administrative Agent for distribution to such other party.
Executed signature pages for this Agreement signed by the Agent, the Old Lenders, the New Lenders and the Borrower Representative shall have been delivered to the Agent.
It is understood that commitment and all other fees and interest accrued under the Existing Credit Agreement to the Closing Date are for the account of the Old Lenders and such fees and interest accruing from and including the Closing Date under the Existing Credit Agreement, as amended and restated by this Amended Agreement, are for the account of the Banks.
QTI, QDLI, IMSI, PCI, CFI, CWI, FTI, FII, Old Lenders, Administrative Agent, and Collateral Agent, as successor collateral agent to Xxxxxxxxx, desire to amend and restate the Existing Loan Agreement in its entirety as provided in this Agreement, it being understood that no repayment of the obligations under the Existing Loan Agreement is being effected hereby, but merely an amendment and restatement in accordance with the terms hereof.
Make a payment in respect of the Indebtedness owed to Old Lenders' Agent or the Old Lenders that they are not permitted to receive, collect, or retain under the terms and conditions of the Intercreditor Agreement.
Each of the Old Lenders previously has entered into one or more lending arrangements with the Company (the "Old Loan Arrangements").