Original Borrowers definition
Examples of Original Borrowers in a sentence
In furtherance of the foregoing, the Original Borrowers and the Borrower agree that each Letter of Credit originally issued to an Original Borrower shall be deemed for all purposes of the Loan Documents to be a Letter of Credit issued hereunder, and the Borrower hereby assumes all obligations with respect thereto.
Effective as of the Tenth Amendment Effective Date, the Original Borrowers hereby assign to the Borrower, and the Borrower hereby assumes, all of the Original Borrowers’ rights and obligations as borrowers under this Agreement and each other Loan Document.
The Original Borrowers shall pay to the Administrative Agent for the account of each Revolving Credit Lender in accordance with its Pro Rata Share, an upfront fee in respect of the Revolving Credit Commitments equal to 0.50% of the aggregate amount of the Revolving Credit Commitments provided to the Original Borrowers under this Agreement on the Closing Date, which shall be payable in full on the Closing Date.