Prior Credit definition

Prior Credit has the meaning specified in the Background section hereof.
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Prior Credit. All sick leave accumulated heretofore is herein incorporated to the credit of each employee.
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Prior Credit means all credit extended by the Bank under the Prior Facility.
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Examples of Prior Credit in a sentence

  • Dealer has promptly paid and/or caused to be promptly paid such Prior Credit or Lease Balances.

  • Until the conditions precedent described in Section 2.01 have been satisfied, the obligations of the respective parties as set forth in the Prior Credit Agreement shall remain in full force and effect.

  • LENDER ACKNOWLEDGEMENT 13 Section 2.01 Conditions Precedent 13 Section 2.02 Continuing Obligations under Prior Credit Agreement 13 Section 2.03 Special Termination Date 13 Section 2.04 Acknowledgement of Change in Condition 14 ARTICLE III REPRESENTATIONS OF ISSUER 14 Section 3.01 Organization, Powers, Etc 14 Section 3.02 Authorization; Absence of Conflicts, Etc.

  • Upon the satisfaction of such conditions: (i) the balances, if any, under each 2013 Note (as defined in the Prior Credit Agreement) shall be transferred to the corresponding 2020 Note, (ii) the Issuer will pay all other amounts due to the Lenders under the Prior Credit Agreement, (iii) the Lenders will thereupon xxxx the 2013 Notes “cancelled” and the Lenders shall return the cancelled 2013 Notes to the Issuer, and (iv) the Prior Credit Agreement shall thereupon be cancelled and declared null and void.

  • Promptly upon the closing of this Agreement and the receipt by the Lenders of its Notes, such Lenders that were also Prior Lenders under the Prior Credit Agreement shall return to the Borrower any Notes delivered to such Prior Lender in connection with the Prior Credit Agreement marked "cancelled".

  • All loans outstanding as of the Closing Date under the Prior Credit Agreement shall be deemed to be Revolving Loans made under this Agreement and from and after the Closing Date shall be subject to and governed by the terms and conditions hereof, including without limitation Section 8.14.

  • Set forth in Part C of Schedule 4.01(h) is a list of each of the Stores in which the Borrower has a leasehold interest that has been pledged as of the Closing Date to secure its Obligations under the Prior Credit Agreement.

  • The Borrowers, Agent and Lenders agree that all Obligations under the Prior Credit Facilities will be deemed to be outstanding hereunder and under the applicable Facilities.

  • To effectuate the foregoing, immediately prior to the Closing Date the Administrative Agent shall calculate the Proportionate Share of each Lender in each Revolving Loan outstanding under the Prior Credit Agreement.

  • Upon the execution and delivery of this Agreement, the Prior Credit Agreement shall terminate save for those provisions therein which are expressed or intended to survive the termination thereof.


More Definitions of Prior Credit

Prior Credit means the Development Credit Agreement (Credit No. 3464-NI) entered into between the Recipient and the Association on July 8, 1998, as amended.
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Related to Prior Credit

  • Prior Credit Agreement has the meaning specified in the Recitals hereto.

  • Senior Credit Agreement means that Credit Agreement dated as of December 1, 2006 (as amended, supplemented or otherwise modified from time to time), among the Issuer, Holdings, IV, Holdings V, Holdings III, each lender from time to time party thereto and the Administrative Agent.

  • Senior Credit Facility shall include any agreement (i) changing the maturity of any Indebtedness Incurred thereunder or contemplated thereby, (ii) adding Subsidiaries of the Company as additional borrowers or guarantors thereunder, (iii) increasing the amount of Indebtedness Incurred thereunder or available to be borrowed thereunder or (iv) otherwise altering the terms and conditions thereof.

  • Bank Credit Agreement means the Revolving Credit and Term Loan Agreement, dated as of January 26, 2015, by and among the Company and certain of its Subsidiaries, Bank of America, N.A., as administrative agent, and the other financial institutions party thereto, as amended, restated, joined, supplemented or otherwise modified from time to time, and any renewals, extensions or replacements thereof, which constitute the primary bank credit facility of the Company and its Subsidiaries.

  • Prepetition Credit Agreement has the meaning specified in the recitals hereto.

  • Company Credit Agreement means that certain Credit Agreement, dated as of January 28, 2019, by and between the Company, the lenders party thereto from time to time and SunTrust Bank, as administrative agent for the revolving lenders and as collateral agent for the secured parties thereunder.

  • Existing Letters of Credit means each of the letters of credit issued under the Existing Credit Agreement outstanding on the Closing Date that are described on Schedule 1.01(b).

  • New Credit Agreement means the Credit Agreement, dated as of the Issue Date, by and among Level 3 Parent, LLC, Level 3 Financing, Inc., Wilmington Trust, National Association, as administrative agent, the New Credit Agreement Agent and each lender party thereto from time to time, as may be amended, restated, supplemented or otherwise modified from time to time.

  • Senior Credit Facilities means the Credit Facilities entered into as of the Measurement Date by and among the Issuer, Holdings III, the lenders party thereto in their capacities as lenders thereunder and Citibank, N.A., as Administrative Agent, including any guarantees, collateral documents, instruments and agreements executed in connection therewith, and any amendments, supplements, modifications, extensions, renewals, restatements, refundings or refinancings thereof and any indentures or credit facilities or commercial paper facilities with banks or other institutional lenders or investors that replace, refund or refinance any part of the loans, notes, other credit facilities or commitments thereunder, including any such replacement, refunding or refinancing facility or indenture that increases the amount borrowable thereunder or alters the maturity thereof (provided that such increase in borrowings is permitted under Section 4.09 hereof).

  • Existing Credit Agreement as defined in the recitals hereto.

  • Letter of Credit Accommodations means the letters of credit, merchandise purchase or other guaranties which are from time to time either (a) issued or opened by Lender for the account of Borrower or any Obligor or (b) with respect to which Lender has agreed to indemnify the issuer or guaranteed to the issuer the performance by Borrower of its obligations to such issuer.

  • Existing ABL Credit Agreement means that certain ABL credit agreement, dated as of April 19, 2013, among Petco Animal Supplies, Inc., the lenders party thereto, Bank of America, N.A., (as successor to Credit Suisse AG) as administrative agent, Xxxxx Fargo Bank, National Association, as collateral agent, and the subsidiaries of Petco Animal Supplies, Inc. from time to time party thereto, as amended by that certain First Amendment to the ABL Credit Agreement, dated as of November 21, 2014.

  • Five-Year Credit Agreement means the Five Year Credit Agreement dated March 31, 1999, among the Company, the Subsidiary Borrowers party thereto, the Lenders and the Administrative Agent, as Administrative Agent, as such agreement may be amended, restated or extended from time to time.

  • FTR Credit Limit means the amount of credit established with PJMSettlement that an FTR Participant has specifically designated to be used for FTR activity in a specific customer account. Any such credit so set aside shall not be considered available to satisfy any other credit requirement the FTR Participant may have with PJMSettlement.

  • Borrower Credit Agreement Obligations the collective reference to the unpaid principal of and interest on the Loans and Reimbursement Obligations and all other obligations and liabilities of the Borrower (including, without limitation, interest accruing at the then applicable rate provided in the Credit Agreement after the maturity of the Loans and Reimbursement Obligations and interest accruing at the then applicable rate provided in the Credit Agreement after the filing of any petition in bankruptcy, or the commencement of any insolvency, reorganization or like proceeding, relating to the Borrower, whether or not a claim for post-filing or post-petition interest is allowed in such proceeding) to the Administrative Agent or any Lender, whether direct or indirect, absolute or contingent, due or to become due, or now existing or hereafter incurred, which may arise under, out of, or in connection with, the Credit Agreement, this Agreement, or the other Loan Documents, or any Letter of Credit, or any other document made, delivered or given in connection therewith, in each case whether on account of principal, interest, reimbursement obligations, fees, indemnities, costs, expenses or otherwise (including, without limitation, all fees and disbursements of counsel to the Administrative Agent or to the Lenders that are required to be paid by the Borrower pursuant to the terms of any of the foregoing agreements).

  • Existing Letter of Credit means a “Letter of Credit” issued pursuant to the terms of, and as defined in, the Existing Credit Agreement and outstanding on the Closing Date and described on Schedule 1.01(B).

  • Bridge Credit Agreement means that certain Credit Agreement, dated as of December 24, 2018, by and among Parent Borrower, as Borrower, Citibank, N.A., as Agent and the other parties thereto.

  • Commercial Letters of Credit means those letters of credit subject to the UCP payable in Dollars and issued or caused to be issued by Lender on behalf of Borrower under a Loan Facility for the benefit of a supplier(s) of Borrower in connection with Borrower's purchase of goods or services from the supplier in support of the export of the Items.

  • ABL Credit Agreement as defined in the recitals hereto.

  • Letter of Credit Agreement has the meaning specified in Section 2.03(a).

  • Credit Agreement Agent means, at any time, the Person serving at such time as the “Agent” or “Administrative Agent” under the Credit Agreement or any other representative then most recently designated in accordance with the applicable provisions of the Credit Agreement, together with its successors in such capacity.

  • Line of Credit mean the credit facility described in the Section titled "LINE OF CREDIT" below.

  • Letters of Credit as defined in Section 3.1(a).

  • Bank Credit Facility means any credit agreement or working capital facility among the Company and/or its Subsidiaries and one or more lenders, as such credit agreement or working capital facility may be amended, renewed, extended, substituted, refinanced, restructured, replaced, supplemented or otherwise modified (including with other lenders) from time to time, regardless of whether any other credit agreement or working capital facility or any portion thereof was outstanding or in effect at the time of such amendment, renewal, extension, substitution, refinancing, restructuring, replacement, supplement or modification.

  • U.S. Credit Agreement means that certain credit agreement dated as of even date herewith by and among the U.S. Borrower, as borrower, the lenders party thereto, as lenders, and the U.S. Administrative Agent, as administrative agent.

  • Existing Credit Facility means the credit facility evidenced by that certain Credit Agreement, dated as of October 26, 2006, by and among the Borrower, the lenders party thereto, and JPMCB, as administrative agent, as amended.