Examples of Removed Borrower in a sentence
The Company cannot designate a Restricted Subsidiary as a Borrower hereunder if such Borrower has been a Removed Borrower.
Upon satisfaction of the foregoing, the Lenders and the Issuers shall not be obligated to make Loans to, or issue Letters of Credit on account of, such Removed Borrower.
Subject to compliance with the foregoing conditions in clauses (i), (ii), (iii) and (iv) of the immediately preceding sentence, as of the Borrower Removal Date, the applicable Removed Borrower will cease to be a Borrower under this Agreement and all references to “Borrowers”, a “Borrower” or similar references will be deemed to be references only to the remaining Borrowers and all provisions relating specifically to the applicable Removed Borrower will cease to apply.
Zimmer may also designate a Borrower to be removed as a Borrower hereunder by so indicating on a duly executed amended Schedule A (each such Borrower, a "Removed Borrower"); provided, however, that no Borrower shall be relieved of any of its outstanding Obligations by virtue of becoming a Removed Borrower.
The Parent, the Borrower and the Removed Borrower hereby request such counsel to deliver such opinion.
Each Removed Borrower shall remain fully liable for any and all of its outstanding Obligations, and such Obligations shall remain fully guarantied under the Bristol-Myers Guaranty.
Upon the satisfaction of the foregoing conditions the rights and obligations of such Removed Borrower hereunder shall terminate; provided, however, that the obligations of such Removed Borrower under Section 12.5 shall survive such amendment.