Examples of Senior Credit Party in a sentence
Upon the assignment by any Senior Credit Party of all or any portion of its rights and obligations under the Credit Agreement pursuant to the terms thereof (including all or any portion of its Revolving Credit Commitments and the Revolving Credit Loans owing to it) or any other Loan Document to any other Person, such other Person shall thereupon become vested with all the benefits and responsibilities in respect thereof granted to such transferor or assignor herein or otherwise.
No right of any Senior Credit Party to enforce the subordination of the Guarantor Obligations to the payment of the Senior Indebtedness shall be impaired by any act or failure to act by any Guarantor or by its failure to comply with this Agreement.
Each Senior Credit Party agrees promptly to notify the Borrower and the Administrative Agent after any such setoff and application made by such Senior Credit Party; provided that the failure to give such notice shall not affect the validity of such setoff and application.
Amend any of its Organization Documents in a manner that would adversely affect any Senior Credit Party in any material respect.
Each of the Guarantors agrees that if any Senior Credit Party or the Administrative Agent is required by any court or otherwise to return to the Borrower, the Guarantors or any custodian, trustee, liquidator or other similar official acting in relation to either the Borrower or the Guarantors, any amount paid either to the Administrative Agent or such Senior Credit Party, this Agreement, to the extent theretofore discharged, shall be reinstated in full force and effect.
The rights of each Senior Credit Party under this Section 4.8 are in addition to other rights and remedies (including other rights of setoff) that the Administrative Agent and such Senior Credit Party may have.
Without limiting the generality of the foregoing, the making of a Loan or issuance of a Letter of Credit shall not be construed as a waiver of any Default, regardless of whether the Administrative Agent, any other Agent, or any Senior Credit Party may have had notice or knowledge of such Default at the time.
None of the Borrower Parties or any Senior Credit Party is engaged or will engage, principally or as one of its important activities, in the business of extending credit for the purpose of “purchasing” or “carrying” any “Margin Stock” within the respective meanings of such terms under Regulations U, T and X.
The execution, delivery and performance of the Loan Documents, the borrowing hereunder, and the use of the proceeds thereof, will not violate any material Requirement of Law or any Organizational Document or any material Contractual Obligation of any of the Borrower or any of its Subsidiary Entities; or create or result in the creation of any Lien on any material assets of any of the Borrower or Senior Credit Party or their Subsidiary Entities other than the Liens created by the Loan Documents.
Except as disclosed on Schedule 4.6 hereto, no litigation, investigation or proceeding of or before any arbitrator or Governmental Authority is pending or, to Borrower’s Knowledge, threatened by or against Borrower or its Subsidiary Entities, any Senior Credit Party or against any such Person’s Properties or revenues which is likely to be adversely determined and which, if adversely determined, either individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect.