Examples of Senior Lending Agreements in a sentence
The Agent shall promptly notify the Province’s Representative as soon as reasonably practicable, but in any event no later than 20 Business Days thereafter, upon all amounts due and owing to the Secured Parties under the Senior Lending Agreements having been fully and irrevocably paid or discharged (whether or not as a result of enforcement) and the Senior Lenders being under no further obligation to advance any monies under the relevant Senior Lending Agreements.
The Agent may assign or transfer all of its rights and obligations under this Agreement to a successor Agent in accordance with the Senior Lending Agreements without the consent of the Province provided that the Agent delivers to the Province not less than 10 Business Days prior to such assignment or transfer a notice setting out such contact information regarding the assignee or transferee as the Province may reasonably require.
Notwithstanding any provision of any other Implementing Agreement, including Section 2.5(a)(iv) of the Project Agreement, no review by Owner of the Senior Lending Agreements shall constitute an acceptance of or acquiescence to any of the Senior Lending Agreements or any term or condition thereof by Owner, and this Lender’s Direct Agreement and the Project Agreement shall not be subject to any of the terms and conditions of the Senior Lending Agreements.
Without limiting the rights and remedies of Agent hereunder and without prejudice to Agent’s right to enforce the Senior Lending Agreements against Project Co, upon the occurrence of a Project Co Event of Default, Agent shall forthwith serve notice of default on the Surety and make demand on the Surety under the Performance Bond if the Project Co Event of Default is also a default by the Contractor of its obligations under the Construction Contract (a “Construction Event of Default”).
Owner acknowledges that Project Co’s interest in the Trust Account has been assigned to Agent as part of the security under the Senior Lending Agreements, and agrees that any monies payable to Project Co hereunder that are funded by monies deposited in the Trust Account shall be paid directly to Agent or as Agent may direct out of the Trust Account in accordance with the provisions of the Trust Account Acknowledgment Agreement.