Sovereign Facility definition

Sovereign Facility means that certain credit facility provided by Sovereign to Borrower pursuant to the documents listed on Schedule 1.1 (jjjj) hereto (the "SOVEREIGN DOCUMENTS).
Sample 1
Sovereign Facility means that certain credit facility provided by Sovereign Bank ("Sovereign") and other lenders to Borrower pursuant to the documents listed on SCHEDULE B hereto (the "Sovereign Documents"). STANDBY MANAGER. Shall mean the Person selected by Lender to act as standby manager of the Resorts in accordance with the Loan Agreement and the Consulting Agreement. STANDBY SERVICER. Shall mean the Person selected by Lender to act as standby servicer in accordance with the Loan Agreement and the Backup Servicing Agreement. The current Standby Servicer is Concord Servicing Corporation. SUPPLEMENTAL AVAILABILITY PERIOD. The period commencing on the Closing Date and ending on March 31, 2004. SUPPLEMENTAL LOAN COLLATERAL. The portion of the Collateral securing the Supplemental Loan. SUPPLEMENTAL REVOLVING PERIOD. The period commencing on the Closing Date and ending on March 31, 2004. SURVEY. A plat or survey of the Resorts and the Real Estate Collateral prepared by a licensed surveyor acceptable to Lender and in a form acceptable to Lender. TANGIBLE NET WORTH. Tangible Net Worth means, with respect to any Person, the amount calculated in accordance with GAAP as: (i) the consolidated net worth of such Person and its consolidated subsidiaries, plus (ii) to the extent not otherwise included in such consolidated net worth, unsecured subordinated debt of such Person and its consolidated subsidiaries, the terms and conditions of which are reasonably satisfactory to Lender, minus (iii) the consolidated intangibles of such Person and its consolidated subsidiaries, including, without limitation, goodwill, trademarks, tradenames, copyrights, patents, patent allocations, licenses and rights in any of the foregoing and other items treated as intangible in accordance with GAAP. Notwithstanding the foregoing, if subsequent to the Closing Date deferred sales are no longer considered an asset under GAAP, Lender agrees, at the request of Borrower, to determine, in its reasonable discretion, whether deferred sales should continue to be considered an asset for purposes of determining Borrower's Tangible Net Worth.
Sample 1
Sovereign Facility means that certain credit facility provided by Sovereign Bank ("Sovereign") to Borrower pursuant to the documents listed on SCHEDULE E hereto (the "Sovereign Documents"). SUPPLEMENTAL LOAN. That certain $10,000,000 loan facility from Heller to Borrower under that certain Second Amended and Restated Invxxxxxx Loan and Security Agreement between Borrower and Heller dated March 1, 2001, as modified and amended, pursuant to whicx xxxxnces to Borrower are made from Heller during the Supplemental Revolving Period (as defined therein). TANGIBLE NET WORTH. Tangible Net Worth means, with respect to any Person, the amount calculated in accordance with GAAP as: (i) the consolidated net worth of such Person and its consolidated subsidiaries, plus (ii) to the extent not otherwise included in such consolidated net worth, unsecured subordinated debt of such Person and its consolidated subsidiaries, the terms and conditions of which are reasonably satisfactory to Agent, minus (iii) the consolidated intangibles of such Person and its consolidated subsidiaries, including, without limitation, goodwill, trademarks, tradenames, copyrights, patents, patent allocations, licenses and rights in any of the foregoing and other items treated as intangible in accordance with GAAP.
Sample 1

Examples of Sovereign Facility in a sentence

  • There ix xx xvent of default or event which, with the passage of time, notice or both, would constitute an event of default under either the Heller Facility or the Sovereign Facility and Borrower is in good staxxxxx under both of such facilities.

  • Prior to March 31, 2003, Borrower will not obtain financing and grant liens with respect to any of Borrower's unpledged Notes Receivable, except as provided in this Agreement, the Additional Credit Facility, the Tranche C Facility, the Inventory Loan, the Heller Facility, and the Sovereign Facility, without the Agent's priox xxxxten consent, which consent will not be unreasonably withheld.

  • The modifications of the Heller Facixxxx xnd the Sovereign Facility on terms and conditions as xxxxxded in the Business Plan, have closed and Lender has been provided with true and correct copies of the Heller Documents and the Sovereign Documents, as so modified.

  • Borrower will not permit as of the last day of each calendar quarter its over 30-day delinquency rate on its entire Notes Receivable portfolio (including, without limitation, all Eligible Notes Receivable pledged pursuant to the Textron Facility and the Sovereign Facility) to be greater than twenty-five percent (25%).

  • The modifications of the Heller Facixxxx xnd the Sovereign Facility on terms and conditions as xxxxxded in the Business Plan, have closed and Agent has been provided with true and correct copies of the Heller Documents and the Sovereign Documents, as so modified.

  • Borrower further acknowledges and agrees that upon repayment in full of the Heller Facility and/or the Sovereign Facility, Lender's security intexxxx xn the collateral securing such facilities shall automatically become a first priority security interest securing the Borrower's Obligations hereunder and under the Existing Credit Facilities and Borrower shall take such steps as Lender may request to deliver such collateral to Lender and to confirm Lender's first priority security interest therein.

  • Borrower acknowledges and agrees that each of Lenders hereunder, Heller (with respect to the Inventory Loan and the Supplemental Loan), Xxxxron and Sovereign has been and is hereby granted a security interest in all of Borrower's Notes Receivable and Intervals securing the Loan Agreement, the Inventory Loan Agreement, as amended and restated, the Textron Facility, and the Sovereign Facility.

  • Borrower shall deliver to Agent, evidence satisfactory to Agent and Lenders, that the Textron Facility and the Sovereign Facility have each been modified in a manner as previously approved by Lenders and Agent and Agent has been provided with copies of all of the executed Textron Documents modifications and the executed Sovereign Documents modifications.

  • The modifications of the Textron Facility and the Sovereign Facility on terms and conditions substantially similar to those set forth in the Term Sheet and otherwise approved by Lender, have closed and Lender has been provided with true and correct copies of the Textron Documents and the Sovereign Documents, as so modified.

  • Borrower shall not amend or modify the Sovereign Documents, the DZ Documents, the Bondholder Exchange Documents, the Silverleaf Finance II Documents or the documents evidencing any other indebtedness of Borrower, nor shall Borrower extend, modify, increase or terminate the DZ Facility, the Bond Holder Exchange Transaction, the Sovereign Facility, the TFC Conduit Loan or any other credit facility or loan, without the prior written consent of Lender, which consent shall not be unreasonably withheld.

Related to Sovereign Facility

  • Facility Site shall have the meaning set forth in the recitals to the Facility Site Lease.

  • L/C Facility means the letter of credit facility established pursuant to Article III.

  • Bank Facility means any credit agreement, including the Existing Credit Agreement, together with the related documents thereto (including, without limitation, any guarantee agreements and security documents), in each case as such agreements may be amended (including any amendment and restatement thereof), supplemented or otherwise modified from time to time, including one or more credit agreements, loan agreements or similar agreements or indentures extending the maturity of, refinancing, replacing or otherwise restructuring (including increasing the amount of available borrowings thereunder or adding Restricted Subsidiaries of the Borrower as additional borrowers or guarantors thereunder) all or any portion of the Indebtedness under such agreement or agreements or any successor or replacement agreement or agreements and whether by the same or any other agent, holders, lender or group of lenders.

  • Onshore facility means any facility any part of which is located in, on, or under any land of the state, other than submerged land, that because of its location, could reasonably be expected to cause substantial harm to the environment by discharging oil into or on the navigable waters of the state or the adjoining shorelines.

  • Facility means any real property (including all buildings, fixtures or other improvements located thereon) now, hereafter or heretofore owned, leased, operated or used by Holdings or any of its Subsidiaries or any of their respective predecessors or Affiliates.

  • Cogeneration facility means a power plant in which the heat or steam is also used for industrial or commercial heating or cooling purposes and that meets Federal Energy Regulatory Commission standards for qualifying facilities under the Public Utility Regulatory Policies Act of 1978 (16

  • Off-site facility means a structural BMP located outside the subject property boundary described in the permit application for land development activity.

  • Existing Facility means a facility in existence on any given date, newly constructed or altered.

  • generation facility means a facility for generating electricity or providing ancillary services, other than ancillary services provided by a transmitter or distributor through the operation of a transmission or distribution system, and includes any structures, equipment or other things used for that purpose;

  • Bank Facilities means any overdraft limits or credit facility available to you and their associated terms;

  • New Facility means a property previously undeveloped which is placed into service by means other than or in conjunction with expansion or modernization.

  • Common Facility Means a place where tenants utilise the same equipment such as kitchen, laundry and meeting room and or car park.

  • LNG facility means a terminal which is used for the liquefaction of natural gas or the importation, offloading, and re-gasification of LNG, and includes ancillary services and temporary storage necessary for the re-gasification process and subsequent delivery to the transmission system, but does not include any part of LNG terminals used for storage;

  • Energy facility means an energy plant or transmission

  • Existing Facility Agreement means the senior secured credit facility dated 26 October 2000 made between, inter alia, UPC Broadband, UPC Financing and Toronto Dominion (Texas) LLC as facility agent and the banks and financial institutions listed therein, as amended from time to time.

  • Pollution control facilities means water and air pollution control equipment and solid waste disposal facilities or any of them.