Examples of Spin-Off in a sentence
The consent of Lender to the Spin-Off Transactions (a) is limited to the extent as set out in this Amendment, and notwithstanding anything to the contrary, no other terms, covenants or provisions of the Credit Agreement or any other Loan Documents are intended to be affected by this Amendment, and (b) shall not constitute, and shall not be deemed to constitute, a waiver of future compliance by Borrower with any provision of the Credit Agreement or any other Loan Document.
Subject to the satisfaction of the conditions set out in Section 5 of this Amendment; Lender hereby consents to the consummation of the sale, transfer or other disposition by Borrower of the equity interests or capital stock in Newco, PFC, CA PFC, TWIH and EAM (the “Spin-Off Transactions”) and agrees that the Spin-Off Transactions shall not constitute an Event of Default under Section 11 of the Credit Agreement.