Examples of Wachovia Agreement in a sentence
Borrower is not in breach of or default under the Wachovia Agreement.
Because the Wachovia Agreement contains no delegation provision like the one in the Wells Fargo Agreement, the district court considered whether the arbitration clause was illusory and/or unconscionable, ultimately determining it was neither.
Unless otherwise required by applicable law, as determined by a court of competent jurisdiction, any surplus of such cash or cash proceeds held by Trustee or Holders and remaining after the full and final payment of all the Obligations shall be paid over to Wachovia unless (i) there are no amounts then owed to Wachovia under the Wachovia Agreement and (ii) the Wachovia Agreement has been terminated, in which case such surplus will be paid over to Company.
On the Closing Date, subject to fulfillment of all conditions precedent set forth in Article XIV, Lender agrees to make the Term Loan to Borrower, the proceeds from which shall be used by Borrower to pay in full all of the obligations of Borrower or any Subsidiary under (i) the Loan and Security Agreement (the "Wachovia Agreement") dated May 10, 2001, by and between Borrower and Wachovia Capital Investments, Inc.
Promptly upon the occurrence thereof, (x) notice of any "default" or "event of default" under, or amendment of, (i) the Wachovia Agreement, (ii) prior to the termination thereof, the BB&T Agreement or (iii) the Senior Notes or the Senior Note Indenture pursuant to which such Senior Notes were issued and (y) notice that the Borrower's "Consolidated Fixed Charge Coverage Ratio" (as defined in the Senior Note Indenture) does not exceed 2.5:1.0.
Promptly upon the occurrence thereof, (x) notice of any "default" or "event of default" under, or amendment of, (i) the Wachovia Agreement, (ii) the Master Lease Agreement, the (iii) Liquidity Agreement, or (iv) the Senior Notes or the Senior Note Indenture pursuant to which such Senior Notes were issued and (y) notice that the Borrower's "Consolidated Fixed Charge Coverage Ratio" (as defined in the Senior Note Indenture) does not exceed 2.5:1.0.
The Borrower shall maintain at all times, in addition to its senior revolving credit facility under the Wachovia Agreement, a liquidity facility in a principal amount of at least $100,000,000, with a maturity date no earlier than July 1, 1999, on an unsecured basis and with representations, warranties, covenants and defaults that are no more restrictive than the representations, warranties, covenants and defaults set forth in this Agreement.
For the avoidance of doubt, the Purchaser hereby appoints and authorizes the Agent as its agent under the Wachovia Agreement with full power and authority to exercise all rights of the Purchaser thereunder on the Purchaser’s behalf.
The waiver granted pursuant to clause (ii) above shall be effective for any Wachovia Agreement Lender from and after the date of receipt by the Administrative Agent of a counterpart of this Agreement executed by such Wachovia Agreement Lender whether or not this Agreement has otherwise become effective in accordance with its terms.
Parent shall have delivered a duly executed signature page to the Wachovia Agreement.