Impaired Loans Sample Clauses

Impaired Loans. In the event that the Loan or any Senior Mezzanine Loan is “Impaired” (as defined below; Lender or any Senior Lender so Impaired, an “Impaired Lender”) as a result of a voluntary bankruptcy filing by any Loan Party or any Related Party of any Loan Party or the filing of an answer by any such Person consenting to or otherwise acquiescing in, colluding in or joining in any involuntary petition filed against any Loan Party, in each case at a time when any such Person is owned in whole or in part (directly or indirectly) by Guarantor or a Related Party of Guarantor, then neither Guarantor nor any Related Party of Guarantor shall receive or retain any common, preferred or other equity interest in any such Loan Party or other financial benefit (including fees for services) of any kind (including as a result of a so-called “new value” plan or equity contribution) (a “Bankruptcy Retained Interest”) without the consent of at least ninety percent (90%) of all lenders (calculated by amount of interest held) comprising such Impaired Lender. In the event that Lender or any Senior Mezzanine Lender receives a deed in lieu of foreclosure or an equivalent of all or any portion (other than a de minimis portion) of the Collateral or any collateral securing any of the Senior Mezzanine Loans, then neither Guarantor nor any Related Party of Guarantor may receive or retain any Bankruptcy Retained Interest and any such Bankruptcy Retained Interest shall be paid promptly over to Senior Recovery Lender. Notwithstanding the foregoing, in the event that Guarantor or any Related Party of Guarantor receives and/or retains any Bankruptcy Retained Interest in violation of this Section 1.15, it shall immediately sell to Senior Recovery Lender all such Bankruptcy Guaranty & Indemnity Agreement
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Impaired Loans. In the event that the Loan, any Other Senior Mezzanine Loan or any Mortgage Loan is “Impaired” (as defined below; Lender, Mortgage Lender or any Other Senior Mezzanine Lender so Impaired, an “Impaired Lender”) as a result of a voluntary bankruptcy filing by any Loan Party or any Related Party of any Loan Party or the filing of an answer by any such Person consenting to or otherwise acquiescing in, colluding in or joining in any involuntary petition filed against any Loan Party, in each case at a time when any such Person is owned in whole or in part (directly or indirectly) by Guarantor or a Related Party of Guarantor, then neither Guarantor nor any Related Party of Guarantor shall receive or retain any common, preferred or other equity interest in any such Loan Party or other financial benefit (including fees for services) of any kind (including as a result of a so-called “new value” plan or equity contribution) (a “Bankruptcy Retained Interest”) without the consent of at least ninety percent (90%) of all lenders (calculated by amount of interest held) comprising such Impaired Lender. In the event that Lender, Mortgage Lender or any Other Senior Mezzanine Lender receives a deed in lieu of foreclosure or an equivalent of all or any portion (other than a de minimis portion) of the Collateral, the Mortgage Collateral or any collateral securing any of the
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Impaired Loans. In the event that the Loan, any Other Senior Mezzanine Loan or any Mortgage Loan is “Impaired” (as defined below; Lender, Mortgage Lender or any Other Senior Mezzanine Lender so Impaired, an “Impaired Lender”) as a result of a voluntary bankruptcy filing by any Loan Party or any Related Party of any Loan Party or the filing of an answer by any such Person consenting to or otherwise acquiescing in, colluding in or joining in any involuntary petition filed against any Loan Party, in each case at a time when any such Person is owned in whole or in part (directly or indirectly) by Guarantor or a Related Party of
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Impaired Loans. In the event that the Loan, any Senior Mezzanine Loan or any Mortgage Loan is “Impaired” (as defined below; Lender, Mortgage Lender or any Other Senior Mezzanine Lender so Impaired, an “Impaired Lender”) as a result of a voluntary bankruptcy filing by any Loan Party or any Related Party of any Loan Party or the filing of an
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Related to Impaired Loans

  • Repayment of Revolver Loans Revolver Loans shall be due and payable in full on the Revolver Termination Date, unless payment is sooner required hereunder. Revolver Loans may be prepaid from time to time, without penalty or premium. If any Asset Disposition includes the disposition of Accounts or Inventory, then Net Proceeds equal to the greater of (a) the net book value of such Accounts and Inventory, or (b) the reduction in the Borrowing Base upon giving effect to such disposition, shall be applied to the Revolver Loans. Notwithstanding anything herein to the contrary, if an Overadvance exists, Borrowers shall, on the sooner of Agent’s demand or the first Business Day after any Borrower has knowledge thereof, repay the outstanding Revolver Loans in an amount sufficient to reduce the principal balance of Revolver Loans to the Borrowing Base.

  • Cash Collateral, Repayment of Swingline Loans If the reallocation described in clause (iv) above cannot, or can only partially, be effected, the Borrower shall, without prejudice to any right or remedy available to it hereunder or under law, (x) first, prepay Swingline Loans in an amount equal to the Swingline Lender’s Fronting Exposure and (y) second, Cash Collateralize the Issuing Lender’s Fronting Exposure in accordance with the procedures set forth in Section 3.10.

  • Impaired Agent (a) If, at any time, the Agent becomes an Impaired Agent, an Obligor or a Lender which is required to make a payment under the Finance Documents to the Agent in accordance with Clause 33.1 (Payments to the Agent) may instead either pay that amount direct to the required recipient or pay that amount to an interest-bearing account held with an Acceptable Bank within the meaning of paragraph (a) of the definition of “Acceptable Bank” and in relation to which no Insolvency Event has occurred and is continuing, in the name of the Obligor or the Lender making the payment and designated as a trust account for the benefit of the Party or Parties beneficially entitled to that payment under the Finance Documents. In each case, such payments must be made on the due date for payment under the Finance Documents.

  • Base Rate Loans During such periods as Revolving Loans shall be comprised in whole or in part of Base Rate Loans, such Base Rate Loans shall bear interest at a per annum rate equal to the Adjusted Base Rate.

  • Cash Collateral, Repayment of Swing Line Loans If the reallocation described in clause (a)(iv) above cannot, or can only partially, be effected, the Borrower shall, without prejudice to any right or remedy available to it hereunder or under applicable Law, (x) first, prepay Swing Line Loans in an amount equal to the Swing Line Lenders’ Fronting Exposure and (y) second, Cash Collateralize the L/C Issuers’ Fronting Exposure in accordance with the procedures set forth in Section 2.15.

  • Committed Loans Subject to the terms and conditions set forth herein, each Lender severally agrees to make loans (each such loan, a “Committed Loan”) to the Borrower from time to time, on any Business Day during the Availability Period, in an aggregate amount not to exceed at any time outstanding the amount of such Lender’s Commitment; provided, however, that after giving effect to any Committed Borrowing, (i) the Total Outstandings shall not exceed the Aggregate Commitments, and (ii) the aggregate Outstanding Amount of the Committed Loans of any Lender, plus such Lender’s Applicable Percentage of the Outstanding Amount of all L/C Obligations, plus such Lender’s Applicable Percentage of the Outstanding Amount of all Swing Line Loans shall not exceed such Lender’s Commitment. Within the limits of each Lender’s Commitment, and subject to the other terms and conditions hereof, the Borrower may borrow under this Section 2.01, prepay under Section 2.05, and reborrow under this Section 2.01. Committed Loans may be Base Rate Loans or Eurodollar Rate Loans, as further provided herein.

  • Revolver Loans Each Lender agrees, severally on a Pro Rata basis up to its Revolver Commitment, on the terms set forth herein, to make Revolver Loans to Borrowers from time to time through the Commitment Termination Date. The Revolver Loans may be repaid and reborrowed as provided herein. In no event shall Lenders have any obligation to honor a request for a Revolver Loan if the unpaid balance of Revolver Loans outstanding at such time (including the requested Loan) would exceed the Borrowing Base.

  • Application of Prepayments of Loans to Base Rate Loans and Eurodollar Rate Loans Considering each Class of Loans being prepaid separately, any prepayment thereof shall be applied first to Base Rate Loans to the full extent thereof before application to Eurodollar Rate Loans, in each case in a manner which minimizes the amount of any payments required to be made by Borrower pursuant to Section 2.18(c).

  • Borrowing Mechanics for Revolving Loans (i) Except pursuant to Section 2.4(d), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount, Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount.

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