Common use of Additional Lender Clause in Contracts

Additional Lender. ORIX, at its option, may designate another institutional lender to replace ORIX in providing all or a portion of the Loans (the “Additional Lender”), and Borrower shall cooperate with the same. In connection with the Additional Lender replacing ORIX as the lender of all or a portion of the Loans, this Agreement and the other Loan Documents shall, at the sole election of ORIX, be split or divided into two loan and security agreements, each of which shall cover all or a portion of the Collateral, as designated by ORIX. To that end, Borrower, upon written request of ORIX, shall execute, acknowledge and deliver to ORIX and/or its designee or designees substitute loan agreements, security instruments and security agreements in such principal amounts, containing terms, provisions and clauses substantially identical to those contained in this Agreement and such other documents and instruments (subject to the provisions hereof), in favor of the Additional Lender (the “Additional Lender Documents”) and appropriate amendments to this Loan Agreement and the other Loan Documents (including without limitation an intercreditor agreement between ORIX and the Additional Lender), all as may be reasonably required by ORIX. Without limiting the foregoing, the Additional Lender Documents and the amendment to this Loan Agreement, shall provide that an Event of Default under the Additional Lender Documents constitute an Event of Default under the Loan Documents, and vice versa.

Appears in 3 contracts

Sources: Loan and Security Agreement (Tangoe Inc), Loan and Security Agreement (Tangoe Inc), Loan and Security Agreement (Tangoe Inc)

Additional Lender. ORIXThe Bank, at its option, may designate another institutional lender to replace ORIX the Bank in providing all or a portion of the Loans (the “Additional Lender”), and Borrower shall cooperate with the same. In connection with the Additional Lender replacing ORIX the Bank, as the lender of all or a portion of the Loans, this Agreement and the other Loan Documents shall, at the sole election of ORIXthe Bank, be split or divided into two loan and security agreements, each of which shall cover all or a portion of the Collateral, as designated by ORIXthe Bank. To that end, Borrower, upon written request of ORIXthe Bank, shall execute, acknowledge and deliver to ORIX the Bank and/or its designee or designees substitute notes, loan agreements, security instruments and security agreements in such principal amounts, containing terms, provisions and clauses substantially identical to those contained in this Agreement Agreement, and such other documents and instruments (subject to the provisions hereof), in favor of the Additional Lender (the “Additional Lender Documents”) and appropriate amendments to this Loan Agreement and the other Loan Documents (including without limitation an intercreditor agreement between ORIX the Bank and the Additional Lender), all as may be reasonably required by ORIXthe Bank. Without limiting the foregoing, the Additional Lender Documents and the amendment to this Loan Agreement, shall provide that an Event of Default under the Additional Lender Documents constitute an Event of Default under the Loan Documents, and vice versa.

Appears in 3 contracts

Sources: Loan Modification Agreement (Coffee Holding Co Inc), Loan Modification Agreement (Coffee Holding Co Inc), Loan and Security Agreement (Coffee Holding Co Inc)

Additional Lender. ORIX, at its option, may designate another institutional lender to replace ORIX in providing all or a portion of the Loans Loan (the “Additional Lender”), and Borrower shall cooperate with the same. In connection with the Additional Lender replacing ORIX as the lender of all or a portion of the LoansLoan, this Agreement and the other Loan Documents shall, at the sole election of ORIX, be split or divided into two notes and two loan and security agreements, each of which shall cover all or a portion of the Collateral, as designated by ORIX. To that end, Borrower, upon written request of ORIX, shall execute, acknowledge and deliver to ORIX and/or its designee or designees substitute notes, loan agreements, security instruments and security agreements in such principal amounts, containing terms, provisions and clauses substantially identical to those contained in this Agreement Agreement, and such other documents and instruments (subject to the provisions hereof), in favor of the Additional Lender (the “Additional Lender Documents”) and appropriate amendments to this Loan Agreement and the other Loan Documents (including without limitation an intercreditor agreement between ORIX and the Additional Lender), all as may be reasonably required by ORIX. Without limiting the foregoing, the Additional Lender Documents and the amendment to this Loan Agreement, shall provide that an Event of Default under the Additional Lender Documents constitute an Event of Default under the Loan Documents, and vice versa.

Appears in 2 contracts

Sources: Loan and Security Agreement, Loan and Security Agreement (Aquaventure Holdings LLC)

Additional Lender. ORIX, at its optionoption and expense, with the prior written consent of Borrower (such consent not to be unreasonably withheld) unless an Event of Default shall have occurred and be continuing, may designate another institutional lender to replace ORIX in providing all or a portion of the Loans Loan (the “Additional Lender”), and Borrower shall cooperate with the same, provided that, if an Event of Default has occurred and is continuing, Borrower’s consent shall not be required and the transaction shall be at Borrower’s cost. In connection with the Additional Lender replacing ORIX as the lender of all or a portion of the LoansLoan, this Agreement and the other Loan Documents shall, at the sole election of ORIX, be split or divided into two notes and two loan and security agreements, each of which shall cover all or a portion of the Collateral, as designated by ORIX. To that end, Borrower, upon written request of ORIX, shall execute, acknowledge and deliver to ORIX and/or its designee or designees substitute notes, loan agreements, security instruments and security agreements in such principal amounts, containing terms, provisions and clauses substantially identical to those contained in this Agreement Agreement, and such other documents and instruments (subject to the provisions hereof), in favor of the Additional Lender (the “Additional Lender Documents”) and appropriate amendments to this Loan Agreement and the other Loan Documents (including without limitation an intercreditor agreement between ORIX and the Additional Lender), all as may be reasonably required by ORIX. Without limiting the foregoing, the Additional Lender Documents and the amendment to this Loan Agreement, shall provide that an Event of Default under the Additional Lender Documents constitute an Event of Default under the Loan Documents, and vice versa.

Appears in 1 contract

Sources: Loan and Security Agreement (Broadsoft Inc)

Additional Lender. ORIXThe Bank, at its option, may designate another institutional lender to replace ORIX the Bank in providing all or a portion of the Loans (the “Additional Lender”), and the Borrower shall cooperate with the same. In connection with the Additional Lender replacing ORIX the Bank, as the lender of all or a portion of the Loans, the Note(s) (if any), this Agreement and the other Loan Documents shall, at the sole election of ORIXthe Bank, be split or divided into two notes and two loan and security agreements, each of which shall cover all or a portion of the Collateral, as designated by ORIXthe Bank. To that end, the Borrower, upon written request of ORIXthe Bank, shall execute, acknowledge and deliver to ORIX the Bank and/or its designee or designees substitute notes, loan agreements, security instruments and security agreements in such principal amounts, containing terms, provisions and clauses substantially identical to those contained in this Agreement Agreement, the Note(s) (if any), and such other documents and instruments (subject to the provisions hereof), in favor of the Additional Lender (the “Additional Lender Documents”) and appropriate amendments to this Loan Agreement and the other Loan Documents (including without limitation an intercreditor agreement between ORIX the Bank and the Additional Lender), all as may be reasonably required by ORIXthe Bank. Without limiting the foregoing, the Additional Lender Documents and the amendment to this Loan Agreement, shall provide that an Event of Default under the Additional Lender Documents constitute an Event of Default under the Loan Documents, and vice versa.

Appears in 1 contract

Sources: Loan and Security Agreement (Medallion Financial Corp)