Common use of Additional Lender Clause in Contracts

Additional Lender. The Bank, at its option, may designate another institutional lender to replace 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 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 the 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 the Bank. To that end, Borrower, upon written request of the Bank, shall execute, acknowledge and deliver to 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, 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 the Bank and the Additional Lender), all as may be reasonably required by the 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

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

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Additional Lender. The BankORIX, at its option, may designate another institutional lender to replace the Bank 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 the Bank, 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 the BankORIX, 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 the BankORIX. To that end, Borrower, upon written request of the BankORIX, shall execute, acknowledge and deliver to the Bank 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 the Bank ORIX and the Additional Lender), all as may be reasonably required by the BankORIX. 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

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

Additional Lender. The BankORIX, at its option, may designate another institutional lender to replace the Bank 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 the Bank, 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 the BankORIX, 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 the BankORIX. To that end, Borrower, upon written request of the BankORIX, shall execute, acknowledge and deliver to the Bank 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, 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 the Bank ORIX and the Additional Lender), all as may be reasonably required by the BankORIX. 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

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

Additional Lender. The Bank, at its option, may designate another institutional lender to replace 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 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 the 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 the Bank. To that end, the Borrower, upon written request of the Bank, shall execute, acknowledge and deliver to 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, 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 the Bank and the Additional Lender), all as may be reasonably required by the 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

Samples: Loan and Security Agreement (Medallion Financial Corp)

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Additional Lender. The BankORIX, 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 the Bank 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 the Bank, 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 the BankORIX, 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 the BankORIX. To that end, Borrower, upon written request of the BankORIX, shall execute, acknowledge and deliver to the Bank 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, 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 the Bank ORIX and the Additional Lender), all as may be reasonably required by the BankORIX. 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

Samples: Loan and Security Agreement (Broadsoft Inc)

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