AMRESCO Clause Samples
AMRESCO. INC. has requested that Agent and Lenders modify, amend and restate the Second Loan Agreement in order to, in part, (a) increase the revolving credit facility to an aggregate amount not to exceed Four Hundred Ninety Million and No/100 Dollars ($490,000,000), (b) revise certain financial covenants set forth in the Second Loan Agreement and (c) for AMRESCO INC.'s convenience change the structure to cause AMRESCO, INC. and AMRESCO UK Holdings Limited to be the borrowers thereunder and the other subsidiaries of AMRESCO, INC. (other than certain excluded subsidiaries) to be guarantors rather than borrowers under the credit facilities. Upon and subject to the terms of this Agreement and each of the other Loan Documents, Agent and Lenders are willing to modify, amend and restate the Second Loan Agreement. Accordingly, in consideration of the mutual covenants contained herein, Borrower, Guarantors, Agent and Lenders (each as herein defined) agree as follows:
AMRESCO. Residential Capital Markets, Inc. (the "Seller") has been duly organized and is validly existing as a corporation in good standing under the laws of the State of Delaware and is duly qualified to do business and is in good standing as a foreign corporation in each jurisdiction in which its ownership or lease of property or the conduct of its business requires such qualification, and has all power and authority necessary to own or hold its properties and to conduct the business in which it is engaged and to enter into and perform its obligations under the Transfer Agreements.
AMRESCO. INC. has requested that Agents and Arrangers (each as herein defined) arrange a credit facility to replace the credit facility created by the Third Loan Agreement in order to, in part, (a) increase the aggregate credit facility to Seven Hundred Thirty-Seven Million Five Hundred Thousand and No/100 Dollars ($737,500,000), with the ability to further increase such credit facility to Nine Hundred Million and No/100 Dollars ($900,000,000), and (b) revise certain financial covenants and other provisions set forth in the Third Loan Agreement. Upon and subject to the terms of this Agreement and each of the other Loan Documents, Agents and Lenders are willing to replace the credit facility created by the Third Loan Agreement. Accordingly, in consideration of the mutual covenants contained herein, Borrower, Guarantors, Agents and Lenders (each as herein defined) agree as follows:
AMRESCO. Amresco Residential Mortgage Corporation.