Common use of Basis for Structure Clause in Contracts

Basis for Structure. HC and HMC desire to utilize their borrowing potential on a combined basis to the same extent possible if they were merged into a single corporate entity. Each has determined that it will specifically and materially benefit from all Borrowings. They intend, and the Agent and the Lenders have required, that the Companies jointly and severally execute and deliver this Agreement, the Senior Credit Note and certain other Facilities Papers. Each Company has requested and bargained for the structure and terms of, and security for, all Borrowings.