Consent to Indebtedness Sample Clauses

Consent to Indebtedness. For the purposes of Section 5.01 of the BCA, the Company hereby consents to the incurrence by the SPAC of up to $250,000 of indebtedness from the Surf Entities.
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Consent to Indebtedness. Notwithstanding anything set forth in the Financing Agreements (including under Section 9.9 of the Loan Agreement), Agent and Lenders hereby consent to Borrowers and the Guarantors incurring, creating, assuming, becoming or being liable in any manner with respect to, or permitting to exist, any Indebtedness constituting the New Debt or any guarantees thereof and the use of all or part of the proceeds thereof to repay all or any portion of the Senior Secured Notes (including the payment of any applicable premiums, make-whole payments, penalties, fees, charges, expenses and accrued interest); provided, that, each of the following conditions precedent has been satisfied with respect to any such New Debt (or, in the case of clause (a) below, would be satisfied immediately after giving pro forma effect to any such New Debt and the use of the proceeds thereof):
Sample 1
Consent to Indebtedness. (a) Section 2 of Amendment No. 4 is hereby amended by inserting the following words at the end of the last sentence thereof immediately following “Loan Agreement”: “with respect to the Acquired Company and its Subsidiaries within thirty (30) days following the consummation of the Specified Merger (or such larger number of days following the consummation of the Specified Merger as Agent may agree in writing).”
Sample 1
Consent to Indebtedness. Bank acknowledges Borrowers’ proposed incurrence of Indebtedness in an aggregate principal amount of $5,000,000 from Multiplier Capital LP (“Multiplier”) and the grant of security interest in and to substantially all of the personal property of Borrowers to secure such obligation. Subject to Multiplier’s execution and delivery to Bank of an intercreditor agreement in form and substance satisfactory to Bank, such Indebtedness shall constitute “Permitted Indebtedness” under the Loan and Security Agreement and such lien shall constitute a “Permitted Lien” under the Loan and Security Agreement.
Sample 1
Consent to Indebtedness. Seller has notified Buyer that Seller intends to enter into (i) a mortgage servicing rights facility with Xxxxxxx Xxxxx Bank USA in an amount equal to [***], and (ii) a [***] of credit provided by Huntington Technology Finance, Inc. Pursuant to Section 11(p) of the Existing Repurchase Agreement, Buyer hereby consents to Seller incurring such additional material Indebtedness pursuant to clauses (i) and (ii) above.
Sample 1
Consent to Indebtedness. Notwithstanding anything set forth in the Financing Agreements (including under Section 9.9 of the Loan Agreement) or the New Debt Intercreditor Agreement to the contrary, Agent and Lenders hereby consent to Borrowers and Guarantor incurring, creating, assuming, becoming or being liable in any manner with respect to, or permitting to exist, the Additional New Debt on the terms and conditions set forth in the New Debt Indenture or any guarantees thereof; provided, that:
Sample 1
Consent to Indebtedness. The Purchasers, constituting a majority in interest in principal amount of the Company’s outstanding 12.5% Senior Secured Convertible Debenture due April 21, 2020 (“Prior Debentures”), hereby give written consent to issuance of the Debentures and the incurrence of debt and liens required thereunder. This consent is limited to the issuance of the Debentures hereunder and shall not be deemed a consent for the issuance of any other debt or liens by the Company.
Sample 1
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Related to Consent to Indebtedness

  • Subordination of Certain Indebtedness Cause any indebtedness of Borrower for borrowed money to any shareholder, director, officer or Affiliate of Borrower, which indebtedness has a term of more than 1 year or is in excess of $25,000, to be subordinated to the Obligations by the execution and delivery to Lender of a Subordination of Debt Agreement, on the form prescribed by Lender, certified by the corporate secretary of Borrower to be true and complete and in full force and effect.

  • Repayment of Indebtedness Except as disclosed in the Registration Statement and the Prospectus, the Company does not intend to use any of the proceeds from the sale of the Shares to repay any debt owed to the Sales Agent or the Forward Seller or any affiliate thereof.

  • Certain Indebtedness There is no Indebtedness of Borrower owing to any employee, officer, stockholder or director of the board of Borrower other than accrued salaries, commissions and the like and any Indebtedness subordinated to the Obligations pursuant hereto.

  • Prepayment of Indebtedness At any time, directly or indirectly, prepay any Indebtedness (other than to Lenders), or repurchase, redeem, retire or otherwise acquire any Indebtedness of any Borrower.

  • No Indebtedness The Borrower does not have any Indebtedness, other than Indebtedness incurred under (or contemplated by) the terms of this Agreement, the other Credit Documents or otherwise permitted hereunder.

  • Subordination of Intercompany Indebtedness Each Guarantor agrees that any and all claims of such Guarantor against the Borrower or any other Guarantor hereunder (each an “Obligor”) with respect to any “Intercompany Indebtedness” (as hereinafter defined), any endorser, obligor or any other guarantor of all or any part of the Guaranteed Obligations, or against any of its properties shall be subordinate and subject in right of payment to the prior payment, in full and in cash, of all Guaranteed Obligations; provided that, as long as no Event of Default has occurred and is continuing, such Guarantor may receive payments of principal and interest from any Obligor with respect to Intercompany Indebtedness. Notwithstanding any right of any Guarantor to ask, demand, xxx for, take or receive any payment from any Obligor, all rights, liens and security interests of such Guarantor, whether now or hereafter arising and howsoever existing, in any assets of any other Obligor shall be and are subordinated to the rights of the Holders of Guaranteed Obligations and the Administrative Agent in those assets. No Guarantor shall have any right to possession of any such asset or to foreclose upon any such asset, whether by judicial action or otherwise, unless and until all of the Guaranteed Obligations shall have been fully paid and satisfied (in cash) and all financing arrangements pursuant to any Loan Document, any Swap Agreement or any Banking Services Agreement have been terminated. If all or any part of the assets of any Obligor, or the proceeds thereof, are subject to any distribution, division or application to the creditors of such Obligor, whether partial or complete, voluntary or involuntary, and whether by reason of liquidation, bankruptcy, arrangement, receivership, assignment for the benefit of creditors or any other action or proceeding, or if the business of any such Obligor is dissolved or if substantially all of the assets of any such Obligor are sold, then, and in any such event (such events being herein referred to as an “Insolvency Event”), any payment or distribution of any kind or character, either in cash, securities or other property, which shall be payable or deliverable upon or with respect to any indebtedness of any Obligor to any Guarantor (“Intercompany Indebtedness”) shall be paid or delivered directly to the Administrative Agent for application on any of the Guaranteed Obligations, due or to become due, until such Guaranteed Obligations shall have first been fully paid and satisfied (in cash). Should any payment, distribution, security or instrument or proceeds thereof be received by the applicable Guarantor upon or with respect to the Intercompany Indebtedness after any Insolvency Event and prior to the satisfaction of all of the Guaranteed Obligations and the termination of all financing arrangements pursuant to any Loan Document among the Borrower and the Holders of Guaranteed Obligations, such Guarantor shall receive and hold the same in trust, as trustee, for the benefit of the Holders of Guaranteed Obligations and shall forthwith deliver the same to the Administrative Agent, for the benefit of the Holders of Guaranteed Obligations, in precisely the form received (except for the endorsement or assignment of the Guarantor where necessary), for application to any of the Guaranteed Obligations, due or not due, and, until so delivered, the same shall be held in trust by the Guarantor as the property of the Holders of Guaranteed Obligations. If any such Guarantor fails to make any such endorsement or assignment to the Administrative Agent, the Administrative Agent or any of its officers or employees is irrevocably authorized to make the same. Each Guarantor agrees that until the Guaranteed Obligations (other than the contingent indemnity obligations) have been paid in full (in cash) and satisfied and all financing arrangements pursuant to any Loan Document among the Borrower and the Holders of Guaranteed Obligations have been terminated, no Guarantor will assign or transfer to any Person (other than the Administrative Agent) any claim any such Guarantor has or may have against any Obligor.

  • Indebtedness Create, incur, assume or suffer to exist any Indebtedness, except:

  • Repayment of Existing Indebtedness Evidence that the principal of and interest on, and all other amounts owing in respect of, the Indebtedness (including, without limitation, any contingent or other amounts payable in respect of letters of credit) indicated on SCHEDULE 8.12A hereto that is to be repaid on the Closing Date shall have been (or shall be simultaneously) paid in full, that any commitments to extend credit under the agreements or instruments relating to such Indebtedness shall have been canceled or terminated and that all Guarantees in respect of, and all Liens securing, any such Indebtedness shall have been released (or arrangements for such release satisfactory to the Required Lenders shall have been made); in addition, the Administrative Agent shall have received from any Person holding any Lien securing any such Indebtedness, such Uniform Commercial Code termination statements, mortgage releases and other instruments, in each case in proper form for recording, as the Administrative Agent shall have requested to release and terminate of record the Liens securing such Indebtedness (or arrangements for such release and termination satisfactory to the Required Lenders shall have been made).

  • Intercompany Indebtedness The Company shall not create, incur, assume or otherwise become or remain directly or indirectly liable with respect to any Indebtedness arising from loans from any Subsidiary to the Company unless (a) such Indebtedness is unsecured and (b) such Indebtedness shall be expressly subordinate to the payment in full in cash of the Obligations on terms satisfactory to the Administrative Agent.

  • Default on Indebtedness Failure of Borrower to make any payment when due on the Loans.

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