Common use of Most Favored Lender Clause in Contracts

Most Favored Lender. If at any time any of the Credit Agreement, or any agreement or document related to the Credit Agreement or any Principal Credit Facility of the Company, includes (i) any covenant, event of default or similar provision that is not provided for in this Agreement, or (ii) any covenant, event of default or similar provision that is more restrictive than the same or similar covenant, event of default or similar provision provided in this Agreement (all such provisions described in clauses (i) or (ii) of this Section 9.9 being referred to as the “Most Favored Covenants”), then (a) such Most Favored Covenant shall immediately and automatically be incorporated by reference in this Agreement as if set forth fully herein, mutatis mutandis, and no such provision may thereafter be waived, amended or modified under this Agreement except pursuant to the provisions of Section 17, and (b) the Company shall promptly, and in any event within five (5) Business Days after entering into any such Most Favored Covenant, so advise the holders of Notes in writing. Thereafter, upon the request of the Required Holders, the Company shall enter into an amendment to this Agreement with the Required Holders evidencing the incorporation of such Most Favored Covenant, it being agreed that any failure to make such request or to enter into any such amendment shall in no way qualify or limit the incorporation by reference described in clause (a) of the immediately preceding sentence.

Appears in 3 contracts

Samples: Intercreditor Agreement (Encore Capital Group Inc), Senior Secured Note Purchase Agreement (Encore Capital Group Inc), Senior Secured Note Purchase Agreement (Encore Capital Group Inc)

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Most Favored Lender. If at any time any of the Credit Agreement, or any agreement or document related to the Credit Agreement or any Principal Credit Facility of the Company, includes (ia) any covenant, event of default or similar provision that is not provided for in this Agreement, or (iib) any covenant, event of default or similar provision that is more restrictive than the same or similar covenant, event of default or similar provision provided in this Agreement (all such provisions described in clauses (ia) or (iib) of this Section 9.9 being referred to as the “Most Favored Covenants”), then (a) such Most Favored Covenant shall immediately and automatically be incorporated by reference in this Agreement as if set forth fully herein, mutatis mutandis, and no such provision may thereafter be waived, amended or modified under this Agreement except pursuant to the provisions of Section 17, and (b) the Company shall promptly, and in any event within five (5) Business Days days after entering into any such Most Favored Covenant, so advise the holders of Notes in writing. Thereafter, upon the request of the Required Holders, the Company shall enter into an amendment to this Agreement with the Required Holders evidencing the incorporation of such Most Favored Covenant, it being agreed that any failure to make such request or to enter into any such amendment shall in no way qualify or limit the incorporation by reference described in clause (a) of the immediately preceding sentence.

Appears in 3 contracts

Samples: Note Purchase Agreement (Encore Capital Group Inc), Note Purchase Agreement (Encore Capital Group Inc), Indemnity and Contribution Agreement (Encore Capital Group Inc)

Most Favored Lender. If at any time any of the Bank Credit Agreement, or any agreement or document related to the Bank Credit Agreement or any Principal Credit Facility of the CompanyAgreement, includes (ia) any covenant, event of default or similar provision that is not provided for in this Agreement, or (iib) any covenant, event of default or similar provision that is more restrictive than the same or similar covenant, event of default or similar provision provided in this Agreement (all such provisions described in clauses (ia) or (iib) of this Section 9.9 9.8 being referred to as the “Most Favored CovenantsProvisions”), then (ai) such Most Favored Covenant Provision shall immediately and automatically be incorporated by reference in this Agreement as if set forth fully herein, mutatis mutandis, and no such provision may thereafter be waived, amended or modified under this Agreement except pursuant to the provisions of Section 17, and (bii) the Company shall promptly, and in any event within five (5) Business Days after entering into any such Most Favored CovenantProvision, so advise the holders of Notes in writing. Thereafter, upon the request of the Required Holders, the Company shall enter into an amendment to this Agreement with the Required Holders evidencing the incorporation of such Most Favored CovenantProvision, it being agreed that any failure to make such request or to enter into any such amendment shall in no way qualify or limit the incorporation by reference described in clause (ai) of the immediately preceding sentence.

Appears in 2 contracts

Samples: Note Purchase and Private Shelf Agreement (Cubic Corp /De/), Note Purchase and Private Shelf Agreement (Cubic Corp /De/)

Most Favored Lender. (a) If at any time any of after the Credit AgreementEffective Date, or any agreement or document related to the Credit Agreement or any Principal Specified Credit Facility of the Company, includes (i) shall include any covenantrestriction, event of default or similar other provision (or any thereof shall be amended or otherwise modified) that is not provided for in this Agreement, restricts or (ii) any covenantlimits investments by the Company or dividends or distributions to the shareholders of the Company and such restriction, event of default or similar provision that is not contained in this Agreement or would be more restrictive beneficial to the holders of Notes than the same or similar covenantany analogous restriction, event of default or similar provision provided contained in this Agreement (all any such provisions described in clauses (i) restriction, event of default or (ii) of this Section 9.9 being referred to as the provision, an Most Favored CovenantsAdditional Covenant”), then (a) such the Company shall provide a Most Favored Lender Notice to the holders of Notes. Thereupon, unless waived in writing by the Required Holders within ten (10) Business Days of receipt of such notice by the holders of the Notes, such Additional Covenant (including any associated cure or grace period) shall immediately and be deemed automatically be incorporated by reference in into this Agreement Agreement, mutatis mutandis, as if set forth fully herein, mutatis mutandiswithout any further action required on the part of any Person, and no effective as of the date after the Effective Date when such provision may thereafter be waived, amended or modified Additional Covenant became effective under this Agreement except pursuant to the provisions of Section 17, and (b) the Company shall promptly, and in any event within five (5) Business Days after entering into any such Most Favored Covenant, so advise the holders of Notes in writingSpecified Credit Facility. Thereafter, upon the request of the Required Holdersany holder of a Note, the Company shall enter into an any additional agreement or amendment to this Agreement with the Required Holders reasonably requested by such holder evidencing the incorporation of such Most Favored Covenant, it being agreed that any failure to make such request or to enter into any such amendment shall in no way qualify or limit the incorporation by reference described in clause (a) of the immediately preceding sentenceforegoing.

Appears in 1 contract

Samples: Note Purchase Agreement (Barings BDC, Inc.)

Most Favored Lender. If at any time any lender or other provider of the Credit Agreement, or any agreement or document related to the Credit Agreement or credit under any Principal Credit Facility has the benefit of the Company, includes one or more financial or operational covenants (i) any whether set forth as a covenant, an event of default or similar provision otherwise) that is not provided for in this Agreementdifferent than, or similar to but more restrictive than, the financial or operational covenants (ii) any whether set forth as a covenant, an event of default or similar provision that is more restrictive than the same or similar covenant, event of default or similar provision provided otherwise) in this Agreement (all each such provisions described in clauses (i) financial or (ii) operational covenant of this Section 9.9 being any Principal Credit Facility referred to herein as the a “Most Favored CovenantsProvision”), then (a) each such Most Favored Covenant Provision shall immediately and automatically be incorporated by reference in this Agreement as if set forth fully herein, mutatis mutandis, and no such provision Most Favored Provision may thereafter be waived, amended or otherwise modified under this Agreement except (x) pursuant to the provisions Section 17 (Amendment and Waiver) and (y) as specified in each of Section 17Sections 10.2(h), 10.3(e), 10.5(c), 10.6(d) and 10.15, and (b) the Company shall promptly, and in any event within five (5) 5 Business Days after entering into any such Most Favored CovenantProvision, so advise the holders of Notes in writing. Thereafter, upon the request of the Required Holders, the Company shall enter into an amendment to this Agreement with the Required Holders evidencing the incorporation of such Most Favored CovenantProvision, it being agreed and acknowledged that any failure to make such request or to enter into any such amendment shall in no way qualify or limit the incorporation by reference described in clause (a) of the immediately preceding sentence.

Appears in 1 contract

Samples: Indemnity and Contribution Agreement (Wd 40 Co)

Most Favored Lender. If at any time any of the Credit Agreement, or any agreement or document related to the Credit Agreement or any Principal Credit Facility of the CompanyCompany or any Material Subsidiary, includes (ia) any covenant, event of default or similar provision that is not provided for in this Agreement, or (iib) any covenant, event of default or similar provision that is more restrictive than the same or similar covenant, event of default or similar provision provided in this Agreement (all such provisions described in clauses (ia) or (iib) of this Section 9.9 10.11 being referred to as the “Most Favored CovenantsProvisions”), then (aX) such Most Favored Covenant Provision shall immediately and automatically be incorporated by reference in this Agreement as if set forth fully herein, mutatis mutandis, and no such provision may thereafter be waived, amended or modified under this Agreement except pursuant to the provisions of Section 17, and (bY) the Company shall promptly, and in any event within five (5) Business Days after entering into any such Most Favored CovenantProvision, so advise the holders of Notes in writing. Thereafter, upon the request of the Required Holders, the Company shall enter into an amendment to this Agreement with the Required Holders evidencing the incorporation of such Most Favored CovenantProvision, it being agreed that any failure to make such request or to enter into any such amendment shall in no way qualify or limit the incorporation by reference described in clause (aX) of the immediately preceding sentence.

Appears in 1 contract

Samples: LTC Properties Inc

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Most Favored Lender. If at any time any of the Credit Agreement, or any agreement or document related to the Credit Agreement or any Principal Credit Facility of the CompanyCompany or any Material Subsidiary, includes (ia) any covenant, event of default or similar provision that is not provided for in this Agreement, or (iib) any covenant, event of default or similar provision that is more restrictive than the same or similar covenant, event of default or similar provision provided in this Agreement (all such provisions described in clauses (ia) or (iib) of this Section 9.9 10.11 being referred to as the “Most Favored CovenantsProvisions”), then (aX) such Most Favored Covenant Provision shall immediately and automatically be incorporated by reference in this Agreement as if set forth fully herein, mutatis mutandis, and no such provision may thereafter be waived, amended or modified under this Agreement except pursuant to the provisions of Section 17, and (bY) the Company shall promptly, and in any event within five (5) Business Days after entering into any such Most Favored CovenantProvision, so advise the holders of Notes in writing. Thereafter, upon the request of the Required Holders, the Company shall enter into an amendment to this Agreement with the Required Holders evidencing the incorporation of such Most Favored CovenantProvision, it being agreed that any failure to make such request or to enter into any such amendment shall in no way qualify or limit the incorporation by reference described in clause (aX) of the immediately preceding sentence.

Appears in 1 contract

Samples: Note Purchase and Private Shelf Agreement (LTC Properties Inc)

Most Favored Lender. If at any time any of the Credit Agreement, or any agreement or document related to the Credit Agreement or any Principal Credit Facility of the Company, includes (i) any covenant, event of default or similar provision that is not provided for in this Agreement, or (ii) any covenant, event of default or similar provision that is more restrictive than the same or similar covenant, event of default or similar provision provided in this Agreement (all such provisions described in clauses (i) or (ii) of this Section 9.9 9.12 being referred to as the “Most Favored Covenants”), then (a) such Most Favored Covenant shall immediately and automatically be incorporated by reference in this Agreement as if set forth fully herein, mutatis mutandis, and no such provision may thereafter be waived, amended or modified under this Agreement except pursuant to the provisions of Section 17, and (b) the Company shall promptly, and in any event within five (5) Business Days after entering into any such Most Favored Covenant, so advise the holders of Notes in writing. Thereafter, upon the request of the Required Holders, the Company shall enter into an amendment to this Agreement with the Required Holders evidencing the incorporation of such Most Favored Covenant, it being agreed that any failure to make such request or to enter into any such amendment shall in no way qualify or limit the incorporation by reference described in clause (a) of the immediately preceding sentence.

Appears in 1 contract

Samples: Senior Secured Note Purchase Agreement (Encore Capital Group Inc)

Most Favored Lender. If at any time any of the Credit Agreement, or any agreement or document related to the Credit Agreement or any Principal Credit Facility of the Company, includes (i) any covenant, event of default or similar provision that is not provided for in this Agreement, or (ii) any covenant, event of default or similar provision that is more restrictive than the same or similar covenant, event of default or similar provision provided in this Agreement (all such provisions described in clauses (i) or (ii) of this Section 9.9 being referred to as the “Most Favored Covenants”), then (a) such Most Favored Covenant shall immediately and automatically be incorporated by reference in this Agreement as if set forth fully herein, mutatis mutandis, and no such provision may thereafter be waived, amended or modified under this Agreement except pursuant to the provisions of Section 17, and (b) the Company shall promptly, and in any event within five (5) Business Days after entering into any such Most Favored Covenant, so advise the holders of Notes in writing. Thereafter, upon the request of the Required Holders, the Company shall enter into an amendment to this Agreement with the Required Holders evidencing the incorporation of such Most Favored Covenant, it being agreed that any failure to make such request or to enter into any such amendment shall in no way qualify or limit the incorporation by reference described in clause (a) of the immediately preceding sentence.

Appears in 1 contract

Samples: Secured Note Purchase Agreement (Encore Capital Group Inc)

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