To induce Clause Samples
The "To induce" clause defines actions or statements made by one party with the intention of persuading or encouraging another party to enter into an agreement or take a specific action. In practice, this clause often highlights representations, promises, or assurances that are made to influence the other party’s decision-making process. Its core function is to clarify the motivations behind certain statements or conduct, helping to establish whether inducement occurred and potentially addressing issues of misrepresentation or reliance in contractual relationships.
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To induce the Lenders to enter into this Agreement, the Borrower hereby represents and warrants to each Lender on the date hereof as follows:
To induce. MLCFC to grant a waiver of the Identified Defaults and enter into this Amendment, Customer agrees to provide MLCFC with a commitment letter from another lender on or before February 28, 2010 to finance the outstanding indebtedness under the Loan Documents (the "Take-Out Commitment"). Such commitment letter shall be sent to the attention of Anne Easter via fax no. (312) 499-3252 or e-mail at anne.m.easter@ba▇▇.▇▇▇.
To induce. StarTronix International and StarTronix to enter into this Agreement and to consummate the transactions contemplated hereby, and without limiting any covenant, agreement, representation or warranty made RunTec covenants and agrees as follows:
To induce. Barclays to make the New Barclays Loan, Borrower, Cal-Maine Farms, Inc., and Cal-Maine Egg Products, Inc. have agreed to grant security interests and liens to Barclays in the New Properties, to the extent applicable, and in the properties covered by the Existing Collateral Documents (herein the "Existing Properties" and together with the New Properties herein referred to as the "Properties").
I. Rabobank and Barclays have entered into that certain Intercreditor Agreement dated the date hereof (as the same may be amended, the "Intercreditor Agreement") pursuant to which Rabobank and Barclays set forth therein their respective rights and priorities in and with respect to the Properties and appointed Rabobank as agent for itself and Barclays (in such capacity herein referred to as the "Agent") to act as agent with respect to the Properties as therein provided.
J. To facilitate the collateral arrangements contemplated by this Agreement, the Term Loan Agreement, the Reimbursement Agreement and the Intercreditor Agreement, Rabobank has assigned 'all of its right, title, and interest in and to the-Existing Collateral Documents to the Agent pursuant to that certain Assignment Agreement dated the date hereof (as the same may be amended, herein the "Assignment"); provided that with respect to that certain Collateral Pledged Agreement dated October 17, 1984 executed by Borrower, Cal-Maine Farms, Inc. and Cal-Maine Egg Products, Inc. for the benefit of Rabobank which is an existing Collateral Document, Rabobank, Borrower, Cal-Maine Farms, Inc. and Cal-Maine Egg Products, Inc. only amended the terms thereof to provide that both Rabobank and Barclays shall be pledgees thereunder pursuant to that certain Amendment to Collateral Pledge Agreement and Assignment of Interest dated the date hereof (such Collateral Pledge Agreement, as amended, herein the "Pledge Agreement" and together with the Collateral Chattel Mortgage Note pledged pursuant thereto and the Act of Collateral Chattel Mortgage on Inventory dated October 17, 1984 executed by Borrower, Cal-Maine Farms, Inc. and Cal-Maine Egg Products, Inc. in connection therewith, herein collectively referred to as the "Louisiana Collateral Documents").
To induce the Senior Lenders to consent to the Borrower's entering into the Subordinated Credit Agreement, the Company and the Subordinated Lender have agreed to enter into this Agreement.