Amicus Agreement definition
Examples of Amicus Agreement in a sentence
Conditioned on the Subordinated Creditor and the Borrowers executing and delivering this Agreement to the Senior Creditor and the acquisition of all of the Assets, the Senior Creditor is willing to consent to the Amicus Agreement, the sale and purchase transaction to occur pursuant thereto and to the continuation of the Loans to the Borrowers pursuant to the Credit Agreement.
Pursuant to the terms of the Amicus Agreement, LRA-NE will become indebted to the Subordinated Creditor as evidenced by a 6% convertible subordinated promissory note (the "Note") in the original principal sum of $560,000.00, to be executed by LRA-NE payable to the order of the Subordinated Creditor.
LRA-NE has requested that the Senior Creditor consent to the sale and purchase transaction with the Subordinated Creditor to be evidenced by the Amicus Agreement.
If the replacement Amicus Agreement is agreed by you in writing or by email, the replacement Amicus Agreement will immediately supersede the original Amicus Agreement (which will be immediately cancelled).
If you do not agree to the replacement Amicus Agreement, both the original Amicus Agreement and replacement Amicus Agreement will be cancelled by us 14 days after notification of such amendments.
The contract will then continue for the initial minimum term stipulated within the Amicus Agreement.
For the avoidance of doubt, if not specified on the Amicus Agreement, the initial minimum term of contract is thirty-six (36) months.
The term of the contract as indicated on the Amicus Agreement will start on the date of Acceptance and, for multi Sites, is applicable on an individual Site by Site basis.