AR Financing definition
Examples of AR Financing in a sentence
Landlord shall not unreasonably withhold or delay its consent to any AR Financing secured by a first lien upon Tenant’s Accounts Collateral and as to which Landlord has received an intercreditor agreement as required pursuant to Section 21.1.1, and, as to any other AR Financing, Landlord may withhold its consent in its sole discretion.
Capitalized terms used but not otherwise defined herein shall have the same meaning as in the AR Financing Agreement.
Repayment of the Obligations is secured by the Collateral as described in the AR Financing Agreement (together with any other collateral security granted to Bank, the “Security Documents”).
As of the Amended Facility Closing Date, Bank shall have fully-earned a non-refundable Facility Fee of $100,000, of which (i) $25,000 shall be due and payable on the Amended Facility Closing Date (the “First Installment”), and (ii) $75,000 of which shall be due and payable on the earlier of (A) the consummation of the IPO, or (B) the expiration or termination of this Agreement, including termination pursuant to Section 2.7, and the expiration or termination of the AR Financing Loan Agreement.
The Operating Loan, the Real Estate Loan and the A/R Financing will be secured by both the Property and Tenant's operations.
Each Loan Party hereby acknowledges and agrees that this Ninth Amendment constitutes a "Loan Document" under the A&R Financing Agreement.
Notwithstanding the foregoing, the Agents and the Lenders wish (and the Loan Parties agree) to eliminate any possibility that any past conditions, acts, omissions, events or circumstances would impair or otherwise adversely affect any of the Agents' and the Lenders' rights, interests, security and/or remedies under the A&R Financing Agreement and the other Loan Documents, as amended hereby.
The Borrower shall have paid on or before the Ninth Amendment Effective Date all fees and invoiced costs and expenses then payable by the Borrower pursuant to the Loan Documents, including, without limitation, Sections 2.06 and 12.04 of the A&R Financing Agreement.
Five (5) years after the Commencement Date, Landlord shall have the right to terminate the cross collateralization of Operating Loan and A/R Financing with the Real Estate Loan and to refinance the Real Estate Loan as provided in Section 2.13.
Subject to the rights, if any, of lenders of A/R Financing under this Section 2(b), nothing contained in this Section 2(b) shall impair, as between the Pledgors and the Lenders, the obligation of the Pledgors, subject to the terms and conditions hereof, to pay the Obligations as and when the same become due and payable, or shall prevent any Lender, upon an Event of Default, from exercising all rights, powers and remedies otherwise provided herein or by applicable law.