Bank Obligation definition
Examples of Bank Obligation in a sentence
Each party expressly acknowledges the existence and validity of the Note Obligation Guaranty and the Bank Obligation Guaranty, agrees not to contest or challenge the validity of the Note Obligation Guaranty or the Bank Obligation Guaranty and agrees that the judicial or other determination of the invalidity of the Note Obligation Guaranty or the Bank Obligation Guaranty shall not affect the provisions of this Agreement.
Notwithstanding the foregoing or any other provision of this Agreement, no entity may become an Issuer Subsidiary unless either (i) such entity has executed and delivered a counterpart of the Bank Obligation Guaranty or (ii) the Required Lenders (as defined in the Credit Agreement) have consented thereto.
No amounts are owing to any of the Sellers from the Corporation other than Sellers' Receivables, expenses incurred by such Seller in connection with the Business, commissions owing and contingent obligations to Sellers related to the Tinton Bank Obligation and the Moor▇ ▇▇▇ter of Credit.
NextWave shall assume the obligations of the Company under the Bank Obligation as of the Effective Time.
If any Bank is unwilling to consent to any amendment or modification of, or waiver of compliance with, the Loan Agreement (where the consent of such Bank is required), the consenting Majority Banks shall have the right, but not the obligation, to repurchase such Bank's Percentage of the Bank Obligation at such time for a purchase price equal to the amount of the Bank Obligation owing to such Bank.
The Administrative Agent may rely conclusively, and shall be fully protected in relying, on any determination made by it in accordance with the provisions of the immediately preceding sentence (or as otherwise directed by a court of competent jurisdiction) and shall have no liability to any Grantor, any holder of any Bank Obligation or any other Person as a result of such determination.
This Agreement may be executed in any number of counterparts which together shall constitute one instrument, shall be governed by and construed in accordance with the laws (other than the conflict of laws rules) of The Commonwealth of Massachusetts and shall bind and inure to the benefit of the parties hereto and their respective successors and assigns, including as such successors and assigns all holders of any Bank Obligation.
Each party expressly acknowledges the existence and validity of the Note Guaranties and the Bank Obligation Guaranty, agrees not to contest or challenge the validity of the Note Guaranties or the Bank Obligation Guaranty and agrees that the judicial or other determination of the invalidity of the Note Guaranties or the Bank Obligation Guaranty shall not affect the provisions of this Agreement.
The present amounts owing to Union Bank (the "Outstanding Bank Obligation") and Citicorp Dealer Finance are set forth on Schedule 2.5 hereto, together with a listing of all documents, agreements, promissory notes and other instruments relating to such matters.
Such representations and warranties have been or will be relied upon by the Administrative Agent and each Lender, regardless of any investigation made by the Administrative Agent or any Lender or on their behalf and notwithstanding that the Administrative Agent or any Lender may have had notice or knowledge of any Default at the time of any Loan, and shall continue in full force and effect as long as any Loan or any other Bank Obligation hereunder shall remain unpaid or unsatisfied.