Examples of Benefited Creditors in a sentence
As credit support for the Aggregate Obligations, on or before the Closing Date, Macerich Partnership, MAC, and the other Pledgors shall each execute and deliver to the Collateral Agent, a Pledge Agreement, pursuant to which each of them shall pledge to the Collateral Agent, for the ratable benefit of the Benefited Creditors, all of its direct and indirect ownership interest in the Subsidiary Entities identified therein.
Each Lender agrees promptly to (i) notify the Borrower Parties, the Administrative Agent and the Collateral Agent after any such set-off and application made by such Lender; provided, however, that the failure to give such notice shall not affect the validity of such set-off and application and (ii) pay such amounts that are set-off to the Collateral Agent for the ratable benefit of the Benefited Creditors.
As credit support for the Aggregate Obligations, on or before the Closing Date (1) MAC shall execute and deliver to the Collateral Agent, for the benefit of the Benefited Creditors, the REIT Guaranty, and (2) the Affiliate Guarantors shall each execute and deliver to the Collateral Agent, for the benefit of the Benefited Creditors, an Affiliate Guaranty.
Each Lender and Issuing Lender agrees promptly to (i) notify the Borrower Parties, the Administrative Agent and the Collateral Agent after any such set-off and application made by such Lender or Issuing Lender; provided, however, that the failure to give such notice shall not affect the validity of such set-off and application and (ii) pay such amounts that are set-off to the Collateral Agent for the ratable benefit of the Benefited Creditors.
In the event of a breach by the Advisor in the performance of any of the terms of this Agreement, the Administrative Agent may demand specific performance of this Agreement and seek injunctive relief and may exercise any other remedy available at law or in equity, it being recognized that the remedies of the Administrative Agent and the Benefited Creditors at law may not fully compensate the Administrative Agent and the Benefited Creditors for the damages they may suffer in the event of a breach hereof.
See the appendix on page 30 for a review of the progress to date.
Benefited Creditors shall mean, with respect to the Company’s obligations pursuant to Section 11 [Guaranty], collectively, the Administrative Agent, the Arranger, and the Lenders, and the respective successors and assigns of each of the foregoing.
These memos and notices willbe sent to your MCLA e-mail account and posted in common areas in each residence area.
The Lenders party hereto and the Borrower have agreed to amend the Credit Agreement and DBTCA has agreed to act as administrative agent on behalf of the Lenders and as collateral agent on behalf of the Benefited Creditors on the terms and subject to the conditions set forth herein and in the other Loan Documents.
Each Lender and the Issuing Lender agrees promptly to (i) notify the Borrower Parties, the Administrative Agent and the Collateral Agent after any such set-off and application made by such Lender or Issuing Lender; provided, however, that the failure to give such notice shall not affect the validity of such set-off and application, and (ii) pay such amounts that are set-off to the Collateral Agent for the ratable benefit of the Benefited Creditors.