Borrower Creditor definition

Borrower Creditor is defined in Section 12.07.
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Examples of Borrower Creditor in a sentence

  • In the event that Creditor chooses to convert outstanding principal and accrued interest into Common Stock of the Borrower, Creditor shall give written notice to the Borrower of such anticipated conversion no less than fifteen (15) business days prior to the date of conversion.

  • The foregoing shall not limit the right of any such Person (each, a “Borrower Creditor”) right to file any claim in or otherwise take any action with respect to any insolvency proceeding that was instituted by any Person other than such Borrower Creditor, to the extent such Borrower Creditor has not otherwise caused the institution of such proceeding.

  • All claims against the Borrower of any Borrower Creditor that has instituted or has caused the institution of such a proceeding shall be subordinated to the claims of each Borrower Creditor that has not instituted or caused the institution of such a proceeding, and the foregoing agreement shall constitute a “subordination agreement” within the meaning of Section 510 of the Bankruptcy Code.

  • The Borrower Creditor shall notify the Guarantor promptly of any such set-off and the application made by such Borrower Creditor, provided that the failure to give such notice shall not affect the validity of such set-off and application.

  • This Guarantee shall be binding upon the successors and assigns of the Guarantor and shall inure to the benefit of each Borrower Creditor and each Borrower Creditor's successors, indorsees, transferees and assigns.

  • This Guarantee represents the agreement of the Guarantor with respect to the subject matter hereof and there are no promises or representations by any Borrower Creditor relative to the subject matter hereof not reflected herein.

  • The rights of each Borrower Creditor under this Section are in addition to other rights and remedies (including, without limitation, other rights of set-off) which such Borrower Creditor may have.

  • A waiver by the Agent, any other Credit Agreement Creditor, either Trustee, any Holder or any other Borrower Creditor of any right or remedy hereunder on any one occasion shall not be construed as a bar to any right or remedy which the Agent, such other Credit Agreement Creditor, either Trustee, such Holder or such other Borrower Creditor would otherwise have on any future occasion.

  • No failure to exercise, nor any delay in exercising, on the part of the Agent, any other Credit Agreement Creditor, either Trustee, any Holder or any other Borrower Creditor, any right, power or privilege hereunder shall operate as a waiver thereof.

  • The dissolution or termination of Borrower’s existence as a going business, the insolvency of Borrower, the appointment of a receiver for any part of Borrower’s property, any assignment for the benefit of creditors, any type of creditor workout, or the commencement of any proceeding under any bankruptcy or insolvency laws by or against Borrower, Creditor or Forfeiture Proceedings.

Related to Borrower Creditor

  • Lender Creditors shall have the meaning provided in the recitals of this Agreement.

  • Borrower Credit Agreement Obligations the collective reference to the unpaid principal of and interest on the Loans and Reimbursement Obligations and all other obligations and liabilities of the Borrower (including, without limitation, interest accruing at the then applicable rate provided in the Credit Agreement after the maturity of the Loans and Reimbursement Obligations and interest accruing at the then applicable rate provided in the Credit Agreement after the filing of any petition in bankruptcy, or the commencement of any insolvency, reorganization or like proceeding, relating to the Borrower, whether or not a claim for post-filing or post-petition interest is allowed in such proceeding) to the Administrative Agent or any Lender, whether direct or indirect, absolute or contingent, due or to become due, or now existing or hereafter incurred, which may arise under, out of, or in connection with, the Credit Agreement, this Agreement, or the other Loan Documents, or any Letter of Credit, or any other document made, delivered or given in connection therewith, in each case whether on account of principal, interest, reimbursement obligations, fees, indemnities, costs, expenses or otherwise (including, without limitation, all fees and disbursements of counsel to the Administrative Agent or to the Lenders that are required to be paid by the Borrower pursuant to the terms of any of the foregoing agreements).

  • Lender credit card means a credit card issued by a lender.

  • Bank Credit Agreement means the Credit Agreement dated as of May 9, 2005 by and among the Company, certain Subsidiaries of the Company named therein, the Administrative Agent, and the Bank Lenders and other financial institutions party thereto, as amended, restated, joined, supplemented or otherwise modified from time to time, and any renewals, extensions or replacements thereof, which constitute the primary bank credit facility of the Company and its Subsidiaries.

  • Canadian Credit Party means Borrower and each other Credit Party that (i) is organized under the laws of Canada or any province or territory thereof, (ii) carries on business in Canada, or (iii) has any title or interest in or to material property in Canada.