BR Loan definition
Examples of BR Loan in a sentence
Borrower has the power and authority to execute and deliver this Amendment and to perform the terms and conditions of the BR Loan Agreement and the other Loan Documents (as defined in the BR Loan Agreement), as amended and modified by this Amendment.
The Borrowing Base described in the BR Loan Agreement and in the Borrowing Base Agreement is hereby modified to delete all references to Inventory and Equipment.
Borrower further ratifies and affirms the BR Loan Agreement, as amended previously and as amended and restated by this Amended and Restated Loan Agreement; agrees that there is no change or modification thereto, except as expressly provided herein; and agrees that the BR Loan Agreement, as amended previously and as amended and restated hereby, shall be and constitute the Loan Agreement, with the same effect as if this Agreement had been made on the date of the BR Loan Agreement, and not a novation thereof.
Except as expressly amended hereby, the BR Loan Agreement shall be and remain in full force and effect in accordance with its terms.
The execution and delivery of this Amendment by Borrower and the performance of the BR Loan Agreement and the other Loan Documents, as amended and modified by this Amendment, do not and will not violate any law, rule or regulation, or constitute a breach of the articles of incorporation, bylaws or corporate resolutions of Borrower or any agreement to which the Borrower is a party or by which its assets are bound.
Borrower hereby acknowledges that it is indebted to the Bank pursuant to the BR Loan Agreement in accordance with the terms thereof, as amended prior to the date hereof, and that there exists no defense, offset to, or claim in diminution or avoidance of, any of its liabilities and obligations pursuant to such BR Loan Agreement, as so amended.
The BR Loan Agreement and the other Loan Documents, as amended and modified by this Amendment, constitute legal, valid and binding obligations of Borrower, enforceable in accordance with their respective terms, subject to bankruptcy, insolvency, reorganization, and similar laws and other law generally affecting the enforceability of creditors' rights and to general principles of equity.
Execute and deliver such further instruments, and take such further action as Bank may reasonably request, in each case to further effect the purposes of the BR Loan Agreement and the other Loan Documents, as modified by this Amendment.
Except as set forth in the Priority of Payments and Article XIII of this Indenture, the Secured Debt is secured by the Grant equally and ratably without prejudice, priority or distinction between any Note or Class B-R Loan on one hand and any other Note or Class B-R Loan on the other by reason of difference in time of issuance or otherwise.
At such time, credit shall be available under the Revolver and the Acquisition Line in the amounts and for the periods set forth in the BR Loan Agreement, as modified herein.