Bridge Agent definition
Examples of Bridge Agent in a sentence
On the Initial Borrowing Date, each Credit Party, the Collateral Agent (for and on behalf of the Secured Creditors) and the Bridge Agent (for and on behalf of the Bridge Secured Creditors) (and the trustee for any issue of Permitted Second Lien Notes then outstanding) shall have duly authorized, executed and delivered the Intercreditor Agreement, and the Intercreditor Agreement shall be in full force and effect.
The proceeds in respect of any Collateral, whether in the form of cash, securities, insurance proceeds, in kind or otherwise, shall first be distributed to or set aside for the Bridge Agent for the benefit of the Bridge Lenders in an amount equal to the aggregate amount owed to the Bridge Agent and the Bridge Lenders under the Senior Secured Credit Agreement.
Each Buyer hereby (a) appoints the Bridge Agent, as the collateral agent hereunder and under the other Security Documents (in such capacity, the “Collateral Agent”), and (b) authorizes the Collateral Agent (and its officers, directors, employees and agents) to take such action on such Buyer’s behalf in accordance with the terms hereof and thereof.
As of the date hereof, Prencen Lending owns 100% of the Obligations and jointly in its capacity as the Bridge Lender and the Bridge Agent has the authority to terminate the MarNan and ▇▇▇▇ Agreements and to execute and deliver this Agreement and the other Transaction Documents to which it is a party.
Bridge Agent and Revolving Agent agree to give notice to the other and to the Collateral Agent of the acceleration or demand for payment of any amounts due under the Credit Agreement, the Senior Secured Credit Agreement and the Collateral Documents, as the case may be.