CNUL definition
Examples of CNUL in a sentence
For certainty, CNUL and CNR shall each have the right to make a Top-Up Payment at any time.
APMC may, within ten (10) Banking Days of receipt of such notice, exercise its right of first refusal by delivering a notice to CNUL that APMC will acquire such interest in the Subordinated Debt Facilities on the terms set out in CNUL’s notice to APMC, in which event a valid and enforceable agreement of sale and purchase shall be deemed to have arisen between APMC and CNUL for the sale of CNUL’s interest in the Subordinated Debt Facilities.
Notwithstanding Section 12.8 or anything else contained herein, but subject to Schedule “D” hereto, CNUL hereby grants APMC an option to, at any time, purchase from CNUL such amount of the Subordinated Debt Facilities held by CNUL which would result in APMC (together with any assignees of APMC hereunder) holding up to 75% of the Subordinated Debt Facilities and the Aggregate Obligations for consideration equal to the principal amount of and accrued interest on the purchased Subordinated Debt Facilities.
Notwithstanding anything else contained in the SDAs, CNUL shall not assign any CNUL Assumed Loan except pursuant to APMC’s purchase of such CNUL Assumed Loan pursuant to this Schedule and, for greater certainty, the NWULP option contemplated in Section 12.6 of the SDAs, the CNUL option contemplated in Section 12.7 of the SDAs and the assignment and rights of first refusal provisions in Section 12.8 of the SDAs shall not apply to CNUL Assumed Loans and the CNUL Assumed Loan shall be held by CNUL.
On the CNUL Assignment Date, APMC will transfer the APMC Assumed Loan to CNUL and execute an Assignment Agreement in respect of such transfer and such Loan will no longer be an APMC Assumed Loan but shall continue to be a Loan.
If acceleration· of the time for payment of any amount payable by CNUL in respect of the Obligations is stayed upon the insolvency, bankruptcy, arrangement or reorganization of CNUL or any moratorium affecting the payment of the Obligations, all such amounts that would otherwise be subject to acceleration shall nonetheless be payable by the Guarantor hereunder forthwith on demand by the Collateral Agent.
The Funding Obligation is unconditional for CNUL except for the CNUL Funding Conditions and the Drawdown conditions set out in Article 6.
Each of APMC and CNUL commits to fund its Class B/C Share of each Advance under the Class C Subordinated Debt Facility (the “Class C Obligation”).
Such notice shall be deemed to be an irrevocable offer by CNUL to APMC to sell the Subordinated Debt Facilities to APMC, upon the terms contained in such notice, subject nevertheless to such amendments as may be agreed to by the Lenders.
If any or all of the Guaranteed Obligations are not duly paid or performed by CNUL and are not recoverable under Section 4.1, or the Beneficiary is not indemnified under Section 4.2, in each case, for any reason whatsoever, such will, as a separate and distinct obligation, be recoverable by the Beneficiary from CNRL as primary obligor.