Collateral Providers definition
Examples of Collateral Providers in a sentence
In the event that Agent receives such a notice, Agent shall give notice thereof to Cash Collateral Providers.
Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by Required Cash Collateral Providers; provided, that, unless and until Agent shall have received such directions, Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable in the best interests of Cash Collateral Providers.
All payments of principal, interest, fees and other amounts payable hereunder, or under any of the Other Documents shall be made directly to the applicable Cash Collateral Providers at the applicable Payment Offices not later than 1:00 p.m. on the due date therefor in Dollars in federal funds or other funds immediately available to such Cash Collateral Provider in accordance with wire instructions provided to the Borrowing Agent by such Cash Collateral Provider.
Each Loan Party and each Cash Collateral Provider hereby authorizes Agent to make appropriate announcements of the financial arrangement entered into among Loan Parties, Agent and Cash Collateral Providers, including announcements which are commonly known as tombstones, in such advertising, print media, and promotional materials (including, without limitation, on any of the Agent’s websites) and to such selected parties as Agent shall in its sole and absolute discretion deem appropriate.
Borrowers shall pay to Agent, for the ratable benefit of Cash Collateral Providers, a closing fee of $2,750,000, which such fee shall be due and payable, and fully-earned and non-refundable under any circumstances upon the execution and delivery of this Agreement by all parties hereto.
To the extent Agent receives financial statements required under Sections 9.7, 9.8, 9.9, 9.12 and 9.13 hereof from any Loan Party pursuant to the terms of this Agreement, such Loan Party shall also promptly deliver such documents and information to Cash Collateral Providers.
Borrowers shall pay to Agent, for the ratable benefit of the Cash Collateral Providers, fees on all outstanding Cash Collateral (the “Cash Collateral Commitment Fees”) in arrears on the last day of each fiscal quarter, provided that all accrued and unpaid Cash Collateral Commitment Fees shall be due and payable at the end of the Term.
Each of Cash Collateral Providers agrees that it shall not, without the prior written consent of Agent, and that it shall, to the extent it is lawfully entitled to do so, upon the request of Agent, set off against the Obligations, any amounts owing by such Cash Collateral Provider to any Loan Party or any deposit accounts of any Loan Party now or hereafter maintained with such Cash Collateral Provider.
Each Borrower expects to derive benefit (and the board of directors or other governing body of each such Borrower have determined that it may reasonably be expected to derive benefit), directly and indirectly, from the credit extended by the Cash Collateral Providers to the Borrowers hereunder, both in their separate capacities and as members of the group of Companies.
The submission of this Amendment to the parties or their agents or attorneys for review or signature does not constitute a commitment by Agent or the Cash Collateral Providers to make any changes to the terms of the Reimbursement Agreement and this Amendment shall have no binding force or effect until all of the conditions to the effectiveness of this Amendment have been satisfied as set forth herein.