Crestmark definition

Crestmark is defined in the preamble to this Agreement.
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Crestmark means as defined in the preamble to this Agreement.
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Crestmark means Crestmark Bank, a Michigan banking corporation.
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Examples of Crestmark in a sentence

  • Crestmark is the owner of all deposits in the Lockbox Account, and has no duty as to collection or protection of funds as long as it is not grossly negligent or commits actual fraud.

  • Borrower recognizes that at no time is Crestmark its agent in dealing with the Collateral, but Crestmark acts only in its own interest.

  • Crestmark may assign this Agreement and its rights under the Loan Documents and Borrower will make payments to any such assignee if so directed.

  • The Lockbox Bank will process all deposits and Borrower has no right to the Lockbox Account, it belongs to Crestmark.

  • Crestmark shall have all other rights and remedies not inconsistent herewith as provided under the UCC, by law, or in equity.

  • Crestmark does not have to incur its own expenses in realizing upon the Collateral, but all the expenses are for the account of Borrower.

  • Borrower makes the following representations and warranties to Crestmark and such representations and warranties must be true at all times until the Obligations are paid in full.

  • Borrower agrees that under no circumstances is Crestmark the agent or representative of Borrower.

  • The Collateral also includes all monies on deposit with Crestmark, or on deposit in the Lockbox Account.

  • This Agreement is binding upon and is for the benefit of Borrower and Crestmark, and their respective successors and assigns.


More Definitions of Crestmark

Crestmark see preamble.
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Crestmark has the meaning ascribed to such term in Section 5.9 hereof.
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Related to Crestmark

  • Bank is defined in the preamble hereof.

  • The Bank means the Bank of India;

  • Secured Party as used in this Annex means only Party B, (b) the term “Pledgor” as used in this Annex means only Party A, (c) only Party A makes the pledge and grant in Paragraph 2, the acknowledgement in the final sentence of Paragraph 8(a) and the representations in Paragraph 9.

  • CoBank means CoBank, ACB.

  • HSBC means HSBC Bank USA, National Association.

  • Payee means a natural or legal person who is the intended recipient of funds which have been the subject of a payment transaction;

  • Borrower as defined in the preamble hereto.

  • the Agent means the estate agency described at paragraph 5 of the Schedule;

  • Franchisor means Marriott International, Inc.

  • TCA means the Irish Taxes Consolidation Act, 1997, as amended;

  • GECC means General Electric Capital Corporation.

  • Borrowers each has the meaning specified in the introductory paragraph hereto.

  • CPS means Consumer Portfolio Services, Inc., a California corporation and its successors.

  • Retailer means every person engaged in the business of making sales at retail, or for distribution,

  • Lock-Box Bank means any of the banks or other financial institutions holding one or more Lock-Box Accounts.

  • Merchant means a person who deals in goods of the kind or otherwise by his occupation holds himself out as having knowledge or skill peculiar to the practices or goods involved in the transaction or to whom such knowledge or skill may be attributed by his employment of an agent or broker or other intermediary who by his occupation holds himself out as having such knowledge or skill.

  • Depository Bank means the Institution that issues a specific Depositary Receipt on behalf of the underlying company. The Depository Bank maintains a holding of Stock in the Underlying on which it is able to issue Depositary Receipts;

  • Reseller is a category of CLECs who purchase the use of Finished Services for the purpose of reselling those Telecommunications Services to their End User Customers.

  • Licensor means the copyright owner or entity authorized by the copyright owner that is granting the License.

  • The Borrower has advised the Banks that the Borrower has entered into an Agreement and Plan of Merger and Reorganization, dated as of February 10, 2000 (the "Merger Agreement"), among the Borrower, Opticare Health Systems, Inc. (the "Parent"), and OC Acquisition Corp., a wholly-owned subsidiary of the Parent ("Merger Sub"), pursuant to which the parties intend to merge Merger Sub with and into the Borrower subject to the terms and conditions thereof which include, among other things, restructuring the Obligations owing to the Banks on terms and conditions mutually agreed upon by the Borrower and the Banks. While the Borrower and the Banks have initiated discussions and due diligence concerning the Merger and any proposed restructuring of the Obligations, the Borrower acknowledges that the Banks have not consented to the Merger nor have the Banks agreed to any terms and conditions relating to any restructuring of the Obligations. In the meantime, however, the Borrower intends to continue to sell the remaining physician practice management groups operated by the Borrower and its Subsidiaries (collectively being referred to herein as the "PPM Businesses") and use a portion of the proceeds from the sale of the PPM Businesses to meet its reasonable and necessary operating expenses. To afford the Borrower an opportunity to proceed with the transactions described above, the Borrower has requested that (i) the Banks extend the temporary waiver period provided for in Sections 2.1 and 2.2 of that certain Seventh Amendment and Waiver to Credit Agreement dated as of December 10, 1999, among the Borrower, the Banks, and the Agent (the "Seventh Amendment") (as further amended, in part, by a December 30, 1999, letter agreement, a February 29, 2000, letter agreement, a March 24, 2000, letter agreement, an April 14, 2000, letter agreement, a May 5, 2000, letter agreement, and a May 19, 2000, letter agreement, in each case between the Borrower, the Banks and the Agent) and, in addition, that the Banks temporarily waive any non-compliance by the Borrower as of December 31, 1999, and as of March 31, 2000, with Sections 8.8 (Total Funded Debt/Adjusted EBITDA Ratio), 8.10 (Interest Coverage Ratio), and 8.11 (Debt Service Coverage Ratio) of the Credit Agreement and the Borrower's non-compliance with Section 8.5(b) of the Credit Agreement with respect to the timely delivery of the Borrower's March 31, 2000, financial statements, in each case to the earlier of June 9, 2000, or the termination of the Merger Agreement pursuant to its terms (the earlier of such dates being referred to herein as the "Waiver Termination Date"), (ii) Bank of Montreal extend the Bridge Loan Period from June 2, 2000, to the Waiver Termination Date, and (iii) postpone the due date for the payment of principal, interest and unused commitment fees otherwise due on or before June 2, 2000, to the Waiver Termination Date. By signing below, the Banks (including Bank of Montreal with respect to the Bridge Loan Commitment) hereby agree to extend the waiver period provided in Sections 2.1 and 2.2 of the Seventh Amendment from June 2, 2000, to the Waiver Termination Date, temporarily waive any non-compliance by the Borrower as of December 31, 1999, and March 31, 2000, with Sections 8.8 (Total Funded Debt/Adjusted EBITDA Ratio), 8.10 (Interest Coverage Ratio), and 8.11 (Debt Service Coverage Ratio) of the Credit Agreement and the Borrower's non-compliance with Section 8.5(b) of the Credit Agreement with respect to the timely delivery of the Borrower's March 31, 2000, financial statements through the period ending on the Waiver Termination Date, agree to extend the Bridge Loan Period to the Waiver Termination Date, and agree to postpone the due date for the payment of principal, interest, and unused commitment fees otherwise due on or before June 2, 2000, to the Waiver Termination Date, provided that:

  • Program Agent means Citicorp North America, Inc., as Program Agent under the Purchase Agreement, and its successors and assigns in such capacity.

  • Developer means the legal or beneficial owner or owners of a lot or of any land proposed to be included in a proposed development, including the holder of an option or contract to purchase, or other person having an enforceable proprietary interest in such land.

  • CPC means the Central Products Classification as set out in Statistical Office of the United Nations, Statistical Papers, Series M, N° 77, CPC prov, 1991; and

  • Maker means a person who signs or is identified in a note as a person undertaking to pay.

  • Collateral Agent as defined in the preamble hereto.

  • Franchisee means a person to whom a franchise is granted.