Del-Tin definition
Examples of Del-Tin in a sentence
The foregoing Financing Statement relates to a Lien granted by Del-Tin in connection with obligations under that certain Amended and Restated Letter of Credit Agreement dated as of July 21, 2011 by and among Del-Tin, the lenders from time to time a party thereto and SunTrust Bank, as Administrative Agent.
Deltic waives any and all notice of the creation, renewal, extension or accrual of any of the Del-Tin Credit Party Obligations and notice of or proof of reliance of by the Agent or any Lender upon this Guaranty or acceptance of this Guaranty.
All Base Rate Loans shall accrue interest at the ------------- Adjusted Base Rate and all Eurodollar Loans shall accrue interest at the Adjusted Eurodollar Rate; provided, however, with respect to -------- ------- Del-Tin Revolving Loans which accrue interest at the Adjusted Eurodollar Rate, Del-Tin shall pay such interest to the extent it accrued at the Eurodollar Rate plus .20% per annum and Deltic shall pay the balance of such interest.
Notwithstanding the foregoing, Del-Tin Assets shall in no event include Excluded Del-Tin Assets.
Deltic will use proceeds of the Revolving Loans solely (a) to refinance existing indebtedness, (b) for working capital, capital expenditures, acquisitions and other lawful corporate purposes and (c) to finance Deltic's obligations with respect to Del-Tin.
In the event of any drawing under any Letter of ------------- Credit, the Issuing Lender will promptly notify Deltic or Del-Tin, as the case may be.
Seller anticipates entering into discussions with Deltic regarding the buy-sell right set forth in the Del-Tin Operating Agreement, which may result in TIN’s ownership of the Deltic JV Interest or Deltic’s ownership of the TIN JV Interest.
If such Lender does not pay such corresponding amount forthwith upon the Agent's demand therefor, the Agent will promptly notify Deltic or Del-Tin, as the case may be, and Deltic or Del-Tin, as the case may be, shall immediately pay such corresponding amount to the Agent.
Within 90 days after the Deferred Del-Tin Closing Date, Purchaser shall prepare and deliver to Seller a statement (the “Del-Tin Closing Date Statement”), setting forth the Del-Tin Net Working Capital as of the close of business on the Deferred Del-Tin Closing Date (the “Del-Tin Closing Net Working Capital”).
Purchaser acknowledges and agrees that as of the date of this Agreement, (i) the TIN JV Interest constitutes a 50% membership interest in Del-Tin, and the Deltic JV Interest constitutes a 50% membership interest in Del-Tin, (ii) all of the Del-Tin Assets constitute Excluded Assets, (iii) Del-Tin is not a member of the Seller Group and (iv) the Del-Tin Business shall not constitute part of the Business.