EDAC definition
Examples of EDAC in a sentence
In furtherance of its Guaranty, and as an inducement to the Lender to enter into the Line of Credit Agreement and the Note, the EDAC executed and delivered to the Lender its Subordination Agreement dated August 20, 1997 (the "Subordination Agreement"), by virtue of which the EDAC agreed that any and all obligations owed to it by the Borrower were fully subordinated and payment thereof was deferred until the full and final payment in cash of all obligations owed to the Lender.
EDAC TECHNOLOGIES CORPORATION By:___________________________________ Name: Title: GROS-ITE, INDUSTRIES, INC.
The EDAC Loan Agreement provides for repayment of all or a portion of the outstanding balance of the EDAC Revolving Loan proceeds, together with interest thereon, from time to time.
The initial EDAC Revolving Loan Advance and future EDAC Revolving Loan Advances, if any, may be either evidenced by additional notes or recorded in an account on the books of the Lender as specified in SECTION 4.1 hereof.
Pursuant to the EDAC Loan Agreement, all or part of the Revolving Loan proceeds are permitted to be advanced from time to time (the "EDAC REVOLVING LOAN ADVANCES") and shall be secured by this Mortgage.
The EDAC Revolving Loan shall be evidenced by the promissory note annexed hereto and made a part hereof as SCHEDULE K (the "REVOLVING PROMISSORY NOTE").
If to the Company, to: EDAC Technologies Corporation ▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ Facsimile: (▇▇▇) ▇▇▇-▇▇▇▇ Attention: ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ with a copy (which will not constitute notice to the Company) to: ▇▇▇▇▇▇▇▇ & ▇▇▇▇ LLP ▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇ Facsimile: (▇▇▇) ▇▇▇-▇▇▇▇ Attention: ▇▇▇▇▇▇ ▇.
Since the EDAC Interim Balance Sheet Date, EDAC has not taken any action which, if taken subsequent to the execution of this Agreement and on or prior to the Closing Date, would constitute a breach of EDAC's agreements set forth in Section 7.1.
Except as set forth on Schedule 5.1(aa), each of EDAC and Gros-ite is presently and since January 1, 1998 has been in compliance in all material respects with all Governmental Requirements with respect to the Business.
Schedule 5.1(i) sets forth a complete list of all real property and interests in real property leased or subleased by EDAC and Gros-ite and used in the Business.