Examples of Existing Lenders in a sentence
We [●] (the Existing Lender) and [●] (the New Lender) agree to the Existing Lender and the New Lender novating all the Existing Lender's rights and obligations referred to in the Schedule on and from the Effective Date in accordance with Clause 26.3 (Procedure for novations) of the Credit Agreement and clause 9.3 (Transfers by the Lenders) of the Security Deed.
The Borrowers have requested that the Existing Lenders and the Administrative Agent amend and restate the Existing Credit Agreement and the Lenders establish (a) a floor plan line of credit facility in an aggregate amount of up to $525,000,000.00 and (b) a revolving credit facility in an aggregate amount of up to $50,000,000.00 in favor of the applicable Borrowers, in each case on the terms and conditions of this Agreement.
Pursuant to the Existing Credit Agreement, the Existing Lenders made a revolving credit facility available to the Borrower to be used for the purchase or refinance of certain engines and equipment and for working capital and general corporate purposes.
Subject to the terms and conditions of this Agreement, the Existing Lenders and the Administrative Agent are willing to amend and restate the Existing Credit Agreement, and the Lenders, to the extent of their respective Commitments as defined herein, are willing severally to establish the requested floor plan line of credit facility and revolving credit facility, in favor of the applicable Borrowers, in each case on the terms and conditions of this Agreement.
Pursuant to the Existing Credit Agreement, the Existing Lenders made a revolving credit facility available to Borrower to be used for the purchase or refinance of certain engines and equipment and for working capital and general corporate purposes.