Examples of Former Lender in a sentence
The Substitute Lender shall assume the rights and obligations of the Former Lender under this Agreement.
For certainty, any Financial Instrument Obligations under Financial Instruments entered into with a Former Lender or an Affiliate thereof after the Former Lender has ceased to be a Lender shall not be secured by the Security.
The New Vehicle Floorplan Borrowers shall use the proceeds of the New Vehicle Swing Line Loans to finance Eligible New Vehicles (including to refinance Former Lender Loans).
In the event a Former Lender is replaced by a Substitute Lender in accordance with this Section 10.13(a), the Borrower and the Substitute Lender shall pay to the Former Lender (or the Administrative Agent pursuant to Section 10.6) all amounts that would have been required to be paid pursuant to Section 2.25 had such Former Lender been replaced in accordance with such provisions.
Furthermore, prior to the Facility Termination Date, any Former Lender or Former Qualified Affiliate will only be a Finance Party solely for the purpose of sharing rateably in the guarantee provided by the Guarantors hereunder and Security and any proceeds of realization related thereto and will have no other rights or benefits of a Finance Party under this Agreement or any other Credit Document.