IBM Debt definition
Examples of IBM Debt in a sentence
Upon the satisfaction of the IBM Debt and until all of the Obligations have been satisfied, promptly upon Secured Party's request, Debtor shall, and shall cause its subsidiaries to, enter into one or more control agreements substantially in the form of Exhibit B hereto (each, a "Control Agreement") with the Banks at which Debtor and/or its subsidiaries maintain Deposit Accounts (as defined in Exhibit A hereto) to secure Debtor's Obligations.
So long as any portion of the Notes remain outstanding (whether or not any Event of Default under the Notes exists), Debtor shall not make any payments of principal, interest, penalties or any other amounts to any creditor of Debtor (or any other party) other than payments to (i) the Secured Party and (ii) IBM Lender with respect to the IBM Debt, provided that payments to IBM Lender shall be limited solely to Debtor's obligations as guarantor of the IBM Debt.
Very truly yours, IBM CREDIT LLC By: /s/ A▇▇▇ ▇▇▇▇▇▇ Name: A▇▇▇ ▇▇▇▇▇▇ Title: Vice President, Finance IBM Debt Offering The foregoing Agreement is hereby confirmed and accepted on the date specified in Schedule I hereto.
Notwithstanding the foregoing, if, upon satisfaction of the IBM Debt, the Debtor (or any of its subsidiaries) obtains new asset-based financing as may be permitted in accordance with SECTION 3.4, the Debtor or such subsidiaries, as the case may be, shall be permitted to grant control over the Deposit Accounts to the lender providing such asset-based financing to the extent (and only to the extent) necessary to obtain and maintain such new asset-based financing.
INTERNATIONAL BUSINESS MACHINES CORPORATION By: /s/ R▇▇▇▇▇ ▇▇▇ ▇▇▇▇ Name: R▇▇▇▇▇ ▇▇▇ ▇▇▇▇ Title: Vice President and Treasurer IBM Debt Offering The foregoing Agreement is hereby confirmed and accepted on the date specified in Schedule I hereto.
On Monday of each week, Parent shall provide to Agent (a) a certificate signed by the Chief Financial Office of Parent, certifying as to (i) the outstanding principal balances of the I▇▇▇▇▇ Micro Debt, the GE Debt, and the IBM Debt in each case as of such Monday; (ii) whether Parent has missed any required payments in respect of each such Indebtedness; and (b) any and all additional documentation in respect of each such Indebtedness that is reasonably requested by Agent.
Very truly yours, IBM CREDIT LLC By: Name: [ ] Title: [ ] IBM Debt Offering The foregoing Agreement is hereby confirmed and accepted on the date specified in Schedule I hereto.
Very truly yours, INTERNATIONAL BUSINESS MACHINES CORPORATION By: /s/ R▇▇▇▇▇ ▇▇▇ ▇▇▇▇ Name: R▇▇▇▇▇ ▇▇▇ ▇▇▇▇ Title: Vice President and Treasurer IBM Debt Offering The foregoing Agreement is hereby confirmed and accepted on the date specified in Schedule I hereto.
Notwithstanding the foregoing, if, upon satisfaction of the IBM Debt, the Debtor (or any of its subsidiaries) obtains new asset-based financing as may be permitted in accordance with Section 3.4, the Debtor or such subsidiaries, as the case may be, shall be permitted to grant control over the Deposit Accounts to the lender providing such asset-based financing to the extent (and only to the extent) necessary to obtain and maintain such new asset-based financing.
Very truly yours, INTERNATIONAL BUSINESS MACHINES CORPORATION By: /s/ R▇▇▇▇▇ Del Bene Name: R▇▇▇▇▇ Del Bene Title: Vice President and Treasurer IBM Debt Offering The foregoing Agreement is hereby confirmed and accepted on the date specified in Schedule I hereto.