Examples of Initial Lenders in a sentence
I have assumed the due execution and delivery, pursuant to due authorization, of the Credit Agreement by the Initial Lenders and the Agent.
On April 26, 2022, the parties to the New Credit Agreement entered into Amendment No. 1 to the New Credit Agreement (the “First Amendment”) with the Initial Lenders and JPMorgan Chase Bank, N.A. as administrative agent, which allows for additional Restricted Payments (as defined in the First Amendment) using specified funding sources.
On July 29, 2022, the parties to the New Credit Agreement entered into Amendment No. 2 to the New Credit Agreement (the “Second Amendment”) with the Initial Lenders and Goldman Sachs Bank USA (collectively, the “Lenders”) and JPMorgan Chase Bank, N.A. as administrative agent, which increased the New Revolving Credit Facility to $215.0 million and converted the New Credit Facility interest rate index from Borrower (as defined in the New Credit Agreement) option LIBOR to SOFR.
The financial institutions party hereto, which constitute the Majority Initial Lenders (as defined in the Commitment Letter) hereby agree, in consultation with the Borrower, that any Bank Allocation (as defined in the Fee Letter (as defined in the Commitment Letter)) shall be made by each financial institution party to the Commitment Letter (or its affiliates) in its sole discretion.
The Arrangers agree to use their best efforts, but without any obligation to underwrite a syndication, to arrange a syndicate of lenders for the balance of the financing for the Transaction (it being understood that none of the Arrangers or the Initial Lenders, individually or in the aggregate, have agreed to underwrite the Senior Facilities).