Laars definition

Laars means Laars, Inc., a Delaware corporation, together with its successors and assigns.

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Laars or a "Debtor"), Jandy Industries, Inc., a California corporation ("Jandy" or a "Debtor"), Water Pik Technologies, Inc., a Delaware corporation ("Holdings" and together with Waterpik, Laars and Jandy, collectively, the "Debtors") and The Chase Manhattan Bank, a New York banking corporation having an office at 600 ▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, ▇▇ agent (referred to herein as the "Secured Party") for (i) the lenders (the "Lenders") named in Schedule 2.01 of the Restated Credit Agreement dated as of the date hereof, among the Debtors, the guarantors named therein (the "Guarantors"), the Lenders and the Secured Party (as amended, modified or supplemented from time to time in accordance with its terms, the "Credit Agreement") and (ii) for itself as issuer of the Letters of Credit.

Laars shall have the meaning assigned to such term in the preamble to this Agreement.

Examples of Laars in a sentence

• Transfer and Assumption Agreement, and shall contribute to Laars Inc.

• TRANSFER AND ASSUMPTION AGREEMENT means the Asset Transfer and Liabilities Assumption Agreement, dated as of the date hereof, between Water Pik and Laars Inc.

• Such notice shall specify (w) whether the Loans then being requested are to be for the account of Laars or Water Pik and are to be Alternate Base Loans or Eurodollar Loans, it being agreed that all Loans made on the Closing Date shall be Alternate Base Loans, (x) the date of such borrowing (which shall be a Business Day) and amount thereof and (y) if such Loans are to be Eurodollar Loans, the Interest Period with respect thereto.

• The boiler is a Teledyne Laars natural draft boiler (Model HH1825) with maximum input capacity of 1,825 MBH and minimum input capacity of 456 MBH.

• This is an unconditional waiver of any rights and defenses Laars may have because Water Pik's obligation is secured by real property.

• The hot water is generated by (2) gas‐fired Laars Mighty Therm boilers, each with 500 MBH input capacity.

• This is an unconditional waiver of any rights and defenses Water Pik may have because Laars' obligation is secured by real property.

• Laars assumes the responsibility for being and keeping itself informed of the financial condition of Water Pik and of all other circumstances bearing upon the risk of nonpayment of the indebtedness secured hereby which diligent inquiry would reveal, and agrees that Lender shall have no duty to advise Laars of information known to it regarding such condition or circumstances.

• ISDA (International Swap Dealers Association) Master Agreement dated December 21, 2001 between Bank of America, N.A. ("Party A"), and Laars, Inc.

• Laars, Inc., a Delaware corporation Authorized stock consisting of 1,000 shares of Common Stock, $.01 par value 1,000 shares of Common Stock issued to Water Pik Technologies, Inc.

More Definitions of Laars

Laars or a "Borrower" and together with Water Pik, the "Borrowers"), Water Pik Technologies, Inc., a Delaware corporation ("Holdings"), Jandy Industries, Inc., a California corporation ("Jandy") (the Borrowers, Holdings and Jandy are each sometimes referred to herein as a "Grantor" and collectively as the "Grantors"), and The Chase Manhattan Bank, a New York banking corporation, as agent ("Agent") for (i) the lenders (the "Lenders") named in Schedule 2.01 of the Restated Credit Agreement dated as of the date hereof, among the Grantors, the guarantors named therein (the "Guarantors"), the Agent and the Lenders (as amended, modified or supplemented from time to time in accordance with its terms, the "Credit Agreement") and (ii) itself as issuer of the Letters of Credit. The Agent and the Lenders have agreed to extend Loans and certain other financial accommodations, including, without limitation, the issuance of the Letters of Credit to the Borrowers pursuant to, and subject to the terms and conditions of, the Credit Agreement. The obligation of the Lenders to extend such Loans and of the Agent to issue the Letters of Credit under the Credit Agreement is conditioned on the execution and delivery by the Grantors of a security agreement in the form hereof to secure the following (collectively, the "Secured Obligations": (i) all Obligations (such Obligations to include, without limitation, the due and punctual payment and performance of (a) the principal of and interest on the Loans, when and as due, whether at maturity, by acceleration, upon one or more dates set for prepayment or otherwise, (b) Indebtedness at any time and from time to time under the Letters of Credit], (c) all obligations of the Grantors at any time and from time to time under this Agreement and (e) all other obligations of the Grantors and Guarantors at any time and from time to time under the Credit Agreement and the other Loan Documents) and (ii) all obligations of Holdings under the Guaranty. Accordingly, the Grantors and the Agent hereby agree as follows:

Laars or a "Borrower" and together with Water Pik, the "Borrowers"), the Guarantor, the Lenders named therein, and the Agent (as amended, modified or supplemented from time to time in accordance with its terms, the "Credit Agreement"; capitalized terms used herein and not otherwise defined herein shall have the meanings attributed thereto in the Credit Agreement) and (ii) itself as issuer of the Letters of Credit. The Agent and the Lenders have agreed to extend Loans and certain other financial accommodations to, including, without limitation, the issuance of the Letters of Credit for the account of the Borrowers pursuant to, and subject to the terms and conditions of, the Credit Agreement. The obligation of the Lenders to extend such Loans and of the Agent to issue the Letters of Credit under the Credit Agreement is conditioned on the execution and delivery by the Guarantor of a guarantee in the form hereof of the Obligations (such Obligations to include, without limitation, the due and punctual payment and performance of (a) the principal of and interest on the Loans, when and as due, whether at maturity, by acceleration, upon one or more dates set for prepayment or otherwise, (b) Indebtedness at any time and from time to time under the Letters of Credit, (c) all other obligations of the Borrowers at any time and from time to time under the Credit Agreement and the other Loan Documents and (d) all obligations of the Guarantor at any time and from time to time under the Loan Documents). Accordingly, in consideration of the premises and in order to induce the Agent and the Lenders to make Loans and extend other financial accommodations under the Credit Agreement, the Guarantor hereby agrees as follows:

Laars shall have meaning set forth in the first paragraph on page 1.