Liquidity Borrower definition
Examples of Liquidity Borrower in a sentence
Compliance shall be determined as of the end of each month, except as otherwise specifically provided below: Minimum Liquidity: Borrower shall at all times maintain Liquidity of not less than $5,000,000.
Each Liquidity Bank also acknowledges that it will, independently and without reliance upon the Surety Provider, the Liquidity Borrower, the Liquidity Agent, the Liquidity Collateral Agent, the Tender Agent or any other Liquidity Bank and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under this Agreement and such other Transaction Documents.
Each Liquidity Bank is hereby irrevocably authorized by the Liquidity Borrower to endorse its Liquidity Note and to attach to and make a part of any Liquidity Note a continuation of any such schedule as and when required.
All written information furnished by the Liquidity Borrower to the Liquidity Banks with respect to the Liquidity Borrower is true and correct in all material respects and does not omit any facts necessary under the circumstances to make the information contained therein not misleading.
Except as otherwise provided in this Section 4.4 or in Section 5.1, the Liquidity Borrower or its duly appointed agent shall continue to collect all amounts due or to become due to the Liquidity Borrower under or in connection with the Liquidity Collateral.
The Liquidity Borrower shall keep its chief place of business and chief executive office and the locations where it keeps its records concerning the Liquidity Collateral at the respective locations therefor set forth on Schedule 1 hereto or, upon 30 days' prior written notice to the Liquidity Collateral Agent, at such other locations in a jurisdiction where all action required by Section 4.1 shall have been taken with respect to the Liquidity Collateral.
The Liquidity Agent may resign at any time by giving written notice thereof to the Liquidity Banks and the Liquidity Borrower and the Administrative Agent and may be removed at any time with or without cause by the Majority Liquidity Banks upon written notice thereof to the Liquidity Agent and the Liquidity Borrower.
If at any time and during such time Borrower's Liquidity is less than Fifteen Million Dollars ($15,000,000) or nine (9) months Remaining Months Liquidity, Borrower shall comply with Sections 6.8, 6.9, 6.10 and 6.11 as of the last day of each calendar month.
The Liquidity Borrower agrees that any Liquidity Bank so purchasing a participation from another Liquidity Bank pursuant to this Section 2.15 may, to the fullest extent permitted by law, exercise all its rights of payment (including the right of setoff) with respect to such participation as fully as if such Liquidity Bank were the direct creditor of the Liquidity Borrower in the amount of such participation.
The rights granted under this Section 8.06(g) are in addition to any rights of the Liquidity Borrower under Section 2.17 hereof.