Loan Parties definition
Examples of Loan Parties in a sentence
At the election of any Indemnified Person, the Loan Parties’ indemnification obligations under this Section 5.18 shall include the obligation to defend such Indemnified Person using legal counsel reasonably satisfactory to such Indemnified Person, at the sole cost and expense of the Loan Parties subject to the provisions of this Section 5.18.
The Loan Parties shall pay the reasonable, documented and invoiced fees and expenses of such legal counsel (other than with respect to disputes between Indemnified Persons), and such legal counsel shall to the fullest extent consistent with its professional responsibilities cooperate with the Loan Parties and any legal counsel designated by the Loan Parties.
The Loan Parties shall report to the relevant Indemnified Person on the status of any such action, suit or proceeding the defense of which it has assumed as material developments shall occur and from time to time as requested by such Indemnified Person (but not more frequently than once every sixty (60) days).
Administrative Agent, the Lenders, the other Secured Parties and the Loan Parties intend that the relationship between them shall be solely that of creditor and debtor.
The Loan Parties agree that in the event the Matador Lease has not been entered into by all parties thereto on or before the 9 month anniversary of the Closing Date, the Administrative Agent shall be permitted to (but is not obligated to) start marketing the Collateral (including any Equipment) to potential buyers, including, without limitation, providing copies of Material Equipment Documents to potential buyers.