Most Favored Lender definition

Most Favored Lender. If the Borrower has, or enters into, any agreement with another credit provider with respect to debt of the Borrower (or an amendment, modification or restatement of any such credit agreement) that includes financial covenants more restrictive than those provided to Lender in this agreement, then the financial covenants from such other credit agreement shall be deemed incorporated into this agreement, but only so long as the other agreement remains in effect.
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Most Favored Lender. Status: None of the Company or the Subsidiaries providing guarantees will enter into any modification or amendment to any existing credit facility or other financing document, or enter into any new credit facility or financing document, that contains financial covenants, definitions or default provisions more favorable to the lender or financier thereunder unless the holders of the Notes are given the option of receiving the benefit of such more favorable provisions at the same time and on the same terms. No additional guarantees will be provided to the Banks or any other creditor of the Company, the Issuer or any Subsidiary Guarantor unless similar guarantees are given in favor of the holders of the Notes. For the avoidance of doubt and in addition to the foregoing, to the extent that the Group enters into any modification or amendment to the Syndicated Loan Agreement that contains definitions, covenants or other provisions more favorable to the Banks thereunder or under the Indicative Key Restructuring Terms and Conditions attached as Schedule 2 hereto, the holders of the Notes shall be given the option of receiving the benefit of such more favorable provisions at the same time and on the same terms.
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Examples of Most Favored Lender in a sentence

  • Thereafter, upon the request of the Required Lenders, the Borrowers and the Guarantors shall enter into an amendment to this Agreement and, if applicable, the other Credit Documents evidencing the incorporation of such Most Favored Lender Provisions, it being agreed that any failure to make such request or to enter into any such amendment shall in no way qualify or limit the incorporation described in clause (i) of the immediately preceding sentence.

  • Thereafter, upon the request of the Required Lenders, the Borrower and the Guarantors shall enter into an amendment to this Agreement and, if applicable, the other Credit Documents evidencing the incorporation of such Most Favored Lender Provisions, it being agreed that any failure to make such request or to enter into any such amendment shall in no way qualify or limit the incorporation described in clause (i) of the immediately preceding sentence.

  • Notwithstanding any of the foregoing to the contrary, it is hereby agreed that if no such Most Favored Lender Notice is provided by the date required herein, such Additional Provision shall be deemed automatically incorporated by reference in accordance with the terms of the previous sentence, effective as of the date when such Additional Provision became effective under such Material Debt Document.

  • Each Purchaser shall have received a Most Favored Lender Notice with respect to any Additional Covenants as of the date of the Closing.

  • Section 9.5. Corporate Existence, Etc 35 Section 9.6. Books and Records 35 Section 9.8. Rating Confirmation 37 Section 9.9. Most Favored Lender 37 Section 9.10.

  • Each Purchaser shall have received a Most Favored Lender Notice with respect to any AdditionalMost Favored Covenants as of the date of the Closing.

  • Affirmative Covenants 21 Section 9.1. Compliance with Law 21 Section 9.2. Insurance 21 Section 9.3. Maintenance of Properties 21 Section 9.4. Payment of Taxes 22 Section 9.5. Corporate Existence, Etc 22 Section 9.6 Books and Records 22 Section 9.7. Asset Coverage 22 Section 9.8. Current Rating on the Notes 22 Section 9.9. Most Favored Lender Status 22 Section 9.10.

  • Each Purchaser shall have received a Most Favored Lender Notice with respect to any Most Favored Covenants as of the date of the applicable Closing; provided that a Most Favored Lender Notice need not be delivered on the Second Closing Date if the Most Favored Covenants as of the Second Closing Date remain the same as those on the First Closing Date so long as each applicable Purchaser shall have received such Most Favored Lender Notice.

  • Notwithstanding anything contained in this Section 7.1.11 [Most Favored Lender] to the contrary, in no event shall any amendment to the covenant levels set forth in any covenant contained in any of the Note Purchase Agreements as of the Closing Date be deemed to constitute an Additional Covenant for purposes of this Section 7.1.11 [Most Favored Lender].

  • Incorporated Covenant shall have the meaning specified in Section 7.1.11(ii) [Most Favored Lender].