Plant Loan definition
Examples of Plant Loan in a sentence
Each of the Plant Loan Parties has good and marketable title to all of their respective Inventory and Accounts reflected in their most recent financial statements delivered pursuant to Section 5.1, in each case except for such assets disposed of since the date of such financial statements to the extent permitted hereby.
Each of the Lenders further agrees that it shall not, unless specifically requested to do so in writing by Agent, take or cause to be taken any action, including, the commencement of any legal or equitable proceedings to enforce any Loan Document against any Borrower, any Plant Loan Party or any Guarantor or to foreclose any Lien on, or otherwise enforce any security interest in, any of the Collateral.
Upon satisfaction of the conditions set forth in this Section 17.15(c), Agent shall execute and deliver an Applicable Inventory Limit Reduction Letter to Administrative Borrower and the applicable Plant Loan Party setting forth the amount of the permanently reduced Applicable Inventory Limit for such Plant Loan Party.
Notwithstanding the foregoing, Parent shall not be required to ▇▇▇▇▇ ▇ ▇▇▇▇ to Agent on any of its assets except the Stock of Borrowers and no Plant Loan Party shall be required to ▇▇▇▇▇ ▇ ▇▇▇▇ to Agent on any of its assets except its Inventory and proceeds thereof (other than proceeds constituting Accounts arising from the sale of Inventory to REG Marketing in the ordinary course of business).
Upon satisfaction of the conditions set forth in this Section 17.15(b), Agent shall execute and deliver a letter to such Person releasing it as a Plant Loan Party and such other documents and agreements as are necessary to release Agent’s Lien on such Person’s property.
The Rail Agreements (as defined in the Plant Loan Documents), the Rail Spur Contract (as defined in the Plant Loan Documents), and all other agreements necessary to provide rail access to the Plant must be executed and in full force and effect, to the extent required to be received and approved by Plant Lender.
After the principal balance of the Plant Loan is less than $50,000,000.00, distributions may be made quarterly.
Copies of each Project Document (as defined in the Plant Loan Documents).
If there is an Event of Default at such time as any amounts are to be paid to Borrower pursuant to the Central Farmers Escrow Agreement and this Section 6.27, Borrower shall immediately transfer such amounts from Borrower’s Operating Account to the Collection Account for application to the Revolving Loan or if there are no outstanding obligations under the Revolving Loan at the time of such payment, to the Plant Loan.
Oh Title: President REG HOUSTON, LLC, a Texas limited liability company, as a Plant Loan Party By: /s/ D▇▇▇▇▇ ▇.