Examples of Priority Credit Agreement in a sentence
Each of the Priority Lien Agent, the Second Lien Collateral Trustee and the Third Lien Collateral Trustee represents and warrants to the other parties hereto that it is authorized under the Priority Credit Agreement, the Second Lien Collateral Trust Agreement and the Third Lien Collateral Trust Agreement, as the case may be, to enter into this Agreement.
It is understood that the obligations of each First Priority Lender and each Second Priority Lender are several and not joint, and no First Priority Lender or Second Priority Lender shall be responsible for any default by any other First Priority Lender and/or any Second Priority Lender, as the case may be, of its obligations under the First Priority Credit Agreement and/or the Second Priority Credit Agreement.
Reference is made to (a) the Priority Credit Agreement (defined below) and (b) the Second Lien Indenture (defined below) governing the Second Lien Indenture Notes (defined below).
Each of the Priority Lien Agent and the Second Lien Collateral Agent represents and warrants to the other parties hereto that it is authorized under the Priority Credit Agreement and the Original Second Lien Agreement, as the case may be, to enter into this Agreement.
Thus, on January 16, 2020, the Agent, the Lender, and Cosi entered into a Bridge Priority Credit Agreement (the “Bridge Credit Agreement”), pursuant to which the Lender agreed to advance up to $1,200,000 of additional funds to Cosi in order to provide for immediate working capital needs by earmarking borrowings under such Bridge Credit Agreement for the payment of taxing authorities and other critical vendors or other creditor entities.