Examples of Remaining Lender in a sentence
Lender agrees and consents to the entry of stop-transfer instructions with Buyer’s transfer agent and registrar against the Transfer of the Lender Stock Repayment Amount, the Lender Stock R&W Policy Amount and the Lender Stock Release Amount (or Remaining Lender Stock Release Amount, as the case may be) in violation of the foregoing restrictions.
Lender acknowledges that it is informed as to the risks of the transactions contemplated hereby and of ownership of the Lender Stock Repayment Amount, the Lender Stock R&W Policy Amount and the Lender Stock Release Amount (or Remaining Lender Stock Release Amount, as the case may be).
If the Negative Adjustment Amount exceeds the then remaining balance of the Escrow Account, including any earnings thereon (such excess, the “ Excess Balance ”), then (x) Lender and Buyer shall deliver joint written instruction to the Escrow Agent instructing the Escrow Agent to deliver the full balance of the Escrow Account to Buyer, and (y) Buyer shall issue to Lender the Remaining Lender Stock Release Amount.
As a result of such assignment, (i) the Repaid Lender shall have no further rights, duties or obligations under this Agreement and the Remaining Lender shall be entitled to make all any and all decisions required and/or permitted to be made by the Lenders hereunder, (ii) the Repaid Lender shall no longer be deemed a Lender hereunder, and (iii) the Repaid Lender shall no longer have any interest in the Collateral.
The Lenders hereby agree to execute such termination statements or other documents as the Remaining Lender may reasonably require.