Satisfactory Settlement definition
Satisfactory Settlement means delivery to the Administrative Agent of (a) the fully executed and delivered Settlement Agreement, (b) evidence of the full and final payment of the Settlement Amount to the appropriate Federal agencies on or prior to the time specified in the Settlement Agreement (to the extent due on or prior to the Closing Date), (c) evidence that the applicable Settlement Amount does not exceed the applicable Settlement Cap and (d) evidence that the Borrower has satisfactorily and timely complied with all other terms of the Settlement Agreement (to the extent required to be complied with on or prior to the Closing Date).
Examples of Satisfactory Settlement in a sentence
The Administrative Agent shall have received evidence of the Satisfactory Settlement.