Saxet definition
Examples of Saxet in a sentence
Saxet covenants and agrees that it will exercise its power of direction over the Land Trust to cause it to effectuate and consummate the transactions involving the Illinois Properties set forth herein.
On or before November 11, 2001, URI and Saxet shall or shall cause its Subsidiaries to transfer substantially all of the assets of the Subsidiaries listed on SCHEDULE 8.10 hereto, including any obligations and liabilities under any lease or sublease agreements or other agreement entered into pursuant to (i) the FFCA Financing Transaction, to SLP (a direct first-tier Subsidiary of URC) or direct, first-tier Subsidiaries of SLP, (ii) the ▇▇▇▇▇▇▇ I Financing Transaction, to SLA Mail, Inc.
Each Saxet Term Note shall be in the original principal amount of the applicable Bank's Commitment Percentage of the aggregate amount of the Saxet Term Loan, shall be dated the Closing Date and shall have the blanks therein completed.
The Borrowers agree that any holder of a participation in the Revolving Credit Advance, the URI Term Loan and the Saxet Term Loan may, to the fullest extent permitted by law, exercise all its rights of payment with respect to such participation as if such holder were the direct creditor of the Borrowers in the amount of the participation.
The Saxet Term Loan shall be evidenced by the Saxet Term Notes payable to the order of each Bank.
The proceeds of the Saxet Term Loan shall be distributed by Saxet to URI to repay Indebtedness owed to URI and used by URI to refinance Indebtedness under the 1994 Credit Agreement, the proceeds of which were used, directly or indirectly, to fund the acquisition by Saxet of the Saxet Mortgaged Properties.
The Revised Notes shall, from and after the date hereof, be deemed to be the "Revolving Credit Notes", "URI Term Notes" and "Saxet Term Notes", respectively, under the Credit Agreement.
Accrued interest on the URI Revolving Credit Notes, the URI Term Notes and the Saxet Term Notes, each dated November 4, 1997 (collectively, the "Original Notes"), through the date hereof which has not been paid shall be paid to the holder of such Original Notes in accordance with the terms of the Credit Agreement prior to amendment hereby.
The Parties hereto acknowledge that legal title to the Properties located in Illinois is held by ▇▇▇▇ ▇▇▇▇▇▇ Bank as Trustee under Trust Agreement dated September 16, 1968 and known as Trust number 33409 (the "Land Trust") and Saxet Corporation owns the beneficial interest in and power direction over the Land Trust.