Examples of Second Lien Lenders in a sentence
Accordingly, the Borrowers have requested that, in the event that any Borrower (or any Subsidiary or Subsidiaries thereof) acquires a majority interest in Xxxxxxx prior to the Extension Deadline, the Second Lien Administrative Agent and the Second Lien Lenders exclude Xxxxxxx as a “Subsidiary” under the Second Lien Credit Agreement until the expiration of the Extension Deadline.
The Second Lien Administrative Agent and the Second Lien Lenders are willing to grant the Borrowers’ request subject to the terms and conditions of this Agreement.
The subsections that follow include additional detail regarding various components of Hewlett’s valuation analysis as well as an explanation of why the criticisms and alternative approaches offered by Defendants’ experts – primarily real estate experts Michael Cannon (for the First and Second Lien Lenders) and Michael Samuels (for the Senior Transeastern Lenders) – are less convincing.
Subject to the terms and conditions of this Agreement, the Second Lien Administrative Agent and the Second Lien Lenders hereby consent and agree that, should any Borrower (or any Subsidiary or Subsidiaries thereof), acquire a majority ownership interest in Xxxxxxx prior to the expiration of the Extension Deadline, Xxxxxxx shall not be deemed or considered a “Subsidiary” under the terms of the Second Lien Credit Agreement for any purpose until the expiration of the Extension Deadline.
The subordination provisions of the Intercreditor Agreement are and will be enforceable against the Existing Second Lien Lenders by the Secured Parties which have not effectively waived the benefits thereof.