Sponsor Facility Obligations definition

Sponsor Facility Obligations shall include all interest accrued or accruing in accordance with the rate specified in the Sponsor Agreement but shall exclude (solely for purposes of this Agreement) such interest accrued or accruing with respect to principal amounts in excess of the Maximum Sponsor Facility Indebtedness Amount. “Sponsor Facility Obligations” shall include any interest which accrues on the principal amount of the Sponsor Facility Obligations subsequent to commencement of an Insolvency Proceeding to the extent such interest is an allowed claim under applicable law. To the extent any payment with respect to any Sponsor Facility Obligation is declared to be a fraudulent conveyance or a preference in any respect, set aside or required to be paid to a debtor in possession, trustee, any Bank Group Secured Party, receiver or similar Person, then the Sponsor Facility Obligations or part thereof originally intended to be satisfied shall, for the purposes of this Agreement and the rights and obligations of the Sponsor and the Bank Group Secured Parties, be deemed to be reinstated and outstanding as if such payment had not occurred.
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Sponsor Facility Obligations shall include any interest which accrues on the principal amount of the Sponsor Facility Obligations subsequent to commencement of an Insolvency Proceeding to the extent such interest is an allowed claim under applicable law. To the extent any payment with respect to any Sponsor Facility Obligation is declared to be a fraudulent conveyance or a preference in any respect, set aside or required to be paid to a debtor in possession, trustee, any Bank Group Secured Party, receiver or similar Person, then the Sponsor Facility Obligations or part thereof originally intended to be satisfied shall, for the purposes of this Agreement and the rights and obligations of the Sponsor and the Bank Group Secured Parties, be deemed to be reinstated and outstanding as if such payment had not occurred.
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Sponsor Facility Obligations means all principal of and interest on all loans made pursuant to the Sponsor Agreement and all costs, charges, fees, expenses and other amounts payable from time to time pursuant to the Sponsor Loan Documents; provided, however, that in no event shall any principal amount that is in excess of the Maximum Sponsor Facility Indebtedness Amount be deemed to be or constitute all or any portion of the Sponsor Facility Obligations for purposes of this Agreement. “Sponsor Facility Obligations” shall include all interest accrued or accruing in accordance with the rate specified in the Sponsor Agreement but shall exclude (solely for purposes of this Agreement) such interest accrued or accruing with respect to principal amounts in excess of the Maximum Sponsor Facility Indebtedness Amount. “Sponsor Facility Obligations” shall include any interest which accrues on the principal amount of the Sponsor Facility Obligations subsequent to commencement of an Insolvency Proceeding to the extent such interest is an allowed claim under applicable law. To the extent any payment with respect to any Sponsor Facility Obligation is declared to be a fraudulent conveyance or a preference in any respect, set aside or required to be paid to a debtor in possession, trustee, any Bank Group Secured Party, receiver or similar Person, then the Sponsor Facility Obligations or part thereof originally intended to be satisfied shall, for the purposes of this Agreement and the rights and obligations of the Sponsor and the Bank Group Secured Parties, be deemed to be reinstated and outstanding as if such payment had not occurred.
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Examples of Sponsor Facility Obligations in a sentence

  • Nothing in this Agreement is intended to or shall impair the obligations of the Borrower, which are absolute and unconditional, to pay the Sponsor Facility Obligations and the Bank Group Obligations as and when the same shall become due and payable in accordance with their terms.

  • This Agreement shall terminate and be of no further force and effect, subject to Section 5.03 hereof, upon the earlier to occur of (i) the date of the Discharge of Bank Group Obligations and (ii) the date of the Discharge of Sponsor Facility Obligations.

  • After the Termination Date, so long as the Discharge of Sponsor Facility Obligations has not occurred, any Merchant Receivables or proceeds thereof received by the Sponsor shall be applied by the Sponsor to permanently reduce the Sponsor Facility Obligations.

  • After the Termination Date, so long as the Discharge of Sponsor Facility Obligations has not occurred, any proceeds of Merchant Receivables received by the Bank Group Administrative Agent shall be segregated and held in trust and forthwith transferred or paid over to the Sponsor in the same form as received, together with any necessary endorsements, for application by the Sponsor to the permanent reduction of the Sponsor Facility Obligations.

  • Upon the Discharge of Sponsor Facility Obligations, the Sponsor shall deliver to the Bank Group Administrative Agent any remaining Merchant Receivables and any proceeds thereof then held by it in the same form as received, together with any necessary endorsements, or as a court of competent jurisdiction may otherwise direct.


More Definitions of Sponsor Facility Obligations

Sponsor Facility Obligations means all principal of and interest on all loans made pursuant to the Sponsor Agreement and all costs, charges, fees, expenses and other amounts
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Related to Sponsor Facility Obligations

  • Credit Facility Obligations means all “Obligations” (or any other defined term having a similar purpose) as defined in the Credit Agreement.

  • Liquidity Obligations means all principal, interest, fees and other amounts owing to the Liquidity Providers under the Liquidity Facilities, Section 8.1 of the Participation Agreements or the Fee Letters.

  • Credit Agreement Obligations means the “Obligations” as defined in the Credit Agreement.

  • Borrower Credit Agreement Obligations the collective reference to the unpaid principal of and interest on the Loans and Reimbursement Obligations and all other obligations and liabilities of the Borrower (including, without limitation, interest accruing at the then applicable rate provided in the Credit Agreement after the maturity of the Loans and Reimbursement Obligations and interest accruing at the then applicable rate provided in the Credit Agreement after the filing of any petition in bankruptcy, or the commencement of any insolvency, reorganization or like proceeding, relating to the Borrower, whether or not a claim for post-filing or post-petition interest is allowed in such proceeding) to the Administrative Agent or any Lender, whether direct or indirect, absolute or contingent, due or to become due, or now existing or hereafter incurred, which may arise under, out of, or in connection with, the Credit Agreement, this Agreement, or the other Loan Documents, or any Letter of Credit, or any other document made, delivered or given in connection therewith, in each case whether on account of principal, interest, reimbursement obligations, fees, indemnities, costs, expenses or otherwise (including, without limitation, all fees and disbursements of counsel to the Administrative Agent or to the Lenders that are required to be paid by the Borrower pursuant to the terms of any of the foregoing agreements).

  • Term Loan Obligations means the “Obligations” as defined in the Term Loan Credit Agreement.

  • Discharge of Credit Agreement Obligations means, with respect to any Shared Collateral, the Discharge of the Credit Agreement Obligations with respect to such Shared Collateral; provided that the Discharge of Credit Agreement Obligations shall not be deemed to have occurred in connection with a Refinancing of such Credit Agreement Obligations with an Additional Senior Debt Facility secured by such Shared Collateral under one or more Additional Senior Debt Documents which has been designated in writing by the Administrative Agent (under the Credit Agreement so Refinanced) to the Designated Senior Representative as the “Credit Agreement” for purposes of this Agreement.

  • Loan Obligations means (a) the due and punctual payment by the Borrower of (i) the unpaid principal of and interest (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding) on the Loans made to the Borrower under this Agreement, when and as due, whether at maturity, by acceleration, upon one or more dates set for prepayment or otherwise, (ii) each payment required to be made by the Borrower under this Agreement in respect of any Letter of Credit, when and as due, including payments in respect of reimbursement of disbursements, interest thereon (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding) and obligations to provide Cash Collateral and (iii) all other monetary obligations of the Borrower owed under or pursuant to this Agreement and each other Loan Document, including obligations to pay fees, expense reimbursement obligations and indemnification obligations, whether primary, secondary, direct, contingent, fixed or otherwise (including monetary obligations incurred during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding), and (b) the due and punctual payment of all obligations of each other Loan Party under or pursuant to each of the Loan Documents.

  • Revolving Loan Obligations means any Obligations with respect to the Revolving Loans (including without limitation, the principal thereof, the interest thereon, and the fees and expenses specifically related thereto).

  • L/C Obligations means, as at any date of determination, the aggregate amount available to be drawn under all outstanding Letters of Credit plus the aggregate of all Unreimbursed Amounts, including all L/C Borrowings. For purposes of computing the amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.09. For all purposes of this Agreement, if on any date of determination a Letter of Credit has expired by its terms but any amount may still be drawn thereunder by reason of the operation of Rule 3.14 of the ISP, such Letter of Credit shall be deemed to be “outstanding” in the amount so remaining available to be drawn.

  • Revolving Facility Exposure means, for any Lender at any time, the sum of (i) the principal amount of Revolving Loans made by such Lender and outstanding at such time, and (ii) such Lender’s share of the LC Outstandings at such time.

  • Credit Improved Obligation means any Collateral Debt Obligation which, in the Investment Manager’s judgment, has significantly improved in credit quality and in respect of which one of the following is satisfied:

  • Loan Document Obligations means (a) the due and punctual payment by the Borrower of (i) the principal of and interest (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding) on the Loans, when and as due, whether at maturity, by acceleration, upon one or more dates set for prepayment or otherwise, (ii) each payment required to be made by the Borrower under this Agreement in respect of any Letter of Credit, when and as due, including payments in respect of reimbursement of disbursements, interest thereon and obligations to provide cash collateral and (iii) all other monetary obligations of the Borrower under this Agreement and each of the other Loan Documents, including obligations to pay fees, expense reimbursement obligations (including with respect to attorneys’ fees) and indemnification obligations, whether primary, secondary, direct, contingent, fixed or otherwise (including monetary obligations incurred during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding), (b) the due and punctual performance of all other obligations of the Borrower under or pursuant to this Agreement and each of the other Loan Documents and (c) the due and punctual payment and performance of all the obligations of each other Loan Party under or pursuant to each of the Loan Documents (including monetary obligations incurred during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding), in each case of clauses (a), (b) and (c), whether now or hereafter owing.

  • Term Obligations shall have the meaning set forth in the Intercreditor Agreement.

  • Senior Priority Obligations as defined in the Base Intercreditor Agreement.

  • Secured Cash Management Obligations means Obligations under Secured Cash Management Agreements.

  • Facility or Facilities means any tangible asset in the right-of-way required to provide utility service.

  • Revolving Facilities means collectively the Initial Revolving Facility and each New Revolving Facility and “Revolving Facility” means any such facility individually.

  • Revolving Credit Facilities means the collective reference to the Dollar Revolving Credit Facility and the Alternative Currency Revolving Credit Facility.

  • Junior Priority Obligations means the Original Second Lien Obligations and any Additional Obligations constituting Junior Priority Debt.

  • Investment Obligations means and include, except as otherwise provided in the Supplemental Indenture providing for the authorization of Bonds, any of the following securities, if and to the extent that such securities are legal investments for funds of the Issuer;

  • Credit Facility shall include any agreement or instrument (1) changing the maturity of any Indebtedness Incurred thereunder or contemplated thereby, (2) adding Subsidiaries of the Company as additional borrowers or guarantors thereunder, (3) increasing the amount of Indebtedness Incurred thereunder or available to be borrowed thereunder or (4) otherwise altering the terms and conditions thereof.

  • Replacement Revolving Facility Commitments shall have the meaning assigned to such term in Section 2.21(l).

  • Revolving Facility Maturity Date means, as the context may require, (a) with respect to the Revolving Facility in effect on the Closing Date, the fifth anniversary of the Closing Date and (b) with respect to any other Classes of Revolving Facility Commitments, the maturity dates specified therefor in the applicable Extension Amendment or Refinancing Amendment.

  • Credit Document Obligations shall have the meaning provided in the definition of "Obligations" in this Article IX.

  • Extended Revolving Credit Facility means each Class of Extended Revolving Credit Commitments established pursuant to Section 2.15(a)(ii).

  • L/C Reimbursement Obligation means, for any Letter of Credit, the obligation of the Borrower to the L/C Issuer thereof, as and when matured, to pay all amounts drawn under such Letter of Credit.