Steelco definition
Examples of Steelco in a sentence
In the case of the Borrower and the General Partner, create, incur, assume or suffer to exist, any Debt other than (i) Debt hereunder and under the Loan Documents; (ii) Debt for borrowed money incurred in connection with any loan made by Steelco to the Borrower (on a “deeply subordinated” basis on terms satisfactory to the Investors); and (iii) other Debt in an aggregate amount outstanding at any time of not more than $500,000.
The provisions of this Article are solely for the benefit of the Administrative Agent, the Collateral Agent and the Investors, and none of Steelco, the General Partner or the Borrower shall have rights as a third party beneficiary of any of such provisions.
Neither the Administrative Agent, the Collateral Agent nor any Investor shall under any circumstances be deemed to be in a relationship of confidence or trust or a fiduciary relationship with Steelco, the General Partner or the Borrower or their Affiliates, or to owe any fiduciary duty to Steelco, the General Partner or the Borrower or their Affiliates.
The Investors shall have received a favourable written opinion from counsel to Steelco, the General Partner and the Borrower, covering such matters relating to this Agreement, the other Loan Documents and the Transactions as the Investors shall reasonably request (together with copies of all factual certificates and legal opinions delivered to such counsel in connection with such opinion upon which counsel has relied).
The Administrative Agent, the Collateral Agent and the Investors shall not undertake or assume any responsibility or duty to Steelco, the General Partner or the Borrower or their Affiliates to select, review, inspect, supervise, pass judgment upon or inform Steelco, the General Partner or the Borrower or their Affiliates of any matter in connection with their property or the operations of Steelco, the General Partner or the Borrower or their Affiliates.
Unless otherwise expressly provided in this Agreement, the Borrower, the General Partner or Steelco, as applicable, shall make any payment required to be made by it to the Administrative Agent by depositing the amount of the payment in the relevant currency to the Administrative Agent’s Account not later than 12:00 p.m. (Eastern time) on the date the payment is due.
Each of the Borrower, the General Partner and Steelco acknowledges that in order to help the United States government fight the funding of terrorism and money laundering activities, pursuant to Federal regulations that became effective on October 1, 2003 (Section 326 of the USA PATRIOT Act) all financial institutions are required to obtain, verify, record and update information that identifies each person establishing a relationship or opening an account.
The Steelco Asset Purchase Agreement is in full force and effect as of the Closing Date and has not been terminated, rescinded or withdrawn.
In the case of the Company, to it at: H.I.G. Steelco Holdings, Inc.
Without prejudice to any other mode of service, the Borrower, the General Partner and Steelco each consent to the service of process relating to any such proceedings by prepaid mailing or by personal delivery of a copy of the process at the address identified in Section 11.1 or by facsimile or prepaid mailing by air mail, certified or registered mail, or by personal delivery, of a copy of the process at the address as provided for pursuant to Section 11.1.