Term Facility Agent definition
Examples of Term Facility Agent in a sentence
The Borrowers will promptly notify the Administrative Agent and the Term Facility Agent of any Default and deliver to the Administrative Agent and the Term Facility Agent any auditor letter highlighting issues or deficiencies that, if not addressed or corrected, could reasonably result in a Material Adverse Change.
Each telephone notice must be followed by a written confirmation on the same date, in the form of Schedule C or in any other manner as may be agreed between the Administrative Agent or the Term Facility Agent (as applicable) and the relevant Borrower.
If a Lender fails to advance its share of any Borrowing and, despite such failure, the Administrative Agent or the Term Facility Agent, as applicable, advances such amount to a Borrower, the Administrative Agent or the Term Facility Agent, as applicable, may recover such amount from such Lender or, if it is unable to do so, from such Borrower, with interest from the date of disbursement at the rate applicable to Borrowings in the same form under the relevant Tranche or Facility.
The Administrative Agent, the Term Facility Agent or the Collateral Agent (as applicable) will only be liable to the Revolving Lenders or the Term Lenders, as applicable, for willful misconduct or gross negligence, and will have no liability as a consequence of a failure of any Person to fulfil its obligations or any action authorized by the Majority Lenders (or by all Lenders where the consent of all Lenders is required).
The Term Facility Agent agrees that any of the Intellectual Property constituting Term Facility Priority Collateral that is sold, transferred or otherwise disposed of by the Term Facility Agent (whether pursuant to an Enforcement Action or otherwise) prior to the License Expiration Date will be subject to the rights of the Revolving Facility Agent as set forth in this Section 3.4.