Warehouse Agent definition
Examples of Warehouse Agent in a sentence
Each Maker warrants and represents to Payee, all other Holders and the Seasoned Warehouse Agent that all loans evidenced by this note are and will be for business, commercial, investment or other similar purpose and not primarily for personal, family, household or agricultural use, as such terms are used in Chapter 1D or in the Texas Finance Code.
Each Company shall have furnished to the Seasoned Warehouse Agent a certificate of the Secretary or Assistant Secretary of such Company, certified as of the Effective Date, as to the incumbency and signature of the officers of such Company signing this Agreement, the Seasoned Warehouse Notes and any other Warehouse Loan Document contemplated or delivered under this Agreement.
Each payment received by the Seasoned Warehouse Agent in accordance with this Agreement is valid and effective to satisfy and discharge the Companies' liability under the Loan Documents to the extent of such payment.
The Seasoned Warehouse Agent shall make such original Certifications available to the Seasoned Warehouse Lenders on their request.
Pending such return, you are to hold such documents as bailee and in trust for Texas Commerce Bank National Association, as Seasoned Warehouse Agent and Representative of the Seasoned Warehouse Lenders.
If the Companies fail to designate such an approved successor custodian within such 20-day period, then the Seasoned Warehouse Agent shall retain possession and custody of the Files at the address provided in SECTION 10 until such time as the Majority Seasoned Warehouse Lenders have designated a new custodian.
Each Company shall have furnished to the Seasoned Warehouse Agent a copy of the Articles of Incorporation, including all amendments thereto and restatements thereof, and all other charter documents of such Company, all of which shall have been certified by the Michigan Department of Commerce (or, in the case of MCAI-Ohio, the comparable Ohio Governmental Authority) as of a date within thirty (30) days of the date hereof.
It is the intent of the Companies, the Seasoned Warehouse Agent, the Custodian and the Seasoned Warehouse Lenders in the execution and performance of this Agreement and the other Loan Documents to contract in strict compliance with the usury laws of the State of Texas and the United States of America from time to time in effect.
If any Company or Subsidiary shall fail to pay such taxes and assessments within the time they can be paid without penalty, late charge or interest, the Seasoned Warehouse Agent and the Lenders shall have the option to do so, and the Companies agree to repay the Seasoned Warehouse Agent (for distribution to itself and/or to such other Lenders as shall have paid them) upon demand, with interest at the Past Due Rate, all amounts so expended by the Seasoned Warehouse Agent and the Lenders.
Upon correction or completion of any such Exception File, the Seasoned Warehouse Agent shall issue a Follow-up Notice of Receipt for it.