Examples of Senior Lender Parties in a sentence
In the event of a sale or other disposition of any of the Senior Collateral by any of the Senior Lender Parties as contemplated in this Section, the Senior Administrative Agent shall provide to the Subordinated Creditors an accounting of such sale or disposition and shall advise the Subordinated Creditors as to the Senior LenderParties’ application of proceeds from such sale or other disposition to the Senior Obligations.8. Cases and other Proceedings.
The Agent has informed the Debtors that the Senior Lender Parties assert that (a) the Plan is not confirmable, (b) they intend to object to confirmation of the Plan, and (c) pursuant to Bankruptcy Code § 506(b), the Senior Lender Parties are entitled to the payment of interest at the default rate on the Senior Lender Secured Claim and postpetition fees, costs, and charges related to the Senior Lender Secured Claim under the Senior Lender Credit Documents (the “ 506(b) Claim”).
On or about January 24, 2011, the Agent, on behalf of the Senior Lender Parties, filed proofs of claim numbers 183, 187, 188, and 191 in the Cases asserting claims against the Debtors’ bankruptcy estates arising under or related to the Senior Lender Credit Documents of at least $86,593,906 (the “ Senior Lender Secured Claim”).
The Senior Lender Parties are hereby authorized to demand specific performance of this Section 5 at any time when the Guarantied Party shall have failed to comply with any of the provisions of this Section 5, and the Guarantied Party hereby irrevocably waives any defense based on the adequacy of a remedy at law which might be asserted as a bar to such remedy of specific performance.
No. 1394] (as may be supplemented, 3 The Senior Lender Parties include The CIT Group / Business Credit, Inc.; U.S. Bank National Association; PNC Bank, National Association; JPMorgan Chase Bank, N.A.; and Capital One Leverage Finance Corp.
For purposes of clarification, as of the Effective Date, the Senior Lender Parties shall hold no other Claims or causes of action against any of the Lack Parties, individually or collectively, related to the Cases, any of the Senior Lender Credit Documents, the Senior Lender Claim or the 506(b) Claim, including, but not limited to, any Claim to further prepetition or postpetition interest, fees, costs, or other charges, whether asserted pursuant to Bankruptcy Code § 506(b) or otherwise.
Until the Senior Obligations have been Paid in Full, the Senior Administrative Agent and/or the Senior Lender Parties shall have the exclusive right to enforce rights and remedies with respect to the Senior Collateral (other than with respect to the Subordinated Priority Collateral) and to make determinations with respect to the release, disposition and/or restrictions with respect to the Senior Collateral without any notice to or consent of the Subordinated Creditors.
Notwithstanding any other provision of this Guaranty, no payments to the Guarantied Party shall be required to be paid over to the Senior Lender Parties pursuant to this Section 5.1(c) if the Senior Lender Parties have either consented in writing to such payment or have failed to request turnover of such payment within 45 days of receipt of actual notice of the making of such payment.
In the event the Senior Lender Parties release or agrees to release any of its Liens on all or any part of the Collateral, the Guarantied Party shall promptly release or otherwise terminate its Liens on such Collateral.
Notwithstanding the foregoing, nothing in this Section 5 is intended or shall be deemed to restrict the rights of the Guarantied Party to seek judicial relief if a foreclosure of the Collateral by the Senior Lender Parties does not comply with the commercially reasonable requirements of Section 9-610 of the UCC.