Example ContractsClausesCredit Document
Credit Document
Credit Document contract clause examples

This Amendment shall not extinguish the obligations for the payment of money outstanding under the Credit Agreement or any other Credit Document or discharge or release the Lien or priority of any Collateral Document or any other security therefor. Nothing herein contained shall be construed as a substitution or novation of the obligations outstanding under the Credit Agreement, the Collateral Documents or the other Credit Documents or a novation of the Credit Agreement or any other Credit Document. The obligations outstanding under or of the Credit Agreement and instruments securing the same shall remain in full force and effect, except to any extent expressly modified hereby. Nothing implied in this Amendment or in any other document contemplated hereby shall be construed as a release or other discharge of any of the Loan Parties under any Credit Document from any of its obligations and liabilities as a borrower, guarantor, grantor or pledgor under any of the Credit Documents.

"Issuer Document" means, with respect to any Letter of Credit, a letter of credit application, a letter of credit agreement, or any other document, agreement or instrument entered into (or to be entered into) by Borrower in favor of Issuing Lender or Underlying Issuer and relating to such Letter of Credit.

Drawing Document” means any Letter of Credit or other document presented for purposes of drawing under any Letter of Credit, including by electronic transmission such as SWIFT, electronic mail, facsimile or computer generated communication.

This Amendment shall constitute a Credit Document.

This Agreement is a Credit Document for the purposes of the provisions of the other Credit Documents.

Use of Credit. Neither the Borrower nor any of its Subsidiaries is engaged principally, or as one of its important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying Margin Stock, and no part of the proceeds of any extension of credit hereunder will be used to buy or carry any Margin Stock.

Minimum Credit Test. If at the time the Expansion Exercise Notice is delivered by Tenant to Landlord, Tenant’s market valuation is less than and its Liquid Assets have a market value of less than, Landlord shall have no obligation to recognize the Expansion Exercise Notice as a valid exercise of the Expansion Option. “Liquid Assets” shall mean assets in the form of cash, cash equivalents, obligations of (or fully guaranteed as to principal and interest by) the United States or any agency or instrumentality thereof (provided the full faith and credit of the United States supports such obligation or guarantee), certificates of deposit issued by a commercial bank having net assets of not less than Fifty Million Dollars ($50,000,000), securities listed and traded on a recognized stock exchange or traded over the counter and listed in the National Association of Securities Dealers Automatic Quotations, liquid debt instruments that have a readily ascertainable value and are regularly traded in a recognized financial market and funds available to Tenant pursuant to commercial line(s) of credit from bona fide institutional lender(s).

Other Credit Parties. Each of the other Credit Parties # is a corporation, limited partnership, general partnership, limited liability company or trust duly organized under the laws of its State of organization and is validly existing and in good standing under the laws thereof, # has all requisite power to own its property and conduct its business as now conducted and as presently contemplated and # is in good standing and is duly authorized to do business in each jurisdiction where a Real Estate, owned or leased by it is located to the extent required to do so under applicable law and in each other jurisdiction where a failure to be so qualified could have a Material Adverse Effect.

Letters of Credit. Each payment of unreimbursed drawings in respect of LOC Obligations shall be allocated to each LOC Participant pro rata in accordance with its Revolving Loan Commitment Percentage; provided that, if any LOC Participant shall have failed to pay its applicable pro rata share of any drawing under any Letter of Credit, then any amount to which such LOC Participant would otherwise be entitled pursuant to this subsection # shall instead be payable to the Issuing [[Organization A:Organization]] until the share of such unreimbursed drawing not funded by such [[Organization A:Organization]] has been repaid; provided further, that in the event any amount paid to any LOC Participant pursuant to this subsection # is rescinded or must otherwise be returned by the Issuing [[Organization A:Organization]], each LOC Participant shall, upon the request of the Issuing [[Organization A:Organization]], repay to the Administrative Agent for the account of the Issuing [[Organization A:Organization]] the amount so paid to such LOC Participant, with interest for the period commencing on the date such payment is returned by the Issuing [[Organization A:Organization]] until the date the Issuing [[Organization A:Organization]] receives such repayment at a rate per annum equal to, during the period to, but excluding, the date two Business Days after such request, the Federal Funds Rate, and thereafter, the Base Rate plus two percent (2%) per annum.

Executed Credit Documents. Receipt by the Administrative Agent of duly executed copies of: # this Credit Agreement; # the Notes; and # all other Credit Documents required to be delivered on or before the Effective Date, each in form and substance reasonably acceptable to the Administrative Agent in its sole discretion.

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