The degree of for each and every Lender’s Relationship, or no, is determined forward on the

The degree of for each and every Lender’s Relationship, or no, is determined forward on the

“Alter away from Control” form, anytime, people “person” otherwise “group” away from relevant people (as a result conditions are supplied definition in the Replace Work and the guidelines of your SEC thereunder) is actually otherwise becomes the proprietor, beneficially otherwise out of list, physically otherwise ultimately, greater than fifty% of financial and you can voting passion (including the straight to decide directors or similar representatives) from the Financing Stock out of Mother or father new product sales, book, transfer, conveyance or other aura, in a single otherwise a few relevant transactions, of the many otherwise drastically all assets out-of Seller and you may their Subsidiaries as a whole to the “person” (as a result term is given definition on the Change Operate and you will the rules of the SEC thereunder); otherwise (c) new Intermediate Merchant shall cease so you’re able to beneficially individual and manage a hundred% of financial and voting need for the main city Inventory regarding Business in addition to Merchant should quit to beneficially individual and you may handle 100% of one’s monetary and you can voting hobbies regarding the Investment Stock out of new Advanced Vendor.

“Charge-Back Set aside Number” form $0, or such as for example other number once the may be offered to from date-to-big date of the events hereto.

The brand new Connection of each and every Financial is equal to zero towards brand new Commitment Termination Time

“Charged-Of Book” form a lease hence, for the each case, similar to the Underwriting Guidelines, provides otherwise should have become composed off Businesses courses because the uncollectable.

“Collateral” function, collectively, every real, private and you will mixed possessions (in addition to Financing Inventory) in which Liens are speculated to getting granted pursuant for the Guarantee Records while the defense to the Loans.

Point 7

“Equity Records” means the security Agreement, the fresh Manage Arrangements, new Guarantee Agreement, the latest Debtor Pledge Arrangement and all of almost every other devices, records and you may agreements produced from the, or for, Organization, brand new Intermediate Merchant otherwise Seller pursuant compared to that Agreement otherwise people of the other Credit Data, once the situation is, so you’re able to give to help you, or primary and only, Administrative Representative, with the benefit of Covered People, good Lien into the any actual, individual otherwise mixed possessions off Company since the safety with the Obligations or to cover or keep the newest appeal out-of Administrative Broker or new Protected Activities therein.

“Collection Membership” mode an account having account matter 00000000 at the Xxxxx Fargo Lender, Federal Relationship on the identity off Providers.

“Collections” means, with respect to each Pledged Lease, any and all cash collections and other cash proceeds of such Pledged Lease (whether in the form of cash, checks, wire transfers, electronic transfers or any other form of cash payment), including, without limitation, all prepayments, all overdue payments, all prepayment penalties and early termination penalties, all amounts collected as fees, or charges for late payments with respect to such Pledged Lease, all recoveries with respect to each Charged-Off Lease, all investment proceeds and other investment earnings (net of losses and investment expenses) on Collections as a result of the investment thereof pursuant to Point six.6, all proceeds of any sale, transfer or other disposition of any Pledged Lease by Company and all deposits, payments or recoveries made in respect of any Pledged Lease to any Controlled Account, or received by Company in respect of a Pledged Lease, and all payments representing a disposition of any Pledged Lease.

“Commitment” means the commitment of a Lender to make or otherwise fund any Loan and “Commitments” means such commitments of the Lenders in the aggregate. Appendix A beneficial or in the applicable Assignment Agreement, subject to any adjustment or reduction pursuant to the terms and conditions hereof.

“Commitment Termination Date” means the earliest to occur of (i) , as such date may be extended in the sole discretion of the Administrative Agent and the Lenders; (ii) the date the Commitments are permanently reduced to zero pursuant to Point 2.9(b); (iii) the date of the termination of the Commitments pursuant to 1 and (iv) errors, exceptions or discrepancies exist with respect the reconciliation of the applicable delivered documents to the Lease File with respect to any Proof of Purchase Verification Event or Verification Event and such errors, exceptions or discrepancies have not been remedied, for ten (10) Business Days following written notice thereof by the Required Lenders to the Company.

Leave a Comment

Your email address will not be published.