These recordation is going to be conclusive and you will joining into the Team, absent reveal error;

By February 11, 2022123 payday loans

These recordation is going to be conclusive and you will joining into the Team, absent reveal error;

(iv) Notification of the Administrative Representative. Should any Lender decline to provide any increase in its Commitment, the Seller shall have the right (but not the obligation) to (1) seek a Second Warehouse Facility at any time thereafter, (2) sign and close on such Second Warehouse Facility, offered, that no Default or Event of Default has occurred and is continuing hereunder on the date of such signing and closing and (3) draw upon such Second Warehouse Facility at any time and from time to time, provided, that upon the first such draw, the Total Utilization of Commitments is equal to the Commitments of all Lenders and there exists no Default or Event of Default. At the option of the Administrative Agent, if an Obligor under a Pledged Lease is a party to another Lease that is not a Pledged Lease, Seller shall have the right repurchase the applicable Pledged Lease from Intermediate Seller (and Intermediate Seller shall have the corresponding right to repurchase such Pledged Lease from the Company), provided, that no Event of Default shall result from such repurchase. The repurchase price for such Pledged Lease shall be the greater of (a) the Amortized Order Value for such Lease and (b) any amounts necessary to cure any then existing Borrowing Base Deficiency. In connection therewith, Administrative Agent on behalf of the Lenders will promptly release any Lien on such Pledged Lease and the proceeds thereof so repurchased.

Per Financial shall look after to your its interior facts an account or account evidencing the latest Financial obligation from Team in order to such as for example Lender, like the amounts of brand new Finance created by it and every fees and prepayment in respect thereof

(v) Requirements in order to Features of Increase. As a condition precedent to each such increase, Company shall deliver to the Administrative Agent and each Lender, a certificate of the Secretary or Assistant Secretary of each of Company and the Seller, dated as of the Commitment Increase Effective Date, (i) certifying and attaching (x) the resolutions of Company approving or consenting to such Commitment increase and authorizing the execution, delivery and performance by such Person of the amendment to the Agreement, and (y) all documents evidencing all other necessary corporate action and governmental approvals, if any, with respect to such Commitment increase and such amendment to the Agreement and (ii) certifying that, before and after giving effect to such increase, (x) the representations and warranties of such Company and the Seller are true and correct as of the Commitment Increase Effective Date (unless any such representation or warranty relates to a specific date, in which case, it shall be true and correct in all material respects as of such date) and (y) no Event of Default or Default exists.

2.2 Pro-rata Offers. Every Money are from the lending company, in addition and you can proportionately to their particular Pro rata Offers, they getting knew one to zero Bank can be responsible for one default from the almost every other Bank in such most other Lender’s obligation to help you make a loan expected hereunder nor should one Commitment of every Financial end up being improved otherwise reduced down to a standard from the any other Lender this kind of other Lender’s responsibility and work out financing asked hereunder.

The fresh new Management Representative will alert for each and every Financial and you may Providers of the Administrative Agent’s and you may for example Lender’s reaction to for every request made hereunder, the degree of eg raise (if any) additionally the relevant Commitment Raise Effective Date

2.step 3 Accessibility Continues. Zero part of the continues of every Loan are made use of in whatever way that triggers otherwise may cause such as for instance Financing otherwise the aid of including proceeds to break Regulation T, Control You otherwise Controls X of your own Panel off Governors of the brand new Federal Set-aside System or other control thereof or even to break the fresh Change Act.

(a) Lenders’ Evidence of Loans. provided, that the failure to make any such recordation, or any error in such recordation, shall not affect any Lender’s Commitments or Company’s Obligations in respect of any applicable Loans; and provided next, in the event of any inconsistency between the Register and any Lender’s records, the recordations in the Register shall govern absent manifest error.


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