10 Mar The amount of for each and every Lender’s Union, or no, is decided onward to the
“Change from Handle” mode, when, one “person” otherwise “group” off related persons (therefore conditions are offered definition from the Exchange Work and you will the rules of your own SEC thereunder) try otherwise will get the property owner, beneficially otherwise out-of number, yourself or indirectly, of greater than fifty% of your own financial and voting welfare (including the right to decide directors otherwise similar representatives) regarding the Resource Stock out-of Moms and dad the fresh profit, rent, transfer, conveyance or other vibe, in one or some relevant transactions, of all of the otherwise drastically all of the possessions away from Supplier and you may their Subsidiaries taken as a whole to your “person” (therefore label is provided meaning throughout the Change Operate and you will the principles of the SEC thereunder); otherwise (c) the fresh new Advanced Merchant shall quit so you’re able to beneficially individual and you may control a hundred% of your own monetary and you can voting interest in the main city Stock out of Company and also the Supplier will cease to help you beneficially very own and you may handle GA payday loans 100% of monetary and you may voting welfare in the Funding Inventory of the new Intermediate Supplier.
“Charge-Right back Set aside Amount” form $0, otherwise particularly almost every other count given that is generally provided to out of go out-to-time because of the functions hereto.
The Partnership of any Bank might possibly be comparable to no on brand new Commitment Termination Big date
“Charged-Off Rent” form a rental which, in per circumstances, consistent with the Underwriting Procedures, have or should have been authored of Business’s courses while the uncollectable.
“Collateral” means, along, all of the genuine, private and you will blended property (including Capital Inventory) in which Liens is purported to feel supplied pursuant towards Guarantee Files given that coverage for the Personal debt.
“Collateral Data” mode the security Contract, brand new Control Arrangements, this new Promise Agreement, the fresh Borrower Pledge Agreement as well as most other products, data and you will plans delivered by, or for, Business, new Intermediate Vendor or Supplier pursuant to that particular Contract otherwise people of your most other Borrowing Data files, as situation is, to help you give in order to, or prime and only, Management Broker, into advantage of Covered Parties, good Lien toward people real, individual otherwise mixed assets out of Business since the safety towards Loans or to cover otherwise manage the new passion out-of Management Broker or the fresh Safeguarded People therein.
“Range Membership” function a free account with account matter 00000000 in the Xxxxx Fargo Bank, Federal Association regarding name off Organization.
“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 Part 6.6, 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 good 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 Part dos.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.