The rights and remedies of the Agents and the Lenders provided herein and in the other Loan Documents are cumulative and are in addition to, and not exclusive of, any rights or remedies provided by law. The rights of the Agents and theLenders under any Loan Document against any party thereto are not conditional or contingent on any attempt by the Agents and the Lenders to exercise any of their rights under any other Loan Document against such party or against any other Person. This ARTICLE XI shall continue to be effective or be reinstated, as the case may be, if at any time any payment of any of theGuaranteed Obligations is rescinded or must otherwise be returned by the Agents, the Lenders, the Bank Product Providers, the L/C Issuer or any other Person upon the insolvency, bankruptcy or reorganization of any Borrower or otherwise, all asthough such payment had not been made.
“Bankruptcy Code” means (i) theUnited States Bankruptcy Code (11 U.S.C. § 101, et seq.), as amended, and any successor statute and (ii) such other applicable rules, laws or statutes of any Government Authority or court of a jurisdiction outside of theUnited States of America relating to bankruptcy, insolvency, assignments for the benefit of creditors, formal or informal moratoria, compositions, or extensions generally with creditors, or proceedings seeking reorganization, arrangement, or othersimilar relief, as amended and in effect top 5 places to find a wordpress developer from time to time, and any successor rule, law or statute. If a company does not fulfill its financial agreement with another company, the consequences will depend on the specific terms of the agreement and the applicable laws. Some potential consequences may include reputation damage, legal action, financial penalties, and termination of the agreement. Use this financial agreement template to create a legally binding contract that outlines the terms and conditions of a financial arrangement between two or more parties.
“Consolidated Current Liabilities” means at any date, without duplication, (i) theconsolidated current liabilities of Ultimate Parent and its Subsidiaries plus (ii) all guaranty obligations of Ultimate Parent or any consolidated Subsidiary of Ultimate Parent in respect of the current liabilities of any Person (other thanUltimate Parent or a consolidated Subsidiary of Ultimate Parent), determined as of such date. “Consolidated Adjusted Working Capital” means at any date the excess of(i) Consolidated Current Assets (excluding (a) deferred tax assets and (b) cash and Cash Equivalents classified as such in accordance with GAAP) over (ii) Consolidated Current Liabilities (excluding (a) deferred taxliabilities and (b) the current portion of any Consolidated Funded Indebtedness); provided however that Consolidated Adjusted Working Capital shall be calculated without giving effect to any Consolidated Current Assets or ConsolidatedCurrent Liabilities acquired or assumed in any Permitted Acquisition consummated during the applicable period to the extent financed with Indebtedness, Equity Issuances of Parent, or Reinvestment Eligible Funds. “Capitalized Lease Obligations” means, with respect to any Person, obligations of such Person and its Subsidiaries underCapitalized Leases, and, for purposes hereof, the amount of any such obligation shall be the capitalized amount thereof determined in accordance with GAAP. “Bank” means PNC, its successors or any other bank designated by theAdministrative Agent to the Administrative Borrower from time to time.
If the Borrower defaults on the repayment of the Loan Amount or any interest owed, the Lender may immediately demand full payment of the outstanding balance and any late fees. The Borrower shall also be responsible for paying any costs of collection, including reasonable attorneys’ fees, incurred by the Lender in enforcing this Agreement. Clearly state the terms of the agreement, including the duration of the agreement, the amount of the loan or financial assistance being provided, and the purpose of the funds. A financial contract is a deal in the form of an independently arranged agreement, contract, or an option to sell, buy, swap, lend, or repurchase, or some other similar independently arranged transaction that is typically entered into between parties participating in the financial markets. A financial agreement (also known as a binding financial agreement) is a written agreement or contract between two parties that sets out how the parties would like to divide their financial resources if the relationship comes to an end. LegalMatch is an online legal matching service that connects clients with experienced lawyers in various practice areas, including contract law and finance law.
- Prior to the effective date of such replacement, the Holdout Lender and each Replacement Lender shall execute and deliver an Assignment and Acceptance, subject only to the Holdout Lender beingrepaid its share of the outstanding Obligations without any premium or penalty of any kind whatsoever.
- Shall provide its services and meet its obligations under this Contract in a timely and workmanlike manner, using knowledge and recommendations for performing the services which meet generally acceptable standards in ’s community and region, and will provide a standard of care equal to, or superior to, care used by service providers similar to on similar projects.
- “Post-Term Letter of Credit” has the meaning specified therefor in Section 3.02(d) hereof.
- “ERISA” means the Employee Retirement Income Security Act of 1974, as amended, and any successor statute of similar import,and regulations thereunder, in each case, as in effect from time to time.
LegalMatch’s platform allows clients to submit their legal issues and receive responses from multiple lawyers who are interested in taking their cases. In this case, Lisa has suffered losses due to the lender’s misrepresentation regarding the fixed interest rate. She may be able to seek a damages award to compensate for the financial harm caused by the lender’s wrongful conduct. Depending on the specific circumstances, the damages could include the additional interest paid, the lost profits from the contracts, and any other consequential damages suffered by Lisa’s business as a result of the lender’s misrepresentation.
What kind of financial consultant should use a Financial Service Contract?
All employees, agents or others engaged by Service Provider in its performance of its duties under this Agreement are and shall remain the employees oragents of Service Provider, and nothing contained in this Agreement or otherwise shall be construed to imply any responsibility of SPML for their actions or otherwise. This agreement shall continue in force for a fixed term of one (1) year from the date hereof unless terminated earlier under the provisions of thisSection 4.2. At the end of the fixed term, this Agreement shall renew automatically for additional one (1) year terms, unless terminated earlier pursuant to this Section 4. For and in consideration of the full and faithful performance and completion of the stipulated work by the Service Provider in accordance with the termsand conditions agreed upon, SPML agrees to pay to Service Provider a Service Fee. There can also be other provisions such as a non-compete clause or exclusivity provision in this document. It’s important to note that not all states require FSAs, so check with each state’s regulations before drafting one.
Financing Agreement
Futures contracts identify the quantity and quality of the item being exchanged. There are thousands of these contracts exchanged on a daily basis, and, therefore, they are issued in a standardized format to streamline the process. For example, https://www.topforexnews.org/brokers/alphabetic-online-retail-forex-broker-list/ Lisa, a business owner, enters into a finance agreement with a lender to obtain funds for purchasing new equipment for her company. Due to his desperation for funds, Tom signs the agreement without fully understanding the terms.
Prior to the effective date of such replacement, the Defaulting Lender shall execute and deliver an Assignmentand Acceptance, subject only to the Defaulting Lender being repaid its share of the outstanding Obligations without any premium or penalty of any kind whatsoever. If the Defaulting Lender shall refuse or fail to execute and deliver any suchAssignment and Acceptance prior to the effective date of such replacement, the Defaulting Lender shall be deemed to have executed and delivered such Assignment and Acceptance. The replacement of any Defaulting Lender shall be made in accordance withthe terms of Section 12.07.
Financial Services Agreement
(a) The Agents shall have no duties or responsibilities except those expresslyset forth in this Agreement or in the other Loan Documents. The duties of the Agents shall be mechanical and administrative in nature. The Agents shall not have by reason of this Agreement or any other Loan Document a fiduciary relationship inrespect of any Lender. Nothing in this Agreement or any other Loan Document, express or implied, is intended to or shall be construed to impose upon the Agents any obligations in respect of this Agreement or any other Loan Document except asexpressly set forth herein or therein. Each Lender shall make its own independent investigation of the financial condition and affairs of the Loan Parties in connection with the making and the continuance of the Loans hereunder and shall make itsown appraisal of the creditworthiness of the Loan Parties and the value of the Collateral, and the Agents shall have no duty or responsibility, either initially or on a continuing basis, to provide any Lender with any credit or other informationwith respect thereto, whether coming into their possession before the initial Loan hereunder or at any time or times thereafter, provided that, upon the reasonable request of a Lender, each Agent shall provide to such Lender any documents or reportsdelivered to such Agent by the Loan Parties pursuant to the terms of this Agreement or any other Loan Document. If any Agent seeks the consent or approval of the Required Lenders to the taking or refraining from taking any action hereunder, suchAgent shall send notice thereof to each Lender.
Notwithstanding the foregoing, after the occurrence and during the continuance of an Event of Default,prepayments required under Section 2.05(c) shall continue to be applied in the manner set forth in this Section 2.05(d), unless the Administrative Agent has elected to, or has been directed by the Collateral Agent to, apply payments and otherproceeds of Collateral in accordance with Section 4.03(b), in which case prepayments required under Section 2.05(c) shall be applied in the manner set forth in Section 4.03(b). All interest and fees shall be computed on the basis of a year of 360 days (except that interest on Reference Rate shallbe computed on the basis of a year of 365 days (or 366 days in a leap year)) for the actual number of days, including the first day but excluding the last day, elapsed. (iv) The aggregate principal amount of all Loans andLetter of Credit Obligations outstanding at any time to the Borrowers shall not exceed the Total Commitment.
This Agreement may be executed in any number of counterparts and by different parties hereto inseparate counterparts, each of which shall be deemed to be an original, but all of which taken together shall constitute one and the same agreement. Delivery of an executed counterpart of this Agreement by telefacsimile or electronic mail shall beequally as effective as delivery of an original executed counterpart of this Agreement. Any party delivering an executed counterpart of this Agreement by telefacsimile or electronic mail also shall deliver an original executed counterpart of thisAgreement but the failure to deliver an original executed counterpart shall not affect the validity, enforceability, and binding effect of this Agreement. (i) Each Agent, Administrative Borrower and Administrative Borrower may, in its https://www.day-trading.info/best-market-timing-indicator-stock-market-forecast/ discretion, agree to accept notices and other communicationsto it hereunder by electronic communications pursuant to procedures approved by it; provided that approval of such procedures may be limited to particular notices or communications. Notices and other communications to the Lenders and the L/CIssuer hereunder may be delivered or furnished by electronic communication (including e-mail and Internet or intranet websites) in accordance with clause (b)(ii) below or otherwise pursuant to proceduresapproved by the Agents, provided that the foregoing shall not apply to notices to any Lender or the L/C Issuer pursuant to ARTICLE II and ARTICLE III if such Lender or the L/C Issuer, as applicable, has notified the Agents that it isincapable of receiving notices under such Article by electronic communication.
This Agreement This Agreement may be terminated by either party upon days prior written notice to the other party. The Assignor (a) representsand warrants that (i) it is the legal and beneficial owner of the interest being assigned by it hereunder and that such interest is free and clear of any adverse claim and (ii) it has full power and authority, and has taken all actionnecessary, to execute and deliver this Assignment Agreement and to consummate the transactions contemplated hereby; (b) makes no representation or warranty and assumes no responsibility with respect to any statements, warranties orrepresentations made in or in connection with the Loan Documents or the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Loan Documents or any other instrument or document furnished pursuant thereto; and(c) makes no representation or warranty and assumes no responsibility with respect to the financial condition of any Loan Party or the performance or observance by any Loan Party of any of its obligations under the Loan Documents or any otherinstrument or document furnished pursuant thereto. All notices and other communications provided for hereunder shallbe in writing and shall be mailed (by certified mail, postage prepaid and return receipt requested), telecopied or delivered by hand, Federal Express or other reputable overnight courier, if to the Additional [Borrower][Guarantor], to it at itsaddress set forth below its signature to this Agreement, and if to any Borrower, any Guarantor, any Lender or any Agent, to it at its address specified in the Financing Agreement or Joinder Agreement (as applicable); or as to any such Person at suchother address as shall be designated by such Person in a written notice to such other Person complying as to delivery with the terms of this Section 4.
Prior to the registration of assignment or sale of any Registered Loan (and the registered note, if any, evidencing the same), the Agents shall treat the Person in whose name such RegisteredLoan (and the registered note, if any, evidencing the same) is registered on the Register as the owner thereof for the purpose of receiving all payments thereon, notwithstanding notice to the contrary. (ii) Unless the Administrative Agent otherwise prescribes, (A) notices and othercommunications sent to an e-mail address shall be deemed received upon the sender’s receipt of an acknowledgement from the intended recipient (such as by the “return receipt requested” function,as available, return e-mail or other written acknowledgement), and (B) notices or communications posted to an Internet or intranet website shall be deemed received upon the deemed receipt by the intendedrecipient, at its e-mail address as described in the foregoing clause (A), of notification that such notice or communication is available and identifying the website address therefor; providedthat, for both clauses (A) and (B) above, if such notice, email or other communication is not sent during the normal business hours of the recipient, such notice or communication shall be deemed to have been sent at the opening of business onthe next business day for the recipient. With respect to its Pro Rata Share of the Total Commitment hereunder and the Loans made by it, each Agent shall have and may exercise the same rights and powers hereunder and is subject to the same obligations and liabilities asand to the extent set forth herein for any other Lender or maker of a Loan. The terms “Lenders” or “Required Lenders” or any similar terms shall, unless the context clearly otherwise indicates, include each Agent in itsindividual capacity as a Lender or one of the Required Lenders. Each Agent and their Affiliates may accept deposits from, lend money to, and generally engage in any kind of banking, trust or other business with any Borrower as if it were not actingas an Agent pursuant hereto without any duty to account to the other Lenders.
