The Mississippi Amended and Restated Credit Agreement is a legal document that outlines the terms and conditions of a credit facility between ADAC Laboratories, various financial institutions, and ABN AFRO Bank. This agreement serves as a binding contract governing the borrowing and repayment of funds for ADAC Laboratories. One type of Mississippi Amended and Restated Credit Agreement is the secured credit agreement. This agreement is backed by collateral provided by ADAC Laboratories, which serves as a form of security for the lenders. The collateral can include assets such as real estate, inventory, or equipment, which can be seized by the lenders in case of default. Another type of Mississippi Amended and Restated Credit Agreement is the unsecured credit agreement. This agreement does not require collateral and is mainly based on the creditworthiness of ADAC Laboratories. A thorough assessment of the company's financial stability is conducted by the lenders before extending credit under this agreement. The Mississippi Amended and Restated Credit Agreement includes various key provisions and terms to protect the interests of the lenders and define the responsibilities of both parties. Some essential details covered in this agreement are: 1. Credit Facility: It specifies the maximum amount of credit that ADAC Laboratories can borrow from the lenders. 2. Interest Rate: The agreement outlines the interest rate charged on the borrowed funds. It can be fixed or variable, depending on the agreed terms. 3. Repayment Schedule: The agreement defines the method and timeline for repaying the borrowed funds. It may include monthly installments or a lump-sum payment at a specified date. 4. Conditions Precedent: These are the conditions that ADAC Laboratories must fulfill before the credit facility can be accessed, such as providing financial statements or obtaining necessary regulatory approvals. 5. Representations and Warranties: ADAC Laboratories makes certain statements regarding the accuracy of its financial information and business operations. These statements, known as representations and warranties, assure the lenders of the company's creditworthiness. 6. Events of Default: The agreement identifies various events that can trigger default, including failure to make payments, breach of covenants, or bankruptcy. It outlines the consequences of default, such as acceleration of debt or imposition of penalties. 7. Covenants: The agreement includes affirmative and negative covenants that ADAC Laboratories must comply with, such as maintaining a certain level of financial ratios, limiting additional debt, or obtaining prior consent for specific actions. The Mississippi Amended and Restated Credit Agreement between ADAC Laboratories, various financial institutions, and ABN AFRO Bank is a legally binding document that ensures a structured borrowing framework. Its terms and conditions provide a clear understanding of the rights and responsibilities of all parties involved, promoting financial stability and mitigating risks.
Mississippi Amended and Restated Credit Agreement between ADAC Laboratories, various financial institution and ABN AMRO Bank
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?Amended? means that the document has ?changed?? that someone has revised the document. ?Restated? means ?presented in its entirety?, ? as a single, complete document. ingly, ?amended and restated? means a complete document into which one or more changes have been incorporated.
Restatement Loan means an Additional Term Loan made under the Commitments issued pursuant to the Restatement Supplement.
Restated Loan means the aggregate Advances made pursuant to the Facility, as the case may be, and all amendments, modifications, increases, decreases, renewals and/or extensions of any one or more of the foregoing.
An amended and restated credit agreement is a credit agreement where one or many changes have been applied and stated within the document. A credit agreement is a legal document that outlines the terms of a loan agreement and is made between a borrower and a lender.
An amended and restated operating agreement is a legal document that outlines any changes (known as amendments) to an original operating agreement between two or more parties. Often used to govern operations of a Limited Liability Company, the agreement is used to redesignate parties and redefine terms.
Restatement Loan has the meaning assigned to that term in subsection 2.1A. Restatement Loan means an Additional Term Loan made under the Commitments issued pursuant to the Restatement Supplement.