The Washington Amended and Restated Credit Agreement is a legally binding contract that outlines the terms and conditions of a financial arrangement between ADAC Laboratories, various financial institutions, and ABN AFRO Bank. This agreement is specifically crafted to facilitate credit transactions and provide financing solutions for ADAC Laboratories. The main objective of the Washington Amended and Restated Credit Agreement is to specify the rights and obligations of all parties involved, ensuring clarity and mutually beneficial terms. This agreement serves as a framework for the extension of credit facilities, granting ADAC Laboratories access to funds required for operational activities, expansion plans, or other strategic initiatives. Some key elements covered in the Washington Amended and Restated Credit Agreement include: 1. Parties Involved: The agreement clearly identifies the primary parties as ADAC Laboratories, various financial institutions, and ABN AFRO Bank. The specific financial institutions participating in the agreement may vary depending on the terms negotiated. 2. Credit Facility: The agreement outlines the total amount of credit available to ADAC Laboratories, which may be in the form of a revolving credit line or a term loan. The agreement may also specify any limitations or conditions regarding the utilization of the credit facility. 3. Interest Rates and Fees: The agreement outlines the interest rates charged on the credit facility and any associated fees, such as origination fees or commitment fees. It may specify the calculation methods for interest and fees, ensuring transparency. 4. Repayment Terms: The agreement defines the repayment terms, including the repayment schedule, method of payment, and any grace periods or penalties for defaulting on payments. This section aims to establish a clear framework for ADAC Laboratories' repayment obligations. 5. Security and Collateral: The agreement may address the requirement for ADAC Laboratories to provide collateral or security for the credit facility. It could outline the acceptable forms of collateral, such as accounts receivable, inventory, or property, which serve to reduce the lender's risk. 6. Representations and Warranties: This section includes statements made by ADAC Laboratories regarding its financial condition, compliance with laws and regulations, and the absence of legal disputes or liabilities that could adversely affect its ability to fulfill its obligations under the agreement. 7. Covenants: The agreement may contain various covenants that ADAC Laboratories must adhere to throughout the term of the credit facility. These covenants could include financial ratio requirements, restrictions on certain activities, reporting obligations, and maintenance of adequate insurance coverage. It's important to note that there may be different types or versions of the Washington Amended and Restated Credit Agreement between ADAC Laboratories, various financial institutions, and ABN AFRO Bank, depending on specific negotiations and ongoing modifications. These versions could differ in terms of the credit amount, interest rates, collateral requirements, or any other negotiated provisions.
Washington Amended and Restated Credit Agreement between ADAC Laboratories, various financial institution and ABN AMRO Bank
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Amendment Payment means the replacement cost of this Transaction were this Transaction being terminated and replaced with the amended transaction on the amended terms on the date on which it is being amended.
If a lender or a borrower needs changes made to the original loan agreement, they will use a loan amendment to outline the terms and conditions of those modifications. Loan amendments are permanent changes and can include items such as the loan's interest rate, changing the length of terms, and the repayment schedule.
Credit Amendment means, with respect to any Collateral Obligation, any waiver, modification, amendment or variance that, in the Collateral Manager's judgment (i) is necessary to prevent the related Collateral Obligation from becoming a Defaulted Obligation or (ii) due to the materially adverse financial condition of ...
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.
If you believe your credit information (anything in the Contract Data area or the Performance Data area of your credit report) is incorrect, incomplete or not up to date, you may request an amendment with your lender directly or request an amendment to the Central Credit Register.