Shake Shack 2015 Annual Report Download - page 121

“ Lenders ” means the Persons listed on the Schedule 2.01
, and any other Person that shall have become a party hereto pursuant to an Assignment
and Assumption, other than any such Person that ceases to be a party hereto pursuant to an Assignment and Assumption.
“ Letter of Credit ” means any standby letter of credit issued pursuant to this Agreement.
“ LIBO Rate ”
means, with respect to any Eurodollar Borrowing for any Interest Period, a rate per annum equal to (a) the BBA Interest
Settlement Rate per annum at which deposits in Dollars are offered in London, England to prime banks in the London Interbank Market for such Interest
Period as displayed on the Reuters LIBOR01 Page as of 11:00 a.m. (London time) two (2) Business Days before the first day of such Interest Period or
(b) if the rate described in clause (a) does not appear on Reuters LIBOR01 Page on any relevant date of determination, the average of the rates at which
Dollar deposits with a maturity equal to the applicable Interest Period are offered to the lending office of the Administrative Agent in immediately
available funds in the London Interbank Market for Eurodollars at approximately 11:00 a.m., London time, two (2) Business Days prior to the
commencement of such Interest Period.
“ Lien ”
means, with respect to any asset, (a) any mortgage, deed of trust, lien, pledge, hypothecation, encumbrance, charge or security interest in,
on or of such asset, (b) the interest of a vendor or a lessor under any conditional sale agreement, capital lease or title retention agreement (or any
financing lease having substantially the same economic effect as any of the foregoing) relating to such asset and (c) in the case of securities, any purchase
option, call or similar right of a third party with respect to such securities.
“ LLC Agreement ”
means the Third Amended and Restated Limited Liability Company Agreement of the Borrower, dated as of the Effective
Date.
“ Loan Documents ”
means this Agreement, any promissory notes issued pursuant to the Agreement, any Letter of Credit applications, the
Collateral Documents, the Loan Guaranty and all other agreements, instruments, documents and certificates identified in Sections 4.01, 4.02 and 4.03
executed and delivered to, or in favor of, the Administrative Agent or any Lender and including all other pledges, powers of attorney, consents,
assignments, contracts, notices, letter of credit agreements and all other written matter whether heretofore, now or hereafter executed by or on behalf of
any Loan Party, or any employee of any Loan Party, and delivered to the Administrative Agent or any Lender in connection with the Agreement or the
transactions contemplated thereby. Any reference in the Agreement or any other Loan Document to a Loan Document shall include all appendices,
exhibits or schedules thereto, and all amendments, restatements, supplements or other modifications thereto, and shall refer to the Agreement or such
Loan Document as the same may be in effect at any and all times such reference becomes operative.
“ Loan Guaranty ”
means Article X of this Agreement and any other guaranty of the Secured Obligations now or hereafter delivered to the
Administrative Agent.
“ Loan Parties ”
means the Borrower, each Guarantor and any other Person who becomes a party to this Agreement pursuant to a Joinder
Agreement and their successors and assigns.
“ Loans ” means the loans and advances made by the Lenders pursuant to this Agreement.
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