Acceleration of Base Equity Commitment Sample Clauses

Acceleration of Base Equity Commitment. Notwithstanding anything contained herein or in any Transaction Document to the contrary, the Base Equity Commitment shall only be accelerated in accordance with this Section 2.5 (Acceleration of Base Equity Commitment.). (a) Following termination of the Concession Agreement as described in this Section 2.5 (Acceleration of Base Equity Commitment.), or in Section 2.6 (Acceleration of Contingent Equity Commitment) the Borrower shall, promptly but in any event within five (5) Business Days from the Borrower’s receipt of the information necessary to provide such certificate, deliver to the Global Administrative Agent a certificate (the “Concession Termination Certificate”) signed by an Authorized Officer of the Borrower, setting forth, along with details of the calculation thereof, the amount certified to be the sum of (i) the actual amount of compensation required to be paid by the MOP pursuant to the terms of the Concession Agreement as a result of its termination and (ii) if applicable, any other compensation received by the Borrower or which the Borrower is entitled to receive (such certificate to include evidence of the Borrower’s right to any such compensation, in form and substance satisfactory to the Global Administrative Agent) (such sum, the “Concession Termination Amount”). In the event that: (A) the Concession Agreement is terminated before the Completion Date as a result of (1) an Event of Default (other than an the Event of Default set forth in Sections 7.1(f) (Expropriation) or 7.1(h)(v) (Event of Force Majeure) of the Common Terms Agreement), (2) a default by the Borrower under the Concession Agreement (in its capacity as “Concessionaire” thereunder) or (3) a default by the EPC Contractor under the EPC Contract, and (B) the Concession Termination Amount is insufficient to pay all outstanding Obligations or has not been certified by the Borrower to the Global Administrative in accordance with this Section 2.5(a), then each Shareholder shall pay to the Global Administrative Agent such Shareholder’s Shareholder Percentage of the Base Equity Commitment that has not yet been contributed to the Borrower pursuant to Sections 2.1(a) (Minimum Equity) and (b) (Additional Equity), to repay in full any shortfall of funds available to pay all outstanding Obligations, after taking into account the Concession Termination Amount (if already certified by the Borrower pursuant to this Section 2.5(a)) (the “Base Equity Acceleration Amount”), which payment shall ...
Sample 1
AutoNDA by SimpleDocs
Acceleration of Base Equity Commitment. Notwithstanding anything contained herein or in any Transaction Document to the contrary, the Base Equity Commitment (and such other amounts constituting the Base Equity Acceleration Amount) shall only be accelerated in accordance with this Section 2.5 (
Sample 1
Acceleration of Base Equity Commitment. Following termination of the Concession Agreement as described in this Section 2.5 (Acceleration of Base Equity Commitment.), or in Section 2.6 (Acceleration of Contingent Equity Commitment) the Borrower shall, promptly but in any event within five (5) Business Days from the Borrower’s receipt of the information necessary to provide such certificate, deliver to the Global Administrative Agent a certificate (the “Concession Termination Certificate”) signed by an Authorized Officer of the Borrower, setting forth, along with details of the calculation thereof, the amount certified to be the sum of (i) the actual amount of compensation required to be paid by the MOP pursuant to the terms of the Concession Agreement as a result of its termination and (ii) if applicable, any other compensation received by the Borrower or which the Borrower is entitled to receive (such certificate to include evidence of the Borrower’s right to any such compensation, in form and substance satisfactory to the Global Administrative Agent) (such sum, the “Concession Termination Amount”). In the event that:
Sample 1
Acceleration of Base Equity Commitment. Upon payment of any portion of the Concession Termination Amount to the Borrower, the Borrower shall apply such amount to the prepayment of the Senior Loans as required pursuant to Section 8.1(a) of the Common Terms Agreement. The Borrower shall be entitled to retain any surplus of the Concession Termination Amount following the payment in full of the Obligations.
Sample 1

Related to Acceleration of Base Equity Commitment

  • Termination Reduction or Increase of the Commitments (a) The Company shall have the right, upon at least three Business Days' notice to the Agent, to terminate in whole or reduce ratably in part the unused portions of the respective Commitments of the Lenders, provided that each partial reduction shall be in the aggregate amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereof and provided further that (x) the aggregate amount of the Commitments of the Lenders shall not be reduced to an amount that is less than the aggregate principal amount of the Competitive Bid Advances then outstanding, and (y) once terminated, a portion of a Commitment shall not be reinstated except pursuant to Section 2.05(c). (b) If any Lender shall make a demand under Section 2.11 or 2.14 or if the obligation of any Lender to make Eurodollar Rate Advances shall have been suspended pursuant to Section 2.12, the Company shall have the right, upon at least ten Business Days' notice, to terminate in full the Commitment of such Lender or to demand that such Lender assign to one or more Persons all of its rights and obligations under this Agreement in accordance with Section 8.

  • Prepayment; termination of Commitment On the Agent notifying the Borrower under Clause 23.2, the Notifying Lender’s Commitment shall terminate; and thereupon or, if later, on the date specified in the Notifying Lender’s notice under Clause 23.1 as the date on which the notified event would become effective the Borrower shall prepay the Notifying Lender’s Contribution in accordance with Clause 8.

  • Termination of Commitment On the service of a notice under paragraph (a) of Clause 18.2, the Commitment and all other obligations of the Lender to the Borrower under this Agreement shall terminate.

  • Termination or Reduction of Aggregate Revolving Commitments The Borrower may, upon notice to the Administrative Agent, terminate the Aggregate Revolving Commitments, or from time to time permanently reduce the Aggregate Revolving Commitments; provided that (i) any such notice shall be received by the Administrative Agent not later than 11:00 a.m. three (3) Business Days prior to the date of termination or reduction, (ii) any such partial reduction shall be in an aggregate amount of $500,000 or any whole multiple of $500,000 in excess thereof, (iii) the Borrower shall not terminate or reduce the Aggregate Revolving Commitments if, after giving effect thereto and to any concurrent prepayments hereunder, the Total Revolving Outstandings would exceed the Aggregate Revolving Commitments and (iv) if, after giving effect to any reduction of the Aggregate Revolving Commitments, the Letter of Credit Sublimit or the Swing Line Sublimit exceeds the amount of the Aggregate Revolving Commitments, such sublimit shall be automatically reduced by the amount of such excess. The Administrative Agent will promptly notify the Lenders of any such notice of termination or reduction of the Aggregate Revolving Commitments. Any reduction of the Aggregate Revolving Commitments shall be applied to the Revolving Commitment of each Lender according to its Applicable Percentage. All fees accrued until the effective date of any termination of the Aggregate Revolving Commitments shall be paid on the effective date of such termination. Notwithstanding anything herein to the contrary, the Borrower may rescind any notice of termination of Aggregate Revolving Commitments under this Section 2.06 if such termination would have resulted from the refinancing of all or a portion of the Loans, which refinancing shall not be consummated or shall otherwise be delayed.

  • Termination and Reduction of Revolving Commitments (a) Unless previously terminated, the Revolving Commitments shall terminate on the Maturity Date. (b) The Borrower may at any time terminate, or from time to time reduce, the Revolving Commitments; provided that (i) each partial reduction of the Revolving Commitments shall be in an amount that is an integral multiple of $1,000,000 and not less than $5,000,000 and (ii) the Borrower shall not terminate or reduce the Revolving Commitments if, after giving effect to any concurrent prepayment of the Loans in accordance with Section 2.08, the sum of the Aggregate Total Exposure would exceed the total Commitments. (c) The Borrower shall notify the Administrative Agent of any election to terminate or reduce the Revolving Commitments under paragraph (b) of this Section at least three Business Days prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly following receipt of any notice, the Administrative Agent shall advise the Lenders of the contents thereof. Each notice delivered by the Borrower pursuant to this Section shall be irrevocable; provided that a notice of termination of the Revolving Commitments delivered by the Borrower may state that such notice is conditioned upon the effectiveness of other credit facilities or another transaction, in which case such notice may be revoked by the Borrower (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied. Any termination or reduction of the Revolving Commitments shall be permanent. Each reduction of the Revolving Commitments shall be applied to the Lenders in accordance with their respective Applicable Percentages. (d) If, after giving effect to any reduction of the Revolving Commitments, the Letter of Credit Sublimit exceeds the amount of the Revolving Commitments, such Letter of Credit Sublimit shall be automatically reduced by the amount of such excess.

  • Termination of Revolving Credit Facility The Revolving Credit Facility and the Revolving Credit Commitments shall terminate on the Revolving Credit Maturity Date.

  • Termination or Reduction of Revolving Commitments The Borrower shall have the right, upon not less than three Business Days’ notice to the Administrative Agent, to terminate the Revolving Commitments or, from time to time, to reduce the amount of the Revolving Commitments; provided that no such termination or reduction of Revolving Commitments shall be permitted if, after giving effect thereto and to any prepayments of the Revolving Loans and Swingline Loans made on the effective date thereof, the Total Revolving Extensions of Credit would exceed the Total Revolving Commitments. Any such reduction shall be in an amount equal to $1,000,000, or a whole multiple thereof, and shall reduce permanently the Revolving Commitments then in effect.

  • Increase of the Commitments (a) The Borrower may, from time to time, request by written notice to the Administrative Agent to increase the Commitments by a maximum aggregate amount for all such increases of up to $200,000,000, by designating one or more Lenders or other financial institutions (that will become Lenders), in each case, reasonably acceptable to the Administrative Agent and acceptable to the Swingline Lender and each LC Issuing Bank, in their respective sole discretion, that agree to accept all or a portion of such additional Commitments (each a “Designated Lender”). (b) The Administrative Agent shall promptly notify the Designated Lenders of the Borrower’s request pursuant to subsection (a) above. Each Designated Lender shall notify the Administrative Agent by the date specified by the Administrative Agent (which date shall be a Business Day) that either (A) such Designated Lender declines to accept its additional Commitments or (B) such Designated Lender consents to accept the offered Commitments. Any Designated Lender not responding on or prior to the date specified by the Administrative Agent shall be deemed to have declined to accept the offered Commitments. The Administrative Agent shall, after receiving the notifications from all of the Designated Lenders or following the date specified in the notice to such Designated Lenders, whichever is earlier, notify the Borrower and the Lenders of the results thereof and the effective date of any additional Commitments. The effectiveness of such additional Commitments shall be subject to the condition precedent that the Borrower shall have delivered to the Administrative Agent (i) the resolutions of the Borrower authorizing such additional Commitments and all Governmental Approvals (if any) required in connection with such additional Commitments, certified as being in effect as of the effective date of such additional Commitments, (ii) a favorable opinion of counsel for the Borrower as to such matters as any Lender through the Administrative Agent may reasonably request and (iii) a certificate signed by a duly authorized officer of the Borrower, dated as of the effective date of such additional Commitments, stating that all conditions precedent to an Extension of Credit have been satisfied on and as of such effective date. (c) Promptly following the effective date of any Commitment increase pursuant to this Section 2.07, (i) the Administrative Agent shall distribute an amended Schedule I to this Agreement (which shall thereafter be incorporated into this Agreement) to reflect any changes in Lenders, the Commitments and each Lender’s Commitment Percentage as of such effective date and (ii) the Borrower shall prepay the outstanding Revolving Borrowings (if any) in full, and shall simultaneously make new Revolving Borrowings hereunder in an amount equal to such prepayment, so that, after giving effect thereto, the Revolving Borrowings are held ratably by the Lenders in accordance with their respective Commitments (after giving effect to such Commitment increase). Prepayments made under this clause (c) shall not be subject to the notice requirements of Section 2.14. (d) Notwithstanding any provision contained herein to the contrary, from and after the date of any Commitment increase and the making of any Loans on such date pursuant to clause (c)(ii) above, all calculations and payments of fees and of interest on the Loans shall take into account the actual Commitment of each Lender and the principal amount outstanding of each Loan made by such Lender during the relevant period of time.

  • Termination of Commitments Declare the Commitments terminated whereupon the Commitments shall be immediately terminated.

  • Termination of Credit Facility The Credit Facility shall terminate on the earliest of (a) the third anniversary of the Closing Date (the "Maturity Date"), (b) the date of termination by the Borrower pursuant to Section 2.5(a) and (c) the date of termination by the Administrative Agent on behalf of the Lenders pursuant to Section 10.2(a).

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!