Bonding Facility Sample Clauses

Bonding Facility. The Company shall have received a commitment for a bonding facility of at least $50 million on terms acceptable to the Lender.

Bonding Facility. (a) Bidco may cancel the Bonding Commitments in whole or in part (but if in part in a minimum amount of EUR2,500,000) at any time during the Availability Period for the Bonding Facility by giving not less than 5 Business Days irrevocable written notice to that effect to the Facility Agent specifying the date and amount of the proposed cancellation. Any such cancellation shall reduce each Lender’s Bonding Commitment on a pro rata basis. (b) No cancellation of the Bonding Facility may be made if it would result in the aggregate of the Contingent Liability of all the Lenders under Letters of Credit and Lender Guarantees issued under the Bonding Facility at the time of the proposed cancellation exceeding the total Bonding Commitments. (c) Upon any Permitted Disposal, to the extent any Letters of Credit and Lender Guarantees issued in respect of the company, business, assets and/or undertaking being disposed of remain outstanding, Bidco will procure that (A) cash cover is provided by a person other than a member of the Group and without any liability in respect of any member of the Group in an amount equal to the total Contingent Liability of all the Bonding Lenders under such Letters of Credit and Lender Guarantees or (B) bank guarantees, in form and substance satisfactory to the Issuing Lender (acting reasonably), are issued in respect of the full amount of such Letters of Credit and Lender Guarantees for the benefit of the relevant Lenders.

Bonding Facility. The Loan Parties have provided to the Origination Agent a correct and complete copy of all of the Bonding Agreements. The Borrowers and their Subsidiaries have available bonding capacity under one or more Bonding Agreements in an amount sufficient to operate their respective businesses in the ordinary course of business. Each of the Bonding Agreements is in full force and effect and no Authorized Officer has knowledge of any condition that would constitute a default under Section 9.01(p).

Bonding Facility. Unless Purchaser shall have elected otherwise, the Bonding Facility shall remain in effect through and following the Closing until its expiration in accordance with its terms, including with respect to any cash collateral obligations in respect of the Bonding Facility. Notwithstanding whether there have been any demands or payments under any of the bonds issued under the Bonding Facility, Purchaser shall pay to Seller $2,400,000 on the earlier of (a) December 31, 2020 and (b) the date on which the bond identified on Section 6.17 of the Disclosure Schedule is released. For the avoidance of doubt, except as set forth in this Section 6.17, Seller shall not have any rights in respect of any cash collateral held in connection with the Bonding Facility. Such payment shall be made by wire transfer of immediately available funds to an account or accounts designated by Seller in writing at least two (2) Business Days in advance of the payment. Seller shall procure, for itself, its Affiliates and the Acquired Companies, that from and after the execution and delivery of this Agreement through the Closing or the earlier termination of this Agreement, the Bonding Facility shall only be modified or amended, and the guaranteed obligations underlying the Bonding Facility may only be modified or amended, in the ordinary course of business and, in the case of any modification or amendment that would materially increase Purchaser’s obligations as set forth in this Section 6.17, upon the consent of Purchaser (not to be unreasonably withheld, conditioned or delayed); provided that if modification or amendment is requested by the customer to whom the Bonding Facility relates, Seller or its Affiliates, as applicable, may respond to such request in their sole discretion without Purchaser’s consent.

Bonding Facility. The Company shall use its best efforts, as soon as practicable following the Closing, to secure a bonding financing line, similar to the bonding facility that the Company and its Subsidiaries had in place prior to the Closing, that will allow the Company and its Subsidiaries to provide bonds for bonded contracts. The terms of such bonding financing line shall be reasonably satisfactory to the Purchaser.

Bonding Facility. (a) The definition of “Revolving Facility” in Clause 1.1 (Definitions) of the Senior Facilities Agreement shall be amended by deleting the reference to “Clause 2.1(a)(vii)” in that definition and replacing it with “Clause 2.1(a)(viii)”. (b) In respect of Clause 5.1 (Delivery of Drawing Requests) of the Senior Facilities Agreement, sub-paragraph (ii) of paragraph (i) shall be deleted and replaced with the following: “in the case of a Drawing under the Bonding Facility, the expiry date of the Letter of Credit or Lender Guarantee which (aa) must be a date falling no later than 36 months after the Bonding Facility Maturity Date, provided that on the Bonding Facility Maturity Date each Borrower shall fully cash collateralise its indemnity obligations under any Letter of Credit or Lender Guarantee under which a claim may be made after the Bonding Facility Maturity Date and (bb) must not be more than 36 months after the date of issue of such Letter of Credit or Lender Guarantee save in the case of (A) Letters of Credit and Lender Guarantees in an aggregate amount not exceeding EUR45,000,000 (or its equivalent in any other currency) for the Group which may be for a specified or an unspecified period or (B) counter indemnities given by the Issuing Lender to a third party bank in respect of letters of credit and lender guarantees issued by the third party bank at the request of the Issuing Lender where such counter indemnities are unrestricted in time;”