Debt Arrangements Clause Samples
The Debt Arrangements clause defines the terms and conditions under which a party may incur, manage, or restructure debt within the context of the agreement. It typically outlines permissible types of borrowing, sets limits on the amount or nature of debt that can be taken on, and may require notification or approval from the other party before new debt is incurred. This clause serves to protect the interests of the parties by preventing excessive or risky borrowing that could jeopardize the financial stability of the arrangement, thereby allocating risk and ensuring transparency regarding financial obligations.
Debt Arrangements. KCP acknowledges that under the proposed terms of the Stockholders Agreement the Company's ability to repurchase equity of the Management Stockholders will depend on the terms of the Company's debt arrangements. KCP agrees that it will negotiate in good faith to obtain "baskets" under these debt arrangements in form and amounts customary for leveraged acquisition financing agreements.
Debt Arrangements. The Company shall not enter into any further debt arrangements or modify any existing debt arrangements with the Senior Lenders that shall rank senior to the Notes, except with the consent of the Requisite Majority Holders.
Debt Arrangements. The current amounts outstanding under the Debt Documents are set out in the Disclosure Letter and all of the Contracts in respect of the Debt Documents have been duly entered into, have not been modified or terminated except as included in the Disclosure Letter and are in good standing in all material respects and in full force and effect with no amendments. All of the Debt Documents are valid and binding obligations of the parties thereto enforceable in accordance with their respective terms, subject to bankruptcy, insolvency and other Laws affecting creditors’ rights generally and to general principles of equity. Except for the disclosures contained in the Disclosure Letter, C▇▇▇▇▇ Resources has complied with all material terms thereof, has paid all amounts due thereunder, has not waived any rights thereunder and no default or breach exists in respect thereof on the part of any of the parties thereto and no event has occurred which, after the giving of notice or the lapse of time or both, would constitute such a default or breach.
Debt Arrangements. (1) Upon the accession taking effect, the total debts of the central budget of the German Democratic Republic which have accumulated up to this date shall be taken over by a federal Special Fund without legal capacity, which shall meet the obligations arising from debt servicing. The Special Fund shall be empowered to raise loans:
1. to pay off debts of the Special Fund,
2. to cover due interest and loan procurement costs,
3. to purchase debt titles of the Special Fund for the purposes of market cultivation.
(2) The Federal Minister of Finance shall administer the Special Fund. The Special Fund may, in his name, conduct legal transactions, sue and be sued. The general legal domicile of the Special Fund shall be at the seat of the Federal Government. The Federation shall act as guarantor for the liabilities of the Special Fund. […]
Debt Arrangements. (1) Upon the accession taking effect, the total debts of the central budget of the German Democratic Republic which have accumulated up to this date shall be taken over by a federal Special Fund without legal capacity, which shall meet the obligations arising from debt servicing. The Special Fund shall be empowered to raise loans:
1. to pay off debts of the Special Fund,
2. to cover due interest and loan procurement costs,
3. to purchase debt titles of the Special Fund for the purposes of market cultivation.
(2) The Federal Minister of Finance shall administer the Special Fund. The Special Fund may, in his name, conduct legal transactions, ▇▇▇ and be sued. The general legal domicile of the Special Fund shall be at the seat of the Federal Government. The Federation shall act as guarantor for the liabilities of the Special Fund.
(3) From the day the accession takes effect until 31 December 1993 the Federation and the Trust Agency shall each repay one half of the interest payments made by the Special Fund. Repayment shall be made by the first of the month following the month in which the Special Fund has made the payments referred to in the first sentence.
(4) With effect from 1 January 1994 the Federation and the Länder named in Article 1 of this Treaty as well as the Trust Agency shall take over the total debts which have accumulated in the Special Fund up to 31 December 1993 in accordance with Article 27 (3) of the Treaty of 18 May 1990 between the Federal Republic of Germany and the German Democratic Republic Establishing a Monetary, Economic and Social Union. The distribution of the debts shall be settled in detail by a separate law in accordance with Article 34 of the Act of 25 July 1990 concerning the Treaty of 18 May 1990 (Federal Law Gazette 1990 11, p. 518). The portions of the total amount for the Länder named in Article 1 of this Treaty to be taken over by each of the Länder named in Article 1 shall be calculated in relation to their number of inhabitants on the date the accession takes effect, excluding the inhabitants of Berlin (West).
(5) The Special Fund shall be abolished at the end of 1993.
(6) Upon the accession taking effect, the Federal Republic of Germany shall take over the sureties, guarantees and warranties assumed by the German Democratic Republic and debited to its state budget prior to unification. The Länder named in Article 1 (1) of this Treaty and Land Berlin for that part in which the Basic Law has not been in force to date sha...
Debt Arrangements. 1. Credit Agreement with Norrep Credit Opportunities Fund Inc.: ▇▇▇▇▇▇ Resources entered into a credit agreement with Norrep Credit Opportunities Fund Inc., in its capacity as General Partner of Norrep Credit Opportunities Fund II, LP and Norrep Credit Opportunities Fund II (Parallel), LP (“Norrep”) dated April 5, 2013 (the “Norrep Credit Agreement”). Pursuant to the Norrep Credit Agreement, ▇▇▇▇▇▇ Resources borrowed from Norrep the principal amount of $25,000,000. To secure the loan, Norrep was granted a fixed and floating charge security interest in all of the undertaking and property of ▇▇▇▇▇▇ Resources, including: · all accounts; · all chattel paper, instruments, documents of title and intangibles (including, without limitation, all patents, patent applications, trade-marks, trade-▇▇▇▇ applications, tradenames, trade secrets, goodwill, copyrights, registrations, licenses, franchises, customer lists, tax refund claims, claims against carriers and shippers, guarantee claims, contracts rights, security interests, security deposits and any rights to indemnification); · all inventory; · all goods (other than inventory) including equipment, vehicles and fixtures; · all deposits and cash and any other property of ▇▇▇▇▇▇ Resources in the possession, custody or control of the Lender or any agent or any parent, affiliate or subsidiary of the Lender or any participant with the Lender in the loan for any purpose; · all real, immovable and leasehold property of ▇▇▇▇▇▇ Resources and all easements, rights-of-ways, privileges, benefits, licenses, improvements and rights of ▇▇▇▇▇▇ Resources whether connected therewith or appurtenant thereto or separately owned or held, including without limitation, all structures, plants and other fixtures; and · all additions and accessions to, substitutions for, and replacements, products and proceeds of the foregoing property, including without limitation, proceeds of all insurance policies insuring the foregoing property, and all of ▇▇▇▇▇▇ Resources’ books and records relating to any of the foregoing and to ▇▇▇▇▇▇ Resources’ business. Norrep filed with the Ministry of the Economy a notice respecting its security interest against all the Property, along with a demand debenture dated April 5, 2013 detailing the particulars of the security pursuant to the Norrep Credit Agreement. In addition, ▇▇▇▇▇▇ Resources entered into a waiver and credit amendment agreement with Norrep on February 14, 2014 (the “Credit Amendment Agreement”). Pursu...