Debt Purchase Transactions Sample Clauses
A Debt Purchase Transactions clause defines the terms under which one party can buy debt obligations from another party. Typically, this clause outlines the process for transferring the rights to receive payments on a loan or other debt instrument, including any necessary notifications, consents, and the mechanics of payment. By establishing clear procedures and requirements for such transactions, the clause facilitates the smooth transfer of debt, ensuring both parties understand their rights and obligations and reducing the risk of disputes.
Debt Purchase Transactions. (a) Notwithstanding any other term of this Agreement or the other Relevant Finance Documents, any Obligor may purchase by way of a Debt Purchase Transaction, a participation in any Advance and any related Commitment where:
(i) such purchase is made for a consideration of less than par; and
(ii) such purchase is made at a time when no Event of Default is continuing. For the avoidance of doubt, no member of the Bank Group that is not an Obligor may purchase by way of a Debt Purchase transaction, or otherwise, any participation in any Advance or any related Commitment.
(b) Notwithstanding any other term of this Agreement or the other Relevant Finance Documents, in relation to any Debt Purchase Transaction entered into by any Obligor pursuant to this Clause 38:
(i) on completion of the relevant Debt Purchase Transaction, the portions of the Advances to which it relates may (at the option of the Company taking account of the tax impact on the Group) be extinguished and, if so extinguished, any related A Facility Repayment Instalments, A1 Facility Repayment Instalments or A2 Facility Repayment Instalments (as applicable) will be reduced pro-rata accordingly;
(ii) such Debt Purchase Transaction and the related extinguishment referred to in paragraph (i) above shall not constitute a prepayment of the Facilities;
(iii) the relevant Obligor shall be deemed to be an entity which fulfils the requirements of Clause 37.5 (Assignments or Transfers by Lenders) to be a New Lender (as defined in such Clause);
(iv) the relevant Obligor shall only be permitted to transfer an Advance to another Obligor;
(v) no member of the Bank Group shall be deemed to be in breach of any provision of Clause 24 (Positive Undertakings) or Clause 25 (Negative Undertakings) solely by reason of such Debt Purchase Transaction;
(vi) Clause 35 (Sharing Among the Relevant Finance Parties) shall not be applicable to the consideration paid under such Debt Purchase Transaction;
(vii) any extinguishment of any part of the Outstandings shall not affect any amendment or waiver which prior to such extinguishment had been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement;
(viii) any Financial Indebtedness subject to any Debt Purchase Transaction shall not be taken into account for purposes of the definitions of “Consolidated Total Debt” and “Consolidated Senior Debt”;
(ix) no profits or losses resulting from Debt Purchase Transactions shall be taken into account fo...
Debt Purchase Transactions. The Facility Agreement will contain provisions to prohibit Obligors/Group Members from purchasing participations under the Facility/Finance Documents and customary provisions dealing with sponsor buy-back (e.g., disenfranchisement provisions).
Debt Purchase Transactions. The Parent shall not, and shall procure that each other member of the Group shall not (i) enter into any Debt Purchase Transaction or (ii) beneficially own all or any part of the share capital of a company that is a Lender or a party to a Debt Purchase Transaction of the type referred to in paragraphs (ii) or (iii) of the definition of Debt Purchase Transaction.
Debt Purchase Transactions. No Obligor shall directly or indirectly enter into any Debt Purchase Transaction or be a Lender or a party to a Debt Purchase Transaction.
Debt Purchase Transactions. Notwithstanding any other term of this Agreement or the other Interim Finance Documents, no Group Company shall be entitled to purchase by way of a Debt Purchase Transaction a participation in any Interim Loan and/or any Interim Commitment.
Debt Purchase Transactions. 261 27. Role of the Agent ...................................................................................................................261 28. Conduct of Business by the Finance Parties ..........................................................................270 29. Sharing among the Finance Parties ........................................................................................271 30.
Debt Purchase Transactions. The provisions set out in this Clause 6 (Intra Group Lenders and Intra Group Liabilities) shall be subject to the provisions of clause 30.1(f) and (g) (Permitted Debt Purchase Transactions) of the Senior Facilities Agreement.
Debt Purchase Transactions