Description of the credit facility agreement Sample Clauses

Description of the credit facility agreement. On 3 March 2016, the Company, as guarantor, together with a number of parent companies and subsidiaries in the Group (jointly the "Borrowers") entered into a credit facility agreement with SBAB Bank AB (publ) (the "Lender") as lender, under which the Lender undertook to provide the Borrowers with a credit facility to be used for acquisitions, mergers and refinancing purposes. The credit facility amounts to SEK 505,000,000 and is divided into 15 tranches. The tranches are divided up into three types: five refinancing tranches, of which three have been utilised by the subsidiaries to refinance existing debt; five acquisition tranches, of which three have been utilised by the parent companies to finance the acquisitions of the subsidiaries; and five refinancing tranches, which will be utilised following the mergers between the subsidiaries and their respective parent company, in order to refinance the refinancing and acquisition tranches. The acquisition tranches have a term to maturity of 9 months, and the other tranches have a term to maturity of 5 years, with the option to extend the term subject to certain conditions specified in the credit facility agreement and always subject to the Lender's approval. The credit facility bears an interest rate equal to the Lender's funding costs plus a fixed rate margin. The Lender is entitled to, subject to certain conditions, adjust the fixed rate margin for one of the refinancing loans. In addition, the Borrowers are required to compensate the Lender for any costs incurred in connection with the arrangement of the facility or any changes, security measures, stamp duty and other costs provided for in the agreement and that may be incurred by the Lender as a result of providing the credit facility. The credit facility agreement contains certain customary terms and conditions governing the payment of funds under the credit facility, including that the Borrowers must satisfy all conditions precedent agreed under the credit facility agreement, that there are no grounds for termination and there is no risk of the occurrence of any grounds for termination, and that the warranties are accurate in all material respects. The credit facility is conditional on the satisfaction of information covenants, pursuant to which the Borrowers must provide the Lender with the consolidated financial statements of the Group within 120 days after the end of the financial year, together with a compliance certificate in which the Borrowers con...
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Related to Description of the credit facility agreement

  • of the Credit Agreement Section 6.02 of the Credit Agreement is hereby amended as follows:

  • Credit Facilities 22 2.1 Loans....................................................................... 22 2.2 Letters of Credit........................................................... 22 2.3 Commitments................................................................. 25

  • Credit Agreement (a) Capitalized terms used in this Agreement and not otherwise defined herein have the meanings specified in the Credit Agreement. All terms defined in the New York UCC (as defined herein) and not defined in this Agreement have the meanings specified therein; the term “instrument” shall have the meaning specified in Article 9 of the New York UCC.

  • Amendments to Credit Agreement The Credit Agreement is hereby amended as follows:

  • Loan Agreement This Agreement duly executed by Borrower and Lender.

  • Financing Arrangement 5.2.1 The Developer shall at its own cost, expenses and risk make such financing arrangement as would be necessary to implement the Project and to meet all of its obligations under this Agreement, in a timely manner.

  • Assumption of Tariff Obligations Interconnection Customer agrees to abide by all rules and procedures pertaining to generation and transmission in the PJM Region, including but not limited to the rules and procedures concerning the dispatch of generation or scheduling transmission set forth in the Tariff, the Operating Agreement and the PJM Manuals.

  • Amendment of the Agreement The Agreement is hereby amended as follows:

  • Amendment of the Contract (06/19) Any changes to the provisions of this Contract shall be in the form of an Amendment. No provision of this Contract may be amended unless such Amendment is approved as to form by the City Attorney and executed in writing by authorized representatives of the Parties. If the requirements for Amendment of this Contract as described in this section are not satisfied in full, then such Amendments automatically will be deemed null, void, invalid, non-binding, and of no legal force or effect. The City reserves the right to make administrative changes to the Contract unilaterally, such as extending option years and increasing compensation. An administrative change means a written Contract change that does not affect the substantive rights of the Parties.

  • Affirmation of the TBT Agreement 1. Each Party affirms its rights and obligations with respect to each other Party under the TBT Agreement.

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