EFFECTIVE DATE OF FACILITY AGREEMENT. The Facility Agreement shall become binding on the Company and ICICI Bank on and from the date first above written. It shall be in full force and effect till all the monies due and payable by the Company under the Facility Agreement and or the LC Outstanding and/or the Bills Outstanding are fully paid off to the satisfaction of ICICI Bank. SCHEDULE—I Due Date Opening Charges 0.35% — Retirement Charges — — Other Charges Amendment charges: Rs. 500/- per LC amended In case of foreign currency Letters of Credit, the following charges will be additional: • SWIFT/communication charges — Rs.500 per LC • Correspondent bank charges including finance charges, if any, shall be charged on actuals. Service tax and other taxes as applicable — Applicable Rate of Interest Nil MARGIN MONEY—Nil SCHEDULE—II SPECIAL CONDITIONS • The Borrower shall get this Facility rated by an external Rating Agency before December 31, 2010 as AA (or equivalent). If the rating is “A+, A or A-” (or equivalent), the LC commission shall be revised to 0.75% p.a. with retrospective effect. If the facility is unrated or if the rating is “BBB+” (or equivalent) or below, the LC commission shall be revised to 1.00% p.a. with retrospective effect. • Financial arrangement for the project to be in place by March 31, 2011 or any other mutually acceptable date to the satisfaction of the Lender failing which • The Sponsor would undertake to bring in adequate support towards the repayment of the Facility or the Borrower would create a debt service reserve account (DSRA) of Rs. 1.00 billion per quarter till the amount in the DSRA is equal to the outstanding under the Facility. • As the Borrower is able to achieve financial closure it will earmark an amount equal to the Facility in favor of the Lender to retire the Facility as and when due and payable. On completion of the above to the satisfaction of the Lender the Lender will issue an NOC for ceding exclusive charge on the assets created as Security for the Facility.

Related to EFFECTIVE DATE OF FACILITY AGREEMENT

Effective Date of Agreement This Agreement shall become effective upon the execution and delivery hereof by the parties hereto.
Effective Date of the Agreement This Agreement will incept on the date hereof, to be effective as of 12:01 A.M., December 15, 2003 and will cover policies effective on and after that date. In addition, THE REINSURER agrees to accept reinsurance coverage for policies backdated to save age up to six months prior to the effective date of this Agreement. The reinsurance coverage for any backdated policies will be effective as of the policy effective date.
EFFECTIVE DATE OF CONTRACT This Contract shall become effective upon signing by the parties hereto. (End of Article)
Credit Agreement Amendments The Credit Agreement is hereby amended as follows:
Effective Date of Amendment This Amendment shall be deemed effective as of the date first written above, as if executed on such date.
Amendment and Restatement of the Existing Credit Agreement The parties to this Agreement agree that, upon (i) the execution and delivery by each of the parties hereto of this Agreement and (ii) satisfaction of the conditions set forth in Section 3.01, the terms and provisions of the Existing Credit Agreement shall be and hereby are amended, superseded and restated in their entirety by the terms and provisions of this Agreement. This Agreement is not intended to and shall not constitute a novation. All loans made and obligations incurred under the Existing Credit Agreement which are outstanding on the Effective Date shall continue as Obligations under (and shall be governed by the terms of) this Agreement and the other Loan Documents. Without limiting the foregoing, upon the effectiveness hereof: (a) all references in the “Loan Documents” (as defined in the Existing Credit Agreement) to the “Agent”, the “Credit Agreement” and the “Loan Documents” shall be deemed to refer to the Agent, this Agreement and the Loan Documents, (b) all obligations constituting “Obligations” with any Lender or any Affiliate of any Lender which are outstanding on the Effective Date shall continue as Obligations under this Agreement and the other Loan Documents, (c) the Agent shall make such reallocations, sales, assignments or other relevant actions in respect of each Lender’s credit and loan exposure under the Existing Credit Agreement as are necessary in order that each such Lender’s outstanding Revolving Credit Advances hereunder reflect such Lender’s Pro Rata Share of the outstanding aggregate Revolving Credit Advances on the Effective Date, (d) the Existing Revolving Credit Advances (as defined in Section 2.01) of each Departing Lender shall be repaid in full (accompanied by any accrued and unpaid interest and fees thereon), each Departing Lender’s “Commitment” under the Existing Credit Agreement shall be terminated and each Departing Lender shall not be a Lender hereunder, and (e) the Borrower hereby agrees to compensate each Lender (including each Departing Lender) for any and all losses, costs and expenses incurred by such Lender in connection with the sale and assignment of any Eurodollar Rate Advances (including the “Eurodollar Rate Advances” under the Existing Credit Agreement) and such reallocation described above, in each case on the terms and in the manner set forth in Section 8.04(c) hereof.
Credit Agreement Amendment The Credit Agreement is hereby amended as follows:
Amendment and Restatement of Existing Credit Agreement Upon the execution and delivery of this Agreement, the Existing Credit Agreement shall be amended and restated to read in its entirety as set forth herein. With effect from and including the Effective Date, (i) the Commitments of each Lender party hereto shall be as set forth on Appendix A (and (a) to the extent that such Lender constitutes a lender under the Existing Credit Agreement (a “Consenting Lender”), such Consenting Lender’s commitment thereunder shall be terminated and replaced with its respective Commitment hereunder and (b) any lender under the Existing Credit Agreement that is not listed on Appendix A shall cease to be a Lender hereunder and its commitment thereunder shall be terminated; provided that, for the avoidance of doubt, such lender under the Existing Credit Agreement shall continue to be entitled to the benefits of Section 9.03 of the Existing Credit Agreement), (ii) all accrued and unpaid interest and fees and other amounts owing under the Existing Credit Agreement shall have been paid by the Borrower under the Existing Credit Agreement, whether or not such interest, fees or other amounts would otherwise be due and payable at such time pursuant to the Existing Credit Agreement, (iii) the Commitment Ratio of the Consenting Lenders shall be redetermined based on the Commitments set forth in the Appendix A and the participations of the Consenting Lenders in, and the obligations of the Consenting Lenders in respect of, any Letters of Credit or Swingline Loans outstanding on the Effective Date shall be reallocated to reflect such redetermined Commitment Ratio and (iv) each JLA Issuing Bank shall have the Fronting Sublimit set forth in Appendix B. Section 9.18
Reimbursement Agreement The Sponsor entered into an Expense Reimbursement Agreement (“Reimbursement Agreement”) substantially in the form annexed as an exhibit to the Registration Statement pursuant to which the Sponsor has committed to fund the Company up to $1,750,000 for the Company’s expenses relating to investigating and selecting a target business and other working capital requirements prior to an initial Business Combination.
Amendment to Existing Credit Agreement Subject to the occurrence of the Second Amendment Effective Date (as hereinafter defined), the Existing Credit Agreement is amended in accordance with this Article II.

EFFECTIVE DATE OF FACILITY AGREEMENT Sample Clauses

Filter & Search

Sub-Clauses

Related Clauses

Related to EFFECTIVE DATE OF FACILITY AGREEMENT