Facility D Loans Clause Samples
The 'FACILITY D LOANS' clause defines the terms and conditions under which a specific category of loans, referred to as Facility D, is made available to the borrower. This clause typically outlines the maximum amount that can be borrowed, the interest rate applicable, repayment schedules, and any special conditions or covenants unique to Facility D. For example, it may specify that Facility D loans are intended for a particular purpose, such as capital expenditures, and may have different collateral requirements compared to other facilities. The core function of this clause is to clearly delineate the rights and obligations of both lender and borrower regarding Facility D, thereby ensuring transparency and reducing the risk of misunderstandings or disputes related to this specific loan facility.
Facility D Loans. Each Facility D ▇▇▇▇▇▇ severally agrees, on the terms and conditions of this Agreement, to make a single term loan to the Company in Dollars on the Effective Date (provided that the same shall occur no later than the Facility D Loan Commitment Termination Date) in a principal amount up to but not exceeding the amount of the Facility D Commitment of such Facility D Lender. On the Effective Date certain outstanding Facility A Loans under the Existing Credit Agreement shall be deemed converted into Facility D Loans hereunder in accordance with Section 2.01(c) of the Existing Credit Agreement; provided that the aggregate principal amount of Facility D Loans made hereunder and Facility D Loans resulting from such conversion shall not exceed the Facility D Commitments. Subject to the terms and conditions of this Agreement, the Company may borrow the amount of the Facility D Commitments by means of Base Rate Loans and/or Eurodollar Loans and thereafter may Convert Facility D Loans of one Type into Facility D Loans of another Type (as provided in Section 2.08 hereof) or Continue Facility D Loans of one Type as Facility D Loans of the same Type (as provided in Section 2.08 hereof).
Facility D Loans. The Company hereby promises to pay to the Agent for account of each Facility D Lender the principal of such ▇▇▇▇▇▇'s Facility D Loan in sixteen installments payable on the Principal Payment Dates as follows, each in an amount equal to such ▇▇▇▇▇▇'s ratable share of the aggregate amount set forth opposite such date: Principal Payment Date Falling on or Nearest To: Amount of Installment ($) ------------------------ ------------------------- December 31, 1999 2,500,000.00 March 31, 2000 2,500,000.00 June 30, 2000 2,500,000.00 September 30, 2000 2,500,000.00 December 31, 2000 2,500,000.00 March 31, 2001 2,500,000.00 June 30, 2001 2,500,000.00 September 30, 2001 2,500,000.00 December 31, 2001 3,750,000.00 March 31, 2002 3,750,000.00 June 30, 2002 3,750,000.00 September 30, 2002 3,750,000.00 December 31, 2002 3,750,000.00 March 31, 2003 3,750,000.00 June 30, 2003 3,750,000.00 September 30, 2003 128,750,000.00
Facility D Loans. Notwithstanding any other provision of this Agreement or any other Finance Document, otherwise than in the case of a Default or in the case of a payment required pursuant to Clause 10.1(a) (Illegality) under no circumstances shall a Canadian Borrower of a Facility D Loan be required to repay more than 25 per cent. of the original principal amount of such Facility D Loan prior to the Facility D Repayment Date.
Facility D Loans