Common use of IFC as Additional Lender Clause in Contracts

IFC as Additional Lender. (A) In the event that the Additional Commitment is to be provided by IFC, subject to compliance with the provisions of Clause 3.3 (Additional Commitment) and paragraph (B) of Clause 3.5, IFC shall provide its Additional Commitment (the “IFC Commitment”) through a separate tranche, facility or facilities ranking pari passu with the Facility (the “IFC Facility”) details of which, together with any amendments to the Finance Documents as the Original Borrower and IFC (each acting reasonably) consider necessary, shall be provided with the Additional Commitment Notice. (B) Any IFC Commitment shall be provided on substantially the same terms and conditions as the Facility, save that the IFC Facility shall include such additional or alternative terms and conditions as required by IFC’s policies and practices (the rights in relation to which shall not be available to the Finance Parties). (C) In order to rebalance the Commitments and outstandings under the Facility and the IFC Facility to ensure that they are pro rata (the “IFC Rebalancing”), a Borrower will make utilisations under the IFC Facility: (i) in priority to the Facility; or (ii) to effect a prepayment under the Facility (which amount may be redrawn by a Borrower), • at that Xxxxxxxx’s election, in each case to procure, as far as practicable, the IFC Rebalancing, following which all drawings under the IFC Facility and the Facility shall be pro rata.

Appears in 1 contract

Samples: Loan Agreement (Kosmos Energy Ltd.)

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IFC as Additional Lender. (A) In the event that the Additional Commitment is to be provided by IFC, subject to compliance with the provisions of Clause clause 3.3 (Additional Commitment) and paragraph (B) of Clause 3.5), IFC shall may provide its Additional Commitment (the “IFC Commitment”) through a separate tranche, facility or facilities ranking pari passu with the Facility (the “IFC Facility”) details of which, together with any amendments to the Finance Documents as the Original Borrower Kosmos and IFC (each acting reasonably) consider necessary, shall be provided with the Additional Commitment Notice. (B) Any IFC Commitment shall be provided on substantially the same terms and conditions as the Facility, save that the IFC Facility shall include such additional or alternative terms and conditions as required by IFC’s policies and practices (the rights in relation to which shall not be available to the Finance Parties). (C) In order to rebalance the Commitments and outstandings under the Facility and the IFC Facility to ensure that they are pro rata (the “IFC Rebalancing”), a at the Borrower’s election, the Borrower will make utilisations under the IFC Facility: (i) in priority to the Facility; or (ii) to effect a prepayment under the Facility (which amount may be redrawn by a the Borrower), • at that Xxxxxxxx’s election, in each case to procure, as far as practicable, the IFC Rebalancing, following which all drawings under the IFC Facility and the Facility shall be pro rata.

Appears in 1 contract

Samples: Facility Agreement (Kosmos Energy Ltd.)

IFC as Additional Lender. (A) In the event that the Additional Commitment is to be provided by IFC, subject to compliance with the provisions of Clause clause 3.3 (Additional Commitment) and paragraph (B) of Clause 3.5clause 3.5(B), IFC shall provide its Additional Commitment (the "IFC Commitment") through a separate tranche, facility or facilities ranking pari passu with the Facility (the "IFC Facility") details of which, together with any amendments to the Finance Documents as the Original Borrower and IFC (each acting reasonably) consider necessary, shall be provided with the Additional Commitment Notice. (B) Any IFC Commitment shall be provided on substantially the same terms and conditions as the Facility, save that the IFC Facility shall include such additional or alternative terms and conditions as required by IFC’s policies and practices (the rights in relation to which shall not be available to the Finance Parties). (C) In order to rebalance the Commitments and outstandings under the Facility and the IFC Facility to ensure that they are pro rata (the "IFC Rebalancing"), a Borrower will make utilisations under the IFC Facility: (i) in priority to the Facility; or (ii) to effect a prepayment under the Facility (which amount may be redrawn by a Borrower), at that Xxxxxxxx’s election, in each case to procure, as far as practicable, the IFC Rebalancing, following which all drawings under the IFC Facility and the Facility shall be pro rata.

Appears in 1 contract

Samples: Loan Agreement (Kosmos Energy Ltd.)

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IFC as Additional Lender. (A) In the event that the Additional Commitment is to be provided by IFC, subject to compliance with the provisions of Clause clause 3.3 (Additional Commitment) and paragraph (B) of Clause 3.5clause 3.5(B), IFC shall provide its Additional Commitment (the “IFC Commitment”) through a separate tranche, facility or facilities ranking pari passu with the Facility (the “IFC Facility”) details of which, together with any amendments to the Finance Documents as the Original Borrower and IFC (each acting reasonably) consider necessary, shall be provided with the Additional Commitment Notice. (B) Any IFC Commitment shall be provided on substantially the same terms and conditions as the Facility, save that the IFC Facility shall include such additional or alternative terms and conditions as required by IFC’s policies and practices (the rights in relation to which shall not be available to the Finance Parties). (C) In order to rebalance the Commitments and outstandings under the Facility and the IFC Facility to ensure that they are pro rata (the “IFC Rebalancing”), a Borrower will make utilisations under the IFC Facility: (i) in priority to the Facility; or (ii) to effect a prepayment under the Facility (which amount may be redrawn by a Borrower), at that XxxxxxxxBorrower’s election, in each case to procure, as far as practicable, the IFC Rebalancing, following which all drawings under the IFC Facility and the Facility shall be pro rata.

Appears in 1 contract

Samples: Deed of Amendment and Restatement (Kosmos Energy Ltd.)

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