Intermediation Facility Clause Samples
Intermediation Facility. (a) the ▇. ▇▇▇▇ Intermediation Agreement and (b) any crude oil or other feedstock supply agreements, natural gas supply agreements, hydrogen supply agreements, or off-take agreements relating to intermediate or refined products, in each case entered into by any Future Intermediation Subsidiary and a counterparty for purposes of facilitating a customary intermediation arrangement, together with all related storage agreements, marketing and sales agreements, agency agreements, security agreements, account control agreements, other collateral documents and other ancillary agreements among such parties, in each case as any of the same may be extended, renewed, amended, supplemented, restated, amended and restated or otherwise modified from time to time, or refinanced and/or replaced with another Intermediation Agreement from time to time and in whole or in part; provided that (i) the terms of any Intermediation Facility described in this clause (b) shall be not materially more disadvantageous to the Lenders, taken as a whole, as compared to the terms of the ▇. ▇▇▇▇ Intermediation Agreement in effect on the Closing Date, taken as a whole, as determined in good faith by an Officer of the Company, (ii) no Intermediation Agreement shall provide for any lien on any assets other than Intermediation Collateral, and (iii) none of the Company and its Consolidated Subsidiaries, other than PHR or a Future Intermediation Subsidiary, shall enter into an Intermediation Facility. Intermediation Property: all Hydrocarbons from time to time owned by an Intermediation Counterparty under the terms of an Intermediation Facility. Inventory: as defined in the UCC, including all goods intended for sale, lease, display or demonstration; all work in process; and all raw materials, and other materials and supplies of any kind that are or could be used in connection with the manufacture, printing, packing, shipping, advertising, sale, lease or furnishing of such goods, or otherwise used or consumed in a Borrower’s business (but excluding Equipment).
Intermediation Facility. (a) the ▇. ▇▇▇▇ Intermediation Agreement and (b) any crude oil or other feedstock supply agreements, natural gas supply agreements, hydrogen supply agreements, or off-take agreements relating to intermediate or refined products, in each case entered into by any Future Intermediation Subsidiary and a counterparty for purposes of facilitating a customary intermediation arrangement, together with all related storage agreements, marketing and sales agreements, agency agreements, security agreements, account control agreements, other collateral documents and other ancillary agreements among such parties, in each case as any of the same may be extended, renewed, amended, supplemented, restated, amended and restated or otherwise modified from time to time, or refinanced and/or replaced with another Intermediation Agreement from time to time and in whole or in part; provided that (i) the terms of any Intermediation Facility described in this clause (b) shall be not materially more disadvantageous to the Lenders, taken as a whole, as compared to the terms of the ▇. ▇▇▇▇ Intermediation Agreement in effect on the Closing Date, taken as a whole, as determined in good faith by an Officer of the Company, (ii) no Intermediation Agreement shall provide for any lien on any assets other than Intermediation Collateral, and (iii) none of the Company and its Consolidated Subsidiaries, other than PHR or a Future Intermediation Subsidiary, shall enter into an Intermediation Facility. Intermediation Property: all Hydrocarbons from time to time owned by an Intermediation Counterparty under the terms of an Intermediation Facility. Inventory: as defined in the UCC, including all goods intended for sale, lease, display or demonstration; all work in process; and all raw materials, and other materials and supplies of any kind that are or could be used in connection with the manufacture, printing, packing, shipping, advertising, sale, lease or furnishing of such goods, or otherwise used or consumed in a Borrower’s business (but excluding Equipment).