Loan Supplement Clause Samples
Loan Supplement. From and after the Supplemental Effective Date, Schedule 1 (Form of Loan Supplement) is hereby added to the Loan Agreement in its entirety in the form attached hereto as Schedule 1. From and after the Supplemental Effective Date, all references in the Loan Agreement to the Loan Supplement shall mean the Loan Supplement in the form attached hereto as Schedule 1.
Loan Supplement. A supplement executed by Borrower and Lender and attached to this Agreement which describes the terms and conditions of a Loan.
Loan Supplement. 5.7.1 Upon receipt of a Utilisation Request in accordance with the provisions of this Agreement, the Agent will:
(a) prepare the Loan Supplement for the Loan attributable to the Utilisation and, in consultation with the Borrower, prepare a repayment schedule in respect of such Loan, to be attached as an appendix to the Loan Supplement. Such repayment schedule shall be calculated on the basis that:
(i) on the Final Repayment Date for such Loan, the Borrower will pay to the Agent the Balloon Amount for such Loan; and
(A) other than in respect of any Loan attributable to an Aircraft that, on the Utilisation Date attributable to such Aircraft, is a Quarterly Rent Aircraft, the Borrower will repay such Loan in monthly instalments (or, as the case may be, for the final such instalment to be paid on the Final Repayment Date and for the first instalment to be paid after the relevant Utilisation Date, a pro rata portion thereof) in arrears from the Utilisation Date for such Loan until the Final Repayment Date. The amount of such instalments will be calculated on the basis that the Loan will amortise monthly on an annuity basis, based on an assumed rate equal to the Notional Rate, from the Utilisation Date to the relevant Balloon Amount on the Final Repayment Date; and
(B) in respect of the Loan attributable to any Aircraft that, on the Utilisation Date attributable to such Aircraft, is a Quarterly Rent Aircraft, the Borrower will repay the Loan in quarterly instalments (or, as the case may be, for the final such instalment to be paid on the Final Repayment Date and for the first instalment to be paid after the relevant Utilisation Date, a pro rata portion thereof) in arrears from the Utilisation Date for such Loan until the Final Repayment Date. The amount of such instalments will be calculated on the basis that the Loan will amortise quarterly on an annuity basis, based on an assumed rate equal to the Notional Rate, from the Utilisation Date to the relevant Balloon Amount on the Final Repayment Date; and
(b) procure that an execution version of such Loan Supplement is circulated to the Borrower and each of the Finance Parties one (1) Business Day prior to the Utilisation Date.
5.7.2 The Agent and the Borrower will execute such Loan Supplement on or prior to the Utilisation Date and the Joint Lead Arrangers, each Lender and the Security Trustee hereby authorise the Agent to execute such Loan Supplement on its behalf.
5.7.3 If any partial prepayment of a Loan is mad...
Loan Supplement. 5.7.1 Upon receipt of a Utilisation Request in accordance with the provisions of this Agreement, the Agent will:
(a) prepare the Loan Supplement for the Loan attributable to the Utilisation and, in consultation with the Borrower, prepare a repayment schedule in respect of such Loan, to be attached as an appendix to the Loan Supplement. Such repayment schedule shall be calculated on the basis that:
(i) on the Final Repayment Date for such Loan, the Borrower will pay to the Agent an amount (the “Balloon Amount”) equal to the lowest of:
(A) the Annuity Balloon Amount in respect of such Loan; and
(B) the Maximum Balloon Amount in respect of such Loan, and
(ii) the Borrower will repay the Loan in monthly instalments (or, as the case may be, for the final such instalment to be paid on the Final Repayment Date and, in the case of each Loan other than the First Loan, for the first instalment to be paid after the relevant Utilisation Date, a pro rata portion thereof) in arrears from the Utilisation Date for such Loan until the Final Repayment Date. The amount of such instalments will be calculated on the basis that the Loan will amortise monthly on an annuity basis, based on an assumed rate equal to the Notional Rate, from the Utilisation Date to the relevant Balloon Amount on the Final Repayment Date, and
(b) procure that an execution version of such Loan Supplement is circulated to the Borrower and each of the Finance Parties one (1) Business Day prior to the Utilisation Date.
5.7.2 The Agent and the Borrower will execute such Loan Supplement on or prior to the Utilisation Date and the Arrangers, each Lender and the Security Trustee hereby authorise the Agent to execute such Loan Supplement on its behalf.
5.7.3 If any partial prepayment of a Loan is made pursuant to Clause 8 (Prepayment and Cancellation), the Agent shall in consultation with the Borrower prepare a revised repayment schedule calculated on the same basis as the most recently prepared Repayment Schedule for such Loan but taking into account the relevant partial prepayment and its required manner of application pursuant hereto. The Agent will then promptly send a copy of such revised repayment schedule to the Borrower and to each of the other Finance Parties and upon their receipt of the same, the then existing Repayment Schedule shall be treated as being null and void and the revised repayment schedule shall (in the absence of manifest error) take effect as the Repayment Schedule from the date that ...