Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one hundred fifty million Euro (EUR 150,000,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 of this Agreement (“Loan”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II of Schedule 1 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one percent (1.0%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. The Payment Dates are April 15 and October 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of Schedule 2 to this Agreement. (a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan from a Variable Rate to a Fixed Rate, or vice versa; and (ii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate. (b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines. (c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II of Schedule 1 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one hundred fifty and twenty million Euro Unites States dollars (EUR 150,000,000US$120,000,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“the Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“the Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The interest payable by the Borrower on the principal amount of the Loan withdrawn and outstanding from time to time for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. For purposes of paragraph 43 of the General Conditions, the “Fixed Spread” for the initial Loan currency in effect at 12:01 a.m. Washington, D.C time, one calendar day prior to the date of the Loan Agreement is .05%. The Payment Dates are April 15 May 1 and October 15 November 1 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of amortization schedule set forth in Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c4.05(c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II IV of Schedule 1 2 to this Agreement.
2.08. NOPWASD is designated as the representative of the Borrower for the purpose of taking any action required or permitted to be taken under the provisions of Section 2.02 of this Agreement and Article II of the General Conditions.
2.09. The Borrower represents that it has designated its Ministry of Finance for the purpose of handling on behalf of the Borrower, debt service payments with respect of the Loan.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one hundred fifty thirty seven million Euro Dollars (EUR 150,000,000$37,000,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 of this Agreement (“Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five onethree-hundredths fourths of one per cent percent (0.753/4 of 1%) per annum from on the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General ConditionsUnwithdrawn Loan Balance, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one percent (1.0%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. In the event that the Borrower selects not to capitalize the Front-end Fee, the Borrower shall pay the Front-end Fee not later than 60 days after the Effective Date. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. The Payment Dates are April 15 January 1 and October 15 July 1 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of amortization schedule set forth in Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II IV of Schedule 1 2 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend extend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, a Loan in the amount of two hundred million United States Dollars (USD 200,000,000) to assist in financing the project described in Schedule 1 to this Agreement (“Project”), consisting of the following:
(a) a non-concessional portion of the Loan in an amount of one hundred fifty forty one million Euro one hundred thousand United States Dollars (EUR 150,000,000), USD 141,100,000) as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 of this Agreement (“Non-Concessional Portion of the Loan”); and
(b) a concessional portion of the Loan in an amount of fifty eight million nine hundred thousand United States Dollars (USD 58,900,000) (“Concessional Portion of the Loan”).
2.02. The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable All withdrawals from the Loan Account shall be deposited by the Bank into an account specified by the Borrower shall be equal and acceptable to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to timeBank.
2.03. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver Non-Concessional Portion of a portion of such fee as may be determined the Loan.
(a) The Commitment Charge payable by the Bank from time Borrower shall be equal to time. one quarter of one percent (0.25%) per annum on the Unwithdrawn Balance of the Non-Concessional Portion of the Loan.
(b) The Commitment Charge shall not be applied to the Concessional Portion of the Loan.
(a) The interest payable by the Borrower on the Non-Concessional Portion of the Loan for each Interest Period shall be at a rate equal to LIBOR the Reference Rate for the Loan Currency plus the Fixed Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion .
(b) The Concessional Portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount Loan shall be determined in accordance with the relevant provisions of Article IV of the General Conditionsmade available on a non- reimbursable basis.
2.06. The Payment Dates are April May 15 and October November 15 in each year.
2.07. The principal amount of the Non-Concessional Portion of the Loan shall be repaid in accordance with the provisions of amortization schedule set forth in Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan from a Variable Rate to a Fixed Rate, or vice versa; and (ii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II of Schedule 1 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one billion and one hundred fifty million Euro dollars (EUR 150,000,000$1,100,000,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“Loan”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II of Schedule 1 to this Agreement. The Commitment Charge payable by Borrower’s Representative for purposes of taking any action required or permitted to be taken pursuant to this Section is the Borrower shall be equal to seventy- five one-hundredths Borrower’s Secretary of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to timeFinance. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject . The Borrower shall pay the Front-end Fee not later than 60 days after the Effective Date. The Borrower shall pay to any waiver of a portion of such fee as may be determined by the Bank from time to timea transaction fee at a rate of 0.02 percent per annum. The transaction fee is expressed as a percentage per annum on the outstanding loan amount and is payable monthly. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02 (d) of the General Conditions. The Payment Dates are April 15 and October 15 in the 15th of each yearcalendar month. The principal amount of the Loan shall be repaid in accordance with the provisions of amortization schedule set forth in Schedule 2 to this Agreement.
(a) The Borrower may at any time time, in each case with the prior no-objection of the Guarantor, through the Secretariat of the National Treasury of the Guarantor’s Ministry of Finance, request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II of Schedule 1 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one four hundred fifty million Euro Dollars (EUR 150,000,000$400,000,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR the Reference Rate for the Loan Currency plus the Fixed Variable Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02 (e) of the General Conditions. The Payment Dates are April March 15 and October September 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding from a Variable Rate to a Fixed Rate, or vice versa, or from a Variable Rate based on a Variable Spread to a Variable Rate based on a Fixed Spread; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 4.05 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II IV of Schedule 1 2 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one two hundred fifty seventy million Euro Dollars (EUR 150,000,000$270,000,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 of this Agreement (“Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five onethree-hundredths fourths of one per cent percent (0.753/4 of 1%) per annum from on the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General ConditionsUnwithdrawn Loan Balance, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one percent (1.0%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. In the event that the Borrower selects not to capitalize the Front-end Fee, the Borrower shall pay the Front-end Fee not later than 60 days after the Effective Date. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. The Payment Dates are April 15 and October 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II of Schedule 1 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one hundred and fifty million Euro United States Dollars (EUR US$150,000,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR the Reference Rate for the Loan Currency plus the Fixed Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to timeVariable Spread ; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02 (e) of the General Conditions. The Payment Dates are April 15 May 15th and October 15 November 15th in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of the amortization schedule set forth in Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent effective debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding from a Variable Rate to a Fixed Rate, or vice versa, or from a Variable Rate based on a Variable Spread to a Variable Rate based on a Fixed Spread; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II of Schedule 1 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one four million and five hundred fifty million Euro thousand Euros (EUR 150,000,000), 4,500,000) as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02 (d) of the General Conditions. The Payment Dates are April 15 1 and October 15 1 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 4.05 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II IV of Schedule 1 2 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one five hundred fifty million Euro Dollars (EUR 150,000,000$500,000,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“Loan”), to assist in financing the project described in Schedule 1 to the Financing Agreement (“Project”).
2.02. The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this the Financing Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time.
2.03. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time.
2.04. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR the Reference Rate for the Loan Currency plus the Fixed Variable Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non- payment continues for a period of thirty (30) days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02(e) of the General Conditions.
2.05. The Payment Dates are April June 15 and October December 15 in each year.
2.06. The principal amount of the Loan shall be repaid in accordance with the provisions of amortization schedule set forth in Schedule 2 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: :
(i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding from a Variable Rate to a Fixed Rate, or vice versa, or from a Variable Rate based on a Variable Spread to a Variable Rate based on a Fixed Spread; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c4.05(c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II IV of Schedule 1 2 to this the Financing Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one hundred fifty and thirteen million Euro Dollars (EUR 150,000,000$113,000,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Variable Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02 (d) of the General Conditions. The Payment Dates are April June 15 and October December 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of amortization schedule set forth in Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 4.05 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II IV of Schedule 1 2 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one two hundred fifty twenty million Euro United States Dollars (EUR 150,000,000US$220,000,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“Loan”), to assist in financing Part 1 of the project described in Schedule 1 to this Agreement (“Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by . The Borrower shall pay the Bank from time to timeFront-end Fee not later than sixty (60) days after the Effective Date. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Variable Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty (30) days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02(d) of the General Conditions. The Payment Dates are April 15 1 and October 15 1 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II of Schedule 1 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one two hundred fifty thirty million Euro Dollars (EUR 150,000,000$230,000,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02 (d) of the General Conditions. The Payment Dates are April 15 and October 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of amortization schedule set forth in Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II IV of Schedule 1 2 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, Agreement the amount of one hundred fifty sixty nine million two hundred thousand Euro (EUR 150,000,000€169,200,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“Loan”), to assist in financing of the project described in Schedule 1 to this Agreement (“Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by . The Borrower shall pay the Bank from time to timeFront-end Fee not later than 60 days after the Effective Date. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; Variable Spread provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02 (d) of the General Conditions. The Payment Dates are April March 15 and October September 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of amortization schedule set forth in Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II of Schedule 1 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one four hundred fifty and five million Euro Dollars (EUR 150,000,000), $405,000,000) as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“the Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; Variable Spread provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty (30) days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02(d) of the General Conditions. The Payment Dates are April 15 1 and October 15 1 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of amortization schedule set forth in Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c4.05(c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II IV of Schedule 1 2 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one hundred twelve million six hundred fifty million Euro thousand Dollars (EUR 150,000,000$112,650,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by . The Borrower shall pay the Bank from time to timeFront-end Fee not later than sixty (60) days after the Effective Date. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR the Reference Rate for the Loan Currency plus the Fixed Variable Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty (30) days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02 (e) of the General Conditions. The Payment Dates are April 15 1 and October 15 1 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of amortization schedule set forth in Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or un-withdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding from a Variable Rate to a Fixed Rate, or vice versa, or from a Variable Rate based on a Variable Spread to a Variable Rate based on a Fixed Spread; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II of Schedule 1 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one two hundred fifty million Euro Dollars (EUR 150,000,000$200,000,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 of this Agreement (the “Loan”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II of Schedule 1 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five onethree-hundredths fourths of one per cent percent (0.753/4 of 1%) per annum from on the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General ConditionsUnwithdrawn Loan Balance, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one percent (1.0%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The Borrower shall pay the Front-end Fee not later than sixty days after the Effective Date. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. The Payment Dates are April March 15 and October September 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of Schedule 2 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II of Schedule 1 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of a one hundred and fifty million Euro United States Dollars (EUR US$150,000,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR the Reference Rate for the Loan Currency plus the Fixed Variable Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02 (e) of the General Conditions. The Payment Dates are April February 15 and October August 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of amortization schedule set forth in Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding from a Variable Rate to a Fixed Rate, or vice versa, or from a Variable Rate based on a Variable Spread to a Variable Rate based on a Fixed Spread; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II of Schedule 1 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one hundred fifty thirty million Euro Dollars (EUR 150,000,000), $30,000,000) as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“the Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“the Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Variable Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty (30) days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02(d) of the General Conditions. The Payment Dates are April 15 May 1 and October 15 November 1 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of amortization schedule set forth in Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c4.05(c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II IV of Schedule 1 2 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, : (a) the amount of one hundred fifty million Euro (EUR 150,000,000€50,000,000) (the “Loan A”); and (b) the amount of fifty million Euro ((€50,000,000) (the “Loan B”), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 of this Agreement (the Loan A and Loan B shall collectively constitute the “Loan”), to assist in financing Part B of the project described in Schedule 1 to this Agreement (“Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five onethree-hundredths fourths of one per cent percent (0.753/4 of 1%) per annum from on the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General ConditionsUnwithdrawn Loan Balance, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one percent (1.0%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. The Payment Dates are April 15 March15 and October 15 September15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of Schedule 2 amortization schedules set forth in Schedules 3-A and 3-B to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of Conditions, the Conversion GuidelinesGuidelines and the Currency Conversion Letter.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II IV of Schedule 1 2 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one hundred and fifty million Euro Dollars (EUR $150,000,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Variable Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty (30) days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02(d) of the General Conditions. The Payment Dates are April March 15 and October September 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of amortization schedule set forth in Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c4.05(c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II IV of Schedule 1 2 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one hundred fifty $35,000,000 (thirty five million Euro (EUR 150,000,000), Dollars) as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“Project”).
2.02. The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time
2.03. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by . The Borrower shall pay the Bank from time to timeFront-end Fee not later than 60 days after the Effective Date.
2.04. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02 (d) of the General Conditions.
2.05. The Payment Dates are April June 15 and October December 15 in each year.
2.06. The principal amount of the Loan shall be repaid in accordance with the provisions of Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: :
(i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
2.08. Without limitation upon the provisions of paragraph (ca) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which of Section 2.07 of this Agreement and unless otherwise notified by the Borrower has requested that the premium be paid out of the proceeds of the Loan, to the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c) the provisions of the Conversion Guidelines, the interest rate basis applicable to the aggregate principal amount of the Loan withdrawn during each Interest Period shall be changed from the initial Variable Rate to a Fixed Rate for the full maturity of such amount in accordance with the provisions of Article IV of the General Conditions up to and of the amount allocated from time to time for the purpose in the table in Section II of Schedule 1 to this AgreementConversion Guidelines.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one hundred fifty twenty five million Euro Dollars (EUR 150,000,000$25,000,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by . The Borrower shall pay the Bank from time to time. Front-end Fee not later than 60 days after the Effective Date The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02 (d) of the General Conditions. The Payment Dates are April February 15 and October August 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II of Schedule 1 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one seventy seven million eight hundred fifty million Euro twenty two thousand United States Dollars (EUR 150,000,000$77,822,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by . The Borrower shall pay the Bank from time to timeFront-end Fee not later than sixty (60) days after the Effective Date. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Variable Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty (30) days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02(d) of the General Conditions. The Payment Dates are April 15 March 1 and October 15 September 1 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II of Schedule 1 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the an amount of equal to one hundred fifty million Euro Dollars (EUR 150,000,000$100,000,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Variable Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty (30) days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02(d) of the General Conditions. The Payment Dates are April May 15 and October November 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of amortization schedule set forth in Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II of Schedule 1 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one twenty three million six hundred fifty million Euro thousand Euros (EUR 150,000,00023,600,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Variable Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02 (d) of the General Conditions. The Payment Dates are April June 15 and October December 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of amortization schedule set forth in Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 4.05 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II IV of Schedule 1 2 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one sixty-nine million and seven hundred fifty million Euro thousand Dollars (EUR 150,000,000$69,700,000) (“Loan”), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement, to assist in financing the project described in Schedule 1 to this Agreement (“LoanProject”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount. On or promptly after the Effectiveness Date, subject to any waiver of a portion of such fee as may be determined by the Bank shall, on behalf of the Borrower, withdraw from time to timethe Loan Account and pay itself the amount of said fee. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02 (d) of the General Conditions. The Payment Dates are April January 15 and October July 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of amortization schedule set forth in Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding from a Variable Fixed Rate to a Fixed Variable Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 4.05 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II IV of Schedule 1 2 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one five hundred fifty million Euro dollars (EUR 150,000,000$500,000,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“Loan”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II of Schedule 1 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one half of one percent (1.00.50%) of the Loan amount. If, subject at the Borrower’s request and on such terms and conditions as the Bank may agree, the Closing Date is extended, the fee payable by the Borrower for each extension of the Closing Date shall be at the rate of one quarter of one percent (0.25%) of the amount of the Loan available for withdrawal upon such extension. If the Borrower elects to any waiver capitalize the fee from the Loan, the Bank shall, on behalf of a portion of the Borrower, withdraw from the Loan Account and pay to itself such amounts required to pay such fee. If the Borrower elects to pay the fee from its own resources, the Borrower shall pay such fee as may be determined not later than sixty (60) days after the date of the notice given by the Bank from time to timethe Borrower confirming the extension of the Closing Date. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR the Reference Rate for the Loan Currency plus the Fixed Variable Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty (30) days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02(e) of the General Conditions. The Payment Dates are April 15 and October 15 in each year. The .
(a) Except as otherwise provided in paragraph (b) of this Section, the principal amount of the Loan shall be repaid in accordance with the provisions of Schedule 2 to this Agreement.
(b) The Borrower may at the time of requesting a Withdrawal also request repayment provisions different from those set out in Schedule 2 to this Agreement for such Withdrawal, provided that: (i) the average maturity of such Withdrawal does not exceed eighteen (18) years from the Withdrawal Date and the final maturity of such Withdrawal does not exceed thirty (30) years from the Withdrawal Date (or such other average maturity and/or final maturity as may be generally applicable to loans made by the Bank to the Borrower at the time of such agreement); and (ii) such repayment provisions have been agreed between the Borrower and the Bank prior to the Withdrawal Date of such Withdrawal.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding from a Variable Rate to a Fixed Rate, or vice versa, or from a Variable Rate based on a Variable Spread to a Variable Rate based on a Fixed Spread; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c4.05(c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II of Schedule 1 to this Agreement. At any time prior to the Closing Date, the Borrower may, by notice to the Bank, refund any amount of the Withdrawn Balance for the purpose of re-crediting such amount to the Loan Account for further withdrawals. Upon such refund, the repayment schedule shall be adjusted on a pro rata basis, on terms and conditions acceptable to the Bank. Without limitation upon the provisions of Section 5.08 of the General Conditions (renumbered as such pursuant to paragraph 3 of Section II of the Appendix to this Agreement and relating to Cooperation and Consultation), the Borrower shall promptly furnish to the Bank such information relating to the provisions of this Article II as the Bank may, from time to time, reasonably request.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one twenty-nine million five hundred fifty million Euro thousand Dollars (EUR 150,000,000$29,500,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02 (d) of the General Conditions. The Payment Dates are April May 15 and October November 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of amortization schedule set forth in Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 4.05 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II IV of Schedule 1 2 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of five hundred one million two hundred fifty million Euro sixty thousand Dollars (EUR 150,000,000$501,260,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 of this Agreement (“Loan”). The Borrower may cause NAFIN (pursuant to the Contrato xx Xxxxxxx) to withdraw the proceeds of the Loan in support of the Program in accordance with Section II of Schedule 1 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- to: (i) eighty five one-hundredths of one per cent (0.750.85%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, Conditions to but not including the fourth anniversary of such date; and (ii) seventy five one-hundredths of one per cent (0.75%) per annum thereafter; subject in either case to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one percent (1.0%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. The Payment Dates are April February 15 and October August 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of amortization schedule set forth in Schedule 2 to this Agreement.
(a) The Borrower may cause NAFIN (pursuant to the Contrato xx Xxxxxxx) to, at any time time, request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II IV of Schedule 1 2 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of $100,000,000 (one hundred fifty million Euro (EUR 150,000,000Dollars), as such amount may be converted converted, from time to time time, through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“Loan”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II of Schedule 1 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Spread. Notwithstanding the foregoing, subject to if any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the LoanWithdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty days, then the interest payable by the Borrower during the Conversion Period on such amount shall instead be determined calculated as provided in accordance with the relevant provisions of Article IV Section 3.02 (d) of the General Conditions. The Payment Dates are April May 15 and October November 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of amortization schedule set forth in Schedule 2 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
2.08. Without limitation upon the provisions of paragraph (ca) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which of Section 2.07 of this Agreement and unless otherwise notified by the Borrower has requested that to the premium be paid out Bank in accordance with the provisions of the proceeds of the LoanConversion Guidelines, the Bank shall, on behalf of the Borrower, withdraw interest rate basis applicable to consecutive withdrawals from the Loan Account and pay which in the aggregate equal $100,000,000 (one hundred million Dollars) shall be converted from the initial Variable Rate to itself a Fixed Rate for the amounts required to pay any premium payable full maturity of such amount in accordance with Section 4.04 (c) the provisions of the General Conditions up to and of the amount allocated from time to time for the purpose in the table in Section II of Schedule 1 to this AgreementConversion Guidelines.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one hundred fifty eighteen million Euro Dollars (EUR 150,000,000$18,000,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“Project”).
2.02. The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time
2.03. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time.
2.04. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR the Reference Rate for the Loan Currency plus the Fixed Variable Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02 (e) of the General Conditions.
2.05. The Payment Dates are April March 15 and October September 15 in each year.
2.06. The principal amount of the Loan shall be repaid in accordance with the provisions of amortization schedule set forth in Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; and (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding from a Variable Rate to a Fixed Rate, or vice versa; and (ii) the setting of limits on the , or from a Variable Rate applicable based on a Variable Spread to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest a Variable Rate Cap or Interest Rate Collar based on the Variable Ratea Fixed Spread.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II of Schedule 1 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees Upon execution of this Agreement Lender hereby loans to lend to Borrower the amount of U.S. $66,700 and Lender will, upon request from Borrower, on in Lender's sole and exclusive discretion, consider lending a similar amount at each of thirty (30) days and sixty (60) days from the terms and conditions set forth or referred to in date of this Agreement, the up to a maximum amount of one hundred fifty million Euro U.S.$200,100.00 (EUR 150,000,000), all sums loaned to Company herein shall be referred to as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 of this Agreement (“Loan”"Loan Amount"). The Loan Amount is to be repaid as follows:
(i) The Loan Amount, with accrued interest, shall be payable in full upon the earlier of (i) first receipt by the Company of any monies from a Company IPO or (ii) 6 months from the date first written above, provided, that, Borrower may withdraw shall have the proceeds privilege of prepaying the whole or any part of the monies owing hereunder at any time without notice or bonus.
(ii) Interest will accrue, from the period commencing from the date of actual advance of the Loan Amount, until the repayment thereof in support full, and both before and after maturity (whether due by scheduled maturity, by required payment, by acceleration, by demand or otherwise), at the rate of interest equal to 22% per annum (the Program in accordance with Section II of Schedule 1 to this Agreement"Interest"). The Commitment Charge payable by accrued Interest will be repaid at the Borrower shall be equal to seventy- five one-hundredths time of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions repayment of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one percent (1.0%) part or all of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to timeAmount. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Spread, subject to payable net of any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal taxes payable under applicable law.
(iii) The full amount of this loan with accrued Interest shall be repaid no later than March 30, 1997.
(iv) Notwithstanding anything to the Loancontrary contained herein, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. The Payment Dates are April 15 and October 15 in each year. The principal full amount of the Loan Amount, together with accrued Interest, shall be repaid in accordance with the provisions of Schedule 2 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: immediately due and payable upon (i) a change the filing by or against Borrower of any petition for the interest rate basis applicable to all liquidation or any portion dissolution of the principal amount of the Loan from a Variable Rate to a Fixed Rateits business, or vice versa; and (ii) the setting commencement by Borrower of limits on any action to liquidate or dissolve its business, or (iii) a general assignment by Borrower for the Variable Rate applicable to all benefit of its creditors, or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap (iv) Borrower's failure or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required inability to pay any premium payable in accordance with Section 4.04 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II of Schedule 1 to this Agreementits debts as they become due.
Appears in 1 contract
Samples: Loan Agreement (TTR Inc)
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one two hundred fifty and twenty million Euro Dollars (EUR 150,000,000$220,000,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 of this Agreement (“Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five onethree-hundredths fourths of one per cent percent (0.753/4 of 1%) per annum from on the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General ConditionsUnwithdrawn Loan Balance, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one percent (1.0%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. The Payment Dates are April March 15 and October September 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of amortization schedule set forth in Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II IV of Schedule 1 2 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of thirty six million and one hundred fifty million Euro thousand US Dollars (EUR 150,000,000US$36,100,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. amount The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Variable Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02 (d) of the General Conditions. The Payment Dates are April 15 January 15, and October July 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of amortization schedule set forth in Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II of Schedule 1 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one seven million five hundred fifty million Euro thousand Dollars (EUR 150,000,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 of this Agreement $7,500,000) (“Loan”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II of Schedule 1 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five onethree-hundredths fourths of one per cent percent (0.753/4 of 1%) per annum from on the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General ConditionsUnwithdrawn Loan Balance, subject to any waiver of a portion of such charge charges as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one percent (1.01.00%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. The Payment Dates are April 15 and October 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of amortization schedule set forth in Schedule 2 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
2.09. Without limitation upon the provisions of paragraph (ca) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which of Section 2.08 of this Agreement and unless otherwise notified by the Borrower has requested that to the premium be paid out Bank in accordance with the provisions of the proceeds of the LoanConversion Guidelines, the Bank shall, on behalf of the Borrower, withdraw any amount withdrawn from the Loan Account and pay shall be converted from Dollars to itself South African Rand for the amounts required full maturity of such amount with effect from the Conversion Date, such Conversion to pay any premium payable be carried out in accordance with Section 4.04 (c) the terms and conditions of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II of Schedule 1 to this AgreementCurrency Conversion Letter.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one hundred fifty fifteen million Euro United States Dollars (EUR 150,000,000US$115,000,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by . The Borrower shall pay the Bank from time to timeFront-end Fee not later than sixty (60) days after the Effective Date. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the IBRD General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty (30) days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02(d) of the IBRD General Conditions. The Payment Dates are April 15 and October 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the IBRD General Conditions, and shall be effected in accordance with the provisions of Article IV of the IBRD General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II of Schedule 1 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, : (a) the amount of one hundred fifty sixty million Euro (EUR 150,000,000), €60,000,000) and; (b) the amount of forty-eight million and fifty six thousand Dollars ($48,056,000) as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 of this Agreement (“Loan”), to assist in financing Part A of the project described in Schedule 1 to this Agreement (“Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five onethree-hundredths fourths of one per cent percent (0.753/4 of 1%) per annum from on the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General ConditionsUnwithdrawn Loan Balance, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one percent (1.0%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. The Payment Dates are April 15 March15 and October September 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of amortization schedule set forth in Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of Conditions, the Conversion GuidelinesGuidelines and the Currency Conversion Letter.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II IV of Schedule 1 2 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one hundred fifty ten million Euro dollars (EUR 150,000,000), $10,000,000) as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“the Loan”), to assist in financing Part A.2 of the project described in Schedule 1 to this Agreement (“the Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR the Reference Rate for the Loan Currency plus the Fixed Variable Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty (30) days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02(d) of the General Conditions. The Payment Dates are April 15 January 1 and October 15 July 1 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of amortization schedule set forth in Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding from a Variable Rate to a Fixed Rate, or vice versaversa or from a Variable Rate based on a Variable Spread to a Variable Rate based on a Fixed Spread; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c4.05(c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II IV of Schedule 1 2 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one hundred and fifty million Euro Dollars (EUR $150,000,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR the Reference Rate for the Loan Currency plus the Fixed Variable Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty (30) days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02(e) of the General Conditions. The Payment Dates are April March 15 and October September 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of amortization schedule set forth in Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding from a Variable Rate to a Fixed Rate, or vice versa, or from a Variable Rate based on a Variable Spread to a Variable Rate based on a Fixed Spread; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c4.05(c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II IV of Schedule 1 2 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the an amount of one two hundred fifty and thirty two million Euro United States Dollars (EUR 150,000,000$232,000,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty (30) days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02(d) of the General Conditions. The Payment Dates are April May 15 and October November 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of amortization schedule set forth in Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c4.05(c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II IV of Schedule 1 2 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one six million five hundred fifty million Euro thousand Euros (EUR 150,000,0006,500,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Variable Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02 (d) of the General Conditions. The Payment Dates are April 15 1 and October 15 1 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of amortization schedule set forth in Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 4.05 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II IV of Schedule 1 2 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one eleven million seven hundred fifty million Euro thousand Dollars (EUR 150,000,000$11,700,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II III of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02 (d) of the General Conditions. The Payment Dates are April 15 and October 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II III of Schedule 1 2 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one nineteen million three hundred fifty million Euro thousand Euros (EUR 150,000,000€19,300,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Variable Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02 (d) of the General Conditions. The Payment Dates are April March 15 and October September 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; and (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding from a Variable Rate to a Fixed Rate, or vice versa; and (ii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II of Schedule 1 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one hundred fifty sixty four million Euro Dollars (EUR 150,000,000US$64,000,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02 (d) of the General Conditions. The Payment Dates are April 15 and October 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 4.05 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II IV of Schedule 1 2 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one hundred fifty million Euro Dollars (EUR 150,000,000$100,000,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“Loan”), to assist in financing the Project. The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by Unless the Borrower Borrower’s representative designated in Section 6.01 of this Agreement otherwise informs the Bank, the Borrower’s Representative for purposes of taking any action required or permitted to be taken pursuant to this Section is the Director General of BANSEFI, or the Director General Adjunto de Banca Institucional of BANSEFI or any person or persons whom such representative shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue designate in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to timewriting. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR the Reference Rate for the Loan Currency plus the Fixed Variable Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02 (e) of the General Conditions. The Payment Dates are April 15 March15 and October September 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding from a Variable Rate to a Fixed Rate, or vice versa, or from a Variable Rate based on a Variable Spread to a Variable Rate based on a Fixed Spread; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 4.05 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II IV of Schedule 1 2 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one hundred fifty sixty million Euro United States Dollars (EUR 150,000,000US$60,000,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount. On or promptly after the Effectiveness Date, subject to any waiver of a portion of such fee as may be determined by the Bank shall, on behalf of the Borrower, withdraw from time to timethe Loan Account and pay itself the amount of said fees. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Variable Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02 (d) of the General Conditions. The Payment Dates are April May 15 and October November 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of amortization schedule set forth in Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding from a Variable Fixed Rate to a Fixed Variable Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) . Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II of Schedule 1 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one thirty six million eight hundred fifty million thousand Euro (EUR 150,000,000€36,800,000) (“Loan”), as such amount may be converted from time to time through a Currency Conversion currency conversion in accordance with the provisions of Section 2.08 of this Agreement, to assist in financing the project described in Schedule 1 to this Agreement (“LoanProject”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five onethree-hundredths fourths of one per cent percent (0.753/4 of 1%) per annum from on the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General ConditionsUnwithdrawn Loan Balance, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one percent (1.0%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. The Payment Dates are April February 15 and October August 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: :
(i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency;
(ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan from a Variable Rate to a Fixed Rate, or vice versa; and and
(iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II IV of Schedule 1 2 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of eight hundred one hundred fifty million Euro Dollars (EUR 150,000,000$801,000,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“Loan”), to assist in financing the project described in Schedule 1 to the Financing Agreement (“Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this the Financing Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR the Reference Rate for the Loan Currency plus the Fixed Variable Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty (30) days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02(e) of the General Conditions. The Payment Dates are April May 15 and October November 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of set forth in the Schedule 2 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding from a Variable Rate to a Fixed Rate, or vice versa, or from a Variable Rate based on a Variable Spread to a Variable Rate based on a Fixed Spread; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium . Each such Conversion shall be paid carried out of the proceeds of the Loan, on such terms and conditions as may be separately agreed by the Bank shall, on behalf of and the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II of Schedule 1 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one eighteen million nine hundred fifty million Euro thousand Dollars (EUR 150,000,000$18,900,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the 2007 General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02 (d) of the 2007 General Conditions. The Payment Dates are April January 15 and October July 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of amortization schedule set forth in Schedule 2 3 to this Agreement.
(a) The Borrower may at any time time, in each case with the prior no-objection of the Guarantor and through the Guarantor’s Secretariat of National Treasury, request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II IV of Schedule 1 2 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one hundred fifty and ten million Euro Dollars, (EUR 150,000,000$110,000,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR the Reference Rate for the Loan Currency plus the Fixed Variable Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty (30) days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02 (e) of the General Conditions. The Payment Dates are April January 15 and October July 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of amortization schedule set forth in Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding from a Variable Rate to a Fixed Rate, or vice versa, or from a Variable Rate based on a Variable Spread to a Variable Rate based on a Fixed Spread; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II of Schedule 1 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one hundred fifty forty nine million Euro Dollars (EUR 150,000,000$49,000,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.09 of this Agreement (“Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five onethree-hundredths fourths of one per cent percent (0.753/4 of 1%) per annum from on the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General ConditionsUnwithdrawn Loan Balance, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one percent (1.0%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. The Payment Dates are April May 15 and October November 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II IV of Schedule 1 2 to this Agreement.
2.09. Without limitation upon the provisions of paragraph (a) of Section 2.08 of this Agreement and unless otherwise notified by the Borrower to the Bank in accordance with the provisions of the Conversion Guidelines, the interest rate basis applicable to consecutive withdrawals from the Loan Account which in the aggregate equal forty nine million Dollars ($49,000,0000) shall be converted from the initial Variable Rate to a Fixed Rate for the full maturity of such amount in accordance with the provisions of the General Conditions and of the Conversion Guidelines.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one hundred fifty ninety million Euro (EUR 150,000,000)dollars, as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 of this Agreement (“Loan”) to assist in financing the project described in Schedule 1 to this Agreement (“Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- to: (i) eighty five one-hundredths of one per cent (0.750.85%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, Conditions to but not including the fourth anniversary of such date; and (ii) seventy five one-hundredths of one per cent (0.75%) per annum thereafter; subject in either case to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one percent (1.0%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The Borrower shall pay the Front-end Fee not later than 60 days after the Effective Date. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. The Payment Dates are April June 15 and October December 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II IV of Schedule 1 2 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one four million five hundred fifty million Euro thousand Euros (EUR 150,000,0004,500,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 of this Agreement (the “Loan”), to assist in financing the project described in Schedule 1 to this Agreement (the “Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02 (d) of the General Conditions. The Payment Dates are April 15 May 1 and October 15 November 1 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of amortization schedule set forth in Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c) of the General Conditions up to the amount allocated from time to time for the such purpose in the table in Section II of Schedule 1 2 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one three hundred fifty million Euro seven hundred sixty thousand Dollars (EUR 150,000,000$300,760,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 of this Agreement (“Loan”). The Borrower may cause NAFIN (pursuant to the Contrato xx Xxxxxxx) to withdraw the proceeds of the Loan in support of the Program in accordance with Section II of Schedule 1 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- to: (i) eighty five one-hundredths of one per cent (0.750.85%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, Conditions to but not including the fourth anniversary of such date; and (ii) seventy five one-hundredths of one per cent (0.75%) per annum thereafter; subject in either case to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one percent (1.0%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. The Payment Dates are April February 15 and October August 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of amortization schedule set forth in Schedule 2 to this Agreement.
(a) The Borrower may cause NAFIN (pursuant to the Contrato xx Xxxxxxx) to, at any time time, request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II B of Schedule 1 to this Agreement.
2.09. Without limitation upon the provisions of Section 5.10 of the General Conditions, the Borrower shall promptly furnish to the Bank such information relating to the provisions of this Article II as the Bank may, from time to time, reasonably request.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of fifty nine million one hundred fifty million Euro twenty four thousand dollars (EUR 150,000,000$59,124,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“the Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“the Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR the Reference Rate for the Loan Currency plus the Fixed Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; Variable Spread provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty (30) days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02(e) of the General Conditions. The Payment Dates are April 15 May 1 and October 15 November 1 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of amortization schedule set forth in Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding from a Variable Rate to a Fixed Rate, or vice versa, or from a Variable Rate based on a Variable Spread to a Variable Rate based on a Fixed Spread; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c4.05(c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II IV of Schedule 1 2 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one hundred fifty million Euro Dollars (EUR 150,000,000$100,000,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“Loan”), to assist in financing Part A of the project described in Schedule 1 to this Agreement (“Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Variable Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawal Loan Balance remains unpaid when due and such non-payment continues for a period of thirty (30) days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02(d) of the General Conditions. The Payment Dates are April June 15 and October December 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of set forth in Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c4.05(c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II IV of Schedule 1 2 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one two hundred fifty twenty million Euro Dollars (EUR 150,000,000$220,000,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“Loan”), to assist in financing the Project. The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by Unless the Borrower Borrower’s representative designated in Section 6.01 of this Agreement otherwise informs the Bank, the Borrower’s representative for purposes of taking any action required or permitted to be taken pursuant to this Section is the Director de Organismos Financieros Internacionales of NAFIN or any person or persons whom such representative shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue designate in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to timewriting. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Variable Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02 (d) of the General Conditions. The Payment Dates are April June 15 and October December 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of Schedule 2 3 to this Agreement.
(a) The Borrower may (or may cause NAFIN) at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower (or NAFIN at the request of the Borrower) has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 4.05 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II IV of Schedule 1 2 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one six million five hundred fifty million Euro thousand Dollars (EUR 150,000,000$6,500,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 of this Agreement (“Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five onethree-hundredths fourths of one per cent percent (0.753/4 of 1%) per annum from on the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, Unwithdrawn Loan Balance; subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one percent (1.0%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. In the event that the Borrower selects not to capitalize the Front-end Fee, the Borrower shall pay the Front-end Fee not later than 60 days after the Effective Date. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. The Payment Dates are April 15 and October 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of amortization schedule set forth in Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II IV of Schedule 1 2 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one four hundred fifty three million Euro (EUR 150,000,000€403,000,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.09 of this Agreement (“Loan”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II of the Schedule 1 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to: (i) eighty five one-hundredths of one per cent (0.85%) per annum from the date on which the Commitment Charge commences to seventy- accrue, in accordance with the provisions of Section 3.01 of the General Conditions, to but not including the fourth anniversary of such date; and (ii) seventy five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditionsthereafter;, subject in either case to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one percent (1.0%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The Borrower shall pay the Front-end Fee not later than sixty (60) days after the Effective Date. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, provided that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. The Payment Dates are April March 15 and October September 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of Schedule 2 to this Agreementfull on March 15, 2016.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c) of the General Conditions up Conditions.
2.09. Without limitation upon the provisions of paragraph (a) of Section 2.08 of this Agreement and unless otherwise notified by the Borrower to the Bank in accordance with the provisions of the Conversion Guidelines, the interest rate basis applicable to the aggregate principal amount allocated of the Loan withdrawn during each Interest Period shall be changed from time the initial Variable Rate to time a Fixed Rate for the purpose full maturity of such amount in accordance with the table in Section II provisions of Schedule 1 to this AgreementArticle IV of the General Conditions and of the Conversion Guidelines.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one hundred and fifty four million Euro Dollars, (EUR 150,000,000$154,000,000) (“Loan”), as such amount may be converted from time to time through a Currency Conversion assist in accordance with financing the provisions cost of Section 2.08 of the project described in Schedule 1 to this Agreement (“LoanProject”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 2 to this Agreement: (a) in respect of Part 1 of the Project as financing (reimbursement and advances) for part of the Eligible Expenditures incurred by the Borrower under the Eligible Expenditure Programs; (b) in respect of Part 2 of the Project to finance (reimbursement and advances) the Eligible Expenditures incurred by the Borrower; and (c) in respect of the Front-End Fee referred to in Section 2.03 of this Agreement. The Commitment Charge payable by the Borrower shall Borrower’s representative for purposes of taking any action required or permitted to be equal taken pursuant to seventy- five one-hundredths this Section is its Secretary of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to timePlanning and Management. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Variable Spread. Notwithstanding the foregoing, subject to if any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the LoanWithdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty days, then the interest payable by the Borrower during the Conversion Period on such amount shall instead be determined calculated as provided in accordance with the relevant provisions of Article IV Section 3.02 (d) of the General Conditions. The Payment Dates are April 15 and October 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of amortization schedule set forth in Schedule 2 3 to this Agreement.
(a) The Borrower may at any time time, in each case with the prior no-objection of the Guarantor, through the Secretariat of the National Treasury of the Guarantor’s Ministry of Finance, request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 4.05 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II IV of Schedule 1 2 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one hundred fifty thirty two million Euro Dollars (EUR 150,000,000), $32,000,000) as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one percent quarter of one per cent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by . The Borrower shall pay the Bank from time to timeFront-end Fee not later than sixty (60) days after the Effective Date. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty (30) days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02 (d) of the General Conditions. The Payment Dates are April May 15 and October November 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of amortization schedule set forth in Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
. Without limitation upon the provisions of paragraph (ca) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which of Section 2.07 of this Agreement and unless otherwise notified by the Borrower has requested that the premium be paid out of the proceeds of the Loan, to the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c) the provisions of the Conversion Guidelines, the interest rate basis applicable to the aggregate principal amount of the Loan withdrawn during each Interest Period shall be changed from the initial Variable Rate to a Fixed Rate for the full maturity of such amount in accordance with the provisions of Article IV of the General Conditions up to and of the amount allocated from time to time for the purpose in the table in Section II of Schedule 1 to this AgreementConversion Guidelines.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one five hundred fifty million Euro Dollars (EUR 150,000,000$500,000,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“Loan”), to assist in financing the project described in Schedule 1 to the Financing Agreement (“Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this the Financing Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR the Reference Rate for the Loan Currency plus the Fixed Variable Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty (30) days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02(e) of the General Conditions. The Payment Dates are April June 15 and October December 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of amortization schedule set forth in Schedule 2 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding from a Variable Rate to a Fixed Rate, or vice versa, or from a Variable Rate based on a Variable Spread to a Variable Rate based on a Fixed Spread; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c4.05(c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II IV of Schedule 1 2 to this the Financing Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one hundred fifty thirty million Euro Dollars (EUR 150,000,000$30,000,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 of this Agreement (“Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II III of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- to: (i) eighty five one-hundredths of one per cent (0.750.85%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, Conditions to but not including the fourth anniversary of such date; and (ii) seventy five one-hundredths of one per cent (0.75%) per annum thereafter; subject in either case to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one percent (1.0%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The Borrower shall pay the Front-end Fee not later than 60 days after the Effective Date. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. The Payment Dates are April May 15 and October November 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of amortization schedule set forth in Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II of Schedule 1 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one sixteen million five hundred fifty million thousand Euro (EUR 150,000,000€16,500,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR the Reference Rate for the Loan Currency plus the Fixed Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02 (e) of the General Conditions. The Payment Dates are April May 15 and October November 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) , namely a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding from a Variable Rate to a Fixed Rate, or vice versa; and (ii) the setting of limits on the , or from a Variable Rate applicable based on a Variable Spread to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest a Variable Rate Cap or Interest Rate Collar based on the Variable Ratea Fixed Spread.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II of Schedule 1 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one two hundred and fifty million Euro Dollars (EUR 150,000,000$250,000,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Variable Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty (30) days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02(d) of the General Conditions. The Payment Dates are April March 15 and October September 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of amortization schedule set forth in Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c4.05(c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II IV of Schedule 1 2 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one hundred fifty thirty two million Euro Euros (EUR 150,000,00032,000,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“Project”).
2.02. The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty (30) days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02 (d) of the General Conditions. The Payment Dates are April May 15 and October November 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of amortization schedule set forth in Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II IV of Schedule 1 2 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one five hundred fifty and sixty million Euro United States Dollars (EUR 150,000,000$560,000,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 of this Agreement (“Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined . The Commitment Charge payable by the Bank from time Borrower shall be equal to timeone quarter of one percent (0.25%) per annum on the Unwithdrawn Loan Balance.
2.05. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR the Reference Rate for the Loan Currency plus the Fixed Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to timeVariable Spread ; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02 (e) of the General Conditions.
2.06. The Payment Dates are April February 15 and October August 15 in each year.
2.07. The principal amount of the Loan shall be repaid in accordance with the provisions of amortization schedule set forth in Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to to: (A) all or any portion of the principal amount of the Loan withdrawn and outstanding from a Variable Rate to a Fixed Rate, or vice versa; or (B) all or any portion of the principal amount of the Loan withdrawn and outstanding from a Variable Rate based on a Reference Rate and the Variable Spread to a Variable Rate based on a Fixed Reference Rate and the Variable Spread, or vice versa; or (C) all of the principal amount of the Loan withdrawn and outstanding from a Variable Rate based on a Variable Spread to a Variable Rate based on a Fixed Spread; and (iiiii) the setting of limits on the Variable Rate or the Reference Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate or the Reference Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 4.05 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II IV of Schedule 1 2 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one seventy eight million nine hundred fifty million Euro thousand Euros (EUR 150,000,00078,900,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 of this Agreement (“Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five onethree-hundredths fourths of one per cent percent (0.753/4 of 1%) per annum from on the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General ConditionsUnwithdrawn Loan Balance, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one percent (1.0%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. The Payment Dates are April March 15 and October September 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of amortization schedule set forth in Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II of Schedule 1 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one billion one hundred fifty and ninety five million Euro Dollars (EUR 150,000,000$1,195,000,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Variable Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty (30) days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02(d) of the General Conditions. The Payment Dates are April 15 and October 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of amortization schedule set forth in Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following following, namely Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which Collar, the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to shall pay any premium payable in accordance with Section 4.04 (c4.05(c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II of Schedule 1 to this AgreementConditions.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one hundred fifty million Euro Dollars (EUR 150,000,000$100,000,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 of this Agreement (“Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five onethree-hundredths fourths of one per cent percent (0.753/4 of 1%) per annum from on the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General ConditionsUnwithdrawn Loan Balance, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one percent (1.0%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. In the event that the Borrower selects not to capitalize the Front-end Fee, the Borrower shall pay the Front-end Fee not later than 60 days after the Effective Date. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. The Payment Dates are April March 15 and October September 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of amortization schedule set forth in Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II IV of Schedule 1 2 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one two hundred fifty seventy five million Euro two hundred thousand Euros (EUR 150,000,000275,200,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Variable Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02 (d) of the General Conditions. The Payment Dates are April 15 and October 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of amortization schedule set forth in Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 4.05 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II IV of Schedule 1 2 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one thirty million and five hundred fifty million Euro thousand Dollars (EUR 150,000,000$30,500,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02 (d) of the General Conditions. The Payment Dates are April May 15 and October November 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 4.05 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II IV of Schedule 1 2 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one fifteen million three hundred fifty million Euro thousand Dollars (EUR 150,000,000$15,300,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by . The Borrower shall pay the Bank from time to timeFront-end Fee not later than 60 days after the Effective Date. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02 (d) of the General Conditions. The Payment Dates are April June 15 and October December 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of amortization schedule set forth in Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) . Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II of Schedule 1 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one hundred fifty million Euro and five million, two hundred and thirty thousand Dollars (EUR 150,000,000$105,230,000) (“Loan”), as such amount may be converted from time to time through a Currency Conversion assist in accordance with financing the provisions of Section 2.08 of project described in Schedule 1 to this Agreement (“LoanProject”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Variable Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty (30) days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02(d) of the General Conditions. The Payment Dates are April July 15 and October January 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of amortization schedule set forth in Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c4.05(c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II IV of Schedule 1 2 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of five hundred thirty one million one hundred fifty million Euro ninety thousand United States Dollars (EUR 150,000,000US$531,190,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by . The Borrower shall pay the Bank from time to timeFront-end Fee not later than sixty (60) days after the Effective Date. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR the Reference Rate for the Loan Currency plus the Fixed Variable Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02(e) of the General Conditions. The Payment Dates are April January 15 and October July 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding from a Variable Rate to a Fixed Rate, or vice versa, or from a Variable Rate based on a Variable Spread to a Variable Rate based on a Fixed Spread; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II of Schedule 1 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one four hundred fifty million Euro six hundred thousand Dollars (EUR 150,000,000$450,600,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Variable Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty (30) days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02(d) of the General Conditions. The Payment Dates are April May 15 and October November 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II of Schedule 1 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one hundred fifty ten million Euro United States Dollars (EUR 150,000,000$110,000,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02 (d) of the General Conditions. The Payment Dates are April 15 1 and October 15 1 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of amortization schedule set forth in Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 4.05 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II IV of Schedule 1 2 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one hundred fifty million Euro Dollars (EUR 150,000,000US$100,000,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR the Reference Rate for the Loan Currency plus the Fixed Variable Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty (30) days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02(e) of the General Conditions. The Payment Dates are April 15 and October 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of amortization schedule set forth in Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding from a Variable Rate to a Fixed Rate, or vice versa, or from a Variable Rate based on a Variable Spread to a Variable Rate based on a Fixed Spread; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c4.05(c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II IV of Schedule 1 2 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one twenty seven million five hundred fifty million Euro thousand Dollars (EUR 150,000,000$27,500,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02(d) of the General Conditions. The Payment Dates are April May 15 and October November 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 4.05 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II IV of Schedule 1 2 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one sixteen million eight hundred fifty million Euro thousand Euros (EUR 150,000,00016,800,000) (“Loan”), as such amount may be converted from time to time through a Currency Conversion assist in accordance with financing the provisions of Section 2.08 of project described in Schedule 1 to this Agreement (“LoanProject”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five onethree-hundredths fourths of one per cent percent (0.753/4 of 1%) per annum from on the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General ConditionsUnwithdrawn Loan Balance, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one percent (1.0%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. The Payment Dates are April February 15 and October August 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of amortization schedule set forth in Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II of Schedule 1 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one forty two million, five hundred fifty million Euro and six thousand dollars (EUR 150,000,000), $42,506,000) as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.0%0.25% percent) of the Loan amount. On or promptly after the Effective Date, subject to any waiver of a portion of such fee as may be determined by the Bank shall, on behalf of the Borrower, withdraw from time to timethe Loan Account and pay itself the amount of the Front-end Fee. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Variable Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02 (d) of the General Conditions. The Payment Dates are April 15 and October 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of amortization schedule set forth in Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II of Schedule 1 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one hundred fifty thirty nine million Euro Dollars (EUR 150,000,000$39,000,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR the Reference Rate for the Loan Currency plus the Fixed Variable Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02 (e) of the General Conditions. The Payment Dates are April May 15 and October November 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of amortization schedule set forth in Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; and (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding from a Variable Rate to a Fixed Rate, or vice versa; and (ii) the setting of limits on the , or from a Variable Rate applicable based on a Variable Spread to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest a Variable Rate Cap or Interest Rate Collar based on the Variable Ratea Fixed Spread.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II of Schedule 1 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one three hundred fifty sixty-seven million and three hundred thousand Euro (EUR 150,000,000€367,300,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.09 of this Agreement (“Loan”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II of the Schedule 1 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five onethree-hundredths fourths of one per cent percent (0.753/4 of 1%) per annum from on the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General ConditionsUnwithdrawn Loan Balance, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one percent (1.0%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, provided that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. The Payment Dates are April March 15 and October September 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of Schedule 2 to this Agreementfull on September 15, 2017.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c) of the General Conditions up Conditions.
2.09. Without limitation upon the provisions of paragraph (a) of Section 2.08 of this Agreement and unless otherwise notified by the Borrower to the Bank in accordance with the provisions of the Conversion Guidelines, the interest rate basis applicable to the aggregate principal amount allocated of the Loan withdrawn during each Interest Period shall be changed from time the initial Variable Rate to time a Fixed Rate for the purpose full maturity of such amount in accordance with the table in Section II provisions of Schedule 1 to this AgreementArticle IV of the General Conditions and of the Conversion Guidelines.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one $300,000,000 (three hundred fifty million Euro (EUR 150,000,000), Dollars) as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 of this Agreement (“Loan”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II of Schedule 1 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five onethree-hundredths fourths of one per cent percent (0.753/4 of 1%) per annum from on the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General ConditionsUnwithdrawn Loan Balance, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one percent (1.0%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. In the event that the Borrower selects not to capitalize the Font-end Fee, the Borrower shall pay the Front-end Fee not later than 60 days after the Effective Date. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. The Payment Dates are April February 15 and October August 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of Schedule 2 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II of Schedule 1 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of four hundred and sixty one hundred fifty million Euro Dollars (EUR 150,000,000$461,000,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR the Reference Rate for the Loan Currency plus the Fixed Variable Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02 (e) of the General Conditions. The Payment Dates are April March 15 and October September 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of amortization schedule set forth in Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding from a Variable Rate to a Fixed Rate, or vice versa, or from a Variable Rate based on a Variable Spread to a Variable Rate based on a Fixed Spread; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 4.05 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II IV of Schedule 1 2 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one two hundred fifty million Euro United States Dollars (EUR 150,000,000US$200,000,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR the Reference Rate for the Loan Currency plus the Fixed Variable Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty (30) days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02 (e) of the General Conditions. The Payment Dates are April 15 and October 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding from a Variable Rate to a Fixed Rate, or vice versa, or from a Variable Rate based on a Variable Spread to a Variable Rate based on a Fixed Spread; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II of Schedule 1 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one sixty-two million three hundred fifty million Euro thousand Dollars (EUR 150,000,000$62,300,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (the “Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02 (d) of the General Conditions. The Payment Dates are April March 15 and October September 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of amortization schedule set forth in Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II IV of Schedule 1 2 to this Agreement.
2.08. Without limitation upon the provisions of paragraph (a) of Section 2.07 of this Agreement and unless otherwise notified by the Borrower to the Bank in accordance with the provisions of the Conversion Guidelines, the interest rate basis applicable to consecutive withdrawals from the Loan Account which in the aggregate equal sixty-two million three hundred thousand Dollars ($62,300,000) shall be converted from the initial Variable Rate to a Fixed Rate for the full maturity of such amount in accordance with the provisions of the General Conditions and of the Conversion Guidelines.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one three hundred fifty million Euro United States Dollars (EUR 150,000,000US$300,000,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by . The Borrower shall pay the Bank from time to timeFront-end Fee not later than sixty (60) days after the Effective Date. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the IBRD General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty (30) days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02(d) of the IBRD General Conditions. The Payment Dates are April 15 and October 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the IBRD General Conditions, and shall be effected in accordance with the provisions of Article IV of the IBRD General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II of Schedule 1 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one hundred fifty forty nine million Euro nine hundred eighty thousand United States Dollars (EUR 150,000,000US$149,980,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by . The Borrower shall pay the Bank from time to timeFront-end Fee not later than sixty (60) days after the Effective Date. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Variable Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty (30) days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02(d) of the General Conditions. The Payment Dates are April 15 1 and October 15 1 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II of Schedule 1 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one six hundred fifty million Euro United States Dollars (EUR 150,000,000US$600,000,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty (30) days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02(d) of the General Conditions. The Payment Dates are April March 15 and October September 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c4.05(c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II IV of Schedule 1 2 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one fifty three million nine hundred fifty million Euro thousand Euros (EUR 150,000,00053,900,000) (“Loan”), as such amount may be converted from time to time through a Currency Conversion assist in accordance with financing the provisions of Section 2.08 of project described in Schedule 1 to this Agreement (“LoanProject”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- to: (i) eighty five one-hundredths of one per cent (0.750.85%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, Conditions to but not including the fourth anniversary of such date; and (ii) seventy five one-hundredths of one per cent (0.75%) per annum thereafter; subject in either case to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one percent (1.0%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. The Payment Dates are April March 15 and October September 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of amortization schedule set forth in Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II IV of Schedule 1 2 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the an amount of one hundred fifty equal to ninety six million Euro Dollars (EUR 150,000,000$96,000,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Variable Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty (30) days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02(d) of the General Conditions. The Payment Dates are April March 15 and October September 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of amortization schedule set forth in Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c4.05(c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II IV of Schedule 1 2 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one hundred fifty seventy three million Euro six hundred thousand United States dollars (EUR 150,000,000USD173,600,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty (30) days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02(d) of the General Conditions. The Payment Dates are April March 15 and October September 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of amortization schedule set forth in Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c4.05(c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II IV of Schedule 1 2 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one two hundred fifty fourteen million Euro two hundred thousand Egyptian pounds (EUR 150,000,000EGP214,200,000) (“Loan”), as such amount may be converted from time to time through a Currency Conversion assist in accordance with financing the provisions of Section 2.08 of project described in Schedule 1 to this Agreement (“LoanProject”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five onethree-hundredths fourths of one per cent percent (0.753/4 of 1%) per annum from on the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General ConditionsUnwithdrawn Loan Balance, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one percent (1.0%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. On or promptly after the Effective Date, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay itself the amount of such fee. The interest payable by the Borrower on the principal amount of the Loan withdrawn and outstanding from time to time for each any Interest Period shall be at a rate equal to LIBOR for the Loan Currency Swap Rate plus the Fixed Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, provided that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. The Payment Dates are April March 15 and October September 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of amortization schedule set forth in Schedule 2 3 to this Agreement.
(a) The In order to facilitate prudent debt management, the Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan from a Variable Rate to a Fixed Rate, or vice versa; and (ii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
. Without limitation upon the provisions of paragraph (ca) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which of Section 2.08 of this Agreement and unless otherwise notified by the Borrower has requested that the premium be paid out of the proceeds of the Loan, to the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c) the provisions of the Conversion Guidelines, the interest rate basis applicable to the aggregate principal amount of the Loan withdrawn during each Interest Period shall be changed from the initial Variable Rate to a Fixed Rate for the full maturity of such amount in accordance with the provisions of Article IV of the General Conditions up and of the Conversion Guidelines, as such General Conditions may be modified to the amount allocated from time to time for the purpose in the table in Section II of Schedule 1 to accommodate this AgreementLoan.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, Borrower the amount of one five hundred fifty million Euro Dollars (EUR 150,000,000USD 500,000,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 of this Agreement (“Loan”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II of Schedule 1 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time.
2.02. The Front-end Fee payable by the Borrower shall be equal to is one half of one percent (1.00.50%) of the Loan amount.
2.03. If the Closing Date is extended pursuant to Section 2.07 below, subject to any waiver of a portion of such the fee as may be determined by the Bank from time to time. The interest payable by the Borrower for each Interest Period extension of the Closing Date shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Spread, subject to any waiver one quarter of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. The Payment Dates are April 15 and October 15 in each year. The principal amount one percent (0.25%) of the Loan shall be repaid in accordance with the provisions of Schedule 2 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan from a Variable Rate to a Fixed Rate, or vice versa; and (ii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date available for an Interest Rate Cap or Interest Rate Collar for which withdrawal upon such extension. If the Borrower has requested that elects to capitalize the premium be paid out of the proceeds of the Loanfee, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the such amounts required to pay any premium payable in accordance with such fee. If the Borrower elects to pay the fee from its own resources, the Borrower shall pay such fee not later than sixty (60) days after the date of the notice given by the Bank to the Borrower confirming the extension of the Closing Date.
2.04. The interest rate is the Reference Rate plus the Variable Spread or such rate as may apply following a Conversion; subject to Section 4.04 (c3.02(e) of the General Conditions up to Conditions.
2.05. The Payment Dates are April 15 and October 15 in each year.
(a) Except as otherwise provided in paragraph (b) of this Section, the principal amount allocated from time to time for of the purpose Loan shall be repaid in the table in Section II of accordance with Schedule 1 2 to this Agreement.
(b) The Borrower may at the time of requesting a Withdrawal also request repayment provisions different from those set out in Schedule 2 to this Agreement for such Withdrawal, provided that: (i) the average maturity of such Withdrawal does not exceed twenty (20) years from the Withdrawal Date and the final maturity of such Withdrawal does not exceed thirty-five (35) years from the Withdrawal Date (or such other average maturity and/or final maturity as may be generally applicable to loans made by the Bank to the Borrower at the time of such agreement); and (ii) such repayment provisions have been agreed between the Borrower and the Bank prior to the Withdrawal Date of such Withdrawal.
2.07. At any time prior to the Closing Date, the Borrower may, by notice to the Bank, refund any amount of the Withdrawn Loan Balance for the purpose of re-crediting such amount to the Loan Account for further withdrawals. Upon such refund, the repayment schedule shall be adjusted on a pro rata basis, on terms and conditions acceptable to the Bank.
2.08. If, prior to the Closing Date, the Borrower requests an extension of the Closing Date, the Bank may provide such extension on such terms and conditions as agreed by the Bank.
2.09. Without limitation upon the provisions of Section 5.05 of the General Conditions, the Borrower shall promptly furnish to the Bank such information relating to the provisions of this Article II as the Bank may, from time to time, reasonably request.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one hundred fifty thirty million Euro Dollars (EUR 150,000,000$30,000,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02 (d) of the General Conditions. The Payment Dates are April May 15 and October November 15 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of amortization schedule set forth in Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan from a Variable Rate to a Fixed Rate, or vice versa; and (iiiii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
2.08. Without limitation upon the provisions of paragraph (ca) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which of Section 2.08 of this Agreement and unless otherwise notified by the Borrower has requested that to the premium be paid out Bank in accordance with the provisions of the proceeds of the LoanConversion Guidelines, the Bank shall, on behalf of the Borrower, withdraw interest rate basis applicable to consecutive withdrawals from the Loan Account and pay which in the aggregate equal to itself thirty million Dollars ($30,000,000) shall be converted from the amounts required initial Variable Rate to pay any premium payable a Fixed Rate for the full maturity of such amount in accordance with Section 4.04 (c) the provisions of the General Conditions up to and of the amount allocated from time to time for the purpose in the table in Section II of Schedule 1 to this AgreementConversion Guidelines.
Appears in 1 contract
Samples: Loan Agreement
Loan. 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of ninety two million one hundred fifty million thousand Euro (EUR 150,000,000€92,100,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.08 2.07 of this Agreement (“Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“Project”). The Borrower may withdraw the proceeds of the Loan in support of the Program in accordance with Section II IV of Schedule 1 2 to this Agreement. The Commitment Charge payable by the Borrower shall be equal to seventy- five one-hundredths of one per cent (0.75%) per annum from the date on which the Commitment Charge commences to accrue in accordance with the provisions of Section 3.01 of the General Conditions, subject to any waiver of a portion of such charge as may be determined by the Bank from time to time. The Front-end Fee payable by the Borrower shall be equal to one quarter of one percent (1.00.25%) of the Loan amount, subject to any waiver of a portion of such fee as may be determined by the Bank from time to time. The interest payable by the Borrower for each Interest Period shall be at a rate equal to LIBOR for the Loan Currency plus the Fixed Spread, subject to any waiver of a portion of such interest as may be determined by the Bank from time to time; provided, that upon a Conversion of all or any portion of the principal amount of the Loan, the interest payable by the Borrower during the Conversion Period on such amount shall be determined in accordance with the relevant provisions of Article IV of the General Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such non-payment continues for a period of thirty days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02 (d) of the General Conditions. The Payment Dates are April 15 June 1 and October 15 December 1 in each year. The principal amount of the Loan shall be repaid in accordance with the provisions of amortization schedule set forth in Schedule 2 3 to this Agreement.
(a) The Borrower may at any time request any of the following Conversions of the terms of the Loan in order to facilitate prudent debt management: (i) a change of the Loan Currency of all or any portion of the principal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; and (ii) a change of the interest rate basis applicable to all or any portion of the principal amount of the Loan from a Variable Rate to a Fixed Rate, or vice versa; and (ii) the setting of limits on the Variable Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishment of an Interest Rate Cap or Interest Rate Collar on the Variable Rate.
(b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a “Conversion”, as defined in the General Conditions, and shall be effected in accordance with the provisions of Article IV of the General Conditions and of the Conversion Guidelines.
(c) Promptly following the Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premium payable in accordance with Section 4.04 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section II of Schedule 1 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement