New Money. The Subordinated Party agrees and acknowledges that the Secured Parties may, at their discretion, increase any amounts payable or make further advances under the Finance Documents and/or make further facilities available to a Borrower. Any such increased payments, further advances and/or additional facilities will be deemed to be made under the terms of the Finance Documents.
New Money. Should the Lender agree, in connection with a debt restructuring or in order to avoid such restructuring, to extend new credits (“New Money”) to the Borrower or other entities of the public or private sector in the country of the Borrower and should the Lender’s participation in such New Money be calculated on the basis of credits extended by the Lender and/or other companies of the Deutsche Bank group to the Borrower or such other entities, the Guarantor hereby irrevocably and unconditionally guarantees, in accordance with the terms hereof, that portion of the claims for principal, interest, cost, expenses, fees and other amounts payable in respect of the New Money by which the Lender’s participation in the New Money is increased by virtue of the Indebtedness, regardless of whether the Lender is legally obliged to take part in the restructuring of the New Money. The Guarantor’s consent to the terms and documentation of the New Money shall not be required.
New Money. The Subordinated Creditor hereby agrees that the Facility Agent (acting on behalf of the Lenders) may, at its discretion, increase the facility made available to the Company and make further advances to the Company, and each such advance will be deemed to be made under the terms of the Agreement.
New Money. If the Company shall either receive an investment by a third party investor or borrow money from a bank or other third party lender, 50% of such investment or loan must be paid by the Company to the Holder to reduce the outstanding principal and interest hereunder.
New Money. If, in connection with any General Debt Restructuring, the Grantor agrees to increase its exposure (whether by way of additional advances or otherwise), the Grantor shall not be obliged to account to the Participant under the Funded Participation until that increased exposure has been paid and satisfied unless the Participant participates in the increased exposure on the terms of the Funded Participation (mutatis mutandis) Provided that, notwithstanding any other provision of these Terms and Conditions the Participant shall have no obligation to participate in any such increased exposure whether in connection with any General Debt Restructuring or otherwise.
New Money. 7.1 VTTI hereby agrees that the Agent (acting on behalf of the Finance Parties) may, at its discretion, make further advances under any agreement relating to the Senior Liabilities and each such advance shall be deemed to be made under the relevant agreement.
7.2 The Senior Liabilities may be refinanced and any obligations incurred by ATT, as the case may be, in refinancing such Senior Liabilities will be deemed to be Senior Liabilities within the meaning of this Agreement and will rank ahead of the Subordinated Liabilities on, mutatis mutandis, the terms set out in this Agreement.
7.3 In the event that any of the Senior Liabilities are refinanced, the Parties will enter into such documentation (on terms satisfactory to the Agent (acting reasonably)) as may be reasonably necessary to ensure that any obligation and liabilities incurred by ATT, as the case may be, in respect of such refinancing will rank ahead of the Subordinated Liabilities mutatis mutandis on the terms set out herein
New Money. The Hedging Bank, Overdraft Bank and Mezzanine Lenders hereby agree that the Senior Banks may, at their absolute discretion, make further advances to any of the members of the Group of up to £25,000,000 in aggregate in addition to the facilities provided under the Facility Agreement as at the date of this Agreement and each such advance will be deemed to be made under the terms of the Facility Agreement. However, if at any time after the Senior Financing Documents are first enforced, the principal amount of the Senior Liabilities shall have been increased to a greater extent than £25,000,000 by any such further advances, the subordination of the Mezzanine Liabilities effected by virtue of this Agreement shall, to that greater extent, be of no effect and the Senior Liabilities shall be postponed to and rank after the Hedging Liabilities, the Overdraft Liabilities and the Mezzanine Liabilities to that greater extent.
New Money. Should you agree, in connection with a debt restructuring or in order to avoid such restructuring, to extend new credits (“New Money”) to the Borrower or other entities in the country of the Borrower and should your participation in such New Money be calculated on the basis of credits extended by you and/or other companies of the Deutsche Bank group and/or the ..............
New Money. Should you agree, in connection with a debt restructuring or in order to avoid such restructuring, to extend new credits ("New Money") to the Borrower or other entities of the public or private sector in the country of the Borrower and should your participation in such New Money be calculated on the basis of credits extended by you and/or other companies of the Deutsche Bank group to the Borrower or such other entities, we hereby irrevocably and unconditionally guarantee, in accordance with the terms hereof, that portion of the claims for principal, interest, cost, expenses, fees and other amounts payable in respect of the New Money by which your participation in the New Money is increased by virtue of the Indebtedness, regardless of whether you are legally obliged to take part in the restructuring or the New Money. Our consent to the terms and documentation of the New Money shall not be required.
New Money. (a) The Obligors shall not (and the Company shall procure that no other member of the Group shall) incur any third party financing (other than working capital financing that is permitted pursuant to the provisions of Schedule 13 (Undertakings)) prior to the End Date (any such third party financing being a “Relevant Financing”) unless:
(i) if the Relevant Financing is of members of the SEAG Group or the US Sub- Group (each as defined in Schedule 13 (Undertakings)) and is not supported by credit support extended by any Group member outside the SEAG Group or the US Sub-Group, it is offered to each Relevant Participant in the proportion that (1) the aggregate amount of its holdings of Locked-Up SEAG Debt and Locked-Up Stripes Debt and its SFHG/SEAG Deemed Participations bears to (2) the aggregate amount of Locked-Up SEAG Debt, Locked-Up Stripes Debt and SFHG/SEAG Deemed Participations held by all Relevant Participants;
(ii) if the Relevant Financing is of SFHG only and is not supported by credit support extended by any other Group member, it is offered to each Relevant Participant in a proportion equal to its Relevant SFHG Debt Proportion; and
(iii) if the Relevant Financing does not satisfy the conditions in either Clause 8.6(a)(i) (New money) or Clause 8.6(a)(ii) (New money) above, it is offered to each Relevant Participant in the proportion that the aggregate amount of its holdings of Locked-Up SEAG Debt, Locked-Up Stripes Debt and Locked- Up SFHG Debt bears to the aggregate amount of Locked-Up SEAG Debt, Locked-Up Stripes Debt and Locked-Up SFHG Debt held by all Relevant Participants, provided that if as a result of any such offer, the total amount of the Relevant Financing would not be fully subscribed for, then this shortfall shall be offered (on an iterative basis) to Relevant Participants on an equivalent pro rata basis to that provided in (i) to (iii) above as applicable and excluding, for the purpose of determining the relevant proportions, the relevant Locked-Up Debt of any Non- Offeror.
(b) Subject to Clause 8.6(c) (New money), the relevant Group member may only seek financing from a person other than the Relevant Participants under Clause 8.6(a) (New money) (and the Company shall procure that any such Group member complies with this Clause 8.6(b) (New money) and if relevant Clause 8.6(c)) if:
(i) it is not able to raise the entire amount of the Relevant Financing from any Relevant Participant or Relevant Participants in accordance with Clause 8.6(...
