New Money Facility Clause Samples

New Money Facility. Participation Each Senior Creditor shall have the right to participate in the New Money Facility in an amount equal to its Participation Amount. Each Senior Creditor shall submit an irrevocable notice to the Information Agent indicating their decision to participate in the New Money Facility on the terms and by the deadline set out in the Approved Restructuring Documents. Each Participating Lender shall advance its Participation Amount to the Agent of the New Money Facility and complete all “know-your-customer” requirements of the Agent of the New Money Facility by the deadlines set out in the Explanatory Statement Principal Amount US$150 million Borrower NewCo or such other entity as determined to be tax-efficient, provided, that if NewCo is not the issuer of the New Notes, NewCo shall guarantee the New Money Facility. Guarantor(s) Subject to tax diligence and customary exclusions, each Peruvian OpCo shall irrevocably and unconditionally jointly and severally guarantee the obligations of NewCo under the New Money Facility as principal debtor. Each Peruvian OpCo shall duly execute and deliver a promissory note (▇▇▇▇▇▇ incomplete) in favour of the Agent of the New Money Facility to evidence its obligations to pay the amounts outstanding under the New Money Facility. The promissory notes shall be issued under Peruvian law and pursuant to article 10 of Law ▇▇. ▇▇▇▇▇ (▇▇▇ ▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇) ▇▇ ▇▇▇▇. Security Agent To be appointed by the Majority Backstop Parties. Maturity 10 years from the date of drawdown. Interest LIBOR plus 9% with a 1% LIBOR floor, subject to the establishment of a relevant LIBOR replacement benchmark rate Interest Payment Dates Semi-annually in arrears. Interest to be payable on a 360-day year with twelve 30-day months. Pre-Payment The New Money Facility will also have an appropriate yield protection in the form of a make whole provision which may be waived by lenders of not less than 75% of the aggregate amount of commitments under the New Money Facility. Mandatory Pre- Payment In the event that NewCo raises additional funds by way of an equity issuance (whether by way of rights issue, equity private placement, convertible notes, options, warrants), or any debt issuance, all proceeds (net of costs and expenses) shall be used solely for repayment of principal under the New Money Facility. Other customary mandatory pre-payment events including upon the occurrence of a change of control which results in the Club Lenders and the Noteholders...