Optional Refinancing Sample Clauses

The Optional Refinancing clause allows one party, typically the borrower, to refinance an existing loan or debt under specified conditions before its maturity. This clause outlines the process by which refinancing can occur, such as providing notice to the lender and meeting certain financial criteria or approvals. Its core practical function is to give flexibility to the borrower to take advantage of better interest rates or improved loan terms, thereby potentially reducing costs or improving cash flow, while also ensuring the lender is informed and protected during the refinancing process.
Optional Refinancing. (a) On any Payment Date following the end of the Replenishment Period, the Holder of the Class E Note may direct the Issuer to effect a refinancing and prepayment of the Offered Notes in whole, but not in part (the “Refinancing”) by directing the Issuer (with a copy of such direction to the Indenture Trustee and the Servicer) to issue additional notes (the “Replacement Notes”), the proceeds of which will be used to fully prepay all classes of Offered Notes. A Refinancing will be required to result in prepayment of all of the Offered Notes. On the Refinancing Date, the Issuer shall pay the Refinancing Price to the Holders of the Offered Notes as well as anyone else entitled thereto. The Replacement Notes issued pursuant to a Refinancing would have such terms and priorities as are negotiated at the time and that are set forth in a supplemental indenture approved by both the Holder of the Class E Note and the Servicer. (b) Notice of a Refinancing will be given by the Trustee as set forth in Section 10.04(b). Failure to give notice of a Refinancing to any Holder of any Note selected for Refinancing or any defect therein will not impair or affect the validity of the Refinancing of any other Notes. The issue of the Replacement Notes, and the repurchase of the Offered Notes, will be contingent on receipt by the Issuer of sufficient funds from the issuance of the Replacement Notes to fully redeem the Offered Notes and pay certain other amounts by payment in full of the Refinancing Price. If this condition is not met, the Replacement Notes will not be issued and the Offered Notes will not be refinanced. Offered Notes in certificated form called for prepayment must be surrendered at the place specified in the notice of Refinancing in order for the Holder to receive its ratable portion of the Refinancing Price.
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Optional Refinancing. (i) The Issuer may, at the direction of the Holders of at least 66-2/3% of the Outstanding Principal Balance of the Class F Notes, effect a Refinancing of the Offered Notes in whole, but not in part, on any Refinancing Date by payment to the Holders of the Offered Notes and other Persons entitled thereto the Refinancing Price pursuant to the Indenture and the other Transaction Documents. To effect a Refinancing, the Servicer on behalf of the Issuer shall deposit in the Note Distribution Account an amount equal to the Refinancing Price and shall comply with the provisions of Section 10.04 of the Indenture. (ii) Notice of a Refinancing shall be given by the Issuer to the Servicer, the Indenture Trustee, the Owner Trustee, the Class A-2 Agent and the Rating Agencies and by the Indenture Trustee to each Holder of Notes.
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Optional Refinancing. (i) The Issuer, at the direction of the Holders representing at least 66-2/3% of the Outstanding Principal Balance of the Class E Notes, may effect a Refinancing of the Offered Notes and the Class D Notes on any Refinancing Date by payment to the Holders of the Offered Notes and the Class D Notes and other Persons entitled thereto the Refinancing Price pursuant to the Indenture and the other Transaction Documents. To effect a Refinancing, the Servicer on behalf of the Issuer shall deposit in the Note Distribution Account an amount equal to the Refinancing Price and shall comply with the provisions of Section 10.04 of the Indenture. (ii) Notice of any Refinancing pursuant to Section 10.01(b)(i) shall be given, at least ten Business Days prior to the proposed Refinancing Date, by the Issuer to the Servicer, the Trustee, the Class A-1A VFN Agent, the Owner Trustee and the Rating Agencies and by the Trustee to each Holder of Notes.
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Optional Refinancing. (i) The Issuer may, at the direction of the Holder of at least 66-2/3% of the Outstanding Principal Balance of the Class F Note, effect a Refinancing of the Offered Notes and the Class E Notes in whole, but not in part, on any Refinancing Date by payment to the Holders of the Offered Notes and the Class E Notes and other Persons entitled thereto the Refinancing Price pursuant to the Indenture and the other Transaction Documents. To effect a Refinancing, the Servicer on behalf of the Issuer shall deposit in the Note Distribution Account an amount equal to the Refinancing Price and shall comply with the provisions of Section 10.04 of the Indenture. (ii) Notice of a Refinancing shall be given by the Servicer or the Issuer to the Trustee, the Owner Trustee, the Class A-2 Agent and the Rating Agencies not less than ten Business Days prior to the proposed Refinancing Date.
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Optional Refinancing. (i) On any Payment Date following the end of the Replenishment Period, the Holder of the Class E Note may cause the Issuer to effect a Refinancing of the Offered Notes and the Class D Notes. The Holder of the Class E Note may cause a refinancing and prepayment of the Offered Notes and the Class D Notes in whole but not in part by directing the Issuer (with a copy of such direction to the Indenture Trustee and the Servicer) to issue additional notes (the “Replacement Notes”), the proceeds of which will be used to fully prepay all classes of Offered Notes and the Class D Notes in accordance with the terms of the Indenture. A Refinancing will be required to result in prepayment of all of the Offered Notes and the Class D Notes. (ii) Notice of a Refinancing will be given by the Servicer or the Issuer to the Indenture Trustee, the Owner Trustee and the Rating Agencies not less than ten Business Days prior to the proposed Refinancing Date.
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Optional Refinancing. On any Payment Date following the end of the Replenishment Period, the Holder of the Class E Note may cause the Issuer to effect a Refinancing of the Offered Notes. The Holder of the Class E Note may cause a refinancing and prepayment of the Offered Notes in whole but not in part by directing the Issuer (with a copy of such direction to the Indenture Trustee and the Servicer) to issue additional notes (the “Replacement Notes”), the proceeds of which will be used to fully prepay all Classes of Offered Notes in accordance with the terms of the Indenture. A Refinancing will be required to result in prepayment of all of the Offered Notes.
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Optional Refinancing. (a) Unless a Payment Default, Credit Default or an Event of Default shall have occurred and be continuing, at the request of Old Dominion, the Owner Participant, the Owner Trustee and the Agent agree to cooperate with Old Dominion to refinance the Loan Certificates in whole but not in part, through the issuance of Additional Loan Certificates. The obligation of the Owner Participant and the Owner Trustee to effect such a refinancing shall be subject to the satisfaction of all conditions to the issuance of Additional Loan Certificates under Section 10.2 (other than paragraph (viii)) and Section 2.11 of the Loan Agreement and, in addition, to the satisfaction of the following conditions: (i) all documentation in connection with such refinancing shall be satisfactory to the Owner Trustee and the Owner Participant; (ii) the Owner Participant shall at the expense of Old Dominion have obtained a favorable tax opinion from the Owner Participant's Tax Counsel to the effect that the exercise of such refinancing right (as opposed to the existence of such right) will not result in a material incremental risk of any unindemnified adverse tax consequence to Owner Participant or the Owner Trustee, or, if such opinion cannot be obtained from such counsel, the Owner Participant shall be indemnified by Old Dominion to the reasonable satisfaction of Owner Participant; (iii) the Owner Participant shall not suffer any adverse accounting effects as a result of such refinancing, including but not limited to, the loss of leveraged lease accounting; and (iv) such additional representations, warranties, indemnities and opinions of counsel as the Owner Participant or the Owner Trustee shall reasonably request.
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Optional Refinancing 
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Related to Optional Refinancing

  • Refinancing Substantially concurrently with the Borrowing of 2015 Term Loans hereunder, the Refinancing shall be consummated in full to the satisfaction of the Lenders with all Liens in favor of the existing lenders being unconditionally released; the Administrative Agent shall have received a “pay-off” letter in form and substance reasonably satisfactory to the Administrative Agent with respect to all Indebtedness being refinanced in the Refinancing; and the Administrative Agent shall have received from any person holding any Lien securing any such Indebtedness, such UCC (or equivalent) termination statements, mortgage releases, releases of assignments of leases and rents, releases of security interests in Intellectual Property and other instruments, in each case in proper form for recording or filing, as the Administrative Agent shall have reasonably requested to release and terminate of record the Liens securing such Indebtedness. After giving effect to the Transactions, Irish Holdco and its Subsidiaries (including, without limitation, the Target and its Subsidiaries) shall have no outstanding preferred equity (unless owned by a direct parent thereof which is a Loan Party) or Indebtedness for borrowed money, except for Indebtedness incurred pursuant to (i) the Loan Documents, (ii) indebtedness expressly permitted to remain outstanding after the Closing Date pursuant to the Acquisition Agreement (as in effect on the date thereof), (iii) the Existing Notes, (iv) the Horizon Convertible Notes, (iv) working capital leases, capital leases and Indebtedness incurred in the ordinary course, (v) intercompany debt among Irish Holdco and its Subsidiaries, (vi) the New Horizon Unsecured Notes and (vii) such other existing indebtedness identified to, and expressly permitted to remain outstanding after the Closing Date by, the Lead Arrangers as “surviving debt” prior to the date hereof.

  • Refinancing Debt Borrowed Money that is the result of an extension, renewal or refinancing of Debt permitted under Section 10.2.1(b), (d) or (f).

  • Refinancing Facilities (a) At any time after the Closing Date, the Borrower may obtain, from any Lender or any Additional Lender (to the extent agreed to by such Lender or Additional Lender in its sole discretion), Credit Agreement Refinancing Indebtedness in respect of all or any portion of the Term Loans, Prepetition Subsidiary Debt, Revolving Credit Loans and/or Revolving Credit Commitments then outstanding under this Agreement (which will be deemed to include any then outstanding Incremental Term Loans under any Incremental Facilities or any Incremental Revolving Credit Commitments then outstanding under this Agreement (or any Revolving Credit Loans outstanding pursuant thereto)) or any then outstanding Refinancing Term Loans or any then outstanding Refinancing Revolving Credit Loans or Refinancing Revolving Credit Commitments in the form of Refinancing Revolving Credit Loans or Refinancing Revolving Credit Commitments, respectively, in each case, pursuant to a Refinancing Amendment, together with any applicable Customary Intercreditor Agreement or other customary subordination agreement; provided, that such Credit Agreement Refinancing Indebtedness (i) will, to the extent secured, rank pari passu or junior in right of payment and of security with the other Loans and Commitments hereunder (but for the avoidance of doubt, such Credit Agreement Refinancing Indebtedness may be unsecured), (ii) will, to the extent permitted by the definition of “Credit Agreement Refinancing Indebtedness,” have such pricing, interest rate margins (including “MFN” provisions), rate floors, discounts, fees, premiums and prepayment or redemption provisions and terms as may be agreed by the Borrower and the Lenders or Additional Lenders with respect thereto, (iii) will, to the extent in the form of Refinancing Revolving Credit Loans or Refinancing Revolving Credit Commitments, participate in the payment, borrowing, participation and commitment reduction provisions herein on a pro rata basis with any then outstanding Revolving Credit Loans and Revolving Credit Commitments, except that the Borrower shall be permitted to permanently repay and terminate commitments of any such Class on a better than a pro rata basis as compared to any other Class with a later maturity date than such Class and (iv) will, to the extent in the form of Refinancing Revolving Credit Loans or Refinancing Revolving Credit Commitments and unless the Required Revolving Credit Lenders shall have consented thereto, have terms and conditions (other than interest rate margins and commitment fees) identical to those applicable to the Revolving Credit Commitments and Revolving Credit Loans being refinanced. The effectiveness of any Refinancing Amendment shall be subject to, to the extent reasonably requested by the Administrative Agent (or in the case of Revolving Credit Commitments and Revolving Credit Loans, the Revolver Agent), receipt by the Administrative Agent or Revolver Agent, as applicable, of reaffirmation agreements and board resolutions, officers’ certificates and legal opinions consistent with those delivered on the Closing Date. The Administrative Agent or Revolver Agent, as applicable, shall promptly notify each Lender as to the effectiveness of each Refinancing Amendment. Each of the parties hereto hereby agrees that, upon the effectiveness of any Refinancing Amendment, this Agreement shall be deemed amended to the extent (but only to the extent) necessary to reflect the existence and terms of the Credit Agreement Refinancing Indebtedness incurred pursuant thereto (including any amendments necessary to treat the Loans and Commitments subject thereto as Refinancing Term Loans, Refinancing Revolving Credit Loans or Refinancing Revolving Credit Loan Commitments, as applicable) and any Indebtedness being replaced or refinanced with such Credit Agreement Refinancing Indebtedness shall be deemed permanently reduced and satisfied in all respects. Any Refinancing Amendment may, without the consent of any other Lenders, effect such amendments to this Agreement and the other Loan Documents as may be necessary or appropriate, to effect the provisions of this Section. (b) This Section 2.18 shall supersede any provisions of Section 10.01 to the contrary.

  • Other Financing Notwithstanding anything in this Agreement to the contrary, the Issuer and the Company may hereafter enter into agreements to provide for the financing or refinancing of costs of the Project or any portion thereof.

  • Prepayment of Debt Make any prepayment (whether optional or mandatory), repurchase, redemption, defeasance or any other payment in respect of any Subordinated Debt.