Permitted Refinancings Clause Samples
The Permitted Refinancings clause defines the conditions under which a borrower is allowed to refinance existing debt without breaching the terms of the agreement. Typically, this clause outlines specific criteria such as the type of debt that can be refinanced, limitations on the amount, maturity, and terms of the new debt, and requirements that the refinancing does not increase the lender's risk. For example, it may permit the borrower to replace a maturing loan with a new loan of similar or better terms, provided certain covenants are maintained. The core function of this clause is to provide flexibility for the borrower to manage and restructure debt while protecting the lender from unfavorable changes in credit risk or loan terms.
Permitted Refinancings. If the Borrower or any other Subsidiary realizes or receives any Net Cash Proceeds in connection with any Permitted Refinancing, the Borrower shall immediately cause to be paid to the Administrative Agent an amount equal to 100% of the Net Cash Proceeds received therefrom, to be immediately applied as set forth in Section 2.04(c).
Permitted Refinancings. If Senior Agent and/or Senior Lenders desire to undertake a Permitted Refinancing then for all purposes of this Agreement (a) the Senior Debt shall not be deemed to have been Finally Paid and (b) the agent under such new Senior Debt Documents shall be deemed to be Senior Agent for the purposes of this Agreement. Upon receipt of a notice of a Permitted Refinancing under the preceding sentence, Junior Creditors shall promptly enter into such documents and agreements (including amendments or supplements to this Agreement) as the new Senior Agent may reasonably request in order to confirm that the new Senior Agent has all rights and powers of Senior Agent set forth herein.
Permitted Refinancings. At the request of the Administrator, so long as PSA Migration Conditions are satisfied at such time, the Administrative Agent will permit the Permitted Refinancing of assets into a bilateral credit facility provided by the Administrative Agent. Such bilateral credit facility will be on the same terms to as the Series 2012-VF3 Notes (including, but not limited to, maintenance of an Applicable Rating), and any commitment under such bilateral credit facility will automatically result in a corresponding reduction in the Maximum VFN Principal Balance of the Series 2012-VF3 Notes.
Permitted Refinancings. Notwithstanding anything in this Lease to the contrary, the consent of Landlord shall not be required (but prior written notice to Landlord must be given) for a refinancing of a Permitted Leasehold Mortgage upon its stated maturity or otherwise, including any required replacement Permitted Leasehold Mortgage.