Sustainability Provisions. (a) Following the date on which the Borrower provides a Pricing Certificate in respect of the most recently ended calendar year, (i) the Applicable Margin shall be increased or decreased (or neither increased nor decreased), as applicable, pursuant to the Sustainability Margin Adjustment as set forth in such Pricing Certificate, and (ii) the Commitment Fee Rate shall be increased or decreased (or neither increased nor decreased), as applicable, pursuant to the Sustainability Commitment Fee Adjustment as set forth in such Pricing Certificate. For purposes of the foregoing, (A) the Sustainability Margin Adjustment and the Sustainability Commitment Fee Adjustment shall be determined as of the fifth Business Day following receipt by the Administrative Agent of a Pricing Certificate delivered pursuant to Section 1.3(g) based upon the KPI Metric set forth in such Pricing Certificate and the calculations of the Sustainability Margin Adjustment and the Sustainability Commitment Fee Adjustment therein (such day, the “Sustainability Pricing Adjustment Date”) and (B) each change in the Applicable Margin and the Commitment Fee Rate resulting from a Pricing Certificate shall be effective during the period commencing on and including the applicable Sustainability Pricing Adjustment Date and ending on the date immediately preceding the next such Sustainability Pricing Adjustment Date (or, in the case of non-delivery of a Pricing Certificate, the last day such Pricing Certificate could have been delivered pursuant to the terms of Section 1.3(g)).
Sustainability Provisions. Each party hereto hereby agrees that neither the Sustainability Structuring Agent nor Global Administrative Agent shall have any responsibility for (or liability in respect of) reviewing, auditing or otherwise evaluating any calculation by Prologis of the Sustainability Metric or the Sustainability Metric Percentage (or any of the data or computations that are part of or related to any such calculation) set forth in any Sustainability Certificate or Assurance Report (and Global Administrative Agent and Sustainability Structuring Agent may rely conclusively on any such certificate, without further inquiry). Following a material acquisition or disposition by any Company, Prologis may request an adjustment to the Sustainability Metric Percentage. Any such adjustment will be subject to the consent of Sustainability Structuring Agent and will go into effect so long as Lenders constituting the Required Lenders have not objected to such adjustment within 10 Business Days after such adjustment has been posted for the Lenders. Upon request of Prologis, Global Administrative Agent, the Sustainability Structuring Agent, the Lenders and Prologis shall in good faith enter into discussions to agree to amendments (“ESG Amendments”) to the definitions of Sustainability Metric, the Sustainability Metric Percentage (and the target levels), and any proposed incentives and penalties for satisfying or not satisfying, respectively, the Sustainability Metric Percentage, including any adjustments (not to exceed plus or minus 5 basis points in the aggregate) to the Applicable Margin (such provisions, collectively, the “ESG Pricing Provisions”); provided that notwithstanding anything to the contrary herein, such ESG Amendments shall be effective upon consent of the Required Lenders.
Sustainability Provisions. 1. Landlord encourages tenants to look for environmentally preferable products for their purchasing and procurement practices. Tenants will install only high efficiency/low or no mercury lamps throughout their premises.
Sustainability Provisions. Effective as of the Second Amendment Effective Date, the Lease is amended as follows:
Sustainability Provisions. Each party hereto hereby agrees that neither the Sustainability Agent nor Administrative Agent shall have any responsibility for (or liability in respect of) reviewing, auditing or otherwise evaluating any calculation by Prologis of the Sustainability Metrics (or any of the data or computations that are part of or related to any such calculation) set forth in any Sustainability Certificate or Assurance Report (and Administrative Agent and Sustainability Agent may rely conclusively on any such certificate, without further inquiry). Following a material acquisition or disposition by any Company, Prologis may request an adjustment to the Sustainability Metrics. Any such adjustment will be effective upon consent of (i) Sustainability Agent and (ii) the Majority Lenders. Upon request of Prologis, Administrative Agent, Sustainability Agent, the Lenders and Prologis shall in good faith enter into discussions to agree to amendments (“ESG Amendments”) to the definition of Sustainability Metric (and the target levels), and any proposed incentives and penalties for satisfying or not satisfying, respectively, the Sustainability Metrics, including any adjustments (not to exceed plus or minus five (5) basis points in the aggregate) to the Applicable Margin; provided that notwithstanding anything to the contrary herein, such ESG Amendments shall be effective upon consent of (i) Sustainability Agent and (ii) the Majority Lenders.
Sustainability Provisions. (a) The Banks acknowledge that the Company may request to be included in this Agreement sustainability-linked loan provisions in accordance with the most updated version of the Sustainability Linked Loan Principles and the Draft Provisions for Sustainability-Linked Loans published by the Loan Market Association available at that time (the Sustainability Provisions).
Sustainability Provisions
