Examples of Bonding Facility in a sentence
The provisions of paragraph 18 (Governing Law and Jurisdiction) of the Bonding Facility Letter shall apply mutatis mutandis as if set out here in full.
Each Borrower for whose account a Letter of Credit or Lender Guarantee is issued shall pay to each Revolving Lender or Bonding Lender (as the case may be) a commission at a rate equal to the applicable Margin (as adjusted from time to time in accordance with Clause 6.5 (Margin Adjustment)) for the Revolving Facility or the Bonding Facility (as the case may be) on that Lender’s Contingent Liability from day to day in relation to that Letter of Credit or Lender Guarantee.
In connection with implementation of the Plan, one or more of the Reorganized Debtors will enter into the Exit Bonding Facility with Travelers, which facility shall be used for the issuance of surety bonds in connection with prosecution of work in the ordinary course by the Reorganized Debtors.
For greater certainty, the Principal hereby acknowledges that EDC shall be under no obligation at any time to permit any use to be made of the Receivables Bonding Facility or the General Support Facility, notwithstanding that the conditions precedent to the provision of any such Support shall all have been satisfied, it being further acknowledged and agreed by the Principal that the provision of such Facilities is at the total and unfettered discretion of EDC.
Bidco will pay or procure payment of fees to Deutsche Bank AG when it acts as Issuing Lender in relation to the issue of Letters of Credit or Lender Guarantees under the Bonding Facility in the amounts and at the times agreed in the separate fee letter with Deutsche Bank AG relating to the Bonding Facility.
For the avoidance of doubt but without prejudice to any applicable insolvency laws, the Issuing Bank may not discharge sums payable by the Company under paragraph 6 of the Bonding Facility Letter by way of set off against any part of the Account Balance of any Account.
The provisions of paragraph 16 (Governing Law and Jurisdiction) of the Bonding Facility Letter shall apply mutatis mutandis as if set out here in full.
The Receivables Bonding Facility shall automatically terminate at the close of business on the day immediately preceding the Termination Date.
Other than with respect to Fee Claims, and except as, and to the extent that, Travelers has the right to contest Claims bonded by Travelers as provided in the Exit Bonding Facility, only the Debtors and the Reorganized Debtors shall have the authority to File, settle, compromise, withdraw or litigate to judgment, objections to Claims.
The pertinent terms and conditions of the Exit Bonding Facility are described in section III.C., "Exit Bonding Facility" below.