Examples of Corresponding Debt in a sentence
The Borrower shall make any prepayment of principal in respect of a Loan under Clause 5.2 (Mandatory Prepayment) on such date and by such time as is required by the IBLA Creditor to enable the IBLA Creditor to redeem the Corresponding Debt in accordance with the terms and conditions governing such Bonds, PP Notes or Institutional Loan.
Each Loan shall bear interest on its principal amount outstanding at a rate per annum equal to the rate of interest applicable to the Corresponding Debt in addition to the Margin.
In addition to the fees set out in Clause 7.1 (Upfront fees) above, the Borrower shall pay to the IBLA Creditor by way of a fee on each Loan Interest Payment Date an amount equal to fees and expenses payable in connection with the relevant Corresponding Debt on such Loan Interest Payment Date.
Subject to the terms of this Agreement, the IBLA Creditor makes available to the Borrower a loan facility in an aggregate amount equal to the aggregate principal amount outstanding of the Corresponding Debt from time to time.
The Borrower’s payment obligations under a Loan shall match the equivalent provisions in the Corresponding Debt so that the IBLA Creditor always receives amounts under the Loan which are at least sufficient to enable it to meet its payment obligations under such Bonds, PP Notes or such Institutional Loan in that same currency, as the case may be.