Examples of Equity Bridge in a sentence
The Equity Bridge Loans have a two year term to maturity and an interest rate of 9.5%.
The secured loans consist of a loan of £31.8 million split into three sections, a term loan expiring September 2029, an Equity Bridge loan expiring September 2029 and a Ramp Up Facility expiring August 2004.
Interest payable amounts are based on LIBOR plus 0.60% for the term loan and the Equity Bridge loan and LIBOR plus 1.75% for the Ramp Up Facility.
The net proceeds of the Offering will be applied to pay down all of the amount owing under Equity Bridge Loan and a portion of the amount owing under the Credit Facility.
Amounts due and owing to Bank of Montreal under the Credit Facility and Equity Bridge Loan must be paid before any distribution can be made to Unitholders.
The Guarantors ------------------------------------------------ make the representations and warranties contained in this Section 8 for the --------- benefit of the Equity Facility Agent and each Equity Bridge Lender.
On the Closing Date a syndicate of lenders also provided the Company with a senior unsecured equity bridge term loan facility of $135 million (the " Extended Bridge Loans") and a senior unsecured equity bridge term loan facility of $45 million (the "Equity Bridge Loans" and together with the Extended Bridge Loans, the "Bridge Facilities").
Neither Guarantor shall -------------------------------------- consolidate or merge into, or transfer its properties and assets substantially as an entirety to, another Person, unless (i) the surviving Person, if other than such Guarantor, or the transferee, assumes by supplemental agreement satisfactory in form and substance to the Equity Bridge Lenders all the Guaranteed Obligations and (ii) after giving effect to such assumption, there would not exist any Default or Event of Default.
The Corporation replaced the Equity Bridge Facility with the proceeds of the offering (the “Equity Offering”) by way of a prospectus supplement dated March 29, 2017 (the “Prospectus Supplement”) to a short form base shelf prospectus dated February 24, 2016 of common shares in the capital of the Corporation (“Common Shares”) completed on April 6, 2017.
As of the date of this Agreement, other than the termination of the Equity Bridge Commitment Letter from and after the Equity Financing Closing Date, no amendment, modification or supplement is contemplated to be made to any of the Debt Commitment Letters and none of the obligations and commitments contained in the Debt Commitment Letters have been withdrawn, terminated or rescinded in any respect.