Examples of IFC Facility in a sentence
The IFC Facility may not be utilised by way of the issue of Letters of Credit and under no circumstances will IFC be required to act or be appointed to act as an LC Issuing Bank.
A sum equal to at least the sum of all amounts drawn down under the IFC Facility shall be applied for purposes in respect of Ghana-related Assets under the Facility.
Where UPS accepts cheques the maximum amount collectible in any form shall not exceed the equivalentof 50.000 USD per package (or other applicable value, if lower).
The Borrower will make payments of all amounts due to IFC under the Finance Documents directly to the account number specified in Clause 10.1 (Accounts) of the IFC Facility Agreement, and IFC will make any payments to the Borrower, without requiring payment through the offices of the Facility Agent.
This is a Utilisation Request in respect of a Utilisation under the IFC Facility.
The provisions of Clause 10 (Prepayment and Cancellation) of the Facility Agreement shall apply in respect of any prepayment or cancellation of the IFC Facility provided that, if requested by IFC, the Borrower delivers to IFC, prior to the date of any such prepayment or cancellation, evidence in form and substance satisfactory to IFC that all necessary Authorisations with respect to the prepayment have been obtained.
IFC may transfer the IFC Facility Commitment or its participation, in part or in whole, to any institution that is a Qualifying Bank without the prior consent of the Borrower.
In addition to the originally-proposed US$6 billion in funding, in discussion with existing global financial institutions (FIs) clients in relation to COVID-19, we have learned that there is demand for IFC to complement the original proposal further by increasing the Global Trade Liquidity Program (GTLP) by an additional US$2 billion, thus increasing IFC’s total deployment capacity to up to US$8 billion (the IFC Facility).
As a result of the above, in addition to the existing Board-approved Delegated Authority for the US$2 billion GTFP, IFC is also seeking Delegated Authority from the Board to set the terms of new investments resulting from the proposed IFC Facility of US$6 billion, comprised of US$2 billion for the RSE, US$2 billion for the WSC and US$2 billion for expansion of the GTLP and CCFP programs.
IFC, the Borrowers and the Additional Secured Facility Lenders (upon accession thereto) have entered or will enter into a Common Terms Agreement dated as of the date hereof (the “Common Terms Agreement”) which sets out, inter alia, certain terms and conditions under which the Lenders shall provide revolving credit facilities to the Borrowers; and This Agreement sets out the additional terms and conditions under which IFC shall provide the IFC Facility to the Borrowers.