Intermediation Facility means, as applicable,
Intermediation Facility means (x) the Refining Intermediation Facility, (y) the Renewables Intermediation Facility, and (z) any other intermediation, monetization, supply and offtake or similar arrangement entered into by any Loan Party, that provides for the purchase and/or sale or the financing of any Loan Party of Intermediation Facility Priority Collateral, and the transactions contemplated thereby and entered into thereunder and in connection therewith, in each case, as amended, amended and restated, replaced, supplemented or otherwise modified from time to time, subject to an Intercreditor Agreement.
Intermediation Facility means any crude oil or other feedstock supply agreements, natural gas supply agreements, hydrogen supply agreements, or off-take agreements relating to intermediate or refined products, in each case entered into by one or more Restricted Subsidiaries (the “Intermediation Subsidiaries”) (and, if applicable, Guaranteed by the Borrower) with a counterparty for purposes of facilitating a customary intermediation arrangement, together with all related storage agreements, pipeline agreements, throughput and tankage or similar agreements, marketing and sales agreements, agency agreements, security agreements, account control agreements, other collateral documents and other ancillary agreements among such parties, in each case as any of the same may be extended, renewed, amended, supplemented, restated, amended and restated or otherwise modified from time to time, or refinanced and/or replaced with another Intermediation Facility from time to time and in whole or in part; provided, that (i) the terms of any Intermediation Facility shall (A) be not materially more disadvantageous to the Lenders, taken as a whole, as compared to the terms of the Existing Intermediation Documents in effect on the Closing Date, or (B) otherwise be on then market terms for intermediation facilities at the time of execution thereof, taken as a whole, as determined in good faith by an Authorized Person of the Borrower, (ii) such Intermediation Facility shall be in the ordinary course of business, consistent with past practices and not for speculative purposes and (iii) no Intermediation Facility shall provide for any Lien on any assets other than Intermediation Collateral owned by such Intermediation Subsidiaries.
Examples of Intermediation Facility in a sentence
If an “event of default”, termination event or similar or equivalent event has occurred and is continuing under any agreement governing Indebtedness in excess of $3,000,000 to which Parent or a Subsidiary, including Borrower, is a party with a third party or parties (other than any Intermediation Facility Documents).
If an “event of default”, termination event or similar or equivalent event has occurred and is continuing under any Intermediation Facility Documents.
More Definitions of Intermediation Facility
Intermediation Facility means that certain Supply and Offtake Agreement, dated as of April 1, 2022, entered into by and among the Intermediator and certain of the Loan Parties (including any replacement or refinancing of thereof), as amended, modified or supplemented from time to time in accordance with the terms thereof and subject to and in accordance with the terms and conditions of an Acceptable Intermediation Order.
Intermediation Facility means the Refining Intermediation Facility, as amended, amended and restated, replaced, supplemented or otherwise modified from time to time, subject to an Intercreditor Agreement.
Intermediation Facility means the Intermediation ISDA 2002 agreement dated as of October 6, 2017 between the Corporation, Parkland Refining and a financial institution to fund a portion of the working capital requirements of the Burnaby Refinery operations acquired as part of the Chevron Acquisition, as amended;
Intermediation Facility means the intermediation facility documented in that certain Sixth Amended and Restated Supply and Offtake Agreement, dated June 18, 2019 (as amended from time to time), by and among the Intermediation Provider, PESRM, and the other transaction parties thereto.
Intermediation Facility means (x) that certain Supply and Offtake Agreement, dated as of the Closing Date, entered into by Refining Intermediation Facility, (y) the certain of the Loan Parties (including any replacement or refinancing of thereof) subject to and in accordance with the terms and conditions of the Intercreditor Agreement and (yRenewables Intermediation Facility, and (z) any other intermediation, monetization, supply and offtake or similar arrangement entered into by theany Loan Partiesy, that provides for the purchase and/or sale or the financing of theany Loan Partiesy of Intermediation Facility Priority Collateral, and the transactions contemplated thereby and entered into thereunder and in connection therewith, in each case, as amended, amended and restated, replaced, supplemented or otherwise modified from time to time, subject to a Marketan Intercreditor Agreement.
Intermediation Facility means (x) that certain Supply and Offtake Agreement, dated as of the date hereof, entered into by the certain of the Loan Parties (including any replacement or refinancing of thereof) subject to and in accordance with the terms and conditions of the Intercreditor Agreement and (y) any other intermediation, monetization, supply and offtake or similar arrangement entered into by the Loan Parties, that provides for the purchase and/or sale or the financing of the Loan Parties of Intermediation Facility Priority Collateral, and the transactions contemplated thereby and entered into thereunder and in connection therewith, in each case, as amended, amended and restated, replaced, supplemented or otherwise modified from time to time, subject to a Market Intercreditor Agreement.
Intermediation Facility means any transaction or series of transactions that may be entered into by the Company or any Restricted Subsidiary pursuant to which the Company or any Restricted Subsidiary may sell, convey or otherwise transfer to a Person, or may grant security interest in, any Petroleum Product inventory (whether now existing or arising or acquired in the future) of the Company or any Restricted Subsidiary, and any assets related thereto, all contracts and all guarantees or other obligations in respect of such inventory, proceeds of such inventory and any account into which such proceeds are to be deposited and other assets which are customarily transferred or in respect of which security interests are customarily granted in connection with Petroleum Product intermediation transactions and any Hedging Transaction entered into by the Company or any such Restricted Subsidiary in connection with such Petroleum Product.