JBIC Facility definition
Examples of JBIC Facility in a sentence
Subject to the fulfillment of the conditions referred to in Article XI and the other terms and conditions of this Agreement, JBIC shall disburse the JBIC Facility only in accordance with the Disbursement Procedures.
Upon the occurrence of a JBIC Event of Default pursuant to Section 10.01, JBIC or the JBIC Agent (acting on behalf of JBIC) may, by notice to the Borrower, take the following actions, so long as such actions are taken concurrently: (i) terminate its commitment to make available the JBIC Facility and (ii) declare the JBIC Loan then outstanding, together with accrued interest and any other charges thereon, to be immediately due and payable.
The JBIC Facility Agent shall not have, nor be deemed to have, assumed any obligations to, or a trust or fiduciary relationship with, the other Senior Finance Parties or the Borrower, other than those for which specific provision is made by this Agreement or the other Senior Finance Documents.
The rights and duties of the JBIC Facility Agent are set out in the JBIC Facility Agreement and shall prevail to the extent of any conflict with the provisions of this Clause 22.
On and at any time after the occurrence of an Event of Default which is subsisting, JBIC may (acting in accordance with, and subject to the terms of, the Intercreditor Deed), by written notice to the Intercreditor Agent, instruct it to exercise one (1) or more of the remedies set out in Clause 21 (Events of Default) of the Common Terms Agreement in respect of the JBIC Facility.
The JBIC Facility Agent is authorized by JBIC to execute, deliver and perform each of the Senior Finance Documents relating to each of them to which the JBIC Facility Agent is or is intended to be a party at the instruction of JBIC.
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The Borrower shall submit a Drawdown Notice to the Intercreditor Agent, JBIC and the JBIC Facility Agent at least ten (10) days on which banks are generally open for business in Tokyo, Japan prior to the Requested Drawdown Date.
The Borrower agrees that all computations of interest by the JBIC Facility Agent shall be conclusive in the absence of manifest error.
Such interest shall be due and payable upon demand by JBIC (whether directly or through the JBIC Facility Agent) from time to time in lieu of interest at the rate stipulated in Section 8.4 (Interest Rate) during the Overdue Period.