Examples of JPM Facility in a sentence
The Company is a “Financing Subsidiary” under and as defined in the JPM Facility Documents.
The Company is currently projecting that it will not be able to maintain compliance with its financial covenants (fixed charge coverage ratio and leverage ratio) for the quarter ended June 30, 2020, as well as in future periods, in relation to both the JPM Facility and Ares Term Loan agreements.
The proceeds of the Loans will be used, together with proceeds of other debt financings and/or cash on hand, to repay in full all of the obligations of the Borrower and the Guarantors under and in connection with the April 2011 JPM Facility, to pay related transaction costs, fees and expenses, and for working capital and other general corporate purposes of the Borrower and its Subsidiaries.
So long as the JPM Facility Documents are in effect and the Equity Owner is the “borrower” thereunder, the Borrower is a “Financing Subsidiary” or a “Consolidated Managed Fund” under and as defined in the JPM Facility Documents.
Our borrowings under the Ares Term Loan and JPM Facility expose us to market risk related to changes in interest rates.
The proceeds of the Loans and Letters of Credit shall be used to repay amounts outstanding under the April 2011 JPM Facility and for working capital and other general corporate purposes of the Borrower and its Subsidiaries (including the repayment of Indebtedness and the payment of fees and transaction costs as contemplated hereby and as referred to in Section 2.19 and 2.20).
The JPM Facility is interest-only and matures and is due in full on March 1, 2023.
The interest rates on amounts drawn under the JPM Facility were determined with reference to the benchmark interest rate promulgated by PBOC at the time when the JPM Facility was entered into.
In addition, Tianrui Cement and nine of its subsidiaries in the PRC, namely, Ruzhou Cement, Antai Cement, Zhoukou Cement, Shangqiu Cement, Yingkou Cement, Liaoyang Cement, Nanzhao Cement, Weihui Cement and Zhengzhou Tianrui (together, the “Borrowers”), entered into the JPM Facility pursuant to a facility agreement on August 22, 2007 with a syndicate of financial institutions led by JPM on a joint and several basis.
To be consistent with those contained in VHL’s five-year secured letter of credit facility with JPMorgan Chase Bank and the lenders identified therein dated 12 March 2007 (as amended, the “JPM Facility Agreement”), which includes:- · Minimum consolidated net worth of the Guarantor (as defined and at the levels set forth in the JPM Facility Agreement).