R E C I T A L S The parties desire to enter into this Agreement setting forth the terms and conditions of the employment relationship between the Corporation and the Executive.
Initial Note A-1-1 Holder shall have the meaning assigned to such term in the preamble to this Agreement.
Initial Note A-2-1 Holder shall have the meaning assigned to such term in the preamble to this Agreement.
Initial Note A-1-2 Holder shall have the meaning assigned to such term in the preamble to this Agreement.
B-BBEE means broad-based black economic empowerment as defined in section 1 of the Broad-Based Black Economic Empowerment Act;
Initial Note A-2-2 Holder shall have the meaning assigned to such term in the preamble to this Agreement.
Initial Term Commitment means, as to each Term Lender, its obligation to make an Initial Term Loan to the Borrower pursuant to Section 2.01(a) in an aggregate principal amount not to exceed the amount set forth opposite such Term Lender’s name in Schedule 1.01A under the caption “Initial Term Commitment.” The initial aggregate principal amount of the Initial Term Commitments as of the Closing Date was $2,670,000,000.
Note A-1-2 shall have the meaning assigned to such term in the recitals.
Term SOFR means, for the applicable Corresponding Tenor as of the applicable Reference Time, the forward-looking term rate based on SOFR that has been selected or recommended by the Relevant Governmental Body.
Note A-1-1 Holder means the Initial Note A-1-1 Holder or any subsequent holder of Note A-1-1, as applicable.
Note A-2-1 Holder means the Initial Note A-2-1 Holder or any subsequent holder of Note A-2-1, as applicable.
Note A-1-1 shall have the meaning assigned to such term in the recitals.
Note A-2-1 shall have the meaning assigned to such term in the recitals.
Note A-2-2 shall have the meaning assigned to such term in the recitals.
Tranche B Term Commitment as to any Tranche B Term Lender, the obligation of such Tranche B Term Lender to make an Initial Tranche B Term Loan to the Borrower in the principal amount set forth under the heading “Tranche B Term Commitment” opposite such Tranche B Term Lender’s name on Schedule 2.1 to this Agreement. The aggregate principal amount of the Tranche B Term Commitments as of the Closing Date is $1,025,000,000.
CRR II means Regulation (EU) 2019/876 of the European Parliament and of the Council of 20 May 2019 amending Regulation (EU) No 575/2013 as regards the leverage ratio, the net stable funding ratio, requirements for own funds and eligible liabilities, counterparty credit risk, market risk, exposures to central counterparties, exposures to collective investment undertakings, large exposures, reporting and disclosure requirements, and Regulation (EU) No 648/2012.
BRRD II means Directive (EU) 2019/879 of the European Parliament and of the Council of 20 May 2019 amending Directive 2014/59/EU as regards the loss-absorbing and recapitalisation capacity of credit institutions and investment firms and Directive 98/26/EC.
L/C has the meaning set forth in Section 2.12(a).
Initial Note A-1 Holder shall have the meaning assigned to such term in the preamble to this Agreement.
Incremental Term Commitment means, with respect to any Lender, the commitment, if any, of such Lender, established pursuant an Incremental Facility Agreement and Section 2.21, to make Incremental Term Loans of any Series hereunder, expressed as an amount representing the maximum principal amount of the Incremental Term Loans of such Series to be made by such Lender.
M2M Flowgate means Flowgates where constraints are jointly monitored and coordinated as defined and set forth in Schedule D to this Agreement.
Initial Note A-4 Holder shall have the meaning assigned to such term in the preamble to this Agreement.
Term SOFR Replacement Date has the meaning specified in Section 3.03(b).
Initial Note B-1 Holder shall have the meaning assigned to such term in the preamble to this Agreement.
Term SOFR Loan means a Committed Loan that bears interest at a rate based on clause (a) of the definition of Term SOFR.
Note A-1-2 Holder means the Initial Note A-1-2 Holder or any subsequent holder of Note A-1-2, as applicable.