New Facility Agent definition
Examples of New Facility Agent in a sentence
The New Facility Agent is to become the Facility Agent for the purposes of the Security Deed.
As of the date hereof, the Existing Facility Agent is the Representative of the Existing Lenders under the Existing Credit Agreement and the New Facility Agent is the Representative of the New Lenders under the New Credit Agreement.
For each Existing Facility and New Facility, Agent will pay for or cause to be paid, the Costs of the Property with the payments made and to be made by Owner pursuant to Article III hereof and, to the extent required in this Agreement, with its own funds.
If a successor to the Facility Agent is appointed under the provisions of Clause 23.11 (Successor Facility Agent) or Clause 23.12 (New Facility Agent), then (a) the retiring Facility Agent shall be discharged from any further obligation hereunder but shall remain entitled to the benefit of the provisions of this Clause 23 and (b) its successor and each of the other parties hereto shall have the same rights and obligations amongst themselves as they would have had if such successor had been a party hereto.
The New Facility Agent hereby agrees to be bound by all of the terms of the CTA as if it had originally been party thereto.
By the entry into of this Accession Letter, and from the date hereof, the New Facility Agent hereby accepts its appointment as Facility Agent and assumes all the rights and obligations of Facility Agent under the Agency Agreement.
For the avoidance of doubt, the New Facility Agent shall not be liable for any actions or inactions having occurred prior to its appointment as Facility Agent on the date hereof.
By the decision of [the Bondholders / the District Court of Reykjavík] on [date], in accordance with Clause 3.1.2 of the Agency Agreement, [New Facility Agent] has been appointed as a replacement Facility Agent (the „New Facility Agent“) to succeed the Former Facility Agent in the role of Facility Agent under the Agency Agreement.
In the event that all of the Company’s obligations under a New Facility Agreement have been paid in full and discharged, the Collateral Series Bonds issued to secure such New Facility Agreement shall be deemed paid in full and the New Facility Agent (or, in the case of the Series F Bonds, the Maricopa LC Creditors) holding such Collateral Series Bonds shall surrender such Bonds to the Trustee for cancellation.
If a successor to the Facility Agent is appointed under the provisions of Clause 24.11 (Successor Facility Agent) or Clause 24.12 (New Facility Agent), then (a) the retiring Facility Agent shall be discharged from any further obligation hereunder but shall remain entitled to the benefit of the provisions of this Clause 24 and (b) its successor and each of the other parties hereto shall have the same rights and obligations amongst themselves as they would have had if such successor had been a party hereto.