Examples of PSP Fund in a sentence
As of the date hereof, the Investor has delivered to the Company a true, complete and correct copy of the Equity Commitment Letter from the PSP Fund pursuant to which the PSP Fund has agreed, subject only to the terms and conditions thereof, to invest in Investor the amounts set forth therein (the "Financing").
No event has occurred which, with or without notice, lapse of time or both, would or would reasonably be expected to constitute a default or breach on the part of the Investor or the PSP Fund under the Equity Commitment Letter.
As of the date hereof, the Equity Commitment Letter is valid and in full force and effect and constitutes the valid and binding obligation of the PSP Fund, enforceable in accordance with its terms, except as such enforceability may be limited by the Bankruptcy and Equity Exception.
Except as expressly set forth in this Agreement or the Equity Commitment Letter, there are no conditions precedent to the obligations of the PSP Fund to provide the Financing.
The PSP Fund is an intended third party beneficiary of Section 5.06, Section 5.13 and Section 5.20.
A sensitive question is which Office /Ministry /Agency should be representing the shareholder or portfolio Minister towards the PSP Fund.
The aim should be not to deviate too much from the provisions of the Pension Funds Act, 1956 (or FIM Bill, thereafter), as this may be construed that the PSP Fund is treated more lenient than private funds with regard to prudential requirements.
The oversight roles can also be split between the Prime Minister, being responsible for the appointments and governance of the PSP Fund, and the Minister of Finance with the assistance of NAMFISA, being responsible for the financial performance and management of the Fund.
For the avoidance of doubt, failure of the stockholders of the Company to elect any Investor Director Designee to the Board shall not affect the right of the Investor or the PSP Fund to nominate directors for election pursuant to this Section 5.13 in any future election of directors.
The Investor and the PSP Fund shall not be required to comply with the advance notice provisions generally applicable to the nomination of directors by the Company so long as the Investor or the PSP Fund provide reasonable advance notice to the Company of the Investor Director Designees prior to the mailing of the Proxy Statement by the Company (provided, that the Company shall provide reasonable advance notice to the Investor and the PSP Fund of the expected mailing date).