Examples of RBL Facility Agreement in a sentence
The Statement of Equal Opportunity policy and applicable procedures will be published and executed by each technical college.
Where a disposal of a borrowing base asset is to be made, the RBL Facility Agreement includes a disposal mechanism which must be complied with for effective release of the security.
The RBL Facility Agreement contemplates that any security relating to or over any borrowing base assets, which includes the Interests and the Dussafu Assets, will need to be released on a disposal of those assets.
There is no requirement under the RBL Facility Agreement for lender consent to be obtained for Tullow’s disposal projection, so long as it is prepared in accordance with the terms of the RBL Facility Agreement and verified as such by Lloyds Bank plc as the global modelling bank.
As part of this disposal mechanism, Tullow is required to prepare a disposal projection in accordance with the terms of the RBL Facility Agreement showing the removal of Interests and the Dussafu Assets from the borrowing base.
WAIVER With effect from the Effective Date, the Lenders waive the requirements of Clause 20.23 ( RBL Facility Agreement) of the Facility Agreement for thepurposes of giving effect to the terms of the RBL Deed of Amendment and Restatement.
The margin from the date of the agreement to the second anniversary of the 2021 RBL Facility Agreement shall be 4.75 per cent.
The New RBL Facility is based primarily on the existing Chrysaor RBL Facility Agreement that it replaced, which was originally entered into on 30 January 2017 and amended and restated on 3 June 2020.
The facility is structured as a revolving facility with three or six month repayment periods and with the facility amortising over the four year term.The 2021 RBL Facility Agreement contains customary representations, undertakings, covenants and events of default with appropriate carve-outs and materiality thresholds, where relevant.
The securities granted by the Group under the 2018 RBL Facility Agreement continue to remain in place in relation to the 2021 RBL Facility Agreement and, in certain cases, have been supplemented by further securities on equivalent or similar terms.