Examples of Revolving Facility B in a sentence
All other terms from the previously existing VM Revolving Facility will continue to apply to VM Revolving Facility A and VM Revolving Facility B.
As of December 31, 2018, VM Revolving Facility A was a multi-currency revolving facility maturing on December 31, 2021 with a maximum borrowing capacity equivalent to £50.0 million and VM Revolving Facility B was a multi-currency revolving facility maturing on January 15, 2024 with a maximum borrowing capacity equivalent to £625.0 million.
A currency will constitute an Optional Currency in relation to a Revolving Facility B Utilisation if it is in US$, Pounds Sterling or another currency agreed to by all Lenders.
The Company also extended the maturity of its Credit Agreement to February 2027 for all facilities except Revolving Facility B, which will be available until February 2023.
Each Borrower may, if it gives the Agent not less than five (5) Business Days’ (or such shorter period as the Majority Lenders may agree) prior notice, prepay the whole or any part of a Loan drawn by it under the Facility made available to it (but, if in part, being an amount that reduces that Loan by a minimum amount of US$5,000,000 for Revolving Facility A and €5,000,000 for Revolving Facility B).
A Revolving Facility B Lender may issue and act as Lender in respect of a Letter of Credit by any Affiliate it nominates for this purpose in writing to the Issuing Agent.
Each such notice must be received by the Agent no later than 11:00 a.m. (London time) three (3) Business Days prior to the requested date of any borrowing of Revolving Facility B Loans denominated in the Base Currency.
The accrued utilisation fee with respect to Revolving Facility A shall be payable in US Dollars and the accrued utilisation fee with respect to Revolving Facility B shall be payable in Euro in each case starting from the date of first Utilisation under the Facilities, quarterly in arrears and on the date on which all outstanding amounts under the Facilities are prepaid and the Facilities are cancelled in full.
The amount of a proposed Letter of Credit issued under Revolving Facility B must be an amount the Base Currency Amount of which is not more than the Available Revolving Facility for Facility B and when aggregated with the Base Currency Amount of all other Letters of Credit then in issue under Revolving Facility B does not exceed the Guarantee Sub-limit.
On February 24, 2022, to facilitate the financing for its recent acquisitions, the Company amended its Credit Agreement to increase the size of its Credit Facilities to $550,000, inclusive of two swingline facilities in aggregate amount of $23,000, and a Revolving Facility B amounting to $50,000.