Examples of RTL Agreement in a sentence
Pursuant to the RTL Agreement, a consortium of banks and financial institutions including SBI had agreed to grant ‘Rupee Terms Loans’ to the RTL obligors under an obligor/co-obligor structure.
We reserve the right to cancel the RTL Agreement on any and all properties at any time.
For details, see “Management’s Discussion and Analysis of Financial Condition and Results of Operations—Financial Indebtedness—Key terms of the RTL Agreement” on page 275.For instance, under the RTL Agreement, the RTL Lenders have engaged a specialised entity (the “Concurrent Auditor”) for monitoring implementation of the terms of the RTL Agreement.
The Rupee Term Loans under the RTL Agreement were to be utilised for the purposes of refinancing of existing rupee debt of the RTL obligors, funding the capital expenditure in relation to the ‘Ravva Field’ and the capital expenditure in relation to the consumer electronics and home appliancesbusiness of the RTL obligors and such other end users as permitted by the facility agent under the RTL Agreement.
The JAL RTL shall be an amount of Rs. 8519,00,00,000 (Rupees eight thousand five hundred and nineteen crores), which shall be assumed by the Transferee on the Closing Date as per the RTL Agreement.
The Rupee Term Loans under the RTL Agreement were to be utilised for the purposes of refinancing of existing rupee debt of the RTL obligors, funding the capital expenditure in relation to the ‘Ravva Field’ and the capital expenditure in relation to the consumer electronics and home appliances business of the RTL obligors and such other end users as permitted by the facility agent under the RTL Agreement.
In this context it is submitted that it is imperative to look at the substance of the transactions undertaken in terms of the RTL Agreement whereby money has been lent by the lenders only to a few of the group companies, but all the other companies (such as KAIL) have also been made co-borrower for the entire amount when, as a matter of fact, they have not been disbursed any debt/money from such lenders.
Infact, Infotel’s own letter to the RP of KAIL dated 15.10.2018 reveals that the obligation of KAIL under the RTL Agreement is a “primary” obligation of KAIL.
In accordance with the RTL Agreement, the RTL Borrowers are required to reduce the loan sanctioned by REC to₹2,178.00 crore through various ways, including: (a) asset monetization by disposal of Non-Core Assets; and (b) a rights issue of Equity Shares up to at least ₹1,200.00 crore within a period of six months of the disbursement of the loan sanctioned by REC.
It has been agreed between the RTL lenders and VTL lenders to share the security available to the RTL lenders under the RTL Agreement (including receivables from each of the Obligors) with the VTL Lenders under the VTL facility agreements (including receivables from VTL) on a reciprocal first pari passu basis.