Senior Funders definition
Examples of Senior Funders in a sentence
The Authority shall be entitled to rely on the certificate of the [Senior Funders' Agent] as conclusive as to the amount of the Base Senior Debt Termination Amount or Revised Senior Debt Termination Amount (as the case may be) outstanding at any relevant time.
The Authority may transfer its rights and obligations under this Agreement to any permitted assignee of its interest in the Design Build Finance and Maintain Agreement and the Agent and the Senior Funders shall co-operate with the Authority in completing the formalities of any transfer or assignment including by executing any additional documents as may be required by the Authority.
To cover any payment default and with the benefit of the same grace period (if any) as permitted by Senior Funders (as defined in the Authority Project Agreement).
For the avoidance of doubt, this requirement shall not extend to the Senior Funders.
The Authority may, in the circumstances referred to in Clause 4.10 above, require Project Co to attend, and use all reasonable endeavours to ensure that the Senior Funders attend, such meetings as the Authority may convene to discuss the circumstances.
Common to all policies in Section 2 (Policies to be taken out by Project Co and maintained from the Actual Completion Date) (unless stated otherwise): Authority Project Co Service Provider Service Provider's sub-contractors Senior Funders Subordinated Funders each for their respective rights and interests in the Project.
Project Co shall promptly upon a failure by the Senior Funders to advance amounts due under the Senior Funding Agreements (or in circumstances that might reasonably be expected to lead to such a failure) notify the Authority of such failure (or expected failure).
Project Co shall continue to be bound by the terms of the Design Build Finance and Maintain Agreement, notwithstanding the occurrence of a Step-In Notice, a Step-In Period, a Step-Out Notice, Step-Out Date, any action by the Agent or Appointed Representative or the Senior Funders and/or any provision of this Agreement.
Unless agreed by the parties, a novation to a vehicle controlled by the Senior Funders under the Funders’ Direct Agreement should not on its own be sufficient to constitute a Liquid Market.
Project Co may, at its own cost, appoint a person to monitor the Tender Process for the purpose of monitoring and reporting to Project Co and the Senior Funders on the Authority's compliance with the Tender Process.