Senior RCF definition
Examples of Senior RCF in a sentence
In case of enforcement of the Shared Security, any enforcement proceeds will first be applied towards repayment of the Financial Indebtedness incurred by the Issuer under the Super Senior RCF and the Super Senior ▇▇▇▇▇▇ and secondly towards redemption of the Bonds.
In addition, a process, including input from each of the ad hoc committees of Note holders and the Super Senior RCF Lenders, to clarify and resolve outstanding issues including any conditions in relation to both Final Offers was also initiated.
Implementation of both of the Final Offers was conditional upon consent from, inter alia, 50% of Unsecured Noteholders, 50% of Secured Noteholders and in certain circumstances the Super Senior RCF Lenders.
The relationship between the Bondholders, the Existing Bondholders and the creditors in respect of the Super Senior RCF and the Super Senior ▇▇▇▇▇▇ is governed by the Intercreditor Agreement, which, among other things, includes the following principles: Following a Payment Block Event and for as long as it is continuing, no payments may be made by the Issuer to the Bondholders under or in relation to the Bonds (notwithstanding any other provisions to the contrary herein).
If the Issuer repurchases, amortises, cancels, prepays or otherwise repays the Bonds such that the aggregate nominal amount of the Bonds falls below EUR 24,000,000, the Super Senior RCF shall, if requested by the Super Senior RCF Creditor, be cancelled and the relevant ICA Group Companies shall prepay the Super Senior RCF, in each case in an amount pro rata to the amount by which the outstanding nominal amount of the Bonds falls below EUR 40,000,000.
This Agreement is a Senior Facility Agreement and the Senior RCF Agreement.
If the Super Senior RCF Agent so instructs, the Security Agent shall also release any Security over any floating charges (or the equivalent in any other jurisdiction) granted by the Disposed Company.
The Issuer shall submit a Compliance Certificate to the Agent (i) in connection with the testing of each Incurrence Test, and (ii) in respect of the Clean down of the Super Senior RCF and the Material Companies, in connection with the year-end report.
Each Hedge Counterparty agrees that any protection (such as e.g. but not limited to indemnities, limitation of liability etc) given to the Super Senior RCF Agent in its capacity as such under the Super Senior RCF shall apply mutatis mutandis also in relation to it acting as agent for the Hedge Counterparty under this Agreement.
It is a condition under the Super Senior RCF that the Guarantee and Adherence Agreement shall be amended in accordance with the changes set out in Schedule 2 (Amended and Restated Guarantee and Adherence Agreement) (the "Amendments").