Specified Approvals definition
Examples of Specified Approvals in a sentence
This draft included an undertaking by ▇▇▇.▇▇▇▇ to have available at Closing alternative financing sufficient to refinance the indebtedness that is subject to the Specified Approvals.
In connection with the completion of the Merger, Golden Ocean is required to obtain certain amendments, consents or waivers as identified in Golden Ocean’s disclosure letter (collectively, the “Specified Approvals”), or ▇▇▇.▇▇▇▇ and/or Golden Ocean shall have available, or will have available, alternative financing sufficient to refinance any indebtedness for which the Specified Approvals are not obtained.
In case the existing lenders of Golden Ocean are unwilling to extend or refinance the existing facilities and Golden Ocean does not obtain the Specified Approvals, a refinancing will take place of the existing debt with the secured financing described above, which may have, among others, the expected terms, as follows: Golden Ocean is the borrower, the guarantors are ▇▇▇.▇▇▇▇, and the subsidiaries of Golden Ocean that own the vessels are serving as collateral under the loan.