Sterling Facility definition
Examples of Sterling Facility in a sentence
The Sterling Facility and the proceeds of the Sterling Loans shall be used by the Sterling Subsidiary Borrowers for working capital and other general corporate purposes (which shall include any purpose expressly permitted by the Credit Agreement) of the Sterling Subsidiary Borrowers; provided that, notwithstanding the foregoing, none of the proceeds of the Sterling Loans may be used to finance any Hostile Take-Over Bid.
CSC or its applicable Subsidiary and Computer Sciences GS or its applicable Subsidiary shall enter into a lease of portions of the Sterling Facility on the terms set forth on Schedule 3.3 pursuant to a lease agreement substantially in the agreed form attached hereto as Exhibit 5.
The obligations of Limited to repay all amounts borrowed by it as Sterling Eurocurrency Loans and Sterling Overdraft Advances, all interest thereon and all other amounts payable by it in respect thereof shall be evidenced by this Credit Agreement, it being the intention of the parties hereto that Limited's obligations with respect to the Sterling Facility Loans owed by it is evidenced only as stated herein and not by separate promissory notes or other instruments.
The Borrowers shall pay to the Agent for its own account on the date hereof an arrangement fee equal to two fifths of one per cent of each of the Facility Amount of each of the Dollar Facility and the Sterling Facility.
The Borrowers shall pay to the Agent for the account of the Banks a commitment commission on the amount of each of the Available Dollar Facility and the Available Sterling Facility from day to day during the period beginning on the date hereof and ending on the Final Maturity Date, such commitment commission to be calculated at the rate of three quarters of one per cent.
Interest is payable to the Bank on the total of the debit balances on the Sterling Facility Accounts at the Sterling Interest Rate.
At any time of determination, the Dollar Equivalent at such time of the sum of the Total DM Facility Usage and the Total Sterling Facility Usage.
Any existing or prospective customers of Surna will be required to execute a non-disclosure agreement prior to taking a demonstration tour of the Sterling Facility.
In the event this Agreement is terminated or expires pursuant to Section 4 hereof, Sterling agrees to provide access to Surna and its employees and agents in order to promptly remove the Equipment from the Sterling Facility, at Surna’s cost, provided that Sterling shall cooperate with and assist Surna, as reasonably requested by Surna, in the takedown and disassembly of the Equipment.
Sterling Facility Commitment Fee...............................................33 4.