Syndicate Arrangement definition

Syndicate Arrangement means an arrangement entered into by a managing agent at Lloyd’s on behalf of the Account Party together with the other syndicate members with respect to financing or reinsurance for the purposes of or in connection with the underwriting business carried on by all such members of that syndicate.

Syndicate Arrangement means any arrangement entered into by a managing agent at Lloyd’s on behalf of the Account Party together with the other members of a syndicate with respect to financing or reinsurance for the purposes of or in connection with the underwriting business carried on by all such members of that syndicate.

Syndicate Arrangement means any arrangement (whether pursuant to guarantees, letters of credit or otherwise) entered into by a managing

Examples of Syndicate Arrangement in a sentence

• The Borrower shall not (and shall ensure that no Material Subsidiary will) without the prior written consent of the Agent, incur or permit to subsist any Financial Indebtedness other than (a) under the Finance Documents, (b) under any Syndicate Arrangement, (c) as may be permitted under the U.S. Facility Agreement or (d) as the Agent may otherwise agree.

• From and after the Completion Date, promptly after the incurrence of any Indebtedness arising under a Syndicate Arrangement, notice of such incurrence of Indebtedness arising under a Syndicate Arrangement, including the amount thereunder.

• Promptly after the incurrence of any Indebtedness arising under a Syndicate Arrangement, notice of such incurrence of Indebtedness arising under a Syndicate Arrangement, including the amount thereunder.

• Where the Fund invests in an Investee Company alongside our other clients (for example, the Par Syndicate), Arrangement Fees and Monitoring Fees will be allocated pro rata to investment amounts in determining the recovery of fees for the benefit of the Fund.

• The Borrower shall not (and shall ensure that no other Material Company will) without the prior written consent of the Agent, incur or permit to subsist any Financial Indebtedness other than (a) under the Finance Documents, (b) under any Syndicate Arrangement, (c) as may be permitted under the U.S. Facility Agreement or (d) as the Agent may otherwise agree.

• The Borrower shall not (and shall ensure that no other member of the Group will) without the prior written consent of the Agent, incur or permit to subsist any Financial Indebtedness other than (a) under the Finance Documents, (b) under any Syndicate Arrangement, (c) as may be permitted under the U.S. Facility Agreement or (d) as the Agent may otherwise agree.

More Definitions of Syndicate Arrangement

Syndicate Arrangement means any arrangement (whether pursuant to guarantees, letters of credit or otherwise) entered into by the Managing Agent on behalf of the Corporate Member, together with the other Members of the Managed Syndicate with respect to financing or reinsurance for the purposes of or in connection with the underwriting business carried on by all such Members of the Managed Syndicate.

Syndicate Arrangement means any arrangement (whether pursuant to guarantees, letters of credit or otherwise) entered into by a managing agent at Lloyd’s on behalf of the Applicants together with the other members of a syndicate with respect to financing or reinsurance for the purposes of or in connection with the underwriting business carried on by all such members of that syndicate; T2 means the real time gross settlement system operated by the Eurosystem, or any successor system; TARGET Day means any day on which T2 is open for the settlement of payments in euro; Tax means any tax, levy, impost, duty or other charge or withholding of a similar nature (including any penalty or interest payable in connection with any failure to pay or any delay in paying any of the same); Term means, save as otherwise provided herein, in relation to any Letter of Credit, the period from its Utilisation Date until its Expiry Date; Total Commitments means, at any time, the aggregate of the Lenders’ Commitments, being $230,000,000 as at the 2023 Restatement Date; Total FAL means in relation to the Applicants, aggregate of all Funds at Lloyd’s of the Group (including, but not limited to Own FAL);