Examples of Technical Bank in a sentence
Each Borrower shall use all reasonable endeavours to implement the remedial plan (or amended plan provided to the Facility Agent) and shall continue to consult on a regular basis with (and when requested by) the Facility Agent and the Technical Bank on implementation of the plan.
Except for its obligations specifically set out in this Agreement, the Technical Bank has no obligations of any kind to any Party under or in connection with any Finance Document.
The financial covenants set out in Clause 21.1 (Financial covenants) shall be tested by the Technical Bank pursuant to the then current Financial Projection on each Calculation Date and at any other time on notice to the Borrower if the Agent reasonably considers a Default under Clause 21.1 (Financial covenants) has occurred.
The Technical Bank shall request the Independent Engineer to deliver to the Technical Bank, no later than forty days before each Scheduled Redetermination Date and, in the sole discretion of the Technical Bank, at any other time in relation to any Unscheduled Redetermination Date, a Lenders’ Technical Report.
The Borrower shall pay to the Arranger, the Agent, the Technical Bank and the Security Trustee all fees in the amounts and at the times agreed in a Fee Letter.
The Technical Assumptions shall be determined by the Technical Bank acting reasonably on the basis of its good faith opinion and by reference to the Lenders’ Technical Report prepared specifically for the proposed Financial Projection and prices in the Economic Assumptions will reflect any Hedge Agreements entered into by the Borrower in respect of the Borrowing Base Assets.
Each other Finance Party appoints the Technical Bank to act as technical bank under this Agreement.
Each Technical Bank shall be deemed to have approved each Reserve Report delivered pursuant to this Section 4.9(b) unless such Technical Bank shall have delivered an objection in writing to the Borrowers’ Representative within 15 days of the delivery of such Reserve Report.
The Technical Bank shall at the same time deliver to the Borrower a copy of the relevant Lenders’ Technical Report used for the purposes of the proposed Financial Projection.
The Agent, the Technical Bank and the Arranger may accept deposits from, lend money to and generally engage in any kind of banking or other business with the Borrower without consent from any Party.