Ancillary Facilities Sample Clauses
The Ancillary Facilities clause defines the rights and responsibilities related to additional facilities or services that support the main purpose of an agreement, such as parking areas, storage spaces, or shared amenities. This clause typically outlines which party is responsible for maintaining these facilities, the terms of access, and any associated costs or restrictions. Its core function is to ensure clarity regarding the use and management of supplementary spaces or services, thereby preventing disputes and misunderstandings between the parties.
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Ancillary Facilities amend the Credit Agreement to provide for an ability to incur bilateral ancillary lines with a Lender (with the consent of that Lender) as a carve-out to the Revolving Facility Commitments.
Ancillary Facilities amend the Credit Agreement to provide that (i) a date specified in a conversion notice as the effective date for an ancillary facility commitment may be a date not less than 3 Business Days after the date such conversion notice is received by the Facility Agent, (ii) any proposed increase or reduction or extension of the ancillary facility commitment shall only take effect from a date not less than 3 Business Days after the date the Facility Agent has received notice of the relevant modification or variation or extension and (iii) an ancillary facility lender may demand repayment or prepayment of any amounts under its ancillary facility if the ancillary facility outstandings under that ancillary facility can be repaid by a revolving facility advance (and not less than 7 Business Days notice (or such shorter period as agreed to by the Company) is given to the relevant Borrower before payment becomes due).
Ancillary Facilities. (a) If any Borrower and any Ancillary Lender agree, subject to compliance with the requirements set forth in this Section 2.23, such Ancillary Lender shall be permitted to provide an Ancillary Facility on a bilateral basis to such Borrower. To the extent any Ancillary Facility exists, the following shall apply:
(i) The applicable Revolving Commitment of the Ancillary Lender shall:
(A) be deemed to be utilized by its applicable Ancillary Commitment for purposes of (1) calculating the commitment fee payable to such Ancillary Lender pursuant to Section 2.12(a) and (2) calculating the aggregate remaining amount of Revolving Exposure of all applicable Revolving Lenders available under the Revolving Facility (it being understood the commitment fee payable pursuant Section 2.12(a) to Lenders without an Ancillary Facility shall not be modified by the existence of any Ancillary Facility and for purposes of such calculation it shall be assumed that each such Lender’s Revolving Commitments have not been reduced as a result of such Ancillary Facility) (such remaining amount, the “Remaining Revolving Exposure”) and
(B) not be deemed to be utilized by the Ancillary Commitment of the applicable Ancillary Lender for purposes of determining whether the Dollar Equivalent of such Ancillary Lender’s Revolving Exposure exceeds its applicable Revolving Commitment (and therefor whether such Ancillary Lender is required to make or participate in a Loan or Letter of Credit under this Agreement).
(ii) Borrowings of the Remaining Revolving Exposure shall be made on a pro rata basis among the Revolving Lenders of the applicable Class (including the applicable Ancillary Lenders) pursuant to and subject to the limitations set forth in Section 2.01.
(b) To request the creation of an Ancillary Facility, any Borrower shall deliver to the Administrative Agent not later than five (5) Business Days (or such shorter period agreed to by the Administrative Agent) prior to the first date on which such Ancillary Facility is proposed to be made available:
(i) a notice in writing specifying:
(A) the Borrower or Borrowers to which extensions of credit will be made available thereunder;
(B) the first Business Day on which such Ancillary Facility shall be made and the expiration date of such Ancillary Facility (which shall be no later than the Revolving Maturity Date);
(C) the type of Ancillary Facility being provided;
(D) the identity of the Ancillary Lender(s); and
(E) the amount and currency of the...
Ancillary Facilities. The rate and time for payment of interest, commission, fees and other remuneration in respect of each Ancillary Facility shall be determined by agreement between the relevant Ancillary Lender and the borrower of that Ancillary Facility based upon normal market rates and terms.
Ancillary Facilities. 25.1 The LFC, at its discretion, may specify whether car parking, toilet and/or kitchen facilities at a Central Office are available to the Service Provider. If these facilities are available they may be used by representatives of the Service Provider during any period such representatives are working at the Central Office subject to any conditions specified by the LFC as to the use of such facilities.
Ancillary Facilities. On the occurrence of an Event of Default and whilst the same is continuing, an Ancillary Lender may (but prior to notice being served under Clause 23.2 (Cancellation and Repayment) only if so instructed by the Agent on the instructions of the Majority Lenders) and shall if so instructed by the Majority Lenders:
(a) terminate the availability of the Ancillary Facilities, whereupon the Ancillary Facilities shall cease to be available and the relevant Ancillary Lender shall no longer be under any obligation to provide any credit provided for thereunder; and/or
(b) declare all amounts outstanding under the Ancillary Facilities due and payable whereupon such amounts shall become due and payable together with accrued interest thereon and any other sum then payable under the relevant Ancillary Documents; and/or
(c) require the provision of cash cover whereupon the relevant Borrowers shall immediately provide cash cover in an amount equal to the contingent liability of the Ancillary Lender under those Ancillary Documents which give rise to a contingent liability on the part of the Ancillary Lender; and/or
(d) terminate any foreign exchange or hedging agreement entered into by the Ancillary Lender under the terms of the Ancillary Facilities.
Ancillary Facilities. Subject to the terms of this Agreement, a Lender may also make available certain other bi-lateral facilities to the Borrowers in respect of the Revolving Credit Facility in place of all or part of its Revolving Credit Commitment.
Ancillary Facilities. The amount and timing of payments of interest in respect of any Ancillary Facility will be agreed by the relevant Ancillary Lender and the Borrower under such Ancillary Facility.
Ancillary Facilities. Any Lender and its Affiliates may, in their sole discretion, from time to time at Borrower’s request, enter into any Ancillary Facilities with Borrower from time to time on terms and conditions to be negotiated on a transaction-by-transaction basis. The Lenders and their Affiliates make no commitment to enter into or arrange any Ancillary Facilities with ▇▇▇▇▇▇▇▇ and may at any time, in their sole and absolute discretion, decline to enter into any Ancillary Facilities. In addition to any security provided for in connection with such Ancillary Facilities (as may be permitted pursuant to this Agreement), any Ancillary Facilities entered into by a Lender or its Affiliate with Borrower shall be secured by the Security granted under this Agreement. Any rights of the Lenders herein are in addition to and not in limitation of or substitution for any rights of the Lenders under any agreement governing any Ancillary Facility.
Ancillary Facilities. Any credit balances taken into account by an Ancillary Lender when operating a net limit in respect of any overdraft under an Ancillary Facility shall on enforcement of the Finance Documents be applied first in reduction of the overdraft provided under that Ancillary Facility in accordance with its terms.