Description of debt financing Sample Clauses

Description of debt financing. The Manager was prior to the Transaction, on behalf of the Group, conducting an evaluation of debt financing options. A request for a proposal was distributed to a number of banks in order to map the bank financing alternatives available to the Company. The Manager has also evaluated to finance the acquisition through a bond issue. Based on indicative terms from banks and other lenders, more detailed discussions were initiated with one of the banks. The main terms of the Debt Facility are as follows:
AutoNDA by SimpleDocs
Description of debt financing. The Manager was prior to the Transaction, on behalf of the Group, conducting an evaluation of debt financing options. The Manager has chosen to finance the acquisition through a bond issue and negotiated commercial terms with a few Swedish bond investors. The main terms are as follows: Main debt terms Amount: SEK 375 million LTV 62.5% Maturity: 3.7 years Interest rate: Fixed rate coupon of 4.00% p.a., payable quarterly in arrears Price: Issued at 97.00% of the nominal amount Amortisation: Not applicable Maintenance • LTV < 75% covenants: • ICR > 1.75x Incurrence covenants • LTV < 70% • ICR > 2.00x Special undertakingsNegative pledge Call structure (American) • Make whole 36 months • Thereafter callable @ 100% + 50.0/25.0/10.0% of the coupon after 36/38/41 months respectively Security package: (i) first ranking share pledge in respect of all shares in each of the Issuer and all direct and indirect subsidiaries of the Issuer (including each partnership, each Target and each Property Owning Company), (ii) first ranking pledge over any insurance claims above a certain threshold, (iii) a first ranking pledge over each Intercompany Loans made to the direct and indirect subsidiaries of the Issuer, and (iv) first ranking pledge over mortgage certificates in the total Nominal Amount of at least the Allocated Loan Amount for the Properties securing all amounts outstanding under the Finance Documents and intragroup loans from the Issuer to the Property Owning Companies Initial fee: One-time fee of 2.00% of the loan amount (being in aggregate SEK 7,500,000) Sources: the Company The Company has issued a bond to the investors based on the commercial terms set out above. Based on the figures provided in the term sheets and cost efficient leases, the credit metrics of the Company are strong. Break-even rent (pre amortisation and dividends) is estimated to approximately SEK 196 per sqm in 2018, to be compared with the Company’s expected weighted average rent of approximately SEK 437 per sqm. This equals a theoretical rent decrease of 55%. ICR and the debt service coverage ratio (DSCR) are expected to amount to 2.7 times EBITDA, respectively in 2018.
Description of debt financing. The Manager has, on behalf of the Group, conducted an evaluation of debt financing options. A request for a proposal has been distributed to a number of Nordic banks in order to map the bank financing alternatives available to the Company. Based on the bank loan request process, more detailed discussions were initiated with SBAB Bank AB (publ). The terms of the Debt Facility are as follows:
Description of debt financing. The Manager has, on behalf of the Group, conducted an evaluation of debt financing options. A request for a proposal has been distributed to a number of Nordic banks in order to map the bank financing alternatives available to the Company. Based on the bank loan request process, more detailed discussions were initiated with SBAB Bank AB (publ). The terms of the Debt Facility are as follows: Main terms of the Debt Facility Lender: SBAB Bank AB (publ) Borrower: Each Target Company and the Subsidiaries Amount: SEK 505,000,000 LTV ~70% Maturity: 5 years Interest rate: ~2.04%* Amortization: 0% annually Covenants: Loan to value (LTV) ratio may not exceed 70% of the market value of each property in respect of the acquisition tranches, and may not exceed 75% of the market value of each property in respect of the refinancing tranches Undertakings: Customary representations and warranties, as well as general undertakings, including negative covenants regarding restrictions incurring additional financial indebtedness, providing security and carry out material changes to its business Ownership clause: If the Company ceases to own (directly or indirectly) 100% of the capital or voting rights in any of the real property owing subsidiaries or should any entity other than the Company or one of the parent companies acquire or otherwise gain control (directly or indirectly) over the capital or voting rights in a real property owing subsidiary Security package: Security package customary for real estate property financings, including mortgages over the Properties and a pledge over the shares of the Targets and the Subsidiaries. There are existing mortgage deeds corresponding to approximately SEK 363,555,000 on the Properties Initial fee: One-time arrangement fee of 0.15% of the loan amount (being SEK 757,500) *Average interest rate on the debt currently drawn Source: The Company The Company has to entered into a loan agreement with SBAB Bank AB (publ) based on the commercial terms set out above. In relation to the loans financing the acquisitions of the property Landskrona Rom 1 and part of the property Kävlinge Sandhammaren 1, the interest rate will not be fixed until an unconditional and irrevocable draw down request has been delivered to SBAB Bank AB (publ). As the draw down requests will be delivered in connection to the relevant Closing dates, the financial model is subject to risk of interest rate fluctuation. Further, the delivery of such draw down requests and the su...

Related to Description of debt financing

  • Description of Deliverables The Contractor shall Perform as set forth in Exhibit A.

  • PLAN OF DISTRIBUTION Except as set forth below, the undersigned Selling Securityholder intends to distribute the Registrable Securities listed above in Item (3) only as follows (if at all): Such Registrable Securities may be sold from time to time directly by the undersigned Selling Securityholder or, alternatively, through underwriters, broker-dealers or agents. Such Registrable Securities may be sold in one or more transactions at fixed prices, at prevailing market prices at the time of sale, at varying prices determined at the time of sale, or at negotiated prices. Such sales may be effected in transactions (which may involve crosses or block transactions) (i) on any national securities exchange or quotation service on which the Registered Securities may be listed or quoted at the time of sale, (ii) in the over-the-counter market, (iii) in transactions otherwise than on such exchanges or services or in the over-the-counter market, or (iv) through the writing of options. In connection with sales of the Registrable Securities or otherwise, the Selling Securityholder may enter into hedging transactions with broker-dealers, which may in turn engage in short sales of the Registrable Securities in the course of hedging the positions they assume. The Selling Securityholder may also sell Registrable Securities short and deliver Registrable Securities to close out such short positions, or loan or pledge Registrable Securities to broker-dealers that in turn may sell such securities. State any exceptions here: By signing below, the Selling Securityholder acknowledges that it understands its obligation to comply, and agrees that it will comply, with the provisions of the Exchange Act and the rules and regulations thereunder, particularly Regulation M. In the event that the Selling Securityholder transfers all or any portion of the Registrable Securities listed in Item (3) above after the date on which such information is provided to the Company, the Selling Securityholder agrees to notify the transferee(s) at the time of the transfer of its rights and obligations under this Notice and Questionnaire and the Exchange and Registration Rights Agreement. By signing below, the Selling Securityholder consents to the disclosure of the information contained herein in its answers to Items (1) through (6) above and the inclusion of such information in the Shelf Registration Statement and related Prospectus. The Selling Securityholder understands that such information will be relied upon by the Company in connection with the preparation of the Shelf Registration Statement and related Prospectus. In accordance with the Selling Securityholder's obligation under Section 3(d) of the Exchange and Registration Rights Agreement to provide such information as may be required by law for inclusion in the Shelf Registration Statement, the Selling Securityholder agrees to promptly notify the Company of any inaccuracies or changes in the information provided herein which may occur subsequent to the date hereof at any time while the Shelf Registration Statement remains in effect. All notices hereunder and pursuant to the Exchange and Registration Rights Agreement shall be made in writing, by hand-delivery, first-class mail, or air courier guaranteeing overnight delivery as follows:

  • Documentation of Disclosures Business Associate agrees to document uses and disclosures of PHI and information related to such uses and disclosures as required for Covered Entity to respond to a request by an individual for an accounting of disclosures of PHI in accordance with 45 C.F.R. § 164.528.

  • Description of Data Instructions to the drafter; delete after completion of this section: This section of this attachment should provide sufficient information such that each party understands the information that will be transmitted under this Agreement. Examples of information that should be provided include: * Whether the data is obtained from human subjects and, if so, a description of the population included in the data. * If the data is from animal subjects, the species of animal the data was obtained using. * If not from human or animal subjects, a description of the focus of the data. * The number of subjects and/or experiments included * Name of the study that the data was obtained under If there is a particular study that needs to be acknowledged/cited as the source of the data, this information should be included here.

  • Offering Circular The Xxxxxxx Mac STACR® Debt Notes, Series 2015-HQ2 Offering Circular dated June 2, 2015 (including any related Supplement thereto).

  • Description of Projects Services

  • DESCRIPTION OF PROJECT The project for which PSP agrees to provide Professional Services is generally described as [Insert Brief Description of Project] (hereinafter referred to as the “Project”), as further described in Exhibit A, PSP’s Proposal dated [Insert Date and Proposal Number if provided], attached hereto and incorporated herein for all purposes and consisting of [Text] (Insert Number) pages.

  • Introductory Provisions 1.1.On December 3, 2019, the Contracting Parties entered into the Standard License Agreement which defines the conditions of cooperation and rights and duties of the Contracting Parties while providing defined Licensed Materials (hereinafter referred to as the “Agreement”). Agreement was published in the Register of Contracts on December 3, 2019 with the ID of contract 10182200. 10.1 of the Agreement. Amendment does not change the original Agreement in any other way than by adjusting the aforementioned date. The Prices and other terms and conditions remain unchanged.

  • Introductory Caterpillar Financial Funding Corporation, a Nevada corporation (the "Depositor"), proposes to cause Caterpillar Financial Asset Trust 2007-A (the "Issuing Entity") to issue $19,798,000 aggregate principal amount of Class B 6.18% Asset Backed Notes (the "Class B Notes") and to sell the Class B Notes to Mxxxxxx Lynch, Pierce, Fxxxxx & Sxxxx Incorporated (the "Underwriter"). The assets of the Issuing Entity will include, among other things, a pool of fixed-rate retail installment sale contracts and finance leases (the "Receivables") secured by new and used machinery manufactured primarily by Caterpillar Inc. ("Caterpillar"), including rights to receive certain payments with respect to such Receivables, and security interests in the machinery financed by the Receivables (the "Financed Equipment"), and the proceeds thereof. The Receivables will be transferred to the Issuing Entity by the Depositor. The Receivables will be serviced for the Issuing Entity by Caterpillar Financial Services Corporation, a Delaware corporation (the "Servicer" or "CFSC"). The Notes will be issued pursuant to the Indenture to be dated as of September 1, 2007 (as amended and supplemented from time to time, the "Indenture"), between the Issuing Entity and U.S. Bank National Association, a national banking association (the "Indenture Trustee"). Simultaneously with the issuance and sale of the Class B Notes as contemplated herein, the Issuing Entity will issue $150,000,000 aggregate principal amount of Class A-1 5.67225% Asset Backed Notes (the "Class A-1 Notes"), $75,000,000 aggregate principal amount of Class A-2a 5.40% Asset Backed Notes (the "Class A-2a Notes"), $126,000,000 aggregate principal amount of Class A-2b Floating Rate Asset Backed Notes (the "Class A-2b Notes," and together with the Class A-2a Notes, the “Class A-2 Notes”), $134,050,000 aggregate principal amount of Class A-3a 5.34% Asset Backed Notes (the "Class A-3a Notes") and $155,000,000 aggregate principal amount of Class A-3b Floating Rate Asset Backed Notes (the "Class A-3b Notes," and together with the Class A-3a Notes, the “Class A-3 Notes," together with the Class A-1 Notes and the Class A-2 Notes, the "Class A Notes," and together with the Class B Notes, the "Notes") and Asset Backed Certificates (the "Certificates") each such certificate representing a fractional undivided interest in the Issuing Entity. The Class A Notes will be sold pursuant to an underwriting agreement (the "Class A Note Underwriting Agreement," together with this Agreement, the "Underwriting Agreements") among the Depositor and the underwriters named in Schedule I thereto. Capitalized terms used and not otherwise defined herein shall have the meanings ascribed to them in the Sale and Servicing Agreement to be dated as of September 1, 2007 (as amended and supplemented from time to time, the "Sale and Servicing Agreement"), among the Issuing Entity, the Depositor and the Servicer or, if not defined therein, in the Indenture or the Trust Agreement to be dated as of September 27, 2007 (as amended and supplemented from time to time, the "Trust Agreement"), between the Depositor and The Bank of New York (Delaware), a Delaware banking corporation, and an affiliate of The Bank of New York, a New York banking corporation, as owner trustee under the Trust Agreement (the "Owner Trustee").

  • Financing (a) Subject to the terms and conditions of this Agreement, each of Parent and Merger Sub shall use its reasonable best efforts to (i) cause the Lender to fund the Debt Financing on the terms and conditions described in the Facility Agreement at or prior to the Effective Time, (ii) maintain in effect the Financing Commitments until the Transactions are consummated, (iii) satisfy on a timely basis all conditions precedent to funding of the Debt Financing applicable to Parent and Merger Sub in the Facility Agreement that are within its control, (iv) enforce its rights under the Rollover Agreement, Additional Rollover Agreements, the Equity Commitment Letter and the Facility Agreement to the extent necessary to fund the Merger Consideration, and (v) cause the Sponsor to fund the Equity Financing at or prior to the Effective Time; provided, that (i) Parent and Merger Sub may amend or modify the Financing Commitments and/or elect to replace all or any portion thereof; or (ii) in the event that any portion of the Debt Financing becomes unavailable other than due to the material breach of representations and warranties or covenants of the Company or a failure of a condition to be satisfied by the Company after providing notice to the Company and a reasonable opportunity to cure, Parent shall notify the Company and use its reasonable best efforts to arrange alternative financing (the “Alternative Financing”) from alternative sources in an amount sufficient, when added to the portion of the Financing that is available, for Merger Sub and the Surviving Corporation to pay (i) the Exchange Fund, and (ii) any other amounts required to be paid in connection with the consummation of the Transactions upon the terms and conditions contemplated hereby. Parent shall deliver to the Company as soon as practicable after such execution, a true and complete copy of the definitive agreement pursuant to which the Alternative Financing is committed to be provided (the “Alternative Facility Agreement”) as soon as practicable after execution thereof. To the extent applicable and subject to the terms and conditions of this Agreement, Parent and Merger Sub shall use their respective reasonable best efforts to obtain the Alternative Financing on the terms and conditions described in the Alternative Facility Agreement (including any “market flex” provision). Each of Parent and Merger Sub shall use its reasonable best efforts to (i) maintain in effect the Alternative Facility Agreement, (ii) satisfy on a timely basis all conditions in the Alternative Financing Agreement within its control, and (iii) enforce its rights under the Alternative Facility Agreement to the extent necessary to fund the Merger Consideration. Parent shall keep the Company reasonably informed on a reasonably current basis of the status of Parent’s efforts to arrange any Alternative Financing.

Time is Money Join Law Insider Premium to draft better contracts faster.