Facility E Sample Clauses
The 'Facility E' clause defines the terms and conditions specific to a particular credit facility, often labeled as 'E' to distinguish it from other facilities within a broader financing agreement. This clause typically outlines the amount available under Facility E, the purpose for which the funds can be used, the applicable interest rates, repayment schedule, and any unique covenants or requirements tied to this facility. For example, Facility E might be designated for capital expenditures, with its own drawdown procedures and repayment terms distinct from other facilities. The core function of this clause is to clearly delineate the rights and obligations of the parties regarding Facility E, ensuring that both lender and borrower understand the specific rules governing this portion of the overall financing arrangement.
Facility E. (1) The Australian Borrower must use the net proceeds of a Funding Portion provided to it under Facility E only to fund Permitted Capital Expenditure of Australian Group Members.
(2) The US Borrower must use the net proceeds of a Funding Portion provided to it under Facility E only to fund Permitted Capital Expenditure of US Group Members. No Senior Finance Party is bound to monitor or verify the application of any amount borrowed under this agreement.
Facility E to the Australian Borrower and, prior to the US Repayment Date, the US Borrower, a capital expenditure facility denominated in Australian Dollars in an aggregate amount equal to the Total Facility E Commitments (Facility E).
Facility E. The proceeds of advances made by the Lenders under Facility E shall be used by the Facility E Borrower to assist with the financing of future acquisitions and capital expenditures by the Facility E Borrower and its Subsidiaries.
Facility E. Advances outstanding under Facility E shall not at any time exceed a maximum principal amount of US$20,000,000.
Facility E. The Facility E Borrower may borrow, repay and reborrow under Facility E up to a maximum principal amount of US$20,000,000 or the equivalent Canadian Dollar Amount thereof.
Facility E. Section 6 of the Credit Agreement is hereby amended by:
(a) deleting Section 6.1 in its entirety and substituting in lieu thereof the following Section 6.1:
Facility E. The Facility E Borrower may increase or reduce the amount of Advances outstanding under Facility E by borrowing, repaying and reborrowing Alternate Base Rate Loans, Libor Loans, Prime Loans and USBR Loans or by causing the acceptance of Bankers' Acceptances and funding them at maturity.