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"/contracts/aLkV37LOzms#refinancing", "label": "Participation Agreement (Federal Express Corp)", "score": 18.0, "published": true}], "snippet": "(a) Subject to the terms and conditions of this Section 15.01, the Lessee may request the Owner Participant to participate in up to three refinancings (including the refinancing contemplated by this Agreement on the Refunding Date), in whole but not in part, of the Certificates prior to the end of the Basic Term (a \"Refinancing\"), provided, that, except in connection with the Refinancing contemplated by this Agreement on the Refunding Date, such Refinancing may not occur prior to the fifth anniversary of the Refunding Date. Such Refinancings may be placed in either the private or public markets and shall be denominated in United States dollars (or in any other foreign currency so long as there is no foreign currency risk to the Owner Participant), and shall be on terms that do not materially adversely affect the Owner Participant. The Owner Participant agrees to negotiate promptly in good faith to conclude an agreement with the Lessee as to the terms of any such Refinancing transaction (including the terms of any debt to be issued in connection with such refinancing and the documentation to be executed in connection therewith). Without the prior written consent of the Owner Participant, the prospectus and other offering materials relating to any Refinancing in the form of a public offering shall not identify the Owner Participant and shall not include any financial statements of the Owner Participant or any Affiliate thereof. In connection with any such Refinancing in the form of a public offering, the Lessee shall indemnify the Owner Participant for any liabilities under federal, state or foreign securities laws resulting from such offering. The aggregate principal amount of the new Certificates issued in connection with each Refinancing shall be the same as the aggregate principal amount outstanding on the Certificates being refinanced.\n(b) Notwithstanding anything herein to the contrary, no Refinancing will be permitted unless the Owner Participant shall have received at least 10 Business Days' prior written notice of the closing date of such Refinancing, the Owner Participant shall have been provided such longer period required for a reasonable opportunity to review the relevant documentation and the Owner Participant shall have determined in good faith that neither it nor the Owner Trustee shall suffer any loss or expense or bear any increased risk as a result of such Refinancing (including, without limitation, any risk with respect to taxes or other adverse consequences to the Owner Participant including the application of Revenue Procedures 75-21 and 75-28 and Section 467 of the Code) for which it has not been or will not have been indemnified by the Lessee in a manner reasonably satisfactory to the Owner Participant. Prior to the consummation of any Refinancing pursuant to this Section 15.01, the Owner Participant and the Lessee shall agree upon a schedule setting forth each installment of Interim Rent, Basic Rent, Stipulated Loss Values, Termination Values and EBO Price payable pursuant to the Lease as a result of the Refinancing in accordance with Section 3.04 of the Lease, and thereafter the amounts set forth in such schedule shall become the amounts payable under the Lease. Upon the consummation of the Refinancing, the evidence of indebtedness issued pursuant to the Refinancing shall be considered \"Certificates\" for purposes of this Agreement, the Lease and the Indenture.\n(c) Notwithstanding the foregoing, the Owner Participant shall have no obligation to proceed with any Refinancing transaction as contemplated by this Section 15.01 unless the Lessee indemnifies the Owner Trustee and the Owner Participant by agreement in form and substance satisfactory to each of them, for any liability, obligation (other than the obligation to pay principal and interest in respect of the refinanced indebtedness), cost or expense (including, without limitation, reasonable attorneys' fees and Make-Whole Premium and any other premiums or amounts due under the Indenture), including any adverse tax consequences or impact, related to or arising out of any such Refinancing transaction, except to the extent of amounts included in Transaction Costs and payable by the Owner Participant as provided in Article 10 hereof.\n(d) Each party agrees to take or cause to be taken all requested action, including, without limitation, the execution and delivery of any documents and instruments, including, without limitation, amendments or supplements to the Lease, which may be reasonably necessary or desirable to effect such Refinancing, including, in the case of the Owner Participant, direction to the Owner Trustee by the Owner Participant to prepay the Certificates then outstanding; provided, however, that such Refinancing shall be subject to the satisfaction of each of the following conditions:", "hash": "c2bafc46b86ffaa70af9f50f3529a780", "id": 8}, {"size": 54, "snippet_links": [{"key": "swing-line-lender", "type": "definition", "offset": [8, 25]}, {"key": "at-any-time", "type": "clause", "offset": [26, 37]}, {"key": "sole-and-absolute-discretion", "type": "definition", "offset": [45, 73]}, {"key": "on-behalf-of", "type": "definition", "offset": [87, 99]}, {"key": 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"definition", "offset": [1861, 1878]}, {"key": "the-relevant", "type": "clause", "offset": [1910, 1922]}, {"key": "payment-to-the", "type": "clause", "offset": [1967, 1981]}, {"key": "pursuant-to-section", "type": "definition", "offset": [2044, 2063]}, {"key": "deemed-payment", "type": "clause", "offset": [2084, 2098]}, {"key": "in-respect-of", "type": "definition", "offset": [2099, 2112]}, {"key": "make-available", "type": "definition", "offset": [2172, 2186]}, {"key": "amount-required", "type": "clause", "offset": [2260, 2275]}, {"key": "provisions-of-this-section", "type": "clause", "offset": [2338, 2364]}, {"key": "on-demand", "type": "clause", "offset": [2539, 2548]}, {"key": "with-interest", "type": "definition", "offset": [2562, 2575]}, {"key": "period-from", "type": "definition", "offset": [2592, 2603]}, {"key": "per-annum", "type": "clause", "offset": [2732, 2741]}, {"key": "the-federal-funds-rate", "type": "definition", "offset": [2751, 2773]}, {"key": "from-time-to-time", "type": "clause", "offset": [2774, 2791]}, {"key": "in-effect", "type": "clause", "offset": [2792, 2801]}, {"key": "certificate-of", "type": "definition", "offset": [2805, 2819]}, {"key": "with-respect-to", "type": "clause", "offset": [2911, 2926]}, {"key": "amounts-owing", "type": "clause", "offset": [2931, 2944]}, {"key": "this-clause", "type": "clause", "offset": [2951, 2962]}, {"key": "manifest-error", "type": "definition", "offset": [2996, 3010]}, {"key": "obligation-to", "type": "clause", "offset": [3041, 3054]}, {"key": "risk-participations-in-swing-line-loans", "type": "clause", "offset": [3100, 3139]}, {"key": "absolute-and-unconditional", "type": "clause", "offset": [3182, 3208]}, {"key": "affected-by", "type": "definition", "offset": [3226, 3237]}, {"key": "lender-may", "type": "definition", "offset": [3352, 3362]}, {"key": "any-other-person", "type": "definition", "offset": [3415, 3431]}, {"key": "default-or-event-of-default", "type": "definition", "offset": [3498, 3525]}, {"key": "compliance-with-the-conditions", "type": "clause", "offset": [3535, 3565]}, {"key": "similar-to", "type": "definition", "offset": [3657, 3667]}, {"key": "obligation-of-the-borrower", "type": "clause", "offset": [3779, 3805]}, {"key": "to-repay", "type": "clause", "offset": [3806, 3814]}], "samples": [{"hash": "eHGG02s434J", "uri": "/contracts/eHGG02s434J#refinancing", "label": "Credit Agreement (Omega Healthcare Investors Inc)", "score": 27.0889797211, "published": true}, {"hash": "24F3da8DARu", "uri": "/contracts/24F3da8DARu#refinancing", "label": "Credit Agreement (Omega Healthcare Investors Inc)", "score": 26.2511978149, "published": true}, {"hash": "hqX2DgETypS", "uri": "/contracts/hqX2DgETypS#refinancing", "label": "Credit Agreement (Omega Healthcare Investors Inc)", "score": 25.4982891083, "published": true}], "snippet": "(i) The Swing Line Lender at any time in its sole and absolute discretion may request, on behalf of the Borrower (which hereby irrevocably authorizes the Swing Line Lender to so request on its behalf), that each Revolving Lender make a Revolving Loan that is a Base Rate Loan in an amount equal to such Revolving Lender\u2019s Revolving Commitment Percentage of Swing Line Loans then outstanding. Such request shall be made in writing (which written request shall be deemed to be a Loan Notice for purposes hereof) and in accordance with the requirements of Section 2.02, without regard to the minimum and multiples specified therein for the principal amount of Base Rate Loans, the unutilized portion of the Revolving Commitments or the conditions set forth in Section 4.02. The Swing Line Lender shall furnish the Borrower with a copy of the applicable Loan Notice promptly after delivering such notice to the Administrative Agent. Each Revolving Lender shall make an amount equal to its Revolving Commitment Percentage of the amount specified in such Loan Notice available to the Administrative Agent in immediately available funds for the account of the Swing Line Lender at the Administrative Agent\u2019s Office not later than 2:00 p.m. on the day specified in such Loan Notice, whereupon, subject to Section 2.04(b)(ii), each Revolving Lender that so makes funds available shall be deemed to have made a Revolving Loan that is a Base Rate Loan to the Borrower in such amount. The Administrative Agent shall remit the funds so received to the Swing Line Lender.\n(ii) If for any reason any Swing Line Loan cannot be refinanced by such a Borrowing of Revolving Loans in accordance with Section 2.04(b)(i), the request for Revolving Loans submitted by the Swing Line Lender as set forth herein shall be deemed to be a request by the Swing Line Lender that each of the Revolving Lenders fund its risk participation in the relevant Swing Line Loan and each Revolving Lender\u2019s payment to the Administrative Agent for the account of the Swing Line Lender pursuant to Section 2.04(b)(i) shall be deemed payment in respect of such participation.\n(iii) If any Revolving Lender fails to make available to the Administrative Agent for the account of the Swing Line Lender any amount required to be paid by such Revolving Lender pursuant to the foregoing provisions of this Section 2.04(b) by the time specified in Section 2.04(b)(i), the Swing Line Lender shall be entitled to recover from such Revolving Lender (acting through the Administrative Agent), on demand, such amount with interest thereon for the period from the date such payment is required to the date on which such payment is immediately available to the Swing Line Lender at a rate per annum equal to the Federal Funds Rate from time to time in effect. A certificate of the Swing Line Lender submitted to any Revolving Lender (through the Administrative Agent) with respect to any amounts owing under this clause (iii) shall be conclusive absent manifest error.\n(iv) Each Revolving Lender\u2019s obligation to make Revolving Loans or to purchase and fund risk participations in Swing Line Loans pursuant to this Section 2.04(b) shall be absolute and unconditional and shall not be affected by any circumstance, including (A) any set-off, counterclaim, recoupment, defense or other right that such Revolving Lender may have against the Swing Line Lender, the Borrower or any other Person for any reason whatsoever, (B) the occurrence or continuance of a Default or Event of Default, (C) non-compliance with the conditions set forth in Section 4.02, or (D) any other occurrence, event or condition, whether or not similar to any of the foregoing. No such purchase or funding of risk participations shall relieve or otherwise impair the obligation of the Borrower to repay Swing Line Loans, together with interest as provided herein.", "hash": "5fd0be9c3f40f3a9f43c334a51f78fec", "id": 3}, {"size": 29, "snippet_links": [{"key": "no-lease-event-of-default", "type": "clause", "offset": [11, 36]}, {"key": "lessee-shall", "type": "clause", "offset": [73, 85]}, {"key": "the-right", "type": "clause", "offset": [91, 100]}, {"key": "sole-discretion", "type": "clause", "offset": [140, 155]}, {"key": "at-any-time", "type": "clause", "offset": [157, 168]}, {"key": "following-the", "type": "definition", "offset": [169, 182]}, {"key": "fifth-anniversary", "type": "definition", "offset": [183, 200]}, {"key": "the-closing-date", "type": "clause", "offset": [204, 220]}, {"key": "to-request", "type": "clause", "offset": [222, 232]}, {"key": "the-owner-participant", "type": "definition", "offset": [233, 254]}, {"key": "optional-prepayment", "type": 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"offset": [6393, 6405]}, {"key": "transactions-contemplated", "type": "clause", "offset": [6420, 6445]}, {"key": "reasonable-fees", "type": "definition", "offset": [6482, 6497]}, {"key": "expenses-of", "type": "clause", "offset": [6506, 6517]}, {"key": "the-parties-hereto", "type": "clause", "offset": [6555, 6573]}, {"key": "expenses-and", "type": "clause", "offset": [6687, 6699]}, {"key": "financial-advisors", "type": "definition", "offset": [6727, 6745]}, {"key": "the-pass-through-trustee", "type": "clause", "offset": [6818, 6842]}, {"key": "notice-of-the", "type": "clause", "offset": [6905, 6918]}, {"key": "trustee-shall", "type": "definition", "offset": [7024, 7037]}, {"key": "opinions-of-counsel", "type": "definition", "offset": [7061, 7080]}, {"key": "reasonably-request", "type": "definition", "offset": [7093, 7111]}, {"key": "compliance-with-the-securities-act-of-1933", "type": "clause", "offset": [7123, 7165]}, {"key": "other-applicable-law", "type": "clause", "offset": [7187, 7207]}, {"key": "relating-to", "type": "definition", "offset": [7208, 7219]}, {"key": "sale-of-securities", "type": "definition", "offset": [7224, 7242]}, {"key": "other-opinions", "type": "clause", "offset": [7257, 7271]}, {"key": "certificates-and-other-documents", "type": "clause", "offset": [7292, 7324]}, {"key": "the-terms-and-conditions-of-this", "type": "clause", "offset": [7452, 7484]}, {"key": "participant-a", "type": "definition", "offset": [7535, 7548]}, {"key": "tax-opinion", "type": "clause", "offset": [7562, 7573]}, {"key": "adverse-tax-consequences", "type": "clause", "offset": [7615, 7639]}, {"key": "the-refinancing", "type": "clause", "offset": [7655, 7670]}, {"key": "requirement-of-law", "type": "clause", "offset": [7720, 7738]}, {"key": "necessary-authorizations", "type": "clause", "offset": [7748, 7772]}, {"key": "approvals-and-consents", "type": "clause", "offset": [7774, 7796]}, {"key": "full-force-and-effect", "type": "definition", "offset": [7838, 7859]}, {"key": "the-participants", "type": "definition", "offset": [7898, 7914]}, {"key": "the-owner-trustee-and-the-indenture-trustee", "type": "clause", "offset": [7916, 7959]}, {"key": "costs-and-expenses", "type": "definition", "offset": [7972, 7990]}, {"key": "reasonable-attorneys", "type": "definition", "offset": [8002, 8022]}, {"key": "payable-to", "type": "definition", "offset": [8145, 8155]}, {"key": "pro-rata-basis", "type": "definition", "offset": [8184, 8198]}, {"key": "the-product", "type": "definition", "offset": [8267, 8278]}, {"key": "cost-of", "type": "definition", "offset": [8361, 8368]}, {"key": "the-units", "type": "clause", "offset": [8369, 8378]}, {"key": "date-of", "type": "clause", "offset": [8386, 8393]}], "samples": [{"hash": "bXX4Lx9XB75", "uri": "/contracts/bXX4Lx9XB75#refinancing", "label": "Participation Agreement (Trinity Industries Inc)", "score": 23.1368923187, "published": true}, {"hash": "3xSIdsjBgtK", "uri": "/contracts/3xSIdsjBgtK#refinancing", "label": "Participation Agreement (Trinity Industries Inc)", "score": 23.1368923187, "published": true}, {"hash": "uCeJN5ysKz", "uri": "/contracts/uCeJN5ysKz#refinancing", "label": "Participation Agreement (Trinity Industries Inc)", "score": 18.0, "published": true}], "snippet": "So long as no Lease Event of Default has occurred and is continuing, the Lessee shall have the right, on no more than two occasions, in its sole discretion, at any time following the fifth anniversary of the Closing Date, to request the Owner Participant and the Trust to effect an optional prepayment of all, but not less than all, of the Equipment Notes pursuant to Section 2.10(d) of the Indenture as part of a refunding or refinancing operation, provided that the Lessee shall obtain the prior written consent of the Owner Participant to be granted in the sole discretion of the Owner Participant acting in good faith if such refinancing imposes any increased risk or liability on or otherwise adversely affects the Owner Participant; provided further, that the Owner Participant shall not withhold such consent if in its sole judgment (i) any increased risk or liability is both remote and not material, (ii) the Lessee and Trinity are at the time at least as creditworthy as on the Closing Date and (iii) the Lessee provides an indemnity, in form and substance satisfactory to the Owner Participant, for such increased risk or liability, which indemnity is guaranteed by Trinity pursuant to a Guaranty substantially in the form of Section 11 of this Agreement. As soon as practicable after receipt of such request, the Owner Participant and the Lessee shall cooperate in good faith to effectuate such refinancing or refunding and shall enter into an agreement, in form and substance satisfactory to the parties thereto, as to the terms of such refunding or refinancing as follows:\n(a) the Lessee, the Owner Participant, the Indenture Trustee, the Owner Trustee, and any other appropriate parties will enter into a financing or loan agreement (which may involve an underwriting agreement in connection with a public offering or a securities purchase agreement in connection with a Rule 144A offering), in form and substance reasonably satisfactory to the parties thereto, providing for (i) the issuance and sale by the Trust or such other party as may be appropriate on the date specified in such agreement (for the purposes of this Section 10.2, the \"Refunding Date\") of debt securities in an aggregate principal amount (in the lawful currency of the United States) equal to the principal amount of the Equipment Notes outstanding on the Refunding Date, having the same maturity date as said Equipment Notes and having a weighted average life which is not less than or greater than (in either case, by more than six months) the Remaining Weighted Average Life of said Equipment Notes, (ii) the application of the proceeds of the sale of such debt securities to the prepayment of all such Equipment Notes on the Refunding Date, and (iii) payment by Lessee to the Person or Persons entitled thereto of all other amounts, in respect of accrued interest, any Make Whole Amount or other premium, if any, payable on such Refunding Date;\n(b) the Lessee and the Trust will amend the Lease in a manner such that (i) if the Refunding Date is not a Rent Payment Date and the accrued and unpaid interest on the Equipment Notes is not otherwise paid pursuant to Section 10.2(a), the Lessee shall on the Refunding Date prepay that portion of the next succeeding installment of Basic Rent as shall equal the aggregate interest accrued on the Equipment Notes outstanding to the Refunding Date, (ii) Basic Rent payable in respect of the period from and after the Refunding Date shall be recalculated to preserve the Net Economic Return which the Owner Participant would have realized had such refunding not occurred, provided that the net present value of Basic Rent shall be minimized to the extent consistent therewith, and (iii) amounts payable in respect of Stipulated Loss Value, Stipulated Loss Amount, Early Purchase Price, Termination Value and Termination Amount from and after the Refunding Date shall be appropriately recalculated to preserve the Net Economic Return which the Owner Participant would have realized had such refunding not occurred (it being agreed that any recalculations pursuant to subclauses (ii) and (iii) of this clause (b) shall be performed in accordance with the requirements of Section 2.6 hereof);\n(c) the Trust will enter into an agreement to provide for the securing thereunder of the debt securities issued by the Trust pursuant to clause (a) of this Section 10.2 in like manner as the Equipment Notes and/or will enter into such amendments and supplements to the Indenture as may be necessary to effect such refunding or refinancing; provided that, no such agreement or amendment shall provide for any increase in the security for the new debt securities; and provided further that, notwithstanding the foregoing (but subject to the provisions of clauses (a) and (b) and the lead in paragraph of this Section 10.2 above), the Lessee reserves the right to set the economic terms and other terms not customarily negotiated between an owner participant and a lender of the refunding or refinancing transaction to be so offered except to the extent adversely affecting cash flow, coverage ratios and reserve accounts, to the extent that they are passed through to the Lessee in, or define rights or obligations of the Lessee under, the Operative Agreements;\n(i) in the case of a refunding or refinancing involving a public offering of debt securities, neither the Trust nor the Owner Participant shall be an \"issuer\" for securities law purposes or an \"obligor\" within the meaning of the Trust Indenture Act of 1939, as amended, the offering materials (including any registration statement) for the refunding or refinancing transaction shall be reasonably satisfactory to the Owner Participant and (ii) the Lessee shall provide satisfactory indemnity to the Owner Trustee and Owner Participant with respect to the refunding or refinancing;\n(e) unless otherwise agreed by each of the Owner Participant and the Policy Provider, the Lessee shall pay to the Trust as Supplemental Rent an amount, on an After-Tax Basis, equal to any Make-Whole Amount, Late Payment Premium, if any, payable in respect of Equipment Notes outstanding on the Refunding Date pursuant to the Indenture, all interest which is accrued and unpaid in respect of late payments of Basic Rent or any part thereof, all Policy Provider Amounts due and owing to the Policy Provider on the Refunding Date (after giving effect to the transactions contemplated to occur on the Refunding Date) all reasonable fees, costs, expenses of such refunding or refinancing and of the parties hereto incurred in connection with such refunding or refinancing (including all reasonable out-of-pocket legal fees and expenses and the reasonable fees of any financial advisors);\n(f) the Lessee shall give the Indenture Trustee, the Policy Provider, the Pass Through Trustee and the Owner Participant not less than 25 days prior written notice of the Refunding Date;\n(g) the Owner Participant, the Owner Trustee, the Pass Through Trustee and the Indenture Trustee shall have received (i) such opinions of counsel as they may reasonably request concerning compliance with the Securities Act of 1933, as amended, and any other applicable law relating to the sale of securities and (ii) such other opinions of counsel and such certificates and other documents, each in form and substance reasonably satisfactory to them, as they may reasonably request in connection with compliance with the terms and conditions of this Section 10.2 (including with respect to the Owner Participant a satisfactory tax opinion to the effect that there are no material adverse tax consequences as a result of the refinancing); and\n(h) such refinancing shall not violate any requirement of law, and all necessary authorizations, approvals and consents shall have been obtained and shall be in full force and effect. The Lessee shall pay to or reimburse the Participants, the Owner Trustee and the Indenture Trustee for (A) all costs and expenses (including reasonable attorneys' and accountants' fees) paid or incurred by them in connection with such refunding or refinancing and (B) a refunding fee payable to each Owner Participant on a pro rata basis upon the occurrence of the second refunding or refinancing equal to the product of $1,000 multiplied by a fraction, the numerator of which is the total Equipment Cost of the Units on the date of such refinancing and the denominator of which is $1,000,000.", "hash": "62fcf242fca24f72e5089abecbb909cf", "id": 6}, {"size": 33, "snippet_links": [{"key": "the-refinancing", "type": "clause", "offset": [0, 15]}, {"key": "simultaneously-with-the", "type": "clause", "offset": [66, 89]}, {"key": "initial-funding", "type": "definition", "offset": [90, 105]}, {"key": "the-initial-term-loans", "type": "clause", "offset": [109, 131]}, {"key": "pursuant-to-this-agreement", "type": "clause", "offset": [132, 158]}], "samples": [{"hash": "cvLCRYrvSO8", "uri": "/contracts/cvLCRYrvSO8#refinancing", "label": "Credit Agreement (McGraw Hill, Inc.)", "score": 36.6878852844, "published": true}, {"hash": "pO0juIDysT", "uri": "/contracts/pO0juIDysT#refinancing", "label": "Credit Agreement (McGraw Hill, Inc.)", "score": 36.4852828979, "published": true}, {"hash": "fBMF2TDwVTr", "uri": "/contracts/fBMF2TDwVTr#refinancing", "label": "Credit Agreement (McGraw Hill, Inc.)", "score": 36.4852828979, "published": true}], "snippet": "The Refinancing shall have occurred, or shall occur substantially simultaneously with the initial funding of the Initial Term Loans pursuant to this Agreement.", "hash": "b1959312d96cf2e8be7c7320eb922a96", "id": 5}, {"size": 49, "snippet_links": [{"key": "a-non", "type": "clause", "offset": [0, 5]}, {"key": "recourse-loan", "type": "clause", "offset": [6, 19]}, {"key": "to-the-lessor", "type": "clause", "offset": [20, 33]}, {"key": "pursuant-to-section", "type": "definition", "offset": [43, 62]}, {"key": "the-participation-agreement", "type": "clause", "offset": [72, 99]}], "samples": [{"hash": "lNN4yB9nS6B", "uri": "/contracts/lNN4yB9nS6B#refinancing", "label": "Lease Agreement (Federal Express Corp)", "score": 18.0, "published": true}, {"hash": "lICEVrRvemB", "uri": "/contracts/lICEVrRvemB#refinancing", "label": "Trust Indenture and Security Agreement (Federal Express Corp)", "score": 18.0, "published": true}, {"hash": "lCS9OKQG5Mz", "uri": "/contracts/lCS9OKQG5Mz#refinancing", "label": "Trust Agreement (Federal Express Corp)", "score": 18.0, "published": true}], "snippet": "A non-recourse loan to the Lessor arranged pursuant to Section 15.01 of the Participation Agreement.", "hash": "cf56986a656fb59a5d72fda81edb8c21", "id": 4}, {"size": 55, "snippet_links": [{"key": "the-funding", "type": "clause", "offset": [34, 45]}, {"key": "the-initial-term-loans", "type": "clause", "offset": [49, 71]}, {"key": "closing-date-refinancing", "type": "definition", "offset": [77, 101]}], "samples": [{"hash": "isy0Ah7uDCD", "uri": "/contracts/isy0Ah7uDCD#refinancing", "label": "Credit Agreement (Gardner Denver Holdings, Inc.)", "score": 30.4976043701, "published": true}, {"hash": "aPXcC71eBlX", "uri": "/contracts/aPXcC71eBlX#refinancing", "label": "Joinder and Amendment Agreement (National Vision Holdings, Inc.)", "score": 29.7693367004, "published": true}, {"hash": "kK4r2ZhCHqf", "uri": "/contracts/kK4r2ZhCHqf#refinancing", "label": "First Lien Credit Agreement (BrightView Holdings, Inc.)", "score": 29.4079399109, "published": true}], "snippet": "Substantially simultaneously with the funding of the Initial Term Loans, the Closing Date Refinancing shall be consummated.", "hash": "11fe7e4b38172c7ec4452cdc1f7fb37f", "id": 2}, {"size": 17, "snippet_links": [{"key": "the-refinancing", "type": "clause", "offset": [0, 15]}, {"key": "initial-borrowing", "type": "definition", "offset": [70, 87]}], "samples": [{"hash": "l4kJ8WdEFYy", "uri": "/contracts/l4kJ8WdEFYy#refinancing", "label": "Credit Agreement (Nexstar Media Group, Inc.)", "score": 36.4934959412, "published": true}, {"hash": "dfQaNZFpzbs", "uri": "/contracts/dfQaNZFpzbs#refinancing", "label": "Credit Agreement (Nexstar Media Group, Inc.)", "score": 34.598903656, "published": true}, {"hash": "8qRmYxdmNsS", "uri": "/contracts/8qRmYxdmNsS#refinancing", "label": "Credit Agreement (Nexstar Media Group, Inc.)", "score": 33.5913772583, "published": true}], "snippet": "The Refinancing shall have occurred substantially concurrent with the initial borrowing hereunder.", "hash": "e72c9fdec4a52aa7ce0ffa0e16159dd7", "id": 10}], "next_curs": "ClQSTmoVc35sYXdpbnNpZGVyY29udHJhY3RzcjALEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IhRyZWZpbmFuY2luZyMwMDAwMDAwYQyiAQJlbhgAIAA=", "clause": {"size": 1854, "title": "Refinancing", "parents": [["conditions-precedent", "Conditions Precedent"], ["conditions", "Conditions"], ["closing-date", "Closing Date"], ["miscellaneous", "Miscellaneous"], ["conditions-precedent-to-initial-borrowing", "Conditions Precedent to Initial Borrowing"]], "children": [["", ""], ["notice-of-refinancing", "Notice of Refinancing"], ["right-of-refinancing", "Right of Refinancing"], ["refinancing-limitations-requirements-and-conditions", "Refinancing Limitations, Requirements and Conditions"], ["litigation", "Litigation"]], "id": "refinancing", "related": [["refinancing-facilities", "Refinancing Facilities", "<strong>Refinancing</strong> Facilities"], ["refinancing-debt", "Refinancing Debt", "<strong>Refinancing</strong> Debt"], ["other-financing", "Other Financing", "Other Financing"], ["refinancing-term-loans", "Refinancing Term Loans", "<strong>Refinancing</strong> Term Loans"], ["refinancings", "Refinancings", "<strong>Refinancings</strong>"]], "related_snippets": [], "updated": "2026-04-10T04:42:41+00:00", "also_ask": ["What key protections should be included to prevent adverse refinancing terms?", "How can the clause be structured to maximize borrower flexibility while protecting lender interests?", "What are the most common negotiation points and leverage tactics for each party?", "How do courts typically interpret ambiguous refinancing provisions in disputes?", "How does this clause compare to market-standard refinancing terms in similar agreements?"], "drafting_tip": "Specify permitted refinancing terms to prevent disputes, define lender approval requirements to ensure control, and clarify borrower obligations to maintain compliance.", "explanation": "The Refinancing clause defines the terms and conditions under which a borrower may replace an existing loan with a new one, typically to secure better interest rates or modify repayment terms. This clause outlines the process for obtaining lender consent, any fees or penalties involved, and the requirements for the new financing arrangement. Its core practical function is to provide a clear framework for restructuring debt, thereby offering flexibility to the borrower while protecting the lender\u2019s interests."}, "json": true, "cursor": ""}}