The Facilities Clause Samples
The "THE FACILITIES" clause defines the specific resources, equipment, or premises that are made available for use under the agreement. It typically outlines what facilities are included, any conditions or limitations on their use, and the responsibilities of each party regarding maintenance or access. For example, it may specify access to office space, laboratories, or manufacturing areas during certain hours. This clause ensures both parties have a clear understanding of what facilities are provided, reducing the risk of disputes over access or usage rights.
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The Facilities. Subject to the terms of this Agreement and to Clause 2.2 (Facilities Adjustment), the Lenders make available to the Borrower:
(a) a term loan facility in an aggregate amount equal to the Total Facility A Commitments; and
(b) a term loan facility in an aggregate amount equal to the Total Facility B Commitments.
The Facilities. The Facilities
The Facilities. 24 3 PURPOSE ..................................................................................................................................................................... 25 4
The Facilities. Subject to the terms of this Agreement, the Lenders make available to the Borrowers:
(a) (other than the Company) a euro term loan facility in an aggregate amount equal to the Total Facility A Commitments; and
(b) a multicurrency revolving credit facility in an aggregate amount equal to the Total Facility B Commitments, part of which may, from time to time and in an aggregate amount at any time up to the Total Ancillary Limit, be designated as Ancillary Facilities.
The Facilities. The Lenders grant upon the terms and subject to the conditions of this Agreement:
(a) to the Original Borrowers,
(i) a term loan facility in a maximum aggregate principal amount of £1,000,000,000 (the “A Facility”) which shall be available in Sterling in a single drawing; provided that the amount of the A Facility on the Roll Effective Date shall be reduced by the aggregate amount of the A1 Facility and the A2 Facility on such date as provided in Clause 2.3 (Roll Effective Date);
(ii) on and from the Roll Effective Date, a term loan facility in a maximum amount of the aggregate A1 Facility Commitments (“A1 Facility”) which shall be available in Sterling and shall be fully drawn on the Roll Effective Date by transfer of Outstandings from the A Facility as provided in Clause 2.3 (Roll Effective Date); and
(iii) on and from the Roll Effective Date, a term loan facility in a maximum amount of the aggregate A2 Facility Commitments (“A2 Facility”) which shall be available in Sterling and shall be fully drawn on the Roll Effective Date by transfer of Outstandings from the A Facility as provided in Clause 2.3 (Roll Effective Date);
(b) to the Company, VMIH Sub and/or UK Newco,
(i) the B Facility which shall be available in Sterling, Dollar or euro (as provided in the B Facility Accession Deed) provided that the B Facility shall be drawn in a single drawing and in a single currency, in an aggregate principal amount for the B Facility of not more than £750,000,000; provided further that the amount of the B Facility on the Roll Effective Date shall be reduced by the amount of the B1 Facility on such date as provided in Clause 2.3 (Roll Effective Date); and
(ii) on and from the Roll Effective Date, a term loan facility in a maximum amount of the aggregate B1 Facility Commitments (“B1 Facility”) which shall be in available in Sterling and shall be fully drawn on the Roll Effective Date by transfer of Outstandings from the B Facility as provided in Clause 2.3 (Roll Effective Date);and
(c) to the UK Borrowers, a revolving loan facility in a maximum aggregate principal amount of £250,000,000 (the “Revolving Facility”) which shall be available for drawing in euro, Dollars, Sterling or any Optional Currency subject to the utilisation in full of the A Facility.
The Facilities. Subject to the terms and conditions of this Agreement, Trade Bank will make available to Borrower each of those credit facilities ("Facilities") for which a Facility Supplement ("Supplement") is attached as Exhibit B hereto. Additional terms for each individual Facility (and each subfacility thereof ("Subfacility")) are set forth in the Supplement for that Facility. Each Facility will be available from the Closing Date until the Facility Termination Date for that Facility. Collateral and credit support required for each Facility are also set forth in the Supplement for each Facility. Definitions for those capitalized terms not otherwise defined are contained in Article 8 below.
The Facilities. 59 Section 2.1 The Commitments.............................................................59 Section 2.2 Borrowing Procedures........................................................60 Section 2.3 Swing Loans.................................................................63 Section 2.4 Letters of Credit...........................................................65 Section 2.5 Reduction and Termination of the Revolving Credit Commitments...............71 Section 2.6 Repayment of Loans..........................................................71 Section 2.7 Evidence of Debt............................................................72
The Facilities. 35 Section 2.1 The Commitments............................................................. 35 Section 2.2 Borrowing Procedures........................................................ 35
The Facilities. Subject to the terms of this Agreement, the Lenders make available to the Borrowers jointly Dollar term loan facilities in an aggregate amount equal to the Total Commitments.
The Facilities. (a) Subject to the terms of this Agreement, the Lenders make available:
(i) a US dollar term loan facility in an aggregate amount equal to the Total Term Facility Commitments; and
(ii) a US dollar revolving credit facility in an aggregate amount equal to the Total Revolving Facility Commitments.
(b) The Term Facility will be available only to the Company and the Revolving Facility will be available to the Company and any Additional Borrower.