Bonding Arrangement definition

Bonding Arrangement shall have the meaning set forth in the Existing First Lien Credit Agreement as it exists on the Closing Date.
Sample 1
Bonding Arrangement means (i) those certain bonds in existence on (and on the terms in existence on) the date hereof and more fully described on Schedule A attached hereto (it being agreed and understood that such bonds are and shall remain unsecured except for any security therefor approved by the Majority Lenders, including in connection with the bonding arrangements referred to in clause (ii) of this definition) and (ii) the arrangements for surety bonds, and cash collateral therefor, as set forth in that certain bond proposal prepared by Upstream Brokers and provided by the Loan Parties to Highbridge on August 15, 2014 (in such form, the “Upstream Brokers Bond Proposal”), subject in the case of this clause (ii) to (a) documentation in form and substance satisfactory to the Majority Lenders in their reasonable discretion and (b) a sinking fund payment schedule and collateral provisions in form and substance satisfactory to the Majority Lenders in their sole discretion (it being agreed and understood that (x) the sinking fund payment schedule included in the Upstream Brokers Bond Proposal is acceptable to the Majority Lenders and (y) modifications may be made to such sinking fund payment schedule provided that any material modifications shall be subject to the approval of the Majority Lenders in their sole discretion).
Sample 1
Bonding Arrangement means any and all contracts and agreements and all obligations arising thereunder relating to or governing the relationship, rights and respective obligations between Company or any Subsidiary and any Surety for the issuance and maintenance of any Bonds, including, but not limited to (i) the Bonds issued by such Surety and (ii) any agreement for indemnity whereby Company or any Subsidiary agrees to indemnify Surety related to the issuance of any Bond.
Sample 1

Examples of Bonding Arrangement in a sentence

  • Any claims, individually or in the aggregate at any one time, in excess of $5,000,000 made under any Bonding Arrangement.

  • No Loan Party shall enter into a Bonding Arrangement with any surety unless it is a Permitted Bonding Company.

  • Enter into any material amendment, waiver or modification of the Senior Secured Notes Documents, the Revolving Loan Documents, the Unsecured Notes Documents or any related agreements, or enter into a Bonding Arrangement with any surety other than a Permitted Bonding Company.

  • The Borrower hereby designates the New Performance Bonding Arrangement to be an “Secured Performance Bonding Arrangement” and hereby represents and warrants to the Administrative Agent and the Collateral Agent that the New Performance Bonding Arrangement satisfies all the requirements under the Loan Documents to be so designated.

  • As of the Second Amendment Effective Date, there are no Secured Hedging Agreements or Secured Performance Bonding Arrangements in effect and there are no obligations of any Loan Party outstanding under any Secured Hedging Agreement or any Secured Performance Bonding Arrangement.

  • The Counterparty represents and warrants to the Borrower, the Administrative Agent and the Collateral Agent that the New Performance Bonding Arrangement satisfies all of the requirements under NOTE: A request for confidential treatment has been made with respect to the portions of the following document that are marked with [*CONFIDENTIAL*].

  • The Company and each Subsidiary has taken all actions necessary or advisable to maintain and comply with its Bonding Arrangement with each Surety.

  • Section 7.05 of the Credit Agreement is hereby amended by inserting the words “the Secured Performance Bonding Arrangement, ” before the words “the Secured Hedging Agreement” appearing in clause (f) thereof.

Related to Bonding Arrangement

  • netting arrangement means an arrangement under which a number of claims or obligations can be converted into a single net claim, including close-out netting arrangements under which, on the occurrence of an enforcement event (however or wherever defined) the obligations of the parties are accelerated so as to become immediately due or are terminated, and in either case are converted into or replaced by a single net claim, including ‘close-out netting provisions’ as defined in point (n)(i) of Article 2(1) of Directive 2002/47/EC and ‘netting’ as defined in point (k) of Article 2 of Directive 98/26/EC;

  • Financing Arrangements means the arrangements between the Borrower and the State as per current policy of the Borrower, and acceptable to ADB;

  • Continuing Arrangements means those arrangements set forth on Schedule 1.1(24) and such other commercial arrangements among the Parties that are intended to survive and continue following the Separation Time; provided, however, that for the avoidance of doubt, Continuing Arrangements shall not be Third Party Agreements.

  • Arrangement Agreement means the arrangement agreement dated as of April 18, 2019 between the Purchaser and the Company, including the schedules and exhibits thereto, providing for, among other things, the Arrangement, as the same may be amended, supplemented or restated.

  • Hedging Arrangement means a hedge, call, swap, collar, floor, cap, option, forward sale or purchase or other contract or similar arrangement (including any obligations to purchase or sell any commodity or security at a future date for a specific price) which is entered into to reduce or eliminate or otherwise protect against the risk of fluctuations in prices or rates, including interest rates, foreign exchange rates, commodity prices and securities prices.

  • Tax Sharing Arrangement means any written or unwritten agreement or arrangement for the allocation or payment of Tax liabilities or payment for Tax benefits with respect to a consolidated, combined or unitary Tax Return which includes the Company.

  • Servicing Arrangement is defined in Section 11.06(b).

  • Management Arrangements means the arrangements for the strategic management of the relationship between the Authority and the Contractor, including arrangements for monitoring of the Contractor’s compliance with the Specification, the Service Levels, the Award Procedures and the terms of this Framework Agreement, set out in Schedule 4.

  • Hedging Arrangements means, with respect to any Person, any agreements or other arrangements (including interest rate swap agreements, interest rate cap agreements and forward sale agreements) entered into to protect that Person against changes in interest rates or the market value of assets.

  • Netting agreement means a netting agreement, master netting agreement or other similar document having the same effect as a netting agreement or master netting agreement and, as applicable, any collateral annex, security agreement or other similar document related to any master netting agreement or Permitted Contract.

  • Cash Management Arrangements means all cash management arrangements pursuant to which Honeywell or its Subsidiaries automatically or manually sweep cash from, or automatically or manually transfer cash to, accounts of SpinCo or any member of the SpinCo Group.

  • Credit Risk Management Agreement The respective agreements between the Credit Risk Manager and the Servicer and/or Master Servicer regarding the loss mitigation and advisory services to be provided by the Credit Risk Manager.

  • Cash Management Agreement means any agreement to provide cash management services, including treasury, depository, overdraft, credit or debit card, electronic funds transfer and other cash management arrangements.

  • Interconnection arrangements means arrangements governing the physical connection of two or more networks to allow the use of another's network to hand off traffic where it is ultimately delivered (e.g., connection of a customer of telephone provider A to a customer of telephone company B) or sharing data and other information resources. Reasonable inquiry means an inquiry designed to uncover any information in the entity's possession about the identity of the producer or provider of covered telecommunications equipment or services used by the entity that excludes the need to include an internal or third-party audit. Roaming means cellular communications services (e.g., voice, video, data) received from a visited network when unable to connect to the facilities of the home network either because signal coverage is too weak or because traffic is too high. Substantial or essential component means any component necessary for the proper function or performance of a piece of equipment, system, or service.

  • Cash Pooling Arrangements means a deposit account arrangement among a single depository institution, the Borrower and one or more Foreign Subsidiaries involving the pooling of cash deposits in and overdrafts in respect of one or more deposit accounts (each located outside of the United States and any States and territories thereof) with such institution by the Borrower and such Foreign Subsidiaries for cash management purposes.

  • Treasury Management Arrangement means any agreement or other arrangement governing the provision of treasury or cash management services, including deposit accounts, overdraft, credit or debit card, funds transfer, automated clearinghouse, zero balance accounts, returned check concentration, controlled disbursement, lockbox, account reconciliation and reporting and trade finance services and other cash management services.

  • Cap Contract Any of the Class A-1 Cap Contract, the Class A-2 Cap Contract or the Subordinate Certificates Cap Contract.

  • Specified Cash Management Agreement any agreement providing for treasury, depositary or cash management services, including in connection with any automated clearing house transfers of funds or any similar transactions between the Borrower or any Guarantor and any Lender or affiliate thereof or any Agent or affiliate thereof, which has been designated by such Lender and the Borrower, by notice to the Administrative Agent not later than 90 days after the execution and delivery by the Borrower or such Guarantor, as a “Specified Cash Management Agreement”.

  • Secured Cash Management Agreement means any Cash Management Agreement that is entered into by and between any Loan Party and any Cash Management Bank.

  • Credit Enhancement Agreement means the Agreement among the Sellers, the Master Servicer, the Trustee and the Credit Enhancement Provider with respect to the Credit Enhancement.