Bonding Facility definition

Bonding Facility means a facility or facilities made, or to be made, available for the issuance of Bonds by banks or financial institutions on behalf of members of the Group in an aggregate principal amount which does not exceed US$40,000,000 (or its equivalent in any other currency or currencies).

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Bonding Facility means a bonding faci▇▇▇▇ ▇▇ up to (pound)5,000,000 (or its equivalent in other currencies) in aggregate made available, or to be made available, to the Group by the Overdraft Bank on the terms of the Bonding Facility Agreement.

Bonding Facility means the bonding facility to be made available by the Bonding Lenders pursuant to Clause 2.1(a)(vi) (Facilities);

Examples of Bonding Facility in a sentence

Bidco will pay or procure payment of fees to Deutsche Bank AG when it acts as Issuing Lender in relation to the issue of Letters of Credit or Lender Guarantees under the Bonding Facility in the amounts and at the times agreed in the separate fee letter with Deutsche Bank AG relating to the Bonding Facility.
In this Agreement, terms defined in the Counter Indemnity (including by incorporation) and the principles of interpretation set out in the Bonding Facility Letter shall, unless otherwise provided herein, apply to this Agreement.
Each Borrower for whose account a Letter of Credit or Lender Guarantee is issued shall pay to each Revolving Lender or Bonding Lender (as the case may be) a commission at a rate equal to the applicable Margin (as adjusted from time to time in accordance with Clause 6.5 (Margin Adjustment)) for the Revolving Facility or the Bonding Facility (as the case may be) on that Lender’s Contingent Liability from day to day in relation to that Letter of Credit or Lender Guarantee.
The provisions of paragraph 18 (Governing Law and Jurisdiction) of the Bonding Facility Letter shall apply mutatis mutandis as if set out here in full.
For the avoidance of doubt but without prejudice to any applicable insolvency laws, the Issuing Bank may not discharge sums payable by the Company under paragraph 6 of the Bonding Facility Letter by way of set off against any part of the Account Balance of any Account.
The Receivables Bonding Facility shall automatically terminate at the close of business on the day immediately preceding the Termination Date.
Upon the maturity of all Deposits pursuant to Clause 2.2.1 and provided that the Issuing Bank is not under any obligation or liability (whether actual or contingent) to issue Bonds to or on behalf of the Company or any Eligible Subsidiary pursuant to the Bonding Facility Letter, the Issuing Bank shall, on the Company's request, release the Company from its obligations under the Bonding Documents.
For greater certainty, the Principal hereby acknowledges that EDC shall be under no obligation at any time to permit any use to be made of the Receivables Bonding Facility or the General Support Facility, notwithstanding that the conditions precedent to the provision of any such Support shall all have been satisfied, it being further acknowledged and agreed by the Principal that the provision of such Facilities is at the total and unfettered discretion of EDC.
The Issuing Lender shall promptly advise the Facility Agent (in the case of a Letter of Credit or Lender Guarantee under the Revolving Facility) or the Bonding Agent (in the case of a Letter of Credit or Lender Guarantee under the Bonding Facility) in writing of any such deemed face amount.
The provisions of paragraph 16 (Governing Law and Jurisdiction) of the Bonding Facility Letter shall apply mutatis mutandis as if set out here in full.

More Definitions of Bonding Facility

Bonding Facility means that bonding facility identified on Section 1.01(a) of the Disclosure Schedule, together with any additional bonds, amendments or modifications thereto or to any existing bonds to the extent entered into in accordance with Section 6.17.

Bonding Facility has the meaning given to it in the Security Agreement.

Bonding Facility means the bonding facility made available under Tranche A of this Agreement as described in clause 6 (Utilisation - Bonds) in a maximum amount of US$700,000,000.

Bonding Facility means the bonding facility made available under Tranche D of this Agreement as described in Clause 6 (Utilisation - Bonds) in a maximum amount of US$300,000,000.

Bonding Facility means the (pound)600,000 bonding facility provided by the Bank to the Borrower for the issue of duty/VAT deferment guarantees in favour of H.