Bridging Facility definition

Bridging Facility means the non-convertible bridging facility agreement entered into
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Bridging Facility means the (pound)1,000,000 bridging facility to be provided by the Overdraft Bank by means of an overdraft on the current accounts of the Parent and HLSL at the Overdraft Bank;
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Bridging Facility has the meaning given in clause 2.2.
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Examples of Bridging Facility in a sentence

  • The Overdraft Bank may with the prior written consent of all the Banks terminate the Bridging Facility at any time in accordance with Clause 13.3 of the New Facilities Agreement and make demand for repayment of all sums (including accrued interest) owing under the Bridging Facility.

  • All payments by the Borrowers under the Bridging Facility are to be made in immediately available funds free and clear of and without any withholding or deduction for any and all present or future taxes, duties, levies, fees or other charges and without any set-off or counter-claim whatsoever.

  • The Borrowers each undertake to perform, execute and deliver such documents as the Overdraft Bank may reasonably require to implement the purposes of and perfect the Bridging Facility, any security or any of the transactions contemplated by this Letter.

  • If any deduction or withholding is required in respect of any sum payable under the Bridging Facility, the Borrowers shall increase the sum so that the net amount received by the Overdraft Bank after the deduction or withholding (and after the payment of any tax or additional tax which is due as a consequence of the increase) shall be equal to the amount which the Overdraft Bank would have been entitled to receive in the absence of any requirement to make that deduction or withholding.

  • Interest shall accrue and be calculated in respect of the amount outstanding under the Bridging Facility on the basis of the number of days elapsed and a 365-day year, at a rate equal to the base rate of the Overdraft Bank from time to time plus 3.0 per cent.

  • Each of the Banks hereby agrees with the other Bank that NatWest in its capacity as Agent and as Overdraft Bank shall not and shall not be obliged to make any demand for repayment of the Facilities or the Overdraft Facilities or the Bridging Facility without having obtained the prior written authority of all of the Banks.

  • Any notice to the Overdraft Bank, under this Letter in relation to the Bridging Facility shall be made to the Overdraft Bank's branch at the address stated at the head of this Letter or such other address as may be notified by the Overdraft Bank from time to time.

  • The statement of the Overdraft Bank as to the rate or amount of interest payable pursuant to any provision of this Letter in respect of the Bridging Facility shall be conclusive in the absence of manifest error.

  • The Banks warrant and undertake to each of the Borrowers that apart from this Revolving Credit Facility, the Existing Ancillary Facilities, the Existing Facilities and the Bridging Facility are the only lending facilities which are made available to the Group by the Banks as at the date hereof.

  • The Borrowers shall utilise the Bridging Facility for the purposes of their general corporate purposes.


More Definitions of Bridging Facility

Bridging Facility means a bridging facility of (pound)1,000,000 being provided by NatWest pursuant to the terms of a letter addressed to the Borrowers of even date herewith.
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Bridging Facility means the Bridging Loan Facility of even date herewith between the Parent and the financial institutions named therein.
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Related to Bridging Facility

  • Existing Facility means a facility in existence on any given date, newly constructed or altered.

  • LNG facility means a terminal which is used for the liquefaction of natural gas or the importation, offloading, and re-gasification of LNG, and includes ancillary services and temporary storage necessary for the re-gasification process and subsequent delivery to the transmission system, but does not include any part of LNG terminals used for storage;

  • Refinancing Facility has the meaning specified in Section 2.16(a).

  • Facility means any real property (including all buildings, fixtures or other improvements located thereon) now, hereafter or heretofore owned, leased, operated or used by Holdings or any of its Subsidiaries or any of their respective predecessors or Affiliates.

  • Vending facility means automatic vending machines, cafeterias, snack bars, cart service, shelters, counters, and such other appropriate auxiliary equipment which may be operated by licensed managers and which is necessary for the sale of newspapers, periodicals, confections, tobacco products, foods, beverages, and other articles or services dispensed automatically or manually and prepared on or off the premises in accordance with all applicable health laws and including the vending or exchange of chances for any lottery authorized by State Law and conducted by an agency of a State within such State. [CFR 34, Part 395.1(X)]