Debt Purchase Transactions definition

Debt Purchase Transactions. Permitted by the Investors (by auction or otherwise) and by the Group (by solicitation or open order process in accordance with LMA standard terms (Option 2)) except that debt under the Facility that is bought back by the Group must be funded from Acceptable Funding Sources and will be extinguished and by an Investor will be subject to the next paragraph. Debt under the Facility bought by an Investor will: (a) be limited to no more than 20% of all commitments under the Facility and (b) subject to the next paragraph, be disregarded from the numerator and denominator for voting on the terms of the LMA Precedent Agreement (other than in relation to decisions which are materially detrimental to the rights and/or interests of the Investor in its capacity as a Lender (in comparison to the other Lenders)) and will have no information rights and no access to Lender meetings or conference calls, other than in relation to matters in which that Investor is entitled to vote as described in the previous sentence. Any debt under the Facility purchased by a debt fund which is an affiliate of an Investor but which is separately managed from that Investor and where an Information Barrier is in place between that Investor and that debt fund, shall not be subject to any of the conditions and restrictions set out in the previous paragraph and shall be treated in the same way as any other Lender under the Finance Documents. FATCA The Company to gross-up for FATCA if there is any change of business of the Group such that there is US sourced income. However, the Finance Parties are to bear the risk of FATCA if withholding applies between the Finance Parties.
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Examples of Debt Purchase Transactions in a sentence

  • Subject to this Clause 24 and to Clause 25 (Debt Purchase Transactions), a Lender (the “Existing Lender”) may transfer by novation any of its rights and obligations under the Finance Documents to any Eligible Lender (the “New Lender”).

  • Subject to this Clause 26 and to Clause 27 (Debt Purchase Transactions), a Lender (the Existing Lender) may only enter into a Transfer with another bank, financial institution, trust, fund or other entity which is regularly engaged in or established for the purpose of making, purchasing or investing in loans, securities or other financial assets (the New Lender).

  • The provisions set out in this Clause 6 (Intra Group Lenders and Intra Group Liabilities) shall be subject to the provisions of clause 30.1(f) and (g) (Permitted Debt Purchase Transactions) of the Senior Facilities Agreement.

  • We refer to paragraph (i) of Clause 25 (Debt Purchase Transactions) of the Facilities Agreement.

  • Any person may accede to this Agreement as a Senior Lender pursuant to Clause 19.11 (Creditor Accession Undertaking), other than in respect of any “Debt Purchase Transaction” permitted by clause 30 (Restriction on Debt Purchase Transactions) of (and as defined in) the Senior Facilities Agreement entered into by a “Sponsor Affiliate” or a “Borrower” under such Senior Finance Document.

  • We refer to paragraph (b) of clause 27.2 ( Debt Purchase Transactions by Sponsor Affiliates) of the Facilities Agreement.

  • We refer to paragraph (b) of Clause [ ] (Disenfranchisement on Debt Purchase Transactions entered into by Sponsor Affiliates) of the Facilities Agreement.

  • Subject to this Clause 25 and to Clause 26 (Debt Purchase Transactions), a Lender (the “Existing Lender”) may only enter into a Transfer under any Finance Document with another bank or financial institution or to a trust, fund or other entity which is regularly engaged in or established for the purpose of making, purchasing or investing in syndicated loans (the “New Lender”).

  • Unless the Agent otherwise agrees and excluding an assignment or transfer (i) to an Affiliate of a Lender, (ii) to a Related Fund or (iii) made in connection with primary syndication of the Facilities or pursuant to Clause 30 (Debt Purchase Transactions), the New Lender shall, on the date upon which an assignment or transfer takes effect, pay to the Agent (for its own account) a fee of EUR 3,000.

  • We refer to paragraph (c) of Clause 31.2 (Disenfranchisement on Debt Purchase Transactions entered into by Sponsor Affiliates) of the Facilities Agreement.