Examples of Drop Down Date in a sentence
The obligation of each lender to make any Credit Extension on any Credit Date after the Drop Down Date is subject to the satisfaction (or waiver in accordance with Section 10.5) of the following conditions precedent.
On the Drop Down Date, the assets of the Borrower and the Subsidiaries (including rights under the MLP Intercompany Agreements and other agreements) will be sufficient to operate the Big Spring Refinery and otherwise conduct their business in the ordinary course of business in the manner consistent with the description thereof in the Registration Statement.
Schedule 4.23 sets forth, as of the Drop Down Date, a true and complete list of all property damage, machinery breakdown and business interruption insurance maintained by or on behalf of the GP, the Borrower and the Subsidiaries or any of their assets or operations.
On the Drop Down Date, this Agreement and the other Credit Documents became effective, the Tranche B Term Loans thereupon ceased to be outstanding under and governed by the Alon USA Energy Credit Agreement and the “Credit Documents” thereunder and instead became outstanding pursuant to the terms and conditions of, and governed by, this Agreement and the other Credit Documents, all as more fully provided in Section 11 of the Alon USA Energy Credit Agreement and Section 2.1(a).
Solely with respect to the General Retention, on the Retention Drop Down Date, to the extent the then-remaining General Retention set forth in Item 4 of the Declarations is greater than $[_], the General Retention shall be reduced to $[_]]11.