DSR Facility definition
Examples of DSR Facility in a sentence
An Issuing Bank may be replaced with respect to the Revolving Facility or the DSR Facility or both, at any time by written agreement among the Borrower, the Administrative Agent, the replaced Issuing Bank and the successor Issuing Bank.
From and after the effective date of any such replacement, (i) the successor Issuing Bank shall have all the rights and obligations of the replaced Issuing Bank under this Agreement with respect to the Revolving Facility or DSR Facility, as applicable, to be issued thereafter and (ii) references herein to the term “Issuing Bank” shall be deemed to refer to such successor or to any previous Issuing Bank, or to such successor and all previous Issuing Banks, as the context shall require.
If as a result of any partial reduction of the DSR Commitments, the aggregate DSR Facility Exposure of any Tranche would exceed the aggregate DSR Commitments of all DSR Lenders under such Tranche after giving effect thereto, then the Borrower shall, on the date of such reduction, repay or prepay the DSR L/C Loans and/or Cash Collateralize DSR Letters of Credit in an amount sufficient to eliminate such excess.
For certainty, the DSR Facility is intended hereunder to be a non-fronted letter of credit facility, such that the DSR Lender with respect to any DSR Letter of Credit is the same entity as, or an Affiliate of, the Issuing Bank that has issued such DSR Letter of Credit.
Tranche A Loan Amount: Determined in accordance with Section 3.14(a) Tranche B Loan Amount: $60,000,000 Revolving Amount: $10,000,000 TALC Facility Amount: $30,140,000 (prior to the commencement of the Delivery Period (as such term is defined in the Tolling Agreement))/$90,000,000(thereafter) DSR Facility Amount $48,000,000 Required Equity Contribution Amount Determined in accordance with the definition thereof.