ECA Cover definition

ECA Cover means the export credit guarantee cover issued by the respective ECA in respect of the Facility. “Effective Date” shall mean the date on which the last of the Borrower and the Lender shall have signed this Loan Agreement. “Encumbrance” shall mean any mortgage, charge (whether fixed or floating), pledge, lien, hypothecation, or any other assignment by way of security, trust, agreement or arrangement for the purpose of providing security or other security interest or encumbrance of any kind in any jurisdiction. “Environment” shall mean
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ECA Cover means the export credit guarantee cover issued by the respective ECA in respect of the Facility.
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Examples of ECA Cover in a sentence

  • Any representation, warranty or statement made or deemed to be made by a Transaction Obligor in the Finance Documents or any other document delivered by or on behalf of a Transaction Obligor under or in connection with any Finance Document or the ECA Cover Document (other than any representation in Clause 18.31 (Italian compliance representations)) is or proves to have been incorrect or misleading in any material respect when made or deemed to be made.

  • Where a sum is to be paid to the Agent under the Finance Documents or the ECA Cover Document for another Party, the Agent is not obliged to pay that sum to that other Party (or to enter into or perform any related exchange contract) until it has been able to establish to its satisfaction that it has actually received that sum.

  • The Lenders shall not be under any obligation to lend any Loan to the Borrower unless the full amount of the relevant portion of the ECA Premium has been paid in accordance with this Agreement and the ECA Cover Document.

  • Each Party acknowledges that the Export Credit Agency will be immediately and automatically subrogated to the rights of the Agent and of the Lenders under all Finance Documents (including with respect to the guarantee and indemnity under Clause 17 (Guarantee and Indemnity) to the extent of any payment made by or on behalf of the Export Credit Agency under the ECA Cover Document in accordance with the ECA Cover Document).

  • Without prejudice to Clause 28.1 (Assignments and transfers by the Lenders) and Clause 27.1 (Subrogation), the Transaction Obligors shall reimburse the Export Credit Agency for, and keep the Export Credit Agency indemnified from and against, each and every amount paid (whether by direct payment or set-off) by the Export Credit Agency to the Finance Parties or any person on any of their behalf under the ECA Cover Document within five (5) Business Days of demand from the Export Credit Agency.

  • Other than the ECA Cover Documents, each Security Document creates (or, once entered into, will create) in favour of the Finance Parties the Security which it is expressed to create over the secured assets referred to therein with first ranking and priority which are not subject to any prior or pari passu Security.

  • The claims of the Lender under the Facility are covered by the ECA Cover issued by the EKN.

  • An original of the executed ECA Cover Document in a form satisfactory to the Lender, which executed ECA Cover Document can be delivered by the ECA after receipt of each of the following documents as signed by the Borrower (i) the pledge agreement between the Borrower and the ECA relating to the Export Credit Facility Agreement and (ii) the recourse agreement relating to the ECA Cover Document.

  • Lender under the Facility are covered by the ECA Cover issued by the EKN.