ECA Lender definition
Examples of ECA Lender in a sentence
Any prepayment under this Agreement shall be made together with accrued interest on the amount prepaid and, subject to any Break Costs and additional costs for the ECA Lender pursuant to Clause 13.3 (Break Costs) below, without premium or penalty.
For the ECA Facilities, the relevant Borrower and the relevant ECA Lender may only agree on Interest Period of three (3) months.
The failure of any ECA Lender to perform its obligations under this Agreement or any other Transaction Document shall not result in any of the other ECA Finance Parties assuming any additional obligation or liability whatsoever.
Upon a non-compliance of Clause 26.1 (Minimum Market Value), the Commercial Facility Loan Commitment shall be reduced and the ECA Lender Loans prepaid on the date falling 60 days after such breach by an amount equal to the amount which is required for the Borrower to become compliant with Clause 26.1 (Minimum Market Value) again.
No more than 5 Loans may be outstanding at any one time and no Loans distributed by the ECA Lender once repaid may be re-borrowed.
If any of the ECA Lender Loans is prepaid pursuant to the terms of this Agreement unless (x) due to illegality on behalf of the ECA Lender or (y) due to rating related prepayments claimed by the ECA Lender, the Borrower shall in addition to the Break Costs pay (if relevant) any loss related to the re-deployment of the funds prepaid.
Only one single utilisation may be made of the ECA Lender GIEK Facility Loan and/or the ECA Lender Commercial Facility Loan.
For the ECA Lender the Break Cost shall also include the Applicable Margin, but shall be limited to 1.00% per annum to be calculated on the prepaid amount from the date of such prepayment and to the expiry of the agreed fixed margin period.
Each of the Obligors waives any right to dispute or delay a subrogation of the rights under the Finance Documents to the ECA Lender Guarantors effectuated pursuant to the terms of this Agreement, and each of the Obligors undertakes to sign and execute any documents required by the ECA Lender Guarantors in connection with a subrogation as aforesaid, and/or enforcement of the Finance Documents.
The Borrower may request the Commercial Lenders Guarantee to be issued on its behalf to the ECA Lender by delivery to the Agent of a duly completed Utilisation Request not later than 10:00 hours (London time), three (3) Business Days prior to the proposed Utilisation Date.