EGFL definition
Examples of EGFL in a sentence
Notwithstanding the foregoing, the Restricted Parent Guarantor’s and/or its Restricted Subsidiaries’ aggregate liability in respect of trade advances by EGFL and its Affiliates (other than the Restricted Parent Guarantor and its Restricted Subsidiaries) to the Restricted Parent Guarantor and/or its Restricted Subsidiaries shall not exceed $25.0 million in the aggregate at any one time outstanding.
Prior to the execution of the RSA, the Company shall prepare and deliver to EGFL a cash flow forecast from such date through November 15, 2014 (as such forecast may be modified from time to time with the consent of EGFL, a “Budget”), which Budget and any modifications thereto shall be in form and substance reasonably acceptable to EGFL, the Company and the Ad Hoc Committee.
The EGFL commitment shall, at a minimum, amount to $250 million (USD) (the “EGFL Minimum Total Commitment”) and, be subject to a maximum total commitment of $300 million (USD) (the “EGFL Maximum Total Commitment”), as described in the EGFL Commitment letter and subject to the Permitted Inventory Financing (as defined herein).
The Transaction outlined herein shall be conditioned on a successful refinancing through the incurrence of New Senior Secured Debt of the following existing obligations (outstanding principal amounts are approximate): • $344 million ABL facility • $25 million secured term loan • $400 million senior secured notes • $30 million transferred third party loan If EGFL causes one or more of its direct or indirect subsidiaries to contribute all or part of their equity interests in New Trinity Coal Inc.
Upon closing of the Transaction, EGFL shall receive the funds in the Commitment Escrow, such that any such Permitted Inventory Financing shall reduce the EGFL Commitment (including the EGFL Minimum Commitment and the EGFL Maximum Commitment, respectively) by the amount of such Permitted Inventory Financing, up to maximum Commitment reduction of $50 million; provided that such Permitted Inventory Financing shall not reduce the Pre-Closing Liquidity Commitment.
Algoma shall pay from time to time upon demand (but not more frequently than once per calendar month) by EGFL the reasonable and documented legal, financial, and other advisor fees and expenses incurred by EGFL in connection with the Commitment Letter or the Transaction from the proceeds of Commitment, which fees and expenses shall be provided for in the Budget.
This sub-component will finance, through the EGFL, loans to SMEs to implement selected EE and RE projects.
If any amount of the Investment is funded as a Permitted Shareholder Loan, then EGFL shall also be required to execute an intercreditor agreement that will require EGFL to (i) vote the Investment in favor of or support any transaction or plan supported by the Ad Hoc Committee and (ii) convert such Permitted Shareholder Loan into equity upon the closing of the Transaction.
Notwithstanding anything to the contrary herein, EGFL shall be obligated to fund $10 million of the Pre-Closing Liquidity Commitment to the extent requested by the Company to comply with the cash balance test in the foregoing sentence.
This sub-component will provide grants, through the Enterprise Growth Fund Limited (EGFL), to finance the required pre-investment studies and pilots for EE and RE projects to lower energy costs and improve competitiveness of SMEs: feasibility studies, detailed technical design and engineering, EE audits, environmental and social assessments, financial structuring and execution planning.