ESG Amendment definition
Examples of ESG Amendment in a sentence
In the event that any such ESG Amendment does not obtain requisite consent of the Required Lenders, an alternative ESG Amendment may be effectuated with the consent of the Required Lenders, the Borrower, the Sustainability Coordinator, and the Administrative Agent.
Each of the Administrative Agent and the Lenders party hereto acknowledges and ratifies that prior to the date hereof, at the Borrower’s request pursuant to Section 11.23 of the Existing Credit Agreement, the Required Lenders consented to the extension of the period during which ESG Amendment may be entered into pursuant to such Section, to July 31, 2025, as evidenced by Section 11.23 of the Amended Credit Agreement.
Upon effectiveness of any such ESG Amendment, based on either the Borrower’s performance against the KPIs or its obtainment of the target ESG Ratings, certain adjustments to the Applicable Rate may be made; provided that (x) the amount of any such adjustments made pursuant to an ESG Amendment shall not result in an increase or decrease of more than 2.50 basis points in the Applicable Rate and (y) in no event shall the Applicable Rate be less than zero.