Existing Facility Agent definition
Examples of Existing Facility Agent in a sentence
Each of the undersigned, to the extent it is an Existing Facility Agent under one or more of the Existing Credit Facilities, in its capacity as such Existing Facility Agent under each such Existing Credit Facility, acknowledges the funding provisions set forth in Section 2.2(b) and agrees that it shall comply with the notice received by it in the form of Exhibit C.
That payment shall be made in like funds as the Facility Agent received from the Lenders in respect of the Advance to the account of a Borrower, the Corporate Guarantor or of the relevant Existing Facility Agent under the relevant Existing Facility Agreement which the Borrowers specify in the relevant Utilisation Request.
The undersigned, to the extent it is the Existing Facility Agent under the Existing Credit Facility, in its capacity as the Existing Facility Agent under the Existing Credit Facility, acknowledges the funding provisions set forth in Section 2.02(b) and agrees that it shall comply with the notice received by it in the form of Exhibit C.
As of the date hereof, the Existing Facility Agent is the Representative of the Existing Lenders under the Existing Credit Agreement and the New Facility Agent is the Representative of the New Lenders under the New Credit Agreement.
The payment by the Facility Agent under Clause 5.6 (Payment to third parties) to the Builder, or as the case may be, the Existing Facility Agent shall constitute the making of the relevant Advance and the Borrowers shall at that time become indebted, as principal and direct obligors, to each Lender in an amount equal to that Lender’s participation in that Advance.