Facility Availability Date definition
Examples of Facility Availability Date in a sentence
The Letters of Credit issued and outstanding under the Amended Credit Agreement and described on Annex I hereto (the “Existing Letters of Credit”) shall be deemed to be issued under the New Credit Agreement on the New Facility Availability Date and shall no longer constitute Letters of Credit under the Amended Credit Agreement (the “Existing LC Rollover”).
For purposes of determining compliance with the conditions specified in this Section 5, each Lender shall be deemed to have consented to, approved or accepted or to be satisfied with, each document or other matter required thereunder to be consented to or approved by or acceptable or satisfactory to a Lender unless the Administrative Agent shall have received written notice from such Lender prior to the proposed New Facility Availability Date specifying its objection thereto.
The Administrative Agent is hereby authorized and directed to declare the occurrence of the New Facility Availability Date when it has received documents confirming compliance with the conditions set forth in this Section 5 or the waiver of such conditions as agreed to by the Existing Required Lenders pursuant to Section 10.02(b) of the Existing Credit Agreement.
For the purposes of calculating Participation Fees payable by EnergySolutions pursuant to Section 2.5(d), the Administrative Agent shall distinguish in the Register between the initial Synthetic Deposits made on the Synthetic Facility Availability Date and the Synthetic A Deposits made on the Amendment Effective Date.
Unless sooner terminated as provided herein, the term of this Agreement shall be for Sixty (60) months from the Facility Availability Date (“Term”).
All Equipment Advances that are outstanding on the Facility Availability Date will be payable in thirty-six (36) equal monthly installments of principal, plus accrued interest, on the Payment Date for each month through the Equipment Maturity Date.
On the Total Facility Availability Date, the Aggregate Commitments shall be increased to $70,000,000.
For purposes of computing Revolving Commitment Fees, (i) a Revolving Commitment of a Lender shall be deemed to be used to the extent of the outstanding Revolving Loans and LC Exposure of such Lender (and the Swingline Exposure of such Lender shall be disregarded for such purpose) and (ii) until the earlier of (i) the date that is 45 days after Effective Date and (ii) the Revolving Facility Availability Date, no Revolving Commitment Fees shall accrue on the Revolving Commitments in excess of $800,000,000.
Starting on the Facility Availability Date, the Fund shall not permit the sum of (a) the aggregate uncalled capital commitments of its investors available to be called for general purposes plus (b) its Net Asset Value, to be less than $1,000,000,000.
The Effective Date shall constitute the Standby Facility Availability Date under the Facility Agreement as so amended and supplemented.