Facility B Borrowers definition
Examples of Facility B Borrowers in a sentence
One or more Ancillary Facilities may from time to time be established in favour of one or more Facility B Borrowers and Facility C Borrowers, in each case, which are also a Guarantor, in accordance with this Clause 7 by designating all or part of the Facility B Commitment or Facility C Commitment of a Lender as an Ancillary Commitment.
Subject to the terms and conditions of this Agreement, the Lender hereby establishes a non- revolving credit facility for the Facility B Borrowers (“Facility B”) in the maximum principal amount equal to the Facility B Limit.
Ancillary Facilities of not more than EUR1 million (approximately HK$9.8 million) may be made available to each of the Facility B Borrowers respectively on a bilateral basis and on normal commercial terms by the Ancillary Lender to the Facility B Borrowers in place of part of the Ancillary Lender’s unutilised Facility B Commitment (which shall be reduced by the amount of the Ancillary Facility commitment).
Subject to majority Mandated Lead Arrangers’ consent, the Facility B Borrowers shall have the right to request other banks or financial institutions to participate in the increase if one or more of the Mandated Lead Arrangers have refused the request of the Facility B Borrowers to increase Facility B.
The Facility B Borrowers may, by giving the facility agent not less than 60 days prior written notice, request that Facility B be increased by a maximum of EUR30 million (approximately HK$294 million).
The purpose of Facility A is to refinance the outstanding indebtedness of Facility A Borrowers under the Bridge Loan Agreement, and the purposes of Facility B are to (i) refinance the outstanding indebtedness of the Facility B Borrowers under the Bridge Loan Agreement and for on-lending to PHG for repayment of its indebtedness under the Bridge Loan Agreement and (ii) for general corporate and working capital requirements of the Facility B Borrowers.