Definition of FDP Direct Agreement


FDP Direct Agreement means, (a) as at the date of this Agreement, the standstill agreement in the form agreed between the Operator and the Secretary of State; and/or (b) any direct agreement or other intercreditor agreement in respect of this Agreement (and, if applicable, certain other Documents) that has been entered into between, amongst others, the Operator, the Secretary of State, relevant Financing Parties and (if relevant) the FDP Implementation Company from time to time which regulates priority as between the beneficiaries of any Security and to which the Operator and the Secretary of State are parties (together with the FDP Implementation Company if relevant any other relevant creditors) provided that if the FDP Implementation Company is not a party to such agreement, the Secretary of State has confirmed to the FDP Implementation Company that the FDP (taking into account the terms of such FDP Direct Agreement) makes prudent provision for the DTM Costs;
Sample 1

Examples of FDP Direct Agreement in a sentence

The Operator shall (or any other person may, voluntarily and in accordance with Clause 3 (Any person may make contributions)) make each Annual Contribution to the FDP Implementation Company on the Annual Contribution Date, unless an FDP Direct Agreement is in force and a Process Event or Security Trigger Event has occurred and is continuing, in which case it shall become payable in accordance with that FDP Direct Agreement.
Neither Party may Deal with the benefit of this Agreement or its performance under this Agreement, except (i) in accordance with any FDP Direct Agreement which is entered into; and (ii) that the Operator may, pursuant to the FDP Security Documents, assign or charge its rights under this Agreement by way of security (including to a Security Trustee where relevant).
CASH SWEEP PAYMENTS TO BE MADE ON CASH SWEEP PAYMENT DATE The Operator shall (or any other person may, voluntarily and in accordance with Clause 3 (Any person may make contributions)) make each Cash Sweep Payment on the Cash Sweep Payment Date, unless an FDP Direct Agreement is in force and a Process Event or Security Trigger Event has occurred and is continuing, in which case it shall become payable in accordance with that FDP Direct Agreement.