First Utilisation definition

First Utilisation means, for the purpose of any Continuing Document, 28 July 2014.

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First Utilisation means the first Utilisation by the Borrower of the Facility under this Agreement.

First Utilisation means the first Utilisation of the Facility which shall be in an amount which is at least the amount required to refinance all loan amounts outstanding under facilities regulated by the MFA and shall be applied, inter alia, to refinance in full all such amounts.

Examples of First Utilisation in a sentence

• Save as described in Clause 19 (Security), as from the First Utilisation Date, no Security Interest exists over all or any of the present or future revenues or assets of such Obligor relating to assets being the subject of the Security Documents and all of the Obligors’ rights, title and interest are freely assignable and chargeable in the manner contemplated by the Security Documents.

• In order to enable the exchange of information the Storage Custom- er and astora shall inform each other of the required addresses, phone numbers and e-mail addresses at least five (5) Working Days prior to the First Utilisation Day of the Storage Services Agree- ment by means of the Notice of Responsibility.

• The obligations of the Finance Parties under this Agreement shall be conditional upon the Agent having confirmed to the Parent that it has received the documents listed in Part I of Schedule 3 (Conditions Precedent to First Utilisation) and that each is satisfactory, in form and substance, to the Agent acting reasonably.

• Such fee shall become due and payable on the First Utilisation Date.

• The Borrower shall repay each Eksportfinans Loan and each Commercial Facility Loan made to it by consecutive quarterly repayments as set out in Schedule 7 (Repayments and Reductions) and the first repayment shall occur 3 months from the First Utilisation Date.

• The Borrower shall repay the Loan made to it by consecutive quarterly repayments as set out in Schedule 5 (Repayments and Reductions) and the first repayment shall occur 3 months from the First Utilisation Date.

• In respect of all the Tranches relating to the last two Drillships, the first repayment of such Tranches shall be no later than three (3) months from the relevant Utilisation Date of such Tranches or earlier, so that the repayment in respect of such Tranches occur on the same date as the next repayment in respect of the Tranches utilised on the First Utilisation Date.

• The Borrower shall repay each Commercial Facility Loan made to it by consecutive quarterly repayments as set out in Schedule 5 (Repayments and Reductions) and the first repayment shall occur 3 months from the First Utilisation Date.

• The first repayment of the Tranche utilised on the First Utilisation Date shall occur three (3) months from the First Utilisation Date.

• The Lenders will only be obliged to comply with Clause 5.4 (Lenders’ participation-loans) (about loans) and Clause 6.4 (Issue of -the Commercial Lenders’ Guarantee) if on the date of the proposed First Utilisation Date the Agent has received originals or certified copies of all of the documents and other evidence listed in Schedule 3Part II (Conditions Precedent to the First Utilisation Date), in form and substance satisfactory to the Agent (acting on the instructions from the Required Lenders).

More Definitions of First Utilisation

First Utilisation means the first utilisation of the Senior Facility 2024 in the amount of EUR 230,000,000 which was advanced on the Closing Date 2024-1.

First Utilisation means the first Utilisation under this Agreement, being a Utilisation of the Athena Facilities, the Mylos Facilities or the Skyros Facilities (as the case may be).

First Utilisation means the date of the first Utilisation made by the Borrower under this Agreement.