Hermes Debt Deferral Extension Premium definition

Hermes Debt Deferral Extension Premium means the additional premium payable to Hermes as a result of the increase to the amount covered by the Hermes Insurance Policy arising as a consequence of the making of the Second Deferred Tranche, such amount as notified in writing by the Hermes Agent to the Borrower.

Examples of Hermes Debt Deferral Extension Premium in a sentence

It is further acknowledged and agreed that no advance of the Second Deferred Tranche shall be capable of being made available to the Borrower until the Hermes Debt Deferral Extension Premium has been paid.

It is further acknowledged and agreed that no advance of the Second Deferred Tranche shall be capable of being made available to the Borrower until the Hermes Debt Deferral Extension Premium has been paid.Section 11.13.3. Obligations of the Hermes Agent and the Lenders.

It is further acknowledged and agreed that no advance of the Deferred Tranche shall be capable of being made available to the Borrower until the Hermes Debt Deferral Extension Premium has been paid.

It is further acknowledged and agreed that no advance of the Second Deferred Tranche shall be capable of being made available to the Borrower until the Hermes Debt Deferral Extension Premium has been paid.SECTION 11.13.3. Obligations of the Hermes Agent and the Lenders.