LICENCE UNDERTAKING definition
LICENCE UNDERTAKING them to the Director General, the Director General of Gas Supply or the Secretary of State concerning the management and/or ownership of and/or other matters concerning the Licensee once the Target has become a Subsidiary of the Primary Borrower;
LICENCE UNDERTAKING means any undertaking or assurance given in connection with the Offer by any one or more of the Company, the Target or any Affiliate of any of them to the Director General or the Secretary of State concerning the management and/or ownership of and/or other matters concerning the Target once it has become a Subsidiary of the Company. "Loan" means a Facility A Loan, a Facility B Loan or a Facility C Loan. "Loan Note" means any loan note offered or issued by the Company to shareholders of the Target in connection with the Offer.
LICENCE UNDERTAKING means any and each undertaking or assurance given in connection with the Offer by any one or more of the Shareholders, the Company or the Target or any Affiliate of any of them to the Director General or the Secretary of State concerning the management and/or ownership of and/or other matters concerning the Target once it has become a subsidiary of the Company;
More Definitions of LICENCE UNDERTAKING
LICENCE UNDERTAKING means any and each undertaking or assurance by any one or more of the Parent, the Primary Borrower, ▇▇▇▇▇ 2, Bidco, the Target or The Energy Group Limited (company number 3613919) or any Affiliate of any of them to the Director General, the Director General of Gas Supply or the Secretary of State concerning the management and/or ownership of and/or other matters concerning any Licensee;
LICENCE UNDERTAKING means any and each undertaking or assurance by any one or more of the Parent, the Primary Borrower, Finco 2, Bidco, the Target or The Energy Group Limited (▇▇▇▇any number 3613919) or any Affiliate of any of them to the Director General, the Director General of Gas Supply or the Secretary of State concerning the management and/or ownership of and/or other matters concerning any Licensee;
LICENCE UNDERTAKING means any and each undertaking or assurance given to the Director General or the Secretary of State concerning the management and/or ownership of and/or other matters concerning the REC Group;
LICENCE UNDERTAKING means any undertaking or assurance given in connection with the Acquisition by any one or more of the Company, London Electricity or any Affiliate of any of them to the Director General or the Secretary of State concerning the management and/or ownership of and/or other matters concerning London Electricity. "Loan" means a Facility A Loan or a Facility C Loan. "London Electricity Group" means at any time London Electricity and its Subsidiaries at that time. "Majority Banks" means, at any time, Banks:- (a) whose participations in all Loans then outstanding aggregate more than 662/3 per cent. of all Loans then outstanding; or (b) if there are no Loans then outstanding, whose Commitments then aggregate more than 662/3 per cent. of the Total Commitments; or (c) if there are no Loans then outstanding and the Total Commitments have been reduced to zero, whose Commitments aggregated more than 662/3 per cent. of the Total Commitments immediately before the reduction. "Margin" means: (a) in respect of a Facility A Loan, 1.00 per cent per annum or, as the case may be, subject to Clause 9.1(b) (Interest rate) and with effect from each applicable Margin Adjustment Date, at any time when the Capitalisation Ratio is: (i) greater than 70 per cent., 1.00 per cent. per annum; (ii) equal to or less than 70 per cent., but greater than 65 per cent., 0.75 per cent. per annum; (iii) equal to or less than 65 per cent., but greater than 60 per cent., 0.60 per cent. per annum; (iv) equal to or less than 60 per cent., but greater than 55 per cent., 0.45 per cent. per annum; and (v) equal to or less than 55 per cent., 0.30 per cent. per annum; or (b) in respect of a Facility C Loan, 0.25 per cent. per annum. "Margin Adjustment Date" means, in respect of a Facility A Loan, the first day of the first Interest Period for that Facility A Loan commencing after each determination of the Capitalisation Ratio following delivery by the Company of a certificate under Clause 17.2(b)(i) or (ii) (Financial information). "Material Subsidiary" means: (a) London Electricity; (b) any member of the Group (other than the Company and any Project Finance Subsidiary): (i) which is the Licenceholder; or (ii) whose pre-tax operating profits represent at least ten per cent. of the consolidated pre-tax operating profits of the Group; or (iii) the book value of whose gross assets represents at least ten per cent. of the consolidated gross assets of the Group, and for this purpose: (A) in the case of a company...
LICENCE UNDERTAKING means any and each written undertaking or assurance given in connection with the Offer by any one or more of Services, PA or TEG or any Affiliate of any of them to the Director General or the Director General of Gas Supply or the Secretary of State concerning the management and/or ownership of and/or other matters concerning TEG or any other member of the TEG Group once it has become a Subsidiary of Services.