Loan PRI Policy definition

Loan PRI Policy means the political risk insurance policy issued by the Loan PRI Insurers insuring debt investments in the Borrower by the Tranche A Senior Lenders under the Commercial Bank Senior Loan Agreement or any Replacement Loan PRI Policy.
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Examples of Loan PRI Policy in a sentence

  • Each Tranche A Lender may assign, in whole or in part, its interest in the Tranche A Loans to the Loan PRI Insurer pursuant to the Loan PRI Policy (or any Replacement Loan PRI Policy) without any restrictions contained herein or otherwise.

  • In the event that the Loan PRI Insurer makes a payment pursuant to the Loan PRI Policy to any Tranche A Lender, the Borrower and the Tranche A Lenders shall recognize the Loan PRI Insurer’s full rights of subrogation to the Tranche A Lender to whom the claim payment was made, including to share pro rata with the other Tranche A Lenders in payments received and distributed according to the terms of this Agreement.

  • Subject to the terms and conditions of the Loan PRI Policy, the Tranche A Loans shall be covered by the Loan PRI Policy at all times.

  • The Administrative Agent agrees not to take any action under the Loan PRI Policy without the consent of the Tranche A Senior Lenders holding more than 50% of the aggregate amount of uncancelled and undrawn Tranche A Loan Commitments and outstanding Tranche A Loans.

  • The Loan PRI Policy, with a Current Amount Insured for Principal equal to or greater than the aggregate principal amount of the Tranche A Loans outstanding plus the amount of the Tranche A Loans requested in accordance with the terms of the Notice of Disbursement, shall continue to be in full force and effect and all fees, premiums and other amounts payable in respect thereof shall have been paid in accordance therewith.

  • As of any date the capital account maintained for each Member under Section 5G.

  • All information contained in the Loan PRI Policy Application provided by the Borrower in relation to the scope and nature of the Project (as such term is defined in the Loan PRI Policy) is true and correct in all material respects as of the date of this Agreement.

  • The Administrative Agent agrees to furnish promptly to each Tranche A Senior Lender a request for any information it reasonably requires for the purposes of fulfilling its duties under the Loan PRI Policy.

  • The Borrower shall have paid all premia and other fees of the Loan PRI Insurers and the Hedge PRI Insurers payable under the Loan PRI Policy or the Hedge PRI Policy, as applicable, on or before the Closing Date.