Local Facilities definition

Local Facilities means working capital facilities provided to a Grantor (other than Beverage Packaging Holdings (Luxembourg) I S.A., Beverage Packaging Holdings (Luxembourg) II S.A. Beverage Packaging Holdings (Luxembourg) III S.à.▇.▇. and the Borrowers) by a Local Facility Provider and “Local Facility” means any of them.

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Local Facilities means working capital facilities provided to a Grantor (other than Beverage Packaging Holdings (Luxembourg) I S.A., Beverage Packaging Holdings (Luxembourg) II S.A. Beverage Packaging Holdings (Luxembourg) III S.à r.l. and the Borrowers) by a Local Facility Provider and “Local Facility” means any of them.

Local Facilities means a loan facility, guarantee facility, overdraft or other credit arrangements made available on normal commercial terms to a member of the Group by a bank or other financial institution in the country in which that member of the Group is incorporated or operates, provided that no guarantee or other support in respect of financial loss is given in respect of that facility by any other member of the Group.

Examples of Local Facilities in a sentence

• Letters of Credit are to be issued to support payment obligations incurred in the ordinary course of business by the Borrowers and the Subsidiaries of Holdings (including payment obligations with respect to any local working capital facilities (other than the Local Facilities)).

• Paragraph 1(b)(xvii), Schedule 15 Local Facilities Greater of (i) £62 million and (ii) 30% of LTM EBITDA.

• Each New Local Facility shall be in a minimum Dollar Equivalent amount of $10,000,000, and the aggregate Dollar Equivalent amounts of the New Local Facilities shall not exceed $250,000,000 at any time.

• Payments in respect of Letters of Credit, Swingline Loans and Revolving Loans and extensions of credit under New Local Facilities shall be made as directed by the Administrative Agent in order to give effect to this paragraph (b).

• The principal amount of the Bonds and the amount of all Section 103(b) (6)(D) Capital Expenditures that have been paid or incurred with respect to the Local Facilities during the three years next preceding the date of issue of the Bonds other than out of the proceeds of the sale of the Bonds do not in the aggregate exceed the sum of $10,000,000.

More Definitions of Local Facilities

Local Facilities means local lines of credit or working capital facilities incurred by Restricted Subsidiaries organized in China that are not Loan Parties and that are not guaranteed by any Loan Party (or any other Subsidiary of Parent organized outside China) or secured by the assets of any Loan Party (or any other Subsidiary of Parent organized outside China).

Local Facilities means loans made available to any Foreign Subsidiary in the country in which such Foreign Subsidiary is incorporated or operates.

Local Facilities means facilities (A) located within the same corporate municipal area of the Project or located outside of such corporate municipal area but contiguous and integrated with the Project and (B) the principal user (within the meaning of Section 144(a)(2) of the Code) of which is or will be a Principal Project User.

Local Facilities means loans or credit made available to any Foreign Subsidiary of Lead Borrower (on normal commercial terms) by a bank or financial institution in the country in which such Foreign Subsidiary is incorporated or operates, provided no guaranty, indemnity or other support for financial loss is given in respect of such facility by any Loan Party (other than (i) by the Foreign Subsidiary to which the loans are, or credit is, made available, as the case may be, (ii) by way of a Letter of Credit issued under this Agreement and (iii) except to the extent otherwise permitted in this Agreement) or by any other Foreign Subsidiary.

Local Facilities means those correctional facilities which are under the jurisdiction of a Political Subdivision.

Local Facilities means any Local Authority Road and any other part of the Off-Site Facilities which (on completion of any Works in respect thereof) is to be operated and maintained by the Secretary of State, a local authority or other third party.

Local Facilities means any De-Trunked Segment and any part of the Off-Site Facilities (including without limitation any Local Authority Road) which is intended, on completion, to be handed over to the Secretary of State, a local authority or other third party for operation and maintenance.