L&T Infra PLR definition
L&T Infra PLR means the prime lending rate or the benchmark rate of lending announced by L&T Infrastructure Finance Company Limited the from time to time; (xvii) “Material Adverse Effect” shall mean the effect or consequence of any event or series of events or circumstances, whether related or not, which is or is likely to be detrimental to, or adversely effect, or which has or is likely to have a material adverse effect on the business, Asset/assets, securities, financial condition, Project (if applicable) of the Borrower; which may or is likely to effect (i) the ability of the Borrower or any person to perform or comply with all or any of their respective obligations under this Agreement and/or the other Transaction Documents; (ii) or endanger the business, Assets/assets, security, financial condition, Project (if applicable) in any manner; (xviii) “Purpose” shall have the meaning specified in Schedule I hereto; (xix) “Promoters” shall mean New Silk Route PE-Mauritius LLC; (xx) “Receivables” shall mean all amounts owing to and received and/or receivable by the Borrower and/or any person on its behalf, all book debts, all cash flows and receivables and proceeds arising from / in connection with Project, all cash-in-hand, commissions, revenues, claims and actionable claims of whatsoever nature and howsoever and wherever arising due or owing to or become due or owing to or acquired by the Borrower and the full benefit of all rights and remedies relating thereto including but not limited to fees, deposits and all claims for damages and other remedies for non payment of the same; and all rights, title, interest, benefits, claims and demands whatsoever of the Borrower in, to or in respect of all the aforesaid assets, both present and future (the “Receivables”, which expression shall, as the context may permit or require, mean any or each of such Receivables); (xxi) “Repayment Date(s)” shall mean the date(s) specified in the Repayment Schedule for payment of Repayment Instalment(s); (xxii) “Repayment Instalment(s)” shall mean Instalment(s) of the Facility to the repaid on the Repayment Date(s) as specified in the Repayment Schedule;
L&T Infra PLR means the prime lending rate or the benchmark rate of lending announced by L&T Infrastructure Finance Company Limited from time to time; (xxvii) “Secured Obligations” shall mean the Borrower’s obligation to pay, repay or reimburse, as the case may be, the principal amounts of the Facility, Interest, Further Interest, Additional Interest, premium on prepayment, all costs, charges and expenses and other monies owing by, and all other present and future obligations and liabilities of the Borrower to the Lender under this Agreement, all costs, charges and expenses including but not limited to the costs, legal expenses and costs of preserving the securities and/or enforcement thereof, incurred by the Lender under the Facility Agreement/Transaction Documents executed by the Borrower; (xxviii) “Security” means the security interest created by the Borrower or any other person to secure all amounts owing by the Borrower to the Lender under this Agreement; (xxix) “Taxes” shall mean and include all present and future taxes, levies, imposts, duties or charges of a similar nature, including, without limitation, any corporation, capital gains, income, withholding taxes, gross receipts, franchise, transfer, sales, use, business, occupation, transaction, purchase, value added, excise, goods and services, real or personal property, stamp duty or other taxes whatsoever imposed by any Authority together with interest thereon and penalties in respect thereof and “Taxation” shall be construed accordingly; (xxx) “Transaction Documents” shall mean and include this Agreement, the
Examples of L&T Infra PLR in a sentence
Applicable Rates of interest: (i) Interest on the Facility: 13.00% p.a. (L&T Infra PLR – 1.50%) payable monthly.
The interest rates would be indexed to L&T Infra PLR at the time of first disbursement.
For each tranche of disbursement of the Facility, the interest rate would be indexed as above to the prevailing L&T Infra PLR and would remain fixed till the next Reset Date.