Examples of PXF Facility in a sentence
Under the terms of the PXF Facility no “Obligor” (as defined therein) (which includes Borrower) may “incur or allow to remain outstanding any Financial Indebtedness” other than “Permitted Financial Indebtedness” (as defined therein).
Accordingly, notwithstanding anything in this Agreement to the contrary, Borrower, in order to avoid a potential breach of the terms of the PXF Facility, may, from time to time, prepay interest in an equivalent amount of common stock shares of Erin Energy Corporation, in which case the share price shall be equal to the closing price per share of the Common Stock on the NYSE American determined as of the Effective Date of this Agreement.
In an effort to avoid a potential breach of the terms of the PXF Facility, Borrower desires to prepay interest in an equivalent amount of common stock shares of Erin Energy Corporation such that the outstanding principal and interest hereunder shall not exceed the Maximum Loan Amount at any time during the term hereof.
As at the date of these financial statements Gazprombank facilities were repaid in full out of proceeds of the third Eurobond placement in February 2018.During 2017 the Group made principal repayments in the total amounts of USD3,211 million and EUR79 million (USD104 million) under the Combined PXF Facility, credit facilities with Sberbank, Gazprombank, VTB Capital, Sovcombank and Credit Bank of Moscow.
The PXF Facility 2019 – as at 30 June 2021, the outstanding nominal value of debt was USD1,085 million and the final maturity date of the debt was 7 November 2024.
The PXF Facility – as at 30 June 2020, the outstanding nominal value of debt was USD1,085 billion and the final maturity date of the debt was 7 November 2024.
If the leverage ratio exceeds 4.0:1.0 the leverage ratio will increase to 5.0:1.0 with an additional calculation of the value of the Norilsk Nickel ADRs held by the Group within Net Debt (as defined in the 2014 PXF Facility).
Net Debt to twelve month consolidated EBITDA (in each case as defined in the 2014 PXF Facility) not exceeding 4.0:1.0 is to apply in respect of any measurement period ending within the Reset Period.
Zenith Bank may effect and the PXF Facility Agent may effect on behalf of a Second Lender, any amendment or waiver allowed under this Clause.
Financing by shareholders or affiliates to be permitted in unlimited amounts on unsecured basis and provided fully and unconditionally subordinated until restructured Notes and PXF Facility have been repaid in full (for the avoidance of doubt all financing provided by shareholders and affiliates shall be provided in accordance with this paragraph (f) and not under any of the preceding paragraphs).