Rollover Facility definition

Rollover Facility. A senior unsecured rollover facility in an initial principal amount equal to 100% of the outstanding principal amount of the Bridge Loans on the Bridge Loan Maturity Date (the “Rollover Facility”). Loans under the Rollover Facility (the “Rollover Loans”) will be available in U.S. dollars. Subject to the conditions precedent set forth below, the Rollover Facility will be available to the Borrower to refinance the Bridge Loans on the Bridge Loan Maturity Date. The Rollover Facility will be governed by the definitive documents for the Bridge Facility and, except as set forth below, shall have the same terms as the Bridge Facility (including with respect to Optional Prepayments).

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Rollover Facility means the credit facility evidenced by the Rollover Loans.

Rollover Facility. Senior unsecured, rollover loans (the “Rollover Loans”) in an initial principal amount equal to 100% of the outstanding principal amount of the Bridge Loans on the Rollover Date. Subject to the conditions precedent set forth below, the Rollover Loans will be available to the Borrower to refinance the Bridge Loans on the Rollover Date. The Rollover Loans will be governed by the definitive documents for the Bridge Loans and, except as set forth below, shall have the same terms as the Bridge Loans.

Examples of Rollover Facility in a sentence

• Allocation of Bond Debt: Post-Financial Restructuring each Bond Debt Creditor shall hold a participation in each of Roll-over Facility B and Facility C in an amount to be determined by reference to the relevant Bond Debt Creditors’ participation in the Bond Debt including accrued interest at the Claims Confirmation Date as a proportion of the total amount of Affected Debt including accrued interest at the Claims Confirmation Date.

• Investors will be given the option to re-invest proceeds in MMC’s Rollover Facility.

• Post-Financial Restructuring each Financial Debt Creditor shall hold a participation in each of Roll-over Facility B and Facility C in an amount to be determined by reference to the relevant Financial Debt Creditors’ participation in the Financial Debt including accrued interest (excluding Tranches P.1, P.2, P.3 and P.4) at the Claims Confirmation Date as a proportion of the total amount of Affected Debt including accrued interest (excluding Tranches P.1, P.2, P.3 and P.4) at the Claims Confirmation Date.

More Definitions of Rollover Facility

Rollover Facility. Senior unsecured, rollover loans (the “Rollover Loans”) in an initial principal amount equal to 100% of the outstanding principal amount of the Bridge Loans on the Rollover Date. Subject to the conditions precedent set forth below, the Rollover Loans will be available to the Borrower to refinance the Bridge Loans on the Rollover Date. The Rollover Loans will be governed by the definitive documents for the Bridge Loans and, except as set forth below, shall have the same terms as the Bridge Loans. Ranking: Same as Bridge Loans. Interest rate: Rate and margins to continue to increase as set forth in Exhibit B-1 for the Bridge Loans. Maturity: Five years from the Rollover Date (the “Rollover Maturity Date”).