Second Facility definition
Examples of Second Facility in a sentence
As additional consideration, Borrower agrees it will, or will cause its affiliates to engage Lender at the appropriate time, on mutually acceptable terms substantially similar to the Design-Build Contract for the Madera Facility, on a design-build agreement for the Second Facility irrespective of whether the Term Loan is repaid at the time Borrower or its affiliates is prepared to contract for the design and construction of that facility.
As additional consideration, Borrower agrees that Lender will be engaged at the appropriate time, on mutually acceptable terms substantially similar to the Design-Build Contract for the Madera Facility, on a Design-Build Contract for the Second Facility irrespective of whether the Loan is repaid at the time Borrower is prepared to contract for the design and construction of that facility.
Borrower shall pay when due each of the Initial Facility Charge and the Second Facility Charge.
The parties hereto acknowledge and agree that, notwithstanding anything to the contrary in the Agent Fee Letter, the Facility Increase under and pursuant to this Amendment in accordance with Section 6.1.3 of the Credit Agreement on the date hereof shall be deemed to be the Second Facility Increase, as contemplated by the Agent Fee Letter and the Second Facility Increase Fee as set forth in the Agent Fee Letter shall be due and payable as of the date of this Amendment.
Neither the Borrower nor the Lender may transfer (either by assignment or by novation) any of its Rights or Duties under this Second Facility Agreement, save that the Lender may transfer (either by assignment or by novation) any of its Rights and/or Duties under this Second Facility Agreement to an affiliate of the Lender or, whilst an Event of Default is continuing, to any third party.
Amounts drawn under the Credit Facility will be paid and evidenced in accordance with the terms of the Second Facility Agreement.
The First Repayment Date for all Loans made under this Second Facility Letter is that date which falls no later than six months after the Starting Point of Credit and being on either 30 January or 30 July and subsequent Repayment Instalments must be repaid on each 30 January and 30 July falling after the First Repayment Date.
Tenant shall pay Landlord as rent for the Premises (a) for the period commencing on the date of this Lease, rent will be $1.00 per month; (b) for the period commencing on the first day of the calendar month after Completion of the First Facility, rent will be $41,667 per month; (c) for the period commencing on the first day of the calendar month after Completion of the Second Facility, rent will be $75,000 per month.
Except as otherwise provided in this Second Facility Letter or to the extent that the context requires otherwise, the provisions of clause 1.2 (Construction) of the Framework Agreement shall apply to this Second Facility Letter as if expressly set out in this Second Facility Letter.
The Borrowers shall pay to the Lender a non-refundable facility fee (the 'Second Facility Fee') in United States Dollars of Fifteen Thousand Dollars ($15,000) on the Term Loan D Effective Date, which such Second Facility Fee shall have been fully-earned by Lender on the Term Loan D Effective Date.