Surety Bond Facility definition
Surety Bond Facility means each surety bond facility to be entered into by a Debtor which shares in the Transaction Security as provided for in this Agreement and, in respect of which, the provider of such facility has become a Party as a Surety Bond Provider in respect of that facility pursuant to Clause 22.11 (Accession of Surety Bond Providers under a Surety Bond Facility).
Surety Bond Facility means the EUR 50 million super senior surety bond facility agreement originally dated 5 April 2017 between, amongst others, the Company, Codere Newco S.A.U. and Amtrust Europe Limited.
Surety Bond Facility means a facility provided by the Surety to the Borrowers pursuant to the terms and conditions of the Surety Agreements solely for purposes of issuing surety bonds in the ordinary course of business, in an aggregate amount not to exceed U.S.$15,000,000.
Examples of Surety Bond Facility in a sentence
The New Super Senior Notes will be senior obligations of the Issuer and will rank equally in right of payment with all other existing and future senior indebtedness of the Issuer (including debt incurred under the Revolving Credit Facility, the Surety Bonds Facility, the Standalone Facilities and the Notes), and super senior in respect of the enforcement of Collateral, together with the existing Revolving Credit Facility, Surety Bond Facility and future Standalone Facilities.
The Debtors may make Payments of the Surety Bond Facility Liabilities at any time in accordance with, and subject to the provisions of, the Surety Bond Facility Agreement.
More Definitions of Surety Bond Facility
Surety Bond Facility means up to $15,000,000 in surety bonds issued by one or more third party bonding companies for the benefit of the Construction Business Debtors in connection with Construction Contracts in a manner consistent with past practice.
Surety Bond Facility means the EUR 50 million super senior surety bond facility agreement originally dated 5 April 2017 between, amongst others, Codere Newco S.A.U., Amtrust Europe Limited and Amtrust International Underwriters DAC (as amended, supplemented and/or restated from time to time).