Examples of Term Facility Agreement in a sentence
The net proceeds from the Additional Class A Loans were used to repay £362,000,000 of outstanding debt under the Senior Term Facility Agreement.
Even if the Exit ABL Facility Agreement and the Exit Term Facility Agreement are entered into, any inability of the Reorganized Debtors to remain in compliance with their covenants thereunder could restrict the ability of the Reorganized Debtors to fully access the maximum amount that may be borrowed thereunder.
As a result of the transactions the Group raised funding in the amount of EUR100 million (USD107 million) with fifteen months maturity at an effective rate of 2.6% p.a.On 24 May 2017 the Group entered into a new syndicated Pre-Export Finance Term Facility Agreement (PXF) in the amount of USD1.7 billion, interest rate 3M LIBOR+3% per annum, maturity 5 years (repayment starting in 2 years).
If TRG wished to pay dividends at a time where its Senior Secured Net Leverage Ratio was not in compliance with this level, TRG would be required to obtain the prior consent of the relevant lenders under the Forward Start Term Facility Agreement and the Forward Start Super Senior RCF Agreement.
In addition, the terms of the Forward Start Term Facility Agreement and the Forward Start Super Senior RCF Agreement restrict the payment of dividends such that no dividends (other than de minimis management equity repurchases and management and employee advances) are permitted unless the Group’s Senior Secured Net Leverage Ratio is no greater than 2.75 times (on a pro forma basis).