Unsecured Loan Facility definition
Examples of Unsecured Loan Facility in a sentence
The Lenders under the Unsecured Loan Facility shall be intended third party beneficiaries of this Section 18 of this Amendment.
A Member's failure to make an Additional Capital Contribution if, as and when due pursuant to Section 3.12 or for the purpose of making payments if, as and when due pursuant to the terms of the Unsecured Loan Facility (collectively "Loan Default") shall be an Event of Default under the Agreement.
Date: [●] Dear Sirs Unsecured Loan Facility Agreement dated [●] (the “Loan Agreement”) We refer to the Loan Agreement.
If and after the maturity of any loan made under the Unsecured Loan Facility has been accelerated due to an "Event of Default" (as defined in the Unsecured Loan Facility), payment of the Asset Management Fee referred to in Exhibit H and payment of all indemnity obligations of the Company to the Members and the Manager shall be subordinated to the prior payment in full in cash of the obligations then outstanding under the Unsecured Loan Facility.
Borrowers shall not make any voluntary prepayments of any amounts borrowed hereunder so long as any amount remains outstanding under the Unsecured Loan Facility or the Unsecured Subordinated Loan Facility at such time.
Each Member hereby authorizes the Company to enter into the Secured Loan Facility and the Unsecured Loan Facility and to borrow or otherwise obtain credit thereunder and to perform in accordance with the terms thereof; PROVIDED that nothing contained in this Section shall authorize the Company to enter into any other Financing not otherwise authorized under the Agreement.
Notwithstanding the Annual Investment Plan set forth in Exhibit G to the Agreement, so long as the Secured Loan Facility or the Unsecured Loan Facility (collectively, the "New Loans") remain in place, CalPERS agrees that its Additional Capital Contribution shall exceed the Annual Investment Plan for the period ending December 31, 1999, by One Hundred Seventy-One Million Dollars ($171,000,000) and shall contribute that amount upon written notice from the Manager.
The execution, delivery and performance of the obligations under the Acquisition Documents and the documentation of the Secured Loan Facility and the Unsecured Loan Facility will not violate the Agreement or any other formation document, binding final policy or guideline of the Company or its members, or any law or regulation applicable to any of them.
The board of directors shall adopt a charter for the Audit Committee, and the Audit Committee shall review this charter annually to assess the charter's adequacy.
Notwithstanding any Financing limitations or guidelines contained in the Agreement (including Exhibit C thereto) to the contrary, CalPERS hereby approves, without limitation, (i) the Unsecured Loan Facility and (ii) the Secured Loan Facility.