Vale Loan definition
Examples of Vale Loan in a sentence
The above restriction shall not prevent BSGR Guinea Group from taking on Indebtedness as permitted by Section 5.3(g), provided that the Vale Loan shall rank senior as to both principal and interest to any such new Indebtedness.
In the event that the Vale Loan is amended in accordance with this Section 7.3(a)(iii) then Vale may at its sole discretion notify the borrowers under the Vale Loan and the transferee of the relevant Securities that no further drawings shall be made under the Vale Loan.
The Loan Parties shall use commercially reasonable efforts with a view to establishing the optimal tax structure for the implementation and funding of the Vale Loan.
In the period between the Completion Date and the date on which all amounts outstanding under the Vale Loan have been repaid, the Board shall, consistent with its fiduciary duties, undertake on an annual basis a review of the availability of Project Financing (including, if applicable, to refinance the Vale Loan), provided always that nothing in this Section shall require any member of the BSGR Guinea Group to incur any material expenditure in connection with undertaking any such annual review.
Where any member of the Vale Group (other than Vale or any member of the BSGR Guinea Group) has entered into any of the Off-take Agreement, the Vale Loan or any agreement or agreements as contemplated in Section 5.6 of this Agreement, Vale shall be responsible for such member of the Vale Group's compliance with all the provisions of the agreement into which such member has entered.
Vale (acting reasonably and in good faith), the Company (acting for itself and on behalf of the other borrowers under the Vale Loan) and such transferee shall agree the terms of a new debt financing for the BSGR Guinea Group going forward.
Each of the Loan Parties shall pay its own costs and expenses in relation to the preparation, negotiation and signing of the Vale Loan.