VAT Facility definition

VAT Facility means a credit facility established by a commercial bank licensed in Mexico or Brazil in favour of any Obligor organized under laws of Mexico or Brazil (or any political subdivision thereof) which credit facility is used solely to finance cash flow an amount equal to the value-added tax refund the relevant Obligor is owed by the applicable Official Body.

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VAT Facility means a credit facility established by a commercial bank licensed in Mexico or Brazil in favour of any Guarantor organized under laws of Mexico or Brazil (or any political subdivision thereof) which credit facility is used solely to finance cash flow an amount equal to the value-added tax refund the relevant Guarantor is owed by the applicable Governmental Entity.

VAT Facility. Has the meaning set forth in Section 2.4(y).

Examples of VAT Facility in a sentence

• SCHEDULE 1.5 also sets forth a schedule of all Pagares outstanding on the Effective Date which the parties have agreed will be financed under the VAT Facility and shall continue to be outstanding on the terms set forth therein and shall be treated as VAT Loans hereunder on and after the Effective Date.

• Notwithstanding anything to the contrary in Section 1.1(b) of the Credit Agreement and the definition of "VAT Facility Availability Period", the Lenders shall not be obligated to provide to Borrower VAT Loans until the Lenders shall have received executed copies of the Definitive Agreements.

• Each Loan under the VAT Facility may only be applied in or towards payment of VAT due and payable with respect to Capital Costs.

• SCHEDULE 1.5 also sets forth a schedule of all VAT Loans outstanding on the Amendment Effective Date which the parties have agreed will be financed under the VAT Facility and shall continue to be outstanding on the terms set forth therein and shall be treated as VAT Loans hereunder on and after the Amendment Effective Date.

• No Credit Party shall, or shall permit any Subsidiary to, make any prepayment, payment, purchase, repurchase, defeasance or other acquisition or retirement for value, prior to maturity or required scheduled repayment, of any other Indebtedness for borrowed money (including under the Term Credit Agreement) of such Credit Party (other than in respect of the VAT Facility).

• The Borrower must repay each Loan under the VAT Facility in a single payment by no later than the Final Maturity Date for such Loan.

More Definitions of VAT Facility

VAT Facility means a credit facility established by a commercial bank licensed in Mexico in favour of Camino Rojo which credit facility is used solely to finance an amount equal to certain value-added tax refunds Camino Rojo is owed by the applicable Governmental Authority.

VAT Facility means the Facility evidenced by the Total VAT Loan Commitment.

VAT Facility means a credit facility established for an Obligor or Subject Entity solely to bridge the payment of value added tax or other similar consumption tax refunds from an Official Body.

VAT Facility means the VAT facility made available to the Debtor pursuant to article 2.1(b) of the Facilities Agreement;

VAT Facility means the facility referred to as such in Clause 2 (The Senior Facilities) of this Agreement.

VAT Facility means a $93 million Peso equivalent unsecured loan to finance value added tax obligations in respect of the transactions contemplated by the Financing Documents, the Acquisition and ancillary transactions.