VAT Financing definition
VAT Financing means any credit facility, line of credit or other senior debt financing arrangement in favour of any Primero Entity or any of its Affiliates provided by VAT Lenders to Primero or its Affiliates for the purpose of financing all or a portion of any indebtedness up to an aggregate maximum of $80,000,000 owed by Primero or its Affiliates with respect to the payment of value added taxes or other taxes payable to the Government of Mexico as a result of the transactions contemplated by the San Dimas APAs, and any indebtedness owed by Primero or its Affiliates to Goldcorp or its Affiliates in respect thereof, which financing shall not be redrawn upon once all or any portion of it has been repaid.
Examples of VAT Financing in a sentence
Within thirty (30) days of receipt of the Quarterly VAT Calculation Statement, the Seller Parent shall reimburse the Buyer Parent an amount equal to the Quarterly VAT Financing Charges for the corresponding calendar quarter.