New Money. The Subordinated Party agrees and acknowledges that the Secured Parties may, at their discretion, increase any amounts payable or make further advances under the Finance Documents and/or make further facilities available to the Borrower. Any such increased payments, further advances and/or additional facilities will be deemed to be made under the terms of the Finance Documents.
New Money. The Subordinated Creditor hereby agrees that the Facility Agent (acting on behalf of the Lenders) may, at its discretion, increase the facility made available to the Company and make further advances to the Company, and each such advance will be deemed to be made under the terms of the Agreement.
New Money. Should the Lender agree, in connection with a debt restructuring or in order to avoid such restructuring, to extend new credits (“New Money”) to the Borrower or other entities of the public or private sector in the country of the Borrower and should the Lender’s participation in such New Money be calculated on the basis of credits extended by the Lender and/or other companies of the Deutsche Bank group to the Borrower or such other entities, the Guarantor hereby irrevocably and unconditionally guarantees, in accordance with the terms hereof, that portion of the claims for principal, interest, cost, expenses, fees and other amounts payable in respect of the New Money by which the Lender’s participation in the New Money is increased by virtue of the Indebtedness, regardless of whether the Lender is legally obliged to take part in the restructuring of the New Money. The Guarantor’s consent to the terms and documentation of the New Money shall not be required.
New Money. If the Company shall either receive an investment by a third party investor or borrow money from a bank or other third party lender, 50% of such investment or loan must be paid by the Company to the Holder to reduce the outstanding principal and interest hereunder.
New Money. 7.1 VTTI hereby agrees that the Agent (acting on behalf of the Finance Parties) may, at its discretion, make further advances under any agreement relating to the Senior Liabilities and each such advance shall be deemed to be made under the relevant agreement.
New Money. The Hedging Bank, Overdraft Bank and Mezzanine Lenders hereby agree that the Senior Banks may, at their absolute discretion, make further advances to any of the members of the Group of up to £25,000,000 in aggregate in addition to the facilities provided under the Facility Agreement as at the date of this Agreement and each such advance will be deemed to be made under the terms of the Facility Agreement. However, if at any time after the Senior Financing Documents are first enforced, the principal amount of the Senior Liabilities shall have been increased to a greater extent than £25,000,000 by any such further advances, the subordination of the Mezzanine Liabilities effected by virtue of this Agreement shall, to that greater extent, be of no effect and the Senior Liabilities shall be postponed to and rank after the Hedging Liabilities, the Overdraft Liabilities and the Mezzanine Liabilities to that greater extent.
New Money. If, in connection with any General Debt Restructuring, the Grantor agrees to increase its exposure (whether by way of additional advances or otherwise), the Grantor shall not be obliged to account to the Participant under the Funded Participation until that increased exposure has been paid and satisfied unless the Participant participates in the increased exposure on the terms of the Funded Participation (mutatis mutandis) Provided that, notwithstanding any other provision of these Terms and Conditions the Participant shall have no obligation to participate in any such increased exposure whether in connection with any General Debt Restructuring or otherwise.
New Money. Should you agree, in connection with a debt restructuring or in order to avoid such restructuring, to extend new credits ("New Money") to the Borrower or other entities of the public or private sector in the country of the Borrower and should your participation in such New Money be calculated on the basis of credits extended by you and/or other companies of the Deutsche Bank group to the Borrower or such other entities, we hereby irrevocably and unconditionally guarantee, in accordance with the terms hereof, that portion of the claims for principal, interest, cost, expenses, fees and other amounts payable in respect of the New Money by which your participation in the New Money is increased by virtue of the Indebtedness, regardless of whether you are legally obliged to take part in the restructuring or the New Money. Our consent to the terms and documentation of the New Money shall not be required.
New Money. (a) The Obligors shall not (and the Company shall procure that no other member of the Group shall) incur any third party financing (other than working capital financing that is permitted pursuant to the provisions of Schedule 13 (Undertakings)) prior to the End Date (any such third party financing being a “Relevant Financing”) unless:
New Money. 2025 Notes Subject to the satisfaction of the conditions precedent described herein, the Issuer shall issue new money notes due 2025 in an aggregate principal amount of at least $30 million (which, for the avoidance of doubt, will not be issued with an original issue discount) (the “New Money 2025 Notes”) in up to three tranches, as set out below: (i) On or before the Interim Financing Date, and subject to the satisfaction or waiver of the conditions precedent relating to the funding of the first tranche described in the “Conditions” section below (the “Tranche 1 Conditions”), the Issuer shall issue the first tranche of New Money 2025 Notes in an amount of not less than $17 million (subject to a use of proceeds schedule to be prepared by FTI and acceptable to the New Money 2025 Noteholders (acting reasonably), which shall include approximately $14 million to pay payroll and critical suppliers and which shall also include the amounts necessary to comply with the provision of this Term Sheet for payment of the fees and expenses of the professional advisors of (i) the AHG (as defined in the Existing 2025 Notes NPA (the “2025 Notes AHG”) or its members, and (ii) the Committee) (“Tranche 1”); (ii) On or before July 31, 2023 or such later date as agreed by the Company and the New Money 2025 Noteholders as listed in the first confidential annexure, and subject to the satisfaction or waiver of the conditions precedent relating to the funding of the second tranche described in the “Conditions” section below (the “Tranche 2 Conditions”), the Issuer shall issue the second tranche of New Money 2025 Notes in an amount of not less than $10 million (“Tranche 2”); and (iii) On or before August 31, 2023 or such later date as agreed by the Company and the New Money 2025 Noteholders, and subject to the satisfaction or waiver of the conditions precedent relating to the funding of the third tranche described in the “Conditions” section below (the “Tranche 3 Conditions”), the Issuer shall issue the third tranche of New Money 2025 Notes in an amount of not less than $3 million (“Tranche 3”). Subject to customary limitations, exceptions, and de minimis thresholds to be agreed, the New Money 2025 Notes shall have a collateral and guarantee package that comprises (i) subsidiary guarantees at each of the Group’s operating entities/jurisdictions (the “New Money Guarantees”), (ii) to the extent unencumbered (with “unencumbered” including in its meaning for this purpose an absence of a...
