Examples of Existing Debt Agreements in a sentence
Depending on the ability and cost to scale up methanation facilities, it represents one of the only true means of decarbonising many hard-to-abate sectors like peaking electricity and high temperature process heat; and Potentially facilitates the creation of a new export market – renewable methane.
Assuming the requisite waivers from lenders under the Existing Debt Agreements are forthcoming, the Lender Consent/Refinancing is expected to complete on or around mid-to-late November 2018.
In the absence of such agreement, the Facilities Sale Proceeds must be applied (on a pro rata basis) to repay the Facilities Agreement and the Revolving Credit Facility and to offer a prepayment to all other lenders under the Existing Debt Agreements.
However, there are obligations in the Facilities Agreement, Revolving Credit Facility, the 2013 Notes and 2016 Notes (as defined below at paragraph (h)) which will oblige Greencore to offer to make a pro rata prepayment to all lenders under the Existing Debt Agreements unless agreed otherwise.
Following today’s announcement, Greencore will commence discussions with its lenders regarding the amount of any such prepayments that will be required, and the Board believes that the Group’s lenders will either agree to a waiver of the prepayment obligations/offers or agree to a refinancing of the Existing Debt Agreements (including the prepayment obligations).