Examples of Facility B Loan in a sentence
If at any time after 31 July 2020, the amount of the available cash, after allowing for the minimum headroom amount of EUR 1 million, of the Company (less any amount of the proceeds of any Facility B intended to be applied towards costs incurred by the Company to which Facility B Loan relates, but not yet so applied)) exceeds EUR 1.5 million, the Company has to apply, within five business days of the excess cash arising, the relevant excess cash to prepay any amounts outstanding under Facility B.
Actual time may vary and is at the sole discretion of the wireless operator.
As at 31 December 2005, the balance on the Facility A loan, including short-term, was £12,000,000 (2004 – £13,000,000; 2003 – £nil).The Facility B Loan has an interest of LIBOR plus a margin of 2.00%.
Amounts outstanding at the year end are included in accruals.All loans, with the exception of the Facility B Loan, are secured with a floating charge over the remaining assets of the companies in the H&T Group Plc group.The loan of £5,250,000 in 2003 was repaid in 2004.
As at 31 December 2005, the balance on the Facility B Loan was £18,600,000 (2004 – £18,100,000; 2003 –£nil).A Mezzanine Credit Agreement has an annual interest rate of LIBOR plus 8%.