Flex Provisions definition

Flex Provisions has the meaning assigned to such term in Section 11.01.
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Flex Provisions means the market flex provisions of the Fee Letter.
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Flex Provisions means any term or provision of (i) the Fee Letter dated as of November 16, 2006 (the “Fee Letter”) among Parent, Sub, X.X. Xxxxxx Securities Inc. and JPMorgan Chase Bank, N.A that purports to permit the lead arranger to change any or all of the structure, terms or pricing of the Facilities (as defined in the Debt Commitment Letters), in order to close, or achieve a Successful Syndication (as defined in the Fee Letter) of, the Facilities or (ii) the fee letter dated as of November 16, 2006, among Parent, Sub and X.X. Xxxxxx Securities Inc. that purports to permit X.X. Xxxxxx Securities Inc. to change the terms of its preferred stock or common equity investment. Parent and Sub will use their reasonable best efforts to comply with their respective obligations, and enforce their respective rights, under the Commitment Letters. Parent will give the Company prompt notice of any material breach by any party to the Commitment Letters of which Parent has become aware or any termination of the Commitment Letters. Parent will keep the Company informed on a reasonably current basis in reasonable detail of the status of its efforts to obtain the proceeds of the Financing and will not permit any amendment or modification to, or any waiver of any material provision or remedy under, the Commitment Letters if such amendment, modification, waiver or remedy (x) is adverse to the interests of the Company in any material respect, (y) reduces the aggregate amount of the Financing or (z) amends the conditions to the drawdown of the Financing. The Company will also use its reasonable best efforts to assist and cooperate with Parent and Sub in connection with their efforts to obtain the proceeds of the Financing (or any alternative financing for a transaction including the businesses described in Section 4.02 of the Parent Disclosure Letter), including providing reasonably required information relating to the Company and the Company Subsidiaries to the financial institution or institutions providing the Financing and executing and delivering, and causing the Company Subsidiaries and its and their officers, attorneys and accountants to execute and deliver, customary certificates, legal opinions (which may be reasoned, if counsel reasonably believes it cannot give the opinion otherwise), comfort letters or other documents and instruments relating to guarantees, the pledge of collateral and other matters ancillary to the Debt Financing as may be reasonably requested by Parent in conn...
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Examples of Flex Provisions in a sentence

  • The Administrative Agent and the Borrower may enter into an amendment to this Agreement and the other Loan Documents within 90 days after the incurrence of an Incremental Facility (including a Copper Acquisition Facility) to effect such changes to the Credit Agreement and the other Loan Documents that would have been permitted to be included in the Incremental Facility Amendment (including the Copper Acquisition Flex Provisions) for such Incremental Facility (each an “Incremental Facility Flex Amendment”).

  • Section 9.02(e) of the Existing Credit Agreement permits the terms of the Existing Credit Agreement to be amended with the written consent of the Borrower and the Administrative Agent to implement the Flex Provisions.

  • The Flex Provisions continue in effect until completion of what the Fee Letter defines as a “Successful Syndication” – i.e., when the Commitment Parties hold none of the Term Loan Facility and no more than $187.5 million of the ABL Facility.

  • Citi further explained that it incorporated sufficient Flex Provisions in the financing package to ensure that it would be comfortable funding and holding the loans.

  • Upon the Plan’s confirmation, Solutia had taken all steps necessary to permit the Commitment Parties (equipped with the Flex Provisions, among other things) to commence syndication of the Senior Secured Facilities.

  • Toward the end of 2007, the Commitment Parties advised Solutia that, based in part upon feedback received from a potential investor interested in participating at Flex Provision prices, Solutia would have “only upside” in waiting until January 2008 to consummate the Exit Financing and that it was in Solutia’s interest not to implement (and thereby test the effect of) the Flex Provisions to close the financing in December.

  • The Commitment Parties had ample room, given the Flex Provisions, to syndicate at prices that could interest the market, but they remained inflexible throughout the road show with respect to pricing.

  • At the time of this advice, not only were the Commitment Parties choosing to withhold implementation of the Flex Provisions, they were not actively pursuing syndication with various interested investors.

  • The execution and delivery by the parties thereto of the definitive credit documentation in connection with the Term Facility consistent in all material respects with the terms set forth in the Term Facility Commitment Letter (as in effect on the date hereof, as such terms may be modified pursuant to the Term Flex Provisions) shall have occurred, and the Term Facility shall be effective.


More Definitions of Flex Provisions

Flex Provisions means the market flex provisions of the Fee Letter. “Foreign Lender” means any Lender or Issuing Bank that is organized under the laws of a jurisdiction other than the United States of
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Related to Flex Provisions

  • Surviving Provisions has the meaning specified in Section 10.02.

  • provisions means "provisions, terms, agreements, covenants and/or conditions"; (iii) "lien" shall mean "lien, charge, encumbrance, title retention agreement, pledge, security interest, mortgage and/or deed of trust"; (iv) "obligation" shall mean "obligation, duty, agreement, liability, covenant and/or condition"; (v) "any of the Leased Premises" shall mean "the Leased Premises or any part thereof or interest therein"; (vi) "any of the Land" shall mean "the Land or any part thereof or interest therein"; (vii) "any of the Improvements" shall mean "the Improvements or any part thereof or interest therein"; (viii) "any of the Equipment" shall mean "the Equipment or any part thereof or interest therein"; and (ix) "any of the Adjoining Property" shall mean "the Adjoining Property or any part thereof or interest therein".

  • Article 55 BRRD means Article 55 of Directive 2014/59/EU establishing a framework for the recovery and resolution of credit institutions and investment firms.

  • Transfer Provisions means the provisions of Section 00-00-000 of the FILOT Act, as amended or supplemented from time to time, concerning, among other things, the necessity of obtaining County consent to certain transfers. Any reference to any agreement or document in this Article I or otherwise in this Fee Agreement shall include any and all amendments, supplements, addenda, and modifications to such agreement or document.

  • Agreement Date Provisions means Part 1 (Introduction), Part 2 (Term), Part 3 (Conditions Precedent and Milestone Requirement), Condition 8 (Application), Condition 9 (Definitions: Part 5A), Condition 14 (Strike Price Adjustments), Condition 16 (Application), Condition 17 (Definitions: Part 5B), Condition 20 (Strike Price Adjustments), Condition 24 (Default Interest), Condition 25 (Set-off), Condition 26 (Deductions and withholdings), Condition 27 (Payment accounts), Condition 28 (Generator representations and warranties), Condition 29 (CfD Counterparty representations and warranties), Condition 30 (Generator undertakings: General), Condition 32 (Generator undertakings: Information provision and no cumulation of Subsidy, state aid and/or union funding), Part 12 (Termination), Part 14 (Dispute Resolution) to Part 17 (Miscellaneous) (inclusive), Schedule 1 (Conditions Precedent), Annex 1 (Calculation of Termination Amount), Annex 2 (Change Control Procedure), Annex 3 (Form of Direct Agreement), paragraph 1 of Part A of Annex 7 (FMS arrangements, Sustainability Criteria, RQM Calculation Methodology and ACT Efficiency) and Annex 8 (Pro forma notices);

  • General Provisions means those portions of the Subscription Agreement headed “General Provisions” and contained on pages 7 to 12;

  • Other Definitional Provisions set forth in Section 1.2 of the Basic Servicing Agreement are incorporated by reference into this 2017-3 Servicing Supplement.

  • Additional Provisions shall have the meaning set forth in Section 15.01.

  • Communications Provisions means the Communications Provisions in [Part 10, Chapter 4] of the General Regulations.

  • Standard Terms and Conditions or “Standard Terms” means these terms and conditions for the grant of the Loan to the Borrower by ABFL.

  • Specific Terms and Conditions means the specific terms and conditions as described in section 6.1 (and, in relation to an Agreement between Envestra and a Network User, means the Specific Terms and Conditions which form part of that Agreement).