Examples of New Lenders in a sentence
To approve conversion of loan extended by New Lenders into equity.
As REC Limited and Indian Renewable Energy Development Agency Limited (“New Lenders”) have specialised knowledge in relation to the power sector in India and would be better placed to address the specific needs of the Group and allow adequate operational flexibility for efficient running of business, the STG had submitted a proposal to the Existing Lenders for refinancing the outstanding restructured facilities (the “Refinancing Proposal”) on the basis of sanction letters from the New Lenders.
By its execution and delivery hereof, each of the New Lenders shall be deemed to have made each of the statements set forth in clauses (i), (ii), (iii), (iv) and (v) of paragraph 3 of the Assignment and Acceptance as if such statements were fully set forth herein at length.
In connection herewith, the Administrative Agent shall enter in the Register (A) the names of any New Lenders, (B) the respective allocations of any Extending Lenders and New Lenders effective as of each Extension Date and (C) the Termination Date applicable to each Lender.
Only in case of the occurrence of certain triggering events and after a resolution dispute process, the trustee would then act under the instructions of the New Lenders and would be entitled to sell the secured shares.