Examples of Syndicated Facility in a sentence
Reference is made to the Syndicated Facility Agreement (Second Lien), dated as of November 4, 2014 (as amended, supplemented, amended and restated or otherwise modified from time to time through the date hereof, the “Second Lien Credit Agreement”), by and among Holdings, the Borrowers, the Administrative Agent and each Lender from time to time party thereto, pursuant to which the Lenders (as defined in the Second Lien Credit Agreement) have extended credit to the Borrowers.
For the purpose of calculating the Commitment Fee payable hereunder and determining the distribution of the Commitment Fee to the Lenders, the Agent shall, on a daily basis, determine the Canadian Dollar Equivalent of all U.S. Dollar Advances outstanding under the Syndicated Facility and the Working Capital Facility, based on the Exchange Rate in effect on the first Business Day of the month in respect of which such determination is made.
At no time shall the aggregate of all outstanding: (a) Working Capital Advances under the Working Capital Facility exceed the Working Capital Facility Limit; or (b) Advances under the Syndicated Facility exceed the Syndicated Facility Limit.
The Company anticipates that it may need to obtain further amendments to its existing financial covenants in those agreements in future quarters and, therefore, expects to restructure its covenant requirements during the renewal process for its Syndicated Facility in mid-2000.
Specifically, the Company must use all of the first $1.5 billion of net proceeds it receives from the sales of any domestic operations to repay indebtedness under the Syndicated Facility and Credit Facility.