Facility D Clause Samples
The 'Facility D' clause defines the terms and conditions specific to a particular credit facility, often labeled as Facility D, within a broader financing agreement. This clause typically outlines the amount available under Facility D, the interest rate, repayment schedule, and any unique covenants or requirements that apply only to this tranche of the loan. For example, Facility D might be designated for a specific purpose, such as capital expenditures, and could have different drawdown or repayment terms compared to other facilities in the agreement. The core function of this clause is to clearly delineate the rights and obligations of the parties with respect to Facility D, ensuring that both lender and borrower understand the specific rules governing this portion of the financing.
Facility D. The relevant Facility D Lenders grant to UPC Distribution:
(a) a committed €109,371,094 term loan facility under which the relevant Lenders will, when requested by UPC Distribution, make cash advances in euros to UPC Distribution on the Utilisation Date for Facility D1;
(b) a committed €196,867,969 term loan facility under which the relevant Lenders will, when requested by UPC Distribution, make cash advances in euros to UPC Distribution on the Utilisation Date for Facility D2;
(c) a committed €196,867,969 term loan facility under which the relevant Lenders will, when requested by UPC Distribution, make cash advances in euros to UPC Distribution on the Utilisation Date for Facility D3;
(d) a committed €284,364,844 term loan facility under which the relevant Lenders will, when requested by UPC Distribution, make cash advances in euros to UPC Distribution on the Utilisation Date for Facility D4; and
(e) a committed €284,364,844 term loan facility under which the relevant Lenders will, when requested by UPC Distribution, make cash advances in euros to UPC Distribution on the Utilisation Date for Facility D5, in each case subject to the terms of this Agreement.
Facility D. The Lender agrees, subject to the terms and conditions of the Seventh Amendment, to make a Loan to GNI in the principal amount of $15,000,000. Such Loan shall be made by way of a single borrowing made on the effective date of the Seventh Amendment. The Loan made by the Lender under Facility D shall be evidenced by Note D. The proceeds of the Loan under Facility D shall be used as follows: (i) $3,000,000 as a principal prepayment of the Loan outstanding under Facility B and (ii) the remaining proceeds shall be paid by GNI to DSI in connection with the Consolidation.
Facility D. The proceeds of the single Advance made by the Lenders under Facility D shall be used by SunOpta Food Group primarily to lend such amount to LP to facilitate the payment by LP of certain term indebtedness of LP under the Original Agreement.
Facility D in the case of a Funding Portion to be provided by way of Letter of Credit, the Funding Portion is requested under Facility D and the relevant Borrower has completed all standard forms and other standard documentation required by the US LC Facility Provider in relation to the issue of that Letter of Credit;
Facility D. No amounts prepaid in respect of Facility D may be reborrowed. Any amount prepaid in respect of the Facility D Outstandings shall reduce each outstanding Facility D Repayment Instalment pro rata. Any cancellation or prepayment in relation to Facility D shall be applied pro rata between the Facility D1 Commitments, the Facility D2 Commitments and the Facility D3 Commitments or (as the case may be) Facility D1 Outstandings, Facility D2 Outstandings and Facility D3 Outstandings according to their respective Sterling Amounts.
Facility D. Pointer shall pay to the Lender a non utilisation fee at the rate of 0.5% per annum with respect to any unutilized and uncancelled amount of the Commitment under Facility D. the amount of such fee shall be paid in USD (without double counting similar fee detailed in the Standard Form Documents reacted to Facility D). Such fee shall be payable in the beginning of each month.
Facility D. The Borrower shall repay the Facility D Outstandings in full on the Facility D Repayment Date.
Facility D. No amounts prepaid in respect of Facility D may be reborrowed. Any prepayment of Facility D Commitment under clause 6 shall reduce the Facility D Commitment of each Facility D Lender pro rata.
Facility D. Subject to the terms and conditions of this Agreement, the L/C Issuer agrees to incur, from time to time prior to the Termination Date, upon the request of Borrower and for Borrower’s account, Letter of Credit Obligations by causing one or more letters of credit to be issued or renewed, as the case may be, for Borrower’s account (the “Letters of Credit” and each, a “Letter of Credit”). The aggregate amount of all such Letter of Credit Obligations shall not at any time exceed the lesser of (i) Seven Million Dollars ($7,000,000.00) (the “L/C Limit”), or the amount permitted by paragraph (f) of this Section 2.02. Subject to Section 2.02(i) hereof, no such Letter of Credit shall have an expiry date which is more than one (1) year following the date of issuance thereof. Any Letter of Credit Obligation may, upon request of the L/C Issuer, be evidenced by a Facility D Note in the form attached hereto as Exhibit B.
Facility D. Subject to the terms and conditions of this Agreement, the L/C Issuer agrees to incur, from time to time prior to the Termination Date, upon the request of Borrower and for Borrower’s account, Letter of Credit Obligations by causing one or more standby letters of credit to be issued or renewed, as the case may be, for Borrower’s account (the “Standby Letters of Credit” and each, a “Standby Letter of Credit”). The aggregate amount of all such Letter of Credit Obligations shall not at any time exceed the lesser of (i) Seven Million Dollars ($7,000,000.00) (the “L/C Limit”), or the amount permitted by paragraph (f) of this Section 2.02. Subject to Section 2.02(i) hereof, no such Standby Letter of Credit shall have an expiry date which is more than one (1) year following the date of issuance thereof. Any Letter of Credit Obligation may, upon request of the L/C Issuer, be evidenced by a Facility D Note in the form attached hereto as Exhibit B. Borrower shall deliver to L/C Issuer a completed and executed application form together with subcharter documents in the forms then required by L/C Issuer prior to the issuance of any Standby Letter of Credit. In the event of any inconsistency between L/C Issuer’s required forms and this Agreement, the Mortgages and the Assignments, the provisions of this Agreement, the Mortgages and the Assignments shall prevail. In addition, the special provisions of Exhibit J shall apply to any Standby Letters of Credit and any extensions or reversals thereof.