SPECIFIC PROVISIONS ON MULTICURRENCY GUARANTEE FACILITIES Clause Samples

SPECIFIC PROVISIONS ON MULTICURRENCY GUARANTEE FACILITIES. 3.1 As regards multicurrency Guarantee Facilities, if during the term of the Guarantee Facility, the value of the Guarantee Instruments (determined by reference to the Reference Currency according to the provisions of Clause 3.2 below) exceeds the Facility Limit of the Guarantee Facility, the Facility Limit of the Guarantee Facility is automatically supplemented with such difference, and the Bank shall notify the new value of the Facility Limit of the Guarantee Facility to the Borrower. The Borrower undertakes to create additional security covering the value exceeding the Facility Limit of the Guarantee Facility, of the nature and within the deadline set out by the Bank and to perform the appropriate publicity formalities in a 10 (ten) Business Day period starting from the notification date. If during the 10 (ten) Business Day period the total value of the Guarantee Instruments expressed in the Reference Currency is below or equal to the level of the Facility Limit of the Guarantee Facility, the Borrower is no longer required to create the respective security. 3.2 The Bank performs daily the re-evaluation of the value of the issued Guarantee Instruments by reference to the Reference Currency, according to the exchange rate of the National Bank of Romania, in order to comply with the Facility Limit of the Guarantee Facility.
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SPECIFIC PROVISIONS ON MULTICURRENCY GUARANTEE FACILITIES. 3.1 As regards multicurrencGy uaranteeFacilities, if during the termof the GuaranteeFacility, the value of the Guarantee Instrument(dsetermined by reference to the Reference Currency according to the provisions of Clause 3.2 below) exceeds the FacilitLyimit of the GuaranteeFacility, the Facility Limit of the Guarantee Facility is automatically supplemented with such difference, and the Bank shall notify the new value of the Facility Limit of the GuaranteeFacility to the Borrower.The Borrower undertakes to create additional security covering the value exceeding tFhaecility Limit of the GuaranteeFacility,of the nature and within the deadline 3.2 The Bank performs daily the re-evaluation of the value of the issuGeduarantee Instrumenbtsy reference to the Reference Currency,according to the exchange rate of the National Bank of Romania,in order to comply with the Facility Limit of the GuaranteeFacility.
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Related to SPECIFIC PROVISIONS ON MULTICURRENCY GUARANTEE FACILITIES

  • Limitations on Eurodollar Tranches Notwithstanding anything to the contrary in this Agreement, all borrowings, conversions and continuations of Eurodollar Loans and all selections of Interest Periods shall be in such amounts and be made pursuant to such elections so that, (a) after giving effect thereto, the aggregate principal amount of the Eurodollar Loans comprising each Eurodollar Tranche shall be equal to $5,000,000 or a whole multiple of $1,000,000 in excess thereof and (b) no more than ten Eurodollar Tranches shall be outstanding at any one time.

  • Provisions Related to Extended Revolving Credit Commitments If the maturity date in respect of any tranche of Revolving Credit Commitments occurs prior to the expiration of any Letter of Credit, then (i) if one or more other tranches of Revolving Credit Commitments in respect of which the maturity date shall not have occurred are then in effect, such Letters of Credit shall automatically be deemed to have been issued (including for purposes of the obligations of the Revolving Credit Lenders to purchase participations therein and to make Revolving Credit Loans and payments in respect thereof pursuant to Section 2.03(d)) under (and ratably participated in by Lenders pursuant to) the Revolving Credit Commitments in respect of such non-terminating tranches up to an aggregate amount not to exceed the aggregate principal amount of the unutilized Revolving Credit Commitments thereunder at such time (it being understood that no partial face amount of any Letter of Credit may be so reallocated) and (ii) to the extent not reallocated pursuant to immediately preceding clause (i), the Borrower shall Cash Collateralize any such Letter of Credit in accordance with Section 2.17. If, for any reason, such Cash Collateral is not provided or the reallocation does not occur, the Revolving Credit Lenders under the maturing tranche shall continue to be responsible for their participating interests in the Letters of Credit. Except to the extent of reallocations of participations pursuant to clause (i) of the second preceding sentence, the occurrence of a maturity date with respect to a given tranche of Revolving Credit Commitments shall have no effect upon (and shall not diminish) the percentage participations of the Revolving Credit Lenders in any Letter of Credit issued before such maturity date. Commencing with the maturity date of any tranche of Revolving Credit Commitments, the sublimit for Letters of Credit shall be agreed with the Lenders under the extended tranches.

  • Limitation on Issuances of Guarantees by Restricted Subsidiaries The Company will not permit any Restricted Subsidiary, directly or indirectly, to Guarantee any Indebtedness of the Company which is pari passu with or subordinate in right of payment to the Notes ("Guaranteed Indebtedness"), unless (i) such Restricted Subsidiary simultaneously executes and delivers a supplemental indenture to this Indenture providing for a Guarantee (a "Subsidiary Guarantee") of payment of the Notes by such Restricted Subsidiary and (ii) such Restricted Subsidiary waives and will not in any manner whatsoever claim or take the benefit or advantage of, any rights of reimbursement, indemnity or subrogation or any other rights against the Company or any other Restricted Subsidiary as a result of any payment by such Restricted Subsidiary under its Subsidiary Guarantee; provided that this paragraph shall not be applicable to any Guarantee of any Restricted Subsidiary that existed at the time such Person became a Restricted Subsidiary and was not Incurred in connection with, or in contemplation of, such Person becoming a Restricted Subsidiary. If the Guaranteed Indebtedness is (A) pari passu with the Notes, then the Guarantee of such Guaranteed Indebtedness shall be pari passu with, or subordinated to, the Subsidiary Guarantee or (B) subordinated to the Notes, then the Guarantee of such Guaranteed Indebtedness shall be subordinated to the Subsidiary Guarantee at least to the extent that the Guaranteed Indebtedness is subordinated to the Notes. Notwithstanding the foregoing, any Subsidiary Guarantee by a Restricted Subsidiary may provide by its terms that it shall be automatically and unconditionally released and discharged upon (i) any sale, exchange or transfer, to any Person not an Affiliate of the Company, of all of the Company's and each Restricted Subsidiary's Capital Stock in, or all or substantially all the assets of, such Restricted Subsidiary (which sale, exchange or transfer is not prohibited by this Indenture) or (ii) the release or discharge of the Guarantee which resulted in the creation of such Subsidiary Guarantee, except a discharge or release by or as a result of payment under such Guarantee.

  • Special Provisions Governing Eurodollar Rate Loans Notwithstanding any other provision of this Agreement to the contrary, the following provisions shall govern with respect to Eurodollar Rate Loans as to the matters covered:

  • Amounts and Terms of the Advances and Letters of Credit SECTION 2.01. The Advances and Letters of Credit.