Syndicated Facility Clause Samples
A Syndicated Facility clause defines the arrangement under which multiple lenders jointly provide a loan to a single borrower, typically coordinated by one or more lead banks. This clause outlines the roles and responsibilities of each lender, the process for disbursing funds, and the mechanisms for decision-making among the syndicate members. By establishing clear procedures and shared obligations, the clause facilitates the pooling of resources for large-scale financing while distributing risk among the participating lenders.
Syndicated Facility. Claims On the Effective Date, each holder of an allowed claim arising under the Prepetition Syndicated Credit Agreement (“Syndicated Facility Claims”) will receive: (A) if a Sale Transaction is consummated, such holder’s pro rata share of (x) Distributable Sale Proceeds (after payment in full of any Priming Facility Claims), until the Syndicated Facility Claims have been paid in full, and (y) any Non-Cash Consideration provided for under a Plan Sponsorship Proposal; or (B) if a Restructuring Transaction is consummated, such holder’s pro rata share of (i) Partial Sale Proceeds, if any, remaining after the DIP Facility Claims and Priming Facility Claims have been paid in full and (ii) 100% of the Reorganized AAC Equity Interests (as defined below), subject to dilution by the New Warrants and the Management Incentive Plan.
Syndicated Facility. Subject to the provisions of this Agreement, the Borrower may borrow, repay and reborrow by way of Syndicated Accommodations from each Syndicated Lender pursuant to the Syndicated Facility up to the amount of such ▇▇▇▇▇▇'s Syndicated Facility Commitment by:
Syndicated Facility. (i) During the Revolving Period, the Borrower may borrow, repay and re-borrow Advances under the Syndicated Facility, subject to Sections 3.1(a) and 5.7.
(ii) With respect to the Term Lenders under the Syndicated Facility the Aggregate Principal Amount of the Syndicated Facility on the Term Conversion Date applicable to such Term Lenders will be repayable by the Borrower in one balloon principal payment, together with all accrued and unpaid interest and fees thereon, and all other Obligations owing to such Term Lenders under the Syndicated Facility, on the Syndicated Facility Termination Date applicable to such Term Lenders.
Syndicated Facility. Subject to the provisions of this Agreement, the Borrower may obtain Syndicated Accommodations from each Syndicated Lender pursuant to the Syndicated Facility up to the Syndicated Facility Commitment of such Syndicated Lender by: 9617679.9
Syndicated Facility. The Syndicated Facility Lenders hereby establish the Syndicated Facility in favour of the Borrower. The Syndicated Facility may be drawn down by the Borrower during the Revolving Period in accordance with Section 3.8 in Canadian Dollars, or the Canadian Dollar Exchange Equivalent thereof in U.S. Dollars, or any combination thereof, to a maximum of the Syndicated Facility Commitment Amount, subject to Section 3.1(c). The Syndicated Facility is a revolving facility and amounts repaid thereunder may be re-borrowed. The Individual Syndicated Facility Commitment Amount of each of the Syndicated Facility Lenders is as set out in Schedule B.
Syndicated Facility. Subject to Sections 3.3(b)(iv) and 3.3(b)(v), the undrawn portion of any Non-Agreeing Lender Commitment Amount in respect of the Syndicated Facility will be automatically cancelled at 5:01 p.m. (Toronto time) on the Conversion Date applicable to such Non-Agreeing Lender. Effective at such Conversion Date, the Syndicated Facility will, with respect to a Non-Agreeing Lender, cease to be a revolving type facility and, unless unconditionally and irrevocably repaid in accordance with Section 3.3(b)(v)(A), will become a one year non-revolving term loan facility, repayable in accordance with Section 3.6(a)(ii).
Syndicated Facility. The Issuer shall, prior to the Closing Date, use all reasonable endeavours to obtain from the lenders under the Syndicated Facility their written consent and waiver in accordance with and for the purpose of the terms of the Syndicated Facility, in a form agreed by the Investor (acting reasonably), for the Issuer and other members of the Group entering into the transactions contemplated under the Transaction Documents (including but not limited to the conversion of the Bonds into Conversion Shares), any breach of the terms of the Syndicated Facility as a result thereof and any pre-existing breach to the terms of the Syndicated Facility prior to the date of this Agreement. The Issuer shall also use all reasonable endeavours to procure that any such waiver from the lenders under the Syndicated Facility shall not be withdrawn on or prior to the Closing Date.
Syndicated Facility. Subject to the terms and conditions hereof and effective on the Amendment and Restatement Date, the Lenders hereby establish the Syndicated Facility in favour of the Borrower. Accommodations under the Syndicated Facility may be drawn down, repaid and redrawn from time-to-time by the Borrower during the Revolving Period in Canadian Dollars or the Canadian Dollar Exchange Equivalent thereof in U.S. Dollars, or any combination thereof, to a maximum of the Syndicated Facility Commitment Amount. Each Lender’s initial Individual Syndicated Facility Commitment Amount is set out in Schedule B.
Syndicated Facility. Borrowings under the Syndicated Facility shall be used for general corporate purposes of the Loan Parties relating to the Loan Parties’ Business in Canada; and
Syndicated Facility. The Syndicated Facility is a revolving credit facility and the Borrower may increase or decrease Syndicated Borrowings from each Syndicated Lender by obtaining Syndicated Accommodations and by making repayments in respect thereof; and