The Refinancing Clause Samples

The Refinancing clause outlines the terms and conditions under which an existing debt or financial obligation may be replaced with a new financing arrangement. Typically, this clause specifies the circumstances that permit refinancing, such as obtaining more favorable interest rates, extending repayment periods, or consolidating multiple debts. It may also detail the process for obtaining lender consent and any restrictions or requirements that must be met. The core function of this clause is to provide flexibility for the borrower to improve their financial position while ensuring the lender's interests are protected during any refinancing process.
The Refinancing. The Refinancing shall have been (or substantially simultaneously be) consummated, and the Borrower shall have delivered (or caused to be delivered) to Administrative Agent all payoff letters, documents or instruments reasonably necessary to release all Liens securing, and cause the termination or release of all guarantees in respect of, the Existing Credit Agreement on or before or substantially simultaneously with, the Closing Date.
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The Refinancing. (i) The Refinancing with respect to the Foothill Loan Agreement and the ▇▇▇▇▇ Fargo Loan Agreement shall have been consummated in full to the satisfaction of the Original Lenders with all liens in favor of the existing lenders being unconditionally released; the Administrative Agent shall have received a “pay off’ letter with respect to the Foothill Loan Agreement and the ▇▇▇▇▇ Fargo Loan Agreement; the Administrative Agent shall have received from any person holding any Lien securing any such debt, such UCC termination statements, mortgage releases, releases of assignments of leases and rents and other instruments, in each case in proper form for recording, as the Administrative Agent shall have reasonably requested to release and terminate of record the Liens securing such debt. (ii) Borrower shall have effected a covenant defeasance of all of the Public Debt Securities on or prior to the Closing Date in accordance with the Indenture (the “Defeasance Activities”). All of the Public Debt Securities shall have either been (a) repurchased and be no longer outstanding or (b) called for redemption (with the redemption date being the 30th day following the date of the notice of redemption) and sufficient funds for such redemption shall have been irrevocably deposited with the trustee for the Public Debt Securities in accordance with the terms of the Indenture; provided that Borrower may defer the mailing of the notice of redemption described in clause (b) with respect to Public Debt Securities outstanding on the Closing Date for one Business Day following the Closing Date. (iii) All of the Junior Preferred Stock shall have been repurchased and be no longer outstanding. All of the Senior Preferred Stock shall have either been (a) repurchased and be no longer outstanding or (b) called for redemption (with the redemption date being the 30th day following the date of the notice of redemption) in accordance with the terms of Borrower’s restated certificate of incorporation and sufficient funds for such redemption shall have been irrevocably deposited with the Paying Agent in accordance with the terms of the Paying Agent Agreement; provided that Borrower may defer the mailing of the notice of redemption described in clause (b) with respect to any Senior Preferred Stock outstanding on the Closing Date for one Business Day following the Closing Date.
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The Refinancing. Such amount of Parent Floating Rate Notes shall have been, or shall simultaneously be, purchased or redeemed such that after giving effect to the Transactions on the Closing Date no more than $25.0 million aggregate principal amount of Parent Floating Rate Notes remains outstanding (it being understood that Parent Floating Rate Notes as to which notice of redemption has been irrevocably delivered to the trustee in accordance with the indenture for the Parent Floating Rate Notes shall be deemed not outstanding). The Term B Loans and revolving loans under the Original Credit Agreement shall have been, or shall simultaneously be, repaid in full or exchanged for Term Loans or revolving loans, as the case may be, under this Agreement (including pursuant to Section 2.19). All commitments under the Original Credit Agreement shall be terminated.
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The Refinancing. 2.1 Lender's consent. ---------------- (a) The Borrower has requested and the Lender has agreed, to amend the Credit Facility in order to: (i) refinance without novation the Outstanding Principal Amount with effects as of the date hereof but subject to the provisions contained in SECTION 4 of this Agreement, and (ii) authorised the lender to use its reasonable endeavours to obtain from third parties Offers, as hereinafter defined, in order to perfect the Sale, as hereinafter defined. (b) The Borrower irrevocably acknowledges to owe the Lender under the Credit Facility the amount of USD 9,852,998 as of the date hereof (the "Outstanding Principal Amount"). It is further agreed that the Borrower is released from its obligation to pay interests accrued as of the date hereof.
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The Refinancing. Prior to or substantially concurrently with the initial credit extension on the Restatement Date, all existing Indebtedness of the Borrower and its Subsidiaries under the Existing Credit Agreement with respect to Existing Term Loans, Existing Revolving Loans and Existing Revolving Commitments, together with accrued and unpaid interest thereon, shall have been paid in full (other than with respect to (w) Existing Letters of Credit, (x) Existing Term Loans that are subject to the Cashless Rollover, (y) letters of credit, bank services or other hedging or swap obligations that will remain outstanding after the Restatement Date pursuant to arrangements reasonably acceptable to the Administrative Agent and (z) inchoate indemnification obligations and any other obligations which pursuant to their terms specifically survive repayment thereof for which no claim has been made) (the “Refinancing”).
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The Refinancing. Pursuant to (a) the Credit Agreement, dated as of March 29, 2007 (the “Replacement Credit Agreement”), among the Company, the financial institutions party thereto from time to time as lenders (the “Replacement Lenders”), Ambac Assurance Corporation, as loan insurer (the “Loan Insurer”), The Royal Bank of Scotland plc, as administrative agent (together with its successors and assigns in such capacity, the “Replacement Administrative Agent”) and issuing bank, The Bank of New York, as collateral agent (together with its successors and assigns in such capacity, the “Replacement Collateral Agent”), and the financial institutions party thereto, and (b) the other financing documents relating to the Replacement Credit Agreement (such documents together with the Replacement Credit Agreement, the “Replacement Credit Documents”), the Replacement Lenders have agreed to make loans and extend certain other credit to the Company for the purpose of refinancing its obligations under the [Credit Documents] (the “Refinancing”). The Replacement Lenders and the Company expect that the Company will refinance a portion of its obligations respecting certain tax exempt bonds issued by the City of Osceola, Arkansas (the “City”) by entering into a loan agreement (the “Bond Loan Agreement”) with the City, pursuant to which the City would provide financing for the Company with the net proceeds of one or more series of its replacement tax exempt revenue bonds (the “Replacement Bond Financing”). For purposes of this Agreement, upon the consummation of a Replacement Bond Financing, the Bond Loan Agreement and the other financing documents relating to the Replacement Bond Financing shall also be considered Replacement Credit Documents. Pursuant to the Security Agreement, dated as of March 29, 2007 (the “Replacement Security Agreement”), between the Company and the Replacement Collateral Agent, as security for the Company’s obligations under the Replacement Credit Agreement the Company has assigned all of its right, title and interest in, to and under, and granted a security interest in, among other things, the [Assigned Agreement] and all of its rights to receive payment under or with respect to such [Assigned Agreement] and all payments due and to become due to the Company under or with respect to such [Assigned Agreement], whether as contractual obligations, damages, indemnity payments or otherwise, to the Replacement Collateral Agent for the benefit of the secured parties under the Rep...
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The Refinancing 
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Related to The Refinancing

  • Refinancing Substantially concurrently with the Borrowing of 2015 Term Loans hereunder, the Refinancing shall be consummated in full to the satisfaction of the Lenders with all Liens in favor of the existing lenders being unconditionally released; the Administrative Agent shall have received a “pay-off” letter in form and substance reasonably satisfactory to the Administrative Agent with respect to all Indebtedness being refinanced in the Refinancing; and the Administrative Agent shall have received from any person holding any Lien securing any such Indebtedness, such UCC (or equivalent) termination statements, mortgage releases, releases of assignments of leases and rents, releases of security interests in Intellectual Property and other instruments, in each case in proper form for recording or filing, as the Administrative Agent shall have reasonably requested to release and terminate of record the Liens securing such Indebtedness. After giving effect to the Transactions, Irish Holdco and its Subsidiaries (including, without limitation, the Target and its Subsidiaries) shall have no outstanding preferred equity (unless owned by a direct parent thereof which is a Loan Party) or Indebtedness for borrowed money, except for Indebtedness incurred pursuant to (i) the Loan Documents, (ii) indebtedness expressly permitted to remain outstanding after the Closing Date pursuant to the Acquisition Agreement (as in effect on the date thereof), (iii) the Existing Notes, (iv) the Horizon Convertible Notes, (iv) working capital leases, capital leases and Indebtedness incurred in the ordinary course, (v) intercompany debt among Irish Holdco and its Subsidiaries, (vi) the New Horizon Unsecured Notes and (vii) such other existing indebtedness identified to, and expressly permitted to remain outstanding after the Closing Date by, the Lead Arrangers as “surviving debt” prior to the date hereof.

  • Refinancing Debt Borrowed Money that is the result of an extension, renewal or refinancing of Debt permitted under Section 10.2.1(b), (d) or (f).

  • Refinancing Facilities (a) At any time after the Closing Date, the Borrower may obtain, from any Lender or any Additional Lender (to the extent agreed to by such Lender or Additional Lender in its sole discretion), Credit Agreement Refinancing Indebtedness in respect of all or any portion of the Term Loans, Prepetition Subsidiary Debt, Revolving Credit Loans and/or Revolving Credit Commitments then outstanding under this Agreement (which will be deemed to include any then outstanding Incremental Term Loans under any Incremental Facilities or any Incremental Revolving Credit Commitments then outstanding under this Agreement (or any Revolving Credit Loans outstanding pursuant thereto)) or any then outstanding Refinancing Term Loans or any then outstanding Refinancing Revolving Credit Loans or Refinancing Revolving Credit Commitments in the form of Refinancing Revolving Credit Loans or Refinancing Revolving Credit Commitments, respectively, in each case, pursuant to a Refinancing Amendment, together with any applicable Customary Intercreditor Agreement or other customary subordination agreement; provided, that such Credit Agreement Refinancing Indebtedness (i) will, to the extent secured, rank pari passu or junior in right of payment and of security with the other Loans and Commitments hereunder (but for the avoidance of doubt, such Credit Agreement Refinancing Indebtedness may be unsecured), (ii) will, to the extent permitted by the definition of “Credit Agreement Refinancing Indebtedness,” have such pricing, interest rate margins (including “MFN” provisions), rate floors, discounts, fees, premiums and prepayment or redemption provisions and terms as may be agreed by the Borrower and the Lenders or Additional Lenders with respect thereto, (iii) will, to the extent in the form of Refinancing Revolving Credit Loans or Refinancing Revolving Credit Commitments, participate in the payment, borrowing, participation and commitment reduction provisions herein on a pro rata basis with any then outstanding Revolving Credit Loans and Revolving Credit Commitments, except that the Borrower shall be permitted to permanently repay and terminate commitments of any such Class on a better than a pro rata basis as compared to any other Class with a later maturity date than such Class and (iv) will, to the extent in the form of Refinancing Revolving Credit Loans or Refinancing Revolving Credit Commitments and unless the Required Revolving Credit Lenders shall have consented thereto, have terms and conditions (other than interest rate margins and commitment fees) identical to those applicable to the Revolving Credit Commitments and Revolving Credit Loans being refinanced. The effectiveness of any Refinancing Amendment shall be subject to, to the extent reasonably requested by the Administrative Agent (or in the case of Revolving Credit Commitments and Revolving Credit Loans, the Revolver Agent), receipt by the Administrative Agent or Revolver Agent, as applicable, of reaffirmation agreements and board resolutions, officers’ certificates and legal opinions consistent with those delivered on the Closing Date. The Administrative Agent or Revolver Agent, as applicable, shall promptly notify each Lender as to the effectiveness of each Refinancing Amendment. Each of the parties hereto hereby agrees that, upon the effectiveness of any Refinancing Amendment, this Agreement shall be deemed amended to the extent (but only to the extent) necessary to reflect the existence and terms of the Credit Agreement Refinancing Indebtedness incurred pursuant thereto (including any amendments necessary to treat the Loans and Commitments subject thereto as Refinancing Term Loans, Refinancing Revolving Credit Loans or Refinancing Revolving Credit Loan Commitments, as applicable) and any Indebtedness being replaced or refinanced with such Credit Agreement Refinancing Indebtedness shall be deemed permanently reduced and satisfied in all respects. Any Refinancing Amendment may, without the consent of any other Lenders, effect such amendments to this Agreement and the other Loan Documents as may be necessary or appropriate, to effect the provisions of this Section. (b) This Section 2.18 shall supersede any provisions of Section 10.01 to the contrary.

  • Bank Financing The Buyer’s ability to purchase the Property is contingent upon the Buyer’s ability to obtain financing under the following conditions: (check one) ☐ - Conventional Loan ☐ - FHA Loan (Attach Required Addendums) ☐ - VA Loan (Attach Required Addendums) ☐ - Other:

  • Bridge Financing The Company shall use its reasonable best efforts to take, or cause to be taken, all actions and do or cause to be done, and to assist and cooperate with the other parties in doing, all things necessary, proper or advisable to obtain no later than October 30, 2004 a commitment letter (the “Bridge Financing Commitment Letter”) expiring no earlier than January 30, 2005, from a reputable financial institution in substantially the same form and substance as Exhibit F attached hereto, to provide financing on terms and conditions no less favorable than those described on Exhibit F attached hereto.