First Required Additional Contribution Date definition
Examples of First Required Additional Contribution Date in a sentence
If the Issuing Lender has not received the officer’s certificate of the Borrower described in the immediately preceding sentence and the Issuing Lender has delivered an Acceleration Notice before March 1, 2012, then the Facility Maturity Date shall be accelerated to April 1, 2013 effective on the First Required Additional Contribution Date and shall remain effective until the Letter of Credit is terminated pursuant to the terms of this Agreement.
The First Required Additional Contribution shall have been paid by or on behalf of PLC to the Borrower at least forty (40) calendar days prior to the First Required Additional Contribution Date and, if applicable, the Second Required Additional Contribution shall have been paid by or on behalf of PLC to the Borrower at least forty (40) calendar days prior to the Second Required Additional Contribution Date.
Any such extension of the Facility Maturity Date shall automatically become effective on the First Required Additional Contribution Date, unless the Reinsurance Trustee has received a Non-Extension Notice from the Issuing Lender before March 1, 2012, and shall remain effective until the Facility Maturity Date is further extended or the Letter of Credit is terminated pursuant to the terms of this Agreement.