Miscellaneous Flashcards

1
Q

What 2 events are common mandatory prepayment events?

A
  • Illegality (in relation to the lender)

- Change of control ownership

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2
Q

What is effect of mandatory pre-payment event?

A
  • Not an EoD or cross-default trigger

- Borrower must repay lender

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3
Q

What percentage of the syndicate constitutes the majority lenders?

A
  • 66.6% (2/3rds)
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4
Q

What is the effect of a change of lender on the tax gross up and increased costs clauses?

A
  • Borrower not required to gross up or increase payments under clause 24.2(f)
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5
Q

What option does the borrower have upon the use of tax gross up/increased costs?

A
  • Prepayment
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