First Utilisation Date definition

First Utilisation Date means the date on which the first Utilisation is made under this Agreement.

First Utilisation Date means the date, on which the first Utilisation under the Agreement actually occurs, not to be later than 28 February 2012.

First Utilisation Date means the date on which the first Loan under the Facility is made by the Lenders to the Borrower.

Examples of First Utilisation Date in a sentence

• Save as described in Clause 19 (Security), as from the First Utilisation Date, no Security Interest exists over all or any of the present or future revenues or assets of such Obligor relating to assets being the subject of the Security Documents and all of the Obligors’ rights, title and interest are freely assignable and chargeable in the manner contemplated by the Security Documents.

• Any Obligor suspends or ceases to carry on (or threatens to suspend or cease to carry on) all or a material part of its business which it undertakes at the First Utilisation Date.

• The Borrower shall repay the Loan made to it by consecutive quarterly repayments as set out in Schedule 5 (Repayments and Reductions) and the first repayment shall occur 3 months from the First Utilisation Date.

• Each member of the Group (other than a Dormant Subsidiary or a Restricted Subsidiary) is or will be an Obligor on the First Utilisation Date.

• K-sure Premium The Borrowers shall be responsible and shall bear the cost of the K-sure premium of each K-sure Insurance Policy and shall pay to the Agent (for the account of K-sure) the K-Sure Premium prior to the First Utilisation Date.

More Definitions of First Utilisation Date

First Utilisation Date means the date of the first Utilisation of Facility A, being the date on which the first Facility A Loan is to be made.

First Utilisation Date means the date on which the first Loan is made under this Facility Agreement.

First Utilisation Date means the date on which the first Loan under the Facility is made by the Lenders to the Borrower. Foreign Transferee Subsidiary means any direct or indirect wholly owned Subsidiary of the Parent:

First Utilisation Date means the date at which a Borrower makes the first Utilisation of the Facility. “Funding Rate” means any individual rate notified by a Lender to the Agent pursuant to paragraph a)(ii) of Clause 11.2 (Cost of funds). “Group” means the Parent and its Subsidiaries from time to time. “Guarantee Obligations” means the obligations of the Guarantors pursuant to Clause 18 (Guarantee and Indemnity). “Guarantor” means the Borrowers, the Original Intra-Group Charterers and any Additional Guarantors on a joint and several basis, subject to Clause 18 (Guarantee and Indemnity). “Hedge Counterparties” means the Original Hedge Counterparty and any other Lender which becomes party to a Hedging Agreement. “Hedging Agreement” means any master agreement, schedule, confirmation or other document entered into (none as of the original date of this Agreement) or to be entered into by any of the Borrowers and a Hedge Counterparty on ISDA standard terms or similar terms, for the purpose of hedging interest rate liabilities or other risks in relation to the Facility on a non-speculative basis and designated as a “Finance Document” by the Borrower and the relevant Hedge Counterparty and notified to the Agent. “Holding Company” means, in relation to a company, exempted company or corporation, any other company or corporation in respect of which it is a Subsidiary. “IFRS” means international accounting standards within the meaning of IAS Regulation 1606/2002 to the extent applicable to the relevant financial statements. “Impaired Agent” means the Agent at any time when:

First Utilisation Date means the first date on which a Project Facility Loan is made.

First Utilisation Date means the first Utilisation Date. FSA means the UK Financial Services Authority and any body which from time to time replaces such authority or body.

First Utilisation Date means the first Utilisation Date in respect of the Facility.