What Is An Interim Facility Agreement

Interim credit agreements are short-term loan agreements that are set up as a “bridge” until the complete financing documentation is agreed. Nordion will supply Azedra from another facility established under the Interim Facility Agreement at the time of execution of this Agreement. This process and related methodologies should have been fully validated and used in the current interim mechanism established under the Interim Mechanism Agreement. If the sale of a target group is made through an auction, potential buyers compete to show the seller that they are ready to close the deal quickly. Financing pledged through an interim credit agreement is considered an advantage by both sellers and buyers. Interim credit agreements are often used when the sale of a target group takes place through an auction or the completion schedule is otherwise short. Typically, this competitive or compressed environment means that the time available for complete financial documentation is reduced. In addition, while “some funds” are not technically a requirement for private acquisitions, they have become a common requirement, and interim credit agreements are considered a good way to demonstrate the availability of financing (for more information on specific funds, see Use, Repayment, and Prepayment of Facilities). The Parties agree to negotiate in good faith any amendments, additions or additions to the Mandate Documents, the Interim Facility Agreement and/or the Facility Agreements requested by Liberty or Finco that are necessary to enable Liberty or, as the case may be, its subsidiary (the “Offeror”) to complete the acquisition of the Target Company`s Shares through an Offer and not under a Plan of Arrangement (the “Offer Conversion”). Sellers are happy because it gives them peace of mind that their buyer or potential buyer is able to close, and buyers get assurance that they will not violate their obligation, a certificate of ownership (also known as a certificate of title) is a specific type of title report. When lawyers are tasked with investigating the ownership of land (e.B. if land is acquired or offered as collateral), they prepare a report on their client`s title to the property specifying that the first revolving credit facility obligation of each party to the commitment will be reduced by the nominal amount of that insurer`s obligation under the Interim Facility Agreement (the “Preliminary Facility Commitment Amount”) while the interim facility is in progress.

The Company will ensure that any Member of the Group who so requests as an additional guarantor (as defined in the Interim Facility Agreement) or as a borrower or guarantor (as defined in the Governance Facility Agreement) provides the Security Officer with a Duly Completed and Signed Membership Agreement on or before becoming such a Borrower. Additional guarantor or guarantor under the Priority Mechanism Agreement or the Interim Mechanism Agreement, as the case may be. . . .