Miscellaneous

Question 1

What 2 events are common mandatory prepayment events?

Answer 1

• Illegality (in relation to the lender)

- Change of control ownership

Question 2

What is effect of mandatory pre-payment event?

Answer 2

• Not an EoD or cross-default trigger

- Borrower must repay lender

Question 3

What percentage of the syndicate constitutes the majority lenders?

Answer 3

• 66.6% (2/3rds)

Question 4

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

Answer 4

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

Question 5

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

Answer 5

• Prepayment