Print Page  |  Close Window

SEC Filings

BRISTOW GROUP INC filed this Form 8-K on 04/23/2018
Entire Document
 << Previous Page | Next Page >>



  (i) any increase or decrease in the Applicable Margin for a Loan shall take effect on the date (the “reset date”) which is the first Business Day of the first month of each Financial Quarter (or, if paragraph (ii) below applies, the first Business Day of the calendar month following the calendar month in which the relevant Aggregate Borrowing Base Certificate is received), by reference to the relevant Aggregate Borrowing Base Certificates; and


  (ii) in the event that the Agent is not able to calculate the Applicable Margin on the first Business Day of any month as a result of the Borrowers failing to provide an Aggregate Borrowing Base Certificate at the applicable time, then if required by the Agent (acting on the instructions of the Majority Lenders) the Applicable Margin for each Loan shall be the highest percentage per annum set out in the table above for the relevant Loan until the first day of the calendar month following the calendar month in which the relevant Aggregate Borrowing Base Certificate is received;

“Applicable Non-Governmental Percentage” means 30 percent until the date falling six Months after the date of this Agreement and thereafter 20 percent;

“Applicable Percentage” means, with respect to any Lender, a percentage equal to a fraction the numerator of which is such Lender’s Revolving Facility Commitment and the denominator of which is the Total Commitments (provided that, if the Revolving Facility Commitments have terminated or expired, the Applicable Percentage shall be determined based upon such Lender’s share of the Aggregate Revolving Exposure at that time), provided that so long as any Lender is a Defaulting Lender, such Defaulting Lender’s Revolving Facility Commitment shall be disregarded in the calculations above;

“Assignment Agreement” means an agreement substantially in the form set out in Schedule 5 (Form of Assignment Agreement) or any other form agreed between the relevant assignor and assignee;

“Audit Laws” means the EU Regulation (537/2014) on specific requirements regarding statutory audit of public-interest entities and repealing Commission Decision 2005/909/EC and the EU Directive (2014/56/EU) amending Directive 2006/43/EC on statutory audits of annual accounts and consolidated accounts and any law or regulation which implements that EU Directive (2014/56/EU);

“Authorisation” means an authorisation, consent, approval, resolution, licence, exemption, filing, notarisation or registration;

“Availability” means, with respect to each Borrower, at any time, an amount equal to:


  (a) the lesser of (i) the Total Commitments minus the Availability Block attributable to that Borrower and (ii) the Borrowing Base of such Borrower; minus



the Aggregate Revolving Exposure relating to such Borrower, provided that, in relation to any proposed Utilisation, any Loans that are due to be repaid by that Borrower at the end of their Interest Period (in accordance with Clause 10.1(a) (Repayment of Loans and Letters of Credit)) and any Letters of Credit the Term of which are due to expire (or in relation to which the Issuing Bank



 << Previous Page | Next Page >>