AND
(III)
THE OBLIGORS MUST, ON REQUEST FROM THE AGENT FROM TIME TO TIME (ACTING
ON THE INSTRUCTIONS OF THE MAJORITY LENDERS), AGAIN USE REASONABLE COMMERCIAL
ENDEAVOURS TO OBTAIN THAT SECURITY CONSENT AND PERFECT THE SECURITY OVER THAT
RELEVANT ASSET, AND MUST RESPOND PROMPTLY TO REQUESTS BY THE AGENT FOR
INFORMATION CONCERNING PROGRESS IN THAT REGARD TOGETHER WITH DETAILS OF THE
REASONABLE ENDEAVOURS UNDERTAKEN TO OBTAIN THE SECURITY CONSENTS.
(D)
IN THIS CLAUSE, CLAUSE 24.20 (MINING TENEMENTS; AFTER-ACQUIRED PROPERTY;
FURTHER ASSURANCES REGARDING SECURED PROPERTY) AND PART II OF SCHEDULE 2
(CONDITIONS PRECEDENT),
"SECURITY CONSENT" MEANS A CONSENT OR PERMISSION FROM A
GOVERNMENTAL AGENCY, A LANDLORD, A LESSOR OR ANOTHER PERSON (NOT BEING A GROUP
MEMBER), WITHOUT WHICH AN OBLIGOR MAY NOT GIVE OR PERFECT THE SECURITY OVER AN
ASSET THAT IS CONTEMPLATED BY A TRANSACTION SECURITY DOCUMENT WITHOUT
CONTRAVENING A LAW OR BREACHING A CONTRACT, OR WITHOUT WHICH ANY SUCH SECURITY
WOULD BE INEFFECTIVE OR INVALID.
"RELEVANT ASSET" MEANS THE ASSET CONTEMPLATED
BY A TRANSACTION SECURITY DOCUMENT IN RESPECT OF WHICH A SECURITY CONSENT IS
REQUIRED.
TO AVOID DOUBT, IT IS ACKNOWLEDGED THAT, IN USING REASONABLE
COMMERCIAL ENDEAVOURS TO OBTAIN A SECURITY CONSENT, NO OBLIGOR WILL BE REQUIRED
TO PAY ANY FEE OR PAY ANY OTHER CONSIDERATION OR AGREE TO ANY COMMERCIAL CHANGE
THAT WOULD BE DETRIMENTAL TO ANY OBLIGOR.
4.6
US EXCLUDED PROPERTY
(A)
DESPITE ANYTHING TO THE CONTRARY IN THE FINANCE DOCUMENTS, NOTHING IN THE
FINANCE DOCUMENTS OBLIGES THE OBLIGORS TO PROVIDE TO THE SECURITY TRUSTEE OR ANY
OTHER FINANCE PARTY ANY SECURITY OVER ANY US EXCLUDED PROPERTY, OR MAKES THE
GIVING OF ANY SUCH SECURITY A CONDITION TO THE PROVISION OF FINANCIAL
ACCOMMODATION UNDER THE FINANCE DOCUMENTS.
(B)
IF ANY US EXCLUDED PROPERTY IS AFFECTED BY ANY TRANSACTION SECURITY, THE
SECURITY TRUSTEE MUST DO ALL THINGS REASONABLY REQUESTED BY THE PARENT TO
RELEASE THAT PROPERTY FROM THAT TRANSACTION SECURITY.
64
4.7
GROUP RESTRUCTURE
The Finance Parties consent to the restructure of the Group described in the
document set out in Schedule 11 (Restructure - Steps Paper)
by 31 October
2018.
65
SECTION 3
UTILISATION
5.
UTILISATION - LOANS
5.1
UTILISING FACILITY A AND FACILITY C
(A)
A BORROWER MAY UTILISE A FACILITY BY DELIVERY TO THE AGENT OF A DULY
COMPLETED UTILISATION REQUEST NOT LATER THAN THE SPECIFIED TIME.
(B)
THIS CLAUSE 5 DOES NOT APPLY TO UTILISATIONS BY WAY OF BANK GUARANTEES,
IN RESPECT OF WHICH, CLAUSE 6 (UTILISATION
- BANK GUARANTEES) APPLIES.
5.2
COMPLETION OF A UTILISATION REQUEST FOR LOANS
(A)
EACH UTILISATION REQUEST FOR A LOAN IS IRREVOCABLE AND WILL NOT BE
REGARDED AS HAVING BEEN DULY COMPLETED UNLESS:
(I)
IT IDENTIFIES WHETHER THE LOAN IS REQUESTED UNDER FACILITY A OR FACILITY
C;
(II)
THE PROPOSED UTILISATION DATE IS A BUSINESS DAY WITHIN THE AVAILABILITY
PERIOD APPLICABLE TO THAT FACILITY;
(III)
THE CURRENCY AND AMOUNT OF THE UTILISATION COMPLY WITH CLAUSE 5.3
(CURRENCY AND AMOUNT);
(IV)
THE PROPOSED INTEREST PERIOD COMPLIES WITH CLAUSE 11 (INTEREST PERIODS);
(V)
IT IS SIGNED BY AN