We are referring to the ease agreement. Unless defined to the contrary, the defined terms used in this letter have the meaning given to them in the facility agreement. The APA should also be reviewed to determine whether the APA authorizes (or at least does not prohibit or authorize by means of general authority) sponsors who deposit deposits into a particular bank account on which the lender receives security interest under the credit contract. Letters to both may specify that details that go beyond what is provided for in the APA are included when sending communications to investors or indicate a very specific format to which these notices must be followed. Requirements that include drawdown notifications include specific breakdowns of investments, and/or specific confirmations from the general partner/manager are also often seen. Some letters of record go even further and require that notices of revocation be signed by certain signatories of the compleporator or manager who have previously provided standard signatures to the investor or investors concerned. The final criteria, and probably the most important, are consideration (a form of payment). Consideration should not take a monetary form and can only be a mutual advantage (or disadvantage). As a general rule, a letter is used to clarify the details of the contract and, therefore, the need for consideration is satisfied, since there is a benefit to both parties. In the absence of a benefit or payment, a letter can only become legally binding if it is carried out as an act, which means, among other things, that it is an act and that the signatures of the parties must be secured. This question arises when the letter restricts the investor`s ability to send letters (if it is an investor mail transaction), confirmations of commitments or investor finances (for example.
B, publicly available financial data). We refer to the Facility Agreement of December 21, 2018 (the «Easy Agreement») and the agreement between (i) Unicorn Moon Pte. Ltd. and Unicorn Sun Pte. Ltd. as borrowers and several borrowers and hedge guarantors (the «borrowers»), (ii) Grindrod Shipping Holdings Pte. Ltd. as the parent guarantee (the «mother guarantee guarantor»), (iii) NIBC Bank N.V. as arranger, iv) financial institutions covered in Part B of Schedule 1 as lenders (the «lenders»), (vii) the financial institutions listed in Part B of Schedule 1, as hedge counterparties; (viii) NIBC Bank N.V. as a Facility Agent and (ix) NIBC Bank N.V. as a security officer for a $29,900,000 facility to finance the cost of vessels currently held by borrowers.