Proceeds from the rights offering have been used to repay the amount PolyMet is indebted to Glencore AG under certain debentures, to pay the standby fee
owed to Glencore as well as the expenses of the rights offering.
The company intends to make available the proceeds of the Rights Offering for: the repayment of the amount that PolyMet is indebted to Glencore which, as at March 31, 2019, is the principal amount of $165M plus accrued interest of approximately$77.8 M plus additional interest which continues to accrue; the payment of the Standby Fee
in full; and payment of expenses of the Rights Offering.
Is that a standby fee
in case wee Willie is asked to pull on the boots next season?
Customers will be able to stand by for alternate flights without incurring the standby fee
if a satisfactory alternate itinerary cannot be confirmed.
This standby fee
can increase by up to 900% the time it takes to pay back the purchase price of the equipment.
Delta Air Lines has introduced a USD25 standby fee
for passengers who want to be placed on a different flight within three hours of its departure.
The standby fee
was originally proposed in an attempt to encourage travellers to avoid restrictive low-fare tickets.
Recently bankrupted carrier, United Airlines has announced plans to eliminate an unpopular USD100 standby fee
. The move - scheduled to take effect next month - is expected to force other airlines to remove their standby fees
The company's credit facility shall mature on 1 August 2015 and bear interest at a rate of 15% per annum on all drawn advances alongside a standby fee
of 3.5% per annum with respect to the undrawn portion of the facility accruing daily and paid monthly in arrears.
Customers of ECS will pay a low monthly standby fee
and then only pay for service when or if they actually need it, and more importantly, the service is available when they really need it.