Extract to table

TMC is required to establish and maintain financial assurance in the aggregate amount of $245

9 million on a nominal basis, as summarized below: It is against this backdrop — an already-substantial financial commitment by TMC to resolve its environmental liabilities — that the government's proposed stipulated penalty structure must be evaluated

0 million syndicated revolving credit facility with Harborstone National Bank (as administrative agent) includes an environmental liability covenant providing that TMC's aggregate environmental liabilities shall not exceed 25% of consolidated net tangible assets ("CNTA")

Under this arrangement, TMC is required to maintain a designated escrow account funded at specified levels, from which EPA may draw to satisfy stipulated penalty assessments

If TMC invokes the dispute-resolution process within the thirty-day payment period, the payment obligation shall be stayed until the dispute is resolved

(as escrow agent under the Escrow Agreement for Stipulated Penalty Deposits) shall not be drawn upon by the government until any dispute regarding the applicable penalties has been fully resolved through the dispute-resolution mechanism