Examples of U.S. Borrowers in a sentence
U.S. Borrowers have delivered to Agent a complete copy, including all amendments, consents, waivers and supplements, of each Material CNH Industrial Agreement.
The U.S. Borrowers may reduce the U.S. Floorplan Commitments, without premium or penalty, to an amount (which may be zero) not less than the sum of (A) the U.S. Floorplan Usage as of such date, plus (B) the principal amount of all U.S. Floorplan Loans not yet made as to which a request has been given by U.S. Borrowers under Section 2.3(a), plus (C) the amount of all Letters of Credit not yet issued as to which a request has been given by U.S. Borrowers pursuant to Section 2.11(a).
Upon receipt of such notice, (I) U.S. Borrowers may revoke any pending request for a Borrowing, conversion or continuation of U.S. SOFR Rate Loans (to the extent of the affected U.S. SOFR Rate Loans or Interest Periods) or, failing that, will be deemed to have converted such request into a request for U.S. Base Rate Loans, and (II) any outstanding U.S. SOFR Rate Loans shall convert to U.S. Base Rate Loans at the end of their respective Interest Periods.
If, at any time, (A) the U.S. Floorplan Usage on such date exceeds (B) the U.S. Floorplan Borrowing Base reflected in the U.S. Floorplan Borrowing Base Certificate most recently delivered by U.S. Borrowers to Agent, then U.S. Borrowers shall immediately prepay the U.S. Obligations in accordance with Section 2.4(f) in an aggregate amount equal to the amount of such excess.
On the last day of each applicable Interest Period, unless U.S. Borrowers and Australian Borrowers have properly exercised the SOFR Option or the Bill Rate Option, as with respect thereto, the interest rate applicable to such U.S. SOFR Rate Loan or Australian Bill Rate Loan, as applicable, automatically shall convert to the rate of interest then applicable to U.S. Base Rate Loans or Australian Base Rate Loans, as applicable of the same type hereunder.