Deemed Loans Sample Clauses
Deemed Loans. Notwithstanding any provision contained herein to the contrary, and in addition to, and not in limitation of, any of the other rights or remedies of the Agent and the Lenders set forth herein, at the option and direction of Required Lenders, Agent, in order to facilitate timely payment hereunder of all Obligations in respect of (I) payments of interest due on any Loans, (II) payments of principal due on the Term Loans, (III) payments of cash, fees, expenses and other Obligations due and payable by Borrowers to the Loan Parties hereunder or under any of the other Loan Documents and (IV) payments by Agent of any amount due and payable under any Depositary Account Agreement or any other agreement entered into by any Lender Party in connection with this Agreement (including, without limitation, any amount resulting from the return, dishonor or other non-payment of items deposited with the Agent or any Depository bank by or on behalf of Borrowers), then, whether or not there is sufficient Borrowing Base availability, Borrowers shall be deemed automatically to have made a request for, and upon such payment by the Lenders shall be deemed to have made, a Base Rate Revolving Loan, in the full amount of such payment. Borrowers acknowledge that such Revolving Loan may cause a Borrower to exceed Borrower's Borrowing Base, in which event Borrowers shall be obligated to immediately make a prepayment pursuant to Section 6.2.2.
Deemed Loans. (a) Notwithstanding any provision contained herein to the contrary, if at any time or from time to time the balance in the Master Account is less than $10,000, Borrower shall, if the Requisite Lenders so elect, be deemed to have given the notice required by Section 2.3 (and to have made all of the representations set forth in a Borrowing Certificate) of a proposed borrowing equal to the lesser of (i) the amount (which shall be $5,000 or an integral multiple thereof) necessary to increase such balance to at least $300,000, but not more than $305,000 and (ii) the remaining availability under the Commitments, and, in the event of such election, each Lender shall lend to Borrower its Pro Rata Share of such amount, the proceeds of which shall be deposited by such Lender in the Master Account. Such Loan shall be a Revolving Loan bearing interest at the rate described in Section 4.1(a) to the extent of unused availability of the Revolving Loan Commitment and, if the availability under the Revolving Loan Commitment is not sufficient to make such Loan in its full principal amount, it shall be, to the extent of such insufficiency, a Working Capital Loan bearing interest at the rate described in Section 4.2(a) to the extent of availability of the Working Capital Commitment and, if the availability under the Working Capital Commitment is not sufficient to make such Loan in its full principal amount, it shall be, to the extent of such insufficiency, a Capital Expenditure Loan bearing interest at the rate described in Section 4.4(a) to the extent of availability of the Capital Expenditure Loan Commitment.
(b) Notwithstanding any provision contained herein to the contrary, and in addition to, and not in limitation of, any of the other rights or remedies of Lender Parties set forth herein, including, without limitation, pursuant to Section 7.4, at the sole option of the Requisite Lenders, in order to facilitate timely payment hereunder of all Liabilities in respect of (i) payments of principal and interest due on any Loans or Reimbursement Obligations, (ii) payments of cash, fees and expenses due and payable by Borrower to any Lender Party or under any of the Related Documents and (iii) payments by any Lender Party of any amount due and payable under the Bank Agency Agreement or any other agreement entered into by Collateral Agent and Agent Bank in connection with this Agreement (including, without limitation, any amount resulting from the return, dishonor or other non-pa...
Deemed Loans. Subject to the terms and conditions set forth herein, on the Restatement Effective Date, each Lender that held a “Loan” under and as defined in the Existing Credit Agreement will be deemed to be a Lender and to have advanced a Loan under this Section 2.01. Subject to the terms and conditions set forth herein, each Lender severally agrees to make deemed Loans to the Borrower, solely in the circumstances set forth in Section 2.02(c)(i) hereof, in an aggregate amount not to exceed at any time outstanding the amount of such Lender’s Commitment.
Deemed Loans. 37 8.4 Due Date Extension.................................................................................37 8.5 Setoff.............................................................................................37 8.6
Deemed Loans. The Banks shall, from time to time during the Availability Period, if the Borrower fails to reimburse any L/C Disbursement when required by the provisions of 2.05(f), be deemed to have made a Dollar denominated Loan to the Borrower in the aggregate principal amount of the unreimbursed L/C Disbursement. In the case of a ▇▇▇▇▇▇▇ Letter of Credit, the amount of such corresponding Loan shall equal the unreimbursed L/C Disbursement measured in Euros not reimbursed by the Borrower multiplied by the Fixed Exchange Rate.
Deemed Loans. 6.11.1 If the Borrower fails to provide cash cover in respect of an Extended Letter of Credit when due in accordance with Clause 6.10 (Cash cover in respect of an Extended Letter of Credit) the Borrower shall be deemed to have issued a Utilisation Request for a Loan in the amount required to achieve full cash cover in respect of that Extended Letter of Credit on the date upon which the cash cover should have been made in accordance with Clause 6.
10.1. The Utilisation Date for such a proposed Loan shall be the date on which the cash cover should have been made by the Borrower in accordance with Clause 6.
10.1. The Interest Period for such a Loan shall be determined by the Facility Agent.
6.11.2 If a deemed Loan is made in accordance with Clause 6.11.1, the proceeds of that deemed Loan shall be held by the Fronting Bank as cash cover for the applicable Extended Letter of Credit.
Deemed Loans. 46 SECTION 7.6 Application of Proceeds...............................46
Deemed Loans. 46 SECTION 7.6 APPLICATION OF PROCEEDS. . . . . . . . . . . . . . . . . . . . 47
Deemed Loans. (a) In this Clause Rollover Amount means, in respect of a Lender and each currency in which any Loan to be advanced on the first Utilisation Date is denominated, the lesser of:
(i) the amount (if any) to be paid in that currency, on the first Utilisation Date, to that Lender as an Existing Facility Lender by way of repayment of principal amounts owing under the Existing Facility; and
(ii) the participation share of that Lender in any Loan(s) in that currency to be advanced on the first Utilisation Date.
(b) This Clause applies only if the Agent and the Existing Agent are the same person on the first Utilisation Date. The Existing Agent, and any member of the Group which is a party to the Existing Facility, may rely on this Clause.
(c) If, on the first Utilisation Date, any Lender is also an Existing Facility Lender then, unless that Lender notifies the Agent to the contrary no later than the Banking Day immediately prior to the first Utilisation Date:
(i) that Lender, in its capacity as an Existing Facility Lender, directs the Existing Agent to pay any Rollover Amounts directly to the Agent;
(ii) the amount which that Lender is obliged to pay in any currency to the Agent under Clause 6.4 (Lenders’ participation) will be reduced by the Rollover Amounts in that currency; and
(iii) the Agent will make the Rollover Amounts available to the relevant Borrowers notwithstanding the operation of sub-paragraph (ii) above.
(d) Each Lender acknowledges that to the extent this Clause 6.5 (Deemed Loans) applies, it is not entitled to receive repayment of any Rollover Amounts as an Existing Facility Lender.
(e) This Clause does not apply to Letters of Credit.