Additional Borrowing definition
Examples of Additional Borrowing in a sentence
The Issuer shall ensure that each Subordinated Loan Advance Notice will be received by the Subordinated Lender no later than on the second Business Day prior to the relevant Additional Borrowing Date.
The Issuer shall ensure that each Subordinated Loan Advance Notice will be received by the Subordinated Lender no later than on the second Business Day prior to the relevant Additional Borrowing Date or the relevant Renewal Date.
The provisions of this Indenture, and the rights and duties of the Company, the Servicer and the Trustee hereunder, shall at all times, anything else herein to the contrary notwithstanding, be subject to the terms and provisions of the Additional Borrowing.
The provisions of Section 3.10 of the Credit Agreement shall apply to each Additional Borrowing Base Determination in all respects.
For certainty, the Additional Borrowing Base Determinations shall not constitute a Borrowing Base Determination pursuant to Section 3.10(b)(i) of the Credit Agreement.
The Administrative Agent shall deposit into the Current Account (i) Additional Borrowing Amounts pursuant to Section 4.2(b)(ii) and (ii) amounts on deposit in the Revenue Account as specified in Section 8.12(a).
The obligation of the Subordinated Lender to make available to the Issuer any Subordinated Loan Increase Amount on an Additional Borrowing Date is subject to the conditions precedent set out in clauses 2.2(a)(ii), 2.2(a)(iv), 2.2(b) and 2.2(c), provided that reference therein to the Borrowing Date shall be read as reference to the relevant Additional Borrowing Date or the relevant Renewal Date, as applicable.
In order to request an Additional Borrowing, the Borrowers shall notify each Additional Lender by telephone of its intent to request an Additional Borrowing and shall hand deliver or telecopy to each Additional Lender a duly completed Borrowing Certificate not later than 11:00 a.m., New York City time, at least seven (7) Business Days before a proposed Additional Borrowing.
Each Additional Borrowing shall be deemed to constitute a representation and warranty by each Borrower on the Additional Borrowing Date as to the matters specified in Sections 5.2 and 5.5.
Notwithstanding the foregoing, the obligations of the Lenders to make the Additional Borrowing hereunder shall not become effective unless each of the foregoing conditions is satisfied (or waived) at or prior to 2:00 p.m., Houston time, on June , 2013 (and, in the event such conditions are not so satisfied or waived, this First Amendment shall terminate at such time).