Availment definition
Examples of Availment in a sentence
Availment of a room accommodation lower than the MEMBER's Room and Board Accommodation can be done at the option of the MEMBER but there shall be no refund or offsetting for the cost difference in room accommodation and other related medical benefits.
If prior to the maturity of such Availment Option the Agent receives any funds from the Borrower or any other Person which are intended to be applied as a Repayment thereof, the Agent may retain such funds without any obligation to invest such funds or pay interest thereon, and shall apply such funds against such Availment Option on the scheduled maturity date thereof.
The Swingline CDollar Availment and Swingline USDollar Availment from time to time outstanding shall be deemed to be a Canadian Rate Loan or a US Base Rate Loan respectively.
BA Equivalent Loans and CDOR Loans may not be converted into another Availment Option prior to the maturity thereof).
If the Agent does not receive a Compliance Certificate on a date required pursuant to Section 7.04, then from and after the date such Compliance Certificate was required to have been delivered, the Applicable Margin in respect of each Availment Option shall be the highest Applicable Margin relating thereto, until the fifth Business Day following receipt by the Agent of the required Compliance Certificate.
The Borrower may convert all or any portion of the Outstanding Principal Amount under Facility A in the form of any above Availment Option into another form of Availment Option denominated in the same currency, subject to and in accordance with the terms and conditions of this Agreement (but for greater certainty, Bankers' Acceptances and BA Equivalent Loans may not be converted into another Availment Option prior to the maturity thereof).
The Borrower acknowledges that CIBC is relying upon the representations and warranties in this Article 6 in making this Financing Commitment available to the Borrower and that the representations and warranties herein shall be deemed to be restated in every respect effective on the date each and every Availment is made under this Financing Commitment.
The Borrower may utilize other forms of Availments not so affected in order to make any required repayment and after any such repayment, the Borrower may elect to re-borrow the amount repaid by way of some other Availment upon complying with applicable requirements thereof.
Any such Swingline Availment shall be made by way of a Prime Rate Advance or a US Base Rate Advance.
The Borrower may convert all or any portion of the Outstanding Principal Amount under Facility B in the form of any above Availment Option into another form of Availment Option, subject to and in accordance with the terms and conditions of this Agreement (but for greater certainty, Bankers' Acceptances and BA Equivalent Loans may not be converted into another Availment Option prior to the maturity thereof).