Availment Option definition

Availment Option means a method of borrowing which is available to the Borrower as provided herein.
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Examples of Availment Option in a sentence

  • 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.

  • Notwithstanding the foregoing, if for any reason a Bankers' Acceptance or BA Equivalent Loans is repaid or converted to another Availment Option prior to the scheduled maturity date thereof (whether as a result of acceleration or otherwise), the Borrower agrees to pay to the Agent upon demand all losses, damages, costs and expenses which the Agent or any Lender incurs as a result of such Repayment or Conversion prior to the said scheduled maturity date.

  • If prior to the maturity of such Availment Option the Agent receives any funds from a 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 Borrower may also at any time request the Conversion of all or any part of the Outstanding Advances under an Availment Option other than Fixed-Rate Term Loans (but in the case of Bankers' Acceptances and BA Equivalent Note Loans, only upon the maturity thereof) to Fixed-Rate Term Loans in the same manner.

  • 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 DOCPROPERTY "CUS_DocIDChunk0" NATDOCS\70776052\V-4 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 Borrower agrees that the Lenders shall have the right to comply with any such requirements and, if the Agent determines it to be necessary as a result of such requirement, the Agent may convert any Euribor Loan to any other Availment Option at the sole discretion of the Agent, or require immediate repayment of all Euribor Loans, including accrued interest thereon.

  • The Borrower may convert Outstanding Advances under the Acquisition Credit Facility in the form of any of the above Availment Options into another form of Availment Option, subject to and in accordance with the terms and conditions of this Agreement.

Related to Availment Option

  • Over-Allotment Option means the option of the Underwriters to purchase up to an additional 15 per cent of the firm units (as described in the Articles) issued in the IPO at a price equal to US$10 per unit, less underwriting discounts and commissions.

  • Nonstatutory Stock Option means an Option not intended to qualify as an Incentive Stock Option.

  • Nonqualified Stock Option means an Option that is not an Incentive Stock Option.

  • Stock Option means a contractual right granted to an Eligible Person under Section 6 hereof to purchase shares of Common Stock at such time and price, and subject to such conditions, as are set forth in the Plan and the applicable Award Agreement.