Bank's Facility definition
Examples of Bank's Facility in a sentence
The Commercial Banks Facility Agent may be removed at any time (i) by the Required Banks for such Person’s gross negligence or willful misconduct or (ii) by the Borrower, with the consent of the Required Banks, for such Person’s gross negligence or willful misconduct.
Funds received after 12:00 noon, New York City time, shall be deemed to have been received by the Commercial Banks Facility Agent on the next succeeding Business Day.
As soon as practicable but in no event later than thirty (30) days after any payment of Taxes by the Borrower to a Government Authority pursuant to this Section 4.06, the Borrower shall deliver to the Commercial Banks Facility Agent the original or a certified copy of a receipt issued by such Government Authority evidencing such payment, a copy of the return reporting such payment or other evidence of such payment reasonably satisfactory to the Commercial Banks Facility Agent.
The Borrower shall pay to the Commercial Banks Facility Agent for the benefit of the applicable Commercial Bank Lender the amount due and payable and set forth on any such certificate within thirty (30) days after receipt thereof.
The Commercial Banks Facility Agent also may rely upon any statement made to it orally or by telephone and believed by it to have been made by the proper Person, and shall not incur any liability for relying thereon.
The Commercial Banks Facility Agent may consult with legal counsel (who may be counsel for the Borrower), independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts.
The Commercial Banks Facility Agent shall give prompt notice to each Commercial Bank Lender of receipt of each notice or request required or permitted to be given to the Commercial Banks Facility Agent by the Borrower pursuant to the terms of this Agreement or any other Financing Document (unless concurrently delivered to the Commercial Bank Lenders by the Borrower).
Commercial Bank Loans and Commercial Banks Facility Commitments are made, treated, assigned and referred to in Tranches for certain limited purposes under this Agreement.
If the Eligible Assignee is not a Commercial Bank Lender prior to such assignment, it shall deliver to the Commercial Banks Facility Agent an administrative questionnaire and all documentation and other information required by bank regulatory authorities under applicable “know your customer” requirements.
After the retirement or removal of the Commercial Banks Facility Agent hereunder and under the other Financing Documents, the provisions of this ARTICLE IX and Section 10.08 (Indemnification by the Borrower) shall continue in effect for the benefit of such retiring (or removed) Person, its sub-agents and their respective Related Parties in respect of any actions taken or omitted to be taken by any of them while the retiring Person was acting in its capacity as Commercial Banks Facility Agent.