Bank's Facility definition

Bank's Facility. A Commitment shall have the meaning ascribed thereto in Section 3.1(a). Bank's Facility B Commitment shall have the meaning ascribed thereto in Section 3.1(b). Borrowers' Obligations shall mean any and all indebtedness (principal, interest, fees and other amounts), liabilities and obligations of any of the Borrowers to Bank evidenced by or arising under the Note, this Agreement, the Security Agreements, the Letter of Credit Applications, any of the other Transaction Documents or any other agreement, document or instrument heretofore, now or hereafter executed and delivered by any of the Borrowers to Bank, in each case whether now existing or hereafter arising, absolute or contingent, joint and/or several, secured or unsecured, direct or indirect, expressed or implied in law, contractual or tortious, liquidated or unliquidated, at law or in equity, or otherwise, and whether created directly or acquired by Bank by assignment or otherwise, and any and all costs of collection and/or Attorneys' Fees incurred or to be incurred in connection therewith. Borrowing Base shall have the meaning ascribed thereto in Section 3.1(c). Borrowing Base Certificate shall have the meaning ascribed thereto in Section 3.1(d). Borrowing Notice shall have the meaning ascribed thereto in Section 3.2. Business Day shall mean any day except a Saturday, Sunday or legal holiday observed by Bank. Capital Expenditure shall mean any expenditure which, in accordance with Generally Accepted Accounting Principles consistently applied, is or should be capitalized on the balance sheet of the Person making the same. Capitalized Lease shall mean any lease which, in accordance with Generally Accepted Accounting Principles consistently applied, is or should be capitalized on the balance sheet of the lessee. Code shall mean the Internal Revenue Code of 1986, as amended, and any successor statute of similar import, together with the regulations thereunder, in each case as in effect from time to time. References to sections of the Code shall be construed to also refer to any successor sections. Collateral shall mean any Property or assets of any of the Borrowers which now or at any time hereafter secure the payment or performance of any of Borrowers' Obligations. Commitment Fee shall have the meaning ascribed thereto in Section 3.9. Consolidated EBITDA shall mean the sum of Agri-Nutrition's and its Consolidated Subsidiaries net income (excluding any gains or losses from asset sales or other extraordin...

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.

Related to Bank's Facility

  • Revolving Facilities means, collectively, the Canadian Revolving Facility and the U.S. Revolving Facility.

  • Revolver Facility means the credit facility as described in and subject to the limitations set forth in Section 2.01.

  • Facility means any real property (including all buildings, fixtures or other improvements located thereon) now, hereafter or heretofore owned, leased, operated or used by Holdings or any of its Subsidiaries or any of their respective predecessors or Affiliates.

  • Swingline Facility means the swingline facility established pursuant to Section 2.2.

  • Overdraft Facility or ‘Facility’ means an authorised debit balance that may be offered to you at our discretion from time to time allowing your Account to go overdrawn up to an agreed Overdraft Limit.