Base Loan definition
Examples of Base Loan in a sentence
Interest on each Alternate Base Loan shall be payable on each Interest Payment Date applicable thereto.
Interest on each Alternate Base Loan and Eurodollar Loan shall be computed based on the number of days elapsed in a year of 360 days.
No Borrowing Base Loan Party shall, directly or indirectly enter into or allow to exist any Restricted Transaction without the written consent Administrative Agent other than those set forth on Schedule 6.17.
Each Borrowing Base Loan Party shall deliver, or cause to be delivered, to Collateral Agent a Control Agreement duly authorized, executed and delivered by each bank where a Blocked Account for the benefit of any Borrowing Base Loan Party is maintained, and, except as provided in Section 9.01(d), by each bank where any other deposit account of a Borrowing Base Loan Party is from time to time maintained.
Attached hereto as Schedule 3.24 is a schedule of all Deposit Accounts and Securities Accounts maintained by the Ultimate Parent, the Borrower and the Borrowing Base Loan Parties as of the Closing Date.
With respect to any Borrowing Base Loan Party, enter into any material line of business, except for those lines of business in which such Borrowing Base Loan Party is engaged on the Closing Date or that are reasonably related thereto or are reasonable extensions thereof.
The Ultimate Parent, Borrower and each Borrowing Base Loan Party shall ensure that all payments made to it are made directly to a Controlled Account and shall deposit any cash or Cash Equivalents that it otherwise has or receives from time to time into a Controlled Account.
In the event of any such determination, any request by the Company for a Eurodollar Loan that is a Committed Loan shall, until the circumstances giving rise to such notice no longer exist, be deemed to be a request for an Alternate Base Loan.
Each Borrowing Base Loan Party shall further execute and deliver such agreements and documents as Administrative Agent may reasonably require in connection with such Blocked Accounts and such Control Agreements.
The terms and conditions of the Loan are more particularly set forth in that certain Amended and Restated Revolving Line of Credit Loan Agreement (Borrowing Base Loan) dated as of September 16, 2004, by and between Borrower and Lender (as the same has been and may be further amended from time to time, “Loan Agreement”).