Borrowers definition
Examples of Borrowers in a sentence
The Administrative Agent shall notify the Borrowers and each Lender of the Lenders’ responses to each request made hereunder.
If such notice is given by the Borrowers, the Borrowers shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein.
Unless otherwise expressly agreed by the applicable L/C Issuer and the Borrowers when a Letter of Credit is issued (including any such agreement applicable to an Existing Letter of Credit), (i) the rules of the ISP shall apply to each standby Letter of Credit, and (ii) the rules of the UCP shall apply to each commercial sight Letter of Credit.
Each Lender shall notify the Administrative Agent within such time period whether or not it agrees to reallocate a portion of its Revolver Commitment, WC Interim Commitment or WC Commitment, as the case may be as requested by the Borrowers to the other Facility or Facilities as requested by the Borrower and, if so, whether it is agreeing to reallocate its pro rata share of the portion so requested by the Borrower or a greater or lesser amount (and if it is a greater or lesser amount, such amount).
To the extent the Borrowers have the right to make such election, the reversal shall become effective on the fifth (5th) Business Day after receiving such reversal notice from the Borrowers, and upon such election the applicable Revolving Commitments, WC Interim Commitments and WC Commitments, as applicable shall be restored as if such Reallocation Effective Date had not occurred.