Borrowing Option definition
Examples of Borrowing Option in a sentence
The Grantors are entering into this Security Agreement in order to secure their obligations under and in connection with Loans made pursuant to the Secured Borrowing Option under, and as defined in, Section 2.1.2 of the Credit Agreement and to induce the Lenders to continue extending credit to the Borrower pursuant to the Secured Borrowing Option under the Credit Agreement.
The Borrowing Option shall be exercisable by DG no later than the Pricing Date by giving written notice to the relevant Shareholders.
The Borrower shall deliver the Borrowing Base Certificate to the Administrative Agent and each Lender within five (5) days of the end of each calendar month during the period in which Loans made pursuant to the Secured Borrowing Option remain outstanding.
If the Borrower requests Advances pursuant to the Secured Borrowing Option, the Applicable Margins with respect to the Loans made pursuant to such Advance shall in the case of Eurocurrency Advances be the Secured Eurocurrency Rate as provided in the Pricing Schedule until the end of the applicable Interest Period and in the case of Base Rate Advances shall be the Secured Base Rate as provided in the Pricing Schedule.
The exercise of the Borrowing Option creates a securities loan (the "Securities Loan") between the respective Shareholders and the Lead Managers for the account of the Underwriters for the number of Old Shares set forth in the second column of Schedule 2 hereof (the "Borrowed Shares").
Each Lender hereby agrees to grant the Lead Manager an option to borrow up to the number of Shares set opposite that Shareholder's name in Schedule 2 hereof (the "Borrowing Option").
In the event and on such occasion that any portion of the Aggregate Outstanding Credit Exposure attributable to Advances made pursuant to the Secured Borrowing Option exceeds the value of the Borrowing Base, the Borrower shall, within three (3) days, either prepay the Loans in an aggregate amount equal to such excess or post additional Collateral of a value equal to the amount of such excess to the account subject to the Securities Account Control Agreement.
Interest Terms Applicable To The Loans 74 2.07.1. Adjusted Base Rate 74 2.07.2. LIBOR Borrowing Option 74 2.07.3. Breakage Costs 77 2.07.4. Illegality 77 2.07.5. Termination Of Right to Elect LIBOR Borrowings 77 2.07.6. Calculation Of Interest 78 2.07.7. Default Interest 78 2.07.8. Maximum Rate Of Interest 78 2.07.9. Late Payment Charges 78 2.07.10.
In order to cover over-allotments prior to the availability of the Option Shares to the Lead Managers and the admission of such Option Shares to trading on the FSE, each Shareholder set forth in Schedule 2 hereby agrees to grant the Lead Managers the option to borrow up to the number of Old Shares set directly opposite that Shareholder's name (the "Borrowing Option").
In the event the Borrower permanently reduces the Aggregate Commitment in whole or in part pursuant to Section 2.7, any portion of such Aggregate Commitment attributable to Advances made pursuant to the Secured Borrowing Option may not be reduced below the value of the Borrowing Base for such Advances.