Borrowing Procedure definition

Borrowing Procedure. The Term Facility will be available in a single draw on or after the date the Final Order is entered. For the avoidance of doubt, the Borrower shall not be required to draw the full amount of the Term Commitments. Borrowing requests under the DIP Facility shall be made (i) on three business days’ notice, in the case of Loans bearing interest at a rate based on LIBOR (“LIBOR Loans”) and (ii) on one business day’s notice, in the case of Loans bearing interest based on the Alternate Base Rate (“ABR Loans”). Currency: Borrowings will be made in U.S. Dollars. All payments under the DIP Facility will be made without setoff or counterclaim.
View Source
Borrowing Procedure. Under the Credit Facility. Advances shall be made as follows: (i) in the case of a Base Rate Advance, on notice from the Company to the Administrative Agent received by the Administrative Agent no later than 10:00 A.M. (Eastern time) on the date of such proposed Advance, specifying the amount thereof; and (ii) in the case of a Eurodollar Rate Advance, on notice from the Company to the Administrative Agent at least three (3) Business Days prior to the date of such proposed Advance. The Administrative Agent will use its best efforts to give telephone notice of a proposed Advance on the same day such notice is received by the Administrative Agent from the Company. Not later than 2:00 P.M. (Eastern time) on the date of such Advance and upon fulfillment of the applicable conditions set forth in Sections 7A and 7B (in the case of Advances under the Line of Credit and under the Acquisition Loan for the Acquisition) and Section 8 (in the case of each other Advance under the Line of Credit), the Lenders will make such Advance available to the Administrative Agent, which shall make such total Advance available to the Company in same day funds at the Administrative Agent's office at 100 ▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇▇. ▇he request for an Advance under the Line of Credit for any purpose other than the Acquisition shall constitute a certification by the Companies that all of the representations and warranties contained in Section 5 are true and correct as of the date of such request. Subject to the provisions of Section 9.2 hereof, the Lenders shall be obligated to fund Advances in proportion to their respective Commitments. The obligations of the Lenders under this Agreement shall be separate and
View Source

Examples of Borrowing Procedure in a sentence

  • Borrowing Procedure; Interest Rate Elections.................20 SECTION 2.04.

  • Borrowing Procedure as to Syndicated Loans...........................................

  • SECTION 1.1. Defined Terms 1 SECTION 1.2. Use of Defined Terms 8 SECTION 1.3. Cross-References 8 SECTION 1.4. Accounting and Financial Determinations 8 SECTION 2.1. Commitment 9 SECTION 2.2. Commitment of the Lenders; Termination and Reduction of Commitments 9 SECTION 2.3. Borrowing Procedure 9 SECTION 2.4. Funding 10 SECTION 3.1. Repayments 10 SECTION 3.2. Prepayment 10 SECTION 3.3. Interest Provisions.

  • Lender reserves the right to modify the foregoing Borrowing Procedure and to disburse Advances as follows: Upon the occurrence and during the continuance of a Default, at its sole discretion and option, Lender may make any and all advances under the Loan directly to the Contractor, subcontractors and suppliers.

  • THE LOANS 20 SECTION 2.1. Commitments 20 SECTION 2.2. Loans 21 SECTION 2.3. Use of Proceeds 22 SECTION 2.4. [RESERVED] 22 SECTION 2.5. Revolving Credit Borrowing Procedure 22 SECTION 2.6. Canadian Revolving Borrowing Procedure 22 SECTION 2.7. Refinancings 23 SECTION 2.8. Fees 24 SECTION 2.9. Repayment of Loans; Evidence of Debt 24 SECTION 2.10.

  • THE LOANS 14 Section 2.1. Syndicated Loans 14 Section 2.2. Making of Syndicated Loans 14 Section 2.3. Borrowing Procedure as to Syndicated Loans 15 Section 2.4. Swingline Loans 16 Section 2.5. Participations by All Lenders in Swingline Loans 17 Section 2.6. Repayment of Loans 17 Section 2.7. Certain Fees 18 Section 2.8. Interest on Loans 19 Section 2.9. Default Interest 19 Section 2.10.

  • The Credits 21 SECTION 2.01 Commitments 21 SECTION 2.02 Loans and Borrowings 21 SECTION 2.03 Borrowing Procedure 22 SECTION 2.04 Continuances and Conversions of Loans 23 SECTION 2.05 Fees 24 SECTION 2.06 Evidence of Debt; Repayment of Loans 25 SECTION 2.07 Interest on Loans 26 SECTION 2.08 Default Interest 26 SECTION 2.09 Alternate Rate of Interest 27 SECTION 2.10.

  • SECTION 1.1. Defined Terms 2 SECTION 1.2. Use of Defined Terms 14 SECTION 1.3. Cross-References 14 SECTION 1.4. Application of this Agreement to KfW IPEX as an Option A Lender 14 SECTION 1.5. Accounting and Financial Determinations 15 SECTION 2.1. Commitment 15 SECTION 2.2. Commitment of the Lenders; Termination and Reduction of Commitments 15 SECTION 2.3. Borrowing Procedure 16 SECTION 2.4. Funding 18 SECTION 3.1. Repayments 18 SECTION 3.2. Prepayment 19 SECTION 3.3. Interest Provisions.

  • The obligations of the Lenders under this clause (b) are subject to the provisions of Section 2.2(d) (Borrowing Procedure).

  • COMMITMENT 24 2.1 The Facility 24 2.2 Borrowing Procedure 24 2.3 LC Subfacility 25 2.4 Swing Line Subfacility 28 2.5 Termination 29 2.6 Optional Increase in Facility Committed Sum 30 SECTION 3.

Related to Borrowing Procedure

  • Borrowing means Loans of the same Type, made, converted or continued on the same date and, in the case of Eurodollar Loans, as to which a single Interest Period is in effect.

  • Mandatory Borrowing shall have the meaning provided in Section 2.1(d).

  • RFR Borrowing means, as to any Borrowing, the RFR Loans comprising such Borrowing.

  • Fixed Rate Borrowing means a Borrowing comprised of Fixed Rate Loans.

  • Request for Borrowing has the meaning provided in Section 2.3(a).