Borrowing Sublimit definition
Examples of Borrowing Sublimit in a sentence
Within the limits of such Lender's Available Commitment and the Borrowing Sublimit, the Borrower may request Advances hereunder, repay or prepay Advances and utilize the resulting increase in the Available Commitments for further Advances in accordance with the terms hereof.
For purposes of this Section, the “Proportionate Share” of a Subsidiary Borrower means at any time a percentage determined by dividing the Borrowing Sublimit of such Subsidiary Borrower in effect at such time by the dollar amount of the Aggregate Commitments at such time.
Subject to the foregoing, any reduction of the Commitments by an amount in excess of the Borrowing Sublimit shall result in a reduction of the L/C Commitment Amount to the extent of such excess.
In no event shall the Borrower be entitled to request or receive any Advance that would cause the total principal amount of all Outstanding Credits to exceed the Total Commitment, or that would cause the aggregate principal amount of all Advances outstanding to or requested by the Borrower to exceed the Borrowing Sublimit.
If at any time, the aggregate principal amount of Advances outstanding to the Borrower shall exceed the Borrowing Sublimit, the Borrower shall forthwith prepay Advances in a principal amount equal to such excess.
If on any date the sum of the aggregate principal amount of Revolving Credit Advances outstanding on such date exceeds the Borrowing Sublimit on such date, the Borrower shall, within three Business Days thereafter, prepay Revolving Credit Advances in an aggregate principal amount sufficient to reduce the sum of the Revolving Credit Advances outstanding on such date to be less than or equal to the Borrowing Sublimit on such date.
Any Commitment Increase shall not increase the Borrowing Sublimit.
By: Name: Title: [Consented to and Accepted: ▇▇▇▇▇ FARGO BANK, NATIONAL ASSOCIATION, as Administrative Agent By: Name: Title: ]11 11 To be included for any proposed increase in or reinstatement of any Designated Borrower Maximum Borrowing Sublimit.
Each Rollover Loan shall (i) be evidenced by and subject to repayment under a Borrowing Affiliate Note, (ii) be subject to all conditions to lending otherwise applicable to a Borrowing Affiliate Note, (iii) reduce the Attributable Borrowing Sublimit for the relevant Borrowing Affiliate, and (iv) otherwise be treated as an Attributable Borrowing; provided, that the Company shall not be required to deliver an Invoice in connection with any Rollover Loan.
If, on any Computation Date, the sum of the Dollar Equivalent Revolving Facility Usage by the Foreign Borrowers (excluding, for the purposes of this sentence, the Canadian Borrower) is greater than the Foreign Borrower Borrowing Sublimit as a result of a change in exchange rates between one (1) or more Optional Currencies and Dollars, then the Administrative Agent shall notify the Borrowers of the same.