Credit 2 definition
Examples of Credit 2 in a sentence
Any such reduction of the Revolving Credit 1 Commitments or Revolving Credit 2 Commitments, as applicable, shall be in an amount equal to $5,000,000, or a whole multiple thereof (or, if less, shall reduce the Revolving Credit 1 Commitments or the Revolving Credit 2 Commitments, as applicable, to zero), and shall reduce permanently the Revolving Credit 1 Commitments and/or the Revolving Credit 2 Commitments, as applicable, then in effect.
Each payment by the Borrower on account of the Revolving 1 Commitment Fee or Revolving 2 Commitment Fee shall be made pro rata according to the respective Revolving Credit 1 Percentages or Revolving Credit 2 Percentages, as the case may be, of the relevant Lenders.
Each borrowing by the Borrower from the Revolving Credit 2 Lenders hereunder shall be made pro rata according to the Revolving Credit 2 Percentages of the Revolving Credit 2 Lenders.
All Advances under Credit 2 shall be made solely by RBC and records concerning Advances shall be maintained solely by RBC, but RBC shall provide information concerning such Advances to the Agent from time to time upon request.
Each reduction of the Revolving Credit 1 Commitments or Revolving Credit 2 Commitments (other than pursuant to Section 10.6(g)) shall be made pro rata according to the respective Revolving Credit 1 Percentages or Revolving Credit 2 Percentages, as the case may be, of the relevant Lenders.
If the positions or net positions are credits in favour of the Borrower, the credits will be deemed to be repayments of Prime Rate Advances (in the case of Canadian Dollars) or Base Rate Advances (in the case of US Dollars) under Credit 2 in the respective amounts of the credits.
All payments of principal, interest, fees and other amounts relating to Credit 2 shall be made solely to RBC.
If any such notice is given, the amount specified in such notice shall be due and payable on the date specified therein, together with (except in the case of Revolving Credit 1 Loans or Revolving Credit 2 Loans (unless all Revolving Credit 1 Loans or Revolving Credit 2 Loans, as applicable, are being repaid and the Revolving Credit 1 Commitments or Revolving Credit 2 Commitments, as applicable, terminated) that are Base Rate Loans and Swing Line Loans) accrued interest to such date on the amount prepaid.
The Revolving Credit 2 Loans may from time to time be Eurodollar Loans or Base Rate Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 2.5 and 2.13, provided that no Revolving Credit 2 Loan shall be made as a Eurodollar Loan after the day that is one month prior to the Scheduled Revolving Credit 2 Termination Date.
Partial prepayments of Revolving Credit 1 Loans, Revolving Credit 2 Loans and Term Loans, in each case, shall be in an aggregate principal amount of $5,000,000 or a whole multiple thereof.