Examples of Credit B Lenders in a sentence
At the option of the Borrower, Term Credit B may be used by requesting US Prime Rate Advances to be made by the Term Credit B Lenders or by requesting that LIBOR Advances be made by the Term Credit B Lenders.
Similarly, notwithstanding that Advances under Credit B2 are for the time being made by BoS and its participation in Advances under Credit B1 is reduced, and the participation of the other Credit B Lenders is increased, in accordance with Section 8.2, it is the intention of the parties that the ultimate credit risk and exposure of any Credit B Lender in respect of Credit B be in accordance with its Proportionate Share of the entire amount of Credit B.
Subject to Section 8.1, Advances under Credit B1 will be made by the Credit B Lenders and Advances under Credit B2 will be made by BoS.
Accordingly, upon the Obligations becoming due and payable under Section 11.2, each Credit B Lender shall (and hereby absolutely, unconditionally and irrevocably agrees to) do all such things, including assignments to other Credit B Lenders of Advances made by Nordea under Credit B2 or assignments to Nordea of Advances made by other Credit B Lenders under Credit B1 as shall be required to ensure that result.
Upon the drawing of any Letter of Credit for which funds are on deposit in the L/C Collateral Account, such funds shall be applied to reimburse the Issuing Bank or Revolving Credit B Lenders, as applicable, to the extent permitted by applicable law.
Subject to Section 8.1, Advances under Credit B1 will be made by the Credit B Lenders and Advances under Credit B2 will be made by Nordea.
Interest and fees for Credit B1 shall be promptly distributed by the Agent to the Credit B Lenders based on their respective Applicable Percentages as adjusted in accordance with Section 8.2. Subject to Section 8.1, interest for Credit B2 shall be paid to Nordea for its own account.
Standby fees for Credit B1 shall be promptly distributed by the Agent to the Credit B Lenders based on their respective Applicable Percentages as adjusted in accordance with Section 8.2. Subject to Section 8.1, standby fees for Credit B2 shall be paid to Nordea for its own account.
Accordingly, upon the Obligations becoming due and payable under Section 11.2, each Credit B Lender shall (and hereby absolutely, unconditionally and irrevocably agrees to) do all such things, including delivery of indemnity agreements and assignments to other Credit B Lenders of Advances made by BoS under Credit B2 or assignments to BoS of Advances made by other Credit B Lenders under Credit B1 as shall be required to ensure that result.
Until then, the proceeds of the Advance shall be deposited with and held by the Agent in escrow and, without limiting the Lenders' other rights, may be set off against the Obligations relating to the Advance (and returned to the respective Term Credit B Lenders) upon any Event of Default occurring, or if the Special Distribution is not paid on the date for payment established by NSCL's board of directors.