Examples of Credit B Loan in a sentence
Each such notice shall specify (i) the principal amount of the Revolving Credit Loan requested and whether such request is for a Revolving Credit A Loan or a Revolving Credit B Loan, (ii) the proposed Drawdown Date of such Revolving Credit Loan, (iii) the Interest Period for such Revolving Credit Loan, and (iv) the Type of such Revolving Credit Loan.
Each request for a Revolving Credit B Loan hereunder shall constitute a representation and warranty by the Borrower that the conditions set forth in Section 11 and Section 12, in the case of the initial Revolving Credit B Loans to be made on the Closing Date, and Section 12, in the case of all other Revolving Credit B Loans, have been satisfied on the date of such request.
The Borrower promises to pay on the Revolving Credit B Loan Maturity Date, and there shall become absolutely due and payable on the Revolving Credit B Loan Maturity Date, all of the Revolving Credit B Loans outstanding on such date, together with any and all accrued and unpaid interest thereon.
If Banks holding at least 75% of the Revolver B Commitments consent to the extension by so notifying the Administrative Agent in writing 30 Business Days prior to the Initial Maturity Date (the "Extension Date"), the Revolving Credit B Loan Maturity Date shall be extended for 364 days from the Extension Date in respect of the Revolver B Commitments of such consenting Banks.
Prior to the initial Advance under this Agreement, Borrower shall, under the Existing Agreement, have terminated the Line of Credit B Loan Commitments in whole in accordance with the terms of Section 2.3(c) of the Existing Agreement (giving effect to the waiver of the five day advance notice requirement set forth in Section 10.36 of this Agreement).
The Company may, provided that no Default or Event of Default has occurred and is continuing, by written notice to the Administrative Agent given not more than ninety (90) days nor less than sixty (60) days prior to the Revolving Credit B Loan Maturity Date in effect at any time (the "Initial Maturity Date") request that the Revolving Credit B Loan Maturity Date be extended to the date which is 364 days after the Initial Maturity Date.
The Borrower irrevocably authorizes each Bank to make or cause to be made, at or about the time of the Drawdown Date of any Revolving Credit B Loan or at the time of receipt of any payment of principal on such Bank's Revolving Credit B Note, an appropriate notation on such Bank's Revolving Credit B Note Record reflecting the making of such Revolving Credit B Loan or (as the case may be) the receipt of such payment.
We understand that this request is irrevocable and binding on us and obligates us to accept the requested Revolving Credit B Loan on such date.
Each Revolving Credit B Loan to the Borrowers shall be denominated in Dollars.
In view of the foregoing, we conclude that fees received by Parent for its guarantee would not be subject to the section 4371 excise tax.