Deemed Borrowing definition

Deemed Borrowing has the meaning set forth in Section 2.04.
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Deemed Borrowing a Revolving Credit Loan deemed to have been requested by a Borrower in connection with the charging of an Obligation (including, without limitation, interest, principal, fees or other amounts owed by the Borrowers hereunder) to an account of the Borrowers by the Administrative Agent pursuant Section 3.7 hereof.
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Deemed Borrowing means a permitted withdrawal from or application of funds or other property standing to the credit of a Class A-1R Prepayment Account to any Permitted Use.
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Examples of Deemed Borrowing in a sentence

  • If such appraisal is not completed by the Post-Closing Appraisal Deadline, then the Deemed Borrowing Base Inventory Component shall be zero until such appraisal is completed.

  • If such field examination is not completed by the Post-Closing Field Exam Deadline, then the Deemed Borrowing Base Accounts Component shall be zero until such field examination is completed.

  • Subject to the provisions hereof expressly permitting the Administrative Agent to adjust Reserves, the Canadian Borrowing Base at any time (including, for the avoidance of doubt, during the Deemed Borrowing Base Period) shall be determined by reference to the most recent Borrowing Base Certificate delivered to the Administrative Agent pursuant to Section 5.01(e) (or, prior to the first such delivery, delivered to the Administrative Agent pursuant to Section 4.01(r)).

  • For the avoidance of doubt, delivery by a Lender to the Administrative Agent of a Lender’s Notice shall not preclude the Administrative Agent from making Agent’s Advances for the account of such Lender in respect of any Deemed Borrowings or relieve any such Lender from its obligation to make its Term Loan Commitment Percentage or Revolving Credit Commitment Percentage of each Deemed Borrowing available to the Administrative Agent as provided in this paragraph.

  • Notwithstanding anything contained herein to the contrary, during the Deemed Borrowing Base Period, no Loan Party shall be permitted to make any Restricted Payment pursuant to clauses (b) through (e) above without the prior written consent of the Agent (which may be by email).

  • Notwithstanding the foregoing or anything to the contrary in this Agreement, if the Initial Collateral Examinations are not completed and delivered to Agent prior to the Closing Date (a) the Borrowing Base shall be deemed to be the Deemed Borrowing Base during the Deemed Borrowing Base Period, and (b) unless and until the Initial Collateral Examinations are completed and delivered to Agent, the Borrowing Base shall be deemed to equal $0 after the end of the Deemed Borrowing Base Period.

  • Such Notice of Deemed Borrowing shall be irrevocable and shall specify: (a) the principal amount of the proposed Loan, and (b) the proposed borrowing date, which must be a Business Day, and must be the Closing Date.

  • Notwithstanding anything to the contrary herein, the Borrowers and their respective Subsidiaries will not make any additional Investments after the Second Amendment Effective Date until the Deemed Borrowing Base Termination Date has occurred, except as permitted by Section 7.10(d) and Section 7.10(j).

  • Notwithstanding anything contained herein to the contrary, during the Deemed Borrowing Base Period, no Loan Party shall be permitted to make any Permitted Dispositions pursuant to clauses (b), (j), (k) or (l) of the definition of “Permitted Dispositions” without the prior written consent of the Agent (which may be by email).

  • The Borrower hereby waives the right to dispute the Lender’s record of the terms of any such telephonic Notice of Deemed Borrowing.