Deposit Percentage definition
Examples of Deposit Percentage in a sentence
Thereafter, the Deposits shall be available, on the terms and subject to the conditions set forth herein, (A) to fund Deposit Loans by such Lender pursuant to Section 2.01(b) and (B) for application pursuant to Section 2.04(e) to reimburse such Lender’s Deposit Percentage of LC Disbursements in respect of Deposit Letters of Credit that are not reimbursed by the applicable Borrower.
Thereafter, the Deposits shall be available, on the terms and subject to the conditions set forth herein, (A) to fund Deposit Loans by such Lender pursuant to Section 2.01(c) and (B) for application pursuant to Section 2.04(e) to reimburse such Lender’s Deposit Percentage of LC Disbursements in respect of Deposit Letters of Credit that are not reimbursed by the applicable Borrower.
Upon the deposit of the Synthetic A Deposits into the Synthetic Account, each Synthetic Lender making a Synthetic A Deposit shall be deemed to have irrevocably purchased from the existing Synthetic Lenders, to the extent of its Synthetic Deposit Percentage (calculated after giving effect to the making of the Synthetic A Deposits), a participation interest in each outstanding Synthetic Letter of Credit, including any contingent liability or Synthetic Letter of Credit Participation Obligation.
By the making of a Synthetic Revolving Loan, and without any further action on the part of the Administrative Agent or the Lenders, the Administrative Agent hereby grants to each Lender on whose behalf the Administrative Agent has made a Synthetic Revolving Loan, and each such Lender hereby acquires from the Administrative Agent, a participation in such Synthetic Revolving Loan equal to such Lender’s Synthetic Revolving Deposit Percentage of such Synthetic Revolving Loan.
Thereafter, the Synthetic Deposits shall be available, on the terms and subject to the conditions set forth herein, for application pursuant to Section 2.16(d)(i), to reimburse such Lender’s Synthetic Deposit Percentage of Disbursements that are not reimbursed by EnergySolutions.
Upon telephonic notice to the Administrative Agent, the Borrower may elect that amounts so withdrawn be deemed Credit-Linked Deposit Loans made on such date by each such Credit-Linked Deposit Lender in an amount equal to its Credit-Linked Deposit Percentage of the amount of such withdrawal; provided that at the time of such election the conditions to borrowing set forth in Section 4.02 shall have been met with respect to any such Credit-Linked Deposit Loan.
Thereafter, such Synthetic Deposits, together with all Synthetic Deposits previously deposited in the Synthetic Deposit Account, shall be available, on the terms and subject to the conditions set forth in the Credit Agreement, for application pursuant to Section 2.16(d)(i), to reimburse such Lender’s Synthetic Deposit Percentage of Disbursements that are not reimbursed by EnergySolutions.
If the Borrower fails to make such payment when due, the Agent shall notify each Deposit Lender of the applicable LC Disbursement, the payment then due from the Borrower in respect thereof and such Lender’s Deposit Percentage thereof.
If the value of the Deposit Inventory, as determined on a quarterly basis by Sourcefire, decreases such that the amount of the Deposit exceeds an amount equal to the Deposit Percentage multiplied by the actual cost of the Deposit Inventory, then Patriot must return to Sourcefire such excess amount of the Deposit to maintain the Deposit Percentage.
If the Deposit Inventory, as determined on a quarterly basis by Sourcefire, increases then it shall be in the sole discretion of Sourcefire whether to deposit additional amounts with Patriot to maintain the Deposit Percentage.