Examples of Liquidity Loans in a sentence
The Notes will be covered in accordance with the CBA and will rank pari passu among themselves and with all other Series of Notes issued by the Issuer under the Programme and with Derivative Transactions and Bankruptcy Liquidity Loans and with any N-Bonds issued in respect of the statutory security in accordance with the CBA.
All computations of interest and fees hereunder and under each Liquidity Loan Note shall be made on the basis of the actual number of days elapsed over a year of 360 (or with respect to the computation of interest on Prime Rate Liquidity Loans, 365 or 366, as the case may be) days.
No recourse shall be had for the payment of any amount owing in respect of Liquidity Loans or for the payment of any fee hereunder or any other obligation or claim arising out of or based upon this Agreement, the Liquidity Loan Notes, the Depositary Agreement, the Security Agreement, or any other Transaction Document against any member, employee, officer, director or incorporator of BAFC.
If any Liquidity Bank, whether by setoff or otherwise, has payment made to it upon its Liquidity Loans (other than payments received pursuant to Sections 4.03(c)(ii), 4.05, 4.06 or 11.04) in a greater proportion than that received by any other Liquidity Bank, such Liquidity Bank agrees, promptly upon demand, to purchase a portion of the Liquidity Loans held by the other Liquidity Banks so that after such purchase each Liquidity Bank will hold its ratable proportion of Liquidity Loans.
The full amount of each payment made to the Administrative Agent under any confirming letter of credit issued on behalf of any Liquidity Bank pursuant to the terms hereof, shall be applied to such Liquidity Bank’s obligation to make the Liquidity Loans in respect of which such drawing is made to the same extent as if the amount thereof had been paid directly to the Administrative Agent by such Liquidity Bank.