Mandatory Revolving Borrowing definition

Mandatory Revolving Borrowing means a Revolving Borrowing comprised of Adjusted Base Rate Advances or Eurocurrency Rate Advances made to repay a Swingline Advance as provided in Section 2.1(b) or to reimburse an Issuing Lender for unpaid Reimbursement Obligations as provided in Section 2.13(d).
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Mandatory Revolving Borrowing means a Revolving Borrowing comprised of Prime Rate Advances made to repay a Swingline Advance which has not been repaid to SG on the date due.
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Mandatory Revolving Borrowing means a Revolving Borrowing comprised of ----------------------------- Base Rate Advances made to repay a Swingline Advance which has not been repaid to the Swingline Lender on the date due.
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Examples of Mandatory Revolving Borrowing in a sentence

  • The Borrower shall repay the outstanding principal amount of each Revolving Advance on the Maturity Date and, for each Mandatory Revolving Borrowing made on or after the Maturity Date, on demand, and in any event, in the Designated Currency in which each such Advance was funded.

  • The Borrower shall repay the outstanding principal amount of each Revolving Advance on each Maturity Date and, for each Mandatory Revolving Borrowing made on or after the latest Maturity Date, on demand, and in any event, in the Designated Currency in which each such Advance was funded.

  • Each Borrowing (other than a Mandatory Revolving Borrowing) shall be made pursuant to a Notice of Borrowing, given not later than (i) in the case of a Borrowing comprised of Eurodollar Advances, 11:00 a.m. (New York time) on the third Business Day before the Borrowing Date of a requested Borrowing and (ii) in the case of a Borrowing comprised of Base Rate Advances, 11:00 a.m. (New York time) on the Business Day of a requested Borrowing, in each case to the Administrative Agent's Applicable Lending Office.


More Definitions of Mandatory Revolving Borrowing

Mandatory Revolving Borrowing means a Primary Borrowing comprised of Primary Prime Rate Advances or Eurocurrency Rate Advances made to repay a Swingline Advance which has not been repaid to the applicable Swingline Lender on or before the date when due.
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Mandatory Revolving Borrowing means a Revolving Borrowing comprised of Adjusted Base Rate Advances, Adjusted Daily Simple RFR Advances or Eurocurrency Rate Advances made to repay a Swingline Advance as provided in Section 2.1(b) or to reimburse an Issuing Lender for unpaid Reimbursement Obligations as provided in Section 2.13(d).
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Mandatory Revolving Borrowing means a Borrowing of Revolving Loans to be effected on the Business Day immediately preceding the Specified Repayment Date in an aggregate principal amount that would result in the aggregate principal amount of all Revolving Loans outstanding (after giving effect to such Borrowing) equaling $224 million, it being understood that, if the aggregate outstanding principal amount of the Revolving Loans at the opening of business on the Business Day immediately preceding the Specified Repayment Date would otherwise equal or exceed $224 million, no Mandatory Revolving Borrowing will be required; and (iv) "Structured Issuance" shall mean an issuance of Specified Additional Secured Debt wherein (I) the Specified Additional Secured Debt is not directly guaranteed by any of the Subsidiary Guarantors and is not directly secured by any of the Collateral (other than certain Collateral held directly by the Borrower) but is secured by a pledge of and security interest in the SI Intercompany Notes (as defined below), which are secured by the SI Intercompany Notes Collateral (as defined below); (II) some or all of the Subsidiary Guarantors (in such capacity, each an "SI Borrowing Subsidiary") will each issue to the Borrower a promissory note (collectively, "SI Intercompany Notes") in the stated principal amount initially equal to 14/75th of the aggregate principal amount of the Specified Additional Secured Debt and secured by all the Collateral held by such SI Borrowing Subsidiary (collectively, the "SI Intercompany Notes Collateral") and with all the SI Borrowing Subsidiaries to enter into a Contribution Agreement (the "SI Contribution Agreement") that will grant each SI Borrowing Subsidiary a right of contribution against all remaining SI Borrowing Subsidiaries in respect of amounts paid by it under its SI Intercompany Note, provided that the aggregate amounts payable by any SI Borrowing Subsidiary under its SI Intercompany Note and the SI Contribution Agreement, plus any amounts shared with the Noteholders (as defined below) under the Structured Issuance Intercreditor Agreement referred to below to the extent attributable to such SI Borrowing Subsidiary, shall not exceed $140 million; (III) the Administrative Agent, on behalf of the Lenders, and the trustee (the "Trustee") under the indenture governing the Specified Additional Secured Debt (the "Indenture") enter into an intercreditor agreement (the "Structured Issuance Intercreditor Agreement") which provides that the L...
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Mandatory Revolving Borrowing means a Revolving Credit Borrowing comprised of Prime Rate Tranche made to repay a Swingline Advance.
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Related to Mandatory Revolving Borrowing

  • Revolving Borrowing means a Borrowing comprised of Revolving Loans.

  • Initial Revolving Borrowing means one or more borrowings of Dollar Revolving Credit Loans or issuances or deemed issuances of Letters of Credit on the Closing Date in an amount not to exceed the aggregate amounts specified or referred to in the definition of “Permitted Initial Revolving Borrowing Purposes.”

  • Mandatory Borrowing shall have the meaning provided in Section 2.1(d).

  • Eurocurrency Revolving Facility Borrowing means a Borrowing comprised of Eurocurrency Revolving Loans.

  • Notice of Revolving Borrowing shall have the meaning as set forth in Section 2.3.

  • ABR Revolving Facility Borrowing means a Borrowing comprised of ABR Revolving Loans.

  • Refunding Borrowing means a Committed Borrowing which, after application of the proceeds thereof, results in no net increase in the outstanding principal amount of Committed Loans made by any Bank.

  • RFR Borrowing means, as to any Borrowing, the RFR Loans comprising such Borrowing.

  • Revolving Facility Borrowing means a Borrowing comprised of Revolving Facility Loans.

  • SOFR Borrowing means, as to any Borrowing, the SOFR Loans comprising such Borrowing.

  • L/C Borrowing means an extension of credit resulting from a drawing under any Letter of Credit which has not been reimbursed on the date when made or refinanced as a Revolving Credit Borrowing.

  • Term A Borrowing means a borrowing consisting of simultaneous Term A Advances of the same Type made by the Term A Lenders.

  • Term SOFR Borrowing means, as to any Borrowing, the Term SOFR Loans comprising such Borrowing.

  • Revolving Loan Borrowing means a borrowing of a Revolving Loan.

  • Term B Borrowing means any Borrowing comprised of Term B Loans.

  • Term Borrowing means a borrowing consisting of Term Loans of the same Type and the same Class and, in the case of Eurodollar Rate Loans, having the same Interest Period made by each of the Term Lenders of the applicable Class under this Agreement.

  • ABR Revolving Loan means any Revolving Facility Loan bearing interest at a rate determined by reference to the ABR in accordance with the provisions of Article II.

  • Term Loan Borrowing means a borrowing consisting of Term Loans made on the same day by the Term Loan Lenders ratably according to their respective Term Loan Commitments.

  • Canadian Borrowing means a borrowing consisting of simultaneous Canadian Loans of the same Type and, in the case of BA Equivalent Loans or LIBO Loans, having the same Interest Period made by each of the Canadian Lenders pursuant to Section 2.3.

  • Notice of Revolving Credit Borrowing has the meaning specified in Section 2.02(a).

  • Base Rate Borrowing means a Borrowing comprised of Base Rate Loans.

  • Eurodollar Revolving Loan means any Revolving Loan bearing interest at a rate determined by reference to the Adjusted LIBOR Rate in accordance with the provisions of Article II.

  • Swingline Borrowing means a Borrowing comprised of Swingline Loans.

  • Eurocurrency Borrowing means a Borrowing comprised of Eurocurrency Loans.

  • LIBOR Borrowing means a Borrowing comprised of LIBOR Loans.

  • Revolving Loan has the meaning specified in Section 2.01(a).