MC Advance definition

MC Advance means a borrowing hereunder consisting of the aggregate amount of the several MC Revolving Loans made to the Company by the Banks, or of the several MC Swingline Loans made to the Company by the applicable MC Swingline
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MC Advance means a borrowing hereunder consisting of the aggregate amount of the several MC Revolving Loans made to the Company by the Banks, or of the several MC Swingline Loans made to the Company by the applicable MC Swingline Banks, in either case of the same type (either Clearing Fund Pool Loans or Company Pool Loans), at the same time, in the same currency and having the same Loan Maturity Date.
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Examples of MC Advance in a sentence

  • If any MC Swingline Loans being requested are MC Covering Swingline Loans, the Administrative Agent shall first, use the proceeds of the MC Revolving Loans timely made available to it to fund the requested MC Advance as provided in Section 3.1(b), and second, fund the remaining portion of the requested MC Advance, if any, with the proceeds made available to it in respect of one or more MC Covering Swingline Loans, subject to Section 3.1(c).

  • Any MC Advance denominated in Euro not paid when due shall bear interest thereafter until paid in full at a rate per annum equal to the Overnight Euribor Rate plus 3.25% per annum.

  • Any MC Advance denominated in Dollars not paid when due shall bear interest thereafter until paid in full at a rate per annum equal to the Federal Funds Rate plus 3.25% per annum.

  • Any MC Advance denominated in Sterling not paid when due shall bear interest thereafter until paid in full at a rate per annum equal to the Overnight Euribor Rate plus 3.25% per annum plus (in the case of any such Loan of any Lender which is lent from a lending office in the United Kingdom or a Participating Member State) the Mandatory Cost.

  • The Banks (new or existing) shall accept an assignment from the existing Banks, and the existing Banks shall make an assignment to the new or existing Banks accepting a new or increased MC Commitment or USD Commitment (as the case may be), of a direct interest in each then outstanding MC Advance or USD Advance, as applicable, such that, after giving effect thereto, all credit exposure hereunder is held ratably by the Banks in proportion to their respective MC Commitments or USD Commitments.