Offshore Lender definition
Examples of Offshore Lender in a sentence
The making of an Offshore Loan by an Offshore Lender as set forth above shall be deemed to be the making of an Offshore Loan to the relevant Subsidiary Borrower on the date such funds are transmitted to such Offshore Administrative Agent.
In the event that Fronting Offshore Lender has given notice pursuant to this subsection 2.7C, then Sub- Agent will give notice to Administrative Agent and the requesting Borrower not later than 5:00 p.m. (London time) on the fourth Business Day prior to the requested date of such continuation that the continuation of such Offshore Currency Loans in the relevant Offshore Currency is not then available, and notice thereof also will be given promptly to Revolving Lenders.
All accrued and unpaid interest in respect of the principal amount of the Offshore Loan paid down shall not be prejudiced by the repayment and shall be due and payable to the Offshore Lender on the first interest payment date following the date of such repayment.
No later than 11:00 A.M. Local Time on the later of the Commitment Increase Date or the Business Day following the receipt of the notice from Administrative Agent described in clause (a) of the preceding sentence, each Offshore Lender which is deemed to make an Offshore Loan as described above shall make the amount of such Offshore Loan available at the applicable Offshore Base Rate to the relevant Offshore Administrative Agent, in Same Day Funds.
In the event that an Offshore Lender has failed to so notify the relevant Offshore Administrative Agent, such Offshore Lender shall be deemed not to have offered to increase its Offshore Loan Commitment.
Promptly after receipt by Administrative Agent of a Notice of Borrowing pursuant to subsection 2.1B (or telephonic notice in lieu thereof), Administrative Agent shall notify each Term Lender, Revolving Lender or Offshore Lender, as the case may be, of the proposed borrowing.
Borrowers' Agent or Offshore Borrower's notice to Administrative Agent shall designate the date (which shall be a Business Day) of such termination or reduction and the amount of any partial reduction, and such termination or reduction of the Offshore Loan Commitments shall be effective on the date specified in Borrowers' Agent or Offshore Borrower's notice and shall reduce the Offshore Loan Commitment of each Offshore Lender proportionately to its Pro Rata Share.
In the event that applicable law does not permit the one-time Registration Fee to be set-off against the outstanding principal amount of the Offshore Loan such that the Offshore Lender or its affiliate is required to make payment of the Registration Fee in cash to the Borrower or its affiliate, the Borrower shall utilize the Registration Fee in full to pay down the outstanding principal amount of the Offshore Loan.
The Borrowers shall pay to each Qualified Offshore Lender from time to time on demand its standard or otherwise reasonable processing fees, and other standard or otherwise reasonable costs and charges, of such Qualified Offshore Lender relating to the making of Qualified Offshore Loans on the terms hereunder.
If the requesting Borrower does so withdraw such Notice of Borrowing, the Offshore Currency Loan shall not be made and Sub-Agent will promptly so notify each Offshore Lender.