Ratable Loans definition

Ratable Loans means Ratable Dollar Loans and Ratable Committed Currency Loans.
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Ratable Loans. (as defined in the Existing Credit Agreement) of each of the Banks as existing immediately prior to the Closing Date, shall be reallocated among the Banks so that the Revolving Loan Commitments are held by the Banks as set forth on Schedule 1 attached hereto. To effect such reallocations, each Bank who either had no “Loan Commitment” (as defined in the Existing Credit Agreement) prior to the effectiveness of this Agreement or whose Revolving Loan Commitment upon the effectiveness of this Agreement exceeds its “Loan Commitment” (as defined in the Existing Credit Agreement) immediately prior to the effectiveness of this Agreement (each an “Assignee Bank”) shall be deemed to have purchased all right, title and interest in, and all obligations in respect of, the Revolving Loan Commitments from the Banks whose Revolving Loan Commitments upon the effectiveness of this Agreement are less than their respective “Loan Commitment” (as defined in the Existing Loan Agreement) immediately prior to the effectiveness of this Agreement (each an “Assignor Bank”), so that the Revolving Loan Commitments of the Banks will be held by the Banks as set forth on Schedule 1. Such purchases shall be deemed to have been effected by way of, and subject to the terms and conditions of, Assignment and Assumption Agreements without the payment of any related assignment fee, and, except for Revolving Notes to be provided to the Assignor Banks and Assignee Banks
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Examples of Ratable Loans in a sentence

  • In the event that Borrower fails to Elect to have any portion of an advance of the Ratable Loans be LIBOR Loans, the entire amount of such advance shall constitute Base Rate Loans.

  • The Ratable Loans may be outstanding as: (1) Base Rate Loans; (2) LIBOR Loans; or (3) a combination of the foregoing, as Borrower shall elect and notify Administrative Agent in accordance with Section 2.14.

  • In the event that Borrower fails to Elect to have any portion of an advance of the Ratable Loans be LIBOR Loans, the portion of such advance for which a LIBOR Loan Election is not made shall constitute Base Rate Loans.

  • With respect to the Ratable Loans as a whole, each Election and each Conversion shall be in an amount at least equal to One Million Dollars ($1,000,000) and in integral multiples of One Hundred Thousand Dollars ($100,000) or such lesser amount as shall be available or outstanding, as the case may be.

  • Except to the extent otherwise provided, (1) each advance of proceeds of the Ratable Loans shall be made by the Banks, (2) each reduction of the amount of the Total Loan Commitment under Section 2.16 shall be applied to the Loan Commitments of the Banks and (3) each payment of the facility fee accruing under Section 2.08 shall be made for the account of the Banks, ratably according to the amounts of their respective Loan Commitments.

  • Each Bank is hereby authorized by Borrower to endorse on the schedule attached to the Ratable Loan Note held by it, the amount of each advance, and each payment of principal received by such Bank for the account of its Applicable Lending Office(s) on account of its Ratable Loans, which endorsement shall, in the absence of manifest error, be conclusive as to the outstanding balance of the Ratable Loans made by such Bank.

  • With respect to the Ratable Loans as a whole, each Election and each Conversion shall be in an amount at least equal to $1,000,000 and in integral multiples of $500,000.

  • The Ratable Loans may be outstanding as (1) Base Rate Loans; (2) LIBOR Loans; or (3) a combination of the foregoing, as Borrower shall elect and notify Administrative Agent in accordance with Section 2.14.

  • If, as a result of any such adjustment to the amount of Revolving Credit Ratable Loans owing to any Lender, any payment of all or a portion of any Eurodollar Loan owing to any such Lender occurs on a day which is not the last day of the applicable Interest Period, Borrower shall pay to Administrative Agent for the benefit of the affected Lenders any loss or cost incurred by such Lenders resulting therefrom in accordance with Section 3.6.

  • No additional Note shall be required to evidence Ratable Loans and/or Competitive Bid Loans or portions thereof made by a Designated Lender; and the Designating Lender shall be deemed to hold its Note, if any, as agent for its Designated Lender to the extent of the Ratable Loans and/or Competitive Bid Loans or portion thereof funded by such Designated Lender.