Examples of Requested Loan in a sentence
Immediately upon funding of the Requested Loan, the aggregate principal amount of all Loans then outstanding will be $__________________.
The undersigned is faxing this Borrowing Notice to you (i) if the Requested Loan is a Prime Loan, by 12:00 noon (NYC time) on the “Disbursement Date” (as specified below) and (ii) if the Requested Loan is a Libor Loan, by 12:00 noon (NYC time) at least three Banking Days prior to the Disbursement Date.
Prior to 11:00 A.M., New York City time, on the Closing Date, the Lender shall make a loan (the “Loan”) to the Borrower by making available to the Borrower by wire transfer immediately available funds in an amount equal to the Requested Loan Amount as set forth in the Loan Request in accordance with the wiring instructions set forth therein; provided, that the terms and conditions for the Loan set forth herein have been satisfied by 11:00 A.M. New York time on the Closing Date.
Please book the Requested Loan as follows: Disbursement Date: _________________ ___, 20___ Amount: $ Type: ____ LIBOR ____ Prime LIBOR Period (if applicable): ____ 1 month ____ 2 months ____ 3 months Disbursement Instructions: The proceeds of the Requested Loan shall be used for working capital purposes.
On any Interest Payment Date, where the Outstanding Principal is greater than U.S.$ [redacted], then the Borrowers shall prepay interest and fees on all outstanding Loans in accordance with the foregoing provisions, as if a Borrower had requested a further Requested Loan, and the foregoing provisions shall apply to all outstanding Loans on such Interest Payment Date, mutatis mutandis.
Solely for the purpose of this subparagraph, Canadian Prime Rate Loans and U.S. Base Rate Loans which are either Requested Loans or are currently outstanding Loans will be treated as if they were Libor Loans with an Interest Period of one month and with an interest rate equal to the Canadian Prime Rate or U.S. Base Rate, as applicable, on the Requested Loan Advance Date.
Please notify _____________ of the Company when the Bank has received a confirmation number for the wiring of the proceeds of the Requested Loan.
The Borrower has satisfied all of the preconditions to the making of the Requested Loan set forth in the Agreement and the Loan Documents.
Any other Transfer or attempted Transfer (whether by operation of Applicable Law or otherwise) shall be null and void.
The Borrower hereby requests that a Revolving Loan be made in the aggregate principal amount of $________ on ___________, 19__ (the "Requested Loan Date") as a [Base Rate Loan] [Eurodollar Rate Loan having an Interest Period of _____ months].