Revolver Lender definition
Examples of Revolver Lender in a sentence
From time to time after cash is deposited in the Cash Collateral Accounts, Administrative Agent may apply Cash Collateral then held in the Cash Collateral Accounts to the payment of any amounts, in such order as Administrative Agent may elect, as shall be due and payable by Borrowers to Administrative Agent or any Initial Revolver Lender with respect to the LC Outstandings that may be then outstanding.
In no event shall Administrative Agent or any other Revolver Lender have any liability or obligation to any or all Borrowers or any Subsidiary for any failure or refusal by any Bank to issue, for any Bank’s delay in issuing, or for any error of any Bank in issuing any Letter of Credit.
Upon any such assignment by the Applicable Settlement Lender to any other Initial Revolver Lender of a participation in a Reported Settlement Loan, the Applicable Settlement Lender represents and warrants to such other Initial Revolver Lender that it is the legal and beneficial owner of such interest being assigned by it, but makes no other representation or warranty and assumes no responsibility with respect to such Reported Settlement Loan, the Loan Documents or the Borrowers.
For the avoidance of doubt, each Initial Revolver Lender (other than the Participating Pounds Lenders) shall be required to fund its Pro Rata share of all Pounds Sterling Revolver Loans in Pounds Sterling.
Administrative Agent, Borrower Representative and each Lender hereby further agree that, notwithstanding anything to the contrary contained in this Agreement, all Settlement Loans shall bear interest at a rate as agreed to between the Applicable Settlement Lender and Borrower Representative, and not as a Base Rate Loan or a ▇▇▇▇▇ Loan until the participation of any Initial Revolver Lender therein is funded in accordance with Section 3.1.3(iii).