Revolving Amendment Effective Time means the date on which each of the conditions of the effectiveness of Amendment No. 6 pursuant to Section 6 thereof has been satisfied.
Examples of Revolving Amendment Effective Time in a sentence
As of the Revolving Amendment Effective Time, the Borrower is not and will not thereafter be (i) an employee benefit plan subject to Title I of ERISA, (ii) a plan or account subject to Section 4975 of the Code, (iii) an entity deemed to hold “plan assets” of any such plans or accounts for purposes of ERISA or the Code, or (iv) a “governmental plan” within the meaning of ERISA.
Prior to the Revolving Amendment Effective Time, the Borrower shall prepare, execute and deliver to each Revolving Lender requesting a replacement note to evidence the Revolving Loans owed to it a Revolving Note in the principal amount of such Lender’s Revolving Commitment in effect as of the Revolving Amendment Effective Time.