Examples of Revolving Loans in a sentence
If more than five percent (5%) of the Collections since the most recent Funding Date are not identified or reconciled to the satisfaction of Administrative Agent within ten (10) Business Days of receipt, Administrative Agent shall not be obligated to make further Revolving Loans until such amount is identified or is reconciled to the reasonable satisfaction of Administrative Agent, as the case may be.
Administrative Agent shall have the right to rely on any telephonic, e-mail or posted request for a Revolving Loan made by anyone purporting to be an officer of Borrower Representative who has been authorized in writing to request Revolving Loans, without further investigation.
Any Revolving Loans made by Administrative Agent hereunder shall be treated for all purposes as, and shall accrue interest at the same rate applicable to, Revolving Loans.
Within the foregoing limits and subject to the terms and conditions set forth herein, the Borrowers may borrow, prepay and reborrow Tranche Two Revolving Loans.
If Borrowers are requesting that a Revolving Loan be made on such Funding Date, Borrowers hereby authorize Administrative Agent to make Revolving Loans to Borrowers based upon a telephonic or e-mail request (or, if permitted by Administrative Agent, based upon a request posted on CIT’s StuckyNet web- based loan accounting system) made by an Authorized Officer (each, a “ Loan Request”).