Specified Time definition
Examples of Specified Time in a sentence
If a new Utilisation Request is received by the relevant Agent prior to the applicable Specified Time with a Proposed Loan equal to or less than, when aggregated with the Outstanding Facility Amount, to the Collateral Value shown in the Collateral Report, that relevant Agent shall advance the relevant funds received from the Lenders in an amount equal to the amount specified in the new Utilisation Request.
For the avoidance of doubt, this paragraph (f) is not intended to oblige any Lender to make its participations available earlier than the applicable Specified Time.
If before the applicable Specified Time, a Lender notifies the Facility Agent, or in the case of a Swingline Loan, the relevant Swingline Agent that compliance with its obligation to participate in a Loan in the proposed Optional Currency would contravene a law or regulation applicable to it, the Facility Agent, or in the case of a Swingline Loan, the relevant Swingline Agent will give notice to the Company to that effect by the applicable Specified Time.