Examples of Sterling Borrowing in a sentence
If such Borrowing is a Eurocurrency or Pounds Sterling Borrowing, such request shall be deemed to be withdrawn.
Each Sterling Borrowing (other than a Sterling Borrowing or deemed Sterling Borrowing under Section 2B.8 to reimburse a Sterling L/C Issuer for any Sterling Unreimbursed Amount) shall be in an aggregate amount not less than £5,000,000, shall be in an integral multiple of £1,000,000 and shall, when made, consist of Sterling Advances having the same Sterling Interest Period, made on the same day by the UK Banks ratably according to their respective Sterling Commitments.
Each Sterling Borrowing, each conversion of Sterling Loans denominated in Dollars from one Type of Dollar-denominated Loans to the other, and each continuation of Eurocurrency Rate Loans shall be made upon the requesting Sterling Borrower’s irrevocable notice to Administrative Agent, which may be given by (A) telephone or (B) a Sterling Loan Notice; provided that any telephonic notice must be confirmed immediately by delivery to Administrative Agent of a Sterling Loan Notice.
If the requesting Sterling Borrower requests a Sterling Borrowing of, conversion to or continuation of Eurocurrency Rate Loans in any such Sterling Loan Notice, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one month.
Within the limits of each UK Bank’s Sterling Commitment, the UK Borrower may borrow, prepay pursuant to Section 2.9B(a) and reborrow under this Section 2B.1. Subject to the terms and conditions hereof, more than one Sterling Borrowing may be made on a UK Business Day (including, for example, a Sterling Borrowing having one Sterling Interest Period and another Sterling Borrowing having a different Sterling Interest Period).
Each UK Bank severally agrees, on the terms and conditions hereinafter set forth, to make one or more Sterling Advances as part of a Sterling Borrowing to the UK Borrower from time to time on any UK Business Day during the Sterling Allocation Period in an aggregate amount not to exceed at any time outstanding (i) such UK Bank’s Sterling Commitment minus (ii) such UK Bank’s Sterling Pro Rata Share of outstanding Sterling L/C Obligations.
If the requesting Sterling Borrower fails to specify a currency in a Sterling Loan Notice requesting a Sterling Borrowing, then the Sterling Loans so requested shall be made in Dollars.
To request a Swingline Loan, the Borrower shall notify the Swingline Lender of such request by telephone (confirmed by telecopy) (i) in the case of a Fed Funds Borrowing, not later than 1:00 p.m., Dallas, Texas time, on the day of a proposed Borrowing and (ii) in the case of a Euro Borrowing or a Sterling Borrowing, not later than 2:00 p.m., New York, New York time, three Business Days before such Borrowing.
At the time that each Swingline Dollar Borrowing is made, such Borrowing shall be in an aggregate amount that is not less than $1.00 and at the time that each Swingline Euro Borrowing or Swingline Sterling Borrowing is made, such Borrowing shall be in an aggregate amount that is not less than $50,000.
The UK Administrative Agent shall promptly notify each UK Bank and the UK Borrower of the applicable interest rate under Section 2B.5. Each UK Bank shall, before 11:00 A.M. on the date of such Sterling Borrowing, make available for the account of its Applicable Lending Office to the UK Administrative Agent at its UK Payment Office, in same day funds, such UK Bank’s ratable portion of such Sterling Borrowing.