Term Drawing definition
Examples of Term Drawing in a sentence
To the extent that the Administrative Agent receives interest payable on account of any Pledged Bonds such interest received shall be applied and credited first against accrued and unpaid interest on the Tender Advance Revolving Loan that financed the Term Drawing in respect of which such Pledged Bonds were purchased.
Upon receipt of any such request for payment from Issuing Bank, each Bank shall pay to Issuing Bank such Bank's Proportionate Share of the applicable portion of such Term Drawing Payment, together with interest thereon at a per annum rate equal to the Federal Funds Rate, as in effect from time to time, from the date of such Term Drawing Payment to the date on which such Bank makes payment.
The right of Agent to treat a Term Drawing Payment as a Prime Loan shall not be affected by the occurrence or existence of any Event of Default, the failure of Borrower to satisfy any conditions precedent to a Loan, or any other circumstance or condition.
If more than one Term Drawing made against the issue by Telekabel Wien of a Telekabel Note is outstanding each such Term Drawing shall be of a Euro Amount which is a minimum of Euro 8,000,000 (unless such Telekabel Note is to be issued in Austrian Schillings in which event it shall be of a minimum amount of Austrian Schillings 100,000,000) and, in the case of any such Term Drawing in euro, an integral multiple of Euro 2,000,000 or the balance of the Facility B Total Commitments.
Agent may, if it so elects (but shall have no obligation to), treat any Term Drawing Payment as a Prime Loan.
Upon the receipt by Agent of any Term Reimbursement Payment, Agent promptly shall pay to each Bank that has paid its Proportionate Share of the applicable Term Drawing Payment, such Bank's Proportionate Share of the Term Reimbursement Payment and shall promptly pay to Issuing Bank the balance of such Term Reimbursement Payment.
The Agent shall notify the relevant Borrower and the Banks promptly of the amount of each Term Drawing, the duration of each Interest Period or other period for the calculation of interest (or, as the case may be, default interest) and of each rate of interest determined by it under this clause 5.
Term Drawing Payments (defined below) shall bear interest at a fluctuating per annum rate equal to the Prime Rate plus two percent (2.00%).
Upon surrender to the Trustee by the Clearing Agency, accompanied by re-registration instructions from the Clearing Agency for registration and instructions and directions from the Servicer to execute and authenticate new Certificates of such Class, the Trustee shall issue authenticated Definitive Certificates of such Class.
If more than one Term Drawing (other than a Term Drawing made against the issue by Telekabel Wien of a Telekabel Note) is outstanding each such Term Drawing shall be of a Euro Amount which is a minimum of Euro 10,000,000 and, in the case of such a Term Drawing in euro, an integral multiple of Euro 5,000,000 or the balance of the Facility B Outstandings.