Where the Borrower definition

Where the Borrower needs to make any drawdown prior to the applicable scheduled drawdown date, it shall obtain the consent of both the Entrustor and the Entrustee. Without the consent of the Entrustor and the written notice from the Entrustor to the Entrustee, any amount that fails to be drawn on the applicable scheduled drawdown date set forth above may not be drawn after such scheduled drawdown date. In the event the Entrustor agrees to release such amount that fails to be drawn on the applicable scheduled drawdown date, the Entrustee may pursuant to the written authorization from the Entrustor, charge liquidated damages on such amount at the rate of 0.05%/day and on the basis of the number of days actually delayed and 360 days a year. In case the Entrustor fails to deposit the sufficient amount for any scheduled drawdown into the Entrusted Loan Account prior to such drawdown so that the Borrower cannot make such drawdown in accordance with the Drawdown Schedule, the Entrustor shall pay liquidated damages to the Borrower at the rate of 0.05%/day and on the basis of the number of days actually delayed and 360 days a year.
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Where the Borrower s Funded Bank Debt to EBITDA Ratio is equal to or less than the ratio of 1.01 to 1, then the interest rate payable to Lender on this Note (hereafter defined) for the next ensuing annual period shall be equal to the rate announced by The Chase Manhattan Bank, N.A., for the guidance of its lending officers as its prime lending rate for commercial loans as in effect from time to time at its principal office in New York, N.Y., which may not be the lowest rate of interest available to its customers ("The Chase Manhattan Bank Prime Rate of Interest") less 125 basis points. In the event The Chase Manhattan Bank, N.A. shall cease to exist or shall no longer publish a prime lending rate for commercial loans, Lender shall select another commercial bank, in its sole discretion, which shall be substituted for The Chase Manhattan Bank herein. The rate of interest shall not at any time exceed the maximum rate of interest permitted under the laws of the State of Oklahoma for loans of the type and character evidenced by this Note. Where the Borrower's Funded Bank Debt to EBITDA is greater than the ratio of 1.01 to 1 but is less than or equal to the ratio of 1.51 to 1, then the interest rate payable to Lender on this Note for the next ensuing annual period shall be equal to The Chase Manhattan Bank Prime Rate of Interest minus 100 basis points. Where the Borrower's Funded Bank Debt to EBITDA is greater than or equal to the ratio of 1.51 to 1 but is less than or equal to the ratio of 2.00 to 1, then the interest rate payable to Lender on this Note for the next ensuing annual period shall be equal to The Chase Manhattan Bank Prime Rate of Interest minus 75 basis points. Where the Borrower's Funded Bank Debt to EBITDA is greater than or equal to the ratio of 2.00 to 1, then the interest rate payable to Lender on this Note for the next ensuing annual period shall be equal to The Chase Manhattan Bank Prime Rate of Interest minus 50 basis points. Debtor agrees that the Lender may affix to this Note a schedule of the applicable interest rate calculated according to the manner set forth above, which schedule shall be prima facie evidence of the of applicable interest rate payable on this Note for any period or periods for which there is any principal or accrued but unpaid interest outstanding. PAYMENTS NOT MADE WHEN DUE. Any principal and/or interest amount not paid when due shall bear interest at a rate six percent (6%) per annum greater than the per annum interest rate prevailin...
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Where the Borrower has given notice under Clause 11.2 to prepay a Xxxxxx's participation in the Loan:
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Examples of Where the Borrower in a sentence

  • Where the Borrower continues to use the Loan or if the Loan remains outstanding after such notification, the Borrower or Guarantor shall be deemed to have agreed with and accepted such change(s).

  • Where the Borrower has entered into or hereafter shall enter into any agreement, contract or arrangement with Hang Seng, the breach of any provisions of any of such agreement, contract and/or arrangement shall be deemed to be breach of these Terms and Conditions which entitles Hang Seng to demand immediate repayment of the Loan and/or the Revolving Loan or the balance thereof together with any interest, expenses, charges and fees, and to claim losses suffered if any.

  • Where the Borrower Security Trustee is not willing or able to exercise its discretion, approval from relevant Qualifying Borrower Secured Creditors (which do not include providers of liquidity or hedge counterparties) is required.

  • Where the Borrower wishes to maintain reasonable standardization of its equipment or spare parts in the interests of compatibility with existing equipment.

  • Where the Borrower comprises more than one person, the covenants and agreements on their part contained or implied in this Agreement bind them jointly and each of them severally.

  • Where the Borrower is an individual the Borrower is de facto giving a personal guarantee.

  • Where the Borrower is required by ESS1 8 to engage internationally recognised independent experts, the experts will be expected to advise on key aspects of the project, including stakeholder engagement.

  • Where the Borrower continues to use the Facilities or if the Facilities remain outstanding after such notification, the Borrower and/or any other Obligor shall be deemed to have agreed with and accepted such change(s).

  • Where the Borrower is not a member, the member in whose territory the Project is to be carried out or any other authority having jurisdiction shall have taken any action for the dissolution or disestablishment of the Borrower, the alienation or transfer of any of its assets other than in the normal course of business, or for the suspension of its operations.

  • Where the Borrower is not a member, the Borrower shall have been unable to pay its debts as they mature or any action or proceeding shall have been taken by the Borrower or by others whereby any of the assets of the Borrower shall or may be distributed among its creditors.

Related to Where the Borrower

  • Borrower as defined in the preamble hereto.

  • Borrower Affiliate shall have the meaning set forth in the Lead Securitization Servicing Agreement; provided that in the event that any Non-Lead Note is securitized in a Securitization, the term “Borrower Affiliate” as used in the definitions of “Non-Lead Note Holder” and “Non-Lead Note Holder Representative” shall refer to a “Borrower Affiliate” as defined in the related Non-Lead Securitization Servicing Agreement or such other analogous term used in the related Non-Lead Securitization Servicing Agreement.

  • The Borrower has advised the Banks that the Borrower has entered into an Agreement and Plan of Merger and Reorganization, dated as of February 10, 2000 (the "Merger Agreement"), among the Borrower, Opticare Health Systems, Inc. (the "Parent"), and OC Acquisition Corp., a wholly-owned subsidiary of the Parent ("Merger Sub"), pursuant to which the parties intend to merge Merger Sub with and into the Borrower subject to the terms and conditions thereof which include, among other things, restructuring the Obligations owing to the Banks on terms and conditions mutually agreed upon by the Borrower and the Banks. While the Borrower and the Banks have initiated discussions and due diligence concerning the Merger and any proposed restructuring of the Obligations, the Borrower acknowledges that the Banks have not consented to the Merger nor have the Banks agreed to any terms and conditions relating to any restructuring of the Obligations. In the meantime, however, the Borrower intends to continue to sell the remaining physician practice management groups operated by the Borrower and its Subsidiaries (collectively being referred to herein as the "PPM Businesses") and use a portion of the proceeds from the sale of the PPM Businesses to meet its reasonable and necessary operating expenses. To afford the Borrower an opportunity to proceed with the transactions described above, the Borrower has requested that (i) the Banks extend the temporary waiver period provided for in Sections 2.1 and 2.2 of that certain Seventh Amendment and Waiver to Credit Agreement dated as of December 10, 1999, among the Borrower, the Banks, and the Agent (the "Seventh Amendment") (as further amended, in part, by a December 30, 1999, letter agreement, a February 29, 2000, letter agreement, a March 24, 2000, letter agreement, an April 14, 2000, letter agreement, a May 5, 2000, letter agreement, and a May 19, 2000, letter agreement, in each case between the Borrower, the Banks and the Agent) and, in addition, that the Banks temporarily waive any non-compliance by the Borrower as of December 31, 1999, and as of March 31, 2000, with Sections 8.8 (Total Funded Debt/Adjusted EBITDA Ratio), 8.10 (Interest Coverage Ratio), and 8.11 (Debt Service Coverage Ratio) of the Credit Agreement and the Borrower's non-compliance with Section 8.5(b) of the Credit Agreement with respect to the timely delivery of the Borrower's March 31, 2000, financial statements, in each case to the earlier of June 9, 2000, or the termination of the Merger Agreement pursuant to its terms (the earlier of such dates being referred to herein as the "Waiver Termination Date"), (ii) Bank of Montreal extend the Bridge Loan Period from June 2, 2000, to the Waiver Termination Date, and (iii) postpone the due date for the payment of principal, interest and unused commitment fees otherwise due on or before June 2, 2000, to the Waiver Termination Date. By signing below, the Banks (including Bank of Montreal with respect to the Bridge Loan Commitment) hereby agree to extend the waiver period provided in Sections 2.1 and 2.2 of the Seventh Amendment from June 2, 2000, to the Waiver Termination Date, temporarily waive any non-compliance by the Borrower as of December 31, 1999, and March 31, 2000, with Sections 8.8 (Total Funded Debt/Adjusted EBITDA Ratio), 8.10 (Interest Coverage Ratio), and 8.11 (Debt Service Coverage Ratio) of the Credit Agreement and the Borrower's non-compliance with Section 8.5(b) of the Credit Agreement with respect to the timely delivery of the Borrower's March 31, 2000, financial statements through the period ending on the Waiver Termination Date, agree to extend the Bridge Loan Period to the Waiver Termination Date, and agree to postpone the due date for the payment of principal, interest, and unused commitment fees otherwise due on or before June 2, 2000, to the Waiver Termination Date, provided that:

  • Borrower Party means the Mortgage Loan Borrower, a manager of the Mortgaged Property, an Accelerated Mezzanine Loan Lender or any Borrower Party Affiliate.

  • Co-Borrower shall have the meaning assigned to such term in the introductory paragraph of this Agreement.

  • Qualified borrower means any borrower that is a sponsoring entity that has a controlling interest in the real property that is financed by a qualified loan. A controlling interest includes, but is not limited to, a controlling interest in the general partner of a limited partnership that owns the real property.

  • Loan Party means the Borrower and each Guarantor.

  • Credit Party means the Administrative Agent, the Issuing Bank, the Swingline Lender or any other Lender.

  • Lender Parent means, with respect to any Lender, any Person as to which such Lender is, directly or indirectly, a subsidiary.

  • means Borrower s forecasted consolidated and consolidating: (a) balance sheets; (b) profit and loss statements; (c) cash flow statements; and (d) capitalization statements, all prepared on a Subsidiary by Subsidiary or division-by-division basis, if applicable, and otherwise consistent with the historical Financial Statements of the Borrower, together with appropriate supporting details and a statement of underlying assumptions.

  • Borrower Related Party As defined in Section 3.33 of this Agreement.

  • Parent Borrower as defined in the preamble hereto.

  • Borrower Party Affiliate means, with respect to the Mortgage Loan Borrower, a manager of the Mortgaged Property or an Accelerated Mezzanine Loan Lender, (a) any other Person controlling or controlled by or under common control with such Mortgage Loan Borrower, manager or Accelerated Mezzanine Loan Lender, as applicable, or (b) any other Person owning, directly or indirectly, 25% or more of the beneficial interests in such Mortgage Loan Borrower, manager or Accelerated Mezzanine Loan Lender, as applicable. For the purposes of this definition, “control” when used with respect to any specified Person means the power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise and the terms “controlling” and “controlled” have meanings correlative to the foregoing.

  • Borrower/s means and refers to jointly and severally to the Applicants (more particularly described in the Application Form) who has/have been sanctioned/granted/disbursed the Loan by ABFL pursuant to the relevant Application Form submitted by such applicants to ABFL for availing of the Loan and depending upon the nature of the Borrower/s, shall, unless repugnant to the context or meaning thereof, be deemed to include his/her legal heirs, executors and administrators;

  • Loan Parties means, collectively, the Borrower and each Guarantor.

  • Original Borrower means, as the context requires, any of them;

  • Applicable Borrower means, with respect to any Loan or other amount owing hereunder or any matter pertaining to such Loan or other amount, whichever of the Borrowers is the primary obligor on such Loan or other amount.

  • U.S. Credit Party means the U.S. Borrower and each U.S. Subsidiary Guarantor.

  • Eligible borrower means owners or others having an interest in property situated within the downtown area of a participating city, community development corporations associated with a participating city, Iowa main street program organizations associated with a participating city, community-initiated development groups associated with a participating city, or other organization associated with a participating city for purposes of implementing the Iowa main street program.

  • Initial Borrower has the meaning set forth in the preamble hereto.

  • Additional Borrower means a company which becomes an Additional Borrower in accordance with Clause 24 (Changes to the Obligors).

  • Borrowers each has the meaning specified in the introductory paragraph hereto.

  • Borrower Parties means the collective reference to the Borrower and its Restricted Subsidiaries, and “Borrower Party” means any one of them.

  • Borrower Group means the Borrower and each of its Subsidiaries.

  • U.S. Borrower means any Borrower that is a U.S. Person.

  • Co-Borrowers has the meaning specified in the introductory paragraph to this Agreement.