Examples of Capitalized Interest Loan in a sentence
Unless otherwise specified by the Initial Borrower in writing, any such Capitalized Interest Loan shall be either (i) a LIBOR Loan, if the applicable Lender can consolidate such Loan with an existing LIBOR Loan or (ii) a Reference Rate Loan (provided that such Reference Rate Loans shall be automatically converted into LIBOR Loans in accordance with Section 2.3(c) hereof).
Unless otherwise specified by the Borrowers in writing, any such Capitalized Interest Loan shall become part of the existing Loan upon which it is capitalized, on the same terms and conditions as such existing Loan.
Unless otherwise specified by Company in writing, any such Capitalized Interest Loan shall become part of the existing Loan upon which it is capitalized, on the same terms and conditions as such existing Loan.
Borrower shall apply the proceeds of (i) each Development Loan (A) to develop the Subject Interests in accordance with the Development Budget or as otherwise agreed by Lender in its sole discretion, and (B) for general business purposes and working capital purposes of Borrower consistent with the Development Budget, and (ii) each Capitalized Interest Loan for the payment of interest during the Draw Period.
Borrower shall use the proceeds of each Capitalized Interest Loan solely for (i) interest payments to Working Capital Lenders on the Working Capital Loans, (ii) interest payments to Syndicated Lenders on the Term Loans, (iii) payments to the Issuing Bank for fees and costs related to the issuance of Letters of Credit, and (iv) payment to QUALCOMM of the Underwriting Fee and the Guaranty Fee.
JHFS shall record the date and amount of each Capitalized Interest Loan made by it to the Borrower under the Program, each payment of principal made by such Borrower with respect thereto, and each addition to principal made pursuant to the proviso at the end of the first paragraph hereof.
Each Capitalized Interest Loan shall be made as part of a Borrowing consisting of Capitalized Interest Loans made by the Capitalized Interest Lenders ratably in accordance with their respective Capitalized Interest Commitments.
JHFS may endorse on one or more schedules forming a part of this Capitalized Interest Note appropriate notations to evidence the foregoing information with respect to each Capitalized Interest Loan to such Borrower and any additions to principal hereof; provided, that the failure of JHFS to make any such recordation or endorsement shall not affect the obligations of the Borrower under this Capitalized Interest Note or under the Program.
Each such telephonic Borrowing Request shall be irrevocable and shall be confirmed promptly by hand delivery or facsimile to Administrative Agent of a written Capitalized Interest Loan Request in the form of Exhibit C, approved by Administrative Agent and signed by Borrower.
In connection with any notice delivered by the Borrowers pursuant to this Section 3.3(c) in connection with a Capitalized Interest Loan, the Borrowers shall not be obligated to deliver a Borrowing Base Certificate attached thereto.