Examples of Initial Borrower in a sentence
The Borrowers shall pay directly to each L/C Issuer for its own account, in Dollars, a fronting fee with respect to each Letter of Credit, at a rate per annum equal to 0.15% (or such lesser amount to any respective L/C Issuer as the Initial Borrower may agree to in writing with such L/C Issuer), computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears.
The Initial Borrower shall pay to the Administrative Agent for the account of each Lender in accordance with its Applicable Percentage, a commitment fee in Dollars equal to the Applicable Rate times the actual daily amount by which the Aggregate Commitments exceed the sum of (i) the Outstanding Amount of Committed Loans and (ii) the Outstanding Amount of L/C Obligations, subject to adjustment as provided in Section 2.17.
Any Responsible Officer of each Initial Borrower obtaining knowledge that a Lender is an “affiliated person”, or an affiliated person of an affiliated person, of such Initial Borrower (within the meaning of Section 2(a)(3) of the Investment Company Act).
The Initial Borrower Financial Statements were prepared in accordance with GAAP.
After giving effect to the proposed Borrowing, each Initial Borrower shall be in compliance with all applicable limitations on Indebtedness under the Investment Company Act and its Constituent Documents.