Reborrowing definition

Reborrowing means, to the extent that any portion of the Loans has been repaid in connection with a repayment pursuant to Section 2.06, the reborrowing by the Borrower of all or a portion of such repaid amounts otherwise subject to and in accordance with the terms hereof.
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Reborrowing. The Facility A Revolving Loans and Facility B shall each be a revolving loan facility in which maturing loans can be concurrently repaid and re-borrowed until the Termination Date. Default Rate: During the continuance of any Event of Default (as defined below), the interest rate on the Revolving Loans and Inventory Financing will be * above the interest rate otherwise applicable thereto. Optional Prepayments on the Revolving Loans: Revolving Loans may be prepaid by the applicable Borrower subject to the payment of any costs or expenses (including but not limited to any loss in reinvesting funds) that the Lender may sustain or incur as a consequence of a prepayment by such Borrower prior to the end of an Interest Period or the scheduled maturity date thereof. Closing Conditions: The availability of the Facilities shall be conditioned upon the execution and delivery of satisfactory definitive financing documentation with respect to each Facility, including the Security Package in Brazil (collectively, the “Credit Documentation”).
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Reborrowing means the reborrowing of any CD Loan or Eurodollar Loan upon the expiration of the Interest Period with respect to each such Loan.
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Examples of Reborrowing in a sentence

  • Reborrowing can thus turn a single short-term, small-dollar loan into a months-long series of multiple loans, with no path to repayment and fees that surpass the original amount borrowed.

  • This Reborrowing DAG is further generalised to appropriately account for conditional paths through the CFG.

  • Reborrowing The Borrower may not reborrow any part of the Loan which is repaid.

  • Furthermore, Bank of America notes that as set forth in the Product description herein the Product design seeks to limit the three potential risks (Cycle of Debt, High Cost, and Risk of Default) identified in the BPI Application in a number of specific ways as detailed in the Repayment and Payment Structure; Re-borrowing Risk Mitigation; Eligibility and Underwriting; and Other Features and/or Practices sections of this Application.

  • Reborrowing requires a borrower to pay a new loan fee and sets a new repayment date, with no reduction in principal.

  • No Other Repayments and no Reborrowing NOMOS shall not repay the whole or any part of the outstanding principal amount of the Advance except at the times and in the manner expressly provided for in this Agreement.

  • Reborrowing : PCL may reborrow any part of the 2021 RevolvingLoan Facility which has been prepaid or repaid in accordance with the terms of the 2021 Facility Agreement, provided that (i) no event of default as set out in the 2021 Facility Agreement has occurred; and (ii) the aggregate outstanding principal amount of all Loan(s) shall not exceed HK$100 million at any time during the Facility Period.

  • Each prefunding of L/C Obligations shall be made in accordance with Section 9.4 hereof.(c) Reborrowing.

  • Rollovers and Re-borrowing Risk Mitigation Rollovers will be prohibited.

  • In one case identified by the ACLU, a Missouri borrower was jailed for three days after failing to appear at a collection hearing on a $425 payday loan.anxiety.35 One recent study found “a sharp increase in attempted suicides after gaining access to payday loans” that “appear[ed] to be related to mental health deterioration from financial distress.”36 • Reborrowing that costs billions of dollars.


More Definitions of Reborrowing

Reborrowing. Except as set forth in Section 2.10, any amount of the Credit that becomes available for reborrowing before the first anniversary of this Agreement (or any extension of the borrowing period pursuant to Section 1.1 of this Agreement) because of payments or prepayments of the amount of the Credit outstanding may be reborrowed as a Variable-Rate Loan or a Fixed-Rate Loan or both, regardless of whether such payments or prepayments were made with respect to the Variable-Rate Note or the Fixed-Rate Notes.
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Reborrowing each refers to a borrowing pursuant to which Committed Advances are reborrowed as Competitive Bid Advances or Competitive Bid Advances are reborrowed as Committed Advances, in each case for a principal amount not more than the principal amount of the Advances outstanding at the time of such reborrowing.
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Reborrowing which is prohibited by Section 2.1(a) of the Credit Note Loan Agreement or the Mortgage Note Loan Agreement, as applicable.
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Related to Reborrowing

  • L/C Borrowing means an extension of credit resulting from a drawing under any Letter of Credit which has not been reimbursed on the date when made or refinanced as a Revolving Credit Borrowing.

  • Revolving Loans shall have the meaning assigned to such term in Section 2.1(a).

  • Borrowing means Loans of the same Type, made, converted or continued on the same date and, in the case of Eurodollar Loans, as to which a single Interest Period is in effect.

  • SOFR Borrowing means, as to any Borrowing, the SOFR Loans comprising such Borrowing.