US Facility Lenders definition
Examples of US Facility Lenders in a sentence
Any prepayment of US Advances required to be made by the US Borrower under this clause (i) shall be deemed to have been made with the proceeds of US Advances made by all the US Facility Lenders in connection with such increase occurring simultaneously with the prepayment.
The US Administrative Agent and the US Facility Lenders may record and otherwise treat the making of such Borrowing as the making of a US Borrowing to the US Borrower under this Agreement as if requested by the US Borrower.
Any Borrower may, at any time and from time to time with the consent of the Administrative Agent or the Canadian Agent, as applicable, (which consent shall not be unreasonably withheld) and such Lender, designate one or more additional Canadian Lenders or U.S. Facility Lenders, as applicable, to act as an issuing lender under the terms of this Agreement.
All US Overadvance Loans shall be US Facility Loans funded by US Facility Lenders on a Pro Rata basis.
In the event an Issuing Lender makes a payment pursuant to a request for draw presented under a Letter of Credit and such payment is not promptly reimbursed by the Borrower as required herein, such Issuing Lender shall give notice of such payment to the Administrative Agent (which the Administrative Agent will promptly forward to the US Facility Lenders).
The US Administrative Agent and the US Facility Lenders hereby agree that the minimum borrowing and prepayment requirements in Section 2.4 of this Agreement shall not apply to the transactions effected pursuant to the immediately preceding sentence.
The US Borrower hereby unconditionally and irrevocably authorizes, empowers, and directs the Swing Line Lender to make such requests for US Borrowings on behalf of the US Borrower, and the US Facility Lenders to make US Advances to the US Administrative Agent for the benefit of the Swing Line Lender in satisfaction of such obligations.
If the applicable US Fronting Bank makes any payment under a US Letter of Credit and US Borrowers do not reimburse such payment on the US Reimbursement Date, Agent shall promptly notify US Facility Lenders and each US Facility Lender shall promptly (within one Business Day) and unconditionally pay to Agent in Dollars, for the benefit of US Fronting Bank, the US Facility Lender’s Pro Rata share of such payment.
No US Fronting Bank makes any express or implied warranty, representation or guarantee to US Facility Lenders with respect to the US Collateral, US LC Documents or any US Loan Party.
The US Facility Agent shall give prompt telephonic notice to the applicable Authorized Representative and each of the US Facility Lenders (confirmed in writing) if any payment is non-conforming.