Alternate Currency Option Sample Clauses

Alternate Currency Option. In the case of any Alternate Currency Advance (other than in connection with a Competitive Bid Foreign Currency Loan), Borrower (acting for itself or on behalf of each other Borrower), through an Authorized Officer, shall give Administrative Agent at least three Business Days' irrevocable written notice of its intention to borrow or reborrow such advance hereunder (the "Alternate Currency Option"). Notice shall be given to Administrative Agent prior to 10:00 a.m., Dallas, Texas time, in order for such Business Day to count toward the minimum number of Business Days required. Alternate Currency Advances shall in all cases bear interest at the Alternate Currency Rate computed with respect to the applicable Alternate Currency and be subject to availability and to Section 3.5 hereof. Such notice of borrowing shall specify (i) the requested funding date, which shall be a Business Day, (ii) the Dollar Equivalent of the amount of the proposed Alternate Currency Advance, (iii) the currency of such proposed Alternate Currency Advance, (iv) the Interest Period selected by Borrower (provided that no such Interest Period shall extend past the Long Term Revolving Facility Termination Date) and (v) Borrower's election of the Effective Date on which the Alternate Currency Advance shall begin. The aggregate amount of Alternate Currency Advances to be made on any funding date shall not be less than Two Million Five Hundred Thousand and No/100 Dollars ($2,500,000.00) (in its Dollar Equivalent), or greater whole multiples of One Million and No/100 Dollars ($1,000,000.00) (in its Dollar Equivalent). The aggregate amount of Alternate Currency Advances plus Competitive Bid Foreign Currency Advances outstanding at any time (in its Dollar Equivalent) shall not exceed thirty percent (30%) of the Revolving Commitment. The aggregate amount of Competitive Bid Foreign Currency Advances outstanding at any time (in its Dollar Equivalent) shall not exceed $50,000,000.
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Alternate Currency Option. In the case of any Alternate Currency Advance, AMRESCO (acting for itself or on behalf of each other Borrower), through an Authorized Officer, shall give Agent at least three Business Days' irrevocable written notice of its intention to borrow or reborrow such advance hereunder (the "Alternate Currency Option"). Notice shall be given to Agent prior to 10:00 a.m., Dallas, Texas time, in order for such Business Day to count toward the minimum number of Business Days required. Alternate Currency Advances shall in all cases bear interest at the Alternate Currency Rate computed with respect to the applicable Alternate Currency and be subject to availability and to Section 3.5 hereof. Such notice of borrowing shall specify (i) the requested funding date, which shall be a Business Day, (ii) the Dollar Equivalent of the amount of the proposed Alternate Currency Advance, (iii) the currency of such proposed Alternate Currency Advance, (iv) the Interest Period selected by AMRESCO (provided that no such Interest Period shall extend past the Revolving Facility Termination Date) and (v) AMRESCO's election of the Effective Date on which the Alternate Currency Advance shall begin. The aggregate amount of Alternate Currency Advances to be made on any funding date shall not be less than Two Million Five Hundred Thousand and No/100 Dollars ($2,500,000.00) (in its Dollar Equivalent), or greater whole multiples of One Million and No/100 Dollars ($1,000,000.00) (in its Dollar Equivalent).
Sample 1

Related to Alternate Currency Option

  • Alternative Currency In the case of a Credit Extension to be denominated in an Alternative Currency, such currency remains an Eligible Currency.

  • Base Rate Loans Substituted for Affected Euro-Dollar Loans If (i) the obligation of any Bank to make Euro-Dollar Loans has been suspended pursuant to Section 8.2 or (ii) any Bank has demanded compensation under Section 8.3 or 8.4 with respect to its Euro-Dollar Loans and the Borrower shall, by at least five Business Days’ prior notice to such Bank through the Administrative Agent, have elected that the provisions of this Section shall apply to such Bank, then, unless and until such Bank notifies the Borrower that the circumstances giving rise to such suspension or demand for compensation no longer exist:

  • Procedure for Advances of Revolving Credit Loans and Swingline Loans Section 2.4 Repayment and Prepayment of Revolving Credit and Swingline Loans

  • Base Rate Option A fluctuating rate per annum (computed on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed) equal to the Base Rate plus the Applicable Margin, such interest rate to change automatically from time to time effective as of the effective date of each change in the Base Rate; or

  • Revolving Credit Interest Rate Options The Borrower shall have the right to select from the following Interest Rate Options applicable to the Revolving Credit Loans:

  • Alternative Currencies In the case of a Credit Extension to be denominated in an Alternative Currency, there shall not have occurred any change in national or international financial, political or economic conditions or currency exchange rates or exchange controls which in the reasonable opinion of the Administrative Agent, the Required Revolving Credit Lenders (in the case of any Loans to be denominated in an Alternative Currency) or the L/C Issuer (in the case of any Letter of Credit to be denominated in an Alternative Currency) would make it impracticable for such Credit Extension to be denominated in the relevant Alternative Currency.

  • Base Rate Advances During such periods as such Advance is a Base Rate Advance, a rate per annum equal at all times to the sum of (x) the Base Rate in effect from time to time plus (y) the Applicable Margin in effect from time to time, payable in arrears quarterly on the last day of each March, June, September and December during such periods and on the date such Base Rate Advance shall be Converted or paid in full.

  • Optional Conversion of Revolving Credit Advances The Borrower may on any Business Day, upon notice given to the Agent not later than 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.07 and 2.11(a), Convert all Revolving Credit Advances of one Type comprising the same Borrowing into Revolving Credit Advances of the other Type (it being understood that such Conversion of a Revolving Credit Advance or of its Interest Period does not constitute a repayment or prepayment of such Revolving Credit Advance); provided, however, that any Conversion of Eurodollar Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Rate Advances, any Conversion of Base Rate Advances into Eurodollar Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and no Conversion of any Revolving Credit Advances shall result in more separate Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall be substantially in the form of Exhibit H hereto, and shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Revolving Credit Advances to be Converted, and (iii) if such Conversion is into Eurodollar Rate Advances, the duration of the initial Interest Period for each such Eurodollar Rate Advance. Each notice of Conversion shall be irrevocable and binding on the Borrower.

  • Borrowing Mechanics for Swing Line Loans (i) Swing Line Loans shall be made in an aggregate minimum amount of $500,000 and integral multiples of $100,000 in excess of that amount.

  • Procedure for Swing Line Borrowing; Refunding of Swing Line Loans (a) The Borrower may borrow under the Swing Line Commitment on any Business Day during the Revolving Credit Commitment Period, provided, the Borrower shall give the Swing Line Lender irrevocable telephonic notice confirmed promptly in writing (which telephonic notice must be received by the Swing Line Lender not later than 1:00 P.M., New York City time, on the proposed Borrowing Date), specifying (i) the amount to be borrowed and (ii) the requested Borrowing Date. Each borrowing under the Swing Line Commitment shall be in an amount equal to $500,000 or a whole multiple of $100,000 in excess thereof. Not later than 3:00 P.M., New York City time, on the Borrowing Date specified in the borrowing notice in respect of any Swing Line Loan, the Swing Line Lender shall make available to the Administrative Agent at the Funding Office an amount in immediately available funds equal to the amount of such Swing Line Loan. The Administrative Agent shall make the proceeds of such Swing Line Loan available to the Borrower on such Borrowing Date in like funds as received by the Administrative Agent.

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