BORROWING AND LENDING Sample Clauses

BORROWING AND LENDING. The Trustee is specifically authorized to lend Trust funds to any borrower, on any terms deemed advisable, and to change the terms of these loans at any time and for any reason. This authorization includes the power to extend loans beyond maturity with or without renewal and without regard to the existence or value of any security, and to facilitate payment, to change the interest rate, to consent to the modification of any guarantee, and to forgive loans in their entirety. The Trustee is further granted all powers necessary to borrow whatever money the Trustee deems desirable for any Trust on any terms from any lender, and to mortgage, pledge or otherwise encumber as security any assets of the borrowing Trust.
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BORROWING AND LENDING. (a) Lending will take place in accordance with a first in first out principle, as per clause 4.4(d)(iii).
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BORROWING AND LENDING. As a general rule the AIF shall not be permitted to employ leverage for investment purposes. In exceptional cases and whenever necessary in the best interests of the investors, however, the AIF may take out short-term loans up to a maximum of 20% of its most recent net asset value, in particular to cover short-term liquidity shortfalls and to meet pending redemption ap- plications. The limit must be observed when the loan is taken out and may subsequently in- crease during the loan's lifetime as a result of fluctuations in the value of the AIF's assets. If when determining the NAV it becomes evident that the maximum lending limit has been ex- ceeded as a result of fluctuations in the value of the AIF's assets, appropriate measures to reduce it shall be formulated. Responsibility for concluding loan agreements on behalf of the AIF shall rest with the AIFM. The final decision on whether to take out loans rests with the AIFM, with due consideration of the interests of the external Investment Manager, if any, the purpose of the borrowing, the way in which such loans are to be secured and the repayment modalities when they fall due. The assets of the AIF (e.g. holdings of physical gold) must not be pledged except by way of securing the borrowings permitted under Section 3.5.1.1, for transactions involving derivative financial instruments (where allowed) and for investments involving the mandatory contractual pledge of assets in favour of the contracting partner or a third party.
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BORROWING AND LENDING. Except for loans from its parent corporation, the Seller has not, as either lender or borrower, entered into any Contract relating to lines of credit, loans or other extensions of credit or agreements therefor of any kind. A copy of each of such Contract has been furnished to the Buyer.
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BORROWING AND LENDING. To borrow or raise money for the purpose of the Trust Fund in such amount, and upon such terms and conditions, as the Trustee shall deem advisable; and, for any sum so borrowed, to issue promissory notes as Trustee, and to secure the repayment thereof by pledging all, or any part of, the Trust Fund, except for segregated accounts; and no person lending money to the Trustee shall be bound to see to the application of the money lent or to inquire into the validity, expediency or propriety of any such borrowing.
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BORROWING AND LENDING. Borrowing from or lending to employees, customers or suppliers.
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BORROWING AND LENDING. To borrow or to raise money for the purposes of the Fund in such amounts, and upon such terms and conditions, as the Trustees shall deem advisable; and, for any sum so borrowed, to issue promissory notes as Trustees, and to secure the repayment thereof by pledging all, or any part, of the Fund. No person lending money to the Fund shall be bound to see to the application of the money lent or to inquire into the validity, expediency, or propriety of any such borrowing. Sums borrowed may be borrowed from any source not prohibited by law.
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BORROWING AND LENDING. The Investment Manager shall not (i) lend to a third party investments or documents of title evidencing title to investments or property of IMRF or the Fund, or (ii) borrow funds on behalf of the Fund or IMRF or commit the Fund or IMRF to borrow funds, unless otherwise permitted by IMRF in writing, and provided such lending is in compliance with applicable laws.
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BORROWING AND LENDING 
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Related to BORROWING AND LENDING

  • CONDITIONS OF LENDING AND ISSUANCE OF LETTERS OF CREDIT The obligation of each Lender to make Loans and of the Issuing Lender to issue Letters of Credit hereunder is subject to the performance by each of the Loan Parties of its Obligations to be performed hereunder at or prior to the making of any such Loans or issuance of such Letters of Credit and to the satisfaction of the following further conditions:

  • Issuance of Letters of Credit and Purchase of Participations Therein (a) During the Availability Period, subject to the terms and conditions hereof, each Issuing Bank agrees to issue Letters of Credit (or amend, extend or increase any outstanding Letter of Credit) at the request and for the account of the Borrower (including for the purpose of supporting obligations of Parent or any of its Restricted Subsidiaries); provided that (i) each Letter of Credit shall be denominated in dollars; (ii) the stated amount of each Letter of Credit shall not be less than $250,000 or such lesser amount as is acceptable to the applicable Issuing Bank; (iii) after giving effect to such issuance, amendment, extension or increase, in no event shall the Total Utilization of Commitments exceed the Aggregate Available Commitment Amount then in effect; (iv) after giving effect to such issuance, amendment, extension or increase, in no event shall the aggregate Letter of Credit Usage exceed the Letter of Credit Sublimit then in effect, (v) after giving effect to such issuance, amendment, extension or increase, in no event shall the Letter of Credit Usage attributable to Letters of Credit issued by any Issuing Bank exceed the Issuing Bank Sublimit of such Issuing Bank, unless otherwise agreed to in writing by such Issuing Bank, (vi) after giving effect to such issuance, amendment, extension or increase, in no event shall the aggregate amount of Revolving Loans (and Swing Line Loans, in the case of the Swing Line Lender) and Letters of Credit issued by such Issuing Bank exceed such Issuing Bank’s Aggregate Available Commitment Amount hereunder, unless otherwise agreed to in writing by such Issuing Bank, and (vii) in no event shall any Letter of Credit have an expiration date later than the earlier of (1) five Business Days prior to the Maturity Date and (2) the date which is one year from the date of issuance of such Letter of Credit, unless otherwise agreed to in writing by such Issuing Bank. If the Borrower so requests in the Application for any Letter of Credit, the applicable Issuing Bank may, in its sole discretion, agree to issue a Letter of Credit that has automatic extension provisions (each such Letter of Credit, an “Auto-Extension Letter of Credit”); provided that any such Auto-Extension Letter of Credit must permit such Issuing Bank to prevent any such extension at least once in each twelve-month period (commencing with the date of issuance of such Letter of Credit) by giving prior notice to the beneficiary thereof not later than a day in each such twelve-month period to be agreed upon at the time such Letter of Credit is issued. Unless otherwise directed by the applicable Issuing Bank, the Borrower shall not be required to make a specific request to such Issuing Bank for any such extension. Once an Auto-Extension Letter of Credit has been issued, the Lenders shall be deemed to have authorized (but may not require) the Issuing Bank to permit the extension of such Letter of Credit at any time to an expiration date not later than the date five days prior to the Maturity Date; provided, however, that the applicable Issuing Bank shall not permit any such extension if (A) such Issuing Bank has determined that it would not be permitted at such time to issue such Letter of Credit in its revised form (as extended) under the terms hereof (except that the expiration date may be extended by up to one year from the then-current form), (B) such Issuing Bank has determined that it would have no obligation at such time to issue such Letter of Credit in its revised form under the terms hereof or (C) it has received notice from the Required Lenders or the Borrower in accordance with Section 2.4(e) that one or more of the conditions in Section 4.2(b), (c) or (d) would not be satisfied if such Letter of Credit were so extended. If any Lender is a Defaulting Lender, an Issuing Bank shall not be required to issue, amend, extend or increase any Letter of Credit unless such Issuing Bank has entered into arrangements satisfactory to it and the Borrower to eliminate such Issuing Bank’s risk with respect to the participation in Letters of Credit of such Defaulting Lender, including by cash collateralizing such Defaulting Lender’s Pro Rata Share of the Letter of Credit Usage at such time on terms satisfactory to such Issuing Bank. Each request by the Borrower for the issuance, amendment, extension or increase of any Letter of Credit shall be deemed to be a representation and warranty that the conditions set forth in clauses (iii), (iv) and (v) above have been met.

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