Common use of Borrowing Options Clause in Contracts

Borrowing Options. The Term Loans shall, at the option of Company except as otherwise provided in this Agreement, be (i) Base Rate Loans, (ii) Eurocurrency Loans, or (iii) part Base Rate Loans and part Eurocurrency Loans. As to any Eurocurrency Loan, any Lender may, if it so elects, fulfill its commitment by causing a foreign branch or affiliate to make or continue such Loan, provided that in such event that Lender’s Loan shall, for the purposes of this Agreement, be considered to have been made by that Lender and the obligation of Company to repay that Lender’s Loan shall nevertheless be to that Lender and shall be deemed held by that Lender, for the account of such branch or affiliate.

Appears in 4 contracts

Samples: Term Loan Agreement (Texas Petrochemicals Inc.), Term Loan Agreement (Texas Petrochemicals Inc.), Term Loan Agreement (Texas Petrochemicals Inc.)

AutoNDA by SimpleDocs

Borrowing Options. The Term Revolving Loans shall, at the option of Company Borrower except as otherwise provided in this Agreement, be (i) Base Rate Loans, (ii) Eurocurrency Eurodollar Loans, or (iii) part Base Rate Loans and part Eurocurrency Eurodollar Loans. As to any Eurocurrency Eurodollar Loan, any Lender may, if it so elects, fulfill its commitment by causing a foreign branch or affiliate to make or continue such Loan, provided that in such event that Lender’s 's Commitment Percentage of the Loan shall, for the purposes of this Agreement, be considered to have been made by that Lender and the obligation of Company Borrower to repay that Lender’s 's Commitment Percentage of the Loan shall nevertheless be to that Lender and shall be deemed held by that Lender, for the account of such branch or affiliate.

Appears in 3 contracts

Samples: Credit Agreement (BMC Industries Inc/Mn/), Credit Agreement (Compx International Inc), Credit Agreement (BMC Industries Inc/Mn/)

Borrowing Options. The Term Loans and the Revolving Loans shall, at the option of Company Borrower except as otherwise provided in this Agreement, be (i) Base Rate Loans, (ii) Eurocurrency Eurodollar Loans, or (iii) part Base Rate Loans and part Eurocurrency Eurodollar Loans. As to any Eurocurrency Eurodollar Loan, any Lender may, if it so elects, fulfill its commitment by causing a foreign branch or affiliate to make or continue such Loan, provided that in such event that Lender’s 's Commitment Percentage of the Loan shall, for the purposes of this Agreement, be considered to have been made by that Lender and the obligation of Company Borrower to repay that Lender’s 's Commitment Percentage of the Loan shall nevertheless be to that Lender and shall be deemed held by that Lender, for the account of such branch or affiliate.

Appears in 1 contract

Samples: Credit Agreement (BMC Industries Inc/Mn/)

AutoNDA by SimpleDocs

Borrowing Options. The Term Loans and the Revolving Loans shall, at the option of Company Borrower except as otherwise provided in this Agreement, be (i) Base Rate Loans, (ii) Eurocurrency Eurodollar Loans, or (iii) part Base Rate Loans and part Eurocurrency Eurodollar Loans. As to any Eurocurrency Eurodollar Loan, any Lender may, if it so elects, fulfill its commitment by causing a foreign branch or affiliate to make or continue such Loan, provided that in such event that Lender’s Commitment Percentage of the Loan shall, for the purposes of this Agreement, be considered to have been made by that Lender and the obligation of Company Borrower to repay that Lender’s Commitment Percentage of the Loan shall nevertheless be to that Lender and shall be deemed held by that Lender, for the account of such branch or affiliate.

Appears in 1 contract

Samples: Second Amendment and Restatement Agreement (BMC Industries Inc/Mn/)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!