Common use of Classes and Types of Borrowings Clause in Contracts

Classes and Types of Borrowings. The term "BORROWING" denotes the aggregation of Loans of one or more Lenders to be made to the Borrower pursuant to ARTICLE II on the same date, all of which Loans are of the same Class and Type (subject to ARTICLE III) and, except in the case of Base Rate Loans, have the same initial Interest Period. Loans hereunder are distinguished by "Class" and "Type". The "CLASS" of a Loan (or of a Commitment to make such a Loan or of a Borrowing comprised of such Loans) refers to whether such Loan is a Committed Loan (Syndicated or Swingline) or a Competitive Bid Loan. The "TYPE" of a Loan refers (i) in the case of Committed Loans, to whether such Loan is a Base Rate Loan or a Eurodollar Loan and (ii) in the case of Competitive Bid Loan, to whether such Loan is a Competitive Bid Absolute Rate Loan or a Competitive Bid LIBOR Loan. Identification of a Loan (or a Borrowing) by both Class and Type (e.g., a "Committed Eurodollar Loan") indicates that such Loan is a Loan of both such Class and such Type (e.g., both a Committed Loan and a Eurodollar Loan) or that such Borrowing is comprised of such Loans. In addition, Borrowings are classified by reference to the provisions of ARTICLE II under which participation therein is determined (i.e., a "Committed Loan" is a Syndicated Loan under SECTION 2.01(a) in which all Lenders participate in proportion to their Commitments or a Swingline Borrowing under SECTION 2.01(b) funded by the Swingline Lender, while a "Competitive Bid Borrowing" is a Borrowing under SECTION 2.03 in which the Lender participants are determined on the basis of their respective bids in accordance therewith).

Appears in 2 contracts

Samples: Worthington Industries Inc, Worthington Industries Inc

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Classes and Types of Borrowings. The term "BORROWING" “Borrowing” denotes the aggregation of Loans of one or more Lenders to be made to the Borrower Borrowers pursuant to ARTICLE Article II on the same date, all of which Loans are of the same Class and Class, Type (subject to ARTICLE Article III) ), currency and, except in the case of Base Rate Loans, have the same initial Interest Period. Loans hereunder are distinguished by "Class" and "Type". The "CLASS" “Class” of a Loan (or of a Commitment to make such a Loan or of a Borrowing comprised of such Loans) refers to whether such Loan is a Committed Loan (Syndicated or Swingline) or a Competitive Bid Loan. The "TYPE" “Type” of a Loan refers (i) in the case of Committed Loans, to whether such Loan is a Base Rate Loan or a Eurodollar Loan and (ii) in the case of Competitive Bid Loan, to whether such Loan is a Competitive Bid Absolute LIBOR Market Index Rate Loan or a Competitive Bid LIBOR LoanEurocurrency Loan (Eurodollar or Alternative Currency). Identification of a Loan (or a Borrowing) by both Class and Type (e.g., a "Committed Eurodollar Eurocurrency Loan") indicates that such Loan is a Loan of both such Class and such Type (e.g., both a Committed Loan and a Eurodollar Eurocurrency Loan) or that such Borrowing is comprised of such Loans. In addition, Borrowings are classified by reference to the provisions of ARTICLE Article II under which participation therein is determined (i.e., a "Committed Loan" Borrowing” is a Syndicated Loan Borrowing under SECTION Section 2.01(a) in which all Lenders participate in proportion to their Commitments or a Swingline Borrowing under SECTION Section 2.01(b) funded by the Swingline Lender, while a "Competitive Bid Borrowing" is a Borrowing under SECTION Section 2.03 in which the Lender participants are determined on the basis of their respective bids in accordance therewith).

Appears in 1 contract

Samples: Credit Agreement (Carpenter Technology Corp)

Classes and Types of Borrowings. The term "BORROWING" “Borrowing” denotes the aggregation of Loans of one or more Lenders to be made to the Borrower pursuant to ARTICLE Article II on the same date, all of which Loans are of the same Class and Type (subject to ARTICLE Article III) and, except in the case of Base Rate Loans, have the same initial Interest Period. Loans hereunder are distinguished by "Class" and "Type". The "CLASS" “Class” of a Loan (or of a Commitment to make such a Loan or of a Borrowing comprised of such Loans) refers to whether such Loan is a Committed Loan (Syndicated or Swingline) or a Competitive Bid Loan. The "TYPE" “Type” of a Loan refers (i) in the case of Committed Loans, to whether such Loan is a Base Rate Loan or a Eurodollar Loan and (ii) in the case of Competitive Bid Loan, to whether such Loan is a Competitive Bid Absolute Rate Loan or a Competitive Bid LIBOR Loan. Identification of a Loan (or a Borrowing) by both Class and Type (e.g., a "Committed Eurodollar Loan") indicates that such Loan is a Loan of both such Class and such Type (e.g., both a Committed Loan and a Eurodollar Loan) or that such Borrowing is comprised of such Loans. In addition, Borrowings are classified by reference to the provisions of ARTICLE Article II under which participation therein is determined (i.e., a "Committed Loan" is a Syndicated Loan under SECTION Section 2.01(a) in which all Lenders participate in proportion to their Commitments or a Swingline Borrowing under SECTION Section 2.01(b) funded by the Swingline Lender, while a "Competitive Bid Borrowing" is a Borrowing under SECTION Section 2.03 in which the Lender participants are determined on the basis of their respective bids in accordance therewith).

Appears in 1 contract

Samples: Credit Agreement (Worthington Industries Inc)

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Classes and Types of Borrowings. The term "BORROWINGBorrowing" denotes the aggregation of Loans of one or more Lenders to be made to the Borrower pursuant to ARTICLE Article II on the same date, all of which Loans are of the same Class and Type (subject to ARTICLE Article III) and, except in the case of Base Rate Loans, have the same initial Interest Period. Loans hereunder are distinguished by "Class" and "Type". The "CLASSClass" of a Loan (or of a Commitment to make such a Loan or of a Borrowing comprised of such Loans) refers to whether such Loan is a Committed Loan (Syndicated or Swingline) or a Competitive Bid Loan. The "TYPEType" of a Loan refers (i) in the case of Committed Loans, to whether such Loan is a Base Rate Loan or a Eurocurrency Loan (Eurodollar Loan and (ii) in the case of Competitive Bid Loan, to whether such Loan is a Competitive Bid Absolute Rate Loan or a Competitive Bid LIBOR LoanAlternative Currency). Identification of a Loan (or a Borrowing) by both Class and Type (e.g., a "Committed Eurodollar Eurocurrency Loan") indicates that such Loan is a Loan of both such Class and such Type (e.g., both a Committed Loan and a Eurodollar Eurocurrency Loan) or that such Borrowing is comprised of such Loans. In addition, Borrowings are classified by reference to the provisions of ARTICLE Article II under which participation therein is determined (i.e., a "Committed LoanBorrowing" is a Syndicated Loan Borrowing under SECTION Section 2.01(a) in which all Lenders participate in proportion to their Commitments or a Swingline Borrowing under SECTION Section 2.01(b) funded by the Swingline Lender, while a "Competitive Bid Borrowing" is a Borrowing under SECTION Section 2.03 in which the Lender participants are determined on the basis of their respective bids in accordance therewith).

Appears in 1 contract

Samples: Five Year Revolving Credit Agreement (Carpenter Technology Corp)

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