Global Note Loans Sample Clauses
The 'Global Note Loans' clause defines the terms under which loans are issued and evidenced by a single, consolidated global note rather than individual certificates for each lender. In practice, this means that all participating lenders' interests are recorded in a central register, and the global note serves as the legal instrument representing the total outstanding loan amount. This approach streamlines administration, simplifies transfers between lenders, and reduces paperwork, ultimately ensuring efficient management of syndicated or multi-lender loan arrangements.
Global Note Loans. The Borrower shall cause its beneficial interest in each Global Note Loan to be transferred to the Custody Account not later than the date specified in Section 2(a)(ii) or Section 2(b)(v), as applicable of the Custody Agreement. The Borrower will take such steps as reasonably requested by the Facility Agent from time to time to effect and perfect the security interest of the Facility Agent, on behalf of the Secured Parties, in each Global Note Loan.