Loan Management Service. If Agent has separately agreed that US Borrowers may use the Loan Management Service, US Borrowers shall not request and Agent shall no longer honor a request for a US Borrowing made in accordance with Section 2.3(a) and all US Borrowings will instead be initiated by Agent and credited to the US Designated Account as US Borrowings as of the end of each Business Day in an amount sufficient to maintain an agreed upon ledger balance in the US Designated Account, subject only to limitations set forth in Section 2.1. If Agent terminates US Borrowers’ access to the Loan Management Service, US Borrowers may continue to request US Borrowings as provided in Section 2.3(a), subject to the other terms and conditions of this Agreement. Agent shall have no obligation to make a Borrowing through the Loan Management Service after the occurrence of a Default or an Event of Default, or in an amount in excess of the limits set forth in Section 2.1, and may terminate the Loan Management Service at any time in its sole discretion. For the avoidance of doubt, US Borrowers’ use of the Loan Management Service shall not limit UK Borrowers’ ability to request UK Borrowings in accordance with Section 2.3(a) solely to the extent that the UK Borrowers do not use the Loan Management Service.
Appears in 4 contracts
Samples: Credit Agreement (Concrete Pumping Holdings, Inc.), Credit Agreement (Concrete Pumping Holdings, Inc.), Credit Agreement (Concrete Pumping Holdings, Inc.)
