Common use of Money Market Borrowings Clause in Contracts

Money Market Borrowings. (a) The Money Market Option. In addition to Committed Borrowings pursuant to Section 2.01(a), the Borrower may, as set forth in this Section, request the Banks during the Revolving Credit Period to make offers to make Money Market Loans to the Borrower. The Banks may, but shall have no obligation to, make such offers and the Borrower may, but shall have no obligation to, accept any such offers in the manner set forth in this Section. The making of a Money Market Loan by a Bank shall not affect its or any other Bank's obligation to make Committed Loans pursuant to Section 2.01.

Appears in 2 contracts

Samples: Credit Agreement (Nortel Networks LTD), Credit Agreement (Nortel Networks Corp)

AutoNDA by SimpleDocs

Money Market Borrowings. (a) The Money Market Option. In addition to Committed Borrowings pursuant to Section 2.01(a), the Borrower Company may, as set forth in this Section, request the Banks during the Revolving Credit Period to make offers to make Money Market Loans to the BorrowerCompany. The Banks may, but shall have no obligation to, make such offers and the Borrower Company may, but shall have no obligation to, accept any such offers in the manner set forth in this Section. The making of a Money Market Loan by a Bank shall not affect its or any other Bank's obligation to make Committed Loans pursuant to Section 2.01.

Appears in 2 contracts

Samples: Credit Agreement (Nortel Networks LTD), Credit Agreement (Nortel Networks Corp)

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