Rate Loans. (a) When Borrower wishes to request offers from the Banks to make Bid Rate Loans, it shall transmit to the Administrative Agent by facsimile a request (a "Bid Rate Quote Request") substantially in the form of EXHIBIT G-1 hereto so as to be received not later than 10:30 A.M. (New York time) on the fifth Banking Day prior to the date for funding of the Bid Rate Loan(s) proposed therein, specifying:
(1) the proposed date of funding of the Bid Rate Loan(s), which shall be a Banking Day;
(2) the aggregate amount of the Bid Rate Loans requested, which shall be Twenty Five Million Dollars ($25,000,000) or a larger integral multiple of One Million Dollars ($1,000,000); and
(3) the duration of the Interest Period(s) applicable thereto, subject to the provisions of the definition of "Interest Period" in Section 1.01. Borrower may request offers to make Bid Rate Loans for more than one (1) Interest Period in a single Bid Rate Quote Request. No funding of a Bid Rate Loan shall occur sooner than twenty eight (28) days after the funding of any other Bid Rate Loan.
(b) Promptly upon receipt of a Bid Rate Quote Request, the Administrative Agent shall send to the Banks by facsimile an invitation (an "Invitation for Bid Rate Quotes") substantially in the form of EXHIBIT G-2 hereto, which shall constitute an invitation by Borrower to the Banks to submit Bid Rate Quotes offering to make Bid Rate Loans to which such Bid Rate Quote Request relates in accordance with this Section.
(1) Each Bank may submit a Bid Rate Quote containing an offer or offers to make Bid Rate Loans in response to any Invitation for Bid Rate Quotes. Each Bid Rate Quote must comply with the requirements of this paragraph (c) and must be submitted to the Administrative Agent by facsimile not later than 2:00 P.M. (New York time) on the fourth Banking Day prior to the proposed date of the Bid Rate Loan(s); provided that Bid Rate Quotes submitted by UBS (or any Affiliate of the Administrative Agent) in its capacity as a Bank may be submitted, and may only be submitted, if UBS or such Affiliate notifies Borrower of the terms of the offer or offers contained therein not later than one (1) hour prior to the deadline for the other Banks. Any Bid Rate Quote so made shall (subject to Borrower's satisfaction of the conditions precedent set forth in this Agreement to its entitlement to an advance) be irrevocable except with the written consent of the Administrative Agent given on the instructions of Borrower.
(2) Eac...
Rate Loans. If the Borrowers and such Lender shall pay such interest to the Administrative Agent for the same or an overlapping period, the Administrative Agent shall promptly remit to the Borrowers the amount of such interest paid by the Borrowers for such period. If such Lender pays its share of the applicable Borrowing to the Administrative Agent, then the amount so paid shall constitute such Lender’s Loan included in such Borrowing. Any payment by a Borrower shall be without prejudice to any claim a Borrower may have against a Lender that shall have failed to make such payment to the Administrative Agent.
Rate Loans. Competitive As bid by As bid by As bid by As bid by As bid by As bid by Bid Option the Banks the Banks the Banks the Banks the Banks the Banks Utilization Fee Rate: In excess of 5.0 5.0 5.0 5.0 5.0 10.0 33.33% For purposes of this Schedule, the following terms have the following meanings:
Rate Loans. If the Administrative Borrower gives a Notice of Borrowing requesting a Revolving Loan and the Administrative Agent elects not to fund such Revolving Loan on behalf of the Revolving Loan Lenders, then promptly after receipt of the Notice of Borrowing requesting such Revolving Loan, the Administrative Agent shall notify each Revolving Loan Lender of the specifics of the requested Revolving Loan (and, if Eurodollar Rate Loans are properly requested in such Notice of Borrowing, the applicable interest rate) and that it will not fund the requested Revolving Loan on behalf of the Revolving Loan Lenders. If the Administrative Agent notifies the Revolving Loan Lenders that it will not fund a requested Revolving Loan on behalf of the Revolving Loan Lenders, each Revolving Loan Lender shall make its Pro Rata Share of the Revolving Loan available to the Administrative Agent, in immediately available funds, in the Administrative Agent's Account no later than 3:00 p.m. (New York City time) (provided that the -------- Administrative Agent requests payment from such Revolving Loan Lender not later than 1:00 p.m. (New York City time)) on the date of the proposed Revolving Loan. The Administrative Agent will make the proceeds of such Revolving Loans available to the Borrowers on the day of the proposed Revolving Loan by causing an amount, in immediately available funds, equal to the proceeds of all such Revolving Loans received by the Administrative Agent in the Administrative Agent's Account or the amount funded by the Administrative Agent on behalf of the Revolving Loan Lenders to be deposited in an account designated by the Administrative Borrower.
Rate Loans. Each Bank, severally and for itself alone, on the terms and subject to the conditions hereinafter set forth, hereby agrees to make loans (the Bid Rate Loans") to Borrower from time to time on and after the date hereof and prior to the Termination Date in amounts equal to such Bank's Bids which have been accepted as provided in Section 2.03(c). No Bank shall be obligated to make any Bid. The aggregate principal amount of Bid Rate Loans which the Borrower may request on any day shall not exceed an amount which, when added (without duplication) to the sum of all other Aggregate Outstanding Loans outstanding on such day (after giving effect to the incurrence or repayment of any Aggregate Outstanding Loans on such day), the Letter of Credit Liability and the Acceptance Liability would exceed the Total Commitment.
Rate Loans. The proceeds of the Swing Loan will be disbursed by wire by the Swing Loan Lender to the Borrowers no later than 3:00 p.m. (Eastern time).
Rate Loans. On one Business Day's notice to the Banks, AeroCentury may, at its option, prepay the Base Rate Loans in whole at any time or in part from time to time, provided that each partial prepayment shall be in at least the principal amount of $25,000 or, if greater, then in $10,000 multiples.
Rate Loans. Accrued interest on LIBO Rate Loans with Interest Periods of one, two or three months shall be due and payable on the last day of such Interest Period. Accrued interest on LIBO Rate Loans with Interest Periods of six months shall be due and payable at the end of the third month and on the last day of the Interest Period. (c Form of Payments, Application of Payments, Payment Administration, Etc. Provided that no Event of Default or Potential Default then exists, all payments and prepayments shall be applied to the Loans in such order and to such extent as shall be specified by AeroCentury, by written notice to National City at the time of such payment or prepayment. Except as otherwise provided herein, all payments of principal, interest, fees, or other amounts payable by AeroCentury hereunder shall be remitted to National City on behalf of the Banks at the address set forth opposite its name on the signature page hereof or at such office or account as National City shall specify to AeroCentury and the Banks, in immediately available funds not later than 2:00 p.m. EST on the day when due. National City will promptly distribute to each Bank by wire transfer in immediately available funds each Bank's pro rata share of such payment based upon such Bank's Revolving Loan Commitment Percentage. Whenever any payment is stated as due on a day which is not a Business Day, the maturity of such payment shall, except as otherwise provided in the definition of "Interest Period", be extended to the next succeeding Business Day and interest and commitment fees shall continue to accrue during such extension. AeroCentury authorizes National City to deduct from any account of AeroCentury maintained at National City or over which National City has control any amount payable under this Agreement, the Notes or any other Loan Document which is not paid in a timely manner. National City's failure to deliver any xxxx, statement or invoice with respect to amounts due under this Section or under any Loan Document shall not affect AeroCentury's obligation to pay any installment of principal, interest or any other amount under this Agreement when due and payable.
Rate Loans. If and to the extent that any such reimbursement shall not have been made to the Agent, the Borrower agrees to repay to the Agent forthwith on demand a corresponding amount with interest thereon for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Agent at the Alternate Base Rate plus the Applicable Margin for Alternate Base Rate Loans.
Rate Loans. Each Credit Loan actually funded by a Conduit Lender and with respect to any Credit Loan (or portion thereof) funded by such Conduit Lender through the issuance of Commercial Paper prior to the time, if any, when (i) it is refinanced with a Liquidity Funding pursuant to the Liquidity Agreement, (ii) such Conduit Lender otherwise ceases to fund or maintain such Loan through the issuance of Commercial Paper or (iii) the occurrence of an Event of Default and the commencement of the accrual of interest thereon at the default rate of interest pursuant to Section 5.10. Any Credit Loan to the extent funded by a Conduit Lender, other than through the issuance of Commercial Paper, shall be a Liquidity Funding and constitute a LIBOR Rate Loan or Base Rate Loan, as applicable. Credit Agreement. This Credit Agreement, including the Schedules and Exhibits hereto. Credit Exposure. For any Person as of any date of determination, an amount equal to the product of (x) the sum of the Net Book Values or Net Present Value of Direct Finance Lease Receivables, as applicable, of all Containers in the Borrower Fleet then on lease to such Person and its Affiliates and (y) the Advance Rate.