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. Only those Revolving Loans outstanding under the Prior Credit Agreement which are Libor Rate Loans, and for which the applicable Interest Period has not yet expired as of the Effective Date shall be subject to the terms and provisions with respect to Libor Rate Loans contained herein. Upon the expiration of any Interest Period with respect to any Libor Rate Loans outstanding under the Prior Credit Agreement, such loans shall thereafter automatically convert to Prime Rate Loans.
Rate Loans. Upon any such prepayment or conversion, the Borrower shall also pay accrued interest on the amount so prepaid or converted.
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 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. 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. Upon the terms and subject to the conditions of this Agreement, in response to each request for Bid Rate Loans, each Bank may, but shall not be obligated to, submit one or more offers to make Bid Rate Loans as provided in Section 2.02(b); provided that the aggregate unpaid principal amount of all Bid Rate Loans and all RC Loans shall not exceed at any time the aggregate amount of the Commitments at such time.
Rate Loans. For purposes of calculating the commitment fee payable in respect of the Canadian Commitments under Section 2.03 of the Credit Agreement, the Canadian Swingline Loans shall not be treated as usage of the Canadian Commitments. Canadian Swingline Loans shall be denominated only in Canadian Dollars.