Redesignation of Loans Sample Clauses

Redesignation of Loans. (a) Subject to Section 8.2, if any Eurodollar Loan is not repaid or renewed on the last day of the applicable Eurodollar Period, such Eurodollar Loan automatically shall be redesignated as a Prime Rate Loan on such date. (b) Subject to the terms and conditions set forth in this Agreement, at any time and from time to time from the Closing Date until the thirty-third day preceding the Maturity Date, Borrowers may request that all or a portion of outstanding Prime Rate Loans be redesignated as a Eurodollar Loan or that a maturing Eurodollar Loan be redesignated as a new Eurodollar Loan, provided that no Loan redesignated as a Eurodollar Loan shall have a Eurodollar Period expiring after the Maturity Date. (c) Each redesignation of all or a portion of outstanding Prime Rate Loans or to renew a maturing Eurodollar Loan as a Eurodollar Loan shall be made pursuant to a written Request for Redesignation of Loans. Not later than 12:00 noon, Los Angeles time, at least three (3) Eurodollar Banking Days prior to the first day of the applicable Eurodollar Period, Agent shall have received, at Agent's Office, a properly completed Request for Redesignation of Loans specifying the requested (1) date of redesignation and (2) amount of Loans to be redesignated as a Eurodollar Loan, and (3) the applicable Eurodollar Period. Agent may, in its sole and absolute discretion, permit a Request for Redesignation of Loans to be made by telephone by a Responsible Official of a Borrower on behalf of the Borrowers, in which case such Borrower shall confirm same by mailing or faxing a written Request for Redesignation of Loans to Agent within 48 hours following the date of redesignation. If Borrowers fail to make a written Request for Redesignation of Loans, Borrowers hereby waive the right to dispute the amount, interest rate or term of any such Eurodollar Loan. (d) Unless the Requisite Banks otherwise consent, the amount of such Loans to be redesignated as a Eurodollar Loan shall be an integral multiple of $250,000. (e) With respect to any redesignation of a Loan as a Eurodollar Loan, at or about 10:00 a.m., Los Angeles time, three (3) Eurodollar Banking Days before the first day of the applicable Eurodollar Period, Agent shall determine the applicable Eurodollar Rate (which determination shall be conclusive in the absence of manifest error) and promptly shall give notice of the same to Borrowers and the Banks by telephone or telecopier. (f) Upon fulfillment of the applicable conditi...
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Redesignation of Loans. 17 2.6 Standby Letters of Credit................................................
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Redesignation of Loans. (a) Subject to Section 10.2, if any Offshore Rate Loan is not repaid on, or redesignated as an Offshore Rate Loan prior to, the last day of the applicable Interest Period, such Loan automatically shall be redesignated as a Reference Rate Loan on such date. Any Offshore Rate Loan that is not repaid, redesignated or automatically redesignated on the last day of the applicable Interest Period shall bear interest at the rate specified in clause (i) of Section 5.7. (b) Subject to the terms and conditions set forth in this Agreement, at any time and from time to time from the Closing Date until the thirtieth day preceding the Termination Date, the Borrower may request that all or a portion of outstanding Reference Rate Loans be redesignated as an Offshore Rate Loan. (c) Each redesignation of all or a portion of outstanding Reference Rate Loans or Offshore Rate Loans as an Offshore Rate Loan shall be made pursuant to a written Request for Redesignation of Loans. Not later than 9:00 a.m., Los Angeles time, three Banking Days prior to the first Banking Day of the applicable requested Interest Period, the Agent shall have received, at the Agent's Office, a properly completed Request for Redesignation of Loans specifying the requested (i) date of redesignation, (ii) amount of Reference Rate Loans or Offshore Rate Loans to be redesignated as an Offshore Rate Loan, and (iii) applicable Interest Period. The Agent may, in its sole and absolute discretion, permit a Request for Redesignation of Loans to be made by telephone (confirmed immediately by telecopier), telecopier or telex by a Responsible Official of the Borrower, in which case the Borrower shall confirm same by mailing a written Request for Redesignation of Loans to the Agent within 48 hours following the date of redesignation. (d) Unless the Majority Lenders otherwise consent, the amount of Reference Rate Loans to be redesignated as an Offshore Rate Loan shall be at least $1,000,000 and an integral multiple of $100,000 for amounts in excess thereof. (e) With respect to any redesignation of Reference Rate Loans as an Offshore Rate Loan, at or about 8:00 a.m., Los Angeles time, two Banking Days prior to the commencement of the applicable Interest Period, the Agent shall determine the applicable Offshore Rate (which determination shall be conclusive in the absence of manifest error) and promptly shall give notice of the same to Borrower and the Lenders by telephone, telecopier or telex. (f) Upon fulfillment of the...
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Redesignation of Loans. Borrower may redesignate a Base Rate Loan, or any portion thereof subject to Sections 2.1(e) and 2.1(g), as a Eurodollar Rate Loan by delivering a Request for Redesignation to the Administrative Agent at the Administrative Agent's Office subject to the same time limitations and other conditions set forth in Sections 2.3 and 3.1(e)(iv) in the case of a Request for Loan. Borrower may redesignate a Eurodollar Rate Loan, or any portion thereof subject to Section 2.1(e), as a Base Rate Loan by delivering a Request for Redesignation to the Administrative Agent at the Administrative Agent's Office subject to the same time limitations and other conditions set forth in Sections 2.2 and 3.1(e)(iv); PROVIDED that such redesignation shall not be effective prior to the end of the Eurodollar Period for that Eurodollar Rate Loan. If no timely Request for Redesignation is delivered to the Administrative Agent prior to the end of the Eurodollar Period for any Eurodollar Rate Loan, it shall automatically be redesignated as a Base Rate Loan as of the end of such Eurodollar Period.
Sample 1
Redesignation of Loans. 29 4.6 Letters of Credit and Set-Aside Letters.................31 4.7 Reduction of the Revolving Commitments..................37 4.8 Determination, Adjustment and Modification of the Borrowing Base..........................................37 4.9 [Deleted................................................43 4.10 [Deleted]...............................................43 4.11
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Redesignation of Loans. The Borrowers may redesignate a Base Rate Loan, or any portion thereof subject to Section 2.1(c), as a Eurodollar Loan by delivering a Request for Redesignation to the Administrative Agent subject to the same time limitations and other conditions set forth in Sections 2.3 and 3.1(e)(iv) in the case of a Request for Loan. The Borrowers may redesignate a Eurodollar Loan, or any portion thereof subject to Sections 2.1(c) and 2.1(g), as a Base Rate Loan by delivering a Request for Redesignation to the Administrative Agent subject to the same time limitations and other conditions set forth in Sections 2.2 and 3.1(e)(iv); provided that such redesignation shall not be effective prior to the end of the Eurodollar Period for that Eurodollar Loan. If no timely Request for Redesignation is delivered to the Administrative Agent prior to the end of the Eurodollar Period for any Eurodollar Loan, it shall automatically be redesignated as a Base Rate Loan as of the end of such Eurodollar Period.
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Redesignation of Loans. 16 2.6 Standby Letters of Credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 2.7 Reduction of the Commitment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
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Related to Redesignation of Loans

  • Designation of a Different Lending Office If any Lender requests compensation under Section 3.04, or the Borrower is required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 3.01, or if any Lender gives a notice pursuant to Section 3.02, then such Lender shall use reasonable efforts to designate a different Lending Office for funding or booking its Loans hereunder or to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the judgment of such Lender, such designation or assignment (i) would eliminate or reduce amounts payable pursuant to Section 3.01 or 3.04, as the case may be, in the future, or eliminate the need for the notice pursuant to Section 3.02, as applicable, and (ii) in each case, would not subject such Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender. The Borrower hereby agrees to pay all reasonable costs and expenses incurred by any Lender in connection with any such designation or assignment.

  • Termination of Loans In addition to BTC’s authority to terminate a loan of Securities pursuant to the terms of the applicable Securities Lending Agreement as described in Section 2.4 above, BTC shall terminate any Securities loan to a Borrower in accordance with the applicable Securities Lending Agreement promptly: (a) upon receipt by BTC of Oral Instructions or Written Instructions instructing it to terminate a Securities loan; provided that the Company may require that each Security must be returned to the Fund by no later than the date which is the standard settlement date for trades of such Security entered into on the date such Oral Instruction or Written Instruction is received by BTC; (b) upon receipt by BTC of Oral Instructions or Written Instructions pursuant to the Securities Lending Guidelines to no longer lend to a particular Borrower; (c) upon receipt of written notice from the Company terminating this Agreement with respect to one or more Funds in accordance with Section 6; or (d) as contemplated by the Securities Lending Guidelines.

  • Acceleration of Loans Declare the unpaid principal of and any accrued interest in respect of all Loans, any reimbursement obligations arising from drawings under Letters of Credit and any and all other indebtedness or obligations of any and every kind owing by a Credit Party to any of the Lenders hereunder to be due whereupon the same shall be immediately due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Credit Parties.

  • Designation of Different Lending Office If any Lender requests compensation under Section 5.01, or if the Borrower is required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 5.03, then such Lender shall use reasonable efforts to designate a different lending office for funding or booking its Loans hereunder or to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the judgment of such Lender, such designation or assignment (i) would eliminate or reduce amounts payable pursuant to Section 5.01 or Section 5.03, as the case may be, in the future and (ii) would not subject such Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender. The Borrower hereby agrees to pay all reasonable costs and expenses incurred by any Lender in connection with any such designation or assignment.

  • Designation of Additional Accounts The Seller hereby delivers herewith a computer file or microfiche or written list containing a true and complete list of all such Additional Accounts specifying for each such Account, as of the Additional Cut-Off Date, its account number, the aggregate amount of Receivables outstanding in such Account and the aggregate amount of Principal Receivables in such Account. Such file or list shall, as of the date of this Assignment, supplement Schedule 1 to the Agreement.

  • Designation of Additional Issuing Banks The Borrower may, at any time and from time to time, with the consent of the Administrative Agent (which consent shall not be unreasonably withheld), designate as additional Issuing Banks one (1) or more Lenders that agree to serve in such capacity as provided below. The acceptance by a Lender of an appointment as an Issuing Bank hereunder shall be evidenced by an agreement, which shall be in form and substance reasonably satisfactory to the Administrative Agent, executed by the Borrower, the Administrative Agent and such designated Lender and, from and after the effective date of such agreement, (i) such Lender shall have all the rights and obligations of an Issuing Bank under this Agreement and the other Loan Documents and (ii) references herein or therein to the term “Issuing Bank” shall be deemed to include such Lender in its capacity as an issuer of Letters of Credit hereunder.

  • Conversion and Continuation of Loans The Lead Borrower on behalf of the Borrowers shall have the right at any time, (a) on three (3) Business Days’ prior irrevocable notice to the Administrative Agent (which notice, to be effective, must be received by the Administrative Agent not later than 12:00 noon, Boston time, on the third Business Day preceding the date of any conversion), (x) to convert any outstanding Borrowings of Prime Rate Loans (but in no event Swingline Loans) to Borrowings of LIBO Loans, or (y) to continue an outstanding Borrowing of LIBO Loans for an additional Interest Period, (b) on one Business Day’s irrevocable notice to the Administrative Agent (which notice, to be effective, must be received by the Administrative Agent not later than 12:00 noon, Boston time, on the date of any conversion), to convert any outstanding Borrowings of LIBO Loans to a Borrowing of Prime Rate Loans, subject to the following: (i) without the consent of the Required Lenders, no Borrowing of Loans may be converted into, or continued as, LIBO Loans at any time when an Event of Default has occurred and is continuing; (ii) if less than a full Borrowing of Loans is converted, such conversion shall be made pro rata among the Lenders, as applicable, in accordance with the respective principal amounts of the Loans comprising such Borrowing held by such Lenders immediately prior to such conversion; (iii) the aggregate principal amount of Loans being converted into or continued as LIBO Loans shall be in an integral of $1,000,000 and at least $5,000,000; (iv) each Lender shall effect each conversion by applying the proceeds of its new LIBO Loan or Prime Rate Loan, as the case may be, to its Loan being so converted; (v) the Interest Period with respect to a Borrowing of LIBO Loans effected by a conversion or in respect to the Borrowing of LIBO Loans being continued as LIBO Loans shall commence on the date of conversion or the expiration of the current Interest Period applicable to such continued Borrowing, as the case may be; (vi) a Borrowing of LIBO Loans may be converted only on the last day of an Interest Period applicable thereto; (vii) each request for a conversion or continuation of a Borrowing of LIBO Loans which fails to state an applicable Interest Period shall be deemed to be a request for an Interest Period of one month; and (viii) no more than fifteen (15) Borrowings of LIBO Loans may be outstanding at any time. If the Lead Borrower does not give notice to convert any Borrowing of Prime Rate Loans, or does not give notice to continue, or does not have the right to continue, any Borrowing as LIBO Loans, in each case as provided above, such Borrowing shall automatically be converted to, or continued as, as applicable, a Borrowing of Prime Rate Loans at the expiration of the then current Interest Period. The Administrative Agent shall, after it receives notice from the Borrower, promptly give each Lender notice of any conversion, in whole or part, of any Loan made by such Lender.

  • Acceleration of Loan On the service of a notice under paragraph (a)(ii) of Clause 19.2, the Loan, all accrued interest and all other amounts accrued or owing from the Borrower or any Security Party under this Agreement and every other Finance Document shall become immediately due and payable or, as the case may be, payable on demand.

  • Designation of Unrestricted Subsidiaries The Borrower Representative may at any time after the Closing Date designate any Restricted Subsidiary as an Unrestricted Subsidiary and subsequently re-designate any Unrestricted Subsidiary as a Restricted Subsidiary, if other than for purposes of designating a Restricted Subsidiary as an Unrestricted Subsidiary that is a Receivables Subsidiary in connection with the establishment of a Qualified Receivables Financing (i) the Interest Coverage Ratio of UK Holdco and the Restricted Subsidiaries for the most recently ended Reference Period preceding such designation or re-designation, as applicable, would have been, on a Pro Forma Basis, at least the lesser of (x) 2.00 to 1.00 and (y) the Interest Coverage Ratio as of the most recently ended Reference Period and (ii) no Event of Default has occurred and is continuing or would result therefrom. The designation of any Restricted Subsidiary as an Unrestricted Subsidiary after the Closing Date shall constitute an Investment by the applicable Loan Party or Restricted Subsidiary therein at the date of designation in an amount equal to the Fair Market Value of the applicable Loan Party’s or Restricted Subsidiary’s investment therein; provided that if any subsidiary (a “Subject Subsidiary”) being designated as an Unrestricted Subsidiary has a subsidiary that was previously designated as an Unrestricted Subsidiary (the “Previously Designated Unrestricted Subsidiary”) in compliance with the provisions of this Agreement, the Investment of such Subject Subsidiary in such Previously Designated Unrestricted Subsidiary shall not be taken into account, and shall be excluded, in determining whether the Subject Subsidiary may be designated as an Unrestricted Subsidiary hereunder. The designation of any Unrestricted Subsidiary as a Restricted Subsidiary shall constitute (x) the incurrence at the time of designation of Indebtedness or Liens of such Subsidiary existing at such time, and (y) a return on any Investment by the applicable Loan Party or Restricted Subsidiary in Unrestricted Subsidiaries pursuant to the preceding sentence in an amount equal to the Fair Market Value at the date of such designation of such Loan Party’s or Restricted Subsidiary’s Investment in such Subsidiary. For the avoidance of doubt, neither a Borrower nor UK Holdco shall be permitted to be an Unrestricted Subsidiary. At any time a Subsidiary is designated as an Unrestricted Subsidiary hereunder, the Borrower Representative shall cause such Subsidiary to be designated as an Unrestricted Subsidiary (or any similar applicable term) under the Senior Secured Notes.

  • Resignation of a Borrower (a) The Company may request that a Borrower (other than the Company) ceases to be a Borrower by delivering to the Agent a Resignation Letter. (b) The Agent shall accept a Resignation Letter and notify the Company and the Lenders of its acceptance if: (i) no Default is continuing or would result from the acceptance of the Resignation Letter (and the Company has confirmed this is the case); and (ii) the Borrower is under no actual or contingent obligations as a Borrower under any Finance Documents, whereupon that company shall cease to be a Borrower and shall have no further rights or obligations under the Finance Documents.

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