Size and Term of Advances. (1) Each Prime Rate Advance or Base Rate Advance shall be in an aggregate minimum amount of $1,000,000 or US $1,000,000, respectively and in a whole multiple of $100,000 or US $100,000, respectively. (2) Each Advance of B/As shall be in an aggregate minimum amount of $5,000,000 and in a whole multiple of $100,000. In its notice requesting an Advance of B/As, the Borrower shall select a term of one, two, three or six months to apply to the Advance. (3) Each LIBOR Advance shall be in minimum amount of US $5,000,000 and a whole multiple of US $100,000. In its notice requesting a LIBOR Advance, the Borrower shall select a LIBOR Period of one, two, three or six months to apply to any particular LIBOR Advance. (4) Terms of B/As and LIBOR Periods of lengths other than those specified in Sections 5.6(2) and 5.6(3) shall also be available at the discretion of the Lenders from time to time and the Agent may, in circumstances of market disruption or illiquidity, restrict the term or maturity dates of B/As and/or LIBOR Advances. There shall not at any time be B/As and/or LIBOR Advances outstanding with more than 12 different maturity dates. No B/A may mature and no LIBOR Period may end on a date that is not a Banking Day, after the maturity date of the Credit, or after a date on which the Credit is required to be reduced if that would adversely affect the Borrower’s ability to make the reduction. (5) Each L/C issued under this Agreement shall have a term that is not more than one year after its issuance date or renewal date (which may extend beyond the then-current maturity date of the Credit), but may provide for automatic extension of its term for successive periods of up to one year each as long as the Issuing Bank has the right to avoid automatic extension by giving notice to the beneficiary of the L/C before the extension becomes effective. An L/C may otherwise be renewed by the Borrower subject to complying with the terms of this Agreement applicable to an Advance by way of L/C. On the cancellation of the Credit, the Borrower shall arrange for all outstanding L/Cs to be returned to the Issuing Bank for cancellation or, with the concurrence of the Issuing Bank, provide Cash Collateral to the Issuing Bank in an amount sufficient to fully secure all outstanding L/Cs and all L/C Fees for the remainder of their respective terms, in which case the Cash Collateral shall be held by the Issuing Bank in place of the Security.
Appears in 3 contracts
Samples: Credit Agreement (Iamgold Corp), Credit Agreement (Iamgold Corp), Credit Agreement (Iamgold Corp)
Size and Term of Advances. (1) Each Prime Rate Advance or Base Rate Advance shall be in an aggregate minimum amount of $1,000,000 or US $1,000,000, respectively and in a whole multiple of $100,000 or US $100,000, respectively.
(2) Each Advance of B/As shall be in an aggregate minimum amount of $5,000,000 1,000,000 and in a whole multiple of $100,000. In its notice requesting an Advance of B/As, the Borrower shall select a term of one, two, three or six months to apply to the Advance.
(3) Each LIBOR Advance shall be in minimum amount of US $5,000,000 1,000,000 and a whole multiple of US $100,000. In its notice requesting a LIBOR Advance, the Borrower shall select a LIBOR Period of one, two, three or six months to apply to any particular LIBOR Advance.
(4) Terms of B/As and LIBOR Periods of lengths other than those specified in Sections 5.6(2) and 5.6(3) shall also be available at the discretion of the Lenders from time to time and the Agent may, in circumstances of market disruption or illiquidity, restrict the term or maturity dates of B/As and/or LIBOR Advances. There shall not at any time be B/As and/or LIBOR Advances outstanding with more than 12 different maturity dates. No B/A may mature and no LIBOR Period may end on a date that is not a Banking Day, after the maturity date of the Credit, or after a date on which the Credit is required to be reduced if that would adversely affect the Borrower’s ability to make the reduction.
(5) Each L/C issued under this Agreement shall have a term that is not more than one year after its issuance date or renewal date (which may extend beyond the then-current maturity date of the Credit), but may provide for automatic extension of its term for successive periods of up to one year each as long as the Issuing Bank has the right to avoid automatic extension by giving notice to the beneficiary of the L/C before the extension becomes effective. An L/C may otherwise be renewed by the Borrower subject to complying with the terms of this Agreement applicable to an Advance by way of L/C. On the cancellation of the Credit, the Borrower shall arrange for all outstanding L/Cs to be returned to the Issuing Bank for cancellation or, with the concurrence of the Issuing Bank, provide Cash Collateral to the Issuing Bank in an amount sufficient to fully secure all outstanding L/Cs and all L/C Fees for the remainder of their respective terms, in which case the Cash Collateral shall be held by the Issuing Bank in place of the Security.
Appears in 2 contracts
Samples: Credit Agreement (Iamgold Corp), Credit Agreement (Iamgold Corp)
Size and Term of Advances. (1a) Each Prime Rate Advance or Base Rate Advance shall be in an aggregate minimum amount of $1,000,000 C$5,000,000 or US $1,000,000US$5,000,000, respectively and in a whole multiple of $100,000 or US $100,000C$1,000,000 and US$1,000,000, respectively.
(2b) Each Advance of B/As or B/A Equivalent Loan shall be in an aggregate minimum amount of $C$5,000,000 and in a whole multiple of $100,000C$1,000,000. In its notice requesting an Advance of B/AsAs or B/A Equivalent Loan, the Borrower requesting such Advance shall select a term of one, two, three or six months to apply to the such Advance.
(3c) Each LIBOR Advance shall be in minimum amount of US $US$5,000,000 and a whole multiple of US $100,000US$1,000,000. In its notice requesting a LIBOR Advance, the Borrower requesting such Advance shall select a LIBOR Period of one, two, three or six months to apply to any such particular LIBOR Advance.
(4d) Terms of B/As and LIBOR Periods of lengths other than those specified in Sections 5.6(26.6(b) and 5.6(36.6(c) shall also be available at the discretion of the Lenders from time to time and the Agent may, in circumstances of market disruption or illiquidity, restrict the term or maturity dates of B/As and/or LIBOR Advances. There shall not at any time be B/As and/or LIBOR Advances outstanding with more than 12 different maturity dates. No B/A may mature and no LIBOR Period may end on a date that is not a Banking Day, after the maturity date of the CreditMaturity Date, or after a date on which the Credit is required to be reduced if that would adversely affect the Borrower’s Borrowers’ ability to make the reduction.
(5e) Each L/C issued under this Agreement shall have a term that is not more than one year after its issuance date or renewal date (which may extend beyond the then-then- current maturity date of the CreditMaturity Date), but may provide for automatic extension of its term for successive periods of up to one year each as long as the Issuing Bank has Banks have the right to avoid automatic extension by giving notice to the beneficiary of the L/C before the extension becomes effective. An L/C may otherwise be renewed by the Borrower on whose behalf it was issued subject to complying with the terms of this Agreement applicable to an Advance by way of L/C. On the Maturity Date or the cancellation of the Credit, the Borrower Borrowers shall arrange for all outstanding L/Cs to be returned to the relevant Issuing Bank for cancellation or, with the concurrence consent of the relevant Issuing Bank, provide Cash Collateral to the relevant Issuing Bank in an amount sufficient (in the opinion of such Issuing Bank) to fully secure all outstanding L/Cs and all L/C Fees for the remainder of their respective terms, in which case the Cash Collateral shall be held by the relevant Issuing Bank in place of the Security.
Appears in 2 contracts
Samples: Credit Facility Agreement (HudBay Minerals Inc.), Credit Facility Agreement (HudBay Minerals Inc.)
Size and Term of Advances. (1a) Each Prime Subject to Section 6.7(b), each Base Rate Advance or Base Prime Rate Advance shall be in an aggregate minimum amount of $US$1,000,000 or US $C$1,000,000, respectively respectively, and in a whole multiple of $US$100,000 or US $C$100,000, respectively.
(2b) Each Subject to Section 6.7(b), each Advance of B/As or B/A Equivalent Loan shall be in an aggregate minimum amount of $5,000,000 C$1,000,000 and in a whole multiple of $C$100,000. In its notice requesting an Advance of B/AsAs or B/A Equivalent Loan, the Borrower shall select a term of one, two, three or six months to apply to the such Advance.
(3c) Each Subject to Section 6.7(b), each LIBOR Advance shall be in a minimum amount of US $5,000,000 US$1,000,000 and in a whole multiple of US $US$100,000. In its notice requesting a LIBOR Advance, the Borrower shall select a LIBOR Period of one, two, three or six months to apply to any such particular LIBOR Advance.
(4d) Terms of B/As and LIBOR Periods of lengths other than those specified in Sections 5.6(26.6(b) and 5.6(36.6(c) shall also be available at the discretion of the Lenders from time to time and the Agent may, in circumstances of market disruption or illiquidity, restrict the term or maturity dates of B/As and/or LIBOR Advances. There shall not at any time be B/As and/or LIBOR Advances outstanding with more than 12 different maturity dates. No B/A may mature and no LIBOR Period may end on a date that is not a Banking Day, after the maturity date of the Credit, Maturity Date or after a date on which the Credit is required to be reduced if that would adversely affect the Borrower’s ability to make the reduction.
(5e) Each L/C issued under this Agreement shall have a term that is not more than one year after its issuance date or renewal date (which may not extend beyond the then-current maturity date of the CreditMaturity Date), but may provide for automatic extension of its term for successive periods of up to one year each as long as the Issuing Bank has the right to avoid automatic extension by giving notice to the beneficiary of the L/C before the extension becomes effective. An L/C may otherwise be renewed by the Borrower subject to complying with the terms of this Agreement applicable to an Advance by way of L/C. On the Maturity Date or the cancellation of the Credit, the Borrower shall arrange for all outstanding L/Cs to be returned to the Issuing Bank for cancellation or, with the concurrence consent of the Issuing Bank, provide Cash Collateral to the Issuing Bank in an amount sufficient (in the opinion of such Issuing Bank) to fully secure all outstanding L/Cs and all L/C Fees for the remainder of their respective terms, in which case the Cash Collateral shall be held by the Issuing Bank in place of the Securitysecurity granted pursuant to the Security Documents.
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Size and Term of Advances. (1) Each Prime Rate Advance or Base Rate Advance shall be in an aggregate minimum amount of $1,000,000 or US $1,000,000, respectively and in a whole multiple of $100,000 or US $100,000, respectively.
(2) Each Advance of B/As shall be in an aggregate minimum amount of $5,000,000 1,000,000 and in a whole multiple of $100,000. In its notice requesting an Advance of B/As, the Borrower shall select a term of one, two, two or three or six months to apply to the Advance.
(3) Each LIBOR SOFR Advance shall be in minimum amount of US $5,000,000 1,000,000 and a whole multiple of US $100,000. In its notice requesting a LIBOR SOFR Advance, the Borrower shall select a LIBOR SOFR Period of one, two, three or six months to apply to any particular LIBOR SOFR Advance.
(4) Terms of B/As and LIBOR SOFR Periods of lengths other than those specified in Sections 5.6(2) and 5.6(3) shall also be available at the discretion of the Lenders from time to time and the Agent may, in circumstances of market disruption or illiquidity, restrict the term or maturity dates of B/As and/or LIBOR SOFR Advances. There shall not at any time be B/As and/or LIBOR Advances outstanding with more than 12 different maturity dates. No B/A may mature and no LIBOR SOFR Period may end on a date that is not a Banking Business Day, after the maturity date of the Credit, or after a date on which the Credit is required to be reduced if that would adversely affect the Borrower’s 's ability to make the reduction.
(5) Each L/C issued under this Agreement shall have a term that is not more than one year after its issuance date or renewal date (which may extend beyond the then-current maturity date of the Credit), but may provide for automatic extension of its term for successive periods of up to one year each as long as the Issuing Bank has the right to avoid automatic extension by giving notice to the beneficiary of the L/C before the extension becomes effective. An L/C may otherwise be renewed by the Borrower subject to complying with the terms of this Agreement applicable to an Advance by way of L/C. On the cancellation of the Credit, the Borrower shall arrange for all outstanding L/Cs to be returned to the Issuing Bank for cancellation or, with the concurrence of the Issuing Bank, provide Cash Collateral to the Issuing Bank in an amount sufficient to fully secure all outstanding L/Cs and all L/C Fees for the remainder of their respective terms, in which case the Cash Collateral shall be held by the Issuing Bank in place of the Security.
Appears in 1 contract
Samples: Credit Agreement (Iamgold Corp)
Size and Term of Advances. (1a) Each Prime Rate Advance or Base Rate Advance shall be in an aggregate minimum amount of $1,000,000 or US $1,000,000, respectively and in a whole multiple of $100,000 or US $100,000, respectively.
(2) Each Advance of B/As shall be in an aggregate minimum amount of $US$5,000,000 and in a whole multiple of $100,000. In its notice requesting an Advance of B/As, the Borrower shall select a term of one, two, three or six months to apply to the AdvanceUS$1,000,000.
(3b) Each LIBOR Advance shall be in minimum amount of US $US$5,000,000 and a whole multiple of US $100,000US$1,000,000. In its notice requesting a LIBOR Advance, the Borrower shall select a LIBOR Period of one, two, three or six months (subject to availability) to apply to any such particular LIBOR Advance.
(4c) Terms of B/As and LIBOR Periods of lengths other than those specified in Sections 5.6(2) and 5.6(3Section 6.6(b) shall also be available at the discretion of the Lenders from time to time and the Agent may, in circumstances of market disruption or illiquidity, restrict the term or maturity dates of B/As and/or LIBOR Advances. There shall not at any time be B/As and/or LIBOR Advances outstanding with more than 12 different maturity dates. No B/A may mature and no LIBOR Period may end on a date that is not a Banking Day, after the maturity date of the CreditMaturity Date, or after a date on which the Credit is required to be reduced if that would adversely affect the Borrower’s 's ability to make the reduction.
(5d) Each L/C issued under this Agreement shall have a term that is not more than one year after its issuance date or renewal date (which may extend beyond the then-then- current maturity date of the CreditMaturity Date), but may provide for automatic extension of its term for successive periods of up to one year each as long as the Issuing Bank has Banks have the right to avoid automatic extension by giving notice to the beneficiary of the L/C before the extension becomes effective. An L/C may otherwise be renewed by the Borrower subject to complying with the terms of this Agreement applicable to an Advance by way of L/C. On the Maturity Date or the cancellation of the Credit, the Borrower shall arrange for all outstanding L/Cs to be returned to the relevant Issuing Bank for cancellation or, with the concurrence consent of the relevant Issuing Bank, provide Cash Collateral to the relevant Issuing Bank in an amount sufficient (in the opinion of such Issuing Bank) to fully secure all outstanding L/Cs and all L/C Fees for the remainder of their respective terms, in which case the Cash Collateral shall be held by the relevant Issuing Bank in place of the Security.
Appears in 1 contract
Size and Term of Advances. (1) Each Prime Rate Advance or Base Rate Advance shall be in an aggregate minimum amount of $1,000,000 or US $1,000,000, respectively and in a whole multiple of $100,000 or US $100,000, respectively.
(2) Each Advance of B/As shall be in an aggregate minimum amount of $5,000,000 and in a whole multiple of $100,0001,000. In its notice requesting an Advance of B/As, the Borrower Borrowers shall select a term of one, two, three or six months to apply to the Advance.
(3) Each LIBOR Advance shall be in a minimum amount of US $5,000,000 and a whole multiple of US $100,000500,000. In its notice requesting a LIBOR Advance, the Borrower Borrowers shall select a LIBOR Period of one, two, three or six months to apply to any particular LIBOR Advance.
(4) Terms of B/As and LIBOR Periods of lengths other than those specified in Sections 5.6(29.8(2) and 5.6(39.8(3) shall also be available at the discretion of the Lenders from time to time and the Agent may, in circumstances of market disruption or illiquidity, restrict the term or maturity dates of B/As and/or LIBOR Advances. There shall not at any time be B/As and/or LIBOR Advances outstanding with more than 12 six different maturity dates. No B/A may mature and no LIBOR Period may end on a date that is not a Banking Business Day, after the maturity date of the applicable Credit, or after a date on which the applicable Credit is required to be reduced if that would adversely affect the Borrower’s Borrowers’ ability to make the reduction.
(5) Each L/C issued under this Agreement shall have a term that is not more than one year after its issuance date or renewal date (which may extend beyond the then-current maturity date of the CreditCredit under which the L/C is issued), but may provide for automatic extension renewal of its term for successive periods of up to one year each as long as the Issuing Bank has the right to avoid automatic extension renewal by giving notice to the beneficiary of the L/C before the extension becomes effective. An L/C may otherwise be renewed by the Borrower Borrowers subject to complying with the terms of this Agreement applicable to an Advance by way of L/C. On the cancellation of the applicable Credit, the Borrower Borrowers shall arrange for all outstanding L/Cs to be returned to the Issuing Bank for cancellation or, with the concurrence of the Issuing Bank, provide Cash Collateral to the Issuing Bank in an amount sufficient to fully secure all outstanding L/Cs and Cs, all L/C Fees and all fronting fees for the remainder of their respective terms, in which case the Cash Collateral shall be held by the Issuing Bank in place of the Security.
Appears in 1 contract
Size and Term of Advances. (1a) Each Prime Rate Advance or Base Rate Advance shall be in an aggregate minimum amount of $1,000,000 C$5,000,000 or US $1,000,000US$5,000,000, respectively and in a whole multiple of $100,000 or US $100,000C$1,000,000 and US$1,000,000, respectively.
(2b) Each Advance of B/As or B/A Equivalent Loan shall be in an aggregate minimum amount of $C$5,000,000 and in a whole multiple of $100,000C$1,000,000. In its notice requesting an Advance of B/AsAs or B/A Equivalent Loan, the Borrower requesting such Advance shall select a term of one, two, three or six months to apply to the such Advance.
(3c) Each LIBOR Advance shall be in minimum amount of US $US$5,000,000 and a whole multiple of US $100,000US$1,000,000. In its notice requesting a LIBOR Advance, the Borrower requesting such Advance shall select a LIBOR Period of one, two, three or six months to apply to any such particular LIBOR Advance.
(4d) Terms of B/As and LIBOR Periods of lengths other than those specified in Sections 5.6(26.7(b) and 5.6(36.7(c) shall also be available at the discretion of the Lenders from time to time and the Agent may, in circumstances of market disruption or illiquidity, restrict the term or maturity dates of B/As and/or LIBOR Advances. There shall not at any time be B/As and/or LIBOR Advances outstanding with more than 12 different maturity dates. No B/A may mature and no LIBOR Period may end on a date that is not a Banking Day, after the maturity date of the CreditMaturity Date, or after a date on which the Credit is required to be reduced if that would adversely affect the Borrower’s Borrowers’ ability to make the reduction.
(5e) Each L/C issued under this Agreement shall have a term that is not more than one year after its issuance date or renewal date (which may extend beyond the then-then- current maturity date of the CreditMaturity Date), but may provide for automatic extension of its term for successive periods of up to one year each as long as the Issuing Bank has Banks have the right to avoid automatic extension by giving notice to the beneficiary of the L/C before the extension becomes effective. An L/C may otherwise be renewed by the Borrower on whose behalf it was issued subject to complying with the terms of this Agreement applicable to an Advance by way of L/C. On the Maturity Date or the cancellation of the Credit, the Borrower Borrowers shall arrange for all outstanding L/Cs to be returned to the relevant Issuing Bank for cancellation or, with the concurrence consent of the relevant Issuing Bank, provide Cash Collateral to the relevant Issuing Bank in an amount sufficient (in the opinion of such Issuing Bank) to fully secure all outstanding L/Cs and all L/C Fees for the remainder of their respective terms, in which case the Cash Collateral shall be held by the relevant Issuing Bank in place of the Security.
Appears in 1 contract
Size and Term of Advances. (1) Each Prime Rate Advance or Base Rate Advance shall be in an aggregate minimum amount of $1,000,000 or US $1,000,000, respectively and in a whole multiple of $100,000 or US $100,000, respectively.
(2) Each Advance of B/As shall be in an aggregate minimum amount of $5,000,000 1,000,000 and in a whole multiple of $100,0001,000. In its notice requesting an Advance of B/As, the Borrower shall select a term of one, two, three or six months to apply to the Advance.
(3) Each LIBOR Advance shall be in a minimum amount of US $5,000,000 1,000,000 and a whole multiple of US $100,000500,000. In its notice requesting a LIBOR Advance, the Borrower shall select a LIBOR Period of one, two, three or six months to apply to any particular LIBOR Advance.
(4) Terms of B/As and LIBOR Periods of lengths other than those specified in Sections 5.6(29.8(2) and 5.6(39.8(3) shall also be available at the discretion of the Lenders from time to time and the Agent may, in circumstances of market disruption or illiquidity, restrict the term or maturity dates of B/As and/or LIBOR Advances. There shall not at any time be B/As and/or LIBOR Advances outstanding with more than 12 six different maturity dates. No B/A may mature and no LIBOR Period may end on a date that is not a Banking Day, after the maturity date of the applicable Credit, or after a date on which the applicable Credit is required to be reduced if that would adversely affect the Borrower’s 's ability to make the reduction.
(5) Each L/C issued under this Agreement shall have a term that is not more than one year after its issuance date or renewal date (which may extend beyond the then-current maturity date of the CreditCredit under which the L/C is issued), but may provide for automatic extension renewal of its term for successive periods of up to one year each as long as the Issuing Bank has the right to avoid automatic extension renewal by giving notice to the beneficiary of the L/C before the extension becomes effective. An L/C may otherwise be renewed by the Borrower subject to complying with the terms of this Agreement applicable to an Advance by way of L/C. On the cancellation of the applicable Credit, the Borrower shall arrange for all outstanding L/Cs to be returned to the Issuing Bank for cancellation or, with the concurrence of the Issuing Bank, provide Cash Collateral to the Issuing Bank in an amount sufficient to fully secure all outstanding L/Cs and Cs, all L/C Fees and all fronting fees for the remainder of their respective terms, in which case the Cash Collateral shall be held by the Issuing Bank in place of the Security.
Appears in 1 contract
Samples: Credit Agreement
Size and Term of Advances. (1a) Each Prime Rate Advance or Base Rate Advance shall be in an aggregate minimum amount of $1,000,000 or US $1,000,000, respectively and in a whole multiple of $100,000 or US $100,000, respectively.
(2) Each Advance of B/As shall be in an aggregate minimum amount of $US$5,000,000 and in a whole multiple of $100,000. In its notice requesting an Advance of B/As, the Borrower shall select a term of one, two, three or six months to apply to the AdvanceUS$1,000,000.
(3b) Each LIBOR SOFR Advance shall be in minimum amount of US $US$5,000,000 and a whole multiple of US $100,000US$1,000,000. In its notice requesting a LIBOR SOFR Advance, the Borrower shall select a LIBOR Period an Available Tenor of one, two, three or six months (subject to availability) to apply to any such particular LIBOR SOFR Advance.
(4c) Terms of B/As and LIBOR Periods Available Tenors of lengths other than those specified in Sections 5.6(2) and 5.6(3Section 6.6(b) shall also be available at the discretion of the Lenders from time to time and the Agent may, in circumstances of market disruption or illiquidity, restrict the term or maturity dates of B/As and/or LIBOR SOFR Advances. There shall not at any time be B/As and/or LIBOR SOFR Advances outstanding with more than 12 different maturity dates. No B/A may mature and no LIBOR Interest Period may end on a date that is not a Banking Day, after the maturity date of the CreditMaturity Date, or after a date on which the Credit is required to be reduced if that would adversely affect the Borrower’s 's ability to make the reduction.
(5d) Each L/C issued under this Agreement shall have a term that is not more than one year after its issuance date or renewal date (which may extend beyond the then-then- current maturity date of the CreditMaturity Date), but may provide for automatic extension of its term for successive periods of up to one year each as long as the Issuing Bank has Banks have the right to avoid automatic extension by giving notice to the beneficiary of the L/C before the extension becomes effective. An L/C may otherwise be renewed by the Borrower subject to complying with the terms of this Agreement applicable to an Advance by way of L/C. On the Maturity Date or the cancellation of the Credit, the Borrower shall arrange for all outstanding L/Cs to be returned to the relevant Issuing Bank for cancellation or, with the concurrence consent of the relevant Issuing Bank, provide Cash Collateral to the relevant Issuing Bank in an amount sufficient (in the opinion of such Issuing Bank) to fully secure all outstanding L/Cs and all L/C Fees for the remainder of their respective terms, in which case the Cash Collateral shall be held by the relevant Issuing Bank in place of the Security.
Appears in 1 contract
Size and Term of Advances. (1a) Each Prime Rate Advance or Base Rate Advance shall be in an aggregate minimum amount of $1,000,000 C$5,000,000 or US $1,000,000US$5,000,000, respectively and in a whole multiple of $100,000 or US $100,000C$1,000,000 and US$1,000,000, respectively.
(2b) Each Advance of B/As or B/A Equivalent Loan shall be in an aggregate minimum amount of $C$5,000,000 and in a whole multiple of $100,000C$1,000,000. In its notice requesting an Advance of B/AsAs or B/A Equivalent Loan, the Borrower requesting such Advance shall select a term of one, two, two or three or six months (subject to availability) to apply to the such Advance.
(3c) Each LIBOR SOFR Advance shall be in minimum amount of US $US$5,000,000 and a whole multiple of US $100,000US$1,000,000. In its notice requesting a LIBOR SOFR Advance, the Borrower requesting such Advance shall select a LIBOR Period an Available Tenor of one, two, three or six months (subject to availability) to apply to any such particular LIBOR SOFR Advance.
(4d) Terms of B/As and LIBOR Periods Available Tenors of lengths other than those specified in Sections 5.6(26.6(b) and 5.6(36.6(c) shall also be available at the discretion of the Lenders from time to time and the Agent may, in circumstances of market disruption or illiquidity, restrict the term or maturity dates of B/As and/or LIBOR SOFR Advances. There shall not at any time be B/As and/or LIBOR SOFR Advances outstanding with more than 12 different maturity dates. No B/A may mature and no LIBOR Interest Period may end on a date that is not a Banking Day, after the maturity date of the CreditMaturity Date, or after a date on which the Credit is required to be reduced if that would adversely affect the Borrower’s 's ability to make the reduction.
(5e) Each L/C issued under this Agreement shall have a term that is not more than one year after its issuance date or renewal date (which may extend beyond the then-then- current maturity date of the CreditMaturity Date), but may provide for automatic extension of its term for successive periods of up to one year each as long as the Issuing Bank has Banks have the right to avoid automatic extension by giving notice to the beneficiary of the L/C before the extension becomes effective. An L/C may otherwise be renewed by the Borrower on whose behalf it was issued subject to complying with the terms of this Agreement applicable to an Advance by way of L/C. On the Maturity Date or the cancellation of the Credit, the Borrower shall arrange for all outstanding L/Cs to be returned to the relevant Issuing Bank for cancellation or, with the concurrence consent of the relevant Issuing Bank, provide Cash Collateral to the relevant Issuing Bank in an amount sufficient (in the opinion of such Issuing Bank) to fully secure all outstanding L/Cs and all L/C Fees for the remainder of their respective terms, in which case the Cash Collateral shall be held by the relevant Issuing Bank in place of the Security.
Appears in 1 contract
Size and Term of Advances. (1a) Each Prime Subject to Section 6.7(b), each Base Rate Advance or Base Prime Rate Advance shall be in an aggregate minimum amount of $US$1,000,000 or US $C$1,000,000, respectively respectively, and in a whole multiple of $US$100,000 or US $C$100,000, respectively.
(2b) Each Subject to Section 6.7(b), each Advance of B/As or B/A Equivalent Loan shall be in an aggregate minimum amount of $5,000,000 C$1,000,000 and in a whole multiple of $C$100,000. In its notice requesting an Advance of B/AsAs or B/A Equivalent Loan, the Borrower shall select a term of one, two, two or three or six months to apply to the such Advance.
(3c) Each Subject to Section 6.7(b), each LIBOR Advance shall be in a minimum amount of US $5,000,000 US$1,000,000 and in a whole multiple of US $US$100,000. In its notice requesting a LIBOR Advance, the Borrower shall select a LIBOR Period of one, two, one or three or six months to apply to any such particular LIBOR Advance.
(4d) Terms of B/As and LIBOR Periods of lengths other than those specified in Sections 5.6(26.6(b) and 5.6(36.6(c) shall also be available at the discretion of the Lenders from time to time and the Agent may, in circumstances of market disruption or illiquidity, restrict the term or maturity dates of B/As and/or LIBOR Advances. There shall not at any time be B/As and/or LIBOR Advances outstanding with more than 12 different maturity dates. No B/A may mature and no LIBOR Period may end on a date that is not a Banking Day, after the maturity date of the Credit, Maturity Date or after a date on which the Credit is required to be reduced if that would adversely affect the Borrower’s ability to make the reduction.
(5e) Each L/C issued under this Agreement shall have a term that is not more than one year after its issuance date or renewal date (which may not extend beyond the then-current maturity date of the CreditMaturity Date), but may provide for automatic extension of its term for successive periods of up to one year each as long as the relevant Issuing Bank has the right to avoid automatic extension by giving notice to the beneficiary of the L/C before the extension becomes effective. An L/C may otherwise be renewed by the Borrower subject to complying with the terms of this Agreement applicable to an Advance by way of L/C. On the Maturity Date or the cancellation of the Credit, the Borrower shall arrange for all outstanding L/Cs to be returned to the relevant Issuing Bank for cancellation or, with the concurrence consent of the relevant Issuing Bank, provide Cash Collateral to the such Issuing Bank in an amount sufficient (in the opinion of such Issuing Bank) to fully secure all outstanding L/Cs and all L/C Fees for the remainder of their respective terms, in which case the Cash Collateral shall be held by the relevant Issuing Bank in place of the Securitysecurity granted pursuant to the Security Documents.
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Size and Term of Advances. (1) Each Prime Rate Advance or Base Rate Advance shall be in an aggregate minimum amount of $1,000,000 or US $1,000,000, respectively and in a whole multiple of $100,000 or US $100,000, respectively.
(2) Each Advance of B/As shall be in an aggregate minimum amount of $5,000,000 1,000,000 and in a whole multiple of $100,000. In its notice requesting an Advance of B/As, the Borrower shall select a term of one, two, three or six months to apply to the Advance.
(3) Each LIBOR Advance shall be in minimum amount of US $5,000,000 1,000,000 and a whole multiple of US $100,000. In its notice requesting a LIBOR Advance, the Borrower shall select a LIBOR Period of one, two, three or six months to apply to any particular LIBOR Advance.
(4) Terms of B/As and LIBOR Periods of lengths other than those specified in Sections 5.6(2) and 5.6(3) shall also be available at the discretion of the Lenders from time to time and the Agent may, in circumstances of market disruption or illiquidity, restrict the term or maturity dates of B/As and/or LIBOR Advances. There shall not at any time be B/As and/or LIBOR Advances outstanding with more than 12 different maturity dates. No B/A may mature and no LIBOR Period may end on a date that is not a Banking Business Day, after the maturity date of the Credit, or after a date on which the Credit is required to be reduced if that would adversely affect the Borrower’s 's ability to make the reduction.
(5) Each L/C issued under this Agreement shall have a term that is not more than one year after its issuance date or renewal date (which may extend beyond the then-current maturity date of the Credit), but may provide for automatic extension of its term for successive periods of up to one year each as long as the Issuing Bank has the right to avoid automatic extension by giving notice to the beneficiary of the L/C before the extension becomes effective. An L/C may otherwise be renewed by the Borrower subject to complying with the terms of this Agreement applicable to an Advance by way of L/C. On the cancellation of the Credit, the Borrower shall arrange for all outstanding L/Cs to be returned to the Issuing Bank for cancellation or, with the concurrence of the Issuing Bank, provide Cash Collateral to the Issuing Bank in an amount sufficient to fully secure all outstanding L/Cs and all L/C Fees for the remainder of their respective terms, in which case the Cash Collateral shall be held by the Issuing Bank in place of the Security.
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