Syndicated Loan Sample Clauses
Syndicated Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Lenders thereof. Each Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Syndicated Loan requested from the Lenders on the proposed Drawdown Date. Each Loan Request shall be (A) in a minimum aggregate amount of $1,000,000 or an integral multiple thereof with respect to Base Rate Loans and (B) in a minimum aggregate amount of $2,000,000 or an integral multiple of $l,000,000 with respect to Eurodollar Rate Loans.
Syndicated Loan. A Portfolio Asset constitutes a “syndicated loan” if the following criteria are satisfied.
(a) The aggregate size of the Portfolio Asset facility (including undrawn commitments) is at least $100 million. The Borrower and the Collateral Manager reasonably believe that the lead bank is acting in the ordinary course of its trade or business of originating and syndicating loans.
(b) The Portfolio Asset is considered by the market to be a broadly syndicated loan offered to typical institutional non-bank investors.