Examples of Alternate Base Rate Borrowing in a sentence
Notwithstanding any contrary provision hereof, if an Event of Default exists and the Administrative Agent, at the request of the Required Lenders, so notifies the Borrower Representative, then, so long as such Event of Default exists (x) no outstanding Borrowing may be converted to or continued as a LIBO Rate Borrowing, and (y) unless repaid, each LIBO Rate Borrowing shall be converted to an Alternate Base Rate Borrowing at the end of the then-current Interest Period applicable thereto.
If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be an Alternate Base Rate Borrowing or, in the case of a Canadian Revolving Loan, a Canadian Prime Rate Borrowing, as applicable.
Personnel are assigned according to the needs and wishes of each individual.
Prepayments applied to any Alternate Base Rate Borrowing may be made on any Business Day, provided that the Company shall have given the Agent at least five (5) Business Days prior irrevocable written notice or notice by telephone or facsimile (which is to be promptly confirmed in writing) of such prepayment, specifying the principal amount of the Alternate Base Rate Borrowing to be prepaid and the prepayment date.
Unless the Borrower notifies the Administrative Agent at least one Domestic Business Day before the date of any Euro-Dollar Borrowing for which a Notice of Borrowing has previously been given that it elects not to borrow on such date, such Borrowing shall instead be made as a Alternate Base Rate Borrowing.