Alternate Currency Borrowing definition
Examples of Alternate Currency Borrowing in a sentence
Each Alternate Currency Borrowing and continuation thereof shall be in a minimum aggregate amount reasonably acceptable to the Administrative Agent and the Alternate Currency Fronting Lender.
The principal of and interest on each Alternate Currency Borrowing shall be paid in the applicable currency for such Alternate Currency Borrowing and shall be paid to the Administrative Agent for the ratable (relative to Loans made as a part of such Borrowing) account of the Alternate Currency Lenders.
The Borrower hereby authorizes the Lenders and the Agent to extend, convert or continue U.S. Dollar Advances (it being understood and agreed that Alternate Currency Borrowing Requests must be in writing or by facsimile) and to transfer funds based on telephonic notices made by any person or persons the Agent or any Lender in good faith believes to be acting on behalf of the Borrower.
Please respond to this invitation by no later than [2:00 P.M. (for any Money Market Alternate Currency Borrowing)] [2:00 P.M. (for any Money Market Domestic Margin Auction Borrowing)] [9:15 A.M. (for any Money Market Domestic Absolute Rate Auction)] (New York City time) on [DATE].3 CITIBANK, N.A., as Administrative Agent By: Authorized Officer 1 Must specify an Agreement Currency.
Upon receipt of any such Alternate Currency Borrowing Request, the Agent shall promptly forward copies thereof to each of the Lenders.
Thereafter, the applicable Borrower may elect to convert such Borrowing to a different Type or to continue such Borrowing and, in the case of a Eurocurrency Revolving Borrowing, may elect Interest Periods therefor, all as provided in this Section and on terms consistent with the other provisions of this Agreement and, in the case of any Revolving Alternate Currency Borrowing, the applicable Alternate Currency Supplement.
The purchase of participations in any Loan included in any Revolving Alternate Currency Borrowing pursuant to this paragraph shall not relieve any Borrower of any default in the payment thereof.
Upon such receipt of an executed copy of such Alternate Currency Borrowing Request from each of the Lenders (which copy may be a facsimile transmittal), the Agent shall promptly notify the Borrower and each of the Lenders of such acceptance, and thereupon the Lenders shall be jointly and severally committed to make the requested Alternate Currency Advance, subject to the terms and conditions of this Agreement.
The Borrower shall give the Agent and the Alternate Currency Lender notice pursuant to a Notice of Alternate Currency Borrowing or telephonic notice of each borrowing of Alternate Currency Loans.
The requested Alternate Currency Advance will be made as requested if, and only if, each Lender shall, in its sole and absolute discretion, execute and return a copy of such Alternate Currency Borrowing Request to the Agent not later than 10:00 a.m. (Chicago time) at least three Business Days before the requested Borrowing Date for such Alternate Currency Advance.