Alternative Currency Advances definition
Examples of Alternative Currency Advances in a sentence
In the case of any such request with respect to the making of Alternative Currency Advances, such request shall be subject to the approval of the Agent and the Lenders; and in the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Agent and the Issuing Banks.
Each Lender (in the case of any such request pertaining to Alternative Currency Advances) or Issuing Bank (in the case of a request pertaining to Letters of Credit) shall notify the Agent, not later than 11:00 a.m., ten Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Alternative Currency Advances or the issuance of Letters of Credit, as the case may be, in such requested currency.
In the case of any such request pertaining to Alternative Currency Advances, the Agent shall promptly notify each Lender thereof; and in the case of any such request pertaining to Letters of Credit, the Agent shall promptly notify each Issuing Bank thereof.
From time to time after the Closing Date and prior to the Commitment Termination Date the Borrower may request any or all of the Banks to make offers to make Alternative Currency Advances to the Borrower.
If on any date the sum of (i) the aggregate principal amount of the Committed Loans outstanding on such date, (ii) the Alternative Currency Outstandings on such date and (iii) the aggregate principal amount of Money Market Loans outstanding on such date exceeds the aggregate amount of the Commitments, the Borrower shall prepay Alternative Currency Advances in an aggregate amount equal to such excess.
Alternative Currency Advances ARTICLE III CONDITIONS SECTION 3.01.
Parent Borrower may from time to time request that Alternative Currency Advances be made and/or Letters of Credit be issued in a currency other than those specifically listed in the definition of the term “Alternative Currency”.
All other interest and fees shall be computed on the basis of a year of 360 days and paid for the actual number of days elapsed (including the first day but excluding the last day), except for interest on Alternative Currency Advances, which shall be computed according to prevailing market practices.
Each payment delivered to the Agent for the account of any Lender shall be delivered promptly by the Agent to such Lender in the same type of funds that the Agent received, at its address for Dollar Advances or for Alternative Currency Advances as specified in Schedule 2.10 or at any other Lending Installation specified in a notice received by the Agent from such Lender.
All Loans and advances by each Lender to Borrowers under the Credit Documents, including Alternative Currency Advances, shall constitute one loan and all indebtedness and obligations of Borrowers to all of Lenders under the Credit Documents shall constitute one general obligation secured pursuant to the Collateral Documents.