Examples of Available Borrowings in a sentence
All amounts advanced by Agent Bank or Lenders pursuant to this Section 5.12 shall become an additional obligation of Borrower to Lenders secured by the Deed of Trust and other Loan Documents, shall reduce the amount of Available Borrowings and shall become due and payable by Borrower on the next interest payment date, together with interest thereon at a rate per annum equal to the Default Rate (such interest to be calculated from the date of such advancement to the date of payment thereof by Borrower).
Promptly after receipt of each request for the issuance of a Letter of Credit and immediately prior to the issuance thereof, L/C Issuer shall obtain telephonic verification from Agent Bank that the amount of such request does not exceed the then Available Borrowings.
Available Borrowings shall be used by Borrowers to fully pay the Existing Bank Facility as of the Closing Date, and thereafter for general corporate purposes, including financing Capital Expenditures and working capital requirements of the Borrower Consolidation and Share Repurchases, New Venture Investments and the NYNY Buy- Out by PRMA subject to the limitations hereinafter set forth.
If, at any time, the Principal amount of the outstanding Advances plus the Letter of Credit Obligations exceeds the Maximum Available Borrowings, the Borrowers shall within five (5) days after written demand by the Agent pay such excess to the Agent for application to the Advances, or if all Advances are repaid, to hold as collateral for the Letters of Credit subject to the terms of Section 7.3.
All amounts advanced by Lender pursuant to this Section 5.12 shall become an additional obligation of Borrower to Lender secured by the Security Documentation and other Loan Documents, shall reduce the amount of Available Borrowings and shall become due and payable by Borrower on the next interest payment date, together with interest thereon at a rate per annum equal to the Default Rate (such interest to be calculated from the date of such advancement to the date of payment thereof by Borrower).
The Banks shall have no obligation to make any Advance if, in doing so, the Principal amount of the outstanding Advances plus the Letter of Credit Obligations would exceed the Maximum Available Borrowings.
Within the foregoing limits, Borrowers may borrow, repay and reborrow the Available Borrowings in accordance with the terms and provisions of the Credit Agreement.
All transfer, sales, value added, stamp duty and similar Taxes payable in connection with the transactions contemplated hereby will be borne by Buyer.
ACLVI shall certify to the reasonable satisfaction of Agent Bank and Lenders' Consultant that the Available Borrowings, after giving effect to the advance of the Option Disbursement, will be equal to or in excess of the Construction Completion Costs as of the requested Funding Date.
All amounts advanced by Agent Bank or Lenders pursuant to this Section 5.12 shall become an additional obligation of Borrowers to Lenders secured by the Deeds of Trust and other Loan Documents, shall reduce the amount of Available Borrowings and shall become due and payable by Borrowers on the next interest payment date, together with interest thereon at a rate per annum equal to the Default Rate (such interest to be calculated from the date of such advancement to the date of payment thereof by Borrowers).