Available Facility B definition
Examples of Available Facility B in a sentence
If the conditions in (i) and (ii) above would not be satisfied, the Borrower shall, at the same time as the cancellation of the Available Facility B takes effect, cancel the Dollar Swingline Commitments and/or Euro Swingline Commitments to the extent necessary to ensure satisfaction of those conditions.
The Borrowers' Agent may, if it gives the Facility Agent not less than 2 Business Days' prior notice, cancel the whole or any part (being a minimum amount of US$50,000,000 and an integral multiple of US$10,000,000) of the Available Facility A or the Available Facility B.
Clause 10.2 applies to the extent that the amount of the cancellation exceeds the Available Facility A Commitment or the Available Facility B Commitment, as the case may be.
Each borrowing under the Facility B Commitments shall be in an amount equal to (i) in the case of ABR Loans, $500,000 or a whole multiple of $100,000 in excess thereof (or, if the then aggregate Available Facility B Commitments are less than $500,000, such lesser amount) and (ii) in the case of Eurodollar Loans, C/D Rate Loans or Money Market Loans, $3,000,000 or a whole multiple of $100,000 in excess thereof.
During the period from and including the Facility B Activation Date to but not including the Facility B Termination Date, the Company may use the Available Facility B Commitments by borrowing, repaying and reborrowing from time to time Facility B Loans in whole or in part, all in accordance with the terms and conditions of this Agreement.
For purposes of this Agreement, where a determination of the unused or available amount of the Facility B Commitments is necessary, the Facility B Loans shall be deemed to utilize the Available Facility B Commitments.
Borrowings under the Available Facility B Commitments may be made during the period commencing on the first date (the "Facility B Activation Date") on which both the Company requests that Facility B Loans be made available to it and the conditions of Section 1.2(c) hereof shall have been satisfied and ending on the Facility B Termination Date, provided that the Lenders will not make Facility B Loans more frequently than four (4) times per calendar year and no more than once per calendar quarter.
That Lender's Available Facility A Commitment and Available Facility B Commitment will be reduced to zero on the date of delivery of that notice.
No borrowing may be made under the Facility A Commitments to the extent there are any Available Facility B Commitments.
For the period from and including the date hereof to but not including the Facility B Termination Date, the Company shall pay to the Agent for the account of the Lenders a facility fee at the rate of one-eighth of one percent (1/8 of 1%) per annum (computed on the basis of a year of 360 days for the actual number of days elapsed) on the Facility B Commitments to the extent the same have not become Available Facility B Commitments.