Banking Days definition
Examples of Banking Days in a sentence
Borrowers may, from time to time and at any time, by notice in writing from the Borrower Representative to the Administrative Agent, permanently reduce the Credit Facility in whole or in part to the extent it is not being utilized at the time such notice is given, provided that such reduction shall not become effective until three (3) Banking Days after such notice has been given.
The sum of cash and Cash Equivalents held by the Consolidated Cash Group, in each case on such Drawdown Date and after giving pro forma effect to such Advance or Letter of Credit Extension and any transactions anticipated to occur within five (5) Banking Days thereafter, shall not exceed One Hundred Seventy-Five Million Dollars (US$175,000,000).
The Borrower shall deliver to the Facility Agent notice of such prepayment not less than three (3) Banking Days (with respect to a prepayment of a Term SOFR Advance) or one (1) Banking Day (with respect to a prepayment of an ABR Advance) prior to the date on which the Borrower intends to make such prepayment, and such notice shall specify the date and amount of such prepayment and must be received by the Facility Agent by noon (New York time).
Each of such acquisitions shall be completed on the date which is five Banking Days following the Acquisition Deadline, in accordance with the procedures set out in Section 11.2.
The Borrower shall deliver notice (a “Drawdown Notice”), substantially in the form of Exhibit C, on the Facility Agent (x) by 2:00 p.m. (New York City time) at least three (3) Banking Days prior to the making of any Term SOFR Advance and (y) by 12:00 p.m. (New York City time) at least one (1) Banking Day prior to the making of any ABR Advance.