Borrowing Agent definition
Examples of Borrowing Agent in a sentence
In the event Agent or Borrowing Agent elects to require any Lender to assign its interest to Agent or to the Designated Lender, Agent or Borrower will so notify such Lender in writing within thirty (30) days following such ▇▇▇▇▇▇’s denial, and such Lender will assign its interest to Agent or the Designated Lender no later than five (5) Business Days following receipt of such notice pursuant to the applicable documentation executed by such Lender, Agent or the Designated Lender, as appropriate, and Agent.
Unless Agent receives (in sufficient time to act) written notice from a Lender that it will not fund its share of a Borrowing, Agent may assume that such ▇▇▇▇▇▇ has deposited or promptly will deposit its share with Agent, and Agent may disburse a corresponding amount to the applicable Borrowers.
Upon receipt of such notice, Borrowing Agent may revoke any pending request for a borrowing of Loans based on the SOFR Index Rate (to the extent of the affected Loans).
Agent shall send Borrowing Agent a monthly statement reflecting the activity in the Loan Account.
Concurrently with the delivery of such financial statements for any fiscal month, Borrowing Agent shall deliver to Agent a Compliance Certificate, indicating (x) whether Borrowers are in compliance with each of the covenant specified in Section 5.25, and setting forth a detailed calculation of such covenants and (y) whether any Default or Event of Default is then in existence.