Borrowing Base B Loans definition

Borrowing Base B Loans any Loans the purpose and use of which is to satisfy NSCC Deposit Requirements.
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Examples of Borrowing Base B Loans in a sentence

  • In the event that the aggregate principal amount of outstanding Borrowing Base B Loans exceeds the Borrowing Base B Limit, the Borrower shall, on such Business Day, prepay Borrowing Base B Loans in an amount sufficient to cure such deficiency.

  • The Borrower shall also prepay the Borrowing Base B Loans in full on the first Business Day on which Borrowing Base B Loans have been outstanding for more than 30 days in any rolling period of 90 consecutive days.

  • The Borrower may at any time prior to 4:00 P.M., New York City Time, on any Business Day, prepay the Loans, in whole or in part, without premium or penalty, upon irrevocable notice delivered to the Administrative Agent no later than 1:00 P.M., New York City time, on the date of such prepayment, which notice shall specify the date and amount of prepayment and whether the prepayment is of Borrowing Base A Loans or Borrowing Base B Loans.

  • In the event that the aggregate principal amount of outstanding Borrowing Base B Loans exceeds the Borrowing Base B Limit, KECS shall, on such Business Day, prepay Borrowing Base B Loans in an amount sufficient to cure such deficiency.

  • KECS shall also prepay the Borrowing Base B Loans in full on the first Business Day on which Borrowing Base B Loans have been outstanding for more than 30 days in any rolling period of 90 consecutive days.

  • Borrowing Base A Loans shall not be used for the purpose for which Borrowing Base B Loans shall be used.

  • After giving effect to the requested extension of Credit, there shall be no Deficiency with respect to any Loan and the outstanding Borrowing Base B Loans shall not exceed the Borrowing Base B Limit.