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Borrowing Procedure definition

Borrowing Procedure. The Term Facility will be available in a single draw on or after the date the Final Order is entered. For the avoidance of doubt, the Borrower shall not be required to draw the full amount of the Term Commitments. Borrowing requests under the DIP Facility shall be made (i) on three business days’ notice, in the case of Loans bearing interest at a rate based on LIBOR (“LIBOR Loans”) and (ii) on one business day’s notice, in the case of Loans bearing interest based on the Alternate Base Rate (“ABR Loans”). Currency: Borrowings will be made in U.S. Dollars. All payments under the DIP Facility will be made without setoff or counterclaim.
Sample 1
Borrowing Procedure. Under the Credit Facility. Advances shall be made as follows: (i) in the case of a Base Rate Advance, on notice from the Company to the Administrative Agent received by the Administrative Agent no later than 10:00 A.M. (Eastern time) on the date of such proposed Advance, specifying the amount thereof; and (ii) in the case of a Eurodollar Rate Advance, on notice from the Company to the Administrative Agent at least three (3) Business Days prior to the date of such proposed Advance. The Administrative Agent will use its best efforts to give telephone notice of a proposed Advance on the same day such notice is received by the Administrative Agent from the Company. Not later than 2:00 P.M. (Eastern time) on the date of such Advance and upon fulfillment of the applicable conditions set forth in Sections 7A and 7B (in the case of Advances under the Line of Credit and under the Acquisition Loan for the Acquisition) and Section 8 (in the case of each other Advance under the Line of Credit), the Lenders will make such Advance available to the Administrative Agent, which shall make such total Advance available to the Company in same day funds at the Administrative Agent's office at 100 Xxxxxxx Xxxxxx, Xxxxxx, Xxxxxxxxxxxxx. Xhe request for an Advance under the Line of Credit for any purpose other than the Acquisition shall constitute a certification by the Companies that all of the representations and warranties contained in Section 5 are true and correct as of the date of such request. Subject to the provisions of Section 9.2 hereof, the Lenders shall be obligated to fund Advances in proportion to their respective Commitments. The obligations of the Lenders under this Agreement shall be separate and
Sample 1

Examples of Borrowing Procedure in a sentence

  • Section 2.1. Commitments 24 Section 2.2. Revolving Credit Loans; Competitive Loans 24 Section 2.3. Competitive Bid Procedure 25 Section 2.4. Revolving Credit Borrowing Procedure 28 Section 2.5. Repayment of Loans 28 Section 2.6. Swingline Loans 28 Section 2.7. Letters of Credit 32 Section 2.8. Conversion and Continuation Options 36 Section 2.9. Fees 37 Section 2.10.

  • Any borrowing must be approved by Council following the Borrowing Procedure and assessment against Office for Students requirements and existing loan covenants.

  • Borrowing Procedure Under the Credit Facility .....................

  • Borrowing Procedure.............................................................

  • Section 2.3 of the Credit Agreement is hereby amended and restated in its entirety to read as follows: “SECTION 2.3 Borrowing Procedure.

  • Borrowing Procedure for Loans 5 Section 3.02 Notes 6 Section 3.03 Principal Payments 7 Section 3.04 Interest 8 Section 3.05 Method and Place of Payment 13 Section 3.06 Net Payments; Taxes 13 Section 3.07 Sharing of Payments by Lenders 17 Section 3.08 Post Default Order of Application of Funds 18 Section 4.01 Initial Loan 18 Section 4.02 All Loans 25 Section 5.01 Organization, etc.

  • THE LOANS 20 SECTION 2.1. Commitments 20 SECTION 2.2. Loans 21 SECTION 2.3. Use of Proceeds 22 SECTION 2.4. [RESERVED] 22 SECTION 2.5. Revolving Credit Borrowing Procedure 22 SECTION 2.6. Canadian Revolving Borrowing Procedure 22 SECTION 2.7. Refinancings 23 SECTION 2.8. Fees 24 SECTION 2.9. Repayment of Loans; Evidence of Debt 24 SECTION 2.10.

  • TC 21 SECTION 2.3 Commitment Fee, Unused Commitment Fee and Administrative Fees 22 SECTION 2.4 Increased Costs; Capital Adequacy 22 ARTICLE 3 LOANS AND NOTES 23 SECTION 3.1 Borrowing Procedure 23 SECTION 3.2 Notes 24 SECTION 3.3 Principal Payments 24 SECTION 3.3.1 Repayments and Prepayments 24 SECTION 3.3.2 Prepayment Fees 27 SECTION 3.

  • Loans may consist of Base Rate Portions or Eurodollar Rate Portions, as elected by the Borrower pursuant to Section 2.2 or ----------- Section 3.5. ----------- Borrowing Procedure.

  • ADMINISTRATIVE MATTERS 22 Section 6.1. Borrowing Procedure 22 Section 6.2. Minimum Amounts 22 Section 6.3. Certain Notices 23 Section 6.4. Prepayments 24 Section 6.5. Method of Payment 24 Section 6.6. Pro Rata Treatment 24 Section 6.7. Sharing of Payments 25 Section 6.8. Non-Receipt of Funds by the Agent 25 Section 6.9. Withholding Taxes 26 Section 6.10.

Related to Borrowing Procedure

  • Borrowing means Loans of the same Type, made, converted or continued on the same date and, in the case of Eurodollar Loans, as to which a single Interest Period is in effect.

  • Mandatory Borrowing shall have the meaning provided in Section 2.1(d).

  • RFR Borrowing means, as to any Borrowing, the RFR Loans comprising such Borrowing.

  • Fixed Rate Borrowing means a Borrowing comprised of Fixed Rate Loans.

  • Request for Borrowing has the meaning provided in Section 2.3(a).

  • Eurocurrency Revolving Facility Borrowing means a Borrowing comprised of Eurocurrency Revolving Loans.

  • Notice of Borrowing has the meaning specified in Section 2.02(a).

  • Notice of Swingline Borrowing shall have the meaning set forth in Section 2.4.

  • L/C Borrowing means an extension of credit resulting from a drawing under any Letter of Credit which has not been reimbursed on the date when made or refinanced as a Revolving Credit Borrowing.

  • Swingline Borrowing means a Borrowing comprised of Swingline Loans.

  • SOFR Borrowing means, as to any Borrowing, the SOFR Loans comprising such Borrowing.

  • Revolving Borrowing means a borrowing consisting of simultaneous Revolving Loans of the same Type and, in the case of Eurodollar Rate Loans, having the same Interest Period made by each of the Lenders pursuant to Section 2.01.

  • Base Rate Borrowing means a Borrowing comprised of Base Rate Loans.

  • Swingline Borrowing Request means a request by a Borrower substantially in the form of Exhibit C-2.

  • Eurodollar Rate Borrowing means a Borrowing comprised of Eurodollar Rate Loans.

  • ABR Revolving Facility Borrowing means a Borrowing comprised of ABR Revolving Loans.

  • Notice of Revolving Credit Borrowing has the meaning specified in Section 2.02(a).

  • Borrowing Tranche means specified portions of Loans outstanding as follows: (i) any Loans to which a LIBOR Rate Option applies which become subject to the same Interest Rate Option under the same Loan Request by the Borrower and which have the same Interest Period shall constitute one Borrowing Tranche, and (ii) all Loans to which a Base Rate Option applies shall constitute one Borrowing Tranche.

  • Notice of Revolving Borrowing shall have the meaning as set forth in Section 2.3.

  • Initial Revolving Borrowing means one or more borrowings of Revolving Credit Loans or issuances or deemed issuances of Letters of Credit on the Closing Date as specified in the definition of the term “Permitted Initial Revolving Borrowing.”

  • LIBOR Borrowing means a Borrowing comprised of LIBOR Rate Loans.

  • Term SOFR Borrowing means a Borrowing comprised of Term SOFR Loans.

  • ABR Borrowing means a Borrowing comprised of ABR Loans.

  • Notice of Committed Borrowing has the meaning specified in Section 2.02(a).

  • Borrowing Request means a request by the Borrower for a Revolving Borrowing in accordance with Section 2.03.

  • Initial Borrowing means the first Borrowing made pursuant to this Agreement.

Most Referenced Clauses

Most Referenced Definitions