Committed Loan Notice definition
Examples of Committed Loan Notice in a sentence
Administrative Agent shall have received a completed Committed Loan Notice and/or Letter of Credit Application, duly executed by a Responsible Officer of Borrower Representative with respect to any Credit Extensions to be made on the Closing Date.
If the Lead Borrower requests a Borrowing of, Conversion to, or continuation of LIBOR RateTerm SOFR Loans in any such Committed Loan Notice, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one month.
Each such notice must be received by the Administrative Agent not later than 11:00 a.m. (New York time) three (3) Business Days before the requested date of such Borrowing; provided that, for the Borrowing on the Closing Date, the Committed Loan Notice may be delivered to the Administrative Agent one (1) Business Day before the requested date of pre-funding of such Borrowing (or if there is no -pre-funding, the Closing Date).
All Borrowings made on the Closing Date must be made as BR Borrowings unless Borrower Representative shall have given a Committed Loan Notice requesting a SOFR Borrowing and provided an indemnity letter in form and substance satisfactory to Administrative Agent extending the benefits of Section 3.5 to the Lenders in respect of such Borrowings.
Each telephonic notice by the Lead Borrower pursuant to this Section 2.02(b) must be confirmed promptly by delivery to the Administrative Agent of a written Committed Loan Notice, appropriately completed and signed by a Responsible Officer of the Lead Borrower.