Deemed Credit Request definition

Deemed Credit Request shall have the meaning set forth in Section 2.2(b).
Sample 1Sample 2Sample 3
Deemed Credit Request has the meaning specified in Section 2.3(b) of this Agreement.
Sample 1Sample 2Sample 3
Deemed Credit Request has the meaning specified in Section 0(b) of this Agreement.
Sample 1Sample 2

Examples of Deemed Credit Request in a sentence

  • Each Lender agrees that its obligation to make or participate in Revolving Advances pursuant to a Deemed Credit Request is absolute and unconditional and shall not be affected by any circumstance whatsoever, including the occurrence of any Default or Event of Default or the failure of any condition precedent.

  • Agent shall have the right to effectuate payment on any and all Obligations due and owing hereunder by a Deemed Credit Request as provided in Section 2.2(b).

  • The Borrowers shall be deemed to have made a request for a Revolving Advance (a "Deemed Credit Request"), which Deemed Credit Request shall be irrevocable upon any interest, principal, fee or other Obligation of the Borrowers hereunder becoming due, for a Revolving Advance comprised of a Domestic Rate Loan in an amount necessary to pay such interest, principal, fee or other Obligation.

  • In the event that the Borrower fails to make a timely reimbursement, together with any interest thereon, to the Agent on the date of any drawing on a Letter of Credit pursuant to this Section, such failure shall constitute a Deemed Credit Request requesting an Alternate Base Rate Loan in an aggregate amount equal to the amount reimbursable to the Letter of Credit Bank plus any interest thereon.

  • In the event the Administrative Agent has elected to have same day funding of Loans pursuant to this Section 2.4, the Administrative Agent shall notify each Revolving Credit Lender of such Credit Request or Deemed Credit Request pursuant to Section 2.2 above no later than 12:30 p.m. (local time at the Payment Office of the Administrative Agent) on the date received by telecopy, telephone or similar form of transmission.

  • In the event the Agent has elected to have same day funding of Revolving Credit Advances pursuant to this Section 2.4(b), the Agent shall notify each Bank of each Credit Request or Deemed Credit Request no later than 12:30 p.m. (Cleveland, Ohio time) on the date received by telecopy, telephone or similar form of transmission.

  • In the event that the Borrowers fail to make a timely reimbursement, together with any interest thereon, to the Administrative Agent on the date of any drawing on a Letter of Credit, such failure shall constitute a Deemed Credit Request requesting an Alternate Base Rate Advance to be made to the Borrowers in an aggregate amount equal to the amount reimbursable to the LC Issuer plus any interest thereon.

  • By allowing the imprecise and internally inconsistent writing of two assistants—months after the Attorney General ceased communication with them about the case—to constitute the forfeiture of the responsibilities of a constitutional officer, we set a dangerous precedent.

  • The Administrative Agent or the Designated European Administrative Agent designated for the Borrower for which a Credit Request is made, as the case may be, shall notify each Bank of a Credit Request or Deemed Credit Request not later than 1:00 p.m. (local time at the Payment Office of the Administrative Agent or such Designated European Administrative Agent, as the case may be) on the date received by telecopier, telephone or similar form of transmission.

  • For the avoidance of doubt, after giving effect to the Deemed Credit Request and any Revolving Credit Loan made pursuant to this Section 2.2(f) (including any Revolving Credit Loan deemed pursuant to the immediately following paragraph), the Borrowers shall be deemed to have reimbursed in full such drawing on such Letter of Credit.

Related to Deemed Credit Request

  • Letter of Credit Request shall have the meaning provided in Section 2.03(a).

  • Letter of Credit Application means an application and agreement for the issuance or amendment of a Letter of Credit in the form from time to time in use by the L/C Issuer.

  • Letter of Credit Related Person has the meaning specified therefor in Section 2.11(f) of the Agreement.

  • Letter of Credit Report means a certificate substantially the form of Exhibit H or any other form approved by the Administrative Agent.

  • FTR Credit Requirement means the amount of credit that a Participant must provide in order to support the FTR positions that it holds and/or for which it is bidding. The FTR Credit Requirement shall not include months for which the invoicing has already been completed, provided that PJMSettlement shall have up to two Business Days following the date of the invoice completion to make such adjustments in its credit systems. FTR Credit Requirements are calculated and applied separately for each separate customer account.

  • Swing Loan Request means a request for Swing Loans made in accordance with Section 2.5.2 [Swing Loan Requests] hereof.

  • Notice of Revolving Credit Advance has the meaning ascribed to it in Section 1.1(a).

  • Swing Line Loan Participation Certificate a certificate in substantially the form of Exhibit I.

  • Letter of Credit Reimbursement Agreement has the meaning specified in Section 2.4(e).

  • Swing Line Borrowing Notice is defined in Section 2.4.2.

  • Loan Request means a Loan request and certificate duly executed by an Authorized Officer of the Borrower substantially in the form of Exhibit B hereto.

  • Letter of Credit Reserve has the meaning set forth in Section 2.1.2(d).

  • Credit Application means any application for a Credit Account completed by You.

  • Notice of Swing Line Borrowing has the meaning specified in Section 2.02(b).

  • Swingline Loan Request has the meaning set forth in Section 2.06(b).

  • Acceptable Letter of Credit means a standby letter of credit, issued by a bank or financial institution acceptable to Bank in its Permitted Discretion, in form and substance satisfactory to Bank in its Permitted Discretion, in an amount equal to 105% of the Letter of Credit Usage, naming Bank as beneficiary to reimburse payments of drafts drawn under outstanding Letters of Credit.

  • LC Request a request for issuance of a Letter of Credit, to be provided by Borrower Agent to Issuing Bank, in form satisfactory to Agent and Issuing Bank.

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

  • Letter of Credit Advance means an advance made by any Issuing Bank or any Lender pursuant to Section 2.03(c).

  • Swing Line Loan Notice means a notice of a Swing Line Borrowing pursuant to Section 2.04(b), which, if in writing, shall be substantially in the form of Exhibit B.

  • Borrowing Notice is defined in Section 2.8.

  • Letter of Credit Amount the stated maximum amount available to be drawn under a particular Letter of Credit, as such amount may be reduced or reinstated from time to time in accordance with the terms of such Letter of Credit.

  • Borrowing Certificate means a Borrowing Certificate substantially in the form of Exhibit A.

  • Letter-of-Credit Right means a right to payment or performance under a letter of credit, whether or not the beneficiary has demanded or is at the time entitled to demand payment or performance. The term does not include the right of a beneficiary to demand payment or performance under a letter of credit.

  • Swing Line Note means the promissory note of the Borrowers substantially in the form of Exhibit C-2, payable to the order of the Swing Line Lender, evidencing the Swing Line Loans made by the Swing Line Lender.

  • Request for Letter of Credit means a written request for a Letter of Credit substantially in the form of Exhibit H, signed by a Responsible Official of Borrower, and properly completed to provide all information required to be included therein.