Examples of Designated Lending Office in a sentence
Payments must be received at the Designated Lending Office not later than 11:00 A.M. (Cleveland, Ohio time) to be deemed to have been made and received on that day.
On the date that the Credit Event set forth in such Notice of Loan is to occur, each such Applicable Lender shall provide to Agent at the Designated Lending Office, not later than 3:00 P.M. (Eastern time), the amount in Dollars, or, with respect to the Canadian Commitment, in Canadian Dollars, in federal or other immediately available funds, required of it.
All such payments shall be remitted by Canadian Borrowers to Agent at the Designated Lending Office, for the account of the Canadian Lenders, not later than 1:00 P.M. (Eastern time) on the due date thereof in same day funds.
Canadian Borrowers shall pay to Agent at the Designated Lending Office, for the ratable account of the Canadian Lenders, as a consideration for the Canadian Commitment, a facility fee from the Closing Date to and including the last day of the Commitment Period, payable quarterly, at a rate per annum equal to (A) the Applicable Facility Fee Rate in effect on the payment date, times (B) the average daily Maximum CAD Revolving Amount in effect during such quarter.
Any payments received by the Designated Lending Office after 1:00 P.M. (Eastern time) shall be deemed to have been made and received on the next Business Day.
The Lender that acts as the Designated Lending Office of Agent from time to time shall be entitled to the same indemnifications with respect to Borrowers and the other Lenders that Agent would have were it performing the administrative duties that the Designated Lending Office performs from time to time.
Agent (or the Designated Lending Office, as appropriate) shall also have the right to receive interest from such Lender at the Federal Funds Effective Rate (or cost of funds with respect to the Designated Lending Office) in the event that such Lender shall fail to provide its portion of the Loan on the date requested and Agent (or the Designated Lending Office, as appropriate) shall elect to provide such funds.
All such payments shall be remitted by Canadian Borrower to the Canadian Funding Agent at the Designated Lending Office, for the account of the Canadian Lenders, not later than 1:00 P.M. (Eastern time) on the due date thereof in same day funds.
Payments received at the Designated Lending Office in CAD shall be delivered to the Canadian Banks in same day funds.
All payments described in this subsection (c) shall be remitted to the Global Agent at its Designated Lending Office for the account of the appropriate Lenders not later than 11:00 A.M. (Cleveland, Ohio time) on the due date thereof in immediately available funds.