Examples of Dollar Denominated Loan in a sentence
Subject to the terms and conditions of this Agreement, each Borrowing shall be of a Dollar Denominated Loan (which shall either be a Base Rate Loan or a LIBOR Rate Loan) or a European Denominated Loan (which shall either be a Euro Denominated Loan or a Sterling Denominated Loan).
Each Swing Loan shall be deemed to be a Revolving Loan which is a Dollar Denominated Loan hereunder and shall be subject to all the terms and conditions (including Section 3) applicable to other Revolving Loans, except that all payments (including interest) on any Swing Loan shall be payable to Swing Lender solely for its own account.
If Borrower fails to specify whether a requested Loan is to be a Dollar Denominated Loan or a European Denominated Loan, such requested Loan shall be a Dollar Denominated Loan which is a Base Rate Loan.
Thereafter, (i) the obligation of the Banks to make or maintain Eurocurrency Rate Loans in the affected currency or Term SOFR Loans hereunder, as applicable, shall be suspended and (ii) each outstanding Loan in the affected currency shall be prepaid (or, in the case of a Dollar- Denominated Loan, converted into a Base Rate Loan) on the last day of the then current Interest Period applicable thereto until the Administrative Agent revokes such notice in writing.
If any Borrower (or Administrative Borrower on behalf of such Borrower) fails to specify whether a requested Loan is to be a Dollar Denominated Loan or a European Denominated Loan, such requested Loan shall be a Dollar Denominated Loan which is a Base Rate Loan.