Existing Revolving Loan definition
Examples of Existing Revolving Loan in a sentence
On the Effective Date, the Outstanding Existing Revolving Loan Balance shall be continued, for all purposes of this Agreement, as Revolving Loans (as such term is defined below) hereunder.
Upon the maturity date of any tranche of Existing Revolving Loan Commitments, the sublimit for Swing Loans may be reduced as agreed between the Swingline Lender and the Parent Borrower, without the consent of any other Person.
The Borrower may, by written notice to the Revolving Loan Lender no later than 90 days prior to the Revolving Loan Commitment Termination Date then in effect (the "Existing Revolving Loan Commitment Termination Date"), request that the Revolving Loan Lender extend the Revolving Loan Commitment Termination Date to the date proposed by the Borrower in such notice.
If the Revolving Loan Lender shall not have provided notice of its extension of the Existing Revolving Loan Commitment Termination Date 60 days prior thereto, the Revolving Loan Lender shall be deemed to have declined to extend the Existing Revolving Loan Commitment Termination Date.
If any such extension of the Existing Revolving Loan Commitment Termination Date shall not become effective, then the Revolving Loan Commitment shall reduce to zero on the Existing Revolving Loan Commitment Termination Date, and the Revolving Loan Commitment Termination Date shall remain the Existing Revolving Loan Commitment Termination Date.