Examples of Initial Availability Period in a sentence
Exempt Refinancing The defined terms referred to in limb (c)(vi) should follow those contained in the Senior Funding Agreements – the Initial Availability Period being the construction phase drawdown period.
Each Delayed Draw Lender’s Delayed Draw Loan Commitment (other than any Upsize Delayed Draw Loan Commitment provided on the Amendment No. 1 Effective Date) expired on the last day of the Initial Availability Period after giving effect to any funding of such Delayed Draw Lender’s Delayed Draw Loan Commitment on such date.
Letter of Credit Fees shall be (a) computed on a quarterly basis in arrears and (b) due and payable on the last Business Day of each March, June, September and December, on the last day of the Initial Availability Period for the Canadian Letters of Credit, on the Letter of Credit Expiration Date for all other Letters of Credit, and thereafter on demand.
No amount prepaid pursuant to this clause 7.3 after the end of the Initial Availability Period shall be available for redrawing and the relevant amount set out in clause 4.1.1 shall be reduced by the amount cancelled.
If the Original Borrower has notified the Agent in writing not earlier than 45 Banking Days and not later than 30 Banking Days prior to the end of the Initial Availability Period that all or part of the Loan is to convert to a term loan, then the Borrowers shall not be obliged to repay any Advances whose Maturity Date is the last day of the Availability Period, but on such day such Advances shall be consolidated and converted into a term loan and shall instead be repaid on or before 31 March 2003.