Interim Lender definition
Examples of Interim Lender in a sentence
If a Market Disruption Notice is given in respect of a proposed Disrupted Loan, the interest rate applicable on each Interim Lender's participation in that Disrupted Loan will be the rate certified by that Interim Lender to the Interim Facility Agent no later than five (5) Business Days after the Rate Fixing Day to be its cost of funds (from any source which it may reasonably select) plus the Margin.
If the Interim Facility Agent receives such notification from an Interim Lender it shall promptly notify the relevant Obligor.
In this case, the Interim Lender and its Affiliate will be treated as having a single Interim Commitment and a single vote, but, for all other purposes, will be treated as separate Interim Lenders.
Nothing in this Agreement shall oblige any Agent or any Arranger to carry out know your customer or other checks in relation to any person on behalf of any Interim Lender and each Interim Lender confirms to the Agents and the Arrangers that it is solely responsible for any such checks it is required to carry out and that it may not rely on any statement in relation to such checks made by the Agents or the Arrangers.
If the Interim Facility Agent receives any such notification from an Interim Lender it shall promptly (but in any event where it is possible to do so at least four (4) Business Days prior to the next interest payment date) notify the relevant Obligor.