Examples of LIBOR Revolving Credit Loan in a sentence
Such notice shall be irrevocable and shall in each case specify (a) whether the Borrowing then being requested is to be a Borrowing of a LIBOR Revolving Credit Loan or an ABR Borrowing, (b) the date of such Revolving Credit Borrowing (which shall be a Working Day) and the amount thereof and (c) if such Borrowing is to be a Borrowing of LIBOR Revolving Credit Loans, the Interest Period with respect thereto.
In order to effect a Revolving Credit Borrowing, the Borrower shall hand deliver or telecopy to the Administrative Agent a Borrowing notice in the form of Exhibit F (a) in the case of a Borrowing of a LIBOR Revolving Credit Loan, not later than 2:00 p.m., New York City time, three Working Days before a proposed Borrowing, and (b) in the case of an ABR Borrowing, not later than 2:00 p.m., New York City time, on the day of a proposed Borrowing.
Not later than 1:00 p.m. on the proposed Borrowing date, each Lender will make available to the Agent, for the account of the Borrowers, at the Agent's Office in funds immediately available to the Agent, an amount equal to such Lender's Commitment Percentage of such Prime Rate Revolving Credit Loan or LIBOR Revolving Credit Loan, as the case may be.
The Borrowers may request a LIBOR Loan under the Revolving Credit Facility by giving the Agent a Notice of Borrowing (which notice shall be irrevocable) not later than 11:00 a.m. on the date three Business Days before the date on which the requested LIBOR Revolving Credit Loan is to be made; PROVIDED the Borrowers shall not be permitted to request, and the Lenders shall not be required to make, LIBOR Revolving Credit Loans at any time during the existence of an Event of Default.
Borrowers shall have the right prior to the Maturity Date, or one (1) month prior to the Maturity Date in the case of a LIBOR Revolving Credit Loan, to reborrow as provided in this Section 2.1, provided, that, all outstanding Revolving Credit Loans shall be due and payable jointly and severally by the Borrowers on the Maturity Date.