Loan Management Service definition

Loan Management Service means Lender’s proprietary automated loan management program currently known as “Loan Manager” and any successor service or product of Lender which performs similar services.

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Loan Management Service means Lender’s proprietary automated loan management program that controls the manner in which funds are transferred between the Designated Account and the Revolving Loan for credit or debit to the Revolving Loan, or any successor service or product that performs similar service.

Loan Management Service means Agent's proprietary automated loan management program currently known as "Loan Manager" and any successor service or product of Agent which performs similar services.

Examples of Loan Management Service in a sentence

• Provided Lender has not separately agreed that Borrowers may use the Loan Management Service, each Borrowing shall be made by a written request by an Authorized Person delivered to Lender.

• Lender shall have no obligation to make an Advance through the Loan Management Service after the occurrence of a Default or an Event of Default, or in an amount in excess of Availability, and may terminate the Loan Management Service at any time in its sole discretion.

• Lender shall have no obligation to make an Advance through the Loan Management Service after the occurrence and during the continuance of a Default or an Event of Default, or in an amount in excess of Availability, and may terminate the Loan Management Service at any time in its sole discretion.

• Lender shall have no obligation to make a Revolving Loan advance through the Loan Management Service after the occurrence of a Default or Event of Default, or in an amount that would result in the Lender’s Revolving Credit Exposure exceeding the Revolving Commitment as set forth in Section 2.2 of this Agreement.

• If Lender terminates Borrower’s access to the Loan Management Service, Borrower may continue to request advances as provided in Section 2.3, subject to the other terms and conditions of this Agreement.

• If Lender has separately agreed that Borrower may use the Loan Management Service, Borrower shall not request and Lender shall no longer honor a Notice of Revolving Borrowing in accordance with Section 2.3 and all Borrowings will instead be initiated by Lender and credited to the Designated Account as Borrowings as of the end of each Business Day in an amount sufficient to maintain an agreed upon ledger balance in the Designated Account.

• Agent shall have no obligation to make a Borrowing through the Loan Management Service after the occurrence of a Default or an Event of Default, or in an amount in excess of the limits set forth in Section 2.1, and may terminate the Loan Management Service at any time in its sole discretion.

• If Lender has not separately agreed that Borrower may use the Loan Management Service, the Lender will make available each Loan to be made by it hereunder on the proposed date thereof by crediting the amount of such Loan, in immediately available funds, by the close of business on such proposed date, to the Designated Account or, at the Borrower’s option, by effecting a wire transfer of such amounts to an account designated by the Borrower to the Lender.

• For the avoidance of doubt, US Borrowers’ use of the Loan Management Service shall not limit UK Borrowers’ ability to request UK Borrowings in accordance with Section 2.3(a) solely to the extent that the UK Borrowers do not use the Loan Management Service.

• If Lender has separately agreed that Borrower may use the Loan Management Service, each Borrowing shall initially be made as a Daily One Month LIBOR Borrowing.

More Definitions of Loan Management Service

Loan Management Service means any treasury and/or loan management service offered by Wells Fargo and in effect for the Operating Account ▇▇▇▇▇gh which loans and payments thereon may be initiated automatically from time to time as permitted pursuant to the terms of this Agreement, including but not limited to Stagecoach Sweep® ‑ Credit Sweep; provided, however, that any of the Administrative Agent, the Swingline Lender, Wells Fargo or any Borrower at any time may terminat▇ ▇▇▇ Loan Management Service in its Sole Discretion by giving notice to each of the Administrative Agent, the Swingline Lender, Wells Fargo and the Borrowers.