Multicurrency Tranche definition
Examples of Multicurrency Tranche in a sentence
Each of the Administrative Agent, each Loan Party, each Increasing Lender and each Multicurrency Tranche Lender hereby acknowledges and agrees that the Commitments and Applicable Percentages with respect to each Lender as set forth on Annex B hereto will be the Commitments and Applicable Percentages of such Lender on the Fourth Amendment Effective Date immediately after giving effect to this Agreement.
Multicurrency Tranche Loans may be Base Rate Loans, Daily SOFR Loans, Term SOFR Loans, Alternative Currency Daily Rate Loans or Alternative Currency Term Rate Loans, as further provided herein; provided that Multicurrency Tranche Loans that constitute Base Rate Loans shall be available (whether by virtue of incurrence, conversion or otherwise) only to the Parent Borrower.
If the Parent Borrower fails to specify a Tranche in a Committed Loan Notice requesting a Revolving Credit Borrowing, then the Revolving Credit Loans so requested shall be made as Dollar Tranche Loans if the request specifies Dollars (or does not specify a currency) and as Multicurrency Tranche Loans if the request specifies an Alternative Currency or if no unused Dollar Tranche Commitments exists.
Within the limits of each Revolving Credit Lender’s Multicurrency Tranche Commitment, and subject to the other terms and conditions hereof, the Borrowers may borrow under this Section 2.01(b)(ii), prepay under Section 2.05, and reborrow under this Section 2.01(b)(ii).
In the case of any such request with respect to the making of Multicurrency Tranche Loans, such request shall be subject to the approval of the Administrative Agent and each Multicurrency Tranche Lender.
Each Multicurrency Tranche Lender shall notify the Administrative Agent, not later than 11:00 a.m., ten (10) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Multicurrency Tranche Loans in such requested currency.