Notice of Auction Borrowing definition

Notice of Auction Borrowing has the meaning specified in Section 2.03(a).

Notice of Auction Borrowing has the meaning specified in Section 2.03(a). OECD means the Organization for Economic Cooperation and Development. PBGC means the Pension Benefit Guaranty Corporation and any entity succeeding to any or all of its functions under ERISA. Person means an individual, partnership, corporation (including a business trust), joint stock company, trust, unincorporated association, joint venture or other entity, or a government or any political subdivision or agency thereof. Prepayment Event means the occurrence of any event or the existence of any condition under any agreement or instrument relating to any Debt of the Borrower or of a Significant Subsidiary that, in either case, is outstanding in a principal amount in excess of $50,000,000 in the aggregate, which occurrence or event results in the declaration of such Debt being due and payable, or required to be prepaid (other than by a regularly scheduled required prepayment), prior to the stated maturity thereof. Reference Banks means Citibank, The Bank of New York and Union Bank of Switzerland. Register has the meaning specified in Section 8.07c. Reportable Event has the meaning assigned to that term in Title IV of ERISA. S&P means Standard & Poor's Rating Group or any successor thereto. SEC means the United States Securities and Exchange Commission. SEC Order has the meaning specified in Section 3.01(a)(iii). Senior Debt Rating means, as to any Person, the rating assigned by Moody's or S&P to the senior secured long-term debt of such Person. SERI means Systems Energy Resources, Inc., an Arkansas corporation. Significant Subsidiary means LP&L, SERI, AP&L, MP&L, GSU, and any other subsidiary of the Borrower: (i) the total assets (after intercompany eliminations) of which exceed 5% of the total assets of the Borrower and its subsidiaries or (ii) the net worth of which exceeds 5% of the Consolidated Net Worth of the Borrower and its subsidiaries, in each case as shown on the most recent audited consolidated balance sheet of the Borrower and its subsidiaries. Support Obligations means any financial obligation, contingent or otherwise, of any Person guaranteeing or otherwise supporting any Debt or other obligation of any other Person in any manner, whether directly or indirectly, and including, without limitation, any obligation of such Person, direct or indirect, (i) to purchase or pay (or advance or supply funds for the purchase or payment of) such Debt or to purchase (or to advance or supply funds for the purcha...

Notice of Auction Borrowing shall have the meaning set forth in Section 3.1(a)(i), and to the extent such notice is given in writing, shall be in a form substantially similar to Schedule 5 hereto.

Examples of Notice of Auction Borrowing in a sentence

• The Administrative Agent shall in turn promptly notify (by telecopy) each Bank of each request for an Auction Borrowing received by it from the Borrower and of the terms contained in such Notice of Auction Borrowing.

• The Administrative Agent shall in turn promptly notify each Lender of each request for an Auction Borrowing received by it from the Borrower by sending such Lender a copy of the related Notice of Auction Borrowing.

• The Agent shall in turn promptly notify each Lender of each request for an Auction Borrowing received by it from the Borrower by sending such Lender a copy of the related Notice of Auction Borrowing.

• The Borrower shall have no right to prepay any principal amount of any Fixed Rate Auction Advance unless, and then only on the terms, specified by the Borrower for such Fixed Rate Auction Advance in the related Notice of Auction Borrowing delivered pursuant to subsection (a)(i) above and set forth in the Auction Note evidencing such Fixed Rate Auction Advance.

• The Borrower shall have no right to prepay any principal amount of any Auction Advance unless, and then only on the terms, specified by the Borrower for such Auction Advance in the related Notice of Auction Borrowing delivered pursuant to subsection (a)(i)(A) above and set forth in the Auction Note evidencing such Auction Advance.

• The Borrower shall have no right to prepay any principal amount of any Auction Advance unless, and then only on the terms, specified by the Borrower for such Auction Advance in the related Notice of Auction Borrowing delivered pursuant to subsection (a)(i) above (whether verbally or otherwise) and set forth in the corresponding Notice of Auction Offer and further noted in the Auction Note evidencing such Auction Advance.

• A Borrower shall have no right to prepay any principal amount of any Auction Advance unless, and then only on the terms, specified by such Borrower for such Auction Advance in the related Notice of Auction Borrowing delivered pursuant to subsection (a)(i)(A) above and set forth in the Auction Note evidencing such Auction Advance.

• The Agent, in turn, shall promptly notify each Lender of each request for an Auction Borrowing received by it from a Borrower by sending such Lender a copy of the related Notice of Auction Borrowing.