Participant Borrower definition

Participant Borrower means a Participant acting in the capacity of a borrower as to any Outstanding Loan Balance or any Revenue Anticipation Loan.
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Examples of Participant Borrower in a sentence

  • Each Participant Loan shall be made or incurred pursuant to Board Resolutions duly adopted by the Governing Body of each Participant Borrower and Participant Lender; provided, however, that any Governing Body may delegate to an Authorized Officer the authority to approve the making or incurring of Revenue AnticipationLoans only to the extent that the aggregate principal amount of outstanding Revenue Anticipation Loans to which the Participant is a party does not exceed $50,000.

  • For all purposes of this Master Agreement, the Administrator shall be prohibited from acting as a Participant Borrower with respect to any Revenue Anticipation Loan that does not arise from the conversion of an Outstanding Loan Balance to the Administrator as provided in Section 2.02.

  • TableClause Description clause 4.1.2 Notice of tariffs clause 4.1.3 Variations (4) For the purposes of subregulation (3), a reference in clause 4.1.2 or 4.1.3 of the AGA Code to tariffs is to be read as a reference to any fees or charges payable by a customer under a customer contract.15.

  • Each Participant Borrower shall repay its Revenue Anticipation Loan solely from its Eligible Funds.

  • In addition to the requirements set forth in Section 3.02, each Participant Borrower covenants and agrees, at all times to keep, or cause to be kept, proper books of record and account, prepared in accordance with GAAP, consistently applied, in which complete and accurate entries shall be made of all transactions of or in relation to the business, properties and operations of the Participant Borrower.

  • From time to time, pursuant to a Board Resolution of its Governing Body, any Participant may elect, in accordance with the terms and conditions of this Article III, to act as a Participant Borrower or a Participant Lender with regard to a Revenue Anticipation Loan made or incurred hereunder.

  • Each Participant Borrower shall repay its Revenue Anticipation Loan with Eligible Funds no later than the end of the Fiscal Year in which said Revenue Anticipation Loan is made hereunder.

  • Accordingly, if any payment on the Revenue Anticipation Loan due from the Lessee shall not be received in full by the Participant Lender (or the Administrator acting on behalf of the Participant Lender) on the date such amount is due, then the Participant Borrower shall pay to the Participant Lender an amount equal to the costs incurred by the Participant Lender or the Administrator directly as a result of such late payment.

  • Participant Borrower waives diligence, presentment, protest and demand, notice of protest, notice of dishonor and notice of nonpayment of this Promissory Note.

  • As Administrator and not as a Participant, the Administrator shall assist each Participant Lender and Participant Borrower with processing of and funds transfer and recordkeeping for each Revenue Anticipation Loan authorized pursuant to a duly adopted Board Resolution of the Governing Body of each Participant therein, including without limitation, the maintenance of the applicable ledger as provided in Section 3.02.

Related to Participant Borrower

  • Participating Lender has the meaning set forth in Section 2.05(a)(v)(C)(2).

  • Designated Participant means such employees or officers of the Company or a related entity of the Company as the Board may designate from time to time as eligible to participate in the Plan;

  • Participant has the meaning specified in Section 10.06(d).

  • Issuing Lender means, with respect to any Letter of Credit, the Lender which agrees or is otherwise obligated to issue such Letter of Credit, determined as provided in subsection 3.1B(ii).

  • Swingline Lender means JPMorgan Chase Bank, N.A., in its capacity as lender of Swingline Loans hereunder.

  • Participating Banks means the list of Banks as set out in Table 2 below.

  • Borrower Representative has the meaning assigned to such term in Section 11.01.

  • Appropriate Lender means, at any time, (a) with respect to Loans of any Class, the Lenders of such Class, (b) with respect to Letters of Credit, (i) the relevant L/C Issuer and (ii) the Revolving Credit Lenders and (c) with respect to the Swing Line Facility, (i) the Swing Line Lender and (ii) if any Swing Line Loans are outstanding pursuant to Section 2.04(a), the Revolving Credit Lenders.

  • CDS Participant means a participant in CDS that holds security entitlements in Units on behalf of beneficial owners of those Units;