Primary Alternate Currency definition
Examples of Primary Alternate Currency in a sentence
The occurrence of any conversion of Primary Alternate Currency Revolving Loans or Canadian Revolving Loans as provided above in this Section 2.16(b) shall be deemed to constitute, for purposes of Section 2.11, a prepayment of the respective Primary Alternate Currency Revolving Loans or Canadian Revolving Loans before the last day of any Interest Period or maturity relating thereto.
The Competitive Bid Loans shall be denominated in an Approved Alternate Currency, provided that the aggregate outstanding principal amount of all Competitive Bid Loans denominated in an Approved Alternate Currency, when added to the aggregate outstanding principal amount of all Revolving Loans denominated in a Primary Alternate Currency, shall not exceed the Alternate Currency Sublimit at any time.
The occurrence of any conversion of Primary Alternate Currency Revolving Loans or Canadian Revolving Loans as provided above in this Section 1.16(b) shall be deemed to constitute, for purposes of Section 1.11, a prepayment of the respective Primary Alternate Currency Revolving Loans or Canadian Revolving Loans before the last day of any Interest Period or maturity relating thereto.
Each Alternate Currency RL Lender which has a Primary Alternate Currency Revolving Sub-Commitment shall maintain a record with respect to Bankers’ Acceptances (i) received by it from the Alternate Currency Revolving Loan Borrower in blank hereunder, (ii) voided by it for any reason, (iii) accepted by it hereunder, (iv) purchased by it hereunder, and (v) canceled at their respective maturity dates.
Each Alternate Currency RL Lender which has a Primary Alternate Currency Revolving Sub-Commitment shall be obligated to make the Canadian Prime Rate Loan contemplated under this clause (j) regardless of whether the conditions precedent to borrowing set forth in the Credit Agreement are then satisfied.
For the purposes of the Credit Agreement and this Schedule III, all Bankers’ Acceptances shall be considered a utilization of the Primary Alternate Currency Revolving Sub-Commitments and the Revolving Loan Commitments in an amount equal to the aggregate Face Amount of such Bankers’ Acceptances.
The aggregate Face Amount of Bankers’ Acceptances to be accepted by an Alternate Currency RL Lender shall be determined by the Administrative Agent by reference to the respective Alternate Currency RL Percentages related to the Primary Alternate Currency Revolving Sub-Tranche of the Alternate Currency RL Lenders, except that, if the Face Amount of the Bankers’ Acceptance, that would otherwise be accepted by an Alternate Currency RL Lender, would not be Cdn.
The occurrence of any conversion of Primary Alternate Currency Revolving Loans as provided above in this Section 1.16(b) shall be deemed to constitute, for purposes of Section 1.11, a prepayment of the respective Primary Alternate Currency Revolving Loans before the last day of any Interest Period relating thereto.
Promptly following receipt of a notice of borrowing, conversion or continuation by way of Bankers’ Acceptances, the Administrative Agent shall so advise the Alternate Currency RL Lenders with a Primary Alternate Currency Revolving Sub-Commitment and shall advise each such Alternate Currency RL Lender of the Face Amount of each Bankers’ Acceptance to be accepted by it and the term thereof.
Each Alternate Currency RL Lender which has a Primary Alternate Currency Revolving Sub-Commitment is hereby authorized (in accordance with a Notice of Borrowing related to such Bankers’ Acceptance) to issue such Bankers’ Acceptances endorsed in blank in such Face Amounts as may be determined by such Alternate Currency RL Lender, provided that the aggregate amount thereof is equal to the aggregate amount of Bankers’ Acceptances required to be accepted by such Alternate Currency RL Lender.