Purchasing Banks definition
Examples of Purchasing Banks in a sentence
Upon such sale, the Purchasing Bank or Purchasing Banks shall assume the Affected Bank's commitment, and the Affected Bank shall be released from its obligations hereunder to a corresponding extent.
Upon such sale, the Purchasing Bank or Purchasing Banks shall assume the Affected Bank’s commitment, and the Affected Bank shall be released from its obligations hereunder to a corresponding extent.
On or promptly after the Transfer Effective Date specified in such Commitment Transfer Supplement, the Purchasing Bank and the Administrative Agent, on behalf of such Purchasing Bank, shall open and maintain in the name of each Borrower a Loan Account with respect to such Purchasing Bank's Committed Rate Loans and Bid Loans to such Borrower.
To achieve the full amount of a requested increase and subject to the approval of the Administrative Agent, the Borrower may also invite one or more Purchasing Banks (each, an “Additional Commitment Bank”) to become Banks pursuant to a joinder agreement in form and substance satisfactory to the Administrative Agent and its counsel.
Upon its receipt of a duly completed Commitment Transfer Supplement executed by the assigning Bank and the Purchasing Bank, the Purchasing Bank's completed administrative questionnaire (unless the Purchasing Bank shall already be a Bank hereunder), and the Purchasing Bank's payment of a processing and recordation fee of $2,500, the Agent shall accept such Commitment Transfer Supplement and record the information contained therein in the Register.