Revolving Loan definition
Examples of Revolving Loan in a sentence
Unless otherwise agreed by Lender and Borrowers, any Revolving Loan and any Capex Loan requested by ▇▇▇▇▇▇▇▇▇ and made by ▇▇▇▇▇▇ hereunder shall be made to the Designated Account.
In such event, the Borrower shall execute and deliver to (i) in the case of a Revolving Lender, a Revolving Loan Note, (ii) in the case of a Term Lender, a Term Loan Note and (iii) in the case of the Swingline Lender, a Swingline Loan Note.
Until each Revolving Lender funds its ABR Revolving Loan or risk participation pursuant to this Section 2.3 to refinance such Revolving Lender’s Applicable Percentage of any Swingline Loan, interest in respect of such Applicable Percentage shall be solely for the account of the Swingline Lender.
Borrowers shall pay Lender a Letter of Credit fee (the “Letter of Credit Fee”) (which fee shall be in addition to the fronting fees and commissions, other fees, charges and expenses set forth in Section 2.11(j)) that shall accrue at a per annum rate equal to the Revolving Loan SOFR Margin times the average amount of the Letter of Credit Usage during the immediately preceding month.
Borrowers may prepay the principal of any Revolving Loan at any time in whole or in part.