Examples of Revolving Loan Administrative Agent in a sentence
The Revolving Loan Administrative Agent shall determine the Spot Rates as of each Revaluation Date to be used for calculating the Dollar Equivalent of Credit Extensions and amounts outstanding hereunder denominated in Alternate Currencies.
An Issuer will notify the applicable Borrower and the Revolving Loan Administrative Agent promptly of the presentment for payment of any Letter of Credit issued by such Issuer, together with notice of the date (the “Disbursement Date”) such payment shall be made (each such payment, a “Disbursement”).
Prior to 11:00 a.m. (California time) on the date of a Revolving Loan, Administrative Agent shall, subject to the satisfaction of the conditions set forth in Section 2.2, disburse the amount of the requested Revolving Loan by deposit into the Demand Deposit Account or by wire transfer pursuant to Borrower’s written instructions.
Except for purposes of financial statements delivered by the Company hereunder or calculating financial covenants hereunder or except as otherwise provided herein, the applicable amount of any Currency for purposes of the Loan Documents shall be such Dollar Equivalent as so determined by the Revolving Loan Administrative Agent.
Wherever in this Agreement in connection with a Credit Extension, conversion, continuation or prepayment of a Loan, an amount, such as a required minimum or multiple amount, is expressed in Dollars, but such Credit Extension is denominated in an Alternate Currency, such amount shall be the relevant Alternate Currency Equivalent of such Dollars, as determined by the Revolving Loan Administrative Agent.
The Revolving Loan Administrative Agent will promptly notify the Borrowers and the Lenders of any such redenomination and in such notice by the Revolving Loan Administrative Agent to each Lender the Revolving Loan Administrative Agent will state the aggregate Dollar Equivalent amount of the redenominated Alternate Currency Loans as of the Revaluation Date with respect thereto and such Lender’s Percentage thereof.
Amounts payable by the Borrowers pursuant to this Section shall be deposited in immediately available funds with the Revolving Loan Administrative Agent and held as collateral security for the Reimbursement Obligations.
The Collateral Agent shall in all cases be fully protected in acting or refraining from acting under this Agreement or any of the Loan Documents upon written directions signed by the Term Loan Administrative Agent and the Revolving Loan Administrative Agent, except for any such actions (or restraint of actions) which constitute gross negligence or willful misconduct on the part of the Collateral Agent.
When all Defaults giving rise to the deemed disbursements under this Section have been cured or waived the Revolving Loan Administrative Agent shall return to the Borrowers all amounts then on deposit with the Revolving Loan Administrative Agent pursuant to this Section which have not been applied to the satisfaction of the Reimbursement Obligations.
Upon receipt of such notice, the Revolving Loan Administrative Agent shall use commercially reasonable efforts to arrange for the Lenders or other Eligible Assignees to provide such additional Commitments.