Examples of SOFR Revolving Loan in a sentence
Borrowings also may be classified and referred to by Class (e.g., a “Revolving Loan Borrowing”) or by Type (e.g., a “Term SOFR Borrowing”) or by Class and Type (e.g., a “Term SOFR Revolving Loan Borrowing”).
Each Lender at its option may make any ABR Loan or SOFR Revolving Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan; provided that any exercise of such option will not affect the obligation of the Borrower to repay such Loan in accordance with the terms of this Agreement and such Lender will not be entitled to any amounts payable under Section 2.15 or 2.17 solely in respect of increased costs resulting from such exercise and existing at the time of such exercise.
Borrowings also may be classified and referred to by Class (e.g., a “Revolving Loan Borrowing”) or by Type (e.g., a “EurocurrencyTerm SOFR Borrowing”) or by Class and Type (e.g., a “Term SOFR Revolving Loan Borrowing”).
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Each Lender shall transfer its Pro Rata Share of the requested Borrowing to the Agent in immediately available funds (in CDN Dollars if the requested Borrowing is a Prime Rate Revolving Loan or a BA EquivalentCORRA Revolving Loan and in U.S. Dollars if the requested Borrowing is a Base Rate Revolving Loan or a SOFR Revolving Loan), to the account in Canada from time to time designated by the Agent, not later than 1:00 p.m. (Toronto time) on the applicable Funding Date.
If a Borrower is required to so prepay any SOFR Revolving Loans or BA EquivalentCORRA Revolving Loans, then concurrently with such prepayment, such Borrower shall borrow from the affected Lender, in the amount of such repayment, in the case of SOFR Revolving Loan, a Base Rate Revolving Loan and, in the case of BA EquivalentCORRA Revolving Loans, Canadian Prime Rate Revolving Loans.
Upon receipt of such notice, a Borrower may revoke any Notice of Borrowing or Notice of Continuation/Conversion then submitted by it with respect to a SOFR Revolving Loan.
For purposes of this Agreement, Loans may beclassified and referred to by Class (e.g., a “Revolving Loan ”) or by Type (e.g., a “Eurodollar Loan ” or “Term SOFR Loan” ) or by Class and Type (e.g., a “Eurodollar Term SOFR Revolving Loan ”).
Upon delivery of such notice, Borrower shall either prepay the Term SOFR Revolving Loans or convert the Term SOFR Revolving Loans of such Lender to Base Rate Revolving Loans, either on the last day of the Interest Period therefor, if such Lender may lawfully continue to maintain the Term SOFR Revolving Loan and charge applicable interest to such day, or immediately, if such Lender cannot so maintain such Term SOFR Revolving Loan.
Borrowings also may be classified and referred to by Class (e.g., a “Revolving Loan Borrowing”) or by Type (e.g., a “Eurocurrency Borrowing”) or by Class and Type (e.g., a “EurocurrencyTerm SOFR Revolving Loan Borrowing”).