Sterling Borrowing definition

Sterling Borrowing means a borrowing hereunder consisting of Sterling Advances having the same Sterling Interest Period; provided that subject to the limitations in Section 2B.2(a) as to the number of permitted Sterling Interest Periods and subject to the provisions of Sections 2B.6, 2B.7 and 2B.8(c), on the last day of a Sterling Interest Period for a Sterling Borrowing, such Sterling Borrowing may be divided ratably to form multiple Sterling Borrowings (with the result that each UK Bank’s Sterling Advance as a part of each such multiple Sterling Borrowing is proportionately the same as its Sterling Advance as a part of such divided Sterling Borrowing) or combined with all or a ratable portion of one or more other Sterling Borrowings, the Sterling Interest Period for which also ends on such day, to form a new Sterling Borrowing, such division or combination to be made by notice from the UK Borrower given to the UK Administrative Agent not later than 11:00 A.M. on the third UK Business Day prior to the proposed division or combination specifying the date of such division or combination (which shall be a UK Business Day) and all other relevant information (such as the Sterling Borrowings to be divided or combined, the respective amounts of the Sterling Borrowings resulting from any such division, the relevant Sterling Interest Periods and such other information as the UK Administrative Agent may request), but in no event shall any Sterling Borrowing resulting from, or remaining after, any such division or combination be less than £5,000,000, and in all cases each UK Bank’s Sterling Advance as a part of each such combined, resultant or remaining Sterling Borrowing shall be proportionately the same as its Sterling Advances as a part of the relevant Sterling Borrowings prior to such division or combination and each combined, resultant or remaining Sterling Borrowing shall be in an integral multiple of £1,000,000.
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Sterling Borrowing means a Borrowing consisting or to consist of Sterling Loans.
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Sterling Borrowing means a Borrowing comprised of Sterling Loans.
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Examples of Sterling Borrowing in a sentence

  • If such Borrowing is a Eurocurrency or Pounds Sterling Borrowing, such request shall be deemed to be withdrawn.

  • If no Interest Period is specified in any such notice with respect to any conversion to or continuation as a Eurodollar, Eurocurrency or Pounds Sterling Borrowing, the Company shall be deemed to have selected an Interest Period of one (1) month’s duration.

  • If the requesting Sterling Borrower fails to specify a currency in a Sterling Loan Notice requesting a Sterling Borrowing, then the Sterling Loans so requested shall be made in Dollars.

  • If the requesting Sterling Borrower requests a Sterling Borrowing of, conversion to or continuation of Eurocurrency Rate Loans in any such Sterling Loan Notice, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one month.

  • The giving of any notice by the UK Administrative Agent pursuant to Section 2B.7(b) shall not relieve any UK Bank of any obligation it may have under this Agreement to make a Sterling Advance (including any Sterling Advance for which a Notice of Sterling Borrowing was given prior to such notice by the UK Administrative Agent).

  • Each Sterling Borrowing (other than a Sterling Borrowing or deemed Sterling Borrowing under Section 2B.8 to reimburse a Sterling L/C Issuer for any Sterling Unreimbursed Amount) shall be in an aggregate amount not less than £5,000,000, shall be in an integral multiple of £1,000,000 and shall, when made, consist of Sterling Advances having the same Sterling Interest Period, made on the same day by the UK Banks ratably according to their respective Sterling Commitments.

  • Within the limits of each UK Bank’s Sterling Commitment, the UK Borrower may borrow, prepay pursuant to Section 2.9B(a) and reborrow under this Section 2B.1. Subject to the terms and conditions hereof, more than one Sterling Borrowing may be made on a UK Business Day (including, for example, a Sterling Borrowing having one Sterling Interest Period and another Sterling Borrowing having a different Sterling Interest Period).

  • Each Sterling Borrowing, each conversion of Sterling Loans denominated in Dollars from one Type of Dollar-denominated Loans to the other, and each continuation of Eurocurrency Rate Loans shall be made upon the requesting Sterling Borrower’s irrevocable notice to Administrative Agent, which may be given by (A) telephone or (B) a Sterling Loan Notice; provided that any telephonic notice must be confirmed immediately by delivery to Administrative Agent of a Sterling Loan Notice.

  • Each UK Bank severally agrees, on the terms and conditions hereinafter set forth, to make one or more Sterling Advances as part of a Sterling Borrowing to the UK Borrower from time to time on any UK Business Day during the Sterling Allocation Period in an aggregate amount not to exceed at any time outstanding (i) such UK Bank’s Sterling Commitment minus (ii) such UK Bank’s Sterling Pro Rata Share of outstanding Sterling L/C Obligations.

  • Each Sterling Borrowing of, conversion to or continuation of Eurocurrency Rate Loans shall be in a principal amount permitted by Section 6.1.


More Definitions of Sterling Borrowing

Sterling Borrowing means a borrowing hereunder consisting of Sterling Advances made on the same day by the Lenders (or Agent on behalf thereof), or by Agent in the case of a Protective Advance.
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Sterling Borrowing means a borrowing consisting of simultaneous Sterling Loans of the same Type, in the same currency and, in the case of Eurocurrency Rate Loans, having the same Interest Period made by each Sterling Lender (other than the applicable Sterling Non-Qualified Lenders) pursuant to Section 5.1.
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Sterling Borrowing means a borrowing consisting of simultaneous Sterling Loans of the same Type, in the same currency and, in the case of Eurocurrency Rate Loans, having the same Interest Period made by each Sterling Lender (other than the applicable Sterling Non- Qualified Lenders) pursuant to Section 5.1.
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Related to Sterling Borrowing

  • Revolving Borrowing means a borrowing consisting of simultaneous Revolving Loans of the same Type and, in the case of Eurodollar Rate Loans, having the same Interest Period made by each of the Lenders pursuant to Section 2.01.

  • Eurodollar Revolving Borrowing means a Borrowing comprised of Eurodollar Revolving Loans.

  • RFR Borrowing means, as to any Borrowing, the RFR Loans comprising such Borrowing.

  • Canadian Borrowing means a Borrowing of Canadian Loans.

  • Refunding Borrowing means a Committed Borrowing which, after application of the proceeds thereof, results in no net increase in the outstanding principal amount of Committed Loans made by any Bank.

  • SOFR Borrowing means, as to any Borrowing, the SOFR Loans comprising such Borrowing.

  • Initial Revolving Borrowing means one or more borrowings of Revolving Credit Loans or issuances or deemed issuances of Letters of Credit on the Closing Date as specified in the definition of the term “Permitted Initial Revolving Borrowing.”

  • L/C Borrowing means an extension of credit resulting from a drawing under any Letter of Credit which has not been reimbursed on the date when made or refinanced as a Revolving Credit Borrowing.

  • Eurocurrency Borrowing means a Borrowing comprised of Eurocurrency Loans.

  • Eurocurrency Revolving Facility Borrowing means a Borrowing comprised of Eurocurrency Revolving Loans.

  • Term Borrowing means a borrowing consisting of simultaneous Term Loans of the same Type and, in the case of Eurodollar Rate Loans, having the same Interest Period made by each of the Term Lenders pursuant to Section 2.01(a).

  • Base Rate Borrowing means a Borrowing comprised of Base Rate Loans.

  • LIBOR Borrowing means a Borrowing comprised of LIBOR Loans.

  • Euro-Dollar Borrowing has the meaning set forth in Section 1.3.

  • Borrowing means Loans of the same Type, made, converted or continued on the same date and, in the case of Eurodollar Loans, as to which a single Interest Period is in effect.

  • Revolving Facility Borrowing means a Borrowing comprised of Revolving Facility Loans.

  • Notice of Revolving Borrowing shall have the meaning as set forth in Section 2.3.

  • Committed Borrowing means a borrowing consisting of simultaneous Committed Loans of the same Type and, in the case of Eurodollar Rate Loans, having the same Interest Period made by each of the Lenders pursuant to Section 2.01.

  • Fixed Rate Borrowing means a Borrowing comprised of Fixed Rate Loans.

  • ABR Revolving Facility Borrowing means a Borrowing comprised of ABR Revolving Loans.

  • Revolving Loan Borrowing means a borrowing of a Revolving Loan.

  • Term B Borrowing means a borrowing consisting of simultaneous Term B Advances of the same Type made by the Term B Lenders.

  • Eurodollar Rate Borrowing means a Borrowing comprised of Eurodollar Rate Loans.

  • Swingline Borrowing means a borrowing of a Swingline Loan pursuant to Section 2.04.

  • Term Loan Borrowing means a borrowing consisting of simultaneous Term Loans of the same Type and, in the case of Eurocurrency Rate Loans, having the same Interest Period made by each of the Term Loan Lenders pursuant to Section 2.01(a).

  • Term SOFR Borrowing means a Borrowing comprised of Term SOFR Loans.