Examples of Sterling Loan in a sentence
Each Request for Borrowing shall be irrevocable and specify (1) whether the Loan then being requested is to be an ABR, Eurocurrency, Pounds Sterling or a Eurodollar Borrowing, (2) the Borrowing Date (which shall be a Business Day), (3) the aggregate amount thereof, and (4) if a Eurodollar, Eurocurrency or Pounds Sterling Loan is being requested, the Interest Period or Interest Periods with respect thereto.
For the avoidance of doubt, each Sterling Loan shall be a Eurocurrency Rate Loan, and each Euro Loan shall be a EURIBOR Rate Loan.
We will assume the Park Sterling Loan at the closing of the contribution transactions.
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.
No Sterling Loan may be converted into or continued as a Sterling Loan denominated in a different currency, but instead must be repaid in the original currency of such Sterling Loan and reborrowed in the other currency.