Term Loan Notice definition
Examples of Term Loan Notice in a sentence
If the Borrower fails to specify a Type of Term Loan in a Term Loan Notice or if the Borrower fails to give a timely notice requesting a conversion or continuation, then the applicable Term Loans shall be made as, or converted to, Base Rate Loans.
If the Borrower requests a Borrowing of, conversion to, or continuation of Term SOFR Loans in any such Term Loan Notice, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one month.
In the case of a Committed Borrowing, each Lender shall make the amount of its Term Loan available to the Administrative Agent in Same Day Funds at the Administrative Agent’s Office for the applicable currency not later than 1:00 p.m. on the Business Day specified in the applicable Term Loan Notice.
If the Borrower fails to specify a currency in a Term Loan Notice requesting a Borrowing, then the Term Loans so requested shall be made in Dollars.