Examples of Tranche 1 Revolving Loan in a sentence
Not later than 9:00 a.m. Pacific time on the proposed date of such borrowing, each Tranche 1 Revolving Lender will make available to the Administrative Agent at the Principal Office for the account of the applicable Swingline Lender, in immediately available funds, the proceeds of the Tranche 1 Revolving Loan to be made by such Lender.
Each Tranche 1 Revolving Loan shall be made as part of a Borrowing consisting of Tranche 1 Revolving Loans made by the Tranche 1 Revolving Lenders ratably in accordance with their respective Tranche 1 Revolving Commitments.
Notwithstanding anything to the contrary, no Lender nor the Issuing Agent shall be required to make any Tranche 1 Revolving Loan or issue any Tranche 1 Letter of Credit to a Borrower whose Borrowing Base immediately upon giving effect to such Credit Event would be less than 100% of the Secured Obligations of such Grantor as confirmed by the Custodian and the Collateral Agent to the Administrative Agent immediately prior to such Credit Event.
No later than the tenth Business Day of each month, a Borrowing Base Certificate from each Borrower of a Tranche 1 Revolving Loan or on whose account a Tranche 1 Letter of Credit has been issued as of the last day of the immediately preceding month, executed by an Authorized Officer of such Borrower.
Upon any change in the Tranche 1 Revolving Loan Commitments of the Banks pursuant to Section 1.13 or 14.04, it is hereby agreed that, with respect to all outstanding Tranche 1 Letters of Credit, and Unpaid Drawings in respect of Tranche 1 Letters of Credit, there shall be an automatic adjustment to the Tranche 1 Participations pursuant to this Section 2.03 to reflect the new Tranche 1 Revolving Percentages of the assignor and assignee Bank.
On the Tranche 1 Revolving Loan Commitment Termination Date, each Borrower shall repay in full the outstanding principal balance of the Tranche 1 Revolving Loans made to it.
Notwithstanding the foregoing, at no time shall (x) the Dollar Amount of the Multicurrency Tranche 1 Revolving Credit Obligations exceed the Aggregate Multicurrency Tranche 1 Revolving Loan Commitment or (y) the amount of the US Tranche 1 Revolving Credit Obligations exceed the Aggregate US Tranche 1 Revolving Loan Commitment.