Examples of Tranche 2 Bank in a sentence
The Administrative Agent shall give each Tranche 2 Bank prompt notice by telephone or facsimile transmission of a Notice of Borrowing that requests Bank Advances of Loans and in any event shall use its reasonable efforts to notify each Tranche 2 Bank on the same Business Day as receipt of such Notice of Borrowing.
Conversely, no Tranche 2 Bank shall be responsible for the failure of another Tranche 2 Bank to fund its Pro Rata Share of a Loan.
Nothing herein shall be deemed to relieve any Tranche 2 Bank from its obligation to fulfill its commitments hereunder or to prejudice any rights which the Company may have against any Tranche 2 Bank as a result of any default by such Tranche 2 Bank hereunder, including, without limitation, the right of the Company to seek reimbursement from any Defaulting Bank for any amounts paid by the Company under clause (y) above on account of such Defaulting Bank's default.
The Company hereby agrees to execute and deliver to each Tranche 2 Bank, upon the request of each such Tranche 2 Bank, a Note in the form of Exhibit I to evidence the Loans to the Company by such Tranche 2 Bank.
On the terms and subject to the conditions set forth in this Agreement, on and after the Effective Date and to and excluding the Facility Expiry Date, each Tranche 2 Bank severally agrees to make loans and advances to the Company under the Tranche 2 Facility ("Loans") in an amount equal to such Tranche 2 Bank's Pro Rata Share of the Loans requested or deemed requested by the Company.
Until such Tranche 2 Bank gives notice otherwise, the right of the Company to select Eurodollar Rate Loans from that Tranche 2 Bank shall be suspended and each Eurodollar Rate Loan outstanding from that Tranche 2 Bank shall automatically and immediately convert to a Prime Rate Loan.
No later than 2:00 p.m. (New York City time), on the date designated for the Borrowing, each Tranche 2 Bank, for the account of its applicable Lending Office, shall make available to the Administrative Agent at the Administrative Agent's Payment Office its Pro Rata Share of such Borrowing in immediately available funds.
The obligation of each Tranche 2 Bank to transfer such funds is irrevocable, unconditional and without recourse to or warranty by the Administrative Agent.
The Agent shall give prompt notice to each Tranche 2 Bank of any such termination of Tranche 2 Commitments.
Unless the Administrative Agent receives contrary written notice prior to the date of any such Borrowing of Loans, it is entitled to assume that each Tranche 2 Bank will make available its Pro Rata Share of the Borrowing and in reliance upon that assumption, but without any obligation to do so, may advance such Pro Rata Share on behalf of such Tranche 2 Bank.