Examples of Tranche C Lender in a sentence
TCCI shall, at the request of a Tranche C Lender, issue one or more non-interest bearing promissory notes (each a “BA Equivalent Note”) payable on the date of maturity of the unaccepted Draft referred to below, in such form as such Tranche C Lender may specify, in a principal amount equal to the Face Amount of, and in exchange for, any unaccepted Drafts which such Tranche C Lender has purchased or has arranged to have purchased in accordance with Section 2.1(c).
Bankers’ Acceptances and Drafts purchased by a Tranche C Lender in accordance with the terms of Section 2.01(c) and this Section 2.15 may, in such Tranche C Lender’s sole discretion, be held by such Tranche C Lender for its own account until the applicable BA Maturity Date or sold, rediscounted or otherwise disposed of by it at any time prior thereto in any relevant market therefor.
TCCI recognizes and agrees that all Drafts signed and/or endorsed on its behalf by a Tranche C Lender shall bind TCCI as fully and effectually as if signed in the handwriting of and duly issued by the proper signing officers of TCCI.
Each Tranche C Lender is hereby authorized (for the purpose of acceptance and/or purchase of Drafts pursuant to this Agreement) to complete and issue such Drafts endorsed in blank in such face amounts as may be determined by such Tranche C Lender; provided that the aggregate amount thereof is equal to the aggregate amount of Drafts required to be purchased by such Tranche C Lender.
To enable the Tranche C Lenders to create Bankers’ Acceptances or purchase Drafts, as the case may be, in accordance with Section 2.01(c) and this Section 2.15, TCCI hereby appoints each Tranche C Lender as its attorney to sign and endorse on its behalf (for the purpose of acceptance and/or purchase of Drafts pursuant to this Agreement), in handwriting or by facsimile or mechanical signature as and when deemed necessary by such Tranche C Lender, blank forms of Drafts.