UK Business Day definition
Examples of UK Business Day in a sentence
Such letter of credit fees shall be due and payable on the first UK Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Sterling Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand.
Such fronting fee shall be due and payable on the first UK Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Sterling Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand.
Within the limits of each UK Bank’s Sterling Commitment, the UK Borrower may borrow, prepay pursuant to Section 2.9B(a) and reborrow under this Section 2B.1. Subject to the terms and conditions hereof, more than one Sterling Borrowing may be made on a UK Business Day (including, for example, a Sterling Borrowing having one Sterling Interest Period and another Sterling Borrowing having a different Sterling Interest Period).
The Sterling facility fee is due on the last UK Business Day of each March, June, September and December during any Sterling Allocation Period and on the last day of each Sterling Allocation Period, and on the date such UK Bank’s Sterling Allocated Commitment is terminated.
Each UK Bank severally agrees, on the terms and conditions hereinafter set forth, to make one or more Sterling Advances as part of a Sterling Borrowing to the UK Borrower from time to time on any UK Business Day during the Sterling Allocation Period in an aggregate amount not to exceed at any time outstanding (i) such UK Bank’s Sterling Commitment minus (ii) such UK Bank’s Sterling Pro Rata Share of outstanding Sterling L/C Obligations.
When used in connection with (a)(i) Domestic Loans, a Domestic Business Day; (ii) a LIBOR Rate Loan, a Eurodollar Business Day; (iii) a Canadian Loan or a Bankers’ Acceptance, a Canadian Business Day; (iv) a U.K. Loan, a U.K. Business Day; and (v) a PR Loan, a PR Business Day, and (b) Letters of Credit issued for the account of Ryder and its domestic Subsidiaries, a Domestic Business Day.
Unless the UK Agent receives notice from an UK Lender on or prior to the Closing Date or, with respect to any UK Borrowing after the Closing Date, at least one UK Business Day prior to the date of such UK Borrowing, that such UK Lender will not make available as and when required hereunder to the UK Agent that UK Lender’s Pro Rata Share of a UK Borrowing, the UK Agent may assume that each UK Lender has made such amount available to the UK Agent in immediately available funds on the Funding Date.
In the case of a request for an amendment of any outstanding Sterling Letter of Credit, such Sterling Letter of Credit Application shall specify in form and detail satisfactory to the relevant Sterling L/C Issuer (1) the Sterling Letter of Credit to be amended; (2) the proposed date of amendment thereof (which shall be a UK Business Day); (3) the nature of the proposed amendment; and (4) such other matters as the relevant Sterling L/C Issuer may require.
In the case of a request for an amendment of any outstanding Sterling Letter of Credit, such Sterling Letter of Credit Application shall specify in form and detail reasonably satisfactory to the relevant Sterling L/C Issuer (1) the Sterling Letter of Credit to be amended; (2) the proposed date of amendment thereof (which shall be a UK Business Day); (3) the nature of the proposed amendment; and (4) such other matters as the relevant Sterling L/C Issuer may require.
The UK Borrower has requested that the UK Administrative Agent provide daily advice on each UK Business Day setting forth the UK Availability.