Examples of UK Loans in a sentence
Solely for purposes of determining the amount of UK Loans available for borrowing purposes, checks and cash or other immediately available funds from collections of items of payment and proceeds of any UK Collateral shall be applied in whole or in part against the UK Secured Obligations, on the Business Day after receipt, subject to actual collection.
On the Closing Date, the outstanding U.S. Loan and the outstanding UK Loans (as hereinafter defined) shall equal $175 million in aggregate.
The proceeds of the UK Loans shall be used (i) on the Closing Date to refinance all of the UK Borrower's and its subsidiaries existing indebtedness, (ii) on the Closing Date and if necessary to refinance a portion of the Combined Entities existing indebtedness in the United States and (iii) to finance the UK Borrower's working capital needs in England.
Notwithstanding the foregoing, to avoid the incurrence of breakage costs with respect to U.K. Loans which are LIBOR Rate Loans, the U.K. Borrowers shall not be obligated to repay any U.K. Loan that is a LIBOR Rate Loan until the end of the Interest Period relating thereto to the extent that the unused amount of the Domestic Commitments of the Domestic Banks which are affiliates of the U.K. Banks shall be greater than or equal to the U.K. Excess Amount.
Collectively, the Canadian Loans, the Domestic Loans, the PR Loans and the U.K. Loans.