USD Facility definition
Examples of USD Facility in a sentence
The commitment fee in respect of the USD Facility shall accrue at all times during the Availability Period, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable quarterly in arrears on the last Business Day of each March, June, September and December, commencing with the first such date to occur after the Closing Date, and on the last day of the Availability Period.
At any time that there shall exist a Defaulting Lender under the USD Facility, immediately upon the request of the Administrative Agent, the L/C Issuer or the Swing Line Lender, ▇▇▇▇▇▇▇▇▇ shall deliver Cash Collateral to the Administrative Agent in an amount sufficient to cover all Fronting Exposure (after giving effect to Section 2.18(a)(iv) and any Cash Collateral provided by the Defaulting Lender).
So long as any Lender is a Defaulting Lender under the USD Facility, (i) the Swing Line Lender shall not be required to fund any Swing Line Loans unless it is satisfied that it will have no Fronting Exposure after giving effect to such Swing Line Loan and (ii) the L/C Issuer shall not be required to issue, extend, renew or increase any Letter of Credit unless it is satisfied that it will have no Fronting Exposure after giving effect thereto.
Notwithstanding anything to the contrary contained herein, if at any time Bank of America assigns all of its USD Commitment and USD Loans under the USD Facility pursuant to subsection (b) above, Bank of America may, (i) upon thirty (30) days’ notice to ▇▇▇▇▇▇▇▇▇ and the Lenders, resign as L/C Issuer and/or (ii) upon thirty (30) days’ notice to ▇▇▇▇▇▇▇▇▇, resign as Swing Line Lender.