Examples of USD Revolving Facility in a sentence
Each repayment of a USD Revolving Facility Borrowing shall be applied to the USD Revolving Facility Loans included in the repaid Borrowing such that each USD Revolving Facility Lender receives its ratable share of such repayment (based upon the respective USD Revolving Facility Credit Exposures of the USD Revolving Facility Lenders at the time of such repayment).
Until each USD Revolving Facility Lender funds its Base Rate Loan or risk participation pursuant to this Section 2.04 to refinance such USD Revolving Facility Lender’s USD Revolving Facility Percentage of any Swing Line Loan, interest in respect of such USD Revolving Facility Percentage shall be solely for the account of the Swing Line Lender.
If such USD Revolving Facility Lender pays such amount (with interest and fees as aforesaid), the amount so paid shall constitute such Lender’s USD Revolving Facility Loan included in the relevant Revolving Facility Borrowing or funded participation in the relevant Swing Line Loan, as the case may be.
Immediately upon the making of a Swing Line Loan, each USD Revolving Facility Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the Swing Line Lender a risk participation in such Swing Line Loan in an amount equal to the product of such Lender’s USD Revolving Facility Percentage multiplied by the amount of such Swing Line Loan.
Each reduction of the USD Revolving Facility Commitments shall be made ratably among the USD Revolving Facility Lenders in accordance with their respective USD Revolving Facility Commitments.
Notwithstanding anything to the contrary provided in this Agreement, each letter of credit listed on Schedule 2.05(a)(i)(A) (as may be updated pursuant to Section 11.01 of this Agreement) (each, an “Existing USD Letter of Credit”) shall be deemed issued under the USD Revolving Facility under this Agreement from and after the Restatement Date.
For the avoidance of doubt, the Outstanding Amount of Swing Line Loans shall not be counted towards or considered usage of the aggregate USD Revolving Facility Commitments for purposes of determining the USD Commitment Fee.
The Swing Line Lender shall be responsible for invoicing the applicable Revolving Facility Borrower under the USD Revolving Facility for interest on the Swing Line Loans.
Such request shall be made in writing (which written request shall be deemed to be a Borrowing Request for purposes hereof) and in accordance with the requirements of Section 2.02 and 2.03, without regard to the minimum and multiples specified therein for the principal amount of Base Rate Loans, but subject to the amount of the remaining unutilized portion of the USD Revolving Facility and the conditions set forth in Section 5.05.
Proposals will receive either an acceptable or an unacceptable rating for each of the evaluation factors.