Where the Borrower definition

Where the Borrower needs to make any drawdown prior to the applicable scheduled drawdown date, it shall obtain the consent of both the Entrustor and the Entrustee. Without the consent of the Entrustor and the written notice from the Entrustor to the Entrustee, any amount that fails to be drawn on the applicable scheduled drawdown date set forth above may not be drawn after such scheduled drawdown date. In the event the Entrustor agrees to release such amount that fails to be drawn on the applicable scheduled drawdown date, the Entrustee may pursuant to the written authorization from the Entrustor, charge liquidated damages on such amount at the rate of 0.05%/day and on the basis of the number of days actually delayed and 360 days a year. In case the Entrustor fails to deposit the sufficient amount for any scheduled drawdown into the Entrusted Loan Account prior to such drawdown so that the Borrower cannot make such drawdown in accordance with the Drawdown Schedule, the Entrustor shall pay liquidated damages to the Borrower at the rate of 0.05%/day and on the basis of the number of days actually delayed and 360 days a year.
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Where the Borrower s Funded Bank Debt to EBITDA Ratio is equal to or less than the ratio of 1.01 to 1, then the interest rate payable to Lender on the Line Note (hereafter defined) for the next ensuing annual period shall be equal to the rate announced by The Chase Manhattan Bank, N.A., for the guidance of its lending officers as its prime lending rate for commercial loans as in effect from time to time at its principal office in New York, N.Y., which may not be the lowest rate of interest available to its customers ("The Chase Manhattan Bank Prime Rate of Interest") less 50 basis points. In the event The Chase Manhattan Bank, N.A. shall cease to exist or shall no longer publish a prime lending rate for commercial loans, Lender shall select another commercial bank, in its sole discretion, which shall be substituted for The Chase Manhattan Bank herein. The rate of interest shall not at any time exceed the maximum rate of interest permitted under the laws of the State of Oklahoma for loans of the type and character evidenced by the Line Note. Where the Borrower's Funded Bank Debt to EBITDA is greater than or equal to the ratio of 1.01 to 1 but is less than the ratio of 1.51 to 1, then the interest rate payable to Lender on the Line Note for the next ensuing annual period shall be equal to The Chase Manhattan Bank Prime Rate of Interest minus 25 basis points. Where the Borrower's Funded Bank Debt to EBITDA is greater than or equal to the ratio of 1.51 to 1 but is less than or equal to the ratio of 2.00 to 1, then the interest rate payable to Lender on the Line Note for the next ensuing annual period shall be equal to The Chase Manhattan Bank Prime Rate of Interest. Where the Borrower's Funded Bank Debt to EBITDA is greater than or equal to the ratio of 2.00 to 1, then the interest rate payable to Lender on the Line Note for the next ensuing annual period shall be equal to The Chase Manhattan Bank Prime Rate of Interest plus 25 basis points. The rate of interest on the Term shall be fixed at the rate of eight percent per annum (8%).
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Where the Borrower has given notice under Clause 11.2 to prepay a Xxxxxx's participation in the Loan:
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Examples of Where the Borrower in a sentence

  • Where the Borrower comprises more than one person, the covenants and agreements on their part contained or implied in this Agreement bind them jointly and each of them severally.

  • Where the Borrower intends to repay the loan before the maturity date, it shall obtain consent from the Lender thereof.

  • Where the Borrower needs to extend the term of loan, it shall apply to the Lender in writing prior to the maturity date of the loan.

  • Where the Borrower fails to submit or both parties fail to reach a new repayment plan, reverse repayment shall apply (i.e. the advance repaid capital will be used to repay the amount that will be overdue at last); the contract interest rate shall not be adjusted by virtue of advance repayment or as per the period determined in the new repayment plan.

  • Where the Borrower so elects in the Notice of Drawdown, Notice of Rollover or Notice of Conversion or Section 9.2(f) applies, the Borrower will be responsible for, and will make its own arrangements with respect to, the sale of Bankers' Acceptances in the marketplace.

  • Where the Borrower is a FHLB, pursue any and all remedies available to collect, enforce, or satisfy any Loan Repayment Amount against any other FHLB on the basis that the Loan Repayment Amount is a consolidated obligation as described in section 3.3..

  • Where the Borrower sells goods or services to a customer which also sells goods or services to it or which may have other claims against it, the Borrower will so advise the Agent immediately to permit the Agent to establish a reserve therefor.

  • Where the Borrower is a corporation, its common seal should be affixed in accordance with its Articles of Association, and the affixation of the common seal should be further witnessed by an independent Justice of the Peace.

  • Where the Borrower of ordinary current capital fails to repay the loan in specified date, it may apply for extension to the Lender.

  • Where the Borrower fails to perform her repayment obligation within the term stipulated in this Agreement, her shall pay overdue interest at 0.02% of the outstanding amount for each day until the Borrower pays all principal and overdue interest of the loan and other amounts.

Related to Where the Borrower

  • Borrower as defined in the preamble hereto.

  • Borrower Affiliate shall have the meaning set forth in the Lead Securitization Servicing Agreement; provided that in the event that any Non-Lead Note is securitized in a Securitization, the term “Borrower Affiliate” as used in the definitions of “Non-Lead Note Holder” and “Non-Lead Note Holder Representative” shall refer to a “Borrower Affiliate” as defined in the related Non-Lead Securitization Servicing Agreement or such other analogous term used in the related Non-Lead Securitization Servicing Agreement.

  • The Borrower has advised the Banks that the Borrower has entered into an Agreement and Plan of Merger and Reorganization, dated as of February 10, 2000 (the "Merger Agreement"), among the Borrower, Opticare Health Systems, Inc. (the "Parent"), and OC Acquisition Corp., a wholly-owned subsidiary of the Parent ("Merger Sub"), pursuant to which the parties intend to merge Merger Sub with and into the Borrower subject to the terms and conditions thereof which include, among other things, restructuring the Obligations owing to the Banks on terms and conditions mutually agreed upon by the Borrower and the Banks. While the Borrower and the Banks have initiated discussions and due diligence concerning the Merger and any proposed restructuring of the Obligations, the Borrower acknowledges that the Banks have not consented to the Merger nor have the Banks agreed to any terms and conditions relating to any restructuring of the Obligations. In the meantime, however, the Borrower intends to continue to sell the remaining physician practice management groups operated by the Borrower and its Subsidiaries (collectively being referred to herein as the "PPM Businesses") and use a portion of the proceeds from the sale of the PPM Businesses to meet its reasonable and necessary operating expenses. To afford the Borrower an opportunity to proceed with the transactions described above, the Borrower has requested that (i) the Banks extend the temporary waiver period provided for in Sections 2.1 and 2.2 of that certain Seventh Amendment and Waiver to Credit Agreement dated as of December 10, 1999, among the Borrower, the Banks, and the Agent (the "Seventh Amendment") (as further amended, in part, by a December 30, 1999, letter agreement, a February 29, 2000, letter agreement, a March 24, 2000, letter agreement, and an April 14, 2000, letter agreement, and a May 5, 2000, letter agreement, in each case between the Borrower, the Banks and the Agent) and, in addition, that the Banks temporarily waive any non-compliance by the Borrower as of December 31, 1999, and as of March 31, 2000, with Sections 8.8 (Total Funded Debt/Adjusted EBITDA Ratio), 8.10 (Interest Coverage Ratio), and 8.11 (Debt Service Coverage Ratio) of the Credit Agreement and the Borrower's non-compliance with Section 8.5(b) of the Credit Agreement with respect to the timely delivery of the Borrower's March 31, 2000, financial statements, in each case to the earlier of June 2, 2000, or the termination of the Merger Agreement pursuant to its terms (the earlier of such dates being referred to herein as the "Waiver Termination Date"), (ii) Bank of Montreal extend the Bridge Loan Period from May 19, 2000, to the Waiver Termination Date, and (iii) postpone the due date for the payment of principal, interest and unused commitment fees otherwise due on or before May 19, 2000, to the Waiver Termination Date. By signing below, the Banks (including Bank of Montreal with respect to the Bridge Loan Commitment) hereby agree to extend the waiver period provided in Sections 2.1 and 2.2 of the Seventh Amendment from May 19, 2000, to the Waiver Termination Date, temporarily waive any non-compliance by the Borrower as of December 31, 1999, and March 31, 2000, with Sections 8.8 (Total Funded Debt/Adjusted EBITDA Ratio), 8.10 (Interest Coverage Ratio), and 8.11 (Debt Service Coverage Ratio) of the Credit Agreement and the Borrower's non-compliance with Section 8.5(b) of the Credit Agreement with respect to the timely delivery of the Borrower's March 31, 2000, financial statements through the period ending on the Waiver Termination Date, agree to extend the Bridge Loan Period to the Waiver Termination Date, and agree to postpone the due date for the payment of principal, interest, and unused commitment fees otherwise due on or before May 19, 2000, to the Waiver Termination Date, provided that:

  • Borrower Party means the Mortgage Loan Borrower, a manager of the Mortgaged Property, an Accelerated Mezzanine Loan Lender or any Borrower Party Affiliate.

  • Co-Borrower shall have the meaning assigned to such term in the introductory paragraph of this Agreement.

  • Qualified borrower means any borrower that is a sponsoring entity that has a controlling interest in the real property that is financed by a qualified loan. A controlling interest includes, but is not limited to, a controlling interest in the general partner of a limited partnership that owns the real property.

  • Loan Party means the Borrower and each Guarantor.

  • Credit Party means the Administrative Agent, the Issuing Bank, the Swingline Lender or any other Lender.

  • Lender Parent means, with respect to any Lender, any Person as to which such Lender is, directly or indirectly, a subsidiary.

  • means Borrower s forecasted consolidated and consolidating: (a) balance sheets; (b) profit and loss statements; (c) cash flow statements; and (d) capitalization statements, all prepared on a Subsidiary by Subsidiary or division-by-division basis, if applicable, and otherwise consistent with the historical Financial Statements of the Borrower, together with appropriate supporting details and a statement of underlying assumptions.

  • Borrower Related Party As defined in Section 3.33 of this Agreement.

  • Parent Borrower as defined in the preamble hereto.

  • Borrower Party Affiliate means, with respect to the Mortgage Loan Borrower, a manager of the Mortgaged Property or an Accelerated Mezzanine Loan Lender, (a) any other Person controlling or controlled by or under common control with such Mortgage Loan Borrower, manager or Accelerated Mezzanine Loan Lender, as applicable, or (b) any other Person owning, directly or indirectly, 25% or more of the beneficial interests in such Mortgage Loan Borrower, manager or Accelerated Mezzanine Loan Lender, as applicable. For the purposes of this definition, “control” when used with respect to any specified Person means the power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise and the terms “controlling” and “controlled” have meanings correlative to the foregoing.

  • Borrower/s means and refers to jointly and severally to the Applicants (more particularly described in the Application Form) who has/have been sanctioned/granted/disbursed the Loan by ABFL pursuant to the relevant Application Form submitted by such applicants to ABFL for availing of the Loan and depending upon the nature of the Borrower/s, shall, unless repugnant to the context or meaning thereof, be deemed to include his/her legal heirs, executors and administrators;

  • Loan Parties means, collectively, the Borrower and each Guarantor.

  • Original Borrower means, as the context requires, any of them;

  • Applicable Borrower means, with respect to any Loan or other amount owing hereunder or any matter pertaining to such Loan or other amount, whichever of the Borrowers is the primary obligor on such Loan or other amount.

  • U.S. Credit Party means the U.S. Borrower and each U.S. Subsidiary Guarantor.

  • Eligible borrower means owners or others having an interest in property situated within the downtown area of a participating city, community development corporations associated with a participating city, Iowa main street program organizations associated with a participating city, community-initiated development groups associated with a participating city, or other organization associated with a participating city for purposes of implementing the Iowa main street program.

  • Initial Borrower has the meaning set forth in the preamble hereto.

  • Additional Borrower means a company which becomes an Additional Borrower in accordance with Clause 25 (Changes to the Obligors).

  • Borrowers each has the meaning specified in the introductory paragraph hereto.

  • Borrower Parties means the collective reference to the Borrower and its Restricted Subsidiaries, and “Borrower Party” means any one of them.

  • Borrower Group means the Borrower and each of its Subsidiaries.

  • U.S. Borrower means any Borrower that is a U.S. Person.

  • Co-Borrowers has the meaning specified in the introductory paragraph to this Agreement.