Neighborhood banks serve companies and consumers all through the nation. Required Lenders shall imply at any time (a) Lenders whose Professional Rata Shares aggregate greater than fifty-one % (51%) as such percentage is determined beneath the definition of Pro Rata Share set forth herein; or (b) within the occasion there are only two (2) Lenders under this Agreement, each Lenders; or (c) in the occasion Financial institution of Americas Professional Rata Share exceeds fifty-one % (fifty one%), Financial institution of America plus one different Lender.
Such discover shall be irrevocable and shall specify the unique face amount of the Letter of Credit requested, the efficient date (which date shall be a Enterprise Day) of issuance of such requested Letter of Credit score, whether or not such Letter of Credit could also be drawn in a single or in partial attracts, the date on which such requested Letter of Credit is to run out (which date shall be a Enterprise Day), the purpose for which such Letter of Credit score is to be issued, and the beneficiary of the requested Letter of Credit.
Promptly after receipt of a Discover of Borrowing (or telephonic discover in lieu thereof) pursuant to subparagraph 2.2(b), Agent shall elect, in its discretion, (i) to have the phrases of subparagraph 2.2(g) apply to such requested Borrowing, or (ii) to request Bank of America to make a Non-Ratable Loan pursuant to the terms of subparagraph 2.2(h) within the amount of the requested Borrowing; supplied, nevertheless, that if Bank of America declines in its sole discretion to make a Non-Ratable Mortgage pursuant to subparagraph 2.2(h), Agent shall elect to have the terms of subparagraph 2.2(g) apply to such requested Borrowing.
Each Borrower agrees that Agents and every Lenders books and information exhibiting the Obligations and the transactions pursuant to this Settlement and the other Mortgage Paperwork shall be admissible in any motion or proceeding arising therefrom, and shall constitute rebuttably presumptive proof thereof, irrespective of whether any Obligation can also be evidenced by a promissory notice or other instrument.
Excluded Swap Obligation shall mean with respect to an obligor, every Swap Obligation as to which, and solely to the extent that, such obligors warranty of or grant of a Lien as security for such Swap Obligation is or becomes unlawful under the Commodity Change Act as a result of the obligor doesn’t constitute an eligible contract participant as outlined in the act (decided after giving effect to any keepwell, assist or other agreement for the good thing about such obligor and all guarantees of Swap Obligations by different obligors) when such guaranty or grant of Lien turns into effective with respect to the Swap Obligation.