Notice of Borrowing definition: Copy, customize, and use instantly
Introduction
The term "Notice of Borrowing" is commonly used in loan agreements to define the formal communication from the borrower to the lender, indicating the borrower’s intention to take a loan or draw down on a credit facility. It specifies the amount, the interest rate, and the terms of borrowing.
Below are various examples of how "Notice of Borrowing" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Notice of Borrowing" for Drawdowns
This definition ties "Notice of Borrowing" to the process of drawdowns under a credit agreement.
"Notice of Borrowing" means a written notice delivered by the Borrower to the Lender, specifying the amount of the loan to be drawn down, the interest rate, and the borrowing date under the terms of the Loan Agreement.
Definition of "Notice of Borrowing" for Loan Requests
This definition connects "Notice of Borrowing" to loan requests made by the Borrower.
"Notice of Borrowing" refers to a formal request made by the Borrower to the Lender, detailing the amount and the specific terms of the loan or credit facility being requested, in accordance with the applicable Loan Agreement.
Definition of "Notice of Borrowing" for Currency
This definition links "Notice of Borrowing" to currency specification.
"Notice of Borrowing" means a written notice from the Borrower to the Lender, specifying the amount to be borrowed in the requested currency, and the relevant exchange rate if applicable.
Definition of "Notice of Borrowing" for Interest Rate Selection
This definition applies "Notice of Borrowing" to interest rate selection.
"Notice of Borrowing" refers to a written communication from the Borrower to the Lender, indicating the amount to be borrowed and the interest rate option (fixed or floating) selected by the Borrower in accordance with the loan agreement.
Definition of "Notice of Borrowing" for Credit Facility Drawdown
This definition ties "Notice of Borrowing" to credit facility drawdowns.
"Notice of Borrowing" means a formal written request from the Borrower to the Lender, specifying the amount to be drawn from a credit facility, and providing the requested terms and conditions.
Definition of "Notice of Borrowing" for Loan Terms
This definition connects "Notice of Borrowing" to loan terms.
"Notice of Borrowing" refers to the Borrower's written notice to the Lender, outlining the loan amount, borrowing date, repayment terms, and other conditions relevant to the loan drawdown.
Definition of "Notice of Borrowing" for Payment Schedule
This definition links "Notice of Borrowing" to payment schedules.
"Notice of Borrowing" means the written request made by the Borrower to the Lender, specifying the borrowing amount, interest rate, and the agreed-upon schedule for repayment, including any prepayment options.
Definition of "Notice of Borrowing" for Documentation Requirements
This definition applies "Notice of Borrowing" to documentation requirements.
"Notice of Borrowing" refers to the formal notice delivered by the Borrower to the Lender, outlining the necessary documentation for the loan drawdown, including any financial statements or collateral documents.
Definition of "Notice of Borrowing" for Commitment Letter
This definition ties "Notice of Borrowing" to the commitment letter.
"Notice of Borrowing" means the formal request from the Borrower, delivered to the Lender in accordance with the terms outlined in the Commitment Letter, specifying the amount to be borrowed and the conditions under which the borrowing will occur.
Definition of "Notice of Borrowing" for Borrowing Deadline
This definition connects "Notice of Borrowing" to borrowing deadlines.
"Notice of Borrowing" refers to a notice submitted by the Borrower to the Lender, indicating the Borrower's intention to draw down the loan by a specified deadline, in compliance with the terms set forth in the loan agreement.
Definition of "Notice of Borrowing" for Borrowing Period
This definition links "Notice of Borrowing" to the borrowing period.
"Notice of Borrowing" means a formal request from the Borrower to the Lender, specifying the amount to be borrowed and the period during which the loan or credit facility will be utilized, in accordance with the Borrowing Terms.
Definition of "Notice of Borrowing" for Availability Period
This definition applies "Notice of Borrowing" to the availability period.
"Notice of Borrowing" refers to a request made by the Borrower to the Lender, indicating the amount of borrowing and the date on which the Borrowing is to occur, within the specified availability period of the credit agreement.
Definition of "Notice of Borrowing" for Disbursement Instructions
This definition ties "Notice of Borrowing" to disbursement instructions.
"Notice of Borrowing" means a notice from the Borrower to the Lender specifying the amount of the loan, the interest rate, and the account into which the loan proceeds should be disbursed, along with any other necessary instructions.
Definition of "Notice of Borrowing" for Term Loans
This definition connects "Notice of Borrowing" to term loans.
"Notice of Borrowing" refers to a formal written notice from the Borrower to the Lender, detailing the requested amount and terms for a term loan, including interest rate, repayment schedule, and other material terms.
Definition of "Notice of Borrowing" for Revolving Credit
This definition links "Notice of Borrowing" to revolving credit lines.
"Notice of Borrowing" means the Borrower's formal notice to the Lender, indicating the amount to be borrowed under a revolving credit line, and the terms under which the Borrowing will occur, as specified in the Credit Agreement.
Definition of "Notice of Borrowing" for Advance Drawdown
This definition applies "Notice of Borrowing" to advance drawdowns.
"Notice of Borrowing" refers to the Borrower's written request to the Lender for an advance drawdown under the terms of a revolving or term loan, specifying the amount and timing of the borrowing.
Definition of "Notice of Borrowing" for Security Interest
This definition ties "Notice of Borrowing" to the provision of security.
"Notice of Borrowing" means the Borrower's written notice to the Lender, specifying the borrowing amount, terms of repayment, and any security interests or collateral pledged as part of the loan transaction.
Definition of "Notice of Borrowing" for Borrower’s Representation
This definition connects "Notice of Borrowing" to borrower’s representations.
"Notice of Borrowing" refers to the Borrower's formal communication to the Lender, including a statement representing that all conditions precedent to the borrowing have been satisfied, and all representations made under the loan agreement are still accurate.
Definition of "Notice of Borrowing" for Loan Facility
This definition links "Notice of Borrowing" to the terms of the loan facility.
"Notice of Borrowing" means the Borrower's formal written request to the Lender, specifying the amount and terms under which the Borrower intends to borrow from an agreed loan facility, as outlined in the Loan Agreement.
Definition of "Notice of Borrowing" for Multiple Borrowers
This definition applies "Notice of Borrowing" to multiple borrowers.
"Notice of Borrowing" refers to a written request delivered by one or more Borrowers to the Lender, specifying the amount to be borrowed under a joint facility, and the terms applicable to the borrowing by all Borrowers.
Definition of "Notice of Borrowing" for Borrowing Fees
This definition ties "Notice of Borrowing" to associated borrowing fees.
"Notice of Borrowing" means the written communication from the Borrower to the Lender, specifying the requested borrowing amount, the interest rate, and any applicable fees or charges related to the borrowing.
Definition of "Notice of Borrowing" for Interest Calculation
This definition connects "Notice of Borrowing" to interest rate calculation.
"Notice of Borrowing" refers to the Borrower's notice to the Lender, specifying the amount to be borrowed, the interest rate applicable to the loan, and the method for calculating interest over the borrowing period.
Definition of "Notice of Borrowing" for Default Clauses
This definition links "Notice of Borrowing" to default provisions.
"Notice of Borrowing" means a formal written notice issued by the Borrower, specifying the borrowing details, including any agreed-upon default clauses or events of default as outlined in the loan agreement.
Definition of "Notice of Borrowing" for Funding Conditions
This definition applies "Notice of Borrowing" to funding conditions.
"Notice of Borrowing" refers to a notice from the Borrower to the Lender, specifying the requested borrowing amount and outlining the funding conditions to be met prior to disbursement, as per the Loan Agreement.
Definition of "Notice of Borrowing" for Lender’s Review
This definition ties "Notice of Borrowing" to the lender's review process.
"Notice of Borrowing" means the written request provided by the Borrower to the Lender, which the Lender must review and approve prior to the borrowing being granted, in accordance with the terms of the loan agreement.
Definition of "Notice of Borrowing" for Capital Call
This definition connects "Notice of Borrowing" to capital calls.
"Notice of Borrowing" refers to the written request made by the Borrower for the drawing of funds from a committed credit facility, which may include a capital call to investors in the event the loan is secured by such funds.
Definition of "Notice of Borrowing" for Compliance Certificate
This definition links "Notice of Borrowing" to compliance certifications.
"Notice of Borrowing" means the Borrower’s formal notice to the Lender, including a certificate confirming that all conditions precedent for borrowing, such as compliance with covenants, have been met.
Definition of "Notice of Borrowing" for Escrow Account
This definition applies "Notice of Borrowing" to escrow accounts.
"Notice of Borrowing" refers to the Borrower’s notice to the Lender, specifying the amount to be borrowed and the instructions for the funds to be deposited into an escrow account pending the completion of certain conditions.
Definition of "Notice of Borrowing" for Syndicated Loans
This definition ties "Notice of Borrowing" to syndicated loans.
"Notice of Borrowing" means the formal request made by the Borrower to the Lead Lender in a syndicated loan arrangement, specifying the amount to be borrowed and the terms for distributing the loan amount among participating lenders.
Definition of "Notice of Borrowing" for Documentation Timing
This definition connects "Notice of Borrowing" to document submission timing.
"Notice of Borrowing" refers to the Borrower's formal notice delivered to the Lender, specifying the borrowing amount and the timing for submitting any necessary documentation required for the borrowing to be processed.
Definition of "Notice of Borrowing" for Advance Borrowing
This definition links "Notice of Borrowing" to advance borrowing procedures.
"Notice of Borrowing" means the Borrower’s written notice specifying an advanced borrowing request, detailing the amount and the terms for an accelerated disbursement under a credit facility.
Definition of "Notice of Borrowing" for Payment of Principal
This definition ties "Notice of Borrowing" to principal repayment.
"Notice of Borrowing" refers to the Borrower’s formal written request to the Lender, specifying the amount to be borrowed and including provisions for the payment of principal and interest in accordance with the loan agreement.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.