Over 275 delegates gathered in Bucharest, Romania on four June for The Euromoney Regional Finance and Funding Convention for South-East Europe to discuss the macroeconomic outlook and the event of capital markets for the SEE economies. (c) If, upon the expiration of any Interest Interval relevant to LIBOR Revolving Loans, Borrowers have failed to pick timely a new Curiosity Interval to be relevant to LIBOR Revolving Loans or if any Default or Event of Default then exists, Borrowers shall be deemed to have elected to convert such LIBOR Revolving Loans into Base Rate Revolving Loans efficient as of the expiration date of such Interest Interval.
Bank Borrowing Reserve shall mean the quantity that a Borrower has, on the time of calculation, borrowed from any financial establishment if the terms of the applicable credit score agreement with the monetary institution require such Borrower to keep up any Excess Availability beneath this Agreement or otherwise condition the borrowing on the existence or continuation of this Agreement.
(i) Within the event that Agent shall elect to have the terms of this subparagraph 2.2(g) apply to a requested Borrowing as described in subparagraph 2.2(f), or in the case of any request by a Borrower for a Borrowing of LIBOR Revolving Loans, then promptly after receipt of a Notice of Borrowing or telephonic discover pursuant to subparagraph 2.2(b), Agent shall notify Lenders by telecopy, telephone or different related type of transmission, of the requested Borrowing.
The failure of any Lender to make any Revolving Loan on any Funding Date (any such Lender, previous to the treatment of such failure, being hereinafter known as a Defaulting Lender) shall not relieve some other Lender of any obligation hereunder to make a Revolving Mortgage on such Funding Date, but no Lender shall be accountable for the failure of some other Lender to make the Revolving Loan to be made by such other Lender on any Funding Date.
(iii) From and after the date, if any, on which any Lender purchases an undivided curiosity and participation in any Non-Ratable Mortgage or Agent Advance pursuant to clause (ii) previous, Agent shall promptly distribute to such Lender, such Lenders Pro Rata Share of all payments of principal and curiosity and all proceeds of Collateral received by the Agent in respect of such Non-Ratable Loan or Agent Advance.