Common use of Making the Loans Clause in Contracts

Making the Loans. (a) The Administrative Borrower shall give the Administrative Agent prior telephonic notice of borrowing (promptly confirmed in writing, in substantially the form of Exhibit C hereto (a "Notice of Borrowing")), not later than 1:00 p.m. (New York City time) on the Effective Date. Such Notice of Borrowing shall specify (i) the principal amount of the proposed Loan, and (ii) the proposed borrowing date, which must be the Effective Date. The Administrative Agent and the Lenders may act without liability upon the basis of written or faxed notice believed by the Administrative Agent in good faith to be from the Administrative Borrower (or from any Authorized Officer thereof designated in writing purportedly from the Administrative Borrower to the Administrative Agent). The Administrative Agent and each Lender shall be entitled to rely conclusively on any Authorized Officer's authority to request a Loan on behalf of the Administrative Borrower until the Administrative Agent receives written notice to the contrary. The Administrative Agent and the Lenders shall have no duty to verify the authenticity of the signature appearing on any written Notice of Borrowing.

Appears in 1 contract

Samples: Financing Agreement (Dico, Inc.)

AutoNDA by SimpleDocs

Making the Loans. (a) The Administrative Borrower shall give the Administrative Agent prior telephonic telephone notice of borrowing (promptly immediately confirmed in writing, in substantially the form of Exhibit C G hereto (a "Notice of --------- Borrowing")), not later than 1:00 p.m. 9:00 a.m. (New York City time) on five Business Days --------- prior to the Effective Datedate of the proposed Loan. Such Notice of Borrowing shall be irrevocable and shall specify (i) the principal amount of the proposed Loan, (ii) the use of the proceeds of such proposed Loan, and (iiiii) the proposed borrowing date, which must be a Business Day, and must be on or promptly after the Effective DateDate (and after the entry of the Final Bankruptcy Court Order in the case of the second funding of Term Loan A). The Administrative Agent and the Lenders may act without liability upon the basis of written written, telecopied or faxed telephonic notice believed by the Administrative Agent in good faith to be from the Administrative Borrower (or from any Authorized Officer thereof designated in writing purportedly from the Administrative Borrower to the Administrative Agent). The Administrative Agent and each Lender Borrower hereby waives the right to dispute Agent's record of the terms of any such telephonic Notice of Borrowing. Each Notice of Borrowing shall be entitled to rely conclusively irrevocable and binding on any Authorized Officer's authority to request a Loan the Borrower. Agent on behalf of the Administrative Borrower until Lender Group will make the Administrative Agent receives written notice proceeds of such Loan available to the contrary. The Administrative Agent and Borrower on the Lenders shall have no duty to verify the authenticity day of the signature appearing on any written Notice of Borrowingproposed Loan by causing an amount, in immediately available funds, to be deposited in an account designated by the Borrower to Agent at a commercial bank reasonably satisfactory to Agent.

Appears in 1 contract

Samples: Financing Agreement (Gulf States Steel Inc /Al/)

Making the Loans. (a) The Administrative Borrower shall give the Administrative Agent prior telephonic telephone notice of borrowing (promptly immediately confirmed in writing, in substantially the form of Exhibit C A hereto (a "Notice of Borrowing")), not later than 1:00 p.m. 12:00 noon (New York City time) on the Effective Datedate which is three (3) Business Days prior to the date of a proposed Loan or Loans. Such Notice of Borrowing shall be irrevocable and shall specify (i) the principal amount of each proposed Loan and the proposed principal amount thereof that shall be a Tranche A Loan, a Tranche B Loan or a Tranche C Loan and (ii) the proposed borrowing date, which must be the Effective Datea Business Day. The Administrative Agent and the Lenders may act without liability upon the basis of written written, telecopied or faxed telephonic notice believed by the Administrative Agent in good faith to be from the Administrative Borrower (or from any Authorized Officer thereof designated in writing purportedly from by the Administrative Borrower to the Administrative Agent). The Administrative Agent and each Lender shall be entitled to rely conclusively on any Authorized Officer's authority to request a Loan on behalf of the Administrative Borrower Borrowers until the Administrative Agent receives written notice to the contrary. The Administrative Agent and the Lenders shall have no duty to verify the authenticity of the signature appearing on any written Notice of Borrowing. Except as otherwise provided in this Section 2.2, Loans shall be made ratably by the Lenders in accordance with their respective Tranche A, Tranche B and Tranche C Loan Commitments, as the case may be.

Appears in 1 contract

Samples: Loan Agreement (Sunterra Corp)

Making the Loans. (a) The Administrative Borrower shall give the Administrative Agent prior telephonic written notice of borrowing (promptly confirmed in writing, in substantially the form of Exhibit C hereto hereto) (a "Notice of Borrowing")), not later than 1:00 p.m. 12:00 noon (New York City time) on the Effective Date. Such Notice of Borrowing shall be irrevocable and shall specify in writing (i) the principal amount of the proposed Loan (ii) whether the Loan is requested to be a Reference Rate Loan or a LIBOR Rate Loan and, in the case of a LIBOR Rate Loan, the initial Interest Period with respect thereto, (iii) the use of the proceeds of such proposed Loan, (iv) wire instructions for the account into which the Loan proceeds should be deposited, and (iiv) the proposed borrowing date, which must be a Business Day and must be the Effective Date. The Administrative Agent and the Lenders may act without liability upon the basis of written or faxed notice believed by the Administrative Agent in good faith to be from the Administrative Borrower (or from any Authorized Officer thereof designated in writing purportedly from the Administrative Borrower to the Administrative Agent). The Administrative Agent and each Lender shall be entitled to rely conclusively on any Authorized Officer's authority to request a Loan on behalf of the Administrative Borrower Borrowers until the Administrative Agent receives written notice to the contrary. The Administrative Agent and the Lenders shall have no duty to verify the authenticity of the signature appearing on any written Notice of BorrowingBorrowing or the use of the proceeds of such proposed Loan.

Appears in 1 contract

Samples: Financing Agreement (Hc2 Holdings, Inc.)

Making the Loans. (a) The Administrative Borrower shall give the Administrative Agent prior telephonic notice of borrowing (promptly immediately confirmed in writing, in substantially the form of Exhibit C D hereto (a "Notice of Borrowing")), not later than 1:00 p.m. 12:00 noon (New York City time) on the Effective Datedate which is five (5) Business Days prior to the date of the proposed Loan (or such shorter period as the Agent is willing to accommodate from time to time, but in no event later than 12:00 noon (New York City time) on the borrowing date of the proposed Loan). Such Notice of Borrowing shall be irrevocable and shall specify (i) the principal amount of the proposed Loan, (ii) the use of the proceeds of such proposed Loan, and (iiiii) the proposed borrowing date, which must be a Business Day, and, with respect to the Loans (other than the Loans made pursuant to Section 2.01(c)), must be the Effective Date. The Administrative Agent and the Lenders may act without liability upon the basis of written written, telecopied or faxed telephonic notice believed by the Administrative Agent in good faith to be from the Administrative Borrower (or from any Authorized Officer thereof designated in writing purportedly from the Administrative Borrower to the Administrative Agent). Each Borrower hereby waives the right to dispute the Agent's record of the terms of any such telephonic Notice of Borrowing. The Administrative Agent and each Lender shall be entitled to rely conclusively on any Authorized Officer's authority to request a Loan on behalf of the Administrative Borrower Borrowers until the Administrative Agent receives written notice to the contrary. The Administrative Agent and the Lenders shall have no duty to verify the authenticity of the signature appearing on any written Notice of Borrowing.

Appears in 1 contract

Samples: Financing Agreement (Clean Harbors Inc)

Making the Loans. (a) The Administrative Borrower shall give the Administrative Agent prior telephonic notice of borrowing (promptly immediately confirmed in writing, in substantially the form of Exhibit C 2.02(a) hereto (a "Notice of Borrowing")), not later than 1:00 p.m. 12:00 noon (New York City time) on the Effective Datedate which is 5 Business Days prior to the date of the proposed Loan. Such Notice of Borrowing shall be irrevocable and shall specify (i) the principal amount of the proposed Loan, and (ii) the proposed borrowing date, which must be a Business Day, and, with respect to the Effective Term Loan, must be on or before the Commitment Termination Date. The Administrative Agent and the Lenders may act without liability upon the basis of written written, telecopied or faxed telephonic notice believed by the Administrative Agent in good faith to be from the Administrative Borrower (or from any Authorized Officer thereof designated in writing purportedly from the Administrative Borrower to the Administrative Agent). The Borrower hereby waives the right to dispute the Administrative Agent’s record of the terms of any such telephonic Notice of Borrowing. The Administrative Agent and each Lender shall be entitled to rely conclusively on any Authorized Officer's ’s authority to request a Loan on behalf of the Administrative Borrower until the Administrative Agent receives written notice to the contrary. The Administrative Agent and the Lenders shall have no duty to verify the authenticity of the signature appearing on any written Notice of Borrowing.

Appears in 1 contract

Samples: Financing Agreement (Magnetek Inc)

Making the Loans. (a) The Administrative Borrower shall give the Administrative Agent prior telephonic a written notice of borrowing (promptly confirmed substantially in writing, in substantially the form of Exhibit C hereto (a "Notice of Borrowing")), not later than 1:00 p.m. 12:00 noon (New York City time) on the Effective Datedate which is five (5) Business Days prior to the date of the proposed Loan. Such Notice of Borrowing shall specify (i) the principal amount of the proposed LoanLoan (which shall be not less than $2,500,000), (ii) whether the Loan is a Term Loan A and a Term Loan A-1 or a Term Loan B and (iiiii) the proposed borrowing date, which must shall be a Business Day, and which shall not occur more than once each month. Upon receipt of a Notice of Borrowing, the Effective DateAgent will promptly notify each Lender thereof and of the amount of such Lender's Pro Rata Share of such borrowing. The Administrative Agent and the Lenders may act without liability upon the basis of written or faxed telecopied notice believed by the Administrative Agent in good faith to be from the Administrative Borrower (or from any Authorized Officer thereof designated in writing purportedly from the Administrative Borrower to the Administrative Agent). The Administrative Agent and each Lender shall be entitled to rely conclusively on any Authorized Officer's authority to request a Loan on behalf of the Administrative Borrower until the Administrative Agent receives written notice to the contraryBorrower. The Administrative Agent and the Lenders shall have no duty to verify the authenticity of the signature appearing on any written Notice of Borrowing.

Appears in 1 contract

Samples: Financing Agreement (Wmi Holdings Corp.)

AutoNDA by SimpleDocs

Making the Loans. (a) The Administrative Borrower shall give the Administrative Agent prior telephonic written notice of borrowing (promptly confirmed in writing, in substantially the form of Exhibit C hereto (a "Notice of Borrowing")), not later than 1:00 p.m. 12:00 noon (New York City time) on the Effective Datedate which is 10 Business Days prior to the date of the proposed Loan (or such shorter period as the Administrative Agent is willing to accommodate from time to time, but in no event later than 12:00 noon (New York City time) on the borrowing date of the proposed Loan). Such Notice of Borrowing shall be irrevocable and shall specify (i) the principal amount of the proposed Loan, and (ii) the proposed borrowing date, which which, other than with respect to the funding of any Incremental Term Loans, must be the Effective Date. The Administrative Agent and the Lenders may act without liability upon the basis of written or faxed notice believed by the Administrative Agent in good faith to be from the Administrative Borrower (or from any Authorized Officer thereof designated in writing purportedly from the Administrative Borrower to the Administrative Agent). The Administrative Agent and each Lender shall be entitled to rely conclusively on any Authorized Officer's authority to request a Loan on behalf of the Administrative Borrower until the Administrative Agent receives written notice to the contrary. The Administrative Agent and the Lenders shall have no duty to verify the authenticity of the signature appearing on any written Notice of Borrowing.

Appears in 1 contract

Samples: Financing Agreement (Ascend Wellness Holdings, LLC)

Making the Loans. (a) The Administrative Borrower shall give the Administrative Agent prior telephonic written notice of borrowing (promptly confirmed in writing, in substantially the form of Exhibit C hereto (a "Notice of Borrowing")), not later than 1:00 p.m. 12:00 noon (New York City time) on the Effective Datedate which is 1 Business Day prior to the date of the proposed Loan (or such shorter period as the Administrative Agent is willing to accommodate from time to time, but in no event later than 12:00 noon (New York City time) on the borrowing date of the proposed Loan). Such Notice of Borrowing shall be irrevocable and shall specify (i) the principal amount of the proposed Loan, (ii) whether the Loan is requested to be a Reference Rate Loan or a LIBOR Rate Loan, (iii) the use of the proceeds of such proposed Loan, and (iiiv) the proposed borrowing date, which must be the Effective Datea Business Day. The Administrative Agent and the Lenders may act without liability upon the basis of written written, telecopied or faxed telephonic notice believed by the Administrative Agent in good faith to be from the Administrative Borrower (or from any Authorized Officer thereof designated in writing purportedly from the Administrative Borrower to the Administrative Agent). Each Borrower hereby waives the right to dispute the Administrative Agent's record of the terms of any such telephonic Notice of Borrowing. The Administrative Agent and each Lender shall be entitled to rely conclusively on any Authorized Officer's authority to request a Loan on behalf of the Administrative Borrower Borrowers until the Administrative Agent receives written notice to the contrary. The Administrative Agent and the Lenders shall have no duty to verify the authenticity of the signature appearing on any written Notice of Borrowing.

Appears in 1 contract

Samples: Financing Agreement (KushCo Holdings, Inc.)

Making the Loans. (a) The Administrative Borrower Parent shall give the Administrative Agent prior telephonic telephone notice of borrowing (promptly immediately confirmed in writing, in substantially the form of Exhibit C D hereto (a "Notice of BorrowingNOTICE OF BORROWING")), not later than 1:00 p.m. (New York City time) on the Effective Datedate which is five Business Days prior to the date of the proposed Loan. Such Notice of Borrowing shall be irrevocable and shall specify (i) the principal amount of the proposed Loan, (ii) the use of the proceeds of such proposed Loan, and (iiiii) the proposed borrowing date, which must be the Effective Datea Business Day. The Administrative Agent and the Lenders may act without liability upon the basis of written written, telecopied or faxed telephonic notice believed by the Administrative Agent in good faith to be from the Administrative Borrower Parent (or from any Authorized Officer thereof designated in writing purportedly from the Administrative Borrower Parent to the Administrative Agent). The Borrowers hereby waive the right to dispute the Administrative Agent's record of the terms of any such telephonic Notice of Borrowing. The Administrative Agent and each Lender shall be entitled to rely conclusively on any Authorized Officer's authority to request a Loan on behalf of the Administrative Borrower Parent until the Administrative Agent receives written notice to the contrary. The Administrative Agent and the Lenders shall have no duty to verify the authenticity of the signature appearing on any written Notice of Borrowing. Except as otherwise provided in this Section 2.02, Loans shall be made ratably by the Lenders in accordance with their respective Revolving Credit Commitments.

Appears in 1 contract

Samples: Financing Agreement (High Voltage Engineering Corp)

Time is Money Join Law Insider Premium to draft better contracts faster.