Common use of Agent's Election Clause in Contracts

Agent's Election. Promptly after receipt of a Notice of Borrowing (or telephonic notice in lieu thereof) pursuant to SECTION 2.2(b), the Agent shall elect, in its discretion, (i) to have the terms of SECTION 2.2(g) apply to such requested Borrowing, or (ii) to request BABC to make a BABC Loan pursuant to the terms of SECTION 2.2(h) in the amount of the requested Borrowing; PROVIDED, HOWEVER, that if BABC declines in its sole discretion to make a BABC Loan pursuant to SECTION 2.2(h), the Agent shall elect to have the terms of SECTION 2.2(g) apply to such requested Borrowing.

Appears in 2 contracts

Sources: Loan and Security Agreement (Hills Stores Co /De/), Loan and Security Agreement (Hills Stores Co /De/)

Agent's Election. Promptly after receipt of a Notice of Borrowing (or telephonic notice in lieu thereof) pursuant to SECTION 2.2(b2.2(B), the Agent shall elect, in its discretion, (i) to have the terms of SECTION 2.2(g2.2(G) apply to such requested Borrowing, or (ii) to request BABC to make a BABC Loan pursuant to the terms of SECTION 2.2(h2.2(H) in the amount of the requested Borrowing; PROVIDED, HOWEVER, that if BABC declines in its sole discretion to make a BABC Loan pursuant to SECTION 2.2(h2.2(H), the Agent shall elect to have the terms of SECTION 2.2(g2.2(G) apply to such requested Borrowing.

Appears in 1 contract

Sources: Loan and Security Agreement (Trend Lines Inc)

Agent's Election. Promptly after receipt of a Notice of Borrowing (or telephonic notice in lieu thereof) pursuant to SECTION 2.2(b2.2(A), the Agent shall elect, in its discretion, (i) to have the terms of SECTION 2.2(g2.2(F) apply to such requested Borrowing, or (ii) to request BABC to make a BABC Loan pursuant to the terms of SECTION 2.2(h2.2(G) in the amount of the requested Borrowing; PROVIDED, HOWEVER, that if BABC declines in its sole discretion to make a BABC Loan pursuant to SECTION 2.2(h2.2(G), the Agent shall elect to have the terms of SECTION 2.2(g2.2(F) apply to such requested Borrowing.

Appears in 1 contract

Sources: Loan and Security Agreement (Waxman Industries Inc)

Agent's Election. Promptly after receipt of a Notice of Borrowing (or telephonic notice in lieu thereof) pursuant to SECTION Section 2.2(b), the Agent shall elect, in its discretion, (i) to have the terms of SECTION Section 2.2(g) apply to such requested Borrowing, or (ii) to request BABC BA to make a BABC BA Loan pursuant to the terms of SECTION Section 2.2(h) in the amount of the requested Borrowing; PROVIDEDprovided, HOWEVERhowever, that if BABC BA declines in its sole discretion to make a BABC BA Loan pursuant to SECTION Section 2.2(h), the Agent shall elect to have the terms of SECTION Section 2.2(g) apply to such requested Borrowing.

Appears in 1 contract

Sources: Loan and Security Agreement (Woodworkers Warehouse Inc)