Agent's Election. Promptly after receipt of a request for a Borrowing pursuant to SECTION 2.3(a), Agent shall elect, in its discretion, (i) to have the terms of SECTION 2.3(c) apply to such requested Borrowing, or (ii) if the Borrowing is for an Advance, to request Swing Lender to make a Swing Loan pursuant to the terms of SECTION 2.3(d) in the amount of the requested Borrowing; PROVIDED, HOWEVER, that if Swing Lender declines in its sole discretion to make a Swing Loan pursuant to SECTION 2.3(d), Agent shall elect to have the terms of SECTION 2.3(c) apply to such requested Borrowing.
Appears in 4 contracts
Samples: Loan and Security Agreement (Dairy Mart Convenience Stores Inc), Loan and Security Agreement (Peregrine Systems Inc), Loan and Security Agreement (Abraxas Petroleum Corp)
Agent's Election. Promptly after receipt of a request for a Borrowing pursuant to SECTION Section 2.3(a), Agent shall elect, in its discretion, (i) -------------- to have the terms of SECTION Section 2.3(c) apply to such requested Borrowing, or (ii) -------------- if the Borrowing is for an Advance, to request Swing Lender to make a Swing Loan pursuant to the terms of SECTION Section 2.3(d) in the amount of the requested -------------- Borrowing; PROVIDEDprovided, HOWEVERhowever, that if Swing Lender declines in its sole -------- ------- discretion to make a Swing Loan pursuant to SECTION Section 2.3(d), Agent shall elect to -------------- have the terms of SECTION Section 2.3(c) apply to such requested Borrowing.. --------------
Appears in 3 contracts
Samples: Loan and Security Agreement (Cellstar Corp), Loan and Security Agreement (Hologic Inc), Loan and Security Agreement (Friede Goldman Halter Inc)
Agent's Election. Promptly after receipt of a request for a Borrowing pursuant to SECTION 2.3(a2.3(A), Agent shall elect, in its discretion, (i) to have the terms of SECTION 2.3(c2.3(C) apply to such requested Borrowing, or (ii) if the Borrowing is for an Advance, to request Swing Lender to make a Swing Loan pursuant to the terms of SECTION 2.3(d2.3(D) in the amount of the requested Borrowing; PROVIDEDprovided, HOWEVERhowever, that if Swing Lender declines in its sole discretion to make a Swing Loan pursuant to SECTION 2.3(d2.3(D), Agent shall elect to have the terms of SECTION 2.3(c2.3(C) apply to such requested Borrowing.
Appears in 3 contracts
Samples: Loan and Security Agreement (James River Coal CO), Loan and Security Agreement and Guaranty (Archibald Candy Corp), Loan and Security Agreement (Evergreen International Aviation Inc)
Agent's Election. Promptly after receipt of a request for a Borrowing pursuant to SECTION 2.3(a2.3(A), Agent shall elect, in its discretion, (i) to have the terms of SECTION 2.3(c2.3(C) apply to such requested Borrowing, or (ii) if the Borrowing is for an Advance, to request Swing Lender to make a Swing Loan pursuant to the terms of SECTION 2.3(d2.3(D) in the amount of the requested Borrowing; PROVIDED, HOWEVER, that if Swing Lender declines in its sole discretion to make a Swing Loan pursuant to SECTION 2.3(d2.3(D), Agent shall elect to have the terms of SECTION 2.3(c2.3(C) apply to such requested Borrowing.
Appears in 2 contracts
Samples: Loan and Security Agreement (Amtrol Inc /Ri/), Loan and Security Agreement (Nabi Biopharmaceuticals)
Agent's Election. Promptly after receipt of a request for a Borrowing pursuant to SECTION Section 2.3(a), Agent shall elect, in its discretion, (i) -------------- to have the terms of SECTION Section 2.3(c) apply to such requested Borrowing, or (ii) -------------- if the Borrowing is for an Advance, to request Swing Lender to make a Swing Loan pursuant to the terms of SECTION Section 2.3(d) in the amount of the requested -------------- Borrowing; PROVIDEDprovided, HOWEVERhowever, that if Swing Lender declines in its sole discretion to make a Swing Loan pursuant to SECTION Section 2.3(d), Agent shall elect to -------------- have the terms of SECTION Section 2.3(c) apply to such requested Borrowing.. --------------
Appears in 1 contract
Samples: Loan and Security Agreement (DSG International LTD)
Agent's Election. Promptly after receipt of a request for a Borrowing pursuant to SECTION 2.3(a), Agent shall elect, in its discretion, (i) to have the terms of SECTION 2.3(c) apply to such requested Borrowing, or (ii) if the Borrowing is for an Advance, to request Swing Lender to make a Swing Loan pursuant to the terms of SECTION 2.3(d) in the amount of the requested Borrowing; PROVIDED, HOWEVER, that if Swing Lender declines in its sole discretion to make a Swing Loan pursuant to SECTION 2.3(d), Agent shall elect to have the terms of SECTION 2.3(c2.3(C) apply to such requested Borrowing.
Appears in 1 contract
Samples: Loan and Security Agreement (Ultimate Electronics Inc)
Agent's Election. Promptly after receipt of a request for a Borrowing pursuant to SECTION 2.3(a), Agent shall elect, in its discretion, (i) to have the terms of SECTION 2.3(c) apply to such requested Borrowing, or (ii) if the Borrowing is for an Advance, to request Swing Lender to make a Swing Loan pursuant to the terms of SECTION 2.3(d2.3(e) in the amount of the requested Borrowing; PROVIDED, HOWEVER, that if Swing Lender declines in its sole discretion to make a Swing Loan pursuant to SECTION 2.3(d), Agent shall elect to have the terms of SECTION 2.3(c) apply to such requested Borrowing.
Appears in 1 contract
Agent's Election. Promptly after receipt of a request for a Borrowing pursuant to SECTION 2.3(aSection 2.2(a), Agent shall elect, in its discretion, (i) -------------- to have the terms of SECTION 2.3(cSection 2.2(c) apply to such requested Borrowing, or (ii) -------------- if the Borrowing is for an Advance, to request Swing Lender to make a Swing Loan pursuant to the terms of SECTION 2.3(dSection 2.2(d) in the amount of the requested -------------- Borrowing; PROVIDEDprovided, HOWEVERhowever, that if Swing Lender declines in its sole -------- ------- discretion to make a Swing Loan pursuant to SECTION 2.3(dSection 2.2(d), Agent shall elect to -------------- have the terms of SECTION 2.3(cSection 2.2(c) apply to such requested Borrowing.. --------------
Appears in 1 contract
Agent's Election. Promptly after receipt of a request for a Borrowing pursuant to SECTION Section 2.3(a), Agent shall elect, in its discretion, (i) to have the terms of SECTION Section 2.3(c) apply to such requested Borrowing, or (ii) if the Borrowing is for an a Base Rate Seasonal Advance or a Base Rate Standard Advance, to request Swing Lender to make a Swing Loan pursuant to the terms of SECTION Section 2.3(d) in the amount of the requested Borrowing; PROVIDEDprovided, HOWEVERhowever, that if Swing Lender declines in its sole discretion to make a Swing Loan pursuant to SECTION Section 2.3(d), Agent shall elect to have the terms of SECTION Section 2.3(c) apply to such requested Borrowing.
Appears in 1 contract
