Agent's Election. Promptly after receipt of a request for a Borrowing pursuant to Section 2.1(c), Agent shall elect, in its discretion, (i) to have the terms of Section 2.1(e) apply to such requested Borrowing, or (ii) to request Foothill to make a Foothill Loan pursuant to the terms of Section 2.1(f) in the amount of the requested Borrowing; provided, however, that if Foothill declines in its sole discretion to make a Foothill Loan pursuant to Section 2.1(f), Agent shall elect to have the terms of Section 2.1(e) apply to such requested Borrowing.
Appears in 5 contracts
Sources: Loan and Security Agreement (Petsec Energy Inc), Loan and Security Agreement (Employee Solutions Inc), Loan and Security Agreement (Southwest Royalties Holdings Inc)
Agent's Election. Promptly after receipt of a request for a Borrowing pursuant to Section 2.1(cSECTION 2.1(B), Agent shall elect, in its discretion, (i) to have the terms of Section 2.1(eSECTION 2.1(D) apply to such requested Borrowing, or (ii) to request Foothill to make a Foothill Loan pursuant to the terms of Section 2.1(fSECTION 2.1(E) in the amount of the requested Borrowing; providedPROVIDED, howeverHOWEVER, that if Foothill declines in its sole discretion to make a Foothill Loan pursuant to Section 2.1(fSECTION 2.1(E), Agent shall elect to have the terms of Section 2.1(eSECTION 2.1(D) apply to such requested Borrowing.
Appears in 1 contract
Sources: Loan and Security Agreement (Cai Wireless Systems Inc)