Common use of Authorization to Make Loans Clause in Contracts

Authorization to Make Loans. Lender is authorized to make the Loans and provide the Letter of Credit Accommodations based upon telephonic or other instructions received from anyone purporting to be an officer of a Borrower or the Borrower's Representative or other authorized person or, at the discretion of Lender, if such Loans are necessary to satisfy any Obligations. All requests for Loans or Letter of Credit Accommodations hereunder shall specify the date on which the requested advance is to be made or Letter of Credit Accommodations established (which day shall be a business day) and the amount of the requested Loan. Requests received after 12:00 noon, New York City time on any day shall be deemed to have been made as of the opening of business on the immediately following business day. All Loans and Letter of Credit Accommodations under this Agreement shall be conclusively presumed to have been made to, and at the request of and for the benefit of, a Borrower when deposited to the credit of such Borrower or otherwise disbursed or established in accordance with the instructions of such Borrower or in accordance with the terms and conditions of this Agreement.

Appears in 3 contracts

Samples: Loan and Security Agreement (Atlantic Express Transportation Corp), Loan and Security Agreement (Atlantic Express Transportation Corp), Loan and Security Agreement (Atlantic Express Transportation Corp)

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Authorization to Make Loans. Lender is Agent and Lenders are authorized to make the Loans and provide the Letter of Credit Accommodations based upon telephonic or other instructions received from anyone purporting to be an officer of a Administrative Borrower or the Borrower's Representative any Borrower or other authorized person or, at the discretion of LenderAgent, if such Loans are necessary to satisfy any Obligations. All requests for Loans or Letter of Credit Accommodations hereunder shall specify the date on which the requested advance is to be made or Letter of Credit Accommodations established (which day shall be a business dayBusiness Day) and the amount of the requested Loan. Requests received after 12:00 noon, 11:00 a.m. New York City time on any day shall be deemed to have been made as of the opening of business on the immediately following business dayBusiness Day. All Loans and Letter of Credit Accommodations under this Agreement shall be conclusively presumed to have been made to, and at the request of and for the benefit of, a any Borrower when deposited to the credit of such any Borrower or otherwise disbursed or established in accordance with the instructions of such any Borrower or in accordance with the terms and conditions of this Agreement.

Appears in 2 contracts

Samples: Loan and Security Agreement (Pep Boys Manny Moe & Jack), Loan and Security Agreement (Pep Boys Manny Moe & Jack)

Authorization to Make Loans. Lender is authorized to make the Loans and provide the Letter of Credit Accommodations based upon telephonic or other instructions received from anyone purporting to be an officer of a Borrower or the Borrower's Representative or other authorized person or, at the discretion of Lender, if such Loans are necessary to satisfy any Obligations. All requests for Loans or Letter of Credit Accommodations hereunder shall specify the date on which the requested advance Loan is to be made or Letter of Credit Accommodations established (which day shall be a business dayBusiness Day) and the amount of the requested LoanLoan or Letter of Credit Accommodations. Requests received after 12:00 noon, 11:00 a.m. New York City time on any day shall be deemed to have been made as of the opening of business on the immediately following business dayBusiness Day. All Loans and Letter of Credit Accommodations under this Agreement shall be conclusively presumed to have been made to, and at the request of and for the benefit of, a Borrower when deposited to the credit of such Borrower or otherwise disbursed or established in accordance with the instructions of such Borrower or in accordance with the terms and conditions of this Agreement.

Appears in 2 contracts

Samples: Loan and Security Agreement (Anvil Holdings Inc), Loan and Security Agreement (Anvil Knitwear Inc)

Authorization to Make Loans. Lender Agent is authorized to make the Loans --------------------------- and provide the Letter of Credit Accommodations Accommodations, for the account and risk of Lender, based upon telephonic or other instructions received from anyone purporting to be an officer of a Borrower or the Borrower's Representative or other authorized person or, at the discretion of LenderAgent, if such Loans are necessary to satisfy any Obligations. All requests for Loans or Letter of Credit Accommodations hereunder shall specify the date on which the requested advance is to be made or Letter of Credit Accommodations established (which day shall be a business dayBusiness Day) and the amount of the requested Loan. Requests received after 12:00 noon, 11:00 a.m. New York City time on any day shall be deemed to have been made as of the opening of business on the immediately following business dayBusiness Day. All Loans and Letter of Credit Accommodations under this Agreement shall be conclusively presumed to have been made to, and at the request of and for the benefit of, a Borrower when deposited to the credit of such Borrower or otherwise disbursed or established in accordance with the instructions of such Borrower or in accordance with the terms and conditions of this Agreement.

Appears in 2 contracts

Samples: Loan and Security Agreement (Zany Brainy Inc), Loan and Security Agreement (Zany Brainy Inc)

Authorization to Make Loans. Lender is Agent and Lenders are authorized to make the Revolving Loans and provide the Letter of Credit Accommodations based upon telephonic or other instructions received from anyone purporting to be an officer of a Borrower or the Borrower's Representative or other authorized person or, at the discretion of LenderAgent, if such Revolving Loans are necessary to satisfy any Obligations. All requests for Revolving Loans or Letter of Credit Accommodations hereunder shall specify the date on which the requested advance is to be made or Letter of Credit Accommodations established (which day shall be a business dayBusiness Day) and the amount of the requested Revolving Loan. Requests received after 12:00 noon, New York City time noon (Chicago time) on any day shall be deemed to have been made as of the opening of business on the immediately following business dayBusiness Day. All Revolving Loans and Letter of Credit Accommodations under this Agreement shall be conclusively presumed to have been made to, and at the request of and for the benefit of, a Borrower when deposited to the credit of such Borrower or otherwise disbursed or established in accordance with the instructions of such Borrower or in accordance with the terms and conditions of this Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (Pemstar Inc)

Authorization to Make Loans. Lender is authorized to make the Loans and provide the Letter of Credit Accommodations based upon telephonic or other instructions received from anyone purporting to be an officer of a Borrower or the Borrower's Representative or other authorized person or, at the discretion of Lender, if such Loans are necessary to satisfy any Obligations. All requests for Loans or Letter of Credit Accommodations hereunder shall specify the date on which the requested advance Loan is to be made or Letter of Credit Accommodations Accommodation established (which day shall be a business dayBusiness Day) and the amount of the requested LoanLoan and Letter of Credit Accommodation. Requests received after 12:00 noon, 11:00 a.m. New York City time on any day shall be deemed to have been made as of the opening of business on the immediately following business dayBusiness Day. All Loans and Letter of Credit Accommodations under this Agreement shall be conclusively presumed to have been made to, and at the request of and for the benefit of, a Borrower Borrowers when deposited to the credit of such a Borrower or otherwise disbursed or established in accordance with the instructions of such a Borrower or in accordance with the terms and conditions of this Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (Doe Run Peru Sr Ltda)

Authorization to Make Loans. Lender is authorized to make the Loans and provide the Letter of Credit Accommodations based upon telephonic or other instructions received by Agent from anyone purporting any authorized agent of Crown identified on SCHEDULE 6.4 hereto, as said schedule may be revised from time to be an officer of a Borrower or the Borrower's Representative or other authorized person time or, at the discretion of Lender, if such Loans are necessary to satisfy any Obligations. All requests for Loans or Letter of Credit Accommodations hereunder shall specify the date on which the requested advance is to be made or Letter of Credit Accommodations established (which day shall be a business dayBusiness Day) and the amount of the requested Loan. Requests received after 12:00 noon, 11:00 a.m. New York City time on any day shall be deemed to have been made as of the opening of business on the immediately following business dayBusiness Day. All Loans and Letter of Credit Accommodations under this Agreement shall be conclusively presumed to have been made to, and at the request of and for the benefit of, a Borrower Borrowers when deposited to the credit of such Borrower Borrowers or otherwise disbursed or established in accordance with the instructions of such Borrower Borrowers or in accordance with the terms and conditions of this Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (Crown Central Petroleum Corp /Md/)

Authorization to Make Loans. Lender is Agent and Lenders are authorized to make the Loans and Issuing Banks are authorized to provide the Letter Letters of Credit Accommodations based upon telephonic or other instructions received from anyone purporting to be an officer of a any Borrower or the Borrower's Representative or other authorized person Administrative Borrower or, at the discretion of LenderAgent, if such Loans are necessary to satisfy any ObligationsObligations then due and payable. All requests for Loans or Letter Letters of Credit Accommodations hereunder shall specify the date on which the requested advance is to be made or Letter Letters of Credit Accommodations established (which day shall be a business dayBusiness Day) and the amount of the requested Loan. Requests received after 12:00 noon, 11:00 a.m. New York City time on any day shall be deemed to have been made as of the opening of business on the immediately following business dayBusiness Day. All Loans and Letter Letters of Credit Accommodations under this Agreement shall be conclusively presumed to have been made to, and at the request of and for the benefit of, a Borrower Borrowers when deposited to the credit of such Borrower or otherwise disbursed or established in accordance with the instructions of such Borrower or Administrative Borrower or in accordance with the terms and conditions of this Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (Charming Shoppes Inc)

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Authorization to Make Loans. Lender is authorized to make the Loans and provide the Letter of Credit Accommodations based upon telephonic or other instructions received from anyone purporting to be an officer of a Borrower Borrowers or the Borrower's Representative TWE as agent for Borrowers or other authorized person or, at the discretion of Lender, if such Loans are necessary to satisfy any Obligations. All requests for Loans or Letter of Credit Accommodations hereunder shall specify the date on which the requested advance is to be made or Letter of Credit Accommodations established (which day shall be a business dayBusiness Day) and the amount of the requested Loan. Requests received after 12:00 noonNoon, New York City time time, on any day shall be deemed to have been made as of the opening of business on the immediately following business dayBusiness Day. All Loans and Letter of Credit Accommodations under this Agreement shall be conclusively presumed to have been made to, and at the request of and for the benefit of, a Borrower Borrowers when deposited to the credit of such a Borrower or TWE as agent for Borrowers, or otherwise disbursed or established in accordance with the instructions of such a Borrower or TWE as agent for Borrowers or in accordance with the terms and conditions of this Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (Trans World Entertainment Corp)

Authorization to Make Loans. Lender is authorized to make the Loans and provide the Letter of Credit Accommodations to a Borrower based upon telephonic or other instructions received from anyone purporting to be an officer of a such Borrower or the Borrower's Representative or other authorized person or, at the discretion of Lender, if such Loans are necessary to satisfy any ObligationsObligations then due and payable. All requests for Loans or Letter of Credit Accommodations hereunder shall specify the date on which the requested advance is to be made or Letter of Credit Accommodations established (which day shall be a business day) and the amount of the requested Loan. Requests received after 12:00 noon, 11:00 a.m. New York City time on any day shall be deemed to have been made as of the opening of business on the immediately following business day. All Loans and Letter of Credit Accommodations under this Agreement shall be conclusively presumed to have been made to, and at the request of and for the benefit of, a Borrower when deposited to the credit of such Borrower or otherwise disbursed or established in accordance with the instructions of such Borrower or in accordance with the terms and conditions of this Agreement.. 6.6

Appears in 1 contract

Samples: Loan and Security Agreement (Wyant Corp)

Authorization to Make Loans. Lender is authorized to make the Loans and provide the Letter of Credit Accommodations based upon telephonic instructions or other instructions sent by courier, telecopier or by e-mail received from anyone purporting to be an officer of a Borrower or the Borrower's Representative or other authorized person or, at the discretion of Lender, if such Loans are necessary to satisfy any Obligations. All requests for Loans or Letter of Credit Accommodations hereunder shall specify the date on which the requested advance is to be made or Letter of Credit Accommodations established (which day shall be a business dayBusiness Day) and the amount of the requested Loan. Requests received after 12:00 noon, New York City 10:00 a.m. Chicago time on any day shall be deemed to have been made as of the opening of business on the immediately following business dayBusiness Day. All Loans and Letter of Credit Accommodations under this Agreement shall be conclusively presumed to have been made to, and at the request of and for the benefit of, a Borrower when deposited to the credit of such Borrower or otherwise disbursed or established in accordance with the instructions of such Borrower or in accordance with the terms and conditions of this Agreement.

Appears in 1 contract

Samples: Loan Agreement (Mad Catz Interactive Inc)

Authorization to Make Loans. Lender is authorized to make the Loans and provide the Letter of Credit Accommodations based upon telephonic or other instructions received from anyone purporting to be an officer of a Borrower Borrowers or the Borrower's Representative LFI as agent for Borrowers or other authorized person or, at the discretion of Lender, if such Loans are necessary to satisfy any Obligations. All requests for Loans or Letter of Credit Accommodations hereunder shall specify the date on which the requested advance is to be made or Letter of Credit Accommodations established (which day shall be a business dayBusiness Day) and the amount of the requested Loan. Requests received after 12:00 noon, 11:00 a.m. New York City time on any day shall be deemed to have been made as of the opening of business on the immediately following business dayBusiness Day. All Loans and Letter of Credit Accommodations under this Agreement shall be conclusively presumed to have been made to, and at the request of and for the benefit of, a Borrower Borrowers when deposited to the credit of such a Borrower or LFI as agent for Borrowers, or otherwise disbursed or established in accordance with the instructions of such a Borrower or LFI as agent for Borrowers or in accordance with the terms and conditions of this Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (Mounger Corp)

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