Common use of Borrowing/Election Notice Clause in Contracts

Borrowing/Election Notice. Subject to clause (B) above, each Borrower shall give the Administrative Agent an irrevocable Borrowing/Election Notice of each conversion of a Floating Rate Loan into a Eurocurrency Rate Loan or continuation of a Eurocurrency Rate Loan not later than 12:00 noon (Chicago time) (x) three (3) Business Days prior to the date of the requested conversion or continuation, with respect to any Loan to be converted or continued as a Eurocurrency Rate Loan in Dollars, and (y) four (4) Business Days prior to the date of the requested conversion or continuation with respect to any Loan in an Agreed Currency other than Dollars to be converted or continued as a Eurocurrency Rate Loan or any Eurocurrency Rate Loan to be continued and made to a Foreign Subsidiary Borrower, specifying: (i) the requested date (which shall be a Business Day) of such conversion or continuation; (ii) the amount and Type of the Loan to be converted or continued; and (iii) the amount of Eurocurrency Rate Loan(s) into which such Loan is to be converted or continued, the Agreed Currency, and the duration of the Interest Period applicable thereto.

Appears in 3 contracts

Samples: Credit Agreement (Woodward, Inc.), Credit Agreement (Woodward, Inc.), Woodward Credit Agreement (Woodward, Inc.)

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Borrowing/Election Notice. Subject to clause The Company (Bon behalf of itself or the Subsidiary Borrower) above, each Borrower shall give the Administrative Agent an irrevocable Borrowing/Election Notice of each conversion of a Floating Rate Loan Advance into a Eurocurrency Rate Loan Advance or continuation of a Eurocurrency Rate Loan Advance not later than 12:00 noon 1:00 p.m. (Chicago timeLocal Time) (x) three (3) Business Days prior to the date of the requested conversion or continuation, with respect to any Loan Advance to be converted or continued as a Eurocurrency Rate Loan Advance in Dollars, and (y) four (4) Business Days prior to the date of the requested conversion or continuation with respect to any Loan in an Agreed Currency other than Dollars Advance to be converted or continued as a Eurocurrency Rate Loan or any Eurocurrency Rate Loan to be continued and made to a Foreign Subsidiary BorrowerAdvance in an Agreed Currency other than Dollars, specifying: (i) the requested date (which shall be a Business Day) of such conversion or continuation; (ii) the amount and Type of the Loan Advance to be converted or continued; and (iii) the amount of Eurocurrency Rate Loan(sAdvance(s) into which such Loan Advance is to be converted or continued, continued and the Agreed Currency, Currency and the duration of the Interest Period applicable thereto.

Appears in 3 contracts

Samples: Credit Agreement (Meritor Inc), Credit Agreement (Meritor Inc), Credit Agreement (Meritor Inc)

Borrowing/Election Notice. Subject to clause The Company (Bon behalf of itself or any Subsidiary Borrower) above, each Borrower shall give the Administrative Agent an irrevocable Borrowing/Election Notice of each conversion of a Floating Rate Loan Advance into a Eurocurrency Rate Loan Advance or continuation of a Eurocurrency Rate Loan Advance not later than 12:00 noon 11:00 a.m. (Chicago time) (x) three (3) Business Days prior to the date of the requested conversion or continuation, with respect to any Loan Advance to be converted or continued as a Eurocurrency Rate Loan Advance in Dollars, and (y) four (4) Business Days prior to the date of the requested conversion or continuation with respect to any Loan in an Agreed Currency other than Dollars Advance to be converted or continued as a Eurocurrency Rate Loan or any Eurocurrency Rate Loan to be continued and made to a Foreign Subsidiary BorrowerAdvance in an Agreed Currency other than Dollars, specifying: (i) the requested date (which shall be a Business Day) of such conversion or continuation; (ii) the amount and Type of the Loan Advance to be converted or continued; and (iii) the amount of Eurocurrency Rate Loan(sAdvance(s) into which such Loan Advance is to be converted or continued, continued and the Agreed Currency, Currency and the duration of the Interest Period applicable thereto.

Appears in 1 contract

Samples: Credit Agreement (Arvinmeritor Inc)

Borrowing/Election Notice. Subject to clause The Company (Bon behalf of itself or the Subsidiary Borrower) above, each Borrower shall give the Administrative Agent an irrevocable Borrowing/Election Notice of each conversion of a Floating Rate Loan Advance into a Eurocurrency Rate Loan Advance or continuation of a Eurocurrency Rate Loan Advance not later than 12:00 noon (Chicago New York time) (x) three (3) Business Days prior to the date of the requested conversion or continuation, with respect to any Loan Advance to be converted or continued as a Eurocurrency Rate Loan Advance in Dollars, and (y) four (4) Business Days prior to the date of the requested conversion or continuation with respect to any Loan in an Agreed Currency other than Dollars Advance to be converted or continued as a Eurocurrency Rate Loan or any Eurocurrency Rate Loan to be continued and made to a Foreign Subsidiary BorrowerAdvance in an Agreed Currency other than Dollars, specifying: (i) the requested date (which shall be a Business Day) of such conversion or continuation; (ii) the amount and Type of the Loan Advance to be converted or continued; and (iii) the amount of Eurocurrency Rate Loan(sAdvance(s) into which such Loan Advance is to be converted or continued, continued and the Agreed Currency, Currency and the duration of the Interest Period applicable thereto.

Appears in 1 contract

Samples: Credit Agreement (Arvinmeritor Inc)

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Borrowing/Election Notice. Subject to clause The Company (Bon behalf of itself or the Subsidiary Borrower) above, each Borrower shall give the Administrative Agent an irrevocable Borrowing/Election Notice of each conversion of a Floating Rate Loan Advance into a Eurocurrency Rate Loan Advance or continuation of a Eurocurrency Rate Loan Advance not later than 12:00 noon (Chicago New York time) (x) three (3) Business Days prior to the date of the requested conversion or continuation, with respect to any Loan Advance to be converted or continued as a Eurocurrency Rate Loan Advance in Dollars, and (y) four (4) Business Days prior to the date of the requested conversion or continuation with respect to any Loan in an Agreed Currency other than Dollars Advance to be converted or continued as a Eurocurrency Rate Loan or any Eurocurrency Rate Loan to be continued and made to a Foreign Subsidiary BorrowerAdvance in an Agreed Currency other than Dollars, specifying: (i) the requested date (which shall be a Business Day) of such conversion or continuation; (ii) the amount and Type of the Loan Advance to be converted or continued; and (iii) the amount of Eurocurrency Rate Loan(sAdvance(s) into which such Loan Advance is to be converted or continued, continued and the Agreed Currency, Currency and the duration of the Interest Period applicable thereto.. (E)

Appears in 1 contract

Samples: Credit Agreement (Arvinmeritor Inc)

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