Common use of Borrowing of the Loans Clause in Contracts

Borrowing of the Loans. (a) The Borrowing of the Loans shall be made upon the Borrower’s irrevocable Borrowing Request to the Administrative Agent and the Lenders in substantially the form of Exhibit B. Such Borrowing Request must be received by the Administrative Agent not later than 12:00 p.m. at least three (3) Business Days (or such later time as the Required Lenders and the Administrative Agent agree in their sole discretion) prior to the Closing Date. The Borrowing Request shall specify (i) the requested date of the borrowing (which shall be a Business Day), (ii) the principal amount of Loans to be borrowed (which shall be the entire amount of the Commitments), (iii) whether such Loans shall consist of ABR Loans and/or SOFR Loans, and (iv) wire instructions of the accounts to which funds are to be disbursed (or have a flow of funds or direction letter attached thereto directing the delivery of the funds).

Appears in 2 contracts

Samples: Credit Agreement (Prosper Funding LLC), Credit Agreement (Prosper Funding LLC)

AutoNDA by SimpleDocs

Borrowing of the Loans. (a) The Borrowing of the Loans shall be made upon the Borrower’s irrevocable Borrowing Request to the Administrative Agent and the Lenders in substantially the form of Exhibit B. Such Borrowing Request must be received by the Administrative Agent not later than 12:00 p.m. at least three (3) Business Days (or such later time as the Required Lenders and the Administrative Agent agree in their sole discretion) prior to the Closing DateDaterequested date of the Borrowing. The Borrowing Request shall specify (i) the requested date of the borrowing (which shall be a Business Day), (ii) the Class of Loans to be borrowed, (iii) the principal amount of Loans to be borrowed (which shall be the entire amount of the Commitments), (iiiin the applicable Class) whether such Loans shall consist of ABR Loans and/or SOFR Loans, and (iviiiiv) wire instructions of the accounts to which funds are to be disbursed (or have a flow of funds or direction letter attached thereto directing the delivery of the funds).

Appears in 1 contract

Samples: Credit Agreement (Oportun Financial Corp)

AutoNDA by SimpleDocs

Borrowing of the Loans. (ai) The Borrowing of the Loans shall be made upon the Borrower’s irrevocable Borrowing Request to the Administrative Agent and the Lenders in substantially the form of Exhibit B. Such Borrowing Request must be received by the Administrative Agent not later than 12:00 p.m. at least three (3) Business Days (or such later time as the Required Lenders and the Administrative Agent agree in their sole discretion) prior to the Closing Date. The Borrowing Request shall specify (i) the requested date of the borrowing (which shall be a Business Day), (ii) the principal amount of Loans to be borrowed (which shall be the entire amount of the Commitments), and (iii) whether such Loans shall consist of ABR Loans and/or SOFR Loans, and (iv) wire instructions of the accounts to which funds are to be disbursed (or have a flow of funds or direction letter attached thereto directing the delivery of the funds).

Appears in 1 contract

Samples: Credit Agreement (Oportun Financial Corp)

Time is Money Join Law Insider Premium to draft better contracts faster.