Common use of Borrowing Procedure Clause in Contracts

Borrowing Procedure. (a) In order to request a Loan, the Borrower shall deliver by hand or by facsimile or other electronic means to the Administrative Agent a duly completed Borrowing Request, together with the related Addition Notice, Borrowing Base Certificate and data tape or other electronic file containing information regarding the Related Receivables to be transferred on such Funding Date not later than 1:00 p.m., New York City time, one Business Day before the proposed Funding Date. Such Borrowing Base Certificate shall provide the current calculation of the Class A Borrowing Base and Class B Borrowing Base (i) if such Funding Date is a Settlement Date, as of the end of business on the related Determination Date, or (ii) if such Funding Date is not a Settlement Date, as of the end of business on the Determination Date for the most recent Settlement Date (or as of the end of business on such date as agreed by the Administrative Agent). The Borrower shall submit no more than five (5) Borrowing Requests (and accompanying Addition Notices and Borrowing Base Certificates) per week, unless otherwise agreed by the Administrative Agent. Each Borrowing Request shall be irrevocable, shall be signed by or on behalf of the Borrower and shall specify the following information: (i) the Funding Date of such Loans (which shall be a Business Day); (ii) the number and location of the account to which funds are to be disbursed (which shall be an account that complies with the requirements of Section 2.02(c)); and (iii) the aggregate amount to be borrowed and the allocation of Class A Loans and Class B Loans requested; provided, however, that, notwithstanding any contrary specification in any Borrowing Request, (x) the Borrower shall not submit any Class A Borrowing Request unless accompanied by a Class B Borrowing Request such that the aggregate amount of borrowing requested is proportionally split based on the Unrated Class A Advance Rate and the Unrated Class B Advance Rate and (y) each requested borrowing of Loans shall comply with the requirements set forth in Section 2.02. The Administrative Agent shall promptly advise the Lenders of any notice given pursuant to this Section 2.03 (and the contents thereof), and of each Lender’s portion of the requested Loans.

Appears in 2 contracts

Samples: Credit Agreement (Consumer Portfolio Services Inc), Credit Agreement (Consumer Portfolio Services Inc)

AutoNDA by SimpleDocs

Borrowing Procedure. (a) In order to To request a Swingline Loan, the applicable Borrower shall deliver by hand or by facsimile or other electronic means to notify the Administrative Agent a duly completed Borrowing Requestof such request by telephone (confirmed by telecopy or email), together with the related Addition Notice, Borrowing Base Certificate and data tape or other electronic file containing information regarding the Related Receivables to be transferred on such Funding Date not later than 1:00 p.m., New York City timeLocal Time, one Business Day before the proposed Funding Date. Such Borrowing Base Certificate shall provide the current calculation of the Class A Borrowing Base and Class B Borrowing Base (i) if such Funding Date is a Settlement Date, as of the end of business on the related Determination Date, or (ii) if such Funding Date is not day of a Settlement Date, as of the end of business on the Determination Date for the most recent Settlement Date (or as of the end of business on such date as agreed by the Administrative Agent). The Borrower shall submit no more than five (5) Borrowing Requests (and accompanying Addition Notices and Borrowing Base Certificates) per week, unless otherwise agreed by the Administrative Agentproposed Swingline Loan. Each Borrowing Request such notice shall be irrevocable, shall be signed by or on behalf of the Borrower irrevocable and shall specify the following information: (i) the Funding Date of such Loans requested date (which shall be a Business Day); (ii) the number and location amount of the account to which funds are to be disbursed (which requested Swingline Loan; provided that any notice requesting a Swingline Loan in Canadian Dollars or Euro shall be an account that complies with the requirements of Section 2.02(c)); and (iii) the aggregate amount to be borrowed and the allocation of Class A Loans and Class B Loans requested; provided, however, that, notwithstanding any contrary specification in any Borrowing Request, (x) the Borrower shall not submit any Class A Borrowing Request unless accompanied by a Class B borrowing notice for a Borrowing Request such that the aggregate 3 Business Days hence for a like amount of borrowing requested Multicurrency Revolving Loans denominated in the currency of the proposed Swingline Loan pursuant to Section 2.03 (it being understood such notice for such Multicurrency Revolving Loans may be delivered not later than 1:00 p.m. Local Time instead of 11:00 a.m. Local Time), which notice shall only be revocable if such Swingline Loan denominated in Canadian Dollars or Euro is proportionally split based on not made; the Unrated Class A Advance Rate proceeds of any such Multicurrency Revolving Loans made shall be applied by the Borrowers first, to repay the principal of such Swingline Loan and any interest owing thereunder to the Unrated Class B Advance Rate and (y) each requested borrowing of Loans shall comply Swingline Lender, with any amounts in excess thereof to be retained by the requirements set forth in Section 2.02applicable Borrower. The Administrative Agent shall will promptly advise the Lenders Swingline Lender of any such notice given pursuant received from such Borrower. The Swingline Lender shall make each Swingline Loan available to this the applicable Borrower by means of a credit to the general deposit account of the applicable Borrower with the Swingline Lender or by wire transfer, automated clearinghouse debit or interbank transfer to such other account, accounts or Persons designated by the applicable Borrower in the applicable request (or, in the case of a Swingline Loan made to finance the reimbursement of an LC Disbursement as provided in Section 2.03 (and the contents thereof2.05(e), and of each Lender’s portion of by remittance to the Issuing Bank) by 3:00 p.m., Local Time, on the requested Loansdate of such Swingline Loan.

Appears in 2 contracts

Samples: Credit Agreement (Darling Ingredients Inc.), Credit Agreement (Darling International Inc)

Borrowing Procedure. (a) In order to request effect a LoanBorrowing, the Borrower shall hand deliver by hand or by facsimile or other electronic means telecopy to the Administrative Agent a duly completed Borrowing RequestRequest in the form of Exhibit E (a) in the case of a LIBOR Borrowing, together with the related Addition Notice, Borrowing Base Certificate and data tape or other electronic file containing information regarding the Related Receivables to be transferred on such Funding Date not later than 1:00 p.m.12:00 (noon), New York City time, one three Business Day Days before a proposed Borrowing, and (b) in the case of an ABR Borrowing, not later than 12:00 (noon), New York City time, on the day of a proposed Funding DateBorrowing. Such Borrowing Base Certificate shall provide the current calculation of the Class A Borrowing Base and Class B Borrowing Base (i) if such Funding Date is a Settlement Date, as of the end of business on the related Determination Date, or (ii) if such Funding Date is not a Settlement Date, as of the end of business on the Determination Date for the most recent Settlement Date (or as of the end of business on such date as agreed by the Administrative Agent). The Borrower shall submit no more than five (5) Borrowing Requests (and accompanying Addition Notices and Borrowing Base Certificates) per week, unless otherwise agreed by the Administrative Agent. Each Borrowing Request shall be irrevocable, shall be signed by or on behalf of the Borrower irrevocable and shall in each case specify (a) whether the following information: Borrowing then being requested is to be a LIBOR Borrowing or an ABR Borrowing, (ib) the Funding Date date of such Loans Borrowing (which shall be a Business Day); ) and the amount thereof and (iic) the number and location of the account to which funds are if such Borrowing is to be disbursed (which a LIBOR Borrowing, the Interest Period with respect thereto. If no election as to the Interest Rate Type of a Borrowing is specified in any such Borrowing Request, then the requested Borrowing shall be an account that complies ABR Borrowing. If no Interest Period with the requirements of Section 2.02(c)); and (iii) the aggregate amount respect to be borrowed and the allocation of Class A Loans and Class B Loans requested; provided, however, that, notwithstanding any contrary specification LIBOR Borrowing is specified in any such Borrowing Request, (x) then the Borrower shall be deemed to have selected an Interest Period of one month's duration. If the Borrower shall not submit any Class A have given a Borrowing Request in accordance with this Section 2.5 of its election to refinance a Borrowing prior to the end of the Interest Period in effect for such Borrowing, then the Borrower shall (unless accompanied by a Class B such Borrowing Request is repaid at the end of such that the aggregate amount Interest Period) be deemed to have given notice of borrowing requested is proportionally split based on the Unrated Class A Advance Rate and the Unrated Class B Advance Rate and (y) each requested borrowing of Loans shall comply an election to refinance such Borrowing with the requirements set forth in Section 2.02an ABR Borrowing. The Administrative Agent shall promptly advise the Lenders of any notice given pursuant to this Section 2.03 (and the contents thereof), 2.5 and of each Lender’s 's portion of the requested LoansBorrowing.

Appears in 2 contracts

Samples: Term Loan Agreement (Cendant Corp), Term Loan Agreement (Cendant Corp)

Borrowing Procedure. (a) In order to request a Loan, the Borrower shall deliver give Administrative Agent notice of each Borrowing by means of a Borrowing Request Form containing the information required therein and delivered (by hand or by facsimile or other electronic means mechanically confirmed facsimile) to the Administrative Agent a duly completed no later than 5:00 p.m. (New York, NY time) on the day prior to which the Borrowing Request, together with the related Addition Notice, Borrowing Base Certificate and data tape or other electronic file containing information regarding the Related Receivables is desired to be transferred on such Funding Date not later than 1:00 p.m., New York City time, one Business Day before the proposed Funding Date. Such Borrowing Base Certificate shall provide the current calculation of the Class A Borrowing Base and Class B Borrowing Base (i) if such Funding Date is a Settlement Date, as of the end of business on the related Determination Date, or (ii) if such Funding Date is not a Settlement Date, as of the end of business on the Determination Date for the most recent Settlement Date (or as of the end of business on such date as agreed by the Administrative Agent). The Borrower shall submit no more than five (5) Borrowing Requests (and accompanying Addition Notices and Borrowing Base Certificates) per week, unless otherwise agreed by the Administrative Agentfunded. Each Borrowing Request shall be irrevocablein an amount no less than $[***] up to the Maximum Facility Amount less outstanding Borrowings. Administrative Agent at its option may accept telephonic requests for such Borrowings, provided that such acceptance shall not constitute a waiver of Administrative Agent’s right to require delivery of a Borrowing Request Form in connection with subsequent Borrowings. Any telephonic request for a Borrowing by Borrower shall be signed promptly confirmed by submission of a properly completed Borrowing Request Form to Administrative Agents, but failure to deliver a Borrowing Request Form shall not be a defense to payment of the Borrowing. No Lender shall have liability to Borrower for any loss or damage suffered by Xxxxxxxx as a result of Xxxxxxx’ honoring of any requests, execution of any instructions, authorizations or agreements or reliance on any reports communicated to it telephonically, by facsimile or electronically and purporting to have been sent to Administrative Agent by Xxxxxxxx and Lenders shall have no duty to verify the origin of any such communication or the identity or authority of the Person sending it. Subject to the terms and conditions of this Agreement, each Borrowing shall be made available to Borrower by depositing the same, in immediately available funds, in an account of Borrower designated by Xxxxxxxx maintained with Administrative Agent at the Principal Office. If, after giving effect to a requested Borrowing, there is a Borrowing Base Deficiency, or if Administrative Agent determines (either then or on behalf any later day in the course of reviewing the Borrower and shall specify same) that the following information: (i) the Funding Date of such Loans (which shall be a Business Day); (ii) the number and location of the account Borrowing Request Form submitted to which funds are to be disbursed (which shall be an account that complies with the requirements of Section 2.02(c)); and (iii) the aggregate amount to be borrowed and the allocation of Class A Loans and Class B Loans requested; provided, however, that, notwithstanding any contrary specification it is incomplete or incorrect in any material respect, then Lenders shall withhold the entire Borrowing Request, (x) the until Borrower shall not submit any Class A have demonstrated to Administrative Agent’s reasonable satisfaction that such Borrowing Request unless accompanied by a Class B Borrowing Request such that the aggregate amount of borrowing requested Form is proportionally split based on the Unrated Class A Advance Rate and the Unrated Class B Advance Rate and in fact not (yor is no longer) each requested borrowing of Loans shall comply with the requirements set forth incomplete or incorrect in Section 2.02. The Administrative Agent shall promptly advise the Lenders of any notice given pursuant to this Section 2.03 (and the contents thereof), and of each Lender’s portion of the requested Loansmaterial respect.

Appears in 2 contracts

Samples: Credit and Security Agreement (loanDepot, Inc.), Credit and Security Agreement (loanDepot, Inc.)

Borrowing Procedure. (a) In order to request a LoanBorrowing, the Borrower shall hand deliver by hand or by facsimile or other electronic means telecopy to the Administrative Agent a duly completed Borrowing Request: (a) in the case of a Eurodollar Rate Borrowing, together with the related Addition Notice, Borrowing Base Certificate and data tape or other electronic file containing information regarding the Related Receivables to be transferred on such Funding Date not later than 1:00 p.m.12:00 noon, New York City Dallas, Texas time, one two Business Day Days before such Borrowing, and (b) in the proposed Funding Datecase of a Base Rate Borrowing or a Eurodollar Daily Floating Rate Borrowing, not later than 12:00 noon, Dallas, Texas time, on the day of such Borrowing. Such Borrowing Base Certificate shall provide the current calculation of the Class A Borrowing Base and Class B Borrowing Base (i) if such Funding Date is a Settlement Date, as of the end of business on the related Determination Date, or (ii) if such Funding Date is not a Settlement Date, as of the end of business on the Determination Date for the most recent Settlement Date (or as of the end of business on such date as agreed by the Administrative Agent). The Borrower shall submit no more than five (5) Borrowing Requests (and accompanying Addition Notices and Borrowing Base Certificates) per week, unless otherwise agreed by the Administrative Agent. Each Borrowing Request notice shall be irrevocable, shall be signed by or on behalf of the Borrower irrevocable and shall specify the following informationin each case specify: (i) whether the Funding Date Borrowing is a Revolving Loan Borrowing or a Swingline Loan Borrowing; (ii) in the case of a Revolving Loan Borrowing, whether such Borrowing is to be a Eurodollar Rate Borrowing or a Base Rate Borrowing; (iii) in the case of a Swingline Loan Borrowing, whether such Borrowing is to be a Eurodollar Daily Floating Rate Borrowing or a Base Rate Borrowing; (iv) the date of such Loans Borrowing (which shall be a Business Day); (ii) and the number and location of the account to which funds are to be disbursed (which shall be an account that complies with the requirements of Section 2.02(c))amount thereof; and (iiiv) the aggregate amount if such Borrowing is to be borrowed and a Eurodollar Rate Borrowing, the allocation of Class A Loans and Class B Loans requested; provided, however, that, notwithstanding any contrary specification Interest Period with respect thereto. If no election as to the Type or facility applicable to such Borrowing is specified in any such notice, then the requested Borrowing Requestwill be a Base Rate Swingline Loan Borrowing. If no Interest Period with respect to any Eurodollar Rate Borrowing is specified in any such notice, (x) then the Borrower shall not submit be deemed to have selected an Interest Period of one month’s duration. Notwithstanding any Class A other provision of this Agreement to the contrary, no Eurodollar Rate Borrowing Request unless accompanied by shall be requested if the Interest Period with respect thereto would end after the Maturity Date. When a Class B Revolving Loan Borrowing Request such that is requested, the aggregate amount of borrowing requested is proportionally split based on the Unrated Class A Advance Rate and the Unrated Class B Advance Rate and (y) each requested borrowing of Loans shall comply with the requirements set forth in Section 2.02. The Administrative Agent shall promptly advise the Revolving Lenders of any the notice given pursuant to this Section 2.03 (and the contents thereof), and of each Revolving Lender’s portion of the requested LoansBorrowing. When a Swingline Loan Borrowing is requested, the Administrative Agent shall promptly advise the Swingline Lender of the notice given pursuant to this Section 2.03.

Appears in 2 contracts

Samples: Revolving Credit Facility Agreement (Lennox International Inc), Revolving Credit Facility Agreement (Lennox International Inc)

Borrowing Procedure. (a) In order to To request a Swingline Loan, the applicable Borrower shall deliver by hand or by facsimile or other electronic means to notify the Administrative Agent a duly completed Borrowing Requestof such request by telephone (confirmed by telecopy or email), together with the related Addition Notice, Borrowing Base Certificate and data tape or other electronic file containing information regarding the Related Receivables to be transferred on such Funding Date not later than 1:00 p.m., New York City timeLocal Time, one Business Day before the proposed Funding Date. Such Borrowing Base Certificate shall provide the current calculation of the Class A Borrowing Base and Class B Borrowing Base (i) if such Funding Date is a Settlement Date, as of the end of business on the related Determination Date, or (ii) if such Funding Date is not day of a Settlement Date, as of the end of business on the Determination Date for the most recent Settlement Date (or as of the end of business on such date as agreed by the Administrative Agent). The Borrower shall submit no more than five (5) Borrowing Requests (and accompanying Addition Notices and Borrowing Base Certificates) per week, unless otherwise agreed by the Administrative Agentproposed Swingline Loan. Each Borrowing Request such notice shall be irrevocable, shall be signed by or on behalf of the Borrower irrevocable and shall specify the following information: (i) the Funding Date of such Loans requested date (which shall be a Business Day); (ii) the number and location amount of the account to which funds are to be disbursed (which requested Swingline Loan; provided that any notice requesting a Swingline Loan in Canadian Dollars or Euro shall be an account that complies with the requirements of Section 2.02(c)); and (iii) the aggregate amount to be borrowed and the allocation of Class A Loans and Class B Loans requested; provided, however, that, notwithstanding any contrary specification in any Borrowing Request, (x) the Borrower shall not submit any Class A Borrowing Request unless accompanied by a Class B borrowing notice for a Borrowing Request such that the aggregate three (3) Business Days hence for a like amount of borrowing requested Multicurrency Revolving Loans denominated in the currency of the proposed Swingline Loan pursuant to Section 2.03 (it being understood such notice for such Multicurrency Revolving Loans may be delivered not later than 1:00 p.m. Local Time instead of 11:00 a.m. Local Time), which notice shall only be revocable if such Swingline Loan denominated in Canadian Dollars or Euro is proportionally split based on not made; the Unrated Class A Advance Rate proceeds of any such Multicurrency Revolving Loans made shall be applied by the Borrowers first, to repay the principal of such Swingline Loan and any interest owing thereunder to the Unrated Class B Advance Rate and (y) each requested borrowing of Loans shall comply Swingline Lender, with any amounts in excess thereof to be retained by the requirements set forth in Section 2.02applicable Borrower. The Administrative Agent shall will promptly advise the Lenders Swingline Lender of any such notice given pursuant received from such Borrower. The Swingline Lender shall make each Swingline Loan available to this the applicable Borrower by means of a credit to the general deposit account of the applicable Borrower with the Swingline Lender or by wire transfer, automated clearinghouse debit or interbank transfer to such other account, accounts or Persons designated by the applicable Borrower in the applicable request (or, in the case of a Swingline Loan made to finance the reimbursement of an LC Disbursement as provided in Section 2.03 (and the contents thereof2.05(e), and of each Lender’s portion of by remittance to the Issuing Bank) by 3:00 p.m., Local Time, on the requested Loansdate of such Swingline Loan.

Appears in 2 contracts

Samples: Credit Agreement (Darling Ingredients Inc.), Credit Agreement (Darling Ingredients Inc.)

Borrowing Procedure. (a) In order to request a LoanBorrowing, the Borrower shall deliver notify the Paying Agent of such request by hand or by facsimile or other electronic means to telephone (a) in the Administrative Agent case of a duly completed Borrowing RequestEurodollar Borrowing, together with the related Addition Notice, Borrowing Base Certificate and data tape or other electronic file containing information regarding the Related Receivables to be transferred on such Funding Date not later than 1:00 p.m.10:30 a.m., New York City time, one three Business Day Days before a proposed Borrowing and (b) in the case of an ABR Borrowing, not later than 10:30 a.m., New York City time, on the day of a proposed Funding DateBorrowing. Such Each such telephonic borrowing request shall be irrevocable and shall be confirmed promptly by hand delivery or telecopy to the Paying Agent of a written Borrowing Base Certificate Request in the form of Exhibit A. Each such telephonic and written Borrowing Request shall provide the current calculation of the Class A Borrowing Base and Class B Borrowing Base specify (i) if such Funding Date whether the Borrowing then being requested is to be a Settlement Date, as of the end of business on the related Determination Date, Eurodollar Borrowing or an ABR Borrowing; (ii) if such Funding Date is not a Settlement Date, as of the end of business on the Determination Date for the most recent Settlement Date (or as of the end of business on such date as agreed by the Administrative Agent). The Borrower shall submit no more than five (5) Borrowing Requests (and accompanying Addition Notices and Borrowing Base Certificates) per week, unless otherwise agreed by the Administrative Agent. Each Borrowing Request shall be irrevocable, shall be signed by or on behalf of the Borrower and shall specify the following information: (i) the Funding Date of such Loans Borrowing (which shall be a Business Day); (ii) and the number and location of the account to which funds are to be disbursed (which shall be an account that complies with the requirements of Section 2.02(c))amount thereof; and (iii) the aggregate amount if such Borrowing is to be borrowed and a Eurodollar Borrowing, the allocation Interest Period with respect thereto, which shall not end after the Termination Date. If no election as to the Type of Class A Loans and Class B Loans requested; provided, however, that, notwithstanding any contrary specification Borrowing is specified in any such notice, then the requested Borrowing Requestshall be an ABR Borrowing. If no Interest Period with respect to any Eurodollar Borrowing is specified in any such notice, (x) then the Borrower shall be deemed to have selected an Interest Period of one month's duration. Notwithstanding any other provision of this Agreement to the contrary, the Borrower shall not submit be entitled to request any Class A Borrowing Request unless accompanied by a Class B if the Interest Period requested with respect to such Borrowing Request such that would end after the aggregate amount of borrowing requested is proportionally split based on the Unrated Class A Advance Rate and the Unrated Class B Advance Rate and (y) each requested borrowing of Loans shall comply with the requirements set forth in Section 2.02Termination Date. The Administrative Paying Agent shall promptly advise the Lenders of any notice given pursuant to this Section 2.03 (and the contents thereof), 2.04 and of each Lender’s 's portion of the requested LoansBorrowing.

Appears in 2 contracts

Samples: Agreement (At&t Corp), Credit Agreement (At&t Corp)

Borrowing Procedure. (a) In order to request effect a LoanBorrowing, the Borrower shall hand deliver by hand or by facsimile or other electronic means telecopy to the Administrative Agent a duly completed Borrowing Requestnotice in the form of Exhibit E (a) in the case of a LIBOR Borrowing, together with the related Addition Notice, Borrowing Base Certificate and data tape or other electronic file containing information regarding the Related Receivables to be transferred on such Funding Date not later than 1:00 p.m.12:00 Noon, New York City time, one three Business Day Days before a proposed Borrowing, and (b) in the case of an ABR Borrowing, not later than 12:00 Noon, New York City time, on the day of a proposed Funding DateBorrowing. Such Borrowing Base Certificate shall provide the current calculation of the Class A Borrowing Base and Class B Borrowing Base (i) if such Funding Date is a Settlement Date, as of the end of business on the related Determination Date, or (ii) if such Funding Date is not a Settlement Date, as of the end of business on the Determination Date for the most recent Settlement Date (or as of the end of business on such date as agreed by the Administrative Agent). The Borrower shall submit no more than five (5) Borrowing Requests (and accompanying Addition Notices and Borrowing Base Certificates) per week, unless otherwise agreed by the Administrative Agent. Each Borrowing Request notice shall be irrevocable, shall be signed by or on behalf of the Borrower irrevocable and shall in each case specify (a) whether the following information: Borrowing then being requested is to be a LIBOR Borrowing or an ABR Borrowing, (ib) the Funding Date date of such Loans Borrowing (which shall be a Business Day); ) and the amount thereof and (iic) the number and location of the account to which funds are if such Borrowing is to be disbursed (which a LIBOR Borrowing, the Interest Period with respect thereto. If no election as to the Interest Rate Type of a Borrowing is specified in any such Borrowing Request, then the requested Borrowing shall be an account that complies ABR Borrowing. If no Interest Period with the requirements of Section 2.02(c)); and (iii) the aggregate amount respect to be borrowed and the allocation of Class A Loans and Class B Loans requested; provided, however, that, notwithstanding any contrary specification LIBOR Borrowing is specified in any such Borrowing Request, (x) then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. If the Borrower shall not submit any Class A have given a Borrowing Request in accordance with this Section 2.3 of its election to refinance a Borrowing prior to the end of the Interest Period in effect for such Borrowing, then the Borrower shall (unless accompanied by such Borrowing is repaid at the end of such Interest Period) be deemed to have given notice of an election to refinance such Borrowing with a Class B LIBOR Borrowing Request such that of one month’s duration (or at any time after the aggregate amount occurrence, and during the continuation, of borrowing requested is proportionally split based on the Unrated Class A Advance Rate and the Unrated Class B Advance Rate and (y) each requested borrowing a Default or an Event of Loans shall comply with the requirements set forth in Section 2.02Default, an ABR Borrowing). The Administrative Agent shall promptly advise the Lenders of any notice given pursuant to this Section 2.03 (and the contents thereof), 2.3 and of each Lender’s portion of the requested LoansBorrowing.

Appears in 2 contracts

Samples: Interim Term Loan Agreement (Wyndham Worldwide Corp), Interim Term Loan Agreement (Realogy Corp)

Borrowing Procedure. (a) In order to request a Loan, the The Borrower shall deliver by hand or by facsimile or other electronic means to give the Administrative Agent a duly completed Borrowing Request, together with irrevocable notice (which notice must be received by the related Addition Notice, Borrowing Base Certificate and data tape or other electronic file containing information regarding the Related Receivables Administrative Agent prior to be transferred on such Funding Date not later than 1:00 p.m.10:00 a.m., New York City time, ) not less than one Business Day before prior to the proposed Funding Date. Such Borrowing Closing Date (in the case of Base Certificate shall provide Rate Loans) or three Business Days prior to the current calculation Closing Date (in the case of LIBO Rate Loans) requesting that the Class A Borrowing Base and Class B Borrowing Base (i) if such Funding Date is a Settlement Date, as of Term Loan Lenders make the end of business Term Loans on the related Determination Date, or (ii) if such Funding Closing Date is not a Settlement Date, as of the end of business on the Determination Date for the most recent Settlement Date (or as of the end of business on such date as agreed by the Administrative Agent). The Borrower shall submit no more than five (5) Borrowing Requests (and accompanying Addition Notices and Borrowing Base Certificates) per week, unless otherwise agreed by the Administrative Agent. Each Borrowing Request shall be irrevocable, shall be signed by or on behalf of the Borrower and shall specify the following information: specifying (i) the Funding Date aggregate principal amount of such the Term Loans (which shall to be a Business Day); borrowed, (ii) whether the number and location of the account to which funds Term Loans are to be disbursed (which shall be an account that complies with the requirements of Section 2.02(c)); initially LIBO Rate Loans, Base Rate Loans or a combination thereof, and (iii) if the aggregate amount Term Loans are to be borrowed entirely or partly LIBO Rate Loans, the respective amounts of each such type of Term Loan and the allocation respective lengths of Class A Loans and Class B Loans requested; provided, however, that, notwithstanding any contrary specification in any Borrowing Request, (x) the Borrower shall not submit any Class A Borrowing Request unless accompanied by a Class B Borrowing Request initial Interest Periods therefor. Upon receipt of such that notice the aggregate amount of borrowing requested is proportionally split based on the Unrated Class A Advance Rate and the Unrated Class B Advance Rate and (y) each requested borrowing of Loans shall comply with the requirements set forth in Section 2.02. The Administrative Agent shall promptly advise notify each Term Loan Lender thereof. Not later than 11:00 a.m. New York City time, on the Lenders of any notice given pursuant Closing Date each Term Loan Lender shall deposit with the Administrative Agent same day funds in an amount equal to this Section 2.03 (and the contents thereof), and of each such Term Loan Lender’s portion 's Term Loan Percentage of the requested LoansTerm Loans to be made on the Closing Date. Such deposit will be made to an account which the Administrative Agent shall specify by notice to the Term Loan Lenders. Subject to the provisions of Section 9.2, the Administrative Agent shall make such funds available to the Borrower by wire transfer to the accounts the Borrower shall have specified in its Borrowing Request. No Term Loan Lender's obligation to make any Term Loan shall be affected by any other Term Loan Lender's failure to make any Term Loan.

Appears in 2 contracts

Samples: Term Loan Agreement (Specialty Foods Corp), Term Loan Agreement (Specialty Foods Acquisition Corp)

Borrowing Procedure. (a) In order to To request a LoanRevolving Borrowing, the Lead Borrower shall deliver by hand or by facsimile or other electronic means to notify the Administrative Agent of such request by telecopy or electronic transmission (if arrangements for doing so have been approved by the Administrative Agent, which approval shall not be unreasonably withheld, conditioned or delayed) or telephone (promptly confirmed by telecopy or electronic transmission) (i) in the case of a duly completed Borrowing Requestof LIBO Rate Loans, together with the related Addition Notice, Borrowing Base Certificate and data tape or other electronic file containing information regarding the Related Receivables to be transferred on such Funding Date not later than 1:00 p.m., New York City time, one three Business Day Days before the proposed Funding Date. Such Borrowing Base Certificate shall provide the current calculation date of the Class A proposed Borrowing Base and Class B Borrowing Base (i) if such Funding Date is a Settlement Date, as of the end of business on the related Determination Date, or (ii) if such Funding Date is in the case of a Borrowing of Base Rate Loans (other than Swingline Loans), not a Settlement Datelater than 1:00 p.m., as New York City time, on the date of the end of business on proposed Borrowing. Notwithstanding the Determination Date for foregoing, if Lead Borrower wishes to request LIBO Rate Loans having an Interest Period other than one, two, three or six months in duration, or less than one month in duration with the most recent Settlement Date (or as consent of the end Administrative Agent, in each case as provided in the definition of business on such date as agreed “Interest Period,” the applicable notice must be received by the Administrative Agent)Agent not later than 11:00 a.m. four Business Days before the date of the proposed Borrowing having an Interest Period other than one, two, three or six months in duration, whereupon the Administrative Agent shall give prompt notice to each applicable Lender whose consent is required with a relevant Revolving Commitment of such request and determine whether the requested Interest Period is acceptable to all of them. The Not later than 11:00 a.m., three Business Days before the proposed date of such Borrowing having an Interest Period other than one, two, three or six months in duration, the Administrative Agent shall notify Lead Borrower shall submit no more than five (5which notice may be by telephone) Borrowing Requests (and accompanying Addition Notices and Borrowing Base Certificates) per week, unless otherwise agreed whether or not the requested Interest Period has been consented to by such Lenders or the Administrative Agent, as applicable. Each such telephonic Notice of Borrowing Request shall be irrevocable, subject to Sections 2.09, 3.01 and 3.05, and shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written Notice of Borrowing, appropriately completed and signed by or on behalf Lead Borrower. Each such telephonic and written Notice of the Borrower and Borrowing shall specify the following information: (i) the Funding Date of such Loans (which shall be a Business Day); (ii) the number and location of the account to which funds are to be disbursed (which shall be an account that complies information in compliance with the requirements of Section 2.02(c)); and (iii) the aggregate amount to be borrowed and the allocation of Class A Loans and Class B Loans requested; provided, however, that, notwithstanding any contrary specification in any Borrowing Request, (x) the Borrower shall not submit any Class A Borrowing Request unless accompanied by a Class B Borrowing Request such that the aggregate amount of borrowing requested is proportionally split based on the Unrated Class A Advance Rate and the Unrated Class B Advance Rate and (y) each requested borrowing of Loans shall comply with the requirements set forth in Section 2.02. The Administrative Agent shall promptly advise the Lenders of any notice given pursuant to this Section 2.03 (and the contents thereof), and of each Lender’s portion of the requested Loans.:

Appears in 2 contracts

Samples: Revolving Credit Agreement (VERRA MOBILITY Corp), Revolving Credit Agreement (VERRA MOBILITY Corp)

Borrowing Procedure. (a) In order to request a LoanBorrowing, the Borrower shall hand deliver by hand or by facsimile or other electronic means telecopy to the Administrative Agent a duly completed Borrowing RequestRequest (a) in the case of a Eurodollar Borrowing, together with the related Addition Notice, Borrowing Base Certificate and data tape or other electronic file containing information regarding the Related Receivables to be transferred on such Funding Date not later than 1:00 1:45 p.m., New York City time, three Business Days before a proposed Borrowing, and (b) in the case of an ABR Borrowing, not later than 2:00 p.m., New York City time, one Business Day before a proposed Borrowing; PROVIDED that in the proposed Funding Date. Such case of an ABR Borrowing Base Certificate shall provide the current calculation of Borrower may deliver a duly completed Borrowing Request to the Class A Borrowing Base and Class B Borrowing Base (i) if such Funding Date is a Settlement DateAdministrative Agent not later than 2:00 p.m., as of the end of business New York City time, on the related Determination Date, or (ii) if day of a proposed Borrowing so long as the aggregate amount of Loans made pursuant to such Funding Date is not a Settlement Date, as of the end of business on the Determination Date for the most recent Settlement Date (or as of the end of business on such date as agreed by the Administrative Agent). The Borrower shall submit no more than five (5) same day Borrowing Requests (and accompanying Addition Notices and Borrowing Base Certificates) per week, unless otherwise agreed by the Administrative Agentdoes not exceed $10,000,000 on any single day. Each Borrowing Request shall be irrevocable, shall be signed by or on behalf of the Borrower and shall specify the following information: (i) whether the Funding Date Borrowing then being requested is to be a Eurodollar Borrowing or an ABR Borrowing; (ii) the date of such Loans Borrowing (which shall be a Business Day); , (iiiii) the number and location of the account to which funds are to be disbursed (which shall be an account that complies with the requirements of Section 2.02(c)); (iv) the amount of such Borrowing; and (iiiv) the aggregate amount if such Borrowing is to be borrowed and a Eurodollar Borrowing, the allocation of Class A Loans and Class B Loans requestedInterest Period with respect thereto; providedPROVIDED, howeverHOWEVER, that, notwithstanding any contrary specification in any Borrowing Request, (x) the Borrower shall not submit any Class A Borrowing Request unless accompanied by a Class B Borrowing Request such that the aggregate amount of borrowing requested is proportionally split based on the Unrated Class A Advance Rate and the Unrated Class B Advance Rate and (y) each requested borrowing of Loans Borrowing shall comply with the requirements set forth in Section 2.02. If no election as to the Type of Borrowing is specified in any such notice, then the requested Borrowing shall be an ABR Borrowing. If no Interest Period with respect to any Eurodollar Borrowing is specified in any such notice, then the Borrower shall be deemed to have selected an Interest Period of one month's duration. The Administrative Agent shall promptly advise the Lenders of any notice given pursuant to this Section 2.03 (and the contents thereof), and of each Lender’s 's portion of the requested LoansBorrowing.

Appears in 1 contract

Samples: Credit Agreement (Castle & Cooke Inc/Hi/)

Borrowing Procedure. (a) In order to request a Loan, the Borrower shall deliver give Lender notice of each Borrowing by means of a Borrowing Request Form containing the information required therein and delivered (by hand or by facsimile or other electronic means mechanically confirmed facsimile) to the Administrative Agent a duly completed Borrowing Request, together with the related Addition Notice, Borrowing Base Certificate and data tape or other electronic file containing information regarding the Related Receivables to be transferred on such Funding Date not Lender no later than 1:00 p.m.p.m. (Dallas, New York City Texas time) on the day on which the Borrowing is desired to be funded. Lender at its option may accept telephonic requests for such Borrowings, one Business Day before provided that such acceptance shall not constitute a waiver of Lender’s right to require delivery of a Borrowing Request Form in connection with subsequent Borrowings. Any telephonic request for a Borrowing by Borrower shall be promptly confirmed by submission of a properly completed Borrowing Request Form to Lender, but failure to deliver a Borrowing Request Form shall not be a defense to payment of the proposed Funding DateBorrowing. Such Lender shall have no liability to Borrower for any loss or damage suffered by Xxxxxxxx as a result of Xxxxxx’s honoring of any requests, execution of any instructions, authorizations or agreements or reliance on any reports communicated to it telephonically, by facsimile or electronically and purporting to have been sent to Lender by Borrower and Lender shall have no duty to verify the origin of any such communication or the identity or authority of the Person sending it. Subject to the terms and conditions of this Agreement, each Borrowing shall be made available to Borrower by depositing the same, in immediately available funds, in an account of Borrower designated by Borrower maintained with Lender at the Principal Office. If, after giving effect to a requested Borrowing, there is a Borrowing Base Certificate shall provide the current calculation of the Class A Borrowing Base and Class B Borrowing Base (i) if such Funding Date is a Settlement Date, as of the end of business on the related Determination DateDeficiency, or if the Lender determines (iieither then or on any later day in the course of reviewing the same) if that the Borrowing Request Form submitted to it is incomplete or incorrect in any material respect, then the Lender shall withhold the entire Borrowing until Borrower shall have demonstrated to the Lender’s reasonable satisfaction that such Funding Date Borrowing Request Form is in fact not a Settlement Date, as of the end of business on the Determination Date for the most recent Settlement Date (or as of the end of business on such date as agreed by the Administrative Agent). The Borrower shall submit is no more than five (5longer) Borrowing Requests (and accompanying Addition Notices and Borrowing Base Certificates) per week, unless otherwise agreed by the Administrative Agent. Each Borrowing Request shall be irrevocable, shall be signed by incomplete or on behalf of the Borrower and shall specify the following information: (i) the Funding Date of such Loans (which shall be a Business Day); (ii) the number and location of the account to which funds are to be disbursed (which shall be an account that complies with the requirements of Section 2.02(c)); and (iii) the aggregate amount to be borrowed and the allocation of Class A Loans and Class B Loans requested; provided, however, that, notwithstanding any contrary specification incorrect in any Borrowing Request, (x) the Borrower shall not submit any Class A Borrowing Request unless accompanied by a Class B Borrowing Request such that the aggregate amount of borrowing requested is proportionally split based on the Unrated Class A Advance Rate and the Unrated Class B Advance Rate and (y) each requested borrowing of Loans shall comply with the requirements set forth in Section 2.02. The Administrative Agent shall promptly advise the Lenders of any notice given pursuant to this Section 2.03 (and the contents thereof), and of each Lender’s portion of the requested Loansmaterial respect.

Appears in 1 contract

Samples: Credit and Security Agreement (loanDepot, Inc.)

Borrowing Procedure. (a) In order to request a LoanBorrowing, the a Borrower shall hand deliver by hand or by send via facsimile or other electronic means to the Administrative Agent a duly completed Borrowing RequestRequest (i) in the case of a Eurodollar Borrowing, together with the related Addition Notice, Borrowing Base Certificate and data tape or other electronic file containing information regarding the Related Receivables to be transferred on such Funding Date not later than 1:00 p.m.11:00 a.m., New York City time, three Business Days before such Borrowing, and (ii) in the case of an ABR Borrowing, not later than 11:00 a.m., New York City time, one Business Day before the proposed Funding Datesuch Borrowing. Such Borrowing Base Certificate shall provide the current calculation of the Class A Borrowing Base and Class B Borrowing Base (i) if such Funding Date is a Settlement Date, as of the end of business on the related Determination Date, or (ii) if such Funding Date is not a Settlement Date, as of the end of business on the Determination Date for the most recent Settlement Date (or as of the end of business on such date as agreed by the Administrative Agent). The Borrower shall submit no more than five (5) Borrowing Requests (and accompanying Addition Notices and Borrowing Base Certificates) per week, unless otherwise agreed by the Administrative Agent. Each Borrowing Request notice shall be irrevocable, shall be signed by or on behalf of the Borrower irrevocable and shall in each case specify (A) whether the following information: Borrowing then being requested is to be a Eurodollar Borrowing or an ABR Borrowing, (iB) the Funding Date date of such Loans Borrowing (which shall be a Business Day); ) and the amount thereof, and (iiC) the number and location of the account to which funds are if such Borrowing is to be disbursed (a Eurodollar Borrowing, the Interest Period with respect thereto, which shall be an account that complies with not end after the requirements Commitment Termination Date. If no election as to the Type of Section 2.02(c)); and (iii) the aggregate amount to be borrowed and the allocation of Class A Loans and Class B Loans requested; provided, however, that, notwithstanding any contrary specification Borrowing is specified in any such notice, then the requested Borrowing Requestshall be deemed an ABR Borrowing. If no Interest Period with respect to any Eurodollar Borrowing is specified in any such notice, (x) then the Borrower shall not submit any Class A Borrowing Request unless accompanied by a Class B Borrowing Request such that be deemed to have selected an Interest Period of one month’s duration (subject to the aggregate amount of borrowing requested is proportionally split based on the Unrated Class A Advance Rate and the Unrated Class B Advance Rate and (y) each requested borrowing of Loans shall comply with the requirements limitations set forth in the definition of “Interest Period”). If a Borrower shall not have given notice in accordance with this Section 2.02of its election to refinance a Borrowing prior to the end of the Interest Period in effect for such Borrowing, then such Borrower shall (unless such Borrowing is repaid at the end of such Interest Period) be deemed to have given notice of an election to refinance such Borrowing with an ABR Borrowing. Notwithstanding any other provision of this Agreement to the contrary, no Borrowing shall be requested if the Interest Period with respect thereto would end after the Commitment Termination Date. The Administrative Agent shall promptly advise the Lenders of any notice given pursuant to this Section 2.03 (and the contents thereof), and of each Lender’s portion of the requested LoansBorrowing.

Appears in 1 contract

Samples: Revolving Credit Agreement (Txu Us Holdings Co)

Borrowing Procedure. (a) In order to request a LoanBorrowing, the Borrower shall hand deliver by hand or by facsimile or other electronic means telecopy to the Administrative Agent a duly completed Borrowing Request: (a) in the case of a Eurocurrency Rate Borrowing denominated in Dollars, together with the related Addition Notice, Borrowing Base Certificate and data tape or other electronic file containing information regarding the Related Receivables to be transferred on such Funding Date not later than 1:00 p.m.12:00 noon, New York City Dallas, Texas time, one three Business Day Days before such Borrowing, (b) in the proposed Funding Datecase of a Eurocurrency Rate Borrowing denominated in an Alternative Currency, not later than 12:00 noon, Dallas, Texas time, four Business Days before such Borrowing, and (c) in the case of a Base Rate Borrowing or a Eurodollar Daily Floating Rate Borrowing, not later than 12:00 noon, Dallas, Texas time, on the day of such Borrowing. Such Borrowing Base Certificate shall provide the current calculation of the Class A Borrowing Base and Class B Borrowing Base (i) if such Funding Date is a Settlement Date, as of the end of business on the related Determination Date, or (ii) if such Funding Date is not a Settlement Date, as of the end of business on the Determination Date for the most recent Settlement Date (or as of the end of business on such date as agreed by the Administrative Agent). The Borrower shall submit no more than five (5) Borrowing Requests (and accompanying Addition Notices and Borrowing Base Certificates) per week, unless otherwise agreed by the Administrative Agent. Each Borrowing Request notice shall be irrevocable, shall be signed by or on behalf of the Borrower irrevocable and shall specify the following informationin each case specify: (i) whether the Funding Date Borrowing then being requested is to be a Eurocurrency Rate Borrowing, a Base Rate Borrowing or a Eurodollar Daily Floating Rate Borrowing; (ii) whether the Borrowing is a Revolving Borrowing or a Swingline Borrowing and if a Swingline Borrowing, the applicable Available Currency in which the Borrower requests such Borrowing to be denominated; (iii) the date of such Loans Borrowing (which shall be a Business Day); (ii) and the number and location of the account to which funds are to be disbursed (which shall be an account that complies with the requirements of Section 2.02(c))amount thereof; and (iiiiv) the aggregate amount if such Borrowing is to be borrowed and a Eurocurrency Rate Borrowing, the allocation of Class A Loans and Class B Loans requestedInterest Period with respect thereto, which shall not end after the Maturity Date; provided, however, that, notwithstanding any contrary specification in any Borrowing Request, provided that (xA) the Borrower may not request a Eurocurrency Rate Dollar Swingline Borrowing, a Base Rate Australian Dollar Swingline Borrowing nor a Base Rate Euro Swingline Borrowing and (B) each such Borrowing of the type described in clause (A) preceding shall not submit be available herein. If no election as to the Type, currency or facility applicable to such Borrowing is specified in any Class A such notice, then the requested Borrowing Request unless accompanied by will be a Class B Base Rate Dollar Swingline Borrowing. If no Interest Period with respect to any Eurocurrency Rate Borrowing Request is specified in any such that notice, then the aggregate amount Borrower shall be deemed to have selected an Interest Period of borrowing one month’s duration. Notwithstanding any other provision of this Agreement to the contrary, no Borrowing shall be requested if the Interest Period with respect thereto would end after the Maturity Date. When a Revolving Borrowing is proportionally split based on requested, the Unrated Class A Advance Rate and the Unrated Class B Advance Rate and (y) each requested borrowing of Loans shall comply with the requirements set forth in Section 2.02. The Administrative Agent shall promptly advise the Revolving Lenders of any the notice given pursuant to this Section 2.03 (and the contents thereof), and of each Revolving Lender’s portion of the requested LoansBorrowing. When a Swingline Borrowing is requested, the Administrative Agent shall promptly advise the Swingline Lender of the notice given pursuant to this Section 2.03.

Appears in 1 contract

Samples: Revolving Credit Facility Agreement (Lennox International Inc)

Borrowing Procedure. (a) In order to request Each Borrowing, each conversion of a Loan, the Borrower shall deliver by hand or by facsimile or other electronic means Borrowing from one Type to the other, and each continuation of a Eurodollar Rate Borrowing shall be made upon Borrower’s irrevocable notice to Administrative Agent, which may be given by telephone. Each such notice must be received by Administrative Agent not later than 11:00 a.m. (i) two (2) Business Days prior to the requested date of any Borrowing of, conversion to or continuation of a duly completed Eurodollar Rate Borrowing or of any conversion of a Eurodollar Rate Borrowing to a Base Rate Borrowing, and (ii) on the requested date of any Base Rate Borrowing. Each telephonic notice by Borrower pursuant to this Section 2.1(c) must be confirmed promptly by delivery to Administrative Agent of a written Borrowing Request, together with appropriately completed and signed by a Responsible Officer of Borrower. Each Borrowing of, conversion to or continuation of a Eurodollar Rate Borrowing shall be in a principal amount of $1,000,000 or a whole multiple of $200,000 in excess thereof. Each Borrowing of or conversion to a Base Rate Borrowing shall be in a principal amount of $250,000 or a whole multiple of $50,000 in excess thereof; provided that a Base Rate Borrowing may be in an amount equal to the related Addition Notice, Borrowing Base Certificate and data tape or other electronic file containing information regarding the Related Receivables to be transferred on such Funding Date not later than 1:00 p.m., New York City time, one Business Day before the proposed Funding Date. Such Borrowing Base Certificate shall provide the current calculation of the Class A Borrowing Base and Class B Borrowing Base (i) if such Funding Date is a Settlement Date, as of the end of business on the related Determination Date, or (ii) if such Funding Date is not a Settlement Date, as of the end of business on the Determination Date for the most recent Settlement Date (or as of the end of business on such date as agreed by the Administrative Agent). The Borrower shall submit no more than five (5) Borrowing Requests (and accompanying Addition Notices and Borrowing Base Certificates) per week, unless otherwise agreed by the Administrative AgentRevolving Credit Availability. Each Borrowing Request shall be irrevocable, shall be signed by (whether telephonic or on behalf of the Borrower and written) shall specify the following information: (i) whether Borrower is requesting a Borrowing, a conversion of Borrowings from one Type to the Funding Date other, or a continuation of such Loans Borrowings, (ii) the requested date of the Borrowing, conversion or continuation, as the case may be (which shall be a Business Day); (ii) the number and location of the account to which funds are to be disbursed (which shall be an account that complies with the requirements of Section 2.02(c)); and , (iii) the aggregate principal amount of Borrowings to be borrowed, converted or continued, (iv) the Type of Borrowings to be borrowed or to which existing Borrowings are to be converted, and (v) if applicable, the allocation duration of Class A Loans and Class B Loans requested; providedthe Interest Period with respect thereto. If Borrower fails to specify a Type of Borrowing in a Borrowing Request or if Borrower fails to give a timely notice requesting a conversion or continuation, howeverthen the applicable Borrowings shall be made as, thator converted to, notwithstanding any contrary specification Base Rate Borrowings. Any such automatic conversion to Base Rate Borrowings shall be effective as of the last day of the Interest Period then in effect with respect to the applicable Eurodollar Rate Borrowings. If Borrower requests a Borrowing of, conversion to, or continuation of a Eurodollar Rate Borrowing in any such Borrowing Request, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one (x1) the Borrower shall not submit any Class A Borrowing Request unless accompanied by a Class B Borrowing Request such that the aggregate amount of borrowing requested is proportionally split based on the Unrated Class A Advance Rate and the Unrated Class B Advance Rate and (y) each requested borrowing of Loans shall comply with the requirements set forth in Section 2.02. The Administrative Agent shall promptly advise the Lenders of any notice given pursuant to this Section 2.03 (and the contents thereof), and of each Lender’s portion of the requested Loansmonth.

Appears in 1 contract

Samples: Credit Agreement (TriState Capital Holdings, Inc.)

Borrowing Procedure. Subject to the terms and conditions of this Agreement, each Lender severally agrees to advance the Loan to the Borrower and the Borrower agrees to borrow in a single advance on the day following the Note Repurchase Date an amount requested by the Borrower up to the lesser of (a) In order the Commitment Amount and (b) the Note Repurchase Amount on a pro rata basis determined by the Commitment of such Lender. Any portion of the Commitment Amount which remains undrawn after the Advance Date shall no longer be available to request a Loan, the Borrower. No amount of the Loan repaid or prepaid by the Borrower shall deliver by hand or by facsimile or other electronic means may be reborrowed hereunder. By delivering a Borrowing Request to the Administrative Agent a duly completed Borrowing Request, together with the related Addition Notice, Borrowing Base Certificate and data tape on or other electronic file containing information regarding the Related Receivables to be transferred on such Funding Date not later than 1:00 before 6:00 p.m., New York City time, one Business Day on the Note Repurchase Date, the Borrower may irrevocably request a Base Rate Advance. On or before 9:00 a.m., New York time, on the proposed Funding day following the Note Repurchase Date, each Lender shall, without any set-off or counterclaim, deposit with the Administrative Agent same day funds in an amount equal to such Lender's Percentage of the requested Borrowing. Such Borrowing Base Certificate deposit will be made to an account which the Administrative Agent shall provide specify by notice to the current calculation of Lenders. To the Class A Borrowing Base and Class B Borrowing Base (i) if extent funds are so received from the Lenders, the Administrative Agent shall, without any set-off or counterclaim, make such Funding Date is a Settlement Datefunds available to the Borrower on or before 10:00 a.m., as of the end of business New York time, on the related Determination Date, or (ii) if such Funding day following the Note Repurchase Date is not a Settlement Date, as by wire transfer of same day funds to the end of business on the Determination Date for the most recent Settlement Date (or as of the end of business on such date as agreed by the Administrative Agent). The Borrower shall submit no more than five (5) Borrowing Requests (and accompanying Addition Notices and Borrowing Base Certificates) per week, unless otherwise agreed by the Administrative Agent. Each Borrowing Request shall be irrevocable, shall be signed by or on behalf of the Borrower and shall specify the following information: (i) the Funding Date of such Loans (which shall be a Business Day); (ii) the number and location of the account to which funds are to be disbursed (which shall be an account that complies with the requirements of Section 2.02(c)); and (iii) the aggregate amount to be borrowed and the allocation of Class A Loans and Class B Loans requested; provided, however, that, notwithstanding any contrary specification in any Borrowing Request, (x) accounts the Borrower shall not submit have specified in its Borrowing Request. No Lender's obligation to make any Class A Borrowing Request unless accompanied Loan shall be affected by a Class B Borrowing Request such that the aggregate amount of borrowing requested is proportionally split based on the Unrated Class A Advance Rate and the Unrated Class B Advance Rate and (y) each requested borrowing of Loans shall comply with the requirements set forth in Section 2.02. The Administrative Agent shall promptly advise the Lenders of any notice given pursuant other Lender's failure to this Section 2.03 (and the contents thereof), and of each Lender’s portion of the requested Loansmake any Loan.

Appears in 1 contract

Samples: Credit Agreement (Royal Caribbean Cruises LTD)

Borrowing Procedure. (a) In order to request a Loan, the Borrower shall deliver give Administrative Agent notice of each Borrowing by means of a Borrowing Request Form containing the information required therein and delivered (by hand or by facsimile or other electronic means mechanically confirmed facsimile) to the Administrative Agent a duly completed no later than 5:00 p.m. (New York, NY time) on the day prior to which the Borrowing Request, together with the related Addition Notice, Borrowing Base Certificate and data tape or other electronic file containing information regarding the Related Receivables is desired to be transferred on such Funding Date not later than 1:00 p.m., New York City time, one Business Day before the proposed Funding Date. Such Borrowing Base Certificate shall provide the current calculation of the Class A Borrowing Base and Class B Borrowing Base (i) if such Funding Date is a Settlement Date, as of the end of business on the related Determination Date, or (ii) if such Funding Date is not a Settlement Date, as of the end of business on the Determination Date for the most recent Settlement Date (or as of the end of business on such date as agreed by the Administrative Agent). The Borrower shall submit no more than five (5) Borrowing Requests (and accompanying Addition Notices and Borrowing Base Certificates) per week, unless otherwise agreed by the Administrative Agentfunded. Each Borrowing Request shall be irrevocablein an amount no less than $[***] up to the Maximum Facility 16 Credit and Security Agreement / Amount less outstanding Borrowings. Administrative Agent at its option may accept telephonic requests for such Borrowings, provided that such acceptance shall not constitute a waiver of Administrative Agent’s right to require delivery of a Borrowing Request Form in connection with subsequent Borrowings. Any telephonic request for a Borrowing by Borrower shall be signed promptly confirmed by submission of a properly completed Borrowing Request Form to Administrative Agents, but failure to deliver a Borrowing Request Form shall not be a defense to payment of the Borrowing. No Lender shall have liability to Borrower for any loss or damage suffered by Xxxxxxxx as a result of Xxxxxxx’ honoring of any requests, execution of any instructions, authorizations or agreements or reliance on any reports communicated to it telephonically, by facsimile or electronically and purporting to have been sent to Administrative Agent by Xxxxxxxx and Lenders shall have no duty to verify the origin of any such communication or the identity or authority of the Person sending it. Subject to the terms and conditions of this Agreement, each Borrowing shall be made available to Borrower by depositing the same, in immediately available funds, in an account of Borrower designated by Xxxxxxxx maintained with Administrative Agent at the Principal Office. If, after giving effect to a requested Borrowing, there is a Borrowing Base Deficiency, or if Administrative Agent determines (either then or on behalf any later day in the course of reviewing the Borrower and shall specify same) that the following information: (i) the Funding Date of such Loans (which shall be a Business Day); (ii) the number and location of the account Borrowing Request Form submitted to which funds are to be disbursed (which shall be an account that complies with the requirements of Section 2.02(c)); and (iii) the aggregate amount to be borrowed and the allocation of Class A Loans and Class B Loans requested; provided, however, that, notwithstanding any contrary specification it is incomplete or incorrect in any material respect, then Lenders shall withhold the entire Borrowing Request, (x) the until Borrower shall not submit any Class A have demonstrated to Administrative Agent’s reasonable satisfaction that such Borrowing Request unless accompanied by a Class B Borrowing Request such that the aggregate amount of borrowing requested Form is proportionally split based on the Unrated Class A Advance Rate and the Unrated Class B Advance Rate and in fact not (yor is no longer) each requested borrowing of Loans shall comply with the requirements set forth incomplete or incorrect in Section 2.02. The Administrative Agent shall promptly advise the Lenders of any notice given pursuant to this Section 2.03 (and the contents thereof), and of each Lender’s portion of the requested Loansmaterial respect.

Appears in 1 contract

Samples: Credit and Security Agreement (loanDepot, Inc.)

Borrowing Procedure. (a) In order to request a LoanBorrowing, the Borrower shall hand deliver by hand or by facsimile or other electronic means telecopy to the Administrative Applicable Agent a duly completed Borrowing RequestRequest (a) in the case of a Eurocurrency Borrowing or a CD Borrowing, together with the related Addition Notice, Borrowing Base Certificate and data tape or other electronic file containing information regarding the Related Receivables to be transferred on such Funding Date not later than 1:00 3:00 p.m., New York City timeLocal Time, one three Business Day Days before the proposed Funding Borrowing Date and (b) in the case of an ABR Borrowing, not later than 10:30 a.m., Local Time, on the Borrowing Date. Such Borrowing Base Certificate shall provide the current calculation of the Class A Borrowing Base and Class B Borrowing Base (i) if such Funding Date is a Settlement Date, as of the end of business on the related Determination Date, or (ii) if such Funding Date is not a Settlement Date, as of the end of business on the Determination Date for the most recent Settlement Date (or as of the end of business on such date as agreed by the Administrative Agent). The Borrower shall submit no more than five (5) Borrowing Requests (and accompanying Addition Notices and Borrowing Base Certificates) per week, unless otherwise agreed by the Administrative Agent. Each Borrowing Request notice shall be irrevocable, shall be signed by or on behalf of the Borrower irrevocable and shall in each case specify the following information: (i) the Funding Date Class of such Loans (which shall be a Business Day); the Borrowing then being requested, (ii) in the number and location case of the account to which funds are a Tranche A Borrowing, whether such Borrowing is to be disbursed (which shall be a Eurocurrency Borrowing, a CD Borrowing or an account that complies with the requirements of Section 2.02(c))ABR Borrowing; and (iii) the aggregate amount of such Borrowing; and (iv) the Interest Period with respect thereto. If no election as to be borrowed and the allocation Type of Class a Tranche A Loans and Class B Loans requested; provided, however, that, notwithstanding any contrary specification Borrowing is specified in any such Borrowing Request, then (xA) if each Borrowing Request shall have been delivered at least 3 Business Days prior to any funding date, the requested Borrowing shall be a Eurocurrency Borrowing with an Interest Period of one month and (B) otherwise, the requested Borrowing shall be an ABR Borrowing with an Interest Period of seven days. If no Interest Period with respect to any Eurocurrency Borrowing or CD Borrowing is specified in any such Borrowing Request, then the Borrower shall not submit any Class A Borrowing Request unless accompanied by be deemed to have selected an Interest Period of one month's duration in the case of a Class B Borrowing Request such that Eurocurrency Borrowing, 30 days' duration, in the aggregate amount case of borrowing requested is proportionally split based on a CD Borrowing, and seven days' duration in the Unrated Class A Advance Rate and the Unrated Class B Advance Rate and (y) each requested borrowing case of Loans shall comply with the requirements set forth in Section 2.02an ABR Borrowing. The Administrative Applicable Agent shall promptly advise the Lenders of any notice each Borrowing Request given pursuant to this Section 2.03 (and the contents thereof), and of each Lender’s 's portion of the each requested LoansBorrowing.

Appears in 1 contract

Samples: Term Loan Agreement (Goodyear Tire & Rubber Co /Oh/)

Borrowing Procedure. (a) In order to request a LoanBorrowing, the Borrower shall deliver by hand or by facsimile or other electronic means to provide the Administrative Agent Agent, via hand delivery, telecopy or telephone (promptly confirmed via telecopy), a duly completed Borrowing RequestRequest in the form of Exhibit A (a) in the case of a Eurodollar Borrowing, together with the related Addition Notice, Borrowing Base Certificate and data tape or other electronic file containing information regarding the Related Receivables to be transferred on such Funding Date not later than 1:00 p.m.11:00 a.m., New York City time, three Business Days before such Borrowing, and (b) in the case of an ABR Borrowing, not later than 11:00 a.m., New York City time, one Business Day before the proposed Funding Datesuch Borrowing. Such Borrowing Base Certificate notice shall provide the current calculation of the Class A Borrowing Base be irrevocable and Class B Borrowing Base shall in each case specify (i) if such Funding Date whether the Borrowing then being requested is to be a Settlement Date, as of the end of business on the related Determination Date, Eurodollar Borrowing or an ABR Borrowing; (ii) if such Funding Date is not a Settlement Date, as of the end of business on the Determination Date for the most recent Settlement Date (or as of the end of business on such date as agreed by the Administrative Agent). The Borrower shall submit no more than five (5) Borrowing Requests (and accompanying Addition Notices and Borrowing Base Certificates) per week, unless otherwise agreed by the Administrative Agent. Each Borrowing Request shall be irrevocable, shall be signed by or on behalf of the Borrower and shall specify the following information: (i) the Funding Date of such Loans Borrowing (which shall be a Business Day); (ii) and the number and location of the account to which funds are to be disbursed (which shall be an account that complies with the requirements of Section 2.02(c))amount thereof; and (iii) the aggregate amount if such Borrowing is to be borrowed and a Eurodollar Borrowing, the allocation Interest Period with respect thereto, which shall not end after the Maturity Date. If no election as to the Type of Class A Loans and Class B Loans requested; provided, however, that, notwithstanding any contrary specification Borrowing is specified in any such notice, then the requested Borrowing Requestshall be an ABR Borrowing. If no Interest Period with respect to any Eurodollar Borrowing is specified in any such notice, then the Borrower shall be deemed to have selected an Interest Period of one month's duration (x) subject to the limitations set forth in the definition of "Interest Period"). If the Borrower shall not submit have given notice in accordance with this Section 2.03 of its election to refinance a Borrowing prior to the end of the Interest Period in effect for such Borrowing, then the Borrower shall (unless such Borrowing is repaid at the end of such Interest Period) be deemed to have given notice of an election to refinance such Borrowing with an ABR Borrowing. Notwithstanding any Class A other provision of this Agreement to the contrary, no Borrowing Request unless accompanied by a Class B Borrowing Request such that shall be requested if the aggregate amount of borrowing requested is proportionally split based on Interest Period with respect thereto would end after the Unrated Class A Advance Rate and the Unrated Class B Advance Rate and (y) each requested borrowing of Loans shall comply with the requirements set forth in Section 2.02Maturity Date. The Administrative Agent shall promptly advise the Lenders of any notice given pursuant to this Section 2.03 (and the contents thereof), and of each Lender’s 's portion of the requested LoansBorrowing.

Appears in 1 contract

Samples: Credit Agreement (Txu Corp /Tx/)

Borrowing Procedure. (a) In order to request a LoanBorrowing, the applicable Borrower shall deliver by hand or by facsimile or other electronic means give telephonic notice to the Administrative Agent (confirmed by hand delivery or telecopy of a duly completed Borrowing RequestRequest in the form of Exhibit A), together with (a) in the related Addition Noticecase of a Eurocurrency Borrowing, Borrowing Base Certificate and data tape or other electronic file containing information regarding the Related Receivables to be transferred on such Funding Date not later than 1:00 p.m.12:00 noon, London time, three Business Days before a proposed borrowing and (b) in the case of an ABR Borrowing, not later than 11:00 a.m., New York City time, one on the Business Day before the of a proposed Funding Dateborrowing. Such Borrowing Base Certificate notice shall provide the current calculation of the Class A Borrowing Base be irrevocable and Class B Borrowing Base shall in each case specify (i) if such Funding Date is in the case of a Settlement Borrowing on the Effective Date, as of whether the end of business on the related Determination Daterequested Borrowing is to be a Term Borrowing or a Revolving Borrowing, or (ii) if such Funding Date whether the Borrowing then being requested is not to be a Settlement DateEurocurrency Borrowing or an ABR Borrowing, as of the end of business on the Determination Date for the most recent Settlement Date (or as of the end of business on such date as agreed by the Administrative Agent). The Borrower shall submit no more than five (5) Borrowing Requests (and accompanying Addition Notices and Borrowing Base Certificates) per week, unless otherwise agreed by the Administrative Agent. Each Borrowing Request shall be irrevocable, shall be signed by or on behalf of the Borrower and shall specify the following information: (iiii) the Funding Date date of such Loans Borrowing (which shall be a Business Day); , (ii) the number and location of the account to which funds are to be disbursed (which shall be an account that complies with the requirements of Section 2.02(c)); and (iiiiv) the aggregate principal amount of such Borrowing, (v) the currency of such Borrowing (which, in the case of an ABR Revolving Borrowing, shall be Dollars) and (v) if such Borrowing is to be borrowed and a Eurocurrency Borrowing, the allocation Interest Period with respect thereto. If no election as to the currency of Class A Loans and Class B Loans requested; provided, however, that, notwithstanding any contrary specification a Eurocurrency Revolving Borrowing is specified in any Borrowing Request, (x) then the applicable Borrower shall not submit any Class A be deemed to have requested a Revolving Borrowing Request unless accompanied by a Class B in Dollars. If no election as to the Type of Revolving Borrowing Request such that the aggregate amount of borrowing requested is proportionally split based on the Unrated Class A Advance Rate and the Unrated Class B Advance Rate and (y) each requested borrowing of Loans shall comply with the requirements set forth in Section 2.02. The Administrative Agent shall promptly advise the Lenders of any notice given pursuant to this Section 2.03 (and the contents thereof)specified, and of each Lender’s portion of then the requested LoansRevolving Borrowing shall be an ABR Revolving Borrowing if denominated in Dollars or a Eurocurrency Revolving Borrowing if denominated in Sterling. If no Interest Period with respect to any Eurocurrency Revolving Borrowing is specified, then the applicable Borrower shall be deemed to have selected an Interest Period of one month's duration.

Appears in 1 contract

Samples: Credit Agreement (Sothebys Holdings Inc)

Borrowing Procedure. (a) In order to request a Loan, the Borrower shall deliver give Lender notice of each Borrowing by means of a Borrowing Request Form containing the information required therein and delivered (by hand or by facsimile or other electronic means mechanically confirmed facsimile) to the Administrative Agent a duly completed Borrowing Request, together with the related Addition Notice, Borrowing Base Certificate and data tape or other electronic file containing information regarding the Related Receivables to be transferred on such Funding Date not Lender no later than 1:00 p.m.p.m. (Dallas, New York City Texas time) on the day on which the Borrowing is desired to be funded. Lender at its option may accept telephonic requests for such Borrowings, one Business Day before provided that such acceptance shall not constitute a waiver of Lender’s right to require delivery of a Borrowing Request Form in connection with subsequent Borrowings. Any telephonic request for a Borrowing by Borrower shall be promptly confirmed by submission of a properly completed Borrowing Request Form to Lender, but failure to deliver a Borrowing Request Form shall not be a defense to payment of the proposed Funding DateBorrowing. Such Lender shall have no liability to Borrower for any loss or damage suffered by Borrower as a result of Lender’s honoring of any requests, execution of any instructions, authorizations or agreements or reliance on any reports communicated to it telephonically, by facsimile or electronically and purporting to have been sent to Lender by Borrower and Lender shall have no duty to verify the origin of any such communication or the identity or authority of the Person sending it. Subject to the terms and conditions of this Agreement, each Borrowing shall be made available to Borrower by depositing the same, in immediately available funds, in an account of Borrower designated by Borrower maintained with Lender at the Principal Office. If, after giving effect to a requested Borrowing, there is a Borrowing Base Certificate shall provide the current calculation of the Class A Borrowing Base and Class B Borrowing Base (i) if such Funding Date is a Settlement Date, as of the end of business on the related Determination DateDeficiency, or if the Lender determines (iieither then or on any later day in the course of reviewing the same) if such Funding Date is not a Settlement Date, as of that the end of business on the Determination Date for the most recent Settlement Date (or as of the end of business on such date as agreed by the Administrative Agent). The Borrower shall submit no more than five (5) Borrowing Requests (and accompanying Addition Notices and Borrowing Base Certificates) per week, unless otherwise agreed by the Administrative Agent. Each Borrowing Request shall be irrevocable, shall be signed by Form submitted to it is incomplete or on behalf of the Borrower and shall specify the following information: (i) the Funding Date of such Loans (which shall be a Business Day); (ii) the number and location of the account to which funds are to be disbursed (which shall be an account that complies with the requirements of Section 2.02(c)); and (iii) the aggregate amount to be borrowed and the allocation of Class A Loans and Class B Loans requested; provided, however, that, notwithstanding any contrary specification incorrect in any Borrowing Requestmaterial respect, (x) then the Borrower shall not submit any Class A Borrowing Request unless accompanied by a Class B Borrowing Request such that the aggregate amount of borrowing requested is proportionally split based on the Unrated Class A Advance Rate and the Unrated Class B Advance Rate and (y) each requested borrowing of Loans shall comply with the requirements set forth in Section 2.02. The Administrative Agent shall promptly advise the Lenders of any notice given pursuant to this Section 2.03 (and the contents thereof), and of each Lender’s portion of the requested Loans.

Appears in 1 contract

Samples: Credit and Security Agreement (loanDepot, Inc.)

Borrowing Procedure. (a) In order to request effect a LoanBorrowing, the Borrower shall hand deliver or telecopy (or transmit by hand or electronic communications pursuant to procedures approved by facsimile or other electronic means the Administrative Agent) to the Administrative Agent a duly completed Borrowing RequestRequest (a) in the case of a LIBOR Borrowing, together with the related Addition Notice, Borrowing Base Certificate and data tape or other electronic file containing information regarding the Related Receivables to be transferred on such Funding Date not later than 1:00 p.m.11:00 a.m., New York City time, one Business Day three Working Days before a proposed Borrowing and (b) in the case of an ABR Borrowing, not later than 11:00 a.m., New York City time, on the day of a proposed Funding DateBorrowing. Such Borrowing Base Certificate shall provide the current calculation of the Class A Borrowing Base and Class B Borrowing Base (i) if such Funding Date is a Settlement Date, as of the end of business on the related Determination Date, or (ii) if such Funding Date is not a Settlement Date, as of the end of business on the Determination Date for the most recent Settlement Date (or as of the end of business on such date as agreed by the Administrative Agent). The Borrower shall submit no more than five (5) Borrowing Requests (and accompanying Addition Notices and Borrowing Base Certificates) per week, unless otherwise agreed by the Administrative Agent. Each Borrowing Request notice shall be irrevocable, shall be signed by or on behalf of the Borrower irrevocable and shall in each case specify (A) whether the following information: Borrowing then being requested is to be a LIBOR Borrowing or an ABR Borrowing, (iB) the Funding Date date of such Loans Borrowing (which shall be a Business Working Day); ) and the amount thereof and (iiC) the number and location of the account to which funds are if such Borrowing is to be disbursed (which a LIBOR Borrowing, the Interest Period with respect thereto. If no election as to the Interest Rate Type of a Borrowing is specified in any such Borrowing Request, then the requested Borrowing shall be an account that complies ABR Borrowing. If no Interest Period with the requirements of Section 2.02(c)); and (iii) the aggregate amount respect to be borrowed and the allocation of Class A Loans and Class B Loans requested; provided, however, that, notwithstanding any contrary specification LIBOR Borrowing is specified in any such Borrowing Request, (x) then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. If the Borrower shall not submit any Class A have given notice in accordance with this Section 2.5 of its election to refinance a Borrowing Request prior to the end of the Interest Period in effect for such Borrowing, then the Borrower shall (unless accompanied by a Class B such Borrowing Request is repaid at the end of such that the aggregate amount Interest Period) be deemed to have given notice of borrowing requested is proportionally split based on the Unrated Class A Advance Rate and the Unrated Class B Advance Rate and (y) each requested borrowing of Loans shall comply an election to refinance such Borrowing with the requirements set forth in Section 2.02an ABR Borrowing. The Administrative Agent shall promptly advise the applicable Lenders of any notice given pursuant to this Section 2.03 (and the contents thereof), 2.5 and of each such Lender’s portion of the requested LoansBorrowing.

Appears in 1 contract

Samples: Credit Agreement (PHH Corp)

Borrowing Procedure. (a) In order to request a LoanBorrowing to refinance Loans made under Section 2.04(b) or to refinance any such Borrowing, the Borrower shall deliver by hand or by facsimile or other electronic means to provide the Administrative Agent Agent, via hand delivery, telecopy or telephone (promptly confirmed via telecopy), a duly completed Borrowing RequestRequest in the form of Exhibit A (a) in the case of a Eurodollar Borrowing, together with the related Addition Notice, Borrowing Base Certificate and data tape or other electronic file containing information regarding the Related Receivables to be transferred on such Funding Date not later than 1:00 p.m.11:00 a.m., New York City time, three Business Days before such Borrowing, and (b) in the case of an ABR Borrowing, not later than 11:00 a.m., New York City time, one Business Day before the proposed Funding Datesuch Borrowing. Such Borrowing Base Certificate notice shall provide the current calculation of the Class A Borrowing Base be irrevocable and Class B Borrowing Base shall in each case specify (i) if such Funding Date whether the Borrowing then being requested is to be a Settlement Date, as of the end of business on the related Determination Date, Eurodollar Borrowing or an ABR Borrowing; (ii) if such Funding Date is not a Settlement Date, as of the end of business on the Determination Date for the most recent Settlement Date (or as of the end of business on such date as agreed by the Administrative Agent). The Borrower shall submit no more than five (5) Borrowing Requests (and accompanying Addition Notices and Borrowing Base Certificates) per week, unless otherwise agreed by the Administrative Agent. Each Borrowing Request shall be irrevocable, shall be signed by or on behalf of the Borrower and shall specify the following information: (i) the Funding Date of such Loans Borrowing (which shall be a Business Day); (ii) and the number and location of the account to which funds are to be disbursed (which shall be an account that complies with the requirements of Section 2.02(c))amount thereof; and (iii) the aggregate amount if such Borrowing is to be borrowed and a Eurodollar Borrowing, the allocation Interest Period with respect thereto, which shall not end after the Maturity Date. If no election as to the Type of Class A Loans and Class B Loans requested; provided, however, that, notwithstanding any contrary specification Borrowing is specified in any such notice, then the requested Borrowing Requestshall be an ABR Borrowing. If no Interest Period with respect to any Eurodollar Borrowing is specified in any such notice, then the Borrower shall be deemed to have selected an Interest Period of one month's duration (x) subject to the limitations set forth in the definition of "Interest Period"). If the Borrower shall not submit have given notice in accordance with this Section 2.03 of its election to refinance a Borrowing prior to the end of the Interest Period in effect for such Borrowing, then the Borrower shall (unless such Borrowing is repaid at the end of such Interest Period) be deemed to have given notice of an election to refinance such Borrowing with an ABR Borrowing. Notwithstanding any Class A other provision of this Agreement to the contrary, no Borrowing Request unless accompanied by a Class B Borrowing Request such that shall be requested if the aggregate amount of borrowing requested is proportionally split based on Interest Period with respect thereto would end after the Unrated Class A Advance Rate and the Unrated Class B Advance Rate and (y) each requested borrowing of Loans shall comply with the requirements set forth in Section 2.02Maturity Date. The Administrative Agent shall promptly advise the Lenders of any notice given pursuant to this Section 2.03 (and the contents thereof), and of each Lender’s 's portion of the requested LoansBorrowing.

Appears in 1 contract

Samples: Credit Agreement (Txu Corp /Tx/)

Borrowing Procedure. (a) In order to To request a LoanBorrowing, the Borrower shall hand deliver by hand or by facsimile or other electronic means telecopy to the Administrative Agent a duly completed Borrowing Requestborrowing request in the form of Exhibit A hereto (a) in the case of a Eurodollar Borrowing, together with the related Addition Notice, Borrowing Base Certificate and data tape or other electronic file containing information regarding the Related Receivables to be transferred on such Funding Date not later than 1:00 p.m., New York City time, one three Business Day Days before any such proposed Borrowing and (b) in the case of an ABR Borrowing, not later than 12:00 noon, New York City time (except that the Borrower shall use its best efforts to make such request by 11:00 a.m., New York City time), on the day of such proposed Funding DateBorrowing. Such Borrowing Base Certificate notice shall provide the current calculation of the Class A Borrowing Base be irrevocable and Class B Borrowing Base shall in each case specify (i) if whether such Funding Date Borrowing is to be of Revolving Loans or Incremental Loans, a Settlement DateEurodollar Borrowing or an ABR Borrowing, as of the end of business on the related Determination Date, or (ii) if such Funding Date is not a Settlement Date, as of the end of business on the Determination Date for the most recent Settlement Date (or as of the end of business on such date as agreed by the Administrative Agent). The Borrower shall submit no more than five (5) Borrowing Requests (and accompanying Addition Notices and Borrowing Base Certificates) per week, unless otherwise agreed by the Administrative Agent. Each Borrowing Request shall be irrevocable, shall be signed by or on behalf of the Borrower and shall specify the following information: (i) the Funding Date of such Loans Borrowing (which shall be a Business Day); (ii) and the number and location of the account to which funds are to be disbursed (which shall be an account that complies with the requirements of Section 2.02(c)); amount thereof and (iii) the aggregate amount if such Borrowing is to be borrowed and a Eurodollar Borrowing, the allocation Interest Period with respect thereto. If no election as to the Type of Class A Loans and Class B Loans requested; provided, however, that, notwithstanding any contrary specification Borrowing is specified in any such notice, then the requested Borrowing Requestshall be an ABR Borrowing. If no Interest Period with respect to any Eurodollar Borrowing is specified in any such notice, (x) then the Borrower shall be deemed to have selected an Interest Period of one month's duration. If the Borrower shall not submit any Class A have given notice in accordance with this Section 2.03 of its election to continue or convert a Borrowing Request prior to the end of the Interest Period in effect for such Borrowing, then the Borrower shall (unless accompanied by a Class B such Borrowing Request is repaid at the end of such that the aggregate amount Interest Period) be deemed to have given notice of borrowing requested is proportionally split based on the Unrated Class A Advance Rate and the Unrated Class B Advance Rate and (y) each requested borrowing of Loans shall comply an election to convert or continue such Borrowing with the requirements set forth in Section 2.02an ABR Borrowing. The Administrative Agent shall promptly advise the Lenders of any notice given pursuant to this Section 2.03 (and the contents thereof), and of each Lender’s 's portion of the requested LoansBorrowing.

Appears in 1 contract

Samples: Pledge Agreement (Metris Companies Inc)

Borrowing Procedure. (a) In order to request a Loan, the Borrower shall deliver give Lender notice of each Borrowing by means of a Borrowing Request Form containing the information required therein and delivered (by hand or by facsimile or other electronic means mechanically confirmed facsimile) to the Administrative Agent a duly completed Borrowing Request, together with the related Addition Notice, Borrowing Base Certificate and data tape or other electronic file containing information regarding the Related Receivables to be transferred on such Funding Date not Lender no later than 1:00 p.m.p.m. (Dallas, New York City Texas time) on the day on which the Borrowing is desired to be funded. Lender at its option may accept telephonic requests for such Borrowings, one Business Day before provided that such acceptance shall not constitute a waiver of Lender’s right to require delivery of a Borrowing Request Form in connection with subsequent Borrowings. Any telephonic request for a Borrowing by Borrower shall be promptly confirmed by submission of a properly completed Borrowing Request Form to Lender, but failure to deliver a Borrowing Request Form shall not be a defense to payment of the proposed Funding DateBorrowing. Such Lender shall have no liability to Borrower for any loss or damage suffered by Borrower as a result of Lender’s honoring of any requests, execution of any instructions, authorizations or agreements or reliance on any reports communicated to it telephonically, by facsimile or electronically and purporting to have been sent to Lender by Borrower and Lender shall have no duty to verify the origin of any such communication or the identity or 18 Credit and Security Agreement authority of the Person sending it. Subject to the terms and conditions of this Agreement, each Borrowing shall be made available to Borrower by depositing the same, in immediately available funds, in an account of Borrower designated by Borrower maintained with Lender at the Principal Office. If, after giving effect to a requested Borrowing, there is a Borrowing Base Certificate shall provide the current calculation of the Class A Borrowing Base and Class B Borrowing Base (i) if such Funding Date is a Settlement Date, as of the end of business on the related Determination DateDeficiency, or if the Lender determines (iieither then or on any later day in the course of reviewing the same) if that the Borrowing Request Form submitted to it is incomplete or incorrect in any material respect, then the Lender shall withhold the entire Borrowing until Borrower shall have demonstrated to the Lender’s reasonable satisfaction that such Funding Date Borrowing Request Form is in fact not a Settlement Date, as of the end of business on the Determination Date for the most recent Settlement Date (or as of the end of business on such date as agreed by the Administrative Agent). The Borrower shall submit is no more than five (5longer) Borrowing Requests (and accompanying Addition Notices and Borrowing Base Certificates) per week, unless otherwise agreed by the Administrative Agent. Each Borrowing Request shall be irrevocable, shall be signed by incomplete or on behalf of the Borrower and shall specify the following information: (i) the Funding Date of such Loans (which shall be a Business Day); (ii) the number and location of the account to which funds are to be disbursed (which shall be an account that complies with the requirements of Section 2.02(c)); and (iii) the aggregate amount to be borrowed and the allocation of Class A Loans and Class B Loans requested; provided, however, that, notwithstanding any contrary specification incorrect in any Borrowing Request, (x) the Borrower shall not submit any Class A Borrowing Request unless accompanied by a Class B Borrowing Request such that the aggregate amount of borrowing requested is proportionally split based on the Unrated Class A Advance Rate and the Unrated Class B Advance Rate and (y) each requested borrowing of Loans shall comply with the requirements set forth in Section 2.02. The Administrative Agent shall promptly advise the Lenders of any notice given pursuant to this Section 2.03 (and the contents thereof), and of each Lender’s portion of the requested Loansmaterial respect.

Appears in 1 contract

Samples: Credit and Security Agreement (loanDepot, Inc.)

Borrowing Procedure. (a) In order By delivering a Borrowing Request to request the Agent at the Agent's Atlanta Office on or before 11:00 a.m., New York City time, on a LoanBusiness Day, the Borrower shall deliver by hand or by facsimile or other electronic means may from time to time request, (i) in the Administrative Agent case of Expansion Loans, on not less than two (2) Business Days' nor more than three (3) Business Days' notice and (ii) in the case of Revolving Credit Loans, on not less than two (2) Business Days' notice, that a duly completed Borrowing of Loans be made on the Business Day specified in such Borrowing Request, together with the related Addition Notice, . The Borrowing Base Certificate and data tape or other electronic file containing information regarding the Related Receivables Request shall specify whether such Borrowing is to be transferred made as Expansion Loans or Revolving Credit Loans. Borrowings of Expansion Loans shall be in a minimum aggregate amount equal to $250,000 and in integral multiples of $50,000 or, if less, the amount of the Expansion Loan Availability immediately prior to such Borrowing. Borrowings of Revolving Credit Loans shall be in a minimum aggregate amount equal to $50,000 and in integral multiples of $50,000 or, if less, the amount of the Revolving Credit Availability immediately prior to such Borrowing. Each Borrowing shall be made on the Business Day specified in the Borrowing Request therefor (including the initial Borrowing to be made on the Closing Date). On such Funding Date not later than 1:00 Business Day, each Lender shall, on or before 2:00 p.m., New York City time, one deposit same day funds with the Agent in an amount equal to such Lender's Percentage of the requested Borrowing, such deposit to be made to such account as the Agent shall specify from time to time by notice to the Lenders. On the Business Day before specified by the proposed Funding Date. Such Borrower in the Borrowing Base Certificate Request, the proceeds of all Borrowings shall provide be made available to the current calculation Borrower by wire transfer of such proceeds to such transferees, or to such accounts of the Class A Borrowing Base and Class B Borrowing Base (i) if such Funding Date is a Settlement DateBorrower, as of the end of business on the related Determination Date, or (ii) if such Funding Date is not a Settlement Date, as of the end of business on the Determination Date for the most recent Settlement Date (or as of the end of business on such date as agreed by the Administrative Agent). The Borrower shall submit no more than five (5) Borrowing Requests (and accompanying Addition Notices and Borrowing Base Certificates) per week, unless otherwise agreed by have specified in the Administrative Agent. Each Borrowing Request shall be irrevocable, shall be signed by or on behalf of the Borrower and shall specify the following information: (i) the Funding Date of such Loans (which shall be a Business Day); (ii) the number and location of the account to which funds are to be disbursed (which shall be an account that complies with the requirements of Section 2.02(c)); and (iii) the aggregate amount to be borrowed and the allocation of Class A Loans and Class B Loans requestedtherefor; provided, however, that, notwithstanding any contrary specification that in each case the Agent shall be required to make available to the Borrower the proceeds of any Borrowing Request, (x) only to the Borrower extent received by it in same day funds from the Lenders. No Lender's obligation to make any Loan shall not submit be affected by any Class A Borrowing Request unless accompanied by a Class B Borrowing Request such that the aggregate amount of borrowing requested is proportionally split based on the Unrated Class A Advance Rate and the Unrated Class B Advance Rate and (y) each requested borrowing of Loans shall comply with the requirements set forth in Section 2.02. The Administrative Agent shall promptly advise the Lenders of other Lender's failure to make any notice given pursuant to this Section 2.03 (and the contents thereof), and of each Lender’s portion of the requested LoansLoan.

Appears in 1 contract

Samples: Credit Agreement (Ing Us Capital Corp)

Borrowing Procedure. (a) In order to request a LoanBorrowing, the a Borrower shall hand deliver by hand or by facsimile or other electronic means telecopy to the Administrative Agent a duly completed Borrowing RequestRequest (i) in the case of a Eurodollar Borrowing, together with the related Addition Notice, Borrowing Base Certificate and data tape or other electronic file containing information regarding the Related Receivables to be transferred on such Funding Date not later than 1:00 p.m.11:00 a.m., New York City time, three Business Days before such Borrowing, and (ii) in the case of an ABR Borrowing, not later than 11:00 a.m., New York City time, one Business Day before the proposed Funding Datesuch Borrowing. Such Borrowing Base Certificate shall provide the current calculation of the Class A Borrowing Base and Class B Borrowing Base (i) if such Funding Date is a Settlement Date, as of the end of business on the related Determination Date, or (ii) if such Funding Date is not a Settlement Date, as of the end of business on the Determination Date for the most recent Settlement Date (or as of the end of business on such date as agreed by the Administrative Agent). The Borrower shall submit no more than five (5) Borrowing Requests (and accompanying Addition Notices and Borrowing Base Certificates) per week, unless otherwise agreed by the Administrative Agent. Each Borrowing Request notice shall be irrevocable, shall be signed by or on behalf of the Borrower irrevocable and shall in each case specify (A) whether the following information: Borrowing then being requested is to be a Eurodollar Borrowing or an ABR Borrowing, (iB) the Funding Date Tranche of such Loans Borrowing, (C) the date of such Borrowing (which shall be a Business Day); ) and the amount thereof, and (iiD) the number and location of the account to which funds are if such Borrowing is to be disbursed (a Eurodollar Borrowing, the Interest Period with respect thereto, which shall not end after the Applicable Commitment Termination Date, in the case of Tranche B Borrowings and Tranche C Borrowings, or the Term Loan Maturity Date, in the case of Tranche A Borrowings. If no election as to the Type of Borrowing is specified in any such notice, then the requested Borrowing shall be an account that complies ABR Borrowing. If no Interest Period with the requirements of Section 2.02(c)); and (iii) the aggregate amount respect to be borrowed and the allocation of Class A Loans and Class B Loans requested; provided, however, that, notwithstanding any contrary specification Eurodollar Borrowing is specified in any Borrowing Requestsuch notice, (x) then the Borrower shall not submit any Class A Borrowing Request unless accompanied by a Class B Borrowing Request such that be deemed to have selected an Interest Period of one month's duration (subject to the aggregate amount of borrowing requested is proportionally split based on the Unrated Class A Advance Rate and the Unrated Class B Advance Rate and (y) each requested borrowing of Loans shall comply with the requirements limitations set forth in the definition of "Interest Period"). If a Borrower shall not have given notice in accordance with this Section 2.02of its election to refinance a Borrowing prior to the end of the Interest Period in effect for such Borrowing, then such Borrower shall (unless such Borrowing is repaid at the end of such Interest Period) be deemed to have given notice of an election to refinance such Borrowing with an ABR Borrowing. Notwithstanding any other provision of this Agreement to the contrary, no Borrowing shall be requested if the Interest Period with respect thereto would end after the Applicable Commitment Termination Date, in the case of Tranche B Borrowings and Tranche C Borrowings, or the Term Loan Maturity Date, in the case of Tranche A Borrowings. The Administrative Agent shall promptly advise the Lenders of any notice given pursuant to this Section 2.03 (and the contents thereof), and of each Lender’s 's portion of the requested LoansBorrowing.

Appears in 1 contract

Samples: Credit Agreement (Txu Corp /Tx/)

Borrowing Procedure. (a) In order to request a LoanBorrowing, the Borrower shall hand deliver by hand or by facsimile or other electronic means telecopy to the Administrative Agent a duly completed Borrowing RequestRequest substantially in the form of Exhibit C (a) in the case of a Eurodollar Borrowing, together with the related Addition Notice, Borrowing Base Certificate and data tape or other electronic file containing information regarding the Related Receivables to be transferred on such Funding Date not later than 1:00 p.m.12:00 (noon), New York City time, three Business Days before a proposed Borrowing, and (b) in the case of an ABR Borrowing, not later than 12:00 noon, New York City time, one Business Day before the a proposed Funding Date. Such Borrowing; provided, however, that Borrowing Base Certificate shall provide the current calculation of the Class A Borrowing Base and Class B Borrowing Base (i) if such Funding Date is a Settlement Date, as of the end of business Requests with respect to Borrowings to be made on the related Determination DateClosing Date may, or (ii) if such Funding Date is not a Settlement Date, as at the discretion of the end of business on the Determination Date for the most recent Settlement Date (or as of the end of business on such date as agreed by the Administrative Agent). The Borrower shall submit no more , be delivered later than five (5) Borrowing Requests (and accompanying Addition Notices and Borrowing Base Certificates) per week, unless otherwise agreed by the Administrative Agenttimes specified above. Each Borrowing Request shall be irrevocable, shall be signed by or on behalf of the Borrower and shall specify the following information: (i) whether the Funding Date Borrowing then being requested is to be a Term Borrowing or a Revolving Credit Borrowing and whether such Borrowing is to be a Eurodollar Borrowing or an ABR Borrowing; (ii) the date of such Loans Borrowing (which shall be a Business Day); (ii) the number and location of the account to which funds are to be disbursed (which shall be an account that complies with the requirements of Section 2.02(c)); and , (iii) the aggregate amount of such Borrowing; and (iv) if such Borrowing is to be borrowed and a Eurodollar Borrowing, the allocation of Class A Loans and Class B Loans requestedInterest Period with respect thereto; provided, however, that, notwithstanding any contrary specification in any Borrowing Request, (x) the Borrower shall not submit any Class A Borrowing Request unless accompanied by a Class B Borrowing Request such that the aggregate amount of borrowing requested is proportionally split based on the Unrated Class A Advance Rate and the Unrated Class B Advance Rate and (y) each requested borrowing of Loans Borrowing shall comply with the requirements set forth in Section 2.02. If no election as to the Type of Borrowing is specified in any such notice, then the requested Borrowing shall be an ABR Borrowing. If no Interest Period with respect to any Eurodollar Borrowing is specified in any such notice, then the Borrower shall be deemed to have selected an Interest Period of one month's duration. The Administrative Agent shall promptly (and in any event on the same day that the Administrative Agent receives such notice, if received by 1:00 p.m., New York City time, on such day) advise the applicable Lenders of any notice given pursuant to this Section 2.03 (and the contents thereof), and of each Lender’s 's portion of the requested LoansBorrowing. If the Borrower shall not have delivered a Borrowing Request in accordance with this Section 2.03 prior to the end of the Interest Period then in effect for any Revolving Credit Borrowing requesting that such Borrowing be refinanced, then the Borrower shall (unless the Borrower has notified the Administrative Agent, not less than three Business Days prior to the end of such Interest Period, that such Borrowing is to be repaid at the end of such Interest Period) be deemed to have delivered a Borrowing Request requesting that such Borrowing be refinanced with a new Borrowing of equivalent amount, and such new Borrowing shall be an ABR Borrowing.

Appears in 1 contract

Samples: Credit Agreement (Volume Services America Holdings Inc)

Borrowing Procedure. (a) In order to request a LoanBorrowing (other than a deemed Borrowing pursuant to Section 2.02(f) or a Borrowing of Swing Line Loans under Section 2.23 as to which this Section 2.03 shall not apply), the Administrative Borrower shall deliver by hand or by facsimile or other electronic means to notify the Administrative Agent of such request (a) in the case of a duly completed Borrowing RequestTerm SOFR Borrowing, together with not later than 1:00 p.m, New York City time, three (3) Business Days before a proposed Borrowing, and (b) in the related Addition Noticecase of an ABR Borrowing, Borrowing Base Certificate and data tape or other electronic file containing information regarding the Related Receivables to be transferred on such Funding Date not later than 1:00 p.m., New York City time, one on the Business Day before prior to the requested date of a proposed Funding Date. Such Borrowing Base Certificate shall provide the current calculation of the Class A Borrowing Base and Class B Borrowing Base (i) if such Funding Date is a Settlement Date, as of the end of business on the related Determination Date, or (ii) if such Funding Date is not a Settlement Date, as of the end of business on the Determination Date for the most recent Settlement Date (or as of the end of business on such date as agreed by the Administrative Agent). The Borrower shall submit no more than five (5) Borrowing Requests (and accompanying Addition Notices and Borrowing Base Certificates) per week, unless otherwise agreed by the Administrative AgentBorrowing. Each such Borrowing Request shall be irrevocable, shall be signed in the form of a written Borrowing Request delivered by hand or on behalf of fax to the Borrower Administrative Agent and shall specify the following information: (i) whether the Funding Date Borrowing then being requested is to be a Revolving Credit Borrowing, a 2023 Incremental Term Loan Borrowing, a Refinancing Revolving Loan Borrowing, a Refinancing Term Loan Borrowing or an Incremental Borrowing, and whether such Borrowing is to be a Term SOFR Borrowing or an ABR Borrowing; (ii) the date of such Loans Borrowing (which shall be a Business Day); (iiiii) the number and location of the account to which funds are to be disbursed disbursed; (which shall be an account that complies with iv) the requirements amount of Section 2.02(c))such Borrowing; and (iiiv) the aggregate amount if such Borrowing is to be borrowed and a Term SOFR Borrowing, the allocation of Class A Loans and Class B Loans requestedInterest Period with respect thereto; provided, however, that, notwithstanding any contrary specification in any Borrowing Request, (x) the Borrower shall not submit any Class A Borrowing Request unless accompanied by a Class B Borrowing Request such that the aggregate amount of borrowing requested is proportionally split based on the Unrated Class A Advance Rate and the Unrated Class B Advance Rate and (y) each requested borrowing of Loans Borrowing shall comply with the requirements set forth in Section 2.02. If no election as to the Type of Borrowing is specified in any such notice, then the requested Borrowing shall be an ABR Borrowing. If no Interest Period with respect to any Term SOFR Borrowing is specified in any such notice, then the Administrative Borrower shall be deemed to have selected an Interest Period of one month’s duration. The Administrative Agent shall promptly advise the applicable Lenders of any notice given pursuant to this Section 2.03 (and the contents thereof), and of each Lender’s portion of the requested LoansBorrowing.

Appears in 1 contract

Samples: Credit Agreement (Enviva Inc.)

Borrowing Procedure. (a) In order to request a LoanBorrowing, the a Borrower shall hand deliver by hand or by facsimile or other electronic means telecopy to the Administrative Agent a duly completed Borrowing RequestRequest in the form of Exhibit A (i) in the case of a Eurodollar Borrowing, together with the related Addition Notice, Borrowing Base Certificate and data tape or other electronic file containing information regarding the Related Receivables to be transferred on such Funding Date not later than 1:00 p.m.11:00 a.m., New York City time, three Business Days before such Borrowing, and (ii) in the case of an ABR Borrowing, not later than 11:00 a.m., New York City time, one Business Day before the proposed Funding Datesuch Borrowing. Such Borrowing Base Certificate shall provide the current calculation of the Class A Borrowing Base and Class B Borrowing Base (i) if such Funding Date is a Settlement Date, as of the end of business on the related Determination Date, or (ii) if such Funding Date is not a Settlement Date, as of the end of business on the Determination Date for the most recent Settlement Date (or as of the end of business on such date as agreed by the Administrative Agent). The Borrower shall submit no more than five (5) Borrowing Requests (and accompanying Addition Notices and Borrowing Base Certificates) per week, unless otherwise agreed by the Administrative Agent. Each Borrowing Request notice shall be irrevocable, shall be signed by or on behalf of the Borrower irrevocable and shall in each case specify (A) whether the following information: Borrowing then being requested is to be a Eurodollar Borrowing or an ABR Borrowing, (iB) the Funding Date date of such Loans Borrowing (which shall be a Business Day); ) and the amount thereof, and (iiC) the number and location of the account to which funds are if such Borrowing is to be disbursed (a Eurodollar Borrowing, the Interest Period with respect thereto, which shall not end after the Maturity Date. If no election as to the Type of Borrowing is specified in any such notice, then the requested Borrowing shall be an account that complies ABR Borrowing. If no Interest Period with the requirements of Section 2.02(c)); and (iii) the aggregate amount respect to be borrowed and the allocation of Class A Loans and Class B Loans requested; provided, however, that, notwithstanding any contrary specification Eurodollar Borrowing is specified in any Borrowing Requestsuch notice, (x) then the Borrower shall not submit any Class A Borrowing Request unless accompanied by a Class B Borrowing Request such that be deemed to have selected an Interest Period of one month's duration (subject to the aggregate amount of borrowing requested is proportionally split based on the Unrated Class A Advance Rate and the Unrated Class B Advance Rate and (y) each requested borrowing of Loans shall comply with the requirements limitations set forth in the definition of "Interest Period"). If a Borrower shall not have given notice in accordance with this Section 2.022.03 of its election to refinance a Borrowing prior to the end of the Interest Period in effect for such Borrowing, then such Borrower shall (unless such Borrowing is repaid at the end of such Interest Period) be deemed to have given notice of an election to refinance such Borrowing with an ABR Borrowing. Notwithstanding any other provision of this Agreement to the contrary, no Borrowing shall be requested if the Interest Period with respect thereto would end after the Maturity Date. The Administrative Agent shall promptly advise the Lenders of any notice given pursuant to this Section 2.03 (and the contents thereof), and of each Lender’s 's portion of the requested LoansBorrowing.

Appears in 1 contract

Samples: Credit Agreement (Txu Corp /Tx/)

Borrowing Procedure. (a) In order to request a LoanBorrowing, the Borrower shall hand deliver or telecopy (or telephonic notice promptly confirmed by hand or by facsimile or other electronic means telecopy) to the Administrative Agent a duly completed Borrowing RequestNotice in the form of Exhibit A (a) in the case of a Eurodollar Borrowing, together with the related Addition Notice, Borrowing Base Certificate and data tape or other electronic file containing information regarding the Related Receivables to be transferred on such Funding Date not later than 1:00 p.m.11:00 a.m., New York City time, three Business Days before such Borrowing, and (b) in the case of an ABR Borrowing, not later than 11:00 a.m., New York City time, one Business Day before the proposed Funding Datesuch Borrowing. Such Borrowing Base Certificate notice shall provide the current calculation of the Class A Borrowing Base be irrevocable and Class B Borrowing Base shall in each case specify (i) if such Funding Date whether the Borrowing then being requested is to be a Settlement Date, as of the end of business on the related Determination Date, Eurodollar Borrowing or an ABR Borrowing; (ii) if such Funding Date is not a Settlement Date, as of the end of business on the Determination Date for the most recent Settlement Date (or as of the end of business on such date as agreed by the Administrative Agent). The Borrower shall submit no more than five (5) Borrowing Requests (and accompanying Addition Notices and Borrowing Base Certificates) per week, unless otherwise agreed by the Administrative Agent. Each Borrowing Request shall be irrevocable, shall be signed by or on behalf of the Borrower and shall specify the following information: (i) the Funding Date of such Loans Borrowing (which shall be a Business Day)) and the amount thereof; (iiiii) the number and location of the account to which funds are if such Borrowing is to be disbursed a Eurodollar Borrowing, the Interest Period with respect thereto, which shall not end after the Termination Date; and (which iv) remittance instructions for such Borrowing. If no election as to the Type of Borrowing is specified in any such notice, then the requested Borrowing shall be an account that complies ABR Borrowing. If no Interest Period with the requirements of Section 2.02(c)); and (iii) the aggregate amount respect to be borrowed and the allocation of Class A Loans and Class B Loans requested; provided, however, that, notwithstanding any contrary specification Eurodollar Borrowing is specified in any Borrowing Requestsuch notice, then the Borrower shall be deemed to have selected an Interest Period of one month's duration (x) subject to the limitations set forth in the definition of "Interest Period"). If the Borrower shall not submit have given notice in accordance with this Section 2.03 of its election to refinance a Borrowing prior to the end of the Interest Period in effect for such Borrowing, then the Borrower shall (unless such Borrowing is repaid at the end of such Interest Period) be deemed to have given notice of an election to refinance such Borrowing with an ABR Borrowing. Notwithstanding any Class A other provision of this Agreement to the contrary, no Borrowing Request unless accompanied by a Class B Borrowing Request such that shall be requested if the aggregate amount of borrowing requested is proportionally split based on Interest Period with respect thereto would end after the Unrated Class A Advance Rate and the Unrated Class B Advance Rate and (y) each requested borrowing of Loans shall comply with the requirements set forth in Section 2.02Termination Date. The Administrative Agent shall promptly advise the Lenders of any notice given pursuant to this Section 2.03 (and the contents thereof), and of each Lender’s 's portion of the requested LoansBorrowing.

Appears in 1 contract

Samples: Credit Agreement (Oncor Electric Delivery Co)

Borrowing Procedure. (a) In order to request effect a LoanBorrowing, the Borrower shall hand deliver by hand or by facsimile or other electronic means telecopy to the Administrative Agent a duly completed Borrowing RequestRequest in the form of Exhibit E (a) in the case of a LIBOR Borrowing, together with the related Addition Notice, Borrowing Base Certificate and data tape or other electronic file containing information regarding the Related Receivables to be transferred on such Funding Date not later than 1:00 p.m.12:00 (noon), New York City time, one three Business Day Days before a proposed Borrowing, and (b) in the case of an ABR Borrowing, not later than 12:00 (noon), New York City time, on the day of a proposed Funding DateBorrowing. Such Borrowing Base Certificate shall provide the current calculation of the Class A Borrowing Base and Class B Borrowing Base (i) if such Funding Date is a Settlement Date, as of the end of business on the related Determination Date, or (ii) if such Funding Date is not a Settlement Date, as of the end of business on the Determination Date for the most recent Settlement Date (or as of the end of business on such date as agreed by the Administrative Agent). The Borrower shall submit no more than five (5) Borrowing Requests (and accompanying Addition Notices and Borrowing Base Certificates) per week, unless otherwise agreed by the Administrative Agent. Each Borrowing Request shall be irrevocable, shall be signed by or on behalf of the Borrower irrevocable and shall in each case specify (a) whether the following information: Borrowing then being requested is to be a LIBOR Borrowing or an ABR Borrowing, (ib) the Funding Date date of such Loans Borrowing (which shall be a Business Day); ) and the amount thereof and (iic) the number and location of the account to which funds are if such Borrowing is to be disbursed (which a LIBOR Borrowing, the Interest Period with respect thereto. If no election as to the Interest Rate Type of a Borrowing is specified in any such Borrowing Request, then the requested Borrowing shall be an account that complies ABR Borrowing. If no Interest Period with the requirements of Section 2.02(c)); and (iii) the aggregate amount respect to be borrowed and the allocation of Class A Loans and Class B Loans requested; provided, however, that, notwithstanding any contrary specification LIBOR Borrowing is specified in any such Borrowing Request, (x) then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. If the Borrower shall not submit any Class A have given a Borrowing Request in accordance with this Section 2.6 of its election to refinance a Borrowing prior to the end of the Interest Period in effect for such Borrowing, then the Borrower shall (unless accompanied by a Class B such Borrowing Request is repaid at the end of such that the aggregate amount Interest Period) be deemed to have given notice of borrowing requested is proportionally split based on the Unrated Class A Advance Rate and the Unrated Class B Advance Rate and (y) each requested borrowing of Loans shall comply an election to refinance such Borrowing with the requirements set forth in Section 2.02an ABR Borrowing. The Administrative Agent shall promptly advise the Lenders of any notice given pursuant to this Section 2.03 (and the contents thereof), 2.6 and of each Lender’s portion of the requested LoansBorrowing.

Appears in 1 contract

Samples: Term Loan Agreement (Cendant Corp)

Borrowing Procedure. (a) In order to request a Loan, the Borrower shall deliver give Administrative Agent notice of each Borrowing by means of a Borrowing Request Form containing the information required therein and delivered (by hand or by facsimile or other electronic means email) to the Administrative Agent a duly completed no later than 5:00 p.m. (New York, NY time) on the day prior to which the Borrowing Request, together with the related Addition Notice, Borrowing Base Certificate and data tape or other electronic file containing information regarding the Related Receivables is desired to be transferred on such Funding Date not later than 1:00 p.m., New York City time, one Business Day before the proposed Funding Date. Such Borrowing Base Certificate shall provide the current calculation of the Class A Borrowing Base and Class B Borrowing Base (i) if such Funding Date is a Settlement Date, as of the end of business on the related Determination Date, or (ii) if such Funding Date is not a Settlement Date, as of the end of business on the Determination Date for the most recent Settlement Date (or as of the end of business on such date as agreed by the Administrative Agent). The Borrower shall submit no more than five (5) Borrowing Requests (and accompanying Addition Notices and Borrowing Base Certificates) per week, unless otherwise agreed by the Administrative Agentfunded. Each Borrowing Request shall be irrevocablein an amount no less than $[***] up to the Maximum Facility Amount less outstanding Borrowings. Administrative Agent at its option may accept telephonic requests for such Borrowings, provided that such acceptance shall not constitute a waiver of Administrative Agent’s right to require delivery of a Borrowing Request Form in connection with subsequent Borrowings. Any telephonic request for a Borrowing by Borrower shall be signed promptly confirmed by submission of a properly completed Borrowing Request Form to Administrative Agents, but failure to deliver a Borrowing Request Form shall not be a defense to payment of the Borrowing. No Lender shall have liability to Borrower for any loss or damage suffered by Xxxxxxxx as a result of Xxxxxxx’ honoring of any requests, execution of any instructions, authorizations or agreements or reliance on any reports communicated to it telephonically, by facsimile or electronically and purporting to have been sent to Administrative Agent by Xxxxxxxx and Lenders shall have no duty to verify the origin of any such communication or the identity or authority of the Person sending it. Subject to the terms and conditions of this Agreement, each Borrowing shall be made available to Borrower by depositing the same, in immediately available funds, in an account of Borrower designated by Xxxxxxxx maintained with Administrative Agent at the Principal Office. If, after giving effect to a requested Borrowing, there is a Borrowing Base Deficiency, or if Administrative Agent determines (either then or on behalf any later day in the course of reviewing the Borrower and shall specify same) that the following information: (i) the Funding Date of such Loans (which shall be a Business Day); (ii) the number and location of the account Borrowing Request Form submitted to which funds are to be disbursed (which shall be an account that complies with the requirements of Section 2.02(c)); and (iii) the aggregate amount to be borrowed and the allocation of Class A Loans and Class B Loans requested; provided, however, that, notwithstanding any contrary specification it is incomplete or incorrect in any material respect, then Lenders shall withhold the entire Borrowing Request, (x) the until Borrower shall not submit any Class A have demonstrated to Administrative Agent’s reasonable satisfaction that such Borrowing Request unless accompanied by a Class B Borrowing Request such that the aggregate amount of borrowing requested Form is proportionally split based on the Unrated Class A Advance Rate and the Unrated Class B Advance Rate and in fact not (yor is no longer) each requested borrowing of Loans shall comply with the requirements set forth incomplete or incorrect in Section 2.02. The Administrative Agent shall promptly advise the Lenders of any notice given pursuant to this Section 2.03 (and the contents thereof), and of each Lender’s portion of the requested Loansmaterial respect.

Appears in 1 contract

Samples: Credit and Security Agreement (loanDepot, Inc.)

Borrowing Procedure. (a) In order to request a LoanBorrowing, the Borrower shall hand deliver by hand or by facsimile or other electronic means telecopy to the Administrative Agent a duly completed Borrowing Request: (a) in the case of a Fixed Rate Borrowing, together with the related Addition Notice, Borrowing Base Certificate and data tape or other electronic file containing information regarding the Related Receivables to be transferred on such Funding Date not later than 1:00 p.m.11:00 a.m., New York, New York City time, one three Business Day Days before such Borrowing, (b) in the proposed Funding Datecase of a Euro Borrowing or an Australian Dollar Borrowing, not later than 9:00 a.m., New York, New York time, three Business Days before such Borrowing, and (c) in the case of an ABR Borrowing, not later than 11:00 a.m., New York, New York time, on the day of such Borrowing. Such Borrowing Base Certificate shall provide the current calculation of the Class A Borrowing Base and Class B Borrowing Base (i) if such Funding Date is a Settlement Date, as of the end of business on the related Determination Date, or (ii) if such Funding Date is not a Settlement Date, as of the end of business on the Determination Date for the most recent Settlement Date (or as of the end of business on such date as agreed by the Administrative Agent). The Borrower shall submit no more than five (5) Borrowing Requests (and accompanying Addition Notices and Borrowing Base Certificates) per week, unless otherwise agreed by the Administrative Agent. Each Borrowing Request notice shall be irrevocable, shall be signed by or on behalf of the Borrower irrevocable and shall specify the following informationin each case specify: (i) whether the Funding Date Borrowing then being requested is to be a Fixed Rate Borrowing or an ABR Borrowing; (ii) whether the Borrowing is a Revolving Borrowing or a Swingline Borrowing and if a Swingline Borrowing, the applicable Available Currency in which the Borrower requests such Borrowing to be denominated; (iii) the date of such Loans Borrowing (which shall be a Business Day); (ii) and the number and location of the account to which funds are to be disbursed (which shall be an account that complies with the requirements of Section 2.02(c))amount thereof; and (iiiiv) the aggregate amount if such Borrowing is to be borrowed and a Fixed Rate Borrowing, the allocation of Class A Loans and Class B Loans requestedInterest Period with respect thereto, which shall not end after the Maturity Date; provided, however, that, notwithstanding any contrary specification in any Borrowing Request, provided that (xA) the Borrower may not request a Fixed Rate Dollar Swingline Borrowing, an ABR Australian Dollar Swingline Borrowing nor an ABR Euro Swingline Borrowing and (B) each such Borrowing of the type described in clause (A) preceding shall not submit be available herein. If no election as to the Type, currency or facility applicable to such Borrowing is specified in any Class A such notice, then the requested Borrowing Request unless accompanied by will be a Class B ABR Dollar Swingline Borrowing. If no Interest Period with respect to any Fixed Rate Borrowing Request is specified in any such that notice, then the aggregate amount Borrower shall be deemed to have selected an Interest Period of borrowing one month's duration. Notwithstanding any other provision of this Agreement to the contrary, no Borrowing shall be requested if the Interest Period with respect thereto would end after the Maturity Date. When a Revolving Borrowing is proportionally split based on requested, the Unrated Class A Advance Rate and the Unrated Class B Advance Rate and (y) each requested borrowing of Loans shall comply with the requirements set forth in Section 2.02. The Administrative Agent shall promptly advise the Revolving Lenders of any the notice given pursuant to this Section 2.03 (and the contents thereof), and of each Revolving Lender’s 's portion of the requested LoansBorrowing. When a Swingline Borrowing is requested, the Administrative Agent shall promptly advise the Swingline Lender of the notice given pursuant to this Section 2.03.

Appears in 1 contract

Samples: Intercreditor Agreement (Lennox International Inc)

AutoNDA by SimpleDocs

Borrowing Procedure. Whenever Borrower desires a Revolving Advance, Borrower will notify Bank no later than 3:00 p.m. Pacific time, one (a1) In order Business Day prior to request the Business Day that the Revolving Advance is to be made. Each such notification shall be made (i) by telephone or in-person followed by written confirmation from Borrower within twenty four (24) hours, (ii) by electronic mail or facsimile transmission, or (iii) by delivering to Bank a LoanLoan Payment/Advance Request Form in substantially the form of Exhibit B-3 attached hereto. Notwithstanding the foregoing, in addition to any other requirements for borrowing a Revolving Advance, the Borrower shall must deliver by hand or by facsimile or other electronic means to the Administrative Agent Bank a duly completed Borrowing RequestRevolving Loan Request in substantially the form of Exhibit B-2 attached hereto and a Loan Payment/Advance Request Form in substantially the form of Exhibit B-3 attached hereto, together with the related Addition Notice, Borrowing Base Certificate and data tape or other electronic file containing information regarding the Related Receivables to be transferred on such Funding Date not later than 1:00 p.m., New York City time, one Business Day before the proposed Funding Date. Such Borrowing Base Certificate shall provide the current calculation of the Class A Borrowing Base and Class B Borrowing Base (i) if such Funding Date is a Settlement Date, each dated as of the end of business on the related Determination Date, or (ii) if such Funding Date is not a Settlement Date, as of the end of business on the Determination Date for the most recent Settlement Date (or as of the end of business on such date as agreed by the Administrative Agent). The Borrower shall submit no more than five (5) Borrowing Requests (and accompanying Addition Notices and Borrowing Base Certificates) per week, unless otherwise agreed by the Administrative Agent. Each Borrowing Request shall be irrevocable, shall be signed by or on behalf of the Borrower and shall specify the following information: (i) the Funding Date of such Loans (Revolving Advance. Each such Revolving Loan Request will be effective upon receipt by the Bank, will be irrevocable, and must specify the date and amount of borrowing. Bank is authorized to make Revolving Advances under this Agreement, based upon instructions received from a Responsible Officer or a designee of a [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. Responsible Officer, or without instructions if in Bank’s discretion such Revolving Advances are necessary to meet Obligations which have become due and remain unpaid. Bank shall be a Business Day); (ii) the number and location of the account entitled to which funds are to be disbursed (which shall be an account that complies with the requirements of Section 2.02(c)); and (iii) the aggregate amount to be borrowed and the allocation of Class A Loans and Class B Loans requested; provided, however, that, notwithstanding any contrary specification in any Borrowing Request, (x) the Borrower shall not submit any Class A Borrowing Request unless accompanied by a Class B Borrowing Request such that the aggregate amount of borrowing requested is proportionally split based rely on the Unrated Class A Advance Rate and the Unrated Class B Advance Rate and (y) each requested borrowing of Loans shall comply with the requirements set forth in Section 2.02. The Administrative Agent shall promptly advise the Lenders of any notice given pursuant by a person who Bank reasonably believes to be a Responsible Officer or a designee thereof, and Borrower shall indemnify and hold Bank harmless for any damages or loss suffered by Bank as a result of such reliance. Bank will credit the amount of Revolving Advances made under this Section 2.03 (and 2.3(b) to Borrower’s deposit account maintained with the contents thereof), and of each LenderBank at Borrower’s portion of the requested Loansdirection.

Appears in 1 contract

Samples: Loan and Security Agreement (Codexis Inc)

Borrowing Procedure. (a) In order to request effect a LoanBorrowing, the Borrower shall deliver by hand or by facsimile or other electronic means to the Administrative Agent a duly Borrowing Request or such other form as may be approved by the Administrative Agent (including any form on an electronic platform or electronic transmission system as shall be approved by the Administrative Agent), appropriately completed Borrowing Requestand signed by a Responsible Officer of the Borrower (a) in the case of a LIBOR Borrowing, together with the related Addition Notice, Borrowing Base Certificate and data tape or other electronic file containing information regarding the Related Receivables to be transferred on such Funding Date not later than 1:00 p.m.12:00 Noon, New York City time, one three Business Day Days before a proposed Borrowing, and (b) in the case of an ABR Borrowing, not later than 11:00 A.M., New York City time, on the day of a proposed Funding DateBorrowing. Such Borrowing Base Certificate shall provide the current calculation of the Class A Borrowing Base and Class B Borrowing Base (i) if such Funding Date is a Settlement Date, as of the end of business on the related Determination Date, or (ii) if such Funding Date is not a Settlement Date, as of the end of business on the Determination Date for the most recent Settlement Date (or as of the end of business on such date as agreed by the Administrative Agent). The Borrower shall submit no more than five (5) Borrowing Requests (and accompanying Addition Notices and Borrowing Base Certificates) per week, unless otherwise agreed by the Administrative Agent. Each Borrowing Request shall be irrevocable, shall be signed by or on behalf of the Borrower irrevocable and shall in each case specify (a) whether the following information: Borrowing then being requested is to be a LIBOR Borrowing or an ABR Borrowing, (ib) the Funding Date date of such Loans Borrowing (which shall be a Business Day); ) and the amount thereof and (iic) the number and location of the account to which funds are if such Borrowing is to be disbursed (which a LIBOR Borrowing, the Interest Period with respect thereto. If no election as to the Interest Rate Type of a Borrowing is specified in any such Borrowing Request, then the requested Borrowing shall be an account that complies ABR Borrowing. If no Interest Period with the requirements of Section 2.02(c)); and (iii) the aggregate amount respect to be borrowed and the allocation of Class A Loans and Class B Loans requested; provided, however, that, notwithstanding any contrary specification LIBOR Borrowing is specified in any such Borrowing Request, (x) then the Borrower shall not submit any Class A Borrowing Request unless accompanied by a Class B Borrowing Request such that the aggregate amount be deemed to have selected an Interest Period of borrowing requested is proportionally split based on the Unrated Class A Advance Rate and the Unrated Class B Advance Rate and (y) each requested borrowing of Loans shall comply with the requirements set forth in Section 2.02one month’s duration. The Administrative Agent shall promptly advise the applicable Lenders of any notice Borrowing Request given pursuant to this Section 2.03 (and the contents thereof), 2.3 and of each Lender’s portion of the requested LoansBorrowing.

Appears in 1 contract

Samples: Credit Agreement (Wyndham Worldwide Corp)

Borrowing Procedure. (a) In order to request effect a LoanBorrowing, the Borrower shall deliver by hand or by facsimile or other electronic means to the Administrative Agent a duly Borrowing notice in substantially the form of Exhibit D or such other form as may be approved by the Administrative Agent (including any form on an electronic platform or electronic transmission system as shall be approved by the Administrative Agent), appropriately completed Borrowing Requestand signed by a Responsible Officer of the Borrower (a) in the case of a LIBOR Borrowing, together with the related Addition Notice, Borrowing Base Certificate and data tape or other electronic file containing information regarding the Related Receivables to be transferred on such Funding Date not later than 1:00 p.m.12:00 Noon, New York City time, one three Business Day Days before a proposed Borrowing, and (b) in the case of an ABR Borrowing, not later than 2:00 P.M., New York City time, on the day of a proposed Funding DateBorrowing. Such Borrowing Base Certificate shall provide the current calculation of the Class A Borrowing Base and Class B Borrowing Base (i) if such Funding Date is a Settlement Date, as of the end of business on the related Determination Date, or (ii) if such Funding Date is not a Settlement Date, as of the end of business on the Determination Date for the most recent Settlement Date (or as of the end of business on such date as agreed by the Administrative Agent). The Borrower shall submit no more than five (5) Borrowing Requests (and accompanying Addition Notices and Borrowing Base Certificates) per week, unless otherwise agreed by the Administrative Agent. Each Borrowing Request notice shall be irrevocable, shall be signed by or on behalf of the Borrower irrevocable and shall in each case specify (a) whether the following information: Borrowing then being requested is to be a LIBOR Borrowing or an ABR Borrowing, (ib) the Funding Date date of such Loans Borrowing (which shall be a Business Day); ) and the amount thereof and (iic) the number and location of the account to which funds are if such Borrowing is to be disbursed (which a LIBOR Borrowing, the Interest Period with respect thereto. If no election as to the Interest Rate Type of a Borrowing is specified in any such notice, then the requested Borrowing shall be an account that complies ABR Borrowing. If no Interest Period with the requirements of Section 2.02(c)); and (iii) the aggregate amount respect to be borrowed and the allocation of Class A Loans and Class B Loans requested; provided, however, that, notwithstanding any contrary specification LIBOR Borrowing is specified in any Borrowing Requestsuch notice, (x) then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. If the Borrower shall not submit any Class A have given notice in accordance with this Section 2.3 of its election to refinance a Borrowing Request prior to the end of the Interest Period in effect for such Borrowing, then the Borrower shall (unless accompanied by such Borrowing is repaid at the end of such Interest Period) be deemed to have given notice of an election to refinance such Borrowing, subject to Section 2.8, with a Class B LIBOR Borrowing Request such that the aggregate amount of borrowing requested is proportionally split based on the Unrated Class A Advance Rate and the Unrated Class B Advance Rate and (y) each requested borrowing of Loans shall comply with the requirements set forth in Section 2.02one month’s duration. The Administrative Agent shall promptly advise the Lenders of any notice given pursuant to this Section 2.03 (and the contents thereof), 2.3 and of each Lender’s portion of the requested LoansBorrowing.

Appears in 1 contract

Samples: Credit Agreement (Wyndham Worldwide Corp)

Borrowing Procedure. (a) In order to request a LoanBorrowing (other than a Swingline Loan or a Mandatory Borrowing), the Borrower shall hand deliver by hand or by send via facsimile or other electronic means to the Administrative Agent a duly completed Borrowing RequestRequest (i) in the case of a Eurodollar Borrowing, together with the related Addition Notice, Borrowing Base Certificate and data tape or other electronic file containing information regarding the Related Receivables to be transferred on such Funding Date not later than 1:00 p.m.11:00 a.m., New York City time, three Business Days before such Borrowing, and (ii) in the case of an ABR Borrowing, not later than 11:00 a.m., New York City time, one Business Day before the proposed Funding Datesuch Borrowing. Such Borrowing Base Certificate shall provide the current calculation of the Class A Borrowing Base and Class B Borrowing Base (i) if such Funding Date is a Settlement Date, as of the end of business on the related Determination Date, or (ii) if such Funding Date is not a Settlement Date, as of the end of business on the Determination Date for the most recent Settlement Date (or as of the end of business on such date as agreed by the Administrative Agent). The Borrower shall submit no more than five (5) Borrowing Requests (and accompanying Addition Notices and Borrowing Base Certificates) per week, unless otherwise agreed by the Administrative Agent. Each Borrowing Request notice shall be irrevocable, shall be signed by or on behalf of the Borrower irrevocable and shall in each case specify (A) whether the following information: Borrowing then being requested is to be a Eurodollar Borrowing or an ABR Borrowing, (iB) the Funding Date date of such Loans Borrowing (which shall be a Business Day); ) and the amount thereof, (iiC) if such Borrowing is to be a Eurodollar Borrowing, the Interest Period with respect thereto, which shall not end after the Commitment Termination Date and (D) the location and number and location of the Borrower’s account to which funds are to be disbursed (disbursed, which shall be an account that complies with the requirements of Section 2.02(c)); and (iii) the aggregate amount to be borrowed and the allocation of Class A Loans and Class B Loans requested; provided, however, that, notwithstanding any contrary specification in any Borrowing Request, (x) the Borrower shall not submit any Class A Borrowing Request unless accompanied by a Class B Borrowing Request such that the aggregate amount of borrowing requested is proportionally split based on the Unrated Class A Advance Rate and the Unrated Class B Advance Rate and (y) each requested borrowing of Loans shall comply with the requirements of this Agreement. If no election as to the Type of Borrowing is specified in any such notice, then the requested Borrowing shall be deemed an ABR Borrowing. If no Interest Period with respect to any Eurodollar Borrowing is specified in any such notice, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration (subject to the limitations set forth in the definition of “Interest Period”). If the Borrower shall not have given notice in accordance with this Section 2.02of its election to refinance a Borrowing prior to the end of the Interest Period in effect for such Borrowing, then the Borrower shall (unless such Borrowing is repaid at the end of such Interest Period) be deemed to have given notice of an election to refinance such Borrowing with an ABR Borrowing. Notwithstanding any other provision of this Agreement to the contrary, no Borrowing shall be requested if the Interest Period with respect thereto would end after the Commitment Termination Date. The Administrative Agent shall promptly advise the Lenders of any notice given pursuant to this Section 2.03 (and the contents thereof), and of each Lender’s portion of the requested LoansBorrowing.

Appears in 1 contract

Samples: Revolving Credit Agreement (Oncor Electric Delivery Co LLC)

Borrowing Procedure. (a) In order to request effect a LoanBorrowing, the Borrower shall hand deliver by hand or by facsimile or other electronic means telecopy to the Administrative Agent a duly completed Borrowing RequestRequest in the form of Exhibit F (a) in the case of a LIBOR Borrowing, together with the related Addition Notice, Borrowing Base Certificate and data tape or other electronic file containing information regarding the Related Receivables to be transferred on such Funding Date not later than 1:00 p.m.12:00 (noon), New York City time, one three Business Day Days before a proposed Borrowing, and (b) in the case of an ABR Borrowing, not later than 12:00 (noon), New York City time, on the day of a proposed Funding DateBorrowing. Such Borrowing Base Certificate shall provide the current calculation of the Class A Borrowing Base and Class B Borrowing Base (i) if such Funding Date is a Settlement Date, as of the end of business on the related Determination Date, or (ii) if such Funding Date is not a Settlement Date, as of the end of business on the Determination Date for the most recent Settlement Date (or as of the end of business on such date as agreed by the Administrative Agent). The Borrower shall submit no more than five (5) Borrowing Requests (and accompanying Addition Notices and Borrowing Base Certificates) per week, unless otherwise agreed by the Administrative Agent. Each Borrowing Request shall be irrevocable, shall be signed by or on behalf of the Borrower irrevocable and shall in each case specify (a) whether the following information: Borrowing then being requested is to be a LIBOR Borrowing or an ABR Borrowing, (ib) the Funding Date date of such Loans Borrowing (which shall be a Business Day); ) and the amount thereof and (iic) the number and location of the account to which funds are if such Borrowing is to be disbursed (which a LIBOR Borrowing, the Interest Period with respect thereto. If no election as to the Interest Rate Type of a Borrowing is specified in any such Borrowing Request, then the requested Borrowing shall be an account that complies ABR Borrowing. If no Interest Period with the requirements of Section 2.02(c)); and (iii) the aggregate amount respect to be borrowed and the allocation of Class A Loans and Class B Loans requested; provided, however, that, notwithstanding any contrary specification LIBOR Borrowing is specified in any such Borrowing Request, (x) then the Borrower shall be deemed to have selected an Interest Period of one month's duration. If the Borrower shall not submit any Class A have given a Borrowing Request in accordance with this Section 2.5 of its election to refinance a Borrowing prior to the end of the Interest Period in effect for such Borrowing, then the Borrower shall (unless accompanied by a Class B such Borrowing Request is repaid at the end of such that the aggregate amount Interest Period) be deemed to have given notice of borrowing requested is proportionally split based on the Unrated Class A Advance Rate and the Unrated Class B Advance Rate and (y) each requested borrowing of Loans shall comply an election to refinance such Borrowing with the requirements set forth in Section 2.02an ABR Borrowing. The Administrative Agent shall promptly advise the Lenders of any notice given pursuant to this Section 2.03 (and the contents thereof), 2.5 and of each Lender’s 's portion of the requested LoansBorrowing.

Appears in 1 contract

Samples: Term Loan Agreement (Cendant Corp)

Borrowing Procedure. (a) In order to request effect a LoanBorrowing, the Borrower shall hand deliver or telecopy (or transmit by hand or electronic communications pursuant to procedures approved by facsimile or other electronic means the Administrative Agent) to the Administrative Agent a duly completed Borrowing RequestRequest (a) in the case of a LIBOR Borrowing, together with the related Addition Notice, Borrowing Base Certificate and data tape or other electronic file containing information regarding the Related Receivables to be transferred on such Funding Date not later than 1:00 p.m.11:00 a.m., New York City time, one Business Day three Working Days before a proposed Borrowing and (b) in the case of an ABR Borrowing, not later than 11:00 a.m., New York City time, on the day of a proposed Funding DateBorrowing. Such Borrowing Base Certificate shall provide the current calculation of the Class A Borrowing Base and Class B Borrowing Base (i) if such Funding Date is a Settlement Date, as of the end of business on the related Determination Date, or (ii) if such Funding Date is not a Settlement Date, as of the end of business on the Determination Date for the most recent Settlement Date (or as of the end of business on such date as agreed by the Administrative Agent). The Borrower shall submit no more than five (5) Borrowing Requests (and accompanying Addition Notices and Borrowing Base Certificates) per week, unless otherwise agreed by the Administrative Agent. Each Borrowing Request notice shall be irrevocable, shall be signed by or on behalf of the Borrower irrevocable and shall in each case specify (A) whether the following information: Borrowing is under the Tranche A Facility or the Tranche B Facility, (iB) whether the Borrowing then being requested is to be a LIBOR Borrowing or an ABR Borrowing, (C) the Funding Date date of such Loans Borrowing (which shall be a Business Working Day); ) and the amount thereof and (iiD) the number and location of the account to which funds are if such Borrowing is to be disbursed (which a LIBOR Borrowing, the Interest Period with respect thereto. No Borrowing may be made under the Tranche B Facility if there is unused available Borrowing capacity under the Tranche A Facility. If no election as to the Interest Rate Type of a Borrowing is specified in any such Borrowing Request, then the requested Borrowing shall be an account that complies ABR Borrowing. If no Interest Period with the requirements of Section 2.02(c)); and (iii) the aggregate amount respect to be borrowed and the allocation of Class A Loans and Class B Loans requested; provided, however, that, notwithstanding any contrary specification LIBOR Borrowing is specified in any such Borrowing Request, (x) then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. If the Borrower shall not submit any Class A have given notice in accordance with this Section 2.5 of its election to refinance a Borrowing Request prior to the end of the Interest Period in effect for such Borrowing, then the Borrower shall (unless accompanied by a Class B such Borrowing Request is repaid at the end of such that the aggregate amount Interest Period) be deemed to have given notice of borrowing requested is proportionally split based on the Unrated Class A Advance Rate and the Unrated Class B Advance Rate and (y) each requested borrowing of Loans shall comply an election to refinance such Borrowing with the requirements set forth in Section 2.02an ABR Borrowing. The Administrative Agent shall promptly advise the applicable Lenders of any notice given pursuant to this Section 2.03 (and the contents thereof), 2.5 and of each such Lender’s portion of the requested LoansBorrowing.

Appears in 1 contract

Samples: Credit Agreement (PHH Corp)

Borrowing Procedure. (a) In order to request a LoanBorrowing, the a Borrower shall hand deliver by hand or by facsimile or other electronic means telecopy to the Administrative Agent a duly completed Borrowing RequestRequest in the form of Exhibit A (a) in the case of a Eurodollar Borrowing, together with the related Addition Notice, Borrowing Base Certificate and data tape or other electronic file containing information regarding the Related Receivables to be transferred on such Funding Date not later than 1:00 p.m.11:00 a.m., New York City time, three Business Days before such Borrowing, and (b) in the case of an ABR Borrowing, not later than 11:00 a.m., New York City time, one Business Day before the proposed Funding Datesuch Borrowing. Such Borrowing Base Certificate notice shall provide the current calculation of the Class A Borrowing Base be irrevocable and Class B Borrowing Base shall in each case specify (i) if such Funding Date whether the Borrowing then being requested is to be a Settlement Date, as of the end of business on the related Determination Date, Eurodollar Borrowing or an ABR Borrowing; (ii) if such Funding Date is not a Settlement Date, as of the end of business on the Determination Date for the most recent Settlement Date (or as of the end of business on such date as agreed by the Administrative Agent). The Borrower shall submit no more than five (5) Borrowing Requests (and accompanying Addition Notices and Borrowing Base Certificates) per week, unless otherwise agreed by the Administrative Agent. Each Borrowing Request shall be irrevocable, shall be signed by or on behalf of the Borrower and shall specify the following information: (i) the Funding Date of such Loans Borrowing (which shall be a Business Day); (ii) and the number and location of the account to which funds are to be disbursed (which shall be an account that complies with the requirements of Section 2.02(c))amount thereof; and (iii) the aggregate amount if such Borrowing is to be borrowed and a Eurodollar Borrowing, the allocation Interest Period with respect thereto, which shall not end after the Maturity Date. If no election as to the Type of Class A Loans and Class B Loans requested; provided, however, that, notwithstanding any contrary specification Borrowing is specified in any such notice, then the requested Borrowing Requestshall be an ABR Borrowing. If no Interest Period with respect to any Eurodollar Borrowing is specified in any such notice, (x) then the Borrower shall not submit any Class A Borrowing Request unless accompanied by a Class B Borrowing Request such that be deemed to have selected an Interest Period of one month's duration (subject to the aggregate amount of borrowing requested is proportionally split based on the Unrated Class A Advance Rate and the Unrated Class B Advance Rate and (y) each requested borrowing of Loans shall comply with the requirements limitations set forth in the definition of "Interest Period"). If a Borrower shall not have given notice in accordance with this Section 2.022.03 of its election to refinance a Borrowing prior to the end of the Interest Period in effect for such Borrowing, then such Borrower shall (unless such Borrowing is repaid at the end of such Interest Period) be deemed to have given notice of an election to refinance such Borrowing with an ABR Borrowing. Notwithstanding any other provision of this Agreement to the contrary, no Borrowing shall be requested if the Interest Period with respect thereto would end after the Maturity Date. The Administrative Agent shall promptly advise the Lenders of any notice given pursuant to this Section 2.03 (and the contents thereof), and of each Lender’s 's portion of the requested LoansBorrowing.

Appears in 1 contract

Samples: Credit Agreement (Txu Corp /Tx/)

Borrowing Procedure. (a) In order to To request a LoanBorrowing, the Borrower shall hand deliver by hand or by facsimile or other electronic means telecopy to the Administrative Agent a duly completed Borrowing Requestborrowing request in the form of Exhibit A hereto (a) in the case of a Eurodollar Borrowing, together with the related Addition Notice, Borrowing Base Certificate and data tape or other electronic file containing information regarding the Related Receivables to be transferred on such Funding Date not later than 1:00 p.m.12:00 noon, New York City time, one three Business Day Days before any such proposed Borrowing and (b) in the case of an ABR Borrowing, not later than 12:00 noon, New York City time (except that the Borrower shall use its best efforts to make such request by 11:00 a.m., New York City time), on the day of such proposed Funding DateBorrowing. Such Borrowing Base Certificate notice shall provide the current calculation of the Class A Borrowing Base be irrevocable and Class B Borrowing Base shall in each case specify (i) if whether such Funding Date Borrowing is to be of Revolving Loans or Term Loans, a Settlement DateEurodollar Borrowing or an ABR Borrowing, as of the end of business on the related Determination Date, or (ii) if such Funding Date is not a Settlement Date, as of the end of business on the Determination Date for the most recent Settlement Date (or as of the end of business on such date as agreed by the Administrative Agent). The Borrower shall submit no more than five (5) Borrowing Requests (and accompanying Addition Notices and Borrowing Base Certificates) per week, unless otherwise agreed by the Administrative Agent. Each Borrowing Request shall be irrevocable, shall be signed by or on behalf of the Borrower and shall specify the following information: (i) the Funding Date of such Loans Borrowing (which shall be a Business Day); (ii) and the number and location of the account to which funds are to be disbursed (which shall be an account that complies with the requirements of Section 2.02(c)); amount thereof and (iii) the aggregate amount if such Borrowing is to be borrowed and a Eurodollar Borrowing, the allocation Interest Period with respect thereto. If no election as to the Type of Class A Loans and Class B Loans requested; provided, however, that, notwithstanding any contrary specification Borrowing is specified in any such notice, then the requested Borrowing Requestshall be an ABR Borrowing. If no Interest Period with respect to any Eurodollar Borrowing is specified in any such notice, (x) then the Borrower shall be deemed to have selected an Interest Period of one month's duration. If the Borrower shall not submit any Class A have given notice in accordance with this Section 2.03 of its election to continue or convert a Borrowing Request prior to the end of the Interest Period in effect for such Borrowing, then the Borrower shall (unless accompanied by a Class B such Borrowing Request is repaid at the end of such that the aggregate amount Interest Period) be deemed to have given notice of borrowing requested is proportionally split based on the Unrated Class A Advance Rate and the Unrated Class B Advance Rate and (y) each requested borrowing of Loans shall comply an election to convert or continue such Borrowing with the requirements set forth in Section 2.02an ABR Borrowing. The Administrative Agent shall promptly advise the Lenders of any notice given pursuant to this Section 2.03 (and the contents thereof), and of each Lender’s 's portion of the requested LoansBorrowing.

Appears in 1 contract

Samples: Credit Agreement (Metris Companies Inc)

Borrowing Procedure. (a) In order Subject to request a Loanthe terms and conditions of this Agreement, each Lender severally agrees to make an initial advance of the Loan to the Borrower and the Borrower agrees to borrow in a single advance by September 30, 2000 at least 50% of the Commitment Amount on a pro rata basis determined by the Commitment of such Lender, with the remaining portion to be drawn in a single advance by December 31, 2000. Any portion of the Commitment Amount which remains undrawn after December 31, 2000 shall deliver no longer be available to the Borrower. No amount of the Loan repaid or prepaid by hand or by facsimile or other electronic means the Borrower may be reborrowed hereunder. By delivering a Borrowing Request to the Administrative Agent a duly completed Borrowing Request, together with the related Addition Notice, Borrowing Base Certificate and data tape on or other electronic file containing information regarding the Related Receivables to be transferred on such Funding Date not later than 1:00 before 3:00 p.m., New York City time, one Business Day before the proposed Funding Date. Such Borrowing Base Certificate shall provide the current calculation of the Class A Borrowing Base and Class B Borrowing Base (i) if such Funding Date is a Settlement Date, as of the end of business on the related Determination Date, or (ii) if such Funding Date is not a Settlement Date, as of the end of business on the Determination Date for the most recent Settlement Date (or as of the end of business on such date as agreed by the Administrative Agent). The Borrower shall submit no more than five (5) Borrowing Requests (and accompanying Addition Notices and Borrowing Base Certificates) per week, unless otherwise agreed by the Administrative Agent. Each Borrowing Request shall be irrevocable, shall be signed by or on behalf of the Borrower and shall specify the following information: (i) the Funding Date of such Loans (which shall be a Business Day); (ii) , the number Borrower may irrevocably request, on not less than three Business Days' notice for a LIBO Advance and location one Business Days' notice for a Base Rate Advance, that a Borrowing be made. On the terms and subject to the conditions of the account to which funds are to be disbursed (which this Agreement, each Borrowing shall be an account that complies with made on the requirements of Section 2.02(c)); and (iii) Business Day specified in such Borrowing Request. On or before 11:00 a.m., New York time, on the aggregate amount to be borrowed and the allocation of Class A Loans and Class B Loans requested; provided, however, that, notwithstanding any contrary specification Business Day specified in any such Borrowing Request, (x) each Lender shall, without any set-off or counterclaim, deposit with the Administrative Agent same day funds in an amount equal to such Lender's Percentage of the requested Borrowing. Such deposit will be made to an account which the Administrative Agent shall specify from time to time by notice to the Lenders. To the extent funds are so received from the Lenders, the Administrative Agent shall, without any set-off or counterclaim, make such funds available to the Borrower on the Business Day specified in the relevant Borrowing Request by wire transfer of same day funds to the accounts the Borrower shall not submit have specified in its Borrowing Request. No Lender's obligation to make any Class A Borrowing Request unless accompanied Loan shall be affected by a Class B Borrowing Request such that the aggregate amount of borrowing requested is proportionally split based on the Unrated Class A Advance Rate and the Unrated Class B Advance Rate and (y) each requested borrowing of Loans shall comply with the requirements set forth in Section 2.02. The Administrative Agent shall promptly advise the Lenders of any notice given pursuant other Lender's failure to this Section 2.03 (and the contents thereof), and of each Lender’s portion of the requested Loansmake any Loan.

Appears in 1 contract

Samples: Credit Agreement (Royal Caribbean Cruises LTD)

Borrowing Procedure. (a) In order to request a LoanBorrowing (other than a Swingline Loan or a deemed Borrowing pursuant to Section 2.22(e), as to which this Section 2.3 shall not apply), the Borrower shall hand deliver by hand or by facsimile or other electronic means fax to the Administrative Agent a duly completed Borrowing RequestRequest (a) in the case of a Eurodollar Borrowing, together with the related Addition Notice, Borrowing Base Certificate and data tape or other electronic file containing information regarding the Related Receivables to be transferred on such Funding Date not later than 1:00 p.m.11:00 a.m., New York City time, one three Business Day Days before a proposed Borrowing, and (b) in the proposed Funding Date. Such Borrowing Base Certificate shall provide the current calculation case of the Class A Borrowing Base and Class B Borrowing Base (i) if such Funding Date is a Settlement Datean ABR Borrowing, as of the end of business not later than 10:00 a.m., New York City time, on the related Determination Date, or (ii) if such Funding Date is not day of a Settlement Date, as of the end of business on the Determination Date for the most recent Settlement Date (or as of the end of business on such date as agreed by the Administrative Agent). The Borrower shall submit no more than five (5) Borrowing Requests (and accompanying Addition Notices and Borrowing Base Certificates) per week, unless otherwise agreed by the Administrative Agentproposed Borrowing. Each Borrowing Request shall be irrevocable, shall be signed by or on behalf of the Borrower and shall specify the following information: (i) whether the Funding Date Borrowing then being requested is to be a Term Loan Borrowing, an Incremental Term Loan Borrowing or a Revolving Credit Borrowing, and whether such Borrowing is to be a Eurodollar Borrowing or an ABR Borrowing; (ii) the date of such Loans Borrowing (which shall be a Business Day); (iiiii) the number and location of the account to which funds are to be disbursed disbursed; (which shall iv) the amount of such Borrowing; (v) if such Borrowing is to be an account that complies a Eurodollar Borrowing, the Interest Period with the requirements of Section 2.02(c))respect thereto; and (iiivi) that the aggregate amount to be borrowed and conditions set forth in Sections 4.1(b)-(c) are satisfied on the allocation date of Class A Loans and Class B Loans requestedsuch Borrowing Request; provided, however, that, notwithstanding any contrary specification in any Borrowing Request, (x) the Borrower shall not submit any Class A Borrowing Request unless accompanied by a Class B Borrowing Request such that the aggregate amount of borrowing requested is proportionally split based on the Unrated Class A Advance Rate and the Unrated Class B Advance Rate and (y) each requested borrowing of Loans Borrowing shall comply with the requirements set forth in Section 2.022.2. If no election as to the Type of Borrowing is specified in any such notice, then the requested Borrowing shall be an ABR Borrowing. If no Interest Period with respect to any Eurodollar Borrowing is specified in any such notice, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. The Administrative Agent shall promptly advise the applicable Lenders of any notice given pursuant to this Section 2.03 2.3 (and the contents thereof), and of each Lender’s portion of the requested LoansBorrowing.

Appears in 1 contract

Samples: Credit Agreement (Knoll Inc)

Borrowing Procedure. (a) In order to request a LoanBorrowing, the a Borrower shall hand deliver by hand or by send via facsimile or other electronic means to the Administrative Agent a duly completed Borrowing RequestRequest (i) in the case of a Eurodollar Borrowing, together with the related Addition Notice, Borrowing Base Certificate and data tape or other electronic file containing information regarding the Related Receivables to be transferred on such Funding Date not later than 1:00 p.m.11:00 a.m., New York City time, three Business Days before such Borrowing, and (ii) in the case of an ABR Borrowing, not later than 11:00 a.m., New York City time, one Business Day before the proposed Funding Datesuch Borrowing. Such Borrowing Base Certificate shall provide the current calculation of the Class A Borrowing Base and Class B Borrowing Base (i) if such Funding Date is a Settlement Date, as of the end of business on the related Determination Date, or (ii) if such Funding Date is not a Settlement Date, as of the end of business on the Determination Date for the most recent Settlement Date (or as of the end of business on such date as agreed by the Administrative Agent). The Borrower shall submit no more than five (5) Borrowing Requests (and accompanying Addition Notices and Borrowing Base Certificates) per week, unless otherwise agreed by the Administrative Agent. Each Borrowing Request notice shall be irrevocable, shall be signed by or on behalf of the Borrower irrevocable and shall in each case specify (A) whether the following information: Borrowing then being requested is to be a Eurodollar Borrowing or an ABR Borrowing, (iB) the Funding Date Tranche of such Loans Borrowing, (C) the date of such Borrowing (which shall be a Business Day); ) and the amount thereof, and (iiD) the number and location of the account to which funds are if such Borrowing is to be disbursed (a Eurodollar Borrowing, the Interest Period with respect thereto, which shall be an account that complies with not end after the requirements Applicable Commitment Termination Date. If no election as to the Type of Section 2.02(c)); and (iii) the aggregate amount to be borrowed and the allocation of Class A Loans and Class B Loans requested; provided, however, that, notwithstanding any contrary specification Borrowing is specified in any such notice, then the requested Borrowing Requestshall be deemed an ABR Borrowing. If no Interest Period with respect to any Eurodollar Borrowing is specified in any such notice, (x) then the Borrower shall not submit any Class A Borrowing Request unless accompanied by a Class B Borrowing Request such that be deemed to have selected an Interest Period of one month's duration (subject to the aggregate amount of borrowing requested is proportionally split based on the Unrated Class A Advance Rate and the Unrated Class B Advance Rate and (y) each requested borrowing of Loans shall comply with the requirements limitations set forth in the definition of "Interest Period"). If a Borrower shall not have given notice in accordance with this Section 2.02of its election to refinance a Borrowing prior to the end of the Interest Period in effect for such Borrowing, then such Borrower shall (unless such Borrowing is repaid at the end of such Interest Period) be deemed to have given notice of an election to refinance such Borrowing with an ABR Borrowing. Notwithstanding any other provision of this Agreement to the contrary, no Borrowing shall be requested if the Interest Period with respect thereto would end after the Applicable Commitment Termination Date. The Administrative Agent shall promptly advise the Lenders of any notice given pursuant to this Section 2.03 (and the contents thereof), and of each Lender’s 's portion of the requested LoansBorrowing.

Appears in 1 contract

Samples: Revolving Credit Agreement (Txu Corp /Tx/)

Borrowing Procedure. (a) In order By delivering a Borrowing Request to request the Agent at the Agent's Atlanta Office on or before 11:00 a.m., New York City time, on a LoanBusiness Day, the Borrower shall deliver by hand or by facsimile or other electronic means may from time to time request, (i) in the Administrative Agent case of Expansion Loans, on not less than two (2) Business Days' nor more than three (3) Business Days' notice and (ii) in the case of Revolving Credit Loans, on not less than two (2) Business Days' notice, that a duly completed Borrowing of Loans be made on the Business Day specified in such Borrowing Request, together with the related Addition Notice, . The Borrowing Base Certificate and data tape or other electronic file containing information regarding the Related Receivables Request shall specify whether such Borrowing is to be transferred made as Expansion Loans or Revolving Credit Loans. Borrowings of Expansion Loans shall be in a minimum aggregate amount equal to $250,000 and in integral multiples of $50,000 or, if less, the amount of the Expansion Loan Availability immediately prior to such Borrowing. Borrowings of Revolving Credit Loans shall be in a minimum aggregate amount equal to $50,000 and in integral multiples of $50,000 or, if less, the amount of the Revolving Credit Availability immediately prior to such Borrowing. Each Borrowing shall be made on the Business Day specified in the Borrowing Request therefor (including the initial Borrowing to be made on the Closing Date). On such Funding Date not later than 1:00 Business Day, each Lender shall, on or before 2:00 p.m., New York City time, one deposit same day funds with the Agent in an amount equal to such Lender's Percentage of the requested Borrowing, such deposit to be made to such account as the Agent shall specify from time to time by notice to the Lenders. On the Business Day before the proposed Funding Date. Such Borrowing Base Certificate shall provide the current calculation of the Class A Borrowing Base and Class B Borrowing Base (i) if such Funding Date is a Settlement Date, as of the end of business on the related Determination Date, or (ii) if such Funding Date is not a Settlement Date, as of the end of business on the Determination Date for the most recent Settlement Date (or as of the end of business on such date as agreed specified by the Administrative Agent). The Borrower shall submit no more than five (5) Borrowing Requests (and accompanying Addition Notices and Borrowing Base Certificates) per week, unless otherwise agreed by in the Administrative Agent. Each Borrowing Request shall be irrevocable, shall be signed by or on behalf of the Borrower and shall specify the following information: (i) the Funding Date of such Loans (which shall be a Business Day); (ii) the number and location of the account to which funds are to be disbursed (which shall be an account that complies with the requirements of Section 2.02(c)); and (iii) the aggregate amount to be borrowed and the allocation of Class A Loans and Class B Loans requested; provided, however, that, notwithstanding any contrary specification in any Borrowing Request, (x) the proceeds of all Borrowings shall be made available to the Borrower by wire transfer of such proceeds to such transferees, or to such accounts of the Borrower, as the Borrower shall not submit any Class A have specified in the Borrowing Request unless accompanied by a Class B Borrowing Request such therefor; PROVIDED, HOWEVER, that in each case the aggregate amount of borrowing requested is proportionally split based on the Unrated Class A Advance Rate and the Unrated Class B Advance Rate and (y) each requested borrowing of Loans shall comply with the requirements set forth in Section 2.02. The Administrative Agent shall promptly advise be required to make available to the Lenders Borrower the proceeds of any notice given pursuant Borrowing only to this Section 2.03 (and the contents thereof), and of each extent received by it in same day funds from the Lenders. No Lender’s portion of the requested Loans's obligation to make any Loan shall be affected by any other Lender's failure to make any Loan.

Appears in 1 contract

Samples: Credit Agreement (Phonetel Technologies Inc)

Borrowing Procedure. (a) In order to request a Loan, the Borrower shall deliver give Lender notice of each Borrowing by means of a Borrowing Request Form containing the information required therein and delivered (by hand or electronically by facsimile or other electronic means email) to Lender no later than 5:00 p.m. (Dallas, Texas time) on the Business Day prior to the Administrative Agent Business Day on which the Borrowing is desired to be funded. Any notice of Borrowing received after 5:00 p.m. (Dallas, Texas time) shall be processed by Lender on a duly commercially reasonable efforts basis on the immediately following Business Day but no later than the second Business Day following the Business Day on which it was received. Lender at its option may accept telephonic requests for such Borrowings, provided that such acceptance shall not constitute a waiver of Lender’s right to require delivery of a Borrowing Request Form in connection with subsequent Borrowings. Any telephonic request for a Borrowing by Borrower shall be promptly confirmed by submission of a properly completed Borrowing RequestRequest Form to Lender, together with the related Addition Notice, but failure to deliver a Borrowing Base Certificate and data tape or other electronic file containing information regarding the Related Receivables Request Form shall not be a defense to be transferred on such Funding Date not later than 1:00 p.m., New York City time, one Business Day before the proposed Funding Date. Such Borrowing Base Certificate shall provide the current calculation payment of the Class A Borrowing. Lender shall have no liability to Borrower for any loss or damage suffered by Borrower as a result of Lender’s honoring of any requests, execution of any instructions, authorizations or agreements or reliance on any reports communicated to it telephonically or electronically by email and purporting to have been sent to Lender by Borrower and Lender shall have no duty to verify the origin of any such communication or the identity or authority of the Person sending it. Subject to the terms and conditions of this Agreement, each Borrowing Base and Class B Borrowing Base shall be made available to Borrower by depositing the same, in immediately available funds, in an account of Borrower designated by Borrower maintained with Lender. If, after giving effect to a requested Borrowing, the Lender determines (either then or on any later day in the course of reviewing the same) that (i) if the Borrowing Request Form submitted to it is incomplete or incorrect in any material respect, then the Lender shall use commercially reasonable efforts to promptly inform Borrower of such Funding Date incomplete or incorrect Borrowing Request Form and withhold the entire Borrowing until Borrower shall have demonstrated to the Lender’s reasonable satisfaction that such Borrowing Request Form is a Settlement Date, as of the end of business on the related Determination Date, in fact not (or is no longer) incomplete or incorrect in any material respect or (ii) if such Funding Date is not a Settlement Date, as the amount of the end requested Borrowing exceeds the amount available to Borrower under the terms and conditions of business on this Agreement, then the Determination Date for the most recent Settlement Date (or as of the end of business on such date as agreed by the Administrative Agent). The Lender shall use commercially reasonable efforts to promptly inform Borrower shall submit no more than five (5) Borrowing Requests (and accompanying Addition Notices and Borrowing Base Certificates) per week, unless otherwise agreed by the Administrative Agent. Each Borrowing Request shall be irrevocable, shall be signed by or on behalf of the Borrower thereof and shall specify the following information: (i) the Funding Date of such Loans (which shall be a Business Day); (ii) the number and location of the account to which funds are to be disbursed (which shall be an account withhold that complies with the requirements of Section 2.02(c)); and (iii) the aggregate amount to be borrowed and the allocation of Class A Loans and Class B Loans requested; provided, however, that, notwithstanding any contrary specification in any Borrowing Request, (x) the Borrower shall not submit any Class A Borrowing Request unless accompanied by a Class B Borrowing Request such that the aggregate amount of borrowing requested is proportionally split based on the Unrated Class A Advance Rate and the Unrated Class B Advance Rate and (y) each requested borrowing of Loans shall comply with the requirements set forth in Section 2.02. The Administrative Agent shall promptly advise the Lenders of any notice given pursuant to this Section 2.03 (and the contents thereof), and of each Lender’s portion of the requested LoansBorrowing that exceeds the amount available to Borrower under the terms and conditions of this Agreement.

Appears in 1 contract

Samples: Credit and Security Agreement (AmeriHome, Inc.)

Borrowing Procedure. (a) In order to request a LoanStandby Borrowing, the a Borrower shall hand deliver by hand or by facsimile or other electronic means telecopy to the Administrative Agent a duly completed Standby Borrowing RequestRequest in the form of Exhibit A-5 (a) in the case of a Eurodollar Borrowing, together with the related Addition Notice, Borrowing Base Certificate and data tape or other electronic file containing information regarding the Related Receivables to be transferred on such Funding Date not later than 1:00 p.m.10:00 a.m., New York City Houston time, one three Business Day Days before such Borrowing, and (b) in the proposed Funding Datecase of an ABR Borrowing, not later than 10:00 a.m., Houston time, on the day of such Borrowing. No Fixed Rate Loan shall be requested or made pursuant to a Standby Borrowing Request. Such Borrowing Base Certificate notice shall provide the current calculation of the Class A Borrowing Base be irrevocable and Class B Borrowing Base shall in each case specify (i) if such Funding Date whether the Borrowing then being requested is to be a Settlement Date, as of the end of business on the related Determination Date, Eurodollar Borrowing or an ABR Borrowing; (ii) if such Funding Date is not a Settlement Date, as of the end of business on the Determination Date for the most recent Settlement Date (or as of the end of business on such date as agreed by the Administrative Agent). The Borrower shall submit no more than five (5) Borrowing Requests (and accompanying Addition Notices and Borrowing Base Certificates) per week, unless otherwise agreed by the Administrative Agent. Each Borrowing Request shall be irrevocable, shall be signed by or on behalf of the Borrower and shall specify the following information: (i) the Funding Date of such Loans Standby Borrowing (which shall be a Business Day); (ii) and the number and location of the account to which funds are to be disbursed (which shall be an account that complies with the requirements of Section 2.02(c))amount thereof; and (iii) the aggregate amount if such Borrowing is to be borrowed and a Eurodollar Borrowing, the allocation Interest Period with respect thereto, which shall not end after the Maturity Date. If no election as to the Type of Class A Loans and Class B Loans requested; provided, however, that, notwithstanding any contrary specification Borrowing is specified in any such notice, then the requested Borrowing Requestshall be an ABR Borrowing. If no Interest Period with respect to any Eurodollar Borrowing is specified in any such notice, (x) then the Borrower shall be deemed to have selected an Interest Period of one month's duration. If a Borrower shall not submit have given notice in accordance with this Section 2.04 of its election to refinance a Standby Borrowing prior to the end of the Interest Period in effect for such Borrowing, then such Borrower shall (unless such Borrowing is repaid at the end of such Interest Period) be deemed to have given notice of an election to refinance such Borrowing with an ABR Borrowing. Notwithstanding any Class A other provision of this Agreement to the contrary, no Borrowing Request unless accompanied by a Class B Borrowing Request such that shall be requested if the aggregate amount of borrowing requested is proportionally split based on Interest Period with respect thereto would end after the Unrated Class A Advance Rate and the Unrated Class B Advance Rate and (y) each requested borrowing of Loans shall comply with the requirements set forth in Section 2.02Maturity Date. The Administrative Agent shall promptly advise the Lenders of any notice given pursuant to this Section 2.03 (and the contents thereof), 2.04 and of each Lender’s 's portion of the requested LoansBorrowing.

Appears in 1 contract

Samples: Credit Facility Agreement (Texas Utilities Electric Co)

Borrowing Procedure. (a) In order to request a LoanBorrowing, the applicable Borrower shall deliver by hand or by facsimile or other electronic means give telephonic notice to the Administrative Agent (confirmed by hand delivery or telecopy of a duly completed Borrowing RequestRequest in the form of Exhibit A), together with (a) in the related Addition Noticecase of a Eurocurrency Borrowing, Borrowing Base Certificate and data tape or other electronic file containing information regarding the Related Receivables to be transferred on such Funding Date not later than 1:00 p.m.12:00 noon, London time, three Business Days before a proposed borrowing and (b) in the case of an ABR Borrowing, not later than 11:00 a.m., New York City time, one on the Business Day before the of a proposed Funding Dateborrowing. Such Borrowing Base Certificate notice shall provide the current calculation of the Class A Borrowing Base be irrevocable and Class B Borrowing Base shall in each case specify (i) if such Funding Date is in the case of a Settlement Borrowing on the Effective Date, as of whether the end of business on the related Determination Daterequested Borrowing is to be a Term Borrowing or a Revolving Borrowing, or (ii) if such Funding Date whether the Borrowing then being requested is not to be a Settlement DateEurocurrency Borrowing or an ABR Borrowing, as of the end of business on the Determination Date for the most recent Settlement Date (or as of the end of business on such date as agreed by the Administrative Agent). The Borrower shall submit no more than five (5) Borrowing Requests (and accompanying Addition Notices and Borrowing Base Certificates) per week, unless otherwise agreed by the Administrative Agent. Each Borrowing Request shall be irrevocable, shall be signed by or on behalf of the Borrower and shall specify the following information: (iiii) the Funding Date date of such Loans Borrowing (which shall be a Business Day); , (ii) the number and location of the account to which funds are to be disbursed (which shall be an account that complies with the requirements of Section 2.02(c)); and (iiiiv) the aggregate principal amount of such Borrowing, (v) the currency of such Borrowing (which, in the case of an ABR Revolving Borrowing, shall be Dollars) and (vi) if such Borrowing is to be borrowed and a Eurocurrency Borrowing, the allocation Interest Period with respect thereto. If no election as to the currency of Class A Loans and Class B Loans requested; provided, however, that, notwithstanding any contrary specification a Eurocurrency Revolving Borrowing is specified in any Borrowing Request, (x) then the applicable Revolving Borrower shall not submit any Class A be deemed to have requested a Revolving Borrowing Request unless accompanied by a Class B in Dollars. If no election as to the Type of Revolving Borrowing Request such that the aggregate amount of borrowing requested is proportionally split based on the Unrated Class A Advance Rate and the Unrated Class B Advance Rate and (y) each requested borrowing of Loans shall comply with the requirements set forth in Section 2.02. The Administrative Agent shall promptly advise the Lenders of any notice given pursuant to this Section 2.03 (and the contents thereof)specified, and of each Lender’s portion of then the requested LoansRevolving Borrowing shall be an ABR Revolving Borrowing if denominated in Dollars or a Eurocurrency Revolving Borrowing if denominated in the Alternative Currency. If no Interest Period with respect to any Eurocurrency Revolving Borrowing is specified, then the applicable Borrower shall be deemed to have selected an Interest Period of one month's duration.

Appears in 1 contract

Samples: Credit Agreement (Sothebys Holdings Inc)

Borrowing Procedure. (a) In order to request a LoanBorrowing, the Borrower shall hand deliver by hand or by send via facsimile or other electronic means to the Administrative Agent a duly completed Borrowing RequestRequest (i) in the case of a Eurodollar Borrowing, together with the related Addition Notice, Borrowing Base Certificate and data tape or other electronic file containing information regarding the Related Receivables to be transferred on such Funding Date not later than 1:00 p.m.11:00 a.m., New York City time, three Business Days before such Borrowing, (ii) in the case of an ABR Borrowing, not later than 11:00 a.m., New York City time, one Business Day before such Borrowing and (iii) in the proposed Funding Datecase of the initial Borrowing, not later than 9:00 a.m. New York City time, on the day of such Borrowing. Such Borrowing Base Certificate shall provide the current calculation of the Class A Borrowing Base and Class B Borrowing Base (i) if such Funding Date is a Settlement Date, as of the end of business on the related Determination Date, or (ii) if such Funding Date is not a Settlement Date, as of the end of business on the Determination Date for the most recent Settlement Date (or as of the end of business on such date as agreed by the Administrative Agent). The Borrower shall submit no more than five (5) Borrowing Requests (and accompanying Addition Notices and Borrowing Base Certificates) per week, unless otherwise agreed by the Administrative Agent. Each Borrowing Request notice shall be irrevocable, shall be signed by or on behalf of the Borrower irrevocable and shall in each case specify (A) whether the following information: Borrowing then being requested is to be a Eurodollar Borrowing or an ABR Borrowing, (iB) the Funding Date date of such Loans Borrowing (which shall be a Business Day); ) and the amount thereof, (iiC) if such Borrowing is to be a Eurodollar Borrowing, the Interest Period with respect thereto, which shall not end after the Applicable Maturity Date and (D) the location and number and location of the Borrower's account to which funds are to be disbursed (disbursed, which shall be an account that complies with the requirements of Section 2.02(c)); and (iii) the aggregate amount to be borrowed and the allocation of Class A Loans and Class B Loans requested; provided, however, that, notwithstanding any contrary specification in any Borrowing Request, (x) the Borrower shall not submit any Class A Borrowing Request unless accompanied by a Class B Borrowing Request such that the aggregate amount of borrowing requested is proportionally split based on the Unrated Class A Advance Rate and the Unrated Class B Advance Rate and (y) each requested borrowing of Loans shall comply with the requirements of this Agreement. If no election as to the Type of Borrowing is specified in any such notice, then the requested Borrowing shall be an ABR Borrowing. If no Interest Period with respect to any Eurodollar Borrowing is specified in any such notice, then the Borrower shall be deemed to have selected an Interest Period of one month's duration (subject to the limitations set forth in the definition of "INTEREST PERIOD"). If the Borrower shall not have given notice in accordance with this Section 2.022.03 of its election to refinance a Borrowing prior to the end of the Interest Period in effect for such Borrowing, then the Borrower shall (unless such Borrowing is repaid at the end of such Interest Period) be deemed to have given notice of an election to refinance such Borrowing with an ABR Borrowing. Notwithstanding any other provision of this Agreement to the contrary, no Borrowing shall be requested if the Interest Period with respect thereto would end after the Applicable Maturity Date. The Administrative Agent shall promptly advise the Lenders of any notice given pursuant to this Section 2.03 (and the contents thereof), and of each Lender’s 's portion of the requested LoansBorrowing.

Appears in 1 contract

Samples: Credit Agreement (Txu Corp /Tx/)

Borrowing Procedure. (a) In order to request effect a LoanBorrowing, the Borrower shall hand deliver by hand or by facsimile or other electronic means telecopy to the Administrative Agent a duly completed Borrowing RequestRequest substantially in the form of Exhibit D (a) in the case of a Borrowing of LIBOR Loans, together with the related Addition Notice, Borrowing Base Certificate and data tape or other electronic file containing information regarding the Related Receivables to be transferred on such Funding Date not later than 1:00 2:00 p.m., New York City time, one Business Day three Working Days before a proposed Borrowing, and (b) in the case of an ABR Borrowing or an FFR Borrowing, not later than 2:00 p.m., New York City time, on the day of a proposed Funding DateBorrowing. Such Borrowing Base Certificate shall provide the current calculation of the Class A Borrowing Base and Class B Borrowing Base (i) if such Funding Date is a Settlement Date, as of the end of business on the related Determination Date, or (ii) if such Funding Date is not a Settlement Date, as of the end of business on the Determination Date for the most recent Settlement Date (or as of the end of business on such date as agreed by the Administrative Agent). The Borrower shall submit no more than five (5) Borrowing Requests (and accompanying Addition Notices and Borrowing Base Certificates) per week, unless otherwise agreed by the Administrative Agent. Each Borrowing Request notice shall be irrevocable, shall be signed by or on behalf of the Borrower irrevocable and shall in each case specify (A) whether the following information: Borrowing then being requested is to be a Borrowing of LIBOR Loans, an ABR Borrowing or an FFR Borrowing, (iB) the Funding Date date of such Loans Borrowing (which shall be a Business Working Day); ) and the amount thereof and (iiC) the number and location of the account to which funds are if such Borrowing is to be disbursed (which a Borrowing of LIBOR Loans, the Interest Period with respect thereto. If no election as to the Interest Rate Type of a Borrowing is specified in any such notice, then the requested Borrowing shall be an account that complies ABR Borrowing. If no Interest Period with the requirements respect to any Borrowing of Section 2.02(c)); and (iii) the aggregate amount to be borrowed and the allocation of Class A LIBOR Loans and Class B Loans requested; provided, however, that, notwithstanding any contrary specification is specified in any Borrowing Requestsuch notice, (x) then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. If the Borrower shall not submit any Class A have given notice in accordance with this Section 2.5 of its election to refinance a Borrowing Request prior to the end of the Interest Period in effect for such Borrowing, then the Borrower shall (unless accompanied by a Class B such Borrowing Request is repaid at the end of such that the aggregate amount Interest Period) be deemed to have given notice of borrowing requested is proportionally split based on the Unrated Class A Advance Rate and the Unrated Class B Advance Rate and (y) each requested borrowing of Loans shall comply an election to refinance such Borrowing with the requirements set forth in Section 2.02an ABR Borrowing. The Administrative Agent shall promptly advise the Lenders of any notice given pursuant to this Section 2.03 (and the contents thereof), 2.5 and of each such Lender’s portion of the requested LoansBorrowing.

Appears in 1 contract

Samples: Credit Agreement (PHH Corp)

Borrowing Procedure. (a) In order to request a LoanBorrowing, the Borrower shall deliver by hand or by facsimile or other electronic means to notify the Administrative Agent of such request by telephone (a) in the case of a duly completed Borrowing RequestEurodollar Borrowing, together with the related Addition Notice, Borrowing Base Certificate and data tape or other electronic file containing information regarding the Related Receivables to be transferred on such Funding Date not later than 1:00 p.m.11:00 a.m., New York City time, three Business Days before a proposed Borrowing, and (b) in the case of an ABR Borrowing, not later than 12:00 noon, New York City time, one Business Day before the a proposed Funding Date. Such Borrowing Base Certificate shall provide the current calculation of the Class A Borrowing Base and Class B Borrowing Base (i) if such Funding Date is a Settlement Date, as of the end of business on the related Determination Date, or (ii) if such Funding Date is not a Settlement Date, as of the end of business on the Determination Date for the most recent Settlement Date (or as of the end of business on such date as agreed by the Administrative Agent). The Borrower shall submit no more than five (5) Borrowing Requests (and accompanying Addition Notices and Borrowing Base Certificates) per week, unless otherwise agreed by the Administrative AgentBorrowing. Each such telephonic Borrowing Request shall be irrevocable, and shall be signed confirmed promptly by hand delivery or on behalf fax to the Administrative Agent of the Borrower a written Borrowing Request and shall specify the following information: (i) whether the Funding Date Borrowing then being requested is to be an Initial Term Loan Borrowing or, a Delayed Draw Term Loan Borrowing and whether such Borrowing is to be a Eurodollar Borrowing or an ABR Borrowing (provided that (A) prior to the Conversion Date, there shall not be more than one Eurodollar Borrowing at any time and such Eurodollar Borrowing must have an Interest Period of one month’s duration and (B) prior to the Conversion Date, all Delayed Draw Term Loans must be ABR Loans); (ii) the date of such Loans Borrowing (which shall be a Business Day); (iiiii) the number and location of the account to which funds are to be disbursed disbursed; (which shall be an account that complies with iv) the requirements amount of Section 2.02(c))such Borrowing; and (iiiv) the aggregate amount if such Borrowing is to be borrowed and a Eurodollar Borrowing, the allocation of Class A Loans and Class B Loans requestedInterest Period with respect thereto; provided, however, that, notwithstanding any contrary specification in any Borrowing Request, (x) the Borrower shall not submit any Class A Borrowing Request unless accompanied by a Class B Borrowing Request such that the aggregate amount of borrowing requested is proportionally split based on the Unrated Class A Advance Rate and the Unrated Class B Advance Rate and (y) each requested borrowing of Loans Borrowing shall comply with the requirements set forth in Section 2.02. If no election as to the Type of Borrowing is specified in any such notice, then the requested Borrowing shall be an ABR Borrowing. If no Interest Period with respect to any Eurodollar Borrowing is specified in any such notice, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. The Administrative Agent shall promptly advise the applicable Lenders of any notice given pursuant to this Section 2.03 (and the contents thereof), and of each Lender’s portion of the requested LoansBorrowing.

Appears in 1 contract

Samples: Credit Agreement (Sunterra Corp)

Borrowing Procedure. (a) In order to request a LoanBorrowing, the Borrower shall deliver notify the Paying Agent of such request by hand or by facsimile or other electronic means to telephone (a) in the Administrative Agent case of a duly completed Borrowing RequestEurodollar Borrowing, together with the related Addition Notice, Borrowing Base Certificate and data tape or other electronic file containing information regarding the Related Receivables to be transferred on such Funding Date not later than 1:00 p.m.10:30 a.m., New York City time, one three Business Day Days before a proposed Borrowing and (b) in the case of an ABR Borrowing, not later than 10:30 a.m., New York City time, on the day of a proposed Funding DateBorrowing. Such Each such telephonic borrowing request shall be irrevocable and shall be confirmed promptly by hand delivery or telecopy to the Paying Agent of a written Borrowing Base Certificate Request in the form of Exhibit A. Each such telephonic and written Borrowing Request shall provide the current calculation of the Class A Borrowing Base and Class B Borrowing Base specify (i) if such Funding Date whether the Borrowing then being requested is to be a Settlement Date, as of the end of business on the related Determination Date, Eurodollar Borrowing or an ABR Borrowing; (ii) if such Funding Date is not a Settlement Date, as of the end of business on the Determination Date for the most recent Settlement Date (or as of the end of business on such date as agreed by the Administrative Agent). The Borrower shall submit no more than five (5) Borrowing Requests (and accompanying Addition Notices and Borrowing Base Certificates) per week, unless otherwise agreed by the Administrative Agent. Each Borrowing Request shall be irrevocable, shall be signed by or on behalf of the Borrower and shall specify the following information: (i) the Funding Date of such Loans Borrowing (which shall be a Business Day); (ii) and the number and location of the account to which funds are to be disbursed (which shall be an account that complies with the requirements of Section 2.02(c))amount thereof; and (iii) the aggregate amount if such Borrowing is to be borrowed and a Eurodollar Borrowing, the allocation Interest Period with respect thereto, which shall not end after the Maturity Date. If no election as to the Type of Class A Loans and Class B Loans requested; provided, however, that, notwithstanding any contrary specification Borrowing is specified in any such notice, then the requested Borrowing Requestshall be an ABR Borrowing. If no Interest Period with respect to any Eurodollar Borrowing is specified in any such notice, (x) then the Borrower shall be deemed to have selected an Interest Period of one month's duration. Notwithstanding any other provision of this Agreement to the contrary, the Borrower shall not submit be entitled to request any Class A Borrowing Request unless accompanied by a Class B if the Interest Period requested with respect to such Borrowing Request such that would end after the aggregate amount of borrowing requested is proportionally split based on the Unrated Class A Advance Rate and the Unrated Class B Advance Rate and (y) each requested borrowing of Loans shall comply with the requirements set forth in Section 2.02Maturity Date. The Administrative Paying Agent shall promptly advise the Lenders of any notice given pursuant to this Section 2.03 (and the contents thereof), 2.04 and of each Lender’s 's portion of the requested LoansBorrowing.

Appears in 1 contract

Samples: Agreement (At&t Corp)

Borrowing Procedure. By delivering a Borrowing Request to ------------------- the Administrative Agent on or before 12:00 noon, New York time, on a Business Day, a Borrower may from time to time irrevocably request, on not less than one, in the case of Base Rate Loans, or three, in the case of LIBO Rate Loans, nor (a) In order in either case), more than five Business Days' notice, that a Borrowing be made in a minimum amount of $1,000,000 and an integral multiple of $1,000,000, or in the unused amount of the Commitments. On the terms and subject to request a Loanthe conditions of this Agreement, each Borrowing shall be comprised of the Borrower type of Loans, and shall deliver be made on the Business Day, specified in such Borrowing Request (the "Funding Date"). On or before ------------ 11:00 a.m., New York time, on such Funding Date, each Lender shall deposit with the Administrative Agent same day funds in an amount equal to such Lender's Percentage of the requested Borrowing. Such deposit will be made to an account which the Administrative Agent shall specify from time to time by hand or notice to the Lenders. Unless the Administrative Agent shall have been notified by facsimile or other electronic means any Lender prior to the Funding Date for any Loans that such Lender does not intend to make available to the Administrative Agent a duly completed Borrowing Requestthe amount of such Lender's Loan requested on such Funding Date, together with the related Addition Notice, Borrowing Base Certificate and data tape or other electronic file containing information regarding Administrative Agent may assume that such Lender has made such amount available to the Related Receivables to be transferred Administrative Agent on such Funding Date and the Administrative Agent may, in its sole discretion, but shall not later than 1:00 p.m.be obligated to, New York City time, one Business Day before make available to the proposed Borrowers a corresponding amount on such Funding Date. Such Borrowing Base Certificate If such corresponding amount is not in fact made available to Administrative Agent by such Lender, Administrative Agent shall provide the current calculation of the Class A Borrowing Base and Class B Borrowing Base (i) if be entitled to recover such corresponding amount on demand from such Lender together with interest thereon, for each day from such Funding Date until the date such amount is a Settlement Datepaid to Administrative Agent, as of at the end of business on the related Determination Date, or (ii) if such Funding Date is not a Settlement Date, as of the end of business on the Determination Date customary rate set by Administrative Agent for the most recent Settlement Date (or as correction of errors among banks for three Business Days and thereafter at the end of business on Alternate Base Rate. If such date as agreed by Lender does not pay such corresponding amount forthwith upon the Administrative Agent). The Borrower shall submit no more than five (5) Borrowing Requests (and accompanying Addition Notices and Borrowing Base Certificates) per week's demand therefore, unless otherwise agreed by the Administrative Agent. Each Borrowing Request shall be irrevocable, shall be signed by or on behalf of the Borrower and shall specify the following information: (i) the Funding Date of such Loans (which shall be a Business Day); (ii) the number and location of the account to which funds are to be disbursed (which shall be an account that complies with the requirements of Section 2.02(c)); and (iii) the aggregate amount to be borrowed and the allocation of Class A Loans and Class B Loans requested; provided, however, that, notwithstanding any contrary specification in any Borrowing Request, (x) the Borrower shall not submit any Class A Borrowing Request unless accompanied by a Class B Borrowing Request such that the aggregate amount of borrowing requested is proportionally split based on the Unrated Class A Advance Rate and the Unrated Class B Advance Rate and (y) each requested borrowing of Loans shall comply with the requirements set forth in Section 2.02. The Administrative Agent shall promptly advise notify the Lenders Borrowers and the Borrowers shall within five Business Days pay such corresponding amount to the Administrative Agent together with interest thereon, for each day from such Funding Date until the date such amount is paid to Administrative Agent, at the rate payable under this Agreement for Base Rate Loans. Nothing in this Section shall be deemed to relieve any Lender from its obligation to fulfill its Commitments hereunder or to prejudice any rights that the Borrowers may have against any Lender as a result of any notice given pursuant default by such Lender hereunder. No Lender's obligation to this Section 2.03 (and the contents thereof), and of each make any Loan shall be affected by any other Lender’s portion of the requested Loans's failure to make any Loan.

Appears in 1 contract

Samples: Revolving Credit Agreement (Sun International North America Inc)

Borrowing Procedure. (a) In order to request a LoanBorrowing, the Borrower shall hand deliver by hand or by facsimile or other electronic means telecopy to the Administrative Agent a duly completed Borrowing RequestRequest (a) in the case of a Eurodollar Borrowing, together with the related Addition Notice, Borrowing Base Certificate and data tape or other electronic file containing information regarding the Related Receivables to be transferred on such Funding Date not later than 1:00 p.m.10:30 a.m., New York City time, one three Business Day Days before a proposed Borrowing and (b) in the case of an ABR Borrowing, not later than 10:30 a.m., New York City time, on the day of a proposed Funding DateBorrowing. Such Borrowing Base Certificate notice shall provide the current calculation of the Class A Borrowing Base be irrevocable and Class B Borrowing Base shall in each case specify (i) if such Funding Date whether the Borrowing then being requested is to be a Settlement Date, as of the end of business on the related Determination Date, Eurodollar Borrowing or an ABR Borrowing; (ii) if such Funding Date is not a Settlement Date, as of the end of business on the Determination Date for the most recent Settlement Date (or as of the end of business on such date as agreed by the Administrative Agent). The Borrower shall submit no more than five (5) Borrowing Requests (and accompanying Addition Notices and Borrowing Base Certificates) per week, unless otherwise agreed by the Administrative Agent. Each Borrowing Request shall be irrevocable, shall be signed by or on behalf of the Borrower and shall specify the following information: (i) the Funding Date of such Loans Borrowing (which shall be a Business Day); (ii) and the number and location of the account to which funds are to be disbursed (which shall be an account that complies with the requirements of Section 2.02(c)); amount thereof, and (iii) the aggregate amount if such Borrowing is to be borrowed and a Eurodollar Borrowing, the allocation Interest Period with respect thereto, which shall not end after the Revolving Maturity Date (or, if the Borrower has made the election referred to in Section 2.06(a), the Term-Out Maturity Date). If no election as to the Type of Class A Loans and Class B Loans requested; provided, however, that, notwithstanding any contrary specification Borrowing is specified in any such notice, then the requested Borrowing Requestshall be an ABR Borrowing. If no Interest Period with respect to any Eurodollar Borrowing is specified in any such notice, (x) then the Borrower shall be deemed to have selected an Interest Period of one month's duration. Notwithstanding any other provision of this Agreement to the contrary, the Borrower shall not submit be entitled to request any Class A Borrowing Request unless accompanied by a Class B if the Interest Period requested with respect to such Borrowing Request such that would end after the aggregate amount of borrowing requested is proportionally split based on the Unrated Class A Advance Rate and the Unrated Class B Advance Rate and (y) each requested borrowing of Loans shall comply with the requirements set forth in Section 2.02Revolving Maturity Date. The Administrative Agent shall promptly advise the Lenders of any notice given pursuant to this Section 2.03 (and the contents thereof), and of each Lender’s 's portion of the requested LoansBorrowing.

Appears in 1 contract

Samples: Agreement (Lucent Technologies Inc)

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