Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the Borrower shall deliver, by facsimile or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agent, a duly completed and executed Borrowing Request to the Administrative Agent (a) in the case of a Revolving Borrowing, not later than 12:00 p.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent), three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (b) in the case of Term Loan Borrowings to be made on the Closing Date, not later than 12:00 p.m., New York City time, (1) one Business Day before the date of the proposed Borrowing. Each Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.02: (a) whether the requested Borrowing is to be a Borrowing of Revolving Loans or Term Loans; (b) the aggregate amount of such Borrowing; (c) the date of such Borrowing, which shall be a Business Day; (d) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing; (e) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”; (f) the location and number of the account to which funds are to be disbursed; and (g) with respect to each Credit Extension made after the Closing Date, that the conditions set forth in Section 4.02(b) and Section 4.02(c) will be satisfied or waived as of the date the requested Borrowing is made. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar Borrowing with an Interest Period of one month’s duration. If the Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will be deemed to have specified an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.
Appears in 5 contracts
Sources: Assumption Agreement and Amendment No. 2 (iCIMS Holding LLC), Credit Agreement (iCIMS Holding LLC), Assumption Agreement and Amendment No. 1 (iCIMS Holding LLC)
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the Borrower shall deliver, by hand delivery, facsimile or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agent, a duly completed and executed Borrowing Request to the Administrative Agent (a) in the case of a Revolving Borrowing, not later than 12:00 p.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent), three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (b) in the case of Term Loan Borrowings to be made on the Closing Date, not later than 12:00 p.m., New York City time, (1) one Business Day before the date of the proposed Borrowing. Each Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Borrowing of Revolving Loans or Term Loans;
(b) the aggregate amount of such Borrowing;
(c) the date of such Borrowing, which shall be a Business Day;
(d) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(e) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
(f) the location and number of the account to which funds are to be disbursed; and
(g) with respect to each Credit Extension made after the Closing Date, that the conditions set forth in Section 4.02(b) and Section 4.02(c) will be satisfied or waived as of the date the requested Borrowing is made. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar Borrowing with an Interest Period of one month’s duration. If the Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will be deemed to have specified an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.
Appears in 4 contracts
Sources: Amendment Agreement (Jamf Holding Corp.), Credit Agreement (Jamf Holding Corp.), Credit Agreement (Juno Topco, Inc.)
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the Borrower shall deliver, by facsimile hand delivery, telecopier or other electronic transmission if arrangements for doing so have been approved mail (in writing (including via email) pdf form and then followed by the Administrative Agentoriginal via overnight mail), a duly completed and executed Borrowing Request to the Administrative Agent (ai) in the case of a Revolving Eurodollar Borrowing, not later than 12:00 2:00 p.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent)time, three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (bii) in the case of Term Loan Borrowings to be made on the Closing Datean ABR Borrowing, not later than 12:00 p.m.11:00 a.m., New York City time, (1) one Business Day before on the date of the proposed Borrowing. Each Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Borrowing of Revolving Loans or Term Loans;
(b) the aggregate amount of such Borrowing;
(c) the date of such Borrowing, which shall be a Business Day;
(d) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(e) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
(f) the location (which shall be an account in the United States) and number of the Borrower’s account to which funds are to be disbursed; and
(g) with respect to each Credit Extension made after the Closing Date, that the conditions set forth in Section 4.02(bSections 4.02(b)-(d) and Section 4.02(c) will be have been satisfied or waived as of the date of the requested Borrowing is madenotice. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar Borrowing with an ABR Borrowing. If no Interest Period of one month’s duration. If the is specified with respect to any requested Eurodollar Borrowing, then Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will shall be deemed to have specified selected an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.
Appears in 4 contracts
Sources: Credit Agreement (Mattress Firm Holding Corp.), Credit Agreement (Mattress Firm Holding Corp.), Credit Agreement (Mattress Firm Holding Corp.)
Borrowing Procedure. To In order to request a Revolving Term Loan Borrowing or Term Loan a Revolving Credit Borrowing, the Borrower shall deliver, by facsimile or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agent, a duly completed and executed Borrowing Request to notify the Administrative Agent (a) in the case of a Revolving Borrowing, such request by telephone not later than 12:00 p.m., New York City time time, (or such later time on such a) one Business Day before a proposed Borrowing of Eurodollar Loans on the Funding Date and (b) three Business Days before a proposed Borrowing of Eurodollar Loans or SOFR Loans on any other date (or, in each case, such shorter period as may be reasonably acceptable to agreed by the Administrative Agent), three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (b) in the case of Term Loan Borrowings to be made on the Closing Date, not and no later than 12:00 p.m., New York City time, (1) one on the Business Day before the date of a proposed Borrowing in the proposed Borrowingcase of a Borrowing of ABR Loans. Each such telephonic Borrowing Request shall be irrevocable irrevocable, and shall be confirmed promptly by hand delivery, e-mail or fax to the Administrative Agent of a written Borrowing Request and shall specify the following information in compliance with Section 2.02:
information: (ai) whether the Borrowing then being requested Borrowing is to be a Borrowing of Term Loans, Revolving Credit Loans, Incremental Term Loans or Term Incremental Revolving Loans;
; (b) the aggregate amount of such Borrowing;
(cii) the date of such Borrowing, Borrowing (which shall be a Business Day;
); (d) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(e) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
(fiii) the number and location and number of the account to which funds are to be disbursed; (iv) the amount of such Borrowing (stated in the Available Currency); and (v) whether the Loans being made pursuant to such Borrowings are to be initially maintained as ABR Loans, Eurodollar Loans or SOFR Loans and
(g) , if Eurodollar Loans or SOFR Loans, the Interest Period with respect to each Credit Extension made after the Closing Datethereto; provided, however, that the conditions initial Interest Period of any Eurodollar Borrowing made on the Funding Date shall end on a date reasonably satisfactory to the Administrative Agent specified by the Borrower in such Borrowing Request; provided, however, that, notwithstanding any contrary specification in any Borrowing Request, each requested Borrowing shall comply with the requirements set forth in Section 4.02(b) and Section 4.02(c) will be satisfied or waived as of the date the requested Borrowing is made2.02. If no election as Interest Period with respect to the Type of any Eurodollar Borrowing or SOFR Borrowing is specifiedspecified in any such notice, then the requested Borrowing Borrower shall be a Eurodollar Borrowing with deemed to have selected an Interest Period of one month’s duration. If the Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will be deemed to have specified an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03, the The Administrative Agent shall promptly advise each Lender the applicable Lenders of any notice given pursuant to this Section 2.03 (and the details thereof contents thereof), and of the amount of such each Lender’s Loan to be made as part portion of the requested Borrowing. Notwithstanding anything to the contrary set forth herein, no request for Borrowing of Eurodollar Loans may be made for a Borrowing Date occurring after June 30, 2023.
Appears in 3 contracts
Sources: Incremental Loan Assumption Agreement (Altice USA, Inc.), Refinancing Amendment to Credit Agreement (Altice USA, Inc.), Credit Agreement (Altice USA, Inc.)
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the Lead Borrower shall deliver, notify the Administrative Agent of such request by facsimile telecopy or other electronic transmission (if arrangements for doing so have been approved in writing (including via email) by the Administrative Agent, a duly completed and executed Borrowing Request to the Administrative Agent which approval shall not be unreasonably withheld, conditioned or delayed) or telephone (apromptly confirmed by telecopy or electronic transmission) (i) in the case of a Revolving BorrowingBorrowing of LIBO Rate Loans, not later than 12:00 1:00 p.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent)time, three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (bii) in the case of Term Loan Borrowings to be made on the Closing Datea Borrowing of Base Rate Loans (other than Swingline Loans), not later than 12:00 1:00 p.m., New York City time, (1) one Business Day before on the date of the proposed Borrowing. Each such telephonic Notice of Borrowing Request shall be irrevocable irrevocable, subject to Sections 2.09 and 3.01, and shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written Notice of Borrowing in a form approved by the Administrative Agent and signed by the Lead Borrower. Each such telephonic and written Notice of Borrowing shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Borrowing of Revolving Loans or Term Loans;
(b) the aggregate amount of such Borrowing;
(cb) the date of such Borrowing, which shall be a Business Day;
(dc) whether such Borrowing is to be an ABR a Borrowing of Base Rate Loans or a Eurodollar BorrowingBorrowing of LIBO Rate Loans;
(ed) in the case of a Eurodollar BorrowingBorrowing of LIBO Rate Loans, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;; provided that if the Borrowers wish to request LIBO Rate Loans having an Interest Period other than one, two, three or six months in duration as provided in the definition of “Interest Period,” the applicable notice must be received by the Administrative Agent not later than 11:00 a.m., New York City time, four Business Days prior to the requested date of such Borrowing, conversion or continuation, whereupon the Administrative Agent shall give prompt notice to each Lender of such request and determine whether the requested Interest Period is acceptable to all of them and the Administrative Agent shall notify the Lead Borrower (which notice may be by telephone) not later than 11:00 a.m., New York City time, three Business Days before the requested date of such Borrowing, conversion or continuation whether or not the requested Interest Period has been consented to by such Lenders; and
(fe) the location and number of the account to which funds are to be disbursed; and
(g) , which shall comply with respect to each Credit Extension made after the Closing Date, that the conditions set forth in requirements of Section 4.02(b) and Section 4.02(c) will be satisfied or waived as of the date the requested Borrowing is made2.02. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar Borrowing with an of Base Rate Loans. If no Interest Period is specified with respect to any requested Borrowing of one month’s duration. If LIBO Rate Loans, then the Lead Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will shall be deemed to have specified selected an Interest Period of one month’s duration. Promptly following receipt of a Notice of Borrowing Request in accordance with this Section 2.03, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.
Appears in 3 contracts
Sources: Revolving Credit Agreement (PAE Inc), Revolving Credit Agreement (PAE Inc), Revolving Credit Agreement (PAE Inc)
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the Borrower shall deliver, by facsimile hand delivery or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agenttelecopy, a duly completed and executed Borrowing Request to the Administrative Agent (ai) in the case of a Revolving Eurodollar Borrowing, not later than 12:00 p.m.11:00 a.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent)time, three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (bii) in the case of Term Loan Borrowings to be made on the Closing Datean ABR Borrowing, not later than 12:00 p.m.11:00 a.m., New York City time, (1) one Business Day before on the date of the proposed Borrowing. Each Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Revolving Borrowing of Revolving Loans or Term LoansLoan Borrowing;
(b) the aggregate amount of such Borrowing;
(c) the date of such Borrowing, which shall be a Business Day;
(d) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(e) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “"Interest Period”"; provided that at any time on or before the earlier of (x) the date on which the Lead Arranger shall have notified Borrower that a Successful Syndication has been achieved and (y) the thirtieth day following the Closing Date, the Interest Period shall be seven days;
(f) the location and number of the Borrower's account to which funds are to be disbursed, which shall comply with the requirements of Section 2.02; and
(g) with respect to each Credit Extension made after the Closing Date, that the conditions set forth in Section 4.02(bSections 4.02(b)-(e) and Section 4.02(c) will be are satisfied or waived as of the date of the requested Borrowing is madenotice. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a an ABR Borrowing. If no Interest Period is specified with respect to any requested Eurodollar Borrowing with Revolving Borrowing, then Borrower shall be deemed to have selected an Interest Period of one month’s duration. If 's duration (subject to the Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will be deemed to have specified an Interest Period of one month’s durationproviso in clause (e) above). Promptly following receipt of a Borrowing Request in accordance with this Section 2.03Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s 's Loan to be made as part of the requested Borrowing.
Appears in 3 contracts
Sources: Credit Agreement (Norcraft Companies Lp), Credit Agreement (Norcraft Companies Lp), Credit Agreement (Norcraft Companies Lp)
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the Borrower shall deliver, by hand delivery, facsimile or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agent, a duly completed and executed Borrowing Request to the Administrative Agent (ai) in the case of a Revolving Eurodollar Borrowing, not later than 12:00 2:00 p.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent), three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month(or, or (b) in the case of Eurodollar Borrowings that are Term Loan Borrowings to be made on the Closing Date, not later than 12:00 p.m., New York City time, (1) one Business Day before the date of the proposed Borrowing) or (ii) in the case of an ABR Borrowing, not later than 12:00 noon., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent), on the Business Day prior to the proposed Borrowing. Each Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Borrowing of Revolving Loans or Term Loans;
(b) the aggregate amount of such Borrowing;
(c) the date of such Borrowing, which shall be a Business Day;
(d) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(e) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
(f) the location and number of the account to which funds are to be disbursed; and
(g) with respect to each Credit Extension made after the Closing DateExtension, that the conditions set forth in Section 4.02(b) and Section 4.02(c) will be satisfied or waived as of the date the requested Borrowing is made. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar Borrowing with an Interest Period of one month’s duration. If the Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will be deemed to have specified an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.
Appears in 3 contracts
Sources: Credit Agreement (Dragoneer Growth Opportunities Corp. II), Credit Agreement (Ping Identity Holding Corp.), Credit Agreement (Roaring Fork Holding, Inc.)
Borrowing Procedure. To request a In the case of Revolving Borrowing or Term Loan Borrowing, the Borrower shall deliverLoans and EPL Loans, by facsimile or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agent, delivering a duly completed and executed Borrowing Request to the Administrative Agent on or before noon, New York time, on a Business Day, the Borrower, in the case of Revolving Loans, or EPL, in the case of EPL Loans, may from time to time irrevocably request, on the same Business Day’s notice in the case of Base Rate Loans, or three Business Days’ notice in the case of LIBO Rate Loans, and in either case not more than five Business Days’ notice, that a Borrowing be made, (a) in the case of a Revolving BorrowingLIBO Rate Loans, not later than 12:00 p.m.in an aggregate minimum amount of $1,000,000 and an integral multiple of $1,000,000, New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent), three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (b) in the case of Term Base Rate Loans, in an aggregate minimum amount of $1,000,000 and an integral multiple of $1,000,000 or, in either case, in the unused amount of the Revolving Loan Borrowings Availability or the EPL Loan Availability, as applicable; provided, that no LIBO Rate Loans may be advanced when any Default, Borrowing Base Deficiency or EPL Borrowing Base Deficiency has occurred and is continuing. Each such irrevocable request may be made by telephone confirmed promptly by hand delivery, electronic mail or facsimile to the Administrative Agent of the applicable Borrowing Request. On the terms and subject to the conditions of this Agreement, each Borrowing shall be comprised of the Type of Loans, and shall be made on the Closing DateBusiness Day, not later than 12:00 specified in such Borrowing Request. In the case of Revolving Loans or EPL Loans, on or before 11:00 a.m., New York time, on such Business Day (or 3:00 p.m., New York City time, (1) one Business Day before the date of the proposed Borrowing. Each Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Borrowing of Revolving Loans or Term Loans;
(b) the aggregate amount of such Borrowing;
(c) the date of such Borrowing, which shall be a Business Day;
(d) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(e) in the case of a Eurodollar BorrowingBase Rate Loan requested on the same Business Day), each Lender that has a Revolving Loan Commitment or EPL Loan Commitment, as applicable, to make the initial Interest Period Loans being requested shall deposit with the Administrative Agent same day funds in an amount equal to be applicable thereto, which shall be a period contemplated by the definition such Revolving Lender’s Percentage of the term “Interest Period”;
(f) the location and number of the account to which funds are to be disbursed; and
(g) with respect to each Credit Extension made after the Closing Date, that the conditions set forth in Section 4.02(b) and Section 4.02(c) will be satisfied or waived as of the date the requested Borrowing is madeor such EPL Lender’s Percentage of the requested Borrowing, as applicable. If no election as Such deposit will be made to an account which the Administrative Agent shall specify from time to time by notice to the Type of Borrowing is specifiedRevolving Lenders or EPL Lenders, then as applicable. To the requested Borrowing shall be a Eurodollar Borrowing with an Interest Period of one month’s duration. If extent funds are received from the Borrower requests a Eurodollar Borrowing but fails to specify an Interest PeriodRevolving Lenders or EPL Lenders, the Borrower will be deemed to have specified an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03as applicable, the Administrative Agent shall advise each Lender of make such funds available to the details thereof and of Borrower or EPL, as applicable, by wire transfer to the amount of such accounts the Borrower or EPL, as applicable, shall have specified in its Borrowing Request. No Lender’s obligation to make any Loan shall be affected by any other Lender’s failure to be made as part of the requested Borrowingmake any Loan.
Appears in 3 contracts
Sources: First Lien Credit Agreement (Epl Oil & Gas, Inc.), First Lien Credit Agreement (Energy Xxi (Bermuda) LTD), First Lien Credit Agreement (Energy Xxi (Bermuda) LTD)
Borrowing Procedure. To request a Revolving Borrowing or a Term Loan Borrowing, the Borrower shall deliver, by facsimile or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agent, a duly completed and executed Borrowing Request to notify the Administrative Agent of such request by telephone (promptly confirmed by telecopy) (a) in the case of a Revolving Eurodollar Borrowing, not later than 12:00 1:00 p.m., New York City time time, three Business Days before the date of the proposed Borrowing or (or such b) in the case of an ABR Borrowing, not later time on such than 1:00 p.m., New York City time, one Business Day as may be reasonably acceptable to the Administrative Agent), three (3) Business Days before the date of the proposed Borrowing; provided that a any such notice of an ABR Revolving Borrowing to finance the reimbursement of an LC Disbursement as contemplated by Section 2.18(e) may not be requested more than twice per calendar month, or (b) in the case of Term Loan Borrowings to be made on the Closing Date, given not later than 12:00 p.m.11:00 a.m., New York City time, (1) one Business Day before on the date of the proposed Borrowing. Each such telephonic Borrowing Request shall be irrevocable and shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written Borrowing Request in a form approved by the Administrative Agent and signed by Borrower. Each such telephonic and written Borrowing Request shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Revolving Borrowing of Revolving Loans or a Term LoansLoan Borrowing;
(b) the aggregate amount of such Borrowing;
(c) the date of such Borrowing, which shall be a Business Day;
(d) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(e) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;; provided that until the earlier of (i) the date which is 30 days after the Closing Date and (ii) the date on which a successful syndication of the Loans and Commitments shall have been declared by the Joint Lead Arrangers, Borrower shall only be permitted to request an Interest Period of seven days; and
(f) the location and number of the Borrower’s account to which funds are to be disbursed; and
(g) , which shall comply with respect to each Credit Extension made after the Closing Date, that the conditions set forth in requirements of Section 4.02(b) and Section 4.02(c) will be satisfied or waived as of the date the requested Borrowing is made2.02. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a an ABR Borrowing. If no Interest Period is specified with respect to any requested Eurodollar Borrowing with Revolving Borrowing, then Borrower shall be deemed to have selected an Interest Period of one month’s duration. If duration (subject to the Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will be deemed to have specified an Interest Period proviso of one month’s durationclause (e) above). Promptly following receipt of a Borrowing Request in accordance with this Section 2.03Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.
Appears in 3 contracts
Sources: Credit Agreement (Cpi International, Inc.), Credit Agreement (Cpi International, Inc.), Credit Agreement (Cpi International, Inc.)
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the Borrower shall deliver, by facsimile or The following procedures apply to Borrowings other electronic transmission if arrangements for doing so have been approved in writing than Swing Line Borrowings (including via emailsee Section 2.4) by the Administrative Agent, a duly completed and executed Borrowing Request to the Administrative Agent drawings under an LC (a) in the case of a Revolving Borrowing, not later than 12:00 p.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent), three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (b) in the case of Term Loan Borrowings to be made on the Closing Date, not later than 12:00 p.m., New York City time, (1) one Business Day before the date of the proposed Borrowing. Each Borrowing Request shall be irrevocable and shall specify the following information in compliance with see Section 2.02:2.3):
(a) whether the requested Borrowing is to be Borrower may request a Borrowing by submitting to Administrative Agent a Borrowing Request. The Borrowing Request must be received by Administrative Agent no later than (i) 12:00 noon on the third Business Day preceding the Borrowing Date for any LIBOR Rate Borrowing or (ii) 11:00 a.m. on the Borrowing Date for any ABR Borrowing. Administrative Agent shall promptly notify each Lender of Revolving Loans or Term Loans;its receipt of any Borrowing Request and its contents. A Borrowing Request is irrevocable and binding on Borrower.
(b) By 2:00 p.m. on the aggregate amount applicable Borrowing Date, each Lender shall remit its Pro Rata Part of each requested Borrowing by wire transfer to Administrative Agent pursuant to Administrative Agent’s wire transfer instructions on Schedule 1 (or as otherwise directed by Administrative Agent) in funds that are available for immediate use by Administrative Agent. Subject to receipt of such Borrowing;funds, Administrative Agent shall make such funds available to Borrower as directed in the Borrowing Request (unless Administrative Agent has actual knowledge that any applicable condition precedent has not been satisfied by Borrower and has not been waived by Majority Lenders).
(c) the date of such BorrowingAbsent contrary written notice from a Lender, which shall be a Business Day;
(d) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(e) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition Administrative Agent may assume that each Lender has made its Pro Rata Part of the term “Interest Period”;
(f) requested Borrowing available to Administrative Agent on the location and number of the account to which funds are to be disbursed; and
(g) with respect to each Credit Extension made after the Closing applicable Borrowing Date, and Administrative Agent may, in reliance upon such assumption (but is not required to), make available to Borrower a corresponding amount. If a Lender fails to make its Pro Rata Part of any requested Borrowing available to Administrative Agent on the applicable Borrowing Date, Administrative Agent may recover the applicable amount on demand (i) from that Lender, together with interest at the conditions set forth in Section 4.02(b) and Section 4.02(c) will be satisfied or waived as of Federal Funds Effective Rate for the period commencing on the date the requested Borrowing is made. If no election as amount was made available to Borrower by Administrative Agent and ending on (but excluding) the date Administrative Agent recovers the amount from that Lender or (ii) if that Lender fails to pay its amount upon demand, then from Borrower, together with interest at an annual interest rate equal to the Type of Borrowing is specified, then rate applicable to the requested Borrowing shall be a Eurodollar for the period commencing on the Borrowing with an Interest Period of one month’s duration. If Date and ending on (but excluding) the Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will be deemed to have specified an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03, the date Administrative Agent shall advise each Lender of the details thereof and of recovers the amount from Borrower. No Lender is responsible for the failure of such Lender’s Loan any other Lender to be made as part make its Pro Rata Part of the requested any Borrowing.
Appears in 3 contracts
Sources: Credit Agreement (Monro, Inc.), Credit Agreement (Monro Muffler Brake Inc), Credit Agreement (Monro Muffler Brake Inc)
Borrowing Procedure. To request The following procedures apply to all Borrowings (other than a Revolving Borrowing or Term Loan Swing Line Borrowing, the Borrower shall deliver, by facsimile or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agent, a duly completed and executed Borrowing Request to the Administrative Agent ):
(a) in the case of a Revolving Borrowing, not later than 12:00 p.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent), three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Each Borrowing may not be requested more than twice per calendar month, or (b) in the case of Term Loan Borrowings to shall be made on Borrower's notice (a "NOTICE OF BORROWING," substantially in the Closing Dateform of EXHIBIT B-1) to Administrative Agent requesting that Lenders fund a Borrowing on a certain date (the "BORROWING DATE"), not later than 12:00 p.m., New York City time, which notice (1i) one Business Day before the date of the proposed Borrowing. Each Borrowing Request shall be irrevocable and binding on Borrower, (ii) shall specify if it is for a Borrowing under the Revolver Facility, Term Loan A, Term Loan B, or Term Loan C, (iii) shall specify the following information in compliance with Section 2.02:
Borrowing Date, amount, Type, and (a) whether the requested Borrowing is to be for a Borrowing comprised of Revolving Loans Eurodollar Rate Borrowings) Interest Period, and (iv) must be received by Administrative Agent no later than 10:00 a.m. Dallas, Texas time on the third Business Day preceding the Borrowing Date for any Eurodollar Rate Borrowing or Term Loans;on the Business Day immediately preceding the Borrowing Date for any Base Rate Borrowing. Administrative Agent shall timely notify each Lender with respect to each Notice of Borrowing.
(b) Each Lender shall remit its Pro Rata Part for the aggregate amount relevant Facility of each requested Borrowing to Administrative Agent's principal office in Dallas, in funds which are or will be available for immediate use by Administrative Agent by 1:00 p.m. Dallas time on the Borrowing Date therefor. Subject to receipt of such funds, Administrative Agent shall (unless to its actual knowledge any of the conditions precedent therefor have not been satisfied by Borrower or waived by Required Lenders) make such funds available to Borrower by causing such funds to be deposited to Borrower's account as designated to Administrative Agent by Borrower. Notwithstanding the foregoing, unless Administrative Agent shall have been notified by a Lender prior to a Borrowing Date that such Lender does not intend to make available to Administrative Agent such Lender's Pro Rata Part of the applicable Borrowing;
, Administrative Agent may assume that such Lender has made such proceeds available to Administrative Agent on such date, as required herein, and Administrative Agent may (cunless to its actual knowledge any of the conditions precedent therefor have not been satisfied by Borrower or waived by Required Lenders), in reliance upon such assumption (but shall not be required to), make available to Borrower a corresponding amount in accordance with the foregoing terms, but, if such corresponding amount is not in fact made available to Administrative Agent by such Lender on such Borrowing Date, Administrative Agent shall be entitled to recover such corresponding amount on demand (i) from such Lender, together with interest at the Federal Funds Rate during the period commencing on the date such corresponding amount was made available to Borrower and ending on (but excluding) the date of Administrative Agent recovers such Borrowingcorresponding amount from such 31 ▇▇▇▇▇▇/SYGNET OPERATING CREDIT AGREEMENT Lender, which or (ii) if such Lender fails to pay such corresponding amount forthwith upon such demand, then from Borrower, TOGETHER WITH interest at a rate per annum equal to the applicable rate for such Borrowing during the period commencing on such Borrowing Date and ending on (but excluding) the date Administrative Agent recovers such corresponding amount from Borrower. No Lender shall be a Business Day;
(d) whether such Borrowing is responsible for the failure of any other Lender to be an ABR Borrowing or a Eurodollar Borrowing;
(e) in the case make its Pro Rata Part of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
(f) the location and number of the account to which funds are to be disbursed; and
(g) with respect to each Credit Extension made after the Closing Date, that the conditions set forth in Section 4.02(b) and Section 4.02(c) will be satisfied or waived as of the date the requested Borrowing is made. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar Borrowing with an Interest Period of one month’s duration. If the Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will be deemed to have specified an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested any Borrowing.
Appears in 2 contracts
Sources: Credit Agreement (Dobson Communications Corp), Credit Agreement (Dobson Sygnet Communications Co)
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the Borrower shall delivergive Administrative Agent notice of each Borrowing by means of a Borrowing Request Form containing the information required therein and delivered (by hand or by mechanically confirmed facsimile) to Administrative Agent no later than 5:00 p.m. (New York, NY time) on the day prior to which the Borrowing is desired to be funded. Each Borrowing shall be in 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 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 ▇▇▇▇▇▇▇▇ as a result of ▇▇▇▇▇▇▇’ honoring of any requests, execution of any instructions, authorizations or agreements or reliance on any reports communicated to it telephonically, by facsimile or other electronic transmission if arrangements for doing so electronically and purporting to have been approved in writing (including via email) sent to Administrative Agent by ▇▇▇▇▇▇▇▇ and Lenders shall have no duty to verify the Administrative Agent, a duly completed and executed Borrowing Request origin of any such communication or the identity or authority of the Person sending it. Subject to the Administrative Agent (a) in the case terms and conditions of a Revolving Borrowingthis Agreement, not later than 12:00 p.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent), three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (b) in the case of Term Loan Borrowings to be made on the Closing Date, not later than 12:00 p.m., New York City time, (1) one Business Day before the date of the proposed Borrowing. Each Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Borrowing of Revolving Loans or Term Loans;
(b) the aggregate amount of such Borrowing;
(c) the date of such Borrowing, which shall be a Business Day;
(d) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(e) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
(f) the location and number of the account to which funds are to be disbursed; and
(g) with respect to each Credit Extension made after the Closing Date, that the conditions set forth in Section 4.02(b) and Section 4.02(c) will be satisfied or waived as of the date the requested Borrowing is made. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be made available to Borrower by depositing the same, in immediately available funds, in an account of Borrower designated by ▇▇▇▇▇▇▇▇ maintained with Administrative Agent at the Principal Office. If, after giving effect to a Eurodollar Borrowing with an Interest Period of one month’s duration. If the Borrower requests a Eurodollar Borrowing but fails to specify an Interest Periodrequested Borrowing, the Borrower will be deemed to have specified an Interest Period of one month’s duration. Promptly following receipt of there is a Borrowing Request in accordance with this Section 2.03Base Deficiency, the or if Administrative Agent determines (either then or on any later day in the course of reviewing the same) that the Borrowing Request Form submitted to it is incomplete or incorrect in any material respect, then Lenders shall advise each Lender of withhold the details thereof and of the amount of entire Borrowing until Borrower shall have demonstrated to Administrative Agent’s reasonable satisfaction that such Lender’s Loan to be made as part of the requested BorrowingBorrowing Request Form is in fact not (or is no longer) incomplete or incorrect in any material respect.
Appears in 2 contracts
Sources: Credit and Security Agreement (loanDepot, Inc.), Credit and Security Agreement (loanDepot, Inc.)
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the Borrower shall deliver, by facsimile or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agent, a duly completed and executed Borrowing Request to notify the Administrative Agent of such request by telephone (promptly confirmed by telecopy) (a) in the case of a Revolving Eurodollar Borrowing, not later than 12:00 1:00 p.m., New York City time time, three Business Days before the date of the proposed Borrowing or (or such b) in the case of an ABR Borrowing, not later time on such than 1:00 p.m., New York City time, one Business Day as may be reasonably acceptable to the Administrative Agent), three (3) Business Days before the date of the proposed Borrowing; provided that a any such notice of an ABR Revolving Borrowing to finance the reimbursement of an LC Disbursement as contemplated by Section 2.18(e) may not be requested more than twice per calendar month, or (b) in the case of Term Loan Borrowings to be made on the Closing Date, given not later than 12:00 p.m.11:00 a.m., New York City time, (1) one Business Day before on the date of the proposed Borrowing. Each such telephonic Borrowing Request shall be irrevocable and shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written Borrowing Request in a form approved by the Administrative Agent and signed by Borrower. Each such telephonic and written Borrowing Request shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Revolving Borrowing of Revolving Loans or a Term LoansBorrowing;
(b) the aggregate amount of such Borrowing;
(c) the date of such Borrowing, which shall be a Business Day;
(d) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(e) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;; provided that until the earlier of (i) the date which is 30 days after the Closing Date and (ii) the date on which a successful syndication of the Loans and Commitments shall have been declared by the Joint Lead Arrangers, Borrower shall only be permitted to request an Interest Period of seven days; and
(f) the location and number of the Borrower’s account to which funds are to be disbursed; and
(g) , which shall comply with respect to each Credit Extension made after the Closing Date, that the conditions set forth in requirements of Section 4.02(b) and Section 4.02(c) will be satisfied or waived as of the date the requested Borrowing is made2.02. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a an ABR Borrowing. If no Interest Period is specified with respect to any requested Eurodollar Borrowing with Revolving Borrowing, then Borrower shall be deemed to have selected an Interest Period of one month’s duration. If duration (subject to the Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will be deemed to have specified an Interest Period proviso of one month’s durationclause (e) above). Promptly following receipt of a Borrowing Request in accordance with this Section 2.03Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.
Appears in 2 contracts
Sources: Credit Agreement (Cpi International, Inc.), Credit Agreement (Cpi International, Inc.)
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the Borrower shall deliver, by facsimile hand delivery or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agenttelecopier, a duly completed and executed Borrowing Request to the Administrative Agent (ai) in the case of a Revolving Eurodollar Borrowing, not later than 12:00 p.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent), three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (b) in the case of Term Loan Borrowings to be made on the Closing Date, not later than 12:00 p.m.11:00 a.m., New York City time, (1) one three Business Day Days before the date Closing Date or (ii) in the case of an ABR Borrowing, not later than 9:00 a.m., New York City time, on the proposed BorrowingClosing Date. Each The Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Borrowing aggregate amount of Revolving Loans or Term Loansthe Borrowing;
(b) the aggregate amount date of such the Borrowing, which shall be the Closing Date (and a Business Day);
(c) whether the date of such Borrowing, which shall be a Business Day;
(d) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(ed) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “"Interest Period”";
(fe) the location and number of the Borrower's account to which funds are to be disbursed, which shall comply with the requirements of Section 2.02(c); and
(gf) with respect to each Credit Extension made after the Closing Date, that the conditions set forth in Section 4.02(bSections 4.01(r)-(s) and Section 4.02(c) will be have been satisfied or waived as of the date of the requested Borrowing is madenotice. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a an ABR Borrowing. If no Interest Period is specified with respect to any requested Eurodollar Borrowing with Borrowing, then Borrower shall be deemed to have selected an Interest Period of one month’s duration. If the Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will be deemed to have specified an Interest Period of one month’s 's duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s 's Loan to be made as part of the requested Borrowing.
Appears in 2 contracts
Sources: Second Lien Credit Agreement (Regency Energy Partners LP), Second Lien Credit Agreement (Regency Energy Partners LP)
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the Borrower shall deliver, by hand delivery, email through a “pdf” copy or facsimile transmission (or transmit by other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agent), a duly completed and executed Borrowing Request to the Administrative Agent (ai) in the case of a Revolving Eurodollar Borrowing, not later than 12:00 12:30 p.m., New York City time time, on the third Business Day before the date of the proposed Borrowing (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent), three (3) Business Days before in the date case of the proposed any Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or the Issuing Bank, in the case of any issuance, amendment, extension or renewal of a Letter of Credit) or (bii) in the case of Term Loan Borrowings to be made on the Closing Datean ABR Borrowing, not later than 12:00 12:30 p.m., New York City time, on the Business Day of the proposed Borrowing (provided that such notice shall be delivered not later than 12:30 p.m., New York City time, one (1) one Business Day before prior to the date Closing Date in the case of the proposed BorrowingCredit Extensions on the Closing Date). Each Borrowing Request shall be irrevocable (provided that a Borrowing Request in respect of the Credit Extensions on the Closing Date, or in connection with any Permitted Acquisition or other transaction permitted under this Agreement, may, subject to Section 2.13, be conditioned on the closing of the Acquisition or such Permitted Acquisition or other transaction, as applicable, to the extent revocation of such notice is received by written notice to the Administrative Agent no later than 12:30 p.m., New York City time on the date of such proposed Borrowing) and shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Borrowing of Revolving Loans or Term LoansLoans (specifying the Class thereof);
(b) the aggregate amount of such Borrowing;
(c) the currency in which such Loans are to be denominated (limited to Dollars or, other than in the case of any Loan requested under the US Dollar Revolving Commitments, an Alternative Currency);
(d) the date of such Borrowing, which shall be a Business Day;
(de) other than in the case of Loans in any Alternative Currency (which shall be in the form of a Eurodollar Borrowing), whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(ef) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
(fg) the location and number of the Borrower’s account to which funds are to be disbursed; and
(gh) with respect to each Credit Extension made after the Closing Date, that the conditions set forth in Section 4.02(b) and Section 4.02(c(c) will be are satisfied or waived as of the date of such Borrowing, after giving effect thereto, except in the requested case of a Borrowing is mademade on the Closing Date. If no election as to the Type of Borrowing is specified, then (i) in the case of any Borrowing in Dollars, the requested Borrowing shall be an ABR Borrowing and (ii) in the case of any Borrowing in any Alternative Currency, the requested Borrowing shall be a Eurodollar Borrowing with an Interest Period of one month’s duration. If the no Interest Period is specified with respect to any requested Eurodollar Borrowing, then Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will shall be deemed to have specified selected an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03, the Administrative Agent shall advise each Lender of the applicable Class of the details thereof and of the pro rata amount and currency of such Lender’s Loan to be made as part of the requested Borrowing.
Appears in 2 contracts
Sources: First Lien Credit Agreement (SolarWinds Corp), First Lien Credit Agreement (SolarWinds Corp)
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the Borrower shall delivernotify the Administrative Agent by delivering, by facsimile hand delivery or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agenttelecopier, a duly completed and executed Borrowing Request to the Administrative Agent (ai) in the case of a Revolving BorrowingBorrowing comprised of Eurodollar Loans, not later than 12:00 p.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent), three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (b) in the case of Term Loan Borrowings to be made on the Closing Date, not later than 12:00 p.m.11:00 a.m., New York City time, (1) one three Business Day before Days prior to the requested date of the proposed BorrowingBorrowing or (ii) in the case of a Borrowing comprised of ABR Loans, not later than 10:00 a.m., New York City time, on the requested date of the proposed borrowing. Each Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Borrowing aggregate amount of such Revolving Loans or Term LoansBorrowing;
(b) the aggregate amount of such Borrowing;
(c) the requested date of such Revolving Borrowing, which shall be a Business Day;
(dc) whether such Revolving Borrowing is to be an for ABR Borrowing Loans or a Eurodollar BorrowingLoans;
(ed) in the case of a Eurodollar BorrowingLoans, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
(fe) the location and number of the Borrower’s account to which funds are to be disbursed, which shall comply with the requirements of Section 2.02(c); and
(gf) with respect to each Credit Extension made after the Closing Date, that the conditions set forth in Section 4.02(bSections 4.02(b)-(d) and Section 4.02(c) will be have been satisfied or waived as of the date of the requested Borrowing is madeRequest. If no election as to the Type of Borrowing Loans is specified, then the requested Revolving Borrowing shall be a deemed to be for Eurodollar Borrowing Loans with an Interest Period of one month’s duration. If the no Interest Period is specified with respect to any requested Eurodollar Loan, then Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will shall be deemed to have specified selected an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request Request, in accordance with this Section 2.03, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s pro rata portion of the Loan to be made as part of the requested Borrowing.
Appears in 2 contracts
Sources: Credit Agreement (Nabors Industries LTD), Credit Agreement (Nabors Industries LTD)
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowingon the Effective Date, the Borrower shall deliver, by facsimile or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agent, a duly completed and executed Borrowing Request to notify the Administrative Agent (a) in the case of a Revolving Borrowing, such request by telephone not later than 12:00 p.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent), three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (b) in the case of Term Loan Borrowings to be made on the Closing Date, not later than 12:00 p.m.10:30 a.m., New York City time, (1) one Business Day before on the date of the proposed BorrowingEffective Date. Each Such telephonic Borrowing Request shall be irrevocable and shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written Borrowing Request signed by the Borrower. Such telephonic and written Borrowing Request shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Borrowing of Revolving Loans or Term Loans;
(bi) the aggregate amount of such the requested Borrowing;
(cii) the date of such Borrowingproposed Effective Date, which shall be a Business Day;
(diii) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(eiv) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;; and
(fv) the location and number of the Borrower’s account to which funds are to be disbursed; and
(g) , which shall comply with respect to each Credit Extension made after the Closing Date, that the conditions set forth in requirements of Section 4.02(b) and Section 4.02(c) will be satisfied or waived as of the date the requested Borrowing is made2.04. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar Borrowing with an ABR Borrowing. If no Interest Period of one month’s duration. If is specified with respect to any requested Eurodollar Borrowing, then the Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will shall be deemed to have specified selected an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.
Appears in 2 contracts
Sources: Third Lien Credit Agreement (Goodyear Tire & Rubber Co /Oh/), Second Lien Credit Agreement (Goodyear Tire & Rubber Co /Oh/)
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the Borrower Borrowers shall deliver, by facsimile or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agent, a duly completed and executed Borrowing Request to notify the Administrative Agent of such request by telephone (apromptly confirmed by telecopy) (i) in the case of a Revolving Eurodollar Borrowing, not later than 12:00 p.m.11:00 a.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent)time, three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (bii) in the case of Term Loan Borrowings to be made on the Closing Datean ABR Borrowing, (other than Swingline Loans), not later than 12:00 p.m.11:00 a.m., New York City time, (1) one on the Business Day before the date of the proposed Borrowing. Each such telephonic Borrowing Request shall be irrevocable and shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written Borrowing Request in a form approved by the Administrative Agent and signed by Borrowers. Each such telephonic and written Borrowing Request shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Borrowing of Revolving Loans or Term Loans;
(b) the aggregate amount of such Borrowing;
(cb) the date of such Borrowing, which shall be a Business Day;
(dc) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(ed) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”; provided that until the earlier of (i) the date on which the Administrative Agent shall have notified Borrowers that the primary syndication of the Commitments has been completed and (ii) the date which is 180 days after the Closing Date, the Interest Period shall be seven days;
(fe) the location and number of the applicable Borrower’s account to which funds are to be disbursed, which shall comply with the requirements of Section 2.02; and
(gf) with respect to each Credit Extension made after the Closing Date, that the conditions set forth in Section 4.02(b4.02 (b)-(e) and Section 4.02(c) will be are satisfied or waived as of the date of the requested Borrowing is madenotice. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a an ABR Borrowing. If no Interest Period is specified with respect to any requested Eurodollar Borrowing with Revolving Borrowing, then Borrowers shall be deemed to have selected an Interest Period of one month’s duration. If duration (subject to the Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will be deemed to have specified an Interest Period of one month’s durationproviso in clause (d) above). Promptly following receipt of a Borrowing Request in accordance with this Section 2.03, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.
Appears in 2 contracts
Sources: Credit Agreement (Bearingpoint Inc), Credit Agreement (Bearingpoint Inc)
Borrowing Procedure. To request a Revolving Borrowing or Term Loan BorrowingSwingline Loan, the Company or any other Borrower requesting such Swingline Loan shall deliver, by facsimile or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agent, a duly completed and executed Borrowing Request to notify the Administrative Agent and the Swingline Lender of such request by written notice (aincluding by email), not later than (i) in the case of a Revolving Borrowingrequest for a Swingline Loan denominated in Dollars, not later than 12:00 2:00 p.m., (New York City time time) on the day of a proposed Swingline Loan and (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent), three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (bii) in the case of Term a request for a Swingline Loan Borrowings to be made on the Closing Datedenominated in Euros, not later than 12:00 p.m.8:00 a.m., (New York City time, (1) one Business Day before on the date day of the a proposed BorrowingSwingline Loan. Each Borrowing Request such notice shall be irrevocable and shall specify the following information in compliance with Section 2.02:
(a) whether applicable Borrower of, the requested Borrowing is to be a Borrowing of Revolving Loans or Term Loans;
(b) the aggregate amount of such Borrowing;
(c) the date of such Borrowing, (which shall be a Business Day;
), and the amount and currency of the requested Swingline Loan. The Administrative Agent will promptly advise the Swingline Lender of any such notice received from such Borrower. The Swingline Lender shall make each Swingline Loan available to the applicable Borrower by means of a credit to the general deposit account of such Borrower with the Swingline Lender or by wire transfer, automated clearinghouse debit or interbank transfer to such other account, accounts or Persons designated by such Borrower in the applicable request (dor, in the case of a Swingline Loan made to finance the reimbursement of an LC Disbursement as provided in Section 2.04(d), by remittance to the applicable Issuing Bank) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(ei) in the case of a Eurodollar BorrowingSwingline Loan denominated in Dollars, by 3:00 p.m., (New York City time), on the initial Interest Period to be applicable theretorequested date of such Swingline Loan and (ii) in the case of a Swingline Loan denominated in Euros (x) that is requested on a same-day basis, immediately following the request therefor or (y) that is requested for any day following the day on which shall be a period contemplated by the definition of the term “Interest Period”;
(f) the location and number of the account to which funds are to be disbursed; and
(g) Borrowing Notice with respect to each Credit Extension made after such Swingline Loan was submitted by the Closing Dateapplicable Borrower, that the conditions set forth in Section 4.02(b) and Section 4.02(c) will be satisfied or waived as of the date early as practicable on the requested Borrowing is made. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar Borrowing with an Interest Period of one month’s duration. If the Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will be deemed to have specified an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03, the Administrative Agent shall advise each Lender of the details thereof and of the amount date of such Lender’s Loan to be made as part of the requested BorrowingSwingline Loan.
Appears in 2 contracts
Sources: Credit Agreement (Becton Dickinson & Co), Credit Agreement (Becton Dickinson & Co)
Borrowing Procedure. To In order to request a Revolving Term Loan Borrowing or Term Loan a Revolving Credit Borrowing, the Borrower shall deliver, by facsimile or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agent, a duly completed and executed Borrowing Request to notify the Administrative Agent (a) in the case of a Revolving Borrowing, such request by telephone not later than 12:00 p.m., New York City time time, three Business Days (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent), three (3) U.S. Government Securities Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (b) in the case of Term Loan Borrowings to SOFR Borrowings) before a proposed Borrowing of Eurodollar Loans or SOFR Loans (or such shorter period as may be made on agreed by the Closing Date, not Administrative Agent) and no later than 12:00 p.m., New York City time, (1) one on the Business Day (or U.S. Government Securities Business Day in the case of an ABR Borrowing of Revolving Credit Loans) before the date of a proposed Borrowing in the proposed Borrowingcase of a Borrowing of ABR Loans. Each such telephonic Borrowing Request shall be irrevocable irrevocable, and shall be confirmed promptly by hand delivery, e-mail or fax to the Administrative Agent of a written Borrowing Request and shall specify the following information in compliance with Section 2.02:
information: (a) whether the Borrowing then being requested Borrowing is to be a Borrowing of Term Loans, Revolving Credit Loans, Incremental Term Loans or Term Loans;
Incremental Revolving Credit Loans (provided that, the Borrower shall not be permitted to request a Eurodollar Borrowing with an Interest Period in excess of one month until the earlier of (x) the date the Administrative Agent shall have notified the Borrower that the primary syndication of the Loans has been completed (which notice shall be given as promptly as practicable) and (y) the date that is 30 days after the Closing Date); provided, however, that the initial Interest Period of any Eurodollar Borrowing made on the Funding Date shall commence on the Funding Date and end on a date reasonably satisfactory to the Administrative Agent specified by the Borrower in such Borrowing Request; (b) the aggregate amount of such Borrowing;
(c) the date of such Borrowing, Borrowing (which shall be a Business Day;
); (d) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(e) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
(fc) the number and location and number of the account to which funds are to be disbursed; (d) the amount of such Borrowing (stated in the Available Currency); and (e) whether the Loans being made pursuant to such Borrowings are to be initially maintained as ABR Loans or, Eurodollar Loans or SOFR Loans and
(g) , if Eurodollar Loans or SOFR Loans, the Interest Period with respect to thereto; provided, however, that, notwithstanding any contrary specification in any Borrowing Request, each Credit Extension made after requested Borrowing shall comply with the Closing Date, that the conditions requirements set forth in Section 4.02(b) and Section 4.02(c) will be satisfied or waived as of the date the requested Borrowing is made2.02. If no election as Interest Period with respect to the Type of any Eurodollar Borrowing or SOFR Borrowing is specifiedspecified in any such notice, then the requested Borrowing Borrower shall be a Eurodollar Borrowing with deemed to have selected an Interest Period of one month’s duration. If the Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will be deemed to have specified an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03, the The Administrative Agent shall promptly advise each Lender the applicable Lenders of any notice given pursuant to this Section 2.03 (and the details thereof contents thereof), and of the amount of such each Lender’s Loan to be made as part portion of the requested Borrowing.
Appears in 2 contracts
Sources: Credit Agreement (Altice USA, Inc.), Credit Agreement (Altice USA, Inc.)
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the Borrower shall deliver, by facsimile hand delivery or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agenttelecopier, a duly completed and executed Borrowing Request to the Administrative Agent (ai) in the case of a Revolving LIBOR Borrowing, not later than 12:00 p.m.11:00 a.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent)time, three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (bii) in the case of Term Loan Borrowings to be made on the Closing Datean ABR Borrowing, not later than 12:00 p.m.11:00 a.m., New York City time, (1) one Business Day before on the date of the proposed Borrowing. Each Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Borrowing of Revolving Loans or Additional Term Loans;
(b) the aggregate amount of such Borrowing;
(c) the date of such Borrowing, which shall be a Business Day;
(d) whether such Borrowing is to be an ABR Borrowing or a Eurodollar LIBOR Borrowing;
(e) in the case of a Eurodollar LIBOR Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
(f) the location and number of the Borrower’s account to which funds are to be disbursed, which shall comply with the requirements of Section 2.02(c); and
(g) with respect to each Credit Extension made after the Closing Date, that the conditions set forth in Section 4.02(bSections 4.02(b)-(d) and Section 4.02(c) will be have been satisfied or waived as of the date of the requested Borrowing is madenotice. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar Borrowing with an ABR Borrowing. If no Interest Period of one month’s duration. If the is specified with respect to any requested LIBOR Borrowing, then Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will shall be deemed to have specified selected an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.
Appears in 2 contracts
Sources: Credit Agreement (Navisite Inc), Credit Agreement (Navisite Inc)
Borrowing Procedure. To request a Revolving the Borrowing or Term Loan Borrowingon the Closing Date, the Borrower shall deliver, by facsimile or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agent, a duly completed and executed Borrowing Request to the Administrative Agent (a) in the case of a Revolving Borrowing, not later than 12:00 p.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent), three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (b) in the case of Term Loan Borrowings to be made on the Closing Date, not later than 12:00 p.m., New York City time, (1) one Business Day before the date of the proposed Borrowing. Each Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Borrowing of Revolving Loans or Term Loans;
(b) the aggregate amount of such Borrowing;
(cb) the date of such Borrowing, which shall be a Business Day;
(dc) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(ed) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;; and
(fe) the location and number of the account to which funds are to be disbursed; and
(g) with respect to each Credit Extension made after the Closing Date, that the conditions set forth in Section 4.02(b) and Section 4.02(c) will be satisfied or waived as of the date the requested Borrowing is made. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar Borrowing with an Interest Period of one month’s duration. If the Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will be deemed to have specified an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.
Appears in 2 contracts
Sources: Credit Agreement (Par Technology Corp), Credit Agreement (2U, Inc.)
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the applicable Borrower shall deliver, by facsimile hand delivery or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agenttelecopy, a duly completed and executed Borrowing Request to the Administrative Agent (ai) in the case of a Revolving Eurodollar Borrowing, not later than 12:00 p.m.11:00 a.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent)time, three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (bii) in the case of Term Loan Borrowings to be made on the Closing Datean ABR Borrowing, not later than 12:00 p.m.10:00 a.m., New York City time, (1) one Business Day before on the date of the proposed Borrowing. Each Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Borrowing of Revolving Loans, U.S. Term Loans or Canadian Term Loans;
(b) the aggregate amount of such Borrowing;
(c) the date of such Borrowing, which shall be a Business Day;
(d) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(e) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”; provided that until the earlier of (x) the date on which the Syndication Agent shall have notified U.S. Borrower that a Successful Syndication has been achieved and (y) 60 days after the Third Amendment Effectiveness Date, the Interest Period for any Term Loans shall be seven days;
(f) the location and number of the applicable Borrower’s account to which funds are to be disbursed, which shall comply with the requirements of Section 2.02(c); and
(g) with respect to each Credit Extension made after the Closing Date, that the conditions set forth in Section Sections 4.02(b) and Section 4.02(cthrough (d) will be have been satisfied or waived as of the date of the requested Borrowing is madenotice. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a an ABR Borrowing. If no Interest Period is specified with respect to any requested Eurodollar Borrowing with Revolving Borrowing, then the applicable Borrower shall be deemed to have selected an Interest Period of one month’s duration. If duration (subject to the Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will be deemed to have specified an Interest Period of one month’s durationproviso in clause (e) above). Promptly following receipt of a Borrowing Request in accordance with this Section 2.03Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.
Appears in 2 contracts
Sources: Credit Agreement (Ply Gem Holdings Inc), Credit Agreement (Ply Gem Holdings Inc)
Borrowing Procedure. To In order to request a Revolving Term Loan Borrowing or Term Loan a Revolving Credit Borrowing, the Borrower shall deliver, by facsimile or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agent, a duly completed and executed Borrowing Request to notify the Administrative Agent (a) in the case of a Revolving Borrowing, such request by telephone not later than 12:00 p.m., New York City time time, three Business Days (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent), three (3) U.S. Government Securities Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (b) in the case of Term Loan Borrowings to SOFR Borrowings) before a proposed Borrowing of Eurodollar Loans or SOFR Loans (or such shorter period as may be made on agreed by the Closing Date, not Administrative Agent) and no later than 12:00 p.m., New York City time, (1) one on the Business Day (or U.S. Government Securities Business Day in the case of an ABR Borrowing of Revolving Credit Loans) before the date of a proposed Borrowing in the proposed Borrowingcase of a Borrowing of ABR Loans. Each such telephonic Borrowing Request shall be irrevocable irrevocable, and shall be confirmed promptly by hand delivery, e-mail or fax to the Administrative Agent of a written Borrowing Request and shall specify the following information in compliance with Section 2.02:
information: (a) whether the Borrowing then being requested Borrowing is to be a Borrowing of Term Loans, Revolving Credit Loans, Incremental Term Loans or Term Loans;
Incremental Revolving Credit Loans (provided that, the Borrower shall not be permitted to request a Eurodollar Borrowing with an Interest Period in excess of one month until the earlier of (x) the date the Administrative Agent shall have notified the Borrower that the primary syndication of the Loans has been completed (which notice shall be given as promptly as practicable) and (y) the date that is 30 days after the Closing Date); provided, however, that the initial Interest Period of any Eurodollar Borrowing made on the Funding Date shall commence on the Funding Date and end on a date reasonably satisfactory to the Administrative Agent specified by the Borrower in such Borrowing Request; (b) the aggregate amount of such Borrowing;
(c) the date of such Borrowing, Borrowing (which shall be a Business Day;
); (d) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(e) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
(fc) the number and location and number of the account to which funds are to be disbursed; (d) the amount of such Borrowing (stated in the Available Currency); and (e) whether the Loans being made pursuant to such Borrowings are to be initially maintained as ABR Loans, Eurodollar Loans or SOFR Loans and
(g) , if Eurodollar Loans or SOFR Loans, the Interest Period with respect to thereto; provided, however, that, notwithstanding any contrary specification in any Borrowing Request, each Credit Extension made after requested Borrowing shall comply with the Closing Date, that the conditions requirements set forth in Section 4.02(b) and Section 4.02(c) will be satisfied or waived as of the date the requested Borrowing is made2.02. If no election as Interest Period with respect to the Type of any Eurodollar Borrowing or SOFR Borrowing is specifiedspecified in any such notice, then the requested Borrowing Borrower shall be a Eurodollar Borrowing with deemed to have selected an Interest Period of one month’s duration. If the Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will be deemed to have specified an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03, the The Administrative Agent shall promptly advise each Lender the applicable Lenders of any notice given pursuant to this Section 2.03 (and the details thereof contents thereof), and of the amount of such each Lender’s Loan to be made as part portion of the requested Borrowing.
Appears in 1 contract
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the Borrower shall deliver, by facsimile hand delivery or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agenttelecopier, a duly completed and executed Borrowing Request to the Administrative Agent (ai) in the case of a Revolving Eurodollar Borrowing, not later than 12:00 p.m.11:00 a.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent)time, three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (bii) in the case of Term Loan Borrowings to be made on the Closing Datean ABR Borrowing, not later than 12:00 p.m.9:00 a.m., New York City time, (1) one Business Day before the date of the proposed Borrowing. Each Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Borrowing of Revolving Loans or Term Loans;
(b) the aggregate amount of such Borrowing, which shall equal the aggregate amount of the Commitments;
(cb) the date of such Borrowing, which shall be a Business Day;
(dc) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(ed) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
(fe) the location and number of the Borrower’s account to which funds are to be disbursed; and
(gf) with respect to each Credit Extension made after the Closing Date, that the conditions set forth in Section 4.02(b4.0l(t) and Section 4.02(c(u) will be have been satisfied or waived as of the date of the requested Borrowing is madenotice. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar Borrowing with an ABR Borrowing. If no Interest Period of one month’s duration. If the is specified with respect to any requested Eurodollar Borrowing, then Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will shall be deemed to have specified selected an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Sources: Second Lien Credit Agreement (Thompson Creek Metals CO Inc.)
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the Borrower shall deliver, by hand delivery, facsimile or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agent, a duly completed and executed Borrowing Request to the Administrative Agent (ai) in the case of a Revolving Eurodollar Borrowing, not later than 12:00 2:00 p.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent), three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month(or, or (b) in the case of Eurodollar Borrowings that are Term Loan Borrowings to be made on the Closing Date, not later than 12:00 p.m., New York City time, (1) one Business Day Days before the date of the proposed Borrowing) or (ii) in the case of an ABR Borrowing, (x) not later than 12:00 noon., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent), on the Business Day prior to the proposed Borrowing or (y) solely in connection with a request for any Revolving Borrowing which constitutes an ABR Borrowing (in an aggregate principal amount of all such Revolving Borrowings which constitute ABR Borrowings outstanding at any time not to exceed $25,000,000), not later than 1:00 p.m., New York City time on the same Business Day as the proposed Borrowing. Each Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Borrowing of Revolving Loans or Term Loans;
(b) the aggregate amount of such Borrowing;
(c) the date of such Borrowing, which shall be a Business Day;
(d) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(e) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
(f) the location and number of the account to which funds are to be disbursed; and
(g) with respect to each Credit Extension made after the Closing DateExtension, that the conditions set forth in Section 4.02(b) and Section 4.02(c) will be satisfied or waived as of the date the requested Borrowing is made. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar Borrowing with an Interest Period of one month’s duration. If the Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will be deemed to have specified an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the Borrower shall deliver, by facsimile hand delivery or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agenttelecopy, a duly completed and executed Borrowing Request to the Administrative Agent (ai) in the case of a Revolving Eurodollar Borrowing, not later than 12:00 p.m.11:00 a.m., New York City time (or such later time time, on such the third Business Day as may be reasonably acceptable to the Administrative Agent), three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (bii) in the case of Term Loan Borrowings to be made on the Closing Datean ABR Borrowing, not later than 12:00 p.m.9:00 a.m., New York City time, (1) one Business Day before on the date of the proposed Borrowing. Each Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Borrowing of Revolving Loans or Term Loans;
(b) the aggregate amount of such Borrowing;
(c) the date of such Borrowing, which shall be a Business Day;
(d) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(e) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
(f) the location and number of the Borrower’s account to which funds are to be disbursed, which shall comply with the requirements of Section 2.02(c); and
(g) with respect to each Credit Extension made after the Closing Date, that the conditions set forth in Section Sections 4.02(b) and Section 4.02(c– (d) will be are satisfied or waived as of the date of the requested Borrowing is madenotice. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a an ABR Borrowing. If no Interest Period is specified with respect to any requested Eurodollar Borrowing with Revolving Borrowing, then Borrower shall be deemed to have selected an Interest Period of one month’s duration. If Notwithstanding anything to the Borrower requests a contrary, no Eurodollar Borrowing but fails Borrowings may be requested or made prior to specify an Interest Period, 3 Business Days after the Borrower will be deemed to have specified an Interest Period of one month’s durationClosing Date. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Sources: First Lien Credit Agreement (Critical Homecare Solutions Holdings, Inc.)
Borrowing Procedure. To request a Revolving Borrowing or Incremental Term Loan Borrowing, the Borrower shall deliver, by facsimile hand delivery or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agenttelecopier, a duly completed and executed Borrowing Request to the Administrative Agent (ai) in the case of a Revolving Eurodollar Borrowing, not later than 12:00 p.m.11:00 a.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent)time, three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (bii) in the case of Term Loan Borrowings to be made on the Closing Datean ABR Borrowing, not later than 12:00 p.m.9:00 a.m., New York City time, (1) one Business Day before on the date of the proposed Borrowing. Each Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Borrowing of Revolving Loans or Incremental Term Loans;
(b) the aggregate amount of such Borrowing;
(c) the date of such Borrowing, which shall be a Business Day;
(d) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(e) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
(f) the location and number of the Borrower’s account to which funds are to be disbursed, which shall comply with the requirements of Section 2.02(c); and
(g) with respect to each Credit Extension made after the Closing Date, that the conditions set forth in Section 4.02(bSections 4.02(b)-(c) and Section 4.02(c) will be have been satisfied or waived as of the date of the requested Borrowing is madenotice. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar Borrowing with an ABR Borrowing. If no Interest Period of one month’s duration. If the is specified with respect to any requested Eurodollar Borrowing, then Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will shall be deemed to have specified selected an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the Borrower shall deliver, by facsimile or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agent, a duly completed and executed Borrowing Request to notify the Administrative Agent of such request by telephone (apromptly confirmed by telecopy) (i) in the case of a Revolving Eurodollar Borrowing, not later than 12:00 p.m.11:00 a.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent)time, three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (bii) in the case of Term Loan Borrowings to be made on the Closing Datean ABR Borrowing (other than Swingline Loans), not later than 12:00 p.m.10:00 a.m., New York City time, (1) one on the Business Day before the date of the proposed Borrowing. Each such telephonic Borrowing Request shall be irrevocable and shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written Borrowing Request in a form approved by the Administrative Agent and signed by Borrower. Each such telephonic and written Borrowing Request shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Borrowing of Revolving Loans or Term LoansBorrowing;
(b) the aggregate amount of such Borrowing;
(c) the date of such Borrowing, which shall be a Business Day;
(d) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(e) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”; provided, that until the earlier of (i) the date on which the Administrative Agent shall have notified Borrower that the primary syndication of the Commitments has been completed and (ii) the date which is 60 days after the Closing Date, the Interest Period shall be two weeks;
(f) the location and number of the Borrower’s account to which funds are to be disbursed, which shall comply with the requirements of Section 2.02; and
(g) with respect to each Credit Extension made after the Closing Date, that the conditions set forth in Section 4.02(b4.02 (b) and Section 4.02(c(c) will be are satisfied or waived as of the date of the requested Borrowing is madenotice. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a an ABR Borrowing. If no Interest Period is specified with respect to any requested Eurodollar Borrowing with Borrowing, then Borrower shall be deemed to have selected an Interest Period of one month’s duration. If duration (subject to the Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will be deemed to have specified an Interest Period of one month’s durationproviso in clause (e) above). Promptly following receipt of a Borrowing Request in accordance with this Section 2.03, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the Borrower shall deliver, by facsimile or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agent, a duly completed and executed Borrowing Request to notify the Administrative Agent of such request by telephone (aconfirmed by telecopy or e-mail no later than one Business Day following such request) (i) in the case of a Eurodollar Revolving Borrowing, not later than 12:00 1:00 p.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent)time, three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (b) in the case of Term Loan Borrowings to be made on the Closing Date, an ABR Borrowing (other than Swingline Loans) not later than 12:00 1:00 p.m., New York City time, (1) one on the Business Day before the date of the proposed Borrowing. Each such telephonic Borrowing Request shall be irrevocable and shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written Borrowing Request in a form approved by the Administrative Agent and signed by Borrower. Each such telephonic and written Borrowing Request shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Revolving Borrowing of Revolving Loans or Term Loansa Swingline Loan;
(b) the aggregate amount of such Borrowing;
(c) the date of such Borrowing, which shall be a Business Day;
(d) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Revolving Borrowing;
(e) in the case of a Eurodollar Revolving Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”; provided, that until the earlier of (i) the date on which the Administrative Agent shall have notified Borrower that the primary syndication of the Commitments has been completed and (ii) the date which is 180 days after the Original Closing Date, the Interest Period shall be one month;
(f) the location and number of the Borrower’s account to which funds are to be disbursed, which shall comply with the requirements of Section 2.02; and
(g) with respect to each Credit Extension made after the Closing Date, that the conditions set forth in Section 4.02(b4.02 (b)-(e) and Section 4.02(c) will be are satisfied or waived as of the date of the requested Borrowing is madenotice. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a an ABR Borrowing. If no Interest Period is specified with respect to any requested Eurodollar Borrowing with Revolving Borrowing, then Borrower shall be deemed to have selected an Interest Period of one month’s duration. If duration (subject to the Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will be deemed to have specified an Interest Period of one month’s durationproviso in clause (e) above). Promptly following receipt of a Borrowing Request in accordance with this Section 2.03, the Administrative Agent shall notify Collateral Agent of the borrowing Request, confirm with Collateral Agent that the funding of such Borrowing Request is in conformity with this Section 2.03 and advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Borrowing Procedure. To request In order to effect a Revolving Borrowing or Term Loan Borrowing, the Borrower shall deliver, hand deliver or telecopy (or transmit by facsimile or other electronic transmission if arrangements for doing so have been communications pursuant to procedures approved in writing (including via email) by the Administrative Agent, a duly completed and executed Borrowing Request ) to the Administrative Agent a Borrowing Request (a) in the case of a Revolving LIBOR Borrowing, not later than 12:00 p.m.11:00 a.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent)time, three (3) Business Working Days before the date of the a proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or and (b) in the case of Term Loan Borrowings to be made on the Closing Datean ABR Borrowing, not later than 12:00 p.m.11:00 a.m., New York City time, (1) one Business Day before on the date day of the a proposed Borrowing. Each Borrowing Request Such notice shall be irrevocable and shall in each case specify the following information in compliance with Section 2.02:
(aA) whether the Borrowing is under the Tranche A Facility or the Tranche B Facility, (B) whether the Borrowing then being requested is to be a LIBOR Borrowing or an ABR Borrowing, (C) the date of such Borrowing (which shall be a Working Day) and the amount thereof and (D) if such Borrowing is to be a Borrowing of Revolving Loans or Term Loans;
(b) the aggregate amount of such Borrowing;
(c) the date of such Borrowing, which shall be a Business Day;
(d) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(e) in the case of a Eurodollar LIBOR Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
(f) the location and number of the account to which funds are to be disbursed; and
(g) with respect to each Credit Extension thereto. No Borrowing may be made after under the Closing Date, that Tranche B Facility if there is unused available Borrowing capacity under the conditions set forth in Section 4.02(b) and Section 4.02(c) will be satisfied or waived as of the date the requested Borrowing is madeTranche A Facility. If no election as to the Interest Rate Type of a Borrowing is specifiedspecified in any such Borrowing Request, then the requested Borrowing shall be a Eurodollar an ABR Borrowing. If no Interest Period with respect to any LIBOR Borrowing with is specified in any such Borrowing Request, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. If the Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will be deemed to shall not have specified an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request given notice in accordance with this Section 2.032.5 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 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. The Administrative Agent shall promptly advise each Lender the applicable Lenders of the details thereof any notice given pursuant to this Section 2.5 and of the amount of each such Lender’s Loan to be made as part portion of the requested Borrowing.
Appears in 1 contract
Sources: Credit Agreement (PHH Corp)
Borrowing Procedure. To In order to request a Revolving Borrowing or Term Loan Borrowing(other than a Swingline Loan, the as to which this Section 2.03 shall not apply), a Borrower shall deliver, by facsimile hand deliver or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agent, a duly completed and executed Borrowing Request telecopy to the Administrative Agent a duly completed Borrowing Request in the form of Exhibit A (a) in the case of an Alternative Currency Borrowing and in the case of a Revolving LIBOR Borrowing, not later than 12:00 p.m.11:00 a.m., New York City time (or, if the Borrowing Request is delivered or such later time on such Business Day as may be reasonably acceptable telecopied to the Administrative AgentAgent in London, 1:00 p.m., London time), three (3) Business Days before the date of the a proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or and (b) in the case of Term Loan an ABR Borrowing denominated in Dollars, not later than 12:00 noon, New York City time, one Business Day before a proposed Borrowing; provided, however, that Borrowing Requests with respect to Borrowings to be made on the Closing DateEffective Date may, not at the discretion of the Administrative Agent, be delivered later than 12:00 p.m., New York City time, (1) one Business Day before the date of the proposed Borrowingtimes specified above. Each Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Borrowing of Revolving Loans or Term Loans;
(bi) the aggregate amount Borrower requesting such Borrowing (and be signed by or on behalf of such Borrowing;
Borrower); (c) the date of such Borrowing, which shall be a Business Day;
(dii) whether such Borrowing is to be an ABR a Periodic Access Borrowing, a U.S. $ Revolving Credit Borrowing or a Eurodollar Multi-Currency Revolving Credit Borrowing;
; (eiii) in whether the case of a Eurodollar Borrowing, the initial Interest Period Borrowing then being requested is to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
LIBOR Borrowing or an ABR Borrowing; (fiv) the number and location and number of the account to which funds are to be disburseddisbursed (which shall be an account that complies with the requirements of Section 2.02(c) and, in the case of a Borrowing denominated in Dollars, shall be at an office of the Administrative Agent in New York City or London); (v) the date of such Borrowing (which shall be a Business Day and
(g) with respect , in the case of a Periodic Access Borrowing to each Credit Extension be made after the Closing Effective Date, that shall be within a Periodic Access Availability Period); (vi) the conditions amount of such Borrowing (which shall be expressed in Dollars, regardless of whether such Borrowing is an Alternative Currency Borrowing); (vii) the currency of such Borrowing (which shall be Dollars, in the case of any U.S. $ Revolving Credit Borrowing or ABR Borrowing, and otherwise shall be Dollars or an Alternative Currency); and (viii) if such Borrowing is to be a LIBOR Borrowing, the Interest Period with respect thereto; provided, however, that, notwithstanding any contrary specification in any Borrowing Request, each requested Borrowing shall comply with the requirements set forth in Section 4.02(b) and Section 4.02(c) will be satisfied or waived 2.02. If no election as to the currency of the date Borrowing is specified in any such notice, then the requested Borrowing is madeshall be denominated in Dollars. If no election as to the Type of Borrowing is specifiedspecified in any such notice, then the requested Borrowing shall be an ABR Borrowing if denominated in Dollars or a Eurodollar LIBOR Borrowing if denominated in an Alternative Currency. If no Interest Period with respect to any LIBOR Borrowing 43 38 is specified in any such notice, then the applicable 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 11:00 a.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), of each Lender's portion of the requested Borrowing and, in the case of an Alternative Currency Borrowing, of the Alternative Currency amount of such Borrowing and the Spot Exchange Rate utilized to determine such amount. If a Borrower in respect of an outstanding Revolving Credit Borrowing 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 such Borrowing and requesting that such Borrowing be refinanced, then such Borrower shall (unless such Borrower has notified the Administrative Agent, not fewer 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 Revolving Credit Borrowing of equivalent amount in the same currency, and such new Borrowing shall be an ABR Borrowing if denominated in Dollars or a LIBOR Borrowing with an Interest Period of one month’s duration's duration if denominated in an Alternative Currency. If The sum of (a) the Borrower requests a Eurodollar Borrowing but fails to specify an Interest Periodaggregate principal amount of Borrowings by the EEIG Borrower, plus (b) the Borrower will be deemed to have specified an Interest Period Aggregate L/C Exposure under Letters of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03, Credit issued at the Administrative Agent shall advise each Lender request of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested BorrowingEEIG Borrower, at any one time outstanding, shall not exceed $575,000,000.
Appears in 1 contract
Borrowing Procedure. To request a Revolving Borrowing or Tranche B-1 Term Loan Borrowing, the Borrower shall deliver, by facsimile hand delivery or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agenttelecopier, a duly completed and executed Borrowing Request to the Administrative Agent (ai) in the case of a Revolving Eurodollar Borrowing, not later than 12:00 p.m.11:00 a.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent)time, three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (bii) in the case of Term Loan Borrowings to be made on the Closing Datean ABR Borrowing, not later than 12:00 p.m.9:00 a.m., New York City time, (1) one Business Day before on the date of the proposed Borrowing. Each Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Borrowing of Revolving Loans or Tranche B-1 Term Loans;
(b) the aggregate amount of such Borrowing;
(c) the date of such Borrowing, which shall be a Business Day;
(d) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(e) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
(f) the location and number of the Borrower’s account to which funds are to be disbursed, which shall comply with the requirements of Section 2.02(c); and
(g) with respect to each Credit Extension made after the Closing Date, that the conditions set forth in Section 4.02(bSections 4.02(b)-(c) and Section 4.02(c) will be have been satisfied or waived as of the date of the requested Borrowing is madenotice. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar Borrowing with an ABR Borrowing. If no Interest Period of one month’s duration. If the is specified with respect to any requested Eurodollar Borrowing, then Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will shall be deemed to have specified selected an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the Borrower shall deliver, by facsimile hand delivery or telecopy (or transmit by other electronic transmission transmission, if arrangements for doing so have been approved in writing (including via email) by the Administrative Agent), a duly completed and executed Borrowing Request to the Administrative Agent (ai) in the case of a Revolving Eurodollar Borrowing, not later than 12:00 p.m.11:00 a.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent)time, three (3) Business Days before the date of the proposed Borrowing; provided Borrowing (except that a Revolving Borrowing may not be requested more than twice per calendar month, or (b) in the case of Term Loan proposed Eurodollar Borrowings to be made on the Closing Date, such Borrowing Request may be delivered not later than 12:00 p.m.9:00 a.m., New York City time, on the Closing Date) or (1ii) one Business Day before in the case of an ABR Borrowing, not later than 9:00 a.m., New York City time, on the date of the proposed Borrowing. Each Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Borrowing of Revolving Loans or Term Loans;
(b) the aggregate amount of such Borrowing;
(c) the date of such Borrowing, which shall be a Business Day;
(d) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(e) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
(f) the location and number of the Borrower’s account to which funds are to be disbursed, which shall comply with the requirements of Section 2.02(c); and
(g) with respect to each Credit Extension made after the Closing Date, that the conditions set forth in Section 4.02(bSections 4.02(b)-(d) and Section 4.02(c) will be are satisfied or waived as of the date of the requested Borrowing is madenotice. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar Borrowing with an ABR Borrowing. If no Interest Period of one month’s duration. If the is specified with respect to any requested Eurodollar Revolving Borrowing, then Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will shall be deemed to have specified selected an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the Borrower shall deliver, by hand delivery or facsimile (or transmit by other electronic transmission transmission, if arrangements for doing so have been approved in writing (including via email) by the Administrative Agent), a duly completed and executed Borrowing Request for Credit Extension to the Administrative Agent (ai) in the case of a Revolving EurodollarTerm Benchmark Rate Borrowing, not later than 12:00 1:00 p.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent)time, three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month(or, in the case of the initial extension of credit on the Closing Date, one Business Day before) or (bii) in the case of Term Loan Borrowings to be made on the Closing Datean ABR Borrowing, not later than 12:00 1:00 p.m., New York City time, (1) one Business Day before on the date of the proposed Borrowing. Each Borrowing Request for Credit Extension for a Revolving Loan or a Term Loan shall be irrevocable and shall specify the following information in compliance with Section 2.02:
: (a) whether the requested Borrowing is to be a Borrowing of Revolving Loans or Term Loans;
; (b) the aggregate amount of such Borrowing;
; (c) the date of such Borrowing, which shall be a Business Day;
; (d) whether such Borrowing is to be an ABR Borrowing or a Eurodollar EurodollarTerm Benchmark Rate Borrowing;
; (e) in the case of a Eurodollar EurodollarTerm Benchmark Rate Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
; (f) the location and number of the Borrower’s account to which funds are to be disbursed; and
, which shall comply with the requirements of Section 2.02(c) and (g) with respect if and to each Credit Extension made after the Closing Dateextent required under Section 4.01, that the conditions set forth in Section 4.02(bclauses (a) and (b) of Section 4.02(c) will be 4.01 are satisfied or waived as of the date of the requested Borrowing is madenotice. If no election as to the Type of Borrowing is specifiedspecified in any such notice, then the requested Borrowing shall be a Eurodollar Borrowing with an ABR Borrowing. If no Interest Period of one month’s duration. If with respect to any requested EurodollarTerm Benchmark Rate Borrowing is specified in any such notice, then the Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will shall be deemed to have specified selected an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request for Credit Extension in accordance with this Section 2.03, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender▇▇▇▇▇▇’s Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the Borrower shall deliver, by hand delivery, facsimile or email (or by telephone confirmed promptly in writing by facsimile or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agent), a duly completed and executed Borrowing Request to the Administrative Agent (ai) in the case of a Revolving Eurodollar Borrowing, not later than 12:00 2:00 p.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent), three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month(or, or (b) in the case of Eurodollar Borrowings that are Term Loan Borrowings to be made on the Closing Date, not later than 12:00 p.m., New York City time, one (1) one Business Day before the date of the proposed Borrowing) or (ii) in the case of an ABR Borrowing, (x) not later than 12:00 noon, New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent), on the Business Day prior to the proposed Borrowing or (y), solely in connection with a request for any Revolving Borrowing which constitutes an ABR Borrowing (in an aggregate principal amount of all such Revolving Borrowings which constitute ABR Borrowings outstanding at any time not to exceed $10,000,000), not later than 1:00 p.m., New York City time on the same Business Day as the proposed Borrowing. Each Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Borrowing of Revolving Loans or Term Loans;
(b) the aggregate amount of such Borrowing;
(c) the date of such Borrowing, which shall be a Business Day;
(d) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(e) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
(f) the location and number of the account to which funds are to be disbursed; and
(g) with respect to each Credit Extension made after the Closing DateExtension, that the conditions set forth in Section 4.02(b) and Section 4.02(c) will be satisfied or waived as of the date the requested Borrowing is made. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar Borrowing with an Interest Period of one month’s duration. If the Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will be deemed to have specified an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing. The Borrowing Request in respect of any Loans on the Closing Date or in connection with any Permitted Acquisition or other permitted Investment, or any Incremental Facility, Extension Amendment or Credit Agreement Refinancing Indebtedness, in each case after the Closing Date, may be rescinded or revised by the Borrower to change the requested date for the making of the Loans contemplated thereby upon written notice to the Administrative Agent on or prior to 10:00 a.m. New York City time on the date of the proposed Borrowing (or such later time as the Administrative Agent may approve in its sole discretion).
Appears in 1 contract
Sources: First Lien Credit Agreement (Allvue Systems Holdings, Inc.)
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the Borrower shall deliver, by facsimile hand delivery or telecopy (or transmit by other electronic transmission transmission, if arrangements for doing so have been approved in writing (including via email) by the Administrative Agent), a duly completed and executed Borrowing Request to the Administrative Agent (ai) in the case of a Revolving Eurodollar Borrowing, not later than 12:00 p.m.11:00 a.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent)time, three (3) Business Days before the date of the proposed Borrowing; provided Borrowing (except that a Revolving Borrowing may not be requested more than twice per calendar month, or (b) in the case of Term Loan proposed Eurodollar Borrowings to be made on the Closing Date, such Borrowing Request may be delivered not later than 12:00 3:00 p.m., New York City time, (1) one on the Business Day before prior to the Closing Date) or (ii) in the case of an ABR Borrowing, not later than 9:00 a.m., New York City time, on the date of the proposed Borrowing. Each Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Borrowing of Revolving Loans or Term Loans;
(b) the aggregate principal amount of such Borrowing;
(c) the date of such Borrowing, which shall be a Business Day;
(d) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(e) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
(f) the location and number of the Borrower’s account to which funds are to be disbursed, which shall comply with the requirements of Section 2.02(c); and
(g) with respect to each Credit Extension made after the Closing Date, that the conditions set forth in Section 4.02(bSections 4.02(b)-(d) and Section 4.02(c) will be are satisfied or waived as of the date of the requested Borrowing is madenotice. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar Borrowing with an ABR Borrowing. If no Interest Period of one month’s duration. If the is specified with respect to any requested Eurodollar Revolving Borrowing, then Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will shall be deemed to have specified selected an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Borrowing Procedure. To (a) In order to request a Revolving Borrowing or Term Loan Borrowing, the applicable Borrower shall deliver, by facsimile or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agent, a duly completed and executed Borrowing Request give telephonic notice to the Administrative Agent (confirmed by hand delivery or telecopy of a duly completed Borrowing Request in the form of Exhibit A), (a) in the case of a Revolving Eurocurrency Borrowing, not later than 12:00 p.m.noon, New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent)London time, three (3) Business Days before the date of the a proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or borrowing and (b) in the case of Term Loan Borrowings to be made on the Closing Datean ABR Borrowing, not later than 12:00 p.m.11:00 a.m., New York City time, (1) one on the Business Day before the date of the a proposed Borrowingborrowing. Each Borrowing Request Such notice shall be irrevocable and shall in each case specify (i) in the following information in compliance with Section 2.02:
(a) case of a Borrowing on the Effective Date, whether the requested Borrowing is to be a Term Borrowing of or a Revolving Loans Borrowing, (ii) whether the Borrowing then being requested is to be a Eurocurrency Borrowing or Term Loans;
an ABR Borrowing, (b) the aggregate amount of such Borrowing;
(ciii) the date of such Borrowing, Borrowing (which shall be a Business Day;
), (div) whether 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 an ABR Borrowing or a Eurodollar Borrowing;
(e) in the case of a Eurodollar Eurocurrency Borrowing, the initial Interest Period with respect thereto. If no election as to be the currency of a Eurocurrency Revolving Borrowing is specified in any Borrowing Request, then the applicable thereto, which Borrower shall be deemed to have requested a period contemplated by the definition of the term “Interest Period”;
(f) the location and number of the account to which funds are to be disbursed; and
(g) with respect to each Credit Extension made after the Closing Date, that the conditions set forth Revolving Borrowing in Section 4.02(b) and Section 4.02(c) will be satisfied or waived as of the date the requested Borrowing is madeDollars. If no election as to the Type of Revolving Borrowing is specified, then the requested Revolving Borrowing shall be an ABR Revolving Borrowing if denominated in Dollars or a Eurodollar 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 's duration. If the Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will be deemed to have specified an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Borrowing Procedure. To Except with respect to any Roll-Up Borrowing, the borrowing procedure for which is set forth Section 2.23, to request a Revolving Borrowing or Term Loan Borrowing, the Borrower shall deliver, by facsimile hand delivery or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agentfacsimile, a duly completed and executed Borrowing Request to the Administrative Agent (ai) in the case of a Revolving Eurodollar Borrowing, not later than 12:00 p.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent), three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (b) in the case of Term Loan Borrowings to be made on the Closing Date, not later than 12:00 p.m., New York City time, three Business Days before the date of the proposed Borrowing or (1ii) in the case of an ABR Borrowing, not later than 12:00 p.m., New York City time, one Business Day before the date of the proposed Borrowing. Each Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Borrowing of Revolving Loans or Term Loans;
(b) the aggregate amount of such Borrowing;
(cb) the date of such Borrowing, which shall be a Business Day;
(dc) whether the Class and initial Type of the Loans comprising such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(ed) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
(fe) the location and number of the Borrower’s account to which funds are to be disbursed, which shall comply with the requirements of Section 2.04; and
(gf) in the case of a Amenities CapEx Borrowing, accompanied by a certificate of a Responsible Officer of the Borrower (i) identifying the item(s) on Annex A to Schedule 3.12 that are to be paid with respect the proceeds of such Amenities CapEx Borrowing, (ii) setting forth (x) the aggregate amount of Amenities CapEx Borrowings made at any time prior to each Credit Extension such Amenities CapEx Borrowing and (y) the aggregate amount of Amenities CapEx Borrowings made after giving effect to the Closing Datemaking of such Amenities CapEx Borrowing (which shall in no event exceed $8,929,873.94 as such amount may be adjusted as provided on Schedule 3.12), (iii) certifying that all proceeds of any previously advanced Amenities CapEx Borrowing have been applied consistent with Annex A to Schedule 3.12 and (iv) attaching a schedule setting forth with specificity (x) the conditions proposed application of the proceeds of such Amenities CapEx Borrowing and (y) the actual application of proceeds of previously advanced Amenities CapEx Borrowings to specific expenditures associated therewith to the extent not set forth on a prior such schedule. Administrative Agent will promptly forward a copy of each such certificate to the Lenders. Administrative Agent shall have three (3) Business Days to review each such certificate and the related request for a Amenities CapEx Borrowing. Such Amenities CapEx Borrowing shall be funded not later than the expiration of such three-Business Day period unless, within such three-Business Day period, Administrative Agent notifies the Borrower in Section 4.02(b) and Section 4.02(c) will be satisfied or waived as of writing that such Amenities CapEx Borrowing does not comply with the date terms hereof (together with reasonable detail regarding the requested Borrowing is madebasis for such determination). If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar Borrowing with an ABR Borrowing. If no Interest Period of one month’s duration. If is specified with respect to any requested Eurodollar Borrowing, then the Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will shall be deemed to have specified selected an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03, the Administrative Agent shall advise each applicable Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Sources: Debt Agreement (Revel AC, Inc.)
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the Borrower shall deliver, by facsimile or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agent, a duly completed and executed Borrowing Request to the Administrative Agent (a) in the case of a Revolving Borrowing, not later than 12:00 p.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent), three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (b) in the case of Term Loan Borrowings to be made on the Closing Date, not later than 12:00 p.m., New York City time, (1) one Business Day before the date of the proposed Borrowing. Each Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Borrowing of Revolving Loans or Term Loans;
(b) the aggregate amount of such Borrowing;
(c) the date of such Borrowing, which shall be a Business Day;
(d) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(e) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
(f) the wiring instructions, including the location and number of the account to which funds are to be disbursed; and
(g) with respect to each Credit Extension made after the Closing Date, that the conditions set forth in Section 4.02(b) and Section 4.02(c) will be satisfied or waived as of the date the requested Borrowing is made. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar Borrowing with an Interest Period of one month’s duration. If the Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will be deemed to have specified an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Sources: Credit Agreement (Blend Labs, Inc.)
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the a Borrower shall deliver, by facsimile hand delivery or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agenttelecopier, a duly completed and executed Borrowing Request to the Administrative Agent (ai) in the case of a Revolving Eurodollar Borrowing, not later than 12:00 p.m.11:00 a.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent)time, three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (bii) in the case of Term Loan Borrowings to be made on the Closing Datean ABR Borrowing, not later than 12:00 p.m.9:00 a.m., New York City time, (1) one Business Day before on the date of the proposed Borrowing. Each Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Borrowing of Revolving Loans or Term Loans;
(b) the aggregate amount of such Borrowing;
(cb) the date of such Borrowing, which shall be a Business Day;
(dc) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(ed) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
(fe) the location and number of the such Borrower’s account to which funds are to be disbursed, which shall comply with the requirements of Section 2.02(c); and
(gf) with respect to each Credit Extension made after the Closing Date, that the conditions set forth in Section 4.02(bSections 4.02(b)-(d) and Section 4.02(c) will be have been satisfied or waived as of the date of the requested Borrowing is madenotice. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar Borrowing with an ABR Borrowing. If no Interest Period of one month’s duration. If the is specified with respect to any requested Eurodollar Borrowing, then such Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will shall be deemed to have specified selected an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Sources: Credit Agreement (MagnaChip Semiconductor LTD (United Kingdom))
Borrowing Procedure. To In order to request a Revolving Term Loan Borrowing or Term Loan a Revolving Credit Borrowing, the Borrower shall deliver, by facsimile or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agent, a duly completed and executed Borrowing Request to notify the Administrative Agent (a) in the case of a Revolving Borrowing, such request by telephone not later than 12:00 p.m., New York City time time, three Business Days before a proposed Borrowing of Eurodollar Loans (or such later time on such Business Day shorter period as may be reasonably acceptable to agreed by the Administrative Agent), three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (b) in the case of Term Loan Borrowings to be made on the Closing Date, not and no later than 12:00 p.m.a.m., New York City time, (1) one on the Business Day before the date of a proposed Borrowing in the proposed Borrowingcase of a Borrowing of ABR Loans. Each such telephonic Borrowing Request shall be irrevocable irrevocable, and shall be confirmed promptly by hand delivery, e-mail or fax to the Administrative Agent of a written Borrowing Request and shall specify the following information in compliance with Section 2.02:
information: (a) whether the Borrowing then being requested Borrowing is to be a Borrowing of Term Loans, Revolving Credit Loans, Incremental Term Loans or Term Loans;
Incremental Revolving Credit Loans (provided that, the Borrower shall not be permitted to request a Eurodollar Borrowing with an Interest Period in excess of one month until the earlier of (x) the date the Administrative Agent shall have notified the Borrower that the primary syndication of the Loans has been completed (which notice shall be given as promptly as practicable) and (y) the date that is 30 days after the Closing Date); provided, however, that the initial Interest Period of any Eurodollar Borrowing made on the Closing Date shall commence on the Closing Date and end on a date reasonably satisfactory to the Administrative Agent specified by the Borrower in such Borrowing Request; (b) the aggregate amount of such Borrowing;
(c) the date of such Borrowing, Borrowing (which shall be a Business Day;
); (d) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(e) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
(fc) the number and location and number of the account to which funds are to be disbursed; (d) the amount of such Borrowing (stated in the Available Currency); and (e) whether the Loans being made pursuant to such Borrowings are to be initially maintained as ABR Loans or Eurodollar Loans and
(g) , if Eurodollar Loans, the Interest Period with respect to thereto; provided, however, that, notwithstanding any contrary specification in any Borrowing Request, each Credit Extension made after requested Borrowing shall comply with the Closing Date, that the conditions requirements set forth in Section 4.02(b) and Section 4.02(c) will be satisfied or waived as of the date the requested Borrowing is made2.02. If no election as Interest Period with respect to the Type of any Eurodollar Borrowing is specifiedspecified in any such notice, then the requested Borrowing Borrower shall be a Eurodollar Borrowing with deemed to have selected an Interest Period of one month’s duration. If the Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will be deemed to have specified an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03, the The Administrative Agent shall promptly advise each Lender the applicable Lenders of any notice given pursuant to this Section 2.03 (and the details thereof contents thereof), and of the amount of such each Lender’s Loan to be made as part portion of the requested Borrowing.
Appears in 1 contract
Sources: Credit Agreement (Altice USA, Inc.)
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the Borrower Agent shall deliver, by hand delivery, facsimile or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agent, a duly completed and executed Borrowing Request to the Administrative Agent (ai) in the case of a Revolving Eurocurrency Borrowing, not later than 12:00 2:00 p.m., New York City time three Business Days before the date of the proposed Borrowing (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent)) (or, three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (b) in the case of Term Loan Eurocurrency Borrowings to be made on the Closing Date, not later than 12:00 2:00 p.m., New York City time, (1) one Business Day before the date of the proposed Borrowing) or (ii) in the case of an ABR Borrowing, not later than 12:00 noon, New York City time on the Business Day prior to the proposed Borrowing (or such later time as may be reasonably acceptable to the Administrative Agent). Each Borrowing Request shall be irrevocable (subject to the last paragraph of this Section 2.03) (provided that such Borrowing Request may be conditioned upon the occurrence of any event specified therein) and shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Borrowing of Revolving Loans or Term Loans[reserved];
(b) the aggregate amount of such Borrowing;
(c) the date of such Borrowing, which shall be a Business Day;
(d) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Eurocurrency Borrowing;
(e) in the case of a Eurodollar Eurocurrency Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
(f) the location and number of the account to which funds are to be disbursed;
(g) [reserved];
(h) the identity of the Borrower or Borrowers requesting such Borrowing; and
(gi) with respect to each Credit Extension made after the Closing DateExtension, that the conditions set forth in Section 4.02(b) and Section 4.02(c) will be satisfied or waived as of the date the requested Borrowing is made. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar Eurocurrency Borrowing with an Interest Period of one month’s duration. If the a Borrower requests a Eurodollar Eurocurrency Borrowing but fails to specify an Interest Period, the such Borrower will be deemed to have specified an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender▇▇▇▇▇▇’s Loan to be made as part of the requested Borrowing. The Borrowing Request in respect of any Loans on the Closing Date or in connection with any Permitted Acquisition or other permitted Investment, or any Incremental Facility, Extension Amendment or Credit Agreement Refinancing Indebtedness, in each case after the Closing Date, may be rescinded or revised to change the requested date for the making of the Loans contemplated thereby, by the applicable Borrower (or the other applicable borrower thereof) upon written notice to the Administrative Agent on or prior to 10:00 a.m. New York City time on the date of the proposed Borrowing (or such later time as the Administrative Agent may approve in its sole discretion).
Appears in 1 contract
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the applicable Borrower shall deliver, by facsimile hand delivery or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agenttelecopy, a duly completed and executed Borrowing Request to the Administrative Agent (ai) in the case of a Revolving Eurodollar Borrowing, not later than 12:00 p.m.11:00 a.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent)time, three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (bii) in the case of Term Loan Borrowings to be made on the Closing Datean ABR Borrowing, not later than 12:00 p.m.10:00 a.m., New York City time, (1) one Business Day before on the date of the proposed Borrowing. Each Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Borrowing of Revolving Loans, U.S. Term Loans or Canadian Term Loans;
(b) the aggregate amount of such Borrowing;
(c) the date of such Borrowing, which shall be a Business Day;
(d) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(e) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “"Interest Period”"; provided that until the earlier of (x) the date on which the Syndication Agent shall have notified U.S. Borrower that a Successful Syndication has been achieved and (y) 60 days after the Second Amendment Effectiveness Date, the Interest Period for any Additional U.S. Term Loans shall be seven days;
(f) the location and number of the applicable Borrower's account to which funds are to be disbursed, which shall comply with the requirements of Section 2.02(c); and
(g) with respect to each Credit Extension made after the Closing Date, that the conditions set forth in Section Sections 4.02(b) and Section 4.02(cthrough (d) will be have been satisfied or waived as of the date of the requested Borrowing is madenotice. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a an ABR Borrowing. If no Interest Period is specified with respect to any requested Eurodollar Borrowing with Revolving Borrowing, then the applicable Borrower shall be deemed to have selected an Interest Period of one month’s duration. If 's duration (subject to the Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will be deemed to have specified an Interest Period of one month’s durationproviso in clause (e) above). Promptly following receipt of a Borrowing Request in accordance with this Section 2.03Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s 's Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the Administrative Borrower (on its own behalf or on behalf of any other Borrower) shall deliver, by facsimile or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agent, a duly completed and executed Borrowing Request to notify the Administrative Agent of such request by telephone (apromptly confirmed by telecopy) (i) in the case of a Revolving Eurodollar Borrowing, not later than 12:00 p.m.11:00 a.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent)time, three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (bii) in the case of Term Loan Borrowings to be made on the Closing Datean ABR Borrowing (other than Swingline Loans), not later than 12:00 p.m.11:00 a.m., New York City time, (1) one on the same Business Day before the date of the proposed Borrowing. Each such telephonic Borrowing Request shall be irrevocable and shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written Borrowing Request in a form approved by the Administrative Agent and signed by a Responsible Officer of the Administrative Borrower. Each such telephonic and written Borrowing Request shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing Borrower on whose behalf the Administrative Borrower is to be a Borrowing of Revolving Loans or Term Loansrequesting such Borrowing;
(b) the aggregate amount of such Borrowing;
(c) the date of such Borrowing, which shall be a Business Day;
(d) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(e) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
(f) the location and number of the Administrative Borrower’s account to into which funds are to be disbursed, which shall comply with the requirements of Section 2.02; and
(g) with respect to each Credit Extension made after the Closing Date, that the conditions set forth in Section 4.02(b4.02(b)-(e) and Section 4.02(c) will be are satisfied or waived as of the date of the requested Borrowing is madeRequest. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar Borrowing with an ABR Borrowing. If no Interest Period of one month’s duration. If is specified with respect to any requested Eurodollar Revolving Borrowing, then the Administrative Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will shall be deemed to have specified selected an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Sources: Credit Agreement (Massey Energy Co)
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the Borrower shall deliver, by facsimile hand delivery or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agenttelecopy, a duly completed and executed Borrowing Request to the Administrative Agent (ai) in the case of a Revolving Eurodollar Borrowing, not later than 12:00 p.m.11:00 a.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent)time, three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (bii) in the case of Term Loan Borrowings to be made on the Closing Datean ABR Borrowing, not later than 12:00 p.m.11:00 a.m., New York City time, (1) one Business Day before on the date of the proposed Borrowing. Each Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Borrowing of Tranche A-1 Revolving Loans or Term Loans;
(b) the aggregate amount of such Borrowing;
(c) the date of such Borrowing, which shall be a Business Day;
(d) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(e) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “"Interest Period”"; provided that until the date on which the Syndication Agent shall have notified Borrower that a Successful Syndication has been achieved, the Interest Period shall be seven days;
(f) the location and number of the Borrower's account to which funds are to be disbursed, which shall comply with the requirements of Section 2.02(c); and
(g) with respect to each Credit Extension made after the Closing Date, that the conditions set forth in Section 4.02(bSections 4.02(b)-(d) and Section 4.02(c) will be have been satisfied or waived as of the date of the requested Borrowing is madenotice. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a an ABR Borrowing. If no Interest Period is specified with respect to any requested Eurodollar Borrowing with Revolving Borrowing, then Borrower shall be deemed to have selected an Interest Period of one month’s duration. If 's duration (subject to the Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will be deemed to have specified an Interest Period of one month’s durationproviso in clause (e) above). Promptly following receipt of a Borrowing Request in accordance with this Section 2.03Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s 's Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Sources: Credit Agreement (PGT, Inc.)
Borrowing Procedure. To (a) In order to request a Revolving Borrowing or Term Loan Borrowing, the applicable Borrower shall deliver, by facsimile or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agent, a duly completed and executed Borrowing Request give telephonic notice to the Administrative Agent (confirmed by hand delivery or telecopy of a duly completed Borrowing Request in the form of Exhibit A), (a) in the case of a Revolving Eurocurrency Borrowing, not later than 12:00 p.m.noon, New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent)London time, three (3) Business Days before the date of the a proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or borrowing and (b) in the case of Term Loan Borrowings to be made on the Closing Datean ABR Borrowing, not later than 12:00 p.m.11:00 a.m., New York City time, (1) one on the Business Day before the date of the a proposed Borrowingborrowing. Each Borrowing Request Such notice shall be irrevocable and shall in each case specify (i) in the following information in compliance with Section 2.02:
(a) case of a Borrowing on the Effective Date, whether the requested Borrowing is to be a Term Borrowing of or a Revolving Loans Borrowing, (ii) whether the Borrowing then being requested is to be a Eurocurrency Borrowing or Term Loans;
an ABR Borrowing, (b) the aggregate amount of such Borrowing;
(ciii) the date of such Borrowing, Borrowing (which shall be a Business Day;
), (div) whether 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 an ABR Borrowing or a Eurodollar Borrowing;
(e) in the case of a Eurodollar Eurocurrency Borrowing, the initial Interest Period with respect thereto. If no election as to be the currency of a Eurocurrency Revolving Borrowing is specified in any Borrowing Request, then the applicable thereto, which Revolving Borrower shall be deemed to have requested a period contemplated by the definition of the term “Interest Period”;
(f) the location and number of the account to which funds are to be disbursed; and
(g) with respect to each Credit Extension made after the Closing Date, that the conditions set forth Revolving Borrowing in Section 4.02(b) and Section 4.02(c) will be satisfied or waived as of the date the requested Borrowing is madeDollars. If no election as to the Type of Revolving Borrowing is specified, then the requested Revolving Borrowing shall be an ABR Revolving Borrowing if denominated in Dollars or a Eurodollar 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 's duration. If the Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will be deemed to have specified an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Borrowing Procedure. To request a Revolving Borrowing or Term Loan B Borrowing, the relevant Borrower shall deliver, by facsimile hand delivery or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agenttelecopy, a duly completed and executed Borrowing Request to the Administrative Agent (ai) in the case of a Revolving BorrowingEurodollar Borrowing in dollars, not later than 12:00 p.m.noon., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent)time, three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (bii) in the case of Term Loan Borrowings to be made on the Closing Datean ABR Borrowing, not later than 12:00 1:00 p.m., New York City time, (1) one Business Day before on the date of the proposed Borrowing. Each Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Revolving Borrowing of Revolving Loans or a Term LoansB Borrowing;
(b) the aggregate amount of such Borrowing;
(c) the date of such Borrowing, which shall be a Business Day;
(d) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(e) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “"Interest Period”"; provided that until the date on which the Syndication Agent shall have notified Borrower Agent that the primary syndication of the Commitments has been completed, the Interest Period shall be seven days;
(f) the location and number of the relevant Borrower's account to which funds are to be disbursed, which shall comply with the requirements of Section 2.02; and
(g) with respect to each Credit Extension made after the Closing Date, that the conditions set forth in Section 4.02(bSections 4.02 (b)-(e) and Section 4.02(c) will be are satisfied or waived as of the date of the requested Borrowing is madenotice. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a an ABR Borrowing. If no Interest Period is specified with respect to any requested Eurodollar Borrowing with Revolving Borrowing, then the relevant Borrower shall be deemed to have selected an Interest Period of one month’s duration. If 's duration (subject to the Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will be deemed to have specified an Interest Period of one month’s durationproviso in clause (e) above). Promptly following receipt of a Borrowing Request in accordance with this Section 2.03Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s 's Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the Borrower shall deliver, by facsimile or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agent, a duly completed and executed Borrowing Request to notify the Administrative Agent of such request by telephone (aconfirmed by telecopy or e-mail no later than one Business Day following such request)
(i) in the case of a Eurodollar Revolving Borrowing, not later than 12:00 1:00 p.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent)time, three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (b) in the case of Term Loan Borrowings to be made on the Closing Date, an ABR Borrowing (other than Swingline Loans) not later than 12:00 1:00 p.m., New York City time, (1) one on the Business Day before the date of the proposed Borrowing. Each such telephonic Borrowing Request shall be irrevocable and shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written Borrowing Request in a form approved by the Administrative Agent and signed by Borrower. Each such telephonic and written Borrowing Request shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Revolving Borrowing of Revolving Loans or Term Loansa Swingline Loan;
(b) the aggregate amount of such Borrowing;
(c) the date of such Borrowing, which shall be a Business Day;
(d) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Revolving Borrowing;
(e) in the case of a Eurodollar Revolving Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “"Interest Period”"; provided, that until the earlier of (i) the date on which the Administrative Agent shall have notified Borrower that the primary syndication of the Commitments has been completed and (ii) the date which is 180 days after the Original Closing Date, the Interest Period shall be one month;
(f) the location and number of the Borrower's account to which funds are to be disbursed, which shall comply with the requirements of Section 2.02; and
(g) with respect to each Credit Extension made after the Closing Date, that the conditions set forth in Section 4.02(b4.02 (b)-(e) and Section 4.02(c) will be are satisfied or waived as of the date of the requested Borrowing is madenotice. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a an ABR Borrowing. If no Interest Period is specified with respect to any requested Eurodollar Borrowing with Revolving Borrowing, then Borrower shall be deemed to have selected an Interest Period of one month’s duration. If 's duration (subject to the Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will be deemed to have specified an Interest Period of one month’s durationproviso in clause (e) above). Promptly following receipt of a Borrowing Request in accordance with this Section 2.03, the Administrative Agent shall notify Collateral Agent of the borrowing Request, confirm with Collateral Agent that the funding of such Borrowing Request is in conformity with this Section 2.03 and advise each Lender of the details thereof and of the amount of such Lender’s 's Loan to be made as part of the requested Borrowing.
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Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the Borrower shall deliver, by hand delivery, facsimile or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agent, email a duly completed and executed Borrowing Request to the Administrative Agent (ai) in the case of a Revolving Term SOFR Borrowing, not later than 12:00 2:00 p.m., New York City time three Business Days before the date of the proposed Borrowing (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent)) (or, three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (b) in the case of Term SOFR Borrowings that are Term Loan Borrowings to be made on the Closing Date, not later than 12:00 2:00 p.m., New York City time, (1) one three Business Day Days before the date of the proposed Borrowing), (ii) in the case of an ABR Borrowing, not later than 12:00 noon, New York City time on the Business Day prior to the proposed Borrowing (or such later time as may be reasonably acceptable to the Administrative Agent), (iii) in the case of Alternative Currency Loans, no later than 2:00 p.m. New York City time four Business Days prior to the requested date of any Borrowing or, in the case of Alternative Currency Term Rate Loans, any continuation (or such later time as may be reasonably acceptable to the Administrative Agent), or (iv) in the case of a Term SOFR Borrowing denominated in a Special Notice Currency, five Business Days before the date of the proposed Borrowing; provided that any notice of a Borrowing to be made on the Closing Date (whether a Term SOFR Borrowing or ABR Borrowing) may be given not later than (x) for a Borrowing of Revolving Loans, 2:00 p.m. New York City time (or such later time as the Administrative Agent may reasonably agree), two (2) Business Days prior to the date of the proposed Borrowing and (y) for a Term Loan Borrowing, 2:00 p.m. New York City time (or such later time as the Administrative Agent may reasonably agree), one (1) Business Day prior to the date of the proposed Borrowing, in each case, which notice may be subject to the effectiveness of this Agreement. Each Borrowing Request shall be irrevocable (subject to the last paragraph of this Section 2.03) (provided that such Borrowing Request may be conditioned upon the occurrence of any event specified therein) and shall specify the following information in compliance with Section Section 2.02:
(a) whether the requested Borrowing is to be a Borrowing of Revolving Loans or Term Loans;
(b) the aggregate amount of such Borrowing;
(c) the date of such Borrowing, which shall be a Business Day;
(d) whether such Borrowing is to be an ABR Borrowing Borrowing, a Term SOFR Borrowing, an Alternative Currency Daily Rate Borrowing, or a Eurodollar an Alternative Currency Term Rate Borrowing;
(e) in the case of a Eurodollar Term SOFR Borrowing or an Alternative Term Rate Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
(f) the location and number of the account to which funds are to be disbursed;
(g) the identity of the Borrower or Borrowers requesting such Borrowing; and
(gh) with respect to each Credit Extension made after the Closing DateExtension, that the conditions set forth in Section Section 4.02(b) and Section Section 4.02(c) will be satisfied or waived as of the date the requested Borrowing is made. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar Borrowing Term SOFR Borrowing, with an Interest Period of one month’s duration, in the case of any Loan denominated in Dollars, or an Alternative Currency Term Rate Borrowing, with an Interest Period of one month’s duration, in the case of any Loan denominated in Euros or Canadian Dollars. If the a Borrower requests a Eurodollar Term SOFR Borrowing or an Alternative Currency Term Rate Borrowing but fails to specify an Interest Period, the such Borrower will be deemed to have specified an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender▇▇▇▇▇▇’s Loan to be made as part of the requested Borrowing. The Borrowing Request in respect of any Loans on the Closing Date or in connection with any Permitted Acquisition or other permitted Investment, or any Incremental Facility, Extension Amendment or Credit Agreement Refinancing Indebtedness, in each case after the Closing Date, may be rescinded or revised to change the requested date for the making of the Loans contemplated thereby, by the Borrower upon written notice to the Administrative Agent on or prior to 10:00 a.m. New York City time on the date of the proposed Borrowing (or such later time as the Administrative Agent may approve in its sole discretion).
Appears in 1 contract
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the Borrower shall deliver, by facsimile hand delivery or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agenttelecopier, a duly completed and executed Borrowing Request to the Administrative Agent (ai) in the case of a Revolving Eurodollar Borrowing, not later than 12:00 p.m.noon, New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent)time, three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (bii) in the case of Term Loan Borrowings to be made on the Closing Datean ABR Borrowing, not later than 12:00 p.m.10:00 a.m., New York City time, (1) one Business Day before on the date of the proposed Borrowing. Each Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.02:: -42-
(a) whether the requested Borrowing is to be a Borrowing of Revolving Loans or Tranche A Loans or Incremental Term Loans that are not Tranche A Loans;
(b) the aggregate amount of such Borrowing;
(c) the date of such Borrowing, which shall be a Business Day;
(d) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing; provided that until 5 days after the Closing Date, all Borrowings shall be ABR Borrowings;
(e) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “"Interest Period”";
(f) the location and number of the Borrower's account to which funds are to be disbursed, which shall comply with the requirements of Section 2.02(c); and
(g) with respect to each Credit Extension made after the Closing Date, that the conditions set forth in Section 4.02(bSections 4.02(b)-(c) and Section 4.02(c) will be have been satisfied or waived as of the date of the requested Borrowing is madenotice. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a an ABR Borrowing. If no Interest Period is specified with respect to any requested Eurodollar Borrowing with Borrowing, then Borrower shall be deemed to have selected an Interest Period of one month’s duration. If the Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will be deemed to have specified an Interest Period of one month’s 's duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s 's Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Borrowing Procedure. To request a Revolving Borrowing or Term Loan B Borrowing, the Borrower shall deliver, by facsimile hand delivery or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agenttelecopy, a duly completed and executed Borrowing Request to the Administrative Agent (ai) in the case of a Revolving Eurodollar Borrowing, not later than 12:00 p.m.11:00 a.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent)time, three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (bii) in the case of Term Loan Borrowings to be made on the Closing Datean ABR Borrowing, not later than 12:00 p.m.11:00 a.m., New York City time, (1) one Business Day before the date of the proposed Borrowing. Each Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Borrowing of Revolving Loans or Term B Loans;
(b) the aggregate amount of such Borrowing;
(c) the date of such Borrowing, which shall be a Business Day;
(d) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing; provided that Eurodollar Borrowings shall not be available until the earlier of (i) August 31, 2004 and (ii) the date on which the Syndication Agent shall have notified Borrower that a Successful Syndication has been achieved ; provided further, however, that if on August 31, 2004, the Syndication Agent shall not have notified Borrower that a Successful Syndication has been achieved, then Borrower shall only be entitled to select Interest Periods for Eurodollar Borrowings of one month until it has been so notified;
(e) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “"Interest Period”";
(f) the location and number of the Borrower's account to which funds are to be disbursed, which shall comply with the requirements of Section 2.02(c); and
(g) with respect to each Credit Extension made after the Closing Date, that the conditions set forth in Section 4.02(bSections 4.02(b)-(d) and Section 4.02(c) will be have been satisfied or waived as of the date of the requested Borrowing is madenotice. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a an ABR Borrowing. If no Interest Period is specified with respect to any requested Eurodollar Borrowing with Revolving Borrowing, then Borrower shall be deemed to have selected an Interest Period of one month’s duration. If the Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will be deemed to have specified an Interest Period of one month’s 's duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s 's Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the Borrower shall deliver, by facsimile hand delivery or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agentfacsimile, a duly completed and executed Borrowing Request to the Administrative Agent (ai) in the case of a Revolving Eurodollar Borrowing, not later than 12:00 p.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent), three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (b) in the case of Term Loan Borrowings to be made on the Closing Date, not later than 12:00 p.m., New York City time, three Business Days before the date of the proposed Borrowing or (1ii) in the case of an ABR Borrowing, not later than 12:00 p.m., New York City time, one Business Day before the date of the proposed Borrowing. Each Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Borrowing of Revolving Loans or Term Loans;
(b) the aggregate amount of such Borrowing;
(cb) the date of such Borrowing, which shall be a Business Day;
(dc) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(ed) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
(fe) the location and number of the Borrower’s account to which funds are to be disbursed, which shall comply with the requirements of Section 2.04; and
(gf) in the case of a Second Amendment Amenities CapEx Borrowing, accompanied by a certificate of a Responsible Officer of the Borrower (i) identifying the item(s) on Annex A to Schedule 3.12 to the Second Amendment that are to be paid with respect the proceeds of such Second Amendment Amenities CapEx Borrowing, (ii) setting forth (x) the aggregate amount of Second Amendment Amenities CapEx Borrowings made at any time prior to each Credit Extension such Second Amendment Amenities CapEx Borrowing and (y) the aggregate amount of Second Amendment Amenities CapEx Borrowings made after giving effect to the Closing Datemaking of such Second Amendment Amenities CapEx Borrowing (which shall in no event exceed $10,000,000 as such amount may be adjusted as provided on Schedule 3.12 to the Second Amendment), (iii) certifying that all proceeds of any previously advanced Second Amendment Amenities CapEx Borrowing have been applied consistent with Annex A to Schedule 3.12 to the conditions Second Amendment and (iv) attaching a schedule setting forth with specificity (x) the proposed application of the proceeds of such Second Amendment Amenities CapEx Borrowing and (y) the actual application of proceeds of previously advanced Second Amendment Amenities CapEx Borrowings to specific expenditures associated therewith to the extent not set forth on a prior such schedule. Administrative Agent will promptly forward a copy of each such certificate to the Lenders. Administrative Agent shall have three (3) Business Days to review each such certificate and the related request for a Second Amendment Amenities CapEx Borrowing. Such Second Amendment Amenities CapEx Borrowing shall be funded not later than the expiration of such three-Business Day period unless, within such three-Business Day period, Administrative Agent notifies Borrower in Section 4.02(b) and Section 4.02(c) will be satisfied or waived as of writing that such Second Amendment Amenities CapEx Borrowing does not comply with the date terms hereof (together with reasonable detail regarding the requested Borrowing is madebasis for such determination). If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar Borrowing with an ABR Borrowing. If no Interest Period of one month’s duration. If the is specified with respect to any requested Eurodollar Borrowing, then Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will shall be deemed to have specified selected an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.”
(OO) Section 2.04 of the Credit Agreement is hereby amended to (a) change each reference to a “Loan” in such section to “Revolving Loan” and (b) change each reference to a “Lender” in such section to “Revolving Loan Lender”.
(PP) Section 2.05(a) and (c) of the Credit Agreement is hereby amended to (a) change each reference to a “Loan” in such section to “Revolving Loan” and (b) change each reference to a “Lender” in such section to “Revolving Loan Lender”.
(QQ) Section 2.06(c) and (d) of the Credit Agreement is hereby amended to change each reference to a “Lender” in such section to “Revolving Loan Lender”.
(RR) The first sentence in clause (c) of Section 2.06 of the Credit Agreement is hereby amended by deleting such sentence in its entirety and inserting the following in replacement therefor: “Borrower agrees to pay to the Administrative Agent for the account of each Revolving Loan Lender a commitment fee, which shall accrue at 4.00% per annum on the average daily unused amount of the Revolving Commitment of such Revolving Loan Lender during the period from and including the Second Amendment Effective Date to but excluding the Revolving Commitment Termination Date.”
(SS) The proviso in clause (b) of Section 2.08 of the Credit Agreement is hereby amended by deleting clause (iii) of such proviso in its entirety and inserting the following in replacement therefor:
Appears in 1 contract
Sources: Credit Agreement (Revel AC, Inc.)
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the Borrower shall deliver, by facsimile hand delivery or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agenttelecopier, a duly completed and executed Borrowing Request to the Administrative Agent (ai) in the case of a Revolving Eurodollar Borrowing, not later than 12:00 p.m.11:00 a.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent)time, three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (bii) in the case of Term Loan Borrowings to be made on the Closing Datean ABR Borrowing, not later than 12:00 p.m.9:00 a.m., New York City time, (1) one Business Day before on the date of the proposed Borrowing. Each Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Borrowing of Additional Revolving Loans, Additional Term Loans or Delayed Draw Term Loans;
(b) the aggregate amount of such Borrowing;
(c) the date of such Borrowing, which shall be a Business Day;
(d) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(e) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
(f) the location and number of the Borrower’s account to which funds are to be disbursed, which shall comply with the requirements of Section 2.02(c); and
(g) with respect to each Credit Extension made after the Closing Date, that the conditions set forth in Section 4.02(bSections 4.02(b)-(d) and Section 4.02(c) will be have been satisfied or waived as of the date of the requested Borrowing is madenotice. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar Borrowing with an ABR Borrowing. If no Interest Period of one month’s duration. If the is specified with respect to any requested Eurodollar Borrowing, then Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will shall be deemed to have specified selected an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the relevant Borrower shall deliver, by facsimile hand delivery or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agenttelecopier, a duly completed and executed Borrowing Request to the Administrative Agent (ai) in the case of a Revolving Eurodollar Borrowing, not later than 12:00 p.m.11:00 a.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent)time, three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (bii) in the case of Term Loan Borrowings to be made on the Closing Datean ABR Borrowing, not later than 12:00 p.m.9:00 a.m., New York City time, (1) one Business Day before on the date of the proposed Borrowing. Each Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Borrowing of Revolving Loans or Term Loans;
(b) the aggregate amount of such Borrowing;
(cb) the date of such Borrowing, which shall be a Business Day;
(dc) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(ed) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
(fe) the location and number of the relevant Borrower’s account to which funds are to be disbursed, which shall comply with the requirements of Section 2.02(c); and
(gf) with respect to each Credit Extension made after the Closing Date, that the conditions set forth in Section 4.02(bSections 4.02(b)-(d) and Section 4.02(c) will be have been satisfied or waived as of the date of the requested Borrowing is madenotice. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar Borrowing with an ABR Borrowing. If no Interest Period of one month’s duration. If is specified with respect to any requested Eurodollar Borrowing, then the relevant Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will shall be deemed to have specified selected an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Borrowing Procedure. To In order to request a Revolving Borrowing or Term Loan Borrowing(other than a Swingline Loan, the as to which this Section 2.03 shall not apply), a Borrower shall deliver, by facsimile hand deliver or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agent, a duly completed and executed Borrowing Request telecopy to the Administrative Agent a duly completed Borrowing Request in the form of Exhibit A (a) in the case of an Alternative Currency Borrowing and in the case of a Revolving LIBOR Borrowing, not later than 12:00 p.m.11:00 a.m., New York City time (or, if the Borrowing Request is delivered or such later time on such Business Day as may be reasonably acceptable telecopied to the Administrative AgentAgent in London, 10:00 a.m., London time), three (3) Business Days before the date of the a proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or and (b) in the case of Term Loan an ABR Borrowing denominated in Dollars, not later than 12:00 noon, New York City time, one Business Day before a proposed Borrowing; provided, however, that Borrowing Requests with respect to Borrowings to be made on the Closing DateEffective Date may, not at the discretion of the Administrative Agent, be delivered later than 12:00 p.m., New York City time, (1) one Business Day before the date of the proposed Borrowingtimes specified above. Each Borrowing Request shall be irrevocable and shall specify (i) the following information in compliance with Section 2.02:
Borrower requesting such Borrowing (aand be signed by or on behalf of such Borrower); (ii) whether the requested if such Borrowing is to be a Borrowing of Revolving Loans or Term Loans;
(b) made on the aggregate amount of such Borrowing;
(c) the date of such BorrowingEffective Date, which shall be a Business Day;
(d) whether such Borrowing is to be an ABR a Term Borrowing, a Periodic Access Borrowing, a U.S. $ Revolving Credit Borrowing or a Eurodollar Borrowing;
(e) in the case of a Eurodollar Multi-Currency Revolving Credit Borrowing, the initial Interest Period or if such Borrowing is to be applicable theretomade after the Effective Date, which shall whether such Borrowing is to be a period contemplated by Periodic Access Borrowing, a U.S. $ Revolving Credit Borrowing or a Multi- Currency Revolving Credit Borrowing; (iii)-whether the definition of the term “Interest Period”;
Borrowing then being requested is to be a LIBOR Borrowing or an ABR Borrowing; (fiv) the number and location and number of the account to which funds are to be disburseddisbursed (which shall be an account that complies with the requirements of Section 2.02(c) and, in the case of a Borrowing denominated in Dollars, shall be at an office of the Administrative Agent in New York City or London); (v) the date of such Borrowing (which shall be a Business Day and
(g) with respect , in the case of a Periodic Access Borrowing to each Credit Extension be made after the Closing Effective Date, that shall be within a Periodic Access Availability Period); (vi) the conditions amount of such Borrowing (which shall be expressed in Dollars, regardless of whether such Borrowing is an Alternative Currency Borrowing); (vii) the currency of such Borrowing (which shall be Dollars, in the case of the Term Borrowing and any U.S. $ Revolving Credit Borrowing or ABR Borrowing, and otherwise shall be Dollars or an Alternative Currency); and (viii) if such Borrowing is to be a LIBOR Borrowing, the Interest Period with respect thereto; provided, however, that, notwithstanding any contrary specification in any Borrowing Request, each requested Borrowing shall comply with the requirements set forth in Section 4.02(b) and Section 4.02(c) will be satisfied or waived 2.02. If no election as to the currency of the date Borrowing is specified in any such notice, then the requested Borrowing is madeshall be denominated in Dollars. If no election as to the Type of Borrowing is specifiedspecified in any such notice, then the requested Borrowing shall be an ABR Borrowing if denominated in Dollars or a Eurodollar LIBOR Borrowing if denominated in an Alternative Currency. If no Interest Period with respect to any LIBOR Borrowing is specified in any such notice, then the applicable 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 11:00 a.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), of each Lender's portion of the requested Borrowing and, in the case of an Alternative Currency Borrowing, of the Alternative Currency Equivalent of the Dollar amount specified in the applicable Borrowing Request and the Spot Exchange Rate utilized to determine such Alternative Currency Equivalent. If a Borrower in respect of an outstanding Revolving Credit Borrowing 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 such Borrowing and requesting that such Borrowing be refinanced, then such Borrower shall (unless such Borrower has notified the Administrative Agent, not fewer 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 Revolving Credit Borrowing of equivalent amount in the same currency, and such new Borrowing shall be an ABR Borrowing if denominated in Dollars or a LIBOR Borrowing with an Interest Period of one month’s duration's duration if denominated in an Alternative Currency. If The sum of (a) the Borrower requests a Eurodollar Borrowing but fails to specify an Interest Periodaggregate principal amount of Borrowings by the EEIG Borrower, plus (b) the Borrower will be deemed to have specified an Interest Period Aggregate L/C Exposure under Letters of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03, Credit issued at the Administrative Agent shall advise each Lender request of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested BorrowingEEIG Borrower, at any one time outstanding, shall not exceed $575,000,000.
Appears in 1 contract
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the Borrower shall deliver, by hand delivery, facsimile or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agenttransmission, a duly completed and executed Borrowing Request to the Administrative Agent (ai) in the case of a Revolving Eurodollar Borrowing, not later than 12:00 1:00 p.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent)time, three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (bii) in the case of Term Loan Borrowings to be made on the Closing Datean ABR Borrowing, not later than 12:00 1:00 p.m., New York City time, (1) one Business Day before the date of the proposed Borrowing. Each Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Borrowing of Revolving Loans or Term Loans;
(b) the aggregate principal amount of such Borrowing;
(c) the date of such Borrowing, which shall be a Business Day;
(d) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(e) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
(f) the location and number of the Borrower’s account to which funds are to be disbursed, which shall comply with the requirements of Section 2.02(c); and
(g) with respect to each Credit Extension made after the Closing Date, that the conditions set forth in Section Sections 4.02(b) and Section 4.02(c(c) will be are satisfied or waived as of the date of the requested Borrowing is madenotice. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar Borrowing with an ABR Borrowing. If no Interest Period of one month’s duration. If is specified with respect to any requested Eurodollar Borrowing, then the Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will shall be deemed to have specified selected an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Borrowing Procedure. To In order to request a Revolving Term Loan Borrowing or Term Loan a Revolving Credit Borrowing, the Borrower shall deliver, by facsimile or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agent, a duly completed and executed Borrowing Request to notify the Administrative Agent (a) in the case of a Revolving Borrowing, such request by telephone not later than 12:00 p.m., New York City time time, (or such later time on such a) one Business Day before a proposed Borrowing of Eurodollar Loans on the Funding Date and (b) three Business Days before a proposed Borrowing of Eurodollar Loans or SOFR Loans on any other date (or, in each case, such shorter period as may be reasonably acceptable to agreed by the Administrative Agent), three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (b) in the case of Term Loan Borrowings to be made on the Closing Date, not and no later than 12:00 p.m., New York City time, (1) one on the Business Day before the date of a proposed Borrowing in the proposed Borrowingcase of a Borrowing of ABR Loans. Each such telephonic Borrowing Request shall be irrevocable irrevocable, and shall be confirmed promptly by hand delivery, e-mail or fax to the Administrative Agent of a written Borrowing Request and shall specify the following information in compliance with Section 2.02:
information: (ai) whether the Borrowing then being requested Borrowing is to be a Borrowing of Term Loans, Revolving Credit Loans, Incremental Term Loans or Term Incremental Revolving Loans;
; (b) the aggregate amount of such Borrowing;
(cii) the date of such Borrowing, Borrowing (which shall be a Business Day;
); (d) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(e) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
(fiii) the number and location and number of the account to which funds are to be disbursed; (iv) the amount of such Borrowing (stated in the Available Currency); and (v) whether the Loans being made pursuant to such Borrowings are to be initially maintained as ABR Loans or, Eurodollar Loans or SOFR Loans and
(g) , if Eurodollar Loans or SOFR Loans, the Interest Period with respect to each Credit Extension made after the Closing Datethereto; provided, however, that the conditions initial Interest Period of any Eurodollar Borrowing made on the Funding Date shall end on a date reasonably satisfactory to the Administrative Agent specified by the Borrower in such Borrowing Request; provided, however, that, notwithstanding any contrary specification in any Borrowing Request, each requested Borrowing shall comply with the requirements set forth in Section 4.02(b) and Section 4.02(c) will be satisfied or waived as of the date the requested Borrowing is made2.02. If no election as Interest Period with respect to the Type of any Eurodollar Borrowing or SOFR Borrowing is specifiedspecified in any such notice, then the requested Borrowing Borrower shall be a Eurodollar Borrowing with deemed to have selected an Interest Period of one month’s duration. If the Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will be deemed to have specified an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03, the The Administrative Agent shall promptly advise each Lender the applicable Lenders of any notice given pursuant to this Section 2.03 (and the details thereof contents thereof), and of the amount of such each Lender’s Loan to be made as part portion of the requested Borrowing.. Notwithstanding anything to the contrary set forth herein, no
Appears in 1 contract
Sources: Credit Agreement (Altice USA, Inc.)
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the Borrower shall deliver, by hand delivery, facsimile or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agentmail, a duly completed and executed Borrowing Request to the Administrative Agent (ai) in the case of a Revolving Eurodollar Borrowing, not later than 12:00 p.m.11:00 a.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent)time, three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (bii) in the case of Term Loan Borrowings to be made on the Closing Datean ABR Borrowing, not later than 12:00 p.m.9:00 a.m., New York City time, (1) one Business Day before on the date of the proposed Borrowing. Each Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Borrowing of Revolving Loans or Term Loans;
(b) the aggregate amount of such Borrowing;
(cb) the date of such Borrowing, which shall be a Business Day;
(dc) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(ed) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
(fe) the location and number of the Borrower’s account to which funds are to be disbursed, which shall comply with the requirements of Section 2.02(c); and
(gf) with respect to each Credit Extension made after the Closing Date, that the conditions set forth in Section 4.02(bSections 4.02(b)-(c) and Section 4.02(c) will be have been satisfied or waived as of the date of the requested Borrowing is madenotice. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar Borrowing with an ABR Borrowing. If no Interest Period of one month’s duration. If the is specified with respect to any requested Eurodollar Borrowing, then Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will shall be deemed to have specified selected an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the Borrower shall deliver, by facsimile hand delivery or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agenttelecopier, a duly completed and executed Notice of Borrowing Request to the Administrative Agent (ai) in the case of a Revolving LIBOR Borrowing, not later than 12:00 p.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent), three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (b) in the case of Term Loan Borrowings to be made on the Closing Date, not later than 12:00 p.m., New York City time, (1) one three Business Day Days before the date of the proposed Borrowing or (ii) in the case of a Base Rate Borrowing, not later than 10:00 a.m., New York City time, on the Business Day of the proposed Borrowing. Each Notice of Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.02:information.
(a) whether the requested Borrowing is to be a Borrowing of Revolving Loans or Term Loans;
(b) the aggregate amount of such Borrowing;
(cb) the date of such Borrowing, which shall be a Business Day;
(dc) whether such Borrowing is to be an ABR Base Rate Borrowing or a Eurodollar LIBOR Borrowing;
(ed) in the case of a Eurodollar LIBOR Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
(fe) the location and number of the Borrower’s account to which funds are to be disbursed; and;
(gf) with respect to each Credit Extension made after the Closing Date, that the conditions set forth in Section 4.02(bSections 2.2(b), (c) and Section 4.02(c(d) will be have been satisfied or waived as of the date of the requested Borrowing is madenotice. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar Borrowing with an Base Rate Borrowing. If no Interest Period of one month’s duration. If is specified with respect to any requested LIBOR Borrowing, then the Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will shall be deemed to have specified selected an Interest Period of one month’s duration. Promptly following receipt of a Notice of Borrowing Request in accordance with this Section 2.03Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Borrowing Procedure. To request a Revolving Borrowing or Term Loan BorrowingWhen Borrower desires to incur the Loans hereunder, the Borrower shall deliver, by facsimile hand delivery, e-mail or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agenttelecopier, a duly completed and executed Borrowing Request to the Administrative Agent (a) in the case of a Revolving Borrowing, not later than 12:00 p.m.11:00 a.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent)time, three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (b) in the case of Term Loan Borrowings to be made on the Closing Date, not later than 12:00 p.m., New York City time, (1) one Business Day before the date of the proposed Borrowing. Each Such Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Borrowing of Revolving Loans or Term Loans;
(b) the aggregate amount of such Borrowing;
(cb) the date of such Borrowing, which shall be a Business Day;
(dc) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(ed) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;; and
(fe) the location and number of the Borrower’s account to which funds are to be disbursed; and
(g) with respect to each Credit Extension made after the Closing Date, that the conditions set forth in Section 4.02(b) and Section 4.02(c) will be satisfied or waived as of the date the requested Borrowing is made. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be deemed to be a Eurodollar Borrowing with Borrowing, and Borrower shall be deemed to have selected an Interest Period of one month’s three months’ duration. If the no Interest Period is specified with respect to any requested Eurodollar Borrowing, then Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will shall be deemed to have specified selected an Interest Period of one month’s three months’ duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Borrowing Procedure. To request a Revolving the Borrowing or Term Loan Borrowingon the Closing Date, the Borrower shall deliver, by facsimile or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agent, a duly completed and executed Borrowing Request to the Administrative Agent (a) in the case of a Revolving Borrowing, not later than 12:00 p.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent), three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (b) in the case of Term Loan Borrowings to be made on the Closing Date, not later than 12:00 p.m., New York City time, (1) one Business Day before the date of the proposed Borrowing. Each Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.02:
: (a) whether the requested Borrowing is to be a Borrowing of Revolving Loans or Term Loans;
(b) the aggregate amount of such Borrowing;
; (cb) the date of such Borrowing, which shall be a Business Day;
; (dc) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Term SOFR Borrowing;
; (ed) in the case of a Eurodollar Term SOFR Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
; and (fe) the location and number of the account to which funds are to be disbursed; and
(g) with respect to each Credit Extension made after the Closing Date, that the conditions set forth in Section 4.02(b) and Section 4.02(c) will be satisfied or waived as of the date the requested Borrowing is made. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar Term SOFR Borrowing with an Interest Period of one month’s duration. If the Borrower requests a Eurodollar Term SOFR Borrowing but fails to specify an Interest Period, the Borrower will be deemed to have specified an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender▇▇▇▇▇▇’s Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the Borrower Agent shall deliver, by hand delivery, facsimile (or by telephone confirmed promptly in writing by facsimile or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agent), a duly completed and executed Borrowing Request to the Administrative Agent (ai) in the case of a Revolving Eurodollar Borrowing, not later than 12:00 1:00 p.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent), three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (bii) in the case of Term Loan Borrowings to be made on the Closing Datean ABR Borrowing, not later than 12:00 p.m.noon, New York City timetime (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent), one (1) one Business Day before the date of the proposed Borrowing. Each Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Borrowing of Revolving Loans or Term Loans;
(b) the aggregate amount of such Borrowing;
(cb) the date of such Borrowing, which shall be a Business Day;
(dc) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(ed) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
(fe) the location and number of the account to which funds are to be disbursed, which shall comply with the requirements of Section 2.02(c); and
(gf) with respect to each Credit Extension made after the Closing Date, that the conditions set forth in Section 4.02(b) and Section 4.02(c) will be satisfied or waived as of the date the requested Borrowing is made. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar Borrowing with an Interest Period of one month’s duration. If the Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will be deemed to have specified an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Sources: Second Lien Credit Agreement (Transfirst Holdings Corp.)
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the Borrower shall deliver, by facsimile hand delivery or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agentfacsimile, a duly completed and executed Borrowing Request to the Administrative Agent (ai) in the case of a Revolving Eurodollar Borrowing, not later than 12:00 p.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent), three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (b) in the case of Term Loan Borrowings to be made on the Closing Date, not later than 12:00 p.m., New York City time, three Business Days before the date of the proposed Borrowing or (1ii) in the case of an ABR Borrowing, not later than 12:00 p.m., New York City time, one Business Day before the date of the proposed Borrowing. Each Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Borrowing of Revolving Loans or Term Loans;
(b) the aggregate amount of such Borrowing;
(cb) the date of such Borrowing, which shall be a Business Day;
(dc) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(ed) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;; and
(fe) the location and number of the Borrower’s account to which funds are to be disbursed; and
(g) , which shall comply with respect to each Credit Extension made after the Closing Date, that the conditions set forth in requirements of Section 4.02(b) and Section 4.02(c) will be satisfied or waived as of the date the requested Borrowing is made2.04. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar Borrowing with an ABR Borrowing. If no Interest Period of one month’s duration. If the is specified with respect to any requested Eurodollar Borrowing, then Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will shall be deemed to have specified selected an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Sources: Credit Agreement (Stockbridge/Sbe Investment Company, LLC)
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the Borrower shall deliver, by facsimile hand delivery or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agenttelecopy, a duly completed and executed Borrowing Request to the Administrative Agent (ai) in the case of a Revolving Eurodollar Borrowing, not later than 12:00 p.m.11:00 a.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent)time, three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (bii) in the case of Term Loan Borrowings to be made on the Closing Datean ABR Borrowing, not later than 12:00 p.m.noon, New York City time, (1) one Business Day before on the date of the proposed Borrowing. Each Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Borrowing of Revolving Loans or Term Loans;
(b) the aggregate amount of such Borrowing;
(c) the date of such Borrowing, which shall be a Business Day;
(d) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(e) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “"Interest Period”"; provided that until the date on which the Arrangers shall have notified Borrower and the Administrative Agent that a Successful Syndication has been achieved, the Interest Period shall be seven days;
(f) the location and number of the Borrower's account to which funds are to be disbursed, which shall comply with the requirements of Section 2.02(c); and
(g) with respect to each Credit Extension made after the Closing Date, that the conditions set forth in Section Sections 4.02(b) and Section 4.02(c) will be through (d), inclusive, have been satisfied or waived as of the date of the requested Borrowing is madenotice. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a an ABR Borrowing. If no Interest Period is specified with respect to any requested Eurodollar Borrowing with Revolving Borrowing, then Borrower shall be deemed to have selected an Interest Period of one month’s duration. If 's duration (subject to the Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will be deemed to have specified an Interest Period of one month’s durationproviso in clause (e) above). Promptly following receipt of a Borrowing Request in accordance with this Section 2.03Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s 's Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the applicable Borrower shall deliver, by facsimile hand delivery or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agenttelecopy, a duly completed and executed Borrowing Request to the Administrative Agent (ai) in the case of a Revolving Eurodollar Borrowing, not later than 12:00 p.m.11:00 a.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent)time, three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (bii) in the case of Term Loan Borrowings to be made on the Closing Datean ABR Borrowing, not later than 12:00 p.m.10:00 a.m., New York City time, (1) one Business Day before on the date of the proposed Borrowing. Each Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Borrowing of Revolving Loans, U.S. Term Loans or Canadian Term Loans;
(b) the aggregate amount of such Borrowing;
(c) the date of such Borrowing, which shall be a Business Day;
(d) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(e) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”; provided that until the earlier of (x) the date on which the Syndication Agent shall have notified U.S. Borrower that a Successful Syndication has been achieved and (y) 60 days after the Fourth Amendment Effectiveness Date, the Interest Period for any U.S. Term B-2 Loans shall be seven days;
(f) the location and number of the applicable Borrower’s account to which funds are to be disbursed, which shall comply with the requirements of Section 2.02(c); and
(g) with respect to each Credit Extension made after the Closing Date, that the conditions set forth in Section Sections 4.02(b) and Section 4.02(cthrough (d) will be have been satisfied or waived as of the date of the requested Borrowing is madenotice. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a an ABR Borrowing. If no Interest Period is specified with respect to any requested Eurodollar Borrowing with Revolving Borrowing, then the applicable Borrower shall be deemed to have selected an Interest Period of one month’s duration. If duration (subject to the Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will be deemed to have specified an Interest Period of one month’s durationproviso in clause (e) above). Promptly following receipt of a Borrowing Request in accordance with this Section 2.03Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the Borrower shall delivernotify the Agent of such request (each, by facsimile or other electronic transmission if arrangements for doing so have been approved a “Borrowing Request”) in writing (including via emailby email transmission) by the Administrative Agent, a duly completed and executed Borrowing Request to the Administrative Agent (a) in the case of a Revolving SOFR Borrowing, not later than 12:00 p.m.10:30 a.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent)time, three (3) U.S. Government Securities Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (b) in the case of Term Loan Borrowings to be made on the Closing Datean ABR Borrowing, not later than 12:00 p.m.10:30 a.m., New York City time, (1) one Business Day before on the date of the proposed Borrowing. Each such written Borrowing Request shall be irrevocable and shall be confirmed by email transmission to the Agent of a written Borrowing Request (in PDF format) in substantially the form of Exhibit E. Each such written Borrowing Request shall specify the following information in compliance with Section 2.02:
(ai) whether the principal amount of the requested Borrowing is to be a Borrowing of Revolving Loans or Term Loans;
(b) the aggregate amount of such Borrowing;
(cii) the date of such Borrowing, which shall be a Business Day;
(diii) whether such Borrowing is to be an ABR Borrowing or a Eurodollar SOFR Borrowing;
(eiv) in the case of a Eurodollar SOFR Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;; and
(fv) the location and number of the Borrower’s account to which funds are to be disbursed; and
(g) , which shall comply with respect to each Credit Extension made after the Closing Date, that the conditions set forth in requirements of Section 4.02(b) and Section 4.02(c) will be satisfied or waived as of the date the requested Borrowing is made2.04. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar Borrowing an ABR Borrowing. If no Interest Period is specified with respect to any requested SOFR Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. If the Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will be deemed to have specified an Interest Period of one month’s month duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Sources: Five Year Revolving Credit Agreement (Artisan Partners Asset Management Inc.)
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the Borrower shall deliver, by facsimile hand delivery or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agenttelecopier, a duly completed and executed Borrowing Request to the Administrative Agent (ai) in the case of a Revolving Eurodollar Borrowing, not later than 12:00 p.m.11:00 a.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent)time, three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (bii) in the case of Term Loan Borrowings to be made on the Closing Datean ABR Borrowing, not later than 12:00 p.m.9:00 a.m., New York City time, (1) one Business Day before on the date of the proposed Borrowing. Each Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Borrowing of Revolving Loans or Term Loans;
(b) the aggregate amount of such Borrowing;
(c) the date of such Borrowing, which shall be a Business Day;
(d) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(e) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
(f) the location and number of the Borrower’s account to which funds are to be disbursed, which shall comply with the requirements of Section 2.02(c); and
(g) with respect to each Credit Extension made after the Closing Date, that the conditions set forth in Section 4.02(bSections 4.02(b)-(c) and Section 4.02(c) will be have been satisfied or waived as of the date of the requested Borrowing is madenotice. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar Borrowing with an ABR Borrowing. If no Interest Period of one month’s duration. If the is specified with respect to any requested Eurodollar Borrowing, then Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will shall be deemed to have specified selected an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the Borrower shall deliver, by facsimile or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agent, a duly completed and executed Borrowing Request to notify the Administrative Agent of such request by telephone (apromptly confirmed by fax) (i) in the case of a Revolving Eurodollar Borrowing, not later than 12:00 p.m.11:00 a.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent)time, three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (bii) in the case of Term Loan Borrowings to be made on the Closing Datean ABR Borrowing (other than Swingline Loans), not later than 12:00 p.m.9:00 a.m., New York City time, (1) one on the Business Day before the date of the proposed Borrowing. Each such telephonic Borrowing Request shall be irrevocable and shall be confirmed promptly by hand delivery or fax to the Administrative Agent of a written Borrowing Request in a form approved by the Administrative Agent and signed by Borrower. Each such telephonic and written Borrowing Request shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Borrowing of Revolving Loans or Term LoansBorrowing;
(b) the aggregate amount of such Borrowing;
(c) the date of such Borrowing, which shall be a Business Day;
(d) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(e) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”; provided that until the earlier of (i) the date on which the Administrative Agent shall have notified Borrower that the primary syndication of the Commitments has been completed and (ii) the date which is 60 days after the Closing Date, the Interest Period shall be two weeks;
(f) the location and number of the Borrower’s account to which funds are to be disbursed, which shall comply with the requirements of Section 2.02; and
(g) with respect to each Credit Extension made after the Closing Date, that the conditions set forth in Section 4.02(b4.02 (b) and Section 4.02(c(c) will be are satisfied or waived as of the date of the requested Borrowing is madenotice. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a an ABR Borrowing. If no Interest Period is specified with respect to any requested Eurodollar Borrowing with Borrowing, then Borrower shall be deemed to have selected an Interest Period of one month’s duration. If duration (subject to the Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will be deemed to have specified an Interest Period of one month’s durationproviso in clause (e) above). Promptly following receipt of a Borrowing Request in accordance with this Section 2.03, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the Borrower Agent shall deliver, by hand delivery, facsimile (or by telephone confirmed promptly in writing by facsimile or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agent), a duly completed and executed Borrowing Request to the Administrative Agent (ai) in the case of a Revolving Eurodollar Borrowing, not later than 12:00 1:00 p.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent), three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (bii) in the case of Term Loan Borrowings to be made on the Closing Datean ABR Borrowing, not later than 12:00 p.m.noon, New York City timetime (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent), one (1) one Business Day before the date of the proposed Borrowing. Each Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Borrowing of Revolving Loans or Term Loans;
(b) the aggregate amount of such Borrowing;
(c) the date of such Borrowing, which shall be a Business Day;
(d) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(e) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
(f) the location and number of the account to which funds are to be disbursed, which shall comply with the requirements of Section 2.02(c); and
(g) with respect to each Credit Extension made after the Closing Date, that the conditions set forth in Section 4.02(b) and Section 4.02(c) will be satisfied or waived as of the date the requested Borrowing is made. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar Borrowing with an Interest Period of one month’s duration. If the Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will be deemed to have specified an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Sources: First Lien Credit Agreement (Transfirst Holdings Corp.)
Borrowing Procedure. To request a Revolving Borrowing or Term Loan BorrowingLoans (other than Swingline Loans), the Borrower shall deliver, by facsimile or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agent, deliver a duly completed and executed Borrowing Request to the Administrative Agent (aa)(i) in the case of a Revolving Borrowing, not later than 12:00 p.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent), three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (b) in the case of Term Loan Borrowings Eurodollar Loans to be made on the Closing Date, not later than 12:00 p.m.11:00 a.m., New York City timeone Business Day before the date of the proposed Borrowing and (ii) in the case of Eurodollar Loans to be made after the Closing Date, not later than 11:00 a.m., three Business Days before the date of the proposed Borrowing (provided, that, with respect to clauses (a)(i) and (a)(ii) above, if Borrower wishes to request an Interest Period for such Eurodollar Loans having a duration other than one, three or six months as provided in the definition of “Interest Period,” the applicable Borrowing Request must be received by the Administrative Agent not later than 11:00 a.m. four Business Days prior to the requested date of such Borrowing), (1b) in the case of Alternate Currency Revolving Loans (other than any Special Notice Currency), not later than 11:00 a.m., four Business Days before the date of
(i) on the date of the proposed Borrowing if the proposed Borrowing is in an aggregate amount equal to or less than $20.0 million and (ii) one Business Day before the date of the proposed BorrowingBorrowing if the proposed Borrowing is in an aggregate amount in excess of $20.0 million. Each Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.02:
: (aA) whether the requested Borrowing is to be a Revolving Borrowing, a Term Borrowing, an Incremental Term Borrowing of Revolving Loans or a Replacement Term Loans;
Borrowing; (bB) the aggregate amount of such Borrowing;
; (cC) the date of such Borrowing, which shall be a Business Day;
; (dD) whether such Borrowing is to be an a ABR Borrowing, Eurodollar Borrowing, Alternate Currency Daily Rate Borrowing or a Eurodollar Alternate Currency Term Rate Borrowing;
; (eE) in the case of a Eurodollar Borrowing or an Alternate Currency Term Rate Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
” (fit being understood and agreed that the Administrative Agent shall give prompt notice to the appropriate Lenders of any request for an Interest Period having a duration other than one, three or six months as provided in the definition of “Interest Period,” and, not later than 11:00 a.m., (x) three Business Days before the requested date of such Borrowing denominated in dollars, or (y) four Business Days (or five Business Days in the case of a Special Notice Currency) prior to the requested date of such Borrowing denominated in an Alternate Currency, the Administrative Agent shall notify Borrower (which notice may be by telephone) whether or not the requested Interest Period has been consented to by all the appropriate Lenders); (F) the location and number of the Borrower’s account to which funds are to be disbursed; and
(gG) with respect to each Credit Extension made after the Closing Date, that the conditions set forth in Section Sections 4.02(b), (d) and Section 4.02(c(f) will be have been satisfied or waived as of the date of the requested notice; and (H) in the case of Alternate Currency Daily Rate Borrowing is madeor an Alternate Currency Term Rate Borrowing, the Alternate Currency for such Borrowing. If no election as to the Type of Loans is specified for Borrowings in dollars, then the requested Borrowing shall be for ABR Loans. If no election as to the currency of Loans is specified, then the requested Borrowing shall be a in dollars. If no Interest Period is specified in the applicable Borrowing Request with respect to any requested Eurodollar Borrowing with or an Alternate Currency Term Rate Borrowing, then Borrower shall be deemed to have selected an Interest Period of (x) three months, in the case of a Eurodollar Term Borrowing, a Eurodollar Incremental Term Borrowing, or a Eurodollar Replacement Term Borrowing, and (y) one month’s duration. If , in the Borrower requests case of a Eurodollar Revolving Borrowing but fails to specify or an Interest PeriodAlternate Currency Term Rate Borrowing. During the existence of a Default, no new Loans may be requested as Eurodollar Loans or Alternate Currency Revolving Loans without the Borrower will be deemed to have specified an Interest Period consent of one month’s durationthe Required Lenders. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03, the Administrative Agent shall advise each applicable Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Borrowing Procedure. (a) To request a Revolving Borrowing or Term Loan Borrowing, the Borrower shall delivernotify the Agent of such request (each, by facsimile or other electronic transmission if arrangements for doing so have been approved in writing (including via emaila “Borrowing Request”) by the Administrative Agent, a duly completed and executed Borrowing Request to the Administrative Agent telephone (a) in the case of a Revolving Eurodollar Borrowing, not later than 12:00 p.m.10:30 a.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent)time, three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (b) in the case of Term Loan Borrowings to be made on the Closing Datean ABR Borrowing, not later than 12:00 p.m.10:30 a.m., New York City time, (1) one Business Day before on the date of the proposed Borrowing. Each such telephonic Borrowing Request shall be irrevocable and shall be confirmed promptly by hand delivery or telecopy to the Agent of a written Borrowing Request in substantially the form of Exhibit E. Each such telephonic and written Borrowing Request shall specify the following information in compliance with Section 2.02:
(ai) whether the principal amount of the requested Borrowing is to be a Borrowing of Revolving Loans or Term Loans;
(b) the aggregate amount of such Borrowing;
(cii) the date of such Borrowing, which shall be a Business Day;
(diii) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(eiv) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;; and
(fv) the location and number of the Borrower’s account to which funds are to be disbursed; and
(g) , which shall comply with respect to each Credit Extension made after the Closing Date, that the conditions set forth in requirements of Section 4.02(b) and Section 4.02(c) will be satisfied or waived as of the date the requested Borrowing is made2.04. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a an ABR Borrowing. If no Interest Period is specified with respect to any requested Eurodollar Borrowing with Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. If the Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will be deemed to have specified an Interest Period of one month’s month duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Sources: Revolving Credit Agreement (Artisan Partners Asset Management Inc.)
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the Borrower shall deliver, hand deliver or transmit by facsimile transmission (or transmit by other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agent), a duly completed and executed Borrowing Request to the Administrative Agent (ai) in the case of a Revolving Eurodollar Borrowing, not later than 12:00 1:00 p.m., New York City London time, on the third Business Day before the date of the proposed Borrowing (or such later date and time as may be reasonably acceptable to the Administrative Agent) or (ii) in the case of an ABR Borrowing, not later than 11:00 a.m., London time, on the Business Day of the proposed Borrowing (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent), three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (b) in the case of Term Loan Borrowings to be made on the Closing Date, not later than 12:00 p.m., New York City time, (1) one Business Day before the date of the proposed Borrowing. Each Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Borrowing of Revolving Loans or Term Loans;
(b) the aggregate amount of such Borrowing;
(cb) the date of such Borrowing, which shall be a Business Day;
(dc) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(ed) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
(fe) the location and number of the Borrower’s account to which funds are to be disbursed, which shall comply with the requirements of Section 2.02(c); and
(gf) with respect to each Credit Extension made after the Closing Date, that the applicable conditions set forth in Section Sections 4.02(b), (c) and Section 4.02(c(d) will be are satisfied or waived as of the date of the requested Borrowing is madenotice. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar Borrowing with an ABR Borrowing. If no Interest Period of one month’s duration. If the is specified with respect to any requested Eurodollar Borrowing, then Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will shall be deemed to have specified selected an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Revolving Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Sources: Credit Agreement
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the Borrower shall deliver, by facsimile hand delivery or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agenttelecopy, a duly completed and executed Borrowing Request to the Administrative Agent (ai) in the case of a Revolving Eurodollar Borrowing, not later than 12:00 p.m.11:00 a.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent)time, three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (bii) in the case of Term Loan Borrowings to be made on the Closing Datean ABR Borrowing, not later than 12:00 p.m.11:00 a.m., New York City time, (1) one Business Day before on the date of the proposed Borrowing. Each Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Borrowing of Tranche A-1 Revolving Loans or Term Loans;
(b) the aggregate amount of such Borrowing;
(c) the date of such Borrowing, which shall be a Business Day;
(d) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(e) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”; provided that until the date on which the Syndication Agent shall have notified Borrower that a Successful Syndication has been achieved, the Interest Period shall be seven days;
(f) the location and number of the Borrower’s account to which funds are to be disbursed, which shall comply with the requirements of Section 2.02(c); and
(g) with respect to each Credit Extension made after the Closing Date, that the conditions set forth in Section 4.02(bSections 4.02(b)-(d) and Section 4.02(c) will be have been satisfied or waived as of the date of the requested Borrowing is madenotice. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a an ABR Borrowing. If no Interest Period is specified with respect to any requested Eurodollar Borrowing with Revolving Borrowing, then Borrower shall be deemed to have selected an Interest Period of one month’s duration. If duration (subject to the Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will be deemed to have specified an Interest Period of one month’s durationproviso in clause (e) above). Promptly following receipt of a Borrowing Request in accordance with this Section 2.03Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Sources: Credit Agreement (PGT, Inc.)
Borrowing Procedure. To request a Revolving Borrowing Credit Extension, Parent Borrower (on behalf of itself or Term Loan Borrowing, the Borrower Subsidiary Borrower) shall deliver, by facsimile hand delivery or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agenttelecopier, a duly completed and executed Borrowing Request to the Administrative Agent (ai) in the case of a Revolving Eurodollar Borrowing, not later than 12:00 p.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent), three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (b) in the case of Term Loan Borrowings to be made on the Closing Date, not later than 12:00 p.m., New York City time, three Business Days before the date of the proposed Borrowing or (1ii) in the case of an ABR Borrowing, not later than 12:00 p.m., New York City time, one Business Day before the date of the proposed Borrowing. Each Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Borrowing of Revolving Loans or Term Loans;
(b) the aggregate amount of such Borrowing;
(cb) the date of such Borrowing, which shall be a Business Day;
(dc) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(ed) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
(fe) the location and number of the Borrowers’ account to which funds are to be disbursed, which shall comply with the requirements of Section 2.02(c); and
(gf) with respect to each Credit Extension made after the Closing Date, that the conditions set forth in Section 4.02(bSections 4.01(s)-(u) and Section 4.02(c) will be have been satisfied or waived as of the date of the requested Borrowing is madenotice. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar Borrowing with an ABR Borrowing. If no Interest Period of one month’s duration. If the Borrower requests a is specified with respect to any requested Eurodollar Borrowing but fails to specify an Interest PeriodBorrowing, the Borrower will then Borrowers shall be deemed to have specified selected an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the applicable Borrower shall deliver, by facsimile hand delivery or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agenttelecopy, a duly completed and executed Borrowing Request to the Administrative Agent (ai) in the case of a Revolving Eurodollar Borrowing, not later than 12:00 p.m.11:00 a.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent)time, three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (bii) in the case of Term Loan Borrowings to be made on the Closing Datean ABR Borrowing, not later than 12:00 p.m.10:00 a.m., New York City time, (1) one Business Day before on the date of the proposed Borrowing. Each Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Borrowing of Revolving Loans, U.S. Term B-3 Loans or Canadian Term Loans;
(b) the aggregate amount of such Borrowing;
(c) the date of such Borrowing, which shall be a Business Day;
(d) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(e) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”; provided that until 60 days after the Fifth Amendment Effectiveness Date, the Interest Period for any U.S. Term B-3 Loans shall be, at the option of Borrower, seven days, one, two or three months;
(f) the location and number of the applicable Borrower’s account to which funds are to be disbursed, which shall comply with the requirements of Section 2.02(c); and
(g) with respect to each Credit Extension made after the Closing Date, that the conditions set forth in Section Sections 4.02(b) and Section 4.02(cthrough (d) will be have been satisfied or waived as of the date of the requested Borrowing is madenotice. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a an ABR Borrowing. If no Interest Period is specified with respect to any requested Eurodollar Borrowing with Revolving Borrowing, then the applicable Borrower shall be deemed to have selected an Interest Period of one month’s duration. If duration (subject to the Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will be deemed to have specified an Interest Period of one month’s durationproviso in clause (e) above). Promptly following receipt of a Borrowing Request in accordance with this Section 2.03Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the Lead Borrower shall deliver, notify the Administrative Agent of such request by facsimile telecopy or other electronic transmission (if arrangements for doing so have been approved in writing (including via email) by the Administrative Agent, a duly completed and executed Borrowing Request to the Administrative Agent which approval shall not be unreasonably withheld, conditioned or delayed) or telephone (apromptly confirmed by telecopy or electronic transmission) (i) in the case of a Revolving BorrowingBorrowing of LIBOTerm SOFR Rate Loans, not later than 12:00 1:00 p.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent)time, three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (bii) in the case of Term Loan Borrowings to be made on the Closing Datea Borrowing of Base Rate Loans (other than Swingline Loans), not later than 12:00 1:00 p.m., New York City time, (1) one Business Day before on the date of the proposed Borrowing. Notwithstanding the 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 consent of the Administrative Agent, in each case as provided in the definition of “Interest Period,” the applicable notice must be received by the Administrative 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. 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 (which notice may be by telephone) 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 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 Lead Borrower. Each such telephonic and written Notice of Borrowing shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Borrowing of Revolving Loans or Term Loans;
(b) : the aggregate amount of such Borrowing;
(c) ; the date of such Borrowing, which shall be a Business Day;
(d) ; whether such Borrowing is to be an ABR a Borrowing of Base Rate Loans or a Eurodollar Borrowing;
(e) Borrowing of LIBOTerm SOFR Rate Loans; in the case of a Eurodollar BorrowingBorrowing of LIBOTerm SOFR Rate Loans, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
(f) ; and the location and number of the account to which funds are to be disbursed; and
(g) , which shall comply with respect to each Credit Extension made after the Closing Date, that the conditions set forth in requirements of Section 4.02(b) and Section 4.02(c) will be satisfied or waived as of the date the requested Borrowing is made2.02. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar Borrowing with an of Base Rate Loans. If no Interest Period is specified with respect to any requested Borrowing of one month’s duration. If the LIBOTerm SOFR Rate Loans, then Lead Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will shall be deemed to have specified selected an Interest Period of one month’s duration. Promptly following receipt of a Notice of Borrowing Request in accordance with this Section 2.03, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the Borrower shall deliver, by facsimile hand delivery or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agentfacsimile, a duly completed and executed Borrowing Request to the Administrative Agent (ai) in the case of a Revolving Eurodollar Borrowing, not later than 12:00 p.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent), three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (b) in the case of Term Loan Borrowings to be made on the Closing Date, not later than 12:00 p.m., New York City time, three Business Days before the date of the proposed Borrowing or (1ii) in the case of an ABR Borrowing, not later than 12:00 p.m., New York City time, one Business Day before the date of the proposed Borrowing. Each Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Borrowing of Revolving Loans or Term Loans;
(b) the aggregate amount of such Borrowing;
(cb) the date of such Borrowing, which shall be a Business Day;
(dc) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(ed) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
(fe) the location and number of the Borrower’s account to which funds are to be disbursed, which shall comply with the requirements of Section 2.04; and
(gf) in the case of a Second Amendment Amenities CapEx Borrowing, accompanied by a certificate of a Responsible Officer of the Borrower (i) identifying the item(s) on Annex A to Schedule 3.12 to the Second Amendment that are to be paid with respect the proceeds of such Second Amendment Amenities CapEx Borrowing, (ii) setting forth (x) the aggregate amount of Second Amendment Amenities CapEx Borrowings made at any time prior to each Credit Extension such Second Amendment Amenities CapEx Borrowing and (y) the aggregate amount of Second Amendment Amenities CapEx Borrowings made after giving effect to the Closing Datemaking of such Second Amendment Amenities CapEx Borrowing (which shall in no event exceed $10,000,000 as such amount may be adjusted as provided on Schedule 3.12 to the Second Amendment), (iii) certifying that all proceeds of any previously advanced Second Amendment Amenities CapEx Borrowing have been applied consistent with Annex A to Schedule 3.12 to the conditions Second Amendment and (iv) attaching a schedule setting forth with specificity (x) the proposed application of the proceeds of such Second Amendment Amenities CapEx Borrowing and (y) the actual application of proceeds of previously advanced Second Amendment Amenities CapEx Borrowings to specific expenditures associated therewith to the extent not set forth on a prior such schedule. Administrative Agent will promptly forward a copy of each such certificate to the Lenders. Administrative Agent shall have three (3) Business Days to review each such certificate and the related request for a Second Amendment Amenities CapEx Borrowing. Such Second Amendment Amenities CapEx Borrowing shall be funded not later than the expiration of such three-Business Day period unless, within such three-Business Day period, Administrative Agent notifies Borrower in Section 4.02(b) and Section 4.02(c) will be satisfied or waived as of writing that such Second Amendment Amenities CapEx Borrowing does not comply with the date terms hereof (together with reasonable detail regarding the requested Borrowing is madebasis for such determination). If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar Borrowing with an ABR Borrowing. If no Interest Period of one month’s duration. If the is specified with respect to any requested Eurodollar Borrowing, then Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will shall be deemed to have specified selected an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.”
(OO) Section 2.04 of the Credit Agreement is hereby amended to (a) change each reference to a “Loan” in such section to “Revolving Loan” and (b) change each reference to a “Lender” in such section to “Revolving Loan Lender”.
(PP) Section 2.05(a) and (c) of the Credit Agreement is hereby amended to (a) change each reference to a “Loan” in such section to “Revolving Loan” and (b) change each reference to a “Lender” in such section to “Revolving Loan Lender”.
(QQ) Section 2.06(c) and (d) of the Credit Agreement is hereby amended to change each reference to a “Lender” in such section to “Revolving Loan Lender”.
Appears in 1 contract
Sources: Revolving Credit Agreement
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the Borrower shall deliver, by facsimile or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agent, a duly completed and executed Borrowing Request to notify the Administrative Agent of such request by telephone (promptly confirmed by telecopy)
(a) in the case of a Revolving Eurodollar Borrowing, not later than 12:00 1:00 p.m., New York City time time, three Business Days before the date of the proposed Borrowing or (or such b) in the case of an ABR Borrowing, not later time on such than 1:00 p.m., New York City time, one Business Day as may be reasonably acceptable to the Administrative Agent), three (3) Business Days before the date of the proposed Borrowing; provided that a any such notice of an ABR Revolving Borrowing to finance the reimbursement of an LC Disbursement as contemplated by Section 2.18(e) may not be requested more than twice per calendar month, or (b) in the case of Term Loan Borrowings to be made on the Closing Date, given not later than 12:00 p.m.11:00 a.m., New York City time, (1) one Business Day before on the date of the proposed Borrowing. Each such telephonic Borrowing Request shall be irrevocable and shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written Borrowing Request in a form approved by the Administrative Agent and signed by Borrower. Each such telephonic and written Borrowing Request shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Revolving Borrowing of Revolving Loans or a Term LoansBorrowing;
(b) the aggregate amount of such Borrowing;
(c) the date of such Borrowing, which shall be a Business Day;
(d) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(e) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “"Interest Period”;"; provided that until the earlier of (i) the date which is 30 days after the Closing Date and (ii) the date on which a successful syndication of the Loans and Commitments shall have been declared by the Joint Lead Arrangers, Borrower shall only be permitted to request an Interest Period of seven days; and
(f) the location and number of the Borrower's account to which funds are to be disbursed; and
(g) , which shall comply with respect to each Credit Extension made after the Closing Date, that the conditions set forth in requirements of Section 4.02(b) and Section 4.02(c) will be satisfied or waived as of the date the requested Borrowing is made. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar Borrowing with an Interest Period of one month’s duration. If the Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will be deemed to have specified an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing2.
Appears in 1 contract
Sources: Credit Agreement (Communications & Power Industries Inc)
Borrowing Procedure. (a) To request a Revolving Borrowing or Term Loan Borrowing, the Borrower Designated Company shall deliver, by facsimile or other electronic transmission if arrangements for doing so have been approved in writing (including via email) hand delivery, telecopier or, to the extent separately agreed by the Administrative Agent, by an electronic communication in accordance with the second sentence of Section 11.01(b) and the second 1160381.015-CHISR02A - MSW paragraph of Section 11.01(d), a duly completed and executed Borrowing Request to the Administrative Agent (a) in the case of a Revolving Borrowing, not later than 12:00 p.m.10:00 a.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent)London time, three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (b) in the case of Term Loan Borrowings to be made on the Closing Date, not later than 12:00 p.m., New York City time, (1) one Business Day before the date of the proposed Borrowing. Each Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.02:
(ai) whether the requested Borrowing is to be a Borrowing names of Revolving Loans or Term Loans;
(bthe Co-Borrower(s) requesting such Borrowing(s) and the aggregate amount of such BorrowingBorrowing(s), together with a schedule attached to such Borrowing Request, which schedule shall specify the amount required to be funded by each Aleris Incremental Term Lender based on its pro rata share of the Aleris Incremental Term Loan Commitments (and which amount shall not exceed such Aleris Incremental Term Lender’s Aleris Incremental Term Loan Commitment), which amount shall give effect to any net funding in respect thereof in accordance with the terms of the applicable Fee Letters, and which schedule shall clearly indicate each Aleris Incremental Term Lender that is net funding (for the avoidance of doubt, only arranger fees may be net funded);
(cii) the date of such BorrowingBorrowing(s), which shall be a Business Day;
Day (d) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(e) and in the case of a Eurodollar Borrowingthe Aleris Incremental Term Loans, (x) such Business Day shall occur on or prior to the Aleris Incremental Commitment Termination Date, and (y) such date shall be the date that the Aleris Incremental Term Loans are to be funded into the Escrow Account pursuant to Section 2.21);
(iii) the initial Interest Period to be applicable theretoto each such Borrowing, which shall be a period contemplated by the definition of the term “Interest Period”” (and, in the case of the initial Interest Period applicable to Aleris Incremental Term Loans funded into the Escrow Account, shall be an Interest Period of one month);
(fiv) the location and number of the account such Co-Borrowers’ account(s) to which funds are to be disbursed, which shall comply with the requirements of Section 2.02(c); provided that, in the case of a Borrowing of Aleris Incremental Term Loans, such account shall be the Escrow Account; and
(gv) with respect to each in the case of the initial Credit Extension made after hereunder, under the Closing DateAleris Incremental Term Loan Commitments or under any Incremental Term Loan Commitments, that the conditions set forth in Section 4.02(b4.03(b) and Section 4.02(c- (d) will be have been satisfied or waived as of the date of the requested Borrowing notice, and in the case of Aleris Incremental Term Loans, that the Aleris Acquisition Closing Date and the Aleris Incremental Funding Date is madeexpected to occur within three Business Days after the date designated pursuant to clause (ii) above, and that the conditions referred to in Section 6 of the Aleris Increase Joinder Amendment shall be satisfied on the Aleris Incremental Funding Date. If no election as 1160381.015-CHISR02A - MSW Subject to the Type second proviso in the definition of Borrowing “Interest Period,” and except as provided in Section 2.21, if no Interest Period is specifiedspecified with respect to any requested Eurodollar Rate Borrowing, then the requested Borrowing Co-Borrowers shall be a Eurodollar Borrowing with deemed to have selected an Interest Period of one month’s duration. If the Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will be deemed to have specified an Interest Period of one three month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Sources: Credit Agreement (Novelis Inc.)
Borrowing Procedure. To request In order to effect a Revolving Borrowing or Term Loan Borrowing, the Borrower shall deliver, hand deliver or telecopy (or transmit by facsimile or other electronic transmission if arrangements for doing so have been communications pursuant to procedures approved in writing (including via email) by the Administrative Agent, a duly completed and executed Borrowing Request ) to the Administrative Agent a Borrowing Request (a) in the case of a Revolving LIBOR Borrowing, not later than 12:00 p.m.11:00 a.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent)time, three (3) Business Working Days before the date of the a proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or and (b) in the case of Term Loan Borrowings to be made on the Closing Datean ABR Borrowing, not later than 12:00 p.m.11:00 a.m., New York City time, (1) one Business Day before on the date day of the a proposed Borrowing. Each Borrowing Request Such notice shall be irrevocable and shall in each case specify the following information in compliance with Section 2.02:
(aA) whether the Borrowing then being requested is to be a LIBOR Borrowing or an ABR Borrowing, (B) the date of such Borrowing (which shall be a Working Day) and the amount thereof and (C) if such Borrowing is to be a Borrowing of Revolving Loans or Term Loans;
(b) the aggregate amount of such Borrowing;
(c) the date of such Borrowing, which shall be a Business Day;
(d) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(e) in the case of a Eurodollar LIBOR Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
(f) the location and number of the account to which funds are to be disbursed; and
(g) with respect to each Credit Extension made after the Closing Date, that the conditions set forth in Section 4.02(b) and Section 4.02(c) will be satisfied or waived as of the date the requested Borrowing is madethereto. If no election as to the Interest Rate Type of a Borrowing is specifiedspecified in any such Borrowing Request, then the requested Borrowing shall be a Eurodollar an ABR Borrowing. If no Interest Period with respect to any LIBOR Borrowing with is specified in any such Borrowing Request, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. If the Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will be deemed to shall not have specified an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request given notice in accordance with this Section 2.032.5 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 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. The Administrative Agent shall promptly advise each Lender the applicable Lenders of the details thereof any notice given pursuant to this Section 2.5 and of the amount of each such Lender’s Loan to be made as part portion of the requested Borrowing.
Appears in 1 contract
Sources: Credit Agreement (PHH Corp)
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the Lead Borrower shall deliver, notify the Administrative Agent of such request by facsimile telecopy or other electronic transmission (if arrangements for doing so have been approved in writing (including via email) by the Administrative Agent, a duly completed and executed Borrowing Request to the Administrative Agent which approval shall not be unreasonably withheld, conditioned or delayed) or telephone (apromptly confirmed by telecopy) (i) in the case of a Revolving BorrowingBorrowing of LIBO Rate Loans, not later than 12:00 1:00 p.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent)time, three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (bii) in the case of Term Loan Borrowings to be made on the Closing Datea Borrowing of Base Rate Loans (other than Swingline Loans), not later than 12:00 1:00 p.m., New York City time, (1) one on the Business Day before the date of the proposed Borrowing. Each such telephonic Notice of Borrowing Request shall be irrevocable irrevocable, subject to Sections 2.09 and 3.01, and shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written Notice of Borrowing in a form approved by the Administrative Agent and signed by the Lead Borrower. Each such telephonic and written Notice of Borrowing shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Borrowing of Revolving Loans or Term Loans;
(b) the aggregate amount of such Borrowing;
(cb) the date of such Borrowing, which shall be a Business Day;
(dc) whether such Borrowing is to be an ABR a Borrowing of Base Rate Loans or a Eurodollar BorrowingBorrowing of LIBO Rate Loans;
(ed) in the case of a Eurodollar BorrowingBorrowing of LIBO Rate Loans, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
(fe) the location and number of the account to which funds are to be disbursed, which shall comply with the requirements of Section 2.02; and
(gf) with respect to each Credit Extension made after the Closing Date, that the conditions set forth in Section 4.02(b) and 6 or Section 4.02(c) will be 7, as applicable, are satisfied or waived as of the date of the requested Borrowing is madenotice. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar Borrowing of Base Rate Loans. If no Interest Period is specified with respect to any requested Borrowing of LIBO Rate Loans, then the Lead Borrower shall be deemed to have selected an Interest Period of one month’s duration. If duration (subject to the Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will be deemed to have specified an Interest Period of one month’s durationproviso in clause (d) above). Promptly following receipt of a Borrowing Request in accordance with this Section 2.03, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Borrowing Procedure. To request a Revolving Borrowing or an Incremental Term Loan Borrowing, the Borrower shall deliver, by facsimile hand delivery or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agenttelecopier, a duly completed and executed Borrowing Request to the Administrative Agent (ai) in the case of a Revolving Eurodollar Borrowing, not later than 12:00 p.m.11:00 a.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent)time, three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (bii) in the case of Term Loan Borrowings to be made on the Closing Datean ABR Borrowing, not later than 12:00 p.m.9:00 a.m., New York City time, (1) one Business Day before on the date of the proposed Borrowing. Each Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Borrowing of Revolving Loans or Incremental Term Loans;
(b) the aggregate amount of such Borrowing;
(c) the date of such Borrowing, which shall be a Business Day;
(d) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(e) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
(f) the location and number of the Borrower’s account to which funds are to be disbursed, which shall comply with the requirements of Section 2.02(c); and
(g) with respect to each Credit Extension made after the Closing Date, that the conditions set forth in Section Sections 4.02(b) and Section 4.02(c- (d) will be have been satisfied or waived as of the date of the requested Borrowing is madenotice. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar Borrowing with an ABR Borrowing. If no Interest Period of one month’s duration. If the is specified with respect to any requested Eurodollar Borrowing, then Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will shall be deemed to have specified selected an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the Borrower shall deliver, by facsimile hand delivery, telecopier or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agentpermitted under Section 10.01, a duly completed and executed Borrowing Request to the Administrative Agent (ai) in the case of a Revolving Eurodollar Borrowing, not later than 12:00 1:00 p.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent)time, three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (bii) in the case of Term Loan Borrowings to be made on the Closing Datean ABR Borrowing, not later than 12:00 p.m.noon, New York City time, (1) one Business Day before on the date of the proposed Borrowing. Each Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Borrowing of Revolving Loans or Term Loans;
(b) the aggregate amount of such Borrowing;
(c) the date of such Borrowing, which shall be a Business Day;
(d) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(e) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
(f) the location and number of the Borrower’s account to which funds are to be disbursed, which shall comply with the requirements of Section 2.02(c); and
(g) with respect to each Credit Extension made after the Closing Date, that the conditions set forth in Section 4.02(bSections 4.02(b)-(d) and Section 4.02(c) will be have been satisfied or waived as of the date of the requested Borrowing is madenotice. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar Borrowing with an ABR Borrowing. If no Interest Period of one month’s duration. If the is specified with respect to any requested Eurodollar Borrowing, then Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will shall be deemed to have specified selected an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the Borrower shall deliver, by facsimile hand delivery or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agenttelecopy, a duly completed and executed Borrowing Request to the Administrative Agent (ai) in the case of a Eurodollar Revolving BorrowingBorrowing in dollars, not later than 12:00 p.m.noon, New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent)time, three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (bii) in the case of Term Loan Borrowings to be made on the Closing Datean ABR Revolving Borrowing, not later than 12:00 1:00 p.m., New York City time, (1) one Business Day before on the date of the proposed Borrowing. Each Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Borrowing of Revolving Loans or Term Loans;
(b) the aggregate amount of such Borrowing;
(cb) the date of such Borrowing, which shall be a Business Day;
(dc) whether such Borrowing is to be an ABR Revolving Borrowing or a Eurodollar Revolving Borrowing;
(ed) in the case of a Eurodollar Revolving Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
(fe) the location and number of the Borrower’s account to which funds are to be disbursed, which shall comply with the requirements of Section 2.02; and
(gf) with respect to each Credit Extension made after the Closing Date, that the conditions set forth in Section 4.02(bSections 4.02 (b)-(e) and Section 4.02(c) will be are satisfied or waived as of the date of the requested Borrowing is madenotice. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar Borrowing with an ABR Revolving Borrowing. If no Interest Period of one month’s duration. If the is specified with respect to any requested Eurodollar Revolving Borrowing, then Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will shall be deemed to have specified selected an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Borrowing Procedure. To request a Borrowing under the Revolving Borrowing Credit Facility or Delayed Draw Term Loan BorrowingFacility, the Relevant Borrower shall deliver, by facsimile or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agent, a duly completed and executed Borrowing Request to notify the Administrative Agent of such request by telecopy or electronic transmission (ai) in the case of a Revolving BorrowingBorrowing of LIBOR Rate Loans, not later than 12:00 p.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent)time, three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or and (bii) in the case of Term Loan Borrowings to be made on the Closing Datea Borrowing of Base Rate Loans, not later than 12:00 p.m., New York City time, (1) one Business Day before the date of the proposed Borrowing. Each Borrowing Request Notwithstanding the foregoing, all Borrowings on the Closing Date shall be irrevocable Borrowings of Base Rate Loans, unless the Administrative Agent shall have received a satisfactory funding indemnity letter and advance written notice pursuant to the terms of this Section 2.03. Each such written Notice of Borrowing shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Borrowing of Revolving Loans or Term Loans;
(b) the aggregate amount of such Borrowing;
(cb) the date of such Borrowing, which shall be a Business Day;
(dc) whether such Borrowing is to be an ABR a Borrowing of Base Rate Loans or a Eurodollar BorrowingBorrowing of LIBOR Rate Loans;
(ed) in the case of a Eurodollar BorrowingBorrowing of LIBOR Rate Loans, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
(fe) the location and number of the account to which funds are to be disbursed;
(f) the Facility under which the Loans are to be borrowed;
(g) in the case of a Delayed Draw Term Loan Borrowing, the maturity date of such Delayed Draw Term Loans, which shall be six, seven, eight, nine or ten years from the date of such Borrowing; and
(gh) with respect to each Credit Extension made after the Closing Date, that the conditions set forth in Section 4.02(b) and 6 or Section 4.02(c) will be 7, as applicable, are satisfied or waived as of the date of the requested Borrowing is madenotice. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar Borrowing with an of Base Rate Loans. If no Interest Period is specified with respect to any requested Borrowing of one month’s duration. If LIBOR Rate Loans, then the Relevant Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will shall be deemed to have specified selected an Interest Period of one month’s duration. Promptly following receipt of a Notice of Borrowing Request in accordance with this Section 2.03, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the Borrower shall deliver, by facsimile hand delivery or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agenttelecopier, a duly completed and executed Borrowing Request to the Administrative Agent (ai) in the case of a Revolving Eurodollar Borrowing, not later than 12:00 p.m.11:00 a.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent)time, three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (bii) in the case of Term Loan Borrowings to be made on the Closing Datean ABR Borrowing, not later than 12:00 p.m.11:00 a.m., New York City time, (1) one Business Day before on the date of the proposed Borrowing. Each Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Borrowing of Revolving Loans or Term Loans;
(b) the aggregate amount of such Borrowing;
(c) the date of such Borrowing, which shall be a Business Day;
(d) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(e) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “"Interest Period”";
(f) the location and number of the Borrower's account to which funds are to be disbursed, which shall comply with the requirements of Section 2.02(c); and
(g) with respect to each Credit Extension made after the Closing Date, that the conditions set forth in Section Sections 4.02(b), (c) and Section 4.02(c(d)(ii) will be have been satisfied or waived as of the date of the requested Borrowing is madenotice. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a an ABR Borrowing. If no Interest Period is specified with respect to any requested Eurodollar Borrowing with Borrowing, then Borrower shall be deemed to have selected an Interest Period of one month’s duration. If the Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will be deemed to have specified an Interest Period of one month’s 's duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s 's Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the Borrower shall deliver, by facsimile hand delivery or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agenttelecopier, a duly completed and executed Borrowing Request to the Administrative Agent (ai) in the case of a Revolving Eurodollar Borrowing, not later than 12:00 p.m.noon, New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent)time, three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (bii) in the case of Term Loan Borrowings to be made on the Closing Datean ABR Borrowing, not later than 12:00 p.m.10:00 a.m., New York City time, (1) one Business Day before on the date of the proposed Borrowing. Each Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Borrowing of Revolving Loans or Term Loans;
(b) the aggregate amount of such Borrowing;
(cb) the date of such Borrowing, which shall be a Business Day;
(dc) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(ed) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “"Interest Period”";
(fe) the location and number of the Borrower's account to which funds are to be disbursed; and
(gf) with respect to each Credit Extension made after the Closing Date, that the conditions set forth in Section 4.02(bSections 4.02(b)-(c) and Section 4.02(c) will be have been satisfied or waived as of the date of the requested Borrowing is madenotice. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a an ABR Borrowing. If no Interest Period is specified with respect to any requested Eurodollar Borrowing with Borrowing, then Borrower shall be deemed to have selected an Interest Period of one month’s duration. If the Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will be deemed to have specified an Interest Period of one month’s 's duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s 's Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the Borrower shall deliver, notify the Administrative Agent of such request by facsimile or other electronic transmission (if arrangements for doing so have been approved in writing (including via email) by the Administrative Agent, a duly completed and executed Borrowing Request to the Administrative Agent which approval shall not be unreasonably withheld, conditioned or delayed) (ai) in the case of a Revolving BorrowingBorrowing of LIBO Rate Loans, not later than 12:00 1:00 p.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent)time, three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (bii) in the case of Term Loan Borrowings a Borrowing of CDOR Rate Loans, not later than 1:00 p.m., Toronto time, three Business Days before the date of the proposed Borrowing to be made on the Closing DateAdministrative Agent’s Toronto office or (iii) in the case of a Borrowing of Base Rate Loans (other than Swingline Loans), not later than 12:00 p.m.noon, New York City time, (1) one on the Business Day of the proposed Borrowing. Notwithstanding the foregoing, if the Borrower wishes to request LIBO Rate Loans having an Interest Period other than one, three or six months in duration, or if agreed to by all Lenders, twelve months or less than one month in duration with the consent of the Administrative Agent, in each case as provided in the definition of “Interest Period,” the applicable notice must be received by the Administrative Agent not later than 11:00 a.m. four Business Days before the date of the proposed Borrowing, whereupon the Administrative Agent shall give prompt notice to each Lender with a relevant Revolving Commitment of such request and determine whether the requested Interest Period is acceptable to all of them. Not later than 11:00 a.m., three Business Days before the proposed date of such Borrowing, the Administrative Agent shall notify the Borrower (which notice may be by telephone) whether or not the requested Interest Period has been consented to by such Lenders. Each such telephonic Notice of Borrowing Request shall be irrevocable irrevocable, subject to Sections 2.09 and 3.01, and shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written Notice of Borrowing in a form approved by the Administrative Agent and signed by the Borrower. Each such telephonic and written Notice of Borrowing shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Borrowing name of Revolving Loans or Term Loansthe Borrower;
(b) the aggregate amount of such Borrowing;
(c) the date of such Borrowing, which shall be a Business Day;
(d) whether such Borrowing is to be an ABR a Borrowing of Base Rate Loans, a Borrowing of LIBO Rate Loans or a Eurodollar BorrowingBorrowing of CDOR Rate Loans;
(e) in the case of a Eurodollar BorrowingBorrowing of LIBO Rate Loans or CDOR Rate Loans, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
(f) the location and number of the account to which funds are to be disbursed, which shall comply with the requirements of Section 2.02;
(g) the currency of the Borrowing;
(h) the amount of Eligible Cash as of the close of business on the Business Day prior to the date of such notice and the remaining Availability after adjusting for the proposed Borrowing; and
(gi) with respect to each Credit Extension made after the Closing Date, that the conditions set forth in Section 4.02(b) and Section 4.02(c) will be Article 6 or Article 7, as applicable, are satisfied or waived as of the date of the requested Borrowing is madenotice. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar Borrowing of Base Rate Loans (for Borrowings in U.S. Dollars) and CDOR Rate Loans with an Interest Period of one month’s duration (for Borrowings in Canadian Dollars). If no Interest Period is specified with respect to any requested Borrowing of LIBO Rate Loans or CDOR Rate Loans, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. If no currency is specified, then the Borrower requests a Eurodollar requested Borrowing but fails to specify an Interest Period, the Borrower will shall be deemed to have specified an Interest Period of one month’s durationmade in U.S. Dollars. Promptly following receipt of a Notice of Borrowing Request in accordance with this Section 2.03, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Sources: Revolving Credit Agreement (Custom Truck One Source, Inc.)
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the Borrower shall deliver, by facsimile or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agent, a duly completed and executed Borrowing Request to the Administrative Agent (a) in the case Each Borrowing of a Revolving BorrowingLoans shall be made on notice, given not later than (i) 12:00 p.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent), three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (b) in the case of Term Loan Borrowings to be made on the Closing Date, not later than 12:00 p.m.Noon, New York City time, (1) one on the third Business Day before prior to the date of the proposed Borrowing. Each Borrowing Request shall be irrevocable and shall specify (in the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be case of a Borrowing of Revolving Loans or Term to consist of LIBO Rate Loans;
) and (bii) 12:00 Noon, New York City time, on the Business Day of the proposed Borrowing (in the case of a Borrowing of Loans to consist of Base Rate Loans), by the Borrower to the Administrative Agent, which shall give to each Lender prompt notice thereof by facsimile transmission. Each such notice of a Borrowing of Loans shall be made in writing, in substantially the form of a Borrowing Request, specifying therein (i) the aggregate amount of such Borrowing;
(c) the requested date of such Borrowing, Borrowing (which shall be a Business Day;
), (dii) whether such Borrowing is to be an ABR Borrowing a LIBO Rate Loan or a Eurodollar Base Rate Loan, (iii) the requested aggregate amount of such Borrowing;
, (eiv) in the case of a Eurodollar BorrowingLIBO Rate Loan, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
therefor and (fv) the location and number of the Borrower's account to which funds are to be disbursed; and.
(gb) with respect Each Lender shall make each Loan to each Credit Extension be made after by it hereunder on the Closing Dateproposed date thereof by wire transfer of immediately available funds by 2:00 p.m., New York City time, to the account of the Administrative Agent most recently designated by it for such purpose by notice to the Lenders. The Administrative Agent will make such Loans available to the Borrower by promptly crediting the amounts so received, in like funds, to an account of the Borrower and designated by the Borrower in the applicable Borrowing Request; provided that Borrowings made to finance the conditions set forth reimbursement of an LC Disbursement as provided in Section 4.02(b2.6.6 shall be remitted by the Administrative Agent to the Issuing Lender specified in Section 2.6.6.
(c) and Section 4.02(c) will be satisfied or waived as of the date the requested Borrowing is made. If no election as to the Type type of Borrowing a Loan is specified, then the requested Borrowing Loan shall be a Eurodollar Borrowing with an Base Rate Loan. If no Interest Period of one month’s duration. If is specified with respect to any requested LIBO Rate Loan, then the Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will be deemed to have specified an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03, the Administrative Agent requested Loan shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made instead as part of the requested Borrowinga Base Rate Loan.
Appears in 1 contract
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the applicable Borrower shall deliver, by facsimile or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agentfacsimile, a duly completed and executed Borrowing Request to the Administrative Applicable Agent (ai) in the case of a Revolving Eurocurrency Borrowing or EURIBOR Borrowing, not later than 12:00 p.m.11:00 a.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent)Local Time, three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (bii) in the case of Term Loan Borrowings to be made on the Closing Datean ABR Borrowing, not later than 12:00 p.m.noon, New York City time, (1) one Business Day before the date of the proposed Borrowing. Each Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Borrowing Tranche of Revolving Loans or Term Loansrequested;
(b) the currency and the aggregate principal amount of such BorrowingBorrowing of each Tranche;
(c) the date of such Borrowing, which shall be a Business Day;
(d) whether such Borrowing is to be an ABR Borrowing, a Eurocurrency Borrowing or a Eurodollar EURIBOR Borrowing;
(e) in the case of a Eurodollar Eurocurrency Borrowing or EURIBOR Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
(f) the location and number of the applicable Borrower’s account to which funds are to be disbursed, which shall comply with the requirements of Section 2.05(a); and
(g) with respect to each Credit Extension made after the Closing Date, that the conditions set forth in Section 4.02(b) and Section 4.02(c) will be 4.02 have been satisfied (or waived in accordance with Section 10.02) as of the date of the notice. In respect of a Borrowing Request for a Revolving Borrowing, if no election as to the currency of such Revolving Borrowing is specified, then the requested Revolving Borrowing is madeshall be denominated in Euros. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be (i) an ABR Borrowing if denominated in dollars (unless such Borrowing is a Eurodollar Revolving Borrowing), (ii) a EURIBOR Borrowing with an if denominated in Euros, (iii) a Eurocurrency Borrowing if denominated in Sterling and (iv) a Eurocurrency Borrowing if a Revolving Borrowing denominated in dollars. If no Interest Period of one month’s duration. If is specified with respect to any requested Eurocurrency Borrowing or EURIBOR Borrowing, then the Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will Borrowers shall be deemed to have specified selected an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03, the Administrative Applicable Agent shall advise each applicable Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the Borrower shall deliver, by facsimile or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by notify the Administrative Agent, Agent of such request by telephone (promptly confirmed by telecopy) or by delivering a duly completed and executed Borrowing Request to the Administrative Agent (a) in the case of a Revolving Eurodollar Borrowing, not later than 12:00 2:00 p.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent)time, three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (b) in the case of Term Loan Borrowings to be made on the Closing Datean ABR Borrowing, not later than 12:00 2:00 p.m., New York City time, (1) one Business Day before the date of the proposed Borrowing; provided that, any such notice of an ABR Revolving Borrowing to finance the reimbursement of an LC Disbursement as contemplated by Section 2.17(e) may be given not later than 11:00 a.m., New York City time, on the date of the proposed Borrowing. Each such telephonic Borrowing Request shall be irrevocable and shall be confirmed not later than 3:00 p.m., New York City time, on such Business Day by hand delivery or telecopy to the Administrative Agent of a written Borrowing Request substantially in the form of Exhibit C and signed by Borrower. Each such telephonic and written Borrowing Request shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Borrowing of Revolving Loans or Term Loans;
(b) the aggregate amount of such Borrowing;
(cb) the date of such Borrowing, which shall be a Business Day;
(dc) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(ed) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;; and
(fe) the location and number of the Borrower’s account to which funds are to be disbursed; and
(g) , which shall comply with respect to each Credit Extension made after the Closing Date, that the conditions set forth in requirements of Section 4.02(b) and Section 4.02(c) will be satisfied or waived as of the date the requested Borrowing is made2.02. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar Borrowing with an ABR Borrowing. If no Interest Period of one month’s duration. If the is specified with respect to any requested Eurodollar Revolving Borrowing, then Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will shall be deemed to have specified selected an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Sources: Credit Agreement (Herbalife Ltd.)
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the Borrower shall deliver, by facsimile or The following procedures apply to Borrowings (other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agent, a duly completed than Competitive Borrowings and executed Borrowing Request to the Administrative Agent (a) in the case of a Revolving Borrowing, not later than 12:00 p.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent), three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (b) in the case of Term Loan Borrowings to be made on the Closing Date, not later than 12:00 p.m., New York City time, (1) one Business Day before the date of the proposed Borrowing. Each Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.02:Swing Line Loans):
(a) whether the requested Borrowing is to be Any Borrower may request a Borrowing by submitting to Administrative Agent a Borrowing Request. The Borrowing Request must be received by Administrative Agent no later than 11:00 a.m. on (i) the third (3rd) Business Day preceding the Borrowing Date for any Eurodollar Borrowing or (ii) the Business Day preceding the Borrowing Date for any Base Rate Borrowing. Administrative Agent shall promptly notify each Lender of Revolving Loans or Term Loans;its receipt of any Borrowing Request and its contents. A Borrowing Request is irrevocable and binding on the requesting Borrower.
(b) By 11:00 a.m. on the aggregate amount applicable Borrowing Date, each Lender shall remit its Pro Rata Part of each requested Borrowing by wire transfer to Administrative Agent pursuant to Administrative Agent's wire transfer instructions on Schedule 1 (or as otherwise directed by Administrative Agent) in funds that are available for immediate use by Administrative Agent. Subject to receipt of such Borrowing;funds, Administrative Agent shall make such funds available to the requesting Borrower in Dallas, Texas at 12:00 noon on such Borrowing Date (unless it has actual knowledge that any applicable condition precedent has not been satisfied by Borrowers).
(c) the date of such BorrowingAbsent contrary written notice from a Lender, which shall be a Business Day;
(d) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(e) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition Administrative Agent may assume that each Lender has made its Pro Rata Part of the term “Interest Period”;
(f) requested Borrowing available to Administrative Agent on the location and number of the account to which funds are to be disbursed; and
(g) with respect to each Credit Extension made after the Closing applicable Borrowing Date, that and Administrative Agent may, in reliance upon such assumption (but is not required to), make available to the conditions set forth in Section 4.02(brequesting Borrower a corresponding amount. If a Lender fails to make its Pro Rata Part of any requested Borrowing available to Administrative Agent on the applicable Borrowing Date, Administrative Agent may recover the applicable amount on demand (i) and Section 4.02(c) will be satisfied or waived as of from such Lender, together with interest at the Federal Funds Rate for the period commencing on the date the requested Borrowing is made. If no election as amount was made available to the Type of Borrowing is specifiedrequesting Borrower by Administrative Agent and ending on (but excluding) the date Administrative Agent recovers the amount from such Lender, or (ii) if such Lender fails to pay its amount upon demand, then from the requesting Borrower, together with interest at an annual interest rate equal to the rate applicable to the requested Borrowing shall be a Eurodollar for the period commencing on the Borrowing with an Interest Period of one month’s duration. If Date and ending on (but excluding) the Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will be deemed to have specified an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03, the date Administrative Agent shall advise each Lender of the details thereof and of recovers the amount from the requesting Borrower. No Lender is responsible for the failure of such Lender’s Loan any other Lender to be made as part make its Pro Rata Part of the requested any Borrowing.
Appears in 1 contract
Sources: Credit Agreement (Prologis Trust)
Borrowing Procedure. To request a Revolving Borrowing or Term Loan B Borrowing, the Borrower shall deliver, by facsimile or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agent, a duly completed and executed Borrowing Request to notify the Administrative Agent of such request by telephone (promptly confirmed by telecopy)
(a) in the case of a Revolving Eurodollar Borrowing, not later than 12:00 1:00 p.m., New York City time time, three Business Days before the date of the proposed Borrowing or (or such b) in the case of an ABR Borrowing, not later time on such than 1:00 p.m., New York City time, one Business Day as may be reasonably acceptable to the Administrative Agent), three (3) Business Days before the date of the proposed Borrowing; provided that a any such notice of an ABR Revolving Borrowing to finance the reimbursement of an LC Disbursement as contemplated by Section 2.18(e) may not be requested more than twice per calendar month, or (b) in the case of Term Loan Borrowings to be made on the Closing Date, given not later than 12:00 p.m.11:00 a.m., New York City time, (1) one Business Day before on the date of the proposed Borrowing. Each such telephonic Borrowing Request shall be irrevocable and shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written Borrowing Request in a form approved by the Administrative Agent and signed by Borrower. Each such telephonic and written Borrowing Request shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Revolving Borrowing of Revolving Loans or a Term LoansB Borrowing;
(b) the aggregate amount of such Borrowing;
(c) the date of such Borrowing, which shall be a Business Day;
(d) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(e) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “"Interest Period”;"; provided that until the earlier of (i) the date which is 30 days after the Closing Date and (ii) the date on which a successful syndication of the Loans and Commitments shall have been declared by the Joint Lead Arrangers, Borrower shall only be permitted to request an Interest Period of seven days; and
(f) the location and number of the Borrower's account to which funds are to be disbursed; and
(g) , which shall comply with respect to each Credit Extension made after the Closing Date, that the conditions set forth in requirements of Section 4.02(b) and Section 4.02(c) will be satisfied or waived as of the date the requested Borrowing is made. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar Borrowing with an Interest Period of one month’s duration. If the Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will be deemed to have specified an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing2.
Appears in 1 contract
Sources: Credit Agreement (Cpi Holdco Inc)
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the Borrower shall deliver, by facsimile or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agent, a duly completed and executed Borrowing Request to the Administrative Agent (a) in the case Each Borrowing of a Revolving BorrowingLoans shall be made on notice, given not later than (i) 12:00 p.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent), three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (b) in the case of Term Loan Borrowings to be made on the Closing Date, not later than 12:00 p.m.Noon, New York City time, (1) one on the third Business Day before prior to the date of the proposed Borrowing. Each Borrowing Request shall be irrevocable and shall specify (in the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be case of a Borrowing of Revolving Loans or Term to consist of LIBO Rate Loans;
) and (bii) 12:00 Noon, New York City time, on the Business Day of the proposed Borrowing (in the case of a Borrowing of Loans to consist of Base Rate Loans), by the Borrower to the Administrative Agent, which shall give to each Lender prompt notice thereof by facsimile transmission. Each such notice of a Borrowing of Loans shall be made in writing, in substantially the form of a Borrowing Request, specifying therein (i) the aggregate amount of such Borrowing;
(c) the requested date of such Borrowing, Borrowing (which shall be a Business Day;
), (dii) whether such Borrowing is to be an ABR Borrowing a LIBO Rate Loan or a Eurodollar Base Rate Loan, (iii) the requested aggregate amount of such Borrowing;
, (eiv) in the case of a Eurodollar BorrowingLIBO Rate Loan, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
therefor and (fv) the location and number of the Borrower’s account to which funds are to be disbursed; and.
(gb) with respect Each Lender shall make each Loan to each Credit Extension be made after by it hereunder on the Closing Dateproposed date thereof by wire transfer of immediately available funds by 2:00 p.m., New York City time, to the account of the Administrative Agent most recently designated by it for such purpose by notice to the Lenders. The Administrative Agent will make such Loans available to the Borrower by promptly crediting the amounts so received, in like funds, to an account of the Borrower and designated by the Borrower in the applicable Borrowing Request; provided that Borrowings made to finance the conditions set forth reimbursement of an LC Disbursement as provided in Section 4.02(b2.6.6 shall be remitted by the Administrative Agent to the Issuing Lender specified in Section 2.6.6.
(c) and Section 4.02(c) will be satisfied or waived as of the date the requested Borrowing is made. If no election as to the Type type of Borrowing a Loan is specified, then the requested Borrowing Loan shall be a Eurodollar Borrowing with an Base Rate Loan. If no Interest Period of one month’s duration. If is specified with respect to any requested LIBO Rate Loan, then the Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will be deemed to have specified an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03, the Administrative Agent requested Loan shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made instead as part of the requested Borrowinga Base Rate Loan.
Appears in 1 contract
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the Borrower Borrowers shall deliver, by facsimile or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agent, a duly completed and executed Borrowing Request to notify the Administrative Agent of such request by telephone (apromptly confirmed by telecopy) (i) in the case of a Revolving Eurodollar Borrowing, not later than 12:00 p.m.noon, New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent)time, three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (bii) in the case of Term Loan Borrowings to be made on the Closing Datean ABR Borrowing, (other than Swingline Loans), not later than 12:00 p.m.noon, New York City time, (1) one on the Business Day before the date of the proposed Borrowing. Each such telephonic Borrowing Request shall be irrevocable and shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written Borrowing Request in a form approved by the Administrative Agent and signed by Borrowers. Each such telephonic and written Borrowing Request shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Borrowing of Revolving Loans or Term Loans;
(b) the aggregate amount of such Borrowing;
(cb) the date of such Borrowing, which shall be a Business Day;
(dc) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(ed) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”; provided that until the earlier of (i) the date on which the Administrative Agent shall have notified Borrower that the primary syndication of the Commitments has been completed and (ii) the date which is 30 days after the Closing Date, the Interest Period shall be seven days;
(fe) the location and number of the account to which funds are to be disbursed, which shall comply with the requirements of Section 2.02; and
(gf) with respect to each Credit Extension made after the Closing Date, that the conditions set forth in Section 4.02(b4.02 (b)-(e) and Section 4.02(c) will be are satisfied or waived as of the date of the requested Borrowing is madenotice. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a an ABR Borrowing. If no Interest Period is specified with respect to any requested Eurodollar Borrowing with Revolving Borrowing, then Borrowers shall be deemed to have selected an Interest Period of one month’s duration. If duration (subject to the Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will be deemed to have specified an Interest Period of one month’s durationproviso in clause (d) above). Promptly following receipt of a Borrowing Request in accordance with this Section 2.03, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the Borrower shall deliver, by facsimile hand delivery or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agenttelecopier, a duly completed and executed Borrowing Request to the Administrative Agent (ai) in the case of a Revolving Eurodollar Borrowing, not later than 12:00 1:00 p.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent)time, three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (bii) in the case of Term Loan Borrowings to be made on the Closing Datean ABR Borrowing, not later than 12:00 p.m.10:00 a.m., New York City time, (1) one Business Day before on the date of the proposed Borrowing. Each Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Borrowing of Revolving Loans or Term Loans;
(b) the aggregate amount of such Borrowing;
(c) the date of such Borrowing, which shall be a Business Day;
(d) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(e) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
(f) the location and number of the Borrower’s account to which funds are to be disbursed, which shall comply with the requirements of Section 2.02(c); and
(g) with respect to each Credit Extension made after the Closing Date, that the conditions set forth in Section 4.02(bSections 4.02(b)-(d) and Section 4.02(c) will be have been satisfied or waived as of the date of the requested Borrowing is madenotice. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar Borrowing with an ABR Borrowing. If no Interest Period of one month’s duration. If the is specified with respect to any requested Eurodollar Borrowing, then Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will shall be deemed to have specified selected an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Sources: Credit Agreement (On Assignment Inc)
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the Borrower shall deliver, by hand delivery, email through a “pdf” copy or facsimile transmission (or transmit by other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agent), a duly completed and executed Borrowing Request to the Administrative Agent (ai) in the case of a Revolving Eurodollar Borrowing, not later than 12:00 12:30 p.m., New York City time time, on the third Business Day before the date of the proposed Borrowing (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent), three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (bii) in the case of Term Loan Borrowings to be made on the Closing Datean ABR Borrowing, not later than 12:00 12:30 p.m., New York City time, one (1) one Business Day before prior to the date proposed Borrowing (provided that such notice shall be delivered not later than 12:30 p.m., New York City time, one (1) Business Day prior to the Closing Date in the case of the proposed BorrowingCredit Extensions on the Closing Date). Each Borrowing Request shall be irrevocable (provided that a Borrowing Request in respect of the Credit Extensions on the Closing Date, or in connection with any Permitted Acquisition or other transaction permitted under this Agreement, may, subject to Section 2.13, be conditioned on the consummation of the Transactions or such Permitted Acquisition or other transaction, as applicable, to the extent revocation of such notice is received by written notice to the Administrative Agent no later than 12:30 p.m., New York City time on the date of such proposed Borrowing) and shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Borrowing of Revolving Loans or Term Loansapplicable Class thereof;
(b) the aggregate amount of such Borrowing;
(c) [reserved];
(d) the date of such Borrowing, which shall be a Business Day;
(de) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(ef) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;; and
(fg) the location and number of the Borrower’s account to which funds are to be disbursed; and
(g) with respect to each Credit Extension made after the Closing Date, that the conditions set forth in Section 4.02(b) and Section 4.02(c) will be satisfied or waived as of the date the requested Borrowing is made. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar Borrowing with an ABR Borrowing. If no Interest Period of one month’s duration. If the is specified with respect to any requested Eurodollar Borrowing, then Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will shall be deemed to have specified selected an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03, the Administrative Agent shall advise each Lender of the applicable Class of the details thereof and of the pro rata amount and currency of such Lender’s Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Borrowing Procedure. To request a Revolving Borrowing or Term Loan B Borrowing, the Borrower shall deliver, by facsimile hand delivery or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agenttelecopy, a duly completed and executed Borrowing Request to the Administrative Agent (ai) in the case of a Revolving BorrowingEurodollar Borrowing in dollars, not later than 12:00 p.m.noon, New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent)time, three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (bii) in the case of Term Loan Borrowings to be made on the Closing Datean ABR Borrowing, not later than 12:00 1:00 p.m., New York City time, (1) one Business Day before on the date of the proposed Borrowing. Each Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Revolving Borrowing of Revolving Loans or a Term LoansB Borrowing;
(b) the aggregate amount of such Borrowing;
(c) the date of such Borrowing, which shall be a Business Day;
(d) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(e) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
(f) the location and number of the Borrower’s account to which funds are to be disbursed, which shall comply with the requirements of Section 2.02; and
(g) with respect to each Credit Extension made after the Closing Date, that the conditions set forth in Section 4.02(bSections 4.02 (b)-(e) and Section 4.02(c) will be are satisfied or waived as of the date of the requested Borrowing is madenotice. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar Borrowing with an ABR Borrowing. If no Interest Period of one month’s duration. If the is specified with respect to any requested Eurodollar Borrowing, then Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will shall be deemed to have specified selected an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Borrowing Procedure. To request a Revolving Borrowing or Term Loan Borrowing, the Borrower shall deliver, by facsimile hand delivery, electronic mail or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agenttelecopier, a duly completed and executed Borrowing Request to the Administrative Agent (ai) in the case of a Revolving Eurodollar Borrowing, not later than 12:00 1:00 p.m., New York City time (or such later time on such Business Day as may be reasonably acceptable to the Administrative Agent)time, three (3) Business Days before the date of the proposed Borrowing; provided that a Revolving Borrowing may not be requested more than twice per calendar month, or (bii) in the case of Term Loan Borrowings to be made on the Closing Date, an ABR Borrowing not later than 12:00 p.m.11:00 a.m., New York City time, (1) one Business Day before on the date of the proposed Borrowing. Each Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.02:
(a) whether the requested Borrowing is to be a Borrowing of Revolving Loans or Term Loans;
(b) the aggregate amount of such Borrowing;
(cb) the date of such Borrowing, which shall be a Business Day;
(dc) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(ed) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
(fe) the location and number of the Borrower’s account to which funds are to be disbursed; and
(gf) with respect to each Credit Extension made after the Closing Date, that the conditions set forth in Section 4.02(bSections 4.02(b)-(d) and Section 4.02(c) will be have been satisfied or waived as of the date of the requested Borrowing is madenotice. If no election as to the Type of Borrowing is specified, then the requested Borrowing if in dollars shall be a an ABR Borrowing. If no Interest Period is specified with respect to any requested Eurodollar Borrowing with Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. If the Borrower requests a Eurodollar Borrowing but fails to specify an Interest Period, the Borrower will be deemed to have specified an Interest Period of one (1) month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender▇▇▇▇▇▇’s Loan to be made as part of the requested Borrowing. The Carve-Out shall be funded at the times and in the manner set forth in the Financing Orders.
Appears in 1 contract
Sources: Senior Secured Debtor in Possession Credit Agreement