Common use of Committed Borrowing Procedure Clause in Contracts

Committed Borrowing Procedure. In order to effect a Committed Borrowing, the Company shall hand deliver, telecopy or e-mail to the Paying Agent a duly completed request for Committed Borrowing, substantially in the form of Exhibit A hereto (a “Notice of Committed Borrowing”), (i) in the case of Eurodollar Loans, not later than 11:00 a.m., New York City time, three Business Days before the Borrowing Date specified for a proposed Committed Borrowing, and (ii) in the case of Alternate Base Loans, not later than 11:00 a.m., New York City time, on the Business Day which is the Borrowing Date specified for a proposed Committed Borrowing. Such notice shall be irrevocable and shall in each case refer to this Agreement and specify (x) whether the Loans then being requested are to be Eurodollar Loans, or Alternate Base Loans, (y) the Borrowing Date of such Loans (which shall be a Business Day) and the aggregate amount thereof (which shall not be less than $10,000,000 and shall be an integral multiple of $1,000,000) and (z) in the case of a Eurodollar Loan, the Interest Period with respect thereto (which shall not end later than the Termination Date). If no Interest Period with respect to any Eurodollar Loan is specified in any such Notice of Committed Borrowing, then the Company shall be deemed to have selected an Interest Period of one month’s duration. Promptly, and in any event on the same day the Paying Agent receives a Notice of Committed Borrowing pursuant to this Section 2.3 if such notice is received by 11:00 a.m., New York City time on a Business Day and otherwise on the next succeeding Business Day, the Paying Agent shall advise the other Banks of such Notice of Committed Borrowing and of each Bank’s portion of the requested Committed Borrowing by telecopier or e-mail. Each Committed Borrowing shall consist of Loans of the same Type made on the same day and having the same Interest Period.

Appears in 4 contracts

Sources: Revolving Credit Facility Agreement (Southwest Airlines Co), Revolving Credit Facility Agreement (Southwest Airlines Co), Revolving Credit Facility Agreement (Southwest Airlines Co)

Committed Borrowing Procedure. In order to effect request a Committed Borrowing, the Company Borrower shall hand deliver, deliver or telecopy or e-mail to the Paying Agent a duly completed request for Committed Borrowing, substantially Borrowing Request in the form of Exhibit A hereto A-6 (a “Notice of Committed Borrowing”), (ia) in the case of a Eurodollar LoansCommitted Borrowing, not later than 11:00 10:30 a.m., New York City time, three Business Days before the Borrowing Date specified for a proposed Committed Borrowing, Borrowing and (iib) in the case of Alternate Base Loansan ABR Borrowing, not later than 11:00 10:30 a.m., New York City time, on the Business Day which is the Borrowing Date specified for day of a proposed Borrowing. No Fixed Rate Loan shall be requested or made pursuant to a Committed BorrowingBorrowing Request. Such notice shall be irrevocable and shall in each case refer to this Agreement and specify (xi) whether the Loans Borrowing then being requested are is to be a Eurodollar Loans, Committed Borrowing or Alternate Base Loans, an ABR Borrowing; (yii) the Borrowing Date date of such Loans Committed Borrowing (which shall be a Business Day) and the aggregate amount thereof (which shall not be less than $10,000,000 and shall be an integral multiple of $1,000,000) thereof; and (ziii) in the case of if such Borrowing is to be a Eurodollar LoanCommitted Borrowing, the Interest Period with respect thereto (thereto, which shall not end later than after the Termination Maturity Date). If no election as to the Type of Committed Borrowing is specified in any such notice, then the requested Committed Borrowing shall be an ABR Borrowing. If no Interest Period with respect to any Eurodollar Loan Committed Borrowing is specified in any such Notice of Committed Borrowingnotice, then the Company Borrower shall be deemed to have selected an Interest Period of one month’s 's duration. PromptlyNotwithstanding any other provision of this Agreement to the contrary, and in the Borrower shall not be entitled to request any event on the same day the Paying Agent receives a Notice of Committed Borrowing if the Interest Period requested with respect to such Committed Borrowing would end after the Maturity Date. The Agent shall promptly advise the Lenders of any notice given pursuant to this Section 2.3 if such notice is received by 11:00 a.m., New York City time on a Business Day and otherwise on the next succeeding Business Day, the Paying Agent shall advise the other Banks of such Notice of Committed Borrowing 2.04 and of each Bank’s Lender's portion of the requested Committed Borrowing by telecopier or e-mail. Each Committed Borrowing shall consist of Loans of the same Type made on the same day and having the same Interest PeriodBorrowing.

Appears in 4 contracts

Sources: Competitive Advance and Revolving Credit Facility Agreement (Avaya Inc), Competitive Advance and Revolving Credit Facility Agreement (Avaya Inc), 364 Day Competitive Advance and Revolving Credit Facility Agreement (Avaya Inc)

Committed Borrowing Procedure. In order to effect request a Committed Borrowing, the Company shall hand deliver, deliver or telecopy (or e-mail notify by telephone and promptly confirm by hand delivery or telecopy) to the Paying Administrative Agent a duly completed request for Committed Borrowing, substantially in the information requested by the form of Committed Borrowing Request attached as Exhibit A A-5 hereto (a “Notice of Committed Borrowing”), (ia) in the case of a Eurodollar LoansCommitted Borrowing, not later than 11:00 10:30 a.m., New York City Charlotte, North Carolina time, three Business Days before the Borrowing Date specified for a proposed Committed Borrowing, Borrowing and (iib) in the case of Alternate Base Loansan ABR Borrowing, not later than 11:00 10:30 a.m., New York City Charlotte, North Carolina time, on the Business Day which is the Borrowing Date specified for day of a proposed Borrowing. No Fixed Rate Loan shall be requested or made pursuant to a Committed BorrowingBorrowing Request. Such notice shall be irrevocable and shall in each case refer to this Agreement and specify (xi) whether the Loans Borrowing then being requested are is to be a Eurodollar Loans, Committed Borrowing or Alternate Base Loans, an ABR Borrowing; (yii) the Borrowing Date date of such Loans Committed Borrowing (which shall be a Business Day) and the aggregate amount thereof (which shall not be less than $10,000,000 and shall be an integral multiple of $1,000,000) thereof; and (ziii) in the case of if such Borrowing is to be a Eurodollar LoanCommitted Borrowing, the Interest Period with respect thereto (which thereto. If no election as to the Type of Committed Borrowing is specified in any such notice, then the requested Committed Borrowing shall not end later than the Termination Date)be an ABR Borrowing. If no Interest Period with respect to any Eurodollar Loan Committed Borrowing is specified in any such Notice of Committed Borrowingnotice, then the Company shall be deemed to have selected an Interest Period of one month’s 's duration. Promptly, and If the Company shall not have given notice in any event on the same day the Paying Agent receives accordance with this Section 2.04 of its election to refinance a Notice of Committed Borrowing prior to the end of the Interest Period in effect for such Borrowing, then the Company 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 the Banks of any notice given pursuant to this Section 2.3 if such notice is received by 11:00 a.m., New York City time on a Business Day and otherwise on the next succeeding Business Day, the Paying Agent shall advise the other Banks of such Notice of Committed Borrowing 2.04 and of each Bank’s 's portion of the requested Committed Borrowing by telecopier or e-mail. Each Committed Borrowing shall consist of Loans of the same Type made on the same day and having the same Interest PeriodBorrowing.

Appears in 2 contracts

Sources: Revolving Credit Facility and Term Loan Agreement (Ethyl Corp), Credit Facility Agreement (Ethyl Corp)

Committed Borrowing Procedure. In order to effect a Committed Borrowing, the Company shall hand deliver, telecopy or e-mail to the Paying Agent a duly completed request for Committed Borrowing, substantially in the form of Exhibit A hereto (a “Notice of Committed Borrowing”), (i) in the case of Eurodollar EurodollarTerm Benchmark Loans, not later than 11:00 a.m., New York City time, three U.S. Government Securities Business Days before the Borrowing Date specified for a proposed Committed Borrowing, and (ii) in the case of Alternate Base Loans, not later than 11:00 a.m., New York City time, on the Business Day which is the Borrowing Date specified for a proposed Committed Borrowing. Such notice shall be irrevocable and shall in each case refer to this Agreement and specify (x) whether the Loans then being requested are to be Eurodollar EurodollarTerm Benchmark Loans, or Alternate Base Loans, (y) the Borrowing Date of such Loans (which shall be a Business Day) and the aggregate amount thereof (which shall not be less than $10,000,000 and shall be an integral multiple of $1,000,000) and (z) in the case of a Eurodollar EurodollarTerm Benchmark Loan, the Interest Period with respect thereto (which shall not end later than the Termination Date). If no Interest Period with respect to any Eurodollar EurodollarTerm Benchmark Loan is specified in any such Notice of Committed Borrowing, then the Company shall be deemed to have selected an Interest Period of one month’s duration. Promptly, and in any event on the same day the Paying Agent receives a Notice of Committed Borrowing pursuant to this Section 2.3 2.32.2 if such notice is received by 11:00 a.m., New York City time on a Business Day and otherwise on the next succeeding Business Day, the Paying Agent shall advise the other Banks of such Notice of Committed Borrowing and of each Bank’s portion of the requested Committed Borrowing by telecopier or e-mail. Each Committed Borrowing shall consist of Loans of the same Type made on the same day and having the same Interest Period.

Appears in 1 contract

Sources: Revolving Credit Facility Agreement (Southwest Airlines Co)

Committed Borrowing Procedure. In order to effect request a Committed ----------------------------- Borrowing, the Company shall hand deliver, deliver or telecopy (or e-mail notify by telephone and promptly confirm by hand delivery or telecopy) to the Paying Agent a duly completed request for Committed Borrowing, substantially in the information requested by the form of Committed Borrowing Request attached as Exhibit A A-4 hereto (a “Notice of Committed Borrowing”), (ia) in the case of a Eurodollar LoansCommitted Borrowing, not later than 12:00 noon, Philadelphia time, three Business Days before a proposed Borrowing and (b) in the case of a Base Rate Borrowing, not later than 11:00 a.m., New York City time, three Business Days before the Borrowing Date specified for a proposed Committed Borrowing, and (ii) in the case of Alternate Base Loans, not later than 11:00 a.m., New York City Philadelphia time, on the Business Day which is the Borrowing Date specified for day of a proposed Borrowing. No Fixed Rate Loan shall be requested or made pursuant to a Committed BorrowingBorrowing Request. Such notice shall be irrevocable and shall in each case refer to this Agreement and specify (xi) whether the Loans in the Borrowing then being requested are to be Eurodollar Committed Loans or Base Rate Loans, or Alternate Base Loans, ; (yii) the Borrowing Date date of such Loans Committed Borrowing (which shall be a Business Day) and the aggregate amount thereof (which shall not be less than $10,000,000 and shall be an integral multiple of $1,000,000) thereof; and (ziii) in the case if such Committed Borrowing is to be of a Eurodollar LoanLoans, the Interest Period with respect thereto (which thereto. If no election as to the Type of Committed Borrowing is specified in any such notice, then the requested Committed Borrowing shall not end later than the Termination Date)be of Base Rate Loans. If no Interest Period with respect to any Committed Borrowing of Eurodollar Loan Loans is specified in any such Notice of Committed Borrowingnotice, then the Company shall be deemed to have selected an Interest Period of one month’s 's duration. Promptly, and in The Agent shall promptly advise the Banks of any event on the same day the Paying Agent receives a Notice of Committed Borrowing notice given pursuant to this Section 2.3 if such notice is received by 11:00 a.m., New York City time on a Business Day and otherwise on the next succeeding Business Day, the Paying Agent shall advise the other Banks of such Notice of Committed Borrowing 2.2 and of each Bank’s 's portion of the requested Committed Borrowing by telecopier or e-mail. Each Committed Borrowing shall consist of Loans of the same Type made on the same day and having the same Interest PeriodBorrowing.

Appears in 1 contract

Sources: Credit Agreement (Sungard Data Systems Inc)

Committed Borrowing Procedure. In order to effect request a Committed Borrowing, the Company shall hand deliver, deliver or telecopy (or e-mail notify by telephone and promptly confirm by hand delivery or telecopy) to the Paying Administrative Agent a duly completed request for Committed Borrowing, substantially in the information requested by the form of Committed Borrowing Request attached as Exhibit A A-5 hereto (a “Notice of Committed Borrowing”), (ia) in the case of a Eurodollar LoansCommitted Borrowing, not later than 11:00 10:30 a.m., New York City North Carolina time, three Business Days before the Borrowing Date specified for a proposed Committed Borrowing, Borrowing and (iib) in the case of Alternate Base Loansan ABR Borrowing, not later than 11:00 10:30 a.m., New York City North Carolina time, on the Business Day which is the Borrowing Date specified for day of a proposed Borrowing. No Fixed Rate Loan shall be requested or made pursuant to a Committed BorrowingBorrowing Request. Such notice shall be irrevocable and shall in each case refer to this Agreement and specify (xi) whether the Loans Borrowing then being requested are is to be a Eurodollar Loans, Committed Borrowing or Alternate Base Loans, an ABR Borrowing; (yii) the Borrowing Date date of such Loans Committed Borrowing (which shall be a Business Day) and the aggregate amount thereof (which shall not be less than $10,000,000 and shall be an integral multiple of $1,000,000) thereof; and (ziii) in the case of if such Borrowing is to be a Eurodollar LoanCommitted Borrowing, the Interest Period with respect thereto (which thereto. If no election as to the Type of Committed Borrowing is specified in any such notice, then the requested Committed Borrowing shall not end later than the Termination Date)be an ABR Borrowing. If no Interest Period with respect to any Eurodollar Loan Committed Borrowing is specified in any such Notice of Committed Borrowingnotice, then the Company shall be deemed to have selected an Interest Period of one month’s 's duration. Promptly, and If the 28 Company shall not have given notice in any event on the same day the Paying Agent receives accordance with this Section 2.4 of its election to refinance a Notice of Committed Borrowing prior to the end of the Interest Period in effect for such Borrowing, then the Company 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 the Banks of any notice given pursuant to this Section 2.3 if such notice is received by 11:00 a.m., New York City time on a Business Day and otherwise on the next succeeding Business Day, the Paying Agent shall advise the other Banks of such Notice of Committed Borrowing 2.4 and of each Bank’s 's portion of the requested Committed Borrowing by telecopier or e-mail. Each Committed Borrowing shall consist of Loans of the same Type made on the same day and having the same Interest PeriodBorrowing.

Appears in 1 contract

Sources: Competitive Advance and Revolving Credit Facility Agreement (Albemarle Corp)

Committed Borrowing Procedure. In order to effect a Committed Borrowing, the Company shall hand deliver, deliver or telecopy or e-mail to the Paying Administrative Agent a duly completed request for Committed Borrowing, substantially in the form of Exhibit A A-2 hereto (a "Notice of Committed Borrowing"), (i) in the case of Eurodollar Loans, not later than 11:00 a.m., New York City time, three Business Days before the Borrowing Date specified for a proposed Committed Borrowing, and (ii) in the case of Alternate Base Loans, not later than 11:00 a.m., New York City time, on the Business Day which is the Borrowing Date specified for a proposed Committed Borrowing. No Fixed Rate Loan shall be requested or made pursuant to a Notice of Committed Borrowing. Such notice shall be irrevocable and shall in each case refer to this Agreement and specify (x) whether the Loans then being requested are to be Eurodollar Loans, or Alternate Base Loans, (y) the Borrowing Date of such Loans (which shall be a Business Day) and the aggregate amount thereof (which shall not be less than $10,000,000 and shall be an integral multiple of $1,000,000) and (z) in the case of a Eurodollar Loan, the Interest Period with respect thereto (which shall not end later than the Termination Date or, if applicable, the Term-Out Maturity Date). If no Interest Period with respect to any Eurodollar Loan is specified in any such Notice of Committed Borrowing, then the Company shall be deemed to have selected an Interest Period of one month’s 's duration. Promptly, and in any event on the same day the Paying Administrative Agent receives a Notice of Committed Borrowing pursuant to this Section 2.3 if such notice is received by 11:00 a.m., New York City time on a Business Day and otherwise on the next succeeding Business Day, the Paying Administrative Agent shall advise the other Banks of such Notice of Committed Borrowing and of each Bank’s 's portion of the requested Committed Borrowing by telecopier or e-mailtelecopier. Each Committed Borrowing shall consist of Loans of the same Type made on the same day and having the same Interest Period.

Appears in 1 contract

Sources: 364 Day Competitive Advance and Revolving Credit Facility Agreement (Southwest Airlines Co)

Committed Borrowing Procedure. In order to effect a Committed Borrowing, the Company shall hand deliver, deliver or telecopy or e-mail to the Paying Administrative Agent a duly completed request for Committed Borrowing, substantially in the form of Exhibit A A-2 hereto (a "Notice of Committed Borrowing"), (i) in the case of Eurodollar Loans, not later than 11:00 a.m., a.m.. New York City time, three Business Days before the Borrowing Date specified for a proposed Committed Borrowing, and (ii) in the case of Alternate Base Loans, not later than 11:00 a.m., New York City time, on the Business Day which is the Borrowing Date specified for a proposed Committed Borrowing. No Fixed Rate Loan shall be requested or made pursuant to a Notice of Committed Borrowing. Such notice shall be irrevocable and shall in each case refer to this Agreement and specify (x) whether the Loans then being requested are to be Eurodollar Loans, or Alternate Base Loans, (y) the Borrowing Date of such Loans (which shall be a Business Day) and the aggregate amount thereof (which shall not be less than $10,000,000 and shall be an integral multiple of $1,000,000) and (z) in the case of a Eurodollar Loan, the Interest Period with respect thereto (which shall not end later than the Termination Date). If no Interest Period with respect to any Eurodollar Loan is specified in any such Notice of Committed Borrowing, then the Company shall be deemed to have selected an Interest Period of one month’s 's duration. Promptly, and in any event on the same day the Paying Administrative Agent receives a Notice of Committed Borrowing pursuant to this Section 2.3 if such notice is received by 11:00 a.m., a.m.. New York City time on a Business Day and otherwise on the next succeeding Business Day, the Paying Administrative Agent shall advise the other Banks of such Notice of Committed Borrowing and of each Bank’s 's portion of the requested Committed Borrowing by telecopier or e-mailtelecopier. Each Committed Borrowing shall consist of Loans of the same Type made on the same day and having the same Interest Period.

Appears in 1 contract

Sources: Credit Facility Agreement (Southwest Airlines Co)

Committed Borrowing Procedure. In order to effect a Committed Borrowing, the Company shall hand deliver, deliver or telecopy or e-mail to the Paying Administrative Agent a duly completed request for Committed Borrowing, substantially in the form of Exhibit A A-2 hereto (a "Notice of Committed Borrowing"), (i) in the case of Eurodollar Loans, not later than 11:00 10:00 a.m., New York City Houston, Texas time, three Business Days before the Borrowing Date specified for a proposed Committed Borrowing, and (ii) in the case of Alternate Base Loans, not later than 11:00 10:00 a.m., New York City Houston, Texas time, on the Business Day which is the Borrowing Date specified for a proposed Committed Borrowing. No Fixed Rate Loan shall be requested or made pursuant to a Notice of Committed Borrowing. Such notice shall be irrevocable and shall in each case refer to this Agreement and specify (x) whether the Loans then being requested are to be Eurodollar Loans, or Alternate Base Loans, (y) the Borrowing Date of such Loans (which shall be a Business Day) and the aggregate amount thereof (which shall not be less than $10,000,000 and shall be an integral multiple of $1,000,000) and (z) in the case of a Eurodollar Loan, the Interest Period with respect thereto (which shall not end later than the Termination Date). If no Interest Period with respect to any Eurodollar Loan is specified in any such Notice of Committed Borrowing, then the Company shall be deemed to have selected an Interest Period of one month’s 's duration. Promptly, and in any event on the same day the Paying Administrative Agent receives a Notice of Committed Borrowing pursuant to this Section 2.3 if such notice is received by 11:00 10:00 a.m., New York City Houston, Texas time on a Business Day and otherwise on the next succeeding Business Day, the Paying Administrative Agent shall advise the other Banks of such Notice of Committed Borrowing and of each Bank’s 's portion of the requested Committed Borrowing by telecopier or e-mailtelecopier. Each Committed Borrowing shall consist of Loans of the same Type made on the same day and having the same Interest Period.

Appears in 1 contract

Sources: Competitive Advance and Revolving Credit Facility Agreement (Southwest Airlines Co)

Committed Borrowing Procedure. In order to effect a Committed Borrowing, the Company shall hand deliver, deliver or telecopy or e-mail to the Paying Administrative Agent a duly completed request for Committed Borrowing, substantially in the form of Exhibit A A-2 hereto (a "Notice of Committed Borrowing"), (i) in the case of Eurodollar Loans, not later than 11:00 a.m., New York City time, three Business Days before the Borrowing Date specified for a proposed Committed Borrowing, and (ii) in the case of Alternate Base Loans, not later than 11:00 a.m., New York City time, on the Business Day which is the Borrowing Date specified for a proposed Committed Borrowing. No Fixed Rate Loan shall be requested or made pursuant to a Notice of Committed Borrowing. Such notice shall be irrevocable and shall in each case refer to this Agreement and specify (x) whether the Loans then being requested are to be Eurodollar Loans, or Alternate Base Loans, (y) the Borrowing Date of such Loans (which shall be a Business Day) and the aggregate amount thereof (which shall not be less than $10,000,000 and shall be an integral multiple of $1,000,000) and (z) in the case of a Eurodollar Loan, the Interest Period with respect thereto (which shall not end later than the Termination Date). If no Interest Period with respect to any Eurodollar Loan is specified in any such Notice of Committed Borrowing, then the Company shall be deemed to have selected an Interest Period of one month’s 's duration. Promptly, and in any event on the same day the Paying Administrative Agent receives a Notice of Committed Borrowing pursuant to this Section 2.3 if such notice is received by 11:00 a.m., New York City time on a Business Day and otherwise on the next succeeding Business Day, the Paying Administrative Agent shall advise the other Banks of such Notice of Committed Borrowing and of each Bank’s 's portion of the requested Committed Borrowing by telecopier or e-mailtelecopier. Each Committed Borrowing shall consist of Loans of the same Type made on the same day and having the same Interest Period.

Appears in 1 contract

Sources: Competitive Advance and Revolving Credit Facility Agreement (Southwest Airlines Co)

Committed Borrowing Procedure. In order to effect a Committed Borrowing, the Company shall hand deliver, deliver or telecopy or e-mail to the Paying Agent a duly completed request for Committed Borrowing, substantially in the form of Exhibit A hereto (a “Notice of Committed Borrowing”), (i) in the case of Eurodollar Loans, not later than 11:00 a.m., New York City time, three Business Days before the Borrowing Date specified for a proposed Committed Borrowing, and (ii) in the case of Alternate Base Loans, not later than 11:00 a.m., New York City time, on the Business Day which is the Borrowing Date specified for a proposed Committed Borrowing. Such notice shall be irrevocable and shall in each case refer to this Agreement and specify (x) whether the Loans then being requested are to be Eurodollar Loans, or Alternate Base Loans, (y) the Borrowing Date of such Loans (which shall be a Business Day) and the aggregate amount thereof (which shall not be less than $10,000,000 and shall be an integral multiple of $1,000,000) and (z) in the case of a Eurodollar Loan, the Interest Period with respect thereto (which shall not end later than the Termination Date). If no Interest Period with respect to any Eurodollar Loan is specified in any such Notice of Committed Borrowing, then the Company shall be deemed to have selected an Interest Period of one month’s duration. Promptly, and in any event on the same day the Paying Agent receives a Notice of Committed Borrowing pursuant to this Section 2.3 if such notice is received by 11:00 a.m., New York City time on a Business Day and otherwise on the next succeeding Business Day, the Paying Agent shall advise the other Banks of such Notice of Committed Borrowing and of each Bank’s portion of the requested Committed Borrowing by telecopier or e-mailtelecopier. Each Committed Borrowing shall consist of Loans of the same Type made on the same day and having the same Interest Period.

Appears in 1 contract

Sources: Revolving Credit Facility Agreement (Southwest Airlines Co)

Committed Borrowing Procedure. In order to effect a Committed Borrowing, the Company shall hand deliver, deliver or telecopy or e-mail to the Paying Administrative Agent a duly completed request for Committed Borrowing, substantially in the form of Exhibit A hereto (a “Notice of Committed Borrowing”), (i) in the case of Eurodollar Loans, not later than 11:00 a.m., New York City time, three Business Days before the Borrowing Date specified for a proposed Committed Borrowing, and (ii) in the case of Alternate Base Loans, not later than 11:00 a.m., New York City time, on the Business Day which is the Borrowing Date specified for a proposed Committed Borrowing. Such notice shall be irrevocable and shall in each case refer to this Agreement and specify (x) whether the Loans then being requested are to be Eurodollar Loans, or Alternate Base Loans, (y) the Borrowing Date of such Loans (which shall be a Business Day) and the aggregate amount thereof (which shall not be less than $10,000,000 and shall be an integral multiple of $1,000,000) and (z) in the case of a Eurodollar Loan, the Interest Period with respect thereto (which shall not end later than the Termination Date). If no Interest Period with respect to any Eurodollar Loan is specified in any such Notice of Committed Borrowing, then the Company shall be deemed to have selected an Interest Period of one month’s duration. Promptly, and in any event on the same day the Paying Administrative Agent receives a Notice of Committed Borrowing pursuant to this Section 2.3 if such notice is received by 11:00 a.m., New York City time on a Business Day and otherwise on the next succeeding Business Day, the Paying Administrative Agent shall advise the other Banks of such Notice of Committed Borrowing and of each Bank’s portion of the requested Committed Borrowing by telecopier or e-mailtelecopier. Each Committed Borrowing shall consist of Loans of the same Type made on the same day and having the same Interest Period.

Appears in 1 contract

Sources: Revolving Credit Facility Agreement (Southwest Airlines Co)

Committed Borrowing Procedure. In order to effect a Committed Borrowing, the Company shall hand deliver, telecopy or e-mail to the Paying Agent a duly completed request for Committed Borrowing, substantially in the form of Exhibit A hereto (a “Notice of Committed Borrowing”), (i) in the case of Eurodollar Term Benchmark Loans, not later than 11:00 a.m., New York City time, three U.S. Government Securities Business Days before the Borrowing Date specified for a proposed Committed Borrowing, and (ii) in the case of Alternate Base Loans, not later than 11:00 a.m., New York City time, on the Business Day which is the Borrowing Date specified for a proposed Committed Borrowing. Such notice shall be irrevocable and shall in each case refer to this Agreement and specify (x) whether the Loans then being requested are to be Eurodollar Term Benchmark Loans, or Alternate Base Loans, (y) the Borrowing Date of such Loans (which shall be a Business Day) and the aggregate amount thereof (which shall not be less than $10,000,000 and shall be an integral multiple of $1,000,000) and (z) in the case of a Eurodollar Term Benchmark Loan, the Interest Period with respect thereto (which shall not end later than the Termination Date). If no Interest Period with respect to any Eurodollar Term Benchmark Loan is specified in any such Notice of Committed Borrowing, then the Company shall be deemed to have selected an Interest Period of one month’s duration. Promptly, and in any event on the same day the Paying Agent receives a Notice of Committed Borrowing pursuant to this Section 2.3 2.2 if such notice is received by 11:00 a.m., New York City time on a Business Day and otherwise on the next succeeding Business Day, the Paying Agent shall advise the other Banks of such Notice of Committed Borrowing and of each Bank’s portion of the requested Committed Borrowing by telecopier or e-mail. Each Committed Borrowing shall consist of Loans of the same Type made on the same day and having the same Interest Period.

Appears in 1 contract

Sources: Revolving Credit Facility Agreement (Southwest Airlines Co)

Committed Borrowing Procedure. In order to effect a Committed Borrowing, the (a) The Company shall hand deliver, telecopy or e-mail deliver to the Paying Agent a duly completed request Borrowing Request prior to 12:00 noon (Atlanta, Georgia time) on the requested date of the making of such Borrowing if it is to be a Borrowing for Committed Borrowinga Reference Rate Loan, substantially in the form of Exhibit A hereto (a “Notice of Committed Borrowing”), (i) in the case of Eurodollar Loans, not later than 11:00 a.m., New York City time, and at least three Business Days before the requested date of the making of such Borrowing Date specified if it is to be a Borrowing for a proposed Eurodollar Rate Committed Loan (the first day of such period being the date such Notice is received). Each Borrowing Request shall be signed by an Authorized Officer of the Company designated to give such notices by its Board of Directors or chief financial officer and the Company shall notify the Agent in writing of the names of such officers and shall provide the Agent with specimen signatures of such officers. The Agent and the Lenders shall be entitled to rely conclusively on such officers' authority to request a Borrowing on behalf of the Company until the Agent receives from the Company written notice to the contrary. The Agent and the Lenders shall have no duty to verify the authenticity of the signatures appearing on any Borrowing Request. Any Borrowing Request, when given, shall be irrevocable. Any Borrowing Request received prior to 12:00 noon (Atlanta, Georgia time) on any Business Day shall be treated as having been received on such Business Day. Notices received subsequent to 12:00 noon (Atlanta, Georgia time) shall be treated as having been received on the following Business Day. (b) Each Borrowing Request shall specify: (i) the requested Business Day of the Committed Borrowing, and , (ii) the amount of the Committed Borrowing requested to be made, such amount to be in the case minimum amount of Alternate Base Loans, not later than 11:00 a.m., New York City time, on the Business Day which is the Borrowing Date specified $100,000 for a proposed any Reference Rate Loan or $500,000 for any Eurodollar Rate Committed Borrowing. Such notice shall be irrevocable and shall in each case refer to this Agreement and specify (x) whether the Loans then being requested are to be Eurodollar LoansLoan, or Alternate Base Loans, (y) the Borrowing Date of such Loans (which shall be a Business Day) and the aggregate amount thereof (which shall not be less than $10,000,000 and shall be an any larger integral multiple of $1,000,000100,000, (iii) and whether such Committed Borrowing shall be made as a Reference Rate Loan or a Eurodollar Rate Committed Loan, and (ziv) in the case of a Eurodollar Rate Committed Loan, the duration of the Interest Period with respect thereto (which shall not end later than the Termination Date). If no Interest Period with respect to any Eurodollar Loan is specified in any such Notice of Committed Borrowingapplicable thereto; provided that, then the Company shall be deemed to have selected may not select an Interest Period of one month’s duration. Promptly, and in any event on the same day the Paying Agent receives a Notice of Committed Borrowing pursuant to this Section 2.3 if such notice is received by 11:00 a.m., New York City time on a Business Day and otherwise on the next succeeding Business Day, the Paying Agent shall advise the other Banks of such Notice of Committed Borrowing and of each Bank’s portion respect of the requested Committed Borrowing by telecopier or e-mail. Each Committed Borrowing shall consist of Loans of the same Type made on the same day and having the same Interest Period.principal portion of

Appears in 1 contract

Sources: Credit Agreement (Norrell Corp)

Committed Borrowing Procedure. In order to effect a Committed Borrowing, the Company a Borrower shall hand deliver, telecopy give written notice (or e-mail telephone notice promptly confirmed in writing) to the Paying Agent a duly completed request for Committed BorrowingAdministrative Agent, substantially in the form of Exhibit A hereto 2.04 (a “Notice of "Committed Borrowing”Borrowing Request"), (ia) in the case of a Eurodollar LoansCommitted Borrowing, not later than 11:00 a.m.noon, New York City time, three Business Days before the Borrowing Date specified for a such proposed Committed Borrowing, and (iib) in the case of Alternate Base Loansan ABR Borrowing, not later than 11:00 a.m., New York City time, on the Business Day which is the Borrowing Date specified for a such proposed Committed Borrowing. No Fixed Rate Loan or Eurodollar Competitive Loan shall be requested or made pursuant to a Committed Borrowing Request. Such notice Committed Borrowing Request shall be irrevocable and shall in each case refer to this Agreement and specify (x) whether the Loans Borrowing then being requested are is to be a Eurodollar Loans, Committed Borrowing or Alternate Base Loansan ABR Borrowing, (y) the Borrowing Date of such Loans Borrowing (which shall be a Business Day) and the aggregate amount thereof (which shall not be less than $10,000,000 5,000,000 and shall be an integral multiple of $1,000,000) and (z) in the case of a Eurodollar Loan, the Interest Period with respect thereto (which thereto. If no election as to the Type of Committed Borrowing is specified in any such notice, then the requested Committed Borrowing shall not end later than the Termination Date)be an ABR Borrowing. If no Interest Period with respect to any Eurodollar Loan Committed Borrowing is specified in any such Notice of Committed BorrowingBorrowing Request, then the Company Borrower making such request shall be deemed to have selected an Interest Period of one month’s 's duration. Promptly, and If a Borrower shall not have given notice in any event on the same day the Paying Agent receives accordance with this Section 2.04 of its election to refinance a Notice of Committed Borrowing prior to the end of the Interest Period in effect for such Borrowing, then such Borrower shall (unless such Borrowing is repaid at the end of such Interest Period) be deemed to have given notice of an election to refinance such Borrowing with an ABR Borrowing. The Administrative Agent shall promptly advise the Banks of any Committed Borrowing Request given pursuant to this Section 2.3 if such notice is received by 11:00 a.m., New York City time on a Business Day and otherwise on the next succeeding Business Day, the Paying Agent shall advise the other Banks of such Notice of Committed Borrowing 2.04 and of each Bank’s 's portion of the requested Committed Borrowing by telecopier or e-mail. Each Committed Borrowing shall consist of Loans of the same Type made on the same day and having the same Interest Periodfacsimile transmission.

Appears in 1 contract

Sources: Competitive Advance and Revolving Credit Facility Agreement (Service Corporation International)

Committed Borrowing Procedure. In order to effect a Committed Borrowing, the Company shall hand deliver, deliver or telecopy or e-mail to the Paying Administrative Agent a duly completed request for Committed Borrowing, substantially in the form of Exhibit A A-2 hereto (a “Notice of Committed Borrowing”), (i) in the case of Eurodollar Loans, not later than 11:00 a.m., New York City time, three Business Days before the Borrowing Date specified for a proposed Committed Borrowing, and (ii) in the case of Alternate Base Loans, not later than 11:00 a.m., New York City time, on the Business Day which is the Borrowing Date specified for a proposed Committed Borrowing. No Fixed Rate Loan shall be requested or made pursuant to a Notice of Committed Borrowing. Such notice shall be irrevocable and shall in each case refer to this Agreement and specify (x) whether the Loans then being requested are to be Eurodollar Loans, or Alternate Base Loans, (y) the Borrowing Date of such Loans (which shall be a Business Day) and the aggregate amount thereof (which shall not be less than $10,000,000 and shall be an integral multiple of $1,000,000) and (z) in the case of a Eurodollar Loan, the Interest Period with respect thereto (which shall not end later than the Termination Date). If no Interest Period with respect to any Eurodollar Loan is specified in any such Notice of Committed Borrowing, then the Company shall be deemed to have selected an Interest Period of one month’s duration. Promptly, and in any event on the same day the Paying Administrative Agent receives a Notice of Committed Borrowing pursuant to this Section 2.3 if such notice is received by 11:00 a.m., New York City time on a Business Day and otherwise on the next succeeding Business Day, the Paying Administrative Agent shall advise the other Banks of such Notice of Committed Borrowing and of each Bank’s portion of the requested Committed Borrowing by telecopier or e-mailtelecopier. Each Committed Borrowing shall consist of Loans of the same Type made on the same day and having the same Interest Period.

Appears in 1 contract

Sources: Competitive Advance and Revolving Credit Facility Agreement (Southwest Airlines Co)