Common use of Funds for Loans Clause in Contracts

Funds for Loans. (a) Not later than 3:00 p.m. (Boston time) on the proposed Drawdown Date of any Advances under the Loan, each of the Lenders will make available to the Agent, at its Head Office, in immediately available funds, the amount of such Lender's Commitment Percentage of the amount of the requested Advances under the Loan. Upon receipt from each Lender of such amount, and upon receipt of the documents required by Section Section 7 and 8 and the satisfaction of the other conditions set forth therein, to the extent applicable, the Agent will make available to the Borrower the aggregate amount of such Advances under the Loan made available to the Agent by the Lenders. The failure or refusal of any Lender to make available to the Agent at the aforesaid time and place on any Drawdown Date the amount of its Commitment Percentage of the requested Advances under the Loan shall not relieve any other Lender from its several obligation hereunder to make available to the Agent the amount of such other Lender's Commitment Percentage of any requested Advances under the Loan.

Appears in 1 contract

Samples: Senior Secured Credit Agreement (Calton Inc)

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Funds for Loans. (a) Funding Procedures. Not later than 3:00 2:00 p.m. (Boston Dallas time) ------------------ on the proposed Drawdown Date of any Advances under the LoanLoans, each of the Lenders Banks will make available to the Administrative Agent, at its Head Office, in immediately available funds, the amount of such LenderBank's Commitment Percentage of the amount of the requested Advances under the LoanLoans. Upon receipt from each Lender Bank of such amount, and upon receipt of the documents required by Section Section 7 and 8 9 and the satisfaction of the other conditions set forth therein, to the extent applicable, the Administrative Agent will make available to the Borrower the aggregate amount of such Advances under the Loan Loans made available to the Administrative Agent by the LendersBanks. The failure or refusal of any Lender Bank to make available to the Administrative Agent at the aforesaid time and place on any Drawdown Date the amount of its Commitment Percentage of the requested Advances under the Loan Loans shall not relieve any other Lender Bank from its several obligation hereunder to make available to the Administrative Agent the amount of such other LenderBank's Commitment Percentage of any requested Advances under Loans, but no other Bank shall be liable in respect of the Loanfailure of such Bank to make available such amount.

Appears in 1 contract

Samples: Term Credit Agreement (Pimco Advisors Holdings Lp)

Funds for Loans. (a) Not later than 3:00 1:00 p.m. (Boston time) on the proposed Drawdown Date of any Advances under the Loan, each of the Lenders Banks will make available to the Agent, at its Head Office, in immediately available funds, the amount of such LenderBank's Commitment Percentage of the amount of the requested Advances under the Loan. Upon receipt from each Lender Bank of such amount, and upon receipt of the documents required by Section Section 7 and 8 (S)9 or (S)10, as the case may be, and the satisfaction of the other conditions set forth therein, to the extent applicable, the Agent will make available to the Borrower Borrowers the aggregate amount of such Advances under the Loan Loans made available to the Agent by the LendersBanks. The failure or refusal of any Lender Bank to make available to the Agent at the aforesaid time and place on any Drawdown Date the amount of its Commitment Percentage of the requested Advances under the Loan shall not relieve any other Lender Bank from its several obligation obligations hereunder to make available to the Agent the amount of such other LenderBank's Commitment Percentage of any requested Advances under the Loan.

Appears in 1 contract

Samples: Revolving Credit Agreement (Eastern Environmental Services Inc)

Funds for Loans. (a) Funding Procedures. Not later than 3:00 2:00 p.m. (Boston Dallas time) on the ------------------ proposed Drawdown Date of any Advances under the LoanLoans, each of the Lenders Banks will make available to the Administrative Agent, at its Head Office, in immediately available funds, the amount of such LenderBank's Commitment Percentage of the amount of the requested Advances under the LoanLoans. Upon receipt from each Lender Bank of such amount, and upon receipt of the documents required by Section Section 7 and 8 9 and the satisfaction of the other conditions set forth therein, to the extent applicable, the Administrative Agent will make available to the Borrower the aggregate amount of such Advances under the Loan Loans made available to the Administrative Agent by the LendersBanks. The failure or refusal of any Lender Bank to make available to the Administrative Agent at the aforesaid time and place on any Drawdown Date the amount of its Commitment Percentage of the requested Advances under the Loan Loans shall not relieve any other Lender Bank from its several obligation hereunder to make available to the Administrative Agent the amount of such other LenderBank's Commitment Percentage of any requested Advances under Loans, but no other Bank shall be liable in respect of the Loanfailure of such Bank to make available such amount.

Appears in 1 contract

Samples: Term Credit Agreement (Pimco Advisors Holdings Lp)

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Funds for Loans. (a) Not later than 3:00 2:00 p.m. (Boston time) on the proposed Drawdown Date of any Advances under the Loan, each of the Lenders Banks will make available to the Agent, at its Head Office, in immediately available funds, the amount of such LenderBank's Commitment Percentage of the amount of the requested Advances under the Loan. Upon receipt from each Lender Bank of such amount, and upon if the Agent is in receipt of the documents required by Section Section Sections 7 or 8, as the case may be, and 8 and the satisfaction of the other conditions set forth thereintherein are satisfied, to the extent applicable, the Agent will make available to the Borrower the aggregate amount of such Advances under the Loan made available to the Agent by the LendersBanks. The failure or refusal of any Lender Bank to make available to the Agent at the aforesaid time and place on any Drawdown Date the amount of its Commitment Percentage of the requested Advances under the Loan shall not relieve any other Lender Bank from its several obligation obligations hereunder to make available to the Agent the amount of such other LenderBank's Commitment Percentage of any requested Advances under the Loan.

Appears in 1 contract

Samples: Revolving Credit Agreement (TRC Companies Inc /De/)

Funds for Loans. (a) Not later than 3:00 p.m. 12:00 noon (Boston time) on the proposed Drawdown Date (but subject to the terms of any Advances under the Loanss.2.5), each of the Lenders Banks will make available to the Agent, at its the Agent's Head Office, in immediately available funds, the amount of such LenderBank's Commitment Percentage of the amount of the requested Advances under the each Loan. Upon receipt from each Lender Bank of such amount, and upon receipt of the documents required by Section Section 7 and 8 ss.10 and the satisfaction of the other conditions set forth therein, to the extent applicable, the Agent will make available to the Borrower the aggregate amount of such Advances under the Loan Loans made available to the Agent by the LendersBanks by wire transfer in accordance with Borrower's instructions. The failure or refusal of any Lender Bank to make available to the Agent at the aforesaid time and place on any the Drawdown Date the amount of its Commitment Percentage of the requested Advances under Loans to the extent it is obligated to fund such Loan hereunder shall not relieve any other Lender Bank from its several obligation hereunder to make available to the Agent the amount of such other LenderBank's Commitment Percentage of the Loans. In the event of any requested Advances under such failure or refusal, the LoanBanks not so failing or refusing shall be entitled to a priority position as against the Bank or Banks so failing or refusing for such Loans as provided in ss.12.4.

Appears in 1 contract

Samples: Term Loan Agreement (Ps Business Parks Inc/Ca)

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