Common use of LIBOR Borrowing Clause in Contracts

LIBOR Borrowing. (a) Each request by the Company for a LIBOR Borrowing shall be made pursuant to a Request for Borrowing, executed by a Designated Responsible Official, received by the Agent, at the Agent's office, not later than 9:00 a.m., California time, at least three (3) LIBOR Banking Days before the first day of the applicable LIBOR Period. The Agent will notify each Bank of its receipt of a Request for Borrowing in accordance with Section 3.1(f). (b) Each Request for Borrowing pertaining to a LIBOR Borrowing shall designate the LIBOR Period applicable to such LIBOR Borrowing. If any Request for Borrowing fails to specify the duration of the LIBOR Period for the requested LIBOR Borrowing, the LIBOR Period shall be one month. (c) At or about 9:00 a.m., California time, one (1) LIBOR Banking Day after the LIBOR Banking Day on which Agent receives the Company's Request for Borrowing, the Agent shall determine the applicable LIBOR Rate (which determination shall be conclusive in the absence of manifest error) and shall promptly give notice of the same to the Company and the Banks by telephone, telecopier or telex. (d) Upon fulfillment of the applicable conditions set forth in Article 6, a LIBOR Borrowing shall become effective on the first day of the applicable LIBOR Period. (e) The Agent in its sole discretion may require the Company to request any LIBOR Borrowing of $100,000,000 or more, or any redesigna tion of a Reference Rate Borrowing of $100,000,000 or more as a LIBOR Borrowing, at a time or on a day which is earlier than the deadline stated above (or for redesignations of Reference Rate Borrowings, stated Section 3.4 below) for making such a request. The Company acknowledges that if this happens, the LIBOR Period for that LIBOR Borrowing could begin later than the Company had originally contemplated. The Company consents to any and all such delays. (f) Nothing contained herein shall require the Banks to fund any LIBOR Borrowing in the London interbank eurodollar market.

LIBOR Borrowing. (a) Each request by the Company for a LIBOR Borrowing shall be made pursuant to a Request for Borrowing, executed by a Designated Responsible Official, received by the Agent, at the Agent's office, not later than 9:00 a.m., California time, at least three (3) LIBOR Banking Days before the first day of the applicable LIBOR Period. The Agent will notify each Bank of its receipt of a Request for Borrowing in accordance with Section SECTION 3.1(f). (b) Each Request for Borrowing pertaining to a LIBOR Borrowing shall designate the LIBOR Period applicable to such LIBOR Borrowing. If any Request for Borrowing fails to specify the duration of the LIBOR Period for the requested LIBOR Borrowing, the LIBOR Period shall be one month. (c) At or about 9:00 a.m., California time, one (1) LIBOR Banking Day after the LIBOR Banking Day on which Agent receives the Company's Request for Borrowing, the Agent shall determine the applicable LIBOR Rate (which determination shall be conclusive in the absence of manifest error) and shall promptly give notice of the same to the Company and the Banks by telephone, telecopier or telex. (d) Upon fulfillment of the applicable conditions set forth in Article 6, a LIBOR Borrowing shall become effective on the first day of the applicable LIBOR Period. (e) The Agent in its sole discretion may require the Company to request any LIBOR Borrowing of $100,000,000 or more, or any redesigna tion redesignation of a Reference Rate Borrowing of $100,000,000 or more as a LIBOR Borrowing, at a time or on a day which is earlier than the deadline stated above (or for redesignations of Reference Rate Borrowings, stated Section SECTION 3.4 below) for making such a request. The Company acknowledges that if this happens, the LIBOR Period for that LIBOR Borrowing could begin later than the Company had originally contemplated. The Company consents to any and all such delays. (f) Nothing contained herein shall require the Banks to fund any LIBOR Borrowing in the London interbank eurodollar market.