Common use of Loan Procedure Clause in Contracts

Loan Procedure. In order to request a Loan, the Borrower shall hand deliver or telecopy to the Lender a duly completed Lending Request in the form of Exhibit A (i) in the case of a Eurodollar Loan, not later than 11:00 a.m., New York City time, three Business Days before such Loan, and (ii) in the case of an ABR Loan, not later than 11:00 a.m., New York City time, one Business Day before such Loan. Such notice shall be irrevocable and shall in each case specify (A) whether the Loan then being requested is to be a Eurodollar Loan or an ABR Loan; (B) the date of such Loan (which shall be a Business Day) and the amount thereof; and (C) if such Loan is to be a Eurodollar Loan, the Interest Period with respect thereto, which shall not end after the Maturity Date. If no election as to the Type of Loan is specified in any such notice, then the requested Loan shall be an ABR Loan. If no Interest Period with respect to any Eurodollar Loan is specified in any such notice, then the Borrower shall be deemed to have selected an Interest Period of one month's duration (subject to the limitations set forth in the definition of "Interest Period"). If the Borrower shall not have given notice in accordance with this Section 2.03 of its election to refinance a Loan prior to the end of the Interest Period in effect for such Loan, then the Borrower shall (unless such Loan is repaid at the end of such Interest Period) be deemed to have given notice of an election to refinance such Loan with an ABR Loan. Notwithstanding any other provision of this Agreement to the contrary, no Loan shall be requested if the Interest Period with respect thereto would end after the scheduled Maturity Date.

Loan Procedure. In order to request a Loan to refinance Loans made under Section 2.04(b) or to refinance any such Loan, the Borrower shall hand deliver or telecopy to the Lender a duly completed Lending Request in the form of Exhibit A (i) in the case of a Eurodollar Loan, not later than 11:00 a.m., New York City time, three Business Days before such Loan, and (ii) in the case of an ABR Loan, not later than 11:00 a.m., New York City time, one Business Day before such Loan. Such notice shall be irrevocable and shall in each case specify (A) whether the Loan then being requested is to be a Eurodollar Loan or an ABR Loan; (B) the date of such Loan (which shall be a Business Day) and the amount thereof; and (C) if such Loan is to be a Eurodollar Loan, the Interest Period with respect thereto, which shall not end after the Maturity Date. If no election as to the Type of Loan is specified in any such notice, then the requested Loan shall be an ABR Loan. If no Interest Period with respect to any Eurodollar Loan is specified in any such notice, then the Borrower shall be deemed to have selected an Interest Period of one month's duration (subject to the limitations set forth in the definition of "Interest Period"). If the Borrower shall not have given notice in accordance with this Section 2.03 of its election to refinance a Loan prior to the end of the Interest Period in effect for such Loan, then the Borrower shall (unless such Loan is repaid at the end of such Interest Period) be deemed to have given notice of an election to refinance such Loan with an ABR Loan. Notwithstanding any other provision of this Agreement to the contrary, no Loan shall be requested if the Interest Period with respect thereto would end after the scheduled Maturity Date.