Common use of Loan Procedure Clause in Contracts

Loan Procedure. (a) Subject to compliance with Section 5, Borrower may request a Loan under the Revolving Credit Facility or the Term Loan by submitting a Loan Request to Lender. A Loan Request is irrevocable and binding on Borrower. Each Loan Request must be received by Lender no later than 11:00 a.m. on (a) the third Business Day preceding the proposed Loan Date for a LIBOR Loan, and (b) the proposed Loan Date for a Base Rate Loan. Each Loan Date must be a Business Day, and each Loan Date under the Revolving Credit Facility must occur before the Revolving Credit Termination Date. Each Loan under the Revolving Credit Facility is subject to the following conditions: (i) each Loan (unless the remaining amount under clause (ii) below is less) must be in an amount not less than $50,000 or a greater integral multiple of $10,000; (ii) no Loan may exceed an amount equal to the excess of the Revolving Credit Limit over the Revolving Credit Exposure; and (iii) after giving effect to any Loan, the Revolving Credit Exposure may not exceed the Revolving Credit Limit. (b) Each Loan under the Revolving Credit Facility or the Term Loan will be deposited by Lender into Borrower’s account with Lender set out on Schedule 1. (c) From time to time, Lender may provide certain treasury or cash management services to Borrower under which Borrower incurs Loans under the Revolving Credit Facility. While a Cash Management Agreement is in effect, Borrower may repay the Revolving Principal Amount under the terms of the Cash Management Agreement without notice. Each Borrower hereby authorizes Lender to honor all checks or other drafts received against the accounts subject to the Cash Management Agreement. Subject to Section 2.3(c), Loans borrowed under the terms of any Cash Management Agreement between Borrower and Lender shall be borrowed as LIBOR Loans.

Loan Procedure. (a) Subject to compliance with Section 5, Borrower may request a Loan under the Revolving Credit Facility or the Term Loan by submitting a Loan Request to Lender. A Loan Request is irrevocable and binding on Borrower. Each Loan Request must be received by Lender no later than 11:00 a.m. on (a) the third Business Day preceding the proposed Loan Date for a LIBOR Loan, and (b) the proposed Loan Date for a Base Rate LoanDate. Each Loan Date must be a Business Day, and each . Each Loan Date under the Revolving Credit Facility must occur on or before the Revolving Credit Termination Date. . (b) Each Loan under the Revolving Credit Facility is subject to the following conditions: (i) each Loan must occur on a Business Day and must occur on or before the Revolving Credit Termination Date; (ii) unless otherwise approved by Lender, each Loan (unless the remaining amount under clause (ii) below is less) must be in an amount not less than $50,000 10,000 or a greater integral multiple of $10,0001,000; (iiiii) no Loan may exceed an amount equal to the excess of the Revolving Credit Limit over the Revolving Credit ExposurePrincipal Amount; and (iiiiv) after giving effect to any Loan, the Revolving Credit Exposure Principal Amount may not exceed the Revolving Credit Limit. (bc) Each Loan under the Revolving Credit Facility or the Term Loan will be deposited by Lender into Borrower’s account with Lender set out on Schedule 1. (cd) Each Loan shall be a LIBOR Loan unless LIBOR is unavailable. If LIBOR is unavailable, each Loan shall be immediately converted into and shall be outstanding as a Base Rate Loan until LIBOR once again becomes available, at which time each such Loan shall be automatically converted into a LIBOR Loan. (e) From time to time, Lender may provide certain treasury or cash management services to Borrower under which Borrower incurs Loans under the Revolving Credit Facility. While a Cash Management Agreement cash management agreement or arrangement is in effect, Borrower may repay the Revolving Principal Amount under the terms of the Cash Management Agreement cash management agreement or arrangement without notice. Each Borrower hereby authorizes Lender to honor all checks or other drafts received against the accounts subject to the Cash Management Agreementcash management agreement or arrangement. Subject to Section 2.3(c)2.2(d) , Loans borrowed under the terms of any Cash Management Agreement cash management agreement or arrangement between Borrower and Lender shall be borrowed as LIBOR Loans.

Loan Procedure. (a) Subject to compliance with Section 5, Borrower Representative may request a Loan under the Revolving Credit Facility or the Term Loan by submitting a Loan Request to Lender. Each Loan Request shall specify the Loan Date and the amount of the Loan. A Loan Request is irrevocable and binding on BorrowerBorrowers. Each Loan Request must be received by Lender no later than 11:00 10:00 a.m. on (a) the third Business Day preceding the proposed Loan Date for a LIBOR Loan, and (b) the proposed Loan Date for a Base Rate LoanDate. Each Loan Date must be a Business Day, Day and each Loan Date under the Revolving Credit Facility must occur before the Revolving Credit Termination Date. Each . (b) In addition to the conditions set forth in Section 5, each Loan under the Revolving Credit Facility is subject to the following conditions: : (i) each Loan must occur on a Business Day and no later than the Business Day immediately preceding the Revolving Credit Termination Date; (ii) when made, each Loan (unless the remaining amount under clause (iiiii) below is less) must be in an amount not less than $50,000 or a greater integral multiple of $10,000; 1,000; (iiiii) no Loan may exceed an amount equal to the excess of the Revolving Credit Limit over the Revolving Credit Exposure; and and (iiiiv) after giving effect to any Loan, the Revolving Credit Exposure may not exceed the Revolving Credit Limit. (bc) Each Loan under the Revolving Credit Facility or the Term Loan will be deposited by Lender ▇▇▇▇▇▇ into BorrowerBorrower Representative’s operating account with Lender set out on Schedule 1or disbursed pursuant to written instructions by Borrower Representative which have been accepted and approved by ▇▇▇▇▇▇ in its Permitted Discretion. (cd) From time to time, Lender may provide certain treasury or cash management services to Borrower Borrowers under which Borrower incurs Loans under the Revolving Credit FacilityFacility are automatically made and repaid. While a Cash Management Agreement is in effect, Borrower Borrowers may repay the Revolving Principal Amount under the terms of the Cash Management Agreement without notice. Each Borrower hereby authorizes Lender to honor all checks or other drafts received against the accounts subject to the Cash Management Agreement. Subject to Section 2.3(c), Loans borrowed under the terms of any Cash Management Agreement between Borrower and Lender shall be borrowed as LIBOR Loans.