Common use of Loans-General Clause in Contracts

Loans-General. (a) Subject to the terms and conditions set forth in this Agreement (including Section 8.2), at any time and from time to time from the Closing Date through the Business Day immediately preceding the Maturity Date, each Bank shall, pro rata according to that Bank's Pro Rata Share of the Commitment then in effect, make Advances to Borrower under the Commitment in such amounts as Borrower may request; provided that after giving effect to such Advance, the Total Outstandings shall not exceed the Commitment. Subject to the limitations set forth herein, Borrower may borrow, repay and reborrow under this Section 2.1 (a) without premium or penalty. In no event shall the Banks be obligated to make Loans to the Borrower at any time if, after giving effect to such Loans, the provisions of Section 6.17 would be violated. (b) [Intentionally Omitted] (c) Subject to the next sentence and to Sections 2.4(e) and 2.5(c), each Loan shall be made pursuant to Borrower's irrevocable Loan Notice to the Administrative Agent, which shall specify the requested (i) date of such Loan, (ii) type of Loan, (iii) amount of such Loan and (iv) in the case of a Eurodollar Rate Loan, Interest Period for such Loan. Each telephonic Loan Notice by the Borrower pursuant to this Section 2.1(c) must be confirmed promptly by delivery to the Administrative Agent of a written Loan Notice, appropriately completed and signed by a Responsible Official of the Borrower. (d) Promptly following receipt of a Loan Notice, the Administrative Agent shall notify each Bank by telephone, telecopier or telex of the date and type of the Loan, the applicable Interest Period in the case of a Eurodollar Rate Loan, and that Bank's Pro Rata Share of the Loan. Not later than 12:00 noon, Los Angeles time, on the date specified for any Loan, each Bank shall make its Pro Rata Share of the Loan in immediately available funds available to the Administrative Agent at the Administrative Agent's Office. Upon fulfillment of the applicable conditions set forth in Article VIII, all Advances shall be credited in immediately available funds to the Designated Deposit Account. (e) The principal amount of each Loan shall be an integral multiple of $1,000,000 and shall be in an amount not less than (i) $1,000,000 if such Loan is a Base Rate Loan and (ii) $5,000,000 if such Loan is a Eurodollar Rate Loan. (f) A Loan Notice shall be irrevocable upon the Administrative Agent's first notification thereof. The obligation of each Bank to make any Advance is several, and not joint or joint and several, and is not conditioned upon the performance by any other Bank of its obligation to make Advances. The failure by any Bank to perform its obligation to make any Advance will not increase the obligation of any other Bank to make Advances. (g) Borrower may redesignate a Base Rate Loan as a Eurodollar Rate Loan, or a Eurodollar Rate Loan as a Base Rate Loan or a Eurodollar Rate Loan with a new Interest Period, by delivering a Loan Notice to the Administrative Agent, within the time periods and pursuant to the conditions set forth in Section 2.1(c), 2.2 or 2.3, as applicable, and elsewhere in this Agreement. If no Loan Notice has been made prior to the last day of the Interest Period for an outstanding Eurodollar Rate Loan within the requisite notice periods set forth in Section 2.3, then Borrower shall be deemed to have requested that such Eurodollar Rate Loan be redesignated as a Base Rate Loan. (h) The Advances made by each Bank under this Section 2.1 shall be evidenced by that Bank's Note.

Appears in 1 contract

Sources: Revolving Loan Agreement (Kb Home)

Loans-General. (a) Subject to the terms and conditions set forth in this Agreement (including Section 8.2)Agreement, at any time and from time to time from the Closing Date through the Business Day immediately preceding Date, to, but excluding, the Maturity Date, each Bank Lender shall, pro rata according to that BankLender's Pro Rata Share of the Commitment then in effectCommitment, make Advances to Borrower under the Commitment in such amounts as Borrower may request; request provided that that, after giving effect to such AdvanceAdvances, the Total Outstandings shall Facility Usage does not exceed the CommitmentMaximum Credit Amount. Subject to the limitations set forth herein, Borrower may borrow, repay and reborrow under this Section 2.1 (a) the Commitment without premium or penalty. In no event shall the Banks be obligated to make Loans to the Borrower at any time if, after giving effect to such Loans, the provisions of Section 6.17 would be violated. (b) [Intentionally Omitted] (c) Subject to the next sentence and to Sections 2.4(e) and 2.5(c)sentence, each Loan shall be made pursuant to Borrower's irrevocable a Request for Loan Notice to the Administrative Agent, which shall specify the requested (i) date of such Loan, (ii) type of Loan, (iii) amount of such Loan and (iv) in the case of a Eurodollar Rate Loan, Interest the Eurodollar Period for such Loan. Each telephonic Loan Notice by Unless the Agent has notified, in its sole and absolute discretion, Borrower pursuant to this Section 2.1(c) must be confirmed promptly by delivery to the Administrative Agent of contrary, a written Loan Notice, appropriately completed and signed may be requested by telephone by a Responsible Official Senior Officer of Borrower, in which case Borrower shall confirm such request by promptly delivering a Request for Loan in person or by telecopier conforming to the preceding sentence to the Agent. The Agent shall incur no liability whatsoever hereunder in acting reasonably upon any telephonic request for Loan purportedly made by a Senior Officer of Borrower, which hereby agrees to indemnify the Agent from any loss, cost, expense or liability as a result of so acting. (dc) Promptly following receipt of a Loan NoticeRequest for Loan, the Administrative Agent shall notify each Bank Lender by telephone or telecopier (and if by telephone, telecopier or telex promptly confirmed by telecopier) of the date and type of the Loan, the applicable Interest Period in the case of a Eurodollar Rate LoanPeriod, and that BankLender's Pro Rata Share of the Loan. Not later than 12:00 noon11:00 a.m., Los Angeles San Francisco time, on the date specified for any LoanLoan (which must be a Banking Day), each Bank Lender shall make its Pro Rata Share of the Loan in immediately available funds available to the Administrative Agent at the Administrative Agent's Office. Upon fulfillment satisfaction or waiver of the applicable conditions set forth in Article VIII, 8 all Advances shall be credited on that date in immediately available funds to the Designated Deposit Account. (ed) The principal amount of each Each Alternate Base Rate Loan shall be not less than $500,000 and shall be an integral multiple of $1,000,000 100,000 and each Eurodollar Rate Loan shall be not less than $5,000,000 and shall be in an amount not less than integral multiple of $500,000. (ie) $1,000,000 if such Loan is a Base Rate Loan and (ii) $5,000,000 if such Loan is a Eurodollar Rate LoanThe Advances made by each Lender shall be evidenced by that Lender's Note. (f) A Request for Loan Notice shall be irrevocable upon the Administrative Agent's first notification thereof. The obligation of each Bank to make any Advance is several, and not joint or joint and several, and is not conditioned upon the performance by any other Bank of its obligation to make Advances. The failure by any Bank to perform its obligation to make any Advance will not increase the obligation of any other Bank to make Advances. (g) Borrower may redesignate a Base Rate If no Request for Loan as a Eurodollar Rate Loan, (or a Eurodollar Rate Loan as a Base Rate Loan or a Eurodollar Rate Loan with a new Interest Period, by delivering a Loan Notice telephonic request for loan referred to in the Administrative Agent, within the time periods and pursuant to the conditions set forth in second sentence of Section 2.1(c2.1(b), 2.2 or 2.3, as if applicable, and elsewhere in this Agreement. If no Loan Notice ) has been made prior to the last day of the Interest Period for an outstanding Eurodollar Rate Loan within the requisite notice periods set forth in Section 2.32.2 or 2.3 in connection with a Loan which, then if made and giving effect to the application of the proceeds thereof, would not increase the outstanding principal Indebtedness evidenced by the Notes, then, unless Borrower shall have earlier repaid such Loan, Borrower shall be deemed to have requested that such Eurodollar requested, as of the date upon which the related then outstanding Loan is due pursuant to Section 3.1(e)(i), an Alternate Base Rate Loan be redesignated as a Base Rate Loanin an amount equal to the amount necessary to cause the outstanding principal Indebtedness evidenced by the Notes to remain the same and, subject to Section 8.3, the Lenders shall make such Advances necessary to make such Loan notwithstanding Sections 2.2 and 2.3. (h) The Advances If a Loan is to be made by each Bank under on the same date that another Loan is due and payable, Borrower or the Lenders, as the case may be, shall make available to the Agent the net amount of funds giving effect to both such Loans and the effect for purposes of this Section 2.1 Agreement shall be evidenced by that Bank's Notethe same as if separate transfers of funds had been made with respect to each such Loan.

Appears in 1 contract

Sources: Revolving Loan Agreement (Central Financial Acceptance Corp)

Loans-General. (a) Subject to the terms and conditions set forth in this Agreement (including Section 8.2)Agreement, at any time and from time to time from the Closing Date through the Business Day immediately preceding the Maturity Date, each Bank Lender shall, pro rata according to that BankLender's Pro Rata Share of the Commitment then in effectapplicable Commitment, make Advances to Borrower under the Commitment in such amounts as Borrower may request; provided request that after giving effect to such Advancedo not result in the sum of (i) the aggregate principal amount outstanding under the Notes, plus (ii) the Total Aggregate Effective Amount of all outstanding Letters of Credit plus (iii) the Swing Line Outstandings shall not exceed exceeding the then applicable Commitment. Subject to the limitations set forth herein, Borrower may borrow, repay and reborrow under this Section 2.1 (a) the Commitment without premium or penalty. In no event shall the Banks be obligated to make Loans to the Borrower at any time if, after giving effect to such Loans, the provisions of Section 6.17 would be violated. (b) [Intentionally Omitted] (c) Subject to the next sentence and to Sections 2.4(e) and 2.5(c)sentence, each Loan shall be made pursuant to Borrower's irrevocable a Request for Loan Notice to the Administrative Agent, which shall specify the requested (i) date of such Loan, (ii) type of Loan, (iii) amount of such Loan Loan, and (iv) in the case of a Eurodollar Rate Loan, the Interest Period for such Loan. Each telephonic Loan Notice by the Borrower pursuant to this Section 2.1(c) must be confirmed promptly by delivery to Unless the Administrative Agent of has notified, in its sole and absolute discretion, Borrower to the contrary, a written Loan Notice, appropriately completed and signed may be requested by telephone by a Responsible Official of Borrower, in which case Borrower shall confirm such request by promptly delivering a Request for Loan in person or by telecopier conforming to the preceding sentence to the Administrative Agent. Administrative Agent shall incur no liability whatsoever hereunder in acting upon any telephonic request for Loan purportedly made by a Responsible Official of Borrower, and Borrower hereby agrees to indemnify the Administrative Agent from any loss, cost, expense or liability as a result of so acting. In the case of the initial Loan and Letters of Credit to be made and issued on the Closing Date, the related Request for Loan and Request for Letter of Credit to be delivered by the Borrower shall be delivered to the Administrative Agent no later than 12:00 noon (California time), one day before the Closing Date, and such Loan shall be an Alternate Base Rate Loan. (dc) Promptly following receipt of a Loan NoticeRequest for Loan, the Administrative Agent shall notify each Bank Lender by telephone or telecopier (and if by telephone, telecopier or telex promptly confirmed by telecopier) of the date and type of the Loan, the applicable Interest Period in the case of a Eurodollar Rate LoanPeriod, and that BankLender's Pro Rata Share of the Loan. Not later than 12:00 noon11:00 a.m., Los Angeles California time, on the date specified for any LoanLoan (which must be a Banking Day), each Bank Lender shall make its Pro Rata Share of the Loan in immediately available funds available to the Administrative Agent at the Administrative Agent's Office. Upon fulfillment satisfaction or waiver of the applicable conditions set forth in Article VIII8, all Advances shall be credited on that date in immediately available funds to the Designated Deposit Account. (ed) The principal amount of Unless the Requisite Lenders otherwise consent, each Loan shall be an integral multiple of $1,000,000 and shall be in an amount not less than $5,000,000. (ie) $1,000,000 if such Loan is a Base Rate Loan and (ii) $5,000,000 if such Loan is a Eurodollar Rate LoanThe Advances made by each Lender shall be evidenced by that Lender's Note. (f) A Request for Loan Notice shall be irrevocable upon the Administrative Agent's first notification thereof. The obligation of each Bank to make any Advance is several, and not joint or joint and several, and is not conditioned upon the performance by any other Bank of its obligation to make Advances. The failure by any Bank to perform its obligation to make any Advance will not increase the obligation of any other Bank to make Advances. (g) Borrower may redesignate a Base Rate If no Request for Loan as a Eurodollar Rate Loan, (or a Eurodollar Rate telephonic request for Loan as a Base Rate Loan or a Eurodollar Rate Loan with a new Interest Period, by delivering a Loan Notice referred to in the Administrative Agent, within the time periods and pursuant to the conditions set forth in second sentence of Section 2.1(c2.1(b), 2.2 or 2.3, as if applicable, and elsewhere in this Agreement. If no Loan Notice ) has been made prior to the last day of the Interest Period for an outstanding Eurodollar Rate Loan within the requisite notice periods set forth in Section 2.32.2 or 2.3 prior to the end of the Interest Period for any Eurodollar Rate Loan, then Borrower shall be deemed to have requested that on the last day of such Interest Period, such Eurodollar Rate Loan shall be redesignated as a automatically converted into an Alternate Base Rate LoanLoan in the same amount. (h) The Advances If a Loan is to be made by each Bank under on the same date that another Loan is due and payable, Borrower or the Lenders, as the case may be, shall make available to the Administrative Agent the net amount of funds giving effect to both such Loans and the effect for purposes of this Section 2.1 Agreement shall be evidenced by that Bank's Notethe same as if separate transfers of funds had been made with respect to each such Loan.

Appears in 1 contract

Sources: Reducing Revolving Loan Agreement (Aztar Corp)

Loans-General. (a) Subject to the terms and conditions set forth in this Agreement (including Section 8.2)Agreement, at any time and from time to time from the Closing Date through the Business Day immediately preceding the Maturity Date, each Bank Lender shall, pro rata according to that Bank's its Pro Rata Share of the Commitment then in effectapplicable Commitment, make Advances to Borrower under the Commitment in such amounts as Borrower may requestrequest that do not exceed in the aggregate at any one time outstanding the amount of that Lender's pro Rata Share of the then applicable Commitment; provided that that, after giving effect to the Loan of which such AdvanceAdvance is a part, the Total Outstandings Outstanding Balance shall not exceed the Commitment. Subject to the limitations set forth herein, Borrower may borrow, repay and reborrow under this Section 2.1 (a) the Commitment without premium or penalty. In no event shall the Banks be obligated to make Loans to the Borrower at any time if, after giving effect to such Loans, the provisions of Section 6.17 would be violated. (b) [Intentionally Omitted] (c) Subject to the next sentence and to Sections 2.4(e) and 2.5(c)sentence, each Loan shall be made pursuant to Borrower's irrevocable a Request for Loan Notice to the Administrative Agent, which shall specify the requested (i) date of such Loan, (ii) type Type of Loan, (iii) amount of such Loan and (iv) in the case of if a Eurodollar Rate LoanLoan is requested, Interest the Eurodollar Period for such Loan. Each telephonic Loan Notice by the Borrower pursuant to this Section 2.1(c) must be confirmed promptly by delivery to Unless the Administrative Agent of has notified, in its sole and absolute discretion, Borrower to the contrary, a written Loan Noticemay be requested by telephone, appropriately completed and signed telecopier or telex by a Responsible Official of Borrower or by any Designated Employee, in which case Borrower shall promptly confirm such request by transmitting a telecopy of, or at Administrative Agent's request by mailing, a Request for Loan conforming to the Borrowerpreceding sentence to Administrative Agent. (dc) Promptly following receipt of a Loan NoticeRequest for Loan, the Administrative Agent shall notify each Bank Lender by telephone, telecopier or telex of the date and type Type of the Loan, the any applicable Interest Period in the case of a Eurodollar Rate LoanPeriod, and that BankLender's Pro Rata Share of the Loan. Not later than 12:00 noon, Los Angeles 11:00 a.m. (California time), on the date specified for any Loan, each Bank Lender shall make its Pro Rata Share of the Loan in immediately available funds available to the Administrative Agent at the Administrative Agent's OfficeOffice in immediately available funds. Upon fulfillment of the applicable conditions set forth in Article VIII8, all Advances shall be credited in immediately available funds to the Designated Deposit Account. (ed) The principal amount of Unless the Majority Lenders otherwise consent, each Base Rate Loan shall be an integral multiple of $1,000,000 and shall be in an amount 100,000 but not less than (i) $1,000,000 if such Loan is a Base 500,000 and each Eurodollar Rate Loan and shall be an integral multiple of $500,000 but not less than $1,000,000. (iie) $5,000,000 if such Loan is a Eurodollar Rate LoanThe Advances made by each Lender under its Pro Rata Share of the Commitment shall be evidenced by that Lender's RLC Note. (f) A Request for Loan Notice shall be irrevocable upon the Administrative Agent's first notification thereof. The obligation of each Bank to make any Advance is several, and not joint or joint and several, and is not conditioned upon the performance by any other Bank of its obligation to make Advances. The failure by any Bank to perform its obligation to make any Advance will not increase the obligation of any other Bank to make Advances. (g) Borrower may redesignate a Base Rate The purpose of the Commitment is to provide for the working capital needs and general corporate purposes of the Borrower. (h) If no Request for Loan as a Eurodollar Rate Loan, (or a Eurodollar Rate Loan as a Base Rate Loan telephonic or a Eurodollar Rate Loan with a new Interest Period, by delivering other request for a Loan Notice referred to in the Administrative Agent, within the time periods and pursuant to the conditions set forth in second sentence of Section 2.1(c2.1(b), 2.2 or 2.3, as if applicable, and elsewhere in this Agreement. If no Loan Notice ) has been made prior to the last day of the Interest Period for an outstanding Eurodollar Rate Loan within the requisite notice periods set forth in Section 2.3Sections 2.2 and 2.3 in connection with a Loan which, if made, would not increase the outstanding principal Indebtedness outstanding under the Commitment, then Borrower shall be deemed to have requested that such Eurodollar Rate Loan be redesignated as a Base Rate LoanLoan in an amount equal to the amount necessary to cause such outstanding principal Indebtedness to remain the same and, subject to Section 8.2 the Lenders shall make the Advances necessary to make such Loan notwithstanding Sections 2.1(b) and 2.2. (hi) The Advances If a Loan is to be made by each Bank under on the same date that another Loan is due and payable, Borrower or the Lenders, as the case may be, shall make available to the Administrative Agent the net amount of funds giving effect to both such loans, and the effect for purposes of this Section 2.1 Agreement shall be evidenced by that Bank's Notethe same as if separate transfers of funds had been made with respect to each such Loan.

Appears in 1 contract

Sources: Credit Agreement (B&f Fabrications Inc)

Loans-General. (a) Subject to the terms and conditions set forth in this Agreement (including Section 8.2), at any time and from time to time from the Closing Restatement Date through and including the Business Day immediately preceding the Maturity Date, each Bank shall, pro rata according to that Bank's ’s Pro Rata Share of the Commitment then in effect, make Advances to the Borrower under the Commitment in such amounts as the Borrower may request; provided that that, after giving effect to such Advance, the Total Outstandings shall not exceed the Commitmentaggregate Commitments and Borrowing Base Indebtedness shall not exceed the Borrowing Base. Subject to the limitations set forth herein, the Borrower may borrow, repay and reborrow under this Section 2.1 (a2.1(a) without premium or penalty. In no event shall the Banks be obligated to make Loans to the Borrower at any time if, after giving effect to such Loans, the provisions of Section 6.17 would be violated. (b) [Intentionally Omitted]. (c) Subject to the next sentence and to Sections 2.4(e) and Section 2.5(c), each Loan shall be made pursuant to the Borrower's ’s irrevocable Loan Notice to the Administrative Agent, which shall specify the requested (i) date of such Loan, (ii) type Type of Loan, (iii) amount of such Loan and (iv) in the case of a Eurodollar Rate Loan, Interest Period for such Loan. Each telephonic Any Loan Notice delivered under this Agreement may be delivered by the Borrower pursuant to this Section 2.1(c) must be confirmed promptly by delivery mail, email, telecopier or as otherwise acceptable to the Administrative Agent of a written Loan Notice, appropriately completed and signed by a Responsible Official of the BorrowerAgent. (d) Promptly following receipt of a Loan Notice, the Administrative Agent shall notify each Bank by telephone, telecopier or telex electronic communication of the date and type Type of the Loan, the applicable Interest Period in the case of a Eurodollar Rate Loan, and that Bank's ’s Pro Rata Share of the Loan. Not later than 12:00 noon, Los Angeles 1:00 p.m. New York time, on the date specified for any Loan, each Bank shall make its Pro Rata Share of the Loan in immediately available funds available to the Administrative Agent at the Administrative Agent's ’s Office. Upon fulfillment of the applicable conditions set forth in Article VIII, all Advances shall be credited in immediately available funds to the Designated Deposit Account. (e) The principal amount of each Loan shall be an integral multiple of $1,000,000 and shall be in an amount not less than (i) $1,000,000 if such Loan is a Base Rate Loan and (ii) $5,000,000 if such Loan is a Eurodollar Rate Loan. (f) A Loan Notice shall be irrevocable upon the Administrative Agent's ’s first notification thereof. The obligation of each Bank to make any Advance is several, and not joint or joint and several, and is not conditioned upon the performance by any other Bank of its obligation to make Advances. The failure by any Bank to perform its obligation to make any Advance will not increase the obligation of any other Bank to make Advances. (g) The Borrower may redesignate a Base Rate Loan as a Eurodollar Rate Loan, or a Eurodollar Rate Loan as a Base Rate Loan or a Eurodollar Rate Loan with a new Interest Period, by delivering a Loan Notice to the Administrative Agent, within the time periods and pursuant to the conditions set forth in Section 2.1(c), 2.2 or 2.3, as applicable, and elsewhere in this Agreement. If no Loan Notice has been made prior to the last day of the Interest Period for an outstanding Eurodollar Rate Loan within the requisite notice periods set forth in Section 2.3, then the Borrower shall be deemed to have requested that such Eurodollar Rate Loan be redesignated as a Base Rate Loan. (h) The Advances made by each Bank under this Section 2.1 shall be evidenced by that Bank's Note’s Note to the extent requested by such Bank.

Appears in 1 contract

Sources: Revolving Credit Agreement (WCI Communities, Inc.)

Loans-General. (a) Subject to the terms and conditions set forth in this Agreement (including Section 8.2)Agreement, at any time and from time to time from on the 2000 Closing Date through the Business Day immediately preceding the Maturity Date, each Bank shall, pro rata according to that Bank's Pro Rata Share of the Commitment then in effectCommitment, make Advances Advances, to Borrower under the Commitment in such amounts as Borrower may requestrequest in one or more Request(s) for Loan(s); provided that after giving effect to such AdvanceAdvance(s), the Total Outstandings aggregate outstanding principal evidenced by the Notes shall equal but not exceed the Commitment. Subject Borrower may not borrow under this Section 2.1(a) subsequent to the limitations set forth herein2000 Closing Date, Borrower may borrow, or repay and reborrow under this Section 2.1 (a) without premium or penalty. In no event shall the Banks be obligated to make Loans to the Borrower at any time if, after giving effect to such Loans, the provisions of Section 6.17 would be violated2.1(a). (b) [Intentionally Omitted] (c) Subject to the next sentence and to Sections 2.4(e) and 2.5(c)sentence, each Loan shall be made pursuant to Borrower's irrevocable a Request for Loan Notice which shall be in a form and shall contain information specified from time to time by the Administrative Agent, Agent and which shall specify the requested (i) date of such Loan, (ii) type of Loan, (iii) amount of such Loan and (iv) in the case of a Eurodollar Rate LIBOR Loan, Interest Period for such Loan. Each telephonic Loan Notice by Unless the Administrative Agent, in its sole and absolute discretion, has notified Borrower pursuant to this Section 2.1(c) must be confirmed promptly by delivery to the Administrative Agent of a written contrary, each Loan Notice, appropriately completed and signed may be requested by telephone (promptly confirmed in writing) or telecopier by a Responsible Official of Borrower, and Borrower shall confirm such request by promptly mailing a Request for Loan conforming to the Borrowerpreceding sentence to the Administrative Agent. (dc) Promptly following receipt of a Loan NoticeRequest for Loan, the Administrative Agent shall notify each Bank by telephone, telecopier or telex of the date and type of the Loan, the applicable Interest Period in the case of a Eurodollar Rate LIBOR Loan, and that Bank's Pro Rata Share of the Loan. Not later than 12:00 noon11:00 a.m., Los Angeles California time, on the date specified for any Loan, each Bank shall make its Pro Rata Share of the Loan in immediately available funds available to the Administrative Agent at the Administrative Agent's Office. Upon fulfillment of the applicable conditions set forth in Article VIII8, all Advances shall be credited in immediately available funds to the Designated Deposit Account. (ed) The principal amount of each Loan shall be an integral multiple of $1,000,000 and shall be in an amount not less than (i) $1,000,000 if such Loan is a Base Prime Rate Loan and (ii) $5,000,000 if such Loan is a Eurodollar Rate LIBOR Loan. (fe) A Request for Loan Notice shall be irrevocable upon the Administrative Agent's first notification thereof. The obligation of each Bank to make any Advance is several, and not joint or joint and several, and is not conditioned upon the performance by any other Bank of its obligation to make Advances. The failure by any Bank to perform its obligation to make any Advance will not increase the obligation of any other Bank to make Advances. (gf) Borrower may redesignate a Base Prime Rate Loan as a Eurodollar Rate LIBOR Loan, or a Eurodollar Rate LIBOR Loan as a Base Prime Rate Loan or a Eurodollar Rate LIBOR Loan with a new Interest Period, by delivering a Loan Notice Request for Redesignation to the Administrative Agent, within the time periods and pursuant to the conditions set forth in Section 2.1(c2.1(b), 2.2 or 2.3, as applicable, and elsewhere in this Agreement. If no Loan Notice Request for Redesignation (or telephonic or other request referred to in the second sentence of Section 2.1(b), if applicable) has been made prior to the last day of the Interest Period for an outstanding Eurodollar Rate LIBOR Loan within the requisite notice periods set forth in Section 2.3, then Borrower shall be deemed to have requested that such Eurodollar Rate Loan be redesignated as a Base Rate Loan. (h) The Advances made by each Bank under this Section 2.1 shall be evidenced by that Bank's Note.in

Appears in 1 contract

Sources: Term Loan Agreement (Kb Home)

Loans-General. (a) Subject to the terms and conditions set forth in this Agreement (including Section 8.2)Agreement, at any time and from time to time from on the Closing Date through the Business Day immediately preceding the Maturity Date, each Bank the Lenders shall, pro rata according to that Bank's Pro Rata Share of the Commitment then in effecteach Lender’s Percentage, make Advances a single disbursement to Borrower under not to exceed the Commitment Loan Commitment, provided that in such amounts as all events no Default or Event of Default shall have occurred and be continuing and all conditions to Advances hereunder shall have been satisfied or waived. Borrower may request; provided that after giving effect to such Advance, the Total Outstandings shall not exceed the Commitment. Subject to the limitations set forth herein, Borrower may borrow, repay and reborrow under this Section 2.1 (a) without premium or penalty. In no event shall the Banks be obligated to make Loans to the Borrower at any time if, after giving effect to such Loans, the provisions of Section 6.17 would be violatedAdvances once repaid. (b) [Intentionally Omitted]The obligation of each Lender to make Advances in accordance with its Commitment is several, and not joint and several; and no Lender shall be obligated to advance more than its Commitment, notwithstanding the default of any other Lender. (c) Subject to the next sentence and to Sections 2.4(e) and 2.5(c), each Each Loan shall be made pursuant to Borrower's irrevocable a Request for Loan Notice to the Administrative Agent, which shall specify the requested (i) date of such LoanLoan (which must be a Banking Day), (ii) type of Loan, (iii) amount of such Loan Loan, (iv) wiring instructions for such Loan, and (ivv) in the case of a Eurodollar LIBOR Rate Loan, Interest the LIBOR Period for such Loan. Each telephonic Loan Notice by the Borrower pursuant to this Section 2.1(c) must be confirmed promptly by delivery to the Administrative Agent of a written Loan Notice, appropriately completed and signed by a Responsible Official of the Borrower. (d) Promptly following receipt of a Loan NoticeRequest for Loan, the Administrative Agent shall (by the end of business on the same day that the request was received) notify each Bank by telephone, telecopier or telex Lender of the date and type of the Loan, the applicable Interest Period in the case of a Eurodollar Rate LoanLIBOR Period, and that Bank's Pro Rata Share Lender’s Percentage of the Loan. Not later than 12:00 noon1:00 p.m., Los Angeles Cleveland time, on the date specified for any LoanLoan (which must be a Banking Day), each Bank Lender shall make its Pro Rata Share Percentage of the Loan in immediately available funds available to the Administrative Agent at the Administrative Agent's ’s Office. Upon fulfillment satisfaction or waiver of the applicable conditions set forth in Article VIII8, all Advances shall be credited wire transferred on that date in immediately available funds to the Designated Deposit Accountaccount or accounts designated in the wiring instructions included in such Request for Loan. (e) The principal amount of Unless the Requisite Lenders otherwise consent, each Alternate Base Rate Loan shall be not less than $1,000,000, each LIBOR Rate Loan shall be not less than $1,000,000 and all Loans shall be in an integral multiple of $1,000,000 and shall be in an amount not less than (i) $1,000,000 if such Loan is a Base Rate Loan and (ii) $5,000,000 if such Loan is a Eurodollar Rate Loan250,000. (f) A The Advances made by each Lender under the Loan Notice Commitment shall be irrevocable upon the Administrative Agent's first notification thereof. The obligation of each Bank to make any Advance is several, and not joint or joint and several, and is not conditioned upon the performance evidenced by any other Bank of its obligation to make Advances. The failure by any Bank to perform its obligation to make any Advance will not increase the obligation of any other Bank to make Advancesthat Lender’s Note. (g) Borrower may redesignate a Base Rate Loan as a Eurodollar Rate Loan, or a Eurodollar Rate Loan as a Base Rate Loan or a Eurodollar Rate Loan with a new Interest Period, by delivering a Loan Notice to the Administrative Agent, within the time periods and pursuant to the conditions set forth in Section 2.1(c), 2.2 or 2.3, as applicable, and elsewhere in this Agreement. If no Request for Loan Notice has been made prior to the last day of the Interest Period for an outstanding Eurodollar Rate Loan within the requisite notice periods set forth in Section 2.32.2 or 2.3 prior to the end of the LIBOR Period for any LIBOR Rate Loan, then Borrower on the last day of such LIBOR Period, such LIBOR Rate Loan shall be deemed to have requested that such Eurodollar automatically converted into an Alternate Base Rate Loan be redesignated as a Base Rate Loanin the same amount. (h) The Advances made by each Bank under this Section 2.1 shall be evidenced by that Bank's Note.

Appears in 1 contract

Sources: Secured Bridge Loan Agreement (BioMed Realty Trust Inc)

Loans-General. (a) Subject to the terms and conditions set forth in this Agreement (including Section 8.2)Agreement, at any time and from time to time from the Closing Date through the Business Day immediately preceding the Maturity Date, each Bank Lender shall, pro rata according to that BankLender's Pro Rata Share of the Commitment then in effectShare, make Advances to Borrower the Borrowers under the Commitment in such amounts as Borrower the Borrowers may request; provided that after that: (i) giving effect to such Advancethe requested Loan, (A) the Total Outstandings sum of the aggregate outstanding principal balance of the Loans plus the Letter of Credit Usage shall not exceed (B) the lesser of the Borrowing Base, less any Availability Reserves, or the Commitment; and (ii) no Loans may be requested which would result in the sum of the aggregate outstanding principal balance of the Loans plus the Letter of Credit Usage being in excess of $30,000,000 if the effect thereof would be to eliminate the possibility that a Clean Down Period would occur when required. Subject to the limitations set forth hereinherein (including, Borrower without limitation, the requirements of Section 3.6(d)), the Borrowers may borrow, repay and reborrow under this Section 2.1 (a) the Commitment without premium or penalty. In no event shall the Banks be obligated to make Loans to the Borrower at any time if, after giving effect to such Loans, the provisions of Section 6.17 would be violated. (b) [Intentionally Omitted] (c) Subject to the next sentence and to Sections 2.4(e) and 2.5(c), each Each Loan shall be made pursuant to Borrower's irrevocable a written Request for Loan Notice to the Administrative Agent, which shall specify the requested (i) the requested date of such Loan, (ii) type of whether such Loan is to be a Base Rate Loan or a Eurodollar Loan, (iii) the amount of such Loan Loan, and (iv) in the case of a Eurodollar Rate Loan, Interest Period for such Loan if such Loan is to be a Eurodollar Loan. Each telephonic Loan Notice by the Borrower pursuant to this Section 2.1(c) must be confirmed promptly by delivery to the Administrative Agent of a written Loan Notice, appropriately completed and signed by a Responsible Official of the Borrower. (dc) Promptly following receipt of a Loan NoticeRequest for Loan, the Administrative Agent shall notify each Bank Lender thereof by telephone, telephone or telecopier or telex of the date and type of the Loan, the applicable Interest Period in the case of a Eurodollar Rate LoanPeriod, and that BankLender's Pro Rata Share of the Loan. Not later than 12:00 noon11:00 a.m., Los Angeles time, on the date specified for any each Loan, each Bank Lender shall make its Pro Rata Share of the that Loan in immediately available funds available to the Administrative Agent at the Administrative Agent's OfficeOffice in immediately available funds. Upon fulfillment fulfilment of the applicable conditions set forth in Article VIII8, all Advances the Loan shall be credited in immediately available funds to the Designated Deposit Funding Account. (d) Unless the Requisite Lenders otherwise consent, (i) each Base Rate Loan shall be in an integral multiple of $100,000 which is not less than $500,000 and (ii) each Eurodollar Loan shall be in an integral multiple of $100,000 which is not less than $1,000,000. (e) The If no Request for Loan has been delivered within the requisite notice periods set forth in Sections 2.2 or 2.3 in connection with a Loan which, if made, would not increase the outstanding principal amount of each Loan the Obligations and would not result in the sum of the outstanding Loans plus the Letter of Credit Usage being in excess of the Borrowing Base, then the Borrowers shall be an integral multiple deemed to have requested, as of $1,000,000 and shall be in an amount not less than (i) $1,000,000 if such the date upon which the related then outstanding Loan is due pursuant to Section 3.1(d)(i) and not paid, a Base Rate Loan in an amount equal to the amount necessary to cause the outstanding principal amount of the Obligations to remain the same and (ii) $5,000,000 if the Lenders shall make the Advances necessary to make such Loan is notwithstanding the Borrowers' failure to deliver a Eurodollar Rate LoanRequest for Loan or other notice required by Sections 2.1(c), 2.2 and 2.3. (f) Unless the Administrative Agent otherwise consents, no more than four Eurodollar Loans shall be outstanding at any one time. (g) A Request for Loan Notice shall be irrevocable upon the Administrative Agent's first notification receipt thereof. The obligation of each Bank to make any Advance is several, and not joint or joint and several, and is not conditioned upon the performance by any other Bank of its obligation to make Advances. The failure by any Bank to perform its obligation to make any Advance will not increase the obligation of any other Bank to make Advances. (g) Borrower may redesignate a Base Rate Loan as a Eurodollar Rate Loan, or a Eurodollar Rate Loan as a Base Rate Loan or a Eurodollar Rate Loan with a new Interest Period, by delivering a Loan Notice to the Administrative Agent, within the time periods and pursuant to the conditions set forth in Section 2.1(c), 2.2 or 2.3, as applicable, and elsewhere in this Agreement. If no Loan Notice has been made prior to the last day of the Interest Period for an outstanding Eurodollar Rate Loan within the requisite notice periods set forth in Section 2.3, then Borrower shall be deemed to have requested that such Eurodollar Rate Loan be redesignated as a Base Rate Loan. (h) The Advances made by each Bank under this Section 2.1 shall be evidenced by that Bank's Note.

Appears in 1 contract

Sources: Loan Agreement (Jakks Pacific Inc)

Loans-General. (a) Subject to the terms and conditions set forth in this Agreement (including Section 8.2)Agreement, at any time and from time to time from the Closing Date through the Business Day immediately preceding the Maturity Date, each Bank Lender shall, pro rata according to that BankLender's Pro Rata Share of the Commitment then in effectapplicable Commitment, make Advances to Borrower Borrowers under the Commitment in such amounts as Borrower Borrowers may request; provided request that after giving effect to such Advance, do not result in the Total Aggregate Outstandings shall not exceed being in excess of the Commitment. Subject to the limitations set forth herein, Borrower Borrowers may borrow, repay and reborrow under this Section 2.1 (a) the Commitment without premium or penalty. In no event shall the Banks be obligated to make Loans to the Borrower at any time if, after giving effect to such Loans, the provisions of Section 6.17 would be violated. (b) [Intentionally Omitted] (c) Subject to the next sentence and to Sections 2.4(e) and 2.5(c)sentence, each Loan shall be made pursuant to Borrower's irrevocable a Request for Loan Notice to the Administrative Agent, which shall specify the requested (i) date of such Loan, (ii) type of Loan, (iii) amount of such Loan Loan, and (iv) in the case of a Eurodollar Rate Loan, the Interest Period for such Loan. Each telephonic Loan Notice by the Borrower pursuant to this Section 2.1(c) must be confirmed promptly by delivery to Unless the Administrative Agent of has notified, in its sole and absolute discretion, Borrowers to the contrary, a written Loan Notice, appropriately completed and signed may be requested by telephone by a Responsible Official of Borrowers, in which case Borrowers shall confirm such request by promptly delivering a Request for Loan in person or by telecopier conforming to the Borrowerpreceding sentence to the Administrative Agent. The Administrative Agent shall incur no liability whatsoever hereunder in acting upon any telephonic request for Loan purportedly made by a Responsible Official of Borrowers, and Borrowers hereby agree to indemnify the Administrative Agent from any loss, cost, expense or liability as a result of so acting. (dc) Promptly following receipt of a Loan NoticeRequest for Loan, the Administrative Agent shall notify each Bank Lender by telephone or telecopier (and if by telephone, telecopier or telex promptly confirmed by telecopier) of the date and type of the Loan, the applicable Interest Period in the case of a Eurodollar Rate LoanPeriod, and that BankLender's Pro Rata Share of the Loan. Not later than 12:00 noon10:00 a.m., Los Angeles California time, on the date specified for any LoanLoan (which must be a Business Day), each Bank Lender shall make its Pro Rata Share of the Loan in immediately available funds available to the Administrative Agent at the Administrative Agent's Office. Upon fulfillment satisfaction or waiver of the applicable conditions set forth in Article VIII9, all Advances shall be credited on that date in immediately available funds to the Designated Deposit Account. (ed) The principal amount of Unless the Requisite Lenders otherwise consent, each Base Loan shall be not less than $5,000,000 and each Eurodollar Loan shall be not less than $10,000,000 and in an integral multiple of $1,000,000 and 1,000,000. (e) The Advances made by each Lender under the Commitment shall be in an amount not less than (i) $1,000,000 if such Loan is a Base Rate Loan and (ii) $5,000,000 if such Loan is a Eurodollar Rate Loanevidenced by that Lender's Note. (f) A Subject to Sections 3.7(c) and (d), a Request for Loan Notice shall be irrevocable upon the Administrative Agent's first notification thereof. The obligation of each Bank to make any Advance is several, and not joint or joint and several, and is not conditioned upon the performance by any other Bank of its obligation to make Advances. The failure by any Bank to perform its obligation to make any Advance will not increase the obligation of any other Bank to make Advances. (g) Borrower may redesignate a Base Rate If no Request for Loan as a Eurodollar Rate Loan, (or a Eurodollar Rate telephonic request for Loan as a Base Rate Loan or a Eurodollar Rate Loan with a new Interest Period, by delivering a Loan Notice referred to in the Administrative Agent, within the time periods and pursuant to the conditions set forth in second sentence of Section 2.1(c2.1(b), 2.2 or 2.3, as if applicable, and elsewhere in this Agreement. If no Loan Notice ) has been made prior to the last day of the Interest Period for an outstanding Eurodollar Rate Loan within the requisite notice periods set forth in Section 2.32.2 or 2.3 prior to the end of the Interest Period for any Eurodollar Loan, then Borrower on the last day of such Interest Period, such Eurodollar Loan shall be deemed to have requested that such Eurodollar Rate automatically converted into an Base Loan be redesignated as a Base Rate Loanin the same amount. (h) The Advances If a Loan is to be made by each Bank under on the same date that another Loan is due and payable, Borrowers or the Lenders, as the case may be, shall make available to the Administrative Agent the net amount of funds giving effect to both such Loans and the effect for purposes of this Section 2.1 Agreement shall be evidenced by that Bank's Notethe same as if separate transfers of funds had been made with respect to each such Loan.

Appears in 1 contract

Sources: Loan Agreement (Station Casinos Inc)

Loans-General. (a) Subject to the terms and conditions set forth in this Agreement (including Section 8.2)Agreement, at any time from and from time to time from after the Closing Restatement Date through the Business Day immediately preceding the Maturity Date, each Bank shall, pro rata according to that Bank's its Pro Rata Share of the Commitment then in effectShare, make Advances to Borrower under the Commitment in such amounts as Borrower may requestrequest that do not exceed in the aggregate at any one time outstanding the amount of that Bank's Pro Rata Share; provided that after that, giving effect to the Loan of which such AdvanceAdvance is a part, the Total Outstandings sum of (i) the aggregate principal amount outstanding under the Notes plus (ii) the aggregate amount available for drawing under the outstanding Letters of Credit plus (iii) the aggregate amount of all unreimbursed draws with respect to all Letters of Credit, shall not exceed the then applicable Commitment. Subject to the limitations set forth herein, Borrower may borrow, repay and reborrow under this Section 2.1 (a2.1(a) without premium or penalty. In no event shall the Banks be obligated to make Loans to the Borrower at any time if, after giving effect to such Loans, the provisions of Section 6.17 would be violated. (b) [Intentionally Omitted] (c) Subject to the next sentence and to Sections 2.4(e) and 2.5(c)sentence, each Loan shall be made pursuant to Borrower's irrevocable a Request for Loan Notice to the Administrative Agent, which shall specify the requested (i) date of such Loan, (ii) type which shall be a Banking Day in the case of Loan, (iii) amount of such a Base Rate Loan and (iv) a Eurodollar Banking Day in the case of a Eurodollar Rate Loan, Interest (ii) amount of such Loan, (iii) type of such Loan, and (iv) in the case of Eurodollar Rate Loans, the Eurodollar Period for such Loan. Each telephonic Loan Notice by the Borrower pursuant to this Section 2.1(c) must be confirmed promptly by delivery to Unless the Administrative Agent of has notified, in its sole and absolute discretion, Borrower to the contrary, a written Loan Noticeloan may be requested by telephone, appropriately completed and signed telecopier or telex by a Responsible Official of Borrower. Borrower shall immediately confirm each requested Loan by submitting a Request for Loan conforming with the Borrowerrequirements of the preceding sentence to the Administrative Agent by telecopier, with the original thereof to follow by mail. In the case of the initial Loans to be made on the Restatement Date, the Request for Loan to be delivered by the Borrower shall be delivered to the Administrative Agent no later than 12:00 noon (California time), one day before the Restatement Date, and such Loans shall be Base Rate Loans only and, notwithstanding Section 2.1(d) may be in any amount which does not exceed the Commitment. The Administrative Agent will net settle Advances to be made by Banks which are banks under the Existing Loan Agreement to fund such initial Loans against payments to be made to those Banks in order to refinance the Loans outstanding under the Existing Loan Agreement. (dc) Promptly following receipt of a Loan NoticeRequest for Loan, the Administrative Agent shall notify each Bank by telephone, telecopier or telex of the date and type of the Loan, the applicable Interest Period in the case of a Eurodollar Rate Loan, Loan and that Bank's Pro Rata Share of the Loan. Not later than 12:00 noon, Los Angeles California time, in the case where a Base Rate Loan is requested, and 10:00 a.m. California time, in the case where a Eurodollar Rate Loan is requested, on the date specified for any Loan, each Bank shall make its Pro Rata Share of the Loan in immediately available funds available to the Administrative Agent at the Administrative Agent's Office. Upon fulfillment of the applicable conditions set forth in Article VIII8, all Advances shall be credited in immediately available funds to the Designated Deposit Account. (ed) The principal amount of Unless the Majority Banks otherwise consent, each Loan under the Commitment shall be in an integral multiple of $1,000,000 and shall be in an amount not less 250,000 which is equal to or greater than (i) $1,000,000 if such Loan is a Base Rate Loan and (ii) $5,000,000 if such Loan is a Eurodollar Rate Loan1,000,000. (f) A Loan Notice shall be irrevocable upon the Administrative Agent's first notification thereof. The obligation of each Bank to make any Advance is several, and not joint or joint and several, and is not conditioned upon the performance by any other Bank of its obligation to make Advances. The failure by any Bank to perform its obligation to make any Advance will not increase the obligation of any other Bank to make Advances. (g) Borrower may redesignate a Base Rate Loan as a Eurodollar Rate Loan, or a Eurodollar Rate Loan as a Base Rate Loan or a Eurodollar Rate Loan with a new Interest Period, by delivering a Loan Notice to the Administrative Agent, within the time periods and pursuant to the conditions set forth in Section 2.1(c), 2.2 or 2.3, as applicable, and elsewhere in this Agreement. If no Loan Notice has been made prior to the last day of the Interest Period for an outstanding Eurodollar Rate Loan within the requisite notice periods set forth in Section 2.3, then Borrower shall be deemed to have requested that such Eurodollar Rate Loan be redesignated as a Base Rate Loan. (he) The Advances made by each Bank under this Section 2.1 the Commitment shall be evidenced by that Bank's Note. (f) Unless the Administrative Agent otherwise consents, no Request for Loan may be revoked by Borrower after its submission to the Administrative Agent. In the event that the Administrative Agent consents to the revocation of any Request for Loan submitted by the Borrower, Borrower agrees that it shall reimburse the Administrative Agent and each Bank for any loss, cost, damage or expense associated with any redeployment of funds caused by such revocation. (g) If, as of the end of the Eurodollar Period with respect to any Eurodollar Rate Loan, Borrower has not submitted a Request for Loan or orally requested a Base Rate Loan in accordance with Section 2.1(b), or if any Request for Loan submitted by Borrower for a Eurodollar Rate Loan fails to satisfy the notice periods specified in Section 2.3, then, in the absence of notice from Borrower to the contrary, Borrower shall be deemed to have requested a Base Rate Loan in an amount equal to the maturing Eurodollar Rate Loan, and the Banks shall make the Advances necessary to make such Loan notwithstanding Sections 2.1(b) and 2.2.

Appears in 1 contract

Sources: Loan Agreement (Eldorado Resorts LLC)

Loans-General. (a) Subject to the terms and conditions set forth in this Agreement (including Section 8.2)Agreement, at any time and from time to time from the Closing Date through the Business Day immediately preceding and including the Maturity Date, each Bank Lender shall, pro rata according to that BankLender's Pro Rata Share of the Commitment then in effectapplicable Commitment, make Advances in Dollars to Borrower under the Commitment in such amounts as Borrower may request; request provided that after that, giving effect to such AdvanceAdvances, the Total Outstandings Outstanding Obligations shall not exceed the Commitment. Subject to the limitations set forth herein, Borrower may borrow, repay and reborrow under this Section 2.1 (a) the Commitment without premium or penalty. In no event shall the Banks be obligated to make Loans to the Borrower at any time if, after giving effect to such Loans, the provisions of Section 6.17 would be violated. (b) [Intentionally Omitted] (c) Subject to the next sentence and to Sections 2.4(e) and 2.5(c)sentence, each Loan shall be made pursuant to Borrower's irrevocable a Request for Loan Notice to the Administrative Agent, which shall specify the requested (i) date of such Loan, (ii) type of Loan, (iii) amount of such Loan Loan, and (iv) in the case of a Eurodollar Rate Loan, Interest the Eurodollar Period for such Loan. Each telephonic Loan Notice by the Borrower pursuant to this Section 2.1(c) must be confirmed promptly by delivery to Unless the Administrative Agent of has notified, in its sole and absolute discretion, Borrower to the contrary, a written Loan Notice, appropriately completed and signed may be requested by telephone by a Responsible Official of Borrower, in which case Borrower shall confirm such request by promptly delivering a Request for Loan in person or by telecopier conforming to the preceding sentence to the Administrative Agent. The Administrative Agent shall incur no liability whatsoever hereunder in acting upon any telephonic request for loan purportedly made by a Responsible Official of Borrower, which hereby agrees to indemnify the Administrative Agent from any loss, cost, expense or liability as a result of so acting. (dc) Promptly following receipt of a Loan NoticeRequest for Loan, the Administrative Agent shall notify each Bank Lender by telephone or telecopier (and if by telephone, telecopier or telex promptly confirmed by telecopier) of the date and type of the Loan, the applicable Interest Period in the case of a Eurodollar Rate LoanPeriod, and that BankLender's Pro Rata Share of the Loan. Not later than 12:00 noon11:00 a.m., Los Angeles California local time, on the date specified for any LoanLoan (which must be a Business Day), each Bank Lender shall make its Pro Rata Share of the Loan in immediately available funds available to the Administrative Agent at the Administrative Agent's Office. Upon fulfillment satisfaction or waiver of the applicable conditions set forth in Article VIII8, all Advances shall be credited on that date in immediately available funds to the Designated Deposit Account. (ed) The principal amount of Unless the Requisite Lenders otherwise consent, each Loan shall be an integral multiple of $1,000,000 and shall be in an amount not less than $10,000,000. (ie) $1,000,000 if such Loan is a Base Rate Loan and (ii) $5,000,000 if such Loan is a Eurodollar Rate LoanThe Advances made by each Lender shall be evidenced by that Lender's Note. (f) A Request for Loan Notice shall be irrevocable upon the Administrative Agent's first notification thereof. The obligation of each Bank to make any Advance is several, and not joint or joint and several, and is not conditioned upon the performance by any other Bank of its obligation to make Advances. The failure by any Bank to perform its obligation to make any Advance will not increase the obligation of any other Bank to make Advances. (g) Borrower may redesignate a Base Rate If no Request for Loan as a Eurodollar Rate Loan, (or a Eurodollar Rate Loan as a Base Rate Loan or a Eurodollar Rate Loan with a new Interest Period, by delivering a Loan Notice telephonic request for loan referred to in the Administrative Agent, within the time periods and pursuant to the conditions set forth in second sentence of Section 2.1(c2.1(b), 2.2 or 2.3, as if applicable, and elsewhere in this Agreement. If no Loan Notice ) has been made prior to the last day of the Interest Period for an outstanding Eurodollar Rate Loan within the requisite notice periods set forth in Section 2.3Sections 2.2 or 2.3 in connection with a Loan which, if made and giving effect to the application of the proceeds thereof, would not increase the outstanding principal Indebtedness evidenced by the Notes, then Borrower shall be deemed to have requested that such Eurodollar Rate requested, as of the date upon which the related then outstanding Loan be redesignated as is due pursuant to Section 3.1(e)(i), a Base Rate LoanLoan in an amount equal to the amount necessary to cause the outstanding principal Indebtedness evidenced by the Notes, to remain the same and the Lenders shall make the Advances necessary to make such Loan notwithstanding Sections 2.1(b), and 2.2. (h) The Advances If a Loan is to be made by each Bank under on the same date that another Loan is due and payable, Borrower or the Lenders, as the case may be, shall make available to the Administrative Agent the net amount of funds giving effect to both such Loans and the effect for purposes of this Section 2.1 Agreement shall be evidenced by that Bank's Notethe same as if separate transfers of funds had been made with respect to each such Loan.

Appears in 1 contract

Sources: Revolving Loan Agreement (Mandalay Resort Group)

Loans-General. (a) Subject to the terms and conditions set forth in this Agreement (including Section 8.2), at any time and from time to time from the Closing Date through the Business Day immediately preceding the Maturity Date, each Bank shall, pro rata according to that Bank's ’s Pro Rata Share of the Commitment then in effect, make Advances to Borrower under the Commitment in such amounts as Borrower may request; provided that after giving effect to such Advance, the Total Outstandings shall not exceed the CommitmentAvailable Amount. Subject to the limitations set forth herein, Borrower may borrow, repay and reborrow under this Section 2.1 (a2.1(a) without premium or penalty. In no event shall the Banks be obligated to make Loans to the Borrower at any time if, after giving effect to such Loans, the provisions of Section 6.17 would be violated. (b) [Intentionally Omitted]. (c) Subject to the next sentence and to Sections 2.4(e) and Section 2.5(c), each Loan shall be made pursuant to Borrower's ’s irrevocable Loan Notice to the Administrative Agent, which shall specify the requested (i) date of such Loan, (ii) type Type of Loan, (iii) amount of such Loan and (iv) in the case of a Eurodollar Rate Loan, Interest Period for such Loan. Each Any Loan Notice delivered under this Agreement may be delivered by mail, email, telecopier, telephone, or as otherwise acceptable to the Administrative Agent; provided, that each telephonic Loan Notice given by the Borrower pursuant to this Section 2.1(c) must be confirmed promptly by delivery to the Administrative Agent of a written Loan Notice, appropriately completed and signed by a Responsible Official of the Borrower. (d) Promptly following receipt of a Loan Notice, the Administrative Agent shall notify each Bank by telephone, telecopier or telex of the date and type Type of the Loan, the applicable Interest Period in the case of a Eurodollar Rate Loan, and that Bank's ’s Pro Rata Share of the Loan. Not later than 12:00 noon, Los Angeles 1:00 p.m. New York time, on the date specified for any Loan, each Bank shall make its Pro Rata Share of the Loan in immediately available funds available to the Administrative Agent at the Administrative Agent's ’s Office. Upon fulfillment of the applicable conditions set forth in Article VIII, all Advances shall be credited in immediately available funds to the Designated Deposit Account. (e) The principal amount of each Loan shall be an integral multiple of $1,000,000 and shall be in an amount not less than (i) $1,000,000 if such Loan is a Base Rate Loan and (ii) $5,000,000 if such Loan is a Eurodollar Rate Loan. (f) A Loan Notice shall be irrevocable upon the Administrative Agent's ’s first notification thereof. The obligation of each Bank to make any Advance is several, and not joint or joint and several, and is not conditioned upon the performance by any other Bank of its obligation to make Advances. The failure by any Bank to perform its obligation to make any Advance will not increase the obligation of any other Bank to make Advances. (g) Borrower may redesignate a Base Rate Loan as a Eurodollar Rate Loan, or a Eurodollar Rate Loan as a Base Rate Loan or a Eurodollar Rate Loan with a new Interest Period, by delivering a Loan Notice to the Administrative Agent, within the time periods and pursuant to the conditions set forth in Section 2.1(c), 2.2 or 2.3, as applicable, and elsewhere in this Agreement. If no Loan Notice has been made prior to the last day of the Interest Period for an outstanding Eurodollar Rate Loan within the requisite notice periods set forth in Section 2.3, then Borrower shall be deemed to have requested that such Eurodollar Rate Loan be redesignated as a Base Rate Loan. (h) The Advances made by each Bank under this Section 2.1 shall be evidenced by that Bank's Note’s Note to the extent requested by such Bank.

Appears in 1 contract

Sources: Revolving Loan Agreement (Kb Home)

Loans-General. (a) Subject to the terms and conditions set forth in this Agreement (including Section 8.2)Agreement, at any time and from time to time from the Closing Date through the Business Day immediately preceding the Maturity Date, each Bank Lender shall, pro rata according to that Bank's Lender’s Pro Rata Share of the Commitment then in effectapplicable Commitment, make Advances to Borrower Borrowers under the Commitment in such amounts as Borrower Borrowers may request; provided request that after giving effect to such Advance, do not result in the Total Aggregate Outstandings shall not exceed being in excess of the Commitment. Subject to the limitations set forth herein, Borrower Borrowers may borrow, repay and reborrow under this Section 2.1 (a) the Commitment without premium or penalty. In no event shall the Banks be obligated to make Loans to the Borrower at any time if, after giving effect to such Loans, the provisions of Section 6.17 would be violated. (b) [Intentionally Omitted] (c) Subject to the next sentence and to Sections 2.4(e) and 2.5(c)sentence, each Loan shall be made pursuant to Borrower's irrevocable a Request for Loan Notice to the Administrative Agent, which shall specify the requested (i) date of such Loan, (ii) type of Loan, (iii) amount of such Loan Loan, and (iv) in the case of a Eurodollar Rate Loan, the Interest Period for such Loan. Each telephonic Loan Notice by the Borrower pursuant to this Section 2.1(c) must be confirmed promptly by delivery to Unless the Administrative Agent of has notified, in its sole and absolute discretion, Borrowers to the contrary, a written Loan Notice, appropriately completed and signed may be requested by telephone by a Responsible Official of Borrowers, in which case Borrowers shall confirm such request by promptly delivering a Request for Loan in person or by telecopier conforming to the Borrowerpreceding sentence to the Administrative Agent. The Administrative Agent shall incur no liability whatsoever hereunder in acting upon any telephonic request for Loan purportedly made by a Responsible Official of Borrowers, and Borrowers hereby agree to indemnify the Administrative Agent from any loss, cost, expense or liability as a result of so acting. (dc) Promptly following receipt of a Loan NoticeRequest for Loan, the Administrative Agent shall notify each Bank Lender by telephone or telecopier (and if by telephone, telecopier or telex promptly confirmed by telecopier) of the date and type of the Loan, the applicable Interest Period in the case of a Eurodollar Rate LoanPeriod, and that Bank's Lender’s Pro Rata Share of the Loan. Not later than 12:00 noon10:00 a.m., Los Angeles Nevada time, on the date specified for any LoanLoan (which must be a Business Day), each Bank Lender shall make its Pro Rata Share of the Loan in immediately available funds available to the Administrative Agent at the Administrative Agent's ’s Office. Upon fulfillment satisfaction or waiver of the applicable conditions set forth in Article VIII9, all Advances shall be credited on that date in immediately available funds to the Designated Deposit Account. (ed) The principal amount of Unless the Requisite Lenders otherwise consent, each Loan shall be in an integral multiple of $1,000,000 and 1,000,000. (e) The Advances made by each Lender under the Commitment shall be in an amount not less than (i) $1,000,000 if such Loan is a Base Rate Loan and (ii) $5,000,000 if such Loan is a Eurodollar Rate Loanevidenced by that Lender’s Note. (f) A Subject to Sections 3.7(c) and (d), a Request for Loan Notice shall be irrevocable upon the Administrative Agent's ’s first notification thereof. The obligation of each Bank to make any Advance is several, and not joint or joint and several, and is not conditioned upon the performance by any other Bank of its obligation to make Advances. The failure by any Bank to perform its obligation to make any Advance will not increase the obligation of any other Bank to make Advances. (g) Borrower may redesignate a Base Rate If no Request for Loan as a Eurodollar Rate Loan, (or a Eurodollar Rate telephonic request for Loan as a Base Rate Loan or a Eurodollar Rate Loan with a new Interest Period, by delivering a Loan Notice referred to in the Administrative Agent, within the time periods and pursuant to the conditions set forth in second sentence of Section 2.1(c2.1(b), 2.2 or 2.3, as if applicable, and elsewhere in this Agreement. If no Loan Notice ) has been made prior to the last day of the Interest Period for an outstanding Eurodollar Rate Loan within the requisite notice periods set forth in Section 2.32.2 or 2.3 prior to the end of the Interest Period for any Eurodollar Loan, then Borrower on the last day of such Interest Period, such Eurodollar Loan shall be deemed to have requested that such Eurodollar Rate automatically converted into an Base Loan be redesignated as a Base Rate Loanin the same amount. (h) The Advances If a Loan is to be made by each Bank under on the same date that another Loan is due and payable, Borrowers or the Lenders, as the case may be, shall make available to the Administrative Agent the net amount of funds giving effect to both such Loans and the effect for purposes of this Section 2.1 Agreement shall be evidenced by that Bank's Notethe same as if separate transfers of funds had been made with respect to each such Loan.

Appears in 1 contract

Sources: Loan Agreement (Station Casinos Inc)

Loans-General. (a) Subject to the terms and conditions set forth in this Agreement (including Section 8.2)Agreement, at any time and from time to time from the Closing Date through the Business Day immediately preceding the Maturity Date, each Bank Lender shall, pro rata according to that BankLender's Pro Rata Share of the Commitment then in effectapplicable Commitment, make Advances to Borrower Borrowers under the Commitment in such amounts as Borrower Borrowers may request; provided request that after giving effect to such Advance, do not result in the Total Aggregate Outstandings shall not exceed being in excess of the Commitment. Subject to the limitations set forth herein, Borrower Borrowers may borrow, repay and reborrow under this Section 2.1 (a) the Commitment without premium or penalty. In no event shall the Banks be obligated to make Loans to the Borrower at any time if, after giving effect to such Loans, the provisions of Section 6.17 would be violated. (b) [Intentionally Omitted] (c) Subject to the next sentence and to Sections 2.4(e) and 2.5(c)sentence, each Loan shall be made pursuant to Borrower's irrevocable a Request for Loan Notice to the Administrative Agent, which shall specify the requested (i) date of such Loan, (ii) type of Loan, (iii) amount of such Loan Loan, and (iv) in the case of a Eurodollar Rate Loan, the Interest Period for such Loan. Each telephonic Loan Notice by the Borrower pursuant to this Section 2.1(c) must be confirmed promptly by delivery to Unless the Administrative Agent of has notified, in its sole and absolute discretion, Borrowers to the contrary, a written Loan Notice, appropriately completed and signed may be requested by telephone by a Responsible Official of Borrowers, in which case Borrowers shall confirm such request by promptly delivering a Request for Loan in person or by telecopier conforming to the Borrowerpreceding sentence to the Administrative Agent. The Administrative Agent shall incur no liability whatsoever hereunder in acting upon any telephonic request for Loan purportedly made by a Responsible Official of Borrowers, and Borrowers hereby agree to indemnify the Administrative Agent from any loss, cost, expense or liability as a result of so acting. (dc) Promptly following receipt of a Loan NoticeRequest for Loan, the Administrative Agent shall notify each Bank Lender by telephone or telecopier (and if by telephone, telecopier or telex promptly confirmed by telecopier) of the date and type of the Loan, the applicable Interest Period in the case of a Eurodollar Rate LoanPeriod, and that BankLender's Pro Rata Share of the Loan. Not later than 12:00 noon10:00 a.m., Los Angeles Nevada time, on the date specified for any LoanLoan (which must be a Business Day), each Bank Lender shall make its Pro Rata Share of the Loan in immediately available funds available to the Administrative Agent at the Administrative Agent's Office. Upon fulfillment satisfaction or waiver of the applicable conditions set forth in Article VIII9, all Advances shall be credited on that date in immediately available funds to the Designated Deposit Account. (ed) The principal amount of Unless the Requisite Lenders otherwise consent, each Base Loan shall be not less than $5,000,000 and each Eurodollar Loan shall be not less than $10,000,000 and in an integral multiple of $1,000,000 and 1,000,000. (e) The Advances made by each Lender under the Commitment shall be in an amount not less than (i) $1,000,000 if such Loan is a Base Rate Loan and (ii) $5,000,000 if such Loan is a Eurodollar Rate Loanevidenced by that Lender's Note. (f) A Subject to Sections 3.7(c) and (d), a Request for Loan Notice shall be irrevocable upon the Administrative Agent's first notification thereof. The obligation of each Bank to make any Advance is several, and not joint or joint and several, and is not conditioned upon the performance by any other Bank of its obligation to make Advances. The failure by any Bank to perform its obligation to make any Advance will not increase the obligation of any other Bank to make Advances. (g) Borrower may redesignate a Base Rate If no Request for Loan as a Eurodollar Rate Loan, (or a Eurodollar Rate telephonic request for Loan as a Base Rate Loan or a Eurodollar Rate Loan with a new Interest Period, by delivering a Loan Notice referred to in the Administrative Agent, within the time periods and pursuant to the conditions set forth in second sentence of Section 2.1(c2.1(b), 2.2 or 2.3, as if applicable, and elsewhere in this Agreement. If no Loan Notice ) has been made prior to the last day of the Interest Period for an outstanding Eurodollar Rate Loan within the requisite notice periods set forth in Section 2.32.2 or 2.3 prior to the end of the Interest Period for any Eurodollar Loan, then Borrower on the last day of such Interest Period, such Eurodollar Loan shall be deemed to have requested that such Eurodollar Rate automatically converted into an Base Loan be redesignated as a Base Rate Loanin the same amount. (h) The Advances If a Loan is to be made by each Bank under on the same date that another Loan is due and payable, Borrowers or the Lenders, as the case may be, shall make available to the Administrative Agent the net amount of funds giving effect to both such Loans and the effect for purposes of this Section 2.1 Agreement shall be evidenced by that Bank's Notethe same as if separate transfers of funds had been made with respect to each such Loan.

Appears in 1 contract

Sources: Loan Agreement (Station Casinos Inc)

Loans-General. (a) Subject to the terms and conditions set forth in this Agreement (including Section 8.2), at any time and from time to time from the 2000 Closing Date through the Business Banking Day immediately preceding the Maturity Date, each Bank shall, pro rata according to that Bank's Pro Rata Share of the Commitment then in effect, make Advances to Borrower under the Commitment in such amounts as Borrower may request; provided that after giving effect to such Advance, the Total aggregate outstanding principal evidenced by the Notes plus the Letter of Credit Usage plus the Money Market Outstandings plus Swing Line Outstandings shall not exceed the Commitment. Subject to the limitations set forth herein, Borrower may borrow, repay and reborrow under this Section 2.1 (a2.1(a) without premium or penalty. In no event shall the Banks be obligated to make Loans to the Borrower at any time if, after giving effect to such Loans, the provisions of Section 6.17 would be violated. (b) [Intentionally Omitted.] (c) Subject to the next sentence and to Sections 2.4(e) and 2.5(c2.5(d), each Loan shall be made pursuant to Borrower's irrevocable a Request for Loan Notice which shall be in a form and shall contain information specified from time to time by the Administrative Agent, Agent and which shall in all events specify the requested (i) date of such Loan, (ii) type of Loan, (iii) amount of such Loan and (iv) in the case of a Eurodollar Rate LIBOR Loan, Interest Period for such Loan. Each telephonic Loan Notice by Unless the Administrative Agent, in its sole and absolute discretion, has notified Borrower pursuant to this Section 2.1(c) must be confirmed promptly by delivery to the Administrative Agent of a written contrary, each Loan Notice, appropriately completed and signed may be requested by telephone (promptly confirmed in writing) or telecopier by a Responsible Official of Borrower, and Borrower shall confirm such request by promptly mailing a Request for Loan conforming to the Borrowerpreceding sentence to the Administrative Agent. (d) Promptly following receipt of a Loan NoticeRequest for Loan, the Administrative Agent shall notify each Bank by telephone, telecopier or telex of the date and type of the Loan, the applicable Interest Period in the case of a Eurodollar Rate LIBOR Loan, and that Bank's Pro Rata Share of the Loan. Not later than 12:00 noon11:00 a.m., Los Angeles California time, on the date specified for any Loan, each Bank shall make its Pro Rata Share of the Loan in immediately available funds available to the Administrative Agent at the Administrative Agent's Office. Upon fulfillment of the applicable conditions set forth in Article VIII8, all Advances shall be credited in immediately available funds to the Designated Deposit Account. (e) The principal amount of each Loan shall be an integral multiple of $1,000,000 and shall be in an amount not less than (i) $1,000,000 if such Loan is a Base Prime Rate Loan and (ii) $5,000,000 if such Loan is a Eurodollar Rate LIBOR Loan. (f) A Request for Loan Notice shall be irrevocable upon the Administrative Agent's first notification thereof. The obligation of each Bank to make any Advance is several, and not joint or joint and several, and is not conditioned upon the performance by any other Bank of its obligation to make Advances. The failure by any Bank to perform its obligation to make any Advance will not increase the obligation of any other Bank to make Advances. (g) Borrower may redesignate a Base Prime Rate Loan as a Eurodollar Rate LIBOR Loan, or a Eurodollar Rate LIBOR Loan as a Base Prime Rate Loan or a Eurodollar Rate LIBOR Loan with a new Interest Period, by delivering a Loan Notice Request for Redesignation to the Administrative Agent, within the time periods and pursuant to the conditions set forth in Section 2.1(c), 2.2 or 2.3, as applicable, and elsewhere in this Agreement. If no Loan Notice Request for Redesignation (or telephonic or other request referred to in the second sentence of Section 2.1(c) , if applicable) has been made prior to the last day of the Interest Period for an outstanding Eurodollar Rate LIBOR Loan within the requisite notice periods set forth in Section 2.3, then Borrower shall be deemed to have requested that such Eurodollar Rate LIBOR Loan be redesignated as a Base Prime Rate Loan. (h) The Advances made by each Bank under this Section 2.1 shall be evidenced by that Bank's Note.

Appears in 1 contract

Sources: Revolving Loan Agreement (Kb Home)

Loans-General. (a) Subject to the terms and conditions set forth in this Agreement (including Section 8.2), at any time and from time to time from the Closing Date through the Business Day immediately preceding the Maturity Date, each Bank shall, pro rata according to that Bank's ’s Pro Rata Share of the Commitment then in effect, make Advances to the Borrower under the Commitment in such amounts as the Borrower may request; provided that that, after giving effect to such Advance, the Total Outstandings shall not exceed the Commitmentaggregate Commitments and Borrowing Base Indebtedness shall not exceed the Borrowing Base. Subject to the limitations set forth herein, the Borrower may borrow, repay and reborrow under this Section 2.1 (a2.1(a) without premium or penalty. In no event shall the Banks be obligated to make Loans to the Borrower at any time if, after giving effect to such Loans, the provisions of Section 6.17 would be violated. (b) [Intentionally Omitted]. (c) Subject to the next sentence and to Sections 2.4(e) and Section 2.5(c), each Loan shall be made pursuant to the Borrower's ’s irrevocable Loan Notice to the Administrative Agent, which shall specify the requested (i) date of such Loan, (ii) type Type of Loan, (iii) amount of such Loan and (iv) in the case of a Eurodollar Rate Loan, Interest Period for such Loan. Each Any Loan Notice delivered under this Agreement may be delivered by mail, email, telecopier, telephone, or as otherwise acceptable to the Administrative Agent; provided that, each telephonic Loan Notice given by the Borrower pursuant to this Section 2.1(c) must be confirmed promptly by delivery to the Administrative Agent of a written Loan Notice, appropriately completed and signed by a Responsible Official of the Borrower. (d) Promptly following receipt of a Loan Notice, the Administrative Agent shall notify each Bank by telephone, telecopier or telex of the date and type Type of the Loan, the applicable Interest Period in the case of a Eurodollar Rate Loan, and that Bank's ’s Pro Rata Share of the Loan. Not later than 12:00 noon, Los Angeles 1:00 p.m. New York time, on the date specified for any Loan, each Bank shall make its Pro Rata Share of the Loan in immediately available funds available to the Administrative Agent at the Administrative Agent's ’s Office. Upon fulfillment of the applicable conditions set forth in Article VIII, all Advances shall be credited in immediately available funds to the Designated Deposit Account. (e) The principal amount of each Loan shall be an integral multiple of $1,000,000 and shall be in an amount not less than (i) $1,000,000 if such Loan is a Base Rate Loan and (ii) $5,000,000 if such Loan is a Eurodollar Rate Loan. (f) A Loan Notice shall be irrevocable upon the Administrative Agent's ’s first notification thereof. The obligation of each Bank to make any Advance is several, and not joint or joint and several, and is not conditioned upon the performance by any other Bank of its obligation to make Advances. The failure by any Bank to perform its obligation to make any Advance will not increase the obligation of any other Bank to make Advances. (g) The Borrower may redesignate a Base Rate Loan as a Eurodollar Rate Loan, or a Eurodollar Rate Loan as a Base Rate Loan or a Eurodollar Rate Loan with a new Interest Period, by delivering a Loan Notice to the Administrative Agent, within the time periods and pursuant to the conditions set forth in Section 2.1(c), 2.2 or 2.3, as applicable, and elsewhere in this Agreement. If no Loan Notice has been made prior to the last day of the Interest Period for an outstanding Eurodollar Rate Loan within the requisite notice periods set forth in Section 2.3, then the Borrower shall be deemed to have requested that such Eurodollar Rate Loan be redesignated as a Base Rate Loan. (h) The Advances made by each Bank under this Section 2.1 shall be evidenced by that Bank's Note’s Note to the extent requested by such Bank.

Appears in 1 contract

Sources: Revolving Credit Agreement (WCI Communities, Inc.)

Loans-General. (a) Subject to the terms and conditions set forth in this Agreement (including Section 8.2)Agreement, at any time from and from time to time from after the Closing Restatement Date through the Business Day immediately preceding the Maturity Date, each Bank shall, pro rata according to that Bank's its Pro Rata Share of the Commitment then in effectShare, make Advances to Borrower under the Commitment in such amounts as Borrower may requestrequest that do not exceed in the aggregate at any one time outstanding the amount of that Bank’s Pro Rata Share; provided that after that, giving effect to the Loan of which such AdvanceAdvance is a part, the Total Outstandings sum of (i) the aggregate principal amount outstanding under the Notes plus (ii) the aggregate amount available for drawing under the outstanding Letters of Credit plus (iii) the aggregate amount of all unreimbursed draws with respect to all Letters of Credit, shall not exceed the then applicable Commitment. Subject to the limitations set forth herein, Borrower may borrow, repay and reborrow under this Section 2.1 (a2.1(a) without premium or penalty. In no event shall the Banks be obligated to make Loans to the Borrower at any time if, after giving effect to such Loans, the provisions of Section 6.17 would be violated. (b) [Intentionally Omitted] (c) Subject to the next sentence and to Sections 2.4(e) and 2.5(c)sentence, each Loan shall be made pursuant to Borrower's irrevocable a Request for Loan Notice to the Administrative Agent, which shall specify the requested (i) date of such Loan, (ii) type which shall be a Banking Day in the case of Loan, (iii) amount of such a Base Rate Loan and (iv) a Eurodollar Banking Day in the case of a Eurodollar Rate Loan, Interest (ii) amount of such Loan, (iii) type of such Loan, and (iv) in the case of Eurodollar Rate Loans, the Eurodollar Period for such Loan. Each telephonic Loan Notice by the Borrower pursuant to this Section 2.1(c) must be confirmed promptly by delivery to Unless the Administrative Agent of has notified, in its sole and absolute discretion, Borrower to the contrary, a written Loan Noticeloan may be requested by telephone, appropriately completed and signed telecopier or telex by a Responsible Official of Borrower. Borrower shall immediately confirm each requested Loan by submitting a Request for Loan conforming with the Borrowerrequirements of the preceding sentence to the Administrative Agent by telecopier, with the original thereof to follow by mail. In the case of the initial Loans to be made on the Restatement Date, the Request for Loan to be delivered by the Borrower shall be delivered to the Administrative Agent no later than 12:00 noon (California time), one day before the Restatement Date, and such Loans shall be Base Rate Loans only and, notwithstanding Section 2.1(d) may be in any amount which does not exceed the Commitment. (dc) Promptly following receipt of a Loan NoticeRequest for Loan, the Administrative Agent shall notify each Bank by telephone, telecopier or telex of the date and type of the Loan, the applicable Interest Period in the case of a Eurodollar Rate Loan, Loan and that Bank's ’s Pro Rata Share of the Loan. Not later than 12:00 noon, Los Angeles California time, in the case where a Base Rate Loan is requested, and 10:00 a.m. California time, in the case where a Eurodollar Rate Loan is requested, on the date specified for any Loan, each Bank shall make its Pro Rata Share of the Loan in immediately available funds available to the Administrative Agent at the Administrative Agent's ’s Office. Upon fulfillment of the applicable conditions set forth in Article VIII8, all Advances shall be credited in immediately available funds to the Designated Deposit Account. (ed) The principal amount of Unless the Majority Banks otherwise consent, each Loan under the Commitment shall be in an integral multiple of $1,000,000 and shall be in an amount not less 250,000 which is equal to or greater than (i) $1,000,000 if such Loan is a Base Rate Loan and (ii) $5,000,000 if such Loan is a Eurodollar Rate Loan1,000,000. (f) A Loan Notice shall be irrevocable upon the Administrative Agent's first notification thereof. The obligation of each Bank to make any Advance is several, and not joint or joint and several, and is not conditioned upon the performance by any other Bank of its obligation to make Advances. The failure by any Bank to perform its obligation to make any Advance will not increase the obligation of any other Bank to make Advances. (g) Borrower may redesignate a Base Rate Loan as a Eurodollar Rate Loan, or a Eurodollar Rate Loan as a Base Rate Loan or a Eurodollar Rate Loan with a new Interest Period, by delivering a Loan Notice to the Administrative Agent, within the time periods and pursuant to the conditions set forth in Section 2.1(c), 2.2 or 2.3, as applicable, and elsewhere in this Agreement. If no Loan Notice has been made prior to the last day of the Interest Period for an outstanding Eurodollar Rate Loan within the requisite notice periods set forth in Section 2.3, then Borrower shall be deemed to have requested that such Eurodollar Rate Loan be redesignated as a Base Rate Loan. (he) The Advances made by each Bank under this Section 2.1 the Commitment shall be evidenced by that Bank's ’s Note. (f) Unless the Administrative Agent otherwise consents, no Request for Loan may be revoked by Borrower after its submission to the Administrative Agent. In the event that the Administrative Agent consents to the revocation of any Request for Loan submitted by the Borrower, Borrower agrees that it shall reimburse the Administrative Agent and each Bank for any loss, cost, damage or expense associated with any redeployment of funds caused by such revocation. (g) If, as of the end of the Eurodollar Period with respect to any Eurodollar Rate Loan, Borrower has not submitted a Request for Loan or orally requested a Base Rate Loan in accordance with Section 2.1(b), or if any Request for Loan submitted by Borrower for a Eurodollar Rate Loan fails to satisfy the notice periods specified in Section 2.3, then, in the absence of notice from Borrower to the contrary, Borrower shall be deemed to have requested a Base Rate Loan in an amount equal to the maturing Eurodollar Rate Loan, and the Banks shall make the Advances necessary to make such Loan notwithstanding Sections 2.1(b) and 2.2.

Appears in 1 contract

Sources: Loan Agreement (NGA Holdco, LLC)