Common use of Making of Revolving Loans Clause in Contracts

Making of Revolving Loans. If the Borrower elects to have the terms of this Section 2.4(e) apply to a requested Revolving Credit Borrowing of a Base Rate Loan or if the Agent receives a Notice of Borrowing for a Term Benchmark Loan or RFR Loans (if then applicable), then, promptly after receipt of the Notice of Borrowing with respect to such Revolving Base Rate Loan, Revolving Term Benchmark Loan or Revolving RFR Loan, the Agent shall notify the Revolving Credit Lenders by telecopy, telephone or e-mail of the requested Borrowing. Each Revolving Credit Lender shall transfer its Pro Rata Share of the requested Borrowing to the Agent in immediately available funds, to the account from time to time designated by the Agent, not later than 12:00 noon (New York City time) on the applicable Funding Date; provided that on the Closing Date, such funds may be made available at such earlier time as may be agreed among the relevant Lenders, the Borrower and the Agent for the purpose of consummating the Transactions. After the Agent’s receipt of all such amounts from the Lenders (or, in the event that a Defaulting Lender does not fund its portion of Loans, after the Agent receives such amounts from all other Lenders), the Agent shall make the aggregate of such amounts available to the Borrower on the applicable Funding Date by transferring same day funds to the account(s) designated by the Borrower; provided, however, that the amount of Revolving Loans so made on any date shall not exceed the then-current Availability on such date.

Appears in 6 contracts

Samples: Credit Agreement (ProFrac Holding Corp.), Credit Agreement (ProFrac Holding Corp.), Credit Agreement (ProFrac Holding Corp.)

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Making of Revolving Loans. If the Borrower elects to have the terms of this Section 2.4(e) apply to a requested Revolving Credit Borrowing of a Base Rate Loan or if the Agent receives a Notice of Borrowing for a Term Benchmark Loan or RFR Loans (if then applicable)LIBOR Loan, then, promptly after receipt of the Notice of Borrowing with respect to such Revolving Base Rate Loan, Revolving Term Benchmark Loan or Revolving RFR LIBOR Loan, the Agent shall notify the Revolving Credit Lenders by telecopy, telephone or e-mail of the requested Borrowing. Each Revolving Credit Lender shall transfer its Pro Rata Share of the requested Borrowing to the Agent in immediately available funds, to the account from time to time designated by the Agent, not later than 12:00 noon (New York City time) on the applicable Funding Date; provided that on the Closing Date, such funds may be made available at such earlier time as may be agreed among the relevant Lenders, the Borrower and the Agent for the purpose of consummating the Transactions. After the Agent’s receipt of all such amounts from the Lenders (or, in the event that a Defaulting Lender does not fund its portion of Loans, after the Agent receives such amounts from all other Lenders), the Agent shall make the aggregate of such amounts available to the Borrower on the applicable Funding Date by transferring same day funds to the account(s) designated by the Borrower; provided, however, that the amount of Revolving Loans so made on any date shall not exceed the then-current Availability on such date.

Appears in 4 contracts

Samples: Credit Agreement (ProPetro Holding Corp.), Credit Agreement (ProPetro Holding Corp.), Credit Agreement (ProPetro Holding Corp.)

Making of Revolving Loans. If the Borrower elects to have the terms of this Section 2.4(e) apply to a requested Revolving Credit Borrowing of a Base Rate Loan or if the Agent receives a Notice of Borrowing for a Term Benchmark Loan or RFR Loans (if then applicable)LIBOR Loan, then, promptly after receipt of the Notice of Borrowing with respect to such Revolving Base Rate Loan, Revolving Term Benchmark Loan or Revolving RFR LIBOR Loan, the Agent shall notify the Revolving Credit Lenders by telecopy, telephone or e-mail of the requested Borrowing. Each Revolving Credit Lender shall transfer its Pro Rata Share of the requested Borrowing to the Agent in immediately available funds, to the account from time to time designated by the Agent, not later than 12:00 noon (New York City time) on the applicable Funding Date; provided that on the Closing Date, such funds may be made available at such earlier time as may be agreed among the relevant Lenders, the Borrower and the Agent for the purpose of consummating the Transactions. After the Agent’s receipt of all such amounts from the Lenders (or, in the event that a Defaulting Lender does not fund its portion of Loans, after the Agent receives such amounts from all other Lenders), the Agent shall make the aggregate of such amounts available to the Borrower on the applicable Funding Date by transferring same day funds to the account(s) designated by the Borrower; provided, however, that the amount of Revolving Loans so made on any date shall not exceed the then-current Availability on such date.

Appears in 3 contracts

Samples: Credit Agreement (ProFrac Holding Corp.), Credit Agreement (ProFrac Holding Corp.), Credit Agreement (ProFrac Holding Corp.)

Making of Revolving Loans. If (i) In the Borrower elects event that Swing Lender is not obligated to have the terms of this Section 2.4(e) apply to make a requested Revolving Credit Borrowing of a Base Rate Loan or if the Agent receives a Notice of Borrowing for a Term Benchmark Loan or RFR Loans (if Swing Loan, then applicable), then, promptly after receipt of the Notice of a request for a Borrowing with respect pursuant to such Revolving Base Rate LoanSection 2.2(a), Revolving Term Benchmark Loan or Revolving RFR Loan, the Agent shall notify the Revolving Credit Lenders by telecopy, telephone telephone, email, or e-mail other electronic form of transmission, of the requested Borrowing; such notification to be sent on the Business Day that is 1 Business Day prior to the requested Funding Date. Each Revolving Credit If Agent has notified the Lenders of a requested Borrowing on the Business Day that is 1 Business Day prior to the Funding Date, then each Lender shall transfer its make the amount of such Lender's Pro Rata Share of the requested Borrowing available to the Agent in immediately available funds, to the account from time to time designated by the Agent's Account, not later than 12:00 noon (New York City time) on the applicable Business Day that is the requested Funding Date; provided that on . After Agent's receipt of the Closing Date, proceeds of such funds may be made available at such earlier time as may be agreed among Revolving Loans from the relevant Lenders, the Borrower and the Agent for the purpose of consummating the Transactions. After the Agent’s receipt of all such amounts from the Lenders (or, in the event that a Defaulting Lender does not fund its portion of Loans, after the Agent receives such amounts from all other Lenders), the Agent shall make the aggregate of such amounts proceeds thereof available to the Borrower Borrowers on the applicable Funding Date by transferring same day immediately available funds equal to such proceeds received by Agent to the account(s) designated by the BorrowerDesignated Account; provided, howeverthat, that subject to the amount provisions of Section 2.2(e)(ii), no Lender shall have an obligation to make any Revolving Loans so made Loan, if (1) one or more of the applicable conditions precedent set forth in Section 3 will not be satisfied on any date shall not the requested Funding Date for the applicable Borrowing unless such condition has been waived, or (2) the requested Borrowing would exceed the then-current Availability on such dateFunding Date.

Appears in 3 contracts

Samples: Credit Agreement (MGP Ingredients Inc), Credit Agreement (MGP Ingredients Inc), Credit Agreement (MGP Ingredients Inc)

Making of Revolving Loans. If (i) In the Borrower elects event that a Swing Loan is not requested or Swing Lender is not obligated to have the terms of this Section 2.4(e) apply to make a requested Revolving Credit Borrowing of a Base Rate Loan or if the Agent receives a Notice of Borrowing for a Term Benchmark Loan or RFR Loans (if Swing Loan, then applicable), then, promptly after receipt of the Notice of a request for a Borrowing with respect pursuant to such Revolving Base Rate LoanSection 2.3(a), Revolving Term Benchmark Loan or Revolving RFR Loan, the Agent shall notify the Revolving Credit Lenders by telecopy, telephone telephone, email, or e-mail other electronic form of transmission, of the requested Borrowing; such notification to be sent on the Business Day that is one (1) Business Day prior to the requested Funding Date. Each Revolving Credit If Agent has notified the Lenders of a requested Borrowing on the Business Day that is one (1) Business Day prior to the Funding Date, then each Lender shall transfer its make the amount of such Xxxxxx’s Pro Rata Share of the requested Borrowing available to the Agent in immediately available funds, to the account from time to time designated by the applicable Agent’s Account, not later than 12:00 noon (New York City time) 10:00 a.m. on the applicable Business Day that is the requested Funding Date; provided that on the Closing Date, such funds may be made available at such earlier time as may be agreed among the relevant Lenders, the Borrower and the Agent for the purpose of consummating the Transactions. After the Agent’s receipt of all the proceeds of such amounts Revolving Loans from the Lenders (orLenders, in the event that a Defaulting Lender does not fund its portion of Loans, after the Agent receives such amounts from all other Lenders), the Agent shall make the aggregate of such amounts proceeds thereof available to the requesting Borrower on the applicable Funding Date by transferring same day immediately available funds equal to such proceeds received by Agent to the account(sapplicable Designated Account; provided that, subject to the provisions of Section 2.3(d)(ii), no Lender shall have an obligation to make any Revolving Loan, if (A) designated by one or more of the Borrower; providedapplicable conditions precedent set forth in Section 3 will not be satisfied on the requested Funding Date for the applicable Borrowing unless such condition has been waived, however, that or (B) the amount of Revolving Loans so made on any date shall not requested Borrowing would exceed the then-current Availability on such dateFunding Date.

Appears in 2 contracts

Samples: Credit Agreement (Vector Group LTD), Credit Agreement (Vector Group LTD)

Making of Revolving Loans. If (i) In the Borrower elects event that Swing Lender is not obligated to have the terms of this Section 2.4(e) apply to make a requested Revolving Credit Borrowing of a Base Rate Loan or if the Agent receives a Notice of Borrowing for a Term Benchmark Loan or RFR Loans (if Swing Loan, then applicable), then, promptly after receipt of the Notice of a request for a Borrowing with respect pursuant to such Revolving Base Rate LoanSection 2.3(a)(i), Revolving Term Benchmark Loan or Revolving RFR Loan, the Agent shall notify the Revolving Credit Lenders by telecopy, telephone telephone, email, or e-mail other electronic form of transmission, of the requested Borrowing; such notification to be sent on the Business Day that is at least one Business Day prior to the requested Funding Date. Each Revolving Credit If Agent has notified the Lenders of a requested Borrowing on the Business Day that is one Business Day prior to the Funding Date, then each Lender shall transfer its make the amount of such Lender’s Pro Rata Share of the requested Borrowing available to the Agent in immediately available funds, to the account from time to time designated by the AgentAgent Payment Account, not later than 12:00 noon (New York City time) 10:00 a.m. on the applicable Business Day that is the requested Funding Date; provided that on the Closing Date, such funds may be made available at such earlier time as may be agreed among the relevant Lenders, the Borrower and the Agent for the purpose of consummating the Transactions. After the Agent’s receipt of all the proceeds of such amounts Revolving Loans from the Lenders (orLenders, in the event that a Defaulting Lender does not fund its portion of Loans, after the Agent receives such amounts from all other Lenders), the Agent shall make the aggregate of such amounts proceeds thereof available to the Borrower Borrowers on the applicable Funding Date by transferring same day immediately available funds equal to such proceeds received by Agent to the account(s) designated by the BorrowerDesignated Account; provided, howeverthat subject to the provisions of Section 2.3(d)(ii), that no Lender shall have an obligation to make any Revolving Loan, if (1) one or more of the amount of Revolving Loans so made applicable conditions precedent set forth in Section 3 will not be satisfied on any date shall not the requested Funding Date for the applicable Borrowing unless such condition has been waived, or (2) the requested Borrowing would cause the Revolver Usage to exceed the then-current Availability Loan Cap on such dateFunding Date.

Appears in 2 contracts

Samples: Credit Agreement (CVR Partners, Lp), Credit Agreement (CVR Energy Inc)

Making of Revolving Loans. If (i) In the Borrower elects event that Swing Lender is not obligated to have the terms of this Section 2.4(e) apply to make a requested Revolving Credit Borrowing of a Base Rate Loan or if the Agent receives a Notice of Borrowing for a Term Benchmark Loan or RFR Loans (if Swing Loan, then applicable), then, promptly after receipt of the Notice of a request for a Borrowing with respect pursuant to such Revolving Base Rate LoanSection 2.3(a), Revolving Term Benchmark Loan or Revolving RFR Loan, the Agent shall notify the Revolving Credit Lenders by telecopy, telephone telephone, email, or e-mail other electronic form of transmission, of the requested Borrowing; such notification to be sent on the Business Day that is 1 Business Day prior to the requested Funding Date. Each Revolving Credit If Agent has notified the Lenders of a requested Borrowing on the Business Day that is 1 Business Day prior to the Funding Date, then each Lender shall transfer its make the amount of such Lender’s Pro Rata Share of the requested Borrowing available to the Agent in immediately available funds, to the account from time to time designated by the Agent’s Account, not later than 12:00 noon (New York City time) 10:00 a.m. on the applicable Business Day that is the requested Funding Date; provided that on the Closing Date, such funds may be made available at such earlier time as may be agreed among the relevant Lenders, the Borrower and the Agent for the purpose of consummating the Transactions. After the Agent’s receipt of all the proceeds of such amounts Revolving Loans from the Lenders (orLenders, in the event that a Defaulting Lender does not fund its portion of Loans, after the Agent receives such amounts from all other Lenders), the Agent shall make the aggregate of such amounts proceeds thereof available to the Borrower Borrowers on the applicable Funding Date by transferring same day immediately available funds equal to such proceeds received by Agent to the account(s) designated by the BorrowerDesignated Account; provided, howeverthat, that subject to the amount provisions of Section 2.3(d)(ii), no Lender shall have an obligation to make any Revolving Loans so made Loan, if (1) one or more of the applicable conditions precedent set forth in Section 3 (including, without limitation, the conditions precedent set forth in the final paragraph of Section 3.2 hereof) will not be satisfied on any date shall not the requested Funding Date for the applicable Borrowing unless such condition has been waived, or (2) the requested Borrowing would exceed the then-current Availability on such dateFunding Date.

Appears in 2 contracts

Samples: Possession Credit Agreement (School Specialty Inc), Patent Security Agreement (School Specialty Inc)

Making of Revolving Loans. If the Borrower elects to have the terms (i) Promptly after receipt of this Section 2.4(e) apply to a requested Revolving Credit Borrowing of a Base Rate Loan or if the Agent receives a Notice of Borrowing for a Term Benchmark Loan under Section 2.01(c) (or RFR Loans (if then applicabletelephonic notice in lieu thereof), then, promptly after receipt of the Notice of Borrowing with respect to such Revolving Base Rate Loan, Revolving Term Benchmark Loan or Revolving RFR Loan, the Agent shall notify the Revolving Credit Lenders each Lender by telex or telecopy, telephone or e-mail other similar form of transmission, of the requested proposed Borrowing. Each Revolving Credit Lender shall transfer deposit an amount equal to its Pro Rata Share of the amount requested by the U.S. Borrower to be made as Revolving Loans, (A) in the case of a Borrowing to in Dollars, with the Agent at its office in New York, New York, in immediately available funds, and (B) in the case of a Borrowing in an Alternative Currency, with Citibank London at its office in London, England in immediately available funds, in either instance, (1) on the Effective Date with respect to the account from time to time designated by Borrowing of Revolving Loans on such date specified in the Agent, initial Notice of Borrowing and (2) not later than 12:00 noon 11:00 a.m. (New York City time) on any other Funding Date for Revolving Loans. Subject to the applicable Funding Date; provided that on fulfillment of the Closing Dateconditions precedent set forth in Section 6.01 or Section 6.02, such funds may be made available at such earlier time as may be agreed among the relevant Lenders, the Borrower and the Agent for the purpose of consummating the Transactions. After the Agent’s receipt of all such amounts from the Lenders (or, in the event that a Defaulting Lender does not fund its portion of Loans, after the Agent receives such amounts from all other Lenders)applicable, the Agent or Citibank London, as applicable, shall make the aggregate proceeds of such amounts received by it available to the applicable Borrower at the respective aforesaid office of the Agent or Citibank London on such Funding Date (or on the date received if later than such Funding Date) and shall disburse such proceeds in accordance with the U.S. Borrower's disbursement instructions set forth in the applicable Notice of Borrowing. The failure of any Lender to deposit the amount described above with the Agent on the applicable Funding Date shall not relieve any other Lender of its obligations hereunder to make its Revolving Loan on such Funding Date. In the event the conditions precedent set forth in Section 6.01 or 6.02, as applicable, are not fulfilled as of the proposed Funding Date for any Borrowing, the Agent shall promptly return, by transferring same day funds to the account(s) designated by the Borrower; providedwire transfer of immediately available funds, however, that the amount of Revolving Loans so made on any date shall not exceed the then-current Availability on deposited by each Lender to such dateLender.

Appears in 2 contracts

Samples: Credit Agreement (Freedom Chemical Co), Credit Agreement (Freedom Chemical Co)

Making of Revolving Loans. If (i) In the Borrower elects event that Swing Lender is not obligated to have the terms of this Section 2.4(e) apply to make a requested Revolving Credit Borrowing of a Base Rate Loan or if the Agent receives a Notice of Borrowing for a Term Benchmark Loan or RFR Loans (if Swing Loan, then applicable), then, promptly after receipt of the Notice of a request for a Borrowing with respect pursuant to such Revolving Base Rate LoanSection 2.3(a), Revolving Term Benchmark Loan or Revolving RFR Loan, the Agent shall notify the Revolving Credit Lenders by telecopy, telephone telephone, email, or e-mail other electronic form of transmission, of the requested Borrowing; such notification to be sent on the Business Day that is 1 Business Day prior to the requested Funding Date. Each Revolving Credit If Agent has notified the Lenders of a requested Borrowing on the Business Day that is 1 Business Day prior to the Funding Date, then each Lender having Revolver Commitments shall transfer its make the amount of such Lender’s Pro Rata Share of the requested Borrowing available to the Agent in immediately available funds, to the account from time to time designated by the Agent’s Account, not later than 12:00 noon (New York City time) 10:00 a.m. on the applicable Business Day that is the requested Funding Date; provided that on the Closing Date, such funds may be made available at such earlier time as may be agreed among the relevant Lenders, the Borrower and the Agent for the purpose of consummating the Transactions. After the Agent’s receipt of all the proceeds of such amounts Revolving Loans from the Lenders (orLenders, in the event that a Defaulting Lender does not fund its portion of Loans, after the Agent receives such amounts from all other Lenders), the Agent shall make the aggregate of such amounts proceeds thereof available to the Borrower on the applicable Funding Date by transferring same day immediately available funds equal to such proceeds received by Agent to the account(s) designated by the BorrowerDesignated Account; provided, howeverthat, that subject to the amount provisions of Section 2.3(d)(ii), no Lender shall have an obligation to make any Revolving Loans so made Loan, if (1) one or more of the applicable conditions precedent set forth in Section 3 will not be satisfied on any date shall not the requested Funding Date for the applicable Borrowing unless such condition has been waived in accordance with this Agreement, or (2) the requested Borrowing would exceed the then-current Availability on such dateFunding Date.

Appears in 2 contracts

Samples: Credit Agreement (Asure Software Inc), Credit Agreement (Asure Software Inc)

Making of Revolving Loans. If (i) In the Borrower elects event that Swing Lender is not obligated to have the terms of this Section 2.4(e) apply to make a requested Revolving Credit Borrowing of a Base Rate Loan or if the Agent receives a Notice of Borrowing for a Term Benchmark Loan or RFR Loans (if Swing Loan, then applicable), then, promptly after receipt of the Notice of a request for a Borrowing with respect pursuant to such Revolving Base Rate LoanSection 2.3(a), Revolving Term Benchmark Loan or Revolving RFR Loan, the Administrative Agent shall notify the Revolving Credit Lenders by telecopy, telephone telephone, email, or e-mail other electronic form of transmission, of the requested Borrowing; such notification to be sent on the Business Day that is one (1) Business Day prior to the requested Funding Date. Each Revolving Credit If Administrative Agent has notified the Lenders of a requested Borrowing on the Business Day that is one (1) Business Day prior to the Funding Date, then each Lender shall transfer its make the amount of such Lender’s Pro Rata Share of the requested Borrowing available to the Administrative Agent in immediately available funds, to the account from time to time designated by the Administrative Agent’s Account, not later than 12:00 noon (New York City time) 10:00 a.m. on the applicable Business Day that is the requested Funding Date; provided that on the Closing Date, such funds may be made available at such earlier time as may be agreed among the relevant Lenders, the Borrower and the Agent for the purpose of consummating the Transactions. After the Administrative Agent’s receipt of all the proceeds of such amounts Revolving Loans from the Lenders (orLenders, in the event that a Defaulting Lender does not fund its portion of Loans, after the Agent receives such amounts from all other Lenders), the Administrative Agent shall make the aggregate of such amounts proceeds thereof available to the Borrower Borrowers on the applicable Funding Date by transferring same day immediately available funds equal to such proceeds received by Administrative Agent to the account(s) designated by the BorrowerDesignated Account; provided, howeverthat, that subject to the amount provisions of Section 2.3(d)(ii), no Lender shall have an obligation to make any Revolving Loans so made Loan, if (1) one or more of the applicable conditions precedent set forth in Section 3.2 will not be satisfied on any date shall not the requested Funding Date for the applicable Borrowing unless such condition has been waived, or (2) the requested Borrowing would exceed the then-current Availability on such dateFunding Date.

Appears in 2 contracts

Samples: Credit Agreement (Thryv Holdings, Inc.), Credit Agreement (Thryv Holdings, Inc.)

Making of Revolving Loans. If the Borrower elects to have the terms (i) Promptly after receipt of this Section 2.4(e) apply to a requested Revolving Credit Borrowing of a Base Rate Loan or if the Agent receives a Notice of Borrowing for a Term Benchmark Loan under Section 2.02(b) (or RFR Loans (if then applicabletelephonic notice in lieu thereof), then, promptly after receipt of the Notice of Borrowing with respect to such Revolving Base Rate Loan, Revolving Term Benchmark Loan or Revolving RFR Loan, the Administrative Agent shall notify the Revolving Credit Lenders each Lender by telex or telecopy, telephone or e-mail other similar form of transmission, of the requested proposed Borrowing. Each Revolving Credit Lender shall transfer deposit an amount equal to its Revolving Loan Pro Rata Share of the amount requested Borrowing by the Borrowers to be made as Revolving Loans with the Administrative Agent at its office in New York, New York, in immediately available funds, (A) on the Effective Date with respect to the account from time to time designated by Borrowing of Revolving Loans on such date specified in the Agent, initial Notice of Borrowing and (B) not later than 12:00 noon (New York City time) on any other Funding Date for Revolving Loans. Subject to the applicable Funding Date; provided that on fulfillment of the Closing Dateconditions precedent set forth in Section 6.01 or Section 6.02, such funds may be made available at such earlier time as may be agreed among the relevant Lendersapplicable, the Borrower and the Agent for the purpose of consummating the Transactions. After the Agent’s receipt of all such amounts from the Lenders (or, in the event that a Defaulting Lender does not fund its portion of Loans, after the Agent receives such amounts from all other Lenders), the Administrative Agent shall make the aggregate proceeds of such amounts received by it available to the Borrower Borrowers at the Administrative Agent's office in New York, New York on such Funding Date (or on the date received if later than such Funding Date) and shall disburse such proceeds in accordance with the Borrowers' disbursement instructions set forth in the applicable Notice of Borrowing. The failure of any Revolving Lender to deposit the amount described above with the Administrative Agent on the applicable Funding Date shall not relieve any other Revolving Lender of its obligations hereunder to make its Revolving Loan on such Funding Date. In the event the conditions precedent set forth in Section 6.01 or 6.02, as applicable, are not fulfilled as of the proposed Funding Date for any Borrowing, the Administrative Agent shall promptly return, by transferring same day funds to the account(s) designated by the Borrower; providedwire transfer of immediately available funds, however, that the amount of deposited by each Revolving Loans so made on any date shall not exceed the then-current Availability on Lender to such dateLender.

Appears in 1 contract

Samples: Credit Agreement (Banner Aerospace Inc)

Making of Revolving Loans. If (1) In the Borrower elects event that the Agent shall elect to have the terms of this Section 2.4(e2.2(g) apply to a requested Revolving Credit Borrowing as described in Section 2.2(f), then promptly after receipt of a Base Rate Loan or if the Agent receives a Notice of Borrowing for a Term Benchmark Loan or RFR Loans (if then applicabletelephonic notice pursuant to Section 2.2(b), then, promptly after receipt of the Notice of Borrowing with respect to such Revolving Base Rate Loan, Revolving Term Benchmark Loan or Revolving RFR Loan, the Agent shall notify the Revolving Credit Lenders by telecopy, telephone or e-mail other similar form of transmission, of the requested Borrowing. Each Revolving Credit Lender shall transfer its make the amount of such Lender's Pro Rata Share of the requested Borrowing available to the Agent in immediately available same day funds, to such account of the account from time to time designated by Agent as the AgentAgent may designate, not later than 12:00 noon noon, (New York City Pacific time) on the Funding Date applicable Funding Date; provided that on the Closing Date, such funds may be made available at such earlier time as may be agreed among the relevant Lenders, the Borrower and the Agent for the purpose of consummating the Transactionsthereto. After the Agent’s 's receipt of all the proceeds of such amounts from the Lenders (or, in the event that a Defaulting Lender does not fund its portion of Revolving Loans, after upon satisfaction of the Agent receives such amounts from all other Lenders)applicable conditions precedent set forth in Article 10, the Agent shall make the aggregate proceeds of such amounts Revolving Loans available to the Borrower on the applicable Funding Date by transferring same day funds equal to the account(s) designated proceeds of such Revolving Loans received by the Agent to the account of the Borrower, designated in writing by the Borrower and acceptable to the Agent; provided, however, that the amount of Revolving Loans so made on any date shall not in no event exceed the then-current Availability of the Borrower on such date. (2) Unless the Agent receives notice from a Lender on or prior to the Closing Date or, with respect to any Borrowing after the Closing Date, at least one Business Day prior to the date of such Borrowing, that such Lender will not make available as and when required hereunder to the Agent for the account of the Borrower the amount of that Lender's Pro Rata Share of the Borrowing, the Agent may assume that each Lender has made such amount available to the Agent in immediately available funds on the Funding Date and the Agent may (but shall not be so required), in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent any Lender shall not have made its full amount available to the Agent in immediately available funds and the Agent in such circumstances has made available to the Borrower such amount, that Lender shall on the Business Day following such Funding Date make such amount available to the Agent, together with interest at the Federal Funds Rate for each day during such period. A notice of the Agent submitted to any Lender with respect to amounts owing under this subsection shall be conclusive, absent manifest error. If such amount is so made available, such payment to the Agent shall constitute such Lender's Loan on the payment date for all purposes of this Agreement. If such amount is not made available to the Agent on the Business Day following the Funding Date, the Agent will notify the Borrower of such failure to fund and, upon demand by the Agent, the Borrower shall pay such amount to the Agent for the Agent's account, together with interest thereon for each day elapsed since the date of such Borrowing, at a rate per annum equal to the Interest Rate applicable at the time to the Loans comprising such Borrowing. The failure of any Lender to make any Loan on any Funding Date (any such Lender, prior to the cure of such failure, being hereinafter referred to as a "Defaulting Lender") shall not relieve any other Lender of any obligation hereunder to make a Loan on such Funding Date, but no Lender shall be responsible for the failure of any other Lender to make the Loan to be made by such other Lender on any Funding Date.

Appears in 1 contract

Samples: Loan and Security Agreement (Merisel Inc /De/)

Making of Revolving Loans. If (i) In the Borrower elects event that Swing Lender is not obligated to have the terms of this Section 2.4(e) apply to make a requested Revolving Credit Borrowing of a Base Rate Loan or if the Agent receives a Notice of Borrowing for a Term Benchmark Loan or RFR Loans (if Swing Loan, then applicable), then, promptly after receipt of the Notice of a request for a Borrowing with respect pursuant to such Revolving Base Rate LoanSection 2.3(a), Revolving Term Benchmark Loan or Revolving RFR Loan, the Administrative Agent shall notify the Revolving Credit Lenders by telecopy, telephone telephone, email, or e-mail other electronic form of transmission, of the requested Borrowing; such notification to be sent on the Business Day that is 1 Business Day prior to the requested Funding Date. Each Revolving Credit If Administrative Agent has notified the Lenders of a requested Borrowing on the Business Day that is 1 Business Day prior to the Funding Date, then each Lender shall transfer its make the amount of such Lender’s Pro Rata Share of the requested Borrowing available to the Administrative Agent in immediately available funds, to the account from time to time designated by the Administrative Agent’s Account, not later than 12:00 noon (New York City time) on the applicable Business Day that is the requested Funding Date; provided that on the Closing Date, such funds may be made available at such earlier time as may be agreed among the relevant Lenders, the Borrower and the Agent for the purpose of consummating the Transactions. After the Administrative Agent’s receipt of all the proceeds of such amounts Revolving Loans from the Lenders (orLenders, in the event that a Defaulting Lender does not fund its portion of Loans, after the Agent receives such amounts from all other Lenders), the Administrative Agent shall make the aggregate of such amounts proceeds thereof available to the Borrower Borrowers on the applicable Funding Date by transferring same day immediately available funds equal to such proceeds received by Administrative Agent to the account(s) designated by the BorrowerDesignated Account; provided, howeverthat, that subject to the amount provisions of Section 2.3(d)(ii), no Lender shall have an obligation to make any Revolving Loans so made Loan if (1) one or more of the applicable conditions precedent set forth in Section 3 will not be satisfied on any date shall not the requested Funding Date for the applicable Borrowing unless such condition has been waived, or (2) the requested Borrowing would exceed the then-current Availability on such dateFunding Date.

Appears in 1 contract

Samples: Credit Agreement (Anixter International Inc)

Making of Revolving Loans. (i) If the Borrower elects to have the terms of this Section 2.4(e) apply to a requested Revolving Credit Borrowing of a Base Rate Loan or if the Agent receives a Notice of Borrowing for a Term Benchmark Loan or RFR Loans (if then applicable)LIBOR Loan, then, promptly after receipt of the Notice of Borrowing with respect to such Revolving Base Rate Loan, Revolving Term Benchmark Loan or Revolving RFR LIBOR Loan, the Agent shall notify the applicable Revolving Credit Lenders by telecopy, telephone or e-mail of the requested Borrowing. Each applicable Revolving Credit Lender shall transfer its Pro Rata Share of the requested Borrowing to the Agent in immediately available funds, to the account from time to time designated by the Agent, not later than 12:00 noon (New York City time) on the applicable Funding Date; provided that on the Closing Date, such funds may be made available at such earlier time as may be agreed among the relevant Lenders, the Borrower and the Agent for the purpose of consummating the Transactions. After the Agent’s receipt of all such amounts from the Lenders (or, in the event that a Defaulting Lender does not fund its portion of Loans, after the Agent receives such amounts from all other Lenders), the The Agent shall make the aggregate of such amounts available to the Borrower on the applicable Funding Date by transferring same day funds to the account(s) designated by the Borrower; provided, however, that the amount of Revolving Loans so made on any date shall not exceed the then-current Availability on such date.

Appears in 1 contract

Samples: Credit Agreement (Nesco Holdings, Inc.)

Making of Revolving Loans. If (i) In the event that Swing Lender is not obligated to make a Swing Loan and elects not to do so or a Borrower elects to have the terms of this Section 2.4(e) apply to makes a requested Revolving Credit Borrowing of a Base Rate Loan or if the Agent receives a Notice of Borrowing request for a Term Benchmark Revolving Loan or RFR Loans (if then applicableother than a Swing Loan), then, promptly then after receipt of the Notice of a request for a Borrowing with respect pursuant to such Revolving Base Rate LoanSection 2.3(a)(i), Revolving Term Benchmark Loan or Revolving RFR Loan, the Agent shall notify the Revolving Credit Lenders by telecopy, telephone telephone, email, or e-mail other electronic form of transmission, of the requested Borrowing; such notification to be sent on the Business Day that is at least one Business Day prior to the requested Funding Date. Each Revolving Credit If Agent has notified the Lenders of a requested Borrowing on the Business Day that is one Business Day prior to the Funding Date, then each Lender shall transfer its make the amount of such Xxxxxx’s Pro Rata Share of the requested Borrowing available to the Agent in immediately available funds, to the account from time to time designated by the Agent’s Account, not later than 12:00 noon (New York City time) 10:00 a.m. on the applicable Business Day that is the requested Funding Date; provided that on the Closing Date, such funds may be made available at such earlier time as may be agreed among the relevant Lenders, the Borrower and the Agent for the purpose of consummating the Transactions. After the Agent’s receipt of all the proceeds of such amounts Revolving Loans from the Lenders (orLenders, in the event that a Defaulting Lender does not fund its portion of Loans, after the Agent receives such amounts from all other Lenders), the Agent shall make the aggregate of such amounts proceeds thereof available to the Borrower Borrowers on the applicable Funding Date by transferring same day immediately available funds equal to such proceeds received by Agent to the account(s) designated by the BorrowerDesignated Account; provided, howeverthat subject to the provisions of Section 2.3(d)(ii), no Lender shall have an obligation to make any Revolving Loan, if (1) one or more of the applicable conditions precedent set forth in Section 3 will not be satisfied on the requested Funding Date for the applicable Borrowing unless such condition has been waived, or (2) the requested Borrowing would cause Revolver Usage to exceed the Availability on such Funding Date. (ii) Unless Agent receives notice from a Lender prior to 9:30 a.m. on the Business Day that is the requested Funding Date relative to a requested Borrowing as to which Agent has notified the Lenders of a requested Borrowing that such Lender will not make available as and when required hereunder to Agent for the account of Borrowers the amount of Revolving Loans so that Xxxxxx’s Pro Rata Share of the Borrowing, Agent may assume that each Lender has made or will make such amount available to Agent in immediately available funds on any date the Funding Date and Agent may (but shall not exceed be so required), in reliance upon such assumption, make available to Borrowers a corresponding amount. If, on the then-current Availability requested Funding Date, any Lender shall not have remitted the full amount that it is required to make available to Agent in immediately available funds and if Agent has made available to Borrowers such amount on the requested Funding Date, then such Lender shall make the amount of such Lender’s Pro Rata Share of the requested Borrowing available to Agent in immediately available funds, to Agent’s Account, no later than 10:00 a.m. on the Business Day that is the first Business Day after the requested Funding Date (in which case, the interest accrued on such date.Xxxxxx’s portion of such Borrowing for the Funding Date shall be for Agent’s separate account). If any Lender shall not remit the full amount that it is required to make available to Agent in immediately available funds as and when required hereby and if Agent has made available to Borrowers such amount, then that Lender shall be obligated to immediately remit such amount to Agent, together with interest at the Defaulting Lender Rate for each day until the date on which such amount is so remitted. A notice submitted by Agent to any Lender with respect to amounts owing under this Section 2.3(c)(ii) shall be conclusive, absent manifest error. If the amount that a Lender is required to remit is made available to Agent, then such payment to Agent shall constitute such Xxxxxx’s Revolving Loan for all purposes of this Agreement. If such amount is not made available to Agent on the Business Day following the Funding Date, Agent will notify Administrative Borrower of such failure to fund and, upon demand by Agent, Borrowers shall pay such amount to Agent for Agent’s

Appears in 1 contract

Samples: Credit Agreement (Calumet Specialty Products Partners, L.P.)

Making of Revolving Loans. If (i) In the Borrower elects event that Swing Lender is not obligated to have make a Swing Loan, then after receipt of a timely request for a Borrowing pursuant to Section 2.3(a)(i), Agent shall notify the terms Lenders by telecopy, telephone, email, or other electronic form of this Section 2.4(etransmission, of the requested Borrowing; such notification to be sent on the Business Day or U.S. Government Securities Business Day, as applicable, that is (A) apply to a requested Revolving Credit Borrowing in the case of a Base Rate Loan or if the Agent receives a Notice of Borrowing for a Term Benchmark Loan or RFR Loans (if then applicable), then, promptly after receipt of the Notice of Borrowing with respect to such Revolving Base Rate Loan, Revolving Term Benchmark Loan at least one Business Day prior to the requested Funding Date or Revolving RFR (B) in the case of a LIBOR Rate SOFR Loan, the Agent shall notify the Revolving Credit Lenders by telecopy, telephone or e-mail of prior to 1:00 p.m. at least three U.S. Government Securities Business Days prior to the requested BorrowingFunding Date. Each Revolving Credit If Agent has notified the Lenders of a requested Borrowing on the Business Day that is one Business Day prior to the Funding Date, then each Lender shall transfer its make the amount of such Xxxxxx’s Pro Rata Share of the requested Borrowing available to the Agent in immediately available funds, to the account from time to time designated by the Agent’s Account, not later than 12:00 noon (New York City time) p.m. on the applicable Business Day that is the requested Funding Date; provided that on the Closing Date, such funds may be made available at such earlier time as may be agreed among the relevant Lenders, the Borrower and the Agent for the purpose of consummating the Transactions. After the Agent’s receipt of all the proceeds of such amounts Revolving Loans from the Lenders (orLenders, in the event that a Defaulting Lender does not fund its portion of Loans, after the Agent receives such amounts from all other Lenders), the Agent shall make the aggregate of such amounts proceeds thereof available to the Borrower Borrowers on the applicable Funding Date by transferring same day immediately available funds to such proceeds received by Agent to the account(s) designated by the BorrowerDesignated Account; provided, howeverthat, that subject to the amount provisions of Section 2.3(d)(ii), no Lender shall have an obligation to make any Revolving Loans so made Loan, if (1) one or more of the applicable conditions precedent set forth in Section 3 will not be satisfied on any date shall not the requested Funding Date for the applicable Borrowing unless such condition has been waived, or (2) the requested Borrowing would exceed the then-current Availability on such dateFunding Date.

Appears in 1 contract

Samples: Credit Agreement (Oil States International, Inc)

Making of Revolving Loans. If (i) In the Borrower elects event that Swing Lender is not obligated to have the terms of this Section 2.4(e) apply to make a requested Revolving Credit Borrowing of a Base Rate Swing Loan or if the Agent receives requested Borrowing is not a Notice of Borrowing for a Term Benchmark Loan or RFR Loans (if Swing Loan, then applicable), then, promptly after receipt of the Notice of a request for a Borrowing with respect pursuant to such Revolving Base Rate LoanSection 2.3(a)(i), Revolving Term Benchmark Loan or Revolving RFR Loan, the Agent shall notify the Revolving Credit Lenders by telecopy, telephone telephone, email, or e-mail other electronic form of transmission, of the requested Borrowing; such notification to be sent on the Business Day that is at least one Business Day prior to the requested Funding Date. Each Revolving Credit If Agent has notified the Lenders of a requested Borrowing on the Business Day that is one Business Day prior to the Funding Date, then each Lender shall transfer its make the amount of such Lender’s Pro Rata Share of the requested Borrowing available to the Agent in immediately available funds, to the account from time to time designated by the Agent’s Account, not later than 12:00 noon (New York City time) 10:00 a.m. on the applicable Business Day that is the requested Funding Date; provided that on the Closing Date, such funds may be made available at such earlier time as may be agreed among the relevant Lenders, the Borrower and the Agent for the purpose of consummating the Transactions. After the Agent’s receipt of all the proceeds of such amounts Revolving Loans from the Lenders (orLenders, in the event that a Defaulting Lender does not fund its portion of Loans, after the Agent receives such amounts from all other Lenders), the Agent shall make the aggregate of such amounts proceeds thereof available to the Borrower Borrowers on the applicable Funding Date by transferring same day immediately available funds equal to such proceeds received by Agent to the account(s) designated by the BorrowerAuthorized Account; provided, howeverthat subject to the provisions of Section 2.3(d)(ii), that no Lender shall have an obligation to make any Revolving Loan, if (1) one or more of the amount of Revolving Loans so made applicable conditions precedent set forth in Section 3 will not be satisfied on any date shall not the requested Funding Date for the applicable Borrowing unless such condition has been waived, or (2) the requested Borrowing would exceed the then-current Availability on such dateFunding Date.

Appears in 1 contract

Samples: Intercreditor Agreement (McClatchy Co)

Making of Revolving Loans. If (i) In the Borrower elects event that Swing Lender is not obligated to have make a Swing Loan, then after receipt of a request for a Borrowing pursuant to Section 2.3(a)(i), Agent shall notify the terms Lenders by telecopy, telephone, email, or other electronic form of this Section 2.4(etransmission, of the requested Borrowing; such notification to be sent on the Business Day or U.S. Government Securities Business Day, as applicable, that is (A) apply to a requested Revolving Credit Borrowing in the case of a Base Rate Loan or if the Agent receives a Notice of Borrowing for a Term Benchmark Loan or RFR Loans (if then applicable), then, promptly after receipt of the Notice of Borrowing with respect to such Revolving Base Rate Loan, Revolving Term Benchmark Loan at least one Business Day prior to the requested Funding Date, or Revolving RFR (B) in the case of a <LIBOR Rate>SOFR Loan, the Agent shall notify the Revolving Credit Lenders by telecopy, telephone or e-mail of prior to 2:00 p.m. at least three U.S. Government Securities Business Days prior to the requested BorrowingFunding Date. Each Revolving Credit If Agent has notified the Lenders of a requested Borrowing on the Business Day that is one Business Day prior to the Funding Date, then each Lender shall transfer its make the amount of such Xxxxxx's Pro Rata Share of the requested Borrowing available to the Agent in immediately available funds, to the account from time to time designated by the Agent's Account, not later than 12:00 noon (New York City time) 1:00 p.m. on the applicable Business Day that is the requested Funding Date; provided that on . After Agent's receipt of the Closing Date, proceeds of such funds may be made available at such earlier time as may be agreed among Revolving Loans from the relevant Lenders, the Borrower and the Agent for the purpose of consummating the Transactions. After the Agent’s receipt of all such amounts from the Lenders (or, in the event that a Defaulting Lender does not fund its portion of Loans, after the Agent receives such amounts from all other Lenders), the Agent shall make the aggregate of such amounts proceeds thereof available to the Borrower Borrowers on the applicable Funding Date by transferring same day immediately available funds equal to such proceeds received by Agent to the account(s) designated by the BorrowerDesignated Account; provided, howeverthat subject to the provisions of Section 2.3(d)(ii), that no Lender shall have an obligation to make any Revolving Loan, if (1) one or more of the amount of Revolving Loans so made applicable conditions precedent set forth in Section 3 will not be satisfied on any date shall not the requested Funding Date for the applicable Borrowing unless such condition has been waived, or (2) the requested Borrowing would exceed the then-current Availability on such dateFunding Date.

Appears in 1 contract

Samples: Credit Agreement (Liberty Energy Inc.)

Making of Revolving Loans. If (i) In the Borrower elects event that the Agent shall elect to have the terms of this Section 2.4(eSECTION 2.2(G) apply to a requested Revolving Credit Borrowing as described in SECTION 2.2(F), then promptly after receipt of a Base Rate Loan or if the Agent receives a Notice of Borrowing for a Term Benchmark Loan or RFR Loans (if then applicabletelephonic notice pursuant to SECTION 2.2(B), then, promptly after receipt of the Notice of Borrowing with respect to such Revolving Base Rate Loan, Revolving Term Benchmark Loan or Revolving RFR Loan, the Agent shall notify the Revolving Credit Lenders by telecopy, telephone or e-mail other similar form of transmission, of the requested Borrowing. Each Revolving Credit Lender shall transfer its make the amount of such Lender's Pro Rata Share of the requested Borrowing available to the Agent in immediately available funds, to such account of the account from time to time designated by Agent as the AgentAgent may designate, not later than 12:00 noon (New York City Atlanta time) on the Funding Date applicable Funding Date; provided that on the Closing Date, such funds may be made available at such earlier time as may be agreed among the relevant Lenders, the Borrower and the Agent for the purpose of consummating the Transactionsthereto. After the Agent’s 's receipt of all the proceeds of such amounts from the Lenders (or, in the event that a Defaulting Lender does not fund its portion of Revolving Loans, after the Agent receives such amounts from all other Lenders), the Agent shall make the aggregate proceeds of such amounts Revolving Loans available to the applicable Borrower on the applicable Funding Date by transferring same day funds equal to the account(s) designated proceeds of such Revolving Loans received by the Agent to the account of the applicable Borrower, designated in writing by the applicable Borrower and acceptable to the Agent; providedPROVIDED, howeverHOWEVER, that (A) the amount of Revolving Loans so made on any date shall not in no event exceed the then-current Availability for the applicable Borrower or Total Availability on such datedate and (B) each Borrower covenants and agrees that it will withdraw from the Loan Account or any other commingled account of the Borrowers into which Revolving Loans are funded only those Revolving Loans that are made to such Borrower upon its request hereunder.

Appears in 1 contract

Samples: Loan and Security Agreement (Worldtex Inc)

Making of Revolving Loans. If (i) In the Borrower elects event that Swing Lender is not obligated to have make a Swing Loan, then after receipt of a request for a Borrowing pursuant to Section 2.3(a)(i), Agent shall notify the terms Lenders by telecopy, telephone, email, or other electronic form of this Section 2.4(etransmission, of the requested Borrowing; such notification to be sent on the Business Day or U.S. Government Securities Business Day, as applicable, that is (A) apply to a requested Revolving Credit Borrowing in the case of a Base Rate Loan or if the Agent receives a Notice of Borrowing for a Term Benchmark Loan or RFR Loans (if then applicable), then, promptly after receipt of the Notice of Borrowing with respect to such Revolving Base Rate Loan, Revolving Term Benchmark Loan at least one Business Day prior to the requested Funding Date, or Revolving RFR (B) in the case of a SOFR Loan, the Agent shall notify the Revolving Credit Lenders by telecopy, telephone or e-mail of prior to 2:00 p.m. at least three U.S. Government Securities Business Days prior to the requested BorrowingFunding Date. Each Revolving Credit If Agent has notified the Lenders of a requested Borrowing on the Business Day that is one Business Day prior to the Funding Date, then each Lender shall transfer its make the amount of such Lender's Pro Rata Share of the requested Borrowing available to the Agent in immediately available funds, to the account from time to time designated by the Agent's Account, not later than 12:00 noon (New York City time) 1:00 p.m. on the applicable Business Day that is the requested Funding Date; provided that on . After Agent's receipt of the Closing Date, proceeds of such funds may be made available at such earlier time as may be agreed among Revolving Loans from the relevant Lenders, the Borrower and the Agent for the purpose of consummating the Transactions. After the Agent’s receipt of all such amounts from the Lenders (or, in the event that a Defaulting Lender does not fund its portion of Loans, after the Agent receives such amounts from all other Lenders), the Agent shall make the aggregate of such amounts proceeds thereof available to the Borrower Borrowers on the applicable Funding Date by transferring same day immediately available funds equal to such proceeds received by Agent to the account(s) designated by the BorrowerDesignated Account; provided, howeverthat subject to the provisions of Section 2.3(d)(ii), that no Lender shall have an obligation to make any Revolving Loan, if (1) one or more of the amount of Revolving Loans so made applicable conditions precedent set forth in Section 3 will not be satisfied on any date shall not the requested Funding Date for the applicable Borrowing unless such condition has been waived, or (2) the requested Borrowing would exceed the then-current Availability on such dateFunding Date.

Appears in 1 contract

Samples: Credit Agreement (Hudson Technologies Inc /Ny)

Making of Revolving Loans. If (i) In the Borrower elects event that Swing Lender is not obligated to have the terms of this Section 2.4(e) apply to make a requested Revolving Credit Borrowing of a Base Rate Loan or if the Agent receives a Notice of Borrowing for a Term Benchmark Loan or RFR Loans (if Swing Loan, then applicable), then, promptly after receipt of the Notice of a request for a Borrowing with respect pursuant to such Revolving Base Rate LoanSection 2.3(a), Revolving Term Benchmark Loan or Revolving RFR Loan, the Agent shall notify the Revolving Credit Lenders by telecopy, telephone telephone, email, or e-mail other electronic form of transmission, of the requested Borrowing; such notification to be sent on the Business Day that is 1 Business Day prior to the requested Funding Date. Each If Agent has notified the Revolving Credit Lenders of a requested Borrowing on the Business Day that is 1 Business Day prior to the Funding Date, then each Revolving Lender shall transfer its make the amount of such Revolving Lender’s Pro Rata Share of the requested Borrowing available to the Agent in immediately available funds, to the account from time to time designated by the Agent’s Account, not later than 12:00 noon (New York City time) 1:00 p.m. on the applicable Business Day that is the requested Funding Date; provided that on the Closing Date, such funds may be made available at such earlier time as may be agreed among the relevant Lenders, the Borrower and the Agent for the purpose of consummating the Transactions. After the Agent’s receipt of all the proceeds of such amounts Revolving Loans from the Lenders (orRevolving Lenders, in the event that a Defaulting Lender does not fund its portion of Loans, after the Agent receives such amounts from all other Lenders), the Agent shall make the aggregate of such amounts proceeds thereof available to the Borrower Borrowers on the applicable Funding Date by transferring same day immediately available funds equal to such proceeds received by Agent to the account(sDesignated Account; provided that, subject to the provisions of Section 2.3(d)(ii), no Revolving Lender shall have an obligation to make any Revolving Loan, if (1) designated by one or more of the Borrower; providedapplicable conditions precedent set forth in Section 3 will not be satisfied on the requested Funding Date for the applicable Borrowing unless such condition has been waived, however, that or (2) the amount of Revolving Loans so made on any date shall not requested Borrowing would exceed the then-current Availability on such dateFunding Date.

Appears in 1 contract

Samples: Credit Agreement (Us Xpress Enterprises Inc)

Making of Revolving Loans. If (i) In the event that any Borrower elects (or Administrative Borrower on behalf of such Borrower) requests a Borrowing and Swingline Lender is not obligated to have the terms of this Section 2.4(e) apply to make a requested Revolving Credit Borrowing of a Base Rate Loan or if the Agent receives a Notice of Borrowing for a Term Benchmark Loan or RFR Loans (if then applicable), then, promptly after receipt of the Notice of Borrowing with respect to such Revolving Base Rate Swing Loan, Revolving Term Benchmark Loan or Revolving RFR Loan, the Agent shall notify the Revolving Credit Lenders by telecopy, telephone telephone, email, or e-mail other electronic form of transmission, of the requested Borrowing; such notification to be sent on the Business Day that is at least 1 Business Day prior to the requested Funding Date. Each Revolving Credit If Agent has notified the Lenders of a requested Borrowing on the Business Day that is 1 Business Day prior to the Funding Date, then each Lender shall transfer its make the amount of such Lender’s Pro Rata Share of the requested Borrowing available to the Agent in immediately available funds, to the account from time to time designated by the Agent’s Account, not later than 12:00 noon (New York City time) 10:00 a.m. Local Time on the applicable Business Day that is the requested Funding Date; provided that on the Closing Date, such funds may be made available at such earlier time as may be agreed among the relevant Lenders, the Borrower and the Agent for the purpose of consummating the Transactions. After the Agent’s receipt of all the proceeds of such amounts Revolving Loans from the Lenders (orLenders, in the event that a Defaulting Lender does not fund its portion of Loans, after the Agent receives such amounts from all other Lenders), the Agent shall make the aggregate of such amounts proceeds thereof available to the Borrower Borrowers on the applicable Funding Date by transferring same day immediately available funds equal to such proceeds received by Agent to the account(s) designated by the Borrowerapplicable Designated Account; provided, howeverthat, that subject to the amount provisions of Section 2.3(d)(ii), no Lender shall have an obligation to make any Revolving Loans so made Loan, if (1) one or more of the applicable conditions precedent set forth in Section 3 will not be satisfied on any date shall not the requested Funding Date for the applicable Borrowing unless such condition has been waived, or (2) the requested Borrowing would exceed the then-current Availability on such dateFunding Date.

Appears in 1 contract

Samples: Credit Agreement (K Swiss Inc)

Making of Revolving Loans. If (i) In the Borrower elects event that Swing Lender is not obligated to have the terms of this Section 2.4(emake (or does not make) apply to a requested Revolving Credit Borrowing of a Base Rate Loan or if the Agent receives a Notice of Borrowing for a Term Benchmark Loan or RFR Loans (if Swing Loan, then applicable), then, promptly after receipt of the Notice of a request for a Borrowing with respect pursuant to such Revolving Base Rate LoanSection 2.3(a), Revolving Term Benchmark Loan or Revolving RFR Loan, the Agent shall notify the Revolving Credit Lenders by telecopy, telephone telephone, email, or e-mail other electronic form of transmission, of the requested Borrowing; such notification to be sent on the Business Day that is (y) three (3) Business Days prior to the requested Funding Date in the case of LIBOR Rate Loans and (z) one (1) Business Day prior to the requested Funding Date for Base Rate Loans. Each Revolving Credit If Agent has notified the Lenders of a requested Borrowing on the Business Day that is (y) three (3) Business Days prior to the requested Funding Date in the case of LIBOR Rate Loans and (z) one (1) Business Day prior to the requested Funding Date for Base Rate Loans, then each Lender shall transfer its make the amount of such Lender’s Pro Rata Share of the requested Borrowing available to the Agent in immediately available funds, to the account from time to time designated by the Agent’s Account, not later than 12:00 noon (New York City time) 10:00 a.m. on the applicable Business Day that is the requested Funding Date; provided that on the Closing Date, such funds may be made available at such earlier time as may be agreed among the relevant Lenders, the Borrower and the Agent for the purpose of consummating the Transactions. After the Agent’s receipt of all the proceeds of such amounts Revolving Loans from the Lenders (orLenders, in the event that a Defaulting Lender does not fund its portion of Loans, after the Agent receives such amounts from all other Lenders), the Agent shall make the aggregate of such amounts proceeds thereof available to the Borrower Borrowers on the applicable Funding Date by transferring same day immediately available funds equal to such proceeds received by Agent to the account(s) designated by the BorrowerDesignated Account; provided, howeverthat, that subject to the amount provisions of Section 2.3(d)(ii), no Lender shall have an obligation to make any Revolving Loans so made Loan, if (1) one or more of the applicable conditions precedent set forth in Section 3 will not be satisfied on any date shall not the requested Funding Date for the applicable Borrowing unless such condition has been waived, or (2) the requested Borrowing would exceed the then-current Availability on such dateFunding Date.

Appears in 1 contract

Samples: Credit Agreement (SeaSpine Holdings Corp)

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Making of Revolving Loans. If (i) In the Borrower elects event that Swing Lender is not obligated to have the terms of this Section 2.4(e) apply to make a requested Revolving Credit Borrowing of a Base Rate Swing Loan or if the Agent receives a Notice of Borrowing for Revolving Loan other than a Term Benchmark Swing Loan or RFR Loans (if is requested, then applicable), then, promptly after receipt of the Notice of a request for a Borrowing with respect pursuant to such Revolving Base Rate LoanSection 2.3(a), Revolving Term Benchmark Loan or Revolving RFR Loan, the Agent shall promptly notify the Revolving Credit Lenders by telecopy, telephone telephone, email, or e-mail other electronic form of transmission, of the requested Borrowing; provided that the borrowing of any LIBOR Rate Loans shall be subject to the provisions of Section 2.12; provided that no Notice of Borrowing shall be delivered to any Lender during the hours of 9:00 a.m. through 4:00 p.m., New York City time, on any Business Day. Each Revolving Credit Lender shall transfer its make the amount of such Lender’s Pro Rata Share of the requested Borrowing available to the Agent in immediately available funds, to the account from time to time designated by the Agent’s Account, not later than 12:00 noon (New York City time) 2:00 p.m. on the applicable Business Day that is the requested Funding Date; provided that on the Closing Date, such funds may be made available at such earlier time as may be agreed among the relevant Lenders, the Borrower and the Agent for the purpose of consummating the Transactions. After the Agent’s receipt of all the proceeds of such amounts Revolving Loans from the Lenders (orLenders, in the event that a Defaulting Lender does not fund its portion of Loans, after the Agent receives such amounts from all other Lenders), the Agent shall make the aggregate of such amounts proceeds thereof available to the applicable Borrower on the applicable Funding Date by transferring same day immediately available funds equal to the account(s) designated such proceeds received by the BorrowerAgent to a Designated Account; provided, howeverthat, that subject to the amount provisions of Section 2.3(d)(i), no Lender shall have an obligation to make any Revolving Loans so made Loan, if (1) one or more of the applicable conditions precedent set forth in Section 3 will not be satisfied on any date shall not the requested Funding Date for the applicable Borrowing unless such condition has been waived, or (2) the requested Borrowing would exceed the then-current Availability on such dateFunding Date.

Appears in 1 contract

Samples: Credit Agreement (Pernix Therapeutics Holdings, Inc.)

Making of Revolving Loans. If the Borrower elects to have the terms of this Section 2.4(e) apply to a requested Revolving Credit Borrowing of a Base Rate Loan or if the Agent receives a Notice of Borrowing for a LIBOR Term Benchmark Loan or RFR Loans (if then applicable)SOFR Loan, then, promptly after receipt of the Notice of Borrowing with respect to such Revolving Base Rate Loan, Revolving Term Benchmark Loan or Revolving RFR LIBOR Term SOFR Loan, the Agent shall notify the Revolving Credit Lenders by telecopy, telephone or e-mail of the requested Borrowing. Each Revolving Credit Lender shall transfer its Pro Rata Share of the requested Borrowing to the Agent in immediately available funds, to the account from time to time designated by the Agent, not later than 12:00 noon (New York City time) on the applicable Funding Date; provided that on the Closing Date, such funds may be made available at such earlier time as may be agreed among the relevant Lenders, the Borrower and the Agent for the purpose of consummating the Transactions. After the Agent’s receipt of all such amounts from the Lenders (or, in the event that a Defaulting Lender does not fund its portion of Loans, after the Agent receives such amounts from all other Lenders), the Agent shall make the aggregate of such amounts available to the Borrower on the applicable Funding Date by transferring same day funds to the account(s) designated by the Borrower; provided, however, that the amount of Revolving Loans so made on any date shall not exceed the then-current Availability on such date.

Appears in 1 contract

Samples: Credit Agreement (ProPetro Holding Corp.)

Making of Revolving Loans. If (i) In the Borrower elects event that Swing Lender is not obligated to have make a Swing Loan, then after receipt of a request for a Borrowing pursuant to Section 2.3(a)(i), Agent shall notify the terms Lenders by telecopy, telephone, email, or other electronic form of this Section 2.4(etransmission, of the requested Borrowing; such notification to be sent on the Business Day or U.S. Government Securities Business Day, as applicable, that is (A) apply to a requested Revolving Credit Borrowing in the case of a Base Rate Loan or if the Agent receives a Notice of Borrowing for a Term Benchmark Loan or RFR Loans (if then applicable), then, promptly after receipt of the Notice of Borrowing with respect to such Revolving Base Rate Loan, Revolving Term Benchmark Loan at least one Business Day prior to the requested Funding Date, or Revolving RFR (B) in the case of a LIBOR RateSOFR Loan, the Agent shall notify the Revolving Credit Lenders by telecopy, telephone or e-mail of prior to 12:00 noon11:00 a.m. at least three U.S. Government Securities Business Days prior to the requested BorrowingFunding Date. Each Revolving Credit If Agent has notified the Lenders of a requested Borrowing on the Business Day that is one Business Day prior to the Funding Date, then each Lender shall transfer its make the amount of such Lender’s Pro Rata Share of the requested Borrowing available to the Agent in immediately available funds, to the account from time to time designated by the Agent’s Account, not later than 12:00 noon (New York City time) noon10:00 a.m. on the applicable Business Day that is the requested Funding Date; provided that on the Closing Date, such funds may be made available at such earlier time as may be agreed among the relevant Lenders, the Borrower and the Agent for the purpose of consummating the Transactions. After the Agent’s receipt of all the proceeds of such amounts Revolving Loans from the Lenders (orLenders, in the event that a Defaulting Lender does not fund its portion of Loans, after the Agent receives such amounts from all other Lenders), the Agent shall make the aggregate of such amounts proceeds thereof available to the Borrower Borrowers on the applicable Funding Date by transferring same day immediately available funds equal to such proceeds received by Agent to the account(s) designated by the BorrowerDesignated Account; provided, howeverthat subject to the provisions of Section 2.3(d)(ii), that no Lender shall have an obligation to make any Revolving Loan, if (1) one or more of the amount of Revolving Loans so made applicable conditions precedent set forth in Section 3 will not be satisfied on any date shall not the requested Funding Date for the applicable Borrowing unless such condition has been waived, or (2) the requested Borrowing would exceed the then-current Availability on such dateFunding Date.

Appears in 1 contract

Samples: Credit Agreement (Kaiser Aluminum Corp)

Making of Revolving Loans. If the Borrower elects to have the terms (i) Promptly after receipt of this Section 2.4(e) apply to a requested Revolving Credit Borrowing of a Base Rate Loan or if the Agent receives a Notice of Borrowing for a Term Benchmark under Section 2.01(b) (or telephonic notice in lieu thereof) and in the event that the Swing Loan or RFR Loans (if then applicable), then, promptly after receipt of Lender is not making the principal amount requested under such Notice of Borrowing with respect available to such Revolving Base Rate Loan, Revolving Term Benchmark Loan or Revolving RFR the Borrowers as a Swing Loan, the Administrative Agent shall notify the Revolving Credit Lenders each Lender by telex or telecopy, telephone or e-mail other similar form of transmission, of the requested proposed Borrowing. Each Revolving Credit Lender shall transfer deposit an amount equal to its Pro Rata Share of the amount requested Borrowing to by the Borrowers with the Administrative Agent at its office in New York, New York, in immediately available funds, to (A) on the account from time to time designated by Closing Date specified in the Agent, initial Notice of Borrowing and (B) not later than 12:00 noon 2:00 p.m. (New York City time) on the any other Funding Date applicable Funding Date; provided that on the Closing Date, such funds may be made available at such earlier time as may be agreed among the relevant Lenders, the Borrower and the Agent for the purpose of consummating the Transactionsthereto. After the Agent’s receipt of all such amounts from the Lenders (or, in the event that a Defaulting Lender does not fund its portion of Loans, after the Agent receives such amounts from all other Lenders), the The Administrative Agent shall make the aggregate proceeds of such amounts received by it available to the Borrower Borrowers at the Administrative Agent's office in New York, New York on such Funding Date (or on the date received if later than such Funding Date) and shall disburse such proceeds to the Borrowers by transferring such proceeds to the Borrowers' Account. The failure of any Lender to deposit the amount described above with the Administrative Agent on the applicable Funding Date by transferring same day funds to the account(s) designated by the Borrower; provided, however, that the amount of Revolving Loans so made on any date shall not exceed the then-current Availability relieve any other Lender of its obligations hereunder to make its Revolving Loan on such dateFunding Date. No Lender shall be responsible for any failure by any other Lender to perform its obligation to make a Revolving Loan hereunder nor shall the Commitment of any Lender be increased or decreased as a result of any such failure.

Appears in 1 contract

Samples: Credit Agreement (Barneys New York Inc)

Making of Revolving Loans. If (i) In the Borrower elects event that Swing Lender is not obligated to have make a Swing Loan, then after receipt of a request for a Borrowing pursuant to Section 2.3(a)(i), Agent shall notify the terms Lenders by telecopy, telephone, email, or other electronic form of this Section 2.4(etransmission, of the requested Borrowing; such notification to be sent on the Business Day or U.S. Government Securities Business Day, as applicable, that is (A) apply to a requested Revolving Credit Borrowing in the case of a Base Rate Loan or if the Agent receives a Notice of Borrowing for a Term Benchmark Loan or RFR Loans (if then applicable), then, promptly after receipt of the Notice of Borrowing with respect to such Revolving Base Rate Loan, Revolving Term Benchmark Loan at least one Business Day prior to the requested Funding Date, or Revolving RFR (B) in the case of a SOFR Loan, the Agent shall notify the Revolving Credit Lenders by telecopy, telephone or e-mail of prior to 1:00 p.m. at least three U.S. Government Securities Business Days prior to the requested BorrowingFunding Date. Each Revolving Credit If Agent has notified the Lenders of a requested Borrowing on the Business Day that is one Business Day prior to the Funding Date, then each Lender shall transfer its make the amount of such Xxxxxx’s Pro Rata Share of the requested Borrowing available to the Agent in immediately available funds, to the account from time to time designated by the Agent’s Account, not later than 12:00 noon (New York City time) on the applicable Business Day that is the requested Funding Date; provided that on the Closing Date, such funds may be made available at such earlier time as may be agreed among the relevant Lenders, the Borrower and the Agent for the purpose of consummating the Transactions. After the Agent’s receipt of all the proceeds of such amounts Revolving Loans from the Lenders (orLenders, in the event that a Defaulting Lender does not fund its portion of Loans, after the Agent receives such amounts from all other Lenders), the Agent shall make the aggregate of such amounts proceeds thereof available to the Borrower Borrowers on the applicable Funding Date by transferring same day immediately available funds equal to such proceeds received by Agent to the account(s) designated by the BorrowerDesignated Account; provided, howeverthat subject to the provisions of Section 2.3(d)(ii), no Lender shall have an obligation to make any Revolving Loan, if (1) one or more of the applicable conditions precedent set forth in Section 3 will not be satisfied on the requested Funding Date for the applicable Borrowing unless such condition has been waived, or (2) the requested Borrowing would exceed the Availability on such Funding Date. (ii) Unless Agent receives notice from a Lender prior to 11:30 a.m. on the Business Day that is the requested Funding Date relative to a requested Borrowing as to which Agent has notified the Lenders of a requested Borrowing that such Xxxxxx will not make avail able as and when required hereunder to Agent for the account of Borrowers the amount of Revolving Loans so that Xxxxxx’s Pro Rata Share of the Borrowing, Agent may assume that each Lender has made or will make such amount available to Agent in immediately available funds on any date the Funding Date and Agent may (but shall not exceed be so required), in reliance upon such assumption, make available to Borrowers a corresponding amount. If, on the then-current Availability requested Funding Date, any Lender shall not have remitted the full amount that it is required to make available to Agent in immediately available funds and if Agent has made available to Borrowers such amount on the requested Funding Date, then such Lender shall make the amount of such Xxxxxx’s Pro Rata Share of the requested Borrowing available to Agent in immediately available funds, to Agent’s Account, no later than noon on the Business Day that is the first Business Day after the requested Funding Date (in which case, the interest accrued on such date.Xxxxxx’s portion of such Borrowing for the Funding Date shall be for Agent’s separate account). If any Lender shall

Appears in 1 contract

Samples: Credit Agreement (Nautilus, Inc.)

Making of Revolving Loans. If (i) In the Borrower elects event that Applicable Swing Lender is not obligated to have the terms of this Section 2.4(e) apply to make a requested Revolving Credit Borrowing of a Base Rate Loan or if the Agent receives a Notice of Borrowing for a Term Benchmark Loan or RFR Loans (if Swing Loan, then applicable), then, promptly after receipt of the Notice of a request for a Borrowing with respect pursuant to such Revolving Base Rate LoanSection 2.3(a), Revolving Term Benchmark Loan or Revolving RFR Loan, the Applicable Agent shall notify the Revolving Credit Applicable Lenders by telecopy, telephone telephone, email, or e-mail other electronic form of transmission, of the requested BorrowingBorrowing (and whether such Borrowing is for the account of US Borrowers or Canadian Borrowers); such notification to be sent on the Business Day that is 1 Business Day prior to the requested Funding Date. Each Revolving Credit If Applicable Agent has notified the Lenders of a requested Borrowing on the Business Day that is 1 Business Day prior to the Funding Date, then each Applicable Lender shall transfer its make the amount of such Lender's Pro Rata Share of the requested Borrowing available to the Applicable Agent in immediately available funds, to the account from time to time designated by the Applicable Agent's Account, not later than 12:00 noon (New York City time) 10:00 a.m. on the applicable Business Day that is the requested Funding Date; provided that on . After Applicable Agent's receipt of the Closing Date, proceeds of such funds may be made available at such earlier time as may be agreed among Revolving Loans from the relevant Lenders, the Borrower and the Agent for the purpose of consummating the Transactions. After the Agent’s receipt of all such amounts from the Lenders (or, in the event that a Defaulting Lender does not fund its portion of Loans, after the Agent receives such amounts from all other Lenders), the Applicable Agent shall make the aggregate of such amounts proceeds thereof available to the Applicable Borrower on the applicable Funding Date by transferring same day immediately available funds equal to such proceeds received by Applicable Agent to the account(s) designated by the Borrowerapplicable Designated Account; provided, howeverthat, that subject to the amount provisions of Section 2.3(d)(ii), no Lender shall have an obligation to make any Revolving Loans so made Loan, if (1) one or more of the applicable conditions precedent set forth in Section 3 will not be satisfied on any date shall not the requested Funding Date for the applicable Borrowing unless such condition has been waived, or (2) the requested Borrowing would exceed US Availability (in the then-current case of a US Borrowing) or Canadian Availability (in the case of a Canadian Borrowing) on such dateFunding Date.

Appears in 1 contract

Samples: Credit Agreement (Upland Software, Inc.)

Making of Revolving Loans. If (i) In the Borrower elects event a Revolving Loan that is not a Swing Loan is requested, or in the event that a Swing Loan is requested but Swing Lender is not obligated or willing to have the terms of this Section 2.4(e) apply to make a requested Revolving Credit Borrowing of a Base Rate Loan or if the Agent receives a Notice of Borrowing for a Term Benchmark Loan or RFR Loans (if Swing Loan, then applicable), then, promptly after receipt of the Notice of a request for a Borrowing with respect pursuant to such Revolving Base Rate LoanSection 2.3(a), Revolving Term Benchmark Loan or Revolving RFR Loan, the Agent shall notify the Revolving Credit Lenders by telecopy, telephone telephone, email, or e-mail other electronic form of transmission, of the requested Borrowing; such notification to be sent on the Business Day that is 1 Business Day prior to the requested Funding Date. Each Revolving Credit If Agent has notified the Lenders of a requested Borrowing on the Business Day that is 1 Business Day prior to the Funding Date, then each Lender shall transfer its make the amount of such Lender’s Pro Rata Share of the requested Borrowing available to the Agent in immediately available funds, to the account from time to time designated by the Agent’s Account, not later than 12:00 noon (New York City time) 11:00 a.m. on the applicable Business Day that is the requested Funding Date; provided that on the Closing Date, such funds may be made available at such earlier time as may be agreed among the relevant Lenders, the Borrower and the Agent for the purpose of consummating the Transactions. After the Agent’s receipt of all the proceeds of such amounts Revolving Loans from the Lenders (orLenders, in the event that a Defaulting Lender does not fund its portion of Loans, after the Agent receives such amounts from all other Lenders), the Agent shall make the aggregate of such amounts proceeds thereof available to the Borrower on the applicable Funding Date by transferring same day immediately available funds equal to such proceeds received by Agent to the account(s) designated by the BorrowerDesignated Account; provided, howeverthat, that subject to the amount provisions of Section 2.3(d)(ii), no Lender shall have an obligation to make any Revolving Loans so made Loan, if (1) one or more of the applicable conditions precedent set forth in Section 3 will not be satisfied on any date shall not the requested Funding Date for the applicable Borrowing unless such condition has been waived, or (2) the requested Borrowing would exceed the then-current Availability on such dateFunding Date.

Appears in 1 contract

Samples: Credit Agreement (Diamond Foods Inc)

Making of Revolving Loans. If (i) In the Borrower elects event that Swing Lender is not obligated to have the terms of this Section 2.4(e) apply to make a requested Revolving Credit Borrowing of a Base Rate Loan or if the Agent receives a Notice of Borrowing for a Term Benchmark Loan or RFR Loans (if Swing Loan, then applicable), then, promptly after receipt of the Notice of a request for a Borrowing with respect pursuant to such Revolving Base Rate LoanSection 2.3(a)(i), Revolving Term Benchmark Loan or Revolving RFR Loan, the Agent shall notify the Revolving Credit Lenders by telecopy, telephone telephone, email, or e-mail other electronic form of transmission, of the requested Borrowing; such notification to be sent prior to 1:00 pm. Each Revolving Credit at least one Business Day prior to the requested Funding Date. If Agent has notified the Lenders of a requested Borrowing on the Business Day that is one Business Day prior to the Funding Date, then each Lender shall transfer its make the amount of such Xxxxxx's Pro Rata Share of the requested Borrowing available to the Agent in immediately available funds, to the account from time to time designated by the Agent's Account, not later than 12:00 noon (New York City time) p.m. on the applicable Business Day that is the requested Funding Date; provided that on . After Agent's receipt of the Closing Date, proceeds of such funds may be made available at such earlier time as may be agreed among Revolving Loans from the relevant Lenders, the Borrower and the Agent for the purpose of consummating the Transactions. After the Agent’s receipt of all such amounts from the Lenders (or, in the event that a Defaulting Lender does not fund its portion of Loans, after the Agent receives such amounts from all other Lenders), the Agent shall make the aggregate of such amounts proceeds thereof available to the Borrower Borrowers on the applicable Funding Date by transferring same day immediately available funds equal to such proceeds received by Agent to the account(s) designated by the BorrowerDesignated Account; provided, howeverthat subject to the provisions of Section 2.3(d)(ii), no Lender shall have an obligation to make any Revolving Loan, if (1) one or more of the applicable conditions precedent set forth in Section 3 will not be satisfied on the requested Funding Date for the applicable Borrowing unless such condition has been waived, or (2) the requested Borrowing would exceed the Availability on such Funding Date. (ii) Unless Agent receives notice from a Lender prior to 11:30 a.m. on the Business Day that is the requested Funding Date relative to a requested Borrowing as to which Agent has notified the Lenders of a requested Borrowing that such Lender will not make available as and when required hereunder to Agent for the account of Borrowers the amount of Revolving Loans so that Xxxxxx's Pro Rata Share of the Borrowing, Agent may assume that each Lender has made or will make such amount available to Agent in immediately available funds on any date the Funding Date and Agent may (but shall not exceed be so required), in reliance upon such assumption, make available to Borrowers a corresponding amount. If, on the then-current Availability requested Funding Date, any Lender shall not have remitted the full amount that it is required to make available to Agent in immediately available funds and if Agent has made available to Borrowers such amount on the requested Funding Date, then such Lender shall make the amount of such Xxxxxx's Pro Rata Share of the requested Borrowing available to Agent in immediately available funds, to Agent's Account, no later than 12:00 p.m. on the Business Day that is the first Business Day after the requested Funding Date (in which case, the interest accrued on such date.Xxxxxx's portion of such Borrowing for the Funding Date shall be for Agent's separate account). If any Lender shall not remit the full amount that it is required to make available to Agent in immediately available funds as and when required hereby and if Agent has made available to Borrowers such amount, then that Lender shall be obligated to immediately remit such amount to Agent, together with interest at the Defaulting Lender Rate for each day until the date on which such amount is so remitted. A notice submitted by Agent to any Lender with respect to amounts owing

Appears in 1 contract

Samples: Credit Agreement (Ranger Energy Services, Inc.)

Making of Revolving Loans. If (i) In the Borrower elects event that Swing Lender is not obligated to have the terms of this Section 2.4(e) apply to make a requested Revolving Credit Borrowing of a Base Rate Loan or if the Agent receives a Notice of Borrowing for a Term Benchmark Loan or RFR Loans (if Swing Loan, then applicable), then, promptly after receipt of the Notice of a request for a Borrowing with respect pursuant to such Revolving Base Rate LoanSection 2.3(a), Revolving Term Benchmark Loan or Revolving RFR Loan, the Agent shall notify the Revolving Credit Lenders by telecopy, telephone telephone, email, or e-mail other electronic form of transmission, of the requested Borrowing; such notification to be sent on the Business Day that is 1 Business Day prior to the requested Funding Date. Each Revolving Credit If Agent has notified the Lenders of a requested Borrowing on the Business Day that is 1 Business Day prior to the Funding Date, then each Lender shall transfer its make the amount of such Lender’s Pro Rata Share of the requested Borrowing available to the Agent in immediately available funds, to the account from time to time designated by the Agent’s Account, not later than 12:00 noon (New York City time) on the applicable Business Day that is the requested Funding Date; provided that on the Closing Date, such funds may be made available at such earlier time as may be agreed among the relevant Lenders, the Borrower and the Agent for the purpose of consummating the Transactions. After the Agent’s receipt of all the proceeds of such amounts Revolving Loans from the Lenders (orLenders, in the event that a Defaulting Lender does not fund its portion of Loans, after the Agent receives such amounts from all other Lenders), the Agent shall make the aggregate of such amounts proceeds thereof available to the Administrative Borrower on behalf of each applicable Borrower on the applicable Funding Date by transferring same day immediately available funds equal to such proceeds received by Agent to the account(s) designated by the BorrowerDesignated Account; provided, howeverthat, that subject to the amount provisions of Section 2.3(d)(ii), no Lender shall have an obligation to make any Revolving Loans so made Loan, if (1) one or more of the applicable conditions precedent set forth in Section 3 will not be satisfied on any date shall not the requested Funding Date for the applicable Borrowing unless such condition has been waived, or (2) the requested Borrowing would exceed the then-current Availability on such dateFunding Date.

Appears in 1 contract

Samples: Credit Agreement (General Finance CORP)

Making of Revolving Loans. If In the Borrower elects event that the Agent shall elect to have the terms of this Section 2.4(eSECTION 2.2(G) apply to a requested Revolving Credit Borrowing as described in SECTION 2.2(F), then promptly after receipt of a Base Rate Loan or if the Agent receives a Notice of Borrowing for a Term Benchmark Loan or RFR Loans (if then applicabletelephonic notice pursuant to SECTION 2.2(B), then, promptly after receipt of the Notice of Borrowing with respect to such Revolving Base Rate Loan, Revolving Term Benchmark Loan or Revolving RFR Loan, the Agent shall notify the Revolving Credit Lenders by telecopy, telephone telephone, or e-mail other similar form of transmission, of the requested Borrowing. Each Revolving Credit Lender shall transfer its make the amount of such Lender's Pro Rata Share of the requested Borrowing available to the Agent in immediately available funds, to such account of the account from time to time designated by Agent as the AgentAgent may designate, not later than 12:00 noon 2:00 p.m., (New York City Dallas, Texas time) on the Funding Date applicable Funding Date; provided that on the Closing Date, such funds may be made available at such earlier time as may be agreed among the relevant Lenders, the Borrower and the Agent for the purpose of consummating the Transactionsthereto. After the Agent’s 's receipt of all the proceeds of such amounts from the Lenders (or, in the event that a Defaulting Lender does not fund its portion of Revolving Loans, after upon satisfaction of the Agent receives such amounts from all other Lenders)applicable conditions precedent set forth in ARTICLE 10, the Agent shall make the aggregate proceeds of such amounts Revolving Loans available to the applicable Borrower or Borrowers on the applicable Funding Date by transferring same day funds equal to the account(s) designated proceeds of such Revolving Loans received by the BorrowerAgent to the account designated pursuant to SECTION 2.2(C)(I) or disbursing such funds in such other manner as the Borrower requesting such Borrowing may direct to the Agent; providedPROVIDED, howeverHOWEVER, that the amount of Revolving Loans so made on any date shall in no event result in Availability of less than zero Dollars ($0.00). Unless the Agent receives notice from a Lender on or prior to the Closing Date or, with respect to any Borrowing after the Closing Date, at least one Business Day prior to the date of such Borrowing, that such Lender will not exceed make available as and when required hereunder to the then-current Availability Agent for the account of the Borrowers the amount of that Lender's Pro Rata Share of the Borrowing, the Agent may assume that each Lender has made such amount available to the Agent in immediately available funds on the Funding Date and the Agent may (but shall not be so required), in reliance upon such assumption, make available to the Borrower on such datedate a corresponding amount. If and to the extent any Lender shall not have made its full amount available to the Agent in immediately available funds and the Agent in such circumstances has made available to the applicable Borrower or Borrowers such amount, that Lender shall on the Business Day following such Funding Date make such amount available to the Agent, together with interest at the Federal Funds Rate for each day during such period. A notice by the Agent submitted to any Lender with respect to amounts owing under this subsection shall be conclusive, absent manifest error. If such amount is so made available, such payment to the Agent shall constitute such Lender's Revolving Loan for all purposes of this Agreement. If such amount is not made available to the Agent on the Business Day following the Funding Date, the Agent will notify the Borrowers of such failure to fund and, upon demand by the Agent, the Borrowers shall pay such amount to the Agent for the Agent's account, together with interest thereon for each day elapsed since the date of such Borrowing, at a rate per annum equal to the Interest Rate applicable at the time to the Revolving Loans comprising such Borrowing. The failure of any Lender to make any Revolving Loan on any Funding Date (any such Lender, prior to the cure of such failure, being hereinafter referred to as a "DEFAULTING Lender") shall not relieve any other Lender of any obligation hereunder to make a Revolving Loan on such Funding Date, but no Lender shall be responsible for the failure of any other Lender to make the Revolving Loan to be made by such other Lender on any Funding Date. The Agent shall not be obligated to transfer to a Defaulting Lender any payments made by any Borrower to the Agent for the Defaulting Lender's benefit; nor shall a Defaulting Lender be entitled to the sharing of any payments hereunder. Amounts payable to a Defaulting Lender shall instead be paid to or retained by the Agent. The Agent may hold and, in its discretion, re-lend to any Borrower the amount of all such payments received or retained by it for the account of such Defaulting Lender. Any amounts so re-lent to a Borrower shall bear interest at the rate applicable to Base Rate Revolving Loans and for all other purposes of this Agreement shall be treated as if they were Revolving Loans, PROVIDED, HOWEVER, that for purposes of voting or consenting to matters with respect to the Loan Documents and determining Pro Rata Shares, such Defaulting Lender shall be deemed not to be a "Lender". Until a Defaulting Lender cures its failure to fund its Pro Rata Share of any Borrowing (A) such Defaulting Lender shall not be entitled to any portion of the Unused Line Fee and (B) the Unused Line Fee shall accrue in favor of the Lenders which have funded their respective Pro Rata Shares of such requested Borrowing and shall be allocated among such performing Lenders ratably based upon their relative Commitments. This Section shall remain effective with respect to such Lender until such time as the Defaulting Lender shall no longer be in default of any of its obligations under this Agreement. The terms of this Section shall not be construed to increase or otherwise affect the Commitment of any Lender, or relieve or excuse the performance by any Borrower of its duties and obligations hereunder.

Appears in 1 contract

Samples: Loan and Security Agreement (Pentacon Inc)

Making of Revolving Loans. If (i) In the Borrower elects event that the Agent shall elect to have the terms of this Section 2.4(e2.2(g) apply to a requested Revolving Credit Borrowing as described in Section 2.2(f), then promptly after receipt of a Base Rate Loan or if the Agent receives a Notice of Borrowing for a Term Benchmark Loan or RFR Loans (if then applicabletelephonic notice pursuant to Section 2.2(b), then, promptly after receipt of the Notice of Borrowing with respect to such Revolving Base Rate Loan, Revolving Term Benchmark Loan or Revolving RFR Loan, the Agent shall notify the Revolving Credit Lenders by telecopyfacsimile transmission, telephone or e-mail other similar form of transmission, of the requested Borrowing. Each Revolving Credit Lender shall transfer its make the amount of such Lender's Pro Rata Share of the requested Borrowing available to the Agent in immediately available same day funds, to such account of the account from time to time designated by Agent as the AgentAgent may designate, not later than 12:00 noon Noon (New York City Chicago time) on the Funding Date applicable Funding Date; provided that on the Closing Date, such funds may be made available at such earlier time as may be agreed among the relevant Lenders, the Borrower and the Agent for the purpose of consummating the Transactionsthereto. After the Agent’s 's receipt of all the proceeds of such amounts from the Lenders (or, in the event that a Defaulting Lender does not fund its portion of Revolving Loans, after upon satisfaction of the Agent receives such amounts from all other Lenders)applicable conditions precedent set forth in Article 10, the Agent shall make the aggregate proceeds of such amounts Revolving Loans available to the Borrower on the applicable Funding Date by transferring same day funds equal to the account(s) proceeds of such Revolving Loans received by the Agent to the account of the Borrower, designated in writing by the Borrower; provided, however, that the amount of Revolving Loans so made on any date shall not in no event exceed the then-current Revolver Availability of the Borrower on such date. (ii) Unless the Agent receives notice from a Lender on or prior to the Closing Date or, with respect to any Borrowing after the Closing Date, at least one Business Day prior to the date of such Borrowing, that such Lender will not make available as and when required hereunder to the Agent for the account of the Borrower the amount of that Lender's Pro Rata Share of the Borrowing, the Agent may assume that each Lender has made such amount available to the Agent in immediately available funds on the Funding Date and the Agent may (but shall not be so required), in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent any Lender shall not have made its full amount available to the Agent in immediately available funds and the Agent in such circumstances has made available to the Borrower such amount, that Lender shall on the Business Day following such Funding Date make such amount available to the Agent, together with interest at the Federal Funds Rate for each day during such period. A notice of the Agent submitted to any Lender with respect to amounts owing under this subsection shall be conclusive, absent manifest error. If such amount is so made available, such payment to the Agent shall constitute such Lender's Loan on the date of Borrowing for all purposes of this Agreement. If such amount is not made available to the Agent on the Business Day following the Funding Date, the Agent will notify the Borrower of such failure to fund and, upon demand by the Agent, the Borrower shall pay such amount to the Agent for the Agent's account, together with interest thereon for each day elapsed since the date of such Borrowing, at a rate per annum equal to the interest rate applicable at the time to the Loans comprising such Borrowing. The failure of any Lender to make any Loan on any Funding Date shall not relieve any other Lender of any obligation hereunder to make a Loan on such Funding Date, but no Lender shall be responsible for the failure of any other Lender to make the Loan to be made by such other Lender on any Funding Date.

Appears in 1 contract

Samples: Loan and Security Agreement (LDM Technologies Co)

Making of Revolving Loans. If (i) In the Borrower elects event that the applicable Swing Lender is not obligated to have make a Swing Loan, then after receipt of a request for a Borrowing pursuant to Section 2.3(a), Agent shall notify the terms applicable Lenders by telecopy, telephone, email, or other electronic form of this Section 2.4(e) apply transmission, of the requested Borrowing and whether such Borrowing is for the account of US Borrowers or for the account of Canadian Borrower; such notification to be sent on the Business Day that is the requested Funding Date in the case of a requested Revolving Credit US Borrowing of or a Canadian Borrowing that is a Base Rate Loan or if and 2 Business Days prior to the Agent receives requested Funding Date in the case of a Notice of Borrowing for a Term Benchmark Loan or RFR Loans (if then applicable), then, promptly after receipt of the Notice of Borrowing with respect to such Revolving Non-Base Rate Loan. If Agent has timely notified the Lenders of a requested Borrowing as provided above, Revolving Term Benchmark Loan or Revolving RFR Loan, then each Lender with the Agent applicable Revolver Commitment shall notify make the Revolving Credit Lenders by telecopy, telephone or e-mail amount of the requested Borrowing. Each Revolving Credit Lender shall transfer its such Lender's Pro Rata Share of the requested Borrowing available to the Agent in immediately available fundsfunds in the Applicable Currency, to the account from time to time designated by the Agent's Applicable Account, not later than 12:00 noon (New York City time) 10:00 a.m. on the applicable Business Day that is the requested Funding Date; provided that on . After Agent's receipt of the Closing Date, proceeds of such funds may be made available at such earlier time as may be agreed among Revolving Loans from the relevant Lenders, the Borrower and the Agent for the purpose of consummating the Transactions. After the Agent’s receipt of all such amounts from the Lenders (or, in the event that a Defaulting Lender does not fund its portion of Loans, after the Agent receives such amounts from all other Lenders), the Agent shall make the aggregate of such amounts proceeds thereof available to the Borrower US Borrowers or Canadian Borrower, as applicable, on the applicable Funding Date by transferring same day immediately available funds in the Applicable Currency equal to such proceeds received by Agent to the account(s) designated by US Designated Account or the BorrowerCanadian Designated Account, as applicable; provided, howeverthat, that subject to the amount provisions of Section 2.3(d)(ii), no Lender shall have an obligation to make any Revolving Loans so made Loan, if (1) one or more of the applicable conditions precedent set forth in Section 3 will not be satisfied on any date shall not the requested Funding Date for the applicable Borrowing unless such condition has been waived, or (2) the requested Borrowing would exceed the then-current US Availability (in the case of a US Borrowing) or Canadian Availability (in the case of a Canadian Borrowing) on such dateFunding Date.

Appears in 1 contract

Samples: Credit Agreement (Kronos Worldwide Inc)

Making of Revolving Loans. If (i) After receipt of a request for a Borrowing pursuant to Section 2.3(a)(i), Agent shall notify the Borrower elects Lenders by telecopy, telephone, email, or other electronic form of transmission, of the requested Borrowing; such notification to have be sent on the terms of this Section 2.4(eBusiness Day that is (A) apply to a requested Revolving Credit Borrowing in the case of a Base Rate Loan Loan, at least one Business Day prior to the requested Funding Date, or if (B) in the Agent receives case of a Notice of Borrowing for a Term Benchmark Loan or RFR Loans (if then applicable), then, promptly after receipt of the Notice of Borrowing with respect to such Revolving Base LIBOR Rate Loan, Revolving Term Benchmark Loan or Revolving RFR Loan, the Agent shall notify the Revolving Credit Lenders by telecopy, telephone or e-mail of prior to 2:00 p.m. at least three Business Days prior to the requested BorrowingFunding Date. Each Revolving Credit If Agent has notified the Lenders of a requested Borrowing on the Business Day that is one Business Day prior to the Funding Date, then each Lender shall transfer its make the amount of such Lender’s Pro Rata Share of the requested Borrowing available to the Agent in immediately available funds, to the account from time to time designated by the Agent’s Account, not later than 12:00 noon (New York City time) 1:00 p.m. on the applicable Business Day that is the requested Funding Date; provided that on the Closing Date, such funds may be made available at such earlier time as may be agreed among the relevant Lenders, the Borrower and the Agent for the purpose of consummating the Transactions. After the Agent’s receipt of all the proceeds of such amounts Revolving Loans from the Lenders (orLenders, in the event that a Defaulting Lender does not fund its portion of Loans, after the Agent receives such amounts from all other Lenders), the Agent shall make the aggregate of such amounts proceeds thereof available to the Borrower Borrowers on the applicable Funding Date by transferring same day immediately available funds equal to such proceeds received by Agent to the account(s) designated by the BorrowerDesignated Account; provided, howeverthat subject to the provisions of Section 2.3(d)(ii), no Lender shall have an obligation to make any Revolving Loan, if (1) one or more of the applicable conditions precedent set forth in Section 3 will not be satisfied on the requested Funding Date for the applicable Borrowing unless such condition has been waived, or (2) the requested Borrowing would exceed the Availability on such Funding Date. (ii) Unless Agent receives notice from a Lender prior to 12:30 p.m. on the Business Day that is the requested Funding Date relative to a requested Borrowing as to which Agent has notified the Lenders of a requested Borrowing that such Lender will not make available as and when required hereunder to Agent for the account of Borrowers the amount of Revolving Loans so that Lender’s Pro Rata Share of the Borrowing, Agent may assume that each Lender has made or will make such amount available to Agent in immediately available funds on any date the Funding Date and Agent may (but shall not exceed be so required), in reliance upon such assumption, make available to Borrowers a corresponding amount. If, on the then-current Availability requested Funding Date, any Lender shall not have remitted the full amount that it is required to make available to Agent in immediately available funds and if Agent has made available to Borrowers such amount on the requested Funding Date, then such Lender shall make the amount of such Lender’s Pro Rata Share of the requested Borrowing available to Agent in immediately available funds, to Agent’s Account, no later than 1:00 p.m. on the Business Day that is the first Business Day after the requested Funding Date (in which case, the interest accrued on such date.Lender’s portion of such Borrowing for the Funding Date shall be for Agent’s separate account). If any Lender shall not remit the full amount that it is required to make available to Agent in immediately available funds as and when required hereby and if Agent has made available to Borrowers such amount, then that Lender shall be obligated to immediately remit such amount to Agent, together with interest at the Defaulting Lender Rate for each day until the

Appears in 1 contract

Samples: Credit Agreement (BlueLinx Holdings Inc.)

Making of Revolving Loans. If (i) In the Borrower elects event that Swing Lender is not obligated to have make a Swing Loan, then after receipt of a request for a Borrowing pursuant to Section 2.3(a)(i), Agent shall notify the terms Lenders by telecopy, telephone, email, or other electronic form of this Section 2.4(etransmission, of the requested Borrowing; such notification to be sent on the Business Day or U.S. Government Securities Business Day, as applicable, that is (A) apply to a requested Revolving Credit Borrowing in the case of a Base Rate Loan or if the Agent receives a Notice of Borrowing for a Term Benchmark Loan or RFR Loans (if then applicable), then, promptly after receipt of the Notice of Borrowing with respect to such Revolving Base Rate Loan, Revolving Term Benchmark Loan at least one Business Day prior to the requested Funding Date, or Revolving RFR (B) in the case of a SOFR Loan, the Agent shall notify the Revolving Credit Lenders by telecopy, telephone or e-mail of prior to 1:00 p.m. at least three U.S. Government Securities Business Days prior to the requested BorrowingFunding Date. Each Revolving Credit If Agent has notified the Lenders of a requested Borrowing on the Business Day that is one Business Day prior to the Funding Date, then each Lender shall transfer its make the amount of such Xxxxxx’s Pro Rata Share of the requested Borrowing available to the Agent in immediately available funds, to the account from time to time designated by the Agent’s Account, not later than 12:00 noon (New York City time) on the applicable Business Day that is the requested Funding Date; provided that on the Closing Date, such funds may be made available at such earlier time as may be agreed among the relevant Lenders, the Borrower and the Agent for the purpose of consummating the Transactions. After the Agent’s receipt of all the proceeds of such amounts Revolving Loans from the Lenders (orLenders, in the event that a Defaulting Lender does not fund its portion of Loans, after the Agent receives such amounts from all other Lenders), the Agent shall make the aggregate of such amounts proceeds thereof available to the Borrower Borrowers on the applicable Funding Date by transferring same day immediately available funds equal to such proceeds received by Agent to the account(s) designated by the BorrowerDesignated Account; provided, howeverthat subject to the provisions of Section 2.3(d)(ii), that no Lender shall have an obligation to make any Revolving Loan, if (1) one or more of the amount of Revolving Loans so made applicable conditions precedent set forth in Section 3 will not be satisfied on any date shall not the requested Funding Date for the applicable Borrowing unless such condition has been waived, or (2) the requested Borrowing would exceed the then-current Availability on such date.Funding Date. (ii) Unless Agent receives notice from a Lender prior to 11:30 a.m. on the Business Day that is the requested Funding Date relative to a requested Borrowing as to which Agent

Appears in 1 contract

Samples: Credit Agreement and Loan (Nautilus, Inc.)

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