Making the Loans. The Administrative Borrower shall give the Agent prior telephone notice (immediately confirmed in writing, in substantially the form of Exhibit C hereto (a "Notice of Borrowing")), not later than 11:00 a.m. (New York City time) five Business Days prior to the date of the proposed Loan. Such Notice of Borrowing shall be irrevocable and shall specify (i) the principal amount of the proposed Loan, (ii) the use of the proceeds of such proposed Loan and (iii) the proposed borrowing date, which must be a Business Day. The Agent may act without liability upon the basis of written, telecopied or telephonic notice believed by the Agent in good faith to be from the Administrative Borrower (or from any Authorized Officer thereof designated in writing purportedly from the Borrowers to the Agent). Each Borrower hereby waives the right to dispute the Agent's record of the terms of any such telephonic Notice of Borrowing. Each Notice of Borrowing shall be irrevocable and binding on the Borrowers. Each Revolving Loan shall be made in a minimum amount of $100,000 and shall be in an integral multiple of $50,000. The Agent, on behalf of the Lender, will make the proceeds of such Loan available to the Borrowers on the day of the proposed Loan by causing an amount, in immediately available funds, to be deposited in an account designated by the Administrative Borrower to the Agent at a commercial bank reasonably satisfactory to the Agent.
Appears in 1 contract
Sources: Financing Agreement (Enherent Corp)
Making the Loans. The Administrative Borrower shall give the Agent prior telephone notice (immediately confirmed in writing, in substantially the form of Exhibit C hereto (a "“Notice of Borrowing"”)), not later than 11:00 a.m. (New York City time) five Business Days prior to the date of the proposed Loan. Such Notice of Borrowing shall be irrevocable and shall specify (i) the principal amount of the proposed Loan, (ii) the use of the proceeds of such proposed Loan and (iii) the proposed borrowing date, which must be a Business Day. The Agent may act without liability upon the basis of written, telecopied or telephonic notice believed by the Agent in good faith to be from the Administrative Borrower (or from any Authorized Officer thereof designated in writing purportedly from the Borrowers to the Agent). Each Borrower hereby waives the right to dispute the Agent's ’s record of the terms of any such telephonic Notice of Borrowing. Each Notice of Borrowing shall be irrevocable and binding on the Borrowers. Each Revolving Loan shall be made in a minimum amount of $100,000 and shall be in an integral multiple of $50,000. The Agent, on behalf of the Lender, will make the proceeds of such Loan available to the Borrowers on the day of the proposed Loan by causing an amount, in immediately available funds, to be deposited in an account designated by the Administrative Borrower to the Agent at a commercial bank reasonably satisfactory to the Agent.
Appears in 1 contract
Sources: Financing Agreement (Enherent Corp)
Making the Loans. The Administrative Borrower shall give the Agent Lender prior telephone notice (immediately confirmed in writing, in substantially the form of Exhibit C G hereto (a "Notice of Borrowing")), not later than 11:00 a.m. (New York City time) five Business Days prior to the date of the proposed Loan. Such Notice of Borrowing shall be irrevocable and shall specify (i) the principal amount of the proposed Loan, (ii) the use of the proceeds of such proposed Loan and (iii) the proposed borrowing date, which must be a Business Day. The Agent Lender may act without liability upon the basis of written, telecopied or telephonic notice believed by the Agent Lender in good faith to be from the Administrative Borrower (or from any Authorized Officer thereof designated in writing purportedly from the Borrowers Borrower to the AgentLender). Each The Borrower hereby waives the right to dispute the AgentLender's record of the terms of any such telephonic Notice of Borrowing. Each Notice of Borrowing shall be irrevocable and binding on the BorrowersBorrower. Each Revolving Loan shall be made in a minimum amount of $100,000 250,000 and shall be in an integral multiple of $50,000. The Agent, on behalf of the Lender, Lender will make the proceeds of such Loan available to the Borrowers Borrower on the day of the proposed Loan by causing an amount, in immediately available funds, to be deposited in an account designated by the Administrative Borrower to the Agent Lender at a commercial bank reasonably satisfactory to previously approved by the AgentLender.
Appears in 1 contract
Making the Loans. The Administrative Borrower shall give the Agent prior telephone notice (immediately confirmed in writing, in substantially the form of Exhibit C G hereto (a "Notice of --------- Borrowing")), not later than 11:00 9:00 a.m. (New York City time) five Business Days --------- prior to the date of the proposed Loan. Such Notice of Borrowing shall be irrevocable and shall specify (i) the principal amount of the proposed Loan, (ii) the use of the proceeds of such proposed Loan Loan, and (iii) the proposed borrowing date, which must be a Business Day, and must be on or promptly after the Effective Date (and after the entry of the Final Bankruptcy Court Order in the case of the second funding of Term Loan A). The Agent may act without liability upon the basis of written, telecopied or telephonic notice believed by the Agent in good faith to be from the Administrative Borrower (or from any Authorized Officer thereof designated in writing purportedly from the Borrowers Borrower to the Agent). Each The Borrower hereby waives the right to dispute the Agent's record of the terms of any such telephonic Notice of Borrowing. Each Notice of Borrowing shall be irrevocable and binding on the BorrowersBorrower. Each Revolving Loan shall be made in a minimum amount of $100,000 and shall be in an integral multiple of $50,000. The Agent, Agent on behalf of the Lender, Lender Group will make the proceeds of such Loan available to the Borrowers Borrower on the day of the proposed Loan by causing an amount, in immediately available funds, to be deposited in an account designated by the Administrative Borrower to the Agent at a commercial bank reasonably satisfactory to the Agent.
Appears in 1 contract
Making the Loans. The Administrative Borrower shall give the Agent Lender prior telephone notice (immediately confirmed in writingwritten or telecopied notice, in substantially the form of Exhibit C E hereto (a "Notice of BorrowingNOTICE OF BORROWING")), not later than 11:00 a.m. (New York City time) five Business Days prior to the date of the proposed Loan. Such Notice of Borrowing shall be irrevocable and shall specify (i) the principal amount of the proposed Loan, (ii) the use of the proceeds of such proposed Loan and (iii) the proposed borrowing date, which must be a Business Day. The Agent Lender may act without liability upon the basis of written, written or telecopied or telephonic notice believed by the Agent Lender in good faith to be from the Administrative Borrower (or from any Authorized Officer thereof designated in writing purportedly from the Borrowers Borrower to the AgentLender). Each Borrower hereby waives the right to dispute the Agent's record of the terms of any such telephonic Notice of Borrowing. Each Notice of Borrowing shall be irrevocable and binding on the BorrowersBorrower. Each Revolving Loan shall be made in a minimum amount of $100,000 50,000 and shall be in an integral multiple of $50,0001,000. The Agent, on behalf of the Lender, Lender will make the proceeds of such Loan available to the Borrowers Borrower on the day of the proposed Loan by causing an amount, in immediately available funds, to be deposited in an account designated by the Administrative Borrower to the Agent Lender at a commercial bank reasonably satisfactory to the AgentLender.
Appears in 1 contract
Sources: Financing Agreement (Innovative Clinical Solutions LTD)