Common use of Method of Making Requests Clause in Contracts

Method of Making Requests. As an accommodation to Borrowers, unless a Default or an Event of Default is then in existence, (i) Agent shall permit telephonic or electronic requests for Revolving Credit Loans to Agent, (ii) Agent and Bank, or a Letter of Credit Issuer, as applicable, may, in their discretion, permit electronic transmittal of requests for Letters of Credit and LC Guaranties to them, and (iii) Agent may, in Agent’s discretion, permit electronic transmittal of instructions, authorizations, agreements or reports to Agent. Unless a Borrower specifically directs Agent, Bank or a Letter of Credit Issuer, as applicable in writing not to accept or act upon telephonic or electronic communications from such Borrower (which direction shall only be applicable to the Persons who have received the same in writing), neither Agent, Bank, any Letter of Credit Issuer, nor any Lender shall have any liability to any Borrower for any loss or damage suffered by any Borrower as a result of Agent’s, Bank’s or a Letter of Credit Issuer’s honoring of any requests, execution of any instructions, authorizations or agreements or reliance on any reports communicated to it telephonically or electronically and purporting to have been sent to Agent, Bank or a Letter of Credit Issuer by any Borrower (except for any such loss or damage resulting from Agent’s, Bank’s or any Letter of Credit Issuer’s gross negligence or willful misconduct), and neither Agent, Bank nor any Letter of Credit Issuer shall have any duty to verify the origin of any such communication or the authority of the Person sending it. Each telephonic request for a Letter of Credit or LC Guaranty accepted by Agent, Bank or a Letter of Credit Issuer, as applicable, hereunder shall be promptly followed by a written confirmation of such request from the applicable Borrower to Agent and Bank or such Letter of Credit Issuer, if applicable.

Appears in 3 contracts

Samples: Loan and Security Agreement (Neenah Foundry Co), Loan and Security Agreement (Neenah Foundry Co), Loan and Security Agreement (Neenah Foundry Co)

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Method of Making Requests. As an accommodation to Borrowers, unless a Default or an Event of Default is then in existence, (i) Agent shall permit telephonic or electronic requests for Revolving Credit Loans to Agent, (ii) Agent and Bank, or a Letter of Credit Issuer, as applicable, Bank may, in their discretion, permit electronic transmittal of requests for Letters of Credit and LC Guaranties to them, and (iii) Agent may, in Agent’s discretion, permit electronic transmittal of instructions, authorizations, agreements or reports to Agent. Unless a Borrower Representative, on its own behalf and on behalf of all other Borrowers specifically directs Agent, Agent or Bank or a Letter of Credit Issuer, as applicable in writing not to accept or act upon telephonic or electronic communications from such Borrower (which direction shall only be applicable to the Persons who have received the same in writing)any Borrower, neither Agent, Bank, any Letter of Credit Issuer, Agent nor any Lender Bank shall have any liability to any Borrower Borrowers for any loss or damage suffered by any Borrower as a result of Agent’s, Bank’s or a Letter of Credit IssuerBank’s honoring of any requests, execution of any instructions, authorizations or agreements or reliance on any reports communicated to it telephonically or electronically and purporting to have been sent to Agent, Agent or Bank or a Letter of Credit Issuer by any Borrower (except for any such loss or damage resulting from Agent’s, Bank’s or any Letter of Credit Issuer’s gross negligence or willful misconduct)Borrower, and neither Agent, Agent nor Bank nor any Letter of Credit Issuer shall have any duty to verify the origin of any such communication or the authority of the Person sending it; provided that the foregoing shall not apply to liability resulting from the gross negligence or willful misconduct of Agent or Bank, as applicable, in either case as determined by a final non-appealable judgment of a court of competent jurisdiction. Each telephonic request for a Revolving Credit Loan, Letter of Credit or LC Guaranty accepted by AgentAgent and Bank, Bank or a Letter of Credit Issuer, as if applicable, hereunder shall be promptly followed by a written confirmation of such request from the applicable Borrower Representative to Agent and Bank or such Letter of Credit IssuerBank, if applicable.

Appears in 1 contract

Samples: Loan and Security Agreement (Cambium Learning Group, Inc.)

Method of Making Requests. Each Borrower hereby irrevocably appoints ACPI as its agent for requesting Loans under this Agreement and authorizes and directs Lender to make Loans and to issue Letters of Credit and LC Guaranties for the account of such Borrower as requested by ACPI from time to time. As an accommodation to Borrowers, unless a Default or an Event of Default is then in existence, (i) Agent Lender shall permit telephonic or electronic requests for Revolving Credit Loans to AgentLender, (ii) Agent Lender and Bank, or a Letter of Credit Issuer, as applicable, Bank may, in their discretion, permit electronic transmittal of requests for Letters of Credit and LC Guaranties to them, and (iii) Agent Lender may, in Agent’s Xxxxxx's discretion, permit electronic transmittal of instructions, authorizations, agreements or reports to AgentLender. Unless a Borrower specifically directs Agent, Lender or Bank or a Letter of Credit Issuer, as applicable in writing not to accept or act upon telephonic or electronic communications from such Borrower (which direction shall only be applicable to the Persons who have received the same in writing)Borrower, neither Agent, Bank, any Letter of Credit Issuer, Lender nor any Lender Bank shall have any liability to any Borrower Borrowers for any loss or damage suffered by any such Borrower as a result of Agent’s, Xxxxxx's or Bank’s or a Letter of Credit Issuer’s 's honoring of any requests, execution of any instructions, authorizations or agreements or reliance on any reports communicated to it telephonically or electronically and purporting to have been sent to Agent, Lender or Bank or a Letter of Credit Issuer by any such Borrower (except for any such loss or damage resulting from Agent’s, Bank’s or any Letter of Credit Issuer’s gross negligence or willful misconduct), and neither Agent, Lender nor Bank nor any Letter of Credit Issuer shall have any duty to verify the origin of any such communication or the authority of the Person person sending it. Each telephonic request for a Revolving Credit Loan, Letter of Credit or LC Guaranty accepted by AgentLender and Bank, Bank or a Letter of Credit Issuer, as if applicable, hereunder shall be promptly followed by a written confirmation of such request from the applicable requesting Borrower to Agent Lender and Bank or such Letter of Credit IssuerBank, if applicable.

Appears in 1 contract

Samples: Loan and Security Agreement (Vista 2000 Inc)

Method of Making Requests. As an accommodation to BorrowersBorrower Representative, unless a Default or an Event of Default is then in existence, (i) Administrative Agent shall permit telephonic or electronic requests for Revolving Credit Loans to Administrative Agent, (ii) Administrative Agent and Bank, or a Letter of Credit Issuer, as applicable, Issuing Bank may, in their discretion, permit electronic transmittal of requests for Letters of Credit and LC and Acceptance Guaranties to them, and (iii) Administrative Agent may, in Administrative Agent’s 's discretion, permit electronic transmittal of instructions, authorizations, agreements or reports to Administrative Agent. Unless a Borrower Representative specifically directs Agent, Administrative Agent or Issuing Bank or a Letter of Credit Issuer, as applicable in writing not to accept or act upon telephonic or electronic communications from such Borrower (which direction shall only be applicable to the Persons who have received the same in writing)Representative, neither Agent, Bank, any Letter of Credit Issuer, Administrative Agent nor any Lender Issuing Bank shall have any liability to any Borrower or any other Loan Party for any loss or damage suffered by any Borrower or any other Loan Party as a result of Administrative Agent’s, 's or Issuing Bank’s or a Letter of Credit Issuer’s 's honoring of any requests, execution of any instructions, authorizations or agreements or reliance on any reports communicated to it telephonically or electronically and purporting to have been sent to Agent, Administrative Agent or Issuing Bank or a Letter of Credit Issuer by any Borrower (except for any such loss or damage resulting from Agent’s, Bank’s or any Letter of Credit Issuer’s gross negligence or willful misconduct)Representative, and neither Agent, Administrative Agent nor Issuing Bank nor any Letter of Credit Issuer shall have any duty to verify the origin of any such communication or the authority of the Person sending it. Each telephonic request for a Revolving Credit Loan, Letter of Credit or LC and Acceptance Guaranty accepted by AgentAdministrative Agent and Issuing Bank, Bank or a Letter of Credit Issuer, as if applicable, hereunder shall be promptly followed by a written confirmation of such request from the applicable Borrower Representative to Administrative Agent and Bank or such Letter of Credit IssuerIssuing Bank, if applicable.

Appears in 1 contract

Samples: Loan and Security Agreement (Jacuzzi Brands Inc)

Method of Making Requests. As an accommodation to Borrowers, unless a Default or an Event of Default is then in existence, (ia) Administrative Agent shall permit telephonic or electronic requests for Domestic Revolving Credit Loans or Domestic Cap Ex Loans to Administrative Agent; provided that in the case of requests for Domestic Cap Ex Loans, Borrower has previously delivered to Administrative Agent the written materials required by Section 1.3.2, (iib) Administrative Agent and Bank, or a Letter of Credit Issuer, as applicable, may, in their its discretion, permit electronic transmittal of requests for Domestic Letters of Credit and Domestic LC Guaranties to themAdministrative Agent, and (iiic) Administrative Agent may, in Administrative Agent’s discretion, permit electronic transmittal of instructions, authorizations, agreements or reports to Administrative Agent. All other instructions, authorizations, agreements or reports must be in written hard copy form (including by facsimile). Unless a Borrower Representative specifically directs Agent, Bank or a Letter of Credit Issuer, as applicable Administrative Agent in writing not to accept or act upon telephonic or electronic communications from such Borrower (which direction Representative, Administrative Agent shall only be applicable to the Persons who have received the same in writing), neither Agent, Bank, any Letter of Credit Issuer, nor any Lender shall not have any liability to any Borrower Borrowers for any loss or damage suffered by any Borrower Borrowers as a result of Administrative Agent’s, Bank’s or a Letter of Credit Issuer’s honoring of any requests, execution of any instructions, authorizations or agreements or reliance on any reports communicated to it telephonically or electronically and purporting to have been sent to Agent, Bank or a Letter Administrative Agent by an authorized officer of Credit Issuer by any Borrower (except for any such loss or damage resulting from Agent’s, Bank’s or any Letter of Credit Issuer’s gross negligence or willful misconduct)Representative, and neither Agent, Bank nor any Letter of Credit Issuer Administrative Agent shall not have any duty to verify the origin of any such communication or the authority of the Person sending it. Each telephonic request for a Revolving Credit Loan, Domestic Cap Ex Loan, Domestic Letter of Credit or Domestic LC Guaranty accepted by Administrative Agent, Bank or a Letter of Credit Issuer, as applicable, hereunder shall be promptly followed by a written confirmation of such request from the applicable Borrower Representative to Agent and Bank or such Letter of Credit Issuer, if applicableAdministrative Agent.

Appears in 1 contract

Samples: Loan and Security Agreement (Channell Commercial Corp)

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Method of Making Requests. As an accommodation to Borrowers, unless a Default or an Event of Default is then in existence, (i) Agent shall permit telephonic or electronic requests for Revolving Credit Loans to Agent, (ii) Agent and Bank, or a Letter of Credit Issuer, as applicable, may, in their discretion, permit electronic transmittal of requests for Letters of Credit and LC Guaranties to them, and (iii) Agent may, in Agent’s 's discretion, permit electronic transmittal of instructions, authorizations, agreements or reports to Agent. Unless a Borrower specifically directs Agent, Bank or a Letter of Credit Issuer, as applicable in writing not to accept or act upon telephonic or electronic communications from such Borrower (which direction shall only be applicable to the Persons who have received the same in writing), neither Agent, Bank, any Letter of Credit Issuer, nor any Lender shall have any liability to any Borrower for any loss or damage suffered by any Borrower as a result of Agent’s's, Bank’s 's or a Letter of Credit Issuer’s 's honoring of any requests, execution of any instructions, authorizations or agreements or reliance on any reports communicated to it telephonically or electronically and purporting to have been sent to Agent, Bank or a Letter of Credit Issuer by any Borrower (except for any such loss or damage resulting from From Agent’s's, Bank’s 's or any Letter of Credit Issuer’s 's gross negligence or willful misconduct), and neither Agent, Bank nor any Letter of Credit Issuer shall have any duty to verify the origin of any such communication or the authority of the Person sending it. Each telephonic request for a Letter of Credit or LC Guaranty accepted by Agent, Bank or a Letter of Credit Issuer, as applicable, hereunder shall be promptly followed by a written confirmation of such request from the applicable Borrower to Agent and Bank or such Letter of Credit Issuer, if applicable.

Appears in 1 contract

Samples: Loan and Security Agreement (Deeter Foundry Inc)

Method of Making Requests. As an accommodation to BorrowersBorrower, unless a Default or an Event of Default is then in existence, (i) Agent shall permit telephonic or electronic requests for Revolving Credit Loans to Agent, (ii) Agent and Bank, or a Letter of Credit Issuer, as applicable, Bank may, in their discretion, permit electronic transmittal of requests for Letters of Credit and LC Guaranties to them, and (iii) Agent may, in Agent’s discretion, permit electronic transmittal of instructions, authorizations, agreements or reports to Agent. Unless a Borrower specifically directs Agent, Agent or Bank or a Letter of Credit Issuer, as applicable in writing not to accept or act upon telephonic or electronic communications from such Borrower (which direction shall only be applicable to the Persons who have received the same in writing)Borrower, neither Agent, Bank, any Letter of Credit Issuer, Agent nor any Lender Bank shall have any liability to any Borrower for any loss or damage suffered by any Borrower as a result of Agent’s, Bank’s or a Letter of Credit IssuerBank’s honoring of any requests, execution of any instructions, authorizations or agreements or reliance on any reports communicated to it telephonically or electronically and purporting to have been sent to Agent, Agent or Bank or a Letter of Credit Issuer by any Borrower (except for any such loss or damage resulting from Agent’s, Bank’s or any Letter of Credit Issuer’s gross negligence or willful misconduct)Borrower, and neither Agent, Agent nor Bank nor any Letter of Credit Issuer shall have any duty to verify the origin of any such communication or the authority of the Person sending it. Each telephonic request for a Revolving Credit Loan, Letter of Credit or LC Guaranty accepted by AgentAgent and Bank, Bank or a Letter of Credit Issuer, as if applicable, hereunder shall be promptly followed by a written confirmation of such request from the applicable Borrower to Agent and Bank or such Letter of Credit IssuerBank, if applicable. LIBOR Portions. Provided that as of both the date of the LIBOR Request and the first day of the Interest Period, no Default or Event of Default exists, in the event Borrower desires to obtain a LIBOR Portion, Borrower shall give Agent a LIBOR Request no later than 11:00 a.m. (Chicago, Illinois time) on the third Business Day prior to the requested borrowing date. Each LIBOR Request shall be irrevocable and binding on Borrower. In no event shall Borrower be permitted to have outstanding at any one time LIBOR Portions with more than four (4) different Interest Periods.

Appears in 1 contract

Samples: Loan and Security Agreement (Pw Eagle Inc)

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