Common use of Notice of Loans Clause in Contracts

Notice of Loans. Jitney Jungle shall, through a Responsible Officer, give the Agent irrevocable written, telex or facsimile notice (promptly confirmed in writing) of each borrowing (including, without limitation, a conversion as permitted by Section 2.02(e) hereof) (i) not later than 11:00 A.M., New York City time, three (3) Business Days before a proposed Eurodollar Loan borrowing or conversion and (ii) not later than 1:00 P.M., New York City time on the Business Day of the requested Base Rate Loan borrowing or conversion. Such notice shall specify (w) whether the Loans then being requested are to be Base Rate Loans or Eurodollar Loans, (x) the date of such borrowing (which shall be a Business Day) and amount thereof, (y) if such Loans are to be Eurodollar Loans, the Interest Period with respect thereto and (z) the Borrower for whose account such borrowing is being made. If no election as to the type of Loan is specified in any such notice, all such Loans shall be Base Rate Loans. If no Interest Period with respect to any Eurodollar Loan is specified in any such notice, then an Interest Period of one (1) month's duration shall be deemed to have been selected. The Agent shall promptly advise the Lenders of any notice given pursuant to this Section 2.03 and of each Lender's portion of the requested borrowing.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Jitney Jungle Stores of America Inc /Mi/), Revolving Credit Agreement (Supermarket Cigarette Sales Inc)

AutoNDA by SimpleDocs

Notice of Loans. Jitney Jungle shall, through a Responsible Officer, The Borrower will give the Agent --------------- irrevocable written, telex or facsimile telephonic notice (promptly immediately confirmed in writing) of each borrowing (including, without limitation, a refinancing or conversion as permitted by Section 2.02(e) hereof) not later than (i) not later than 11:00 A.M.in the case of Eurodollar Loans, 12:00 noon (New York City time, three (3) two Business Days before a proposed Eurodollar Loan borrowing or conversion and (ii) not later than 1:00 P.M.in the case of Alternate Base Loans, 12:00 noon (New York City time time) on the Business Day of the requested Base Rate Loan proposed borrowing or conversion. Such notice shall specify (w) whether the Loans then being requested are to be Alternate Base Rate Loans or Eurodollar Loans, (x) the date of such borrowing (which shall be a Business Day) and the amount thereof, thereof and (y) if such Loans are to be Eurodollar Loans, the Interest Period with respect thereto and (z) the Borrower for whose account such borrowing is being madethereto. If no election as to the type of Loan is specified in any such notice, all such Loans shall be Alternate Base Rate Loans. If no Interest Period with respect to any Eurodollar Loan is specified in any such notice, then an Interest Period of one (1) month's three months' duration shall be deemed to have been selected. The Agent shall promptly advise (but in any event, by 12:30 p.m., New York City time, two Business Days before a Eurodollar Loan or by 12:30 p.m., New York City time, on the same Business Day in the case of an Alternate Base Loan) the Lenders of any notice given pursuant to this Section 2.03 and of each Lender's portion of the requested borrowing.

Appears in 1 contract

Samples: Credit Agreement (Milgray Electronics Inc)

Notice of Loans. Jitney Jungle The Borrowers shall, through a --------------- Responsible OfficerOfficer of any of the Borrowers, give the Agent irrevocable written, telex or facsimile notice (promptly confirmed in writing) of each borrowing (including, without limitation, a conversion as permitted by Section 2.02(e) hereof) (i) not later than 11:00 A.M., New York City time, (i) three (3) Business Days before a proposed Eurodollar Loan borrowing or conversion and (ii) not later than 1:00 P.M., New York City time on the one Business Day of the requested before an Alternate Base Rate Loan borrowing or conversion. Such notice shall specify (w) whether the Loans then being requested are to be Alternate Base Rate Loans or Eurodollar LoansLoans (subject to the restriction set forth in the last paragraph of Section 2.02), (x) the date of such borrowing (which shall be a Business Day) and amount thereof, thereof and (y) if such Loans are to be Eurodollar Loans, the Interest Period with respect thereto and (z) the Borrower for whose account such borrowing is being madethereto. If no election as to the type of Loan is specified in any such notice, all such Loans shall be Alternate Base Rate Loans. If no Interest Period with respect to any Eurodollar Loan is specified in any such notice, then an Interest Period of one (1) month's duration shall be deemed to have been selected. The Agent shall promptly advise the Lenders of any notice given pursuant to this Section 2.03 and of each Lender's portion of the requested borrowing.

Appears in 1 contract

Samples: Credit Agreement (Matthews Studio Equipment Group)

AutoNDA by SimpleDocs

Notice of Loans. Jitney Jungle shall, through a Responsible Officer, The Borrower will give the Agent irrevocable written, telex or facsimile telephonic notice (promptly immediately confirmed in writing) of each borrowing (including, without limitation, a refinancing or conversion as permitted by Section 2.02(e) hereof) not later than (i) not later than 11:00 A.M.in the case of Eurodollar Loans, 12:00 noon (New York City time, three (3) two Business Days before a proposed Eurodollar Loan borrowing or conversion and (ii) not later than 1:00 P.M.in the case of Prime Rate Loans, 12:00 noon (New York City time time) on the Business Day of the requested Base Rate Loan proposed borrowing or conversion. Such notice shall specify (w) whether the Loans then being requested are to be Base Prime Rate Loans or Eurodollar Loans, (x) the date of such borrowing (which shall be a Business Day) and the amount thereof, thereof and (y) if such Loans are to be Eurodollar Loans, the Interest Period with respect thereto and (z) the Borrower for whose account such borrowing is being madethereto. If no election as to the type of Loan is specified in any such notice, all such Loans shall be Base Prime Rate Loans. If no Interest Period with respect to any Eurodollar Loan is specified in any such notice, then an Interest Period of one (1) month's three months, duration shall be deemed to have been selected. The Agent shall promptly advise (but in any event, by 2:00 p.m., New York City time, two Business Days before a Eurodollar Loan or by 12:30 p.m., New York City time, on the same Business Day in the case of an Prime Rate Loan) the Lenders of any notice given pursuant to this Section 2.03 and of each Lender's portion of the requested borrowing.

Appears in 1 contract

Samples: Credit Agreement (Milgray Electronics Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.