Common use of Notices; Disbursement Clause in Contracts

Notices; Disbursement. Whenever the Borrower desires a Swingline Loan advance hereunder, the Borrower shall give written notice (or telephone notice promptly confirmed in writing) to the Swingline Lender not later than 2:00 P.M. (Charlotte, North Carolina time) on the Business Day of the requested Swingline Loan advance. Each such notice shall be irrevocable and shall specify (A) that a Swingline Loan advance is requested, (B) the date of the requested Swingline Loan advance (which shall be a Business Day) and (C) the principal amount of the Swingline Loan advance requested. Each Swingline Loan shall be made as a Base Rate Loan and shall have such maturity date as set forth in clause (iii) below. Unless the Swingline Lender has received notice (by telephone or in writing) from the Agent (including at the request of any Lender) prior to 2:00 p.m. (Charlotte, North Carolina time) on the date of the proposed Swingline Loan Borrowing (A) directing the Swingline Lender not to make such Swingline Loan as a result of the limitations set forth in the proviso to the first sentence of Section 2.3(a), or (B) that one or more of the applicable conditions specified in Article V is not then satisfied, then, subject to the terms and conditions hereof, the Swingline Lender will, not later than 3:00 p.m. (Charlotte, North Carolina time) on the Business Day of the requested borrowing, make the amount of its Swingline Loan available to the Borrower at its office by crediting the account of the Borrower on the books of the Swingline Lender in immediately available funds.

Appears in 1 contract

Samples: Credit Agreement (Apria Healthcare Group Inc)

AutoNDA by SimpleDocs

Notices; Disbursement. Whenever the Borrower desires a Swingline Loan advance hereunder, the Borrower hereunder it shall give written notice (or telephone telephonic notice promptly confirmed in writing) to the Swingline Lender not later than 2:00 P.M. 11:00 A.M. (Charlotte, North Carolina time) on the Business Day of the requested Swingline Loan advance; provided that in the case of telephone notice given prior to 11:00 A.M. (Charlotte, North Carolina time), the Borrower shall have until 12:00 Noon (Charlotte, North Carolina time) to deliver the confirmatory written notice. Each such notice shall be irrevocable and shall specify (A) that a Swingline Loan advance is requested, (B) the date of the requested Swingline Loan advance (which shall be a Business Day) and (C) the principal amount of and Interest Period for the Swingline Loan advance requested. Each Swingline Loan shall be made as a Base Rate Loan and shall have such maturity date as set forth in clause (iii) below. Unless the Swingline Lender has received notice and the Borrower shall agree (by telephone or in writing) but no later than 30 days from the Agent (including at the request of any Lender) prior to 2:00 p.m. (Charlotte, North Carolina time) on the date of the proposed such Swingline Loan Borrowing (Ais requested) directing upon receipt by the Swingline Lender not to make of any such notice from the Borrower. The Swingline Lender shall initiate the transfer of funds representing the Swingline Loan as a result of the limitations set forth in the proviso advance to the first sentence of Section 2.3(a), or (B) that one or more of the applicable conditions specified in Article V is not then satisfied, then, subject to the terms and conditions hereof, the Swingline Lender will, not later than Borrower by 3:00 p.m. P.M. (Charlotte, North Carolina time) on the Business Day of the requested borrowing, make the amount of its Swingline Loan available to the Borrower at its office by crediting the account of the Borrower on the books of the Swingline Lender in immediately available funds.

Appears in 1 contract

Samples: Credit Agreement (United Dominion Realty Trust Inc)

Notices; Disbursement. Whenever the Borrower desires a Swingline Loan advance hereunder, the Borrower hereunder it shall give written notice (or telephone telephonic notice promptly confirmed in writing) to the Swingline Lender not later than 2:00 P.M. 11:00 A.M. (Charlotte, North Carolina time) on the Business Day of the requested Swingline Loan advance. Each such notice shall be irrevocable and shall specify (A) that a Swingline Loan advance is requested, (B) the date of the requested Swingline Loan advance (which shall be a Business Day) and (C) the principal amount of and Interest Period for the Swingline Loan advance requested. Each Swingline Loan shall be made as a Base Rate Loan and shall have such maturity date as set forth in clause (iii) below. Unless the Swingline Lender has received notice (and the Borrower shall agree upon receipt by telephone or in writing) from the Agent (including at the request of any Lender) prior to 2:00 p.m. (Charlotte, North Carolina time) on the date of the proposed Swingline Loan Borrowing (A) directing the Swingline Lender not to make of any such notice from the Borrower. The Swingline Lender shall initiate the transfer of funds representing the Swingline Loan as a result of the limitations set forth in the proviso advance to the first sentence of Section 2.3(a), or (B) that one or more of the applicable conditions specified in Article V is not then satisfied, then, subject to the terms and conditions hereof, the Swingline Lender will, not later than Borrower by 3:00 p.m. P.M. (Charlotte, North Carolina time) on the Business Day of the requested borrowing. Notwithstanding the foregoing provisions of this subsection (i), make the amount of its Swingline Loan available to the Borrower at its office by crediting the account of the Borrower on the books of and the Swingline Lender in immediately available fundsmay from time to time agree to make Swingline Loan advances pursuant to an "auto-borrow" and "zero balance" or other similar arrangement, subject however to the conditions and limitations relating to the Swingline Loans set out herein.

Appears in 1 contract

Samples: Railworks Corp

Notices; Disbursement. Whenever the The Borrower desires shall request a Swingline Loan advance hereunder, the Borrower shall give written notice (or telephone notice promptly confirmed in writing) borrowing by submitting an appropriate Notice of Borrowing to the Swingline Lender not later than 2:00 P.M. 11:00 A.M. (Charlotte, North Carolina time) on the Business Day of 50 the requested Swingline Loan advance. Each such notice shall be irrevocable and shall specify (A) that a Swingline Loan advance is requested, (B) the date of the requested Swingline Loan advance (which shall be a Business Day) and (C) the principal amount of the Swingline Loan advance requested. Each Swingline Loan shall be made as a Base Rate Loan or a Quoted Rate Loan as agreed to by the Swingline Lender and the Borrower at the time of such Swingline Loan and (subject to subsection (c) below) shall have such maturity date (and, in the case of a Quoted Rate Loan, such Interest Period) as set forth in clause (iii) below. Unless agreed to by the Swingline Lender has received notice (and the Borrower upon receipt by telephone or in writing) from the Agent (including at the request of any Lender) prior to 2:00 p.m. (Charlotte, North Carolina time) on the date of the proposed Swingline Loan Borrowing (A) directing the Swingline Lender not to make of any such notice from the Borrower. The Swingline Lender shall initiate the transfer of funds representing the Swingline Loan as a result of the limitations set forth in the proviso advance to the first sentence of Section 2.3(a), or (B) that one or more of the applicable conditions specified in Article V is not then satisfied, then, subject to the terms and conditions hereof, the Swingline Lender will, not later than 3:00 p.m. Borrower by 1:00 P.M. (Charlotte, North Carolina time) on the Business Day of the requested borrowing, make the amount of its Swingline Loan available to the Borrower at its office by crediting the account of the Borrower on the books of the Swingline Lender in immediately available funds.

Appears in 1 contract

Samples: Credit Agreement (Compbenefits Corp)

AutoNDA by SimpleDocs

Notices; Disbursement. Whenever the Borrower desires --------------------- a Swingline Loan advance hereunder, the Borrower hereunder it shall give written notice (or telephone telephonic notice promptly confirmed in writing) to the Swingline Lender not later than 2:00 P.M. 11:00 A.M. (Charlotte, North Carolina time) on the Business Day of the requested Swingline Loan advance. Each such notice shall be irrevocable and shall specify (A) that a Swingline Loan advance is requested, (B) the date of the requested Swingline Loan advance (which shall be a Business Day) and (C) the principal amount of and Interest Period for the Swingline Loan advance requested. Each Swingline Loan shall be made as a Base Rate Loan and shall have such maturity date as set forth in clause (iii) below. Unless the Swingline Lender has received notice (and the Borrower shall agree upon receipt by telephone or in writing) from the Agent (including at the request of any Lender) prior to 2:00 p.m. (Charlotte, North Carolina time) on the date of the proposed Swingline Loan Borrowing (A) directing the Swingline Lender not to make of any such notice from the Borrower. The Swingline Lender shall initiate the transfer of funds representing the Swingline Loan as a result of the limitations set forth in the proviso advance to the first sentence of Section 2.3(a), or (B) that one or more of the applicable conditions specified in Article V is not then satisfied, then, subject to the terms and conditions hereof, the Swingline Lender will, not later than Borrower by 3:00 p.m. P.M. (Charlotte, North Carolina time) on the Business Day of the requested borrowing. Notwithstanding the foregoing provisions of this subsection (i), make the amount of its Swingline Loan available to the Borrower at its office by crediting the account of the Borrower on the books of and the Swingline Lender in immediately available fundsmay from time to time agree to make Swingline Loan advances pursuant to an "auto-borrow" and "zero-balance" or other similar arrangement, subject however to the conditions and limitations relating to the Swingline Loans set out herein.

Appears in 1 contract

Samples: Credit Agreement (Access Worldwide Communications Inc)

Notices; Disbursement. Whenever one or more of the Borrower Borrowers desires a Swingline Loan advance hereunderhereunder it shall deliver a Notice of Borrowing, together with the Borrower shall give written notice (or telephone notice promptly confirmed in writing) officer’s certificate required by Section 5.2(e), to the Swingline Lender not later than 2:00 P.M. 11:00 A.M. (Charlotte, North Carolina time) on the Business Day of the requested Swingline Loan advance. Each such notice shall be irrevocable and shall specify (A) that a Swingline Loan advance is requested, (B) the date of the requested Swingline Loan advance (which shall be a Business Day) and ), (C) the principal amount of the Swingline Loan advance requested, (D) the purpose for which the requested Swingline Loan will be used by the applicable Borrower and (E) that the representations and warranties made by the Credit Parties in any Credit Document are true and correct in all material respects at and as if made on the date hereof except to the extent they expressly relate to an earlier date. Each Swingline Loan shall be made as a Base Rate Loan and shall have such maturity date (which maturity date shall not be a date more than three (3) Business Days from the date of advance thereof) as set forth in clause (iii) below. Unless the Swingline Lender has received notice (and the applicable Borrower shall agree upon receipt by telephone or in writing) from the Agent (including at the request of any Lender) prior to 2:00 p.m. (Charlotte, North Carolina time) on the date of the proposed Swingline Loan Borrowing (A) directing the Swingline Lender not to make of any such notice from the applicable Borrower. The Swingline Lender shall initiate the transfer of funds representing the Swingline Loan as a result of the limitations set forth in the proviso advance to the first sentence of Section 2.3(a), or (B) that one or more of the applicable conditions specified in Article V is not then satisfied, then, subject to the terms and conditions hereof, the Swingline Lender will, not later than Borrower by 3:00 p.m. P.M. (Charlotte, North Carolina time) on the Business Day of the requested borrowing, make the amount of its Swingline Loan available to the Borrower at its office by crediting the account of the Borrower on the books of the Swingline Lender in immediately available funds.

Appears in 1 contract

Samples: Credit Agreement (Highwoods Realty LTD Partnership)

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