Common use of Notices Irrevocable Clause in Contracts

Notices Irrevocable. Each Notice of Borrowing and Notice of Conversion or Continuation shall be irrevocable and binding on the Borrower. In the case of any Borrowing which the related Notice of Borrowing specifies is to be comprised of LIBOR Advances, the Borrower shall indemnify each Bank against any loss, out-of-pocket cost or expense incurred by such Bank as a result of any condition precedent for Borrowing set forth in Article III not being satisfied for any reason, including, without limitation, any loss, cost or expense actually incurred by reason of the liquidation or reemployment of deposits or other funds acquired by such Bank to fund the Advance to be made by such Bank as part of such Borrowing when such Advance, as a result of such failure, is not made on such date.

Appears in 7 contracts

Samples: Senior Credit Agreement (Eagle Hospitality Properties Trust, Inc.), Senior Unsecured Term Loan Agreement (LaSalle Hotel Properties), Senior Unsecured Term Loan Agreement (LaSalle Hotel Properties)

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Notices Irrevocable. Each Notice of Borrowing and Notice of Conversion or Continuation shall be irrevocable and binding on the Borrower. In the case of any Borrowing which the related Notice of Borrowing specifies is to be comprised of LIBOR Eurodollar Rate Advances, the Borrower shall indemnify each Bank Lender against any loss, out-of-pocket cost or expense incurred by such Bank Lender as a result of any condition precedent for Borrowing set forth in Article III not being satisfied for any reason, including, without limitation, any loss, cost or expense actually incurred by reason of the liquidation or reemployment of deposits or other funds acquired by such Bank Lender to fund the Advance to be made by such Bank Lender as part of such Borrowing when such Advance, as a result of such failure, is not made on such date.

Appears in 4 contracts

Samples: Senior Secured Credit Agreement (Interstate Hotels & Resorts Inc), Secured Credit Agreement (Interstate Hotels & Resorts Inc), Senior Secured Credit Agreement (Interstate Hotels & Resorts Inc)

Notices Irrevocable. Each Notice of Borrowing and Notice of Conversion ------------------- or Continuation shall be irrevocable and binding on the Borrower. In the case of any Borrowing which the related Notice of Borrowing specifies is to be comprised of LIBOR Rate Advances, the Borrower shall indemnify each Bank against any loss, out-of-pocket cost or expense incurred by such Bank as a result of any condition precedent for Borrowing set forth in Article III not being satisfied for any reason, including, without limitation, any loss, cost or expense actually incurred by reason of the liquidation or reemployment of deposits or other funds acquired by such Bank to fund the Advance to be made by such Bank as part of such Borrowing when such Advance, as a result of such failure, is not made on such date.

Appears in 2 contracts

Samples: Credit Agreement (American General Hospitality Corp), Management Agreement (American General Hospitality Corp)

Notices Irrevocable. Each Notice of Borrowing and Notice of Conversion or Continuation shall be irrevocable and binding on the Borrower. In the case of any Borrowing which the related Notice of Borrowing specifies is to be comprised of LIBOR Eurodollar Rate Advances, the Borrower shall indemnify each Bank against any loss, out-of-pocket cost or expense incurred by such Bank as a result of any condition precedent for Borrowing set forth in Article III not being satisfied for any reason, including, without limitation, any loss, cost or expense actually incurred by reason of the liquidation or reemployment of deposits or other funds acquired by such Bank to fund the Advance to be made by such Bank as part of such Borrowing when such Advance, as a result of such failure, is not made on such date.

Appears in 2 contracts

Samples: Credit Agreement (Varco International Inc /De/), Credit Agreement (Arkansas Best Corp /De/)

Notices Irrevocable. Each Notice of Borrowing and Notice of ------------------- Conversion or Continuation shall be irrevocable and binding on the Borrower. In the case of any Borrowing which the related Notice of Borrowing specifies is to be comprised of LIBOR Advances, the Borrower shall indemnify each Bank Lender against any loss, out-of-pocket cost or expense incurred by such Bank Lender as a result of any condition precedent for Borrowing set forth in Article III not being satisfied for any reason, including, without limitation, any loss, cost or expense actually incurred by reason of the liquidation or reemployment of deposits or other funds acquired by such Bank Lender to fund the Advance to be made by such Bank Lender as part of such Borrowing when such Advance, as a result of such failure, is not made on such date.

Appears in 2 contracts

Samples: Senior Secured Credit Agreement (Meristar Hotels & Resorts Inc), Credit Agreement (Meristar Hospitality Corp)

Notices Irrevocable. Each Notice of Borrowing and Notice of Conversion or Continuation shall be irrevocable and binding on the BorrowerBorrower delivering such notice. In the case of any Borrowing which the related Notice of Borrowing specifies is to be comprised of LIBOR Advances, the Each Borrower shall indemnify each Bank against any loss, out-of-pocket cost or expense actually incurred by such Bank as a result of any condition precedent failure to fulfill on or before the date specified in such Notice of Borrowing or such Notice of Continuation for such Borrowing the applicable conditions set forth in Article III not being satisfied for any reasonIII, including, without limitation, any loss, cost or expense actually incurred by reason of the liquidation or reemployment of deposits or other funds acquired by such Bank to fund the Advance to be made by such Bank as part of such Borrowing when such Advance, as a result of such failure, is not made on such date.

Appears in 1 contract

Samples: Credit Agreement (Schweitzer Mauduit International Inc)

Notices Irrevocable. Each Notice of Borrowing and Notice of ------------------- Conversion or Continuation shall be irrevocable and binding on the Borrower. In the case of any Borrowing which the related Notice of Borrowing specifies is to be comprised of LIBOR Advances, the Borrower shall indemnify each Bank against any loss, out-of-pocket cost or expense incurred by such Bank as a result of any condition precedent for Borrowing set forth in Article III not being satisfied for any reason, including, without limitation, any loss, cost or expense actually incurred by reason of the liquidation or reemployment of deposits or other funds acquired by such Bank to fund the Advance to be made by such Bank as part of such Borrowing when such Advance, as a result of such failure, is not made on such date.

Appears in 1 contract

Samples: Credit Agreement (Lasalle Hotel Properties)

Notices Irrevocable. Each Notice of Borrowing and Notice of Conversion or ------------------- Continuation shall be irrevocable and binding on the Borrower. In the case of any Borrowing which the related Notice of Borrowing specifies is to be comprised of LIBOR Rate Advances, the Borrower shall indemnify each Bank against any loss, out-of-pocket cost or expense incurred by such Bank as a result of any condition precedent for Borrowing set forth in Article III not being satisfied for any reason, including, without limitation, any loss, cost or expense actually incurred by reason of the liquidation or reemployment of deposits or other funds acquired by such Bank to fund the Advance to be made by such Bank as part of such Borrowing when such Advance, as a result of such failure, is not made on such date.

Appears in 1 contract

Samples: Credit Agreement (American General Hospitality Corp)

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Notices Irrevocable. Each Notice of Borrowing and Notice of Conversion or Continuation shall be irrevocable and binding on the Borrower. In the case of any Borrowing which the related Notice of Borrowing specifies is to be comprised of LIBOR Eurocurrency Rate Advances, the Borrower shall indemnify each Bank Lender against any loss, out-of-pocket cost or expense incurred by such Bank Lender as a result of any condition precedent for Borrowing set forth in Article III not being satisfied for any reason, including, without limitation, including any loss, cost or expense actually incurred by reason of the liquidation or reemployment of deposits or other funds acquired by such Bank Lender to fund the Advance to be made by such Bank Lender as part of such Borrowing when such Advance, as a result of such failure, is not made on such date.

Appears in 1 contract

Samples: Credit Agreement (National Oilwell Varco Inc)

Notices Irrevocable. Each Notice of Borrowing and Notice of Conversion or Continuation shall be irrevocable and binding on the Borrower. In the case of any Borrowing which the related Notice of Borrowing specifies is to be comprised of LIBOR Fixed Rate Advances, the Borrower shall indemnify each Bank Lender against any loss, out-of-pocket cost or expense incurred by such Bank Lender as a result of any condition precedent for Borrowing set forth in Article III not being satisfied for any reason, including, without limitation, any loss, cost or expense actually incurred by reason of the liquidation or reemployment of deposits or other funds acquired by such Bank Lender to fund the Advance to be made by such Bank Lender as part of such Borrowing when such Advance, as a result of such failure, is not made on such date.

Appears in 1 contract

Samples: Senior Secured Credit Agreement (Interstate Hotels & Resorts Inc)

Notices Irrevocable. Each Notice of Borrowing and Notice of Conversion or Continuation shall be irrevocable and binding on the Borrower. In the case of any Borrowing which the related Notice of Borrowing specifies is to be comprised of LIBOR AdvancesBorrowing, the Borrower shall indemnify each Bank Lender against any loss, out-of-pocket cost cost, or expense incurred by such Bank Lender as a result of any condition precedent failure by Borrower to fulfill on or before the date specified in such Notice of Borrowing for such Borrowing the applicable conditions set forth in Article III not being satisfied for any reason, including, without limitation, any lossloss (including any loss of profits), cost or expense actually incurred by reason of the liquidation or reemployment of deposits or other funds acquired by such Bank Lender to fund the Advance Loan to be made by such Bank Lender as part of such Borrowing when such AdvanceLoan, as a result of such failure, is not made on such date.

Appears in 1 contract

Samples: Credit Agreement (Trans Energy Inc)

Notices Irrevocable. Each Notice of Borrowing and Notice of ------------------- Conversion or Continuation shall be irrevocable and binding on the Borrower. In the case of any Borrowing which the related Notice of Borrowing specifies is to be comprised of LIBOR Rate Advances, the Borrower shall indemnify each Bank against any loss, out-of-pocket cost or expense incurred by such Bank as a result of any condition precedent for Borrowing set forth in Article III not being satisfied for any reason, including, without limitation, any loss, cost or expense actually incurred by reason of the liquidation or reemployment of deposits or other funds acquired by such Bank to fund the Advance to be made by such Bank as part of such Borrowing when such Advance, as a result of such failure, is not made on such date.

Appears in 1 contract

Samples: Credit Agreement (American General Hospitality Corp)

Notices Irrevocable. Each Notice of Borrowing and Notice of ------------------- Conversion or Continuation shall be irrevocable and binding on the Borrower. In the case of any Borrowing which the related Notice of Borrowing specifies is to be comprised of LIBOR Eurodollar Rate Advances, the Borrower shall indemnify each Bank against any loss, out-of-pocket cost or expense incurred by such Bank as a result of any condition precedent for Borrowing set forth in Article III not being satisfied for any reason, including, without limitation, any loss, cost or expense actually incurred by reason of the liquidation or reemployment of deposits or other funds acquired by such Bank to fund the Advance to be made by such Bank as part of such Borrowing when such Advance, as a result of such failure, is not made on such date.

Appears in 1 contract

Samples: Credit Agreement (Varco International Inc /De/)

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