Common use of Procedure for Borrowing Loans Clause in Contracts

Procedure for Borrowing Loans. (a) The Borrowers may borrow Acquisition Facility Loans, Working Capital Facility Loans and Swing Line Loans during the applicable Commitment Period on any Business Day; provided that the applicable Borrower shall give the Administrative Agent (in the case of Loans denominated in United States Dollars) or the Canadian Agent (in the case of Loans denominated in Canadian Dollars) and (solely in the case of Swing Line Loans) the Relevant Swing Line Lenders, irrevocable notice (which notice must be received by the Administrative Agent or the Canadian Agent, as applicable, (x) in the case of a Working Capital Facility Loan or Acquisition Facility Loan, prior to 1:00 p.m. (New York City time), (A) three (3) Business Days prior to the requested Borrowing Date, if all or any part of the requested Working Capital Facility Loans or Acquisition Facility Loans are to be initially Eurocurrency Loans, or (B) on the same Business Day of the requested Borrowing Date, otherwise, and (y) in the case of a Swing Line Loan, prior to 3:00 p.m. (New York City time) on the requested Borrowing Date, in each case, in the form attached hereto as Annex I (the “Borrowing Notice”), specifying:

Appears in 3 contracts

Samples: Credit Agreement (Sprague Resources LP), Credit Agreement (Sprague Resources LP), Security Agreement

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Procedure for Borrowing Loans. (a) The Borrowers may borrow Acquisition Facility Loans, Working Capital Facility Loans and Swing Line Loans during the applicable Commitment Period on any Business Day; provided that the applicable Borrower shall give the Administrative Agent (in the case of Loans denominated in United States Dollars) or the Canadian Agent (in the case of Loans denominated in Canadian Dollars) and (solely in the case of Swing Line Loans) the Relevant Swing Line Lenders, irrevocable notice (which notice must be received by the Administrative Agent or the Canadian Agent, as applicable, (x) in the case of a Working Capital Facility Loan or Acquisition Facility Loan, prior to 1:00 p.m. (New York City time), (A) three (3) Business Days prior to the requested Borrowing Date, if all or any part of the requested Working Capital Facility Loans or Acquisition Facility Loans are to be initially Eurocurrency Loans, or (B) on the same Business Day of the requested Borrowing Date, otherwise, and (y) in the case of a Swing Line Loan, prior to 3:00 p.m. (New York City time) on the requested Borrowing Date, in each case, in the form attached hereto as Annex I (the “Borrowing Notice”), specifying:: (i) whether the borrowing is to be an Acquisition Facility Loan, Dollar

Appears in 1 contract

Samples: Credit Agreement (Sprague Resources LP)

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