Common use of Procedure for Borrowing Revolving Loans Clause in Contracts

Procedure for Borrowing Revolving Loans. Each Borrowing shall be made by a written request by an Authorized Person delivered to Agent (which may be delivered through Agent's electronic platform or portal) and received by Agent no later than 10:00 a.m. (i) on the Business Day that is the requested Funding Date in the case of a request for a Swing Loan, (ii) on the Business Day that is 1 Business Day prior to the requested Funding Date in the case of a request for a Base Rate Loan, and (iii) on the Business Day that is 3 Business Days prior to the requested Funding Date in the case of all other requests, specifying (A) the amount of such Borrowing, and (B) the requested Funding Date (which shall be a Business Day); provided, that Agent may, in its sole discretion, elect to accept as timely requests that are received later than 10:00 a.m. on the applicable Business Day. At Agent's election, in lieu of delivering the above-described written request, any Authorized Person may give Agent telephonic notice of such request by the required time. In such circumstances, Borrower agrees that any such telephonic notice will be confirmed in writing within 24 hours of the giving of such telephonic notice, but the failure to provide such written confirmation shall not affect the validity of the request. All Borrowing requests which are not made on-line via Agent's electronic platform or portal shall be subject to (and unless Agent elects otherwise in the exercise of its sole discretion such Borrowings shall not be made until) the completion of Agent's authentication process (with results satisfactory to Agent) prior to the funding of any such requested Revolving Loan.

Appears in 3 contracts

Samples: Credit Agreement (PROS Holdings, Inc.), Credit Agreement (PROS Holdings, Inc.), Credit Agreement (PROS Holdings, Inc.)

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Procedure for Borrowing Revolving Loans. Each Borrowing shall be made by a written request by an Authorized Person of the requesting Borrower delivered to Agent (which may be delivered through Agent's electronic platform or portal) and received by Agent no later than 10:00 11:00 a.m. (i) on the Business Day that is the requested Funding Date in the case of a request for a Swing Loan or a Base Rate Loan, and (ii) on the U.S. Government Securities Business Day that is 1 three (3) U.S. Government Securities Business Day Days prior to the requested Funding Date in the case of a request for a Base Rate Loan, and (iii) on the Business Day Term SOFR Loan or a Daily Simple SOFR Loan that is 3 Business Days prior to the requested Funding Date in the case of all other requestsnot a Swing Loan, specifying (A) the amount of such Borrowing, and (B) the requested Funding Date (which shall be a Business Day)) and (C) the Designated Account for such Borrowing; provided, provided that Agent may, in its sole discretion, elect to accept as timely requests that are received later than 10:00 11:00 a.m. on the applicable Business Day or U.S. Government Securities Business Day, as applicable. At Requests for Borrowings may be delivered on-line through Agent's election’s electronic platform or portal. If any Borrower is unable to access such platform or portal for any reason, in lieu of delivering the above-above described written request, any such Xxxxxxxx’s Authorized Person may give Agent telephonic notice of such request in accordance with Agent’s procedures by the required time. In such circumstances, Borrower agrees Xxxxxxxxx agree that any such telephonic notice will be confirmed in writing within 24 twenty-four (24) hours of the giving of such telephonic notice, but the failure to provide such written confirmation shall not affect the validity of the such request. All Except in the case of a Borrowing request described in the preceding sentence, all Borrowing requests which are not made delivered on-line via Agent's ’s electronic platform or portal shall be subject to (and unless Agent elects otherwise in the exercise of its sole discretion such Borrowings shall not be made until) the completion of Agent's ’s authentication process (with results satisfactory to Agent) prior to the funding of any such requested Revolving LoanLoan (and unless Agent elects otherwise in the exercise of its sole discretion, such Borrowings shall not be made until the completion of such authentication process).

Appears in 1 contract

Samples: Credit Agreement (Vector Group LTD)

Procedure for Borrowing Revolving Loans. Each Borrowing shall be made by a written request by an Authorized Person delivered to Agent (which may be delivered through Agent's electronic platform or portal) and received by Agent no later than 10:00 11:00 a.m. (i) on the Business Day that is the requested Funding Date in the case of a request for a Swing Loan, a Base Rate Loan or a Daily LIBOR Rate Loan and (ii) on the Business Day that is 1 one (1) Business Day prior to the requested Funding Date in the case of a request for a Base Rate Loan, and (iii) on the Business Day that is 3 Business Days prior to the requested Funding Date in the case of all other requests, specifying (A) the amount of such Borrowing, and (B) the requested Funding Date (which shall be a Business Day); provided, provided that Agent may, in its sole discretion, elect to accept as timely requests that are received later than 10:00 11:00 a.m. on the applicable Business Day. At Requests for Borrowings may be delivered on-line through Agent's election’s electronic platform or portal. If Borrowers are unable to access such platform or portal for any reason, in lieu of delivering the above-above described written request, any Authorized Person may give Agent telephonic notice of such request in accordance with Agent’s procedures by the required time. In such circumstances, Borrower agrees Borrowers agree that any such telephonic notice will be confirmed in writing within 24 twenty-four (24) hours of the giving of such telephonic notice, but the failure to provide such written confirmation shall not affect the validity of the such request. All Except in the case of a Borrowing request described in the preceding sentence, all Borrowing requests which are not made delivered on-line via Agent's ’s electronic platform or portal shall be subject to (and unless Agent elects otherwise in the exercise of its sole discretion such Borrowings shall not be made until) the completion of Agent's ’s authentication process (with results satisfactory to Agent) prior to the funding of any such requested Revolving LoanLoan (and unless Agent elects otherwise in the exercise of its sole discretion, such Borrowings shall not be made until the completion of such authentication process).

Appears in 1 contract

Samples: Credit Agreement (Vector Group LTD)

Procedure for Borrowing Revolving Loans. Each Borrowing shall be made by a written request by an Authorized Person of the requesting Borrower delivered to Agent (which may be delivered through Agent's electronic platform or portal) and received by Agent no later than 10:00 11:00 a.m. (i) on the Business Day that is the requested Funding Date in the case of a request for a Swing Loan, a Base Rate Loan or a Daily LIBOR Rate Loan and (ii) on the Business Day that is 1 one (1) Business Day prior to the requested Funding Date in the case of a request for a Base Rate Loan, and (iii) on the Business Day that is 3 Business Days prior to the requested Funding Date in the case of all other requests, specifying (A) the amount of such Borrowing, and (B) the requested Funding Date (which shall be a Business Day)) and (C) the Designated Account for such Borrowing; provided, provided that Agent may, in its sole discretion, elect to accept as timely requests that are received later than 10:00 11:00 a.m. on the applicable Business Day. At Requests for Borrowings may be delivered on-line through Agent's election’s electronic platform or portal. If any Borrower is unable to access such platform or portal for any reason, in lieu of delivering the above-above described written request, any such Xxxxxxxx’s Authorized Person may give Agent telephonic notice of such request in accordance with Agent’s procedures by the required time. In such circumstances, Borrower agrees Xxxxxxxxx agree that any such telephonic notice will be confirmed in writing within 24 twenty-four (24) hours of the giving of such telephonic notice, but the failure to provide such written confirmation shall not affect the validity of the such request. All Except in the case of a Borrowing request described in the preceding sentence, all Borrowing requests which are not made delivered on-line via Agent's ’s electronic platform or portal shall be subject to (and unless Agent elects otherwise in the exercise of its sole discretion such Borrowings shall not be made until) the completion of Agent's ’s authentication process (with results satisfactory to Agent) prior to the funding of any such requested Revolving LoanLoan (and unless Agent elects otherwise in the exercise of its sole discretion, such Borrowings shall not be made until the completion of such authentication process).

Appears in 1 contract

Samples: Credit Agreement (Vector Group LTD)

Procedure for Borrowing Revolving Loans. Each Borrowing shall be made by a written request by an Authorized Person of the requesting Borrower delivered to Agent (which may be delivered through Agent's electronic platform or portal) and received by Agent no later than 10:00 11:00 a.m. (i) on the Business Day that is the requested Funding Date in the case of a request for a Swing Loan, a Base Rate Loan or a Daily LIBOR Rate Loan and (ii) on the Business Day that is 1 one (1) Business Day prior to the requested Funding Date in the case of a request for a Base Rate Loan, and (iii) on the Business Day that is 3 Business Days prior to the requested Funding Date in the case of all other requests, specifying (A) the amount of such Borrowing, and (B) the requested Funding Date (which shall be a Business Day)) and (C) the Designated Account for such Borrowing; provided, provided that Agent may, in its sole discretion, elect to accept as timely requests that are received later than 10:00 11:00 a.m. on the applicable Business Day. At Requests for Borrowings may be delivered on-line through Agent's election’s electronic platform or portal. If any Borrower is unable to access such platform or portal for any reason, in lieu of delivering the above-above described written request, any such Borrower’s Authorized Person may give Agent telephonic notice of such request in accordance with Agent’s procedures by the required time. In such circumstances, Borrower agrees Borrowers agree that any such telephonic notice will be confirmed in writing within 24 twenty-four (24) hours of the giving of such telephonic notice, but the failure to provide such written confirmation shall not affect the validity of the such request. All Except in the case of a Borrowing request described in the preceding sentence, all Borrowing requests which are not made delivered on-line via Agent's ’s electronic platform or portal shall be subject to (and unless Agent elects otherwise in the exercise of its sole discretion such Borrowings shall not be made until) the completion of Agent's ’s authentication process (with results satisfactory to Agent) prior to the funding of any such requested Revolving Loan.Loan (and unless Agent elects otherwise in the exercise of its sole discretion, such Borrowings shall not be made until the completion of such authentication process). (b)

Appears in 1 contract

Samples: Credit Agreement (Vector Group LTD)

Procedure for Borrowing Revolving Loans. Each Borrowing shall be made by a written request by an Authorized Person delivered to Agent (which may be delivered through Agent's ’s electronic platform or portal) and received by Agent no later than 10:00 a.m. (i) on the Business Day that is the requested Funding Date in the case of a request for a Swing Loan, (ii) on the Business Day that is 1 Business Day prior to the requested Funding Date in the case of a request for a Base Rate Loan, and (iii) on the Business Day that is 3 Business Days prior to the requested Funding Date in the case of all other requests, specifying (A) the amount of such Borrowing, and (B) the requested Funding Date (which shall be a Business Day); provided, that Agent may, in its sole discretion, elect to accept as timely requests that are received later than 10:00 a.m. on the applicable Business Day. At Agent's ’s election, in lieu of delivering the above-described written request, any Authorized Person may give Agent telephonic notice of such request by the required time. In such circumstances, Borrower agrees Borrowers agree that any such telephonic notice will be confirmed in writing within 24 hours of the giving of such telephonic notice, but the failure to provide such written confirmation shall not affect the validity of the request. All Borrowing requests Requests which are not made on-line via Agent's ’s electronic platform or portal shall be subject to (and unless Agent elects otherwise in the exercise of its sole discretion discretion, such Borrowings shall not be made until) until the completion of of) Agent's ’s authentication process (with results satisfactory to Agent) prior to the funding of any such requested Revolving Loan.

Appears in 1 contract

Samples: Credit Agreement (Connecture Inc)

Procedure for Borrowing Revolving Loans. Each Borrowing shall be made by a written request (a “Notice of Borrowing”) by an Authorized Person Officer delivered to Administrative Agent (which may be delivered through the Administrative Agent's ’s electronic platform or portal) and received by Administrative Agent no later than 10:00 a.m. (i) on the Business Day that is the requested Funding Date in the case of a request for a Swing Loan, and (ii) on the Business Day that is 1 Business Day prior to the requested Funding Date in the case of a all other requestsa request for a Base Rate Loan, and (iii) on the U.S. Government Securities Business Day that is 3 three U.S. Government Securities Business Days prior to the requested Funding Date in the case of all other requestsa request for a SOFR Loan, specifying (A) the amount of such Borrowing, and (B) the requested Funding Date (which shall be a Business Day); provided, that Administrative Agent may, in its sole discretion, elect to accept as timely requests that are received later than 10:00 a.m. on the applicable Business Day. At or U.S. Government Securities Business Day, as applicable. All Borrowing requests which are not made on-line via Administrative Agent's ’s election, in lieu of delivering the above-described written request, any Authorized Person Officer may give giveelectronic platform or portal shall be subject to (and unless Administrative Agent telephonic notice of such request by the required time. In such circumstances, Borrower Xxxxxxxx agrees that any such telephonic notice will be confirmed in writing within 24 hours of the giving of such telephonic notice, but the failure to provide such written confirmation shall not affect the validity of the request. All Borrowing requests which are not made on-line via Agent's electronic platform or portal shall be subject to (and unless Agent elects request.elects otherwise in the exercise of its sole discretion discretion, such Borrowings shall not be made until) until the completion of of) Administrative Agent's ’s authentication process (with results reasonably satisfactory to Administrative Agent) prior to the funding of any such requested Revolving LoanBorrowing.

Appears in 1 contract

Samples: Credit and Guarantee Agreement (Janus International Group, Inc.)

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Procedure for Borrowing Revolving Loans. Each Borrowing shall be made by a written request in the form attached hereto as Exhibit B-1 (a “Notice of Borrowing”) by an Authorized Person Officer of the applicable Borrower delivered to Agent (which may be delivered through Agent's electronic platform or portal) and received by Agent no later than 10:00 a.m. 2:00 p.m. (ix) on the Business Day that is the requested Funding Date in the case of a request for a Swing Loan, three (ii3) on the Business Day that is 1 Business Day prior to the requested Funding Date in the case of a request for a Base Rate Loan, and (iii) on the Business Day that is 3 Business Days prior to the requested Funding Date for any Borrowing of a Base Rate Loan and (y) on the Business Day that is three (3) Business Days prior to the requested Funding Date for any Borrowing of a LIBOR Rate Loan, specifying, in the case of all other requestseach case, specifying (A) the amount of such Borrowing, and (B) the requested Funding Date (which shall be a Business Day); provided, that (i) a Notice of Borrowing in respect of any Borrowing to be made on the Closing Date may be delivered no later than 5:00 p.m. on the Business Day prior to the Closing Date and (ii) Agent may, at the direction of the Required Lenders in its their sole discretion, elect to accept as timely requests that are received later than 10:00 a.m. 2:00 p.m. on the applicable Business Day. At Agent's ’s election, in lieu of delivering the above-described written request, any Authorized Person Officer of the applicable Borrower may give Agent telephonic notice of such request by the required time. In such circumstances, the Borrower agrees that any such telephonic notice will be confirmed in writing within 24 hours one (1) Business Day of the giving of such telephonic notice, but the failure to provide such written confirmation shall not affect the validity of the request. All The Borrowing requests which are not made on-line via Agent's electronic platform or portal of any LIBOR Rate Loan shall be subject to (and unless Agent elects otherwise in the exercise provisions of its sole discretion such Borrowings shall not be made until) the completion of Agent's authentication process (with results satisfactory to Agent) prior to the funding of any such requested Revolving LoanSection 2.12.

Appears in 1 contract

Samples: Credit Agreement (Egalet Corp)

Procedure for Borrowing Revolving Loans. Each Borrowing shall be made by a written request by an Authorized Person delivered to Agent (which may be delivered through Agent's electronic platform or portal) and received by Agent no later than 10:00 a.m. 1:00 p.m. (i) on the Business Day that is the requested Funding Date in the case of a request for a Swing Loan, (ii) on the Business Day that is 1 Business Day prior to the requested Funding Date in the case of a request for a Base Rate Loan or, if available, a Swing Loan, and (iiiii) on the Business Day that is 3 Business Days prior to the requested Funding Date in the case of all other requestsa CDOR Rate Loan and on the RFR Business Day that is 3 RFR Business Days prior to the requested Funding Date in the case of a request for a SOFR Rate Loan, in each case, specifying (A) the amount and type of such Borrowing, and whether in Canadian Dollars or US Dollars, as applicable and (B) with respect to any Non-Base Rate Loan, the Interest Period therefor and (C) the requested Funding Date (which shall be a Business Day); provided, that Agent may, in its sole discretion, elect to accept as timely requests that are received later than 10:00 a.m. 1:00 p.m. on the applicable Business Day. At Agent's ’s election, in lieu of delivering the above-described written request, any Authorized Person may give Agent telephonic notice of such request by the required time. In such circumstances, Borrower agrees that any such telephonic notice will be confirmed by Administrative Borrower in writing within 24 hours of the giving of such telephonic notice, but the failure to provide such written confirmation shall not affect the validity of the request. All Borrowing If Borrower requests which are not made ona borrowing of Non-line via Agent's electronic platform or portal shall be subject to (and unless Agent elects otherwise Base Rate Loans in the exercise of its sole discretion such Borrowings shall not be made until) the completion of Agent's authentication process (with results satisfactory to Agent) prior to the funding of any such requested Revolving Loanrequest, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one month.

Appears in 1 contract

Samples: Credit Agreement (Birks Group Inc.)

Procedure for Borrowing Revolving Loans. Each Borrowing shall be made by a written request by an Authorized Person delivered to Agent (which may be delivered through Agent's ’s electronic platform or portal) and received by Agent no later than 10:00 a.m. (i) on the Business Day that is the requested Funding Date in the case of a request for a Swing Loan, (ii) on the Business Day that is 1 Business Day prior to the requested Funding Date in the case of a request for a Base Rate Loan, and (iii) on the Business Day that is 3 Business Days prior to the requested Funding Date in the case of all other requests, specifying (A) the amount of such Borrowing, and (B) the requested Funding Date (which shall be a Business Day); provided, that Agent may, in its sole discretion, elect to accept as timely requests that are received later than 10:00 a.m. on the applicable Business Day. At Agent's ’s election, in lieu of delivering the above-described written request, any Authorized Person may give Agent telephonic notice of such request by the required time. In such circumstances, Borrower agrees Borrowers agree that any such telephonic notice will be confirmed in writing within 24 hours of the giving of such telephonic notice, but the failure to provide such written confirmation shall not affect the validity of the request. All Borrowing requests which are not made on-line via Agent's ’s electronic platform or portal shall be subject to (and unless Agent elects otherwise in the exercise of its sole discretion discretion, such Borrowings shall not be made until) until the completion of of) Agent's ’s authentication process (with results satisfactory to Agent) prior to the funding of any such requested Revolving Loan.

Appears in 1 contract

Samples: Credit Agreement (Paycor Hcm, Inc.)

Procedure for Borrowing Revolving Loans. Each Borrowing shall be made by a written request by an Authorized Person delivered to Administrative Agent (which may be delivered through Agent's ’s electronic platform or portal) and received by Administrative Agent no later than 10:00 a.m. noon (ib) on the Business Day that is the requested Funding Date in the case of a request for a Swing Loan, (iic) on the Business Day that is 1 Business Day prior to the requested Funding Date in the case of a request for a Base Rate Loan, and (iiid) on the Business Day that is 3 12 Business Days DayDays prior to the requested Funding Date in the case of all other requests, specifying (A) the amount of such Borrowing, and (B) the requested Funding Date (which shall be a Business Day); provided, that Administrative Agent may, in its sole discretion, elect to accept as timely requests that are received later than 10:00 a.m. noon on the applicable Business Day. At Administrative Agent's ’s election, in lieu of delivering the above-described written request, any Authorized Person may give Administrative Agent telephonic notice of such request by the required time. In such circumstances, Borrower agrees Borrowers agree that any such telephonic notice will be confirmed in writing within 24 hours of the giving of such telephonic notice, but the failure to provide such written confirmation shall not affect the validity of the request. All requestAll Borrowing requests which are not made on-line via Agent's ’s electronic platform or portal shall be subject to (and unless Agent elects otherwise in the exercise of its sole discretion discretion, such Borrowings shall not be made until) until the completion of of) Agent's ’s authentication process (with results satisfactory to Agent) prior to the funding of any such requested Revolving Loan.

Appears in 1 contract

Samples: Credit Agreement (Anixter International Inc)

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