Procedure for Borrowing. The Company may borrow Loans under the Commitments during the Commitment Period on any Business Day, provided that the Company shall give the Administrative Agent irrevocable notice (which notice must be received by the Administrative Agent prior to 3:00 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 Loans are to be initially Eurodollar Loans or (b) one (1) Business Day prior to the requested Borrowing Date, otherwise), specifying (i) the amount to be borrowed, (ii) the requested Borrowing Date, (iii) whether the borrowing is to be of Eurodollar Loans, Fed Rate Loans or a combination thereof and (iv) if the borrowing is to be entirely or partly of Eurodollar Loans, the amount of such Type of Loan and the length of the initial Interest Periods therefor. Each borrowing of Loans pursuant to the Commitments shall be in an aggregate principal amount equal to the lesser of (i) $5,000,000 or a whole multiple thereof, and (ii) the Available Commitments. Upon receipt of any such notice, the Administrative Agent shall promptly notify each Bank thereof. Each Bank will make available to the Company at the office of the Administrative Agent specified in Section 12.2, prior to 12:00 noon (New York City time) on the requested Borrowing Date, or as soon as practicable thereafter, an amount in immediately available funds equal to the amount of the Loan to be made by such Bank.
Appears in 4 contracts
Sources: Credit Agreement (Lazard LTD), Credit Agreement (Lazard Group LLC), Credit Agreement (Lazard LTD)
Procedure for Borrowing. The Company may borrow Loans under the Commitments during the Commitment Period on any Business Day, provided that the Company Borrower shall give the Administrative Agent irrevocable notice (which notice must be executed by a Responsible Officer of the Borrower and received by the Administrative Agent prior to 3:00 P.M.(a) 11:00 A.M., New York City time, (a) three (3) two Business Days prior to the requested Borrowing anticipated Closing Date, if all or any part in the case of the requested Loans are to be initially Eurodollar Loans or and (b) one (1) Business Day prior to 12:00 Noon, New York City time, on the requested Borrowing Closing Date, otherwise), specifying in the case of ABR Loans) requesting that the Lenders make the Loans on the Closing Date. Such notice shall specify (i) the amount to be borrowed, (ii) the requested Borrowing Date, (iii) whether the borrowing is to be of Eurodollar Loans, Fed Rate ABR Loans or a combination thereof and (iviii) if the borrowing is to be entirely or partly of Eurodollar Loans, the amount of such Type of Loan and the length respective lengths of the initial Interest Periods therefor. Each borrowing of Loans pursuant to the Commitments shall be in an aggregate principal amount equal to the lesser of (i) $5,000,000 or a whole multiple thereof, and (ii) the Available Commitments. Upon receipt of any such noticenotice from the Borrower, the Administrative Agent shall promptly notify each Bank Lender thereof. Each Bank will Not later than 1:00 P.M., New York City time, on the Closing Date each Lender shall make the amount of its pro rata share of each borrowing available to the Company Administrative Agent for the account of the Borrower at the office of the Administrative Agent specified in Section 12.2, prior to 12:00 noon (New York City time) on the requested Borrowing Date, or as soon as practicable thereafter, an amount 9.2 in immediately available funds equal to the amount of the Loan or Loans to be made by such BankLender. The Administrative Agent shall send by wire transfer of immediate available funds the aggregate of the amounts made available to the Administrative Agent by the Lenders to an account designated by the Borrower in writing to the Administrative Agent.
Appears in 3 contracts
Sources: Term Loan Credit Agreement (Southern California Edison Co), Term Loan Credit Agreement (Southern California Edison Co), Term Loan Credit Agreement (Edison International)
Procedure for Borrowing. The Company may borrow Loans under the Commitments during the Commitment Period on any Business Day, provided that the Company Borrower shall give the Administrative Agent irrevocable notice (notice, which notice must be executed by a Responsible Officer of the Borrower and received by the Administrative Agent prior to 3:00 P.M.(a) 11:00 A.M., New York City time, (a) three (3) two Business Days prior to the requested Borrowing anticipated Closing Date, if all or any part in the case of the requested Loans are to be initially Eurodollar Loans Loans, or (b) one (1) Business Day prior to 11:00 A.M. New York City time, on the requested Borrowing Closing Date, otherwise)in the case of ABR Loans, specifying requesting that the Lenders make the Loans on the Closing Date. Such notice shall specify (i) the amount to be borrowed, (ii) the requested Borrowing Closing Date, (iii) whether the borrowing is to be of Eurodollar Loans, Fed Rate Loans ABR Loans, or a combination thereof and thereof, (iv) if the borrowing is to be entirely or partly of Eurodollar Loans, the amount of such Type of Loan and the length respective lengths of the initial Interest Periods therefor. Each borrowing of Loans pursuant to the Commitments shall be in an aggregate principal amount equal to the lesser of (i) $5,000,000 or a whole multiple thereof, therefor and (iiv) the Available Commitmentsaccount into which such borrowing is to be deposited. Upon receipt of any such noticenotice from the Borrower, the Administrative Agent shall promptly notify each Bank Lender thereof. Each Bank will Not later than 1:00 P.M., New York City time, on the Closing Date each Lender shall make the amount of its pro rata share of each borrowing available to the Company Administrative Agent for the account of the Borrower at the office of the Administrative Agent specified in Section 12.2, prior to 12:00 noon (New York City time) on the requested Borrowing Date, or as soon as practicable thereafter, an amount 9.2 in immediately available funds equal to the amount of the Loan or Loans to be made by such BankLender. The Administrative Agent shall send by wire transfer of immediate available funds the aggregate of the amounts made available to the Administrative Agent by the Lenders to the account designated by the Borrower in such notice to the Administrative Agent.
Appears in 2 contracts
Sources: Term Loan Credit Agreement (SOUTHERN CALIFORNIA EDISON Co), Term Loan Credit Agreement (SOUTHERN CALIFORNIA EDISON Co)
Procedure for Borrowing. The Company may borrow Loans under the Commitments during the Commitment Period on any Business Day, provided that the Company shall give the Administrative Agent irrevocable notice (which notice must be received by the Administrative Agent prior to 3:00 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 Loans are to be initially Eurodollar Loans or (b) one (1) Business Day prior to the requested Borrowing Date, otherwise), specifying (i) the amount to be borrowed, (ii) the requested Borrowing Date, (iii) whether the borrowing is to be of Eurodollar Loans, Fed Rate Loans or a combination thereof and (iv) if the borrowing is to be entirely or partly of Eurodollar Loans, the amount of such Type of Loan and the length of the initial Interest Periods therefor. Each borrowing of Loans pursuant to the Commitments shall be in an aggregate principal amount equal to the lesser of (i) $5,000,000 or a whole multiple thereof, and (ii) the Available Commitments. Upon receipt of any such notice, the Administrative Agent shall promptly notify each Bank thereof. Each Bank will make available to the Company at the office of the Administrative Agent specified in Section 12.2, prior to 12:00 noon (New York City time) on the requested Borrowing Date, or as soon as practicable thereafter, an amount in immediately available funds equal to the amount of the Loan to be made by such Bank.
Appears in 2 contracts
Sources: Credit Agreement (Lazard LTD), Credit Agreement (Lazard Group LLC)
Procedure for Borrowing. The Company may borrow Loans under the Commitments during the Commitment Period on any Business Day, provided that the Company shall give the Administrative Agent irrevocable notice (which notice must be received by the Administrative Agent prior to 3:00 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 Loans are to be initially Eurodollar Loans or (b) one (1) Business Day prior to the requested Borrowing Date, otherwise), specifying (i) the amount to be borrowed, (ii) the requested Borrowing Date, (iii) whether the borrowing is to be of Eurodollar Loans, Fed Base Rate Loans or a combination thereof and (iv) if the borrowing is to be entirely or partly of Eurodollar Loans, the amount of such Type of Loan and the length of the initial Interest Periods therefor. Each borrowing of Loans pursuant to the Commitments shall be in an aggregate principal amount equal to the lesser of (i) $5,000,000 or a whole multiple thereof, and (ii) the Available Commitments. Upon receipt of any such notice, the Administrative Agent shall promptly notify each Bank thereof. Each Bank will make available to the Company at the office of the Administrative Agent specified in Section 12.2, prior to 12:00 noon (New York City time) on the requested Borrowing Date, or as soon as practicable thereafter, an amount in immediately available funds equal to the amount of the Loan to be made by such Bank.
Appears in 2 contracts
Sources: Credit Agreement (Lazard LTD), Credit Agreement (Lazard Group LLC)
Procedure for Borrowing. The Company may borrow Loans under the Commitments during the Commitment Period on any Business Day, provided that the Company shall give the Administrative Agent irrevocable notice (which notice must be received by the Administrative Agent Agent, (a) prior to 3:00 1:00 P.M., New York City time, (a) time three (3) Business Days prior to the requested Borrowing Date, if all or any part of the requested Loans are to be initially Eurodollar Loans or (b) one (1) Business Day prior to 11:00 A.M., New York City time on or prior to the requested Borrowing Date, otherwiseif all of the requested Loans are to be initially Base Rate Loans), specifying (i) the amount to be borrowed, (ii) the requested Borrowing Date, (iii) whether the borrowing is to be of Eurodollar Loans, Fed Base Rate Loans or a combination thereof and (iv) if the borrowing is to be entirely or partly of Eurodollar Loans, the amount of such Type of Loan and the length of the initial Interest Periods therefor. Each borrowing of Loans pursuant to the Commitments shall be in an aggregate principal amount equal to the lesser of (i) $5,000,000 or a whole multiple thereof, and (ii) the Available Commitments. Upon receipt of any such notice, the Administrative Agent shall promptly notify each Bank thereof. Each Bank will make available to the Company at the office of the Administrative Agent specified in Section 12.2, prior to 12:00 noon (New York City time) on the requested Borrowing Date, or as soon as practicable thereafter, an amount in immediately available funds equal to the amount of the Loan to be made by such Bank.
Appears in 2 contracts
Sources: Credit Agreement (Lazard LTD), Credit Agreement (Lazard Group LLC)
Procedure for Borrowing. The Company may borrow Loans under the Commitments during the Commitment Period on any Business Day, provided that the Company shall give the Administrative Agent irrevocable notice (which notice must be received by the Administrative Agent Agent, (a) prior to 3:00 1:00 P.M., New York City time, (a) time three (3) U.S. Government Securities Business Days prior to the requested Borrowing Date, if all or any part of the requested Loans are to be initially Eurodollar Term SOFR Loans or (b) one (1) Business Day prior to 11:00 A.M., New York City [[DMS:6095583v3:05/23/2023--01:55 PM]] time on or prior to the requested Borrowing Date, otherwiseif all of the requested Loans are to be initially Base Rate Loans), specifying (i) the amount to be borrowed, (ii) the requested Borrowing Date, (iii) whether the borrowing is to be of Eurodollar Term SOFR Loans, Fed Base Rate Loans or a combination thereof and (iv) if the borrowing is to be entirely or partly of Eurodollar Term SOFR Loans, the amount of such Type of Loan and the length of the initial Interest Periods therefor. Each borrowing of Loans pursuant to the Commitments shall be in an aggregate principal amount equal to the lesser of (i) $5,000,000 or a whole multiple thereof, and (ii) the Available Commitments. Upon receipt of any such notice, the Administrative Agent shall promptly notify each Bank thereof. Each Bank will make available to the Company at the office of the Administrative Agent specified in Section 12.2, prior to 12:00 noon (New York City time) on the requested Borrowing Date, or as soon as practicable thereafter, an amount in immediately available funds equal to the amount of the Loan to be made by such Bank.
Appears in 1 contract
Sources: Credit Agreement (Lazard Group LLC)
Procedure for Borrowing. The Company may borrow Loans under the Commitments during the Commitment Period on any Business Day, provided that the Company Borrower shall give the Administrative Agent irrevocable notice (which notice must be executed by a Responsible Officer of the Borrower and received by the Administrative Agent prior to 3:00 P.M., New York City time, (a) 11:00 A.M., Eastern time, three (3) U.S. Government Securities Business Days prior to the requested Borrowing Closing Date, if all or any part in the case of the requested SOFR Loans are to be initially Eurodollar Loans or and (b) one (1) Business Day prior to 11:00 A.M., Eastern time, on the requested Borrowing Closing Date, otherwise), specifying in the case of ABR Loans) requesting that the Lenders make the Loans on the Closing Date. Such notice shall specify (i) the amount to be borrowed, (ii) the requested Borrowing Closing Date, (iii) whether the borrowing is to be of Eurodollar SOFR Loans, Fed Rate ABR Loans or a combination thereof and thereof, (iv) if the borrowing is to be entirely or partly of Eurodollar SOFR Loans, the amount of such Type of Loan and the length respective lengths of the initial Interest Periods therefor. Each borrowing of Loans pursuant to the Commitments shall be in an aggregate principal amount equal to the lesser of (i) $5,000,000 or a whole multiple thereof, therefor and (iiv) the Available Commitmentsaccount into which such borrowing is to be deposited. Upon receipt of any such noticenotice from the Borrower, the Administrative Agent shall promptly notify each Bank Lender thereof. Each Bank will Not later than 1:00 P.M., Eastern time, on the Closing Date each Lender shall make the amount of its pro rata share of each borrowing available to the Company Administrative Agent for the account of the Borrower at the office of the Administrative Agent specified in Section 12.2, prior to 12:00 noon (New York City time) on the requested Borrowing Date, or as soon as practicable thereafter, an amount 9.2 in immediately available funds equal to the amount of the Loan or Loans to be made by such BankLender. The Administrative Agent shall send by wire transfer of immediate available funds the aggregate of the amounts made available to the Administrative Agent by the Lenders to the account designated by the Borrower in such notice to the Administrative Agent.
Appears in 1 contract
Procedure for Borrowing. The Company may borrow Loans under the Commitments during the Commitment Period on any Business Day, provided that the Company Borrower shall give deliver to the Administrative Agent irrevocable notice a fully executed Funding Notice (which notice shall be irrevocable and must be received by the Administrative Agent prior to 3:00 P.M.11:00 A.M., New York City time, (a) three (3) Business Days prior to the requested Borrowing Date, if all or any part in the case of the requested Loans are to be initially Eurodollar Loans (or such shorter period as may be acceptable to the Administrative Agent), or (b) one (1) Business Day prior to the requested Borrowing Date, otherwisein the case of ABR Loans), specifying (i) the amount and Type of Loans to be borrowed, (ii) the requested Borrowing Date, Date and (iii) whether in the borrowing is to be of Eurodollar Loans, Fed Rate Loans or a combination thereof and (iv) if the borrowing is to be entirely or partly case of Eurodollar Loans, the amount respective amounts of each such Type of Loan and the length respective lengths of the initial Interest Periods Period therefor. Each borrowing of Loans pursuant to the Commitments shall be in an aggregate principal amount equal to the lesser of (i) $5,000,000 or a whole multiple thereof, and (ii) the Available Commitments. Upon receipt of any such noticenotice from Borrower, the Administrative Agent shall promptly notify each Bank Lender thereof. Each Bank Lender will make the amount of its pro rata share available to the Company Administrative Agent for the account of Borrower at the office of the Administrative Agent specified in Section 12.2, Funding Office prior to 12:00 noon (1:00 P.M., New York City time) , on the requested Borrowing Date, or as soon as practicable thereafter, an amount Closing Date in funds immediately available funds equal to the amount Administrative Agent. Upon satisfaction or waiver of the Loan to conditions precedent specified herein, such borrowing will then be made available to Borrower by the Administrative Agent crediting the account of Borrower on the books of such Bankoffice with the aggregate of the amounts made available to the Administrative Agent by the Lenders and in like funds as received by the Administrative Agent.
Appears in 1 contract
Procedure for Borrowing. (a) Term Loans may only be borrowed in a single drawing on the Closing Date. The Company may borrow Loans under the Commitments during the Commitment Period on any Business Day, provided that the Company shall give the Administrative Agent irrevocable written notice (which notice must be received by the Administrative Agent prior to 3:00 P.M.12:00 noon, New York City time, (ai) three (3) Business Days prior to the requested Borrowing Date, Closing Date if all or any part of the requested Term Loans are to be initially Eurodollar Loans or and (bii) one (1) Business Day prior to the requested Borrowing Date, otherwise), specifying (i) the amount to be borrowed, (ii) the requested Borrowing Date, (iii) whether Closing Date if the borrowing is to be solely of Alternate Base Rate Loans) and specifying (A) the amount of the borrowing, (B) whether such Term Loans are initially to be Eurodollar Loans, Fed Loans or Alternate Base Rate Loans or a combination thereof and (ivC) if the borrowing is to be entirely or partly of Eurodollar Loans, the amount of such Type of Loan and the length of the initial Interest Periods therefor. Each borrowing of Loans pursuant to the Commitments shall be in an aggregate principal amount equal to the lesser of (i) $5,000,000 or a whole multiple thereof, and (ii) the Available CommitmentsPeriod for such Eurodollar Loans. Upon receipt of any such notice, notice the Administrative Agent shall promptly notify each Bank thereofLender. Each Bank will Not later than 12:00 noon, New York City time, on the Closing Date, each Lender shall make available to the Company Administrative Agent at the office of the Administrative Agent specified in Section 12.2, prior to 12:00 noon subsection 12.2 (New York City timeor at such other location as the Administrative Agent may direct) on the requested Borrowing Date, or as soon as practicable thereafter, an amount in immediately available funds equal to the amount of the Term Loan to be made by such BankLender. Term Loan proceeds received by the Administrative Agent hereunder shall promptly be made available to the Company by wire transfer, intra bank transfer or bank credit to the account of the Company specified in such notice, with the aggregate amount actually received by the Administrative Agent from the Lenders and in like funds as received by the Administrative Agent.
Appears in 1 contract
Procedure for Borrowing. The Company may borrow Loans under the Commitments during the Commitment Period on any Business Day, provided that the Company Borrower shall give deliver to the Administrative Agent irrevocable notice (which notice must be received by the Administrative Agent prior to 3:00 P.M.a Borrowing Request, not later than 11:00 a.m., New York City time, (a) three (3) Business Days prior to the requested Borrowing Date, if all or any part of the requested Loans are to be initially Eurodollar Loans or (b) one (1) Business Day prior to before the requested anticipated Closing Date requesting that the Lenders make the Closing Date Loans on the Closing Date. The Borrowing Date, otherwise), specifying Request must specify (i) the principal amount of the Closing Date Loans to be borrowed, (ii) the requested date of the Borrowing Date(which shall be a Business Day), (iii) whether the borrowing is Type of Closing Date Loans to be of Eurodollar Loansborrowed, Fed Rate Loans or a combination thereof and (iv) if in the borrowing is to be entirely or partly case of a Eurodollar LoansBorrowing, the amount of such Type of Loan and the length of the initial Interest Periods therefor. Each borrowing of Loans pursuant Period to the Commitments be applicable thereto, which shall be in an aggregate principal amount equal to a period contemplated by the lesser definition of (i) $5,000,000 or a whole multiple thereof, the term “Interest Period” and (iiv) the Available Commitmentslocation and number of the Borrower’s account to which funds are to be disbursed, which shall comply with the requirements of Section 2.8. Upon receipt of any such notice, Borrowing Request the Administrative Agent shall promptly notify each Bank Lender thereof. Each Bank will Not later than 10:00 a.m., New York City time (or, if later, promptly following the satisfaction of the conditions precedent to the initial extension of credit hereunder set forth in Section 4.1), on the Closing Date each Lender shall make available to the Company at the office of the Administrative Agent specified in Section 12.2, prior to 12:00 noon (New York City time) on the requested Borrowing Date, or as soon as practicable thereafter, an amount in immediately available funds equal to the amount of the Loan Closing Date Loans to be made by such BankLender. The Administrative Agent shall make available to the Borrower the aggregate of the amounts made available to the Administrative Agent by the Lenders, in like funds as received by the Administrative Agent.
Appears in 1 contract
Sources: Second Lien Credit Agreement (Continental Building Products, Inc.)
Procedure for Borrowing. The Company Borrowers may borrow Loans under the Commitments during the Commitment Period on any Business Day, provided that the Company Borrowers shall give the Administrative Agent irrevocable notice (which notice must be received by the Administrative Agent prior to 3:00 P.M.12:00 Noon, New York City time, (a) three (3) Business Days prior to the requested Borrowing Date, if all or any part in the case of the requested Loans are to be initially Eurodollar Loans Loans, or (b) one (1) Business Day prior to the requested Borrowing Date, otherwisein the case of Base Rate Loans), specifying (i) the amount and Type of Loans to be borrowed, (ii) the requested Borrowing Date, Date and (iii) whether in the borrowing is to be of Eurodollar Loans, Fed Rate Loans or a combination thereof and (iv) if the borrowing is to be entirely or partly case of Eurodollar Loans, the amount respective amounts of each such Type of Loan and the length respective lengths of the initial Interest Periods Period therefor. Each borrowing of Loans pursuant to under the Commitments shall be in an aggregate principal amount equal to (x) in the case of Base Rate Loans, $1,000,000 or a whole multiple thereof (or, if the then aggregate Available Commitments are less than $1,000,000, such lesser amount) and (y) in the case of (i) Eurodollar Loans, $5,000,000 or a whole multiple of $1,000,000 in excess thereof, and (ii) the Available Commitments. Upon receipt of any such noticenotice from the Borrowers, the Administrative Agent shall promptly notify each Bank Lender thereof. Each Bank Lender will make the amount of its pro rata share of each borrowing available to the Company Administrative Agent for the account of the Borrowers at the office of the Administrative Agent specified in Section 12.2, Funding Office prior to 12:00 noon (Noon, New York City time) , on the Borrowing Date requested Borrowing Date, or as soon as practicable thereafter, an amount by the Borrowers in funds immediately available funds equal to the amount of the Loan to Administrative Agent. Such borrowing will then be made available to the Borrowers by such Bankthe Administrative Agent in like funds as received by the Administrative Agent.
Appears in 1 contract
Procedure for Borrowing. The Company may borrow Loans under the Commitments during the Commitment Period on any Business Day, provided that the Company Borrower shall give the Administrative Agent irrevocable notice (which notice must be executed by a Responsible Officer of the Borrower and received by the Administrative Agent prior to 3:00 P.M., New York City time, (a) three (3) 11:00 A.M., Eastern time, two U.S. Government Securities Business Days prior to the requested Borrowing Closing Date, if all or any part in the case of the requested SOFR Loans are to be initially Eurodollar Loans or and (b) 11:00 A.M., Eastern time, one (1) Business Day prior to the requested Borrowing Closing Date, otherwise), specifying in the case of ABR Loans) requesting that the Lenders make the Loans on the Closing Date. Such notice shall specify (i) the amount to be borrowed, (ii) the requested Borrowing Closing Date, (iii) whether the borrowing is to be of Eurodollar SOFR Loans, Fed Rate ABR Loans or a combination thereof and thereof, (iv) if the borrowing is to be entirely or partly of Eurodollar SOFR Loans, the amount of such Type of Loan and the length respective lengths of the initial Interest Periods therefor. Each borrowing of Loans pursuant to the Commitments shall be in an aggregate principal amount equal to the lesser of (i) $5,000,000 or a whole multiple thereof, therefor and (iiv) the Available Commitmentsaccount into which such borrowing is to be deposited. Upon receipt of any such noticenotice from the Borrower, the Administrative Agent shall promptly notify each Bank Lender thereof. Each Bank will Not later than 1:00 P.M., Eastern time, on the Closing Date each Lender shall make the amount of its pro rata share of each borrowing available to the Company Administrative Agent for the account of the Borrower at the office of the Administrative Agent specified in Section 12.2, prior to 12:00 noon (New York City time) on the requested Borrowing Date, or as soon as practicable thereafter, an amount 9.2 in immediately available funds equal to the amount of the Loan or Loans to be made by such BankLender. The Administrative Agent shall send by wire transfer of immediate available funds the aggregate of the amounts made available to the Administrative Agent by the Lenders to the account designated by the Borrower in such notice to the Administrative Agent.
Appears in 1 contract
Sources: Term Loan Credit Agreement (SOUTHERN CALIFORNIA EDISON Co)
Procedure for Borrowing. The Company may borrow Loans under As a condition precedent to borrowing hereunder, the Commitments during the Commitment Period on any Business Day, provided that the Company Borrower shall give the Administrative Agent an irrevocable notice substantially in the form of Exhibit B-1 on or prior to the Funding Date (which notice must be received by the Administrative Agent prior to 3:00 P.M.10:00 a.m., New York City time, (a) three (3) Business Days prior to time on the requested Borrowing Funding Date, if all or any part of the requested Loans are to be initially Eurodollar Loans or (b) one (1) Business Day prior to the requested Borrowing Date, otherwise), specifying (i1) that a Loan is requested, (2) the aggregate amount to be borrowed, (ii3) the requested Borrowing Funding Date, (iii4) whether the borrowing is to be of Eurodollar Loans, Fed Alternate Base Rate Loans or a combination thereof and thereof, (iv5) if the borrowing is to be entirely or partly of Eurodollar Loans, the amount amounts of such Type of Loan Eurodollar Loans and the length lengths of the initial Interest Periods therefor. Each borrowing of Loans pursuant to the Commitments shall be in an aggregate principal amount equal to the lesser of (i) $5,000,000 or a whole multiple thereof, therefor and (ii6) the Available Commitmentsnumber and the location of the account to which the proceeds are to be disbursed (consistent with the provisions of hereof). Upon receipt of any such noticenotice from the Borrower, the Administrative Agent shall promptly notify each Bank Lender thereof. Each Bank Lender will make the amount of its pro rata share of each borrowing available to the Company Administrative Agent for the account of the Borrower at the office of the Administrative Agent specified in Section 12.2, 9.2 prior to 12:00 noon (11:00 a.m., New York City time) , on the date requested Borrowing Date, or as soon as practicable thereafter, an amount by the Borrower in funds immediately available funds equal to the amount Administrative Agent. Such borrowing will then be made available to the Borrower by the Administrative Agent in the manner specified by the Borrower in such Notice of Borrowing in the aggregate of the Loan amounts made available to the Administrative Agent by the Lenders and in like funds as received by the Administrative Agent. If the Borrower fails to indicate the initial Interest Periods in such notice, the Interest Period shall be made by such Bankone month.
Appears in 1 contract
Sources: Credit Agreement (Northwestern Corp)
Procedure for Borrowing. The Company may borrow Loans under the Commitments during the Commitment Period on any Business Day, provided that the Company shall give the Administrative Agent irrevocable notice (which notice must be received by the Administrative Agent Agent, (a) prior to 3:00 1:00 P.M., New York City time, (a) time three (3) U.S. Government Securities Business Days prior to the requested Borrowing Date, if all or any part of the requested Loans are to be initially Eurodollar Term SOFR Loans or (b) one (1) Business Day prior to 11:00 A.M., New York City time on or prior to the requested Borrowing Date, otherwiseif all of the requested Loans are to be initially Base Rate Loans), specifying (i) the amount to be borrowed, (ii) the requested Borrowing Date, (iii) whether the borrowing is to be of Eurodollar Term SOFR Loans, Fed Base Rate Loans or a combination thereof and (iv) if the borrowing is to be entirely or partly of Eurodollar Term SOFR Loans, the amount of such Type of Loan and the length of the initial Interest Periods therefor. Each borrowing of Loans pursuant to the Commitments shall be in an aggregate principal amount equal to the lesser of (i) $5,000,000 or a whole multiple thereof, and (ii) the Available Commitments. Upon receipt of any such notice, the Administrative Agent shall promptly notify each Bank thereof. Each Bank will make available to the Company at the office of the Administrative Agent specified in Section 12.2, prior to 12:00 noon (New York City time) on the requested Borrowing Date, or as soon as practicable thereafter, an amount in immediately available funds equal to the amount of the Loan to be made by such Bank.
Appears in 1 contract
Sources: Credit Agreement (Lazard, Inc.)
Procedure for Borrowing. The Company may borrow Loans under the Commitments during the Commitment Period on any Business Day, provided that the Company shall give the Administrative Agent Banks irrevocable notice (which notice must be received by the Administrative Agent prior to 3:00 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 Loans are to be initially Eurodollar Loans or (b) one (1) Business Day prior to the requested Borrowing Date, otherwise), specifying (i) the amount to be borrowed, (ii) the requested Borrowing Date, (iii) whether the borrowing is to be of Eurodollar Loans, Fed Rate Loans or a combination thereof and (iv) if the borrowing is to be entirely or partly of Eurodollar Loans, the amount of such Type of Loan and the length of the initial Interest Periods therefor. Each borrowing of Loans pursuant to the Commitments shall be in an aggregate principal amount equal to the lesser of (i) $5,000,000 or a whole multiple thereof, and (ii) the Available Commitments. Upon receipt of any such notice, the Administrative Agent shall promptly notify each Bank thereof. Each Bank will make available to the Company at the office of the Administrative Agent specified in Section subsection 12.2, prior to 12:00 noon (New York City time) on the requested Borrowing Date, or as soon as practicable thereafter, an amount in immediately available funds equal to the amount of the Loan to be made by such Bank.
Appears in 1 contract
Procedure for Borrowing. The Company may borrow Loans under the Commitments during the Commitment Period on any Business Day, provided that the Company shall give the Administrative Agent irrevocable notice (which notice must be received by the Administrative Agent prior to 3:00 P.M., New York City time, (a) three (3The initial Borrowing under Section 2.01(a) Business Days prior to and each subsequent Borrowing occurring on a date other than an Advance Date specified on Schedule III shall be made after irrevocable notice, given not later than 11:00 a.m. on the requested Borrowing Date, if all or any part of the requested Loans are to be initially Eurodollar Loans or (b) one (1) third Business Day prior to the requested date of any Borrowing Dateby the Borrower to the Administrative Agent. Such irrevocable notice of Borrowing (“Notice of Borrowing”) shall be by telephone, otherwise)confirmed immediately in writing, or facsimile, in substantially the form of Exhibit B hereto, specifying therein (i) the amount to be borrowedrequested date of such Borrowing, (ii) the requested aggregate amount of such Borrowing Date(which shall be in the amount of either (A) the aggregate Available Commitments or, if less, (B) U.S.$10,000,000 or any whole multiple of U.S.$1,000,000 in excess thereof), (iii) whether the borrowing is to be use of Eurodollar Loans, Fed Rate Loans or a combination thereof proceeds in connection with such Borrowing and (iv) if the borrowing is to be entirely or partly of Eurodollar Loans, the amount of Interest Period for such Type of Loan and the length of the initial Interest Periods therefor. Each borrowing of Loans pursuant to the Commitments shall be in an aggregate principal amount equal to the lesser of (i) $5,000,000 or a whole multiple thereof, and (ii) the Available CommitmentsBorrowing. Upon receipt of any such noticeNotice of Borrowing, the Administrative Agent shall promptly notify the Applicable Lenders thereof by facsimile. Not later than 11:00 a.m. on the date of such Borrowing, each Bank thereof. Each Bank will Applicable Lender shall make available to the Company Administrative Agent at its office specified in Schedule 8.2 its applicable portion of such Borrowing (determined ratably in accordance with the office respective Available Commitments of the Applicable Lenders) in immediately available funds. Promptly upon the Administrative Agent’s receipt of such funds and the fulfillment or written waiver of the applicable conditions set forth in Article 4, the Administrative Agent specified in Section 12.2, prior to 12:00 noon (New York City time) on the requested Borrowing Date, or as soon as practicable thereafter, an amount in immediately will make such funds available funds equal directly to the amount of the Loan to be made by such BankBorrower.
Appears in 1 contract
Sources: Credit Agreement (Digicel Group LTD)
Procedure for Borrowing. The Company Borrower may borrow Loans under the Commitments during the Commitment Period on any Business Day, provided that the Company Borrower shall give the Administrative Agent each Lender irrevocable telephonic notice (which notice must be received by the Administrative Agent each Lender prior to 3:00 P.M.12:00 P.M. Noon, New York City timetime and must be promptly confirmed in writing), (a) three (3) Business Days prior to the requested Borrowing Date, if all or any part of the requested Loans are to be initially Eurodollar Loans or (b) one (1) on such Business Day prior to the requested Borrowing DateDay, otherwise), specifying (i) the amount to be borrowed, (ii) the requested Borrowing Date, (iii) whether the borrowing is to be of Eurodollar Loans, Fed Rate ABR Loans or a combination thereof and (iv) if the borrowing is to be entirely or partly of Eurodollar Loans, the amount of each such Type of Eurodollar Loan and the length respective lengths of the initial Interest Periods therefor. Each borrowing of Loans pursuant to from each Lender under the Commitments shall be in an aggregate principal amount equal to the lesser of (i) $5,000,000 500,000 or a whole multiple thereof, and (ii) the Available Commitments. Upon receipt of any such notice, the Administrative Agent shall promptly notify each Bank thereof. Each Bank Lender will make the amount of its pro rata share of each borrowing available to the Company at Borrower by crediting the office account of the Administrative Agent specified in Section 12.2, prior to 12:00 noon (New York City time) on Borrower maintained by the requested Borrowing Date, or as soon as practicable thereafter, an amount in immediately available funds equal to the amount of the Loan to be made by Borrower with such BankLender.
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Procedure for Borrowing. The Company may borrow Loans under the Commitments during the Commitment Period on any Business Day, provided that the Company Borrower shall give the Administrative Agent irrevocable notice (which notice must be executed by a Responsible Officer of the Borrower and received by the Administrative Agent prior to 3:00 P.M., New York City time, (a) three (3) 11:00 A.M., Eastern time, two U.S. Government Securities Business Days prior to the requested Borrowing Closing Date, if all or any part in the case of the requested SOFR Loans are to be initially Eurodollar Loans or and (b) one (1) Business Day prior to 11:00 A.M., Eastern time, on the requested Borrowing Closing Date, otherwise), specifying in the case of ABR Loans) requesting 18 that the Lenders make the Loans on the Closing Date. Such notice shall specify (i) the amount to be borrowed, (ii) the requested Borrowing Closing Date, (iii) whether the borrowing is to be of Eurodollar SOFR Loans, Fed Rate ABR Loans or a combination thereof and thereof, (iv) if the borrowing is to be entirely or partly of Eurodollar SOFR Loans, the amount of such Type of Loan and the length respective lengths of the initial Interest Periods therefor. Each borrowing of Loans pursuant to the Commitments shall be in an aggregate principal amount equal to the lesser of (i) $5,000,000 or a whole multiple thereof, therefor and (iiv) the Available Commitmentsaccount into which such borrowing is to be deposited. Upon receipt of any such noticenotice from the Borrower, the Administrative Agent shall promptly notify each Bank Lender thereof. Each Bank will Not later than 1:00 P.M., Eastern time, on the Closing Date each Lender shall make the amount of its pro rata share of each borrowing available to the Company Administrative Agent for the account of the Borrower at the office of the Administrative Agent specified in Section 12.2, prior to 12:00 noon (New York City time) on the requested Borrowing Date, or as soon as practicable thereafter, an amount 9.2 in immediately available funds equal to the amount of the Loan or Loans to be made by such BankLender. The Administrative Agent shall send by wire transfer of immediate available funds the aggregate of the amounts made available to the Administrative Agent by the Lenders to the account designated by the Borrower in such notice to the Administrative Agent.
Appears in 1 contract
Sources: Term Loan Credit Agreement (SOUTHERN CALIFORNIA EDISON Co)
Procedure for Borrowing. The Company may borrow Loans under the Commitments during the Commitment Period on any Business Day, provided that the Company Borrower shall give the Administrative Agent irrevocable notice (which notice must be executed by a Responsible Officer of the Borrower and received by the Administrative Agent prior to 3:00 P.M., New York City time, (a) three (3) Business Days prior to the requested Borrowing Date11:00 a.m., if all or any part of the requested Loans are to be initially Eurodollar Loans or (b) Eastern time, one (1) U.S. Government Securities Business Day prior to the requested Borrowing Closing Date, otherwise)in the case of SOFR Loans and (b) 11:00 a.m., specifying Eastern time, on the Closing Date, in the case of ABR Loans) requesting that the Lenders make the Loans on the Closing Date. Such notice shall specify (i) the amount to be borrowed, (ii) the requested Borrowing Closing Date, (iii) whether the borrowing is to be of Eurodollar SOFR Loans, Fed Rate ABR Loans or a combination thereof and thereof, (iv) if the borrowing is to be entirely or partly of Eurodollar SOFR Loans, the amount of such Type of Loan and the length respective lengths of the initial Interest Periods therefor. Each borrowing of Loans pursuant to the Commitments shall be in an aggregate principal amount equal to the lesser of (i) $5,000,000 or a whole multiple thereof, therefor and (iiv) the Available Commitmentsaccount into which such borrowing is to be deposited. Upon receipt of any such noticenotice from the Borrower, the Administrative Agent shall promptly notify each Bank Lender thereof. Each Bank will Not later than 1:00 p.m., Eastern time, on the Closing Date each Lender shall make the amount of its pro rata share of each borrowing available to the Company Administrative Agent for the account of the Borrower at the office of the Administrative Agent specified in Section 12.2, prior to 12:00 noon (New York City time) on the requested Borrowing Date, or as soon as practicable thereafter, an amount 9.2 in immediately available funds equal to the amount of the Loan or Loans to be made by such BankLender. The Administrative Agent shall send by wire transfer of immediate available funds on the Closing Date the aggregate of the amounts made available to the Administrative Agent by the Lenders to the account designated by the Borrower in such notice to the Administrative Agent.
Appears in 1 contract
Sources: Term Loan Credit Agreement (SOUTHERN CALIFORNIA EDISON Co)
Procedure for Borrowing. (a) The Company Borrower may borrow Loans (i) under the applicable Revolving Commitments during the applicable Revolving Commitment Period on any Business Day, Day and (ii) the Amendment No. 8 SISO Term Loans in a single draw on the Amendment No. 8 Effective Date; provided that the Company Borrower shall give the Administrative Agent irrevocable written notice (which notice must be received by the Administrative Agent in the case of Eurocurrency Loans denominated in Dollars, prior to 3:00 P.M.12:00 Noon, New York City time, (a) three (3) Business Days prior to the requested Borrowing Date, if all or any part in the case of ABR Loans up to $40 million, prior to 10:00 a.m., New York City time, on the requested proposed Borrowing Date, or in the case of ABR Loans are in excess of $40 million, prior to be initially Eurodollar Loans or (b) 1:00 p.m., New York City time, one (1) Business Day prior to the requested proposed Borrowing Date, otherwise), specifying (iw) the amount and Type of Loans to be borrowed, (iix) the requested Borrowing Date, (iii) whether the borrowing is to be of Eurodollar Loans, Fed Rate Loans or a combination thereof and (ivy) if in the borrowing is to be entirely or partly case of Eurodollar Eurocurrency Loans, the amount respective amounts of each such Type of Loan and the length respective lengths of the initial Interest Periods Period therefor. Each borrowing ; provided, further, that if the Borrower wishes to request Eurocurrency Loans having an Interest Period other than one, three or six months in duration as provided in the definition of Loans pursuant “Interest Period,” the applicable notice must be received by the Administrative Agent not later than 11:00 a.m. four Business Days prior to the Commitments requested date of such borrowing, conversion or continuation, whereupon the Administrative Agent shall be in an aggregate principal amount equal give prompt notice to the lesser appropriate Lenders of (i) $5,000,000 such request and determine whether the requested Interest Period is acceptable to all of them. Not later than 11:00 a.m., three Business Days before the requested date of such borrowing, conversion or a whole multiple thereof, and (ii) the Available Commitments. Upon receipt of any such noticecontinuation, the Administrative Agent shall promptly notify each Bank thereof. Each Bank will make available to the Company at the office of the Administrative Agent specified in Section 12.2, prior to 12:00 noon Borrower (New York City time) on the requested Borrowing Date, or as soon as practicable thereafter, an amount in immediately available funds equal to the amount of the Loan to which notice may be made by such Bank.by
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Procedure for Borrowing. (a) The Company Borrower may borrow Loans under the Revolving Commitments during the Revolving Commitment Period on any Business Day, provided that the Company Borrower shall give the Administrative Agent irrevocable notice (which notice must be received by the Administrative Agent prior to 3:00 P.M.11:00 a.m., New York City timeCentral Time, (a) in the case of Eurodollar Loans, three (3) Business Days prior to the requested Borrowing Date, if all or any part of the requested Loans are to be initially Eurodollar Loans or (b) one (1) Business Day prior to in the case of Base Rate Loans, on the requested Borrowing Date, otherwise), specifying (i) the amount and Type of Loans to be borrowed, (ii) the requested Borrowing Date, Date and (iii) whether in the borrowing is to be of Eurodollar Loans, Fed Rate Loans or a combination thereof and (iv) if the borrowing is to be entirely or partly case of Eurodollar Loans, the amount respective amounts of each such Type of Loan and the length respective lengths of the initial Interest Periods thereforPeriod therefore. Each borrowing of Loans pursuant to under the Revolving Commitments shall be in an aggregate principal amount equal to (x) in the lesser case of (i) Base Rate Loans, $5,000,000 1,000,000 or a whole multiple thereofof $500,000 in excess thereof (or, if the then aggregate Available Revolving Commitments are less than $500,000, such lesser amount) and (iiy) in the Available Commitmentscase of Eurodollar Loans, $1,000,000 or a whole multiple of $1,000,000 in excess thereof. Upon receipt of any such noticenotice from the Borrower, the Administrative Agent shall promptly notify each Bank Lender thereof. Each Bank Lender will make the amount of its pro rata share of each borrowing available to the Company Administrative Agent for the account of the Borrower at the office of the Administrative Agent specified in Section 12.2, Funding Office prior to 12:00 noon 1:00 p.m., Central Time (New York City time) in the case of a borrowing of Base Rate Loans in respect of which notice of such borrowing is given on the requested such Borrowing Date, or as soon as practicable thereafter, an amount in immediately available funds equal to the amount of the Loan to be made by such Bank.) and 11:00 a.
Appears in 1 contract
Sources: Revolving Credit Agreement (Tesoro Petroleum Corp /New/)