Procedure for Canadian Borrowings Sample Clauses

Procedure for Canadian Borrowings. (a) Each Canadian Borrowing shall be made upon the Canadian Borrower’s irrevocable written notice delivered to the Administrative Agent in the form of a Notice of Borrowing, which notice must be received by the Administrative Agent prior to 10:00 a.m. (Toronto time) one Business Day in advance of the requested Borrowing Date, specifying:
Sample 1Sample 2See All (4)
AutoNDA by SimpleDocs
Procedure for Canadian Borrowings. (a) Each Canadian Loan shall be made upon irrevocable written notice from the applicable Canadian Borrower to the Canadian Lender and the Administrative Agent, which notice must be received not later than (i) 10:00 A.M. (Toronto time) at least two Business Days prior to the proposed date of such Loan, in the case of a Eurocurrency Loan; and (ii) 10:00 A.M. (Toronto time) on the proposed date of such Loan, in the case of a Prime Rate Loan (or, in each case, such later time as the Canadian Lender may approve in its sole discretion). Each such notice shall specify (i) the amount of such Canadian Loan, which shall be CAN$1,000,000 or higher integral multiple of CAN$100,000; (ii) the requested Borrowing Date, which shall be a Business Day; (iii) the Type of Canadian Loan requested; and (iv) in the case of a Eurocurrency Loan, the duration of the initial Interest Period for such Loan.
Sample 1
Procedure for Canadian Borrowings. The Canadian Borrower shall give the Administrative Agent and the Canadian Funding Agent written notice (or telephonic notice promptly confirmed in writing) of each Borrowing to be made under the Canadian Facility (other than BA Advances) substantially in the form of Exhibit F (a “Notice of Canadian Borrowing”) (x) prior to 11:30 a.m. (New York time) on the requested date of each Canadian Base Rate Advance and (y) prior to 1:00 p.m. (New York time) three (3) Business Days prior to the requested date of each Canadian LIBOR Advance. Each Notice of Canadian Borrowing shall be irrevocable and shall specify: (i) the aggregate principal amount of such Borrowing, (ii) the date of such Borrowing (which shall be a Business Day), (iii) the Type of such Loan comprising such Borrowing, (iv) whether such Loan comprising such Borrowing will be made in U.S. Dollars or Canadian Dollars, (v) the account of the Canadian Borrower to which the proceeds of such Canadian Loan should be credited and (vi) in the case of a Canadian LIBOR Advance, the duration of the initial Interest Period applicable thereto (subject to the provisions of the definition of Interest Period). Each Advance made under the Canadian Facility shall consist entirely of Canadian Base Rate Advances, BA Advances or Canadian LIBOR Advances, as the Canadian Borrower may request. The aggregate principal amount of each Canadian LIBOR Advance shall be not less than $5,000,000 or the Canadian Dollar Equivalent thereof or a larger multiple of $1,000,000 or the Canadian Dollar Equivalent thereof, and the aggregate principal amount of each Canadian Base Rate Advance shall not be less than $1,000,000 or the Canadian Dollar Equivalent thereof or a larger multiple of $100,000 or the Canadian Dollar Equivalent thereof; provided, that Canadian Base Rate Advances made pursuant to Section 3.10(e) or Section 3.13(c) may be made in lesser amounts as provided therein. At no time shall the total number of Borrowings outstanding at any time under the Canadian Facility and bearing interest at the Canadian LIBOR Rate exceed twelve. Promptly following the receipt of a Notice of Canadian Borrowing in accordance herewith, the Canadian Funding Agent shall advise each Canadian Lender of the details thereof and the amount of such Canadian Lender’s Canadian Loan to be made as part of the requested Borrowing.
Sample 1
Procedure for Canadian Borrowings. (a) Each Canadian Borrowing shall be made upon VUCI's irrevocable written notice delivered to each Agent in the form of a Notice of Canadian Borrowing, which notice must be received by the Agents prior to (i) 11:00 a.m. (Chicago time) four Business Days prior to the requested Borrowing Date, in the case of Offshore Canadian Loans; (ii) 11:00 a.m. (Chicago time) three Business Days prior to the requested Borrowing Date, in the case of BA Rate Loans; and (iii) 11:00 a.m. (Chicago time) one Business Day prior to the requested Borrowing Date, in the case of Prime Rate Loans, specifying:
Sample 1
Procedure for Canadian Borrowings. (a) Each Canadian Borrowing, each conversion of a Canadian Borrowing from one Type to the other and each continuation of a Canadian Borrowing for a new Interest Period shall be made upon the applicable Canadian Borrower’s irrevocable notice to the Administrative Agent, which may be given by telephone. Each such notice must be received by the Administrative Agent not later than (i) in the case of a borrowing of or conversion to Canadian Prime Rate Loans, 12:00 noon (Toronto time) on the date of such borrowing or conversion, (ii) in the case of a borrowing or continuation of, or conversion of Canadian Prime Rate Loans to, Eurocurrency Loans denominated in Canadian Dollars, 12:00 noon (Toronto time) three Business Days prior to the requested date of such borrowing, continuation or conversion; and (iii) in the case of a Canadian Borrowing of Canadian Banker’s Acceptances, 12:00 noon (Toronto time) one Business Day prior to the date of such Canadian Borrowing. Each such telephonic notice must be confirmed promptly by delivery to the Administrative Agent of a written Canadian Borrowing Notice, appropriately completed and signed by a Responsible Officer of such Canadian Borrower (or of the Company on behalf of such Canadian Borrower). Each such Borrowing, continuation or conversion shall be in a Required Borrowing Amount. Each Canadian Borrowing Notice (whether telephonic or written) shall specify (A) the applicable Canadian Borrower, (B) whether such Canadian Borrower is requesting a Canadian Borrowing or a continuation of Loans for a new Interest Period, (C) the requested date of the Canadian Borrowing or continuation, as the case may be (which shall be a Business Day), (D) the principal amount of Loans to be borrowed or continued (or the aggregate face amount of Canadian Banker’s Acceptances to be accepted, if applicable), and (E) the duration of the Interest Period (if any) with respect thereto (or the maturity of the Canadian Banker’s Acceptances, if applicable). If a Canadian Borrower fails to specify an Interest Period for a Canadian Borrowing of Eurocurrency Loans in a Canadian Borrowing Notice, then the applicable Loans shall be made or continued for an Interest Period of one month’s duration.
Sample 1
Procedure for Canadian Borrowings. (a) Each Canadian Borrowing shall be made upon Canadian Borrower's irrevocable written notice delivered to the Canadian Agent in the form of a Notice of Canadian Borrowing (which notice must be received by the Canadian Agent prior to (i) 10:00 a.m. (New York City time) two Business Days prior to the requested Borrowing Date, in the case of BA Equivalent Rate Loans; and (ii) 9:00 a.m. (New York City time) on the requested Borrowing Date, in the case of Prime Rate Loans, and in each case not more than five Business Days prior to the requested Borrowing Date) specifying:
Sample 1
Procedure for Canadian Borrowings. 24 4.03 Conversion and Continuation Elections for Canadian Loans.........................24 4.04 Interest on Canadian Loans.......................................................25
Sample 1
AutoNDA by SimpleDocs

Related to Procedure for Canadian Borrowings

  • Procedure for Revolving Borrowings The Borrower shall give the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of each Revolving Borrowing, substantially in the form of Exhibit 2.3 attached hereto (a “Notice of Revolving Borrowing”), (x) prior to 1:00 p.m. one (1) Business Day prior to the requested date of each Base Rate Borrowing and (y) prior to 1:00 p.m. three (3) Business Days prior to the requested date of each Eurodollar Borrowing. Each Notice of Revolving Borrowing shall be irrevocable and shall specify (i) the aggregate principal amount of such Borrowing, (ii) the date of such Borrowing (which shall be a Business Day), (iii) the Type of such Revolving Loan comprising such Borrowing and (iv) in the case of a Eurodollar Borrowing, the duration of the initial Interest Period applicable thereto (subject to the provisions of the definition of Interest Period). Each Revolving Borrowing shall consist entirely of Base Rate Loans or Eurodollar Loans, as the Borrower may request. The aggregate principal amount of each Eurodollar Borrowing shall not be less than $5,000,000 or a larger multiple of $250,000, and the aggregate principal amount of each Base Rate Borrowing shall not be less than $1,000,000 or a larger multiple of $100,000; provided that Base Rate Loans made pursuant to Section 2.4 or Section 2.22(d) may be made in lesser amounts as provided therein. At no time shall the total number of Eurodollar Borrowings outstanding at any time exceed eight (8). Promptly following the receipt of a Notice of Revolving Borrowing in accordance herewith, the Administrative Agent shall advise each Lender of the details thereof and the amount of such Lender’s Revolving Loan to be made as part of the requested Revolving Borrowing.

  • Procedure for Borrowing Revolving Loans Each Borrowing shall be made by a written request by an Authorized Person delivered to Agent 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, and (ii) on the Business Day that is 1 Business Day 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, 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.

  • Procedure for Borrowing Swingline Loans The Borrower shall give the Agent and the Swingline Lender notice pursuant to a Notice of Swingline Borrowing or telephonic notice of each borrowing of a Swingline Loan. Each Notice of Swingline Borrowing shall be delivered to the Swingline Lender no later than 3:00 p.m. on the proposed date of such borrowing. Any such notice given telephonically shall include all information to be specified in a written Notice of Swingline Borrowing and shall be promptly confirmed in writing by the Borrower pursuant to a Notice of Swingline Borrowing sent to the Swingline Lender by telecopy on the same day of the giving of such telephonic notice. On the date of the requested Swingline Loan and subject to satisfaction of the applicable conditions set forth in Article V. for such borrowing, the Swingline Lender will make the proceeds of such Swingline Loan available to the Borrower in Dollars, in immediately available funds, at the account specified by the Borrower in the Notice of Swingline Borrowing not later than 4:00 p.m. on such date.

  • Procedure for Revolving Loan Borrowing The Borrower may borrow under the Revolving Commitments during the Revolving Availability Period on any Business Day; provided that the Borrower shall give the Administrative Agent irrevocable notice substantially in the form of Exhibit B-1 (which notice must be received by the Administrative Agent (a) prior to 2:00 p.m., New York City time, on the anticipated Closing Date for any Revolving Loans requested to be made on the Closing Date and (b) for any Revolving Loans requested to be made after the Closing Date, prior to 2:00 p.m., New York City time, (i) three (3) Business Days prior to the requested Borrowing Date, in the case of Eurodollar Loans, or (ii) one (1) Business Day prior to the requested Borrowing Date, in the case of Base Rate Loans) (provided that any such notice of a borrowing of Base Rate Loans to finance payments required to be made pursuant to Section 3.5 may be given not later than 2:00 p.m., New York City time, on the date of the proposed borrowing), specifying (x) the amount and Type of Revolving Loans to be borrowed, (y) the requested Borrowing Date and (z) in the case of Eurodollar Loans, the respective amounts of each such Type of Loan and the respective lengths of the initial Interest Period therefor; provided that prior to the earlier of (a) the Syndication Date and (b) the date that is 60 days after the Closing Date, any Revolving Loan that is a Eurodollar Loan shall have an Interest Period of one (1) month. Each borrowing under the Revolving Commitments shall be in an amount equal to (x) in the case of Base Rate Loans, $250,000 or a multiple of $100,000 in excess thereof (or, if the then aggregate Available Revolving Commitments are less than $250,000 or $100,000, as the case may be, such lesser amounts) and (y) in the case of Eurodollar Loans, $500,000 or a whole multiple of $100,000 in excess thereof (or, if the then aggregate Available Revolving Commitments are less than $500,000 or $100,000, as the case may be, such lesser amounts); provided that (x) the Swingline Lender may request, on behalf of the Borrower, borrowings under the Revolving Commitments that are Base Rate Loans in other amounts pursuant to Section 3.4 and (y) borrowings of Base Rate Loans pursuant to Section 3.11 shall not be subject to the foregoing minimum amounts. Upon receipt of any such notice from the Borrower, the Administrative Agent shall promptly notify each Revolving Lender thereof. Each Revolving Lender will make the amount of its pro rata share of each borrowing available to the Administrative Agent for the account of the Borrower at the Funding Office prior to 2:00 p.m., New York City time, on the Borrowing Date requested by the Borrower in funds immediately available to the Administrative Agent. The Administrative Agent shall make the proceeds of such Revolving Loan available to the Borrower on such Borrowing Date by wire transfer of immediately available funds to a bank account designated in writing by the Borrower to the Administrative Agent.

  • Procedure for Revolving Credit Borrowing The Borrower may borrow under the Revolving Credit Commitments during the Commitment Period on any Business Day, provided that the Borrower shall give the Administrative Agent irrevocable notice (which notice must be received by the Administrative Agent prior to 10:00 A.M., New York City time, (a) three Business Days prior to the requested Borrowing Date, if all or any part of the requested Revolving Credit Loans are to be initially Eurodollar Loans or (b) on the requested Borrowing Date, otherwise), in each case specifying (i) the amount to be borrowed, (ii) the requested Borrowing Date, (iii) whether the borrowing is to be of Eurodollar Loans, ABR 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 Period therefor. Each borrowing under the Revolving Credit Commitments (other than a borrowing under subsections 2.4, 2.16 and 5.5) shall be in an amount equal to (x) in the case of ABR Loans, $5,000,000 or a whole multiple of $1,000,000 in excess thereof (or, if the Aggregate Available Revolving Credit Commitments are less than $1,000,000, such lesser amount) and (y) in the case of Eurodollar Loans, $5,000,000 or a whole multiple of $1,000,000 in excess thereof. Upon receipt of any such notice from the Borrower, the Administrative Agent shall promptly notify each Lender thereof. Prior to 11:00 A.M., New York City time, on the Borrowing Date requested by the Borrower, each Lender will make an amount equal to its Funding Commitment Percentage of the principal amount of the Revolving Credit Loans requested to be made on such Borrowing Date available to the Administrative Agent for the account of the Borrower at the New York office of the Administrative Agent specified in subsection 13.2 in funds immediately available to the Administrative Agent. Except as otherwise provided in subsection 2.16, such borrowing will then be made available to the Borrower by the Administrative Agent crediting the account of the Borrower on the books of such office 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.

  • Borrowing Mechanics for Revolving Loans (i) Except pursuant to Section 2.4(d), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount, Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount.

  • Procedure for Borrowings The Borrower shall give the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of each Borrowing substantially in the form of Exhibit 2.3 (a “Notice of Borrowing”) (x) prior to 11:00 a.m. (New York time) one (1) Business Day prior to the requested date of each Base Rate Borrowing and (y) prior to 11:00 a.m. (New York time) three (3) Business Days prior to the requested date of each Eurodollar Borrowing. Each Notice of Borrowing shall be irrevocable and shall specify: (i) the aggregate principal amount of such Borrowing, (ii) the date of such Borrowing (which shall be a Business Day), (iii) the Type of such Loan comprising such Borrowing and (iv) in the case of a Eurodollar Borrowing, the duration of the initial Interest Period applicable thereto (subject to the provisions of the definition of Interest Period). Each Borrowing shall consist entirely of Base Rate Loans or Eurodollar Loans, as the Borrower may request. The aggregate principal amount of each Eurodollar Borrowing shall be not less than $5,000,000 or a larger multiple of $1,000,000, and the aggregate principal amount of each Base Rate Borrowing shall not be less than $1,000,000 or a larger multiple of $100,000; provided, that Base Rate Loans made pursuant to Section 2.4 may be made in lesser amounts as provided therein. At no time shall the total number of Eurodollar Borrowings outstanding exceed six. Promptly following the receipt of a Notice of Borrowing in accordance herewith, the Administrative Agent shall advise each Lender of the details thereof and the amount of such Lender’s Loan to be made as part of the requested Borrowing.

  • Requests for Revolving Borrowings To request a Revolving Borrowing, the Borrower shall notify the Administrative Agent of such request by telephone (a) in the case of a Eurodollar Borrowing, not later than 11:00 a.m., New York City time, three (3) Business Days before the date of the proposed Borrowing or (b) in the case of an ABR Borrowing, not later than 11:00 a.m., New York City time, one (1) Business Day before the date of the proposed Borrowing; provided that any such notice of an ABR Revolving Borrowing to finance the reimbursement of an LC Disbursement as contemplated by Section 2.06(e) may be given not later than 10:00 a.m., New York City time, on the date of the proposed Borrowing. Each such telephonic Borrowing Request shall be irrevocable and shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written Borrowing Request in a form approved by the Administrative Agent and signed by the Borrower. Each such telephonic and written Borrowing Request shall specify the following information in compliance with Section 2.02:

  • Procedure for Swingline Borrowing; Refunding of Swingline Loans (a) Whenever the Borrower desires that the Swingline Lender make Swingline Loans it shall give the Swingline Lender irrevocable telephonic notice confirmed promptly in writing (which telephonic notice must be received by the Swingline Lender not later than 1:00 P.M., New York City time, on the proposed Borrowing Date), specifying (i) the amount to be borrowed and (ii) the requested Borrowing Date (which shall be a Business Day during the Revolving Commitment Period). Each borrowing under the Swingline Commitment shall be in an amount equal to $500,000 or a whole multiple of $100,000 in excess thereof. Not later than 3:00 P.M., New York City time, on the Borrowing Date specified in a notice in respect of Swingline Loans, the Swingline Lender shall make available to the Administrative Agent at the Funding Office an amount in immediately available funds equal to the amount of the Swingline Loan to be made by the Swingline Lender. The Administrative Agent shall make the proceeds of such Swingline Loan available to the Borrower on such Borrowing Date by depositing such proceeds in the account of the Borrower with the Administrative Agent on such Borrowing Date in immediately available funds.

  • Revolving Borrowings Subject to the terms and conditions set forth herein, each Revolving Lender severally agrees to make loans (each such loan, a “Revolving Loan”) to the Borrower, in Dollars, from time to time, on any Business Day during the Availability Period, in an aggregate amount not to exceed at any time outstanding the amount of such Lender’s Revolving Commitment; provided, however, that after giving effect to any Revolving Borrowing, (i) the Total Revolving Outstandings shall not exceed the Revolving Facility, and (ii) the Revolving Exposure of any Lender shall not exceed such Revolving Lender’s Revolving Commitment. Within the limits of each Revolving Lender’s Revolving Commitment, and subject to the other terms and conditions hereof, the Borrower may borrow Revolving Loans, prepay under Section 2.05, and reborrow under this Section 2.01(b). Revolving Loans may be Base Rate Loans or Eurodollar Rate Loans, as further provided herein; provided, however, any Revolving Borrowings made on the Closing Date or any of the three (3) Business Days following the Closing Date shall be made as Base Rate Loans unless the Borrower delivers a Funding Indemnity Letter not less than three (3) Business Days prior to the date of such Revolving Borrowing.

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