Common use of Procedure for Line of Credit Loans Clause in Contracts

Procedure for Line of Credit Loans. Any request by the Borrower for Line of Credit Loans hereunder must be given by the Borrower not later than 11:00 a.m. (Denver time) on the third Business Day prior to the date of any proposed LIBOR Rate Advance and not later than 1:00 p.m. (Denver time) on the Business Day prior to the date any Base Rate Advance is proposed to be made. Each request for Line of Credit Loans hereunder shall be irrevocable and shall be deemed to be a representation by the Borrower that on the requested Loan Date and after giving effect to the requested Line of Credit Loans the applicable conditions specified in Article VIII have been and will be satisfied. Each request for a Line of Credit Loan hereunder shall specify (i) the requested Loan Date, (ii) the aggregate amount of the Line of Credit Loan to be made on such date, which shall be in a minimum amount of $1,000,000 and an integral multiple of $500,000, (iii) whether such Line of Credit Loans is to be funded as a Base Rate Advances or LIBOR Rate Advances and (iv) in the case of a LIBOR Rate Advance, the duration of the initial Interest Period applicable thereto. Not later than 4:00 p.m. (Denver time) on the Business Day a receipt of such notice is received from the Borrower, the Agent shall advise each Lender of the requested Line of Credit Loans and of such Lender’s ratable share of such Loans. At or before 10:00 a.m. (Denver time) on the date of the requested Line of Credit Loans, each relevant Lender shall provide the Agent at the Agent’s principal office in Denver with immediately available funds covering such Lender’s Pro Rata Percentage of the requested Loans. Unless the Agent determines that any applicable condition specified in Article VIII has not been satisfied or waived, the Agent will make available to the Borrower at the Agent’s principal office in Denver, Colorado in immediately available funds not later than 12:00 noon (Denver time) on the requested Loan Date the amount of the requested Line of Credit Loans to the extent received by the Agent. In accordance with Section 2.1.5(c) the Agent shall not be obligated to provide funds to the Borrower that are not provided to the Agent in accordance with this Section 2.1.4(a).

Procedure for Line of Credit Loans. Any request by the Borrower for Line of Credit Loans hereunder must be given by the Borrower not later than 11:00 a.m. (Denver time) on the third Business Day prior to the date of any proposed LIBOR Rate Advance and not later than 1:00 p.m. 11:00 a.m. (Denver time) on the Business Day prior to the date on which any proposed Base Rate Advance is proposed to be made. Each request for Line of Credit Loans hereunder shall be irrevocable and shall be deemed to be a representation by the Borrower that on the requested Loan Date and after giving effect to the requested Line of Credit Loans the applicable conditions specified in Article VIII have been and will be satisfied. Each request for a Line of Credit Loan hereunder shall specify (i) the requested Loan Date, (ii) the aggregate amount of the Line of Credit Loan to be made on such date, which shall be in a minimum amount of $1,000,000 and an integral multiple of $500,000, (iii) whether such Line of Credit Loans is to be funded as a Base Rate Advances or LIBOR Rate Advances and (iv) in the case of a LIBOR Rate Advance, the duration of the initial Interest Period applicable thereto. Not later than 4:00 p.m. (Denver time) on the Business Day a Promptly upon receipt of such notice is received from the Borrowernotice, the Agent shall advise each Lender of the requested Line of Credit Loans and of such Lender’s 's ratable share of such Loans. At or before 10:00 a.m. 1:00 p.m. (Denver time) on the date of the requested Line of Credit Loans, each relevant Lender shall provide the Agent at the Agent’s 's principal office in Denver with immediately available funds covering such Lender’s 's Pro Rata Percentage of the requested Loans. Unless the Agent determines that any applicable condition specified in Article VIII has not been satisfied or waived, the Agent will make available to the Borrower at the Agent’s 's principal office in Denver, Colorado in immediately available funds not later than 12:00 noon 2:30 p.m. (Denver time) on the requested Loan Date the amount of the requested Line of Credit Loans to the extent received by the Agent. In accordance with Section 2.1.5(c) the Agent shall not be obligated to provide funds to the Borrower that are not provided to the Agent in accordance with this Section 2.1.4(a).

Procedure for Line of Credit Loans. Any request by the Borrower for Line of Credit Loans hereunder must be given by the Borrower not later than 11:00 a.m. (Denver time) on the third Business Day prior to the date of any proposed LIBOR Rate National Beef Packing Company Credit Agreement 27 Advance and not later than 1:00 p.m. 11:00 a.m. (Denver time) on the Business Day prior to the date on which any proposed Base Rate Advance is proposed to be made. Each request for Line of Credit Loans hereunder shall be irrevocable and shall be deemed to be a representation by the Borrower that on the requested Loan Date and after giving effect to the requested Line of Credit Loans the applicable conditions specified in Article VIII have been and will be satisfied. Each request for a Line of Credit Loan hereunder shall specify (i) the requested Loan Date, (ii) the aggregate amount of the Line of Credit Loan to be made on such date, which shall be in a minimum amount of $1,000,000 and an integral multiple of $500,000, (iii) whether such Line of Credit Loans is to be funded as a Base Rate Advances or LIBOR Rate Advances and (iv) in the case of a LIBOR Rate Advance, the duration of the initial Interest Period applicable thereto. Not later than 4:00 p.m. (Denver time) on the Business Day a Promptly upon receipt of such notice is received from the Borrowernotice, the Agent shall advise each Lender of the requested Line of Credit Loans and of such Lender’s 's ratable share of such Loans. At or before 10:00 a.m. 1:00 p.m. (Denver time) on the date of the requested Line of Credit Loans, each relevant Lender shall provide the Agent at the Agent’s 's principal office in Denver with immediately available funds covering such Lender’s 's Pro Rata Percentage of the requested Loans. Unless the Agent determines that any applicable condition specified in Article VIII has not been satisfied or waived, the Agent will make available to the Borrower at the Agent’s 's principal office in Denver, Colorado in immediately available funds not later than 12:00 noon 2:30 p.m. (Denver time) on the requested Loan Date the amount of the requested Line of Credit Loans to the extent received by the Agent. In accordance with Section 2.1.5(c) the Agent shall not be obligated to provide funds to the Borrower that are not provided to the Agent in accordance with this Section 2.1.4(a).