Common use of Procedure for Revolving Advances Borrowing Clause in Contracts

Procedure for Revolving Advances Borrowing. (a) Borrowers may notify Agent prior to 10:00 a.m. (New York time) on a Business Day of Borrowers’ request to incur, on that day, a Revolving Advance hereunder. Should any amount required to be paid as interest hereunder, or as fees or other charges under this Agreement or any other agreement with Agent or Lenders, or with respect to any other Obligation, become due, same shall be deemed a request for a Revolving Advance maintained as a Domestic Rate Loan as of the date such payment is due, in the amount required to pay in full such interest, fee, charge or Obligation under this Agreement or any other agreement with Agent or Lenders, and such request shall be irrevocable.

Appears in 2 contracts

Samples: Security Agreement (Dreams Inc), Security Agreement (Intcomex, Inc.)

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Procedure for Revolving Advances Borrowing. (a) Borrowers Borrower may notify Agent prior to 10:00 a.m. 3:00 p.m. (New York time) on a Business Day of Borrowers’ Borrower’s request to incur, on that day, a Revolving Advance hereunder. Should any amount required to be paid as interest hereunder, or as fees or other charges under this Agreement or any other agreement with Agent or Lenders, or with respect to any other Obligation, become due, same shall be deemed a request for a Revolving Advance maintained as a Domestic Rate Loan as of the date such payment is due, in the amount required to pay in full such interest, fee, charge or Obligation under this Agreement or any other agreement with Agent or Lenders, and such request shall be irrevocable.

Appears in 1 contract

Samples: Security Agreement (Perma Fix Environmental Services Inc)

Procedure for Revolving Advances Borrowing. (a) Borrowers Borrower may notify Agent prior to 10:00 11:00 a.m. (New York time) on a Business Day of Borrowers’ Borrower’s request to incur, on that day, a Revolving Advance hereunder. Should any amount required to be paid as interest hereunder, or as fees or other charges under this Agreement or any other agreement Other Documents with Agent or Lenders, or with respect to any other Obligation, become due, same shall be deemed a request for a Revolving Advance maintained as a Domestic Rate Loan as of the date such payment is due, in the amount required to pay in full such interest, fee, charge or Obligation under this Agreement or any other agreement with Agent or Lenders, and such request shall be irrevocable.

Appears in 1 contract

Samples: Security Agreement (P&f Industries Inc)

Procedure for Revolving Advances Borrowing. (a) Borrowers Borrowing Agent on behalf of any Borrower may notify Agent prior to 10:00 11:00 a.m. (New York time) on a Business Day of Borrowers’ a Borrower's request to incur, on that day, a Revolving Advance hereunder. Should any amount required to be paid as interest hereunder, or as fees or other charges under this Agreement or any other agreement with Agent or Lenders, or with respect to any other Obligation, become due, same shall be deemed a request for a Revolving Advance maintained as a Domestic Rate Loan as of the date such payment is due, in the amount required to pay in full such interest, fee, charge or Obligation under this Agreement or any other agreement with Agent or Lenders, and such request shall be irrevocable.

Appears in 1 contract

Samples: Security Agreement (Terrace Holdings Inc)

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Procedure for Revolving Advances Borrowing. (a) Borrowing Agent on behalf of the Borrowers may notify Agent prior to 10:00 a.m. (New York time) on a Business Day of Borrowers’ a Borrower’s request to incur, on that day, a Revolving Advance hereunder. Should any amount required to be paid as interest hereunder, or as fees or other charges under this Agreement or any other agreement with Agent or Lenders, or with respect to any other Obligation, become due, same shall be deemed a request for a Revolving Advance maintained as a Domestic Rate Loan as of the date such payment is due, in the amount required to pay in full such interest, fee, charge or Obligation under this Agreement or any other agreement with Agent or Lenders, and such request shall be irrevocable.

Appears in 1 contract

Samples: Security Agreement (Kitty Hawk Inc)

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