Procedure for Syndicated Borrowing Sample Clauses

Procedure for Syndicated Borrowing. (a) Each Syndicated Borrowing shall be made upon the borrowing Company's irrevocable written notice delivered to the Agent in the form of an Irrevocable Notice of Syndicated Activity (which notice must be received by the Agent prior to 11:00 a.m. (Charlotte time) in the case of a Base Rate Loan and 12:00 noon (Charlotte time) in the case of Offshore Rate Loans) (i) three Business Days prior to the requested Borrowing Date, in the case of Offshore Rate Loans denominated in Dollars or Offshore Currency Loans; (ii) one Business Day prior to the requested Borrowing Date in the case of a Base Rate Loan to a Foreign Subsidiary; and (iii) on the same Business Day as a requested Borrowing Date in the case of Base Rate Loans to other than a Foreign Subsidiary (with settlement of Base Rate Loans to be made in the United States), specifying: (A) the Company by which such Syndicated Borrowing is to be made; (B) whether such Syndicated Borrowing is a Revolving Borrowing or 364 Day Borrowing; (C) the amount of such Syndicated Borrowing, which shall be in an aggregate amount not less than the applicable Minimum Tranche; (D) the requested Borrowing Date, which shall be a Business Day; (E) in the case of a Syndicated Borrowing which is a Revolving Borrowing comprised of Offshore Currency Loans if permitted hereunder, the Applicable Currency; and (F) in the case of a Syndicated Borrowing comprised of Offshore Rate Loans, the duration of the Interest Period applicable to such Syndicated Borrowing included in such notice. If the Irrevocable Notice of Syndicated Activity fails to specify the duration of the Interest Period for any Syndicated Borrowing comprised of Offshore Rate Loans, such Interest Period shall be one month. (b) Upon receipt of an Irrevocable Notice of Syndicated Activity by the Agent, the Agent shall determine the availability of the Commitments hereunder as of the date of receipt by the Agent of such Irrevocable Notice of Syndicated Activity. In the case of any Offshore Currency Loan, an indicative Dollar Equivalent Amount of any Syndicated Borrowing in an Offshore Currency will be determined by the Agent for the related Borrowing on the Valuation Date therefor in accordance with SECTION 2.5(a). Upon receipt of such Irrevocable Notice of Syndicated Activity, the Agent will promptly notify each Bank thereof at such Bank's respective applicable Lending Office and of the amount of such Bank's Pro Rata Share of such Borrowing. In the case of a Borrowing comprise...