Common use of Procedure for Term Loan Borrowing Clause in Contracts

Procedure for Term Loan Borrowing. The Borrower shall give the Administrative Agent irrevocable notice substantially in the form of Exhibit K-1 (which notice must be received by the Administrative Agent prior to 1:00 P.M., New York City time, on the Business Day prior to the anticipated Closing Date) requesting that the Tranche A Term Lenders make the Tranche A Term Loans and the Tranche B Lenders make the Tranche B Term Loans, in each case on the Closing Date and specifying the amount to be borrowed. The Term Loans made on the Closing Date shall initially be ABR Loans. Upon receipt of such notice the Administrative Agent shall promptly notify each such Term Lender thereof. Not later than 3:00 P.M., New York City time, on the Closing Date each such Term Lender shall make available to the Administrative Agent at the Funding Office an amount in immediately available funds equal to the Term Loan or Term Loans to be made by such Lender. The Administrative Agent shall credit the account designated in writing by the Borrower to the Administrative Agent with the aggregate of the amounts made available to the Administrative Agent by such Term Lenders in immediately available funds.

Appears in 2 contracts

Sources: Credit Agreement (Wesco Aircraft Holdings, Inc), Credit Agreement (Wesco Aircraft Holdings, Inc)

Procedure for Term Loan Borrowing. The Borrower shall give the Administrative Agent irrevocable notice substantially in the form of Exhibit K-1 B-1 (which notice must be received by the Administrative Agent (i) prior to 1:00 P.M.11:00 a.m., New York City time, three (3) Business Days prior to the requested Borrowing Date, in the case of Eurodollar Loans, or (ii) prior to 11:00 a.m., New York City time, on the Business Day prior to requested Borrowing Date, in the anticipated Closing Datecase of Base Rate Loans) requesting that the Tranche A applicable Term Lenders make the Tranche A Initial Term Loans and the Tranche B Lenders make the Tranche B Term Loans, in each case on the Closing Date and specifying the amount to be borrowed. The Term Loans made on the Closing Date shall initially be ABR Loans. Upon receipt of such notice the Administrative Agent shall promptly notify each such applicable Term Lender thereof. Not later than 3:00 P.M.2:00 p.m., New York City time, on the Closing Date Date, each such applicable Term Lender shall make available to the Administrative Agent at the Funding Office an amount in immediately available funds equal to the Term Loan or Initial Term Loans to be made by such Lender. The Administrative Agent shall credit make the proceeds of such Initial Term Loans available to the Borrower on such Borrowing Date by wire transfer in immediately available funds to a bank account designated in writing by the Borrower to the Administrative Agent with the aggregate of the amounts made available to the Administrative Agent by such Term Lenders in immediately available fundsAgent.

Appears in 2 contracts

Sources: Credit Agreement (Lantheus Holdings, Inc.), Credit Agreement (Lantheus Holdings, Inc.)

Procedure for Term Loan Borrowing. The Borrower shall give the Administrative Agent irrevocable notice notice, substantially in the form of Exhibit K-1 A-1 hereto, (which notice must be received by the Administrative Agent prior to 1:00 not later than 3:00 P.M., New York City time, one Business Day prior to the anticipated Closing Date or, in the case the Loans on the Closing Date shall be Eurodollar Loans, three Business Day Days prior to the anticipated Closing Date) requesting that the Tranche A Term Lenders make the Tranche A Term Loans and the Tranche B Lenders make the Tranche B Term Loans, in each case on the Closing Date and specifying (i) the aggregate principal amount to be borrowed. The , (ii) the requested Borrowing Date and (iii) whether such Term Loans being incurred are to be made on as ABR Loans or, to the Closing Date shall initially be ABR extent permitted hereunder, Eurodollar Loans and, if Eurodollar Loans, the initial Interest Period applicable thereto. Upon receipt of such borrowing notice the Administrative Agent shall promptly notify each such Term Lender thereof. Not later than 3:00 P.M., New York City time, on the Closing Date each such Term Lender shall make available to the Administrative Agent at the Funding Office an amount in immediately available funds equal to the Term Loan or Term Loans to be made by such Lender. The Administrative Agent shall credit the account designated in writing by the Borrower to the Administrative Agent with the aggregate of the amounts made available to the Administrative Agent by such Term Lenders in immediately available funds.

Appears in 2 contracts

Sources: First Lien Credit Agreement (PGA Holdings, Inc.), First Lien Credit Agreement (PGA Holdings, Inc.)

Procedure for Term Loan Borrowing. The Borrower shall give deliver to the Administrative Agent irrevocable notice substantially in the form of Exhibit K-1 a Borrowing Notice (which notice Borrowing Notice must be received by the Administrative Agent prior to 1:00 P.M.10:00 A.M., New York City time, on the one Business Day prior to the anticipated Closing Date) requesting that the Tranche A Term Loan Lenders make the Tranche A Term Loans and the Tranche B Lenders make the Tranche B Term Loans, in each case on the Closing Date and specifying the amount to be borrowedDate. The Term Loans made on the Closing Date shall initially be ABR Base Rate Loans, and no Term Loan may be converted into or continued as a Eurodollar Loan having an Interest Period in excess of one month prior to the Syndication Date. Upon receipt of such notice Borrowing Notice the Administrative Agent shall promptly notify each such Term Loan Lender thereof. Not later than 3:00 P.M.12:00 Noon, New York City time, on the Closing Date each such Term Loan Lender shall make available to the Administrative Agent at the Funding Office an amount in immediately available funds equal to the Term Loan or Term Loans to be made by such Lender. The Administrative Agent shall credit the account designated in writing by make available to the Borrower to the Administrative Agent with the aggregate of the amounts made available to the Administrative Agent by such the Term Lenders Loan Lenders, in immediately available fundslike funds as received by the Administrative Agent.

Appears in 2 contracts

Sources: Credit Agreement (Dobson Communications Corp), Credit Agreement (Dobson Communications Corp)

Procedure for Term Loan Borrowing. (a) . The Borrower shall give the Administrative Agent irrevocable notice substantially in the form of Exhibit K-1 (which notice must be received by the Administrative Agent prior to 1:00 P.M.2:00 p.m., New York City time, on the Business Day prior to the anticipated Closing Date) requesting that the Tranche A applicable Term Lenders make the Tranche A Term Loans and the Tranche B Lenders make the Tranche B Term Loans, in each case on the Closing Date and specifying the amount to be borrowed. The Term Loans made on Prior to the earlier of (a) the Syndication Date and (b) the date that is 60 days after the Closing Date Date, any Term Loan that is a Eurodollar Loan shall initially be ABR Loanshave an Interest Period of one (1) month. Upon receipt of such notice the Administrative Agent shall promptly notify each such applicable Term Lender thereof. Not later than 3:00 P.M.2:00 p.m., New York City time, on the Closing Date Date, each such applicable Term Lender shall make available to the Administrative Agent at the Funding Office an amount in immediately available funds equal to the Term Loan or Term Loans to be made by such Lender. The Administrative Agent shall credit make the proceeds of such Term Loan or Term Loans available to the Borrower on such Borrowing Date by wire transfer in immediately available funds to a bank account designated in writing by the Borrower to the Administrative Agent with the aggregate of the amounts made available to the Administrative Agent by such Term Lenders in immediately available fundsAgent.

Appears in 2 contracts

Sources: Credit Agreement (INC Research Holdings, Inc.), Credit Agreement (INC Research Holdings, Inc.)

Procedure for Term Loan Borrowing. The Parent Borrower shall give the Administrative Agent irrevocable notice substantially in the form of Exhibit K-1 (which notice must be received by the Administrative Agent (a) prior to 1:00 P.M.12:00 Noon, New York City time, on three Business Days prior to the Closing Date, in the case of Eurocurrency Loans, or (b) prior to 12:00 Noon, New York City time, one Business Day prior to the anticipated Closing Date, in the case of ABR Loans) requesting that the Tranche A B Term Lenders make the Tranche A Term Loans and the Tranche B Loan Lenders make the Tranche B Term Loans, in each case Loans on the Closing Date and specifying the amount to be borrowed. The Term Loans made on the Closing Date shall initially be ABR Loans. Upon receipt of such notice the Administrative Agent shall promptly notify each such Tranche B Term Loan Lender thereof. Not later than 3:00 P.M.12:00 Noon, New York City time, on the Closing Date each such Tranche B Term Loan Lender shall make available to the Administrative Agent at the Funding Office an amount in immediately available funds equal to the Term Loan or Term Loans to be made by such Lender. The Administrative Agent shall credit the account designated in writing by the Borrower make available to the Administrative Agent with Parent Borrower the aggregate of the amounts made available to the Administrative Agent by such the Term Loan Lenders in immediately available funds.

Appears in 1 contract

Sources: Credit Agreement (Conmed Corp)

Procedure for Term Loan Borrowing. The Borrower shall give the Administrative Agent irrevocable notice substantially in the form of Exhibit K-1 (which notice must be received by the Administrative Agent prior to 1:00 P.M.(ai) 12:00 Noon, New York City time, three Business Days prior to the anticipated Closing Date, in the case of Eurocurrency Loans, or (bii) 10:00 A.M., New York City time, on the Business Day prior to day of the anticipated Closing Date, in the case of ABR Loans) requesting that the Tranche A Original Term Lenders make the Tranche A Original Term Loans and the Tranche B Lenders make the Tranche B Term Loans, in each case on the Closing Date and specifying the amount to be borrowed. The Term Loans made on the Closing Date shall initially be ABR Loans. Upon receipt of such notice the Administrative Agent shall promptly notify each such Original Term Lender thereof. Not later than 3:00 P.M.12:00 Noon, New York City time, on the Closing Date Date, each such Original Term Lender shall make available to the Administrative Agent at the Funding Office an amount in immediately available funds equal to the Original Term Loan or Original Term Loans to be made by such Lender. The Administrative Agent shall credit the account designated in writing by of the Borrower to on the books of such office of the Administrative Agent with the aggregate of the amounts made available to the Administrative Agent by such the Original Term Lenders in immediately available funds.

Appears in 1 contract

Sources: Incremental Facilities Agreement (Avis Budget Group, Inc.)

Procedure for Term Loan Borrowing. The Borrower shall give the Administrative Agent irrevocable notice notice, substantially in the form of Exhibit K-1 J (which notice must be received by the Administrative Agent prior to 1:00 P.M.11:00 A.M., New York City time, on the (a) three U.S. Government Securities Business Day Days prior to the anticipated Closing Date, in the case of Term Benchmark Loans, or (b) on the anticipated Closing Date, in the case of ABR Loans) requesting that the Tranche A Term Lenders make the Tranche A Term Loans and the Tranche B Lenders make the Tranche B Term Loans, in each case on the Closing Date and specifying the amount to be borrowed. The Term Loans made on the Closing Date shall initially be ABR Loans. Upon receipt of such notice the Administrative Agent shall promptly notify each such Term Lender thereof. Not later than 3:00 P.M.12:00 noon, New York City time, on the Closing Date each such Term Lender shall make available to the Administrative Agent at the Funding Office an amount in immediately available funds equal to the Term Loan or Term Loans to be made by such Lender. The Administrative Agent shall credit the account designated in writing by of the Borrower to on the books of such office of the Administrative Agent with the aggregate of the amounts made available to the Administrative Agent by such the Term Lenders in immediately available fundsfunds or wire such funds as directed by the Borrower.

Appears in 1 contract

Sources: Second Amendment (RE/MAX Holdings, Inc.)

Procedure for Term Loan Borrowing. (a) The Borrower Borrowers shall give the Administrative Agent irrevocable notice substantially in the form of Exhibit K-1 (which notice must be received by the Administrative Agent prior to 1:00 P.M.10:00 A.M., New York City time, on the one Business Day prior to the anticipated Closing Date) requesting that the Tranche A Term Loan Lenders make the Tranche A Term Loans and the Tranche B Lenders make the Tranche B Term Loans, in each case on the Closing Date and specifying the amount to be borrowed. The Term Loans made on the Closing Date shall initially be ABR Base Rate Loans, and no Term Loan may be converted into or continued as a Eurodollar Loan having an Interest Period in excess of one month prior to the date which is 30 days after the Closing Date. Upon receipt of such notice the Administrative Agent shall promptly notify each such Term Loan Lender thereof. Not later than 3:00 P.M.12:00 Noon, New York City time, on the Closing Date each such Term Loan Lender shall make available to the Administrative Agent at the Funding Office an amount in immediately available funds equal to the Term Loan or Term Loans to be made by such Lender. The Administrative Agent shall credit the account designated in writing by the Borrower make available to the Administrative Agent with Borrowers the aggregate of the amounts made available to the Administrative Agent by such the Term Loan Lenders in immediately available fundslike funds as received by the Administration Agent.

Appears in 1 contract

Sources: Senior Credit Agreement (Abry Holdings Iii Inc)

Procedure for Term Loan Borrowing. The Borrower shall give the Administrative Agent irrevocable notice substantially in the form of Exhibit K-1 (which notice must be received by the Administrative Agent prior to 1:00 P.M.10:00 A.M., New York City time, on the one Business Day prior to the anticipated Closing Borrowing Date) requesting that the Tranche A Term Loan Lenders make the Tranche A Term Loans and on such Borrowing Date. Except as may otherwise be agreed upon by the Tranche B Lenders make Lenders, the Tranche B Term Loans, in each case on the Closing Date and specifying the amount to be borrowed. The Term Loans made on the Closing Date shall initially be ABR Base Rate Loans, and no Term Loan may be converted into or continued as a Eurodollar Loan prior to the earlier of the Syndication Date and 90 days after the Closing Date. Upon receipt of such notice the Administrative Agent shall promptly notify each such Term Loan Lender thereof. Not later than 3:00 P.M.12:00 Noon, New York City time, on the Closing Borrowing Date each such Term Loan Lender shall make available to the Administrative Agent at the Funding Office an amount in immediately available funds equal to the Term Loan or Term Loans to be made by such LenderLender on such Borrowing Date. The Administrative Agent shall credit the account designated in writing by make available to the Borrower to the Administrative Agent with the aggregate of the amounts made available to the Administrative Agent by the Term Loan Lenders on such Term Lenders Borrowing Date in immediately available funds.

Appears in 1 contract

Sources: Credit Agreement (American Buildings Co /De/)

Procedure for Term Loan Borrowing. The Borrower shall give deliver to the Administrative Agent irrevocable notice substantially in the form of Exhibit K-1 a Borrowing Notice (which notice Borrowing Notice must be received by the Administrative Agent prior to 1:00 P.M.10:00 A.M., New York City time, time on the Business Day prior to the anticipated Closing Date) requesting that the Tranche A Term Loan Lenders make the Tranche A Term Loans and the Tranche B Lenders make the Tranche B Term Loans, in each case on the Closing Date and specifying the amount to be borrowed. The Term Loans made on the Closing Date shall initially be ABR LoansBase Rate Loans and no Term Loans may be converted into a LIBO Rate Loan prior to the date that is 7 days after the Closing Date. Upon receipt of such notice Borrowing Notice the Administrative Agent shall promptly notify each such Term Loan Lender thereof. Not later than 3:00 P.M.12:00 Noon, New York City time, on the Closing Date each such Term Loan Lender shall make available to the Administrative Agent at the Funding Office an amount in immediately available funds equal to the Term Loan or Term Loans to be made by such Lender. The Administrative Agent shall credit the account designated in writing by make available to the Borrower to the Administrative Agent with the aggregate of the amounts made available to the Administrative Agent by such the Term Lenders Loan Lenders, in immediately available fundslike funds as received by the Administrative Agent.

Appears in 1 contract

Sources: Credit Agreement (Tronox Inc)

Procedure for Term Loan Borrowing. The Initial Borrower shall give the Administrative Agent irrevocable notice substantially in the form of Exhibit K-1 (which notice must be received by the Administrative Agent prior to 1:00 5:00 P.M., New York City time, on the one Business Day prior to the anticipated Closing Date) requesting that the Tranche A Term Lenders make the Tranche A Term Loans and the Tranche B Lenders make the Tranche B Term Loans, in each case on the Closing Date and specifying the amount to be borrowed. Subject to satisfaction (or waiver) of the conditions precedent specified in Section 5.1, not later than 9 A.M., New York City time, on the Closing Date, the Administrative Agent shall credit the account(s) designated in writing by the Initial Borrower to the Administrative Agent with the aggregate amount of the Term Loans requested by the Borrower in immediately available funds. The Term Loans made on the Closing Date shall initially be ABR LoansLoans unless the initial Term Lenders and the Administrative Agent otherwise agree. Upon receipt of such borrowing notice the Administrative Agent shall promptly notify each such Term Lender thereof. Not later than 3:00 P.M., New York City time, on the Closing Date each such Term Lender shall make available to the Administrative Agent at the Funding Office an amount in immediately available funds equal to the Term Loan or Term Loans to be made by such Lender. The Administrative Agent shall credit the account designated in writing by the Borrower to the Administrative Agent with the aggregate of the amounts made available to the Administrative Agent by such Term Lenders in immediately available funds.

Appears in 1 contract

Sources: First Lien Credit Agreement (Vertrue Inc)

Procedure for Term Loan Borrowing. The Borrower shall give deliver to the Administrative Agent irrevocable notice substantially in the form of Exhibit K-1 a Borrowing Notice (which notice Borrowing Notice must be received by the Administrative Agent prior to 1:00 P.M.10:00 A.M., New York City time, on the one Business Day prior to the anticipated Closing Date) requesting that the Tranche A Term Lenders make the Tranche A Term Loans and the Tranche B Lenders make the Tranche B Term Loans, in each case on the Closing Date and specifying the amount to be borrowedDate. The Term Loans made on the Closing Date shall initially be ABR Base Rate Loans, and no Term Loan may be converted into or continued as a Eurodollar Loan prior to the date which is 5 Business Days after the Closing Date or such shorter period as may be reasonably acceptable to the Administrative Agent. Upon receipt of such notice Borrowing Notice the Administrative Agent shall promptly notify each such Term Lender thereof. Not later than 3:00 P.M.12:00 Noon, New York City time, on the Closing Date each such Term Lender shall make available to the Administrative Agent at the Funding Office an amount in immediately available funds equal to the Term Loan or Term Loans to be made by such Lender. The Administrative Agent shall credit the account designated in writing by make available to the Borrower to the Administrative Agent with the aggregate of the amounts made available to the Administrative Agent by such Term Lenders the Lenders, in immediately available fundslike funds as received by the Administrative Agent.

Appears in 1 contract

Sources: Term Loan Agreement (Williams Companies Inc)

Procedure for Term Loan Borrowing. The Borrower shall give the Administrative Agent irrevocable notice substantially in the form of Exhibit K-1 (which notice must be received by the Administrative Agent prior to 1:00 P.M.10:00 A.M., New York City time, on the (a) three Business Day Days prior to the anticipated Closing Date, in the case of Eurodollar Loans, or (b) on the day of the anticipated Closing Date, in the case of ABR Loans) requesting that the Tranche A Term Lenders make the Tranche A Term Loans and the Tranche B Lenders make the Tranche B Term Loans, in each case on the Closing Date and specifying the amount to be borrowed. The Unless otherwise specifically requested in the borrowing notice, the Term Loans made on the Closing Date shall initially be ABR Loans. Upon receipt of such notice the Administrative Agent shall promptly notify each such Term Lender thereof. Not later than 3:00 P.M.12:00 Noon, New York City time, on the Closing Date each such Term Lender shall make available to the Administrative Agent at the Funding Office an amount in immediately available funds equal to the Term Loan or Term Loans to be made by such Lender. The Administrative Agent shall credit the account designated in writing by of the Borrower to on the books of such office of the Administrative Agent with the aggregate of the amounts made available to the Administrative Agent by such the Term Lenders in immediately available funds. Unless previously terminated pursuant to Section 8, the unused Term Commitments shall terminate immediately after the making of the Term Loans on the Closing Date.

Appears in 1 contract

Sources: Credit Agreement (Newpark Resources Inc)

Procedure for Term Loan Borrowing. The Borrower shall give deliver to the Administrative Agent irrevocable notice substantially in the form of Exhibit K-1 a Borrowing Notice (which notice Borrowing Notice must be received by the Administrative Agent prior to 1:00 P.M.10:00 A.M., New York City time, on the one Business Day prior to the anticipated Closing Date) requesting that the Tranche A Term Loan Lenders make the Tranche A Term Loans and the Tranche B Lenders make the Tranche B Term Loans, in each case on the Closing Date and specifying the amount to be borrowedDate. The Term Loans made on the Closing Date shall initially be ABR Base Rate Loans, and no Term Loan may be converted into or continued as a Eurodollar Loan having an Interest Period in excess of one month prior to the Syndication Date. Upon receipt of such notice Borrowing Notice the Administrative Agent shall promptly notify each such 20 Term Loan Lender thereof. Not later than 3:00 P.M.12:00 Noon, New York City time, on the Closing Date each such Term Loan Lender shall make available to the Administrative Agent at the Funding Office an amount in immediately available funds equal to the Term Loan or Term Loans to be made by such Lender. The Administrative Agent shall credit the account designated in writing by make available to the Borrower to the Administrative Agent with the aggregate of the amounts made available to the Administrative Agent by such the Term Lenders Loan Lenders, in immediately available fundslike funds as received by the Administrative Agent.

Appears in 1 contract

Sources: Indenture (Dobson Communications Corp)

Procedure for Term Loan Borrowing. The Borrower shall give the Administrative Agent irrevocable notice notice, substantially in the form of Exhibit K-1 L (which notice must be received by the Administrative Agent prior to 1:00 P.M.11:00 A.M., New York City time, on (a) three Business Days prior to the anticipated Closing Date, in the case of Eurodollar Loans, or (b) one Business Day prior to the anticipated Closing Date, in the case of ABR Loans) requesting that the Tranche A Term Lenders make the Tranche A Term Loans and the Tranche B Lenders make the Tranche B Term Loans, in each case on the Closing Date and specifying the amount to be borrowed. The Term Loans made on the Closing Date shall initially be ABR Loans. Upon receipt of such notice the Administrative Agent shall promptly notify each such Term Lender thereof. Not later than 3:00 P.M.12:00 Noon, New York City time, on the Closing Date each such Term Lender shall make available to the Administrative Agent at the Funding Office an amount in immediately available funds equal to the Term Loan or Term Loans to be made by such Lender. The Administrative Agent shall credit the account designated in writing by of the Borrower to on the books of such office of the Administrative Agent with the aggregate of the amounts made available to the Administrative Agent by such the Term Lenders in immediately available fundsfunds or wire such funds as directed by the Borrower.

Appears in 1 contract

Sources: Credit Agreement (RE/MAX Holdings, Inc.)

Procedure for Term Loan Borrowing. The Borrower shall give the Administrative Agent irrevocable notice substantially in the form of Exhibit K-1 (which notice must be received by the Administrative Agent prior to 1:00 P.M.10:00 A.M., New York City time, on the (i) one Business Day prior to the anticipated Closing Date and (ii) three Business Days prior to the anticipated Delayed Funding Date, as applicable) requesting that the Tranche A Term Loan Lenders make the Tranche A Term Loans and the Tranche B Lenders make the Tranche B Term Loans, in each case on the Closing Date and the Delayed Funding Date, as applicable, and specifying the amount to be borrowedborrowed on such date. The Term Loans made on the Closing Date and the Delayed Funding Date shall initially be ABR Base Rate Loans. Upon receipt of such notice the Administrative Agent shall promptly notify each such Term Loan Lender thereof. Not later than 3:00 P.M.12:00 Noon, New York City time, on the Closing Date and Delayed Funding Date, as applicable, each such Term Loan Lender shall make available to the Administrative Agent at the Funding Office an amount in immediately available funds equal to the Term Loan or Term Loans to be made by such Lender. The Administrative Agent shall credit the account designated in writing by make available to the Borrower to the Administrative Agent with the aggregate of the amounts made available to the Administrative Agent by such the Term Loan Lenders in immediately available like funds.

Appears in 1 contract

Sources: Credit Agreement (Worldspan L P)

Procedure for Term Loan Borrowing. The Borrower shall give the Administrative Agent irrevocable notice substantially in the form of Exhibit K-1 (which notice must be received by the Administrative Agent prior to 1:00 P.M.12:00 Noon, New York City time, on the Business Day prior to the anticipated Closing Date) requesting that the Tranche A applicable Term Lenders make the Tranche A Term Loans and the Tranche B Lenders make the Tranche B Term Loans, in each case on the Closing Date and specifying the amount to be borrowed. The Term Loans made on Prior to the earlier of (a) the Syndication Date and (b) the date that is sixty (60) days after the Closing Date Date, any Term Loan that is a Eurodollar Loan shall initially be ABR Loanshave an Interest Period of one (1) month. Upon receipt of such notice the Administrative Agent shall promptly notify each such applicable Term Lender thereof. Not later than 3:00 P.M.12:00 Noon, New York City time, on the Closing Date Date, each such applicable Term Lender shall make available to the Administrative Agent at the Funding Office an amount in immediately available funds equal to the Term Loan or Term Loans to be made by such Lender. The Administrative Agent shall credit make the proceeds of such Term Loan or Term Loans available to the Borrower on such Borrowing Date by wire transfer in immediately available funds to a bank account designated in writing by the Borrower to the Administrative Agent with the aggregate of the amounts made available to the Administrative Agent by such Term Lenders in immediately available fundsAgent.

Appears in 1 contract

Sources: Credit Agreement (Microsemi Corp)

Procedure for Term Loan Borrowing. The Borrower shall give the Administrative Agent irrevocable notice substantially in the form of Exhibit K-1 (which notice must be received by the Administrative Agent prior to 1:00 P.M.12:00 Noon, New York City time, three Business Days prior to the Closing Date, in the case of Eurodollar Loans, or prior to 10:00 A.M., New York City time, on the Business Day prior to the anticipated Closing Date, in the case of ABR Loans) requesting that specifying (i) the Tranche A Term Lenders make the Tranche A amount and Type of Term Loans to be borrowed and (ii) in the case of Eurodollar Loans, the respective amounts of each such Type of Loan and the Tranche B Lenders make respective lengths of the Tranche B Term Loans, in each case on the Closing Date and specifying the amount to be borrowed. The Term Loans made on the Closing Date shall initially be ABR Loansinitial Interest Period therefor. Upon receipt of such notice the Administrative Agent shall promptly notify each such Term Lender thereof. Not later than 3:00 P.M.12:00 Noon, New York City time, on the Closing Date each such Term Lender shall make available to the Administrative Agent at the Funding Office an amount in immediately available funds equal to the Term Loan or Term Loans to be made by such Lender. The Administrative Agent shall credit the account designated in writing by of the Borrower to on the books of such office of the Administrative Agent with the aggregate of the amounts made available to the Administrative Agent by such the Term Lenders in immediately available funds.

Appears in 1 contract

Sources: Credit Agreement (Oci Holdings Inc)

Procedure for Term Loan Borrowing. The Borrower shall give the Administrative Agent irrevocable notice substantially in the form of Exhibit K-1 (which notice must be received by the Administrative Agent prior to 1:00 P.M.10:00 A.M., New York City time, on the one Business Day prior to the anticipated Closing Date) requesting that the Tranche A Term Lenders make the Tranche A Term Loans and the Tranche B Lenders make the Tranche B Term Loans, in each case on the Closing Date and specifying the amount to be borrowed. The Term Loans made on the Closing Date shall initially be (i) in the case of the Tranche A-1 Term Loans and Tranche B Term Loans, ABR Loans, and (ii) in the case of Tranche A-2 Term Loans, Canadian Prime Rate Loans. Upon receipt of such notice the Administrative Agent shall promptly notify each such Term Lender thereof. Not later than 3:00 P.M.12:00 Noon, New York City time, on the Closing Date each such Term Lender shall make available to the Administrative Agent at the Funding Office an amount in immediately available funds equal to the Term Loan or Term Loans to be made by such Lender. The Administrative Agent shall credit the account designated in writing by of the Borrower to on the books of such office of the Administrative Agent with the aggregate of the amounts made available to the Administrative Agent by such the Term Lenders in immediately available funds.

Appears in 1 contract

Sources: Credit Agreement (Precision Drilling Trust)

Procedure for Term Loan Borrowing. The Parent Borrower shall give the Administrative Agent irrevocable notice substantially in the form of Exhibit K-1 (which notice must be received by the Administrative Agent (a) prior to 1:00 P.M.12:00 Noon, New York City time, on three Business Days prior to the Closing Date, in the case of Eurocurrency Loans or (b) prior to 12:00 Noon, New York City time, one Business Day prior to the anticipated Closing Date, in the case of ABR Loans) requesting that the Tranche A Term Loan Lenders make the Tranche A Term Loans and the Tranche B Lenders make the Tranche B Term Loans, in each case on the Closing Date and specifying the amount to be borrowed. The Term Loans made on the Closing Date shall initially be ABR Loans. Upon receipt of such notice the Administrative Agent shall promptly notify each such Tranche A Term Loan Lender thereof. Not later than 3:00 P.M.12:00 Noon, New York City time, on the Closing Date each such Tranche A Term Loan Lender shall make available to the Administrative Agent at the applicable Funding Office by wire transfer an amount in immediately available funds equal to the Term Loan or Tranche A Term Loans to be made by such Lender. The Administrative Agent shall credit the account designated in writing by the Borrower make available to the Administrative Agent with Parent Borrower the aggregate of the amounts made available to the Administrative Agent by such the Tranche A Term Loan Lenders in immediately available fundsfunds by promptly remitting the amounts so received to the account of the Parent Borrower specified by the Parent Borrower in the applicable irrevocable notice specified above.

Appears in 1 contract

Sources: Credit Agreement (Conmed Corp)