Common use of Procedure for Term Loan Borrowings Clause in Contracts

Procedure for Term Loan Borrowings. The Borrower shall give the Administrative Agent irrevocable notice (which notice must be received by the Administrative Agent prior to 12:00 Noon, New York City time, one Business Day prior to the Closing Date) requesting that the Term Lenders make the Closing Date Term Loans on the Closing Date and specifying the amount to be borrowed. Upon receipt of such notice the Administrative Agent shall promptly notify each applicable Term Lender thereof. Not later than 12:00 Noon, New York City time, on the Closing Date, each applicable Term Lender shall make available to the Administrative Agent at the Funding Office an amount in immediately available funds equal to the Closing Date Term Loans to be made by such Lender. The Administrative Agent shall make the proceeds of such Closing Date Term Loans available to the Borrower on such Borrowing Date by wire transfer in immediately available funds to the Escrow Account as designated in writing by the Borrower to the Administrative Agent. After the Closing Date, each borrowing of Term Loans, each conversion of Term Loans from one Type to the other, and each continuation of Eurocurrency Term Loans shall be made upon the Borrower’s irrevocable notice to the Administrative Agent, which may be given by (a) telephone, or (b) a Committed Loan Notice; provided that any telephone notice must be confirmed promptly on the same date prior to 2:00 p.m. New York City time such telephonic notice is given by delivery to the Administrative Agent of a Committed Loan Notice. Other than as set forth above with respect to Term Loan Borrowings on the Closing Date, each such Committed Loan Notice must be received by the Administrative Agent not later than (i) 11:00 a.m., New York City time, three (3) Business Days prior to the requested date of any borrowing of, conversion to or continuation of Eurocurrency Term Loans or of any conversion of Eurocurrency Term Loans to ABR Loans, and (ii) no later than 12:00 Noon, New York City time, on the requested date of any borrowing or continuation of ABR Loans.

Procedure for Term Loan Borrowings. The To borrow Term Loans on the Fifth Amendment and Restatement Effective Date or Delayed Draw Borrowing Date, as applicable, the Parent Borrower shall give the Administrative Agent irrevocable notice (which notice must be received by (a) in the Administrative Agent case of a Eurocurrency Borrowing, not later than 11:00 a.m., Local Time, three Business Days prior to 12:00 Noonthe applicable date or (b) in the case of an ABR Borrowing, not later 11:00 a.m., New York City time, one Business Day prior to the Closing Dateapplicable date) requesting that the Effective Date Term Lenders make the Closing Effective Date Term Loans on the Closing Fifth Amendment and Restatement Effective Date or the Delayed Draw Term Lenders make the Delayed Draw Term Loans on the Delayed Draw Borrowing Date, as applicable, and specifying the amount to be borrowedborrowed and, except in the case of ABR Borrowing of Term Loans, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term Interest Period. Upon receipt of such notice Borrowing Request the Administrative Agent shall promptly notify each applicable Term Lender thereof. Not later than 12:00 Noon10:00 a.m., New York City time, time on the Closing Fifth Amendment and Restatement Effective Date or Delayed Draw Borrowing Date, as applicable, each applicable Term Lender shall make available to the Administrative Agent at the applicable Funding Office an amount in immediately available funds equal to the Closing Date Term Loan or Term Loans to be made by such Lender. The Administrative Agent shall make credit the proceeds account of the applicable Borrower on the books of such Closing Date Term Loans available to the Borrower on such Borrowing Date by wire transfer in immediately available funds to the Escrow Account as designated in writing by the Borrower to office of the Administrative Agent. After Agent with the Closing Date, each borrowing aggregate of Term Loans, each conversion of Term Loans from one Type to the other, and each continuation of Eurocurrency Term Loans shall be amounts made upon the Borrower’s irrevocable notice to the Administrative Agent, which may be given by (a) telephone, or (b) a Committed Loan Notice; provided that any telephone notice must be confirmed promptly on the same date prior to 2:00 p.m. New York City time such telephonic notice is given by delivery available to the Administrative Agent of a Committed Loan Notice. Other than as set forth above with respect to Term Loan Borrowings on the Closing Date, each such Committed Loan Notice must be received by the Administrative Agent not later than (i) 11:00 a.m., New York City time, three (3) Business Days prior to the requested date of any borrowing of, conversion to or continuation of Eurocurrency Term Loans or of any conversion of Eurocurrency Term Loans to ABR Loans, and (ii) no later than 12:00 Noon, New York City time, on the requested date of any borrowing or continuation of ABR LoansLenders in immediately available funds.

Procedure for Term Loan Borrowings. The To borrow Term Loans on the Fourth Amendment and Restatement Effective Date, the Parent Borrower shall give the Administrative Agent irrevocable notice (which notice must be received by (a) in the Administrative Agent case of a Eurocurrency Borrowing, not later than 11:00 a.m., Local Time, three Business Days prior to 12:00 Noonthe Fourth Amendment and Restatement Effective Date or (b) in the case of an ABR Borrowing, not later 11:00 a.m., New York City time, one Business Day prior to the Closing Fourth Amendment and Restatement Effective Date) requesting that the Euro Term Lenders and USD Term Lenders make the Closing Date Euro Term Loans and USD Term Loans, respectively, on the Closing Fourth Amendment and Restatement Effective Date and specifying the amount to be borrowedborrowed and, except in the case of ABR Borrowing of USD Term Loans, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term Interest Period. Upon receipt of such notice Borrowing Request the Administrative Agent shall promptly notify each applicable Term Lender thereof. Not later than 12:00 Noon10:00 a.m., New York City time, and 10:00 a.m. London time in case of Euro Term Loans on the Closing Date, Fourth Amendment and Restatement Effective Date each applicable Euro Term Lender and USD Term Lender shall make available to the Administrative Agent at the applicable Funding Office an amount in immediately available funds equal to the Closing Date Term Loan or Term Loans to be made by such Lender. The Administrative Agent shall make credit the proceeds account of the applicable Borrower on the books of such Closing Date Term Loans available to the Borrower on such Borrowing Date by wire transfer in immediately available funds to the Escrow Account as designated in writing by the Borrower to office of the Administrative Agent. After Agent with the Closing Date, each borrowing aggregate of Term Loans, each conversion of Term Loans from one Type to the other, and each continuation of Eurocurrency Term Loans shall be amounts made upon the Borrower’s irrevocable notice to the Administrative Agent, which may be given by (a) telephone, or (b) a Committed Loan Notice; provided that any telephone notice must be confirmed promptly on the same date prior to 2:00 p.m. New York City time such telephonic notice is given by delivery available to the Administrative Agent of a Committed Loan Notice. Other than as set forth above with respect to Term Loan Borrowings on the Closing Date, each such Committed Loan Notice must be received by the Administrative Agent not later than (i) 11:00 a.m., New York City time, three (3) Business Days prior to the requested date of any borrowing of, conversion to or continuation of Eurocurrency Term Loans or of any conversion of Eurocurrency Term Loans to ABR Loans, and (ii) no later than 12:00 Noon, New York City time, on the requested date of any borrowing or continuation of ABR LoansLenders in immediately available funds.

Procedure for Term Loan Borrowings. The Borrower may borrow proceeds of the Term Loans until the Term Loan Commitment Expiration Date; provided that the Borrower shall give deliver to the Administrative Agent irrevocable an irrevocable, written, fully completed notice substantially in the form attached hereto as Exhibit H (a “Term Loan Request”) executed by an Authorized Officer of the Borrower (which notice Term Loan Request must be received by the Administrative Agent prior to 12:00 Noon, New York City time, one 11:00 a.m. Eastern Time) five (5) Business Day Days (or such later date as the Administrative Agent shall agree in its sole discretion) prior to the Closing Date) requesting that requested Borrowing Date (or in the case of any Term Lenders make the Closing Date Term Loans Loan Borrowing to be made on the Closing Date and specifying Date, one (1) Business Day before the Closing Date). Each Term Loan Request shall specify: (i) the aggregate amount to be borrowed, (ii) the requested Borrowing Date, (iii) whether the borrowing is to be a LIBOR Borrowing, an Adjusted Base Rate Borrowing, or a combination thereof, (iv) with respect to any Term Loan made on the Closing Date, whether any portion the borrowing is to be used for Working Capital Purposes, (v) the Identified Speedway Sites to be purchased therewith (or with respect to which a Purchase Price Distribution is to be made), and (v) if the borrowing is to be entirely or partly a LIBOR Borrowing, the information required to be specified in the election described in Section 2.05.2(a) of this Agreement. Upon The Term Loan Requests may be delivered to the Administrative Agent via facsimile or by other electronic transmission, it being agreed that the Administrative Agent may rely on the authority of the Person making any such request without receipt of such notice the any other confirmation. The Administrative Agent shall promptly notify each applicable Term Lender of the Administrative Agent’s receipt of each notice and the contents thereof. Not later than 12:00 Noon, New York City time, on the Closing Date, each applicable Term Each Lender shall make the amount of its pro rata share (calculated in accordance with its respective Term Loan Commitment Percentage) of each requested borrowing available to the Administrative Agent for the account of the Borrower at the Funding Office an amount in immediately available funds equal to offices of the Closing Date Term Loans to be made by such Lender. The Administrative Agent shall make specified in this Agreement prior to 1:00 pm (Eastern Time) on the proceeds of such Closing Date Term Loans available to the Borrower on such Borrowing Date by wire transfer in immediately available funds to the Escrow Account as designated in writing requested by the Borrower in U.S. Dollars and in funds immediately available to the Administrative Agent. After the Closing Date, each Such borrowing of Term Loans, each conversion of Term Loans from one Type to the other, and each continuation of Eurocurrency Term Loans shall will be made upon available thereafter by the Borrower’s irrevocable notice to Administrative Agent crediting the Commercial Account (or such other account 106 as may be agreed between the Borrower and the Administrative Agent, which may be given by (a) telephone, or (b) a Committed Loan Notice; provided that any telephone notice must be confirmed promptly on with the same date prior to 2:00 p.m. New York City time such telephonic notice is given by delivery aggregate of the amounts made available to the Administrative Agent of a Committed Loan Notice. Other than by the Lenders and in like funds as set forth above with respect to Term Loan Borrowings on the Closing Date, each such Committed Loan Notice must be received by the Administrative Agent not later than (i) 11:00 a.m., New York City time, three (3) Business Days prior to the requested date of any borrowing of, conversion to or continuation of Eurocurrency Term Loans or of any conversion of Eurocurrency Term Loans to ABR Loans, and (ii) no later than 12:00 Noon, New York City time, on the requested date of any borrowing or continuation of ABR LoansAgent.

Procedure for Term Loan Borrowings. The Borrower shall give the Administrative Agent irrevocable notice (which notice must be received by the Administrative Agent prior to 12:00 Noon, New York City time, one Business Day prior to on the Closing Date) requesting that the Term Lenders make the Closing Date Term Loans on the Closing Date and specifying the amount to be borrowed. Upon receipt of such notice the Administrative Agent shall promptly notify each applicable Term Lender thereof. Not later than 12:00 Noon, New York City time, on the Closing Date, each applicable Term Lender shall make available to the Administrative Agent at the Funding Office an amount in immediately available funds equal to the Closing Date Term Loans to be made by such Lender. The Administrative Agent shall make the proceeds of such Closing Date Term Loans available to the Borrower on such Borrowing Date by wire transfer in immediately available funds to the Escrow Account as a bank account designated in writing by the Borrower to the Administrative Agent. After the Closing Date, each borrowing of Term Loans, each conversion of Term Loans from one Type to the other, and each continuation of Eurocurrency Term Eurodollar Rate Loans shall be made upon the Borrower’s irrevocable notice to the Administrative Agent, which may be given by (aA) telephone, or (bB) a Committed Loan Notice; provided that any telephone notice must be confirmed promptly on the same date prior to 2:00 p.m. New York City time such telephonic notice is given immediately by delivery to the Administrative Agent of a Committed Loan Notice. Other than as set forth above with respect to Term Loan Borrowings on the Closing Date, each Each such Committed Loan Notice must be received by the Administrative Agent not later than 11:00 a.m. (i) 11:00 a.m., New York City time, three (3) Business Days prior to the requested date of any borrowing of, conversion to or continuation of Eurocurrency Term Eurodollar Loans or of any conversion of Eurocurrency Term Eurodollar Loans to ABR Base Rate Loans, and (ii) no later than 12:00 Noon, New York City time, on one (1) Business Day prior to the requested date of any borrowing or continuation of ABR Base Rate Loans.

Procedure for Term Loan Borrowings. The Borrower shall give the Administrative Agent irrevocable notice (which notice must be received by the Administrative Agent prior to 12:00 Noon, New York City time, one Business Day prior to the Closing Date) requesting that the Term Lenders make the Closing Date Term Loans on the Closing Date and specifying the amount to be borrowed. Upon receipt of such notice the Administrative Agent shall promptly notify each applicable Term Lender thereof. Not later than 12:00 Noon, New York City time, on the Closing Date, each applicable Term Lender shall make available to the Administrative Agent at the Funding Office an amount in immediately available funds equal to the Closing Date Term Loans to be made by such Lender. The Administrative Agent shall make the proceeds of such Closing Date Term Loans available to the Borrower on such Borrowing Date by wire transfer in immediately available funds to the Escrow Account as designated in writing by the Borrower to the Administrative Agent. After the Closing Date, each borrowing of Term Loans, each conversion of Term Loans from one Type to the other, and each continuation of Eurocurrency Term Loans shall be made upon the Borrower’s irrevocable notice to the Administrative Agent, which may be given by (a) telephone, or (b) a Committed Loan Notice; provided that any telephone notice must be confirmed promptly on the same date prior to 2:00 p.m. New York City time such telephonic notice is given by delivery to the Administrative Agent of a Committed Loan Notice. Other than as set forth above with respect to Term Loan Borrowings on the Closing Date, each such Committed Loan Notice must be received by the Administrative Agent not later than (i) 11:00 a.m., New York City time, three (3) Business Days prior to the requested date of any borrowing of, conversion to or continuation of Eurocurrency Term Loans or of any conversion of Eurocurrency Term Loans to ABR Loans, and (ii) no later than 12:00 Noon, New York City time, on the requested date of any borrowing or continuation of ABR Loans.provided

Procedure for Term Loan Borrowings. The Borrower shall give the Administrative Agent irrevocable notice (which notice must be received by the Administrative Agent prior to 12:00 Noon, New York City time, one Business Day prior to the Closing Date) requesting that the Term Lenders make the Closing Date Term Loans on the Closing Date and specifying the amount to be borrowed. Upon receipt of such notice the Administrative Agent shall promptly notify each applicable Term Lender thereof. Not later than 12:00 Noon, New York City time, on the Closing Date, each applicable Term Lender shall make available to the Administrative Agent at the Funding Office an amount in immediately available funds equal to the Closing Date Term Loans to be made by such Lender. The Administrative Agent shall make the proceeds of such Closing Date Term Loans available to the Borrower on such Borrowing Date by wire transfer in immediately available funds to the Escrow Account as designated in writing by the Borrower to the Administrative Agent. After the Closing Date, each borrowing of Term Loans, each conversion of Term Loans from one Type to the other, and each continuation of Eurocurrency EurocurrencySOFR Term Loans shall be made upon the Borrower’s irrevocable notice to the Administrative Agent, which may be given by (a) telephone, or (b) a Committed Loan Notice; provided that any telephone notice must be confirmed promptly on the same date prior to 2:00 p.m. New York City time such telephonic notice is given by delivery to the Administrative Agent of a Committed Loan Notice. Other than as set forth above with respect to Term Loan Borrowings on the Closing Date, each such Committed Loan Notice must be received by the Administrative Agent not later than (i) 11:00 a.m., New York City time, three (3) Business Days prior to the requested date of any borrowing of, conversion to or continuation of Eurocurrency EurocurrencySOFR Term Loans or of any conversion of Eurocurrency EurocurrencySOFR Term Loans to ABR Loans, and (ii) no later than 12:00 Noon, New York City time, on the requested date of any borrowing or continuation of ABR Loans.