Common use of Procedures for Advances Clause in Contracts

Procedures for Advances. In the case of advances of Ratable Loans, Borrower shall submit to Administrative Agent a request for each advance, stating the amount requested and the expected purpose for which such advance is to be used, no later than 11:00 a.m. (New York time) on the date, in the case of advances of Base Rate Loans, which is one (1) Banking Day, and, in the case of advances of LIBOR Loans, which is three (3) Banking Days, prior to the date such advance is to be made. In the case of advances of Bid Rate Loans, Borrower shall submit a Bid Rate Quote Request at the time specified in Section 2.02, accompanied by a statement of the expected purpose for which such advance is to be used. In the case of advances of Swingline Loans, Borrower shall submit a notice of borrowing at the time specified in Section 2.03, accompanied by a statement of the expected purpose for which such advance is to be used. Administrative Agent, upon its receipt and approval of the request for advance, will so notify the Banks by facsimile. Not later than 11:30 a.m. (New York time) on the date of each advance, each Bank (in the case of Ratable Loans) or the applicable Banks (in the case of Bid Rate Loans) shall, through its Applicable Lending Office and subject to the conditions of this Agreement, make the amount to be advanced by it on such day available to Administrative Agent, at Administrative Agent’s Office and in immediately available funds for the account of Borrower. The amount so received by Administrative Agent shall, subject to the conditions of this Agreement, be made available to Borrower, in immediately available funds, by Administrative Agent’s to an account designated by Borrower.

Appears in 3 contracts

Samples: Revolving Credit Agreement (Vornado Realty Lp), Assignment and Assumption Agreement (Vornado Realty Lp), Assignment and Assumption Agreement (Vornado Realty Trust)

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Procedures for Advances. In the case of advances of Ratable Loans, Borrower shall submit to Administrative Agent a request for each advance, stating the amount requested and the expected purpose for which such advance is to be used, no later than 11:00 a.m. (New York time) on the date, in the case of advances of Base Rate Loans, which is one (1) Banking Daythe proposed date of such Base Rate Loan, and, in the case of advances of LIBOR Loans, which is three (3) Banking Days, prior to the date such advance is to be made. In the case of advances of Bid Rate Loans, Borrower shall submit a Bid Rate Quote Request at the time specified in Section 2.02, accompanied by a statement of the expected purpose for which such advance is to be used. In the case of advances of Swingline Loans, Borrower shall submit a notice of borrowing at the time specified in Section 2.03, accompanied by a statement of the expected purpose for which such advance is to be used. Administrative Agent, upon its receipt and approval of the request for advance, will so notify the Banks by facsimile. Not later than 11:30 a.m. (New York time) on the date of each advance, each Bank advance (or 1:00 p.m. (New York time) in the case of Ratable Loans) or a Base Rate Loan for which the applicable Banks (in the case of Bid Rate Loans) Borrower has made a Loan request on such date), each Bank shall, through its Applicable Lending Office and subject to the conditions of this Agreement, make the amount to be advanced by it on such day available to Administrative Agent, at Administrative Agent’s Office and in immediately available funds for the account of Borrower. The amount so received by Administrative Agent shall, subject to the conditions of this Agreement, be made available to Borrower, in immediately available funds, by Administrative Agent’s to an account designated by Borrower.

Appears in 3 contracts

Samples: Term Loan Agreement (Vornado Realty Lp), Term Loan Agreement (Vornado Realty Trust), Term Loan Agreement (Vornado Realty Lp)

Procedures for Advances. In the case of advances of Ratable Loans, Borrower shall submit to the Administrative Agent a request for each advance, stating the amount requested requested, and certifying the expected purpose for which such advance is to be used, no later than 11:00 10:00 a.m. (New York time) on the date, in the case of advances of Base Rate Loans, which is one (1) Banking Day, and, in the case of advances of LIBOR Loans, which is date three (3) Banking Days, Days prior to the date such the advance is to be made. In the case of advances of Bid Rate Loans, Borrower shall submit a Bid Rate Quote Request at the time specified in Section 2.02, accompanied by a statement certification of the expected purpose for which such advance is to be used. In the case of advances of Swingline Loans, Borrower shall submit a notice of borrowing at the time specified in Section 2.03, accompanied by a statement of the expected purpose for which such advance is to be used. The Administrative Agent, upon its receipt and approval of the request requisite documents for the advance, will so notify the Banks either by telephone or by facsimile. Not later than 11:30 10:00 a.m. (New York time) on the date of each advance, each Bank (in the case of Ratable Loans) or the applicable Banks Bank(s) (in the case of Bid Rate Loans) shall, through its Applicable Lending Office and subject to the conditions of this Agreement, make the amount to be advanced by it on such day available to the Administrative Agent, at the Administrative Agent’s 's Office and in immediately available funds for the account of Borrower. The amount so received by the Administrative Agent shall, subject to the conditions of this Agreement, be made available to Borrower, in immediately available funds, by the Administrative Agent’s to 's crediting an account of Borrower designated by BorrowerBorrower and maintained with the Administrative Agent at the Administrative Agent's Office.

Appears in 2 contracts

Samples: Revolving Loan Agreement (Taubman Centers Inc), Revolving Loan Agreement (Taubman Realty Group LTD Partnership)

Procedures for Advances. In the case of advances of Ratable Loans, Borrower shall submit to Administrative Agent a request for each advance, stating the amount requested and the expected purpose for which such advance is to be used, no later than 11:00 a.m. (New York time) on the date, in the case of advances of Base Rate Loans, which is one (1) Banking Day, and, in the case of advances of LIBOR Loans, which is three (3) Banking Days, prior to the date such advance is to be made. In the case of advances of Bid Rate Loans, Borrower shall submit a Bid Rate Quote Request at the time specified in Section 2.02, accompanied by a statement of the expected purpose for which such advance is to be used. In the case of advances of Swingline Loans, Borrower shall submit a notice of borrowing at the time specified in Section 2.03, accompanied by a statement of the expected purpose for which such advance is to be used. Administrative Agent, upon its receipt and approval of the request for advance, will so notify the Banks by facsimile. Not later than 11:30 a.m. (New York time) on the date of each advance, each Bank (in the case of Ratable Loans) or the applicable Banks (in the case of Bid Rate Loans) shall, through its Applicable Lending Office and subject to the conditions of this Agreement, make the amount to be advanced by it on such day available to Administrative Agent, at Administrative Agent’s 's Office and in immediately available funds for the account of Borrower. The amount so received by Administrative Agent shall, subject to the conditions of this Agreement, be made available to Borrower, in immediately available funds, by Administrative Agent’s 's to an account designated by Borrower.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Vornado Realty Trust), Assignment and Assumption Agreement (Vornado Realty Trust)

Procedures for Advances. In the case of advances of Ratable Loans, Borrower shall submit to Administrative Agent a request for each advance, stating the amount requested and the expected purpose for which such advance is to be used, no later than 11:00 a.m. (New York time) on the date, in the case of advances of Base Rate Loans and RFR Loans, which is one (1) Banking Daythe proposed date of such Base Rate Loan or RFR Loan, and, in the case of advances of LIBOR Term Benchmark Loans, which is three (3) Banking Days, prior to the date such advance is to be made. In the case of advances of Bid Rate Loans, Borrower shall submit a Bid Rate Quote Request at the time specified in Section 2.02, accompanied by a statement of the expected purpose for which such advance is to be used. In the case of advances of Swingline Loans, Borrower shall submit a notice of borrowing at the time specified in Section 2.03, accompanied by a statement of the expected purpose for which such advance is to be used. Administrative Agent, upon its receipt and approval of the request for advance, will so notify the Banks by facsimileBanks. Not later than 11:30 a.m. (New York time) on the date of each advance, each Bank advance (or 1:00 p.m. (New York time) in the case of Ratable Loans) a Base Rate Loan or a RFR Loan for which the applicable Banks (in the case of Bid Rate Loans) Borrower has made a Loan request on such date), each Bank shall, through its Applicable Lending Office and subject to the conditions of this Agreement, make the amount to be advanced by it on such day available to Administrative Agent, at Administrative Agent’s Office and in immediately available funds for the account of Borrower. The amount so received by Administrative Agent shall, subject to the conditions of this Agreement, be made available to Borrower, in immediately available funds, by Administrative Agent’s to an account designated by Borrower.

Appears in 1 contract

Samples: Revolving Credit Agreement (Vornado Realty Lp)

Procedures for Advances. In the case of advances of Ratable Loans, Borrower shall submit to Administrative Agent a request for each advance, stating the amount requested and the expected purpose for which such advance is to be used, no later than 11:00 a.m. (New York time) on the date, in the case of advances of Base Rate Loans, which is one (1) Banking Daythe proposed date of such Base Rate Loan, and, in the case of advances of LIBOR Term Benchmark Loans, which is three (3) Banking Days, prior to the date such advance is to be made. In the case of advances of Bid Rate Loans, Borrower shall submit a Bid Rate Quote Request at the time specified in Section 2.02, accompanied by a statement of the expected purpose for which such advance is to be used. In the case of advances of Swingline Loans, Borrower shall submit a notice of borrowing at the time specified in Section 2.03, accompanied by a statement of the expected purpose for which such advance is to be used. Administrative Agent, upon its receipt and approval of the request for advance, will so notify the Banks by facsimileBanks. Not later than 11:30 a.m. (New York time) on the date of each advance, each Bank advance (or 1:00 p.m. (New York time) in the case of Ratable Loans) or a Base Rate Loan for which the applicable Banks (in the case of Bid Rate Loans) Borrower has made a Loan request on such date), each Bank shall, through its Applicable Lending Office and subject to the conditions of this Agreement, make the amount to be advanced by it on such day available to Administrative Agent, at Administrative Agent’s Office and in immediately available funds for the account of Borrower. The amount so received by Administrative Agent shall, subject to the conditions of this Agreement, be made available to Borrower, in immediately available funds, by Administrative Agent’s to an account designated by Borrower.

Appears in 1 contract

Samples: Term Loan Agreement (Vornado Realty Lp)

Procedures for Advances. In the case of advances of Ratable Loans, Each Borrower requesting an advance shall submit to Administrative Agent a request for each advanceadvance hereunder, in the form of EXHIBIT G-1 for Dolphin LLC, EXHIBIT G-2 for Fairlane LLC and EXHIBIT G-3 for TOLLC, stating the amount requested by such Borrower and certifying the expected purpose for which such advance is to be used, no later than 11:00 a.m. 12:00 Noon (New York time) on the date, date (x) in the case of advances of Base Rate Loans, which is one (1) Banking Day, and, in the case of advances of LIBOR Loans, which is three (3) Banking Days, and (y) in the case of Base Rate Loans, one (1) Banking Day prior to the date such the advance is to be made. In the case of advances of Bid Rate Loans, Borrower shall submit a Bid Rate Quote Request at the time specified in Section 2.02, accompanied by a statement of the expected purpose for which such advance is to be used. In the case of advances of Swingline Loans, Borrower shall submit a notice of borrowing at the time specified in Section 2.03, accompanied by a statement of the expected purpose for which such advance is to be used. Administrative Agent, upon its receipt and approval of the request requisite documents for the advance, will so notify the Banks either by telephone or by facsimile. Not later than 11:30 11:00 a.m. (New York time) on the date of each advance, each Bank (in the case of Ratable Loans) or the applicable Banks (in the case of Bid Rate Loans) shall, through its Applicable Lending Office and subject to the conditions of this Agreement, make the amount to be advanced by it on such day available to Administrative Agent, at Administrative Agent’s Office and in immediately available funds for the account of the applicable Borrower. The amount so received by Administrative Agent shall, subject to the conditions of this Agreement, be made available to the applicable Borrower, in immediately available funds, by Administrative Agent’s to either, at the applicable Borrower’s option, crediting an account of the applicable Borrower designated by Borrowersuch Borrower and maintained with Administrative Agent at Administrative Agent’s Office or wiring said amount to another account of Borrower designated by it in its request for advance.

Appears in 1 contract

Samples: Assignment and Assumption Agreement (Taubman Centers Inc)

Procedures for Advances. In the case of advances an advance of Ratable Loansthe Loans hereunder on the Effective Date or any Increased Amount Date, Borrower shall submit to Administrative Agent a an irrevocable request for each such advance, stating the amount requested and certifying the expected purpose purpose, in general terms, for which such advance is to be used, no later than 11:00 a.m. (New York time) on the date, in the case of advances an advance of Base Rate Loans, which is one (1) Banking Day, and, in the case of advances an advance of LIBOR Loans, which is three (3) Banking Days, prior to the date such advance is to be made. In the case of advances of Bid Rate Loans, Borrower shall submit a Bid Rate Quote Request at the time specified in Section 2.02, accompanied by a statement of the expected purpose for which such advance is to be used. In the case of advances of Swingline Loans, Borrower shall submit a notice of borrowing at the time specified in Section 2.03, accompanied by a statement of the expected purpose for which such advance is to be used. Administrative Agent, upon on the Banking Day of its receipt and approval of the request for advance, will so notify the Banks either by telephone or by facsimile. Not later than 11:30 11:00 a.m. (New York time) on the date of each such advance, each Bank (in the case of Ratable Loans) or the applicable Banks (in the case of Bid Rate Loans) shall, through its Applicable Lending Office and subject to the conditions of this Agreement, make the amount to be advanced by it on such day available to Administrative Agent, at Administrative Agent’s Office and in immediately available funds for the account of Borrower. The amount so received by Administrative Agent shall, subject to the conditions of this Agreement, be made available to Borrower, in immediately available funds, by Administrative Agent’s to crediting an account of Borrower designated by BorrowerBorrower and maintained with Administrative Agent at Administrative Agent’s Office.

Appears in 1 contract

Samples: Assignment and Acceptance (Avalonbay Communities Inc)

Procedures for Advances. In the case of advances of Ratable Loans, Borrower shall submit to Administrative Agent a request for each advance, stating the amount requested and the expected purpose for which such advance is to be used, no later than 11:00 10:00 a.m. (New York time) on the date, in the case of advances of Base Rate Loans, which is one (1) Banking Day, and, in the case of advances of LIBOR Loans, date which is three (3) Banking Days, Days prior to the date such the advance is to be made. In the case of advances of Bid Rate Loans, Borrower shall submit a Bid Rate Quote Request at the time specified in Section 2.02, accompanied by a statement of the expected purpose for which such advance is to be used. In the case of advances of Swingline Loans, Borrower shall submit a notice of borrowing at the time specified in Section 2.03, accompanied by a statement of the expected purpose for which such advance is to be used. Administrative Agent, upon its receipt and approval of the request for advance, will so notify the Banks either by telephone or by facsimile. Not later than 11:30 10:00 a.m. (New York time) on the date of each advance, each Bank (in the case of Ratable Loans) or the applicable Banks Bank(s) (in the case of Bid Rate Loans) shall, through its Applicable Lending Office and subject to the conditions of this Agreement, make the amount to be advanced by it on such day available to Administrative Agent, at Administrative Agent’s 's Office and in immediately available funds for the account of Borrower. The amount so received by Administrative Agent shall, subject to the conditions of this Agreement, be made available to Borrower, in immediately available funds, Borrower by Administrative Agent by federal funds transfer to such account as Borrower may designate in writing to Administrative Agent’s to an account designated by Borrower.

Appears in 1 contract

Samples: Revolving Credit Agreement (First Washington Realty Trust Inc)

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Procedures for Advances. In the case of advances of Ratable Loans, Each Borrower requesting an advance shall submit to Administrative Agent a request for each advanceadvance hereunder, in the form of EXHIBIT G‑1 for Dolphin LLC, EXHIBIT G‑2 for Fairlane LLC and EXHIBIT G‑3 for TOLLC, stating the amount requested by such Borrower and certifying the expected purpose for which such advance is to be used, no later than 11:00 a.m. 12:00 Noon (New York time) on the date, date (x) in the case of advances of Base Rate Loans, which is one (1) Banking Day, and, in the case of advances of LIBOR Loans, which is three (3) Banking Days, and (y) in the case of Base Rate Loans, one (1) Banking Day prior to the date such the advance is to be made. In the case of advances of Bid Rate Loans, Borrower shall submit a Bid Rate Quote Request at the time specified in Section 2.02, accompanied by a statement of the expected purpose for which such advance is to be used. In the case of advances of Swingline Loans, Borrower shall submit a notice of borrowing at the time specified in Section 2.03, accompanied by a statement of the expected purpose for which such advance is to be used. Administrative Agent, upon its receipt and approval of the request requisite documents for the advance, will so notify the Banks either by telephone or by facsimile. Not later than 11:30 11:00 a.m. (New York time) on the date of each advance, each Bank (in the case of Ratable Loans) or the applicable Banks (in the case of Bid Rate Loans) shall, through its Applicable Lending Office and subject to the conditions of this Agreement, make the amount to be advanced by it on such day available to Administrative Agent, at Administrative Agent’s Office and in immediately available funds for the account of the applicable Borrower. The amount so received by Administrative Agent shall, subject to the conditions of this Agreement, be made available to the applicable Borrower, in immediately available funds, by Administrative Agent’s to either, at the applicable Borrower’s option, crediting an account of the applicable Borrower designated by Borrowersuch Borrower and maintained with Administrative Agent at Administrative Agent’s Office or wiring said amount to another account of Borrower designated by it in its request for advance.

Appears in 1 contract

Samples: Assignment and Assumption Agreement (Taubman Centers Inc)

Procedures for Advances. In the case of advances of Ratable Loans, Borrower shall submit to Administrative Agent a request for each advance, stating the amount requested and the expected purpose for which such advance is to be used, no later than 11:00 a.m. (New York time) on the date, in the case of advances of Base Rate Loans, which is one (1) Banking Day, and, in the case of advances of LIBOR Loans, which is three (3) Banking Days, Days prior to the date such the advance is to be made. In the case of advances of Bid Rate Loans, Borrower shall submit a Bid Rate Quote Request at the time specified in Section 2.02, accompanied by a statement of the expected purpose for which such advance is to be used. In the case of advances of Swingline Loansstatement, Borrower shall submit a notice of borrowing at the time specified in Section 2.03general terms, accompanied by a statement of the expected purpose for which such advance is to be used. Administrative Agent, upon its receipt and approval of the request for advance, will so notify the Banks either by telephone or by facsimile. Not later than 11:30 10:00 a.m. (New York time) on the date of each advance, each Bank (in the case of Ratable Loans) or the applicable Banks Bank(s) (in the case of Bid Rate Loans) shall, through its Applicable Lending Office and subject to the conditions of this Agreement, make the amount to be advanced by it on such day available to Administrative Agent, at Administrative Agent’s 's Office and in immediately available funds for the account of Borrower. The amount so received by Administrative Agent shall, subject to the conditions of this Agreement, be made available to Borrower, in immediately available funds, Borrower by Administrative Agent by federal funds transfer to such bank account of Borrower as Borrower may designate in writing to Administrative Agent’s to an account designated by Borrower.

Appears in 1 contract

Samples: Revolving Credit Agreement (Price Enterprises Inc)

Procedures for Advances. In the case of advances of Ratable LoansTerm Loans hereunder, Borrower shall submit to Administrative Agent a an irrevocable request for each advance, stating the amount requested requested, and, in the case of LIBOR Loans, the initial Interest Period for such LIBOR Loans, and certifying the expected purpose purpose, in general terms, for which such advance is to be used, no later than 11:00 10:00 a.m. (New York Minneapolis time) on the date, in the case of advances of Base Rate Loans, which is one (1) Banking Day, and, in the case of advances of LIBOR Loans, which is three (3) Banking Days, prior to the date such the advance is to be made. In the case of Any advances of Bid Rate Loans, Borrower Incremental Term Loans hereunder shall submit a Bid Rate Quote Request at the time specified be made in accordance with Section 2.02, accompanied by a statement of the expected purpose for which such advance is to be used. In the case of advances of Swingline Loans, Borrower shall submit a notice of borrowing at the time specified in Section 2.03, accompanied by a statement of the expected purpose for which such advance is to be used2.19. Administrative Agent, upon on the Banking Day of its receipt and approval of the request for advance, will so notify the Banks either by telephone or by facsimile. Not later than 11:30 10:00 a.m. (New York Minneapolis time) on the date of each advance, each applicable Bank (in the case of Ratable Loans) or the applicable Banks (in the case of Bid Rate Loans) shall, through its Applicable Lending Office and subject to the conditions of this Agreement, make the amount to be advanced by it on such day available to Administrative Agent, at Administrative Agent’s Office and in immediately available funds for the account of Borrower. The amount so received of the advance requested by Borrower (or, if less, the portion of such requested amount that shall have been paid to Administrative Agent by the Banks in accordance with the terms hereof) shall, subject to the conditions of this Agreement, be made available to Borrower, in immediately available funds, by Administrative Agent’s to crediting an account of Borrower designated by BorrowerBorrower and maintained with Administrative Agent at Administrative Agent’s Office.

Appears in 1 contract

Samples: Term Loan Agreement (Avalonbay Communities Inc)

Procedures for Advances. In the case of advances of Ratable Loans, Each Borrower requesting an advance shall submit to Administrative Agent a request for each advanceadvance hereunder, in the form of EXHIBIT G-1 for Dolphin LP, EXHIBIT G-2 for Fairlane LLC and EXHIBIT G-3 for TOLLC, stating the amount requested by such Borrower and certifying the expected purpose for which such advance is to be used, no later than 11:00 a.m. 12:00 Noon (New York time) on the date, date (x) in the case of advances of Base Rate Loans, which is one (1) Banking Day, and, in the case of advances of LIBOR Loans, which is three (3) Banking Days, and (y) in the case of Base Rate Loans, one (1) Banking Day prior to the date such the advance is to be made. In the case of advances of Bid Rate Loans, Borrower shall submit a Bid Rate Quote Request at the time specified in Section 2.02, accompanied by a statement of the expected purpose for which such advance is to be used. In the case of advances of Swingline Loans, Borrower shall submit a notice of borrowing at the time specified in Section 2.03, accompanied by a statement of the expected purpose for which such advance is to be used. Administrative Agent, upon its receipt and approval of the request requisite documents for the advance, will so notify the Banks either by telephone or by facsimile. Not later than 11:30 11:00 a.m. (New York time) on the date of each advance, each Bank (in the case of Ratable Loans) or the applicable Banks (in the case of Bid Rate Loans) shall, through its Applicable Lending Office and subject to the conditions of this Agreement, make the amount to be advanced by it on such day available to Administrative Agent, at Administrative Agent’s Office and in immediately available funds for the account of the applicable Borrower. The amount so received by Administrative Agent shall, subject to the conditions of this Agreement, be made available to the applicable Borrower, in immediately available funds, by Administrative Agent’s to either, at the applicable Borrower’s option, crediting an account of the applicable Borrower designated by Borrowersuch Borrower and maintained with Administrative Agent at Administrative Agent’s Office or wiring said amount to another account of Borrower designated by it in its request for advance.

Appears in 1 contract

Samples: Assignment and Assumption Agreement (Taubman Centers Inc)

Procedures for Advances. In the case of advances of Ratable Loans, Borrower shall submit to Administrative Agent a request for each advance, stating the amount requested and the expected purpose for which such advance is to be used, no later than 11:00 a.m. (New York time) on the date, in the case of advances of Base Rate Loans, which is one (1) Banking Daythe proposed date of such Base Rate Loan, and, in the case of advances of LIBOR Loans, which is three (3) Banking Days, prior to the date such advance is to be made. In the case of advances of Bid Rate Loans, Borrower shall submit a Bid Rate Quote Request at the time specified in Section 2.02, accompanied by a statement of the expected purpose for which such advance is to be used. In the case of advances of Swingline Loans, Borrower shall submit a notice of borrowing at the time specified in Section 2.03, accompanied by a statement of the expected purpose for which such advance is to be used. Administrative Agent, upon its receipt and approval of the request for advance, will so notify the Banks by facsimile. Not later than 11:30 a.m. (New York time) on the date of each advanceadvance (or 1:00 p.m. (New York time) in the case of a Base Rate Loan for which the Borrower has made a Loan request on such date), each Bank (in the case of Ratable Loans) or the applicable Banks (in the case of Bid Rate Loans) shall, through its Applicable Lending Office and subject to the conditions of this Agreement, make the amount to be advanced by it on such day available to Administrative Agent, at Administrative Agent’s Office and in immediately available funds for the account of Borrower. The amount so received by Administrative Agent shall, subject to the conditions of this Agreement, be made available to Borrower, in immediately available funds, by Administrative Agent’s to an account designated by Borrower.

Appears in 1 contract

Samples: Revolving Credit Agreement (Vornado Realty Lp)

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