Common use of Procedures for Loans Clause in Contracts

Procedures for Loans. Administrative Agent shall give written notice to each Lender of each request for a Revolving Loan, or Conversion of an existing Revolving Loan, by facsimile transmission, hand delivery or overnight courier, not later than 1:00 p.m. (Boston time) (i) three (3) Business Days prior to the making of a Revolving Loan which is a Libor Rate Loan or conversion of a Base Rate Loan into a Libor Rate Loan, or (ii) one (1) Business Day prior to the making of a Revolving Loan which is a Base Rate Loan or conversion of a Libor Rate Loan into a Base Rate Loan. Each such notice shall be accompanied by a written summary of the request for a Revolving Loan and shall specify (a) the date of the requested Revolving Loan, (b) the aggregate amount of the requested Revolving Loan, (c) each Lender's pro rata share of the requested Revolving Loan, and (d) the applicable interest rate selected by Borrowers with respect to such Revolving Loan, or any portion thereof, together with the applicable Interest Period, if -95- any, selected, or deemed selected, by such Borrowers. Each Lender shall, before 11:00 a.m. (Boston time) on the date set forth in any such request for a Revolving Loan, make available to the Administrative Agent, at an account to be designated by the Administrative Agent at Fleet in Boston, Massachusetts, in same day funds, each Lender's ratable portion of the requested Revolving Loan. After the Administrative Agent's receipt of such funds (or, if the Administrative Agent so elects at its discretion, as otherwise provided in Section 14.2(f) below) and upon the Administrative Agent's determination that the applicable conditions to making the requested Revolving Loan have been fulfilled, the Administrative Agent shall make such funds available to the Borrowers as provided for in this Agreement. Within a reasonable period of time following the making of each Revolving Loan, but in no event later than ten (10) Business Days following such Revolving Loan, the Administrative Agent shall deliver to each Lender a copy of the Borrowers' request for such Revolving Loan. Promptly after receipt by the Administrative Agent of written request from any Lender, the Administrative Agent shall deliver to the requesting Lender the accompanying certifications and such other instruments, documents, certifications and approvals delivered by or on behalf of Borrowers to the Administrative Agent in support of the requested Revolving Loan. The procedures for Swingloans and Bid Rate Loans are set forth in Sections 4.2 and 4.2A, respectively.

Appears in 1 contract

Samples: Revolving Credit Agreement and Guaranty (Heritage Property Investment Trust Inc)

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Procedures for Loans. Administrative Agent shall give written notice to each Lender of each request for a Revolving Loan, or Conversion conversion of an existing Revolving LoanLoan from a Variable Rate Advance to an Effective LIBO Rate Advance, by facsimile transmission, hand delivery or overnight courier, not later than 1:00 p.m. 11:00 a.m. (Boston time) (i) three two (32) Business Days prior to the making of a Revolving Loan which is a Libor any Effective LIBO Rate Loan Advance or conversion of a Base to an Effective LIBO Rate Loan into a Libor Rate LoanAdvance, or (ii) one (1) Business Day prior to the making of a Revolving Loan which is a Base any Variable Rate Loan or conversion of a Libor Rate Loan into a Base Rate LoanAdvance. Each such notice shall be accompanied by a written summary of the request for a Revolving Loan and shall specify (a) the date of the requested Revolving Loan, (b) the aggregate amount of the requested Revolving Loan, (c) each Lender's pro rata share of the requested Revolving Loan, and (d) the applicable interest rate selected by Borrowers the subject Borrower with respect to such Revolving Loan, or any portion thereof, together with the applicable Interest Period, if -95- any, selected, or deemed selected, by such BorrowersBorrower. Each Lender shall, before 11:00 a.m. (Boston time) on the date set forth in any such request for a Revolving Loan, make available to the Administrative Agent, at an account to be designated by the Administrative Agent at Fleet National Bank in Boston, Massachusetts, in same day funds, each Lender's ratable portion of the requested Revolving Loan. After the Administrative Agent's receipt of such funds (or, if the Administrative Agent so elects at its discretion, as otherwise provided in Section 14.2(f) below) and upon the Administrative Agent's determination that the applicable conditions to making the requested Revolving Loan have been fulfilled, the Administrative Agent shall make such funds available to the Borrowers such Borrower as provided for in this Loan Agreement. Within a reasonable period of time following the making of each Revolving Loan, but in no event later than ten (10) Business Days following such Revolving Loan, the Administrative Agent shall deliver to each Lender a copy of the Borrowers' such Borrower's request for such Revolving Loan. Promptly after receipt by the Administrative Agent of written request from any Lender, the Administrative Agent shall deliver to the requesting Lender the accompanying certifications and such other instruments, documents, certifications and approvals delivered by or on behalf of Borrowers such Borrower to the Administrative Agent in support of the requested Revolving Loan. The procedures for Swingloans and Bid Rate Loans are set forth in Sections 4.2 and 4.2A, respectively.

Appears in 1 contract

Samples: Master Loan Agreement (Newkirk Master Lp)

Procedures for Loans. Administrative Agent shall give written notice to each Lender of each request for a Revolving Loan, or Conversion conversion of an existing Revolving LoanLoan from a Variable Rate Advance to a LIBO Rate Advance, by facsimile transmission, hand delivery or overnight courier, not later than 1:00 p.m. 11:00 a.m. (Boston time) (i) three (3) Business Days prior to the making of a Revolving Loan which is a Libor any LIBO Rate Loan Advance or conversion of to a Base LIBO Rate Loan into a Libor Rate LoanAdvance, or (ii) one (1) Business Day prior to the making of a Revolving Loan which is a Base any Variable Rate Loan or conversion of a Libor Rate Loan into a Base Rate LoanAdvance. Each such notice shall be accompanied by a written summary of the request for a Revolving Loan and shall specify (a) the date of the requested Revolving Loan, (b) the aggregate amount of the requested Revolving Loan, (c) each Lender's ’s pro rata share of the requested Revolving Loan, and (d) the applicable interest rate selected by Borrowers Borrower with respect to such Revolving Loan, or any portion thereof, together with the applicable Interest Period, if -95- any, selected, or deemed selected, by such BorrowersBorrower. Each Lender shall, before 11:00 a.m. (Boston time) on the date set forth in any such request for a Revolving Loan, make available to the Administrative Agent, at an account to be designated by the Administrative Agent at Fleet in Boston, MassachusettsAnglo Irish Bank Corporation plc, in same day funds, each Lender's ’s ratable portion of the requested Revolving Loan. After the Administrative Agent's ’s receipt of such funds (or, if the Administrative Agent so elects at its discretion, as otherwise provided in Section 14.2(f) below) and upon the Administrative Agent's ’s determination that the applicable conditions to making the requested Revolving Loan have been fulfilled, the Administrative Agent shall make such funds available to the Borrowers Borrower as provided for in this Loan Agreement. Within a reasonable period of time following the making of each Revolving Loan, but in no event later than ten (10) Business Days following such Revolving Loan, the Administrative Agent shall deliver to each Lender a copy of the Borrowers' Borrower’s request for such Revolving LoanLoans. Promptly after receipt by the Administrative Agent of written request from any Lender, the Administrative Agent shall deliver to the requesting Lender the accompanying certifications and such other instruments, documents, certifications and approvals delivered by or on behalf of Borrowers Borrower to the Administrative Agent in support of the requested Revolving Loan. The procedures for Swingloans and Bid Rate Loans are set forth in Sections 4.2 and 4.2A, respectively.

Appears in 1 contract

Samples: Loan Agreement (STAG Industrial, Inc.)

Procedures for Loans. Administrative Agent shall give written notice to each Lender of each request for a Revolving Loan, or Conversion of an existing Revolving LoanBorrowing, by facsimile transmission, hand delivery or overnight courier, not later than 1:00 p.m. 11:00 a.m. (Boston time) (iEastern Standard Time) three (3) Business Days prior to the making of a Revolving Loan which is a Libor Rate Loan or conversion of a Base Rate Loan into a Libor Rate Loan, or (ii) one (1) Business Day prior to the making of a Revolving Loan which is a Base Rate Loan or conversion of a Libor Rate Loan into a Base Rate Loanany Borrowing. Each such notice Request for Advance shall be accompanied by a written summary of the request for a Revolving Loan Borrowing and shall specify (a) the date of the requested Revolving LoanBorrowing, (b) the aggregate amount of the requested Revolving LoanBorrowing, and (c) each Lender's pro rata ’s Pro Rata share of the requested Revolving Loan, and (d) the applicable interest rate selected by Borrowers with respect to such Revolving Loan, or any portion thereof, together with the applicable Interest Period, if -95- any, selected, or deemed selected, by such BorrowersLoans. Each Lender shall, before 11:00 a.m. (Boston timeEastern Standard Time) on the date set forth in any such request for a Revolving LoanBorrowing, make available to the Administrative Agent, at an account to be designated by the Administrative Agent at Fleet KeyBank, National Association in BostonCleveland, MassachusettsOhio, in same day funds, each Lender's ’s ratable portion of the requested Revolving LoanLoans. After the Administrative Agent's ’s receipt of such funds (or, if the Administrative Agent so elects at its discretion, as otherwise provided in Section 14.2(f) below) and upon the Administrative Agent's ’s determination that the applicable conditions to making the requested Revolving Loan have been fulfilled, the Administrative Agent shall make such funds available to the Borrowers Borrower as provided for in this Agreement. Within a reasonable period of time following the making of each Revolving such Loan, but in no event later than ten (10) Business Days following such Revolving LoanLoans, the Administrative Agent shall deliver to each Lender a copy of the Borrowers' Borrower’s request for such Revolving LoanLoans. Promptly after receipt by the Administrative Agent of written request from any Lender, the Administrative Agent shall deliver to the requesting Lender the accompanying certifications and such other instruments, documents, certifications and approvals delivered by or on behalf of Borrowers Borrower to the Administrative Agent in support of the requested Revolving Loan. The procedures for Swingloans and Bid Rate Loans are set forth in Sections 4.2 and 4.2A, respectivelyLoans.

Appears in 1 contract

Samples: Revolving Credit Agreement (TNP Strategic Retail Trust, Inc.)

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Procedures for Loans. Administrative Agent shall give written notice to each Lender of each request for a Revolving Loanan Advance, or Conversion conversion of an existing Revolving LoanAdvance from a Variable Rate Advance to a LIBOR Advance, by facsimile transmission, hand delivery or overnight courier, not later than 1:00 p.m. 11:00 a.m. (Boston timeEastern Time) (i) three two (32) Business Days prior to the making of a Revolving Loan which is a Libor Rate Loan any LIBOR Advance or conversion of to a Base Rate Loan into a Libor Rate LoanLIBOR Advance, or (ii) one (1) Business Day prior to the making of a Revolving Loan which is a Base any Variable Rate Loan or conversion of a Libor Rate Loan into a Base Rate LoanAdvance. Each such notice shall be accompanied by a written summary of the request for a Revolving Loan and shall specify (a) the date of the requested Revolving Loan, (b) the aggregate amount of the requested Revolving Loan, (c) each Lender's ’s pro rata share of the requested Revolving Loan, and (d) the applicable interest rate selected by Borrowers Borrower with respect to such Revolving Loan, or any portion thereof, together with the applicable Interest Period, if -95- any, selected, or deemed selected, by such BorrowersBorrower. Each Lender shall, before 11:00 a.m. (Boston timeEastern Time) on the date set forth in any such request for a Revolving Loan, make available to the Administrative Agent, at an account to be designated by the Administrative Agent at Fleet Santander Bank in BostonNew York, MassachusettsNew York, in same day funds, each Lender's ’s ratable portion of the requested Revolving Loan. After the Administrative Agent's ’s receipt of such funds (or, if the Administrative Agent so elects at its discretion, as otherwise provided in Section 14.2(f) below) and upon the Administrative Agent's ’s determination that the applicable conditions to making the requested Revolving Loan have been fulfilled, the Administrative Agent shall make such funds available to the Borrowers Borrower as provided for in this Loan Agreement. Within a reasonable period of time following the making of each Revolving Loan, but in no event later than ten (10) Business Days following such Revolving Loan, the Administrative Agent shall deliver to each Lender a copy of the Borrowers' Borrower’s request for such Revolving Loan. Promptly after receipt by the Administrative Agent of written request from any Lender, the Administrative Agent shall deliver to the requesting Lender the accompanying certifications and such other instruments, documents, certifications and approvals delivered by or on behalf of Borrowers Borrower to the Administrative Agent in support of the requested Revolving Loan. The procedures for Swingloans and Bid Rate Loans are set forth in Sections 4.2 and 4.2A, respectively.

Appears in 1 contract

Samples: Construction Loan Agreement (CNL Growth Properties, Inc.)

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