Common use of Requests for Borrowing Clause in Contracts

Requests for Borrowing. (a) In order to request a Revolving Credit Borrowing, the Borrower shall notify the Agent of such request either in writing by delivery of a Borrowing Request (by hand, electronic mail, or facsimile) signed by the Borrower or by telephone (to be confirmed promptly by hand delivery, electronic mail, or facsimile of written notice) not later than 11:00 a.m., New York City time, (A) in the case of a LIBO Rate Borrowing, three (3) Business Days before a proposed Revolving Credit Borrowing (or such later time on such Business Day as shall be acceptable to the Agent) and (B) in the case of an ABR Borrowing, one (1) Business Day before a proposed Revolving Credit Borrowing (or such later time as shall be acceptable to the Agent and each Lender). Each such telephonic and written Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.01: (i) the aggregate amount of the requested Revolving Credit Borrowing; (ii) the date of the Revolving Credit Borrowing, which shall be a Business Day; (iii) whether the Revolving Credit Borrowing then being requested is to be an Incremental Revolving Credit Borrowing, and whether such Revolving Credit Borrowing is to be an ABR Borrowing or a LIBO Rate Borrowing; (iv) in the case of a LIBO Rate Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”; and (v) the location and number of the Borrower’s account to which funds are to be disbursed; provided, however, that notwithstanding any contrary specification in any Borrowing Request, each requested Revolving Credit Borrowing shall comply with the requirements set forth in Section 2.02 and Section 2.04. (b) If no election as to the Type of Revolving Credit Borrowing is specified, then the requested Revolving Credit Borrowing shall be an ABR Borrowing. If no Interest Period is specified with respect to any LIBO Rate Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. Promptly following receipt of the Borrowing Request in accordance with this Section 2.03 (but in any event on the same day such Borrowing Request is received by the Agent), the Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Revolving Loan to be made as part of the requested Revolving Credit Borrowing.

Appears in 2 contracts

Sources: Revolving Credit Agreement (Sunpower Corp), Revolving Credit Agreement (Sunpower Corp)

Requests for Borrowing. (a) In order to request a Revolving Credit Borrowing, the Borrower shall notify the Administrative Agent of such request either in writing by delivery of a Borrowing Request (by hand, electronic mail, or facsimile) signed by the Borrower or by telephone (to be confirmed promptly by hand deliverya) in the case of a Eurodollar Borrowing, electronic mail, or facsimile of written notice) not later than 11:00 a.m., New York City time, (A) in the case of a LIBO Rate Borrowing, three (3) Business Days before a proposed Revolving Credit Borrowing (or such later time on such Business Day as shall be acceptable to the Agent) Borrowing, and (Bb) in the case of an ABR Borrowing, not later than 11:00 a.m., New York City time, one (1) Business Day before a proposed Revolving Credit Borrowing (or such later time as shall be acceptable to the Agent and each Lender)Borrowing. Each such telephonic and written Borrowing Request shall be irrevocable irrevocable, and shall be confirmed promptly by hand delivery, e-mail or fax to the Administrative Agent of a written Borrowing Request and shall specify the following information in compliance with Section 2.01: information: (i) the aggregate amount of the requested Revolving Credit Borrowing; (ii) the date of the Revolving Credit Borrowing, which shall be a Business Day; (iii) whether the Revolving Credit Borrowing then being requested is to be an a Borrowing of Initial Term Loans or a Borrowing of Incremental Revolving Credit Borrowing, Loans and whether such Revolving Credit Borrowing is to be a Eurodollar Borrowing or an ABR Borrowing or a LIBO Rate Borrowing; ; (iviii) in the case of a LIBO Rate Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition number and location of the term “Interest Period”; and (v) the location and number of the Borrower’s account to which funds are to be disbursed; (iv) the amount of such Borrowing; and (v) if such Borrowing is to be a Eurodollar Borrowing, the Interest Period with respect thereto; provided, however, that that, notwithstanding any contrary specification in any Borrowing Request, each requested Revolving Credit Borrowing shall comply with the requirements set forth in Section 2.02 and Section 2.04. (b) 2.02. If no election as to the Type of Revolving Credit Borrowing is specifiedspecified in any such notice, then the requested Revolving Credit Borrowing shall be an ABR Borrowing. If no Interest Period is specified with respect to any LIBO Rate BorrowingEurodollar Borrowing is specified in any such notice, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. Promptly following receipt The Administrative Agent shall promptly advise the applicable Lenders of the Borrowing Request in accordance with any notice given pursuant to this Section 2.03 (but in any event on and the same day such Borrowing Request is received by the Agentcontents thereof), the Agent shall advise each Lender of the details thereof and of the amount of such each Lender’s Revolving Loan to be made as part portion of the requested Revolving Credit Borrowing. For the avoidance of doubt, the notice of the initial Borrowings on the Closing Date may be conditional on the effectiveness of this Agreement.

Appears in 2 contracts

Sources: Credit Agreement (Office Depot Inc), Credit Agreement (Office Depot Inc)

Requests for Borrowing. (a) In order to To request a Revolving Credit the Borrowing, the Borrower shall notify the Administrative Agent of such request either in writing by delivery of a Borrowing Request telephone, facsimile transmission or electronic mail (by hand, electronic mail, or facsimile) signed by the Borrower or by telephone (to be confirmed promptly by hand delivery, electronic mail, or facsimile of written notice) not later than 11:00 a.m., New York City time, (Aa) in the case of a LIBO Rate Eurodollar Borrowing, not later than 1:00 p.m., New York City time, three (3) Business Days before a the date of the proposed Revolving Credit Borrowing or (or such later time on such Business Day as shall be acceptable to the Agent) and (Bb) in the case of an ABR Borrowing, one not later than 1:00 p.m., New York City time, on the date of the proposed Borrowing; provided, however, that if the Borrower wishes to request Eurodollar Loans having an Interest Period other than seven days, one, two, three or six months in duration as provided in the definition of “Interest Period,” the applicable notice must be received by the Administrative Agent not later than 11:00 a.m. four Business Days prior to the requested date of such Borrowing, conversion or continuation, whereupon the Administrative Agent shall give prompt notice to the Lenders of such request and determine whether the requested Interest Period is acceptable to all of them. Not later than 11:00 a.m., three Business Days before the requested date of Borrowing or of such conversion or continuation, the Administrative Agent shall notify the Borrower (1which notice may be by telephone) Business Day before a proposed Revolving Credit whether or not the requested Interest Period has been consented to by all the Lenders. Each such Borrowing (or such later time as Request shall be acceptable irrevocable and, in the case of a telephonic Borrowing Request, shall be confirmed promptly by hand delivery, facsimile transmission or electronic mail to the Administrative Agent and each Lender)of a written Borrowing Request signed by the applicable Borrower. Each such telephonic and written Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.012.02: (i) the aggregate amount of the requested Revolving Credit Borrowing; (ii) the date of the Revolving Credit Borrowing, which shall be a Business Day; (iii) whether the Revolving Credit Borrowing then being requested is to be an Incremental Revolving Credit Borrowing, and whether such Revolving Credit Borrowing is to be an consist of ABR Borrowing Loans or a LIBO Rate BorrowingEurodollar Loans; (iv) in the case the Borrowing consists of a LIBO Rate BorrowingEurodollar Loans, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”; and (v) the location and number of the applicable Borrower’s account to which funds are to be disbursed; provided, however, that notwithstanding any contrary specification in any Borrowing Request, each requested Revolving Credit Borrowing which shall comply with the requirements set forth in of Section 2.02 and Section 2.04. (b) 2.07. If no election as to the Type of Revolving Credit Borrowing is specified, then the requested Revolving Credit Borrowing shall be an ABR Borrowing. If no Interest Period is specified with respect to any LIBO Rate requested Eurodollar Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. Promptly following receipt of the a Borrowing Request in accordance with this Section 2.03 (but in any event on the same day such Borrowing Request is received by the Agent)Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Revolving Loan to be made as part of the requested Revolving Credit Borrowing.

Appears in 2 contracts

Sources: Bridge Term Loan Credit Agreement (Southwestern Energy Co), Term Loan Credit Agreement (Southwestern Energy Co)

Requests for Borrowing. (a) In order to To request a Revolving Credit the Borrowing, the Borrower shall notify the Administrative Agent of such request either in writing by delivery of a Borrowing Request (by hand, electronic mail, or facsimile) signed by the Borrower or by telephone (to be confirmed promptly by hand deliverya) in the case of a Eurodollar Borrowing, electronic mail, or facsimile of written notice) not later than 11:00 a.m., New York City time, (A) in the case of a LIBO Rate Borrowing, three (3) Business Days before a the date of the proposed Revolving Credit Borrowing (or such later time on such Business Day as shall be acceptable to the Agent) and (Bb) in the case of an ABR Borrowing, one (1) Business Day before a not later than 11:00 a.m., New York City time, on the date of the proposed Revolving Credit Borrowing (or such later time as shall be acceptable to the Agent and each Lender)Borrowing. Each such Such telephonic and written Borrowing Request shall be irrevocable and shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written Borrowing Request in a form approved by the Administrative Agent and signed by the Borrower. Such telephonic and written Borrowing Request shall specify the following information in compliance with Section 2.012.02: (i) the aggregate amount of the requested Revolving Credit Borrowing; (ii) the date of the Revolving Credit Borrowing, which shall be a Business DayDay during the Availability Period; (iii) whether the Revolving Credit Borrowing then being requested is to be an Incremental Revolving Credit Borrowing, and whether such Revolving Credit Borrowing is to be an ABR Borrowing or a LIBO Rate Eurodollar Borrowing; (iv) in the case of a LIBO Rate Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”; and (v) the location and number of the Borrower’s account to which funds are to be disbursed; provided, however, that notwithstanding any contrary specification in any Borrowing Request, each requested Revolving Credit Borrowing which shall comply with the requirements set forth in Section 2.02 and of Section 2.04. (b) . If no election as to the Type of Revolving Credit Borrowing is specified, then the requested Revolving Credit Borrowing shall be an ABR a Eurodollar Borrowing. If no Interest Period is specified with respect to any LIBO Rate the Borrowing, if it is requested (or deemed requested) as a Eurodollar Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. Promptly following receipt of the a Borrowing Request in accordance with this Section 2.03 (but in any event on the same day such Borrowing Request is received by the Agent)Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Revolving Loan to be made as part of the requested Revolving Credit Borrowing.

Appears in 2 contracts

Sources: Bridge Credit Agreement (Limited Brands Inc), Term Loan Credit Agreement (Limited Brands Inc)

Requests for Borrowing. (a) In order to To request a Revolving Credit the Borrowing, the Borrower shall notify the Administrative Agent of such request either in writing by telephone or delivery to the Administrative Agent of a Borrowing Request (by hand, facsimile transmission or electronic mail, or facsimile) signed by the Borrower or by telephone (to ; provided that any telephonic notice must be confirmed promptly immediately by hand delivery, delivery to the Administrative Agent of a Borrowing Request by facsimile transmission or electronic mail, or facsimile of written notice) not later than 11:00 a.m., New York City time, . Each such notice must be received (Aa) in the case of a LIBO Rate Eurodollar Borrowing, not later than 1:00 p.m., New York City time, three (3) Business Days before a the date of the proposed Revolving Credit Borrowing or (or such later time on such Business Day as shall be acceptable to the Agent) and (Bb) in the case of an ABR Borrowing, one not later than 1:00 p.m., New York City time, on the date of the proposed Borrowing; provided, however, that if the Borrower wishes to request Eurodollar Loans having an Interest Period other than seven days, one, two, three or six months in duration as provided in the definition of “Interest Period,” the applicable notice must be received by the Administrative Agent not later than 11:00 a.m. four Business Days prior to the requested date of such Borrowing, conversion or continuation, whereupon the Administrative Agent shall give prompt notice to the Lenders of such request and determine whether the requested Interest Period is acceptable to all of them. Not later than 11:00 a.m., three Business Days before the requested date of Borrowing or of such conversion or continuation, the Administrative Agent shall notify the Borrower (1which notice may be by telephone) Business Day before a proposed Revolving Credit whether or not the requested Interest Period has been consented to by all the Lenders. Each such Borrowing (or such later time as Request shall be acceptable to the Agent and each Lender)irrevocable. Each such telephonic and written Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.012.02: (i) the aggregate amount of the requested Revolving Credit Borrowing; (ii) the date of the Revolving Credit Borrowing, which shall be a Business Day; (iii) whether the Revolving Credit Borrowing then being requested is to be an Incremental Revolving Credit Borrowing, and whether such Revolving Credit Borrowing is to be an consist of ABR Borrowing Loans or a LIBO Rate BorrowingEurodollar Loans; (iv) in the case the Borrowing consists of a LIBO Rate BorrowingEurodollar Loans, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”; and (v) the location and number of the Borrower’s account to which funds are to be disbursed; provided, however, that notwithstanding any contrary specification in any Borrowing Request, each requested Revolving Credit Borrowing which shall comply with the requirements set forth in of Section 2.02 and Section 2.04. (b) 2.07. If no election as to the Type of Revolving Credit Borrowing is specified, then the requested Revolving Credit Borrowing shall be an ABR Borrowing. If no Interest Period is specified with respect to any LIBO Rate requested Eurodollar Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. Promptly following receipt of the a Borrowing Request in accordance with this Section 2.03 (but in any event on the same day such Borrowing Request is received by the Agent)Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Revolving Loan to be made as part of the requested Revolving Credit Borrowing.

Appears in 2 contracts

Sources: Term Loan Credit Agreement (Southwestern Energy Co), Term Loan Credit Agreement (Southwestern Energy Co)

Requests for Borrowing. (a) In order to request a Revolving Credit Borrowing, the Borrower shall notify the Agent of such request either in writing by delivery of a Borrowing Request (by hand, electronic mail, or facsimile) signed by the Borrower or by telephone (to be confirmed promptly by hand delivery, electronic mail, or facsimile of written notice) not later than 11:00 a.m., New York City time, (A) in the case of a LIBO Rate Borrowing, three (3) Business Days before a proposed Revolving Credit Borrowing (or such later time on such Business Day as shall be acceptable to the Agent) and (B) in the case of an ABR Borrowing, one (1) Business Day before a proposed Revolving Credit Borrowing (or such later time as shall be acceptable to the Agent and each Lender). Each such telephonic and written Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.01: (i) the aggregate amount of the requested Revolving Credit Borrowing; (ii) the date of the Revolving Credit Borrowing, which shall be a Business Day; (iii) whether the Revolving Credit Borrowing then being requested is to be an Incremental Revolving Credit Borrowing, and whether such Revolving Credit Borrowing is to be an ABR Borrowing or a LIBO Rate Borrowing; (iv) in the case of a LIBO Rate Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”; and (v) the location and number of the Borrower’s 's account to which funds are to be disbursed; provided, however, that notwithstanding any contrary specification in any Borrowing Request, each requested Revolving Credit Borrowing shall comply with the requirements set forth in Section 2.02 and Section 2.04. (b) If no election as to the Type of Revolving Credit Borrowing is specified, then the requested Revolving Credit Borrowing shall be an ABR Borrowing. If no Interest Period is specified with respect to any LIBO Rate Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s 's duration. Promptly following receipt of the Borrowing Request in accordance with this Section 2.03 (but in any event on the same day such Borrowing Request is received by the Agent), the Agent shall advise each Lender of the details thereof and of the amount of such Lender’s 's Revolving Loan to be made as part of the requested Revolving Credit Borrowing.

Appears in 1 contract

Sources: Revolving Credit Agreement (Sunpower Corp)

Requests for Borrowing. (a) In order to To request a Revolving Credit Borrowing, the Borrower shall notify the Administrative Agent of such request either in writing by delivery of a Borrowing Request (by hand, electronic mail, or facsimile) signed by the Borrower or by telephone (to be confirmed promptly by hand delivery, electronic mail, or facsimile of written notice) not later than 11:00 a.m., New York City time, (Aa) in the case of a LIBO Rate Eurocurrency Borrowing, not later than 12:00 p.m., Local Time, three (3) Business Days before a the date of the proposed Revolving Credit Borrowing or (or such later time on such Business Day as shall be acceptable to the Agent) and (Bb) in the case of an ABR Borrowing, not later than 12:00 noon, Local Time, one (1) Business Day before a the date of the proposed Revolving Credit Borrowing (or such later time as shall be acceptable to the Agent and each Lender)Borrowing. Each such Such telephonic and written Borrowing Request shall be irrevocable and shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written Borrowing Request in a form approved by the Administrative Agent and signed by the Borrower. Such telephonic and written Borrowing Request shall specify the following information in compliance with Section 2.012.02: (i) the aggregate amount of the requested Revolving Credit Borrowing; (ii) the date of the Revolving Credit such Borrowing, which shall be a Business Day; (iii) whether the Revolving Credit Borrowing then being requested is to be an Incremental Revolving Credit Borrowing, and whether such Revolving Credit Borrowing is to be an ABR Borrowing or a LIBO Rate Eurocurrency Borrowing; (iv) in the case of a LIBO Rate Eurocurrency Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”; and (v) the location and number of the Borrower’s account to which funds are to be disbursed; provided, however, that notwithstanding any contrary specification in any Borrowing Request, each requested Revolving Credit Borrowing shall comply with the requirements set forth in Section 2.02 and Section 2.04. (b) . If no election as to the Type of Revolving Credit Borrowing is specified, then the requested Revolving Credit Borrowing shall be an ABR Borrowing. If no Interest Period is specified with respect to any LIBO Rate a requested Eurocurrency Borrowing, then the applicable Borrower shall be deemed to have selected an Interest Period of one month’s duration. Promptly following receipt of the a Borrowing Request in accordance with this Section 2.03 (but in any event on the same day such Borrowing Request is received by the Agent)Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Revolving Loan to be made as part of the requested Revolving Credit Borrowing.

Appears in 1 contract

Sources: Second Lien Credit Agreement (Covalence Specialty Adhesives LLC)

Requests for Borrowing. (a) In order to To request a Revolving Credit Borrowing other than a Restatement Date Borrowing, the Borrower shall notify the Administrative Agent of such request either in writing by delivery telephone or email of scanned electronic format of a Borrowing Request (promptly followed by handtelephonic confirmation of such request) (a) in the case of a Eurodollar Borrowing, electronic mail, or facsimile) signed by the Borrower or by telephone (to be confirmed promptly by hand delivery, electronic mail, or facsimile of written notice) not later than 11:00 a.m.3:00 p.m., New York City time, (A) in the case of a LIBO Rate Borrowing, three (3) Business Days before a the date of the proposed Revolving Credit Borrowing or (or such later time on such Business Day as shall be acceptable to the Agent) and (Bb) in the case of an ABR Borrowing, one (1not later than 10:30 a.m., New York City time, on the day of the proposed Borrowing; provided that if at any time an LC Disbursement denominated in dollars shall be made in an amount at least equal to the applicable minimum borrowing amount, a notice of an ABR Borrowing to finance the reimbursement of such LC Disbursement shall be deemed to have been timely given as contemplated by Section 2.03(e) unless the Borrower shall have given notice to the contrary to the Administrative Agent not later than 10:00 a.m., New York City time, on the Business Day before a proposed Revolving Credit Borrowing (or next following the date on which the Borrower shall have been notified of such later time as shall be acceptable to the Agent and each Lender)LC Disbursement. Each such telephonic and written Borrowing Request shall be irrevocable and shall be confirmed promptly by hand delivery, telecopy or email of scanned electronic format to the Administrative Agent of a written Borrowing Request signed by the Borrower. Each Borrowing Request shall specify the following information in compliance with Section 2.01: (i1) the aggregate amount of the requested Revolving Credit Borrowing; (ii2) the date of the Revolving Credit such Borrowing, which shall be a Business Day; (iii3) whether the Revolving Credit Borrowing then being requested is to be an Incremental Revolving Credit Borrowing, and whether such Revolving Credit Borrowing is to be an ABR Borrowing or a LIBO Rate Eurodollar Borrowing; (iv4) in the case of a LIBO Rate Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”; and (v5) the location and number of the Borrower’s account to which funds are to be disbursed; provided, however, that notwithstanding any contrary specification in any Borrowing Request, each requested Revolving Credit Borrowing which shall comply with the requirements set forth in Section 2.02 and of Section 2.04. (b) . If no election as to the Type of Revolving Credit Borrowing is specified, then the requested Revolving Credit Borrowing shall be an ABR Borrowing. If no Interest Period is specified with respect to any LIBO Rate requested Eurodollar Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. Promptly following receipt of the a Borrowing Request in accordance with this Section 2.03 (but in any event on the same day such Borrowing Request is received by the Agent)Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Revolving Loan to be made as part of the requested Revolving Credit Borrowing.

Appears in 1 contract

Sources: First Lien Credit Agreement (Goodyear Tire & Rubber Co /Oh/)

Requests for Borrowing. (a) In order to To request a Revolving Credit Borrowing, the Borrower shall notify the Administrative Agent of such request either in writing by delivery of a Borrowing Request (by hand, electronic mail, or facsimile) signed by the Borrower or by telephone (to be confirmed promptly by hand deliverya) in the case of a Eurodollar Borrowing, electronic mail, or facsimile of written notice) not later than 11:00 a.m., New York City time, (A) in the case of a LIBO Rate Borrowing, three (3) Business Days before a the date of the proposed Revolving Credit Borrowing or (or such later time on such Business Day as shall be acceptable to the Agent) and (Bb) in the case of an ABR Borrowing, one (1) Business Day before a not later than 11:00 a.m., New York City time, on the date of the proposed Revolving Credit Borrowing (or such later time as shall be acceptable to the Agent and each Lender)Borrowing. Each such telephonic and written Borrowing Request shall be irrevocable and shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written Borrowing Request signed by the Borrower. Each such Borrowing Request shall specify the following information in compliance with Section 2.012.02: (i) the aggregate amount of the requested Revolving Credit Borrowing; (ii) the date of the Revolving Credit such Borrowing, which shall be a Business Day; (iii) whether the Revolving Credit Borrowing then being requested is to be an Incremental Revolving Credit Borrowing, and whether such Revolving Credit Borrowing is to be an ABR Borrowing or a LIBO Rate Eurodollar Borrowing; (iv) in the case of a LIBO Rate Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”; and (v) the location and number of the Borrower’s account to which funds are to be disbursed; provided, however, that notwithstanding any contrary specification in any Borrowing Request, each requested Revolving Credit Borrowing which shall comply with the requirements set forth in of Section 2.02 and Section 2.04. (b) 2.07. If no election as to the Type of Revolving Credit Borrowing is specified, then the requested Revolving Credit Borrowing shall be an ABR Borrowing. If no Interest Period is specified with respect to any LIBO Rate requested Eurodollar Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. Promptly following receipt of the a Borrowing Request in accordance with this Section 2.03 (but in any event on the same day such Borrowing Request is received by the Agent)Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Revolving Loan to be made as part of the requested Revolving Credit Borrowing.

Appears in 1 contract

Sources: Credit Agreement (Enterprise GP Holdings L.P.)

Requests for Borrowing. (a) In order to To request a Revolving Credit Borrowing, the Borrower shall notify the Administrative Agent of such request either in writing by delivery of a Borrowing Request (by hand, electronic mail, or facsimile) signed by the Borrower or by telephone (to be confirmed promptly by hand deliverya) in the case of a Eurodollar Borrowing, electronic mail, or facsimile of written notice) not later than 11:00 a.m.12:00 p.m. (Noon), New York City time, (A) in the case of a LIBO Rate Borrowing, three (3) Business Days before a the date of the proposed Revolving Credit Borrowing or (or such later time on such Business Day as shall be acceptable to the Agent) and (Bb) in the case of an ABR Borrowing, one not later than 12:00 p.m. (1) Business Day before a Noon), New York City time, on the date of the proposed Revolving Credit Borrowing (or such later time as shall be acceptable to the Agent and each Lender)Borrowing. Each such telephonic and written Borrowing Request shall be irrevocable and shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written Borrowing Request signed by the Borrower. Each such Borrowing Request shall specify the following information in compliance with Section 2.012.02: (i) the aggregate principal amount of the requested Revolving Credit Borrowing; (ii) the date of the Revolving Credit such Borrowing, which shall be a Business Day; (iii) whether the Revolving Credit Class of such Borrowing then being requested is to be an Incremental Revolving Credit Borrowing, and whether such Revolving Credit Borrowing is to be an ABR Borrowing or a LIBO Rate Eurodollar Borrowing; (iv) in the case of a LIBO Rate Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”; ;” and (v) the location and number of the Borrower’s account to which funds are to be disbursed; provided, however, that notwithstanding any contrary specification in any Borrowing Request, each requested Revolving Credit Borrowing shall comply with the requirements set forth in Section 2.02 and Section 2.04. (b) . If no election as to the Type of Revolving Credit Borrowing is specified, then the requested Revolving Credit Borrowing shall be an ABR Borrowing. If no Interest Period is specified with respect to any LIBO Rate requested Eurodollar Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. Promptly following receipt of the a Borrowing Request in accordance with this Section 2.03 (but in any event on the same day such Borrowing Request is received by the Agent)Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Revolving Loan to be made as part of the requested Revolving Credit Borrowing.

Appears in 1 contract

Sources: Credit Agreement