Requests for Borrowing. The U.S. Borrower, on behalf of the Applicable Borrower, shall give the Administrative Agent irrevocable prior written notice substantially in the form of Exhibit B (a “Notice of Borrowing”) not later than 1:00 p.m. (i) on the same Business Day as each Base Rate Loan and each Swingline Loan, (ii) at least three (3) Business Days before each LIBOR Rate Loan denominated in Dollars and (iii) at least four (4) Business Day before each Alternative Currency Revolving Credit Loan, of its intention to borrow, specifying: (A) the date of such borrowing, which shall be a Business Day; (B) whether such Loan is to be a Revolving Credit Loan or a Swingline Loan; (C) if such Loan is an Alternative Currency Revolving Credit Loan, the applicable Alternative Currency in which such Loan is to be funded; (D) if such Loan is a Revolving Credit Loan denominated in Dollars, whether such Revolving Credit Loan shall be a LIBOR Rate Loan or a Base Rate Loan; (E) if such Loan is a LIBOR Rate Loan, the duration of the Interest Period applicable thereto; and (F) the amount of such borrowing, which shall be, (1) with respect to Base Rate Loans (other than Swingline Loans) in an aggregate principal amount of $3,000,000 or a whole multiple of $1,000,000 in excess thereof, (2) with respect to LIBOR Rate Loans in an aggregate principal amount of $5,000,000, €5,000,000, CHF5,000,000, £5,000,000 or CAD$5,000,000 or a whole multiple of $1,000,000, €1,000,000, CHF1,000,000, £1,000,000 or CAD$1,000,000 in excess thereof or (3) with respect to Swingline Loans in an aggregate principal amount of $500,000 or a whole multiple of $100,000 in excess thereof. If the U.S. Borrower fails to specify a currency in the Notice of Borrowing requesting a Loan, then the Loan so requested shall be made in Dollars. A Notice of Borrowing received after 1:00 p.m. shall be deemed received on the next Business Day. The Administrative Agent shall promptly notify the Lenders of each Notice of Borrowing.
Appears in 2 contracts
Sources: Credit Agreement (Owens Corning), Credit Agreement (Owens Corning)
Requests for Borrowing. The U.S. BorrowerTo request a borrowing of a Revolving Credit Loan or a Swingline Loan, on behalf of the Applicable Borrower, Borrower shall give notify the Administrative Agent irrevocable prior written notice substantially in the form of Exhibit B (a “Notice of Borrowing”) such request by telephone not later than 1:00 11:00 a.m. (or, in respect of a Swingline Loan, 2:00 p.m.)
(i) on the same Business Day as each Base Rate Loan and each Swingline Loan, Loan and (ii) at least three (3) Business Days before each LIBOR Rate Loan denominated in Dollars Loan. Each such telephonic Notice of Borrowing shall be irrevocable and (iii) at least four (4) Business Day before each Alternative Currency Revolving Credit Loan, shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of its intention to borrow, specifying:
a written Notice of Borrowing specifying (A) the date of such borrowing, which shall be a Business Day;
, (B) whether such Loan is to be a Revolving Credit Loan or a Swingline Loan;
(C) if such Loan is an Alternative Currency Revolving Credit Loan, the applicable Alternative Currency in which such Loan is to be funded;
(D) if such Loan is a Revolving Credit Loan denominated in Dollars, whether such Revolving Credit Loan shall be a LIBOR Rate Loan or a Base Rate Loan;
(E) if such Loan is a LIBOR Rate Loan, the duration of the Interest Period applicable thereto; and
(F) the principal amount of such borrowing, which shall be, (1x) with respect to Base Rate Loans (other than Swingline Loans) in an aggregate principal amount of $3,000,000 or a whole multiple of $1,000,000 in excess thereof, (2y) with respect to LIBOR Rate Loans in an aggregate principal amount of $5,000,000, €5,000,000, CHF5,000,000, £5,000,000 or CAD$5,000,000 or a whole multiple of $1,000,000, €1,000,000, CHF1,000,000, £1,000,000 or CAD$1,000,000 in excess thereof or and (3z) with respect to Swingline Loans in an aggregate principal amount of $500,000 or a whole multiple of $100,000 in excess thereof. If the U.S. Borrower fails , (C) whether such Loan is to specify be a currency Revolving Credit Loan or Swingline Loan, (D) in the case of a Revolving Credit Loan, whether the Loans are to be LIBOR Rate Loans or Base Rate Loans, and (E) in the case of a LIBOR Rate Loan, the duration of the Interest Period applicable thereto. Promptly following receipt of a telephonic or written Notice of Borrowing requesting a Loanin accordance with this Section, then the Loan so requested shall be made in Dollars. A Notice of Borrowing received after 1:00 p.m. shall be deemed received on the next Business Day. The Administrative Agent shall promptly notify the Revolving Credit Lenders of each the details of such Notice of Borrowing.
Appears in 2 contracts
Sources: Credit Agreement (CST Brands, Inc.), Credit Agreement (CST Brands, Inc.)
Requests for Borrowing. The U.S. Borrower, on behalf of the Applicable Borrower, Borrower shall give the Administrative Agent irrevocable prior written notice substantially in the form of Exhibit B (a “Notice of Borrowing”) not later than 1:00 p.m.
noon (i) on the same Business Day as each Base Rate Loan and each Swingline Loan, (ii) at least one (1) Business Day before each Base Rate Loan (other than a Swingline Loan), and (iii) at least three (3) Business Days before each LIBOR Rate Loan denominated in Dollars and (iii) at least four (4) Business Day before each Alternative Currency Revolving Credit Loan, of its intention to borrow, specifying:
specifying (A) the date of such borrowing, which shall be a Business Day;
, (B) whether such Loan is to be a Revolving Credit Loan or a Swingline Loan;
(C) if such Loan is an Alternative Currency Revolving Credit Loan, the applicable Alternative Currency in which such Loan is to be funded;
(D) if such Loan is a Revolving Credit Loan denominated in Dollars, whether such Revolving Credit Loan shall be a LIBOR Rate Loan or a Base Rate Loan;
(E) if such Loan is a LIBOR Rate Loan, the duration of the Interest Period applicable thereto; and
(F) the amount of such borrowing, which shall be, (1x) with respect to Base Rate Loans (other than Swingline Loans) ), must be in an aggregate principal amount of $3,000,000 500,000 or a whole multiple of $1,000,000 100,000 in excess thereofthereof (provided, that any Base Rate Loan may be in an amount that is equal to the entire unused balance of the total Commitments or that is required to finance the amount of the reimbursement of a drawing under a Letter of Credit as contemplated by Section 3.5), (2y) with respect to LIBOR Rate Loans in an aggregate principal amount of $5,000,000Loans, €5,000,000, CHF5,000,000, £5,000,000 or CAD$5,000,000 or a whole multiple of $1,000,000, €1,000,000, CHF1,000,000, £1,000,000 or CAD$1,000,000 in excess thereof or (3) with respect to Swingline Loans must be in an aggregate principal amount of $500,000 or a whole multiple of $100,000 in excess thereof. If the U.S. Borrower fails , and (z) with respect to specify Swingline Loans, may be in any amount, (C) whether such Loan is to be a currency Revolving Credit Loan or Swingline Loan, (D) in the Notice case of Borrowing requesting a Revolving Credit Loan whether the Loans are to be LIBOR Rate Loans or Base Rate Loans, and (E) in the case of a LIBOR Rate Loan, then the Loan so requested shall be made in Dollarsduration of the Interest Period applicable thereto. A Notice of Borrowing received after 1:00 p.m. noon shall be deemed received on the next Business Day. The Administrative Agent shall promptly notify the Revolving Credit Lenders of each Notice of Borrowing.
Appears in 2 contracts
Sources: Credit Agreement (Supreme Industries Inc), Credit Agreement (Supreme Industries Inc)
Requests for Borrowing. The U.S. Borrower, on behalf of the Applicable Borrower, Borrower shall give the Administrative Agent irrevocable prior notice (1) written notice substantially in the form of Exhibit B or (2) delivered electronically via e-mail from the official corporate email address of Borrower which includes an approval from the Chief Financial Officer, Senior Vice President - Finance & Accounting, Controller, Treasurer, Assistant Treasurer, Director of Treasury or Senior Manager - Treasury Operations of Borrower and containing substantially the same information as specified on Exhibit B (a “Notice of Borrowing”) not later than 1:00 p.m.
(i) on the same Business Day as each Base Rate Loan and each Swingline Loan, Loan and (ii) at least three (3) U.S. Government Securities Business Days before each LIBOR Rate Loan denominated in Dollars and (iii) at least four (4) Business Day before each Alternative Currency Revolving Credit SOFR Loan, of its intention to borrow, specifying:
specifying (A) the date of such borrowing, which shall be a Business Day;
, (B) whether such Loan is to be a Revolving Credit Loan or a Swingline Loan;
(C) if such Loan is an Alternative Currency Revolving Credit Loan, the applicable Alternative Currency in which such Loan is to be funded;
(D) if such Loan is a Revolving Credit Loan denominated in Dollars, whether such Revolving Credit Loan shall be a LIBOR Rate Loan or a Base Rate Loan;
(E) if such Loan is a LIBOR Rate Loan, the duration of the Interest Period applicable thereto; and
(F) the amount of such borrowing, which shall be, (1x) with respect to Base Rate Loans (other than Swingline Loans) in an aggregate principal amount of $3,000,000 1,000,000 or a whole multiple of $1,000,000 100,000 in excess thereof, (2y) with respect to LIBOR Rate SOFR Loans in an aggregate principal amount of $5,000,000, €5,000,000, CHF5,000,000, £5,000,000 or CAD$5,000,000 1,000,000 or a whole multiple of $1,000,000, €1,000,000, CHF1,000,000, £1,000,000 or CAD$1,000,000 250,000 in excess thereof or and (3z) with respect to Swingline Loans in an aggregate principal amount of $500,000 100,000 or a whole multiple of $100,000 50,000 in excess thereof, (C) whether such Loan is to be a Revolving Credit Loan or Swingline Loan, (D) in the case of a Revolving Credit Loan whether the Loans are to be SOFR Loans or Base Rate Loans, and (E) in the case of a SOFR Loan, the duration of the Interest Period applicable thereto. If the U.S. Borrower fails to specify a currency type of Loan in the a Notice of Borrowing requesting a LoanBorrowing, then the Loan so requested applicable Loans shall be made as Base Rate Loans. If Borrower requests a Borrowing of SOFR Loans in Dollarsany such Notice of Borrowing, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one month. A Notice of Borrowing received after 1:00 p.m. shall be deemed received on the next Business Day or U.S. Government Securities Business Day, as applicable. The Administrative Agent shall promptly notify the Lenders of each Notice of Borrowing.
Appears in 1 contract
Sources: Credit Agreement (Kforce Inc)
Requests for Borrowing. The U.S. Borrower, on behalf of the Applicable Borrower, Borrower shall give the Administrative Agent irrevocable prior notice (1) written notice substantially in the form of Exhibit B or (2) delivered electronically via e-mail from the official corporate email address of Borrower which includes an approval from the Chief Financial Officer, Senior Vice President - Finance & Accounting, Controller, Treasurer, Assistant Treasurer, Director of Treasury or Senior Manager - Treasury Operations of Borrower and containing substantially the same information as specified on Exhibit B (a “Notice of Borrowing”) not later than 1:00 p.m.
(i) on the same Business Day as each Base Rate Loan and each Swingline Loan, Loan and (ii) at least three (3) U.S. Government Securities Business Days before each LIBOR Rate SOFR Loan denominated in Dollars and (iiior one (1) at least four (4) U.S. Government Securities Business Day before each Alternative Currency Revolving Credit Loanwith respect to any Loans made on the Closing Date), of its intention to borrow, specifying:
specifying (A) the date of such borrowing, which shall be a Business Day;
, (B) whether such Loan is to be a Revolving Credit Loan or a Swingline Loan;
(C) if such Loan is an Alternative Currency Revolving Credit Loan, the applicable Alternative Currency in which such Loan is to be funded;
(D) if such Loan is a Revolving Credit Loan denominated in Dollars, whether such Revolving Credit Loan shall be a LIBOR Rate Loan or a Base Rate Loan;
(E) if such Loan is a LIBOR Rate Loan, the duration of the Interest Period applicable thereto; and
(F) the amount of such borrowing, which shall be, (1x) with respect to Base Rate Loans (other than Swingline Loans) in an aggregate principal amount of $3,000,000 1,000,000 or a whole multiple of $1,000,000 100,000 in excess thereof, (2y) with respect to LIBOR Rate SOFR Loans in an aggregate principal amount of $5,000,000, €5,000,000, CHF5,000,000, £5,000,000 or CAD$5,000,000 1,000,000 or a whole multiple of $1,000,000, €1,000,000, CHF1,000,000, £1,000,000 or CAD$1,000,000 250,000 in excess thereof or and (3z) with respect to Swingline Loans in an aggregate principal amount of $500,000 100,000 or a whole multiple of $100,000 50,000 in excess thereof, (C) whether such Loan is to be a Revolving Credit Loan or Swingline Loan (or, in each case, the remaining amount of the Commitment or the Swingline Commitment, as applicable), (D) in the case of a Revolving Credit Loan whether the Loans are to be SOFR Loans or Base Rate Loans, and (E) in the case of a SOFR Loan, the duration of the Interest Period applicable thereto. If the U.S. Borrower fails to specify a currency type of Loan in the a Notice of Borrowing requesting a LoanBorrowing, then the Loan so requested applicable Loans shall be made as Base Rate Loans. If Borrower requests a borrowing of SOFR Loans in Dollarsany such Notice of Borrowing, but fails 210663207 to specify an Interest Period, it will be deemed to have specified an Interest Period of one month. A Notice of Borrowing received after 1:00 p.m. shall be deemed received on the next Business Day or U.S. Government Securities Business Day, as applicable. The Administrative Agent shall promptly notify the Lenders of each Notice of Borrowing.
Appears in 1 contract
Sources: Credit Agreement (Kforce Inc)
Requests for Borrowing. The U.S. Borrower, on behalf of the Applicable Borrower, Parent Borrower shall give the Administrative Agent irrevocable prior notice, which may be given by (I) telephone or (II) written notice substantially in the form of Exhibit B (a “Notice of Borrowing”); provided that any telephone notice must be confirmed immediately by delivery to the Administrative Agent of a Notice of Borrowing (or Swingline Loan Notice, as applicable). Each such Notice of Borrowing (or Swingline Loan Notice, as applicable) must be received by the Administrative Agent not later than 1:00 p.m.11:00 a.m.
(i) on the same Business Day as each Base Rate Loan and each Swingline Loan, Loan and (ii) at least three (3) Business Days before each LIBOR Rate Loan denominated in Dollars and (iii) at least four (4) Business Day before each Alternative Currency Revolving Credit Loan, of its intention to borrow, specifying:
specifying (A) the date of such borrowing, which shall be a Business Day;
, (B) whether such Loan is to be a Revolving Credit Loan or a Swingline Loan;
(C) if such Loan is an Alternative Currency Revolving Credit Loan, the applicable Alternative Currency in which such Loan is to be funded;
(D) if such Loan is a Revolving Credit Loan denominated in Dollars, whether such Revolving Credit Loan shall be a LIBOR Rate Loan or a Base Rate Loan;
(E) if such Loan is a LIBOR Rate Loan, the duration of the Interest Period applicable thereto; and
(F) the amount of such borrowing, which shall be, (1x) with respect to Base Rate Loans (other than Swingline Loans) in an aggregate principal amount of $3,000,000 or a whole multiple of $1,000,000 in excess thereof, (2y) with respect to LIBOR Rate Loans in an aggregate principal amount of $5,000,000, €5,000,000, CHF5,000,000, £5,000,000 or CAD$5,000,000 or a whole multiple of $1,000,000, €1,000,000, CHF1,000,000, £1,000,000 or CAD$1,000,000 in excess thereof or and (3z) with respect to Swingline Loans in an aggregate principal amount of $500,000 or a whole multiple of $100,000 in excess thereof. If the U.S. Borrower fails , (C) whether such Loan is to specify be a currency Revolving Credit Loan or Swingline Loan, (D) in the Notice case of Borrowing requesting a Revolving Credit Loan whether the Loans are to be LIBOR Rate Loans or Base Rate Loans, and (E) in the case of a LIBOR Rate Loan, then the Loan so requested shall be made in Dollarsduration of the Interest Period applicable thereto. A Notice of Borrowing (or Swingline Loan Notice, as applicable) received after 1:00 p.m. 11:00 a.m. shall be deemed received on the next Business Day. The Administrative Agent shall promptly notify the Revolving Credit Lenders of each Notice of BorrowingBorrowing (by telephone or in writing).
Appears in 1 contract
Requests for Borrowing. The U.S. Borrower, on behalf of the Applicable Borrower, Borrower shall give the Administrative Agent irrevocable prior written notice (it being understood and agreed that such notice may state that the Borrowing is conditioned upon the effectiveness of other credit facilities, acquisitions, dispositions or other transactions, in which case, such notice may be revoked or modified by Borrower (by notice to Administrative Agent on or prior to the specified borrowing date) if such condition is not satisfied) substantially in the form of Exhibit B (a “Notice of Borrowing”) not later than 1:00 12:00 p.m.
(i) on the same Business Day as each Base Rate Loan and each Swingline Loan, and (ii) at least three (3) RFR Business Days before each LIBOR Rate Loan denominated in Dollars and (iii) at least four (4) Business Day before each Alternative Currency Revolving Credit Term SOFR Loan, of its intention to borrow, specifying:
specifying (A) the date of such borrowing, which shall be a Business Day;
, (B) whether such Loan is to be a Revolving Credit Loan or a Swingline Loan;
(C) if such Loan is an Alternative Currency Revolving Credit Loan, the applicable Alternative Currency in which such Loan is to be funded;
(D) if such Loan is a Revolving Credit Loan denominated in Dollars, whether such Revolving Credit Loan shall be a LIBOR Rate Loan or a Base Rate Loan;
(E) if such Loan is a LIBOR Rate Loan, the duration of the Interest Period applicable thereto; and
(F) the 62 amount of such borrowing, which shall be, (1x) with respect to Base Rate Loans (other than Swingline Loans) in an aggregate principal amount of $3,000,000 or a whole multiple of $1,000,000 in excess thereof, (2y) with respect to LIBOR Rate Term SOFR Loans in an aggregate principal amount of $5,000,000, €5,000,000, CHF5,000,000, £5,000,000 or CAD$5,000,000 or a whole multiple of $1,000,000, €1,000,000, CHF1,000,000, £1,000,000 or CAD$1,000,000 in excess thereof or and (3z) with respect to Swingline Loans in an aggregate principal amount of $500,000 or a whole multiple of $100,000 in excess thereof, (C) whether such Loan is to be a Revolving Credit Loan or Swingline Loan, (D) in the case of a Revolving Credit Loan whether the Loans are to be Term SOFR Loans or Base Rate Loans, and (E) in the case of a Term SOFR Loan, the duration of the Interest Period applicable thereto. If the U.S. Borrower fails to specify a currency type of Loan in the a Notice of Borrowing requesting a LoanBorrowing, then the Loan so requested applicable Loans shall be made as Base Rate Loans. If the Borrower requests a Borrowing of Term SOFR Loans in Dollarsany such Notice of Borrowing, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one month. A Notice of Borrowing received after 1:00 12:00 p.m. shall be deemed received on the next Business Day or RFR Business Day, as applicable. The Administrative Agent shall promptly notify the Revolving Credit Lenders of each Notice of Borrowing.
Appears in 1 contract
Sources: Fourth Amendment and Lender Joinder Agreement (SYNAPTICS Inc)
Requests for Borrowing. The U.S. Borrower, on behalf of the Applicable Borrower, Parent Borrower shall give the Administrative Agent irrevocable prior notice, which may be given by (I) telephone or (II) written notice substantially in the form of Exhibit B A-5 (a “Notice of Borrowing”); provided that any telephone notice must be confirmed immediately by delivery to the Administrative Agent of a Notice of Borrowing (or Swingline Loan Notice, as applicable). Each such Notice of Borrowing (or Swingline Loan Notice, as applicable) must be received by the Administrative Agent not later than 1:00 p.m.11:00 a.m.
(i) on the same Business Day as each Base Rate Loan and each Swingline Loan, Loan and (ii) at least three two (32) Business Days before each LIBOR Rate Loan denominated in Dollars and (iii) at least four (4) Business Day before each Alternative Currency Revolving Credit Term SOFR Loan, of its intention to borrow, specifying:
specifying (A) the date of such borrowing, which shall be a Business Day;
, (B) whether such Loan is to be a Revolving Credit Loan or a Swingline Loan;
(C) if such Loan is an Alternative Currency Revolving Credit Loan, the applicable Alternative Currency in which such Loan is to be funded;
(D) if such Loan is a Revolving Credit Loan denominated in Dollars, whether such Revolving Credit Loan shall be a LIBOR Rate Loan or a Base Rate Loan;
(E) if such Loan is a LIBOR Rate Loan, the duration of the Interest Period applicable thereto; and
(F) the amount of such borrowing, which shall be, (1x) with respect to Base Rate Loans (other than Swingline Loans) in an aggregate principal amount of $3,000,000 or a whole multiple of $1,000,000 in excess thereof, (2y) with respect to LIBOR Rate Term SOFR Loans in an aggregate principal amount of $5,000,000, €5,000,000, CHF5,000,000, £5,000,000 or CAD$5,000,000 or a whole multiple of $1,000,000, €1,000,000, CHF1,000,000, £1,000,000 or CAD$1,000,000 in excess thereof or and (3z) with respect to Swingline Loans in an aggregate principal amount of $500,000 or a whole multiple of $100,000 in excess thereof. If the U.S. Borrower fails , (C) whether such Loan is to specify be a currency Revolving Credit Loan or Swingline Loan, (D) in the Notice case of Borrowing requesting a Revolving Credit Loan whether the Loans are to be Term SOFR Loans or Base Rate Loans, and (E) in the case of a Term SOFR Loan, then the Loan so requested shall be made in Dollarsduration of the Interest Period applicable thereto. A Notice of Borrowing (or Swingline Loan Notice, as applicable) received after 1:00 p.m. 11:00 a.m. shall be deemed received on the next Business Day. The Administrative Agent shall promptly notify the Revolving Credit Lenders of each Notice of BorrowingBorrowing (by telephone or in writing).
Appears in 1 contract
Requests for Borrowing. The U.S. Borrower, on behalf of the Applicable Borrower, Borrower shall give the Administrative Agent irrevocable prior notice (1) written notice substantially in the form of Exhibit B or (2) delivered electronically via e-mail from the official corporate email address of Borrower which includes an approval from the Chief Financial Officer, Senior Vice President - Finance & Accounting, Controller, Treasurer, Assistant Treasurer, Director of Treasury or Senior Manager - Treasury Operations of Borrower and containing substantially the same information as specified on Exhibit B (a “Notice of Borrowing”) not later than 1:00 p.m.
(i) on the same Business Day as each Base Rate Loan and each Swingline Loan, Loan and (ii) at least three (3) Business Days before each LIBOR Rate Loan denominated in Dollars and (iii) at least four (4) Business Day before each Alternative Currency Revolving Credit Loan, of its intention to borrow, specifying:
specifying (A) the date of such borrowing, which shall be a Business Day;
, (B) whether such Loan is to be a Revolving Credit Loan or a Swingline Loan;
(C) if such Loan is an Alternative Currency Revolving Credit Loan, the applicable Alternative Currency in which such Loan is to be funded;
(D) if such Loan is a Revolving Credit Loan denominated in Dollars, whether such Revolving Credit Loan shall be a LIBOR Rate Loan or a Base Rate Loan;
(E) if such Loan is a LIBOR Rate Loan, the duration of the Interest Period applicable thereto; and
(F) the amount of such borrowing, which shall be, (1x) with respect to Base Rate Loans (other than Swingline Loans) in an aggregate principal amount of $3,000,000 1,000,000 or a whole multiple of $1,000,000 100,000 in excess thereof, (2y) with respect to LIBOR Rate Loans in an aggregate principal amount of $5,000,000, €5,000,000, CHF5,000,000, £5,000,000 or CAD$5,000,000 1,000,000 or a whole multiple of $1,000,000, €1,000,000, CHF1,000,000, £1,000,000 or CAD$1,000,000 250,000 in excess thereof or and (3z) with respect to Swingline Loans in an aggregate principal amount of $500,000 100,000 or a whole multiple of $100,000 50,000 in excess thereof, (C) whether such Loan is to be a Revolving Credit Loan or Swingline Loan, (D) in the case of a Revolving Credit Loan whether the Loans are to be LIBOR Rate Loans or Base Rate Loans, and (E) in the case of a LIBOR Rate Loan, the duration of the Interest Period applicable thereto; provided that if Borrower wishes to request LIBOR Rate Loans having an Interest Period of twelve months in duration, such notice must be received by the Administrative Agent not later than 1:00 p.m. four (4) Business Days prior to the requested date of such borrowing, 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. If the U.S. Borrower fails to specify a currency type of Loan in the a Notice of Borrowing requesting a LoanBorrowing, then the Loan so requested applicable Loans shall be made as Base Rate Loans. If Borrower requests a Borrowing of LIBOR Rate Loans in Dollarsany such Notice of Borrowing, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one month. A Notice of Borrowing received after 1:00 p.m. shall be deemed received on the next Business Day. The Administrative Agent shall promptly notify the Lenders of each Notice of Borrowing.
Appears in 1 contract
Sources: Credit Agreement (Kforce Inc)
Requests for Borrowing. The U.S. Borrower, on behalf of the Applicable Borrower, Parent Borrower shall give the Administrative Agent irrevocable prior notice, which may be given by (I) telephone or (II) written notice substantially in the form of Exhibit B A-5 (a “Notice of Borrowing”); provided that any telephone notice must be confirmed immediately by delivery to the Administrative Agent of a Notice of Borrowing (or Swingline Loan Notice, as applicable). Each such Notice of Borrowing (or Swingline Loan Notice, as applicable) must be received by the Administrative Agent not later than 1:00 p.m.11:00 a.m.
(i) on the same Business Day as each Base Rate Loan and each Swingline Loan, Loan and (ii) at least three (3) Business Days before each LIBOR Rate Loan denominated in Dollars and (iii) at least four (4) Business Day before each Alternative Currency Revolving Credit Loan, of its intention to borrow, specifying:
specifying (A) the date of such borrowing, which shall be a Business Day;
, (B) whether such Loan is to be a Revolving Credit Loan or a Swingline Loan;
(C) if such Loan is an Alternative Currency Revolving Credit Loan, the applicable Alternative Currency in which such Loan is to be funded;
(D) if such Loan is a Revolving Credit Loan denominated in Dollars, whether such Revolving Credit Loan shall be a LIBOR Rate Loan or a Base Rate Loan;
(E) if such Loan is a LIBOR Rate Loan, the duration of the Interest Period applicable thereto; and
(F) the amount of such borrowing, which shall be, (1x) with respect to Base Rate Loans (other than Swingline Loans) in an aggregate principal amount of $3,000,000 or a whole multiple of $1,000,000 in excess thereof, (2y) with respect to LIBOR Rate Loans in an aggregate principal amount of $5,000,000, €5,000,000, CHF5,000,000, £5,000,000 or CAD$5,000,000 or a whole multiple of $1,000,000, €1,000,000, CHF1,000,000, £1,000,000 or CAD$1,000,000 in excess thereof or and (3z) with respect to Swingline Loans in an aggregate principal amount of $500,000 or a whole multiple of $100,000 in excess thereof. If the U.S. Borrower fails , (C) whether such Loan is to specify be a currency Revolving Credit Loan or Swingline Loan, (D) in the Notice case of Borrowing requesting a Revolving Credit Loan whether the Loans are to be LIBOR Rate Loans or Base Rate Loans, and (E) in the case of a LIBOR Rate Loan, then the Loan so requested shall be made in Dollarsduration of the Interest Period applicable thereto. A Notice of Borrowing (or Swingline Loan Notice, as applicable) received after 1:00 p.m. 11:00 a.m. shall be deemed received on the next Business Day. The Administrative Agent shall promptly notify the Revolving Credit Lenders of each Notice of BorrowingBorrowing (by telephone or in writing).
Appears in 1 contract
Requests for Borrowing. The U.S. Borrower, on behalf of the Applicable Borrower, Borrower shall give the Administrative Agent irrevocable prior written notice substantially in the form of Exhibit B (a “Notice of Borrowing”) not later than 1:00 p.m.11:00 a.m.
(i) on the same Business Day as each Base Rate Loan and each Swingline Loan, (ii) at least three (3) Business Days before each LIBOR Rate Loan denominated in Dollars and (iii) at least four (4) Business Day Days before each Alternative Currency Revolving Credit Loan, of its intention to borrow, specifying:
: (A) the date of such borrowing, which shall be a Business Day;
, (B) whether such Loan is to be a Revolving Credit Loan or a Swingline Loan;
; (C) if such Loan is an Alternative Currency Revolving Credit Loan, the applicable Alternative Currency in which such Loan is to be funded;
; (D) if such Loan is a Revolving Credit Loan denominated in Dollars, whether such Revolving Credit Loan shall be a LIBOR Rate Loan or a Base Rate Loan;
; (E) if such Loan is a LIBOR Rate Loan, the duration of the Interest Period applicable thereto; and
and (F) the amount of such borrowing, which shall be, (1) with respect to Base Rate Loans (other than Swingline Loans) in an aggregate principal amount of $3,000,000 500,000 or a whole multiple of $1,000,000 50,000 in excess thereof (or, if such borrowing is denominated in an Alternative Currency, in an aggregate principal amount equal to the Equivalent Amount of $500,000 or a whole multiple of $50,000 in excess thereof), (2) with respect to LIBOR Rate Loans in an aggregate principal amount of $5,000,0001,000,000, €5,000,000, CHF5,000,000, £5,000,000 or CAD$5,000,000 or a whole multiple of $1,000,000100,000, €1,000,000, CHF1,000,000, £1,000,000 or CAD$1,000,000 in excess thereof (or, if such borrowing is denominated in an Alternative Currency, in an aggregate principal amount equal to the Equivalent Amount of $1,000,000 or a whole multiple of $100,000 in excess thereof) or (3) with respect to Swingline Loans in an aggregate principal amount of $500,000 100,000 or a whole multiple of $100,000 50,000 in excess thereof. If the U.S. Borrower fails to specify a currency in the a Notice of Borrowing requesting a LoanBorrowing, then the Loan so requested shall be made in Dollars. A Notice of Borrowing received after 1:00 p.m. 11:00 a.m. shall be deemed received on the next Business Day. The Administrative Agent shall promptly notify the Revolving Credit Lenders of each Notice of Borrowing.
Appears in 1 contract
Sources: Credit Agreement (KMG Chemicals Inc)