Common use of Requests for Loans Clause in Contracts

Requests for Loans. Not later than 12:00 p.m. Central time at least one (1) Business Day prior to a borrowing of Loans that are to be Base Rate Loans and not later than 11:00 a.m. Central time at least three (3) Business Days prior to a borrowing of Loans that are to be LIBOR Loans, the Borrower shall deliver to the Administrative Agent a Notice of Borrowing. Each Notice of Borrowing shall specify the aggregate principal amount of the Loans to be borrowed, the date such Loans are to be borrowed (which must be a Business Day), the use of the proceeds of such Loans, the Type of the requested Loans, and if such Loans are to be LIBOR Loans, the initial Interest Period for such Loans. Each Notice of Borrowing shall be irrevocable once given and binding on the Borrower. Prior to delivering a Notice of Borrowing, the Borrower may (without specifying whether a Loan will be a Base Rate Loan or a LIBOR Loan) request that the Administrative Agent provide the Borrower with the most recent LIBOR available to the Administrative Agent. The Administrative Agent shall provide such quoted rate to the Borrower on the date of such request or as soon as possible thereafter.

Appears in 2 contracts

Sources: Revolving Credit Agreement (Ps Business Parks Inc/Ca), Revolving Credit Agreement (Ps Business Parks Inc/Ca)

Requests for Loans. Not later than 12:00 2:00 p.m. Central time at least one (1) Business Day prior to a borrowing of Loans that are to be Base Rate Loans and not later than 11:00 a.m. Central Eastern time at least three (3) U.S. Government Securities Business Days prior to a borrowing of Loans that are to be LIBOR Loans, the Borrower shall deliver to the Administrative Agent a Notice of Borrowing. Each Notice of Borrowing shall specify the aggregate principal amount of the Loans to be borrowed, the date such Loans are to be borrowed (which must be a U.S. Government Securities Business Day), the use of the proceeds of such Loans, the Type of the requested Loans, and if such Loans are to be LIBOR Term SOFR Loans, the initial Interest Period for such Loans. Each Notice of Borrowing shall be irrevocable once given and binding on the Borrower. Prior to delivering a Notice of Borrowing, the Borrower may (without specifying whether a Loan will be a Base Rate Loan, a Daily Simple SOFR Loan or a LIBOR Term SOFR Loan) request that the Administrative Agent provide the Borrower with the most recent LIBOR Daily Simple SOFR or Term SOFR available to the Administrative Agent. The Administrative Agent shall provide such non-binding quoted rate to the Borrower on the date of such request or as soon as possible thereafter; provided that such quoted rate shall be as of the time of the quote provided and any rate applicable to Loans made hereunder shall be the rate calculated in accordance with the terms hereof.

Appears in 2 contracts

Sources: Term Loan Agreement (Federal Realty OP LP), Term Loan Agreement (Federal Realty OP LP)

Requests for Loans. Not later than 12:00 p.m. Central Eastern time at least one (1) Business Day prior to a borrowing of Loans that are to be Base Rate Loans and not later than 11:00 a.m. Central 12:00 p.m. Eastern time at least three (3) Business Days prior to a borrowing of Loans that are to be LIBOR Loans, the Borrower shall deliver to the Administrative Agent a Notice of Borrowing. Each Notice of Borrowing shall specify the aggregate principal amount of the Loans to be borrowed, the date such Loans are to be borrowed (which must be a Business Day), a general description of the use of the proceeds of such Loans, the Type of the requested Loans, and if such Loans are to be LIBOR Loans, the initial Interest Period for such Loans. Each Notice of Borrowing shall be irrevocable once given and binding on the Borrower. Prior to delivering a Notice of Borrowing, the Borrower may (without specifying whether a Loan will be a Base Rate Loan or a LIBOR Loan) request that the Administrative Agent provide the Borrower with the most recent LIBOR available to the Administrative Agent. The Administrative Agent shall provide such quoted rate to the Borrower on the date of such request or as soon as possible thereafter.

Appears in 1 contract

Sources: Term Loan Agreement (DiamondRock Hospitality Co)

Requests for Loans. Not later than 12:00 p.m. Central 9:00 a.m. Pacific time at least one (1) Business Day prior to a borrowing of Loans that are to be Base Rate Loans and not later than 11:00 9:00 a.m. Central Pacific time at least three (3) Business Days prior to a borrowing of Loans that are to be LIBOR Loans, the Borrower shall deliver to the Administrative Agent a Notice of Borrowing. Each Notice of Borrowing shall specify the aggregate principal amount of the Loans to be borrowed, the date such Loans are to be borrowed (which must be a Business Day), a general description of the use of the proceeds of such Loans, the Type of the requested Loans, and if such Loans are to be LIBOR Loans, the initial Interest Period for such Loans. Each Notice of Borrowing shall be irrevocable once given and binding on the Borrower. Prior to delivering a Notice of Borrowing, the Borrower may (without specifying whether a Loan will be a Base Rate Loan or a LIBOR Loan) request that the Administrative Agent provide the Borrower with the most recent LIBOR available to the Administrative Agent. The Administrative Agent shall provide such quoted rate to the Borrower on the date of such request or as soon as possible thereafter.

Appears in 1 contract

Sources: Credit Agreement (DiamondRock Hospitality Co)

Requests for Loans. Not later than 12:00 p.m. 11:00 a.m. Central time at least one (1) 1 Business Day prior to a borrowing of Loans that are to be Base Rate Loans and not later than 11:00 a.m. Central time at least three (3) 3 U.S. Government Securities Business Days prior to a borrowing of Loans that are to be LIBOR Term SOFR Loans, the Borrower shall deliver to the Administrative Agent a Notice of Borrowing. Each Notice of Borrowing shall specify the aggregate principal amount of the Loans to be borrowed, the date such Loans are to be borrowed (which must be a U.S. Government Securities Business Day), the use of the proceeds of such Loans, the Type of the requested Loans, and if such Loans are to be LIBOR Term SOFR Loans, the initial Interest Period for such Loans. Each Notice of Borrowing shall be irrevocable once given and binding on the Borrower. Prior to delivering a Notice of Borrowing, the Borrower may (without specifying whether a Loan will be a Base Rate Loan or a LIBOR Term SOFR Loan) request that the Administrative Agent provide the Borrower with the most recent LIBOR Term SOFR available to the Administrative Agent. The Administrative Agent shall provide such quoted rate to the Borrower on the date of such request or as soon as possible thereafter.

Appears in 1 contract

Sources: Term Loan Agreement (Sunstone Hotel Investors, Inc.)

Requests for Loans. Not later than 12:00 p.m. Central 10:00 a.m. Eastern time at least one (1) Business Day prior to a borrowing of Loans that are to be Base Rate Loans and not later than 11:00 10:00 a.m. Central Eastern time at least three (3) Business Days prior to a borrowing of Loans that are to be LIBOR Loans, the Borrower shall deliver to the Administrative Agent a Notice of Borrowing. Each Notice of Borrowing shall specify the aggregate principal amount of the Loans to be borrowed, the date such Loans are to be borrowed (which must be a Business Day), the use of the proceeds of such Loans, the Type of the requested Loans, and if such Loans are to be LIBOR Loans, the initial Interest Period for such Loans. Each Notice of Borrowing shall be irrevocable once given and binding on the Borrower. Prior to delivering a Notice of Borrowing, the Borrower may (without specifying whether a Loan will be a Base Rate Loan or a LIBOR Loan) request that the Administrative Agent provide the Borrower with the most recent LIBOR available to the Administrative Agent. The Administrative Agent shall provide such quoted rate to the Borrower on the date of such request or as soon as possible thereafter.

Appears in 1 contract

Sources: Credit Agreement (Select Income Reit)

Requests for Loans. Not later than 12:00 1:00 p.m. Central time at least one (1) Business Day prior to a borrowing of Loans that are to be Base Rate Loans and not later than 11:00 a.m. Central time 1:00 p.m. at least three (3) Business Days prior to a borrowing of Loans that are to be LIBOR Loans, the Borrower shall deliver to the Administrative Agent a Notice of Borrowing. Each Notice of Borrowing shall specify the aggregate principal amount of the Loans to be borrowed, the date such Loans are to be borrowed (which must be a Business Day), the use of the proceeds of such Loans, the Type of the requested Loans, and and, if such Loans are to be LIBOR Loans, the initial Interest Period for such Loans. Each Notice of Borrowing shall be irrevocable once given and binding on the Borrower. Prior to delivering a Notice of Borrowing, the Borrower may (without specifying whether a Loan will be a Base Rate Loan or a LIBOR Loan) request that the Administrative Agent provide the Borrower with the most recent LIBOR available to the Administrative Agent. The Administrative Agent shall provide such quoted rate to the Borrower on the date of such request or as soon as possible thereafter.

Appears in 1 contract

Sources: Term Loan Agreement (RLJ Lodging Trust)

Requests for Loans. Not later than 12:00 p.m. Central time 11:00 a.m. at least one (1) 1 Business Day prior to a borrowing of Loans that are to be Base Rate Loans and not later than 11:00 a.m. Central time at least three (3) 3 Business Days prior to a borrowing of Loans that are to be LIBOR Loans, the Borrower Representative shall deliver to the Administrative Agent a Notice of BorrowingBorrowing together with a current Borrowing Base Certificate. Each Notice of Borrowing shall specify the name of the Borrower requesting such Loans, the aggregate principal amount of the Loans to be borrowed, the date such Loans are to be borrowed (which must be a Business Day), the use of the proceeds of such Loans, the Type of the requested Loans, and if such Loans are to be LIBOR Loans, the initial Interest Period for such Loans. Each Notice of Borrowing shall be irrevocable once given and binding on the BorrowerBorrowers. Prior to delivering a Notice of Borrowing, the Borrower Representative may (without specifying whether a Loan will be a Base Rate Loan or a LIBOR Loan) request that the Administrative Agent provide the Borrower Representative with the most recent LIBOR available to the Administrative Agent. The Administrative Agent shall provide such quoted rate to the Borrower Representative on the date of such request or as soon as possible thereafter. No more than 4 Notices of Borrowings may be submitted on behalf of the Borrowers prior to the Availability Termination Date.

Appears in 1 contract

Sources: Term Loan Agreement (Lexington Realty Trust)