Common use of Requests for Term Loans Clause in Contracts

Requests for Term Loans. With respect to Term Loans made by the Term Loan Lenders after the Effective Date, not later than 11:00 a.m. Central time at least one (1) Business Day prior to a borrowing of Term 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 Term Loans that are to be LIBOR Loans, the Borrower shall notify the Administrative Agent of such requested borrowing by hand delivery or telecopy of a Notice of Borrowing or by telephone (which, in the case of notification by telephone, shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a Notice of Borrowing). Each such Notice of Borrowing, whether telephonic or written, shall specify the aggregate principal amount of the Term Loans to be borrowed, the date such Term Loans are to be borrowed (which must be a Business Day), the Type of the requested Term Loans, whether such Term Loans shall be Tranche A Term Loans or Tranche B Term Loans, and if such Term Loans are to be LIBOR Loans, the initial Interest Period for such Term Loans. Each Notice of Borrowing, whether telephonic or written, shall be irrevocable once given and binding on the Borrower.

Appears in 2 contracts

Samples: Credit Agreement (Tier Reit Inc), Credit Agreement (Tier Reit Inc)

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Requests for Term Loans. With respect to Term Loans made by the Term Loan Lenders after the Effective Date, not later than 11:00 a.m. Central time at least one (1) Business Day prior to a borrowing of Term 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 Term Loans that are to be LIBOR Loans, the Borrower shall notify the Administrative Agent of such requested borrowing by hand delivery or telecopy of a Notice of Borrowing or by telephone (which, in the case of notification by telephone, shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a Notice of Borrowing). Each such Notice of Borrowing, whether telephonic or written, shall specify the aggregate principal amount of the Term Loans to be borrowed, the date such Term Loans are to be borrowed (which must be a Business Day), the Type of the requested Term Loans, whether such Term Loans shall be Tranche A Term Loans or Tranche B Term Loans, and if such Term Loans are to be LIBOR Loans, the initial Interest Period for such Term Loans. Each Notice of Borrowing, whether telephonic or written, shall be irrevocable once given and binding on the Borrower.

Appears in 1 contract

Samples: Credit Agreement (Tier Reit Inc)

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Requests for Term Loans. With respect to Term Loans made by the Term Loan Lenders after the Effective Date, not Not later than 11:00 a.m. Central time (x) at least one (1) Business Day prior to the Effective Date, in the case of a borrowing of Term Loans that are to be Base Rate Loans and not later than 11:00 a.m. Central time (y) at least three (3) Business Days prior to the Effective Date, in the case of a borrowing of Term LIBOR Loans that are to (or such later time as may be LIBOR Loansagreed by the Administrative Agent), the Borrower shall notify the Administrative Agent of such requested borrowing by hand delivery or telecopy telecopy, electronic mail or other similar form of communication of a Notice of Borrowing or by telephone (which, in the case of notification by telephone, shall be confirmed promptly by hand delivery or telecopy telecopy, electronic mail or other similar form of communication to the Administrative Agent of a Notice of Borrowing). Each such Notice of Borrowing, whether telephonic or written, shall specify the aggregate principal amount of the Term Loans to be borrowed, the date such Term Loans are to be borrowed (which must be a Business Day), the Type of the requested Term Loans, whether such Term Loans shall be Tranche A Term Loans or Tranche B Term Loans, and if such Term Loans are to be LIBOR Loans, the initial Interest Period for such Term Loans. Each Notice of Borrowing, whether telephonic or written, shall be irrevocable once given and binding on the Borrower. Prior to delivering a Notice of Borrowing, the Borrower may (without specifying whether a Term 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.

Appears in 1 contract

Samples: Credit Agreement (VEREIT Operating Partnership, L.P.)

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