Common use of FORM OF NOTICE OF BORROWING Clause in Contracts

FORM OF NOTICE OF BORROWING. Each Borrowing shall be made on notice given by the Borrower to the Administrative Agent not later than 11:00 A.M. (New York City time) (i) one (1) Business Day, in the case of a Borrowing of Base Rate Loans and (ii) three (3) Business Days, in the case of a Borrowing of Eurodollar Rate Loans, prior to the date of the proposed Borrowing. Each such notice (a "Notice of Borrowing") shall be in substantially the form of Exhibit B, specifying therein (A) the date of such proposed Borrowing, (B) the aggregate amount of such proposed Borrowing, (C) whether any of the proposed Borrowing will be of Base Rate Loans or Eurodollar Rate Loans and (D) the initial Interest Period or Periods for any such Eurodollar Rate Loans. The Revolving Loans shall be made as Base Rate Loans unless (subject to Section 2.15 (Special Provisions Governing Eurodollar Rate Loans)) the Notice of Borrowing specifies that all or a pro rata portion thereof shall be Eurodollar Rate Loans. Each Borrowing shall be in an aggregate amount of a Eurodollar Borrowing Unit or an integral multiple of five million Dollars ($5,000,000) in excess thereof; provided, however, that the aggregate amount of the Eurodollar Rate Loans for each Interest Period must be in an amount of a Eurodollar Borrowing Unit or an integral multiple of five million Dollars ($5,000,000) in excess thereof. The Borrower may not request more than five (5) Borrowings per month without the consent of the Administrative Agent.

Appears in 1 contract

Samples: Security Agreement (National Steel Corp)

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FORM OF NOTICE OF BORROWING. Each Borrowing shall be made on notice given by the Borrower to the Administrative Agent Lender not later than 11:00 A.M. 1:00 P.M. (New York City time) four (i) one (14) Business Day, in the case of a Borrowing of Base Rate Loans and (ii) three (3) Business Days, in the case of a Borrowing of Eurodollar Rate Loans, Days prior to the date of the proposed Borrowing. Each such notice (a "Notice of Borrowing") shall be in substantially the form of Exhibit BB (Form of Notice of Borrowing) (a "Notice of Borrowing"), specifying therein (A) the date of such proposed Borrowing, (B) the aggregate amount of such proposed Borrowing, Borrowing and (C) whether any of the proposed Borrowing will be of Base Rate Loans or Eurodollar Rate Loans and (D) the initial Interest Period or Periods for any such Eurodollar Rate LoansPeriods. The Revolving Loans shall be made as Base Eurodollar Rate Loans unless (subject the Scheduled Termination Date is within one month of the date of the proposed Borrowing, in which case the Borrower shall request the proposed Borrowing to Section 2.15 (Special Provisions Governing Eurodollar Rate Loans)) the Notice be of Borrowing specifies that all or a pro rata portion thereof shall be Eurodollar Base Rate Loans. Each Borrowing of Eurodollar Rate Loans shall be in an aggregate amount of a two Eurodollar Borrowing Unit Units or an integral multiple of five million Dollars ($5,000,000) Eurodollar Borrowing Units in excess thereof; provided, however, that the aggregate amount of the Eurodollar Rate Loans for each Interest Period must be in an amount of a two Eurodollar Borrowing Unit Units or an integral multiple of five million Dollars ($5,000,000) Eurodollar Borrowing Units in excess thereof. The Borrower may not request more than five (5) Borrowings per month without the consent of the Administrative AgentLender.

Appears in 1 contract

Samples: Pledge and Security Agreement (National Steel Corp)

FORM OF NOTICE OF BORROWING. Each Borrowing shall be made on notice given by the Borrower to the Administrative Agent not later than 11:00 A.M. 1:00 P.M. (New York City time) (i) one (1) Business Day, in the case of a Borrowing of Base Rate Loans and (ii) three (3) Business Days, in the case of a Borrowing of Eurodollar Rate Loans, prior to the date of the proposed Borrowing. Each such notice (a "Notice of Borrowing") shall be in substantially the form of Exhibit BB (Form of Notice of Borrowing) (a "Notice of Borrowing"), specifying therein (A) the date of such proposed Borrowing, (B) the aggregate amount of such proposed Borrowing, (C) whether any portion of the proposed Borrowing will be of Base Rate Loans or Eurodollar Rate Loans and Loans, (D) the initial Interest Period or Periods for any such Eurodollar Rate LoansLoans and (E) the Available Credit (after giving effect to the proposed Borrowing). The Revolving Loans shall be made as Base Rate Loans unless (unless, subject to Section 2.15 (Special Provisions Governing Eurodollar Rate Loans)) , the Notice of Borrowing specifies that all or a pro rata portion thereof shall be Eurodollar Rate Loans. Each Borrowing of Eurodollar Rate Loans shall be in an aggregate amount of a two Eurodollar Borrowing Unit Units or an integral multiple of five million Dollars ($5,000,000) Eurodollar Borrowing Units in excess thereof; provided, however, that the aggregate amount of the Eurodollar Rate Loans for each Interest Period must be in an amount of a two Eurodollar Borrowing Unit Units or an integral multiple of five million Dollars ($5,000,000) Eurodollar Borrowing Units in excess thereof. The Borrower may not request more than five (5) Borrowings per month without the consent of the Administrative Agent.

Appears in 1 contract

Samples: Credit Agreement (National Steel Corp)

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FORM OF NOTICE OF BORROWING. Each Borrowing shall be made on notice given by the Borrower to the Administrative Agent not later than 11:00 A.M. 1:00 P.M. (New York City time) (i) one (1) Business Day, in the case of a Borrowing of Base Rate Loans and (ii) three (3) Business Days, in the case of a Borrowing of Eurodollar Rate Loans, prior to the date of the proposed Borrowing. Each such notice (a "Notice of Borrowing") shall be in substantially the form of Exhibit BB (Form of Notice of Borrowing) (a "Notice of Borrowing"), specifying therein (A) the date of such proposed Borrowing, (B) the aggregate amount of such proposed Borrowing, (C) whether any portion of the proposed Borrowing will be of Base Rate Loans or Eurodollar Rate Loans and Loans, (D) the initial Interest Period or Periods for any such Eurodollar Rate LoansLoans and (E) the Available Credit (after giving effect to the proposed Borrowing). The Revolving Loans shall be made as Base Rate Loans unless (unless, subject to Section 2.15 2.14 (Special Provisions Governing Eurodollar Rate Loans)) , the Notice of Borrowing specifies that all or a pro rata portion thereof shall be Eurodollar Rate Loans. Each Borrowing of Eurodollar Rate Loans shall be in an aggregate amount of a two Eurodollar Borrowing Unit Units or an integral multiple of five million Dollars ($5,000,000) Eurodollar Borrowing Units in excess thereof; provided, however, that the aggregate amount of the Eurodollar Rate Loans for each Interest Period must be in an amount of a two Eurodollar Borrowing Unit Units or an integral multiple of five million Dollars ($5,000,000) Eurodollar Borrowing Units in excess thereof. The Borrower may not request more than five (5) Borrowings per month without the consent of the Administrative Agent.

Appears in 1 contract

Samples: Credit Agreement (National Steel Corp)

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