Common use of Funds for Revolving Credit Loans Clause in Contracts

Funds for Revolving Credit Loans. (a) Subject to the other provisions of this §2, not later than 11:00 a.m. (Cleveland, Ohio time) on the proposed Drawdown Date of any Revolving Credit Loan, each of the Lenders will make available to the Agent, at the Agent’s Head Office, in immediately available funds, the amount of such Lender’s Commitment Percentage of the amount of the requested Revolving Credit Loan. Upon receipt from each Lender of such amount, the Agent will make available to the Borrower the aggregate amount of such Revolving Credit Loan made available to the Agent by the Lenders. All such funds received by the Agent by 11:00 a.m. (Cleveland, Ohio time) on any Business Day will be made available to the Borrower not later than 2:00 p.m. on the same Business Day; funds received after such time will be made available by not later than 11:00 a.m. on the next Business Day. The failure or refusal of any Lender to make available to the Agent at the aforesaid time and place on any Drawdown Date the amount of its Commitment Percentage of the requested Revolving Credit Loan shall not relieve any other Lender from its several obligation hereunder to make available to the Agent the amount of its Commitment Percentage of any requested Revolving Credit Loan but in no event shall the Agent (in its capacity as Agent) have any obligation to make any funding or shall any Lender be obligated to fund more than its Commitment Percentage of the requested Revolving Credit Loan or to increase its Commitment Percentage on account of such failure or otherwise.

Appears in 3 contracts

Samples: Revolving Credit Agreement (First Potomac Realty Trust), Revolving Credit Agreement (First Potomac Realty Trust), Revolving Credit Agreement (First Potomac Realty Trust)

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Funds for Revolving Credit Loans. (a) Subject to the other provisions of this §2, not later than 11:00 a.m. (Cleveland, Ohio Boston time) on the proposed Drawdown Date of any Revolving Credit Loan, each of the Lenders will make available to the Agent, at the Agent’s Head Office, in immediately available funds, the amount of such Lender’s Commitment Percentage of the amount of the requested Revolving Credit Loan. Upon receipt from each Lender of such amount, the Agent will make available to the Borrower the aggregate amount of such Revolving Credit Loan made available to the Agent by the Lenders. All such funds received by the Agent by 11:00 a.m. (Cleveland, Ohio Boston time) on any Business Day will be made available to the Borrower not later than 2:00 p.m. on the same Business Day; funds received after such time will be made available by not later than 11:00 a.m. on the next Business Day. The failure or refusal of any Lender to make available to the Agent at the aforesaid time and place on any Drawdown Date the amount of its Commitment Percentage of the requested Revolving Credit Loan shall not relieve any other Lender from its several obligation hereunder to make available to the Agent the amount of its Commitment Percentage of any requested Revolving Credit Loan but in no event shall the Agent (in its capacity as Agent) have any obligation to make any funding or shall any Lender be obligated to fund more than its Commitment Percentage of the requested Revolving Credit Loan or to increase its Commitment Percentage on account of such failure or otherwise.

Appears in 2 contracts

Samples: Revolving Credit Agreement (First Potomac Realty Trust), Revolving Credit Agreement (First Potomac Realty Trust)

Funds for Revolving Credit Loans. (a) Subject to the other provisions of this §2, not later than 11:00 a.m. (Cleveland, Ohio Boston time) on the proposed Drawdown Date of any Revolving Credit Loan, each of the Lenders Banks will make available to the Agent, at the Agent’s Head Funding Office, in immediately available funds, the amount of such LenderBank’s Commitment Percentage of the amount of the requested Revolving Credit Loan. Upon receipt from each Lender Bank of such amount, the Agent will make available to the Borrower the aggregate amount of such Revolving Credit Loan made available to the Agent by the LendersBanks. All such funds received by the Agent by 11:00 a.m. (Cleveland, Ohio timeBoston Time) on any Business Day will be made available to the Borrower not later than 2:00 p.m. on the same Business Day; funds received after such time will be made available by not later than 11:00 a.m. on the next Business DayDay (provided that as to any Bank which is required to fund Revolving Credit Loans from its head office located in the Pacific Time Zone (U.S.), the preceding reference to ‘11:00 a.m.’ shall be deemed to be a reference to ‘1:00 p.m.’). The failure or refusal of any Lender Bank to make available to the Agent at the aforesaid time and place on any Drawdown Date the amount of its Commitment Percentage of the requested Revolving Credit Loan shall not relieve any other Lender Bank from its several obligation hereunder to make available to the Agent the amount of its Commitment Percentage of any requested Revolving Credit Loan but in no event shall the Agent (in its capacity as Agent) have any obligation to make any funding or shall any Lender Bank be obligated to fund more than its Commitment Percentage of the requested Revolving Credit Loan or to increase its Commitment Percentage on account of such failure or otherwise.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Boston Properties Inc), Revolving Credit Agreement (Boston Properties Inc)

Funds for Revolving Credit Loans. (a) Subject to the other provisions of this §2, not later than 11:00 a.m. (Cleveland, Ohio time) on the proposed Drawdown Date of any Revolving Credit LoanLoans, each of the Lenders Banks will make available to the Agent, at the Agent’s its Head Office, in immediately available funds, the amount of such Lender’s Bank's Commitment Percentage of the amount of the requested Revolving Credit Loan. Upon receipt from each Lender Bank of such amount, the Agent will make available to the Borrower the aggregate amount of such Revolving Credit Loan made available to the Agent by the Lenders. All Banks; all such funds received by the Agent by 11:00 a.m. (Cleveland, Ohio time) on any Business Day will be made available to the Borrower not later than 2:00 p.m. on the same Business Day; funds . Funds received after such time will be made available by not later than 11:00 a.m. on the next Business Day. The failure or refusal of any Lender Bank to make available to the Agent at the aforesaid time and place on any Drawdown Date the amount of its Commitment Percentage of the requested Revolving Credit Loan shall not relieve any other Lender Bank from its several obligation hereunder to make available to the Agent the amount of its Commitment Percentage of any requested Revolving Credit Loan but in no event shall the Agent (in its capacity as Agent) have any obligation to make any funding or shall any Lender Bank be obligated to fund more than its Commitment Percentage of the requested Revolving Credit Loan or to increase its Commitment Percentage on account of such failure or otherwise.

Appears in 1 contract

Samples: Revolving Credit Agreement (Grove Property Trust)

Funds for Revolving Credit Loans. (a) Subject to the other provisions of this §2, not later than 11:00 a.m. (Cleveland, Ohio Boston time) on the proposed Drawdown Date of any Revolving Credit Loan, each of the Lenders Banks will make available to the Agent, at the Agent’s Head Funding Office, in immediately available funds, the amount of such LenderBank’s Commitment Percentage of the amount of the requested Revolving Credit Loan. Upon receipt from each Lender Bank of such amount, the Agent will make available to the Borrower the aggregate amount of such Revolving Credit Loan made available to the Agent by the LendersBanks. All such funds received by the Agent by 11:00 a.m. (Cleveland, Ohio timeBoston Time) on any Business Day will be made available to the Borrower not later than 2:00 p.m. on the same Business Day; funds received after such time will be made available by not later than 11:00 a.m. on the next Business DayDay (provided that as to any Bank which is required to fund Revolving Credit Loans from its head office located in the Pacific Time Zone (U.S.), the preceding reference to ‘11:00 a.m.’ shall be deemed to be a reference to ‘1:00 p.m.’). The failure or refusal of any Lender Bank to make available to the Agent at the aforesaid time and place on any Drawdown Date the amount of its Commitment Percentage of the requested Revolving Credit Loan shall not relieve any other Lender Bank from its several obligation hereunder to make available to the Agent the amount of its Commitment Percentage of any requested Revolving Credit Loan but in no event shall the Agent (in its capacity as Agent) have any obligation to make any funding or shall any Lender Bank be obligated to fund more than its Commitment Percentage of the requested Revolving Credit Loan or to increase its Commitment Percentage on account of such failure or otherwise.

Appears in 1 contract

Samples: Credit Agreement (Boston Properties LTD Partnership)

Funds for Revolving Credit Loans. (a) Subject to the other provisions of this §2(S)2, not later than 11:00 a.m. (Cleveland, Ohio Boston time) on the proposed Drawdown Date of any Revolving Credit Loan, each of the Lenders Banks will make available to the Agent, at the Agent’s its Head Office, in immediately available funds, the amount of such Lender’s Bank's Commitment Percentage of the amount of the requested Revolving Credit Loan. Upon receipt from each Lender Bank of such amount, the Agent will make available to the Borrower the aggregate amount of such Revolving Credit Loan made available to the Agent by the Lenders. All Banks; all such funds received by the Agent by 11:00 a.m. (Cleveland, Ohio timeBoston Time) on any Business Day will be made available to the Borrower not later than 2:00 p.m. on the same Business Day; funds . Funds received after such time will be made available by not later than 11:00 a.m. on the next Business Day. The failure or refusal of any Lender Bank to make available to the Agent at the aforesaid time and place on any Drawdown Date the amount of its Commitment Percentage of the requested Revolving Credit Loan shall not relieve any other Lender Bank from its several obligation hereunder to make available to the Agent the amount of its Commitment Percentage of any requested Revolving Credit Loan but in no event shall the Agent (in its capacity as Agent) have any obligation to make any funding or shall any Lender Bank be obligated to fund more than its Commitment Percentage of the requested Revolving Credit Loan or to increase its Commitment Percentage on account of such failure or otherwise.

Appears in 1 contract

Samples: Revolving Credit Agreement (Beacon Properties L P)

Funds for Revolving Credit Loans. (a) Subject to the other provisions of this §2(S)2, not later than 11:00 a.m. (Cleveland, Ohio Boston time) on the proposed Drawdown Date of any Revolving Credit LoanLoans, each of the Lenders Banks will make available to the Agent, at the Agent’s its Head Office, in immediately available funds, the amount of such Lender’s Bank's Commitment Percentage of the amount of the requested Revolving Credit Loan. Upon receipt from each Lender Bank of such amount, the Agent will make available to the Borrower the aggregate amount of such Revolving Credit Loan made available to the Agent by the LendersBanks. All such funds received by the Agent by 11:00 a.m. (Cleveland, Ohio timeBoston Time) on any Business Day will be made available to the Borrower not later than 2:00 p.m. on the same Business Day; funds received after such time will be made available by not later than 11:00 a.m. on the next Business Day. The failure or refusal of any Lender Bank to make available to the Agent at the aforesaid time and place on any Drawdown Date the amount of its Commitment Percentage of the requested Revolving Credit Loan shall not relieve any other Lender Bank from its several obligation hereunder to make available to the Agent the amount of its Commitment Percentage of any requested Revolving Credit Loan but in no event shall the Agent (in its capacity as Agent) have any obligation to make any funding or shall any Lender Bank be obligated to fund more than its Commitment Percentage of the requested Revolving Credit Loan or to increase its Commitment Percentage on account of such failure or otherwise.

Appears in 1 contract

Samples: Credit Agreement (Boston Properties Inc)

Funds for Revolving Credit Loans. (a) Subject to the other provisions of this §2, not later than 11:00 a.m. (Cleveland, Ohio time) on the proposed Drawdown Date of any Revolving Credit Loan, each of the Lenders will make available to the Agent, at the Agent’s Head Office, in immediately available funds, the amount of such Lender’s 's Commitment Percentage of the amount of the requested Revolving Credit Loan. Upon receipt from each Lender of such amount, the Agent will make available to the Borrower the aggregate amount of such Revolving Credit Loan made available to the Agent by the Lenders. All such funds received by the Agent by 11:00 a.m. (Cleveland, Ohio time) on any Business Day will be made available to the Borrower not later than 2:00 p.m. on the same Business Day; funds received after such time will be made available by not later than 11:00 a.m. on the next Business Day. The failure or refusal of any Lender to make available to the Agent at the aforesaid time and place on any Drawdown Date the amount of its Commitment Percentage of the requested Revolving Credit Loan shall not relieve any other Lender from its several obligation hereunder to make available to the Agent the amount of its Commitment Percentage of any requested Revolving Credit Loan but in no event shall the Agent (in its capacity as Agent) have any obligation to make any funding or shall any Lender be obligated to fund more than its Commitment Percentage of the requested Revolving Credit Loan or to increase its Commitment Percentage on account of such failure or otherwise.

Appears in 1 contract

Samples: Revolving Credit Agreement (Hartman Commercial Properties Reit)

Funds for Revolving Credit Loans. (a) Subject to the other provisions of this §Section 2, not later than 11:00 a.m. (Cleveland, Ohio Boston time) on the proposed Drawdown Date of any Revolving Credit Loan, each of the Lenders Banks will make available to the Agent, at the Agent’s its Head Office, in immediately available funds, the amount of such Lender’s Bank's Commitment Percentage of the amount of the requested Revolving Credit Loan. Upon receipt from each Lender Bank of such amount, the Agent will make available to the Borrower the aggregate amount of such Revolving Credit Loan made available to the Agent by the LendersBanks. All such funds received by the Agent by 11:00 a.m. (Cleveland, Ohio timeBoston Time) on any Business Day will be made available to the Borrower not later than 2:00 p.m. on the same Business Day; funds received after such time will be made available by not later than 11:00 a.m. on the next Business DayDay (provided that as to any Bank which is required to fund Revolving Credit Loans from its head office located in the Pacific Time Zone (U.S.), the preceding reference to `11:00 a.m.' shall be deemed to be a reference to `1:00 p.m.'). The failure or refusal of any Lender Bank to make available to the Agent at the aforesaid time and place on any Drawdown Date the amount of its Commitment Percentage of the requested Revolving Credit Loan shall not relieve any other Lender Bank from its several obligation hereunder to make available to the Agent the amount of its Commitment Percentage of any requested Revolving Credit Loan but in no event shall the Agent (in its capacity as Agent) have any obligation to make any funding or shall any Lender Bank be obligated to fund more than its Commitment Percentage of the requested Revolving Credit Loan or to increase its Commitment Percentage on account of such failure or otherwise.

Appears in 1 contract

Samples: Credit Agreement (Boston Properties Inc)

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Funds for Revolving Credit Loans. (a) Subject to the other provisions of this §2ss.2, not later than 11:00 a.m. (Cleveland, Ohio Boston time) on the proposed Drawdown Date of any Revolving Credit LoanLoans, each of the Lenders Banks will make available to the Agent, at the Agent’s its Head Office, in immediately available funds, the amount of such Lender’s Bank's Commitment Percentage of the amount of the requested Revolving Credit Loan. Upon receipt from each Lender Bank of such amount, the Agent will make available to the Borrower the aggregate amount of such Revolving Credit Loan made available to the Agent by the Lenders. All Banks; all such funds received by the Agent by 11:00 a.m. (Cleveland, Ohio timeBoston Time) on any Business Day will be made available to the Borrower not later than 2:00 p.m. on the same Business Day; funds . Funds received after such time will be made available by not later than 11:00 a.m. on the next Business Day. The failure or refusal of any Lender Bank to make available to the Agent at the aforesaid time and place on any Drawdown Date the amount of its Commitment Percentage of the requested Revolving Credit Loan shall not relieve any other Lender Bank from its several obligation hereunder to make available to the Agent the amount of its Commitment Percentage of any requested Revolving Credit Loan but in no event shall the Agent (in its capacity as Agent) have any obligation to make any funding or shall any Lender Bank be obligated to fund more than its Commitment Percentage of the requested Revolving Credit Loan or to increase its Commitment Percentage on account of such failure or otherwise.

Appears in 1 contract

Samples: Revolving Credit Agreement (Beacon Properties L P)

Funds for Revolving Credit Loans. (a) Subject to the other provisions of this §2, not later than 11:00 a.m. (Clevelandin the case of any Revolving Credit Loan denominated in Dollars, Ohio time) and not later than the Applicable Time specified by the Agent in the case of any Revolving Credit Loan denominated in an Alternative Currency, in each case on the proposed Drawdown Date of any Revolving Credit LoanDate, each of the Lenders Banks will make available to the Agent, at the Agent’s Head OfficeFunding Office for the applicable currency, in immediately available fundsSame Day Funds, the amount of such LenderBank’s Commitment Percentage of the amount of the requested Revolving Credit Loan. Upon receipt from each Lender Bank of such amount, the Agent will make available to the Borrower the aggregate amount of such Revolving Credit Loan made available to the Agent by the LendersBanks. All such funds received by the Agent by 11:00 a.m. (Cleveland, Ohio time) on any Business Day will be made available to the Borrower not later than 2:00 p.m. on the same Business Day; funds received after such time will be made available by not later than 11:00 a.m. on the next Business DayDay (provided that as to any Bank which is required to fund Revolving Credit Loans from its head office located in the Pacific Time Zone (U.S.), the preceding reference to ‘11:00 a.m.’ shall be deemed to be a reference to ‘1:00 p.m.’). The failure or refusal of any Lender Bank to make available to the Agent at the aforesaid time and place on any Drawdown Date the amount of its Commitment Percentage of the requested Revolving Credit Loan shall not relieve any other Lender Bank from its several obligation hereunder to make available to the Agent the amount of its Commitment Percentage of any requested Revolving Credit Loan but in no event shall the Agent (in its capacity as Agent) have any obligation to make any funding or shall any Lender Bank be obligated to fund more than its Commitment Percentage of the requested Revolving Credit Loan or to increase its Commitment Percentage on account of such failure or otherwise.

Appears in 1 contract

Samples: Assignment and Assumption (Boston Properties LTD Partnership)

Funds for Revolving Credit Loans. (a) Subject to the other provisions of this §2ss.2, not later than 11:00 a.m. (Cleveland, Ohio Providence time) on the proposed Drawdown Date of any Revolving Credit LoanLoans, each of the Lenders Banks will make available to the Agent, at the Agent’s its Head Office, in immediately available funds, the amount of such Lender’s Bank's Commitment Percentage of the amount of the requested Revolving Credit Loan. Upon receipt from each Lender Bank of such amount, the Agent will make available to the Borrower the aggregate amount of such Revolving Credit Loan made available to the Agent by the Lenders. All Banks; all such funds received by the Agent by 11:00 a.m. (Cleveland, Ohio timeProvidence Time) on any Business Day will be made available to the Borrower not later than 2:00 p.m. on the same Business Day; funds . Funds received after such time will be made available by not later than 11:00 a.m. on the next Business Day. The failure or refusal of any Lender Bank to make available to the Agent at the aforesaid time and place on any Drawdown Date the amount of its Commitment Percentage of the requested Revolving Credit Loan shall not relieve any other Lender Bank from its several obligation hereunder to make available to the Agent the amount of its Commitment Percentage of any requested Revolving Credit Loan but in no event shall the Agent (in its capacity as Agent) have any obligation to make any funding or shall any Lender Bank be obligated to fund more than its Commitment Percentage of the requested Revolving Credit Loan or to increase its Commitment Percentage on account of such failure or otherwise.

Appears in 1 contract

Samples: Revolving Credit Agreement (Grove Real Estate Asset Trust)

Funds for Revolving Credit Loans. (a) Subject to the other provisions of this §Section 2, not later than 11:00 a.m. (Cleveland, Ohio Boston time) on the proposed Drawdown Date of any Revolving Credit LoanLoans, each of the Lenders Banks will make available to the Agent, at the Agent’s its Head Office, in immediately available funds, the amount of such Lender’s Bank's Commitment Percentage of the amount of the requested Revolving Credit Loan. Upon receipt from each Lender Bank of such amount, the Agent will make available to the Borrower the aggregate amount of such Revolving Credit Loan made available to the Agent by the LendersBanks. All such funds received by the Agent by 11:00 a.m. (Cleveland, Ohio timeBoston Time) on any Business Day will be made available to the Borrower not later than 2:00 p.m. on the same Business Day; funds received after such time will be made available by not later than 11:00 a.m. on the next Business Day. The failure or refusal of any Lender Bank to make available to the Agent at the aforesaid time and place on any Drawdown Date the amount of its Commitment Percentage of the requested Revolving Credit Loan shall not relieve any other Lender Bank from its several obligation hereunder to make available to the Agent the amount of its Commitment Percentage of any requested Revolving Credit Loan but in no event shall the Agent (in its capacity as Agent) have any obligation to make any funding or shall any Lender Bank be obligated to fund more than its Commitment Percentage of the requested Revolving Credit Loan or to increase its Commitment Percentage on account of such failure or otherwise.

Appears in 1 contract

Samples: Revolving Credit Agreement (Boston Properties Inc)

Funds for Revolving Credit Loans. (a) Subject to the other provisions of this §2ss.2, not later than 11:00 a.m. (Cleveland, Ohio time) on the proposed Drawdown Date of any Revolving Credit LoanLoans, each of the Lenders Banks will make available to the Agent, at the Agent’s its Head Office, in immediately available funds, the amount of such Lender’s Bank's Commitment Percentage of the amount of the requested Revolving Credit Loan. Upon receipt from each Lender Bank of such amount, the Agent will make available to the Borrower the aggregate amount of such Revolving Credit Loan made available to the Agent by the Lenders. All Banks; all such funds received by the Agent by 11:00 a.m. (Cleveland, Ohio time) on any Business Day will be made available to the Borrower not later than 2:00 p.m. on the same Business Day; funds . Funds received after such time will be made available by not later than 11:00 a.m. on the next Business Day. The failure or refusal of any Lender Bank to make available to the Agent at the aforesaid time and place on any Drawdown Date the amount of its Commitment Percentage of the requested Revolving Credit Loan shall not relieve any other Lender Bank from its several obligation hereunder to make available to the Agent the amount of its Commitment Percentage of any requested Revolving Credit Loan but in no event shall the Agent (in its capacity as Agent) have any obligation to make any funding or shall any Lender Bank be obligated to fund more than its Commitment Percentage of the requested Revolving Credit Loan or to increase its Commitment Percentage on account of such failure or otherwise.

Appears in 1 contract

Samples: Revolving Credit Agreement (Grove Property Trust)

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