Common use of Procedure for Borrowing Clause in Contracts

Procedure for Borrowing. Each Borrowing shall be made by a request by an Authorized Person delivered to Lender (which notice must be received by Lender no later than 10:00 a.m. (California time) on the Business Day that is the requested Funding Date specifying (i) the amount of such Borrowing, and (ii) the requested Funding Date, which shall be a Business Day. At Lender's election, in lieu of delivering the above-described request in writing, any Authorized Person may give Lender telephonic notice of such request by the required time, with such telephonic notice to be confirmed in writing within 24 hours of the giving of such notice.

Appears in 11 contracts

Samples: Loan and Security Agreement (I Link Inc), Loan and Security Agreement (Brio Software Inc), Loan and Security Agreement (Majestic Investor Capital Corp)

AutoNDA by SimpleDocs

Procedure for Borrowing. Each Borrowing shall be made by a written request by an Authorized Person delivered to Lender (which notice must be received by Lender no later than 10:00 a.m. (California time) on the Business Day that is the requested Funding Date specifying (i) the amount of such Borrowing, and (ii) the requested Funding Date, which shall be a Business Day. At Lender's election, in lieu of delivering the above-described request in writing, any Authorized Person may give Lender telephonic notice of such request by the required time, with such telephonic notice to be confirmed in writing within 24 hours of the giving of such notice.

Appears in 5 contracts

Samples: Loan and Security Agreement (SPSS Inc), Loan and Security Agreement (Metalico Inc), Loan and Security Agreement (Futurelink Corp)

Procedure for Borrowing. Each Borrowing shall be made by a an irrevocable written request by an Authorized Person delivered to Lender (which Lender. Such notice must be received by Lender no later than 10:00 a.m. (California time) on the a Business Day that is the requested Funding Date specifying (i) the amount of such Borrowing, and (ii) the requested Funding Date, which shall be a Business Day. At Lender's election, in lieu of delivering the above-described request in writingwritten request, any Authorized Person may give Lender telephonic notice of such request by the required time. In such circumstances, with Borrower agrees that any such telephonic notice to will be confirmed in writing within 24 hours of the giving of such telephonic notice, but the failure to provide such written confirmation shall not affect the validity of the request.

Appears in 4 contracts

Samples: Loan and Security Agreement (Overstock Com Inc), Loan and Security Agreement (Viskase Companies Inc), Loan and Security Agreement (Viskase Companies Inc)

Procedure for Borrowing. Each Borrowing shall be made by a written notice request by an Authorized Person delivered to Lender in the form of EXHIBIT A-1 (which notice must be received by Lender no later than 10:00 a.m. (California time) on the Business Day that is the requested Funding Date specifying (i) the amount of such Borrowing, and (ii) the requested Funding Date, which shall be a Business Day. At Lender's election, in lieu of delivering the above-described request in writing, any Authorized Person may also give Lender telephonic notice of such request by the required time, with such telephonic notice to be confirmed in writing within 24 hours of the giving of such noticenotice in the form of EXHIBIT A-1.

Appears in 1 contract

Samples: Loan and Security Agreement (Synavant Inc)

Procedure for Borrowing. Each Borrowing shall be made by a request by an Authorized Person delivered to Lender (which notice must be received by Lender no later than 10:00 11:00 a.m. (California time) on the Business Day that is the requested Funding Date specifying (i) the amount of such Borrowing, and (ii) the requested Funding Date, which shall be a Business Day. At Lender's election, in lieu of delivering the above-described request in writing, any Authorized Person may give Lender telephonic notice of such request by the required time, with such telephonic notice to be confirmed in writing within 24 hours of the giving of such notice.

Appears in 1 contract

Samples: Loan and Security Agreement (Special Devices Inc /De)

Procedure for Borrowing. Each Borrowing shall be made by a request by an Authorized Person delivered to Lender (which notice must be received by Lender no later than 10:00 a.m. (California time) on the Business Day that is the requested Funding Date specifying (i) the amount of such Borrowing, and (ii) the requested Funding Date, which shall be a Business Day. At Lender's election, in lieu of delivering the above-described request in writing, any Authorized Person may give Lender telephonic notice of such request by the required time, with such telephonic notice to be confirmed in writing within 24 hours of the giving of such notice. For any request which includes initial funding to a new Payee, Borrower shall submit a copy of Borrower's credit committee approval for such Payee.

Appears in 1 contract

Samples: Loan and Security Agreement (Equifin Inc)

Procedure for Borrowing. Each Borrowing shall be made by a written request by an Authorized Person delivered to Lender (which notice must be received by Lender no later than 10:00 a.m. (California time) on the Business Day that is the requested Funding Date specifying (i) the amount of such Borrowing, and (ii) the requested Funding Date, which shall be a Business Day. At Lender's election, in lieu of delivering the above-described request in writing, any Authorized Person may give Lender telephonic notice of such request by the required time, with such telephonic notice to be confirmed in writing within 24 twenty-four (24) hours of the giving of such notice.

Appears in 1 contract

Samples: Loan and Security Agreement (FFP Marketing Co Inc)

Procedure for Borrowing. Each Borrowing shall be made by a written request by an Authorized Person delivered to Lender (which notice must be received by Lender no later than 10:00 a.m. (California time) on the a Business Day that is the requested Funding Date specifying (i) the amount of such Borrowing, and (ii) the requested Funding Date, which shall be a Business Day. At Lender's election, in lieu of delivering the above-described request in writing, any Authorized Person may give Lender telephonic notice of such request by the required time, with such telephonic notice to be confirmed in writing within 24 hours of the giving of such notice. The provisions of this clause (a) are subject to the provisions of SECTION 2.13(B).

Appears in 1 contract

Samples: Loan and Security Agreement (Cyrk Inc)

Procedure for Borrowing. Each Borrowing Advance shall be made by a request by an Authorized Person delivered to Lender (which notice request must be received by Lender no later than 10:00 a.m. (California time) on the third Business Day that is preceding the requested Funding Date Date) specifying (i) the amount of such Borrowingthe requested Advance, and (ii) the requested Funding Date, which shall be a Business Day. At Lender's election, in lieu of delivering the above-described request in writing, any Authorized Person may give Lender telephonic notice of such request by the required time, with such telephonic notice to be confirmed in writing within 24 hours of the giving of such notice.

Appears in 1 contract

Samples: Loan and Security Agreement (I2 Technologies Inc)

Procedure for Borrowing. Each Borrowing shall be made by a written request by an Authorized Person delivered to Lender (which notice must be received by Lender no later than 10:00 a.m. (California time) on the Business Day that is the requested Funding Date specifying (i) the amount of such Borrowing, and (ii) the requested Funding Date, which shall be a Business Day. At Lender's ’s election, in lieu of delivering the above-described request in writing, any Authorized Person may give Lender telephonic notice of such request by the required time, with such telephonic notice to be confirmed in writing within 24 hours of the giving of such notice.

Appears in 1 contract

Samples: Loan and Security Agreement (Old Evangeline Downs Capital Corp)

AutoNDA by SimpleDocs

Procedure for Borrowing. Each Borrowing shall be made by a written request by an Authorized Person delivered to Lender (which notice must be received by Lender no later than 10:00 a.m. (California time) on the Business Day that is the requested Funding Date Date) specifying (i) the amount of such Borrowing, and (ii) the requested Funding Date, which shall be a Business Day. At Lender's election, in lieu of delivering the above-described request in writing, any Authorized Person may give Lender telephonic notice of such request by the required time, with such telephonic notice to be confirmed in writing within 24 hours of the giving of such notice.

Appears in 1 contract

Samples: Loan and Security Agreement (Cray Inc)

Procedure for Borrowing. Each Borrowing shall be made by a an irrevocable written request by an Authorized Person delivered to Lender (which notice must be received by Lender no later than 10:00 a.m. (California time) on the Business Day prior to the date that is the requested Funding Date specifying (i) the amount of such Borrowing, and (ii) the requested Funding Date, which shall be a Business Day. At Lender's election, in lieu of delivering the above-described request in writingwritten request, any Authorized Person may give Lender telephonic notice of such request by the required time, with such telephonic notice to be confirmed in writing within 24 hours of the giving of such notice.

Appears in 1 contract

Samples: Loan and Security Agreement (Kroll Inc)

Procedure for Borrowing. Each Subject to Section 2.1(e), each Borrowing shall be made by a an irrevocable written request by an Authorized Person delivered to Lender (which notice must be received by Lender no later than 10:00 a.m. 1:00 p.m. (California time) on the Business Day prior to the date that is the requested Funding Date specifying (i) the amount of such Borrowing, and (ii) the requested Funding Date, which shall be a Business Day. At Lender's election, election (which in lieu of delivering the above-described request in writingwritten request, any Authorized Person may give Lender telephonic notice of such request by the required time, with such telephonic notice to be confirmed in writing within 24 hours of the giving of such notice.

Appears in 1 contract

Samples: Loan and Security Agreement (Paradyne Networks Inc)

Procedure for Borrowing. Each Borrowing shall be made by a request by an Authorized Person delivered to Lender (which notice must be received by Lender no later than 10:00 a.m. (California time) on the Business Day that is the requested Funding Date specifying (i) the amount of such Borrowing, which shall be for an amount of not less than $500,000 or an integral multiple thereof, and (ii) the requested Funding Date, which shall be a Business Day. At Lender's electionrequest, Borrower shall confirm any telephonic request for a Borrowing in lieu of delivering the above-described request in writing, any writing by an Authorized Person may give Lender telephonic notice of such request by the required time, with such telephonic notice to be confirmed in writing within 24 hours of the giving of such telephonic notice.

Appears in 1 contract

Samples: Loan and Security Agreement (MRS Fields Holding Co Inc)

Procedure for Borrowing. Each Borrowing shall be made by a an irrevocable written request by an Authorized Person delivered to Lender Agent (which notice must be received by Lender Agent no later than 10:00 a.m. (California time) on the Business Day that is the requested Funding Date in the case of a request for an Advance or the Term Loan specifying (i) the amount of such Borrowing, and (ii) the requested Funding Date, which shall be a Business Day. At LenderAgent's election, in lieu of delivering the above-described request in writingwritten request, any Authorized Person may give Lender Agent telephonic notice of such request by the required time, with such telephonic notice to be confirmed in writing within 24 hours of the giving of such notice.

Appears in 1 contract

Samples: Loan and Security Agreement (Dairy Mart Convenience Stores Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.