Common use of Requests for Advances Clause in Contracts

Requests for Advances. Prior to 11:00 a.m. Dallas time, on the date requested by Borrowers for the making of any Advances, Borrowers must give to Agent written notice, or telephonic notice promptly confirmed in writing, of such request, after which Agent shall give each Lender prompt notice thereof. Each such written request or confirmation must be made in the form and substance of the "Request for Advances" attached hereto as Exhibit B, duly completed and signed by an Authorized Officer of Borrowers. Each such telephonic request shall be deemed a representation, warranty, acknowledgment and agreement by Borrowers as to the matters which are required to be set out in such written confirmation. If all conditions precedent to such Advances have been met, each Lender will promptly remit to Agent in favor of Borrowers the amount of such Lender's Advance in immediately available funds, and upon receipt of such funds, unless to its actual knowledge any conditions precedent to such Advances have neither been met nor waived by Lenders as provided herein, Agent shall promptly make the Advances available to Borrowers in immediately available funds at Agent's office in Dallas, Texas. Each Request for Advances shall be irrevocable and binding on Borrowers. Unless Agent shall have received prompt notice from a Lender that such Lender will not make available to Agent such Lender's Advance, Agent may in its discretion assume that such Lender has made such Advance available to Agent in accordance with this section and Agent may if it chooses, in reliance upon such assumption, make such Advance available to Borrowers. If and to the extent such Lender shall not so make its Advance available to Agent, such Lender and Borrowers severally agree to pay or repay to Agent within three days after demand the amount of such Advance together with interest thereon, for each day from the date such amount is made available to Borrowers until the date such amount is paid or repaid to Agent, at the interest rate applicable at the time to the other Advances made on such date. The failure of any Lender to make any Advance to be made by it hereunder shall not relieve any other Lender of its obligation hereunder, if any, to make its Advance, but no Lender shall be responsible for the failure of any other Lender to make any Advance to be made by such other Lender.

Appears in 1 contract

Samples: Credit Agreement (Devon Energy Corp /Ok/)

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Requests for Advances. Prior Bank’s obligation to 11:00 a.m. Dallas timemake any Advances is subject to all of the terms and conditions of this Agreement. A Borrower may request an Advance to be deposited into such Borrower’s deposit account(s) with Bank (i) in writing, on the date requested (ii) by Borrowers for the making of any Advances, Borrowers must give to Agent written notice, or telephonic notice telephone promptly confirmed in writing, or (iii) using Bank’s internet based Dealer Access System service (provided that use of such service shall be subject to the terms of an agreement between the applicable Borrower(s) and Bank). Bank will (unless Bank determines that any applicable condition specified in Section 4 has not been satisfied) make the Advance to Borrowers within five (5) Business Days of such request, after which Agent . Requests for Advances to be deposited or forwarded elsewhere shall give each Lender prompt notice thereofbe in writing in such form and containing such information as Bank may require from time to time. Each Borrower has the responsibility for ensuring that representatives of such Borrower contacting Bank to request Advances or submitting written requests for Advances are authorized. Bank shall be entitled to act on the instructions of anyone identifying himself or herself as authorized to request Advances and each Borrower shall be bound thereby in the same manner as if the person were actually so authorized. Bank is authorized to credit any of a Borrower’s accounts with Bank (or any account a Borrower designates in writing) for Advances made to such Borrower. A Borrower’s failure to confirm any telephonic request or confirmation must be made otherwise comply with the provisions of this Section 2.4 shall not in any manner affect the form and substance of the "Request for Advances" attached hereto as Exhibit B, duly completed and signed by an Authorized Officer of Borrowers. Each such telephonic request shall be deemed a representation, warranty, acknowledgment and agreement by Borrowers as to the matters which are required to be set out in such written confirmation. If all conditions precedent to such Advances have been met, each Lender will promptly remit to Agent in favor of Borrowers the amount obligation of such Lender's Advance in immediately available funds, and upon receipt of such funds, unless Borrower to its actual knowledge any conditions precedent to such Advances have neither been met nor waived by Lenders as provided herein, Agent shall promptly make the Advances available to Borrowers in immediately available funds at Agent's office in Dallas, Texas. Each Request for Advances shall be irrevocable and binding on Borrowers. Unless Agent shall have received prompt notice from a Lender that such Lender will not make available to Agent such Lender's Advance, Agent may in its discretion assume that such Lender has made repay such Advance available to Agent in accordance with the terms of this section Agreement. Each Borrower agrees not to hold Bank liable for any errors or misunderstanding in complying with any written or oral directions for Advances; and Agent each Borrower agrees to indemnify and hold the Bank harmless from any and all claims, damages, liabilities, losses, costs and expenses (including attorneys’ fees) which may if it choosesarise or be created by the acceptance of instructions (telephonic or otherwise) for making Advances by wire transfer or otherwise, in reliance upon such assumption, make such Advance available to Borrowers. If and to the extent such Lender shall not so make its Advance available to Agent, such Lender and Borrowers severally agree to pay or repay to Agent within three days after demand the amount for application of such Advance together with interest thereon, for each day from the date such amount is made available to Borrowers until the date such amount is paid or repaid to Agent, at the interest rate applicable at the time to the other Advances made on such date. The failure of any Lender to make any Advance to be made by it hereunder shall not relieve any other Lender of its obligation hereunder, if any, to make its Advance, but no Lender shall be responsible for the failure of any other Lender to make any Advance to be made by such other Lenderpayments.

Appears in 1 contract

Samples: Loan and Security Agreement (Insurance Acquisition Corp.)

Requests for Advances. Prior to 11:00 a.m. Dallas time, on the date requested by Borrowers for the making of any Advances, Borrowers Borrower must give to Agent at least three Business Days' prior written notice, or telephonic notice promptly confirmed in writing, of such requestany requested Advances, after which Agent shall give each Lender prompt notice thereofthereof within twenty-four hours of Agent's receipt of such requested Advances. Each such written request or confirmation must be made in the form and substance of the "Request for AdvancesAdvance" attached hereto as Exhibit EXHIBIT B, duly completed and signed by an Authorized Officer of Borrowerscompleted. Each such telephonic request shall be deemed a representation, warranty, acknowledgment and agreement by Borrowers Borrower as to the matters which are required to be set out in such written confirmation. If all conditions precedent to such Advances have been met, each Lender will on the date requested promptly remit to Agent at Agent's office in favor of Borrowers New York, New York the amount of such Lender's Advance in immediately available funds, and upon receipt of such funds, unless to its actual knowledge any conditions precedent to such Advances have been neither been met nor waived by Lenders as provided herein, Agent shall promptly make the Advances available to Borrowers in immediately available funds at Agent's office in Dallas, TexasBorrower. Each Request for Advances Advance shall be irrevocable and binding on BorrowersBorrower. Unless Agent shall have received prompt notice from a Lender that such Lender will not make available to Agent such Lender's Advance, Agent may in its discretion assume that such Lender has made such Advance available to Agent in accordance with this section and Agent may if it chooses, in reliance upon such assumption, make such Advance available to BorrowersBorrower. If and to the extent such Lender shall not so make its Advance available to Agent, such Lender and Borrowers Borrower severally agree to pay or repay to Agent within three days after demand the amount of such Advance together with interest thereon, for each day from the date such amount is made available to Borrowers Borrower until the date such amount is paid or repaid to Agent, at the interest rate applicable at the time to the other Advances Federal Funds Rate; provided that Agent shall first notify such Lender and if Agent does not receive such Lender's Advance immediately upon receipt of such notice, then Borrower shall pay such amount within three (3) days after demand therefor is made on such dateupon Borrower. The failure of any Lender to make any Advance to be made by it hereunder shall not relieve any other Lender of its obligation hereunder, if any, to make its Advance, but no Lender shall be responsible for the failure of any other Lender to make any Advance to be made by such other Lender.

Appears in 1 contract

Samples: Credit Agreement (Forcenergy Inc)

Requests for Advances. Prior If Borrower desires to receive a --------------------- Revolving Advance, Borrower shall deliver a notice to Agent substantially in the form of Exhibit D no later than 2:00 p.m. (California time) on the second Business Day prior to the date of the proposed Revolving Advance. Each such notice (a "Notice of Revolving Advance") shall be from an Authorized Financial Representative. Agent and Revolving Lenders shall be entitled to rely upon and shall be fully protected under this Agreement in relying upon any Notice of Revolving Advance reasonably believed by Agent to be genuine. Agent shall deliver notice of its receipt of the Notice of Revolving Advance to each Revolving Lender on or before 11:00 a.m. Dallas (California time) on the Business Day prior to the date of the proposed Revolving Advance, and each of the other Revolving Lenders shall wire its Initial Percentage of such Revolving Advance to the Disbursement Account (with notice to Agent that such wire has been made) on or before 11:00 a.m. (California time) on the date requested by Borrowers for of the making proposed Revolving Advance. Upon the close of any Advancesbusiness on the date of the proposed Revolving Advance, Borrowers must give to Agent written notice, or telephonic notice promptly confirmed the funds in writing, of such request, after which Agent the Disbursement Account shall give each Lender prompt notice thereof. Each such written request or confirmation must be made in available to Borrower by the form and substance of bank at which the "Request for Advances" attached hereto as Exhibit BDisbursement Account is held, duly completed and signed by an Authorized Officer of Borrowers. Each unless such telephonic request bank shall be deemed a representation, warranty, acknowledgment and agreement by Borrowers as to the matters which are required to be set out in such written confirmation. If all conditions precedent to such Advances have been met, each Lender will promptly remit instructed by Agent to Agent in favor of Borrowers the amount of such Lender's Advance in immediately available funds, and upon receipt of withhold such funds, unless which instructions Agent may deliver if Agent has determined that Borrower has failed to its actual knowledge any fulfill the applicable conditions precedent set forth in Article IV. All notices delivered pursuant to this Section 2.1(b) shall be delivered by facsimile to the facsimile number set forth in Section 13.12 or to such Advances have neither been met nor waived by Lenders other facsimile number as provided herein, Agent a party hereto shall promptly make the Advances available to Borrowers designate in immediately available funds at Agent's office in Dallas, Texas. Each Request for Advances shall be irrevocable and binding on Borrowers. Unless Agent shall have received prompt notice from a Lender that such Lender will not make available to Agent such Lender's Advance, Agent may in its discretion assume that such Lender has made such Advance available to Agent in accordance with this section and Agent may if it chooses, in reliance upon such assumption, make such Advance available to Borrowers. If and writing pursuant to the extent such Lender shall not so make its Advance available to Agent, such Lender and Borrowers severally agree to pay or repay to Agent within three days after demand the amount provisions of such Advance together with interest thereon, for each day from the date such amount is made available to Borrowers until the date such amount is paid or repaid to Agent, at the interest rate applicable at the time to the other Advances made on such dateSection 13.12. The failure of any Revolving Lender (such Revolving Lender, a "Non-Funding Lender") to make any Revolving Advance to be made by it hereunder on the date specified therefor shall not relieve any other Revolving Lender ("Other Lender") of its obligation hereunder, if any, to make its AdvanceRevolving Advance on such date, but no neither any Other Lender nor Agent shall be responsible for the failure of any other Non- Funding Lender to make any an Advance to be made by such other Non-Funding Lender.

Appears in 1 contract

Samples: Credit Agreement (Beringer Wine Estates Holdings Inc)

Requests for Advances. Prior If Borrower desires to receive a Revolving --------------------- Advance, Borrower shall deliver a notice to Agent substantially in the form of Exhibit D no later than 2:00 p.m. (California time) on the second Business Day prior to the date of the proposed Revolving Advance. Each such notice (a "Notice of Revolving Advance") shall be from an Authorized Financial Representative. Agent and Revolving Lenders shall be entitled to rely upon and shall be fully protected under this Agreement in relying upon any Notice of Revolving Advance reasonably believed by Agent to be genuine. Agent shall deliver notice of its receipt of the Notice of Revolving Advance to each Revolving Lender on or before 11:00 a.m. Dallas (California time) on the Business Day prior to the date of the proposed Revolving Advance, and each of the other Revolving Lenders shall wire its Percentage of such Revolving Advance to the Disbursement Account (with notice to Agent that such wire has been made) on or before 11:00 a.m. (California time) on the date requested by Borrowers for of the making proposed Revolving Advance. Upon the close of any Advancesbusiness on the date of the proposed Revolving Advance, Borrowers must give to Agent written notice, or telephonic notice promptly confirmed the funds in writing, of such request, after which Agent the Disbursement Account shall give each Lender prompt notice thereof. Each such written request or confirmation must be made in available to Borrower by the form and substance of bank at which the "Request for Advances" attached hereto as Exhibit BDisbursement Account is held, duly completed and signed by an Authorized Officer of Borrowers. Each unless such telephonic request bank shall be deemed a representation, warranty, acknowledgment and agreement by Borrowers as to the matters which are required to be set out in such written confirmation. If all conditions precedent to such Advances have been met, each Lender will promptly remit instructed by Agent to Agent in favor of Borrowers the amount of such Lender's Advance in immediately available funds, and upon receipt of withhold such funds, unless which instructions Agent may deliver if Agent has determined that Borrower has failed to its actual knowledge any fulfill the applicable conditions precedent set forth in Article IV. All notices delivered pursuant to this Section 2.1(b) shall be delivered by facsimile to the facsimile number set forth in Section 13.12 or to such Advances have neither been met nor waived by Lenders other facsimile number as provided herein, Agent a party hereto shall promptly make the Advances available to Borrowers designate in immediately available funds at Agent's office in Dallas, Texas. Each Request for Advances shall be irrevocable and binding on Borrowers. Unless Agent shall have received prompt notice from a Lender that such Lender will not make available to Agent such Lender's Advance, Agent may in its discretion assume that such Lender has made such Advance available to Agent in accordance with this section and Agent may if it chooses, in reliance upon such assumption, make such Advance available to Borrowers. If and writing pursuant to the extent such Lender shall not so make its Advance available to Agent, such Lender and Borrowers severally agree to pay or repay to Agent within three days after demand the amount provisions of such Advance together with interest thereon, for each day from the date such amount is made available to Borrowers until the date such amount is paid or repaid to Agent, at the interest rate applicable at the time to the other Advances made on such dateSection 13.12. The failure of any Revolving Lender (such Revolving Lender, a "Non-Funding Lender") to make any Revolving Advance to be made by it hereunder on the date specified therefor shall not relieve any other Revolving Lender ("Other Lender") of its obligation hereunder, if any, to make its AdvanceRevolving Advance on such date, but no neither any Other Lender nor Agent shall be responsible for the failure of any other Non-Funding Lender to make any an Advance to be made by such other Non- Funding Lender.

Appears in 1 contract

Samples: Credit Agreement (Beringer Wine Estates Holdings Inc)

Requests for Advances. Prior to 11:00 a.m. Dallas time, on the date requested by Borrowers Borrower for the making of any Advances, Borrowers Borrower must give to Agent written notice, or telephonic notice promptly confirmed in writing, of such request, after which Agent shall give each Lender prompt notice thereof. Each such written request or confirmation must be made in the form and substance of the "Request for Advances" attached hereto as Exhibit B, duly completed and signed by an Authorized Officer of BorrowersBorrower, Parent and DEOC. Each such telephonic request shall be deemed a representation, warranty, acknowledgment acknowledgement and agreement by Borrowers Borrower, Parent and DEOC as to the matters which are required to be set out in such written confirmation. If all conditions precedent to such Advances have been met, each Lender will promptly remit to Agent in favor of Borrowers Borrower the amount of such Lender's Advance in immediately available funds, and upon receipt of such funds, unless to its actual knowledge any conditions precedent to such Advances have neither been met nor waived by Lenders as provided herein, Agent shall promptly make the Advances available to Borrowers Borrower in immediately available funds at Agent's office in Dallas, Texas. Each Request for Advances shall be irrevocable and binding on BorrowersBorrower. Unless Agent shall have received prompt notice from a Lender that such Lender will not make available to Agent such Lender's Advance, Agent may in its discretion assume that such Lender has made such Advance available to Agent in accordance with this section and Agent may if it chooses, in reliance upon such assumption, make such Advance available to BorrowersBorrower. If and to the extent such Lender shall not so make its Advance available to Agent, such Lender and Borrowers Borrower severally agree to pay or repay to Agent within three days after demand the amount of such Advance together with interest thereon, for each day from the date such amount is made available to Borrowers Borrower until the date such amount is paid or repaid to Agent, at the interest rate applicable at the time to the other Advances made on such date. The failure of any Lender to make any Advance to be made by it hereunder shall not relieve any other Lender of its obligation hereunder, if any, to make its Advance, but no Lender shall be responsible for the failure of any other Lender to make any Advance to be made by such other Lender.

Appears in 1 contract

Samples: Credit Agreement (Devon Energy Corp /Ok/)

Requests for Advances. Prior to 11:00 a.m. Dallas time, on the date requested by Borrowers for the making of any Advances, Borrowers Borrower must give to Agent at least three Business Days' prior written notice, or telephonic notice promptly confirmed in writing, of such requestany requested Advances, after which Agent shall give each Lender prompt notice thereofthereof within twenty-four hours of Agent's receipt of such requested Advances. Each such written request or confirmation must be made in the form and substance of the "Request for AdvancesAdvance" attached hereto as Exhibit B, duly completed and signed by an Authorized Officer of Borrowerscompleted. Each such telephonic request shall be deemed a representation, warranty, acknowledgment and agreement by Borrowers Borrower as to the matters which are required to be set out in such written confirmation. If all conditions precedent to such Advances have been met, each Lender will on the date requested promptly remit to Agent at Agent's office in favor of Borrowers New York, New York the amount of such Lender's Advance in immediately available funds, and upon receipt of such funds, unless to its actual knowledge any conditions precedent to such Advances have been neither been met nor waived by Lenders as provided herein, Agent shall promptly make the Advances available to Borrowers in immediately available funds at Agent's office in Dallas, TexasBorrower. Each Request for Advances Advance shall be irrevocable and binding on BorrowersBorrower. Unless Agent shall have received prompt notice from a Lender that such Lender will not make available to Agent such Lender's Advance, Agent may in its discretion assume that such Lender has made such Advance available to Agent in accordance with this section and Agent may if it chooses, in reliance upon such assumption, make such Advance available to BorrowersBorrower. If and to the extent such Lender shall not so make its Advance available to Agent, such Lender and Borrowers Borrower severally agree to pay or repay to Agent within three days after demand the amount of such Advance together with interest thereon, for each day from the date such amount is made available to Borrowers Borrower until the date such amount is paid or repaid to Agent, at the interest rate applicable at the time in an amount equal to the other Advances Agent's actual cost of such funds; provided that Agent shall first notify such Lender and if Agent does not receive such Lender's Advance immediately upon receipt of such notice, then Borrower shall pay such amount within three (3) days after demand therefor is made on such dateupon Borrower. The failure of any Lender to make any Advance to be made by it hereunder shall not relieve any other Lender of its obligation hereunder, if any, to make its Advance, but no Lender shall be responsible for the failure of any other Lender to make any Advance to be made by such other Lender.

Appears in 1 contract

Samples: Credit Agreement (Forcenergy Inc)

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Requests for Advances. Prior to 11:00 a.m. Dallas time, on the date requested by Borrowers for the making of any Advances, Borrowers Borrower must give to Administrative Agent written notice, or telephonic notice promptly confirmed in writing, of any requested Advances, which notice must be received by Administrative Agent not later than 10:00 a.m., Dallas, Texas time, on the date of the requested Advances (or three Business Days prior to the date of the requested Advances if Borrower is desires for all or any part of such request, after which Advances to make up a Tranche of Fixed Rate Portions on such date). After receiving any such notice Administrative Agent shall give each Lender prompt notice thereofof the requested Advances. Each such written request or confirmation must be made in the form and substance of the "Request for Advances" attached hereto as Exhibit B, duly completed and signed by an Authorized Officer of Borrowerscompleted. Each such telephonic request shall be deemed a representation, warranty, acknowledgment and agreement by Borrowers Borrower as to the matters which are required to be set out in such written confirmation. If all conditions precedent to such Advances have been met, each Lender will on the date requested promptly remit to Administrative Agent at Administrative Agent's office in favor of Borrowers Dallas, Texas the amount of such Lender's Advance in immediately available funds, and upon receipt of such funds, unless to its actual knowledge any conditions precedent to such Advances have been neither been met nor waived by Lenders as provided herein, Administrative Agent shall promptly make the Advances available to Borrowers in immediately available funds at Agent's office in Dallas, TexasBorrower. Each Request for Advances shall be irrevocable and binding on BorrowersBorrower. Unless Administrative Agent shall have received prompt notice from a Lender that such Lender will not make available to Administrative Agent such Lender's Advance, Administrative Agent may in its discretion assume that such Lender has made such Advance available to Administrative Agent in accordance with this section and Administrative Agent may if it chooses, in reliance upon such assumption, make such Advance available to BorrowersBorrower. If and to the extent such Lender shall not so make its Advance available to Administrative Agent, such Lender and Borrowers Borrower severally agree to pay or repay to Administrative Agent within three days after demand the amount of such Advance together with interest thereon, for each day from the date such amount is made available to Borrowers Borrower until the date such amount is paid or repaid to Administrative Agent, at (i) the Federal Funds Rate, in the case of such Lender, or (ii) the interest rate applicable at the time to the other Advances made on such date, in the case of Borrower. The failure of any Lender to make any Advance to be made by it hereunder shall not relieve any other Lender of its obligation hereunder, if any, to make its Advance, but no neither Administrative Agent, Documentation Agent, nor any other Lender shall be responsible for the failure of any other such Lender to make any Advance to be made by such other Lender.

Appears in 1 contract

Samples: Credit Agreement (Nuevo Energy Co)

Requests for Advances. Prior to 11:00 a.m. Dallas time, on the date requested by Borrowers for the making of any Advances, Borrowers Borrower must give to Administrative --------------------- Agent written notice, or telephonic notice promptly confirmed in writing, of any requested Advances, which notice must be received by Administrative Agent not later than 10:00 a.m., Dallas, Texas time, on the date of the requested Advances (or three Business Days prior to the date of the requested Advances if Borrower is desires for all or any part of such request, after which Advances to make up a Tranche of Fixed Rate Portions on such date). After receiving any such notice Administrative Agent shall give each Lender prompt notice thereofof the requested Advances. Each such written request or confirmation must be made in the form and substance of the "Request for Advances" attached hereto as Exhibit B, duly completed and signed by an Authorized Officer of Borrowerscompleted. Each such telephonic request shall be deemed a representation, warranty, acknowledgment and agreement by Borrowers Borrower as to the matters which are required to be set out in such written confirmation. If all conditions precedent to such Advances have been met, each Lender will on the date requested promptly remit to Administrative Agent at Administrative Agent's office in favor of Borrowers Dallas, Texas the amount of such Lender's Advance in immediately available funds, and upon receipt of such funds, unless to its actual knowledge any conditions precedent to such Advances have been neither been met nor waived by Lenders as provided herein, Administrative Agent shall promptly make the Advances available to Borrowers in immediately available funds at Agent's office in Dallas, TexasBorrower. Each Request for Advances shall be irrevocable and binding on BorrowersBorrower. Unless Administrative Agent shall have received prompt notice from a Lender that such Lender will not make available to Administrative Agent such Lender's Advance, Administrative Agent may in its discretion assume that such Lender has made such Advance available to Administrative Agent in accordance with this section and Administrative Agent may if it chooses, in reliance upon such assumption, make such Advance available to BorrowersBorrower. If and to the extent such Lender shall not so make its Advance available to Administrative Agent, such Lender and Borrowers Borrower severally agree to pay or repay to Administrative Agent within three days after demand the amount of such Advance together with interest thereon, for each day from the date such amount is made available to Borrowers Borrower until the date such amount is paid or repaid to Administrative Agent, at (i) the Federal Funds Rate, in the case of such Lender, or (ii) the interest rate applicable at the time to the other Advances made on such date, in the case of Borrower. The failure of any Lender to make any Advance to be made by it hereunder shall not relieve any other Lender of its obligation hereunder, if any, to make its Advance, but no neither Administrative Agent, Syndication Agent, Documentation Agent, nor any other Lender shall be responsible for the failure of any other such Lender to make any Advance to be made by such other Lender.

Appears in 1 contract

Samples: Credit Agreement (Nuevo Energy Co)

Requests for Advances. Prior If Borrower desires to receive a Revolving --------------------- Advance, Borrower shall deliver a notice to Agent substantially in the form of Exhibit D no later than 2:00 p.m. (California time) on the second Business Day prior to the date of the proposed Revolving Advance. Each such notice (a "Notice of Revolving Advance") shall be from an Authorized Financial Representative. Agent and Revolving Lenders shall be entitled to rely upon and shall be fully protected under this Agreement in relying upon any Notice of Revolving Advance reasonably believed by Agent to be genuine. Agent shall deliver notice of its receipt of the Notice of Revolving Advance to each Revolving Lender on or before 11:00 a.m. Dallas (California time) on the Business Day prior to the date of the proposed Revolving Advance, and each of the other Revolving Lenders shall wire its Initial Percentage of such Revolving Advance to the Disbursement Account (with notice to Agent that such wire has been made) on or before 11:00 a.m. (California time) on the date requested by Borrowers for of the making proposed Revolving Advance. Upon the close of any Advancesbusiness on the date of the proposed Revolving Advance, Borrowers must give to Agent written notice, or telephonic notice promptly confirmed the funds in writing, of such request, after which Agent the Disbursement Account shall give each Lender prompt notice thereof. Each such written request or confirmation must be made in available to Borrower by the form and substance of bank at which the "Request for Advances" attached hereto as Exhibit BDisbursement Account is held, duly completed and signed by an Authorized Officer of Borrowers. Each unless such telephonic request bank shall be deemed a representation, warranty, acknowledgment and agreement by Borrowers as to the matters which are required to be set out in such written confirmation. If all conditions precedent to such Advances have been met, each Lender will promptly remit instructed by Agent to Agent in favor of Borrowers the amount of such Lender's Advance in immediately available funds, and upon receipt of withhold such funds, unless which instructions Agent may deliver if Agent has determined that Borrower has failed to its actual knowledge any fulfill the applicable conditions precedent set forth in Article IV. All notices delivered pursuant to this Section 2.1(b) shall be delivered by facsimile to the facsimile number set forth in Section 13.12 or to such Advances have neither been met nor waived by Lenders other facsimile number as provided herein, Agent a party hereto shall promptly make the Advances available to Borrowers designate in immediately available funds at Agent's office in Dallas, Texas. Each Request for Advances shall be irrevocable and binding on Borrowers. Unless Agent shall have received prompt notice from a Lender that such Lender will not make available to Agent such Lender's Advance, Agent may in its discretion assume that such Lender has made such Advance available to Agent in accordance with this section and Agent may if it chooses, in reliance upon such assumption, make such Advance available to Borrowers. If and writing pursuant to the extent such Lender shall not so make its Advance available to Agent, such Lender and Borrowers severally agree to pay or repay to Agent within three days after demand the amount provisions of such Advance together with interest thereon, for each day from the date such amount is made available to Borrowers until the date such amount is paid or repaid to Agent, at the interest rate applicable at the time to the other Advances made on such dateSection 13.12. The failure of any Revolving Lender (such Revolving Lender, a "Non-Funding Lender") to make any Revolving Advance to be made by it hereunder on the date specified therefor shall not relieve any other Revolving Lender ("Other Lender") of its obligation hereunder, if any, to make its AdvanceRevolving Advance on such date, but no neither any Other Lender nor Agent shall be responsible for the failure of any other Non-Funding Lender to make any an Advance to be made by such other Non-Funding Lender.

Appears in 1 contract

Samples: Credit Agreement (Beringer Wine Estates Holdings Inc)

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