Common use of Requests for Advances Clause in Contracts

Requests for Advances. Whenever Borrower desires an advance, Borrower shall notify Lender (which notice shall be irrevocable) by telephone, facsimile or in writing, of the desired borrowing. Such notice (the "Notice of Borrowing") shall specify the date of the proposed borrowing, the amount requested, whether the advance shall be a Prime Rate Loan or a LIBOR Rate Loan, and, if a LIBOR Rate Loan, the duration of the initial available Interest Period. Each Notice of Borrowing for advances which are Prime Rate Loans must be received by Lender no later than 1 1:00 a.m., Hartford, Connecticut time on the day such borrowing is requested, and each Notice of Borrowing for advances which are LIBOR Rate Loans must be received by Lender no later than 10:00 a.m., Hartford, Connecticut time at least three (3) Business Days' prior to the day such borrowing is requested. Any Notice of Borrowing that is not in writing shall be followed by a written confirmation by the Borrower, provided that if such written confirmation differs in any respect from the action taken by Lender, the records of Lender shall control, absent manifest error. Lender shall enter each Loan Advance as a debit on a loan account maintained by Borrower with Lender (the "Loan Account"). Lender may also record in the Loan Account, in accordance with customary banking procedures, all fees, accrued and unpaid interest, late fees, usual and customary bank charges for the maintenance and administration of accounts maintained by Borrower and other fees and charges which are properly chargeable to Borrower in connection with the Loan Advances and all payments, subject to collection, made by Borrower on account of or to Lender. Borrower may repay and reborrow advances that are made under this Note, subject, however, to the prepayment terms contained below. Borrower's right to request advances under this Note shall terminate on the Termination Date.

Requests for Advances. Whenever Borrower desires an advance, Borrower shall notify Lender (which notice shall be irrevocable) by telephone, facsimile or in writing, of the desired borrowing. Such notice (the "Notice of Borrowing") shall specify the date of the proposed borrowing, the amount requested, whether the advance shall be a Prime Rate Loan or a LIBOR Rate Loan, and, if a LIBOR Rate Loan, the duration of the initial available Interest Period. Each Notice of Borrowing for advances which are Prime Rate Loans must be received by Lender no later than 1 1:00 a.m., Hartford, Connecticut time on the day such borrowing is requested, and each Notice of Borrowing for advances which are LIBOR Rate Loans must be received by Lender no later than 10:00 a.m., Hartford, Connecticut time at least three (3) Business Days' prior to the day such borrowing is requested. Any Notice of Borrowing that is not in writing shall be followed by a written confirmation by the Borrower, provided that if such written confirmation differs in any respect from the action taken by LenderXxxxxx, the records of Lender shall control, absent manifest error. Lender shall enter each Loan Advance as a debit on a loan account maintained by Borrower with Lender (the "Loan Account"). Lender may also record in the Loan Account, in accordance with customary banking procedures, all fees, accrued and unpaid interest, late fees, usual and customary bank charges for the maintenance and administration of accounts maintained by Borrower and other fees and charges which are properly chargeable to Borrower in connection with the Loan Advances and all payments, subject to collection, made by Borrower on account of or to Lender. Borrower may repay and reborrow advances that are made under this Note, subject, however, to the prepayment terms contained below. Borrower's right to request advances under this Note shall terminate on the Termination Date.terms

Requests for Advances. Whenever Borrower a. Except as set forth below in section 2. b. of this Note, whenever an Obligor desires an advance, Borrower such Obligor shall notify Lender (which notice shall be irrevocable) by telephone, facsimile or in writing, of the desired borrowing. Such notice (the "Notice of Borrowing") shall specify the date of the proposed borrowing, whether such borrowing is to bear interest initially as a LIBOR Rate Loan or a Prime Rate Loan and the amount requested, whether the advance which amount shall be in a Prime Rate Loan or a LIBOR Rate Loan, and, if a LIBOR Rate Loan, the duration minimum amount of the initial available Interest Period$100,000. Each Notice of Borrowing for advances which are Prime Rate Loans must be received by Lender no later than 1 1:00 a.m., Hartford, Connecticut time on the day such borrowing is requested, and each Notice of Borrowing for advances which are LIBOR Rate Loans must be received by Lender no later than 10:00 a.m., Hartford, Connecticut time (a) at least three (3) Business Days' prior to the day such borrowing is requestedrequested if such borrowing is to be a LIBOR Rate Loan or (b) on the day of such borrowing if such borrowing is to be a Prime Rate Loan. Any Notice of Borrowing that is not in writing shall be followed by a written confirmation by the Borrowersuch Obligor, provided that if such written confirmation differs in any respect anx xxxxxct from the action taken by Lender, the records of Lender shall control, absent manifest error. Lender Xxxxer shall enter each Loan Advance as a debit on a loan account maintained by Borrower Obligors with Lender (the "Loan Account"). Lender may also record in the Loan Account, in accordance with customary banking procedures, all fees, accrued and unpaid interest, late fees, usual and customary bank charges for the maintenance and administration of accounts maintained by Borrower Obligors and other fees and charges which are properly chargeable to Borrower Obligors in connection with the Loan Advances and all payments, subject to collection, made by Borrower Obligors on account of or to Lender. Borrower may repay and reborrow advances that are made under this Note, subject, however, to the prepayment terms contained below. Borrower's right to request advances under this Note shall terminate on the Termination Date.

Requests for Advances. Whenever Borrower (1) Except as set forth below in section 2.2 e.(2) of this Agreement, whenever an Obligor desires an advance, Borrower such Obligor shall notify Lender Agent (which notice shall be irrevocable) by telephone, facsimile or in writing, of the desired borrowing. Such notice (the "Notice of Borrowing") shall specify the date of the proposed borrowing, whether such borrowing is to bear interest initially as a LIBOR Rate Loan or a Prime Rate Loan and the amount requested, whether the advance which amount shall be in a Prime Rate Loan or a LIBOR Rate Loan, and, if a LIBOR Rate Loan, the duration minimum amount of the initial available Interest Period$100,000. Each Notice of Borrowing for advances which are Prime Rate Loans must be received by Lender no later than 1 1:00 a.m., Hartford, Connecticut time on the day such borrowing is requested, and each Notice of Borrowing for advances which are LIBOR Rate Loans must be received by Lender Agent no later than 10:00 a.m., Hartford, Connecticut time (a) at least three (3) Business Days' prior to the day such borrowing is requestedrequested if such borrowing is to be a LIBOR Rate Loan or (b) on the day of such borrowing if such borrowing is to be a Prime Rate Loan. Any Notice of Borrowing that is not in writing shall be followed by a written confirmation by the Borrowersuch Obligor, provided that if such written confirmation differs in any respect from the action taken by LenderAgent, the records of Lender Agent shall control, absent manifest error. Obligors shall not have more than four (4) LIBOR Rate Loans under the Revolving Line of Credit outstanding at any one time. Each Revolving Line of Credit Advance shall be made by the Lenders in accordance with their respective Lender's Commitment Percentages up to the maximum principal amount of their respective Revolving Line of Credit Notes. Neither any Lender nor Agent shall be responsible for advancing any amount of any Revolving Line of Credit Advance to be made by any other Lender hereunder. Agent shall enter each Loan Revolving Line of Credit Advance as a debit on a loan account maintained by Borrower Obligors with Lender Agent (the "Loan Account"). Lender Agent may also record in the Loan Account, in accordance with customary banking procedures, all fees, accrued and unpaid interest, late fees, usual and customary bank charges for the maintenance and administration of accounts maintained by Borrower Obligors and other fees and charges which are properly chargeable to Borrower Obligors in connection with the Loan Revolving Line of Credit Advances and all payments, subject to collection, made by Borrower Obligors on account of or to Lender. Borrower may repay and reborrow advances that are made under this Note, subject, however, to the prepayment terms contained below. Borrower's right to request advances under this Note shall terminate on the Termination DateAgent.

Requests for Advances. Whenever Borrower desires an advance, Borrower shall notify Lender (which notice shall be irrevocable) by telephone, facsimile or in writing, of the desired borrowing. Such notice (the "Notice of Borrowing") shall specify the date of the proposed borrowing, the amount requested, whether the advance shall be a Prime Rate Loan or a LIBOR Rate Loan, and, if a LIBOR Rate Loan, the duration of the initial available Interest Period. Each Notice of Borrowing for advances which are Prime Rate Loans must be received by Lender no later than 1 1:00 11:00 a.m., Hartford, Connecticut time on the day such borrowing is requested, and each Notice of Borrowing for advances which are LIBOR Rate Loans must be received by Lender no later than 10:00 a.m., Hartford, Connecticut time at least three (3) Business Days' prior to the day such borrowing is requested. Any Notice of Borrowing that is not in writing shall be followed by a written confirmation by the Borrower, provided that if such written confirmation differs in any respect from the action taken by Lender, the records of Lender shall control, absent manifest error. Lender shall enter each Loan Advance as a debit on a loan account maintained by Borrower with Lender (the "Loan Account"). Lender may also record in the Loan Account, in accordance with customary banking procedures, all fees, accrued and unpaid interest, late fees, usual and customary bank charges for the maintenance and administration of accounts maintained by Borrower and other fees and charges which are properly chargeable to Borrower in connection with the Loan Advances and all payments, subject to collection, made by Borrower on account of or to Lender. Borrower may repay and reborrow advances that are made under this Note, subject, however, to the prepayment terms contained below. Borrower shall not have more than three (3) LIBOR Rate Loans outstanding at any one time. Borrower's right to request advances under this Note shall terminate on the Termination Date. Advances that are LIBOR Rate Loans shall be in the minimum amount of $l00,000 each.