Borrowing Mechanics Clause Samples
Borrowing Mechanics. Revolving Loans made on any Funding Date (other than Swing Line Loans, Revolving Loans made pursuant to a request by Swing Line Lender pursuant to subsection 2.1A(ii) or Revolving Loans made pursuant to subsection 3.3B) shall be in an aggregate minimum amount of $5,000,000 and multiples of $1,000,000 in excess of that amount. Swing Line Loans made on any Funding Date shall be in an aggregate minimum amount of $1,000,000 and multiples of $500,000 in excess of that amount. Whenever Company desires that Lenders make Revolving Loans it shall deliver to Administrative Agent a duly executed Notice of Revolving Borrowing no later than 1:00 P.M. (Minneapolis time) at least three Business Days in advance of the proposed Funding Date (in the case of a Eurodollar Rate Loan) or at least one Business Day in advance of the proposed Funding Date (in the case of a Base Rate Loan). Whenever Company desires that Swing Line Lender make a Swing Line Loan, it shall deliver to Administrative Agent a duly executed Notice of Revolving Borrowing no later than 1:00 P.M. (Minneapolis time) on the proposed Funding Date. Revolving Loans may be continued as or converted into Base Rate Loans and Eurodollar Rate Loans in the manner provided in subsection 2.2D. In lieu of delivering a Notice of Revolving Borrowing, Company may give Administrative Agent telephonic notice by the required time of any proposed borrowing under this subsection 2.1B; provided that such notice shall be promptly confirmed in writing by delivery of a duly executed Notice of Revolving Borrowing to Administrative Agent on or before the applicable Funding Date. Neither Administrative Agent nor any Lender shall incur any liability to Company in acting upon any telephonic notice referred to above that Administrative Agent believes in good faith to have been given by an Officer or other person authorized to borrow on behalf of Company or for otherwise acting in good faith under this subsection 2.1B or under subsection 2.2D, and upon funding of Loans by Lenders, and upon conversion or continuation of the applicable basis for determining the interest rate with respect to any Loans pursuant to subsection 2.2D, in each case in accordance with this Agreement, pursuant to any such telephonic notice Company shall have effected Loans or a conversion or continuation, as the case may be, hereunder. Company shall notify Administrative Agent prior to the funding of any Revolving Loans in the event that any of the matters to which Co...
Borrowing Mechanics. (i) Except pursuant to 2.2D, each Borrowing shall at all times be in a minimum amount of $5,000,000 or higher integral multiples of 1,000,000 units of the Applicable Currency.
(ii) Whenever any Credit Party desires that the Lenders make Loans, such Credit Party shall deliver to Administrative Agent on behalf of the Lenders a fully executed and delivered Notice of Borrowing (a) in the case of LIBOR Rate Loans denominated in Dollars, not later than 11:00 a.m. (New York City time), at least three (3) Business Days in advance of the proposed Credit Date; (b) in the case of LIBOR Rate Loans denominated in an Alternative Currency, not later than 11:00 a.m. (New York City time), at least four (4) Business Days in advance of the proposed Credit Date; or (c) in the case of Base Rate Loans, not later than 11:00 a.m. (New York City time), on the proposed Credit Date. Except as otherwise provided herein, a Notice of Borrowing for LIBOR Rate Loans shall be irrevocable on and after the related Interest Rate Determination Date, and the applicable Credit Party shall be bound to borrow such Loans in accordance therewith. Each Notice of Borrowing shall specify the following information:
(a) the Applicable Currency;
(b) the aggregate amount (in the Applicable Currency) of such Loans;
(c) the Credit Date of such Loans, which shall be a Business Day;
(d) whether such Loans are to be Base Rate Loans or LIBOR Rate Loans;
(e) in the case of LIBOR Rate Loans, the initial Interest Period to be applicable thereto; and
(f) the location and number of the Credit Party’s account, as applicable, to which funds are to be disbursed.
(iii) Notice of receipt of each Notice of Borrowing, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by the Administrative Agent to each applicable Lender by facsimile with reasonable promptness, but (provided the Administrative Agent shall have received such notice by 11:00 a.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day as the Administrative Agent’s receipt of such Notice of Borrowing from the applicable Credit Party.
(iv) Each Lender (or, if appropriate, with respect to Alternative Currency Loans, an Affiliate of such Lender) shall make the amount of its Loan available to the Administrative Agent on the applicable Credit Date by wire transfer:
(a) if such Loan is to be made in Dollars, not later than 12:00 p.m. (New York City time)...
Borrowing Mechanics. (i) Each Loan shall be made as part of a Borrowing consisting of Loans of the same Type made by the Lenders proportionately to their respective Pro Rata Shares. At the time each Borrowing is made, such Borrowing shall be in an aggregate minimum amount of $5,000,000 or an integral multiple of $1,000,000 in excess of that amount; provided that a Base Rate Borrowing may be in an aggregate amount that is equal to the entire unused balance of the aggregate Commitments in effect at such time.
(ii) To request a Borrowing, the Borrower shall deliver to the Administrative Agent a fully completed and executed Funding Notice (A) in the case of a Eurodollar Rate Borrowing, not later than 12:00 p.m. (New York City time) three Business Days before the proposed Credit Date or (B) in the case of a Base Rate Borrowing, not later than 12:00 p.m. (New York City time) on the proposed Credit Date. In lieu of delivering a Funding Notice, the Borrower may give the Administrative Agent telephonic notice by the required time of any proposed Borrowing; provided that such telephonic notice shall be promptly confirmed in writing by delivery of a fully completed and executed Funding Notice to the Administrative Agent on or before the close of business on the date that such telephonic notice is given. In the event of any discrepancy between the telephonic notice and the written Funding Notice, the written Funding Notice shall govern. Promptly upon receipt by the Administrative Agent of a Funding Notice in accordance with this paragraph, the Administrative Agent shall notify each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.
(iii) Each Lender shall make the principal amount of each Loan required to be made by it hereunder on any Credit Date available to the Administrative Agent not later than (i) 2:00 p.m. (New York City time) on such Credit Date if the Funding Notice for the applicable Borrowing is delivered less than one Business Day prior to such Credit Date and (ii) 12:00 p.m. (New York City time) on such Credit Date if the Funding Notice for the applicable Borrowing is delivered at least one Business Day prior to the Credit Date, in each case by wire transfer of same day funds in Dollars to the account of the Administrative Agent most recently designated by it for such purpose by notice to the Lenders. The Administrative Agent will make such Loans available to the Borrower by promptly remitting the amounts so re...
Borrowing Mechanics. On any day when a Borrower desires to borrow under this subsection 2.1, Editek, acting as agent for such Borrower, shall give Lender telephonic notice of the proposed borrowing by 11:00 a.m. (Chicago time). Lender shall not incur any liability to Borrowers for acting upon any telephonic notice Lender believes in good faith to have been given by a duly authorized officer or other person authorized to borrow on behalf of a Borrower or for otherwise acting in good faith under this subsection 2.1(D). Lender will not make any advance pursuant to any telephonic notice unless Lender has also received the most recent Borrowing Base Certificates and all other documents required under subsection 5.1(F). Each advance made to a Borrower under the Revolving Loan shall be deposited by wire transfer in immediately available funds in such account of Editek, as agent for each Borrower, as Editek may from time to time designate to Lender in writing, and Editek shall forward the appropriate amount of proceeds of each such advance to or for the benefit of the appropriate Borrower. Unless payment is otherwise timely made by a Borrower, the becoming due of any amount required to be paid under this Agreement or any of the other Loan Documents as principal, accrued interest and fees shall be deemed irrevocably to be a request by such Borrower for a Revolving Loan on the due date of, and in the amount required to pay, such principal, accrued interest and fees, and the proceeds of each such Revolving Loan if made by Lender shall be disbursed by Lender by way of direct payment of the relevant obligation. Anything herein to the contrary notwithstanding, Lender may elect at any time to disburse directly to each Borrower advances of the Revolving Loan that are based upon the Borrowing Base of such Borrower.
Borrowing Mechanics. (a) The Term Loan shall be made in dollars. Subject to Section 2.08, the Term Loan (or any portion thereof) may be comprised of Prime Rate Borrowings or Eurodollar Borrowings as the Borrower may request in accordance herewith; provided that there shall not at any time be more than a total of ten Eurodollar Borrowings outstanding.
(b) Notwithstanding any other provision of this Agreement, the Borrower shall not be entitled to request, or to elect to convert or continue, any Eurodollar Borrowing if the Interest Period requested with respect thereto would end after the Maturity Date.
Borrowing Mechanics. No Loan shall be made hereunder unless each and all of the following conditions precedent have been complied with:
(a) not less than two (2) Business Days before the proposed date of the making of such Loan, the Borrower shall have irrevocably requested to the Lender, by means of the Confirmation, the making of the respective Loan. The execution of the Confirmation by the Borrower shall be considered an irrevocable offer by the Borrower to borrow the amount specified in such Confirmation on the date stated therein;
(b) the Lender shall have agreed to make such Loan, by the execution and return to the Borrower of the Confirmation;
(c) any loans made by the Lender to Compañía Argentina de Granos S.A. prior to the Execution Date have been repaid to the Lender in full;
(d) any financing statements to be made in accordance with the terms of the Assignment Agreement related to such Loan have been duly filed, including without limitation a UCC-1 financing statement, in form and substance satisfactory to the Lender, duly filed in the appropriate registry in Washington, D.C., United States of America;
(e) the Lender shall have received such other documents as it may reasonably request;
(f) both immediately prior to the making of such Loan and after giving effect thereto and to the intended use of the proceeds thereof (i) no Event of Default, and no event which with notice or lapse of time or both would become an Event of Default, shall have occurred and be continuing, and (ii) the representations and warranties made by the Borrower in Section 8 shall be true and complete on and as of the date of the making of such Loan with the same force and effect as if made on and as of such date;
(g) there shall have been no Material Adverse Change;
(h) the Lender shall have received from the Borrower a sworn statement, substantially in the form of Exhibit C hereto, duly executed and completed, through which the Borrower shall represent and warrant to the Lender that it has authorized and entered into a Qualifying Export Agreement, and that it shall exclusively allocate such Qualifying Export Agreement for the benefit of ING to the repayment of the requested Loan (the “Sworn Statement”);
(i) the Lender shall have received a promissory note (▇▇▇▇▇▇) (hereinafter, “Promissory Note”), each substantially in the form of Exhibit B hereto, duly executed and completed by the Borrower evidencing the principal amount and interest of such Loan;
(j) the Lender shall have received from the ...
Borrowing Mechanics. When Debtor desires a Credit Extension, Debtor will notify Secured Party by facsimile or electronic mail (or by telephone, provided that such telephonic notice shall be promptly confirmed in writing). Each Credit Extension shall be in an amount greater than or equal to $250,000 or such lesser amount as may be agreed to by Secured Party in its sole discretion. Secured Party shall make Credit Extensions for costs associated with the purchase of the equipment listed on Schedule 1 attached hereto and incorporated herein or other equipment identified by Debtor from time to time by wire transfer to such account as specified by Debtor at such time as Debtor has complied to the satisfaction of the Secured Party with the conditions precedent set forth in Section 1(b) below.
Borrowing Mechanics. (1) LIBOR Loans made on any Funding Date shall be in an aggregate minimum amount of $500,000 and integral multiples of $100,000 in excess of such amount.
(2) On any day when Borrower desires an advance under this subsection 2.1, Borrower shall give Agent telephonic notice of the proposed borrowing by 11:00 a.
Borrowing Mechanics. 21 2.6 Settlements Among Agent and the Lenders......................
Borrowing Mechanics. 16 (D) Notes..............................................17 (E) Evidence of Revolving Loan Obligations.............17 (F) Letters of Credit..................................17 (G) Other Letter of Credit Provisions..................18 2.2 Interest....................................................20 (A) Rate of Interest...................................20 (B)