Borrowings by Designated Borrowers. (a) The Company may, at any time or from time to time, upon not less than 10 Business Day’s notice to the Administrative Agent, designate one or more Subsidiaries organized in any of the jurisdictions listed on Schedule III as Borrowers hereunder. Upon any such designation of a Subsidiary and the Administrative Agent’s receipt of each of the following (copies of which will be promptly furnished by the Administrative Agent to the Lenders), which shall be in form and substance reasonably satisfactory to the Administrative Agent, such Subsidiary shall be a Designated Borrower and a Borrower entitled to make Borrowings on and subject to the terms and conditions of this Agreement:
Appears in 2 contracts
Sources: 364 Day Credit Agreement (Stanley Works), Credit Agreement (Stanley Works)
Borrowings by Designated Borrowers. (a) The Company may, at any time or from time to time, upon not less than 10 Business Day’s 's notice to the Administrative Agent, designate one or more Subsidiaries organized in any of the jurisdictions listed on Schedule III as Borrowers hereunder. Upon any such designation of a Subsidiary and the Administrative Agent’s 's receipt of each of the following (copies of which will be promptly furnished by the Administrative Agent to the Lenders), which shall be in form and substance reasonably satisfactory to the Administrative Agent, such Subsidiary shall be a Designated Borrower and a Borrower entitled to make Borrowings on and subject to the terms and conditions of this Agreement:
Appears in 1 contract
Sources: Credit Agreement (Stanley Works)