Common use of Contract Advances Clause in Contracts

Contract Advances. Subject to Section 2.01, more than one Contract Borrowing may be made on the same Business Day. Each Contract Borrowing shall consist of Contract Advances of the same Type and Interest Period made to the Borrower on the Funding Date, or thereafter continued or converted as Advances of the same Type and for the same Interest Period on the same Business Day, by the Lenders ratably according to their respective Commitments. The Contract Borrowing to be made on the Funding Date shall be made on notice in substantially the form of Exhibit 3.01 hereto (the "Notice of Contract Borrowing"), delivered by the Borrower to the Administrative Agent, by hand or facsimile, not later than 11:00 a.m. (New York City time) (i) in the case of Eurodollar Rate Advances, on the third Business Day prior to the Funding Date and (ii) in the case of Base Rate Advances, on the Funding Date. Upon receipt of the Notice of Contract Borrowing, the Administrative Agent shall notify the Lenders thereof promptly on the day so received. The Notice of Contract Borrowing shall specify therein the requested (A) Funding Date, (B) principal amount and Type of Advances comprising such Borrowing and (C) initial Interest Period for such Advances. The Borrowing to be made on the Funding Date shall be subject to the satisfaction of the conditions precedent thereto as set forth in Article V hereof.

Contract Advances. Subject to Section 2.01, more than one Contract Borrowing may be made on the same Business Day. Each Contract Borrowing shall consist of Contract Advances of the same Type and Interest Period made to the Borrower on the Funding Date, or thereafter continued or converted as Advances of the same Type and for the same Interest Period on the same Business Day, by the Lenders ratably according to their respective Commitments. The Contract Borrowing to be made on the Funding Date shall be made on notice in substantially the form of Exhibit 3.01 hereto (the "Notice of Contract BorrowingNOTICE OF CONTRACT BORROWING"), delivered by the Borrower to the Administrative Agent, by hand or facsimile, not later than 11:00 a.m. (New York City time) (i) in the case of Eurodollar Rate Advances, on the third Business Day prior to the Funding Date and (ii) in the case of Base Rate Advances, on the Funding Date. Upon receipt of the Notice of Contract Borrowing, the Administrative Agent shall notify the Lenders thereof promptly on the day so received. The Notice of Contract Borrowing shall specify therein the requested (A) Funding Date, (B) principal amount and Type of Advances comprising such Borrowing and (C) initial Interest Period for such Advances. The Borrowing to be made on the Funding Date shall be subject to the satisfaction of the conditions precedent thereto as set forth in Article V hereof.