Initial Borrowing Request Sample Clauses

The Initial Borrowing Request clause defines the process and requirements for a borrower to make their first request for funds under a loan agreement. Typically, this clause outlines the information and documentation the borrower must provide, such as the amount requested, the proposed date of borrowing, and confirmation that all conditions precedent have been satisfied. By establishing a clear procedure for the initial drawdown, the clause ensures both parties understand the steps needed to commence the loan, thereby reducing the risk of misunderstandings or delays at the outset of the lending relationship.
Initial Borrowing Request. The Administrative Agent shall have received a Borrowing Request as required by Section 2.03.
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Initial Borrowing Request. To the extent that the outstanding principal amount of the Loans prior to giving effect to this Amendment is less than $47,000,000.00, the New Administrative Agent shall have received a Borrowing Request from the Borrower for a Loan in an amount equal to such deficiency.
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Initial Borrowing Request. The Administrative Agent shall have received a fully-executed Borrowing Request.
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Initial Borrowing Request. The obligation of Bank One ------------------------- to consider the initial Borrowing Request hereunder shall be subject to, in addition to the conditions precedent specified in Section 4.2, delivery to Bank ----------- One of the following (each of the following documents being duly executed and delivered by the Borrower and in form and substance satisfactory to Bank One and, with the exception of the Note, each in a sufficient number of originals that the Borrower and Bank One may have an executed original of each document): (a) This Agreement; (b) the Note; (c) a certificate of the Secretary or Assistant Secretary of the Borrower, dated on or after the date of this Agreement and certifying as to (i) resolutions of the board of directors of the Borrower which authorize the execution and delivery on behalf of the Borrower by certain officers of the Borrower of this Agreement and the Note, (ii) the incumbency of such officers, (iii) the validity of specimen signatures of such officers, and (iv) the articles of incorporation and by-laws of the Borrower as in effect on the date thereof; and (d) such other documents as Bank One may reasonably request at any time at or prior to the Requested Borrowing Date of the initial Borrowing Request hereunder.
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Initial Borrowing Request. The obligation of BOIA to make ------------------------- Advances hereunder shall be subject to, in addition to the conditions precedent specified in Section 4.2, delivery to Bank One Trust Company, N.A. as custodian ----------- for the benefit of BOIA (addressed as follows: Bank One Trust Company, N.A., ▇▇▇ ▇. ▇▇▇▇▇▇▇ Road, Westerville, Ohio 43081, Attention: ▇▇▇▇▇ ▇▇▇▇▇▇), of each of the following (each of the following documents being duly executed and delivered by each of the parties thereto and in form and substance satisfactory to BOIA and, with the exception of the Note, each in a sufficient number of originals that the Borrower and BOIA may have an executed original of each document): (a) this Agreement; (b) the Note; (c) the Security Agreement; (d) the Custody Agreement; (e) the Backup Gestation Agreement; (f) a certificate of the Secretary or Assistant Secretary of the Borrower, dated as of the date of this Agreement and certifying as to (i) resolutions of the board of directors of the Borrower which authorize the execution and delivery on behalf of the Borrower by certain officers of the Borrower of this Agreement, the Note, the Security Agreement and the other Loan Documents to which it is a party, (ii) the incumbency of such officers, (iii) the validity of specimen signatures of such officers, and (iv) the articles of incorporation and by-laws of the Borrower as in effect on the date thereof; (g) a certificate from the Secretary of the Commonwealth of Virginia of a date no earlier than July 1, 1997 as to (i) the good standing of Borrower and (ii) the existence of Borrower; 191 (h) a certificate from the Secretary of the Commonwealth of Pennsylvania of a date no earlier than July 1, 1997 as to (i) the good standing of Borrower and (ii) the authority of Borrower to do business in Pennsylvania; and (i) such other documents as BOIA may reasonably request at any time at or prior to the Requested Borrowing Date of the initial Borrowing Request hereunder, including without limitation, UCC-1 financing statements identifying BOIA as "secured party" and the Borrower as "debtor."
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Initial Borrowing Request. (a) To request Loans on the Effective Date, the Borrower shall notify the Administrative Agent of such request in writing (i) in the case of a Eurocurrency Borrowing, not later than 11:00 a.m., New York City time, three Business Days before the date of the proposed Borrowing or (ii) in the case of an ABR Borrowing, not later than 11:00 a.m., New York City time, on the same day as the proposed Borrowing. Such Borrowing Request shall be irrevocable and in a form approved by the Administrative Agent and signed by the Borrower. Such Borrowing Request shall specify the following information: (i) the aggregate amount of the requested Borrowing; (ii) the date of such Borrowing, which shall be a Business Day; (iii) whether such Borrowing is to be an ABR Borrowing or a Eurocurrency Borrowing; (iv) in the case of a Eurocurrency Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”; and (v) the location and number of the Borrower’s account to which funds are to be disbursed, which shall comply with the requirements of Section 2.04. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be an ABR Borrowing. If no Interest Period is specified with respect to any requested Eurocurrency Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.
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Related to Initial Borrowing Request

  • Borrowing Request The Administrative Agent shall have received a Borrowing Request in accordance with Section 2.03.

  • Initial Borrowing Before or concurrently with the initial Borrowing: (a) The Administrative Agent shall have received the favorable written opinion of L▇▇▇▇▇ & W▇▇▇▇▇▇, counsel to Borrower; (b) The Administrative Agent shall have received copies of the Borrower’s (i) Articles of Incorporation, together with all amendments and (ii) bylaws (or comparable constituent documents) and any amendments thereto, certified in each instance by its Secretary or an Assistant Secretary; (c) The Administrative Agent shall have received copies of resolutions of the Borrower’s Board of Directors authorizing the execution and delivery of the Credit Documents and the consummation of the transactions contemplated thereby together with specimen signatures of the persons authorized to execute such documents on the Borrower’s behalf, all certified in each instance by its Secretary or Assistant Secretary; (d) The Administrative Agent shall have received for each Lender that requests a Note, such Lender’s duly executed Note of the Borrower dated the date hereof and otherwise in compliance with the provisions of Section 2.9(a) hereof; (e) The Administrative Agent shall have received a duly executed counterpart of this Agreement from each of the Lenders and the Borrower; (f) The Administrative Agent shall have received a duly executed Compliance Certificate containing financial information as of March 31, 2009; (g) Except as set forth on Schedule 6.1, neither the Borrower nor any of its Subsidiaries shall have, during the period from March 31, 2009 to the Closing Date, issued, incurred, assumed, created, become liable for, contingently or otherwise, any material Indebtedness other than the issuance of commercial paper consistent with past practices; (h) The Borrower shall have paid to the Administrative Agent for the benefit of each Lender the applicable fees for providing its Commitment under this Agreement; (i) The Borrower shall have delivered the SEC Disclosure Documents which Nicor or the Borrower shall have filed with the Securities and Exchange Commission (or any governmental agency substituted therefore) or any national securities exchange on or after January 1, 2009; (j) The Credit Agreement, dated as of August 11, 2008, among the Borrower, the Administrative Agent and the other financial institutions party thereto has terminated (upon maturity or otherwise) in accordance with its terms; and (k) The Administrative Agent shall have received such other documents and information as it may reasonably request. By executing this Agreement, the Administrative Agent and each of the Lenders agrees that each condition set forth in this Section 6.1 has been satisfied.

  • Borrowing Requests (i) The Borrower may request a Borrowing hereunder by submitting to the Administrative Agent (with a copy to each of the Paying Agent, the Servicer, the Backup Servicer and the Custodian) a written notice, substantially in the form of Exhibit B (each, a “Borrowing Request”) not later than 10:00 a.m. (New York City time) on the second (2nd) Business Day prior to the date of the proposed Borrowing (each, a “Borrowing Date”); provided, that there shall not be more than one (1) Borrowing Date during any calendar week (except as set forth in Section 2.02(e) following delivery of a Funding Delay Notice). Promptly after its receipt thereof, the Administrative Agent shall submit a copy of each Borrowing Request to each Managing Agent who shall promptly forward a copy thereof to the Lenders in its Lender Group. (ii) Each Borrowing Request shall: (A) specify (1) the amount of the requested Borrowing which amount shall be allocated among the Lender Groups based on the respective Conduit Lending Limits of the Conduit Lenders (or Commitments, if there are no Conduit Lenders in a Lender Group) in each Lender Group, (2) the Aggregate Loan Principal Balance after giving effect to such Borrowing, (3) the desired Borrowing Date, and (4) the account of the Borrower to which the proceeds of such Borrowing are to be remitted, (B) certify that, after giving effect to the proposed Borrowing, no Borrowing Base Deficiency would exist and (C) if any Eligible Timeshare Loans are being added to the Collateral in connection with such Borrowing, be accompanied by a duly completed Schedule I to such Borrowing Request which sets forth the required information regarding such Eligible Timeshare Loans.

  • Funding Request The Borrower hereby requests the Funding pursuant to Section 2.1 and Section 2.3 of the Loan Agreement.

  • Content of Borrowing Requests Each telephonic and written Borrowing Request shall specify the following information in compliance with Section 2.02: (i) whether such Borrowing is to be made under the Dollar Commitments or the Multicurrency Commitments; (ii) the aggregate amount and Currency of the requested Borrowing; (iii) the date of such Borrowing, which shall be a Business Day; (iv) in the case of a Syndicated Borrowing denominated in Dollars, whether such Borrowing is to be an ABR Borrowing or a Eurocurrency Borrowing; (v) in the case of a Eurocurrency Borrowing, the Interest Period therefor, which shall be a period contemplated by the definition of the term “Interest Period” and permitted under Section 2.02(d); and (vi) the location and number of the Borrower’s account to which funds are to be disbursed.