Common use of Making of the Loans Clause in Contracts

Making of the Loans. (a) If the Borrower desires to request a Borrowing it shall give the Agents a written notice in substantially the form set forth on Exhibit B hereto (each, a “Notice of Borrowing”), which Notice of Borrowing shall promptly be sent by the Administrative Agent (i) to each Revolving Lender not later than 2:00 p.m. (New York City time) at least one Business Day prior to the day of the requested Borrowing and (ii) to each Term Lender not later than 2:00 p.m. (New York City time) at least three Business Days prior to the day of the requested Borrowing. (b) Each Notice of Borrowing shall be dated the date the request for the related Borrowing is being made, signed by an Authorized Officer of the Borrower and otherwise be appropriately completed. The proposed Borrowing Date specified in each Notice of Borrowing shall be (i) in the case of the Term Loans, the Initial Borrowing Date and (ii) in the case of the Revolving Loans, a Business Day falling during the Commitment Period. (c) The amount of the Borrowing requested in each Notice of Borrowing (the ““ Requested Amount””) shall be equal to (i) in the case of a Borrowing of Revolving Loans, at least $250,000 and integral multiples of $1,000 in excess thereof (or, if less, the aggregate Undrawn Commitments) and (ii) in the case of a Borrowing of Term Loans, the Total Term Commitment.

Appears in 1 contract

Sources: Credit Agreement (Owl Rock Capital Corp II)

Making of the Loans. (a) If the Borrower desires to request make a Borrowing under this Agreement it shall give the Agents a written notice in substantially the form set forth on Exhibit B hereto (each, a "Notice of Borrowing"), which Notice of Borrowing shall promptly be sent by the Administrative Agent to each applicable Lender, for such Borrowing not later than: (i) to each Revolving Lender not later than 2:00 p.m. (New York City timex) at least one Business Day prior to in the day case of the requested Borrowing and (ii) to each Term Lender not later than 2:00 Syndicated Borrowings, 1:00 p.m. (New York City time) at least three Business Days prior to the day of the requested Borrowing.; and (y) in the case of the Borrowings to be made on the Closing Date, 3:00 p.m. (New York City time) on the Business Day prior to the Closing Date); and (bii) in the case of Swingline Borrowings, 10:00 a.m. (New York City time) on the day of the requested Swingline Borrowing. Each Notice of Borrowing shall be substantially in the form of Exhibit B hereto, dated the date the request for the related Borrowing is being made, signed by an Authorized Officer of the Borrower and otherwise be appropriately completedcompleted (including an indication by the Borrower of the Class or Classes of Loans proposed to be borrowed). The proposed Borrowing Date specified in each Notice of Borrowing shall be (i) in the case of the Term Loans, the Initial Borrowing Date and (ii) in the case of the Revolving Loans, a Business Day falling during the Commitment Period. (c) The amount of the Borrowing requested in each Notice of Borrowing (the ““ Requested Amount””) shall be equal to (i) in the case of a Borrowing of Revolving Loans, at least $250,000 and integral multiples of $1,000 in excess thereof (or, if less, the aggregate Undrawn Commitments) and (ii) in the case of a Borrowing of Term Loans, the Total Term Commitment.be:

Appears in 1 contract

Sources: Credit Agreement (Garrison Capital LLC)