Method of Selecting Types and Interest Periods for New Advances. The Borrower shall select the Type of Advance and, in the case of each Eurodollar Advance, the Interest Period applicable thereto from time to time; provided, however, that in the event Loans are incurred on the date of this Agreement, all Loans incurred on such date shall be Alternate Base Rate Advances. The Borrower shall give the Administrative Agent irrevocable notice (a “Borrowing Notice”) not later than 11:00 a.m. (New York time) on the Borrowing Date of each Alternate Base Rate Advance and at least three (3) Business Days before the Borrowing Date for each Eurodollar Advance, specifying: (a) the Borrowing Date of such Advance, which shall be a Business Day; (b) the aggregate amount of such Advance; (c) the Type of Advance selected; and (d) in the case of each Eurodollar Advance, the Interest Period applicable thereto, which shall end on or prior to the Facility Termination Date. Not later than 1:00 p.m. (New York time) on each Borrowing Date, each Lender shall make available its Loan or Loans, in funds immediately available in New York, to the Administrative Agent at its address specified pursuant to Article XIII. The Administrative Agent will make the funds so received from the Lenders available to the Borrower at the Administrative Agent’s aforesaid address.
Appears in 3 contracts
Sources: Credit Agreement (Aon Corp), Credit Agreement (Aon Corp), Credit Agreement (Aon Corp)
Method of Selecting Types and Interest Periods for New Advances. The Borrower shall select the Type of Advance and, in the case of each Eurodollar Advance, the Interest Period applicable thereto from time to time; provided that there shall be no more than 8 Interest Periods in effect with respect to all of the Loans at any time, unless such limit has been waived by the Agent in its sole discretion; provided, howeverfurther, that no Interest Period for Eurodollar Advances during the "Syndication Period," as defined in the event Loans are incurred definition of Interest Period, shall exceed seven days, and the Interest Periods with respect to such Eurodollar Advances during the Syndication Period shall be required to expire on the date of this Agreement, all Loans incurred on such date shall be Alternate Base Rate Advancessame date. The Borrower shall give the Administrative Agent irrevocable notice (a “"Borrowing Notice”") not later than 11:00 a.m. 12:00 noon (New York Chicago time) on the Borrowing Date of each Alternate Base Floating Rate Advance (other than a Non-Ratable Loan) and at least three (3) Business Days before the Borrowing Date for each Eurodollar Advance, specifying:
(ai) the Borrowing Date of such AdvanceDate, which shall be a Business Day;, of such Advance,
(bii) the aggregate amount of such Advance;,
(ciii) the Type of Advance selected; , and
(div) in the case of each Eurodollar Advance, the Interest Period applicable thereto, which shall end on or prior to the Facility Termination Date. Not later than 1:00 2:00 p.m. (New York Chicago time) on each Borrowing Date, each Lender shall make available its Loan or Loans, Loans in Federal or other funds immediately available in New York, Chicago to the Administrative Agent at its address specified pursuant to Article XIII. The Administrative Agent will promptly make the funds so received from the Lenders available to the Borrower at the Administrative Agent’s 's aforesaid address.
Appears in 2 contracts
Sources: Credit Agreement (Tesoro Trading Co), Credit Agreement (Tesoro Petroleum Corp /New/)
Method of Selecting Types and Interest Periods for New Advances. The Borrower Representative shall select the Type of Advance and, in the case of each Eurodollar Advance, the Interest Period applicable thereto from time to time; provided, however, that in the event Loans are incurred on the date of this Agreement, all Loans incurred on such date shall be Alternate Base Rate Advances. The Borrower Representative shall give the Administrative Agent irrevocable notice (a “Borrowing Notice”) not later than 11:00 a.m. (New York Chicago time) on the Borrowing Date of each Alternate Base Floating Rate Advance (other than a Swing Line Loan) and at least three (3) Business Days before the Borrowing Date for each Eurodollar Advance, specifying:
(a) the Borrower and the Borrowing Date of such AdvanceDate, which shall be a Business Day;, of such Advance,
(b) the aggregate amount of such Advance;,
(c) the Type of Advance selected; , and
(d) in the case of each Eurodollar Advance, the Interest Period applicable thereto. Promptly after receipt by the Agent of a request for an Advance, which the Agent shall end on notify each Lender by fax, or prior to the Facility Termination Dateother similar form of transmission, of such request. Not later than 1:00 2 p.m. (New York Chicago time) on each Borrowing Date, each Lender shall make available its Loan or Loans, Loans in funds immediately available in New York, Chicago to the Administrative Agent at its address specified pursuant to Article XIII. The Administrative Agent will make the funds so received from the Lenders available to the applicable Borrower at in accordance with directions received from the Administrative Agent’s aforesaid addressBorrower Representative.
Appears in 1 contract
Sources: Credit Agreement (Midas Inc)
Method of Selecting Types and Interest Periods for New Advances. The Borrower shall select the Type of Advance and, in the case of each Eurodollar Advance and Transaction Rate Advance, the Interest Period applicable thereto from time to time; provided, however, that in the event Loans are incurred on the date of this Agreement, all Loans incurred on such date shall be Alternate Base Rate Advances. The Borrower shall give the Administrative Agent irrevocable notice (a “"Borrowing Notice”") not later than 11:00 10:00 a.m. (New York Chicago time) on the Borrowing Date of each Alternate Base Floating Rate Advance or Transaction Rate Advance and at least three (3) Business Days before the Borrowing Date for of each Eurodollar Advance, specifying:
(ai) the Borrowing Date of such AdvanceDate, which shall be a Business Day;, of such Advance,
(bii) the aggregate amount of such Advance;,
(ciii) the Type of Advance selected; , and
(div) in the case of each Eurodollar Advance and Transaction Rate Advance, the Interest Period applicable thereto, which . Each Borrowing Notice for a Floating Rate Advance or a Eurodollar Advance shall end on be in writing (or prior to by telephone promptly confirmed in writing) substantially in the Facility Termination Date. form of Exhibit A. Not later than 1:00 p.m. noon (New York Chicago time) on each Borrowing Date, each Lender shall make available its Loan or Loans, Loans in funds immediately available in New York, Chicago to the Administrative Agent at its address specified pursuant to Article XIII. The Administrative Agent will make the funds so received from the Lenders available to the Borrower at the Administrative Agent’s 's aforesaid address.
Appears in 1 contract
Method of Selecting Types and Interest Periods for New Advances. The Borrower shall select the Type of Advance and, in the case of each Eurodollar Advance, the Interest Period applicable thereto from time to time; provided, however, provided that in the event Loans are incurred on the date of this Agreement, all Loans incurred on such date there shall be Alternate Base Rate Advancesno more than 5 Interest Periods in effect with respect to all of the Loans at any time, unless such limit has been waived by the Administrative Agent in its sole discretion. The Borrower shall give the Administrative Agent irrevocable notice (a “"Borrowing Notice”") not later than 11:00 a.m. 2:00 p.m. (New York City time) on at least one Business Day before the Borrowing Date of each Alternate Base Floating Rate Advance and at least three (3) Business Days before the Borrowing Date for each Eurodollar Advance, specifying:
(ai) the Borrowing Date of such AdvanceDate, which shall be a Business Day;, of such Advance,
(bii) the aggregate amount of such Advance;,
(ciii) the Type of Advance selected; , and
(div) in the case of each Eurodollar Advance, the Interest Period applicable thereto, which shall end on or prior to the Facility Termination Date. Not later than 1:00 p.m. (New York City time) on each Borrowing Date, each Lender shall make available its Loan or Loans, Loans in Federal or other funds immediately available in New York, York City to the Administrative Agent at its address specified pursuant to Article XIII. The Administrative Agent will promptly make the funds so received from the Lenders available to the Borrower at the Administrative Agent’s 's aforesaid address.
Appears in 1 contract
Method of Selecting Types and Interest Periods for New Advances. The Borrower shall select the Type of Advance and, in the case of each Eurodollar Advance, the Interest Period applicable thereto from time to time; provided, however, provided that in the event Loans are incurred on the date of this Agreement, all Loans incurred on such date there shall be Alternate Base Rate Advancesno more than 8 Interest Periods in effect with respect to all of the Loans at any time, unless such limit has been waived by the Agent in its sole discretion. The Borrower shall give the Administrative Agent irrevocable notice (a “Borrowing Notice”) not later than 11:00 a.m. 12:00 noon (New York Chicago time) on the Borrowing Date of each Alternate Base Floating Rate Advance (other than a Non-Ratable Loan) and at least three (3) Business Days before the Borrowing Date for each Eurodollar Advance, specifying:
(ai) the Borrowing Date of such AdvanceDate, which shall be a Business Day;, of such Advance,
(bii) the aggregate amount of such Advance;,
(ciii) the Type of Advance selected; , and
(div) in the case of each Eurodollar Advance, the Interest Period applicable thereto, which shall end on or prior to the Facility Termination Date. Not later than 1:00 2:00 p.m. (New York Chicago time) on each Borrowing Date, each Lender shall make available its Loan or Loans, Loans in Federal or other funds immediately available in New York, Chicago to the Administrative Agent at its address specified pursuant to Article XIII. The Administrative Agent will promptly make the funds so received from the Lenders available to the Borrower at the Administrative Agent’s aforesaid address.
Appears in 1 contract
Sources: Credit Agreement (Tesoro Corp /New/)
Method of Selecting Types and Interest Periods for New Advances. The Borrower shall select the Type of Advance and, in the case of each Eurodollar Advance, the Interest Period applicable thereto from time to time; provided, however, that in the event Loans are incurred on the date of this Agreement, all Loans incurred on such date shall be Alternate Base Rate Advances. The Borrower shall give the Administrative Agent irrevocable notice (a “Borrowing Notice”) not later than 11:00 10:00 a.m. (New York time) on at least one Business Day before the Borrowing Date of each Alternate Base Floating Rate Advance (provided that any such notice of a Floating Rate Advance to finance the reimbursement of an LC Disbursement as contemplated by Section 2.21.5 may be given not later than 10:00 a.m., New York time, on the date of the proposed Advance) and at least three (3) Business Days before the Borrowing Date for each Eurodollar Advance, specifying:
(ai) the Borrowing Date of such AdvanceDate, which shall be a Business Day;, of such Advance,
(bii) the aggregate amount of such Advance;,
(ciii) the Type of Advance selected; , and
(div) in the case of each Eurodollar Advance, the Interest Period applicable thereto, which shall end on or prior to the Facility Termination Date. Not later than 1:00 p.m. noon (New York time) on each Borrowing Date, each Lender shall make available its Loan or Loans, Loans in funds immediately available in New York, York to the Administrative Agent at its address specified pursuant to Article XIII. The Administrative Agent will make the funds so received from the Lenders available to the Borrower at the Administrative Agent’s aforesaid address.
Appears in 1 contract
Method of Selecting Types and Interest Periods for New Advances. The Borrower shall select the Type of Advance and, in the case of each Eurodollar Advance, the Interest Period applicable thereto to each Advance from time to time; provided, however, that in the event Loans are incurred on the date of this Agreement, all Loans incurred on such date shall be Alternate Base Rate Advances. The Borrower shall give the Administrative Agent irrevocable telephonic notice (a “Borrowing Notice”) not later than 11:00 a.m. (New York time) on at least one Business Day before the Borrowing Date of each Alternate Base Floating Rate Advance and at least three (3) Business Days before the Borrowing Date for each Eurodollar Advance, such notice to be promptly confirmed in writing substantially in the form of Exhibit A (a “Borrowing/Election Notice”), specifying:
(a) the Borrowing Date of such Advance, which shall be a Business Day;
(b) the aggregate amount of such Advance;
(c) the Type of Advance selected; and;
(d) in the case of each Eurodollar Advance, the Interest Period applicable thereto, which shall end on or prior to the Facility Termination Date; and
(e) the Borrower’s account to which the funds constituting the Advance should be transferred. Not later than 1:00 p.m. (New York time) on each Borrowing Date, each Lender shall make available its Loan or Loans, in funds immediately available in New York, to the Administrative Agent at its address specified pursuant to Article XIII. The Administrative Agent will make the funds so received from the Lenders available to the Borrower at the Administrative Agent’s aforesaid address.
Appears in 1 contract
Sources: Revolving Credit Agreement (Raymond James Financial Inc)