Procedure for Borrowing. (1) Each Borrowing shall be made upon the Borrower Representative’s irrevocable written notice delivered to the Agent in the form of a notice of borrowing (“Notice of Borrowing”), which must be received by the Agent prior to (i) 12:00 noon (Chicago time) three Business Days prior to the requested Funding Date, in the case of Eurodollar Revolving Loans and (ii) 11:00 a.m. (Chicago time) on the requested Funding Date, in the case of CBFR Revolving Loans, specifying: (A) the amount of the Borrowing of a Eurodollar Revolving Loan must equal or exceed $5,000,000 (and increments of $1,000,000 in excess of such amount); (B) the requested Funding Date, which must be a Business Day; (C) whether the Revolving Loans requested are to be CBFR Revolving Loans or Eurodollar Revolving Loans (and if not specified, it shall be deemed a request for a CBFR Revolving Loan); and (D) the duration of the Interest Period for Eurodollar Revolving Loans (and if not specified, it shall be deemed a request for an Interest Period of one month); provided, however, that with respect to the Borrowing to be made on the Closing Date, such Borrowings will consist of CBFR Revolving Loans only. (2) In lieu of delivering a Notice of Borrowing, the Borrower Representative may give the Agent telephonic notice of such request for advances to the Designated Account on or before the deadline set forth above. The Agent at all times shall be entitled to rely on such telephonic notice in making such Revolving Loans, regardless of whether any written confirmation is received. (3) The Borrower Representative shall have no right to request a Eurodollar Revolving Loan while a Default or Event of Default has occurred and is continuing.
Appears in 1 contract
Procedure for Borrowing. (1i) Each Subject to Section 1.1, each Borrowing shall be made upon the Borrower Representativea Borrower’s irrevocable written notice delivered to the Agent in the form of a notice of borrowing (“Notice of Borrowing”), which must be received by the Agent prior to (i) 12:00 noon 10:00 a.m. (Chicago Los Angeles time) three Business Days prior to the requested Funding Date, in the case of Eurodollar Revolving LIBOR Rate Loans and (ii) 11:00 10:00 a.m. (Chicago Los Angeles time) on the requested Funding Date, in the case of CBFR Revolving Base Rate Loans, specifying:
(A1) the amount of the Borrowing Borrowing, which in the case of a Eurodollar Revolving LIBOR Rate Loan must equal or exceed $5,000,000 1,000,000 (and increments of $1,000,000 500,000 in excess of such amount);
(B2) the requested Funding Date, which must be a Business Day;
(C3) whether the Revolving Loans requested are to be CBFR Base Rate Revolving Loans or Eurodollar Revolving LIBOR Rate Loans (and if not specified, it shall be deemed a request for a CBFR Base Rate Revolving Loan); and
(D4) the duration of the Interest Period for Eurodollar Revolving LIBOR Rate Loans (and if not specified, it shall be deemed a request for an Interest Period of one month); provided, however, that with respect to the Borrowing to be made on the Closing Date, such Borrowings will consist of CBFR Revolving Loans only.
(2ii) In lieu of delivering a Notice of Borrowing, the a Borrower Representative may give the Agent telephonic notice of such request for advances to the its Designated Account on or before the deadline set forth above. The Agent at all times shall be entitled to rely on such telephonic notice in making such Revolving Loans, regardless of whether any written confirmation is received.
(3iii) The Borrower Representative Borrowers shall have no right to request a Eurodollar Revolving LIBOR Rate Loan while a Default or Event of Default has occurred and is continuing.
Appears in 1 contract
Procedure for Borrowing. (1) Each Borrowing shall be made upon the Borrower Representative’s Borrowers' irrevocable written notice delivered to the Administrative Agent in the form of a notice of borrowing (“"Notice of Borrowing”"), which must be received by the Administrative Agent prior to (i) 12:00 noon (Chicago Atlanta, Georgia time) three Business Days prior to the requested Funding Date, in the case of Eurodollar LIBOR Revolving Loans Loans, and (ii) 11:00 a.m. 12:00 noon (Chicago Atlanta, Georgia time) on the requested Funding Date, in the case of CBFR Base Rate Revolving Loans, specifying:
(A) the amount of the Borrowing Borrowing, which in the case of a Eurodollar LIBOR Revolving Loan must equal or exceed $5,000,000 10,000,000 (and increments of $1,000,000 in excess of such amount);
(B) the requested Funding Date, which must be a Business Day;
(C) whether the Revolving Loans requested are to be CBFR Base Rate Revolving Loans or Eurodollar LIBOR Revolving Loans (and if not specified, it shall be deemed a request for a CBFR Base Rate Revolving Loan); and
(D) the duration of the Interest Period for Eurodollar LIBOR Revolving Loans (and if not specified, it shall be deemed a request for an Interest Period of one month); provided, however, that with respect to the Borrowing Borrowings to be made during the period commencing on the Closing Date and ending on the seventh day after the Closing Date, such Borrowings will consist of CBFR Base Rate Revolving Loans only.
(2) In lieu of delivering a Notice of Borrowing, the Borrower Representative Borrowers may give the Administrative Agent telephonic notice of such request for advances to the Designated Account on or before the deadline set forth above. The Administrative Agent at all times shall be entitled to rely on such telephonic notice in making such Revolving Loans, regardless of whether any written confirmation is received.
(3) The Borrower Representative Borrowers shall have no right to request a Eurodollar LIBOR Revolving Loan while a Default or Event of Default has occurred and is continuing.
Appears in 1 contract
Sources: Post Petition Credit Agreement (Westpoint Stevens Inc)
Procedure for Borrowing. (1) Each Borrowing shall be made upon the Borrower Representative’s Borrower's irrevocable written notice delivered to the Agent in the form of a notice of borrowing (“"Notice of Borrowing”"), which must be received by the Agent prior to (i) 12:00 noon 11:00 a.m. (Chicago timeCentral Standard Time) three Business Days prior to the requested Funding Date, in the case of Eurodollar LIBOR Revolving Loans and (ii) 11:00 a.m. (Chicago timeCentral Standard Time) on the requested Funding Date, in the case of CBFR Base Rate Revolving Loans, specifying:
(A) the amount of the Borrowing Borrowing, which in the case of a Eurodollar LIBOR Revolving Loan must equal or exceed $5,000,000 2,000,000 (and increments of $1,000,000 500,000 in excess of such amount);
(B) the requested Funding Date, which must be a Business Day;
(C) whether the Revolving Loans requested are to be CBFR Base Rate Revolving Loans or Eurodollar LIBOR Revolving Loans (and if not specified, it shall be deemed a request for a CBFR Base Rate Revolving Loan); and
(D) the duration of the Interest Period for Eurodollar LIBOR Revolving Loans (and if not specified, it shall be deemed a request for an Interest Period of one month); provided, however, that with respect to the Borrowing to be made on the Closing Date, such Borrowings Borrowing will consist of CBFR Base Rate Revolving Loans only.
(2) In lieu of delivering a Notice of Borrowing, the Borrower Representative may give the Agent telephonic notice of such request for advances to the Designated Account on or before the deadline set forth above. The Agent at all times shall be entitled to rely on such telephonic notice in making such Revolving Loans, regardless of whether any written confirmation is received.
(3) The Borrower Representative shall have no right to request a Eurodollar LIBOR Revolving Loan while a Default or Event of Default has occurred and is continuing.
Appears in 1 contract
Procedure for Borrowing. (1i) Each Borrowing shall be made upon the Borrower Representative’s a Borrower's irrevocable written notice delivered to the Agent in the form of a notice of borrowing (“"Notice of Borrowing”"), which must be received by the Agent prior to (i) 12:00 noon 11:00 a.m. (Chicago Los Angeles, California time) three Business Days prior to the requested Funding Date, in the case of Eurodollar Revolving LIBOR Rate Loans and (ii) 11:00 a.m. (Chicago Los Angeles, California time) on the requested Funding Date, in the case of CBFR Revolving Base Rate Loans, specifying:
(A) the amount of the Borrowing Borrowing, which in the case of a Eurodollar Revolving LIBOR Rate Loan must equal or exceed $5,000,000 (and increments of $1,000,000 in excess of such amount);
(B) the requested Funding Date, which must be a Business Day;
(C) whether the Revolving Loans requested are to be CBFR Base Rate Revolving Loans or Eurodollar LIBOR Revolving Loans (and if not specified, it shall be deemed a request for a CBFR Base Rate Revolving Loan); and
(D) the duration of the Interest Period for Eurodollar LIBOR Revolving Loans (and if not specified, it shall be deemed a request for an Interest Period of one month); provided, however, that with respect to the Borrowing to be made on the Closing Date, such Borrowings will consist of CBFR Base Rate Revolving Loans only.
(2ii) In lieu of delivering a Notice of Borrowing, the a Borrower Representative may give the Agent telephonic notice of such request for advances to the Designated Account on or before the deadline set forth above. The Agent at all times shall be entitled to rely on such telephonic notice in making such Revolving Loans, regardless of whether any written confirmation is received.
(3iii) The Borrower Representative shall have no right to While a Default has occurred and is continuing, the Borrowers may request a Eurodollar Revolving Loan while a Default or LIBOR Rate Loan, unless prohibited by Required Lenders.
(iv) While an Event of Default has occurred and is continuing, the Borrowers shall have no right to request a LIBOR Rate Loan.
Appears in 1 contract
Sources: Credit Agreement (Unova Inc)
Procedure for Borrowing. (1) Each Borrowing shall be made upon the Borrower Representative’s Borrowers' irrevocable written notice delivered to the Agent in the form of a notice of borrowing (“"Notice of Borrowing”"), which must be received by the Agent prior to (i) 12:00 noon (Chicago Los Angeles time) three 3 Business Days prior to the requested Funding Date, in the case of Eurodollar Revolving LIBOR Rate Loans and (ii) 11:00 10:00 a.m. (Chicago Los Angeles time) on the requested Funding Date, in the case of CBFR Revolving Base Rate Loans, specifying:
(A) the amount of the Borrowing Borrowing, which in the case of a Eurodollar Revolving LIBOR Rate Loan must equal or exceed $5,000,000 1,000,000 (and increments of $1,000,000 in excess of such amount);
(B) the requested Funding Date, which must be a Business Day;
(C) whether the Revolving Loans requested are to be CBFR Base Rate Revolving Loans or Eurodollar LIBOR Revolving Loans (and if not specified, it shall be deemed a request for a CBFR Base Rate Revolving Loan); and
(D) the duration of the Interest Period for Eurodollar LIBOR Revolving Loans (and if not specified, it shall be deemed a request for an Interest Period of one month); provided, however, that with respect to the Borrowing -------- ------- Borrowings to be made on the Closing Initial Funding Date, such Borrowings Borrowing will consist of CBFR Base Rate Revolving Loans only.
(2) In lieu of delivering a Notice of Borrowing, the Administrative Borrower Representative may give the Agent telephonic notice of such request for advances to the Designated Account on or before the deadline set forth above. The Agent at all times shall be entitled to rely on such telephonic notice in making such Revolving Loans, regardless of whether any written confirmation is received.
(3) The Borrower Representative Borrowers shall not have no a right to request a Eurodollar Revolving LIBOR Rate Loan while a Default or Event of Default has occurred and is continuing.
Appears in 1 contract
Sources: Credit Agreement (Mail Well Inc)
Procedure for Borrowing. (1i) Each Borrowing (other than an L/C Borrowing or Agent Advance) shall be made upon the Borrower Representativea Borrower’s irrevocable written notice delivered to the Agent in the form of a notice of borrowing (“Notice of Borrowing”), which must be received by the Agent prior to (i) 12:00 noon 11:00 a.m. (Chicago New York City time) three Business Days prior to the requested Funding Date, in the case of Eurodollar Revolving LIBOR Loans and (ii) 11:00 a.m. (Chicago New York City time) on the requested Funding Date, in the case of CBFR Revolving Base Rate Loans, specifying:
(A) the amount of the Borrowing Borrowing, which in the case of a Eurodollar Revolving LIBOR Loan must equal or exceed $5,000,000 1,000,000 (and increments of $1,000,000 in excess of such amount);
(B) the requested Funding Date, which must be a Business Day;
(C) whether the Revolving Loans requested are to be CBFR Revolving Base Rate Loans or Eurodollar Revolving LIBOR Loans (and if not specified, it shall be deemed a request for a CBFR Revolving Base Rate Loan); and
(D) the duration of the Interest Period for Eurodollar Revolving LIBOR Loans (and if not specified, it shall be deemed a request for an Interest Period of one month); provided, however, that with respect to the Borrowing to be made on the Closing Effective Date, such Borrowings will consist of CBFR Revolving Base Rate Loans only.
(2ii) In lieu of delivering a Notice of Borrowing, the any Borrower Representative may give the Agent telephonic notice of such request for advances to the Designated Account on or before the deadline set forth above. The Agent at all times shall be entitled to rely on such telephonic notice in making such Revolving Loans, regardless of whether any written confirmation is received.
(3) The Borrower Representative shall have no right to request a Eurodollar Revolving Loan while a Default or Event of Default has occurred and is continuing.
Appears in 1 contract
Procedure for Borrowing. (1) Each Borrowing shall be made upon the Borrower Representative’s Administrative Borrower's irrevocable written notice delivered to the Agent Agent's London office, in the form of a notice of borrowing (“"Notice of Borrowing”"), which must be received by the Agent Agent's London office prior to (iA) 12:00 noon (Chicago Los Angeles time) three Business Days prior to the requested Funding Date, in the case of Eurodollar Revolving LIBOR Rate Loans and (iiB) 11:00 10:00 a.m. (Chicago Los Angeles time) on the requested Funding Date, in the case of CBFR Revolving Base Rate Loans, specifying:
(A) the amount of the Borrowing Borrowing, which in the case of a Eurodollar Revolving LIBOR Rate Loan must equal or exceed $5,000,000 1,000,000 (and increments of $1,000,000 in excess of such amount);
(B) the requested Funding Date, which must be a Business Day;
(C) whether the Revolving Loans requested are to be CBFR Base Rate Revolving Loans or Eurodollar LIBOR Revolving Loans (and if not specified, it shall be deemed a request for a CBFR Base Rate Revolving Loan); and
(D) the duration of the Interest Period for Eurodollar LIBOR Revolving Loans (and if not specified, it shall be deemed a request for an Interest Period of one month); provided, however, that with respect to the Borrowing to be made on the Closing Initial Funding Date, such Borrowings Borrowing will consist of CBFR Revolving Base Rate Loans only.
(2) In lieu of delivering a Notice of Borrowing, the Administrative Borrower Representative may give the Agent Agent's London office telephonic notice of such request for advances to the Designated Account on or before the deadline set forth above. The Agent at all times shall be entitled to rely on such telephonic notice in making such Revolving Loans, regardless of whether any written confirmation is received.
(3) The Borrower Representative Borrowers shall have no right to request a Eurodollar Revolving LIBOR Rate Loan while a Default or Event of Default has occurred and is continuing.
Appears in 1 contract
Sources: Credit Agreement (3com Corp)
Procedure for Borrowing. (1) Each Borrowing shall be made upon the Borrower Representativea Borrower’s irrevocable written notice delivered to the Agent in the form of a notice of borrowing substantially in the form of Exhibit C (“Notice of Borrowing”), which must be received by the Agent prior to (i) 12:00 noon (Chicago Atlanta, Georgia time) three Business Days prior to the requested Funding Date, in the case of Eurodollar Revolving LIBOR Rate Loans and (ii) 11:00 a.m. (Chicago Atlanta, Georgia time) on the requested Funding Date, in the case of CBFR Revolving Base Rate Loans, specifying:
(A) the amount of the Borrowing Borrowing, which in the case of a Eurodollar Revolving LIBOR Rate Loan must equal or exceed $5,000,000 (and increments of $1,000,000 in excess of such amount);
(B) the requested Funding Date, which must be a Business Day;
(C) whether the Revolving Loans requested are to be CBFR Revolving Base Rate Loans or Eurodollar Revolving LIBOR Rate Loans (and if not specified, it shall be deemed a request for a CBFR Revolving Base Rate Loan); and
(D) the duration of the Interest Period for Eurodollar Revolving LIBOR Rate Loans (and if not specified, it shall be deemed a request for an Interest Period of one month); provided, however, that with respect to the Borrowing to be made on the Closing Date, such Borrowings Borrowing will consist of CBFR Revolving Base Rate Loans only.
(2) In lieu of delivering a Notice of Borrowing, the a Borrower Representative may give the Agent telephonic notice of such request for advances to the Designated Account on or before the deadline set forth above. The Agent at all times shall be entitled to rely on such telephonic notice in making such Revolving Loans, regardless of whether any written confirmation is received.
(3) The Borrower Representative Whenever checks are presented to the Bank for payment against any account of an Obligor maintained with the Bank in an amount greater than the then available balance in such accounts, then the Agent may, at its option, treat such presentation as a deemed request for a Base Rate Loan on the date of such presentation in an amount equal to the excess of such checks over such available balances, and such request shall be irrevocable.
(4) At the election of the Agent or the Required Lenders, the Borrowers shall have no right to request a Eurodollar Revolving LIBOR Rate Loan while a Default or Event of Default has occurred and is continuing.
Appears in 1 contract
Procedure for Borrowing. (1i) Each Borrowing shall be made upon the Borrower Representative’s Borrower's irrevocable written notice delivered to the Agent in the form of a notice of borrowing (“"Notice of Borrowing”"), substantially in the form of EXHIBIT D attached hereto and made a part hereof, together with a Borrowing Base Certificate reflecting sufficient Availability, (which must be received by the Agent prior to (i) 12:00 noon (Chicago Chicago, Illinois time) (A) three (3) Business Days prior to the requested Funding Date, in the case of Eurodollar Revolving LIBOR Rate Loans and (iiB) 11:00 a.m. (Chicago time) no later than 12:00 noon on the requested Funding Date, in the case of CBFR Revolving Base Rate Loans, specifying:
(A1) the amount of the Borrowing of a Eurodollar Revolving Loan must equal or exceed $5,000,000 (and increments of $1,000,000 in excess of such amount)Borrowing;
(B2) the requested Funding Date, which must shall be a Business Day;
(C3) whether the Revolving Loans requested are to be CBFR Base Rate Revolving Loans or Eurodollar LIBOR Revolving Loans (and if not specified, it shall be deemed a request for a CBFR Revolving Loan)Loans; and
(D4) the duration of the Interest Period for Eurodollar if the requested Revolving Loans (and if not specifiedare to be LIBOR Revolving Loans. If the Notice of Borrowing fails to specify the duration of the Interest Period for any Borrowing comprised of LIBOR Rate Loans, it such Interest Period shall be deemed a request for an Interest Period of one month); provided, however, that with respect to the Borrowing to be made on the Closing Date, such Borrowings will consist of CBFR Base Rate Revolving Loans only.
(2ii) In With respect to any request for Base Rate Revolving Loans, in lieu of delivering a the above-described Notice of Borrowing, Borrowing the Borrower Representative may give the Agent telephonic notice of such request for advances by the required time, with such telephonic notice to be confirmed in writing including facsimile writing within 24 hours of the Designated Account on or before giving of such notice but the deadline set forth above. The Agent at all times shall be entitled to rely on such the telephonic notice in making such Revolving Loans, regardless of whether any written confirmation is received.
(3) The Borrower Representative shall have no right to request a Eurodollar Revolving Loan while a Default or Event of Default has occurred and is continuing.
Appears in 1 contract
Sources: Loan and Security Agreement (Fruit of the Loom LTD)
Procedure for Borrowing. (1) Each Borrowing shall be made upon the Borrower RepresentativeBorrower’s irrevocable written notice delivered to the Agent in the form of a notice of borrowing (“Notice of Borrowing”), which must be received by the Agent prior to (i) 12:00 noon (Chicago time) three Business Days prior to the requested Funding Date, in the case of Eurodollar Revolving Loans and (ii) 11:00 a.m. (Chicago time) on the requested Funding Date, in the case of CBFR Alternate Base Rate Revolving Loans, specifying:
(A) the amount of the Borrowing of a Eurodollar Revolving Loan must equal or exceed $5,000,000 (and increments of $1,000,000 in excess of such amount);
(B) the requested Funding Date, which must be a Business Day;
(C) whether the Revolving Loans requested are to be CBFR Alternate Base Rate Revolving Loans or Eurodollar Revolving Loans (and if not specified, it shall be deemed a request for a CBFR an Alternate Base Rate Revolving Loan); and
(D) the duration of the Interest Period for Eurodollar Revolving Loans (and if not specified, it shall be deemed a request for an Interest Period of one month); provided, however, that with respect to the Borrowing to be made on the Closing Date, such Borrowings will consist of CBFR Alternate Base Rate Revolving Loans only.
(2) In lieu of delivering a Notice of Borrowing, the Borrower Representative may give the Agent telephonic notice of such request for advances to the Designated Account on or before the deadline set forth above. The Agent at all times shall be entitled to rely on such telephonic notice in making such Revolving Loans, regardless of whether any written confirmation is received.
(3) The Borrower Representative shall have no right to request a Eurodollar Revolving Loan while a Default or Event of Default has occurred and is continuing.
Appears in 1 contract
Procedure for Borrowing. (1i) Each Borrowing shall be made upon the Borrower Representative’s Borrower's irrevocable written notice delivered to the Agent in the form of a notice of borrowing (“"Notice of Borrowing”"), which must be received by the Agent prior to (iA) 12:00 noon (Chicago Eastern time) three (3) Business Days prior to the requested Funding Date, in the case of Eurodollar Revolving LIBOR Rate Loans and (iiB) 11:00 a.m. 12:00 noon (Chicago Eastern time) on the requested Funding Date, in the case of CBFR Revolving Base Rate Loans, specifying:
(A1) the amount of the Borrowing Borrowing, which in the case of a Eurodollar Revolving LIBOR Rate Loan must equal or exceed $5,000,000 1,000,000 (and increments of $1,000,000 500,000 in excess of such amount);
(B2) the requested Funding Date, which must be a Business Day;
(C3) whether the Revolving Loans requested are to be CBFR Base Rate Revolving Loans or Eurodollar LIBOR Revolving Loans (and if not specified, it shall be deemed a request for a CBFR Base Rate Revolving Loan); and
(D4) the duration of the Interest Period for Eurodollar LIBOR Revolving Loans (and if not specified, it shall be deemed a request for an Interest Period of one month); provided, however, that with respect to the Borrowing to be made on the Closing Date, such Borrowings will consist of CBFR Base Rate Revolving Loans only.
(2ii) In lieu of delivering a Notice of Borrowing, the Borrower Representative may give the Agent telephonic notice of such request for advances to the Designated Account on or before the deadline set forth above. The Agent at all times shall be entitled to rely on such telephonic notice in making such Revolving Loans, regardless of whether any written confirmation is received.
(3iii) The Borrower Representative shall have no right to request a Eurodollar Revolving LIBOR Rate Loan while a Default or Event of Default has occurred and is continuingoccurred.
Appears in 1 contract
Sources: Credit Agreement (Weston Roy F Inc)
Procedure for Borrowing. (1i) Each Borrowing of a Term Loan shall be made upon an irrevocable Notice of Borrowing from the Borrower Representative’s irrevocable written notice delivered Borrowers' Agent to the Agent in the form of a notice of borrowing (“Notice of Borrowing”)Lenders' Agent, which notice must be received by the Lenders' Agent prior to not later than (i1) 12:00 noon (noon, Chicago time) , three Business Days prior to the requested Funding Date, Date in the case of Eurodollar Revolving LIBOR Rate Loans and (ii2) 11:00 a.m. (12:00 noon, Chicago time) , on the requested Funding Date, Date in the case of CBFR Revolving Reference Rate Loans, specifying:
(A) that the amount of the Borrowing of requested Loan is a Eurodollar Revolving Loan must equal or exceed $5,000,000 (and increments of $1,000,000 in excess of such amount)Term Loan;
(B) the amount of such Borrowing which, in the case of LIBOR Term Loans, shall be in an amount not less than five hundred thousand dollars ($500,000) and in an integral multiple of one hundred thousand dollars ($100,000) in excess thereof;
(C) the requested Funding Date, which must shall be a Business Day;
(CD) whether the Revolving Term Loans requested are to be CBFR Revolving Reference Rate Term Loans or Eurodollar Revolving LIBOR Term Loans (and if not specified, it shall be deemed a request for a CBFR Revolving Reference Rate Term Loan); and
(DE) the duration of the Interest Period if the requested Term Loans are to be LIBOR Term Loans. If such a Notice of Borrowing fails to specify the duration of the Interest Period for Eurodollar Revolving Loans (and if not specifiedany Borrowing comprised of LIBOR Term Loans, it such Interest Period shall be deemed a request for an Interest Period of one month); provided, however, that with respect to the Borrowing to be made on the Closing Date, such Borrowings will consist of CBFR Revolving Loans only.
(2ii) In lieu After giving effect to any Borrowing (whether in respect of delivering a Notice of Borrowing, the Borrower Representative may give the Agent telephonic notice of such request for advances to the Designated Account on Term Loans or before the deadline set forth above. The Agent at all times shall be entitled to rely on such telephonic notice in making such Revolving Loans), regardless of whether any written confirmation is receivedthere may not be more than five different Interest Periods in effect.
(3) The Borrower Representative shall have no right to request a Eurodollar Revolving Loan while a Default or Event of Default has occurred and is continuing.
Appears in 1 contract
Procedure for Borrowing. (1) Each Borrowing shall be made upon the Borrower Representative’s Borrower's irrevocable written notice delivered to the Agent in the form of a notice of borrowing (“"Notice of Borrowing”"), which must be received by the Agent prior to (i) 12:00 noon (Chicago Los Angeles time) three Business Days prior to the requested Funding Date, in the case of Eurodollar Revolving LIBOR Rate Loans and (ii) 11:00 10:00 a.m. (Chicago Los Angeles time) on the requested Funding Date, in the case of CBFR Revolving Base Rate Loans, specifying:
(A) the amount of the Borrowing Borrowing, which in the case of a Eurodollar Revolving LIBOR Rate Loan must equal or exceed $5,000,000 1,000,000 (and increments of $1,000,000 in excess of such amount);
(B) the requested Funding Date, which must be a Business Day;
(C) whether the Revolving Loans requested are to be CBFR Base Rate Revolving Loans or Eurodollar LIBOR Revolving Loans (and if not specified, it shall be deemed a request for a CBFR Base Rate Revolving Loan); and
(D) the duration of the Interest Period for Eurodollar LIBOR Revolving Loans (and if not specified, it shall be deemed a request for an Interest Period of one month); provided, however, that with respect to the Borrowing to be made on the Closing Initial Funding Date, such Borrowings Borrowing will consist of CBFR Revolving Base Rate Loans only.
(2) In lieu of delivering a Notice of Borrowing, the Borrower Representative may give the Agent telephonic notice of such request for advances to the Designated Account on or before the deadline set forth above. The Agent at all times shall be entitled to rely on such telephonic notice in making such Revolving Loans, regardless of whether any written confirmation is received.
(3) The Borrower Representative shall have no right to request a Eurodollar Revolving LIBOR Rate Loan while a Default or Event of Default has occurred and is continuing.
Appears in 1 contract
Sources: Credit Agreement (3com Corp)
Procedure for Borrowing. (1) Each Borrowing shall be made upon the Borrower Representative’s by an irrevocable written notice request by an Authorized Person delivered to Agent (the Agent in the form of a notice of borrowing (“Notice of BorrowingBorrowing Notice”). With respect to Borrowings constituting Advances, which unless Swing Lender is not obligated to make a Swing Loan pursuant to Section 2.3(b), such Borrowing Notice must be received by Agent no later than 10:00 a.m. (California time) on the Business Day that is the requested Funding Date; provided, however, that if Swing Lender is not obligated to make a Swing Loan as to a requested Borrowing constituting and Advance, such Borrowing Notice must be received by Agent no later than 10:00 a.m. (California time) on the Business Day prior to the date that is the requested Funding Date. With respect to Borrowings constituting Term Loan Draws, the Borrowing Notice must be received by Agent no later than 10:00 a.m. (i) 12:00 noon (Chicago California time) three on the Business Days Day that is 10 days prior to the requested Funding Date. Every Borrowing Notice must specify: (i) the type of Borrowing (Advances or Term Loan Draw), in the case of Eurodollar Revolving Loans and (ii) 11:00 a.m. (Chicago time) on the requested Funding Date, in the case of CBFR Revolving Loans, specifying:
(A) the amount of the Borrowing of a Eurodollar Revolving Loan must equal or exceed $5,000,000 such Borrowing, and (and increments of $1,000,000 in excess of such amount);
(Biii) the requested Funding Date, which must shall be a Business Day;
(C) whether the Revolving Loans requested are to be CBFR Revolving Loans or Eurodollar Revolving Loans (and if not specified. At Agent’s election, it shall be deemed a request for a CBFR Revolving Loan); and
(D) the duration of the Interest Period for Eurodollar Revolving Loans (and if not specified, it shall be deemed a request for an Interest Period of one month); provided, however, that solely with respect to the Borrowing to be made on the Closing DateBorrowings constituting Advances, such Borrowings will consist of CBFR Revolving Loans only.
(2) In in lieu of delivering a Notice of Borrowingthe Borrowing Notice, the Borrower Representative any Authorized Person may give the Agent telephonic notice of such request for advances to by the Designated Account on or before the deadline set forth aboverequired time. The Agent at all times shall be entitled to rely on In such circumstances, Borrowers agree that any such telephonic notice in making will be confirmed with a Borrowing Notice within 24 hours of the giving of such Revolving Loanstelephonic notice, regardless but the failure to provide such Borrowing Notice as confirmation shall not affect the validity of whether any written confirmation is receivedthe request.
(3) The Borrower Representative shall have no right to request a Eurodollar Revolving Loan while a Default or Event of Default has occurred and is continuing.
Appears in 1 contract
Procedure for Borrowing. (1i) Each Borrowing shall be made upon the Borrower Representative’s a Borrower's irrevocable written notice delivered to the Agent in the form of a notice of borrowing (“Notice of Borrowing”"NOTICE OF BORROWING"), which must be received by the Agent prior to (i) 12:00 noon 10:00 a.m. (Chicago Los Angeles time) three Business Days prior to the requested Funding Date, in the case of Eurodollar Revolving LIBOR Rate Loans and (ii) 11:00 10:00 a.m. (Chicago Los Angeles time) on the requested Funding Date, in the case of CBFR Revolving Base Rate Loans, specifying:
(A1) the amount of the Borrowing Borrowing, which in the case of a Eurodollar Revolving LIBOR Rate Loan must equal or exceed $5,000,000 1,000,000 (and increments of $1,000,000 500,000 in excess of such amount);
(B2) the requested Funding Date, which must be a Business Day;
(C3) whether the Revolving Loans requested are to be CBFR Base Rate Revolving Loans or Eurodollar Revolving LIBOR Rate Loans (and if not specified, it shall be deemed a request for a CBFR Base Rate Revolving Loan); and
(D4) the duration of the Interest Period for Eurodollar Revolving LIBOR Rate Loans (and if not specified, it shall be deemed a request for an Interest Period of one month); providedPROVIDED, howeverHOWEVER, that with respect to the Borrowing Borrowings to be made on the Closing Initial Funding Date, such Borrowings will consist of CBFR Base Rate Revolving Loans only.
(2ii) In lieu of delivering a Notice of Borrowing, the a Borrower Representative may give the Agent telephonic notice of such request for advances to the its Designated Account on or before the deadline set forth above. The Agent at all times shall be entitled to rely on such telephonic notice in making such Revolving Loans, regardless of whether any written confirmation is received.
(3iii) The Borrower Representative Borrowers shall have no right to request a Eurodollar Revolving LIBOR Rate Loan while a Default or Event of Default has occurred and is continuing.
Appears in 1 contract
Procedure for Borrowing. (1i) Each Borrowing shall be made upon the Borrower RepresentativeBorrowers’ Agent’s irrevocable written notice delivered to the Administrative Agent in the form of a notice of borrowing (“Notice of Borrowing”), which must be received by the Administrative Agent prior to (i) 12:00 noon (Chicago Atlanta, Georgia time) three two (2) Business Days prior to the requested Funding Date, in the case of Eurodollar Revolving LIBOR Rate Loans and (ii) 11:00 a.m. 12:00 noon (Chicago Atlanta, Georgia time) on the requested Funding Date, in the case of CBFR Revolving Base Rate Loans, specifying:
(A) the amount of the Borrowing Borrowing, which in the case of a Eurodollar Revolving LIBOR Rate Loan must equal or exceed $5,000,000 1,000,000 (and increments of $1,000,000 in excess of such amount);
(B) the requested Funding Date, which must be a Business Day;
(C) whether the Revolving Loans requested are to be CBFR Base Rate Revolving Loans or Eurodollar LIBOR Revolving Loans (and if not specified, it shall be deemed a request for a CBFR Base Rate Revolving Loan); and
(D) the duration of the Interest Period for Eurodollar LIBOR Revolving Loans (and if not specified, it shall be deemed a request for an Interest Period of one month); provided, however, that with respect to the Borrowing Borrowings to be made on the Closing Date, such Borrowings will consist of CBFR Base Rate Revolving Loans onlyor LIBOR Revolving Loans, as the case may be, with respect to loans outstanding on such date under the Existing Credit Agreement.
(2ii) In lieu of delivering a Notice of Borrowing, the Borrower Representative Borrowers’ Agent may give the Administrative Agent telephonic notice of such request for advances to the Designated Account on or before the deadline set forth above. The Administrative Agent at all times shall be entitled to rely on such telephonic notice in making such Revolving Loans, regardless of whether any written confirmation is received.
(3iii) The Borrower Representative Borrowers shall have no right to request a Eurodollar Revolving LIBOR Rate Loan while a Default or Event of Default has occurred and is continuing.
Appears in 1 contract
Sources: Credit Agreement (Kforce Inc)
Procedure for Borrowing. (1) Each Borrowing shall be made upon the Borrower Representative’s irrevocable Administrative Borrower's written notice delivered delivered, on behalf of the Borrowers, to the Agent in the form of a notice of borrowing in the form attached hereto as Exhibit A (“"Notice of Borrowing”"), which must be received by the Agent prior to (i) 12:00 noon 11:00 a.m. (Chicago Atlanta, Georgia time) three (3) Business Days prior to the requested Funding Date, in the case of Eurodollar Revolving LIBOR Rate Loans and (ii) 11:00 a.m. (Chicago Atlanta, Georgia time) on the requested Funding Date, in the case of CBFR Revolving Base Rate Loans, specifying:
(A) the amount of the Borrowing Borrowing, which in the case of a Eurodollar Revolving LIBOR Rate Loan must equal or exceed $5,000,000 (and increments of $1,000,000 in excess of such amount);
(B) the requested Funding Date, which must be a Business Day;
(C) whether the Revolving Loans requested are to be CBFR Revolving Base Rate Loans or Eurodollar Revolving LIBOR Rate Loans (and if not specified, it shall be deemed a request for a CBFR Revolving Base Rate Loan); and
(D) the duration of the Interest Period for Eurodollar Revolving LIBOR Rate Loans (and if not specified, it shall be deemed a request for an Interest Period of one month); provided, however, that with respect to the Borrowing to be made on the Closing Date, such Borrowings will consist of CBFR Revolving Base Rate Loans only.
(2) In lieu of delivering a Notice of Borrowing, the Borrower Representative Administrative Borrower, on behalf of the Borrowers, may give the Agent telephonic notice of such request for advances to the Designated Account on or before the deadline set forth above. The ; provided, that the Administrative Borrower shall promptly deliver written confirmation of such telephonic notice to the Agent; provided, further, that the Agent at all times shall be entitled to rely on such telephonic notice in making such Revolving Loans, regardless of whether any written confirmation is received.
(3) The Borrower Representative Borrowers shall have no right to request a Eurodollar Revolving LIBOR Rate Loan while a Default or Event of Default has occurred and is continuing.
Appears in 1 contract
Sources: Credit Agreement (Salton Inc)
Procedure for Borrowing. (1) Each Borrowing shall be made upon the Borrower RepresentativeLS&Co’s irrevocable written notice (including any electronic medium) delivered to the Agent in the form of a notice of borrowing (“Notice of Borrowing”), which must be received by the Agent prior to (i) 12:00 noon (Chicago Pacific time) three Business Days prior to the requested Funding Date, in the case of Eurodollar LIBOR Rate Revolving Loans and (ii) 11:00 9:00 a.m. (Chicago Pacific time) on the requested Funding Date, in the case of CBFR Base Rate Revolving Loans, specifying:
(A) the Borrower;
(B) the amount of the Borrowing Borrowing, which in the case of a Eurodollar LIBOR Rate Revolving Loan must equal or exceed $5,000,000 10,000,000 (and increments of $1,000,000 in excess of such amount);
(BC) the requested Funding Date, which must be a Business Day;
(CD) whether the Revolving Loans requested are to be CBFR Base Rate Revolving Loans or Eurodollar LIBOR Rate Revolving Loans (and if not specified, it shall be deemed a request for a CBFR Base Rate Revolving Loan); and
(DE) the duration of the Interest Period for Eurodollar LIBOR Rate Revolving Loans (and if not specified, it shall be deemed a request for an Interest Period of one month); provided, however, that with respect to the Borrowing to be made on the Closing Date, such Borrowings will consist of CBFR Revolving Loans only.
(2) In lieu of delivering a Notice of Borrowing, the Borrower Representative LS&Co may give the Agent telephonic notice of such request for advances to the Designated Account on or before the deadline set forth above. The Agent at all times shall be entitled to rely on such telephonic notice in making such Revolving Loans, regardless of whether any written confirmation is received.
(3) The Borrower Representative Without limiting the provisions of Sections 8.2 and 9.2, LS&Co shall have no right to request a Eurodollar LIBOR Rate Revolving Loan while a Default or Event of Default has occurred and is continuing.
Appears in 1 contract
Sources: Credit Agreement (Levi Strauss & Co)
Procedure for Borrowing. (1) Each Borrowing shall be made upon the Borrower Representative’s Borrower's irrevocable written notice delivered to the Administrative Agent in the form of a notice of borrowing (“"Notice of Borrowing”"), which must be received by the Administrative Agent prior to (i) 12:00 noon (Chicago Atlanta, Georgia time) three two (2) Business Days prior to the requested Funding Date, in the case of Eurodollar Revolving LIBOR Rate Loans and (ii) 11:00 a.m. (Chicago Atlanta, Georgia time) on the requested Funding Date, in the case of CBFR Revolving Base Rate Loans, specifying:
(A) the amount of the Borrowing Borrowing, which in the case of a Eurodollar Revolving LIBOR Rate Loan must equal or exceed $5,000,000 2,000,000 (and increments of $1,000,000 in excess of such amount);
(B) the requested Funding Date, which must be a Business Day;
(C) whether the Revolving Loans requested are to be CBFR Base Rate Revolving Loans or Eurodollar LIBOR Revolving Loans (and if not specified, it shall be deemed a request for a CBFR Base Rate Revolving Loan); and
(D) the duration of the Interest Period for Eurodollar LIBOR Revolving Loans (and if not specified, it shall be deemed a request for an Interest Period of one month); provided, however, that with respect to the Borrowing Borrowings to be made on the Closing Date, such Borrowings will consist of CBFR Base Rate Revolving Loans onlyor LIBOR Revolving Loans, as the case may be, with respect to loans outstanding on such date under the Prior Agreement.
(2) In lieu of delivering a Notice of Borrowing, the Borrower Representative may give the Administrative Agent telephonic notice of such request for advances to the Designated Account on or before the deadline set forth above. The Administrative Agent at all times shall be entitled to rely on such telephonic notice in making such Revolving Loans, regardless of whether any written confirmation is received.
(3) The Borrower Representative shall have no right to request a Eurodollar Revolving LIBOR Rate Loan while a Default or Event of Default has occurred and is continuing.
Appears in 1 contract
Sources: Credit Agreement (Kforce Com Inc)
Procedure for Borrowing. (1) Each Borrowing shall be made upon the Borrower Representativea Borrower’s irrevocable written notice delivered to the Agent in the form of a notice of borrowing substantially in the form of Exhibit C (“Notice of Borrowing”), which must be received by the Agent prior to (i) 12:00 noon (Chicago Atlanta, Georgia time) three Business Days prior to the requested Funding Date, in the case of Eurodollar Revolving LIBOR Rate Loans and (ii) 11:00 a.m. (Chicago Atlanta, Georgia time) on the requested Funding Date, in the case of CBFR Revolving Base Rate Loans, specifying:
(A) the amount of the Borrowing Borrowing, which in the case of a Eurodollar Revolving LIBOR Rate Loan must equal or exceed $5,000,000 (and increments of $1,000,000 in excess of such amount);
(B) the requested Funding Date, which must be a Business Day;
(C) whether the Revolving Loans requested are to be CBFR Revolving Base Rate Loans or Eurodollar Revolving LIBOR Rate Loans (and if not specified, it shall be deemed a request for a CBFR Revolving Base Rate Loan); and
(D) the duration of the Interest Period for Eurodollar Revolving LIBOR Rate Loans (and if not specified, it shall be deemed a request for an Interest Period of one month); provided, however, that with respect to the Borrowing to be made on the Closing Date, such Borrowings Borrowing will consist of CBFR Revolving Base Rate Loans only.
(2) In lieu of delivering a Notice of Borrowing, the a Borrower Representative may give the Agent telephonic notice of such request for advances to the Designated Account on or before the deadline set forth aboveabove via telephone or electronic communications in a format acceptable to the Agent. The Agent at all times shall be entitled to rely on such telephonic or electronic notice in making such Revolving Loans, regardless of whether any written confirmation is received.
(3) The Borrower Representative Whenever checks are presented to the Bank for payment against any account of an Obligor maintained with the Bank in an amount greater than the then available balance in such accounts, then the Agent may, at its option, treat such presentation as a deemed request for a Base Rate Loan on the date of such presentation in an amount equal to the excess of such checks over such available balances, and such request shall be irrevocable.
(4) At the election of the Agent or the Required Lenders, the Borrowers shall have no right to request a Eurodollar Revolving LIBOR Rate Loan while a Default or Event of Default has occurred and is continuing.
Appears in 1 contract
Procedure for Borrowing. (1i) Each Borrowing shall be made upon the Borrower Representative’s Borrower's irrevocable written notice delivered to the Agent in the form of a notice of borrowing (“"Notice of Borrowing”), ") together with a Borrowing Base Certificate reflecting sufficient Availability and compliance with clauses (y) and (z) of Section 2.2(a) above (which must be received by the Agent prior to (i) 12:00 noon 11:00 a.m. (Chicago time) (A) three (3) Business Days prior to the requested Funding Date, in the case of Eurodollar Revolving LIBOR Rate Loans and (iiB) no later than 11:00 a.m. (Chicago time) on the requested Funding Date, in the case of CBFR Revolving Base Rate Loans, specifying:
(A1) the amount of the Borrowing of a Eurodollar Revolving Loan must equal or exceed $5,000,000 (and increments of $1,000,000 in excess of such amount)Borrowing;
(B2) the requested Funding Date, which must shall be a Business Day;
(C3) whether the Revolving Loans requested are to be CBFR Base Rate Revolving Loans or Eurodollar LIBOR Revolving Loans (and if not specified, it shall be deemed a request for a CBFR Revolving Loan)Loans; and
(D4) the duration of the Interest Period for Eurodollar if the requested Revolving Loans (and if not specifiedare to be LIBOR Revolving Loans. If the Notice of Borrowing fails to specify the duration of the Interest Period for any Borrowing comprised of LIBOR Rate Loans, it such Interest Period shall be deemed a request for an Interest Period of one month); provided, however, that with respect to the Borrowing to be made on the Closing Date, such Borrowings will consist of CBFR Base Rate Revolving Loans only.
(2ii) In With respect to any request for Base Rate Revolving Loans, in lieu of delivering a the above-described Notice of Borrowing, Borrowing the Borrower Representative may give the Agent telephonic notice of such request for advances by the required time, with such telephonic notice to be confirmed in writing within 24 hours of the Designated Account on or before giving of such notice but the deadline set forth above. The Agent at all times shall be entitled to rely on such the telephonic notice in making such Revolving Loans, regardless of whether any written confirmation is received.
(3) The Borrower Representative shall have no right to request a Eurodollar Revolving Loan while a Default or Event of Default has occurred and is continuing.
Appears in 1 contract
Procedure for Borrowing. (1) Each Borrowing shall be made upon the Borrower RepresentativeBorrower’s irrevocable written notice delivered to the Agent in the form of a notice of borrowing substantially in the form attached hereto as Exhibit D (“Notice of Borrowing”), which must be received by the Agent prior to (i) 12:00 noon (Chicago California time) three Business Days prior to the requested Funding Date, in the case of Eurodollar Revolving LIBOR Rate Loans and (ii) 11:00 10:00 a.m. (Chicago California time) on the requested Funding Date, in the case of CBFR Revolving Base Rate Loans, specifying:
(A) the amount of the Borrowing Borrowing, which in the case of a Eurodollar Revolving LIBOR Rate Loan must equal or exceed $5,000,000 2,000,000 (and increments of $1,000,000 in excess of such amount);
(B) the requested Funding Date, which must be a Business Day;
(C) whether the Revolving Loans requested are to be CBFR Revolving Base Rate Loans or Eurodollar Revolving LIBOR Rate Loans (and if not specified, it shall be deemed a request for a CBFR Revolving Base Rate Loan); and
(D) the duration of the Interest Period for Eurodollar Revolving LIBOR Rate Loans (and if not specified, it shall be deemed a request for an Interest Period of one month); provided, however, that with respect to the Borrowing to be made on the Closing Date, such Borrowings will consist of CBFR Revolving Base Rate Loans only.
(2) In lieu of delivering a Notice of Borrowing, the Borrower Representative may give the Agent telephonic notice of such request for advances to the Designated Account on or before the deadline set forth above. The Agent at all times shall be entitled to rely on such telephonic notice in making such Revolving Loans, regardless of whether any written confirmation is received.
(3) The Borrower Representative shall have no right to request a Eurodollar Revolving LIBOR Rate Loan until the Agent has determined that the primary syndication has been completed or while a Default or Event of Default has occurred and is continuing.
Appears in 1 contract
Procedure for Borrowing. (1i) Each Borrowing shall be made upon the Borrower Representative’s Borrower's irrevocable written notice delivered to the Agent in the form of a notice of borrowing (“"Notice of Borrowing”), ") which must be received by the Agent prior to 11:00 a.m. New York City time (i) 12:00 noon (Chicago time) three Business Days prior to the requested Funding Date, in the case of Eurodollar Revolving Loans LIBOR Rate Loans, and (ii) 11:00 a.m. (Chicago time) on the requested Funding Date, in the case of CBFR Revolving Base Rate Loans, specifying:
(A1) the amount of the Borrowing of a Eurodollar Revolving Loan must equal or exceed $5,000,000 (and increments of Borrowing, which shall be not less than $1,000,000 in excess the case of such amount)a LIBOR Revolving Loan;
(B2) the requested Funding Date, which must shall be a Business Day;
(C3) whether the Revolving Loans requested are to be CBFR Base Rate Revolving Loans or Eurodollar LIBOR Revolving Loans (and if not specified, it shall be deemed a request for a CBFR Revolving Loan)Loans; and
(D4) the duration of the Interest Period for Eurodollar if the requested Revolving Loans (and if not specifiedare to be LIBOR Revolving Loans. If the Notice of Borrowing fails to specify the duration of the Interest Period for any Borrowing comprised of LIBOR Rate Loans, it such Interest Period shall be deemed a request for an Interest Period of one month); provided, however, that with respect to the Borrowing to be made on the Closing Date, such Borrowings will consist of CBFR Base Rate Revolving Loans only.
(2ii) In With respect to any request for Base Rate Revolving Loans, in lieu of delivering a the above-described Notice of Borrowing, Borrowing the Borrower Representative may give the Agent telephonic notice of such request for advances by the required time, with such telephonic notice to be confirmed in writing within 24 hours of the Designated Account on or before giving of such notice but the deadline set forth above. The Agent at all times shall be entitled to rely on such the telephonic notice in making such Revolving Loans, regardless of whether any written confirmation is received.
(3) The Borrower Representative shall have no right to request a Eurodollar Revolving Loan while a Default or Event of Default has occurred and is continuing.
Appears in 1 contract
Sources: Loan and Security Agreement (Revlon Consumer Products Corp)
Procedure for Borrowing. (1) Each Borrowing shall be made upon the Borrower Representative’s by an irrevocable written notice delivered to the Agent in the form of a notice of borrowing (“Notice of Borrowing”)request by an Authorized Person, which must be received by the Agent prior to specifying (i) 12:00 noon the amount of such Borrowing, (Chicago timeii) three Business Days prior whether such Borrowing is to be a Swing Loan, (iii) if such Borrowing is not to be a Swing Loan, whether such Borrowing is to be a LIBOR Rate Loan (including the Interest Period applicable thereto) or a Base Rate Loan, and (iv) the requested Funding Date, delivered to Agent (A), with respect to Borrowings other than Borrowings described in the case of Eurodollar Revolving Loans and subpart (iiB) 11:00 below, no later than 10:00 a.m. (Chicago California time) on the Business Day prior to the date that is the requested Funding Date or (B), with respect to Borrowings for which Borrower has requested a Swing Loan in an amount of $3,000,000 or less, no later than 10:00 a.m. (California time) on the requested Funding Date. At Agent's election, in lieu of delivering the case above-described written request, any Authorized Person may give Agent telephonic notice of CBFR Revolving Loanssuch request by the required time. In such circumstances, specifying:
(A) the amount Borrower agrees that any such telephonic notice will be confirmed in writing within 24 hours of the Borrowing of a Eurodollar Revolving Loan must equal or exceed $5,000,000 (and increments of $1,000,000 in excess giving of such amountnotice and the failure to provide such written confirmation shall not affect the validity of the request. If Swing Lender declines in its sole discretion to make a Swing Loan pursuant to Section 2.3(d);
(B, the terms of Section 2.3(c) the shall apply to such requested Funding DateBorrowing, which must be and any request for a Business Day;
(CBorrowing given pursuant to Section 2.3(a)(ii)(B) whether the Revolving Loans requested are to be CBFR Revolving Loans or Eurodollar Revolving Loans (and if not specified, it shall be deemed a request for a CBFR Revolving Loan); and
(DBorrowing given pursuant to Section 2.3(a)(ii)(A) the duration of the Interest Period for Eurodollar Revolving Loans (and if not specified, it shall be deemed a request for an Interest Period of one month); provided, however, that with respect to the Borrowing to be made on the Closing Date, such Borrowings will consist of CBFR Revolving Loans only.
(2) In lieu of delivering a Notice of Borrowing, the Borrower Representative may give the Agent telephonic notice of date on which such request for advances was delivered to the Designated Account on or before the deadline set forth above. The Agent at all times shall be entitled to rely on such telephonic notice in making such Revolving Loans, regardless of whether any written confirmation is receivedAgent.
(3) The Borrower Representative shall have no right to request a Eurodollar Revolving Loan while a Default or Event of Default has occurred and is continuing.
Appears in 1 contract
Procedure for Borrowing. (1) Each Borrowing shall be made upon the Borrower Representative’s irrevocable Borrower's written notice delivered to the Agent in the form of a notice of borrowing (“"Notice of Borrowing”"), which must be received by the Agent prior to (i) 12:00 noon 11:00 a.m. (Chicago time) (i) three (3) Business Days prior to the requested Funding Date, in the case of Eurodollar Revolving LIBOR Rate Loans and (ii) no later than 11:00 a.m. (Chicago time) on the requested Funding Date, in the case of CBFR Revolving Base Rate Loans, specifying:
(A) the amount of the Borrowing Borrowing, which in the case of a Eurodollar Revolving LIBOR Rate Loan must equal or exceed $5,000,000 1,000,000 (and increments of $1,000,000 250,000 in excess of such amount);
(B) the requested Funding Date, which must be a Business Day;
(C) whether the Revolving Loans requested are to be CBFR Base Rate Revolving Loans or Eurodollar LIBOR Revolving Loans (and if not specified, it shall be deemed a request for a CBFR Base Rate Revolving LoanLoans); and
(D) the duration of the Interest Period for Eurodollar LIBOR Revolving Loans (and if not specified, it shall be deemed a request for an Interest Period of one month); provided, however, that with respect to the Borrowing to be made on the Closing Date, such Borrowings will consist of CBFR Base Rate Revolving Loans only.
(2) In lieu of delivering a Notice of Borrowing, the Borrower Representative may give the Agent telephonic notice of such request by the required time for advances to the Designated Account on or before the deadline set forth aboveAccount. The Agent at all times shall be entitled to rely on such telephonic notice in making such Revolving Loans, regardless of whether any written confirmation is received.
(3) The Borrower Representative shall have no right to request a Eurodollar Revolving Loan LIBOR Rate Loans while a Default or Event of Default has occurred and is continuing.
Appears in 1 contract
Procedure for Borrowing. (1i) Each Borrowing shall be made upon the Borrower Representative’s a Borrower's irrevocable written notice delivered to the Agent in the form of a notice of borrowing (“a "Notice of Borrowing”), ") which must be received by the Agent prior to 11:00 a.m. (i) 12:00 noon (Chicago Dallas, Texas time) (y) three (3) Business Days prior to the requested Funding Date, in the case of Eurodollar Revolving LIBOR Rate Loans and (iiz) no later than 11:00 a.m. (Chicago time) on the requested Funding Date, in the case of CBFR Revolving Base Rate Loans, specifying:
(A) the amount of the Borrowing of (which, if a Eurodollar LIBOR Revolving Loan must equal Loan, shall be in an amount that is not less than $500,000 or exceed $5,000,000 (and increments that is in an integral multiple of $1,000,000 100,000 in excess of such amountthereof);
(B) the requested Funding Date, which must shall be a Business Day;
(C) whether the Revolving Loans requested are to be CBFR Base Rate Revolving Loans or Eurodollar LIBOR Revolving Loans (and if not specified, it shall be deemed a request for a CBFR Revolving Loan)Loans; and
(D) the duration of the Interest Period for Eurodollar if the requested Revolving Loans (and if not specifiedare to be LIBOR Revolving Loans. If the Notice of Borrowing fails to specify the duration of the Interest Period for any Borrowing comprised of LIBOR Rate Loans, it such Interest Period shall be deemed a request for an Interest Period of one month); provided, however, that with respect to the any Borrowing to be made on the Closing DateDate (if any), such Borrowings Borrowing will consist of CBFR Base Rate Revolving Loans onlyLoans.
(2ii) In With respect to any request for Base Rate Revolving Loans, in lieu of delivering a the above-described Notice of Borrowing, the Borrowing a Borrower Representative may give the Agent telephonic notice of such request for advances by the required time, with such telephonic notice to be confirmed in writing within 24 hours of the Designated Account on or before giving of such notice but the deadline set forth above. The Agent at all times shall be entitled to rely on such the telephonic notice in making such Revolving Loans, regardless of whether any written confirmation is received.
(3) The Borrower Representative shall have no right to request a Eurodollar Revolving Loan while a Default or Event of Default has occurred and is continuing.
Appears in 1 contract
Sources: Loan and Security Agreement (Parker Drilling Co /De/)
Procedure for Borrowing. (1) Each Borrowing shall be made upon the Borrower Representative’s 's irrevocable written notice delivered to the Agent in the form of a notice of borrowing (“"Notice of Borrowing”"), which must be received by the Agent prior to (i) 12:00 noon (Chicago Chicago, Illinois time) three Business Days prior to the requested Funding Date, in the case of Eurodollar Revolving LIBOR Rate Loans and (ii) 11:00 a.m. (Chicago Chicago, Illinois time) on the requested Funding Date, in the case of CBFR Revolving Base Rate Loans, specifying:
(A) the amount of the Borrowing Borrowing, which in the case of a Eurodollar Revolving LIBOR Rate Loan must equal or exceed $5,000,000 (and increments of $1,000,000 in excess of such amount);
(B) the requested Funding Date, which must be a Business Day;
(C) whether the Revolving Loans requested are to be CBFR Base Rate Revolving Loans or Eurodollar LIBOR Revolving Loans (and if not specified, it shall be deemed a request for a CBFR Base Rate Revolving Loan); and;
(D) the duration of the Interest Period for Eurodollar LIBOR Revolving Loans (and if not specified, it shall be deemed a request for an Interest Period of one month); provided, however, that with respect to the any Borrowing to be made on the Closing Date, such Borrowings will initially consist of CBFR Base Rate Revolving Loans only.
(2) In lieu of delivering a Notice of Borrowing, the Borrower Representative may give the Agent telephonic notice of such Borrowing request for advances to the Designated Account on or before the deadline set forth aboveAccount(s). The Agent at all times shall be entitled to rely on such telephonic notice in making such Revolving Loans, regardless of whether any written confirmation is received.
(3) The Borrower Representative shall have no right to request a Eurodollar Revolving LIBOR Rate Loan while a Default or an Event of Default has occurred and is continuing.
Appears in 1 contract
Sources: Credit Agreement (Owens Corning)
Procedure for Borrowing. (1) Each Borrowing shall be made upon the Borrower Representative’s 's irrevocable written notice delivered to the Agent in the form of a notice of borrowing (“"Notice of Borrowing”"), which must be received by the Agent prior to (i) 12:00 noon (Chicago New York time) three Business Days prior to the requested Funding Date, in the case of Eurodollar Revolving LIBOR Rate Loans and (ii) 11:00 a.m. (Chicago New York time) on the requested Funding Date, in the case of CBFR Revolving Base Rate Loans, specifying:
(A) the amount of the Borrowing Borrowing, which in the case of a Eurodollar Revolving LIBOR Rate Loan must equal or exceed $5,000,000 (or the then unused portion of the Commitments, if less) (and increments of $1,000,000 in excess of such amount);
(B) the requested Funding Date, which must be a Business Day;
(C) whether the Revolving Loans requested are to be CBFR Base Rate Revolving Loans or Eurodollar LIBOR Revolving Loans (and if not specified, it shall be deemed a request for a CBFR Base Rate Revolving Loan); and;
(D) the duration of the Interest Period for Eurodollar LIBOR Revolving Loans (and if not specified, it shall be deemed a request for an Interest Period of one month); provided, however, that with respect to the any Borrowing to be made on the Closing Date, such Borrowings will initially consist of CBFR Base Rate Revolving Loans only.
(2) In lieu of delivering a Notice of Borrowing, the Borrower Representative may give the Agent telephonic notice of such Borrowing request for advances to the Designated Account on or before the deadline set forth above. The Agent at all times shall be entitled to rely on such telephonic notice in making such Revolving Loans, regardless of whether any written confirmation is received.
(3) The Borrower Representative shall have no right to request a Eurodollar Revolving LIBOR Rate Loan while a Default or an Event of Default has occurred and is continuing.
Appears in 1 contract
Procedure for Borrowing. (1) Each Borrowing shall be made upon the Borrower Representative’s Borrower's irrevocable written notice delivered to the Agent in the form of a notice of borrowing (“"Notice of Borrowing”"), which must be received by the Agent prior to (i) 12:00 noon (Chicago time) three Business Days prior to the requested Funding Date, in the case of Eurodollar Revolving LIBOR Rate Loans and (ii) 11:00 a.m. (Chicago time) on the requested Funding Date, in the case of CBFR Revolving Base Rate Loans, specifying:
(A) the amount of the Borrowing Borrowing, which in the case of a Eurodollar Revolving LIBOR Rate Loan must equal or exceed $5,000,000 1,000,000 (and increments of $1,000,000 100,000 in excess of such amount);
(B) the requested Funding Date, which must be a Business Day;
(C) whether the Revolving Loans requested are to be CBFR Base Rate Revolving Loans or Eurodollar LIBOR Revolving Loans (and if not specified, it shall be deemed a request for a CBFR Base Rate Revolving Loan); and
(D) the duration of the Interest Period for Eurodollar LIBOR Revolving Loans (and if not specified, it shall be deemed a request for an Interest Period of one month); provided, however, that with respect to the Borrowing to be made on the Closing Date, such Borrowings will consist of CBFR Base Rate Revolving Loans only.
(2) In lieu of delivering a Notice of Borrowing, the Borrower Representative may give the Agent telephonic notice of such request for advances to the Designated Account on or before the deadline set forth above. The Agent at all times shall be entitled to rely on such telephonic notice in making such Revolving Loans, regardless of whether any written confirmation is received.
(3) The Borrower Representative shall have no right to request a Eurodollar Revolving LIBOR Rate Loan while a Default or an Event of Default has occurred and is continuing.
Appears in 1 contract
Sources: Credit Agreement (Gfsi Inc)
Procedure for Borrowing. (1) Each Borrowing shall be made upon the Borrower Representative’s ----------------------- ABT's irrevocable written notice delivered to the Agent in the form of a notice of borrowing (“"Notice of Borrowing”"), a form of which is attached hereto as Exhibit "E",(which must be received by the Agent prior to 11:00 a.m. (Los ----------- Angeles, California time) (i) 12:00 noon three (Chicago time3) three Business Days prior to the requested Funding Date, in the case of Eurodollar Revolving LIBOR Rate Loans and (ii) no later than 11:00 a.m. (Chicago time) on the requested Funding Date, in the case of CBFR Revolving Base Rate Loans, specifying:
(A) the amount of the Borrowing of a Eurodollar Revolving Loan must equal or exceed $5,000,000 (and increments of $1,000,000 in excess of such amount)Borrowing;
(B) the requested Funding Date, which must shall be a Business Day;
(C) whether the Revolving Loans requested are to be CBFR Base Rate Revolving Loans or Eurodollar LIBOR Revolving Loans (and if not specified, it shall be deemed a request for a CBFR Revolving Loan)Loans; and
(D) the duration of the Interest Period for Eurodollar if the requested Revolving Loans (and if not specifiedare to be LIBOR Revolving Loans. If the Notice of Borrowing fails to specify the duration of the Interest Period for any Borrowing comprised of LIBOR Rate Loans, it such Interest Period shall be deemed a request for an Interest Period of one month); provided, however, that with respect to the Borrowing to be made on the Closing Date, such Borrowings will consist of CBFR Base Rate Revolving Loans only.
(2) In With respect to any request for Base Rate Revolving Loans, in lieu of delivering a the above-described Notice of Borrowing, the Borrower Representative Borrowing ABT may give the Agent telephonic notice of such request for advances by the required time, with such telephonic notice to be confirmed in writing within 24 hours of the Designated Account on or before giving of such notice but the deadline set forth above. The Agent at all times shall be entitled to rely on such the telephonic notice in making such Revolving Loans, regardless of whether any written confirmation is received.
(3) The Borrower Representative shall have no right to request a Eurodollar Revolving Loan while a Default or Event of Default has occurred and is continuing.
Appears in 1 contract
Procedure for Borrowing. (1i) Each Borrowing shall be made upon the Borrower Representative’s Borrowers’ irrevocable written notice delivered to the Agent Lender in the form of a notice of borrowing (“Notice of Borrowing”), which must be received by the Agent Lender prior to (i) 12:00 noon (Chicago Los Angeles time) three Business Days prior to the requested Funding Date, in the case of Eurodollar Revolving LIBOR Rate Loans and (ii) 11:00 a.m. (Chicago Los Angeles time) on the requested Funding Date, in the case of CBFR Revolving Base Rate Loans, specifying:
(A) A. the amount of the Borrowing Borrowing, which in the case of a Eurodollar Revolving LIBOR Rate Loan must equal or exceed $5,000,000 1,000,000 (and increments of $1,000,000 100,000 in excess of such amount);
(B) B. the requested Funding Date, which must be a Business Day;
(C) C. whether the Revolving Loans requested are to be CBFR Base Rate Revolving Loans or Eurodollar LIBOR Revolving Loans (and if not specified, it shall be deemed a request for a CBFR Base Rate Revolving Loan); and
(D) D. the duration of the Interest Period for Eurodollar LIBOR Revolving Loans (and if not specified, it shall be deemed a request for an Interest Period of one month); provided, however, that with respect to the Borrowing to be made on the Closing Date, such Borrowings will consist of CBFR Base Rate Revolving Loans only.
(2ii) In lieu of delivering a Notice of Borrowing, the Borrower Representative Borrowers may give the Agent Lender telephonic notice of such request for advances to the Designated Account on or before the deadline set forth above. The Agent Lender at all times shall be entitled to rely on such telephonic notice in making such Revolving Loans, regardless of whether any written confirmation is received.
(3iii) The Borrower Representative Borrowers shall have no right to request a Eurodollar Revolving LIBOR Rate Loan while a Default or Event of Default has occurred and is continuing.
Appears in 1 contract
Sources: Credit Agreement (Remedytemp Inc)
Procedure for Borrowing. (1) Each Borrowing shall be made upon the Borrower Representative’s Borrowers' irrevocable written notice delivered to the Agent Lender in the form of a notice of borrowing (“"Notice of Borrowing”"), which must be received by the Agent Lender prior to (i) 12:00 noon (Chicago Los Angeles time) three Business Days prior to the requested Funding Date, in the case of Eurodollar LIBOR Revolving Loans and (ii) 11:00 a.m. (Chicago Los Angeles time) on the requested Funding Date, in the case of CBFR Base Rate Revolving Loans, specifying:
(A) the amount of the Borrowing Borrowing, which in the case of a Eurodollar LIBOR Revolving Loan must equal or exceed $5,000,000 1,000,000 (and increments of $1,000,000 500,000 in excess of such amount);
(B) the requested Funding Date, which must be a Business Day;
(C) whether the Revolving Loans requested are to be CBFR Base Rate Revolving Loans or Eurodollar LIBOR Revolving Loans (and if not specified, it shall be deemed a request for a CBFR Base Rate Revolving Loan); and
(D) the duration of the Interest Period for Eurodollar LIBOR Revolving Loans (and if not specified, it shall be deemed a request for an Interest Period of one month); provided, however, that with respect to the Borrowing to be made on the Closing Date, such Borrowings will consist of CBFR Base Rate Revolving Loans only.
(2) In lieu of delivering a Notice of Borrowing, the Borrower Representative Borrowers may give the Agent Lender telephonic notice of such request for advances Revolving Loans to the Designated Account on or before the deadline set forth above. The Agent Lender at all times shall be entitled to rely on such telephonic notice in making such Revolving Loans, regardless of whether any written confirmation is received.
(3) The Borrower Representative Borrowers shall have no right to request a Eurodollar Revolving Loan while a Default or an Event of Default has occurred and is continuing.
Appears in 1 contract
Procedure for Borrowing. (1) Each Borrowing shall be made upon the Borrower Representative’s Funds Administrator's irrevocable written notice delivered by the Funds Administrator to the Agent in the form of a notice of borrowing (“"Notice of Borrowing”"), which must be received by the Agent prior to (i) 12:00 noon 1:00 p.m. (Chicago Eastern time) three Business Days prior to the requested Funding Date, in the case of Eurodollar Revolving LIBOR Rate Loans and (ii) 11:00 a.m. 12:00 noon (Chicago Eastern time) on the requested Funding Date, in the case of CBFR Revolving Base Rate Loans, specifying:
(A) the amount of the Borrowing Borrowing, which in the case of a Eurodollar Revolving LIBOR Rate Loan must equal or exceed $5,000,000 2,000,000 (and increments of $1,000,000 in excess of such amount);
(B) the requested Funding Date, which must be a Business Day;
(C) whether the Revolving Loans requested are to be CBFR Revolving Base Rate Loans or Eurodollar Revolving LIBOR Rate Loans (and if not specified, it shall be deemed a request for a CBFR Revolving Base Rate Loan); and;
(D) the duration of the Interest Period for Eurodollar Revolving LIBOR Rate Loans (and if not specified, it shall be deemed a request for an Interest Period of one month); and
(E) the applicable Borrower(s) (i.e. Garlock Sealing or the Excess Collateral Providers) on behalf of whi▇▇ ▇▇▇▇ request is made; provided, however, that with respect to the any Borrowing to be made on the Closing Date, such Borrowings will consist of CBFR Revolving Base Rate Loans only.
(2) In lieu of delivering a Notice of Borrowing, the Borrower Representative Funds Administrator may give the Agent telephonic notice of such request for advances to the Designated Account on or before the deadline set forth above. The Agent at all times shall be entitled to rely on such telephonic notice in making such Revolving Loans, regardless of whether any written confirmation is received.
(3) The Borrower Representative Borrowers shall have no right to request a Eurodollar Revolving LIBOR Rate Loan while a Default or Event of Default has occurred and is continuing.
Appears in 1 contract
Procedure for Borrowing. (1) Each Borrowing of Revolving Loans shall be made upon the Borrower Representative’s Borrower's irrevocable written notice delivered to the Agent in the form of a notice of borrowing (“Notice of Borrowing”"NOTICE OF BORROWING"), which must be received by the Agent prior to (i) prior to 12:00 noon (Chicago Dallas, Texas time) three Business Days prior to the requested Funding Date, in the case of Eurodollar Revolving LIBOR Rate Loans and (ii) no later than 11:00 a.m. (Chicago Dallas, Texas time) on the requested Funding Date, in the case of CBFR Revolving Base Rate Loans, specifying:
(A) the amount of the Borrowing of a Eurodollar Revolving Loan Borrowing, which must equal or exceed $5,000,000 500,000 (and increments of $1,000,000 100,000 in excess of such amount);
(B) the requested Funding Date, which must be a Business Day;
(C) whether the Revolving Loans requested are to be CBFR Base Rate Revolving Loans or Eurodollar LIBOR Rate Revolving Loans (and if not specified, it shall be deemed a request for a CBFR Base Rate Revolving Loan); and
(D) the duration of the Interest Period for Eurodollar LIBOR Rate Revolving Loans (and if not specified, it shall be deemed a request for an Interest Period of one month); provided, however, that with respect to the Borrowing Borrowings to be made on the Closing Date, such Borrowings will consist of CBFR Base Rate Revolving Loans only.
(2) In lieu of delivering a Notice of Borrowing, the Borrower Representative may give the Agent telephonic notice of such request by the required time for advances to the Designated Account on or before the deadline set forth aboveAccount. The Agent at all times shall be entitled to rely on such telephonic notice in making such Revolving Loans, regardless of whether any written confirmation is received.
(3) The Borrower Representative shall have no right to request a Eurodollar Revolving LIBOR Rate Loan while a Default or Event of Default has occurred and is continuing.
Appears in 1 contract
Sources: Credit Agreement (Packaged Ice Inc)
Procedure for Borrowing. (1) Each Borrowing shall be made upon the Borrower Representative’s irrevocable Administrative Borrower's written notice delivered delivered, on behalf of the Borrowers, to the Agent in the form of a notice of borrowing in the form attached hereto as Exhibit A (“"Notice of Borrowing”"), which must be received by the Agent prior to (i) 12:00 noon 11:00 a.m. (Chicago New York, New York time) three (3) Business Days prior to the requested Funding Date, in the case of Eurodollar Revolving LIBOR Rate Loans and (ii) 11:00 a.m. (Chicago New York, New York time) on the requested Funding Date, in the case of CBFR Revolving Base Rate Loans, specifying:
(A) the amount of the Borrowing Borrowing, which in the case of a Eurodollar Revolving LIBOR Rate Loan must equal or exceed $5,000,000 (and increments of $1,000,000 in excess of such amount);
(B) the requested Funding Date, which must be a Business Day;
(C) whether the Revolving Loans requested are to be CBFR Revolving Base Rate Loans or Eurodollar Revolving LIBOR Rate Loans (and if not specified, it shall be deemed a request for a CBFR Revolving Base Rate Loan); and
(D) the duration of the Interest Period for Eurodollar Revolving LIBOR Rate Loans (and if not specified, it shall be deemed a request for an Interest Period of one month); provided, however, that with respect to the Borrowing to be made on the Closing Date, such Borrowings will consist of CBFR Revolving Base Rate Loans only.
(2) In lieu of delivering a Notice of Borrowing, the Borrower Representative Administrative Borrower, on behalf of the Borrowers, may give the Agent telephonic notice of such request for advances to the Designated Account on or before the deadline set forth above. The ; provided, that the Administrative Borrower shall promptly deliver written confirmation of such telephonic notice to the Agent; provided, further, that the Agent at all times shall be entitled to rely on such telephonic notice in making such Revolving Loans, regardless of whether any written confirmation is received.
(3) The Borrower Representative Borrowers shall have no right to request a Eurodollar Revolving LIBOR Rate Loan while a Default or Event of Default has occurred and is continuing.
Appears in 1 contract
Sources: Credit Agreement (Salton Inc)