Common use of Time for Requests Clause in Contracts

Time for Requests. Borrower shall submit a Request for each (i) Acquisition Advance of less than $12,000,000 and Corporate Advance not later than 11:00 a.m. on the Business Day which is the date such Revolving Advance is to be made, and (ii) Acquisition Advance equal to or in excess of $12,000,000, not later than at least twenty (20) days before the date such requested Revolving Advance is to be made. Each such Request shall be effective upon receipt by Bank, shall be in writing signed by two (2) Authorized Representatives of Borrower or persons whom Bank reasonably believes to be an Authorized Representative of Borrower, and shall specify whether the requested Revolving Advance shall be an Acquisition Advance or a Corporate Advance. Bank may, in its sole discretion, accept and honor telephonic or electronic (including facsimile) requests for Revolving Advances, and if Bank does accept and honor any telephonic or electronic request, it may require written confirmation thereof from Borrower. Borrower shall repay all Revolving Advances even if Bank does not receive such confirmation and even if the person requesting a Revolving Advance was not in fact authorized to do so. Any request for a Revolving Advance, whether written or telephonic, shall be deemed to be a representation by Borrower that the applicable conditions set forth in Article V have been satisfied as of the time of the request.

Time for Requests. Borrower shall submit a Request to Administrative Agent for each (i) Acquisition Revolving Advance of less than $12,000,000 and Corporate Advance 5,000,000 not later than 11:00 a.m. on the Business Day which is the date such Revolving Advance is to be made, and (ii) Acquisition Revolving Advance equal to or in excess of $12,000,0005,000,000, not later than at least twenty (20) days before the date such requested Revolving Advance is to be made. Each such Request shall be effective upon receipt by BankAdministrative Agent, shall be in writing signed by two (2) Authorized Representatives of Borrower or persons whom Bank Administrative Agent reasonably believes to be an Authorized Representative of Borrower, and shall specify whether the requested Revolving Advance shall be an Acquisition Advance or a Corporate Advance. Bank Administrative Agent may, in its sole discretion, accept and honor telephonic or electronic (including facsimile) requests for Revolving Advances, and if Bank Administrative Agent does accept and honor any telephonic or electronic request, it may require written confirmation thereof from Borrower. Following receipt of a Request, Administrative Agent shall promptly notify each Bank of its Pro Rata Share of the Revolving Advances. Borrower shall repay all Revolving Advances even if Bank Administrative Agent does not receive such confirmation and even if the person requesting a Revolving Advance was not in fact authorized to do so. Any request for a Revolving Advance, whether written or telephonic, shall be deemed to be a representation by Borrower that the applicable conditions set forth in Article V have been satisfied as of the time of the request.