Common use of Whenever the Borrower Clause in Contracts

Whenever the Borrower. desires to borrow under the Revolving Line of Credit, the Borrower shall give the Agent prior to 12:00 noon at least three (3) Business Days' prior notice of each LIBOR Loan and at least one (1) Business Day's prior notice of each Base Rate Loan to be made hereunder, pursuant to a Notice of Borrowing. Each such Notice of Borrowing shall be irrevocable and shall specify (i) the aggregate principal amount of the Revolving Loans to be made pursuant to such Borrowing, and (ii) the requested date of the Borrowing (the "Borrowing Date") (which shall be a Business Day) and shall include an Interest Rate Election Notice. Upon the receipt of such Notice of Borrowing from the Borrower, the Agent shall promptly notify each Lender thereof. Each Lender will make the amount of its Pro Rata Share of each Revolving Loan available to the Agent for the account of the Borrower in the form of an Advance at the office of the Agent in immediately available funds prior to 1:00 p.m. on the Borrowing Date. All wire transfers to the Agent shall be sent to the account described on the Agent's signature page hereto, unless otherwise instructed by the Agent. The proceeds of all such Advances will then be made available by 2:00 p.m. on the Borrowing Date to the Borrower by the Agent at the office of the Agent specified in SECTION 14.4 by crediting the aggregate amount of such Advances to the account of the Borrower on the books of such office or pursuant to other instructions of the Borrower as provided under subsection (c) below. Business Days after the Borrowing Date, such amount so reimbursed shall constitute such Lender's Advance as part of such Revolving Loan for purposes of this Agreement. If such Lender does not make its Advance available to the Agent within three (3) Business Days after the Borrowing Date, the Borrower (to the extent the proceeds of the corresponding Revolving Loan amount have been made available by the Agent, on behalf of such Lender, to the Borrower) agrees to repay to the Agent on demand an amount equal to such defaulted Advance together with interest thereon at the rate applicable to the Revolving Loans disbursed on the Borrowing Date, for each date such amount is made available to the Borrower until such amount is repaid to the Agent. The failure of any Lender to make its required Advance available to the Agent shall not relieve any other Lender of its obligation hereunder to make its Advance on the respective Borrowing Date, or relieve the Lender who failed to make such Advance to subsequently make such Advance, or relieve any Lender (including the Lender who failed to make such Advance) of its obligation, if any, hereunder to make its Advance as part of any subsequent Revolving Loans, but no Lender shall be responsible for the failure of any other Lender to make the Advance of any other Lender as part of any Revolving Loan.