Common use of Acquisition Loan Borrowing Procedure Clause in Contracts

Acquisition Loan Borrowing Procedure. (a) In order to obtain an Acquisition Loan, the Company shall make an irrevocable written request therefor (or, with respect to ABR and Eurodollar Borrowings only, irrevocable telephone notice thereof, confirmed as soon as practicable by written request) in the form of a Request for Borrowing (i) in the case of an ABR Borrowing, to the Agent not later than 11:00 a.m., Houston, Texas time, on the Borrowing Date, (ii) in the case of a Eurodollar Borrowing, to the Agent not later than 11:00 a.m., Houston, Texas time, three (3) Business Days before the Borrowing Date, and (iii) in the case of any Alternative Currency Borrowing, to the Alternative Currency Agent not later than 11:00 a.m., London time, three (3) Business Days before the Borrowing Date. Each Request for Borrowing shall be irrevocable and specify (1) whether the Loan then being requested is to be an ABR, Eurocurrency, Pounds Sterling or a Eurodollar Borrowing, (2) the Borrowing Date (which shall be a Business Day), (3) the aggregate amount thereof, and (4) if a Eurodollar, Eurocurrency or Pounds Sterling Loan is being requested, the Interest Period or Interest Periods with respect thereto. If no election as to the Type of Acquisition Loan Borrowing is specified for Dollar denominated Loans, such Borrowing shall be an ABR Borrowing. If no Interest Period is specified, the Company shall be deemed to have selected an Interest Period of one (1) month’s duration. The Agent shall promptly advise the Lenders of any Request for Borrowing given by the Company pursuant to this Section 3.3 and of each Lender’s portion of the requested Acquisition Loan Borrowing.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Group 1 Automotive Inc), Revolving Credit Agreement (Group 1 Automotive Inc)

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Acquisition Loan Borrowing Procedure. (a) In order to obtain an Acquisition Loan, the Company shall make an irrevocable written request (including via facsimile or email) therefor (or, with respect to ABR and Eurodollar SOFR Borrowings only, irrevocable telephone notice thereof, confirmed as soon as practicable by written request) in the form of a Request for Borrowing (i) in the case of an ABR Borrowing, to the Agent not later than 11:00 a.m., Houston, Texas time, on the Borrowing Date, (ii) in the case of a Eurodollar SOFR Borrowing, to the Agent not later than 11:00 a.m., Houston, Texas time, three (3) Business Days before the Borrowing Date, and (iii) in the case of any Borrowing in an Alternative Currency BorrowingCurrency, to the Alternative Currency Agent not later than 11:00 a.m., London Minneapolis, Minnesota time, three (3) Business Days before the Borrowing Date. Each Request for Borrowing shall be irrevocable and specify (1) whether the Loan then being requested is to be an ABR, Eurocurrency, Pounds Sterling Sterling, Daily SOFR or a Eurodollar Term SOFR Borrowing, (2) the Borrowing Date (which shall be a Business Day), (3) the aggregate amount thereof, thereof and (4) if a Eurodollar, Term SOFR or Eurocurrency or Pounds Sterling Loan is being requested, the Interest Period or Interest Periods with respect thereto. If no election as to the Type of Acquisition Loan Borrowing is specified for Dollar denominated Loans, such Borrowing shall be an ABR Borrowing. If If, with respect to Term SOFR or Eurocurrency Loans, no Interest Period is specified, the Company shall be deemed to have selected an Interest Period of one (1) month’s duration. The Agent shall promptly advise the Lenders of any Request for Borrowing given by the Company pursuant to this Section 3.3 and of each Lender’s portion of the requested Acquisition Loan Borrowing.

Appears in 1 contract

Samples: Revolving Credit Agreement (Group 1 Automotive Inc)

Acquisition Loan Borrowing Procedure. (a) In order to obtain an Acquisition Loan, the Company shall make an irrevocable written request (including via facsimile or email) therefor (or, with respect to ABR and Eurodollar SOFR Borrowings only, irrevocable telephone notice thereof, confirmed as soon as practicable by written request) in the form of a Request for Borrowing (i) in the case of an ABR Borrowing, to the Agent not later than 11:00 a.m., Houston, Texas time, on the Borrowing Date, (ii) in the case of a Eurodollar SOFR Borrowing, to the Agent not later than 11:00 a.m., Houston, Texas time, three (3) Business Days before the Borrowing Date, and (iii) in the case of any Borrowing in an Alternative Currency BorrowingCurrency, to the Alternative Currency Agent not later than 11:00 a.m., London Minneapolis, Minnesota time, three (3) Business Days before the Borrowing Date. Each Request for Borrowing shall be irrevocable and specify (1) whether the Loan then being requested is to be an ABR, Eurocurrency, Pounds Sterling or a Eurodollar Daily SOFR or Term SOFR Borrowing, (2) the Borrowing Date (which shall be a Business Day), (3) the aggregate amount thereof, thereof and (4) if a Eurodollar, Term SOFR or Eurocurrency or Pounds Sterling Loan is being requested, the Interest Period or Interest Periods with respect thereto. If no election as to the Type of Acquisition Loan Borrowing is specified for Dollar denominated Loans, such Borrowing shall be an ABR Borrowing. If If, with respect to Term SOFR or Eurocurrency Loans, no Interest Period is specified, the Company shall be deemed to have selected an Interest Period of one (1) month’s duration. The Agent shall promptly advise the Lenders of any Exhibit 10.45 Request for Borrowing given by the Company pursuant to this Section 3.3 and of each Lender’s portion of the requested Acquisition Loan Borrowing.

Appears in 1 contract

Samples: Revolving Credit Agreement (Group 1 Automotive Inc)

Acquisition Loan Borrowing Procedure. (a) In order to obtain an Acquisition Loan, the Company shall make an irrevocable written request (including via facsimile or email) therefor (or, with respect to ABR and Eurodollar Borrowings only, irrevocable telephone notice thereof, confirmed as soon as practicable by written request) in the form of a Request for Borrowing (i) in the case of an ABR Borrowing, to the Agent not later than 11:00 a.m., Houston, Texas time, on the Borrowing Date, (ii) in the case of a Eurodollar Borrowing, to the Agent not later than 11:00 a.m., Houston, Texas time, three (3) Business Days before the Borrowing Date, and (iii) in the case of any Borrowing in an Alternative Currency BorrowingCurrency, to the Alternative Currency Agent not later than 11:00 a.m., London Minneapolis, Minnesota time, three (3) Business Days before the Borrowing Date. Each Request for Borrowing shall be irrevocable and specify (1) whether the Loan then being requested is to be an ABR, Eurocurrency, Pounds Sterling or a Eurodollar Borrowing, (2) the Borrowing Date (which shall be a Business Day), (3) the aggregate amount thereof, and (4) if a Eurodollar, Eurocurrency or Pounds Sterling Loan is being requested, the Interest Period or Interest Periods with respect thereto. If no election as to the Type of Acquisition Loan Borrowing is specified for Dollar denominated Loans, such Borrowing shall be an ABR Borrowing. If no Interest Period is specified, the Company shall be deemed to have selected an Interest Period of one (1) month’s duration. The Agent shall promptly advise the Lenders of any Request for Borrowing given by the Company pursuant to this Section 3.3 and of each Lender’s portion of the requested Acquisition Loan Borrowing.

Appears in 1 contract

Samples: Revolving Credit Agreement (Group 1 Automotive Inc)

Acquisition Loan Borrowing Procedure. (a) In order to obtain an Acquisition Loan, the Company shall make an irrevocable written request therefor (or, with respect to ABR and Eurodollar Borrowings only, or irrevocable telephone notice thereof, confirmed as soon as practicable by written request) in the form of a Request for Borrowing (i) in the case of an ABR Borrowing, to the Agent not later than 11:00 a.m., Houston, Texas time, on the Borrowing Date, (ii) in the case of a Eurodollar Borrowing, to the Agent not later than 11:00 a.m., Houston, Texas time, three (3) Business Days before the Borrowing Date, and (iii) in the case of any Alternative Currency Borrowing, to the Alternative Currency Agent not later than 11:00 a.m., London time, three (3) Business Days before the Borrowing Date. Each Request for Loan Borrowing shall be irrevocable and specify (1) whether the Loan then being requested is to be an ABR, Eurocurrency, Pounds Sterling or a Eurodollar Borrowing, (2) the Borrowing Date (which shall be a Business Day), (3) the aggregate amount thereof, and (4) if a Eurodollar, Eurocurrency or Pounds Sterling Loan is being requested, the Interest Period or Interest Periods with respect thereto. If no election as to the Type of Acquisition Loan Borrowing is specified for Dollar denominated Loans, such Borrowing shall be an ABR Borrowing. If no Interest Period is specified, the Company shall be deemed to have selected an Interest Period of one (1) month’s duration. The Agent shall promptly advise the Lenders of any Request for Borrowing given by the Company pursuant to this Section 3.3 and of each Lender’s portion of the requested Acquisition Loan Borrowing.

Appears in 1 contract

Samples: Revolving Credit Agreement (Group 1 Automotive Inc)

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Acquisition Loan Borrowing Procedure. (a) In order to obtain an Acquisition Loan, the Company shall make an irrevocable written request therefor (or, with respect to ABR and Eurodollar Borrowings only, or irrevocable telephone notice thereof, confirmed as soon as practicable by written request) to the Agent, in the form of a Request for Borrowing (i) in the case of an ABR Borrowing, to the Agent not later than 11:00 a.m., Houston, Texas time, on the Borrowing DateDate of a proposed Acquisition Loan Borrowing, and (ii) in the case of a Eurodollar Borrowing, to the Agent not later than 11:00 a.m., Houston, Texas time, three (3) Business Days before the Borrowing Date, and (iii) in the case Date of any Alternative Currency a proposed Acquisition Loan Borrowing, to the Alternative Currency Agent not later than 11:00 a.m., London time, three (3) Business Days before the Borrowing Date. Each Request for Loan Borrowing shall be irrevocable and specify (1) whether the Loan then being requested is to be an ABR, Eurocurrency, Pounds Sterling ABR Borrowing or a Eurodollar Borrowing, (2) the Borrowing Date (which shall be a Business Day), ) and (3) the aggregate amount thereof, thereof and (4) if a Eurodollar, Eurocurrency or Pounds Sterling Eurodollar Loan is being requested, the Interest Period or Interest Periods with respect thereto. If no election as to the Type of Acquisition Loan Borrowing is specified for Dollar denominated Loansspecified, such Borrowing shall be an ABR Borrowing. If no Interest Period is specified, the Company shall be deemed to have selected an Interest Period of one (1) month’s duration. The Agent shall promptly advise the Lenders of any Request for Borrowing given by the Company pursuant to this Section 3.3 and of each Lender’s portion of the requested Acquisition Loan Borrowing.

Appears in 1 contract

Samples: Revolving Credit Agreement (Group 1 Automotive Inc)

Acquisition Loan Borrowing Procedure. (a) In order to obtain an Acquisition Loan, the Company shall make an irrevocable written request therefor (or, with respect to ABR and Eurodollar Borrowings only, irrevocable telephone notice thereof, confirmed as soon as practicable by written request) in the form of a Request for Borrowing (i) in the case of an ABR Borrowing, to the Agent not later than 11:00 a.m., Houston, Texas time, on the Borrowing Date, (ii) in the case of a Eurodollar Borrowing, to the Agent not later than 11:00 a.m., Houston, Texas time, three (3) Business Days before the Borrowing Date, and (iii) in the case of any Borrowing in an Alternative Currency BorrowingCurrency, to the Alternative Currency Agent not later than 11:00 a.m., London time, three (3) Business Days before the Borrowing Date. Each Request for Borrowing shall be irrevocable and specify (1) whether the Loan then being requested is to be an ABR, Eurocurrency, Pounds Sterling or a Eurodollar Borrowing, (2) the Borrowing Date (which shall be a Business Day), (3) the aggregate amount thereof, and (4) if a Eurodollar, Eurocurrency or Pounds Sterling Loan is being requested, the Interest Period or Interest Periods with respect thereto. If no election as to the Type of Acquisition Loan Borrowing is specified for Dollar denominated Loans, such Borrowing shall be an ABR Borrowing. If no Interest Period is specified, the Company shall be deemed to have selected an Interest Period of one (1) month’s duration. The Agent shall promptly advise the Lenders of any Request for Borrowing given by the Company pursuant to this Section 3.3 and of each Lender’s portion of the requested Acquisition Loan Borrowing.

Appears in 1 contract

Samples: Revolving Credit Agreement (Group 1 Automotive Inc)

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