Additional Alternate Currencies. (a) The Borrower may from time to time request that Revolving Credit Loans be made and/or Letters of Credit be issued in a currency other than those specifically listed in the definition of “Alternate Currency”; provided that such requested currency is a lawful currency (other than Dollars) that is readily available and freely transferable and convertible into Dollars. In the case of any such request with respect to the making of Revolving Credit Loans, such request shall be subject to the approval of the Administrative Agent and each of the Revolving Credit Lenders; and in the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Administrative Agent and the applicable L/C Issuer. (b) Any such request shall be made in writing to the Administrative Agent not later than 11:00 a.m., ten (10) Business Days prior to the date of the desired Credit Extension (or such other time or date as may be agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the relevant L/C Issuer in its reasonable discretion). In the case of any such request pertaining to Revolving Credit Loans, the Administrative Agent shall promptly notify each Revolving Credit Lender of the applicable Class thereof, and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the relevant L/C Issuer thereof. Each such Revolving Credit Lender (in the case of any such request pertaining to Revolving Credit Loans) and the relevant L/C Issuer (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m., five (5) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Credit Loans or the issuance of Letters of Credit, in such requested currency. (c) Any failure by a Revolving Credit Lender or the relevant L/C Issuer to respond to such request within the time period specified in the preceding paragraph (b) shall be deemed to be a refusal by such Revolving Credit Lender or L/C Issuer, as the case may be, to permit Revolving Credit Loans to be made or Letters of Credit, as applicable, to be issued in such requested currency. If the Administrative Agent and all the Revolving Credit Lenders that would be obligated to make Credit Extensions denominated in such requested currency consent to making Revolving Credit Loans in such requested currency, the Administrative Agent shall so notify the Borrower and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Borrowings of Revolving Credit Loans; and if the Administrative Agent and the relevant L/C Issuer consent to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Borrower and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Letter of Credit. If the Administrative Agent shall fail to obtain the requisite consent to any request for an additional currency under this Section 1.12, the Administrative Agent shall promptly so notify the Borrower.
Appears in 3 contracts
Samples: Credit and Guaranty Agreement (Latham Group, Inc.), Credit and Guaranty Agreement (Latham Group, Inc.), Credit and Guaranty Agreement (Latham Group, Inc.)
Additional Alternate Currencies. (a) The Administrative Borrower may from time to time request that Revolving Credit Loans be made and/or Letters of Credit be issued in a currency other than those specifically listed in the definition of “Alternate Currency”; provided that such the relevant requested currency is a lawful currency (other than Dollars) that is readily available and freely transferable and convertible into Dollars. In the case of any such request with respect to the making of Revolving Credit Loans, such request shall be subject to the approval of the Administrative Agent and each of the Revolving Credit Lenders; and and, in the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Administrative Agent and the applicable L/C IssuerIssuing Bank.
(b) Any such request shall be made in writing to the Administrative Agent not later than 11:00 a.m., ten (10) a.m. 10 Business Days prior to the date of the desired Credit Extension (or such other time or date as may be agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the relevant L/C Issuer Issuing Bank, in its reasonable or their sole discretion). In the case of any such request pertaining to Revolving Credit Loans, the Administrative Agent shall promptly notify each Revolving Credit Lender of the applicable Class thereof, and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the relevant L/C Issuer Issuing Bank thereof. Each such Revolving Credit Lender (in the case of any such request pertaining to Revolving Credit Loans) and ), the relevant L/C Issuer Issuing Bank (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m., five (5) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Credit Loans or the issuance of Letters of Credit, as the case may be, in such requested currency.
(c) Any failure by a any Revolving Credit Lender or the relevant L/C Issuer Issuing Bank, as the case may be, to respond to such request within the time period specified in the preceding paragraph (b) shall be deemed to be a refusal by such Revolving Credit Lender or L/C IssuerIssuing Bank, as the case may be, to permit Revolving Credit Loans to be made or Letters of CreditCredit to be issued, as applicable, to be issued in such requested currency. If the Administrative Agent and all the Revolving Credit Lenders that would be obligated to make Credit Extensions denominated in such requested currency consent to making Revolving Credit Loans in such requested currency, the Administrative Agent shall so notify the Borrower Administrative Borrower, and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Borrowings Borrowing of Revolving Credit Loans; and if the Administrative Agent and the relevant L/C Issuer Issuing Bank consent to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Administrative Borrower and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Letter of CreditCredit issuances. If the Administrative Agent shall fail fails to obtain the requisite consent to any request for an additional currency under this Section 1.121.11, the Administrative Agent shall promptly so notify the Administrative Borrower. Notwithstanding anything to the contrary herein, to the extent that the Adjusted Eurocurrency Rate and/or the Alternate Base Rate is not applicable to or available with respect to any Revolving Loan denominated in any Alternate Currency, the components of the interest rate applicable to such Revolving Loan shall be separately agreed by the Administrative Borrower and the Administrative Agent.
Appears in 3 contracts
Samples: Credit Agreement (Syneos Health, Inc.), Credit Agreement (Syneos Health, Inc.), Credit Agreement (INC Research Holdings, Inc.)
Additional Alternate Currencies. (a) The Borrower may from time to time request that Revolving Credit Loans be made and/or Letters of Credit be issued in a currency other than those specifically listed in the definition of “Alternate Currency”; provided that such requested currency is a lawful currency (other than Dollars) that is readily available and freely transferable and convertible into Dollars. In the case of any such request with respect to the making of Revolving Credit Loans, such request shall be subject to the approval of the Administrative Agent and each of the Revolving Credit Lenders; and in the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Administrative Agent and the applicable L/C Issuer.
(b) Any such request shall be made in writing to the Administrative Agent not later than 11:00 a.m., ten (10) Business Days prior to the date of the desired Credit Extension (or such other time or date as may be agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the relevant L/C Issuer in its reasonable discretion). In the case of any such request pertaining to Revolving Credit Loans, the Administrative Agent shall promptly notify each Revolving Credit Lender of the applicable Class thereof, and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the relevant L/C Issuer thereof. Each such Revolving Credit Lender (in the case of any such request pertaining to Revolving Credit Loans) and the relevant L/C Issuer (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m., five (5) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Credit Loans or the issuance of Letters of Credit, in such requested currency.
(c) Any failure by a Revolving Credit Lender or the relevant L/C Issuer to respond to such request within the time period specified in the preceding paragraph (b) shall be deemed to be a refusal by such Revolving Credit Lender or L/C Issuer, as the case may be, to permit Revolving Credit Loans to be made or Letters of Credit, as applicable, to be issued in such requested currency. If the Administrative Agent and all the Revolving Credit Lenders that would be obligated to make Credit Extensions denominated in such requested currency consent to making Revolving Credit Loans in such requested currency, the Administrative Agent shall so notify the Borrower and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Borrowings of Revolving Credit Loans; and if the Administrative Agent and the relevant L/C Issuer consent to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Borrower and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Letter of Credit. If the Administrative Agent shall fail to obtain the requisite consent to any request for an additional currency under this Section 1.12, the Administrative Agent shall promptly so notify the Borrower.74
Appears in 2 contracts
Samples: Credit Agreement (Dun & Bradstreet Holdings, Inc.), Credit Agreement (Dun & Bradstreet Holdings, Inc.)
Additional Alternate Currencies. (a) The Borrower may from time to time request that Revolving Credit Loans be made and/or Letters of Credit be issued in a currency other than those specifically listed in the definition of “Alternate Currency”; provided that such requested currency is a lawful currency (other than Dollars) that is readily available and freely transferable and convertible into Dollars. In the case of any such request with respect to the making of Revolving Credit Loans, such request shall be subject to the approval of the Administrative Agent and each of the Revolving Credit Lenders; and in the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Administrative Agent and the applicable L/C Issuer.
(b) Any such request shall be made in writing to the Administrative Agent not later than 11:00 a.m., ten (10) Business Days prior to the date of the desired Credit Extension (or such other time or date as may be agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the relevant L/C Issuer in its reasonable discretion). In the case of any such request pertaining to Revolving Credit Loans, the Administrative Agent shall promptly notify each Revolving Credit Lender of the applicable Class thereof, and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the relevant L/C Issuer thereof. Each such Revolving Credit Lender (in the case of any such request pertaining to Revolving Credit Loans) and the relevant L/C Issuer (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m., five (5) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Credit Loans or the issuance of Letters of Credit, in such requested currency.
(c) Any failure by a Revolving Credit Lender or the relevant L/C Issuer to respond to such request within the time period specified in the preceding paragraph (b) shall be deemed to be a refusal by such Revolving Credit Lender or L/C Issuer, as the case may be, to permit Revolving Credit Loans to be made or Letters of Credit, as applicable, to be issued in such requested currency. If the Administrative Agent and all the Revolving Credit Lenders that would be obligated to make Credit Extensions denominated in such requested currency consent to making Revolving Credit Loans in such requested currency, the Administrative Agent shall so notify the Borrower and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Borrowings of Revolving Credit Loans; and if the Administrative Agent and the relevant L/C Issuer consent to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Borrower and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Letter of Credit. If the Administrative Agent shall fail to obtain the requisite consent to any request for an additional currency under this Section 1.121.11, the Administrative Agent shall promptly so notify the Borrower.
(d) Subject to the provisions of Sections 3.04, 3.07, 3.08 and 3.09 and other applicable provisions of this Agreement, each Lender may, at its option, make any Loan available to the Borrower by causing any foreign or domestic branch or Affiliate of such Lender to make such Loan; provided that any exercise of such option shall not affect the obligation of such Borrower to repay such Loan in accordance with the terms of this Agreement.
Appears in 2 contracts
Samples: Credit Agreement (Dun & Bradstreet Holdings, Inc.), Credit Agreement (Dun & Bradstreet Holdings, Inc.)
Additional Alternate Currencies. (a) The Borrower may from time to time request that Alternate Currency Revolving Credit Loans be made and/or Letters of Credit be issued in a currency other than those specifically listed in the definition of “Alternate Currency”; provided that such requested currency is a lawful currency (other than Dollars) that is readily available and freely transferable and convertible into Dollarsan Eligible Currency. In the case of any such request with respect to the making of Alternate Currency Revolving Credit Loans, such request shall be subject to the approval of the Administrative Agent and each of the Revolving Credit LendersLender; and in the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Administrative Agent and the applicable L/C IssuerIssuing Bank.
(b) Any such request shall be made in writing to the Administrative Agent not later than 11:00 a.m., ten twenty (1020) Business Days prior to the date of the desired Credit Extension (or such other time or date as may be agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the relevant L/C Issuer applicable Issuing Bank, in its reasonable or their sole discretion). In the case of any such request pertaining to Alternate Currency Revolving Credit Loans, the Administrative Agent shall promptly notify each Revolving Credit Lender of the applicable Class thereof, ; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the relevant L/C Issuer applicable Issuing Bank thereof. Each such Revolving Credit Lender (in the case of any such request pertaining to Alternate Currency Revolving Credit Loans) and or the relevant L/C Issuer applicable Issuing Bank (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m., five ten (510) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Alternate Currency Revolving Credit Loans or the issuance of Letters of Credit, as the case may be, in such requested currency.
(c) Any failure by a Revolving Credit Lender or an Issuing Bank, as the relevant L/C Issuer case may be, to respond to such request within the time period specified in the preceding paragraph (b) sentence shall be deemed to be a refusal by such Revolving Credit Lender or L/C Issuersuch Issuing Bank, as the case may be, to permit Alternate Currency Revolving Credit Loans to be made or Letters of Credit, as applicable, Credit to be issued in such requested currency. If the Administrative Agent and all the Revolving Credit Lenders that would be obligated consent to make Credit Extensions denominated making Alternate Currency Revolving Loans in such requested currency consent and the Administrative Agent and such Lenders reasonably determine that an appropriate interest rate is available to making Revolving Credit Loans in be used for such requested currency, the Administrative Agent shall so notify the Borrower and (i) the Administrative Agent and such Revolving Lenders may amend the definition of Alternate Currency Daily Rate or Alternate Currency Term Rate to the extent necessary to add the applicable rate for such currency and any applicable adjustment for such rate and (ii) to the extent the definition of Alternate Currency Daily Rate or Alternate Currency Term Rate, as applicable, has been amended to reflect the appropriate rate for such currency, such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Borrowings of Alternate Currency Revolving Credit Loans; and if . If the Administrative Agent and the relevant L/C Issuer such Issuing Bank consent to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Borrower and (iii) the Administrative Agent and the Issuing Bank may amend the definition of Alternate Currency Daily Rate or Alternate Currency Term Rate, as applicable, to the extent necessary to add the applicable rate for such currency and any applicable adjustment for such rate and (iv) to the extent the definition of Alternate Currency Daily Rate or Alternate Currency Term Rate, as applicable, has been amended to reflect the appropriate rate for such currency, such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder Currency, for purposes of any Letter of CreditCredit issuances. If the Administrative Agent shall fail to obtain the requisite consent to any request for an additional currency under this Section 1.121.09, the Administrative Agent shall promptly so notify the Borrower.
Appears in 2 contracts
Samples: Credit Agreement (CSG Systems International Inc), Credit Agreement (CSG Systems International Inc)
Additional Alternate Currencies. (a) The Borrower may from time to time request that Revolving Credit Loans be made and/or Letters of Credit be issued in a currency other than those specifically listed in the definition of “Alternate Currency”; provided that such the relevant requested currency is a lawful currency (other than Dollars) that is readily available and freely transferable and convertible into Dollars. In the case of any such request with respect to the making of Revolving Credit Loans, such request shall be subject to the approval of the Administrative Agent and each of the Revolving Credit Lenders; and and, in the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Administrative Agent and the applicable L/C IssuerIssuing Lender.
(b) Any such request shall be made in writing to the Administrative Agent not later than 11:00 a.m., ten (10) a.m. 10 Business Days prior to the date of the desired Credit Extension Borrowing Date (or such other time or date as may be agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the relevant L/C Issuer Issuing Lender, in its reasonable or their sole discretion). In the case of any such request pertaining to Revolving Credit Loans, the Administrative Agent shall promptly notify each Revolving Credit Lender of the applicable Class thereof, and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the relevant L/C Issuer Issuing Lender thereof. Each such Revolving Credit Lender (in the case of any such request pertaining to Revolving Credit Loans) and ), the relevant L/C Issuer Issuing Lender (in the case of a any such request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m., five (5) 10 Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Credit Loans or the issuance of Letters of Credit, as the case may be, in such requested currency.
(c) Any failure by a any Revolving Credit Lender or the relevant L/C Issuer Issuing Lender, as the case may be, to respond to such request within the time period specified in the preceding paragraph (b) shall be deemed to be a refusal by such Revolving Credit Lender or L/C IssuerIssuing Lender, as the case may be, to permit Revolving Credit Loans to be made or Letters of CreditCredit to be issued, as applicable, to be issued in such requested currency. If the Administrative Agent and all the Revolving Credit Lenders that would be obligated to make Credit Extensions Revolving Loans denominated in such requested currency consent to making Revolving Credit Loans in such requested currency, the Administrative Agent shall so notify the Borrower Borrower, and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Borrowings borrowing of Revolving Credit Loans; and if the Administrative Agent and the relevant L/C Issuer Issuing Lender consent to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Borrower and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Letter of CreditCredit issuances. If the Administrative Agent shall fail fails to obtain the requisite consent to any request for an additional currency under this Section 1.121.7, the Administrative Agent shall promptly so notify the Borrower.
Appears in 2 contracts
Samples: Credit Agreement (2U, Inc.), Credit Agreement (2U, Inc.)
Additional Alternate Currencies. (a) The Borrower may from time to time request that Revolving Credit Eurodollar Rate Loans be made and/or Letters of Credit be issued in a currency other than those specifically listed in the definition of “Alternate Currency”; ;” provided that such requested currency is a lawful currency (other than Dollars) that is readily available and freely transferable and convertible into Dollars. In the case of any such request with respect to the making of Revolving Credit Eurodollar Rate Loans, such request shall be subject to the approval of the Administrative Agent and each of the Revolving Credit Lenders; and in the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Administrative Agent and the applicable L/C Issuer.
(b) Any such request shall be made in writing to the Administrative Agent not later than 11:00 a.m., ten (10) Business Days prior to the date of the desired Credit Extension (or such other time or date as may be agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the relevant L/C Issuer Issuer, in its reasonable or their sole discretion). In the case of any such request pertaining to Revolving Credit Eurodollar Rate Loans, the Administrative Agent shall promptly notify each Revolving Credit Lender of the applicable Class thereof, ; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the relevant L/C Issuer thereof. Each such Revolving Credit Lender (in the case of any such request pertaining to Revolving Credit Eurodollar Rate Loans) and or the relevant L/C Issuer (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m., five (5) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Credit Eurodollar Rate Loans or the issuance of Letters of Credit, as the case may be, in such requested currency.
(c) Any failure by a Revolving Credit Lender or the relevant L/C Issuer Issuer, as the case may be, to respond to such request within the time period specified in the preceding paragraph (b) sentence shall be deemed to be a refusal by such Revolving Credit Lender or the L/C Issuer, as the case may be, to permit Revolving Credit Eurodollar Rate Loans to be made or Letters of Credit, as applicable, Credit to be issued in such requested currency. If the Administrative Agent and all the Revolving Credit Lenders that would be obligated to make Credit Extensions denominated in such requested currency consent to making Revolving Credit Eurodollar Rate Loans in such requested currency, the Administrative Agent shall so notify the Borrower and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Borrowings of Revolving Credit Eurodollar Rate Loans; and if the Administrative Agent and the relevant L/C Issuer consent to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Borrower and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Letter of CreditCredit issuances. If the Administrative Agent shall fail to obtain the requisite consent to any request for an additional currency under this Section 1.121.09, the Administrative Agent shall promptly so notify the Borrower.
Appears in 2 contracts
Samples: Credit Agreement (Visteon Corp), Credit Agreement (Visteon Corp)
Additional Alternate Currencies. (a) The Borrower Company may from time to time request that Revolving Credit Eurocurrency Rate Loans, Alternative Currency Daily Rate Loans and/or Alternative Currency Term Rate Loans be made and/or Letters of Credit be issued in a currency other than those specifically listed in the definition of “Alternate Alternative Currency”; provided that provided, that, such requested currency is a lawful currency (other than Dollars) that is readily available and freely transferable and convertible into Dollarsan Eligible Currency. In the case of any such request with respect to the making of Revolving Credit Eurocurrency Rate Loans, Alternative Currency Daily Rate Loans and/or Alternative Currency Term Rate Loans, such request shall be subject to the approval of the Administrative Agent and each of the Revolving Credit LendersLender; and in the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Administrative Agent and the applicable each L/C Issuer.
(b) Any such request shall be made in writing to the Administrative Agent not later than 11:00 a.m., ten twenty (1020) Business Days prior to the date of the desired Credit Extension (or such other time or date as may be agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the relevant each L/C Issuer Issuer, in its reasonable or their sole discretion). In the case of any such request pertaining to Revolving Credit Eurocurrency Rate Loans, Alternative Currency Daily Rate Loans and/or Alternative Currency Term Rate Loans, the Administrative Agent shall promptly notify each Revolving Credit Lender of the applicable Class thereof, ; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the relevant each L/C Issuer thereof. Each such Revolving Credit Lender (in the case of any such request pertaining to Revolving Credit Eurocurrency Rate Loans, Alternative Currency Daily Rate Loans and/or Alternative Currency Term Rate Loans) and the relevant or each L/C Issuer (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m., five ten (510) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Credit Eurocurrency Rate Loans, Alternative Currency Daily Rate Loans and/or Alternative Currency Term Rate Loans or the issuance of Letters of Credit, as the case may be, in such requested currency.
(c) Any failure by a Revolving Credit Lender or the relevant an L/C Issuer Issuer, as the case may be, to respond to such request within the time period specified in the preceding paragraph (bSection 1.06(b) shall be deemed to be a refusal by such Revolving Credit Lender or L/C Issuer, as the case may be, to permit Revolving Credit Eurocurrency Rate Loans, Alternative Currency Daily Rate Loans and/or Alternative Currency Term Rate Loans to be made or Letters of Credit, as applicable, Credit to be issued in such requested currency. If the Administrative Agent and all the Revolving Credit Lenders that would be obligated to make Credit Extensions denominated in such requested currency consent to making Revolving Credit Eurocurrency Rate Loans, Alternative Currency Daily Rate Loans and/or Alternative Currency Term Rate Loans in such requested currency, the Administrative Agent shall so notify the Borrower Company and such currency shall thereupon be deemed for all purposes to be an Alternate Alternative Currency hereunder for purposes of any Borrowings of Revolving Credit Eurocurrency Rate Loans, Alternative Currency Daily Rate Loans and/or Alternative Currency Term Rate Loans; and if the Administrative Agent and the relevant any L/C Issuer consent to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Borrower Company and such currency shall thereupon be deemed for all purposes purposes, but solely as to the Letters of Credit issued by such L/C Issuer, to be an Alternate Alternative Currency hereunder for purposes of any Letter of CreditCredit issuances by such L/C Issuer. If the Administrative Agent shall fail to obtain the requisite consent to any request for an additional currency under this Section 1.121.08, the Administrative Agent shall promptly so notify the BorrowerCompany.
Appears in 2 contracts
Samples: Credit Agreement (Analog Devices Inc), Credit Agreement (Analog Devices Inc)
Additional Alternate Currencies. (a) The Borrower Company may from time to time request that Revolving Credit Loans be made and/or Letters of Credit be issued in a currency other than Dollars and those specifically listed in the definition of “Alternate CurrencyCurrencies”; provided that such requested currency is a lawful currency (other than Dollars) that is readily available and freely transferable and convertible into Dollars. In the case of any such request with respect to the making of Revolving Credit LoansLoans in any additional Alternate Currency, such request shall be subject to the approval of the Administrative Agent and each of the Revolving Credit LendersLenders of the applicable Class; and in the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Administrative Agent and the each applicable L/C IssuerIssuing Bank.
(b) Any such request shall be made in writing to the Administrative Agent not later than 11:00 a.m., ten fifteen (1015) Business Days prior to the date of the first desired Credit Extension borrowing of Loans in such additional Alternate Currency (or such other time or date as may be agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the relevant L/C Issuer Issuing Banks, in its reasonable or their sole discretion). In the case of any such request pertaining to Revolving Credit Alternate Currency Loans, the Administrative Agent shall promptly notify each Revolving Credit Lender of the applicable Class thereof, ; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall also promptly notify the relevant L/C Issuer each applicable Issuing Bank thereof. Each such Revolving Credit Lender of the applicable Class (in the case of any such request pertaining to Revolving Credit Loans) and the relevant L/C Issuer each applicable Issuing Bank (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m., five ten (510) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Credit Loans Loans, or the issuance of Letters of Credit, as the case may be, in such requested currency.
(c) Any failure by a Revolving Credit Lender or an Issuing Bank, as the relevant L/C Issuer case may be, to respond to such request within the time period specified in the preceding paragraph (b) sentence shall be deemed to be a refusal by such Revolving Credit Lender or L/C Issuersuch Issuing Bank, as the case may be, to permit Revolving Credit Loans to be made or Letters of Credit, as applicable, Credit to be issued in such requested currency. If the Administrative Agent and all the Revolving Credit Lenders that would be obligated to make Credit Extensions denominated in such requested currency consent to making Revolving Credit Loans in such requested currency, the Administrative Agent shall so notify the Borrower Company and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Borrowings borrowings of Revolving Credit LoansLoans of the applicable Class; and if the Administrative Agent and the relevant L/C Issuer each applicable Issuing Bank consent to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Borrower Company and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Letter of CreditCredit issuances. If the Administrative Agent shall fail to obtain the requisite consent to any request for an additional currency under this Section 1.121.05, the Administrative Agent shall promptly so notify the BorrowerCompany, and the Company may replace such non-consenting Lender, subject to Section 12.05(b). Any specified currency of an Existing Letter of Credit that is neither Dollars nor one of the Alternate Currencies specifically listed in the definition of “Alternate Currencies” shall be deemed an Alternate Currency with respect to such Existing Letter of Credit only.
Appears in 2 contracts
Samples: Credit Agreement (Iron Mountain Inc), Credit Agreement (Iron Mountain Inc)
Additional Alternate Currencies. (a) The Borrower may from time to time request that Revolving Credit Loans be made and/or Letters of Credit be issued in a currency other than those specifically listed in the definition of “Alternate Currency”; provided that such requested currency is a lawful currency (other than Dollars) that is readily available and freely transferable and convertible into Dollars. In the case of any such request with respect to the making of Revolving Credit Loans, such request shall be subject to the approval of the Administrative Agent and each of the Revolving Credit Lenders; and in the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Administrative Agent and the applicable L/C Issuer.
(b) Any such request shall be made in writing to the Administrative Agent not later than 11:00 a.m., ten (10) Business Days prior to the date of the desired Credit Extension (or such other time or date as may be agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the relevant L/C Issuer in its reasonable discretion). In the case of any such request pertaining to Revolving Credit Loans, the Administrative Agent shall promptly notify each Revolving Credit Lender of the applicable Class thereof, and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the relevant L/C Issuer thereof. Each such Revolving Credit Lender (in the case of any such request pertaining to Revolving Credit Loans) and the relevant L/C Issuer (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m., five (5) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Credit Loans or the issuance of Letters of Credit, in such requested currency.
(c) Any failure by a Revolving Credit Lender or the relevant L/C Issuer to respond to such request within the time period specified in the preceding paragraph (b) shall be deemed to be a refusal by such Revolving Credit Lender or L/C Issuer, as the case may be, to permit Revolving Credit Loans to be made or Letters of Credit, as applicable, to be issued in such requested currency. If the Administrative Agent and all the Revolving Credit Lenders that would be obligated to make Credit Extensions denominated in such requested currency consent to making Revolving Credit Loans in such requested currency, the Administrative Agent shall so notify the Borrower and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Borrowings of Revolving Credit Loans; and if the Administrative Agent and the relevant L/C Issuer consent to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Borrower and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Letter of Credit. If the Administrative Agent shall fail to obtain the requisite consent to any request for an additional currency under this Section 1.12Section 1.11, the Administrative Agent shall promptly so notify the Borrower.
(d) Subject to the provisions of Sections 3.04, 3.07, 3.08 and 3.09 and other applicable provisions of this Agreement, each Lender may, at its option, make any Loan available to the Borrower by causing any foreign or domestic branch or Affiliate of such Lender to make such Loan; provided that any exercise of such option shall not affect the obligation of such Borrower to repay such Loan in accordance with the terms of this Agreement.
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Samples: Credit Agreement (Dun & Bradstreet Holdings, Inc.), Credit Agreement (Dun & Bradstreet Holdings, Inc.)
Additional Alternate Currencies. (a) The Borrower may from time to time request that Revolving Credit Euro-Dollar Loans be made and/or Letters of Credit be issued in a currency other than those specifically listed in the definition of “Alternate Currency”” or previously approved in accordance with this Section 2.10; provided that such requested currency is a lawful currency (other than Dollars) that is readily available and freely transferable and convertible into Dollars. In the case of any such request with respect to the making of Revolving Credit Euro-Dollar Loans, such request shall be subject to the approval of the Administrative Agent and each all of the Revolving Credit LendersBanks that hold an Alternate Currency Commitment; and in the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Administrative Agent and the applicable L/C IssuerFronting Bank.
(b) Any such request shall be made in writing to the Administrative Agent not later than 11:00 a.m.a.m. (Chicago, ten Illinois time), twenty (1020) Business Days prior to the date of the desired Credit Extension Borrowing or issuance (or such other time or date as may be agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the relevant L/C Issuer applicable Fronting Bank, in its reasonable or their sole discretion). In the case of any such request pertaining to Revolving Credit Euro-Dollar Loans, the Administrative Agent shall promptly notify each Revolving Credit Lender of the applicable Class Bank thereof, ; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the relevant L/C Issuer applicable Fronting Bank thereof. Each such Revolving Credit Lender Bank (in the case of any such request pertaining to Revolving Credit Euro-Dollar Loans) and or the relevant L/C Issuer applicable Fronting Bank (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m.a.m. (Chicago, five Illinois time), ten (510) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Credit Euro-Dollar Loans or the issuance of Letters of Credit, as the case may be, in such requested currency.
(c) Any failure by a Revolving Credit Lender Bank or the relevant L/C Issuer applicable Fronting Bank, as the case may be, to respond to such request within the time period specified in the preceding paragraph (b) sentence shall be deemed to be a refusal by such Revolving Credit Lender Bank or L/C Issuersuch Fronting Bank, as the case may be, to permit Revolving Credit Euro-Dollar Loans to be made or Letters of Credit, as applicable, Credit to be issued in such requested currency. If the Administrative Agent and all the Revolving Credit Lenders that would be obligated to make Credit Extensions denominated in such requested currency Banks consent to making Revolving Credit Euro-Dollar Loans in such requested currency, the Administrative Agent shall so notify the Borrower and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Committed Borrowings of Revolving Credit Euro-Dollar Loans; and if the Administrative Agent and the relevant L/C Issuer applicable Fronting Bank consent to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Borrower and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Letter of CreditCredit issuances. If the Administrative Agent shall fail to obtain the requisite consent to any request for an additional currency under this Section 1.122.10, the Administrative Agent shall promptly so notify the Borrower.
Appears in 1 contract
Samples: Revolving Credit Agreement (Erp Operating LTD Partnership)
Additional Alternate Currencies. (a) The Borrower Company may from time to time request that Revolving Credit Eurocurrency Rate Loans be made in a currency other than those specifically listed in clause (a) of the definition of “Alternate Currency” and/or Letters of Credit be issued in a currency other than those specifically listed in clauses (a) and (b) of the definition of “Alternate Currency”; provided Currency;”provided that such requested currency is a lawful currency (other than Dollars) that is readily available and freely transferable and convertible into DollarsDollars and a Dollar Equivalent thereof can be calculated. In the case of any such request with respect to the making of Revolving Credit Eurocurrency Rate Loans, such request shall be subject to the approval of the Administrative Agent and each of (and, if the Revolving Credit requested currency is not Euro, Canadian Dollars or Sterling or an Alternate Currency previously approved by all Lenders; and in , all Lenders). In the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Administrative Agent and the applicable L/C IssuerIssuing Bank.
(b) Any such request shall be made in writing to the Administrative Agent not later than 11:00 a.m.A.M., ten (10) Business Days prior to the date of the desired Borrowing or two (2) Business Days prior to the date of the desired Letter of Credit Extension (or such other time or date as may be agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the relevant L/C Issuer applicable Issuing Bank, in its reasonable or their sole discretion). In the case of any such request pertaining to Revolving Credit Eurocurrency Rate Loans, the Administrative Agent shall promptly notify each Revolving Credit Lender of the applicable Class thereof, ; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the relevant L/C Issuer Issuing Banks thereof. Each such Revolving Credit Lender (in the case of any such request pertaining to Revolving Credit LoansEurocurrency Rate Loans where the consent of all Lenders is required pursuant to Section 1.07(a)) and the relevant L/C Issuer or each Issuing Bank (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m.A.M., five (5) Business Days (in the case of a desired Borrowing) or one (1) Business Day (in the case of a desired Letter of Credit) after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Credit Eurocurrency Rate Loans or the issuance of Letters of Credit, as the case may be, in such requested currency.
(c) Any failure by a Revolving Credit Lender or an Issuing Bank, as the relevant L/C Issuer case may be, to respond to such request within the time period specified in the preceding paragraph (b) sentence shall be deemed to be a refusal by such Revolving Credit Lender or L/C Issuersuch Issuing Bank, as the case may be, to permit Revolving Credit Eurocurrency Rate Loans to be made or Letters of Credit, as applicable, Credit to be issued in such requested currency. If the Administrative Agent and all the Revolving Credit Lenders that would be obligated to make Credit Extensions denominated in such requested currency consent to making Revolving Credit Eurocurrency Rate Loans in such requested currency, the Administrative Agent shall so notify the Borrower Company and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Borrowings of Revolving Credit Eurocurrency Rate Loans; and if the Administrative Agent and the relevant L/C Issuer an Issuing Bank consent to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Borrower Company and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Letter of CreditCredit issuances by such Issuing Bank. If the Administrative Agent shall fail to obtain the requisite consent to any request for an additional currency under this Section 1.121.07, the Administrative Agent shall promptly so notify the Borrower.Company. FOURTH AMENDED AND RESTATED CREDIT AGREEMENT
Appears in 1 contract
Additional Alternate Currencies. (a) The Borrower Parent may from time to time request that Eurocurrency Rate Revolving Credit Loans be made to the Borrowers and/or Letters of Credit be issued to the Borrowers in a currency other than those specifically listed in the definition of “that is not Dollars or an Alternate Currency”; provided that such requested currency is a lawful currency (other than Dollars) that is readily available and freely transferable and convertible into Dollars. In the case of any such request with respect to the making of Eurocurrency Rate Revolving Credit Loans, such request shall be subject to the approval of the Administrative Agent and each the Revolving Lenders of the Revolving Credit Lenders; applicable Class that will provide such Loans, and in the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Administrative Agent and the applicable L/C IssuerIssuing Banks, in each case as set forth in Section 10.02(b)(ii)(E).
(b) Any such request shall be made in writing to the Administrative Agent not later than 11:00 a.m., ten (10) Business Days prior to the requested date of the desired making of such Revolving Loan or issuance of such Letter of Credit Extension (or such other time or date as may be agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the relevant L/C Issuer applicable Issuing Banks, in its reasonable or their sole discretion). In the case of any such request pertaining to Eurocurrency Rate Revolving Credit Loans, the Administrative Agent shall promptly notify each Revolving Credit Lender of the applicable Class thereof, ; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the relevant L/C Issuer applicable Issuing Bank thereof. Each such applicable Revolving Credit Lender (in the case of any such request pertaining to Eurocurrency Rate Revolving Credit Loans) and the relevant L/C Issuer or each applicable Issuing Bank (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m., five (5) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Eurocurrency Rate Revolving Credit Loans or the issuance of Letters of Credit, as the case may be, in such requested currency.
(c) Any failure by a Revolving Credit Lender or Issuing Bank, as the relevant L/C Issuer case may be, to respond to such request within the time period specified in the preceding paragraph (b) shall be deemed to be a refusal by such Revolving Credit Lender or L/C IssuerIssuing Bank, as the case may be, to permit Eurocurrency Rate Revolving Credit Loans to be made or Letters of Credit, as applicable, Credit to be issued in such requested currency. If the Administrative Agent and all the applicable Revolving Credit Lenders that would be obligated to make Credit Extensions denominated in such requested currency consent to making Eurocurrency Rate Revolving Loans or issuance of Letters of Credit Loans in such requested currency, the Administrative Agent shall so notify the Borrower Parent, and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Borrowings Borrowing of Revolving Credit Loans; and if the Administrative Agent and the relevant L/C Issuer consent to the Loans or issuance of Letters of Credit in such requested currency, as applicable, in which case the Administrative Agent Parent and the Revolving Lenders shall so notify be permitted (but not required) to amend this Agreement and the Borrower and other Loan Documents as necessary to accommodate such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes Borrowings and/or Letters of any Letter of Credit. If the Administrative Agent shall fail to obtain the requisite consent to any request for an additional currency under this Credit (as applicable), in accordance with Section 1.12, the Administrative Agent shall promptly so notify the Borrower.10.02(b)(
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Additional Alternate Currencies. (a) The Borrower Company may from time to time request that Revolving Credit Eurocurrency Rate Loans be made and/or Letters of Credit be issued in a currency other than those specifically listed in the definition of “Alternate Currency”; provided that such requested currency is a lawful currency (other than Dollars) that is readily available and freely transferable and convertible into Dollarsan Eligible Currency. In the case of any such request with respect to the making of Revolving Credit Eurocurrency Rate Loans, such request shall be subject to the approval of the Administrative Agent and each of Agent, the Revolving Credit Lenders; , and in the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Administrative Agent and the applicable L/C IssuerIssuing Bank.
(b) Any such request shall be made in writing to the Administrative Agent Lender not later than 11:00 a.m., ten (10) 10 Business Days prior to the date of the desired Borrowing or Letter of Credit Extension issuance (or such other time or date shorter period as may be agreed by the Administrative Agent and, in the case of any such request pertaining to Letters a Letter of Credit, the relevant L/C Issuer Issuing Bank, in its reasonable or their sole discretion). In the case of any such request pertaining to Revolving Credit Eurodollar Rate Loans, the Administrative Agent shall promptly notify each Revolving Credit Lender of the applicable Class thereof, ; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the relevant L/C Issuer applicable Issuing Bank thereof. Each such Revolving Credit Lender (in the case of any such request pertaining to Revolving Credit Eurodollar Rate Loans) and or the relevant L/C Issuer applicable Issuing Bank (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m., five (5) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Credit Eurodollar Rate Loans or the issuance of Letters of Credit, as the case may be, in such requested currency.
(c) Any failure by a Revolving Credit Lender or the relevant L/C Issuer to respond to such request within the time period specified in the preceding paragraph (b) shall be deemed to be a refusal by such Revolving Credit Lender or L/C Issuer, as the case may be, to permit Revolving Credit Loans to be made or Letters of Credit, as applicable, to be issued in such requested currency. If the Administrative Agent and all of the Revolving Credit Lenders that would be obligated consent to make Credit Extensions denominated making Eurocurrency Rate Loans, or the Administrative Agent and the applicable Issuing Bank consent to issuing Letters of Credit, in such requested currency consent and the Administrative Agent and such Lenders and/or Issuing Banks reasonably determine that an appropriate interest rate is available to making Revolving Credit Loans in be used for such requested currency, the Administrative Agent Lender shall so notify the Borrower Company and may amend the definition of Eurocurrency Rate to the extent necessary to add the applicable Eurocurrency Rate for such currency and (ii) to the extent the definition of Eurocurrency Rate reflects the appropriate interest rate for such currency or has been amended to reflect the appropriate rate for such currency, such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Borrowings of Revolving Credit Loans; and if the Administrative Agent and the relevant L/C Issuer consent to Eurocurrency Rate Loans or the issuance of Letters of Credit in such requested currencyCredit, the Administrative Agent shall so notify the Borrower and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Letter of Credit. If the Administrative Agent shall fail to obtain the requisite consent to any request for an additional currency under this Section 1.12, the Administrative Agent shall promptly so notify the Borroweras applicable.
Appears in 1 contract
Additional Alternate Currencies. (a) The Borrower Borrowers may from time to time request that Revolving Credit Facility Loans be made and/or Letters of Credit be issued in a currency other than those specifically listed in the definition of “Alternate Currency”Dollars or Euros; provided that such requested currency is a lawful currency (other than DollarsDollars and Euro) that is readily available and freely transferable and convertible into Dollars. In the case of any such request with respect to the making of Revolving Credit Facility Loans, such request shall be subject to the approval of the Administrative Agent and each of the Revolving Credit LendersAgent; and in the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Administrative Agent and the applicable L/C Issuer.
(b) Any such request shall be made in writing to the Administrative Agent not later than 11:00 a.m., ten (10) 5 Business Days prior to the date of the desired Credit Extension Event (or such other time or date as may be agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the relevant L/C Issuer Issuer, in its reasonable or their sole discretion). In the case of any such request pertaining to Revolving Credit Eurocurrency Loans, the Administrative Agent shall promptly notify each Revolving Credit Facility Lender of the applicable Class thereof, ; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the relevant L/C Issuer thereof. Each such Revolving Credit Facility Lender (in the case of any such request pertaining to Revolving Credit Eurocurrency Loans) and or the relevant L/C Issuer (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m., five (5) 4 Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Credit Eurocurrency Loans or the issuance of Letters of Credit, as the case may be, in such requested currency.
(c) Any failure by a Revolving Credit Facility Lender or the relevant L/C Issuer Issuer, as the case may be, to respond to such request within the time period specified in the preceding paragraph (b) sentence shall be deemed to be a refusal by such Revolving Credit Facility Lender or the L/C Issuer, as the case may be, to permit Revolving Credit Facility Loans to be made or Letters of Credit, as applicable, Credit to be issued in such requested currency. If the Administrative Agent and all the Revolving Credit Facility Lenders that would be obligated to make Credit Extensions denominated in such requested currency consent to making Revolving Credit Facility Loans in such requested currency, the Administrative Agent shall so notify the Borrower and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Borrowings of Revolving Credit Facility Loans; and if the Administrative Agent and the relevant L/C Issuer consent to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Borrower and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Letter of CreditCredit issuances. If the Administrative Agent shall fail to obtain the requisite consent to any request for an additional currency under this Section 1.121.05, the Administrative Agent shall promptly so notify the Borrower.
Appears in 1 contract
Additional Alternate Currencies. (a) The Any Borrower may from time to time request that Eurocurrency Rate Revolving Credit Loans be made and/or Letters of Credit be issued in a currency other than those specifically listed in the definition of “Alternate Currency”Dollars or Euros; provided that such requested currency is a lawful currency (other than DollarsDollars or Euros) that is readily available and freely transferable and convertible into DollarsDollars or Euros. In the case of any such request with respect to the making of Eurocurrency Rate Revolving Credit Loans, such request shall be subject to the approval of the Administrative Agent and each of the Revolving Credit Lenders; Lenders of the applicable Class that will provide such Loans, and in the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Administrative Agent and the applicable L/C IssuerIssuing Banks, in each case as set forth in Section 9.02(b)(ii)(E).
(b) Any such request shall be made in writing to the Administrative Agent not later than 11:00 a.m., ten (10) Business Days prior to the date of the desired Credit Extension (or such other time or date as may be agreed by each of the Administrative Agent Revolving Lenders and, in the case of any such request pertaining to Letters of Credit, the relevant L/C Issuer Issuing Bank, in its reasonable or their sole discretion). In the case of any such request pertaining to Eurocurrency Rate Revolving Credit Loans, the Administrative Agent shall promptly notify each Revolving Credit Lender of the applicable Class thereof, ; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the relevant L/C Issuer Issuing Bank thereof. Each such applicable Revolving Credit Lender (in the case of any such request pertaining to Eurocurrency Rate Revolving Credit Loans) and the or each relevant L/C Issuer Issuing Bank (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m., five (5) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Eurocurrency Rate Revolving Credit Loans or the issuance of Letters of Credit, as the case may be, in such requested currency.
(c) Any failure by a any Revolving Credit Lender or the relevant L/C Issuer Issuing Bank, as the case may be, to respond to such request within the time period specified in the preceding paragraph (b) shall be deemed to be a refusal by such Revolving Credit Lender or L/C IssuerIssuing Bank, as the case may be, to permit Eurocurrency Rate Revolving Credit Loans to be made or Letters of CreditCredit to be issued, as applicable, to be issued in such requested currency. If the Administrative Agent and all the applicable Revolving Credit Lenders that would be obligated to make Credit Extensions denominated in such requested currency consent to making Revolving Credit Loans in such requested currency, the Administrative Agent shall so notify the Borrower and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Borrowings of Revolving Credit Loans; and if the Administrative Agent and the relevant L/C Issuer consent to the issuance of or issuing Letters of Credit in such requested currency, the Administrative Agent shall so notify the Borrower Borrower, and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Letter of Credit. If the Administrative Agent shall fail to obtain the requisite consent to any request for an additional currency under this Section 1.12, the Administrative Agent shall promptly so notify the Borrower.Currency
Appears in 1 contract
Samples: First Lien Credit Agreement (Ranpak Holdings Corp.)
Additional Alternate Currencies. (a) The Borrower Parent may from time to time request that Eurocurrency Rate Revolving Credit Loans be made to the Borrowers and/or Letters of Credit be issued to the Borrowers in a currency other than those specifically listed in the definition of “that is not Dollars or an Alternate Currency”; provided that such requested currency is a lawful currency (other than Dollars) that is readily available and freely transferable and convertible into Dollars. In the case of any such request with respect to the making of Eurocurrency Rate Revolving Credit Loans, such request shall be subject to the approval of the Administrative Agent and each the Revolving Lenders of the Revolving Credit Lenders; applicable Class that will provide such Loans, and in the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Administrative Agent and the applicable L/C IssuerIssuing Banks, in each case as set forth in Section 10.02(b)(ii)(E).
(b) Any such request shall be made in writing to the Administrative Agent not later than 11:00 a.m., ten (10) Business Days prior to the requested date of the desired making of such Revolving Loan or issuance of such Letter of Credit Extension (or such other time or date as may be agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the relevant L/C Issuer applicable Issuing Banks, in its reasonable or their sole discretion). In the case of any such request pertaining to Eurocurrency Rate Revolving Credit Loans, the Administrative Agent shall promptly notify each Revolving Credit Lender of the applicable Class thereof, ; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the relevant L/C Issuer applicable Issuing Bank thereof. Each such applicable Revolving Credit Lender (in the case of any such request pertaining to Eurocurrency Rate Revolving Credit Loans) and the relevant L/C Issuer or each applicable Issuing Bank (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m., five (5) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Eurocurrency Rate Revolving Credit Loans or the issuance of Letters of Credit, as the case may be, in such requested currency.
(c) Any failure by a Revolving Credit Lender or Issuing Bank, as the relevant L/C Issuer case may be, to respond to such request within the time period specified in the preceding paragraph (b) shall be deemed to be a refusal by such Revolving Credit Lender or L/C IssuerIssuing Bank, as the case may be, to permit Eurocurrency Rate Revolving Credit Loans to be made or Letters of Credit, as applicable, Credit to be issued in such requested currency. If the Administrative Agent and all the applicable Revolving Credit Lenders that would be obligated to make Credit Extensions denominated in such requested currency consent to making Eurocurrency Rate Revolving Loans or issuance of Letters of Credit Loans in such requested currency, the Administrative Agent shall so notify the Borrower Parent, and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Borrowings Borrowing of Revolving Credit Loans; and if the Administrative Agent and the relevant L/C Issuer consent to the Loans or issuance of Letters of Credit in such requested currency, as applicable, in which case the Administrative Agent Parent and the Revolving Lenders shall so notify be permitted (but not required) to amend this Agreement and the Borrower and other Loan Documents as necessary to accommodate such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes Borrowings and/or Letters of any Letter of CreditCredit (as applicable), in accordance with Section 10.02(b)(ii)(E). If the Administrative Agent shall fail to obtain the requisite consent to any request for an additional currency under this Section 1.121.10, the Administrative Agent shall promptly so notify the BorrowerParent. Notwithstanding anything to the contrary herein, to the extent that the Eurocurrency Rate and/or the Alternate Base Rate is not applicable to or available with respect to any Revolving Loan denominated in any Alternate Currency, the components of the interest rate applicable to such Revolving Loan shall be separately agreed by the Parent and the Administrative Agent.
Appears in 1 contract
Samples: Restatement Agreement (Valeant Pharmaceuticals International, Inc.)
Additional Alternate Currencies. (a) The Borrower may from time to time request that Revolving Credit Loans be made and/or Letters of Credit be issued in a currency other than those specifically listed in the definition of “Alternate Currency”; provided that such the requested currency is a lawful currency (other than Dollars) that is readily available and freely transferable and convertible into Dollars. In the case of any such request with respect to the making of Revolving Credit Loans, such request shall be subject to the approval of the Administrative Agent and each of the Revolving Credit LendersLenders (such approval not to be unreasonably withheld or delayed); and and, in the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Administrative Agent Agent, the Revolving Lenders and the applicable L/C IssuerIssuing Lender (such approval not to be unreasonably withheld or delayed, provided that the applicable Issuing Lender may withhold such approval in the event that it does not issue letters of credit in such currency).
(b) Any such request shall be made in writing to the Administrative Agent not later than 11:00 a.m., ten (10) 1:00 p.m. 5 Business Days prior to the date of the desired Borrowing or Letter of Credit Extension (or such other time or date as may be agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the relevant L/C Issuer in its reasonable discretionIssuing Lender). In the case of any such request pertaining to Revolving Credit Loans, the Administrative Agent shall promptly notify each Revolving Credit Lender of the applicable Class thereof, ; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify each Revolving Lender and the relevant L/C Issuer Issuing Lender thereof. Each such Revolving Credit Lender (in the case of any such request pertaining to Revolving Credit Loans) and or the relevant L/C Issuer Issuing Lender (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m.1:00 p.m., five (5) 2 Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Credit Loans or the issuance of Letters of Credit, Credit in such the requested currency.
(c) Any failure by a any Revolving Credit Lender or the relevant L/C Issuer Issuing Lender, as the case may be, to respond to such request within the time period specified in the preceding paragraph (b) shall be deemed to be a refusal by such Revolving Credit Lender or L/C IssuerIssuing Lender, as the case may be, to permit Revolving Credit Loans to be made or Letters of Credit, as applicable, Credit to be issued in such the requested currency. If the Administrative Agent and all the each Revolving Credit Lenders Lender that would be obligated to make Credit Extensions Revolving Loans denominated in such the requested currency consent to making Revolving Credit Loans in such the requested currency, the Administrative Agent shall so notify the Borrower and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Borrowings Borrowing of Revolving Credit Loans; and if the Administrative Agent Agent, the Revolving Lenders and the relevant L/C Issuer Issuing Lender consent to the issuance of Letters of Credit in such the requested currency, the Administrative Agent shall so notify the Borrower and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of the issuance of any Letter of CreditCredit issued by such Issuing Lender. If the Administrative Agent shall fail fails to obtain the requisite consent to any request for an additional currency under this Section 1.121.08, the Administrative Agent shall promptly so notify the Borrower.
Appears in 1 contract
Samples: Credit Agreement (Metaldyne Performance Group Inc.)
Additional Alternate Currencies. (a) The Borrower Borrowers may from time to time request that Revolving Credit Loans be made and/or Letters of Credit be issued in a currency other than those specifically listed in the definition of “Alternate Currency”Dollars or Euros; provided that such requested currency is a lawful currency (other than DollarsDollars and Euro) that is readily available and freely transferable and convertible into Dollars. In the case of any such request with respect to the making of Revolving Credit Loans, such request shall be subject to the approval of the Administrative Agent and each of the Revolving Credit LendersAgent; and in the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Administrative Agent and the applicable L/C Issuer.
(b) Any such request shall be made in writing to the Administrative Agent not later than 11:00 a.m., ten (10) 5 Business Days prior to the date of the desired Credit Extension Event (or such other time or date as may be agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the relevant L/C Issuer Issuer, in its reasonable or their sole discretion). In the case of any such request pertaining to Revolving Credit Eurocurrency Loans, the Administrative Agent shall promptly notify each Revolving Credit Facility Lender of the applicable Class thereof, ; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the relevant L/C Issuer thereof. Each such Revolving Credit Facility Lender (in the case of any such request pertaining to Revolving Credit Eurocurrency Loans) and or the relevant L/C Issuer (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m., five (5) 4 Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Credit Eurocurrency Loans or the issuance of Letters of Credit, as the case may be, in such requested currency.
(c) Any failure by a Revolving Credit Facility Lender or the relevant L/C Issuer Issuer, as the case may be, to respond to such request within the time period specified in the preceding paragraph (b) sentence shall be deemed to be a refusal by such Revolving Credit Facility Lender or the L/C Issuer, as the case may be, to permit Revolving Credit Loans to be made or Letters of Credit, as applicable, Credit to be issued in such requested currency. If the Administrative Agent and all the Revolving Credit Facility Lenders that would be obligated to make Credit Extensions denominated in such requested currency consent to making Revolving Credit Loans in such requested currency, the Administrative Agent shall so notify the Borrower and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Borrowings of Revolving Credit Loans; and if the Administrative Agent and the relevant L/C Issuer consent to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Borrower and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Letter of CreditCredit issuances. If the Administrative Agent shall fail to obtain the requisite consent to any request for an additional currency under this Section 1.121.05, the Administrative Agent shall promptly so notify the Borrower.
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Additional Alternate Currencies. .
(a) The Borrower may from time to time request that Revolving Credit Loans be made and/or Letters of Credit be issued in a currency other than those specifically listed in the definition of “Alternate Currency”; provided that such requested currency is a lawful currency (other than Dollars) that is readily available and freely transferable and convertible into Dollars. In the case of any such request with respect to the making of Revolving Credit Loans, such request shall be subject to the approval of the Administrative Agent and each of the Revolving Credit Lenders; and in the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Administrative Agent and the applicable L/C Issuer.
(b) Any such request shall be made in writing to the Administrative Agent not later than 11:00 a.m., ten (10) Business Days prior to the date of the desired Credit Extension (or such other time or date as may be agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the relevant L/C Issuer in its reasonable discretion). In the case of any such request pertaining to Revolving Credit Loans, the Administrative Agent shall promptly notify each Revolving Credit Lender of the applicable Class thereof, and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the relevant L/C Issuer thereof. Each such Revolving Credit Lender (in the case of any such request pertaining to Revolving Credit Loans) and the relevant L/C Issuer (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m., five (5) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Credit Loans or the issuance of Letters of Credit, in such requested currency.
(c) Any failure by a Revolving Credit Lender or the relevant L/C Issuer to respond to such request within the time period specified in the preceding paragraph (b) shall be deemed to be a refusal by such Revolving Credit Lender or L/C Issuer, as the case may be, to permit Revolving Credit Loans to be made or Letters of Credit, as applicable, to be issued in such requested currency. If the Administrative Agent and all the Revolving Credit Lenders that would be obligated to make Credit Extensions denominated in such requested currency consent to making Revolving Credit Loans in such requested currency, the Administrative Agent shall so notify the Borrower and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Borrowings of Revolving Credit Loans; and if the Administrative Agent and the relevant L/C Issuer consent to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Borrower and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Letter of Credit. If the Administrative Agent shall fail to obtain the requisite consent to any request for an additional currency under this Section 1.121.11, the Administrative Agent shall promptly so notify the Borrower.
(d) Subject to the provisions of Sections 3.04, 3.07, 3.08 and 3.09 and other applicable provisions of this Agreement, each Lender may, at its option, make any Loan available to the Borrower by causing any foreign or domestic branch or Affiliate of such Lender to make such Loan; provided that any exercise of such option shall not affect the obligation of such Borrower to repay such Loan in accordance with the terms of this Agreement.
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Additional Alternate Currencies. (a) The Borrower may from time to time request that Revolving Credit Loans be made and/or Alternate Currency Letters of Credit be issued in a currency other than those specifically listed in the definition of “Alternate Currency”; provided that such requested currency is a lawful currency (other than DollarsDollars and Euro) that is readily available and freely transferable and convertible into Dollars. In the case of any such request with respect to the making of Revolving Credit Loans, such Such request shall be subject to the approval of the Administrative Agent and each of the Revolving Credit Lenders; and in the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Administrative Agent and the applicable L/C IssuerAgent.
(b) Any such request shall be made in writing to the Administrative Agent not later than 11:00 a.m., ten five (105) Business Days prior to the date of the desired Alternate Currency Letter of Credit Extension (or such other time or date as may be agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the relevant applicable L/C Issuer Issuer, in its reasonable discretionsole discretion with notice to the Agent). In the case of any such request pertaining to Revolving Credit Loans, the Administrative The Agent shall promptly notify each Revolving Credit Lender of the applicable Class thereof, and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the relevant L/C Issuer thereof. Each such Revolving Credit Lender (in the case of any such request pertaining to Revolving Credit Loans) and the relevant The applicable L/C Issuer (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m., five three (53) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Credit Loans or the issuance of Alternate Currency Letters of Credit, Credit in such requested currency.
(c) . Any failure by a Revolving Credit Lender or the relevant applicable L/C Issuer to respond to such request within the time period specified in the preceding paragraph (b) sentence shall be deemed to be a refusal by such Revolving Credit Lender or the applicable L/C Issuer, as the case may be, Issuer to permit Revolving Credit Loans to be made or Alternate Currency Letters of Credit, as applicable, Credit to be issued in such requested currency. If the Administrative Agent and all the Revolving Credit Lenders that would be obligated to make Credit Extensions denominated in such requested currency consent to making Revolving Credit Loans in such requested currency, the Administrative Agent shall so notify the Borrower and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Borrowings of Revolving Credit Loans; and if the Administrative Agent and the relevant applicable L/C Issuer consent to the issuance of Alternate Currency Letters of Credit in such requested currency, the Administrative Agent shall so notify the Borrower and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Letter of CreditCredit issuances by such L/C Issuer. If the Administrative Agent shall fail to obtain the requisite consent to any request for an additional currency under this Section 1.121.10, the Administrative Agent shall promptly so notify the Borrower.
(c) If Alternate Currencies are agreed to by the Agent pursuant to the definition thereof or this Section 1.10 upon request by the Borrower, this Agreement may be amended with the consent of the Agent, the Borrower and each L/C Issuer (and without the consent of any Lender) to incorporate the Agent’s customary operational and agency provisions with respect to such Letters of Credit requested to be denominated in such currencies.
Appears in 1 contract
Samples: Credit Agreement (Foot Locker, Inc.)
Additional Alternate Currencies. (a) The Any Borrower may from time to time request that Eurocurrency Rate Revolving Credit Loans be made and/or Letters of Credit be issued in a currency other than those specifically listed in the definition of “Alternate Currency”Dollars or Euros; provided that such requested currency is a lawful currency (other than DollarsDollars or Euros) that is readily available and freely transferable and convertible into DollarsDollars or Euros. In the case of any such request with respect to the making of Eurocurrency Rate Revolving Credit Loans, such request shall be subject to the approval of the Administrative Agent and each of the Revolving Credit Lenders; Lenders of the applicable Class that will provide such Loans, and in the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Administrative Agent and the applicable L/C IssuerIssuing Banks, in each case as set forth in Section 9.02(b)(ii)(E).
(b) Any such request shall be made in writing to the Administrative Agent not later than 11:00 a.m., ten (10) Business Days prior to the date of the desired Credit Extension (or such other time or date as may be agreed by each of the Administrative Agent Revolving Lenders and, in the case of any such request pertaining to Letters of Credit, the relevant L/C Issuer Issuing Bank, in its reasonable or their sole discretion). In the case of any such request pertaining to Eurocurrency Rate Revolving Credit Loans, the Administrative Agent shall promptly notify each Revolving Credit Lender of the applicable Class thereof, ; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the relevant L/C Issuer Issuing Bank thereof. Each such applicable Revolving Credit Lender (in the case of any such request pertaining to Eurocurrency Rate Revolving Credit Loans) and the or each relevant L/C Issuer Issuing Bank (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m., five (5) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Eurocurrency Rate Revolving Credit Loans or the issuance of Letters of Credit, as the case may be, in such requested currency.
(c) Any failure by a any Revolving Credit Lender or the relevant L/C Issuer Issuing Bank, as the case may be, to respond to such request within the time period specified in the preceding paragraph (b) shall be deemed to be a refusal by such Revolving Credit Lender or L/C IssuerIssuing Bank, as the case may be, to permit Eurocurrency Rate Revolving Credit Loans to be made or Letters of CreditCredit to be issued, as applicable, to be issued in such requested currency. If the Administrative Agent and all the applicable Revolving Credit Lenders that would be obligated to make Credit Extensions denominated in such requested currency consent to making Revolving Loans or issuing Letters of Credit Loans in such requested currency, the Administrative Agent shall so notify the Borrower Borrower, and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Borrowings of Revolving Credit Loans; and if the Administrative Agent hereunder, and the relevant L/C Issuer consent Borrower and the Revolving Lenders shall amend this Agreement and the other Loan Documents as necessary to the issuance of accommodate such Borrowings and/or Letters of Credit (as applicable), in such requested currency, the Administrative Agent shall so notify the Borrower and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Letter of Creditaccordance with Section 9.02(b)(ii)(E). If the Administrative Agent shall fail fails to obtain the requisite consent to any request for an additional currency under this Section 1.121.10, the Administrative Agent shall promptly so notify the Borrower. Notwithstanding anything to the contrary herein, to the extent that the Eurocurrency Rate and/or the Alternate Base Rate is not applicable to or available with respect to any Revolving Loan denominated in any Alternate Currency, the components of the interest rate applicable to such Revolving Loan shall be separately agreed by the Borrower and the Administrative Agent.
Appears in 1 contract
Samples: First Lien Credit Agreement (Ranpak Holdings Corp.)
Additional Alternate Currencies. (a) The Borrower may from time to time request that Eurocurrency Revolving Credit Loans be made and/or Letters of Credit be issued in a currency other than those specifically listed in the definition of “Alternate Currency”; provided that provided, that, (i) such requested currency is an Eligible Currency and (ii) such requested currency shall only be treated as a lawful currency (other than Dollars) “LIBOR Quoted Currency” to the extent that there is readily available and freely transferable and convertible into Dollarsa published LIBOR rate for such currency. In the case of any such request with respect to the making of Eurocurrency Revolving Credit Loans, such request shall be subject to the approval of the Administrative Agent and each of the Revolving Credit LendersLender; and in the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Administrative Agent and the applicable L/C IssuerIssuing Bank.
(b) Any such request shall be made in writing to the Administrative Agent not later than 11:00 a.m., ten twenty (1020) Business Days prior to the date of the desired Credit Extension (or such other time or date as may be agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the relevant L/C Issuer applicable Issuing Bank, in its reasonable or their sole discretion). In the case of any such request pertaining to Eurocurrency Revolving Credit Loans, the Administrative Agent shall promptly notify each Revolving Credit Lender of the applicable Class thereof, ; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the relevant L/C Issuer applicable Issuing Bank thereof. Each such Revolving Credit Lender (in the case of any such request pertaining to Eurocurrency Revolving Credit Loans) and or the relevant L/C Issuer applicable Issuing Bank (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m., five ten (510) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Eurocurrency Revolving Credit Loans or the issuance of Letters of Credit, as the case may be, in such requested currency.
(c) Any failure by a Revolving Credit Lender or an Issuing Bank, as the relevant L/C Issuer case may be, to respond to such request within the time period specified in the preceding paragraph (bSection 1.09(b) shall be deemed to be a refusal by such Revolving Credit Lender or L/C Issuersuch Issuing Bank, as the case may be, to permit Eurocurrency Revolving Credit Loans to be made or Letters of Credit, as applicable, Credit to be issued in such requested currency. If the Administrative Agent and all the Revolving Credit Lenders that would be obligated consent to make Credit Extensions denominated making Eurocurrency Revolving Loans in such requested currency consent and the Administrative Agent and the Revolving Lenders reasonably determine that an appropriate interest rate is available to making Revolving Credit Loans in be used for such requested currency, the Administrative Agent shall so notify the Borrower and (i) the Administrative Agent and the Revolving Lenders may amend the definition of LIBOR Rate for any Non-LIBOR Quoted Currency to the extent necessary to add the applicable LIBOR Rate for such currency and (ii) to the extent the definition of LIBOR Rate reflects the appropriate interest rate for such currency or has been amended to reflect the appropriate rate for such currency, such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Borrowings of Eurocurrency Revolving Credit Loans; and if . If the Administrative Agent and the relevant L/C Issuer applicable Issuing Bank consent to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Borrower and (A) the Administrative Agent and such Issuing Bank may amend the definition of LIBOR Rate for any Non-LIBOR Quoted Currency to the extent necessary to add the applicable LIBOR Rate for such currency and (B) to the extent the definition of LIBOR Rate reflects the appropriate interest rate for such currency or has been amended to reflect the appropriate rate for such currency, such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Letter of CreditCredit issuances. If the Administrative Agent shall fail to obtain the requisite consent to any request for an additional currency under this Section 1.121.09, the Administrative Agent shall promptly so notify the Borrower.
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Additional Alternate Currencies. (ai) The Borrower may from time to time request that Revolving Credit Loans be made and/or Letters of Credit be issued in a currency other than those specifically listed in the definition of “Alternate Currency”; provided that such requested currency is a lawful currency (other than Dollars) that is readily available and freely transferable and convertible into Dollars. In the case of any such request with respect to the making of Revolving Credit Loans, such request shall be subject to the approval of the Administrative Agent and each of the Revolving Credit Lenders; and in the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Administrative Agent and the applicable L/C Issuer.
(bii) Any such request shall be made in writing to the Administrative Agent not later than 11:00 a.m., ten (10) Business Days prior to the date of the desired Credit Extension (or such other time or date as may be agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the relevant L/C Issuer in its reasonable discretion). In the case of any such request pertaining to Revolving Credit Loans, the Administrative Agent shall promptly notify each Revolving Credit Lender of the applicable Class thereof, and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the relevant L/C Issuer thereof. Each such Revolving Credit Lender (in the case of any such request pertaining to Revolving Credit Loans) and the relevant L/C Issuer (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m., five (5) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Credit Loans or the issuance of Letters of Credit, in such requested currency.
(ciii) Any failure by a Revolving Credit Lender or the relevant L/C Issuer to respond to such request within the time period specified in the preceding paragraph (b) shall be deemed to be a refusal by such Revolving Credit Lender or L/C Issuer, as the case may be, to permit Revolving Credit Loans to be made or Letters of Credit, as applicable, to be issued in such requested currency. If the Administrative Agent and all the Revolving Credit Lenders that would be obligated to make Credit Extensions denominated in such requested currency consent to making Revolving Credit Loans in such requested currency, the Administrative Agent shall so notify the Borrower and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Borrowings of Revolving Credit Loans; and if the Administrative Agent and the relevant L/C Issuer consent to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Borrower and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Letter of Credit. If the Administrative Agent shall fail to obtain the requisite consent to any request for an additional currency under this Section 1.12Section 1.11, the Administrative Agent shall promptly so notify the Borrower.
(iv) Subject to the provisions of Sections 3.04, 3.07, 3.08 and 3.09 and other applicable provisions of this Agreement, each Lender may, at its option, make any Loan available to the Borrower by causing any foreign or domestic branch or Affiliate of such Lender to make such Loan; provided that any exercise of such option shall not affect the obligation of such Borrower to repay such Loan in accordance with the terms of this Agreement.
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Additional Alternate Currencies. (ai) The Borrower Company may from time to time request that Revolving Credit Loans be made and/or Letters of Credit be issued in a currency other than Dollars and those specifically listed in the definition of “Alternate CurrencyCurrencies”; provided that such requested currency is a lawful currency (other than Dollars) that is readily available and freely transferable and convertible into Dollars. In the case of any such request with respect to the making of Revolving Credit LoansLoans in any additional Alternate Currency, such request shall be subject to the approval of the Administrative Agent and each of the Revolving Credit LendersLenders of the applicable Class; and in the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Administrative Agent and the each applicable L/C IssuerIssuing Bank.
(bii) Any such request shall be made in writing to the Administrative Agent not later than 11:00 a.m., ten fifteen (1015) Business Days prior to the date of the first desired Credit Extension borrowing of Loans in such additional Alternate Currency (or such other time or date as may be agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the relevant L/C Issuer Issuing Banks, in its reasonable or their sole discretion). In the case of any such request pertaining to Revolving Credit Alternate Currency Loans, the Administrative Agent shall promptly notify each Revolving Credit Lender of the applicable Class thereof, ; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall also promptly notify the relevant L/C Issuer each applicable Issuing Bank thereof. Each such Revolving Credit Lender of the applicable Class (in the case of any such request pertaining to Revolving Credit Loans) and the relevant L/C Issuer each applicable Issuing Bank (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m., five ten (510) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Credit Loans Loans, or the issuance of Letters of Credit, as the case may be, in such requested currency.
(ciii) Any failure by a Revolving Credit Lender or an Issuing Bank, as the relevant L/C Issuer case may be, to respond to such request within the time period specified in the preceding paragraph (b) sentence shall be deemed to be a refusal by such Revolving Credit Lender or L/C Issuersuch Issuing Bank, as the case may be, to permit Revolving Credit Loans to be made or Letters of Credit, as applicable, Credit to be issued in such requested currency. If the Administrative Agent and all the Revolving Credit Lenders that would be obligated to make Credit Extensions denominated in such requested currency consent to making Revolving Credit Loans in such requested currency, the Administrative Agent shall so notify the Borrower Company and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Borrowings borrowings of Revolving Credit LoansLoans of the applicable Class; and if the Administrative Agent and the relevant L/C Issuer each applicable Issuing Bank consent to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Borrower Company and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Letter of CreditCredit issuances. If the Administrative Agent shall fail to obtain the requisite consent to any request for an additional currency under this Section 1.121.05, the Administrative Agent shall promptly so notify the BorrowerCompany, and the Company may replace such non-consenting Lender, subject to Section 12.05(b). Any specified currency of an Existing Letter of Credit that is neither Dollars nor one of the Alternate Currencies specifically listed in the definition of “Alternate Currencies” shall be deemed an Alternate Currency with respect to such Existing Letter of Credit only.
Appears in 1 contract
Samples: Credit Agreement (Iron Mountain Inc)
Additional Alternate Currencies. (a) The Any Borrower may from time to time request that Eurocurrency Rate Revolving Credit Loans be made and/or Letters of Credit be issued in a currency other than those specifically listed in the definition of “Alternate Currency”Dollars or Euros; provided that such requested currency is a lawful currency (other than DollarsDollars or Euros) that is readily available and freely transferable and convertible into DollarsDollars or Euros. In the case of any such request with respect to the making of Eurocurrency Rate Revolving Credit Loans, such request shall be subject to the approval of the Administrative Agent and each of the Revolving Credit Lenders; Lenders of the applicable Class that will provide such Loans, and in the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Administrative Agent and the applicable L/C IssuerIssuing Banks, in each case as set forth in Section 9.02(b)(ii)(E).
(b) Any such request shall be made in writing to the Administrative Agent not later than 11:00 a.m., ten (10) Business Days prior to the date of the desired Credit Extension (or such other time or date as may be agreed by each of the Administrative Agent Revolving Lenders and, in the case of any such request pertaining to Letters of Credit, the relevant L/C Issuer Issuing Bank, in its reasonable or their sole discretion). In the case of any such request pertaining to Eurocurrency Rate Revolving Credit Loans, the Administrative Agent shall promptly notify each Revolving Credit Lender of the applicable Class thereof, ; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the relevant L/C Issuer Issuing Bank thereof. Each such applicable Revolving Credit Lender (in the case of any such request pertaining to Eurocurrency Rate Revolving Credit Loans) and the or each relevant L/C Issuer Issuing Bank (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m., five (5) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Eurocurrency Rate Revolving Credit Loans or the issuance of Letters of Credit, as the case may be, in such requested currency.
(c) Any failure by a any Revolving Credit Lender or the relevant L/C Issuer Issuing Bank, as the case may be, to respond to such request within the time period specified in the preceding paragraph (b) shall be deemed to be a refusal by such Revolving Credit Lender or L/C IssuerIssuing Bank, as the case may be, to permit Eurocurrency Rate Revolving Credit Loans to be made or Letters of CreditCredit to be issued, as applicable, to be issued in such requested currency. If the Administrative Agent and all the applicable Revolving Credit Lenders that would be obligated to make Credit Extensions denominated in such requested currency consent to making Revolving Loans or issuing Letters of Credit Loans in such requested currency, the Administrative Agent shall so notify the Borrower Borrower, and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Borrowings of Revolving Credit Loans; and if the Administrative Agent hereunder, and the relevant L/C Issuer consent Borrower and the Revolving Lenders shall amend this Agreement and the other Loan Documents as necessary to the issuance of accommodate such Borrowings and/or Letters of Credit (as applicable), in such requested currency, the Administrative Agent shall so notify the Borrower and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Letter of Creditaccordance with Section 9.02(b)(ii)(E). If the Administrative Agent shall fail fails to obtain the requisite consent to any request for an additional currency under this Section 1.121.10, the Administrative Agent shall promptly so notify the Borrower. Notwithstanding anything to the contrary herein, to the extent that the Eurocurrency Rate is not applicable to or available with respect to any Revolving Loan denominated in any Alternate Currency, the components of the interest rate applicable to such Revolving Loan shall be separately agreed by the Borrower and the Administrative Agent.
Appears in 1 contract
Samples: First Lien Credit Agreement (Ranpak Holdings Corp.)
Additional Alternate Currencies. (a) The Borrower may from time to time request that Revolving Credit Loans be made and/or Letters of Credit be issued in a currency other than those specifically listed in the definition of “Alternate Currency”Dollars; provided that such the relevant requested currency is a lawful currency (other than Dollars) that is readily available and freely transferable and convertible into Dollars. In the case of any such request with respect to the making of Revolving Credit Loans, such request shall be subject to the approval of the Administrative Agent and each of the Revolving Credit LendersLender in their sole discretion; and and, in the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Administrative Agent and the each applicable L/C IssuerIssuing Bank.
(b) Any such request shall be made in writing to the Administrative Agent in writing not later than 11:00 a.m., ten (10) a.m. 10 Business Days prior to the date of the desired Credit Extension (or such other time or date as may be agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the relevant L/C Issuer in its reasonable discretionAgent). In the case of any such request pertaining to Revolving Credit Loans, the Administrative Agent shall promptly notify each Revolving Credit Lender of the applicable Class thereof, and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the relevant L/C Issuer each applicable Issuing Bank thereof. Each such Revolving Credit Lender (in the case of any such request pertaining to Revolving Credit Loans) and the relevant L/C Issuer each applicable Issuing Bank (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m., five (5) 5 Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Credit Loans or the issuance of Letters of Credit, as the case may be, in such requested currency.
(c) Any failure by a any Revolving Credit Lender or the relevant L/C Issuer Issuing Bank, as the case may be, to respond to such request within the time period specified in the preceding paragraph (b) shall be deemed to be a refusal by such Revolving Credit Lender or L/C IssuerIssuing Bank, as the case may be, to permit Revolving Credit Loans to be made or Letters of CreditCredit to be issued, as applicable, to be issued in such requested currency. If the Administrative Agent and all the Revolving Credit Lenders that would be obligated to make Credit Extensions denominated in such requested currency consent to making Revolving Credit Loans in such requested currency, the Administrative Agent shall so notify the Borrower Borrower, and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Borrowings Borrowing of Revolving Credit Loans; and if the Administrative Agent and the relevant L/C Issuer each applicable Issuing Bank consent to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Borrower and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Letter of CreditCredit issuances. If the Administrative Agent shall fail fails to obtain the requisite consent to any request for an additional currency under this Section 1.121.10, the Administrative Agent shall promptly so notify the Borrower.
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Additional Alternate Currencies. (a) The Borrower Company may from time to time request that Revolving Credit Eurocurrency Rate Loans be made and/or Letters of Credit be issued in a currency other than those specifically listed in the definition of “Alternate Alternative Currency”; provided that provided, that, such requested currency is a lawful currency (other than Dollars) that is readily available and freely transferable and convertible into Dollarsan Eligible Currency. In the case of any such request with respect to the making of Revolving Credit Eurocurrency Rate Loans, such request shall be subject to the approval of the Administrative Agent and each of the Revolving Credit LendersLender; and in the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Administrative Agent and the applicable each L/C Issuer.
(b) Any such request shall be made in writing to the Administrative Agent not later than 11:00 a.m., ten twenty (1020) Business Days prior to the date of the desired Credit Extension (or such other time or date as may be agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the relevant each L/C Issuer Issuer, in its reasonable or their sole discretion). In the case of any such request pertaining to Revolving Credit Eurocurrency Rate Loans, the Administrative Agent shall promptly notify each Revolving Credit Lender of the applicable Class thereof, ; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the relevant each L/C Issuer thereof. Each such Revolving Credit Lender (in the case of any such request pertaining to Revolving Credit Eurocurrency Rate Loans) and the relevant or each L/C Issuer (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m., five ten (510) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Credit Eurocurrency Rate Loans or the issuance of Letters of Credit, as the case may be, in such requested currency.
(c) Any failure by a Revolving Credit Lender or the relevant an L/C Issuer Issuer, as the case may be, to respond to such request within the time period specified in the preceding paragraph (bSection 1.06(b) shall be deemed to be a refusal by such Revolving Credit Lender or L/C Issuer, as the case may be, to permit Revolving Credit Eurocurrency Rate Loans to be made or Letters of Credit, as applicable, Credit to be issued in such requested currency. If the Administrative Agent and all the Revolving Credit Lenders that would be obligated to make Credit Extensions denominated in such requested currency consent to making Revolving Credit Eurocurrency Rate Loans in such requested currency, the Administrative Agent shall so notify the Borrower Company and such currency shall thereupon be deemed for all purposes to be an Alternate Alternative Currency hereunder for purposes of any Borrowings of Revolving Credit Eurocurrency Rate Loans; and if the Administrative Agent and the relevant any L/C Issuer consent to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Borrower Company and such currency shall thereupon be deemed for all purposes purposes, but solely as to the Letters of Credit issued by such L/C Issuer, to be an Alternate Alternative Currency hereunder for purposes of any Letter of CreditCredit issuances by such L/C Issuer. If the Administrative Agent shall fail to obtain the requisite consent to any request for an additional currency under this Section 1.121.08, the Administrative Agent shall promptly so notify the BorrowerCompany.
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Additional Alternate Currencies. (a) The Borrower may from time to time request that Revolving Credit Euro-Dollar Loans be made and/or Letters of Credit be issued in a currency other than those specifically listed in the definition of “Alternate Currency”” or previously approved in accordance with this Section 2.10; provided that such requested currency is a lawful currency (other than Dollars) that is readily available and freely transferable and convertible into Dollars. In the case of any such request with respect to the making of Revolving Credit Euro-Dollar Loans, such request shall be subject to the approval of the Administrative Agent and each all of the Revolving Credit LendersBanks that hold an Alternative Currency Commitment; and in the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Administrative Agent and the applicable L/C IssuerFronting Bank.
(b) Any such request shall be made in writing to the Administrative Agent not later than 11:00 a.m.a.m. (Chicago, ten Illinois time), twenty (1020) Business Days prior to the date of the desired Credit Extension Borrowing or issuance (or such other time or date as may be agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the relevant L/C Issuer applicable Fronting Bank, in its reasonable or their sole discretion). In the case of any such request pertaining to Revolving Credit Euro-Dollar Loans, the Administrative Agent shall promptly notify each Revolving Credit Lender of the applicable Class Bank thereof, ; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the relevant L/C Issuer applicable Fronting Bank thereof. Each such Revolving Credit Lender Bank (in the case of any such request pertaining to Revolving Credit Euro-Dollar Loans) and or the relevant L/C Issuer applicable Fronting Bank (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m.a.m. (Chicago, five Illinois time), ten (510) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Credit Euro-Dollar Loans or the issuance of Letters of Credit, as the case may be, in such requested currency.
(c) Any failure by a Revolving Credit Lender Bank or the relevant L/C Issuer applicable Fronting Bank, as the case may be, to respond to such request within the time period specified in the preceding paragraph (b) sentence shall be deemed to be a refusal by such Revolving Credit Lender Bank or L/C Issuersuch Fronting Bank, as the case may be, to permit Revolving Credit Euro-Dollar Loans to be made or Letters of Credit, as applicable, Credit to be issued in such requested currency. If the Administrative Agent and all the Revolving Credit Lenders that would be obligated to make Credit Extensions denominated in such requested currency Banks consent to making Revolving Credit Euro-Dollar Loans in such requested currency, the Administrative Agent shall so notify the Borrower and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Committed Borrowings of Revolving Credit Euro-Dollar Loans; and if the Administrative Agent and the relevant L/C Issuer applicable Fronting Bank consent to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Borrower and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Letter of CreditCredit issuances. If the Administrative Agent shall fail to obtain the requisite consent to any request for an additional currency under this Section 1.122.10, the Administrative Agent shall promptly so notify the Borrower.
Appears in 1 contract
Samples: Revolving Credit Agreement (Erp Operating LTD Partnership)
Additional Alternate Currencies. (a) The Borrower Company may from time to time request that Revolving Credit Loans be made and/or Letters of Credit be issued in a currency other than Dollars and those specifically listed in the definition of “Alternate Currency”; Currencies”; provided that such requested currency is a lawful currency (other than Dollars) that is readily available and freely transferable and convertible into Dollars. In the case of any such request with respect to the making of Revolving Credit LoansLoans in any additional Alternate Currency, such request shall be subject to the approval of the Administrative Agent and each of the Revolving Credit Lenders; Lenders of the applicable Class; and in the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Administrative Agent and the each applicable L/C IssuerIssuing Bank.
(b) Any such request shall be made in writing to the Administrative Agent not later than 11:00 a.m., ten fifteen (1015) Business Days prior to the date of the first desired Credit Extension borrowing of Loans in such additional Alternate Currency (or such other time or date as may be agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the relevant L/C Issuer Issuing Banks, in its reasonable or their sole discretion). In the case of any such request pertaining to Revolving Credit Alternate Currency Loans, the Administrative Agent shall promptly notify each Revolving Credit Lender of the applicable Class thereof, thereof; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall also promptly notify the relevant L/C Issuer each applicable Issuing Bank thereof. Each such Revolving Credit Lender of the applicable Class (in the case of any such request pertaining to Revolving Credit Loans) and the relevant L/C Issuer each applicable Issuing Bank (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m., five ten (510) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Credit Loans Loans, or the issuance of Letters of Credit, as the case may be, in such requested currency.
(c) Any failure by a Revolving Credit Lender or an Issuing Bank, as the relevant L/C Issuer case may be, to respond to such request within the time period specified in the preceding paragraph (b) sentence shall be deemed to be a refusal by such Revolving Credit Lender or L/C Issuersuch Issuing Bank, as the case may be, to permit Revolving Credit Loans to be made or Letters of Credit, as applicable, Credit to be issued in such requested currency. If the Administrative Agent and all the Revolving Credit Lenders that would be obligated to make Credit Extensions denominated in such requested currency consent to making Revolving Credit Loans in such requested currency, the Administrative Agent shall so notify the Borrower Company and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Borrowings borrowings of Revolving Credit Loans; Loans of the applicable Class; and if the Administrative Agent and the relevant L/C Issuer each applicable Issuing Bank consent to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Borrower Company and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Letter of CreditCredit issuances. If the Administrative Agent shall fail to obtain the requisite consent to any request for an additional currency under this Section 1.121.05, the Administrative Agent shall promptly so notify the BorrowerCompany, and the Company may replace such non-consenting Lender, subject to Section 12.05(b). Any specified currency of an Existing Letter of Credit that is neither Dollars nor one of the Alternate Currencies specifically listed in the definition of “Alternate Currencies” shall be deemed an Alternate Currency with respect to such Existing Letter of Credit only.
Appears in 1 contract
Samples: Credit Agreement (Iron Mountain Inc)
Additional Alternate Currencies. (a) The Borrower may from time to time request that Revolving Credit Loans be made and/or Letters of Credit be issued in a currency other than those specifically listed in the definition of “Alternate Currency”; provided that such requested currency is a lawful currency (other than Dollars) that is readily available and freely transferable and convertible into Dollars. In the case of any such request with respect to the making of Revolving Credit Loans, such request shall be subject to the approval of the Administrative Agent and each of the Revolving Credit Lenders; and in the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Administrative Agent and the applicable L/C Issuer.. 73
(b) Any such request shall be made in writing to the Administrative Agent not later than 11:00 a.m., ten (10) Business Days prior to the date of the desired Credit Extension (or such other time or date as may be agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the relevant L/C Issuer in its reasonable discretion). In the case of any such request pertaining to Revolving Credit Loans, the Administrative Agent shall promptly notify each Revolving Credit Lender of the applicable Class thereof, and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the relevant L/C Issuer thereof. Each such Revolving Credit Lender (in the case of any such request pertaining to Revolving Credit Loans) and the relevant L/C Issuer (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m., five (5) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Credit Loans or the issuance of Letters of Credit, in such requested currency.
(c) Any failure by a Revolving Credit Lender or the relevant L/C Issuer to respond to such request within the time period specified in the preceding paragraph (b) shall be deemed to be a refusal by such Revolving Credit Lender or L/C Issuer, as the case may be, to permit Revolving Credit Loans to be made or Letters of Credit, as applicable, to be issued in such requested currency. If the Administrative Agent and all the Revolving Credit Lenders that would be obligated to make Credit Extensions denominated in such requested currency consent to making Revolving Credit Loans in such requested currency, the Administrative Agent shall so notify the Borrower and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Borrowings of Revolving Credit Loans; and if the Administrative Agent and the relevant L/C Issuer consent to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Borrower and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Letter of Credit. If the Administrative Agent shall fail to obtain the requisite consent to any request for an additional currency under this Section 1.121.11, the Administrative Agent shall promptly so notify the Borrower.
(d) Subject to the provisions of Sections 3.04, 3.07, 3.08 and 3.09 and other applicable provisions of this Agreement, each Lender may, at its option, make any Loan available to the Borrower by causing any foreign or domestic branch or Affiliate of such Lender to make such Loan; provided that any exercise of such option shall not affect the obligation of such Borrower to repay such Loan in accordance with the terms of this Agreement.
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