Additional Alternate Currencies. (a) The Administrative Borrower may from time to time request that Revolving 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 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 Loans, such request shall be subject to the approval of the Administrative Agent and the Revolving 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 Issuing Bank. (b) Any such request shall be made to the Administrative Agent not later than 11:00 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 Issuing Bank, in its or their sole discretion). In the case of any such request pertaining to Revolving Loans, the Administrative Agent shall promptly notify each Revolving Lender thereof, in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the relevant Issuing Bank thereof. Each such Revolving Lender (in the case of any such request pertaining to Revolving Loans), the relevant 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 Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Loans or the issuance of Letters of Credit, as the case may be, in such requested currency. (c) Any failure by any Revolving Lender or the relevant 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 Lender or Issuing Bank, as the case may be, to permit Revolving Loans to be made or Letters of Credit to be issued, as applicable, in such requested currency. If the Administrative Agent and all the Revolving Lenders that would be obligated to make Credit Extensions denominated in such requested currency consent to making Revolving Loans 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 Borrowing of Revolving Loans; and if the Administrative Agent and the relevant 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 Credit issuances. If the Administrative Agent fails to obtain the requisite consent to any request for an additional currency under this Section 1.11, 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 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 the relevant 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, 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 Issuing BankL/C Issuer.
(b) Any such request shall be made in writing to the Administrative Agent not later than 11:00 a.m. 10 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 Issuing Bank, L/C Issuer in its or their sole 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 Issuing Bank L/C Issuer thereof. Each such Revolving Credit Lender (in the case of any such request pertaining to Revolving Credit Loans), ) and the relevant Issuing Bank 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, as the case may be, in such requested currency.
(c) Any failure by any a Revolving Credit Lender or the relevant Issuing Bank, as the case may be, 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 Issuing BankL/C Issuer, as the case may be, to permit Revolving Credit Loans to be made or Letters of Credit to be issuedCredit, 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 Administrative Borrower, Borrower and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Borrowing Borrowings of Revolving Credit Loans; and if the Administrative Agent and the relevant Issuing Bank L/C Issuer 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 Credit issuancesCredit. If the Administrative Agent fails shall fail to obtain the requisite consent to any request for an additional currency under this Section 1.111.12, 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 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 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 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 Loans, such request shall be subject to the approval of the Administrative Agent and the Revolving 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 Issuing BankLender.
(b) Any such request shall be made to the Administrative Agent not later than 11:00 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 Issuing BankLender, in its or their sole discretion). In the case of any such request pertaining to Revolving Loans, the Administrative Agent shall promptly notify each Revolving Lender thereof, in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the relevant Issuing Bank Lender thereof. Each such Revolving Lender (in the case of any such request pertaining to Revolving Loans), the relevant Issuing Bank 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 10 Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Loans or the issuance of Letters of Credit, as the case may be, in such requested currency.
(c) Any failure by any Revolving Lender or the relevant Issuing BankLender, 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 Lender or Issuing BankLender, as the case may be, to permit Revolving Loans to be made or Letters of Credit to be issued, as applicable, in such requested currency. If the Administrative Agent and all the Revolving Lenders that would be obligated to make Credit Extensions Revolving Loans denominated in such requested currency consent to making Revolving Loans 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 Borrowing borrowing of Revolving Loans; and if the Administrative Agent and the relevant Issuing Bank Lender 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 Credit issuances. If the Administrative Agent fails to obtain the requisite consent to any request for an additional currency under this Section 1.111.7, 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 2 contracts
Samples: Credit Agreement (2U, Inc.), Credit Agreement (2U, Inc.)
Additional Alternate Currencies. (a) The Administrative Borrower may from time to time request that Revolving 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 the relevant 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 Eurodollar Rate Loans, such request shall be subject to the approval of the Administrative Agent and the Revolving 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 Issuing BankL/C Issuer.
(b) Any such request shall be made to the Administrative Agent not later than 11:00 a.m. 10 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 Issuing BankL/C Issuer, in its or their sole discretion). In the case of any such request pertaining to Revolving Eurodollar Rate Loans, the Administrative Agent shall promptly notify each Revolving Lender thereof, ; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the relevant Issuing Bank L/C Issuer thereof. Each such Revolving Lender (in the case of any such request pertaining to Revolving Eurodollar Rate Loans), ) or the relevant Issuing Bank 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 Eurodollar Rate Loans or the issuance of Letters of Credit, as the case may be, in such requested currency.
(c) Any failure by any Revolving a Lender or the relevant Issuing BankL/C 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 Lender or Issuing Bankthe L/C Issuer, as the case may be, to permit Revolving Eurodollar Rate Loans to be made or Letters of Credit to be issued, as applicable, issued in such requested currency. If the Administrative Agent and all the Revolving Lenders that would be obligated to make Credit Extensions denominated in such requested currency consent to making Revolving Eurodollar Rate Loans in such requested currency, the Administrative Agent shall so notify the Administrative Borrower, Borrower and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Borrowing Borrowings of Revolving Eurodollar Rate Loans; and if the Administrative Agent and the relevant Issuing Bank L/C Issuer 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 Credit issuances. If the Administrative Agent fails shall fail to obtain the requisite consent to any request for an additional currency under this Section 1.111.09, 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 2 contracts
Samples: Credit Agreement (Visteon Corp), Credit Agreement (Visteon Corp)
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 the relevant 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, 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 Issuing BankL/C Issuer.
(b) Any such request shall be made to the Administrative Agent not later than 11:00 a.m. 10 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 Issuing Bank, L/C Issuer in its or their sole 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 Issuing Bank L/C Issuer thereof. Each such Revolving Credit Lender (in the case of any such request pertaining to Revolving Credit Loans), ) and the relevant Issuing Bank 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, as the case may be, in such requested currency.
(c) Any failure by any a Revolving Credit Lender or the relevant Issuing Bank, as the case may be, 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 Issuing BankL/C Issuer, as the case may be, to permit Revolving Credit Loans to be made or Letters of Credit to be issuedCredit, 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 Administrative Borrower, Borrower and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Borrowing Borrowings of Revolving Credit Loans; and if the Administrative Agent and the relevant Issuing Bank L/C Issuer 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 Credit issuancesCredit. If the Administrative Agent fails shall fail to obtain the requisite consent to any request for an additional currency under this Section 1.11, the Administrative Agent shall promptly so notify the Administrative Borrower. Notwithstanding anything .
(d) Subject to the contrary hereinprovisions 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 extent 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 Adjusted Eurocurrency Rate and/or obligation of such Borrower to repay such Loan in accordance with the Alternate Base Rate is not applicable to or available with respect to any Revolving Loan denominated in any Alternate Currency, the components terms of the interest rate applicable to such Revolving Loan shall be separately agreed by the Administrative Borrower and the Administrative Agentthis Agreement.
Appears in 2 contracts
Samples: Credit Agreement (Dun & Bradstreet Holdings, Inc.), Credit Agreement (Dun & Bradstreet Holdings, Inc.)
Additional Alternate Currencies. (a) The Administrative Borrower Company may from time to time request that Revolving 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 the relevant 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 LoansLoans in any additional Alternate Currency, such request shall be subject to the approval of the Administrative Agent and each of the Revolving LendersLenders of the applicable Class; 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 Issuing Bank.
(b) Any such request shall be made to the Administrative Agent not later than 11:00 a.m. 10 a.m., fifteen (15) 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 Issuing BankBanks, in its or their sole discretion). In the case of any such request pertaining to Revolving Alternate Currency Loans, the Administrative Agent shall promptly notify each Revolving 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 each applicable Issuing Bank thereof. Each such Revolving Lender of the applicable Class (in the case of any such request pertaining to Revolving Loans), the relevant ) and 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 (10) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Loans Loans, or the issuance of Letters of Credit, as the case may be, in such requested currency.
(c) Any failure by any a Revolving Lender or the relevant an Issuing 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 Lender or such Issuing Bank, as the case may be, to permit Revolving Loans to be made or Letters of Credit to be issued, as applicable, issued in such requested currency. If the Administrative Agent and all the Revolving Lenders that would be obligated to make Credit Extensions denominated in such requested currency consent to making Revolving Loans in such requested currency, the Administrative Agent shall so notify the Administrative Borrower, Company and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Borrowing borrowings of Revolving LoansLoans of the applicable Class; and if the Administrative Agent and the relevant each applicable Issuing Bank consent to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Administrative Borrower Company and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Letter of Credit issuances. If the Administrative Agent fails shall fail to obtain the requisite consent to any request for an additional currency under this Section 1.111.05, the Administrative Agent shall promptly so notify the Administrative BorrowerCompany, and the Company may replace such non-consenting Lender, subject to Section 12.05(b). Notwithstanding anything to the contrary herein, to the extent Any specified currency of an Existing Letter of Credit that the Adjusted Eurocurrency Rate and/or is neither Dollars nor one of the Alternate Base Rate is not applicable to or available Currencies specifically listed in the definition of “Alternate Currencies” shall be deemed an Alternate Currency with respect to any Revolving Loan denominated in any Alternate Currency, the components such Existing Letter of the interest rate applicable to such Revolving Loan shall be separately agreed by the Administrative Borrower and the Administrative AgentCredit only.
Appears in 2 contracts
Samples: Credit Agreement (Iron Mountain Inc), Credit Agreement (Iron Mountain 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 the relevant 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, 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 Issuing BankL/C Issuer.
(b) Any such request shall be made to the Administrative Agent not later than 11:00 a.m. 10 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 Issuing Bank, L/C Issuer in its or their sole 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 Issuing Bank L/C Issuer thereof. Each such Revolving Credit Lender (in the case of any such request pertaining to Revolving Credit Loans), ) and the relevant Issuing Bank 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, as the case may be, in such requested currency.
(c) Any failure by any a Revolving Credit Lender or the relevant Issuing Bank, as the case may be, 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 Issuing BankL/C Issuer, as the case may be, to permit Revolving Credit Loans to be made or Letters of Credit to be issuedCredit, 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 Administrative Borrower, Borrower and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Borrowing Borrowings of Revolving Credit Loans; and if the Administrative Agent and the relevant Issuing Bank L/C Issuer 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 Credit issuancesCredit. If the Administrative Agent fails shall fail to obtain the requisite consent to any request for an additional currency under this Section Section 1.11, the Administrative Agent shall promptly so notify the Administrative Borrower. Notwithstanding anything .
(d) Subject to the contrary hereinprovisions 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 extent 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 Adjusted Eurocurrency Rate and/or obligation of such Borrower to repay such Loan in accordance with the Alternate Base Rate is not applicable to or available with respect to any Revolving Loan denominated in any Alternate Currency, the components terms of the interest rate applicable to such Revolving Loan shall be separately agreed by the Administrative Borrower and the Administrative Agentthis Agreement.
Appears in 2 contracts
Samples: Credit Agreement (Dun & Bradstreet Holdings, Inc.), Credit Agreement (Dun & Bradstreet Holdings, Inc.)
Additional Alternate Currencies. (a) The Administrative Borrower Company may from time to time request that Revolving 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 the relevant 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 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 the Revolving Lenderseach Lender; 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 Issuing Bankeach L/C Issuer.
(b) Any such request shall be made to the Administrative Agent not later than 11:00 a.m. 10 a.m., twenty (20) 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 Issuing Bankeach L/C Issuer, in its or their sole discretion). In the case of any such request pertaining to Revolving Eurocurrency Rate Loans, Alternative Currency Daily Rate Loans and/or Alternative Currency Term Rate Loans, the Administrative Agent shall promptly notify each Revolving Lender thereof, ; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the relevant Issuing Bank each L/C Issuer thereof. Each such Revolving Lender (in the case of any such request pertaining to Revolving Eurocurrency Rate Loans), the relevant Issuing Bank Alternative Currency Daily Rate Loans and/or Alternative Currency Term Rate Loans) 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 (10) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving 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 any Revolving a Lender or the relevant Issuing Bankan L/C 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 Lender or Issuing BankL/C Issuer, as the case may be, to permit Revolving Eurocurrency Rate Loans, Alternative Currency Daily Rate Loans and/or Alternative Currency Term Rate Loans to be made or Letters of Credit to be issued, as applicable, issued in such requested currency. If the Administrative Agent and all the Revolving Lenders that would be obligated to make Credit Extensions denominated in such requested currency consent to making Revolving 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 Administrative Borrower, Company and such currency shall thereupon be deemed for all purposes to be an Alternate Alternative Currency hereunder for purposes of any Borrowing Borrowings of Revolving Eurocurrency Rate Loans, Alternative Currency Daily Rate Loans and/or Alternative Currency Term Rate Loans; and if the Administrative Agent and the relevant Issuing Bank any L/C Issuer consent to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Administrative 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 Credit issuancesissuances by such L/C Issuer. If the Administrative Agent fails shall fail to obtain the requisite consent to any request for an additional currency under this Section 1.111.08, 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 AgentCompany.
Appears in 2 contracts
Samples: Credit Agreement (Analog Devices Inc), Credit Agreement (Analog Devices 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 the relevant 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, 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 Issuing BankL/C Issuer.
(b) Any such request shall be made to the Administrative Agent not later than 11:00 a.m. 10 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 Issuing Bank, L/C Issuer in its or their sole 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 Issuing Bank L/C Issuer thereof. Each such Revolving Credit Lender (in the case of any such request pertaining to Revolving Credit Loans), ) and the relevant Issuing Bank 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 Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Loans or the issuance of Letters of Credit, as the case may be, in such requested currency.
(c) Any failure by any Revolving Lender or the relevant 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 Lender or Issuing Bank, as the case may be, to permit Revolving Loans to be made or Letters of Credit to be issued, as applicable, in such requested currency. If the Administrative Agent and all the Revolving Lenders that would be obligated to make Credit Extensions denominated in such requested currency consent to making Revolving Loans 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 Borrowing of Revolving Loans; and if the Administrative Agent and the relevant 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 Credit issuances. If the Administrative Agent fails to obtain the requisite consent to any request for an additional currency under this Section 1.11, 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.74
Appears in 2 contracts
Samples: Credit Agreement (Dun & Bradstreet Holdings, Inc.), Credit Agreement (Dun & Bradstreet Holdings, Inc.)
Additional Alternate Currencies. (a) The Administrative Borrower may from time to time request that Alternate Currency Revolving 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 the relevant 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 Loans, such request shall be subject to the approval of the Administrative Agent and the each Revolving LendersLender; 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 Issuing Bank.
(b) Any such request shall be made to the Administrative Agent not later than 11:00 a.m. 10 a.m., twenty (20) 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 applicable Issuing Bank, in its or their sole discretion). In the case of any such request pertaining to Alternate Currency Revolving Loans, the Administrative Agent shall promptly notify each Revolving Lender thereof, ; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the relevant applicable Issuing Bank thereof. Each such Revolving Lender (in the case of any such request pertaining to Alternate Currency Revolving Loans), ) or the relevant 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 (10) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Alternate Currency Revolving Loans or the issuance of Letters of Credit, as the case may be, in such requested currency.
(c) Any failure by any a Revolving Lender or the relevant an Issuing 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 Lender or such Issuing Bank, as the case may be, to permit Alternate Currency Revolving Loans to be made or Letters of Credit to be issued, as applicable, issued in such requested currency. If the Administrative Agent and all the Revolving 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 Loans in be used for such requested currency, the Administrative Agent shall so notify Borrower and (i) the Administrative BorrowerAgent 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, and 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 Borrowing Borrowings of Alternate Currency Revolving Loans; and if . If the Administrative Agent and the relevant such Issuing Bank consent to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify Borrower and (iii) the Administrative Borrower 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 Credit issuances. If the Administrative Agent fails shall fail to obtain the requisite consent to any request for an additional currency under this Section 1.111.09, 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 2 contracts
Samples: Credit Agreement (CSG Systems International Inc), Credit Agreement (CSG Systems International Inc)
Additional Alternate Currencies. (a) The Administrative Borrower may from time to time request that Eurocurrency Revolving 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 the relevant 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 Loans, such request shall be subject to the approval of the Administrative Agent and the each Revolving LendersLender; 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 Issuing Bank.
(b) Any such request shall be made to the Administrative Agent not later than 11:00 a.m. 10 a.m., twenty (20) 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 applicable Issuing Bank, in its or their sole discretion). In the case of any such request pertaining to Eurocurrency Revolving Loans, the Administrative Agent shall promptly notify each Revolving Lender thereof, ; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the relevant applicable Issuing Bank thereof. Each such Revolving Lender (in the case of any such request pertaining to Eurocurrency Revolving Loans), ) or the relevant 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 (10) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Eurocurrency Revolving Loans or the issuance of Letters of Credit, as the case may be, in such requested currency.
(c) Any failure by any a Revolving Lender or the relevant an Issuing Bank, as the 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 Lender or such Issuing Bank, as the case may be, to permit Eurocurrency Revolving Loans to be made or Letters of Credit to be issued, as applicable, issued in such requested currency. If the Administrative Agent and all the Revolving 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 Loans in be used for such requested currency, the Administrative Agent shall so notify Borrower and (i) the Administrative BorrowerAgent 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, and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Borrowing Borrowings of Eurocurrency Revolving Loans; and if . If the Administrative Agent and the relevant applicable Issuing Bank consent to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify Borrower and (A) the Administrative Borrower 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 Credit issuances. If the Administrative Agent fails shall fail to obtain the requisite consent to any request for an additional currency under this Section 1.111.09, 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 1 contract
Additional Alternate Currencies. (a) The Administrative Any Borrower may from time to time request that Eurocurrency Rate Revolving Loans be made and/or Letters of Credit be issued in a currency other than those specifically listed in the definition of “Dollars, Euros or a then-available Alternate Currency”; provided that the relevant such requested currency is a lawful currency (other than Dollars, Euros or a then-available Alternate Currency) 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 Loans, such request shall be subject to the approval of the Administrative Agent and each of the Revolving Lenders; andLenders 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 Issuing BankBanks, in each case as set forth in Section 9.02(b)(ii)(E).
(b) Any such request shall be made to the Administrative Agent not later than 11:00 a.m. 10 a.m., ten 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 Issuing BankBanks, in its or their sole discretion). In the case of any such request pertaining to Eurocurrency Rate Revolving Loans, the Administrative Agent shall promptly notify each Revolving Lender thereof, ; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the relevant Issuing Bank thereof. Each such applicable Revolving Lender (in the case of any such request pertaining to Eurocurrency Rate Revolving Loans), the ) or each relevant 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 Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Eurocurrency Rate Revolving Loans or the issuance of Letters of Credit, as the case may be, in such requested currency.
(c) Any failure by any Revolving Lender or the relevant 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 Lender or Issuing Bank, as the case may be, to permit Eurocurrency Rate Revolving Loans to be made or Letters of Credit to be issued, as applicable, in such requested currency. If the Administrative Agent and all the applicable Revolving Lenders that would be obligated to make Credit Extensions denominated in such requested currency consent to making Revolving Loans or issuing 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 Borrowing of with respect to Revolving Loans; and if the Administrative Agent and the relevant Issuing Bank consent to the issuance of Loans and/or Letters of Credit in such requested currency(as applicable), and the Administrative Agent shall so notify the Administrative Borrower and the Revolving Lenders shall amend this Agreement and the other Loan Documents as necessary to accommodate such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Letter Borrowings and/or Letters of Credit issuances(as applicable), in accordance with Section 9.02(b)(ii)(E). If the Administrative Agent fails to obtain the requisite consent to any request for an additional currency under this Section 1.111.10, 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 AgentAgent in accordance with Section 9.02(b)(ii)(E).
Appears in 1 contract
Samples: First Lien Credit Agreement (Ranpak Holdings Corp.)
Additional Alternate Currencies. (a) The Administrative Borrower Parent may from time to time request that Eurocurrency Rate Revolving 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 the relevant 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 Loans, such request shall be subject to the approval of the Administrative Agent and the Revolving Lenders; andLenders 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 Issuing BankBanks, in each case as set forth in Section 10.02(b)(ii)(E).
(b) Any such request shall be made to the Administrative Agent not later than 11:00 a.m. 10 a.m., ten 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 applicable Issuing BankBanks, in its or their sole discretion). In the case of any such request pertaining to Eurocurrency Rate Revolving Loans, the Administrative Agent shall promptly notify each Revolving Lender thereof, ; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the relevant applicable Issuing Bank thereof. Each such applicable Revolving Lender (in the case of any such request pertaining to Eurocurrency Rate Revolving Loans), the relevant ) 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 Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Eurocurrency Rate Revolving Loans or the issuance of Letters of Credit, as the case may be, in such requested currency.
(c) Any failure by any a Revolving Lender or the relevant 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 Lender or Issuing Bank, as the case may be, to permit Eurocurrency Rate Revolving Loans to be made or Letters of Credit to be issued, as applicable, issued in such requested currency. If the Administrative Agent and all the applicable Revolving 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 in such requested currency, the Administrative Agent shall so notify the Administrative BorrowerParent, and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Borrowing of Revolving Loans; and if the Administrative Agent and the relevant Issuing Bank 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 Administrative 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 of any Letter Borrowings and/or Letters of Credit issuances(as applicable), in accordance with Section 10.02(b)(ii)(E). If the Administrative Agent fails shall fail to obtain the requisite consent to any request for an additional currency under this Section 1.111.10, the Administrative Agent shall promptly so notify the Administrative BorrowerParent. 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 Parent and the Administrative Agent.
Appears in 1 contract
Samples: Restatement Agreement (Valeant Pharmaceuticals International, Inc.)
Additional Alternate Currencies. (a) The Administrative Borrower Company may from time to time request that Revolving 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 the relevant 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 Eurocurrency Rate Loans, such request shall be subject to the approval of the Administrative Agent Agent, the Lenders, and the Revolving 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 Issuing Bank.
(b) Any such request shall be made to the Administrative Agent Lender not later than 11:00 a.m. a.m., 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 Issuing Bank, in its or their sole discretion). In the case of any such request pertaining to Revolving Eurodollar Rate Loans, the Administrative Agent shall promptly notify each Revolving Lender thereof, ; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the relevant applicable Issuing Bank thereof. Each such Revolving Lender (in the case of any such request pertaining to Revolving Eurodollar Rate Loans), ) or the relevant 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 Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Eurodollar Rate Loans or the issuance of Letters of Credit, as the case may be, in such requested currency.
(c) Any failure by any Revolving Lender or the relevant 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 Lender or Issuing Bank, as the case may be, to permit Revolving Loans to be made or Letters of Credit to be issued, as applicable, in such requested currency. If the Administrative Agent and all of the Revolving 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 Loans in be used for such requested currency, the Administrative Agent Lender shall so notify the Administrative BorrowerCompany 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, and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Borrowing Borrowings of Revolving Loans; and if the Administrative Agent and the relevant Issuing Bank consent to Eurocurrency Rate Loans or the issuance of Letters of Credit in such requested currencyCredit, 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 Credit issuances. If the Administrative Agent fails to obtain the requisite consent to any request for an additional currency under this Section 1.11, 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 Agentas applicable.
Appears in 1 contract
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 the relevant 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, 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 Issuing Bank.L/C Issuer. 73
(b) Any such request shall be made to the Administrative Agent not later than 11:00 a.m. 10 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 Issuing Bank, L/C Issuer in its or their sole 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 Issuing Bank L/C Issuer thereof. Each such Revolving Credit Lender (in the case of any such request pertaining to Revolving Credit Loans), ) and the relevant Issuing Bank 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, as the case may be, in such requested currency.
(c) Any failure by any a Revolving Credit Lender or the relevant Issuing Bank, as the case may be, 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 Issuing BankL/C Issuer, as the case may be, to permit Revolving Credit Loans to be made or Letters of Credit to be issuedCredit, 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 Administrative Borrower, Borrower and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Borrowing Borrowings of Revolving Credit Loans; and if the Administrative Agent and the relevant Issuing Bank L/C Issuer 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 Credit issuancesCredit. If the Administrative Agent fails shall fail to obtain the requisite consent to any request for an additional currency under this Section 1.11, the Administrative Agent shall promptly so notify the Administrative Borrower. Notwithstanding anything .
(d) Subject to the contrary hereinprovisions 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 extent 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 Adjusted Eurocurrency Rate and/or obligation of such Borrower to repay such Loan in accordance with the Alternate Base Rate is not applicable to or available with respect to any Revolving Loan denominated in any Alternate Currency, the components terms of the interest rate applicable to such Revolving Loan shall be separately agreed by the Administrative Borrower and the Administrative Agentthis Agreement.
Appears in 1 contract
Additional Alternate Currencies. (a) The Administrative Any Borrower may from time to time request that Eurocurrency Rate Revolving 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 the relevant 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 Loans, such request shall be subject to the approval of the Administrative Agent and each of the Revolving Lenders; andLenders 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 Issuing BankBanks, in each case as set forth in Section 9.02(b)(ii)(E).
(b) Any such request shall be made to the Administrative Agent not later than 11:00 a.m. 10 a.m., ten 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 Issuing Bank, in its or their sole discretion). In the case of any such request pertaining to Eurocurrency Rate Revolving Loans, the Administrative Agent shall promptly notify each Revolving Lender thereof, ; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the relevant Issuing Bank thereof. Each such applicable Revolving Lender (in the case of any such request pertaining to Eurocurrency Rate Revolving Loans), the ) or each relevant 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 Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Eurocurrency Rate Revolving Loans or the issuance of Letters of Credit, as the case may be, in such requested currency.
(c) Any failure by any Revolving Lender or the relevant 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 Lender or Issuing Bank, as the case may be, to permit Eurocurrency Rate Revolving Loans to be made or Letters of Credit to be issued, as applicable, in such requested currency. If the Administrative Agent and all the applicable Revolving Lenders that would be obligated to make Credit Extensions denominated in such requested currency consent to making Revolving Loans or issuing 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 Borrowing of Revolving Loans; and if the Administrative Agent and the relevant 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 Credit issuances. If the Administrative Agent fails to obtain the requisite consent to any request for an additional currency under this Section 1.11, 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 1 contract
Samples: First Lien Credit Agreement (Ranpak Holdings Corp.)
Additional Alternate Currencies. (a) The Administrative Borrower Company may from time to time request that Revolving 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 the relevant 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 Eurocurrency Rate Loans, such request shall be subject to the approval of the Administrative Agent and the Revolving Lenders; (and, in if the requested currency is not Euro, Canadian Dollars or Sterling or an Alternate Currency previously approved by all Lenders, 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 Issuing Bank.
(b) Any such request shall be made to the Administrative Agent not later than 11:00 a.m. 10 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 applicable Issuing Bank, in its or their sole discretion). In the case of any such request pertaining to Revolving Eurocurrency Rate Loans, the Administrative Agent shall promptly notify each Revolving Lender thereof, ; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the relevant Issuing Bank Banks thereof. Each such Revolving Lender (in the case of any such request pertaining to Revolving LoansEurocurrency Rate Loans where the consent of all Lenders is required pursuant to Section 1.07(a), the relevant ) 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 Eurocurrency Rate Loans or the issuance of Letters of Credit, as the case may be, in such requested currency.
(c) Any failure by any Revolving a Lender or the relevant an Issuing 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 Lender or such Issuing Bank, as the case may be, to permit Revolving Eurocurrency Rate Loans to be made or Letters of Credit to be issued, as applicable, issued in such requested currency. If the Administrative Agent and all the Revolving Lenders that would be obligated to make Credit Extensions denominated in such requested currency consent to making Revolving Eurocurrency Rate Loans in such requested currency, the Administrative Agent shall so notify the Administrative Borrower, Company and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Borrowing Borrowings of Revolving Eurocurrency Rate Loans; and if the Administrative Agent and the relevant an Issuing Bank consent to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Administrative Borrower Company and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Letter of Credit issuancesissuances by such Issuing Bank. If the Administrative Agent fails shall fail to obtain the requisite consent to any request for an additional currency under this Section 1.111.07, the Administrative Agent shall promptly so notify the Administrative BorrowerCompany. 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.FOURTH AMENDED AND RESTATED CREDIT AGREEMENT
Appears in 1 contract
Additional Alternate Currencies. (a) The Administrative Any Borrower may from time to time request that Eurocurrency Rate Revolving 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 the relevant 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 Loans, such request shall be subject to the approval of the Administrative Agent and each of the Revolving Lenders; andLenders 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 Issuing BankBanks, in each case as set forth in Section 9.02(b)(ii)(E).
(b) Any such request shall be made to the Administrative Agent not later than 11:00 a.m. 10 a.m., ten 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 Issuing Bank, in its or their sole discretion). In the case of any such request pertaining to Eurocurrency Rate Revolving Loans, the Administrative Agent shall promptly notify each Revolving Lender thereof, ; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the relevant Issuing Bank thereof. Each such applicable Revolving Lender (in the case of any such request pertaining to Eurocurrency Rate Revolving Loans), the ) or each relevant 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 Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Eurocurrency Rate Revolving Loans or the issuance of Letters of Credit, as the case may be, in such requested currency.
(c) Any failure by any Revolving Lender or the relevant 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 Lender or Issuing Bank, as the case may be, to permit Eurocurrency Rate Revolving Loans to be made or Letters of Credit to be issued, as applicable, in such requested currency. If the Administrative Agent and all the applicable Revolving Lenders that would be obligated to make Credit Extensions denominated in such requested currency consent to making Revolving Loans or issuing 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 Borrowing of Revolving Loans; and if the Administrative Agent hereunder, and the relevant Issuing Bank 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 Administrative Borrower and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Letter of Credit issuancesaccordance with Section 9.02(b)(ii)(E). If the Administrative Agent fails to obtain the requisite consent to any request for an additional currency under this Section 1.111.10, 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 1 contract
Samples: First Lien Credit Agreement (Ranpak Holdings Corp.)
Additional Alternate Currencies. (ai) The Administrative Borrower Company may from time to time request that Revolving 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 the relevant 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 LoansLoans in any additional Alternate Currency, such request shall be subject to the approval of the Administrative Agent and each of the Revolving LendersLenders of the applicable Class; 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 Issuing Bank.
(bii) Any such request shall be made to the Administrative Agent not later than 11:00 a.m. 10 a.m., fifteen (15) 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 Issuing BankBanks, in its or their sole discretion). In the case of any such request pertaining to Revolving Alternate Currency Loans, the Administrative Agent shall promptly notify each Revolving 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 each applicable Issuing Bank thereof. Each such Revolving Lender of the applicable Class (in the case of any such request pertaining to Revolving Loans), the relevant ) and 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 (10) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Loans Loans, or the issuance of Letters of Credit, as the case may be, in such requested currency.
(ciii) Any failure by any a Revolving Lender or the relevant an Issuing 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 Lender or such Issuing Bank, as the case may be, to permit Revolving Loans to be made or Letters of Credit to be issued, as applicable, issued in such requested currency. If the Administrative Agent and all the Revolving Lenders that would be obligated to make Credit Extensions denominated in such requested currency consent to making Revolving Loans in such requested currency, the Administrative Agent shall so notify the Administrative Borrower, Company and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Borrowing borrowings of Revolving LoansLoans of the applicable Class; and if the Administrative Agent and the relevant each applicable Issuing Bank consent to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Administrative Borrower Company and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Letter of Credit issuances. If the Administrative Agent fails shall fail to obtain the requisite consent to any request for an additional currency under this Section 1.111.05, the Administrative Agent shall promptly so notify the Administrative BorrowerCompany, and the Company may replace such non-consenting Lender, subject to Section 12.05(b). Notwithstanding anything to the contrary herein, to the extent Any specified currency of an Existing Letter of Credit that the Adjusted Eurocurrency Rate and/or is neither Dollars nor one of the Alternate Base Rate is not applicable to or available Currencies specifically listed in the definition of “Alternate Currencies” shall be deemed an Alternate Currency with respect to any Revolving Loan denominated in any Alternate Currency, the components such Existing Letter of the interest rate applicable to such Revolving Loan shall be separately agreed by the Administrative Borrower and the Administrative AgentCredit only.
Appears in 1 contract
Samples: Credit Agreement (Iron Mountain Inc)
Additional Alternate Currencies. (a) The Administrative Borrower may from time to time request that Revolving 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 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 Loans, such request shall be subject to the approval of the Administrative Agent and the Revolving LendersLenders (such approval not to be unreasonably withheld or delayed); 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 Issuing BankLender (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 to the Administrative Agent not later than 11:00 a.m. 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 Issuing Bank, in its or their sole discretionLender). In the case of any such request pertaining to Revolving Loans, the Administrative Agent shall promptly notify each Revolving Lender 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 Issuing Bank Lender thereof. Each such Revolving Lender (in the case of any such request pertaining to Revolving Loans), or the relevant Issuing Bank 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 2 Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Loans or the issuance of Letters of Credit, as Credit in the case may be, in such requested currency.
(c) Any failure by any Revolving Lender or the relevant Issuing BankLender, 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 Lender or Issuing BankLender, as the case may be, to permit Revolving Loans to be made or Letters of Credit to be issued, as applicable, issued in such the requested currency. If the Administrative Agent and all the each Revolving Lenders Lender that would be obligated to make Credit Extensions Revolving Loans denominated in such the requested currency consent to making Revolving Loans in such the requested currency, the Administrative Agent shall so notify the Administrative Borrower, Borrower and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Borrowing of Revolving Loans; and if the Administrative Agent Agent, the Revolving Lenders and the relevant Issuing Bank Lender consent to the issuance of Letters of Credit in such the 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 the issuance of any Letter of Credit issuancesissued by such Issuing Lender. If the Administrative Agent fails to obtain the requisite consent to any request for an additional currency under this Section 1.111.08, 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 1 contract
Samples: Credit Agreement (Metaldyne Performance Group Inc.)
Additional Alternate Currencies. (a) The Administrative Borrower may from time to time request that Revolving 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 the relevant 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 Loans, such Such request shall be subject to the approval of the Administrative Agent and the Revolving 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 Issuing BankAgent.
(b) Any such request shall be made to the Administrative Agent not later than 11:00 a.m. 10 a.m., five (5) 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 Issuing Bankapplicable L/C Issuer, in its or their sole discretiondiscretion with notice to the Agent). In the case of any such request pertaining to Revolving Loans, the Administrative The Agent shall promptly notify each Revolving Lender thereof, in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the relevant Issuing Bank L/C Issuer thereof. Each such Revolving Lender (in the case of any such request pertaining to Revolving Loans), the relevant Issuing Bank (in the case of a request pertaining to Letters of Credit) The applicable L/C Issuer shall notify the Administrative Agent, not later than 11:00 a.m., five three (3) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Loans or the issuance of Alternate Currency Letters of Credit, as the case may be, Credit in such requested currency.
(c) . Any failure by any Revolving Lender or the relevant Issuing Bank, as the case may be, 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 Lender or Issuing Bank, as the case may be, applicable L/C Issuer to permit Revolving Loans to be made or Alternate Currency Letters of Credit to be issued, as applicable, issued in such requested currency. If the Administrative Agent and all the Revolving Lenders that would be obligated to make Credit Extensions denominated in such requested currency consent to making Revolving Loans 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 Borrowing of Revolving Loans; and if the Administrative Agent and the relevant Issuing Bank 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 Administrative Borrower and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Letter of Credit issuancesissuances by such L/C Issuer. If the Administrative Agent fails shall fail to obtain the requisite consent to any request for an additional currency under this Section 1.111.10, the Administrative Agent shall promptly so notify the Administrative Borrower. Notwithstanding anything .
(c) If Alternate Currencies are agreed to by the Agent pursuant to the contrary hereindefinition 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 extent that the Adjusted Eurocurrency Rate and/or the Alternate Base Rate is not applicable to or available Agent’s customary operational and agency provisions with respect to any Revolving Loan such Letters of Credit requested to be 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 Agentcurrencies.
Appears in 1 contract
Samples: Credit Agreement (Foot Locker, Inc.)
Additional Alternate Currencies. (a) The Administrative Borrower may from time to time request that Revolving 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 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 Loans, such request shall be subject to the approval of the Administrative Agent and the each Revolving LendersLender in their sole discretion; 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 Issuing Bank.
(b) Any such request shall be made to the Administrative Agent in writing not later than 11:00 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 Issuing Bank, in its or their sole discretionAgent). In the case of any such request pertaining to Revolving Loans, the Administrative Agent shall promptly notify each Revolving Lender thereof, and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the relevant each applicable Issuing Bank thereof. Each such Revolving Lender (in the case of any such request pertaining to Revolving Loans), the relevant ) and 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 Revolving Loans or the issuance of Letters of Credit, as the case may be, in such requested currency.
(c) Any failure by any Revolving Lender or the relevant 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 Lender or Issuing Bank, as the case may be, to permit Revolving Loans to be made or Letters of Credit to be issued, as applicable, in such requested currency. If the Administrative Agent and all the Revolving Lenders that would be obligated to make Credit Extensions denominated in such requested currency consent to making Revolving Loans 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 Borrowing of Revolving Loans; and if the Administrative Agent and the relevant each applicable 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 Credit issuances. If the Administrative Agent fails to obtain the requisite consent to any request for an additional currency under this Section 1.111.10, 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 1 contract
Additional Alternate Currencies. (a) The Administrative Borrower Company may from time to time request that Revolving 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 the relevant 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 Eurocurrency Rate Loans, such request shall be subject to the approval of the Administrative Agent and the Revolving Lenderseach Lender; 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 Issuing Bankeach L/C Issuer.
(b) Any such request shall be made to the Administrative Agent not later than 11:00 a.m. 10 a.m., twenty (20) 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 Issuing Bankeach L/C Issuer, in its or their sole discretion). In the case of any such request pertaining to Revolving Eurocurrency Rate Loans, the Administrative Agent shall promptly notify each Revolving Lender thereof, ; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the relevant Issuing Bank each L/C Issuer thereof. Each such Revolving Lender (in the case of any such request pertaining to Revolving Eurocurrency Rate Loans), the relevant Issuing Bank ) 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 (10) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Eurocurrency Rate Loans or the issuance of Letters of Credit, as the case may be, in such requested currency.
(c) Any failure by any Revolving a Lender or the relevant Issuing Bankan L/C 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 Lender or Issuing BankL/C Issuer, as the case may be, to permit Revolving Eurocurrency Rate Loans to be made or Letters of Credit to be issued, as applicable, issued in such requested currency. If the Administrative Agent and all the Revolving Lenders that would be obligated to make Credit Extensions denominated in such requested currency consent to making Revolving Eurocurrency Rate Loans in such requested currency, the Administrative Agent shall so notify the Administrative Borrower, Company and such currency shall thereupon be deemed for all purposes to be an Alternate Alternative Currency hereunder for purposes of any Borrowing Borrowings of Revolving Eurocurrency Rate Loans; and if the Administrative Agent and the relevant Issuing Bank any L/C Issuer consent to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Administrative 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 Credit issuancesissuances by such L/C Issuer. If the Administrative Agent fails shall fail to obtain the requisite consent to any request for an additional currency under this Section 1.111.08, 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 AgentCompany.
Appears in 1 contract
Additional Alternate Currencies. (a) The Administrative Borrower Borrowers may from time to time request that Revolving 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 the relevant 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 Facility Loans, such request shall be subject to the approval of the Administrative Agent Agent; and the Revolving 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 Issuing BankL/C Issuer.
(b) Any such request shall be made to the Administrative Agent not later than 11:00 a.m. 10 a.m., 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 Issuing BankL/C Issuer, in its or their sole discretion). In the case of any such request pertaining to Revolving Eurocurrency Loans, the Administrative Agent shall promptly notify each Revolving Facility Lender thereof, ; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the relevant Issuing Bank L/C Issuer thereof. Each such Revolving Facility Lender (in the case of any such request pertaining to Revolving Eurocurrency Loans), ) or the relevant Issuing Bank 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 4 Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Eurocurrency Loans or the issuance of Letters of Credit, as the case may be, in such requested currency.
(c) Any failure by any a Revolving Facility Lender or the relevant Issuing BankL/C 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 Facility Lender or Issuing Bankthe L/C Issuer, as the case may be, to permit Revolving Facility Loans to be made or Letters of Credit to be issued, as applicable, issued in such requested currency. If the Administrative Agent and all the Revolving Facility Lenders that would be obligated to make Credit Extensions denominated in such requested currency consent to making Revolving Facility Loans in such requested currency, the Administrative Agent shall so notify the Administrative Borrower, Borrower and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Borrowing Borrowings of Revolving Facility Loans; and if the Administrative Agent and the relevant Issuing Bank L/C Issuer 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 Credit issuances. If the Administrative Agent fails shall fail to obtain the requisite consent to any request for an additional currency under this Section 1.111.05, 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 1 contract
Additional Alternate Currencies. (a) The Administrative Borrower may from time to time request that Revolving 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 the relevant 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 Euro-Dollar Loans, such request shall be subject to the approval of the Administrative Agent and all of the Revolving LendersBanks that hold an Alternate Currency Commitment; 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 Issuing Fronting Bank.
(b) Any such request shall be made to the Administrative Agent not later than 11:00 a.m. 10 (Chicago, Illinois time), twenty (20) 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 Issuing applicable Fronting Bank, in its or their sole discretion). In the case of any such request pertaining to Revolving Euro-Dollar Loans, the Administrative Agent shall promptly notify each Revolving Lender Bank thereof, ; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the relevant Issuing applicable Fronting Bank thereof. Each such Revolving Lender Bank (in the case of any such request pertaining to Revolving Euro-Dollar Loans), ) or the relevant Issuing 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 (10) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Euro-Dollar Loans or the issuance of Letters of Credit, as the case may be, in such requested currency.
(c) Any failure by any Revolving Lender a Bank or the relevant Issuing 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 Lender Bank or Issuing such Fronting Bank, as the case may be, to permit Revolving Euro-Dollar Loans to be made or Letters of Credit to be issued, as applicable, issued in such requested currency. If the Administrative Agent and all the Revolving Lenders that would be obligated to make Credit Extensions denominated in such requested currency Banks consent to making Revolving Euro-Dollar Loans in such requested currency, the Administrative Agent shall so notify the Administrative Borrower, Borrower and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Borrowing Committed Borrowings of Revolving Euro-Dollar Loans; and if the Administrative Agent and the relevant Issuing applicable Fronting 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 Credit issuances. If the Administrative Agent fails shall fail to obtain the requisite consent to any request for an additional currency under this Section 1.112.10, 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 1 contract
Samples: Revolving Credit Agreement (Erp Operating LTD Partnership)
Additional Alternate Currencies. (a) The Administrative Borrower may from time to time request that Revolving 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 the relevant 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 Euro-Dollar Loans, such request shall be subject to the approval of the Administrative Agent and all of the Revolving LendersBanks that hold an Alternative Currency Commitment; 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 Issuing Fronting Bank.
(b) Any such request shall be made to the Administrative Agent not later than 11:00 a.m. 10 (Chicago, Illinois time), twenty (20) 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 Issuing applicable Fronting Bank, in its or their sole discretion). In the case of any such request pertaining to Revolving Euro-Dollar Loans, the Administrative Agent shall promptly notify each Revolving Lender Bank thereof, ; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the relevant Issuing applicable Fronting Bank thereof. Each such Revolving Lender Bank (in the case of any such request pertaining to Revolving Euro-Dollar Loans), ) or the relevant Issuing 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 (10) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Euro-Dollar Loans or the issuance of Letters of Credit, as the case may be, in such requested currency.
(c) Any failure by any Revolving Lender a Bank or the relevant Issuing 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 Lender Bank or Issuing such Fronting Bank, as the case may be, to permit Revolving Euro-Dollar Loans to be made or Letters of Credit to be issued, as applicable, issued in such requested currency. If the Administrative Agent and all the Revolving Lenders that would be obligated to make Credit Extensions denominated in such requested currency Banks consent to making Revolving Euro-Dollar Loans in such requested currency, the Administrative Agent shall so notify the Administrative Borrower, Borrower and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Borrowing Committed Borrowings of Revolving Euro-Dollar Loans; and if the Administrative Agent and the relevant Issuing applicable Fronting 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 Credit issuances. If the Administrative Agent fails shall fail to obtain the requisite consent to any request for an additional currency under this Section 1.112.10, 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 1 contract
Samples: Revolving Credit Agreement (Erp Operating LTD Partnership)
Additional Alternate Currencies. (a) The Administrative Borrower Parent may from time to time request that Eurocurrency Rate Revolving 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 the relevant 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 Loans, such request shall be subject to the approval of the Administrative Agent and the Revolving Lenders; andLenders 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 Issuing BankBanks, in each case as set forth in Section 10.02(b)(ii)(E).
(b) Any such request shall be made to the Administrative Agent not later than 11:00 a.m. 10 a.m., ten 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 applicable Issuing BankBanks, in its or their sole discretion). In the case of any such request pertaining to Eurocurrency Rate Revolving Loans, the Administrative Agent shall promptly notify each Revolving Lender thereof, ; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the relevant applicable Issuing Bank thereof. Each such applicable Revolving Lender (in the case of any such request pertaining to Eurocurrency Rate Revolving Loans), the relevant ) 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 Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Eurocurrency Rate Revolving Loans or the issuance of Letters of Credit, as the case may be, in such requested currency.
(c) Any failure by any a Revolving Lender or the relevant 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 Lender or Issuing Bank, as the case may be, to permit Eurocurrency Rate Revolving Loans to be made or Letters of Credit to be issued, as applicable, issued in such requested currency. If the Administrative Agent and all the applicable Revolving 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 in such requested currency, the Administrative Agent shall so notify the Administrative BorrowerParent, and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Borrowing of Revolving Loans; and if the Administrative Agent and the relevant Issuing Bank 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 Administrative 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 of any Letter Borrowings and/or Letters of Credit issuances. If the Administrative Agent fails to obtain the requisite consent to any request for an additional currency under this (as applicable), in accordance with Section 1.11, 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.10.02(b)(
Appears in 1 contract
Additional Alternate Currencies. (ai) 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 the relevant 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, 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 Issuing BankL/C Issuer.
(bii) Any such request shall be made to the Administrative Agent not later than 11:00 a.m. 10 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 Issuing Bank, L/C Issuer in its or their sole 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 Issuing Bank L/C Issuer thereof. Each such Revolving Credit Lender (in the case of any such request pertaining to Revolving Credit Loans), ) and the relevant Issuing Bank 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, as the case may be, in such requested currency.
(ciii) Any failure by any a Revolving Credit Lender or the relevant Issuing Bank, as the case may be, 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 Issuing BankL/C Issuer, as the case may be, to permit Revolving Credit Loans to be made or Letters of Credit to be issuedCredit, 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 Administrative Borrower, Borrower and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Borrowing Borrowings of Revolving Credit Loans; and if the Administrative Agent and the relevant Issuing Bank L/C Issuer 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 Credit issuancesCredit. If the Administrative Agent fails shall fail to obtain the requisite consent to any request for an additional currency under this Section Section 1.11, the Administrative Agent shall promptly so notify the Administrative Borrower. Notwithstanding anything .
(iv) Subject to the contrary hereinprovisions 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 extent 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 Adjusted Eurocurrency Rate and/or obligation of such Borrower to repay such Loan in accordance with the Alternate Base Rate is not applicable to or available with respect to any Revolving Loan denominated in any Alternate Currency, the components terms of the interest rate applicable to such Revolving Loan shall be separately agreed by the Administrative Borrower and the Administrative Agentthis Agreement.
Appears in 1 contract
Additional Alternate Currencies. (a) The Administrative Borrower Company may from time to time request that Revolving 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 the relevant 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 LoansLoans in any additional Alternate Currency, such request shall be subject to the approval of the Administrative Agent and each of the Revolving Lenders; and, 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 Issuing Bank.
(b) Any such request shall be made to the Administrative Agent not later than 11:00 a.m. 10 a.m., fifteen (15) 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 Issuing BankBanks, in its or their sole discretion). In the case of any such request pertaining to Revolving Alternate Currency Loans, the Administrative Agent shall promptly notify each Revolving Lender thereof, 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 each applicable Issuing Bank thereof. Each such Revolving Lender of the applicable Class (in the case of any such request pertaining to Revolving Loans), the relevant ) and 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 (10) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Loans Loans, or the issuance of Letters of Credit, as the case may be, in such requested currency.
(c) Any failure by any a Revolving Lender or the relevant an Issuing 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 Lender or such Issuing Bank, as the case may be, to permit Revolving Loans to be made or Letters of Credit to be issued, as applicable, issued in such requested currency. If the Administrative Agent and all the Revolving Lenders that would be obligated to make Credit Extensions denominated in such requested currency consent to making Revolving Loans in such requested currency, the Administrative Agent shall so notify the Administrative Borrower, Company and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Borrowing borrowings of Revolving Loans; Loans of the applicable Class; and if the Administrative Agent and the relevant each applicable Issuing Bank consent to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Administrative Borrower Company and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Letter of Credit issuances. If the Administrative Agent fails shall fail to obtain the requisite consent to any request for an additional currency under this Section 1.111.05, the Administrative Agent shall promptly so notify the Administrative BorrowerCompany, and the Company may replace such non-consenting Lender, subject to Section 12.05(b). Notwithstanding anything to the contrary herein, to the extent Any specified currency of an Existing Letter of Credit that the Adjusted Eurocurrency Rate and/or is neither Dollars nor one of the Alternate Base Rate is not applicable to or available Currencies specifically listed in the definition of “Alternate Currencies” shall be deemed an Alternate Currency with respect to any Revolving Loan denominated in any Alternate Currency, the components such Existing Letter of the interest rate applicable to such Revolving Loan shall be separately agreed by the Administrative Borrower and the Administrative AgentCredit only.
Appears in 1 contract
Samples: Credit Agreement (Iron Mountain 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 the relevant 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, 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 Issuing BankL/C Issuer.
(b) Any such request shall be made to the Administrative Agent not later than 11:00 a.m. 10 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 Issuing Bank, L/C Issuer in its or their sole 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 Issuing Bank L/C Issuer thereof. Each such Revolving Credit Lender (in the case of any such request pertaining to Revolving Credit Loans), ) and the relevant Issuing Bank 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, as the case may be, in such requested currency.
(c) Any failure by any a Revolving Credit Lender or the relevant Issuing Bank, as the case may be, 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 Issuing BankL/C Issuer, as the case may be, to permit Revolving Credit Loans to be made or Letters of Credit to be issuedCredit, 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 Administrative Borrower, Borrower and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Borrowing Borrowings of Revolving Credit Loans; and if the Administrative Agent and the relevant Issuing Bank L/C Issuer 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 Credit issuancesCredit. If the Administrative Agent fails shall fail to obtain the requisite consent to any request for an additional currency under this Section 1.11, the Administrative Agent shall promptly so notify the Administrative Borrower. Notwithstanding anything .
(d) Subject to the contrary hereinprovisions 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 extent 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 Adjusted Eurocurrency Rate and/or obligation of such Borrower to repay such Loan in accordance with the Alternate Base Rate is not applicable to or available with respect to any Revolving Loan denominated in any Alternate Currency, the components terms of the interest rate applicable to such Revolving Loan shall be separately agreed by the Administrative Borrower and the Administrative Agentthis Agreement.
Appears in 1 contract
Additional Alternate Currencies. (a) The Administrative Borrower Borrowers may from time to time request that Revolving 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 the relevant 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 Loans, such request shall be subject to the approval of the Administrative Agent Agent; and the Revolving 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 Issuing BankL/C Issuer.
(b) Any such request shall be made to the Administrative Agent not later than 11:00 a.m. 10 a.m., 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 Issuing BankL/C Issuer, in its or their sole discretion). In the case of any such request pertaining to Revolving Eurocurrency Loans, the Administrative Agent shall promptly notify each Revolving Facility Lender thereof, ; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the relevant Issuing Bank L/C Issuer thereof. Each such Revolving Facility Lender (in the case of any such request pertaining to Revolving Eurocurrency Loans), ) or the relevant Issuing Bank 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 4 Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Eurocurrency Loans or the issuance of Letters of Credit, as the case may be, in such requested currency.
(c) Any failure by any a Revolving Facility Lender or the relevant Issuing BankL/C 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 Facility Lender or Issuing Bankthe L/C Issuer, as the case may be, to permit Revolving Loans to be made or Letters of Credit to be issued, as applicable, issued in such requested currency. If the Administrative Agent and all the Revolving Facility Lenders that would be obligated to make Credit Extensions denominated in such requested currency consent to making Revolving Loans in such requested currency, the Administrative Agent shall so notify the Administrative Borrower, Borrower and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Borrowing Borrowings of Revolving Loans; and if the Administrative Agent and the relevant Issuing Bank L/C Issuer 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 Credit issuances. If the Administrative Agent fails shall fail to obtain the requisite consent to any request for an additional currency under this Section 1.111.05, 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 1 contract
Additional Alternate Currencies. (a) The Administrative Any Borrower may from time to time request that Eurocurrency Rate Revolving 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 the relevant 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 Loans, such request shall be subject to the approval of the Administrative Agent and each of the Revolving Lenders; andLenders 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 Issuing BankBanks, in each case as set forth in Section 9.02(b)(ii)(E).
(b) Any such request shall be made to the Administrative Agent not later than 11:00 a.m. 10 a.m., ten 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 Issuing Bank, in its or their sole discretion). In the case of any such request pertaining to Eurocurrency Rate Revolving Loans, the Administrative Agent shall promptly notify each Revolving Lender thereof, ; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the relevant Issuing Bank thereof. Each such applicable Revolving Lender (in the case of any such request pertaining to Eurocurrency Rate Revolving Loans), the ) or each relevant 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 Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Eurocurrency Rate Revolving Loans or the issuance of Letters of Credit, as the case may be, in such requested currency.
(c) Any failure by any Revolving Lender or the relevant 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 Lender or Issuing Bank, as the case may be, to permit Eurocurrency Rate Revolving Loans to be made or Letters of Credit to be issued, as applicable, in such requested currency. If the Administrative Agent and all the applicable Revolving Lenders that would be obligated to make Credit Extensions denominated in such requested currency consent to making Revolving Loans or issuing 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 Borrowing of Revolving Loans; and if the Administrative Agent hereunder, and the relevant Issuing Bank 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 Administrative Borrower and such currency shall thereupon be deemed for all purposes to be an Alternate Currency hereunder for purposes of any Letter of Credit issuancesaccordance with Section 9.02(b)(ii)(E). If the Administrative Agent fails to obtain the requisite consent to any request for an additional currency under this Section 1.111.10, 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 1 contract
Samples: First Lien Credit Agreement (Ranpak Holdings Corp.)