Common use of ADDITIONAL PROVISIONS REGARDING FUNDING Clause in Contracts

ADDITIONAL PROVISIONS REGARDING FUNDING. 2.4.1 As to all Advances, the Agent may assume that each Lender will make its Advances available to the Agent on the Borrowing Date in accordance with this Second Restated Credit Agreement and the Agent may, but shall not be obligated to, advance to the Company on such Lender's behalf such Lender's Advance, or any portion of such share, for the account of such Lender unless such Lender shall have notified the Agent in writing (a) in the case of a Base Rate Advance, prior to 2:00 p.m. (Cincinnati time) on the Borrowing Date, or (b) in the case of any other Advance, prior to 2:00 p.m. (Cincinnati time) on the Business Day prior to the Borrowing Date, that funds will not be made available by such Lender for such Advance, in which case the Agent promptly shall notify the Company of such fact. If any such funds are so advanced by the Agent, such Lender and the Company severally agree to pay such amount to the Agent, forthwith on demand, but no later than the Wednesday following the date such funds are advanced, together with interest thereon for each day from the date such amount is made available to the Company until the date such amount is paid to the Agent, at (i) in the case of the Company, a rate per annum equal to the interest rate payable by the Company with respect to such Loan in effect from time to time while such Advance is outstanding and (ii) in the case of such Lender, two percent (2%) in excess of the Federal Funds Rate. If such Lender shall pay to the Agent such amount, such amount so paid shall constitute such Lender's Advance as part of such Borrowing.

Appears in 2 contracts

Samples: Credit, Reimbursement and Security Agreement (Multi Color Corp), Credit, Reimbursement and Security Agreement (Multi Color Corp)

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ADDITIONAL PROVISIONS REGARDING FUNDING. 2.4.1 As to all Advances, the Agent may assume that each Lender will make its Advances available to the Agent on the Borrowing Date in accordance with this Second Third Restated Credit Agreement and the Agent may, but shall not be obligated to, advance to the Company on such Lender's behalf such Lender's Advance, or any portion of such share, for the account of such Lender unless such Lender shall have notified the Agent in writing (a) in the case of a Base Rate Advance, prior to 2:00 p.m. (Cincinnati time) on the Borrowing Date, or (b) in the case of any other Advance, prior to 2:00 p.m. (Cincinnati time) on the Business Day prior to the Borrowing Date, that funds will not be made available by such Lender for such Advance, in which case the Agent promptly shall notify the Company of such fact. If any such funds are so advanced by the Agent, such Lender and the Company severally agree to pay such amount to the Agent, forthwith on demand, but no later than the Wednesday following the date such funds are advanced, together with interest thereon for each day from the date such amount is made available to the Company until the date such amount is paid to the Agent, at (i) in the case of the Company, a rate per annum equal to the interest rate Interest Rate payable by the Company with respect to such Loan in effect from time to time while such Advance is outstanding and (ii) in the case of such Lender, two percent (2%) in excess of the Federal Funds Rate. If such Lender shall pay to the Agent such amount, such amount so paid shall constitute such Lender's Advance as part of such Borrowing.

Appears in 1 contract

Samples: Credit, Reimbursement and Security Agreement (Multi Color Corp)

ADDITIONAL PROVISIONS REGARDING FUNDING. 2.4.1 As to all Advances, the Agent may assume that each Lender will make its Advances available to the Agent on the Borrowing Date in accordance with this Second Restated Credit Agreement and the Agent may, but shall not be obligated to, advance to the Company on such Lender's behalf such Lender's Advance, or any portion of such share, for the account of such Lender unless such Lender shall have notified the Agent in writing (a) in the case of a Base Rate Advance, prior to 2:00 p.m. (Cincinnati time) on the Borrowing Date, or (b) in the case of any other Advance, prior to 2:00 p.m. (Cincinnati time) on the Business Day prior to the Borrowing Date, that funds will not be made available by such Lender for such Advance, in which case the Agent promptly shall notify the Company of such fact. If any such funds are so advanced by the Agent, such Lender and the Company severally agree to pay such amount to the Agent, forthwith on demand, but no later than the Wednesday following the date such funds are advanced, together with interest thereon for each day from the date such amount is made available to the Company until the date such amount is paid to the Agent, at (i) in the case of the Company, a rate per annum equal to the interest rate Interest Rate payable by the Company with respect to such Loan in effect from time to time while such Advance is outstanding and (ii) in the case of such Lender, two percent (2%) in excess of the Federal Funds Rate. If such Lender shall pay to the Agent such amount, such amount so paid shall constitute such Lender's Advance as part of such Borrowing.

Appears in 1 contract

Samples: Credit, Reimbursement and Security Agreement (Multi Color Corp)

ADDITIONAL PROVISIONS REGARDING FUNDING. 2.4.1 As to all Advances, the Administrative Agent may assume that each Lender (or its Designated Lender, if applicable) will make its Advances available to the Administrative Agent on the Borrowing Date in accordance with this Second Restated Credit Agreement Agreement, and the Administrative Agent may, but shall will not be obligated to, advance to the Company Borrower on such Lender's behalf such Lender's Advance, or any portion of such share, for the account of such Lender unless such Lender shall will have notified the Administrative Agent in writing (a) in the case of a Base Rate Advance, prior to 2:00 p.m. 10:00 a.m. (Cincinnati New York, New York time) on the Borrowing Date, or (b) in the case of any other Advance, prior to 2:00 p.m. (Cincinnati time) on the Business Day prior to the Borrowing Date, Date that funds will not be made available by such Lender for such Advance, in which case the Administrative Agent promptly shall will notify the Company Borrower of such fact. If any such funds are so advanced by the Administrative Agent, such Lender and the Company Borrower severally agree to pay such amount to the Administrative Agent, forthwith on demand, but no later than the Wednesday following the date such funds are advanced, together with interest thereon for each day from the date such amount is made available to the Company Borrower until the date such amount is paid to the Administrative Agent, at (i) in the case of the CompanyBorrower, a rate per annum equal to the interest rate payable by the Company Borrower with respect to such Loan in effect from time to time while such Advance is outstanding and (ii) in the case of such Lender, two one percent (21%) in excess of the Federal Funds Rate. If such Lender shall will pay to the Administrative Agent such amount, such amount so paid shall will constitute such Lender's Advance as part of such Borrowing.

Appears in 1 contract

Samples: Loan Agreement (Worthington Industries Inc)

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ADDITIONAL PROVISIONS REGARDING FUNDING. 2.4.1 As to all Advances, the Agent may assume that each Lender will make its Advances available to the Agent on the Borrowing Date in accordance with this Second Fourth Restated Credit Agreement and the Agent may, but shall not be obligated to, advance to the Company on such Lender's behalf such Lender's Advance, or any portion of such share, for the account of such Lender unless such Lender shall have notified the Agent in writing (a) in the case of a Base Rate Advance, prior to 2:00 p.m. (Cincinnati time) on the Borrowing Date, or (b) in the case of any other Advance, prior to 2:00 p.m. (Cincinnati time) on the Business Day prior to the Borrowing Date, that funds will not be made available by such Lender for such Advance, in which case the Agent promptly shall notify the Company of such fact. If any such funds are so advanced by the Agent, such Lender and the Company severally agree to pay such amount to the Agent, forthwith on demand, but no later than the Wednesday following the date such funds are advanced, together with interest thereon for each day from the date such amount is made available to the Company until the date such amount is paid to the Agent, at (i) in the case of the Company, a rate per annum equal to the interest rate Interest Rate payable by the Company with respect to such Loan in effect from time to time while such Advance is outstanding and (ii) in the case of such Lender, two percent (2%) in excess of the Federal Funds Rate. If such Lender shall pay to the Agent such amount, such amount so paid shall constitute such Lender's Advance as part of such Borrowing.

Appears in 1 contract

Samples: Credit, Reimbursement and Security Agreement (Multi Color Corp)

ADDITIONAL PROVISIONS REGARDING FUNDING. 2.4.1 2.3.1 As to all Advances, the Administrative Agent may assume that each Lender (or its Designated Lender, if applicable) will make its Advances available to the Administrative Agent on the Borrowing Date in accordance with this Second Restated Credit Agreement Agreement, and the Administrative Agent may, but shall will not be obligated to, advance to the Company Borrower on such Lender's behalf such Lender's Advance, or any portion of such share, for the account of such Lender unless such Lender shall will have notified the Administrative Agent in writing (a) in the case of a Base Rate Advance, prior to 2:00 p.m. 10:00 a.m. (Cincinnati New York, New York time) on the Borrowing Date, or (b) in the case of any other Advance, prior to 2:00 p.m. (Cincinnati time) on the Business Day prior to the Borrowing Date, Date that funds will not be made available by such Lender for such Advance, in which case the Administrative Agent promptly shall will notify the Company Borrower of such fact. If any such funds are so advanced by the Administrative Agent, such Lender and the Company Borrower severally agree to pay such amount to the Administrative Agent, forthwith on demand, but no later than the Wednesday following the date such funds are advanced, together with interest thereon for each day from the date such amount is made available to the Company Borrower until the date such amount is paid to the Administrative Agent, at (i) in the case of the CompanyBorrower, a rate per annum equal to the interest rate payable by the Company Borrower with respect to such Loan in effect from time to time while such Advance is outstanding and (ii) in the case of such Lender, two one percent (21%) in excess of the Federal Funds Rate. If such Lender shall will pay to the Administrative Agent such amount, such amount so paid shall will constitute such Lender's Advance as part of such Borrowing.

Appears in 1 contract

Samples: Loan Agreement (Worthington Industries Inc)

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