Common use of Advances by Lenders Clause in Contracts

Advances by Lenders. The Agent shall promptly (and in any event ------------------- within one Business Day) give each Lender notice of each Notice of Borrowing received by it. Each Lender shall, before (i) 12:00 Noon (San Francisco time) with respect to Borrowings in U.S. Dollars, and (ii) 9:00 a.m. (local time at the Agent's Applicable Lending Office) with respect to Borrowings in Alternative Currencies, on the date of the Committed Borrowing covered by each such Notice of Borrowing, make available for the account of its Applicable Lending Office to the Agent such Lender's ratable portion of such Committed Borrowing by deposit ing the amount of such portion in the applicable currency and in same day funds in the Agent's Account. Unless the Agent shall have received written notice from a Lender prior to the date of any such Committed Borrowing that such Lender will not make available to the Agent such Lender's ratable portion of such Committed Borrowing, the Agent may assume that such Lender has made such portion available to the Agent on the date of such Committed Borrowing in accordance with this Section 2.02(c) and the Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount pursuant to Section 2.02(d). If and to the extent any Lender shall not have made available to the Agent on the date of the Committed Borrowing such Lender's ratable portion of such Committed Borrowing, such Lender and the applicable Borrower agrees to pay to the Agent forthwith on demand such amount together with interest thereon, for each day from the date such amount is made available to the applicable Borrower until the date such amount is repaid to the Agent, at an interest rate equal to, in the case of a Borrower, the interest rate (plus the Applicable Margin) stated in the Notice of Borrowing applicable thereto, or, in the case of a Lender, the Federal Funds Rate or, in the case of a payment in an Alternative Currency, the Overnight 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 Committed Borrowing for purposes of this Agreement and to such extent the Borrower shall have no further obligation under this Section 2.02(c) to repay such amount.

Appears in 1 contract

Samples: Credit Agreement (Sunrise Medical Inc)

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Advances by Lenders. The Agent shall promptly (and in any event ------------------- within one Business Day) give each Lender notice of each Notice of Borrowing received by it. Each Lender shall, before (i) 12:00 Noon (San Francisco time) with respect to Borrowings in U.S. Dollars, and (ii) 9:00 a.m. (local time at the Agent's Applicable Lending Office) with respect to Borrowings in Alternative Currencies, on the date of the Committed Borrowing covered by each such Notice of Borrowing, make available for the account of its Applicable Lending Office to the Agent such Lender's ratable portion of such Committed Borrowing by deposit ing depositing the amount of such portion in the applicable currency and in same day funds in the Agent's Account. Unless the Agent shall have received written notice from a Lender prior to the date of any such Committed Borrowing that such Lender will not make available to the Agent such Lender's ratable portion of such Committed Borrowing, the Agent may assume that such Lender has made such portion available to the Agent on the date of such Committed Borrowing in accordance with this Section 2.02(c) and the Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount pursuant to Section 2.02(d). If and to the extent any Lender shall not have made available to the Agent on the date of the Committed Borrowing such Lender's ratable portion of such Committed Borrowing, such Lender and the applicable Borrower agrees to pay to the Agent forthwith on demand such amount together with interest thereon, for each day from the date such amount is made available to the applicable Borrower until the date such amount is repaid to the Agent, at an interest rate equal to, in the case of a Borrower, the interest rate (plus the Applicable Margin, if any) stated in the Notice of Borrowing applicable thereto, or, in the case of a Lender, the Federal Funds Rate or, in the case of a payment in an Alternative Currency, the Overnight 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 Committed Borrowing for purposes of this Agreement and to such extent the Borrower shall have no further obligation under this Section 2.02(c) to repay such amount.

Appears in 1 contract

Samples: Credit Agreement (Sunrise Medical Inc)

Advances by Lenders. The If the Agent receives a Notice of Borrowing, ------------------- the Agent shall promptly (and and, in any event ------------------- within one not later than 4:00 p.m. (Dallas, Texas time) on the Business DayDay prior to the date of such Revolving Borrowing or, if such Revolving Borrowing consists of Eurodollar Rate Advances, the third Business Day prior to the date of such Revolving Borrowing) give each Lender notice of each such Notice of Borrowing received by itBorrowing. Each Lender shallshall before 12:00 noon (Dallas, before (i) 12:00 Noon (San Francisco Texas time) with respect to Borrowings in U.S. Dollars, and (ii) 9:00 a.m. (local time at the Agent's Applicable Lending Office) with respect to Borrowings in Alternative Currencies, on the date of the Committed Borrowing covered by each such Notice of Revolving Borrowing, make available for the account of its Applicable Lending Office to the Agent such Lender's ratable portion of such Committed Revolving Borrowing by deposit ing the amount of such portion in the applicable currency and in depositing same day funds in the Agent's Account. Unless the Agent shall have received written notice from a Lender prior to the date of any such Committed Revolving Borrowing hereunder that such Lender will not make available to the Agent such Lender's ratable portion of such Committed Revolving Borrowing, the Agent may assume that such Lender has made such ratable portion available to the Agent on the date of such Committed Revolving Borrowing in accordance with this Section 2.02(c) the terms hereof and the Agent may, in reliance upon such assumption, but shall not be required to, make available to or for the account of the Borrower on such date a corresponding amount pursuant to Section 2.02(d)amount. If and to the extent any that such Lender shall not have so made such ratable portion available to the Agent on and the date of the Committed Borrowing Agent makes such Lender's ratable portion of such Committed Borrowingavailable to the Borrower, such Lender and the applicable Borrower, without prejudice to any rights or remedies that the Borrower agrees may have against such Lender, severally agree to pay repay to the Agent forthwith on demand such corresponding amount together with interest thereon, for each day from the date such amount is made available to or for the applicable account of the Borrower until the date such amount is repaid to the Agent, at an interest rate equal to, (a) in the case of a the Borrower, the interest rate applicable at the time to the Advances comprising such Revolving Borrowing, and (plus the Applicable Marginb) stated in the Notice of Borrowing applicable thereto, or, in the case of a such Lender, the Federal Funds Rate or, in the case of a payment in an Alternative Currency, the Overnight 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 Committed the relevant Revolving Borrowing for purposes of this Agreement and and, to such the extent that the Borrower shall have no further obligation under this Section 2.02(c) previously paid such amount to repay the Agent, the Agent will refund to the Borrower such amountamount so paid, but without interest.

Appears in 1 contract

Samples: Schedules and Exhibits (National Golf Properties Inc)

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Advances by Lenders. The If the Agent receives a Notice of Borrowing, or a Notice of Swing Line Borrowing (or if the Agent gives a Notice of Borrowing pursuant to Section 2.02(f)) the Agent shall promptly (and in any event ------------------- within one on the Business DayDay prior to the date of such Borrowing or, if such Borrowing consists of Eurodollar Rate Advances, the third Business Day prior to the date of such Borrowing) give each Lender notice of each such Notice of Borrowing received by itor Notice of Swing Line Borrowing. Each Lender shall, before shall (i) before 12:00 Noon noon (San Francisco Dallas, Texas time) with respect to Borrowings in U.S. Dollars, and (ii) 9:00 a.m. (local time at the Agent's Applicable Lending Office) with respect to Borrowings in Alternative Currencies, on the date of such Borrowing in the Committed case of any Revolving Borrowing covered by each to be made on such Notice date, or (ii) before 4:00 p.m. (Dallas, Texas time) on the date of such Borrowing in the case of a Swing Line Borrowing, make available for the account of its Applicable Lending Office to the Agent such Lender's ratable portion of such Committed Borrowing by deposit ing the amount of such portion in the applicable currency and in depositing same day funds in the Agent's Account. Unless the Agent shall have received written notice from a Revolving Lender prior to the date of any such Committed Revolving Borrowing hereunder that such Lender will not make available to the Agent such Lender's ratable portion of such Committed Borrowing, the Agent may assume that such Lender has made such ratable portion available to the Agent on the date of such Committed Borrowing in accordance with this Section 2.02(c) the terms hereof and the Agent may, in reliance upon such assumption, but shall not be required to, make available to or for the account of the Borrower on such date a corresponding amount pursuant to Section 2.02(d)amount. If and to the extent any that such Lender shall not have so made such ratable portion available to the Agent on and the date of the Committed Borrowing Agent makes such Lender's ratable portion of such Committed Borrowingavailable to the Borrower, such Lender and the applicable Borrower, without prejudice to any rights or remedies that the Borrower agrees may have against such Lender, severally agree to pay repay to the Agent forthwith on demand such corresponding amount together with interest thereon, for each day from the date such amount is made available to or for the applicable account of the Borrower until the date such amount is repaid to the Agent, at an interest rate equal to, (A) in the case of a the Borrower, the interest rate applicable at the time to the Advances comprising such Borrowing, and (plus the Applicable MarginB) stated in the Notice of Borrowing applicable thereto, or, in the case of a such Lender, the Federal Funds Rate or, in the case of a payment in an Alternative Currency, the Overnight 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 Committed the relevant Borrowing for purposes of this Agreement and and, to such the extent that the Borrower shall have no further obligation under this Section 2.02(c) previously paid such amount to repay the Agent, the Agent will refund to the Borrower such amountamount so paid, but without interest.

Appears in 1 contract

Samples: Revolving Credit Agreement (Foodmaker Inc /De/)

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