Common use of Advancing Revolving Loans Clause in Contracts

Advancing Revolving Loans. (i) Borrower shall deliver to Administrative Agent a Notice of Borrowing with respect to each proposed Revolving Loan Borrowing (other than Revolving Loans made pursuant to clause (iii) below), such Notice of Borrowing to be delivered no later than noon (Chicago time) (1) on the day of such proposed borrowing, in the case of Base Rate Loans in an aggregate principal amount equal to or less than $5,000,000, (2) on the Business Day prior to such proposed borrowing, in the case of Base Rate Loans in an aggregate principal amount greater than $5,000,000 and (3) on the third (3rd) Business Day prior to such proposed borrowing, in the case of all LIBOR Loans. Once given, except as provided in Section 2.3(e)(ii), a Notice of Borrowing shall be irrevocable and Borrower shall be bound thereby.

Appears in 3 contracts

Samples: Credit Agreement (Collegiate Pacific Inc), Credit Agreement (Obagi Medical Products, Inc.), Credit Agreement (Collegiate Pacific Inc)

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Advancing Revolving Loans. (i) Borrower The Funds Administrator, on behalf of the Borrowers, shall deliver to Administrative Agent a Notice of Borrowing with respect to each proposed Revolving Loan Borrowing (other than Revolving Loans made pursuant to clause (iii) belowAgent Advances), such Notice of Borrowing to be delivered no later than noon (Chicago time) (1A) on the day of such proposed borrowing, in the case of Base Prime Rate Loans in an aggregate principal amount equal to or less than $5,000,00010,000,000, (2B) on the Business Day prior to such proposed borrowing, in the case of Base Prime Rate Loans in an aggregate principal amount greater than $5,000,000 10,000,000 and (3C) on the third (3rd) Business Day prior to such proposed borrowing, in the case of all LIBOR Loans. Once given, except as provided in Section 2.3(e)(ii2.3(f)(ii), a Notice of Borrowing shall be irrevocable and Borrower the Borrowers shall be bound thereby.

Appears in 2 contracts

Samples: Credit Agreement (Comsys It Partners Inc), Credit Agreement (Comsys It Partners Inc)

Advancing Revolving Loans. (i) Borrower Representative shall deliver to Administrative Agent a Notice of Borrowing with respect to each proposed Revolving Loan Borrowing (other than Revolving Loans made pursuant to clause (iii) below), such Notice of Borrowing to be delivered no later than noon 1:00 p.m. (Chicago time) (1) on the day of such proposed borrowing, in the case of Base Rate Loans in an aggregate principal amount equal to or less than $5,000,000, (2) on the Business Day prior to such proposed borrowing, in the case of Base Rate Loans in an aggregate principal amount greater than $5,000,000 and (3) on the third (3rd) Business Day prior to such proposed borrowing, in the case of all LIBOR Loans. Once given, except as provided in Section 2.3(e)(ii), a Notice of Borrowing shall be irrevocable and Borrower Borrowers shall be bound thereby.

Appears in 1 contract

Samples: Credit Agreement (Loud Technologies Inc)

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Advancing Revolving Loans. (i) Borrower Borrowers shall deliver to Administrative Agent a Notice of Borrowing with respect to each proposed Revolving Loan Borrowing (other than Revolving Loans made pursuant to clause (iii) belowAgent Advances), such Notice of Borrowing to be delivered no later than noon (Chicago time) (1i) on the day of such proposed borrowing, in the case of Base Prime Rate Loans in an aggregate principal amount equal to or less than $5,000,000, 5,000,000 and (2ii) on the Business Day prior to such proposed borrowing, in the case of Base Prime Rate Loans in an aggregate principal amount greater than $5,000,000 and (3) on the third (3rd) Business Day prior to such proposed borrowing, in the case of all LIBOR Loans5,000,000. Once given, except as provided in Section 2.3(e)(ii), a Notice of Borrowing shall be irrevocable and Borrower Borrowers shall be bound thereby.

Appears in 1 contract

Samples: Credit Agreement (Ahl Services Inc)

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