Common use of Agent's Election Clause in Contracts

Agent's Election. Promptly after receipt of a request for a Borrowing pursuant to Section 2.3(a), Agent shall elect, in its discretion, (i) to have the terms of Section 2.3(c) apply to such requested Borrowing, or (ii) if the Borrowing is for an Advance, to request Swing Lender to make a Swing Loan pursuant to the terms of Section 2.3(d) in the amount of the requested Borrowing; provided, however, that if Swing Lender declines in its sole discretion to make a Swing Loan pursuant to Section 2.3(d), Agent shall elect to have the terms of Section 2.3(c) apply to such requested Borrowing.

Appears in 66 contracts

Samples: Loan and Security Agreement (LSB Industries, Inc.), Loan and Security Agreement (LSB Industries Inc), Loan and Security Agreement (LSB Industries Inc)

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Agent's Election. Promptly after receipt of a request for a Borrowing pursuant to Section SECTION 2.3(a), Agent shall elect, in its discretion, (i) to have the terms of Section SECTION 2.3(c) apply to such requested Borrowing, or (ii) if the Borrowing is for an Advance, to request Swing Lender to make a Swing Loan pursuant to the terms of Section SECTION 2.3(d) in the amount of the requested Borrowing; providedPROVIDED, howeverHOWEVER, that if Swing Lender declines in its sole discretion to make a Swing Loan pursuant to Section SECTION 2.3(d), Agent shall elect to have the terms of Section SECTION 2.3(c) apply to such requested Borrowing.

Appears in 3 contracts

Samples: Loan and Security Agreement (Star Telecommunications Inc), Loan and Security Agreement (HPSC Inc), Loan and Security Agreement (HPSC Inc)

Agent's Election. Promptly after receipt of a request for a Borrowing pursuant to Section SECTION 2.3(a), Agent shall elect, in its discretion, (i) to have the terms of Section SECTION 2.3(c) apply to such requested Borrowing, or (ii) if the Borrowing is for an Advance, to request Swing Lender to make a Swing Loan pursuant to the terms of Section SECTION 2.3(d) in the amount of the requested Borrowing; provided, however, that if Swing Lender declines in its sole discretion to make a Swing Loan pursuant to Section SECTION 2.3(d), Agent shall elect to have the terms of Section SECTION 2.3(c) apply to such requested Borrowing.

Appears in 3 contracts

Samples: Loan and Security Agreement (Phonetel Technologies Inc), Loan and Security Agreement (Phonetel Technologies Inc), Loan and Security Agreement (Guitar Center Inc)

Agent's Election. Promptly after receipt of a request for a Borrowing pursuant to Section 2.3(a), Agent shall elect, in its discretion, (i) to have the terms of Section 2.3(c) apply to such requested Borrowing, or (ii) if the Borrowing is for an Advance, to request Swing Lender to make a Swing Loan pursuant to the terms of Section 2.3(d) in the amount of the requested Borrowing; provided, however, that if Swing Lender declines in its sole discretion to make a Swing Loan pursuant to Section 2.3(d), Agent shall elect to have the terms of Section 2.3(c) apply to such requested Borrowing.

Appears in 3 contracts

Samples: Loan and Security Agreement (Guitar Center Inc), Loan and Security Agreement (Guitar Center Inc), Loan and Security Agreement (Sholodge Inc)

Agent's Election. Promptly after receipt of a request for a Borrowing pursuant to Section 2.3(a), Agent shall elect, in its discretion, (i) to have the terms of Section 2.3(c) apply to such requested Borrowing, or (ii) if the Borrowing is for an Advance, to request Swing Lender to make a Swing Loan pursuant to the terms of Section 2.3(d) in the amount of the requested Borrowing; provided, however, that if Swing Lender declines in its sole discretion to make a Swing Loan pursuant to Section 2.3(d), Agent shall elect to have the terms of Section 2.3(c) apply to such requested Borrowing.

Appears in 2 contracts

Samples: Loan and Security Agreement (Hudson Highland Group Inc), Loan and Security Agreement (Hudson Highland Group Inc)

Agent's Election. Promptly after receipt of a request for a Borrowing pursuant to Section 2.3(a)) in excess of $5,000,000, the Agent shall may elect, in its discretion, (i) to have the terms of Section 2.3(c) apply to such requested Borrowing, or (ii) if the Borrowing is for an Advance, to request Swing Lender to make a Swing Loan pursuant to the terms of Section 2.3(d2.3(i) in the amount of the requested Borrowing; provided, however, that if Swing Lender declines in its sole discretion to make a Swing Loan pursuant to Section 2.3(d2.3(i), Agent shall elect to have the terms of Section 2.3(c) apply to such requested Borrowing. Any requested Borrowing of $5,000,000 or less under the Standard Line shall be made as a Swing Loan pursuant to the terms of Section 2.3(i).

Appears in 2 contracts

Samples: Loan and Security Agreement (Right Start Inc /Ca), Loan and Security Agreement (Fao Inc)

Agent's Election. Promptly after receipt of a request for a Borrowing pursuant to Section 2.3(a), Agent shall elect, in its discretion, (i) to have the terms of Section 2.3(c) apply to such requested Borrowing, or (ii) if the Borrowing is for an a Revolver A Advance, to request Swing Lender to make a Swing Loan pursuant to the terms of Section 2.3(d) in the amount of the requested Borrowing; provided, however, that if Swing Lender declines in its sole discretion to make a Swing Loan pursuant to Section 2.3(d), Agent shall elect to have the terms of Section 2.3(c) apply to such requested Borrowing.

Appears in 1 contract

Samples: Loan and Security Agreement (Numatics Inc)

Agent's Election. Promptly after receipt of a request for a Borrowing pursuant to Section 2.3(a), Agent shall elect, in its reasonable discretion, (i) to have the terms of Section 2.3(c) apply to such requested Borrowing, or (ii) if the Borrowing is for an Advance, to request Swing Lender to make a Swing Loan pursuant to the terms of Section 2.3(d) in the amount of the requested Borrowing; provided, however, that if Swing Lender declines in its sole discretion to make a Swing Loan pursuant to Section 2.3(d), Agent shall elect to have the terms of Section 2.3(c) apply to such requested Borrowing.

Appears in 1 contract

Samples: Loan and Security Agreement (Metalico Inc)

Agent's Election. Promptly after receipt of a request for a Borrowing pursuant to Section 2.3(a), Agent shall elect, in its discretion, (i) to have the terms of Section 2.3(c) apply to such requested Borrowing, or (ii) if the Borrowing is for an a Revolver A Advance, to request Swing Lender to make a Swing Loan pursuant to the terms of Section 2.3(d) in the amount of the requested Borrowing; provided, however, that that, if Swing Lender declines in its sole discretion to make a Swing Loan pursuant to Section 2.3(d), Agent shall elect to have the terms of Section 2.3(c) apply to such requested Borrowing.

Appears in 1 contract

Samples: Loan and Security Agreement (Abraxas Petroleum Corp)

Agent's Election. Promptly after receipt of a request for a Borrowing pursuant to Section 2.3(a), Agent shall elect, in its discretion, (i) to have the terms of Section 2.3(c) apply to such requested Borrowing, or (ii) if the Borrowing is for an Advance, to request Swing Lender to make a Swing Loan pursuant to the terms of Section 2.3(d) in the amount of the requested Borrowing; provided, however, that if Swing Lender declines in its sole discretion to make a Swing Loan pursuant to Section 2.3(d), Agent shall elect to have the terms of Section 2.3(c) apply to such requested BorrowingBorrowing and shall cause such Advance to be funded on the same day as requested so long as the request is received no later than 10:00 a.m. (California time).

Appears in 1 contract

Samples: Loan and Security Agreement (Hudson Respiratory Care Inc)

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Agent's Election. Promptly after receipt of a request for a Borrowing pursuant to Section 2.3(a), Agent shall elect, in its discretion, (i) to have the terms of Section 2.3(c) apply to such requested Borrowing, or (ii) if the Borrowing is for an a Base Rate Standard Advance, to request Swing Lender to make a Swing Loan pursuant to the terms of Section 2.3(d) in the amount of the requested Borrowing; provided, however, that if Swing Lender declines in its sole discretion to make a Swing Loan pursuant to Section 2.3(d), Agent shall elect to have the terms of Section 2.3(c) apply to such requested Borrowing.

Appears in 1 contract

Samples: And Consolidated Loan and Security Agreement (Big Dog Holdings Inc)

Agent's Election. Promptly after receipt of a request for a Borrowing pursuant to Section 2.3(a), Agent shall elect, in its discretion, (i) to have the terms of Section 2.3(c) apply to such requested Borrowing, or (ii) if the Borrowing is for an Advance, a Revolving Advance to request Swing Lender to make a Swing Loan pursuant to the terms of Section 2.3(d) in the amount of the requested Borrowing; provided, however, that if Swing Lender declines in its sole discretion to make a Swing Loan pursuant to Section 2.3(d), Agent shall elect to have the terms of Section 2.3(c) apply to such requested Borrowing.

Appears in 1 contract

Samples: Possession Loan and Security Agreement

Agent's Election. Promptly after receipt of a request for a Borrowing pursuant to Section 2.3(a), Agent shall elect, in its discretion, (i) to have the terms of Section 2.3(c) apply to such requested Borrowing, or (ii) if the Borrowing is for an a Base Rate Advance, to request Swing Lender to make a Swing Loan pursuant to the terms of Section 2.3(d) in the amount of the requested Borrowing; provided, however, that if Swing Lender declines in its sole discretion to make a Swing Loan pursuant to Section 2.3(d), Agent shall elect to have the terms of Section 2.3(c) apply to such requested Borrowing.

Appears in 1 contract

Samples: Loan and Security Agreement (Big Dog Holdings Inc)

Agent's Election. Promptly after receipt of a request for a Borrowing pursuant to Section 2.3(a2.2(a), Agent shall elect, in its discretion, (i) to have the terms of Section 2.3(c2.2(c) apply to such requested Borrowing, or (ii) if the Borrowing is for an Advance, to request Swing Lender to make a Swing Loan pursuant to the terms of Section 2.3(d2.2(d) in the amount of the requested Borrowing; provided, however, that if Swing Lender declines in its sole discretion to make a Swing Loan pursuant to Section 2.3(d2.2(d), Agent shall elect to have the terms of Section 2.3(c2.2(c) apply to such requested Borrowing.

Appears in 1 contract

Samples: Loan and Security Agreement (Ultimate Electronics Inc)

Agent's Election. Promptly after receipt of a request for a Borrowing pursuant to Section 2.3(aSECTION 2.3(A), Agent shall elect, in its discretion, (i) to have the terms of Section 2.3(cSECTION 2.3(C) apply to such requested Borrowing, or (ii) if the Borrowing is for an Advance, to request Swing Lender to make a Swing Loan pursuant to the terms of Section 2.3(dSECTION 2.3(D) in the amount of the requested Borrowing; providedPROVIDED, howeverHOWEVER, that if Swing Lender declines in its sole discretion to make a Swing Loan pursuant to Section 2.3(dSECTION 2.3(D), Agent shall elect to have the terms of Section 2.3(cSECTION 2.3(C) apply to such requested Borrowing.

Appears in 1 contract

Samples: Loan and Security Agreement (Foster Wheeler LTD)

Agent's Election. Promptly after receipt of a request for a Borrowing pursuant to Section 2.3(a2.4(a), Agent shall elect, in its discretion, (i) to have the terms of Section 2.3(c2.4(c) apply to such requested Borrowing, or (ii) if in the Borrowing is case of a request for an a Tranche A Advance, to request Swing Lender to make a Swing Loan pursuant to the terms of Section 2.3(d2.4(d) in the amount of the requested Borrowing; provided, however, that if Swing Lender declines in its sole discretion to make a Swing Loan pursuant to Section 2.3(d2.4(d), Agent shall elect to have the terms of Section 2.3(c2.4(c) apply to such requested Borrowing.

Appears in 1 contract

Samples: Loan Agreement (Philip Services Corp/De)

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