Common use of Agent's Election Clause in Contracts

Agent's Election. Promptly after receipt of a Notice of Borrowing (or telephonic notice in lieu thereof) pursuant to Section 2.2(b), the Agent shall elect, in its discretion, (i) to have the terms of Section 2.2(g) apply to such requested Borrowing, or (ii) to request BABC to make a BABC Loan pursuant to the terms of Section 2.2(h) in the amount of the requested Borrowing; provided, however, that if BABC declines in its sole discretion to make a BABC Loan pursuant to Section 2.2(h), the Agent shall elect to have the terms of Section 2.2(g) apply to such requested Borrowing.

Appears in 11 contracts

Samples: Loan and Security Agreement (Merisel Inc /De/), Loan and Security Agreement (United States Leather Inc /Wi/), Loan and Security Agreement (Gt Bicycles Inc)

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Agent's Election. Promptly after receipt of a Notice of Borrowing (or telephonic notice in lieu thereof) pursuant to Section SECTION 2.2(b), the Agent shall elect, in its discretion, (i) to have the terms of Section SECTION 2.2(g) apply to such requested Borrowing, or (ii) to request BABC to make a BABC Loan pursuant to the terms of Section SECTION 2.2(h) in the amount of the requested Borrowing; providedPROVIDED, howeverHOWEVER, that if BABC declines in its sole discretion to make a BABC Loan pursuant to Section SECTION 2.2(h), the Agent shall elect to have the terms of Section SECTION 2.2(g) apply to such requested Borrowing.

Appears in 2 contracts

Samples: Loan and Security Agreement (Hills Stores Co /De/), Loan and Security Agreement (Hills Stores Co /De/)

Agent's Election. Promptly after receipt of a Notice of Borrowing (or telephonic notice in lieu thereof) pursuant to Section 2.2(b2.1(b), the Agent shall elect, in its discretion, (i) to have the terms of Section 2.2(g2.1(g) apply to such requested Borrowing, or (ii) to request BABC to make a BABC Loan pursuant to the terms of Section 2.2(h2.1(h) in the amount of the requested Borrowing; provided, however, that if BABC declines in its sole discretion to make a BABC Loan pursuant to Section 2.2(h2.1(h), the Agent shall elect to have the terms of Section 2.2(g2.1(g) apply to such requested Borrowing.

Appears in 1 contract

Samples: Loan and Security Agreement (Mercury Finance Co)

Agent's Election. Promptly after receipt of a Notice of Borrowing (or telephonic notice in lieu thereof) pursuant to Section 2.2(b), the Agent shall elect, in its discretion, (i) to have the terms of Section 2.2(g) apply to such requested Borrowing, or (ii) to request BABC BofA to make a BABC BofA Loan pursuant to the terms of Section 2.2(h) in the amount of the requested Borrowing; provided, however, that if BABC BofA declines in its sole discretion to make a BABC BofA Loan pursuant to Section 2.2(h), the Agent shall elect to have the terms of Section 2.2(g) apply to such requested Borrowing.

Appears in 1 contract

Samples: Loan and Security Agreement (Sweetheart Holdings Inc \De\)

Agent's Election. Promptly after receipt of a Notice of Borrowing (or telephonic notice in lieu thereof) pursuant to Section 2.2(bSECTION 2.2(B), the Agent shall elect, in its discretion, (i) to have the terms of Section 2.2(gSECTION 2.2(G) apply to such requested Borrowing, or (ii) to request BABC to make a BABC Loan pursuant to the terms of Section 2.2(hSECTION 2.2(H) in the amount of the requested Borrowing; providedPROVIDED, howeverHOWEVER, that if BABC declines in its sole discretion to make a BABC Loan pursuant to Section 2.2(hSECTION 2.2(H), the Agent shall elect to have the terms of Section 2.2(gSECTION 2.2(G) apply to such requested Borrowing.

Appears in 1 contract

Samples: Trademark Security Agreement (Trend Lines Inc)

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Agent's Election. Promptly after receipt of a Notice of Borrowing (or telephonic notice in lieu thereof) pursuant to Section 2.2(b), the Agent shall elect, in its discretion, (i) to have the terms of Section 2.2(g) apply to such requested Borrowing, or (ii) to request BABC BA to make a BABC BA Loan pursuant to the terms of Section 2.2(h) in the amount of the requested Borrowing; provided, however, that if BABC BA declines in its sole discretion to make a BABC BA Loan pursuant to Section 2.2(h), the Agent shall elect to have the terms of Section 2.2(g) apply to such requested Borrowing.

Appears in 1 contract

Samples: Loan and Security Agreement (Woodworkers Warehouse Inc)

Agent's Election. Promptly after receipt of a Notice of Borrowing (or telephonic notice in lieu thereof) pursuant to Section 2.2(b), the Agent shall elect, in its discretion, (i) to have the terms of Section 2.2(g) apply to such requested Borrowing, or (ii) to request BABC to make a BABC Loan pursuant to the terms of Section 2.2(h) in the amount of the requested Borrowing; provided, however, that if BABC declines in its sole discretion to make a BABC Loan pursuant to Section 2.2(h), the Agent shall elect to have the terms of Section 2.2(g) apply to such requested Borrowing. Nothing in this Section 2.2(f) or in Section 2.2(g) or Section 2.2(h) shall be interpreted to relieve BABC of its obligation to make Revolving Loans under its commitment.

Appears in 1 contract

Samples: Loan and Security Agreement (Centrum Industries Inc)

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