Common use of Agent's Election Clause in Contracts

Agent's Election. Promptly after receipt of a Notice of Borrowing (or telephonic or electronic notice in lieu thereof), the Agent shall elect to have the terms of Section 1.2(g) or the terms of Section 1.2(h) apply to such requested Borrowing. If the Bank declines in its sole discretion to make a Non-Ratable Loan pursuant to Section 1.2(h), the terms of Section 1.2(g) shall apply to the requested Borrowing.

Appears in 1 contract

Samples: Credit Agreement (Caraustar Industries Inc)

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Agent's Election. Promptly after receipt of a Notice of Borrowing (or telephonic or electronic notice in lieu thereof)Borrowing, the Agent shall elect to have the terms of Section 1.2(g), Section 1.2(h), Section 1.2(i) or the terms of Section 1.2(h1.2(j) apply to such requested Borrowing. If the Bank declines in its sole discretion to make a Non-Ratable Loan pursuant to Section 1.2(h), an Agent Advance pursuant to Section 1.2(i), or an Ex-Im Bank Guaranteed Loan pursuant to Section 1.2(j), the terms of Section 1.2(g) shall apply to the requested Borrowing.

Appears in 1 contract

Samples: Credit Agreement (Gundle SLT Environmental Inc)

Agent's Election. Promptly after receipt of a Notice of Borrowing (or telephonic or electronic notice in lieu thereof)) for a Base Rate Revolving Loan, the Agent shall elect to have the terms of Section 1.2(g) or the terms of Section 1.2(h) apply to such requested Borrowing. If the requested Borrowing consists of a LIBOR Revolving Loan or if the Bank otherwise declines in its sole discretion to make a Non-Ratable Loan pursuant to Section 1.2(h), the terms of Section 1.2(g) shall apply to the requested Borrowing.

Appears in 1 contract

Samples: Credit Agreement (Owens Corning)

Agent's Election. Promptly after receipt of a Notice of Borrowing (or telephonic or electronic notice in lieu thereof), the Agent shall elect to have the terms of Section 1.2(g) (Making of Revolving Loans) or the terms of Section 1.2(h) (Making of Non-Ratable Loans) apply to such requested Borrowing. If the Bank declines in its sole discretion to make a Non-Ratable Loan pursuant to Section 1.2(h) (Making of Non-Ratable Loans), the terms of Section 1.2(g) (Making of Revolving Loans) shall apply to the requested Borrowing.

Appears in 1 contract

Samples: Credit Agreement (Weston Roy F Inc)

Agent's Election. Promptly after receipt of a Notice of Borrowing (or telephonic or electronic notice in lieu thereof), the Agent shall elect to have the terms of Section 1.2(g1.2(h) or the terms of Section 1.2(h1.2(i) apply to such requested Borrowing. If the Bank Agent declines in its sole discretion to make a Non-Ratable Loan pursuant to Section 1.2(h1.2(i), the terms of Section 1.2(g1.2(h) shall apply to the requested Borrowing.

Appears in 1 contract

Samples: Credit Agreement (Salton Inc)

Agent's Election. Promptly after receipt of a Notice of Borrowing (or telephonic or electronic notice in lieu thereof) pursuant to Section2.2(b), the Agent shall elect elect, in its discretion, (i) to have the terms of Section 1.2(g) or the terms of Section 1.2(h2.2(g) apply to such requested Borrowing. If the Bank declines in its sole discretion to make a Non-Ratable Loan pursuant to Section 1.2(h), the terms of Section 1.2(g) shall apply to the requested Borrowing.or

Appears in 1 contract

Samples: Loan and Security Agreement

Agent's Election. Promptly after receipt of a Notice of Borrowing (or telephonic or electronic notice in lieu thereof), the Agent shall elect to have the terms of Section 1.2(g) or the terms of Section 1.2(h) or Section 1.2(j) apply to such requested Borrowing. If the Bank declines in its sole discretion to make a Non-Ratable Loan pursuant to Section 1.2(h) or an Ex-Im Bank Guaranteed Loan pursuant to Section 1.2(j), the terms of Section 1.2(g) shall apply to the requested Borrowing.

Appears in 1 contract

Samples: Credit Agreement (Unova Inc)

Agent's Election. Promptly after receipt of a Notice of Borrowing (or telephonic or electronic notice in lieu thereof), the Agent shall elect to have the terms of Section 1.2(g) or the terms of Section 1.2(h) apply to such requested Borrowing. If the Bank declines in its sole discretion to make a Non-Non Ratable Loan pursuant to Section 1.2(h) or an Ex-Im Bank Revolving Loan pursuant to Section 1.2(j), the terms of Section 1.2(g) shall apply to the requested Borrowing.

Appears in 1 contract

Samples: Credit Agreement (Unifi Inc)

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Agent's Election. Promptly after receipt of a U.S. Notice of Borrowing (or telephonic or electronic notice in lieu thereof), the Agent shall elect to have the terms of Section 1.2(g) or the terms of Section 1.2(h) (in the case of Section 1.2(h), only with respect to U.S. Base Rate Revolving Loans) apply to such requested Borrowing. If the Bank declines in its sole discretion to make a U.S. Non-Ratable Loan pursuant to Section 1.2(h), the terms of Section 1.2(g) shall apply to the requested Borrowing.

Appears in 1 contract

Samples: Credit Agreement (Gentek Inc)

Agent's Election. Promptly after receipt of a ---------------- Notice of Borrowing (or telephonic or electronic notice in lieu thereof), the Agent shall elect to have the terms of Section 1.2(g) or the terms of Section 1.2(h) -------------- -------------- apply to such requested Borrowing. If the Bank declines in its sole discretion to make a Non-Ratable Loan pursuant to Section 1.2(h), the terms -------------- of Section 1.2(g) shall apply to the requested Borrowing.. --------------

Appears in 1 contract

Samples: Credit Agreement (Mail Well Inc)

Agent's Election. Promptly after receipt of a Notice of Borrowing (or telephonic or electronic notice in lieu thereof)) or a deemed request for a Revolving Loan pursuant to Section 3.8, the Agent shall elect to have the terms of Section 1.2(g) or the terms of Section 1.2(h) apply to such requested (or deemed request for a) Borrowing. If the Bank declines in its sole discretion to make a Non-Ratable Loan pursuant to Section 1.2(h), the terms of Section 1.2(g) shall apply to the requested Borrowing.

Appears in 1 contract

Samples: Credit Agreement (Salton Inc)

Agent's Election. Promptly after receipt of a Notice of ---------------- Borrowing (or telephonic or electronic notice in lieu thereof), the Agent shall elect to have the terms of Section 1.2(g) or the terms of Section 1.2(h) apply to -------------- -------------- such requested Borrowing. If the Bank declines in its sole discretion to make a Non-Ratable Loan pursuant to Section 1.2(h), the terms of Section 1.2(g) -------------- -------------- shall apply to the requested Borrowing.

Appears in 1 contract

Samples: Credit Agreement (Mail Well Inc)

Agent's Election. Promptly after receipt of a Notice of Borrowing (or telephonic or electronic notice in lieu thereof), the Agent shall elect to have the terms of Section 1.2(g) or the terms of Section 1.2(h) apply to such requested Borrowing. If the Bank Agent declines in its sole discretion to make a Non-Ratable Loan pursuant to Section 1.2(h), the terms of Section 1.2(g) shall apply to the requested Borrowing.

Appears in 1 contract

Samples: Credit Agreement (Salton Inc)

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