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 4 contracts
Samples: Loan and Security Agreement (Abraxas Petroleum Corp), Loan and Security Agreement (Peregrine Systems Inc), Loan and Security Agreement (Etoys 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; 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 (Hologic Inc), Loan and Security Agreement (Cellstar Corp), Loan and Security Agreement (Friede Goldman Halter Inc)
Agent's Election. Promptly after receipt of a request for a Borrowing pursuant to SECTION 2.3(a2.3(A), Agent shall elect, in its discretion, (i) to have the terms of SECTION 2.3(c2.3(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(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(d2.3(D), Agent shall elect to have the terms of SECTION 2.3(c2.3(C) apply to such requested Borrowing.
Appears in 3 contracts
Samples: Loan and Security Agreement (James River Coal CO), Loan and Security Agreement (Evergreen International Aviation Inc), Loan and Security Agreement and Guaranty (Archibald Candy Corp)
Agent's Election. Promptly after receipt of a request for a Borrowing pursuant to SECTION 2.3(a2.3(A), Agent shall elect, in its discretion, (i) to have the terms of SECTION 2.3(c2.3(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(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(d2.3(D), Agent shall elect to have the terms of SECTION 2.3(c2.3(C) apply to such requested Borrowing.
Appears in 2 contracts
Samples: Loan and Security Agreement (Nabi Biopharmaceuticals), Loan and Security Agreement (Amtrol Inc /Ri/)
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(c2.3(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 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 a Base Rate Seasonal Advance or a Base Rate Standard 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 1 contract
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 AdvanceAdvance (other than an Advance that is to be a LIBOR Rate Loan), 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
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 1 contract
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(d2.3(e) 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
