Common use of Agent's Election Clause in Contracts

Agent's Election. Promptly after receipt of a request for a Borrowing pursuant to Section 2.1(d) in excess of $5,000,000, the Agent shall elect, in its discretion, (i) to have the terms of Section 2.1(f) apply to such requested Borrowing, or (ii) to make an Agent Loan pursuant to the terms of Section 2.1(g) in the amount of the requested Borrowing. Any requested Borrowing of $5,000,000 or less shall be made as an Agent Loan pursuant to the terms of Section 2.1(g).

Appears in 3 contracts

Samples: Loan and Security Agreement (Samuels Jewelers Inc), Possession Loan and Security Agreement (Factory Card Outlet Corp), Loan and Security Agreement (RDM Sports Group Inc)

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Agent's Election. Promptly after receipt of a request for a Borrowing pursuant to Section 2.1(d) in excess of $5,000,000250,000, the Agent shall elect, in its discretion, (i) to have the terms of Section 2.1(f) apply to such requested Borrowing, or (ii) to make an Agent Loan pursuant to the terms of Section 2.1(g) in the amount of the requested Borrowing. Any requested Borrowing of $5,000,000 250,000 or less shall be made as an Agent Loan pursuant to the terms of Section 2.1(g).

Appears in 1 contract

Samples: Loan and Security Agreement (Areawide Cellular Inc)

Agent's Election. Promptly after receipt of a request for a Borrowing pursuant to Section SECTION 2.1(d) in excess of $5,000,000, the Agent shall elect, in its discretion, (i) to have the terms of Section SECTION 2.1(f) apply to such requested Borrowing, or (ii) to make an Agent Loan pursuant to the terms of Section SECTION 2.1(g) in the amount of the requested Borrowing. Any requested Borrowing of $5,000,000 or less shall be made as an Agent Loan pursuant to the terms of Section SECTION 2.1(g).

Appears in 1 contract

Samples: Loan and Security Agreement (Gantos Inc)

Agent's Election. Promptly after receipt of a request for a Borrowing pursuant to Section 2.1(d) in excess of $5,000,0008,000,000, the Agent shall elect, in its discretion, (i) to have the terms of Section 2.1(f2.1(g) apply to such requested Borrowing, or (ii) to make an Agent Loan pursuant to the terms of Section 2.1(g2.1(h) in the amount of the requested Borrowing. Any requested Borrowing of $5,000,000 8,000,000 or less shall be made as an Agent Loan pursuant to the terms of Section 2.1(g2.1(h).

Appears in 1 contract

Samples: Loan and Security Agreement (Childrens Place Retail Stores Inc)

Agent's Election. Promptly after receipt of a request for a Borrowing pursuant to Section 2.1(d2.1(f) in excess of $5,000,000, the Agent shall elect, in its discretion, (i) to have the terms of Section 2.1(f2.1(h) apply to such requested Borrowing, or (ii) to make an Agent Loan pursuant to the terms of Section 2.1(g2.1(i) in the amount of the requested Borrowing. Any requested Borrowing of $5,000,000 or less shall be made as an Agent Loan pursuant to the terms of Section 2.1(g2.1(i).

Appears in 1 contract

Samples: Loan and Security Agreement (Todays Man Inc)

Agent's Election. Promptly after receipt of a request for a Borrowing of an Advance pursuant to Section 2.1(d2.1(e) in excess of an amount equal to or less than $5,000,000, the Agent shall elect, in its discretion, (i) to have the terms of Section 2.1(f2.1(g) apply to such requested Borrowing, or (ii) to make an Agent Loan pursuant to the terms of Section 2.1(g2.1(h) in the amount of the requested Borrowing. Any requested Borrowing of in an amount greater than $5,000,000 or less shall be made as an Agent Loan pursuant to the terms of Section 2.1(g).

Appears in 1 contract

Samples: Loan and Security Agreement (Leslies Poolmart Inc)

Agent's Election. Promptly after receipt of a request for a Borrowing pursuant to Section 2.1(d2.1(e) in excess of $5,000,00020,000,000, the Agent shall elect, in its discretion, (i) to have the terms of Section 2.1(f2.1(g) apply to such requested Borrowing, or (ii) to make an Agent Loan pursuant to the terms of Section 2.1(g2.1(h) in the amount of the requested Borrowing. Any requested Borrowing of $5,000,000 20,000,000 or less shall be made as an Agent Loan pursuant to the terms of Section 2.1(g2.1(h).

Appears in 1 contract

Samples: Loan and Security Agreement (Childrens Place Retail Stores Inc)

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Agent's Election. Promptly after receipt of a request for a Borrowing pursuant to Section SECTION 2.1(d) in excess of $5,000,0008,000,000, the Agent shall elect, in its discretion, (i) to have the terms of Section SECTION 2.1(f) apply to such requested Borrowing, or (ii) to make an Agent Loan pursuant to the terms of Section SECTION 2.1(g) in the amount of the requested Borrowing. Any requested Borrowing of $5,000,000 8,000,000 or less shall be made as an Agent Loan pursuant to the terms of Section SECTION 2.1(g).

Appears in 1 contract

Samples: Loan and Security Agreement (Childrens Place Retail Stores Inc)

Agent's Election. Promptly after receipt of a request for a Borrowing pursuant to Section 2.1(d) in excess of $5,000,000, the Agent shall elect, in its discretion, (i1) to have the terms of Section 2.1(f) apply to such requested Borrowing, or (ii) to make an Agent Loan pursuant to the terms of Section 2.1(g) in the amount of the requested Borrowing. Any requested Borrowing of $5,000,000 or less shall be made as an Agent Loan pursuant to the terms of Section 2.1(g).

Appears in 1 contract

Samples: Loan and Security Agreement (Leslies Poolmart Inc)

Agent's Election. Promptly after receipt of a request for a ---------------- Borrowing pursuant to Section 2.1(d) in excess of $5,000,000, the Agent shall -------------- elect, in its discretion, (i) to have the terms of Section 2.1(f) apply to such -------------- requested Borrowing, or (ii) to make an Agent Loan pursuant to the terms of Section 2.1(g) in the amount of the requested Borrowing. Any requested Borrowing -------------- of $5,000,000 or less shall be made as an Agent Loan pursuant to the terms of Section 2.1(g).. --------------

Appears in 1 contract

Samples: Loan and Security Agreement (Leslies Poolmart Inc)

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