Common use of Authorization to Make Loans Clause in Contracts

Authorization to Make Loans. Lender is authorized to make the Loans and provide the Letter of Credit Accommodations based upon telephonic or other instructions received from anyone reasonably believed by Lender to be an approved officer of Borrower or other person authorized to act on behalf of Borrower pursuant to this Agreement or, at the discretion of Lender, if such Loans are necessary to satisfy any Obligations. All requests for Loans or Letter of Credit Accommodations hereunder shall specify the date on which the requested advance is to be made or Letter of Credit Accommodations established (which day shall be a Business Day) and the amount of the requested Loan. Requests received after 11:00 a.m. New York City time on any day shall be deemed to have been made as of the opening of business on the immediately following Business Day. All Loans and Letter of Credit Accommodations under this Agreement shall be conclusively presumed to have been made to, and at the request of and for the benefit of, Borrower when deposited to the credit of Borrower or otherwise disbursed or established in accordance with the instructions of Borrower or in accordance with the terms and conditions of this Agreement

Appears in 3 contracts

Samples: Loan and Security Agreement (Vector Group LTD), Loan and Security Agreement (Vector Group LTD), Loan and Security Agreement (Vector Group LTD)

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Authorization to Make Loans. Lender is (a) Agent and Lenders are authorized to make the Loans and provide the Letter of Credit Accommodations based upon telephonic or other instructions received from anyone reasonably purporting to be (and believed by Lender Agent to be be) an approved officer of Borrower or other authorized person authorized to act on behalf of Borrower pursuant to this Agreement or, at the discretion of LenderAgent, if such Loans are necessary to satisfy any Obligations. All requests for Loans or Letter of Credit Accommodations hereunder shall specify the date on which the requested advance is to be made or Letter of Credit Accommodations established (which day shall be a Business Day) and the amount of the requested Loan. Requests received after 11:00 a.m. New York City 12:00 noon Chicago time on any day shall be deemed to have been made as of the opening of business on the immediately following Business Day. All Loans and Letter of Credit Accommodations under this Agreement shall be conclusively presumed to have been made to, and at the request of and for the benefit of, Borrower when deposited to the credit of Borrower or otherwise disbursed or established in accordance with the instructions of Borrower or in accordance with the terms and conditions of this Agreement.

Appears in 2 contracts

Samples: Loan and Security Agreement (Haynes International Inc), Loan and Security Agreement (Haynes International Inc)

Authorization to Make Loans. Lender is authorized to make the Loans and provide the Letter of Credit Accommodations based upon telephonic or other instructions received from anyone reasonably believed by Lender purporting to be an approved officer one of such persons as the President of Borrower or other person authorized may, from time to act on behalf of Borrower pursuant time, designate in a written notice to this Agreement Lender or, at the discretion of Lender, if such Loans are necessary to satisfy any Obligations. All requests for Loans or Letter of Credit Accommodations hereunder shall specify the date on which the requested advance is to be made or Letter of Credit Accommodations established (which day shall be a Business Daybusiness day) and the amount of the requested Loan. Requests for Revolving Loans received before 11:00 a.m., New York time, shall be deemed to have been made on that day, and requests received after 11:00 a.m. a.m., New York City time time, on any day shall be deemed to have been made as of the opening of business on the immediately following Business Daybusiness day. Revolving Loans shall be transferred to an account designated by Borrower on the day requested or deemed requested as provided in the preceding sentence. All Loans and Letter of Credit Accommodations under this Agreement shall be conclusively presumed to have been made to, and at the request of and for the benefit of, Borrower when deposited to the credit of Borrower or otherwise disbursed or established in accordance with the instructions of Borrower or in accordance with the terms and conditions of this Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (Diplomat Corp)

Authorization to Make Loans. Lender is authorized to make the Loans and provide the Letter of Credit Accommodations based upon telephonic or other instructions received from anyone reasonably believed by Lender purporting to be an approved officer of a Borrower or other person the Borrowers' Representative who has been designated in writing as authorized to act on behalf of Borrower pursuant to this Agreement give such instructions, or, at the discretion of Lender, if such Loans are necessary to satisfy any Obligations. All requests for Loans or Letter of Credit Accommodations hereunder shall specify the date on which the requested advance is to be made or Letter of Credit Accommodations established (which day shall be a Business Day) and the amount of the requested Loan. Requests received after 11:00 a.m. New York City time on any day shall be deemed to have been made as of the opening of business on the immediately following Business Day. All Loans and Letter of Credit Accommodations under this Agreement shall be conclusively presumed to have been made to, and at the request of and for the benefit of, a Borrower when deposited to the credit of such Borrower or otherwise disbursed or established in accordance with the instructions of such Borrower or in accordance with the terms and conditions of this Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (Decorative Home Accents Inc)

Authorization to Make Loans. Lender is (a) Agent and Lenders are authorized to make the Loans and provide the Letter of Credit Accommodations based upon telephonic or other instructions received from anyone reasonably believed by Lender purporting to be an approved authorized officer of Borrower Representative (as set forth in the Information Certificate) or other authorized person authorized to act on behalf of Borrower pursuant to this Agreement or, at the discretion of LenderAgent, if such Loans are necessary to satisfy any Obligations. All requests for Loans or Letter of Credit Accommodations hereunder shall be made to the Agent and shall specify the date on which the requested advance is to be made or Letter of Credit Accommodations established (which day shall be a Business Day) and the amount of the requested Loan. Requests received after 11:00 a.m. New York City Boston, Massachusetts time on any day shall be deemed to have been made as of the opening of business on the immediately following Business Day. All Loans and Letter of Credit Accommodations under this Agreement shall be conclusively presumed to have been made to, and at the request of and for the benefit of, Borrower Borrowers when deposited to the credit of Borrower Borrowers or otherwise disbursed or established in accordance with the instructions of Borrower Borrowers or in accordance with the terms and conditions of this Agreement; and

Appears in 1 contract

Samples: Loan and Security Agreement (Clean Harbors Inc)

Authorization to Make Loans. Lender is authorized to make the Loans and provide the Letter of Credit Accommodations based upon telephonic or other instructions received from anyone reasonably believed by Lender purporting to be an approved officer of any Borrower or other authorized person authorized to act on behalf of Borrower pursuant to this Agreement or, at the discretion of Lender, if such Loans are necessary to satisfy any Obligations. All requests for Loans or Letter of Credit Accommodations hereunder shall specify the date on which the requested advance is to be made or Letter of Credit Accommodations established (which day shall be a Business Day) and the amount of the requested Loan. Requests received after 11:00 a.m. New York City time on any day shall be deemed to have been made as of the opening of business on the immediately following Business Day. All Loans and Letter of Credit Accommodations under this Agreement shall be conclusively presumed to have been made to, and at the request of and for the benefit of, Borrower Borrowers when deposited to the credit of any Borrower or otherwise disbursed or established in accordance with the instructions of Borrower Borrowers (or xXXxX*s on behalf of Borrowers) or in accordance with the terms and conditions of this Agreement.

Appears in 1 contract

Samples: Credit Agreement (Delias Inc)

Authorization to Make Loans. (a) Lender is authorized to make the Loans and provide the Letter of Credit Accommodations based upon telephonic or other instructions received from anyone reasonably believed by Lender purporting to be an approved officer of Borrower or other authorized person authorized to act on behalf of Borrower pursuant to this Agreement or, at the discretion of Lender, if such Loans are necessary to satisfy any ObligationsObligations then due and payable. All requests for Loans or Letter of Credit Accommodations hereunder shall specify specify: (i) the Borrower to whom such Loan is being made, (ii) the date on which the requested advance is to be made or Letter of Credit Accommodations established (which day shall be a Business Day) and (iii) the amount of the requested Loan. Requests received after 11:00 a.m. 12:30 p.m. New York City time on any day shall be deemed to have been made as of the opening of business on the immediately following Business Day. All Loans and Letter of Credit Accommodations under this Agreement shall be conclusively presumed to have been made to, and at the request of and for the benefit of, of a Borrower when deposited to the credit bank account of such Borrower as is specified by such Borrower in accordance with the terms hereof or otherwise disbursed or established in accordance with the instructions of any Borrower or in accordance with the terms and conditions of this Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (Safety Components International Inc)

Authorization to Make Loans. Lender is Agent and Lenders are authorized to --------------------------- make the Loans and provide the Letter of Credit Accommodations based upon telephonic or other instructions received from anyone reasonably believed by Lender purporting to be an approved officer of any Borrower or Borrowers' Agent or other authorized person authorized to act on behalf of Borrower pursuant to this Agreement or, at the discretion of LenderAgent, if such Loans are necessary to satisfy any ObligationsObligations then due and payable. All requests for Loans or Letter of Credit Accommodations hereunder shall specify the date on which the requested advance is to be made or Letter of Credit Accommodations established (which day shall be a Business Day) and the amount of the requested Loan. Requests received after 11:00 a.m. New York City time on any day shall be deemed to have been made as of the opening of business on the immediately following Business Day. All Loans and Letter of Credit Accommodations under this Agreement shall be conclusively presumed to have been made to, and at the request of and for the benefit of, Borrower Borrowers when deposited to the credit of such Borrower or otherwise disbursed or established in accordance with the instructions of such Borrower or Borrowers' Agent or in accordance with the terms and conditions of this Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (Charming Shoppes Inc)

Authorization to Make Loans. Lender is authorized to make the Loans and provide the Letter of Credit Accommodations based upon telephonic or other instructions received from anyone reasonably believed by Lender purporting to be an approved officer of a Borrower or other person authorized to act (including One Price for itself and/or on behalf of Borrower pursuant to this Agreement One Price PR) or other authorized person or, at the discretion of Lender, if such Loans are necessary to satisfy any Obligations. All requests for Loans or Letter of Credit Accommodations hereunder shall specify the date on which the requested advance is to be made or Letter of Credit Accommodations established (which day shall be a Business Day) and the amount of the requested Loan. Requests received after 11:00 a.m. New York City 12:00 noon Atlanta, Georgia time on any day shall be deemed to have been made as of the opening of business on the immediately following Business Daybusiness day. All Loans and Letter of Credit Accommodations under this Agreement shall be conclusively presumed to have been made to, and at the request of and for the benefit of, Borrower Borrowers when deposited to the credit of a Borrower or otherwise disbursed or established in accordance with the instructions of a Borrower (including One Price for itself and/or on behalf of One Price PR) or in accordance with the terms and conditions of this Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (One Price Clothing Stores Inc)

Authorization to Make Loans. Lender Agent, for the ratable benefit of Lenders, is authorized to make the Loans and provide the Letter of Credit Accommodations Accommodations, for the account and risk of Lenders, based upon telephonic or other instructions received from anyone reasonably believed by Lender purporting to be an approved officer of Borrower or other authorized person authorized to act on behalf of Borrower pursuant to this Agreement or, at the discretion of LenderAgent, if such Loans are necessary to satisfy any Obligations. All requests for Loans or Letter of Credit Accommodations hereunder shall specify the date on which the requested advance is to be made or Letter of Credit Accommodations established (which day shall be a Business Day) and the amount of the requested Loan. Requests received after 11:00 11:30 a.m. New York City Chicago, Illinois time on any day shall be deemed to have been made as of the opening of business on the immediately following Business Day. All Loans and Letter of Credit Accommodations under this Agreement shall be conclusively presumed to have been made to, and at the request of and for the benefit of, Borrower when deposited to the credit of Borrower or otherwise disbursed or established in accordance with the instructions of Borrower or in accordance with the terms and conditions of this Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (Payless Cashways Inc)

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Authorization to Make Loans. Lender is (a) Agent and Lenders are authorized to make the Loans and provide the Letter of Credit Accommodations based upon telephonic or other instructions received from anyone reasonably purporting to be (and believed by Agent or Canadian Lender to be be) an approved officer of US Borrower or a Canadian Borrower or other authorized person authorized to act on behalf of Borrower pursuant to this Agreement or, at the discretion of LenderAgent, if such Loans are necessary to satisfy any Obligations. All requests for Loans or Letter of Credit Accommodations hereunder shall specify the date on which the requested advance is to be made or Letter of Credit Accommodations established (which day shall be a Business Day) and the amount of the requested Loan. Requests received after 11:00 a.m. New York City 12:00 noon Chicago time on any day shall be deemed to have been made as of the opening of business on the immediately following Business Day. All Loans and Letter of Credit Accommodations under this Agreement shall be conclusively presumed to have been made to, and at the request of and for the benefit of, any Borrower or Guarantor when deposited to the credit of any Borrower or Guarantor or otherwise disbursed or established in accordance with the instructions of any Borrower or Guarantor or in accordance with the terms and conditions of this Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (Hartmarx Corp/De)

Authorization to Make Loans. Lender is authorized to make the --------------------------- Revolving Loans and provide the Letter of Credit Accommodations based upon telephonic or other instructions received from anyone reasonably believed by Lender purporting to be an approved officer of any Borrower or other person authorized to act on behalf of Borrower pursuant to this Agreement Person or, at the discretion of Lender, if such Revolving Loans are necessary to satisfy any Obligations. All requests for Revolving Loans or Letter of Credit Accommodations hereunder shall specify the date on which the requested advance is to be made or Letter of Credit Accommodations established (which day shall be a Business Day) and the amount of the requested Revolving Loan. Requests received after 11:00 a.m. New York City time on any day shall be deemed to have been made as of the opening of business on the immediately following Business Day. All Revolving Loans and Letter of Credit Accommodations under this Agreement shall be conclusively presumed to have been made to, and at the request of and for the benefit of, Borrower Borrowers when deposited to the credit of Borrower Borrowers or otherwise disbursed or established in accordance with the instructions of Borrower Borrowers or in accordance with the terms and conditions of this Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (Transit Group Inc)

Authorization to Make Loans. Agent and each Lender is authorized to make the Loans and provide the Letter of Credit Accommodations (a) based upon telephonic or other written instructions received from anyone reasonably believed by Lender purporting to be an approved officer of Borrower or other person authorized to act on behalf of in writing by Borrower pursuant to this Agreement or, or (b) at the discretion of LenderAgent, in accordance with the provisions of this Agreement, if such Loans are necessary to satisfy any Obligations. All requests for Loans or Letter of Credit Accommodations hereunder shall specify the date on which the requested advance is to be made or Letter of Credit Accommodations established (which day shall be a Business Daybusiness day) and the amount of the requested Loan. Requests received after 11:00 a.m. New York City 12:00 noon Toronto time on any day shall be deemed to have been made as of the opening of business on the immediately following Business Day. All Loans and Letter of Credit Accommodations under this Agreement shall be conclusively presumed to have been made to, and at the request of and for the benefit of, Borrower when deposited to the credit of Borrower or otherwise disbursed or established in accordance with the instructions of Borrower or in accordance with the terms and conditions of this Agreement.

Appears in 1 contract

Samples: Loan Agreement (Merisel Inc /De/)

Authorization to Make Loans. Lender Lenders' Agent is authorized to make the Revolving Loans and provide the Letter of Credit Accommodations based upon telephonic or other instructions received from anyone reasonably believed by Lender purporting to be an approved officer of a Borrower or of Borrowers' Agent or other authorized person authorized to act on behalf of Borrower pursuant to this Agreement or, at the discretion of LenderLenders' Agent, if such Revolving Loans are necessary to satisfy any Obligations. All requests for Revolving Loans or Letter of Credit Accommodations hereunder shall specify the date on which the requested advance is to be made or Letter of Credit Accommodations established (which day shall be a Business Day) and the amount of the requested Revolving Loan. Requests received after 11:00 a.m. New York City time 12:00 Noon Pacific Time on any day shall be deemed to have been made as of the opening of business on the immediately following Business Day. All Revolving Loans and Letter of Credit Accommodations under this Agreement shall be conclusively presumed to have been made to, and at the request of and for the benefit of, Borrower Borrowers when deposited to the credit of any Borrower or otherwise disbursed or established in accordance with the instructions of Borrowers' Agent or any Borrower or in accordance with the terms and conditions of this Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (Terex Corp)

Authorization to Make Loans. Lender is authorized to make the Loans and provide the Letter of Credit Accommodations based upon telephonic or other instructions received from anyone reasonably believed by Lender purporting to be an approved officer of Borrower or other authorized person authorized named in written notice from Borrower to act on behalf of Borrower pursuant Lender from time to this Agreement time or, at the discretion of Lender, if such Loans are necessary to satisfy any Obligations. All requests for Loans or Letter of Credit Accommodations hereunder shall specify the date on which the requested advance is to be made or Letter of Credit Accommodations established (which day shall be a Business Day) and the amount of the requested Loan. Requests received after 11:00 a.m. New York City time on any day shall be deemed to have been made as of the opening of business on the immediately following Business Day. All Loans and Letter of Credit Accommodations under this Agreement shall be conclusively presumed to have been made to, and at the request of and for the benefit of, Borrower when deposited to the credit of Borrower or otherwise disbursed or established in accordance with the instructions of Borrower or in accordance with the terms and conditions of this Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (Converse Inc)

Authorization to Make Loans. Lender is Agent and Lenders are authorized to make the Loans and provide the Letter of Credit Accommodations based upon telephonic or other instructions received from anyone reasonably purporting to be (and believed by Lender Agent to be be) an approved officer of Administrative Borrower or any Borrower or other authorized person authorized to act on behalf of Borrower pursuant to this Agreement or, at the discretion of LenderAgent, if such Loans are necessary to satisfy any Obligations. All requests for Loans or Letter of Credit Accommodations hereunder shall specify the date on which the requested advance is to be made or the requested Letter of Credit Accommodations established (which day shall be a Business Day) and the amount of the requested Loan. Requests received after 11:00 a.m. New York City time on any day shall be deemed to have been made as of the opening of business on the immediately following Business Day. All Loans and Letter of Credit Accommodations under this Agreement shall be conclusively presumed to have been made to, and at the request of and for the benefit of, any Borrower when deposited to the credit of any Borrower or otherwise disbursed or established in accordance with the instructions of any Borrower or in accordance with the terms and conditions of this Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (Lexington Precision Corp)

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