Common use of Borrower Notice Clause in Contracts

Borrower Notice. The Borrower shall notify the Administrative Agent in writing in substantially the form attached as Exhibit C-2, of any election to terminate or reduce the Commitments under ‎Section 2.07(b) by 12:00 p.m. New York City time at least one Business Day (or, in the case of a prepayment of Term SOFR Loans, three Business Days) (or, in the case of a prepayment of any Alternative Currency Loan, four Business Days) (or in each case such shorter period as the Administrative Agent may agree in its sole discretion) prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly following receipt of any such notice, the Administrative Agent shall advise the applicable Lenders of the contents thereof. Each notice delivered by the Borrower pursuant to this Section shall be irrevocable; provided that a notice of termination of the Commitments delivered by the Borrower may state that such notice is conditioned upon the effectiveness of any other credit facilities or the closing of any securities offering, or the occurrence of any other event specified therein, in which case such notice may be revoked by the Borrower (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied and, for the avoidance of doubt, such notices may be updated after their initial delivery (including, without limitation, to delay the date of such termination or reduction) with the consent of the Administrative Agent (which consent shall not be unreasonably withheld or delayed). With respect to the effectiveness of any such other credit facilities or the closing of any such securities offering, the Borrower may extend the date of termination at any time with the consent of the Administrative Agent (which consent shall not be unreasonably withheld or delayed), and with respect to the occurrence of any such other event, the Borrower may extend the date of termination at any time with the consent of the Administrative Agent (which consent shall not be unreasonably withheld or delayed). Any termination or reduction of the Commitments of any Class shall be permanent. Each reduction of the Commitments of any Class shall be made ratably among the Lenders in accordance with their respective Commitments of such Class.

Appears in 1 contract

Samples: Credit Agreement (Ping Identity Holding Corp.)

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Borrower Notice. The Borrower shall notify the Administrative Agent in writing in substantially the form attached as Exhibit C-2, of any election to terminate or reduce the Commitments under ‎Section Section 2.07(b) by 12:00 p.m. New York City time at least one Business Day (or, in the case of a prepayment of Term SOFR Eurodollar Loans, three Business Days) (or, in the case of a prepayment of any Alternative Currency Loan, four Business Days) (or in each case such shorter period as the Administrative Agent may agree in its sole discretion) prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly following receipt of any such notice, the Administrative Agent shall advise the applicable Lenders of the contents thereof. Each notice delivered by the Borrower pursuant to this Section shall be irrevocable; provided that a Borrowing Request or a notice of termination of the Commitments delivered by the Borrower may state that such notice is conditioned upon the effectiveness of any other credit facilities or the closing of any securities offering, or the occurrence of any other event specified therein, in which case such notice may be revoked by the Borrower (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied and, for the avoidance of doubt, such notices Borrowing Requests may be updated after their initial delivery (including, without limitation, limitation to delay the date of such termination or reductionborrowing) with to the consent of extent acceptable to the Administrative Agent (which consent shall not be unreasonably withheld or delayed)in its sole discretion. With respect to the effectiveness of any such other credit facilities or the closing of any such securities offering, the Borrower may extend the date of termination at any time with the consent of the Administrative Agent (which consent shall not be unreasonably withheld or delayed), and with respect to the occurrence of any such other event, the Borrower may extend the date of termination at any time with the consent of the Administrative Agent (which consent shall not be unreasonably withheld or delayed). Any termination or reduction of the Commitments of any Class shall be permanent. Each reduction of the Commitments of any Class shall be made ratably among the Lenders in accordance with their respective Commitments of such Class.

Appears in 1 contract

Samples: Credit Agreement (Datto Holding Corp.)

Borrower Notice. The Borrower shall notify the Administrative Agent in writing in substantially the form attached as Exhibit C-2, of any election to terminate or reduce the any Commitments under ‎Section Section 2.07(b) by 12:00 p.m. New York City time at least one (1) Business Day (or, in the case of a prepayment of Term SOFR Eurodollar Loans, three Business Days(3) (or, in the case of a prepayment of any Alternative Currency Loan, four Business Days) (or in each case such shorter period as the Administrative Agent may agree in its sole discretion) prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly following receipt of any such notice, the Administrative Agent shall advise the applicable Lenders of the contents thereof. Each notice delivered by the Borrower pursuant to this Section shall be irrevocable; provided that a Borrowing Request or a notice of termination of the Commitments delivered by the Borrower may state that such notice is conditioned upon the effectiveness of any other credit facilities or the closing of any securities offering, or the occurrence of any other event specified therein, in which case such notice may be revoked by the Borrower (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied and, for the avoidance of doubt, such notices Borrowing Requests may be updated after their initial delivery (including, without limitation, limitation to delay the date of such termination or reductionborrowing) with to the consent of extent acceptable to the Administrative Agent (which consent shall not be unreasonably withheld or delayed)in its sole discretion. With respect to the effectiveness of any such other credit facilities or the closing of any such securities offering, the Borrower may extend the date of termination at any time with the consent of the Administrative Agent (which consent shall not be unreasonably withheld or delayed), and with respect to the occurrence of any such other event, the Borrower may extend the date of termination at any time with the consent of the Administrative Agent (which consent shall not be unreasonably withheld or delayed). Any termination or reduction of the Commitments of any Class Tranche shall be permanent. Each reduction of the Commitments of any Class Tranche shall be made ratably among the Lenders in accordance with their respective Commitments of such ClassTranche.

Appears in 1 contract

Samples: Second Lien Credit Agreement (Allvue Systems Holdings, Inc.)

Borrower Notice. The Borrower shall notify the Administrative Agent in writing in substantially the form attached as Exhibit C-2, of any election to terminate or reduce the Commitments under ‎Section Section 2.07(b) by 12:00 p.m. New York City time at least one (1) Business Day (or, in the case of a prepayment of Term SOFR Eurodollar Loans, three Business Days(3) (or, in the case of a prepayment of any Alternative Currency Loan, four Business Days) (or in each case such shorter period as the Administrative Agent may agree in its sole discretion) prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly following receipt of any such notice, the Administrative Agent shall advise the applicable Lenders of the contents thereof. Each notice delivered by the Borrower pursuant to this Section shall be irrevocable; provided that a Borrowing Request or a notice of termination of the Commitments delivered by the Borrower may state that such notice is conditioned upon the effectiveness of any other credit facilities or the closing of any securities offering, or the occurrence of any other event specified therein, in which case such notice may be revoked by the Borrower (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied and, for the avoidance of doubt, such notices Borrowing Requests may be updated after their initial delivery (including, without limitation, limitation to delay the date of such termination or reductionborrowing) with to the consent of extent acceptable to the Administrative Agent (which consent shall not be unreasonably withheld or delayed)in its sole discretion. With respect to the effectiveness of any such other credit facilities or the closing of any such securities offering, the Borrower may extend the date of termination at any time with the consent of the Administrative Agent (which consent shall not be unreasonably withheld or delayed), and with respect to the occurrence of any such other event, the Borrower may extend the date of termination at any time with the consent of the Administrative Agent (which consent shall not be unreasonably withheld or delayed). Any termination or reduction of the Commitments of any Class shall be permanent. Each reduction of the Commitments of any Class shall be made ratably among the Lenders in accordance with their respective Commitments of such Class.

Appears in 1 contract

Samples: First Lien Credit Agreement (Allvue Systems Holdings, Inc.)

Borrower Notice. The Borrower Borrowers shall notify the Administrative Agent in writing in substantially the form attached as Exhibit C-2, of any election to terminate or reduce the Commitments under ‎Section Section 2.07(b) by 12:00 p.m. New York City time at least one Business Day (or, in the case of a prepayment of Term SOFR Eurodollar Loans, three Business Days) (or, in the case of a prepayment of any Alternative Currency Loan, four Business Days) (or in each case such shorter period as the Administrative Agent may agree in its sole discretion) prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly following receipt of any such notice, the Administrative Agent shall advise the applicable Lenders of the contents thereof. Each notice delivered by the Borrower Borrowers pursuant to this Section shall be irrevocable; provided that a notice of termination of the Commitments delivered by the Borrower Borrowers may state that such notice is conditioned upon the effectiveness of any other credit facilities or the closing of any securities offering, or the occurrence of any other event specified therein, in which case such notice may be revoked by the Borrower Borrowers (by written notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied and, for the avoidance of doubt, such notices may be updated after their initial delivery (including, without limitation, to delay the date of such termination or reduction) with the consent of the Administrative Agent (which consent shall not be unreasonably withheld or delayed)satisfied. With respect to the effectiveness of any such other credit facilities or the closing of any such securities offering, the Borrower may extend the date of termination at any time with the consent of the Administrative Agent (which consent shall not be unreasonably withheld or delayed), and with respect to the occurrence of any such other event, the Borrower Borrowers may extend the date of termination at any time with the consent of the Administrative Agent (which consent shall not be unreasonably withheld or delayed). Any termination or reduction of the Commitments of any Class shall be permanent. Each reduction of the Commitments of any Class shall be made ratably among the Lenders in accordance with their respective Commitments of such Class.

Appears in 1 contract

Samples: Credit Agreement (Nutrition Topco, LLC)

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Borrower Notice. The Borrower Agent shall notify the Administrative Agent in writing in substantially the form attached as Exhibit C-2, of any election to terminate or reduce the Commitments under ‎Section Section 2.07(b) by 12:00 p.m. New York City time at least one Business Day (or, in the case of a prepayment of Term SOFR Eurocurrency RateSOFR Loans, three Business Days) (or, in the case of a prepayment of any Alternative Currency Loan, four Business Days) (or in each case such shorter period as the Administrative Agent may agree in its sole discretion) prior to the effective date of such termination or reduction, specifying such election 105 and the effective date thereof. Promptly following receipt of any such notice, the Administrative Agent shall advise the applicable Lenders of the contents thereof. Each notice delivered by the Borrower Agent pursuant to this Section shall be irrevocable; provided that a notice of termination of the Commitments delivered by the Borrower Agent may state that such notice is conditioned upon the effectiveness of any other credit facilities or the closing of any securities offering, or the occurrence of any other event specified therein, in which case such notice may be revoked by the Borrower Agent (by written notice (including by email) to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied and, for the avoidance of doubt, such notices may be updated after their initial delivery (including, without limitation, to delay the date of such termination or reduction) with the consent of the Administrative Agent (which consent shall not be unreasonably withheld or delayed). With respect to the effectiveness of any such other credit facilities or the closing of any such securities offering, the Borrower Agent may extend the date of termination at any time with the consent of the Administrative Agent (which consent shall not be unreasonably withheld or delayed), and with respect to the occurrence of any such other event, the Borrower Agent may extend the date of termination at any time with the consent of the Administrative Agent (which consent shall not be unreasonably withheld or delayed). Any termination or reduction of the Commitments of any Class Tranche shall be permanent. Each reduction of the Commitments of any Class Tranche shall be made ratably among the Lenders in accordance with their respective Commitments of such ClassTranche.

Appears in 1 contract

Samples: Second Lien Credit Agreement (Solera Corp.)

Borrower Notice. The Borrower Agent shall notify the Administrative Agent in writing in substantially the form attached as Exhibit C-2, of any election to terminate or reduce the Commitments under ‎Section Section 2.07(b) by 12:00 p.m. New York City time at least one Business Day (or, in the case of a prepayment of Term SOFR Eurocurrency Rate Loans, three Business Days) (or, in the case of a prepayment of any Alternative Currency Loan, four Business Days) (or in each case such shorter period as the Administrative Agent may agree in its sole discretion) prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly following receipt of any such notice, the Administrative Agent shall advise the applicable Lenders of the contents thereof. Each notice delivered by the Borrower Agent pursuant to this Section shall be irrevocable; provided that a notice of termination of the Commitments delivered by the Borrower Agent may state that such notice is conditioned upon the effectiveness of any other credit facilities or the closing of any securities offering, or the occurrence of any other event specified therein, in which case such notice may be revoked by the Borrower Agent (by written notice (including by email) to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied and, for the avoidance of doubt, such notices may be updated after their initial delivery (including, without limitation, to delay the date of such termination or reduction) with the consent of the Administrative Agent (which consent shall not be unreasonably withheld or delayed). With respect to the effectiveness of any such other credit facilities or the closing of any such securities offering, the Borrower Agent may extend the date of termination at any time with the consent of the Administrative Agent (which consent shall not be unreasonably withheld or delayed), and with respect to the occurrence of any such other event, the Borrower Agent may extend the date of termination at any time with the consent of the Administrative Agent (which consent shall not be unreasonably withheld or delayed). Any termination or reduction of the Commitments of any Class Tranche shall be permanent. Each reduction of the Commitments of any Class Tranche shall be made ratably among the Lenders in accordance with their respective Commitments of such ClassTranche.

Appears in 1 contract

Samples: Second Lien Credit Agreement (Solera Corp.)

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