Borrower Requests. Borrower may request subsequent Revolving Loan Advances at any time, but not more often than once each Business Day, by submitting a request therefor to Administrative Agent as provided in Section 7.10. Administrative Agent may treat every request for a Revolving Loan Advance that is a Base Rate Advance as a request for a Swingline Advance to the extent the requested amount does not exceed the Maximum Swingline Amount and as a request for a Revolving Loan Advance in the amount of the excess. Administrative Agent may treat every request for an Advance as a request for a Base Rate Advance if Borrower does not specify that such Advance is to be a Eurodollar Advance in Borrower's request for an Advance. Every request for a Revolving Loan Advance shall be irrevocable. A request for a Revolving Loan Advance received by Administrative Agent on a day that is not a Business Day or that is received by Administrative Agent after 12:00 noon (Local Time) (or 2:00 p.m. (Local Time) in the case of a request for a Revolving Loan Advance which will, subject to the terms of this Agreement, be treated by Administrative Agent as a request for a Swingline Advance) on a Business Day shall be treated as having been received by Administrative Agent prior to 12:00 noon (Local Time) (or 2:00 p.m. (Local Time) in the case of a request for a Revolving Loan Advance which will, subject to the terms of this Agreement, be treated by Administrative Agent as a request for a Swingline Advance) on the next Business Day.
Appears in 2 contracts
Samples: Loan Agreement (Layne Christensen Co), Loan Agreement (Angelica Corp /New/)
Borrower Requests. Borrower may request subsequent Revolving Loan Advances at any time, but not more often than once each Business Day, by submitting a request therefor to Administrative Agent as provided in Section 7.10. Administrative Agent may treat every request for a Revolving Loan Advance that is a Base Rate Advance as a request for a Swingline Advance to the extent the requested amount does not exceed the Maximum Swingline Amount and as a request for a Revolving Loan Advance in the amount of the excess. Administrative Agent may treat every request for an a Revolving Loan Advance as a request for a Base Rate Advance if Borrower does not specify that such Revolving Loan Advance is to be a Eurodollar Advance in Borrower's request for an a Revolving Loan Advance. Every request for a Revolving Loan Advance shall be irrevocable. A request for a Revolving Loan Advance received by Administrative Agent on a day that is not a Business Day or that is received by Administrative Agent after 12:00 noon (Local Time) (or 2:00 p.m. (Local Time) in the case of a request for a Revolving Loan Advance which will, subject to the terms of this Agreement, be treated by Administrative Agent as a request for a Swingline Advance) on a Business Day shall be treated as having been received by Administrative Agent prior to 12:00 noon (Local Time) (or 2:00 p.m. (Local Time) in the case of a request for a Revolving Loan Advance which will, subject to the terms of this Agreement, be treated by Administrative Agent as a request for a Swingline Advance) on the next Business Day.
Appears in 1 contract
Samples: Loan Agreement (Angelica Corp /New/)
Borrower Requests. Borrower may request subsequent Revolving Loan Advances at any time, but not more often than once each Business Day, by submitting a request therefor to Administrative Agent as provided in Section 7.10. Administrative Agent may treat every request for a Revolving Loan Advance that is a Base Rate Advance as a request for a Swingline Advance to the extent the requested amount does not exceed the Maximum Swingline Amount and as a request for a Revolving Loan Advance in the amount of the excess. Administrative Agent may treat every request for an Advance as a request for a Base Rate Advance if Borrower does not specify that such Advance is to be a Eurodollar LIBOR Advance in Borrower's ’s request for an Advance. Every request for a Revolving Loan Advance shall be irrevocable. A request for a Revolving Loan Advance received by Administrative Agent on a day that is not a Business Day or that is received by Administrative Agent after 12:00 noon (Local Time) (or 2:00 p.m. (Local Time) in the case of a request for a Revolving Loan Advance which will, subject to the terms of this Agreement, be treated by Administrative Agent as a request for a Swingline Advance) on a Business Day shall be treated as having been received by Administrative Agent prior to 12:00 noon (Local Time) (or 2:00 p.m. (Local Time) in the case of a request for a Revolving Loan Advance which will, subject to the terms of this Agreement, be treated by Administrative Agent as a request for a Swingline Advance) on the next Business Day; provided, however, a request for a LIBOR Advance must be given prior to 11:00 a.m., Local Time, at least three (3) Business Days prior to the Advance Date for such LIBOR Advance.
Appears in 1 contract
Borrower Requests. Borrower may request subsequent Revolving Loan Advances at any time, but not more often than once each Business Day, by submitting a request therefor to Administrative Agent as provided in Section 7.10. Administrative Agent may treat every request for a Revolving Loan Advance that is a Base Rate Advance as a request for a Swingline Advance to the extent the requested amount does not exceed the Maximum Swingline Amount and as a request for a Revolving Loan Advance in the amount of the excess. Administrative Agent may treat every request for an a Revolving Loan Advance as a request for a Base Rate Advance if Borrower does not specify that such Revolving Loan Advance is to be a Eurodollar LIBOR Advance in Borrower's request for an a Revolving Loan Advance. Every request for a Revolving Loan Advance shall be irrevocable. A request for a Revolving Loan Advance received by Administrative Agent on a day that is not a Business Day or that is received by Administrative Agent after 12:00 noon (Local Time) (or 2:00 p.m. (Local Time) in the case of a request for a Revolving Loan Advance which will, subject to the terms of this Agreement, be treated by Administrative Agent as a request for a Swingline Advance) on a Business Day shall be treated as having been received by Administrative Agent prior to 12:00 noon (Local Time) (or 2:00 p.m. (Local Time) in the case of a request for a Revolving Loan Advance which will, subject to the terms of this Agreement, be treated by Administrative Agent as a request for a Swingline Advance) on the next Business Day.
Appears in 1 contract
Samples: Loan Agreement (Angelica Corp /New/)