Common use of Borrower’s Failure to Notify Clause in Contracts

Borrower’s Failure to Notify. If the Borrower fails to give notice pursuant to Section 1.6(a) above of the continuation or conversion of any outstanding principal amount of a Borrowing of Eurodollar Loans before the last day of its then current Interest Period within the period required by Section 1.6(a) and such Borrowing is not prepaid in accordance with Section 1.8(a), such Borrowing shall automatically be continued as a Borrowing of Eurodollar Loans with an Interest Period of one (1) month. In the event the Borrower fails to give notice pursuant to Section 1.6(a) above of a Borrowing equal to the amount of a Reimbursement Obligation and has not notified the Administrative Agent by 2:00 p.m. (Chicago time) on the day such Reimbursement Obligation becomes due that it intends to repay such Reimbursement Obligation through funds not borrowed under this Agreement, the Borrower shall be deemed to have requested a Borrowing of Base Rate Loans under the Revolving Credit (or, at the option of the Swing Line Lender, under the Swing Line) on such day in the amount of the Reimbursement Obligation then due, which Borrowing shall be applied to pay the Reimbursement Obligation then due.

Appears in 11 contracts

Samples: Credit Agreement (American Finance Trust, Inc), Credit Agreement (American Finance Trust, Inc), Credit Agreement (American Finance Trust, Inc)

AutoNDA by SimpleDocs

Borrower’s Failure to Notify. If the Borrower fails to give notice pursuant to Section 1.6(a) above of the continuation or conversion of any outstanding principal amount of a Borrowing of Eurodollar Loans before the last day of its then current Interest Period within the period required by Section 1.6(a) and such Borrowing is not prepaid in accordance with Section 1.8(a), such Borrowing shall automatically be continued as converted into a Borrowing of Eurodollar Loans with an Interest Period of one (1) monthBase Rate Loans. In the event the Borrower fails to give notice pursuant to Section 1.6(a) above of a Borrowing equal to the amount of a Reimbursement Obligation and has not notified the Administrative Agent by 2:00 p.m. 12:00 noon (Chicago time) on the day such Reimbursement Obligation becomes due that it intends to repay such Reimbursement Obligation through funds not borrowed under this Agreement, the Borrower shall be deemed to have requested a Borrowing of Base Rate Loans under the Revolving Credit (or, at the option of the Swing Line Swingline Lender, under the Swing LineSwingline) on such day in the amount of the Reimbursement Obligation then due, which Borrowing shall be applied to pay the Reimbursement Obligation then due.

Appears in 5 contracts

Samples: Credit Agreement (Whitestone REIT), Whitestone Credit Agreement (Pillarstone Capital Reit), Whitestone Credit Agreement (Whitestone REIT)

Borrower’s Failure to Notify. If the Borrower fails to give notice pursuant to Section 1.6(a) above of the continuation or conversion of any outstanding principal amount of a Borrowing of Eurodollar Loans before the last day of its then current Interest Period within the period required by Section 1.6(a) and such Borrowing is not prepaid in accordance with Section 1.8(a1.9(a), such Borrowing shall automatically be continued as converted into a Borrowing of Eurodollar Loans with an Interest Period of one (1) monthBase Rate Loans. In the event the Borrower fails to give notice pursuant to Section 1.6(a) above of a Borrowing equal to the amount of a Reimbursement Obligation and has not notified the Administrative Agent by 2:00 p.m. 12:00 noon (Chicago time) on the day such Reimbursement Obligation becomes due that it intends to repay such Reimbursement Obligation through funds not borrowed under this Agreement, the Borrower shall be deemed to have requested a Borrowing of Base Rate Loans under the Revolving Credit (or, at the option of the Swing Line Lender, under the Swing Line) on such day in the amount of the Reimbursement Obligation then due, which Borrowing shall be applied to pay the Reimbursement Obligation then due.

Appears in 4 contracts

Samples: Credit Agreement (Smart Balance, Inc.), Credit Agreement (DG FastChannel, Inc), Credit Agreement (DG FastChannel, Inc)

Borrower’s Failure to Notify. If the Borrower fails to give notice pursuant to Section 1.6(a2.6(a) above of the continuation or conversion of any outstanding principal amount of a Borrowing of Eurodollar Loans before the last day of its then current Interest Period within the period required by Section 1.6(a2.6(a) and such Borrowing is not prepaid in accordance with Section 1.8(a2.8(a), such Borrowing shall automatically be continued as converted into a Borrowing of Eurodollar Loans with an Interest Period of one (1) monthBase Rate Loans. In the event the Borrower fails to give notice pursuant to Section 1.6(a2.6(a) above of a Borrowing equal to the amount of a Reimbursement Obligation and has not notified the Administrative Agent by 2:00 p.m. 12:00 Noon (Chicago time) on the day such Reimbursement Obligation becomes due that it intends to repay such Reimbursement Obligation through funds not borrowed under this Agreement, the Borrower shall be deemed to have requested a Borrowing of Base Rate Loans under the Revolving Credit Facility (or, at the option of the Swing Line Swingline Lender, under the Swing LineSwingline) on such day in the amount of the Reimbursement Obligation then due, which Borrowing shall be applied to pay the Reimbursement Obligation then due.

Appears in 3 contracts

Samples: Credit Agreement (Willdan Group, Inc.), Credit Agreement (Willdan Group, Inc.), Credit Agreement (Willdan Group, Inc.)

Borrower’s Failure to Notify. If the Borrower fails to give notice pursuant to Section 1.6(a2.6(a) above of the continuation or conversion of any outstanding principal amount of a Borrowing of Eurodollar Loans before the last day of its then current Interest Period within the period required by Section 1.6(a2.6(a) and such Borrowing is not prepaid in accordance with Section 1.8(a)2.8, the Borrower shall be deemed to have elected that such Borrowing shall automatically be continued as a Borrowing of Eurodollar Loans with having an Interest Period of one (1) month’s duration. In the event the Borrower fails to give notice pursuant to Section 1.6(a2.6(a) above of a Borrowing equal to the amount of a Reimbursement Obligation and has not notified the Administrative Agent by 2:00 p.m. (Chicago time) 12:00 noon on the day such Reimbursement Obligation becomes due that it intends to repay such Reimbursement Obligation through funds not borrowed under this Agreement, the Borrower shall be deemed to have requested a Borrowing of Base Rate Loans under the Revolving Credit (or, at the option of the Swing Line Lender, under the Swing Line) on such day in the amount of the Reimbursement Obligation then due, which Borrowing shall be applied to pay the Reimbursement Obligation then due.

Appears in 3 contracts

Samples: Credit Agreement (Envestnet, Inc.), Credit Agreement (Envestnet, Inc.), Credit Agreement (Envestnet, Inc.)

Borrower’s Failure to Notify. If the Borrower fails to give notice pursuant to Section 1.6(a) above hereof of the continuation or conversion of any outstanding principal amount of a Borrowing of Eurodollar Loans before the last day of its then current Interest Period within the period required by Section 1.6(a) hereof and such Borrowing is not prepaid in accordance with Section 1.8(a)) hereof, such Borrowing shall automatically be continued as a Borrowing of Eurodollar Loans with an Interest Period of one (1) month. In the event the Borrower fails to give notice pursuant to Section 1.6(a) above hereof of a Borrowing equal to the amount of a Reimbursement Obligation and has not notified the Administrative Agent by 2:00 p.m. (Chicago time) on the day such Reimbursement Obligation becomes due that it intends to repay such Reimbursement Obligation through funds not borrowed under this Agreement, the Borrower shall be deemed to have requested a Borrowing of Base Rate Loans under the Revolving Credit (or, at the option of the Swing Line Lender, under the Swing Line) on such day in the amount of the Reimbursement Obligation then due, which Borrowing shall be applied to pay the Reimbursement Obligation then due.. ‑9‑

Appears in 2 contracts

Samples: Credit Agreement (Investors Real Estate Trust), Credit Agreement (Investors Real Estate Trust)

Borrower’s Failure to Notify. If the Borrower fails to give notice pursuant to Section 1.6(a2.6(a) above of the continuation or conversion of any outstanding principal amount of a Borrowing of Eurodollar Loans before the last day of its then current Interest Period within the period required by Section 1.6(a2.6(a) and such Borrowing is not prepaid in accordance with Section 1.8(a2.8(a), such Borrowing shall automatically be continued as converted into a Borrowing of Eurodollar Loans with an Interest Period of one (1) monthU.S. Prime Rate Loans. In the event the Borrower fails to give notice pursuant to Section 1.6(a2.6(a) above of a Borrowing equal to the amount of a Reimbursement Obligation and has not notified the Administrative Agent Bank by 2:00 p.m. 12:00 noon (Chicago time) on the day such Reimbursement Obligation becomes due that it intends to repay such Reimbursement Obligation through funds not borrowed under this Agreement, the Borrower shall be deemed to have requested a Borrowing of Base U.S. Prime Rate Loans under the Revolving Credit (or, at the option of the Swing Line Lender, under the Swing Line) Facility on such day in the amount of the Reimbursement Obligation then due, which Borrowing shall be applied to pay the Reimbursement Obligation then due.

Appears in 2 contracts

Samples: Credit Agreement (Pioneer Power Solutions, Inc.), Credit Agreement (Pioneer Power Solutions, Inc.)

Borrower’s Failure to Notify. If the Borrower fails to give notice pursuant to Section 1.6(a2.6(a) above of the continuation or conversion of any outstanding principal amount of a Borrowing of Eurodollar SOFR Loans before the last day of its then current Interest Period within the period required by Section 1.6(a2.6(a) and such Borrowing is not prepaid in accordance with Section 1.8(a)2.8, the Borrower shall be deemed to have elected that such Borrowing shall automatically be continued as a Borrowing of Eurodollar SOFR Loans with having an Interest Period of one (1) month’s duration. In the event the Borrower fails to give notice pursuant to Section 1.6(a2.6(a) above of a Borrowing equal to the amount of a Reimbursement Obligation and has not notified the Administrative Agent by 2:00 p.m. (Chicago time) 12:00 noon on the day such Reimbursement Obligation becomes due that it intends to repay such Reimbursement Obligation through funds not borrowed under this Agreement, the Borrower shall be deemed to have requested a Borrowing of Base Rate Loans under the Revolving Credit (or, at the option of the Swing Line Lender, under the Swing Line) on such day in the amount of the Reimbursement Obligation then due, which Borrowing shall be applied to pay the Reimbursement Obligation then due.

Appears in 1 contract

Samples: Credit Agreement (Envestnet, Inc.)

Borrower’s Failure to Notify. If the Borrower fails both Borrowers fail to give notice pursuant to Section 1.6(a2.5(a) above of the continuation or conversion of any outstanding principal amount of a Borrowing of Eurodollar Loans before the last day of its then current Interest Period within the period required by Section 1.6(a2.5(a) and such Borrowing is not prepaid in accordance with Section 1.8(a2.7(a), such Borrowing shall automatically be continued as converted into a Borrowing of Eurodollar Loans with an Interest Period of one (1) monthBase Rate Loans. In the event the Borrower fails both Borrowers fail to give notice pursuant to Section 1.6(a2.5(a) above of a Borrowing equal to the amount of a Reimbursement Obligation and has not notified the Administrative Agent by 2:00 p.m. 12:00 noon (Chicago time) on the day such Reimbursement Obligation becomes due that it intends to repay such Reimbursement Obligation through funds not borrowed under this Agreement, the Borrower Borrowers shall be deemed to have requested a Borrowing of Base Rate Loans under the Revolving Credit Facility (or, at the option of the Swing Line Swingline Lender, under the Swing LineSwingline) on such day in the amount of the Reimbursement Obligation then due, which Borrowing shall be applied to pay the Reimbursement Obligation then due.

Appears in 1 contract

Samples: Credit Agreement (Hub Group, Inc.)

Borrower’s Failure to Notify. If the Borrower fails to give notice pursuant to Section 1.6(a) above hereof of the continuation or conversion of any outstanding principal amount of a Borrowing of Eurodollar Loans before the last day of its then current Interest Period within the period required by Section 1.6(a) hereof and such Borrowing is not prepaid in accordance with Section 1.8(a)) hereof, such Borrowing shall automatically be continued as a Borrowing of Eurodollar Loans with an Interest Period of one (1) month. In the event the Borrower fails to give notice pursuant to Section 1.6(a) above hereof of a Borrowing equal to the amount of a Reimbursement Obligation and has not notified the Administrative Agent by 2:00 p.m. (Chicago time) on the day such Reimbursement Obligation becomes due that it intends to repay such Reimbursement Obligation through funds not borrowed under this Agreement, the Borrower shall be deemed to have requested a Borrowing of Base Rate Loans under the Revolving Credit (or, at the option of the Swing Line Lender, under the Swing Line) on such day in the amount of the Reimbursement Obligation then due, which Borrowing shall be applied to pay the Reimbursement Obligation then due.

Appears in 1 contract

Samples: Credit Agreement (Centerspace)

Borrower’s Failure to Notify. If the Borrower fails to give notice pursuant to Section 1.6(a) above hereof of the continuation or conversion of any outstanding principal amount of a Borrowing of Eurodollar Loans before the last day of its then current Interest Period within the period required by Section 1.6(a) hereof and such Borrowing is not prepaid in accordance with Section 1.8(a)) hereof, such Borrowing shall automatically be continued as a Borrowing of Eurodollar Loans with an Interest Period of one (1) month. In the event the Borrower fails to give notice pursuant to Section 1.6(a) above hereof of a Borrowing equal to the amount of a Reimbursement Obligation and has not notified the Administrative Agent by 2:00 p.m. (Chicago time) on the day such Reimbursement Obligation becomes due that it intends to repay such Reimbursement Obligation through funds not borrowed under this Agreement, the Borrower shall be deemed to have requested a Borrowing of Base Rate Loans under the Revolving Credit (or, at the option of the Swing Line Lender, under the Swing Line) on such day in the amount of the Reimbursement Obligation then due, which Borrowing shall be applied to pay the Reimbursement Obligation then due.

Appears in 1 contract

Samples: Credit Agreement (Investors Real Estate Trust)

AutoNDA by SimpleDocs

Borrower’s Failure to Notify. If the Borrower fails to give notice pursuant to Section 1.6(a2.5(a) above of the continuation or conversion of any outstanding principal amount of a Borrowing of Eurodollar Loans before the last day of its then current Interest Period within the period required by Section 1.6(a2.5(a) and such Borrowing is not prepaid in accordance with Section 1.8(a2.7(a), such Borrowing shall automatically be continued as a Borrowing the same type of Loan and, in the case of Eurodollar Loans with Loans, having an Interest Period of one (1) month. In the event the Borrower fails to give notice pursuant to Section 1.6(a2.5(a) above of a Borrowing equal to the amount of a Reimbursement Obligation and has not notified the Administrative Agent by 2:00 p.m. (Chicago time) 12:00 noon on the day such Reimbursement Obligation becomes due that it intends to repay such Reimbursement Obligation through funds not borrowed under this Agreement, the Borrower shall be deemed to have requested a Borrowing of Base Rate Loans under the Revolving Credit (or, at the option of the Swing Line Lender, under the Swing Line) on such day in the amount of the Reimbursement Obligation then due, which Borrowing shall be applied to pay the Reimbursement Obligation then due.

Appears in 1 contract

Samples: Credit Agreement (AssetMark Financial Holdings, Inc.)

Borrower’s Failure to Notify. If the Borrower fails to give notice pursuant to Section 1.6(a2.6(a) above of the continuation or conversion of any outstanding principal amount of a Borrowing of Eurodollar EurodollarSOFR Loans before the last day of its then current Interest Period within the period required by Section 1.6(a2.6(a) and such Borrowing is not prepaid in accordance with Section 1.8(a2.8(a), such Borrowing shall automatically be continued as a Borrowing of Eurodollar Loans EurodollarSOFR Loan with an Interest Period of one (1) month. In the event the Borrower fails to give notice pursuant to Section 1.6(a2.6(a) above of a Borrowing equal to the amount of a any Reimbursement Obligation and has not notified the Administrative Agent by 2:00 p.m. (Chicago time) 12:00 Noon on the day such Reimbursement Obligation becomes due that it intends to repay such Reimbursement Obligation through funds not borrowed under this Agreement, the Borrower shall be deemed to have requested a Borrowing of Base Rate Loans under the Revolving Credit (or, at the option of the Swing Line Lender, under the Swing Line) Facility on such day in the amount of the Reimbursement Obligation then due, which Borrowing shall be applied to pay the Reimbursement Obligation then due.

Appears in 1 contract

Samples: Credit Agreement (Postal Realty Trust, Inc.)

Borrower’s Failure to Notify. If the Borrower fails Borxxxxx xxils to give notice pursuant to Section 1.6(a2.6(a) above of the continuation or conversion of any outstanding principal amount of a Borrowing of Eurodollar Term SOFR Loans before the last day of its then current Interest Period within the period required by Section 1.6(a2.6(a) and such Borrowing is not prepaid in accordance with Section 1.8(a2.8(a), such Borrowing shall automatically be continued as converted into a Borrowing of Eurodollar Base Rate Loans. If the Borrower requests a conversion or continuation of Term SOFR Loans with but fails to specify an Interest Period, it will be deemed to have selected an Interest Period of one (1) month. In the event the Borrower fails to give notice pursuant to Section 1.6(a2.6(a) above of a Borrowing equal to the amount of a Reimbursement Obligation and has not notified the Administrative Agent by 2:00 p.m. 12:00 noon (Chicago Los Angeles time) on the day such Reimbursement Obligation becomes due that it intends to repay such Reimbursement Obligation through funds not borrowed under this Agreement, the Borrower shall be deemed to have requested a Borrowing of Base Rate Loans under the Revolving Credit (or, at the option of the Swing Line Lender, under the Swing Line) Facility on such day in the amount of the Reimbursement Obligation then due, which Borrowing shall be applied to pay the Reimbursement Obligation then due.

Appears in 1 contract

Samples: Credit Agreement (Performant Financial Corp)

Borrower’s Failure to Notify. If the Borrower fails to give notice pursuant to Section 1.6(a2.6(a) above of the continuation or conversion of any outstanding principal amount of a Borrowing of Eurodollar Loans before the last day of its then current Interest Period within the period required by Section 1.6(a2.6(a) and such Borrowing is not prepaid in accordance with Section 1.8(a2.9(a), such Borrowing shall automatically be continued as converted into a Borrowing of Eurodollar Loans with an Interest Period of one (1) monthBase Rate Loans. In the event the Borrower fails to give notice pursuant to Section 1.6(a2.6(a) above of a Borrowing equal to the amount of a Reimbursement Obligation and has not notified the Administrative Agent by 2:00 p.m. (Chicago time) 12:00 noon on the day such Reimbursement Obligation becomes due that it intends to repay such Reimbursement Obligation through funds not borrowed under this Agreement, the Borrower shall be deemed to have requested a Borrowing of Base Rate Loans under the Revolving Credit (or, at the option of the Swing Line Lender, under the Swing Line) on such day in the amount of the Reimbursement Obligation then due, which Borrowing shall be applied to pay the Reimbursement Obligation then due.. (d)

Appears in 1 contract

Samples: Credit Agreement (Sterling Construction Co Inc)

Borrower’s Failure to Notify. If the Borrower fails to give notice pursuant to Section 1.6(a2.5(a) above of the continuation or conversion of any outstanding principal amount of a Borrowing of Eurodollar SOFR Loans before the last day of its then current Interest Period within the period required by Section 1.6(a2.5(a) and such Borrowing is not prepaid in accordance with Section 1.8(a2.7(a), such Borrowing shall automatically be continued as a Borrowing the same type of Eurodollar Loans with Loan and, in the case of SOFR Loans, having an Interest Period of one (1) month. In the event the Borrower fails to give notice pursuant to Section 1.6(a2.5(a) above of a Borrowing equal to the amount of a Reimbursement Obligation and has not notified the Administrative Agent by 2:00 p.m. (Chicago time) 12:00 noon on the day such Reimbursement Obligation becomes due that it intends to repay such Reimbursement Obligation through funds not borrowed under this Agreement, the Borrower shall be deemed to have requested a Borrowing of Base Rate Loans under the Revolving Credit (or, at the option of the Swing Line Lender, under the Swing Line) on such day in the amount of the Reimbursement Obligation then due, which Borrowing shall be applied to pay the Reimbursement Obligation then due.

Appears in 1 contract

Samples: Credit Agreement (AssetMark Financial Holdings, Inc.)

Borrower’s Failure to Notify. If the Borrower fails to give notice pursuant to Section 1.6(a2.8(a) above of the continuation or conversion of any outstanding principal amount of a Borrowing of Eurodollar LIBOR Loans before the last day of its then current Interest Period within the period required by Section 1.6(a2.8(a) and such Borrowing is not prepaid in accordance with Section 1.8(a2.11(a), such Borrowing shall automatically be continued as converted into a Borrowing of Eurodollar Loans with an Interest Period of one (1) monthU.S. Base Rate Loans. In the event the Borrower fails to give notice pursuant to Section 1.6(a2.8(a) above of a Borrowing equal to the amount of a Reimbursement Obligation and has not notified the Administrative Agent Bank by 2:00 p.m. 12:00 noon (Chicago Montréal time) on the day such Reimbursement Obligation becomes due that it intends to repay such Reimbursement Obligation through funds not borrowed under this Agreement, the Borrower shall be deemed to have requested a Borrowing of U.S. Base Rate Loans under the Revolving Credit (or, at the option of the Swing Line Lender, under the Swing Line) Facility on such day in the amount of the Reimbursement Obligation then due, which Borrowing shall be applied to pay the Reimbursement Obligation then due.

Appears in 1 contract

Samples: Credit Agreement (Pioneer Power Solutions, Inc.)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!