Borrowing and Renewal Procedures Clause Samples

Borrowing and Renewal Procedures. With respect to any proposed Revolving Loan, the Borrower shall deliver a Borrowing Notice to the Bank by 2:00 p.m. on the date of such proposed borrowing. Subject to the satisfaction of the conditions set forth in Sections 2.1 and 2.4, the Bank shall lend to Borrower the amount specified in such Borrowing Notice, provided, however, that each Revolving Loan shall be made only on a Business Day. In the event that any Borrowing Notice is given to the Bank by telephone, such notice must be confirmed by the Borrower via same day facsimile. All Revolving Loans shall be credited to an account of the Borrower maintained by the Bank.