Common use of Borrowing Certificates Clause in Contracts

Borrowing Certificates. To request a Facility A Advance or a Facility B Advance hereunder, Borrower Representative shall send to Administrative Agent a completed Borrowing Certificate at least three (3) Business Days prior to the requested Borrowing Date for LIBOR Loans and one (1) Business Day prior to the requested Borrowing Date for Base Rate Loans (or such shorter period for the First Borrowing Date as agreed to by Lenders). Each Borrowing Certificate shall specify therein (i) the requested Borrowing Date, (ii) the aggregate amount of such Advance, (iii) the amount thereof, if any, requested to be LIBOR Loans and (iv) the initial LIBOR Period or Periods for any such LIBOR Loans. The Loans shall be made as Base Rate Loans unless (subject to Section 2.18) the Borrowing Certificate specifies that all or a portion thereof shall be LIBOR Loans. All LIBOR Loans shall comply with Section 2.11(e). Each Borrowing Certificate shall be irrevocable and binding on Borrowers. In the case of any requested Advance which the related Borrowing Certificate specifies is to be comprised of LIBOR Loans, Borrowers shall, jointly and severally, indemnify each Lender against any loss, cost or expense incurred by such Lender as a result of any failure to fulfill on or before the date specified in such Borrowing Certificate for such requested Advance the applicable conditions set forth in Article 7, including any loss (including loss of anticipated profits), cost or expense incurred by reason of the liquidation or reemployment of deposits or other funds acquired by such Lender to fund any LIBOR Loan to be made by such Lender as part of such requested Advance when such LIBOR Loan, as a result of such failure, is not made on such date.

Appears in 1 contract

Samples: Loan and Security Agreement (Us Lec Corp)

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Borrowing Certificates. To request a Facility A Advance or a Facility B Advance hereunder, Borrower Representative shall send to Administrative Agent a completed Borrowing Certificate at least three (3) Business Days prior to the requested Borrowing Date for LIBOR Loans and one (1) Business Day prior to the requested Borrowing Date for Base Rate Loans (or such shorter period for the First Borrowing Date as agreed to by Lenders)Loans. Each Borrowing Certificate shall specify therein (i) the requested Borrowing Date, (ii) the aggregate amount of such Advance, (iii) the amount thereof, if any, requested to be LIBOR Loans and (iv) the initial LIBOR Period or Periods for any such LIBOR Loans. The Loans shall be made as Base Rate Loans unless (subject to Section 2.18) the Borrowing Certificate specifies that all or a portion thereof shall be LIBOR Loans. All LIBOR Loans shall comply with Section 2.11(e). Each Borrowing Certificate shall be irrevocable and binding on Borrowers. In the case of any requested Advance which the related Borrowing Certificate specifies is to be comprised of LIBOR Loans, Borrowers shall, jointly and severally, indemnify each Lender against any loss, cost or expense incurred by such Lender as a result of any failure to fulfill on or before the date specified in such Borrowing Certificate for such requested Advance the applicable conditions set forth in Article 7, including any loss (including loss of anticipated profits), cost or expense incurred by reason of the liquidation or reemployment of deposits or other funds acquired by such Lender to fund any LIBOR Loan to be made by such Lender as part of such requested Advance when such LIBOR Loan, as a result of such failure, is not made on such date.

Appears in 1 contract

Samples: Loan and Security Agreement (Us Lec Corp)

Borrowing Certificates. To request a Facility A Advance or a Facility B Advance hereunderan Advance, the Borrower Representative shall send to the Administrative Agent a completed Borrowing Certificate at least three (3) Business Days prior to the requested Borrowing Date for LIBOR Loans and one (1) Business Day prior to the requested Borrowing Date for Base Rate Loans (or such shorter period for the First Borrowing Date as agreed to by the Lenders). Each Borrowing Certificate shall specify therein (i) the requested Borrowing Date, (ii) the aggregate amount of such AdvanceAdvance and the purpose thereof, (iii) the amount thereof, if any, requested to be LIBOR Loans and (iv) the initial LIBOR Period or Periods for any such LIBOR Loans. The Loans Loan shall be made as Base Rate Loans unless (subject to Section 2.182.13) the Borrowing Certificate specifies that all or a portion thereof shall be LIBOR Loans. All LIBOR Loans shall comply with Section 2.11(e2.8(e). Each Borrowing Certificate shall be irrevocable and binding on Borrowersthe Borrower. In the case of any requested Advance which the related Borrowing Certificate specifies is to be comprised of LIBOR Loans, Borrowers shall, jointly and severally, the Borrower shall indemnify each Lender against any loss, cost or expense incurred by such Lender as a result of any failure to fulfill on or before the date specified for such requested Advance in such Borrowing Certificate for such requested Advance the applicable conditions set forth in Article 76, including any loss (including excluding loss of anticipated profitsmargin), cost or expense incurred by reason of the liquidation or reemployment of deposits or other funds acquired by such Lender to fund any LIBOR Loan to be made by such Lender as part of such requested Advance when such LIBOR Loan, as a result of such failure, is not made on such date.

Appears in 1 contract

Samples: Loan and Security Agreement (Eschelon Telecom Inc)

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Borrowing Certificates. To request a Facility A Advance or a Facility B Advance hereunderan Advance, the Borrower Representative shall send to the Administrative Agent a completed Borrowing Certificate at least three (3) Business Days prior to the requested Borrowing Date for LIBOR Loans and one (1) Business Day prior to the requested Borrowing Date for Base Rate Loans (or such shorter period for the First Borrowing Date as agreed to by the Lenders). Each Borrowing Certificate shall specify therein (i) the requested Borrowing Date, (ii) the aggregate amount of such Advance, (iii) the amount thereof, if any, requested to be LIBOR Loans and (iv) the initial LIBOR Period or Periods for any such LIBOR Loans. The Loans Loan shall be made as Base Rate Loans unless (subject to Section 2.182.13) the Borrowing Certificate specifies that all or a portion thereof shall be LIBOR Loans. All LIBOR Loans shall comply with Section 2.11(eSubsection 2.8(e). Each Borrowing Certificate shall be irrevocable and binding on Borrowersthe Borrower. In the case of any requested Advance which the related Borrowing Certificate specifies is to be comprised of LIBOR Loans, Borrowers shall, jointly and severally, the Borrower shall indemnify each Lender against any loss, cost or expense incurred by such Lender as a result of any failure to fulfill on or before the date specified in such Borrowing Certificate for such requested Advance the applicable conditions set forth in Article 7, including any loss (including loss of anticipated profits), cost or expense incurred by reason of the liquidation or reemployment of deposits or other funds acquired by such Lender to fund any LIBOR Loan to be made by such Lender as part of such requested Advance when such LIBOR Loan, as a result of such failure, is not made on such date.for

Appears in 1 contract

Samples: Loan and Security Agreement (Us Xchange LLC)

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