Common use of Borrowing Mechanics for Revolving Loans Clause in Contracts

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount, Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount. (ii) Subject to Section 3.3(b), whenever Borrower desires that Lenders make Revolving Loans, Borrower shall deliver to Administrative Agent a fully executed and delivered Funding Notice no later than 1:00 p.m. (New York City time) at least three Business Days in advance of the proposed Credit Date in the case of a Eurodollar Rate Loan and at least one Business Day in advance of the proposed Credit Date in the case of a Revolving Loan that is a Base Rate Loan. (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day as Administrative Agent’s receipt of such Notice from Borrower. (iv) Each Lender shall make the amount of its Revolving Loan available to Administrative Agent not later than 12:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in Dollars, at the Principal Office designated by Administrative Agent. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Agent shall make the proceeds of such Revolving Loans available to Borrower on the applicable Credit Date by causing an amount of same day funds in Dollars, equal to the proceeds of all such Revolving Loans received by Administrative Agent from Lenders to be credited to the account of Borrower at the Principal Office designated by Administrative Agent or such other account as may be designated in writing to Administrative Agent by Borrower.

Appears in 13 contracts

Samples: Credit and Guaranty Agreement (Valeant Pharmaceuticals International, Inc.), Credit and Guaranty Agreement (Valeant Pharmaceuticals International, Inc.), Credit and Guaranty Agreement (Valeant Pharmaceuticals International, Inc.)

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Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d2.04(d), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 500,000 and integral multiples of $1,000,000 100,000 in excess of that amount, and Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 500,000 and integral multiples of $1,000,000 100,000 in excess of that amount. (ii) Subject to Section 3.3(b), whenever Whenever the Borrower desires that Lenders make Revolving Loans, the Borrower shall deliver to the Administrative Agent a fully executed and delivered Funding Borrowing Notice no later than 1:00 p.m. 10:00 a.m. (New York City time) at least three (3) Business Days in advance of the proposed Credit Date in the case of a Eurodollar Rate Loan Loan, and at least one Business Day in advance of the proposed Credit Date in the case of a Revolving Loan that is a Base Rate Loan. Except as otherwise provided herein, a Borrowing Notice for a Revolving Loan that is a Eurodollar Rate Loan shall be irrevocable on and after the related Interest Rate Determination Date, and the Borrower shall be bound to make a borrowing in accordance therewith. (iii) Notice of receipt of each Funding Borrowing Notice in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by the Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided the Administrative Agent shall have received such notice by 1:00 p.m. 10:00 a.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day as the Administrative Agent’s receipt of such Notice from the Borrower. (iv) Each Lender shall make the amount of its Revolving Loan available to the Administrative Agent not later than 12:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in Dollars, at the Principal Office designated by the Administrative Agent. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, the Administrative Agent shall make the proceeds of such Revolving Loans available to the Borrower on the applicable Credit Date by causing an amount of same day funds in Dollars, Dollars equal to the proceeds of all such Revolving Loans received by the Administrative Agent from Lenders to be credited to the account of the Borrower at the Principal Office designated by the Administrative Agent or such other account as may be designated in writing to the Administrative Agent by the Borrower.

Appears in 6 contracts

Samples: Credit and Guaranty Agreement (RadNet, Inc.), Credit and Guaranty Agreement (RadNet, Inc.), Credit Agreement (RadNet, Inc.)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 1,000,000 and integral multiples of $1,000,000 500,000 in excess of that amount, and Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 2,000,000 and integral multiples of $1,000,000 in excess of that amount. (ii) Subject to Section 3.3(b), whenever Borrower Whenever Company desires that Lenders make Revolving Loans, Borrower Company shall deliver to Administrative Agent a fully executed and delivered Funding Notice no later than 1:00 p.m. (New York City time) at least three Business Days in advance of the proposed Credit Date in the case of a Eurodollar Rate Loan Loan, and at least one Business Day in advance of the proposed Credit Date in the case of a Revolving Loan that is a Base Rate Loan. Except as otherwise provided herein, a Funding Notice for a Revolving Loan that is a Eurodollar Rate Loan shall be irrevocable on and after the related Interest Rate Determination Date, and Company shall be bound to make a borrowing in accordance therewith. (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Lender’s 's Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. (New York City time)) not later than 2:00 3:00 p.m. (New York City time) on the same day as Administrative Agent’s 's receipt of such Notice from BorrowerCompany. (iv) Each Lender shall make the amount of its Revolving Loan available to Administrative Agent not later than 12:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in Dollars, at the Principal Office designated by Administrative Agent's Principal Office. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Agent shall make the proceeds of such Revolving Loans available to Borrower Company on the applicable Credit Date by causing an amount of same day funds in Dollars, Dollars equal to the proceeds of all such Revolving Loans received by Administrative Agent from Lenders to be credited to the account of Borrower Company at the Administrative Agent's Principal Office designated by Administrative Agent or such other account as may be designated in writing to Administrative Agent by BorrowerCompany.

Appears in 3 contracts

Samples: Credit and Guaranty Agreement (Veterinary Centers of America Inc), Credit and Guaranty Agreement (Vca Antech Inc), Credit and Guaranty Agreement (Vca Antech Inc)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount, Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount100,000. (ii) Subject to Section 3.3(b), whenever Borrower Whenever Company desires that Lenders make Revolving Loans, Borrower Company shall deliver to Administrative Agent, the Paying Agent and the Custodian a fully executed and delivered Funding Notice no later than 11:00 a.m. (New York City time) at least two (2) Business Days in advance of the proposed Credit Date; provided, that x) the Company shall review such Funding Notice on the Business Day immediately preceding the proposed Credit Date and (y) if following such review it has determined that a Receivable would not qualify as an Eligible Receivable by virtue of clause (h) of the Eligibility Criteria not being satisfied then (1) such Receivable shall be deemed to be excluded from the Borrowing Base Certificate included in such Funding Notice (each, an “Original Borrowing Base Certificate”) (and any certification related thereto contained therein or in the Credit Documents) and (2) the Company shall deliver to Administrative Agent, the Custodian and the Paying Agent a revised Funding Notice no later than 1:00 p.m. (New York City time) at least three Business Days in advance of the proposed Credit Date in the case of a Eurodollar Rate Loan and at least one (1) Business Day in advance of the proposed Credit Date in and such revised Funding Notice (and the case corresponding Borrowing Base Certificate (each, a “Replacement Borrowing Base Certificate”)) shall be modified solely to make adjustments necessary to exclude any such Receivable that would not qualify as an Eligible Receivable by virtue of clause (h) of the Eligibility Criteria including any reductions due to any resulting Excess Concentration Amounts, if any. Each such Funding Notice shall be delivered with a Borrowing Base Certificate reflecting sufficient Revolving Loan that is Availability for the requested Revolving Loans and a Borrowing Base Rate LoanReport. (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day as Administrative Agent’s receipt of such Notice from Borrower. (iv) Each Lender shall make the amount of its Revolving Loan available to Administrative the Paying Agent not later than 12:00 1:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in Dollars, at and the Principal Office designated by Administrative Agent. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Paying Agent shall make remit such funds to the proceeds of such Revolving Loans available to Borrower on the applicable Credit Date Company not later than 3:00 p.m. (New York City time) by causing an amount wire transfer of same day funds in Dollars, equal to the proceeds of all such Revolving Loans received by Administrative Agent from Lenders to be credited Dollars to the account of Borrower at Company designated in the Principal Office designated by related Funding Notice. (iv) Company may borrow Revolving Loans pursuant to this Section 2.1, purchase Eligible Receivables pursuant to Section 2.11(c)(vii)(C) and/or repay Revolving Loans pursuant to Section 2.11(c)(vii)(B) no more than one (1) time per week in the aggregate, provided, that the Company may borrow Revolving Loans pursuant to this Section 2.1, purchase Eligible Receivables pursuant to Section 2.11(c)(vii)(C) and/or repay Revolving Loans pursuant to Section 2.11(c)(vii)(B) one (1) additional time per week with the consent of the Administrative Agent (such consent not to be unreasonably withheld, delayed or such other account as may be designated in writing to Administrative Agent by Borrowerconditioned).

Appears in 3 contracts

Samples: Credit Agreement (On Deck Capital, Inc.), Credit Agreement (On Deck Capital Inc), Credit Agreement (On Deck Capital Inc)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d2.04(d), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 1,000,000 and integral multiples of $1,000,000 in excess of that amount, Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 500,000 in excess of that amount. (ii) Subject to Section 3.3(b), whenever Borrower Whenever the Company desires that Lenders make Revolving Loans, Borrower the Company shall deliver to Administrative the Agent a fully executed and delivered Funding Loan Notice no later than 1:00 p.m. 10:00 a.m. (New York City time) at least three Business Days in advance of the proposed Credit Borrowing Date in the case of a Eurodollar Rate Loan Loan, and at least one Business Day in advance of no later than 10:00 a.m. (New York City time) on the proposed Credit Borrowing Date in the case of a Revolving Loan that is a Base Rate Loan; provided that, if such Borrowing Date is the Closing Date, such Loan Notice may be delivered within such period shorter than three Business Days as may be agreed by the Agent with respect to Eurodollar Rate Loans. Except as otherwise provided herein, a Loan Notice for a Revolving Loan that is a Eurodollar Rate Loan shall be irrevocable on and after the related Interest Rate Determination Date. (iii) Notice of receipt of each Funding Loan Notice in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative the Agent to each applicable Lender by telefacsimile facsimile or other electronic communication with reasonable promptness, but (provided Administrative that the Agent shall have received such notice by 1:00 p.m. 10:00 a.m. (New York City time)) not later than 2:00 3:00 p.m. (New York City time) on the same day as Administrative the Agent’s receipt of such Notice from Borrowerthe Company. (iv) Each Lender shall make the amount of its Revolving Loan available to Administrative the Agent not later than 12:00 p.m. (New York City time) on the applicable Credit Borrowing Date by wire transfer of same day funds in Dollars, at the Principal Office designated by Administrative Agent’s Office. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative the Agent shall make the proceeds of such Revolving Loans available to Borrower the Company on the applicable Credit Borrowing Date by causing an amount of same day funds in Dollars, Dollars equal to the proceeds of all such Revolving Loans received by Administrative the Agent from Lenders to be credited to the account of Borrower the Company at the Principal Agent’s Office designated by Administrative Agent or such other account as may be designated in writing to Administrative the Agent by Borrowerthe Company.

Appears in 3 contracts

Samples: Credit Agreement (CNO Financial Group, Inc.), Credit Agreement (CNO Financial Group, Inc.), Credit Agreement (CNO Financial Group, Inc.)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d), Class A Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 250,000, and integral multiples of $1,000,000 in excess of that amount, Class B Revolving Loans that are Eurodollar Rate Loans shall be made in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount50,000. (ii) Subject to Section 3.3(b2.1(h), whenever Borrower Company desires that Lenders make Revolving Loans, Borrower Company shall deliver to Administrative Agent, each Class A Managing Agent, each Class B Revolving Lender, the Custodian and the Paying Agent a fully executed and delivered Funding Notice no later than 11:00 a.m. (New York City time) at least two (2) Business Days in advance of the proposed Credit Date provided, that (x) the Company shall review such Funding Notice on the Business Day immediately preceding the proposed Credit Date and (y) if following such review it has determined that a Receivable would not qualify as an Eligible Receivable by virtue of clause (h) of the Eligibility Criteria not being satisfied then (1) such Receivable shall be deemed to be excluded from the Borrowing Base Certificate included in such Funding Notice (each, an “Original Borrowing Base Certificate”) (and any certification related thereto contained therein or in the Credit Documents) and (2) the Company shall deliver to Administrative Agent, each Class A Managing Agent, each Class B Revolving Lender, the Custodian and the Paying Agent a revised Funding Notice no later than 1:00 p.m. (New York City time) at least three Business Days in advance of the proposed Credit Date in the case of a Eurodollar Rate Loan and at least one (1) Business Day in advance of the proposed Credit Date in and such revised Funding Notice (and the case corresponding Borrowing Base Certificate (each, a “Replacement Borrowing Base Certificate”)) shall be modified solely to make adjustments necessary to exclude any such Receivable that would not qualify as an Eligible Receivable by virtue of clause (h) of the Eligibility Criteria including any reductions due to any resulting Excess Concentration Amounts, if any. Each Funding Notice shall be delivered with a Borrowing Base Certificate reflecting sufficient Class A Revolving Loan that is Availability and Class B Revolving Availability, as applicable, for the requested Revolving Loans and a Borrowing Base Rate LoanReport. (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day as Administrative Agent’s receipt of such Notice from Borrower. (iv) Each Lender not in a Class A Lender Group shall make the amount of its Revolving Loan available to Administrative the Paying Agent, and each Lender in a Class A Lender Group shall make the amount of its Class A Revolving Loan available to its applicable Class A Managing Agent who shall make such Revolving Loan available to the Paying Agent, in each case, not later than 12:00 1:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in Dollars, at and the Principal Office designated by Administrative Agent. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Paying Agent shall make remit such funds to the proceeds of such Revolving Loans available to Borrower on the applicable Credit Date Company not later than 3:00 p.m. (New York City time) by causing an amount wire transfer of same day funds in Dollars, equal to the proceeds of all such Revolving Loans received by Administrative Agent from Lenders to be credited Dollars to the account of Borrower at the Principal Office designated by Administrative Agent or such other account as may be Company designated in writing the related Funding Notice. (iv) Company may borrow Class A Revolving Loans pursuant to Administrative Agent by Borrowerthis Section 2.1, purchase Eligible Receivables pursuant to Section 2.11(c)(vii)(C) and/or repay Revolving Loans pursuant to Section 2.11(c)(vii)(B) no more than three times a week in the aggregate. Company may borrow Class B Revolving Loans pursuant to this Section 2.1 no more than once a week (which day shall also be a day on which Company is borrowing Class A Revolving Loans pursuant to this Section 2.1, purchasing Eligible Receivables pursuant to Section 2.11(c)(vii)(C), and/or repaying Revolving Loans pursuant to Section 2.11(c)(vii)(B) or, if it is not such a day, it shall count as such a day solely for purposes of the weekly limit set forth in the immediately preceding sentence).

Appears in 3 contracts

Samples: Credit Agreement (On Deck Capital Inc), Credit Agreement (On Deck Capital Inc), Credit Agreement (On Deck Capital Inc)

Borrowing Mechanics for Revolving Loans. (i) Except Subject to Section 4.02(c) in the case of Borrowings of Revolving Loans, each Borrowing of Revolving Loans shall be made upon the Borrower’s irrevocable notice to the Administrative Agent, which may only be given in writing. Each such notice must be received by the Administrative Agent not later than (A) 1:00 p.m. three Business Days prior to the requested date of any Borrowing of SOFR Loans, and (B) 12:00 noon on the requested date of any Borrowing of Base Rate Loans. Each notice by the Borrower pursuant to this Section 2.4(d)2.02(b) must be delivered to the Administrative Agent in the form of a Committed Loan Notice, Revolving appropriately completed and signed by a Responsible Officer of the Borrower. Each Borrowing of SOFR Loans that are shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof in the case of SOFR Loans. Each Borrowing of Base Rate Loans shall be made in an aggregate minimum a principal amount of $5,000,000 and integral multiples 500,000 or a whole multiple of $1,000,000 100,000 in excess thereof. More than one Borrowing may be incurred on any date, provided that at no time shall there be outstanding more than ten (10) SOFR Borrowings under this Agreement. Each Committed Loan Notice shall specify (1) the requested date of that amountthe Borrowing (which shall be a Business Day), (2) the principal amount of Revolving Loans that are Eurodollar Rate to be borrowed, (3) the Type of Revolving Loans to be borrowed and (4) if applicable, the duration of the Interest Period with respect thereto. If the Borrower fails to specify a Type of Revolving Loan in a Committed Loan Notice, then in the case of Revolving Loans, the applicable Revolving Loans shall be made as Base Rate Loans. If the Borrower requests a Borrowing of SOFR Loans in any such Committed Loan Notice, but fails to specify an aggregate minimum amount Interest Period for such SOFR Loans, the Borrower will be deemed to have specified an Interest Period of $5,000,000 and integral multiples of $1,000,000 in excess of that amountone month. (ii) Subject to Section 3.3(b)Following receipt of a Committed Loan Notice, whenever Borrower desires that Lenders make the Administrative Agent shall promptly notify each Lender of the amount of its Pro Rata Share of the applicable Revolving Loans, Borrower shall deliver to Administrative Agent a fully executed and delivered Funding Notice no later than 1:00 p.m. (New York City time) at least three Business Days in advance of the proposed Credit Date in . In the case of a Eurodollar Rate Loan and at least one Business Day in advance of the proposed Credit Date in the case of a Revolving Loan that is a Base Rate Loan. (iii) Notice of receipt of each Funding Notice in respect of Revolving LoansBorrowing, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day as Administrative Agent’s receipt of such Notice from Borrower. (iv) Each Appropriate Lender shall make the amount of its Revolving Loan available to the Administrative Agent in Same Day Funds at the Administrative Agent’s Office not later than 12:00 p.m. (New York City time) 1:00 p.m., on the Business Day specified in the applicable Credit Date by wire transfer of same day funds in Dollars, at the Principal Office designated by Administrative AgentCommitted Loan Notice. Except as provided herein, upon Upon satisfaction or waiver of the applicable conditions precedent specified hereinset forth in Section 4.02 (or if such Borrowing is on the Closing Date, Section 4.01), the Administrative Agent shall make all funds so received available to the Borrower in like funds as received by the Administrative Agent either by (A) crediting the account of the Borrower on the books of the Administrative Agent with the amount of such funds or (B) wire transfer of such funds, in each case in accordance with instructions provided to (and reasonably acceptable to) the Administrative Agent by the Borrower; provided however, that if, on the date the Committed Loan Notice with respect to such Borrowing is given by the Borrower, there are Reimbursement Obligations outstanding, then the proceeds of such Borrowing shall be applied, first, to the payment in full of any such Reimbursement Obligations and second, to the Borrower as provided above. (iii) The failure of any Lender to make the Revolving Loans available Loan to Borrower be made by it as part of any Borrowing shall not relieve any other Lender of its obligation, if any, hereunder to make its Revolving Loan on the applicable Credit Date by causing an amount date of same day funds in Dollarssuch Borrowing, equal but no Lender shall be responsible for the failure of any other Lender to make the proceeds of all such Revolving Loans received by Administrative Agent from Lenders Loan to be credited to the account of Borrower at the Principal Office designated made by Administrative Agent or such other account as may be designated in writing to Administrative Agent by BorrowerLender on the date of any Borrowing.

Appears in 3 contracts

Samples: Credit Agreement (Allegro Microsystems, Inc.), Credit Agreement (Allegro Microsystems, Inc.), Credit Agreement (Allegro Microsystems, Inc.)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 1,000,000 and integral multiples of $1,000,000 500,000 in excess of that amount, and Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 1,000,000 and integral multiples of $1,000,000 500,000 in excess of that amount. (ii) Subject to Section 3.3(b), whenever Whenever a Borrower desires that Lenders make Revolving Loans, such Borrower shall deliver give notice to Administrative Agent a fully executed and delivered Funding Notice Agent, which may be given by telephone, no later than 1:00 12:00 p.m. (New York City time) at least three Business Days in advance of the proposed Credit Date in the case of a Eurodollar Rate Loan Loan, and at least one Business Day in advance of the proposed Credit Date in the case of a Revolving Loan that is a Base Rate Loan. Except as otherwise provided herein, a notice for a Revolving Loan that is a Eurodollar Rate Loan shall be irrevocable on and after the related Interest Rate Determination Date, and the relevant Borrower shall be bound to make a borrowing in accordance therewith. Each telephonic notice by a Borrower pursuant to this Section 2.2(b) must be confirmed promptly by delivery to Administrative Agent of a fully executed Funding Notice. Neither Administrative Agent nor any Lender shall incur any liability to any Borrower in acting upon any telephonic notice referred to above that Administrative Agent believes in good faith to have been given by a Responsible Officer or other person authorized to borrow on behalf of such Borrower or for otherwise acting in good faith under this Section 2.2(b), and upon funding of Loans by Lenders in accordance with this Agreement pursuant to any such telephonic notice a Borrower shall have effected Loans hereunder. (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day as Administrative Agent’s receipt of such Notice from Borrower. (iv) Each Lender shall make the amount of its Revolving Loan available to Administrative Agent not later than 12:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in Dollars, at the Principal Office designated by Administrative Agent. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Agent shall make the proceeds of such Revolving Loans available to the relevant Borrower on the applicable Credit Date by causing an amount of same day funds in Dollars, Dollars equal to the proceeds of all such Revolving Loans received by Administrative Agent from Lenders to be credited to the account of such Borrower at the Principal Office designated by Administrative Agent or such other account as may be designated in writing to Administrative Agent by such Borrower.

Appears in 3 contracts

Samples: Credit and Guaranty Agreement (AID Restaurant, Inc.), Credit and Guaranty Agreement (Education Management LLC), Credit and Guaranty Agreement (Education Management LLC)

Borrowing Mechanics for Revolving Loans. (ia) Except pursuant to Section 2.4(d), Each Borrowing of Revolving Loans that are Base Rate Loans shall be made upon the Borrower’s irrevocable notice to the Administrative Agent, which may only be given in an aggregate minimum amount writing (each request for a Borrowing of $5,000,000 a Swing Line Loan shall be made in accordance with Section 2.03). Subject to Section 4.01(1)(a), each such notice must be received by the Administrative Agent not later than 12:00 noon (New York City time) (i) three (3) Business Days prior to the requested date of any Borrowing of Eurodollar Rate Loans, and integral multiples (ii) one (1) Business Day before the requested date of $1,000,000 any Borrowing of Base Rate Loans. Each notice by the Borrower pursuant to this Section 2.02(2)(a) must be delivered to the Administrative Agent in excess the form of that amounta Committed Loan Notice, Revolving Loans that are appropriately completed and signed by a Responsible Officer of the Borrower. Each Borrowing of Eurodollar Rate Loans shall be in an aggregate minimum a principal amount of $5,000,000 and integral multiples 1,000,000 or a whole multiple of $1,000,000 250,000 in excess thereof. Each Borrowing of Base Rate Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof. Each Committed Loan Notice shall specify (i) that amount.the Borrower is requesting a Borrowing of Revolving Loans, (ii) Subject to Section 3.3(b), whenever Borrower desires that Lenders make Revolving Loans, Borrower shall deliver to Administrative Agent a fully executed and delivered Funding Notice no later than 1:00 p.m. (New York City time) at least three Business Days in advance the requested date of the proposed Credit Date in Borrowing (which shall be a Business Day), (iii) the case principal amount of a Eurodollar Rate Loan and at least one Business Day in advance Revolving Loans to be borrowed, (iv) the Type of Revolving Loans to be borrowed, and (v) if applicable, the duration of the proposed Credit Date in the case of a Revolving Interest Period with respect thereto. Each Swing Line Loan that is shall be a Base Rate Loan. If the Borrower fails to specify a Type of Revolving Loan in a Committed Loan Notice, then the applicable Revolving Loans shall be made as Base Rate Loans. If the Borrower requests a Borrowing of Eurodollar Rate Loans in any such Committed Loan Notice, but fails to specify an Interest Period, for such Eurodollar Rate Loans, the Borrower will be deemed to have specified an Interest Period of one (1) month. (iiib) Notice of Following receipt of a Committed Loan Notice, the Administrative Agent shall promptly notify each Funding Notice in respect Lender of Revolving Loans, together with the amount of each Lender’s its Pro Rata Share thereof, if any, together with of the applicable interest rateRevolving Loans. In the case of each Borrowing, shall be provided by Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day as Administrative Agent’s receipt of such Notice from Borrower. (iv) Each Appropriate Lender shall make the amount of its Revolving Loan available to the Administrative Agent in Same Day Funds at the Administrative Agent’s Office not later than 12:00 1:00 p.m. (New York City time) ), on the Business Day specified in the applicable Credit Date by wire transfer of same day funds in Dollars, at the Principal Office designated by Administrative AgentCommitted Loan Notice. Except as provided herein, upon Upon satisfaction or waiver of the applicable conditions precedent specified hereinset forth in Section 4.02 (and, if such Borrowing is on the Closing Date, Section 4.01), the Administrative Agent shall make the proceeds of such Revolving Loans all funds so received available to the Borrower in like funds as received by the Administrative Agent either by (i) crediting the account of the Borrower on the applicable Credit Date by causing an books of the Administrative Agent with the amount of same day such funds or (ii) wire transfer of such funds, in Dollars, equal each case in accordance with instructions provided to (and reasonably acceptable to) the proceeds of all such Revolving Loans received by Administrative Agent from Lenders to be credited to the account of Borrower at the Principal Office designated by Administrative Agent or such other account as may be designated in writing to Administrative Agent by the Borrower. (c) The failure of any Lender to make the Revolving Loan to be made by it as part of any Borrowing shall not relieve any other Lender of its obligation, if any, hereunder to make its Revolving Loan on the date of such Borrowing, but no Lender shall be responsible for the failure of any other Lender to make the Revolving Loan to be made by such other Lender on the date of any Borrowing.

Appears in 3 contracts

Samples: Credit Agreement (Impax Laboratories Inc), Credit Agreement (Press Ganey Holdings, Inc.), Credit Agreement (Impax Laboratories Inc)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d2.3(d), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 1,000,000 and integral multiples of $1,000,000 in excess of that amount, and Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 3,000,000 and integral multiples of $1,000,000 in excess of that amount. (ii) Subject to Section 3.3(b), whenever Whenever Borrower desires that Lenders make Revolving Loans, Borrower shall deliver to Administrative Agent a fully executed and delivered Funding Notice no later than 1:00 p.m. 10:00 a.m. (New York City time) at least three Business Days in advance of the proposed Credit Date in the case of a Eurodollar Rate Loan and at least one Business Day in advance of the proposed Credit Date Loan, and, in the case of a Revolving Loan that is a Base Rate Loan, a Funding Notice or irrevocable telephonic notice confirmed promptly in writing through a Funding Notice (which Funding Notice or telephonic notice must be received by the Administrative Agent not later than 11:00 a.m., New York City time, on the proposed Credit Date). Except as otherwise provided herein, a Funding Notice for a Revolving Loan that is a Eurodollar Rate Loan shall be irrevocable on and after the related Interest Rate Determination Date, and Borrower shall be bound to make a borrowing in accordance therewith. (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Revolving Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Revolving Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. (New York City time)) not later than 2:00 p.m. (New York City time) promptness on the same day as Administrative Agent’s receipt of such Notice from Borrower. (iv) Each Revolving Lender shall make the amount of its Revolving Loan available to Administrative Agent not later than 12:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in Dollars, at the Principal Office designated by Administrative Agent’s Principal Office. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Agent shall make the proceeds of such Revolving Loans available to Borrower on the applicable Credit Date by causing an amount of same day funds in Dollars, Dollars equal to the proceeds of all such Revolving Loans received by Administrative Agent from Lenders to be credited to the account of Borrower at the Principal Office designated by Administrative Agent or such other account as may be designated in writing to Administrative Agent by BorrowerBorrower in the applicable Funding Notice.

Appears in 3 contracts

Samples: Credit Agreement (Regal Entertainment Group), Credit Agreement (Regal Entertainment Group), Credit Agreement (Regal Entertainment Group)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d), Revolving Loans that are Base Rate Loans (other than Revolving Loans made pursuant to Section 2.4(d)), shall be made in an aggregate minimum amount of $5,000,000 1,000,000 and integral multiples of $1,000,000 500,000 in excess of that amount, and Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 3,000,000 and integral multiples of $1,000,000 500,000 in excess of that amount. Notwithstanding the foregoing, if Swing Line Lender resigns and no replacement Swing Line Lender is appointed within thirty (30) days after such resignation, Borrowers may request Revolving Loans that are Base Rate Loans on one Business Day’s notice (“Next Day Revolving Loans”) in an aggregate minimum amount of $250,000 and integral multiples of $50,000, but in no event shall such Next Day Revolving Loans, in the aggregate, exceed the Swing Line Sublimit. (ii) Subject to Section 3.3(b3.2(b), whenever Borrower desires Borrowers desire that Lenders make Revolving Loans, Borrower Borrowers shall deliver to Administrative Agent a fully executed and delivered Funding Notice no later than 1:00 p.m. 11:00 a.m. (New York City time) at least three Business Days in advance of the proposed Credit Date in the case of a Eurodollar Rate Loan Loan, and at least one Business Day in advance of the proposed Credit Date in the case of a Revolving Loan that is a Base Rate Loan. Notwithstanding the foregoing, if Swing Line Lender resigns and no replacement Swing Line Lender is appointed within thirty (30) days after such resignation, Borrowers may request Next Day Revolving Loans by delivering to Administrative Agent a fully executed and delivered Funding Notice no later than 5:00 p.m. (New York City time) one Business Day in advance of the proposed Credit Date. Except as otherwise provided herein, a Funding Notice for a Revolving Loan that is a Eurodollar Rate Loan shall be irrevocable on and after the related Interest Rate Determination Date, and Borrowers shall be bound to make a borrowing in accordance therewith. (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Lender by telefacsimile facsimile or electronic mail with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 11:00 a.m. (New York City time) (or 5:00 p.m. (New York City time) in the case of Next Day Revolving Loans)) not later than 2:00 3:00 p.m. (New York City time) (or 6:00 p.m. (New York City time) in the case of Next Day Revolving Loans) on the same day as Administrative Agent’s receipt of such Notice from BorrowerBorrowers. (iv) Each Lender shall make the amount of its Revolving Loan available to Administrative Agent not later than 12:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in Dollars, at the Principal Office designated by of Administrative Agent. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Agent shall make the proceeds of such Revolving Loans available to Borrower Borrowers on the applicable Credit Date by causing an amount of same day funds in Dollars, Dollars equal to the proceeds of all such Revolving Loans received by Administrative Agent from Lenders to be credited to the account of Borrower Borrowers at the Principal Office designated by Administrative Agent or such other account as may be designated in writing to Administrative Agent by BorrowerBorrowers.

Appears in 3 contracts

Samples: Credit and Guaranty Agreement (General Growth Properties, Inc.), Credit and Guaranty Agreement (General Growth Properties, Inc.), Credit and Guaranty Agreement (New GGP, Inc.)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d2.3(d), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 2,000,000 and integral multiples of $1,000,000 500,000 in excess of that amount, and Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 2,000,000 and integral multiples of $1,000,000 500,000 in excess of that amount. (ii) Subject to Section 3.3(b), whenever Whenever Borrower Representative desires that Lenders make Revolving Loans, Borrower Representative shall deliver to Administrative Agent a fully executed and delivered Funding Notice no later than 1:00 p.m. 10:00 a.m. (New York City time) at least three (3) Business Days in advance of the proposed Credit Date in the case of a Eurodollar Rate Loan Loan, and at least one (1) Business Day in advance of the proposed Credit Date in the case of a Revolving Loan that is a Base Rate Loan. Except as otherwise provided herein, a Funding Notice for a Revolving Loan that is a Eurodollar Rate Loan shall be irrevocable, and Company shall be bound to make a borrowing in accordance therewith. (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rateType of Loan, shall be provided by Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day as Administrative Agent’s receipt of such Notice from Borrower. (iv) Each Lender shall make the amount of its Revolving Loan available to Administrative Agent not later than 12:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in Dollars, at the Principal Office designated by Administrative Agent’s Principal Office. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Agent shall make the proceeds of such Revolving Loans available to Borrower Representative on the applicable Credit Date by causing an amount of same day funds in Dollars, Dollars equal to the proceeds of all such Revolving Loans received by Administrative Agent from Lenders to be credited to the account of Borrower at the Principal Office designated by Administrative Agent or such other account as may be designated in writing to Administrative Agent by Borrowersuch Funding Notice.

Appears in 3 contracts

Samples: Credit Agreement (Douglas Dynamics, Inc), Credit Agreement (Douglas Dynamics, Inc), Credit Agreement (Douglas Dynamics, Inc)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d), Each Revolving Loans that are Base Rate Loans Loan shall be made in an aggregate minimum amount as part of $5,000,000 and integral multiples a Borrowing consisting of $1,000,000 in excess of that amount, Revolving Loans that are of the same Type made by the Revolving Lenders proportionately to their applicable Pro Rata Shares. At the commencement of each Interest Period for any Eurodollar Rate Loans Revolving Borrowing, such Borrowing shall be in an aggregate minimum amount of $5,000,000 and 1,000,000 or an integral multiples multiple of $1,000,000 500,000 in excess of such amount; provided that a Eurodollar Rate Revolving Borrowing that results from a continuation of an outstanding Eurodollar Rate Revolving Borrowing may be in an aggregate amount that is equal to the amount of such outstanding Borrowing. At the time each Base Rate Revolving Borrowing is made, such Borrowing shall be in an aggregate amount of $500,000 or an integral multiple of $100,000 in excess of such amount; provided that such Borrowing may be in an aggregate amount that is equal to the entire unused balance of the Total Revolving Commitments or that is required to finance the reimbursement of a drawing under a Letter of Credit as contemplated by Section 2.3(d). (ii) Subject to Section 3.3(b)To request a Revolving Borrowing, whenever Borrower desires that Lenders make Revolving Loans, the Borrower shall deliver to the Administrative Agent a fully completed and executed and delivered Funding Notice no (A) in the case of a Eurodollar Rate Revolving Borrowing, not later than 1:00 p.m. (New York City time) at least three Business Days in advance of the proposed Credit Date (which shall be a Business Day) and (B) in the case of a Eurodollar Rate Loan and at least one Business Day in advance of the proposed Credit Date in the case of a Revolving Loan that is a Base Rate Loan. (iii) Notice of receipt of each Funding Notice in respect of Revolving LoansBorrowing, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by not later than 1:00 p.m. (New York City time) on the proposed Credit Date (which shall be a Business Day). Promptly upon receipt by the Administrative Agent of a Funding Notice in accordance with this paragraph, the Administrative Agent shall notify each Revolving Lender of the details thereof and of the amount of such Lender’s Revolving Loan to be made as part of the requested Revolving Borrowing. Following delivery of a Funding Notice or a telephonic notice for a Eurodollar Rate Revolving Borrowing, any failure to make such Borrowing shall be subject to Section 2.17(c). (iii) Each Lender shall make the principal amount of the Revolving Loan required to be made by it hereunder on any Credit Date available to the Administrative Agent not later than 2:00 p.m. (New York City time) on (or, in the same day as Administrative Agent’s receipt case of such Notice from Borrower. (iv) Each Lender shall make the amount of its a Base Rate Revolving Loan available to Administrative Agent Loan, not later than 12:00 3:00 p.m. (New York City time)) on the applicable such Credit Date by wire transfer of same day funds in Dollars, at the Principal Office designated by Administrative Agent. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Agent shall make the proceeds of such Revolving Loans available to Borrower on the applicable Credit Date by causing an amount of same day funds in Dollars, equal to the proceeds of all such Revolving Loans received by Administrative Agent from Lenders to be credited Dollars to the account of Borrower at the Principal Office Administrative Agent most recently designated by it for such purpose by notice to the Lenders. The Administrative Agent or will make each such other Revolving Loan available to the Borrower by promptly remitting the amounts so received, in like funds, to the account specified by the Borrower in the applicable Funding Notice (or, in the case of a Base Rate Revolving Borrowing specified by the Borrower in the applicable Funding Notice as may be designated in writing made to Administrative Agent finance reimbursement of a drawing under a Letter of Credit as contemplated by BorrowerSection 2.3(d), to the applicable Issuing Bank).

Appears in 3 contracts

Samples: Credit and Guaranty Agreement (Entegris Inc), Credit and Guaranty Agreement (Entegris Inc), Credit and Guaranty Agreement (Entegris Inc)

Borrowing Mechanics for Revolving Loans. (ia) Except pursuant to Section 2.4(d2.2.2(c), all Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 1,000,000 and integral multiples of $1,000,000 500,000 in excess of that amountamount or, Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum if less, the amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amountthe unused Aggregate Revolving Commitment. (iib) Subject to Section 3.3(b), whenever Borrower desires Whenever the Borrowers desire that the Lenders make a Revolving LoansLoan, Borrower the Borrowers shall deliver to the Administrative Agent a fully executed and delivered Funding Notice no later than 1:00 (x) 12:00 p.m. (New York City time) at least three (3) U.S. Government Securities Business Days in advance of the proposed Credit Date in the case of a Eurodollar Term SOFR Rate Loan and at least one Business Day in advance of (y) 9:00 a.m. on the proposed Credit Date in the case of a Revolving Loan that is a Base Rate Loan. Except as otherwise provided herein, any Funding Notice for any Loans that are Term SOFR Rate Loans shall be irrevocable on and after the related Interest Rate Determination Date, and the Borrowers shall be bound to make a borrowing in accordance therewith. (iiic) Notice of receipt of each Funding Notice in respect of each Revolving LoansLoan, together with the amount of each Lender’s Pro Rata Share Revolving Commitment Percentage thereof, if any, together with the applicable interest rate, shall be provided by the Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day as Administrative Agent’s receipt of such Notice from Borrower. (ivd) Each Lender shall make its Revolving Commitment Percentage of the amount of its requested Revolving Loan available to the Administrative Agent not later than (x) 12:00 p.m. (New York City time) on the applicable Credit Date in the case of a same day Borrowing of Base Rate Loans and (y) in all other cases, 11:00 a.m. on the applicable Credit Date, in each case, by wire transfer of same day funds in Dollars, at the Principal Office designated by Administrative Agent’s Principal Office. Except as provided herein, upon satisfaction or waiver of the applicable conditions precedent specified herein, the Administrative Agent shall make the proceeds of such Revolving Loans Loan available to Borrower the Borrowers on the applicable Credit Date by causing an amount of same day funds in Dollars, Dollars equal to the proceeds of all such Revolving Loans aggregate amount received by the Administrative Agent from the Lenders in connection with such Revolving Loan to be credited to the account of Borrower the Borrowers at the Administrative Agent’s Principal Office designated by Administrative Agent or such other account as may be designated in writing to the Administrative Agent by Borrowerthe Borrowers.

Appears in 2 contracts

Samples: Credit Agreement (Protective Life Insurance Co), Credit Agreement (Protective Life Insurance Co)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d), Each Revolving Loans that are Base Rate Loans Loan shall be made in an aggregate minimum amount as part of $5,000,000 and integral multiples a Borrowing consisting of $1,000,000 in excess of that amount, Revolving Loans that are of the same Type made by the Revolving Lenders proportionately to their applicable Pro Rata Shares. At the commencement of each Interest Period for any Eurodollar Rate Loans Revolving Borrowing, such Borrowing shall be in an aggregate minimum amount of $US$5,000,000 and integral multiples of $US$1,000,000 in excess of such amount; provided that a Eurodollar Rate Revolving Borrowing that results from a continuation of an outstanding Eurodollar Rate Revolving Borrowing may be in an aggregate amount that is equal to such outstanding Borrowing. At the time each Base Rate Revolving Borrowing is made, such Borrowing shall be in an aggregate minimum amount of US$5,000,000 and integral multiples of US$1,000,000 in excess of such amount; provided that such Borrowing may be in an aggregate amount that is equal to the entire unused balance of the Total Revolving Commitments or that is required to finance the reimbursement of a drawing under a Letter of Credit as contemplated by Section 2.3(d). (ii) Subject to Section 3.3(b)To request a Revolving Borrowing, whenever Borrower desires that Lenders make Revolving Loansthe Company, Borrower on behalf of the applicable Borrower, shall deliver to the Administrative Agent a fully completed and executed and delivered Funding Notice no (A) in the case of a Eurodollar Rate Borrowing, not later than 1:00 12:00 p.m. (New York City time) at least three Business Days in advance of the proposed Credit Date and (B) in the case of a Eurodollar Base Rate Loan and Borrowing, not later than 12:00 p.m. (New York City time) at least one Business Day in advance of the proposed Credit Date Date. In lieu of delivering a Funding Notice, the Company, on behalf of the applicable Borrower, may give, not later than the applicable time set forth above, the Administrative Agent telephonic notice of any proposed Revolving Borrowing; provided that such telephonic notice shall be promptly confirmed in writing by delivery to the case Administrative Agent of a fully completed and executed Funding Notice. In the event of any discrepancy between the telephonic notice and the Funding Notice, the Funding Notice shall govern and control. Promptly upon receipt by the Administrative Agent of a Funding Notice in accordance with this paragraph, the Administrative Agent shall notify each Revolving Lender of the details thereof and of the amount of such Lender’s Revolving Loan that is to be made as part of the requested Revolving Borrowing. Except as otherwise provided herein, a Base Funding Notice for a Eurodollar Rate LoanRevolving Borrowing shall be irrevocable on and after the related Interest Rate Determination Date, and the applicable Borrower shall be bound to make a Borrowing in accordance therewith; any failure to make such Borrowing shall be subject to Section 2.17(c). (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day as Administrative Agent’s receipt of such Notice from Borrower. (iv) Each Lender shall make the principal amount of its Revolving Loan required to be made by it hereunder on any Credit Date available to the Administrative Agent not later than 12:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in Dollars, at the Principal Office designated by Administrative Agent. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Agent shall make the proceeds of such Revolving Loans available to Borrower on the applicable Credit Date by causing an amount of same day funds in Dollars, equal to the proceeds of all such Revolving Loans received by Administrative Agent from Lenders to be credited US Dollars to the account of Borrower at the Principal Office Administrative Agent most recently designated by it for such purpose by notice to the Lenders. The Administrative Agent or will make each such other Revolving Loan available to the applicable Borrower by promptly remitting the amounts so received, in like funds, to the account of such Borrower (or, in the case of a Base Rate Revolving Borrowing made to finance reimbursement of a drawing under a Letter of Credit as may be designated contemplated by Section 2.3(d), the applicable Issuing Bank) specified by the Company in writing to Administrative Agent by Borrowerthe applicable Funding Notice.

Appears in 2 contracts

Samples: Credit Agreement (Chrysler Group LLC), Credit Agreement (Chrysler Group LLC)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d), Class A Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 50,000, and integral multiples of $1,000,000 in excess of that amount, Class B Revolving Loans that are Eurodollar Rate Loans shall be made in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount50,000. (ii) Subject to Section 3.3(b), whenever Borrower Whenever Company desires that Lenders make Revolving Loans, Borrower Company shall deliver to Administrative Agent, each Class B Revolving Lender, the Paying Agent and the Custodian a fully executed and delivered Funding Notice no later than 1:00 p.m. 11:00 a.m. (New York City time) at least three Business Days in advance of the proposed Credit Date in the case of a Eurodollar Rate Loan and at least one (1) Business Day in advance of the proposed Credit Date in Date. Each such Funding Notice shall be delivered with a Borrowing Base Certificate reflecting sufficient Class A Revolving Availability and Class B Revolving Availability, as applicable, for the case of requested Revolving Loans and a Revolving Loan that is a Borrowing Base Rate LoanReport. (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day as Administrative Agent’s receipt of such Notice from Borrower. (iv) Each Lender shall make the amount of its Revolving Loan available to Administrative the Paying Agent not later than 12:00 1:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in DollarsDollars to the Funding Account, at and the Principal Office designated by Administrative Agent. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Paying Agent shall make remit such funds to the proceeds of such Revolving Loans available to Borrower on the applicable Credit Date Company not later than 3:00 p.m. (New York City time) by causing an amount wire transfer of same day funds in Dollars, equal Dollars from the Funding Account to another account of Company designated in the proceeds of all such related Funding Notice. (iv) Company may borrow Class A Revolving Loans received by Administrative Agent from Lenders pursuant to be credited this Section 2.1, purchase Eligible Receivables pursuant to the account of Borrower at the Principal Office designated by Administrative Agent or such other account as Section 2.11(c)(vii)(C) and/or repay Class A Revolving Loans pursuant to Section 2.11(c)(vii)(B) no more than three (3) times per week. Company may be designated in writing borrow Class B Revolving Loans pursuant to Administrative Agent by Borrowerthis Section 2.1 no more than three (3) times a week.

Appears in 2 contracts

Samples: Credit Agreement (On Deck Capital, Inc.), Credit Agreement (On Deck Capital Inc)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d2.3(d), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount, and Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount. (ii) Subject to Section 3.3(b), whenever Whenever Borrower desires that Lenders make Revolving Loans, the Borrower shall deliver to the Administrative Agent a fully executed and delivered Funding Borrowing Notice no later than 1:00 2:00 p.m. (New York City time) at least three (3) Business Days in advance of the proposed Credit Date (or such shorter time as is agreed to by the Administrative Agent hereunder) in the case of a Eurodollar Rate Loan Loan, and at least one (1) Business Day in advance of the proposed Credit Date (or such shorter time as is agreed to by the Administrative Agent hereunder) in the case of a Revolving Loan that is a Base Rate Loan. Except as otherwise provided herein, a Borrowing Notice for a Revolving Loan that is a Eurodollar Rate Loan shall be irrevocable on and after the related Interest Rate Determination Date, and the Borrower shall be bound to make a borrowing in accordance therewith. (iii) Notice of receipt of each Funding Borrowing Notice in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by the Administrative Agent to each applicable Lender by telefacsimile facsimile with reasonable promptness, but (provided the Administrative Agent shall have received such notice by 1:00 p.m. 10:00 a.m. (New York City time)) not later than 2:00 p.m. (New York City time) and, in any event, no later than 4:00 p.m. (New York City time) on the same day as the Administrative Agent’s receipt of such Borrowing Notice from the Borrower. (iv) Each Lender shall make the amount of its Revolving Loan available to the Administrative Agent not later than 12:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in Dollars, at the Principal Office designated by the Administrative Agent. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, the Administrative Agent shall make the proceeds of such Revolving Loans available to the Borrower on the applicable Credit Date by causing an amount of same day funds in Dollars, Dollars equal to the proceeds of all such Revolving Loans received by the Administrative Agent from Lenders to be credited to the account of the Borrower (or its designee) at the Principal Office designated by the Administrative Agent or such other account as may be designated in writing to the Administrative Agent by the Borrower.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Las Vegas Sands Corp), Revolving Credit Agreement (Las Vegas Sands Corp)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount, and Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount. (ii) Subject to Section 3.3(b), whenever Whenever Borrower desires that Lenders make Revolving Loans, Borrower shall deliver to Administrative Agent by telefacsimile, electronic communication (in pdf format) or hand delivery a fully executed and delivered Funding Notice no later than 1:00 (i) one Business Day prior to the Closing Date in the case of any Revolving Loans to be funded on the Closing Date, (ii) 12:00 p.m. (New York City time) at least three Business Days in advance of the proposed Credit Date (other than the Closing Date) in the case of a Eurodollar Rate Loan Loan, and (iii) no later than 2:00 p.m. (New York City time) at least one Business Day in advance of the proposed Credit Date (other than the Closing Date) in the case of a Base Rate Loan. Except as otherwise provided herein, a Funding Notice for a Revolving Loan that is a Base Eurodollar Rate LoanLoan shall be irrevocable on and after the related Interest Rate Determination Date, and Borrower shall be bound to make a borrowing in accordance therewith. (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 12:00 p.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day as Administrative Agent’s receipt of such Funding Notice from Borrower. (iv) Each Lender shall make the amount of its Revolving Loan available to Administrative Agent not later than 12:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in Dollars, at the Principal Office designated by Administrative Agent. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Agent shall make the proceeds of such Revolving Loans available to Borrower on the applicable Credit Date by causing an amount of same day funds in Dollars, Dollars equal to the proceeds of all such Revolving Loans received by Administrative Agent from Lenders to be credited to the an account of Borrower at the Principal Office designated by Administrative Agent or such other account as may be designated in writing to Administrative Agent by Borrower.

Appears in 2 contracts

Samples: Credit and Guaranty Agreement (Bz Intermediate Holdings LLC), Credit and Guaranty Agreement (Boise Inc.)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 1,000,000 and integral multiples of $1,000,000 500,000 in excess of that amount, and Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 1,000,000 and integral multiples of $1,000,000 500,000 in excess of that amount. (ii) Subject to Section 3.3(b3.2(b), whenever Borrower desires that Lenders make Revolving Loans, Borrower shall deliver to Administrative Agent a fully executed and delivered Funding Notice no later than 1:00 p.m. (New York City time) at least three Business Days in advance of the proposed Credit Date in the case of a Eurodollar Rate Loan Loan, and at least one (1) Business Day in advance of the proposed Credit Date in the case of a Revolving Loan that is a Base Rate Loan; provided that, if such Credit Date is the Closing Date, such Funding Notice may be delivered on the Closing Date with respect to Base Rate Loans and such period shorter than three Business Days as may be agreed by Administrative Agent with respect to Eurodollar Rate Loans. Except as otherwise provided herein, a Funding Notice for a Revolving Loan that is a Eurodollar Rate Loan shall be irrevocable on and after the related Interest Rate Determination Date, and Borrower shall be bound to make a borrowing in accordance therewith. (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. 10:00 a.m. (New York City time)) not later than 2:00 3:00 p.m. (New York City time) on the same day as Administrative Agent’s receipt of such Notice from Borrower. (iv) Each Lender shall make the amount of its Revolving Loan available to Administrative Agent not later than 12:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in Dollars, at the Principal Office designated by of Administrative Agent. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Agent shall make the proceeds of such Revolving Loans available to Borrower on the applicable Credit Date by causing an amount of same day funds in Dollars, Dollars equal to the proceeds of all such Revolving Loans received by Administrative Agent from Lenders to be credited to the account of Borrower at the Principal Office designated by Administrative Agent or such other account as may be designated in writing to Administrative Agent by Borrower.

Appears in 2 contracts

Samples: Credit and Guaranty Agreement (American Casino & Entertainment Properties LLC), First Lien Credit and Guaranty Agreement (American Casino & Entertainment Properties LLC)

Borrowing Mechanics for Revolving Loans. (ia) Except pursuant to Section 2.4(d)2.10, Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 100,000 and integral multiples of $1,000,000 100,000 in excess of that amount, and Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 500,000 and integral multiples of $1,000,000 100,000 in excess of that amount. (iib) Subject to Section 3.3(b), whenever Borrower desires Whenever Borrowers desire that Lenders make Revolving Loans, Borrower Borrowers shall deliver to Administrative Agent a fully executed and delivered Funding Notice no later than 1:00 3:00 p.m. (New York City time) at least three Business Days in advance of the proposed Credit Date in the case of a Eurodollar Rate Loan Loan, and at least one Business Day in advance of the proposed Credit Date in the case of a Revolving Loan that is a Base Rate Loan. Except as otherwise provided herein, a Funding Notice for a Revolving Loan that is a Eurodollar Rate Loan shall be irrevocable on and after the related Interest Rate Determination Date, and Borrowers shall be bound to make a borrowing in accordance therewith. (iiic) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. 10:00 a.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day as Administrative Agent’s receipt of such Notice from BorrowerBorrowers. (ivd) Each Lender shall make the amount of its Revolving Loan available to Administrative Agent not later than 12:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in Dollars, at the Principal Office designated by Administrative Agent’s Principal Office. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Agent shall make the proceeds of such Revolving Loans available to Borrower Borrowers on the applicable Credit Date by causing an amount of same day funds in Dollars, Dollars equal to the proceeds of all such Revolving Loans received by Administrative Agent from Lenders to be credited to the account of Borrower Borrowers at the Administrative Agent’s Principal Office designated by Administrative Agent or such other account as may be designated in writing to Administrative Agent by BorrowerBorrowers.

Appears in 2 contracts

Samples: Credit and Guaranty Agreement (Prommis Solutions Holding Corp.), Credit and Guaranty Agreement (Prommis Solutions Holding Corp.)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount, Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount. (ii) Subject to Section 3.3(b)3.2, whenever Borrower desires that Lenders make Revolving Loans, Borrower shall deliver to Revolving Facility Administrative Agent a fully executed and delivered Funding Notice no later than 1:00 p.m. 10:00 a.m. (New York City Hong Kong time) at least three Business Days in advance of the proposed Credit Date in the case of Date. Except as otherwise provided herein, a Eurodollar Rate Loan and at least one Business Day in advance of the proposed Credit Date in the case of Funding Notice for a Revolving Loan that is shall be irrevocable, and Borrower shall be bound to make a Base Rate Loanborrowing in accordance therewith. (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Revolving Facility Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided Revolving Facility Administrative Agent shall have received such notice by 1:00 p.m. 10:00 a.m. (New York City Hong Kong time)) not later than 2:00 p.m. (New York City time) on the same day as Revolving Facility Administrative Agent’s receipt of such Funding Notice from Borrower. (iv) Each Lender shall make the amount of its Revolving Loan available to Revolving Facility Administrative Agent not later than 12:00 p.m. (New York City Hong Kong time) on the applicable Credit Date by wire transfer of same day funds in Dollars, at the Principal Office designated by of Revolving Facility Administrative Agent. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Revolving Facility Administrative Agent shall make the proceeds of such Revolving Loans available to Borrower on the applicable Credit Date by causing an amount of same day funds in Dollars, Dollars equal to the proceeds of all such Revolving Loans received by Revolving Facility Administrative Agent from Lenders to be credited to the account of Borrower at the Principal Office designated by Revolving Facility Administrative Agent or such other account as may be designated in writing to Revolving Facility Administrative Agent by Borrower.

Appears in 2 contracts

Samples: Credit and Guaranty Agreement (Nord Anglia Education, Inc.), Credit and Guaranty Agreement (Nord Anglia Education, Inc.)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 2,000,000 and integral multiples of $1,000,000 in excess of that amount, and Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 2,000,000 and integral multiples of $1,000,000 100,000 in excess of that amount. (ii) Subject to Section 3.3(b3.2(b), whenever Borrower desires that Lenders make Revolving Loans, Borrower shall deliver to Administrative Agent a fully executed and delivered Funding Notice no later than 1:00 p.m. 10:00 a.m. (New York City time) at least three Business Days in advance of the proposed Credit Date in the case of a Eurodollar Rate Loan Loan, and at least one Business Day in advance of the proposed Credit Date in the case of a Revolving Loan that is a Base Rate Loan; provided that, if such Credit Date is the Closing Date, such Funding Notice may be delivered on the Closing Date with respect to Base Rate Loans and such period shorter than three Business Days as may be agreed by Administrative Agent with respect to Eurodollar Rate Loans. Except as otherwise provided herein, a Funding Notice for a Revolving Loan that is a Eurodollar Rate Loan shall be irrevocable on and after the related Interest Rate Determination Date, and Borrower shall be bound to make a borrowing in accordance therewith. (iii) Notice of Promptly following receipt of each a Funding Notice in respect of Revolving Loans, together with Administrative Agent shall advise each Lender of the details thereof and the amount of each such Lender’s Pro Rata Share thereofof the requested Borrowing, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day as Administrative Agent’s receipt of such Notice from Borrower. (iv) Each Lender shall make the amount of its Revolving Loan available to Administrative Agent not later than 12:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in Dollars, at the Principal Office designated by of Administrative Agent. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Agent shall make the proceeds of such Revolving Loans received from the Lenders available to Borrower on the applicable Credit Date by causing an amount of same day funds in Dollars, Dollars equal to the proceeds of all such Revolving Loans received by Administrative Agent from Lenders to be credited to the account of Borrower at the Principal Office designated by Administrative Agent or such other account as may be designated in writing to Administrative Agent by Borrower.

Appears in 2 contracts

Samples: Credit and Guaranty Agreement, Credit and Guaranty Agreement (TerraForm Power, Inc.)

Borrowing Mechanics for Revolving Loans. (a) Funds Administrator shall give Lender prior telephonic notice (immediately confirmed in writing, in substantially the form of Exhibit B hereto (a “Notice of Revolving Loan Borrowing”), not later than 10:00 a.m. on the date of borrowing of a Revolving Loan; provided, that, notwithstanding anything to the contrary set forth herein, except as otherwise previously agreed to by Lender, Funds Administrator shall not submit a Notice of Revolving Loan Borrowing and Lender shall not be required to make any Revolving Loan more than once in any week. Each Notice of Revolving Loan Borrowing shall be irrevocable and shall specify (i) Except pursuant to Section 2.4(d), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum the principal amount of $5,000,000 the proposed Revolving Loan, and integral multiples of $1,000,000 in excess of that amount(ii) the proposed borrowing date therefor, Revolving Loans that are Eurodollar Rate Loans shall which must be in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amounta Business Day. (iib) Subject The Funds Administrator shall notify Lender in writing of the names of the officers of Funds Administrator authorized to request Revolving Loans on behalf of Borrowers and specifying which of those officers are also, or, if none are, the officers that are, authorized to direct the disbursement of Revolving Loans in a manner contrary to standing disbursement instructions, and shall provide Lender with a specimen signature of each such officer. In the absence of a specification of those officers who are authorized to vary standing disbursement instructions, Lender may assume that each officer authorized to request Revolving Loans also has such authority. Lender shall be entitled to rely conclusively on the authority of such officers of Funds Administrator to request Revolving Loans on behalf of Borrowers, or to vary standing disbursement instructions, until Lender receives written notice to the contrary. Lender shall have no duty to verify the authenticity of the signature appearing on any Notice of Revolving Loan Borrowing or other writing delivered pursuant to this Section 3.3(b)2.2 and, whenever Borrower desires that Lenders make with respect to an oral or electronic mail request for Revolving Loans, Borrower Lender shall deliver have no duty to Administrative Agent a fully executed and delivered Funding Notice no later than 1:00 p.m. (New York City time) at least three Business Days in advance verify the identity of any individual representing himself as one of the proposed Credit Date in the case of a Eurodollar Rate Loan and at least one Business Day in advance officers of the proposed Funds Administrator authorized to make such request on behalf of Borrowers. Lender shall not incur any liability to any Credit Date Party as a result of (i) acting upon any telephonic or electronic mail notice referred to in this Section 2.2 if Lender believes in good faith such notice to have been given by a duly authorized officer of Funds Administrator or other individual authorized to request Revolving Loans on behalf of Borrowers or to direct the case of disbursement thereof in a manner contrary to standing disbursement instructions, or (ii) otherwise acting in good faith under this Section 2.2 and an advance made and disbursed pursuant to any such telephonic or electronic mail notice shall be deemed to be a Revolving Loan that is a Base Rate Loanfor all purposes of this Credit Agreement. (iiic) Notice In addition to being evidenced, as provided in Section 2.5, by Borrowers’ Account, the Revolving Loans and Borrowers’ joint and several obligations to repay the Revolving Loans with interest in accordance with the terms of receipt this Credit Agreement shall be evidenced by this Credit Agreement, the records of each Funding Notice Lender and the respective Revolving Loan Notes. The records of Lender shall be prima facie evidence of the Revolving Loans and accrued interest thereon and of all payments made in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day as Administrative Agent’s receipt of such Notice from Borrower. (ivd) Each Lender shall make Notwithstanding the amount obligation of its Funds Administrator to send written confirmation of any Notice of Revolving Loan available Borrowing made by telephone or electronic mail transmission if and when requested by Lender, in the event that Lender agrees to Administrative Agent accept a Notice of Revolving Loan Borrowing made by telephone or electronic mail transmission, such notice shall be binding on Borrowers whether or not later than 12:00 p.m. (New York City time) on written confirmation is sent by Funds Administrator or requested by Lender. Lender may act prior to the applicable Credit Date receipt of any requested written confirmation, without any liability whatsoever, based upon telephonic or electronic mail notice believed by wire transfer of same day funds Lender in Dollars, at the Principal Office designated by Administrative Agentgood faith to be from Funds Administrator or its agents. Except as provided herein, upon satisfaction or waiver Lender’s records of the conditions precedent specified herein, Administrative Agent terms of any telephonic or electronic mail transmission of any Notice of Revolving Loan Borrowing shall make the proceeds of such Revolving Loans available to Borrower be conclusive on the applicable Credit Date by causing an amount of same day funds in Dollars, equal to the proceeds of all such Revolving Loans received by Administrative Agent from Lenders to be credited to the account of Borrower at the Principal Office designated by Administrative Agent or such other account as may be designated in writing to Administrative Agent by BorrowerBorrowers.

Appears in 2 contracts

Samples: Credit Agreement (Brookside Technology Holdings, Corp.), Credit Agreement (Brookside Technology Holdings, Corp.)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d), Revolving Loans that are Base Rate LIBOR Loans, Euribor Loans shall be made in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount, Revolving Loans that are Eurodollar Rate or BA Loans shall be in an aggregate minimum amount Base Currency Amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount. (ii) Subject to Section 3.3(b), whenever Whenever a Borrower desires that Lenders Banks make Revolving Loans, such Borrower shall deliver to Administrative Agent a fully executed and delivered Funding Notice no later than 1:00 p.m. 9:30 a.m. (New York City time) at least three Business Days in advance of the proposed Credit Date in the case of a Eurodollar Rate LIBOR Loan, a Euribor Loan and at least one Business Day in advance of the proposed Credit Date in the case of or a BA Loan. Except as otherwise provided herein, a Funding Notice for a Revolving Loan that is a Base LIBOR Loan or a Euribor Loan shall be irrevocable on and after the related Interest Rate LoanDetermination Date, and such Borrower shall be bound to make a borrowing in accordance therewith. (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each LenderBank’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Lender Bank by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. 9:30 a.m. (New York City time)) not later than 2:00 3:00 p.m. (New York City time) on the same day as Administrative Agent’s receipt of such Notice from the applicable Borrower. In addition, the Administrative Agent shall determine the Base Currency Amount of each Revolving Loan which is to be made in an Optional Currency and notify each Bank of the amount, currency and the Base Currency Amount of each Loan. (iv) Each Lender Bank shall make the amount of its Revolving Loan available to Administrative Agent not later than 12:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in DollarsBase Currency (or the Optional Currency if requested), at the Principal Office designated by Administrative Agent’s Principal Office. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Agent shall make the proceeds of such Revolving Loans available to the applicable Borrower on the applicable Credit Date by causing an amount of same day funds in Dollars, Base Currency (or the Optional Currency if requested) equal to the proceeds of all such Revolving Loans received by Administrative Agent from Lenders Banks to be credited to the account of such Borrower at the Administrative Agent’s Principal Office designated by Administrative Agent or such other account as may be reasonably designated in writing no later than 3 days before to Administrative Agent by such Borrower.

Appears in 2 contracts

Samples: Credit and Guaranty Agreement (Xerium Technologies Inc), Credit and Guaranty Agreement (Xerium Technologies Inc)

Borrowing Mechanics for Revolving Loans. (ia) Except pursuant to Section 2.4(d2.2.2(c), all Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 1,000,000 and integral multiples of $1,000,000 500,000 in excess of that amountamount or, Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum if less, the amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amountthe unused Aggregate Revolving Commitment. (iib) Subject to Section 3.3(b), whenever Borrower desires Whenever the Borrowers desire that the Lenders make a Revolving LoansLoan, Borrower the Borrowers shall deliver to the Administrative Agent a fully executed and delivered Funding Notice no later than 1:00 (x) 12:00 p.m. (New York City time) at least three (3) Business Days in advance of the proposed Credit Date in the case of a Eurodollar an Adjusted LIBOR Rate Loan and (y) 12:00 p.m. at least one (1) Business Day in advance of the proposed Credit Date in the case of a Revolving Loan that is a Base Rate Loan. Except as otherwise provided herein, any Funding Notice for any Loans that are Adjusted LIBOR Rate Loans shall be irrevocable on and after the related Interest Rate Determination Date, and the Borrowers shall be bound to make a borrowing in accordance therewith. (iiic) Notice of receipt of each Funding Notice in respect of each Revolving LoansLoan, together with the amount of each Lender’s Pro Rata Share Revolving Commitment Percentage thereof, if any, together with the applicable interest rate, shall be provided by the Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided the Administrative Agent shall have received such notice Funding Notice by 1:00 p.m. (New York City time)12:00 p.m.) not later than 2:00 3:00 p.m. (New York City time) on the same day as the Administrative Agent’s receipt of such Funding Notice from the Borrower. (ivd) Each Lender shall make its Revolving Commitment Percentage of the amount of its requested Revolving Loan available to the Administrative Agent not later than 12:00 p.m. (New York City time) 11:00 a.m. on the applicable Credit Date by wire transfer of same day funds in Dollars, at the Principal Office designated by Administrative Agent’s Principal Office. Except as provided herein, upon satisfaction or waiver of the applicable conditions precedent specified herein, the Administrative Agent shall make the proceeds of such Revolving Loans Loan available to Borrower the Borrowers on the applicable Credit Date by causing an amount of same day funds in Dollars, Dollars equal to the proceeds of all such Revolving Loans aggregate amount received by the Administrative Agent from the Lenders in connection with such Revolving Loan to be credited to the account of Borrower the Borrowers at the Administrative Agent’s Principal Office designated by Administrative Agent or such other account as may be designated in writing to the Administrative Agent by Borrowerthe Borrowers.

Appears in 2 contracts

Samples: Credit Agreement (Protective Life Insurance Co), Credit Agreement (Protective Life Insurance Co)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 2,000,000 and integral multiples of $1,000,000 in excess of that amount, and Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 2,000,000 and integral multiples of $1,000,000 100,000 in excess of that amount. (ii) Subject to Section 3.3(b3.2(b), whenever Borrower desires that Lenders make Revolving Loans, Borrower shall deliver to Administrative Agent a fully executed and delivered Funding Notice no later than 1:00 p.m. 10:00 a.m. (New York City time) at least three Business Days in advance of the proposed Credit Date in the case of a Eurodollar Rate Loan Loan, and at least one Business Day in advance of the proposed Credit Date in the case of a Revolving Loan that is a Base Rate Loan; provided that, if such Credit Date is the Closing Date, such Funding Notice may be delivered on the Closing Date with respect to Base Rate Loans and such period shorter than three Business Days as may be agreed by Administrative Agent with respect to Eurodollar Rate Loans. Except as otherwise provided herein, a Funding Notice for a Revolving Loan that is a Eurodollar Rate Loan shall be irrevocable on and after the related Interest Rate Determination Date, and Borrower shall be bound to make a borrowing in accordance therewith. (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice Notice by 1:00 p.m. 10:00 a.m. (New York City time)) not later than 2:00 3:00 p.m. (New York City time) on the same day as Administrative Agent’s receipt of such Notice from Borrower. (iv) Each Lender shall make the amount of its Revolving Loan available to Administrative Agent not later than 12:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in Dollars, at the Principal Office designated by of Administrative Agent. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Agent shall make the proceeds of such Revolving Loans available to Borrower on the applicable Credit Date by causing an amount of same day funds in Dollars, Dollars equal to the proceeds of all such Revolving Loans received by Administrative Agent from Lenders to be credited to the account of Borrower at the Principal Office designated by Administrative Agent or such other account as may be designated in writing to Administrative Agent by Borrower.

Appears in 2 contracts

Samples: Credit and Guaranty Agreement (TerraForm Power, Inc.), Credit and Guaranty Agreement

Borrowing Mechanics for Revolving Loans. (i) Except Subject to Section 4.01(a)(i) in the case of Borrowings of Revolving Loans on the Closing Date and Section 4.02(c) in the case of each other Borrowing of Revolving Loans, each Borrowing of Revolving Loans shall be made upon the Borrower’s irrevocable notice to the Administrative Agent, which may only be given in writing. Each such notice must be received by the Administrative Agent not later than (A) 1:00 p.m. three Business Days prior to the requested date of any Borrowing of Benchmark Rate Loans, and (B) 12:00 noon on the requested date of any Borrowing of Base Rate Loans. Each notice by the Borrower pursuant to this Section 2.4(d)2.02(b) must be delivered to the Administrative Agent in the form of a Committed Loan Notice, Revolving appropriately completed and signed by a Responsible Officer of the Borrower. Each Borrowing of Benchmark Rate Loans that are shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof in the case of Benchmark Rate Loans. Each Borrowing of Base Rate Loans shall be made in an aggregate minimum a principal amount of $5,000,000 and integral multiples 500,000 or a whole multiple of $1,000,000 100,000 in excess thereof. Each Committed Loan Notice shall specify (1) the requested date of that amountthe Borrowing (which shall be a Business Day), (2) the principal amount of Revolving Loans that are Eurodollar Rate to be borrowed, (3) the Type of Revolving Loans to be borrowed and (4) if applicable, the duration of the Interest Period with respect thereto. If the Borrower fails to specify a Type of Revolving Loan in a Committed Loan Notice, then in the case of Revolving Loans, the applicable Revolving Loans shall be made as Base Rate Loans. If the Borrower requests a Borrowing of Benchmark Rate Loans in any such Committed Loan Notice, but fails to specify an aggregate minimum amount Interest Period for such Benchmark Rate Loans, the Borrower will be deemed to have specified an Interest Period of $5,000,000 and integral multiples of $1,000,000 in excess of that amountone month. (ii) Subject to Section 3.3(b)Following receipt of a Committed Loan Notice, whenever Borrower desires that Lenders make the Administrative Agent shall promptly notify each Lender of the amount of its Pro Rata Share of the applicable Revolving Loans, Borrower shall deliver to Administrative Agent a fully executed and delivered Funding Notice no later than 1:00 p.m. (New York City time) at least three Business Days in advance of the proposed Credit Date in . In the case of a Eurodollar Rate Loan and at least one Business Day in advance of the proposed Credit Date in the case of a Revolving Loan that is a Base Rate Loan. (iii) Notice of receipt of each Funding Notice in respect of Revolving LoansBorrowing, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day as Administrative Agent’s receipt of such Notice from Borrower. (iv) Each Appropriate Lender shall make the amount of its Revolving Loan available to the Administrative Agent in Same Day Funds at the Administrative Agent’s Office not later than 12:00 p.m. (New York City time) 1:00 p.m., on the Business Day specified in the applicable Credit Date by wire transfer of same day funds in Dollars, at the Principal Office designated by Administrative AgentCommitted Loan Notice. Except as provided herein, upon Upon satisfaction or waiver of the applicable conditions precedent specified hereinset forth in Section 4.02 (or if such Borrowing is on the Closing Date, Section 4.01), the Administrative Agent shall make all funds so received available to the Borrower in like funds as received by the Administrative Agent either by (A) crediting the account of the Borrower on the books of the Administrative Agent with the amount of such funds or (B) wire transfer of such funds, in each case in accordance with instructions provided to (and reasonably acceptable to) the Administrative Agent by the Borrower; provided however, that if, on the date the Committed Loan Notice with respect to such Borrowing is given by the Borrower, there are Reimbursement Obligations outstanding, then the proceeds of such Borrowing shall be applied, first, to the payment in full of any such Reimbursement Obligations and second, to the Borrower as provided above. (iii) The failure of any Lender to make the Revolving Loans available Loan to Borrower be made by it as part of any Borrowing shall not relieve any other Lender of its obligation, if any, hereunder to make its Revolving Loan on the applicable Credit Date by causing an amount date of same day funds in Dollarssuch Borrowing, equal but no Lender shall be responsible for the failure of any other Lender to make the proceeds of all such Revolving Loans received by Administrative Agent from Lenders Loan to be credited to the account of Borrower at the Principal Office designated made by Administrative Agent or such other account as may be designated in writing to Administrative Agent by BorrowerLender on the date of any Borrowing.

Appears in 2 contracts

Samples: Credit Agreement (Ironwood Pharmaceuticals Inc), Credit Agreement (Ironwood Pharmaceuticals Inc)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d), Each Revolving Loans that are Base Rate Loans Loan shall be made in an aggregate minimum amount as part of $5,000,000 and integral multiples a Borrowing consisting of $1,000,000 in excess of that amount, Revolving Loans that are of the same Type made by the Revolving Lenders proportionately to their applicable Pro Rata Shares. At the commencement of each Interest Period for any Eurodollar Rate Loans Revolving Borrowing, such Borrowing shall be in an aggregate minimum amount of $5,000,000 and 1,000,000 or an integral multiples multiple of $500,000 in excess of such amount; provided that a Eurodollar Rate Revolving Borrowing that results from a continuation of an outstanding Eurodollar Rate Revolving Borrowing may be in an aggregate amount that is equal to the amount of such outstanding Borrowing. At the time each Base Rate Revolving Borrowing is made, such Borrowing shall be in an aggregate amount of $1,000,000 or an integral multiple of $500,000 in excess of such amount; provided that amountsuch Borrowing may be in an aggregate amount that is equal to the entire unused balance of the Total Revolving Commitments or that is required to finance the reimbursement of a drawing under a Letter of Credit as contemplated by Section 2.3(d). (ii) Subject to Section 3.3(b)To request a Revolving Borrowing, whenever Borrower desires that Lenders make Revolving Loans, the Borrower shall deliver to the Administrative Agent a fully completed and executed and delivered Funding Notice no (A) in the case of a Eurodollar Rate Revolving Borrowing, not later than 1:00 2:00 p.m. (New York City time) at least three Business Days in advance of the proposed Credit Date (which shall be a Business Day) and (B) in the case of a Eurodollar Base Rate Loan and Revolving Borrowing, not later than 11:00 a.m. (New York City time) at least one Business Day in advance of the proposed Credit Date (which shall be a Business Day). In lieu of delivering a Funding Notice, the Borrower may give the Administrative Agent, not later than the applicable time set forth above, telephonic notice of any proposed Revolving Borrowing; provided that such telephonic notice shall be promptly confirmed in writing by delivery to the case Administrative Agent of a fully completed and executed Funding Notice. Promptly upon receipt by the Administrative Agent of a Funding Notice or a telephonic notice in accordance with this paragraph, the Administrative Agent shall notify each Revolving Lender of the details thereof and of the amount of such Lender’s Revolving Loan that is to be made as part of the requested Revolving Borrowing. Following delivery of a Base Funding Notice or a telephonic notice for a Eurodollar Rate LoanRevolving Borrowing, any failure to make such Borrowing shall be subject to Section 2.17(c). (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with Each Lender shall make the principal amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall Revolving Loan required to be provided made by it hereunder on any Credit Date available to the Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. (New York City time)) not later than 2:00 1:00 p.m. (New York City time) on the same day as Administrative Agent’s receipt of such Notice from Borrower. (iv) Each Lender shall make the amount of its Revolving Loan available to Administrative Agent not later than 12:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in Dollars, at the Principal Office designated by Administrative Agent. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Agent shall make the proceeds of such Revolving Loans available to Borrower on the applicable Credit Date by causing an amount of same day funds in Dollars, equal to the proceeds of all such Revolving Loans received by Administrative Agent from Lenders to be credited Dollars to the account of Borrower at the Principal Office Administrative Agent most recently designated by it for such purpose by notice to the Lenders. The Administrative Agent or will make each such other Revolving Loan available to the Borrower by promptly remitting the amounts so received, in like funds, to the account specified by the Borrower in the applicable Funding Notice (or, in the case of a Base Rate Revolving Borrowing specified by the Borrower in the applicable Funding Notice as may be designated in writing made to Administrative Agent finance reimbursement of a drawing under a Letter of Credit as contemplated by BorrowerSection 2.3(d), to the applicable Issuing Bank).

Appears in 2 contracts

Samples: First Lien Credit and Guaranty Agreement (Fusion Connect, Inc.), First Lien Credit and Guaranty Agreement (Fusion Connect, Inc.)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount, and Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount. (ii) Subject to Section 3.3(b), whenever Borrower Whenever NewPageCo desires that Lenders make Revolving Loans, Borrower NewPageCo shall deliver to Administrative Agent a fully executed and delivered Funding Notice no later than 1:00 p.m. 10:00 a.m. (New York City time) at least three Business Days in advance of the proposed Credit Date in the case of a Eurodollar Rate Loan Loan, and at least one Business Day in advance of the proposed Credit Date in the case of a Revolving Loan that is a Base Rate Loan. Except as otherwise provided herein, a Funding Notice for a Revolving Loan that is a Eurodollar Rate Loan shall be irrevocable on and after the related Interest Rate Determination Date, and NewPageCo shall be bound to make a borrowing in accordance therewith. (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. 10:00 a.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day as Administrative Agent’s receipt of such Notice from BorrowerNewPageCo. (iv) Each Lender shall make the amount of its Revolving Loan available to Administrative Agent not later than 12:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in Dollars, at the Principal Office designated by Administrative Agent. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Agent shall make the proceeds of such Revolving Loans available to Borrower NewPageCo on the applicable Credit Date by causing an amount of same day funds in Dollars, Dollars equal to the proceeds of all such Revolving Loans received by Administrative Agent from Lenders to be credited to the account of Borrower NewPageCo at the Principal Office designated by Administrative Agent or such other account as may be designated in writing to Administrative Agent by BorrowerNewPageCo.

Appears in 2 contracts

Samples: Revolving Credit and Guaranty Agreement (NewPage CORP), Revolving Credit and Guaranty Agreement (NewPage CORP)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d2.04(d), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount, and Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount. (ii) Subject to Section 3.3(b3.02(b), whenever the Borrower desires that Lenders make Revolving Loans, the Borrower shall deliver to Administrative Agent a fully executed and delivered Funding Notice no later than 1:00 p.m. 10:00 a.m. (New York City time) at least three (3) Business Days in advance of the proposed Credit Date in the case of a Eurodollar Rate Loan Loan, and at least one (1) Business Day in advance of the proposed Credit Date in the case of a Revolving Loan that is a Base Rate Loan. Except as otherwise provided herein, a Funding Notice for a Revolving Loan that is a Eurodollar Rate Loan shall be irrevocable on and after the related Interest Rate Determination Date, and the Borrower shall be bound to make a borrowing in accordance therewith. (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by the Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided the Administrative Agent shall have received such notice by 1:00 p.m. 10:00 a.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day as the Administrative Agent’s receipt of such Funding Notice from the Borrower. (iv) Each Lender shall make the amount of its Revolving Loan available to the Administrative Agent not later than 12:00 p.m. noon (New York City time) on the applicable Credit Date by wire transfer of same day funds in Dollars, at the Principal Office designated by the Administrative Agent. Except as provided herein, upon satisfaction or waiver of the applicable conditions precedent specified herein, the Administrative Agent shall make the proceeds of such Revolving Loans available to the Borrower on the applicable Credit Date by causing an amount of same day funds in Dollars, Dollars equal to the proceeds of all such Revolving Loans received by the Administrative Agent from Lenders to be credited to the account of the Borrower at the Principal Office designated by the Administrative Agent or such other account as may be designated in writing to the Administrative Agent by the Borrower.

Appears in 2 contracts

Samples: Credit and Guaranty Agreement (Hologic Inc), Credit and Guaranty Agreement (Gen Probe Inc)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d), Revolving Loans that are Base Index Rate Loans shall be made in an aggregate minimum amount of $5,000,000 100,000 and integral multiples of $1,000,000 100,000 in excess of that amount, and Revolving Loans that are Eurodollar Rate LIBOR Loans shall be in an aggregate minimum amount of $5,000,000 1,000,000 and integral multiples of $1,000,000 100,000 in excess of that amount. (ii) Subject to Section 3.3(b), whenever Borrower Whenever Company desires that Lenders make Revolving Loans, Borrower Company shall deliver to Administrative Agent a fully executed and delivered Funding Notice no later than 1:00 p.m. 10:00 a.m. (New York City time) at least three Business Days in advance of the proposed Credit Date in the case of a Eurodollar Rate Loan LIBOR Loan, and at least one Business Day in advance of the proposed Credit Date in the case of a Revolving Loan that is a Base Index Rate Loan. Except as otherwise provided herein, a Funding Notice for a Revolving Loan that is a LIBOR Loan shall be irrevocable on and after the related Interest Rate Determination Date, and Company shall be bound to make a borrowing in accordance therewith. (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Lender’s 's Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. 10:00 a.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day as Administrative Agent’s 's receipt of such Notice from BorrowerCompany. (iv) Each Lender shall make the amount of its Revolving Loan available to Administrative Agent not later than 12:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in Dollars, at the Principal Office designated by Administrative Agent's Principal Office. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Agent shall make the proceeds of such Revolving Loans available to Borrower Company on the applicable Credit Date by causing an amount of same day funds in Dollars, Dollars equal to the proceeds of all such Revolving Loans received by Administrative Agent from Lenders to be credited to the account of Borrower Company at the Administrative Agent's Principal Office designated by Administrative Agent or such other account as may be designated in writing to Administrative Agent by BorrowerCompany.

Appears in 2 contracts

Samples: Credit and Guaranty Agreement (Amscan Holdings Inc), Credit and Guaranty Agreement (Amscan Holdings Inc)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d2.3(d), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 100,000 and integral multiples of $1,000,000 100,000 in excess of that amount, and Revolving Loans that are Eurodollar LIBO Rate Loans shall be in an aggregate minimum amount of $5,000,000 100,000 and integral multiples of $1,000,000 100,000 in excess of that amount. (ii) Subject to Section 3.3(b3.2(b), whenever Borrower Company desires that Lenders make Revolving Loans, Borrower Company shall deliver to Administrative Agent a fully executed and delivered Funding Notice no later than 1:00 p.m. 10:00 a.m. (New York City time) at least three Business Days in advance of the proposed Credit Date in the case of a Eurodollar LIBO Rate Loan Loan, and at least one Business Day in advance of the proposed Credit Date in the case of a Revolving Loan that is a Base Rate Loan; provided that, if such Credit Date is the Closing Date, such Funding Notice may be delivered on the Closing Date with respect to Base Rate Loans and such period with respect to LIBO Rate Loans may be shorter than three Business Days if agreed by Administrative Agent in its sole discretion. Except as otherwise provided herein, a Funding Notice for a Revolving Loan that is a LIBO Rate Loan shall be irrevocable on and after the related Interest Rate Determination Date, and Company shall be bound to make a borrowing in accordance therewith. (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall will be provided by Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided if Administrative Agent shall have received such notice by 1:00 p.m. 10:00 a.m. (New York City time)) not later than 2:00 3:00 p.m. (New York City time) on the same day as Administrative Agent’s receipt of such Notice from BorrowerCompany. (iv) Each Lender shall make the amount of its Revolving Loan available to Administrative Agent not later than 12:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in Dollars, at the Principal Office designated by Administrative Agent’s Principal Office. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Agent shall make the proceeds of such Revolving Loans available to Borrower Company on the applicable Credit Date by causing an amount of same day funds in Dollars, Dollars equal to the proceeds of all such Revolving Loans received by Administrative Agent from Lenders to be credited to the account of Borrower at the Principal Office designated by Administrative Agent or such other account as may be designated in writing to Administrative Agent on Funding Notice by BorrowerCompany.

Appears in 2 contracts

Samples: Credit and Guaranty Agreement (ONE Group Hospitality, Inc.), Credit and Guaranty Agreement (ONE Group Hospitality, Inc.)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of five hundred thousand Dollars ($5,000,000 500,000) and integral multiples of fifty thousand Dollars ($1,000,000 in excess of that amount, Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 50,000) in excess of that amount. (ii) Subject to Section 3.3(b), whenever Whenever any Borrower desires that Lenders make Revolving Loans, such Borrower shall deliver to Administrative Agent a fully executed and delivered Funding Borrowing Notice And Certificate no later than 1:00 p.m. (New York City time) at least three (3) Business Days in advance of the proposed Credit Date in the case of a Revolving Loan that is a Eurodollar Rate Loan and at least one (1) Business Day in advance of the proposed Credit Date in the case of a Revolving Loan that is a Base Rate Loan. A Borrowing Notice And Certificate for a Revolving Loan that is a Eurodollar Rate Loan shall be revocable on and after the related Interest Rate Determination Date; provided that such Borrower shall be bound to make a borrowing in accordance therewith unless such Borrower compensates Lenders in accordance with Section 2.16(c). (iii) Notice of receipt of each Funding Borrowing Notice And Certificate in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Lender by telefacsimile or electronic transmission means with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. (New York City time)) not later than 2:00 3:00 p.m. (New York City time) on the same day as Administrative Agent’s receipt of such Notice from BorrowerBorrowers. (iv) Each Subject to Section 2.14(b), each Lender shall make the amount of its Revolving Loan available to Administrative Agent not later than 12:00 1:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in Dollarsfunds, at the Principal Office designated by Administrative Agent. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Agent shall make the proceeds of such Revolving Loans available to Borrower Borrowers by no later than 2:00 p.m. on the applicable Credit Date by causing an amount of same day funds in Dollars, the requested currency equal to the proceeds of all such Revolving Loans received by Administrative Agent from Lenders to be credited to the account of Borrower at the Principal Office designated by Administrative Agent or such other account Borrowers as may be designated in writing to Administrative Agent by BorrowerBorrowers.

Appears in 2 contracts

Samples: Credit and Guaranty Agreement, Credit and Guaranty Agreement (Pattern Energy Group Inc.)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 500,000, and integral multiples of $1,000,000 in excess of that amount, Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount1,000,000. (ii) Subject to Section 3.3(b3.2(b), whenever Borrower desires that Lenders make Revolving Loans, Borrower shall deliver to Administrative Agent a fully executed and delivered Funding Notice no later than 1:00 p.m. 10:00 a.m. (New York City time) at least three Business Days in advance of the proposed Credit Date in the case of a Eurodollar Rate Loan Loan, and at least one Business Day in advance of the proposed Credit Date in the case of a Revolving Loan that is a Base Rate Loan. Except as otherwise provided herein, a Funding Notice for a Revolving Loan that is a Eurodollar Rate Loan shall be irrevocable on and after the related Interest Rate Determination Date, and Borrower shall be bound to make a borrowing in accordance therewith. (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Lender by telefacsimile facsimile or electronic mail with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. 10:00 a.m. (New York City time)) not later than 2:00 3:00 p.m. (New York City time) on the same day as Administrative Agent’s receipt of such Notice from Borrower. (iv) Each Lender shall make the amount of its Revolving Loan available to Administrative Agent not later than 12:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in Dollars, at the Principal Office designated by of Administrative Agent. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Agent shall make the proceeds of such Revolving Loans available to Borrower on the applicable Credit Date by causing an amount of same day funds in Dollars, Dollars equal to the proceeds of all such Revolving Loans received by Administrative Agent from Lenders to be credited to the account of Borrower at the Principal Office designated by Administrative Agent or such other account as may be designated in writing to Administrative Agent by Borrower.

Appears in 2 contracts

Samples: Credit and Guaranty Agreement (Gramercy Property Trust Inc.), Credit and Guaranty Agreement (Gramercy Property Trust Inc.)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount, Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount250,000. (ii) Subject to Section 3.3(b), whenever Whenever the Borrower desires that Lenders the Lender make Revolving Loans, the Borrower shall deliver to the Administrative Agent a fully executed and delivered Funding Notice together with a Borrowing Base Certificate no later than 1:00 p.m. (New York City time) at least three two (2) Business Days in advance of the proposed Credit Date in Date. Each such Funding Notice shall be delivered reflecting sufficient Revolving Availability for the case of a Eurodollar Rate Loan and at least one Business Day in advance of the proposed Credit Date in the case of a requested Revolving Loan that is a Base Rate LoanLoans. (iii) Notice of receipt of each Funding Notice and Borrowing Base Certificate in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rateInterest Rate, shall be provided by the Administrative Agent to each applicable the Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day as the Administrative Agent’s 's receipt of such Funding Notice from Borrowerthe Borrower (provided the Administrative Agent shall have received such notice from the Borrower by 1:00 p.m. (New York City time)). (iv) Each The Lender shall make the amount of its Revolving Loan available to the Administrative Agent not later than 12:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in Dollars, at the Principal Office designated by Administrative Agent's Principal Office. Except as provided herein, upon satisfaction or waiver by the Administrative Agent of the conditions precedent specified herein, the Administrative Agent shall make the proceeds of such Revolving Loans available to the Borrower on the applicable Credit Date by causing an amount of same day funds in Dollars, Dollars equal to the proceeds of all such Revolving Loans received by the Administrative Agent from Lenders the Lender to be credited to the account of the Borrower at the Administrative Agent's Principal Office designated by Administrative Agent or such other account as may be designated in writing to the Administrative Agent by the Borrower. (v) Unless otherwise permitted by the Administrative Agent in its sole and absolute discretion and subject to an administration fee of $2,500 per Revolving Loan, no more than two (2) Revolving Loans shall be made per calendar week.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Consumer Portfolio Services Inc), Revolving Credit Agreement (Consumer Portfolio Services Inc)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d), Revolving Loans (x) that are Base Eurodollar Rate Loans shall will be made in an aggregate minimum amount of $5,000,000 1,000,000 and integral multiples of $1,000,000 in excess of that amount, Revolving Loans amount and (y) that are Eurodollar Base Rate Loans shall will be made in an aggregate minimum amount of $5,000,000 500,000 and integral multiples of $1,000,000 100,000 in excess of that amount. (ii) Subject to Section 3.3(b), whenever Whenever the Borrower desires that Lenders make Revolving Loans, the Borrower shall deliver to the Administrative Agent a fully executed and delivered Funding Loan Notice no later than 1:00 p.m. 10:00 a.m. (New York City time) at least three Business Days in advance of the proposed Credit Borrowing Date in the case of a Eurodollar Rate Loan Loan, and at least one no later than 12:00 noon (New York City time) on the Business Day in advance of prior to the proposed Credit Borrowing Date in the case of a Revolving Loan that is a Base Rate Loan; provided that, if such Borrowing Date is the Closing Date, such Loan Notice may be delivered within such period shorter than three Business Days as may be agreed by the Administrative Agent with respect to Eurodollar Rate Loans. Except as otherwise provided herein, a Loan Notice for a Revolving Loan that is a Eurodollar Rate Loan shall be irrevocable on and after the related Interest Rate Determination Date. (iii) Notice of receipt of each Funding Loan Notice in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by the Administrative Agent to each applicable Lender by telefacsimile facsimile or other electronic communication with reasonable promptness, but (provided that the Administrative Agent shall have received such notice by 1:00 p.m. 10:00 a.m. (New York City time)) not later than 2:00 3:00 p.m. (New York City time) on the same day as the Administrative Agent’s receipt of such Loan Notice from the Borrower. (iv) Each Lender shall make the amount of its Revolving Loan available to the Administrative Agent not later than 12:00 p.m. (New York City time) on the applicable Credit Borrowing Date by wire transfer of same day funds in Dollars, at the Principal Office designated by Administrative Agent’s Office. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, the Administrative Agent shall make the proceeds of such Revolving Loans available to the Borrower on the applicable Credit Borrowing Date by causing an amount of same day funds in Dollars, Dollars equal to the proceeds of all such Revolving Loans received by the Administrative Agent from Lenders to be credited to the account of the Borrower at the Principal Administrative Agent’s Office designated by Administrative Agent or such other account as may be designated in writing to the Administrative Agent by the Borrower.

Appears in 2 contracts

Samples: Credit Agreement (Blue Capital Reinsurance Holdings Ltd.), Credit Agreement (Montpelier Re Holdings LTD)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d2.04(d), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount, and Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount. (ii) Subject to Section 3.3(b)2.24, whenever Borrower desires that Lenders make Revolving Loans, Borrower shall deliver to Administrative Agent a fully executed and delivered Funding Notice no later than 1:00 12:00 p.m. (New York City time) at least three Business Days in advance of the proposed Credit Date in the case of a Eurodollar Rate Loan Loan, and at least one Business Day in advance of the proposed Credit Date in the case of a Revolving Loan that is a Base Rate Loan. Except as otherwise provided herein, a Funding Notice for a Revolving Loan that is a Eurodollar Rate Loan shall be irrevocable on and after the related Interest Rate Determination Date, and Borrower shall be bound to make a borrowing in accordance therewith. (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice Funding Notice by 1:00 12:00 p.m. (New York City time)) not later than 2:00 3:00 p.m. (New York City time) on the same day as Administrative Agent’s receipt of such Funding Notice from Borrower. (iv) Each Lender shall make the amount of its Revolving Loan available to Administrative Agent not later than 12:00 2:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in Dollars, at the Principal Office designated by of Administrative Agent. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Agent shall make the proceeds of such Revolving Loans available to Borrower on the applicable Credit Date by causing an amount of same day funds in Dollars, Dollars equal to the proceeds of all such Revolving Loans received by Administrative Agent from Lenders to be credited to the account of Borrower at the Principal Office designated by Administrative Agent or such other account as may be designated in writing to Administrative Agent by Borrower.

Appears in 2 contracts

Samples: Credit and Guaranty Agreement (Digitalglobe, Inc.), Credit and Guaranty Agreement (Digitalglobe Inc)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d2.4(c), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum Dollar Equivalent amount of $5,000,000 500,000 and integral Dollar Equivalent multiples of $1,000,000 100,000 in excess of that amount, and Revolving Loans that are Eurodollar Eurocurrency Rate Loans shall be in an aggregate minimum Dollar Equivalent amount of $5,000,000 1,000,000 and integral Dollar Equivalent multiples of $1,000,000 100,000 in excess of that amount. (ii) Subject to Section 3.3(b3.2(b), whenever a Borrower desires that Lenders make Revolving Loans, such Borrower shall deliver to Administrative Agent a fully executed and delivered Funding Notice no later than 1:00 12:00 p.m. (New York City time) at least three Business Days (or at least four Business Days in the case of a Foreign Currency Loan not denominated in a Special Notice Currency or five Business Days in the case of a Foreign Currency Loan Denominated in a Special Notice Currency) in advance of the proposed Credit Date in the case of a Eurodollar Eurocurrency Rate Loan Loan, and no later than 12:00 Noon (New York City time) at least one Business Day in advance of the proposed Credit Date in the case of a Revolving Loan that is a Base Rate Loan. Except as otherwise provided herein, a Funding Notice for a Revolving Loan that is a Eurocurrency Rate Loan shall be irrevocable on and after the related Interest Rate Determination Date, and such Borrower shall be bound to make a borrowing in accordance therewith. (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent promptly to each applicable Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day as Administrative Agent’s receipt of such Notice from Borrowertelefacsimile. (iv) Each Lender shall make the amount of its Revolving Loan available to Administrative Agent not later than 12:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds Same Day Funds in Dollarsthe currency such Revolving Loan is to be made, at the Principal Office designated by Administrative AgentAgent not later than (x) 12:00 p.m. (New York City time) in the case of any Revolving Loan denominated in Dollars and (y) the Applicable Time specified by Administrative Agent in the case of any Revolving Loan denominated in a Foreign Currency. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Agent shall make the proceeds of such Revolving Loans available to the applicable Borrower on the applicable Credit Date by causing an amount of same day funds Same Day Funds in Dollars, the currency in which such Revolving Loan is to be made equal to the proceeds of all such Revolving Loans received by Administrative Agent from Lenders to be credited to the account of such Borrower at the Principal Office designated by Administrative Agent or such other account as may be designated in writing to Administrative Agent by such Borrower; provided, however, that if, on the Credit Date, there are L/C Borrowings outstanding, then the proceeds of such Revolving Loans, first, shall be applied to the payment in full of any such L/C Borrowings, and, second, shall be made available to the applicable Borrower as provided above.

Appears in 2 contracts

Samples: Credit and Guaranty Agreement (IMS Health Holdings, Inc.), Credit and Guaranty Agreement (IMS Health Holdings, Inc.)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 1,000,000 and integral multiples of $1,000,000 500,000 in excess of that amount, and Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 1,000,000 and integral multiples of $1,000,000 500,000 in excess of that amount. (ii) Subject to Section 3.3(b), whenever Whenever a Borrower desires that Lenders make Revolving Loans, such Borrower shall deliver to Administrative Agent a fully executed and delivered Funding Notice no later than 1:00 p.m. 10:00 a.m. (New York City timeLocal Time) at least three Business Days in advance of the proposed Credit Date in the case of a Eurodollar Rate Loan Loan, and at least one Business Day in advance of the proposed Credit Date in the case of a Revolving Loan that is a Base Rate Loan. Except as otherwise provided herein, a Funding Notice for a Revolving Loan that is a Eurodollar Rate Loan shall be irrevocable on and after the related Interest Rate Determination Date, and the requesting Borrower shall be bound to make a borrowing in accordance therewith. (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. 10:00 a.m. (New York City timeLocal Time)) not later than 2:00 p.m. (New York City timeLocal Time) on the same day as Administrative Agent’s receipt of such Notice from the requesting Borrower. (iv) Each Lender shall make the amount of its Revolving Loan available to Administrative Agent not later than 12:00 p.m. (New York City timeLocal Time) on the applicable Credit Date by wire transfer of same day funds in DollarsDollars or Euro, as applicable, at the Principal Office designated by Administrative Agent. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Agent shall make the proceeds of such Revolving Loans available to the requesting Borrower on the applicable Credit Date by causing an amount of same day funds in DollarsDollars or Euro, as applicable, equal to the proceeds of all such Revolving Loans received by Administrative Agent from Lenders to be credited to the account of the requesting Borrower at the Principal Office designated by Administrative Agent or such other account as may be designated in writing to Administrative Agent by the requesting Borrower.

Appears in 2 contracts

Samples: First Lien Credit and Guaranty Agreement (Arizona Chemical Ltd.), First Lien Credit and Guaranty Agreement (Arizona Chemical Ltd.)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount, Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount. (ii) Subject to Section 3.3(b), whenever Borrower desires that Lenders make Revolving Loans3.03, Borrower shall deliver to Administrative Agent a fully executed and delivered irrevocable Funding Notice no later than 1:00 p.m. 12:00 noon (New York City time) at least ), three Business Days prior to the applicable Credit Date in advance the case of Eurodollar Rate Loans and no later than 12:00 noon (New York City time), on the proposed Credit Date in the case of a Eurodollar Base Rate Loan and at least one Business Day in advance Loans. Promptly upon receipt by Administrative Agent of such Funding Notice, Administrative Agent shall notify each Revolving Lender of the proposed Credit Date in the case of a Revolving Loan that is a Base Rate Loanborrowing. (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day as Administrative Agent’s receipt of such Notice from Borrower. (ivii) Each Revolving Lender shall make the amount of its Revolving Loan available to Administrative Agent not later than 12:00 (A) in the case of Base Rate Loans, 2:00 p.m. (New York City time) on the applicable Credit Date and (B) in the case of Eurodollar Rate Loans, 12:00 noon (New York City time) on the applicable Credit Date, by wire transfer of same day funds in Dollars, at the Principal Office designated by Administrative Agent. Except as provided herein, upon Upon satisfaction or waiver of the conditions precedent specified herein, Administrative Agent shall make the proceeds of such the Revolving Loans available to Borrower on the applicable Credit Date by causing an amount of same day funds in Dollars, Dollars equal to the proceeds of all such Revolving Loans received by Administrative Agent from Revolving Lenders to be credited to the account of Borrower at the Principal Office designated by Administrative Agent Borrower in the applicable Funding Notice or to such other account as may be designated in writing to Administrative Agent by Borrower. (iii) Each borrowing of Revolving Loans shall be in an aggregate amount of $1,000,000 or a whole multiple of $500,000 in excess thereof; provided that a borrowing of Base Rate Loans may be in an aggregate amount that is equal to the entire unused balance of the total Revolving Commitments.

Appears in 2 contracts

Samples: Credit and Guaranty Agreement (Och-Ziff Capital Management Group LLC), Credit and Guaranty Agreement (Och-Ziff Capital Management Group LLC)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount, and Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount. (ii) Subject to Section 3.3(b), whenever Whenever Borrower desires that Lenders make Revolving Loans, Borrower shall deliver to Administrative Agent a fully executed and delivered Funding Notice no later than 1:00 p.m. 10:00 a.m. (New York City time) at least three Business Days in advance of the proposed Credit Date in the case of a Eurodollar Rate Loan Loan, and at least one Business Day in advance of the proposed Credit Date in the case of a Revolving Loan that is a Base Rate Loan. Except as otherwise provided herein, a Funding Notice for a Revolving Loan that is a Eurodollar Rate Loan shall be irrevocable on and after the related Interest Rate Determination Date, and Borrower shall be bound to make a borrowing in accordance therewith. (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. 10:00 a.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day as Administrative Agent’s receipt of such Notice from Borrower. (iv) Each Lender shall make the amount of its Revolving Loan available to Administrative Agent not later than 12:00 p.m. noon (New York City time) on the applicable Credit Date by wire transfer of same day funds in Dollars, at the Principal Office designated by Administrative Agent. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Agent shall make the proceeds of such Revolving Loans available to Borrower on the applicable Credit Date by causing an amount of same day funds in Dollars, Dollars equal to the proceeds of all such Revolving Loans received by Administrative Agent from Lenders to be credited to the account of Borrower at the Principal Office designated by Administrative Agent or such other account as may be designated in writing to Administrative Agent by Borrower.

Appears in 2 contracts

Samples: Credit and Guaranty Agreement (Hologic Inc), Credit and Guaranty Agreement (Hologic Inc)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount, Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount50,000. (ii) Subject to Section 3.3(b), whenever Borrower Whenever Company desires that Lenders make Revolving Loans, Borrower Company shall deliver to Administrative Agent, the Paying Agent and the Custodian a fully executed and delivered Funding Notice no later than 11:00 a.m. (New York City time) at least two (2) Business Days in advance of the proposed Credit Date; provided, that (x) the Company shall review such Funding Notice on the Business Day immediately preceding the proposed Credit Date and (y) if following such review it has determined that a Receivable would not qualify as an Eligible Receivable by virtue of clause (h) of the Eligibility Criteria not being satisfied then (1) such Receivable shall be deemed to be excluded from the Borrowing Base Certificate included in such Funding Notice (each, an “Original Borrowing Base Certificate”) (and any certification related thereto contained therein or in the Credit Documents) and (2) the Company shall deliver to Administrative Agent, the Custodian and the Paying Agent a revised Funding Notice no later than 1:00 p.m. (New York City time) at least three Business Days in advance of the proposed Credit Date in the case of a Eurodollar Rate Loan and at least one (1) Business Day in advance of the proposed Credit Date in and such revised Funding Notice (and the case corresponding Borrowing Base Certificate) (each, a “Replacement Borrowing Base Certificate”) shall be modified solely to make adjustments necessary to exclude any such Receivable that would not qualify as an Eligible Receivable by virtue of clause (h) of the Eligibility Criteria including any reductions due to any resulting Excess Concentration Amounts, if any. Each such Funding Notice shall be delivered with a Borrowing Base Certificate reflecting sufficient Revolving Loan that is Availability for the requested Revolving Loans and a Borrowing Base Rate LoanReport. (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day as Administrative Agent’s receipt of such Notice from Borrower. (iv) Each Lender shall make the amount of its Revolving Loan available to Administrative the Paying Agent not later than 12:00 1:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in Dollars, at and the Principal Office designated by Administrative Agent. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Paying Agent shall make remit such funds to the proceeds of such Revolving Loans available to Borrower on the applicable Credit Date Company not later than 3:00 p.m. (New York City time) by causing an amount wire transfer of same day funds in Dollars, equal to the proceeds of all such Revolving Loans received by Administrative Agent from Lenders to be credited Dollars to the account of Borrower at the Principal Office designated by Administrative Agent or such other account as may be Company designated in writing the related Funding Notice. (iv) Company may borrow Revolving Loans pursuant to Administrative Agent by Borrowerthis Section 2.1, purchase Eligible Receivables pursuant to Section 2.11(c)(vii)(C) and/or repay Revolving Loans pursuant to Section 2.11(c)(vii)(B) no more than three (3) times per week.

Appears in 2 contracts

Samples: Credit Agreement (On Deck Capital Inc), Credit Agreement (On Deck Capital Inc)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 1,000,000 and integral multiples of $1,000,000 in excess of that amount, and Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 1,000,000 and integral multiples of $1,000,000 in excess of that amount. (ii) Subject to Section 3.3(b), whenever Borrower Whenever Company desires that Lenders make Revolving Loans, Borrower Company shall deliver to Administrative Agent a fully executed and delivered Funding Notice no later than 1:00 p.m. 10:00 a.m. (New York City time) at least three Business Days in advance of the proposed Credit Date in the case of a Revolving Loan that is a Eurodollar Rate Loan Loan, and at least one Business Day in advance of the proposed Credit Date in the case of a Revolving Loan that is a Base Rate Loan. Except as otherwise provided herein, a Funding Notice for a Revolving Loan that is a Eurodollar Rate Loan shall be irrevocable on and after the related Interest Rate Determination Date, and Company shall be bound to make a borrowing in accordance therewith. (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. 10:00 a.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day as Administrative Agent’s receipt of such Notice from BorrowerCompany. (iv) Each Lender shall make the amount of its Revolving Loan available to Administrative Agent not later than 12:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in Dollars, at the Principal Office designated by Administrative Agent’s Principal Office. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Agent shall make the proceeds of such Revolving Loans available to Borrower Company on the applicable Credit Date by causing an amount of same day funds in Dollars, Dollars equal to the proceeds of all such Revolving Loans received by Administrative Agent from Lenders to be credited to the account of Borrower Company at the Administrative Agent’s Principal Office designated by Administrative Agent or such other account as may be designated in writing to Administrative Agent by BorrowerCompany.

Appears in 2 contracts

Samples: Credit and Guaranty Agreement (Kraton Polymers LLC), Credit and Guaranty Agreement (Kraton Polymers LLC)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d) and Section 2.3(b)(iv), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 1,000,000 and integral multiples of $1,000,000 500,000 in excess of that amount, and Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 1,000,000 and integral multiples of $1,000,000 500,000 in excess of that amount. (ii) Subject to Section 3.3(b), whenever Borrower Whenever Company desires that Lenders make Revolving Loans, Borrower Company shall deliver to Administrative Agent a fully executed and delivered Funding Notice no later than 1:00 p.m. 10:00 a.m. (New York City time) at least three Business Days in advance of the proposed Credit Date in the case of a Eurodollar Rate Loan Loan, and at least one Business Day in advance of the proposed Credit Date in the case of a Revolving Loan that is a Base Rate Loan. (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. 10:00 a.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day as Administrative Agent’s receipt of such Notice from BorrowerCompany. (iv) Each Lender shall make the amount of its Revolving Loan available to Administrative Agent not later than 12:00 2:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in Dollars, at the Principal Office designated by Administrative Agent. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Agent shall make the proceeds of such Revolving Loans available to Borrower Company on the applicable Credit Date by causing an amount of same day funds in Dollars, Dollars equal to the proceeds of all such Revolving Loans received by Administrative Agent from Lenders to be credited to the account of Borrower Company at the Principal Office designated by Administrative Agent or such other account as may be designated in writing to Administrative Agent by BorrowerCompany.

Appears in 2 contracts

Samples: Second Amendment (DynCorp International Inc), Credit and Guaranty Agreement (Services International LLC)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d), Each Revolving Loans that are Base Rate Loans Loan shall be made in an aggregate minimum amount as part of $5,000,000 and integral multiples a Borrowing consisting of $1,000,000 in excess Loans of that amount, the same Type made by each Revolving Loans that are Lender proportionately to its Pro Rata Share. At the commencement of each Interest Period for any Eurodollar Rate Loans Revolving Borrowing, such Borrowing shall be in an aggregate minimum amount of $5,000,000 100,000 and integral multiples of $1,000,000 100,000 in excess of such amount; provided that a Eurodollar Rate Revolving Borrowing that results from a continuation of an outstanding Eurodollar Rate Revolving Borrowing may be in an aggregate amount that is equal to such outstanding Borrowing. At the time each Base Rate Revolving Borrowing is made, such Borrowing shall be in an aggregate minimum amount of $100,000 and integral multiples of $100,000 in excess of such amount; provided that such Borrowing may be in an aggregate amount that is equal to the entire unused balance of the total Revolving Commitments in effect at such time or that is required to finance the reimbursement of a drawing under a Letter of Credit as contemplated by Section 2.3(d). (ii) Subject to Section 3.3(b)To request a Revolving Borrowing, whenever Borrower desires that Lenders make Revolving Loans, the Borrower shall deliver to the Administrative Agent a fully completed and executed and delivered Funding Notice no (A) in the case of a Eurodollar Rate Borrowing, not later than 1:00 p.m. (New York City time) at least three Business Days in advance of the proposed Credit Date and (B) in the case of a Eurodollar Rate Loan and at least one Business Day in advance of the proposed Credit Date in the case of a Revolving Loan that is a Base Rate Loan. (iii) Notice of receipt of each Funding Notice in respect of Revolving LoansBorrowing, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. (New York City time)) not later than 2:00 p.m. 12:00 noon (New York City time) on the same day as proposed Credit Date (which shall be a Business Day). In lieu of delivering a Funding Notice, the Borrower may give the Administrative Agent’s Agent telephonic notice by the required time of any proposed Revolving Borrowing; provided that such telephonic notice shall be promptly confirmed in writing by delivery to the Administrative Agent of a fully completed and executed Funding Notice. In the event of any discrepancy between the telephonic notice and the written Funding Notice, the written Funding Notice shall govern and control. Promptly upon receipt by the Administrative Agent of a Funding Notice in accordance with this paragraph, the Administrative Agent shall notify each Revolving Lender of the details thereof and of the amount of such Lender’s Revolving Loan to be made as part of the requested Revolving Borrowing. Except as otherwise provided herein, a Funding Notice from Borrowerfor a Eurodollar Rate Revolving Borrowing shall be irrevocable on and after the related Interest Rate Determination Date, and the Borrower shall be bound to make a borrowing in accordance therewith. (iviii) Each Lender shall make the principal amount of its Revolving Loan required to be made by it hereunder on any Credit Date available to the Administrative Agent not later than 12:00 3:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in Dollars, at the Principal Office designated by Administrative Agent. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Agent shall make the proceeds of such Revolving Loans available to Borrower on the applicable Credit Date by causing an amount of same day funds in Dollars, equal to the proceeds of all such Revolving Loans received by Administrative Agent from Lenders to be credited Dollars to the account of Borrower at the Principal Office Administrative Agent most recently designated by it for such purpose by notice to the Lenders. The Administrative Agent or will make available each such other Revolving Loan available to the Borrower by promptly remitting the amounts so received, in like funds, to an account as may be designated of the Borrower specified by the Borrower in writing to Administrative Agent by Borrowerthe applicable Funding Notice.

Appears in 2 contracts

Samples: Credit and Guaranty Agreement (CVR Energy Inc), Credit and Guaranty Agreement (CVR Partners, Lp)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant Subject to Section 2.4(d), 4.01(a)(i) in the case of Borrowings of Revolving Loans that are Base Rate on the Closing Date only and Section 4.02(c) in the case of each other Borrowing of Revolving Loans, each Borrowing of Revolving Loans shall be made upon the Borrower’s irrevocable notice to the Administrative Agent, which may only be given in an aggregate minimum amount writing (each request for a Swing Line Loan Borrowing shall be made in accordance with Section 2.03). Each such notice must be received by the Administrative Agent not later than (A) 1:00 p.m. three Business Days prior to the requested date of $5,000,000 any Borrowing of Eurodollar Rate Loans, and integral multiples (B) 12:00 noon one Business Day prior to the requested date of $1,000,000 any Borrowing of Base Rate Loans. Each notice by the Borrower pursuant to this Section 2.02(b) must be delivered to the Administrative Agent in excess the form of that amounta Committed Loan Notice, Revolving Loans that are appropriately completed and signed by a Responsible Officer of the Borrower. Each Borrowing of Eurodollar Rate Loans shall be in an aggregate minimum a principal amount of $5,000,000 and integral multiples 500,000 or a whole multiple of $1,000,000 100,000 in excess thereof in the case of that amountEurodollar Rate Loans. Each Borrowing of Base Rate Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof. Each Committed Loan Notice shall specify (1) the requested date of the Borrowing (which shall be a Business Day), (2) the principal amount of Revolving Loans to be borrowed, (3) the Type of Revolving Loans to be borrowed and (4) if applicable, the duration of the Interest Period with respect thereto. Each Swing Line Loan shall be denominated in Dollars and constitute a Base Rate Loan. If the Borrower fails to specify a Type of Revolving Loan in a Committed Loan Notice, then in the case of Revolving Loans, the applicable Revolving Loans shall be made as Base Rate Loans. If the Borrower requests a Borrowing of Eurodollar Rate Loans in any such Committed Loan Notice, but fails to specify an Interest Period for such Eurodollar Rate Loans, the Borrower will be deemed to have specified an Interest Period of one month. (ii) Subject to Section 3.3(b)Following receipt of a Committed Loan Notice, whenever Borrower desires that Lenders make the Administrative Agent shall promptly notify each Lender of the amount of its Pro Rata Share of the applicable Revolving Loans, Borrower shall deliver to Administrative Agent a fully executed and delivered Funding Notice no later than 1:00 p.m. (New York City time) at least three Business Days in advance of the proposed Credit Date in . In the case of a Eurodollar Rate Loan and at least one Business Day in advance of the proposed Credit Date in the case of a Revolving Loan that is a Base Rate Loan. (iii) Notice of receipt of each Funding Notice in respect of Revolving LoansBorrowing, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day as Administrative Agent’s receipt of such Notice from Borrower. (iv) Each Appropriate Lender shall make the amount of its Revolving Loan available to the Administrative Agent in Same Day Funds at the Administrative Agent’s Office not later than 12:00 p.m. (New York City time) 1:00 p.m., on the Business Day specified in the applicable Credit Date by wire transfer of same day funds in Dollars, at the Principal Office designated by Administrative AgentCommitted Loan Notice. Except as provided herein, upon Upon satisfaction or waiver of the applicable conditions precedent specified hereinset forth in Section 4.02 (or if such Borrowing is on the Closing Date, Section 4.01), the Administrative Agent shall make all funds so received available to the Borrower in like funds as received by the Administrative Agent either by (A) crediting the account of the Borrower on the books of the Administrative Agent with the amount of such funds or (B) wire transfer of such funds, in each case in accordance with instructions provided to (and reasonably acceptable to) the Administrative Agent by the Borrower; provided, however, that if, on the date the Committed Loan Notice with respect to such Borrowing is given by the Borrower, there are Swing Line Loans outstanding or Reimbursement Obligations outstanding, then the proceeds of such Borrowing shall be applied, first, to the payment in full of any such Reimbursement Obligations, second, to the payment in full of any such Swing Line Loans and third, to the Borrower as provided above. (iii) The failure of any Lender to make the Revolving Loans available Loan to Borrower be made by it as part of any Borrowing shall not relieve any other Lender of its obligation, if any, hereunder to make its Revolving Loan on the applicable Credit Date by causing an amount date of same day funds in Dollarssuch Borrowing, equal but no Lender shall be responsible for the failure of any other Lender to make the proceeds of all such Revolving Loans received by Administrative Agent from Lenders Loan to be credited to the account of Borrower at the Principal Office designated made by Administrative Agent or such other account as may be designated in writing to Administrative Agent by BorrowerLender on the date of any Borrowing.

Appears in 2 contracts

Samples: First Lien Credit Agreement (WCG Clinical, Inc.), First Lien Credit Agreement (WCG Clinical, Inc.)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d2.02(h) or 2.02(l)(vi), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount, Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 2,500,000 and integral multiples of $1,000,000 in excess of that amount. (ii) Subject to Section 3.3(b), whenever Whenever the Borrower desires that Lenders make Revolving Loans, the Borrower shall deliver to the Administrative Agent a fully executed and delivered Funding Loan Notice no later than 1:00 p.m. 10:00 a.m. (New York City time) (A) in the case of a Eurodollar Rate Loan, at least three (3) Business Days in advance of the proposed Credit Date Borrowing Date, (B) in the case of a Eurodollar one or more Base Rate Loan and Loans in an aggregate principal amount greater than $100,000,000, at least one (1) Business Day in advance of the proposed Credit Date Borrowing Date, and (C) in the case of one or more Base Rate Loans in an aggregate principal amount equal to or less than $100,000,000, on the proposed Borrowing Date; provided that, if such Borrowing Date is the Restatement Effective Date, such Loan Notice may be delivered within such period shorter than three (3) Business Days as may be agreed by the Administrative Agent with respect to Eurodollar Rate Loans. Except as otherwise provided herein, a Loan Notice for a Revolving Loan that is a Base Eurodollar Rate LoanLoan shall be irrevocable on and after the related Interest Rate Determination Date. (iii) Notice of receipt of each Funding Loan Notice in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by the Administrative Agent to each applicable Lender by telefacsimile facsimile or other electronic communication with reasonable promptness, but (provided that the Administrative Agent shall have received such notice by 1:00 p.m. 10:00 a.m. (New York City time)) not later than 2:00 3:00 p.m. (New York City time) (or, in the case of a Loan Notice delivered pursuant to Section 2.01(b)(ii)(C), 12:00 noon (New York City time)) on the same day as the Administrative Agent’s receipt of such Loan Notice from the Borrower. (iv) Each Lender shall make the amount of its Revolving Loan available to the Administrative Agent not later than 12:00 noon (New York City time) (or, in the case of Base Rate Loans with respect to which a Loan Notice is delivered pursuant to Section 2.01(b)(ii)(C), 2:00 p.m. (New York City time)) on the applicable Credit Borrowing Date by wire transfer of same day funds in Dollars, at the Principal Office designated by Administrative Agent’s Office. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, the Administrative Agent shall make the proceeds of such Revolving Loans available to the Borrower on the applicable Credit Borrowing Date by causing an amount of same day funds in Dollars, Dollars equal to the proceeds of all such Revolving Loans received by the Administrative Agent from Lenders to be credited to the account of the Borrower at the Principal Administrative Agent’s Office designated by Administrative Agent or to such other account or accounts as may be designated in writing to the Administrative Agent by the Borrower.

Appears in 2 contracts

Samples: Credit Agreement (KKR & Co. Inc.), Credit Agreement (KKR & Co. Inc.)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d), Each Revolving Loans that are Base Rate Loans Loan shall be made in an aggregate minimum amount as part of $5,000,000 and integral multiples a Borrowing consisting of $1,000,000 in excess Loans of that amount, the same Type made by the Revolving Loans that are Lenders proportionately to their respective Pro Rata Shares. At the commencement of each Interest Period for any Eurodollar Rate Loans Revolving Borrowing, such Borrowing shall be in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 100,000 in excess of such amount; provided that a Eurodollar Rate Revolving Borrowing that results from a continuation of an outstanding Eurodollar Rate Revolving Borrowing may be in an aggregate amount that is equal to such outstanding Borrowing. Subject to Section 2.3(d), at the time each Base Rate Revolving Borrowing is made, such Borrowing shall be in an aggregate minimum amount of $1,000,000 and integral multiples of $100,000 in excess of such amount; provided that such Borrowing may be in an aggregate amount that is equal to the entire unused balance of the total Revolving Commitments in effect at such time. (ii) Subject to Section 3.3(b)To request a Revolving Borrowing, whenever Borrower desires that Lenders make Revolving Loans, the Borrower shall deliver to the Administrative Agent a fully completed and executed and delivered Funding Notice no (A) in the case of a Eurodollar Rate Borrowing, not later than 1:00 p.m. 12:00 noon (New York City time) at least three Business Days in advance of the proposed Credit Date and (B) in the case of a Eurodollar Base Rate Loan and Borrowing, not later than 12:00 noon (New York City time) at least one Business Day in advance of the proposed Credit Date Date. In lieu of delivering a Funding Notice, the Borrower may give the Administrative Agent telephonic notice by the required time of any proposed Revolving Borrowing; provided that such telephonic notice shall be promptly confirmed in the case writing by delivery of a Revolving Loan fully completed and executed Funding Notice to the Administrative Agent on or before the close of business on the date that such telephonic notice is given. In the event of any discrepancy between the telephonic notice and the written Funding Notice, the written Funding Notice shall govern. Promptly upon receipt by the Administrative Agent of a Base Rate Loan. (iii) Notice of receipt of each Funding Notice in respect accordance with this paragraph, the Administrative Agent shall notify each Revolving Lender of Revolving Loans, together with the details thereof and of the amount of each such Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day as Administrative Agent’s receipt of such Notice from Borrower. (iv) Each Lender shall make the amount of its Revolving Loan available to Administrative Agent not later than 12:00 p.m. (New York City time) on be made as part of the applicable Credit Date by wire transfer of same day funds in Dollars, at the Principal Office designated by Administrative Agentrequested Revolving Borrowing. Except as otherwise provided herein, upon satisfaction or waiver of a Funding Notice for a Eurodollar Rate Revolving Borrowing shall be irrevocable on and after the conditions precedent specified hereinrelated Interest Rate Determination Date, Administrative Agent and the Borrower shall be bound to make the proceeds of such Revolving Loans available to Borrower on the applicable Credit Date by causing an amount of same day funds a borrowing in Dollars, equal to the proceeds of all such Revolving Loans received by Administrative Agent from Lenders to be credited to the account of Borrower at the Principal Office designated by Administrative Agent or such other account as may be designated in writing to Administrative Agent by Borroweraccordance therewith.

Appears in 2 contracts

Samples: Credit and Guarantee Agreement (Telx Group, Inc.), Credit and Guarantee Agreement (Telx Group, Inc.)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d), Revolving Loans that are Base Rate ABR Loans shall be made in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount, and Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount. (ii) Subject to Section 3.3(b), whenever Whenever a Borrower desires that Lenders make Revolving Loans, the applicable Borrower shall deliver to Administrative Agent a fully Funding Notice, duly executed and delivered Funding Notice by a Senior Officer of each of the Borrowers, no later than 1:00 2:00 p.m. (New York City time) at least three (3) Business Days in advance of the proposed Credit Date in the case of a Eurodollar Rate Loan Loan, and at least one Business Day in advance of the proposed Credit Date in the case of a Revolving Loan that is an ABR Loan. Except as otherwise provided herein, a Base Funding Notice for a Revolving Loan that is a Eurodollar Rate LoanLoan shall be irrevocable on and after the related Interest Rate Determination Date, and Borrowers shall be bound to make a borrowing in accordance therewith. On the Revolver Post-Closing Availability Date, Revolving Loans shall be made as ABR Loans. (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Lender’s 's Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided that Administrative Agent shall have received such notice by 1:00 p.m. 11:00 a.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day as Administrative Agent’s 's receipt of such Notice from the applicable Borrower. (iv) Each Lender shall make the amount of its Revolving Loan available to Administrative Agent not later than 12:00 1:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in Dollars, at the Principal Office designated by Administrative Agent. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Agent shall make the proceeds of such Revolving Loans available to the applicable Borrower by 3:00 p.m. (New York City time) on the applicable Credit Date by causing an amount of same day funds in Dollars, Dollars equal to the proceeds of all such Revolving Loans received by Administrative Agent from Lenders to be credited to the account of the applicable Borrower at the Principal Office designated by Administrative Agent or such other account as may be designated in writing to Administrative Agent by Borrowerthe applicable Borrower with reasonable promptness on the applicable Credit Date.

Appears in 2 contracts

Samples: Credit Agreement, Superpriority Debtor in Possession Credit and Guaranty Agreement

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 the Borrowing Minimum and integral multiples of $1,000,000 in excess of that amount, Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 the Borrowing Multiple in excess of that amount. (ii) Subject to Section 3.3(b), whenever Whenever the Borrower desires that Lenders make Revolving Loans, the Borrower shall deliver to the Administrative Agent a fully executed and delivered Funding Notice no later than 1:00 p.m. 11:00 a.m. (New York City time) (A) at least three Business Days in advance of the proposed Credit Date (which shall be a Business Day) in the case of a Eurodollar Eurocurrency Rate Loan and or (B) at least one Business Day in advance of the proposed Credit Date (which shall be a Business Day) in the case of a Revolving Loan that is a Base Rate Loan. Except as otherwise provided herein, a Funding Notice for a Revolving Loan that is a Eurocurrency Rate Loan shall be irrevocable on and after the related Interest Rate Determination Date, and the requesting Borrower shall be bound to make a borrowing in accordance therewith. (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by the Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided the Administrative Agent shall have received such notice by 1:00 p.m. 10:00 a.m. (New York City time)) not later than 2:00 3:00 p.m. (New York City time) on the same day as the Administrative Agent’s receipt of such Funding Notice from the Borrower, unless the date on which the Funding Notice is received is the Credit Date, in which case by 12:00 p.m. (New York City time); provided, however, that if, on the date the Funding Notice with respect to such Revolving Loans is given by the Borrower, there are L/C Borrowings or Swing Line Loans outstanding, then the proceeds of such Revolving Loan, first, shall be applicable to the payment in full of any such L/C Borrowing and Swing Line Loans and second, shall be made available to the Borrower. (iv) Each Lender shall make the amount of its Revolving Loan available to Administrative Agent not later than 12:00 2:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds Same Day Funds in Dollars, Dollars at the Principal Office designated by of the Administrative Agent. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, the Administrative Agent shall make the proceeds of such Revolving Loans available to the Borrower on the applicable Credit Date by causing an amount of same day funds Same Day Funds in Dollars, Dollars equal to the proceeds of all such Revolving Loans received by the Administrative Agent from Lenders to be credited to the account of the Borrower at the Principal Office designated by the Administrative Agent or such other account as may be designated in writing to the Administrative Agent by the Borrower.

Appears in 2 contracts

Samples: Credit and Guaranty Agreement (Lannett Co Inc), Credit and Guaranty Agreement (Lannett Co Inc)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d2.3(d), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 500,000 and integral multiples of $1,000,000 100,000 in excess of that amount, and Revolving Loans that are Eurodollar LIBOR Rate Loans shall be in an aggregate minimum amount of $5,000,000 500,000 and integral multiples of $1,000,000 100,000 in excess of that amount. (ii) Subject to Section 3.3(b), whenever Borrower desires Whenever Companies desire that Lenders make Revolving Loans, Borrower the Company Representative shall deliver to Administrative Agent a fully executed and delivered Funding Notice no later than 1:00 p.m. 10:00 a.m. (New York City time) at least three Business Days in advance of the proposed Credit Date in the case of a Eurodollar LIBOR Rate Loan Loan, and at least one Business Day in advance of the proposed Credit Date in the case of a Revolving Loan that is a Base Rate Loan. Except as otherwise provided herein, a Funding Notice for a Revolving Loan that is a LIBOR Rate Loan shall be irrevocable on and after the related Interest Rate Determination Date, and the Companies shall be bound to make a borrowing in accordance therewith. (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. 10:00 a.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day as Administrative Agent’s receipt of such Funding Notice from Borrowerthe Company Representative. (iv) Each Lender shall make the amount of its Revolving Loan available to Administrative Agent not later than 12:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in Dollars, at the Principal Office designated by Administrative Agent’s Principal Office. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Agent shall make the proceeds of such Revolving Loans available to Borrower the Companies on the applicable Credit Date by causing an amount of same day funds in Dollars, Dollars equal to the proceeds of all such Revolving Loans received by Administrative Agent from Lenders to be credited to the account of Borrower the Company Representative at the Administrative Agent’s Principal Office designated by Administrative Agent or such other account as may be designated in writing to Administrative Agent by Borrowerthe Company Representative.

Appears in 2 contracts

Samples: Credit and Guaranty Agreement (Meridian Waste Solutions, Inc.), Credit and Guaranty Agreement (Meridian Waste Solutions, Inc.)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 1,000,000 and integral multiples of $1,000,000 500,000 in excess of that amount, and Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 1,000,000 and integral multiples of $1,000,000 500,000 in excess of that amount. (ii) Subject to Section 3.3(b), whenever Whenever a Borrower desires that Lenders make Revolving Loans, such Borrower shall deliver give notice to Administrative Agent a fully executed and delivered Funding Notice Agent, which may be given by telephone, no later than 1:00 12:00 p.m. (New York City time) at least three Business Days in advance of the proposed Credit Date in the case of a Eurodollar Rate Loan Loan, and at least one Business Day in advance of the proposed Credit Date in the case of a Revolving Loan that is a Base Rate Loan. Except as otherwise provided herein, a notice for a Revolving Loan that is a Eurodollar Rate Loan shall be irrevocable on and after the related Interest Rate Determination Date, and the relevant Borrower shall be bound to make a borrowing in accordance therewith. Each telephonic notice by a Borrower pursuant to this Section 2.2(b) must be confirmed promptly by delivery to Administrative Agent of a fully executed Funding Notice. Neither Administrative Agent nor any Lender shall incur any liability to any Borrower in acting upon any telephonic notice referred to above that Administrative Agent believes in good faith to have been given by a Responsible Officer or other person authorized to borrow on behalf of such Borrower or for otherwise acting in good faith under this Section 2.2(b), and upon funding of Loans by Lenders in accordance with this Agreement pursuant to any such telephonic notice a Borrower shall have effected Loans hereunder. (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share Revolving Percentage thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day as Administrative Agent’s receipt of such Notice from Borrower. (iv) Each Lender shall make the amount of its Revolving Loan available to Administrative Agent not later than 12:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in Dollars, at the Principal Office designated by Administrative Agent. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Agent shall make the proceeds of such Revolving Loans available to the relevant Borrower on the applicable Credit Date by causing an amount of same day funds in Dollars, Dollars equal to the proceeds of all such Revolving Loans received by Administrative Agent from Lenders to be credited to the account of such Borrower at the Principal Office designated by Administrative Agent or such other account as may be designated in writing to Administrative Agent by such Borrower.

Appears in 2 contracts

Samples: Amendment Agreement (Education Management Corporation), Credit Agreement (Education Management Corporation)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 500,000 and integral multiples of $1,000,000 100,000 in excess of that amount, and Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 1,000,000 and integral multiples of $1,000,000 250,000 in excess of that amount. (ii) Subject to Section 3.3(b), whenever Borrower Whenever Company desires that Lenders make Revolving Loans, Borrower Company shall deliver to Administrative Agent a fully executed and delivered Funding Notice no later than 1:00 p.m. 10:00 a.m. (New York City time) at least three Business Days in advance of the proposed Credit Date in the case of a Eurodollar Rate Loan Loan, and at least one Business Day in advance of the proposed Credit Date in the case of a Revolving Loan that is a Base Rate Loan. Except as otherwise provided herein, a Funding Notice for a Revolving Loan that is a Eurodollar Rate Loan shall be irrevocable on and after the related Interest Rate Determination Date, and Company shall be bound to make a borrowing in accordance therewith. (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. 10:00 a.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day as Administrative Agent’s receipt of such Notice from BorrowerCompany. (iv) Each Lender shall make the amount of its Revolving Loan available to Administrative Agent not later than 12:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in Dollars, at the Principal Office designated by Administrative Agent. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Agent shall make the proceeds of such Revolving Loans available to Borrower Company on the applicable Credit Date by causing an amount of same day funds in Dollars, Dollars equal to the proceeds of all such Revolving Loans received by Administrative Agent from Lenders to be credited to the account of Borrower Company at the Principal Office designated by Administrative Agent or such other account as may be designated in writing to Administrative Agent by BorrowerCompany.

Appears in 2 contracts

Samples: Credit and Guaranty Agreement (Telvent Git S A), First Lien Credit and Guaranty Agreement (Telvent Git S A)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d2.03(4), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 500,000 and integral multiples of $1,000,000 100,000 in excess of that amount, and Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 500,000 and integral multiples of $1,000,000 100,000 in excess of that amount; provided that such Revolving Loans may be in an aggregate amount that is equal to the entire unused balance of the Maximum Credit or that is required to finance the reimbursement of a drawing under a Letter of Credit as contemplated by Section 2.03(4). (ii) Subject to Section 3.3(b)4.02, whenever Borrower desires that Lenders make Revolving Loans, Borrower shall deliver to Administrative Agent a fully executed and delivered Funding Notice no later than 1:00 p.m. 10:00 a.m. (New York City time) at least three Business Days in advance of the proposed Credit Date in the case of a Eurodollar Rate Loan Loan, and at least one Business Day in advance of the proposed Credit Date in the case of a Revolving Loan that is a Base Rate Loan; provided that, if such Credit Date is the Closing Date, such Funding Notice may be delivered on the Closing Date with respect to Base Rate Loans and such period shorter than three Business Days as may be agreed by all Lenders with respect to Eurodollar Rate Loans. Except as otherwise provided herein, a Funding Notice for a Revolving Loan that is a Eurodollar Rate Loan shall be irrevocable on and after the related Interest Rate Determination Date, and the Borrower shall be bound to make a borrowing in accordance therewith. (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. 10:00 a.m. (New York City time)) not later than 2:00 3:00 p.m. (New York City time) on the same day as Administrative Agent’s receipt of such Notice from Borrower. (iv) Each Lender shall make the amount of its Revolving Loan available to Administrative Agent not later than 12:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in Dollars, at the Principal Office designated by of Administrative Agent. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Agent shall make the proceeds of such Revolving Loans available to Borrower on the applicable Credit Date by causing an amount of same day funds in Dollars, Dollars equal to the proceeds of all such Revolving Loans received by Administrative Agent from Lenders to be credited to the account of Borrower at the Principal Office designated by Administrative Agent or such other account as may be designated in writing to Administrative Agent by Borrower.

Appears in 2 contracts

Samples: Abl Credit Agreement (United States Steel Corp), Abl Credit Agreement (United States Steel Corp)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d), Domestic Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 1,000,000 and integral multiples of $1,000,000 500,000 in excess of that amount, and European Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 €1,000,000 and integral multiples of $1,000,000 in excess of that amount€500,000. (ii) Subject to Section 3.3(b), whenever Whenever (a) Borrower desires that Lenders make Revolving Loans, such Borrower shall deliver to the Administrative Agent a fully executed and delivered Funding Notice no later than 1:00 p.m. (New York City timea) 10:00 a.m. (Local Time) at least three Business Days in advance of the proposed Credit Date in the case of a Eurodollar Rate Loan European Revolving Loan, and at least one Business Day in advance of (b) 10:00 a.m. (New York City time) on the proposed Credit Date in the case of a Domestic Revolving Loan; provided that, notwithstanding the foregoing, three Business Days prior notice shall be required with respect to a Eurodollar Rate Loan. Except as otherwise provided herein, a Funding Notice for a European Revolving Loan that is shall be irrevocable on and after the related Interest Rate Determination Date and the applicable Borrower shall be bound to make a Base Rate Loanborrowing in accordance therewith. (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by the Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided the Administrative Agent shall have received such notice by 1:00 p.m. 10:00 a.m. (New York City timeLocal Time)) not later than 2:00 p.m. (New York City timeLocal Time) on the same day as the Administrative Agent’s receipt of such Funding Notice from the applicable Borrower. (iv) Each Lender shall make the amount of its Revolving Loan available to the Administrative Agent not later than 12:00 p.m. (New York City timeLocal Time) on the applicable Credit Date by wire transfer of same day funds in DollarsDollars or Euro, as applicable, at the Principal Office designated by the Administrative Agent. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, the Administrative Agent shall make the proceeds of such Revolving Loans available to the applicable Borrower on the applicable Credit Date by causing an amount of same day funds in DollarsDollars or Euro, as applicable, equal to the proceeds of all such Revolving Loans received by the Administrative Agent from Lenders to be credited to the account of the applicable Borrower at the Principal Office designated by the Administrative Agent or such other account as may be designated in writing to the Administrative Agent by the applicable Borrower.

Appears in 1 contract

Samples: First Lien Credit and Guaranty Agreement (Solera Holdings, Inc)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum principal amount of $5,000,000 not less than the Borrowing Minimum and integral multiples of $1,000,000 in excess of that amount, Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 the Borrowing Multiple in excess of that amount. (ii) Subject to Section 3.3(b3.2(b), whenever Borrower desires that Lenders make Revolving Loans, Borrower shall deliver to Administrative Agent a fully executed and delivered Funding Notice no later than 1:00 p.m. (New York City timea) 11:00 a.m. (Local Time) at least three Business Days in advance of the proposed Credit Date in the case of a Eurodollar Eurocurrency Rate Loan, (b) 10:00 a.m. (Local Time) on the proposed Credit Date in the case of a Base Rate Loan and (c) 11:00 a.m. (Local Time) at least one Business Day in advance of the proposed Credit Date in the case of a Revolving Loan that CPR Loan; provided that, if such Credit Date is a Base the Closing Date, such Funding Notice may be delivered on the Closing Date prior to 10:00 a.m. (Local Time) with respect to CPR Loans and such period shorter than three Business Days as may be agreed by Administrative Agent with respect to Eurocurrency Rate LoanLoans. (iii) Notice of Promptly following receipt of each a Funding Notice in respect of Revolving Loans, together with Administrative Agent shall advise each Lender of the details thereof and the amount of each such Lender’s Pro Rata Share thereofof the requested borrowing, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day as Administrative Agent’s receipt of such Notice from Borrower. (iv) Each Lender shall make the amount of its Revolving Loan available to Administrative Agent not later than 12:00 p.m. (New York City timeLocal Time) on the applicable Credit Date by wire transfer of same day funds in Dollarsthe applicable currency of such Revolving Loan, at as designated in the Principal Office applicable Funding Notice, to the account of Administrative Agent most recently designated by Administrative Agentit for such purpose by notice to the Lenders. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Agent shall make the proceeds of such Revolving Loans received from the Lenders available to Borrower on the applicable Credit Date by causing an amount of same day funds in Dollarsthe applicable currency of such Revolving Loan, as designated in such Funding Notice, equal to the proceeds of all such Revolving Loans received by Administrative Agent from Lenders to be credited to the account of Borrower at the Principal Office designated by Administrative Agent or such other account as may be designated in writing to Administrative Agent by Borrower. (v) Notwithstanding anything herein to the contrary, each borrowing of Revolving Loans hereunder that is denominated in (A) Dollars shall be comprised entirely of Base Rate Loans or Eurocurrency Rate Loans, (B) Canadian Dollars shall be comprised entirely of CPR Loans or Eurocurrency Rate Loans and (C) any Alternative Currency (other than Canadian Dollars) shall be comprised entirely of Eurocurrency Rate Loans.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (TerraForm Power, Inc.)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount, Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount50,000. (ii) Subject to Section 3.3(b), whenever Borrower Whenever Company desires that Lenders make Revolving Loans, Borrower Company shall deliver to Administrative Agent, the Paying Agent and the Custodian a fully executed and delivered Funding Notice no later than 11:00 a.m. (New York City time) at least two (2) Business Days in advance of the proposed Credit Date; provided, that (x) the Company shall review such Funding Notice on the Business Day immediately preceding the proposed Credit Date and (y) if following such review it has determined that a Receivable would not qualify as an Eligible Receivable by virtue of clause (h) of the Eligibility Criteria not being satisfied then (1) such Receivable shall be deemed to be excluded from the Borrowing Base Certificate included in such Funding Notice (each, an “Original Borrowing Base Certificate”) (and any certification related thereto contained therein or in the Credit Documents) and (2) the Company shall deliver to Administrative Agent, the Custodian and the Paying Agent a revised Funding Notice no later than 1:00 p.m. (New York City time) at least three Business Days in advance of the proposed Credit Date in the case of a Eurodollar Rate Loan and at least one (1) Business Day in advance of the proposed Credit Date in and such revised Funding Notice (and the case corresponding Borrowing Base Certificate) (each, a “Replacement Borrowing Base Certificate”) shall be modified solely to make adjustments necessary to exclude any such Receivable that would not qualify as an Eligible Receivable by virtue of clause (h) of the Eligibility Criteria including any reductions due to any resulting Excess Concentration Amounts, if any. Each such Funding Notice shall be delivered with a Borrowing Base Certificate reflecting sufficient Revolving Loan that is Availability for the requested Revolving Loans and a Borrowing Base Rate LoanReport. (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day as Administrative Agent’s receipt of such Notice from Borrower. (iv) Each Lender shall may, subject to the last sentence of Section 2.1(a), in its sole and absolute discretion, make the amount of its Revolving Loan available to Administrative the Paying Agent not later than 12:00 1:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in Dollars, at and the Principal Office designated by Administrative Agent. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Paying Agent shall make remit such funds to the proceeds of such Revolving Loans available to Borrower on the applicable Credit Date Company not later than 3:00 p.m. (New York City time) by causing an amount wire transfer of same day funds in Dollars, equal to the proceeds of all such Revolving Loans received by Administrative Agent from Lenders to be credited Dollars to the account of Borrower at the Principal Office designated by Administrative Agent or such other account as may be Company designated in writing the related Funding Notice. (iv) Company may borrow Revolving Loans pursuant to Administrative Agent by Borrowerthis Section 2.1, purchase Eligible Receivables pursuant to Section 2.11(c)(vii)(C) and/or repay Revolving Loans pursuant to Section 2.11(c)(vii)(B) no more than three (3) times per week.

Appears in 1 contract

Samples: Credit Agreement (On Deck Capital Inc)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant Subject to Section 2.4(d), 4.01(a)(i) in the case of Borrowings of Revolving Loans that are Base Rate on the Closing Date only and Section 4.02(c) in the case of each other Borrowing of Revolving Loans, each Borrowing of Revolving Loans shall be made upon the US Borrower’s irrevocable notice to the AdministrativeRevolving Agent, which may only be given in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount, Revolving Loans that are Eurodollar Rate Loans writing (each request for a Swing Line Loan Borrowing shall be made in an aggregate minimum amount accordance with Section 2.03). Each such notice must be received by the AdministrativeRevolving Agent not later than (A) 1:00 p.m10:00 a.m. three Business Days prior to the requested date of $5,000,000 and integral multiples any Borrowing of $1,000,000 in excess Term SOFR Loans or CDOR, (B) 10:00 a.m. four Business Days prior to the requested date of that amount.any Borrowing of Term XXXXX Rate (ii) Subject to Section 3.3(b)Following receipt of a Committed Loan Notice, whenever Borrower desires that Lenders make the AdministrativeRevolving Agent shall promptly notify each Lender of the amount of its Pro Rata Share of the applicable Revolving Loans, Borrower shall deliver to Administrative Agent a fully executed and delivered Funding Notice no later than 1:00 p.m. (New York City time) at least three Business Days in advance of the proposed Credit Date in . In the case of a Eurodollar Rate Loan and at least one Business Day in advance of the proposed Credit Date in the case of a Revolving Loan that is a Base Rate Loan. (iii) Notice of receipt of each Funding Notice in respect of Revolving LoansBorrowing, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day as Administrative Agent’s receipt of such Notice from Borrower. (iv) Each Appropriate Lender shall make the amount of its Revolving Loan available to Administrative the AdministrativeRevolving Agent in Same Day Funds at the AdministrativeRevolving Agent’s Office not later than 12:00 p.m. (New York City time) 1:00 p.m., on the Business Day specified in the applicable Credit Date Committed Loan Notice; provided that any Lender may, at its option, make any Revolving Loan denominated in Canadian Dollars available to the AdministrativeRevolving Agent by causing any foreign or domestic branch or Affiliate of such Lender to make such Revolving Loan available to the AdministrativeRevolving Agent; provided, further, that any exercise of such option shall not affect the obligation of the US Borrower to repay such Revolving Loan in accordance with the terms of this Agreement. Upon satisfaction of the applicable conditions set forth in Section 4.02 (or if such Borrowing is on the Closing Date, Section 4.01), the AdministrativeRevolving Agent shall make all funds so received available to the US Borrower in like funds as received by the AdministrativeRevolving Agent by wire transfer of same day funds such funds, in Dollarseach case in accordance with instructions provided to (and reasonably acceptable to) the AdministrativeRevolving Agent by the US Borrower; provided, at however, that if, on the Principal Office designated date the Committed Loan Notice with respect to such Borrowing is given by Administrative Agent. Except as provided hereinthe US Borrower, upon satisfaction there are Swing Line Loans outstanding or waiver of the conditions precedent specified hereinReimbursement Obligations outstanding, Administrative Agent shall make then the proceeds of such Borrowing shall be applied, first, to the payment in full of any such Reimbursement Obligations, second, to the payment in full of any such Swing Line Loans and third, to the US Borrower as provided above. (iii) The failure of any Lender to make the Revolving Loans available Loan to Borrower be made by it as part of any Borrowing shall not relieve any other Lender of its obligation, if any, hereunder to make its Revolving Loan on the applicable Credit Date by causing an amount date of same day funds in Dollarssuch Borrowing, equal but no Lender shall be responsible for the failure of any other Lender to make the proceeds of all such Revolving Loans received by Administrative Agent from Lenders Loan to be credited to the account of Borrower at the Principal Office designated made by Administrative Agent or such other account as may be designated in writing to Administrative Agent by BorrowerLender on the date of any Borrowing.

Appears in 1 contract

Samples: Credit Agreement (Savers Value Village, Inc.)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d2.22(d), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 500,000 and integral multiples of $1,000,000 100,000 in excess of that amount, and Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 500,000 and integral multiples of $1,000,000 100,000 in excess of that amount. (ii) Subject to Section 3.3(b), whenever Borrower Whenever Company desires that Lenders make Revolving Loans, Borrower Company shall deliver to Administrative Agent a fully executed and delivered Funding Notice no later than 1:00 p.m. 10:00 a.m. (New York City time) at least three Business Days in advance of the proposed Credit Date in the case of a Eurodollar Rate Loan Loan, and at least one Business Day in advance of the proposed Credit Date in the case of a Revolving Loan that is a Base Rate Loan. Except as otherwise provided herein, a Funding Notice for a Revolving Loan that is a Eurodollar Rate Loan shall be irrevocable on and after the related Interest Rate Determination Date, and Company shall be bound to make a borrowing in accordance therewith. (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Lender’s 's Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. 10:00 a.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day as Administrative Agent’s 's receipt of such Notice from BorrowerCompany. (iv) Each Lender shall make the amount of its Revolving Loan available to Administrative Agent not later than 12:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in Dollars, at the Principal Office designated by Administrative Agent's Principal Office. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Agent shall make the proceeds of such Revolving Loans available to Borrower Company on the applicable Credit Date by causing an amount of same day funds in Dollars, Dollars equal to the proceeds of all such Revolving Loans received by Administrative Agent from Lenders to be credited to the account of Borrower Company at the Administrative Agent's Principal Office designated by Administrative Agent or such other account as may be designated in writing to Administrative Agent by BorrowerCompany.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Ipc Acquisition Corp)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 1,000,000 and integral multiples of $1,000,000 500,000 in excess of that amount, and Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 2,000,000 and integral multiples of $1,000,000 in excess of that amount. (ii) Subject to Section 3.3(b), whenever Borrower Whenever Company desires that Lenders make Revolving Loans, Borrower Company shall deliver to Administrative Agent a fully executed and delivered Funding Notice no later than 1:00 p.m. (New York City time) at least three Business Days in advance of the proposed Credit Date in the case of a Eurodollar Rate Loan Loan, and at least one Business Day in advance of the proposed Credit Date in the case of a Revolving Loan that is a Base Rate Loan. Except as otherwise provided herein, a Funding Notice for a Revolving Loan that is a Eurodollar Rate Loan shall be irrevocable on and after the related Interest Rate Determination Date, and Company shall be bound to make a borrowing in accordance therewith. (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. (New York City time)) not later than 2:00 3:00 p.m. (New York City time) on the same day as Administrative Agent’s receipt of such Notice from BorrowerCompany. (iv) Each Lender shall make the amount of its Revolving Loan available to Administrative Agent not later than 12:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in Dollars, at the Principal Office designated by the Administrative Agent. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Agent shall make the proceeds of such Revolving Loans available to Borrower Company on the applicable Credit Date by causing an amount of same day funds in Dollars, Dollars equal to the proceeds of all such Revolving Loans received by Administrative Agent from Lenders to be credited to the account of Borrower Company at the Principal Office designated by the Administrative Agent or such other account as may be designated in writing to Administrative Agent by BorrowerCompany.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Vca Antech Inc)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d2.3(d), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 500,000 and integral multiples of $1,000,000 100,000 in excess of that amount, and Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 1,000,000 and integral multiples of $1,000,000 250,000 in excess of that amount. (ii) Subject to Section 3.3(b), whenever Borrower Whenever Company desires that Lenders make Revolving Loans, Borrower Company shall deliver to Administrative Agent a fully executed and delivered Funding Notice no later than 1:00 p.m. 10:00 a.m. (New York City time) at least three Business Days in advance of the proposed Credit Date in the case of a Eurodollar Rate Loan Loan, and at least one Business Day in advance of the proposed Credit Date in the case of a Revolving FIRST LIEN CREDIT AGREEMENT EXECUTION Loan that is a Base Rate Loan. Except as otherwise provided herein, a Funding Notice for a Revolving Loan that is a Eurodollar Rate Loan shall be irrevocable on and after the related Interest Rate Determination Date, and Company shall be bound to make a borrowing in accordance therewith. (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Lender’s 's Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. 10:00 a.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day as Administrative Agent’s 's receipt of such Notice from BorrowerCompany. (iv) Each Lender shall make the amount of its Revolving Loan available to Administrative Agent not later than 12:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in Dollars, at the Principal Office designated by Administrative Agent's Principal Office. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Agent shall make the proceeds of such Revolving Loans available to Borrower Company on the applicable Credit Date by causing an amount of same day funds in Dollars, Dollars equal to the proceeds of all such Revolving Loans received by Administrative Agent from Lenders to be credited to the account of Borrower Company at the Administrative Agent's Principal Office designated by Administrative Agent or such other account as may be designated in writing to Administrative Agent by BorrowerCompany.

Appears in 1 contract

Samples: Credit Agreement (Carmike Cinemas Inc)

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Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 250,000, and integral multiples of $1,000,000 in excess of that amount, Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount1,000,000. (ii) Subject to Section 3.3(b), whenever Borrower Whenever Company desires that Lenders make Revolving Loans, Borrower Company shall deliver to Administrative Agent a fully executed and delivered Funding Notice no later than 1:00 p.m. noon (New York City time) at least three Business Days in advance of the proposed Credit Date in the case of a Eurodollar Rate Loan Loan, and at least one Business Day in advance of the proposed Credit Date in the case of a Revolving Loan that is a Base Rate Loan. Except as otherwise provided herein, a Funding Notice for a Revolving Loan that is a Eurodollar Rate Loan shall be irrevocable on and after the related Interest Rate Determination Date, and Company shall be bound to make a borrowing in accordance therewith. (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. noon (New York City time)) not later than 2:00 3:00 p.m. (New York City time) on the same day as Administrative Agent’s receipt of such Notice from BorrowerCompany. (iv) Each Lender shall make the amount of its Revolving Loan available to Administrative Agent not later than 12:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in Dollars, at the Principal Office designated by Administrative Agent’s Principal Office. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Agent shall make the proceeds of such Revolving Loans available to Borrower Company on the applicable Credit Date by causing an amount of same day funds in Dollars, Dollars equal to the proceeds of all such Revolving Loans received by Administrative Agent from Lenders to be credited to the account of Borrower Company at the Administrative Agent’s Principal Office designated by Administrative Agent or such other account as may be designated in writing to Administrative Agent by BorrowerCompany.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Vought Aircraft Industries Inc)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 1,000,000 and integral multiples of $1,000,000 500,000 in excess of that amount, and Revolving Loans that are Eurodollar LIBOR Rate Loans shall be in an aggregate minimum amount of $5,000,000 1,000,000 and integral multiples of $1,000,000 500,000 in excess of that amount. (ii) Subject to Section 3.3(b), whenever Borrower Whenever Company desires that Lenders make Revolving Loans, Borrower Company shall deliver to Administrative Borrowing Base Agent a fully executed and delivered Funding Notice no later than 1:00 p.m. 10:00 a.m. (New York City time) at least three Business Days in advance of the proposed Credit Date in the case of a Eurodollar LIBOR Rate Loan Loan, and at least one Business Day in advance of the proposed Credit Date in the case of a Revolving Loan that is a Base Rate Loan. Except as otherwise provided herein, a Funding Notice for a Revolving Loan that is a LIBOR Rate Loan shall be irrevocable when given, and Company shall be bound to make a borrowing in accordance therewith. Borrowing Base Agent and Lenders may act without liability upon the basis of written, telecopied or telephonic notice believed by Borrowing Base Agent in good faith to be from Company (or from any Authorized Officer thereof designated in writing purportedly from Company to Borrowing Base Agent). Borrowing Base Agent and each Lender shall be entitled to rely conclusively on any Authorized Officer’s authority to request a Revolving Loan on behalf of Company until Borrowing Base Agent receives written notice to the contrary. Borrowing Base Agent and Lenders shall have no duty to verify the authenticity of the signature appearing on any written Funding Notice. (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Borrowing Base Agent to each applicable Lender with a Revolving Commitment by telefacsimile with reasonable promptness, but (provided Administrative that Borrowing Base Agent shall have received such notice by 1:00 p.m. 10:00 a.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day as Administrative Borrowing Base Agent’s receipt of such Notice from BorrowerCompany. (iv) Each Lender shall make the amount of its Revolving Loan available to Administrative Borrowing Base Agent not later than 12:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in Dollars, at the Principal Office designated by Administrative to Borrowing Base Agent’s Account. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Borrowing Base Agent shall make the proceeds of such Revolving Loans available to Borrower Company on the applicable Credit Date by causing an amount of same day funds in Dollars, Dollars equal to the proceeds of all such Revolving Loans received by Administrative Borrowing Base Agent from Lenders to be credited to the account of Borrower at the Principal Office designated by Administrative Agent Company or such other account as may be designated in writing to Administrative Borrowing Base Agent by BorrowerCompany.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Syntax-Brillian Corp)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount, Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 1,000,000 and integral multiples of $500,000 in excess of that amount and Revolving Loans that are LIBOR Rate Loans shall be in an aggregate minimum amount of $1,000,000 and integral multiples of $1,000,000 in excess of that amount. (ii) Subject to Section 3.3(b), whenever Borrower Whenever Company desires that Lenders make Revolving Loans, Borrower Company shall deliver to Administrative Agent a fully executed and delivered Funding Notice no later than 1:00 p.m. 10:00 a.m. (New York City time) at least three (3) Business Days in advance of the proposed Credit Date in the case of a Eurodollar LIBOR Rate Loan Loan, and at least one (1) Business Day in advance of the proposed Credit Date in the case of a Revolving Loan that is a Base Rate Loan. Except as otherwise provided herein, a Funding Notice for a Revolving Loan that is a LIBOR Rate Loan shall be irrevocable on and after the related Interest Rate Determination Date, and Company shall be bound to make a borrowing in accordance therewith. (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Lender’s 's Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. 10:00 a.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day as Administrative Agent’s 's receipt of such Notice from BorrowerCompany. (iv) Each Lender shall make the amount of its Revolving Loan available to Administrative Agent not later than 12:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in Dollars, at to the Principal Office designated by Administrative Agent's Account. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Agent shall make the proceeds of such Revolving Loans available to Borrower Company on the applicable Credit Date by causing an amount of same day funds in Dollars, Dollars equal to the proceeds of all such Revolving Loans received by Administrative Agent from Lenders to be credited to the account of Borrower Company (account number 3300395109) at the Principal Office designated by Administrative Agent Silicon Valley Bank or such other account as may be designated in writing to Administrative Agent by BorrowerCompany.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Navisite Inc)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 500,000 and integral multiples of $1,000,000 250,000 in excess of that amount, and Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 1,000,000 and integral multiples of $1,000,000 500,000 in excess of that amount. (ii) Subject to Section 3.3(b), whenever Whenever Borrower desires that Lenders make Revolving Loans, Borrower shall deliver to Administrative Agent a fully executed and delivered Funding Notice no later than 1:00 p.m. 10:00 a.m. (New York City time) at least three Business Days in advance of the proposed Credit Date in the case of a Eurodollar Rate Loan Loan, and at least one Business Day in advance of the proposed Credit Date in the case of a Revolving Loan that is a Base Rate Loan. Except as otherwise provided herein, a Funding Notice for a Revolving Loan that is a Eurodollar Rate Loan shall be irrevocable on and after the related Interest Rate Determination Date, and Borrower shall be bound to make a borrowing in accordance therewith. (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. 10:00 a.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day as Administrative Agent’s receipt of such Notice from Borrower. (iv) Each Lender shall make the amount of its Revolving Loan available to Administrative Agent not later than 12:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in Dollars, at the Principal Office designated by Administrative Agent. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Agent shall make the proceeds of such Revolving Loans available to Borrower on the applicable Credit Date by causing an amount of same day funds in Dollars, Dollars equal to the proceeds of all such Revolving Loans received by Administrative Agent from Lenders to be credited to the account of Borrower at the Principal Office designated by Administrative Agent or such other account as may be designated in writing to Administrative Agent by Borrower.

Appears in 1 contract

Samples: Revolving Credit and Guaranty Agreement (Movie Gallery Inc)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d2.02(h) or 2.02(l)(vi), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount, Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 2,500,000 and integral multiples of $1,000,000 in excess of that amount. (ii) Subject to Section 3.3(b), whenever Whenever the Borrower desires that Lenders make Revolving Loans, the Borrower shall deliver to the Administrative Agent a fully executed and delivered Funding Loan Notice no later than 1:00 p.m. 10:00 a.m. (New York City time) (A) in the case of a LIBOR Rate Loan, at least three (3) Business Days in advance of the proposed Credit Date Borrowing Date, (B) in the case of a Eurodollar one or more Base Rate Loan and Loans in an aggregate principal amount greater than $100,000,000, at least one (1) Business Day in advance of the proposed Credit Date Borrowing Date, and (C) in the case of one or more Base Rate Loans in an aggregate principal amount equal to or less than $100,000,000, on the proposed Borrowing Date; provided that, if such Borrowing Date is the Effective Date, such Loan Notice may be delivered within such period shorter than three (3) Business Days as may be agreed by the Administrative Agent with respect to LIBOR Rate Loans. Except as otherwise provided herein, a Loan Notice for a Revolving Loan that is a Base LIBOR Rate LoanLoan shall be irrevocable on and after the related Interest Rate Determination Date. (iii) Notice of receipt of each Funding Loan Notice in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by the Administrative Agent to each applicable Lender by telefacsimile facsimile or other electronic communication with reasonable promptness, but (provided that the Administrative Agent shall have received such notice by 1:00 p.m. 10:00 a.m. (New York City time)) not later than 2:00 3:00 p.m. (New York City time) (or, in the case of a Loan Notice delivered pursuant to Section 2.01(b)(ii)(C), 12:00 noon (New York City time)) on the same day as the Administrative Agent’s receipt of such Loan Notice from the Borrower. (iv) Each Lender shall make the amount of its Revolving Loan available to the Administrative Agent not later than 12:00 noon (New York City time) (or, in the case of Base Rate Loans with respect to which a Loan Notice is delivered pursuant to Section 2.01(b)(ii)(C), 2:00 p.m. (New York City time)) on the applicable Credit Borrowing Date by wire transfer of same day funds in Dollars, at the Principal Office designated by Administrative Agent’s Office. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, the Administrative Agent shall make the proceeds of such Revolving Loans available to the Borrower on the applicable Credit Borrowing Date by causing an amount of same day funds in Dollars, Dollars equal to the proceeds of all such Revolving Loans received by the Administrative Agent from Lenders to be credited to the account of the Borrower at the Principal Administrative Agent’s Office designated by Administrative Agent or to such other account or accounts as may be designated in writing to the Administrative Agent by the Borrower.

Appears in 1 contract

Samples: Credit Agreement (KKR & Co. Inc.)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d2.02(h) or 2.02(l)(vi), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount, Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 2,500,000 and integral multiples of $1,000,000 in excess of that amount. (ii) Subject to Section 3.3(b), whenever Whenever the Borrower desires that Lenders make Revolving Loans, the Borrower shall deliver to the Administrative Agent a fully executed and delivered Funding Loan Notice no later than 1:00 p.m. 10:00 a.m. (New York City time) (A) in the case of a LIBOR RateSOFR Loan, at least three (3) Business Days in advance of the proposed Credit Date Borrowing Date, (B) in the case of a Eurodollar one or more Base Rate Loan and Loans in an aggregate principal amount greater than $100,000,000, at least one (1) Business Day in advance of the proposed Credit Date Borrowing Date, and (C) in the case of one or more Base Rate Loans in an aggregate principal amount equal to or less than $100,000,000, on the proposed Borrowing Date; provided that, if such Borrowing Date is the Effective Date, such Loan Notice may be delivered within such period shorter than three (3) Business Days as may be agreed by the Administrative Agent with respect to LIBOR RateSOFR Loans. Except as otherwise provided herein, a Loan Notice for a Revolving Loan that is a Base LIBOR RateSOFR Loan shall be irrevocable on and after the related Interest Rate LoanDetermination Date. (iii) Notice of receipt of each Funding Loan Notice in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by the Administrative Agent to each applicable Lender by telefacsimile facsimile or other electronic communication with reasonable promptness, but (provided that the Administrative Agent shall have received such notice by 1:00 p.m. 10:00 a.m. (New York City time)) not later than 2:00 3:00 p.m. (New York City time) (or, in the case of a Loan Notice delivered pursuant to Section 2.01(b)(ii)(C), 12:00 noon (New York City time)) on the same day as the Administrative Agent’s receipt of such Loan Notice from the Borrower. (iv) Each Lender shall make the amount of its Revolving Loan available to the Administrative Agent not later than 12:00 noon (New York City time) (or, in the case of Base Rate Loans with respect to which a Loan Notice is delivered pursuant to Section 2.01(b)(ii)(C), 2:00 p.m. (New York City time)) on the applicable Credit Borrowing Date by wire transfer of same day funds in Dollars, at the Principal Office designated by Administrative Agent’s Office. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, the Administrative Agent shall make the proceeds of such Revolving Loans available to the Borrower on the applicable Credit Borrowing Date by causing an amount of same day funds in Dollars, Dollars equal to the proceeds of all such Revolving Loans received by the Administrative Agent from Lenders to be credited to the account of the Borrower at the Principal Administrative Agent’s Office designated by Administrative Agent or to such other account or accounts as may be designated in writing to the Administrative Agent by the Borrower.

Appears in 1 contract

Samples: Credit Agreement (KKR & Co. Inc.)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant Subject to Section 2.4(d), 4.01(a)(i) in the case of Borrowings of Revolving Loans that are Base Rate on the Closing Date only and Section 4.02(c) in the case of each other Borrowing of Revolving Loans, each Borrowing of Revolving Loans shall be made upon the Borrower’s irrevocable notice to the Administrative Agent, which may only be given in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount, Revolving Loans that are Eurodollar Rate Loans writing (each request for a Swing Line Loan Borrowing shall be made in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount. (ii) Subject to accordance with Section 3.3(b2.03), whenever Borrower desires that Lenders make Revolving Loans, Borrower shall deliver to . Each such notice must be received by the Administrative Agent a fully executed and delivered Funding Notice no not later than 1:00 (A) 1:30 p.m. (New York City time) at least three Business Days in advance prior to the requested date of the proposed Credit Date in the case any Borrowing of a Eurodollar Rate Loan and at least one Business Day in advance of the proposed Credit Date in the case of a Revolving Loan that is a Base Rate Loan. (iii) Notice of receipt of each Funding Notice in respect of Revolving Term Benchmark Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but and (provided Administrative Agent shall have received such notice by B) 1:00 p.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day requested date of any Borrowing of Base Rate Loans; provided, that such notices may be conditioned on the occurrence of the Closing Date, the commercially reasonable efforts of the Borrower to deliver a Borrowing Base Certificate or, with respect to any Incremental Facility, the occurrence of any transaction anticipated to occur in connection with such Incremental Facility; provided, further, that if the Borrower wishes to request Term Benchmark Loans denominated in Dollars having an Interest Period other than one, three or six months in duration as provided in the definition of “Interest Period,” the applicable notice must be received by the Administrative Agent’s receipt Agent not later than 11:00 a.m. four Business Days prior to the requested date of such Borrowing, conversion or continuation, whereupon the Administrative Agent shall give prompt notice to the Appropriate Lenders of such request and determine whether the requested Interest Period is acceptable to all of them. Not later than 11:00 a.m., three Business Days before the requested date of such Borrowing, conversion or continuation, the Administrative Agent shall notify the Borrower (which notice may be by telephone) whether or not the requested Interest Period has been consented to by all the Lenders. Each notice by the Borrower pursuant to this Section 2.01(b) must be delivered to the Administrative Agent in the form of a Committed Loan Notice, appropriately completed and signed by a Responsible Officer of the Borrower. Each Borrowing of Term Benchmark Loans shall be in a principal amount of (A) $500,000 or a whole multiple of $100,000 in excess thereof in the case of Term Benchmark Loans denominated in Dollars, (B) [reserved] and (C) a Dollar Amount of $500,000 or a whole multiple of $100,000 in excess thereof in the case of Term Benchmark Loans denominated in any Alternative Currency. Each Borrowing of Base Rate Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof. Each Committed Loan Notice from Borrowershall specify (1) that the Borrower is requesting a Revolving Loan Borrowing, (2) the requested date of the Borrowing (which shall be a Business Day), (3) the principal amount of Revolving Loans to be borrowed, (4) the Type of Revolving Loans to be borrowed, (5) with respect to any Term Benchmark Loan, the currency of the Revolving Loan, which shall be Dollars or an Alternative Currency; provided that the Borrower shall deliver to the Administrative Agent any request for designation of an Alternative Currency in accordance with Section 11.02, to be received by the Administrative Agent no later than 11:00 a.m. (New York City time) at least 15 Business Days in advance of the date of any Borrowing hereunder proposed to be made in such Alternative Currency (or such other time or date as may be agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the applicable Issuing Bank(s), in its or their sole discretion) and (6) if applicable, the duration of the Interest Period with respect thereto. Each Swing Line Loan shall be a Base Rate Loan. If the Borrower fails to specify a Type of Revolving Loan in a Committed Loan Notice, then (x) in the case of Revolving Loans denominated in Dollars, the applicable Revolving Loans shall be made as Base Rate Loans and (y) in the case of Revolving Loans denominated in an Alternative Currency, the applicable Revolving Loans shall be made as Term Benchmark Loans with an Interest Period of one month. If the Borrower requests a Borrowing of Term Benchmark Loans in any such Committed Loan Notice, but fails to specify an Interest Period for such Term Benchmark Loans, the Borrower will be deemed to have specified an Interest Period of one month. (ivii) Each Borrowings of more than one Type may be outstanding at the same time: provided that the total number of Interest Periods for Term Benchmark Loans outstanding under this Agreement at any time shall comply with Section 2.10(g). (iii) Following receipt of a Committed Loan Notice, the Administrative Agent shall promptly notify each Lender of the amount of its Pro Rata Share of the applicable Revolving Loans. In the case of each Borrowing, each Appropriate Lender shall make the amount of its Revolving Loan available to the Administrative Agent in Same Day Funds at the Administrative Agent’s Office not later than (x) for Borrowings of Term Benchmark Loans, 12:00 p.m. (New York City time) ), on the Business Day specified in the applicable Credit Date by wire transfer Committed Loan Notice and (y) for Borrowings of same day funds Base Rate Loans, 3:00 p.m. (New York City time), on the Business Day specified in Dollars, at the Principal Office designated by Administrative Agentapplicable Committed Loan Notice. Except as provided herein, upon Upon satisfaction or waiver of the applicable conditions precedent specified hereinset forth in Section 4.02 (or if such Borrowing is on the Closing Date, Section 4.01), the Administrative Agent shall make all funds so received available to the Borrower in like funds as received by the Administrative Agent either by (A) crediting the account of the Borrower on the books of the Administrative Agent with the amount of such funds or (B) wire transfer of such funds, in each case in accordance with instructions provided to (and reasonably acceptable to) the Administrative Agent by the Borrower; provided, however, that if, on the date the Committed Loan Notice with respect to such Borrowing is given by the Borrower, there are Swing Line Loans outstanding or Reimbursement Obligations outstanding, then the proceeds of such Borrowing shall be applied, first, to the payment in full of any such Reimbursement Obligations, second, to the payment in full of any such Swing Line Loans and third, to the Borrower as provided above. (iv) The failure of any Lender to make the Revolving Loans available Loan to Borrower be made by it as part of any Borrowing shall not relieve any other Lender of its obligation, if any, hereunder to make its Revolving Loan on the applicable Credit Date by causing an amount date of same day funds in Dollarssuch Borrowing, equal but no Lender shall be responsible for the failure of any other Lender to make the proceeds of all such Revolving Loans received by Administrative Agent from Lenders Loan to be credited to the account of Borrower at the Principal Office designated made by Administrative Agent or such other account as may be designated in writing to Administrative Agent by BorrowerLender on the date of any Borrowing.

Appears in 1 contract

Samples: Abl Revolving Credit Agreement (Petco Health & Wellness Company, Inc.)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 500,000 and integral multiples of $1,000,000 100,000 in excess of that amount, and Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 1,000,000 and integral multiples of $1,000,000 250,000 in excess of that amount. (ii) Subject to Section 3.3(b), whenever Borrower Whenever Company desires that Lenders make Revolving Loans, Borrower Company shall deliver to Administrative Agent a fully executed and delivered Funding Notice no later than 1:00 p.m. 10:00 a.m. (New York City time) at least three Business Days in advance of the proposed Credit Date in the case of a Eurodollar Rate Loan Loan, and at least one Business Day in advance of the proposed Credit Date in the case of a Revolving Loan that is a Base Rate LoanLoan (or, in connection with any Advances made on the Closing Date, such shorter period as Administrative Agent shall approve). Except as otherwise provided herein, a Funding Notice for a Revolving Loan that is a Eurodollar Rate Loan shall be irrevocable on and after the related Interest Rate Determination Date, and Company shall be bound to make a borrowing in accordance therewith. (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 12:00 p.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day as Administrative Agent’s receipt of such Notice from BorrowerCompany. (iv) Each Lender shall make the amount of its Revolving Loan available to Administrative Agent not later than 12:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in Dollars, at the Principal Office designated by Administrative Agent, or, with respect to any Advances made on the Closing Date, by such time and at such location as the Administrative Agent shall otherwise reasonably agree. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Agent shall make the proceeds of such Revolving Loans available to Borrower Company on the applicable Credit Date by causing an amount of same day funds in Dollars, Dollars equal to the proceeds of all such Revolving Loans received by Administrative Agent from Lenders to be credited to the account of Borrower Company at the Principal Office designated by Administrative Agent or such other account as may be designated in writing to Administrative Agent by BorrowerCompany.

Appears in 1 contract

Samples: First Lien Credit and Guaranty Agreement (X Rite Inc)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d2.3(d), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount, and Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount. (ii) Subject to Section 3.3(b), whenever Whenever Borrower desires that Lenders make Revolving Loans, the Borrower shall deliver to the Administrative Agent a fully executed and delivered Funding Borrowing Notice no later than 1:00 2:00 p.m. (New York City time) at least three (3) Business Days in advance of the proposed Credit Date (or such shorter time as is agreed to by the Administrative Agent hereunder) in the case of a Eurodollar Rate Loan Loan, and at least one (1) Business Day in advance of the proposed Credit Date (or such shorter time as is agreed to by the Administrative Agent hereunder) in the case of a Revolving Loan that is a Base Rate Loan. Except as otherwise provided herein, a Borrowing Notice for a Revolving Loan that is a Eurodollar Rate Loan shall be irrevocable on and after the related Interest Rate Determination Date, and the Borrower shall be bound to make a borrowing in accordance therewith. (iii) Notice of receipt of each Funding Borrowing Notice in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by the Administrative Agent to each applicable Lender by telefacsimile facsimile with reasonable promptness, but (provided the Administrative Agent shall have received such notice by 1:00 p.m. 10:00 a.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day as Administrative Agent’s receipt of such Notice from Borrower. (iv) Each Lender shall make the amount of its Revolving Loan available to Administrative Agent not later than 12:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in Dollars, at the Principal Office designated by Administrative Agent. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Agent shall make the proceeds of such Revolving Loans available to Borrower on the applicable Credit Date by causing an amount of same day funds in Dollars, equal to the proceeds of all such Revolving Loans received by Administrative Agent from Lenders to be credited to the account of Borrower at the Principal Office designated by Administrative Agent or such other account as may be designated in writing to Administrative Agent by Borrower.York

Appears in 1 contract

Samples: Revolving Credit Agreement (Las Vegas Sands Corp)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 1,000,000 and integral multiples of $1,000,000 500,000 in excess of that amount, and Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 1,000,000 and integral multiples of $1,000,000 500,000 in excess of that amount. (ii) Subject to Section 3.3(b), whenever Borrower Whenever Company desires that Lenders make Revolving Loans, Borrower Company shall deliver to Administrative Agent a fully executed and delivered Funding Notice no later than 1:00 p.m. 10:00 a.m. (New York City time) at least three Business Days in advance of the proposed Credit Date in the case of a Eurodollar Rate Loan Loan, and at least one Business Day in advance of the proposed Credit Date in the case of a Revolving Loan that is a Base Rate LoanLoan (or, in connection with any Advances made on the Closing Date, such shorter period as Administrative Agent shall approve). Except as otherwise provided herein, a Funding Notice for a Revolving Loan that is a Eurodollar Rate Loan shall be irrevocable on and after the related Interest Rate Determination Date, and Company shall be bound to make a borrowing in accordance therewith. (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Lender by telefacsimile facsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 12:00 p.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day as Administrative Agent’s receipt of such Notice from BorrowerCompany. (iv) Each Lender shall make the amount of its Revolving Loan available to Administrative Agent not later than 12:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in Dollars, at the Principal Office designated by Administrative Agent, or, with respect to any Advances made on the Closing Date, by such time and at such location as the Administrative Agent shall otherwise reasonably agree. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Agent shall make the proceeds of such Revolving Loans available to Borrower Company on the applicable Credit Date by causing an amount of same day funds in Dollars, Dollars equal to the proceeds of all such Revolving Loans received by Administrative Agent from Lenders to be credited to the account of Borrower Company at the Principal Office designated by Administrative Agent or such other account as may be designated in writing to Administrative Agent by BorrowerCompany.

Appears in 1 contract

Samples: First Lien Credit and Guaranty Agreement (X Rite Inc)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount, Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount[Reserved]. (ii) Subject to Section 3.3(b), whenever Whenever any Borrower desires that Lenders make Revolving Loans, the Borrower Representative shall deliver to the Administrative Agent a fully executed and delivered Funding Notice (which may be delivered through Administrative Agent’s electronic platform or portal and which must be received by the Administrative Agent no later than 1:00 p.m. 11:00 a.m. (New York City timeA) at least three Business Days in advance of the proposed Credit Date (which shall be a Business Day) in the case of a Eurodollar Eurocurrency Rate Loan and or (B) at least one Business Day in advance of the proposed Credit Date (which shall be a Business Day) in the case of a Revolving Loan that is a Base Rate Loan) specifying (i) the Borrower making the borrowing, (ii) the amount to be borrowed, (iii) the requested Credit Date, (iv) wither the borrowing is to be for Eurocurrency Rate Loans, Base Rate Loans or a combination thereof, and (v) if the borrowing is to be entirely or partly Eurocurrency Rate Loans, the amount of such Eurocurrency Rate Loan and the length of the initial Interest Periods therefor. Except as otherwise provided herein, a Funding Notice shall be irrevocable after the related Interest Rate Determination Date and the applicable Borrower shall be bound to make a borrowing in accordance therewith. (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by the Administrative Agent to each applicable Lender by telefacsimile or other electronic means with reasonable promptness.; provided, but (provided Administrative Agent shall have received such notice by 1:00 p.m. (New York City time)) not later than 2:00 p.m. (New York City time) however, that if, on the same day as Administrative Agent’s receipt date the Funding Notice with respect to such Revolving Loans is given by the Borrower Representative, there are L/C Borrowings or Swing Line Loans outstanding, then the proceeds of such Notice from Revolving Loan, first, shall be applicable to the payment in full of any such L/C Borrowing and Swing Line Loans and second, shall be made available to the applicable Borrower. (iv) Each Lender shall make the amount of its Revolving Loan available to the Administrative Agent not later than (w) 2:00 p.m., in the case of Base Rate Loans, (x) 12:00 p.m. p.m., in the case of all other Loans, (New York City timey) 10:00 a.m., in the case of borrowing made on the Closing Date, or (z) such other time as to which the Administrative Agent shall notify the Borrower Representative of reasonably in advance of the Credit Date with respect thereto, in each case, on the applicable Credit Date by wire transfer of same day funds Same Day Funds in Dollars, Dollars at the Principal Office designated by of the Administrative Agent. Each Lender may, at its option, make the amount of its pro rata share of each borrowing of Revolving Loans available to the Administrative Agent for the account of the applicable Borrower by causing any foreign or domestic branch or Affiliate of such Lender to make such Loan; provided that any exercise of such option shall not affect the obligation of the applicable Borrower to repay such Loan in accordance with the terms of this Agreement. All borrowing requests which are not made on-line via the Administrative Agent’s electronic platform or portal shall be subject to (and unless the Administrative Agent elects otherwise in the exercise of its Permitted Discretion, such borrowings shall not be made until the completion of) the Administrative Agent’s authentication process (with results satisfactory to the Administrative Agent) prior to the funding of any such requested Revolving Loan. This Section 2.2 shall be subject to Section 2.15. (v) Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, the Administrative Agent shall make the proceeds of such Revolving Loans available to the applicable Borrower on the applicable Credit Date by causing an amount of same day funds Same Day Funds in Dollars, Dollars equal to the proceeds of all such Revolving Loans received by the Administrative Agent from Lenders to be credited to the account of the applicable Borrower at the Principal Office designated by the Administrative Agent or such other account as may be designated in writing to the Administrative Agent by Borrowerthe Borrower Representative.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Lannett Co Inc)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d), Class A Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 50,000, and integral multiples of $1,000,000 in excess of that amount, Class B Revolving Loans that are Eurodollar Rate Loans shall be made in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount.50,000. EAST\148781874.9 (ii) Subject to Section 3.3(b), whenever Borrower Whenever Company desires that Lenders make Revolving Loans, Borrower Company shall deliver to Administrative Agent a fully executed and delivered Funding Notice to (A) the Administrative Agent, the Paying Agent and the Custodian no later than 1:00 p.m. 11:00 a.m. (New York City time) at least three one (1) Business Day in advance of the proposed Credit Date with respect to Class A Revolving Loans and (B) the Class B Revolving Lenders, the Paying Agent and the Custodian no later than 11:00 a.m. (New York City time) five (5) Business Days in advance of the proposed Credit Date in with respect to Class B Revolving Loans, other than any borrowing of Class B Revolving Loans on the case of a Eurodollar Rate Loan and at least one Third Amendment Effective Date, which Funding Notice may be delivered three (3) Business Day Days in advance of the proposed Credit Date in Third Amendment Effective Date. Each such Funding Notice shall be delivered with a Borrowing Base Certificate reflecting sufficient Class A Revolving Availability and Class B Revolving Availability, as applicable, for the case of requested Revolving Loans and a Revolving Loan that is a Borrowing Base Rate LoanReport. (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day as Administrative Agent’s receipt of such Notice from Borrower. (iv) Each Lender shall make the amount of its Revolving Loan available to Administrative the Paying Agent not later than 12:00 1:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in DollarsDollars to the Funding Account, at and the Principal Office designated by Administrative Agent. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Paying Agent shall make remit such funds to the proceeds of such Revolving Loans available to Borrower on the applicable Credit Date Company not later than 3:00 p.m. (New York City time) by causing an amount wire transfer of same day funds in DollarsDollars from the Funding Account to another account of Company designated in the related Funding Notice. (iv) Company may borrow Class A Revolving Loans pursuant to this Section 2.1, equal purchase Eligible Receivables pursuant to Section 2.11(c)(vii)(C) and/or repay Class A Revolving Loans pursuant to Section 2.11(c)(vii)(B) no more than three (3) times per week. Company may borrow Class B Revolving Loans pursuant to this Section 2.1 no more than one (1) time a calendar month; provided, that the Company may make one (1) additional borrowing of Class B Revolving Loans during the last week of any calendar quarter with the written consent (to be given in their sole discretion) of the Requisite Class B Revolving Lenders provided, further, that with respect to the proceeds first borrowing of all such Class B Revolving Loans received by Administrative Agent from Lenders to Company, not including a borrowing, if any, on the Third Amendment Effective Date, the related Funding Notice shall not be credited delivered to the account of Borrower at the Principal Office designated by Administrative Agent or such other account as may be designated in writing Class B Revolving Lenders prior to Administrative Agent by BorrowerJanuary 2, 2018.

Appears in 1 contract

Samples: Credit Agreement (On Deck Capital, Inc.)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d), Revolving Loans (x) that are Base Eurodollar Rate Loans shall will be made in an aggregate minimum amount of $5,000,000 1,000,000 and integral multiples of $1,000,000 in excess of that amount, Revolving Loans amount and (y) that are Eurodollar Base Rate Loans shall will be made in an aggregate minimum amount of $5,000,000 500,000 and integral multiples of $1,000,000 100,000 in excess of that amount. (ii) Subject to Section 3.3(b), whenever Whenever a Borrower desires that Lenders make Revolving LoansLoans (other than as provided in Section 2.12(f)), such Borrower shall deliver to the Administrative Agent a fully executed and delivered Funding Loan Notice no later than 1:00 p.m. 10:00 a.m. (New York City time) at least three Business Days in advance of the proposed Credit Borrowing Date in the case of a Eurodollar Rate Loan Loan, and at least one no later than 12:00 p.m. (New York City time) on the Business Day in advance of prior to the proposed Credit Borrowing Date in the case of a Revolving Loan that is a Base Rate Loan; provided that, if such Borrowing Date is the Closing Date, such Loan Notice may be delivered within such period shorter than three Business Days as may be agreed by the Administrative Agent with respect to Eurodollar Rate Loans. Except as otherwise provided herein, a Loan Notice for a Revolving Loan that is a Eurodollar Rate Loan shall be irrevocable. (iii) Notice of receipt of each Funding Loan Notice in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by the Administrative Agent to each applicable Lender by telefacsimile facsimile or other electronic communication with reasonable promptness, but (provided that the Administrative Agent shall have received such notice by 1:00 p.m. 10:00 a.m. (New York City time)) not later than 2:00 3:00 p.m. (New York City time) on the same day as the Administrative Agent’s receipt of such Loan Notice from the applicable Borrower. (iv) Each Except as provided in Section 2.12(f), each Lender shall make the amount of its Revolving Loan available to the Administrative Agent not later than 12:00 p.m. (New York City time) on the applicable Credit Borrowing Date by wire transfer of same day funds in Dollars, at the Principal Office designated by Administrative Agent’s Office. Each Lender may, at its option, make any Revolving Loan to a Borrower available by causing any foreign or domestic branch or Affiliate of such Lender to make such Revolving Loan; provided that any exercise of such option shall not affect the obligation of such Borrower to repay such Revolving Loan in accordance with the terms of this Agreement. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, the Administrative Agent shall make the proceeds of such Revolving Loans available to the Borrower that requested such Revolving Loans on the applicable Credit Borrowing Date by causing an amount of same day funds in Dollars, Dollars equal to the proceeds of all such Revolving Loans received by the Administrative Agent from Lenders to be credited to the account of such Borrower at the Principal Administrative Agent’s Office designated by Administrative Agent or such other account as may be designated in writing to the Administrative Agent by such Borrower.

Appears in 1 contract

Samples: Credit Agreement (FGL Holdings)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 100,000 and integral multiples of $1,000,000 in excess of that amount, Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 50,000 in excess of that amount. (ii) Subject to Section 3.3(b), whenever Borrower desires Whenever the Companies desire that Lenders make Revolving Loans, Borrower the Company Representative shall deliver to Administrative Agent a fully executed and delivered Funding Notice no later than 1:00 p.m. 10:00 a.m. (New York City time) at least three Business Days in advance of the proposed Credit Date in the case of a Eurodollar LIBOR Rate Loan Loan, and at least one (1) Business Day in advance of the proposed Credit Date in the case of a Revolving Loan that is a Base Rate Loan. Except as otherwise provided herein, a Funding Notice for a Revolving Loan that is a LIBOR Rate Loan shall be irrevocable on and after the related Interest Rate Determination Date, and the Companies shall be bound to make a borrowing in accordance therewith. (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Lender by telefacsimile email with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. 10:00 a.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day as Administrative Agent’s receipt of such Funding Notice from Borrowerthe Company Representative. (iv) Each Lender shall make the amount of its Revolving Loan available to Administrative Agent not later than 12:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in Dollars, at the Principal Office designated by Administrative Agent’s Principal Office. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Agent shall make the proceeds of such Revolving Loans available to Borrower the Companies on the applicable Credit Date by causing an amount of same day funds in Dollars, Dollars equal to the proceeds of all such Revolving Loans received by Administrative Agent from Lenders to be credited to the account of Borrower one or more Companies at the Administrative Agent’s Principal Office designated by Administrative Agent or such other account as may be designated in writing to Administrative Agent by Borrowerthe Company Representative.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Primo Water Corp)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount, or, if the remaining total Revolving Loans that Commitments are Eurodollar Rate Loans shall be in an aggregate minimum amount of less than $5,000,000 and integral multiples of or $1,000,000 in excess of that 1,000,000, as applicable, such remaining amount. (ii) Subject to Section 3.3(b) (Notices), whenever Borrower desires that Lenders WC Issuing Bank make a Revolving LoansLoan, Borrower shall deliver to Administrative Agent a fully executed and delivered Funding Notice no later than 1:00 12:00 p.m. (New York City time) at least three Business Days in advance of the proposed Credit Date in the case of a Eurodollar Revolving Loan that is a LIBO Rate Loan Loan, and at least one Business Day in advance of the proposed Credit Date in the case of a Revolving Loan that is a Base Rate Loan. Except as otherwise provided herein, a Funding Notice for a Revolving Loan that is a LIBO Rate Loan shall be irrevocable on and after the related Interest Rate Determination Date, and Borrower shall be bound to make a borrowing in accordance therewith. (iii) Notice of receipt of each Funding Notice in respect of a Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if anyLoan, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Revolving Lender by telefacsimile in accordance with Section 10.1(b)(i) (Electronic Communications) with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 12:00 p.m. (New York City time)) not later than 2:00 3:00 p.m. (New York City time) on the same day as Administrative Agent’s receipt of such Notice from Borrower. (iv) Each Revolving Lender shall make its share of the amount of its the Revolving Loan available to Administrative Agent not later than 12:00 1:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day immediately available funds in Dollars, at the Principal Office designated by of Administrative Agent. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Agent shall make the proceeds of such Revolving Loans available to Borrower on the applicable Credit Date by causing an amount of same day immediately available funds in Dollars, equal to the proceeds of all such Revolving Loans received by Administrative Agent from the Revolving Lenders to be (A) credited to the account Operating Account, Local Discretionary Capex Account (as defined in the Depositary Agreement), Local Operating Account (as defined in the Depositary Agreement) or the Local Distribution Account as required by the Depositary Agreement or (B) paid directly to the applicable payee, provided that with respect to any borrowing of a Revolving Loan made on a Funding Date, Administrative Agent will make such funds available to Borrower in accordance with the applicable Funds Flow Memorandum. (v) Each Revolving Lender at its option may make any Revolving Loan by causing any domestic or foreign branch or Affiliate of such Revolving Lender to make such Revolving Loan; provided that any exercise of such option shall not affect the obligation of Borrower at to repay such Revolving Loan in accordance with the Principal Office designated by Administrative Agent or terms of this Agreement; and provided, further, that, for the avoidance of doubt, each Revolving Lender exercising such other account as may option shall continue to be designated in writing required to Administrative Agent by Borrowercomply with its obligations under Section 2.22 (Obligation to Mitigate).

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Cheniere Energy Partners, L.P.)

Borrowing Mechanics for Revolving Loans. (ia) Except pursuant to Section 2.4(d)2.06, Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 250,000 and integral multiples of $1,000,000 100,000 in excess of that amount, and Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 250,000 and integral multiples of $1,000,000 100,000 in excess of that amount. (iib) Subject to Section 3.3(b), whenever Whenever any Borrower desires that Lenders Lender make Revolving Loans, the applicable Borrower (or Lead Borrower on its behalf) shall deliver to Administrative Agent Lender a fully executed and delivered Funding Notice no later than 1:00 p.m. 12:00 noon (New York City time) at least three Business Days in advance of the proposed Credit Date in the case of a Eurodollar Rate Loan Loan, and at least one Business Day in advance of no later than 11:00 a.m. (New York City time) on the proposed Credit Date in the case of a Base Rate Loan. A Funding Notice received after 12:00 noon (New York City time) in the case of a Eurodollar Rate Loan and after 11:00 a.m. (New York City time) in the case of a Base Rate Loan shall be deemed received the next Business Day. Except as otherwise provided herein, a Funding Notice for a Revolving Loan that is a Base Eurodollar Rate LoanLoan shall be irrevocable on and after the related Interest Rate Determination Date and the applicable Borrower shall be bound to make a borrowing in accordance therewith. (iiic) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with Lender shall make the amount of each Lender’s Pro Rata Share thereof, if any, together with the Revolving Loan available to the applicable interest rate, shall be provided by Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. (New York City time)) Borrower not later than 2:00 p.m. (New York City time) on the same day as Administrative Agent’s receipt of such Notice from Borrower. (iv) Each Lender shall make the amount of its Revolving Loan available to Administrative Agent not later than 12:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in Dollars, at the Principal Office designated by Administrative Agent. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Agent shall make the proceeds of such Revolving Loans available to Borrower on the applicable Credit Date by causing an amount of same day funds in DollarsDollars or an Alternate Currency, as applicable, equal to the proceeds of all such Revolving Loans received by Administrative Agent from Lenders to be credited to the account of the applicable Borrower at identified in the most recent notice substantially in the form of Exhibit A-4 (“Notice of Account Designation”) delivered by such Borrower to Lender’s Principal Office designated by Administrative Agent or such other account as may be designated in writing to Administrative Agent Lender by the applicable Borrower.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Tumi Holdings, Inc.)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 and integral multiples 250,000; provided, that the initial advance of $1,000,000 in excess of that amount, Revolving Loans that are Eurodollar Rate Loans on the Closing Date shall be in an aggregate minimum amount of not less than $5,000,000 and integral multiples of $1,000,000 in excess of that amount25,000,000. (ii) Subject to Section 3.3(b), whenever Borrower Whenever Company desires that Lenders make Revolving Loans, Borrower Company shall deliver to Administrative Agent, the Paying Agent and the Custodian a fully executed and delivered Funding Notice no later than 11:00 a.m. (New York City time) at least three (3) Business Days in advance of the proposed Credit Date; provided, that (x) the Company shall review such Funding Notice on the Business Day immediately preceding the proposed Credit Date and (y) if following such review it has determined that a Receivable would not qualify as an Eligible Receivable by virtue of either clause (h) or (i) of the Eligibility Criteria not being satisfied then (1) such Receivable shall be deemed to be excluded from the Borrowing Base Certificate included in such Funding Notice (each, an “Original Borrowing Base Certificate”) (and any certification related thereto contained therein or in the Credit Documents) and (2) the Company shall deliver to Administrative Agent, the Custodian and the Paying Agent a revised Funding Notice no later than 1:00 p.m. (New York City time) at least three Business Days in advance of the proposed Credit Date in the case of a Eurodollar Rate Loan and at least one (1) Business Day in advance of the proposed Credit Date in and such revised Funding Notice (and the case corresponding Borrowing Base Certificate) (each, a “Replacement Borrowing Base Certificate”) shall be modified solely to make adjustments necessary to exclude any such Receivable that would not qualify as an Eligible Receivable by virtue of either clause (h) or (i) of the Eligibility Criteria including any reductions due to any resulting Excess Concentration Amounts, if any. Each such Funding Notice shall be delivered with a Borrowing Base Certificate reflecting sufficient Revolving Loan that is Availability for the requested Revolving Loans and a Borrowing Base Rate LoanReport. (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day as Administrative Agent’s receipt of such Notice from Borrower. (iv) Each Lender shall make the amount of its Revolving Loan available to Administrative the Paying Agent not later than 12:00 3:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in DollarsDollars to the Funding Account, at and the Principal Office designated by Administrative Agent. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Paying Agent shall make remit such funds to the proceeds of such Revolving Loans available to Borrower on the applicable Credit Date Company not later than 4:00 p.m. (New York City time) by causing an amount wire transfer of same day funds in Dollars, equal Dollars from the Funding Account to another account of Company designated in the proceeds of all such related Funding Notice. (iv) Company may borrow Revolving Loans received by Administrative Agent from Lenders pursuant to be credited this Section 2.1, no more than one (1) time per week, and Company may purchase Eligible Receivables pursuant to Section 2.11(c)(vii)(C) no more than one (1) time per week. Any such borrowing pursuant to this Section 2.1 and/or purchase pursuant to Section 2.11(c)(vii)(C) shall occur on the account same day. For the avoidance of Borrower at doubt, on any such day, the Principal Office designated by Administrative Agent Company may either borrow pursuant to this Section 2.1, purchase pursuant to Section 2.11(c)(vii)(C), or such other account as may be designated in writing to Administrative Agent by Borrowerdo both.

Appears in 1 contract

Samples: Credit Agreement (On Deck Capital, Inc.)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(dSections 2.2(b)(v), 2.2(b)(viii) and 2.3(d), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 150,000 and integral multiples of $1,000,000 50,000 in excess of that amountamount (or such lesser amounts as may be necessary pursuant to Sections 2.2(b)(v) and (viii)), and Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 150,000 and integral multiples of $1,000,000 50,000 in excess of that amountamount (or such lesser amounts as may be necessary pursuant to Sections 2.2(b)(v) and (viii)). (ii) Subject to Section 3.3(b), whenever Whenever the Borrower desires that the Lenders make Revolving Loans, the Borrower shall deliver to the Administrative Agent a fully executed and delivered Funding Notice (x) no later than 1:00 2:00 p.m. (New York City time) at least three Business Days in advance of the proposed Credit Date in the case of a Eurodollar Rate Loan and at least one (y) no later than 12:00 (noon) (New York City time) on the Business Day in advance of the proposed Credit Date in the case of a Base Rate Loan (including an Agent Advance) (provided that, with respect to any such Funding Notice to be delivered by the Borrower in respect of the Closing Date, such Funding Notice shall be delivered no later than 10:00 a.m. (New York City time) on the Closing Date). Except as otherwise provided herein, a Funding Notice for a Revolving Loan that is a Base Eurodollar Rate LoanLoan shall be irrevocable on and after the related Interest Rate Determination Date, and the Borrower shall be bound to make a borrowing in accordance therewith. (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with and the applicable interest rate, shall be promptly provided by the Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day as Administrative Agent’s receipt of such Notice from Borrowerfacsimile. (iv) Each Lender shall make the amount of its Revolving Loan available to the Administrative Agent not later than 12:00 1:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day immediately available funds in Dollars, at the Principal Office designated by Administrative Agent’s Principal Office. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, the Administrative Agent shall make the proceeds of such Revolving Loans available to the Borrower on the applicable Credit Date by causing an amount of same day immediately available funds in Dollars, Dollars equal to the proceeds of all such Revolving Loans received by the Administrative Agent from the Lenders to be credited to the account of the Borrower at the Administrative Agent’s Principal Office designated by Administrative Agent or such other account as may be designated in writing to the Administrative Agent by the Borrower; provided that, if, on the date of any borrowing of Revolving Loans, any Issuing Bank (or the bank issuing a Bank Letter of Credit) has made any payment or disbursement under any Letter of Credit issued by it that has not been reimbursed by the Borrower or there are Swing Line Loans then outstanding, then the proceeds of such Revolving Loans shall be applied, first, to the payment in full of any payment or disbursement under any Letter of Credit that has not been reimbursed by the Borrower, second, to the payment in full of any such Swing Line Loans, and third, to the Borrower as otherwise provided above.

Appears in 1 contract

Samples: Revolving Credit and Guaranty Agreement (REV Group, Inc.)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d2.4(e), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount, and Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount. (ii) Subject to Section 3.3(b), whenever Borrower Whenever the Company desires that Lenders make Revolving LoansLoans to any of the Borrowers, Borrower the Company shall deliver to Administrative Agent a fully executed and delivered Funding Notice no later than 1:00 p.m. 10:00 a.m. (New York City time) at least three Business Days in advance of the proposed Credit Date in the case of a Eurodollar Rate Loan Loan, and no later than 2:00 p.m. (New York City time) at least one Business Day in advance of the proposed Credit Date in the case of a Revolving Loan that is a Base Rate Loan. Except as otherwise provided herein, a Funding Notice for a Revolving Loan that is a Eurodollar Rate Loan shall be irrevocable on and after the related Interest Rate Determination Date, and if the Borrowers fail to make a borrowing in accordance therewith, the Borrowers will indemnify the Lenders in accordance with 2.18(c) hereof. (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Lender’s 's Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. 10:00 a.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day as Administrative Agent’s 's receipt of such Notice from Borrowerthe Company. (iv) Each Lender shall make the amount of its Revolving Loan Loans available to Administrative Agent not later than 12:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in Dollars, at the Principal Office designated by Administrative Agent's Principal Office. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Agent shall make the proceeds of such Revolving Loans available to Borrower the Borrowers on the applicable Credit Date by causing an amount of same day funds in Dollars, Dollars equal to the proceeds of all such Revolving Loans received by Administrative Agent from Lenders to be credited to the account of Borrower the CREDIT AND GUARANTY AGREEMENT EXECUTION 60 Borrowers at the Administrative Agent's Principal Office designated by Administrative Agent or such other account as may be designated in writing to Administrative Agent by Borrowerthe Company.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (International Steel Group Inc)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d), Revolving Loans that are (A) Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount, Revolving Loans that are (B) Eurodollar Rate Loans denominated in Dollars shall be in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount and (C) denominated in Canadian Dollars shall be in an aggregate minimum amount of C$5,000,000 and integral multiples of C$1,000,000 in excess of that amount., or such lesser amount that equals the entire amount of a reimbursement of a Canadian Dollar-denominated Letter of Credit; (ii) Subject to Section 3.3(b), whenever Borrower desires that Revolving Lenders make Revolving Loans, Borrower shall deliver to Administrative Agent a fully executed and delivered Funding Notice no later than 1:00 p.m. 10:00 a.m. (New York City time) at least three Business Days in advance of the proposed Credit Date in the case of a Revolving Loan that is a Eurodollar Rate Loan Loan, and at least one Business Day in advance of the proposed Credit Date in the case of a Revolving Loan that is a Base Rate Loan or a Canadian Prime Rate Loan. Except as otherwise provided herein, a Funding Notice for a Revolving Loan that is a Eurodollar Rate Loan shall be irrevocable on and after the related Interest Rate Determination Date, and Borrower shall be bound to make a borrowing in accordance therewith. (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Revolving Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Revolving Lender by telefacsimile facsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. 10:00 a.m. (New York City time)) not later than 2:00 3:00 p.m. (New York City time) on the same day as Administrative Agent’s receipt of such Notice from Borrower; provided, however, that if, on the date the Funding Notice with respect to such Revolving Loans is given by Borrower, there are L/C Borrowings outstanding, then the proceeds of such Revolving Loan, first, shall be applicable to the payment in full of any such L/C Borrowing and second, shall be made available to Borrower as provided below. (iv) Each Revolving Lender shall make the amount of its Revolving Loan available to Administrative Agent not later than 12:00 1:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds Same Day Funds in Dollars or Canadian Dollars, as applicable, at the Principal Office designated by of Administrative Agent. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Agent shall make the proceeds of such Revolving Loans available to Borrower on the applicable Credit Date by causing an amount of same day funds Same Day Funds in Dollars or Canadian Dollars, as applicable, equal to the proceeds of all such Revolving Loans received by Administrative Agent from Revolving Lenders to be credited to the account of Borrower at the Principal Office designated by Administrative Agent or such other account as may be designated in writing to Administrative Agent by Borrower, provided that with respect to any borrowing of a Revolving Loan made on the Funding Date, Administrative Agent will make such funds available to Borrower in accordance with the Funding Date Funds Flow Memorandum. (v) Each Revolving Lender at its option may make any Revolving Loans by causing any domestic or foreign branch or Affiliate of such Lender to make such Revolving Loans; provided that any exercise of such option shall not affect the obligation of Borrower to repay such Revolving Loans in accordance with the terms of this Agreement; and provided, further, that, for the avoidance of doubt, each Revolving Lender exercising such option shall continue to be required to comply with its obligations under Section 2.21.

Appears in 1 contract

Samples: Loan Agreement (Atlantic Power Corp)

Borrowing Mechanics for Revolving Loans. (ia) Except pursuant to Section 2.4(d)2.10, Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 250,000 and integral multiples of $1,000,000 100,000 in excess of that amount, and Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 500,000 and integral multiples of $1,000,000 100,000 in excess of that amount. (iib) Subject to Section 3.3(b), whenever Whenever Borrower desires that Lenders make Revolving Loans, Borrower shall deliver to Administrative Agent a fully executed and delivered Funding Notice no later than 1:00 p.m. 10:00 a.m. (New York City time) at least three Business Days in advance of the proposed Credit Date in the case of a Eurodollar Rate Loan Loan, and at least one Business Day in advance of the proposed Credit Date in the case of a Revolving Loan that is a Base Rate Loan. Except as otherwise provided herein, a Funding Notice for a Revolving Loan that is a Eurodollar Rate Loan shall be irrevocable on and after the related Interest Rate Determination Date, and Borrower shall be bound to make a borrowing in accordance therewith. (iiic) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. 10:00 a.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day as Administrative Agent’s receipt of such Notice from Borrower. (ivd) Each Lender with a Revolving Commitment shall make the amount of its Revolving Loan available to Administrative Agent not later than 12:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in Dollars, at the Principal Office designated by Administrative Agent’s Principal Office. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Agent shall make the proceeds of such Revolving Loans available to Borrower on the applicable Credit Date by causing an amount of same day funds in Dollars, Dollars equal to the proceeds of all such Revolving Loans received by Administrative Agent from Lenders to be credited to the an account of Borrower at the Principal Office designated by Administrative Agent or such other account as may be designated in writing to Administrative Agent by Borrower.

Appears in 1 contract

Samples: First Lien Credit and Guaranty Agreement (Paramount Acquisition Corp)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum principal amount of $5,000,000 500,000 and integral multiples of $1,000,000 100,000 in excess of that amount, and Revolving Loans that are Eurodollar LIBOR Rate Loans shall be in an aggregate minimum principal amount of $5,000,000 500,000 and integral multiples of $1,000,000 100,000 in excess of that amount. (ii) Subject to Section 3.3(b), whenever Whenever Borrower desires that Lenders make Revolving Loans, Borrower shall deliver to Administrative Agent a fully executed and delivered Funding Notice no later than 1:00 p.m. 10:00 a.m. (New York City time) at least three Business Days in advance of the proposed Credit Date in the case of a Eurodollar LIBOR Rate Loan Loan, and at least one Business Day in advance of the proposed Credit Date in the case of a Revolving Loan that is a Base Rate Loan. Except as otherwise provided herein, a Funding Notice for a Revolving Loan that is a LIBOR Rate Loan shall be irrevocable on and after the related Interest Rate Determination Date, and Borrower shall be bound to make a borrowing in accordance therewith. Notwithstanding the foregoing, a Funding Notice for a Revolving Loan delivered by Borrower may state that such Funding Notice is conditioned upon the effectiveness of other transactions, in which case such Funding Notice may be revoked by Borrower (by notice to Administrative Agent on or prior to the specified effective date) if such condition is not satisfied, subject only to payment by Borrower of any breakage in accordance with Section 2.18(c) (if and to the extent applicable). (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be promptly provided by Administrative Agent to each applicable Lender by electronic mail or telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day as after Administrative Agent’s receipt of such Funding Notice from Borrower. (iv) Each Lender shall make the amount of its Revolving Loan available to Administrative Agent not later than 12:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in Dollars, at the Principal Office designated by Administrative Agent’s Principal Office. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Agent shall make the proceeds of such Revolving Loans available to Borrower on the applicable Credit Date by causing an amount of same day funds in Dollars, Dollars equal to the proceeds of all such Revolving Loans received by Administrative Agent from Lenders to be credited to the account of Borrower at the Administrative Agent’s Principal Office designated by Administrative Agent or such other account as may shall be designated in writing to Administrative Agent by Borrower.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (GPB Holdings II, LP)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d2.3(d), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount, and Revolving Loans that are Eurodollar Rate SOFR Loans shall be in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount. (ii) Subject to Section 3.3(b), whenever Whenever Borrower desires that Lenders make Revolving Loans, the Borrower shall deliver to the Administrative Agent a fully executed and delivered Funding Borrowing Notice no later than 1:00 2:00 p.m. (New York City time) at least three (3) Business Days in advance of the proposed Credit Date (or such shorter time as is agreed to by the Administrative Agent hereunder) in the case of a Eurodollar Rate Loan SOFR Loan, and at least one (1) Business Day in advance of the proposed Credit Date (or such shorter time as is agreed to by the Administrative Agent hereunder) in the case of a Revolving Loan that is a Base Rate Loan. Except as otherwise provided herein, a Borrowing Notice for a Revolving Loan that is a SOFR Loan shall be irrevocable on and after the related Periodic Term SOFR Determination Day or Base Rate Term SOFR Determination Day, as applicable, and the Borrower shall be bound to make a borrowing in accordance therewith. (iii) Notice of receipt of each Funding Borrowing Notice in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by the Administrative Agent to each applicable Lender by telefacsimile e-mail with reasonable promptness, but (provided the Administrative Agent shall have received such notice by 1:00 p.m. 10:00 a.m. (New York City time)) not later than 2:00 p.m. (New York City time) and, in any event, no later than 4:00 p.m. (New York City time) on the same day as the Administrative Agent’s receipt of such Borrowing Notice from the Borrower. (iv) Each Lender shall make the amount of its Revolving Loan available to the Administrative Agent not later than 12:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in Dollars, at the Principal Office designated by the Administrative Agent. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, the Administrative Agent shall make the proceeds of such Revolving Loans available to the Borrower on the applicable Credit Date by causing an amount of same day funds in Dollars, Dollars equal to the proceeds of all such Revolving Loans received by the Administrative Agent from Lenders to be credited to the account of the Borrower (or its designee) at the Principal Office designated by the Administrative Agent or such other account as may be designated in writing to the Administrative Agent by the Borrower.

Appears in 1 contract

Samples: Revolving Credit Agreement (Las Vegas Sands Corp)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 500,000 and integral multiples of $1,000,000 250,000 in excess of that amount, and Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 500,000 and integral multiples of $1,000,000 250,000 in excess of that amount. (ii) Subject to Section 3.3(b), whenever Borrower Whenever Company desires that Lenders make Revolving Loans, Borrower Company shall deliver to Administrative Agent a fully executed and delivered Funding Notice no later than 1:00 p.m. 10:00 a.m. (New York City time) at least three Business Days in advance of the proposed Credit Date in the case of a Eurodollar Rate Loan Loan, and at least one Business Day in advance of the proposed Credit Date in the case of a Revolving Loan that is a Base Rate Loan. Except as otherwise provided herein, a Funding Notice for a Revolving Loan that is a Eurodollar Rate Loan shall be irrevocable on and after the related Interest Rate Determination Date, and Company shall be bound to make a borrowing in accordance therewith. (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Lender by telefacsimile or electronic transmission means with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. 10:00 a.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day as Administrative Agent’s receipt of such Notice from BorrowerCompany. (iv) Each Lender shall make the amount of its Revolving Loan available to Administrative Agent not later than 12:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in Dollars, at the Principal Office designated by Administrative Agent. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Agent shall make the proceeds of such Revolving Loans available to Borrower Company on the applicable Credit Date by causing an amount of same day funds in Dollars, Dollars equal to the proceeds of all such Revolving Loans received by Administrative Agent from Lenders to be credited to the account of Borrower at the Principal Office designated by Administrative Agent or such other account Company as may be designated in writing to Administrative Agent by BorrowerCompany.

Appears in 1 contract

Samples: Credit Agreement (Covanta Holding Corp)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount, Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount500,000. (ii) Subject to Section 3.3(b), whenever Whenever the Borrower desires that the Lenders make Revolving Loans, the Borrower shall deliver to the Administrative Agent and the Lead Agents a fully executed and delivered Funding Notice together with a Borrowing Base Certificate no later than 1:00 p.m. (New York City time) at least three two (2) Business Days in advance of the proposed Credit Date in Date. Each such Funding Notice shall be delivered reflecting sufficient Revolving Availability for the case of a Eurodollar Rate Loan and at least one Business Day in advance of the proposed Credit Date in the case of a requested Revolving Loan that is a Base Rate LoanLoans. (iii) Notice of receipt of each Funding Notice and Borrowing Base Certificate in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rateInterest Rate, shall be provided by the Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day as the Administrative Agent’s receipt of such Funding Notice from Borrowerthe Borrower (provided the Administrative Agent shall have received such notice from the Borrower by 1:00 p.m. (New York City time)). (iv) Each Lender shall make the amount of its Revolving Loan available to the Administrative Agent not later than 12:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in Dollars, at the Principal Office designated by Administrative Agent’s Principal Office. Except as provided herein, upon satisfaction or waiver by the Lead Agents of the conditions precedent specified herein, the Administrative Agent shall make the proceeds of such Revolving Loans available to the Borrower on the applicable Credit Date by causing an amount of same day funds in Dollars, Dollars equal to the proceeds of all such Revolving Loans received by the Administrative Agent from the Lenders to be credited to the account of the Borrower at the Administrative Agent’s Principal Office designated by Administrative Agent or such other account as may be designated in writing to the Administrative Agent by the Borrower. (v) Unless otherwise permitted by the Lead Agents in each of their sole and absolute discretion and subject to an administration fee of $2,500 per Revolving Loan, no more than two (2) Revolving Loans shall be made per calendar week.

Appears in 1 contract

Samples: Revolving Credit Agreement (Consumer Portfolio Services Inc)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount, Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount. (ii) Subject to Section 3.3(b), whenever Borrower desires that Lenders make Revolving Loans3.03, Borrower shall deliver to Administrative Agent a fully executed and delivered irrevocable Funding Notice no later than 1:00 p.m. 12:00 noon (New York City time) at least ), three Business Days prior to the applicable Credit Date in advance the case of Eurodollar RateSOFR Loans and no later than 12:00 noon (New York City time), on the proposed Credit Date in the case of a Eurodollar Base Rate Loan and at least one Business Day in advance Loans. Promptly upon receipt by Administrative Agent of such Funding Notice, Administrative Agent shall notify each Revolving Lender of the proposed Credit Date in borrowing. Borrower shall request, and the case of a Revolving Loan that is a Base Rate LoanLenders shall make, no more than four borrowings per calendar month, excluding all conversions and continuations pursuant to Section 2.06. (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day as Administrative Agent’s receipt of such Notice from Borrower. (ivii) Each Revolving Lender shall make the amount of its Revolving Loan available to Administrative Agent not later than 12:00 (A) in the case of Base Rate Loans, 2:00 p.m. (New York City time) on the applicable Credit Date and (B) in the case of Eurodollar RateSOFR Loans, 12:00 noon (New York City time) on the applicable Credit Date, by wire transfer of same day funds in Dollars, at the Principal Office designated by Administrative Agent. Except as provided herein, upon Upon satisfaction or waiver of the conditions precedent specified herein, Administrative Agent shall make the proceeds of such the Revolving Loans available to Borrower on the applicable Credit Date by causing an amount of same day funds in Dollars, Dollars equal to the proceeds of all such Revolving Loans received by Administrative Agent from Revolving Lenders to be credited to the account of Borrower at the Principal Office designated by Administrative Agent Borrower in the applicable Funding Notice or to such other account as may be designated in writing to Administrative Agent by BorrowerXxxxxxxx. (iii) Each borrowing of Revolving Loans shall be in an aggregate amount of $1,000,000 or a whole multiple of $500,000 in excess thereof (or such lesser amount equal to the remaining amount available under the total Revolving Commitments or as Administrative Agent may otherwise agree).

Appears in 1 contract

Samples: Credit Agreement (Sculptor Capital Management, Inc.)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 500,000 and integral multiples of $1,000,000 100,000 in excess of that amount, and Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 1,000,000 and integral multiples of $1,000,000 250,000 in excess of that amount. (ii) Subject to Section 3.3(b), whenever Borrower Whenever Company desires that Lenders make Revolving Loans, Borrower Company shall deliver to Administrative Agent a fully executed and delivered Funding Notice no later than 1:00 p.m. 10:00 a.m. (New York City time) at least three Business Days in advance of the proposed Credit Date in the case of a Eurodollar Rate Loan Loan, and at least one Business Day in advance of the proposed Credit Date in the case of a Revolving Loan that is a Base Rate LoanLoan (or, in connection with any Advances made on the Closing Date, such shorter period as Administrative Agent shall approve). Except as otherwise provided herein, a Funding Notice for a Revolving Loan that is a Eurodollar Rate Loan shall be irrevocable on and after the related Interest Rate Determination Date, and Company shall be bound to make a borrowing in accordance therewith. (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 12:00 p.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day as Administrative Agent’s receipt of such Notice from BorrowerCompany. (iv) Each Lender shall make the amount of its Revolving Loan available to Administrative Agent not later than 12:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in Dollars, at the Principal Office designated by Administrative Agent, or, with respect to any Advances made on the Closing Date, by such time and at such location as the Administrative Agent shall otherwise reasonably agree, including, without limitation, immediately prior to the Closing Date, to an escrow or restricted account subject to escrow, release and collateral documentation reasonably satisfactory to the Administrative Agent, in connection with the Tender Offer. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Agent shall make the proceeds of such Revolving Loans available to Borrower Company on the applicable Credit Date by causing an amount of same day funds in Dollars, Dollars equal to the proceeds of all such Revolving Loans received by Administrative Agent from Lenders to be credited to the account of Borrower Company at the Principal Office designated by Administrative Agent or such other account as may be designated in writing to Administrative Agent by BorrowerCompany.

Appears in 1 contract

Samples: First Lien Credit and Guaranty Agreement (X Rite Inc)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount, and Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount. (ii) Subject to Section 3.3(b), whenever Whenever the Borrower desires that Lenders make Revolving Loans, the Borrower shall deliver to Administrative Agent a fully executed and delivered Funding Notice no later than 1:00 p.m. 10:00 a.m. (New York City time) at least three (3) Business Days in advance of the proposed Credit Date in the case of a Eurodollar Rate Loan Loan, and at least one (1) Business Day in advance of the proposed Credit Date in the case of a Revolving Loan that is a Base Rate Loan. Except as otherwise provided herein, a Funding Notice for a Revolving Loan that is a Eurodollar Rate Loan shall be irrevocable on and after the related Interest Rate Determination Date, and the Borrower shall be bound to make a borrowing in accordance therewith. (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by the Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided the Administrative Agent shall have received such notice by 1:00 p.m. 10:00 a.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day as the Administrative Agent’s receipt of such Funding Notice from the Borrower. (iv) Each Lender shall make the amount of its Revolving Loan available to the Administrative Agent not later than 12:00 p.m. noon (New York City time) on the applicable Credit Date by wire transfer of same day funds in Dollars, at the Principal Office designated by the Administrative Agent. Except as provided herein, upon satisfaction or waiver of the applicable conditions precedent specified herein, the Administrative Agent shall make the proceeds of such Revolving Loans available to the Borrower on the applicable Credit Date by causing an amount of same day funds in Dollars, Dollars equal to the proceeds of all such Revolving Loans received by the Administrative Agent from Lenders to be credited to the account of the Borrower at the Principal Office designated by the Administrative Agent or such other account as may be designated in writing to the Administrative Agent by the Borrower.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Hologic Inc)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d)2.4, Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 2,500,000 and integral multiples of $1,000,000 in excess of that amount, Revolving Loans that are Eurodollar Rate Loans shall be thereof (when aggregated for all Lenders in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amountconnection with a single Credit Extension). (ii) Subject to Section 3.3(b), whenever Borrower Whenever Company desires that Lenders make Revolving Loans, Borrower Company shall deliver to Administrative Agent a fully executed and delivered Funding Notice no later than 1:00 p.m. 12:00 Noon (New York City time) at least three Business Days in advance of the proposed Credit Date in the case of a Eurodollar Rate Loan Loan, and at least one Business Day in advance of the proposed Credit Date in the case of a Revolving Loan that is a Base Rate Loan. Except as otherwise provided herein, a Funding Notice for a Revolving Loan shall be irrevocable on and after the related Interest Rate Determination Date, and Company shall be bound to make a borrowing in accordance therewith. (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day as Administrative Agent’s receipt of such Notice from Borrower. (iv) Each Lender shall make the amount of its Revolving Loan available to Administrative Agent not later than 12:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in Dollars, at the Principal Office designated by Administrative Agent’s Principal Office. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Agent shall make the proceeds of such Revolving Loans available to Borrower Company on the applicable Credit Date by causing an amount of same day funds in Dollars, Dollars equal to the proceeds of all such Revolving Loans received by Administrative Agent from Lenders to be credited to the account of Borrower Company at the Administrative Agent’s Principal Office designated by Administrative Agent or such other account as may be designated in writing to Administrative Agent by BorrowerCompany.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Houghton Mifflin Co)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d), Revolving Loans that are (A) Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount, Revolving Loans that are (B) Eurodollar Rate Loans denominated in Dollars shall be in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount and (C) denominated in Canadian Dollars shall be in an aggregate minimum amount of C$5,000,000 and integral multiples of C$1,000,000 in excess of that amount., or such lesser amount that equals the entire amount of a reimbursement of a Canadian Dollar-denominated Letter of Credit; (ii) Subject to Section 3.3(b), whenever Borrower desires that Revolving Lenders make Revolving Loans, Borrower shall deliver to Administrative Agent a fully executed and delivered Funding Notice no later than 1:00 p.m. 10:00 a.m. (New York City time) at least three Business Days in advance of the proposed Credit Date in the case of a Revolving Loan that is a Eurodollar Rate Loan Loan, and at least one Business Day in advance of the proposed Credit Date in the case of a Revolving Loan that is a Base Rate Loan or a Canadian Prime Rate Loan. Except as otherwise provided herein, a Funding Notice for a Revolving Loan that is a Eurodollar Rate Loan shall be irrevocable on and after the related Interest Rate Determination Date, and Borrower shall be bound to make a borrowing in accordance therewith. (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Revolving Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Revolving Lender by telefacsimile facsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. 10:00 a.m. (New York City time)) not later than 2:00 3:00 p.m. (New York City time) on the same day as Administrative Agent’s receipt of such Notice from Borrower; provided, however, that if, on the date the Funding Notice with respect to such Revolving Loans is given by Borrower, there are L/C Borrowings outstanding, then the proceeds of such Revolving Loan, first, shall be applicable to the payment in full of any such L/C Borrowing and second, shall be made available to Borrower as provided below. (iv) Each Revolving Lender shall make the amount of its Revolving Loan available to Administrative Agent not later than 12:00 1:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds Same Day Funds in Dollars or Canadian Dollars, as applicable, at the Principal Office designated by of Administrative Agent. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Agent shall make the proceeds of such Revolving Loans available to Borrower on the applicable Credit Date by causing an amount of same day funds Same Day Funds in Dollars or Canadian Dollars, as applicable, equal to the proceeds of all such Revolving Loans received by Administrative Agent from Revolving Lenders to be credited to the account of Borrower at the Principal Office designated by Administrative Agent or such other account as may be designated in writing to Administrative Agent by Borrower, provided that with respect to any borrowing of a Revolving Loan made on the Funding Date, Administrative Agent will make such funds available to Borrower in accordance with the Funding Date Funds Flow Memorandum. (v) Each Revolving Lender at its option may make any Revolving Loans by causing any domestic or foreign branch or Affiliate of such Lender to make such Revolving Loans; provided that any exercise of such option shall not affect the obligation of Borrower to repay such Revolving Loans in accordance with the terms of this Agreement; and provided, further, that, for the avoidance of doubt, each Revolving Lender exercising such option shall continue to be required to comply with its obligations under Section 2.22.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Atlantic Power Corp)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d), Each Revolving Loans that are Base Rate Loans Loan shall be made in an aggregate minimum amount as part of $5,000,000 and integral multiples a Borrowing consisting of $1,000,000 in excess of that amount, Revolving Loans that are of the same Type made by the Revolving Lenders proportionately to their applicable Pro Rata Shares. At the commencement of each Interest Period for any Eurodollar Rate Loans Revolving Borrowing, such Borrowing shall be in an aggregate minimum amount of $5,000,000 and 1,000,000 or an integral multiples multiple of $1,000,000 500,000 in excess of such amount or, if less, the maximum amount remaining available under the Revolving Commitments; provided that a Eurodollar Rate Revolving Borrowing that results from a continuation of an outstanding Eurodollar Rate Revolving Borrowing may be in an aggregate amount that is equal to the amount of such outstanding Borrowing. At the time each Base Rate Revolving Borrowing is made, such Borrowing shall be in an aggregate amount of $500,000 or an integral multiple of $100,000 in excess of such amount; provided that such Borrowing may be in an aggregate amount that is equal to the entire unused balance of the Total Revolving Commitments or that is required to finance the reimbursement of a drawing under a Letter of Credit as contemplated by Section 2.4(d). (ii) Subject to Section 3.3(b)To request a Revolving Borrowing, whenever Borrower desires that Lenders make Revolving Loans, the Borrower shall deliver to Administrative the Revolving Facility Agent a fully completed and executed and delivered Funding Notice no (A) in the case of a Eurodollar Rate Revolving Borrowing, not later than 1:00 p.m. 12:00 noon (New York City time) at least three Business Days in advance of the proposed Credit Date (which shall be a Business Day) and (B) in the case of a Eurodollar Base Rate Loan and at least one Business Day in advance of Revolving Borrowing, not later than 12:00 noon (New York City time) on the proposed Credit Date (which shall be a Business Day). In lieu of delivering a Funding Notice, the Borrower may give the Revolving Facility Agent, not later than the applicable time set forth above, telephonic notice of any proposed Revolving Borrowing; provided that such telephonic notice shall be promptly confirmed in writing by delivery to the case Revolving Facility Agent of a fully completed and executed Funding Notice. Promptly upon receipt by the Revolving Facility Agent of a Funding Notice in accordance with this paragraph, the Revolving Facility Agent shall notify each Revolving Lender of the details thereof and of the amount of such Lender’s Revolving Loan that is to be made as part of the requested Revolving Borrowing. Following delivery of a Base Funding Notice for a Eurodollar Rate LoanRevolving Borrowing, any failure to make such Borrowing shall be subject to Section 2.18(c). (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with Each Lender shall make the principal amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall Revolving Loan required to be provided made by Administrative it hereunder on any Credit Date available to the Revolving Facility Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day as Administrative Agent’s receipt of such Notice from Borrower. (iv) Each Lender shall make the amount of its Revolving Loan available to Administrative Agent not later than 12:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in Dollars, at the Principal Office designated by Administrative Agent. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Agent shall make the proceeds of such Revolving Loans available to Borrower on the applicable Credit Date by causing an amount of same day funds in Dollars, equal to the proceeds of all such Revolving Loans received by Administrative Agent from Lenders to be credited Dollars to the account of Borrower at the Principal Office Revolving Facility Agent most recently designated by Administrative it for such purpose by notice to the Lenders. The Revolving Facility Agent or will make each such other Revolving Loan available to the Borrower by promptly remitting the amounts so received, in like funds, to the account specified by the Borrower in the applicable Funding Notice (or, in the case of a Base Rate Revolving Borrowing specified by the Borrower in the applicable Funding Notice to finance reimbursement of a drawing under a Letter of Credit as may be designated in writing contemplated by Section 2.4(d), to Administrative Agent by Borrowerthe applicable Issuing Bank).

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Tivity Health, Inc.)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount, Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount500,000. (ii) Subject to Section 3.3(b), whenever Whenever the Borrower desires that the Lenders make Revolving Loans, the Borrower shall deliver to the Administrative Agent a fully executed and delivered Funding Notice together with a Borrowing Base Certificate no later than 1:00 p.m. (New York City time) at least three two (2) Business Days in advance of the proposed Credit Date in Date. Each such Funding Notice shall be delivered reflecting sufficient Revolving Availability for the case of a Eurodollar Rate Loan and at least one Business Day in advance of the proposed Credit Date in the case of a requested Revolving Loan that is a Base Rate LoanLoans. (iii) Notice of receipt of each Funding Notice and Borrowing Base Certificate in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rateInterest Rate, shall be provided by the Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day as the Administrative Agent’s receipt of such Funding Notice from Borrowerthe Borrower (provided the Administrative Agent shall have received such notice from the Borrower by 1:00 p.m. (New York City time)). (iv) Each Lender shall make the amount of its Revolving Loan available to the Administrative Agent not later than 12:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in Dollars, at the Principal Office designated by Administrative Agent’s Principal Office. Except as provided herein, upon satisfaction or waiver by the Administrative Agent of the conditions precedent specified herein, the Administrative Agent shall make the proceeds of such Revolving Loans available to the Borrower on the applicable Credit Date by causing an amount of same day funds in Dollars, Dollars equal to the proceeds of all such Revolving Loans received by the Administrative Agent from the Lenders to be credited to the account of the Borrower at the Administrative Agent’s Principal Office designated by Administrative Agent or such other account as may be designated in writing to the Administrative Agent by the Borrower. (v) Unless otherwise permitted by the Administrative Agent in its sole and absolute discretion and subject to an administration fee of $2,500 per Revolving Loan, no more than two (2) Revolving Loans shall be made per calendar week.

Appears in 1 contract

Samples: Revolving Credit Agreement (Consumer Portfolio Services Inc)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d2.3(d), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 100,000 and integral multiples of $1,000,000 100,000 in excess of that amount, and Revolving Loans that are Eurodollar LIBOR Rate Loans shall be in an aggregate minimum amount of $5,000,000 100,000 and integral multiples of $1,000,000 100,000 in excess of that amount. (ii) Subject to Section 3.3(b), whenever Borrower Whenever Company desires that Lenders make Revolving Loans, Borrower Company shall deliver to Administrative Agent a fully executed and delivered Funding Notice no later than 1:00 12:00 p.m. (New York City time) at least three (3) Business Days in advance of the proposed Credit Date in the case of a Eurodollar LIBOR Rate Loan Loan, and at least one (1) Business Day in advance of the proposed Credit Date in the case of a Revolving Loan that is a Base Rate Loan. Except as otherwise provided herein, a Funding Notice for a Revolving Loan that is a LIBOR Rate Loan shall be irrevocable on and after the related Interest Rate Determination Date, and Company shall be bound to make a borrowing in accordance therewith. (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 12:00 p.m. (New York City time)) not later than 2:00 4:00 p.m. (New York City time) on the same day as Administrative Agent’s receipt of such Notice from BorrowerCompany. (iv) Each Lender shall make the amount of its Revolving Loan available to Administrative Agent not later than 12:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in Dollars, at the Administrative Credit and Guaranty Agreement Agent’s Principal Office designated by Administrative AgentOffice. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Agent shall make the proceeds of such Revolving Loans available to Borrower Company on the applicable Credit Date by causing an amount of same day funds in Dollars, Dollars equal to the proceeds of all such Revolving Loans received by Administrative Agent from Lenders to be credited to the account of Borrower Company at the Administrative Agent’s Principal Office designated by Administrative Agent or such other account as may be designated in writing to Administrative Agent by BorrowerCompany.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Del Frisco's Restaurant Group, LLC)

Borrowing Mechanics for Revolving Loans. (i) Except Subject to Article IV, each Borrowing of Revolving Loans shall be made upon the Borrower’s irrevocable notice to the Administrative Agent, which may only be given in writing. Each such notice must be received by the Administrative Agent not later than (A) 1:00 p.m. three Business Days prior to the requested date of any Borrowing of SOFR Rate Loans, and (B) 1:00 p.m. one Business Day prior to the requested date of any Borrowing of Base Rate Loans. Each notice by the Borrower pursuant to this Section 2.4(d)2.02(b) must be delivered to the Administrative Agent in the form of a Committed Loan Notice, Revolving appropriately completed and signed by a Responsible Officer of the Borrower. Each Borrowing of SOFR Rate Loans that are shall be in a minimum principal amount of $500,000 or a whole multiple of $100,000 in excess thereof. Each Borrowing of Base Rate Loans shall be made in an aggregate a minimum principal amount of $5,000,000 and integral multiples 500,000 or a whole multiple of $1,000,000 100,000 in excess thereof. Each Committed Loan Notice shall specify (1) the requested date of that amountthe Borrowing (which shall be a Business Day), (2) the principal amount of Revolving Loans that are Eurodollar Rate to be borrowed, (3) the Type of Revolving Loans to be borrowed and (4) if applicable, the duration of the Interest Period with respect thereto. If the Borrower fails to specify a Type of Revolving Loan in a Committed Loan Notice, then in the case of Revolving Loans, the applicable Revolving Loans shall be made as Base Rate Loans. If the Borrower requests a Borrowing of SOFR Rate Loans in any such Committed Loan Notice, but fails to specify an aggregate minimum amount Interest Period for such SOFR Rate Loans, the Borrower will be deemed to have specified an Interest Period of $5,000,000 and integral multiples of $1,000,000 in excess of that amountone month. (ii) Subject to Section 3.3(b)Following receipt of a Committed Loan Notice, whenever Borrower desires that Lenders make the Administrative Agent shall promptly notify each Lender of the amount of its Pro Rata Share of the applicable Revolving Loans, Borrower shall deliver to Administrative Agent a fully executed and delivered Funding Notice no later than 1:00 p.m. (New York City time) at least three Business Days in advance of the proposed Credit Date in . In the case of a Eurodollar Rate Loan and at least one Business Day in advance of the proposed Credit Date in the case of a Revolving Loan that is a Base Rate Loan. (iii) Notice of receipt of each Funding Notice in respect of Revolving LoansBorrowing, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day as Administrative Agent’s receipt of such Notice from Borrower. (iv) Each Appropriate Lender shall make the amount of its Revolving Loan available to the Administrative Agent in Same Day Funds at the Administrative Agent’s Office not later than 12:00 p.m. (New York City time) 1:00 p.m., on the Business Day specified in the applicable Credit Date Committed Loan Notice. Upon satisfaction of the applicable conditions set forth in Article IV, the Administrative Agent shall make all funds so received available to the Borrower in like funds as received by the Administrative Agent by wire transfer of same day funds such funds, in Dollars, at each case in accordance with instructions provided to (and reasonably acceptable to) the Principal Office designated by Administrative Agent. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Agent shall make by the Borrower; provided, however, that if, on the date the Committed Loan Notice with respect to such Borrowing is given by the Borrower, there are Reimbursement Obligations outstanding, then the proceeds of such Borrowing shall be applied, first, to the payment in full of any such Reimbursement Obligations, and second, to the Borrower as provided above. (iii) The failure of any Lender to make the Revolving Loans available Loan to Borrower be made by it as part of any Borrowing shall not relieve any other Lender of its obligation, if any, hereunder to make its Revolving Loan on the applicable Credit Date by causing an amount date of same day funds in Dollarssuch Borrowing, equal but no Lender shall be responsible for the failure of any other Lender to make the proceeds of all such Revolving Loans received by Administrative Agent from Lenders Loan to be credited to the account of Borrower at the Principal Office designated made by Administrative Agent or such other account as may be designated in writing to Administrative Agent by BorrowerLender on the date of any Borrowing.

Appears in 1 contract

Samples: Credit Agreement (Hornbeck Offshore Services Inc /La)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d2.03(d), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 1,000,000 and integral multiples of $1,000,000 in excess of that amount, and Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 1,000,000 and integral multiples of $1,000,000 in excess of that amount. (ii) Subject to Section 3.3(b)2.24, whenever the Borrower desires that Lenders make Revolving Loans, Borrower shall deliver to the Administrative Agent a fully executed and delivered Funding Notice no later than 1:00 p.m. 10:00 a.m. (New York City time) at least three four Business Days in advance of the proposed Credit Date in the case of a Eurodollar Rate Loan and at least one two Business Day Days in advance of the proposed Credit Date in the case of a Revolving Loan that is a Base Rate Loan. Except as otherwise provided herein, a Funding Notice for a Revolving Loan that is a Eurodollar Rate Loan shall be irrevocable on and after the related Interest Rate Determination Date, and the Borrower shall be bound to make a Borrowing in accordance therewith. Notwithstanding the foregoing, the Administrative Agent may agree to shorter time periods with respect to the Funding Notice to be delivered on the Effective Date. (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by the Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice Notice by 1:00 p.m. 10:00 a.m. (New York City time)) not later than 2:00 p.m. 11:00 a.m. (New York City time) on the same day as the Administrative Agent’s receipt of such Notice from the Borrower. (iv) Each Lender shall make the amount of its Revolving Loan available to the Administrative Agent not later than 12:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in Dollars, at the Principal Office designated by of the Administrative Agent. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, the Administrative Agent shall make the proceeds of such Revolving Loans available to the Borrower on the applicable Credit Date by causing an amount of same day funds in Dollars, Dollars equal to the proceeds of all such Revolving Loans received by the Administrative Agent from Lenders to be credited to the account of the Borrower at the Principal Office designated by the Administrative Agent or such other account as may be designated in writing to the Administrative Agent by the Borrower.

Appears in 1 contract

Samples: Revolving Credit and Guaranty Agreement (Etsy Inc)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of five hundred thousand Dollars ($5,000,000 500,000) and integral multiples of fifty thousand Dollars ($1,000,000 in excess of that amount, Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 50,000) in excess of that amount. (ii) Subject to Section 3.3(b), whenever Whenever any Borrower desires that Lenders make Revolving Loans, such Borrower shall deliver to Administrative Agent a fully executed and delivered Funding Borrowing Notice And Certificate no later than 1:00 12:00 p.m. (New York City time) at least three (3) Business Days in advance of the proposed Credit Date in the case of a Revolving Loan that is a Eurodollar Rate Loan and at least one (1) Business Day in advance of the proposed Credit Date in the case of a Revolving Loan that is a Base Rate Loan. A Borrowing Notice And Certificate for a Revolving Loan that is a Eurodollar Rate Loan shall be revocable on and after the related Interest Rate Determination Date; provided that such Borrower shall be bound to make a borrowing in accordance therewith unless such Borrower compensates Lenders in accordance with Section 2.15(c). (iii) Notice of receipt of each Funding Borrowing Notice And Certificate in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Lender by telefacsimile or electronic transmission means with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 12:00 p.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day as Administrative Agent’s receipt of such Notice from BorrowerBorrowers. (iv) Each Subject to Section 2.13(b), each Lender shall make the amount of its Revolving Loan available to Administrative Agent not later than 12:00 1:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in Dollarsfunds, at the Principal Office designated by Administrative Agent. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Agent shall make the proceeds of such Revolving Loans available to Borrower Borrowers on the applicable Credit Date by causing an amount of same day funds in Dollars, the requested currency equal to the proceeds of all such Revolving Loans received by Administrative Agent from Lenders to be credited to the account of Borrower at the Principal Office designated by Administrative Agent or such other account Borrowers as may be designated in writing to Administrative Agent by BorrowerBorrowers.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Pattern Energy Group Inc.)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d) or 2.5(d), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 1,000,000 and integral multiples of $1,000,000 in excess of that amount, and Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 1,000,000 and integral multiples of $1,000,000 in excess of that amount. (ii) Subject to Section 3.3(b), whenever Whenever Borrower desires that Lenders make Revolving Loans, Borrower shall deliver to Administrative Agent (with a copy to Collateral Agent) a fully executed and delivered Funding Notice no later than 1:00 p.m. 10:00 a.m. (New York City time) at least three Business Days in advance of the proposed Credit Date in the case of a Eurodollar Rate Loan Loan, and at least one Business Day in advance of the proposed Credit Date in the case of a Revolving Loan that is a Base Rate Loan. Except as otherwise provided herein, a Funding Notice for a Revolving Loan that is a Eurodollar Rate Loan shall be irrevocable on and after the related Interest Rate Determination Date, and Borrower shall be bound to make a borrowing in accordance therewith. (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent to Collateral Agent and each applicable Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. 10:00 a.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day as Administrative Agent’s receipt of such Notice from Borrower. (iv) Each Lender shall make the amount of its Revolving Loan available to Administrative Agent not later than 12:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in Dollars, at the Principal Office designated by Administrative Agent. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Agent shall make the proceeds of such Revolving Loans available to Borrower on the applicable Credit Date by causing an amount of same day funds in Dollars, Dollars equal to the proceeds of all such Revolving Loans received by Administrative Agent from Lenders to be credited to the account of Borrower at the Principal Office designated by Administrative Agent or such other account as may be designated in writing to Administrative Agent (with a copy to the Collateral Agent) by Borrower.

Appears in 1 contract

Samples: First Lien Credit and Guaranty Agreement (Movie Gallery Inc)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 1.0 million and integral multiples of $1,000,000 500,000 in excess of that amount, and Revolving Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 1.0 million and integral multiples of $1,000,000 500,000 in excess of that amount. (ii) Subject to Section 3.3(b), whenever Borrower Whenever Company desires that Lenders make Revolving Loans, Borrower Company shall deliver to Administrative Agent a fully executed and delivered Funding Notice no later than 1:00 p.m. (New York City time) at least three Business Days in advance of the proposed Credit Date in the case of a Eurodollar Rate Loan Loan, and at least one Business Day in advance of the proposed Credit Date in the case of a Revolving Loan that is a Base Rate Loan; provided that, with respect to any Revolving Loan to be made on the Closing Date, Company shall deliver to Administrative Agent a fully executed Funding Notice no later than 10:00 a.m. (New York City time) on the Closing Date. Except as otherwise provided herein, a Funding Notice for a Revolving Loan that is a Eurodollar Rate Loan shall be irrevocable, and Company shall be bound to make a borrowing in accordance therewith. (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Lender’s 's Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day as Administrative Agent’s receipt of such Notice from Borrower. (iv) Each Lender shall make the amount of its Revolving Loan available to Administrative Agent not later than 12:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in Dollars, at the Principal Office designated by Administrative Agent's Principal Office. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Agent shall make the proceeds of such Revolving Loans available to Borrower Company on the applicable Credit Date by causing an amount of same day funds in Dollars, Dollars equal to the proceeds of all such Revolving Loans received by Administrative Agent from Lenders to be credited to the such account of Borrower at the Principal Office designated by Administrative Agent or such other account Company as may be designated in writing to Administrative Agent by BorrowerCompany.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Medical Device Manufacturing, Inc.)

Borrowing Mechanics for Revolving Loans. (i) Except pursuant to Section 2.4(d), Class A Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 250,000, and integral multiples of $1,000,000 in excess of that amount, Class B Revolving Loans that are Eurodollar Rate Loans shall be made in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount50,000. (ii) Subject to Section 3.3(b), whenever Borrower Whenever Company desires that Lenders make Revolving Loans, Borrower Company shall deliver to Administrative Agent, each Class A Revolving Lender, the Class B Agent, the Custodian and the Paying Agent a fully executed and delivered Funding Notice no later than 1:00 p.m. 11:00 a.m. (New York City time) at least three Business Days in advance of the proposed Credit Date in the case of a Eurodollar Rate Loan and at least one (1) Business Day in advance of the proposed Credit Date in Date. Each Funding Notice shall be delivered with a Borrowing Base Certificate reflecting sufficient Class A Revolving Availability and Class B Revolving Availability, as applicable, for the case of requested Revolving Loans and a Revolving Loan that is a Borrowing Base Rate LoanReport. (iii) Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided Administrative Agent shall have received such notice by 1:00 p.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day as Administrative Agent’s receipt of such Notice from Borrower. (iv) Each Lender shall make the amount of its Revolving Loan available to Administrative the Paying Agent not later than 12:00 1:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in Dollars, at and the Principal Office designated by Administrative Agent. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Paying Agent shall make remit such funds to the proceeds of such Revolving Loans available to Borrower on the applicable Credit Date Company not later than 3:00 p.m. (New York City time) by causing an amount wire transfer of same day funds in Dollars, equal to the proceeds of all such Revolving Loans received by Administrative Agent from Lenders to be credited Dollars to the account of Borrower at the Principal Office designated by Administrative Agent or such other account as may be Company designated in writing the related Funding Notice. (iv) Company may borrow Class A Revolving Loans pursuant to Administrative Agent by Borrowerthis Section 2.1, purchase Eligible Receivables pursuant to Section 2.11(c)(vii)(C) and/or repay Revolving Loans pursuant to Section 2.11(c)(vii)(B) no more than three times a week. Company may borrow Class B Revolving Loans pursuant to this Section 2.1 no more than three times a week.

Appears in 1 contract

Samples: Credit Agreement (On Deck Capital, Inc.)

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