Borrowing Notice. Whenever the Borrower desires to obtain a Borrowing (other than in the case of a Documentary Credit) it shall give to the Agent prior written notice in the form attached as Schedule 2(A), (B) or (C), as applicable (each, a “Borrowing Notice”), specifying, as applicable: (i) the amount, currency and type or types of Accommodation desired; (ii) the details of the account of the Borrower to which payment of the Borrowing is to be wired or otherwise made, if applicable; (iii) the requested Borrowing Date; (iv) the term thereof; (v) if applicable, the Accommodation to be renewed or converted and, where such Accommodation includes any Loan, the currency thereof and the interest rate applicable thereto; (vi) if such Borrowing includes a Loan, whether it is to be a Prime Rate Loan, U.S. Base Rate Loan or a LIBOR Loan; and (vii) if such Borrowing includes a LIBOR Loan, the LIBOR Interest Period to be applicable to such Loan. The Borrowing Notice shall be given to the Agent not later than 12:00 p.m. (Toronto, Ontario time): (viii) on the applicable Borrowing Date, if the new Accommodation or any Accommodation to be renewed or converted is by way of Prime Rate Loans or U.S. Base Rate Loans. In the event such Accommodation causes a Lender to incur costs relating solely to the providing of same day notice, the Borrower shall pay such costs to such Lender immediately upon request therefor; (ix) on the Business Day preceding the applicable Borrowing Date, if the new Accommodation or any Accommodation to be renewed or converted is by way of Bankers’ Acceptances; and (x) on the third Business Day preceding the applicable Borrowing Date, if any new Accommodation or any Accommodation to be renewed or converted is a LIBOR Loan. In all other cases, the Borrowing Notice shall be given to the party entitled thereto on the applicable Borrowing Date. Any Borrowing Notice received by the Agent on any Business Day after 12:00 p.m. (Toronto, Ontario time) shall be deemed to have been given to such party on the next succeeding Business Day, unless otherwise agreed by the Lenders.
Appears in 2 contracts
Samples: Credit Agreement (Midamerican Funding LLC), Credit Agreement (Midamerican Funding LLC)
Borrowing Notice. Whenever the Borrower desires to obtain a Borrowing (other than by way of Overdraft), it shall give to the:
(a) Agent, in the case of Borrowings under this Credit Facility (other than the Letters of Credit), and
(b) Letter of Credit Lender, with a Documentary Credit) it shall give copy to the Agent Agent, in the case of Borrowings by way of Letters of Credit, prior written notice in the form attached as Schedule 2(A), (B) or (C), ) as applicable (each, a “Borrowing Notice”), specifying, as applicable:
(ic) the amount, currency and type or types of Accommodation desireddesired including, in the case of a Letter of Credit, the Letter of Credit Lender’s specific required form thereof and the particulars of the related indebtedness;
(iid) the details of Borrower’s Account at the account of the Borrower Branch to which payment of the Borrowing is to be wired or otherwise made, if applicable;
(iiie) the Person to whom any Bankers’ Acceptance or Letter of Credit is to be delivered, if applicable;
(f) the requested Borrowing Date;
(ivg) the term thereof;,
(vh) if applicable, the Accommodation to be renewed or converted and, where such Accommodation includes any Loan, the currency thereof and the interest rate applicable thereto;
(vii) if such Borrowing includes a Loan, whether it is to be a Prime Rate Loan, U.S. Base Rate Loan or a LIBOR Loan; and
(viij) if such Borrowing includes a LIBOR Loan, the LIBOR Interest Period to be applicable to such Loan; provided that the application for a Letter of Credit delivered to the Letter of Credit Lender as part of the Credit Documents with respect to such Letter of Credit, to the extent that it includes all of the information required by this Section to be provided to the Letter of Credit Lender with respect thereto, may constitute the Borrowing Notice with respect to such Letter of Credit. The Borrowing Notice shall be given to the Agent relevant party entitled to receive same not later than 12:00 p.m. (Toronto, Ontario time):10:00 a.m.:
(viiia) on the Business Day preceding the applicable Borrowing Date, Date if the new Accommodation or any Accommodation to be renewed or converted is by way of Prime Rate Loans or U.S. Base Rate Loans. In the event Loans and is a new issue or if any such Accommodation causes to be drawn, converted or rolled over has a Lender Canadian Dollar Amount in the aggregate equal to incur costs relating solely to the providing or greater than One Million Canadian Dollars (Cdn.$1,000,000) and multiples of same day notice, the Borrower shall pay such costs to such Lender immediately upon request thereforOne Million Canadian Dollars (Cdn.$1,000,000) in excess thereof;
(ixb) on the Business Day preceding the applicable Borrowing Date, Date if the new Accommodation or any Accommodation to be renewed or converted is by way of Bankers’ AcceptancesAcceptances and is a new issue or if any such Accommodation to be drawn, converted or rolled over has a Canadian Dollar Amount in the aggregate equal to or greater than Two Hundred and Fifty Thousand Canadian Dollars (Cdn.$250,000); and
(xc) on the third Business Day preceding the applicable Borrowing Date, Date if any new Accommodation or any Accommodation to be renewed or converted is a LIBOR Loan. If any Accommodation to be drawn, renewed or converted is a Letter of Credit, the Letter of Credit Lender shall be given such sufficient prior notice as such party may reasonably require in the circumstances. In all other cases, the Borrowing Notice shall be given to the party entitled thereto on the applicable Borrowing Date. Any Borrowing Notice received by the Agent or the Letter of Credit Lender, as applicable, on any Business Day after 12:00 p.m. (Toronto, Ontario time) 10:00 a.m. shall be deemed to have been given to such party on the next succeeding Business Day, unless otherwise agreed by the Lenders.
Appears in 2 contracts
Samples: Credit Agreement (Midamerican Funding LLC), Credit Agreement (Pacificorp /Or/)
Borrowing Notice. Whenever The Administrative Agent shall have received a duly executed counterpart of an appropriately completed borrowing notice pursuant to Section 2.2 in the form of Exhibit B (as such form may be amended or modified from time to time upon agreement by the Borrower desires and the Administrative Agent, a "Borrowing Notice"). Each Borrowing Notice shall include the following:
(i) certification by the Borrower that the funds required by such Borrowing Notice will be used solely to obtain pay Equipment Costs or Transaction Expenses (except that, with respect to the Initial Loans, the funds will be used in accordance with the provisions of the Termination Agreement);
(ii) certification by the Borrower that (i) all proceeds of prior Borrowing Notices have been (or will have been) expended or applied within 30 days of the date of the applicable prior Borrowing Notice, except for unanticipated delays in payments in the ordinary course of business that are disclosed in the subject Borrowing Notice and (ii) the items for which amounts are requested in the subject Borrowing Notice have not been the basis for a previous Borrowing Notice;
(other than iii) certification by the Borrower that no Event of Default or Default has occurred and is continuing;
(iv) (A) prior to the NEG Guarantee Release Date, certification by the Borrower that no NEG Trigger Event or Incipient NEG Trigger Event, both with respect to the Guarantor, has occurred and is continuing and (B) if a Substitute Credit Support Instrument is in effect, certification by the Borrower that (x) no NEG Trigger Event or Incipient NEG Trigger Event under such Substitute Credit Support Instrument in the case of a Documentary Credit) it shall give to the Agent prior written notice Substitute Credit Support Instrument in the form attached as Schedule 2(A), (B) of a guaranty or (C)y) no Substitute Credit Support Instrument Draw Event in the case of a Substitute Credit Support Instrument in the form of a letter of credit, as applicable (each, a “Borrowing Notice”), specifying, as applicable:
(i) the amount, currency has occurred and type or types of Accommodation desired;
(ii) the details of the account of the Borrower to which payment of the Borrowing is to be wired or otherwise made, if applicable;
(iii) the requested Borrowing Date;
(iv) the term thereofcontinuing;
(v) (A) prior to the NEG Guarantee Release Date, certification by the Borrower that the Guarantor's senior unsecured long-term debt is rated at least BBB- by S&P and Baa3 by Xxxxx'x (or, if applicableratings of such debt have not been issued by such rating agencies, such debt is impliedly rated by an issuer rating or an indicative rating of at least BBB- by S&P and Baa3 by Xxxxx'x) and (B) if a Substitute Credit Support Instrument is in effect, certification by the Accommodation to be renewed Borrower that (x) the Substitute Credit Support Instrument provider's senior unsecured long-term debt is rated at least BBB- by S&P and Baa3 by Xxxxx'x (or, if ratings of such debt have not been issued by such rating agencies, such debt is impliedly rated by an issuer rating or converted an indicative rating of at least BBB- by S&P and Baa3 by Xxxxx'x) in the case of a Substitute Credit Support Instrument in the form of a guaranty or (y) the letter of credit issuer's senior unsecured long-term debt is rated at least A by S&P and A2 by Xxxxx'x (or, if ratings of such debt have not been issued by such rating agencies, such debt is impliedly rated by an issuer rating or an indicative rating of at least A by S&P and A2 by Xxxxx'x) in the case of a Substitute Credit Support Instrument in the form of a letter of credit; and, where such Accommodation includes any Loan, the currency thereof and the interest rate applicable thereto;
(vi) if such Borrowing includes a Loan, whether certification by the Borrower that the representations and warranties of the Borrower contained in the Loan Documents to which it is to be a Prime Rate Loan, U.S. Base Rate Loan or a LIBOR Loan; and
(vii) party are true and accurate in all material respects as if made on and as of such Borrowing includes a LIBOR Loan, the LIBOR Interest Period to be applicable to such Loan. The Borrowing Notice shall be given to the Agent not later than 12:00 p.m. (Toronto, Ontario time):
(viii) on the applicable Borrowing Date, if except to the new Accommodation or extent such representations and warranties relate solely to an earlier date, in which case such representations and warranties shall have been true and correct in all material respects on and as of such earlier date, and except to the extent that the failure of any Accommodation such representation and warranties to be renewed or converted is by way of Prime Rate Loans or U.S. Base Rate Loans. In the event such Accommodation causes true and correct would not reasonably result in a Lender to incur costs relating solely to the providing of same day notice, the Borrower shall pay such costs to such Lender immediately upon request therefor;
(ix) on the Business Day preceding the applicable Borrowing Date, if the new Accommodation or any Accommodation to be renewed or converted is by way of Bankers’ Acceptances; and
(x) on the third Business Day preceding the applicable Borrowing Date, if any new Accommodation or any Accommodation to be renewed or converted is a LIBOR Loan. In all other cases, the Borrowing Notice shall be given to the party entitled thereto on the applicable Borrowing Date. Any Borrowing Notice received by the Agent on any Business Day after 12:00 p.m. (Toronto, Ontario time) shall be deemed to have been given to such party on the next succeeding Business Day, unless otherwise agreed by the LendersMaterial Adverse Effect.
Appears in 2 contracts
Samples: Credit Agreement (Pg&e Corp), Credit Agreement (Pacific Gas & Electric Co)
Borrowing Notice. Whenever the Borrower desires to obtain a Borrowing (other than in the case of a Documentary Credit) it shall give to the Agent prior written notice in the form attached as Schedule 2(A) (Notice of Borrowing), Schedule 2(B) (BNotice of Rollover) or Schedule 2(C) (CNotice of Conversion), as applicable (each, a “Borrowing Notice”), specifying, as applicable:
(i) the amount, currency amount and type or types of Accommodation desired; provided that if the type of Accommodation is not specified, then it shall be deemed to be a Prime Rate Loan;
(ii) the details of the account of the Borrower to which payment of the Borrowing is to be wired or otherwise made, if applicable;
(iii) the requested Borrowing Date;
(iv) the term thereof or Interest Period thereof, as applicable; provided that if no Interest Period is specified with respect to any requested Term XXXXX Loan, then the Borrower shall be deemed to have selected an Interest Period of one (1) months duration;
(v) if applicable, the Accommodation to be renewed or converted and, where such Accommodation includes any Loan, the currency thereof and the interest rate applicable thereto;; and
(vi) if such Borrowing includes a Loan, whether it is to be a Prime Rate Loan, U.S. Base Rate Loan or a LIBOR Loan; and
(vii) if such Borrowing includes a LIBOR Loan, the LIBOR Interest Period to be applicable to such Loan. The Borrowing Notice shall be given to the Agent not later than 12:00 p.m. (Toronto, Ontario time):
(viiii) on the applicable Borrowing Date, if the Accommodation is a new Accommodation issue or if any such Accommodation to be renewed or drawn, converted is by way or rolled over has a Canadian Dollar Amount in the aggregate equal to or greater than Five Hundred Thousand Canadian Dollars (Cdn.$500,000) and multiples of Prime Rate Loans or U.S. Base Rate LoansOne Hundred Thousand Canadian Dollars (Cdn.$100,000) in excess thereof. In the event such Accommodation causes a Lender to incur costs relating solely to the providing of same day notice, the Borrower shall pay such costs to such Lender immediately upon request therefor;
(ix) on the Business Day preceding the applicable Borrowing Date, if the new Accommodation or any Accommodation to be renewed or converted is by way of Bankers’ Acceptances; and
(x) on the third Business Day preceding the applicable Borrowing Date, if any new Accommodation or any Accommodation to be renewed or converted is a LIBOR Loan. In all other cases, the Borrowing Notice shall be given to the party entitled thereto on the applicable Borrowing Date. Any Borrowing Notice received by the Agent on any Business Day after 12:00 p.m. (Toronto, Ontario time) shall be deemed to have been given to such party on the next succeeding Business Day, unless otherwise agreed by the Lenders.
Appears in 1 contract
Borrowing Notice. Whenever (a) Borrower shall give Agent written notice of each borrowing of Advances by the Borrower desires delivery to obtain a Borrowing (other than in the case Agent of a Documentary Creditnotice (the "Borrowing Notice") it shall give to the Agent prior written notice in the form attached as Schedule 2(AExhibit G. Each Borrowing Notice shall be effective only if received by Agent not later than 1000 hours (London time) on the date which is two Banking Days before the date of the requested borrowing. Each such Borrowing Notice shall specify the aggregate amount (subject to Section 2.1) of Advances to be borrowed and the date of borrowing, which shall be a Banking Day (the "Borrowing Date").
(b) A scheduled Borrowing Date may be postponed from time to time for any reason if Borrower gives Agent and the Lenders telefax notice of such postponement and the date, if any, to which such Borrowing Date has been postponed, such notice of postponement to be received by Agent and each Lender no later than 1600 hours (BLuxembourg time) or (C)on the originally scheduled Borrowing Date, as applicable (each, a “in which event such newly specified date shall become the scheduled "Borrowing Date" for purposes of the Borrowing Notice”).
(c) In the event any notice of postponement of a Borrowing Date pursuant to Section 2.2(b) is received by Agent or any Lender after 1000 hours (London time) two Banking Days before the originally scheduled Borrowing Date, specifying, as applicable:Borrower will compensate the Lenders pursuant to Section 6.1.
(d) Each Borrowing Notice requesting Advances shall include a representation and warranty by Borrower that (i) the amountrepresentations and warranties in Sections 7 and 8 are true and correct on the date of such Borrowing Notice, currency and type or types of Accommodation desired;
(ii) the details of the account of the Borrower to which payment of the Borrowing no Default has occurred and is to be wired or otherwise madecontinuing, if applicable;
and (iii) the Loan shall not, on the date of borrowing and giving effect to the Advances requested Borrowing Date;
(iv) the term thereof;
(v) if applicable, the Accommodation to be renewed or converted and, where such Accommodation includes any Loan, the currency thereof and the interest rate applicable thereto;
(vi) if in such Borrowing includes a LoanNotice, whether it is to be a Prime Rate Loan, U.S. Base Rate Loan or a LIBOR Loan; and
(vii) if such Borrowing includes a LIBOR Loan, exceed the LIBOR Interest Period to be applicable to such Loan. The Borrowing Notice shall be given to the Agent not later than 12:00 p.m. (Toronto, Ontario time):
(viii) on the applicable Borrowing Date, if the new Accommodation or any Accommodation to be renewed or converted is by way of Prime Rate Loans or U.S. Base Rate Loans. In the event such Accommodation causes a Lender to incur costs relating solely to the providing of same day notice, the Borrower shall pay such costs to such Lender immediately upon request therefor;
(ix) on the Business Day preceding the applicable Borrowing Date, if the new Accommodation or any Accommodation to be renewed or converted is by way of Bankers’ Acceptances; and
(x) on the third Business Day preceding the applicable Borrowing Date, if any new Accommodation or any Accommodation to be renewed or converted is a LIBOR Loan. In all other cases, the Borrowing Notice shall be given to the party entitled thereto on the applicable Borrowing Date. Any Borrowing Notice received by the Agent on any Business Day after 12:00 p.m. (Toronto, Ontario time) shall be deemed to have been given to such party on the next succeeding Business Day, unless otherwise agreed by the LendersTotal Commitment.
Appears in 1 contract
Borrowing Notice. Whenever the Borrower desires to obtain a Borrowing (other than in the case of a Documentary Credit) it shall give to the Agent prior written notice in the form attached as Schedule 2(A), (B) or (C), as applicable (each, a “Borrowing Notice”), specifying, as applicable:
(i) the amount, currency and type or types of Accommodation desired;
(ii) the details of the account of the Borrower to which payment of the Borrowing is to be wired or otherwise made, if applicable;
(iii) the requested Borrowing Date;; Legal_1:35701022.7
(iv) the term thereof;
(v) if applicable, the Accommodation to be renewed or converted and, where such Accommodation includes any Loan, the currency thereof and the interest rate applicable thereto;
(vi) if such Borrowing includes a Loan, whether it is to be a Prime Rate Loan, U.S. Base Rate Loan or a LIBOR Loan; and
(vii) if such Borrowing includes a LIBOR Loan, the LIBOR Interest Period to be applicable to such Loan. The Borrowing Notice shall be given to the Agent not later than 12:00 p.m. (Toronto, Ontario time):10:00 a.m.:
(viii) on the Business Day preceding the applicable Borrowing Date, if the new Accommodation or any Accommodation to be renewed or converted is by way of Prime Rate Loans or U.S. Base Rate Loans. In the event such Accommodation causes a Lender to incur costs relating solely to the providing of same day notice, the Borrower shall pay such costs to such Lender immediately upon request therefor;
(ix) on the Business Day preceding the applicable Borrowing Date, if the new Accommodation or any Accommodation to be renewed or converted is by way of Bankers’ Acceptances; and
(x) on the third Business Day preceding the applicable Borrowing Date, if any new Accommodation or any Accommodation to be renewed or converted is a LIBOR Loan. In all other cases, the Borrowing Notice shall be given to the party entitled thereto on the applicable Borrowing Date. Any Borrowing Notice received by the Agent on any Business Day after 12:00 p.m. (Toronto, Ontario time) 10:00 a.m. shall be deemed to have been given to such party on the next succeeding Business Day, unless otherwise agreed by the Lenders.
Appears in 1 contract
Samples: Credit Agreement (Pacificorp /Or/)
Borrowing Notice. Whenever The Borrower shall select the Type of Advance and, in the case of each Eurodollar Advance, the Interest Period applicable to each of its Advances from time to time. The Borrower desires to obtain shall give the Agent irrevocable notice (a "BORROWING NOTICE") not later than 11:00 a.m. (Chicago time) on the Borrowing Date of each Floating Rate Advance and three Business Days before the Borrowing Date for each Eurodollar Advance, specifying: (other than i) the Borrowing Date (which shall be a Business Day and, in the case of a Documentary CreditTerm Loan or an Acquisition Loan, an Acquisition Closing Date) it shall give to the Agent prior written notice in the form attached as Schedule 2(A), (B) or (C), as applicable (each, a “Borrowing Notice”), specifying, as applicable:
(i) the amount, currency and type or types of Accommodation desired;
such Advance; (ii) the details aggregate amount of the account of the Borrower to which payment of the Borrowing is to be wired or otherwise made, if applicable;
such Advance; (iii) the requested Borrowing Date;
Type of Advance selected; (iv) in the term thereof;
case of each Eurodollar Advance, the Interest Period applicable thereto; (v) if applicable, the Accommodation to be renewed or converted and, where amount of such Accommodation includes any Advance which is a Revolving Credit Loan, Term Loan and/or Acquisition Loan; and (vi) instructions for disbursement of such Advance. The Borrower shall select Interest Periods so that, to the currency best of the Borrower's knowledge, it will not be necessary to prepay all or any portion of any Eurodollar Advance prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Floating Rate Advance and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance to (but not including) the date of repayment thereof at the Floating Rate, changing when and as such Floating Rate changes. Changes in the rate of interest on that portion of any Advance maintained as a Floating Rate Loan will take effect simultaneously with each change in the Alternate Base Rate and/or Applicable Floating Rate Margin. Each Eurodollar Advance shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate applicable thereto;
(vi) if such Borrowing includes a Loan, whether it is to be a Prime Rate Loan, U.S. Base Rate Loan or a LIBOR Loan; and
(vii) if such Borrowing includes a LIBOR Loan, the LIBOR Interest Period to be determined as applicable to such LoanEurodollar Advance. The Borrowing Notice shall be given to the Agent not later than 12:00 p.m. (Toronto, Ontario time):
(viii) on the applicable Borrowing Date, if the new Accommodation or any Accommodation to be renewed or converted is by way of Prime Rate Loans or U.S. Base Rate Loans. In the event such Accommodation causes a Lender to incur costs relating solely to the providing of same day notice, the Borrower shall pay such costs to such Lender immediately upon Each request therefor;
(ix) on the Business Day preceding the applicable Borrowing Date, if the new Accommodation or any Accommodation to be renewed or converted is by way of Bankers’ Acceptances; and
(x) on the third Business Day preceding the applicable Borrowing Date, if any new Accommodation or any Accommodation to be renewed or converted is a LIBOR Loan. In all other cases, the Borrowing Notice shall be given to the party entitled thereto on the applicable Borrowing Date. Any Borrowing Notice received by the Agent on any Business Day after 12:00 p.m. (Toronto, Ontario time) for an Advance shall be deemed to have been given a representation and warranty by the Borrower that all conditions precedent to such party on Advance under Article IV are satisfied as of the next succeeding Business Day, unless otherwise agreed by date of such request and as of the Lendersdate of such Advance.
Appears in 1 contract
Borrowing Notice. (a) Whenever the Borrower desires to obtain a Borrowing (other than in the case of a Documentary CreditCredit or a U.S. Base Rate Loan) it shall give to the Agent prior written notice in the form attached as Schedule 2(A) (Notice of Borrowing), Schedule 2(B) (BNotice of Rollover) or Schedule 2(C) (CNotice of Conversion), as applicable (each, a “Borrowing Notice”), specifying, as applicable:
(i) the amount, currency and type or types of Accommodation desired; provided that if the type of Accommodation is not specified, then it shall be deemed to be a Prime Rate Loan;
(ii) the details of the account of the Borrower to which payment of the Borrowing is to be wired or otherwise made, if applicable;
(iii) the requested Borrowing Date;
(iv) the term or Interest Period thereof;, as applicable; provided that if no Interest Period is specified with respect to any requested Term XXXXX Loan, then the Borrower shall be deemed to have selected an Interest Period of one (1) month’s duration; and
(v) if applicable, the Accommodation to be renewed or converted and, where such Accommodation includes any Loan, the currency thereof and the interest rate applicable thereto;
(vi) if such Borrowing includes ; LEGAL_1:81779606.19 BMO – BNS - Berkshire –Credit Agreement The Borrower may roll over any Term XXXXX Loan or Daily Compounded XXXXX Loan on the last day of the applicable Interest Period thereof by giving the Agent a Loan, whether it is to be a Prime Rate LoanNotice of Rollover. For the avoidance of doubt, U.S. Base Rate Loan Loans may not be borrowed, rolled over or a LIBOR Loan; andconverted hereunder, and may only be outstanding in connection with Documentary Credits denominated in USD$ pursuant to Section 3.4(b).
(viib) if such Borrowing includes a LIBOR Loan, the LIBOR Interest Period to be applicable to such Loan. The Borrowing Notice shall be given to the Agent not later than 12:00 p.m. (Toronto, Ontario time):
(viiii) on the Business Day preceding the applicable Borrowing Date, if the new Accommodation or any Accommodation to be renewed or converted is by way of Prime Rate Loans or U.S. Base Rate Loans. In the event such Accommodation causes a Lender to incur costs relating solely to the providing of same day notice, the Borrower shall pay such costs to such Lender immediately upon request therefor;
(ixii) on the third Business Day preceding the applicable Borrowing Date, if the new Accommodation or any Accommodation to be renewed or converted is by way of Bankers’ Acceptances; andDaily Compounded XXXXX Loans.
(xiii) on the third second Business Day preceding the applicable Borrowing Date, if any the new Accommodation or any Accommodation to be renewed or converted is a LIBOR Loan. by way of Term XXXXX Loans.
(c) In all other cases, the Borrowing Notice shall be given to the party entitled thereto on the applicable Borrowing Date. .
(d) Any Borrowing Notice received by the Agent on any Business Day after 12:00 p.m. (Toronto, Ontario time) shall be deemed to have been given to such party on the next succeeding Business Day, unless otherwise agreed by the Lenders.
(e) Each Loan shall be in a minimum amount not less than $1,000,000 and in an integral multiple of $100,000 thereupon.
Appears in 1 contract
Borrowing Notice. Whenever the Borrower desires to obtain a Borrowing (other than by way of Overdraft), it shall give to the:
(a) Agent, in the case of Borrowings under this Credit Facility (other than the Letters of Credit), and
(b) Letter of Credit Lender, with a Documentary Credit) it shall give copy to the Agent Agent, in the case of Borrowings by way of Letters of Credit, prior written notice in the form attached as Schedule 2(A), (B) or (C), ) as applicable (each, a “"Borrowing Notice”"), specifying, as applicable:: LEGAL_l:28867748.6
(ic) the amount, currency and type or types of Accommodation desireddesired including, in the case of a Letter of Credit, the Letter of Credit Lender's specific required form thereof and the particulars of the related indebtedness;
(iid) the details of Borrower's Account at the account of the Borrower Branch to which payment of the Borrowing is to be wired or otherwise made, if applicable;
(iiie) the Person to whom any Bankers' Acceptance or Letter of Credit is to be delivered, if applicable;
(f) the requested Borrowing Date;
(ivg) if such Borrowing includes a Bankers' Acceptance, the term thereof;,
(vh) if applicable, the Accommodation to be renewed or converted and, where such Accommodation includes any Loan, the currency thereof and the interest rate applicable thereto;
(vii) if such Borrowing includes a Loan, whether it is to be a Prime Rate Loan, U.S. Base Rate Loan or a LIBOR Loan; and
(viij) if such Borrowing includes a LIBOR Loan, the LIBOR Interest Period to be applicable to such Loan; provided that the application for a Letter of Credit delivered to the Letter of Credit Lender as part of the Credit Documents with respect to such Letter of Credit, to the extent that it includes all of the information required by this Section to be provided to the Letter of Credit Lender with respect thereto, may constitute the Borrowing Notice with respect to such Letter of Credit. The Borrowing Notice shall be given to the Agent relevant party entitled to receive same not later than 12:00 p.m. (Toronto, Ontario time):10:00 a.m.:
(viiia) on the Business Day preceding the applicable Borrowing Date, Date if the new Accommodation or any Accommodation to be renewed or converted is by way of Prime Rate Loans or U.S. Base Rate Loans. In the event Loans and is a new issue or if any such Accommodation causes to be drawn, converted or rolled over has a Lender Canadian Dollar Amount in the aggregate equal to incur costs relating solely to the providing or greater than One Million Canadian Dollars (Cdn.$1,000,000) and multiples of same day notice, the Borrower shall pay such costs to such Lender immediately upon request thereforOne Million Canadian Dollars (Cdn.$1,000,000) in excess thereof;
(ixb) on the Business Day preceding the applicable Borrowing Date, Date if the new Accommodation or any Accommodation to be renewed or converted is by way of Bankers’ Acceptances' Acceptances and is a new issue or if any such Accommodation to be drawn, converted or rolled over has a Canadian Dollar Amount in the aggregate equal to or greater than Two Hundred and Fifty Thousand Canadian Dollars (Cdn.$250,000); and
(xc) on the third Business Day preceding the applicable Borrowing Date, Date if any new Accommodation or any Accommodation to be renewed or converted is a LIBOR Loan. LEGAL_l:28867748.6 If any Accommodation to be drawn, renewed or converted is a Letter of Credit, the Letter of Credit Lender shall be given such sufficient prior notice as such party may reasonably require in the circumstances. In all other cases, the Borrowing Notice shall be given to the party entitled thereto on the applicable Borrowing Date. Any Borrowing Notice received by the Agent or the Letter of Credit Lender, as applicable, on any Business Day after 12:00 p.m. (Toronto, Ontario time) 10:00 a.m. shall be deemed to have been given to such party on the next succeeding Business Day, unless otherwise agreed by the Lenders.
Appears in 1 contract
Borrowing Notice. Whenever the When a Borrower desires to obtain borrow under this ---------------- Section
2.1. 2, a Financial Officer shall deliver to the applicable Swing Loan ------------- Lender and the Agent a Borrowing Notice, signed by it, no later than 1:00 p.m. (other Indianapolis time) if such Swing Loan is to be denominated in Dollars and no later than 12:00 noon local time in the case city of a Documentary Creditthe applicable Swing Loan Lender's applicable Eurocurrency Payment Office three (3) it shall give Business Days' prior to the Agent prior written notice Borrowing Date if such Swing Loan is to be denominated in an Agreed Currency on the form attached as Schedule 2(A), (B) or (C), as applicable (each, Borrowing Date which Borrowing Notice shall indicate that the Borrower is requesting a “Swing Loan pursuant to this Section 2.1.2. ------------- Such Borrowing Notice”), specifying, as applicable:
Notice shall specify (i) the amountdate of the proposed Swing Loan (which shall be a Business Day, currency and type with respect to Swing Loans denominated in Dollars may be the same Business Day as the date of such Borrowing Notice and with respect to Swing Loans denominated in the applicable Agreed Currency will be three Business Days' following the date of such Borrowing Notice, or types of Accommodation desired;
such shorter period as may be agreed to by the applicable Swing Loan Lender), (ii) the details amount of the account of the Borrower to which payment of the Borrowing is to be wired or otherwise madeproposed Swing Loan, if applicable;
(iii) the Swing Loan Lender or Swing Loan Lenders requested Borrowing Date;
to make such Swing Loan and (iv) instructions for the term thereof;
(v) if applicable, disbursement of the Accommodation to be renewed or converted and, where such Accommodation includes any proceeds of the proposed Swing Loan, the currency thereof and the interest rate applicable thereto;
(vi) if such Borrowing includes a Loan, whether it is to be a Prime Rate Loan, U.S. Base Rate Loan or a LIBOR Loan; and
(vii) if such Borrowing includes a LIBOR Loan, the LIBOR Interest Period to be applicable to such Loan. The Borrowing Notice shall be given to the Agent not later than 12:00 p.m. (Toronto, Ontario time):
(viii) on the applicable Borrowing Date, if the new Accommodation or any Accommodation to be renewed or converted is by way of Prime Rate Loans or U.S. Base Rate Loans. In the event such Accommodation causes a Lender to incur costs relating solely to the providing of same day notice, the Borrower shall pay such costs to such Lender immediately upon request therefor;
(ix) on the Business Day preceding the applicable Borrowing Date, if the new Accommodation or any Accommodation to be renewed or converted is by way of Bankers’ Acceptances; and
(x) on the third Business Day preceding the applicable Borrowing Date, if any new Accommodation or any Accommodation to be renewed or converted is a LIBOR Loan. In all other cases, the Borrowing Notice shall be given to the party entitled thereto on the applicable Borrowing Date. Any Borrowing Notice received by the Agent on any Business Day after 12:00 p.m. (Toronto, Ontario time) given pursuant to this Section 2.1.2 ------------- shall be deemed to have been given to such party on the next succeeding Business Day, unless otherwise agreed by the Lendersirrevocable.
Appears in 1 contract
Samples: Credit Agreement (Tokheim Corp)
Borrowing Notice. Whenever the Borrower desires to obtain a Borrowing (other than by way of Overdraft), it shall give to the:
(a) Agent, in the case of Borrowings under this Credit Facility (other than the Letters of Credit), and
(b) Letter of Credit Xxxxxx, with a Documentary Credit) it shall give copy to the Agent Agent, in the case of Borrowings by way of Letters of Credit, prior written notice in the form attached as Schedule 2(A) (Notice of Borrowing), Schedule 2(B) (BNotice of Rollover) or Schedule 2(C) (CNotice of Conversion), as applicable (each, a “Borrowing Notice”), specifying, as applicable:
(ic) the amount, currency amount and type or types of Accommodation desireddesired including, in the case of a Letter of Credit, the Letter of Credit Lender’s specific required form thereof and the particulars of the related indebtedness; provided that if the type of Accommodation is not specified, then it shall be deemed to be a Prime Rate Loan;
(iid) the details Borrower’s Account at the Branch of the account of the Borrower Account to which payment of the Borrowing is to be wired or otherwise made, if applicable;
(iiie) the requested Borrowing Date;
(ivf) the term thereof or Interest Period thereof;, as applicable; provided that if no Interest Period is specified with respect to any requested Term XXXXX Loan or Daily Compounded XXXXX Loan, then the Borrower shall be deemed to have selected an Interest Period of one (1) months duration; and
(vg) if applicable, the Accommodation to be renewed or converted and, where such Accommodation includes any Loan, the currency thereof and the interest rate applicable thereto;
(vi) if ; provided that the application for a Letter of Credit delivered to the Letter of Credit Lender as part of the Credit Documents with respect to such Borrowing Letter of Credit, to the extent that it includes a Loan, whether it is all of the information required by this Section to be a Prime Rate Loanprovided to the Letter of Credit Lender with respect thereto, U.S. Base Rate Loan or a LIBOR Loan; and
(vii) if such may constitute the Borrowing includes a LIBOR Loan, the LIBOR Interest Period to be applicable Notice with respect to such LoanLetter of Credit. The Borrowing Notice shall be given to the Agent relevant party entitled to receive same not later than 12:00 p.m. (Toronto, Ontario time):10:00 a.m.:
(viiii) on the applicable Borrowing Date if the Accommodation is by way of Prime Rate Loans and is a new issue or if any such Accommodation to be drawn, converted or rolled over has a Canadian Dollar Amount in the aggregate equal to or greater than Five Hundred Thousand Canadian Dollars (Cdn.$500,000) and multiples of One Hundred Thousand Canadian Dollars (Cdn.$100,000) in excess thereof;
(ii) three Business Days prior to the applicable Borrowing Date, if the new Accommodation or any Accommodation to be renewed or converted is by way of Prime Rate Daily Compounded XXXXX Loans and is a new issue or U.S. Base Rate Loans. In the event if any such Accommodation causes to be drawn, converted or rolled over has a Lender Canadian Dollar Amount in the aggregate equal to incur costs relating solely to the providing or greater than One Million Dollars (Cdn.$1,000,000 and multiples of same day notice, the Borrower shall pay such costs to such Lender immediately upon request therefor;One Hundred Thousand Canadian Dollars (Cdn.$100,000) in excess thereof; and LEGAL_1:83525085.7 \
(ixiii) on the two Business Day preceding Days prior to the applicable Borrowing Date, if the Accommodation is by way of Term XXXXX Loans and is a new issue or if any such Accommodation to be drawn, converted or rolled over has a Canadian Dollar Amount in the aggregate equal to or greater than One Million Dollars (Cdn.$1,000,000) and multiples of One Hundred Thousand Canadian Dollars (Cdn.$100,000) in excess thereof. If any Accommodation to be renewed or converted is by way of Bankers’ Acceptances; and
(x) on the third Business Day preceding the applicable Borrowing Datedrawn, if any new Accommodation or any Accommodation to be renewed or converted is a LIBOR LoanLetter of Credit, the Letter of Credit Lender shall be given such sufficient prior notice as such party may reasonably require in the circumstances. In all other cases, the Borrowing Notice shall be given to the party entitled thereto on the applicable Borrowing Date. Any Borrowing Notice received by the Agent or the Letter of Credit Lender, as applicable, on any Business Day after 12:00 p.m. (Toronto, Ontario time) 10:00 a.m. shall be deemed to have been given to such party on the next succeeding Business Day, unless otherwise agreed by the Lenders.
Appears in 1 contract
Borrowing Notice. Whenever the (a) The Borrower desires to obtain a Borrowing (other than in the case of a Documentary Credit) it shall give to the Agent prior written notice (substantially in the form attached of Exhibit D hereto or in such other form as Schedule 2(A), may be mutually agreed upon by the Borrower and the Agent (B) or (C), as applicable (each, a “"Borrowing Notice”"), specifying, as applicable:
) not later than 11:00 a.m. (New York City time) at least two Business Days before the proposed borrowing date (the "Borrowing Date") of any Borrowing specifying (i) the amount, currency Borrowing Date of such Borrowing which shall be a Business Day and type or types of Accommodation desired;
(ii) the details principal amount of such Borrowing, and certifying the account of matters contained in Section 9.2 hereof. Such notice shall be irrevocable to the extent that the Lenders or the Agent have relied on the notice to their own detriment or incurred costs and expenses in connection therewith; provided that the Borrower to which payment of the Borrowing is to be wired or otherwise mademay revoke such notice, if applicable;
(iii) the requested Borrowing Date;
(iv) the term thereof;
(v) if applicable, the Accommodation to be renewed or converted and, where such Accommodation includes in any Loan, the currency thereof and the interest rate applicable thereto;
(vi) if such Borrowing includes a Loan, whether it is to be a Prime Rate Loan, U.S. Base Rate Loan or a LIBOR Loan; and
(vii) if such Borrowing includes a LIBOR Loan, the LIBOR Interest Period to be applicable to such Loan. The Borrowing Notice shall be given to the Agent not later than 12:00 p.m. (Toronto, Ontario time):
(viii) on the applicable Borrowing Datecase, if the new Accommodation or Borrower fully reimburses the Lenders and the Agent for any Accommodation to be renewed or converted is by way of Prime Rate Loans or U.S. Base Rate Loansreasonable costs and expenses associated with their reliance on such notice. In the event addition to such Accommodation causes a Lender to incur costs relating solely to the providing of same day notice, the Borrower shall pay deliver a Compliance Certificate substantially in the form of Exhibit E hereto or in such costs other form as may be mutually agreed upon by the Borrower and the Agent (a "Compliance Certificate") to the Agent.
(b) The Agent shall promptly notify each Lender of its share of each Borrowing under this Section 2.3, the date of such Borrowing and the Interest Period applicable thereto. On the Borrowing Date specified in such notice, each Lender shall make its share of the Borrowing available at the office of the Agent no later than 1:00 p.m. New York City time in Federal or other immediately available funds. Upon receipt of the funds to be made available by the Lenders to fund each Borrowing hereunder, the Agent shall disburse such funds via Federal Funds wire transfer to the Borrower's account at the Custodian, ABA No. 011-001-438, Account No. 5821-5013 Control Wire, Re: Belrose Capital Xxxx XXX - 4918, or to such Lender immediately upon request therefor;
(ix) on other account as to which the Business Day preceding the applicable Borrowing Date, if the new Accommodation or any Accommodation to be renewed or converted is by way of Bankers’ Acceptances; and
(x) on the third Business Day preceding the applicable Borrowing Date, if any new Accommodation or any Accommodation to be renewed or converted is a LIBOR Loan. In all other cases, the Borrowing Notice Borrower shall be given to the party entitled thereto on the applicable Borrowing Date. Any Borrowing Notice received by instruct the Agent on any Business Day after 12:00 p.m. (Toronto, Ontario time) shall be deemed to have been given to such party on the next succeeding Business Day, unless otherwise agreed by the Lendersin writing.
Appears in 1 contract
Samples: Loan and Security Agreement (Belrose Capital Fund LLC)
Borrowing Notice. Whenever the (a) The Borrower desires to obtain a Borrowing (other than in the case of a Documentary Credit) it shall give to the Agent prior written notice (substantially in the form attached of Exhibit D hereto or in such other form as Schedule 2(A), may be mutually agreed upon by the Borrower and the Agent (B) or (C), as applicable (each, a “"Borrowing Notice”"), specifying, as applicable:
) not later than 11:00 a.m. (New York City time) at least two Business Days before the proposed borrowing date (the "Borrowing Date") of any Borrowing specifying (i) the amount, currency Borrowing Date of such Borrowing which shall be a Business Day and type or types of Accommodation desired;
(ii) the details principal amount of such Borrowing, and certifying the account of matters contained in Section 9.2 hereof. Such notice shall be irrevocable to the extent that the Lenders or the Agent have relied on the notice to their own detriment or incurred costs and expenses in connection therewith; provided that the Borrower to which payment of the Borrowing is to be wired or otherwise mademay revoke such notice, if applicable;
(iii) the requested Borrowing Date;
(iv) the term thereof;
(v) if applicable, the Accommodation to be renewed or converted and, where such Accommodation includes in any Loan, the currency thereof and the interest rate applicable thereto;
(vi) if such Borrowing includes a Loan, whether it is to be a Prime Rate Loan, U.S. Base Rate Loan or a LIBOR Loan; and
(vii) if such Borrowing includes a LIBOR Loan, the LIBOR Interest Period to be applicable to such Loan. The Borrowing Notice shall be given to the Agent not later than 12:00 p.m. (Toronto, Ontario time):
(viii) on the applicable Borrowing Datecase, if the new Accommodation or Borrower fully reimburses the Lenders and the Agent for any Accommodation to be renewed or converted is by way of Prime Rate Loans or U.S. Base Rate Loansreasonable costs and expenses associated with their reliance on such notice. In the event addition to such Accommodation causes a Lender to incur costs relating solely to the providing of same day notice, the Borrower shall pay deliver a Compliance Certificate substantially in the form of Exhibit E hereto or in such costs other form as may be mutually agreed upon by the Borrower and the Agent (a "Compliance Certificate") to the Agent.
(b) The Agent shall promptly notify each Lender of its share of each Borrowing under this Section 2.3, the date of such Borrowing and the Interest Period applicable thereto. On the Borrowing Date specified in such notice, each Lender shall make its share of the Borrowing available at the office of the Agent no later than 1:00 p.m. New York City time in Federal or other immediately available funds. Upon receipt of the funds to be made available by the Lenders to fund each Borrowing hereunder, the Agent shall disburse such funds via Federal Funds wire transfer to the Borrower's account at the Custodian, ABA No. 011-001-438, Account No. 5821-5013 Control Wire, Re: Belrose Capital Fuxx XXX - 0083, or to such Lender immediately upon request therefor;
(ix) on other account as to which the Business Day preceding the applicable Borrowing Date, if the new Accommodation or any Accommodation to be renewed or converted is by way of Bankers’ Acceptances; and
(x) on the third Business Day preceding the applicable Borrowing Date, if any new Accommodation or any Accommodation to be renewed or converted is a LIBOR Loan. In all other cases, the Borrowing Notice Borrower shall be given to the party entitled thereto on the applicable Borrowing Date. Any Borrowing Notice received by instruct the Agent on any Business Day after 12:00 p.m. (Toronto, Ontario time) shall be deemed to have been given to such party on the next succeeding Business Day, unless otherwise agreed by the Lendersin writing.
Appears in 1 contract
Samples: Loan and Security Agreement (Belrose Capital Fund LLC)
Borrowing Notice. Whenever the Borrower desires to obtain a Borrowing (other than in the case of a Documentary Credit) it shall must give to Administrative Agent written or electronic notice (or telephonic notice promptly confirmed in writing) of all requested Loans to be advanced by the Agent prior written Lenders hereunder on the Closing Date. Such notice in the form attached as Schedule 2(A), (B) or (C), as applicable (each, constitutes a “Borrowing Notice”), specifying, as applicable” hereunder and must:
(a) specify (i) the amountaggregate amount of any such Base Rate Loans to be advanced, currency and type or types of Accommodation desired;
(ii) the details aggregate amount of any such Eurodollar Loans to be advanced and the length of the account of the Borrower to which payment of the Borrowing is to be wired or otherwise made, if applicable;
(iii) the requested Borrowing Date;
(iv) the term thereof;
(v) if applicable, the Accommodation to be renewed or converted and, where such Accommodation includes any Loan, the currency thereof and the interest rate applicable thereto;
(vi) if such Borrowing includes a Loan, whether it is to be a Prime Rate Loan, U.S. Base Rate Loan or a LIBOR LoanInterest Period; and
(viib) if such Borrowing includes a LIBOR Loan, the LIBOR Interest Period to be applicable to such Loan. The Borrowing Notice shall be given to the received by Administrative Agent not later than 12:00 p.m. 11:00 a.m., Denver, Colorado time on, (Toronto, Ontario time):
(viiii) on the applicable Borrowing Date, if the new Accommodation or any Accommodation to be renewed or converted is by way of Prime Rate Loans or U.S. Borrower requests Base Rate Loans. In the event such Accommodation causes a Lender to incur costs relating solely to the providing of same day notice, the Borrower shall pay such costs to such Lender immediately upon request therefor;
(ix) on the Business Day preceding the applicable Borrowing Closing Date, or (ii) if the new Accommodation or any Accommodation to be renewed or converted is by way of Bankers’ Acceptances; and
(x) on Borrower requests Eurodollar Loans, the third Business Day preceding the applicable Borrowing Date, if any new Accommodation or any Accommodation to be renewed or converted is a LIBOR Loan. In all other cases, the Borrowing Notice shall be given to the party entitled thereto on the applicable Borrowing Closing Date. Any Such written request or confirmation must be made in the form and substance of the “Borrowing Notice received by the Agent on any Business Day after 12:00 p.m. (TorontoNotice” attached hereto as Exhibit B, Ontario time) duly completed. Such telephonic request shall be deemed a representation, warranty, acknowledgment and agreement by Borrower as to the matters which are required to be set out in such written confirmation. Upon receipt of the Borrowing Notice, Administrative Agent shall give each Lender prompt notice of the terms thereof. If all conditions precedent to such Loans have been given met, each Lender will on the date requested promptly remit to Administrative Agent at Administrative Agent’s office in Denver, Colorado the amount of such Lender’s Loan in immediately available funds, and upon receipt of such funds, unless to its actual knowledge any conditions precedent to such party Loans have been neither met nor waived as provided herein, Administrative Agent shall promptly make such Loans available to Borrower. Unless Administrative Agent shall have received prompt notice from a Lender that such Lender will not make available to Administrative Agent such Lender’s Loan, Administrative Agent may in its discretion assume that such Lender has made such Loan available to Administrative Agent in accordance with this section and Administrative Agent may if it chooses, in reliance upon such assumption, make such Loan available to Borrower. In such event, if a Lender has not in fact made its Loan available to Administrative Agent, then the applicable Lender and Borrower severally agree to pay to Administrative Agent forthwith on demand such corresponding amount with interest thereon, for each day from and including the next succeeding Business Daydate such amount is made available to Borrower to but excluding the date of payment to Administrative Agent, unless otherwise agreed at (i) in the case of a payment to be made by such Lender, the Lendersgreater of the Federal Funds Rate and a rate determined by Administrative Agent in accordance with banking industry rules on interbank compensation and (ii) in the case of a payment to be made by Borrower, the interest rate applicable to Base Rate Loans. If Borrower and such Lender shall pay such interest to Administrative Agent for the same or an overlapping period, Administrative Agent shall promptly remit to Borrower the amount of such interest paid by Borrower for such period. If such Lender pays its Loan to Administrative Agent, then the amount so paid shall constitute such Lender’s Loan. Any payment by Borrower shall be without prejudice to any claim Borrower may have against a Lender that shall have failed to make such payment to Administrative Agent.
Appears in 1 contract
Borrowing Notice. Whenever Each Borrowing shall be made on notice, given not later than 11:00 A.M. (Eastern Standard Time) on (x) the Borrower desires third Business Day prior to obtain the date of the proposed Borrowing in the case of an Acquisition Advance or a Working Capital Advance and (y) one Business Day prior to the date of the proposed Borrowing (other than in the case of a Documentary Credit) it shall give Cash Management Advance, by the Borrower to the Agent prior written Agent. Each such notice of a Borrowing (a "Borrowing Notice") must be by telephone, confirmed immediately in writing, telex or telecopier, in substantially the form attached as Schedule 2(A)of Exhibit B hereto, (B) or (C), as applicable (each, a “Borrowing Notice”), specifying, as applicable:
specifying therein the requested (i) the amountdate of such Borrowing, currency and type or types of Accommodation desired;
(ii) the details aggregate amount of the account of the Borrower to which payment of the Borrowing is to be wired or otherwise madesuch Borrowing, if applicable;
(iii) the requested Borrowing Date;
use of proceeds of such Borrowing, and (iv) account or accounts into which the term thereof;
(v) if applicable, the Accommodation to be renewed or converted and, where such Accommodation includes any Loan, the currency thereof and the interest rate applicable thereto;
(vi) if Advances comprising such Borrowing includes a Loan, whether it is to should be a Prime Rate Loan, U.S. Base Rate Loan or a LIBOR Loan; and
(vii) if such Borrowing includes a LIBOR Loan, the LIBOR Interest Period to be applicable to such Loanfunded. The Each Borrowing Notice shall be given irrevocable and binding on the Borrower. The Borrower shall indemnify each Lender against any loss, cost or expense incurred by such Lender as a result of any failure to fulfill on or before the Agent date specified in such Borrowing Notice for such Borrowing the applicable conditions set forth in Article III, including, without limitation, any loss (including loss of anticipated profits), cost or expense incurred by reason of the liquidation or reemployment of deposits or other funds acquired by such Lender to fund the Advance to be made by such Lender as part of such Borrowing when such Advance, as a result of such failure, is not made on such date. Not later than 12:00 2:00 p.m. (Toronto, Ontario time):
(viiiEastern Standard Time) on the applicable each Borrowing Date, the Agent (on behalf of each Lender) shall make available the Advance (if Agent has received funds from the new Accommodation or any Accommodation to be renewed or converted is by way of Prime Rate Loans or U.S. Base Rate Loans. In the event such Accommodation causes a Lender to incur costs relating solely to the providing of same day notice, the Borrower shall pay such costs to such Lender immediately upon request therefor;
(ix) on the Business Day preceding the applicable Borrowing Date, if the new Accommodation or any Accommodation to be renewed or converted is by way of Bankers’ Acceptances; and
Lenders (x) on in the third Business Day preceding case of an Acquisition Advance or a Working Capital Advance under Section 2.1B(1) and (y) in the applicable Borrowing Datecase of a Cash Management Advance under Section 2.1(B)(2), if any new Accommodation in funds immediately available to the Borrower at such account or any Accommodation accounts as shall have been notified to be renewed or converted is a the Agent. Each Advance shall bear interest from and including the date of the making of such Advance to (but not including) the date of repayment thereof at the Applicable LIBOR Loan. In all other casesRate, changing when and as the Borrowing Notice underlying LIBOR Rate changes, which interest shall be given to the party entitled thereto on the applicable Borrowing Date. Any Borrowing Notice received by the Agent on any Business Day after 12:00 p.m. (Toronto, Ontario time) shall be deemed to have been given to such party on the next succeeding Business Day, unless otherwise agreed by the Lenderspayable in accordance with Section 2.7(B).
Appears in 1 contract
Borrowing Notice. Whenever the a Borrower desires that Lenders make Revolving Loans to obtain such Borrower, such Borrower shall deliver to the Administrative Agent a fully executed Borrowing Notice no later than 11:00 a.m. (Local Time) (x) at least three Business Days in advance of the proposed Borrowing Date in the case of Eurocurrency Loans and (y) at least one Business Day in advance of the proposed Borrowing Date in the case of Base Rate Loans and Canadian Prime Rate Loans; provided that, if such Borrowing Date is the Restatement Effective Date, such Borrowing Notice may be delivered on the Restatement Effective Date with respect to Base Rate Loans and Canadian Prime Rate Loans and such period shorter than three Business Days as may be agreed by the Administrative Agent with respect to Eurocurrency Loans. If no election as to the Type of Borrowing is specified in any such Borrowing Notice, then the relevant Borrower shall be deemed to have requested a Borrowing that is (other than i) in the case of a Documentary Credit) it shall give to the Agent prior written notice US Revolving Borrowing denominated in the form attached as Schedule 2(A), (B) or (C), as applicable (eachDollars, a “Borrowing Notice”), specifying, as applicable:
(i) the amount, currency and type or types of Accommodation desired;
Base Rate Borrowing; (ii) in the details case of the account of the Borrower to which payment of the a US Revolving Borrowing is to be wired or otherwise madedenominated in Euros, if applicable;
a Eurocurrency Borrowing; (iii) in the requested case of a Canadian Revolving Borrowing Date;
denominated in Dollars, a Base Rate Borrowing; (iv) in the term thereof;
case of a Canadian Revolving Borrowing denominated in Canadian Dollars, a Canadian Prime Rate Borrowing; and (v) if applicablein the case of a UK Revolving Borrowing, the Accommodation a Eurocurrency Borrowing. If no Interest Period with respect to be renewed or converted and, where such Accommodation includes a Eurocurrency Borrowing is specified in any Loan, the currency thereof and the interest rate applicable thereto;
(vi) if such Borrowing includes a LoanNotice, whether it is to be a Prime Rate Loan, U.S. Base Rate Loan or a LIBOR Loan; and
(vii) if such Borrowing includes a LIBOR Loan, then the LIBOR Interest Period to be applicable to such Loan. The Borrowing Notice shall be given to the Agent not later than 12:00 p.m. (Toronto, Ontario time):
(viii) on the applicable Borrowing Date, if the new Accommodation or any Accommodation to be renewed or converted is by way of Prime Rate Loans or U.S. Base Rate Loans. In the event such Accommodation causes a Lender to incur costs relating solely to the providing of same day notice, the relevant Borrower shall pay such costs to such Lender immediately upon request therefor;
(ix) on the Business Day preceding the applicable Borrowing Date, if the new Accommodation or any Accommodation to be renewed or converted is by way of Bankers’ Acceptances; and
(x) on the third Business Day preceding the applicable Borrowing Date, if any new Accommodation or any Accommodation to be renewed or converted is a LIBOR Loan. In all other cases, the Borrowing Notice shall be given to the party entitled thereto on the applicable Borrowing Date. Any Borrowing Notice received by the Agent on any Business Day after 12:00 p.m. (Toronto, Ontario time) shall be deemed to have been given selected an Interest Period of one month’s duration. If no currency for a Borrowing is specified in any such Borrowing Notice, then the relevant Borrower shall be deemed to such party on the next succeeding Business Dayhave requested a Borrowing denominated in (A) with respect to a US Revolving Borrowing, unless otherwise agreed by the LendersDollars; (B) with respect to a Canadian Revolving Borrowing, Canadian Dollars; and (C) with respect to a UK Revolving Borrowing, Sterling.
Appears in 1 contract
Samples: Amendment and Restatement Agreement (Compass Minerals International Inc)
Borrowing Notice. Whenever the (a) The Borrower desires to obtain a Borrowing (other than in the case of a Documentary Credit) it shall give to the Agent prior written notice (substantially in the form attached of Exhibit D hereto or in such other form as Schedule 2(A), may be mutually agreed upon by the Borrower and the Agent (B) or (C), as applicable (each, a “"Borrowing Notice”"), specifying, as applicable:
) not later than 11:00 a.m. (New York City time) at least two Business Days before the proposed borrowing date (the "Borrowing Date") of any Borrowing specifying (i) the amount, currency Borrowing Date of such Borrowing which shall be a Business Day and type or types of Accommodation desired;
(ii) the details principal amount of such Borrowing, and certifying the account of matters contained in Section 9.2 hereof. Such notice shall be irrevocable to the extent that the Lenders or the Agent have relied on the notice to their own detriment or incurred costs and expenses in connection therewith; provided that the Borrower to which payment of the Borrowing is to be wired or otherwise mademay revoke such notice, if applicable;
(iii) the requested Borrowing Date;
(iv) the term thereof;
(v) if applicable, the Accommodation to be renewed or converted and, where such Accommodation includes in any Loan, the currency thereof and the interest rate applicable thereto;
(vi) if such Borrowing includes a Loan, whether it is to be a Prime Rate Loan, U.S. Base Rate Loan or a LIBOR Loan; and
(vii) if such Borrowing includes a LIBOR Loan, the LIBOR Interest Period to be applicable to such Loan. The Borrowing Notice shall be given to the Agent not later than 12:00 p.m. (Toronto, Ontario time):
(viii) on the applicable Borrowing Datecase, if the new Accommodation or Borrower fully reimburses the Lenders and the Agent for any Accommodation to be renewed or converted is by way of Prime Rate Loans or U.S. Base Rate Loansreasonable costs and expenses associated with their reliance on such notice. In the event addition to such Accommodation causes a Lender to incur costs relating solely to the providing of same day notice, the Borrower shall pay deliver a Compliance Certificate substantially in the form of Exhibit E hereto or in such costs other form as may be mutually agreed upon by the Borrower and the Agent (a "Compliance Certificate") to the Agent.
(b) The Agent shall promptly notify each Lender of its share of each Borrowing under this Section 2.3, the date of such Borrowing and the Interest Period applicable thereto. On the Borrowing Date specified in such notice, each Lender shall make its share of the Borrowing available at the office of the Agent no later than 1:00 p.m. New York City time in Federal or other immediately available funds. Upon receipt of the funds to be made available by the Lenders to fund each Borrowing hereunder, the Agent shall disburse such funds via Federal Funds wire transfer to the Borrower's account at the Custodian, ABA No. 011-001-438, Account No. 5821-5013 Control Wire, Re: Belcrest Capital Xxxx XXX - 4931, or to such Lender immediately upon request therefor;
(ix) on other account as to which the Business Day preceding the applicable Borrowing Date, if the new Accommodation or any Accommodation to be renewed or converted is by way of Bankers’ Acceptances; and
(x) on the third Business Day preceding the applicable Borrowing Date, if any new Accommodation or any Accommodation to be renewed or converted is a LIBOR Loan. In all other cases, the Borrowing Notice Borrower shall be given to the party entitled thereto on the applicable Borrowing Date. Any Borrowing Notice received by instruct the Agent on any Business Day after 12:00 p.m. (Toronto, Ontario time) shall be deemed to have been given to such party on the next succeeding Business Day, unless otherwise agreed by the Lendersin writing.
Appears in 1 contract
Samples: Loan and Security Agreement (Belcrest Capital Fund LLC)
Borrowing Notice. Whenever the Borrower desires to obtain a Borrowing (other than in the case of a Documentary Credit) it shall give to the Agent prior written notice in the form attached as Schedule 2(A), (B) or (C), as applicable (each, a “"Borrowing Notice”"), specifying, as applicable:
(i) the amount, currency and type or types of Accommodation desired;
(ii) the details of the account of the Borrower to which payment of the Borrowing is to be wired or otherwise made, if applicable;
(iii) the requested Borrowing Date;
(iv) if such Borrowing includes a Bankers' Acceptance, the term thereof;
(v) if applicable, the Accommodation to be renewed or converted and, where such Accommodation includes any Loan, the currency thereof and the interest rate applicable thereto;
(vi) if such Borrowing includes a Loan, whether it is to be a Prime Rate Loan, U.S. Base Rate Loan or a LIBOR Loan; and
(vii) if such Borrowing includes a LIBOR Loan, the LIBOR Interest Period to be applicable to such Loan. The Borrowing Notice shall be given to the Agent not later than 12:00 p.m. (Toronto, Ontario time):10:00 a.m.:
(viii) on the Business Day preceding the applicable Borrowing Date, if the new Accommodation or any Accommodation to be renewed or converted is by way of Prime Rate Loans or U.S. Base Rate Loans. In the event such Accommodation causes a Lender to incur costs relating solely to the providing of same day notice, the Borrower shall pay such costs to such Lender immediately upon request therefor;
(ix) on the Business Day preceding the applicable Borrowing Date, if the new Accommodation or any Accommodation to be renewed or converted is by way of Bankers’ ' Acceptances; and
(x) on the third Business Day preceding the applicable Borrowing Date, if any new Accommodation or any Accommodation to be renewed or converted is a LIBOR Loan. In all other cases, the Borrowing Notice shall be given to the party entitled thereto on the applicable Borrowing Date. Any Borrowing Notice received by the Agent on any Business Day after 12:00 p.m. (Toronto, Ontario time) 10:00 a.m. shall be deemed to have been given to such party on the next succeeding Business Day, unless otherwise agreed by the Lenders.
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Borrowing Notice. Whenever the Borrower desires to obtain a Borrowing (other than in the case of a Documentary Credit) Borrowing, it shall give to the Administrative Agent prior written notice in the form attached as Schedule 2(A) (Notice of Borrowing), Schedule 2(B) (BNotice of Rollover) or Schedule 2(C) (CNotice of Conversion), as applicable (each, a “Borrowing Notice”), specifying, as applicable:
(ia) the amount, currency and type or types of Accommodation desired; provided that if the type of Accommodation is not specified, then it shall be deemed to be a Prime Rate Loan;
(iib) the details of Borrower’s Account at the account of the Borrower Branch to which payment of the Borrowing is to be wired or otherwise made, if applicable;
(iiic) the requested Borrowing Date;
(ivd) the term thereof or Interest Period thereof;, as applicable; provided that if no Interest Period is specified with respect to any requested Term XXXXX Loan or Daily Compounded XXXXX Loan, then the Borrower shall be deemed to have selected an Interest Period of one (1) months duration; and
(ve) if applicable, the Accommodation to be renewed or converted and, where such Accommodation includes any Loan, the currency thereof and the interest rate applicable thereto;
(vi) if such Borrowing includes a Loan, whether it is to be a Prime Rate Loan, U.S. Base Rate Loan or a LIBOR Loan; and
(vii) if such Borrowing includes a LIBOR Loan, the LIBOR Interest Period to be applicable to such Loan. The Borrowing Notice shall be given to the Agent relevant party entitled to receive same not later than 12:00 p.m. (Toronto, Ontario time):
(viiii) on the applicable Borrowing Date, if the new Accommodation or any Accommodation to be renewed or converted is by way of Prime Rate Loans and is a new issue or U.S. Base Rate Loansif any such Accommodation to be drawn, converted or rolled over has a Canadian Dollar Amount in the aggregate equal to or greater than Five Hundred Thousand Canadian Dollars (Cdn.$500,000) and multiples of One Hundred Thousand Canadian Dollars (Cdn.$100,000) in excess thereof. In the event such Accommodation causes a Lender to incur costs relating solely to the providing of same day notice, the Borrower shall pay such costs to such Lender immediately upon request therefor;
(ixii) on the three Business Day preceding Days prior to the applicable Borrowing Date, if the new Accommodation or any Accommodation to be renewed or converted is by way of Bankers’ AcceptancesDaily Compounded XXXXX Loans and is a new issue or if any such Accommodation to be drawn, converted or rolled over has a Canadian Dollar Amount in the aggregate equal to or greater than One Million Dollars (Cdn.$1,000,000 and multiples of One Hundred Thousand Canadian Dollars (Cdn.$100,000) in excess thereof; and
(xiii) on the third two Business Day preceding Days prior to the applicable Borrowing Date, if the Accommodation is by way of Term XXXXX Loans and is a new issue or if any new Accommodation or any such Accommodation to be renewed drawn, converted or converted is rolled over has a LIBOR Loan. In all other cases, Canadian Dollar Amount in the Borrowing Notice shall be given aggregate equal to the party entitled thereto on the applicable Borrowing Dateor greater than One Million Dollars (Cdn.$1,000,000) and multiples of One Hundred Thousand Canadian Dollars (Cdn.$100,000) in excess thereof . Any Borrowing Notice received by the Administrative Agent on any Business Day after 12:00 p.m. (Toronto, Ontario time) shall be deemed to have been given to such party on the next succeeding Business Day, unless otherwise agreed by the Lenders.
Appears in 1 contract
Borrowing Notice. Whenever the Borrower desires to obtain a Each Borrowing (other than in the case of a Documentary Credit) it shall give to the Agent prior written notice in the form attached as Schedule 2(A), (B) or (C), as applicable (each, a “Borrowing Notice”), specifying, as applicable:
(i) the amount, currency and type or types of Accommodation desired;
(ii) the details of the account of the Borrower to which payment of the Borrowing is to be wired or otherwise made, if applicable;
(iii) the requested Borrowing Date;
(iv) the term thereof;
(v) if applicable, the Accommodation to be renewed or converted and, where such Accommodation includes any Loan, the currency thereof and the interest rate applicable thereto;
(vi) if such Borrowing includes a Loan, whether it is to be a Prime Rate Loan, U.S. Base Rate Loan or a LIBOR Loan; and
(vii) if such Borrowing includes a LIBOR Loan, the LIBOR Interest Period to be applicable to such Loan. The Borrowing Notice shall be made on notice, given to the Agent not later than 12:00 p.m. 11:00 A.M. (Toronto, Ontario time):
(viii) on the applicable Borrowing Date, if the new Accommodation or any Accommodation to be renewed or converted is by way of Prime Rate Loans or U.S. Base Rate Loans. In the event such Accommodation causes a Lender to incur costs relating solely to the providing of same day notice, the Borrower shall pay such costs to such Lender immediately upon request therefor;
(ix) on the Business Day preceding the applicable Borrowing Date, if the new Accommodation or any Accommodation to be renewed or converted is by way of Bankers’ Acceptances; and
(xEastern Standard Time) on the third Business Day preceding prior to the date of the proposed Borrowing, by the Borrower to the Agent, which shall give notice to each Lender thereof on the same Business Day by telex or telecopier. Each such notice of a Borrowing (a "Borrowing Notice") must be by telephone, confirmed immediately in writing, telex or telecopier, in substantially the form of Exhibit B hereto, specifying therein the requested (i) date of such Borrowing, (ii) the aggregate amount of such Borrowing, (iii) the use of proceeds of such Borrowing, and (iv) the account or accounts into which the Advances comprising such Borrowing should be funded. Each Lender shall, before 11:00 A.M. (Eastern Standard Time) on the date of such Borrowing, make available to the Agent, at the Agent's Account, in same day funds, such Lender's Ratable Share of such Borrowing in accordance with the respective Commitments not to exceed such Lender's Unused Commitment at such time. After the Agent's receipt of such funds and upon fulfillment of the applicable Borrowing Date, if any new Accommodation or any Accommodation to be renewed or converted is a LIBOR Loan. In all other casesconditions set forth in Article III, the Agent will make such funds available to the Borrower by crediting the Borrower's Account. Each Borrowing Notice shall be given irrevocable and binding on the Borrower. The Borrower shall indemnify each Lender against any loss, cost or expense incurred by such Lender as a result of any failure to fulfill on or before the date specified in such Borrowing Notice for such Borrowing the applicable conditions set forth in Article III, including, without limitation, any loss (including loss of anticipated profits), cost or expense incurred by reason of the liquidation or reemployment of deposits or other funds acquired by such Lender to fund the Advance to be made by such Lender as part of such Borrowing when such Advance, as a result of such failure, is not made on such date. Not later than 2:00 p.m. (Eastern Standard Time) on each Borrowing Date, the Agent (on behalf of each Lender) shall make available the Advance (if Agent has received funds from the Lenders as required herein), in funds immediately available to the party entitled thereto on Borrower at such account or accounts as shall have been notified to the applicable Borrowing DateAgent. Any Borrowing Notice received by Each Advance shall bear interest from and including the Agent on any Business Day after 12:00 p.m. date of the making of such Advance to (Torontobut not including) the date or repayment thereof at the Applicable LIBOR Rate, Ontario time) changing when and as the underlying LIBOR Rate changes, which interest shall be deemed to have been given to such party on the next succeeding Business Day, unless otherwise agreed by the Lenderspayable in accordance with Section 2.7(B).
Appears in 1 contract
Borrowing Notice. Whenever the Borrower desires to obtain a Borrowing (other than in the case of a Documentary Credit) it shall give to the Agent prior written notice in the form attached as Schedule 2(A), (B) or (C), as applicable (each, a “Borrowing Notice”), specifying, as applicable:
(i) the amount, currency and type or types of Accommodation desired;
(ii) the details of the account of the Borrower to which payment of the Borrowing is to be wired or otherwise made, if applicable;
(iii) the requested Borrowing Date;; RBC – AltaLink (AILP) – 2016 Credit Agreement
(iv) the term thereof;
(v) if applicable, the Accommodation to be renewed or converted and, where such Accommodation includes any Loan, the currency thereof and the interest rate applicable thereto;
(vi) if such Borrowing includes a Loan, whether it is to be a Prime Rate Loan, U.S. Base Rate Loan or a LIBOR Loan; and
(vii) if such Borrowing includes a LIBOR Loan, the LIBOR Interest Period to be applicable to such Loan. The Borrowing Notice shall be given to the Agent not later than 12:00 p.m. (Toronto, Ontario time):10:00 a.m.:
(viii) on the Business Day preceding the applicable Borrowing Date, if the new Accommodation or any Accommodation to be renewed or converted is by way of Prime Rate Loans or U.S. Base Rate Loans. In the event such Accommodation causes a Lender to incur costs relating solely to the providing of same day notice, the Borrower shall pay such costs to such Lender immediately upon request therefor;
(ix) on the Business Day preceding the applicable Borrowing Date, if the new Accommodation or any Accommodation to be renewed or converted is by way of Bankers’ Acceptances; and
(x) on the third Business Day preceding the applicable Borrowing Date, if any new Accommodation or any Accommodation to be renewed or converted is a LIBOR Loan. In all other cases, the Borrowing Notice shall be given to the party entitled thereto on the applicable Borrowing Date. Any Borrowing Notice received by the Agent on any Business Day after 12:00 p.m. (Toronto, Ontario time) 10:00 a.m. shall be deemed to have been given to such party on the next succeeding Business Day, unless otherwise agreed by the Lenders.
Appears in 1 contract
Samples: Credit Agreement (Pacificorp /Or/)
Borrowing Notice. Whenever the (a) The Borrower desires to obtain a Borrowing (other than in the case of a Documentary Credit) it shall give to the Agent prior written notice (substantially in the form attached of Exhibit D hereto or in such other form as Schedule 2(A), may be mutually agreed upon by the Borrower and the Agent (B) or (C), as applicable (each, a “"Borrowing Notice”"), specifying, as applicable:
) not later than 11:00 a.m. (New York City time) at least two Business Days before the proposed borrowing date (the "Borrowing Date") of any Borrowing specifying (i) the amount, currency Borrowing Date of such Borrowing which shall be a Business Day and type or types of Accommodation desired;
(ii) the details principal amount of such Borrowing, and certifying the account of matters contained in Section 9.2 hereof. Such notice shall be irrevocable to the extent that the Lenders or the Agent have relied on the notice to their own detriment or incurred costs and expenses in connection therewith; provided that the Borrower to which payment of the Borrowing is to be wired or otherwise mademay revoke such notice, if applicable;
(iii) the requested Borrowing Date;
(iv) the term thereof;
(v) if applicable, the Accommodation to be renewed or converted and, where such Accommodation includes in any Loan, the currency thereof and the interest rate applicable thereto;
(vi) if such Borrowing includes a Loan, whether it is to be a Prime Rate Loan, U.S. Base Rate Loan or a LIBOR Loan; and
(vii) if such Borrowing includes a LIBOR Loan, the LIBOR Interest Period to be applicable to such Loan. The Borrowing Notice shall be given to the Agent not later than 12:00 p.m. (Toronto, Ontario time):
(viii) on the applicable Borrowing Datecase, if the new Accommodation or Borrower fully reimburses the Lenders and the Agent for any Accommodation to be renewed or converted is by way of Prime Rate Loans or U.S. Base Rate Loansreasonable costs and expenses associated with their reliance on such notice. In the event addition to such Accommodation causes a Lender to incur costs relating solely to the providing of same day notice, the Borrower shall pay deliver a Compliance Certificate substantially in the form of Exhibit E hereto or in such costs other form as may be mutually agreed upon by the Borrower and the Agent (a "Compliance Certificate") to the Agent.
(b) The Agent shall promptly notify each Lender of its share of each Borrowing under this Section 2.3, the date of such Borrowing and the Interest Period applicable thereto. On the Borrowing Date specified in such notice, each Lender shall make its share of the Borrowing available at the office of the Agent no later than 1:00 p.m. New York City time in Federal or other immediately available funds. Upon receipt of the funds to be made available by the Lenders to fund each Borrowing hereunder, the Agent shall disburse such funds via Federal Funds wire transfer to the Borrower's account at the Custodian, ABA No. 011-001-438, Account No. 5821-5013 Control Wire, Re: Belair Capital Xxxx XXX - 4922, or to such Lender immediately upon request therefor;
(ix) on other account as to which the Business Day preceding the applicable Borrowing Date, if the new Accommodation or any Accommodation to be renewed or converted is by way of Bankers’ Acceptances; and
(x) on the third Business Day preceding the applicable Borrowing Date, if any new Accommodation or any Accommodation to be renewed or converted is a LIBOR Loan. In all other cases, the Borrowing Notice Borrower shall be given to the party entitled thereto on the applicable Borrowing Date. Any Borrowing Notice received by instruct the Agent on any Business Day after 12:00 p.m. (Toronto, Ontario time) shall be deemed to have been given to such party on the next succeeding Business Day, unless otherwise agreed by the Lendersin writing.
Appears in 1 contract
Samples: Loan and Security Agreement (Belair Capital Fund LLC)
Borrowing Notice. Whenever the a Borrower desires that Lenders make Revolving Loans to obtain such Borrower, such Borrower shall deliver to the Administrative Agent a fully executed Borrowing Notice no later than 11:00 a.m. (Local Time) (x) at least three Business Days in advance of the proposed Borrowing Date in the case of Eurocurrency Loans and (y) at least one Business Day in advance of the proposed Borrowing Date in the case of Base Rate Loans and Canadian Prime Rate Loans; provided that, if such Borrowing Date is the Closing Date, such Borrowing Notice may be delivered on the Closing Date with respect to Base Rate Loans and Canadian Prime Rate Loans and such period shorter than three Business Days as may be agreed by the Administrative Agent with respect to Eurocurrency Loans. If no election as to the Type of Borrowing is specified in any such Borrowing Notice, then the relevant Borrower shall be deemed to have requested a Borrowing that is (other than i) in the case of a Documentary Credit) it shall give to the Agent prior written notice US Revolving Borrowing denominated in the form attached as Schedule 2(A), (B) or (C), as applicable (eachDollars, a “Borrowing Notice”), specifying, as applicable:
(i) the amount, currency and type or types of Accommodation desired;
Base Rate Borrowing; (ii) in the details case of the account of the Borrower to which payment of the a US Revolving Borrowing is to be wired or otherwise madedenominated in Euros, if applicable;
a Eurocurrency Borrowing; (iii) in the requested case of a Canadian Revolving Borrowing Date;
denominated in Dollars, a Base Rate Borrowing; (iv) in the term thereof;
case of a Canadian Revolving Borrowing denominated in Canadian Dollars, a Canadian Prime Rate Borrowing; and (v) if applicablein the case of a UK Revolving Borrowing, the Accommodation a Eurocurrency Borrowing. If no Interest Period with respect to be renewed or converted and, where such Accommodation includes a Eurocurrency Borrowing is specified in any Loan, the currency thereof and the interest rate applicable thereto;
(vi) if such Borrowing includes a LoanNotice, whether it is to be a Prime Rate Loan, U.S. Base Rate Loan or a LIBOR Loan; and
(vii) if such Borrowing includes a LIBOR Loan, then the LIBOR Interest Period to be applicable to such Loan. The Borrowing Notice shall be given to the Agent not later than 12:00 p.m. (Toronto, Ontario time):
(viii) on the applicable Borrowing Date, if the new Accommodation or any Accommodation to be renewed or converted is by way of Prime Rate Loans or U.S. Base Rate Loans. In the event such Accommodation causes a Lender to incur costs relating solely to the providing of same day notice, the relevant Borrower shall pay such costs to such Lender immediately upon request therefor;
(ix) on the Business Day preceding the applicable Borrowing Date, if the new Accommodation or any Accommodation to be renewed or converted is by way of Bankers’ Acceptances; and
(x) on the third Business Day preceding the applicable Borrowing Date, if any new Accommodation or any Accommodation to be renewed or converted is a LIBOR Loan. In all other cases, the Borrowing Notice shall be given to the party entitled thereto on the applicable Borrowing Date. Any Borrowing Notice received by the Agent on any Business Day after 12:00 p.m. (Toronto, Ontario time) shall be deemed to have been given selected an Interest Period of one month’s duration. If no currency for a Borrowing is specified in any such Borrowing Notice, then the relevant Borrower shall be deemed to such party on the next succeeding Business Dayhave requested a Borrowing denominated in (A) with respect to a US Revolving Borrowing, unless otherwise agreed by the LendersDollars; (B) with respect to a Canadian Revolving Borrowing, Canadian Dollars; and (C) with respect to a UK Revolving Borrowing, Sterling.
Appears in 1 contract
Samples: Credit Agreement (Compass Minerals International Inc)