Borrowing Procedure for Revolving Loans. By delivering a Borrowing Request to the Lender on or before 11:00 a.m., California time, on a Business Day prior to the Revolving Loan Commitment Termination Date, the Borrower may from time to time irrevocably request, on not less five (5) Business Days’ notice and not more than seven (7) Business Days’ notice, that a Borrowing of a Revolving Loan be made in a minimum amount of One Million Dollars ($1,000,000) and an integral multiple of Five Hundred Thousand Dollars ($500,000), subject to the Quarterly Maximum and the other terms and conditions contained herein. On the terms and subject to the conditions of this Agreement, each Borrowing of a Revolving Loan shall be made on the Business Day specified in such Borrowing Request. The Lender shall make such funds available to transfer to the accounts the Borrower shall have specified in its Borrowing Request. The Borrower may not request more than one (1) Borrowing (excluding Letters of Credit) per calendar month; provided, for the month of August 2002, the Borrower may request two (2) Borrowings, two (2) on the Closing Date and one (1) additional Borrowing.
Appears in 4 contracts
Samples: Borrower Copyright Security Agreement (Titan Corp), Borrower Copyright Security Agreement (Titan Corp), Borrower Copyright Security Agreement (Surebeam Corp)
