Borrowing Procedures Under Equipment Facility Sample Clauses

Borrowing Procedures Under Equipment Facility. If the Borrower desire to borrow under the Equipment Facility, the Borrower shall give the Bank a notice of the amount and date of such borrowing by no later than 3 Business Days prior to the proposed funding of the relevant Equipment Loan. Such notice shall be in the form of the "Notice of Borrowing Under Equipment Facility" attached hereto as Exhibit B and shall be accompanied by (i) true and complete description of the Financed Equipment to be acquired with the proceeds of the proposed Equipment Loan, the location (or proposed location) of such equipment, the identity of the record owner of such location and if title to such equipment is to be held by a Subsidiary of the Borrower, the identity of such Subsidiary, and (ii) a true and correct copy of the vendor's invoice or xxxx of sale, as the case may be, rendered in connection with the purchase of such equipment, which shall be accompanied by the payment instructions of such vendor to permit the Bank to fund the proceeds of the relevant Equipment Loan directly to such vendor. Upon receipt of any such notice, the Bank may, in its sole discretion, request any documents or instruments (including, without limitation, additional financing statements, certificate or documents of title and/or additional security agreements substantially in the form of Exhibit G attached hereto that are necessary or advisable in order to assure the Bank's first priority security interest in the relevant Financed Equipment and in connection with such request, the Bank may refuse or postpone the funding of the relevant Equipment Loan until such time as the relevant Borrower has complied therewith. Said Notice of Borrowing Under Equipment Facility shall also specify the desired term of the relevant Equipment Loan, which shall be either 24, 36 or 48 months in duration (each such proposed term, an "Equipment Loan Term"). Promptly upon receipt of said notice, the Bank shall give the Borrower notice of the Fixed Rate to be applicable to the proposed Equipment Loan base upon the desired Equipment Loan Term. The principal amount of any Equipment Loan requested hereunder shall not exceed one hundred percent (100%) of the purchase price of the relevant Financed Equipment as stated on the invoice or xxxx of sale accompanying the relevant notice of borrowing, but in no event shall any Equipment Loan be in a principal amount of less than $100,000. Notwithstanding anything in this Section 1.03 to the contrary, the obligation of the Bank to f...
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Borrowing Procedures Under Equipment Facility. If a Borrower desires to borrow under the Equipment Facility, the relevant Borrower shall give the Bank an irrevocable notice of the amount and date of such borrowing by no later than 3 Business Days prior to the proposed borrowing. Such notice shall be in the form of the "Notice of Borrowing Under Equipment Facility" attached hereto as Exhibit B and shall be accompanied by (i) a true and complete description of the Financed Equipment and the location (or proposed location) of such equipment, and (ii) a true and correct copy of the vendor's invoice or bill of sale, as the xxxx may be, rendered in connection with the purchase of such equipment. Upon receipt of any such notice, the Bank may, in its sole discretion, request any documents or instruments (including, without limitation, additional financing statements and/or certificate or documents of title) that are necessary or advisable in order to assure the Bank's first priority security interest in the relevant Financed Equipment and in connection with such request, the Bank may refuse or postpone the funding of the relevant Equipment Loan until such time as the relevant Borrower has complied therewith. The Borrowers shall pay to the Bank on demand the costs to be incurred in connection with the filing or recordation of any such document or instrument so requested. The principal amount of any Equipment Loan requested hereunder shall not exceed eighty percent (80%) of the purchase price of the relevant Financed Equipment as stated on the invoice or bill of sale accompanxxxx the relevant notice of borrowing, but in no event shall any Equipment Loan be in a principal amount of less than $50,000.00.
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Related to Borrowing Procedures Under Equipment Facility

  • Borrowing Procedures Each Swing Line Borrowing shall be made upon the Borrower’s irrevocable notice to the Swing Line Lender and the Administrative Agent, which may be given by telephone. Each such notice must be received by the Swing Line Lender and the Administrative Agent not later than 1:00 p.m. on the requested borrowing date, and shall specify (i) the amount to be borrowed, which shall be a minimum of $100,000, and (ii) the requested borrowing date, which shall be a Business Day. Each such telephonic notice must be confirmed promptly by delivery to the Swing Line Lender and the Administrative Agent of a written Swing Line Loan Notice, appropriately completed and signed by a Responsible Officer of the Borrower. Promptly after receipt by the Swing Line Lender of any telephonic Swing Line Loan Notice, the Swing Line Lender will confirm with the Administrative Agent (by telephone or in writing) that the Administrative Agent has also received such Swing Line Loan Notice and, if not, the Swing Line Lender will notify the Administrative Agent (by telephone or in writing) of the contents thereof. Unless the Swing Line Lender has received notice (by telephone or in writing) from the Administrative Agent (including at the request of any Lender) prior to 2:00 p.m. on the date of the proposed Swing Line Borrowing (A) directing the Swing Line Lender not to make such Swing Line Loan as a result of the limitations set forth in the proviso to the first sentence of Section 2.04(a), or (B) that one or more of the applicable conditions specified in Article IV is not then satisfied, then, subject to the terms and conditions hereof, the Swing Line Lender will, not later than 3:00 p.m. on the borrowing date specified in such Swing Line Loan Notice, make the amount of its Swing Line Loan available to the Borrower at its office by crediting the account of the Borrower on the books of the Swing Line Lender in immediately available funds.

  • Borrowing Procedure In order to request a Borrowing (other than a Swingline Loan or a deemed Borrowing pursuant to Section 2.02(f), as to which this Section 2.03 shall not apply), the Borrower shall notify the Administrative Agent by telephone (promptly confirmed by fax) or shall hand deliver or fax to the Administrative Agent a duly completed Borrowing Request (a) in the case of a Eurodollar Borrowing, not later than 12:00 (noon), New York City time, three Business Days before a proposed Borrowing and (b) in the case of an ABR Borrowing, not later than 12:00 (noon), New York City time, one Business Day before a proposed Borrowing. Each Borrowing Request shall be irrevocable, shall be signed by or on behalf of the Borrower and shall specify the following information: (i) whether the Borrowing then being requested is to be a Term Borrowing or a Revolving Credit Borrowing, and whether such Borrowing is to be a Eurodollar Borrowing or an ABR Borrowing; (ii) the date of such Borrowing (which shall be a Business Day); (iii) the number and location of the account to which funds are to be disbursed; (iv) the amount of such Borrowing; and (v) if such Borrowing is to be a Eurodollar Borrowing, the initial Interest Period with respect thereto; provided, however, that, notwithstanding any contrary specification in any Borrowing Request, each requested Borrowing shall comply with the requirements set forth in Section 2.02. If no election as to the Type of Borrowing is specified in any such notice, then the requested Borrowing shall be an ABR Borrowing. If no Interest Period with respect to any Eurodollar Borrowing is specified in any such notice, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. The Administrative Agent shall promptly advise the applicable Lenders of any notice given in accordance with this Section 2.03 (and the contents thereof), and of each Lender’s portion of the requested Borrowing.

  • Borrowing Procedures and Settlements (a) Each Revolving Facility Borrowing or a Borrowing of Other Revolving Loans shall be made by a written request by an Authorized Person delivered to the Administrative Agent (which may be delivered through the Administrative Agent’s electronic platform or portal) and received by the Administrative Agent no later than 2:00 p.m., Local Time, (i) on the Business Day that is the requested funding date in the case of a request for a Swingline Borrowing, (ii) on the Business Day that is one Business Day prior to the requested funding date in the case of a request for a Base Rate Borrowing, and (iii) on the Business Day that is three Business Days prior to the requested funding date in the case of all other requests, specifying (A) the amount of such Borrowing, and (B) the requested funding date (which shall be a Business Day); provided that the Administrative Agent may, in its sole discretion, elect to accept as timely requests that are received later than 2:00 p.m., Local Time, on the applicable Business Day. 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 sole discretion, such Borrowing 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 Loan. Each such Borrowing request shall specify the following information in compliance with Section 2.02:

  • Calculation of Borrowing Base For purposes of this Agreement, the “Borrowing Base” shall be determined, as at any date of determination, as the sum of the products obtained by multiplying (x) the Value of each Eligible Portfolio Investment by (y) the applicable Advance Rate; provided that:

  • Determination of Borrowing Base The Borrowing Base at any time shall be determined by reference to the most recent Borrowing Base Certificate and Monthly Servicing Report delivered to the Administrative Agent.

  • Procedure for Revolving Advances Borrowing (a) Borrower may notify Agent prior to 1:00 p.m. on a Business Day of Borrower’s request to incur, on that day, a Revolving Advance hereunder. Should any amount required to be paid as interest hereunder, or as fees or other charges under this Agreement or any other agreement with Agent or Lenders, or with respect to any other Obligation, become due, same shall be deemed a request for a Revolving Advance as of the date such payment is due, in the amount required to pay in full such interest, fee, charge or Obligation under this Agreement or any other agreement with Agent or Lenders, and such request shall be irrevocable.

  • Optional Conversion of Revolving Credit Advances The Borrower may on any Business Day, upon notice given to the Agent not later than 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.07 and 2.11(a), Convert all Revolving Credit Advances of one Type comprising the same Borrowing into Revolving Credit Advances of the other Type (it being understood that such Conversion of a Revolving Credit Advance or of its Interest Period does not constitute a repayment or prepayment of such Revolving Credit Advance); provided, however, that any Conversion of Eurodollar Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Rate Advances, any Conversion of Base Rate Advances into Eurodollar Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and no Conversion of any Revolving Credit Advances shall result in more separate Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall be substantially in the form of Exhibit H hereto, and shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Revolving Credit Advances to be Converted, and (iii) if such Conversion is into Eurodollar Rate Advances, the duration of the initial Interest Period for each such Eurodollar Rate Advance. Each notice of Conversion shall be irrevocable and binding on the Borrower.

  • Procedure for Advances of Revolving Credit Loans and Swingline Loans Section 2.4 Repayment and Prepayment of Revolving Credit and Swingline Loans

  • Borrowing Base Redetermination Pursuant to Section 2.07, the Administrative Agent and the Lenders agree that for the period from and including the First Amendment Effective Date to but excluding the next Redetermination Date, the amount of the Borrowing Base shall be equal to $450,000,000. Notwithstanding the foregoing, the Borrowing Base may be subject to further adjustments from time to time pursuant to Section 2.07(e), Section 2.07(f) or Section 8.12(c). For the avoidance of doubt, the redetermination herein shall constitute the April 1, 2017 Scheduled Redetermination and the next Scheduled Redetermination shall be the October 1, 2017 Scheduled Redetermination.

  • Increased Costs Reserves on Eurodollar Rate Loans (a) Increased Costs Generally. If any Change in Law shall:

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