Common use of Borrowing Requests Clause in Contracts

Borrowing Requests. To request Revolving Credit Loans pursuant to Section 2.3(a), the Borrower shall notify the Administrative Agent of such request by telephone (a) in the case of a Eurodollar Advance, not later than 12:00 P.M., New York City time, two Business Days before the date of the proposed borrowing of Revolving Credit Loans or (b) in the case of an ABR Advance, not later than 12:00 P.M., New York City time, one Business Day before the date of such proposed advance. Each such telephonic Borrowing Request shall be irrevocable and shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written Borrowing Request signed by the Borrower. Each such telephonic and written Borrowing Request shall specify the following information: (i) the aggregate amount of the requested borrowing of Revolving Credit Loans; (ii) the date of such borrowing of Revolving Credit Loans, which shall be a Business Day; (iii) whether the requested Revolving Credit Loan is to be an ABR Advance or a Eurodollar Advance; (iv) in the case of a Eurodollar Advance, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term "Interest Period"; and (v) the location and number of the Borrower's account to which funds are to be disbursed, which shall comply with the requirements of Section 2.3(d).

Appears in 2 contracts

Samples: Credit Agreement (New Plan Excel Realty Trust Inc), Credit Agreement (New Plan Excel Realty Trust Inc)

AutoNDA by SimpleDocs

Borrowing Requests. To request Revolving Credit Loans pursuant Subject to Section 2.3(athe limitations set forth in Sections 2.1 and 2.3(b), the Borrower shall notify may borrow under the Commitments on any Business Day during the Commitment Period by providing notice thereof to the Administrative Agent of such request by telephone (a) in the case of a Eurodollar Advance, not later than 12:00 P.M.11:00 A.M., New York City time, two three Business Days before the date of the proposed borrowing of Revolving Credit Loans borrowing, or (b) in the case of an ABR Advance, not later than 12:00 P.M.11:00 A.M., New York City time, one Business Day before the date of such proposed advance. Each such telephonic Borrowing Request borrowing request shall be irrevocable and shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written Borrowing Request signed by the Borrower. Each such telephonic request and each written Borrowing Request shall specify the following information: (i) the aggregate amount of the requested borrowing of Revolving Credit Loans; (ii) the date of such borrowing of Revolving Credit Loans, which shall be a Business Day; (iii) whether the requested Revolving Credit Loan is to be an ABR Advance or a Eurodollar Advance; (iv) in the case of a Eurodollar Advance, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term "Interest Period"; and (v) the location and number of the Borrower's ’s account to which funds are to be disbursed, which shall comply with disbursed (such account being subject to the requirements provisions of Section 2.3(d2.3(c)).

Appears in 2 contracts

Samples: Credit Agreement (Urstadt Biddle Properties Inc), Credit Agreement (Urstadt Biddle Properties Inc)

Borrowing Requests. To request Revolving Credit Loans pursuant Subject to Section 2.3(athe limitations set forth in Sections 2.1 and 2.3(b), the Borrower shall notify may borrow under the Commitments on any Business Day during the Commitment Period by providing notice thereof to the Administrative Agent of such request by telephone (a) in the case of a Eurodollar Advance, not later than 12:00 P.M.11:00 A.M., New York City time, two three Business Days before the date of the proposed borrowing of Revolving Credit Loans borrowing, or (b) in the case of an ABR Advance, not later than 12:00 P.M.11:00 A.M., New York City time, one Business Day before the date of such proposed advance. Each such telephonic Borrowing Request borrowing request shall be irrevocable and shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written Borrowing Request signed by the Borrower. Each such telephonic request and each written Borrowing Request shall specify the following information: (i) the aggregate amount of the requested borrowing of Revolving Credit Loans; (ii) the date of such borrowing of Revolving Credit Loans, which shall be a Business Day; (iii) whether the requested Revolving Credit Loan is to be an ABR Advance or a Eurodollar Advance; (iv) in the case of a Eurodollar Advance, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term "Interest Period"; and (v) the location and number of the Borrower's account to which funds are to be disbursed, which shall comply with disbursed (such account being subject to the requirements provisions of Section 2.3(d2.3(c)).

Appears in 2 contracts

Samples: Credit Agreement (Urstadt Biddle Properties Inc), Credit Agreement (Urstadt Biddle Properties Inc)

Borrowing Requests. To request Revolving Credit Loans pursuant to Section 2.3(a), the Borrower shall notify the Administrative Agent of such request by telephone (a) in the case of a Eurodollar Advance, not later than 12:00 P.M., New York City time, two Business Days before the date of the proposed borrowing of Revolving Credit Loans or (b) in the case of an ABR Advance, not later than 12:00 P.M., New York City time, one Business Day before the date of such proposed advance (or on the same date of such proposed advance, in the case of a borrowing required pursuant to Section 7.13). Each such telephonic Borrowing Request shall be irrevocable and shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written Borrowing Request signed by the Borrower. Each such telephonic and written Borrowing Request shall specify the following information: (i) the aggregate amount of the requested borrowing of Revolving Credit Loans; (ii) the date of such borrowing of Revolving Credit Loans, which shall be a Business Day; (iii) whether the requested Revolving Credit Loan is to be an ABR Advance or a Eurodollar Advance; (iv) in the case of a Eurodollar Advance, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term "Interest Period"; and (v) the location and number of the Borrower's account to which funds are to be disbursed, which shall comply with the requirements of Section 2.3(d).

Appears in 1 contract

Samples: Credit Agreement (New Plan Excel Realty Trust Inc)

AutoNDA by SimpleDocs

Borrowing Requests. To request Revolving Credit Loans pursuant Subject to Section 2.3(athe limitations set forth in Sections 2.1 and 2.3(b), the Borrower shall notify may borrow under the Commitments on any Business Day during the Commitment Period by providing notice thereof to the Administrative Agent of such request by telephone (a) in the case of a Eurodollar EurodollarSOFR Advance, not later than 12:00 P.M.11:00 A.M., New York City time, two three U.S. Government Securities Business Days before the date of the proposed borrowing of Revolving Credit Loans borrowing, or (b) in the case of an ABR Advance, not later than 12:00 P.M.11:00 A.M., New York City time, one Business Day before the date of such proposed advance. Each such telephonic Borrowing Request borrowing request shall be irrevocable and shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written Borrowing Request signed by the Borrower. Each such telephonic request and each written Borrowing Request shall specify the following information: (i) the aggregate amount of the requested borrowing of Revolving Credit Loans; (ii) the date of such borrowing of Revolving Credit Loans, which shall be a Business Day; (iii) whether the requested Revolving Credit Loan is to be an ABR Advance or a Eurodollar EurodollarSOFR Advance; (iv) in the case of a Eurodollar EurodollarSOFR Advance, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term "Interest Period"; and (v) the location and number of the Borrower's ’s account to which funds are to be disbursed, which shall comply with disbursed (such account being subject to the requirements provisions of Section 2.3(d2.3(c)).

Appears in 1 contract

Samples: Credit Agreement (Urstadt Biddle Properties Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!