Common use of Borrowings, Conversions and Continuations of Revolving Credit Loans Clause in Contracts

Borrowings, Conversions and Continuations of Revolving Credit Loans. (a) Each Term Borrowing, each Revolving Credit Borrowing, each conversion of Term Loans or Revolving Credit Loans from one Type to the other, and each continuation of Eurodollar Rate Loans shall be made upon the Company’s irrevocable notice to the Administrative Agent, which may be given by (A) telephone, or (B) a Loan Notice; provided that any telephone notice must be confirmed promptly by delivery to the Administrative Agent of a Loan Notice. Each such notice must be received by the Administrative Agent not later than 9:00 a.m. (i) three Business Days prior to the requested date of any Borrowing of, conversion to or continuation of Eurodollar Rate Loans or of any conversion of Eurodollar Rate Loans to Base Rate Loans, and (ii) on the requested date of any Borrowing of Base Rate Loans; provided, however, that if the Company wishes to request Eurodollar Rate Loans having an Interest Period other than one, two, three or six months in duration as provided in the definition of “Interest Period,” the applicable notice must be received by the Administrative Agent not later than 9:00 a.m. four Business Days prior to the requested date of such Borrowing, conversion or continuation, whereupon the Administrative Agent shall give prompt notice to the Lenders of such request and determine whether the requested Interest Period is acceptable to all of them. Not later than 10:00 a.m., three Business Days before the requested date of such Borrowing, conversion or continuation, the Administrative Agent shall notify the Company (which notice may be by telephone) whether or not the requested Interest Period has been consented to by all the Lenders. Each Borrowing of, conversion to or continuation of Eurodollar Rate Loans shall be in a principal amount of $3,000,000 or a whole multiple of $1,000,000 in excess thereof. Except as provided in Sections 2.03(c) and 2.04(c), each Borrowing of or conversion to Base Rate Loans shall be in a principal amount of $1,000,000 or a whole multiple of $500,000 in excess thereof. Each Loan Notice (whether telephonic or written) shall specify (i) whether the Company is requesting a Term Borrowing, a Revolving Credit Borrowing, a conversion of Term Loans or Revolving Credit Loans from one Type to the other, or a continuation of Eurodollar Rate Loans, (ii) the requested date of the Borrowing, conversion or continuation, as the case may be (which shall be a Business Day), (iii) the principal amount of Loans to be borrowed, converted or continued, (iv) the Type of Loans to be borrowed or to which existing Loans are to be converted, (v) if applicable, the duration of the Interest Period with respect thereto and (vi) the Borrower for which such Borrowing is requested. If the Company fails to specify a Type of Loan in a Loan Notice, then the applicable Loans shall be made as Base Rate Loans. Notwithstanding the foregoing, with respect to any Eurodollar Rate Loan made hereunder, if the Company fails to specify a Type of Loan in the Loan Notice relating to such outstanding Eurodollar Rate Loan or fails to deliver a Loan Notice requesting continuation or conversion of such outstanding Eurodollar Rate Loan, then such Eurodollar Rate Loan shall be continued as a Eurodollar Rate Loan with an Interest Period of one month. If the Company requests a Borrowing of, conversion to, or continuation of Eurodollar Rate Loans in any such Loan Notice, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one month. Any automatic continuation of a Eurodollar Rate Loan shall be effective as of the last day of the Interest Period then in effect with respect to such Eurodollar Rate Loan.

Appears in 5 contracts

Samples: Credit Agreement (Granite Construction Inc), Credit Agreement (Granite Construction Inc), Credit Agreement (Granite Construction Inc)

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Borrowings, Conversions and Continuations of Revolving Credit Loans. (a) Each Term Revolving Credit Borrowing, each Revolving Credit the Term Loan Borrowing, each conversion of Term Loans or Revolving Credit Loans from one Type to the other, and each continuation of Eurodollar Term SOFR Loans or Alternative Currency Term Rate Loans shall be made upon the Company’s irrevocable notice to the Administrative Agent, which may be given by (A) telephone, or (B) a Loan Notice; provided that any telephone notice must be confirmed promptly by delivery to the Administrative Agent of a Loan Notice. Each such notice must be received by the Administrative Agent not later than 9:00 10:00 a.m. (i) three two Business Days prior to the requested date of any Borrowing of, conversion to or continuation of Eurodollar Rate Term SOFR Loans or of any conversion of Eurodollar Rate Term SOFR Loans to Base Rate Loans, (ii) four Business Days (or five Business Days in the case of a Special Notice Currency) prior to the requested date of any Borrowing of, conversion to or continuation of any Alternative Currency Loans, and (iiiii) on the requested date of any Borrowing of Base Rate Loans; provided, however, that if . Each telephonic notice by the Company wishes pursuant to request Eurodollar Rate Loans having an Interest Period other than one, two, three or six months in duration as provided in the definition of “Interest Period,” the applicable notice this Section 2.02(a) must be received confirmed promptly by delivery to the Administrative Agent not later than 9:00 a.m. four Business Days prior to of a written Loan Notice, appropriately completed and signed by a Responsible Officer of the requested date of such Borrowing, conversion or continuation, whereupon the Administrative Agent shall give prompt notice to the Lenders of such request and determine whether the requested Interest Period is acceptable to all of them. Not later than 10:00 a.m., three Business Days before the requested date of such Borrowing, conversion or continuation, the Administrative Agent shall notify the Company (which notice may be by telephone) whether or not the requested Interest Period has been consented to by all the LendersCompany. Each Borrowing of, conversion to or continuation of Eurodollar Term SOFR Loans or Alternative Currency Term Rate Loans shall be in a principal amount of the Dollar Equivalent of $3,000,000 1,000,000 or a whole multiple of the Dollar Equivalent of $1,000,000 in excess thereof. Except as provided in Sections 2.03(c) and 2.04(c), each Borrowing of or conversion to Base Rate Loans shall be in a principal amount of the Dollar Equivalent of $1,000,000 500,000 or a whole multiple of the Dollar Equivalent of $500,000 100,000 in excess thereof. Each Loan Notice (whether telephonic or written) shall specify (i) whether the Company is requesting a Term Loan Borrowing, a Revolving Credit Borrowing, a conversion of Term Loans or Revolving Credit Loans from one Type to the other, or a continuation of Eurodollar Term SOFR Loans or Alternative Currency Term Rate Loans, (ii) the requested date of the Borrowing, (which in the case of a Borrowing of RPS Acquisition Loans, shall be during the RPS Availability Period (including, for the avoidance of doubt, the RPS Acquisition Closing Date)), conversion or continuation, as the case may be (which shall be a Business Day), (iii) the principal amount of Loans to be borrowedborrowed (and whether such Loans constitute RPS Acquisition Loans), converted or continued, (iv) the Type of Loans to be borrowed or to which existing Term Loans or Revolving Credit Loans are to be converted, (v) if applicable, the duration of the Interest Period with respect thereto and thereto, (vi) the Borrower for which such Borrowing is requestedcurrency of the Revolving Credit Loans to be borrowed, and (vii) if applicable, the Designated Borrower. If the Company fails to specify a currency in a Loan Notice requesting a Borrowing, then the Revolving Credit Loans so requested shall be made in Dollars. If the Company fails to specify a Type of Loan in a Loan Notice, then the applicable Loans shall be made as Base Rate Loans. Notwithstanding the foregoing, with respect to any Eurodollar Rate Loan made hereunder, Notice or if the Company fails to specify give a Type of Loan timely notice requesting a conversion or continuation, then the applicable Term Loans or Revolving Credit Loans shall be made as, or converted to, Base Rate Loans; provided, however, that in the Loan Notice relating case of a failure to timely request a continuation of Alternative Currency Term Rate Loans, such outstanding Eurodollar Rate Loan or fails to deliver a Loan Notice requesting continuation or conversion of such outstanding Eurodollar Rate Loan, then such Eurodollar Rate Loan Loans shall be continued as a Eurodollar Alternative Currency Term Rate Loan Loans in their original currency with an Interest Period of one month. Any such automatic conversion to Base Rate Loans shall be effective as of the last day of the Interest Period then in effect with respect to the applicable Term SOFR Loans. If the Company requests a Borrowing of, conversion to, or continuation of Eurodollar Alternative Currency Term Rate Loans or Term SOFR Loans in any such Loan Notice, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one month. Any automatic continuation No Revolving Credit Loan may be converted into or continued as a Revolving Credit Loan denominated in a different currency, but instead must be prepaid in the original currency of a Eurodollar Rate such Revolving Credit Loan shall be effective as of and reborrowed in the last day of the Interest Period then in effect with respect to such Eurodollar Rate Loanother currency.

Appears in 2 contracts

Samples: Credit Agreement (Tetra Tech Inc), Credit Agreement

Borrowings, Conversions and Continuations of Revolving Credit Loans. (a) Each Term Loan Borrowing, each Revolving Credit Borrowing, each conversion of Term Loans or Revolving Credit Loans denominated in Dollars from one Type Eurocurrency Loans to the otherBase Rate Loans (or from Base Rate Loans to Eurocurrency Loans), and each continuation of Eurodollar Eurocurrency Rate Loans shall be made upon the CompanyBorrower’s irrevocable notice to the Administrative Agent, which may be given by (A) telephone, or (B) a Committed Loan Notice; provided that any telephone telephonic notice must be confirmed promptly by delivery to the Administrative Agent of a Committed Loan Notice. Each such notice Committed Loan Notice must be received by the Administrative Agent not later than 9:00 a.m. (i) 11:00 a.m., Local Time, three (3) Business Days prior to the requested date of any Borrowing of, conversion to or continuation of Eurodollar Eurocurrency Rate Loans or of any conversion of Eurodollar Eurocurrency Rate Loans to Base Rate Loans, Loans and (ii) 11:00 a.m., New York City time, on the requested date of any Borrowing of Base Rate Loans; provided, however, that if the Company Borrower wishes to request Eurodollar Eurocurrency Rate Loans having an Interest Period other than one, two, three or of six months in duration as provided in the definition of “Interest Period,” the applicable notice must be received by the Administrative Agent not later than 9:00 a.m. 11:00 a.m., Local Time, four Business Days prior to the requested date of such Borrowing, conversion or continuation, whereupon the Administrative Agent shall give prompt notice to the Appropriate Lenders of such request and determine whether the requested Interest Period is acceptable to all of them. Not later than 10:00 11:00 a.m., Local Time, three Business Days before the requested date of such a Borrowing, conversion or continuationcontinuation of Eurocurrency Rate Loans having an Interest Period of six months, the Administrative Agent shall notify the Company Borrower (which notice may be by telephone) whether or not the requested Interest Period has been consented to by all the Appropriate Lenders. Each Borrowing of, conversion to or continuation of Eurodollar Eurocurrency Rate Loans shall be in a principal amount of $3,000,000 5,000,000 or a whole multiple of $1,000,000 in excess thereofthereof (or, in the case of Foreign Currency Revolving Credit Loans, the Applicable Minimum Amount). Except as provided in Sections 2.03(c) and 2.04(c)Each Borrowing of, each Borrowing of or conversion to to, Base Rate Loans shall be in a principal amount of (x) with respect to Term Loans, $1,000,000 5,000,000 or a whole multiple of $1,000,000 in excess thereof and (y) with respect to Revolving Credit Loans, $500,000 or a whole multiple of $100,000 in excess thereof. Each Committed Loan Notice (whether telephonic or written) shall specify (i) whether the Company Borrower is requesting a Term Loan Borrowing, a Revolving Credit Borrowing, a conversion of Term Loans or Revolving Credit Loans from one Type to the other, or a continuation of Eurodollar Eurocurrency Rate Loans, (ii) the requested date of the Borrowing, conversion or continuation, as the case may be (which shall be a Business Day), (iii) the principal amount of Loans to be borrowed, converted or continued, and, in the case of Revolving Credit Loans, whether such Revolving Credit Loans shall be denominated in Dollars, Pounds Sterling, or Euro, (iv) the Type of Loans to be borrowed or to which existing Term Loans or Revolving Credit Loans are to be converted, and (v) if applicable, the duration of the Interest Period with respect thereto and (vi) the Borrower for which such Borrowing is requestedshall be one, two, three or six months). If the Company Borrower fails to specify a Type of Loan in a Committed Loan NoticeNotice or if the Borrower fails to give a timely notice requesting a conversion or continuation, then the applicable Term Loans or Revolving Credit Loans shall be made as as, or converted to, Base Rate Loans. Notwithstanding ; provided that, notwithstanding the foregoing, with respect to any Eurodollar Rate Loan made hereunder, if the Company fails Borrower shall fail to specify give notice of continuation of a Type of Foreign Currency Revolving Credit Loan in the Loan Notice relating to such outstanding Eurodollar Rate Loan or fails to deliver which is a Loan Notice requesting continuation or conversion of such outstanding Eurodollar Rate Eurocurrency Loan, then such Eurodollar Rate Foreign Currency Revolving Credit Loan shall be automatically continued as a Eurodollar Rate Loan with for an Interest Period of one month. Any automatic conversion to Base Rate Loans pursuant to this paragraph shall be effective as of the last day of the Interest Period then in effect with respect to the applicable Eurocurrency Rate Loans. If the Company Borrower requests a Borrowing of, conversion to, or continuation of Eurodollar Eurocurrency Rate Loans in any such Committed Loan Notice, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one month. Any automatic continuation of a Eurodollar Rate Loan shall be effective as of the last day of the Interest Period then in effect with respect to such Eurodollar Rate Loan.

Appears in 1 contract

Samples: Credit Agreement (Starwood Property Trust, Inc.)

Borrowings, Conversions and Continuations of Revolving Credit Loans. (a) Each Term Borrowing, each Borrowing of Revolving Credit BorrowingLoans, each conversion of Term Loans or Revolving Credit Loans from one Type to the other, and each continuation of Eurodollar Rate Term Benchmark Loans shall be made upon the CompanyBorrower’s irrevocable notice to the Administrative Agent, which may be given by (A) telephone, or (B) submitting a Loan Notice; provided that any telephone notice must be confirmed promptly by delivery to the Administrative Agent of a Loan NoticeRequest for Credit Extension. Each such notice must be received by the Administrative Agent not later than 9:00 11:00 a.m. (i) three (3) Business Days prior to the requested date of any Borrowing of, conversion to or continuation of Eurodollar Rate Term Benchmark Loans or of any conversion of Eurodollar Rate Term Benchmark Loans to Base Rate Loans, and (ii) on the requested date of any Borrowing of Base Rate Loans; provided, however, that if the Company wishes to request Eurodollar Rate Loans having an Interest Period other than one, two, three or six months in duration as provided in the definition of “Interest Period,” the applicable notice . Each such Committed Loan Notice must be received appropriately completed and signed by a Responsible Officer of the Administrative Agent not later than 9:00 a.m. four Business Days prior to the requested date of such Borrowing, conversion or continuation, whereupon the Administrative Agent shall give prompt notice to the Lenders of such request and determine whether the requested Interest Period is acceptable to all of them. Not later than 10:00 a.m., three Business Days before the requested date of such Borrowing, conversion or continuation, the Administrative Agent shall notify the Company (which notice may be by telephone) whether or not the requested Interest Period has been consented to by all the LendersBorrower. Each Borrowing of, conversion to or continuation of Eurodollar Rate Term Benchmark Loans shall be in a principal amount of $3,000,000 1,000,000 or a whole multiple of $1,000,000 100,000 in excess thereof. Except as provided in Sections 2.03(c) and 2.04(cSection 2.03(e), each Borrowing of or conversion to Base Rate Loans shall be in a principal amount of $1,000,000 100,000 or a whole multiple of $500,000 100,000 in excess thereof. Each Committed Loan Notice (whether telephonic or written) shall specify (i) whether the Company Borrower is requesting a Term Borrowing, a Revolving Credit Borrowing, a conversion of Term Loans or Revolving Credit Loans from one Type to the other, or a continuation of Eurodollar Rate Term Benchmark Loans, (ii) the requested date of the Borrowing, conversion or continuation, as the case may be (which shall be a Business Day), (iii) the principal amount of Revolving Credit Loans to be borrowed, converted or continued, (iv) the Type of Revolving Credit Loans to be borrowed or to which existing Revolving Credit Loans are to be converted, and (v) if applicable, the duration of the Interest Period with respect thereto and (vi) the Borrower for which such Borrowing is requestedthereto. If the Company Borrower fails to specify a Type of Revolving Credit Loan in a Committed Loan NoticeNotice or if the Borrower fails to give a timely notice requesting a conversion or continuation, then the applicable Revolving Credit Loans shall be made as as, or converted to, Base Rate Loans. Notwithstanding Any such automatic conversion to Base Rate Loans shall be effective as of the foregoing, last day of the Interest Period then in effect with respect to any Eurodollar Rate Loan made hereunder, if the Company fails to specify a Type of Loan in the Loan Notice relating to such outstanding Eurodollar Rate Loan or fails to deliver a Loan Notice requesting continuation or conversion of such outstanding Eurodollar Rate Loan, then such Eurodollar Rate Loan shall be continued as a Eurodollar Rate Loan with an Interest Period of one monthapplicable Term Benchmark Loans. If the Company Borrower requests a Borrowing of, conversion to, or continuation of Eurodollar Rate Term Benchmark Loans in any such Committed Loan Notice, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one month. Any automatic continuation of Notwithstanding anything to the contrary herein, a Eurodollar Rate Swingline Loan shall may not be effective as of the last day of the Interest Period then in effect with respect to such Eurodollar Rate Loanconverted or continued.

Appears in 1 contract

Samples: Credit Agreement (MSCI Inc.)

Borrowings, Conversions and Continuations of Revolving Credit Loans. (a) Each Term Borrowing, each Revolving Credit Borrowing, each conversion of Term Loans or Revolving Credit Loans from one Type to the other, and each continuation of Eurodollar Rate Loans shall be made upon the Company’s irrevocable notice to the Administrative Agent, which may be given by (A) telephone, or (B) a Loan Notice; provided that any telephone notice must be confirmed promptly by delivery to the Administrative Agent of a Loan Notice. Each such notice must be received by the Administrative Agent not later than 9:00 a.m. (i) three Business Days prior to the requested date of any 70290124_9 Borrowing of, conversion to or continuation of Eurodollar Rate Loans or of any conversion of Eurodollar Rate Loans to Base Rate Loans, and (ii) on the requested date of any Borrowing of Base Rate Loans; provided, however, that if the Company wishes to request Eurodollar Rate Loans having an Interest Period other than one, two, three or six months in duration as provided in the definition of “Interest Period,” the applicable notice must be received by the Administrative Agent not later than 9:00 a.m. four Business Days prior to the requested date of such Borrowing, conversion or continuation, whereupon the Administrative Agent shall give prompt notice to the Lenders of such request and determine whether the requested Interest Period is acceptable to all of them. Not later than 10:00 a.m., three Business Days before the requested date of such Borrowing, conversion or continuation, the Administrative Agent shall notify the Company (which notice may be by telephone) whether or not the requested Interest Period has been consented to by all the Lenders. Each Borrowing of, conversion to or continuation of Eurodollar Rate Loans shall be in a principal amount of $3,000,000 or a whole multiple of $1,000,000 in excess thereof. Except as provided in Sections 2.03(c) and 2.04(c), each Borrowing of or conversion to Base Rate Loans shall be in a principal amount of $1,000,000 or a whole multiple of $500,000 in excess thereof. Each Loan Notice (whether telephonic or written) shall specify (i) whether the Company is requesting an Initial Term Borrowing, a Subsequent Term Borrowing, a Revolving Credit Borrowing, a conversion of Term Loans or Revolving Credit Loans from one Type to the other, or a continuation of Eurodollar Rate Loans, (ii) the requested date of the Borrowing, conversion or continuation, as the case may be (which shall be a Business Day), (iii) the principal amount of Loans to be borrowed, converted or continued, (iv) the Type of Loans to be borrowed or to which existing Loans are to be converted, (v) if applicable, the duration of the Interest Period with respect thereto and (vi) the Borrower for which such Borrowing is requested. If the Company fails to specify a Type of Loan in a Loan NoticeNotice or if the Company fails to give a timely notice requesting a conversion or continuation, then the applicable Loans shall be made as as, or converted to, Base Rate Loans. Notwithstanding Any such automatic conversion to Base Rate Loans shall be effective as of the foregoing, last day of the Interest Period then in effect with respect to any the applicable Eurodollar Rate Loan made hereunder, if the Company fails to specify a Type of Loan in the Loan Notice relating to such outstanding Eurodollar Rate Loan or fails to deliver a Loan Notice requesting continuation or conversion of such outstanding Eurodollar Rate Loan, then such Eurodollar Rate Loan shall be continued as a Eurodollar Rate Loan with an Interest Period of one monthLoans. If the Company requests a Borrowing of, conversion to, or continuation of Eurodollar Rate Loans in any such Loan Notice, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one month. Any automatic continuation of a Eurodollar Rate Loan shall be effective as of the last day of the Interest Period then in effect with respect to such Eurodollar Rate Loan.

Appears in 1 contract

Samples: Intercreditor and Collateral Agency Agreement (Granite Construction Inc)

Borrowings, Conversions and Continuations of Revolving Credit Loans. (a) Each Term Loan Borrowing, each Revolving Credit Borrowing, each conversion of Term Loans or Revolving Credit Loans denominated in Dollars from one Type Eurocurrency Loans to the otherBase Rate Loans (or from Base Rate Loans to Eurocurrency Loans), and each continuation of Eurodollar Eurocurrency Rate Loans shall be made upon the CompanyBorrower’s irrevocable notice to the Administrative Agent, which may be given by (A) telephone, or (B) a Committed Loan Notice; provided that any telephone telephonic notice must be confirmed promptly by delivery to the Administrative Agent of a Committed Loan Notice. Each such notice Committed Loan Notice must be received by the Administrative Agent not later than 9:00 a.m. (i) 11:00 a.m., Local Time, three (3) Business Days prior to the requested date of any Borrowing of, conversion to or continuation of Eurodollar Eurocurrency Rate Loans or of any conversion of Eurodollar Eurocurrency Rate Loans to Base Rate Loans, Loans and (ii) 11:00 a.m., New York City time, on the requested date of any Borrowing of Base Rate Loans; provided, however, that if the Company Borrower wishes to request Eurodollar Eurocurrency Rate Loans having an Interest Period other than one, two, three or of six months in duration as provided in the definition of “Interest Period,” the applicable notice must be received by the Administrative Agent not later than 9:00 a.m. 11:00 a.m., Local Time, four Business Days prior to the requested date of such Borrowing, conversion or continuation, whereupon the Administrative Agent shall give prompt notice to the Appropriate Lenders of such request and determine whether the requested Interest Period is acceptable to all of them. Not later than 10:00 a.m., three Business Days before the requested date of such Borrowing, conversion or continuation, the Administrative Agent shall notify the Company (which notice may be by telephone) whether or not the requested Interest Period has been consented to by all the Lenders. Each Borrowing of, conversion to or continuation of Eurodollar Rate Loans shall be in a principal amount of $3,000,000 or a whole multiple of $1,000,000 in excess thereof. Except as provided in Sections 2.03(c) and 2.04(c), each Borrowing of or conversion to Base Rate Loans shall be in a principal amount of $1,000,000 or a whole multiple of $500,000 in excess thereof. Each Loan Notice (whether telephonic or written) shall specify (i) whether the Company is requesting a Term Borrowing, a Revolving Credit Borrowing, a conversion of Term Loans or Revolving Credit Loans from one Type to the other, or a continuation of Eurodollar Rate Loans, (ii) the requested date of the Borrowing, conversion or continuation, as the case may be (which shall be a Business Day), (iii) the principal amount of Loans to be borrowed, converted or continued, (iv) the Type of Loans to be borrowed or to which existing Loans are to be converted, (v) if applicable, the duration of the Interest Period with respect thereto and (vi) the Borrower for which such Borrowing is requested. If the Company fails to specify a Type of Loan in a Loan Notice, then the applicable Loans shall be made as Base Rate Loans. Notwithstanding the foregoing, with respect to any Eurodollar Rate Loan made hereunder, if the Company fails to specify a Type of Loan in the Loan Notice relating to such outstanding Eurodollar Rate Loan or fails to deliver a Loan Notice requesting continuation or conversion of such outstanding Eurodollar Rate Loan, then such Eurodollar Rate Loan shall be continued as a Eurodollar Rate Loan with an Interest Period of one month. If the Company requests a Borrowing of, conversion to, or continuation of Eurodollar Rate Loans in any such Loan Notice, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one month. Any automatic continuation of a Eurodollar Rate Loan shall be effective as of the last day of the Interest Period then in effect with respect to such Eurodollar Rate Loan.11:00

Appears in 1 contract

Samples: Credit Agreement (Starwood Property Trust, Inc.)

Borrowings, Conversions and Continuations of Revolving Credit Loans. (a) Each Term Borrowing, each Revolving Credit Borrowing, Committed Borrowing shall be made upon the Borrower Representative’s irrevocable notice to the Administrative Agent via a Borrowing Request Notice and each conversion of Term Loans or Revolving Credit Loans from one Type to the other, other and each continuation of Eurodollar Rate Loans shall be made upon the CompanyBorrower Representative’s irrevocable notice to the Administrative AgentAgent via a Notice of Conversion/Continuation, in each case, appropriately completed and signed by a member of Senior Management of the Borrower Representative, which may be given by (A) telephone, or (B) a Loan Notice; provided that any telephone notice must be confirmed promptly by delivery to the Administrative Agent of a Loan NoticeElectronic Medium. Each such notice must be received by the Administrative Agent not later than 9:00 a.m. 1:00 p.m. Eastern time (10:00 am Pacific time) (i) on the Business Day that is the requested date of any Committed Borrowing in the case of Base Rate Loans (including Swing Line Loans) (each a “Same Day Request”) and (ii) at least three (3) Business Days prior to the requested date of any Committed Borrowing of, conversion to or continuation of Eurodollar Rate Loans or of any conversion of Eurodollar Rate Loans to Base Rate Loans, and (ii) on the requested date of any Borrowing of Base Rate Loans; provided, however, that if the Company wishes to request Eurodollar Rate Loans having an Interest Period other than one, two, three or six months in duration as provided in the definition of “Interest Period,” the applicable notice must be received by the Administrative Agent not later than 9:00 a.m. four Business Days prior to the requested date of such Borrowing, conversion or continuation, whereupon the Administrative Agent shall give prompt notice to the Lenders of such request and determine whether the requested Interest Period is acceptable to all of them. Not later than 10:00 a.m., three Business Days before the requested date of such Borrowing, conversion or continuation, the Administrative Agent shall notify the Company (which notice may be by telephone) whether or not the requested Interest Period has been consented to by all the Lenders. Each Borrowing of, conversion to or continuation of Eurodollar Rate Loans shall be in a principal amount of $3,000,000 or a whole multiple of $1,000,000 on any day in excess thereof. Except as provided in Sections 2.03(c) and 2.04(c), each Borrowing of or conversion to Base Rate Loans the Daily Cash Sweep Repayment Amount for such day shall be in a principal amount of $1,000,000 or a whole multiple of $500,000 in excess thereof. Each Loan Borrowing Request Notice (whether telephonic or written) and Notice of Conversion/Continuation shall specify (i) whether the Company is Borrower requesting a Term such Committed Borrowing, a Revolving Credit Borrowing, a conversion of Term Loans or Revolving Credit Loans from one Type to the other, or a continuation of Eurodollar Rate Loanscontinuation, (ii) the requested date of the Committed Borrowing, conversion or continuation, as the case may be continuation (which shall be a Business Day), (iii) the principal amount of Loans to be borrowed, converted or continued, (iv) the Type of Loans to be borrowed or to which existing Loans are to be converted, converted and (v) if applicable, the duration of the Interest Period with respect thereto and (vi) the Borrower for which such Borrowing is requestedthereto. If the Company Borrower Representative fails to specify a Type of Loan in a Loan NoticeBorrowing Request Notice or if the Borrower Representative fails to give a timely notice requesting a conversion or continuation, then the applicable Loans shall be made as as, or converted to, Base Rate Loans. Notwithstanding Any such automatic conversion to Base Rate Loans shall be effective on the foregoing, last day of the Interest Period then in effect with respect to any the applicable Eurodollar Rate Loan made hereunder, if the Company fails to specify a Type of Loan in the Loan Notice relating to such outstanding Eurodollar Rate Loan or fails to deliver a Loan Notice requesting continuation or conversion of such outstanding Eurodollar Rate Loan, then such Eurodollar Rate Loan shall be continued as a Eurodollar Rate Loan with an Interest Period of one monthLoans. If the Company Borrower Representative requests a Borrowing of, conversion to, or continuation of Eurodollar Rate Loans in any such Loan Noticenotice, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one month. Any automatic continuation of a Eurodollar Rate Loan shall be effective as of Unless otherwise agreed by the last day of Administrative Agent, the Interest Period then in effect with respect to such Eurodollar Rate LoanBorrower Representative may not request more than one (1) Same Day Request on any Business Day.

Appears in 1 contract

Samples: Credit Agreement (American Apparel, Inc)

Borrowings, Conversions and Continuations of Revolving Credit Loans. (a) Each Term Borrowing, each Revolving Credit Borrowing, each conversion of Term Loans or Revolving Credit Loans from one Type to the other, and each continuation of Eurodollar Rate Loans shall be made upon the CompanyBorrower’s irrevocable notice (which notice may, subject to Section 3.05 hereof, be revoked by the Borrower) to the Administrative Agent, which may be given by (A) telephone, or (B) a Loan Notice; provided that any telephone notice must be confirmed promptly by delivery to the Administrative Agent of a Loan Notice. Each such notice must be received by the Administrative Agent not later than 9:00 11:00 a.m. (i) three Business Days prior to the requested date of any Revolving Credit Borrowing of, conversion to or continuation of Eurodollar Rate Loans or of any conversion of Eurodollar Rate Loans to Base Rate Loans, and (ii) on the requested date of any Revolving Credit Borrowing of Base Rate Loans; provided, however, that if . Each telephonic notice by the Company wishes Borrower pursuant to request Eurodollar Rate Loans having an Interest Period other than one, two, three or six months in duration as provided in the definition of “Interest Period,” the applicable notice this Section 2.02(a) must be received confirmed promptly by delivery to the Administrative Agent not later than 9:00 a.m. four Business Days prior to of a written Committed Loan Notice, appropriately completed and signed by a Responsible Officer of the requested date of such Borrowing, conversion or continuation, whereupon the Administrative Agent shall give prompt notice to the Lenders of such request and determine whether the requested Interest Period is acceptable to all of them. Not later than 10:00 a.m., three Business Days before the requested date of such Borrowing, conversion or continuation, the Administrative Agent shall notify the Company (which notice may be by telephone) whether or not the requested Interest Period has been consented to by all the LendersBorrower. Each Revolving Credit Borrowing of, conversion to or continuation of Eurodollar Rate Loans shall be in a principal amount of $3,000,000 1,000,000 or a whole multiple of $1,000,000 in excess thereof. Except as provided in Sections Section 2.03(c) and 2.04(c), each Revolving Credit Borrowing of or conversion to Base Rate Loans shall be in a principal amount of $1,000,000 500,000 or a whole multiple of $500,000 100,000 in excess thereof. Each Committed Loan Notice (whether telephonic or written) shall specify (i) whether the Company Borrower is requesting a Term Borrowing, a Revolving Credit Borrowing, a conversion of Term Loans or Revolving Credit Loans from one Type to the other, or a continuation of Eurodollar Rate Loans, (ii) the requested date of the Revolving Credit Borrowing, conversion or continuation, as the case may be (which shall be a Business Day), (iii) the principal amount of Revolving Credit Loans to be borrowed, converted or continued, (iv) the Type of Revolving Credit Loans to be borrowed or to which existing Revolving Credit Loans are to be converted, and (v) if applicable, the duration of the Interest Period with respect thereto and (vi) the Borrower for which such Borrowing is requestedthereto. If the Company Borrower fails to specify a Type of Revolving Credit Loan in a Committed Loan NoticeNotice or if the Borrower fails to give a timely notice requesting a conversion or continuation, then the applicable Revolving Credit Loans shall be made as as, or converted to, Base Rate Loans. Notwithstanding Any such automatic conversion to Base Rate Loans shall be effective as of the foregoing, last day of the Interest Period then in effect with respect to any the applicable Eurodollar Rate Loan made hereunder, if the Company fails to specify a Type of Loan in the Loan Notice relating to such outstanding Eurodollar Rate Loan or fails to deliver a Loan Notice requesting continuation or conversion of such outstanding Eurodollar Rate Loan, then such Eurodollar Rate Loan shall be continued as a Eurodollar Rate Loan with an Interest Period of one monthLoans. If the Company Borrower requests a Revolving Credit Borrowing of, conversion to, or continuation of Eurodollar Rate Loans in any such Committed Loan Notice, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one month. Any automatic continuation of a Eurodollar Rate Loan shall be effective as of the last day of the Interest Period then in effect with respect to such Eurodollar Rate Loan.

Appears in 1 contract

Samples: Credit Agreement (NRG Yield, Inc.)

Borrowings, Conversions and Continuations of Revolving Credit Loans. (a) Each Term Revolving Credit Borrowing, each Revolving Credit the Term Loan Borrowing, each conversion of Term Loans or Revolving Credit Loans from one Type to the other, and each continuation of Eurodollar Term SOFR Loans or Alternative Currency Term Rate Loans shall be made upon the Company’s irrevocable notice to the Administrative Agent, which may be given by (A) telephone, or (B) a Loan Notice; provided that any telephone notice must be confirmed promptly by delivery to the Administrative Agent of a Loan Notice. Each such notice must be received by the Administrative Agent not later than 9:00 10:00 a.m. (i) three two Business Days prior to the requested date of any Borrowing of, conversion to or continuation of Eurodollar Rate Term SOFR Loans or of any conversion of Eurodollar Rate Term SOFR Loans to Base Rate Loans, (ii) four Business Days (or five Business Days in the case of a Special Notice Currency) prior to the requested date of any Borrowing of, conversion to or continuation of any Alternative Currency Loans, and (iiiii) on the requested date of any Borrowing of Base Rate Loans; provided, however, that if . Each telephonic notice by the Company wishes pursuant to request Eurodollar Rate Loans having an Interest Period other than one, two, three or six months in duration as provided in the definition of “Interest Period,” the applicable notice this Section 2.02(a) must be received confirmed promptly by delivery to the Administrative Agent not later than 9:00 a.m. four Business Days prior to of a written Loan Notice, appropriately completed and signed by a Responsible Officer of the requested date of such Borrowing, conversion or continuation, whereupon the Administrative Agent shall give prompt notice to the Lenders of such request and determine whether the requested Interest Period is acceptable to all of them. Not later than 10:00 a.m., three Business Days before the requested date of such Borrowing, conversion or continuation, the Administrative Agent shall notify the Company (which notice may be by telephone) whether or not the requested Interest Period has been consented to by all the LendersCompany. Each Borrowing of, conversion to or continuation of Eurodollar Term SOFR Loans or Alternative Currency Term Rate Loans shall be in a principal amount of the Dollar Equivalent of $3,000,000 1,000,000 or a whole multiple of the Dollar Equivalent of $1,000,000 in excess thereof. Except as provided in Sections 2.03(c) and 2.04(c), each Borrowing of or conversion to Base Rate Loans shall be in a principal amount of the Dollar Equivalent of $1,000,000 500,000 or a whole multiple of the Dollar Equivalent of $500,000 100,000 in excess thereof. Each Loan Notice (whether telephonic or written) shall specify (i) whether the Company is requesting a Term Loan Borrowing, a Revolving Credit Borrowing, a conversion of Term Loans or Revolving Credit Loans from one Type to the other, or a continuation of Eurodollar Term SOFR Loans or Alternative Currency Term Rate Loans, (ii) the requested date of the Borrowing, conversion or continuation, as the case may be (which shall be a Business Day), (iii) the principal amount of Loans to be borrowed, converted or continued, (iv) the Type of Loans to be borrowed or to which existing Term Loans or Revolving Credit Loans are to be converted, (v) if applicable, the duration of the Interest Period with respect thereto and thereto, (vi) the Borrower for which such Borrowing is requestedcurrency of the Revolving Credit Loans to be borrowed, and (vii) if applicable, the Designated Borrower. If the Company fails to specify a currency in a Loan Notice requesting a Borrowing, then the Revolving Credit Loans so requested shall be made in Dollars. If the Company fails to specify a Type of Loan in a Loan Notice, then the applicable Loans shall be made as Base Rate Loans. Notwithstanding the foregoing, with respect to any Eurodollar Rate Loan made hereunder, Notice or if the Company fails to specify give a Type of Loan timely notice requesting a conversion or continuation, then the applicable Term Loans or Revolving Credit Loans shall be made as, or converted to, Base Rate Loans; provided, however, that in the Loan Notice relating case of a failure to timely request a continuation of Alternative Currency Term Rate Loans, such outstanding Eurodollar Rate Loan or fails to deliver a Loan Notice requesting continuation or conversion of such outstanding Eurodollar Rate Loan, then such Eurodollar Rate Loan Loans shall be continued as a Eurodollar Alternative Currency Term Rate Loan Loans in their original currency with an Interest Period of one month. Any such automatic conversion to Base Rate Loans shall be effective as of the last day of the Interest Period then in effect with respect to the applicable Term SOFR Loans. If the Company requests a Borrowing of, conversion to, or continuation of Eurodollar Alternative Currency Term Rate Loans or Term SOFR Loans in any such Loan Notice, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one month. Any automatic continuation No Revolving Credit Loan may be converted into or continued as a Revolving Credit Loan denominated in a different currency, but instead must be prepaid in the original currency of a Eurodollar Rate such Revolving Credit Loan shall be effective as of and reborrowed in the last day of the Interest Period then in effect with respect to such Eurodollar Rate Loanother currency.

Appears in 1 contract

Samples: Credit Agreement (Tetra Tech Inc)

Borrowings, Conversions and Continuations of Revolving Credit Loans. (a) Each Term Revolving Credit Borrowing, each Revolving Credit the Term Loan Borrowing, each conversion of Term Loans or Revolving Credit Loans from one Type to the other, and each continuation of Eurodollar Term SOFR Loans or Alternative Currency Term Rate Loans shall be made upon the Company’s irrevocable notice to the Administrative Agent, which may be given by (A) telephone, or (B) a Loan Notice; provided that any telephone notice must be confirmed promptly by delivery to the Administrative Agent of a Loan Notice. Each such notice must be received by the Administrative Agent not later than 10:00 a.m. (or, in the case of RPS Acquisition Loans borrowed as Base Rate Loans on the RPS Acquisition Closing Date, 9:00 a.m. a.m.) (i) three two Business Days prior to the requested date of any Borrowing of, conversion to or continuation of Eurodollar Rate Term SOFR Loans or of any conversion of Eurodollar Rate Term SOFR Loans to Base Rate Loans, (ii) four Business Days (or five Business Days in the case of a Special Notice Currency) prior to the requested date of any Borrowing of, conversion to or continuation of any Alternative Currency Loans, and (iiiii) on the requested date of any Borrowing of Base Rate Loans; provided, however, that if . Each telephonic notice by the Company wishes pursuant to request Eurodollar Rate Loans having an Interest Period other than one, two, three or six months in duration as provided in the definition of “Interest Period,” the applicable notice this Section 2.02(a) must be received confirmed promptly by delivery to the Administrative Agent not later than 9:00 a.m. four Business Days prior to of a written Loan Notice, appropriately completed and signed by a Responsible Officer of the requested date of such Borrowing, conversion or continuation, whereupon the Administrative Agent shall give prompt notice to the Lenders of such request and determine whether the requested Interest Period is acceptable to all of them. Not later than 10:00 a.m., three Business Days before the requested date of such Borrowing, conversion or continuation, the Administrative Agent shall notify the Company (which notice may be by telephone) whether or not the requested Interest Period has been consented to by all the LendersCompany. Each Borrowing of, conversion to or continuation of Eurodollar Term SOFR Loans or Alternative Currency Term Rate Loans shall be in a principal amount of the Dollar Equivalent of $3,000,000 1,000,000 or a whole multiple of the Dollar Equivalent of $1,000,000 in excess thereof. Except as provided in Sections 2.03(c) and 2.04(c), each Borrowing of or conversion to Base Rate Loans shall be in a principal amount of the Dollar Equivalent of $1,000,000 500,000 or a whole multiple of the Dollar Equivalent of $500,000 100,000 in excess thereof. Each Loan Notice (whether telephonic or written) shall specify (i) whether the Company is requesting a Term Loan Borrowing, a Revolving Credit Borrowing, a conversion of Term Loans or Revolving Credit Loans from one Type to the other, or a continuation of Eurodollar Term SOFR Loans or Alternative Currency Term Rate Loans, (ii) the requested date of the BorrowingBorrowing (which in the case of a Borrowing of (x) RPS Acquisition Term Loans, shall be the RPS Acquisition Closing Date and (y) RPS Acquisition Revolving Loans, shall be during the RPS Availability Period (including, for the avoidance of doubt, the RPS Acquisition Closing Date)), conversion or continuation, as the case may be (which shall be a Business Day), (iii) the principal amount of Loans to be borrowedborrowed (and whether such Loans constitute RPS Acquisition Loans), converted or continued, (iv) the Type of Loans to be borrowed or to which existing Term Loans or Revolving Credit Loans are to be converted, (v) if applicable, the duration of the Interest Period with respect thereto and thereto, (vi) the Borrower for which such Borrowing is requestedcurrency of the Revolving Credit Loans to be borrowed, and (vii) if applicable, the Designated Borrower. If the Company fails to specify a currency in a Loan Notice requesting a Borrowing, then the Revolving Credit Loans so requested shall be made in Dollars. If the Company fails to specify a Type of Loan in a Loan Notice, then the applicable Loans shall be made as Base Rate Loans. Notwithstanding the foregoing, with respect to any Eurodollar Rate Loan made hereunder, Notice or if the Company fails to specify give a Type of Loan timely notice requesting a conversion or continuation, then the applicable Term Loans or Revolving Credit Loans shall be made as, or converted to, Base Rate Loans; provided, however, that in the Loan Notice relating case of a failure to timely request a continuation of Alternative Currency Term Rate Loans, such outstanding Eurodollar Rate Loan or fails to deliver a Loan Notice requesting continuation or conversion of such outstanding Eurodollar Rate Loan, then such Eurodollar Rate Loan Loans shall be continued as a Eurodollar Alternative Currency Term Rate Loan Loans in their original currency with an Interest Period of one month. Any such automatic conversion to Base Rate Loans shall be effective as of the last day of the Interest Period then in effect with respect to the applicable Term SOFR Loans. If the Company requests a Borrowing of, conversion to, or continuation of Eurodollar Alternative Currency Term Rate Loans or Term SOFR Loans in any such Loan Notice, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one month. Any automatic continuation No Revolving Credit Loan may be converted into or continued as a Revolving Credit Loan denominated in a different currency, but instead must be prepaid in the original currency of a Eurodollar Rate such Revolving Credit Loan shall be effective as of and reborrowed in the last day of the Interest Period then in effect with respect to such Eurodollar Rate Loanother currency.

Appears in 1 contract

Samples: Credit Agreement (Tetra Tech Inc)

Borrowings, Conversions and Continuations of Revolving Credit Loans. (a) Each Term Borrowing, each Revolving Credit Borrowing, each conversion of Term Loans or Revolving Credit Loans from one Type to the other, and each continuation of Eurodollar Eurocurrency Rate Loans shall be made upon the CompanyBorrower’s irrevocable notice to the Administrative Agent, which may be given by (A) telephone, or (B) a Loan Notice; provided that any telephone notice must be confirmed promptly by delivery to the Administrative Agent of a Loan Notice. Each such notice must be received by the Administrative Agent not later than 9:00 11:00 a.m. (i) three Business Days prior to the requested date of any Borrowing of, conversion to or continuation of Eurodollar Eurocurrency Rate Loans denominated in Dollars or of any conversion of Eurodollar Eurocurrency Rate Loans denominated in Dollars to Base Rate Loans, (ii) four Business Days (or five Business Days in the case of a Special Notice Currency) prior to the requested date of any Borrowing or continuation of Eurocurrency Rate Loans denominated in Alternative Currencies, and (iiiii) on the requested date of any Borrowing of Base Rate Loans; provided, however, that if . Each telephonic notice by the Company wishes Borrower pursuant to request Eurodollar Rate Loans having an Interest Period other than one, two, three or six months in duration as provided in the definition of “Interest Period,” the applicable notice this Section 2.02(a) must be received confirmed promptly by delivery to the Administrative Agent not later than 9:00 a.m. four Business Days prior to of a written Revolving Credit Loan Notice, appropriately completed and signed by a Responsible Officer of the requested date of such Borrowing, conversion or continuation, whereupon the Administrative Agent shall give prompt notice to the Lenders of such request and determine whether the requested Interest Period is acceptable to all of them. Not later than 10:00 a.m., three Business Days before the requested date of such Borrowing, conversion or continuation, the Administrative Agent shall notify the Company (which notice may be by telephone) whether or not the requested Interest Period has been consented to by all the LendersBorrower. Each Borrowing of, conversion to or continuation of Eurodollar Eurocurrency Rate Loans shall be in a principal amount of $3,000,000 5,000,000 or a whole multiple of $1,000,000 in excess thereof. Except as provided in Sections 2.03(c) and 2.04(c), each Revolving Credit Borrowing of or conversion to Base Rate Loans shall be in a principal amount of $1,000,000 500,000 or a whole multiple of $500,000 100,000 in excess thereof. Each Revolving Credit Loan Notice (whether telephonic or written) shall specify (i) whether the Company Borrower is requesting a Term Borrowing, a Revolving Credit Borrowing, a conversion of Term Loans or Revolving Credit Loans from one Type to the other, or a continuation of Eurodollar Eurocurrency Rate Loans, (ii) the requested date of the Borrowing, conversion or continuation, as the case may be (which shall be a Business Day), (iii) the principal amount of Revolving Credit Loans to be borrowed, converted or continued, (iv) the Type of Revolving Credit Loans to be borrowed or to which existing Revolving Credit Loans are to be converted, (v) if applicable, the duration of the Interest Period with respect thereto thereto, and (vi) the Borrower for which such Borrowing is requestedcurrency of the Revolving Credit Loans to be borrowed. If the Company Borrower fails to specify a currency in a Revolving Credit Loan Notice requesting a Borrowing, then the Revolving Credit Loans so requested shall be made in Dollars. If the Borrower fails to specify a Type of Revolving Credit Loan in a Revolving Credit Loan NoticeNotice or if the Borrower fails to give a timely notice requesting a conversion or continuation, then the applicable Revolving Credit Loans shall be made as as, or converted to, Base Rate Loans. Notwithstanding the foregoing; provided, with respect to any Eurodollar Rate Loan made hereunderhowever, if the Company fails to specify a Type of Loan that in the Loan Notice relating case of a failure to timely request a continuation of Revolving Credit Loans denominated in an Alternative Currency, such outstanding Eurodollar Rate Loan or fails to deliver a Loan Notice requesting continuation or conversion of such outstanding Eurodollar Rate Loan, then such Eurodollar Rate Loan Loans shall be continued as a Eurodollar Eurocurrency Rate Loan Loans in their original currency with an Interest Period of one month. Any automatic conversion to Base Rate Loans shall be effective as of the last day of the Interest Period then in effect with respect to the applicable Eurocurrency Rate Loans. If the Company Borrower requests a Borrowing of, conversion to, or continuation of Eurodollar Eurocurrency Rate Loans in any such Revolving Credit Loan Notice, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one month. Any automatic continuation No Revolving Credit Loan may be converted into or continued as a Revolving Credit Loan denominated in a different currency, but instead must be prepaid in the original currency of a Eurodollar Rate such Revolving Credit Loan shall be effective as of and reborrowed in the last day of the Interest Period then in effect with respect to such Eurodollar Rate Loanother currency.

Appears in 1 contract

Samples: Credit Agreement (Commercial Metals Co)

Borrowings, Conversions and Continuations of Revolving Credit Loans. (a) Each Term Revolving Credit Borrowing, each Revolving Credit the Term Loan Borrowing, each conversion of Term Loans or Revolving Credit Loans from one Type to the other, and each continuation of Eurodollar Eurocurrency Rate Loans shall be made upon the Company’s irrevocable notice to the Administrative Agent, which may be given by (A) telephone, or (B) a Loan Notice; provided that any telephone notice must be confirmed promptly by delivery to the Administrative Agent of a Loan Notice. Each such notice must be received by the Administrative Agent not later than 9:00 10:00 a.m. (i) three Business Days prior to the requested date of any Borrowing of, conversion to or continuation of Eurodollar Eurocurrency Rate Loans denominated in Dollars or of any conversion of Eurodollar Eurocurrency Rate Loans denominated in Dollars to Base Rate Loans, (ii) four Business Days (or five Business Days in the case of a Special Notice Currency) prior to the requested date of any Borrowing or continuation of Eurocurrency Rate Loans denominated in Alternative Currencies, and (iiiii) on the requested date of any Borrowing of Base Rate Loans; provided, however, that if . Each telephonic notice by the Company wishes pursuant to request Eurodollar Rate Loans having an Interest Period other than one, two, three or six months in duration as provided in the definition of “Interest Period,” the applicable notice this Section 2.02(a) must be received confirmed promptly by delivery to the Administrative Agent not later than 9:00 a.m. four Business Days prior to of a written Loan Notice, appropriately completed and signed by a Responsible Officer of the requested date of such Borrowing, conversion or continuation, whereupon the Administrative Agent shall give prompt notice to the Lenders of such request and determine whether the requested Interest Period is acceptable to all of them. Not later than 10:00 a.m., three Business Days before the requested date of such Borrowing, conversion or continuation, the Administrative Agent shall notify the Company (which notice may be by telephone) whether or not the requested Interest Period has been consented to by all the LendersCompany. Each Borrowing of, conversion to or continuation of Eurodollar Eurocurrency Rate Loans shall be in a principal amount of $3,000,000 1,000,000 or a whole multiple of $1,000,000 in excess thereof. Except as provided in Sections 2.03(c) and 2.04(c), each Borrowing of or conversion to Base Rate Loans shall be in a principal amount of $1,000,000 500,000 or a whole multiple of $500,000 100,000 in excess thereof. Each Loan Notice (whether telephonic or written) shall specify (i) whether the Company is requesting a Term Loan Borrowing, a Revolving Credit Borrowing, a conversion of Term Loans or Revolving Credit Loans from one Type to the other, or a continuation of Eurodollar Eurocurrency Rate Loans, (ii) the requested date of the Borrowing, conversion or continuation, as the case may be (which shall be a Business Day), (iii) the principal amount of Loans to be borrowed, converted or continued, (iv) the Type of Loans to be borrowed or to which existing Term Loans or Revolving Credit Loans are to be converted, (v) if applicable, the duration of the Interest Period with respect thereto and thereto, (vi) the Borrower for which such Borrowing is requestedcurrency of the Revolving Credit Loans to be borrowed, and (vii) if applicable, the Designated Borrower. If the Company fails to specify a currency in a Loan Notice requesting a Borrowing, then the Revolving Credit Loans so requested shall be made in Dollars. If the Company fails to specify a Type of Loan in a Loan Notice, then the applicable Loans shall be made as Base Rate Loans. Notwithstanding the foregoing, with respect to any Eurodollar Rate Loan made hereunder, Notice or if the Company fails to specify give a Type of Loan timely notice requesting a conversion or continuation, then the applicable Term Loans or Revolving Credit Loans shall be made as, or converted to, Base Rate Loans; provided, however, that in the Loan Notice relating case of a failure to timely request a continuation of Revolving Credit Loans denominated in an Alternative Currency, such outstanding Eurodollar Rate Loan or fails to deliver a Loan Notice requesting continuation or conversion of such outstanding Eurodollar Rate Loan, then such Eurodollar Rate Loan Loans shall be continued as a Eurodollar Eurocurrency Rate Loan Loans in their original currency with an Interest Period of one month. Any automatic conversion to Base Rate Loans shall be effective as of the last day of the Interest Period then in effect with respect to the applicable Eurocurrency Rate Loans. If the Company requests a Borrowing of, conversion to, or continuation of Eurodollar Eurocurrency Rate Loans in any such Loan Notice, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one month. Any automatic continuation No Revolving Credit Loan may be converted into or continued as a Revolving Credit Loan denominated in a different currency, but instead must be prepaid in the original currency of a Eurodollar Rate such Revolving Credit Loan shall be effective as of and reborrowed in the last day of the Interest Period then in effect with respect to such Eurodollar Rate Loanother currency.

Appears in 1 contract

Samples: Credit Agreement (Tetra Tech Inc)

Borrowings, Conversions and Continuations of Revolving Credit Loans. (a) Each Term Borrowing, each Revolving Credit Borrowing, each conversion of Term Loans or Revolving Credit Loans from one Type to the other, and each continuation of Eurodollar Rate LIBOR Loans shall be made upon the CompanyBorrower’s irrevocable notice to the Administrative Agent, which may be given by (A) telephone, or (B) a Loan Notice; provided that any telephone notice must be confirmed promptly by delivery to the Administrative Agent of a Loan Notice. Each such notice must be received by the Administrative Agent not later than 9:00 11:00 a.m. (i) three (3) Business Days prior to the requested date of any Revolving Credit Borrowing of, conversion to or continuation of Eurodollar Rate LIBOR Loans or of any conversion of Eurodollar Rate LIBOR Loans to Base Rate Loans, and (ii) on the requested date of any Revolving Credit Borrowing of Base Rate Loans; provided, however, that if . Each telephonic notice by the Company wishes Borrower pursuant to request Eurodollar Rate Loans having an Interest Period other than one, two, three or six months in duration as provided in the definition of “Interest Period,” the applicable notice this Section 2.02(a) must be received confirmed promptly by delivery to the Administrative Agent not later than 9:00 a.m. four Business Days prior to of a written Borrowing Request or Interest Election Request, as applicable, appropriately completed and signed by a Responsible Officer of the requested date of such Borrowing, conversion or continuation, whereupon the Administrative Agent shall give prompt notice to the Lenders of such request and determine whether the requested Interest Period is acceptable to all of them. Not later than 10:00 a.m., three Business Days before the requested date of such Borrowing, conversion or continuation, the Administrative Agent shall notify the Company (which notice may be by telephone) whether or not the requested Interest Period has been consented to by all the LendersBorrower. Each Revolving Credit Borrowing of, of or conversion to or continuation of Eurodollar Rate LIBOR Loans shall be in a principal amount of $3,000,000 1,000,000 or a whole multiple of $1,000,000 in excess thereof. Except as provided in Sections Section 2.03(c) and 2.04(c), each Revolving Credit Borrowing of or conversion to Base Rate Loans shall be in a principal amount of $1,000,000 or a whole multiple of $500,000 1,000,000 in excess thereof. Each Loan Notice Borrowing Request (whether telephonic or written) shall specify (i) the requested date of the Revolving Credit Borrowing (which shall be a Business Day), (ii) the principal amount of Revolving Credit Loans to be borrowed, (iii) the Type of Revolving Credit Loans to be borrowed, (iv) if applicable, the duration of the Interest Period with respect thereto and (v) the account of the Borrower, which shall be a Proceeds Account, into which the funds are requested to be deposited. Each Interest Election Request (whether telephonic or written) shall specify (i) whether the Company Borrower is requesting a Term Borrowing, a Revolving Credit Borrowing, a conversion of Term Loans or Revolving Credit Loans from one Type to the other, other or a continuation of Eurodollar Rate LIBOR Loans, (ii) the requested date of the Borrowing, conversion or continuation, as the case may be (which shall be a Business Day), (iii) the principal amount of Revolving Credit Loans to be borrowed, converted or continued, (iv) if applicable, the Type of Revolving Credit Loans to be borrowed or to which existing Revolving Credit Loans are to be converted, converted and (v) if applicable, the duration of the Interest Period with respect thereto and (vi) the Borrower for which such Borrowing is requestedthereto. If the Company Borrower fails to specify a Type of Revolving Credit Loan in a Loan NoticeBorrowing Request or Interest Election Request requesting a conversion, as the case may be, or if the Borrower fails to give a timely notice requesting a conversion or continuation, then the applicable Revolving Credit Loans shall be made as as, or converted to, Base Rate Loans. Notwithstanding Any such automatic conversion to Base Rate Loans shall be effective as of the foregoing, last day of the Interest Period then in effect with respect to any Eurodollar Rate Loan made hereunder, if the Company fails to specify a Type of Loan in the Loan Notice relating to such outstanding Eurodollar Rate Loan or fails to deliver a Loan Notice requesting continuation or conversion of such outstanding Eurodollar Rate Loan, then such Eurodollar Rate Loan shall be continued as a Eurodollar Rate Loan with an Interest Period of one monthapplicable LIBOR Loans. If the Company Borrower requests a Revolving Credit Borrowing of, conversion to, or continuation of Eurodollar Rate LIBOR Loans in any such Loan NoticeBorrowing Request or Interest Election Request, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one (1) month. Any automatic continuation of a Eurodollar Rate Loan shall be effective as of the last day of the Interest Period then in effect with respect to such Eurodollar Rate Loan.

Appears in 1 contract

Samples: Credit Agreement (Revett Minerals Inc.)

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Borrowings, Conversions and Continuations of Revolving Credit Loans. (a) Each Term Revolving Credit Borrowing, each Revolving Credit the Term Loan Borrowing, each conversion of Term Loans or Revolving Credit Loans from one Type to the other, and each continuation of Eurodollar Eurocurrency Rate Loans shall be made upon the Company’s irrevocable notice to the Administrative Agent, which may be given by (A) telephone, or (B) a Loan Notice; provided that any telephone notice must be confirmed promptly by delivery to the Administrative Agent of a Loan Notice. Each such notice must be received by the Administrative Agent not later than 9:00 10:00 a.m. (i) three Business Days prior to the requested date of any Borrowing of, conversion to or continuation of Eurodollar Eurocurrency Rate Loans denominated in Dollars or of any conversion of Eurodollar Eurocurrency Rate Loans denominated in Dollars to Base Rate Loans, (ii) four Business Days (or five Business Days in the case of a Special Notice Currency) prior to the requested date of any Borrowing or continuation of Eurocurrency Rate Loans denominated in Alternative Currencies, and (iiiii) on the requested date of any Borrowing of Base Rate Loans; provided, however, that if . Each telephonic notice by the Company wishes pursuant to request Eurodollar Rate Loans having an Interest Period other than one, two, three or six months in duration as provided in the definition of “Interest Period,” the applicable notice this Section 2.02(a) must be received confirmed promptly by delivery to the Administrative Agent not later than 9:00 a.m. four Business Days prior to of a written Loan Notice, appropriately completed and signed by a Responsible Officer of the requested date of such Borrowing, conversion or continuation, whereupon the Administrative Agent shall give prompt notice to the Lenders of such request and determine whether the requested Interest Period is acceptable to all of them. Not later than 10:00 a.m., three Business Days before the requested date of such Borrowing, conversion or continuation, the Administrative Agent shall notify the Company (which notice may be by telephone) whether or not the requested Interest Period has been consented to by all the LendersCompany. Each Borrowing of, conversion to or continuation of Eurodollar Eurocurrency Rate Loans shall be in a principal amount of $3,000,000 1,000,000 or a whole multiple of $1,000,000 in excess thereof. Except as provided in Sections 2.03(c) and 2.04(c), each Borrowing of or conversion to Base Rate Loans shall be in a principal amount of $1,000,000 500,000 or a whole multiple of $500,000 100,000 in excess thereof. Each Loan Notice (whether telephonic or written) shall specify (i) whether the Company is requesting a Term Loan Borrowing, a Revolving Credit Borrowing, a conversion of Term Loans or Revolving Credit Loans from one Type to the other, or a continuation of Eurodollar Eurocurrency Rate Loans, (ii) the requested date of the Borrowing, conversion or continuation, as the case may be (which shall be a Business Day), (iii) the principal amount of Loans to be borrowed, converted or continued, (iv) the Type of Loans to be borrowed or to which existing Term Loans or Revolving Credit Loans are to be converted, (v) if applicable, the duration of the Interest Period with respect thereto and thereto, (vi) the Borrower for which such Borrowing is requestedcurrency of the Revolving Credit Loans to be borrowed, and (vii) if applicable, the Designated Borrower. If the Company fails to specify a currency in a Loan Notice requesting a Borrowing, then the Revolving Credit Loans so requested shall be made in Dollars. If the Company fails to specify a Type of Loan in a Loan Notice, then the applicable Loans shall be made as Base Rate Loans. Notwithstanding the foregoing, with respect to any Eurodollar Rate Loan made hereunder, Notice or if the Company fails to specify give a Type of Loan timely notice requesting a conversion or continuation, then the applicable Term Loans or Revolving Credit Loans shall be made as, or converted to, Base Rate Loans; provided, however, that in the Loan Notice relating case of a failure to timely request a continuation of Revolving Credit Loans denominated in an Alternative Currency, such outstanding Eurodollar Rate Loan or fails to deliver a Loan Notice requesting continuation or conversion of such outstanding Eurodollar Rate Loan, then such Eurodollar Rate Loan Loans shall be continued as a Eurodollar Eurocurrency Rate Loan Loans in their original currency with an Interest Period of one month. Any such automatic conversion to Base Rate Loans shall be effective as of the last day of the Interest Period then in effect with respect to the applicable Eurocurrency Rate Loans. If the Company requests a Borrowing of, conversion to, or continuation of Eurodollar Eurocurrency Rate Loans in any such Loan Notice, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one month. Any automatic continuation No Revolving Credit Loan may be converted into or continued as a Revolving Credit Loan denominated in a different currency, but instead must be prepaid in the original currency of a Eurodollar Rate such Revolving Credit Loan shall be effective as of and reborrowed in the last day of the Interest Period then in effect with respect to such Eurodollar Rate Loanother currency.

Appears in 1 contract

Samples: Credit Agreement (Tetra Tech Inc)

Borrowings, Conversions and Continuations of Revolving Credit Loans. (a) Each Term Borrowing, each Revolving Credit Borrowing, each conversion of Term Loans or Revolving Credit Loans from one Type to the other, and each continuation of Eurodollar Rate Loans shall be made upon the CompanyBorrower’s irrevocable notice to the Administrative Agent, which may be given by (A) telephone, or (B) a Loan Notice; provided that any telephone notice must be confirmed promptly by delivery to the Administrative Agent of a Loan Notice. Each such notice must be received by the Administrative Agent not later than 9:00 11:00 a.m. (i) three Business Days prior to the requested date of any Borrowing of, conversion to or continuation of Eurodollar Rate Loans or of any conversion of Eurodollar Rate Loans to Base Rate Loans, and (ii) on the Business Day prior to the requested date of any Borrowing of Base Rate Loans; provided, however, that if the Company wishes to request Eurodollar Rate Loans having an Interest Period other than one, two, three or six months in duration as provided in the definition of “Interest Period,” the applicable notice must be received by the Administrative Agent not later than 9:00 a.m. four Business Days prior to the requested date of such Borrowing, conversion or continuation, whereupon the Administrative Agent shall give prompt notice to the Lenders of such request and determine whether the requested Interest Period is acceptable to all of them. Not later than 10:00 11:00 a.m., three Business Days before the requested date of such Borrowing, conversion or continuation, the as to Eurodollar Rate Loans, Administrative Agent shall notify the Company Borrower (which notice may be by telephone) whether or not the requested Interest Period has been consented to by all the Lenders. Each telephonic notice by Borrower pursuant to this Section 2.02(a) must be confirmed promptly by delivery to Administrative Agent of a written Loan Notice, appropriately completed and signed by a Responsible Officer of Borrower. Each Borrowing of, conversion to or continuation of Eurodollar Rate Loans shall be in a principal amount of $3,000,000 5,000,000 or a whole multiple of $1,000,000 in excess thereof. Except as provided in Sections Section 2.03(c) and 2.04(c)any Borrowing of the then existing full availability under the Agreement, each Borrowing of or conversion to Base Rate Loans shall be in a principal amount of $1,000,000 5,000,000 or a whole multiple of $500,000 1,000,000 in excess thereof. Each Loan Notice (whether telephonic or written) shall specify (i) whether the Company Borrower is requesting a Term Borrowing, a Revolving Credit Borrowing, a conversion of Term Loans or Revolving Credit Loans from one Type to the other, or a continuation of Eurodollar Rate Loans, (ii) the requested date of the Borrowing, conversion or continuation, as the case may be (which shall be a Business Day), (iii) the principal amount of Loans to be borrowed, converted or continued, (iv) the Type of Loans to be borrowed or to which existing Loans are to be converted, and (v) if applicable, the duration of the Interest Period with respect thereto and (vi) the Borrower for which such Borrowing is requestedthereto. If the Company Borrower fails to specify a Type of Loan in a Loan NoticeNotice or if Borrower fails to give a timely notice requesting a conversion or continuation, then the applicable Revolving Credit Loans shall be made as as, or converted to, Base Rate Loans. Notwithstanding Any such automatic conversion to Base Rate Loans shall be effective as of the foregoing, last day of the Interest Period then in effect with respect to any the applicable Eurodollar Rate Loan made hereunder, if the Company fails to specify a Type of Loan in the Loan Notice relating to such outstanding Eurodollar Rate Loan or fails to deliver a Loan Notice requesting continuation or conversion of such outstanding Eurodollar Rate Loan, then such Eurodollar Rate Loan shall be continued as a Eurodollar Rate Loan with an Interest Period of one monthLoans. If the Company Borrower requests a Borrowing of, conversion to, or continuation of Eurodollar Rate Loans in any such Loan Notice, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one month. Any automatic continuation of a Eurodollar Rate Loan shall be effective as of the last day of the Interest Period then in effect with respect to such Eurodollar Rate Loan.

Appears in 1 contract

Samples: Credit Agreement (Energy Partners LTD)

Borrowings, Conversions and Continuations of Revolving Credit Loans. (a) Each Term Borrowing, each Borrowing of Revolving Credit BorrowingLoans, each conversion of Term Loans or Revolving Credit Loans from one Type to the other, and each continuation of Eurodollar Rate Loans shall be made upon the CompanyBorrower’s irrevocable notice to the Administrative Agent, which may be given by (A) telephone, or (B) a Loan Notice; provided that any telephone notice must be confirmed promptly by delivery to the Administrative Agent of a Loan Notice. Each such notice must be received by the Administrative Agent not later than 9:00 11:00 a.m. (i) three Business Days prior to the requested date of any Borrowing of, conversion to or continuation of Eurodollar Rate Loans or of any conversion of Eurodollar Rate Loans to Base Rate Loans, and (ii) on the requested date of any Borrowing of Base Rate Loans; provided, however, that if . Each telephonic notice by the Company wishes Borrower pursuant to request Eurodollar Rate Loans having an Interest Period other than one, two, three or six months in duration as provided in the definition of “Interest Period,” the applicable notice this Section 2.02(a) must be received confirmed promptly by delivery to the Administrative Agent not later than 9:00 a.m. four Business Days prior to of a written Loan Notice, appropriately completed and signed by a Responsible Officer of the requested date of such Borrowing, conversion or continuation, whereupon the Administrative Agent shall give prompt notice to the Lenders of such request and determine whether the requested Interest Period is acceptable to all of them. Not later than 10:00 a.m., three Business Days before the requested date of such Borrowing, conversion or continuation, the Administrative Agent shall notify the Company (which notice may be by telephone) whether or not the requested Interest Period has been consented to by all the LendersBorrower. Each Borrowing of, conversion to or continuation of Eurodollar Rate Loans shall be in a principal amount of $3,000,000 or a whole multiple of $1,000,000 in excess thereof. Except as provided in Sections 2.03(c) and 2.04(c), each Borrowing of or conversion to Base Rate Loans shall be in a principal amount of $1,000,000 or a whole multiple of $500,000 in excess thereof. Except as provided in Section 2.03(c), each Borrowing of or conversion to Base Rate Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof. Each Loan Notice (whether telephonic or written) shall specify (i) whether the Company Borrower is requesting a Term Borrowing, a Revolving Credit Borrowing, a conversion of Term Loans or Revolving Credit Loans from one Type to the other, or a continuation of Eurodollar Rate Loans, (ii) the requested date of the Borrowing, conversion or continuation, as the case may be (which shall be a Business Day), (iii) the principal amount of Loans to be borrowed, converted or continued, (iv) the Type of Loans to be borrowed or to which existing Revolving Credit Loans are to be converted, and (v) if applicable, the duration of the Interest Period with respect thereto and (vi) the Borrower for which such Borrowing is requestedthereto. If the Company Borrower fails to specify a Type of Loan in a Loan NoticeNotice or if the Borrower fails to give a timely notice requesting a conversion or continuation, then the applicable Loans shall be made as as, or converted to, Base Rate Loans. Notwithstanding Any such automatic conversion to Base Rate Loans shall be effective as of the foregoing, last day of the Interest Period then in effect with respect to any the applicable Eurodollar Rate Loan made hereunder, if the Company fails to specify a Type of Loan in the Loan Notice relating to such outstanding Eurodollar Rate Loan or fails to deliver a Loan Notice requesting continuation or conversion of such outstanding Eurodollar Rate Loan, then such Eurodollar Rate Loan shall be continued as a Eurodollar Rate Loan with an Interest Period of one monthLoans. If the Company Borrower requests a Borrowing of, conversion to, or continuation of Eurodollar Rate Loans in any such Loan Notice, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one month. Any automatic continuation of Notwithstanding anything to the contrary herein, a Eurodollar Rate Swing Line Loan shall may not be effective as of the last day of the Interest Period then in effect with respect converted to such a Eurodollar Rate Loan.

Appears in 1 contract

Samples: Credit Agreement (Holly Corp)

Borrowings, Conversions and Continuations of Revolving Credit Loans. (a) Each Term Borrowing, each Revolving Credit Borrowing, each conversion of Term Loans or Revolving Credit Loans from one Type to the other, and each continuation of Eurodollar Eurocurrency Rate Committed Loans shall be made upon the Company’s irrevocable notice to the Administrative AgentAgent by the Company on behalf of a Borrower, which may be given by (A) telephone, or (B) a Loan Notice; provided that any telephone notice must be confirmed promptly by delivery to the Administrative Agent of a Loan Notice. Each such notice must be received by the Administrative Agent not later than 9:00 11:00 a.m. (i) three Business Days prior to the requested date of any Borrowing of, conversion to or continuation of Eurodollar Eurocurrency Rate Committed Loans denominated in Dollars or of any conversion of Eurodollar Eurocurrency Rate Committed Loans denominated in Dollars to Base Rate Table of Contents Loans, (ii) four Business Days prior to the requested date of any Borrowing or continuation of Eurocurrency Rate Committed Loans denominated in Alternative Currencies, and (iiiii) on one Business Day prior to the requested date of any Borrowing of Base Rate Loans; provided, however, that if . Each telephonic notice by the Company wishes on behalf of a Borrower pursuant to request Eurodollar Rate Loans having an Interest Period other than one, two, three or six months in duration as provided in the definition of “Interest Period,” the applicable notice this Section 2.02(a) must be received confirmed promptly by delivery to the Administrative Agent not later than 9:00 a.m. four Business Days prior to the requested date of such Borrowinga written Loan Notice, conversion or continuation, whereupon the Administrative Agent shall give prompt notice to the Lenders appropriately completed and signed by a Responsible Officer of such request and determine whether the requested Interest Period is acceptable to all of them. Not later than 10:00 a.m., three Business Days before the requested date of such Borrowing, conversion or continuation, the Administrative Agent shall notify the Company (which notice may be by telephone) whether or not on behalf of the requested Interest Period has been consented to by all the Lendersapplicable Borrower. Each Borrowing of, conversion to or continuation of Eurodollar Eurocurrency Rate Committed Loans shall be in a principal amount of $3,000,000 5,000,000 or a whole multiple of $1,000,000 in excess thereof. Except as provided in Sections 2.03(c2.04(c) and 2.04(c2.05(c), each Borrowing of or conversion to Base Rate Loans shall be in a principal amount of $1,000,000 500,000 or a whole multiple of $500,000 100,000 in excess thereof. Each Loan Notice (whether telephonic or written) shall specify (i) whether the Company applicable Borrower is requesting a Term Borrowing, a Revolving Credit Borrowing, a conversion of Term Loans or Revolving Credit Loans from one Type to the other, or a continuation of Eurodollar Eurocurrency Rate Committed Loans, (ii) the requested date of the Borrowing, conversion or continuation, as the case may be (which shall be a Business Day), (iii) the principal amount of Loans to be borrowed, converted or continued, (iv) the Type of Loans to be borrowed or to which existing Revolving Credit Loans are to be converted, (v) if applicable, the duration of the Interest Period with respect thereto and (vi) the Borrower for which such Borrowing is requestedcurrency of the Loans to be borrowed. If the Company fails to specify a currency in a Loan Notice requesting a Revolving Credit Borrowing, then the Loan so requested shall be made in Dollars. If the Company fails to specify a Type of Loan in a Loan Notice, then the applicable Loans shall be made as Base Rate Loans. Notwithstanding the foregoing, with respect to any Eurodollar Rate Loan made hereunder, Notice or if the Company fails to specify give a Type of Loan timely notice requesting a conversion or continuation, then the applicable Revolving Credit Loans shall be made as, or converted to, Base Rate Loans; provided, however, that in the Loan Notice relating case of a failure to timely request a continuation of Loans denominated in an Alternative Currency, such outstanding Eurodollar Rate Loan or fails to deliver a Loan Notice requesting continuation or conversion of such outstanding Eurodollar Rate Loan, then such Eurodollar Rate Loan Loans shall be continued as a Eurodollar Eurocurrency Rate Loan Committed Loans in their original currency with an Interest Period of one month. Any automatic conversion to Base Rate Loans shall be effective as of the last day of the Interest Period then in effect with respect to the applicable Eurocurrency Rate Committed Loans. If the Company on behalf of a Borrower requests a Borrowing of, conversion to, or continuation of Eurodollar Eurocurrency Rate Committed Loans in any such Loan Notice, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one month. Any automatic continuation No Loan may be converted into or continued as a Loan denominated in a different currency, but instead must be prepaid in the original currency of such Loan and reborrowed in the other currency. Notwithstanding anything to the contrary herein, a Eurodollar Rate Swing Line Loan shall may not be effective as of the last day of the Interest Period then in effect with respect converted to such Eurodollar a Eurocurrency Rate Loan.

Appears in 1 contract

Samples: Credit Agreement (W P Carey & Co LLC)

Borrowings, Conversions and Continuations of Revolving Credit Loans. (a) Each Term Borrowing, each Revolving Credit Borrowing, each conversion of Term Loans or Revolving Credit Loans from one Type to the other, and each continuation of Eurodollar Eurocurrency Rate Loans at the end of any Interest Period therefor, shall be made upon the Companyapplicable Borrower’s irrevocable notice to the Administrative Agent, which may be given by (A) telephone, telephone or (B) a Committed Loan Notice; provided that provided, that, any telephone telephonic notice must be confirmed promptly immediately by delivery to the Administrative Agent of a Committed Loan Notice. Each such notice Committed Loan Notice must be received by the Administrative Agent not later than 9:00 11:00 a.m. (i) three (3) Business Days prior to the requested date of any Revolving Credit Borrowing of, conversion to or continuation of Eurodollar Eurocurrency Rate Loans denominated in Dollars or Euros or of any conversion of Eurodollar Eurocurrency Rate Loans denominated in Dollars to Base Rate Loans, (ii) four (4) Business Days (or five (5) Business Days in the case of a Special Notice Currency) prior to the requested date of any Revolving Credit Borrowing or continuation of Eurocurrency Rate Loans denominated in Alternative Currencies (other than Euros), and (iiiii) on the requested date of any Revolving Credit Borrowing of Base Rate Loans; provided, howeverthat, that if the Company applicable Borrower wishes to request Eurodollar Eurocurrency Rate Loans having an Interest Period other than one, two, three or six months in duration as provided in the definition of “Interest Period,” the applicable notice must be received by the Administrative Agent not later than 9:00 11:00 a.m. (A) four (4) Business Days prior to the requested date of such Revolving Credit Borrowing, conversion or continuationcontinuation of Eurocurrency Rate Loans denominated in Dollars or Euros, or (B) five (5) Business Days (or six (6) Business Days in the case of a Special Notice Currency) prior to the requested date of such Revolving Credit Borrowing, conversion or continuation of Eurocurrency Rate Loans denominated in Alternative Currencies (other than Euros), whereupon the Administrative Agent shall give prompt notice to the Appropriate Lenders of such request and determine whether the requested Interest Period is acceptable to all of them. Not later than 10:00 11:00 a.m., (x) three (3) Business Days before the requested date of such Revolving Credit Borrowing, conversion or continuationcontinuation of Eurocurrency Rate Loans denominated in Dollars or Euros, or (y) four (4) Business Days (or five (5) Business Days in the case of a Special Notice Currency) prior to the requested date of such Revolving Credit Borrowing, conversion or continuation of Eurocurrency Rate Loans denominated in Alternative Currencies (other than Euros), the Administrative Agent shall notify the Company (which notice may be by telephone) whether or not the requested Interest Period has been consented to by all the Lenders. Each Revolving Credit Borrowing of, conversion to or continuation of Eurodollar Eurocurrency Rate Loans shall be in a principal amount of the Dollar Equivalent of $3,000,000 1,000,000 or a whole multiple of the Dollar Equivalent of $1,000,000 25,000 in excess thereof. Except as provided in Sections 2.03(c) and 2.04(c), each Revolving Credit Borrowing of or conversion to Base Rate Loans shall be in a principal amount of $1,000,000 100,000 or a whole multiple of $500,000 25,000 in excess thereof. Each Committed Loan Notice (whether telephonic or written) shall specify (i) whether the Company applicable Borrower is requesting a Term Borrowing, a Revolving Credit Borrowing, a conversion of Term Loans or Revolving Credit Loans from one Type to the other, or a continuation of Eurodollar Eurocurrency Rate Loans, (ii) the requested date of the Revolving Credit Borrowing, conversion or continuation, as the case may be (which shall be a Business Day), (iii) the principal amount of Revolving Credit Loans to be borrowed, converted or continued, (iv) the Type of Revolving Credit Loans to be borrowed or to which existing Revolving Credit Loans are to be converted, (v) if applicable, the duration of the Interest Period with respect thereto and (vi) the Borrower for which such Borrowing is requestedcurrency of the Revolving Credit Loans to be borrowed. If a Borrower fails to specify a currency in a Committed Loan Notice requesting a Revolving Credit Borrowing, then the Company Revolving Credit Loans so requested shall be made in Dollars. If a Borrower fails to specify a Type of Revolving Credit Loan in a Committed Loan NoticeNotice or if a Borrower fails to give a timely notice requesting a conversion or continuation, then the applicable Revolving Credit Loans shall be made as as, or converted to, Base Rate Loans. Notwithstanding the foregoing; provided, with respect to any Eurodollar Rate Loan made hereunderthat, if the Company fails to specify a Type of Loan in the Loan Notice relating case of a failure to timely request a continuation of Revolving Credit Loans denominated in an Alternative Currency, such outstanding Eurodollar Rate Loan or fails to deliver a Loan Notice requesting continuation or conversion of such outstanding Eurodollar Rate Loan, then such Eurodollar Rate Loan Revolving Credit Loans shall be continued as a Eurodollar Eurocurrency Rate Loan Loans in their original currency with an Interest Period of one month. Any automatic conversion to Base Rate Loans shall be effective as of the last day of the Interest Period then in effect with respect to the applicable Eurocurrency Rate Loans. If the Company a Borrower requests a Revolving Credit Borrowing of, conversion to, or continuation of Eurodollar Eurocurrency Rate Loans in any such Committed Loan Notice, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one month. Any automatic continuation No Revolving Credit Loan may be converted into or continued as a Revolving Credit Loan denominated in a different currency, but instead must be prepaid in the original currency of such Loan and reborrowed in the other currency. Notwithstanding anything to the contrary herein, a Eurodollar Rate Swing Line Loan shall may not be effective as of the last day of the Interest Period then in effect with respect converted to such Eurodollar a Eurocurrency Rate Loan.

Appears in 1 contract

Samples: Credit Agreement (GENTHERM Inc)

Borrowings, Conversions and Continuations of Revolving Credit Loans. (a) Each Term Borrowing, each Revolving Credit BorrowingLoan, each conversion of Term Loans or Revolving Credit Loans from one Type to the other, other and each continuation of Eurodollar Rate Loans shall be made upon the Company’s Borrowers’ irrevocable notice to the Administrative Agent, which may be given by (A) telephone, or (B) a Loan Notice; provided that any telephone notice must be confirmed promptly by delivery to the Administrative Agent of a Loan Notice. Each such notice must be received by the Administrative Agent not later than 9:00 8:00 a.m. (i) three Business Days prior to the requested date of any Revolving Credit Loan Borrowing ofor, conversion to or continuation of Eurodollar Rate Loans or of any conversion of Eurodollar Rate Loans to Base Rate Loans, Loans and (ii) on the requested date of any Revolving Credit Loan Borrowing of Base Rate Loans; provided. Each telephonic notice by the Borrowers pursuant to this Section 2.02(a) must be confirmed promptly by delivery to the Administrative Agent of a written Revolving Credit Loan Notice, however, appropriately completed and signed by a Responsible Officer of Famous Dave’s (it being hereby acknowledged by each Borrower that if execution of the Company wishes same by such Responsible Officer of Famous Dave’s shall be deemed to request Eurodollar Rate Loans having an Interest Period other than one, two, three or six months in duration constitute execution of the same by a Responsible Officer of each Borrower). Except as provided in the definition of “Interest Period,” the applicable notice must be received by the Administrative Agent not later than 9:00 a.m. four Business Days prior to the requested date of such BorrowingSection 2.10(c), conversion or continuation, whereupon the Administrative Agent shall give prompt notice to the Lenders of such request and determine whether the requested Interest Period is acceptable to all of them. Not later than 10:00 a.m., three Business Days before the requested date of such Borrowing, conversion or continuation, the Administrative Agent shall notify the Company (which notice may be by telephone) whether or not the requested Interest Period has been consented to by all the Lenders. Each each Revolving Credit Loan Borrowing of, conversion to or continuation of Eurodollar Rate Loans shall be in a principal amount of $3,000,000 50,000 or a whole multiple of $1,000,000 in excess thereof. Except as provided in Sections 2.03(c) and 2.04(c), each Borrowing of or conversion to Base Rate Loans shall be in a principal amount of $1,000,000 or a whole multiple of $500,000 50,000 in excess thereof. Each Revolving Credit Loan Notice (whether telephonic or written) shall specify (i) whether the Company is Borrowers are requesting a Term Borrowing, a Revolving Credit Borrowing, a conversion of Term Loans or Revolving Credit Loans from one Type to the other, other or a continuation of Eurodollar Rate Loans, (ii) the requested date of the Borrowingborrowing, conversion or continuation, as the case may be be, date of the Revolving Credit Loans (which shall be a Business Day), (iii) the principal amount of the Revolving Credit Loans to be borrowed, converted or continued, (iv) the Type of Revolving Credit Loans to be borrowed or to which existing Revolving Credit Loans are to be converted, converted and (viv) if applicable, the duration of the Interest Period with respect thereto and (vi) the Borrower for which such Borrowing is requestedthereto. If the Company fails Borrowers fail to specify a Type of Revolving Credit Loan in a Revolving Credit Loan NoticeNotice or if the Borrowers fail to give a timely notice requesting a conversion or continuation, then the applicable Revolving Credit Loans shall be made as as, or converted to, Base Rate Loans. Notwithstanding Any such automatic conversion to Base Rate Loans shall be effective as of the foregoing, last day of the Interest Period then in effect with respect to any the applicable Eurodollar Rate Loan made hereunder, if the Company fails to specify a Type of Loan in the Loan Notice relating to such outstanding Eurodollar Rate Loan or fails to deliver a Loan Notice requesting continuation or conversion of such outstanding Eurodollar Rate Loan, then such Eurodollar Rate Loan shall be continued as a Eurodollar Rate Loan with an Interest Period of one monthLoans. If the Company requests Borrowers request a Revolving Credit Loan Borrowing of, conversion to, or continuation of Eurodollar Rate Loans in any such Revolving Credit Loan Notice, but fails fail to specify an Interest Period, it will be deemed to have specified an Interest Period of one month. Any automatic continuation of a Eurodollar Rate Loan shall be effective as of the last day of the Interest Period then in effect with respect to such Eurodollar Rate Loan.

Appears in 1 contract

Samples: Credit Agreement (Famous Daves of America Inc)

Borrowings, Conversions and Continuations of Revolving Credit Loans. (a) Each Term Borrowing, each Revolving Credit Borrowing, each conversion of Term Loans or Revolving Credit Loans from one Type to the other, other and each continuation of Eurodollar Rate Revolving Credit Loans shall be made upon the CompanyBorrower’s irrevocable (subject to Section 3.03) notice to the Administrative Agent, which may be given by (A) telephone, or (B) a Loan Notice; provided that any telephone notice must be confirmed promptly by delivery to the Administrative Agent of a Loan Notice. Each such notice must be received by the Administrative Agent not later than 9:00 a.m. 12:00 p.m. (i) three two Business Days prior to the requested date of any Revolving Credit Borrowing of, conversion to or continuation of Eurodollar Rate Revolving Credit Loans or of any conversion of Eurodollar Rate Revolving Credit Loans to Base Rate Revolving Credit Loans, and (ii) on the requested date of any Revolving Credit Borrowing of Base Rate Revolving Credit Loans and (iii) on the Closing Date with respect to the GO Bond Term Loans; provided, however, that if the Company Borrower wishes to request Eurodollar Rate Revolving Credit Loans having an Interest Period other than oneseven days, twofourteen days, one month, two months, three months or six months in duration as provided in the definition of “Interest Period,” the applicable notice must be received by the Administrative Agent not later than 9:00 a.m. four 12:00 p.m. three Business Days prior to the requested date of such Borrowing, conversion or continuation, whereupon the Administrative Agent (x) shall give prompt notice to the Revolving Credit Lenders of such request and determine whether the requested Interest Period is acceptable to all of them. Not such Lenders and (y) not later than 10:00 a.m.12:00 p.m., three two Business Days before the requested date of such Borrowing, conversion or continuation, the Administrative Agent shall notify the Company Borrower (which notice may be by telephone) whether or not the requested Interest Period has been consented to by all the Revolving Credit Lenders; provided, further, if any requested Revolving Credit Borrowing or portion thereof is to be utilized exclusively for working capital purposes (such Revolving Credit Borrowing or such portion being called a “Working Capital Borrowing”), the Borrower shall specify in the Revolving Credit Loan Notice that such Revolving Credit Borrowing or such portion is a Working Capital Borrowing. In addition, any repayment of a Loan that is intended as a repayment of all or any part of the outstanding amount of one or more Working Capital Borrowings shall be so identified to the Administrative Agent at the time of such repayment. Each telephonic notice by the Borrower pursuant to this Section 2.02(a) must be confirmed promptly by delivery to the Administrative Agent of a written Revolving Credit Loan Notice, appropriately completed and signed by a Responsible Officer of the Borrower. Each Revolving Credit Borrowing of, conversion to or continuation of Eurodollar Rate Revolving Credit Loans shall be in a principal amount of $3,000,000 1,000,000 or a whole multiple of $1,000,000 100,000 in excess thereof. Except as provided in Sections 2.03(c) and 2.04(c), each Revolving Credit Borrowing of or conversion to Base Rate Revolving Credit Loans shall be in a principal amount of $1,000,000 500,000 or a whole multiple of $500,000 100,000 in excess thereof. Each Revolving Credit Loan Notice (whether telephonic or written) shall specify (i) whether the Company Borrower is requesting a Term Borrowing, a Revolving Credit Borrowing, a conversion of Term Loans or Revolving Credit Loans from one Type to the other, or a continuation of Eurodollar Rate Revolving Credit Loans, (ii) the requested date of the Borrowing, conversion or continuation, as the case may be (which shall be a Business Day), (iii) the principal amount of Revolving Credit Loans to be borrowed, converted or continued, (iv) the Type of Revolving Credit Loans to be borrowed or to which existing Revolving Credit Loans are to be converted, and (v) if applicable, the duration of the Interest Period with respect thereto and (vi) the Borrower for which such Borrowing is requestedthereto. If the Company Borrower fails to specify a Type of Revolving Credit Loan in a Revolving Credit Loan NoticeNotice or if the Borrower fails to give a timely notice requesting a conversion or continuation, then the applicable Revolving Credit Loans shall be made as as, or converted to, Base Rate Loans. Notwithstanding Any such automatic conversion to Base Rate Loans shall be effective as of the foregoing, last day of the Interest Period then in effect with respect to any the applicable Eurodollar Rate Loan made hereunder, if the Company fails to specify a Type of Loan in the Loan Notice relating to such outstanding Eurodollar Rate Loan or fails to deliver a Loan Notice requesting continuation or conversion of such outstanding Eurodollar Rate Loan, then such Eurodollar Rate Loan shall be continued as a Eurodollar Rate Loan with an Interest Period of one monthRevolving Credit Loans. If the Company Borrower requests a Borrowing of, conversion to, or continuation of Eurodollar Rate Revolving Credit Loans in any such Revolving Credit Loan Notice, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one month. Any automatic continuation of a Eurodollar Rate Loan shall be effective as of the last day of the Interest Period then in effect with respect to such Eurodollar Rate Loan.

Appears in 1 contract

Samples: Credit Agreement (Paa Natural Gas Storage Lp)

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