Borrowings of Loans. (a) Each Borrowing shall be made upon the Borrower’s irrevocable notice to the Administrative Agent, which may be given by a Request for Credit Extension. Each such Request for Credit Extension must be received by the Administrative Agent not later than 11:00 a.m. (i) in the case of the Borrowing of Initial Term Loans to occur on the Closing Date, at least three (3) Business Days prior to the Closing Date and (ii) in the case of a Borrowing of DDTLs, at least five (5) Business Days prior to the date of the proposed Borrowing. Each Borrowing of Loans shall be in a principal amount of at least $25,000,000 or a whole multiple of $1,000,000 in excess thereof. Each Request for Credit Extension shall specify (i) whether the Borrower is requesting an Initial Term Loan or DDTL, (ii) the requested date of the Borrowing (which shall be a Business Day) and (iii) the principal amount of Loans to be borrowed (and, in the case of a Borrowing of DDTLs, the amount of such Borrowing constituting Initial DDTLs and the amount thereof constituting Additional DDTLs, if applicable).
(b) Following receipt of a Request for Credit Extension, the Administrative Agent shall promptly notify each Lender of the amount of its Applicable Percentage of the applicable Loans. Subject to the satisfaction of the applicable conditions set forth in Section 4.02 (and, if such Borrowing is the initial Credit Extension, Section 4.01), each Lender shall make the amount of its Loan available to the Borrower by wire transfer of such funds, in each case in accordance with instructions provided to the Administrative Agent by the Borrower, on the Business Day specified in the applicable Request for Credit Extension.
Borrowings of Loans. (a) Each Borrowing, each conversion of Loans from one Type to the other, and each continuation of BSBY Rate Loans shall be made upon Borrower’s irrevocable notice to Administrative Agent, which may be given by telephone. Each such notice must be received by Administrative Agent not later than 11:00 a.m. (i) two (2) Business Days prior to the requested date of any Borrowing of, conversion to or continuation of BSBY Rate Loans or of any conversion of BSBY Rate Loans to BSBY Daily Floating Rate Loans, and (ii) on the requested date of any Borrowing of BSBY Daily Floating Rate Loans. 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 BSBY Rate Loans shall be in a principal amount of $1,000,000 or a whole multiple of $250,000 in excess thereof. Each Borrowing of or conversion to BSBY Daily Floating Rate Loans shall be in a principal amount of $1,000,000 or a whole multiple of $100,000 in excess thereof. Each Loan Notice (whether telephonic or written) shall specify (i) whether Borrower is requesting a Borrowing, a conversion of Loans from one Type to the other, or a continuation of BSBY 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. If Borrower fails to specify a Type of Loan in a Loan Notice or if Borrower fails to give a timely notice requesting a conversion or continuation, then the applicable Loans shall be made as, or converted to, BSBY Daily Floating Rate Loans. Any such automatic conversion to BSBY Daily Floating Rate Loans shall be effective as of the last day of the Interest Period then in effect with respect to the applicable BSBY Rate Loans. If Borrower requests a Borrowing of, conversion to, or continuation of BSBY 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 (1) month.
(b) Following receipt of a Loan Notice, Administrative Agent shall promptly notify each Lender of the amount of its Applicable Percentage ...
Borrowings of Loans. (a) To request a Borrowing, each Borrower requesting a Borrowing shall give written notice (a “Borrowing Request”) substantially in the form of Exhibit B-1 hereto to the Administrative Agent of each proposed Borrowing not later than 12:00 noon, New York City time, three (3) Business Days prior to the requested date of such Borrowing, which, in the case of the initial Borrowing, shall be the Closing Date.
(b) Each Borrowing Request shall specify: (i) the aggregate amount of the requested Borrowing, (ii) the principal amount of Loans to be borrowed, which shall not be in excess of the unadvanced and uncancelled Commitments on the proposed Borrowing Date, (iii) the portions of such Borrowing that shall be comprised of LIBOR Loans and/or ABR Loans, as
(c) Each Borrowing Request shall be effective upon receipt by the Administrative Agent and shall be irrevocable and binding on the Borrowers; provided that such Borrowing Request may state that it is conditioned upon the consummation of a specified event, in which case such Borrowing Request may be revoked by the BVI Borrower if such condition is not satisfied.
(d) Following receipt of a Borrowing Request, the Administrative Agent shall promptly notify each applicable Lender of the amount of its Applicable Percentage of the requested Borrowing. Unless BVI Borrower, the Administrative Agent and each applicable Lender shall have agreed to alternate borrowing procedures, each applicable Lender shall make the amount of its applicable Loan available to the Administrative Agent in immediately available funds at the office specified by the Administrative Agent not later than 11:00 a.m. on the Business Day specified in the applicable Borrowing Request. Upon satisfaction of the applicable conditions set forth in Section 5.01 or 5.02, as applicable, the Administrative Agent shall remit all funds so received in like funds as received by the Administrative Agent by wire transfer of such funds to the account of the applicable Borrower in accordance with instructions provided to (and reasonably acceptable to) the Administrative Agent by such Borrower in the applicable Borrowing Request.
(e) Promptly after the determination of any interest rate provided for herein or any change therein, the Administrative Agent shall give notice thereof to the Lenders and to the Borrowers (it being understood that the Administrative Agent’s failure to do so shall not affect any interest rate applicable hereunder).
Borrowings of Loans. 17 2.03 Changes of Commitments; Reduction of Maximum Loan Amounts............................ 17 2.04 Fees................................................................................. 17 2.05
Borrowings of Loans. Each Borrowing shall be made upon the Borrower’s irrevocable notice to the Lender, which may be given by telephone. Each such notice must be received by the Lender not later than 11:00 a.m. (local time in New York City) one Business Day prior to the requested date of any Borrowing. Each telephonic notice by the Borrower pursuant to this Section 2.02(a) must be confirmed promptly by delivery to the Lender of a written Committed Loan Notice, appropriately completed and signed by a Responsible Officer of the Borrower. Except as provided in Section 2.14(a), each Borrowing shall be in a minimum principal amount of $1,000,000 or a whole multiple of $500,000 in excess thereof. Each Committed Loan Notice (whether telephonic or written) shall specify (i) the requested date of the Borrowing (which shall be a Business Day), and (ii) the principal amount of Loans to be borrowed.
Borrowings of Loans. The Company shall give the Agent notice of each borrowing hereunder as provided in Section 4.05 hereof. Not later than 1:00 p.m. New York time on the date specified for each borrowing of Loans hereunder, each Lender shall make available the amount of the Loan or Loans to be made by it on such date to the Agent, at an account (designated by the Agent) maintained by the Agent with TD at the Principal Office, in immediately available funds, for account of the Company. The amount so received by the Agent shall, subject to the terms and conditions of this Agreement, be made available to the Company by depositing the same, in immediately available funds, in an account of the Company maintained with TD at the Principal Office designated by the Company.
Borrowings of Loans. The Company shall give the Administrative Agent (which shall promptly notify the Lenders) notice of each borrowing of Loans hereunder as provided in Section 4.05 hereof. Not later than 2:00 p.m. New York time on the date specified for each borrowing of Loans hereunder, each Lender shall make available the amount of the Loan or Loans to be made by it on such date to the Administrative Agent at the Principal Office, in Dollars and immediately available funds, for account of the Company. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available by the Administrative Agent to the Company by depositing the same, in immediately available funds, in an account of the Company maintained with Chase at the Principal Office designated by the Company.
Borrowings of Loans. The Company shall give the Agent notice of each borrowing hereunder as provided in Section 4.05 hereof. Not later than 1:00 p.m. New York time on the date specified for each borrowing of Loans hereunder, each Lender shall make available the amount of the Loan or Loans to be made by it on such date to the Agent, at account number 9301035763 (ABA No. 021000021) maintained by the Agent with The Chase Manhattan Bank, in xxxxxxxxely available funds, for account of the Company. The amount so received by the Agent shall, subject to the terms and conditions of this Agreement, be made available to the Company by depositing the same, in immediately available funds, in an account of the Company maintained with a bank in New York City, Houston, Texas or San Francisco, California, designated by the Company.
Borrowings of Loans. (a) Borrower may irrevocably request a Borrowing of Loans in a Minimum Amount therefor by delivering a Request for Extension of Credit therefor by Requisite Notice to Lender not later than the Requisite Time therefor.
(b) Upon satisfaction of the applicable conditions set forth in Section 4.02, (and if the initial Extension of Credit hereunder, Section 4.01), the requested loan shall be made available to the Borrower.
Borrowings of Loans. (a) Each Borrowing shall be made upon the Borrower’s irrevocable notice to the Administrative Agent, which may be given by telephone.
(b) Following receipt of a Loan Notice, the Administrative Agent shall promptly notify each Lender in writing or by telecopier or other electronic communication of the amount of its Applicable Percentage of the Loans.
(c) The LIBOR Rate in effect for the term of any Loan borrowed hereunder shall be 0.280%, being the LIBOR Rate in effect on the Closing Date. The Administrative Agent shall promptly notify the Borrower and the Lenders (in writing or by telecopier or other electronic communication) of the LIBOR Rate upon determination of such interest rate pursuant to the preceding sentence.
