Common use of Calculations and Computations Clause in Contracts

Calculations and Computations. Unless the Administrative Agent has received a written notice from a Lender no later than 12:00 p.m., New York time, at least five (5) Business Days before the requested Borrowing Date contesting the Borrower’s calculations in the Borrowing Base Certificate submitted by the Borrower, the Administrative Agent shall confirm the Available Borrowing Base and provide notice thereof to the Borrower and each Lender. If the Administrative Agent receives a written notice from a Lender contesting the Borrower’s calculations in such Borrowing Base Certificate, it shall inform the Borrower and provide an amended Borrowing Base Certificate (provided to the Administrative Agent by the objecting Lender no later than five (5) days prior to the initial requested Borrowing Date). Thereafter, Borrower may (A) agree to such amended Borrowing Base Certificate and deliver an amended Borrowing Notice to the Administrative Agent, or (B) by written notice to the Administrative Agent, rescind the Borrowing Notice. The delivery of an amendment to a Borrowing Notice or a rescission of a Borrowing Notice pursuant to this clause (v) shall not be subject to Section 2.7, provided that the Borrower delivers such amendment or rescission no later than 12:00 p.m. New York time two (2) Business Days before the requested Borrowing Date.

Appears in 2 contracts

Samples: Loan Agreement (Solarcity Corp), Loan Agreement (Solarcity Corp)

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Calculations and Computations. Unless the Administrative Agent has received a written notice from a Lender Group Agent no later than 12:00 2:00 p.m., New York time, at least five one (51) Business Days Day before the requested Borrowing Date contesting the Borrower’s calculations in the Borrowing Base Certificate submitted by the Borrower, the Administrative Agent shall confirm the Available Borrowing Base and provide notice thereof to the Borrower and each LenderGroup Agent. If the Administrative Agent receives a written notice from a Lender Group Agent contesting the Borrower’s calculations in such Borrowing Base Certificate, it shall inform the Borrower and provide an amended Borrowing Base Certificate (provided to the Administrative Agent by the objecting Lender Group Agent no later than five one (51) days Business Day prior to the initial requested Borrowing Date). Thereafter, Borrower may (A) agree to such amended Borrowing Base Certificate and deliver an amended Borrowing Notice to the Administrative Agent, or (B) by written notice to the Administrative Agent, rescind the Borrowing Notice. The delivery of an amendment to a Borrowing Notice or a rescission of a Borrowing Notice pursuant to this clause (v) shall not be subject to Section 2.7, provided that the Borrower delivers such amendment or rescission no later than 12:00 p.m. New York time two one (21) Business Days Day before the requested Borrowing Date.

Appears in 1 contract

Samples: Required Group Agent Action No. 2 (Solarcity Corp)

Calculations and Computations. Unless the Administrative Agent has received a written notice from a Lender no later than 12:00 p.m., New York time, at least five four (54) Business Days before the requested Borrowing Date date contesting the Borrower’s calculations in the Borrowing Base Certificate Sizing Model submitted by the BorrowerBorrower for the requested Borrowing, the Administrative Agent shall confirm the Available Borrowing Base PV Draw Amount and provide notice thereof to the Borrower and each Lender. If the Administrative Agent receives a written notice from a Lender contesting the Borrower’s calculations in such Borrowing Base CertificateSizing Model, it shall inform the Borrower Borrower, and provide an amended Borrowing Base Certificate (provided to the Administrative Agent by the objecting Lender no later than five (5) days prior to the initial requested Borrowing Date). Thereafter, Borrower may (A) agree to such amended Borrowing Base Certificate and deliver submit an amended Borrowing Notice and Trapper Loan Agreement [***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. Sizing Model to the Administrative Agent, Agent or (B) by written notice to the Administrative Agent, rescind the Borrowing Notice. The delivery of an amendment to a Borrowing Notice or a rescission of a Borrowing Notice pursuant to this clause (v) shall not be subject to Section 2.7, provided that the Borrower delivers such amendment or rescission no later than 12:00 p.m. New York time two three (23) Business Days before the requested Borrowing Datedate.

Appears in 1 contract

Samples: Loan Agreement (Solarcity Corp)

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Calculations and Computations. Unless the Administrative Agent has received a written notice from a Lender no later than 12:00 2:00 p.m., New York time, at least five two (52) Business Days before the requested Borrowing Date contesting the Borrower’s calculations in the Borrowing Base Certificate submitted by the Borrower, the Administrative Agent shall confirm the Available Borrowing Base and provide notice thereof to the Borrower and each Lender. If the Administrative Agent receives a written notice from a Lender contesting the Borrower’s calculations in such Borrowing Base Certificate, it Administrative Agent shall inform the Borrower and provide an amended Borrowing Base Certificate (provided to the Administrative Agent by the objecting Lender no later than five one (51) days Business Day prior to the initial requested Borrowing Date). Thereafter, Borrower may (A) agree to such amended Borrowing Base Certificate and deliver an amended Borrowing Notice (including the amended Borrowing Base Certificate and, if applicable, revised Aggregate Advance Model) to the Administrative Agent, or (B) by written notice to the Administrative Agent, rescind the Borrowing Notice. The delivery of an amendment to a Borrowing Notice or a rescission of a Borrowing Notice pursuant to this clause (v) shall not be subject to Section 2.72.07, provided that the Borrower delivers such amendment or rescission no later than 12:00 p.m. New York time two one (21) Business Days Day before the requested Borrowing Date.

Appears in 1 contract

Samples: Credit Agreement (Solarcity Corp)

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