Common use of CREDIT REQUESTS EXECUTED BY THE BORROWER Clause in Contracts

CREDIT REQUESTS EXECUTED BY THE BORROWER. Requests for Revolving Credit Loans comprising a Revolving Credit Borrowing shall be given by the Borrower to the Agent not later than 12:00 noon (Cleveland, Ohio time): (i) on the Business Day which is the requested date of a proposed Alternate Base Rate Borrowing comprised of Alternate Base Rate Loans (the Revolving Credit Borrowing made on the Closing Date must consist entirely of Alternate Base Rate Loans) and (ii) on the Business Day which is three (3) Business Days before the requested date of a proposed LIBOR Rate Borrowing. Except as herein after permitted, each such request (a "Credit Request") for a Revolving Credit Borrowing shall be in writing signed by the Borrower and transmitted by the Borrower to the Agent by telecopier, telex or cable (in the case of telex or cable, confirmed in writing prior to the date of the requested Revolving Credit Borrowing), in substantially the form of Exhibit B hereto. Each Credit Request shall specify: (A) the requested date of the Revolving Credit Borrowing, (B) the aggregate amount of such Revolving Credit Borrowing, (C) whether such Revolving Credit Borrowing is to be comprised of Alternate Base Rate Loans or LIBOR Rate Loans, and (D) in the case of a proposed LIBOR Rate Borrowing, the initial Interest Period for such LIBOR Rate Borrowing. Each Credit Request shall be irrevocable and binding on the Borrower and be subject to the indemnification provisions of Section 0 of this Agreement. The Borrower may give a Credit Request telephonically so long as: (I) a written Credit Request confirmation is received by the Agent by 1:00 p.m. (Cleveland, Ohio time) on the same day such telephonic Credit Request was given and (II) that the other requirements of this Section are satisfied. The Agent may rely on such telephonic Credit Request to the same extent that the Agent may rely on a written Credit Request. The

Appears in 2 contracts

Samples: Credit Agreement (Om Group Inc), Credit Agreement (Om Group Inc)

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CREDIT REQUESTS EXECUTED BY THE BORROWER. Requests from the Borrower for Revolving Credit Loans Advances comprising a Revolving Credit Borrowing shall be given by the Borrower to the Agent not later than 12:00 noon (Cleveland, Ohio time): (i) on the Business Day which is the requested date of a proposed Alternate Base Rate Revolving Credit Borrowing comprised of Alternate Base Rate Loans Advances (the Revolving Credit Borrowing Advances made on the Closing Date must consist entirely of Alternate Base Rate LoansAdvances) and (ii) on the Business Day which is three (3) Business Days before the requested date of a proposed Revolving Credit Borrowing comprised of LIBOR Rate BorrowingAdvances. Except as herein after permitted, each such request (a "Credit Request") for a Revolving Credit Borrowing shall be in writing signed by the Borrower and transmitted by the Borrower to the Agent by telecopier, telex or cable (in the case of telex or cable, confirmed in writing prior to the date of the requested Revolving Credit Borrowing), in substantially the form of Exhibit B hereto. Each Credit Request shall specify: (A) the requested date of the Revolving Credit Advances comprising such Revolving Credit Borrowing, (B) the aggregate amount of such Revolving Credit BorrowingAdvances, (C) whether such Revolving Credit Borrowing is to be comprised of Alternate Base Rate Loans Advances or LIBOR Rate LoansAdvances, and (D) in the case of a proposed Revolving Credit Borrowing comprised of LIBOR Rate BorrowingAdvances, the initial Interest Period for such LIBOR Rate BorrowingAdvances. Each Credit Request shall be irrevocable and binding on the Borrower and be subject to the indemnification provisions of Section 0 13 of this Agreement. The Borrower may give a Credit Request telephonically so long as: (I) a written Credit Request confirmation is received by the Agent by 1:00 12:30 p.m. (Cleveland, Ohio time) on the same day such telephonic Credit Request was given and (II) that the other requirements of this Section 2.3(a) are satisfiedcomplied with. The Agent may rely on such telephonic Credit Request to the same extent that the Agent may rely on a written Credit Request. TheThe Borrower shall bear all

Appears in 1 contract

Samples: Credit and Security Agreement (Curtis Sub Inc)

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CREDIT REQUESTS EXECUTED BY THE BORROWER. Requests from the Borrower for Revolving Credit Loans comprising a Revolving Credit Borrowing shall be given by the Borrower to the Agent not later than 12:00 noon (Cleveland, Ohio time): ) (i) on the Business Day which is the requested date of a proposed Alternate Base Rate Revolving Credit Borrowing comprised of Alternate Base Prime Rate Loans (the Revolving Credit Borrowing made on the Closing Date must consist entirely of Alternate Base Rate Loans) and (ii) on the Business Day which is three (3) Business Days before the requested date of a proposed Revolving Credit Borrowing comprised of LIBOR Rate BorrowingLoans. Except as otherwise provided herein after permittedwith respect to telephonic requests, each such request (a "Credit Request") for a Revolving Credit Borrowing shall be in writing signed by the Borrower and transmitted by the Borrower to the Agent by telecopier, telex or cable (in the case of telex or cable, confirmed in writing prior to the date of the requested Revolving Credit Borrowing), in substantially the form of Exhibit B attached hereto. Each Credit Request shall specify: (A) the requested date of the Revolving Credit Loans comprising such Revolving Credit Borrowing, (B) the aggregate amount of such Revolving Credit BorrowingLoans, (C) whether such the Revolving Credit Borrowing is to be comprised of Alternate Base Prime Rate Loans or LIBOR Rate Loans, and (D) in the case of a proposed Revolving Credit Borrowing comprised of LIBOR Rate BorrowingLoans, the initial Interest Period for such LIBOR Rate BorrowingLoans. Each Credit Request shall be irrevocable and binding on the Borrower and be subject to the indemnification provisions of Section 0 3 of this Agreement. The Borrower may give a Credit Request telephonically so long as: (I) upon request by the Agent, a written Credit Request confirmation for such Revolving Credit Borrowing is received by the Agent by 1:00 2:00 p.m. (Cleveland, Ohio time) on the same day such telephonic Credit Request was given and (II) that the other requirements of this Section 2.3 are satisfiedcomplied with by the Borrower. The Agent may rely on such telephonic Credit Request to the same extent that the Agent may rely on a written Credit Request. TheThe Borrower shall bear all risks related to the giving of a Credit Request by the Borrower whether given telephonically or by such other method of transmission as the Borrower shall elect.

Appears in 1 contract

Samples: Credit and Security Agreement (Diy Home Warehouse Inc)

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