Common use of Disbursement of Revolving Credit Advances Clause in Contracts

Disbursement of Revolving Credit Advances. (a) Upon receiving any Request for Revolving Credit Advance from Company under Section 2.7 hereof, Agent shall promptly notify each Revolving Credit Bank by wire, telecopy or by telephone (confirmed by wire or telecopy) of the amount of such Revolving Credit Advance to be made and the date such Advance is to be made by said Revolving Credit Bank pursuant to its Percentage of the Revolving Credit Advance. Unless such Revolving Credit Bank's commitment to make Revolving Credit Advances hereunder shall have been suspended or terminated in accordance with this Agreement, each Revolving Credit Bank shall send the amount of its Revolving Credit Percentage of the Advance in same day funds in Dollars to Agent at the office of Agent located at Xxx Xxxxxxx Xxxxxx, Xxxxxxx, Xxxxxxxx 00000 not later than 2:00 p.m. (Detroit time) on the date of such Advance.

Appears in 2 contracts

Samples: Credit Agreement (North Pointe Holdings Corp), Credit Agreement (North Pointe Holdings Corp)

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Disbursement of Revolving Credit Advances. (a) Upon receiving any Request for Revolving Credit Advance from the Company under Section 2.7 2.4(a) hereof, Agent shall promptly notify each Revolving Credit Bank Lender by wire, telex or telephone (confirmed by wire, telecopy or by telephone (confirmed by wire or telecopytelex) of the amount of such Revolving Credit Advance to be made and the date such Revolving Credit Advance is to be made by said Revolving Credit Bank Lender pursuant to its Percentage of the such Revolving Credit Advance. Unless such Revolving Credit Bank's Lender’s commitment to make Revolving Credit Advances hereunder shall have been suspended or terminated in accordance with this Agreement, each Revolving Credit Bank such Lender shall send make available the amount of its Percentage of each Revolving Credit Percentage of the Advance in same day immediately available funds in Dollars to Agent Agent, at the office of Agent located at Xxx Xxxxxxx Xxxxxx0000 Xxxxxxxxx Xxxxxxxxx, XxxxxxxXxxxxxxxxxx, Xxxxxxxx 00000 Xxxxxxxxx, not later than 2:00 1:00 p.m. (Detroit Minneapolis time) on the date of such Revolving Credit Advance.;

Appears in 1 contract

Samples: Credit Agreement (Quantum Fuel Systems Technologies Worldwide Inc)

Disbursement of Revolving Credit Advances. (a) Upon receiving any Request for Revolving Credit Advance from Company under Section 2.7 hereof, Agent shall promptly notify each Revolving Credit Bank by wire, telecopy telecopy, telex or by telephone (confirmed by wire wire, telecopy or telecopytelex) of the amount of such Revolving Credit Advance to be made and the date such Advance is to be made by said Revolving Credit Bank pursuant to its Percentage of the Revolving Credit Advance. Unless such Revolving Credit Bank's commitment to make Revolving Credit Advances hereunder shall have been suspended or terminated in accordance with this Agreement, each Revolving Credit Bank shall send the amount of its Revolving Credit Percentage of the Advance in same day funds in Dollars to Agent at the office of Agent located at Xxx One Xxxxxxx Xxxxxx, Xxxxxxx, Xxxxxxxx 00000 not 00000-0000 xxx later than 2:00 p.m. (Detroit time) on the date of such Advance.

Appears in 1 contract

Samples: Credit Agreement (Mce Companies Inc)

Disbursement of Revolving Credit Advances. (a) Upon receiving any Request for Revolving Credit Advance from Company under Section 2.7 2.3 hereof, Agent shall promptly notify each Revolving Credit Bank by wire, telecopy telecopy, telex or by telephone (confirmed by wire wire, telecopy or telecopytelex) of the amount of such Revolving Credit Advance to be made and the date such Advance is to be made by said Revolving Credit Bank pursuant to its Percentage of the Revolving Credit Advance. Unless such Revolving Credit Bank's commitment to make Revolving Credit Advances hereunder shall have been suspended or terminated in accordance with this Agreement, each Revolving Credit Bank shall send the amount of its Revolving Credit Percentage of the Advance in same day funds in Dollars to Agent at the office of Agent located at Xxx Xxxxxxx Xxxxxx, Xxxxxxx, Xxxxxxxx 00000 not later than 2:00 p.m. (Detroit time) on the date of such Advance.

Appears in 1 contract

Samples: Credit Agreement (Jpe Inc)

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Disbursement of Revolving Credit Advances. (a) Upon receiving any Request for Revolving Credit Advance (or telephone request) from Company under Section 2.7 2.3 hereof, Agent shall promptly notify each Revolving Credit Bank by wire, telecopy telecopy, telex or by telephone (confirmed by wire wire, telecopy or telecopytelex) of the amount of such Revolving Credit Advance to be made and the date such Advance is to be made by said Revolving Credit Bank pursuant to its Percentage of the such Revolving Credit Advance. Unless such Revolving Credit Bank's commitment to make Revolving Credit Advances hereunder shall have been suspended or terminated in accordance with this Agreement, each Revolving Credit Bank shall send the amount of its Revolving Credit Percentage of the Advance in same day funds in Dollars to Agent at the office of Agent located at Xxx Xxxxxxx Xxxxxx, Xxxxxxx, Xxxxxxxx 00000 00000-0000 not later than 2:00 p.m. (Detroit time) on the date of such Advance.

Appears in 1 contract

Samples: Credit Agreement (Jacobson Stores Inc)

Disbursement of Revolving Credit Advances. (a) Upon receiving any Request for Revolving Credit Advance from Company under Section 2.7 hereof, Agent shall promptly notify each Revolving Credit Bank by wire, telecopy telex or by telephone (confirmed by wire wire, telecopy or telecopytelex) of the amount of such Revolving Credit Advance to be made and the date such Revolving Credit Advance is to be made by said Revolving Credit Bank pursuant to its Percentage of the Revolving Credit Advance. Unless such Revolving Credit Bank's commitment to make Revolving Credit Advances hereunder shall have been suspended or terminated in accordance with this Agreement, each Revolving Credit Bank shall send make available the amount of its Revolving Credit Percentage of the Revolving Credit Advance in same day funds in Dollars to Agent at the office of Agent located at Xxx Xxxxxxx Xxxxxx, Xxxxxxx, Xxxxxxxx 00000 not later than 2:00 p.m. (Detroit time) on the date of such Revolving Credit Advance.

Appears in 1 contract

Samples: Credit Agreement (Champion Enterprises Inc)

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