Common use of Disbursements of Loan Proceeds Clause in Contracts

Disbursements of Loan Proceeds. A single Advance shall be made hereunder by each Lender in the full amount of the initial Commitment of such Lender, or in the case of an increase in the Commitment of an existing Lender made pursuant to Section 2.1, in the full amount of such increase. The Borrower shall give the Agent notice pursuant to a Notice of Borrowing or telephonic notice of each borrowing of the Loans. Each Notice of Borrowing shall be delivered to the Agent before 11:00 a.m. (i) in the case of LIBOR Loans, on the date three Business Days prior to the proposed date of such borrowing and (ii) in the case of Base Rate Loans, on the date one Business Day prior to the proposed date of such borrowing. The Borrower shall select the Type of Loans and, in the case of each LIBOR Loan, the LIBOR Interest Period applicable thereto, to be included in each such Advance in the Notice of Borrowing. Any such telephonic notice shall include all information to be specified in a written Notice of Borrowing and shall promptly be confirmed in writing by the Borrower pursuant to a Notice of Borrowing sent to the Agent by telecopy on the same day of the giving of such telephonic notice. The Agent will transmit by telecopy the Notice of Borrowing (or the information contained in such Notice of Borrowing) to the applicable Lender promptly upon receipt by the Agent and in no event after the close of business on the date the Agent receives such notice. No later than 1:00 p.m. on the date specified in the Notice of Borrowing, the applicable Lender will make available for the account of its applicable Lending Office to the Agent at the Principal Office, in immediately available funds, the proceeds of the Loan to be made by such Lender. Subject to satisfaction of the applicable conditions set forth in Article VI for such borrowing, the Agent will make the proceeds of such borrowing available to the Borrower no later than 2:00 p.m. on the date and at the account specified by the Borrower in such Notice of Borrowing.

Disbursements of Loan Proceeds. A single Advance shall Upon the satisfaction of all applicable conditions precedent to the making of a Loan set forth in Article VI., with respect to Loans to be made hereunder by each Lender in after the full amount of Effective Date, the initial Commitment Agent shall deliver a notice of such Lender, or in satisfaction to the case of an increase in the Commitment of an existing Lender made pursuant to Section 2.1, in the full amount of such increase. The Borrower shall give the Agent notice pursuant to a Lenders (“Notice of Borrowing or telephonic notice Satisfaction of each borrowing of the LoansConditions Precedent”). Each Notice of Borrowing shall be delivered to the Agent before 11:00 a.m. No later than 1:00 p.m. (i) in the case of LIBOR Loans, on the date three Business Days prior to the proposed date of such borrowing and (ii) in the case of Base Rate Loans, on the date that is one Business Day prior to the proposed date after receipt of such borrowing. The Borrower shall select Notice of Satisfaction of Conditions Precedent (provided if such date is not a Business Day, the Type of Loans and, next succeeding Business Day) or (ii) in the case of each LIBOR LoanLoans, the LIBOR Interest Period applicable thereto, to be included in each such Advance in the Notice of Borrowing. Any such telephonic notice shall include all information to be specified in a written Notice of Borrowing and shall promptly be confirmed in writing by the Borrower pursuant to a Notice of Borrowing sent to the Agent by telecopy on the same day date that is three (3) Business Days after receipt of the giving of such telephonic notice. The Agent will transmit by telecopy the Notice of Borrowing (or the information contained in such Notice of Satisfaction of Conditions Precedent (provided if such date is not a Business Day, the next succeeding Business Day) (each a “Date of Borrowing”) to the applicable Lender promptly upon receipt by the Agent and in or no event after the close of business on the date the Agent receives such notice. No later than 1:00 p.m. on the date specified in the Notice of BorrowingEffective Date for Loans to be made on such date, the applicable each Lender will make available for the account of its applicable Lending Office to the Agent at the Principal Office, in immediately available funds, the proceeds of the Loan to be made by such Lender. With respect to Loans to be made after the Effective Date, unless the Agent shall have been notified by any Lender prior to the specified Date of Borrowing that such Lender does not intend to make available to the Agent the Loan to be made by such Lender on such date, the Agent may assume that such Lender will make the proceeds of such Loan available to the Agent on the applicable Date of Borrowing and the Agent may (but shall not be obligated to), in reliance upon such assumption, make available to the Borrower the amount of such Loan to be provided by such Lender. Subject to satisfaction of the applicable terms and conditions set forth in Article VI for such borrowinghereof, the Agent will make the proceeds of such borrowing available to the Borrower no later than 2:00 p.m. on the date applicable Date of Borrowing and at the account specified by the Borrower in such Notice of BorrowingDraw Request or, pursuant to Section 2.1.(i)., to the Operating Account.

Disbursements of Loan Proceeds. A single Advance shall be made hereunder by each Lender in the full amount of the initial Commitment of such Lender, or in the case of an increase in the Commitment of an existing Lender made pursuant to Section 2.1, in the full amount of such increase. The Borrower shall give the Agent notice pursuant to a Notice of Borrowing or telephonic notice of each borrowing of the Loans. Each Notice of Borrowing shall be delivered to the Agent before 11:00 a.m. (i) in the case of LIBOR Loans, on the date three Business Days prior to the proposed date of such borrowing and (ii) in the case of Base Rate Loans, on the date one Business Day prior to the proposed date of such borrowing. The Borrower shall select the Type of Loans and, in the case of each LIBOR Loan, the LIBOR Interest Period applicable thereto, to be included in each such Advance in the Notice of Borrowing. Any such telephonic notice shall include all information to be specified in a written Notice of Borrowing and shall promptly be confirmed in writing by the Borrower pursuant to a Notice of Borrowing sent to the Agent by telecopy on the same day of the giving of such telephonic notice. The Agent will transmit by telecopy the Notice of Borrowing (or the information contained in such Notice of Borrowing) to the applicable Lender promptly upon receipt by the Agent and in no event after the close of business on the date the Agent receives such notice. No later than 1:00 p.m. on the date specified in the Notice of Borrowing, the applicable each Lender will make available for the account of its applicable Lending Office to the Agent at the Principal Office, in immediately available funds, the proceeds of the Loans to be made by such Lender. With respect to Loans to be made after the Effective Date, unless the Agent shall have been notified by any Lender that such Lender will not make available to the Agent a Loan to be made by such Lender in connection with any borrowing, the Agent may assume that such Lender will make the proceeds of such Loan available to the Agent in accordance with this Section, and the Agent may (but shall not be obligated to), in reliance upon such assumption, make available to the applicable Borrower the amount of such Loan to be provided by such Lender. In such event, if such Lender does not make available to the Agent the proceeds of such Loan, then such Lender and the Borrowers severally agree to pay to the Agent on demand the amount of such Loan with interest thereon, for each day from and including the date such Loan is made available to a Borrower but excluding the date of payment to the Agent, at (i) in the case of a payment to be made by such Lender, the greater of the Federal Funds Rate and a rate determined by the Agent in accordance with banking industry rules on interbank compensation and (ii) in the case of a payment to be made by a Borrower, the interest rate applicable hereunder to such Loans. If a Borrower and such Lender shall pay the amount of such interest to the Agent for the same or overlapping period, the Agent shall promptly remit to the applicable Borrower the amount of such interest paid by such Borrower for such period. If such Lender pays to the Agent the amount of such Loan, the amount so paid shall constitute such Lender’s Loan included in the borrowing. Any payment by a Borrower shall be without prejudice to any claim any Borrower may have against a Lender that shall have failed to make available the proceeds of a Loan to be made by such Lender. Subject to satisfaction of the applicable conditions set forth in Article VI V for such borrowing, the Agent will make the proceeds of such borrowing available to the Borrower Borrowers no later than 2:00 p.m. on the date and at the account specified by the Borrower Borrowers in such Notice of Borrowing.