Common use of Funding of Competitive Loans Clause in Contracts

Funding of Competitive Loans. Each Lender which is to make a Competitive Loan shall make its Competitive Loan borrowing available to the Agent for the account of the Borrowers at the office of the Agent specified in Schedule 11.1, or at such other office as the Agent may designate in writing, by 1:00 P.M. (Charlotte, North Carolina time) on the date specified in the Competitive Bid Request in Dollars and in funds immediately available to the Agent. Such borrowing will then be made available to the Borrowers by crediting the account of the Borrowers on the books of such office with the aggregate of the amount made available to the Agent by the Competitive Loan Lenders and in like funds as received by the Agent.

Funding of Competitive Loans. Each Lender which is to make a Competitive Loan shall make its Competitive Loan borrowing available to the Agent for the account of the Borrowers Xxxx at the office of the Agent specified in Schedule 11.1Section 3.14(b), or at such other office as the Agent may designate in writing, by 1:00 1:30 P.M. (Charlotte, North Carolina time) on the date specified in the Competitive Bid Request in Dollars and in funds immediately available to the Agent. Such borrowing will then be made available to the Borrowers Xxxx by crediting the account of the Borrowers Xxxx on the books of such office with the aggregate of the amount made available to the Agent by the applicable Competitive Loan Lenders and in like funds as received by the Agent.