Common use of Funding of Revolving Credit Loans Clause in Contracts

Funding of Revolving Credit Loans. Promptly after receipt of a Notice of Borrowing under the immediately preceding subsection (b), the Administrative Agent shall notify each Revolving Credit Lender of the proposed borrowing. Each Revolving Credit Lender shall deposit an amount equal to the Revolving Credit Loan to be made by such Revolving Credit Lender to the applicable Borrower with the Administrative Agent (i) in the case of Revolving Credit Loans denominated in Dollars, at the Principal Office, in immediately available funds not later than 1:00 p.m. New York City time on the date of such proposed Revolving Credit Loans and (ii) in the case of each Revolving Credit Loan denominated in a Foreign Currency, at the Multicurrency Payment Office for such currency, in immediately available funds not later than 11:00 a.m., Local Time on the date of such proposed Revolving Credit Loans. Subject to fulfillment of all applicable conditions set forth herein, the Administrative Agent shall make available to the applicable Borrower in the account specified in its Disbursement Instruction Agreement, not later than 2:00 p.m. New York City time or Local Time, as the case may be, on the date of the requested borrowing of Revolving Credit Loans that are Base Rate Loans and not later than 1:00 p.m. New York City time or Local Time, as the case may be, on the date of the requested borrowing of Revolving Credit Loans that are LIBOR Loans, CDOR Loans or AUD Rate Loans, the proceeds of such amounts received by the Administrative Agent. No Revolving Credit Lender shall be responsible for the failure of any other Revolving Credit Lender to make a Revolving Credit Loan or to perform any other obligation to be made or performed by such other Revolving Credit Lender hereunder, and the failure of any Revolving Credit Lender to make a Revolving Credit Loan or to perform any other obligation to be made or performed by it hereunder shall not relieve the obligation of any other Revolving Credit Lender to make any Revolving Credit Loan or to perform any other obligation to be made or performed by such other Lender.

Funding of Revolving Credit Loans. Promptly after receipt of a Notice of Borrowing under the immediately preceding subsection (b), the Administrative Agent shall notify each Revolving Credit Lender of the proposed borrowing. Each Revolving Credit Lender shall deposit an amount equal to the Revolving Credit Loan to be made by such Revolving Credit Lender to the applicable Borrower with the Administrative Agent (i) in the case of Revolving Credit Loans denominated in Dollars, at the Principal Office, in immediately available funds not later than 1:00 2:00 p.m. New York City time on the date of such proposed Revolving Credit Loans that are Base Rate Loans or LIBOR Daily Loans, and (ii) in the case of each Revolving Credit Loan denominated in a Foreign Currency, at the Multicurrency Payment Office for such currency, in immediately available funds not later than 11:00 a.m., Local Time 10:00 a.m. on the date of such proposed Revolving Credit Loans that are LIBOR Loans (other than LIBOR Daily Loans). Subject to fulfillment of all applicable conditions set forth herein, the Administrative Agent shall make available to the applicable Borrower in the account specified in its the Disbursement Instruction Agreement, not later than 2:00 4:00 p.m. New York City time or Local Time, as the case may be, on the date of the requested borrowing of Revolving Credit Loans that are Base Rate Loans or LIBOR Daily Loans and not later than 1:00 p.m. New York City time or Local Time, as the case may be, on the date of the requested borrowing of Revolving Credit Loans that are LIBOR Loans (other than LIBOR Daily Loans, CDOR Loans or AUD Rate Loans), the proceeds of such amounts received by the Administrative Agent. No Revolving Credit Lender shall be responsible for the failure of any other Revolving Credit Lender to make a Revolving Credit Loan or to perform any other obligation to be made or performed by such other Revolving Credit Lender hereunder, and the failure of any Revolving Credit Lender to make a Revolving Credit Loan or to perform any other obligation to be made or performed by it hereunder shall not relieve the obligation of any other Revolving Credit Lender to make any Revolving Credit Loan or to perform any other obligation to be made or performed by such other Lender.

Funding of Revolving Credit Loans. Promptly after receipt of a Notice of Borrowing under the immediately preceding subsection (b), the Administrative Agent shall notify each Revolving Credit Lender of the proposed borrowing. Each Revolving Credit Lender shall deposit an amount equal to the Revolving Credit Loan to be made by such Revolving Credit Lender to the applicable Borrower with the Administrative Agent (i) in the case of Revolving Credit Loans denominated in Dollars, at the Principal Office, in immediately available funds not later than 1:00 2:00 p.m. New York City time on the date of such proposed Revolving Credit Loans that are Base Rate Loans and (ii) in the case of each Revolving Credit Loan denominated in a Foreign Currency, at the Multicurrency Payment Office for such currency, in immediately available funds not later than 11:00 a.m., Local Time 10:00 a.m. on the date of such proposed Revolving Credit Loans that are LIBOR Loans. Subject to fulfillment of all applicable conditions set forth herein, the Administrative Agent shall make available to the applicable Borrower in the account specified in its the Disbursement Instruction Agreement, not later than 2:00 4:00 p.m. New York City time or Local Time, as the case may be, on the date of the requested borrowing of Revolving Credit Loans that are Base Rate Loans and not later than 1:00 p.m. New York City time or Local Time, as the case may be, on the date of the requested borrowing of Revolving Credit Loans that are LIBOR Loans, CDOR Loans or AUD Rate Loans, the proceeds of such amounts received by the Administrative Agent. No Revolving Credit Lender shall be responsible for the failure of any other Revolving Credit Lender to make a Revolving Credit Loan or to perform any other obligation to be made or performed by such other Revolving Credit Lender hereunder, and the failure of any Revolving Credit Lender to make a Revolving Credit Loan or to perform any other obligation to be made or performed by it hereunder shall not relieve the obligation of any other Revolving Credit Lender to make any Revolving Credit Loan or to perform any other obligation to be made or performed by such other Lender.

Funding of Revolving Credit Loans. Promptly after receipt of a Notice of Borrowing under the immediately preceding subsection (b), the Administrative Agent shall notify each Revolving Credit Lender of the proposed borrowing. Each Revolving Credit Lender shall deposit an amount equal to the Revolving Credit Loan to be made by such Revolving Credit Lender to the applicable Borrower with the Administrative Agent (i) in the case of Revolving Credit Loans denominated in Dollars, at the Principal Office, in immediately available funds not later than 1:00 2:00 p.m. New York City time on the date of such proposed Revolving Credit Loans that are Base Rate Loans or Daily Simple SOFR Loans, and (ii) in the case of each Revolving Credit Loan denominated in a Foreign Currency, at the Multicurrency Payment Office for such currency, in immediately available funds not later than 11:00 a.m., Local Time 10:00 a.m. on the date of such proposed Revolving Credit Loans that are Term SOFR Loans. Subject to fulfillment of all applicable conditions set forth herein, the Administrative Agent shall make available to the applicable Borrower in the account specified in its the Disbursement Instruction Agreement, not later than 2:00 4:00 p.m. New York City time or Local Time, as the case may be, on the date of the requested borrowing of Revolving Credit Loans that are Base Rate Loans or Daily Simple SOFR Loans and not later than 1:00 p.m. New York City time or Local Time, as the case may be, on the date of the requested borrowing of Revolving Credit Loans that are LIBOR Loans, CDOR Loans or AUD Rate Term SOFR Loans, the proceeds of such amounts received by the Administrative Agent. No Revolving Credit Lender shall be responsible for the failure of any other Revolving Credit Lender to make a Revolving Credit Loan or to perform any other obligation to be made or performed by such other Revolving Credit Lender hereunder, and the failure of any Revolving Credit Lender to make a Revolving Credit Loan or to perform any other obligation to be made or performed by it hereunder shall not relieve the obligation of any other Revolving Credit Lender to make any Revolving Credit Loan or to perform any other obligation to be made or performed by such other Lender.

Funding of Revolving Credit Loans. Promptly after receipt (a) Until such time as the Borrowers shall have established a Controlled Disbursements Account with the Agent, to request the funding of a Notice of Borrowing under the immediately preceding subsection (b)any Revolving Credit Loans hereunder, the Administrative Borrowers' Agent shall notify each deliver to the Agent notice in accordance with Section 2.11 setting forth the amount of the requested Revolving Credit Lender of the proposed borrowing. Each Revolving Credit Lender shall deposit an amount equal to the Revolving Credit Loan Loans to be made by funded, the Availability as set forth in the most recent Borrowing Base Certificate delivered to Agent, whether such Revolving Credit Lender Loans are to the applicable Borrower with the Administrative Agent (i) in the case of be Base Rate Loans or Eurodollar Loans and, if such Revolving Credit Loans denominated in Dollarsare to be Eurodollar Loans, at the Principal Office, in immediately available funds not later than 1:00 p.m. New York City time on the date respective Eurodollar Interest Period for such Eurodollar Loans. Following receipt of such proposed Revolving Credit Loans and (ii) in the case of each Revolving Credit Loan denominated in a Foreign Currency, at the Multicurrency Payment Office for such currency, in immediately available funds not later than 11:00 a.m., Local Time on the date of such proposed Revolving Credit Loans. Subject to fulfillment of all applicable conditions set forth hereinnotice, the Administrative Agent shall make available to the applicable Borrower in the account specified in its Disbursement Instruction Agreementshall, not later than 2:00 p.m. New York, New York City time or Local Time, as the case may betime, on (i) the date of the requested borrowing of same Banking Day that such notice is given, if such Revolving Credit Loans are to be Base Rate Loans, or (ii) on the third Banking Day after such notice is given, if such Revolving Credit Loans are to be Eurodollar Loans, subject to the conditions of this Agreement, make available to the Borrowers by a credit to an account of the Borrowers maintained at the Agent the amount of such requested Revolving Credit Loans. The Revolving Credit Loans shall be deemed to be made by each Lender and to be outstanding to each Lender under the Revolving Credit Note issued to such Lender as of the date that are such credit is made available to the Borrowers without regard to the settlement procedures between the Agent and the Lenders pursuant to Section 2.14. (b) After such time as the Borrowers shall have established a Controlled Disbursements Account with the Agent, not later than 2:00 p.m., New York, New York time, on each Banking Day, the Agent shall, subject to the conditions of this Agreement (but without any further written notice required), make available to the Borrowers by a credit to an account of the Borrowers maintained at the Agent the proceeds of Base Rate Revolving Credit Loans to the extent necessary to pay items to be drawn on the Controlled Disbursements Account that day after giving effect to all Available Funds to be deposited to the Controlled Disbursements Account on that day. All other Revolving Credit Loans and all requests for the making of Eurodollar Loans, or for the conversion of Base Rate Loans and not later than 1:00 p.m. New York City time or Local Timeinto Eurodollar Loans, as the case may be, on the date of the requested borrowing of shall be made upon notice given in accordance with Section 2.11. The Revolving Credit Loans that are LIBOR Loans, CDOR Loans or AUD Rate Loans, the proceeds of such amounts received by the Administrative Agent. No Revolving Credit Lender shall be responsible for the failure of any other Revolving Credit Lender to make a Revolving Credit Loan or to perform any other obligation deemed to be made or performed by such other each Lender and to be outstanding to each Lender under the Revolving Credit Note issued to such Lender hereunder, as of the date that such credit is made available to the Borrowers without regard to the settlement procedures between the Agent and the failure of any Revolving Credit Lender Lenders pursuant to make a Revolving Credit Loan or to perform any other obligation to be made or performed by it hereunder shall not relieve the obligation of any other Revolving Credit Lender to make any Revolving Credit Loan or to perform any other obligation to be made or performed by such other LenderSection 2.13.

Funding of Revolving Credit Loans. Promptly after receipt (a) Until such time as the Borrowers shall have established a Controlled Disbursements Account with the Agent, to request the funding of a Notice of Borrowing under the immediately preceding subsection (b)any Revolving Credit Loans hereunder, the Administrative Borrowers' Agent shall notify each deliver to the Agent notice in accordance with Section 2.11 setting forth the amount of the requested Revolving Credit Lender of the proposed borrowing. Each Revolving Credit Lender shall deposit an amount equal to the Revolving Credit Loan Loans to be made by funded, the Collateral Availability as set forth in the most recent Borrowing Base Certificate delivered to Agent, whether such Revolving Credit Lender Loans are to the applicable Borrower with the Administrative Agent (i) in the case of be Base Rate Loans or Eurodollar Loans and, if such Revolving Credit Loans denominated in Dollarsare to be Eurodollar Loans, at the Principal Office, in immediately available funds not later than 1:00 p.m. New York City time on the date respective Eurodollar Interest Period for such Eurodollar Loans. Following receipt of such proposed Revolving Credit Loans and (ii) in the case of each Revolving Credit Loan denominated in a Foreign Currency, at the Multicurrency Payment Office for such currency, in immediately available funds not later than 11:00 a.m., Local Time on the date of such proposed Revolving Credit Loans. Subject to fulfillment of all applicable conditions set forth hereinnotice, the Administrative Agent shall make available to the applicable Borrower in the account specified in its Disbursement Instruction Agreementshall, not later than 2:00 p.m. New York City time or Local Timeon (i) the same Banking Day that such notice is given, as the case may be, on the date of the requested borrowing of if such Revolving Credit Loans are to be Base Rate Loans, or (ii) on the third Banking Day after such notice is given, if such Revolving Credit Loans are to be Eurodollar Loans, subject to the conditions of this Agreement, make available to the Borrowers by a credit to an account of the Borrowers maintained at the Agent the amount of such requested Revolving Credit Loans. The Revolving Credit Loans shall be deemed to be made by each Lender and to be outstanding to each Lender under the Note issued to such Lender as of the date that are such credit is made available to the Borrowers without regard to the settlement procedures between the Agent and the Lenders pursuant to Section 2.14. (b) After such time as the Borrowers shall have established a Controlled Disbursements Account with the Agent, not later than 2:00 p.m. on each Banking Day, the Agent shall, subject to the conditions of this Agreement (but without any further written notice required), make available to the Borrowers by a credit to an account of the Borrowers maintained at the Agent the proceeds of Base Rate Loans and not later than 1:00 p.m. New York City time or Local Time, as to the case may be, extent necessary to pay items to be drawn on the date of Controlled Disbursements Account that day after giving effect to all Available Funds to be deposited to the requested borrowing of Collateral Account on that day. All other Revolving Credit Loans that are LIBOR and all requests for the making of Eurodollar Loans, CDOR or for the conversion of Base Rate Loans or AUD Rate into HUTTIG CREDIT AGREEMENT Eurodollar Loans, the proceeds of such amounts received by the Administrative Agentshall be made upon notice given in accordance with Section 2.11. No The Revolving Credit Lender Loans shall be responsible for the failure of any other Revolving Credit Lender to make a Revolving Credit Loan or to perform any other obligation deemed to be made or performed by each Lender and to be outstanding to each Lender under the Note issued to such other Revolving Credit Lender hereunder, as of the date that such credit is made available to the Borrowers without regard to the settlement procedures between the Agent and the failure of any Revolving Credit Lender Lenders pursuant to make a Revolving Credit Loan or to perform any other obligation to be made or performed by it hereunder shall not relieve the obligation of any other Revolving Credit Lender to make any Revolving Credit Loan or to perform any other obligation to be made or performed by such other LenderSection 2.14.