Common use of Funding of Revolving Credit Loans Clause in Contracts

Funding of Revolving Credit Loans. Upon receipt of each Borrowing Request from the Borrower, the Administrative Agent shall promptly notify each Lender of the contents thereof. Subject to its receipt of the notice referred to in the preceding sentence, each Lender will make the amount of its Commitment Percentage of each borrowing of Revolving Credit Loans pursuant to this Section available to the Administrative Agent for the account of the Borrower at the office of the Administrative Agent set forth in Section 11.2 not later than 11:00 a.m. on the relevant Borrowing Date requested by the Borrower in funds immediately available to the Administrative Agent at such office. The amounts so made available to the Administrative Agent on the Borrowing Date will then, subject to the satisfaction of the terms and conditions of this Agreement, as determined by the Administrative Agent, be made available on such date to the Borrower by the Administrative Agent at the office of the Administrative Agent specified in Section 11.2 by crediting the account of the Borrower on the books of such office with the aggregate of said amounts received by the Administrative Agent, provided that Revolving Credit Loans made to finance the reimbursement of a payment made by the Issuing Lender pursuant to a Letter of Credit as provided in Section 2.5 shall be remitted by the Administrative Agent to the Issuing Lender.

Appears in 4 contracts

Samples: Revolving Credit Agreement (Centro NP LLC), Revolving Credit Agreement (Centro NP LLC), Revolving Credit Agreement (New Plan Excel Realty Trust Inc)

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Funding of Revolving Credit Loans. Upon receipt of each Borrowing Request from the Borrowerrequesting Revolving Credit Loans, the Administrative Agent shall promptly notify each Lender of the contents amount (and currency) thereof. Subject to its receipt of the notice referred to in the preceding sentence, each Lender will make the amount of its Commitment Percentage of each borrowing of the requested Revolving Credit Loans pursuant to this Section available to the Administrative Agent for the account of the Borrower at the office of the Administrative Agent set forth in Section 11.2 not later than 11:00 a.m. 2:00 p.m., on the relevant Borrowing Date requested by the Borrower Borrower, in funds immediately available funds denominated in the applicable currency to the Administrative Agent at such office. The amounts so made available to the Administrative Agent on the such Borrowing Date will then, subject to the satisfaction of the terms and conditions of this Agreement, as determined by the Administrative AgentSection 5.2, be promptly made available on such date to the Borrower by the Administrative Agent at the office of the Administrative Agent specified in Section 11.2 by crediting the account of the Borrower on the books of at such office with or elsewhere as the aggregate of said amounts received by Borrower may from time to time instruct the Administrative AgentAgent in writing, provided that Revolving Credit Loans made to finance the reimbursement of a payment made by the Issuing Lender pursuant to a Letter of Credit an LC Disbursement as provided in Section 2.5 2.11(b) shall be remitted by the Administrative Agent to the relevant Issuing Bank, provided further that Revolving Credit Loans made to finance the repayment of a Swing Line Loan as provided in Section 2.3(c) shall be remitted by the Administrative Agent to Applicable Swing Line Lender.

Appears in 2 contracts

Samples: Credit Agreement (KOHLS Corp), Credit Agreement (KOHLS Corp)

Funding of Revolving Credit Loans. Upon receipt of each Borrowing Request from the Borrowerrequesting Revolving Credit Loans, the Administrative Agent shall promptly notify each Lender of the contents amount (and currency) thereof. Subject to its receipt of the notice referred to in the preceding sentence, each Lender will make the amount of its Commitment Percentage of each borrowing of the requested Revolving Credit Loans pursuant to this Section available to the Administrative Agent for the account of the Borrower at the office of the Administrative Agent set forth in Section 11.2 Agent’s Office not later than 11:00 a.m. 2:00 p.m., on the relevant Borrowing Date requested by the Borrower Borrower, in funds immediately available funds denominated in the applicable currency to the Administrative Agent at such officeAgent’s Office. The amounts so made available to the Administrative Agent on the such Borrowing Date will then, subject to the satisfaction of the terms and conditions of this Agreement, as determined by the Administrative AgentSection 5.2, be promptly made available on such date to the Borrower by the Administrative Agent at the office of the Administrative Agent specified in Section 11.2 Agent’s Office by crediting the account of the Borrower on the books of at such office with or elsewhere as the aggregate of said amounts received by Borrower may from time to time instruct the Administrative AgentAgent in writing, provided that Revolving Credit Loans made to finance the reimbursement of a payment made by the Issuing Lender pursuant to a Letter of Credit an L/C Disbursement as provided in Section 2.5 2.11(b) shall be remitted by the Administrative Agent to the relevant Issuing Bank, provided further that Revolving Credit Loans made to finance the repayment of a Swing Line Loan as provided in Section 2.3(c) shall be remitted by the Administrative Agent to Applicable Swing Line Lender.

Appears in 1 contract

Samples: Credit Agreement (KOHLS Corp)

Funding of Revolving Credit Loans. Upon receipt of each Borrowing Request from the Borrowerrequesting Revolving Credit Loans, the Administrative Agent shall promptly notify each Lender of the contents thereof. Subject to its receipt of the notice referred to in the preceding sentence, each Lender will make the amount of its Commitment Percentage of each borrowing of the requested Revolving Credit Loans pursuant to this Section available to the Administrative Agent for the account of the Borrower at the office of the Administrative Agent set forth in Section 11.2 not later than 11:00 a.m. 2:00 p.m., on the relevant Borrowing Date requested by the Borrower Borrower, in funds immediately available to the Administrative Agent at such office. The amounts so made available to the Administrative Agent on the such Borrowing Date will then, subject to the satisfaction of the terms and conditions of this Agreement, as determined by the Administrative AgentSection 5.2, be promptly made available on such date to the Borrower by the Administrative Agent at the office of the Administrative Agent specified in Section 11.2 by crediting the account of the Borrower on the books of at such office with or elsewhere as the aggregate of said amounts received by Borrower may from time to time instruct the Administrative AgentAgent in writing, provided that Revolving Credit Loans made to finance the reimbursement of a payment made by the Issuing Lender pursuant to a Letter of Credit an LC Disbursement as provided in Section 2.5 2.11(b) shall be remitted by the Administrative Agent to the relevant Issuing Bank, provided further that Revolving Credit Loans made to finance the repayment of a Swing Line Loan as provided in Section 2.3(c) shall be remitted by the Administrative Agent to the Swing Line Lender.

Appears in 1 contract

Samples: Credit Agreement (Kohls Corporation)

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Funding of Revolving Credit Loans. Upon receipt of each Borrowing Request from the Borrower, the Administrative Agent shall promptly notify each Lender of the contents thereof. Subject to its receipt of the notice referred to in the preceding sentence, each Lender will make the amount of its Commitment Percentage of each borrowing of Revolving Credit Loans pursuant to this Section available to the Administrative Agent for the account of the Borrower at the office of the Administrative Agent set forth in Section 11.2 not later than 11:00 a.m. 1:30 P.M. on the relevant Borrowing Date requested by the Borrower in funds immediately available to the Administrative Agent at such office. The amounts so made available to the Administrative Agent on the Borrowing Date will then, subject to the satisfaction of the terms and conditions of this Agreement, as determined by the Administrative Agent, be made available on such date to the Borrower by the Administrative Agent at the office of the Administrative Agent specified in Section 11.2 by crediting the account of the Borrower on the books of such office with the aggregate of said amounts received by the Administrative Agent, provided that Revolving Credit Loans made to finance the reimbursement of a payment made by the Issuing Lender pursuant to a Letter of Credit as provided in Section 2.5 shall be remitted by the Administrative Agent to the Issuing Lender.

Appears in 1 contract

Samples: Revolving Credit Agreement (New Plan Excel Realty Trust Inc)

Funding of Revolving Credit Loans. Upon receipt of each Borrowing Request notice of borrowing from the Borrower, the Administrative Agent shall promptly notify each Lender of the contents thereof. Subject to its receipt of the notice referred to in the preceding sentence, each Lender will make the amount of its Commitment Percentage of each borrowing of Revolving Credit Loans pursuant to this Section available to the Administrative Agent for the account of the Borrower at the office of the Administrative Agent set forth in Section 11.2 not later than 11:00 a.m. 12:30 P.M. on the relevant Borrowing Date requested by the Borrower in funds immediately available to the Administrative Agent at such office. The amounts so made available to the Administrative Agent on the Borrowing Date will then, subject to the satisfaction of the terms and conditions of this Agreement, as determined by the Administrative Agent, be made available on such date to the Borrower by the Administrative Agent at the office of the Administrative Agent specified in Section 11.2 by crediting the account of the Borrower on the books of such office with the aggregate of said amounts received by the Administrative Agent, provided that Revolving Credit Loans made to finance the reimbursement of a payment made by the Issuing Lender pursuant to a Letter of Credit an LC Disbursement as provided in Section 2.5 2.9 shall be remitted by the Administrative Agent to the Issuing LenderBank.

Appears in 1 contract

Samples: Credit Agreement (New Plan Excel Realty Trust Inc)

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