Common use of Funding of Revolving Loans Clause in Contracts

Funding of Revolving Loans. No later than 2:00 p.m. in the case of LIBOR Loans and 3:00 p.m. in the case of Base Rate Loans, in each case, on the date specified in each Notice of Revolving Borrowing, if the applicable conditions precedent listed in Article III have been satisfied or waived and to the extent Administrative Agent shall have received the appropriate funds from the Lenders, Administrative Agent shall make available the Revolving Loans requested in such Notice of Revolving Borrowing in Dollars and in immediately available funds, at Administrative Agent’s Office, and shall transfer such funds to the bank account(s) specified by Borrower in the Notice of Revolving Borrowing delivered in respect of such Borrowing.

Appears in 6 contracts

Samples: Credit Agreement (Tampa Electric Co), Credit Agreement (Tampa Electric Co), Credit Agreement (Tampa Electric Co)

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Funding of Revolving Loans. No later than 2:00 p.m. in the case of LIBOR Loans and 3:00 p.m. in the case of Base Rate ABR Loans, in each case, on the date specified in each Notice of Revolving Borrowing, if the applicable conditions precedent listed in Article III have been satisfied or waived and to the extent Administrative Agent shall have received the appropriate funds from the Lenders, Administrative Agent shall make available the Revolving Loans requested in such Notice of Revolving Borrowing in Dollars and in immediately available funds, at Administrative Agent’s Office, and shall transfer such funds to the bank account(s) specified by Borrower in the Notice of Revolving Borrowing delivered in respect of such Borrowing.

Appears in 2 contracts

Samples: Credit Agreement (Tampa Electric Co), Credit Agreement (Teco Energy Inc)

Funding of Revolving Loans. No later than 2:00 p.m. in the case of LIBOR Loans and 3:00 p.m. in the case of Base Rate Loans, in each casecasePromptly, on the date specified in each Notice of Revolving Borrowing, if the applicable conditions precedent listed in Article III have been satisfied or waived and to the extent Administrative Agent shall have received the appropriate funds from the Lenders, Administrative Agent shall make available the Revolving Loans requested in such Notice of Revolving Borrowing in Dollars and in immediately available funds, at Administrative Agent’s Office, and shall transfer such funds to the bank account(s) specified by Borrower in the Notice of Revolving Borrowing delivered in respect of such Borrowing.

Appears in 1 contract

Samples: Credit Agreement (Tampa Electric Co)

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Funding of Revolving Loans. No later than 2:00 p.m. in the case of LIBOR SOFR Loans and 3:00 p.m. in the case of Base Rate Loans, in each case, on the date specified in each Notice of Revolving Borrowing, if the applicable conditions precedent listed in Article III have been satisfied or waived and to the extent Administrative Agent shall have received the appropriate funds from the Lenders, Administrative Agent shall make available the Revolving Loans requested in such Notice of Revolving Borrowing in Dollars and in immediately available funds, at Administrative Agent’s Office, and shall transfer such funds to the bank account(s) specified by Borrower in the Notice of Revolving Borrowing delivered in respect of such Borrowing.

Appears in 1 contract

Samples: Credit Agreement (Tampa Electric Co)

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