Common use of Funding of Term Loans Clause in Contracts

Funding of Term Loans. Promptly after receipt of a Notice of Term Loan Borrowing under the immediately preceding subsection (b), the Administrative Agent shall notify each Term Loan Lender of the proposed borrowing. Each Term Loan Lender shall deposit an amount equal to the Term Loan to be made by such Term Loan Lender to the Borrower with the Administrative Agent at the Principal Office, in immediately available funds not later than 2:00 p.m. Central Time on the date of such proposed Term Loans. Subject to fulfillment of all applicable conditions set forth herein, the Administrative Agent shall make available to the Borrower in the account specified by the Borrower in the Disbursement Instruction Agreement, not later than 4:00 p.m. Central Time on the date of the requested borrowing of Term Loans, the proceeds of such amounts received by the Administrative Agent.

Appears in 1 contract

Samples: Credit Agreement (American Homes 4 Rent)

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Funding of Term Loans. Promptly after receipt of a the Notice of Term Loan Borrowing under the immediately preceding subsection (bd), the Administrative Agent shall notify each Term 1 Loan Lender and ​ Term 2 Loan Lender of the proposed borrowing. Each Term 1 Loan Lender and each Term 2 Loan Lender shall deposit an amount equal to the Term 1 Loan and/or Term 2 Loan to be made by such Term Loan Lender to the Borrower with the Administrative Agent at the Principal Office, in immediately available funds not later than 2:00 p.m. 10:00 a.m. Central Time time on the date of such proposed Term LoansEffective Date. Subject to fulfillment of all applicable conditions set forth herein, the Administrative Agent shall make available to the Borrower in the account specified by the Borrower in the Disbursement Instruction Agreement, not later than 4:00 2:00 p.m. Central Time time on the date of the requested borrowing of Term 1 Loans and Term 2 Loans, the proceeds of such amounts received by the Administrative Agent.

Appears in 1 contract

Samples: Credit Agreement (Sunstone Hotel Investors, Inc.)

Funding of Term Loans. Promptly after receipt of a Notice of Term Loan Borrowing under the immediately preceding subsection (b), the Administrative Agent shall notify each Term Loan Lender of the proposed borrowing. Each Term Loan Lender shall deposit an amount equal to the Term Loan to be made by such Term Loan Lender to the Borrower with the Administrative Agent at the Principal Office, in immediately available funds not later than 2:00 p.m. Central Time time on the date of such proposed Term Loans. Subject to fulfillment of all applicable conditions set forth herein, the Administrative Agent shall make available to the Borrower in the account specified by the Borrower in the Disbursement Instruction Agreement, not later than 4:00 p.m. Central Time time on the date of the requested borrowing of Term Loans, the proceeds of such amounts received by the Administrative Agent.

Appears in 1 contract

Samples: Credit Agreement (American Homes 4 Rent)

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Funding of Term Loans. Promptly after receipt of a Notice of Term Loan Loans Borrowing under the immediately preceding subsection (b), the Administrative Agent shall notify each applicable Term Loan Lender of the proposed borrowing. Each Term Loan Lender with respect to the applicable Class of Term Loans shall deposit an amount equal to the Term Loan to be made by such Term Loan Lender to the Borrower with the Administrative Agent at the Principal Office, in immediately available funds funds, not later than 2:00 p.m. Central Time Eastern time on the date of such proposed Term Loans. Subject to fulfillment of all applicable conditions set forth herein, the Administrative Agent shall make available to the Borrower in the account specified by the Borrower in the Disbursement Instruction Agreementapplicable Notice of Term Loans Borrowing, not later than 4:00 3:00 p.m. Central Time Eastern time on the date of the requested borrowing of such proposed Term Loans, the proceeds of such amounts received by the Administrative Agent. The Borrower may not reborrow any portion of the Term Loans once repaid.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Broadstone Net Lease, Inc.)

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