Funding Reliance, etc. Unless the Agent shall have been notified by telephone, confirmed in writing, by any Lender by (i) 5:00 p.m., United States Central time, on the day prior to a Borrowing in the case of LIBO Rate Loans and (ii) 12:00 Noon United States Central time on the day of any Borrowing in the case of Base Rate Loans that such Lender will not make available the amount which would constitute its Percentage of such Borrowing on the date specified therefor, the Agent may assume that such Lender has made such amount available to the Agent and, in reliance upon such assumption, make available to the Borrower a corresponding amount. If and to the extent that such Lender shall not have made such amount available to the Agent, such Lender and the Borrower severally agree to repay the Agent forthwith on demand such corresponding amount together with interest thereon, for each day from the date the Agent made such amount available to the Borrower to the date such amount is repaid to the Agent, at the interest rate applicable at the time to Loans comprising such Borrowing.
Appears in 3 contracts
Samples: Credit Agreement (Vintage Petroleum Inc), Credit Agreement (Vintage Petroleum Inc), Credit Agreement (Vintage Petroleum Inc)
Funding Reliance, etc. Unless the Agent shall have been notified by telephone, confirmed in writing, by any Lender by (i) 5:00 p.m., United States Central New York City time, on the day prior to a Borrowing by any Lender that is to participate in the case of LIBO Rate Loans and (ii) 12:00 Noon United States Central time on the day of any such Borrowing in the case of Base Rate Loans that such Lender will not make available the amount which would constitute its Percentage portion of such Borrowing on the date specified therefor, the Agent may assume that such Lender has made such amount available to the Agent and, in reliance upon such assumption, make available to the Borrower a corresponding amount. If and to the extent that such Lender shall not have made such amount available to the Agent, such Lender and the Borrower severally agree to repay the Agent forthwith on demand such corresponding amount together with interest thereon, for each day from the date the Agent made such amount available to the Borrower to the date such amount is repaid to the Agent, at at, in the case of the Borrower, the interest rate applicable at the time to Loans comprising such Borrowing, and, in the case of such Lender, the Federal Funds Effective Rate.
Appears in 2 contracts
Samples: Credit Agreement (Adt Limited), Credit Agreement (Adt Limited)
Funding Reliance, etc. Unless the Agent shall have been notified by telephone, confirmed in writing, by any Lender by (i) 5:00 p.m.P.M., United States Central New York time, on the day Business Day prior to a Borrowing with respect to Borrowings in Dollars and by 9:00 A.M., New York time, two Business Days prior to a Borrowing in the case of LIBO Rate Loans and (ii) 12:00 Noon United States Central time on the day of any Borrowing in the case of Base Rate Loans other currency that such Lender will not make available the amount which would constitute its Percentage of such Borrowing on the date specified therefor, the Agent may assume that such Lender has made such amount available to the Agent and, in reliance upon such assumption, make available to the applicable Borrower a corresponding amount. If and to the extent that such Lender shall not have made such amount available to the Agent, such Lender and the applicable Borrower severally agree agrees to repay the Agent forthwith on demand such corresponding amount together with interest thereon, for each day from the date the Agent made such amount available to the such Borrower to the date such amount is repaid to the Agent, at the interest rate applicable at the time to Loans comprising such Borrowing.
Appears in 2 contracts
Samples: Credit Agreement (Simpson Industries Inc), Credit Agreement (Simpson Industries Inc)
Funding Reliance, etc. Unless the Agent shall have been notified by telephone, confirmed in writing, by any Lender by (i) 5:00 p.m., United States Central New York time, on the day prior to a Borrowing in the case of LIBO Rate Loans and (ii) 12:00 Noon United States Central time on the day of any except with respect to a Borrowing in the case comprised of Base Rate Loans Loans, in which case notice shall be given no later than 12:00 noon, New York time, on the date of the proposed Borrowing) that such Lender will not make available the amount which would constitute its Percentage of such Borrowing on the date specified therefor, the Agent may assume that such Lender has made such amount available to the Agent and, in reliance upon such assumption, make available to the Borrower a corresponding amount. If and to the extent that such Lender shall not have made such amount available to the Agent, such Lender and the Borrower severally agree to repay the Agent forthwith on demand such corresponding amount together with interest thereon, for each day from the date the Agent made such amount available to the Borrower to the date such amount is repaid to the Agent, at the interest rate applicable at the time to Loans comprising such BorrowingFederal Funds Rate.
Appears in 2 contracts
Samples: Credit Agreement (Noble Affiliates Inc), Term Loan Agreement (Noble Energy Inc)
Funding Reliance, etc. Unless the Agent shall have been --------------------- notified by telephone, confirmed in writing, by any Lender by (i) 5:00 p.m., United States Central time, on the day prior to a Borrowing in the case of LIBO Rate Loans and (ii) 12:00 Noon 11:00 a.m. United States Central time on the day of any Borrowing in the case of Base Rate Loans that such Lender will not make available the amount which would constitute its Percentage of such Borrowing on the date specified therefor, the Agent may assume that such Lender has made such amount available to the Agent and, in reliance upon such assumption, make available to the Borrower a corresponding amount. If and to the extent that such Lender shall not have made such amount available to the Agent, such Lender and the Borrower severally agree to repay the Agent forthwith on demand such corresponding amount together with interest thereon, for each day from the date the Agent made such amount available to the Borrower to the date such amount is repaid to the Agent, at the interest rate applicable at the time to Loans comprising such Borrowing.
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Funding Reliance, etc. Unless the Administrative Agent shall have been notified by telephone, confirmed in writing, by any Lender by (i) 5:00 p.m., United States Central timeHouston Time, on the day prior to a Borrowing in the case of LIBO Rate Loans and (ii) 12:00 Noon United States Central time LIBOR Loans, or by 11:00 a.m., Houston Time, on the day of any Borrowing in the case of Base Prime Rate Loans Loans, that such Lender will not make available the amount which would constitute its Percentage of such Borrowing on the date specified therefor, the Administrative Agent may assume that such Lender has made such amount available to the Administrative Agent and, in reliance upon such assumption, make available to the Borrower a corresponding amount. If and to the extent that such Lender shall not have made such amount available to the Administrative Agent, such Lender and the Borrower severally agree to repay the Administrative Agent forthwith on demand such corresponding amount together with interest thereon, for each day from the date the Administrative Agent made such amount available to the Borrower to the date such amount is repaid to the Administrative Agent, at the interest rate applicable Federal Funds Rate at the time to Loans comprising such Borrowingthat time.
Appears in 1 contract
Samples: Credit Agreement (Pogo Producing Co)
Funding Reliance, etc. Unless the Agent shall have been notified by telephone, confirmed in writing, by any Lender by (i) 5:00 p.m., United States Central time, time on the day prior to a Borrowing in the case of LIBO Fixed Rate Loans and (ii) 12:00 Noon United States Loans, or by 11:00 a.m. U.S. Central time on the day of any Borrowing in the case of Base Prime Rate Loans Loans, that such Lender will not make available the amount which would constitute its Percentage of such Borrowing on the date specified therefor, the Agent may assume that such Lender has made such amount available to the Agent and, in reliance upon such assumption, make available to the Borrower a corresponding amount. If and to the extent that such Lender shall not have made such amount available to the Agent, such Lender and the Borrower severally agree to repay the Agent forthwith on demand such corresponding amount together with interest thereon, for each day from the date the Agent made such amount available to the Borrower to the date such amount is repaid to the Agent, at the interest rate applicable Federal Funds Rate at the time to Loans comprising such Borrowingthat time.
Appears in 1 contract
Samples: Credit Agreement (Pogo Producing Co)
Funding Reliance, etc. Unless the Agent shall have been notified by telephone, confirmed in writing, by any Lender by 10:30 a.m., New York time, at least two days prior to a Borrowing (i) 5:00 p.m.in the case of Interbank Rate Loans), United States Central or by 11:30 a.m., New York time, on the day prior to of a Borrowing (in the case of LIBO Reference Rate Loans and (ii) 12:00 Noon United States Central time on the day of any Borrowing in the case of Base Rate Loans Loans), that such Lender will not make available the amount which would constitute its Percentage of such Borrowing on the date specified therefor, the Agent may assume that such Lender has made such amount available to the Agent and, in reliance upon such assumption, make available to the related Borrower a corresponding amount. If and to the extent that such Lender shall not have made such amount available to the Agent, such Lender and the related Borrower severally agree to repay the Agent forthwith on demand such corresponding amount together with interest thereon, for each day from the date the Agent made such amount available to the related Borrower to the date such amount is repaid to the Agent, at the interest rate applicable at the time to Loans comprising such Borrowing.
Appears in 1 contract
Samples: Credit Agreement (Bairnco Corp /De/)
Funding Reliance, etc. Unless the Agent shall have been notified by telephone, confirmed in writing, by any Lender by (i) 5:00 p.m., United States p.m. Central time, on the day prior to a Borrowing in the case of LIBO Rate Loans and (ii) 12:00 Noon United States 11:00 a.m. Central time time, on the day of any Borrowing in the case of Base Rate Loans that such Lender will not make available the amount which would constitute its Percentage of such Borrowing on the date specified therefor, the Administrative Agent may assume that such Lender has made such amount available to the Administrative Agent and, in reliance upon such assumption, make available to the Borrower a corresponding amount. If and to the extent that such Lender shall not have made such amount available to the Administrative Agent, such Lender and the Borrower severally agree to repay the Administrative Agent forthwith on demand such corresponding amount together with interest thereon, for each day from the date the Administrative Agent made such amount available to the Borrower to the date such amount is repaid to the Administrative Agent, at the interest rate applicable at the time to Loans comprising such Borrowing.
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Funding Reliance, etc. Unless the Agent shall have been --------------------- notified by telephone, confirmed in writing, by any Lender by (i) 5:00 p.m., United States Central time, on the day prior to a Borrowing in the case of LIBO Rate Loans and (ii) 12:00 Noon United States Central time on the day of any Borrowing in the case of Base Rate Loans that such Lender will not make available the amount which would constitute its Percentage of such Borrowing on the date specified therefor, the Agent may assume that such Lender has made such amount available to the Agent and, in reliance upon such assumption, make available to the Borrower a corresponding amount. If and to the extent that such Lender shall not have made such amount available to the Agent, such Lender and the Borrower severally agree to repay the Agent forthwith on demand such corresponding amount together with interest thereon, for each day from the date the Agent made such amount available to the Borrower to the date such amount is repaid to the Agent, at the interest rate applicable at the time to Loans comprising such Borrowing.
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Funding Reliance, etc. Unless the Administrative Agent shall have been notified by telephone, confirmed in writing, by any Lender by (i) 5:00 p.m., United States Central timeTime, on the day prior to a Borrowing in the case of LIBO Rate Loans and (ii) 12:00 Noon United States LIBOR Loans, or by 11:00 a.m., Central time Time, on the day of any Borrowing in the case of Base Prime Rate Loans Loans, that such Lender will not make available the amount which would constitute its Percentage of such Borrowing on the date specified therefor, the Administrative Agent may assume that such Lender has made such amount available to the Administrative Agent and, in reliance upon such assumption, make available to the Borrower a corresponding amount. If and to the extent that such Lender shall not have made such amount available to the Administrative Agent, such Lender and the Borrower severally agree to repay the Administrative Agent forthwith on demand such corresponding amount together with interest thereon, for each day from the date the Administrative Agent made such amount available to the Borrower to the date such amount is repaid to the Administrative Agent, at the interest rate applicable Federal Funds Rate at the time to Loans comprising such Borrowingthat time.
Appears in 1 contract
Samples: Credit Agreement (Pogo Producing Co)