Common use of Fundings by the Lenders Clause in Contracts

Fundings by the Lenders. Each Lender shall timely honor its Revolver Commitment by funding its Pro Rata share of each Borrowing of Revolver Loans that is properly requested hereunder. Except for Borrowings to be made as Swingline Loans, the Agent shall endeavor to notify the Lenders of each Notice of Borrowing (or deemed request for a Borrowing) (i) by 3:00 p.m. (New York City time) on the proposed funding date for U.S. Base Rate Loans, Canadian Prime Loans, Canadian Base Rate Loans (ii) by 1:00 p.m. London Time (GMT) on the proposed funding date for German Base Rate Loans and (iii) by 3:00 p.m. (New York City time) at least two Business Days before any proposed funding of LIBOR Loans or B/A Equivalent Loans. Each Applicable Lender shall fund to the Agent such Lender’s Pro Rata share of the Borrowing to the account specified by the Agent in immediately available funds not later than 5:00 p.m. (New York City time) (or in the case of German Base Rate Loans, 3:00 p.m. London time (GMT)) on the requested funding date. The Agent shall disburse the proceeds of the Revolver Loans as directed by the applicable Borrower. Unless the Agent shall have received (in sufficient time to act) written notice from a Lender that it does not intend to fund its Pro Rata share of a Borrowing, the Agent may assume that such Lender has deposited or promptly will deposit its share with the Agent, and the Agent may disburse a corresponding amount to the Borrowers. If a Lender’s Pro Rata share of any Borrowing or of any settlement pursuant to Section 4.1.3(b) is not received by the Agent, then the applicable Borrowers agree to repay to the Agent on demand the amount of such Pro Rata share, together with interest thereon from the date disbursed until repaid, at the rate applicable to the Borrowing.

Appears in 3 contracts

Samples: Credit and Guaranty Agreement (Milacron Holdings Corp.), Amendment No. 1 (Milacron Holdings Corp.), Amendment Agreement (Milacron Holdings Corp.)

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Fundings by the Lenders. Each Lender shall timely honor its Revolver Revolving Commitment by funding its Pro Rata share of each Borrowing of Revolver Revolving Loans that is properly requested hereunder. Except for Borrowings to be made as Swingline Loans, the The Agent shall endeavor to notify the Lenders of each Notice of Borrowing (or deemed request for a Borrowing) (i) by 3:00 p.m. (New York City time) 12:00 noon on the proposed funding date for U.S. Base Rate Loans, Canadian Prime Loans, Canadian Base Rate Revolving Loans (ii) by 1:00 p.m. London Time (GMT) on the proposed funding date for German Base Rate Loans and (iii) or by 3:00 p.m. (New York City time) at least two Business Days before any proposed funding of LIBOR Loans or B/A Equivalent Revolving Loans. Each Applicable Lender shall fund to the Agent such Lender’s Pro Rata share of the Borrowing to the account specified by the Agent in immediately available funds not later than 5:00 2:00 p.m. (New York City time) (or in the case of German Base Rate Loans, 3:00 p.m. London time (GMT)) on the requested funding date, unless the Agent’s notice is received after the times provided above, in which event each Lender shall fund its Pro Rata share by 11:00 a.m. on the next Business Day. The Subject to its receipt of such amounts from the Lenders, the Agent shall disburse may make the proceeds of the Revolver Revolving Loans as directed available to the Borrowers by disbursing same to the applicable BorrowerDesignated Account. Unless the Agent shall have received (in sufficient time to act) written notice from a Lender that it does not intend to fund its Pro Rata share of a Borrowing, the Agent may assume that such Lender has deposited or promptly will deposit its share with the Agent, and the Agent may disburse a corresponding amount to the Borrowers. If a Lender’s Pro Rata share of any Borrowing or of any settlement pursuant to Section 4.1.3(b) is not in fact received by the Agent, then the applicable Borrowers agree to repay to the Agent on demand the amount of such Pro Rata share, together with interest thereon from the date disbursed until repaid, at the rate applicable to the such Borrowing.

Appears in 2 contracts

Samples: Loan and Security Agreement (Amkor Technology Inc), Loan and Security Agreement (Amkor Technology Inc)

Fundings by the Lenders. Each US Lender shall timely honor its US Revolver Commitment by funding its Pro Rata share of each Borrowing of US Revolver Loans that is properly requested hereunder. Each Canadian Lender shall timely honor its Canadian Revolver Commitment by funding its Pro Rata share of each Borrowing of Canadian Revolver Loans that is properly requested hereunder. Except for Borrowings to be made as Swingline Loans, the Applicable Agent shall endeavor to notify the Lenders of each Notice of Borrowing (or deemed request for a Borrowing) (i) by 3:00 2:00 p.m. (New York City time) on the proposed funding date for U.S. Base Rate Loans, Canadian Prime Loans, Canadian Base Rate Loans (ii) by 1:00 p.m. London Time (GMT) on the proposed funding date for German Base or Canadian Prime Rate Loans and (iii) or by 3:00 p.m. (New York City time) at least two three Business Days before any proposed funding of LIBOR Loans or B/A Equivalent Canadian BA Rate Loans. Each Applicable Lender shall fund to the Applicable Agent such Lender’s Pro Rata share of the Borrowing to the account specified by the such Agent in immediately available funds not later than 5:00 p.m. (New York City time) (or in the case of German Base Rate Loans, 3:00 p.m. London time (GMT)) on the requested funding date, unless such Agent’s notice is received after the times provided above, in which event the Lender shall fund its Pro Rata share by 11:00 a.m. on the next Business Day. The Subject to its receipt of such amounts from the Lenders, the Applicable Agent shall disburse the proceeds of the Revolver Loans as directed by the applicable BorrowerBorrowers. Unless the Applicable Agent shall have received (in sufficient time to act) written notice from a Lender that it does not intend to fund its Pro Rata share of a Borrowing, the such Agent may assume that such Lender has deposited or promptly will deposit its share with the such Agent, and the such Agent may disburse a corresponding amount to the Borrowers. If a Lender’s Pro Rata share of any Borrowing or of any settlement pursuant to Section 4.1.3(b) is not in fact received by the Applicable Agent, then such Lender and the applicable Borrowers agree to repay to the Applicable Agent on demand the amount of such Pro Rata share, together with interest thereon from the date disbursed until repaid, at the rate applicable to such Borrowing. If a Borrower and such Lender shall pay such interest to the Applicable Agent for the same or an overlapping period, the Applicable Agent shall promptly remit to such Borrower the amount of such interest paid by such Borrower for such period. If such Lender pays its share of the applicable Borrowing to the Applicable Agent, then the amount so paid shall constitute such Lender’s Loan included in such Borrowing. Any payment by a Borrower shall be without prejudice to any claim such Borrower may have against a Lender that shall have failed to make such payment to the Applicable Agent.

Appears in 2 contracts

Samples: Revolving Credit and Security Agreement (Birks Group Inc.), Revolving Credit and Security Agreement (Birks & Mayors Inc.)

Fundings by the Lenders. Each US Lender shall timely honor its US Revolver Commitment by funding its Pro Rata share of each Borrowing of US Revolver Loans that is properly requested hereunder. Each Canadian Lender shall timely honor its Canadian Revolver Commitment by funding its Pro Rata share of each Borrowing of Canadian Revolver Loans that is properly requested hereunder. Except for Borrowings to be made as Swingline Loans, the Applicable Agent shall endeavor to notify the Lenders of each Notice of Borrowing (or deemed request for a Borrowing) (i) by 3:00 2:00 p.m. (New York City time) on the proposed funding date for U.S. Base Rate Loans, Canadian Prime Loans, Canadian Base Rate Loans (ii) by 1:00 p.m. London Time (GMT) on the proposed funding date for German Base or Canadian Prime Rate Loans and (iii) or by 3:00 p.m. (New York City time) at least two three Business Days before any proposed funding of LIBOR Loans or B/A Equivalent Canadian BA Rate Loans. Each Applicable Lender shall fund to the Applicable Agent such Lender’s Pro Rata share of the Borrowing to the account specified by the such Agent in immediately available funds not later than 5:00 p.m. (New York City time) (or in the case of German Base Rate Loans, 3:00 p.m. London time (GMT)) on the requested funding date, unless such Agent’s notice is received after the times provided above, in which event the Lender shall fund its Pro Rata share by 11:00 a.m. on the next Business Day. The Subject to its receipt of such amounts from the Lenders, the Applicable Agent shall disburse the proceeds of the Revolver Loans as directed by the applicable BorrowerBorrowers. Unless the Applicable Agent shall have received (in sufficient time to act) written notice from a Lender that it does not intend to fund its Pro Rata share of a Borrowing, the such Agent may assume that such Lender has deposited or promptly will deposit its share with the such Agent, and the such Agent may disburse a corresponding amount to the Borrowers. If a Lender’s Pro Rata share of any Borrowing or of any settlement pursuant to Section 4.1.3(b) is not in fact received by the Applicable Agent, then such Lender and the applicable Borrowers agree to repay to the Applicable Agent on demand the amount of such Pro Rata share, together with interest thereon from the date disbursed until repaid, at the rate applicable to such Borrowing. If a Borrower and such Lender shall pay such interest to the Applicable Agent for the same or an overlapping period, the Applicable Agent shall promptly remit to such Borrower the amount of such interest paid by such Borrower for such period. If such Lender pays its share of the applicable Borrowing to the Applicable Agent, then the amount so paid shall constitute such Lender’s Loan included in such Borrowing. Any payment by a Borrower shall be without prejudice to any claim such Borrower may have against a Lender that shall have failed to make such payment to the Applicable Agent.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Birks Group Inc.)

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Fundings by the Lenders. Each Lender shall timely honor its Revolver Revolving Commitment by funding its Pro Rata share of each Borrowing of Revolver Revolving Loans that is properly requested hereunder. Except for Borrowings to be made as Swingline Loans, the The Agent shall endeavor to notify the Lenders of each Notice of Borrowing (or deemed request for a Borrowing) (i) by 3:00 p.m. (New York City time) 12:00 noon on the proposed funding date for U.S. Base Rate Loans, Canadian Prime Loans, Canadian Base Rate Revolving Loans (ii) by 1:00 p.m. London Time (GMT) on the proposed funding date for German Base Rate Loans and (iii) or by 3:00 p.m. (New York City time) at least two Business Days before any proposed funding of LIBOR Loans or B/A Equivalent Revolving Loans. Each Applicable Lender shall fund to the Agent such Lender’s Pro Rata share of the Borrowing to the account specified by the Agent in immediately available funds not later than 5:00 2:00 p.m. (New York City time) (or in the case of German Base Rate Loans, 3:00 p.m. London time (GMT)) on the requested funding date, unless the Agent’s notice is received after the times provided above, in which event each Lender shall fund its Pro Rata share by 11:00 a.m. on the next Business Day. The Subject to its receipt of such amounts from the Lenders, the Agent shall disburse may make the proceeds of the Revolver Revolving Loans as directed available to the Borrowers by disbursing same to the applicable BorrowerDesignated Account. Unless the Agent shall have received (in sufficient time to act) written notice from a Lender that it does not intend to fund its Pro Rata share of a Borrowing, the Agent may assume that such Lender has deposited or promptly will deposit its share with the Agent, and the Agent may disburse a corresponding amount to the Borrowers. If a Lender’s Pro Rata share of any Borrowing or of any settlement pursuant to Section 4.1.3(b) is not in fact received by the Agent, then the applicable Borrowers agree to repay to the Agent on demand the amount of such Pro Rata share, together with interest thereon from the date disbursed until repaid, at the rate applicable to such Borrowing. A Lender or Issuing Bank may fulfill its obligations under Loan Documents through one or more Lending Offices, and this shall not affect any obligation of Obligors under the BorrowingLoan Documents or with respect to any Obligations.

Appears in 1 contract

Samples: Loan and Security Agreement (Amkor Technology Inc)

Fundings by the Lenders. Each Lender shall timely honor its Revolver Revolving Commitment by funding its Pro Rata share of each Borrowing of Revolver Revolving Loans that is properly requested hereunder. Except for Borrowings to be made as Swingline Loans, the The Agent shall endeavor to notify the Lenders of each Notice of Borrowing (or deemed request for a Borrowing) (i) by 3:00 p.m. (New York City time) 12:00 noon on the proposed funding date for U.S. Base Rate Loans, Canadian Prime Loans, Canadian Base Rate Revolving Loans (ii) by 1:00 p.m. London Time (GMT) on the proposed funding date for German Base Rate Loans and (iii) or by 3:00 p.m. (New York City time) at least two Business Days before any proposed funding of LIBOR Loans or B/A Equivalent Revolving Loans. Each Applicable Lender shall fund to the Agent such Lender’s 's Pro Rata share of the Borrowing to the account specified by the Agent in immediately available funds not later than 5:00 2:00 p.m. (New York City time) (or in the case of German Base Rate Loans, 3:00 p.m. London time (GMT)) on the requested funding date, unless the Agent's notice is received after the times provided above, in which event each Lender shall fund its Pro Rata share by 11:00 a.m. on the next Business Day. The Subject to its receipt of such amounts from the Lenders, the Agent shall disburse may make the proceeds of the Revolver Revolving Loans as directed available to the Borrowers by disbursing same to the applicable BorrowerDesignated Account. Unless the Agent shall have received (in sufficient time to act) written notice from a Lender that it does not intend to fund its Pro Rata share of a Borrowing, the Agent may assume that such Lender has deposited or promptly will deposit its share with the Agent, and the Agent may disburse a corresponding amount to the Borrowers. If a Lender’s Pro Rata 's share of any Borrowing or of any settlement pursuant to Section 4.1.3(b) is not in fact received by the Agent, then the applicable Borrowers agree to repay to the Agent on demand the amount of such Pro Rata share, together with interest thereon from the date disbursed until repaid, at the rate applicable to the such Borrowing.

Appears in 1 contract

Samples: Loan and Security Agreement (Amkor Technology Inc)

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