Loan Requests. Each request for a Loan (each a "BORROWING NOTICE") shall be in writing by the applicable Borrower, EXCEPT that such Borrower may make an oral request (each an "ORAL REQUEST") PROVIDED THAT each Oral Request shall be followed by a written Borrowing Notice within one business day. Each Borrowing Notice shall specify the following terms ("TERMS") of the requested Loan: (i) the date on which such Loan is to be disbursed, (ii) the principal amount of such Loan, (iii) the Borrower which is borrowing such Loan, (iv) the Fund(s) for whose benefit the Loan is being borrowed and the amount of the Loan which is for the benefit of each such Fund, and (v) the requested maturity date of the Loan. Each Borrowing Notice shall also set forth the total assets of each Fund for whose benefit a portion of the Loan is being borrowed as of the close of business on the day immediately preceding the date of such Borrowing Notice. Borrowing notices shall be delivered to CAPCO by 9:00 a.m. San Antonio, Texas time on the day the Loan is requested to be made. Each Borrowing Notice shall constitute a representation to CAPCO by the applicable Borrower on behalf of the proposed borrowing Fund(s) of such Borrower that all of the representations and warranties made by such Borrower on behalf of the applicable borrowing Fund(s) of such Borrower in SECTION 12 are true and correct as of such date and that no Event of Default or other condition which with the passage of time or giving of notice, or both, would result in an Event of Default, has occurred or is occurring with respect to such borrowing Fund(s).
Appears in 16 contracts
Samples: Facility Agreement (Usaa Mutual Fund Inc), Facility Agreement (Usaa Life Investment Trust), Credit Agreement (Usaa State Tax Free Trust)
Loan Requests. Each request for a Loan (each a "BORROWING NOTICEBorrowing Notice") shall be in writing by the applicable BorrowerBorrower(s), EXCEPT except that such Borrower Borrower(s) may make an oral request (each an "ORAL REQUESTOral Request") PROVIDED THAT provided that each Oral Request shall be followed by a written Borrowing Notice within one business day. Each Borrowing Notice shall specify the following terms ("TERMSTerms") of the requested Loan: (i) the date on which such Loan is to be disbursed, (ii) the principal amount of such Loan, (iii) the Borrower Borrower(s) which is are borrowing such LoanLoan and the amount of such Loan to be borrowed by each Borrower, (iv) the Fund(s) Funds for whose benefit the Loan loan is being borrowed and the amount of the Loan which is for the benefit of each such Fund, and (v) the requested maturity date of the Loan. Each Borrowing Notice shall also set forth the total assets of each Fund for whose benefit a portion of the Loan is being borrowed as of the close of business on the day immediately preceding the date of such Borrowing Notice. Borrowing notices shall be delivered to CAPCO by 9:00 a.m. San Antonio, Texas Antonio time on the day the Loan is requested to be made. Each Borrowing Notice shall constitute a representation to CAPCO by the applicable Borrower on behalf of the proposed borrowing Fund(sBorrower(s) of such Borrower that all of the representations and warranties made by such Borrower on behalf of the applicable borrowing Fund(s) of such Borrower in SECTION Section 12 hereof are true and correct as of such date and that no Event of Default or other condition which with the passage of time or giving of notice, or both, would result in an Event of Default, has occurred or is occurring with respect to such borrowing Fund(s)occurring.
Appears in 9 contracts
Samples: Facility Agreement (Usaa State Tax Free Trust), Facility Agreement (Usaa State Tax Free Trust), Facility Agreement (Usaa Mutual Fund Inc)
Loan Requests. Each request for a Loan (each a "BORROWING NOTICE") shall be in writing by the applicable Borrower, EXCEPT except that such Borrower may make an oral request (each an "ORAL REQUEST") PROVIDED THAT provided that each Oral Request shall be followed by a written Borrowing Notice within one business day. Each Borrowing Notice shall specify the following terms ("TERMS") of the requested Loan: (i) the date on which such Loan is to be disbursed, (ii) the principal amount of such Loan, (iii) the Borrower which is borrowing such Loan, (iv) the Fund(s) for whose benefit the Loan is being borrowed and the amount of the Loan which is for the benefit of each such Fund, (v) whether such Loan shall bear interest based on the Federal Funds Rate or the London Interbank Offered Rate, and (vvi) the requested maturity date of the Loan. Each Borrowing Notice shall also set forth the total assets of each Fund for whose benefit a portion of the Loan is being borrowed as of the close of business on the day immediately preceding the date of such Borrowing Notice. Borrowing notices Notices shall be delivered to CAPCO the Bank by 9:00 a.m. San Antonio, Texas 1:00 p.m. Dallas time on the day the Loan is requested to be mademade if such Loan is to bear interest based on the Federal Funds Rate or by 10:00 a.m. Dallas time on the second business day before the Loan is requested to be made if such Loan is to bear interest based on the London Interbank Offered Rate. Each Borrowing Notice shall constitute a representation to CAPCO the Bank by the applicable Borrower on behalf of the proposed borrowing Fund(s) of such Borrower that all of the representations and warranties made by such Borrower on behalf of the applicable borrowing Fund(s) of such Borrower in SECTION 12 hereof are true and correct as of such date and that no Event of Default or other condition which with the passage of time or giving of notice, or both, would result in an Event of Default, has occurred or is occurring with respect to such proposed borrowing Fund(s).
Appears in 6 contracts
Samples: Facility Agreement (Usaa Tax Exempt Fund Inc), Facility Agreement (Usaa Investment Trust), Facility Agreement (Usaa Mutual Fund Inc)
Loan Requests. Each request for a Loan (each a "BORROWING NOTICEBorrowing Notice") shall be in writing by the applicable BorrowerBorrower(s), EXCEPT except that such Borrower Borrower(s) may make an oral request (each an "ORAL REQUESTOral Request") PROVIDED THAT provided that each Oral Request shall be followed by a written Borrowing Notice within one business day. Each Borrowing Notice shall specify the following terms ("TERMSTerms") of the requested Loan: (i) the date on which such Loan is to be disbursed, (ii) the principal amount of such Loan, (iii) the Borrower Borrower(s) which is are borrowing such LoanLoan and the amount of such Loan to be borrowed by each Borrower, (iv) the Fund(s) Funds for whose benefit the Loan loan is being borrowed and the amount of the Loan which is for the benefit of each such Fund, and (v) the requested maturity date of the Loan. Each Borrowing Notice shall also set forth the total assets of each Fund for whose benefit a portion of the Loan is being borrowed as of the close of business on the day immediately preceding the date of such Borrowing Notice. Borrowing notices shall be delivered to CAPCO by 9:00 a.m. San Antonio, Texas Antonio time on the day the Loan is requested to be made. Each Borrowing Notice shall constitute a representation to CAPCO by the applicable Borrower on behalf of the proposed borrowing Fund(sBorrower(s) of such Borrower that all of the representations and warranties made by such Borrower on behalf of the applicable borrowing Fund(s) of such Borrower in SECTION Section 12 hereof are true and correct as of such date and that no Event of Default or other condition which with the passage of time or giving of notice, or both, would result in an Event of Default, has occurred or is occurring with respect to such borrowing Fund(s)occurring.
Appears in 4 contracts
Samples: Facility Agreement (Usaa Investment Trust), Facility Agreement (Usaa Tax Exempt Fund Inc), Facility Agreement (Usaa State Tax Free Trust)
Loan Requests. Each request for a Loan (each a "BORROWING NOTICE") shall be in writing by the applicable Borrower, EXCEPT except that such Borrower may make an oral request (each an "ORAL REQUEST") PROVIDED THAT provided that each Oral Request shall be followed by a written Borrowing Notice within one business day. Each Borrowing Notice shall specify the following terms ("TERMS") of the requested Loan: (i) the date on which such Loan is to be disbursed, (ii) the principal amount of such Loan, (iii) the Borrower which is borrowing such Loan, Loan (iv) the Fund(s) for whose benefit the Loan is being borrowed and the amount of the Loan which is for the benefit of each such Fund, (v) whether such Loan shall bear interest based on the Federal Funds Rate or the London Interbank Offered Rate, and (vvi) the requested maturity date of the Loan. Each Borrowing Notice shall also set forth the total assets of each Fund for whose benefit a portion of the Loan is being borrowed as of the close of business on the day immediately preceding the date of such Borrowing Notice. Borrowing notices shall be delivered to CAPCO by 9:00 a.m. San Antonio, Texas Antonio time on the day the Loan is requested to be mademade if such Loan is to bear interest based on the Federal Funds Rate or by 10:00 a.m. San Antonio time on the second business day before the Loan is requested to be made if such Loan is to bear interest based on the London Interbank Offered Rate. Each Borrowing Notice shall constitute a representation to CAPCO by the applicable Borrower on behalf of the proposed borrowing Fund(s) of such Borrower that all of the representations and warranties made by such Borrower on behalf of the applicable borrowing Fund(s) of such Borrower in SECTION 12 hereof are true and correct as of such date and that no Event of Default or other condition which with the passage of time or giving of notice, or both, would result in an Event of Default, has occurred or is occurring with respect to such borrowing Fund(s).
Appears in 3 contracts
Samples: Facility Agreement (Usaa Tax Exempt Fund Inc), Facility Agreement (Usaa State Tax Free Trust), Facility Agreement (Usaa Investment Trust)
Loan Requests. Each request for a Loan (each a "BORROWING NOTICE"“Borrowing Notice”) shall be in writing by the applicable Borrower, EXCEPT except that such the Borrower may make an oral request (each an "ORAL REQUEST"“Oral Request”) PROVIDED THAT provided that each Oral Request shall be followed by a written Borrowing Notice within one business day. Each Borrowing Notice shall specify the following terms ("TERMS"“Terms”) of the requested Loan: (i) the date on which such Loan is to be disbursed, (ii) the principal amount of such Loan, (iii) the Borrower which is borrowing such Loan, (iv) the Fund(s) for whose benefit the Loan is being borrowed and the amount of the Loan which is for the benefit of each such Fund, and (v) the requested maturity date of the Loan. Each Borrowing Notice shall also set forth the total assets of each Fund for whose benefit a portion of the Loan is being borrowed as of the close of business on the day immediately preceding the date of such Borrowing Notice. Borrowing notices shall be delivered to CAPCO CapCo by 9:00 a.m. San Antonio, Texas time on the day the Loan is requested to be made. Each Borrowing Notice shall constitute a representation to CAPCO CapCo by the applicable Borrower on behalf of the proposed borrowing Fund(s) of such the Borrower that all of the representations and warranties made by such the Borrower on behalf of the applicable borrowing Fund(s) of such the Borrower in SECTION Section 12 are true and correct as of such date and that no Event of Default or other condition which with the passage of time or giving of notice, or both, would result in an Event of Default, has occurred or is occurring with respect to such borrowing Fund(s).
Appears in 3 contracts
Samples: Facility Agreement (Usaa Mutual Funds Trust), Facility Agreement (Usaa Mutual Funds Trust), Facility Agreement (Usaa Mutual Funds Trust)
Loan Requests. Each request for a Loan (each a "BORROWING NOTICE") shall be in writing by the applicable Borrower, EXCEPT that such the Borrower may make an oral request (each an "ORAL REQUEST") PROVIDED THAT each Oral Request shall be followed by a written Borrowing Notice within one business day. Each Borrowing Notice shall specify the following terms ("TERMS") of the requested Loan: (i) the date on which such Loan is to be disbursed, (ii) the principal amount of such Loan, (iii) the Borrower which is borrowing such Loan, (iv) the Fund(s) for whose benefit the Loan is being borrowed and the amount of the Loan which is for the benefit of each such Fund, and (v) the requested maturity date of the Loan. Each Borrowing Notice shall also set forth the total assets of each Fund for whose benefit a portion of the Loan is being borrowed as of the close of business on the day immediately preceding the date of such Borrowing Notice. Borrowing notices shall be delivered to CAPCO by 9:00 a.m. San Antonio, Texas time on the day the Loan is requested to be made. Each Borrowing Notice shall constitute a representation to CAPCO by the applicable Borrower on behalf of the proposed borrowing Fund(s) of such the Borrower that all of the representations and warranties made by such the Borrower on behalf of the applicable borrowing Fund(s) of such the Borrower in SECTION 12 are true and correct as of such date and that no Event of Default or other condition which with the passage of time or giving of notice, or both, would result in an Event of Default, has occurred or is occurring with respect to such borrowing Fund(s).
Appears in 3 contracts
Samples: Facility Agreement (Usaa Mutual Funds Trust), Facility Agreement (Usaa Mutual Funds Trust), Facility Agreement (Usaa Mutual Funds Trust)
Loan Requests. Each request for a Loan (each a "BORROWING NOTICE"“Borrowing Notice”) shall be in writing by the applicable Borrower, EXCEPT except that such the Borrower may make an oral request (each an "ORAL REQUEST"“Oral Request”) PROVIDED THAT to theVice President, Corporate Treasurer of USAA as listed on Exhibit D provided that each Oral Request shall be followed by a written Borrowing Notice within one business day. Each Borrowing Notice shall specify the following terms ("TERMS"“Terms”) of the requested Loan: (i) the date on which such Loan is to be disbursed, (ii) the principal amount of such Loan, (iii) the Borrower which is borrowing such Loan, (iv) the Fund(s) for whose benefit the Loan is being borrowed and the amount of the Loan which is for the benefit of each such Fund, and (v) the requested maturity date of the Loan. Each Borrowing Notice shall also set forth the total assets of each Fund for whose benefit a portion of the Loan is being borrowed as of the close of business on the day immediately preceding the date of such Borrowing Notice. Borrowing notices shall be delivered to CAPCO CapCo by 9:00 a.m. San Antonio, Texas time on the day the Loan is requested to be made. Each Borrowing Notice shall constitute a representation to CAPCO CapCo by the applicable Borrower on behalf of the proposed borrowing Fund(s) of such the Borrower that all of the representations and warranties made by such the Borrower on behalf of the applicable borrowing Fund(s) of such the Borrower in SECTION 12 Section 13 are true and correct as of such date and that no Event of Default or other condition which with the passage of time or giving of notice, or both, would result in an Event of Default, has occurred or is occurring with respect to such borrowing Fund(s).
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Loan Requests. Each request for a Loan (each a "BORROWING NOTICEBorrowing Notice") shall be in writing by the applicable Borrower, EXCEPT except that such Borrower may make an oral request (each an "ORAL REQUESTOral Request") PROVIDED THAT provided that each Oral Request shall be followed by a written Borrowing Notice within one business day. Each Borrowing Notice shall specify the following terms ("TERMSTerms") of the requested Loan: (i) the date on which such Loan is to be disbursed, (ii) the principal amount of such Loan, (iii) the Borrower which is borrowing such Loan, Loan (iv) the Fund(s) for whose benefit the Loan is being borrowed and the amount of the Loan which is for the benefit of each such Fund, (v) whether such Loan shall bear interest based on the Federal Funds Rate or the London Interbank Offered Rate, and (vvi) the requested maturity date of the Loan. Each Borrowing Notice shall also set forth the total assets of each Fund for whose benefit a portion of the Loan is being borrowed as of the close of business on the day immediately preceding the date of such Borrowing Notice. Borrowing notices shall be delivered to CAPCO by 9:00 a.m. San Antonio, Texas Antonio time on the day the Loan is requested to be mademade if such Loan is to bear interest based on the Federal Funds Rate or by 10:00 a.m. San Antonio time on the second business day before the Loan is requested to be made if such Loan is to bear interest based on the London Interbank Offered Rate. Each Borrowing Notice shall constitute a representation to CAPCO by the applicable Borrower on behalf of the proposed borrowing Fund(s) of such Borrower that all of the representations and warranties made by such Borrower on behalf of the applicable borrowing Fund(s) of such Borrower in SECTION Section 12 hereof are true and correct as of such date and that no Event of Default or other condition which with the passage of time or giving of notice, or both, would result in an Event of Default, has occurred or is occurring with respect to such borrowing Fund(s).
Appears in 1 contract
Loan Requests. Each request for a Loan (each a "BORROWING NOTICE"“Borrowing Notice”) shall be in writing by the applicable Borrower, EXCEPT except that such the Borrower may make an oral request (each an "ORAL REQUEST"“Oral Request”) PROVIDED THAT provided that each Oral Request shall be followed by a written Borrowing Notice within one business day. Each Borrowing Notice shall specify the following terms ("TERMS"“Terms”) of the requested Loan: (i) the date on which such Loan is to be disbursed, (ii) the principal amount of such Loan, (iii) the Borrower which is borrowing such Loan, (iv) the Fund(s) for whose benefit the Loan is being borrowed and the amount of the Loan which is for the benefit of each such Fund, and (v) the requested maturity date of the Loan. Each Borrowing Notice shall also set forth the total assets of each Fund for whose benefit a portion of the Loan is being borrowed as of the close of business on the day immediately preceding the date of such Borrowing Notice. Borrowing notices shall be delivered to CAPCO by 9:00 a.m. San Antonio, Texas time on the day the Loan is requested to be made. Each Borrowing Notice shall constitute a representation to CAPCO by the applicable Borrower on behalf of the proposed borrowing Fund(s) of such the Borrower that all of the representations and warranties made by such the Borrower on behalf of the applicable borrowing Fund(s) of such the Borrower in SECTION Section 12 are true and correct as of such date and that no Event of Default or other condition which with the passage of time or giving of notice, or both, would result in an Event of Default, has occurred or is occurring with respect to such borrowing Fund(s).
Appears in 1 contract
Loan Requests. Each request for a Loan (each a "BORROWING NOTICE"“Borrowing Notice”) shall be in writing by the applicable Borrower, EXCEPT except that such the Borrower may make an oral request (each an "ORAL REQUEST"“Oral Request”) PROVIDED THAT to the Senior Vice President, Corporate Treasurer of USAA as listed on Exhibit D provided that each Oral Request shall be followed by a written Borrowing Notice within one business day. Each Borrowing Notice shall specify the following terms ("TERMS"“Terms”) of the requested Loan: (i) the date on which such Loan is to be disbursed, (ii) the principal amount of such Loan, (iii) the Borrower which is borrowing such Loan, (iv) the Fund(s) for whose benefit the Loan is being borrowed and the amount of the Loan which is for the benefit of each such Fund, and (v) the requested maturity date of the Loan. Each Borrowing Notice shall also set forth the total assets of each Fund for whose benefit a portion of the Loan is being borrowed as of the close of business on the day immediately preceding the date of such Borrowing Notice. Borrowing notices shall be delivered to CAPCO CapCo by 9:00 a.m. San Antonio, Texas time on the day the Loan is requested to be made. Each Borrowing Notice shall constitute a representation to CAPCO CapCo by the applicable Borrower on behalf of the proposed borrowing Fund(s) of such the Borrower that all of the representations and warranties made by such the Borrower on behalf of the applicable borrowing Fund(s) of such the Borrower in SECTION Section 12 are true and correct as of such date and that no Event of Default or other condition which with the passage of time or giving of notice, or both, would result in an Event of Default, has occurred or is occurring with respect to such borrowing Fund(s).
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