Loan Requests. (a) Requests for loans and advances under this Agreement or for the continuance or conversion of an interest rate applicable to a Loan may be requested by the Borrowers’ Representative in such manner as may from time to time be reasonably acceptable to the Administrative Agent. (b) Subject to the provisions of this Agreement, the Borrowers’ Representative may request a Loan and elect an interest rate and Interest Period to be applicable to that Loan by giving notice to the Administrative Agent by no later than the following: (i) If such Loan is to be or is to be converted to a Base Margin Loan: By 1:00 PM on the Business Day prior to the Business Day on which the subject Revolving Credit Loan is to be made or is to be so converted. Base Margin Loans requested by the Borrowers’ Representative, other than those resulting from the conversion of a Libor Loan, shall not be less than $100,000.00. (ii) If such Loan is to be, or is to be continued as, or converted to, a Libor Loan: By 1:00 PM three (3) Libor Business Days before the commencement of any new Interest Period or the end of the then applicable Interest Period. Libor Loans and conversions to Libor Loans shall each be not less than $1,000,000.00 and in increments of $100,000.00 in excess of such minimum. (iii) Any Libor Loan which matures while a Default has occurred and is continuing shall be converted, at the option of the Administrative Agent, to a Base Margin Loan notwithstanding any notice from the Borrowers’ Representative that such Loan is to be continued as a Libor Loan. (c) Any request for a Loan or for the continuance or conversion of an interest rate applicable to a Loan which is made after the applicable deadline therefore, as set forth above, shall be deemed to have been made at the opening of business on the then next Business Day or Libor Business Day, as applicable. Each request for a Loan or for the conversion of a Loan shall be made in such manner as may from time to time be acceptable to the Administrative Agent. (d) The Borrowers’ Representative may request that the Administrative Agent cause the issuance by the Issuer of L/C’s for the account of a Borrower as provided in Section 2.20. (e) The Administrative Agent may rely on any request for a loan or advance, or other financial accommodation under the Agreement which the Administrative Agent, in good faith, believes to have been made by a Person duly authorized to act on behalf of the Borrowers’ Representative and may decline to make any such requested loan or advance, or issuance, or to provide any such financial accommodation pending the Administrative Agent’s being furnished with such documentation concerning that Person’s authority to act as reasonably may be satisfactory to the Administrative Agent. (f) A request by the Borrowers’ Representative for a loan or advance, or other financial accommodation under this Agreement shall be irrevocable and shall constitute certification by each Borrower that as of the date of such request, each of the following is true and correct: (i) There has been no material adverse change in the Loan Parties’ financial condition (taken as a whole) from the most recent financial information furnished Administrative Agent or any Lender pursuant to this Agreement. (ii) Each representation, not relating to a specific date, which is made herein or in any of the Loan Documents is then true and correct in all material respects as of and as if made on the date of such request (except (A) to the extent of changes resulting from transactions contemplated or permitted by this Agreement or the other Loan Documents and changes occurring in the ordinary course of business which singly or in the aggregate are not materially adverse and (B) to the extent that such representations and warranties expressly relate to a then earlier date). (iii) Unless accompanied by the Certificate of the Borrowers’ Representative’s Chief Executive Officer, President, or Chief Financial Officer describing (in reasonable detail) the facts and circumstances thereof and the steps (if any) being taken to remedy such condition, no Default has occurred and is continuing. (g) If, at any time or from time to time, a Default shall occur: (i) The Administrative Agent may suspend the Borrowers right to request Loans, SwingLine Loans, or L/Cs immediately, in which event, neither the Administrative Agent nor any Lender shall be obligated during such suspension, to make any loan or advance, or to provide any financial accommodation hereunder or to seek the issuance of any L/C. (ii) The Administrative Agent may suspend the right of the Borrowers’ Representative to request any Libor Loan or to convert any Base Margin Loan to a Libor Loan.
Appears in 3 contracts
Samples: Loan and Security Agreement (Casual Male Retail Group Inc), Loan and Security Agreement (Casual Male Retail Group Inc), Loan and Security Agreement (Casual Male Retail Group Inc)
Loan Requests. (a) Subject to the provisions of this Agreement, a loan or advance under the Revolving Credit duly and timely requested by the Borrower shall be made pursuant hereto, provided that:
(i) Availability will not be exceeded;
(ii) If Aggregate Outstandings exceed $75,000,000, no loans, advances or other financial accommodations shall be made if as a result thereof the Aggregate Outstandings would exceed $100,000,000 until such time as the Lender has completed, and received the results of a commercial finance audit and inventory appraisal in accordance with the provisions of Section 5-10 hereof.
(iii) The Revolving Credit has not been suspended as provided in Section 2-5(h).
(b) Requests for loans and advances under this Agreement or for the continuance or conversion of an interest rate applicable to a Loan Revolving Credit may be requested by the Borrowers’ Representative Borrower in such manner as may from time to time be reasonably acceptable to the Administrative AgentLender.
(bc) Subject to the provisions of this Agreement, the Borrowers’ Representative Borrower may request a Revolving Credit Loan and elect an interest rate and Interest Period to be applicable to that Revolving Credit Loan by giving the Lender notice to the Administrative Agent by no later than the following:
(i) If such Revolving Credit Loan is to be or is to be converted to a Base Margin Rate Loan: By 1:00 PM on the Business Day prior to the Business Day on which the subject Revolving Credit Loan is to be made or is to be so converted. Base Margin Rate Loans requested by the Borrowers’ RepresentativeBorrower, other than those resulting from the conversion of a Libor Eurodollar Loan, shall not be less than $100,000.0010,000.00 (or the then Availability if less than $10,000.00).
(ii) If such Revolving Credit Loan is to beis, or is to be continued as, or converted to, a Libor Eurodollar Loan: By 1:00 PM three two (32) Libor Eurodollar Business Days before the commencement of any new Interest Period or the end of the then applicable Interest Period. Libor Eurodollar Loans and conversions to Libor Eurodollar Loans shall each be not less than $1,000,000.00 and in increments of $100,000.00 1,000,000.00 in excess of such minimum.
(iii) Any Libor Eurodollar Loan which matures while a Default has occurred and Suspension Event is continuing extant shall be converted, at the option of the Administrative Agent, Lender to a Base Margin Rate Loan notwithstanding any notice from the Borrowers’ Representative Borrower that such Loan is to be continued as a Libor Eurodollar Loan.
(cd) Any request for a Revolving Credit Loan or for the continuance or conversion of an interest rate applicable to a Revolving Credit Loan which is made after the applicable deadline thereforetherefor, as set forth above, shall be deemed to have been made at the opening of business on the then next Business Day or Libor Eurodollar Business Day, as applicable. Each request for a Revolving Credit Loan or for the conversion of a Revolving Credit Loan shall be made in such manner as may from time to time be reasonably acceptable to the Administrative Agent.Lender
(de) The Borrowers’ Representative Borrower may request that the Administrative Agent Lender cause the issuance by the Issuer of L/C’s for the account of a the Borrower as provided in Section 2.202-17.
(ef) The Administrative Agent Lender may rely on any request for a loan or advance, or other financial accommodation under the Agreement Revolving Credit which the Administrative AgentLender, in good faith, reasonably believes to have been made by a Person duly authorized to act on behalf of the Borrowers’ Representative Borrower and may decline to make any such requested loan or advance, or issuance, or to provide any such financial accommodation pending the Administrative AgentLender’s being furnished with such documentation concerning that Person’s authority to act as reasonably may be reasonably satisfactory to the Administrative AgentLender.
(fg) A request by the Borrowers’ Representative Borrower for a loan or advance, or other financial accommodation under this Agreement the Revolving Credit shall be irrevocable and shall constitute certification by each the Borrower that as of the date of such request, each of the following is true and correct:
(i) There has been no material adverse change in the Loan Parties’ Borrower’s financial condition (taken as a whole) from the most recent financial information furnished Administrative Agent or any to the Lender pursuant to this Agreement.
(ii) All or a portion of any loan or advance so requested will be set aside by the Borrower to cover all of the Borrower’s obligations for sales tax on account of sales since the then most recent borrowing pursuant to the Revolving Credit.
(iii) Each representation, not relating to a specific date, representation which is made herein or in any of the Loan Documents (defined below) is then true and correct complete in all material respects as of and as if made on the date of such request (except (A) to the extent other than those which are as of changes resulting from transactions contemplated or permitted by this Agreement or the other Loan Documents a specific date, in which case such representation was true and changes occurring complete in the ordinary course all material respects as of business which singly or in the aggregate are not materially adverse and (B) to the extent that such representations and warranties expressly relate to a then earlier date).
(iiiiv) Unless accompanied by the Certificate of the Borrowers’ Representative’s Chief Executive Officer, President, or Chief Financial Officer describing (in reasonable detail) the facts and circumstances thereof and the steps (if any) being taken to remedy such condition, no Default has occurred and No Suspension Event is continuingthen extant.
(gh) IfUpon the occurrence, at any time or and during the continuance, from time to time, a Default shall occurtime of any Suspension Event:
(i) The Administrative Agent Lender may suspend the Borrowers right to request Loans, SwingLine Loans, or L/Cs Revolving Credit immediately, in which event, neither the Administrative Agent nor any .
(ii) The Lender shall not be obligated obligated, during such suspension, to make any loan loans or advance, or to provide any financial accommodation hereunder or to seek the issuance of any L/C.
(iiiii) The Administrative Agent Lender may suspend the right of the Borrowers’ Representative Borrower to request any Libor Eurodollar Loan or to convert any Base Margin Rate Loan to a Libor Eurodollar Loan.
Appears in 2 contracts
Samples: Loan and Security Agreement (Aeropostale Inc), Loan and Security Agreement (Aeropostale Inc)
Loan Requests. (a) Requests for loans and advances under this Agreement Revolving Credit Loans or for the continuance or conversion of an interest rate applicable to a Loan may be requested by the Borrowers’ Representative Lead Borrower in such manner as may from time to time be reasonably acceptable to the Administrative Agent.
(b) Subject to the provisions of this Agreement, the Borrowers’ Representative Lead Borrower may request a Revolving Credit Loan and elect an interest rate and Interest Period to be applicable to that a Loan or continue or convert an interest rate applicable to existing Loans by giving notice to the Administrative Agent by no later than the following:
(i) If such Loan is to be be, or is to be converted to to, a Base Margin Loan: By 1:00 PM on the Boston time one (1) Business Day prior to before the Business Day date on which the subject Revolving Credit Loan is to be made or is to be so converted. Base Margin Loans requested by the Borrowers’ RepresentativeLead Borrower, other than those resulting from the conversion of a Libor Eurodollar Loan, shall not be less than $100,000.00500,000.00.
(ii) If such Loan is to be, or is to be continued as, or converted to, a Libor Eurodollar Loan: By 1:00 PM Boston time three (3) Libor Eurodollar Business Days before the commencement of any new Interest Period or the end of the then applicable Interest Period. Libor Eurodollar Loans and conversions to Libor Eurodollar Loans shall each be not less than $1,000,000.00 and in increments of $100,000.00 1,000,000.00 in excess of such minimum.
(iii) Any Libor Eurodollar Loan which matures while a an Event of Default has occurred and is continuing exists shall be converted, at the option of the Administrative Agent, to a Base Margin Loan notwithstanding any notice from the Borrowers’ Representative Lead Borrower that such Loan is to be continued as a Libor Eurodollar Loan.
(c) Any request for a Revolving Credit Loan or for the continuance or conversion of an interest rate applicable to a Loan which is made after the applicable deadline thereforetherefor, as set forth above, shall be deemed to have been made at the opening of business on the then next Business Day or Libor Eurodollar Business Day, as applicable. Each request for a Loan or for the conversion of a Loan shall be made in such manner as may from time to time be acceptable to the Administrative Agent.
(d) The Borrowers’ Representative Lead Borrower may request that the Administrative Agent cause the issuance by the Issuer of L/C’s Cs for the account of a Borrower the Borrowers as provided in Section 2.202.18.
(e) The Administrative Agent may rely on any request for a loan or advance, Loan or other financial accommodation under the Agreement Revolving Credit which the Administrative Agent, in good faith, believes to have been made by a Person duly authorized to act on behalf of the Borrowers’ Representative Lead Borrower and may decline to make any such requested loan or advance, or issuance, or to provide any such financial accommodation pending the Administrative Agent’s 's being furnished with such documentation concerning that Person’s 's authority to act as reasonably may be satisfactory to the Administrative Agent.
(f) A request by the Borrowers’ Representative Lead Borrower for a loan or advance, or other financial accommodation under this Agreement shall be irrevocable and shall constitute certification by each Borrower Credit Party that as of the date of such request, each of the following is true and correct:
(i) There has been no material adverse change in the Loan Parties’ financial condition (taken as a whole) from the most recent financial information furnished Administrative Agent or any Lender pursuant to this Agreement.
(ii) Each representation, not relating to a specific date, representation which is made herein or in any of the Loan Documents is then true and correct complete in all material respects as of and as if made on the date of such request (except (A) to the extent of changes resulting from transactions contemplated or permitted by this Agreement or the other Loan Documents and changes occurring in the ordinary course of business which singly or in the aggregate are not materially adverse and (B) to the extent for representations that such representations and warranties expressly relate to a then an earlier date, in which case that representation shall have been true on such earlier date).
(iii) Unless accompanied by the Certificate of the Borrowers’ Representative’s Chief Executive Officer, President, or Chief Financial Officer describing (in reasonable detail) the facts and circumstances thereof and the steps (if any) being taken to remedy such condition, no Default has occurred and is continuing.
(g) If, at any time or from time to time, a Default shall occur:
(i) The Administrative Agent may suspend the Borrowers right to request Loans, SwingLine Loans, or L/Cs immediately, in which event, neither the Administrative Agent nor any Lender shall be obligated during such suspension, to make any loan or advance, or to provide any financial accommodation hereunder or to seek the issuance of any L/C.
(ii) The Administrative Agent may suspend the right of the Borrowers’ Representative to request any Libor Loan or to convert any Base Margin Loan to a Libor Loan.
Appears in 2 contracts
Samples: Loan and Security Agreement (Shopko Stores Inc), Loan and Security Agreement (Shopko Stores Inc)
Loan Requests. (a) Requests for loans and advances under this Agreement or for the continuance or conversion of an interest rate applicable to a Revolving Credit Loan may be requested by the Borrowers’ Representative in such manner as may from time to time be reasonably acceptable to the Administrative Agent.
(b) Subject to the provisions of this Agreement, the Borrowers’ Representative may request a Revolving Credit Loan and elect an interest rate and Interest Period to be applicable to that Revolving Credit Loan by giving notice to the Administrative Agent by no later than the following:
(i) If such Revolving Credit Loan is to be or is to be converted to a Base Margin Loan: By 1:00 PM on the Business Day prior to the Business Day on which the subject Revolving Credit Loan is to be made or is to be so converted. Base Margin Loans requested by the Borrowers’ Representative, other than those resulting from the conversion of a Libor Loan, shall not be less than $100,000.00.
(ii) If such Revolving Credit Loan is to be, or is to be continued as, or converted to, a Libor Loan: By 1:00 PM three (3) Libor Business Days before the commencement of any new Interest Period or the end of the then applicable Interest Period. Libor Loans and conversions to Libor Loans shall each be not less than $1,000,000.00 and in increments of $100,000.00 in excess of such minimum.
(iii) Any Libor Loan which matures while a Default has occurred and is continuing shall be converted, at the option of the Administrative Agent, to a Base Margin Loan notwithstanding any notice from the Borrowers’ Representative that such Revolving Credit Loan is to be continued as a Libor Loan.
(c) Any request for a Revolving Credit Loan or for the continuance or conversion of an interest rate applicable to a Revolving Credit Loan which is made after the applicable deadline therefore, as set forth above, shall be deemed to have been made at the opening of business on the then next Business Day or Libor Business Day, as applicable. Each request for a Revolving Credit Loan or for the conversion of a Revolving Credit Loan shall be made in such manner as may from time to time be acceptable to the Administrative Agent.
(d) The Borrowers’ Representative may request that the Administrative Agent cause the issuance by the Issuer of L/C’s for the account of a Borrower as provided in Section 2.202.18.
(e) The Administrative Agent may rely on any request for a loan or advance, or other financial accommodation under the Agreement which the Administrative Agent, in good faith, believes to have been made by a Person duly authorized to act on behalf of the Borrowers’ Representative and may decline to make any such requested loan or advance, or issuance, or to provide any such financial accommodation pending the Administrative Agent’s being furnished with such documentation concerning that Person’s authority to act as reasonably may be satisfactory to the Administrative Agent.
(f) A request by the Borrowers’ Representative for a loan or advance, or other financial accommodation under this Agreement shall be irrevocable and shall constitute certification by each Borrower that as of the date of such request, each of the following is true and correct:
(i) There has been no material adverse change in the Loan Parties’ financial condition (taken as a whole) from the most recent financial information furnished Administrative Agent or any Revolving Credit Lender pursuant to this Agreement.
(ii) Each representation, not relating to a specific date, which is made herein or in any of the Loan Documents is then true and correct in all material respects as of and as if made on the date of such request (request, except (A) to the extent of changes resulting from transactions contemplated or permitted by this Agreement or the other Loan Documents and changes occurring in the ordinary course of business which singly or in the aggregate are not materially adverse and adverse, (B) to the extent that such representations and warranties expressly relate to a then earlier date), in which case such representations and warranties shall be true and correct in all material respects as of such earlier date, and (C) in the case of any such representations and warranties that are qualified by materiality, such representations and warranties shall be true and correct in all respects.
(iii) Unless accompanied by the Certificate of the Borrowers’ Representative’s Chief Executive Officer, President, or Chief Financial Officer describing (in reasonable detail) the facts and circumstances thereof and the steps (if any) being taken to remedy such condition, no Default has occurred and is continuing.
(g) If, at any time or from time to time, a Default shall occur:
(i) The Administrative Agent may suspend the Borrowers right to request Revolving Credit Loans, SwingLine Loans, or L/Cs immediately, in which event, neither the Administrative Agent nor any Revolving Credit Lender shall be obligated during such suspension, to make any loan or advance, or to provide any financial accommodation hereunder or to seek the issuance of any L/C.
(ii) The Administrative Agent may suspend the right of the Borrowers’ Representative to request any Libor Loan or to convert any Base Margin Loan to a Libor Loan.
Appears in 2 contracts
Samples: Loan and Security Agreement (Casual Male Retail Group Inc), Loan and Security Agreement (Casual Male Retail Group Inc)
Loan Requests. (a) Requests for loans Subject to the provisions of this Agreement, a loan or advance under the Revolving Credit duly and advances under this Agreement or for the continuance or conversion of an interest rate applicable to a Loan may be timely requested by the Borrowers’ Representative Lead Borrower shall be made pursuant hereto, PROVIDED THAT:
(i) The Borrowing Base shall not be exceeded; and
(ii) The Revolving Credit has not been suspended as provided in such manner as may from time to time be reasonably acceptable to the Administrative AgentSection 2.4 (h).
(b) Subject to the provisions of this Agreement, the Borrowers’ Representative Lead Borrower may request a Loan and elect an interest rate and Interest Period to be applicable to that Revolving Credit Loan by giving the Agent written or telephone notice to (confirmed in writing) in the Administrative Agent by no later than the followingform of EXHIBIT 2.4(B) as follows:
(i) If such Loan is to be or is to be converted to a Base Margin Loan: By 1:00 PM on the Business Day prior to the Business Day on which the subject Revolving Credit Loan is to be made or a Base Margin Loan (which shall include the conversion of a Eurodollar Loan): By 11:30 A.M. on the Business Day on which such Revolving Credit Loan is to be so convertedmade. Base Margin Loans requested by the Borrowers’ RepresentativeLead Borrower, other than those resulting from the conversion of a Libor Eurodollar Loan, shall not be less than $100,000.0010,000.00.
(ii) If such Revolving Credit Loan is to bebe Eurodollar Loan (which shall include the continuation of, or is to be continued as, or converted the conversion of a Base Margin Loan to, a Libor Eurodollar Loan: ): By 1:00 PM three (3) Libor P.M. on the third Eurodollar Business Days before Day prior to the commencement first day of any new the Interest Period or the end of the then applicable Interest Periodbeing requested. Libor Loans and conversions to Libor Eurodollar Loans shall each be not less than $1,000,000.00 1,000,000 and in increments of $100,000.00 500,000 in excess of such minimum.
(iii) Any Libor Eurodollar Loan which matures while a Default has occurred and an Suspension Event is continuing shall extant may be converted, at the option of the Administrative Agent, to a Base Margin Loan notwithstanding any notice from the Borrowers’ Representative Borrower that such Loan loan is to be continued as a Libor Eurodollar Loan.
(c) Any request for a Revolving Credit Loan or for the continuance or conversion of an interest rate applicable to a Revolving Credit Loan which is made after the applicable deadline thereforetherefor, as set forth above, shall be deemed to have been made at the opening of business on the then next Business Day or Libor Eurodollar Business Day, as applicable. Each request for a Revolving Credit Loan or for the conversion of a Revolving Credit Loan shall be made in such manner as may from time to time be acceptable to the Administrative Agent.
(d) The Borrowers’ Representative Lead Borrower may request that the Administrative Agent cause the issuance by the Issuer of L/C’s 's for the account of a Borrower as provided in Section 2.202.17.
(e) The Administrative Agent may rely on any request for a loan or advance, advance or other financial accommodation under the Agreement Revolving Credit which the Administrative Agent, in good faith, believes to have been made by a Person duly authorized to act on behalf of the Borrowers’ Representative Lead Borrower and may decline to make any such requested loan or advance, or issuance, or to provide any such financial accommodation pending the Administrative Agent’s 's being furnished with such documentation concerning that Person’s 's authority to act as reasonably may be reasonably satisfactory to the Administrative Agent.
(f) A request by the Borrowers’ Representative Lead Borrower for a loan or advance, advance or other financial accommodation under this Agreement the Revolving Credit or for the Tranche B Loan shall be irrevocable and shall constitute certification by each Borrower that as of the date of such request, each of the following is true and correct:
(i) There has been no material adverse change Material Adverse Change in the Loan Parties’ Borrowers' Consolidated financial condition (taken as a whole) from the most recent financial information furnished Administrative Agent or any Lender pursuant to this Agreement.;
(ii) All or a portion of any loan or advance so requested will be set aside or adequate reserves will otherwise be established by the Borrowers to the extent necessary to pay when due all of the Borrowers' obligations for sales tax on account of sales since the then most recent borrowing pursuant to this Agreement;
(iii) Each representation, not relating to a specific date, representation which is made herein or in any of the other Loan Documents is then true and correct complete in all material respects as of and as if made on the date of such request (except (A) unless such representation relates to the extent of changes resulting from transactions contemplated or permitted by this Agreement or the other Loan Documents and changes occurring in the ordinary course of business which singly or in the aggregate are not materially adverse and (B) to the extent that such representations and warranties expressly relate to a then an earlier date).
(iii) Unless accompanied by the Certificate of the Borrowers’ Representative’s Chief Executive Officer, President, or Chief Financial Officer describing (in reasonable detail) the facts and circumstances thereof and the steps (if any) being taken to remedy such condition, no Default has occurred and is continuing.
(g) If, at any time or from time to time, a Default shall occur:
(i) The Administrative Agent may suspend the Borrowers right to request Loans, SwingLine Loans, or L/Cs immediately, in which event, neither the Administrative Agent nor any Lender event such representation shall be obligated during true as of such suspension, to make any loan or advanceearlier date, or such representation relates to provide any financial accommodation hereunder or to seek a changed condition which change is permitted under the issuance of any L/C.covenants set forth in this Agreement); and
(iiiv) The Administrative Agent may suspend the right of the Borrowers’ Representative to request any Libor Loan or to convert any Base Margin Loan to a Libor LoanNo Suspension Event is then continuing.
Appears in 1 contract
Loan Requests. (a) Requests for loans and advances under this Agreement or for the continuance or conversion of an interest rate applicable to a Loan may be requested by the Borrowers’ Representative in such manner as may from time to time be reasonably acceptable to the Administrative Agent.
(b) Subject to the provisions of this Agreement, Revolving Credit Loans duly and timely requested by the Borrowers’ Representative may request a Loan and elect an interest rate and Interest Period to Borrower shall be applicable to that Loan by giving notice to the Administrative Agent by no later than the followingmade pursuant hereto; provided that:
(i) If such Loan is to be or is to be converted to a Base Margin Loan: By 1:00 PM on the Business Day prior to the Business Day on which the subject Revolving Credit Loan is to be made or is to be so converted. Base Margin Loans requested by the Borrowers’ Representative, other than those resulting from the conversion of a Libor Loan, shall Availability will not be less than $100,000.00exceeded.
(ii) If such Loan is to be, or is to No more than three requests for Revolving Credit Loans may be continued as, or converted to, a Libor Loan: By 1:00 PM three (3) Libor Business Days before the commencement of any new Interest Period or the end of the then applicable Interest Period. Libor Loans and conversions to Libor Loans shall each be not less than $1,000,000.00 and in increments of $100,000.00 in excess of such minimummade per week.
(iii) Any Libor Loan which matures while a Default The Revolving Credit has occurred and is continuing not been suspended as provided in Section 2‑5(j).
(iv) Such requested Revolving Credit Loans shall be converted, at the option in a minimum amount of the Administrative Agent, to a Base Margin Loan notwithstanding any notice from the Borrowers’ Representative that such Loan is to be continued as a Libor Loan$2,000,000 and integral multiples of $100,000 in excess thereof.
(b) [Intentionally Omitted].
(c) [Intentionally Omitted].
(d) Requests for loans and advances under the Revolving Credit or Term Loan shall be made by an irrevocable written request by a Responsible Officer delivered to the Agent. Such notice must be received by Agent in writing no later than 1:00 p.m. two Business Days prior to the date that is the requested funding date; provided that Borrower may request a Revolving Credit Loan no later than 1:00 p.m. on a Business Day to be made on that same day if the amount of such Revolving Credit Loan is not more than the total cash receipts received by the Agent in the Cash Collateral Account on such requested date (each, a “Same Day Advance”). Same Day Advances shall not be subject to the limitations set forth in clauses (ii) and (iv) above.
(e) [Intentionally Omitted].
(f) Any request for a Loan or for the continuance or conversion of an interest rate applicable to a Loan which is made after the applicable deadline thereforetherefor, as set forth above, shall be deemed to have been made at the opening of business on the then next Business Day or Libor Business Day, as applicable. Each request for a Loan or for the conversion of a Loan shall be made in such manner as may from time to time be acceptable to the Administrative Agent.
(dg) The Borrowers’ Representative may request that the Administrative Agent cause the issuance by the Issuer of L/C’s for the account of a Borrower as provided in Section 2.20[Intentionally Omitted].
(eh) The Administrative Agent may rely on any request for a loan or advance, or other financial accommodation under the Agreement Revolving Credit or Term Loan which the Administrative Agent, in good faith, believes to have been made by a Person duly authorized to act on behalf of the Borrowers’ Representative Borrower and may decline to make any such requested loan or advance, or issuance, or to provide any such financial accommodation pending the Administrative Agent’s Agent being furnished with such documentation concerning that Person’s authority to act as reasonably may be satisfactory to the Administrative Agent.
(f) A request by the Borrowers’ Representative for a loan or advance, or other financial accommodation under this Agreement shall be irrevocable and shall constitute certification by each Borrower that as of the date of such request, each of the following is true and correct:
(i) There has been no material adverse change in the Loan Parties’ financial condition (taken as a whole) from the most recent financial information furnished Administrative Agent or any Lender pursuant to this Agreement[Intentionally Omitted].
(iij) Each representationUpon the occurrence, not relating to a specific dateand during the continuance, which is made herein or in any of the Loan Documents is then true and correct in all material respects as of and as if made on the date of such request (except (A) to the extent of changes resulting from transactions contemplated or permitted by this Agreement or the other Loan Documents and changes occurring in the ordinary course of business which singly or in the aggregate are not materially adverse and (B) to the extent that such representations and warranties expressly relate to a then earlier date).
(iii) Unless accompanied by the Certificate of the Borrowers’ Representative’s Chief Executive Officer, President, or Chief Financial Officer describing (in reasonable detail) the facts and circumstances thereof and the steps (if any) being taken to remedy such condition, no Default has occurred and is continuing.
(g) If, at any time or from time to time, a Default shall occurtime of any Suspension Event:
(i) The Administrative Agent may suspend the Borrowers right to request Loans, SwingLine Loans, or L/Cs Revolving Credit and the Term Loan Facility immediately, in which event, neither .
(ii) Neither the Administrative Agent nor any Lender shall be obligated obligated, during such suspension, to make any loan loans or advance, or to provide any financial accommodation hereunder or to seek the issuance of any L/C.
(ii) The Administrative Agent may suspend the right of the Borrowers’ Representative to request any Libor Loan or to convert any Base Margin Loan to a Libor Loanhereunder.
Appears in 1 contract
Samples: Secured Superpriority Debtor in Possession Loan, Security and Guaranty Agreement (Aeropostale Inc)
Loan Requests. (a) Requests for loans Subject to the provisions of the within Agreement, a loan or advance under the Revolving Credit duly and advances under this Agreement or for the continuance or conversion of an interest rate applicable to a Loan may be timely requested by the Borrowers’ Representative Lead Borrower shall be made pursuant hereto, PROVIDED THAT:
(i) The Borrowing Base or the CAN Borrowing Base, as applicable, will not be exceeded; and
(ii) The Revolving Credit has not been suspended as provided in such manner as may from time to time be reasonably acceptable to the Administrative AgentSection 2-5(h).
(b) Subject to the provisions of this the within Agreement, the Borrowers’ Representative Lead Borrower may request a Revolving Credit Loan and elect an interest rate and Interest Period to be applicable to that Revolving Credit Loan by giving the Agent written notice to or telephonic notice confirmed in writing (in the Administrative Agent by form of EXHIBIT 2-5 hereof) no later than the following:
(i) If such Loan is to be or is to be converted to a Base Margin Loan: By 1:00 1:30 PM on the Business Day prior to the Business Day on which the subject Revolving Credit Loan is to be made or is to be so converted. Base Margin Loans requested by the Borrowers’ Representative, other than those resulting from the conversion of a Libor Loan, shall not be less than $100,000.00.
(ii) If such Loan is to be, or is to be continued as, or converted to, as a Libor LIBOR Loan: By 1:00 PM three Three (3) Libor Business Days before the commencement of any new Interest Period or the end of the then applicable Interest Period. Libor Period or before the day on which such Loan is to be made.
(iii) If such Loan is to be converted to a LIBOR Loan: By 1:00PM Three (3) Business Days before the day on which such conversion is to take place.
(i) Base Margin Loans and conversions to Libor Base Margin Loans shall be in a minimum amount of $10,000.00 each.
(ii) LIBOR Loans and conversions to LIBOR Loans shall each be not less than $1,000,000.00 and in $500,000.00 increments of $100,000.00 in excess of such minimum.
(iii) Any Libor Loan which matures while a Default has occurred and is continuing shall be converted, at the option of the Administrative Agent, to a Base Margin Loan notwithstanding any notice from the Borrowers’ Representative that such Loan is to be continued as a Libor Loan.
(cd) Any request for a Revolving Credit Loan or for the continuance or conversion of an interest rate applicable to a Revolving Credit Loan which is made after the applicable deadline thereforetherefor, as set forth above, shall be deemed to have been made at the opening of business on the then next Business Day or Libor LIBOR Business Day, as applicable. Each request for a Loan or for the conversion of a Loan shall be made in such manner as may from time to time be acceptable to the Administrative Agent.
(d) The Borrowers’ Representative may request that the Administrative Agent cause the issuance by the Issuer of L/C’s for the account of a Borrower as provided in Section 2.20.
(e) The Administrative Lead Borrower may request that the Agent cause the issuance of L/C's for the account of the Borrowers as provided in Section 2-17.
(f) The Agent may rely on any request for a loan or advance, or other financial accommodation under the Agreement Revolving Credit which the Administrative Agent, in good faith, believes to have been made by a Person person duly authorized to act on behalf of the Borrowers’ Representative Lead Borrower and may decline to make any such requested loan or advance, or issuance, or to provide any such financial accommodation pending the Administrative Agent’s 's being furnished with such documentation concerning that Person’s person's authority to act as reasonably may be satisfactory to the Administrative Agent.
(fg) A request by the Borrowers’ Representative Lead Borrower for a loan or advance, or other financial accommodation under this Agreement the Revolving Credit shall be irrevocable and shall constitute certification by each the Lead Borrower that as of the date of such request, each of the following is true and correct:
(i) There has been no material adverse change in the Loan Parties’ consolidated financial condition (taken as a whole) of the Obligors from the most recent financial information furnished Administrative Agent or any Lender pursuant to this Agreement, except as reflected in the Parent's press releases since January 31, 1998 (copies of which have been furnished the Agent).
(ii) Each representationObligor is in compliance with, and has not relating breached any of, its material covenants contained in this Agreement.
(iii) If and to the extent necessary, all or a specific date, portion of any loan or advance so requested will be used by the Borrowers to cover all of the Borrowers' obligations for sales tax on account of sales since the then most recent borrowing pursuant to the Revolving Credit.
(iv) Each representation which is made herein or in any of the Loan Documents (defined below) is then true and correct complete in all material respects as of and as if made on the date of such request (except (A) to the extent of changes resulting from transactions contemplated or permitted by this Agreement or the other Loan Documents and changes occurring in the ordinary course of business which singly or in the aggregate are not materially adverse and (B) to the extent that such representations and warranties expressly relate to a then earlier date)request.
(iiiv) Unless accompanied by the Certificate of the Borrowers’ Representative’s Chief Executive Officer, President, or Chief Financial Officer describing (in reasonable detail) the facts and circumstances thereof and the steps (if any) being taken to remedy such condition, no Default has occurred and No Suspension Event is continuingthen extant.
(gh) If, at any time or Upon the occurrence from time to time, a Default shall occurtime of any Suspension Event:
(i) The Administrative Agent may suspend the Borrowers right to request Loans, SwingLine Loans, or L/Cs Revolving Credit immediately, in which event, neither .
(ii) Neither the Administrative Agent nor any Lender shall be obligated obligated, during such suspension, to make any loan loans or advance, or to provide any financial accommodation hereunder or to seek the issuance of any L/C.
(iiiii) The Administrative Agent may suspend the right of the Borrowers’ Representative Lead Borrower to request any Libor Loan or continue LIBOR Loans or to convert any Base Margin Loan Loans to a Libor LoanLIBOR Loans.
Appears in 1 contract
Samples: Loan and Security Agreement (Sunglass Hut International Inc)
Loan Requests. (a) Requests for loans Subject to the provisions of this Agreement, a loan or advance under the Revolving Credit duly and advances under this Agreement or for the continuance or conversion of an interest rate applicable to a Loan may be timely requested by the Borrowers’ Representative Borrower shall be made by the Lenders pursuant hereto, provided that:
(i) Borrowing Base will not be exceeded; and
(ii) The Revolving Credit has not been suspended as provided in such manner as may from time to time be reasonably acceptable to the Administrative AgentSection 2-4(i).
(b) Subject to the provisions of this Agreement, the Borrowers’ Representative Borrower may request a Revolving Credit Loan and elect an interest rate and Interest Period to be applicable to that Revolving Credit Loan by giving the Agent written notice to or telephonic notice confirmed in writing (in the Administrative Agent by form of EXHIBIT 2-4 hereof) no later than the following:
(i) If such Loan is to be or is to be converted to a Base Margin Loan: By 1:00 PM 11:30 AM on the Business Day prior to the Business Day on which the subject Revolving Credit Loan is to be made or is to be so converted. Base Margin Loans requested by the Borrowers’ Representative, other than those resulting from the conversion of a Libor Loan, shall not be less than $100,000.00.
(ii) If such Loan is to be, or is to be continued as, or converted to, as a Libor LIBOR Loan: By 1:00 PM three Three (3) Libor Business Days before the commencement of any new Interest Period or the end of the then applicable Interest Period. Libor Period or before the day on which such Loan is to be made.
(iii) If such Loan is to be converted to a LIBOR Loan: By 1:00 PM Three (3) Business Days before the day on which such conversion is to take place.
(i) Base Margin Loans and conversions to Libor Base Margin Loans shall be in a minimum amount of $10,000.00 each.
(ii) LIBOR Loans and conversions to LIBOR Loans shall each be not less than $1,000,000.00 500,000.00 and in $500,000.00 increments of $100,000.00 in excess of such minimum.
(iii) Any Libor Loan which matures while a Default has occurred and is continuing shall be converted, at the option of the Administrative Agent, to a Base Margin Loan notwithstanding any notice from the Borrowers’ Representative that such Loan is to be continued as a Libor Loan.
(cd) Any request for a Revolving Credit Loan or for the continuance or conversion of an interest rate applicable to a Revolving Credit Loan which is made after the applicable deadline thereforetherefor, as set forth above, shall be deemed to have been made at the opening of business on the then next Business Day or Libor LIBOR Business Day, as applicable. Each request for a Revolving Credit Loan or for the conversion of a Revolving Credit Loan shall be made in such manner as may from time to time be acceptable to the Administrative Agent
(e) If, during the Sixty (60) days immediately preceding the day on which a loan request is made there has been no unpaid principal balance in the Loan Account on account of loans and advances under the Revolving Credit, the loan so requested shall be made (subject to all other provisions of this Agreement) no later than the Second Business Day after (and not counting) the day on which the loan otherwise would have been made as provided above.
(df) The Borrowers’ Representative Borrower may request that the Administrative Agent cause the issuance by the Issuer of L/C’s 's for the account of a the Borrower as provided in Section 2.202-15.
(eg) The Administrative Agent may rely on any request for a loan or advance, or other financial accommodation under the Agreement Revolving Credit which the Administrative Agent, in good faith, believes to have been made by a Person person duly authorized to act on behalf of the Borrowers’ Representative Borrower and may decline to make any such requested loan or advance, or issuance, or to provide any such financial accommodation pending the Administrative Agent’s 's being furnished with such documentation concerning that Person’s person's authority to act as reasonably may be reasonably satisfactory to the Administrative Agent.
(fh) A request by the Borrowers’ Representative Borrower for a loan or advance, or other financial accommodation under this Agreement the Revolving Credit shall be irrevocable and shall constitute certification by each the Borrower that as of the date of such request, each of the following is true and correct:
(i) There has been no material adverse change in the Loan Parties’ Borrower's financial condition (taken as a whole) from the most recent financial information furnished Administrative Agent or any Lender pursuant to this Agreement.
(ii) The Borrower is in compliance with, and has not breached any of, its covenants contained in this Agreement.
(iii) Each representation, not relating to a specific date, representation which is made herein or in any of the Loan Documents (defined below) is then true and correct in all material respects complete as of and as if made on the date of such request (except (A) to the extent of changes resulting from transactions contemplated or permitted by this Agreement or the other Loan Documents and changes occurring in the ordinary course of business which singly or in the aggregate are not materially adverse and (B) to the extent that such representations and warranties expressly relate to a then earlier date)request.
(iiiiv) Unless accompanied by the Certificate of the Borrowers’ Representative’s Chief Executive Officer, President, or Chief Financial Officer describing (in reasonable detail) the facts and circumstances thereof and the steps (if any) being taken to remedy such condition, no Default has occurred and Suspension Event is continuingthen extant.
(gi) If, at any time or Upon the occurrence from time to time, a Default shall occurtime of any Suspension Event:
(i) The Administrative Agent may suspend the Borrowers right to request Loans, SwingLine Loans, or L/Cs Revolving Credit immediately, in which event, neither .
(ii) Neither the Administrative Agent nor any Lender shall be obligated obligated, during such suspension, to make any loan loans or advance, or to provide any financial accommodation hereunder or to seek the issuance of any L/C.
(ii) The Administrative Agent may suspend the right of the Borrowers’ Representative to request any Libor Loan or to convert any Base Margin Loan to a Libor Loan.
Appears in 1 contract
Loan Requests. (a) Subject to the provisions of this Agreement, a loan or advance under the Revolving Credit duly and timely requested by the Lead Borrower shall be made pursuant hereto, provided that:
(i) Borrowing Base will not be exceeded; and
(ii) The Revolving Credit has not been suspended as provided in Section 2-5(i).
(b) Requests for loans and advances under this Agreement or for the continuance or conversion of an interest rate applicable to a Loan Revolving Credit may be requested by the Borrowers’ Representative Lead Borrower in such manner as may from time to time be reasonably acceptable to the Administrative Agent.
(bc) Subject to the provisions of this Agreement, the Borrowers’ Representative Lead Borrower may request a Revolving Credit Loan and elect an interest rate and Interest Period to be applicable to that Revolving Credit Loan by giving notice to the Administrative Agent by notice no later than the following:
(i) If such Revolving Credit Loan is to be or is to be converted to a Base Margin Loan: By 1:00 PM 11:30AM on the Business Day prior to the Business Day on which the subject Revolving Credit Loan is to be made or is to be so converted. Base Margin Loans requested by the Borrowers’ RepresentativeLead Borrower, other than those resulting from the conversion of a Libor Loan, shall not be less than $100,000.0010,000.00.
(ii) If such Revolving Credit Loan is to beis, or is to be continued as, or converted to, a Libor Loan: By 1:00 PM three 1:00PM Three (3) Libor Business Days before the commencement of any new Interest Period or the end of the then applicable Interest Period. Libor Loans and conversions to Libor Loans shall each be not less than $1,000,000.00 and in increments of $100,000.00 250,000.00 in excess of such minimum.
(iii) Any Libor Loan which matures while a Default has occurred and Suspension Event is continuing extant shall be converted, at the option of the Administrative Agent, Agent to a Base Margin Loan notwithstanding any notice from the Borrowers’ Representative that such Loan is to be continued as a Libor Loan.
(c) Any request for a Loan or for the continuance or conversion of an interest rate applicable to a Loan which is made after the applicable deadline therefore, as set forth above, shall be deemed to have been made at the opening of business on the then next Business Day or Libor Business Day, as applicable. Each request for a Loan or for the conversion of a Loan shall be made in such manner as may from time to time be acceptable to the Administrative Agent.
(d) The Borrowers’ Representative may request that the Administrative Agent cause the issuance by the Issuer of L/C’s for the account of a Borrower as provided in Section 2.20.
(e) The Administrative Agent may rely on any request for a loan or advance, or other financial accommodation under the Agreement which the Administrative Agent, in good faith, believes to have been made by a Person duly authorized to act on behalf of the Borrowers’ Representative and may decline to make any such requested loan or advance, or issuance, or to provide any such financial accommodation pending the Administrative Agent’s being furnished with such documentation concerning that Person’s authority to act as reasonably may be satisfactory to the Administrative Agent.
(f) A request by the Borrowers’ Representative for a loan or advance, or other financial accommodation under this Agreement shall be irrevocable and shall constitute certification by each Lead Borrower that as of the date of such request, each of the following is true and correct:
(i) There has been no material adverse change in the Loan Parties’ financial condition (taken as a whole) from the most recent financial information furnished Administrative Agent or any Lender pursuant to this Agreement.
(ii) Each representation, not relating to a specific date, which is made herein or in any of the Loan Documents is then true and correct in all material respects as of and as if made on the date of such request (except (A) to the extent of changes resulting from transactions contemplated or permitted by this Agreement or the other Loan Documents and changes occurring in the ordinary course of business which singly or in the aggregate are not materially adverse and (B) to the extent that such representations and warranties expressly relate to a then earlier date).
(iii) Unless accompanied by the Certificate of the Borrowers’ Representative’s Chief Executive Officer, President, or Chief Financial Officer describing (in reasonable detail) the facts and circumstances thereof and the steps (if any) being taken to remedy such condition, no Default has occurred and is continuing.
(g) If, at any time or from time to time, a Default shall occur:
(i) The Administrative Agent may suspend the Borrowers right to request Loans, SwingLine Loans, or L/Cs immediately, in which event, neither the Administrative Agent nor any Lender shall be obligated during such suspension, to make any loan or advance, or to provide any financial accommodation hereunder or to seek the issuance of any L/C.
(ii) The Administrative Agent may suspend the right of the Borrowers’ Representative to request any Libor Loan or to convert any Base Margin Loan to a Libor Loan.such
Appears in 1 contract
Samples: Loan and Security Agreement (Homeplace of America Inc)
Loan Requests. (a) Subject to the provisions of this Agreement, a loan or advance under the Revolving Credit duly and timely requested by the Borrower shall be made pursuant hereto, provided that:
(i) Availability will not be exceeded; and
(ii) The Revolving Credit has not been suspended as provided in Section 2-(h).
(b) Requests for loans and advances under this Agreement or for the continuance or conversion of an interest rate applicable to a Loan Revolving Credit may be requested by the Borrowers’ Representative Borrower in such manner as may from time to time be reasonably acceptable to the Administrative AgentLender.
(bc) Subject to the provisions of this Agreement, the Borrowers’ Representative Borrower may request a Revolving Credit Loan and elect an interest rate and Interest Period to be applicable to that Revolving Credit Loan by giving the Lender notice to the Administrative Agent by no later than the following:
(i) If such Revolving Credit Loan is to be or is to be converted to a Base Margin Loan: By 1:00 PM on the Business Day prior to the Business Day on which the subject Revolving Credit Loan is to be made or is to be so converted. Base Margin Loans requested by the Borrowers’ RepresentativeBorrower, other than those resulting from the conversion of a Libor Eurodollar Loan, shall not be less than $100,000.0010,000.00 (or the then Availability if less than $10,000.00).
(ii) If such Revolving Credit Loan is to beis, or is to be continued as, or converted to, a Libor Eurodollar Loan: By 1:00 PM three Two (32) Libor Eurodollar Business Days before the commencement of any new Interest Period or the end of the then applicable Interest Period. Libor Eurodollar Loans and conversions to Libor Eurodollar Loans shall each be not less than $1,000,000.00 and in increments of $100,000.00 1,000,000.00 in excess of such minimum.
(iii) Any Libor Eurodollar Loan which matures while a Default has occurred and Suspension Event is continuing extant shall be converted, at the option of the Administrative Agent, Lender to a Base Margin Loan notwithstanding any notice from the Borrowers’ Representative Borrower that such Loan is to be continued as a Libor Eurodollar Loan.
(cd) Any request for a Revolving Credit Loan or for the continuance or conversion of an interest rate applicable to a Revolving Credit Loan which is made after the applicable deadline thereforethere- for, as set forth above, shall be deemed to have been made at the opening of business on the then next Business Day or Libor Eurodollar Business Day, as applicable. Each request for a Revolving Credit Loan or for the conversion of a Revolving Credit Loan shall be made in such manner as may from time to time be reasonably acceptable to the Administrative Agent.Lender
(de) The Borrowers’ Representative Borrower may request that the Administrative Agent Lender cause the issuance by the Issuer of L/C’s 's for the account of a the Borrower as provided in Section 2.202-17.
(ef) The Administrative Agent Lender may rely on any request for a loan or advance, or other financial accommodation under the Agreement Revolving Credit which the Administrative AgentLender, in good faith, reasonably believes to have been made by a Person duly authorized to act on behalf of the Borrowers’ Representative Borrower and may decline to make any such requested loan or advance, or issuance, or to provide any such financial accommodation pending the Administrative Agent’s Lender's being furnished with such documentation concerning that Person’s 's authority to act as reasonably may be reasonably satisfactory to the Administrative AgentLender.
(fg) A request by the Borrowers’ Representative Borrower for a loan or advance, or other financial accommodation under this Agreement the Revolving Credit shall be irrevocable and shall constitute certification by each the Borrower that as of the date of such request, each of the following is true and correct:
(i) There has been no material adverse change in the Loan Parties’ Borrower's financial condition (taken as a whole) from the most recent financial information furnished Administrative Agent or any to the Lender pursuant to this Agreement.
(ii) All or a portion of any loan or advance so requested will be set aside by the Borrower to cover all of the Borrower's obligations for sales tax on account of sales since the then most recent borrowing pursuant to the Revolving Credit.
(iii) Each representation, not relating to a specific date, representation which is made herein or in any of the Loan Documents (defined below) is then true and correct complete in all material respects as of and as if made on the date of such request (except (A) to the extent other than those which are as of changes resulting from transactions contemplated or permitted by this Agreement or the other Loan Documents a specific date, in which case such representation was true and changes occurring complete in the ordinary course all material respects as of business which singly or in the aggregate are not materially adverse and (B) to the extent that such representations and warranties expressly relate to a then earlier date).
(iiiiv) Unless accompanied by the Certificate of the Borrowers’ Representative’s Chief Executive Officer, President, or Chief Financial Officer describing (in reasonable detail) the facts and circumstances thereof and the steps (if any) being taken to remedy such condition, no Default has occurred and No Suspension Event is continuingthen extant.
(gh) IfUpon the occurrence, at any time or and during the continuance, from time to time, a Default shall occurtime of any Suspension Event:
(i) The Administrative Agent Lender may suspend the Borrowers right to request Loans, SwingLine Loans, or L/Cs Revolving Credit immediately, in which event, neither the Administrative Agent nor any .
(ii) The Lender shall not be obligated obligated, during such suspension, to make any loan loans or advance, or to provide any financial accommodation hereunder or to seek the issuance of any L/C.
(iiiii) The Administrative Agent Lender may suspend the right of the Borrowers’ Representative Borrower to request any Libor Eurodollar Loan or to convert any Base Margin Loan to a Libor Eurodollar Loan.
Appears in 1 contract
Loan Requests. (a) Subject to the provisions of this Agreement, a loan or advance under the Credits duly and timely requested by the Borrower shall be made pursuant hereto, PROVIDED THAT the Credits have not been suspended as provided in Section 2-4(h).
(b) Requests for loans and advances under this Agreement or for the continuance or conversion of an interest rate applicable to a Loan Credits may be requested by the Borrowers’ Representative Borrower in such manner as may from time to time be reasonably acceptable to the Administrative AgentLender.
(bc) Subject to the provisions of this Agreement, the Borrowers’ Representative Borrower may request a Loan and elect an interest rate and Interest Period to be applicable to that Loan by giving the Lender notice to the Administrative Agent by no later than the following:
(i) If such Loan is to be or is to be converted to a Base Margin Prime Rate Loan: By 1:00 PM 11:30AM on the Business Day prior to the Business Day on which the subject Revolving Credit Loan is to be made or is to be so converted. Base Margin Prime Rate Loans requested by the Borrowers’ RepresentativeBorrower, other than those resulting from the conversion of a Libor Loan, shall not be less than $100,000.0010,000.00.
(ii) If such Loan is to beis, or is to be continued as, or converted to, a Libor Loan: By 1:00 PM three 1:00PM Three (3) Libor Business Days before the commencement of any new Interest Period or the end of the then applicable Interest Period. Libor Loans and conversions to Libor Loans shall each be not less than $1,000,000.00 250,000.00 and in increments of $100,000.00 50,000.00 in excess of such minimum.
(iii) Any Libor Loan which matures while a Default has occurred and Suspension Event is continuing extant shall be converted, at the option of the Administrative Agent, Lender to a Base Margin Prime Rate Loan notwithstanding any notice from the Borrowers’ Representative Borrower that such Loan is to be continued as a Libor Loan.
(cd) Any request for a Loan or for the continuance or conversion of an interest rate applicable to a Loan which is made after the applicable deadline thereforetherefor, as set forth above, shall be deemed to have been made at the opening of business on the then next Business Day or Libor Business Day, as applicable. Each request for a Loan or for the conversion of a Loan shall be made in such manner as may from time to time be acceptable to the Administrative Agent.Lender
(de) The Borrowers’ Representative Borrower may request that the Administrative Agent Lender cause the issuance by the Issuer of L/C’s 's for the account of a the Borrower as provided in Section 2.202-11.
(ef) The Administrative Agent Lender may rely on any request for a loan or advance, or other financial accommodation under the Agreement Credits which the Administrative AgentLender, in good faith, believes to have been made by a Person duly authorized to act on behalf of the Borrowers’ Representative Borrower and may decline to make any such requested loan or advance, or issuance, or to provide any such financial accommodation pending the Administrative Agent’s Lender's being furnished with such documentation concerning that Person’s 's authority to act as reasonably may be satisfactory to the Administrative AgentLender.
(fg) A request by the Borrowers’ Representative Borrower for a loan or advance, or other financial accommodation under this Agreement the Credits shall be irrevocable and shall constitute certification by each the Borrower that as of the date of such request, each of the following is true and correct:
(i) There has been no material adverse change in the Loan Parties’ financial condition (taken as a whole) from Material Adverse Change since the most recent financial information furnished Administrative Agent or any Lender pursuant to this Agreement.
(ii) The Borrower is in compliance with, and has not breached any of, its covenants contained in this Agreement.
(iii) Each representation, not relating to a specific date, representation which is made herein or in any of the Loan Documents (defined below) is then true and correct in all material respects complete as of and as if made on the date of such request (except (A) to the extent of changes resulting from transactions contemplated or permitted by this Agreement or the other Loan Documents and changes occurring in the ordinary course of business which singly or in the aggregate are not materially adverse and (B) to the extent that such representations and warranties expressly relate to a then earlier date)request.
(iiiiv) Unless accompanied by the Certificate of the Borrowers’ Representative’s Chief Executive Officer, President, or Chief Financial Officer describing (in reasonable detail) the facts and circumstances thereof and the steps (if any) being taken to remedy such condition, no Default has occurred and No Suspension Event is continuingthen extant.
(gh) If, at any time or Upon the occurrence from time to time, a Default shall occur:
time of any Suspension Event: (i) The Administrative Agent Lender may suspend the Borrowers right to request Loans, SwingLine Loans, or L/Cs Credits immediately, in which event, neither the Administrative Agent nor any Lender shall be obligated during such suspension, to make any loan or advance, or to provide any financial accommodation hereunder or to seek the issuance of any L/C.
(ii) The Administrative Agent may suspend the right of the Borrowers’ Representative to request any Libor Loan or to convert any Base Margin Loan to a Libor Loan.
Appears in 1 contract
Loan Requests. (a) Subject to the provisions of this Agreement, a loan or advance under the Revolving Credit duly and timely requested by the Borrower shall be made pursuant hereto, provided that:
(i) Borrowing Base will not be exceeded; and
(ii) The Revolving Credit has not been suspended as provided in Section 2-5(h).
(b) Requests for loans and advances under this Agreement or for the continuance or conversion of an interest rate applicable to a Loan Revolving Credit may be requested by the Borrowers’ Representative Borrower in such manner as may from time to time be reasonably acceptable to the Administrative Agent.
(bc) Subject to the provisions of this Agreement, the Borrowers’ Representative Borrower may request a Revolving Credit Loan and elect an interest rate and Interest Period to be applicable to that Revolving Credit Loan by giving the Agent notice to the Administrative Agent by no later than the following:
(i) If such Revolving Credit Loan is to be or is to be converted to a Base Margin Loan: By 1:00 3:00 PM on the Business Day prior to the Business Day on which the subject Revolving Credit Loan is to be made or is to be so converted. Base Margin Loans requested by the Borrowers’ RepresentativeBorrower, other than those resulting from the conversion of a Libor Eurodollar Loan, shall not be less than $100,000.0010,000.00 (or the then Availability if less than $10,000.00).
(ii) If such Revolving Credit Loan is to beis, or is to be continued as, or converted to, a Libor Eurodollar Loan: By 1:00 PM three 3:00PM Two (32) Libor Eurodollar Business Days before the commencement of any new Interest Period or the end of the then applicable Interest Period. Libor Eurodollar Loans and conversions to Libor Eurodollar Loans shall each be not less than $1,000,000.00 100,000.00 and in increments of $100,000.00 in excess of such minimum.
(iii) Any Libor Eurodollar Loan which matures while a Default has occurred and Suspension Event is continuing extant shall be converted, at the option of the Administrative Agent, Agent to a Base Margin Loan notwithstanding any notice from the Borrowers’ Representative Borrower that such Loan is to be continued as a Libor Eurodollar Loan.
(cd) Any request for a Revolving Credit Loan or for the continuance or conversion of an interest rate applicable to a Revolving Credit Loan which is made after the applicable deadline thereforetherefor, as set forth above, shall be deemed to have been made at the opening of business on the then next Business Day or Libor Eurodollar Business Day, as applicable. Each request for a Revolving Credit Loan or for the conversion of a Revolving Credit Loan shall be made in such manner as may from time to time be reasonably acceptable to the Administrative Agent.
(de) The Borrowers’ Representative Borrower may request that the Administrative Agent cause the issuance by the Issuer of L/C’s 's for the account of a the Borrower as provided in Section 2.202-17.
(ef) The Administrative Agent may rely on any request for a loan or advance, or other financial accommodation under the Agreement Revolving Credit which the Administrative Agent, in good faith, reasonably believes to have been made by a Person duly authorized to act on behalf of the Borrowers’ Representative Borrower and may decline to make any such requested loan or advance, or issuance, or to provide any such financial accommodation pending the Administrative Agent’s 's being furnished with such documentation concerning that Person’s 's authority to act as reasonably may be reasonably satisfactory to the Administrative Agent.
(fg) A request by the Borrowers’ Representative Borrower for a loan or advance, or other financial accommodation under this Agreement the Revolving Credit shall be irrevocable and shall constitute certification by each the Borrower that as of the date of such request, each of the following is true and correct:
(i) There has been no material adverse change in the Loan Parties’ Borrower's financial condition (taken as a whole) from the most recent financial information furnished Administrative to the Agent or any Lender pursuant to this Agreement.
(ii) All or a portion of any loan or advance so requested will be set aside by the Borrower to cover all of the Borrower's obligations for sales tax on account of sales since the then most recent borrowing pursuant to the Revolving Credit.
(iii) Each representation, not relating to a specific date, representation which is made herein or in any of the Loan Documents (defined below) is then true and correct complete in all material respects as of and as if made on the date of such request (except (A) to the extent other than those which are as of changes resulting from transactions contemplated or permitted by this Agreement or the other Loan Documents a specific date, in which case such representation was true and changes occurring complete in the ordinary course all material respects as of business which singly or in the aggregate are not materially adverse and (B) to the extent that such representations and warranties expressly relate to a then earlier date). Exhibit 10.4
(iv) No Suspension Event is then extant.
(iiih) Unless accompanied by Upon the Certificate of occurrence, and during the Borrowers’ Representative’s Chief Executive Officercontinuance, President, or Chief Financial Officer describing (in reasonable detail) the facts and circumstances thereof and the steps (if any) being taken to remedy such condition, no Default has occurred and is continuing.
(g) If, at any time or from time to time, a Default shall occurtime of any Suspension Event:
(i) The Administrative Agent may suspend the Borrowers right to request Loans, SwingLine Loans, or L/Cs Revolving Credit immediately, in which event, neither .
(ii) Neither the Administrative Agent nor any Lender shall be obligated obligated, during such suspension, to make any loan loans or advance, or to provide any financial accommodation hereunder or to seek the issuance of any L/C.
(iiiii) The Administrative Agent may suspend the right of the Borrowers’ Representative Borrower to request any Libor Eurodollar Loan or to convert any Base Margin Loan to a Libor Eurodollar Loan.
Appears in 1 contract
Loan Requests. (a) Subject to the provisions of this Agreement, a loan or advance under the Revolving Credit duly and timely requested by the Borrower shall be made pursuant hereto, PROVIDED THAT:
(i) Borrowing Base will not be exceeded; and
(ii) The Revolving Credit has not been suspended as provided in Section 2-4(i).
(b) Requests for loans and advances under this Agreement or for the continuance or conversion of an interest rate applicable to a Loan Revolving Credit may be requested by the Borrowers’ Representative Borrower in such manner as may from time to time be reasonably acceptable to the Administrative AgentLender.
(bc) Subject to the provisions of this Agreement, a request for a loan or advance (in each instance in an amount which is not less than $10,000.00) shall be made by 11:30AM on a Business Day will be made by the Borrowers’ Representative may request a Loan and elect an interest rate and Interest Period to be applicable to end of business on that Loan Business Day; otherwise, by giving notice to the Administrative Agent by no later than end of the following:then next Business Day.
(i) If such Revolving Credit Loan is to be or is to be converted to a Base Margin Loan: By 1:00 PM 11:30 A.M. on the Business Day prior to the Business Day on which the subject Revolving Credit Loan is to be made or is to be so converted. Base Margin Loans requested by the Borrowers’ RepresentativeBorrower, other than those resulting from the conversion of a Libor Loan, shall not be less than $100,000.0010,000.00.
(ii) If such Revolving Credit Loan is to beis, or is to be continued as, or converted to, a Libor Loan: By 1:00 PM three P.M. Two (32) Libor Business Days before the commencement of any new Interest Period or the end of the then applicable Interest Period. Libor Loans and conversions to Libor Loans shall each be not less than $1,000,000.00 1,000,000 and in increments of $100,000.00 50,000 in excess of such minimum.
(iii) Any Libor Loan which matures while a Default has occurred and Suspension Event is continuing extant shall be converted, at the option of the Administrative Agent, Lender to a Base Margin Loan notwithstanding any notice from the Borrowers’ Representative Borrower that such Loan is to be continued as a Libor Loan.
(cd) Any request for a Revolving Credit Loan or for the continuance or conversion of an interest rate applicable to a Revolving Credit Loan which is made after the applicable deadline thereforetherefor, as set forth above, shall be deemed to have been made at the opening of business on the then next Business Day or Libor Business Day, as applicable. Each request for a Revolving Credit Loan or for the conversion of a Revolving Credit Loan shall be made in such manner as may from time to time be reasonably acceptable to the Administrative AgentLender.
(d) The Borrowers’ Representative may request that the Administrative Agent cause the issuance by the Issuer of L/C’s for the account of a Borrower as provided in Section 2.20.
(e) The Administrative Agent may rely on any request for a loan or advance, or other financial accommodation under the Agreement which the Administrative Agent, in good faith, believes to have been made by a Person duly authorized to act on behalf of the Borrowers’ Representative and may decline to make any such requested loan or advance, or issuance, or to provide any such financial accommodation pending the Administrative Agent’s being furnished with such documentation concerning that Person’s authority to act as reasonably may be satisfactory to the Administrative Agent.
(f) A request by the Borrowers’ Representative for a loan or advance, or other financial accommodation under this Agreement shall be irrevocable and shall constitute certification by each Borrower that as of the date of such request, each of the following is true and correct:
(i) There has been no material adverse change in the Loan Parties’ financial condition (taken as a whole) from the most recent financial information furnished Administrative Agent or any Lender pursuant to this Agreement.
(ii) Each representation, not relating to a specific date, which is made herein or in any of the Loan Documents is then true and correct in all material respects as of and as if made on the date of such request (except (A) to the extent of changes resulting from transactions contemplated or permitted by this Agreement or the other Loan Documents and changes occurring in the ordinary course of business which singly or in the aggregate are not materially adverse and (B) to the extent that such representations and warranties expressly relate to a then earlier date).
(iii) Unless accompanied by the Certificate of the Borrowers’ Representative’s Chief Executive Officer, President, or Chief Financial Officer describing (in reasonable detail) the facts and circumstances thereof and the steps (if any) being taken to remedy such condition, no Default has occurred and is continuing.
(g) If, at any time or from time to time, a Default shall occur:
(i) The Administrative Agent may suspend the Borrowers right to request Loans, SwingLine Loans, or L/Cs immediately, in which event, neither the Administrative Agent nor any Lender shall be obligated during such suspension, to make any loan or advance, or to provide any financial accommodation hereunder or to seek the issuance of any L/C.
(ii) The Administrative Agent may suspend the right of the Borrowers’ Representative to request any Libor Loan or to convert any Base Margin Loan to a Libor Loan.
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Loan Requests. (a) Subject to the provisions of this Agreement, a loan or advance under the Revolving Credit duly and timely requested by the Borrower shall be made pursuant hereto, provided that:
(i) Borrowing Base will not be exceeded; and
(ii) The Revolving Credit has not been suspended as provided in Section 2-4(i).
(b) Requests for loans and advances under this Agreement or for the continuance or conversion of an interest rate applicable to a Loan Revolving Credit may be requested by the Borrowers’ Representative Borrower in such manner as may from time to time be reasonably acceptable to the Administrative Agent.
(bc) Subject to the provisions of this Agreement, the Borrowers’ Representative Borrower may request a Revolving Credit Loan and elect an interest rate and Interest Period to be applicable to that Revolving Credit Loan by giving the Agent notice to the Administrative Agent by no later than the following:
(i) If such Revolving Credit Loan is to be or is to be converted to a Base Margin Loan: By 1:00 PM 11:30 A.M. on the Business Day prior to the Business Day on which the subject Revolving Credit Loan is to be made or is to be so converted. Base Margin Loans requested by the Borrowers’ RepresentativeBorrower, other than those resulting from the conversion of a Libor Loan, shall not be less than $100,000.0010,000.00.
(ii) If such Revolving Credit Loan is to beis, or is to be continued as, or converted to, a Libor Loan: By 1:00 PM three P.M. Three (3) Libor Business Days before the commencement of any new Interest Period or the end of the then applicable Interest Period. Libor Loans and conversions to Libor Loans shall each be not less than $1,000,000.00 1,000,000 and in increments of $100,000.00 100,000 in excess of such minimum.
(iii) Any Libor Loan which matures while a Default has occurred and Suspension Event is continuing extant shall be converted, at the option of the Administrative Agent, Agent to a Base Margin Loan notwithstanding any notice from the Borrowers’ Representative Borrower that such Loan is to be continued as a Libor Loan.
(cd) Any request for a Revolving Credit Loan or for the continuance or conversion of an interest rate applicable to a Revolving Credit Loan which is made after the applicable deadline thereforetherefor, as set forth above, shall be deemed to have been made at the opening of business on the then next Business Day or Libor Business Day, as applicable. Each request for a Revolving Credit Loan or for the conversion of a Revolving Credit Loan shall be made in such manner as may from time to time be acceptable to the Administrative Agent
(e) If, during the thirty (30) days immediately preceding the day on which a loan request is made there has been no unpaid principal balance in the Loan Account on account of loans and advances under the Revolving Credit, the loan so requested shall be made (subject to all other provisions of this Agreement) no later than the Third Business Day after (and not counting) the day on which the loan otherwise would have been made as provided above.
(df) The Borrowers’ Representative Borrower may request that the Administrative Agent cause the issuance by the Issuer of L/C’s 's for the account of a the Borrower as provided in Section 2.202-16.
(eg) The Administrative Agent may rely on any request for a loan or advance, or other financial accommodation under the Agreement Revolving Credit which the Administrative Agent, in good faith, believes to have been made by a Person duly authorized to act on behalf of the Borrowers’ Representative Borrower and may decline to make any such requested loan or advance, or issuance, or to provide any such financial accommodation pending the Administrative Agent’s 's being furnished with such documentation concerning that Person’s 's authority to act as reasonably may be satisfactory to the Administrative Agent.
(fh) A request by the Borrowers’ Representative Borrower for a loan or advance, or other financial accommodation under this Agreement the Revolving Credit shall be irrevocable and shall constitute certification by each the Borrower that as of the date of such request, each of the following is true and correct:
(i) There has been no material adverse change in the Loan Parties’ Borrower's financial condition (taken as a whole) from the most recent financial information furnished Administrative Agent or any Lender pursuant to this Agreement.
(ii) Each representation, not relating to a specific date, which is made herein or in any of the Loan Documents is then true and correct in all material respects as of and as if made on the date of such request (except (A) to the extent of changes resulting from transactions contemplated or permitted by this Agreement or the other Loan Documents and changes occurring in the ordinary course of business which singly or in the aggregate are not materially adverse and (B) to the extent that such representations and warranties expressly relate to a then earlier date).
(iii) Unless accompanied by the Certificate of the Borrowers’ Representative’s Chief Executive Officer, President, or Chief Financial Officer describing (in reasonable detail) the facts and circumstances thereof and the steps (if any) being taken to remedy such condition, no Default has occurred and is continuing.
(g) If, at any time or from time to time, a Default shall occur:
(i) The Administrative Agent may suspend the Borrowers right to request Loans, SwingLine Loans, or L/Cs immediately, in which event, neither the Administrative Agent nor any Lender shall be obligated during such suspension, to make any loan or advance, or to provide any financial accommodation hereunder or to seek the issuance of any L/C.
(ii) The Administrative Agent may suspend the right of the Borrowers’ Representative to request any Libor Loan or to convert any Base Margin Loan to a Libor Loan.
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Loan Requests. (a) Requests for loans Subject to the provisions of this Agreement, a loan or advance under the Revolving Credit duly and advances under this Agreement or for the continuance or conversion of an interest rate applicable to a Loan may be timely requested by the Borrowers’ Representative Lead Borrower shall be made pursuant hereto, provided that: (i) The Borrowing Base shall not be exceeded; and (ii) The Revolving Credit has not been suspended as provided in such manner as may from time to time be reasonably acceptable to the Administrative AgentSection 2.4 (h).
(b) Subject to the provisions of this Agreement, the Borrowers’ Representative Lead Borrower may request a Loan and elect an interest rate and Interest Period to be applicable to that Revolving Credit Loan by giving the Agent written or telephone notice to (confirmed writing in the Administrative Agent by no later than the followingform of EXHIBIT 2.4(B) as follows:
(i) If such Loan is to be or is to be converted to a Base Margin Loan: By 1:00 PM on the Business Day prior to the Business Day on which the subject Revolving Credit Loan is to be made or a Base Margin Loan (which shall include the conversion of a Eurodollar Loan): By 11:30 A.M. on the Business Day on which such Revolving Credit Loan is to be so convertedmade. Base Margin Loans requested by the Borrowers’ RepresentativeBorrower, other than those resulting from the conversion of a Libor Eurodollar Loan, shall not be less than $100,000.0010,000.00.
(ii) If such Revolving Credit Loan is to bebe Eurodollar Loan (which shall include the continuation of, or is to be continued as, or converted the conversion of a Base Margin Loan to, a Libor Eurodollar Loan: ): By 1:00 PM three (3) Libor P.M. on the third Eurodollar Business Days before Day prior to the commencement first day of any new the Interest Period or the end of the then applicable Interest Periodbeing requested. Libor Loans and conversions to Libor Eurodollar Loans shall each be not less than $1,000,000.00 1,000,000 and in increments of $100,000.00 500,000 in excess of such minimum.
(iii) Any Libor Eurodollar Loan which matures while a an Event of Default has occurred and is continuing shall extant may be converted, at the option of the Administrative Agent, to a Base Margin Loan notwithstanding any notice from the Borrowers’ Representative Borrower that such Loan loan is to be continued as a Libor Eurodollar Loan.
(c) Any request for a Revolving Credit Loan or for the continuance or conversion of an interest rate applicable to a Revolving Credit Loan which is made after the applicable deadline thereforetherefor, as set forth above, shall be deemed to have been made at the opening of business on the then next Business Day or Libor Eurodollar Business Day, as applicable. Each request for a Revolving Credit Loan or for the conversion of a Revolving Credit Loan shall be made in such manner as may from time to time be acceptable to the Administrative Agent.
(d) The Borrowers’ Representative Lead Borrower may request that the Administrative Agent cause the issuance by the Issuer of L/C’s 's for the account of a Borrower as provided in Section 2.20.
2.17. (e) The Administrative Agent may rely on any request for a loan or advance, advance or other financial accommodation under the Agreement Revolving Credit which the Administrative Agent, in good faith, believes to have been made by a Person duly authorized to act on behalf of the Borrowers’ Representative Lead Borrower and may decline to make any such requested loan or advance, or issuance, or to provide any such financial accommodation pending the Administrative Agent’s 's being furnished with such documentation concerning that Person’s 's authority to act as reasonably may be reasonably satisfactory to the Administrative Agent.
(f) A request by the Borrowers’ Representative for a loan or advance, or other financial accommodation under this Agreement shall be irrevocable and shall constitute certification by each Borrower that as of the date of such request, each of the following is true and correct:
(i) There has been no material adverse change in the Loan Parties’ financial condition (taken as a whole) from the most recent financial information furnished Administrative Agent or any Lender pursuant to this Agreement.
(ii) Each representation, not relating to a specific date, which is made herein or in any of the Loan Documents is then true and correct in all material respects as of and as if made on the date of such request (except (A) to the extent of changes resulting from transactions contemplated or permitted by this Agreement or the other Loan Documents and changes occurring in the ordinary course of business which singly or in the aggregate are not materially adverse and (B) to the extent that such representations and warranties expressly relate to a then earlier date).
(iii) Unless accompanied by the Certificate of the Borrowers’ Representative’s Chief Executive Officer, President, or Chief Financial Officer describing (in reasonable detail) the facts and circumstances thereof and the steps (if any) being taken to remedy such condition, no Default has occurred and is continuing.
(g) If, at any time or from time to time, a Default shall occur:
(i) The Administrative Agent may suspend the Borrowers right to request Loans, SwingLine Loans, or L/Cs immediately, in which event, neither the Administrative Agent nor any Lender shall be obligated during such suspension, to make any loan or advance, or to provide any financial accommodation hereunder or to seek the issuance of any L/C.
(ii) The Administrative Agent may suspend the right of the Borrowers’ Representative to request any Libor Loan or to convert any Base Margin Loan to a Libor Loan.
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Loan Requests. (a) Requests for loans Subject to the provisions of this Agreement, a loan or advance under the Revolving Credit duly and advances under this Agreement or for the continuance or conversion of an interest rate applicable to a Loan may be timely requested by the Borrowers’ Representative Lead Borrower shall be made pursuant hereto, provided that: (i) The Borrowing Base shall not be exceeded; and (ii) The Revolving Credit has not been suspended as provided in such manner as may from time to time be reasonably acceptable to the Administrative AgentSection 2.4 (h).
(b) Subject to the provisions of this Agreement, the Borrowers’ Representative Lead Borrower may request a Loan and elect an interest rate and Interest Period to be applicable to that Revolving Credit Loan by giving the Agent written or telephone notice to (confirmed in writing) in the Administrative Agent by no later than the followingform of EXHIBIT 2.4(B) as follows:
(i) If such Loan is to be or is to be converted to a Base Margin Loan: By 1:00 PM on the Business Day prior to the Business Day on which the subject Revolving Credit Loan is to be made or is to be so converted. a Base Margin Loans requested by the Borrowers’ Representative, other than those resulting from Loan (which shall include the conversion of a Libor Eurodollar Loan, shall not be less than $100,000.00.): By 11:30 A.M. on the Business Day on which such Revolving Credit Loan is
(ii) If such Revolving Credit Loan is to bebe Eurodollar Loan (which shall include the continuation of, or is to be continued as, or converted the conversion of a Base Margin Loan to, a Libor Eurodollar Loan: ): By 1:00 PM three (3) Libor P.M. on the third Eurodollar Business Days before Day prior to the commencement first day of any new the Interest Period or the end of the then applicable Interest Periodbeing requested. Libor Loans and conversions to Libor Eurodollar Loans shall each be not less than $1,000,000.00 1,000,000 and in increments of $100,000.00 500,000 in excess of such minimum.
(iii) Any Libor Eurodollar Loan which matures while a an Event of Default has occurred and is continuing shall extant may be converted, at the option of the Administrative Agent, to a Base Margin Loan notwithstanding any notice from the Borrowers’ Representative Borrower that such Loan loan is to be continued as a Libor Eurodollar Loan.
(c) Any request for a Revolving Credit Loan or for the continuance or conversion of an interest rate applicable to a Revolving Credit Loan which is made after the applicable deadline thereforetherefor, as set forth above, shall be deemed to have been made at the opening of business on the then next Business Day or Libor Eurodollar Business Day, as applicable. Each request for a Revolving Credit Loan or for the conversion of a Revolving Credit Loan shall be made in such manner as may from time to time be acceptable to the Administrative Agent.
(d) The Borrowers’ Representative Lead Borrower may request that the Administrative Agent cause the issuance by the Issuer of L/C’s 's for the account of a Borrower as provided in Section 2.20.
2.17. (e) ______ The Administrative Agent may rely on any request for a loan or advance, advance or other financial accommodation under the Agreement Revolving Credit which the Administrative Agent, in good faith, believes to have been made by a Person duly authorized to act on behalf of the Borrowers’ Representative Lead Borrower and may decline to make any such requested loan or advance, or issuance, or to provide any such financial accommodation pending the Administrative Agent’s being furnished with such documentation concerning that Person’s authority to act as reasonably may be satisfactory to the Administrative Agent.or
(f) A request by the Borrowers’ Representative Lead Borrower for a loan or advance, advance or other financial accommodation under this Agreement the Revolving Credit or for the Tranche B Loan shall be irrevocable and shall constitute certification by each Borrower that as of the date of such request, each of the following is true and correct:
: (i) ____ There has been no material adverse change Material Adverse Change in the Loan Parties’ Borrowers' Consolidated financial condition (taken as a whole) from the most recent financial information furnished Administrative Agent or any Lender pursuant to this Agreement.
; (ii) All or a portion of any loan or advance so requested will be set aside or adequate reserves will otherwise be established by the Borrowers to the extent necessary to pay when due all of the Borrowers' obligations for sales tax on account of sales since the then most recent borrowing pursuant to this Agreement; (iii) Each representation, not relating to a specific date, representation which is made herein or in any of the other Loan Documents is then true and correct complete in all material respects as of and as if made on the date of such request (except (A) unless such representation relates to an earlier date, in which event such representation shall be true as of such earlier date, or such representation relates to a changed condition which change is permitted under the extent of changes resulting from transactions contemplated or permitted by covenants set forth in this Agreement or the other Loan Documents and changes occurring in the ordinary course of business which singly or in the aggregate are not materially adverse Agreement); and (Biv) to the extent that such representations and warranties expressly relate to a No Suspension Event is then earlier date).
(iii) Unless accompanied by the Certificate of the Borrowers’ Representative’s Chief Executive Officer, President, or Chief Financial Officer describing (in reasonable detail) the facts and circumstances thereof and the steps (if any) being taken to remedy such condition, no Default has occurred and is continuing.
(g) IfSubject to the provisions of this Agreement, at any time or from time to time, a Default shall occur:during the Tranche B Commitment Period the Lead Borrower may request the Tranche B Loan by giving the Agent not less than thirty (30) days prior written notice thereof in the form of EXHIBIT 2.4(G).
(ih) The Administrative Agent may suspend During the Borrowers right to request Loans, SwingLine Loans, or L/Cs immediately, in which eventcontinuance of any Suspension Event, neither the Administrative Agent on behalf of the Tranche A Lenders, the Tranche A Lenders, the Swingline Lender nor any the Tranche B Lender shall be obligated during such suspension, to make any loan loans or advanceadvances, or to provide any financial accommodation hereunder or hereunder, to seek the issuance of issue any L/C.
(ii) The Administrative Agent may suspend the right C, or to accept any request of the Borrowers’ Representative to request Lead Borrower that any Libor Eurodollar Loan be made or to convert any Base Margin Loan be converted to a Libor Eurodollar Loan.
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