Common use of Loans-General Clause in Contracts

Loans-General. (a) Subject to the terms and conditions set forth in this Agreement, at any time and from time to time commencing on the Closing Date through the Maturity Date, each Lender shall, pro rata according to that Lender's Pro Rata Share of the then applicable Commitment, make Advances to Borrower under the Commitment in such amounts as Borrower may request that do not result in the aggregate principal amount outstanding under the Notes to exceed the Commitment. Subject to the limitations set forth herein, Borrower may borrow, repay and reborrow under the Commitment without premium or penalty. (b) [Intentionally Omitted.] (c) [Intentionally Omitted.] (d) Each Loan shall be made pursuant to a Request for Loan which shall specify the requested (i) date of such Loan, (ii) type of Loan, (iii) amount of such Loan, and (iv) in the case of a Eurodollar Rate Loan, the Eurodollar Period for such Loan. (e) Promptly following receipt of a Request for Loan, the Administrative Agent shall notify each Lender by telecopier of the date and type of the Loan, the applicable Eurodollar Period, and that Lender's Pro Rata Share of the Loan. Not later than 10:00 a.m., California time, on the date specified for any Loan (which must be a Banking Day), each Lender shall make its Pro Rata Share of the Loan in immediately available funds available to the Administrative Agent at the Administrative Agent's Office. Upon satisfaction or waiver of the applicable conditions set forth in Article 8, all Advances shall be made available to Borrower on that date by such means as it may request in immediately available funds. (f) Unless the Requisite Lenders otherwise consent, each Base Rate Loan shall be not less than $1,000,000 and in an integral multiple of $1,000,000 and each Eurodollar Rate Loan shall be not less than $5,000,000 and in an integral multiple of $1,000,000. (g) [Intentionally Omitted]. (h) The Advances made by each Lender under the Commitment shall be evidenced by that Lender's Note. (i) A Request for Loan shall be irrevocable upon the Administrative Agent's first notification thereof. (j) If no Request for Loan has been made within the requisite notice periods set forth in Section 2.2 or 2.3 prior to the end of the Eurodollar Period for any outstanding Eurodollar Rate Loan, then on the last day of such Eurodollar Period, such Eurodollar Rate Loan shall be automatically converted into a Base Rate Loan in the same amount.

Appears in 2 contracts

Samples: Revolving Loan Agreement (Usec Inc), Revolving Loan Agreement (Usec Inc)

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Loans-General. (a) Subject to the terms and conditions set forth in this Agreement, at any time and from time to time commencing on from the Closing Date through the Maturity Date, each Lender shall, pro rata according to that LenderXxxxxx's Pro Rata Share of the then applicable CommitmentShare, make Advances Loans to Borrower under the Commitment in such amounts as Borrower may request that do not result exceed in the aggregate at any one time outstanding that Xxxxxx's Pro Rata Share; provided that, giving effect to -------- the requested Loan, the aggregate outstanding principal amount outstanding under balance of the Notes to Loans plus the Letter of Credit Usage plus the Permitted Stock Repurchase ---- ---- Adjustment Amount shall not exceed the Commitment. Subject to the limitations set forth hereinherein (including, without limitation, the requirements of Section 3.6(d)), Borrower may borrow, repay and reborrow under the Commitment without premium or penalty. As of the Closing Date, the Existing Credit Agreement is deemed terminated and the loans outstanding thereunder refinanced by the initial Loans hereunder. (b) [Intentionally Omitted.] (c) [Intentionally Omitted.] (d) Each Subject to the next sentence, each Loan shall be made pursuant to a written Request for Loan which shall specify the requested (i) the requested date of such Loan, (ii) type of whether such Loan is to be a Base Rate Loan or a Eurodollar Rate Loan, (iii) the amount of such Loan, and (iv) in the case of a Eurodollar Rate Loan, the Eurodollar Period for such Loan if such Loan is to be a Eurodollar Rate Loan. (ec) Promptly following receipt of a Request for Loan, the Administrative Agent shall notify each Lender having a Pro Rata Share under which such Loan is requested by telephone or telecopier of the date and type of the Loan, the applicable Eurodollar Period, and that LenderXxxxxx's Pro Rata Share of the Loan. Not later than 10:00 11:00 a.m., California Los Angeles time, on the date specified for any Loan (which must be a Banking Day)Loan, each Lender shall make its Pro Rata Share of the that Loan in immediately available funds available to the Administrative Agent at the Administrative Agent's OfficeOffice in immediately available funds. Upon satisfaction or waiver fulfilment of the applicable conditions set forth in Article 8, all Advances the Loan shall be made available to Borrower on that date by such means as it may request credited in immediately available fundsfunds to the Funding Account. (fd) Unless the Requisite Lenders otherwise consent, (i) each Base Rate Loan shall be not less than $1,000,000 and in an integral multiple of $1,000,000 100,000 which is not less than $500,000 and (ii) each Eurodollar Rate Loan shall be not less than $5,000,000 and in an integral multiple of $100,000 which is not less than $1,000,000. (ge) [Intentionally Omitted]If no Request for Loan has been delivered within the requisite notice periods set forth in Sections 2.2 or 2.3 in connection with a Loan which, if made, would not increase the outstanding principal amount of the Obligations, then Borrower shall be deemed to have requested, as of the date upon which the related then outstanding Loan is due pursuant to Section 3.1(d)(i) and not paid, a Base Rate Loan in an amount equal to the amount necessary to cause the outstanding principal amount of the Obligations to remain the same and the Lenders shall make the Loans necessary to make such Loan notwithstanding Borrower's failure to deliver a Request for Loan or other notice required by Sections 2.1(b), 2.2 and 2.3. (hf) The Advances made by each Lender under Unless the Commitment Administrative Agent otherwise consents, no more than eight Eurodollar Rate Loans shall be evidenced by that Lender's Noteoutstanding at any one time. (ig) A Request for Loan shall be irrevocable upon the Administrative Agent's first notification thereof. (j) If no Request for Loan has been made within the requisite notice periods set forth in Section 2.2 or 2.3 prior to the end of the Eurodollar Period for any outstanding Eurodollar Rate Loan, then on the last day of such Eurodollar Period, such Eurodollar Rate Loan shall be automatically converted into a Base Rate Loan in the same amount.

Appears in 1 contract

Samples: Loan Agreement (Korn Ferry International)

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Loans-General. (a) Subject to the terms and conditions set forth in this Agreement, at any time and from time to time commencing on from the Closing Date through the Maturity Revolver Termination Date, each Lender shall, pro rata according to that Lender's Pro Rata Share of the then applicable Commitment, make Advances to Borrower under the Commitment in such amounts as Borrower may request that do not result in the aggregate principal amount outstanding under the Notes to exceed the Commitment. Subject to the limitations set forth herein, Borrower may borrow, repay and reborrow under the Commitment without premium or penalty. (b) [Intentionally Omitted.] (c) [Intentionally Omitted.] (d) Each Subject to the next sentence, each Loan shall be made pursuant to a Request for Loan which shall specify the requested (i) date of such Loan, (ii) type of Loan, (iii) amount of such Loan, and (iv) in the case of a Eurodollar Rate Loan, the Eurodollar Period for such Loan. Unless the Administrative Agent has notified, in its sole and absolute discretion, Borrower to the contrary, a Loan may be requested by telephone by a Responsible Official of Borrower, in which case Borrower shall confirm such request by promptly delivering a Request for Loan (conforming to the preceding sentence) in person or by telecopier to the Administrative Agent. Administrative Agent shall incur no liability whatsoever hereunder in acting upon any telephonic request for Loan purportedly made by a Responsible Official of Borrower, and Borrower hereby agrees to indemnify the Administrative Agent from any loss, cost, expense or liability as a result of so acting. (ec) Promptly following receipt of a Request for Loan, the Administrative Agent shall notify each Lender by telephone or telecopier (and if by telephone, promptly confirmed by telecopier) of the date and type of the Loan, the applicable Eurodollar Period, and that Lender's Pro Rata Share of the Loan. Not later than 10:00 a.m., California time, on the date specified for any Loan (which must be a Banking Day), each Lender shall make its Pro Rata Share of the Loan in immediately available funds available to the Administrative Agent at the Administrative Agent's Office. Upon satisfaction or waiver of the applicable conditions set forth in Article 8, all Advances shall be made available to Borrower credited on that date by such means as it may request in immediately --------- available fundsfunds to the Designated Deposit Account. (fd) Unless the Requisite Lenders otherwise consent, each Alternate Base Rate Loan shall be not less than $1,000,000, each Eurodollar Rate Loan shall be not less than $1,000,000 and all Loans shall be in an integral multiple of $1,000,000 and each Eurodollar Rate Loan shall be not less than $5,000,000 and in an integral multiple of $1,000,000500,000. (g) [Intentionally Omitted]. (he) The Advances made by each Lender under the Commitment shall be evidenced by that Lender's Note. (if) A Request for Loan shall be irrevocable upon the Administrative Agent's first notification thereof. (jg) If no Request for Loan (or telephonic request for Loan referred to in the second sentence of Section 2.1(b), if applicable) has ------ been made within the requisite notice periods set forth in Section 2.2 or --- 2.3 prior to the end of the Eurodollar Period for any outstanding --- Eurodollar Rate Loan, then on the last day of such Eurodollar Period, such Eurodollar Rate Loan shall be automatically converted into a an Alternate Base Rate Loan in the same amount.

Appears in 1 contract

Samples: Revolving/Term Loan Agreement (Data Processing Resources Corp)

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