Common use of Making the Contract Advances Clause in Contracts

Making the Contract Advances. (a) Each Contract Borrowing shall be made on notice, given (i) in the case of a Borrowing consisting of Alternate Base Rate Advances, not later than 10:30 a.m. (New York City time) on the day of the proposed Borrowing; (ii) in the case of a Borrowing consisting of Adjusted CD Rate Advances, not later than noon (New York City time) on the second Business Day prior to the day of the proposed Borrowing; and (iii) in the case of a Borrowing consisting of Eurodollar Rate Contract Advances, not later than noon (New York City time) on the third Business Day prior to the date of the proposed Borrowing, by the Borrower to the Administrative Agent, which shall give to each Bank prompt notice thereof by telecopy. Each such notice of a Contract Borrowing (a “Notice of Contract Borrowing”) shall be in substantially the form of Exhibit A-1 hereto, specifying therein the requested (i) date of such Contract Borrowing, (ii) Type of Contract Advances comprising such Contract Borrowing, (iii) aggregate amount of such Contract Borrowing and (iv) Interest Period. Each Bank shall, before noon (New York City time) on the date of any such Contract Borrowing, make available for the account of its Applicable Lending Office to the Administrative Agent at its address referred to in Section 8.02, in same-day funds, such Bank’s ratable portion of such Contract Borrowing. Upon the Administrative Agent’s receipt of such funds and upon fulfillment of the applicable conditions set forth in Article III, the Administrative Agent will make such funds available to the Borrower at the Administrative Agent’s aforesaid address.

Appears in 4 contracts

Samples: Revolving Credit Agreement (Union Pacific Corp), Credit Agreement (Union Pacific Corp), Credit Agreement (Union Pacific Corp)

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Making the Contract Advances. (a) Each Contract Borrowing (other than pursuant to a Conversion) shall be made on notice, given (i) in the case of a Borrowing consisting of Alternate Base Rate Advances, not later than 10:30 a.m. 10:00 A.M. (New York City time) on the day of the proposed Borrowing; (ii) in the case of a Borrowing consisting of Adjusted CD Rate Advances, not later than noon (New York City time) on the second Business Day prior to the day of the proposed Borrowing; and (iii) in the case of a Borrowing consisting of Eurodollar Rate Contract Advances, not later than noon (New York City Chicago time) on the third Business Day prior to the date of any proposed Contract Borrowing comprising Eurodollar Rate Advances, on the second Business Day prior to the date of any proposed BorrowingContract Borrowing comprising Adjusted CD Rate Advances and on the date of any proposed Contract Borrowing comprising Base Rate Advances, by the Borrower to the Administrative Agent, which shall give to each Bank Lender prompt notice thereof by telecopythereof. Each such notice of a Contract Borrowing (a "Notice of a Contract Borrowing") shall be sent by telecopier, telex or cable, confirmed immediately in writing, in substantially the form of Exhibit A-1 B-1 hereto, specifying therein the requested (i) date of such Contract Borrowing, (ii) Type of Contract Advances comprising to be made in connection with such Contract Borrowing, (iii) aggregate amount of such Contract Borrowing Borrowing, and (iv) in the case of a Contract Borrowing comprising Adjusted CD Rate Advances or Eurodollar Rate Advances, initial Interest PeriodPeriod for the Contract Advances to be made in connection with such Contract Borrowing. Each Bank Lender shall, before noon 11:00 A.M. (New York City Chicago time) on the date of any such Contract Borrowing, make available for the account of its Applicable Lending Office to the Administrative Agent at its address referred to in Section 8.02, in same-same day funds, such Bank’s Lender's ratable portion of such Contract Borrowing. Upon After the Administrative Agent’s 's receipt of such funds and upon fulfillment of the applicable conditions set forth in Article III, the Administrative Agent will make such funds available to the Borrower at the Administrative Agent’s 's aforesaid address.

Appears in 2 contracts

Samples: Credit Agreement (Peco Energy Co), Revolving Credit Agreement (Peco Energy Co)

Making the Contract Advances. (a) Each Contract Borrowing shall be made on notice, given (i) in the case of a Borrowing consisting of Alternate Base Rate Advances, not later than 10:30 11:00 a.m. (New York City time) on the day of the proposed Borrowing; (ii) in the case of a Borrowing consisting of Adjusted CD Rate Advances, not later than noon (New York City time) on the second Business Day prior to the day date of the proposed Borrowing; and (iiiii) in the case of a Borrowing consisting of Eurodollar Rate Contract Advances, not later than noon 11:00 a.m. (New York City time) on the third Business Day prior to the date of the proposed Contract Borrowing, by the Borrower to the Administrative Agent, which shall give to each Bank prompt notice thereof by cable or telecopy. Each such notice of a Contract Borrowing (a "Notice of Contract Borrowing") shall be in substantially the form of Exhibit A-1 hereto, specifying therein the requested (i) date of such Contract Borrowing, (ii) Type of Contract Advances comprising such Contract Borrowing, (iii) aggregate amount of such Contract Borrowing and (iv) Interest Period. Each Bank shall, before 12:00 noon (New York City time) on the date of any such Contract Borrowing, make available for the account of its Applicable Lending Office to the Administrative Agent at its address referred to in Section 8.02, in same-same day funds, such Bank’s 's ratable portion of such Contract Borrowing. Upon the Administrative Agent’s 's receipt of such funds and upon fulfillment of the applicable conditions set forth in Article III, the Administrative Agent will make such funds available to the Borrower at the Administrative Agent’s 's aforesaid address.

Appears in 2 contracts

Samples: Union Pacific Resources Group Inc, Union Pacific Resources Group Inc

Making the Contract Advances. (a) Each Contract Borrowing shall be made on notice, given not later than (i) in the case of a Borrowing consisting of Alternate Base Rate Advances, not later than 10:30 a.m. 10:00 A.M. (New York City time) on the day of the proposed Borrowing; (ii) in the case of a Borrowing consisting of Adjusted CD Rate Advances, not later than noon (New York City time) on the second Business Day prior to the day of the proposed Borrowing; and (iii) in the case of a Borrowing consisting of Eurodollar Rate Contract Advances, not later than noon (New York City Chicago time) on the third Business Day prior to the date of any proposed Contract Borrowing comprising Eurodollar Rate Advances or Adjusted CD Rate Advances, and (ii) 9:00 A.M. (Chicago time) on the date of any proposed BorrowingContract Borrowing comprising Base Rate Advances, by the Borrower to the Administrative Agent, which shall give to each Bank Lender prompt notice thereof by telecopythereof; provided, that the Lenders will, to the extent feasible to transfer funds and fund in the relevant market, fund the initial Contract Borrowing on less notice in order to accommodate the needs of the Borrower in refunding borrowings outstanding under the Existing Credit Agreements. Each such notice of a Contract Borrowing (a "Notice of Contract Borrowing") shall be by telecopier, telex or cable, confirmed immediately in writing, in substantially the form of Exhibit A-1 B-1 hereto, specifying therein the requested (i) date of such Contract Borrowing, (ii) Type of Contract Advances comprising to be made in connection with such Contract Borrowing, (iii) aggregate amount of such Contract Borrowing Borrowing, and (iv) in the case of a Contract Borrowing comprising Adjusted CD Rate Advances or Eurodollar Rate Advances, initial Interest PeriodPeriod for each such Contract Advance. Each Bank Lender shall, before noon 11:00 A.M. (New York City Chicago time) on the date of any such Contract Borrowing, make available for the account of its Applicable Lending Office to the Administrative Agent at its address referred to in Section 8.02, in same-same day funds, such Bank’s Lender's ratable portion (according to the Lenders' respective Commitments) of such Contract Borrowing. Upon After the Administrative Agent’s 's receipt of such funds and upon fulfillment of the applicable conditions set forth in Article III, the Administrative Agent will make such funds available to the Borrower at the Administrative Agent’s 's aforesaid address.

Appears in 2 contracts

Samples: Louisville Gas & Electric Co /Ky/, Louisville Gas & Electric Co /Ky/

Making the Contract Advances. (a) Each Contract Borrowing shall be made on notice, given (i) in the case of a Borrowing consisting of Alternate Base Rate Advances, not later than 10:30 a.m. (New York City time) on the day of the proposed Borrowing; (ii) in the case of a Borrowing consisting of Adjusted CD Rate Advances, not later than noon 10:30 a.m. (New York City time) on the second Business Day prior to the day of the proposed Borrowing; and (iii) in the case of a Borrowing consisting of Eurodollar Rate Contract Advances, not later than noon 10:30 a.m. (New York City time) on the third Business Day prior to the date of the proposed Contract Borrowing, by the Borrower to the Administrative Agent, which shall give to each Bank prompt notice thereof by cable or telecopy. Each such notice of a Contract Borrowing (a “Notice of Contract Borrowing”"NOTICE OF CONTRACT BORROWING") shall be in substantially the form of Exhibit EXHIBIT A-1 hereto, specifying therein the requested (i) date of such Contract Borrowing, (ii) Type of Contract Advances comprising such Contract Borrowing, (iii) aggregate amount of such Contract Borrowing and (iv) Interest Period. Each Bank shall, before 12:00 noon (New York City time) on the date of any such Contract Borrowing, make available for the account of its Applicable Lending Office to the Administrative Agent at its address referred to in Section SECTION 8.02, in same-same day funds, such Bank’s 's ratable portion of such Contract Borrowing. Upon the Administrative Agent’s 's receipt of such funds and upon fulfillment of the applicable conditions set forth in Article ARTICLE III, the Administrative Agent will make such funds available to the Borrower at the Administrative Agent’s 's aforesaid address.

Appears in 1 contract

Samples: Credit Agreement (Union Pacific Resources Group Inc)

Making the Contract Advances. (a) Each Contract Borrowing shall be made on notice, given (i) in the case of a Contract Borrowing consisting of Alternate Base comprising Eurodollar Rate Advances, not later than 10:30 a.m. (New York City time) on the day of the proposed Borrowing; (ii) in the case of a Borrowing consisting of Adjusted CD Rate Advances, not later than noon (New York City time) on the second Business Day prior to the day of the proposed Borrowing; and (iii) in the case of a Borrowing consisting of Eurodollar Rate Contract Advances, not later than noon 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Contract Borrowing, and (ii) in the case of a Contract Borrowing comprising Base Rate Advances, not later than 11:00 A.M. (New York City time) on the date of the proposed Contract Borrowing, by the Borrower to the Administrative Agent, which shall give to each Bank Lender prompt notice thereof by telecopythereof. Each such notice of a Contract Borrowing (a "Notice of Contract Borrowing") shall be transmitted by telecopier, telex or cable, confirmed immediately in writing, in substantially the form of Exhibit A-1 B-1 hereto, specifying therein the requested (iA) date of such Contract Borrowing, (iiB) Type of Contract Advances comprising to be made in connection with such Contract Borrowing, (iiiC) aggregate amount of such Contract Borrowing Borrowing, and (ivD) in the case of a Contract Borrowing comprising Eurodollar Rate Advances, initial Interest PeriodPeriod for each such Contract Advance. Each Bank Lender shall, before (x) 12:00 noon (New York City time) on the date of any such Contract BorrowingBorrowing comprising Eurodollar Rate Advances, and (y) 1:00 P.M. (New York City time) on the date of any Contract Borrowing comprising Base Rate Advances, make available for the account of its Applicable Lending Office to the Administrative Agent at its address referred to in Section 8.02, in same-same day funds, such Bank’s Lender's ratable portion of such Contract Borrowing. Upon After the Administrative Agent’s 's receipt of such funds and upon fulfillment of the applicable conditions set forth in Article III, the Administrative Agent will make such funds available to the Borrower at the Administrative Agent’s 's aforesaid address.

Appears in 1 contract

Samples: Credit Agreement (System Energy Resources Inc)

Making the Contract Advances. (a) Each Contract Borrowing shall be made on notice, given (i) in the case of a Contract Borrowing consisting of Alternate Base comprising Adjusted CD Rate Advances or Eurodollar Rate Advances, not later than 10:30 a.m. (New York City time) on the day of the proposed Borrowing; (ii) in the case of a Borrowing consisting of Adjusted CD Rate Advances, not later than noon (New York City time) on the second Business Day prior to the day of the proposed Borrowing; and (iii) in the case of a Borrowing consisting of Eurodollar Rate Contract Advances, not later than noon 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Contract Borrowing, and (i) in the case of a Contract Borrowing comprising Base Rate Advances, not later than 11:00 A.M. (New York City time) on the date of the proposed Contract Borrowing, by the Borrower to the Administrative Agent, which shall give to each Bank Lender prompt notice thereof by telecopythereof. Each such notice of a Contract Borrowing (a Notice of Contract Borrowing”Borrowing ) shall be by telecopier, telex or cable, confirmed immediately in writing, in substantially the form of Exhibit A-1 B-1 hereto, specifying therein the requested (iA) date of such Contract Borrowing, (iiA) Type of Contract Advances comprising to be made in connection with such Contract Borrowing, (iiiA) aggregate amount of such Contract Borrowing Borrowing, and (ivA) in the case of a Contract Borrowing comprising Adjusted CD Rate Advances or Eurodollar Rate Advances, initial Interest PeriodPeriod for each such Contract Advance. Each Bank Lender shall, before (x) 12:00 noon (New York City time) on the date of any such Contract BorrowingBorrowing comprising Adjusted CD Rate Advances or Eurodollar Rate Advances, and (y) 1:00 P.M. (New York City time) on the date of any Contract Borrowing comprising Base Rate Advances, make available for the account of its Applicable Lending Office to the Administrative Agent at its address referred to in Section 8.02, in same-same day funds, such Bank’s Lender s ratable portion of such Contract Borrowing. Upon After the Administrative Agent’s Agent s receipt of such funds and upon fulfillment of the applicable conditions set forth in Article III, the Administrative Agent will make such funds available to the Borrower at the Administrative Agent’s Agent s aforesaid address.

Appears in 1 contract

Samples: Credit Agreement (System Energy Resources Inc)

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Making the Contract Advances. (a) Each Contract Borrowing shall be made on notice, given (i) in the case of a Contract Borrowing consisting of Alternate Base comprising Adjusted CD Rate Advances or Eurodollar Rate Advances, not later than 10:30 a.m. (New York City time) on the day of the proposed Borrowing; (ii) in the case of a Borrowing consisting of Adjusted CD Rate Advances, not later than noon (New York City time) on the second Business Day prior to the day of the proposed Borrowing; and (iii) in the case of a Borrowing consisting of Eurodollar Rate Contract Advances, not later than noon 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Contract Borrowing, and (ii) in the case of a Contract Borrowing comprising Base Rate Advances, not later than 11:00 A.M. (New York City time) on the date of the proposed Contract Borrowing, by the Borrower to the Administrative Agent, which shall give to each Bank Lender prompt notice thereof by telecopythereof. Each such notice of a Contract Borrowing (a Notice of Contract Borrowing”Borrowing ) shall be by telecopier, telex or cable, confirmed immediately in writing, in substantially the form of Exhibit A-1 B-1 hereto, specifying therein the requested (iA) date of such Contract Borrowing, (iiB) Type of Contract Advances comprising to be made in connection with such Contract Borrowing, (iii) c aggregate amount of such Contract Borrowing Borrowing, and (ivD) in the case of a Contract Borrowing comprising Adjusted CD Rate Advances or Eurodollar Rate Advances, initial Interest PeriodPeriod for each such Contract Advance. Each Bank Lender shall, before (x) 12:00 noon (New York City time) on the date of any such Contract BorrowingBorrowing comprising Adjusted CD Rate Advances or Eurodollar Rate Advances, and (y) 1:00 P.M. (New York City time) on the date of any Contract Borrowing comprising Base Rate Advances, make available for the account of its Applicable Lending Office to the Administrative Agent at its address referred to in Section 8.02, in same-same day funds, such Bank’s Lender's ratable portion of such Contract Borrowing. Upon After the Administrative Agent’s 's receipt of such funds and upon fulfillment of the applicable conditions set forth in Article III, the Administrative Agent will make such funds available to the Borrower at the Administrative Agent’s 's aforesaid address. (b) Each Notice of Contract Borrowing shall be irrevocable and binding on the Borrower. In the case of any Notice of Contract Borrowing requesting Adjusted CD Rate Advances or Eurodollar Rate Advances, the Borrower shall indemnify each Lender against any loss, cost or expense incurred by such Lender as a result of any failure to fulfill on or before the date specified in such Notice of Contract Borrowing for such Contract Borrowing the applicable conditions set forth in Article III, including, without limitation, any loss, cost or expense incurred by reason of the liquidation or reemployment of deposits or other funds acquired by such Lender to fund the Contract Advance to be made by such Lender as part of such Contract Borrowing when such Contract Advance, as a result of such failure, is not made on such date. (c) Unless the Agent shall have received notice from a Lender prior to the date of any Contract Borrowing that such Lender will not make available to the Agent such Lender's ratable portion of such Contract Borrowing, the Agent may assume that such Lender has made such portion available to the Agent on the date of such Contract Borrowing in accordance with subsection (a) of this Section 2.02 and the Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Lender shall not have so made such ratable portion available to the Agent, such Lender and the Borrower (following the Agent's demand on such Lender for the corresponding amount) severally agree to repay to the Agent forthwith on demand such corresponding amount together with interest thereon, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Agent, at (i) in the case of the Borrower, the interest rate applicable at the time to Contract Advances made in connection with such Contract Borrowing and (ii) in the case of such Lender, the Federal Funds Rate. If such Lender shall repay to the Agent such corresponding amount, such amount so repaid shall constitute such Lender's Contract Advance as part of such Contract Borrowing for purposes of this Agreement. (d) The failure of any Lender to make the Contract Advance to be made by it as part of any Contract Borrowing shall not relieve any other Lender of its obligation, if any, hereunder to make its Contract Advance on the date of such Contract Borrowing, but no Lender shall be responsible for the failure of any other Lender to make the Contract Advance to be made by such other Lender on the date of any Contract Borrowing.

Appears in 1 contract

Samples: Credit Agreement (Entergy Corp /De/)

Making the Contract Advances. (a) Each Contract Borrowing shall be made on notice, given (i) in the case of a Contract Borrowing consisting of Alternate Base comprising Adjusted CD Rate Advances or Eurodollar Rate Advances, not later than 10:30 a.m. (New York City time) on the day of the proposed Borrowing; (ii) in the case of a Borrowing consisting of Adjusted CD Rate Advances, not later than noon (New York City time) on the second Business Day prior to the day of the proposed Borrowing; and (iii) in the case of a Borrowing consisting of Eurodollar Rate Contract Advances, not later than noon 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Contract Borrowing, and (ii) in the case of a Contract Borrowing comprising Base Rate Advances, not later than 11:00 A.M. (New York City time) on the date of the proposed Contract Borrowing, by the applicable Borrower to the Administrative Agent, which shall give to each Bank Lender prompt notice thereof by telecopythereof. Each such notice of a Contract Borrowing (a "Notice of Contract Borrowing") shall be by telecopier, telex or cable, confirmed immediately in writing, in substantially the form of Exhibit A-1 B-1 hereto, specifying therein the requested (iA) date of such Contract Borrowing, (iiB) Type of Contract Advances comprising to be made in connection with such Contract Borrowing, (iiiC) aggregate amount of such Contract Borrowing Borrowing, and (ivD) in the case of a Contract Borrowing comprising Adjusted CD Rate Advances or Eurodollar Rate Advances, initial Interest PeriodPeriod for each such Contract Advance. Each Bank Lender shall, before (x) 12:00 noon (New York City time) on the date of any such Contract BorrowingBorrowing comprising Adjusted CD Rate Advances or Eurodollar Rate Advances, and (y) 1:00 P.M. (New York City time) on the date of any Contract Borrowing comprising Base Rate Advances, make available for the account of its Applicable Lending Office to the Administrative Agent at its address referred to in Section 8.029.02, in same-same day funds, such Bank’s Lender's ratable portion of such Contract Borrowing. Upon After the Administrative Agent’s 's receipt of such funds and upon fulfillment of the applicable conditions set forth in Article III, the Administrative Agent will make such funds available to the applicable Borrower at the Administrative Agent’s 's aforesaid address.

Appears in 1 contract

Samples: Credit Agreement (System Energy Resources Inc)

Making the Contract Advances. (a) Each Contract Borrowing shall be made on notice, given (i) in the case of a Borrowing consisting of Alternate Base Rate Advances, not later than 10:30 a.m. (New York City time) on the day of the proposed Borrowing; (ii) in the case of a Borrowing consisting of Adjusted CD Rate Advances, not later than noon 10:30 a.m. (New York City time) on the second Business Day prior to the day of the proposed Borrowing; and (iii) in the case of a Borrowing consisting of Eurodollar Rate Contract Advances, not later than noon 10:30 a.m. (New York City time) on the third Business Day prior to the date of the proposed Contract Borrowing, by the Borrower to the Administrative Agent, which shall give to each Bank prompt notice thereof by cable or telecopy. Each such notice of a Contract Borrowing (a "Notice of Contract Borrowing") shall be in substantially the form of Exhibit A-1 hereto, specifying therein the requested (i) date of such Contract Borrowing, (ii) Type of Contract Advances comprising such Contract Borrowing, (iii) aggregate amount of such Contract Borrowing and (iv) Interest Period. Each Bank shall, before 12:00 noon (New York City time) on the date of any such Contract Borrowing, make available for the account of its Applicable Lending Office to the Administrative Agent at its address referred to in Section 8.02, in same-same day funds, such Bank’s 's ratable portion of such Contract Borrowing. Upon the Administrative Agent’s 's receipt of such funds and upon fulfillment of the applicable conditions set forth in Article III, the Administrative Agent will make such funds available to the Borrower at the Administrative Agent’s 's aforesaid address.

Appears in 1 contract

Samples: Assignment and Acceptance Agreement (Union Pacific Resources Group Inc)

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