Common use of Making the Loans Clause in Contracts

Making the Loans. (i) Each Loan shall be made on notice given no later than 10:00 a.m. on the Closing Date (or such later time as may be agreed by Administrative Agent in its sole discretion) by Borrower to Administrative Agent, who shall give to each applicable Lender prompt notice thereof. (ii) Such notice (a “Notice of Borrowing”) shall be irrevocable and shall be in writing in substantially the form of Exhibit A, signed by Borrower, specifying therein (x) the requested date of the Loans, (y) the type and amount of such Loans and (z) the account to which such Loans shall be made. (b) Each Lender shall, before 1:00 p.m. on the Closing Date, make available for the account of its Lending Office to Administrative Agent (to an account designated by Administrative Agent), in immediately available funds, such Lender’s Applicable Percentage of such Loans. After Administrative Agent’s (or its Affiliate’s) receipt of such funds and upon fulfillment of the applicable conditions set forth in Section 3.01, Administrative Agent (or its Affiliate) will make such funds as it has received available to Borrower by depositing such funds into the Collateral Account; provided that Administrative Agent (or its Affiliate) may net any Loan due to Borrower against any amount payable hereunder.