Common use of Making the Loans Clause in Contracts

Making the Loans. The Borrower shall give Agent prior telephone notice (immediately confirmed in writing, in substantially the form of Exhibit G hereto (a "Notice of --------- Borrowing")), not later than 9:00 a.m. (New York City time) five Business Days --------- prior to the date of the proposed Loan. Such Notice of Borrowing shall be irrevocable and shall specify (i) the principal amount of the proposed Loan, (ii) the use of the proceeds of such proposed Loan, and (iii) the proposed borrowing date, which must be a Business Day, and must be on or promptly after the Effective Date (and after the entry of the Final Bankruptcy Court Order in the case of the second funding of Term Loan A). Agent may act without liability upon the basis of written, telecopied or telephonic notice believed by the Agent in good faith to be from the Borrower (or from any Authorized Officer thereof designated in writing purportedly from the Borrower to Agent). The Borrower hereby waives the right to dispute Agent's record of the terms of any such telephonic Notice of Borrowing. Each Notice of Borrowing shall be irrevocable and binding on the Borrower. Agent on behalf of the Lender Group will make the proceeds of such Loan available to the Borrower on the day of the proposed Loan by causing an amount, in immediately available funds, to be deposited in an account designated by the Borrower to Agent at a commercial bank reasonably satisfactory to Agent.

Appears in 1 contract

Samples: Financing Agreement (Gulf States Steel Inc /Al/)

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Making the Loans. The Borrower shall give the Administrative Agent prior telephone written notice (immediately confirmed in writing, in substantially the form of Exhibit G C hereto (a "Notice of --------- Borrowing")), not later than 9:00 12:00 noon (New York City time) on the date which is 3 Business Days (or, in the case of the Initial Term Loans 10:00 a.m. (New York City time) five on the date which is 1 Business Days --------- Day) prior to the date of the proposed Loan (or such shorter period as the Administrative Agent is willing to accommodate from time to time, but in no event later than 10:00 a.m. (New York City time) on the borrowing date of the proposed Loan). Such Notice of Borrowing shall be irrevocable and shall specify (i) the principal amount of the proposed Loan, (ii) in the case of Loans requested on the Effective Date, whether the Loan is requested to be a Reference Rate Loan or a SOFR Rate Loan, (iii) the use of the proceeds of such proposed Loan, and (iiiiv) the proposed borrowing date, which must be a Business Day, and and, with respect to the Initial Term Loan, must be on or promptly after the Effective Date (Date. The Administrative Agent and after the entry of the Final Bankruptcy Court Order in the case of the second funding of Term Loan A). Agent Lenders may act without liability upon the basis of written, telecopied or telephonic notice believed by the Administrative Agent in good faith to be from the Borrower (or from any Authorized Officer thereof designated in writing purportedly from the Borrower to the Administrative Agent). The Borrower hereby waives the right to dispute the Administrative Agent's ’s record of the terms of any such telephonic Notice of Borrowing. Each Notice of Borrowing The Administrative Agent and each Lender shall be irrevocable and binding entitled to rely conclusively on the Borrower. Agent any Authorized Officer’s authority to request a Loan on behalf of the Lender Group will make Borrower until the proceeds of such Loan available Administrative Agent receives written notice to the Borrower on contrary. The Administrative Agent and the day Lenders shall have no duty to verify the authenticity of the proposed Loan by causing an amount, in immediately available funds, to be deposited in an account designated by the Borrower to Agent at a commercial bank reasonably satisfactory to Agentsignature appearing on any written Notice of Borrowing.

Appears in 1 contract

Samples: Financing Agreement (Beachbody Company, Inc.)

Making the Loans. The Borrower shall give the Administrative Agent prior telephone notice (immediately confirmed in writing, in substantially the form of Exhibit G C hereto (a "Notice of --------- Borrowing"))”) or such other form approved by the Administrative Agent, not later than 9:00 a.m. 12:00 noon (New York City time) five on the date which is (i) in the case of the Term Loan, three (3) Business Days --------- prior to the Effective Date and (ii) three (3) Business Days prior to the date of the proposed Revolving Loan (or such shorter period as the Administrative Agent is willing to accommodate from time to time, but in no event later than 12:00 noon (New York City time) on the borrowing date of the proposed Loan). Such Notice of Borrowing shall be irrevocable and shall specify (i) the principal amount of the proposed Loan, (ii) whether such Loan is requested to be a Revolving Loan or the Term Loan, (iii) whether the Loan is requested to be a Reference Rate Loan or a SOFR Loan, (iv) the use of the proceeds of such proposed Loan, (v) Borrower’s account wiring instructions, and (iiivi) the proposed borrowing date, which must be a Business Day, and and, with respect to the Term Loan, must be on or promptly after the Effective Date (Date. The Administrative Agent and after the entry of the Final Bankruptcy Court Order in the case of the second funding of Term Loan A). Agent Lenders may act without liability upon the basis of written, telecopied or telephonic written notice believed by the Administrative Agent in good faith to be from the Borrower (or from any Authorized Officer thereof designated in writing purportedly from the Borrower to the Administrative Agent). The Borrower hereby waives the right to dispute the Administrative Agent's ’s record of the terms of any such telephonic Notice of Borrowing. Each Notice of Borrowing shall be irrevocable and binding on the Borrower. Agent on behalf of the Lender Group will make the proceeds of such Loan available to the Borrower on the day of the proposed Loan by causing an amount, in immediately available funds, to be deposited in an account designated by the Borrower to Agent at a commercial bank reasonably satisfactory to Agent.of

Appears in 1 contract

Samples: Financing Agreement (AgileThought, Inc.)

Making the Loans. The Administrative Borrower shall give the Administrative Agent prior telephone telephonic notice (immediately confirmed in writing, in substantially the form of Exhibit G C hereto (a "Notice of --------- Borrowing")), not later than 9:00 12:00 noon (New York City time) on the date which is three (3) Business Days prior to the date of the proposed Loan (or such shorter period as the Administrative Agent is willing to accommodate from time to time, but in no event later than 10:00 a.m. (New York City time) five Business Days --------- prior to on the borrowing date of the proposed Loan). Such Notice of Borrowing shall be irrevocable and shall specify (i) the principal amount of the proposed Loan, (ii) the use of the proceeds of such proposed LoanLoan (which may be for general working capital purposes), and (iii) the proposed borrowing date, which must be a Business Day, . The Administrative Agent and must be on or promptly after the Effective Date (and after the entry of the Final Bankruptcy Court Order in the case of the second funding of Term Loan A). Agent Lenders may act without liability upon the basis of written, telecopied or telephonic notice believed by the Administrative Agent in good faith to be from the Administrative Borrower (or from any Authorized Officer thereof designated in writing purportedly from the Administrative Borrower to the Administrative Agent). The Each Borrower hereby waives the right to dispute the Administrative Agent's record of the terms of any such telephonic Notice of Borrowing. Each Notice of Borrowing The Administrative Agent and each Lender shall be irrevocable and binding entitled to rely conclusively on the Borrower. Agent any Authorized Officer's authority to request a Loan on behalf of the Borrowers until the Administrative Agent receives written notice to the contrary, provided that the Administrative Agent and each Lender Group will make shall be entitled to rely conclusively on such authority before the proceeds date of receipt of such Loan available notice. The Administrative Agent and the Lenders shall have no duty to verify the Borrower on the day authenticity of the proposed Loan by causing an amount, in immediately available funds, to be deposited in an account designated by the Borrower to Agent at a commercial bank reasonably satisfactory to Agentsignature appearing on any written Notice of Borrowing.

Appears in 1 contract

Samples: Financing Agreement (Foster Wheeler LTD)

Making the Loans. (a) The Borrower shall give the Administrative Agent prior telephone notice (immediately confirmed in writing, in substantially the form of Exhibit G C hereto (a "Notice of --------- Borrowing"))”) or such other form approved by the Administrative Agent, not later than 9:00 a.m. 12:00 noon (New York City time) five on the date which is (i) in the case of the Initial Term Loan, three (3) Business Days --------- prior to the Effective Date, (ii) three (3) Business Days prior to the date of the proposed Revolving Loan (or such shorter period as the Administrative Agent is willing to accommodate from time to time, but in no event later than 12:00 noon (New York City time) on the borrowing date of the proposed Loan), or (iii) in the case of the Additional Term Loan, the Amendment No. 6 Effective Date, or (iv) in the case of any 2023 Incremental Revolving Loan, in accordance with Section 5.03(c)(iii). Such Notice of Borrowing shall be irrevocable and shall specify (i) the principal amount of the proposed Loan, and, with respect to any 2023 Incremental Revolving Loan, shall be $3,000,000, (ii) whether such Loan is requested to be a Revolving Loan, the Initial Term Loan or the Additional Term Loan, (iii) whether the Loan is requested to be a Reference Rate Loan or a SOFR Loan, (iv) the use of the proceeds of such proposed Loan, (v) Borrower’s account wiring instructions (which, in the case of the 2023 Incremental Revolving Loan, shall be the Blocked Account wiring instructions), and (iiivi) the proposed borrowing date, which must be a Business Day, and and, with respect to the Initial Term Loan, must be on or promptly after the Effective Date (and after the entry of the Final Bankruptcy Court Order in the case of the second funding of Term Loan A). Agent may act without liability upon the basis of writtenand, telecopied or telephonic notice believed by the Agent in good faith to be from the Borrower (or from any Authorized Officer thereof designated in writing purportedly from the Borrower to Agent). The Borrower hereby waives the right to dispute Agent's record of the terms of any such telephonic Notice of Borrowing. Each Notice of Borrowing shall be irrevocable and binding on the Borrower. Agent on behalf of the Lender Group will make the proceeds of such Loan available with respect to the Borrower on Additional Term Loan, must be the day of the proposed Loan by causing an amount, in immediately available funds, to be deposited in an account designated by the Borrower to Agent at a commercial bank reasonably satisfactory to Agent.Amendment No. 6

Appears in 1 contract

Samples: Financing Agreement (AgileThought, Inc.)

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Making the Loans. The Borrower Administrative Borrower, on behalf of itself or any other Borrower, shall give the Agent prior written or telephone notice (immediately which notice, if requested by the Agent, must be promptly confirmed in writing, writing in substantially the form of Exhibit G I hereto (a "Notice of --------- Borrowing")), ) (i) not later than 9:00 a.m. 12:00 noon (New York City time) five Business Days --------- prior to on the date of the proposed Loanborrowing, in the case of a borrowing consisting of Prime Rate Loans, or (ii) not later than 12:00 noon (New York City time) three Business Days prior to such proposed borrowing in the case of a borrowing consisting of Eurodollar Loans, provided that Eurodollar Loans will only be made on the first Business Day of a month. Such Notice of Borrowing shall be irrevocable and shall specify (i) the principal amount of the proposed borrowing (which, in the case of a Eurodollar Loan, (ii) must be in a minimum amount of $1,500,000 and in multiples of $500,000 in excess thereof), whether such Loan is requested to be a Prime Rate Loan or a Eurodollar Loan and, in the use case of the proceeds of such proposed a Eurodollar Loan, the initial Interest Period for such Eurodollar Loan and (iii) the proposed borrowing date, which must be a Business DayDay and, and must be on or promptly after the Effective Date (and after the entry of the Final Bankruptcy Court Order in the case of a Eurodollar Loan, the second funding first Business Day of Term a month, and, if the Agent agrees in its sole and absolute discretion to make such Loan A)to a Borrower, such Borrower shall be bound to make a borrowing in accordance therewith. The Agent may act without liability upon the basis of written, telecopied telecopy or telephonic telephone notice believed by the Agent in good faith to be from the Administrative Borrower (or from any Authorized Officer officer thereof designated in writing purportedly from to the Borrower to Agent). The Borrower , and the Borrowers hereby waives waive the right to dispute the Agent's record of the terms of any such telephonic Notice of Borrowing. Each Notice of Borrowing shall be irrevocable and binding on the Borrower. Agent on behalf of the Lender Group will make the proceeds of such Loan available to the Borrower on the day of the proposed Loan by causing an amount, in immediately available funds, to be deposited in an account designated by the Borrower to Agent at a commercial bank reasonably satisfactory to Agent."

Appears in 1 contract

Samples: Financing Agreement (Happy Kids Inc)

Making the Loans. The Borrower shall give the Administrative Agent prior telephone written notice (immediately confirmed in writing, in substantially the form of Exhibit G C hereto (a "Notice of --------- Borrowing")), not later than 9:00 12:00 noon (New York City time) on the date which is 3 Business Days (or, in the case of the Initial Term Loans 10:00 a.m. (New York City time) five on the date which is 1 Business Days --------- Day) prior to the date of the proposed Loan (or such shorter period as the Administrative Agent is willing to accommodate from time to time, but in no event later than 10:00 a.m. (New York City time) on the borrowing date of the proposed Loan). Such Notice of Borrowing shall be irrevocable and shall specify (i) the principal amount of the proposed Loan, (ii) in the case of Loans requested on the Effective Date, whether the Loan is requested to be a Reference Rate Loan or a SOFR Rate Loan, (iii) the use of the proceeds of such proposed Loan, and (iiiiv) the proposed borrowing date, which must be a Business Day, and and, with respect to the Initial Term Loan, must be on or promptly after the Effective Date (Date. The Administrative Agent and after the entry of the Final Bankruptcy Court Order in the case of the second funding of Term Loan A). Agent Lenders may act without liability upon the basis of written, telecopied or telephonic notice believed by the Administrative Agent in good faith to be from the Borrower (or from any Authorized Officer thereof xxxxxxx designated in writing purportedly from the Borrower to the Administrative Agent). The Borrower hereby waives the right to dispute the Administrative Agent's ’s record of the terms of any such telephonic Notice of Borrowing. Each Notice of Borrowing The Administrative Agent and each Lender shall be irrevocable and binding entitled to rely conclusively on the Borrower. Agent any Authorized Officer’s authority to request a Loan on behalf of the Lender Group will make Borrower until the proceeds of such Loan available Administrative Agent receives written notice to the Borrower on contrary. The Administrative Agent and the day Lenders shall have no duty to verify the authenticity of the proposed Loan by causing an amount, in immediately available funds, to be deposited in an account designated by the Borrower to Agent at a commercial bank reasonably satisfactory to Agentsignature appearing on any written Notice of Borrowing.

Appears in 1 contract

Samples: Financing Agreement (Beachbody Company, Inc.)

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