Common use of Making the Revolving Loans Clause in Contracts

Making the Revolving Loans. (a) Each borrowing of a Revolving Loan shall be made on telephonic notice (immediately confirmed in writing) given to the Lender by the Borrowers not later than 11:00 a.m., Boston time, on the Business Day of the proposed borrowing. Each such notice of a borrowing (a "Notice of Borrowing") shall be irrevocable and shall specify (A) the requested date of such borrowing and (B) the amount of such borrowing, which shall be in an amount equal to $10,000 or an integral multiple thereof. A Notice of Borrowing shall be deemed to have been made upon presentation to the Lender of a check drawn on the Borrowers' account(s) at the Lender (a "Check Request"). (b) Without in any way limiting the Borrowers' obligation to confirm in writing any Notice of Borrowing, the Lender may act without liability upon the basis of telephonic notice believed by the Lender in good faith to be from the Borrowers prior to receipt of written confirmation thereof. In each such case, the Borrowers hereby waive the right to dispute the Lender's record of the terms of such telephonic Notice of Borrowing, except for the Lender's manifest error. (c) The Lender will make available each requested Revolving Loan to the Borrower by crediting the proceeds thereof to the Borrowers' operating account at the Payment Office on the date and in the amount set forth in the applicable Notice of Borrowing or Check Request.

Appears in 2 contracts

Samples: Revolving Credit and Term Loan Agreement (Ambi Inc), Revolving Credit and Term Loan Agreement (Ambi Inc)

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Making the Revolving Loans. (a) Each borrowing of a Revolving Loan shall be made on telephonic upon written notice (immediately confirmed in writing) form and substance satisfactory to the Lender, a “Notice of Borrowing”), given by the Borrower to the Lender by the Borrowers not no later than 11:00 a.m., Boston 12:00 noon (New York City time, ) on the Business Day of the proposed borrowingborrowing date thereof. Each such notice of a borrowing (a "Notice of Borrowing") Borrowing shall be irrevocable and shall specify therein (A) the requested date of such proposed borrowing and date, which shall be a Business Day, (B) the principal amount of such borrowing, which shall be Revolving Loan and (C) the duration of the initial Interest Period therefor. Upon fulfillment of the applicable conditions set forth in an amount equal to $10,000 Section 5 hereof (or an integral multiple thereof. A Notice of Borrowing shall be deemed to have been made upon presentation to the waiver thereof by the Lender of a check drawn on the Borrowers' account(s) at the Lender (a "Check Request"as herein prescribed). (b) Without in any way limiting the Borrowers' obligation to confirm in writing any Notice of Borrowing, the Lender may act without liability upon will make the basis of telephonic notice believed by the Lender in good faith to be from the Borrowers prior to receipt of written confirmation thereof. In each such case, the Borrowers hereby waive the right to dispute the Lender's record of the terms proceeds of such telephonic Notice of Borrowing, except for the Lender's manifest error. (c) The Lender will make available each requested Revolving Loan available to the Borrower by crediting in same day funds at the proceeds thereof Lender’s office at 0000 Xxxxxx xx xxx Xxxxxxxx, Xxx Xxxx, XX 00000, or at such other place as the Lender shall designate in writing to the Borrowers' operating account at Borrower. The Lender shall notify the Payment Office Borrower of the Applicable Spread with respect to such Revolving Loan on or prior to the date and in end of the amount set forth in first Interest Period with respect to such Revolving Loan; provided that the applicable Notice Lender’s failure to notify the Borrower of Borrowing the Applicable Spread shall not affect the validity of such Revolving Loan or Check Requestany obligations of the Borrower hereunder or under any Loan Document.

Appears in 1 contract

Samples: Revolving Credit Agreement (Talbots Inc)

Making the Revolving Loans. Borrower may borrow under the Commitment on any Business Day if the Revolving Loan is to be a Prime Rate Loan and on any Eurodollar Business Day if the Revolving Loan is to be a Eurodollar Rate Loan, provided Borrower shall give Bank irrevocable notice in the form of Exhibit A (awhich notice -10- 14 must be received by Bank prior to 9:00 A.M., San Francisco time) Each (i) three Eurodollar Business Days prior to the requested borrowing date in the case of a Revolving Loan shall be made on telephonic notice Eurodollar Rate Loan, and (immediately confirmed in writingii) given to the Lender by the Borrowers not later than 11:00 a.m., Boston time, on the Business Day of the proposed borrowing. Each such notice requested borrowing in the case of a borrowing (a "Notice of Borrowing") shall be irrevocable and shall specify Prime Rate Loan, specifying (A) the amount of the proposed Revolving Loan, (B) the requested date of such borrowing the Revolving Loan, (C) whether the Revolving Loan is to consist of a Prime Rate Loan or a Eurodollar Rate Loan, and (BD) if the amount Revolving Loan is to be a Eurodollar Rate Loan, the length of the Interest Period therefor. Upon satisfaction of the applicable conditions set forth in this Section and in Article IV, the proceeds of such borrowingRevolving Loan will then be made available to Borrower by Bank by crediting the account of Borrower on the books of Bank, which or as otherwise directed by Borrower. The notice of Revolving Loan may be given orally (including telephonically) or in writing (including telex or facsimile transmission) and any conflict regarding a notice or between an oral notice and a written notice applicable to the same Revolving Loan shall be conclusively determined by Bank's books and records. Bank shall not incur any liability to Borrower in an amount equal to $10,000 or an integral multiple thereof. A Notice acting upon any notice of Borrowing shall be deemed to have been made upon presentation to the Lender of a check drawn on the Borrowers' account(s) at the Lender (a "Check Request"). (b) Without in any way limiting the Borrowers' obligation to confirm in writing any Notice of Borrowing, the Lender may act without liability upon the basis of telephonic notice believed by the Lender Revolving Loan which Bank believes in good faith to be from the Borrowers prior have been given by a Person duly authorized to receipt give such notice on behalf of written confirmation thereof. In each such case, the Borrowers hereby waive the right to dispute the Lender's record of the terms of such telephonic Notice of Borrowing, except for the Lender's manifest errorBorrower. (c) The Lender will make available each requested Revolving Loan to the Borrower by crediting the proceeds thereof to the Borrowers' operating account at the Payment Office on the date and in the amount set forth in the applicable Notice of Borrowing or Check Request.

Appears in 1 contract

Samples: Credit Agreement (Komag Inc /De/)

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Making the Revolving Loans. (a) Each borrowing of a Revolving Loan shall be made on telephonic upon written notice (immediately confirmed in writing) form and substance satisfactory to the Lender, a “Notice of Borrowing”), given by the Borrower to the Lender by the Borrowers not no later than 11:00 a.m., Boston 12:00 noon (New York City time, ) on the Business Day of the proposed borrowingborrowing date thereof. Each such notice of a borrowing (a "Notice of Borrowing") Borrowing shall be irrevocable and shall specify therein (A) the requested date of such proposed borrowing and date, which shall be a Business Day, (B) the principal amount of such borrowing, which shall be Revolving Loan and (C) the duration of the initial Interest Period therefor. Upon fulfillment of the applicable conditions set forth in an amount equal to $10,000 Section 5 hereof (or an integral multiple thereof. A Notice of Borrowing shall be deemed to have been made upon presentation to the waiver thereof by the Lender of a check drawn on the Borrowers' account(s) at the Lender (a "Check Request"as herein prescribed). (b) Without in any way limiting the Borrowers' obligation to confirm in writing any Notice of Borrowing, the Lender may act without liability upon will make the basis of telephonic notice believed by the Lender in good faith to be from the Borrowers prior to receipt of written confirmation thereof. In each such case, the Borrowers hereby waive the right to dispute the Lender's record of the terms proceeds of such telephonic Notice of Borrowing, except for the Lender's manifest error. (c) The Lender will make available each requested Revolving Loan available to the Borrower by crediting in same day funds at the proceeds thereof Lender’s office at XXX XXXXXXX XXXXX, XXXXXXX, XX 00000, or at such other place as the Lender shall designate in writing to the Borrowers' operating account at Borrower. The Lender shall notify the Payment Office Borrower of the Applicable Spread with respect to such Revolving Loan on or prior to the date and in end of the amount set forth in first Interest Period with respect to such Revolving Loan; provided that the applicable Notice Lender’s failure to notify the Borrower of Borrowing the Applicable Spread shall not affect the validity of such Revolving Loan or Check Requestany obligations of the Borrower hereunder or under any Loan Document.

Appears in 1 contract

Samples: Revolving Credit Agreement (Talbots Inc)

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