Common use of Making the Revolving Loans Clause in Contracts

Making the Revolving Loans. Each Revolving Loan shall be made upon written notice (in form and substance satisfactory to the Lender, a “Notice of Borrowing”), given by the Borrower to the Lender no later than 12:00 noon (New York City time) on the proposed borrowing date thereof. Each Notice of Borrowing shall be irrevocable and shall specify therein (A) the proposed borrowing date, which shall be a Business Day, (B) the principal amount of such Revolving Loan and (C) the duration of the initial Interest Period therefor. Upon fulfillment of the applicable conditions set forth in Section 5 hereof (or the waiver thereof by the Lender as herein prescribed), the Lender will make the proceeds of such Revolving Loan available to the Borrower in same day funds at the Lender’s office at XXX XXXXXXX XXXXX, XXXXXXX, XX 00000, or at such other place as the Lender shall designate in writing to the Borrower. The Lender shall notify the Borrower of the Applicable Spread with respect to such Revolving Loan on or prior to the end of the first Interest Period with respect to such Revolving Loan; provided that the Lender’s failure to notify the Borrower of the Applicable Spread shall not affect the validity of such Revolving Loan or any obligations of the Borrower hereunder or under any Loan Document.

Appears in 1 contract

Samples: Revolving Credit Agreement (Talbots Inc)

AutoNDA by SimpleDocs

Making the Revolving Loans. Each Revolving Loan shall be made upon written notice (notice, in form and substance satisfactory to the Lender, Lender (a “Notice of Borrowing”), given by the Borrower to the Lender no later than 12:00 noon 11:00 a.m. (New York City time) on the proposed borrowing date Borrowing Date thereof. Each Notice of Borrowing shall be irrevocable and shall specify therein (A) the proposed borrowing dateBorrowing Date, which shall be a Business Day, (B) the principal amount of such the requested Revolving Loan and (C) the duration of the initial Interest Period thereforPeriod. Upon fulfillment of the applicable conditions set forth in Section 5 hereof (or the waiver thereof by the Lender as herein prescribed), the Lender will make the proceeds of such Revolving Loan available to the Borrower in same day funds to the Borrower’s account with the Lender maintained at the Lender’s office at XXX XXXXXXX XXXXX, XXXXXXX, XX 00000New York Branch, or at such other place as the Lender shall designate in writing to the Borrower. The Lender shall notify the Borrower of the Applicable Spread with respect to such Revolving Loan on or prior to the end commencement of the first Interest Period with respect to such Revolving Loan; provided that the Lender’s failure to notify the Borrower of the Applicable Spread shall not affect the validity of such Revolving Loan or any obligations of the Borrower hereunder or under any Loan Document.

Appears in 1 contract

Samples: Revolving Credit Agreement (Talbots Inc)

Making the Revolving Loans. Each Revolving Loan shall be made upon written notice (in form and substance satisfactory to the Lender, a “Notice of Borrowing”), given by the Borrower to the Lender no later than 12:00 noon (New York City time) on one Business Day prior to the proposed borrowing date thereof. Each Notice of Borrowing shall be irrevocable and shall specify therein (A) the proposed borrowing date, which shall be a Business Day, (B) the principal amount of such Revolving Loan and (C) the duration of the initial Interest Period therefor. Upon fulfillment of the applicable conditions set forth in Section 5 hereof (or the waiver thereof by the Lender as herein prescribed), the Lender will make the proceeds of such Revolving Loan available to the Borrower in same day funds on the Borrowing Date by crediting the Borrower’s deposit account at the Lender’s office at XXX XXXXXXX XXXXX, XXXXXXX, XX 00000Bank of Tokyo-Mitsubishi UFJ Trust Company, or at such other place as the Lender shall designate in writing to the BorrowerBorrower by 3:00 p.m., New York City time, on the borrowing date. The Lender shall notify the Borrower of the Applicable Spread with respect to such Revolving Loan on or prior to the end of the first Interest Period Borrowing Date with respect to such Revolving Loan; provided that the Lender’s failure to notify the Borrower of the Applicable Spread shall not affect the validity of such Revolving Loan or any obligations of the Borrower hereunder or under any Loan Document.

Appears in 1 contract

Samples: Revolving Credit Agreement (Talbots Inc)

AutoNDA by SimpleDocs

Making the Revolving Loans. Each Revolving Loan shall be made upon written notice (in form and substance satisfactory to the Lender, a “Notice of Borrowing”), given by the Borrower to the Lender no later than 12:00 noon (New York City time) on the proposed borrowing date thereof. Each Notice of Borrowing shall be irrevocable and shall specify therein (A) the proposed borrowing date, which shall be a Business Day, (B) the principal amount of such Revolving Loan and (C) the duration of the initial Interest Period therefor. Upon fulfillment of the applicable conditions set forth in Section 5 hereof (or the waiver thereof by the Lender as herein prescribed), the Lender will make the proceeds of such Revolving Loan available to the Borrower in same day funds at the Lender’s office at XXX XXXXXXX XXXXX0000 Xxxxxx xx xxx Xxxxxxxx, XXXXXXXXxx Xxxx, XX 00000, or at such other place as the Lender shall designate in writing to the Borrower. The Lender shall notify the Borrower of the Applicable Spread with respect to such Revolving Loan on or prior to the end of the first Interest Period with respect to such Revolving Loan; provided that the Lender’s failure to notify the Borrower of the Applicable Spread shall not affect the validity of such Revolving Loan or any obligations of the Borrower hereunder or under any Loan Document.

Appears in 1 contract

Samples: Revolving Credit Agreement (Talbots Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!