Common use of Manner of Borrowing and Disbursement Clause in Contracts

Manner of Borrowing and Disbursement. (a) Choice of Interest Rate, Etc. Any Advance hereunder shall, ----------------------------- at the option of the requesting Borrower, be made as a Base Rate Advance or a LIBOR Advance; provided, however, that at such time as there shall have -------- ------- occurred and be continuing a Default hereunder, neither Borrower shall have the right to receive a LIBOR Advance. Any notice given to the Administrative Agent in connection with a requested Advance hereunder shall be given to the Administrative Agent prior to 11:00 a.m. (New York, New York time) in order for such Business Day to count toward the minimum number of Business Days required.

Appears in 1 contract

Samples: Loan Agreement (American Tower Corp /Ma/)

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Manner of Borrowing and Disbursement. (a) Choice of Interest Rate, Etc. Any Advance hereunder shall, ----------------------------- at the option of the requesting Borrower, be made as a Base Rate Advance or a LIBOR Advance; provided, however, that at such time as there shall have -------- ------- occurred and be continuing a Default hereunder, neither Borrower none of the Borrowers shall have the right to receive or Continue a LIBOR Advance or to Convert a Base Rate Advance to a LIBOR Advance. Any notice given to the Administrative Agent in connection with a requested Advance hereunder shall be given to the Administrative Agent prior to 11:00 a.m. (New York, New York time) in order for such Business Day to count toward the minimum number of Business Days required.

Appears in 1 contract

Samples: Loan Agreement (American Tower Corp /Ma/)

Manner of Borrowing and Disbursement. (a) Choice of Interest Rate, Etc. Any Advance hereunder shall, at ----------------------------- at the option of the requesting Borrower, be made as a Base Rate Advance or a LIBOR Advance; provided, however, that at such time as there shall have occurred and -------- ------- occurred and be continuing a Default hereunder, neither Borrower shall have the right to receive a LIBOR Advance. Any notice given to the Administrative Agent in connection with a requested Advance hereunder shall be given to the Administrative Agent prior to 11:00 a.m. (New York, New York time) in order for such Business Day to count toward the minimum number of Business Days required.

Appears in 1 contract

Samples: Loan Agreement (American Tower Corp /Ma/)

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Manner of Borrowing and Disbursement. (a) Choice of Interest Rate, Etc. Any Advance hereunder shall, ----------------------------- at the ---------------------------- option of the requesting Borrower, be made as a Base Rate Advance or a LIBOR Advance; provided, however, that at such time as there shall have -------- ------- occurred and be -------- ------- continuing a Default hereunder, neither the Borrower shall not have the right to receive a LIBOR Advance. Any notice given to the Administrative Agent in connection with a requested Advance hereunder shall be given to the Administrative Agent prior to 11:00 a.m. (New York, New York time) in order for such Business Day to count toward the minimum number of Business Days required.

Appears in 1 contract

Samples: Parent Loan Agreement (American Tower Corp /Ma/)

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