Manner of Borrowing and Funding Loans Sample Clauses

Manner of Borrowing and Funding Loans. 2.8.1.1. Subject to the provisions of Section 2.7 of this Agreement, upon approval by the Agent of any Proposed Property and/or Proposed Entity, Borrower may request a Borrowing in connection with such approved Proposed Property and/or Proposed Entity. Additionally, subject to the provisions of Section 2.9 and Section 7 of this Agreement, the Borrower may request a Borrowing in connection for general corporate purposes from time to time (and without satisfaction of the conditions set forth in Section 2.7 of this Agreement). In order to request any such Borrowing, Borrower shall give Agent a Request for Advance. Such Request for Advance must be received by Agent no later than 11:00 a.m., Eastern Standard Time, at least one (1) Business Day prior to the requested funding date in the case of LIBOR Loans. Notices received after 11:00 a.m. shall be deemed received on the next Business Day. Each Request for Advance shall be irrevocable and shall specify (A) the amount of the Borrowing, and (B) the requested funding date (which must be a Business Day). 2.8.1.2. Unless payment is otherwise timely made by Borrower, the becoming due of any Obligations (whether principal, interest, fees or other charges, including Extraordinary Expenses), shall be deemed to be a request for the continuance of the LIBOR Loan on the due date, in the amount of such Obligations, all in accordance with the terms of the Notes. The proceeds of such Loans shall be disbursed as direct payment of the relevant Obligation. In addition, Agent may, at its option, charge such Obligations against any operating, investment or other account of a Borrower maintained with Agent or any of its affiliates. 2.8.1.3. If Borrower establishes a controlled disbursement account with Agent or any affiliate of Agent, then the presentation for payment of any check or other item of payment drawn on such account at a time when there are insufficient funds to cover it shall be deemed to be a request for LIBOR Loans on the date of such presentation, in the amount of the check and items presented for payment. The proceeds of such Loans may be disbursed directly to the controlled disbursement account or other appropriate account. 2.8.1.4. Borrower authorizes Agent and Lenders to extend or continue Loans, and transfer funds to or on behalf of Borrower based on telephonic or e-mailed instructions. Borrower shall confirm each such request by prompt delivery to Agent of a Request for Advance, if applicable, but if it differs...
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Manner of Borrowing and Funding Loans. 4.1.1. Notice of Borrowing. (a) Whenever (x) U.S. Borrowers desire funding of a Borrowing of U.S. Revolver Loans, Borrower Agent shall give Administrative Agent, and (y) Canadian Borrower desires funding of a Borrowing of Canadian Loans, Canadian Borrower shall give Canadian Agent, a Notice of Borrowing. Such notice must be received by the Applicable Agent (i) no later than 11:00 a1:00 p.m.
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Manner of Borrowing and Funding Loans. 92 4.2 Defaulting Lender 95
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Manner of Borrowing and Funding Loans. Borrowings under the ------------------------------------- Commitments established pursuant to Section 1 hereof shall be made and funded as follows:
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Manner of Borrowing and Funding Loans. TC “ 4.1 Manner of Borrowing and Funding Loans. “ \f c \l “2” \* MERGEFORMAT AUTONF D3_TC
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Manner of Borrowing and Funding Loans 
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Related to Manner of Borrowing and Funding Loans

  • Funding of Borrowings (a) Each Lender shall make each Loan to be made by it hereunder on the proposed date thereof by wire transfer of immediately available funds by 12:00 noon, Local Time, to the account of the Administrative Agent most recently designated by it for such purpose by notice to the Lenders; provided, that Swingline Loans shall be made as provided in Section 2.04. The Administrative Agent will make such Loans available to the Borrower by promptly crediting the amounts so received, in like funds, to an account of the Borrower as specified in the applicable Borrowing Request; provided, that ABR Revolving Loans and Swingline Borrowings made to finance the reimbursement of a L/C Disbursement and reimbursements as provided in Section 2.05(e) shall be remitted by the Administrative Agent to the applicable Issuing Bank. (b) Unless the Administrative Agent shall have received notice from a Lender prior to the proposed date of any Borrowing that such Lender will not make available to the Administrative Agent such Lender’s share of such Borrowing, the Administrative Agent may assume that such Lender has made such share available on such date in accordance with clause (a) of this Section and may, in reliance upon such assumption, make available to the Borrower a corresponding amount. In such event, if a Lender has not in fact made its share of the Borrowing available to the Administrative Agent, then the applicable Lender and the Borrower severally agree to pay to the Administrative Agent forthwith on demand (without duplication) such corresponding amount with interest thereon, for each day from and including the date such amount is made available to the Borrower to but excluding the date of payment to the Administrative Agent, at (i) in the case of a payment to be made by such Lender, the greater of (A) the Federal Funds Effective Rate and (B) a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation or (ii) in the case of a payment to be made by the Borrower, the interest rate applicable to ABR Loans at such time. If the Borrower and such Lender shall pay such interest to the Administrative Agent for the same or an overlapping period, the Administrative Agent shall promptly remit to the Borrower the amount of such interest paid by the Borrower for such period. If such Lender pays such amount to the Administrative Agent, then such amount shall constitute such Lender’s Loan included in such Borrowing. Any payment by the Borrower shall be without prejudice to any claim the Borrower may have against a Lender that shall have failed to make such payment to the Administrative Agent. (c) The foregoing notwithstanding, the Administrative Agent, in its sole discretion, may from its own funds make a Revolving Facility Loan on behalf of the Lenders (including by means of Swingline Loans to the Borrower). In such event, the applicable Lenders on behalf of whom the Administrative Agent made the Revolving Facility Loan shall reimburse the Administrative Agent for all or any portion of such Revolving Facility Loan made on its behalf upon written notice given to each applicable Lender not later than 2:00 p.m., Local Time, on the Business Day such reimbursement is requested. The entire amount of interest attributable to such Revolving Facility Loan for the period from and including the date on which such Revolving Facility Loan was made on such Lender’s behalf to but excluding the date the Administrative Agent is reimbursed in respect of such Revolving Facility Loan by such Lender shall be paid to the Administrative Agent for its own account.

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