Manner of Borrowing Loans. Borrowings under the credit facility established pursuant to Section 1 hereof shall be as follows:
Manner of Borrowing Loans. 8 3.2 Payments.......................................................................................10 3.3 Application of Payments and Collections........................................................11
Manner of Borrowing Loans. The Borrower shall give the Agent prior written or telephonic notice no later than 1:00 p.m. (Atlanta time) on the date of the requested borrowing. Such notice shall be irrevocable and shall specify the aggregate amount of the proposed borrowing and the date thereof (which shall be a Banking Day). Such notice, to be effective, must be received by the Agent by the time specified in the first sentence of this subsection (c). Such notice shall specify the total amount of the Loan requested from the Lenders. On the borrowing date specified in such notice, NationsBank shall make such borrowing available to the Borrower in immediately available funds. On the last Banking Day of each week the Agent shall notify the Lenders of the amounts then outstanding under the Loans, at which time the Lenders will pay each other such amounts as are necessary to ensure that the amounts outstanding under the Loans are shared pro rata by the Lenders based upon their respective Commitments. The Borrower hereby agrees that such payments shall represent debits and credits to their loan accounts; provided, however, after the occurrence of an Event of Default hereunder, unless waived by all of the Lenders (i) the Agent shall promptly notify the Lenders that it has received notice from the Borrower of a proposed borrowing pursuant to this paragraph, (ii) on the borrowing date specified in such notice, each Lender shall make its ratable share of such borrowing available to the Borrower at the offices of the Agent in immediately available funds provided all of the Lenders have elected in their sole discretion to fund such borrowing, and (iii) the Agent shall pay to the Lenders their pro rata share of all amounts collected on the Loans promptly after the receipt thereof by the Agent; provided further, if the Lenders are prevented from funding any of the proposed borrowings on account of the institution of any bankruptcy proceeding by or against the Borrower, the Lenders agree to purchase participations in the Loans of the other Lenders to ensure that the amounts outstanding to the Lenders on account of the Loans are shared pro rata based upon their respective Commitment.
Manner of Borrowing Loans. 10 3.2 Payments.....................................................12 3.3
Manner of Borrowing Loans. Borrowings under the credit facility established pursuant to SECTION 1 shall be as follows:
Manner of Borrowing Loans. (a) The relevant Borrower shall give the Agent notice (which may be written or oral, but if oral, promptly confirmed in writing) by 12:00 Noon Chicago time on any Business Day of each request that any Loan be made to such Borrower under the Commitments specifying the amount of each such Loan, and the Agent shall notify (which may be written or oral, but if oral, promptly confirmed in writing) each Lender of its receipt of each such notice and the contents thereof no later than 2:00 p.m. Chicago time on the Business Day any Loan constituting part of the Domestic Rate Portion is to be made and by 2:00 p.m. Chicago time on the Business Day it receives such a request for any Loan constituting a part of a LIBOR Portion. Each Loan from each Lender shall initially constitute part of a Domestic Rate Portion except to the extent the relevant Borrower has otherwise timely elected otherwise as provided in Section 2 hereof. Not later than 3:00 p.m. Chicago time on the date specified for any Loan to be made by a Lender hereunder, such Lender shall make the proceeds of its Loan available to the Agent in Chicago in immediately available funds. Subject to all of the terms and conditions hereof, the proceeds of each Loan shall be made available to the relevant Borrower at the office of the Agent in Chicago upon receipt by the Agent from each Lender of its pro rata share of such Loan. The Agent shall give prompt telephonic or telecopy notice to the Borrower and each Lender by like means of the interest rate applicable to each Eurodollar Loan (but, if such notice is given by telephone, the Agent shall confirm such rate in writing) promptly after the Agent has made such determination.
Manner of Borrowing Loans. The following Section 2.1(D) is hereby added to the Agreement, as follows:
Manner of Borrowing Loans. 15 3.1.1 LOAN REQUESTS.........................................................................15 3.1.2 DISBURSEMENT..........................................................................17 3.1.3 AUTHORIZATION.........................................................................17 3.2 PAYMENTS.......................................................................................17 3.2.1 PRINCIPAL.............................................................................17 3.2.2 INTEREST..............................................................................18 3.2.3 COSTS, FEES AND CHARGES...............................................................18 3.2.4
Manner of Borrowing Loans. 8 ------------------------- 3.1.1. Loan Requests........................................................................... 8 ------------- 3.1.2. Disbursement............................................................................ 8 ------------ 3.1.3. Authorization........................................................................... 9 ------------- 3.1.4. Letter of Credit and LC Guaranty Requests............................................... 9 ----------------------------------------- 3.1.5. Method of Making Requests............................................................... 9 ------------------------- 3.2. Payments........................................................................................ 9 -------- 3.2.1. Principal............................................................................... 10 --------- 3.2.2. Interest................................................................................ 10 -------- 3.2.3. Revolving Credit Maturity Date.......................................................... 10 ------------------------------ 3.2.4. Costs, Fees and Charges................................................................. 10 ----------------------- 3.2.5. Other Obligations....................................................................... 10 ----------------- 3.3. Mandatory Payments; Proceeds of Sale, Loss, Destruction or Condemnation of Collateral........... 11 ------------------------------------------------------------------------------------- 3.4. Accounts Receivable Management.................................................................. 11 ------------------------------ 3.4.1. Account Verification.................................................................... 11 -------------------- 3.4.2. Dominion of Cash........................................................................ 11 ---------------- 3.4.3. Collection of Accounts Proceeds of Collateral........................................... 11 --------------------------------------------- 3.5. Application of Payments and Collections......................................................... 12 --------------------------------------- 3.6. All Loans to Constitute One Obligation.......................................................... 12 -------------------------------------- 3.7.
Manner of Borrowing Loans. In accordance with Section 4 of Part IV of the TM Services Agreement, Revolving Loan shall be advanced at any time that the daily balance in the Borrower’s demand deposit account number xxxx2372 (or such other demand deposit account specified by the Lender from time to time in writing) falls below Zero Dollars ($0.00) and the principal amount of such Revolving Loan shall be the amount necessary, rounded to the nearest Dollar, to bring the balance in such demand deposit account to an amount in excess of Zero Dollars ($0.00); provided, however that the principal amount of such Revolving Loan shall not be less than Five Thousand Dollars ($5,000).
