Common use of Mechanics of Revolving Credit Loans Clause in Contracts

Mechanics of Revolving Credit Loans. Each Revolving Credit Loan shall be made by the Lenders, severally in accordance with their respective Commitments and in such amounts (not in excess of the Maximum Line Commitment) as the Borrower shall request. Revolving Credit Loans shall be effected at the principal banking office of the Agent at 00 Xxxxx Xxxxxx, Xxxxxx, Xxxxxxxxxxxxx 00000-0000, and shall be made at such times as the Borrower may request upon one (1) Banking Day’s prior notice to the Agent in the case of any borrowing for which interest is calculated using the Base Rate (collectively, “Base Rate Loans”) and three (3) Banking Days’ prior notice in the case of any borrowing for which interest is calculated using the LIBOR Rate (collectively, “LIBOR Portions”). Each borrowing request shall be in the form attached hereto as Exhibit E (the “Borrowing Request”). Each Borrowing Request may be sent to the Agent by facsimile. The Lenders will use their best efforts to fund requests for Revolving Credit Loans on the requested Banking Day. In the event that notwithstanding its best efforts, the Lenders are unable to fund a requested Revolving Credit Loan on the requested Banking Day, the Lenders shall have no liability whatsoever for such failure to fund and will fund such Revolving Credit Loan on the next Banking Day. The Lenders shall make each Revolving Credit Loan hereunder by crediting the amount of such Revolving Credit Loan to the Borrower’s operating account (Account No. 0000000) with the Agent (together with any other account from time to time designated by the Borrower for the purpose of effecting Revolving Credit Loans, the “Operating Account”).

Mechanics of Revolving Credit Loans. Each Revolving Credit Loan shall be made by the Lenders, severally in accordance with their respective Commitments and in such amounts (not in excess of the Maximum Line Commitment) as the Borrower shall request. Revolving Credit Loans shall be effected at the principal banking office of the Agent at 00 Xxxxx Xxxxxx, Xxxxxx, Xxxxxxxxxxxxx 00000-0000, and shall be made at such times as the Borrower may request upon one (1) Banking Day’s prior notice to the Agent in the case of any borrowing for which interest is calculated using the Base Rate (collectively, “Base Rate Loans”) and three (3) Banking Days’ prior notice in the case of any borrowing (x) for which interest is calculated using the LIBOR Rate (collectively, “LIBOR Portions”)) or (y) which is borrowing in Eurocurrency. Each borrowing request for the Revolving Credit Loans which are not in Eurocurrency shall be in the form attached hereto as Exhibit E (the “Borrowing Request”). Each borrowing request for a Eurocurrency Loan (“Eurocurrency Borrowing Request”) shall be in the form required in Section 1.2(d)(2) below. Each Borrowing Request and each Eurocurrency Borrowing Request may be sent to the Agent by facsimile. The Lenders will use their best efforts to fund requests for Revolving Credit Loans on the Banking Day requested Banking Dayby the Borrower in accordance with the terms hereof. In the event that notwithstanding its best efforts, the Lenders are unable to fund a requested Revolving Credit Loan on the Banking Day requested Banking Dayby the Borrower in accordance with the terms hereof, the Lenders shall have no liability whatsoever for such failure to fund on the requested Banking Day and will fund such Revolving Credit Loan (a) on the next Banking DayDay in the case such Revolving Credit Loan accrues interest based upon the Base Rate or the LIBOR Rate and (b) if possible on the next Banking Day in the case of Eurocurrency Loans. The Lenders shall make each Revolving Credit Loan which is not a Eurocurrency Loan hereunder by crediting the amount of such Revolving Credit Loan to the Borrower’s operating account (Account No. 0000000) with the Agent (together with any other account from time to time designated by the Borrower for the purpose of effecting Revolving Credit Loans, the “Operating Account”). The Lenders shall make each Revolving Credit Loan which is a Eurocurrency Loan hereunder by crediting the amount of such Eurocurrency Loan, in the Eurocurrency requested, to the applicable Eurocurrency demand deposit account with the Agent.

Mechanics of Revolving Credit Loans. Each Revolving Credit Loan shall ----------------------------------- be made by each Lender in such amount (not in excess of such Lender's Commitment) as the LendersCompany shall request, severally provided that each borrowing shall be in a minimum aggregate amount of $1,500,000 from all of the Lenders or such lesser amount as may be equal to the then unused portion of the Available Line Commitment. Requests for borrowings hereunder shall in each case be made pro --- rata from each of the Lenders in accordance with their respective Commitments and in such amounts (not in excess Percentages of ---- the Maximum Line Total Commitment) as the Borrower shall request. Revolving Credit Loans shall be effected at by separate wire transfers from the principal banking office of respective Lenders to the Agent at 00 Xxxxx Xxxxxx, Xxxxxx, Xxxxxxxxxxxxx 00000-0000Operating Account referred to below, and shall be made at such times before the Conversion Date as the Borrower Company may request upon one (1) Banking Day’s prior notice to the Agent in the case of any borrowing for which interest is calculated using the Base Rate (collectively, “Base Rate Loans”) and by three (3) Banking Days’ ' prior notice (by 3:00 p.m. eastern standard time) to each of the Lenders (the "Borrowing Request"), provided that ----------------- -------- the initial Revolving Credit Loans made in connection with the case inclusion of any borrowing for which interest is calculated using subsequent securitization transaction within the LIBOR Rate Borrowing Base pursuant to subsection 4.12 below shall be funded by the Lenders not less than three (collectively, “LIBOR Portions”)3) --------------- Banking Days after issuance by the Lenders to the Company of written confirmation that such subsequent securitization transaction will be an Eligible Securitization Transaction as contemplated by such subsection 4.12. Each borrowing request All --------------- Borrowing Requests shall be in writing, or by telephonic communication confirmed by telecopy or other facsimile transmission on the form attached hereto same day as Exhibit E (the “telephone request, and shall specify the proposed date, the amount of the Revolving Credit Loans and the appropriate wiring instructions. Upon receipt of all Borrowing Request”). Each Borrowing Request may be sent to the Agent by facsimile. The Lenders will use their best efforts to fund requests Requests for Revolving Credit Loans on the requested Banking Day. In the event that notwithstanding its best effortshereunder, the Lenders are unable to fund a requested Revolving Credit Loan on Agent shall promptly notify the requested Banking Dayother Lenders, specifying the Lenders shall have no liability whatsoever for such failure to fund proposed date and will fund such Revolving Credit Loan on the next Banking Dayrespective amounts thereof. The Lenders Each Lender shall make each Revolving Credit Loan hereunder on such proposed date by crediting the amount of such Revolving Credit Loan delivering to the Borrower’s operating Company's account (at Bank of America, ABA #000000000; Account No. 0000000) with the Agent (together with any other account from time to time designated by the Borrower for the purpose of effecting Revolving Credit Loans, the “Operating Account”).14584-25131; Beneficiary: Consumer Portfolio Services;

Mechanics of Revolving Credit Loans. Each Revolving Credit Loan shall be made by each Lender in such amount (not in excess of such Lender's Commitment) as the LendersCompany shall request, severally provided that each borrowing shall be in a minimum aggregate amount of $500,000 from all of the Lenders or such lesser amount as may be equal to the then unused portion the Available Line Commitment. Requests for borrowings hereunder shall in each case be made pro rata from each of the Lenders in accordance with their respective Commitments and in such amounts (not in excess Percentages of the Maximum Line Total Commitment) as the Borrower shall request. Revolving Credit Loans shall be effected at by separate wire transfers from the principal banking office of respective Lenders to the Agent at 00 Xxxxx Xxxxxx, Xxxxxx, Xxxxxxxxxxxxx 00000-0000Operating Account referred to below, and shall be made at such times before the Conversion Date as the Borrower Company may request upon one (1) Banking Day’s prior notice to the Agent in the case of any borrowing for which interest is calculated using the Base Rate (collectively, “Base Rate Loans”) and by three (3) Banking Days’ ' prior notice to each of the Lenders, provided that the initial Revolving Credit Loans made in connection with the case inclusion of any Subsequent Securitization Transaction within the Borrowing Base pursuant to subsection 4.13 below shall be funded by the Lenders not less than three (3) Banking Days after issuance by the Lenders to the Company of written confirmation that such subsequent securitization transaction will be an Eligible Securitization Transaction as contemplated by such subsection 4.13. All borrowing for which interest is calculated using the LIBOR Rate (collectively, “LIBOR Portions”). Each borrowing request requests shall be in writing, or by telephonic communication confirmed by telecopy or other facsimile transmission on the form attached hereto same day as Exhibit E (the “Borrowing Request”)telephone request, and shall specify the proposed date and the amount of the Revolving Credit Loans. Each Borrowing Request may be sent to the Agent by facsimile. The Lenders will use their best efforts to fund requests Upon receipt of any request for Revolving Credit Loans on the requested Banking Day. In the event that notwithstanding its best effortshereunder, the Lenders are unable to fund a requested Revolving Credit Loan on Agent shall promptly notify the requested Banking Dayother Lenders, specifying the Lenders shall have no liability whatsoever for such failure to fund proposed date and will fund such Revolving Credit Loan on the next Banking Dayrespective amounts thereof. The Lenders Each Lender shall make each Revolving Credit Loan hereunder on such proposed date by crediting the amount of such Revolving Credit Loan delivering to the Borrower’s operating Company's account (Account No. 0000000) with the Agent at Wellx Xxxgo Bank, Newport Beach, California, ABA #: 121000000; Xxcount # 4159359082; Beneficiary: Onyx Acceptance Corporation: Attn.: Jerrx Xxxxxxx; Xxher Instructions: Loan Proceeds (together with any other successor account from time to time designated by the Borrower for Company, the purpose of effecting "Operating Account") the amount thereof in immediately available funds by not later than 1:00 p.m. Boston time on the date on which such Revolving Credit Loans, the “Operating Account”)Loans are to be made.