Common use of Method of Borrowing for Loans Clause in Contracts

Method of Borrowing for Loans. By no later than (i) 12:00 noon on the Closing Date if the requested Borrowing of Loans will be comprised of Base Rate Loans and (ii) 12:00 noon three (3) Business Days prior to the Closing Date if the requested Borrowing of Loans will be comprised of Eurodollar Loans, the Borrower shall submit a written Notice of Borrowing in the form of Exhibit 2.1(b) to the Administrative Agent setting forth (A) the amount requested, (B) the date of the requested Borrowing, (C) the Type of Loan, (D) with respect to Loans that will be Eurodollar Loans, the Interest Period applicable thereto, (E) certification that the Borrower has complied, or, in respect of any Borrowing that will consist of Eurodollar Loans, intends to comply, in all respects with Section 5.1 and (F) with respect to Loans that will be Eurodollar Loans, compensation provisions substantially consistent with the terms of Section 3.14. If the Borrower shall fail to specify (1) an Interest Period in the case of a Eurodollar Loan, then such Eurodollar Loan shall be deemed to have an Interest Period of one month or (2) the Type of Loan requested, then such Loan shall be deemed to be a Base Rate Loan. Thereafter, all or any portion of the Loans may be converted into Eurodollar Loans in accordance with the terms of Section 2.3.

Appears in 2 contracts

Samples: Term Loan Agreement (Public Service Co of New Mexico), Term Loan Agreement (PNM Resources Inc)

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Method of Borrowing for Loans. By no later than (i) 12:00 noon 10:00 a.m. on the Closing applicable Funding Date if the requested Borrowing of Loans will shall be comprised of Base Rate Loans and (ii) 12:00 noon three (3) Business Days prior to the Closing such Funding Date if the requested Borrowing of Loans will shall be comprised of Eurodollar Loans, the Borrower shall submit a written Notice of Borrowing in the form of Exhibit 2.1(b) to the Administrative Agent setting forth (A) the amount requested, (B) the date of the requested Borrowing, (C) the Type of Loan, (D) with respect to Loans that will be Eurodollar Loans, the Interest Period applicable thereto, (E) certification that the Borrower has complied, or, in respect of any Borrowing that will shall consist of Eurodollar Loans, intends to comply, in all respects with Section 5.1 and (F) with respect to Loans that will be Eurodollar Loans, compensation provisions substantially consistent with the terms of Section 3.14. If the Borrower shall fail to specify (1) an Interest Period in the case of a Eurodollar Loan, then such Eurodollar Loan shall be deemed to have an Interest Period of one month or (2) the Type of Loan requested, then such Loan shall be deemed to be a Base Rate Loan. Thereafter, all or any portion of the Loans may be converted into Eurodollar Loans in accordance with the terms of Section 2.3.

Appears in 1 contract

Samples: Term Loan Agreement (Public Service Co of New Mexico)

Method of Borrowing for Loans. By no later than 11:00 a.m. (i) 12:00 noon on the Closing Date if date of the requested Borrowing borrowing of Loans that will be comprised of Base Rate Loans and Loans, (ii) 12:00 noon three (3) Business Days prior to the Closing Date if date of the requested Borrowing borrowing of Loans that will be comprised Eurodollar Loans denominated in Dollars or (iii) four Business Days prior to the requested date of any borrowing or continuation of Eurodollar LoansLoans denominated in Alternative Currencies, the Borrower shall submit provide telephonic notice to the Administrative Agent, followed promptly by a written Notice of Borrowing in the form of Exhibit 2.1(b) to the Administrative Agent (which may be submitted by telecopy), each of such telephonic notice and such written Notice of Borrowing setting forth (A) the amount requested, (B) whether such Loans shall accrue interest at the date of Base Rate or the requested BorrowingAdjusted Eurodollar Rate, (C) the Type of Loan, (D) with respect to Loans that will be Eurodollar Loans, the Interest Period applicable thereto, (ED) certification that the Borrower has complied, or, in respect of any Borrowing that will consist of Eurodollar Loans, intends to comply, complied in all respects with Section 5.1 5.2 and (FE) with respect the currency of the Loans to Loans that will be Eurodollar Loans, compensation provisions substantially consistent with the terms of Section 3.14borrowed. If the Borrower shall fail fails to specify (1) an Interest Period a currency in the case a Notice of a Eurodollar LoanBorrowing, then such Eurodollar Loan the Loans so requested shall be deemed to have an Interest Period of one month or (2) the Type of Loan requested, then such Loan shall be deemed to be a Base Rate Loan. Thereafter, all or any portion of the Loans may be converted into Eurodollar Loans made in accordance with the terms of Section 2.3Dollars.

Appears in 1 contract

Samples: Credit Agreement (Polaris Industries Inc/Mn)

Method of Borrowing for Loans. By no later than (i) 12:00 noon 10:00 a.m. on the Closing Date if the requested Borrowing of Loans will shall be comprised of Base Rate Loans and (ii) 12:00 noon three (3) Business Days prior to the Closing Date if the requested Borrowing of Loans will shall be comprised of Eurodollar Loans, the Borrower shall submit a written Notice of Borrowing in the form of Exhibit 2.1(b) to the Administrative Agent setting forth (A) the amount of Loans requested, (B) the date of the requested Borrowing, (C) the Type of LoanLoans, (D) with respect to Loans that will be Eurodollar Loans, the Interest Period applicable thereto, (E) certification that the Borrower has complied, or, in respect of any a Borrowing that will shall consist of Eurodollar Loans, intends to comply, in all respects with Section 5.1 4 and (F) with respect to Loans that will be Eurodollar Loans, compensation provisions substantially consistent with the terms of Section 3.14. If the Borrower shall fail to specify (1) an Interest Period in the case of a Eurodollar Loan, then such Eurodollar Loan shall be deemed to have an Interest Period of one month or (2) the Type of Loan requested, then such Loan shall be deemed to be a Base Rate Loan. Thereafter, all or any portion of the Loans may be converted into Eurodollar Loans in accordance with the terms of Section 2.3.

Appears in 1 contract

Samples: Term Loan Agreement (Public Service Co of New Mexico)

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Method of Borrowing for Loans. By no later than (i) 12:00 noon 10:00 a.m. on the Closing Funding Date if the requested Borrowing of Loans will shall be comprised of Base Rate Loans and (ii) 12:00 noon three (3) Business Days prior to the Closing Funding Date if the requested Borrowing of Loans will shall be comprised of Eurodollar Loans, the Borrower shall submit a written Notice of Borrowing in the form of Exhibit 2.1(b) to the Administrative Agent setting forth (A) the amount requested, (B) the date of the requested Borrowing, (C) the Type of Loan, (D) with respect to Loans that will be Eurodollar Loans, the Interest Period applicable thereto, (E) certification that the Borrower has complied, or, in respect of any Borrowing that will shall consist of Eurodollar Loans, intends to comply, in all respects with Section 5.1 and (F) with respect to Loans that will be Eurodollar Loans, compensation provisions substantially consistent with the terms of Section 3.14. If the Borrower shall fail to specify (1) an Interest Period in the case of a Eurodollar Loan, then such Eurodollar Loan shall be deemed to have an Interest Period of one month or (2) the Type of Loan requested, then such Loan shall be deemed to be a Base Rate Loan. Thereafter, all or any portion of the Loans may be converted into Eurodollar Loans in accordance with the terms of Section 2.3.

Appears in 1 contract

Samples: Term Loan Agreement (PNM Resources Inc)

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