Common use of Method of Borrowing for Revolving Loans Clause in Contracts

Method of Borrowing for Revolving Loans. By no later than 11:00 a.m. (i) on the date of the requested Borrowing of Revolving Loans that will be Base Rate Loans and (ii) three Business Days prior to the date of the requested Borrowing of Revolving Loans that will be Eurodollar Loans, the Borrower shall telephone the Administrative Agent as well as 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 Revolving Loan, (D) with respect to Revolving Loans that will be Eurodollar Loans, the Interest Period applicable thereto, and (E) certification that the Borrower has complied in all respects with Section 5. 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 Revolving Loan requested, then such Revolving Loan shall be deemed to be a Base Rate Loan. All Revolving Loans made on the Closing Date shall be Base Rate Loans. Thereafter, all or any portion of the Revolving Loans may be converted into Eurodollar Loans in accordance with the terms of Section 2.3.

Appears in 6 contracts

Samples: Credit Agreement (PNM Resources Inc), Credit Agreement (PNM Resources Inc), Credit Agreement (PNM Resources Inc)

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Method of Borrowing for Revolving Loans. By no later than 11:00 a.m. (i) 12:00 noon on the date of the requested Borrowing of Revolving Loans that will be Base Rate Loans and (ii) 12:00 noon three Business Days prior to the date of the requested Borrowing of Revolving Loans that will be Eurodollar Loans, the Borrower shall telephone the Administrative Agent as well as submit a written Notice of Revolving 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 Revolving Loan, (D) with respect to Revolving Loans that will be Eurodollar Loans, the Interest Period applicable thereto, and (E) certification that the Borrower has complied in all respects with Section 5. 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 Revolving Loan requested, then such Revolving Loan shall be deemed to be a Base Rate Loan. All Revolving Loans made on the Closing Date shall be Base Rate Loans. Thereafter, all or any portion of the Revolving Loans (other than Swing Line Loans) may be converted into Eurodollar Loans in accordance with the terms of Section 2.3.

Appears in 4 contracts

Samples: And Restatement of Credit Agreement (Texas New Mexico Power Co), Credit Agreement (Texas New Mexico Power Co), Credit Agreement (PNM Resources Inc)

Method of Borrowing for Revolving Loans. By no later than 11:00 a.m. (i) 12:00 noon on the date of the requested Borrowing of Revolving Loans that will be Base Rate Loans and (ii) 12:00 noon three U.S. Government Securities Business Days prior to the date of the requested Borrowing of Revolving Loans that will be Eurodollar LoansSOFR Loans (or such shorter period as mutually agreed between the Administrative Agent and the Borrower with respect to any Borrowing on the Restatement Date), the Borrower shall telephone the Administrative Agent as well as submit a written Notice of Revolving 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 Revolving Loan, (D) with respect to Revolving Loans that will be Eurodollar SOFR Loans, the Interest Period applicable thereto, and (E) certification that the Borrower has complied in all respects with Section 5. If the Borrower shall fail to specify (1) an Interest Period in the case of a Eurodollar SOFR Loan, then such Eurodollar SOFR Loan shall be deemed to have an Interest Period of one month or (2) the Type of Revolving Loan requested, then such Revolving Loan shall be deemed to be a Base Rate Loan. All Revolving Loans made on the Closing Date shall be Base Rate Loans. Thereafter, all or any portion of the Revolving Loans (other than Swing Line Loans) may be converted into Eurodollar SOFR Loans in accordance with the terms of Section 2.3.

Appears in 4 contracts

Samples: Credit Agreement (Public Service Co of New Mexico), Credit Agreement (Public Service Co of New Mexico), Credit Agreement (Public Service Co of New Mexico)

Method of Borrowing for Revolving Loans. By no later than 11:00 a.m. (i) on the date of the requested Borrowing of Revolving Loans that will be Base Rate Loans and (ii) three Business Days prior to the date of the requested Borrowing of Revolving Loans that will be Eurodollar Loans, the applicable Borrower shall telephone the Administrative Agent as well as 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 Revolving Loan, (D) with respect to Revolving Loans that will be Eurodollar Loans, the Interest Period applicable thereto, and (E) certification that the such Borrower has complied in all respects with Section 5. If the applicable 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 Revolving Loan requested, then such Revolving Loan shall be deemed to be a Base Rate Loan. All Revolving Loans made on the Closing Date shall be Base Rate Loans. Thereafter, all or any portion of the Revolving Loans may be converted into Eurodollar Loans in accordance with the terms of Section 2.3.

Appears in 3 contracts

Samples: Credit Agreement (PNM Resources Inc), Credit Agreement (PNM Resources Inc), Credit Agreement (PNM Resources Inc)

Method of Borrowing for Revolving Loans. By no later than 11:00 a.m. (i) 12:00 noon on the date of the requested Borrowing of Revolving Loans that will be Base Rate Loans and (ii) 12:00 noon three (3) Business Days prior to the date of the requested Borrowing of Revolving Loans that will be Eurodollar Loans, the Borrower shall telephone the Administrative Agent as well as submit a written Notice of Revolving 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 Revolving Loan, (D) with respect to Revolving Loans that will be Eurodollar Loans, the Interest Period applicable thereto, and (E) certification that the Borrower has complied complied, or, in respect of any Borrowing that will consist of Eurodollar Loans, intends to comply, in all respects with Section 55.1 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 Revolving Loan requested, then such Revolving Loan shall be deemed to be a Base Rate Loan. All Revolving Loans made on the Closing Date shall be Base Rate Loans. Thereafter, all or any portion of the Revolving Loans may be converted into Eurodollar Loans in accordance with the terms of Section 2.3.

Appears in 2 contracts

Samples: Credit Agreement (Public Service Co of New Mexico), Credit Agreement (Public Service Co of New Mexico)

Method of Borrowing for Revolving Loans. Base Rate Loans By no later than 11:00 a.m. (i) on the date of a Borrower's request for the requested Borrowing borrowing (or for the conversion of Eurodollar Revolving Loans that will be to Base Rate Loans and Loans), such Borrower shall submit a Notice of Borrowing to the Administrative Agent setting forth (i) the amount requested, (ii) the desire to have such Revolving Loans accrue interest at the Base Rate and (iii) except in the case of conversions of Eurodollar Revolving Loans to Base Rate Loans, complying in all respects with Section 5.2 hereof. Eurodollar Revolving Loans By no later than 11:00 a.m. three Business Days prior to the date of a Borrower's request for the requested Borrowing borrowing (or for the conversion of Base Rate Loans to Eurodollar Revolving Loans that will be or the continuation of existing Eurodollar Loans) (the "Notice Date"), the such Borrower shall telephone the Administrative Agent as well as submit a written Notice of Borrowing in the form of Exhibit 2.1(b) to the Administrative Agent setting forth (Ai) the amount requested, (Bii) the date of desire to have such Revolving Loans accrue interest at the requested BorrowingAdjusted Eurodollar Rate, (Ciii) the Type of Revolving Loan, (D) with respect to Revolving Loans that will be Eurodollar Loans, the Interest Period applicable thereto, and (Eiv) certification that except in the Borrower has complied case of conversions of Base Rate Loans to Eurodollar Revolving Loans or the continuation of existing Eurodollar Loans, to complying in all respects with Section 5. 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 Revolving Loan requested, then such Revolving Loan shall be deemed to be a Base Rate Loan. All Revolving Loans made on the Closing Date shall be Base Rate Loans. Thereafter, all or any portion of the Revolving Loans may be converted into Eurodollar Loans in accordance with the terms of Section 2.35.2 hereof.

Appears in 2 contracts

Samples: Day Credit Agreement (Virginia Electric & Power Co), Day Credit Agreement (Dominion Resources Inc /Va/)

Method of Borrowing for Revolving Loans. By no later than 11:00 9:00 a.m. (i) on one Business Day prior to the date of the requested Borrowing borrowing of Revolving Loans that will be Base Rate Loans and or (ii) three Business Days prior to the date of the requested Borrowing borrowing of Revolving Loans that will be Eurodollar LIBOR Loans, the Borrower shall telephone the Administrative Agent as well as 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 BorrowingRevolving Loan, (C) the Type of whether such Revolving LoanLoans shall be Base Rate Loans or LIBOR Loans, (D) with respect to Revolving Loans that will be Eurodollar LIBOR Loans, the Interest Period applicable thereto, thereto and (E) certification that the Borrower has complied in all respects with Section 55.2. If the Borrower shall fail to specify (1x) an Interest Period in the case of a Eurodollar LIBOR Loan, then such Eurodollar LIBOR Loan shall be deemed to have an Interest Period of one month or (2y) the Type type of Revolving Loan requested, then such Revolving Loan shall be deemed to be a Base Rate Loan. All Revolving Loans made on the Closing Date shall be Base Rate Loans. Thereafter, all or any portion of the Revolving Loans may be converted into Eurodollar Loans in accordance with the terms of Section 2.3.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Pan Pacific Retail Properties Inc), Revolving Credit Agreement (Pan Pacific Retail Properties Inc)

Method of Borrowing for Revolving Loans. By no later than 11:00 a.m. (i) on the date of the requested Borrowing borrowing of Revolving Loans that will be Base Rate Loans and or (ii) three Business Days prior to the date of the requested Borrowing borrowing of Revolving Loans that will be Eurodollar Eurocurrency Loans, the Borrower shall telephone the Administrative Agent as well as 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) whether such Revolving Loans shall accrue interest at the date of Adjusted Base Rate or the requested BorrowingAdjusted Eurocurrency Rate, (C) the Type of Revolving Loan, (D) with respect to Revolving Loans that will be Eurodollar Eurocurrency Loans, the Interest Period applicable thereto, thereto and (ED) certification that the Borrower has complied in all respects with Section 55.2. If the Borrower shall fail to specify (1x) an Interest Period in the case of a Eurodollar Eurocurrency Loan, then such Eurodollar Eurocurrency Loan shall be deemed to have an Interest Period of one month month, or (2y) the Type type of Revolving Loan requested, then such Revolving Loan shall be deemed to be a Base Rate Loan. All Revolving Loans made on the Closing Effective Date shall be Base Rate Loans. Thereafter, all or any portion of the Revolving Loans may be converted into Eurodollar Eurocurrency Loans in accordance with the terms of Section 2.32.7 and the definition of "Interest Period" set forth in Section 1.1.

Appears in 1 contract

Samples: Credit Agreement (Us Can Corp)

Method of Borrowing for Revolving Loans. By no later than 11:00 a.m. 12:00 p.m. (i) on the date of the requested Borrowing of Revolving Loans that will be Base Rate Loans and (ii) three Business Days prior to the date of the requested Borrowing of Revolving Loans that will be Eurodollar Loans, the Borrower shall telephone the Administrative Agent as well as 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 Revolving Loan, (D) with respect to Revolving Loans that will be Eurodollar Loans, the Interest Period applicable thereto, and (E) certification that the Borrower has complied in all respects with Section 5. 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 Revolving Loan requested, then such Revolving Loan shall be deemed to be a Base Rate Loan. All Revolving Loans made on the Closing Date shall be Base Rate Loans. Thereafter, all or any portion of the Revolving Loans may be converted into Eurodollar Loans in accordance with the terms of Section 2.3.

Appears in 1 contract

Samples: Credit Agreement (Texas New Mexico Power Co)

Method of Borrowing for Revolving Loans. By no later than 11:00 a.m. (i) 10:00 a.m. on the date of the requested Borrowing of Revolving Loans that will be Base Rate Loans and (ii) (A) if MUFG Bank, Ltd. is the sole Lender, 12:00 noon two Business Days prior to the date of the requested Borrowing of Revolving Loans that will be Eurodollar Loans and (B) if MUFG Bank, Ltd. is not the sole Lender, 12:00 noon three Business Days prior to the date of the requested Borrowing of Revolving Loans that will be Eurodollar Loans, the Borrower shall telephone the Administrative Agent as well as 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 Revolving Loan, (D) with respect to Revolving Loans that will be Eurodollar Loans, the Interest Period applicable thereto, and (E) certification that the Borrower has complied in all respects with Section 5. 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 Revolving Loan requested, then such Revolving Loan shall be deemed to be a Base Rate Loan. All Revolving Loans made on the Closing Date shall be Base Rate Loans. Thereafter, all or any portion of the Revolving Loans may be converted into Eurodollar Loans in accordance with the terms of Section 2.3.

Appears in 1 contract

Samples: Credit Agreement (Texas New Mexico Power Co)

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Method of Borrowing for Revolving Loans. By no later than 11:00 a.m. (i) on the date of the requested Borrowing of Revolving Loans that will be Base Rate Loans and (ii) three Business Days prior to the date of the requested Borrowing of Revolving Loans that will be Eurodollar Loans, the Borrower shall telephone the Administrative Agent as well as 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 Revolving Loan, (D) with respect to Revolving Loans that will be Eurodollar Loans, the Interest Period applicable thereto, and (E) certification that the Borrower has complied in all respects with Section 55.2. 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 Revolving Loan requested, then such Revolving Loan shall be deemed to be a Base Rate Loan. All Revolving Loans made on the Closing Date shall be Base Rate Loans. Thereafter, all or any portion of the Revolving Loans may be converted into Eurodollar Loans in accordance with the terms of Section 2.32.4.

Appears in 1 contract

Samples: Credit Agreement (Orthodontic Centers of America Inc /De/)

Method of Borrowing for Revolving Loans. By no later than 11:00 a.m. 12:00 p.m. (i) on the date of the requested Borrowing of Revolving Loans that will be Base Rate Loans and (ii) three U.S. Government Securities Business Days prior to the date of the requested Borrowing of Revolving Loans that will be Eurodollar LoansSOFR Loans (or such shorter period as mutually agreed between the Administrative Agent and the Borrower with respect to any Borrowing on the Closing Date), the Borrower shall telephone the Administrative Agent as well as submit a written Notice of Revolving 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 Revolving Loan, (D) with respect to Revolving Loans that will be Eurodollar SOFR Loans, the Interest Period applicable thereto, and (E) certification that the Borrower has complied in all respects with Section 5. If the Borrower shall fail to specify (1) an Interest Period in the case of a Eurodollar SOFR Loan, then such Eurodollar SOFR Loan shall be deemed to have an Interest Period of one month or (2) the Type of Revolving Loan requested, then such Revolving Loan shall be deemed to be a Base Rate Loan. All Revolving Loans made on the Closing Date shall be either SOFR Loans or Base Rate Loans. Thereafter, all or any portion of the Revolving Loans (other than Swing Line Loans) may be converted into Eurodollar SOFR Loans in accordance with the terms of Section 2.3.

Appears in 1 contract

Samples: Credit Agreement (Public Service Co of New Mexico)

Method of Borrowing for Revolving Loans. By no later than 11:00 a.m. (i) on the date of the requested Borrowing borrowing of Revolving Loans that will be Base Rate Loans and or (ii) three Business Days prior to the date of the requested Borrowing borrowing of Revolving Loans that will be Eurodollar Loans, the Borrower shall telephone the Administrative Agent with the information described below as well as 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) whether such Revolving Loans shall accrue interest at the date of Adjusted Base Rate or the requested BorrowingAdjusted Eurodollar Rate, (C) the Type of Revolving Loan, (D) with respect to Revolving Loans that will be Eurodollar Loans, the Interest Period applicable thereto, thereto and (ED) certification that the Borrower has complied in all respects with Section 55.2. If the Borrower shall fail to specify (1x) 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 month, or (2y) the Type type of Revolving Loan requested, then such Revolving Loan shall be deemed to be a Base Rate Loan. All Revolving Loans made on the Closing Effective Date shall be Base Rate LoansLoans unless the Borrower delivers to the Administrative Agent at least three Business Days prior to the Effective Date a funding indemnity letter in form and substance reasonably satisfactory to the Administrative Agent. Thereafter, all or any portion of the such Revolving Loans may be converted into Eurodollar Loans in accordance with the terms of Section 2.32.5.

Appears in 1 contract

Samples: Credit Agreement (Ryans Family Steakhouses Inc)

Method of Borrowing for Revolving Loans. By no later than 11:00 a.m. (i) on the date of the requested Borrowing borrowing of Revolving Loans that will be Base Rate Loans and or (ii) three Business Days prior to the date of the requested Borrowing borrowing of Revolving Loans that will be Eurodollar Loans, the applicable Borrower shall telephone the Administrative Agent with the information described below as well as submit a written Notice of Borrowing in the form of Exhibit 2.1(b) A to the Administrative Agent setting forth (A) the amount requested, (B) whether such Revolving Loans shall accrue interest at the date of Adjusted Base Rate or the requested BorrowingAdjusted Eurodollar Rate, (C) the Type of Revolving Loan, (D) with respect to Revolving Loans that will be Eurodollar Loans, the Interest Period applicable thereto, thereto and (ED) certification that the applicable Borrower has complied in all respects with Section 55.2. If the applicable Borrower shall fail to specify (1x) 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 month, or (2y) the Type type of Revolving Loan requested, then such Revolving Loan shall be deemed to be a Base Rate Loan. All Revolving Loans made on the Closing Date shall be Base Rate Loans. Thereafter, all or any portion of the Revolving Loans may be converted into Eurodollar Loans in accordance with the terms of Section 2.3.

Appears in 1 contract

Samples: Credit Agreement (Ryans Restaurant Group Inc)

Method of Borrowing for Revolving Loans. By no later than 11:00 a.m. 12:00 p.m. (i) on the date of the requested Borrowing of Revolving Loans that will be Base Rate Loans and (ii) three Business Days prior to the date of the requested Borrowing of Revolving Loans that will be Eurodollar Loans, the Borrower shall telephone the Administrative Agent as well as submit a written Notice of Revolving 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 Revolving Loan, (D) with respect to Revolving Loans that will be Eurodollar Loans, the Interest Period applicable thereto, and (E) certification that the Borrower has complied in all respects with Section 5. 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 Revolving Loan requested, then such Revolving Loan shall be deemed to be a Base Rate Loan. All Revolving Loans made on the Closing Date shall be Base Rate Loans. Thereafter, all or any portion of the Revolving Loans (other than Swing Line Loans) may be converted into Eurodollar Loans in accordance with the terms of Section 2.3.

Appears in 1 contract

Samples: Credit Agreement (Texas New Mexico Power Co)

Method of Borrowing for Revolving Loans. By no later than 11:00 a.m. 12:00 p.m. (i) on the date of the requested Borrowing borrowing of Revolving Loans that will be Base Rate Loans and Loans, (ii) three Business Days prior to the date of the requested Borrowing borrowing of Revolving Loans that will be Eurodollar LoansLoans denominated in Dollars or (iii) four Business Days prior to the requested date of any borrowing or continuation of Eurodollar Loans denominated in Alternative Currencies, the Borrower shall telephone provide telephonic notice to the Administrative Agent as well as submit 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 Revolving Loans shall accrue interest at the date of Base Rate or the requested BorrowingAdjusted Eurodollar Rate, (C) the Type of Revolving Loan, (D) with respect to Revolving Loans that will be Eurodollar Loans, the Interest Period applicable thereto, and (ED) certification that the Borrower has complied in all respects with Section 55.2 and (E) the currency of the Revolving Loans to be borrowed. 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 shall be deemed to have an Interest Period of one month or (2) the Type of Revolving Loan requested, then such Revolving Loan shall be deemed to be a Base Rate Loan. All Revolving Loans made on the Closing Date shall be Base Rate Loans. Thereafter, all or any portion of the Revolving Loans may so requested shall 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)

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