Method of Borrowing Revolving Credit Loans Sample Clauses

Method of Borrowing Revolving Credit Loans. A Borrower shall give notice to the applicable Lender of the requested principal amount of each Revolving Credit Loan by no later than 10:00 a.m., New York time, at least three (3) Business Days prior to the date of the proposed Revolving Credit Loan (which shall also be a Business Day), or such shorter period as such Lender may agree. Each Revolving Credit Loan shall comply with all of the provisions of this Agreement. If the applicable Lender is willing, in its discretion, to make the requested Revolving Credit Loan, then subject to satisfaction of the conditions set forth in Section 3 hereof, the applicable Lender shall advance the requested amount to the Borrower in immediately available funds as directed by such Borrower and shall notify the Borrower of the Applicable Rate and the applicable Rate Period for such Revolving Credit Loan.
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Method of Borrowing Revolving Credit Loans. The Borrower shall give notice to the Lender of the principal amount of each Revolving Credit Loan by no later than 10:00 a.m., New York time, at least three (3) Business Days prior to the date of the proposed Revolving Credit Loan (which shall also be a Business Day). Each Revolving Credit Loan shall comply with all of the provisions of this Agreement. Subject to satisfaction of the conditions set forth in Section 3 hereof, Lender shall advance the requested amount to Borrower in immediately available funds as directed by Borrower.
Sample 1
Method of Borrowing Revolving Credit Loans. (a) The Borrower shall give the Administrative Agent notice in the form attached hereto as Exhibit I (a "Notice of Borrowing") (a) prior to 12:00 noon (Charlotte, North Carolina time), on the Domestic Business Day of each Base Rate Borrowing, (b) at least three (3) Eurocurrency Business Days before each Eurocurrency Borrowing denominated in Dollars, and (c) at least four (4) Eurocurrency Business Days before each Eurocurrency Borrowing denominated in an Alternate Currency, specifying: (i) the date of the Revolving Credit Borrowing, which shall be a Domestic Business Day in the case of a Base Rate Borrowing or a Eurocurrency Business Day in the case of a Eurocurrency Borrowing; (ii) the aggregate amount of the Revolving Credit Borrowing; (iii) the Currency in which the Revolving Credit Borrowing shall be denominated; and (iv) if such Loan is denominated in Dollars, whether the Revolving Credit Loans comprising a Revolving Credit Borrowing are to be Base Rate Loans or Eurocurrency Loans, and the duration of the Interest Period applicable thereto, subject to the provisions of the definition of Interest Period. (b) Upon receipt of a Notice of Borrowing, the Administrative Agent shall promptly notify each Lender of the contents thereof and of such Lender's ratable share of such Revolving Credit Borrowing, and such Notice of Borrowing shall not thereafter be revocable by the Borrower. (c) Not later than (i) 2:00 P.M. (Charlotte, North Carolina time) on the date of each Revolving Credit Borrowing in Dollars or (ii) 11:00 A.M. (London, England time) on the date of each Revolving Credit Borrowing in an Alternate Currency, referenced in the Notice of Borrowing, each Lender shall (except as provided in subsection (d) of this Section) make available its ratable share of such Revolving Credit Borrowing, in the Currency referenced in the Notice of Borrowing in funds immediately available in Charlotte, North Carolina, or London, England, as the case may be, to the Administrative Agent at its address referred to in or specified pursuant to Section 10.01. Unless the Administrative Agent determines that any applicable condition specified in Article IV has not been satisfied, the Administrative Agent will make the funds so received from the Lenders available to the Borrower at the Administrative Agent's aforesaid address. 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 availab...
Sample 1
Method of Borrowing Revolving Credit Loans. (a) The Company shall give Lender oral or written notice (a "Notice of Borrowing") by 2:00 p.m. (St. Louis time) on the Business Day of each Revolving Credit Prime Loan to be made to the Company, and by 2:00 p.m. (St. Louis time) at least three (3) Eurodollar Business Days before each Revolving Credit LIBOR Loan to be made to the Company, specifying: (i) the date of such Revolving Credit Loan, which shall be a Business Day during the Revolving Credit Period in the case of a Revolving Credit Prime Loan and a Eurodollar Business Day during the Revolving Credit Period in the case of a Revolving Credit LIBOR Loan, (ii) the aggregate principal amount of such Revolving Credit Loan, (iii) whether such Revolving Credit Loan is to be a Revolving Credit Prime Loan or a Revolving Credit LIBOR Loan, and (iv) in the case of a Revolving Credit LIBOR Loan, the duration of the initial Interest Period applicable thereto, subject to the provisions of the definition of Interest Period. (b) A Notice of Borrowing shall not be revocable by the Company. (c) Subject to the terms and conditions of this Agreement, provided that Lender has received the Notice of Borrowing, Lender shall (unless Lender determines that any applicable condition specified in Section 3 has not been satisfied) make the applicable Revolving Credit Loan to the Company by crediting the amount of such Revolving Credit Loan to a demand deposit account of the Company at Lender specified by the Company (or such other account mutually agreed upon in writing between Lender and the Company) not later than 4:00 p.m. (St. Louis time) on the Business Day specified in said Notice of Borrowing. (d) If Lender makes a new Revolving Credit Loan under this Agreement on a day on which the Company is required to or has elected to repay all or any part of an outstanding Revolving Credit Loan, Lender shall apply the proceeds of its new Revolving Credit Loan to make such repayment and only an amount equal to the difference (if any) between the amount being borrowed and the amount being repaid shall be made available by Lender to the Company as provided in Section 2.04(c), or remitted by the Company to Lender as provided in Section 2.12, as the case may be. (e) The Company hereby irrevocably authorizes Lender to rely on telephonic, telegraphic, telecopy, telex or written instructions of any individual identifying himself or herself as one of the individuals listed on Schedule 2.04 attached hereto (or any other individual from time...
Sample 1
Method of Borrowing Revolving Credit Loans. Borrower shall give Lender oral or written notice (a "Notice of Borrowing") by 10:00 a.m. (St. Louis time) on the Business Day of each Revolving Credit Loan to be made to Borrower, specifying:
Sample 1
Method of Borrowing Revolving Credit Loans. (a) Borrowing Base for Revolving Credit Loans: In order to permit the Bank to determine the Borrowing Base in connection with any proposed loan, and to monitor compliance with subsection (c) and (e) below, National shall deliver Borrowing Base Certificates to the Bank as follows: (i) at least three (3) Business Days prior to the Closing Date, if any loan is to be made on the Closing Date; (ii) as required under Section 5.01(a); and (iii) at least (3) Business Days prior to the making if any other Loan, unless a Borrowing Base Certificate applicable for use at that time already has been delivered to the Bank. Each Borrowing Base Certificate delivered under clause (i) or (ii) shall certify the Eligible Accounts as of the last day of the immediately preceding calendar month. If delivered under clause (iii), it shall certify the Eligible Accounts as of the last day of the immediately preceding month to the extent practicable; otherwise, as of the last day of the second immediately preceding calendar month. Notwithstanding the foregoing, Bank may accept a Borrowing Base Certificate for the second immediately calendar month only if the requested borrowing occurs within the first nineteen (19) days of the month. Any borrowing requested on or after the twentieth (20th) day of any month will require a Borrowing Base Certificate certified to the last day of the immediately preceding month. . Each Borrowing Base Certificate shall be certified by the Chief Financial Officer or another Responsible Officer and shall be in the form thereof attached hereto as Exhibit C.
Sample 1
Method of Borrowing Revolving Credit Loans 
Sample 1
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Related to Method of Borrowing Revolving Credit Loans

  • Making Revolving Credit Loans The Administrative Agent shall, promptly after receipt by it of a Loan Request pursuant to Section 2.5 [Revolving Credit Loan Requests; Swing Loan Requests], notify the Lenders of its receipt of such Loan Request specifying the information provided by the Borrower and the apportionment among the Lenders of the requested Revolving Credit Loans as determined by the Administrative Agent in accordance with Section 2.2 [Nature of Lenders’ Obligations with Respect to Revolving Credit Loans]. Each Lender shall remit the principal amount of each Revolving Credit Loan to the Administrative Agent such that the Administrative Agent is able to, and the Administrative Agent shall, to the extent the Lenders have made funds available to it for such purpose and subject to Section 7.2 [Each Loan or Letter of Credit], fund such Revolving Credit Loans to the Borrower in U.S. Dollars and immediately available funds at the Principal Office prior to 2:00 p.m., on the applicable Borrowing Date; provided that if any Lender fails to remit such funds to the Administrative Agent in a timely manner, the Administrative Agent may elect in its sole discretion to fund with its own funds the Revolving Credit Loans of such Lender on such Borrowing Date, and such Lender shall be subject to the repayment obligation in Section 2.6.2 [Presumptions by the Administrative Agent].

  • The Revolving Credit Loans Subject to the terms and conditions set forth herein, each Revolving Credit Lender severally agrees to make loans (each such loan, a “Revolving Credit Loan”) to the Borrower from time to time, on any Business Day during the Availability Period, in an aggregate principal amount not to exceed at any time outstanding the amount of such Lender’s Revolving Credit Commitment; provided, however, that after giving effect to any such Revolving Credit Borrowing, (i) the Total Revolving Credit Outstandings shall not exceed the Revolving Credit Facility, and (ii) the Revolving Credit Exposure of any Lender shall not exceed such Revolving Credit Lender’s Revolving Credit Commitment. Within the limits of each Revolving Credit Lender’s Revolving Credit Commitment, and subject to the other terms and conditions hereof, the Borrower may borrow under this Section 2.01(b), prepay under Section 2.05, and reborrow under this Section 2.01(b). Revolving Credit Loans may be Base Rate Loans or Eurodollar Rate Loans, as further provided herein.

  • Revolving Credit Loans The Borrower shall repay to the Administrative Agent for the ratable account of the Appropriate Lenders on the applicable Maturity Date for the Revolving Credit Facilities of a given Class the aggregate principal amount of all of its Revolving Credit Loans of such Class outstanding on such date.

  • Revolving Credit Loan Requests Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower may from time to time prior to the Expiration Date request the Lenders to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 a.m., (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Rate Option applies or the conversion to or the renewal of the LIBOR Rate Option for any Loans; and (ii) the same Business Day of the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 or a request by telephone immediately confirmed in writing in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “Loan Request”); it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate amount of the proposed Loans comprising each Borrowing Tranche, which amount shall be in (x) an integral multiple of $1,000,000 and not less than $5,000,000 for each Borrowing Tranche under the LIBOR Rate Option and (y) an integral multiple of $50,000 and not less than the lesser of $500,000 or the maximum amount available for Borrowing Tranches to which the Base Rate Option applies; (iii) whether the LIBOR Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; and (iv) in the case of a Borrowing Tranche to which the LIBOR Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing Tranche.

  • The Revolving Credit Advances Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Revolving Credit Advances to any Borrower from time to time on any Business Day during the period from the Effective Date until the Termination Date in an aggregate amount (based in respect of any Revolving Credit Advance denominated in a Major Currency on the Equivalent in Dollars determined on the date of delivery of the applicable Notice of Revolving Credit Borrowing), not to exceed at any time outstanding such Lender's Commitment, provided that the aggregate amount of the Commitments of the Lenders shall be deemed used from time to time to the extent of the aggregate amount (based in respect of any Competitive Bid Advance denominated in a Foreign Currency on the Equivalent in Dollars at such time) of the Competitive Bid Advances then outstanding and such deemed use of the aggregate amount of the Commitments shall be allocated among the Lenders ratably according to their respective Commitments (such deemed use of the aggregate amount of the Commitments being a "Competitive Bid Reduction"). Each Revolving Credit Borrowing shall be in an aggregate amount not less than $10,000,000 (or the Equivalent thereof in any Major Currency determined on the date of delivery of the applicable Notice of Revolving Credit Borrowing) or an integral multiple of $1,000,000 (or the Equivalent thereof in any Major Currency determined on the date of delivery of the applicable Notice of Revolving Credit Borrowing) in excess thereof and shall consist of Revolving Credit Advances of the same Type made on the same day by the Lenders ratably according to their respective Commitments; provided, however, that if there is no unused portion of the Commitment of one or more Lenders at the time of any requested Revolving Credit Borrowing such Borrowing shall consist of Revolving Credit Advances of the same Type made on the same day by the Lender or Lenders who do then have an unused portion of their Commitments ratably according to the unused portion of such Commitments. Notwithstanding anything herein to the contrary, no Revolving Credit Borrowing may be made in a Major Currency if, after giving effect to the making of such Revolving Credit Borrowing, the Equivalent in Dollars of the aggregate amount of outstanding Revolving Credit Advances denominated in Major Currencies, together with the Equivalent in Dollars of the aggregate amount of outstanding Competitive Bid Advances denominated in Foreign Currencies, would exceed $500,000,000. Within the limits of each Lender's Commitment, any Borrower may borrow under this Section 2.01, prepay pursuant to Section 2.09 and reborrow under this Section 2.01.

  • Revolving Credit Loan The undersigned Borrower hereby requests a [Revolving Credit Loan under §2.1] [Swing Loan under §2.5] of the Credit Agreement: Principal Amount: $ Type (LIBOR Rate, Base Rate): Drawdown Date: Interest Period for LIBOR Rate Loans: by credit to the general account of the Borrower with the Agent at the Agent’s Head Office.

  • Revolving Credit Advances The Borrower shall repay to the Administrative Agent for the ratable account of the Lenders on the Termination Date the aggregate outstanding principal amount of the Revolving Credit Advances then outstanding.

  • Repayment of Revolving Credit Loans The Borrower shall repay the Revolving Credit Loans together with all outstanding interest thereon on the Expiration Date.

  • Requests for Revolving Credit Loans Except with respect to the initial Revolving Credit Loan on the Closing Date, the Borrower shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H hereto (or telephonic notice confirmed in writing in the form of Exhibit H hereto) of each Revolving Credit Loan requested hereunder (a “Loan Request”) by noon (Cleveland time) one (1) Business Day prior to the proposed Drawdown Date with respect to Base Rate Loans and two (2) Business Days prior to the proposed Drawdown Date with respect to LIBOR Rate Loans. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) and (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer of the Borrower that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each such Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $100,000.00 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 in excess thereof; provided, however, that there shall be no more than five (5) Revolving Credit LIBOR Rate Loans outstanding at any one time.

  • Interest on Revolving Credit Loans (a) Each Revolving Credit Loan shall bear interest at the Base Margin Rate unless timely notice is given (as provided in Section 2.5) that the subject Revolving Credit Loan (or a portion thereof) is, or is to be converted to, a LIBOR Loan. (b) Each Revolving Credit Loan which consists of a LIBOR Loan shall bear interest at the applicable LIBOR Rate. (c) Subject to, and in accordance with, the provisions of this Agreement, the Lead Borrower may cause all or a part of the unpaid principal balance of the Loan Account to bear interest at the Base Margin Rate or the LIBOR Rate as specified from time to time by the Lead Borrower by notice to the Administrative Agent. (d) For ease of reference and administration, each part of the Loan Account which bears interest at the same rate of interest and for the same Interest Period is referred to herein as if it were a separate "Revolving Credit Loan". (e) The Lead Borrower shall not select, renew, or convert any interest rate for a Revolving Credit Loan such that, in addition to interest at the Base Margin Rate, there are more than seven (7) Interest Periods for LIBOR Loans in the aggregate for all Borrowers applicable to the Revolving Credit Loans at any one time. (f) The Borrowers shall pay accrued and unpaid interest on each Revolving Credit Loan to its Borrower in arrears as follows: (i) On the applicable Interest Payment Date for that Revolving Credit Loan. (ii) On the Termination Date and on the End Date. (iii) Following the occurrence of any Event of Default, with such frequency as may be determined by the Administrative Agent. (g) Following the occurrence of any Event of Default (and whether or not any Agent exercises its rights on account thereof), all Revolving Credit Loans shall bear interest, at the option of the Administrative Agent or at the instruction of the SuperMajority Lenders, at a rate which is the aggregate of the applicable rate (including the Applicable Margin) for Base Margin Loans and/or LIBOR Loans, as applicable, plus two percent (2%) per annum.

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