Method of Making Requests. As an accommodation to Borrowers, unless a Default or an Event of Default is then in existence, (i) Administrative Agent shall permit telephonic or electronic requests for Revolving Credit Loans to Administrative Agent, (ii) Administrative Agent and Issuing Bank may, in their discretion, permit electronic transmittal of requests for Letters of Credit to them, and (iii) Administrative Agent may, in Administrative Agent’s discretion, permit electronic transmittal of instructions, authorizations, agreements or reports to Administrative Agent. Unless Borrower Representative, on its own behalf and on behalf of all other Borrowers specifically directs Administrative Agent or Issuing Bank in writing not to accept or act upon telephonic or electronic communications from any Borrower, neither Administrative Agent nor Issuing Bank shall have any liability to Borrowers for any loss or damage suffered by any Borrower as a result of Administrative Agent’s or Issuing Bank’s honoring of any requests, execution of any instructions, authorizations or agreements or reliance on any reports communicated to it telephonically or electronically and purporting to have been sent to Administrative Agent or Issuing Bank by any Borrower, and neither Administrative Agent nor Issuing Bank shall have any duty to verify the origin of any such communication or the authority of the Person sending it. Each telephonic request for a Revolving Credit Loan or Letter of Credit accepted by Administrative Agent and Issuing Bank, if applicable, hereunder shall be promptly followed by a written confirmation of such request from Borrower Representative to Administrative Agent and Issuing Bank, if applicable.
Appears in 4 contracts
Samples: Loan, Security and Guaranty Agreement (Quest Resource Holding Corp), Loan, Security and Guaranty Agreement (Quest Resource Holding Corp), Loan, Security and Guaranty Agreement (Quest Resource Holding Corp)
Method of Making Requests. As an accommodation to Borrowers, unless Unless a Default or an Event of Default has occurred and is then in existencecontinuing, (i) Administrative Agent shall permit telephonic or electronic requests for Revolving Credit Loans to Administrative AgentAgent shall be permitted, (ii) Administrative Agent and Issuing Bank Lender may, in their its discretion, permit electronic transmittal of requests for Letters of Credit to themit, and (iii) Administrative Agent may, in Administrative Agent’s 's discretion, permit electronic transmittal of instructions, authorizations, agreements or reports to Administrative Agent. Unless Borrower Representative, on its own behalf and on behalf of all other Borrowers Representative specifically directs Administrative Agent or Issuing Bank Lender in writing not to accept or act upon telephonic or electronic communications from any Borrower, neither Administrative Agent nor Issuing Bank Lender shall have any liability to Borrowers for any loss or damage suffered by any Borrower as a result of Administrative Agent’s 's or Issuing Bank’s Xxxxxx's honoring of any requests, execution of any instructions, authorizations or agreements or reliance on any reports communicated to it telephonically or electronically and purporting to have been sent to Administrative Agent or Issuing Bank Lender by any Borrower, and, so long as Agent and Issuing Lender act in good faith, neither Administrative Agent nor Issuing Bank Lender shall have any duty to verify the origin of any such communication or the authority of the Person sending itcommunication. Each telephonic request for a Revolving Credit Loan or Letter of Credit accepted by Administrative Agent and Issuing Bank(or Xxxxxxx Xxxxxx, if as applicable, ) hereunder shall be promptly followed by a written or electronic confirmation of such request from Borrower Representative to Administrative Agent and Issuing Bankor Xxxxxxx Xxxxxx, if as applicable.
Appears in 4 contracts
Samples: Loan and Security Agreement (Century Aluminum Co), Loan and Security Agreement (Century Aluminum Co), Loan and Security Agreement (Century Aluminum Co)
Method of Making Requests. As an accommodation to Borrowers, unless a Default or an Event of Default is then in existence, (i) Administrative Agent shall permit telephonic or electronic requests for Revolving Credit Loans to Administrative Agent, (ii) Administrative Agent and Issuing Bank may, in their discretion, permit electronic transmittal of requests for Letters of Credit and LC Guaranties to them, and (iii) Administrative Agent may, in Administrative Agent’s 's discretion, permit electronic transmittal of instructions, authorizations, agreements or reports to Administrative Agent. Unless a Borrower Representative, on its own behalf and on behalf of all other Borrowers specifically directs Administrative Agent or Issuing Bank Bank, as applicable in writing not to accept or act upon telephonic or electronic communications from any Borrowersuch Borrower (which direction shall only be applicable to the Persons who have received the same in writing), neither Administrative Agent Agent, Bank nor Issuing Bank any Lender shall have any liability to Borrowers any Borrower for any loss or damage suffered by any Borrower as a result of Administrative Agent’s 's or Issuing Bank’s 's honoring of any requests, execution of any instructions, authorizations or agreements or reliance on any reports communicated to it telephonically or electronically and purporting to have been sent to Administrative Agent or Issuing Bank by any Borrower, and neither Administrative Agent nor Issuing or Bank shall have any duty to verify the origin of any such communication or the authority of the Person sending it. Each telephonic request for a Revolving Credit Loan or Letter of Credit or LC Guaranty accepted by Administrative Agent and Issuing Bank, if applicable, or Bank hereunder shall be promptly followed by a written confirmation of such request from the applicable Borrower Representative to Administrative Agent and Issuing Bank, if applicable.
Appears in 3 contracts
Samples: Loan and Security Agreement (Wabash National Corp /De), Loan and Security Agreement (Wabash National Corp /De), Loan and Security Agreement (Wabash National Corp /De)
Method of Making Requests. As an accommodation to Borrowers, unless a Default or an Event of Default is then in existence, (i) Administrative Agent shall permit telephonic or electronic requests for Revolving Credit Loans to Administrative Agent, (ii) Administrative Agent and Issuing Bank may, in their discretion, permit electronic transmittal of requests for Letters of Credit and LC Guaranties to them, and (iii) Administrative Agent may, in Administrative Agent’s 's discretion, permit electronic transmittal of instructions, authorizations, agreements or reports to Administrative Agent. Unless Borrower RepresentativeVEI, on its own behalf and on behalf of all other Borrowers Borrowers, specifically directs Administrative Agent or Issuing Bank in writing not to accept or act upon telephonic or electronic communications from any BorrowerBorrowers, neither Administrative Agent nor Issuing Bank shall have any liability to Borrowers for any loss or damage suffered by any Borrower as a result of Administrative Agent’s 's or Issuing Bank’s 's honoring of any requests, execution of any instructions, authorizations or agreements or reliance on any reports communicated to it telephonically or electronically and purporting to have been sent to Administrative Agent or Issuing Bank by any Borrower, and neither Administrative Agent nor Issuing Bank shall have any duty to verify the origin of any such communication or the authority of the Person sending it. Each telephonic request for a Revolving Credit Loan or Loan, Letter of Credit or LC Guaranty accepted by Administrative Agent and Issuing Bank, if applicable, hereunder shall be promptly followed by a written confirmation of such request from Borrower Representative VEI, on behalf of all Borrowers to Administrative Agent and Issuing Bank, if applicable.
Appears in 2 contracts
Samples: Loan and Security Agreement (Velocity Express Corp), Loan and Security Agreement (Velocity Express Corp)
Method of Making Requests. As an accommodation to Borrowers, unless a Default or an Event of Default is then in existence, (i) Administrative Agent shall permit telephonic or electronic requests for Revolving Credit Loans to Administrative Agent, (ii) Administrative Agent and Issuing Bank may, in their discretion, permit electronic transmittal of requests for Letters of Credit and LC Guaranties to them, and (iii) Administrative Agent may, in Administrative Agent’s discretion, permit electronic transmittal of instructions, authorizations, agreements or reports to Administrative Agent. Unless a Borrower Representative, on its own behalf and on behalf of all other Borrowers specifically directs Administrative Agent or Issuing Bank Bank, as applicable in writing not to accept or act upon telephonic or electronic communications from any Borrowersuch Borrower (which direction shall only be applicable to the Persons who have received the same in writing), neither Administrative Agent Agent, Bank nor Issuing Bank any Lender shall have any liability to Borrowers any Borrower for any loss or damage suffered by any Borrower as a result of Administrative Agent’s or Issuing Bank’s honoring of any requests, execution of any instructions, authorizations or agreements or reliance on any reports communicated to it telephonically or electronically and purporting to have been sent to Administrative Agent or Issuing Bank by any Borrower, and neither Administrative Agent nor Issuing or Bank shall have any duty to verify the origin of any such communication or the authority of the Person sending it. Each telephonic request for a Revolving Credit Loan or Letter of Credit accepted by Administrative Agent and Issuing Bank, if applicable, or Bank hereunder shall be promptly followed by a written confirmation of such request from the applicable Borrower Representative to Administrative Agent and Issuing Bank, if applicable.
Appears in 2 contracts
Samples: Loan and Security Agreement (Wabash National Corp /De), Loan and Security Agreement (Wabash National Corp /De)
Method of Making Requests. As an accommodation to BorrowersBorrower, unless a Default or an Event of Default is then in existence, (i) Administrative Agent shall permit telephonic or electronic requests for Revolving Credit Loans to Administrative Agent, (ii) Administrative Agent and Issuing Bank may, in their discretion, permit electronic transmittal of requests for Letters of Credit and LC Guaranties to them, and (iii) Administrative Agent may, in Administrative Agent’s 's discretion, permit electronic transmittal of instructions, authorizations, agreements or reports to Administrative Agent. Unless Borrower Representative, on its own behalf and on behalf of all other Borrowers specifically directs Administrative Agent or Issuing Bank in writing not to accept or act upon telephonic or electronic communications from any Borrower, neither Administrative Agent nor Issuing Bank nor any Lender shall have any liability to Borrowers Borrower for any loss or damage suffered by any Borrower as a result of Administrative Agent’s 's or Issuing Bank’s 's honoring of any requests, execution of any instructions, authorizations or agreements or reliance on any reports communicated to it telephonically or electronically and purporting to have been sent to Administrative Agent or Issuing Bank by any an authorized officer of Borrower, and neither Administrative Agent nor Issuing Bank shall have any duty to verify the origin of any such communication or the authority of the Person person sending it. Each telephonic request for a Revolving Credit Loan or Loan, Letter of Credit or LC Guaranty accepted by Administrative Agent and Issuing Bank, if applicable, hereunder shall be promptly followed by a written confirmation of such request from Borrower Representative to Administrative Agent and Issuing Bank, if applicable.
Appears in 2 contracts
Samples: Loan and Security Agreement (Mobile Mini Inc), Loan and Security Agreement (Mobile Mini Inc)
Method of Making Requests. As an accommodation to Borrowers, unless a Default or an Event of Default is then in existence, (i) Administrative Agent shall permit telephonic or electronic requests for Revolving Credit Loans to Administrative Agent, (ii) Administrative Agent and Issuing Bank may, in their discretion, permit electronic transmittal of requests for Letters of Credit and LC Guaranties to them, and (iii) Administrative Agent may, in Administrative Agent’s 's discretion, permit electronic transmittal of instructions, authorizations, agreements or reports to Administrative Agent. Unless Borrower Representative, on its own behalf and on behalf of all other Borrowers Representative specifically directs Administrative Agent or Issuing Bank in writing not to accept or act upon telephonic or electronic communications from any BorrowerBorrower Representative, neither Administrative Agent nor Issuing Bank nor any Lender shall have any liability to Borrowers any Borrower for any loss or damage suffered by any such Borrower as a result of Administrative Agent’s 's or Issuing Bank’s 's honoring of any requests, execution of any instructions, authorizations or agreements or reliance on any reports communicated to it telephonically or electronically and purporting to have been sent to Administrative Agent or Issuing Bank by any such Borrower, and neither Administrative Agent nor Issuing Bank shall have any duty to verify the origin of any such communication or the authority of the Person sending it. Each telephonic request for a Revolving Credit Loan or Loan, Letter of Credit or LC Guaranty accepted by Administrative Agent and Issuing Bank, if applicable, hereunder shall be promptly followed by a written confirmation of such request from Borrower Representative to Administrative Agent Lender and Issuing Bank, if applicable.
Appears in 2 contracts
Samples: Loan and Security Agreement (D & K Healthcare Resources Inc), Loan and Security Agreement (D & K Healthcare Resources Inc)
Method of Making Requests. As an accommodation to Borrowers, unless a Default or an Event of Default is then in existence, (i) Administrative Agent shall permit telephonic or electronic requests for Revolving Credit Loans to Administrative Agent, (ii) Administrative Agent and Issuing Bank may, in their discretion, permit electronic transmittal of requests for Letters of Credit to them, and (iii) Administrative Agent may, in Administrative Agent’s discretion, permit electronic transmittal of instructions, authorizations, agreements or reports to Administrative Agent. Unless Borrower Representative, on its own behalf and on behalf of all other Borrowers specifically directs Administrative Agent or Issuing Bank in writing not to accept or act upon telephonic or electronic communications from any Borrower, neither Administrative Agent nor Issuing Bank shall have any liability to Borrowers for any loss or damage suffered by any Borrower as a result of Administrative Agent’s or Issuing Bank’s honoring of any requests, execution of any instructions, authorizations or agreements or reliance on any reports communicated to it telephonically or electronically and purporting to have been sent to Administrative Agent or Issuing Bank by any Borrower, and neither Administrative Agent nor Issuing Bank shall have any duty to verify the origin of any such communication or the authority of the Person sending it. Each telephonic request for a Revolving Credit Loan or Letter of Credit accepted by Administrative Agent and Issuing Bank, if applicable, hereunder shall be promptly followed by a written confirmation of such request from Borrower Representative to Administrative Agent and Issuing Bank, if applicable.
Appears in 1 contract
Samples: Loan and Security Agreement (Ani Pharmaceuticals Inc)
Method of Making Requests. As an accommodation to Borrowers, unless Unless a Default or an Event of Default has occurred and is then in existencecontinuing, (i) Administrative Agent shall permit telephonic or electronic requests for Revolving Credit Loans to Administrative AgentAgent shall be permitted, (ii) Administrative Agent and Issuing Bank Letter of Credit Issuer may, in their its discretion, permit electronic transmittal of requests for Letters of Credit to themit, and (iii) Administrative Agent may, in Administrative Agent’s discretion, permit electronic transmittal of instructions, authorizations, agreements or reports to Administrative Agent. Unless Borrower Representative, on its own behalf and on behalf of all other Borrowers Representative specifically directs Administrative Agent or Issuing Bank Letter of Credit Issuer in writing not to accept or act upon telephonic or electronic communications from any Borrower, neither Administrative Agent nor Issuing Bank Letter of Credit Issuer shall have any liability to Borrowers for any loss or damage suffered by any Borrower as a result of Administrative Agent’s or Issuing BankLetter of Credit Issuer’s honoring of any requests, execution of any instructions, authorizations or agreements or reliance on any reports communicated to it telephonically or electronically and purporting to have been sent to Administrative Agent or Issuing Bank Letter of Credit Issuer by any Borrower, and, so long as Agent and Letter of Credit Issuer act in good faith, neither Administrative Agent nor Issuing Bank Letter of Credit Issuer shall have any duty to verify the origin of any such communication or the authority of the Person sending itcommunication. Each telephonic request for a Revolving Credit Loan or Letter of Credit accepted by Administrative Agent and Issuing Bank(or Letter of Credit Issuer, if as applicable, ) hereunder shall be promptly followed by a written or electronic confirmation of such request from Borrower Representative to Administrative Agent and Issuing Bankor Letter of Credit Issuer, if as applicable.
Appears in 1 contract
Method of Making Requests. As an accommodation to Borrowers, unless a Default or an Event of Default is then in existence, (i) Administrative Agent shall permit telephonic or electronic requests for Revolving Credit Loans to Administrative Agent, (ii) Administrative Agent and Issuing Bank may, in their discretion, permit electronic transmittal of requests for Delayed Draw Term Loans advances, Letters of Credit and LC Guarantees to them, and (iii) Administrative Agent may, in Administrative Agent’s its discretion, permit electronic transmittal of instructions, authorizations, agreements or reports to Administrative AgentAgents. Unless either Borrower Representative, on its own behalf and on behalf of all other Borrowers specifically directs Administrative Agent or Issuing Bank in writing not to accept or act upon telephonic or electronic communications from any such Borrower, neither Administrative any Agent nor Issuing Bank shall have any liability to Borrowers either Borrower for any loss or damage suffered by any such Borrower as a result of Administrative any Agent’s or Issuing Bank’s honoring honouring of any requests, execution of any instructions, authorizations or agreements or reliance on any reports communicated to it telephonically or electronically and purporting to have been sent to Administrative Agent or Issuing Bank by any either Borrower, and neither Administrative Agent nor Issuing Bank shall have any duty to verify the origin of any such communication or the authority of the Person sending it. Each telephonic or electronic request for a Revolving Credit Loan, Delayed Draw Term Loan or advance, Letter of Credit or LC Guarantee accepted by Administrative Agent and Issuing Bank, if applicable, hereunder shall be promptly followed by a written confirmation of such request from the applicable Borrower Representative to Administrative Agent and Issuing Bank, if applicable.
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Method of Making Requests. As an accommodation to Borrowers, unless a Default or an Event of Default is then in existence, (i) Administrative Agent shall permit telephonic or electronic requests for Revolving Credit Loans to Administrative AgentAgents, (ii) Administrative Agent and Issuing Bank may, in their discretion, permit electronic transmittal of requests for Letters of Credit and LC Guaranties to them, and (iii) Administrative Agent may, in Administrative Agent’s 's discretion, permit electronic transmittal of instructions, authorizations, agreements or reports to Administrative Agent. Unless Borrower RepresentativeMFRI, on its own behalf and on behalf of all other Borrowers Borrowers, specifically directs Administrative Agent or Issuing Bank in writing not to accept or act upon telephonic or electronic communications from any Borrower, neither Administrative Agent nor Issuing Bank shall have any liability to Borrowers for any loss or damage suffered by any Borrower as a result of Administrative Agent’s 's or Issuing Bank’s 's honoring of any requests, execution of any instructions, authorizations or agreements or reliance on any reports communicated to it telephonically or electronically and purporting to have been sent to Administrative Agent or Issuing Bank by any Borrower, and neither Administrative Agent nor Issuing Bank shall have any duty to verify the origin of any such communication or the authority of the Person sending it. Each telephonic request for a Revolving Credit Loan or Loan, Letter of Credit or LC Guaranty accepted by Administrative Agent and Issuing Bank, if applicable, hereunder shall be promptly followed by a written confirmation of such request from Borrower Representative MFRI, on its own behalf and on behalf of all other Borrowers, to Administrative Agent and Issuing Bank, if applicable.
Appears in 1 contract
Method of Making Requests. As an accommodation to Borrowers, unless a Default or an Event of Default is then in existence, (i) Administrative Agent shall permit telephonic or electronic requests for Revolving Credit Loans to Administrative Agent, (ii) Administrative Agent and Issuing Bank may, in their discretion, permit electronic transmittal of requests for Letters of Credit and LC Guaranties to them, and (iii) Administrative Agent may, in Administrative Agent’s discretion, permit electronic transmittal of instructions, authorizations, agreements or reports to Administrative Agent. Unless Borrower Representative, on its own behalf and on behalf of all other Borrowers specifically directs Administrative Agent or Issuing Bank in writing not to accept or act upon telephonic or electronic communications from any Borrower, neither Administrative Agent nor Issuing Bank shall have any liability to Borrowers for any loss or damage suffered by any Borrower as a result of Administrative Agent’s or Issuing Bank’s honoring of any requests, execution of any instructions, authorizations or agreements or reliance on any reports communicated to it telephonically or electronically and purporting to have been sent to Administrative Agent or Issuing Bank by any Borrower, and neither Administrative Agent nor Issuing Bank shall have any duty to verify the origin of any such communication or the authority of the Person sending it. Each telephonic request for a Revolving Credit Loan or Loan, Letter of Credit or LC Guaranty accepted by Administrative Agent and Issuing Bank, if applicable, hereunder shall be promptly followed by a written confirmation of such request from Borrower Representative to Administrative Agent and Issuing Bank, if applicable.
Appears in 1 contract
Method of Making Requests. As an accommodation to Borrowers, ------------------------- unless a Default or an Event of Default is then in existence, (i) Administrative Agent shall permit telephonic or electronic requests for Revolving Credit Loans to Administrative Agent, (ii) Administrative Agent and Issuing Bank may, in their discretion, permit electronic transmittal of requests for Letters of Credit and LC Guaranties to them, and (iii) Administrative Agent may, in Administrative Agent’s 's discretion, permit electronic transmittal of instructions, authorizations, agreements or reports to Administrative Agent. Unless a Borrower Representative, on its own behalf and on behalf of all other Borrowers specifically directs Administrative Agent or Issuing Bank in writing not to accept or act upon telephonic or electronic communications from any such Borrower, neither Administrative Agent nor Issuing Bank shall have any liability to Borrowers any Borrower for any loss or damage suffered by any Borrower as a result of Administrative Agent’s 's or Issuing Bank’s honoring 's honoring, in good faith, of any requests, execution of any instructions, authorizations or agreements or reliance on any reports communicated to it telephonically or electronically and purporting to have been sent to Administrative Agent or Issuing Bank by any Borrower, and neither Administrative Agent nor Issuing Bank shall have any duty to verify the origin of any such communication or the authority of the Person sending it. Each telephonic request for a Revolving Credit Loan or Letter of Credit or LC Guaranty accepted by Administrative Agent and Issuing Bank, if applicable, Bank hereunder shall be promptly followed by a written confirmation of such request from the applicable Borrower Representative to Administrative Agent and Issuing Bank, if applicable.
Appears in 1 contract
Samples: Loan and Security Agreement (Falcon Products Inc /De/)
Method of Making Requests. As an accommodation to Borrowers, ------------------------- unless a Default or an Event of Default is then in existence, (i) Administrative Agent shall permit telephonic or electronic requests for Revolving Credit Loans to Administrative Agent, (ii) Administrative Agent and Issuing Bank may, in their discretion, permit electronic transmittal of requests for Letters of Credit and LC Guaranties to them, and (iii) Administrative Agent may, in Administrative Agent’s 's discretion, permit electronic transmittal of instructions, authorizations, agreements or reports to Administrative Agent. Unless Borrower RepresentativeVEI, on its own behalf and on behalf of all other Borrowers Borrowers, specifically directs Administrative Agent or Issuing Bank in writing not to accept or act upon telephonic or electronic communications from any BorrowerBorrowers, neither Administrative Agent nor Issuing Bank shall have any liability to Borrowers for any loss or damage suffered by any Borrower as a result of Administrative Agent’s 's or Issuing Bank’s 's honoring of any requests, execution of any instructions, authorizations or agreements or reliance on any reports communicated to it telephonically or electronically and purporting to have been sent to Administrative Agent or Issuing Bank by any Borrower, and neither Administrative Agent nor Issuing Bank shall have any duty to verify the origin of any such communication or the authority of the Person sending it. Each telephonic request for a Revolving Credit Loan or Loan, Letter of Credit or LC Guaranty accepted by Administrative Agent and Issuing Bank, if applicable, hereunder shall be promptly followed by a written confirmation of such request from Borrower Representative VEI, on behalf of all Borrowers to Administrative Agent Lender and Issuing Bank, if applicable.
Appears in 1 contract
Samples: Loan and Security Agreement (Velocity Express Corp)
Method of Making Requests. As an accommodation to Borrowers, unless Unless a Default or an Event of Default has occurred and is then in existencecontinuing, (i) Administrative Agent shall permit telephonic or electronic requests for Revolving Credit Loans to Administrative AgentAgent shall be permitted, (ii) Administrative Agent and Issuing Bank Lender may, in their its discretion, permit electronic transmittal of requests for Letters of Credit to themit, and (iii) Administrative Agent may, in Administrative Agent’s 's discretion, permit electronic transmittal of instructions, authorizations, agreements or reports to Administrative Agent. Unless Borrower Representative, on its own behalf and on behalf of all other Borrowers Representative specifically directs Administrative Agent or Issuing Bank Lender in writing not to accept or act upon telephonic or electronic communications from any Borrower, neither Administrative Agent nor Issuing Bank Lender shall have any liability to Borrowers for any loss or damage suffered by any Borrower as a result of Administrative Agent’s 's or Issuing Bank’s Lender's honoring of any requests, execution of any instructions, authorizations or agreements or reliance on any reports communicated to it telephonically or electronically and purporting to have been sent to Administrative Agent or Issuing Bank Lender by any Borrower, and, so long as Agent and Issuing Lender act in good faith, neither Administrative Agent nor Issuing Bank Lender shall have any duty to verify the origin of any such communication or the authority of the Person sending itcommunication. Each telephonic request for a Revolving Credit Loan or Letter of Credit accepted by Administrative Agent and (or Issuing BankLender, if as applicable, ) hereunder shall be promptly followed by a written or electronic confirmation of such request from Borrower Representative to Administrative Agent and or Issuing BankLender, if as applicable.
Appears in 1 contract
Method of Making Requests. As an accommodation to BorrowersBorrower, unless a Default or an Event of Default is then in existence, (i) Administrative Agent shall permit telephonic or electronic requests for Revolving Credit Loans to Administrative Agent, (ii) Administrative Agent and Issuing Bank may, in their discretion, permit electronic transmittal of requests for Letters of Credit and LC Guaranties to them, and (iii) Administrative Agent may, in Administrative Agent’s 's discretion, permit electronic transmittal of instructions, authorizations, agreements or reports to Administrative Agent. Unless Borrower Representative, on its own behalf and on behalf of all other Borrowers specifically directs Administrative Agent or Issuing Bank in writing not to accept or act upon telephonic or electronic communications from any Borrower, neither Administrative Agent nor Issuing Bank nor any Lender shall have any liability to Borrowers Borrower for any loss or damage suffered by any Borrower as a result of Administrative Agent’s 's or Issuing Bank’s 's honoring of any requests, execution of any instructions, authorizations or agreements or reliance on any reports communicated to it telephonically or electronically and purporting to have been sent to Administrative Agent or Issuing Bank by any an authorized officer of Borrower, and neither Administrative Agent nor Issuing Bank shall have any duty to verify the origin of any such communication or the authority of the Person person sending it. Each telephonic request for a Revolving Credit Loan or Letter of Credit accepted by Administrative Agent and Issuing Bank, if applicable, hereunder shall be promptly followed by a written confirmation of such request from Borrower Representative to Administrative Agent and Issuing Bank, if applicableAgent.
Appears in 1 contract
Method of Making Requests. As an accommodation to BorrowersBorrower, unless a Default or an Event of Default is then in existence, (i) Administrative Agent shall permit telephonic or electronic requests for Revolving Credit Loans to Administrative Agent, (ii) Administrative Agent and Issuing Bank may, in their discretion, permit electronic transmittal of requests for Letters of Credit and LC Guaranties to them, and (iii) Administrative Agent may, in Administrative Agent’s its discretion, permit electronic transmittal of instructions, authorizations, agreements or reports to Administrative Agent. Unless Borrower Representative, on its own behalf and on behalf of all other Borrowers specifically directs Administrative Agent or Issuing Bank in writing not to accept or act upon telephonic or electronic communications from any Borrower, neither Administrative Agent nor Issuing Bank shall have any liability to Borrowers Borrower for any loss or damage suffered by any Borrower as a result of Administrative Agent’s 's or Issuing Bank’s 's honoring of any requests, execution of any instructions, authorizations or agreements or reliance on any reports communicated to it telephonically or electronically and purporting to have been sent to Administrative Agent or Issuing Bank by any BorrowerBorrower (except with respect to acts of gross negligence or willful misconduct by Agent or Issuing Bank), and neither Administrative Agent nor Issuing Bank shall have any duty to verify the origin of any such communication or the authority of the Person sending it. Each telephonic request for a Revolving Credit Loan or Letter of Credit or LC Guaranty accepted by Administrative Agent and Issuing Bank, if applicable, Bank hereunder shall be promptly followed by a written confirmation of such request from Borrower Representative to Administrative Agent and Issuing Bank, if applicable.
Appears in 1 contract
Method of Making Requests. As an accommodation to Borrowers, unless a Default or an Event of Default is then in existence, (i) Administrative Agent shall permit telephonic or electronic requests for Revolving Credit Loans to Administrative AgentAgents, (ii) Administrative Agent and Issuing Bank may, in their discretion, permit electronic transmittal of requests for Letters of Credit and LC Guaranties to them, and (iii) Administrative Agent may, in Administrative Agent’s discretion, permit electronic transmittal of instructions, authorizations, agreements or reports to Administrative Agent. Unless Borrower RepresentativeMFRI, on its own behalf and on behalf of all other Borrowers Borrowers, specifically directs Administrative Agent or Issuing Bank in writing not to accept or act upon telephonic or electronic communications from any Borrower, neither Administrative Agent nor Issuing Bank shall have any liability to Borrowers for any loss or damage suffered by any Borrower as a result of Administrative Agent’s or Issuing Bank’s honoring of any requests, execution of any instructions, authorizations or agreements or reliance on any reports communicated to it telephonically or electronically and purporting to have been sent to Administrative Agent or Issuing Bank by any Borrower, and neither Administrative Agent nor Issuing Bank shall have any duty to verify the origin of any such communication or the authority of the Person sending it. Each telephonic request for a Revolving Credit Loan or Loan, Letter of Credit or LC Guaranty accepted by Administrative Agent and Issuing Bank, if applicable, hereunder shall be promptly followed by a written confirmation of such request from Borrower Representative MFRI, on its own behalf and on behalf of all other Borrowers, to Administrative Agent and Issuing Bank, if applicable.. 3.1.7
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