Method of Selecting Types and Interest Periods for Advances. The Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Rate Loans, the Interest Period applicable to each Advance from time to time. The Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B hereto (a “Borrowing/Election Notice”) not later than 11:00 a.m. (Chicago time) (a) on or before the Borrowing Date of each Advance of Floating Rate Loans and (b) three (3) Business Days before the Borrowing Date for each Advance of Eurodollar Rate Loans specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Rate Loans, the Interest Period applicable thereto; provided, however, that with respect to the borrowing on the Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower shall select Interest Periods so that, to the best of the Borrower’s knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Rate Loans prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, to (but not including) the date of repayment thereof at the Alternate Base Rate, changing when and as such Alternate Base Rate changes. Changes in the rate of interest on that portion of the Loans maintained as Floating Rate Loans will take effect simultaneously with each change in the Alternate Base Rate. Each Advance of Eurodollar Rate Loans shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Advance, changing when and as the Applicable Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans will take effect simultaneously with each change in the Applicable Margin.
Appears in 4 contracts
Samples: Credit Agreement (Energizer SpinCo, Inc.), Credit Agreement (Energizer Holdings Inc), Escrow Agreement (Energizer SpinCo, Inc.)
Method of Selecting Types and Interest Periods for Advances. The Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Rate Loans, Advance and the Interest Period applicable to each Advance from time to time. The Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B hereto (a “Borrowing/Election Notice”) not later than 11:00 a.m. 12:00 noon (Chicago Chicago, Illinois time) (aA) on or before the Borrowing Date of each Advance of Floating Rate Loans Advance, and (bB) three (3) Business Days before the Borrowing Date for each Advance of Eurodollar Rate Loans Advance, specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable thereto; provided, however, that with respect to the borrowing on the Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower shall select Interest Periods so that, to the best of the Borrower’s its knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Rate Loans Loan prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. With respect to the Term Loans, the Borrower may not select an Interest Period that ends after the Term Loan Final Maturity Date. With respect to the Revolving Loans, the Borrower may not select an Interest Period that ends after the Revolving Loan Termination Date. Each Advance of Floating Rate Loans Advance and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, to (but not including) the date of repayment thereof at the Alternate Base Floating Rate, changing when and as such Alternate Base Floating Rate changes. Changes in the rate of interest on that portion of the Loans any Advance maintained as a Floating Rate Loans Loan will take effect simultaneously with each change in the Alternate Base Rate. Each Advance of Eurodollar Rate Loans Advance shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Advance, changing Eurodollar Rate Advance and shall change as and when and as the Applicable Eurodollar Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans will take effect simultaneously with each change in the Applicable Margin.
Appears in 3 contracts
Samples: Credit Agreement (Alion Science & Technology Corp), Credit Agreement (Alion Science & Technology Corp), Credit Agreement (Alion Science & Technology Corp)
Method of Selecting Types and Interest Periods for Advances. The applicable Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable to each Advance from time to time. The applicable Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B hereto (a “"Borrowing/Election Notice”") not later than 11:00 10:00 a.m. (Chicago time) (a) on or before the Borrowing Date of each Advance of Floating Rate Loans and Advance, (b) three (3) Business Days before the Borrowing Date for each Advance of Eurodollar Rate Loans specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Rate Loans, the Interest Period applicable thereto; provided, however, that with respect to the borrowing on the Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower Borrowers shall select Interest Periods so that, to the best of the Borrower’s their knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Rate Loans Loan prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans Advance and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, to (but not including) the date of repayment thereof at the Alternate Base Rate, Floating Rate changing when and as such Alternate Base Floating Rate changes. Changes in the rate of interest on that portion of the Loans any Advance maintained as a Floating Rate Loans Loan will take effect simultaneously with each change in the Alternate Base Rate. Each Advance of Eurodollar Rate Loans Advance shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Advance, changing Eurodollar Rate Advance and shall change as and when and as the Applicable Eurodollar Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans will take effect simultaneously with each change in the Applicable Margin.
Appears in 3 contracts
Samples: Credit Agreement (Chicago Bridge & Iron Co N V), Credit Agreement (Chicago Bridge & Iron Co N V), 364 Day Credit Agreement (Chicago Bridge & Iron Co N V)
Method of Selecting Types and Interest Periods for Advances. The applicable Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable to each Advance from time to time. The applicable Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B hereto (a “Borrowing/Election Notice”) not later than 11:00 10:00 a.m. (Chicago time) (a) on or before the Borrowing Date of each Advance of Floating Rate Loans and Advance, (b) three (3) Business Days before the Borrowing Date for each Advance of Eurodollar Rate Loans specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Rate Loans, the Interest Period applicable thereto; provided, however, that with respect to the borrowing on the Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower Borrowers shall select Interest Periods so that, to the best of the Borrower’s their knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Rate Loans Loan prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans Advance and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, to (but not including) the date of repayment thereof at the Alternate Base Rate, Floating Rate changing when and as such Alternate Base Floating Rate changes. Changes in the rate of interest on that portion of the Loans any Advance maintained as a Floating Rate Loans Loan will take effect simultaneously with each change in the Alternate Base Rate. Each Advance of Eurodollar Rate Loans Advance shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Advance, changing Eurodollar Rate Advance and shall change as and when and as the Applicable Eurodollar Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans will take effect simultaneously with each change in the Applicable Margin.
Appears in 3 contracts
Samples: Credit Agreement (Chicago Bridge & Iron Co N V), Credit Agreement (Chicago Bridge & Iron Co N V), Credit Agreement (Chicago Bridge & Iron Co N V)
Method of Selecting Types and Interest Periods for Advances. The Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Rate Loans, the Interest Period applicable to each Advance from time to time. The Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B hereto (a “Borrowing/Election Notice”) not later than 11:00 a.m. (Chicago time) (a) on or before the Borrowing Date of each Advance of Floating Rate Loans and (b) three (3) Business Days before the Borrowing Date for each Advance of Eurodollar Rate Loans specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Rate Loans, the Interest Period applicable thereto; provided, however, that with respect to the borrowing on the Funding Escrow Date, such notice shall be delivered in accordance with the terms of Section 2.01(bSection 2.01(d) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower shall select Interest Periods so that, to the best of the Borrower’s knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Rate Loans prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, to (but not including) the date of repayment thereof at the Alternate Base Rate, changing when and as such Alternate Base Rate changes. Changes in the rate of interest on that portion of the Loans maintained as Floating Rate Loans will take effect simultaneously with each change in the Alternate Base Rate. Each Advance of Eurodollar Rate Loans shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Advance, changing when and as the Applicable Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans will take effect simultaneously with each change in the Applicable Margin.
Appears in 2 contracts
Samples: Incremental Term Loan Amendment and Refinancing Amendment (Energizer Holdings, Inc.), Credit Agreement (Energizer Holdings, Inc.)
Method of Selecting Types and Interest Periods for Advances. The Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Eurocurrency Rate LoansAdvance, the Interest Period applicable to each Advance from time to time. The Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B hereto (a “"Borrowing/Election Notice”") not later than 11:00 a.m. (Chicago Miami time) (a) on or before the Borrowing Date of each Advance of Floating Rate Loans Advance and (b) three (3) Business Days before the Borrowing Date for each Eurocurrency Rate Advance of Eurodollar Rate Loans specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selectedselected (which Type shall be limited to Eurocurrency Rate Loans and Floating Rate Loans); and (iv) in the case of each Advance of Eurodollar Eurocurrency Rate LoansAdvance, the Interest Period applicable thereto; provided, however, that with respect to the borrowing on the Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower shall select Interest Periods so that, to the best of the Borrower’s 's knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Eurocurrency Rate Loans Loan prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans Advance and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, to (but not including) the date of repayment thereof at the Alternate Base Floating Rate, changing when and as such Alternate Base Floating Rate changes. Changes in the rate of interest on that portion of the Loans any Advance maintained as a Floating Rate Loans Loan will take effect simultaneously with each change in the Alternate Base RateRate and the Applicable Floating Rate Margin. Each Eurocurrency Rate Advance of Eurodollar Rate Loans shall bear interest at the Eurocurrency Rate, from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Advance, changing Eurocurrency Rate Advance and shall change as and when and as the Applicable Eurocurrency Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans will take effect simultaneously with each change in the Applicable Margin.
Appears in 2 contracts
Samples: Credit Agreement (Steiner Leisure LTD), Credit Agreement (Steiner Leisure LTD)
Method of Selecting Types and Interest Periods for Advances. The Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable to each Advance from time to time. The Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B hereto (a “Borrowing"BORROWING/Election Notice”ELECTION NOTICE") not later than 11:00 10:00 a.m. (Chicago time) (a) on or before the Borrowing Date of each Advance of Floating Rate Loans Advance and (b) three (3) Business Days before the Borrowing Date for each Advance of Eurodollar Rate Loans Advance specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable thereto; provided, however, that with respect to the borrowing on the Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower shall select Interest Periods so that, to the best of the Borrower’s knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Rate Loans prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans Advance and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, to (but not including) the date of repayment thereof at the Alternate Base Floating Rate, changing when and as such Alternate Base Floating Rate changes. Changes in the rate of interest on that portion of the Loans maintained as Floating Rate Loans will take effect simultaneously with each change in the Alternate Base Rate. Each Advance of Eurodollar Rate Loans Advance shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Eurodollar Rate Advance, changing when and as the Applicable Eurodollar Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans Advances will take effect simultaneously with each change in the Applicable Eurodollar Margin.
Appears in 2 contracts
Samples: Credit Agreement (Catalina Marketing Corp/De), Credit Agreement (Catalina Marketing Corp/De)
Method of Selecting Types and Interest Periods for Advances. The Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Rate Loans, Advance and the Interest Period applicable to each Advance from time to time. The Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B hereto (a “Borrowing"BORROWING/Election Notice”ELECTION NOTICE") not later than 11:00 a.m. 12:00 noon (Chicago Chicago, Illinois time) (aA) on or before the Borrowing Date of each Advance of Floating Rate Loans Advance, and (bB) three (3) Business Days before the Borrowing Date for each Advance of Eurodollar Rate Loans Advance, specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable thereto; provided, however, that with respect to the borrowing on the Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower shall select Interest Periods so that, to the best of the Borrower’s its knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Rate Loans Loan prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. With respect to the Term Loans, the Borrower may not select an Interest Period that ends after the Term Loan Final Maturity Date. With respect to the Revolving Loans, the Borrower may not select an Interest Period that ends after the Revolving Loan Termination Date. Each Advance of Floating Rate Loans Advance and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, to (but not including) the date of repayment thereof at the Alternate Base Floating Rate, changing when and as such Alternate Base Floating Rate changes. Changes in the rate of interest on that portion of the Loans any Advance maintained as a Floating Rate Loans Loan will take effect simultaneously with each change in the Alternate Base Rate. Each Advance of Eurodollar Rate Loans Advance shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Advance, changing Eurodollar Rate Advance and shall change as and when and as the Applicable Eurodollar Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans will take effect simultaneously with each change in the Applicable Margin.
Appears in 2 contracts
Samples: Credit Agreement (Alion Science & Technology Corp), Credit Agreement (Alion Science & Technology Corp)
Method of Selecting Types and Interest Periods for Advances. The Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Rate Loans, the Interest Period applicable to each Advance from time to time. The Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B hereto (a “Borrowing/Election Notice”) not later than 11:00 a.m. (Chicago New York City time) (a) on or one (1) Business Day before the Borrowing Date of each Advance of Floating Rate ABR Loans; provided, that same-day notice of not later than 11:00 a.m. shall be permitted for up to an aggregate principal amount of $25,000,000 of Loans under the Revolving Facility and (b) three (3) Business Days before the Borrowing Date for each Advance of Eurodollar Rate Loans specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Rate Loans, the Interest Period applicable thereto; provided, however, that with respect to the borrowing on the Funding Closing Date, such notice shall be delivered in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower shall select Interest Periods so that, to the best of the Borrower’s knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Rate Loans prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate ABR Loans and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate ABR Loans, and the date such Obligation is due and owing in the case of such other Obligations, to (but not including) the date of repayment thereof at the Alternate Base Rate, changing when and as such Alternate Base Rate changes. Changes in the rate of interest on that portion of the Loans maintained as Floating Rate ABR Loans will take effect simultaneously with each change in the Alternate Base Rate. Each Advance of Eurodollar Rate Loans shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Advance, changing when and as the Applicable Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans will take effect simultaneously with each change in the Applicable Margin.
Appears in 2 contracts
Samples: Refinancing Amendment (Inovalon Holdings, Inc.), Credit Agreement (Inovalon Holdings, Inc.)
Method of Selecting Types and Interest Periods for Advances. The Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable to each Advance from time to time. The Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B C hereto (a “Borrowing/Election "Borrowing Notice”") not later than 11:00 10:00 a.m. (Chicago Indianapolis time) (a) on or before the Borrowing Date of each Advance of Floating Rate Loans Advance and (b) three (3) Business Days before the Borrowing Date for each Advance of Eurodollar Rate Loans Advance, specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable thereto; provided, however, that with respect to the borrowing on the Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower shall select Interest Periods so that, to the best of the Borrower’s 's knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Rate Loans Advance prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans Advance and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, Advance to (but not including) the date of repayment thereof at the Alternate Base Floating Rate, changing when and as such Alternate Base Floating Rate changes. Changes in the rate of interest on that portion of the Loans any Advance maintained as a Floating Rate Loans Loan will take effect simultaneously with each change in the Alternate Base Rate. Each Advance of Eurodollar Rate Loans Advance shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Advance, changing when and as the Applicable Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans will take effect simultaneously with each change in the Applicable MarginAdvance.
Appears in 2 contracts
Samples: Credit Agreement (Finishmaster Inc), Credit Agreement (Finishmaster Inc)
Method of Selecting Types and Interest Periods for Advances. The applicable Borrower shall select the Type and Class of Advance Advance, the Agreed Currency and/or Alternate Currency and, in the case of each Advance of Eurodollar Fixed Rate LoansAdvance, the Interest Period applicable to each such Advance from time to time. The applicable Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B A hereto (a “Borrowing/Election Conversion/Continuation Notice”) not later than 11:00 a.m. (Chicago New York time) (a) on or one (1) Business Day before the Borrowing Date of each Advance of Floating Rate Loans Advance, and (b) three (3) Business Days before the Borrowing Date for each Eurocurrency Rate Advance, to be made in Dollars, (c) four (4) Business Days before the Borrowing Date for each Eurocurrency Rate Advance of Eurodollar Rate Loans to be made in any Agreed Currency other than Dollars and (d) four (4) Business Days before the Borrowing Date for each Alternate Currency Loan (or such other period as may be agreed to by the Administrative Agent and the applicable Borrower), provided that such notice to the applicable Alternate Currency Lender shall be given by 11:00 a.m. (local time) specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; (iv) the Agreed Currency or Alternate Currency applicable thereto; and (ivv) in the case of each Advance of Eurodollar Fixed Rate LoansLoan, the Interest Period applicable thereto; provided, however, that with respect to the borrowing on the Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower shall select Interest Periods so that, to the best of the Borrower’s knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Rate Loans prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereofPeriod. Each Advance of Floating Rate Loans Advance and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, Advance in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, to (but not including) the date of repayment thereof at the Alternate Base Floating Rate, changing when and as such Alternate Base Floating Rate changes. Changes in the rate of interest on that portion of the Loans any Advance maintained as a Floating Rate Loans Loan will take effect simultaneously with each change in the Alternate Base Rate or Alternate Currency Rate, as applicable. Each Fixed Rate Advance of Eurodollar Rate Loans shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Fixed Rate Advance, changing when and as the Applicable Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans will take effect simultaneously with each change in the Applicable Margin.
Appears in 2 contracts
Samples: Credit Agreement (Trimble Navigation LTD /Ca/), Credit Agreement (Trimble Navigation LTD /Ca/)
Method of Selecting Types and Interest Periods for Advances. The Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable to each Advance from time to time. The Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B hereto (a “Borrowing/Election "Borrowing Notice”") not later than 11:00 a.m. (Chicago time) (a) on or before the Borrowing Date of each Advance of Floating Rate Loans Advance and not later than 11:00 a.m. (bChicago time) three (3) Business Days before the Borrowing Date for each Advance of Eurodollar Rate Loans Advance, specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable thereto; provided, however, that with respect to the borrowing on the Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower shall select Interest Periods so that, to the best of the Borrower’s knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Rate Loans prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans Advance and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, Advance to (but not including) the date of repayment thereof at the Alternate Base Floating Rate, changing when and as - 45 - such Alternate Base Floating Rate changes. Changes in the rate of interest on that portion of the Loans any Advance maintained as a Floating Rate Loans Loan will take effect simultaneously with each change in the Alternate Base Rate. Each Advance of Eurodollar Rate Loans Advance shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Eurodollar Rate Advance, changing when and (only as to the Applicable Eurodollar Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans will take effect simultaneously thereof) with each change in the Applicable Eurodollar Margin.
Appears in 2 contracts
Samples: Credit Agreement (Gfsi Inc), Credit Agreement (Gfsi Inc)
Method of Selecting Types and Interest Periods for Advances. (a) The Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Fixed Rate LoansAdvance, the Interest Period applicable to each Advance from time to time; PROVIDED, HOWEVER, that the Borrower may have no more than ten (10) Fixed Rate Advances in Facility A and ten (10) Fixed Rate Advances in Facility B outstanding at any one time. The Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B hereto (a “Borrowing/Election "Borrowing Notice”") not later than 11:00 10:00 a.m. (Chicago time) (a) on or before the Borrowing Date of for each Advance of Floating Rate Loans Advance and prior to 10:00 a.m. (bChicago time) three (3) on the date which is two Business Days before the Borrowing Date for each Advance of Eurodollar Fixed Rate Loans Advance, specifying: :
(i) the Borrowing Date (Date, which shall be a Business Day) , of such Advance; ,
(ii) the aggregate amount of such Advance; ,
(iii) the Type and Class of Advance selected; and , and
(iv) in the case of each Advance of Eurodollar Fixed Rate LoansAdvance, the Interest Period applicable thereto; provided, however, that with respect to the borrowing on the Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower shall select Interest Periods so thatbe entitled to obtain only one Advance in any single Business Day, to the best of the Borrower’s knowledge, it will not which may be necessary to prepay all comprised in whole or any portion in part of any Advance of Eurodollar Fixed Rate Loans prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, to (but not including) the date of repayment thereof at the Alternate Base Rate, changing when and as such Alternate Base Rate changes. Changes in the rate of interest on that portion of the Loans any Advance maintained as a Floating Rate Loans Advance will take effect simultaneously with each change in the Alternate Base Floating Rate. Each Fixed Rate Advance of Eurodollar Rate Loans shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Fixed Rate Advance. The Borrower shall select Interest Periods with respect to Fixed Rate Advances so that it is not necessary to pay a Fixed Rate Advance prior to the last day of the applicable Interest Period in order to make any mandatory payment required to be made pursuant to Section 2.02 above or to repay the Obligations in full on the Maturity Date.
(b) Each Borrowing Notice shall be irrevocable and binding on the Borrower and, changing when and as in respect of the Applicable Margin changes. Changes borrowing specified in the rate Borrowing Notice, the Borrower shall indemnify each Lender against any loss or expense incurred by that Lender as a result of interest any failure to fulfill the applicable conditions set forth in Section 5.02 on or before the proposed Borrowing Date specified in the Borrowing Notice, including, without limitation, any loss (including loss of profit) or expense incurred by reason of the liquidation or reemployment of deposits or other funds acquired by any Lender to fund the Loan to be made by that Lender as part of that borrowing when that Loan, as a result of that failure, is not made on that portion of the Loans maintained as Eurodollar Rate Loans will take effect simultaneously with each change in the Applicable Margindate.
Appears in 2 contracts
Samples: Credit Agreement (LNR Property Corp), Credit Agreement (Lennar Corp)
Method of Selecting Types and Interest Periods for Advances. The applicable Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Eurocurrency Rate LoansAdvance, the Interest Period Period, Agreed Currency and/or Alternate Currency applicable to each Advance from time to time. The applicable Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B hereto (a “"Borrowing/Election Conversion/Continuation Notice”") not later than 11:00 a.m. (Chicago New York time) (a) on or one (1) Business Day before the Borrowing Date of each Advance of Floating Rate Loans Advance, and (b) three (3) Business Days before the Borrowing Date for each Eurocurrency Rate Advance of Eurodollar to be made in Dollars, and (c) four (4) Business Days before the Borrowing Date for each Eurocurrency Rate Loans Advance to be made in any Agreed Currency other than Dollars and (d) three (3) Business Days before the Borrowing Date for each Alternate Currency Loan (or such other period as may be agreed to by the Administrative Agent and the applicable Borrower), and the applicable Borrower shall give the applicable Alternate Currency Bank irrevocable notice by 11:00 a.m. (local time) three (3) Business Days prior to the Borrowing Date for such Alternate Currency Loan (or such other period as may be agreed to by the applicable Alternate Currency Bank or specified in the applicable Alternate Currency Addendum), specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; (iv) whether the Advance will be a Tranche A Advance, a Tranche B Advance, a Tranche C Advance or a Tranche D Advance; and (ivv) in the case of each Advance of Eurodollar Eurocurrency Rate LoansLoan, the Interest Period and Agreed Currency or Alternate Currency applicable thereto; provided, however, that with respect to the borrowing on the Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower shall select Interest Periods so that, to the best of the Borrower’s knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Rate Loans prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans Advance, each Alternate Currency Loan bearing a fluctuating Alternate Currency Rate and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, to (but not including) the date of repayment thereof at the Floating Rate or Alternate Base Currency Rate, as applicable, changing when and as such Floating Rate or Alternate Base Rate Currency Rate, as applicable, changes. Changes in the rate of interest on that portion of the Loans any Advance maintained as a Floating Rate Loans Loan will take effect simultaneously with each change in the Alternate Base Rate. Changes in the rate of interest on any portion of any Alternate Currency Loan bearing a fluctuating Alternate Currency Rate will take effect simultaneously with each change in such Alternate Currency Rate. Each Eurocurrency Rate Advance of Eurodollar Rate Loans shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Advance, changing Eurocurrency Rate Advance and shall change as and when and as the Applicable Eurocurrency Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans will take effect simultaneously with each change in the Applicable Margin.
Appears in 2 contracts
Samples: Credit Agreement (Trimble Navigation LTD /Ca/), Credit Agreement (Trimble Navigation LTD /Ca/)
Method of Selecting Types and Interest Periods for Advances. The applicable Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Eurocurrency Rate LoansAdvance, the Interest Period applicable to each such Eurocurrency Rate Advance from time to time. The applicable Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B A hereto (a “"Borrowing/Election Conversion/Continuation Notice”") not later than 11:00 a.m. (Chicago New York time) (a) on or one (1) Business Day before the Borrowing Date of each Advance of Floating Rate Loans Advance, and (b) three (3) Business Days before the Borrowing Date for each Advance of Eurodollar Eurocurrency Rate Loans Advance, specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Eurocurrency Rate LoansLoan, the Interest Period applicable thereto; provided, however, that with respect to the borrowing on the Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower shall select Interest Periods so that, to the best of the Borrower’s knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Rate Loans prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereofPeriod. Each Advance of Floating Rate Loans Advance and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, Advance in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, to (but not including) the date of repayment thereof at the Alternate Base Floating Rate, changing when and as such Alternate Base Floating Rate changes. Changes in the rate of interest on that portion of the Loans any Advance maintained as a Floating Rate Loans Loan will take effect simultaneously with each change in the Alternate Base Rate. Each Eurocurrency Rate Advance of Eurodollar Rate Loans shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Advance, changing Eurocurrency Rate Advance and shall change as and when and as the Applicable Eurocurrency Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans will take effect simultaneously with each change in the Applicable Margin.
Appears in 2 contracts
Samples: Credit Agreement (Trimble Navigation LTD /Ca/), Credit Agreement (Trimble Navigation LTD /Ca/)
Method of Selecting Types and Interest Periods for Advances. The Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable to each Advance from time to time. The Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit EXHIBIT B hereto (a “Borrowing"BORROWING/Election Notice”CONVERSION/CONTINUATION NOTICE") not later than 11:00 a.m. (Chicago time) (a) on or before the Borrowing Date of each Advance of Floating Rate Loans Advance and (b) three (3) Business Days before the Borrowing Date for each Advance of Eurodollar Rate Loans Advance, specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable thereto; provided, however, that with respect to the borrowing on the Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower shall select Interest Periods so that, to the best of the Borrower’s knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Rate Loans prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans Advance and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, to (but not including) the date of repayment thereof at the Alternate Base Floating Rate, changing when and as such Alternate Base Floating Rate changes. Changes in the rate of interest on that portion of the Loans any Advance maintained as a Floating Rate Loans Loan will take effect simultaneously with each change in the Alternate Base Rate. Each Advance of Eurodollar Rate Loans Advance shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Eurodollar Rate Advance; PROVIDED, changing that the Eurodollar Rate applicable to any Eurodollar Rate Advance shall change when and as the Applicable Eurodollar Rate Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans will take effect simultaneously with each change in the Applicable Margin.
Appears in 2 contracts
Samples: Long Term Credit Agreement (Ball Corp), Short Term Credit Agreement (Ball Corp)
Method of Selecting Types and Interest Periods for Advances. The ------------------------------------------------------------------ Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable to each Advance from time to time. The Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B hereto (a “"Borrowing/Election Notice”") not --------- later than 11:00 a.m. (Chicago time) (a) on or before the Borrowing Date of each Advance of Floating Rate Loans Advance and (b) three (3) Business Days before the Borrowing Date for each Advance of Eurodollar Rate Loans Advance specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable thereto; provided, -------- however, that with respect to the borrowing on the Initial Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b2.1(a) and -------------- shall be accompanied by the documentation specified in such Section, if applicable. The Borrower shall select Interest Periods so that, to the best of the Borrower’s 's knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Rate Loans Advance prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans Advance and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate LoansAdvances, and the date such Obligation is due and owing in the case of such other Obligations, to (but not including) the date of repayment thereof at the Alternate Base Rate, changing when and as such Alternate Base Rate changes. Changes in the rate of interest on that portion of the Loans maintained as Floating Rate Loans will take effect simultaneously with each change in the Alternate Base Rate. Each Advance of Eurodollar Rate Loans Advance shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Eurodollar Rate Advance, changing when and as the Applicable Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans Advances will take effect simultaneously with each change in the Applicable Margin.
Appears in 2 contracts
Samples: Revolving Credit Agreement (Ralston Purina Co), 364 Day Credit Agreement (Ralston Purina Co)
Method of Selecting Types and Interest Periods for Advances. The Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable to each Advance from time to time. The Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B hereto (a “Borrowing/Election "Borrowing Notice”") not later than 11:00 a.m. (Chicago time) (a) on or before the Borrowing Date of each Advance of Floating Rate Loans Advance and (b) three (3) Business Days before the Borrowing Date for each Advance of Eurodollar Rate Loans Advance, specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable thereto; provided, however, that with respect to the borrowing on the Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower shall select Interest Periods so that, to the best of the Borrower’s 's knowledge, it will not be necessary to prepay all or any portion of any Eurodollar Advance of Eurodollar Rate Loans prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans and all Obligations other than Loans Advance shall bear interest from and including the later of (i) the date of the making of such Advance, in Advance or (ii) the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, Effective Date to (but not including) the date of repayment thereof at the Alternate Base Floating Rate, changing when and as such Alternate Base Floating Rate changes. All Obligations (other than Advances) shall bear interest from and including the date such Obligation is payable under the terms of this Agreement or any other Loan Document to (but not including) the date of payment thereof at the Floating Rate, changing when and as such Floating Rate changes. Changes in the rate of interest on that portion of the Loans any Advance maintained as a Floating Rate Loans Loan or other Obligations which bear interest by reference to the Floating Rate will take effect simultaneously with each change in the Alternate Base Rate. Each Eurodollar Advance of Eurodollar Rate Loans shall bear interest from and including the later of (i) the first day of the Interest Period applicable thereto or (ii) the Effective Date to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Eurodollar Advance, changing when and as only with respect to the Applicable Eurodollar Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans will to take effect simultaneously with each change in the Applicable Eurodollar Margin. Interest with respect to Advances made prior to the Effective Date shall be calculated and paid in accordance with the terms of the Restated Credit Agreement for periods prior to the Effective Date.
Appears in 1 contract
Samples: Credit Agreement (SCP Pool Corp)
Method of Selecting Types and Interest Periods for Advances. The Borrower Borrowers shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable to each Advance from time to time. The Borrower Borrowers shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B C hereto (a “Borrowing/Election "Borrowing Notice”") not later than 11:00 10:00 a.m. (Chicago Indianapolis time) (a) on or before the Borrowing Date of each Advance of Floating Rate Loans Advance and (b) three (3) Business Days before the Borrowing Date for each Advance of Eurodollar Rate Loans Advance, specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable thereto; provided, however, that with respect to the borrowing on the Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower Borrowers shall select Interest Periods so that, to the best of the Borrower’s Borrowers' knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Rate Loans Advance prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to and no Interest Period shall extend beyond the terms hereofTermination Date. Each Advance of Floating Rate Loans Advance and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, Advance to (but not including) the date of repayment thereof at the Alternate Base Floating Rate, changing when and as such Alternate Base Floating Rate changes. Changes in the rate of interest on that portion of the Loans any Advance maintained as a Floating Rate Loans Loan will take effect simultaneously with each change in the Alternate Base Prime Rate. Each Advance of Eurodollar Rate Loans Advance shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Advance, changing when and as the Applicable Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans will take effect simultaneously with each change in the Applicable MarginAdvance.
Appears in 1 contract
Method of Selecting Types and Interest Periods for Advances. The ------------------------------------------------------------------ Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable to each Advance from time to time. The Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B hereto (a “Borrowing"BORROWING/Election Notice”ELECTION NOTICE") not --------- later than 11:00 a.m. (Chicago time) (a) on or before the Borrowing Date of each Advance of Floating Rate Loans Advance and (b) three (3) Business Days before the Borrowing Date for each Advance of Eurodollar Rate Loans Advance specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable thereto; provided, -------- however, that with respect to the borrowing on the Initial Funding Date, such -- notice shall be delivered in accordance with the terms of Section 2.01(b2.1(a) and -------------- shall be accompanied by the documentation specified in such Section, if applicable. The Borrower shall select Interest Periods so that, to the best of the Borrower’s 's knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Rate Loans Advance prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans Advance and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate LoansAdvances, and the date such Obligation is due and owing in the case of such other Obligations, to (but not including) the date of repayment thereof at the Alternate Base Rate, changing when and as such Alternate Base Rate changes. Changes in the rate of interest on that portion of the Loans maintained as Floating Rate Loans will take effect simultaneously with each change in the Alternate Base Rate. Each Advance of Eurodollar Rate Loans Advance shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Eurodollar Rate Advance, changing when and as the Applicable Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans Advances will take effect simultaneously with each change in the Applicable Margin.
Appears in 1 contract
Method of Selecting Types and Interest Periods for Advances. The Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable to each Advance from time to time. The Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B hereto (a “Borrowing/Election Notice”) not later than 11:00 a.m. (Chicago time) (a) on or before the Borrowing Date of each Advance of Floating Rate Loans Advance and (b) three (3) Business Days before the Borrowing Date for each Advance of Eurodollar Rate Loans Advance specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable thereto; provided, however, that with respect to the borrowing on the Initial Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b2.1(b) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower shall select Interest Periods so that, to the best of the Borrower’s knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Rate Loans Advance prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans Advance and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate LoansAdvances, and the date such Obligation is due and owing in the case of such other Obligations, to (but not including) the date of repayment thereof at the Alternate Base RateRate plus the Applicable Margin, changing when and as such Alternate Base Rate and the Applicable Margin, as applicable, changes. Changes in the rate of interest on that portion of the Loans maintained as Floating Rate Loans will take effect simultaneously with each change in the Alternate Base RateRate and the Applicable Margin. Each Advance of Eurodollar Rate Loans Advance shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Eurodollar Rate Advance, changing when and as the Applicable Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans Advances will take effect simultaneously with each change in the Applicable Margin.
Appears in 1 contract
Samples: Revolving Credit Agreement (Energizer Holdings Inc)
Method of Selecting Types and Interest Periods for Advances. The applicable Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable to each Advance from time to time. The applicable Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B hereto (a “Borrowing/Election Notice”) not later than 11:00 a.m. Eastern time (Chicago timedaylight or standard, as applicable) (a) on or before the Borrowing Date of each Advance of Floating Rate Loans and Advance, (b) three (3) Business Days before the Borrowing Date for each Advance of Eurodollar Rate Loans specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Rate Loans, the Interest Period applicable thereto; provided, however, that with respect to the borrowing on the Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower Borrowers shall select Interest Periods so that, to the best of the Borrower’s their knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Rate Loans Loan prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans Advance and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, to (but not including) the date of repayment thereof at the Alternate Base Rate, Floating Rate changing when and as such Alternate Base Floating Rate changes. Changes in the rate of interest on that portion of the Loans any Advance maintained as a Floating Rate Loans Loan will take effect simultaneously with each change in the Alternate Base Rate. Each Advance of Eurodollar Rate Loans Advance shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Advance, changing Eurodollar Rate Advance and shall change as and when and as the Applicable Eurodollar Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans will take effect simultaneously with each change in the Applicable Margin.
Appears in 1 contract
Samples: Revolving Credit Agreement (Chicago Bridge & Iron Co N V)
Method of Selecting Types and Interest Periods for Advances. The Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable to each Advance from time to time. The Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B C hereto (a “Borrowing/Election Notice”"BORROWING NOTICE") not later than 11:00 10:00 a.m. (Chicago time) (a) on or before the Borrowing Date of each Advance of Floating Rate Loans Advance and (b) three (3) Business Days before the Borrowing Date for each Advance of Eurodollar Rate Loans Advance, specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable thereto; provided, however, that with respect to the borrowing on the Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower shall select Interest Periods so that, to the best of the Borrower’s 's knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Rate Loans Advance prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans Advance and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, Advance to (but not including) the date of repayment thereof at the Alternate Base Floating Rate, changing when and as such Alternate Base Floating Rate changes. Changes in the rate of interest on that portion of the Loans any Advance maintained as a Floating Rate Loans Loan will take effect simultaneously with each change in the Alternate Base Rate. Each Advance of Eurodollar Rate Loans Advance shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Advance, changing when and as the Applicable Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans will take effect simultaneously with each change in the Applicable MarginAdvance.
Appears in 1 contract
Samples: Credit Agreement (Printpack Inc)
Method of Selecting Types and Interest Periods for Advances. The applicable Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Eurocurrency Rate LoansAdvance, the Interest Period Period, Agreed Currency and Alternate Currency applicable to each Advance from time to time. The applicable Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B hereto (a “Borrowing"BORROWING/Election Notice”CONVERSION/CONTINUATION NOTICE") not later than 11:00 9:00 a.m. (Chicago time) (a) on or before the Borrowing Date of each Advance of Floating Rate Loans Advance, and (b) three (3) Business Days before the Borrowing Date for each Eurocurrency Rate Advance of Eurodollar to be made in Dollars, and (c) four (4) Business Days before the Borrowing Date for each Eurocurrency Rate Loans Advance to be made in any Agreed Currency other than Dollars and (d) four (4) Business Days before the Borrowing Date for each Alternate Currency Loan (or such other period as may be agreed to by the Administrative Agent), and the applicable Borrower shall give the applicable Alternate Currency Bank irrevocable notice by 10:00 a.m. (local time) two (2) Business Days prior to the Borrowing Date for such Alternate Currency Loan (or such other period as may be specified in the applicable Alternate Currency Addendum), specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Eurocurrency Rate LoansLoan, the Interest Period and Agreed Currency or Alternate Currency applicable thereto; provided. Notwithstanding the foregoing, howeverif the Company has submitted a Competitive Bid Quote Request pursuant to Section 2.1(B), that a Borrowing/Conversion/Continuation Notice for a Floating Rate Advance may be given not later than fifteen (15) minutes after the time which the Company is required to reject one or more bids offered in connection with respect an Absolute Rate Auction pursuant to the borrowing on the Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b2.1(F) and shall a Borrowing/Conversion/Continuation Notice for a Eurocurrency Rate Loan may be accompanied by given not later than fifteen (15) minutes after the documentation specified time the Company is required to reject one or more bids offered in such Section, if applicableconnection with a Eurocurrency Auction pursuant to Section 2.1(F). The Borrower Company shall select Interest Periods so that, to the best of the Borrower’s Company's knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Eurocurrency Rate Loans Loan prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans Advance, each Alternate Currency Loan bearing a fluctuating Alternate Currency Rate and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, to (but not including) the date of repayment thereof at the Floating Rate or Alternate Base Currency Rate, as applicable, changing when and as such Floating Rate or Alternate Base Rate Currency Rate, as applicable, changes. Changes in the rate of interest on that portion of the Loans any Advance maintained as a Floating Rate Loans Loan will take effect simultaneously with each change in the Alternate Base Rate. Changes in the rate of interest on any portion of any Alternate Currency Loan bearing a fluctuating Alternate Currency Rate will take effect simultaneously with each change in such Alternate Currency Rate. Each Eurocurrency Rate Advance of Eurodollar Rate Loans shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Advance, changing Eurocurrency Rate Advance and shall change as and when and as the Applicable Eurocurrency Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans will take effect simultaneously with each change in the Applicable Margin.
Appears in 1 contract
Samples: 5 Year Revolving Credit Agreement (American National Can Group Inc)
Method of Selecting Types and Interest Periods for Advances. The Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable to each Advance from time to time. The Borrower shall give the Administrative Agent Agents irrevocable notice in substantially the form of Exhibit B EXHIBIT C hereto (a “Borrowing/Election Notice”"BORROWING NOTICE") not later than 11:00 11:30 a.m. (Chicago Farmington Hills, Michigan time) (a) on or before the Borrowing Date of each Advance of Floating Rate Loans Advance and (b) three (3) Business Days before the Borrowing Date for each Advance of Eurodollar Rate Loans Advance, specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable thereto; provided, however, that with respect to the borrowing on the Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower shall select Interest Periods so that, to the best of the Borrower’s 's knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Rate Loans Advance prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans Advance and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, Advance to (but not including) the date of repayment thereof at the Alternate Base Floating Rate, changing when and as such Alternate Base Floating Rate changes. Changes in the rate of interest on that portion of the Loans any Advance maintained as a Floating Rate Loans Loan will take effect simultaneously with each change in the Alternate Base Rate. Each Advance of Eurodollar Rate Loans Advance shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Advance, changing when and as the Applicable Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans will take effect simultaneously with each change in the Applicable MarginAdvance.
Appears in 1 contract
Method of Selecting Types and Interest Periods for Advances. The ------------------------------------------------------------- applicable Borrower shall select the Type and Class of Advance and, in the case of each Eurodollar Advance of or Korean Eurodollar Rate LoansAdvance, the Interest Period applicable to each Advance from time to time. The applicable Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B hereto (a “Borrowing/Election Notice”"BORROWING NOTICE") not later than 11:00 a.m. a.m., New York time (Chicago timeor Seoul time for Korean Won Advances or Korean Eurodollar Advance) (ai) on or before the Borrowing Date of each Advance of Floating Base Rate Loans and Advance; (bii) three (3) Business Days before the Borrowing Date for each Advance of Eurodollar Rate Loans Advance; (iii) three (3) Business Days before the Borrowing Date for each Korean Eurodollar Advance; and (iv) five (5) Business Days before the Borrowing Date for each Korean Won Advance, specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected, as applicable; and (iv) in the case of each Eurodollar Advance of or Korean Eurodollar Rate LoansAdvance, the Interest Period applicable thereto; provided, however, that Period. There shall be (x) no more than twenty (20) Interest Periods in effect with respect to all of the borrowing on the Funding DateRevolving Loans at any time, such notice shall be delivered in accordance and (y) with the terms of Section 2.01(brespect to any Borrower individually, no more than four (4) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower shall select Interest Periods so that, in effect with respect to the best all of the Borrower’s knowledgeRevolving Loans made to such Borrower at any time, it will not be necessary in each case, with Interest Periods for the same term but in different currencies or to prepay all or any portion of any Advance of Eurodollar Rate Loans prior to the last day of the applicable different Borrowers being treated as separate Interest Period in order to make mandatory prepayments as required pursuant to the terms hereofPeriods. Each Base Rate Advance of Floating Rate Loans and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, Advance to (but not including) the date of repayment thereof at the Alternate Base Rate, changing when and as such Alternate Base Rate changes. Changes in the rate of interest on that portion of the Loans maintained as Floating Rate Loans will take effect simultaneously with each change in the Alternate Base Rate. Each Eurodollar Advance, Korean Eurodollar Advance of Eurodollar Rate Loans and Korean Won Advance shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Advance. All Obligations (other than Advances) shall bear interest from and including the date such amount is payable under the terms of this Agreement or the other Loan Documents to (but not including) the date of repayment thereof at the Base Rate, changing when and as the Applicable Margin such Base Rate changes. Changes in the rate of interest on that portion of the Loans any Advance maintained as Eurodollar a Base Rate Loans Loan or such other Obligations will take effect simultaneously with each change in the Applicable Marginapplicable Base Rate.
Appears in 1 contract
Samples: Long Term Credit Agreement (Agribrands International Inc)
Method of Selecting Types and Interest Periods for Advances. The Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable to each Advance from time to time. The Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B hereto (a “Borrowing/Election Notice”) not later than 11:00 a.m. (Chicago time) (a) on or before the Borrowing Date of each Advance of Floating Rate Loans Advance and (b) three (3) Business Days before the Borrowing Date for each Advance of Eurodollar Rate Loans Advance specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable thereto; provided, however, that with respect to the borrowing on the Initial Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b2.1(a) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower shall select Interest Periods so that, to the best of the Borrower’s knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Rate Loans Advance prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans Advance and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate LoansAdvances, and the date such Obligation is due and owing in the case of such other Obligations, to (but not including) the date of repayment thereof at the Alternate Base Rate, changing when and as such Alternate Base Rate changes. Changes in the rate of interest on that portion of the Loans maintained as Floating Rate Loans will take effect simultaneously with each change in the Alternate Base Rate. Each Advance of Eurodollar Rate Loans Advance shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Eurodollar Rate Advance, changing when and as the Applicable Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans Advances will take effect simultaneously with each change in the Applicable Margin.
Appears in 1 contract
Samples: Revolving Credit Agreement (Energizer Holdings Inc)
Method of Selecting Types and Interest Periods for Advances. The applicable Borrower shall select the Type and Class of Advance Advance, the Agreed Currency and, in the case of each Advance of Eurodollar Eurocurrency Rate LoansAdvance, subject to Section 2.01(c), the Interest Period applicable to each such Advance from time to time. The applicable Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B A hereto (a “Borrowing/Election Conversion/Continuation Notice”) not later than 11:00 a.m. (Chicago New York time) (a) on or one Business Day before the Borrowing Date of each Advance of Floating Rate Loans and ABR Advance, (b) three (3) Business Days before the Borrowing Date for each Eurocurrency Rate Advance of Eurodollar Rate Loans specifying: to be made in Dollars and (ic) four Business Days before the Borrowing Date (which shall for each Eurocurrency Rate Advance to be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) made in the case of each Advance of Eurodollar Rate Loans, the Interest Period applicable thereto; provided, however, that with respect to the borrowing on the Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower shall select Interest Periods so that, to the best of the Borrower’s knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Rate Loans prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereofAgreed Currency other than Dollars. Each ABR Advance of Floating Rate Loans and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, Advance in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, to (but not including) the date of repayment thereof at the Alternate Base RateRate plus the Applicable ABR Margin in effect from time to time, changing when and as such Alternate Base Rate changeschanges (it being agreed that, in the case of Obligations other than Loans, the Applicable ABR Margin at which such interest shall be deemed to accrue for the account of the Lenders of any Class shall correspond to the Applicable ABR Margin then in effect for ABR Loans of such Class). Changes in the rate of interest on that portion of the Loans any Advance maintained as Floating Rate Loans an ABR Loan will take effect simultaneously with each change in the Alternate Base Rate. Each Eurocurrency Rate Advance of Eurodollar Rate Loans shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as Eurocurrency Rate applicable to such Advance, changing when Eurocurrency Rate Advance and as Interest Period plus the Applicable Eurocurrency Rate Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans will take effect simultaneously with each change in the Applicable Marginfrom time to time.
Appears in 1 contract
Method of Selecting Types and Interest Periods for Advances. The Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable to each Advance of its Advances from time to time. The Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B hereto (a “Borrowing/Election Notice”"BORROWING NOTICE") not later than 11:00 a.m. (Chicago time) (a) on or before the Borrowing Date of each Advance of Floating Rate Loans Advance and (b) three (3) Business Days before the Borrowing Date for each Advance of Eurodollar Rate Loans Advance, specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable thereto; provided, however, that with respect to the borrowing on the Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower shall select Interest Periods so that, to the best of the Borrower’s 's knowledge, it will not be necessary to prepay all or any portion of any Eurodollar Advance of Eurodollar Rate Loans prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans Advance and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, Advance to (but not including) the date of repayment thereof at the Alternate Base Floating Rate, changing when and as such Alternate Base Floating Rate changes. Changes in the rate of interest on that portion of the Loans any Advance maintained as a Floating Rate Loans Loan will take effect simultaneously with each change in the Alternate Base Rate. Each Eurodollar Advance of Eurodollar Rate Loans shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Eurodollar Advance, changing when and as the Applicable Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans will take effect simultaneously with each change in the Applicable Margin.
Appears in 1 contract
Method of Selecting Types and Interest Periods for Advances. The Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable to each Advance from time to time. The Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B C hereto (a “Borrowing/Election Borrowing Notice”) not later than 11:00 11:30 a.m. (Chicago time) (a) on or before the Borrowing Date of each Advance of Floating Rate Loans Advance and (b) three (3) Business Days before the Borrowing Date for each Advance of Eurodollar Rate Loans Advance, specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable thereto; provided, however, that with respect to the borrowing on the Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower shall select Interest Periods so that, to the best of the Borrower’s knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Rate Loans Advance prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans Advance and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, Advance to (but not including) the date of repayment thereof at the Alternate Base Floating Rate, changing when and as such Alternate Base Floating Rate changes. Changes in the rate of interest on that portion of the Loans any Advance maintained as a Floating Rate Loans Loan will take effect simultaneously with each change in the Alternate Base Rate. Each Advance of Eurodollar Rate Loans Advance shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Advance, changing when and as the Applicable Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans will take effect simultaneously with each change in the Applicable MarginAdvance.
Appears in 1 contract
Method of Selecting Types and Interest Periods for Advances. The (A) For all Revolving Loans, the Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable to each Advance from time to time. The Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B C hereto (a “Borrowing/Election "Borrowing Notice”") not later than 11:00 10:00 a.m. (Chicago time) (a) on or before the Borrowing Date of each Advance of Floating Rate Loans Advance and (b) three (3) Business Days before the Borrowing Date for each Advance of Eurodollar Rate Loans Advance, specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable thereto; provided.
(B) For all Loans, however, that with respect to the borrowing on the Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower shall select Interest Periods so that, to the best of the Borrower’s 's knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Rate Loans Advance prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans Advance and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, Advance to (but not including) the date of repayment thereof at the Alternate Base Floating Rate, changing when and as such Alternate Base Floating Rate changes. Changes in the rate of interest on that portion of the Loans any Advance maintained as a Floating Rate Loans Loan will take effect simultaneously with each change in the Alternate Base Floating Rate. Each Advance of Eurodollar Rate Loans Advance shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Advance, changing when and as the Applicable Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans will take effect simultaneously with each change in the Applicable MarginAdvance.
Appears in 1 contract
Samples: Credit Agreement (CTS Corp)
Method of Selecting Types and Interest Periods for Advances. The applicable Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Eurocurrency Rate LoansAdvance, the Interest Period and Agreed Currency applicable to each Advance from time to time. The applicable Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B hereto (a “Borrowing"BORROWING/Election Notice”CONVERSION/CONTINUATION NOTICE") not later than 11:00 a.m. 9:00 -41- 52
a. m. (Chicago time) (a) on or before the Borrowing Date of each Advance of Floating Rate Loans Advance, and (b) three (3) Business Days before the Borrowing Date for each Eurocurrency Rate Advance of Eurodollar to be made in Dollars, and (c) four (4) Business Days before the Borrowing Date for each Eurocurrency Rate Loans Advance to be made in any Agreed Currency other than Dollars, specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Eurocurrency Rate LoansLoan, the Interest Period and Agreed Currency applicable thereto; provided. Notwithstanding the foregoing, howeverif the Company has submitted a Competitive Bid Quote Request pursuant to Section 2.1(B), that a Borrowing/Conversion /Continuation Notice for a Floating Rate Advance may be given not later than fifteen (15) minutes after the time which the Company is required to reject one or more bids offered in connection with respect an Absolute Rate Auction pursuant to the borrowing on the Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b2.1(F) and shall a Borrowing/Conversion/Continuation Notice for a Eurocurrency Rate Loan may be accompanied by given not later than fifteen (15) minutes after the documentation specified time the Company is required to reject one or more bids offered in such Section, if applicableconnection with a Eurocurrency Auction pursuant to Section 2.1(F). The Borrower Company shall select Interest Periods so that, to the best of the Borrower’s Company's knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Eurocurrency Rate Loans Loan prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans Advance and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, to (but not including) the date of repayment thereof at the Alternate Base Rate, Floating Rate changing when and as such Alternate Base Floating Rate changes. Changes in the rate of interest on that portion of the Loans any Advance maintained as a Floating Rate Loans Loan will take effect simultaneously with each change in the Alternate Base Rate. Each Eurocurrency Rate Advance of Eurodollar Rate Loans shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Advance, changing Eurocurrency Rate Advance and shall change as and when and as the Applicable Eurocurrency Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans will take effect simultaneously with each change in the Applicable Margin.
Appears in 1 contract
Samples: 364 Day Credit Agreement (American National Can Group Inc)
Method of Selecting Types and Interest Periods for Advances. The Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable to each Advance from time to time. The Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B EXHIBIT C hereto (a “Borrowing/Election Notice”"BORROWING NOTICE") not later than 11:00 a.m. (Chicago Indianapolis time) (a) on or before the Borrowing Date of each Advance of Floating Rate Loans Advance and (b) three (3) Business Days before the Borrowing Date for each Advance of Eurodollar Rate Loans Advance, specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable thereto; provided, however, that with respect to the borrowing on the Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower shall select Interest Periods so that, to the best of the Borrower’s 's knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Rate Loans Advance prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans Advance and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, Advance to (but not including) the date of repayment thereof at the Alternate Base Floating Rate, changing when and as such Alternate Base Floating Rate changes. Changes in the rate of interest on that portion of the Loans any Advance maintained as a Floating Rate Loans Loan will take effect simultaneously with each change in the Alternate Base Rate. Each Advance of Eurodollar Rate Loans Advance shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Advance, changing when and as the Applicable Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans will take effect simultaneously with each change in the Applicable MarginAdvance.
Appears in 1 contract
Samples: Credit Agreement (CTS Corp)
Method of Selecting Types and Interest Periods for Advances. A single Advance shall be made hereunder by each Lender in the full amount of the initial Aggregate Commitment of such Lender, or in the case of an increase in the Aggregate Commitment of an existing Lender made pursuant to Section 2.2, in the full amount of such increase. The Borrower shall select the Type and Class of Loans that comprise each such Advance and, in the case of each Advance of Eurodollar Fixed Rate LoansLoan, the Interest Period applicable to each Advance Loan from time to time. The Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B hereto (a “Borrowing/Election Borrowing Notice”) in the form attached as Exhibit I (i) not later than 11:00 a.m. (Chicago time) (a) 3:00 p.m. Cleveland time on or before the Business Day immediately preceding the Borrowing Date of each Advance of that contains only Floating Rate Loans Loans, and (bii) not later than 10:00 a.m. Cleveland time, at least three (3) Business Days before the Borrowing Date for each Advance of Eurodollar Rate Loans specifying: that includes a LIBOR Loan:
(i) the Borrowing Date (Date, which shall be a Business Day) , of such Advance; ,
(ii) the aggregate amount of such Advance; ,
(iii) the Type and Class of Advance selected; and Loans selected and,
(iv) in the case of each Advance of Eurodollar Fixed Rate LoansLoan, the Interest Period applicable thereto; provided, however, that with respect . The Administrative Agent shall provide a copy to the borrowing Lenders by facsimile of each Borrowing Notice and each Conversion/Continuation Notice not later than the close of business on the Funding DateBusiness Day it is received. Each Lender shall make available its Loan or Loans, such notice shall be delivered in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified funds immediately available in such Section, if applicable. The Borrower shall select Interest Periods so that, Cleveland to the best of the Borrower’s knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Rate Loans prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required Administrative Agent at its address specified pursuant to the terms hereof. Each Advance of Floating Rate Loans and all Obligations other Article XIII on each Borrowing Date not later than Loans shall bear interest from and including the date of the making of such Advance(i) 10:00 a.m. (Cleveland time), in the case of Advances of Floating Rate LoansLoans which have been requested by a Borrowing Notice given to the Administrative Agent not later than 3:00 p.m. (Cleveland time) on the Business Day immediately preceding such Borrowing Date, and the date such Obligation is due and owing or (ii) noon (Cleveland time) in the case of such all other Obligations, Loans. The Administrative Agent will make the funds so received from the Lenders available to (but not including) the date of repayment thereof Borrower at the Alternate Base RateAdministrative Agent’s aforesaid address. No Interest Period may end after the Maturity Date and, changing when and as such Alternate Base Rate changes. Changes unless the Lenders otherwise agree in the rate of interest on that portion of the Loans maintained as Floating writing, in no event may there be more than seven (7) different Interest Periods for Fixed Rate Loans will take effect simultaneously with each change in the Alternate Base Rate. Each Advance of Eurodollar Rate Loans shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period outstanding at the interest rate determined as applicable to such Advance, changing when and as the Applicable Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans will take effect simultaneously with each change in the Applicable Marginany one time.
Appears in 1 contract
Method of Selecting Types and Interest Periods for Advances. The Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable to each Advance from time to time. The Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B hereto (a “"Borrowing/Election Notice”") not later than 11:00 a.m. (Chicago time) (a) on or before the Borrowing Date of each Advance of Floating Rate Loans Advance and (b) three (3) Business Days before the Borrowing Date for each Advance of Eurodollar Rate Loans Advance specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable thereto; provided, however, that with respect to the borrowing on the Initial Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b2.1(a) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower shall select Interest Periods so that, to the best of the Borrower’s knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Rate Loans Advance prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans Advance and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate LoansAdvances, and the date such Obligation is due and owing in the case of such other Obligations, to (but not including) the date of repayment thereof at the Alternate Base Rate, changing when and as such Alternate Base Rate changes. Changes in the rate of interest on that portion of the Loans maintained as Floating Rate Loans will take effect simultaneously with each change in the Alternate Base Rate. Each Advance of Eurodollar Rate Loans Advance shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Eurodollar Rate Advance, changing when and as the Applicable Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans Advances will take effect simultaneously with each change in the Applicable Margin.
Appears in 1 contract
Samples: Revolving Credit Agreement (Energizer Holdings Inc)
Method of Selecting Types and Interest Periods for Advances. (a) The Borrower shall select the Type and Class of Advance and, in by giving the case of each Advance of Eurodollar Rate Loans, the Interest Period applicable to each Advance from time to time. The Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B hereto (a “Borrowing/Election "Borrowing Notice”") not later than 11:00 a.m. 10:00 a.m., Phoenix time, at least one (Chicago time1) (a) on or Business Day before the Borrowing Date of for each Floating Interest Rate Advance of Floating Rate Loans and (b) at least three (3) Business Days before the Borrowing Date for each Advance of Eurodollar Rate Loans Advance, specifying: :
(i) the Borrowing Date (Date, which shall be a Business Day) , of such Advance; 43
(ii) the aggregate amount of such Advance; and
(iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Rate Loans, the Interest Period applicable thereto; provided, however, that with respect to the borrowing on the Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower shall select Interest Periods so that, be entitled to obtain only one (1) Advance per Guidance Loan per month and only four (4) Construction Line Advances per month (Eurodollar Advances may only be made on the best of the Borrower’s knowledge, it will not be necessary to prepay all or Eurodollar Advance Date) and only one Advance in any portion of any Advance of Eurodollar Rate Loans prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, to (but not including) the date of repayment thereof at the Alternate Base Rate, changing when and as such Alternate Base Rate changessingle Business Day. Changes in the rate of interest on that portion of the Loans any Advance maintained as a Floating Interest Rate Loans Advance will take effect simultaneously with each change in the Alternate Base Floating Interest Rate. Each Eurodollar Advance of Eurodollar Rate Loans shall bear interest from and including the first day of the Eurodollar Interest Period applicable thereto to (to, but not including) , the last day of such Interest Period at the interest rate determined as applicable to such Advance, changing when and as the Applicable Margin changesEurodollar Advance Date three months thereafter. Changes in the rate of interest on that portion of the Loans any Advance maintained as a Eurodollar Rate Loans Advance will take effect simultaneously with each change on the first Business Day after the expiration of the Eurodollar Interest Period.
(b) Each Borrowing Notice shall be irrevocable and binding on the Borrower and, in respect of the borrowing specified in the Applicable MarginBorrowing Notice, the Borrower shall indemnify each Lender against any loss or expense incurred by that Lender as a result of any failure to fulfill the applicable conditions set forth in Sections 8.1 and 8.2 on or before the proposed Borrowing Date specified in the Borrowing Notice, including, without limitation, any loss (including loss of profit) or expense incurred by reason of the liquidation or reemployment of deposits or other funds acquired by any Lender to fund the Loan to be made by that Lender as part of that borrowing when that Loan, as a result of that failure, is not made on that date.
(c) In the event of any prepayment of a Eurodollar Loan or with any conversion of a Eurodollar Loan to a Floating Interest Rate Loan, in either case other than on the last Business Day of the Interest Period for such Eurodollar Loan (including any such prepayment made voluntarily or involuntarily as a result of the acceleration of maturity upon a default or otherwise), Borrower shall also pay (a) all accrued and unpaid interest on the principal being prepaid, (b) all Other Amounts then due, and (c) a premium, if any, equal to the product of (i) the Average Lost Monthly Interest Income and (ii) the number of months from the date of prepayment or conversion to the last Business Day of the Interest Period for such Eurodollar Loan (with any fraction of a month counted as a month), discounted to present value at the Discount Rate over a period equal to one-half of the number of months in clause (ii) above. The maturity date and yield to maturity of Treasury Obligations shall be determined by Agent, on the basis of quotations published in The Wall Street Journal or other comparable sources. Failure of Agent to exercise any option hereunder shall not constitute a waiver of Agent's right to exercise the same in the event of any subsequent prepayment of a Eurodollar Loan or with any subsequent conversion of a Eurodollar Loan to a Floating Interest Rate Loan, in either case other than on the last Business Day of the Interest Period for such Eurodollar Loan (including any such prepayment made voluntarily or involuntarily as a result of the acceleration of maturity upon a default or otherwise). 44
Appears in 1 contract
Method of Selecting Types and Interest Periods for Advances. The ------------------------------------------------------------ applicable Borrower shall select the Type and Class of Advance and, in the case of each Eurodollar Advance of or Korean Eurodollar Rate LoansAdvance, the Interest Period applicable to each Advance from time to time. The applicable Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B hereto (a “Borrowing/Election "Borrowing Notice”") not later than 11:00 a.m. a.m., New York time (Chicago timeor Seoul time for Korean Won Advances or Korean Eurodollar Advance) (ai) on or before the Borrowing Date of each Advance of Floating Base Rate Loans and Advance; (bii) two (2) Business Days before the Borrowing Date for each Eurodollar Advance; (iii) three (3) Business Days before the Borrowing Date for each Advance of Korean Eurodollar Rate Loans Advance; and (iv) five (5) Business Days before the Borrowing Date for each Korean Won Advance, specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected, as applicable; and (iv) in the case of each Eurodollar Advance of or Korean Eurodollar Rate LoansAdvance, the Interest Period applicable thereto; provided, however, that Period. There shall be (x) no more than twenty (20) Interest Periods in effect with respect to all of the borrowing on the Funding DateRevolving Loans at any time, such notice shall be delivered in accordance and (y) with the terms of Section 2.01(brespect to any Borrower individually, no more than four (4) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower shall select Interest Periods so that, in effect with respect to the best all of the Borrower’s knowledgeRevolving Loans made to such Borrower at any time, it will not be necessary in each case, with Interest Periods for the same term but in different currencies or to prepay all or any portion of any Advance of Eurodollar Rate Loans prior to the last day of the applicable different Borrowers being treated as separate Interest Period in order to make mandatory prepayments as required pursuant to the terms hereofPeriods. Each Base Rate Advance of Floating Rate Loans and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, Advance to (but not including) the date of repayment thereof at the Alternate Base Rate, changing when and as such Alternate Base Rate changes. Changes in the rate of interest on that portion of the Loans maintained as Floating Rate Loans will take effect simultaneously with each change in the Alternate Base Rate. Each Eurodollar Advance, Korean Eurodollar Advance of Eurodollar Rate Loans and Korean Won Advance shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Advance. All Obligations (other than Advances) shall bear interest from and including the date such amount is payable under the terms of this Agreement or the other Loan Documents to (but not including) the date of repayment thereof at the Base Rate, changing when and as the Applicable Margin such Base Rate changes. Changes in the rate of interest on that portion of the Loans any Advance maintained as Eurodollar a Base Rate Loans Loan or such other Obligations will take effect simultaneously with each change in the Applicable Marginapplicable Base Rate.
Appears in 1 contract
Samples: Long Term Credit Agreement (Agribrands International Inc)
Method of Selecting Types and Interest Periods for Advances. The Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable to each Advance from time to time. The Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B C hereto (a “Borrowing/Election "Borrowing Notice”") not later than 11:00 11:30 a.m. (Chicago time) (a) on or before the Borrowing Date of each Advance of Floating Rate Loans Advance and (b) three (3) Business Days before the Borrowing Date for each Advance of Eurodollar Rate Loans Advance, specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable thereto; provided, however, that with respect to the borrowing on the Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower shall select Interest Periods so that, to the best of the Borrower’s 's knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Rate Loans Advance prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans Advance and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, Advance to (but not including) the date of repayment thereof at the Alternate Base Floating Rate, changing when and as such Alternate Base Floating Rate changes. Changes in the rate of interest on that portion of the Loans any Advance maintained as a Floating Rate Loans Loan will take effect simultaneously with each change in the Alternate Base Rate. Each Advance of Eurodollar Rate Loans Advance shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Advance, changing when and as the Applicable Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans will take effect simultaneously with each change in the Applicable MarginAdvance.
Appears in 1 contract
Method of Selecting Types and Interest Periods for Advances. The Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable to each Advance from time to time. The Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B hereto (a “Borrowing/Election "Borrowing Notice”") not later than 11:00 a.m. (Chicago time) (a) on or before the Borrowing Date of each Advance of Floating Rate Loans Advance and (b) three (3) Business Days before the Borrowing Date for each Advance of Eurodollar Rate Loans Advance, specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable thereto; provided, however, that with respect to the borrowing on the Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower shall select Interest Periods so that, to the best of the Borrower’s 's knowledge, it will not be necessary to prepay all or any portion of any Eurodollar Advance of Eurodollar Rate Loans prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans and all Obligations other than Loans Advance shall bear interest from and including the later of (i) the date of the making of such Advance, in Advance or (ii) the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, Effective Date to (but not including) the date of repayment thereof at the Alternate Base Floating Rate, changing when and as such Alternate Base Floating Rate changes. All Obligations (other than Advances) shall bear interest from and including the date such Obligation is payable under the terms of this Agreement or any other Loan Document to (but not including) the date of payment thereof at the Floating Rate, changing when and as such Floating Rate changes. Changes in the rate of interest on that portion of the Loans any Advance maintained as a Floating Rate Loans Loan or other Obligations which bear interest by reference to the Floating Rate will take effect simultaneously with each change in the Alternate Base Rate. Each Eurodollar Advance of Eurodollar Rate Loans shall bear interest from and including the later of (i) the first day of the Interest Period applicable thereto or (ii) the Effective Date to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Eurodollar Advance, changing when and as only with respect to the Applicable Eurodollar Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans will to take effect simultaneously with each change in the Applicable Eurodollar Margin. Interest with respect to Advances made prior to the Effective Date shall be calculated and paid in accordance with the terms of the Second Restated Credit Agreement for periods prior to the Effective Date.
Appears in 1 contract
Samples: Credit Agreement (SCP Pool Corp)
Method of Selecting Types and Interest Periods for Advances. The Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable to each Advance from time to time. The Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B hereto (a “Borrowing/Election Notice”) not later than 11:00 a.m. Eastern time (Chicago timedaylight or standard, as applicable) (a) on or before the Borrowing Date of each Advance of Floating Rate Loans and Advance, (b) three (3) Business Days before the Borrowing Date for each Advance of Eurodollar Rate Loans specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Rate Loans, the Interest Period applicable thereto; provided, however, that with respect to the borrowing on the Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower shall select Interest Periods so that, to the best of the Borrower’s their knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Rate Loans Loan prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans Advance and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, to (but not including) the date of repayment thereof at the Alternate Base Rate, Floating Rate changing when and as such Alternate Base Floating Rate changes. Changes in the rate of interest on that portion of the Loans any Advance maintained as a Floating Rate Loans Loan will take effect simultaneously with each change in the Alternate Base Rate. Each Advance of Eurodollar Rate Loans Advance shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Advance, changing Eurodollar Rate Advance and shall change as and when and as the Applicable Eurodollar Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans will take effect simultaneously with each change in the Applicable Margin.
Appears in 1 contract
Method of Selecting Types and Interest Periods for Advances. The Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable to each Advance from time to time. The Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B EXHIBIT E hereto (a “Borrowing/Election Notice”"BORROWING NOTICE") not later than 11:00 a.m. (Chicago Dallas time) (a) on or before the Borrowing Date of each Advance of Floating Rate Loans Advance and (b) three (3) Business Days before the Borrowing Date for each Advance of Eurodollar Rate Loans Advance, specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable thereto; provided, however, that with respect to the borrowing on the Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower shall select Interest Periods so that, to the best of the Borrower’s knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Rate Loans prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans Advance and all Obligations other than Eurodollar Rate Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, Advance to (but not including) the date of repayment thereof at the Alternate Base lesser of (A) the Maximum Rate and (B) the Floating Rate, changing when and each change in the rate to be charged on a Floating Rate Advance to become effective without notice to the Borrower on the effective date of each change in the Maximum Rate or the Floating Rate, as the case may be; PROVIDED, HOWEVER, that if at any time the Floating Rate shall exceed the Maximum Rate, thereby causing the interest on a Floating Rate Advance to be limited to the Maximum Rate, then any subsequent reduction in the Floating Rate shall not reduce the rate of interest on a Floating Rate Advance below the Maximum Rate until the total amount of interest accrued on each Floating Rate Advance equals the amount of interest which would have accrued on such Alternate Base Floating Rate changesAdvances if the Floating Rate had at all times been in effect. Changes in the rate of interest on that portion of the Loans any Advance maintained as a Floating Rate Loans Loan will take effect simultaneously with each change in the Alternate Base Rate, the Maximum Rate or the applicable Floating Rate Margin. Each Advance of Eurodollar Rate Loans Advance shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate lesser of (A) the Maximum Rate and (B) the Eurodollar Rate determined as applicable to such Eurodollar Rate Advance, changing when and as the Applicable applicable Eurodollar Margin or Maximum Rate changes. Changes , as the case may be; PROVIDED, HOWEVER, that if at any time the Eurodollar Rate applicable to a Eurodollar Rate Advance shall exceed the Maximum Rate, thereby causing the interest on a Eurodollar Rate Advance to be limited to the Maximum Rate, then any subsequent reduction in the Eurodollar Rate shall not reduce the rate of interest on that portion of the Loans maintained as a Eurodollar Rate Loans will take effect simultaneously with Advance below the Maximum Rate until the total amount of interest accrued on each change Eurodollar Rate Advance equals the amount of interest which would have accrued on such Eurodollar Rate Advances if the Eurodollar Rate had at all times been in the Applicable Margineffect.
Appears in 1 contract
Method of Selecting Types and Interest Periods for Advances. The Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable to each Advance from time to time. The Borrower shall give the Administrative Agent Lender irrevocable notice in substantially the form of Exhibit B A hereto (a “Borrowing/Borrowing Election Notice”) not later than 11:00 a.m. 12:00 noon (Chicago time) (a) on or before the Borrowing Date of each Advance of Floating Rate Loans Advance, and (b) three (3) Business Days before the Borrowing Date for each Eurodollar LaSalle Bank National Association April 20, 2005 Page 30 Rate Advance of Eurodollar Rate Loans specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable thereto; provided, however, that with respect to the borrowing on the Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower shall select Interest Periods so that, to the best of the Borrower’s knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Rate Loans prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans Advance and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, to (but not including) the date of repayment thereof at the Alternate Base Rate, Floating Rate changing when and as such Alternate Base Floating Rate changes. Changes in the rate of interest on that portion of the Loans any Advance maintained as a Floating Rate Loans Loan will take effect simultaneously with each change in the Alternate Base Rate. Each Advance of Eurodollar Rate Loans Advance shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Advance, changing when and as the Applicable Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans will take effect simultaneously with each change in the Applicable MarginAdvance.
Appears in 1 contract
Samples: Credit Agreement (Quixote Corp)
Method of Selecting Types and Interest Periods for Advances. The Borrower Borrowers shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable to each Advance from time to time. The Borrower Borrowers shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B C hereto (a “Borrowing/Election Notice”"BORROWING NOTICE") not later than 11:00 10:00 a.m. (Chicago Indianapolis time) (a) on or before the Borrowing Date of each Advance of Floating Rate Loans Advance and (b) three (3) Business Days before the Borrowing Date for each Advance of Eurodollar Rate Loans Advance, specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable thereto; provided, however, that with respect to the borrowing on the Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower Borrowers shall select Interest Periods so that, to the best of the Borrower’s Borrowers' knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Rate Loans Advance prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to and no Interest Period shall extend beyond the terms hereofRevolving Loan Termination Date. Each Advance of Floating Rate Loans Advance and all Obligations other than Revolving Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, Advance to (but not including) the date of repayment thereof at the Alternate Base Floating Rate, changing when and as such Alternate Base Floating Rate changes. Changes in the rate of interest on that portion of the Loans any Advance maintained as a Floating Rate Loans Loan will take effect simultaneously with each change in the Alternate Base Prime Rate. Each Advance of Eurodollar Rate Loans Advance shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Advance, changing when and as the Applicable Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans will take effect simultaneously with each change in the Applicable MarginAdvance.
Appears in 1 contract
Method of Selecting Types and Interest Periods for Advances. The ------------------------------------------------------------ applicable Borrower shall select the Type and Class of Advance and, in the case of each Eurodollar Advance of or Korean Eurodollar Rate LoansAdvance, the Interest Period applicable to each Advance from time to time. The applicable Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B hereto (a “Borrowing/Election Notice”"BORROWING NOTICE") not later than 11:00 a.m. a.m., New York time (Chicago timeor Seoul time for Korean Won Advances or Korean Eurodollar Advance) (ai) on or before the Borrowing Date of each Advance of Floating Base Rate Loans and Advance; (bii) three (3) Business Days before the Borrowing Date for each Advance of Eurodollar Rate Loans Advance; (iii) three (3) Business Days before the Borrowing Date for each Korean Eurodollar Advance; and (iv) five (5) Business Days before the Borrowing Date for each Korean Won Advance, specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected, as applicable; and (iv) in the case of each Eurodollar Advance of or Korean Eurodollar Rate LoansAdvance, the Interest Period applicable thereto; provided, however, that Period. There shall be (x) no more than twenty (20) Interest Periods in effect with respect to all of the borrowing on the Funding DateRevolving Loans at any time, such notice shall be delivered in accordance and (y) with the terms of Section 2.01(brespect to any Borrower individually, no more than four (4) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower shall select Interest Periods so that, in effect with respect to the best all of the Borrower’s knowledgeRevolving Loans made to such Borrower at any time, it will not be necessary in each case, with Interest Periods for the same term but in different currencies or to prepay all or any portion of any Advance of Eurodollar Rate Loans prior to the last day of the applicable different Borrowers being treated as separate Interest Period in order to make mandatory prepayments as required pursuant to the terms hereofPeriods. Each Base Rate Advance of Floating Rate Loans and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, Advance to (but not including) the date of repayment thereof at the Alternate Base Rate, changing when and as such Alternate Base Rate changes. Changes in the rate of interest on that portion of the Loans maintained as Floating Rate Loans will take effect simultaneously with each change in the Alternate Base Rate. Each Eurodollar Advance, Korean Eurodollar Advance of Eurodollar Rate Loans and Korean Won Advance shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Advance. All Obligations (other than Advances) shall bear interest from and including the date such amount is payable under the terms of this Agreement or the other Loan Documents to (but not including) the date of repayment thereof at the Base Rate, changing when and as the Applicable Margin such Base Rate changes. Changes in the rate of interest on that portion of the Loans any Advance maintained as Eurodollar a Base Rate Loans Loan or such other Obligations will take effect simultaneously with each change in the Applicable Marginapplicable Base Rate.
Appears in 1 contract
Samples: Long Term Credit Agreement (Agribrands International Inc)
Method of Selecting Types and Interest Periods for Advances. The applicable Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable to each Advance from time to time. The applicable Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B hereto (a “"Borrowing/Election Notice”") not later than 11:00 10:00 a.m. (Chicago time) (a) on or before the Borrowing Date of each Advance of Floating Rate Loans and Advance, (b) three (3) Business Days before the Borrowing Date for each Advance of Eurodollar Rate Loans specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Rate Loans, the Interest Period applicable thereto; provided, however, that with respect to the borrowing on the Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower Borrowers shall select Interest Periods so that, to the best of the Borrower’s their knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Rate Loans Loan prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans Advance and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, to (but not including) the date of repayment Sidley Xxxxxx Xxxxx & Xxxx thereof at the Alternate Base Rate, Floating Rate changing when and as such Alternate Base Floating Rate changes. Changes in the rate of interest on that portion of the Loans any Advance maintained as a Floating Rate Loans Loan will take effect simultaneously with each change in the Alternate Base Rate. Each Advance of Eurodollar Rate Loans Advance shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Advance, changing Eurodollar Rate Advance and shall change as and when and as the Applicable Eurodollar Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans will take effect simultaneously with each change in the Applicable Margin.
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Method of Selecting Types and Interest Periods for Advances. The Borrower and the Alternate Currency Borrowers, as applicable, shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Alternate Currency Loan and Eurocurrency Rate LoansAdvance, the Interest Period Period, Agreed Currency and Alternate Currency applicable to each Advance from time to time. The Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B hereto (a “Borrowing"BORROWING/Election Notice”CONVERSION/CONTINUATION NOTICE") not later than 11:00 10:00 a.m. (Chicago time) (a) on or before the Borrowing Date of each Advance of Floating Rate Loans Advance, and (b) three (3) Business Days before the Borrowing Date for each Eurocurrency Rate Advance of Eurodollar to be made in Dollars, and (c) four (4) Business Days before the Borrowing Date for each Eurocurrency Rate Loans Advance to be made in any Agreed Currency other than Dollars and (d) five (5) Business Days before the Borrowing Date for each Alternate Currency Loan (or such other period as may be agreed to by the Agent), and the applicable Alternate Currency Borrower shall give the Alternate Currency Bank irrevocable notice by 10:00 a.m. (local time) two (2) Business Days prior to the Borrowing Date for such Alternate Currency Loan (or such other period as may be specified in the applicable Alternate Currency Addendum), specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Eurocurrency Rate Advance of Eurodollar Rate Loansand Alternate Currency Loan, the Interest Period and Agreed Currency or Alternate Currency applicable thereto; provided, however, that with respect to the borrowing on the Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower shall select Interest Periods so that, to the best of the Borrower’s 's knowledge, it will not be necessary to prepay all or any portion of any Eurocurrency Rate Advance of Eurodollar Rate Loans prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans Advance and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, to (but not including) the date of repayment thereof at the Alternate Base Floating Rate, changing when and as such Alternate Base Floating Rate changes. Changes in the rate of interest on that portion of the Loans any Advance maintained as a Floating Rate Loans Loan will take effect simultaneously with each change in the Alternate Base Rate. Each Eurocurrency Rate Advance of Eurodollar Rate Loans shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Eurocurrency Rate Advance, changing when and as the Applicable Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans will take effect simultaneously with each change in the Applicable Margin.
Appears in 1 contract
Samples: Credit Agreement (Schawk Inc)
Method of Selecting Types and Interest Periods for Advances. The applicable Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable to each Advance from time to time. The applicable Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B hereto (a “Borrowing"BORROWING/Election Notice”ELECTION NOTICE") not later than 11:00 10:00 a.m. (Chicago time) (a) on or before the Borrowing Date of each Advance of Floating Rate Loans and Advance, (b) three (3) Business Days before the Borrowing Date for each Advance of Eurodollar Rate Loans specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Rate Loans, the Interest Period applicable thereto; provided, however, that with respect to the borrowing on the Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower Borrowers shall select Interest Periods so that, to the best of the Borrower’s their knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Rate Loans Loan prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans Advance and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, to (but not including) the date of repayment thereof at the Alternate Base Rate, Floating Rate changing when and as such Alternate Base Floating Rate changes. Changes in the rate of interest on that portion of the Loans any Advance maintained as a Floating Rate Loans Loan will take effect simultaneously with each change in the Alternate Base Rate. Each Advance of Eurodollar Rate Loans Advance shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Advance, changing Eurodollar Rate Advance and shall change as and when and as the Applicable Eurodollar Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans will take effect simultaneously with each change in the Applicable Margin.
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Method of Selecting Types and Interest Periods for Advances. The Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable to each Advance from time to time. The Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B D hereto (a “Borrowing/Election "Borrowing Notice”") not later than 11:00 a.m. (Chicago time) (a) on or before the Borrowing Date of each Advance of Floating Rate Loans Advance and (b) by 10:00 a.m. (Chicago time) on the day that is three (3) Business Days before the Borrowing Date for each Advance of Eurodollar Rate Loans Advance, specifying: (i) the Borrowing Date (which shall be a Business Day) of for such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable thereto; provided, however, that with respect to the borrowing on the Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower shall select Interest Periods so that, to the best of the Borrower’s 's knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Rate Loans Advance prior to the last day of the applicable Interest Period or the Revolving Loan Termination Date in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans Advance and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, Advance to (but not including) the date of repayment thereof at the Alternate Base Floating Rate, changing when and as such Alternate Base Floating Rate changes. Changes in the rate of interest on that portion of the Loans any Advance maintained as a Floating Rate Loans Loan will take effect simultaneously with each change in the Alternate Base Rate. Each Advance of Eurodollar Rate Loans Advance shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Advance, changing when and as the Applicable Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans will take effect simultaneously with each change in the Applicable MarginAdvance.
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Method of Selecting Types and Interest Periods for Advances. The Borrower (on behalf of itself or any applicable Subsidiary Borrower) and the Alternate Currency Borrowers, as applicable, shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Alternate Currency Loan and Eurocurrency Rate LoansAdvance, the Interest Period Period, Agreed Currency and Alternate Currency applicable to each Advance from time to time. The Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B hereto (a “Borrowing/Election Conversion/ Continuation Notice”) not later than 11:00 10:00 a.m. (Chicago timeLocal Time) (a) on or before the Borrowing Date of each Advance of Floating Rate Loans Advance, and (b) three (3) Business Days before the Borrowing Date for each Eurocurrency Rate Advance of Eurodollar to be made in Dollars, and (c) four (4) Business Days before the Borrowing Date for each Eurocurrency Rate Loans Advance to be made in any Agreed Currency other than Dollars and (d) five (5) Business Days before the Borrowing Date for each Alternate Currency Loan (or such other period as may be agreed to by the Agent), and the applicable Alternate Currency Borrower shall give the Alternate Currency Bank irrevocable notice by 10:00 a.m. (local time) three (3) Business Days prior to the Borrowing Date for such Alternate Currency Loan (or such other period as may specified in the applicable Alternate Currency Addendum), specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Eurocurrency Rate Advance of Eurodollar Rate Loansand Alternate Currency Loan, the Interest Period and Agreed Currency or Alternate Currency applicable thereto; provided, however, that with respect thereto and (v) the account of the applicable Borrower to which the borrowing on proceeds of the Funding Date, such notice shall applicable Loan are to be delivered in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified in such Section, if applicablecredited. The Borrower shall select Interest Periods so that, to the best of the Borrower’s knowledge, it will not be necessary to prepay all or any portion of any Eurocurrency Rate Advance of Eurodollar Rate Loans or Alternate Currency Loan prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans Advance, each Alternate Currency Loan bearing a fluctuating Alternate Currency Rate and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, to (but not including) the date of repayment thereof at the Floating Rate or Alternate Base Currency Rate, as applicable, changing when and as such Floating Rate or Alternate Base Rate Currency Rate, as applicable, changes. Changes in the rate of interest on that portion of the Loans any Advance maintained as a Floating Rate Loans Loan will take effect simultaneously with each change in the Alternate Base Rate. Changes in the rate of interest on any portion of any Alternate Currency Loan bearing a fluctuating Alternate Currency Rate will take effect simultaneously with each change in such Alternate Currency Rate. Each Eurocurrency Rate Advance of Eurodollar and each Alternate Currency Loan bearing a fixed Alternate Currency Rate Loans shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such AdvanceEurocurrency Rate Advance or Alternate Currency Loan, changing when and as applicable. Notwithstanding anything contained herein to the Applicable Margin changes. Changes in contrary, during the rate continuance of interest on that portion a Default, the Agent may (or shall at the direction of the Loans maintained Required Lenders) declare that no Advance may be made as Eurodollar a Eurocurrency Rate Loans will take effect simultaneously with each change in the Applicable MarginAdvance.
Appears in 1 contract
Samples: Credit Agreement (Schawk Inc)
Method of Selecting Types and Interest Periods for Advances. The ------------------------------------------------------------------ Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable to each Advance from time to time. The Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B hereto (a “Borrowing"BORROWING/Election Notice”ELECTION NOTICE") not --------- later than 11:00 a.m. (Chicago time) (a) on or before the Borrowing Date of each Advance of Floating Rate Loans Advance and (b) three (3) Business Days before the Borrowing Date for each Advance of Eurodollar Rate Loans Advance specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable thereto; provided, -------- however, that with respect to the borrowing on the Initial Funding Date, such ------- notice shall be delivered in accordance with the terms of Section 2.01(b2.1(a) and -------------- shall be accompanied by the documentation specified in such Section, if applicable. The Borrower shall select Interest Periods so that, to the best of the Borrower’s 's knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Rate Loans Advance prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans Advance and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate LoansAdvances, and the date such Obligation is due and owing in the case of such other Obligations, to (but not including) the date of repayment thereof at the Alternate Base Rate, changing when and as such Alternate Base Rate changes. Changes in the rate of interest on that portion of the Loans maintained as Floating Rate Loans will take effect simultaneously with each change in the Alternate Base Rate. Each Advance of Eurodollar Rate Loans Advance shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Eurodollar Rate Advance, changing when and as the Applicable Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans Advances will take effect simultaneously with each change in the Applicable Margin.
Appears in 1 contract
Samples: Revolving Credit Agreement (Energizer Holdings Inc)
Method of Selecting Types and Interest Periods for Advances. (a) The Borrower shall select the Type and Class of Facility B Advance and, in the case of each Advance of Eurodollar Fixed Rate LoansAdvance, the Interest Period applicable to each Advance from time to time. The Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B hereto (a “Borrowing/Election "Borrowing Notice”") not later than 11:00 10:00 a.m. (Chicago time) (a) on or before the Borrowing Date of for each Advance of Floating Rate Loans Advance and prior to 10:00 a.m. (bChicago time) three (3) on the date which is two Business Days before the Borrowing Date for each Advance of Eurodollar Fixed Rate Loans Advance, specifying: :
(i) the Borrowing Date (Date, which shall be a Business Day) , of such Facility B Advance; ,
(ii) the aggregate amount of such Facility B Advance; ,
(iii) the Type and Class of Facility B Advance selected; and , and
(iv) in the case of each Advance of Eurodollar Fixed Rate LoansAdvance, the Interest Period applicable thereto; provided, however, that with respect to the borrowing on the Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower shall select Interest Periods so thatbe entitled to obtain only one Facility B Advance in any single Business Day, to the best of the Borrower’s knowledge, it will not which may be necessary to prepay all comprised in whole or any portion in part of any Advance of Eurodollar Fixed Rate Loans prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, to (but not including) the date of repayment thereof at the Alternate Base Rate, changing when and as such Alternate Base Rate changes. Changes in the rate of interest on that portion of the Loans any Facility B Advance maintained as a Floating Rate Loans Advance will take effect simultaneously with each change in the Alternate Base Floating Rate. Each Fixed Rate Advance of Eurodollar Rate Loans shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Fixed Rate Advance. The Borrower shall select Interest Periods with respect to Fixed Rate Advances so that it is not necessary to repay a Fixed Rate Advance prior to the last day of the applicable Interest Period in order to make any mandatory payment required to be made pursuant to Section 2.02 above or to repay the Obligations in full on the Facility B Maturity Date.
(b) Each Borrowing Notice shall be irrevocable and binding on the Borrower and, changing when and as in respect of the Applicable Margin changes. Changes borrowing specified in the rate Borrowing Notice, the Borrower shall indemnify each Lender against any loss or expense incurred by that Lender as a result of interest any failure to fulfill the applicable conditions set forth in Section 5.02 on or before the proposed Borrowing Date specified in the Borrowing Notice, including, without limitation, any loss (including loss of profit) or expense incurred by reason of the liquidation or reemployment of deposits or other funds acquired by any Lender to fund the Loan to be made by that Lender as part of that borrowing when that Loan, as a result of that failure, is not made on that portion of the Loans maintained as Eurodollar Rate Loans will take effect simultaneously with each change in the Applicable Margindate.
Appears in 1 contract
Method of Selecting Types and Interest Periods for Advances. The applicable Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Eurocurrency Rate LoansAdvance, the Interest Period Period, Agreed Currency and/or Alternate Currency applicable to each Advance from time to time. The applicable Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit EXHIBIT B hereto (a “Borrowing"BORROWING/Election Notice”CONVERSION/CONTINUATION NOTICE") not later than 11:00 10:00 a.m. (Chicago New York time) (a) on or before the Borrowing Date of each Advance of Floating Rate Loans Advance, and (b) three (3) Business Days before the Borrowing Date for each Eurocurrency Rate Advance of Eurodollar to be made in Dollars, and (c) four (4) Business Days before the Borrowing Date for each Eurocurrency Rate Loans Advance to be made in any Agreed Currency other than Dollars and (d) three (3) Business Days before the Borrowing Date for each Alternate Currency Loan (or such other period as may be agreed to by the Administrative Agent and the applicable Borrower), and the applicable Borrower shall give the applicable Alternate Currency Bank irrevocable notice by 10:00 a.m. (local time) three (3) Business Days prior to the Borrowing Date for such Alternate Currency Loan (or such other period as may be agreed to by the applicable Alternate Currency Bank or specified in the applicable Alternate Currency Addendum), specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Eurocurrency Rate LoansLoan, the Interest Period and Agreed Currency or Alternate Currency applicable thereto; provided. Notwithstanding the foregoing, howeverif the Company has submitted a Competitive Bid Quote Request pursuant to SECTION 2.2(B), that a Borrowing/Conversion/Continuation Notice for a Floating Rate Advance may be given not later than one (1) hour after the time which the Company is required to reject one or more bids offered in connection with respect an Absolute Rate Auction pursuant to the borrowing on the Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(bSECTION 2.2(F) and shall a Borrowing/Conversion/Continuation Notice for a Eurocurrency Rate Loan may be accompanied by given not later than one (1) hour after the documentation specified time the Company is required to reject one or more bids offered in such Section, if applicable. The Borrower shall select Interest Periods so that, to the best of the Borrower’s knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Rate Loans prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required connection with a Eurocurrency Auction pursuant to the terms hereofSECTION 2.2(F). Each Advance of Floating Rate Loans Advance, each Alternate Currency Loan bearing a fluctuating Alternate Currency Rate and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, to (but not including) the date of repayment thereof at the Floating Rate or Alternate Base Currency Rate, as applicable, changing when and as such Floating Rate or Alternate Base Rate Currency Rate, as applicable, changes. Changes in the rate of interest on that portion of the Loans any Advance maintained as a Floating Rate Loans Loan will take effect simultaneously with each change in the Alternate Base Rate. Changes in the rate of interest on any portion of any Alternate Currency Loan bearing a fluctuating Alternate Currency Rate will take effect simultaneously with each change in such Alternate Currency Rate. Each Eurocurrency Rate Advance of Eurodollar Rate Loans shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Advance, changing Eurocurrency Rate Advance and shall change as and when and as the Applicable Eurocurrency Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans will take effect simultaneously with each change in the Applicable Margin.
Appears in 1 contract
Method of Selecting Types and Interest Periods for Advances. The Borrower (on behalf of itself or any applicable Subsidiary Borrower) and the Alternate Currency Borrowers, as applicable, shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Alternate Currency Loan and Eurocurrency Rate LoansAdvance, the Interest Period Period, Agreed Currency and Alternate Currency applicable to each Advance from time to time. The Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B hereto (a “Borrowing/Election Conversion/ Continuation Notice”) not later than 11:00 10:00 a.m. (Chicago time) (a) on or before the Borrowing Date of each Advance of Floating Rate Loans Advance, and (b) three (3) Business Days before the Borrowing Date for each Eurocurrency Rate Advance of Eurodollar to be made in Dollars, and (c) four (4) Business Days before the Borrowing Date for each Eurocurrency Rate Loans Advance to be made in any Agreed Currency other than Dollars and (d) five (5) Business Days before the Borrowing Date for each Alternate Currency Loan (or such other period as may be agreed to by the Agent), and the applicable Alternate Currency Borrower shall give the Alternate Currency Bank irrevocable notice by 10:00 a.m. (local time) three (3) Business Days prior to the Borrowing Date for such Alternate Currency Loan (or such other period as may specified in the applicable Alternate Currency Addendum), specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Eurocurrency Rate Advance of Eurodollar Rate Loansand Alternate Currency Loan, the Interest Period and Agreed Currency or Alternate Currency applicable thereto; provided, however, that with respect thereto and (v) the account of the applicable Borrower to which the borrowing on proceeds of the Funding Date, such notice shall applicable Loan are to be delivered in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified in such Section, if applicablecredited. The Borrower shall select Interest Periods so that, to the best of the Borrower’s knowledge, it will not be necessary to prepay all or any portion of any Eurocurrency Rate Advance of Eurodollar Rate Loans or Alternate Currency Loan prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans Advance, each Alternate Currency Loan bearing a fluctuating Alternate Currency Rate and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, to (but not including) the date of repayment thereof at the Floating Rate or Alternate Base Currency Rate, as applicable, changing when and as such Floating Rate or Alternate Base Rate Currency Rate, as applicable, changes. Changes in the rate of interest on that portion of the Loans any Advance maintained as a Floating Rate Loans Loan will take effect simultaneously with each change in the Alternate Base Rate. Changes in the rate of interest on any portion of any Alternate Currency Loan bearing a fluctuating Alternate Currency Rate will take effect simultaneously with each change in such Alternate Currency Rate. Each Eurocurrency Rate Advance of Eurodollar and each Alternate Currency Loan bearing a fixed Alternate Currency Rate Loans shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such AdvanceEurocurrency Rate Advance or Alternate Currency Loan, changing when and as applicable. Notwithstanding anything contained herein to the Applicable Margin changes. Changes in contrary, during the rate continuance of interest on that portion a Default, the Agent may (or shall at the direction of the Loans maintained Required Lenders) declare that no Advance may be made as Eurodollar a Eurocurrency Rate Loans will take effect simultaneously with each change in the Applicable MarginAdvance.
Appears in 1 contract
Samples: Credit Agreement (Schawk Inc)
Method of Selecting Types and Interest Periods for Advances. The Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Eurocurrency Rate LoansAdvance, the Interest Period and Agreed Currency applicable to each Advance from time to time. The Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B EXHIBIT C hereto (a “Borrowinga) "BORROWING/Election Notice”) CONVERSION/ CONTINUATION NOTICE" not later than 11:00 10:00 a.m. (Chicago time) (a) on or before the Borrowing Date of each Advance of Floating Rate Loans and Advance, (b) three (3) Business Days before the Borrowing Date for each Eurocurrency Rate Advance of Eurodollar to be made in Dollars, and (c) four Business Days before the Borrowing Date for each Eurocurrency Rate Loans Advance to be made in any Agreed Currency other than Dollars, specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Eurocurrency Rate LoansAdvance, the Interest Period and Agreed Currency applicable thereto; provided, however, that with respect to the borrowing on the Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower shall select Interest Periods so that, to the best of the Borrower’s 's knowledge, it will not be necessary to prepay all or any portion of any Eurocurrency Rate Advance of Eurodollar Rate Loans prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans Advance and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, to (but not including) the date of repayment thereof at the Alternate Base Floating Rate, changing when and as such Alternate Base Floating Rate changes. Changes in the rate of interest on that portion of the Loans any Advance maintained as a Floating Rate Loans Loan will take effect simultaneously with each change in the Alternate Base Rate. Each Eurocurrency Rate Advance of Eurodollar Rate Loans shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Eurocurrency Rate Advance, changing when and as the Applicable Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans will take effect simultaneously with each change in the Applicable Margin.
Appears in 1 contract
Samples: Credit Agreement (Ifr Systems Inc)
Method of Selecting Types and Interest Periods for Advances. The applicable Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Eurocurrency Rate LoansAdvance, the Interest Period Period, Agreed Currency and/or Alternate Currency applicable to each Advance from time to time. The applicable Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B hereto (a “"Borrowing/Election Conversion/Continuation Notice”") not later than 11:00 a.m. (Chicago time) (a) on or one (1) Business Day before the Borrowing Date of each Advance of Floating Rate Loans Advance, and (b) three (3) Business Days before the Borrowing Date for each Eurocurrency Rate Advance of Eurodollar to be made in Dollars, and (c) four (4) Business Days before the Borrowing Date for each Eurocurrency Rate Loans Advance to be made in any Agreed Currency other than Dollars and (d) three (3) Business Days before the Borrowing Date for each Alternate Currency Loan (or such other period as may be agreed to by the Administrative Agent and the applicable Borrower), and the applicable Borrower shall give the applicable Alternate Currency Bank irrevocable notice by 11:00 a.m. (local time) three (3) Business Days prior to the Borrowing Date for such Alternate Currency Loan (or such other period as may be agreed to by the applicable Alternate Currency Bank or specified in the applicable Alternate Currency Addendum), specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; (iv) whether the Advance will be a Tranche A Advance or a Tranche B Advance; and (ivv) in the case of each Advance of Eurodollar Eurocurrency Rate LoansLoan, the Interest Period and Agreed Currency or Alternate Currency applicable thereto; provided, however, that with respect to the borrowing on the Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower shall select Interest Periods so that, to the best of the Borrower’s knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Rate Loans prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans Advance, each Alternate Currency Loan bearing a fluctuating Alternate Currency Rate and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, to (but not including) the date of repayment thereof at the Floating Rate or Alternate Base Currency Rate, as applicable, changing when and as such Floating Rate or Alternate Base Rate Currency Rate, as applicable, changes. Changes in the rate of interest on that portion of the Loans any Advance maintained as a Floating Rate Loans Loan will take effect simultaneously with each change in the Alternate Base Rate. Changes in the rate of interest on any portion of any Alternate Currency Loan bearing a fluctuating Alternate Currency Rate will take effect simultaneously with each change in such Alternate Currency Rate. Each Eurocurrency Rate Advance of Eurodollar Rate Loans shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Advance, changing Eurocurrency Rate Advance and shall change as and when and as the Applicable Eurocurrency Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans will take effect simultaneously with each change in the Applicable Margin.
Appears in 1 contract
Method of Selecting Types and Interest Periods for Advances. The Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable to each Advance from time to time. The Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit EXHIBIT B hereto (a “Borrowing"BORROWING/Election Notice”ELECTION NOTICE") not later than 11:00 10:00 a.m. (Chicago time) (a) on or before the Borrowing Date of each Advance of Floating Rate Loans Advance and (b) three (3) Business Days before the Borrowing Date for each Advance of Eurodollar Rate Loans Advance specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable thereto; provided, however, that with respect to the borrowing on the Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower shall select Interest Periods so that, to the best of the Borrower’s 's knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Rate Loans Advance prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans Advance and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, to (but not including) the date of repayment thereof at the Alternate Base Floating Rate, changing when and as such Alternate Base Floating Rate changes. Changes in the rate of interest on that portion of the Loans maintained as Floating Rate Loans will take effect simultaneously with each change in the Alternate Base Rate. Each Advance of Eurodollar Rate Loans Advance shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Eurodollar Rate Advance, changing when and as the Applicable Eurodollar Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans Advances will take effect simultaneously with each change in the Applicable Eurodollar Margin.
Appears in 1 contract
Method of Selecting Types and Interest Periods for Advances. The Borrower Borrowers shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable to each Advance from time to time. The Borrower Borrowers shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B C hereto (a “Borrowing/Election Notice”"BORROWING NOTICE") not later than 11:00 10:00 a.m. (Chicago Indianapolis time) (a) on or before the Borrowing Date of each Advance of Floating Rate Loans Advance and (b) three (3) Business Days before the Borrowing Date for each Advance of Eurodollar Rate Loans Advance, specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable thereto; provided, however, that with respect to the borrowing on the Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower Borrowers shall select Interest Periods so that, to the best of the Borrower’s Borrowers' knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Rate Loans Advance prior to the last day of the applicable Interest Period in order to make mandatory prepayments and no Interest Period shall extend beyond the Revolving Loan Termination Date or the Debt Purchase Facility Termination Date, as required pursuant to the terms hereofapplicable. Each Advance of Floating Rate Loans Advance and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, Advance to (but not including) the date of repayment thereof at the Alternate Base Floating Rate, changing when and as such Alternate Base Floating Rate changes. Changes in the rate of interest on that portion of the Loans any Advance maintained as a Floating Rate Loans Loan will take effect simultaneously with each change in the Alternate Base Prime Rate. Each Advance of Eurodollar Rate Loans Advance shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Advance, changing when and as the Applicable Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans will take effect simultaneously with each change in the Applicable MarginAdvance.
Appears in 1 contract
Method of Selecting Types and Interest Periods for Advances. The Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable to each Advance from time to time. The Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B C hereto (a “Borrowing"BORROWING/Election Notice”CONVERSION/CONTINUATION NOTICE") not later than 11:00 10:00 a.m. (Chicago time) (a) on or before the Borrowing Date of each Advance of Floating Rate Loans Advance and (b) three (3) Business Days before the Borrowing Date for each Advance of Eurodollar Rate Loans Advance, specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable thereto; provided, however, that with respect to the borrowing on the Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower shall select Interest Periods so that, to the best of the Borrower’s 's knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Rate Loans Advance prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans Advance and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, to (but not including) the date of repayment thereof at the Alternate Base Floating Rate, changing when and as such Alternate Base Floating Rate changes. Changes in the rate of interest on that portion of the Loans any Advance maintained as a Floating Rate Loans Loan will take effect simultaneously with each change in the Alternate Base Rate. Each Advance of Eurodollar Rate Loans Advance shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Advance, changing when and as the Applicable Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans will take effect simultaneously with each change in the Applicable MarginAdvance.
Appears in 1 contract
Samples: Credit Agreement (FTD Corp)
Method of Selecting Types and Interest Periods for Advances. The Borrower and the Alternate Currency Borrowers, as applicable, shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Alternate Currency Loan and Eurocurrency Rate LoansAdvance, the Interest Period Period, Agreed Currency and Alternate Currency applicable to each Advance from time to time. The Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B hereto (a “Borrowing"BORROWING/Election Notice”CONVERSION/ CONTINUATION NOTICE") not later than 11:00 10:00 a.m. (Chicago time) (a) on or before the Borrowing Date of each Advance of Floating Rate Loans Advance, and (b) three (3) Business Days before the Borrowing Date for each Eurocurrency Rate Advance of Eurodollar to be made in Dollars, and (c) four (4) Business Days before the Borrowing Date for each Eurocurrency Rate Loans Advance to be made in any Agreed Currency other than Dollars and (d) five (5) Business Days before the Borrowing Date for each Alternate Currency Loan (or such other period as may be agreed to by the Agent), and the applicable Alternate Currency Borrower shall give the Alternate Currency Bank irrevocable notice by 10:00 a.m. (local time) two (2) Business Days prior to the Borrowing Date for such Alternate Currency Loan (or such other period as may specified in the applicable Alternate Currency Addendum), specifying: :
(i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Eurocurrency Rate Advance of Eurodollar Rate Loansand Alternate Currency Loan, the Interest Period and Agreed Currency or Alternate Currency applicable thereto; provided, however, that with respect to the borrowing on the Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower shall select Interest Periods so that, to the best of the Borrower’s 's knowledge, it will not be necessary to prepay all or any portion of any Eurocurrency Rate Advance of Eurodollar Rate Loans or Alternate Currency Loan prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans Advance, each Alternate Currency Loan bearing a fluctuating Alternate Currency Rate and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, to (but not including) the date of repayment thereof at the Floating Rate or Alternate Base Currency Rate, as applicable, changing when and as such Floating Rate or Alternate Base Rate Currency Rate, as applicable, changes. Changes in the rate of interest on that portion of the Loans any Advance maintained as a Floating Rate Loans Loan will take effect simultaneously with each change in the Alternate Base Rate. Changes in the rate of interest on any portion of any Alternate Currency Loan bearing a fluctuating Alternate Currency Rate will take effect simultaneously with each change in such Alternate Currency Rate. Each Eurocurrency Rate Advance of Eurodollar and each Alternate Currency Loan bearing a fixed Alternate Currency Rate Loans shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such AdvanceEurocurrency Rate Advance or Alternate Currency Loan, changing when and as applicable. Notwithstanding anything contained herein to the Applicable Margin changes. Changes in contrary, during the rate continuance of interest on that portion a Default, the Agent may (or shall at the direction of the Loans maintained Required Lenders) declare that no Advance may be made as Eurodollar a Eurocurrency Rate Loans will take effect simultaneously with each change in the Applicable MarginAdvance.
Appears in 1 contract
Samples: Credit Agreement (Schawk Inc)
Method of Selecting Types and Interest Periods for Advances. The Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable to each Advance from time to time. The Borrower shall give the Administrative Agent Lender irrevocable notice in substantially the form of Exhibit B A hereto (a “Borrowing/Borrowing Election Notice”) not later than 11:00 a.m. 12:00 noon (Chicago time) (a) on or before the Borrowing Date of each Advance of Floating Rate Loans Advance, and (b) three (3) Business Days before the Borrowing Date for each Advance of Eurodollar Rate Loans Advance specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable thereto; provided, however, that with respect to the borrowing on the Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower shall select Interest Periods so that, to the best of the Borrower’s knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Rate Loans prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans Advance and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, to (but not including) the date of repayment thereof at the Alternate Base Rate, Floating Rate changing when and as such Alternate Base Floating Rate changes. Changes in the rate of interest on that portion of the Loans any Advance maintained as a Floating Rate Loans Loan will take effect simultaneously with each change in the Alternate Base Rate. Each Advance of Eurodollar Rate Loans Advance shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Advance, changing when and as the Applicable Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans will take effect simultaneously with each change in the Applicable MarginAdvance.
Appears in 1 contract
Samples: Credit Agreement (Quixote Corp)
Method of Selecting Types and Interest Periods for Advances. The Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Rate Term Benchmark Loans, the Interest Period applicable to each Advance from time to time. The Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B hereto (a “Borrowing/Election Notice”) not later than 11:00 a.m. (Chicago time) (a) on or before the Borrowing Date of each Advance of Floating Rate Loans and (b) three (3) Business Days before the Borrowing Date for each Advance of Eurodollar Rate Term Benchmark Loans specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Rate Term Benchmark Loans, the Interest Period applicable thereto; provided, however, that with respect to the borrowing on the Funding Closing Date, such notice shall be delivered in accordance with the terms of Section 2.01(b2.01(c) and shall be accompanied by the documentation specified in such Section, if applicable; provided further, that (i) the initial Interest Period of the 2021 Incremental Term Loans shall be determined in accordance with the definition of “Interest Period” and (ii) the initial Interest Period of the 2024 Refinancing Term Loans shall be determined in accordance with the definition of “Interest Period”. The Borrower shall select Interest Periods so that, to the best of the Borrower’s knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Rate Term Benchmark Loans prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, to (but not including) the date of repayment thereof at the Alternate Base Rate, changing when and as such Alternate Base Rate changes. Changes in the rate of interest on that portion of the Loans maintained as Floating Rate Loans will take effect simultaneously with each change in the Alternate Base Rate. Each Advance of Eurodollar Rate Term Benchmark Loans shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Advance, changing when and as the Applicable Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Term Benchmark Loans will take effect simultaneously with each change in the Applicable Margin.
Appears in 1 contract
Method of Selecting Types and Interest Periods for Advances. The Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Fixed Rate LoansAdvance, the Interest Period applicable to each Advance from time to time. The Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B hereto (a “Borrowing/Election "Borrowing Notice”") not later than 11:00 10:00 a.m. (Chicago time) (a) on or before the Borrowing Date of for each Advance of Floating Rate Loans Advance and prior to 10:00 a.m. (bChicago time) three (3) on the date which is two Business Days before the Borrowing Date for each Advance of Eurodollar Fixed Rate Loans Advance, specifying: (i) i0 the Borrowing Date (Date, which shall be a Business Day) , of such Advance; , (ii) ii0 the aggregate amount of such Advance; , (iii) iii0 the Type and Class of Advance selected; , and (iv) iv0 in the case of each Advance of Eurodollar Fixed Rate LoansAdvance, the Interest Period applicable thereto; provided, however, that with respect to the borrowing on the Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower shall select Interest Periods so thatbe entitled to obtain only one Advance in any single Business Day, to the best of the Borrower’s knowledge, it will not which may be necessary to prepay all comprised in whole or any portion in part of any Advance of Eurodollar Fixed Rate Loans prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, to (but not including) the date of repayment thereof at the Alternate Base Rate, changing when and as such Alternate Base Rate changes. Changes in the rate of interest on that portion of the Loans any Advance maintained as a Floating Rate Loans Advance will take effect simultaneously with each change in the Alternate Base Floating Rate. Each Fixed Rate Advance of Eurodollar Rate Loans shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Fixed Rate Advance, changing when and as . The Borrower shall select Interest Periods with respect to Fixed Rate Advances so that it is not necessary to repay a Fixed Rate Advance prior to the Applicable Margin changes. Changes in the rate of interest on that portion last day of the Loans maintained as Eurodollar Rate Loans will take effect simultaneously with each change applicable Interest Period in order to make any mandatory payment required to be made pursuant to Section 2.02 above or to repay the Applicable MarginObligations in full on the Maturity Date.
Appears in 1 contract
Method of Selecting Types and Interest Periods for Advances. The Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable to each Advance from time to time. The Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B C hereto (a “Borrowing/Election "Borrowing Notice”") not later than 11:00 10:00 a.m. (Chicago Cleveland time) (a) on or before the Borrowing Date of each Advance of Floating Rate Loans Advance and (b) three (3) Business Days before the Borrowing Date for each Advance of Eurodollar Rate Loans Advance, specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable thereto; provided, however, that with respect to the borrowing on the Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower shall select Interest Periods so that, to the best of the Borrower’s 's knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Rate Loans Advance prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans Advance and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, Advance to (but not including) the date of repayment thereof at the Alternate Base Floating Rate, changing when and as such Alternate Base Floating Rate changes. Changes in the rate of interest on that portion of the Loans any Advance maintained as a Floating Rate Loans Loan will take effect simultaneously with each change in the Alternate Base Rate. Each Advance of Eurodollar Rate Loans Advance shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Advance, changing when and as the Applicable Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans will take effect simultaneously with each change in the Applicable MarginAdvance.
Appears in 1 contract
Samples: Credit Agreement (Finishmaster Inc)
Method of Selecting Types and Interest Periods for Advances. The For all Revolving Loans, the Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable to each Advance from time to time. The Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B hereto (a “Borrowing/Election "REVOLVING ADVANCE BORROWING Notice”") not later than 11:00 10:00 a.m. (Chicago time) (a) on or before the Borrowing Date of each Base Rate Advance of Floating Rate Loans and (b) three (3) Business Days before the Borrowing Date for each Advance of Eurodollar Rate Loans Advance, specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable thereto; provided. For all Loans, however, that with respect to the borrowing on the Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower shall select Interest Periods so that, to the best of the Borrower’s 's knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Rate Loans Advance prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Base Rate Advance of Floating Rate Loans and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, Advance to (but not including) the date of repayment thereof at the Alternate interest rate determined as applicable to such Base RateRate Advance, changing when and as such the Alternate Base Rate changes. Changes in the rate of interest on that portion of the Loans any Advance maintained as Floating a Base Rate Loans Loan will take effect simultaneously with each change in the Alternate Base Rate. Each Advance of Eurodollar Rate Loans Advance shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Advance, changing when and as the Applicable Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans will take effect simultaneously with each change in the Applicable MarginAdvance.
Appears in 1 contract
Method of Selecting Types and Interest Periods for Advances. The applicable Borrower shall select the Type and Class of Advance Advance, the Agreed Currency and/or Alternate Currency and, in the case of each Advance of Eurodollar Fixed Rate LoansAdvance, the Interest Period applicable to each such Advance from time to time. The applicable Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B A hereto (a “Borrowing/Election Conversion/Continuation Notice”) not later than 11:00 a.m. (Chicago New York time) (a) on or one Business Day before the Borrowing Date of each Advance of Floating Rate Loans and Advance, (b) three (3) Business Days before the Borrowing Date for each Eurocurrency Rate Advance of Eurodollar to be made in Dollars, (c) four Business Days before the Borrowing Date for each Eurocurrency Rate Loans Advance to be made in any Agreed Currency other than Dollars and (d) four Business Days before the Borrowing Date for each Alternate Currency Loan (or such other period as may be agreed to by the Administrative Agent and the applicable Borrower); provided that such notice to the applicable Alternate Currency Lender shall be given by 11:00 a.m. (local time) specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; (iv) the Agreed Currency or Alternate Currency applicable thereto; and (ivv) in the case of each Advance of Eurodollar Fixed Rate LoansLoan, the Interest Period applicable thereto; provided, however, that with respect to the borrowing on the Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower shall select Interest Periods so that, to the best of the Borrower’s knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Rate Loans prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereofPeriod. Each Advance of Floating Rate Loans Advance and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, Advance in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, to (but not including) the date of repayment thereof at the Alternate Base RateFloating Rate plus the Applicable Floating Rate Margin in effect from time to time, changing when and as such Alternate Base Floating Rate changes. Changes in the rate of interest on that portion of the Loans any Advance maintained as a Floating Rate Loans Loan will take effect simultaneously with each change in the Alternate Base Rate or Alternate Currency Rate, as applicable. Each Fixed Rate Advance of Eurodollar Rate Loans shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as Eurocurrency Rate applicable to such Advance, changing when Fixed Rate Advance and as Interest Period plus the Applicable Fixed Rate Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans will take effect simultaneously with each change in the Applicable Marginfrom time to time.
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Method of Selecting Types and Interest Periods for Advances. The Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Rate Loans, the Interest Period applicable to each Advance from time to time. The Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B hereto (a “Borrowing/Election Notice”) not later than 11:00 a.m. (Chicago time) (a) on or before the Borrowing Date of each Advance of Floating Rate Loans and (b) three (3) Business Days before the Borrowing Date for each Advance of Eurodollar Rate Loans specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Rate Loans, the Interest Period applicable thereto; provided, however, that with respect to the borrowing on the Funding Closing Date, such notice shall be delivered in accordance with the terms of Section 2.01(b2.01(c) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower shall select Interest Periods so that, to the best of the Borrower’s knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Rate Loans prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, to (but not including) the date of repayment thereof at the Alternate Base Rate, changing when and as such Alternate Base Rate changes. Changes in the rate of interest on that portion of the Loans maintained as Floating Rate Loans will take effect simultaneously with each change in the Alternate Base Rate. Each Advance of Eurodollar Rate Loans shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Advance, changing when and as the Applicable Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans will take effect simultaneously with each change in the Applicable Margin.,
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Method of Selecting Types and Interest Periods for Advances. The Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable to each Advance from time to time. The Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B hereto (a “Borrowing/Election Notice”) not later than 11:00 10:00 a.m. (Chicago time) (a) on or before the Borrowing Date of each Advance of the initial Floating Rate Loans and Advance or (b) three (3) Business Days before the Borrowing Date for each Advance of the initial Eurodollar Rate Loans specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Rate Loans, the Interest Period applicable thereto; provided, however, that with respect to the borrowing on the Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower shall select Interest Periods so that, to the best of the Borrower’s their knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Rate Loans Loan prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans Advance and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, to (but not including) the date of repayment thereof at the Alternate Base Rate, Floating Rate changing when and as such Alternate Base Floating Rate changes. Changes in the rate of interest on that portion of the Loans any Advance maintained as a Floating Rate Loans Loan will take effect simultaneously with each change in the Alternate Base Rate. Each Advance of Eurodollar Rate Loans Advance shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Advance, changing Eurodollar Rate Advance and shall change as and when and as the Applicable Eurodollar Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans will take effect simultaneously with each change in the Applicable Margin.
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Method of Selecting Types and Interest Periods for Advances. The Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable to each Advance from time to time. The Borrower shall give the Administrative Agent Agents irrevocable notice in substantially the form of Exhibit B C hereto (a “Borrowing/Election "Borrowing Notice”") not later than 11:00 11:30 a.m. (Chicago Farmington Hills, Michigan time) (a) on or before the Borrowing Date of each Advance of 38 Floating Rate Loans Advance and (b) three (3) Business Days before the Borrowing Date for each Advance of Eurodollar Rate Loans Advance, specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable thereto; provided, however, that with respect to the borrowing on the Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower shall select Interest Periods so that, to the best of the Borrower’s 's knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Rate Loans Advance prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans Advance and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, Advance to (but not including) the date of repayment thereof at the Alternate Base Floating Rate, changing when and as such Alternate Base Floating Rate changes. Changes in the rate of interest on that portion of the Loans any Advance maintained as a Floating Rate Loans Loan will take effect simultaneously with each change in the Alternate Base Rate. Each Advance of Eurodollar Rate Loans Advance shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Advance, changing when and as the Applicable Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans will take effect simultaneously with each change in the Applicable MarginAdvance.
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Method of Selecting Types and Interest Periods for Advances. The Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable to each Advance from time to time. The Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B C hereto (a “Borrowing/Election Notice”"BORROWING NOTICE") not later than 11:00 a.m. 12:00 noon (Chicago time) (a) on or before the Borrowing Date of each Advance of Floating Rate Loans Advance and (b) three (3) Business Days before the Borrowing Date for each Advance of Eurodollar Rate Loans Advance, specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable thereto; provided, however, that with respect to the borrowing on the Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower shall use its best efforts to select Interest Periods so that, to the best of the Borrower’s 's knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Rate Loans Advance prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans Advance and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, Advance to (but not including) the date of repayment thereof at the Alternate Base Floating Rate, changing when and as such Alternate Base Floating Rate changes. Changes in the rate of interest on that portion of the Loans any Advance maintained as a Floating Rate Loans Loan will take effect simultaneously with each change in the Alternate Base Rate. Each Advance of Eurodollar Rate Loans Advance shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Advance, changing when and as the Applicable Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans will take effect simultaneously with each change in the Applicable MarginAdvance.
Appears in 1 contract
Samples: Credit Agreement (Binks Sames Corp)
Method of Selecting Types and Interest Periods for Advances. The Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable to each Advance from time to time. The Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B C hereto (a “Borrowing/Election Notice”"BORROWING NOTICE") not later than 11:00 10:00 a.m. (Chicago time) (a) on or before the Borrowing Date of each Advance of Floating Rate Loans Advance and (b) three (3) Business Days before the Borrowing Date for each Advance of Eurodollar Rate Loans Advance, specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable thereto; provided, however, that with respect to the borrowing on the Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower shall select Interest Periods so that, to the best of the Borrower’s 's knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Rate Loans Advance prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans Advance and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, Advance to (but not including) the date of repayment thereof at the Alternate Base Floating Rate, changing when and as such Alternate Base Floating Rate changes. Changes in the rate of interest on that portion of the Loans any Advance maintained as a Floating Rate Loans Loan will take effect simultaneously with each change in the Alternate Base RateRate or each change in the Applicable Floating Rate Margin. Each Advance of Eurodollar Rate Loans Advance shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Eurodollar Rate Advance, changing when and as the Applicable Eurodollar Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans will take effect simultaneously with each change in the Applicable Margin.
Appears in 1 contract
Samples: Credit Agreement (Printpack Inc)
Method of Selecting Types and Interest Periods for Advances. The Borrower shall select the Type and Class of Syndicated Advance and, in the case of each Advance of Eurodollar Eurocurrency Rate LoansAdvance, the Interest Period and Agreed Currency applicable to each Syndicated Advance from time to time. The Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B hereto (a “Borrowing/Election Notice”"SYNDICATED ADVANCE BORROWING NOTICE") not later than 11:00 a.m. (Chicago Indianapolis time) (a) on or before the Borrowing Date of each Advance of Floating Base Rate Loans and (b) Advance, three (3) Business Days before the Borrowing Date for each Eurocurrency Rate Advance of Eurodollar in Dollars and four Business Days before the Borrowing Date for each Eurocurrency Rate Loans Advance in an Agreed Currency other than Dollars, specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Eurocurrency Rate LoansAdvance, the Interest Period and Agreed Currency applicable thereto; provided, however, that . Each Syndicated Advance in an Agreed Currency other than Dollars must be a Eurocurrency Rate Advance. There shall be no more than six (6) Interest Periods in effect with respect to the borrowing on the Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower shall select Interest Periods so that, to the best all of the Borrower’s knowledge, it will not be necessary to prepay all or Syndicated Advances at any portion of any Advance of Eurodollar Rate Loans prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereoftime. Each Base Rate Advance of Floating Rate Loans and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, Advance to (but not including) the date of repayment thereof at the Alternate Base Rate, changing when and as such Alternate Base Rate changes. Changes in the rate of interest on that portion of the Loans any Syndicated Advance maintained as Floating a Base Rate Loans Loan will take effect simultaneously with each change in the Alternate Base Rate. Each Eurocurrency Rate Advance of Eurodollar Rate Loans shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Eurocurrency Rate Advance, changing when and as the Applicable Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans will take effect simultaneously with each change in the Applicable Margin.
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Method of Selecting Types and Interest Periods for Advances. The Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable to each Advance from time to time. The Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B hereto (a “Borrowing/Election Notice”) not later than 11:00 a.m. noon (Chicago New York time) (a) on or before the Borrowing Date of each Advance of Floating Rate Loans Advance and (b) three (3) Business Days before the Borrowing Date for each Advance of Eurodollar Rate Loans Advance specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable thereto; provided, however, that with respect to the borrowing on the Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower shall select Interest Periods so that, to the best of the Borrower’s knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Rate Loans Advance prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans Advance and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate LoansAdvances, and the date such Obligation is due and owing in the case of such other Obligations, to (but not including) the date of repayment thereof at the Alternate Base RateRate plus the Applicable Margin, changing when and as such Alternate Base Rate and the Applicable Margin, as applicable, changes. Changes in the rate of interest on that portion of the Loans maintained as Floating Rate Loans will take effect simultaneously with each change in the Alternate Base RateRate and the Applicable Margin. Each Advance of Eurodollar Rate Loans Advance shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Eurodollar Rate Advance, changing when and as the Applicable Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans Advances will take effect simultaneously with each change in the Applicable Margin.
Appears in 1 contract
Samples: Term Loan Credit Agreement (Energizer Holdings Inc)
Method of Selecting Types and Interest Periods for Advances. The Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable to each Advance from time to time. The Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B hereto (a “Borrowing/Election Notice”) not later than 11:00 a.m. (Chicago time) (a) on or before the Borrowing Date of each Advance of Floating Rate Loans Advance and (b) three (3) Business Days before the Borrowing Date for each Advance of Eurodollar Rate Loans Advance specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable thereto; provided, however, that with respect to the borrowing on the Initial Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b2.1(b) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower shall select Interest Periods so that, to the best of the Borrower’s knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Rate Loans Advance prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans Advance and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate LoansAdvances, and the date such Obligation is due and owing in the case of such other Obligations, to (but not including) the date of repayment thereof at the Alternate Base Rate, changing when and as such Alternate Base Rate changes. Changes in the rate of interest on that portion of the Loans maintained as Floating Rate Loans will take effect simultaneously with each change in the Alternate Base Rate. Each Advance of Eurodollar Rate Loans Advance shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Eurodollar Rate Advance, changing when and as the Applicable Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans Advances will take effect simultaneously with each change in the Applicable Margin.
Appears in 1 contract
Samples: Revolving Credit Agreement (Energizer Holdings Inc)
Method of Selecting Types and Interest Periods for Advances. The applicable Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Eurocurrency Rate LoansAdvance, the Interest Period and Agreed Currency applicable to each Advance from time to time. The applicable Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B hereto (a “Borrowing/Election Notice”"BORROWING NOTICE") not later than 11:00 a.m. (Chicago Detroit time) (a) on or before the Borrowing Date of each Advance of Floating Base Rate Loans and (b) Advance, three (3) Business Days before the Borrowing Date for each Eurocurrency Rate Advance of Eurodollar in Dollars and four Business Days before the Borrowing Date for each Eurocurrency Rate Loans Advance in an Agreed Currency other than Dollars, specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Eurocurrency Rate LoansAdvance, the Interest Period and Agreed Currency applicable thereto; provided, however, that . Each Advance in an Agreed Currency other than Dollars must be a Eurocurrency Rate Advance. There shall be no more than eight Interest Periods in effect with respect to all of the borrowing on the Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified in such Section, if applicableLoans at any time. The Borrower Borrowers shall select Interest Periods so that, to the best of the Borrower’s Borrowers' knowledge, it will not be necessary to prepay all or any portion of any Eurocurrency Rate Advance of Eurodollar Rate Loans prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Base Rate Advance of Floating Rate Loans and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, Advance to (but not including) the date of repayment thereof at the Alternate Base Rate, changing when and as such Alternate Base Rate changes. All Obligations (other than Advances) shall bear interest from and including the date such amount is payable under the terms of this Agreement or the other Loan Documents to (but not including) the date of repayment thereof at the Base Rate, changing when and as such Base Rate changes. Changes in the rate of interest on that portion of the Loans any Advance maintained as Floating a Base Rate Loans Loan or such other Obligations will take effect simultaneously with each change in the Alternate Base Rate. Each Eurocurrency Rate Advance of Eurodollar Rate Loans shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Eurocurrency Rate Advance, changing when and as the Applicable Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans will take effect simultaneously with each change in the Applicable Margin.
Appears in 1 contract
Samples: Credit Agreement (Aas Capital Corp)
Method of Selecting Types and Interest Periods for Advances. The Borrower and the Alternate Currency Borrowers, as applicable, shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Alternate Currency Loan and Eurocurrency Rate LoansAdvance, the Interest Period Period, Agreed Currency and Alternate Currency applicable to each Advance from time to time. The Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B hereto (a “Borrowing"BORROWING/Election Notice”CONVERSION/ CONTINUATION NOTICE") not later than 11:00 10:00 a.m. (Chicago time) (a) on or before the Borrowing Date of each Advance of Floating Rate Loans Advance, and (b) three (3) Business Days before the Borrowing Date for each Eurocurrency Rate Advance of Eurodollar to be made in Dollars, and (c) four (4) Business Days before the Borrowing Date for each Eurocurrency Rate Loans Advance to be made in any Agreed Currency other than Dollars and (d) five (5) Business Days before the Borrowing Date for each Alternate Currency Loan (or such other period as may be agreed to by the Agent), and the applicable Alternate Currency Borrower shall give the Alternate Currency Bank irrevocable notice by 10:00 a.m. (local time) two (2) Business Days prior to the Borrowing Date for such Alternate Currency Loan (or such other period as may specified in the applicable Alternate Currency Addendum), specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Eurocurrency Rate Advance of Eurodollar Rate Loansand Alternate Currency Loan, the Interest Period and Agreed Currency or Alternate Currency applicable thereto; provided, however, that with respect to the borrowing on the Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower shall select Interest Periods so that, to the best of the Borrower’s 's knowledge, it will not be necessary to prepay all or any portion of any Eurocurrency Rate Advance of Eurodollar Rate Loans or Alternate Currency Loan prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans Advance, each Alternate Currency Loan bearing a fluctuating Alternate Currency Rate and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, to (but not including) the date of repayment thereof at the Floating Rate or Alternate Base Currency Rate, as applicable, changing when and as such Floating Rate or Alternate Base Rate Currency Rate, as applicable, changes. Changes in the rate of interest on that portion of the Loans any Advance maintained as a Floating Rate Loans Loan will take effect simultaneously with each change in the Alternate Base Rate. Changes in the rate of interest on any portion of any Alternate Currency Loan bearing a fluctuating Alternate Currency Rate will take effect simultaneously with each change in such Alternate Currency Rate. Each Eurocurrency Rate Advance of Eurodollar and each Alternate Currency Loan bearing a fixed Alternate Currency Rate Loans shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such AdvanceEurocurrency Rate Advance or Alternate Currency Loan, changing when and as applicable. Notwithstanding anything contained herein to the Applicable Margin changes. Changes in contrary, during the rate continuance of interest on that portion a Default, the Agent may (or shall at the direction of the Loans maintained Required Lenders) declare that no Advance may be made as Eurodollar a Eurocurrency Rate Loans will take effect simultaneously with each change in the Applicable MarginAdvance.
Appears in 1 contract
Samples: Credit Agreement (Schawk Inc)
Method of Selecting Types and Interest Periods for Advances. The Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Rate Term Benchmark Loans, the Interest Period applicable to each Advance from time to time. The Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B hereto (a “Borrowing/Election Notice”) not later than 11:00 a.m. (Chicago time) (a) on or before the Borrowing Date of each Advance of Floating Rate Loans and (b) three (3) Business Days before the Borrowing Date for each Advance of Eurodollar Rate Term Benchmark Loans specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Rate Term Benchmark Loans, the Interest Period applicable thereto; provided, however, that with respect to the borrowing on the Funding Closing Date, such notice shall be delivered in accordance with the terms of Section 2.01(b2.01(c) and shall be accompanied by the documentation specified in such Section, if applicable; provided further, that the initial Interest Period of the 2021 Incremental Term Loans shall be determined in accordance with the definition of “Interest Period”. The Borrower shall select Interest Periods so that, to the best of the Borrower’s knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Rate Term Benchmark Loans prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, to (but not including) the date of repayment thereof at the Alternate Base Rate, changing when and as such Alternate Base Rate changes. Changes in the rate of interest on that portion of the Loans maintained as Floating Rate Loans will take effect simultaneously with each change in the Alternate Base Rate. Each Advance of Eurodollar Rate Term Benchmark Loans shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Advance, changing when and as the Applicable Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Term Benchmark Loans will take effect simultaneously with each change in the Applicable Margin.
Appears in 1 contract
Method of Selecting Types and Interest Periods for Advances. The Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Rate Loans, the Interest Period applicable to each Advance from time to time. The Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B hereto (a “Borrowing/Election Notice”) not later than 11:00 a.m. (Chicago time) (a) on or before the Borrowing Date of each Advance of Floating Rate Loans and (b) three (3) Business Days before the Borrowing Date for each Advance of Eurodollar Rate Loans specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Rate Loans, the Interest Period applicable thereto; provided, however, that with respect to the borrowing on the Funding Closing Date, such notice shall be delivered in accordance with the terms of Section 2.01(b2.01(c) and shall be accompanied by the documentation specified in such Section, if applicable; provided further, that the initial Interest Period of the 2021 Incremental Term Loans shall be determined in accordance with the definition of “Interest Period”. The Borrower shall select Interest Periods so that, to the best of the Borrower’s knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Rate Loans prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, to (but not including) the date of repayment thereof at the Alternate Base Rate, changing when and as such Alternate Base Rate changes. Changes in the rate of interest on that portion of the Loans maintained as Floating Rate Loans will take effect simultaneously with each change in the Alternate Base Rate. Each Advance of Eurodollar Rate Loans shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Advance, changing when and as the Applicable Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans will take effect simultaneously with each change in the Applicable Margin.
Appears in 1 contract
Samples: Incremental Term Loan Amendment (Energizer Holdings, Inc.)
Method of Selecting Types and Interest Periods for Advances. The Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable to each Advance from time to time. The Borrower shall give the Administrative Agent Lender irrevocable notice in substantially the form of Exhibit B hereto (a “Borrowing/Election "Borrowing Notice”") not later than 11:00 9:30 a.m. (Chicago Indianapolis time) (a) on or before the Borrowing Date of each Advance of Floating Rate Loans Advance and (b) three (3) Business Days before the Borrowing Date for each Advance of Eurodollar Rate Loans Advance, specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable thereto; provided, however, that with respect to the borrowing on the Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower shall select Interest Periods so that, to the best of the Borrower’s 's knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Rate Loans Advance prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans Advance and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, Advance to (but not including) the date of repayment thereof at the Alternate Base Floating Rate, changing when and as such Alternate Base Floating Rate changes. Changes in the rate of interest on that portion of the Loans any Advance maintained as a Floating Rate Loans Loan will take effect simultaneously with each change in the Alternate Base Rate. Each Advance of Eurodollar Rate Loans Advance shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Advance, changing when and as the Applicable Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans will take effect simultaneously with each change in the Applicable MarginAdvance.
Appears in 1 contract
Samples: Credit Agreement (Finishmaster Inc)
Method of Selecting Types and Interest Periods for Advances. The applicable Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable to each Advance from time to time. The Such Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B EXHIBIT D hereto (a “Borrowing/Election Notice”"BORROWING NOTICE") not later than 11:00 10:00 a.m. (Chicago Boston time) (a) on or before the Borrowing Date of each Advance of Floating Rate Loans Advance and (b) three (3) Business Days before the Borrowing Date for each Advance of Eurodollar Rate Loans Advance, specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable thereto; provided, however, that with respect to the borrowing on the Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified in such Section, if applicable. The applicable Borrower shall select Interest Periods so that, to the best of the such Borrower’s 's knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Rate Loans Advance prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans Advance and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, Advance to (but not including) the date of repayment thereof at the Alternate Base Floating Rate, changing when and as such Alternate Base Floating Rate changes. Changes in the rate of interest on that portion of the Loans any Advance maintained as a Floating Rate Loans Loan will take effect simultaneously with each change in the Alternate Base Rate. Each Advance of Eurodollar Rate Loans Advance shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Advance, changing when and as the Applicable Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans will take effect simultaneously with each change in the Applicable MarginAdvance.
Appears in 1 contract
Samples: Credit Agreement (American Architectural Products Corp)
Method of Selecting Types and Interest Periods for Advances. The applicable Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Fixed Rate LoansAdvance, the Interest Period and Agreed Currency or Alternate Currency applicable to each Advance from time to time. The Subject to any alternative procedures for Alternate Currency Advances as set forth in the applicable Alternate Currency Addendum, the applicable Borrower shall give the Administrative Agent and, in the case of an Alternate Currency Loan, the applicable Alternate Currency Agent irrevocable notice in substantially the form of Exhibit B hereto (a “Borrowing/Election Notice”"BORROWING NOTICE") (i) not later than 11:00 a.m. (Chicago timetime or local time for Eurocurrency Rate Advances or Alternate Currency Advances) (ai) on or before the Borrowing Date of each Advance of Floating Base Rate Loans and Advance; (bii) three (3) Business Days before the Borrowing Date for each Eurocurrency Rate Advance of Eurodollar in Dollars; and (iii) four Business Days before the Borrowing Date for each Eurocurrency Rate Loans Advance in an Agreed Currency other than Dollars and each Alternate Currency Advance, specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Eurocurrency Rate LoansAdvance, the Interest Period and Agreed Currency applicable thereto; providedand (v) in the case of each Alternate Currency Advance, however, that the Interest Period and Alternate Currency applicable thereto. Each Revolving Advance in an Agreed Currency other than Dollars must be a Eurocurrency Rate Advance. There shall be no more than ten (10) Interest Periods in effect with respect to all of the borrowing on Revolving Loans at any time (with Interest Periods for the Funding Date, such notice same term but in different currencies or to different Borrowers being treated as separate Interest Periods) and there shall be delivered in accordance with no more than the terms identified maximum number of Section 2.01(b) and Interest Periods for any Alternate Currency as shall be accompanied by set forth in the documentation specified in such Section, if applicableapplicable Alternate Currency Addendum. The Borrower Borrowers shall select Interest Periods so that, to the best of the Borrower’s Borrowers' knowledge, it will not be necessary to prepay all or any portion of any Fixed Rate Advance of Eurodollar Rate Loans prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Subject to any alternate pricing provisions set forth in the applicable Alternate Currency Addendum for Alternate Currency Advances, each Floating Rate Loans and all Obligations other than Loans Advance shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, Advance to (but not including) the date of repayment thereof at the Alternate Base Rate, changing when and as such Alternate Base Rate changes. Changes Subject to any alternate pricing provisions set forth in the rate of interest on that portion of the Loans maintained as Floating applicable Alternate Currency Addendum for Alternate Currency Advances, each Fixed Rate Loans will take effect simultaneously with each change in the Alternate Base Rate. Each Advance of Eurodollar Rate Loans shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Fixed Rate Advance. All Obligations (other than Advances) shall bear interest from and including the date such amount is payable under the terms of this Agreement or the other Loan Documents to (but not including) the date of repayment thereof at the Base Rate, changing when and as the Applicable Margin such Base Rate changes. Changes in the rate of interest on that portion of the Loans any Advance maintained as Eurodollar a Floating Rate Loans Loan or such other Obligations will take effect simultaneously with each change in the Applicable Marginapplicable Floating Rate.
Appears in 1 contract
Samples: Credit Agreement (Brightpoint Inc)
Method of Selecting Types and Interest Periods for Advances. The Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Rate Loans, the Interest Period applicable to each Advance from time to time. The Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B hereto (a “Borrowing/Election Notice”) not later than 11:00 a.m. (Chicago time) (a) on or before the Borrowing Date of each Advance of Floating Rate Loans and (b) three (3) Business Days before the Borrowing Date for each Advance of Eurodollar Rate Loans specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Rate Loans, the Interest Period applicable thereto; provided, however, that with respect to the borrowing on the Funding Escrow Date, such notice shall be delivered in accordance with the terms of Section 2.01(b2.01(d) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower shall select Interest Periods so that, to the best of the Borrower’s knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Rate Loans prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, to (but not including) the date of repayment thereof at the Alternate Base Rate, changing when and as such Alternate Base Rate changes. Changes in the rate of interest on that portion of the Loans maintained as Floating Rate Loans will take effect simultaneously with each change in the Alternate Base Rate. Each Advance of Eurodollar Rate Loans shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Advance, changing when and as the Applicable Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans will take effect simultaneously with each change in the Applicable Margin.
Appears in 1 contract
Method of Selecting Types and Interest Periods for Advances. The applicable Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Eurocurrency Rate LoansAdvance, the Interest Period applicable to each Advance from time to time. The applicable Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit EXHIBIT B hereto (a “Borrowing"BORROWING/Election Notice”CONVERSION/CONTINUATION NOTICE") not later than 11:00 10:00 a.m. (Chicago New York time) (a) on or before the Borrowing Date of each Advance of Floating Rate Loans Advance, and (b) three (3) Business Days before the Borrowing Date for each Advance of Eurodollar Eurocurrency Rate Loans Advance, specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Eurocurrency Rate LoansLoan, the Interest Period applicable thereto; provided, however, that with respect to the borrowing on the Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower shall select Interest Periods so that, to the best of the Borrower’s knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Rate Loans prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans Advance and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, to (but not including) the date of repayment thereof at the Alternate Base Floating Rate, changing when and as such Alternate Base Floating Rate changes. Changes in the rate of interest on that portion of the Loans any Advance maintained as a Floating Rate Loans Loan will take effect simultaneously with each change in the Alternate Base Rate. Each Eurocurrency Rate Advance of Eurodollar Rate Loans shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Advance, changing Eurocurrency Rate Advance and shall change as and when and as the Applicable Eurocurrency Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans will take effect simultaneously with each change in the Applicable Margin.
Appears in 1 contract
Method of Selecting Types and Interest Periods for Advances. The Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable to each Advance from time to time. The Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B hereto or such other form as may be approved by the Administrative Agent (including any form on an electronic platform or electronic transmission system as shall be approved by the Administrative Agent) (a “Borrowing/Election Notice”) ), appropriately completed and signed by an Authorized Officer, not later than 11:00 a.m. Eastern time (Chicago timedaylight or standard, as applicable) (a) on or before the Borrowing Date of each Advance of Floating Rate Loans and Advance, (b) three (3) Business Days before the Borrowing Date for each Advance of Eurodollar Rate Loans specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Rate Loans, the Interest Period applicable thereto; provided, however, that with respect to the borrowing on the Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower shall select Interest Periods so that, to the best of the Borrower’s their knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Rate Loans Loan prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans Advance and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, 34 67501104_3 and the date such Obligation is due and owing in the case of such other Obligations, to (but not including) the date of repayment thereof at the Alternate Base Rate, Floating Rate changing when and as such Alternate Base Floating Rate changes. Changes in the rate of interest on that portion of the Loans any Advance maintained as a Floating Rate Loans Loan will take effect simultaneously with each change in the Alternate Base Rate. Each Advance of Eurodollar Rate Loans Advance shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Advance, changing Eurodollar Rate Advance and shall change as and when and as the Applicable Eurodollar Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans will take effect simultaneously with each change in the Applicable Margin.
Appears in 1 contract
Method of Selecting Types and Interest Periods for Advances. The applicable Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Eurocurrency Rate LoansAdvance, the Interest Period Period, Agreed Currency and/or Alternate Currency applicable to each Advance from time to time. The applicable Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B hereto (a “Borrowing"BORROWING/Election Notice”CONVERSION/CONTINUATION NOTICE") not later than 11:00 10:00 a.m. (Chicago New York time) (a) on or before the Borrowing Date of each Advance of Floating Rate Loans Advance, and (b) three (3) Business Days before the Borrowing Date for each Eurocurrency Rate Advance of Eurodollar to be made in Dollars, and (c) four (4) Business Days before the Borrowing Date for each Eurocurrency Rate Loans Advance to be made in any Agreed Currency other than Dollars and (d) three (3) Business Days before the Borrowing Date for each Alternate Currency Loan (or such other period as may be agreed to by the Administrative Agent and the applicable Borrower), and the applicable Borrower shall give the applicable Alternate Currency Bank irrevocable notice by 10:00 a.m. (local time) three (3) Business Days prior to the Borrowing Date for such Alternate Currency Loan (or such other period as may be agreed to by the applicable Alternate Currency Bank or specified in the applicable Alternate Currency Addendum), specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; (iv) whether the Advance will be a Tranche A Advance or a Tranche B Advance; and (ivv) in the case of each Advance of Eurodollar Eurocurrency Rate LoansLoan, the Interest Period and Agreed Currency or Alternate Currency applicable thereto; provided. Notwithstanding the foregoing, howeverif the Company has submitted a Competitive Bid Quote Request pursuant to Section 2.2(B), that a Borrowing/Conversion/Continuation Notice for a Floating Rate Advance may be given not later than one (1) hour after the time which the Company is required to reject one or more bids offered in connection with respect an Absolute Rate Auction pursuant to the borrowing on the Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b2.2(F) and shall a Borrowing/Conversion/Continuation Notice for a Eurocurrency Rate Loan may be accompanied by given not later than one (1) hour after the documentation specified time the Company is required to reject one or more bids offered in such Section, if applicable. The Borrower shall select Interest Periods so that, to the best of the Borrower’s knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Rate Loans prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required connection with a Eurocurrency Auction pursuant to the terms hereofSection 2.2(F). Each Advance of Floating Rate Loans Advance, each Alternate Currency Loan bearing a fluctuating Alternate Currency Rate and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, to (but not including) the date of repayment thereof at the Floating Rate or Alternate Base Currency Rate, as applicable, changing when and as such Floating Rate or Alternate Base Rate Currency Rate, as applicable, changes. Changes in the rate of interest on that portion of the Loans any Advance maintained as a Floating Rate Loans Loan will take effect simultaneously with each change in the Alternate Base Rate. Changes in the rate of interest on any portion of any Alternate Currency Loan bearing a fluctuating Alternate Currency Rate will take effect simultaneously with each change in such Alternate Currency Rate. Each Eurocurrency Rate Advance of Eurodollar Rate Loans shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Advance, changing Eurocurrency Rate Advance and shall change as and when and as the Applicable Eurocurrency Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans will take effect simultaneously with each change in the Applicable Margin.
Appears in 1 contract
Method of Selecting Types and Interest Periods for Advances. The ----------------------------------------------------------- applicable Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable to each Advance from time to time. The applicable Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B hereto (a “Borrowing/Election Notice”"BORROWING NOTICE") not later than 11:00 a.m. (Chicago time) (a) on or before the Borrowing Date of each Advance of Floating Rate Loans Advance and not later than 11:00 a.m. (bChicago time) three (3) Business Days before the Borrowing Date for each Advance of Eurodollar Rate Loans Advance, specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Rate LoansAdvance, the Interest Period applicable thereto; provided, however, that with respect to the borrowing on the Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified in such Section, if applicable. The applicable Borrower shall select Interest Periods so that, to the best knowledge of the applicable Borrower’s knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Rate Loans Advance prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans Advance and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, Advance to (but not including) the date of repayment thereof at the Alternate Base Floating Rate, changing when and as such Alternate Base Floating Rate changes. Changes in the rate of interest on that portion of the Loans any Advance maintained as a Floating Rate Loans Loan will take effect simultaneously with each change in the Alternate Base Rate. Each Advance of Eurodollar Rate Loans Advance shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Eurodollar Rate Advance, changing when and (only as to the Applicable Eurodollar Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans will take effect simultaneously thereof) with each change in the Applicable Eurodollar Margin.
Appears in 1 contract
Method of Selecting Types and Interest Periods for Advances. The applicable Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Fixed Rate LoansAdvance, the Interest Period and Agreed Currency applicable to each Advance from time to time. The applicable Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B hereto (a “Borrowing/Election "Borrowing Notice”") (i) not later than 11:00 a.m. (Chicago timeIndianapolis time or local time for Eurocurrency Rate Advances denominated in an Agreed Currency other than Dollars) (ai) on or before the Borrowing Date of each Advance of Floating Base Rate Loans and Advance; (bii) three (3) Business Days before the Borrowing Date for each Eurocurrency Rate Advance of Eurodollar in Dollars; and (iii) four Business Days before the Borrowing Date for each Eurocurrency Rate Loans Advance in an Agreed Currency other than Dollars, specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Eurocurrency Rate LoansAdvance, the Interest Period and Agreed Currency applicable thereto; provided, however, that . Each Advance in an Agreed Currency other than Dollars must be a Eurocurrency Rate Advance. There shall be no more than ten (10) Interest Periods in effect with respect to all of the borrowing on Revolving Loans at any time (with Interest Periods for the Funding Date, such notice shall be delivered same term but in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified in such Section, if applicabledifferent currencies or to different Borrowers being treated as separate Interest Periods). The Borrower Borrowers shall select Interest Periods so that, to the best of the Borrower’s Borrowers' knowledge, it will not be necessary to prepay all or any portion of any Fixed Rate Advance of Eurodollar Rate Loans prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans and all Obligations other than Loans Advance shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, Advance to (but not including) the date of repayment thereof at the Alternate Base Rate, changing when and as such Alternate Base Rate changes. Changes in the rate of interest on that portion of the Loans maintained as Floating Each Fixed Rate Loans will take effect simultaneously with each change in the Alternate Base Rate. Each Advance of Eurodollar Rate Loans shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Fixed Rate Advance. All Obligations (other than Advances) shall bear 45 55 interest from and including the date such amount is payable under the terms of this Agreement or the other Loan Documents to (but not including) the date of repayment thereof at the Base Rate, changing when and as the Applicable Margin such Base Rate changes. Changes in the rate of interest on that portion of the Loans any Advance maintained as Eurodollar a Floating Rate Loans Loan or such other Obligations will take effect simultaneously with each change in the Applicable Marginapplicable Floating Rate.
Appears in 1 contract