Method of Selecting Types and Interest Periods for New Advances. The Borrower shall select the Type of Advance and, in the case of each LIBOR Advance, the Interest Period applicable to each Advance from time to time. The Borrower shall give the Administrative Agent irrevocable notice (a "Borrowing Notice") not later than (i) 10:00 a.m. (Chicago time) at least one Business Day before the Borrowing Date of each ABR Advance, (ii) three Business Days before the Borrowing Date for each LIBOR Advance, and (iii) 3:00 p.m. (Chicago time) on the Borrowing Date for each Swing Line Loan, specifying: (i) the Borrowing Date, which shall be a Business Day, of such Advance, (ii) the aggregate amount of such Advance, (iii) the Type of Advance selected (which must be a ABR Advance for Swing Line Loans), and (iv) in the case of each LIBOR Advance, the Interest Period applicable thereto. Not later than noon (Chicago time) on each Borrowing Date (except for Swing Line Loans which shall be funded as soon as practical after the Borrowing Notice and Competitive Bid Loans at an Absolute Rate which shall be funded as soon as practical after notice to the Lenders of the principal amount of the Competitive Bid Loans allocated to the participating Lenders.) Each Lender shall make available its Loan or Loans, in funds immediately available in Chicago to the Administrative Agent at its address specified pursuant to Article X. The Administrative Agent will make the funds so received from the Lenders available to the Borrower at the Administrative Agent's aforesaid address. No Interest Period may end after the Facility Termination Date and, unless the Lenders otherwise agree in writing, in no event may there be more than five (5) different Interest Periods for LIBOR Advances outstanding at any one time.
Appears in 1 contract
Samples: Unsecured Revolving Credit Agreement (Storage Usa Inc)
Method of Selecting Types and Interest Periods for New Advances. The Borrower shall select the Type of Advance and, in the case of each LIBOR Advance, the Interest Period applicable to each Advance from time to time. The Borrower shall give the Administrative Agent irrevocable notice (a "Borrowing Notice") (i) not later than (i) 10:00 a.m. (Chicago time) , at least one (1) Business Day before the Borrowing Date of each ABR CBR Advance, (ii) not later than 10:00 a.m. Chicago time, at least three (3) Business Days before the Borrowing Date for each LIBOR Advance, and (iii) 3:00 p.m. (not later than 11:00 a.m. Chicago time) time on the Borrowing Date for each Swing Line Loan, specifying:
(ia) the Borrowing Date, which shall be a Business Day, of such Advance,
(iib) the aggregate amount of such Advance,
(iiic) the Type of Advance selected (which must be a ABR CBR Advance for in the case of the Swing Line Loans), and
(ivd) in the case of each LIBOR Advance, the Interest Period applicable thereto. Not later than noon (Chicago time) on each Borrowing Date (except for Swing Line Loans which shall be funded as soon as practical after the Borrowing Notice and Competitive Bid Loans at an Absolute Rate which shall be funded as soon as practical after notice to the Lenders of the principal amount of the Competitive Bid Loans allocated to the participating Lenders.) Each Date, each Lender shall make available its Loan or Loans, in funds immediately available in Chicago to the Administrative Agent at its address specified pursuant to Article X. ARTICLE XIV. The Lenders shall not be obligated to match fund their LIBOR Advances. The Administrative Agent will make the funds so received from the Lenders available to the Borrower at the Administrative Agent's aforesaid address. No Interest Period may end after the Facility Termination Date and, unless all of the Lenders otherwise agree in writing, in no event may there be more than five (5) different Interest Periods for LIBOR Advances (other than Competitive Bid Loans) outstanding at any one time.
Appears in 1 contract
Samples: Revolving Credit Agreement (Duke Weeks Realty Limited Partnership)
Method of Selecting Types and Interest Periods for New Advances. The Borrower shall select the Type of each Advance and, in the case of each LIBOR a Fixed Rate Advance, the Interest Period applicable to each such Advance from time to time. The Borrower shall give the Administrative Agent irrevocable notice notice, in the form attached hereto as EXHIBIT F (a "Borrowing NoticeREVOLVING LOAN BORROWING NOTICE") ), not later than (i) 10:00 10:30 a.m. (Chicago time) at least one Business Day before (i) on the Revolving Loan Borrowing Date of for each ABR Advance, Floating Rate Advance and (ii) at least three Business Days before the Revolving Loan Borrowing Date for each LIBOR Advance, and (iii) 3:00 p.m. (Chicago time) on the Borrowing Date for each Swing Line Loan, Eurodollar Advance specifying:
(ia) the Revolving Loan Borrowing Date, which shall be a Business Day, of such Advance,
(iib) the aggregate amount of such Advance,
(iiic) the Type of Advance selected (which must be a ABR Advance for Swing Line Loans)such Advance, and
(ivd) in the case of each LIBOR Fixed Rate Advance, the Interest Period applicable thereto. Not later than noon (Chicago time) the Specified Remittance Time on each Revolving Loan Borrowing Date (except for Swing Line Loans which shall be funded as soon as practical after the Borrowing Notice and Competitive Bid Loans at an Absolute Rate which shall be funded as soon as practical after notice to the Lenders of the principal amount of the Competitive Bid Loans allocated to the participating Lenders.) Each Date, each Lender shall make available its Revolving Loan or Loans, Revolving Loans to the Agent in funds immediately available funds at the relevant Payment Office. To the extent that the Agent has received funds from the Lenders as specified in Chicago to the Administrative Agent at its address specified pursuant to Article X. The Administrative preceding sentence, the Agent will make the such funds so received from the Lenders available to the Borrower at the Administrative Agent's aforesaid address. No Interest Period may end after relevant Payment Office as promptly as reasonably practicable (but in any event within two hours) following the Facility Termination Date andSpecified Remittance Time, unless it being understood that if the Lenders otherwise agree relevant Payment Office is located in writingChicago, the Agent will make the applicable funds available to the Borrower by depositing such funds to such account as the Borrower shall from time to time designate in no event may there be more than five (5) different Interest Periods for LIBOR Advances outstanding at any one timea notice delivered to the Agent executed by two Authorized Officers.
Appears in 1 contract
Samples: Credit Agreement (Loewen Group Inc)
Method of Selecting Types and Interest Periods for New Advances. The Borrower shall select the Type of Advance and, in the case of each LIBOR Advance, the Interest Period applicable to each Advance from time to timeAdvance. The Borrower shall give the Administrative Agent irrevocable notice (a "Borrowing Notice") (i) not later than (i) 10:00 9:00 a.m. (Chicago time) at least one Business Day before time on the Borrowing Date if the disbursement is comprised entirely of each ABR a Floating Rate Advance, and (ii) not later than 10:00 a.m. Chicago time, at least three (3) Business Days before the Borrowing Date for each if the disbursement includes one or more LIBOR Advance, and (iii) 3:00 p.m. (Chicago time) on the Borrowing Date for each Swing Line Loan, Advances specifying:
(i) the Borrowing Date, which shall be a Business Day, of such Advance,
(ii) the aggregate amount of such Advance,
(iii) the Type of Advance selected (which must be a ABR Advance for Swing Line Loans)selected, and
(iv) in the case of each LIBOR Advance, the Interest Period applicable thereto. Not later than noon (Chicago time) on each Borrowing Date (except for Swing Line Loans which The Administrative Agent shall be funded as soon as practical after provide a copy to the Lenders by facsimile of its standard notice regarding the Advances selected pursuant to the Borrowing Notice and Competitive Bid Loans at an Absolute Rate which shall be funded as soon as practical after notice to each Conversion/Continuation Notice not later than the Lenders close of business on the principal amount of the Competitive Bid Loans allocated to the participating Lenders.) Business Day it is received. Each Lender shall make available its Loan or Loans, in funds immediately available in Chicago Chicago, Illinois to the Administrative Agent at its address specified pursuant to Article X. XIII on the Borrowing Date not later than noon (Chicago time). The Administrative Agent will make the funds so received from the Lenders available to the Borrower at the Administrative Agent's aforesaid address. No Interest Period may end after the Facility Termination Date and, and unless the all Lenders otherwise agree in writing, in no event may there be more than five (5) different Interest Periods for LIBOR Advances outstanding at any one time.
Appears in 1 contract
Samples: Credit Agreement (Developers Diversified Realty Corp)
Method of Selecting Types and Interest Periods for New Advances. The Borrower shall select the Type of Advance and, in the case of each LIBOR Advance, the LIBOR Interest Period applicable to each Advance from time to time. The Borrower shall give the Administrative Agent irrevocable notice (a "Borrowing Notice") (i) not later than (i) 10:00 9:00 a.m. (Chicago time) at least one Business Day before time on the Borrowing Date if the disbursement is comprised entirely of each ABR a Floating Rate Advance, and (ii) not later than 10:00 a.m. Chicago time, at least three (3) Business Days before the Borrowing Date for each if the disbursement includes one or more LIBOR Advance, and (iii) 3:00 p.m. (Chicago time) on the Borrowing Date for each Swing Line Loan, Advances specifying:
(i) the Borrowing Date, which shall be a Business Day, of such Advance,
(ii) the aggregate amount of such Advance,
(iii) the Type of Advance selected (which must be a ABR Advance for Swing Line Loans)selected, and
(iv) in the case of each LIBOR Advance, the LIBOR Interest Period applicable thereto. Not later than noon (Chicago time) on each Borrowing Date (except for Swing Line Loans which The Administrative Agent shall be funded as soon as practical after provide a copy to the Lenders by facsimile of its standard notice regarding the Advances selected pursuant to the Borrowing Notice and Competitive Bid Loans at an Absolute Rate which shall be funded as soon as practical after notice to each Conversion/Continuation Notice not later than the Lenders close of business on the principal amount of the Competitive Bid Loans allocated to the participating Lenders.) Business Day it is received. Each Lender shall make available its Loan or Loans, in funds immediately available in Chicago Chicago, Illinois to the Administrative Agent at its address specified pursuant to Article X. XIII on the Borrowing Date not later than noon (Chicago time). The Administrative Agent will make the funds so received from the Lenders available to the Borrower at the Administrative Agent's aforesaid address. No LIBOR Interest Period may end after the Facility Termination Date and, unless the Lenders otherwise agree in writing, in no event may there be more than five ten (510) different Interest Periods for LIBOR Advances outstanding at any one time.
Appears in 1 contract
Samples: Term Loan Credit Agreement (Developers Diversified Realty Corp)
Method of Selecting Types and Interest Periods for New Advances. The Borrower shall select the Type of Advance and, in the case of each LIBOR Fixed Rate Advance (other than a Competitive Bid Advance), the Interest Period applicable to each Advance from time to time; provided, that the Borrower will not select Eurodollar Interest Periods with regard to Committed Loans so that more than eight (8) Eurodollar Interest Periods with regard to Tranche A Committed Loans or more than eight (8) Eurodollar Interest Periods with regard to Tranche B Loans are in effect at any time. The Borrower shall give the Administrative Agent irrevocable notice (a "Committed Borrowing Notice") not later than (i) 10:00 a.m. (Chicago time) at least one Business Day before the Borrowing Date of each ABR Advance, (ii) Floating Rate Advance and three Business Days before the Borrowing Date for each LIBOR Eurodollar Advance (other than a Eurodollar Bid Rate Advance, and (iii) 3:00 p.m. (Chicago time) on the Borrowing Date for each Swing Line Loan), specifying:
(i) the Borrowing Date, which shall be a Business Day, of such Advance,
(ii) the aggregate amount of such Advance,
(iii) the Type of Advance selected (which must be and whether a ABR Tranche A Advance for Swing Line Loans)or a Tranche B Advance, and
(iv) in the case of each LIBOR Fixed Rate Advance, the Interest Period applicable thereto. Not later than noon (Chicago time) on each Borrowing Date (except for Swing Line Loans which shall be funded as soon as practical after the Borrowing Notice Date, each Tranche A Lender if a Tranche A Committed Advance and Competitive Bid Loans at an Absolute Rate which shall be funded as soon as practical after notice to the Lenders of the principal amount of the Competitive Bid Loans allocated to the participating Lenders.) Each each Tranche B Lender if a Tranche B Advance shall make available its Loan or Loans, in funds immediately available in Chicago to the Administrative Agent at its address specified pursuant to Article X. XIII. The Administrative Agent will make the funds so received from the applicable Lenders available to the Borrower at the Administrative Agent's aforesaid address. No Interest Period may end after the Facility Termination Date and, unless the Lenders otherwise agree in writing, in no event may there be more than five (5) different Interest Periods for LIBOR Advances outstanding at any one time.
Appears in 1 contract
Samples: Credit Agreement (NGC Corp)
Method of Selecting Types and Interest Periods for New Advances. The Borrower shall select the Type of Advance and, in the case of each LIBOR Term SOFR Advance, the Interest Period applicable to each such Advance from time to timetime in accordance with this Section or Section 2.10, as applicable. The Borrower shall give the Administrative Agent irrevocable notice (a "“Borrowing Notice"”) in the form attached as Exhibit F and made a part hereof (i) not later than (i) 10:00 a.m. (Chicago A.M., Cleveland, Ohio time) at least one , on the Business Day before immediately preceding the Borrowing Date of each ABR Floating Rate Advance or Daily Simple SOFR Advance, and (ii) not later than 10:00 a.m. Cleveland, Ohio time, at least three (3) Business Days before the Borrowing Date for each LIBOR Term SOFR Advance, and (iii) 3:00 p.m. (Chicago time) on the Borrowing Date for each Swing Line Loan, specifyingwhich shall specify:
(i) the Borrowing Date, which shall be a Business Day, of such Advance,
(ii) the aggregate amount of such Advance,
(iii) the Type of Advance selected (which must be a ABR Advance for Swing Line Loans)selected, and
(iv) in the case of each LIBOR Term SOFR Advance, the Interest Period applicable thereto. Not later than noon (Chicago time) on each Borrowing Date (except for Swing Line Loans which shall be funded as soon as practical after the Borrowing Notice and Competitive Bid Loans at an Absolute Rate which shall be funded as soon as practical after notice to the Lenders of the principal amount of the Competitive Bid Loans allocated to the participating Lenders.) Each Lender required to make a Loan in connection with a requested Advance shall make available its Loan or Loans, in funds immediately available in Chicago Cleveland, Ohio to the Administrative Agent at its address specified pursuant to Article X. XIII on each Borrowing Date not later than noon (Cleveland, Ohio time). The Administrative Agent will make the funds so received from the Lenders available to the Borrower at the Administrative Agent's ’s aforesaid address. No Term SOFR Interest Period may end after the Facility Termination Date and, unless the Required Lenders otherwise agree in writing, in no event may there be more than five seven (57) different Interest Periods for LIBOR Term SOFR Advances outstanding at any one time.
Appears in 1 contract
Method of Selecting Types and Interest Periods for New Advances. The Borrower shall select the Type of Advance and, in the case of each LIBOR Advance, the LIBOR Interest Period applicable to each Advance from time to time. The Borrower shall give the Administrative Agent irrevocable notice (a "Borrowing Notice") (i) not later than (i) 10:00 a.m. (Chicago time) , at least one (1) Business Day before the Borrowing Date of each ABR Advance, CBR Advance and (ii) not later than 10:00 a.m. Chicago time, at least three (3) Business Days before the Borrowing Date for each LIBOR Advance, and (iii) 3:00 p.m. (Chicago time) on the Borrowing Date for each Swing Line Loan, specifying:
(ia) the Borrowing Date, which shall be a Business Day, of such Advance,
(iib) the aggregate amount of such Advance,
(iiic) the Type of Advance selected (which must be a ABR Advance for Swing Line Loans)selected, and
(ivd) in the case of each LIBOR Advance, the LIBOR Interest Period applicable thereto. Not later than noon (Chicago time) on each Borrowing Date (except for Swing Line Loans which shall be funded as soon as practical after the Borrowing Notice and Competitive Bid Loans at an Absolute Rate which shall be funded as soon as practical after notice to the Lenders of the principal amount of the Competitive Bid Loans allocated to the participating Lenders.) Each Date, each Lender shall make available its Loan or Loans, in funds immediately available in Chicago to the Administrative Agent at its address specified pursuant to Article X. ARTICLE XIV. The Lenders shall not be obligated to match fund their LIBOR Advances. The Administrative Agent will make the funds so received from the Lenders available to the Borrower at the Administrative Agent's aforesaid address. No LIBOR Interest Period may end after the Facility Termination Date and, unless all of the Lenders otherwise agree in writing, in no event may there be more than five (5) different LIBOR Interest Periods for LIBOR Advances outstanding at any one time.
Appears in 1 contract
Samples: Revolving Credit Agreement (Duke Weeks Realty Limited Partnership)
Method of Selecting Types and Interest Periods for New Advances. The For each Advance under Facility A (other than any Swing Line Loan), the Borrower shall select the Type of Advance and, in the case of each LIBOR Advance, the Interest Period applicable to each Advance thereto from time to time. The Borrower shall give the Administrative Agent irrevocable notice (a "Borrowing NoticeFacility A Advance Request") of each Advance under Facility A (other than any Swing Line Loan) not later than (ix) in the case of a Base Rate Advance, noon (Chicago time) on the borrowing date of such Base Rate Advance and (y) in the case of a LIBOR Advance, 10:00 a.m. (Chicago time) at least one Business Day before the Borrowing Date of each ABR Advance, (ii) three Business Days before the Borrowing Date for each borrowing date of such LIBOR Advance, and (iii) 3:00 p.m. (Chicago time) on the Borrowing Date for each Swing Line Loan, specifying. Each Facility A Advance Request shall specify:
(i) that it is a request for an Advance under Facility A,
(ii) the Borrowing Dateborrowing date, which shall be a Business Day, of such Advancethe Advance requested thereby,
(iiiii) the aggregate amount of such Advance,
(iiiiv) the Type of Advance selected (which must be a ABR Advance for Swing Line Loans), and
(ivv) in the case of each LIBOR Advance, the Interest Period applicable thereto. Not later than noon 2:00 p.m. (Chicago time) on each Borrowing Date (except for Swing Line Loans which shall be funded as soon as practical after the Borrowing Notice and Competitive Bid Loans at an Absolute Rate which shall be funded as soon as practical after notice to the Lenders of the principal amount of the Competitive Bid Loans allocated to the participating Lenders.) Each Lender borrowing date under Facility A, each Facility A Bank shall make available its Revolving A Loan or Loans, Revolving A Loans in funds immediately available in Chicago to the Administrative Agent at its address specified pursuant to Article X. Section 10.5. The Administrative Agent will make the funds so received from the Lenders Banks available to the Borrower at the Administrative Agent's aforesaid address. No Interest Period may end after the Facility Termination Date and, unless the Lenders otherwise agree in writing, in no event may there be more than five (5) different Interest Periods for LIBOR Advances outstanding at any one time.
Appears in 1 contract
Method of Selecting Types and Interest Periods for New Advances. The Borrower shall select the Type of Advance and, in the case of each LIBOR Advance, the Interest Period applicable to each Advance from time to time. The Borrower shall give the Administrative Agent irrevocable notice (a "“Borrowing Notice"”) (i) not later than (i) 10:00 a.m. (Chicago time) , at least one (1) Business Day before the Borrowing Date of each ABR Advance, (ii) not later than 10:00 a.m. Chicago time, at least three (3) Business Days before the Borrowing Date for each LIBOR Advance, and (iii) 3:00 p.m. (not later than 11:00 a.m. Chicago time) time on the Borrowing Date for each Swing Line Loan, specifying:
(ia) the Borrowing Date, which shall be a Business Day, of such Advance,
(iib) the aggregate amount of such Advance,
(iiic) the Class of such Advance,
(d) the Type of Advance selected (which must be a ABR Advance for in the case of the Swing Line Loans), and
(ive) in the case of each LIBOR Advance, the Interest Period applicable thereto. Not later than noon (Chicago time) on each Borrowing Date (except for Swing Line Loans which shall be funded as soon as practical after the Borrowing Notice and Competitive Bid Loans at an Absolute Rate which shall be funded as soon as practical after notice to the Lenders of the principal amount of the Competitive Bid Loans allocated to the participating Lenders.) Each Date, each applicable Lender shall make available its Loan or Loans, in funds immediately available in Chicago to the Administrative Agent at its address specified pursuant to Article X. XIV. The applicable Lenders shall not be obligated to match fund their LIBOR Advances. The Administrative Agent will make the funds so received from the Lenders available to the Borrower at the Administrative Agent's aforesaid addressBorrower. No Interest Period may end after the Facility applicable Termination Date and, unless all of the applicable Lenders otherwise agree in writing, in no event may there be more than five seven (57) different Interest Periods for LIBOR Advances (other than Competitive Bid Loans) outstanding at any one timetime for any Class of Advance.
Appears in 1 contract
Samples: Revolving Credit and Term Loan Agreement (Duke Realty Limited Partnership/)
Method of Selecting Types and Interest Periods for New Advances. The Borrower shall select the Type of Advance and, in the case of each LIBOR Advance, the Interest Period applicable to each Advance from time to time. The Borrower shall give the Administrative Agent irrevocable notice (a "“Borrowing Notice"”) (i) not later than (i) 10:00 a.m. (Chicago time) , at least one (1) Business Day before the Borrowing Date of each ABR Advance, (ii) not later than 10:00 a.m. Chicago time, at least three (3) Business Days before the Borrowing Date for each LIBOR Advance, and (iii) 3:00 p.m. (not later than 11:00 a.m. Chicago time) time on the Borrowing Date for each Swing Line Loan, specifying:
(ia) the Borrowing Date, which shall be a Business Day, of such Advance,
(iib) the aggregate amount of such Advance,
(iiic) the Type of Advance selected (which must be a ABR Advance for in the case of the Swing Line Loans), and
(ivd) in the case of each LIBOR Advance, the Interest Period applicable thereto. Not later than noon (Chicago time) on each Borrowing Date (except for Swing Line Loans which shall be funded as soon as practical after the Borrowing Notice and Competitive Bid Loans at an Absolute Rate which shall be funded as soon as practical after notice to the Lenders of the principal amount of the Competitive Bid Loans allocated to the participating Lenders.) Each Date, each Lender shall make available its Loan or Loans, in funds immediately available in Chicago to the Administrative Agent at its address specified pursuant to Article X. XIV. The Lenders shall not be obligated to match fund their LIBOR Advances. The Administrative Agent will make the funds so received from the Lenders available to the Borrower at the Administrative Agent's aforesaid addressBorrower. No Interest Period may end after the Facility Termination Date and, unless all of the Lenders otherwise agree in writing, in no event may there be more than five seven (57) different Interest Periods for LIBOR Advances (other than Competitive Bid Loans) outstanding at any one time.
Appears in 1 contract
Method of Selecting Types and Interest Periods for New Advances. The Borrower shall select the Type of Advance and, in the case of each LIBOR Fixed Rate Advance, the Interest Period applicable to each Advance from time to time. The Borrower shall give the Administrative Agent irrevocable notice (a "“Borrowing Notice"”) (i) not later than (i) 10:00 8:00 a.m. (Chicago time) at least one Business Day before time on the Borrowing Date of each ABR Floating Rate Advance, (ii) not later than 10:00 a.m. Chicago time, at least three (3) Business Days before the Borrowing Date for each LIBOR Advance, and (iii) 3:00 not later than 2:00 p.m. (Chicago time) time on the Borrowing Date for each Swing Line Swingline Loan, specifying:
(i) the Borrowing Date, which shall be a Business Day, of such Advance,
(ii) the aggregate amount of such Advance,
(iii) the Type of Advance selected (which must be a ABR Floating Rate Advance for Swing Line in the case of the Swingline Loans), and
(iv) in the case of each LIBOR Fixed Rate Advance, the Interest Period applicable thereto. Not The Administrative Agent shall provide a copy to the Lenders by facsimile of each Borrowing Notice and each Conversion/Continuation Notice not later than noon the close of business on the Business Day it is received (except for a Borrowing Notice for a Floating Rate Advance on the same day, Administrative Agent shall provide the notice to the other Lenders by 9:00 a.m. (Chicago time) on each Borrowing Date (except for Swing Line Loans which shall be funded as soon as practical after the Borrowing Notice and Competitive Bid Loans at an Absolute Rate which shall be funded as soon as practical after notice to the Lenders of the principal amount of the Competitive Bid Loans allocated to the participating Lenders.) such day). Each Lender shall make available its Loan or Loans, in funds immediately available in Chicago to the Administrative Agent at its address specified pursuant to Article X. XIII on each Borrowing Date not later than (i) 10:00 a.m. (Chicago time), in the case of Floating Rate Advances which have been requested by a Borrowing Notice given to the Administrative Agent not later than 3:00 p.m. (Chicago time) on the Business Day immediately preceding such Borrowing Date, or (ii) noon (Chicago time) in the case of all other Advances (other than Swingline Loans), and 4:00 p.m. (Chicago time) for all Swingline Loans. The Administrative Agent will make the funds so received from the Lenders available to the Borrower at the Administrative Agent's ’s aforesaid address. No Interest Period may end after the Facility Termination Date and, unless the Lenders otherwise agree in writing, in no event may there be more than five ten (510) different Interest Periods for LIBOR Advances outstanding at any one time.
Appears in 1 contract
Samples: Credit Agreement (Developers Diversified Realty Corp)
Method of Selecting Types and Interest Periods for New Advances. The Borrower shall select the Type of Advance and, in the case of each LIBOR Advance, the Interest Period applicable to each Advance from time to time. The Borrower shall give the Administrative Agent irrevocable notice (a "Borrowing Notice") not later than (i) 10:00 a.m. (Chicago time) at least one Business Day before the Borrowing Date of each ABR CBR Advance, (ii) three Business Days before the Borrowing Date for each LIBOR Advance, and (iii) 3:00 p.m. (Chicago time) on the Borrowing Date for each Swing Line Loan, specifying:
(i) the Borrowing Date, which shall be a Business Day, of such Advance,
(ii) the aggregate amount of such Advance,
(iii) the Type of Advance selected (which must be a ABR CBR Advance for Swing Line Loans), and
(iv) in the case of each LIBOR Advance, the Interest Period applicable thereto. Not later than noon (Chicago time) on each Borrowing Date (except for Swing Line Loans which shall be funded as soon as practical after the Borrowing Notice and Competitive Bid Loans at an Absolute Rate which shall be funded as soon as practical after notice to the Lenders of the principal amount of the Competitive Bid Loans allocated to the participating Lenders.) Each Notice), each Lender shall make available its Loan or Loans, in funds immediately available in Chicago to the Administrative Agent at its address specified pursuant to Article X. IX. The Administrative Agent will make the funds so received from the Lenders available to the Borrower at the Administrative Agent's aforesaid address. No Interest Period may end after the Facility Termination Date and, unless the Lenders otherwise agree in writing, in no event may there be more than five (5) different Interest Periods for LIBOR Advances outstanding at any one time.
Appears in 1 contract
Samples: Unsecured Revolving Credit Agreement (Susa Partnership Lp)
Method of Selecting Types and Interest Periods for New Advances. The Borrower shall select the Type of Advance and, in the case of each LIBOR Advance, the Interest Period applicable to each Advance from time to time. The Borrower shall give the Administrative Agent irrevocable notice (a "“Borrowing Notice"”) in the form of Exhibit D not later than (ia) 10:00 a.m. 11:00 a.m., New York time, on the Borrowing Date of each ABR Advance (Chicago except a Swing Line Advance), (b) 1:00 p.m., New York time, three (3) at least one Business Day Days before the Borrowing Date of each ABR Advance, (ii) three Business Days before the Borrowing Date for each LIBOR Advance, and (iiic) 3:00 p.m. (Chicago p.m., New York time) , on the Borrowing Date for of each Swing Line LoanAdvance, specifying:
(i) the Borrowing Date, which shall be a Business Day, of such Advance,
(ii) whether the Advance is a Swing Line Advance,
(iii) the aggregate amount of such Advance,
(iiiiv) except in the case of a Swing Line Advance, the Type of Advance selected selected; provided, however, that the aggregate number of LIBOR Advances outstanding at any one time shall not exceed five (which must be a ABR Advance for Swing Line Loans5), and
(ivv) in the case of each LIBOR Advance, the Interest Period applicable thereto. Not later than noon (Chicago 1:00 p.m., New York time) , on each Borrowing Date (except for Swing Line Loans which shall be funded as soon as practical after the Borrowing Notice and Competitive Bid Loans at an Absolute Rate which shall be funded as soon as practical after notice to the Lenders of the principal amount of the Competitive Bid Loans allocated to the participating Lenders.) Each Date, each Lender shall make available its Loan or Loans, in funds immediately available in Chicago to the Administrative Agent at its address specified pursuant to Article X. The XVI. Administrative Agent will make the funds so received from the Lenders available to the applicable Borrower at the Administrative Agent's ’s aforesaid address. No Disbursements of Advances (other than Swing Line Advances) may be made not more frequently than one time per Business Day. Disbursements of all Swing Line Advances to Borrower may be made not more frequently than one time per Business Day, or on a more frequent basis as Swing Line Lender may agree. Interest Period may end after on all Advances shall be calculated on the Facility Termination Date andbasis of a 360-day year, unless based on the Lenders otherwise agree in writing, in no event may there be more than five (5) different Interest Periods for LIBOR Advances outstanding at any one timeactual days elapsed.
Appears in 1 contract
Samples: Credit Agreement (MDC Holdings Inc)
Method of Selecting Types and Interest Periods for New Advances. The Borrower shall select the Type of Advance and, in the case of each LIBOR Advance, the LIBOR Interest Period applicable to each Advance from time to time. The Borrower shall give the Administrative Agent irrevocable notice (a "“Borrowing Notice"”) (i) not later than (i) 10:00 a.m. (Chicago time) , at least one (1) Business Day before the Borrowing Date of each ABR Advance, Prime Advance and (ii) not later than 10:00 a.m. Chicago time, at least three (3) Business Days before the Borrowing Date for each LIBOR Advance, and (iii) 3:00 p.m. (Chicago time) on the Borrowing Date for each Swing Line Loan, specifying:
(ia) the Borrowing Date, which shall be a Business Day, of such Advance,
(iib) the aggregate amount of such Advance,
(iiic) the Type of Advance selected (which must be a ABR Advance for Swing Line Loans)selected, and
(ivd) in the case of each LIBOR Advance, the LIBOR Interest Period applicable thereto. Not later than noon (Chicago time) on each Borrowing Date (except for Swing Line Loans which shall be funded as soon as practical after the Borrowing Notice and Competitive Bid Loans at an Absolute Rate which shall be funded as soon as practical after notice to the Lenders of the principal amount of the Competitive Bid Loans allocated to the participating Lenders.) Each Date, each Lender shall make available its Loan or Loans, in funds immediately available in Chicago to the Administrative Agent at its address specified pursuant to Article X. XIV. The Lenders shall not be obligated to match fund their LIBOR Advances. The Administrative Agent will make the funds so received from the Lenders available to the Borrower at the Administrative Agent's ’s aforesaid address. No LIBOR Interest Period may end after the Facility Termination Date and, unless all of the Lenders otherwise agree in writing, in no event may there be more than five seven (57) different LIBOR Interest Periods for LIBOR Advances outstanding at any one time.
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