Common use of Notice and Disbursement Clause in Contracts

Notice and Disbursement. The Administrative Agent shall promptly ----------------------- notify the Lenders of each notice (other than with respect to a Swing Line Advance) received from the Borrower pursuant to this Section. Each Lender shall, not later than 2:00 p.m., Dallas, Texas time, on the date of any Advance, deliver to the Administrative Agent, at its address set forth herein, such Lender's Specified Percentage of such Advance in immediately available funds in accordance with the Administrative Agent's instructions. Prior to 2:30 p.m., Dallas, Texas time, on the date of any Advance hereunder, the Administrative Agent shall, subject to satisfaction of the conditions set forth in Article 3, --------- disburse the amounts made available to the Administrative Agent by the Lenders by (i) transferring such amounts by wire transfer pursuant to the Borrower's instructions, or (ii) in the absence of such instructions, crediting such amounts to the account of the Borrower maintained with the Administrative Agent. All Revolving Credit Advances shall be made by each Lender according to its Revolving Credit Specified Percentage. All Facility A Term Loan Advances shall be made by each Lender in accordance with its Facility A Term Loan Specified Percentage. All Facility B Term Loan Advances shall be made by each Lender in accordance with its Facility B Term Loan Specified Percentage. Upon the request of any Lender, the Administrative Agent shall notify such Lender of the aggregate principal amount of Swing Line Advances outstanding at such time.

Appears in 1 contract

Samples: Credit Agreement (Doskocil Manufacturing Co Inc)

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Notice and Disbursement. The Administrative Agent shall promptly ----------------------- notify the Lenders of each notice (other than with respect to a Swing Line Advance) received from the Borrower pursuant to this Section. Each Lender shall, not later than 2:00 p.m.noon, Dallas, Texas time, on the date of any Advance, deliver to the Administrative Agent, at its address set forth herein, such Lender's Revolving Credit Specified Percentage, Facility A Term Loan Specified Percentage and Facility B Term Loan Specified Percentage, as the case may be, of such Advance in immediately available funds in accordance with the Administrative Agent's instructions. Prior to 2:30 2:00 p.m., Dallas, Texas time, on the date of any Advance hereunder, the Administrative Agent shall, subject to satisfaction of the conditions set forth in Article 3, --------- disburse the amounts made available to the Administrative Agent by the Lenders by (i) transferring such amounts by wire transfer pursuant to the Borrower's instructions, or (ii) in the absence of such instructions, crediting such amounts to the account of the Borrower maintained with the Administrative Agent. All Revolving Credit Advances shall be made by each Lender according to its Revolving Credit Specified Percentage. All Facility A Term Loan Advances shall be made by each Lender in accordance with according to its Facility A Term Loan Specified Percentage. All Facility B Term Loan Advances shall be made by each Lender in accordance with its Facility B Term Loan Specified Percentage. Upon the request of any Lender, the Administrative Agent shall notify such Lender of the aggregate principal amount of Swing Line Advances outstanding at such time.

Appears in 1 contract

Samples: Credit Agreement (Homco Puerto Rico Inc)

Notice and Disbursement. The Administrative Agent shall promptly ----------------------- notify the Lenders of each notice (other than with respect to a Swing Line Advance) received from the Borrower Authorized Signatory pursuant to this Section. Failure of the Authorized Signatory to give any notice in accordance with SECTION 2.2(c) hereof shall result in a repayment of any such existing LIBOR Advance on the applicable Payment Date by an Advance which is a Base Rate Advance. Each Lender shall, not later than 2:00 12:30 p.m., Dallas, Texas time, on the date of any Advance that is not a Refinancing Advance, deliver to the Administrative Agent, at its address set forth herein, such Lender's Revolving Credit Specified Percentage, Facility A Term Loan Specified Percentage, Facility B Term Loan Specified Percentage or Facility C Term Loan Specified Percentage, as the case may be, of such Advance in immediately available funds in accordance with the Administrative Agent's instructions. Prior to 2:30 2:00 p.m., Dallas, Texas time, on the date of any Advance hereunder, the Administrative Agent shall, subject to satisfaction of the conditions set forth in Article ARTICLE 3, --------- disburse the amounts made available to the Administrative Agent by the Lenders by (i) transferring such amounts by wire transfer pursuant to the BorrowerAuthorized Signatory's instructions, or (ii) in the absence of such instructions, crediting such amounts to the joint account of the Borrower maintained with the Administrative Agent. All Revolving Credit Advances shall be made by each Lender according to its Revolving Credit Specified Percentage. All Facility A Term Loan Advances shall be made by each Lender in accordance with its Facility A Term Loan Specified Percentage. All Facility B Term Loan Advances shall be made by each Lender in accordance with its Facility B Term Loan Specified Percentage. Upon the request of any Lender, the Administrative Agent All Facility C Term Loan Advances shall notify such be made by each Lender of the aggregate principal amount of Swing Line Advances outstanding at such timein accordance with its Facility C Term Loan Specified Percentage.

Appears in 1 contract

Samples: Credit Agreement (Sun Healthcare Group Inc)

Notice and Disbursement. The Administrative Agent shall promptly ----------------------- notify the Lenders of each notice (other than with respect to a Swing Line Advance) received from the Borrower pursuant to this Section. Each Lender shall, not later than 2:00 p.m., Dallas, Texas time, on the date of any Advance, deliver to the Administrative Agent, at its address set forth herein, such Lender's Revolving Credit Specified Percentage, Facility A Term Loan Specified Percentage or Facility B Term Loan Specified Percentage, as the case may be, of such Advance in immediately available funds in accordance with the Administrative Agent's instructions. Prior to 2:30 p.m., Dallas, Texas time, on the date of any Advance hereunder, the Administrative Agent shall, subject to satisfaction of the conditions set forth in Article 3, --------- disburse the amounts made available to the Administrative Agent by the Lenders by (i) transferring such amounts by wire transfer pursuant to the Borrower's instructions, or (ii) in the absence of such instructions, crediting such amounts to the account of the Borrower maintained with the Administrative Agent. All Revolving Credit Advances shall be made by each Lender according to its Revolving Credit Specified Percentage. All Facility A Term Loan Advances shall be made by each Lender in accordance with according to its Facility A Term Loan Specified Percentage. All Facility B Term Loan Advances shall be made by each Lender in accordance with its Facility B Term Loan Specified Percentage. Upon the request of any Lender, the Administrative Agent shall notify such Lender of the aggregate principal amount of Swing Line Advances outstanding at such time.

Appears in 1 contract

Samples: Credit Agreement (Clubcorp Inc)

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Notice and Disbursement. The Administrative Agent shall promptly ----------------------- notify the Lenders of each notice (other than with respect to a Swing Line Advance) received from the Borrower pursuant to this Section. Each Lender shall, not later than 2:00 p.m., noon (Dallas, Texas time, ) on the date of any Advance, deliver to the Administrative Agent, at its address set forth herein, such Lender's Revolving Credit Specified Percentage, Facility A Term Loan Specified Percentage and Facility B Term Loan Specified Percentage, as the case may be, of such Advance in immediately available funds in accordance with the Administrative Agent's instructions. Prior to 2:30 p.m., 2:00 p.m. (Dallas, Texas time), on the date of any Advance hereunder, the Administrative Agent shall, subject to satisfaction of the conditions set forth in Article 3, --------- disburse the amounts made available to the Administrative Agent by the Lenders by (i) transferring such amounts by wire transfer pursuant to the Borrower's instructions, or (ii) in the absence of such instructions, crediting such amounts to the account of the Borrower maintained with the Administrative Agent. All Revolving Credit Advances shall be made by each Lender according to its Revolving Credit Specified Percentage. All Facility A Term Loan Advances shall be made by each Lender in accordance with according to its Facility A Term Loan Specified Percentage. All Facility B Term Loan Advances shall be made by each Lender in accordance with its Facility B Term Loan Specified Percentage. Upon Swing Line Advances. The Swing Line Bank shall, not later than 2:00 p.m. (Dallas, Texas time), on the request date of any LenderSwing Line Advance, deliver to the Administrative Agent at its address set forth herein, the amount of such Swing Line Advance in immediately available funds in accordance with the Administrative Agent's instructions. Prior to 2:30 p.m. (Dallas, Texas time), on the date of any Swing Line Advance, the Administrative Agent shall, subject to the conditions set forth in Article 3, disburse the amount made available to the Administrative Agent by the Swing Line Bank by (i) transferring such amounts by wire transfer pursuant to the Borrower's instruction or (ii) in the absence of such instructions, crediting such amounts to the account of the Borrower maintained with the Administrative Agent. Forthwith upon demand by the Swing Line Bank at any time, including after a Default or Event of Default, and in any event upon the making of the direction specified by Section 8.2 to authorize the Administrative Agent to declare the Advances due and payable pursuant to the provisions of Section 8.2, each Lender, including the Swing Line Bank, notwithstanding the failure of the Borrower at such time to satisfy each condition specified in Article 3, shall notify make by 12:00 noon (Dallas, Texas time) on the first Business Day following receipt by such Lender of notice from the Swing Line Bank, a Revolving Credit Advance which is a Base Rate Advance in an amount equal to the product of (i) the Revolving Credit Specified Percentage of such Lender times (ii) the aggregate outstanding principal amount of the Swing Line Advances. The proceeds of such Revolving Credit Advances shall be applied by the Administrative Agent to repay the outstanding at such timeSwing Line Advances. INTEREST. On Base Rate Advances.

Appears in 1 contract

Samples: Credit Agreement (Home Interiors & Gifts Inc)

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