Common use of Notice of Acquisition Loan Borrowings Clause in Contracts

Notice of Acquisition Loan Borrowings. (a) In order to obtain an Acquisition Loan, the Company shall make an irrevocable written request therefor (or irrevocable telephone notice thereof, confirmed as soon as practicable by written request) to the Agent, in the form of a Request for Borrowing (i) in the case of an ABR Borrowing, not later than 11:00 A.M., HOUSTON, TEXAS TIME, one (1) Business Day before the Borrowing Date of a proposed Acquisition Loan Borrowing, and (ii) in the case of a Eurodollar Borrowing, not later than 11:00 A.M., HOUSTON, TEXAS TIME, three (3) Business Days before the Borrowing Date of a proposed Acquisition Loan Borrowing. Each Request for Loan Borrowing shall be irrevocable and shall in each case refer to this Agreement and specify (1) whether the Request for Borrowing then being requested is to be an ABR Borrowing or a Eurodollar Borrowing, (2) the Borrowing Date of such Acquisition Loan Borrowing (which shall be a Business Day) and (3) the aggregate amount thereof (which shall not be less than One Million Dollars ($1,000,000) or an integral multiple of One Million Dollars ($1,000,000) in excess thereof), and (4) the Interest Period or Interest Periods with respect thereto. If no election as to the Type of Acquisition Loan Borrowing is specified in any such Request for Borrowing by the Company, such Acquisition Loan Borrowing shall be an ABR Borrowing. If no Interest Period with respect to any Borrowing is specified in any such Request for Borrowing, the Company shall be deemed to have selected an Interest Period of one (1) month's duration. The Agent shall promptly advise the Lenders of any Request for Borrowing given by the Company pursuant to this Section 3.3 and of each Lender's portion of the requested Acquisition Loan Borrowing. (b) No more than eight (8) Acquisition Loans may be outstanding at any time. For purposes of the foregoing, Borrowings comprised of Acquisition Loans having different Interest Periods, regardless of whether they commence on the same date, shall be considered separate Borrowings.

Appears in 1 contract

Samples: Revolving Credit Agreement (Group 1 Automotive Inc)

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Notice of Acquisition Loan Borrowings. (a) In order to obtain an Acquisition Loan, the Company shall make an irrevocable written request therefor (or irrevocable telephone notice thereof, confirmed as soon as practicable by written request) to the Agent, in the form of a Request for Borrowing (i) in the case of an ABR Borrowing, not later than 11:00 A.M., HOUSTON, TEXAS TIME, one (1) Business Day before the Borrowing Date of a proposed Acquisition Loan Borrowing, and (ii) in the case of a Eurodollar THIRD AMENDED AND RESTATED REVOLVING CREDIT AGREEMENT 39 41 Borrowing, not later than 11:00 A.M., HOUSTON, TEXAS TIME, three (3) Business Days before the Borrowing Date of a proposed Acquisition Loan Borrowing. Each Request for Loan Borrowing shall be irrevocable and shall in each case refer to this Agreement and specify (1) whether the Request for Borrowing then being requested is to be an ABR Borrowing or a Eurodollar Borrowing, (2) the Borrowing Date of such Acquisition Loan Borrowing (which shall be a Business Day) and (3) the aggregate amount thereof (which shall not be less than One Million Dollars ($1,000,000) or an integral multiple of One Million Dollars ($1,000,000) in excess thereof), and (4) the Interest Period or Interest Periods with respect thereto. If no election as to the Type of Acquisition Loan Borrowing is specified in any such Request for Borrowing by the Company, such Acquisition Loan Borrowing shall be an ABR Borrowing. If no Interest Period with respect to any Borrowing is specified in any such Request for Borrowing, the Company shall be deemed to have selected an Interest Period of one (1) month's duration. The Agent shall promptly advise the Lenders Banks of any Request for Borrowing given by the Company pursuant to this Section 3.3 and of each LenderBank's portion of the requested Acquisition Loan Borrowing. (b) No more than eight (8) Acquisition Loans may be outstanding at any time. For purposes of the foregoing, Borrowings comprised of Acquisition Loans having different Interest Periods, regardless of whether they commence on the same date, shall be considered separate Borrowings.

Appears in 1 contract

Samples: Revolving Credit Agreement (Group 1 Automotive Inc)

Notice of Acquisition Loan Borrowings. (a) In order to obtain an Acquisition Loan, the Company shall make an irrevocable written request therefor (or irrevocable telephone notice thereof, confirmed as soon as practicable by written request) to the Agent, in the form of a Request for Borrowing (i) in the case of an ABR Borrowing, not later than 11:00 A.M., HOUSTON, TEXAS TIME, one (1) Business Day before the Borrowing Date of a proposed Acquisition Loan Borrowing, and (ii) in the case of a Eurodollar Borrowing, not later than 11:00 A.M., HOUSTON, TEXAS TIME, three (3) Business Days before the Borrowing Date of a proposed Acquisition Loan Borrowing. Each Request for Loan Borrowing shall be irrevocable and shall in each case refer to this Agreement and specify (1) whether the Request for Borrowing then being requested is to be an ABR Borrowing or a Eurodollar Borrowing, (2) the Borrowing Date of such Acquisition Loan Borrowing (which shall be a Business Day) and (3) the aggregate amount thereof (which shall not be less than One Million Dollars ($1,000,000) or an integral multiple of One Million Dollars ($1,000,000) in excess thereof), and (4) the Interest Period or Interest Periods with respect thereto. If no election as to the Type of Acquisition Loan Borrowing is specified in any such Request for Borrowing by the Company, such Acquisition Loan Borrowing shall be an ABR Borrowing. If no Interest Period with respect to any Borrowing is specified in any such Request for Borrowing, the Company shall be deemed to have selected an Interest Period of one (1) month's duration. The Agent shall promptly advise the Lenders Banks of any Request for Borrowing given by the Company pursuant to this Section 3.3 and of each LenderBank's portion of the requested Acquisition Loan Borrowing. (b) No more than eight (8) Acquisition Loans may be outstanding at any time. For purposes of the foregoing, Borrowings comprised of Acquisition Loans having different Interest Periods, regardless of whether they commence on the same date, shall be considered separate Borrowings.

Appears in 1 contract

Samples: Revolving Credit Agreement (Group 1 Automotive Inc)

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Notice of Acquisition Loan Borrowings. (a) In order to obtain an Acquisition Loan, the Company shall make an irrevocable written request therefor (or irrevocable telephone notice thereof, confirmed as soon as practicable by written request) to the Agent, in the form of a Request for Borrowing (i) in the case of an ABR Borrowing, not later than 11:00 A.M.a.m., HOUSTONHouston, TEXAS TIMETexas time, one (1) Business Day before the Borrowing Date of a proposed Acquisition Loan Borrowing, and (ii) in the case of a Eurodollar Borrowing, not later than 11:00 A.M.a.m., HOUSTONHouston, TEXAS TIMETexas time, three (3) Business Days before the Borrowing Date of a proposed Acquisition Loan Borrowing. Each Request for Loan Borrowing shall be irrevocable and shall in each case refer to this Agreement and specify (1) whether the Request for Borrowing Loan then being requested is to be an ABR Borrowing or a Eurodollar Borrowing, (2) the Borrowing Date of such Acquisition Loan Borrowing (which shall be a Business Day) and (3) the aggregate amount thereof (which shall not be less than One Million Dollars ($1,000,000) or an integral multiple of One Million Dollars ($1,000,000) in excess thereof), and (4) if a Eurodollar Loan is being requested, the Interest Period or Interest Periods with respect thereto. If no election as to the Type of Acquisition Loan Borrowing is specified in any such Request for Borrowing by the Companyspecified, such Acquisition Loan Borrowing shall be an ABR Borrowing. If no Interest Period with respect to any Borrowing is specified in any such Request for Borrowingspecified, the Company shall be deemed to have selected an Interest Period of one (1) month's duration. The Agent shall promptly advise the Lenders of any Request for Borrowing given by the Company pursuant to this Section 3.3 and of each Lender's portion of the requested Acquisition Loan Borrowing. (b) No more than eight (8) Acquisition Loans may be outstanding at any time. For purposes of the foregoing, Borrowings comprised of Acquisition Loans having different Interest Periods, regardless of whether they commence on the same date, shall be considered separate Borrowings.

Appears in 1 contract

Samples: Revolving Credit Agreement (Group 1 Automotive Inc)

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