Common use of Notice of Borrowing; Making of Loans Clause in Contracts

Notice of Borrowing; Making of Loans. (a) Whenever the Company desires to borrow, the Designated Borrowing Officer shall provide telephonic notice of a proposed borrowing or written notice of such proposed borrowing (a "NOTICE OF BORROWING") to the Agent not later than 12:00 noon (New York City time) at least one (1) Business Day before the date of such proposed borrowing. The Notice of Borrowing shall set forth (i) the date, which shall be a Business Day, on which such borrowing is to occur and (ii) the principal amount of the Loan being borrowed. If requested by the Agent, any such telephonic notice shall be confirmed by the Designated Borrowing Officer in writing by delivery to the Agent on or before the close of business on the date on which such Loan is to be made (but prior to such Loan being made) of a notice containing the original or facsimile signature of the Designated Borrowing Officer. The Agent shall provide each Purchaser with prompt notice of each Notice of Borrowing. Except as otherwise provided in subsection 2.3(e), on the date specified in such notice, each Purchaser shall, subject to the terms and conditions of this Agreement, fund its Note Percentage of such Loan in immediately available funds by wire transfer to the Agent at its Office not later than 1:30 p.m. (New York City time). Unless the Agent determines that any applicable conditions in Section 4.2 have not been satisfied, the Agent shall make the funds so received from the Purchasers available to the Company not later than 2:30 p.m. (New York City time) on the date specified in such notice in immediately available funds by depositing such proceeds in the Disbursement Account.

Appears in 1 contract

Samples: Note Purchase Agreement (Planet Hollywood International Inc)

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Notice of Borrowing; Making of Loans. (a) Whenever the Company Borrower desires to borrow, the Designated Borrowing Officer Borrower shall provide telephonic notice of a proposed borrowing or written notice to the Agent of such proposed borrowing (a "NOTICE OF BORROWINGNotice of Borrowing"), each such notice to be given (i) to the Agent not later than 12:00 noon (New York City time) at least one on the date of such proposed borrowing, in the case of a borrowing consisting of Reference Loans, or (1ii) not later than 12:00 noon (New York City time) on the third Business Day before the date of such proposed borrowing. The Notice , in the case of Borrowing shall set forth a borrowing consisting of Eurodollar Loans, setting forth: (ia) the date, which shall be a Business Day, on which such borrowing is to occur and occur, (iib) whether such Loan is requested to be a Reference Loan or a Eurodollar Loan and, if a Eurodollar Loan, the Interest Period requested with respect thereto, (c) the principal amount of the Loan being borrowed, and (d) the account information where such Loan is to be received. If Such notice shall be given by telephone or in writing, by a Designated Borrowing Officer; provided that, if requested by the Agent, any such telephonic notice shall be confirmed by the Designated Borrowing Officer in writing by delivery to the Agent promptly on or before the close of business on the date on which such Loan is to be made (but prior to such Loan being made) of ), a notice containing the original or facsimile signature of the a Designated Borrowing Officer. The Except for a Notice of Borrowing when the Agent will fund the related Loan pursuant to Section 2.03(e) hereof, the Agent shall provide each Purchaser Lender with prompt notice of each Notice of Borrowing. Except as otherwise provided in subsection 2.3(e), on the date specified in such notice, each Purchaser shall, subject to the terms and conditions of this Agreement, fund its Note Percentage of such Loan in immediately available funds by wire transfer to the Agent at its Office not later than 1:30 p.m. (New York City time). Unless the Agent determines that any applicable conditions in Section 4.2 have not been satisfied, the Agent shall make the funds so received from the Purchasers available to the Company not later than 2:30 p.m. (New York City time) on the date specified in such notice in immediately available funds by depositing such proceeds in the Disbursement Account.in

Appears in 1 contract

Samples: Credit Agreement (Weiners Stores Inc)

Notice of Borrowing; Making of Loans. (a) Whenever the a Company desires to borrow, the Designated Borrowing Officer Administrative Company shall provide telephonic notice of submit a Loan Request to the Administrative Agent with respect to such proposed borrowing or written notice borrowing, each such request, to be given not later than 10:00 a.m. (New York City time) on the date of such proposed borrowing (in the case of a "NOTICE OF BORROWING") to the Agent Prime Loan and not later than 12:00 noon (New York City time) at least one (1) on the third Business Day before the date of such proposed borrowing. The Notice borrowing in the case of Borrowing shall set forth a Eurodollar Loan, setting forth: (i) the Company receiving the proceeds of such Loan, (ii) the date, which shall be a Business Day, on which such borrowing is to occur and occur, (iiiii) whether such Loan is requested to be a Prime Loan or a Eurodollar Loan and, if a Eurodollar Loan, the Interest Period with respect thereto, (iv) the principal amount of the Loan being borrowedborrowed and, if the proceeds of such Loan are to be used to originate or purchase Mortgage Loans, whether or not such Loan is a Wet Loan, and (v) the other information required by Sections 4.03, 4.04 and 4.05, as applicable. If requested by the Agentproceeds of the Loan are to be used to originate or purchase Mortgage Loans, any such telephonic notice the Loan Request shall also have attached a Mortgage Loan Schedule identifying the Mortgage Loans the applicable Company proposes to pledge to the Administrative Agent and to include in the Borrowing Base. Such Loan Request shall be confirmed by the Designated Borrowing Officer given in writing by delivery to a Designated Borrowing Officer, substantially in the Agent on or before the close form of business on the date on which such Loan is to be made (but prior to such Loan being made) of a notice Exhibit B hereto, containing the original or facsimile signature of the a Designated Borrowing Officer. The Except for a Loan Request when the Administrative Agent will fund the related Loan pursuant to Section 2.03(e) hereof, the Administrative Agent shall provide each Purchaser Lender with prompt notice of each Notice of BorrowingLoan Request. Except as otherwise provided in subsection 2.3(eSection 2.03(e), on the date specified in such noticerequest, each Purchaser Lender shall, subject to the terms and conditions of this Agreement, fund make its Note Percentage Pro Rata Share of such Loan in immediately available funds by wire transfer to the Administrative Agent at its Office not later than 1:30 p.m. 11:00 a.m. (New York City time). Unless (A) the Administrative Agent determines that any applicable conditions in Section 4.2 Article IV have not been satisfiedsatisfied or (B) other than in the case of Wet Loans, the applicable Company fails to deliver the applicable Required Documents and any other certificates or documents to the Custodian before the date of the proposed borrowing as required under this Agreement and the Custodian Agreement, the Administrative Agent shall make the funds so received from the Purchasers Lenders available to the such Company not later than 2:30 3:00 p.m. (New York City time) ), on the date specified in such notice Loan Request in immediately available funds by depositing such proceeds in the Disbursement Accountinitiating a wire transfer.

Appears in 1 contract

Samples: Pledge Agreement (Emergent Group Inc)

Notice of Borrowing; Making of Loans. (a) Whenever the Company Borrower desires to borrow, the Designated Borrowing Officer it shall provide telephonic notice of a proposed borrowing or written notice to the Agent of such proposed borrowing (a "NOTICE OF BORROWINGNotice of Borrowing") ), each such notice, to the Agent be given not later than 12:00 noon 10:00 a.m. (New York City time) at least one (1) Business Day before on the date of such proposed borrowing. The Notice of Borrowing shall set forth , setting forth: (i) the date, which shall be a Business Day, on which such borrowing is to occur and occur, (ii) the principal amount of the Loan being borrowed. If requested by , the Agentuse of proceeds of such Loan and, any if the proceeds of such telephonic notice shall Loan are to be confirmed by used to originate Mortgage Loans, whether or not such Loan is a Wet Loan, (iii) the Designated Borrowing Officer in writing by delivery to the Agent on or before the close of business on the date on which account information where such Loan is to be made received, which shall be either the Warehouse Account or the Operating Account, and (but prior iv) the other information required by Sections 5.03, 5.04, 5.05 and 5.07, as applicable. If the proceeds of the Loan are to such be used to originate or purchase Mortgage Loans, the Notice of Borrowing shall also have attached a Mortgage Loan being made) Schedule identifying the Mortgage Loans the Borrower proposes to pledge to the Agent and to include in the Borrowing Base. Such notice shall be given in writing by a Designated Borrowing Officer, substantially in the form of a notice Exhibit B hereto, containing the original or facsimile signature of the a Designated Borrowing Officer. The Except for a Notice of Borrowing when the Agent will fund the related Loan pursuant to Section 2.03(e) hereof, the Agent shall provide each Purchaser Lender with prompt notice of each Notice of Borrowing. Except as otherwise provided in subsection 2.3(eSection 2.03(e), on the date specified in such notice, each Purchaser Lender shall, subject to the terms and conditions of this Agreement, fund make its Note Percentage Pro Rata Share of such Loan in immediately available funds by wire transfer to the Agent at its Office not later than 1:30 p.m. 11:00 a.m. (New York City time). Unless (i) the Agent determines that any applicable conditions in Section 4.2 Article V have not been satisfiedsatisfied or (ii) the Borrower fails to deliver the applicable Collateral Documents and any other certificates or documents to the Custodian before the date of the proposed borrowing as required under this Agreement and the Custodian Agreement, the Agent shall make the funds so received from the Purchasers Lenders available to the Company Borrower not later than 2:30 p.m. 12:00 noon. (New York City time) ), on the date specified in such notice in immediately available funds by depositing such proceeds in the Disbursement Accountinitiating a wire transfer.

Appears in 1 contract

Samples: Credit and Security Agreement (Cityscape Financial Corp)

Notice of Borrowing; Making of Loans. (a) Whenever the Company Borrower desires to borrow, the Designated Borrowing Officer it shall provide telephonic notice of a proposed borrowing or written notice to the Agent of such proposed borrowing (a "NOTICE OF BORROWINGNotice of Borrowing"), each such notice, to be given (i) to the Agent not later than 12:00 noon (New York City time) at least one on the date of such proposed borrowing, in the case of a borrowing consisting of Reference Loans, or (1ii) not later than 12:00 noon (New York City time) on the third Business Day before the date of such proposed borrowing. The Notice , in the case of Borrowing shall set forth a borrowing consisting of Eurodollar Loans, setting forth: (ia) the date, which shall be a Business Day, on which such borrowing is to occur and occur, (iib) whether such Loan is requested to be a Reference Loan or a Eurodollar Loan and, if a Eurodollar Loan, the Interest Period requested with respect thereto, (c) the principal amount of the Loan being borrowed, and (d) the account information where such Loan is to be received. If Such notice shall be given by telephone or in writing by a Designated Borrowing Officer, provided that, if requested by the Agent, any such telephonic notice shall be confirmed by the Designated Borrowing Officer in writing by delivery to the Agent promptly on or before the close of business on the date on which such Loan is to be made (but prior to such Loan being made) of a notice containing the original or facsimile signature of the a Designated Borrowing Officer. The Except for a Notice of Borrowing when the Agent will fund the related Loan pursuant to Section 2.03(e) hereof, the Agent shall provide each Purchaser Lender with prompt notice of each Notice of Borrowing. Except as otherwise provided in subsection 2.3(eSection 2.03(e), on the date specified in such notice, each Purchaser Lender shall, subject to the terms and conditions of this Agreement, fund make its Note Percentage Pro Rata Share of such Loan in immediately available funds by wire transfer to the Agent at its Office not later than 1:30 12:30 p.m. (New York City time). Unless the Agent determines that any applicable conditions in Section 4.2 5.02 have not been satisfied, the Agent shall make the funds so received from the Purchasers Lenders available to the Company Borrower not later than 2:30 p.m. (New York City time) ), on the date specified in such notice in immediately available funds by (i) depositing such proceeds in the Disbursement AccountAccount if the Disbursement Account is located at the Bank and (ii) initiating a wire transfer if the Disbursement Account is not located at the Bank.

Appears in 1 contract

Samples: Revolving Credit Agreement (Weiners Stores Inc)

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Notice of Borrowing; Making of Loans. (a) The Borrowers shall not be permitted to borrow hereunder when available cash is in excess of $1,000,000. Whenever the Company desires Borrowers desire to borrow, the Designated Borrowing Officer shall provide telephonic notice of a proposed borrowing or written notice of such proposed borrowing (a "NOTICE OF BORROWINGNotice of Borrowing") shall be provided by the Designated Borrowing Officer to the Agent (i) not later than 12:00 noon (New York City time) at least one on the date of such proposed borrowing, in the case of a borrowing consisting of Prime Loans, or (1ii) not later than 12:00 noon (New York City time) on the third (3rd) Business Day before the date of such proposed borrowing, in the case of a borrowing consisting of Eurodollar Loans. The Notice of Borrowing shall set forth forth: (ia) the date, which shall be a Business Day, on which such borrowing is to occur and occur, (iib) whether such Loan is requested to be a Prime Loan or a Eurodollar Loan and, if a Eurodollar Loan, the Interest Period requested with respect thereto, (c) the principal amount of the Loan being borrowed, and (d) the account information where such Loan is to be received. If Such notice shall be given by telephone or in writing; provided, however, that, if requested by the Agent, any such telephonic notice shall be confirmed by the Designated Borrowing Officer in writing by delivery to the Agent on or before the close of business on the date on which such Loan is to be made (but prior to such Loan being made) of a notice containing the original or facsimile signature of the Designated Borrowing Officer. The Agent shall provide each Purchaser Lender with prompt notice of each Notice of Borrowing. Except as otherwise provided in subsection 2.3(e2.03(e), on the date specified in such notice, each Purchaser Lender shall, subject to the terms and conditions of this Agreement, fund make its Note Percentage Pro Rata Share of such Loan in immediately available funds by wire transfer to the Agent at its Office not later than 1:30 p.m. (New York City time). Unless the Agent determines that any applicable conditions in Section 4.2 6.02 have not been satisfied, the Agent shall make the funds so received from the Purchasers Lenders available to the Company Borrowers not later than 2:30 p.m. (New York City time) ), on the date specified in such notice in immediately available funds by (i) depositing such proceeds in the Disbursement AccountAccount if the Disbursement Account is located at the Bank, and (ii) initiating a wire transfer if the Disbursement Account is not located at the Bank.

Appears in 1 contract

Samples: Revolving Credit Agreement (Planet Hollywood International Inc)

Notice of Borrowing; Making of Loans. (a) Whenever the Company Borrower desires to borrow, the Designated Borrowing Officer it shall provide telephonic notice (in the form of a proposed borrowing or written notice Exhibit L attached hereto) to the Agent of such proposed borrowing (a "NOTICE OF BORROWINGNotice of Borrowing"), each such notice, to be given (i) to the Agent not later than 12:00 noon (New York City time) at least one on the date of such proposed borrowing, in the case of a borrowing consisting of Prime Loans, or (1ii) not later than 12:00 noon (New York City time) on the third Business Day before the date of such proposed borrowing. The Notice , in the case of Borrowing shall set forth a borrowing consisting of Eurodollar Loans, setting forth: (ia) the date, which shall be a Business Day, on which such borrowing is to occur and occur, (iib) whether such Loan is requested to be a Prime Loan or a Eurodollar Loan and, if a Eurodollar Loan, the Interest Period requested with respect thereto, (c) the principal amount of the Loan being borrowed, and (d) the account information where such Loan is to be received. If Such notice shall be given by telephone or in writing by a Designated Borrowing Officer, provided, that, if requested by the Agent, any such telephonic notice shall be confirmed by the Designated Borrowing Officer in writing by delivery to the Agent Agent, on or before the close of business on the date on which such Loan is to be made (but prior to such Loan being made) , of a written notice substantially in the form of Exhibit L hereto, containing the original or facsimile signature of the a Designated Borrowing Officer. The Except for a Notice of Borrowing when the Agent will fund the related Loan pursuant to Section 2.03(e) hereof, the Agent shall provide each Purchaser Lender with prompt notice of each Notice of Borrowing. Except as otherwise provided in subsection 2.3(eSection 2.03(e), on the date specified in such notice, each Purchaser Lender shall, subject to the terms and conditions of this Agreement, fund make its Note Percentage Pro Rata Share of such Loan in immediately available funds by wire transfer to the Agent at its Office not later than 1:30 p.m. (New York City Chicago, Illinois time). Unless the Agent determines that any applicable conditions in Section 4.2 5.02 have not been satisfied, the Agent shall make the funds so received from the Purchasers Lenders available to the Company Borrower not later than 2:30 p.m. (New York City Chicago, Illinois time) ), on the date specified in such notice in immediately available funds by (i) depositing such proceeds in the Disbursement AccountAccount if the Disbursement Account is located at the Bank and (ii) initiating a wire transfer if the Disbursement Account is not located at the Bank.

Appears in 1 contract

Samples: Revolving Credit Agreement (Jacobson Stores Inc)

Notice of Borrowing; Making of Loans. (a) Whenever the Company Borrower desires to borrow, the Designated Borrowing Officer it shall provide telephonic notice of a proposed borrowing or written notice to the Agent of such proposed borrowing (a "NOTICE OF BORROWINGNotice of Borrowing"), each such notice, to be given (i) to the Agent not later than 12:00 noon (New York City time) at least one on the date of such proposed borrowing, in the case of a borrowing consisting of Prime Loans, or (1ii) not later than 12:00 noon (New York City time) on the third Business Day before the date of such proposed borrowing. The Notice , in the case of Borrowing shall set forth a borrowing consisting of Eurodollar Loans, setting forth: (ia) the date, which shall be a Business Day, on which such borrowing is to occur and occur, (iib) whether such Loan is requested to be a Prime Loan or a Eurodollar Loan and, if a Eurodollar Loan, the Interest Period requested with respect thereto, (c) the principal amount of the Loan being borrowed, and (d) the account information where such Loan is to be received. If Such notice shall be given by telephone or in writing by a Designated Borrowing Officer, provided, that, if requested by the Agent, any such telephonic notice shall be confirmed by the Designated Borrowing Officer in writing by delivery to the Agent on or before the close of business on the date on which such Loan is to be made (but prior to such Loan being made) of a notice containing the original or facsimile signature of the a Designated Borrowing Officer. The Except for a Notice of Borrowing when the Agent will fund the related Loan pursuant to Section 2.03(e) hereof, the Agent shall provide each Purchaser Lender with prompt notice of each Notice of Borrowing. Except as otherwise provided in subsection 2.3(eSection 2.03(e), on the date specified in such notice, each Purchaser Lender shall, subject to the terms and conditions of this Agreement, fund make its Note Percentage Pro Rata Share of such Loan in immediately available funds by wire transfer to the Agent at its Office not later than 1:30 p.m. (New York City time). Unless the Agent determines that any applicable conditions in Section 4.2 6.02 have not been satisfied, the Agent shall make the funds so received from the Purchasers Lenders available to the Company Borrower not later than 2:30 p.m. (New York City time) ), on the date specified in such notice in immediately available funds by (i) depositing such proceeds in the Disbursement AccountAccount if the Disbursement Account is located at the Bank and (ii) initiating a wire transfer if the Disbursement Account is not located at the Bank.

Appears in 1 contract

Samples: Revolving Credit Agreement (Best Products Co Inc)

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