Notice of Loans. (a) A Borrower requesting a Loan shall give the Administrative Agent irrevocable telephonic (promptly confirmed in writing), written, telecopy or telex notice in the form of Exhibit B with respect to each Loan (i) in the case of a LIBO Rate Loan, not later than 10:30 a.m., New York City time, three Business Days before a proposed borrowing, and (ii) in the case of a Reference Rate Loan, not later than 10:30 a.m., New York City time, on the date of a proposed borrowing. Such notice shall be irrevocable (except that in the case of a LIBO Rate Loan, such Borrower may, subject to Section 2.13, revoke such notice by giving written or telex notice thereof to the Administrative Agent not later than 10:30 a.m., New York City time, two Business Days before such proposed borrowing) and shall in each case refer to this Agreement and specify (1) the Borrower to which the Loan then being requested is to be made, (2) whether the Loan then being requested is to be a Reference Rate Loan or LIBO Rate Loan, (3) the date of such Loan (which shall be a Business Day) and amount thereof, and (4) if such Loan is to be a LIBO Rate Loan, the Interest Period or Interest Periods (which shall not end after the Maturity Date) with respect thereto. If no election as to the type of Loan is specified in any such notice by such Borrower, such Loan shall be a Reference Rate Loan. If no Interest Period with respect to any LIBO Rate Loan is specified in any such notice by a Borrower, then the applicable Borrower shall be deemed to have selected an Interest Period of one month's duration. The Administrative Agent shall promptly advise the other Banks of any notice given by a Borrower pursuant to this Section 2.3(a) and of each Bank's portion of the requested Loan. (b) Each Borrower may continue or convert all or any part of any Loan as or into a Loan of the same or a different type in accordance with Section 2.10 and subject to the limitations set forth herein. If a Borrower shall not have delivered a borrowing notice in accordance with this Section 2.3 prior to the end of the Interest Period then in effect for any Loan of such Borrower requesting that such Loan be converted or continued as permitted hereby, then such Borrower shall (unless the Borrower has notified the Administrative Agent, not less than three Business Days prior to the end of such Interest Period, that such Loan is to be repaid at the end of such Interest Period) be deemed to have delivered a borrowing notice pursuant to Section 2.3 requesting that such Loan be converted into or continued as a Reference Rate Loan of equivalent amount. (c) Notwithstanding any provision to the contrary in this Agreement, no Borrower shall in any borrowing notice under this Section 2.3 request any LIBO Rate Loan which, if made, would result in more than 20 separate LIBO Rate Loans of any Bank. For purposes of the foregoing, Loans having different Interest Periods, regardless of whether they commence on the same date, shall be considered separate Loans.
Appears in 2 contracts
Samples: Credit Agreement (Freeport McMoran Inc), Credit Agreement (Freeport McMoran Resource Partners Limited Partnership)
Notice of Loans. (a) A The Borrower requesting shall request a Loan shall give by giving the Administrative Agent irrevocable telephonic (promptly confirmed in writing), written, telecopy or telex notice in the form of Exhibit B C with respect to each Loan (i) in the case of a LIBO Rate Loan, not later than 10:30 a.m., New York City time, three Business Days before a proposed borrowing, and (ii) in the case of a Reference Rate Loan, not later than 10:30 a.m., New York City time, on the date of a proposed borrowing. Such notice shall be irrevocable (except that in the case of a LIBO Rate Loan, such the Borrower may, subject to Section 2.13, revoke such notice by giving written or telex notice thereof to the Administrative Agent not later than 10:30 a.m., New York City time, two Business Days before such proposed borrowing) and shall in each case refer to this Agreement and specify (1) the Borrower to which the Loan then being requested is to be made, (2) whether the Loan then being requested is to be a Reference Rate Loan or LIBO Rate Loan, (32) the date of such Loan (which shall be a Business Day) and amount thereof, and (43) if such Loan is to be a LIBO Rate Loan, the Interest Period or Interest Periods (which shall not end after the Maturity Date) with respect thereto. If no election as to the type of Loan is specified in any such notice by such the Borrower, such Loan shall be a Reference Rate Loan. If no Interest Period with respect to any LIBO Rate Loan is specified in any such notice by a the Borrower, then the applicable Borrower shall be deemed to have selected an Interest Period of one month's duration. The Administrative Agent shall promptly advise the other Banks of any notice given by a Borrower pursuant to this Section 2.3(a) and of each Bank's portion of the requested Loan.
(b) Each The Borrower may continue or convert all or any part of any Loan as or into a Loan of the same or a different type in accordance with Section 2.10 and subject to the limitations set forth herein. If a the Borrower shall not have delivered a borrowing notice in accordance with this Section 2.3 2.03 prior to the end of the Interest Period then in effect for any Loan of such Borrower requesting that such Loan be converted or continued as permitted hereby, then such the Borrower shall (unless the Borrower has notified the Administrative Agent, not less than three Business Days prior to the end of such Interest Period, that such Loan is to be repaid at the end of such Interest Period) be deemed to have delivered a borrowing notice pursuant to this Section 2.3 2.03 requesting that such Loan be converted into or continued as a Reference Rate Loan of equivalent amount.
(c) Notwithstanding any provision to the contrary in this Agreement, no the Borrower shall not in any borrowing notice under this Section 2.3 2.03 request any LIBO Rate Loan which, if made, would result in more than 20 10 separate LIBO Rate Loans of any BankLender. For purposes of the foregoing, Loans having different Interest Periods, regardless of whether they commence on the same date, shall be considered separate Loans.
Appears in 2 contracts
Samples: Credit Agreement (Freeport McMoran Sulphur Inc), Credit Agreement (McMoran Exploration Co /De/)
Notice of Loans. (a) A Borrower requesting The Borrowers shall, through a Loan shall Responsible Officer of any of the Borrowers, give the Administrative Agent irrevocable written, facsimile or telephonic notice (promptly confirmed in writing)by written or facsimile notice) of each borrowing (including, writtenwithout limitation, telecopy a conversion or telex notice in the form of Exhibit B with respect to each Loan (icontinuation as permitted by Section 2.02(e) in the case of a LIBO Rate Loan, hereof) not later than 10:30 a.m.11:00 A.M., New York City time, (i) three (3) Business Days before a proposed borrowing, Eurodollar Loan borrowing or conversion or continuation and (ii) in one Business Day before an Alternate Base Loan borrowing or conversion (except that no such confirmation or notice as required by (ii) above will be required, unless requested by the case Agent, to the extent that the proceeds of a Reference Rate Loan, not later than 10:30 a.m., New York City time, on such borrowing are requested to be disbursed to Borrowers' controlled disbursement account maintained with the date of a proposed borrowingAgent). Such notice shall be irrevocable (except that in the case of a LIBO Rate Loan, such Borrower may, subject to Section 2.13, revoke such notice by giving written or telex notice thereof to the Administrative Agent not later than 10:30 a.m., New York City time, two Business Days before such proposed borrowing) and shall in each case refer to this Agreement and specify (1w) whether the Borrower to which the Loan Loans then being requested is are to be madeAlternate Base Loans or Eurodollar Loans, (2) whether the Loan then being requested is to be a Reference Rate Loan or LIBO Rate Loan, (3x) the date of such Loan borrowing (which shall be a Business Day) and amount thereof, thereof and (4y) if such Loan is Loans are to be a LIBO Rate LoanEurodollar Loans, the Interest Period or Interest Periods (which shall not end after the Maturity Date) with respect thereto. If no election as to the type of Loan is specified in any such notice by notice, all such Borrower, such Loan Loans shall be a Reference Rate LoanAlternate Base Loans. If no Interest Period with respect to any LIBO Rate Eurodollar Loan is specified in any such notice by a Borrowernotice, then the applicable Borrower shall be deemed to have selected an Interest Period of one month's durationduration shall be deemed to have been selected; provided, however, that no such Interest Period may be for more than one month for the period commencing on the Closing Date and ending on the earlier to occur of (x) the 120th day following the Closing Date and (y) the completion to the satisfaction of The Chase Manhattan Bank of the syndication of its portion of the Total Commitment and the Loans and other Credits thereunder. The Administrative Agent shall promptly advise the other Banks Lenders of any notice given by a Borrower pursuant to this Section 2.3(a) 2.03 and of each BankLender's portion of the requested Loanborrowing.
(b) Each Borrower may continue or convert all or any part of any Loan as or into a Loan of the same or a different type in accordance with Section 2.10 and subject to the limitations set forth herein. If a Borrower shall not have delivered a borrowing notice in accordance with this Section 2.3 prior to the end of the Interest Period then in effect for any Loan of such Borrower requesting that such Loan be converted or continued as permitted hereby, then such Borrower shall (unless the Borrower has notified the Administrative Agent, not less than three Business Days prior to the end of such Interest Period, that such Loan is to be repaid at the end of such Interest Period) be deemed to have delivered a borrowing notice pursuant to Section 2.3 requesting that such Loan be converted into or continued as a Reference Rate Loan of equivalent amount.
(c) Notwithstanding any provision to the contrary in this Agreement, no Borrower shall in any borrowing notice under this Section 2.3 request any LIBO Rate Loan which, if made, would result in more than 20 separate LIBO Rate Loans of any Bank. For purposes of the foregoing, Loans having different Interest Periods, regardless of whether they commence on the same date, shall be considered separate Loans.
Appears in 2 contracts
Samples: Credit Agreement (SLM International Inc /De), Credit Agreement (SLM International Inc /De)
Notice of Loans. (a) A Borrower requesting shall request a Loan Borrowing (other than a deemed Borrowing pursuant to Section 2.02(e), as to which this Section 2.03 shall give not apply) by giving the Administrative Agent irrevocable telephonic (promptly confirmed in writing), written, telecopy or telex notice in the form of Exhibit B C with respect to each Loan (i) in the case of a LIBO Rate Loan, not later than 10:30 a.m., New York City time, three Business Days before a proposed borrowingBorrowing, and (ii) in the case of a Reference Rate Loan, not later than 10:30 a.m., New York City time, on the date of a proposed borrowingBorrowing. Such notice shall be irrevocable (except that in the case of a LIBO Rate Loan, such Borrower may, subject to Section 2.13, revoke such notice by giving written or telex notice thereof to the Administrative Agent not later than 10:30 a.m., New York City time, two Business Days before such proposed borrowingBorrowing) and shall in each case refer to this Agreement and specify (1) the Borrower to which the Loan then being requested is to be made, (2) whether the Loan then being requested is to be a Reference Rate Loan or LIBO Rate Loan, (32) the date of such Loan (which shall be a Business Day) and amount thereof, and (43) if such Loan is to be a LIBO Rate Loan, the Interest Period or Interest Periods (which shall not end after the Maturity Date) with respect thereto. If no election as to the type Type of Loan is specified in any such notice by such Borrower, such Loan shall be a Reference Rate Loan. If no Interest Period with respect to any LIBO Rate Loan is specified in any such notice by a such Borrower, then the applicable such Borrower shall be deemed to have selected an Interest Period of one month's duration. The Administrative Agent shall promptly advise the other Banks of any notice given by a Borrower pursuant to this Section 2.3(a) and of each Bank's portion of the requested Loan.
(b) Each A Borrower may continue or convert all or any part of any Loan of its Loans as or into a Loan or Loans of the same or a different type Type in accordance with Section 2.10 and subject to the limitations set forth herein. If a such Borrower shall not have delivered a borrowing Borrowing notice in accordance with this Section 2.3 2.03 prior to the end of the Interest Period then in effect for any Loan of such Borrower requesting that such Loan be converted or continued as permitted hereby, then such Borrower shall (unless the such Borrower has notified the Administrative Agent, not less than three Business Days prior to the end of such Interest Period, that such Loan is to be repaid at the end of such Interest Period) be deemed to have delivered a borrowing Borrowing notice pursuant to this Section 2.3 2.03 requesting that such Loan be converted into or continued as a Reference Rate Loan of equivalent amount.
(c) Notwithstanding any provision to the contrary in this Agreement, no Borrower shall in any borrowing notice under this Section 2.3 request any LIBO Rate Loan which, if made, would result in more than 20 separate LIBO Rate Loans of any Bank. For purposes of the foregoing, Loans having different Interest Periods, regardless of whether they commence on the same date, shall be considered separate Loans.
Appears in 1 contract
Samples: Credit Agreement (Fm Properties Inc)
Notice of Loans. (a) A Borrower requesting The Borrowers shall, through a Loan shall Responsible Officer of any of the Borrowers, give the Administrative Agent irrevocable telephonic written, telex or facsimile notice (promptly confirmed in writing)) of each borrowing (including, writtenwithout limitation, telecopy or telex notice in the form of Exhibit B with respect to each Loan a conversion as permitted by Section 2.02(e) hereof) not later than 11:00 A.M., Los Angeles, California time, (i) in the case of a LIBO Rate Loan, not later than 10:30 a.m., New York City time, three (3) Business Days before a proposed borrowing, Eurodollar Loan borrowing or conversion and (ii) in one Business Day before an Alternate Base Loan borrowing or conversion (except that no such confirmation will be required, unless requested by the case Administrative Agent, to the extent that the proceeds of a Reference Rate Loan, not later than 10:30 a.m., New York City time, on such borrowing are requested to be disbursed to Borrowers' controlled disbursement account maintained with the date of a proposed borrowingAdministrative Agent). Such notice shall be irrevocable (except that in the case of a LIBO Rate Loan, such Borrower may, subject to Section 2.13, revoke such notice by giving written or telex notice thereof to the Administrative Agent not later than 10:30 a.m., New York City time, two Business Days before such proposed borrowing) and shall in each case refer to this Agreement and specify (1w) whether the Borrower to which the Loan Loans then being requested is are to be madeAlternate Base Loans or Eurodollar Loans, it being agreed that all Loans made on the Closing Date shall be Alternate Base Loans, (2) whether the Loan then being requested is to be a Reference Rate Loan or LIBO Rate Loan, (3x) the date of such Loan borrowing (which shall be a Business Day) and amount thereof, thereof and (4y) if such Loan is Loans are to be a LIBO Rate LoanEurodollar Loans, the Interest Period or Interest Periods (which shall not end after the Maturity Date) with respect thereto. If no election as to the type of Loan is specified in any such notice by notice, all such Borrower, such Loan Loans shall be a Reference Rate LoanAlternate Base Loans. If no Interest Period with respect to any LIBO Rate Eurodollar Loan is specified in any such notice by a Borrowernotice, then the applicable Borrower an Interest Period of one (1) month's duration shall be deemed to have selected an been selected; provided, however, that no such Interest Period may be for more than one (1) month for the period commencing on the Closing Date and ending on the earlier to occur of one month's duration(x) the 120th day following the Closing Date and (y) the completion to the satisfaction of the Syndication Agent of the syndication of the Total Revolving Credit Commitment and the Loans and other Credits thereunder. The Administrative Agent shall promptly advise the other Banks Lenders of any notice given by a Borrower pursuant to this Section 2.3(a) 2.03 and of each BankLender's portion of the requested Loanborrowing.
(b) Each Borrower may continue or convert all or any part of any Loan as or into a Loan of the same or a different type in accordance with Section 2.10 and subject to the limitations set forth herein. If a Borrower shall not have delivered a borrowing notice in accordance with this Section 2.3 prior to the end of the Interest Period then in effect for any Loan of such Borrower requesting that such Loan be converted or continued as permitted hereby, then such Borrower shall (unless the Borrower has notified the Administrative Agent, not less than three Business Days prior to the end of such Interest Period, that such Loan is to be repaid at the end of such Interest Period) be deemed to have delivered a borrowing notice pursuant to Section 2.3 requesting that such Loan be converted into or continued as a Reference Rate Loan of equivalent amount.
(c) Notwithstanding any provision to the contrary in this Agreement, no Borrower shall in any borrowing notice under this Section 2.3 request any LIBO Rate Loan which, if made, would result in more than 20 separate LIBO Rate Loans of any Bank. For purposes of the foregoing, Loans having different Interest Periods, regardless of whether they commence on the same date, shall be considered separate Loans.
Appears in 1 contract
Notice of Loans. (a) A In order to request a Loan, the Borrower requesting a Loan shall give the Administrative Agent irrevocable telephonic (promptly confirmed in writing), written, telecopy or telex notice in the form of Exhibit B with respect to each Loan (i) in the case of a LIBO Rate Loan, not later than 10:30 a.m., New York City time, three Business Days before a proposed borrowing, and (ii) in the case of a Reference Rate Loan, not later than 10:30 a.m., New York City time, on the date of a proposed borrowing. Such notice shall be irrevocable (except that in the case of a LIBO Rate Loan, such the Borrower may, subject to Section 2.13, revoke such notice by giving written or telex notice thereof to the Administrative Agent not later than 10:30 a.m., New York City time, two Business Days before such proposed borrowing) and shall in each case refer to this Agreement and specify (1) the Borrower to which the Loan then being requested is to be made, (2) whether the Loan then being requested is to be a Reference Rate Loan or LIBO Rate Loan, (32) the date of such Loan (which shall be a Business Day) and amount thereof, and (43) if such Loan is to be a LIBO Rate Loan, the Interest Period or Interest Periods (which shall not end after the Maturity Date) with respect thereto. If no election as to the type of Loan is specified in any such notice by such the Borrower, such Loan shall be a Reference Rate Loan. If no Interest Period with respect to any LIBO Rate Loan is specified in any such notice by a the Borrower, then the applicable Borrower shall be deemed to have selected an Interest Period of one month's duration. The Administrative Agent shall promptly advise the other Banks of any notice given by a the Borrower pursuant to this Section 2.3(a) and of each Bank's portion of the requested Loan.
(b) Each The Borrower may continue or convert all or any part of any Loan as or into a Loan of the same or a different type in accordance with Section 2.10 and subject to the limitations set forth herein. If a the Borrower shall not have delivered a borrowing notice in accordance with this Section 2.3 prior to the end of the Interest Period then in effect for any Loan of such the Borrower requesting that such Loan be converted or continued as permitted hereby, then such the Borrower shall (unless the Borrower has notified the Administrative Agent, not less than three Business Days prior to the end of such Interest Period, that such Loan is to be repaid at the end of such Interest Period) be deemed to have delivered a borrowing notice pursuant to Section 2.3 requesting that such Loan be converted into or continued as a Reference Rate Loan of equivalent amount.
(c) Notwithstanding any provision to the contrary in this Agreement, no the Borrower shall not in any borrowing notice under this Section 2.3 request any LIBO Rate Loan which, if made, would result in more than 20 8 separate LIBO Rate Loans of any Bank. For purposes of the foregoing, Loans having different Interest Periods, regardless of whether they commence on the same date, shall be considered separate Loans.
Appears in 1 contract
Notice of Loans. (a1) A In order to request a Loan, the Borrower requesting a Loan shall give the Administrative Agent irrevocable telephonic (promptly confirmed in writing), written, telecopy or telex notice in the form of Exhibit B hereto with respect to each Loan (i1) in the case of a LIBO Rate Loan, not later than 10:30 a.m., New York City time, three Business Days before a proposed borrowing, and (ii2) in the case of a Reference Rate Loan, not later than 10:30 a.m., New York City time, on the date of a proposed borrowing. Such notice shall be irrevocable (except that in the case of a LIBO Rate Loan, such the Borrower may, subject to Section 2.13, revoke such notice by giving written or telex notice thereof to the Administrative Agent not later than 10:30 a.m., New York City time, two Business Days before such proposed borrowing) and shall in each case refer to this Agreement and specify (1) the Borrower to which the Loan then being requested is to be made, (2) whether the Loan then being requested is to be a Reference Rate Loan or LIBO Rate Loan, (32) the date of such Loan (which shall be a Business Day) and amount thereof, and (43) if such Loan is to be a LIBO Rate Loan, the Interest Period or Interest Periods (which shall not end after the Maturity Date) with respect thereto. If no election as to the type of Loan is specified in any such notice by such the Borrower, such Loan shall be a Reference Rate Loan. If no Interest Period with respect to any LIBO Rate Loan is specified in any such notice by a the Borrower, then the applicable Borrower shall be deemed to have selected an Interest Period of one month's duration. The Administrative Agent shall promptly advise the other Banks of any notice given by a the Borrower pursuant to this Section 2.3(a) and of each Bank's portion of the requested Loan.
(b2) Each The Borrower may continue or convert all or any part of any Loan as or into a Loan of the same or a different type in accordance with Section 2.10 and subject to the limitations set forth herein. If a the Borrower shall not have delivered a borrowing notice in accordance with this Section 2.3 prior to the end of the Interest Period then in effect for any Loan of such the Borrower requesting that such Loan be converted or continued as permitted hereby, then such the Borrower shall (unless the Borrower has notified the Administrative Agent, not less than three Business Days prior to the end of such Interest Period, that such Loan is to be repaid at the end of such Interest Period) be deemed to have delivered a borrowing notice pursuant to Section 2.3 requesting that such Loan be converted into or continued as a Reference Rate Loan of equivalent amount.
(c3) Notwithstanding any provision to the contrary in this Agreement, no the Borrower shall not in any borrowing notice under this Section 2.3 request any LIBO Rate Loan which, if made, would result in more than 20 8 separate LIBO Rate Loans of any Bank. For purposes of the foregoing, Loans having different Interest Periods, regardless of whether they commence on the same date, shall be considered separate Loans.
Appears in 1 contract
Samples: Credit Agreement (Fm Properties Inc)
Notice of Loans. (a) A Borrower requesting The Borrowers shall, through a Loan shall Responsible Officer of any of the Borrowers, give the Administrative Agent irrevocable telephonic written, telex or facsimile notice (promptly confirmed in writing)) of each borrowing (including, writtenwithout limitation, telecopy or telex notice in the form of Exhibit B with respect to each Loan a conversion as permitted by Section 2.02(e) hereof) not later than 9:00 A.M., Los Angeles, California time, (i) in the case of a LIBO Rate Loan, not later than 10:30 a.m., New York City time, three (3) Business Days before a proposed borrowing, Eurodollar Loan borrowing or conversion and (ii) in the case of a Reference Rate Loan, not later than 10:30 a.m., New York City time, on the date day of a proposed borrowingan Alternate Base Loan borrowing or conversion. Such notice shall be irrevocable (except that in the case of a LIBO Rate Loan, such Borrower may, subject to Section 2.13, revoke such notice by giving written or telex notice thereof to the Administrative Agent not later than 10:30 a.m., New York City time, two Business Days before such proposed borrowing) and shall in each case refer to this Agreement and specify (1w) whether the Borrower to which the Loan Loans then being requested is are to be madeAlternate Base Loans or Eurodollar Loans, it being agreed that all Loans made on the Closing Date shall be Alternate Base Loans, (2) whether the Loan then being requested is to be a Reference Rate Loan or LIBO Rate Loan, (3x) the date of such Loan borrowing (which shall be a Business Day) and amount thereof, thereof and (4y) if such Loan is Loans are to be a LIBO Rate LoanEurodollar Loans, the Interest Period or Interest Periods (which shall not end after the Maturity Date) with respect thereto. If no election as to the type of Loan is specified in any such notice by notice, all such Borrower, such Loan Loans shall be a Reference Rate LoanAlternate Base Loans. If no Interest Period with respect to any LIBO Rate Eurodollar Loan is specified in any such notice by a Borrowernotice, then the applicable Borrower an Interest Period of one (1) month's duration shall be deemed to have selected an been selected; PROVIDED, HOWEVER, that no such Interest Period may be for more than one (1) month for the period commencing on the Closing Date and ending on the earlier to occur of one month's duration(x) the 120th day following the Closing Date and (y) the completion to the satisfaction of the Syndication Agent of the syndication of the Total Revolving Credit Commitment and the Loans and other Credits thereunder. The Administrative Agent shall promptly advise the other Banks Lenders of any notice given by a Borrower pursuant to this Section 2.3(a) 2.03 and of each BankLender's portion of the requested Loan.
borrowing. In addition, the Borrowers shall specify whether the requested Loan is for a Permitted Acquisition, Capital Expenditures (b) Each Borrower may continue in which case the Borrowers shall certify that such advance is not in violation of Section 7.07 hereof), or convert all or any part of any Loan as or into a Loan for other requirements of the same or a different type in accordance with Section 2.10 and subject to the limitations set forth herein. If a Borrower shall not have delivered a borrowing notice in accordance with this Section 2.3 prior to the end of the Interest Period then in effect for any Loan of such Borrower requesting that such Loan be converted or continued as permitted hereby, then such Borrower shall (unless the Borrower has notified the Administrative Agent, not less than three Business Days prior to the end of such Interest Period, that such Loan is to be repaid at the end of such Interest Period) be deemed to have delivered a borrowing notice pursuant to Section 2.3 requesting that such Loan be converted into or continued as a Reference Rate Loan of equivalent amountBorrowers.
(c) Notwithstanding any provision to the contrary in this Agreement, no Borrower shall in any borrowing notice under this Section 2.3 request any LIBO Rate Loan which, if made, would result in more than 20 separate LIBO Rate Loans of any Bank. For purposes of the foregoing, Loans having different Interest Periods, regardless of whether they commence on the same date, shall be considered separate Loans.
Appears in 1 contract
Samples: Credit Agreement (Interdent Inc)
Notice of Loans. (a) A Borrower requesting The Borrowers shall, through a Loan shall Responsible Officer of any of the Borrowers, give the Administrative Agent irrevocable telephonic written, telex or facsimile notice (promptly confirmed in writing)) of each borrowing (including, writtenwithout limitation, telecopy a conversion as permitted by Section 2.02(e) hereof) not later than 9:00 A.M., Los Angeles, California time, (i) three (3) Business Days before a proposed Eurodollar Loan borrowing or telex conversion and (ii) on the day of an Alternate Base Loan borrowing or conversion. Such notice shall be in the form of Exhibit B with respect to each Loan (i) in the case of a LIBO Rate Loan, not later than 10:30 a.m., New York City time, three Business Days before a proposed borrowing, O annexed hereto and (ii) in the case of a Reference Rate Loan, not later than 10:30 a.m., New York City time, on the date of a proposed borrowing. Such notice which shall be irrevocable (except that in the case of a LIBO Rate Loan, such Borrower may, subject to Section 2.13, revoke such notice by giving written or telex notice thereof to the Administrative Agent not later than 10:30 a.m., New York City time, two Business Days before such proposed borrowing) and shall in each case refer to this Agreement and specify (1w) whether the Borrower to which the Loan Loans then being requested is are to be madeAlternate Base Loans or Eurodollar Loans, (2) whether the Loan then being requested is to be a Reference Rate Loan or LIBO Rate Loan, (3x) the date of such Loan borrowing (which shall be a Business Day) and amount thereof, and (4y) if such Loan is Loans are to be a LIBO Rate LoanEurodollar Loans, the Interest Period or Interest Periods (which shall not end after the Maturity Date) with respect theretothereto and (z) that (A) the Borrowers have concurrently given notice under the 1999 Credit Agreement of a borrowing which is pro rata (based on the aggregate of the Total Revolving Credit Commitment under this Agreement and the Total Revolving Credit Commitment under the 1999 Credit Agreement) and (B) the allocation of such borrowing between this Agreement and the 1999 Agreement. If no election as to the type of Loan is specified in any such notice by notice, all such Borrower, such Loan Loans shall be a Reference Rate LoanAlternate Base Loans. If no Interest Period with respect to any LIBO Rate Eurodollar Loan is specified in any such notice by a Borrowernotice, then the applicable Borrower an Interest Period of one (1) month's duration shall be deemed to have selected an Interest Period of one month's durationbeen selected. The Administrative Agent shall promptly advise the other Banks Lenders of any notice given by a Borrower pursuant to this Section 2.3(a) 2.03 and of each BankLender's portion of the requested Loanborrowing.
(b) Each Borrower may continue or convert all or any part of any Loan as or into a Loan of the same or a different type in accordance with Section 2.10 and subject to the limitations set forth herein. If a Borrower shall not have delivered a borrowing notice in accordance with this Section 2.3 prior to the end of the Interest Period then in effect for any Loan of such Borrower requesting that such Loan be converted or continued as permitted hereby, then such Borrower shall (unless the Borrower has notified the Administrative Agent, not less than three Business Days prior to the end of such Interest Period, that such Loan is to be repaid at the end of such Interest Period) be deemed to have delivered a borrowing notice pursuant to Section 2.3 requesting that such Loan be converted into or continued as a Reference Rate Loan of equivalent amount.
(c) Notwithstanding any provision to the contrary in this Agreement, no Borrower shall in any borrowing notice under this Section 2.3 request any LIBO Rate Loan which, if made, would result in more than 20 separate LIBO Rate Loans of any Bank. For purposes of the foregoing, Loans having different Interest Periods, regardless of whether they commence on the same date, shall be considered separate Loans.'
Appears in 1 contract
Samples: Credit Agreement (Interdent Inc)
Notice of Loans. (a) A The Borrower requesting shall, through a Loan shall Responsible Officer of the Borrower, give the Administrative Agent irrevocable written, facsimile or telephonic notice (promptly confirmed in writing)by written or facsimile notice) of each borrowing (including, writtenwithout limitation, telecopy a conversion or telex notice in the form of Exhibit B with respect to each Loan (icontinuation as permitted by Section 2.02(e) in the case of a LIBO Rate Loan, hereof) not later than 10:30 a.m.11:00 A.M., New York City time, (i) three (3) Business Days before a proposed Eurodollar Loan borrowing, conversion or continuation and (ii) in one Business Day before an Alternate Base Loan borrowing, conversion or continuation (except that no such confirmation or notice as required by (ii) above will be required, unless requested by the case Agent, to the extent that the proceeds of a Reference Rate Loan, not later than 10:30 a.m., New York City time, on such borrowing are requested to be disbursed to Borrower's controlled disbursement account maintained with the date of a proposed borrowingAgent). Such notice shall specify (w) whether the Loans then being requested are to be irrevocable Tranche A Revolving Credit Loans or Tranche B Revolving Credit Loans, (x) whether the Loans then being requested are to be Alternate Base Loans or Eurodollar Loans (except that in no Eurodollar Loans may be requested until five (5) days after the case of a LIBO Rate Loan, such Borrower may, subject to Section 2.13, revoke such notice by giving written or telex notice thereof to the Administrative Agent not later than 10:30 a.m., New York City time, two Business Days before such proposed borrowing) and shall in each case refer to this Agreement and specify (1) the Borrower to which the Loan then being requested is to be madeClosing Date), (2) whether the Loan then being requested is to be a Reference Rate Loan or LIBO Rate Loan, (3y) the date of such Loan borrowing (which shall be a Business Day) and amount thereof, thereof and (4z) if such Loan is Loans are to be a LIBO Rate LoanEurodollar Loans, the Interest Period or Interest Periods (which shall not end after the Maturity Date) with respect thereto. If no election as to the type of Loan is specified in any such notice by notice, all such Borrower, such Loan Loans shall be a Reference Rate LoanAlternate Base Loans. If no Interest Period with respect to any LIBO Rate Eurodollar Loan is specified in any such notice by a Borrowernotice, then the applicable Borrower shall be deemed to have selected an Interest Period of one month's durationduration shall be deemed to have been selected; provided, however, that no such Interest Period may be for more than one month for the period commencing on the Closing Date and ending on the earlier to occur of (x) the 120th day following the Closing Date and (y) the completion to the satisfaction of The Chase Manhattan Bank of the syndication of its portion of the Total Commitment and the Loans and other Credits thereunder. The Administrative Agent shall promptly advise the other Banks Lenders of any notice given by a Borrower pursuant to this Section 2.3(a) 2.03 and of each BankLender's portion of the requested Loanborrowing.
(b) Each Borrower may continue or convert all or any part of any Loan as or into a Loan of the same or a different type in accordance with Section 2.10 and subject to the limitations set forth herein. If a Borrower shall not have delivered a borrowing notice in accordance with this Section 2.3 prior to the end of the Interest Period then in effect for any Loan of such Borrower requesting that such Loan be converted or continued as permitted hereby, then such Borrower shall (unless the Borrower has notified the Administrative Agent, not less than three Business Days prior to the end of such Interest Period, that such Loan is to be repaid at the end of such Interest Period) be deemed to have delivered a borrowing notice pursuant to Section 2.3 requesting that such Loan be converted into or continued as a Reference Rate Loan of equivalent amount.
(c) Notwithstanding any provision to the contrary in this Agreement, no Borrower shall in any borrowing notice under this Section 2.3 request any LIBO Rate Loan which, if made, would result in more than 20 separate LIBO Rate Loans of any Bank. For purposes of the foregoing, Loans having different Interest Periods, regardless of whether they commence on the same date, shall be considered separate Loans.
Appears in 1 contract
Samples: Credit Agreement (American Bank Note Holographics Inc)
Notice of Loans. (a) A Borrower requesting a Loan shall give the Administrative Agent irrevocable telephonic (promptly confirmed in writing), written, telecopy or telex notice in the form of Exhibit B with respect to each Loan (i) in the case of a LIBO Rate Loan, not later than 10:30 a.m., New York City time, three Business Days before a proposed borrowing, and (ii) in the case of a Reference Rate Loan, not later than 10:30 a.m., New York City time, on the date of a proposed borrowing. Such notice shall be irrevocable (except that in the case of a LIBO Rate Loan, such Borrower may, subject to Section 2.133.13, revoke such notice by giving written or telex notice thereof to the Administrative Agent not later than 10:30 a.m., New York City time, two Business Days before such proposed borrowing) and shall in each case refer to this Agreement and specify specify
(1) the Borrower to which the Loan then being requested is to be made, (2) whether the Loan then being requested is to be a Reference Rate Loan or LIBO Rate Loan, (3) the date of such Loan (which shall be a Business Day) and amount thereof, and (4) if such Loan is to be a LIBO Rate Loan, the Interest Period or Interest Periods (which shall not end after the Maturity Date) with respect thereto. If no election as to the type of Loan is specified in any such notice by such Borrower, such Loan shall be a Reference Rate Loan. If no Interest Period with respect to any LIBO Rate Loan is specified in any such notice by a Borrower, then the applicable Borrower shall be deemed to have selected an Interest Period of one month's duration. The Administrative Agent shall promptly advise the other Banks of any notice given by a Borrower pursuant to this Section 2.3(a3.3(a) and of each Bank's portion of the requested Loan.
(b) Each Borrower may continue or convert all or any part of any Loan as or into a Loan of the same or a different type in accordance with Section 2.10 3.10 and subject to the limitations set forth herein. If a Borrower shall not have delivered a borrowing notice in accordance with this Section 2.3 3.3 prior to the end of the Interest Period then in effect for any Loan of such Borrower requesting that such Loan be converted or continued as permitted hereby, then such Borrower shall (unless the Borrower has notified the Administrative Agent, not less than three Business Days prior to the end of such Interest Period, that such Loan is to be repaid at the end of such Interest Period) be deemed to have delivered a borrowing notice pursuant to Section 2.3 3.3 requesting that such Loan be converted into or continued as a Reference Rate Loan of equivalent amount.
(c) Notwithstanding any provision to the contrary in this Agreement, no Borrower shall in any borrowing notice under this Section 2.3 3.3 request any LIBO Rate Loan which, if made, would result in more than 20 separate LIBO Rate Loans of any Bank. For purposes of the foregoing, Loans having different Interest Periods, regardless of whether they commence on the same date, shall be considered separate Loans.
Appears in 1 contract
Samples: Credit Agreement (Freeport McMoran Copper & Gold Inc)
Notice of Loans. (a) A Borrower requesting a Loan FI shall give the Administrative Agent irrevocable telephonic (promptly confirmed in writing), written, telecopy or telex notice in the form of Exhibit B with respect to each Loan (i) in the case of a LIBO Rate Loan, not later than 10:30 a.m., New York City time, three Business Days before a proposed borrowing, and (ii) in the case of a Reference Rate Loan, not later than 10:30 a.m., New York City time, on the date of a proposed borrowing. Such notice shall be irrevocable (except that in the case of a LIBO Rate Loan, such Borrower FI may, subject to Section 2.133.13, revoke such notice by giving written or telex notice thereof to the Administrative Agent not later than 10:30 a.m., New York City time, two Business Days before such proposed borrowing) and shall in each case refer to this Agreement and specify (1) the Borrower to which the Loan then being requested is to be made, (2) whether the Loan then being requested is to be a Reference Rate Loan or LIBO Rate Loan, (32) the date of such Loan (which shall be a Business Day) and amount thereof, and (43) if such Loan is to be a LIBO Rate Loan, the Interest Period or Interest Periods (which shall not end after the Maturity Date) with respect thereto. If no election as to the type of Loan is specified in any such notice by such BorrowerFI, such Loan shall be a Reference Rate Loan. If no Interest Period with respect to any LIBO Rate Loan is specified in any such notice by a BorrowerFI, then the applicable Borrower FI shall be deemed to have selected an Interest Period of one month's duration. The Administrative Agent shall promptly advise the other Banks of any notice given by a Borrower FI pursuant to this Section 2.3(a3.3(a) and of each Bank's portion of the requested Loan.
(b) Each Borrower FI may continue or convert all or any part of any Loan as or into a Loan of the same or a different type in accordance with Section 2.10 3.10 and subject to the limitations set forth herein. If a Borrower FI shall not have delivered a borrowing notice in accordance with this Section 2.3 3.3 prior to the end of the Interest Period then in effect for any Loan of such Borrower requesting that such Loan be converted or continued as permitted hereby, then such Borrower FI shall (unless the Borrower FI has notified the Administrative Agent, not less than three Business Days prior to the end of such Interest Period, that such Loan is to be repaid at the end of such Interest Period) be deemed to have delivered a borrowing notice pursuant to Section 2.3 3.3 requesting that such Loan be converted into or continued as a Reference Rate Loan of equivalent amount.
(c) Notwithstanding any provision to the contrary in this Agreement, no Borrower FI shall not in any notice of borrowing notice under this Section 2.3 3.3 request any LIBO Rate Loan which, if made, would result in more than 20 separate LIBO Rate Loans of any Bank. For purposes of the foregoing, Loans having different Interest Periods, regardless of whether they commence on the same date, shall be considered separate Loans.
Appears in 1 contract
Samples: Credit Agreement (Freeport McMoran Copper & Gold Inc)
Notice of Loans. (a) A Borrower requesting In order to request a Loan shall of any type and in any Currency hereunder, the appropriate Borrower shall, except as otherwise expressly provided in Section 3.3, give the Administrative Agent irrevocable telephonic (promptly confirmed in writing)notice, written, telecopy or telex notice substantially in the form of Exhibit B with respect to each Loan G, executed by a Financial Officer thereof, (i) in the case of a LIBO Rate Loan, not later than 10:30 9:00 a.m., New York City Los Angeles time, one Business Day before such Loan is to be made if such Loan is to be an ABR Loan and (ii) not later than 10:00 a.m., Los Angeles time, three Business Days before such Loan is to be made if such Loan is to be a proposed borrowing, and Eurodollar Loan denominated in Dollars (ii) or at least five Business Days before such Loan is to be Credit Agreement Final made if such Loan is to be a Eurodollar Loan denominated in the case of a Reference Rate Loan, not later than 10:30 a.m., New York City time, on the date of a proposed borrowingForeign Currency). Such notice shall be irrevocable (except that in the case of a LIBO Rate Loan, such Borrower may, subject to Section 2.13, revoke such notice by giving written or telex notice thereof to the Administrative Agent not later than 10:30 a.m., New York City time, two Business Days before such proposed borrowing) and shall in each case refer to this Agreement and specify (1A) the Borrower to Currency in which the such Loan then being requested is to will be madedenominated, (2B) whether the Loan then being requested is to be a Reference Rate an ABR Loan or LIBO Rate a Eurodollar Loan, (3C) the date of such Loan the proposed borrowing (which shall be a Business Day) and amount thereof, thereof and (4D) if such Loan is to be a LIBO Rate Eurodollar Loan, the Interest Period or Interest Periods (which shall not end after the Maturity Date) with respect thereto. If no election as to the type of Loan is specified in any such notice by such Borrowernotice, such the Loan shall be a Reference Rate an ABR Loan. If no Interest Period with respect to any LIBO Rate Eurodollar Loan is specified in any such notice by a Borrowernotice, then the applicable such Borrower shall be deemed to have selected an Interest Period of one month's duration. Promptly following the receipt of a notice of borrowing request, the Administrative Agent shall advise each Bank of the details thereof and of the amount of such Bank's Loan to be made as part of the requested borrowing. Notwithstanding the foregoing, unless the Administrative Agent has notified, in its sole and absolute discretion, the Borrowers to the contrary, a Loan may be requested by telephone by a Financial Officer of the applicable Borrower, in which case such Borrower shall confirm such request by promptly delivering a borrowing notice in the form of Exhibit G, in person or by telecopier to the Administrative Agent. The Administrative Agent shall promptly advise the other Banks of incur no liability whatsoever hereunder in acting upon any notice given telephonic request for Loans purportedly made by a Borrower pursuant such Financial Officer, and the Borrowers hereby agree to this Section 2.3(a) and indemnify the Administrative Agent from any loss, cost, expense or liability as a result of each Bank's portion of the requested Loanso acting.
(b) Each Borrower Borrower, as applicable, may continue any Eurodollar Loan or convert all or any part of any ABR Loan as or Eurodollar Loan into a Loan of the same or a different type type, in each case in accordance with Section 2.10 2.9 hereof and subject to the limitations set forth herein. If a Borrower shall not have delivered a borrowing notice in accordance with this Section 2.3 prior to the end of the Interest Period then in effect for any Loan of such Borrower requesting that such Loan be converted or continued as permitted hereby, then such Borrower shall (unless the Borrower has notified the Administrative Agent, not less than three Business Days prior to the end of such Interest Period, that such Loan is to be repaid at the end of such Interest Period) be deemed to have delivered a borrowing notice pursuant to Section 2.3 requesting that such Loan be converted into or continued as a Reference Rate Loan of equivalent amounttherein.
(c) Notwithstanding any provision to the contrary in this Agreement, no Borrower shall in any borrowing notice under this Section 2.3 request any LIBO Rate Loan which, if made, would result in more than 20 separate LIBO Rate Loans of any Bank. For purposes of the foregoing, Loans having different Interest Periods, regardless of whether they commence on the same date, shall be considered separate Loans.
Appears in 1 contract
Notice of Loans. (a) A Borrower requesting The Borrowers shall, through a Loan shall Responsible Officer of any of the Borrowers, give the Administrative Agent irrevocable telephonic written, telex or facsimile notice (promptly confirmed in writing)) of each borrowing (including, writtenwithout limitation, telecopy a conversion as permitted by Section 2.02(e) hereof) not later than 9:00 A.M., Los Angeles, California time, (i) three (3) Business Days before a proposed Eurodollar Loan borrowing or telex conversion and (ii) on the day of an Alternate Base Loan borrowing or conversion. Such notice shall be in the form of Exhibit B with respect to each Loan (i) in the case of a LIBO Rate Loan, not later than 10:30 a.m., New York City time, three Business Days before a proposed borrowing, 0 annexed hereto and (ii) in the case of a Reference Rate Loan, not later than 10:30 a.m., New York City time, on the date of a proposed borrowing. Such notice which shall be irrevocable (except that in the case of a LIBO Rate Loan, such Borrower may, subject to Section 2.13, revoke such notice by giving written or telex notice thereof to the Administrative Agent not later than 10:30 a.m., New York City time, two Business Days before such proposed borrowing) and shall in each case refer to this Agreement and specify (1w) whether the Borrower to which the Loan Loans then being requested is are to be madeAlternate Base Loans or Eurodollar Loans, it being agreed that all Loans made on the Closing Date shall be Alternate Base Loans, (2) whether the Loan then being requested is to be a Reference Rate Loan or LIBO Rate Loan, (3x) the date of such Loan borrowing (which shall be a Business Day) and amount thereof, and (4y) if such Loan is Loans are to be a LIBO Rate LoanEurodollar Loans, the Interest Period or Interest Periods (which shall not end after the Maturity Date) with respect theretothereto and (z) that (A) the Borrowers have concurrently given notice under the 1999 Credit Agreement of a borrowing which is pro rata (based on the aggregate of the Total Revolving Credit Commitment under this Agreement and the "Total Revolving Credit Commitment" under the 1999 Credit Agreement) and (B) the allocation of such borrowing between this Agreement and the 1999 Credit Agreement. If no election as to the type of Loan is specified in any such notice by notice, all such Borrower, such Loan Loans shall be a Reference Rate LoanAlternate Base Loans. If no Interest Period with respect to any LIBO Rate Eurodollar Loan is specified in any such notice by a Borrowernotice, then the applicable Borrower an Interest Period of one (1) month's duration shall be deemed to have selected an Interest Period of one month's durationbeen selected. The Administrative Agent shall promptly advise the other Banks Lenders of any notice given by a Borrower pursuant to this Section 2.3(a) 2.03 and of each BankLender's portion of the requested Loan.
borrowing. In addition, the Borrowers shall specify whether the requested Loan is for a Permitted Acquisition, Capital Expenditures (b) Each Borrower may continue in which case the Borrowers shall certify that such advance is not in violation of Section 7.07 hereof), or convert all or any part of any Loan as or into a Loan for other requirements of the same Borrowers; PROVIDED, HOWEVER, that no requested borrowing may be for a Permitted Acquisition or a different type in accordance with Section 2.10 Permitted De Novo Capital Expenditure unless and subject to until the limitations set forth herein. If a Borrower shall not have delivered a borrowing notice in accordance with this Section 2.3 prior to the end aggregate of the Interest Period then in effect for any Loan of such Borrower requesting that such Loan be converted or continued as permitted herebyTotal Revolving Credit Commitment under this Agreement and the "Total Revolving Credit Commitment" under the 1999 Credit Agreement shall have been increased to $120,000,000; PROVIDED, then such Borrower shall (unless the Borrower has notified the Administrative Agent, not less than three Business Days prior to the end of such Interest PeriodFURTHER, that no such Loan is to be repaid at requested borrowing for a Permitted Acquisition or a Permitted De Novo Capital Expenditure shall, when taken together with all other borrowings for Permitted Acquisitions and Permitted De Novo Capital Expenditures made hereunder and under the end of such Interest Period) be deemed to have delivered a borrowing notice pursuant to Section 2.3 requesting that such Loan be converted into or continued as a Reference Rate Loan of equivalent amount1999 Credit Agreement since the Closing Date, exceed $5,000,000.
(c) Notwithstanding any provision to the contrary in this Agreement, no Borrower shall in any borrowing notice under this Section 2.3 request any LIBO Rate Loan which, if made, would result in more than 20 separate LIBO Rate Loans of any Bank. For purposes of the foregoing, Loans having different Interest Periods, regardless of whether they commence on the same date, shall be considered separate Loans.
Appears in 1 contract
Samples: Credit Agreement (Interdent Inc)
Notice of Loans. (a) A Borrower requesting The Borrowers shall, through a Loan shall Responsible Officer of any of the Borrowers, give the Administrative Agent irrevocable telephonic written, telex or facsimile notice (promptly confirmed in writing)) of each borrowing (including, writtenwithout limitation, telecopy a conversion as permitted by Section 2.02(e) hereof) not later than 9:00 A.M., Los Angeles, California time, (i) three (3) Business Days before a proposed Eurodollar Loan borrowing or telex conversion and (ii) on the day of an Alternate Base Loan borrowing or conversion. Such notice shall be in the form of Exhibit B with respect to each Loan (i) in the case of a LIBO Rate Loan, not later than 10:30 a.m., New York City time, three Business Days before a proposed borrowing, O annexed hereto and (ii) in the case of a Reference Rate Loan, not later than 10:30 a.m., New York City time, on the date of a proposed borrowing. Such notice which shall be irrevocable (except that in the case of a LIBO Rate Loan, such Borrower may, subject to Section 2.13, revoke such notice by giving written or telex notice thereof to the Administrative Agent not later than 10:30 a.m., New York City time, two Business Days before such proposed borrowing) and shall in each case refer to this Agreement and specify (1w) whether the Borrower to which the Loan Loans then being requested is are to be madeAlternate Base Loans or Eurodollar Loans, (2) whether the Loan then being requested is to be a Reference Rate Loan or LIBO Rate Loan, (3x) the date of such Loan borrowing (which shall be a Business Day) and amount thereof, and (4y) if such Loan is Loans are to be a LIBO Rate LoanEurodollar Loans, the Interest Period or Interest Periods (which shall not end after the Maturity Date) with respect theretothereto and (z) that (A) the Borrowers have concurrently given notice under the 2000 Credit Agreement of a borrowing which is pro rata (based on the aggregate of the Total Revolving Credit Commitment under this Agreement and the Total Revolving Credit Commitment under the 2000 Credit Agreement) and (B) the allocation of such borrowing between this Agreement and the 2000 Agreement. If no election as to the type of Loan is specified in any such notice by notice, all such Borrower, such Loan Loans shall be a Reference Rate LoanAlternate Base Loans. If no Interest Period with respect to any LIBO Rate Eurodollar Loan is specified in any such notice by a Borrowernotice, then the applicable Borrower an Interest Period of one (1) month's duration shall be deemed to have selected an Interest Period of one month's durationbeen selected. The Administrative Agent shall promptly advise the other Banks Lenders of any notice given by a Borrower pursuant to this Section 2.3(a) 2.03 and of each BankLender's portion of the requested Loanborrowing.'
(bC. Section 2.04(c) Each Borrower may continue or convert all or any part of any Loan as or into a Loan of the same or a different type Credit Agreement is hereby amended to read in accordance with Section 2.10 and subject to the limitations set forth herein. If a Borrower shall not have delivered a borrowing notice in accordance with this Section 2.3 prior to the end of the Interest Period then in effect for any Loan of such Borrower requesting that such Loan be converted or continued full as permitted hereby, then such Borrower shall (unless the Borrower has notified the Administrative Agent, not less than three Business Days prior to the end of such Interest Period, that such Loan is to be repaid at the end of such Interest Period) be deemed to have delivered a borrowing notice pursuant to Section 2.3 requesting that such Loan be converted into or continued as a Reference Rate Loan of equivalent amount.
(c) Notwithstanding any provision to the contrary in this Agreement, no Borrower shall in any borrowing notice under this Section 2.3 request any LIBO Rate Loan which, if made, would result in more than 20 separate LIBO Rate Loans of any Bank. For purposes of the foregoing, Loans having different Interest Periods, regardless of whether they commence on the same date, shall be considered separate Loans.follows:
Appears in 1 contract
Samples: Credit Agreement (Interdent Inc)
Notice of Loans. (a) A In order to request a Revolving Loan hereunder, the Borrower requesting a Loan shall shall, except as otherwise expressly provided in Section 3.3, give the Administrative Agent irrevocable telephonic (promptly confirmed in writing), written, telecopy telegraphic or telex notice in the form of Exhibit B with respect to each Loan (i) in the case of a LIBO Rate Loan, not later than 10:30 12:00 noon, New York City time, one Business Day before such Revolving Loan is to be made if such Revolving Loan is to be an ABR Loan and (ii) not later than 10:00 a.m., New York City time, three Business Days before such Revolving Loan is to be made if such Revolving Loan is to be a proposed borrowing, and (ii) in the case of a Reference Rate Eurodollar Loan, not later than 10:30 a.m., New York City time, on the date of a proposed borrowing. Such notice shall be irrevocable (except that in the case of a LIBO Rate Loan, such Borrower may, subject to Section 2.13, revoke such notice by giving written or telex notice thereof to the Administrative Agent not later than 10:30 a.m., New York City time, two Business Days before such proposed borrowing) and shall in each case refer to this Agreement and specify (1A) whether the Borrower to which the Revolving Loan then being requested is to be made, (2) whether the Loan then being requested is to be a Reference Rate an ABR Loan or LIBO Rate a Eurodollar Loan, (3B) the date of such Loan (which shall be a Business Day) the proposed borrowing and amount thereof, thereof and (4C) if such Revolving Loan is to be a LIBO Rate Eurodollar Loan, the Interest Period or Interest Periods (which shall not end after the Maturity Date) with respect thereto. If no election as to the type of Revolving Loan is specified in any such notice by such Borrowernotice, such the Revolving Loan shall be a Reference Rate an ABR Loan. If no Interest Period with respect to any LIBO Rate Eurodollar Loan is specified in any such notice by a Borrowernotice, then the applicable Borrower shall be deemed to have selected an Interest Period of one month's duration. The A notice requesting a Eurodollar Loan may condition such request upon an Adjusted LIBO Rate being less than a specified rate. If the Administrative Agent determines that the Adjusted LIBO Rate will exceed the maximum specified by the Borrower, the Administrative Agent shall promptly advise notify the other Banks of any notice given by Borrower and such request shall be deemed a Borrower pursuant to this Section 2.3(a) and of each Bank's portion of the requested request for an ABR Loan.
(b) Each The Borrower may continue any Eurodollar Loan or convert all or any part of any ABR Loan as or Eurodollar Loan into a Loan of the same or a different type type, in each case in accordance with Section 2.10 2.12 hereof and subject to the limitations set forth herein. If a Borrower shall not have delivered a borrowing notice in accordance with this Section 2.3 prior to the end of the Interest Period then in effect for any Loan of such Borrower requesting that such Loan be converted or continued as permitted hereby, then such Borrower shall (unless the Borrower has notified the Administrative Agent, not less than three Business Days prior to the end of such Interest Period, that such Loan is to be repaid at the end of such Interest Period) be deemed to have delivered a borrowing notice pursuant to Section 2.3 requesting that such Loan be converted into or continued as a Reference Rate Loan of equivalent amounttherein.
(c) Notwithstanding any provision to the contrary in this Agreement, no The Borrower shall not request from the Administrative Agent more than 6 new Eurodollar Loans or conversions to Eurodollar Loans from ABR Loans in any borrowing notice under this Section 2.3 request any LIBO Rate Loan which, if made, would result in more than 20 separate LIBO Rate Loans of any Bank. For purposes of the foregoing, Loans having different Interest Periods, regardless of whether they commence on the same date, shall be considered separate Loansone calendar month.
Appears in 1 contract