Common use of NOTICE OF REQUEST FOR LENDER ADVANCES Clause in Contracts

NOTICE OF REQUEST FOR LENDER ADVANCES. Subject to the last sentence of this Section, the Agent shall give each Lender prompt notice by telephone or facsimile transmission of a Notice of Borrowing that is received pursuant to Section 2.2(a) and is to be satisfied by Lender Advances. No later than 3:00 P.M. Chicago time on the date of receipt of such notice, each Lender shall make available for the account of its Applicable Lending Office to the Agent at the Agent's address for deposit into the Loan Disbursement Account, its Proportionate Share of such Borrowing in immediately available funds. Unless the Agent receives contrary written notice prior to any such Borrowing, it is entitled to assume that each Lender will make available its Proportionate Share of the Borrowing and in reliance upon that assumption, but without any obligation to do so, may advance such Proportionate Share on behalf of the Lender, without the necessity of giving daily notice to each Lender of the receipt of a Notice of Borrowing.

Appears in 3 contracts

Samples: Credit Agreement (Florsheim Group Inc), Credit Agreement (Venture Stores Inc), Credit Agreement (Florsheim Group Inc)

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NOTICE OF REQUEST FOR LENDER ADVANCES. Subject to the last sentence of this Section, the Agent shall give each Lender prompt notice by telephone or facsimile transmission of a Notice of Borrowing that is received pursuant to Section SECTION 2.2(a) and is to be satisfied by Lender Advances. No later than 3:00 P.M. Chicago time on the date of receipt of such notice, each Lender shall make available for the account of its Applicable Lending Office to the Agent at the Agent's address for deposit into the Loan Disbursement Account, its Proportionate Share of such Borrowing in immediately available funds. Unless the Agent receives contrary written notice prior to any such Borrowing, it is entitled to assume that each Lender will make available its Proportionate Share of the Borrowing and in reliance upon that assumption, but without any obligation to do so, may advance such Proportionate Share on behalf of the Lender, without the necessity of giving daily notice to each Lender of the receipt of a Notice of Borrowing.

Appears in 3 contracts

Samples: Credit Agreement (Metal Management Inc), Credit Agreement (Metal Management Inc), Credit Agreement (Hutchinson Products Corp)

NOTICE OF REQUEST FOR LENDER ADVANCES. Subject to the last sentence of this Section, the Agent shall give each Lender prompt notice by telephone or facsimile transmission of a Notice of Borrowing that is received pursuant to Section 2.2(a) and is to be satisfied by Lender Advances. No later than 3:00 P.M. p.m. Chicago time on the date of receipt of such notice, each Lender shall make available for the account of its Applicable Lending Office to an account specified by the Agent at the Agent's address for deposit into the Loan Disbursement Account, its Proportionate Share of such Borrowing in immediately available funds. Unless the Agent receives contrary written notice prior to any such Borrowing, it is entitled to assume that each Lender will make available its Proportionate Share of the Borrowing and in reliance upon that assumption, but without any obligation to do so, may advance such Proportionate Share on behalf of the Lender, without the necessity of giving daily notice to each Lender of the receipt of a Notice of Borrowing.

Appears in 1 contract

Samples: Credit Agreement (Metal Management Inc)

NOTICE OF REQUEST FOR LENDER ADVANCES. Subject to the last sentence of this Section, the Agent shall give each Revolving Lender prompt notice by telephone or facsimile transmission of a Notice of Borrowing that is received pursuant to Section SECTION 2.2(a) and is to be satisfied by Lender Advances. No later than 3:00 P.M. Chicago time on the date of receipt of such notice, each Revolving Lender shall make available for the account of its Applicable Lending Office to an account specified by the Agent at the Agent's address for deposit into the Loan Disbursement Account, its Proportionate Share of such Borrowing in immediately available funds. Unless the Agent receives contrary written notice prior to any such Borrowing, it is entitled to assume that each Revolving Lender will make available its Proportionate Share of the Borrowing and in reliance upon that assumption, but without any obligation to do so, may advance such Proportionate Share on behalf of the such Revolving Lender, without the necessity of giving daily notice to each Revolving Lender of the receipt of a Notice of Borrowing.

Appears in 1 contract

Samples: Credit Agreement (Metal Management Inc)

NOTICE OF REQUEST FOR LENDER ADVANCES. Subject to the ------------------------------------- last sentence of this Section, the Agent shall give each Lender prompt notice by telephone or facsimile transmission of a Notice of Borrowing that is received pursuant to Section 2.2(a3.2(a) and is to be satisfied by Lender Advances. No later than 3:00 P.M. Chicago time on the date of receipt of such notice, each Lender shall make available for the account of its Applicable Lending Office to the Agent at the Agent's address for deposit into the Loan Disbursement Account, its Proportionate Share of such Borrowing in immediately available funds. Unless the Agent receives contrary written notice prior to any such Borrowing, it is entitled to assume that each Lender will make available its Proportionate Share of the Borrowing and in reliance upon that assumption, but without any obligation to do so, may advance such Proportionate Share on behalf of the Lender, without the necessity of giving daily notice to each Lender of the receipt of a Notice of Borrowing.

Appears in 1 contract

Samples: Credit Agreement (Envirodyne Industries Inc)

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NOTICE OF REQUEST FOR LENDER ADVANCES. Subject to the last sentence of this Section, the Agent shall give each Lender prompt notice by telephone or facsimile transmission of a Notice of Borrowing that is received pursuant to Section SECTION 2.2(a) and is to be satisfied by Lender Advances. No later than 3:00 P.M. Chicago time on the date of receipt of such notice, each Lender shall make available for the account of its Applicable Lending Office to an account specified by the Agent at the Agent's address for deposit into the Loan Disbursement Account, its Proportionate Share of such Borrowing in immediately available funds. Unless the Agent receives contrary written notice prior to any such Borrowing, it is entitled to assume that each Lender will make available its Proportionate Share of the Borrowing and in reliance upon that assumption, but without any obligation to do so, may advance such Proportionate Share on behalf of the Lender, without the necessity of giving daily notice to each Lender of the receipt of a Notice of Borrowing.

Appears in 1 contract

Samples: Credit Agreement (Metal Management Inc)

NOTICE OF REQUEST FOR LENDER ADVANCES. Subject to the last sentence of this Section, the Agent shall give each Lender prompt notice by telephone or facsimile transmission of a Notice of Borrowing that is received pursuant to Section 2.2(a) 2.2.1 and is to be satisfied by Lender Advances. No later than 3:00 P.M. p.m. Chicago time on the date of receipt of such notice, each Lender shall make available for the account of its Applicable Lending Office to an account specified by the Agent at the Agent's address for deposit into the Loan Disbursement Account, its Proportionate Share of such Borrowing in immediately available funds. Unless the Agent receives contrary written notice prior to any such Borrowing, it is entitled to assume that each Lender will make available its Proportionate Share of the Borrowing and in reliance upon that assumption, but without any obligation to do so, may advance such Proportionate Share on behalf of the Lender, without the necessity of giving daily notice to each Lender of the receipt of a Notice of Borrowing.

Appears in 1 contract

Samples: Credit Agreement (Metal Management Inc)

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