Common use of Notice to and Payment by the Banks Clause in Contracts

Notice to and Payment by the Banks. (a) Promptly following the delivery of any Bank Notice relating to any request for a Revolving Loan under an Applicable Tranche (and in any event, prior to the Applicable Bank Funding Deadline), each Applicable Bank shall deposit in an account designated by the Administrative Agent for such purpose (and notified by the Administrative Agent to the Applicable Banks) in immediately available funds the proceeds of such Applicable Bank’s Applicable Percentage of the requested Advance. (b) Promptly following the delivery of any Bank Notice relating to any request for an Applicable Tranche Swingline Loan, each Applicable Tranche Swingline Bank agreeing to fund any such Applicable Tranche Swingline Loan shall (unless the Applicable Tranche Swingline Bank has received notice (by telephone or in writing) from the Administrative Agent or the Collateral Agent (including at the request of any Bank) prior to the Applicable Bank Funding Deadline plus an additional thirty (30) minutes which (x) directs such Applicable Tranche Swingline Bank not to make such Swingline Loan as a result of the limitations set forth in the proviso to the first sentence of Section 2.1(a), or (y) notifies such Applicable Tranche Swingline Bank that one or more of the applicable conditions specified in Article V is not then satisfied), subject to the terms and conditions hereof, not later than the Applicable Bank Funding Deadline plus an additional forty-five (45) minutes, deposit in the designated account of the Administrative Agent in immediately available funds the agreed upon proceeds of such requested Advance.

Appears in 9 contracts

Samples: Credit Agreement (Cme Group Inc.), Credit Agreement (Cme Group Inc.), Credit Agreement (Cme Group Inc.)

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Notice to and Payment by the Banks. (a) Promptly following the delivery of any Bank Notice relating to any request for a Revolving Loan under an Applicable Tranche (and in any event, prior to within the Applicable Bank Funding Deadline), each Applicable Bank shall deposit in an the designated account designated by of the Administrative Agent for such purpose (and notified by the Administrative Agent to the Applicable Banks) in immediately available funds the proceeds of such Applicable Bank’s Applicable Percentage of the requested Advance. (b) Promptly following the delivery of any Bank Notice relating to any request for an Applicable Tranche Swingline Loan, each Applicable Tranche Swingline Bank agreeing to fund any such Applicable Tranche Swingline Loan shall (unless the Applicable Tranche Swingline Bank has received notice (by telephone or in writing) from the Administrative Agent or the Collateral Agent (including at the request of any Bank) prior to the Applicable Bank Funding Deadline plus an additional thirty (30) minutes which (x) directs such Applicable Tranche Swingline Bank not to make such Swingline Loan as a result of the limitations set forth in the proviso to the first sentence of Section 2.1(a), or (y) notifies such Applicable Tranche Swingline Bank that one or more of the applicable conditions specified in Article V is not then satisfied), subject to the terms and conditions hereof, not later than the Applicable Bank Funding Deadline plus an additional forty-five (45) minutes, deposit in the designated account of the Administrative Agent in immediately available funds the agreed upon proceeds of such requested Advance.

Appears in 1 contract

Samples: Credit Agreement (Cme Group Inc.)

Notice to and Payment by the Banks. (a) a. Promptly following the delivery of any Bank Notice relating to any request for a Revolving Loan under an Applicable Tranche (and in any event, prior to the Applicable Bank Funding Deadline), each Applicable Bank shall deposit in an account designated by the Administrative Agent for such purpose (and notified by the Administrative Agent to the Applicable Banks) in immediately available funds the proceeds of such Applicable Bank’s Applicable Percentage of the requested Advance. (b) b. Promptly following the delivery of any Bank Notice relating to any request for an Applicable Tranche Swingline Loan, each Applicable Tranche Swingline Bank agreeing to fund any such Applicable Tranche Swingline Loan shall (unless the Applicable Tranche Swingline Bank has received notice (by telephone or in writing) from the Administrative Agent or the Collateral Agent (including at the request of any Bank) prior to the Applicable Bank Funding Deadline plus an additional thirty (30) minutes which (x) directs such Applicable Tranche Swingline Bank not to make such Swingline Loan as a result of the limitations set forth in the proviso to the first sentence of Section 2.1(a), or (y) notifies such Applicable Tranche Swingline Bank that one or more of the applicable conditions specified in Article V is not then satisfied), subject to the terms and conditions hereof, not later than the Applicable Bank Funding Deadline plus an additional forty-five (45) minutes, deposit in the designated account of the Administrative Agent in immediately available funds the agreed upon proceeds of such requested Advance.

Appears in 1 contract

Samples: Credit Agreement (Cme Group Inc.)

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Notice to and Payment by the Banks. (a) Promptly following the delivery of any Bank Notice relating to any request for a Revolving Loan under an Applicable Tranche (and in any event, prior to the Applicable Bank Funding Deadline), each Applicable Bank shall deposit in an the designated account designated by of the Administrative Agent for such purpose (and notified by the Administrative Agent to the Applicable Banks) in immediately available funds the proceeds of such Applicable Bank’s Applicable Percentage of the requested Advance. (b) Promptly following the delivery of any Bank Notice relating to any request for an Applicable Tranche Swingline Loan, each Applicable Tranche Swingline Bank agreeing to fund any such Applicable Tranche Swingline Loan shall (unless the Applicable Tranche Swingline Bank has received notice (by telephone or in writing) from the Administrative Agent or the Collateral Agent (including at the request of any Bank) prior to the Applicable Bank Funding Deadline plus an additional thirty (30) minutes which (x) directs such Applicable Tranche Swingline Bank not to make such Swingline Loan as a result of the limitations set forth in the proviso to the first sentence of Section 2.1(a), or (y) notifies such Applicable Tranche Swingline Bank that one or more of the applicable conditions specified in Article V is not then satisfied), subject to the terms and conditions hereof, not later than the Applicable Bank Funding Deadline plus an additional forty-five (45) minutes, deposit in the designated account of the Administrative Agent in immediately available funds the agreed upon proceeds of such requested Advance.

Appears in 1 contract

Samples: Credit Agreement (Cme Group Inc.)

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