Common use of Notice to the Administrative Agent Clause in Contracts

Notice to the Administrative Agent. In order for any Borrower to borrow any Committed Revolving Loans or for the Company to borrow Term Loans, the Company (acting on behalf of the applicable Borrower) shall give telephonic or telecopy notice to the Administrative Agent (which notice shall, except as provided in Section 2.1(c) hereof, be irrevocable once given and, if by telephone, shall, except as provided in Section 2.1(c) hereof, be promptly confirmed in writing) (i) by no later than 2:00 p.m. (Chicago time) on the date at least four (4) Business Days before the date of each requested Borrowing of Eurocurrency Loans denominated in an Alternative Currency, (ii) by no later than 2:00 p.m. (Chicago time) on the date at least three (3) Business Days before the date of each requested Borrowing of Eurocurrency Loans denominated in U.S. Dollars, and (iii) by no later than 10:00 a.m. (Chicago time) on the date of each requested Borrowing of Domestic Rate Loans. Each such notice shall specify the date of the requested Borrowing (which shall be a Business Day), the amount of the requested Borrowing, the type of Loans to comprise such Borrowing, if such Borrowing is to be comprised of Eurocurrency Loans, the Interest Period applicable thereto and the currency in which such Loan is to be denominated and, if such Borrowing (in the case of a Committed Revolving Loan only) is to be made by a Borrowing Subsidiary, the Borrowing Subsidiary for whose account such Loan shall be disbursed. Each Borrower agrees that the Administrative Agent may rely on any such telephonic or telecopy notice, and any notice under Section 2, given by any person who identifies himself or herself as being an Authorized Representative without the necessity of independent investigation and, in the event any telephonic notice conflicts with the written confirmation, such notice shall govern if the Administrative Agent has acted in reliance thereon. Term Loans may only be borrowed in U.S. Dollars.

Appears in 2 contracts

Samples: Multicurrency Credit Agreement (General Binding Corp), Multicurrency Credit Agreement (General Binding Corp)

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Notice to the Administrative Agent. In order for any The Borrower to borrow any Committed Revolving Loans or for the Company to borrow Term Loans, the Company (acting on behalf of the applicable Borrower) shall give telephonic or telecopy notice to the Administrative Agent (which notice shall, except as provided in Section 2.1(c) hereof, be irrevocable once given and, if by telephone, shall, except as provided in Section 2.1(c) hereof, be promptly confirmed in writing) (i) by no later than 2:00 p.m. (Chicago timei) on the date at least four (4) Business Days before the date of each requested Borrowing of Eurocurrency Loans denominated in an Alternative Currency, (ii) by no later than 2:00 p.m. (Chicago time) on the date 12:00 P.M. at least three (3) Business Days before the date on which the Borrower requests the Lenders to advance a Borrowing comprised of each requested Borrowing of Eurocurrency Loans denominated in U.S. DollarsEurodollar Loans, and (iiiii) by no later than 10:00 a.m. (Chicago time) 12:00 P.M. on the date the Borrower requests the Lenders to advance a Borrowing comprised of each requested Borrowing of Domestic Base Rate Loans, in each case pursuant to a duly completed Borrowing Request substantially in the form of Exhibit 2.3 (each a “Borrowing Request”) executed on behalf of Borrower by two of its officers. Each such Borrowing Request shall be given by telephone or facsimile (which notice shall be irrevocable once given and, if by telephone, shall be promptly confirmed in writing) and shall specify (i) the date amount and Type of Term Loans to comprise such Borrowing, (ii) the requested Borrowing (funding date for such Borrowing, which shall be a Business Day), the amount of the requested Borrowing, the type of Loans to comprise such Borrowing, and (iii) if such Borrowing is to be comprised of Eurocurrency Eurodollar Loans, the initial Interest Period applicable thereto and the currency in which such Loan is to be denominated and, if applicable to such Borrowing (in the case of a Committed Revolving Loan only) is to be made by a Borrowing Subsidiary, the Borrowing Subsidiary for whose account such Loan shall be disbursedBorrowing. Each The Borrower agrees that the Administrative Agent may rely on any such telephonic or telecopy notice, and any facsimile notice under Section 2, given by any person who identifies himself or herself as being Person it in good faith believes is an Authorized Representative authorized representative of the Borrower without the necessity of independent investigation andand that, in the event if any telephonic such notice by telephone conflicts with the any written confirmation, such telephonic notice shall govern if the Administrative Agent has acted in reliance thereon. Term Loans may only be borrowed in U.S. Dollars.

Appears in 2 contracts

Samples: Term Credit Agreement (Transocean Inc), Term Credit Agreement (Transocean Inc)

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Notice to the Administrative Agent. In order for any Borrower to borrow any Committed Revolving Loans or for the Company to borrow Term Loans, the Company (acting on behalf of the applicable Borrower) shall give telephonic or telecopy notice to the Administrative Agent (which notice shall, except as provided in Section 2.1(c) hereof, be irrevocable once given and, if by telephone, shall, except as provided in Section 2.1(c) hereof, be promptly confirmed in writing) (i) by no later than 2:00 p.m. (Chicago time) on the date at least four (4) Business Days before the date of each requested Borrowing of Eurocurrency Loans denominated in an Alternative Currency, (ii) by no later than 2:00 p.m. (Chicago time) on the date at least three (3) Business Days before the date of each requested Borrowing of Eurocurrency Loans denominated in U.S. Dollars, and (iii) by no later than 10:00 a.m. (Chicago time) on the date of each requested Borrowing of Domestic Rate Loans. Each such notice shall specify the date of the requested Borrowing (which shall be a Business Day), the amount of the requested Borrowing, the type of Loans to comprise such Borrowing, if such Borrowing is to be comprised of Eurocurrency Loans, the Interest Period applicable thereto and the currency in which such Loan is to be denominated and, if such Borrowing (in the case of a Committed Revolving Loan only) is to be made by a Borrowing Subsidiary, the Borrowing Subsidiary for whose account such Loan shall be disbursed. Each Borrower agrees that the Administrative Agent may rely on any such telephonic or telecopy notice, and any notice under Section 2, given by any person who identifies himself or herself as being an Authorized Representative without the necessity of independent investigation and, in the event any telephonic notice conflicts with the written confirmation, such notice shall govern if the Administrative Agent has acted in reliance thereon. Term Loans may only be borrowed in U.S. Dollars.

Appears in 1 contract

Samples: Credit Agreement (General Binding Corp)

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