Common use of Notices of Borrowing; Minimum Amounts Clause in Contracts

Notices of Borrowing; Minimum Amounts. Notice of Borrowing for (i) Lender Advances of Prime Rate Loans shall be given not later than 1:00 P.M. New York City time on the same Business Day of the proposed Borrowing and (ii) Agent Advances of Prime Rate Loans shall be given not later than 3:00 P.M. New York City time on the same Business Day of the proposed Borrowing. Notice of Borrowing for Eurodollar Rate Loans shall be given not later than 5:00 P.M. on the third Business Day prior to the proposed Borrowing. (i) Notices of Borrowing may be given under this Section by telephone or facsimile transmission, and, if by telephone, promptly confirmed in writing substantially in the form of Exhibit E. Once given, a Notice of Borrowing is irrevocable by and binding on the Borrower. (ii) The Borrower shall specify in each Notice of Borrowing whether the conditions for the requested Borrowing are satisfied and whether the requested Borrowing is of Prime Rate Loans or Eurodollar Rate Loans. The Borrower may request one or more Borrowings on the same Business Day. Each such Borrowing shall, unless otherwise specifically provided herein, consist entirely of Revolving Loans of the same Type and, if such Borrowing is to consist of Eurodollar Rate Loans, shall be in an aggregate amount for all Lenders of not less than $1,000,000 or an integral multiple of $100,000 in excess thereof. The right of the Borrower to choose Eurodollar Rate Loans is subject to the provisions of Section 4.8. (iii) On or prior to the Closing Date, the Borrower provided to the Agent a list, with specimen signatures, of officers authorized to request Revolving Loans, substantially in the form attached as Exhibit O to the Original Credit Agreement. The Agent is entitled to rely upon such list until it is replaced by the Borrower. The Agent shall have no duty to verify the authenticity of the signature appearing on any Notice of Borrowing or other writing delivered hereunder and, with respect to an oral request for Revolving Loans, the Agent shall have no duty to verify the identity of any individual representing himself as one of the officers authorized to make such request on behalf of the Borrower. Neither the Agent nor any of the Lenders shall incur any liability to the Borrower as a result of acting upon any telephonic notice the Agent believes in good faith to have been given by a duly authorized officer or other individual authorized to request Revolving Loans on behalf of the Borrower or for otherwise acting in good faith.

Appears in 2 contracts

Samples: Credit Agreement (Riverside Group Inc/Fl), Credit Agreement (Wickes Lumber Co /De/)

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Notices of Borrowing; Minimum Amounts. A Notice of Borrowing for (i) Lender Bank Advances of Prime Rate Loans shall be given not later than 1:00 P.M. P.M., New York City time time, on the same Business Day of prior to the proposed Borrowing and (ii) Agent Advances of Prime Rate Loans shall be given not later than 3:00 P.M. 1:00 P.M., New York City time time, on the same Business Day of prior to the proposed Borrowing. A Notice of Borrowing for Eurodollar Rate Loans shall be given not later than 5:00 P.M. P.M., New York City time, on the third Business Day prior to the proposed Borrowing. (iA) Notices of Borrowing may be given under this Section by telephone or facsimile transmission, and, if by telephone, promptly confirmed in writing substantially in the form of Exhibit E. writing. Once given, a Notice of Borrowing is irrevocable by and binding on the BorrowerCompany. (iiB) The Borrower Company shall specify in each Notice of Borrowing whether the conditions for the requested Borrowing are satisfied and whether the requested Borrowing is of Prime Rate Loans or Eurodollar Rate Loans. The Borrower Company may request one or more Borrowings on the same Business Day. Each such Borrowing shall, unless otherwise specifically provided herein, consist entirely of Revolving Loans of the same Type and, if such Borrowing is to consist of Eurodollar Rate Loans, shall be in an aggregate amount for all Lenders Banks of not less than $1,000,000 5,000,000 or in an integral multiple of $100,000 1,000,000 in excess thereof. The right of the Borrower Company to choose Eurodollar Rate Loans is subject to the provisions of Section 4.84.07. (iiiC) On or prior to the Closing Effective Date, the Borrower Company shall have provided to the Administrative Agent a list, with specimen signatures, of officers authorized to request Revolving Loans, substantially in the form attached to this Agreement as Exhibit O to the Original Credit AgreementA-1. The Administrative Agent is entitled to rely upon such list until it is replaced by the BorrowerCompany. The Administrative Agent shall have no duty to verify the authenticity of the signature appearing on any Notice of Borrowing or other writing delivered hereunder and, with respect to an oral request for Revolving Loans, the Administrative Agent shall have no duty to verify the identity of any individual representing himself as one of the officers authorized to make such request on behalf of the BorrowerCompany. Neither the Administrative Agent nor any of the Lenders Banks shall incur any liability to the Borrower Company as a result of acting upon any telephonic notice the Administrative Agent believes in good faith to have been given by a duly authorized officer or other individual authorized to request Revolving Loans on behalf of the Borrower Company or for otherwise acting in good faithfaith with respect to any such request for Loans.

Appears in 1 contract

Samples: Credit Agreement (Clark Refining & Marketing Inc)

Notices of Borrowing; Minimum Amounts. Notice of Borrowing for ------------------------------------- (i) Lender Advances of Prime Base Rate Loans shall be given not later than 1:00 P.M. New York City Noon Boston time on the same Business Day of the proposed Borrowing and (ii) Agent Advances of Prime Base Rate Loans shall be given not later than 3:00 P.M. New York City Boston time on the same Business Day of the proposed Borrowing. Notice of Borrowing for Eurodollar Rate Loans shall be given not later than 5:00 P.M. Boston time on the third Business Day prior to the proposed Borrowing. (i) Notices of Borrowing may be given under this Section by telephone or facsimile transmission, and, if by telephone, promptly confirmed in writing substantially in the form of Exhibit E. Once given, a Notice of Borrowing is irrevocable by and binding on the Borrower. (ii) The Borrower shall specify in each Notice of Borrowing whether the conditions for the requested Borrowing are satisfied and whether the requested Borrowing is of Prime Base Rate Loans or Eurodollar Rate Loans. The Borrower may request one or more Borrowings on the same Business Day. Each such Borrowing shall, unless otherwise specifically spe- cifically provided herein, consist entirely of Revolving Loans of the same Type and, if such Borrowing is to consist of Eurodollar Rate Loans, shall be in an aggregate amount for all Lenders of not less than $1,000,000 or an integral multiple of $100,000 in excess thereof. The right of the Borrower to choose Eurodollar Rate Loans is subject to the provisions of Section 4.84.7. (iii) On or prior to the Closing Date, the Borrower provided will provide to the Agent a list, with specimen signatures, of officers authorized to request Revolving Loans, substantially in the form attached as Exhibit O J to the Original this Credit Agreement. The Agent is entitled to rely upon such list until it is replaced by the Borrower. The Agent shall have no duty to verify the authenticity of the signature appearing on any Notice of Borrowing or other writing delivered hereunder and, with respect to an oral request for Revolving Loans, the Agent shall have no duty to verify the identity of any individual representing himself as one of the officers authorized to make such request on behalf of the Borrower. Neither the Agent nor any of the Lenders shall incur any liability to the Borrower as a result of acting upon any telephonic tele- phonic notice the Agent believes in good faith to have been given by a duly authorized officer or other individual authorized to request Revolving Re- volving Loans on behalf of the Borrower or for otherwise acting in good faith.

Appears in 1 contract

Samples: Credit Agreement (Wickes Inc)

Notices of Borrowing; Minimum Amounts. A Notice of Borrowing ------------------------------------- for (i) Lender Bank Advances of Prime Rate Loans shall be given not later than 1:00 P.M. P.M., New York City time time, on the same Business Day of the proposed Borrowing and (ii) Agent Advances of Prime Rate Loans shall be given not later than 3:00 P.M. P.M., New York City time time, on the same Business Day of the proposed Borrowing. A Notice of Borrowing for Eurodollar Rate Loans shall be given not later than 5:00 P.M. P.M., New York City time, on the third Business Day prior to the proposed Borrowing. (iA) Notices of Borrowing may be given under this Section by telephone or facsimile transmission, and, if by telephone, promptly confirmed in writing substantially in the form of Exhibit E. writing. Once given, a Notice of Borrowing is irrevocable by and binding on the BorrowerCompany. (iiB) The Borrower Company shall specify in each Notice of Borrowing whether the conditions for the requested Borrowing are satisfied and whether the requested Borrowing is of Prime Rate Loans or Eurodollar Rate Loans. The Borrower Company may request one or more Borrowings on the same Business Day. Each such Borrowing shall, unless otherwise specifically provided herein, consist entirely of Revolving Loans of the same Type and, if such Borrowing is to consist of Eurodollar Rate Loans, shall be in an aggregate amount for all Lenders Banks of not less than $1,000,000 5,000,000 or in an integral multiple of $100,000 1,000,000 in excess thereof. The right of the Borrower Company to choose Eurodollar Rate Loans is subject to the provisions of Section 4.84.07. (iiiC) On or prior to the Closing Effective Date, the Borrower Company shall have provided to the Administrative Agent a list, with specimen signatures, of officers authorized to request Revolving Loans, substantially in the form attached to this Agreement as Exhibit O to the Original Credit AgreementA-1. The Administrative Agent is entitled to rely ----------- upon such list until it is replaced by the BorrowerCompany. The Administrative Agent shall have no duty to verify the authenticity of the signature appearing on any Notice of Borrowing or other writing delivered hereunder and, with respect to an oral request for Revolving Loans, the Administrative Agent shall have no duty to verify the identity of any individual representing himself as one of the officers authorized to make such request on behalf of the BorrowerCompany. Neither the Administrative Agent nor any of the Lenders Banks shall incur any liability to the Borrower Company as a result of acting upon any telephonic notice the Administrative Agent believes in good faith to have been given by a duly authorized officer or other individual authorized to request Revolving Loans on behalf of the Borrower Company or for otherwise acting in good faithfaith with respect to any such request for Loans.

Appears in 1 contract

Samples: Credit Agreement (Clark Refining & Marketing Inc)

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Notices of Borrowing; Minimum Amounts. Notice of Borrowing for (i) ----------------------------------------- Lender Advances of Prime Base Rate Loans shall be given not later than 1:00 P.M. New York City Noon Boston time on the same Business Day of the proposed Borrowing and (ii) Agent Advances of Prime Base Rate Loans shall be given not later than 3:00 P.M. New York City Boston time on the same Business Day of the proposed Borrowing. Notice of Borrowing for Eurodollar Rate Loans shall be given not later than 5:00 P.M. Boston time on the third Business Day prior to the proposed Borrowing. (i) Notices of Borrowing may be given under this Section by telephone or facsimile transmission, and, if by telephone, promptly confirmed in writing substantially in the form of Exhibit E. F. Once given, a Notice of Borrowing is irrevocable by and binding on the Borrower. (ii) The Borrower shall specify in each Notice of Borrowing whether the conditions for the requested Borrowing are satisfied and whether the requested Borrowing is of Prime Base Rate Loans or Eurodollar Rate Loans. The Borrower may request one or more Borrowings on the same Business Day. Each such Borrowing shall, unless otherwise specifically provided herein, consist entirely of Revolving Loans of the same Type and, if such Borrowing is to consist of Eurodollar Rate Loans, shall be in an aggregate amount for all Revolving Lenders of not less than $1,000,000 or an integral multiple of $100,000 in excess thereof. The right of the Borrower to choose Eurodollar Rate Loans is subject to the provisions of Section 4.85.7. (iii) On or prior to the Closing Date, the Borrower provided will provide to the Agent a list, with specimen signatures, of officers authorized to request Revolving Loans, substantially in the form attached as Exhibit O J to the Original this Credit Agreement. The Agent is entitled to rely upon such list until it is replaced by the Borrower. The Agent shall have no duty to verify the authenticity of the signature appearing on any Notice of Borrowing or other writing delivered hereunder and, with respect to an oral request for Revolving Loans, the Agent shall have no duty to verify the identity of any individual representing himself as one of the officers authorized to make such request on behalf of the Borrower. Neither the Agent nor any of the Revolving Lenders shall incur any liability to the Borrower as a result of acting upon any telephonic notice the Agent believes in good faith to have been given by a duly authorized officer or other individual authorized to request Revolving Loans on behalf of the Borrower or for otherwise acting in good faith.

Appears in 1 contract

Samples: Credit Agreement (Wickes Inc)

Notices of Borrowing; Minimum Amounts. A Notice of Borrowing for (i) Lender Bank Advances of Prime Rate Loans shall be given not later than 1:00 P.M. p.m. (New York City time time), on the same Business Day of prior to the proposed Borrowing and (ii) Agent Advances of Prime Rate Loans shall be given not later than 3:00 P.M. 1:00 p.m. (New York City time time), on the same Business Day of prior to the proposed Borrowing. A Notice of Borrowing for Eurodollar Rate Loans shall be given not later than 5:00 P.M. p.m. (New York City time), on the third Business Day prior to the proposed Borrowing. (iA) Notices of Borrowing may be given under this Section by telephone or facsimile transmission, and, if by telephone, promptly confirmed in writing substantially in the form of Exhibit E. writing. Once given, a Notice of Borrowing is irrevocable by and binding on the BorrowerCompany. (iiB) The Borrower Company shall specify in each Notice of Borrowing whether the conditions for the requested Borrowing are satisfied and whether the requested Borrowing is of Prime Rate Loans or Eurodollar Rate Loans. The Borrower Company may request one or more Borrowings on the same Business Day. Each such Borrowing shall, unless otherwise specifically provided herein, consist entirely of Revolving Loans of the same Type and, if such Borrowing is to consist of Eurodollar Rate Loans, shall be in an aggregate amount for all Lenders Tranche 2 Banks of not less than $1,000,000 5,000,000 or in an integral multiple of $100,000 1,000,000 in excess thereof, unless such Loans are to be made pursuant to Section 3.05, whether by Bank Advance or Agent Advance, in which case the Administrative Agent may in its discretion waive such minimums. The right of the Borrower Company to choose Eurodollar Rate Loans is subject to the provisions of Section 4.84.07. (iiiC) On or prior to the Closing Effective Date, the Borrower Company shall have provided to the Administrative Agent a list, with specimen signatures, of officers authorized to request Revolving Loans, substantially in the form attached to this Agreement as Exhibit O A-1, or to request the Original Credit AgreementIssuance of Letters of Credit, substantially in the form attached to this Agreement as Exhibit A-2, and the amendments thereof. The Administrative Agent is entitled to rely upon such list until it is replaced by the BorrowerCompany. The Administrative Agent shall have no duty to verify the authenticity of the signature appearing on any Notice of Borrowing or other writing delivered hereunder and, with respect to an oral request for Revolving Loans, the Administrative Agent shall have no duty to verify the identity of any individual representing himself as one of the officers authorized to make such request on behalf of the BorrowerCompany. Neither the Administrative Agent nor any of the Lenders Tranche 2 Banks shall incur any liability to the Borrower Company as a result of acting upon any telephonic notice the Administrative Agent believes in good faith to have been given by a duly authorized officer or other individual authorized to request Revolving Loans on behalf of the Borrower Company or for otherwise acting in good faithfaith with respect to any such request for Loans.

Appears in 1 contract

Samples: Credit Agreement (Premcor Inc)

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