Common use of NOTICES RELATING TO ADVANCES Clause in Contracts

NOTICES RELATING TO ADVANCES. (a) BORROWER shall give AGENT written notice of each termination or reduction of the Total Commitment and, subject to any special notice requirements relating to BORROWER's exercise of any LIBOR Option, BORROWER shall give AGENT written notice of each borrowing and prepayment of each Advance (in each case, a "Borrowing Notice"). Each such written notice shall be irrevocable and shall be effective only if received by AGENT, subject to any special notice requirements relating to BORROWER's exercise of any LIBOR Option or termination or permanent reduction of the Revolving Loan, not later than 11 a.m., New York City time, on the date that is one Business Day prior to the date of the related termination, reduction or prepayment or on the date of the related borrowing. (b) Each such notice of termination or reduction shall specify the amount thereof. Each such notice of borrowing or prepayment shall specify the amount to be borrowed or prepaid, the date of borrowing or prepayment (which shall be a Business Day). (c) Notwithstanding the foregoing, as it relates to any borrowing of an Advance, AGENT may in its discretion rely on and act on oral requests made by BORROWER and the making of any requested Advance shall conclusively establish BORROWER's obligation to repay such Advance in accordance with this Agreement. (d) Also notwithstanding the foregoing, unless payment is otherwise timely made by BORROWER, the becoming due of any Advance or other obligation required to be paid under this Agreement or any Loan Document shall be deemed irrevocably to be a request by BORROWER for an Advance on the due date of, and in the amount required to pay, such Advance or other obligation which has become due. In addition, the presentation by BORROWER for payment by AGENT of any check or other item of payment drawn on any demand deposit account of BORROWER at AGENT shall be deemed irrevocably to be a request by BORROWER for an Advance in the amount of such check or other item of payment, provided, however, that BORROWER understands and agrees that AGENT has no obligation to honor drafts presented against any demand deposit account having insufficient balances even if BORROWER has the ability to borrow under the Revolving Loan. (e) AGENT shall notify the LENDERS of the content of each such Borrowing Notice on the next Settlement Date.

NOTICES RELATING TO ADVANCES. (a) BORROWER shall give AGENT written notice of each termination or reduction of the Total Commitment and, subject Subject to any special notice requirements relating to BORROWER's exercise of any LIBOR Option, BORROWER shall give AGENT LENDER written notice of each borrowing and prepayment of each Advance (in each case, a "Borrowing Notice"). Each such written notice shall be irrevocable and shall be effective only if received by AGENTLENDER, subject to any special notice requirements relating to BORROWER's exercise of any LIBOR Option or termination or permanent reduction of the Revolving LoanOption, not later than 11 a.m., New York City time, on the date that is one Business Day prior to the date of the related termination, reduction or prepayment or on the date of the related borrowing. (b) Each such notice of termination or reduction shall specify the amount thereof. Each such notice of borrowing or prepayment shall specify the amount to be borrowed or prepaid, the date of borrowing or prepayment (which shall be a Business Day). (c) Notwithstanding the foregoing, as it relates to any borrowing of an Advance, AGENT LENDER may in its discretion rely on and act on oral requests made by BORROWER and the making of any requested Advance shall conclusively establish BORROWER's obligation to repay such Advance in accordance with this Agreement. (d) Also notwithstanding the foregoing, unless payment is otherwise timely made by BORROWER, the becoming due of any Advance or other obligation required to be paid under this Agreement or any Loan Document shall be deemed irrevocably to be a request by BORROWER for an Advance on the due date of, and in the amount required to pay, such Advance or other obligation which has become due. In addition, the presentation by BORROWER for payment by AGENT LENDER of any check or other item of payment drawn on any demand deposit account of BORROWER at AGENT LENDER shall be deemed irrevocably to be a request by BORROWER for an Advance in the amount of such check or other item of payment, provided, however, that BORROWER understands and agrees that AGENT LENDER has no obligation to honor drafts presented against any demand deposit account having insufficient balances even if BORROWER has the ability to borrow under the Revolving Loan. (e) AGENT shall notify the LENDERS of the content of each such Borrowing Notice on the next Settlement Date.

NOTICES RELATING TO ADVANCES. (a) BORROWER shall give AGENT written notice of each termination or reduction of the Total Commitment and, subject Subject to any special notice requirements relating to BORROWER's ’s exercise of any LIBOR Option, BORROWER shall give AGENT LENDER written notice of each borrowing and prepayment of each Advance (in each case, a "“Borrowing Notice"”). Each such written notice shall be irrevocable and shall be effective only if received by AGENTLENDER, subject to any special notice requirements relating to BORROWER's ’s exercise of any LIBOR Option or termination or permanent reduction of the Revolving LoanOption, not later than 11 a.m., New York City time, on the date that is one Business Day prior to the date of the related termination, reduction or prepayment or on the date of the related borrowing. (b) Each such notice of termination or reduction shall specify the amount thereof. Each such notice of borrowing or prepayment shall specify the amount to be borrowed or prepaid, the date of borrowing or prepayment (which shall be a Business Day). (c) Notwithstanding the foregoing, as it relates to any borrowing of an Advance, AGENT LENDER may in its discretion rely on and act on oral requests made by BORROWER and the making of any requested Advance shall conclusively establish BORROWER's ’s obligation to repay such Advance in accordance with this Agreement. (d) Also notwithstanding the foregoing, unless payment is otherwise timely made by BORROWER, the becoming due of any Advance or other obligation required to be paid under this Agreement or any Loan Document shall be deemed irrevocably to be a request by BORROWER for an Advance on the due date of, and in the amount required to pay, such Advance or other obligation which has become due. In addition, the presentation by BORROWER for payment by AGENT LENDER of any check or other item of payment drawn on any demand deposit account of BORROWER at AGENT LENDER shall be deemed irrevocably to be a request by BORROWER for an Advance in the amount of such check or other item of payment, provided, however, that BORROWER understands and agrees that AGENT LENDER has no obligation to honor drafts presented against any demand deposit account having insufficient balances even if BORROWER has the ability to borrow under the Revolving Loan. (e) AGENT shall notify the LENDERS of the content of each such Borrowing Notice on the next Settlement Date.