Common use of Notification of Advances, Interest Rates and Prepayments Clause in Contracts

Notification of Advances, Interest Rates and Prepayments. The Administrative Agent will notify each Bank of the contents of each Borrowing Notice, Notice of Conversion/Continuation (or automatic conversion pursuant to Section 2.2.4(c)), and payment notice received by it hereunder promptly and in any event (provided such items were timely received by the Administrative Agent from the Company) before the close of business on the same Business Day of receipt thereof (or, in the case of borrowing notices with respect to Base Rate Advances, within one (1) hour of receipt thereof). The Administrative Agent will notify each Bank of the interest rate applicable to each Term Rate Advance promptly upon determination of such interest rate and will give each Bank prompt notice of each change in the Base Rate in respect of any outstanding Base Rate Advance.

Appears in 3 contracts

Samples: Credit Agreement (NIKE, Inc.), Credit Agreement (NIKE, Inc.), Credit Agreement (NIKE, Inc.)

AutoNDA by SimpleDocs

Notification of Advances, Interest Rates and Prepayments. The Administrative Agent will notify each Bank of the contents of each Ratable Borrowing Notice, Notice of Conversion/Continuation (or automatic conversion pursuant to Section 2.2.4(c)), and payment notice received by it hereunder promptly and in any event (provided such items were timely received by the Administrative Agent from the CompanyBorrower) before the close of business on the same Business Day of receipt thereof (or, in the case of borrowing notices with respect to Base Floating Rate Advances, within one (1) hour of receipt thereof). The Administrative Agent will notify each Bank of the interest rate applicable to each Term Fixed Rate Advance promptly upon determination of such interest rate and will give each Bank prompt notice of each change in the Base Rate in respect of any outstanding Base Floating Rate Advance.

Appears in 2 contracts

Samples: Credit Agreement (Nike Inc), Credit Agreement (Nike Inc)

Notification of Advances, Interest Rates and Prepayments. The Administrative Agent will notify each Applicable Bank of the contents of each Ratable Borrowing Notice, Notice of Conversion/Continuation (or automatic conversion pursuant to Section subsection 2.2.4(c)), and payment notice received by it hereunder promptly and in any event (provided such items were timely received by the Administrative Agent from the CompanyBorrower) before the close of business on the same Business Day of receipt thereof (or, in the case of borrowing notices with respect to Base Floating Rate Advances, within one (1) hour of receipt thereof). The Administrative Agent will notify each Applicable Bank of the interest rate applicable to each Term Fixed Rate Advance promptly upon determination of such interest rate and will give each Applicable Bank prompt notice of each change in the Alternate Base Rate in respect of any outstanding Base Floating Rate Advance.

Appears in 1 contract

Samples: Credit Agreement (Nike Inc)

Notification of Advances, Interest Rates and Prepayments. The Administrative Agent will notify each Bank of the contents of each Ratable Borrowing Notice, Notice of Conversion/Continuation (or automatic conversion pursuant to Section subsection 2.2.4(c)), and payment notice received by it hereunder promptly and in any event (provided such items were timely received by the Administrative Agent from the CompanyBorrowers) before the close of business on the same Business Day of receipt thereof (or, in the case of borrowing notices with respect to Base Floating Rate Advances, within one (1) hour of receipt thereof). The Administrative Agent will notify each Bank of the interest rate applicable to each Term Fixed Rate Advance promptly upon determination of such interest rate and will give each Bank prompt notice of each change in the Alternate Base Rate in respect of any outstanding Base Floating Rate Advance.

Appears in 1 contract

Samples: Credit Agreement (Nike Inc)

AutoNDA by SimpleDocs

Notification of Advances, Interest Rates and Prepayments. The Administrative Agent will notify each Bank of the contents of each Ratable Borrowing Notice, Notice of Conversion/Continuation (or automatic conversion pursuant to Section subsection 2.2.4(c)), and payment notice received by it hereunder promptly and in any event (provided such items were timely received by the Administrative Agent from the CompanyBorrower) before the close of business on the same Business Day of receipt thereof (or, in the case of borrowing notices with respect to Base Floating Rate Advances, within one (1) hour of receipt thereof). The Administrative Agent will notify each Bank of the interest rate applicable to each Term Fixed Rate Advance promptly upon determination of such interest rate and will give each Bank prompt notice of each change in the Base Rate in respect of any outstanding Base Floating Rate Advance.

Appears in 1 contract

Samples: Credit Agreement (Nike Inc)

Notification of Advances, Interest Rates and Prepayments. The Administrative Agent will notify each Bank of the contents of each Ratable Borrowing Notice, Notice of Conversion/Continuation (or automatic conversion pursuant to Section 2.2.4(c)), and payment notice received by it ________________ hereunder promptly and in any event (provided such items were timely received by the Administrative Agent from the CompanyBorrower) before the close of business on the same Business Day of receipt thereof (or, in the case of borrowing notices with respect to Base Floating Rate Advances, within one (1) hour of receipt thereof). The Administrative Agent will notify each Bank of the interest rate applicable to each Term Fixed Rate Advance promptly upon determination of such interest rate and will give each Bank prompt notice of each change in the Base Rate in respect of any outstanding Base Floating Rate Advance.

Appears in 1 contract

Samples: Credit Agreement (Nike Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!