Common use of Obligation to Make Bid Rate Loans Clause in Contracts

Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than (i) 1:30 p.m. (Chicago time) on the proposed date of borrowing of Absolute Rate Loans and (ii) on the date three (3) Business Days prior to the proposed date of borrowing of Eurodollar Margin Loans) notify each Revolving Lender as to whose Bid Rate Quote has been accepted and the amount and rate thereof. A Revolving Lender who is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b). Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in respect of such Bid Rate Loan and be entitled to receive payment thereof when due. No Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 p.m. (Chicago time) on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation in immediately available funds, for the account of the Borrower. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available to the Borrower not later than 3:30 p.m. (Chicago time) on such date by depositing the same, in immediately available funds, in an account of the Borrower designated by the Borrower.

Appears in 4 contracts

Samples: Credit Agreement (Extra Space Storage Inc.), Credit Agreement (Extra Space Storage Inc.), Credit Agreement (Extra Space Storage Inc.)

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Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than (ix) 1:30 p.m. (Chicago time) New York City time on the proposed date of borrowing of Absolute Rate Loans and (iiy) on the date three (3) Business Days prior to the proposed date of borrowing of Eurodollar LIBOR Margin Loans) notify each Dollar Tranche Revolving Credit Lender as to whose Bid Rate Quote has been accepted and the amount and rate thereof. A Dollar Tranche Revolving Credit Lender who is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b13.6.(g). Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in respect of such Bid Rate Loan and be entitled to receive payment thereof when due. No Dollar Tranche Revolving Credit Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Dollar Tranche Revolving Credit Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 p.m. (Chicago time) New York City time on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation Principal Office in immediately available funds, for the account of the BorrowerCompany. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available to the Borrower Company not later than 3:30 p.m. (Chicago time) New York City time on such date by depositing the same, in immediately available funds, in an account of the Borrower Company designated by the BorrowerCompany.

Appears in 4 contracts

Samples: Credit Agreement (Park Hotels & Resorts Inc.), Credit Agreement (Park Hotels & Resorts Inc.), Credit Agreement (Park Hotels & Resorts Inc.)

Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than 12:00 noon (i) 1:30 p.m. (Chicago timex) on the proposed date of borrowing of Absolute Rate Loans and (iiy) on the date three (3) Business Days prior to the proposed date of borrowing of Eurodollar LIBOR Margin Loans) notify each Revolving Lender as to whose Bid Rate Quote has been accepted and the amount and rate thereof. A Revolving Lender who is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b12.5.(h). Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in respect of such Bid Rate Loan and be entitled to receive payment thereof when due. No Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 1:30 p.m. (Chicago time) on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation Principal Office in immediately available funds, for the account of the Borrower. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available to the Borrower not no later than 3:30 2:00 p.m. (Chicago time) on such date by depositing the same, in immediately available funds, in an account of the Borrower designated by the Borrower.

Appears in 3 contracts

Samples: Credit Agreement (Piedmont Office Realty Trust, Inc.), Credit Agreement (Sl Green Realty Corp), Credit Agreement (Sl Green Realty Corp)

Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than (ix) 1:30 2:30 p.m. (Chicago time) Eastern time on the proposed date of borrowing of Absolute Rate Loans and (iiy) on the date three (3) Business Days prior to the proposed date of borrowing of Eurodollar LIBOR Margin Loans) notify each Revolving Lender as to whose Bid Rate Quote has been accepted and the amount and rate thereof. A Revolving Lender who is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b12.6.(h). Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in respect of such Bid Rate Loan and be entitled to receive payment thereof when due. No Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 3:30 p.m. (Chicago time) Eastern time on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation Principal Office in immediately available funds, for the account of the Borrower. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available to the Borrower not later than 3:30 4:30 p.m. (Chicago time) Eastern time on such date by depositing the same, in immediately available funds, in an account of the Borrower designated by the Borrower.

Appears in 3 contracts

Samples: Credit Agreement (Regency Centers Lp), Credit Agreement (Regency Centers Lp), Credit Agreement (Regency Centers Lp)

Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than 12:00 noon (i) 1:30 p.m. (Chicago timex) on the proposed date of borrowing of Absolute Rate Loans and (iiy) on the date three (3) Business Days prior to the proposed date of borrowing of Eurodollar LIBOR Margin Loans) notify each Revolving Lender as to whose Bid Rate Quote has been accepted and the amount and rate thereof. A Revolving Lender who is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b12.5.(e). Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in respect of under such Bid Rate Loan and be entitled to receive payment thereof when due. No Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 1:30 p.m. (Chicago time) on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation Principal Office in immediately available funds, for the account of the Borrower. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available to the Borrower not no later than 3:30 2:00 p.m. (Chicago time) on such date by depositing the same, in immediately available funds, in an account of the Borrower designated by the Borrower.

Appears in 3 contracts

Samples: Credit Agreement (Federal Realty Investment Trust), Credit Agreement (Commercial Net Lease Realty Inc), Credit Agreement (Federal Realty Investment Trust)

Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than (ix) 1:30 p.m. (Chicago time) 11:30 a.m. Pacific time on the proposed date of borrowing of Absolute Rate Loans and (iiy) on the date three (3) 3 Business Days prior to the proposed date of borrowing of Eurodollar LIBOR Margin Loans) notify each Revolving Lender that submitted a Bid Rate Quote as to whose Bid Rate Quote has been accepted and the amount and rate thereof. A Revolving Lender who is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b12.5.(d). Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in respect of such Bid Rate Loan and be entitled to receive payment thereof when due. No Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 12:30 p.m. (Chicago time) Pacific time on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation Principal Office in immediately available funds, for the account of the Borrower. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available to the Borrower not later than 3:30 1:30 p.m. (Chicago time) Pacific time on such date by depositing the same, in immediately available funds, in an account of the Borrower designated by the Borrower.

Appears in 2 contracts

Samples: Credit Agreement (United Dominion Realty L P), Credit Agreement (United Dominion Realty L P)

Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than (ix) 1:30 p.m. (Chicago time) 10:00 a.m. San Francisco time on the proposed date of borrowing of Absolute Rate Loans and (iiy) on the date three (3) Business Days prior to the proposed date of borrowing of Eurodollar LIBOR Margin Loans) notify each Revolving Lender that submitted a Bid Rate Quote as to whose Bid Rate Quote has been accepted and the amount and rate thereof. A Revolving Lender who is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b13.7.(d). Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in respect of under such Bid Rate Loan and be entitled to receive payment thereof when due. No Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 p.m. (Chicago time) 11:00 a.m. San Francisco time on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation Principal Office in immediately available funds, for the account of the Borrower. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available to the Borrower not later than 3:30 p.m. (Chicago time) 12:00 noon on such date by depositing the same, in immediately available funds, in an account of the Borrower designated by the Borrower.

Appears in 2 contracts

Samples: Credit Agreement (Regency Centers Lp), Credit Agreement (Regency Centers Corp)

Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than (ix) 1:30 p.m. (Chicago time) 10:00 a.m. on the proposed date of borrowing of Absolute Rate Loans and (iiy) on the date three (3) Business Days prior to the proposed date of borrowing of Eurodollar LIBOR Margin Loans) notify each Revolving Lender that submitted a Bid Rate Quote as to whose Bid Rate Quote has been accepted and the amount and rate thereof. A Revolving Lender who is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b13.6(d). Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in respect of under such Bid Rate Loan and be entitled to receive payment thereof when due. No Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 p.m. (Chicago time) 11:00 a.m. on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation Principal Office in immediately available funds, for the account of the Borrower. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made make the amount so received available to the Borrower not later than 3:30 p.m. (Chicago time) 12:00 noon on such date by depositing the same, in immediately available funds, in an account of the Borrower designated by the Borrower.

Appears in 2 contracts

Samples: Credit Agreement (Equity One Inc), Credit Agreement (Equity One, Inc.)

Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than (ix) 1:30 1:00 p.m. (Chicago timeCentral Time) on the Business Day immediately preceding the proposed date of borrowing of Absolute Rate Loans and (iiy) on the date three (3) Business Days prior to the proposed date of borrowing of Eurodollar LIBOR Margin Loans) notify each Revolving Lender as to whose Bid Rate Quote has been accepted and the amount and rate thereof. A Revolving Lender who is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b)13.5. Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in respect of such Bid Rate Loan and be entitled to receive payment thereof when due. No Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 p.m. 11:00 a.m. (Chicago timeCentral Time) on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation the Administrative Office in immediately available funds, for the account of the Borrower. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available to the Borrower not later than 3:30 12:00 p.m. (Chicago timeCentral Time) on such date by depositing the same, in immediately available funds, in an account of the Borrower designated by the Borrower.

Appears in 2 contracts

Samples: Unsecured Revolving Credit Agreement (First Industrial Realty Trust Inc), Unsecured Revolving Credit Agreement (First Industrial Realty Trust Inc)

Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than (ix) 1:30 p.m. (Chicago time) 12:00 noon on the proposed date of borrowing of Absolute Rate Loans and (iiy) on the date three (3) Business Days prior to the proposed date of borrowing of Eurodollar LIBOR Margin Loans) notify each Revolving Lender as to whose Bid Rate Quote has been accepted and the amount and rate thereof. In addition, the Agent shall promptly notify each Lender submitting a Bid Rate Quote the of the range of Bid Rate Quotes accepted. A Revolving Lender who is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b12.5.(e). Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in respect of under such Bid Rate Loan and be entitled to receive payment thereof when due. No Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 1:30 p.m. (Chicago time) on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation Principal Office in immediately available funds, for the account of the Borrower. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available to the Borrower not no later than 3:30 2:00 p.m. (Chicago time) on such date by depositing the same, in immediately available funds, in an account of the Borrower designated by the Borrower.

Appears in 2 contracts

Samples: Credit Agreement (United Dominion Realty Trust Inc), Credit Agreement (United Dominion Realty Trust Inc)

Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than (ix) 1:30 p.m. (Chicago time) Central Time on the proposed date of borrowing of Absolute Rate Loans and (iiy) on the date three (3) Business Days prior to the proposed date of borrowing of Eurodollar LIBOR Margin Loans) notify each Revolving Lender that submitted a Bid Rate Quote as to whose Bid Rate Quote has been accepted and the amount and rate thereof. A Revolving Lender who which is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b12.5(d). Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in respect of such Bid Rate Loan and be entitled to receive payment thereof when due. No Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 p.m. (Chicago time) Central Time on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation Principal Office in immediately available funds, for the account of the Borrower. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available to the Borrower not later than 3:30 p.m. (Chicago time) Central Time on such date by depositing the same, in immediately available funds, in an the account of the Borrower designated by in the BorrowerDisbursement Instruction Agreement.

Appears in 2 contracts

Samples: Credit Agreement (American Homes 4 Rent, L.P.), Credit Agreement (American Homes 4 Rent)

Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than (ix) 1:30 p.m. (Chicago time) 10:00 a.m. on the proposed date of borrowing of Absolute Rate Loans and (iiy) on the date three (3) Business Days prior to the proposed date of borrowing of Eurodollar LIBOR Margin Loans) notify each Revolving Lender that submitted a Bid Rate Quote as to whose Bid Rate Quote has been accepted and the amount and rate thereof. A Revolving Lender who is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b)12.8. Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in respect of under such Bid Rate Loan and be entitled to receive payment thereof when due. No Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 p.m. (Chicago time) 11:00 a.m. on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation Principal Office in immediately available funds, for the account of the Borrower. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available to the Borrower not later than 3:30 p.m. (Chicago time) 12:00 noon on such date by depositing the same, in immediately available funds, in an account of the Borrower designated by the Borrower.

Appears in 2 contracts

Samples: Credit Agreement (Regency Realty Corp), Credit Agreement (Regency Realty Corp)

Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than (ix) 1:30 p.m. (Chicago time) 12:00 noon Eastern time on the proposed date of borrowing of Absolute Rate Loans and (iiy) on the date three (3) Business Days prior to the proposed date of borrowing of Eurodollar LIBOR Margin Loans) notify each Revolving Lender as to whose Bid Rate Quote has been accepted and the amount and rate thereof. A Revolving Lender who is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b12.5.(h). Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in respect of such Bid Rate Loan and be entitled to receive payment thereof when due. No Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 1:30 p.m. (Chicago time) Eastern time on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation Principal Office in immediately available funds, for the account of the BorrowerBorrower to whom such Bid Rate Loan is to be made. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available to the such Borrower not later than 3:30 2:00 p.m. (Chicago time) Eastern time on such date by depositing the same, in immediately available funds, in an account of the such Borrower designated by the BorrowerBorrower Representative.

Appears in 2 contracts

Samples: Assignment and Assumption Agreement (Sl Green Operating Partnership, L.P.), Credit Agreement (Sl Green Operating Partnership, L.P.)

Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than (ix) 1:30 p.m. (Chicago time) 12:00 noon Eastern time on the proposed date of borrowing of Absolute Rate Loans and (iiy) on the date three (3) 3 Business Days prior to the proposed date of borrowing of Eurodollar LIBOR Margin Loans) notify each Revolving Lender that submitted a Bid Rate Quote as to whose Bid Rate Quote has been accepted and the amount and rate thereof. A Revolving Lender who is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b12.5.(g). Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in respect of such Bid Rate Loan and be entitled to receive payment thereof when due. No Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 p.m. (Chicago time) 11:00 a.m. Eastern time on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation Principal Office in immediately available funds, for the account of the Borrower. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available to the Borrower not later than 3:30 p.m. (Chicago time) 12:00 noon Eastern time on such date by depositing the same, in immediately available funds, in an account of the Borrower designated by the Borrower.

Appears in 2 contracts

Samples: Credit Agreement (Washington Real Estate Investment Trust), Credit Agreement (Washington Real Estate Investment Trust)

Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than (ix) 1:30 p.m. (Chicago time) 11:30 a.m. Pacific time on the proposed date of borrowing of Absolute Rate Loans and (iiy) on the date three (3) Business Days prior to the proposed date of borrowing of Eurodollar LIBOR Margin Loans) notify each Revolving Lender as to whose Bid Rate Quote has been accepted and the amount and rate thereof. A Revolving Lender who is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b12.6.(d). Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in respect of such Bid Rate Loan and be entitled to receive payment thereof when due. No Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 12:30 p.m. (Chicago time) Pacific time on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation Principal Office in immediately available funds, for the account of the Borrower. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available to the Borrower not later than 3:30 1:30 p.m. (Chicago time) Pacific time on such date by depositing the same, in immediately available funds, in an account of the Borrower designated by the Borrower.

Appears in 2 contracts

Samples: Credit Agreement (Federal Realty Investment Trust), Credit Agreement (Federal Realty Investment Trust)

Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than (ix) 1:30 p.m. (Chicago time) 11:30 a.m. on the proposed date of borrowing of Absolute Rate Loans and (iiy) on the date three (3) Business Days prior to the proposed date of borrowing of Eurodollar LIBOR Margin Loans) notify each Revolving Lender as to whose Bid Rate Quote has been accepted and the amount and rate thereof. A Revolving Lender who is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b12.5.(h). Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in respect of such Bid Rate Loan and be entitled to receive payment thereof when due. No Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 12:30 p.m. (Chicago time) on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation Principal Office in immediately available funds, for the account of the Borrower. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available to the Borrower not later than 3:30 1:30 p.m. (Chicago time) on such date by depositing the same, in immediately available funds, in an account of the Borrower designated by the Borrower.

Appears in 2 contracts

Samples: Credit Agreement (Corporate Office Properties, L.P.), And Consolidated Credit Agreement (Corporate Office Properties, L.P.)

Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than (ix) 1:30 1:00 p.m. (Chicago time) on the proposed date of borrowing of Absolute Rate Loans and (iiy) on the date three (3) Business Days prior to the proposed date of borrowing of Eurodollar LIBOR Margin Loans) notify each Revolving Lender as to whose Bid Rate Quote has been accepted and the amount and rate thereof. A Revolving Lender who is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b12.5.(e). Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in respect of such Bid Rate Loan and be entitled to receive payment thereof when due. No Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 p.m. (Chicago time) on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation Principal Office in immediately available funds, for the account of the Borrower. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available to the Borrower not no later than 3:30 p.m. (Chicago time) on such date by depositing the same, in immediately available funds, in an account of the Borrower designated by the Borrower.

Appears in 2 contracts

Samples: Credit Agreement (Heritage Property Investment Trust Inc), Credit Agreement (Heritage Property Investment Trust Inc)

Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than (ix) 1:30 p.m. (Chicago time) 11:30 a.m. Pacific time on the proposed date of borrowing of Absolute Rate Loans and (iiy) on the date three (3) 3 Business Days prior to the proposed date of borrowing of Eurodollar LIBOR Margin Loans) notify each Tranche 1 Revolving Lender that submitted a Bid Rate Quote as to whose Bid Rate Quote has been accepted and the amount and rate thereof. A Tranche 1 Revolving Lender who is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b13.5.(g). Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in respect of such Bid Rate Loan and be entitled to receive payment thereof when due. No Tranche 1 Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Tranche 1 Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 12:30 p.m. (Chicago time) Pacific time on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation Principal Office in immediately available funds, for the account of the Borrower. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available to the Borrower not later than 3:30 1:30 p.m. (Chicago time) Pacific time on such date by depositing the same, in immediately available funds, in an account of the Borrower designated by the Borrower.

Appears in 2 contracts

Samples: Credit Agreement (Realty Income Corp), Credit Agreement (Realty Income Corp)

Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than (ix) 1:30 p.m. (Chicago time) 10:00 a.m. Pacific time on the proposed date of borrowing of Absolute Rate Loans and (iiy) on the date three (3) Business Days prior to the proposed date of borrowing of Eurodollar LIBOR Margin Loans) notify each Revolving Lender that submitted a Bid Rate Quote as to whose Bid Rate Quote has been accepted and the amount and rate thereof. A Revolving Lender who is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b13.6.(h). Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in respect of under such Bid Rate Loan and be entitled to receive payment thereof when due. No Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 p.m. (Chicago time) 11:00 a.m. Pacific time on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation Principal Office in immediately available funds, for the account acΒ­count of the Borrower. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available to the Borrower not later than 3:30 p.m. (Chicago time) 12:00 noon on such date by depositing the same, in immediately available funds, in an account of the Borrower designated by the Borrower.

Appears in 2 contracts

Samples: Credit Agreement (Realty Income Corp), Credit Agreement (Realty Income Corp)

Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than (ix) 1:30 1:00 p.m. (Chicago timeCentral Time) on the Business Day immediately preceding the proposed date of borrowing of Absolute Rate Loans and (iiy) on the date three (3) Business Days prior to the proposed date of borrowing of Eurodollar LIBOR Margin Loans) notify each Revolving Lender as to whose Bid Rate Quote has been accepted and the amount and rate thereof. A Revolving Lender who is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b)13.5. Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in respect of such Bid Rate Loan and be entitled to receive payment thereof when due. No Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 p.m. 11:00 a.m. (Chicago timeCentral Time) on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation the Administrative Office in immediately available funds, for the account of the Borrower. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available to the Borrower not later than 3:30 12:00 p.m. (Chicago timeCentral Time) on such date by depositing the same, in immediately available funds, in an account of the Borrower designated by in the BorrowerDisbursement Instruction Agreement.

Appears in 2 contracts

Samples: Revolving Credit Agreement (First Industrial Lp), Assignment and Assumption Agreement (First Industrial Lp)

Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than (ix) 1:30 p.m. 11:30 a.m. (Chicago Pacific time) on the proposed date of borrowing of Absolute Rate Loans and (iiy) on the date three (3) Business Days prior to the proposed date of borrowing of Eurodollar LIBOR Margin Loans) notify each Revolving Lender as to whose Bid Rate Quote has been properly accepted and the amount and rate thereof. A Revolving Lender who is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b13.6(h). Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in with respect of to such Bid Rate Loan and be entitled to receive payment thereof when due. No Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 12:30 p.m. (Chicago Pacific time) on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation Principal Office in immediately available funds, for the account of the Borrower. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available to the Borrower not later than 3:30 1:30 p.m. (Chicago Pacific time) on such date by depositing the same, in immediately available funds, in an account of the Borrower designated by the Borrower.

Appears in 2 contracts

Samples: Credit Agreement (Equity One, Inc.), Credit Agreement (Equity One, Inc.)

Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than 12:00 noon (i) 1:30 p.m. (Chicago timex) on the proposed date of borrowing of Absolute Rate Loans and (iiy) on the date three (3) Business Days prior to the proposed date of borrowing of Eurodollar LIBOR Margin Loans) notify each Revolving Lender as to whose Bid Rate Quote has been accepted and the amount and rate thereof. A Revolving Lender who is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b12.5(h). Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in respect of such Bid Rate Loan and be entitled to receive payment thereof when due. No Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 1:30 p.m. (Chicago time) on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation Principal Office in immediately available funds, for the account of the Borrower. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available to the Borrower not no later than 3:30 2:00 p.m. (Chicago time) on such date by depositing the same, in immediately available funds, in an account of the Borrower designated by the Borrower.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Piedmont Office Realty Trust, Inc.), Revolving Credit Agreement (Piedmont Office Realty Trust, Inc.)

Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than (ix) 1:30 12:30 p.m. (Chicago time) Central time on the proposed date of borrowing of Absolute Rate Loans and (iiy) on the date three (3) 3 Business Days prior to the proposed date of borrowing of Eurodollar LIBOR Margin Loans) notify each Revolving Lender as to whose Bid Rate Quote has been accepted and the amount and rate thereof. A Revolving Lender who is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b12.5.(g). Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in respect of such Bid Rate Loan and be entitled to receive payment thereof when due. No Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 1:30 p.m. (Chicago time) Central time on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation Principal Office in immediately available funds, for the account of the Borrower. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available to the Borrower not later than 3:30 2:30 p.m. (Chicago time) Central time on such date by depositing the same, in immediately available funds, in an account of the Borrower designated by the BorrowerBorrower in the Disbursement Instruction Agreement.

Appears in 2 contracts

Samples: Credit Agreement (Equity Commonwealth), Credit Agreement (Equity Commonwealth)

Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than (ix) 1:30 p.m. (Chicago time) 10:00 a.m. San Francisco time on the proposed date of borrowing of Absolute Rate Loans and (iiy) on the date three (3) Business Days prior to the proposed date of borrowing of Eurodollar LIBOR Margin Loans) notify each Revolving Lender that submitted a Bid Rate Quote as to whose Bid Rate Quote has been accepted and the amount and rate thereof. A Revolving Lender who is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b13.6.(d). Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in respect of under such Bid Rate Loan and be entitled to receive payment thereof when due. No Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 p.m. (Chicago time) 11:00 a.m. San Francisco time on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation Principal Office in immediately available funds, for the account of the Borrower. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available to the Borrower not later than 3:30 p.m. (Chicago time) 12:00 noon on such date by depositing the same, in immediately available funds, in an account of the Borrower designated by the Borrower.

Appears in 2 contracts

Samples: Credit Agreement (Realty Income Corp), Credit Agreement (Realty Income Corp)

Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than 12:00 noon (i) 1:30 p.m. (Chicago timex) on the proposed date of borrowing of Absolute Rate Loans and (iiy) on the date three (3) Business Days prior to the proposed date of borrowing of Eurodollar LIBOR Margin Loans) notify each Revolving Lender as to whose Bid Rate Quote has been accepted and the amount and rate thereof. A Revolving Lender who is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b12.5.(e). Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in respect of such Bid Rate Loan and be entitled to receive payment thereof when due. No Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 1:30 p.m. (Chicago time) on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation Principal Office in immediately available funds, for the account of the Borrower. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available to the Borrower not no later than 3:30 2:00 p.m. (Chicago time) on such date by depositing the same, in immediately available funds, in an account of the Borrower designated by the Borrower.

Appears in 1 contract

Samples: Credit Agreement (St Joe Co)

Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than (ix) 1:30 p.m. (Chicago time) 12:00 noon Eastern time on the proposed date of borrowing of Absolute Rate Loans and (iiy) on the date three (3) Business Days prior to the proposed date of borrowing of Eurodollar LIBOR Margin Loans) notify each Revolving Lender that submitted a Bid Rate Quote as to whose Bid Rate Quote has been accepted and the amount and rate thereof. A Revolving Lender who is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b13.7.(d). Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in respect of under such Bid Rate Loan and be entitled to receive payment thereof when due. No Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 1:00 p.m. (Chicago time) Eastern time on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation Principal Office in immediately available funds, for the account of the Borrower. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available to the Borrower not later than 3:30 p.m. (Chicago time) 12:00 noon on such date by depositing the same, in immediately available funds, in an account of the Borrower designated by the Borrower.

Appears in 1 contract

Samples: Credit Agreement (Washington Real Estate Investment Trust)

Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than (ix) 1:30 p.m. (Chicago time) 10:00 a.m. San Francisco time on the proposed date of borrowing of Absolute Rate Loans and (iiy) on the date three (3) Business Days prior to the proposed date of borrowing of Eurodollar LIBOR Margin Loans) notify each Revolving Lender that submitted a Bid Rate Quote as to whose Bid Rate Quote has been accepted and the amount and rate thereof. A Revolving Lender who is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b)12.8. Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in respect of under such Bid Rate Loan and be entitled to receive payment thereof when due. No Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 p.m. (Chicago time) 11:00 a.m. San Francisco time on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation Principal Office in immediately available funds, for the account of the Borrower. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available to the Borrower not later than 3:30 p.m. (Chicago time) 12:00 noon on such date by depositing the same, in immediately available funds, in an account of the Borrower designated by the Borrower.

Appears in 1 contract

Samples: Credit Agreement (Regency Centers Corp)

Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than (ix) 1:30 p.m. (Chicago time) on the proposed date of borrowing of Absolute Rate Loans and (iiy) on the date three (3) Business Days prior to the proposed date of borrowing of Eurodollar LIBOR Margin Loans) notify each Revolving Lender as to whose Bid Rate Quote has been accepted and the amount and rate thereof. A Revolving Lender who is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b12.5.(g). Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in respect of such Bid Rate Loan and be entitled to receive payment thereof when due. No Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 p.m. (Chicago time) on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation Principal Office in immediately available funds, for the account of the BorrowerBorrowers. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available to the Borrower Borrowers not later than 3:30 p.m. (Chicago time) on such date by depositing the same, in immediately available funds, in an account of the Borrower Borrowers designated by the BorrowerBorrower Representative.

Appears in 1 contract

Samples: Credit Agreement (Lepercq Corporate Income Fund L P)

Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than (ix) 1:30 p.m. (Chicago time) 12:00 noon Eastern time on the proposed date of borrowing of Absolute Rate Loans and (iiy) on the date three (3) Business Days prior to the proposed date of borrowing of Eurodollar LIBOR Margin Loans) notify each Revolving Lender that submitted a Bid Rate Quote as to whose Bid Rate Quote has been accepted and the amount and rate thereof. A Revolving Lender who is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b12.7.(d). Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in respect of under such Bid Rate Loan and be entitled to receive payment thereof when due. No Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 p.m. (Chicago time) 11:00 a.m. Eastern time on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation Principal Office in immediately available funds, for the account ac-count of the Borrower. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available to the Borrower not later than 3:30 p.m. (Chicago time) 12:00 noon Eastern time on such date by depositing the same, in immediately available funds, in an account of the Borrower designated by the Borrower.

Appears in 1 contract

Samples: Credit Agreement (Washington Real Estate Investment Trust)

Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than (ix) 1:30 2:30 p.m. (Chicago time) Eastern time on the proposed date of borrowing of Absolute Rate Loans and (iiy) on the date three (3) U.S. Government Securities Business Days prior to the proposed date of borrowing of Eurodollar SOFR Margin Loans) notify each Revolving Lender as to whose Bid Rate Quote has been accepted and the amount and rate thereof. A Revolving Lender who is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b12.6.(h). Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in respect of such Bid Rate Loan and be entitled to receive payment thereof when due. No Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 3:30 p.m. (Chicago time) Eastern time on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation Principal Office in immediately available funds, for the account ac¬count of the Borrower. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available to the Borrower not later than 3:30 4:30 p.m. (Chicago time) Eastern time on such date by depositing the same, in immediately available funds, in an account of the Borrower designated by the Borrower.

Appears in 1 contract

Samples: Credit Agreement (Regency Centers Lp)

Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than (ix) 1:30 p.m. (Chicago time) 11:30 a.m. Pacific time on the proposed date of borrowing of Absolute Rate Loans and (iiy) on the date three (3) Business Days prior to the proposed date of borrowing of Eurodollar LIBOR Margin Loans) notify each Revolving Lender as to whose Bid Rate Quote has been accepted and the amount and rate thereof. A Revolving Lender who is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b12.5.(d). Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in respect of such Bid Rate Loan and be entitled to receive payment thereof when due. No Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 12:30 p.m. (Chicago time) Pacific time on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation Principal Office in immediately available funds, for the account of the Borrower. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available to the Borrower not later than 3:30 1:30 p.m. (Chicago time) Pacific time on such date by depositing the same, in immediately available funds, in an account of the Borrower designated by the Borrower.

Appears in 1 contract

Samples: Credit Agreement (Bre Properties Inc /Md/)

Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than (i) 1:30 p.m. (Chicago time) on the proposed date of borrowing of Absolute Rate Loans and (ii) on the date three (3) Business Days prior to the proposed date of borrowing of Eurodollar Margin Loans) notify each Revolving Lender as to whose Bid Rate Quote has been accepted and the amount and rate thereof. A Revolving Lender who is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b12.5.(e). Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in respect of under such Bid Rate Loan and be entitled to receive payment thereof when due. No Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 1:30 p.m. (Chicago time) on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation Principal Office in immediately available funds, for the account of the Borrower. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available to the Borrower not no later than 3:30 2:00 p.m. (Chicago time) on such date by depositing the same, in immediately available funds, in an account of the Borrower designated by the Borrower.

Appears in 1 contract

Samples: Credit Agreement (HRPT Properties Trust)

Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than (ix) 1:30 p.m. (Chicago time) 10:00 a.m. San Francisco time on the proposed date of borrowing of Absolute Rate Loans and (iiy) on the date three (3) Business Days prior to the proposed date of borrowing of Eurodollar LIBOR Margin Loans) notify each Revolving Lender that submitted a Bid Rate Quote as to whose Bid Rate Quote has been accepted and the amount and rate thereof. A Revolving Lender who is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b13.6.(d). Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in respect of under such Bid Rate Loan and be entitled to receive payment thereof when due. No Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 p.m. (Chicago time) 11:00 a.m. San Francisco time on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation Principal Office in immediately available funds, for the account acΒ­count of the Borrower. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available to the Borrower not later than 3:30 p.m. (Chicago time) 12:00 noon on such date by depositing the same, in immediately available funds, in an account of the Borrower designated by the Borrower.

Appears in 1 contract

Samples: Credit Agreement (Realty Income Corp)

Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than (ix) 1:30 p.m. (Chicago time) 12:00 noon Eastern time on the proposed date of borrowing of Absolute Rate Loans and (iiy) on the date three (3) Business Days prior to the proposed date of borrowing of Eurodollar LIBOR Margin Loans) notify each Revolving Lender that submitted a Bid Rate Quote as to whose Bid Rate Quote has been accepted and the amount and rate thereof. A Revolving Lender who is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b12.7.(d). Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in respect of under such Bid Rate Loan and be entitled to receive payment thereof when due. No Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 p.m. (Chicago time) 11:00 a.m. Eastern time on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation Principal Office in immediately available funds, for the account of the Borrower. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available to the Borrower not later than 3:30 p.m. (Chicago time) 12:00 noon Eastern time on such date by depositing the same, in immediately available funds, in an account of the Borrower designated by the Borrower.

Appears in 1 contract

Samples: Designation Agreement (Washington Real Estate Investment Trust)

Obligation to Make Bid Rate Loans. The Administrative Agent shall --------------------------------- promptly (and in any event not later than (ix) 1:30 2:00 p.m. (Chicago time) on the proposed date of borrowing of Absolute Rate Loans and (iiy) on the date three (3) Business Days prior to the proposed date of borrowing of Eurodollar LIBOR Margin Loans) notify each Revolving Lender that submitted a Bid Rate Quote as to whose Bid Rate Quote has been accepted and the amount and rate thereof. A Revolving Lender who is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b)13.5. Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in respect of under such Bid Rate Loan and be entitled to receive payment thereof when due. No Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 3:00 p.m. (Chicago time) on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation Principal Office in immediately available funds, for the account of the Borrower. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available to the Borrower not no later than 3:30 4:00 p.m. (Chicago time) on such date by depositing the same, in immediately available funds, in an account of the Borrower designated by the Borrower.

Appears in 1 contract

Samples: Federal Realty Investment Trust

Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than (ix) 1:30 p.m. (Chicago time) Eastern time on the proposed date of borrowing of Absolute Rate Loans and (iiy) on the date three (3) 3 Business Days prior to the proposed date of borrowing of Eurodollar SOFR Margin Loans) notify each Revolving Lender as to whose Bid Rate Quote has been accepted and the amount and rate thereof. A Revolving Lender who is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b12.5.(d). Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in respect of such Bid Rate Loan and be entitled to receive payment thereof when due. No Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 p.m. (Chicago time) Eastern time on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation Principal Office in immediately available funds, for the account of the BorrowerCompany. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available to the Borrower Company not later than 3:30 p.m. (Chicago time) Eastern time on such date by depositing the same, in immediately available funds, in an account of the Borrower Company designated by the Borrower.Company. (g)

Appears in 1 contract

Samples: Credit Agreement (Park Hotels & Resorts Inc.)

Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than (ix) 1:30 p.m. (Chicago time) Central Time on the proposed date of borrowing of Absolute Rate Loans and (iiy) on the date three (3) U.S. Government Securities Business Days prior to the proposed date of borrowing of Eurodollar LIBORSOFR Margin Loans) notify each Revolving Lender that submitted a Bid Rate Quote as to whose Bid Rate Quote has been accepted and the amount and rate thereof. A Revolving Lender who which is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b12.5(d). Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in respect of such Bid Rate Loan and be entitled to receive payment thereof when due. No Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 p.m. (Chicago time) Central Time on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation Principal Office in immediately available funds, for the account of the Borrower. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available to the Borrower not later than 3:30 p.m. (Chicago time) Central Time on such date by depositing the same, in immediately available funds, in an the account of the Borrower designated by in the BorrowerDisbursement Instruction Agreement.

Appears in 1 contract

Samples: Credit Agreement (American Homes 4 Rent, L.P.)

Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than (ix) 1:30 p.m. (Chicago time) 12:00 noon Eastern time on the proposed date of borrowing of Absolute Rate Loans and (iiy) on the date three (3) 3 Business Days prior to the proposed date of borrowing of Eurodollar LIBOR Margin Loans) notify each Revolving Lender that submitted a Bid Rate Quote as to whose Bid Rate Quote has been accepted and the amount and rate thereof. A Revolving Lender who is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b12.5.(g). Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in respect of such Bid Rate Loan and be entitled to receive payment thereof when due. No Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 p.m. (Chicago time) 11:00 a.m. Eastern time on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation Principal Office in immediately available funds, for the account of the Borrower. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available to the Borrower not later than 3:30 p.m. (Chicago time) 12:00 noon Eastern time on such date by depositing the same, in immediately available funds, in an account of the Borrower designated by the Borrower.

Appears in 1 contract

Samples: Credit Agreement (Washington Real Estate Investment Trust)

Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than (ix) 1:30 p.m. (Chicago time) 11:30 a.m. Pacific time on the proposed date of borrowing of Absolute Rate Loans and (iiy) on the date three (3) 3 Business Days prior to the proposed date of borrowing of Eurodollar SOFR Margin Loans) notify each Tranche 1 Revolving Lender that submitted a Bid Rate Quote as to whose Bid Rate Quote has been accepted and the amount and rate thereof. A Tranche 1 Revolving Lender who is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b13.5.(g). Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in respect of such Bid Rate Loan and be entitled to receive payment thereof when due. No Tranche 1 Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Tranche 1 Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 12:30 p.m. (Chicago time) Pacific time on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation Principal Office in immediately available funds, for the account of the Borrower. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available to the Borrower not later than 3:30 1:30 p.m. (Chicago time) Pacific time on such date by depositing the same, in immediately available funds, in an account of the Borrower designated by the Borrower.

Appears in 1 contract

Samples: Credit Agreement (Realty Income Corp)

Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than (ix) 1:30 p.m. (Chicago time) 12:00 noon on the proposed date of borrowing of Absolute Rate Loans and (iiy) on the date three (3) Business Days prior to the proposed date of borrowing of Eurodollar LIBOR Margin Loans) notify each Revolving Lender as to whose Bid Rate Quote has been accepted and the amount and rate thereof. In addition, the Agent shall promptly notify each Lender submitting a Bid Rate Quote of the range of Bid Rate Quotes accepted. A Revolving Lender who is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b12.5.(e). Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in respect of under such Bid Rate Loan and be entitled to receive payment thereof when due. No Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 1:30 p.m. (Chicago time) on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation Principal Office in immediately available funds, for the account of the Borrower. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available to the Borrower not no later than 3:30 2:00 p.m. (Chicago time) on such date by depositing the same, in immediately available funds, in an account of the Borrower designated by the Borrower.

Appears in 1 contract

Samples: Credit Agreement (UDR, Inc.)

Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than (ix) 1:30 p.m. (Chicago time) 12:00 noon Eastern time on the proposed date of borrowing of Absolute Rate Loans and (iiy) on the date three (3) 3 U.S. Government Securities Business Days prior to the proposed date of borrowing of Eurodollar SOFR Margin Loans) notify each Revolving Lender that submitted a Bid Rate Quote as to whose Bid Rate Quote has been accepted and the amount and rate thereof. A Revolving Lender who is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b12.5.(g). Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in respect of such Bid Rate Loan and be entitled to receive payment thereof when due. No Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 p.m. (Chicago time) 11:00 a.m. Eastern time on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation Principal Office in immediately available funds, for the account of the Borrower. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available to the Borrower not later than 3:30 p.m. (Chicago time) 12:00 noon Eastern time on such date by depositing the same, in immediately available funds, in an account of the Borrower designated by the Borrower.

Appears in 1 contract

Samples: Credit Agreement (Elme Communities)

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Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than (ix) 1:30 p.m. (Chicago time) on the proposed date of borrowing of Absolute Rate Loans and (iiy) on the date three (3) Business Days prior to the proposed date of borrowing of Eurodollar Term SOFR Margin Loans) notify each Revolving Lender as to whose Bid Rate Quote has been accepted and the amount and rate thereof. A Revolving Lender who is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b12.5.(g). Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in respect of such Bid Rate Loan and be entitled to receive payment thereof when due. No Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 p.m. (Chicago time) on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation Principal Office in immediately available funds, for the account of the Borrower. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available to the Borrower not later than 3:30 p.m. (Chicago time) on such date by depositing the same, in immediately available funds, in an account of the Borrower designated by the Borrower.

Appears in 1 contract

Samples: Credit Agreement (LXP Industrial Trust)

Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than (ix) 1:30 p.m. (Chicago time) 10:00 a.m. on the proposed date of borrowing of Absolute Rate Loans and (iiy) on the date three (3) Business Days prior to the proposed date of borrowing of Eurodollar LIBOR Margin Loans) notify each Revolving Lender that submitted a Bid Rate Quote as to whose Bid Rate Quote has been accepted and the amount and rate thereof. A Revolving Lender who is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b). 13.6(d) Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in respect of under such Bid Rate Loan and be entitled to receive payment thereof when due. No Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 p.m. (Chicago time) 11:00 a.m. on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation Principal Office in immediately available funds, for the account of the Borrower. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made make the amount so received available to the Borrower not later than 3:30 p.m. (Chicago time) 12:00 noon on such date by depositing the same, in immediately available funds, in an account of the Borrower designated by the Borrower.

Appears in 1 contract

Samples: Credit Agreement (Equity One Inc)

Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than (ix) 1:30 p.m. (Chicago time) Central time on the proposed date of borrowing of Absolute Rate Loans and (iiy) on the date three (3) 3 Business Days prior to the proposed date of borrowing of Eurodollar LIBOR Margin Loans) notify each Revolving Lender as to whose Bid Rate Quote has been accepted and the amount and rate thereof. A Revolving Lender who is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b12.5.(d). Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in respect of such Bid Rate Loan and be entitled to receive payment thereof when due. No Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 p.m. (Chicago time) Central time on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation Principal Office in immediately available funds, for the account ac-count of the Borrower. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available to the Borrower not later than 3:30 p.m. (Chicago time) Central time on such date by depositing the same, in immediately available funds, in an account of the Borrower designated by the Borrower.

Appears in 1 contract

Samples: Credit Agreement (Colonial Realty Limited Partnership)

Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than (ix) 1:30 p.m. (Chicago time) 12:00 noon on the proposed date of borrowing of Absolute Rate Loans and (iiy) on the date three (3) Business Days prior to the proposed date of borrowing of Eurodollar LIBOR Margin Loans) notify each Revolving Lender as to whose Bid Rate Quote has been accepted and the amount and rate thereof. A Revolving Lender who is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b12.5.(e). Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in respect of under such Bid Rate Loan and be entitled to receive payment thereof when due. No Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 1:30 p.m. (Chicago time) on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation Principal Office in immediately available funds, for the account of the Borrower. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available to the Borrower not no later than 3:30 2:00 p.m. (Chicago time) on such date by depositing the same, in immediately available funds, in an account of the Borrower designated by the Borrower.

Appears in 1 contract

Samples: Credit Agreement (Federal Realty Investment Trust)

Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than (ix) 1:30 p.m. (Chicago time) 11:30 a.m. Pacific time on the proposed date of borrowing of Absolute Rate Loans and (iiy) on the date three (3) 3 Business Days prior to the proposed date of borrowing of Eurodollar LIBOR Margin Loans) notify each Revolving Lender that submitted a Bid Rate Quote as to whose Bid Rate Quote has been accepted and the amount and rate thereof. A Revolving Lender who is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b13.5.(g). Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in respect of such Bid Rate Loan and be entitled to receive payment thereof when due. No Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 12:30 p.m. (Chicago time) Pacific time on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation Principal Office in immediately available funds, for the account acΒ­count of the Borrower. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available to the Borrower not later than 3:30 1:30 p.m. (Chicago time) Pacific time on such date by depositing the same, in immediately available funds, in an account of the Borrower designated by the Borrower.

Appears in 1 contract

Samples: Credit Agreement (Realty Income Corp)

Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than (ix) 1:30 p.m. (Chicago time) Eastern time on the proposed date of borrowing of Absolute Rate Loans and (iiy) on the date three (3) 3 Business Days prior to the proposed date of borrowing of Eurodollar SOFR Margin Loans) notify each Revolving Lender as to whose Bid Rate Quote has been accepted and the amount and rate thereof. A Revolving Lender who is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b12.5.(d). Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in respect of such Bid Rate Loan and be entitled to receive payment thereof when due. No Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 p.m. (Chicago time) Eastern time on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation Principal Office in immediately available funds, for the account of the BorrowerCompany. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available to the Borrower Company not later than 3:30 p.m. (Chicago time) Eastern time on such date by depositing the same, in immediately available funds, in an account of the Borrower Company designated by the BorrowerCompany.

Appears in 1 contract

Samples: Credit Agreement (Park Hotels & Resorts Inc.)

Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than (ix) 1:30 p.m. (Chicago time) 11:30 a.m. on the proposed date of borrowing of Absolute Rate Loans and (iiy) on the date three (3) Business Days prior to the proposed date of borrowing of Eurodollar LIBOR Margin Loans) notify each Revolving Lender as to whose Bid Rate Quote has been accepted and the amount and rate thereof. A Revolving Lender who is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b12.5.(h). Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in respect of such Bid Rate Loan and be entitled to receive payment thereof when due. No Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 12:30 p.m. (Chicago time) on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation Principal Office in immediately available funds, for the account of the Borrower. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available to the Borrower not later than 3:30 1:30 p.m. (Chicago time) on such date by depositing the same, in immediately available funds, in an account of the Borrower designated by the Borrower.

Appears in 1 contract

Samples: Credit Agreement (Corporate Office Properties Trust)

Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than (ix) 1:30 p.m. (Chicago time) 12:00 noon Eastern time on the proposed date of borrowing of Absolute Rate Loans and (iiy) on the date three (3) Business Days prior to the proposed date of borrowing of Eurodollar LIBOR Margin Loans) notify each Revolving Lender as to whose Bid Rate Quote has been accepted and the amount and rate thereof. A Revolving Lender who is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b12.5.(h). Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in respect of such Bid Rate Loan and be entitled to receive payment thereof when due. No Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 1:30 p.m. (Chicago time) Eastern time on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation Principal Office in immediately available funds, for the account of the BorrowerBorrower to whom such Bid Rate Loan is to be made. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available to the such Borrower not later than 3:30 2:00 p.m. (Chicago time) Eastern time on such date by depositing the same, in immediately available funds, in an account of the such Borrower designated by the BorrowerBorrower Representative.

Appears in 1 contract

Samples: Credit Agreement (Sl Green Operating Partnership, L.P.)

Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than (ix) 1:30 p.m. (Chicago time) 11:30 a.m. Pacific time on the proposed date of borrowing of Absolute Rate Loans and (iiy) on the date three (3) 3 Business Days prior to the proposed date of borrowing of Eurodollar SOFR Margin Loans) notify each Revolving Lender that submitted a Bid Rate Quote as to whose Bid Rate Quote has been accepted and the amount and rate thereof. A Revolving Lender who is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b12.5(d). Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in respect of such Bid Rate Loan and be entitled to receive payment thereof when due. No Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan ​ is funded. Any Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 12:30 p.m. (Chicago time) Pacific time on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation Principal Office in immediately available funds, for the account of the Borrower. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available to the Borrower not later than 3:30 1:30 p.m. (Chicago time) Pacific time on such date by depositing the same, in immediately available funds, in an account of the Borrower designated by the Borrower.

Appears in 1 contract

Samples: Credit Agreement (UDR, Inc.)

Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than (ix) 1:30 p.m. (Chicago time) 12:00 noon Eastern time on the proposed date of borrowing of Absolute Rate Loans and (iiy) on the date three (3) 3 Business Days prior to the proposed date of borrowing of Eurodollar LIBOR Margin Loans) notify each Revolving Lender that submitted a Bid Rate Quote as to whose Bid Rate Quote has been accepted and the amount and rate thereof. A Revolving Lender who is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b12.5.(g). Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in respect of such Bid Rate Loan and be entitled to receive payment thereof when due. No Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 p.m. (Chicago time) 11:00 a.m. Eastern time on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation Principal Office in immediately available funds, for the account of the Borrower. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available to the Borrower not later than 3:30 p.m. (Chicago time) 12:00 noon Eastern time on such date by depositing the same, in immediately available funds, in an account of the Borrower designated by the Borrower.. (g)

Appears in 1 contract

Samples: Credit Agreement (Washington Real Estate Investment Trust)

Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than (ix) 1:30 p.m. (Chicago time) 12:00 noon Eastern time on the proposed date of borrowing of Absolute Rate Loans and (iiy) on the date three (3) 3 U.S. Government Securities Business Days prior to the proposed date of borrowing of Eurodollar LIBORSOFR Margin Loans) notify each Revolving Lender that submitted a Bid Rate Quote as to whose Bid Rate Quote has been accepted and the amount and rate thereof. A Revolving Lender who is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b12.5.(g). Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in respect of such Bid Rate Loan and be entitled to receive payment thereof when due. No Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 p.m. (Chicago time) 11:00 a.m. Eastern time on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation Principal Office in immediately available funds, for the account of the Borrower. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available to the Borrower not later than 3:30 p.m. (Chicago time) 12:00 noon Eastern time on such date by LEGAL02/40926073v6 depositing the same, in immediately available funds, in an account of the Borrower designated by the Borrower.

Appears in 1 contract

Samples: Credit Agreement (Elme Communities)

Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than (ix) 1:30 p.m. (Chicago time) 11:30 a.m. on the proposed date of borrowing of Absolute Rate Loans and (iiy) on the date three (3) Business Days prior to the proposed date of borrowing of Eurodollar SOFR Margin Loans) notify each Revolving Lender as to whose Bid Rate Quote has been accepted and the amount and rate thereof. A Revolving Lender who is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b12.5.(h). Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in respect of such Bid Rate Loan and be entitled to receive payment thereof when due. No Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 12:30 p.m. (Chicago time) on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation Principal Office in immediately available funds, for the account of the Borrower. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available to the Borrower not later than 3:30 1:30 p.m. (Chicago time) on such date by depositing the same, in immediately available funds, in an account of the Borrower designated by the Borrower.

Appears in 1 contract

Samples: Credit Agreement (Corporate Office Properties Trust)

Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than (ix) 1:30 2:30 p.m. (Chicago time) Eastern time on the proposed date of borrowing of Absolute Rate Loans and (iiy) on the date three (3) U.S. Government Securities Business Days prior to the proposed date of borrowing of Eurodollar SOFR Margin Loans) notify each Revolving Lender as to whose Bid Rate Quote has been accepted and the amount and rate thereof. A Revolving Lender who is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b12.6.(h). Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in respect of such Bid Rate Loan and be entitled to receive payment thereof when due. No Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 3:30 p.m. (Chicago time) Eastern time on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation Principal Office in immediately available funds, for the account of the Borrower. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available to the Borrower not later than 3:30 4:30 p.m. (Chicago time) Eastern time on such date by depositing the same, in immediately available funds, in an account of the Borrower designated by the Borrower.

Appears in 1 contract

Samples: Credit Agreement (Regency Centers Lp)

Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than (ix) 1:30 p.m. (Chicago time) Central Time on the proposed date of borrowing of Absolute Rate Loans and (iiy) on the date three (3) U.S. Government Securities Business Days prior to the proposed date of borrowing of Eurodollar SOFR Margin Loans) notify each Revolving Lender that submitted a Bid Rate Quote as to whose Bid Rate Quote has been accepted and the amount and rate thereof. A Revolving Lender who which is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b12.5(d). Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in respect of such Bid Rate Loan and be entitled to receive payment thereof when due. No Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 p.m. (Chicago time) Central Time on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation Principal Office in immediately available funds, for the account of the Borrower. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available to the Borrower not later than 3:30 p.m. (Chicago time) Central Time on such date by depositing the same, in immediately available funds, in an the account of the Borrower designated by in the BorrowerDisbursement Instruction Agreement.

Appears in 1 contract

Samples: Credit Agreement (American Homes 4 Rent, L.P.)

Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than (ix) 1:30 2:00 p.m. (Chicago time) on the proposed date of borrowing of Absolute Rate Loans and (iiy) on the date three (3) Business Days prior to the proposed date of borrowing of Eurodollar LIBOR Margin Loans) notify each Revolving Lender that submitted a Bid Rate Quote as to whose Bid Rate Quote has been accepted and the amount and rate thereof. A Revolving Lender who is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b12.6.(d). Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in respect of such Bid Rate Loan and be entitled to receive payment thereof when due. No Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 3:00 p.m. (Chicago time) on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation Principal Office in immediately available funds, for the account of the Borrower. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available to the Borrower not later than 3:30 4:00 p.m. (Chicago time) on such date by depositing the same, in immediately available funds, in an account of the Borrower designated by the Borrower.

Appears in 1 contract

Samples: Credit Agreement (Post Apartment Homes Lp)

Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than (ix) 1:30 p.m. (Chicago time) on the proposed date of borrowing of Absolute Rate Loans and (iiy) on the date three (3) Business Days prior to the proposed date of borrowing of Eurodollar LIBOR Margin Loans) notify each Revolving Lender as to whose Bid Rate Quote has been accepted and the amount and rate thereof. A Revolving Lender who is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b12.5.(g). Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in respect of such Bid Rate Loan and be entitled to receive payment thereof when due. No Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 p.m. (Chicago time) on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation Principal Office in immediately available funds, for the account of the Borrower. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available to the Borrower not later than 3:30 p.m. (Chicago time) on such date by depositing the same, in immediately available funds, in an account of the Borrower designated by the Borrower.

Appears in 1 contract

Samples: Credit Agreement (Lexington Realty Trust)

Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than (ix) 1:30 1:00 p.m. (Chicago timeCentral Time) on the Business Day immediately preceding the proposed date of borrowing of Absolute Rate Loans and (iiy) on the date three (3) Business Days prior to the proposed date of borrowing of Eurodollar LIBORTerm SOFR Margin Loans) notify each Revolving Lender as to whose Bid Rate Quote has been accepted and the amount and rate thereof. A Revolving Lender who is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b)13.5. Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in respect of such Bid Rate Loan and be entitled to receive payment thereof when due. No Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 p.m. 11:00 a.m. (Chicago timeCentral Time) on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation the Administrative Office in immediately available funds, for the account of the Borrower. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available to the Borrower not later than 3:30 12:00 p.m. (Chicago timeCentral Time) on such date by depositing the same, in immediately available funds, in an account of the Borrower designated by in the BorrowerDisbursement Instruction Agreement.

Appears in 1 contract

Samples: Revolving Credit Agreement (First Industrial Lp)

Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than (ix) 1:30 p.m. (Chicago time) 11:30 a.m. on the proposed date of borrowing of Absolute Rate Loans and (iiy) on the date three (3) Business Days prior to the proposed date of borrowing of Eurodollar LIBOR Margin Loans) notify each Revolving Lender as to whose Bid Rate Quote has been properly accepted and the amount and rate thereof. A Revolving Lender who is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b13.6(h). Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in with respect of to such Bid Rate Loan and be entitled to receive payment thereof when due. No Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 12:30 p.m. (Chicago Pacific time) on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation Principal Office in immediately available funds, for the account of the Borrower. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available to the Borrower not later than 3:30 1:30 p.m. (Chicago Pacific time) on such date by depositing the same, in immediately available funds, in an account of the Borrower designated by the Borrower.

Appears in 1 contract

Samples: Credit Agreement (Equity One, Inc.)

Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than (ix) 1:30 p.m. (Chicago time) 11:30 a.m. Pacific time on the proposed date of borrowing of Absolute Rate Loans and (iiy) on the date three (3) 3 Business Days prior to the proposed date of borrowing of Eurodollar LIBOR Margin Loans) notify each Revolving Lender that submitted a Bid Rate Quote as to whose Bid Rate Quote has been accepted and the amount and rate thereof. A Revolving Lender who is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b13.5.(g). Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in respect of such Bid Rate Loan and be entitled to receive payment thereof when due. No Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 12:30 p.m. (Chicago time) Pacific time on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation Principal Office in immediately available funds, for the account of the Borrower. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available to the Borrower not later than 3:30 1:30 p.m. (Chicago time) Pacific time on such date by depositing the same, in immediately available funds, in an account of the Borrower designated by the Borrower.

Appears in 1 contract

Samples: Credit Agreement (Realty Income Corp)

Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than 12:00 noon (i) 1:30 p.m. (Chicago timex) on the proposed date of borrowing of Absolute Rate Loans and (iiy) on the date three (3) Business Days prior to the proposed date of borrowing of Eurodollar LIBOR Margin Loans) notify each Revolving Lender as to whose Bid Rate Quote has been accepted and the amount and rate thereof. A Revolving Lender who is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b12.5(h). Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in respect of such Bid Rate Loan and be entitled to receive payment thereof when due. No Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 1:30 p.m. (Chicago time) on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation Principal Office in immediately available funds, for the account of the Borrower. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available to the Borrower not later than 3:30 p.m. (Chicago time) on such date by depositing the same, in immediately available funds, in an account of the Borrower designated by the Borrower.

Appears in 1 contract

Samples: Revolving Credit Agreement (Piedmont Office Realty Trust, Inc.)

Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than (ix) 1:30 p.m. (Chicago time) Central time on the proposed date of borrowing of Absolute Rate Loans and (iiy) on the date three (3) Business Days prior to the proposed date of borrowing of Eurodollar LIBOR Margin Loans) notify each Dollar Tranche Revolving Lender as to whose Bid Rate Quote has been accepted and the amount and rate thereof. A Dollar Tranche Revolving Lender who is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b13.5(d). Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in respect of such Bid Rate Loan and be entitled to receive payment thereof when due. No Dollar Tranche Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Dollar Tranche Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 p.m. (Chicago time) Central time on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation Principal Office in immediately available funds, for the account of the Borrower. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available to the Borrower not later than 3:30 p.m. (Chicago time) Central time on such date by depositing the same, in immediately available funds, in an account of the Borrower designated by the Borrower.

Appears in 1 contract

Samples: Credit Agreement (American Realty Capital Properties, Inc.)

Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than (ix) 1:30 p.m. (Chicago time) 10:00 a.m. on the proposed date of borrowing of Absolute Rate Loans and (iiy) on the date three (3) Business Days prior to the proposed date of borrowing of Eurodollar LIBOR Margin Loans) notify each Revolving Lender that submitted a Bid Rate Quote as to whose Bid Rate Quote has been accepted and the amount and rate thereof. A Revolving Lender who is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b)12.8. Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in respect of under such Bid Rate Loan and be entitled to receive payment thereof when due. No Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 p.m. (Chicago time) 11:00 a.m. on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation Principal Office in immediately available funds, for the account of the applicable Borrower. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available to the such Borrower not later than 3:30 p.m. (Chicago time) 12:00 noon on such date by depositing the same, in immediately available funds, in an account of the such Borrower designated by the such Borrower.

Appears in 1 contract

Samples: Credit Agreement (Regency Realty Corp)

Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than (i) 1:30 p.m. (Chicago time) on the proposed date of borrowing of Absolute Rate Loans and (ii) on the date three (3) Business Days prior to the proposed date of borrowing of Eurodollar Term SOFR Margin Loans) notify each Revolving Lender as to whose Bid Rate Quote has been accepted and the amount and rate thereof. A Revolving Lender who is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b). Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in respect of such Bid Rate Loan and be entitled to receive payment thereof when due. No Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 p.m. (Chicago time) on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation in immediately available funds, for the account of the Borrower. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available to the Borrower not later than 3:30 p.m. (Chicago time) on such date by depositing the same, in immediately available funds, in an account of the Borrower designated by the Borrower.

Appears in 1 contract

Samples: Credit Agreement (Extra Space Storage Inc.)

Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than (ix) 1:30 p.m. (Chicago time) 11:30 a.m. Pacific time on the proposed date of borrowing of Absolute Rate Loans and (iiy) on the date three (3) U.S. Government Securities Business Days prior to the proposed date of borrowing of Eurodollar SOFR Margin Loans) notify each Revolving Lender as to whose Bid Rate Quote has been accepted and the amount and rate thereof. A Revolving Lender who is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b12.6.(d). Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in respect of such Bid Rate Loan and be entitled to receive payment thereof when due. No Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 12:30 p.m. (Chicago time) Pacific time on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation Principal Office in immediately available funds, for the account of the Borrower. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available to the Borrower not later than 3:30 1:30 p.m. (Chicago time) Pacific time on such date by depositing the same, in immediately available funds, in an account of the Borrower designated by the Borrower.

Appears in 1 contract

Samples: Credit Agreement (Federal Realty OP LP)

Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than (ix) 1:30 p.m. (Chicago time) 11:30 a.m. Pacific time on the proposed date of borrowing of Absolute Rate Loans and (iiy) on the date three (3) 3 Business Days prior to the proposed date of borrowing of Eurodollar LIBORSOFR Margin Loans) notify each Revolving Lender that submitted a Bid Rate Quote as to whose Bid Rate Quote has been accepted and the amount and rate thereof. A Revolving Lender who is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b12.5(d). Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in respect of such Bid Rate Loan and be entitled to receive payment thereof when due. No Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 12:30 p.m. (Chicago time) Pacific time on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation Principal Office in immediately available funds, for the account of the Borrower. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available to the Borrower not later than 3:30 1:30 p.m. (Chicago time) Pacific time on such date by depositing the same, in immediately available funds, in an account of the Borrower designated by the Borrower.

Appears in 1 contract

Samples: Credit Agreement (UDR, Inc.)

Obligation to Make Bid Rate Loans. The Administrative Agent shall promptly (and in any event not later than (ix) 1:30 p.m. (Chicago time) 12:00 noon on the proposed date of borrowing of Absolute Rate Loans and (iiy) on the date three (3) Business Days prior to the proposed date of borrowing of Eurodollar LIBOR Margin Loans) notify each Revolving Lender as to whose Bid Rate Quote has been accepted and the amount and rate thereof. A Revolving Lender who is notified that it has been selected to make a Bid Rate Loan may designate its Designated Lender (if any) to fund such Bid Rate Loan on its behalf, as described in Section 12.1(b12.5.(e). Any Designated Lender which funds a Bid Rate Loan shall on and after the time of such funding become the obligee in respect of under such Bid Rate Loan and be entitled to receive payment thereof when due. No Revolving Lender shall be relieved of its obligation to fund a Bid Rate Loan, and no Designated Lender shall assume such obligation, prior to the time the applicable Bid Rate Loan is funded. Any Revolving Lender whose offer to make any Bid Rate Loan has been accepted shall, not later than 2:30 1:30 p.m. (Chicago time) on the date specified for the making of such Loan, make the amount of such Loan available to the Administrative Agent at its Lending Installation Principal Office in immediately available funds, for the account of the Borrower. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, be made available to the Borrower not no later than 3:30 2:00 p.m. (Chicago time) on such date by depositing the same, in immediately available funds, in an account of the Borrower designated by the Borrower.

Appears in 1 contract

Samples: Credit Agreement (Commercial Net Lease Realty Inc)

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