Common use of Prime Rate Loans Clause in Contracts

Prime Rate Loans. Unless the Borrower shall previously have requested a Eurodollar Rate Loan and authorized the application of the proceeds thereof to any purpose described in CLAUSES (A) through (D) below and the Lenders shall have disbursed such Eurodollar Rate Loan for such purpose, a request for the Borrowing of a Prime Rate Loan shall be made, or shall be deemed to be made, in the following manner: (A) the Borrower may request a Prime Rate Loan by giving the Agent a Notice of Borrowing, before 11:30 a.m. on the proposed date of the Borrowing, PROVIDED that if such notice is received after 11:30 a.m. on the proposed date of Borrowing, the proposed Borrowing will be postponed automatically to the next Business Day; (B) whenever a check or other item is presented to a Disbursing Bank for payment against a Controlled Disbursement Account in an amount greater than the then available balance in such account, such Disbursing Bank shall, and is hereby irrevocably authorized by the Borrower to, give the Agent notice thereof, which notice shall be deemed to be a request for a Prime Rate Loan on the date of such notice in an amount equal to the excess of such check or other item over such available balance, and such request shall be irrevocable; and (C) unless payment is otherwise made by the Borrower, the becoming due of any Secured Obligations, including interest, required to be paid under this Agreement or any of the other Loan Documents shall be deemed to be a request for a Prime Rate Loan on the due date in such amount, and such request shall be irrevocable. (D) the receipt by the Agent of notification from NationsBank to the effect that a drawing has been made under a Letter of Credit and that the Borrower has failed to reimburse NationsBank therefor in accordance with the terms of the Letter of Credit, the Reimbursement Agreement and ARTICLE 2A, shall be deemed to be a request for a Prime Rate Loan on the date such notification is received in the amount of such drawing which is so unreimbursed.

Prime Rate Loans. Unless the Borrower shall previously have requested a Eurodollar Rate Loan and authorized the application of the proceeds thereof to any purpose described in CLAUSES (A) through (D) below and the Lenders shall have disbursed such Eurodollar Rate Loan for such purpose, a A request for the Borrowing borrowing of a Prime Rate Revolving Credit Loan shall be made, or shall be deemed to be made, in the following manner: (A) the Borrower may request a Prime Rate Revolving Credit Loan by giving notifying the Agent a Notice of BorrowingLender, before 11:30 a.m. 12:00 noon (Eastern time) on the proposed borrowing date (10:00 a.m. (Eastern time) in the case of the Borrowinglast Business Day of each calendar month), PROVIDED that if of its intention to borrow, specifying the effective date and amount of such notice is received after 11:30 a.m. on the proposed date of Borrowing, the proposed Borrowing will be postponed automatically to the next Business DayPrime Rate Revolving Credit Loan; (B) whenever a check or other item is presented to a Disbursing Bank the Lender for payment against a Controlled the Disbursement Account in an amount greater than the then available balance in such account, such Disbursing Bank shall, and is hereby irrevocably authorized by the Borrower to, give the Agent notice thereof, which notice presentation shall be deemed to be a request for a Prime Rate Revolving Credit Loan on the date of such notice in an amount equal to the excess of such check or other item over such available balance, and such request shall be irrevocable; and; (C) unless payment is otherwise made by the Borrower, the becoming due of any Secured Obligations, including interest, amount required to be paid under this Agreement or any of the other Loan Documents Note as interest shall be deemed to be a request for a Prime Rate Revolving Credit Loan on the due date in the amount required to pay such amountinterest, and such request shall be irrevocable.; (D) the receipt unless payment is otherwise made by the Agent of notification from NationsBank to the effect that a drawing has been made under a Letter of Credit and that the Borrower has failed to reimburse NationsBank therefor in accordance with the terms of the Letter of CreditBorrower, the Reimbursement Agreement and ARTICLE 2A, maturity of any Secured Obligation required to be paid shall be deemed to be a request for a Prime Rate Revolving Credit Loan on the due date in the amount required to pay such Secured Obligation, and such request shall be irrevocable; and (E) whenever a drawing is made under a Letter of Credit and the Borrower fails to reimburse the Lender therefor, such failure to reimburse shall be deemed to be a request for a Prime Rate Revolving Credit Loan on the date such notification is received in the amount of such drawing which is so unreimbursed, and such request shall be irrevocable.

Prime Rate Loans. Unless the Borrower Borrowers shall previously have requested a Eurodollar Rate Loan and authorized the application of the proceeds thereof to any purpose described in CLAUSES clauses (A) through (DE) below and the Lenders shall have disbursed such Eurodollar Rate Loan for such purpose, a request for the Borrowing of a Prime Rate Loan shall be made, or shall be deemed to be made, in the following manner: (A) With respect to the Borrower Initial Loan (which may only be a Prime Rate Loan), the Borrowers shall give the Administrative Agent an Initial Notice of Borrowing at least two Business Days prior to the proposed date of the Borrowing, and, with respect to each subsequent Borrowing, the Borrowers may request a Prime Rate Loan by giving the Administrative Agent a Notice of Borrowing, before 11:30 a.m. on the proposed date of the Borrowing, PROVIDED provided that if such notice is received after 11:30 a.m. on the proposed date of Borrowing, the proposed Borrowing will may be postponed automatically to the next Business Day;. (B) whenever Whenever a check or other item is presented to a Disbursing Bank for payment against a Controlled Disbursement Account in an amount greater than the then available balance in such account, such Disbursing Bank shall, and and, is hereby irrevocably authorized by the Borrower Borrowers to, give the Administrative Agent notice thereof, which notice shall be deemed to be a request for a Prime Rate Loan on the date of such notice in an amount equal to the excess of such check or other item over such available balance, and such request shall be irrevocable; and. (C) unless Unless payment is otherwise made by the BorrowerBorrowers (or any of them), the becoming coming due of any Secured Obligations, including interest, amount required to be paid under this Agreement or any of the other Loan Documents Notes as interest shall be deemed to be a request for a Prime Rate Loan on the due date in the amount required to pay such amountinterest, and such request shall be irrevocable. (D) Unless payment is otherwise made by the Borrowers (or any of them), the coming due of any other Secured Obligation shall be deemed to be a request for a Prime Rate Loan on the due date in the amount then so due, and such request shall be irrevocable. (E) The receipt by the Administrative Agent of notification from NationsBank to the effect that a drawing has been made under a Letter of Credit and that the Borrower has Borrowers have failed to reimburse NationsBank therefor in accordance with the terms of the Letter of Credit, the any applicable Reimbursement Agreement and ARTICLE 2AArticle 3, shall be deemed to be a request for a Prime Rate Loan on the date such notification is received in the amount of such drawing which is so unreimbursed.

Prime Rate Loans. Unless the Borrower shall previously have requested a Eurodollar Rate Loan and authorized the application of the proceeds thereof to any purpose described in CLAUSES (A) through (D) below and the Lenders shall have disbursed such Eurodollar Rate Loan for such purpose, a A request for the Borrowing borrowing of a Prime Rate Loan shall be made, or shall be deemed to be made, in the following manner: (A) the Borrower may request a Prime Rate Loan by giving notifying the Agent a Notice of BorrowingLender, before 11:30 a.m. 12:00 noon (Eastern time) on the proposed borrowing date, of its intention to borrow, specifying the effective date and amount of the Borrowing, PROVIDED that if such notice is received after 11:30 a.m. on the proposed date of Borrowing, the proposed Borrowing will be postponed automatically to the next Business DayPrime Rate Loan; (B) whenever a check or other item is presented to a Disbursing Bank the Lender for payment against a Controlled the Disbursement Account in an amount greater than the then available balance in such account, such Disbursing Bank shall, and is hereby irrevocably authorized by the Borrower to, give the Agent notice thereof, which notice presentation shall be deemed to be a request for a Prime Rate Loan on the date of such notice presentation in an amount equal to the excess of such check or other item over such available balance, and such request shall be irrevocable; and; (C) unless payment is otherwise made by the Borrower, the becoming due of any Secured Obligations, including interest, amount required to be paid under this Agreement or any of the other Loan Documents Note as interest shall be deemed to be a request for a Prime Rate Loan on the due date in the amount required to pay such amountinterest, and such request shall be irrevocable.; (D) the receipt unless payment is otherwise made by the Agent Borrower, the maturity of notification from NationsBank any Secured Obligation required to be paid shall be deemed to be a request for a Prime Rate Loan on the effect that due date in the amount required to pay such Secured Obligation, and such request shall be irrevocable; and (E) whenever a drawing has been is made under a Letter of Credit and that the Borrower has failed fails to reimburse NationsBank therefor in accordance with the terms of the Letter of CreditLender therefor, the Reimbursement Agreement and ARTICLE 2A, such failure to reimburse shall be deemed to be a request for a Prime Rate Loan on the date of such notification is received failure to reimburse in the amount of such drawing which is so unreimbursed, and such request shall be irrevocable.

Prime Rate Loans. Unless the Borrower shall previously have requested a Eurodollar Rate Loan and authorized the application of the proceeds thereof to any purpose described in CLAUSES (A) through (DE) below and the Lenders shall have disbursed such Eurodollar Rate Loan for such purpose, a request for the Borrowing borrowing of a Prime Rate Loan shall be made, or shall be deemed to be made, in the following manner: (A) with respect to the initial borrowing to be made on the Effective Date, which shall be a Prime Rate Loan, the Borrower shall give the Agent an Initial Notice of Borrowing at least two Business Days prior to the proposed date of the borrowing, and, with respect to each subsequent borrowing, the Borrower may request a Prime Rate Loan by giving the Agent a Notice of Borrowing, before 11:30 a.m. 1:00 p.m. on the proposed date of the Borrowingborrowing, PROVIDED that if such notice is received after 11:30 a.m. 1:00 p.m. on the proposed date of Borrowingborrowing, the proposed Borrowing borrowing will be postponed automatically to the next Business Day; (B) whenever a check or other item is presented to a Disbursing Bank for payment against a Controlled Disbursement Account in an amount greater than the then available balance in such account, such Disbursing Bank shall, and is hereby irrevocably authorized by the Borrower to, give the Agent notice thereof, which notice shall be deemed to be a request for a Prime Rate Loan on the date of such notice in an amount equal to the excess of such check or other item over such available balance, and such request shall be irrevocable; and; (C) unless payment is otherwise made by the Borrower, the becoming due of any Secured Obligations, including interest, amount required to be paid under this Agreement or any of the other Loan Documents Notes as interest shall be deemed to be a request for a Prime Rate Loan on the due date in the amount required to pay such amountinterest, and such request shall be irrevocable.; and (D) unless payment is otherwise made by the Borrower, the becoming due of any other Secured Obligation shall be deemed to be a request for a Prime Rate Loan on the due date in the amount then so due, and such request shall be irrevocable; (E) the receipt by the Agent of notification from NationsBank to the effect that a drawing has been made under a Letter of Credit and that the Borrower has failed to reimburse NationsBank therefor in accordance with the terms of the Letter of Credit, the Reimbursement Agreement and ARTICLE 2A, shall be deemed to be a request for a Prime Rate Loan on the date such notification is received in the amount of such drawing which is so unreimbursed.