Common use of Prime Rate Loans Clause in Contracts

Prime Rate Loans. A request for the 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 notifying the Lender, before 12:00 noon (Eastern time) on the proposed borrowing date (10:00 a.m. (Eastern time) in the case of the last Business Day of each calendar month), of its intention to borrow, specifying the effective date and amount of such proposed Prime Rate Revolving Credit Loan; (B) whenever a check is presented to the Lender for payment against the Disbursement Account in an amount greater than the then available balance in such account, such 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 over such available balance, and such request shall be irrevocable; (C) unless payment is otherwise made by the Borrower, the becoming due of any amount required to be paid under this Agreement or the 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 interest, and such request shall be irrevocable; (D) unless payment is otherwise made by the Borrower, the 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 so unreimbursed, and such request shall be irrevocable.

Prime Rate Loans. A 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 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 notifying giving the LenderAgent a Notice of Borrowing, before 12:00 noon (Eastern time) 11:30 a.m. on the proposed borrowing date (10:00 a.m. (Eastern time) in the case of the last 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 of each calendar month), of its intention to borrow, specifying the effective date and amount of such proposed Prime Rate Revolving Credit LoanDay; (B) whenever a check or other item is presented to the Lender a Disbursing Bank for payment against the a Controlled Disbursement Account in an amount greater than the then available balance in such account, such presentation 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 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 amount Secured Obligations, including interest, required to be paid under this Agreement or any of the Note as interest other Loan Documents 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 interestamount, and such request shall be irrevocable;. (D) unless payment is otherwise made the receipt by the BorrowerAgent 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 maturity of any Secured Obligation required to be paid Reimbursement Agreement and ARTICLE 2A, 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. A request for the 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 notifying the Lender, before 12:00 noon (Eastern time) on the proposed borrowing date (10:00 a.m. (Eastern time) in the case of the last Business Day of each calendar month)date, of its intention to borrow, specifying the effective date and amount of such proposed Prime Rate Revolving Credit Loan; (B) whenever a check is presented to the Lender for payment against the Disbursement Account in an amount greater than the then available balance in such account, such presentation shall be deemed to be a request for a Prime Rate Revolving Credit Loan on the date of such notice presentation in an amount equal to the excess of such check over such available balance, and such request shall be irrevocable; (C) unless payment is otherwise made by the Borrower, the becoming due of any amount required to be paid under this Agreement or the 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 interest, and such request shall be irrevocable; (D) unless payment is otherwise made by the Borrower, the 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 of such notification is received failure to reimburse in the amount so unreimbursed, and such request shall be irrevocable.

Prime Rate Loans. A 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 (E) below and the Lenders shall have disbursed such Eurodollar Rate Loan for such purpose, a request for the borrowing of a Prime Rate Revolving Credit 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 Revolving Credit Loan by notifying giving the LenderAgent a Notice of Borrowing, before 12:00 noon (Eastern time) 1:00 p.m. on the proposed borrowing date (10:00 a.m. (Eastern time) in the case of the last borrowing, PROVIDED that if such notice is received after 1:00 p.m. on the proposed date of borrowing, the proposed borrowing will be postponed automatically to the next Business Day of each calendar month), of its intention to borrow, specifying the effective date and amount of such proposed Prime Rate Revolving Credit LoanDay; (B) whenever a check or other item is presented to the Lender a Disbursing Bank for payment against the a Controlled Disbursement Account in an amount greater than the then available balance in such account, such presentation 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 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; (C) unless payment is otherwise made by the Borrower, the becoming due of any amount required to be paid under this Agreement or any of the Note Notes 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 interest, and such request shall be irrevocable;; and (D) unless payment is otherwise made by the Borrower, the maturity becoming due of any other 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 Obligationthen so due, and such request shall be irrevocable; and; (E) whenever the receipt by the Agent of notification from NationsBank to the effect that a drawing is has been made under a Letter of Credit and that the Borrower fails has failed to reimburse NationsBank therefor in accordance with the Lender thereforterms of the Letter of Credit, such failure to reimburse the Reimbursement Agreement and ARTICLE 2A, 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. A Unless the Borrowers shall previously have requested a Eurodollar Rate Loan and authorized the application of the proceeds thereof to any purpose described in clauses (A) through (E) below and the Lenders shall have disbursed such Eurodollar Rate Loan for such purpose, 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) 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 Revolving Credit Loan by notifying giving the LenderAdministrative Agent a Notice of Borrowing, before 12:00 noon (Eastern time) 11:30 a.m. on the proposed borrowing date (10:00 a.m. (Eastern time) in the case of the last Borrowing, provided that if such notice is received after 11:30 a.m. on the proposed date of Borrowing, the proposed Borrowing may be postponed to the next Business Day of each calendar month), of its intention to borrow, specifying the effective date and amount of such proposed Prime Rate Revolving Credit Loan;Day. (B) whenever Whenever a check or other item is presented to the Lender a Disbursing Bank for payment against the a Controlled Disbursement Account in an amount greater than the then available balance in such account, such presentation Disbursing Bank shall, and, is hereby irrevocably authorized by the Borrowers to, give the Administrative Agent notice thereof, which notice 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;. (C) unless Unless payment is otherwise made by the BorrowerBorrowers (or any of them), the becoming coming due of any amount required to be paid under this Agreement or any of the Note Notes 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 interest, and such request shall be irrevocable;. (D) unless Unless payment is otherwise made by the BorrowerBorrowers (or any of them), the maturity coming due of any other 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 Obligationthen so due, and such request shall be irrevocable; and. (E) whenever The receipt by the Administrative Agent of notification from NationsBank to the effect that a drawing is has been made under a Letter of Credit and that the Borrower fails Borrowers have failed to reimburse NationsBank therefor in accordance with the Lender thereforterms of the Letter of Credit, such failure to reimburse any applicable Reimbursement Agreement and Article 3, shall be deemed to be a request for a Prime Rate Revolving Credit Loan on the date such notification is received in the amount so of such drawing which is unreimbursed, and such request shall be irrevocable.