Common use of Procedure for Advance of Term Loan Clause in Contracts

Procedure for Advance of Term Loan. The Borrower shall give the Administrative Agent irrevocable prior written notice in the form attached hereto as Exhibit C (the "Notice of Borrowing") prior to 1:00 p.m. (Charlotte time) on the Closing Date requesting that the Lenders make the Term Loan as a Base Rate Loan on such date. Upon receipt of the Notice of Borrowing from the Borrower, the Administrative Agent shall promptly notify each Lender thereof. On the Closing Date, each Lender will make available to the Administrative Agent for the account of the Borrower, at the office of the Administrative Agent in immediately available funds, the amount of such Term Loan to be made by such Lender on such borrowing date. The Borrower hereby irrevocably authorizes the Administrative Agent to disburse the proceeds of the Term Loan in immediately available funds by crediting or wiring such proceeds to the deposit account of the Borrower identified in the most recent notice substantially in the form of Exhibit D hereto (the "Notice of Account Designation") delivered by the Borrower to the Administrative Agent or as may be otherwise agreed upon by the Borrower and the Administrative Agent.

Procedure for Advance of Term Loan. The Borrower Borrowers shall give the Administrative Agent an irrevocable prior written notice in the form attached hereto as Exhibit C (the "Notice of Borrowing") Borrowing prior to 1:00 p.m. (Charlotte time) 11:00 a.m. on the Closing Date requesting that the Term Loan Lenders make the Term Loan as a Base Rate Loan on such datedate (provided that the Borrowers may request, on or prior to the Closing Date, that the Lenders make the Term Loan as LIBOR Rate Loan if the Borrowers have delivered to the Administrative Agent a letter in form and substance satisfactory to the Administrative Agent indemnifying the Lenders in the manner set forth in Section 5.9 of this Agreement). Upon receipt of the such Notice of Borrowing from the BorrowerBorrowers, the Administrative Agent shall promptly notify each Term Loan Lender thereof. On Not later than 1:00 p.m. on the Closing Date, each Term Loan Lender will make available to the Administrative Agent for the account of the BorrowerBorrowers, at the office of the Administrative Agent Agent’s Office in immediately available funds, the amount of such Term Loan to be made by such Lender on such borrowing date. The Borrower Borrowers hereby irrevocably authorizes authorize the Administrative Agent to disburse the proceeds of the Term Loan in immediately available funds by crediting wire transfer to such Person or wiring such proceeds to the deposit account of the Borrower identified in the most recent notice substantially in the form of Exhibit D hereto (the "Notice of Account Designation") delivered by the Borrower to the Administrative Agent or Persons as may be otherwise agreed upon designated by the Borrower and the Administrative AgentBorrowers in writing.