Procedure for Advance of Term Loans Sample Clauses

Procedure for Advance of Term Loans. The Borrower shall give the Administrative Agent an irrevocable Notice of Borrowing prior to 11:00 a.m. on the Closing Date requesting that the Term Loan Lenders make the Term Loan B as a Base Rate Loan (provided that the Borrower may request, no later than three (3) Business Days prior to the Closing Date, that the Term Loan Lenders make the Term Loan B as a LIBOR Rate Loan if the Borrower has delivered to the Administrative Agent a letter in form and substance reasonably satisfactory to the Administrative Agent indemnifying the Term Loan Lenders in the manner set forth in Section 5.10 of this Agreement) and the Term Loan C as a RTFC Variable Rate Loan, as applicable, on such date. Upon receipt of such Notice of Borrowing from the Borrower, the Administrative Agent shall promptly notify each Term Loan Lender thereof. Not later than 2:00 p.m. on the Closing Date, each Term Loan 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 B and Term Loan C, as applicable, to be made by such Term Loan Lender on the Closing Date. The Borrower hereby irrevocably authorizes the Administrative Agent to disburse the proceeds of the Term Loans in immediately available funds by wire transfer to such Person or Persons as may be designated by the Borrower in writing.
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Procedure for Advance of Term Loans. (a) The Borrower shall give the Administrative Agent an irrevocable Notice of Borrowing prior to noon Eastern time on the Closing Date requesting that the Term Loan Lenders make the Initial Term Loan on such date (provided that the Borrower may request, no later than three (3) Business Days prior to the Closing Date, that the Lenders make the Initial Term Loan as a LIBOR Rate Loan if the Borrower has delivered to the Administrative Agent a letter in form and substance reasonably satisfactory to the Administrative Agent indemnifying the Lenders in the manner set forth in Section 5.9 of this Agreement). Upon receipt of such Notice of Borrowing from the Borrower, the Administrative Agent shall promptly notify each Term Loan Lender thereof. Not later than 1:00 p.m. Eastern time on the Closing Date, each Term Loan Lender will make available to the Administrative Agent for the account of the Borrower, at the Administrative Agent’s Office in immediately available funds, the amount of such Initial Term Loan to be made by such Term Loan Lender on the Closing Date. The Borrower hereby irrevocably authorizes the Administrative Agent to disburse the proceeds of the Term Loan in immediately available funds by wire transfer to such Person or Persons as may be designated by the Borrower in writing.
Sample 1
Procedure for Advance of Term Loans. (a) The Company, on behalf of the Borrowers, shall give the Administrative Agent irrevocable prior written notice in the form attached hereto as Exhibit B-2 (a "Notice of Term Loan Borrowing") (i) with respect to ----------- the Term A Loans if made on the Closing Date, prior to 11:00 a.m. (Charlotte time) on the Closing Date requesting that the Lenders make the Term A Loans as a Base Rate Loan on such date (provided that the Borrowers may request that the -------- Lenders make the Term A Loans as LIBOR Rate Loans on such date 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), (ii) with respect to the Term A Loans if made after the Closing Date, prior to 11:00 a.m. (Charlotte time) (A) on such date requesting that the Lenders make the Term A Loans as a Base Rate Loan on such date or (B) three (3) Business Days prior to such date requesting that the Lenders make the Term A Loans as a LIBOR Rate Loan on such date and (iii) with respect to the Term B Loans, prior to 11:00 a.m. (Charlotte time) on the Closing Date requesting that the Lenders make the Term B Loans as Base Rate Loans on such date (provided that the Borrowers may request that the Lenders -------- make the Term B Loans as LIBOR Rate Loans on such date 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).
Sample 1
Procedure for Advance of Term Loans. (a) The Borrower shall give the Administrative Agent a Notice of Term Loan Borrowing prior to 1:00 p.m. (Charlotte time) on the Closing Date, requesting that the Lenders make the Term Loans as Base Rate Loans on such date in an amount equal to the aggregate Term Loan Commitment of all the Lenders.
Sample 1
Procedure for Advance of Term Loans. (a) The Borrower shall give the Administrative Agent a Notice of Term Loan Borrowing prior to 11:00 a.m. (Charlotte time) on the Closing Date, requesting that the Lenders make the Term Loans as a Base Rate Loan on such date in an amount equal to the aggregate Term Loan Commitment.
Sample 1
Procedure for Advance of Term Loans. (a) Requests for Borrowing. GTS, on behalf of the Borrowers, shall give the Administrative Agent irrevocable prior written notice in the form attached hereto as Exhibit C-2 (a "Notice of Term Loan Borrowing") not later than 11:00 a.m. (Charlotte time) (i) at least one (1) Business Day before each Term Loan that is a Base Rate Loan and (ii) at least three (3) Business Days before each Term Loan that is a LIBOR Rate Loan, of its intention to borrow, specifying (A) the date of such borrowing, which shall be a Business Day, (B) the amount of such borrowing, which shall be (x) with respect to Base Rate Loans in an aggregate principal amount of $1,000,000 or a whole multiple of $250,000 in excess thereof and (y) with respect to LIBOR Rate Loans in an aggregate principal amount of $2,000,000 or a whole multiple of $500,000 in excess thereof, (C) whether such Term Loan is to be a Term A Loan or Term B Loan, (D) whether such Term Loan is to be a LIBOR Rate Loan or a Base Rate Loan, and (E) in the case of a LIBOR Rate Loan, the duration of the Interest Period applicable thereto; provided, that LIBOR Rate Loans shall not be available until three (3) Business Days following the Closing Date. Notices received after 11:00 a.m. (Charlotte time) shall be deemed received on the next Business Day. The Administrative Agent shall promptly notify the Lenders of each Notice of Term Loan Borrowing.
Sample 1
Procedure for Advance of Term Loans 
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Related to Procedure for Advance of Term Loans

  • Procedure for Term Loan Borrowing The Borrower shall deliver to the Administrative Agent a Borrowing Notice (which shall be irrevocable and must be received by the Administrative Agent prior to 11:00 a.m., New York City time, in the case of borrowing of Eurodollar Loans, three (3) Business Days prior to the anticipated Closing Date and, in the case of a borrowing of ABR Loans, one (1) Business Day prior to the anticipated Closing Date) requesting that the Term Lenders make the Term Loans on the Closing Date in an amount equal to the aggregate amount of Term Commitments. Upon receipt of any such Borrowing Notice the Administrative Agent shall promptly notify each relevant Term Lender thereof. Not later than 12:00 Noon, New York City time, on the Closing Date, each Term Lender shall make available to the Administrative Agent at the Funding Office (or by wire transfer to the Administrative Agent Account, unless otherwise directed in writing by the Administrative Agent) an amount in immediately available funds equal to the Term Loan to be made by such Lender. The Administrative Agent shall credit the account of the Borrower on the books of such office of the Administrative Agent with the aggregate of the amounts made available to the Administrative Agent by the applicable Term Lenders in immediately available funds. Subject to Section 2.21(g) to the extent applicable, the respective obligations of each Lender under this Agreement are several and not joint and no Lender shall be responsible for the failure of any other Lender to satisfy its obligations hereunder.

  • Repayment of Term Loans The Term Loan of each Term Loan Lender shall mature in 28 consecutive quarterly installments, commencing on June 30, 2004 and ending on March 4, 2011, each of which shall be in an amount equal to such Lender's Term Loan Percentage multiplied by the amount set forth below opposite such installment: Installment Principal Amount ----------- ---------------- June 30, 2004 $ 450,000 September 30, 2004 $ 450,000 December 31, 2004 $ 450,000 March 31, 2005 $ 450,000 June 30, 2005 $ 450,000 September 30, 2005 $ 450,000 December 31, 2005 $ 450,000 March 31, 2006 $ 450,000 June 30, 2006 $ 450,000 September 30, 2006 $ 450,000 December 31, 2006 $ 450,000 March 31, 2007 $ 450,000 June 30, 2007 $ 450,000 September 30, 2007 $ 450,000 December 31, 2007 $ 450,000 March 31, 2008 $ 450,000 June 30, 2008 $ 450,000 September 30, 2008 $ 450,000 December 31, 2008 $ 450,000 March 31, 2009 $ 450,000 June 30, 2009 $ 450,000 September 30, 2009 $ 450,000 Installment Principal Amount ----------- ---------------- December 31, 2009 $ 450,000 March 31, 2010 $ 450,000 June 30, 2010 $42,300,000 September 30, 2010 $42,300,000 December 31, 2010 $42,300,000 March 4, 2011 $42,300,000

  • Permitted Prepayment of Term Loans Borrower shall have the option to prepay all, but not less than all, of the Term Loans advanced by the Lenders under this Agreement, provided Borrower (i) provides written notice to Collateral Agent of its election to prepay the Term Loans at least thirty (30) days prior to such prepayment, and (ii) pays to the Lenders on the date of such prepayment, payable to each Lender in accordance with its respective Pro Rata Share, an amount equal to the sum of (A) all outstanding principal of the Term Loans plus accrued and unpaid interest thereon through the prepayment date, (B) the Final Payment, (C) the Prepayment Fee, plus (D) all other Obligations that are due and payable, including Lenders’ Expenses and interest at the Default Rate with respect to any past due amounts.

  • Repayment of Term Loan The principal amount of the Term Loan shall be repaid in consecutive quarterly installments as follows, unless accelerated sooner pursuant to Section 7.2: Principal Amortization Payment Dates Term Loan Principal Amortization Payment September 30, 2007 $ 559,375 December 31, 2007 $ 559,375 March 31, 2008 $ 559,375 June 30, 2008 $ 559,375 September 30, 2008 $ 1,118,750 December 31, 2008 $ 1,118,750 March 31, 2009 $ 1,118,750 June 30, 2009 $ 1,118,750 September 30, 2009 $ 1,678,175 December 31, 2009 $ 1,678,175 March 31, 2010 $ 1,678,175 June 30, 2010 $ 1,678,175 September 30, 2010 $ 2,237,500 December 31, 2010 $ 2,237,500 March 31, 2011 $ 2,237,500 June 30, 2011 $ 2,237,500 September 30, 2011 $ 2,237,500 December 31, 2011 $ 2,237,500 March 31, 2012 $ 2,237,500 Term Loan Maturity Date The remaining outstanding principal amount of the Term Loan

  • Funding of Term Loans On the Effective Date, each Lender will make its Term Loan Commitment Percentage of the aggregate amount of Term Loans requested by the Borrowers available to the Administrative Agent by deposit, in Dollars and in immediately available funds, at the Administrative Agent's office at the Agency Services Address or at such other address as the Administrative Agent may designate in writing. The amount of the Term Loans will then be made available to the Borrowers by the Administrative Agent by crediting the account of the Borrowers on the books of such office of the Administrative Agent, to the extent the amount of such Term Loans are made available to the Administrative Agent. All Term Loans made on the Effective Date shall be Base Rate Loans. Thereafter, all or any portion of the Term Loans may be converted into Eurodollar Loans in accordance with the terms of Section 2.1(d) and the definition of "Interest Period" set forth in Section 1.1. No Lender shall be responsible for the failure or delay by any other Lender in its obligation to make a Term Loan hereunder; provided, however, that the failure of any Lender to fulfill its obligations hereunder shall not relieve any other Lender of its obligations hereunder. Unless the Administrative Agent shall have been notified by any Lender prior to the date of the Term Loans that such Lender does not intend to make available to the Administrative Agent its portion of the Term Loans to be made on such date, the Administrative Agent may assume that such Lender has or will make the amount of its Term Loan available to the Administrative Agent on the Effective Date, and the Administrative Agent in reliance upon such assumption, may (in its sole discretion but without any obligation to do so) make available to the Borrowers a corresponding amount. If such corresponding amount is not in fact made available to the Administrative Agent, the Administrative Agent shall be able to recover such corresponding amount from such Lender. If such Lender does not pay such corresponding amount forthwith upon the Administrative Agent's demand therefor, the Administrative Agent will promptly notify the Borrowers, and the Borrowers shall immediately pay such corresponding amount to the Administrative Agent. The Administrative Agent shall also be entitled to recover from such Lender or the Borrowers, as the case may be, interest on such corresponding amount in respect of each day from the date such corresponding amount was made available by the Administrative Agent to the Borrowers to the date such corresponding amount is recovered by the Administrative Agent at a per annum rate equal to (i) from the Borrowers at the Adjusted Base Rate and (ii) from such Lender at the Federal Funds Rate if paid within two Business Days of the date of drawing and thereafter at a rate equal to the Base Rate.

  • Borrowing Mechanics for Term Loans (i) the Borrower shall deliver to the Administrative Agent a fully executed Borrowing Notice no later than three (3) Business Days prior to the Closing Date. Promptly upon receipt by the Administrative Agent of such Borrowing Notice, the Administrative Agent shall notify each Lender of the proposed borrowing.

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