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

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). (b) Upon receipt of such Notice of Term Loan Borrowing from the Company, on behalf of the Borrowers, the Administrative Agent shall promptly notify each Lender thereof. Not later than 2:00 p.m. (Charlotte time) on the applicable borrowing date, each Lender will make available to the Administrative Agent for the account of the Borrowers, at the office of the Administrative Agent in immediately available funds, the amount of such Term A Loan or Term B Loan, as applicable, to be made by such Lender on such borrowing date. The Borrowers hereby irrevocably authorize the Administrative Agent to disburse the proceeds of the Term A Loans or the Term B Loans, as applicable, in immediately available funds by wire transfer to such Person or Persons as may be designated by the Company, on behalf of the Borrowers.

Appears in 1 contract

Samples: Credit Agreement (Global Imaging Systems Inc)

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Procedure for Advance of Term Loans. (a) The CompanyGTS, on behalf of ----------------------------------- the Borrowers, shall give the Administrative Agent irrevocable prior written notice in the form attached hereto as Exhibit B-2 C-2 (a "Notice of Term Loan ----------- Borrowing") (i) with respect to ----------- the Term A Loans if made on the Closing Date, prior to not later than 11:00 a.m. (Charlotte time) on the Closing Date requesting that the Lenders make the Term A Loans and the Term B Loans each as a Base Rate Loan on such date (provided that in an amount equal to the Borrowers may request that the -------- Lenders make the aggregate Term A Loans as LIBOR Rate Loans on such date if the Borrowers have delivered to the Administrative Agent a letter in form Loan Commitment 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 LoansLoan Commitment, 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). (b) respectively. Upon receipt of such Notice of Term Loan Borrowing from the Company, GTS on behalf of the Borrowers, the Administrative Agent shall promptly notify each Lender thereof. Not later than 2:00 p.m. (Charlotte time) on the applicable borrowing dateClosing Date, each Lender will make available to the Administrative Agent Agent, for the account of the Borrowers, at the office of the Administrative Agent in funds immediately available fundsto the Administrative Agent, the amount of such Lender's (i) Term A Loan or Percentage of the Term A Loans and (ii) Term B Loan, as applicable, Loan Percentage of the Term B Loans to be made by such Lender on such borrowing datethe Closing Date. The Borrowers hereby irrevocably authorize the Administrative Agent to disburse the proceeds of the Term A Loans or the Term B Loans, as applicable, each borrowing requested pursuant to this Section 4.2 in immediately available funds by wire transfer crediting or wiring such proceeds to such Person or Persons as may be designated by the Company, on behalf deposit account of the BorrowersBorrowers identified in the Notice of Account Designation. Subject to Section 5.7 hereof, the Administrative Agent shall not be obligated to disburse the portion of the proceeds of any Term Loan requested pursuant to this Section 4.2 to the extent that any Lender has not made available to the Administrative Agent its Term A Loan Percentage of such Term A Loan or Term B Loan Percentage of such Term B Loan, as applicable.

Appears in 1 contract

Samples: Credit Agreement (GTS Duratek Inc)

Procedure for Advance of Term Loans. (a) The Company, on behalf of the Borrowers, Borrower shall give the Administrative Agent an 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, Borrowing prior to 11:00 a.m. (Charlotte time) noon Eastern time on the Closing Date requesting that the Term Loan Lenders make the Initial Term A Loans as a Base Rate Loan on such date (provided that the Borrowers Borrower may request request, no later than three (3) Business Days prior to the Closing Date, that the -------- Lenders make the Initial Term A Loans Loan as a LIBOR Rate Loans on such date Loan if the Borrowers have 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), (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). (b) . Upon receipt of such Notice of Term Loan Borrowing from the Company, on behalf of the BorrowersBorrower, the Administrative Agent shall promptly notify each Term Loan Lender thereof. Not later than 2:00 1:00 p.m. (Charlotte time) Eastern time on the applicable borrowing dateClosing Date, each Term Loan Lender will make available to the Administrative Agent for the account of the BorrowersBorrower, at the office of the Administrative Agent Agent’s Office in immediately available funds, the amount of such Initial Term A Loan or Term B Loan, as applicable, to be made by such Term Loan Lender on such borrowing datethe Closing Date. The Borrowers Borrower hereby irrevocably authorize authorizes the Administrative Agent to disburse the proceeds of the Term A Loans or the Term B Loans, as applicable, Loan in immediately available funds by wire transfer to such Person or Persons as may be designated by the CompanyBorrower in writing. (b) The Borrower shall give the Administrative Agent an irrevocable Notice of Borrowing with respect to each Delayed Draw Term Loan not later than (i) noon Eastern time on the same Business Day as the Delayed Draw Term Loan if the Borrower requests that it be a Base Rate Loan and (ii) noon Eastern time on a day that is at least three (3) Business Days prior to the Delayed Draw Date if the Borrower requests that the Delayed Draw Term Loan be a LIBOR Rate Loan, on behalf of its intention to borrow the Delayed Draw Term Loan, specifying (A) the date of such borrowing, which shall be a Business Day and shall be designated in such Notice of Borrowing as a “Delayed Draw Date”, (B) whether the Delayed Draw Term Loan is to be LIBOR Rate Loan or Base Rate Loan, and (C) if it is to be a LIBOR Rate Loan, the duration of the BorrowersInterest Period applicable thereto. A Notice of Borrowing received after the time set forth herein shall be deemed received on the next Business Day. The Administrative Agent shall promptly notify the Term Loan Lenders of such Notice of Borrowing. Not later than 1:00 p.m. Eastern time on the Delayed Draw 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 Term Loan to be made by such Term Loan Lender on the Delayed Draw Date. The Borrower hereby irrevocably authorizes the Administrative Agent to disburse the proceeds of each Delayed Draw Term Loan in immediately available funds by wire transfer to such Person or Persons as may be designated by the Borrower in writing.

Appears in 1 contract

Samples: Credit Agreement (Blackhawk Network Holdings, Inc)

Procedure for Advance of Term Loans. (a) InitialThird Amendment Term Loan. The Company, on behalf of the Borrowers, Parent Borrower shall give the Administrative Agent an 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, Borrowing prior to 11:00 a.m. (Charlotte time) on the Closing ClosingThird Amendment Effective Date requesting that the Term Loan Lenders make the InitialThird Amendment Term A Loans Loan as a Base Rate Loan on such date (provided that the Borrowers Parent Borrower may request request, no later than threeone (31) Business DaysDay prior to the ClosingThird Amendment Effective Date, that the -------- Term Loan Lenders make the InitialThird Amendment Term A Loans Loan as a LIBOR Rate Loans on such date Loan if the Borrowers have Parent 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 in, subject to Section 5.9 4.9 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). (b) . Upon receipt of such Notice of Term Loan Borrowing from the Company, on behalf of the BorrowersParent Borrower, the Administrative Agent shall promptly notify each Term Loan Lender thereof. Not later than 2:00 1:00 p.m. (Charlotte time) on the applicable borrowing dateClosingThird Amendment Effective Date, each Term Loan Lender will make available to the Administrative Agent for the account of the BorrowersParent Borrower, at the office of the Administrative Agent Agent’s Office in immediately available funds, the amount of such InitialThird Amendment Term A Loan or Term B Loan, as applicable, to be made by such Term Loan Lender on such borrowing datethe ClosingThird Amendment Effective Date. The Borrowers Parent Borrower hereby irrevocably authorize authorizes the Administrative Agent to disburse the proceeds of the InitialThird Amendment Term A Loans or the Term B Loans, as applicable, Loan in immediately available funds by wire transfer to such Person or Persons as may be designated by the Company, on behalf of the BorrowersParent Borrower in writing.

Appears in 1 contract

Samples: Credit Agreement (Ubiquiti Inc.)

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Procedure for Advance of Term Loans. (ai) The Company, on behalf of the Borrowers, Borrower shall give the Administrative Agent an 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, Borrowing prior to 11:00 a.m. (Charlotte time) noon Eastern time on the Closing Date requesting that the Term Loan Lenders make the Initial Term A Loans as a Base Rate Loan on such date (provided that the Borrowers Borrower may request request, no later than three (3) Business Days prior to the Closing Date, that the -------- Lenders make the Initial Term A Loans Loan as a LIBOR Rate Loans on such date Loan if the Borrowers have 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), (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). (b) . Upon receipt of such Notice of Term Loan Borrowing from the Company, on behalf of the BorrowersBorrower, the Administrative Agent shall promptly notify each Term Loan Lender thereof. Not later than 2:00 1:00 p.m. (Charlotte time) Eastern time on the applicable borrowing dateClosing Date, each Term Loan Lender will make available to the Administrative Agent for the account of the BorrowersBorrower, at the office of the Administrative Agent Agent’s Office in immediately available funds, the amount of such Initial Term A Loan or Term B Loan, as applicable, to be made by such Term Loan Lender on such borrowing datethe Closing Date. The Borrowers Borrower hereby irrevocably authorize authorizes the Administrative Agent to disburse the proceeds of the Term A Loans or the Term B Loans, as applicable, Loan in immediately available funds by wire transfer to such Person or Persons as may be designated by the CompanyBorrower in writing. (j) The Borrower shall give the Administrative Agent an irrevocable Notice of Borrowing with respect to each Delayed Draw Term Loan not later than (i) noon Eastern time on the same Business Day as the Delayed Draw Term Loan if the Borrower requests that it be a Base Rate Loan and (ii) noon Eastern time on a day that is at least three (3) Business Days prior to the Delayed Draw Date if the Borrower requests that the Delayed Draw Term Loan be a LIBOR Rate Loan, on behalf of its intention to borrow the Delayed Draw Term Loan, specifying (A) the date of such borrowing, which shall be a Business Day and shall be designated in such Notice of Borrowing as a “Delayed Draw Date”, (B) whether the Delayed Draw Term Loan is to be LIBOR Rate Loan or Base Rate Loan, and (C) if it is to be a LIBOR Rate Loan, the duration of the BorrowersInterest Period applicable thereto. A Notice of Borrowing received after the time set forth herein shall be deemed received on the next Business Day. The Administrative Agent shall promptly notify the Term Loan Lenders of such Notice of Borrowing. Not later than 1:00 p.m. Eastern time on the Delayed Draw 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 Term Loan to be made by such Term Loan Lender on the Delayed Draw Date. The Borrower hereby irrevocably authorizes the Administrative Agent to disburse the proceeds of each Delayed Draw Term Loan in immediately available funds by wire transfer to such Person or Persons as may be designated by the Borrower in writing. (k) The Borrower shall give the Administrative Agent an irrevocable Notice of Borrowing with respect to the Fourth Amendment Term Loan not later than (i) noon Eastern time on the Fourth Amendment Term Loan Funding Date if the Borrower requests that the Fourth Amendment Term Loan be a Base Rate Loan and (ii) noon Eastern time on a day that is at least three (3) Business Days prior to the Fourth Amendment Term Loan Funding Date if the Borrower requests that the Fourth Amendment Term Loan be a LIBOR Rate Loan, of its intention to borrow the Fourth Amendment Term Loan, specifying (A) the date of such borrowing, which shall be a Business Day, (B) the amount of such borrowing (which shall not exceed the amount of the Fourth Amendment Term Loan Commitment, as then in effect), (C) whether the Fourth Amendment Term Loan is to be LIBOR Rate Loan or Base Rate Loan, and (D) if it is to be a LIBOR Rate Loan, the duration of the first Interest Period applicable thereto. A Notice of Borrowing received after the time set forth herein shall be deemed received on the next Business Day. The Administrative Agent shall promptly notify the Fourth Amendment Term Loan Lenders of such Notice of Borrowing. Not later than 1:00 p.m. Eastern time on the Fourth Amendment Term Loan Funding Date, each Fourth Amendment 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 Fourth Amendment Term Loan to be made by such Fourth Amendment Term Loan Lender on the Fourth Amendment Term Loan Funding Date. The Borrower hereby irrevocably authorizes the Administrative Agent to disburse the proceeds of each Fourth Amendment Term Loan in immediately available funds by wire transfer to such Person or Persons as may be designated by the Borrower in writing.

Appears in 1 contract

Samples: Credit Agreement (Blackhawk Network Holdings, Inc)

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