Procedure for Advances of Term Loans. The Borrower shall give the Administrative Agent an irrevocable Notice of Borrowing prior to 12:00 p.m. (Charlotte time) on the Closing Date requesting that each Lender with a Term Loan Commitment make the Initial Term Loans as Base Rate Loans 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 Loans as LIBOR Rate Loans if the Borrower has 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 5.11 of this Agreement). The Administrative Agent shall promptly notify the Lenders of such Notice of Borrowing by telecopier (or by telephone promptly confirmed by telecopier). Not later than 3:00 p.m. (Charlotte time) on the Closing Date, each such 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 Initial 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 Initial Term Loans in immediately available funds by wire transfer to such Person or Persons as may be designated by the Borrower.
Procedure for Advances of Term Loans. (a) PROCEDURE FOR ADVANCES OF TERM A LOANS. [Intentionally Omitted].
Procedure for Advances of Term Loans
