Common use of Procedure for Borrowing by the Company Clause in Contracts

Procedure for Borrowing by the Company. (a) The Company may borrow under the Commitments on the Closing Date and on any Business Day thereafter. The Company shall give the Administrative Agent irrevocable notice (which notice must be received by the Administrative Agent prior to (i) 1:00 P.M., New York City time, three (3) Business Days prior to the requested Borrowing Date in the case of a proposed borrowing of Term Benchmark Loans and (ii) 2:00 P.M., New York City time, on the requested Borrowing Date if the borrowing is to be solely of ABR Loans; provided that any such notice of a borrowing of ABR Loans to finance the reimbursement of an L/C Disbursement as contemplated by Section 2.6(a) may be given not later than 1:00 P.M., New York City time, on the date of the proposed borrowing) signed by a Responsible Officer of the Company specifying (A) the amount of the borrowing, (B) whether such Loans are initially to be Term Benchmark Loans or ABR Loans, or a combination thereof, (C) if the borrowing is to be entirely or partly Term Benchmark Loans, the length of the Interest Period for such Term Benchmark Loans and (D) the amount of such borrowing to be constituted by Revolving Credit Loans and/or Incremental Revolving Credit Loans. Upon receipt of such notice the Administrative Agent shall promptly notify each Lender, which notice shall in any event be delivered to each Lender by 2:00 P.M., New York City time, on such date. Not later than 3:00 P.M., New York City time, on the Borrowing Date specified in such notice, each Lender shall make available to the Administrative Agent at the office of the Administrative Agent specified in Section 12.2 (or at such other location as the Administrative Agent may direct) in Dollars an amount in Same Day Funds equal to the amount of the Loan to be made by such Lender. Loan proceeds received by the Administrative Agent hereunder shall promptly be made available to the Company by the Administrative Agent’s crediting the account of the Company designated by the Company, with the aggregate amount actually received by the Administrative Agent from the Lenders and in like funds as received by the Administrative Agent; provided that Revolving Credit Loans made to finance the reimbursement of an L/C Disbursement as provided in Section 2.6 shall be remitted by the Administrative Agent to the applicable Issuing Lender.

Appears in 3 contracts

Samples: Credit Agreement (NGL Energy Partners LP), Credit Agreement (NGL Energy Partners LP), Credit Agreement (NGL Energy Partners LP)

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Procedure for Borrowing by the Company. (a) The Company may borrow under the Commitments on the Closing Date and on any Business Day thereafterDay. The Company shall give the Administrative Agent irrevocable notice (which notice must be received by the Administrative Agent prior to (i) 1:00 P.M., New York City time, three (3) Business Days prior to the requested Borrowing Date in the case of a proposed borrowing of Term Benchmark Eurodollar Loans and (ii) 2:00 P.M.11:00 A.M., New York City time, on the requested Borrowing Date if the borrowing is to be solely of ABR Loans; provided that any such notice of a borrowing of ABR Loans to finance the reimbursement of an L/C Disbursement as contemplated by Section 2.6(a) may be given not later than 1:00 P.M., New York City time, on the date of the proposed borrowing) signed by a Responsible Officer of the Company specifying (A) the amount of the borrowing, (B) whether such Loans are initially to be Term Benchmark Eurodollar Loans or ABR Loans, or a combination thereof, (C) if the borrowing is to be entirely or partly Term Benchmark Eurodollar Loans, the length of the Interest Period for such Term Benchmark Eurodollar Loans and (D) the amount of such borrowing to be constituted by Revolving Credit Loans and/or Incremental Revolving Credit Loans. Upon receipt of such notice the Administrative Agent shall promptly notify each Lender, Lender (which notice shall in any event be delivered to each Lender by 2:00 P.M.12:00 Noon, New York City time, on such datedate or, in the case of Loans to be made on the Restatement Effective Date, promptly following receipt thereof by the Administrative Agent). Not later than 3:00 P.M.1:00 PM, New York City time, on the Borrowing Date specified in such notice, each Lender shall make available to the Administrative Agent at the office of the Administrative Agent specified in Section 12.2 (or at such other location as the Administrative Agent may direct) in Dollars an amount in Same Day Funds equal to the amount of the Loan to be made by such Lender. Loan Subject to Section 2.7(b), loan proceeds received by the Administrative Agent hereunder shall promptly be made available to the Company by the Administrative Agent’s crediting the account of the Company designated by the Company, with the aggregate amount actually received by the Administrative Agent from the Lenders and in like funds as received by the Administrative Agent; provided that Revolving Credit Loans made to finance the reimbursement of an L/C Disbursement as provided in Section 2.6 shall be remitted by the Administrative Agent to the applicable Issuing Lender.

Appears in 3 contracts

Samples: Credit Agreement (Be Aerospace Inc), Credit Agreement (Be Aerospace Inc), Credit Agreement (Be Aerospace Inc)

Procedure for Borrowing by the Company. (a) The Company may borrow under the Commitments on the Closing Date and on any Business Day thereafterafter the Effective Date. The Company shall give the Administrative Agent irrevocable notice (which notice must be received by the Administrative Agent prior to (i) 1:00 P.M., New York City time, three (3) Business Days prior to the requested Borrowing Date in the case of a proposed borrowing of Term Benchmark Eurodollar Loans and (ii) 2:00 P.M.11:00 A.M., New York City time, on the requested Borrowing Date if the borrowing is to be solely of ABR Loans; provided that any such notice of a borrowing of ABR Loans to finance the reimbursement of an L/C Disbursement as contemplated by Section 2.6(a) may be given not later than 1:00 P.M., New York City time, on the date of the proposed borrowing) signed by a Responsible Officer of the Company specifying (A) the amount of the borrowing, (B) whether such Loans are initially to be Term Benchmark Eurodollar Loans or ABR Loans, or a combination thereof, (C) if the borrowing is to be entirely or partly Term Benchmark Eurodollar Loans, the length of the Interest Period for such Term Benchmark Eurodollar Loans and (D) the amount of such borrowing to be constituted by Revolving Credit Loans and/or Incremental Revolving Credit Loans. Upon receipt of such notice the Administrative Agent shall promptly notify each Lender, which notice shall in any event be delivered to each Lender by 2:00 P.M.12:00 Noon, New York City time, on such date. Not later than 3:00 P.M.2:00 PM, New York City time, on the Borrowing Date specified in such notice, each Lender shall make available to the Administrative Agent at the office of the Administrative Agent specified in Section 12.2 (or at such other location as the Administrative Agent may direct) in Dollars an amount in Same Day Funds equal to the amount of the Loan to be made by such Lender. Loan Subject to Section 2.7(b), loan proceeds received by the Administrative Agent hereunder shall promptly be made available to the Company by the Administrative Agent’s crediting the account of the Company designated by the Company, with the aggregate amount actually received by the Administrative Agent from the Lenders and in like funds as received by the Administrative Agent; provided that Revolving Credit Loans made to finance the reimbursement of an L/C Disbursement as provided in Section 2.6 shall be remitted by the Administrative Agent to the applicable Issuing Lender.

Appears in 2 contracts

Samples: Credit Agreement (KLX Inc.), Credit Agreement (KLX Inc.)

Procedure for Borrowing by the Company. (a) The Company may borrow under the Commitments on the Closing Date and on any Business Day thereafterDay. The With respect to any borrowings to take place on the Amendment Effective Date, the Company shall give the Administrative Agent irrevocable notice (which notice must be received by the Administrative Agent prior to 10:00 A.M., New York City time, on the Amendment Effective Date). With respect to any subsequent borrowings, the Company shall give the Administrative Agent irrevocable notice (which notice must be received by the Administrative Agent prior to (i) 1:00 P.M., New York City time, three (3) Business Days prior to the requested Borrowing Date in the case of a proposed borrowing of Term Benchmark Eurodollar Loans and (ii) 2:00 P.M.11:00 A.M., New York City time, on the requested Borrowing Date if the borrowing is to be solely of ABR Loans; provided that any such notice of a borrowing of ABR Loans to finance the reimbursement of an L/C LC Disbursement as contemplated by Section 2.6(asubsection 4.6(a) may be given not later than 1:00 P.M., New York City time, on the date of the proposed borrowing) signed by a Responsible Officer of the Company specifying (A) the amount of the borrowing, (B) whether such Loans are initially to be Term Benchmark Eurodollar Loans or ABR Loans, or a combination thereof, (C) if the borrowing is to be entirely or partly Term Benchmark Eurodollar Loans, the length of the Interest Period for such Term Benchmark Eurodollar Loans and (D) the amount of such borrowing to be constituted by Revolving Credit Loans and/or Incremental Revolving Credit Additional Term Loans. Upon receipt of such notice the Administrative Agent shall promptly notify each Lender, Lender (which notice shall in any event be delivered to each Lender by 2:00 3:00 P.M., New York City time, on such datedate or, in the case of Loans to be made on the Amendment Effective Date, promptly following receipt thereof by the Administrative Agent). Not later than 3:00 P.M.12:00 Noon, New York City time, on the Borrowing Date specified in such notice, each Lender shall make available to the Administrative Agent at the office of the Administrative Agent specified in Section subsection 12.2 (or at such other location as the Administrative Agent may direct) in Dollars an amount in Same Day Funds equal to the amount of the Loan to be made by such Lender. Loan Subject to subsection 4.7(b) and any irrevocable direction of the Company pursuant to subsection 4.1(a), loan proceeds received by the Administrative Agent hereunder shall promptly be made available to the Company by the Administrative Agent’s 's crediting the account of the Company designated by the Company, with the aggregate amount actually received by the Administrative Agent from the Lenders and in like funds as received by the Administrative Agent; provided that Revolving Credit Loans made to finance the reimbursement of an L/C Disbursement as provided in Section 2.6 subsection 4.6 shall be remitted by the Administrative Agent to the applicable Issuing Lender.

Appears in 1 contract

Samples: Credit Agreement (Be Aerospace Inc)

Procedure for Borrowing by the Company. (a) The Company may borrow under the Commitments on any Working Day, if the Closing Date and borrowing is of Eurodollar Loans, or on any Business Day thereafterDay, if the borrowing is of ABR Loans. The With respect to any borrowings, the Company shall give the Administrative Agent irrevocable notice (which notice must be received by the Administrative Agent prior to (i) 1:00 P.M., New York City time, (i) three (3) Business Working Days prior to the requested Borrowing Date in if all or any part of the case of a proposed borrowing of Term Benchmark Loans are to be Eurodollar Loans and (ii) 2:00 P.M., New York City time, on one Business Day prior to the requested Borrowing Date if the borrowing is to be solely of ABR Loans; provided that any such notice of a borrowing of ABR Loans to finance the reimbursement of an L/C Disbursement as contemplated by Section 2.6(a) may be given not later than 1:00 P.M., New York City time, on the date of the proposed borrowing) signed by a Responsible Officer of the Company specifying (A) the amount of the borrowing, (B) whether such Loans are initially to be Term Benchmark Eurodollar Loans or ABR Loans, or a combination thereof, (C) if the borrowing is to be entirely or partly Term Benchmark Eurodollar Loans, the length of the Interest Period for such Term Benchmark Loans Eurodollar Loans, and (D) if the borrowing is to be made after the Closing Date, the amount of such borrowing to be constituted by Revolving Credit Loans and/or Incremental Revolving Credit Loans. Upon receipt of such notice the Administrative Agent shall promptly notify each Lender, Lender (which notice shall in any event be delivered to each Lender by 2:00 4:00 P.M., New York City time, on such datedate or, in the case of Loans to be made on the Closing Date, promptly following receipt thereof by the Administrative Agent). Not later than 3:00 P.M.12:00 Noon, New York City time, on the Borrowing Date specified in such notice, each Lender shall make available to the Administrative Agent at the office of the Administrative Agent specified in Section 12.2 subsection 11.2 (or at such other location as the Administrative Agent may direct) in Dollars an amount in Same Day Funds immediately available funds equal to the amount of the Loan to be made by such Lender. Subject to subsection 3.7(b), Loan proceeds received by the Administrative Agent hereunder shall promptly be made available to the Company by the Administrative Agent’s crediting the account of the Company designated by Company, at the Companyoffice of the Administrative Agent specified in subsection 11.2, with the aggregate amount actually received by the Administrative Agent from the Lenders and in like funds as received by the Administrative Agent; provided that Revolving Credit Loans made to finance the reimbursement of an L/C Disbursement as provided in Section 2.6 shall be remitted by the Administrative Agent to the applicable Issuing Lender.

Appears in 1 contract

Samples: Credit Agreement (Citadel Broadcasting Corp)

Procedure for Borrowing by the Company. (a) The Company may borrow under the Commitments on the Closing Date and on any Business Day thereafterafter the Funding Date. The Company shall give the Administrative Agent irrevocable notice (which notice must be received by the Administrative Agent prior to (i) 1:00 P.M., New York City time, three (3) Business Days prior to the requested Borrowing Date in the case of a proposed borrowing of Term Benchmark Eurodollar Loans and (ii) 2:00 P.M.11:00 A.M., New York City time, on the requested Borrowing Date if the borrowing is to be solely of ABR Loans; provided that any such notice of a borrowing of ABR Loans to finance the reimbursement of an L/C Disbursement as contemplated by Section 2.6(a) may be given not later than 1:00 P.M., New York City time, on the date of the proposed borrowing) signed by a Responsible Officer of the Company specifying (A) the amount of the borrowing, (B) whether such Loans are initially to be Term Benchmark Eurodollar Loans or ABR Loans, or a combination thereof, (C) if the borrowing is to be entirely or partly Term Benchmark Eurodollar Loans, the length of the Interest Period for such Term Benchmark Eurodollar Loans and (D) the amount of such borrowing to be constituted by Revolving Credit Loans and/or Incremental Revolving Credit Loans. Upon receipt of such notice the Administrative Agent shall promptly notify each Lender, which notice shall in any event be delivered to each Lender by 2:00 P.M.12:00 Noon, New York City time, on such date. Not later than 3:00 2:00 P.M., New York City time, on the Borrowing Date specified in such notice, each Lender shall make available to the Administrative Agent at the office of the Administrative Agent specified in Section 12.2 (or at such other location as the Administrative Agent may direct) in Dollars an amount in Same Day Funds equal to the amount of the Loan to be made by such Lender. Loan proceeds received by the Administrative Agent hereunder shall promptly be made available to the Company by the Administrative Agent’s crediting the account of the Company designated by the Company, with the aggregate amount actually received by the Administrative Agent from the Lenders and in like funds as received by the Administrative Agent; provided that Revolving Credit Loans made to finance the reimbursement of an L/C Disbursement as provided in Section 2.6 shall be remitted by the Administrative Agent to the applicable Issuing Lender.

Appears in 1 contract

Samples: Credit Agreement (KLX Energy Services Holdings, Inc.)

Procedure for Borrowing by the Company. (a) The Company may borrow under the Commitments on the Closing Date and on any Business Day thereafter. The Company shall give the Administrative Agent irrevocable notice (which notice must be received by the Administrative Agent prior to (i) 1:00 P.M., New York City time, three (3) Business Days prior to the requested Borrowing Date in the case of a proposed borrowing of Term Benchmark Eurodollar Loans and (ii) 2:00 P.M., New York City time, on the requested Borrowing Date if the borrowing is to be solely of ABR Loans; provided that any such notice of a borrowing of ABR Loans to finance the reimbursement of an L/C Disbursement as contemplated by Section 2.6(a) may be given not later than 1:00 P.M., New York City time, on the date of the proposed borrowing) signed by a Responsible Officer of the Company specifying (A) the amount of the borrowing, (B) whether such Loans are initially to be Term Benchmark Eurodollar Loans or ABR Loans, or a combination thereof, (C) if the borrowing is to be entirely or partly Term Benchmark Eurodollar Loans, the length of the Interest Period for such Term Benchmark Eurodollar Loans and (D) the amount of such borrowing to be constituted by Revolving Credit Loans and/or Incremental Revolving Credit Loans. Upon receipt of such notice the Administrative Agent shall promptly notify each Lender, which notice shall in any event be delivered to each Lender by 2:00 P.M., New York City time, on such date. Not later than 3:00 P.M., New York City time, on the Borrowing Date specified in such notice, each Lender shall make available to the Administrative Agent at the office of the Administrative Agent specified in Section 12.2 (or at such other location as the Administrative Agent may direct) in Dollars an amount in Same Day Funds equal to the amount of the Loan to be made by such Lender. Loan proceeds received by the Administrative Agent hereunder shall promptly be made available to the Company by the Administrative Agent’s crediting the account of the Company designated by the Company, with the aggregate amount actually received by the Administrative Agent from the Lenders and in like funds as received by the Administrative Agent; provided that Revolving Credit Loans made to finance the reimbursement of an L/C Disbursement as provided in Section 2.6 shall be remitted by the Administrative Agent to the applicable Issuing Lender.

Appears in 1 contract

Samples: Credit Agreement (NGL Energy Partners LP)

Procedure for Borrowing by the Company. (a) The Company may borrow under the Commitments on any Working Day, if the Closing Date and borrowing is of Eurodollar Loans, or on any Business Day thereafterDay, if the borrowing is of ABR Loans. The With respect to the borrowings to take place on the Closing Date, the Company shall give the Administrative Agent irrevocable notice (which notice must be received by the Administrative Agent prior to (i) 1:00 P.M.10:00 A.M., New York City time, on the Closing Date). With respect to any subsequent borrowings, the Company shall give the Administrative Agent irrevocable notice (which notice must be received by the Administrative Agent prior to 12:00 Noon, New York City time, (i) three (3) Business Working Days prior to the requested Borrowing Date in if all or any part of the case of a proposed borrowing of Term Benchmark Loans are to be Eurodollar Loans and (ii) 2:00 P.M., New York City time, on one Business Day prior to the requested Borrowing Date if the borrowing is to be solely of ABR Loans; provided that any such notice of a borrowing of ABR Loans to finance the reimbursement of an L/C Disbursement as contemplated by Section 2.6(a) may be given not later than 1:00 P.M., New York City time, on the date of the proposed borrowing) signed by a Responsible Officer of the Company specifying (A) the amount of the borrowing, (B) whether such Loans are initially to be Term Benchmark Eurodollar Loans or ABR Loans, or a combination thereof, (C) if the borrowing is to be entirely or partly Term Benchmark Eurodollar Loans, the length of the Interest Period for such Term Benchmark Loans and Eurodollar Loans, (D) if the borrowing is to be made after the Closing Date, the amount of such borrowing to be constituted by Revolving Credit Loans and/or Incremental Revolving Loans and (E) if the borrowing is to be made on the Closing Date, the amount of such borrowing to be constituted by Tranche A Term Loans, Tranche B Term Loans and/or Revolving Credit Loans. Upon receipt of such notice the Administrative Agent shall promptly notify each Lender, Lender (which notice shall in any event be delivered to each Lender by 2:00 4:00 P.M., New York City time, on such datedate or, in the case of Loans to be made on the Closing Date, promptly following receipt thereof by the Administrative Agent). Not later than 3:00 P.M.12:00 Noon, New York City time, on the Borrowing Date specified in such notice, each Lender shall make available to the Administrative Agent at the office of the Administrative Agent specified in Section 12.2 subsection 16.2 (or at such other location as the Administrative Agent may direct) in Dollars an amount in Same Day Funds immediately available funds equal to the amount of the Loan to be made by such Lender. Loan Subject to subsection 6.7(b) and any irrevocable direction of the Company pursuant to subsection 6.1(a), loan proceeds received by the Administrative Agent hereunder shall promptly be made available to the Company by the Administrative Agent’s 's crediting the account of the Company designated by Company, at the Companyoffice of the Administrative Agent specified in subsection 16.2, with the aggregate amount actually received by the Administrative Agent from the Lenders and in like funds as received by the Administrative Agent; provided that Revolving Credit Loans made to finance the reimbursement of an L/C Disbursement as provided in Section 2.6 shall be remitted by the Administrative Agent to the applicable Issuing Lender.

Appears in 1 contract

Samples: Credit Agreement (Citadel Broadcasting Co)

Procedure for Borrowing by the Company. (a) The Company may borrow under the Commitments on any Working Day, if the Closing Date and borrowing is of Eurodollar Loans, or on any Business Day thereafterDay, if the borrowing is of ABR Loans. The With respect to the borrowings to take place on the Closing Date, the Company shall give the Administrative Agent irrevocable notice (which notice must be received by the Administrative Agent prior to (i) 1:00 P.M.10:00 A.M., New York City time, on the Closing Date). With respect to any subsequent borrowings, the Company shall give the Administrative Agent irrevocable notice (which notice must be received by the Administrative Agent prior to 12:00 Noon, New York City time, (i) three (3) Business Working Days prior to the requested Borrowing Date in if all or any part of the case of a proposed borrowing of Term Benchmark Loans are to be Eurodollar Loans and (ii) 2:00 P.M., New York City time, on one Business Day prior to the requested Borrowing Date if the borrowing is to be solely of ABR Loans; provided that any such notice of a borrowing of ABR Loans to finance the reimbursement of an L/C Disbursement as contemplated by Section 2.6(a) may be given not later than 1:00 P.M., New York City time, on the date of the proposed borrowing) signed by a Responsible Officer of the Company specifying (A) the amount of the borrowing, (B) whether such Loans are initially to be Term Benchmark Eurodollar Loans or ABR Loans, or a combination thereof, (C) if the borrowing is to be entirely or partly Term Benchmark Eurodollar Loans, the length of the Interest Period for such Term Benchmark Loans Eurodollar Loans, and (D) if the borrowing is to be made on or after the Closing Date, the amount of such borrowing to be constituted by Revolving Credit Loans and/or Incremental Revolving Credit Loans. Upon receipt of such notice the Administrative Agent shall promptly notify each Lender, Lender (which notice shall in any event be delivered to each Lender by 2:00 4:00 P.M., New York City time, on such datedate or, in the case of Loans to be made on the Closing Date, promptly following receipt thereof by the Administrative Agent). Not later than 3:00 P.M.12:00 Noon, New York City time, on the Borrowing Date specified in such notice, each Lender shall make available to the Administrative Agent at the office of the Administrative Agent specified in Section 12.2 subsection 16.2 (or at such other location as the Administrative Agent may direct) in Dollars an amount in Same Day Funds immediately available funds equal to the amount of the Loan to be made by such Lender. Loan Subject to subsection 6.7(b) and any irrevocable direction of the Company pursuant to subsection 6.1(a), loan proceeds received by the Administrative Agent hereunder shall promptly be made available to the Company by the Administrative Agent’s crediting the account of the Company designated by Company, at the Companyoffice of the Administrative Agent specified in subsection 16.2, with the aggregate amount actually received by the Administrative Agent from the Lenders and in like funds as received by the Administrative Agent; provided that Revolving Credit Loans made to finance the reimbursement of an L/C Disbursement as provided in Section 2.6 shall be remitted by the Administrative Agent to the applicable Issuing Lender.

Appears in 1 contract

Samples: Credit Agreement (Citadel Broadcasting Corp)

Procedure for Borrowing by the Company. (a) The Company may borrow under the Commitments on any Working Day, if the Closing Date and borrowing is of Eurodollar Loans, or on any Business Day thereafterDay, if the borrowing is of ABR Loans. The With respect to the borrowings to take place on the Closing Date, the Company shall give the Administrative Agent irrevocable notice (which notice must be received by the Administrative Agent prior to (i) 1:00 P.M.10:00 A.M., New York City time, on the Closing Date). With respect to any subsequent borrowings, the Company shall give the Administrative Agent irrevocable notice (which notice must be received by the Administrative Agent prior to 12:00 Noon, New York City time, (i) three (3) Business Working Days prior to the requested Borrowing Date in if all or any part of the case of a proposed borrowing of Term Benchmark Loans are to be Eurodollar Loans and (ii) 2:00 P.M., New York City time, on one Business Day prior to the requested Borrowing Date if the borrowing is to be solely of ABR Loans; provided that any such notice of a borrowing of ABR Loans to finance the reimbursement of an L/C Disbursement as contemplated by Section 2.6(a) may be given not later than 1:00 P.M., New York City time, on the date of the proposed borrowing) signed by a Responsible Officer of the Company specifying (A) the amount of the borrowing, (B) whether such Loans are initially to be Term Benchmark Eurodollar Loans or ABR Loans, or a combination thereof, thereof and (C) if the borrowing is to be entirely or partly Term Benchmark Eurodollar Loans, the length of the Interest Period for such Term Benchmark Loans and (D) the amount of such borrowing to be constituted by Revolving Credit Loans and/or Incremental Revolving Credit Eurodollar Loans. Upon receipt of such notice the Administrative Agent shall promptly notify each Lender, Lender (which notice shall in any event be delivered to each Lender by 2:00 4:00 P.M., New York City time, on such date). Not later than 3:00 P.M.12:00 Noon, New York City time, on the Borrowing Date specified in such notice, each Lender shall make available to the Administrative Agent at the office of the Administrative Agent specified in Section 12.2 subsection 11.2 (or at such other location as the Administrative Agent may direct) in Dollars an amount in Same Day Funds immediately available funds equal to the amount of the Loan to be made by such Lender. Loan Subject to subsection 3.7(b) and any irrevocable direction of the Company pursuant to subsection 3.1(a), loan proceeds received by the Administrative Agent hereunder shall promptly be made available to the Company by the Administrative Agent’s 's crediting the account of the Company designated by Company, at the Companyoffice of the Administrative Agent specified in subsection 11.2, with the aggregate amount actually received by the Administrative Agent from the Lenders and in like funds as received by the Administrative Agent; provided that Revolving Credit Loans made to finance the reimbursement of an L/C Disbursement as provided in Section 2.6 shall be remitted by the Administrative Agent to the applicable Issuing Lender.

Appears in 1 contract

Samples: Credit Agreement (Yankee Candle Co Inc)

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Procedure for Borrowing by the Company. (a) The Company may borrow under the Commitments on any Working Day, if the Closing Date and borrowing is of Eurodollar Loans, or on any Business Day thereafterDay, if the borrowing is of ABR Loans. The With respect to the borrowings to take place on the Closing Date, the Company shall give the Administrative Agent irrevocable notice (which notice must be received by the Administrative Agent prior to (i) 1:00 P.M.10:00 A.M., New York City time, on the Closing Date). With respect to any subsequent borrowings, the Company shall give the Administrative Agent irrevocable notice (which notice must be received by the Administrative Agent prior to 12:00 Noon, New York City time, (i) three (3) Business Working Days prior to the requested Borrowing Date in if all or any part of the case of a proposed borrowing of Term Benchmark Loans are to be Eurodollar Loans and (ii) 2:00 P.M., New York City time, on one Business Day prior to the requested Borrowing Date if the borrowing is to be solely of ABR Loans; provided that any such notice of a borrowing of ABR Loans to finance the reimbursement of an L/C Disbursement as contemplated by Section 2.6(a) may be given not later than 1:00 P.M., New York City time, on the date of the proposed borrowing) signed by a Responsible Officer of the Company specifying (A) the amount of the borrowing, (B) whether such Loans are initially to be Term Benchmark Eurodollar Loans or ABR Loans, or a combination thereof, (C) if the borrowing is to be entirely or partly Term Benchmark Eurodollar Loans, the length of the Interest Period for such Term Benchmark Loans and Eurodollar Loans, (D) if the borrowing is to be made after the Closing Date, the amount of such borrowing to be constituted by Revolving Credit Loans and/or Incremental Acquisition Loans and (E) if the borrowing is to be made on the Closing Date, the amount of such borrowing to be constituted by Additional Tranche D Term Loans and/or Revolving Credit Loans. Upon receipt of such notice the Administrative Agent shall promptly notify each Lender, Lender (which notice shall in any event be delivered to each Lender by 2:00 4:00 P.M., New York City time, on such date). Not later than 3:00 P.M.12:00 Noon, New York City time, on the Borrowing Date specified in such notice, each Lender shall make available to the Administrative Agent at the office of the Administrative Agent specified in Section 12.2 subsection 16.2 (or at such other location as the Administrative Agent may direct) in Dollars an amount in Same Day Funds immediately available funds equal to the amount of the Loan to be made by such Lender. Loan Subject to subsection 6.7(b) and any irrevocable direction of the Company pursuant to subsection 6.1(a), loan proceeds received by the Administrative Agent hereunder shall promptly be made available to the Company by the Administrative Agent’s 's crediting the account of the Company designated by Company, at the Companyoffice of the Administrative Agent specified in subsection 16.2, with the aggregate amount actually received by the Administrative Agent from the Lenders and in like funds as received by the Administrative Agent; provided that Revolving Credit Loans made to finance the reimbursement of an L/C Disbursement as provided in Section 2.6 shall be remitted by the Administrative Agent to the applicable Issuing Lender.

Appears in 1 contract

Samples: Credit Agreement (Community Health Systems Inc/)

Procedure for Borrowing by the Company. (a) The Company may borrow under the Commitments on any Business Day. With respect to any borrowings to take place on the Closing Date and Date, the Company shall give the Administrative Agent irrevocable notice (which notice must be received by the Administrative Agent prior to 10:00 A.M., New York City time, on the Closing Date). With respect to any Business Day thereafter. The subsequent borrowings, the Company shall give the Administrative Agent irrevocable notice (which notice must be received by the Administrative Agent prior to (i) 1:00 P.M., New York City time, three (3) Business Days prior to the requested Borrowing Date in the case of a proposed borrowing of Term Benchmark Eurodollar Loans and (ii) 2:00 P.M.11:00 A.M., New York City time, on the requested Borrowing Date if the borrowing is to be solely of ABR Loans; provided that any such notice of a borrowing of ABR Loans to finance the reimbursement of an L/C Disbursement as contemplated by Section 2.6(a4.6(a) may be given not later than 1:00 P.M., New York City time, on the date of the proposed borrowing) signed by a Responsible Officer of the Company specifying (A) the amount of the borrowing, (B) whether such Loans are initially to be Term Benchmark Eurodollar Loans or ABR Loans, or a combination thereof, (C) if the borrowing is to be entirely or partly Term Benchmark Eurodollar Loans, the length of the Interest Period for such Term Benchmark Eurodollar Loans and (D) the amount of such borrowing to be constituted by Revolving Credit Loans and/or Incremental Revolving Credit Additional Term Loans. Upon receipt of such notice the Administrative Agent shall promptly notify each Lender, Lender (which notice shall in any event be delivered to each Lender by 2:00 3:00 P.M., New York City time, on such datedate or, in the case of Loans to be made on the Closing Date, promptly following receipt thereof by the Administrative Agent). Not later than 3:00 P.M.12:00 Noon, New York City time, on the Borrowing Date specified in such notice, each Lender shall make available to the Administrative Agent at the office of the Administrative Agent specified in Section 12.2 (or at such other location as the Administrative Agent may direct) in Dollars an amount in Same Day Funds equal to the amount of the Loan to be made by such Lender. Loan Subject to Section 4.7(b) and any irrevocable direction of the Company pursuant to Section 4.1(a), loan proceeds received by the Administrative Agent hereunder shall promptly be made available to the Company by the Administrative Agent’s crediting the account of the Company designated by the Company, with the aggregate amount actually received by the Administrative Agent from the Lenders and in like funds as received by the Administrative Agent; provided that Revolving Credit Loans made to finance the reimbursement of an L/C Disbursement as provided in Section 2.6 4.6 shall be remitted by the Administrative Agent to the applicable Issuing Lender.

Appears in 1 contract

Samples: Security Agreement (Be Aerospace Inc)

Procedure for Borrowing by the Company. (a) The Company may borrow under the Commitments on any Working Day, if the Closing Date and borrowing is of Eurodollar Loans, or on any Business Day thereafterDay, if the borrowing is of ABR Loans. The With respect to the borrowings to take place on the Closing Date, the Company shall give the Administrative Agent irrevocable notice (which notice must be received by the Administrative Agent prior to (i) 1:00 P.M.10:00 A.M., New York City time, on the Closing Date). With respect to any subsequent borrowings, the Company shall give the Administrative Agent irrevocable notice (which notice must be received by the Administrative Agent prior to 12:00 Noon, New York City time, (i) three (3) Business Working Days prior to the requested Borrowing Date in if all or any part of the case of a proposed borrowing of Term Benchmark Loans are to be Eurodollar Loans and (ii) 2:00 P.M., New York City time, on one Business Day prior to the requested Borrowing Date if the borrowing is to be solely of ABR Loans; provided that any such notice of a borrowing of ABR Loans to finance the reimbursement of an L/C Disbursement as contemplated by Section 2.6(a) may be given not later than 1:00 P.M., New York City time, on the date of the proposed borrowing) signed by a Responsible Officer of the Company specifying (A) the amount of the borrowing, (B) whether such Loans are initially to be Term Benchmark Eurodollar Loans or ABR Loans, or a combination thereof, (C) if the borrowing is to be entirely or partly Term Benchmark Eurodollar Loans, the length of the Interest Period for such Term Benchmark Loans and Eurodollar Loans, (D) if the borrowing is to be made after the Closing Date, the amount of such borrowing to be constituted by Revolving Credit Loans and/or Incremental Revolving Loans and (E) if the borrowing is to be made on the Closing Date, the amount of such borrowing to be constituted by Tranche A Term Loans, Tranche B Term Loans and/or Revolving Credit Loans. Upon receipt of such notice the Administrative Agent shall promptly notify each Lender, Lender (which notice shall in any event be delivered to each Lender by 2:00 4:00 P.M., New York City time, on such datedate or, in the case of Loans to be made on the Closing Date, promptly following receipt thereof by the Administrative Agent). Not later than 3:00 P.M.12:00 Noon, New York City time, on the Borrowing Date specified in such notice, each Lender shall make available to the Administrative Agent at the office of the Administrative Agent specified in Section 12.2 subsection 16.2 (or at such other location as the Administrative Agent may direct) in Dollars an amount in Same Day Funds immediately available funds equal to the amount of the Loan to be made by such Lender. Loan Subject to subsection 6.7(b), loan proceeds received by the Administrative Agent hereunder shall promptly be made available to the Company by the Administrative Agent’s crediting the account of the Company designated by Company, at the Companyoffice of the Administrative Agent specified in subsection 16.2, with the aggregate amount actually received by the Administrative Agent from the Lenders and in like funds as received by the Administrative Agent; provided that Revolving Credit Loans made to finance the reimbursement of an L/C Disbursement as provided in Section 2.6 shall be remitted by the Administrative Agent to the applicable Issuing Lender.

Appears in 1 contract

Samples: Credit Agreement (Citadel Broadcasting Corp)

Procedure for Borrowing by the Company. (a) The Company may borrow under the Commitments on any Business Day. With respect to any borrowings to take place on the Closing Date and Date, the Company shall give the Administrative Agent irrevocable notice (which notice must be received by the Administrative Agent prior to 10:00 A.M., New York City time, on the Closing Date). With respect to any Business Day thereafter. The subsequent borrowings, the Company shall give the Administrative Agent irrevocable notice (which notice must be received by the Administrative Agent prior to (i) 1:00 P.M., New York City time, three (3) Business Days prior to the requested Borrowing Date in the case of a proposed borrowing of Term Benchmark Eurodollar Loans and (ii) 2:00 P.M.11:00 A.M., New York City time, on the requested Borrowing Date if the borrowing is to be solely of ABR Loans; provided that any such notice of a borrowing of ABR Loans to finance the reimbursement of an L/C LC Disbursement as contemplated by Section 2.6(asubsection 4.6(a) may be given not later than 1:00 P.M., New York City time, on the date of the proposed borrowing) signed by a Responsible Officer of the Company specifying (A) the amount of the borrowing, (B) whether such Loans are initially to be Term Benchmark Eurodollar Loans or ABR Loans, or a combination thereof, (C) if the borrowing is to be entirely or partly Term Benchmark Eurodollar Loans, the length of the Interest Period for such Term Benchmark Eurodollar Loans and (D) the amount of such borrowing to be constituted by Revolving Credit Loans and/or Incremental Revolving Credit Term Loans. Upon receipt of such notice the Administrative Agent shall promptly notify each Lender, Lender (which notice shall in any event be delivered to each Lender by 2:00 3:00 P.M., New York City time, on such datedate or, in the case of Loans to be made on the Closing Date, promptly following receipt thereof by the Administrative Agent). Not later than 3:00 P.M.12:00 Noon, New York City time, on the Borrowing Date specified in such notice, each Lender shall make available to the Administrative Agent at the office of the Administrative Agent specified in Section subsection 12.2 (or at such other location as the Administrative Agent may direct) in Dollars an amount in Same Day Funds equal to the amount of the Loan to be made by such Lender. Loan Subject to subsection 4.7(b) and any irrevocable direction of the Company pursuant to subsection 4.1(a), loan proceeds received by the Administrative Agent hereunder shall promptly be made available to the Company by the Administrative Agent’s 's crediting the account of the Company designated by the Company, with the aggregate amount actually received by the Administrative Agent from the Lenders and in like funds as received by the Administrative Agent; provided that Revolving Credit Loans made to finance the reimbursement of an L/C Disbursement as provided in Section 2.6 subsection 4.6 shall be remitted by the Administrative Agent to the applicable Issuing Lender.

Appears in 1 contract

Samples: Credit Agreement (Be Aerospace Inc)

Procedure for Borrowing by the Company. (a) The Company may borrow under the Commitments on any Working Day, if the Closing Date and borrowing is of Eurodollar Loans, or on any Business Day thereafterDay, if the borrowing is of ABR Loans. The With respect to the borrowings to take place on the Closing Date, the Company shall give the Administrative Agent irrevocable notice (which notice must be received by the Administrative Agent prior to (i) 1:00 P.M.10:00 A.M., New York City time, on the Closing Date). With respect to any subsequent borrowings, the Company shall give the Administrative Agent irrevocable notice (which notice must be received by the Administrative Agent prior to 12:00 Noon, New York City time, (i) three (3) Business Working Days prior to the requested Borrowing Date in if all or any part of the case of a proposed borrowing of Term Benchmark Loans are to be Eurodollar Loans and (ii) 2:00 P.M., New York City time, on one Business Day prior to the requested Borrowing Date if the borrowing is to be solely of ABR Loans; provided that any such notice of a borrowing of ABR Loans to finance the reimbursement of an L/C Disbursement as contemplated by Section 2.6(a) may be given not later than 1:00 P.M., New York City time, on the date of the proposed borrowing) signed by a Responsible Officer of the Company specifying (A) the amount of the borrowing, (B) whether such Loans are initially to be Term Benchmark Eurodollar Loans or ABR Loans, or a combination thereof, (C) if the borrowing is to be entirely 39 or partly Term Benchmark Eurodollar Loans, the length of the Interest Period for such Term Benchmark Loans and Eurodollar Loans, (D) if the borrowing is to be made after the Closing Date, the amount of such borrowing to be constituted by Revolving Credit Loans and/or Incremental Revolving Loans and (E) if the borrowing is to be made on the Closing Date, the amount of such borrowing to be constituted by Tranche A Term Loans, Tranche B Term Loans and/or Revolving Credit Loans. Upon receipt of such notice the Administrative Agent shall promptly notify each Lender, Lender (which notice shall in any event be delivered to each Lender by 2:00 4:00 P.M., New York City time, on such datedate or, in the case of Loans to be made on the Closing Date, promptly following receipt thereof by the Administrative Agent). Not later than 3:00 P.M.12:00 Noon, New York City time, on the Borrowing Date specified in such notice, each Lender shall make available to the Administrative Agent at the office of the Administrative Agent specified in Section 12.2 subsection 16.2 (or at such other location as the Administrative Agent may direct) in Dollars an amount in Same Day Funds immediately available funds equal to the amount of the Loan to be made by such Lender. Loan Subject to subsection 6.7(b) and any irrevocable direction of the Company pursuant to subsection 6.1(a), loan proceeds received by the Administrative Agent hereunder shall promptly be made available to the Company by the Administrative Agent’s 's crediting the account of the Company designated by Company, at the Companyoffice of the Administrative Agent specified in subsection 16.2, with the aggregate amount actually received by the Administrative Agent from the Lenders and in like funds as received by the Administrative Agent; provided that Revolving Credit Loans made to finance the reimbursement of an L/C Disbursement as provided in Section 2.6 shall be remitted by the Administrative Agent to the applicable Issuing Lender.

Appears in 1 contract

Samples: Credit Agreement (Citadel Broadcasting Corp)

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