Common use of Procedure for Borrowings Clause in Contracts

Procedure for Borrowings. The Borrower shall give the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of each Borrowing substantially in the form of Schedule 2.3 attached hereto (a "Notice of Borrowing") (x) prior to 11:00 a.m. (Eastern Time) on the requested date of each Base Rate Borrowing and (y) prior to 11:00 a.m. (Eastern Time) three (3) Business Days prior to the requested date of each Eurodollar Borrowing. Each Notice of Borrowing shall be irrevocable and shall specify: (i) the aggregate principal amount of such Borrowing, (ii) the date of such Borrowing (which shall be a Business Day), and (iii) in the case of a Eurodollar Borrowing, the duration of the initial Interest Period applicable thereto (subject to the provisions of the definition of Interest Period). Each Borrowing shall consist entirely of Base Rate Loans or Eurodollar Loans, as the Borrower may request. The aggregate principal amount of each Eurodollar Borrowing shall be not less than $500,000 and in integral multiples of $100,000, and the aggregate principal amount of each Base Rate Borrowing shall not be less than $100,000 and in integral multiples of $100,000. At no time shall the total number of Eurodollar Borrowings outstanding at any time exceed six (6). Promptly following the receipt of a Notice of Borrowing in accordance herewith, the Administrative Agent shall advise each Lender of the details thereof and the amount of such Lender's Revolving Loan to be made as part of the requested Borrowing.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Amsurg Corp), Revolving Credit Agreement (Amsurg Corp)

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Procedure for Borrowings. The Borrower shall give the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of each Borrowing substantially in the form of Schedule 2.3 attached hereto Exhibit D (a "Notice of Borrowing") (x) prior to 11:00 a.m. (Eastern Time) on one Business Day prior to the requested date of each Base Rate Borrowing and (y) prior to 11:00 a.m. (Eastern Time) three (3) Business Days prior to the requested date of each Eurodollar Borrowing. Each Notice of Borrowing shall be irrevocable and shall specify: (i) the aggregate principal amount of such Borrowing, (ii) the date of such Borrowing (which shall be a Business Day), (iii) the Type of such Loan comprising such Borrowing and (iiiiv) in the case of a Eurodollar Borrowing, the duration of the initial Interest Period applicable thereto (subject to the provisions of the definition of Interest Period). Each Borrowing shall consist entirely of Base Rate Loans or Eurodollar Loans, as the Borrower may request. The aggregate principal amount of each Eurodollar Borrowing shall be not less than $500,000 and in integral multiples 5,000,000 or a larger multiple of $100,0001,000,000, and the aggregate principal amount of each Base Rate Borrowing shall not be less than $100,000 and in integral multiples 1,000,000 or a larger multiple of $100,000. At no time shall the total number of Eurodollar Borrowings outstanding at any time exceed six (6)five. Promptly following the receipt of a Notice of Borrowing in accordance herewith, the Administrative Agent shall advise each Lender of the details thereof and the amount of such Lender's Revolving Loan to be made as part of the requested Borrowing.

Appears in 1 contract

Samples: Revolving Credit Agreement (Kaneb Pipe Line Partners L P)

Procedure for Borrowings. The applicable Borrower shall give the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of each Borrowing substantially in the form of Schedule Exhibit 2.3 attached hereto (a "Notice of Borrowing") (x) prior to by 11:00 a.m. (Eastern Time) on the requested date of each a Base Rate Borrowing and (y) prior to by 11:00 a.m. (Eastern Time) three (3) Business Days prior to the requested date of each a Eurodollar Borrowing. Each Notice of Borrowing shall be irrevocable and shall specify: (i) the aggregate principal amount of such Borrowing, (ii) the date of such Borrowing (which shall be a Business Day), (iii) the Type of Loan comprising such Borrowing and (iiiiv) in the case of a Eurodollar Borrowing, the duration of the initial Interest Period applicable thereto (subject to the provisions of the definition of Interest Period). Each Borrowing shall consist entirely of Base Rate Loans or Eurodollar Loans, as the applicable Borrower may request, until such Borrower elects a different interest rate option under Section 2.5. The aggregate principal amount of each Eurodollar Borrowing shall be not less than $500,000 and in integral multiples 5,000,000 or a larger multiple of $100,0001,000,000, and the aggregate principal amount of each Base Rate Borrowing shall not be less than $100,000 and in integral multiples 1,000,000 or a larger multiple of $100,000. At no time shall the total number of Eurodollar Borrowings outstanding at any time exceed six (6). Promptly following the receipt of a the Notice of Borrowing in accordance herewith, the Administrative Agent shall advise each Lender of the details thereof and the amount of such Lender's Revolving ’s Loan to be made as part of the requested Borrowing.

Appears in 1 contract

Samples: Credit Agreement (Allegheny Energy Inc)

Procedure for Borrowings. The Borrower shall give the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of each Borrowing substantially in the form of Schedule Exhibit 2.3 attached hereto (a "Notice of Borrowing") (x) prior to by 11:00 a.m. (Eastern Time) on the requested date of each a Base Rate Borrowing and (y) prior to by 11:00 a.m. (Eastern Time) three (3) Business Days prior to the requested date of each a Eurodollar Borrowing. Each The Notice of Borrowing shall be irrevocable and shall specify: (i) the aggregate principal amount of such Borrowing, (ii) the date of such Borrowing (which shall be a Business Day), (iii) the Type of Loan comprising such Borrowing and (iiiiv) in the case of a Eurodollar Borrowing, the duration of the initial Interest Period applicable thereto (subject to the provisions of the definition of Interest Period). Each Borrowing shall consist entirely of Base Rate Loans or Eurodollar Loans, as the Borrower may request, until the Borrower elects a different interest rate option under Section 2.5. The aggregate principal amount of each Eurodollar Borrowing shall be not less than $500,000 and in integral multiples 5,000,000 or a larger multiple of $100,0001,000,000, and the aggregate principal amount of each Base Rate Borrowing shall not be less than $100,000 and in integral multiples 1,000,000 or a larger multiple of $100,000. At no time shall the total number of Eurodollar Borrowings outstanding at any time exceed six (6). Promptly following the receipt of a the Notice of Borrowing in accordance herewith, the Administrative Agent shall advise each Lender of the details thereof and the amount of such Lender's Revolving ’s Loan to be made as part of the requested Borrowing.

Appears in 1 contract

Samples: Credit Agreement (Allegheny Energy Inc)

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Procedure for Borrowings. The Borrower shall give the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of each the Borrowing on the Closing Date substantially in the form of Schedule Exhibit 2.3 attached hereto (a "Notice of Borrowing") (x) prior to 11:00 a.m. (Eastern TimeNew York time) on one (1) Business Day prior to the requested date of each Closing Date if such Borrowing shall be a Base Rate Borrowing and (y) prior to 11:00 a.m. (Eastern TimeNew York time) three (3) Business Days prior to the requested date of each Closing Date if such Borrowing shall be a Eurodollar Borrowing. Each The Notice of Borrowing shall be irrevocable and shall specify: (i) the aggregate principal amount of such Borrowing, (ii) the date of such Borrowing (which shall be a Business Day), (iii) the Type of such Loan comprising such Borrowing and (iiiiv) in the case of a Eurodollar Borrowing, the duration of the initial Interest Period applicable thereto (subject to the provisions of the definition of Interest Period). Each The Borrowing shall consist entirely of Base Rate Loans or Eurodollar Loans, as the Borrower may request. The aggregate principal amount of each Eurodollar Borrowing shall be not less than $500,000 and in integral multiples 5,000,000 or a larger multiple of $100,0001,000,000, and the aggregate principal amount of each Base Rate Borrowing shall not be less than $100,000 and in integral multiples 1,000,000 or a larger multiple of $100,000; provided, that Base Rate Loans made pursuant to Section 2.4 may be made in lesser amounts as provided therein. At no time shall the total number of Eurodollar Borrowings outstanding at any time exceed six (6)six. Promptly following the receipt of a the Notice of Borrowing in accordance herewith, the Administrative Agent shall advise each Lender of the details thereof and the amount of such Lender's Revolving ’s Loan to be made as part of the requested Borrowing.

Appears in 1 contract

Samples: Term Loan Credit Agreement (Atmos Energy Corp)

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