Common use of Procedure for Initial Term Loan Borrowing Clause in Contracts

Procedure for Initial Term Loan Borrowing. The Borrower shall give the Administrative Agent irrevocable written notice (which notice must be received by the Administrative Agent one Business Day prior to the anticipated Closing Date) requesting that the Term Lenders make the Initial Term Loans on the Closing Date and specifying the amount to be borrowed and the requested Interest Period, if applicable. Upon receipt of such notice the Administrative Agent shall promptly notify each Term Lender thereof. Not later than 11:00 A.M., New York City time, on the Closing Date each Term Lender shall make available to the Administrative Agent at the Funding Office an amount in immediately available funds equal to the Initial Term Loan or Initial Term Loans to be made by such Lender. The Administrative Agent shall credit the account designated in writing by the Borrower to the Administrative Agent with the aggregate of the amounts made available to the Administrative Agent by the Term Lenders in immediately available funds.

Appears in 4 contracts

Samples: Credit Agreement (Booz Allen Hamilton Holding Corp), Credit Agreement (Booz Allen Hamilton Holding Corp), Credit Agreement (Booz Allen Hamilton Holding Corp)

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Procedure for Initial Term Loan Borrowing. The Borrower shall give the Administrative Agent irrevocable written notice (which notice must be received by the Administrative Agent prior to 11:00 A.M., New York City time, one (1) Business Day prior to the anticipated Closing Date) requesting that the Initial Term Lenders Lender make the Initial Term Loans on the Closing Date and specifying the amount to be borrowed and the requested Interest Period, if applicableborrowed. Upon receipt of such notice the Administrative Agent Agent, shall promptly notify each Initial Term Lender thereof. Not later than 11:00 A.M.12:00 Noon, New York City time, on the Closing Date Date, each Initial Term Lender shall make available to the Administrative Agent at the Funding Office an amount in immediately available funds equal to the Initial Term Loan or Initial Term Loans to be made by such Initial Term Lender. The Administrative Agent shall credit the account designated in writing by of the Borrower to on the books of such office of the Administrative Agent with the aggregate of the amounts made available to the Administrative Agent by the Initial Term Lenders in immediately available funds.

Appears in 2 contracts

Samples: Intercreditor Agreement (Philadelphia Energy Solutions Inc.), Credit Agreement (Philadelphia Energy Solutions Inc.)

Procedure for Initial Term Loan Borrowing. The Borrower shall give deliver to the Administrative Agent irrevocable written notice a Borrowing Notice (which notice Borrowing Notice must be received by the Administrative Agent prior to 11:00 A.M. (local time in New York City) (or, solely in respect of the following clause (i), such later time in the same Business Day as agreed to by the Administrative Agent in its sole discretion), (i) three Business Days prior to the requested Borrowing Date, in the case of Term SOFR Loans, or (ii) one Business Day prior to the anticipated Closing requested Borrowing Date) requesting that , in the Term Lenders make the Initial Term Loans on the Closing Date and specifying the amount to be borrowed and the requested Interest Period, if applicablecase of Base Rate Loans). Upon receipt of such notice Borrowing Notice the Administrative Agent shall promptly notify each Initial Term Loan Lender thereof. Not later than 11:00 A.M., 1:00 P.M. (local time in New York City time, City) on the Closing Initial Term Loan Funding Date each Initial Term Loan Lender shall make available to the Administrative Agent at the Funding Office an amount in immediately available funds equal to the Initial Term Loan or Initial Term Loans to be made by such Lender. The Administrative Agent shall credit the account designated in writing by make available to the Borrower to the Administrative Agent with the aggregate of the amounts made available to the Administrative Agent by the Initial Term Lenders Loan Lenders, in immediately available fundslike funds as received by the Administrative Agent.

Appears in 1 contract

Samples: Credit Agreement (Essential Properties Realty Trust, Inc.)

Procedure for Initial Term Loan Borrowing. The Borrower Borrowers shall give the Administrative Agent irrevocable written notice pursuant to a Notice of Borrowing (which notice must be received by the Administrative Agent prior to 11:00 A.M., New York City time, (a) three Business Days prior to the anticipated Closing Date, in the case of Eurodollar Loans, or (b) one Business Day prior to the anticipated Closing Date) , in the case of ABR Loans), requesting that the Term Lenders make the Initial Term Loans Loan on the Closing Date and specifying the amount to be borrowed and the requested Interest Period, if applicableborrowed. Upon receipt of such notice notice, the Administrative Agent shall promptly notify each Term Lender thereof. Not later than 11:00 A.M.12:00 Noon, New York City time, on the Closing Date Date, each Term Lender shall make available to the Administrative Agent at the Funding Office an amount in immediately available funds equal to the Initial Term Loan or Initial Term Loans to be made by such Lender. The Administrative Agent shall credit the account designated in writing by of the Borrower to Borrowers on the books of such office of the Administrative Agent with the aggregate of the amounts made available to the Administrative Agent by the Term Lenders in immediately available funds.

Appears in 1 contract

Samples: Credit Agreement (Amedisys Inc)

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Procedure for Initial Term Loan Borrowing. The Borrower shall give the Administrative Agent irrevocable written notice (which notice must be received by the Administrative Agent one Business Day prior to the anticipated Closing Date) requesting that the Term Lenders make the Initial Term Loans on the Closing Date and specifying the amount to be borrowed and the requested Interest Period, if applicable. Upon receipt of such notice the Administrative Agent shall promptly notify each Term Lender thereof. Not later than 11:00 A.M., New York City time, on the Closing Date each Term Lender shall make available to the Administrative Agent at the Funding Office an amount in immediately available funds equal to the Initial Term Loan or Initial Term Loans to be made by such Lender. The Administrative Agent shall credit the account designated in writing by the Borrower to the Administrative Agent with the aggregate of the amounts made available to the Administrative Agent by the Term Lenders in immediately available funds.

Appears in 1 contract

Samples: Intercreditor Agreement (Covetrus, Inc.)

Procedure for Initial Term Loan Borrowing. The Borrower shall give the Administrative Agent irrevocable written notice (which notice must be received by the Administrative Agent one Business Day prior to the anticipated Closing Date) requesting that the Term Lenders make the Initial Term Loans on the Closing Date and specifying the amount to be borrowed and the requested Interest Period, if applicable. Upon receipt of such notice the Administrative Agent shall promptly notify each Term Lender thereof. Not later than 11:00 A.M., New York City time, on the Closing Date each Term Lender shall make available to the Administrative Agent at the Funding Office an amount in immediately available funds equal to the Initial Term Loan or Initial Term Loans to be made by such Lender. The Administrative Agent shall credit the account designated in writing by the Borrower to the Administrative Agent with the aggregate of the amounts made available to the Administrative Agent by the Term Lenders in immediately available funds.. 2.3

Appears in 1 contract

Samples: Credit Agreement (Booz Allen Hamilton Holding Corp)

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