Common use of Procedure for Revolving Advances Borrowing Clause in Contracts

Procedure for Revolving Advances Borrowing. Borrowing Agent on behalf of any Borrower may notify Agent prior to 11:00 a.m. on a Business Day of a Borrower's request to incur, on that day, a Revolving Advance hereunder. Should any amount required to be paid as interest hereunder, or as fees or other charges under this Agreement or any other agreement with Agent or Lenders, or with respect to any other Obligation, become due, same shall be deemed a request for a Revolving Advance as of the date such payment is due, in the amount required to pay in full such interest, fee, charge or Obligation under this Agreement or any other agreement with Agent or Lenders, and such request shall be irrevocable.

Appears in 2 contracts

Samples: Revolving Credit, Term Loan and Security Agreement (Health Chem Corp), Revolving Credit and Security Agreement (Hirsch International Corp)

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Procedure for Revolving Advances Borrowing. Borrowing Agent on behalf of any Except as otherwise provided in Section 2.16 below, Borrower may notify Agent prior to 11:00 a.m. 12:00 noon on a Business Day of a Borrower's request to incur, on that day, a Revolving Advance hereunder. Should any amount required to be paid as principal or interest hereunder, or under any of the other Loan Documents, or as fees or other charges under this Agreement or any other agreement with Agent or Lenders, or with respect to any other Obligation, become due, same shall be deemed a request for a Revolving Advance as of the date such payment is due, in the amount required to pay in full such interest, fee, charge or Obligation under this Agreement or any other agreement with Agent or Lenders, and such request shall be irrevocable.

Appears in 1 contract

Samples: Revolving Credit, Term Loan and Security Agreement (Aaf McQuay Inc)

Procedure for Revolving Advances Borrowing. Borrowing Agent on behalf of any Borrower may notify Agent prior to 11:00 a.m. (New York time) on a Business Day of a Borrower's request to incur, on that day, a Revolving Advance hereunder. Should any amount required to be paid as interest hereunder, or as fees or other charges under this Agreement or any other agreement with Agent or Lenders, or with respect to any other Obligation, become due, same shall be deemed a request for a Revolving Advance as of the date such payment is due, in the amount required to pay in full such interest, fee, charge or Obligation under this Agreement or any other agreement with Agent or Lenders, and such request shall be irrevocable.

Appears in 1 contract

Samples: Revolving Credit, Term Loan and Security Agreement (Terrace Holdings Inc)

Procedure for Revolving Advances Borrowing. Borrowing Agent on behalf of any Borrower may notify Agent prior to 11:00 a.m. on a any Business Day of a Borrower's ’s request to incur, on that day, a Revolving Advance hereunder. Should any amount required to be paid as interest hereunder, or as fees or other charges under this Agreement or any other agreement with Agent or Lenders, or with respect to any other Obligation, become due, same shall be deemed a request for a Revolving Advance as of the date such payment is due, in the amount required to pay in full such interest, fee, charge or Obligation under this Agreement or any other agreement with Agent or Lenders, and such request shall be irrevocable.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Kenexa Corp)

Procedure for Revolving Advances Borrowing. Borrowing Agent on behalf of any (a) Borrower may notify Agent prior to 11:00 a.m. on a Business Day of a Borrower's request to incur, on that day, a Revolving Advance hereunder. Should any amount required to be paid as interest hereunder, or as fees or other charges under this Agreement or any other agreement with Agent or Lenders, or with respect to any other Obligation, become due, same shall be deemed a request for a Revolving Advance as of the date such payment is due, in the amount required to pay in full such interest, fee, charge or Obligation under this Agreement or any other agreement with Agent or Lenders, and such request shall be irrevocable.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Dreamlife Inc)

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Procedure for Revolving Advances Borrowing. Borrowing Agent on behalf of any 2.3.1 Borrower may notify Agent prior to 11:00 a.m. on a Business Day of a Borrower's request to incur, on that day, a Revolving Advance hereunder. Should any amount required to be paid as interest hereunder, or as fees or other charges under this Agreement or any other agreement with Agent or Lenders, or with respect to any other Obligation, become due, same shall be deemed a request for a Revolving Advance as of the date such payment is due, in the amount required to pay in full such interest, fee, charge or Obligation under this Agreement or any other agreement with Agent or Lenders, and such request shall be irrevocable.

Appears in 1 contract

Samples: Revolving Credit, Term Loan and Security Agreement (Obsidian Enterprises Inc)

Procedure for Revolving Advances Borrowing. Borrowing Agent on behalf of any Borrower may notify Agent prior to 11:00 10:00 a.m. on a Business Day of a Borrower's ’s request to incur, on that day, a Revolving Advance hereunder. Should any amount required to be paid as interest hereunder, or as fees or other charges under this Agreement or any other agreement with Agent or Lenders, or with respect to any other Obligation, become due, same shall be deemed a request for a Revolving Advance as of the date such payment is due, in the amount required to pay in full such interest, fee, charge or Obligation under this Agreement or any other agreement with Agent or Lenders, and such request shall be irrevocable.

Appears in 1 contract

Samples: Revolving Credit Loan and Security Agreement (Intelligroup Inc)

Procedure for Revolving Advances Borrowing. Borrowing Agent on behalf of any Borrower Borrowers may notify Agent prior to 11:00 a.m. (New York time) on a Business Day of a Borrower's Borrowers’ request to incur, on that day, a Revolving Advance hereunder. Should any amount required to be paid as interest hereunder, or as fees or other charges under this Agreement or any other agreement with Agent or Lenders, or with respect to any other Obligation, become due, same shall be deemed a request for a Revolving Advance as of the date such payment is due, in the amount required to pay in full such interest, fee, charge or Obligation under this Agreement or any other agreement with Agent or Lenders, and such request shall be irrevocable.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Phosphate Holdings, Inc.)

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