Common use of Procedure for Revolving Borrowings Clause in Contracts

Procedure for Revolving Borrowings. The Borrower shall give the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of each Revolving Borrowing substantially in the form of Exhibit 2.3 (a “Notice of Revolving Borrowing”) (x) prior to 11:00 a.m. (Richmond, Virginia time) on the same Business Day as the requested date of each Base Rate Borrowing or Index Rate Borrowing and (y) prior to 11:00 a.m. (Richmond, Virginia time) three (3) Business Days prior to the requested date of each Eurodollar Borrowing. Each Notice of Revolving 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 Revolving Loan comprising such Borrowing and (iv) 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 Revolving Borrowing shall consist entirely of Base Rate Loans, Index Rate Loans or Eurodollar Loans, as the Borrower may request, provided, that any Revolving Loans funded on the Closing Date shall be Index Rate Loans. The aggregate principal amount of each Eurodollar Revolving Borrowing shall be not less than $1,000,000 or a larger multiple of $1,000,000, and the aggregate principal amount of each Base Rate Revolving Borrowing and Index Rate Revolving Borrowing shall not be less than $1,000,000 or a larger multiple of $500,000; provided, that Index Rate Revolving Loans or Base Rate Revolving Loans, respectively, made pursuant to Section 2.4 or Section 2.23(d) may be made in lesser amounts as provided therein. At no time shall the total number of Eurodollar Borrowings outstanding at any time exceed eight. Promptly following the receipt of a Notice of Revolving Borrowing in accordance herewith, the Administrative Agent shall advise each Revolving Loan Lender of the details thereof and the amount of such Revolving Loan Lender’s Revolving Loan to be made as part of the requested Revolving Borrowing.

Appears in 3 contracts

Samples: Revolving Credit and Term Loan Agreement (Strayer Education Inc), Revolving Credit and Term Loan Agreement (Strayer Education Inc), Pledge Agreement (Strayer Education Inc)

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Procedure for Revolving Borrowings. The Borrower shall give the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of each Revolving Borrowing substantially in the form of Exhibit 2.3 (a “Notice of Revolving Borrowing”) (x) prior to 11:00 a.m. (Richmond, Virginia New York time) on the same Business Day as the requested date of each Base Rate Borrowing or Index Rate Borrowing and (y) prior to 11:00 a.m. (Richmond, Virginia New York time) three (3) Business Days prior to the requested date of each Eurodollar Borrowing. Each Notice of Revolving 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 Revolving Loan comprising such Borrowing and (iv) 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 Revolving Borrowing shall consist entirely of Base Rate Loans, Index Rate Loans or Eurodollar Loans, as the Borrower may request, provided, that any Revolving Loans funded on the Closing Date all Revolving Loans shall be Index Rate Loans. The aggregate principal amount of each Eurodollar Revolving Borrowing shall be not less than $1,000,000 or a larger multiple of $1,000,000500,000, and the aggregate principal amount of each Base Rate Revolving Borrowing and Index Rate Revolving Borrowing shall not be less than $1,000,000 500,000 or a larger multiple of $500,000100,000; provided, that Index Rate Revolving Loans or Base Rate Revolving Loans, respectively, made pursuant to Section 2.4 or Section 2.23(d) may be made in lesser amounts as provided therein. At no time shall the total number of Eurodollar Borrowings outstanding at any time exceed eightsix. Promptly following the receipt of a Notice of Revolving Borrowing in accordance herewith, the Administrative Agent shall advise each Revolving Loan Lender of the details thereof and the amount of such Revolving Loan Lender’s Revolving Loan to be made as part of the requested Revolving Borrowing.

Appears in 2 contracts

Samples: Revolving Credit and Term Loan Agreement (Stanley, Inc.), Revolving Credit and Term Loan Agreement (Stanley, Inc.)

Procedure for Revolving Borrowings. The An Authorized Representative of the Borrower Representative shall give the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of each Revolving Borrowing (other than Swingline Loans), substantially in the form of Exhibit 2.3 attached hereto (a “Notice of Revolving Borrowing”) ), (x) prior to 11:00 a.m. 2:00 p.m. (RichmondAtlanta, Virginia Georgia time) on the same one (1) Business Day as prior to the requested date of each Base Rate Borrowing or Index Rate Borrowing and (y) prior to 11:00 a.m. 2:00 p.m. (RichmondAtlanta, Virginia Georgia time) three (3) Business Days prior to the requested date of each Eurodollar Borrowing. Each Notice of Revolving Borrowing shall be irrevocable (other than as expressly permitted herein) and shall specify: 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 Revolving Loan comprising such Borrowing, (iv) the applicable Borrower, (v) the account of the applicable Borrower to which the proceeds of such Revolving Borrowing shall be credited and (ivvi) 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 Revolving Borrowing shall consist entirely of Base Rate Loans, Index Rate Loans or Eurodollar Loans, as the Borrower Representative may request, provided, that any Revolving Loans funded on the Closing Date shall be Index Rate Loans. The aggregate principal amount of each Eurodollar Revolving Borrowing shall be not less than $1,000,000 or a larger multiple of $1,000,000, and the aggregate principal amount of each Base Rate Revolving Borrowing and Index Rate Revolving Borrowing shall not be less than $1,000,000 or a larger multiple of $500,000; provided, that Index Rate Revolving Loans or and the aggregate principal amount of each Base Rate Revolving Loans, respectively, Borrowing shall not be less than $500,000 or a larger multiple of $100,000; provided that Base Rate Loans made pursuant to Section 2.4 or Section 2.23(d2.22(d) may be made in lesser amounts as provided therein. At no time shall the total number of Eurodollar Borrowings outstanding at any time exceed eightfour (4). Promptly following the receipt of a Notice of Revolving Borrowing in accordance herewith, the Administrative Agent shall advise each Revolving Loan Lender of the details thereof and the amount of such Revolving Loan Lender’s Revolving Loan to be made as part of the requested Revolving Borrowing.

Appears in 2 contracts

Samples: Revolving Credit and Term Loan Agreement (Fox Factory Holding Corp), Credit and Term Loan Agreement (Fox Factory Holding Corp)

Procedure for Revolving Borrowings. The Borrower shall give the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of each Revolving Borrowing substantially in the form of Exhibit 2.3 (a “Notice of Revolving Borrowing”) ): (xa) prior to 11:00 a.m. (Richmond, Virginia time) on the same Business Day as the requested date of each Base Rate Borrowing or and each LIBOR Index Rate Borrowing Borrowing; and (yb) prior to 11:00 a.m. (Richmond, Virginia time) three (3) Business Days prior to the requested date of each Eurodollar Borrowing. Each Notice of Revolving 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 Revolving Loan comprising such Borrowing Borrowing; (iv) whether such Revolving Loan is to be an Acquisition Revolving Loan or a Working Capital Revolving Loan; and (ivv) 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 Revolving Borrowing shall consist entirely of Base Rate Loans, LIBOR Index Rate Loans or Eurodollar LoansLoans or a combination thereof, as the Borrower may request, provided, that any Revolving Loans funded on the Closing Date shall be Index Rate Loans. The aggregate principal amount of each Eurodollar Revolving Borrowing shall not be not less than $1,000,000 2,500,000 or a larger multiple of $1,000,000500,000 in excess thereof, and the aggregate principal amount of each Base Rate Revolving Borrowing and or LIBOR Index Rate Revolving Borrowing shall not be less than $1,000,000 or a larger multiple of $500,000100,000 in excess thereof; provided, that Index Rate Revolving Loans or that, Base Rate Revolving Loans, respectively, Loans made pursuant to Section 2.4 or Section 2.23(d2.22(d) may be made in lesser amounts as provided therein. At no time shall the total number of Interest Periods with respect to Eurodollar Borrowings outstanding at any time exceed eightsix (6). Promptly following the receipt of a Notice of Revolving Borrowing in accordance herewith, the Administrative Agent shall advise each Revolving Loan Lender of the details thereof and the amount of such Revolving Loan Lender’s Revolving Loan to be made as part of the requested Revolving Borrowing.

Appears in 2 contracts

Samples: Credit Agreement (Rotech Healthcare Holdings Inc.), Credit Agreement (Rotech Healthcare Holdings Inc.)

Procedure for Revolving Borrowings. The An Authorized Representative of the Borrower Representative shall give the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of each Revolving Borrowing (other than Swingline Loans), substantially in the form of Exhibit 2.3 attached hereto (a “Notice of Revolving Borrowing”) ), (x) prior to 11:00 a.m. 2:00 p.m. (RichmondAtlanta, Virginia Georgia time) on the same one (1) Business Day as prior to the requested date of each Base Rate Borrowing or Index Rate Borrowing and (y) prior to 11:00 a.m. 2:00 p.m. (RichmondAtlanta, Virginia Georgia time) three (3) Business Days prior to the requested date of each Eurodollar Borrowing. Each Notice of Revolving Borrowing shall be irrevocable (other than as expressly permitted herein) and shall specify: 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 Revolving Loan comprising such Borrowing, (iv) the applicable Borrower, (v) the account of the applicable Borrower to which the proceeds of such Revolving Borrowing shall be credited and (ivvi) 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 Revolving Borrowing shall consist entirely of Base Rate Loans, Index Rate Loans or Eurodollar Loans, as the Borrower Representative may request, provided, that any Revolving Loans funded on the Closing Date shall be Index Rate Loans. The aggregate principal amount of each Eurodollar Revolving Borrowing shall be not less than $1,000,000 or a larger multiple of $1,000,000, and the aggregate principal amount of each Base Rate Revolving Borrowing and Index Rate Revolving Borrowing shall not be less than $1,000,000 or a larger multiple of $500,000; provided, that Index Rate Revolving Loans or and the aggregate principal amount of each Base Rate Revolving Loans, respectively, Borrowing shall not be less than $500,000 or a larger multiple of $100,000; provided that Base Rate Loans made pursuant to Section 2.4 or Section 2.23(d2.21(d) may be made in lesser amounts as provided therein. At no time shall the total number of Eurodollar Borrowings outstanding at any time exceed eightfour (4). Promptly following the receipt of a Notice of Revolving Borrowing in accordance herewith, the Administrative Agent shall advise each Revolving Loan Lender of the details thereof and the amount of such Revolving Loan Lender’s Revolving Loan to be made as part of the requested Revolving Borrowing.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Fox Factory Holding Corp), Revolving Credit Agreement (Fox Factory Holding Corp)

Procedure for Revolving Borrowings. The Borrower Parent shall give the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of each Revolving Borrowing substantially in the form of Exhibit 2.3 (a “Notice of Revolving Borrowing”) (x) prior to 11:00 a.m. (RichmondAtlanta, Virginia Georgia time) on the same one (1) Business Day as prior to the requested date of each Base Rate Borrowing or Index Rate Borrowing and (y) prior to 11:00 a.m. (RichmondAtlanta, Virginia Georgia time) three (3) Business Days prior to the requested date of each Eurodollar Borrowing. Each Notice of Revolving Borrowing shall be irrevocable and shall specify: (i) the applicable Borrower (which shall be deemed to be the Parent if no specification is made), (ii) the aggregate principal amount of such Borrowing, (iiiii) the date of such Borrowing (which shall be a Business Day), (iiiiv) the Type of such Revolving Loan comprising such Borrowing Borrowing, and (ivv) 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 Revolving Borrowing shall consist entirely of Base Rate Loans, Index Rate Loans or Eurodollar Loans, as the Borrower Parent may request, provided, that any Revolving Loans funded on the Closing Date shall be Index Rate Loans. The aggregate principal amount of each Eurodollar Revolving Borrowing shall be not less than $1,000,000 5,000,000 or a larger multiple of $1,000,000, and the aggregate principal amount of each Base Rate Revolving Borrowing and Index Rate Revolving Borrowing shall not be less than $1,000,000 or a larger multiple of $500,000100,000; provided, that Index Rate Revolving Loans or Base Rate Revolving Loans, respectively, Loans made pursuant to Section 2.4 or Section 2.23(d2.21(c) may be made in lesser amounts as provided therein. At no time shall the total number of Eurodollar Borrowings outstanding at any time exceed eightsix. Promptly following the receipt of a Notice of Revolving Borrowing in accordance herewith, the Administrative Agent shall advise each Revolving Loan Lender of the details thereof and the amount of such Revolving Loan Lender’s Revolving Loan to be made as part of the requested Revolving Borrowing.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Checkfree Corp \Ga\), Revolving Credit Agreement (Checkfree Corp \Ga\)

Procedure for Revolving Borrowings. The Borrower shall give the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of each Revolving Borrowing substantially in the form of Exhibit 2.3 (a "Notice of Revolving Borrowing") (x) prior to 11:00 a.m. (Richmond, Virginia time) on the same Business Day as of the requested date of each Base Rate Borrowing or a LIBOR Index Rate Borrowing and (y) prior to 11:00 a.m. (Richmond, Virginia time) three (3) Business Days prior to the requested date of each Eurodollar Adjusted LIBO Rate Borrowing. Each Notice of Revolving Borrowing shall be irrevocable and shall specify: (ia) the aggregate principal amount of such Borrowing, ; (iib) the date of such Borrowing (which shall be a Business Day), ; (iiic) the Type of such Revolving Loan comprising such Borrowing Borrowing; and (ivd) in the case of a Eurodollar an Adjusted LIBO Rate Borrowing, the duration of the initial Interest Period applicable thereto (subject to the provisions of the definition of Interest Period). Each Revolving Borrowing shall consist entirely of Base Rate Loans, LIBOR Index Rate Loans or Eurodollar Adjusted LIBO Rate Loans, as the Borrower may request, provided, that any Revolving Loans funded on the Closing Date shall be Index Rate Loans. The aggregate principal amount of each Eurodollar Revolving Adjusted LIBO Rate Borrowing shall be not less than $1,000,000 or a larger multiple of $1,000,000500,000, and the aggregate principal amount of each Base Rate Revolving Borrowing and or each LIBOR Index Rate Revolving Borrowing shall not be less than $1,000,000 or a larger multiple of $500,000; provided, that Index Rate Revolving Loans or Base Rate Revolving Loans, respectively, Loans made pursuant to Section ‎Section 2.4 or Section 2.23(d‎Section 2.22(d) may be made in lesser amounts as provided therein. At no time shall the total number of Eurodollar Adjusted LIBO Rate Borrowings outstanding at any time exceed eighteight (8). Promptly following the receipt of a Notice of Revolving Borrowing in accordance herewith, the Administrative Agent shall advise each Revolving Loan Lender of the details thereof and the amount of such Revolving Loan Lender’s 's Revolving Loan to be made as part of the requested Revolving Borrowing.

Appears in 2 contracts

Samples: Credit Agreement (STEINER LEISURE LTD), Credit Agreement (Steiner Leisure LTD)

Procedure for Revolving Borrowings. The Borrower shall give the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of each Revolving Borrowing substantially in the form of Exhibit 2.3 (a “Notice of Revolving Borrowing”) (xa) prior to 11:00 a.m. (Richmond, Virginia time) on the same Business Day as the requested date of each Base Rate Borrowing or Index Rate Borrowing and (yb) prior to 11:00 a.m. 1:00 p.m. (Richmond, Virginia timei) three (3) Business Days prior to the requested date of each any Borrowing of Eurodollar BorrowingLoans denominated in Dollars and (ii) four (4) Business Days prior to the requested date of any Borrowing of Eurodollar Loans denominated in the Alternative Currency. Each Notice of Revolving 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 Revolving Loan comprising such Borrowing and Borrowing, (iv) 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), (v) the currency of the Loans to be borrowed and (vi) whether such Borrowing is to be made under the Dollar Commitments or the Multicurrency Commitments. If the Borrower fails to specify a currency in the Notice of Revolving Borrowing, then the Loans so requested shall be made in Dollars. If the Borrower fails to specify a Class in the Notice of Revolving Borrowing, then the Loans so requested shall be deemed to be under the Multicurrency Commitments. Each Revolving Borrowing shall consist entirely of Base Rate Loans, Index Rate Loans or Eurodollar LoansLoans or a combination thereof, as the Borrower may request, provided, that any Revolving Loans funded on the Closing Date shall be Index Rate Loans. The aggregate principal amount of each Eurodollar Revolving Borrowing shall be not less than $1,000,000 or a larger multiple of $1,000,000100,000, and the aggregate principal amount of each Base Rate Revolving Borrowing and Index Rate Revolving Borrowing shall not be less than $1,000,000 500,000 or a larger multiple of $500,000100,000; provided, that Index Rate Revolving Loans or Base Rate Revolving Loans, respectively, Loans made pursuant to Section 2.4 or Section 2.23(d2.22(d) may be made in lesser amounts as provided therein. At no time shall the total number of Eurodollar Borrowings outstanding at any time exceed eightsix (6). Promptly following the receipt of a Notice of Revolving Borrowing in accordance herewith, the Administrative Agent shall advise each Revolving Loan Lender of the details thereof and the amount (and currency) of such Revolving Loan Lender’s Revolving Loan to be made as part of the requested Revolving Borrowing.

Appears in 2 contracts

Samples: Credit Agreement (EVO Payments, Inc.), Credit Agreement (EVO Payments, Inc.)

Procedure for Revolving Borrowings. The Borrower shall give the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of each Revolving Borrowing substantially in the form of Exhibit 2.3 (a “Notice of Revolving Borrowing”) (x) prior to 11:00 a.m. (Richmond, Virginia time) on the same Business Day as the requested date of each Base Rate Borrowing or Index Rate Borrowing and Borrowing, (y) prior to 11:00 a.m. (Richmond, Virginia time) three (3) Business Days prior to the requested date of each Eurodollar BorrowingEurocurrency Borrowing denominated in Dollars and (z) prior to 11:00 a.m. (New York time) three (3) Business Days (or four (4) Business Days in the case of Australian Dollars or five (5) Business Days in the case of a Special Notice Currency) prior to the requested date of each Eurocurrency Borrowing denominated in Alternative Currencies. Each Notice of Revolving Borrowing shall be irrevocable (unless contingent on the consummation of an anticipated transaction and the Borrower shall, as promptly as practicable, notify the Administrative Agent that such transaction will not occur as scheduled) 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 Revolving Loan comprising such Borrowing and Borrowing, (iv) in the case of a Eurodollar Eurocurrency Borrowing, the duration of the initial Interest Period applicable thereto (subject to the provisions of the definition of “Interest Period”)) and (v) if a Eurocurrency Borrowing, the currency of the Revolving Loans to be borrowed. If the Borrower fails to specify a currency in a Notice of Revolving Borrowing with respect to a Eurocurrency Borrowing, then the Revolving Loans so requested shall be made in Dollars. Each Revolving Borrowing shall consist entirely of Base Rate Loans, Index Rate Loans or Eurodollar Eurocurrency Loans, as the Borrower may request, provided, that any Revolving Loans funded on the Closing Date shall be Index Rate Loans. The aggregate principal amount of each Eurodollar Eurocurrency Revolving Borrowing shall be not 37 less than $1,000,000 or a larger multiple of $1,000,000, and the aggregate principal amount of each Base Rate Revolving Borrowing and Index Rate Revolving Borrowing shall not be less than $1,000,000 or a larger multiple of $500,000; provided, that Index Rate Revolving Loans or Base Rate Revolving Loans, respectively, made pursuant to Section 2.4 or Section 2.23(d) may be made in lesser amounts as provided therein. At no time shall the total number of Eurodollar Eurocurrency Borrowings outstanding at any time exceed eight. Promptly following the receipt of a Notice of Revolving Borrowing in accordance herewith, the Administrative Agent shall advise each Revolving Loan Lender of the details thereof and the amount of such Revolving Loan Lender’s Revolving Loan to be made as part of the requested Revolving Borrowing.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Strategic Education, Inc.)

Procedure for Revolving Borrowings. The Borrower shall give the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of each Revolving Borrowing substantially in the form of Exhibit 2.3 (a “Notice of Revolving Borrowing”) (xa) prior to 11:00 a.m. (Richmond, Virginia time) on the same Business Day as the requested date of each Base Rate Borrowing or Index Rate Borrowing and (yb) prior to 11:00 a.m. 1:00 p.m. (Richmond, Virginia timei) three (3) Business Days prior to the requested date of each any Borrowing of Eurodollar BorrowingLoans denominated in Dollars and (ii) four (4) Business Days prior to the requested date of any Borrowing of Eurodollar Loans denominated in the Alternative Currency. Each Notice of Revolving 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 Revolving Loan comprising such Borrowing and Borrowing, (iv) in the case of a Eurodollar Borrowing, the duration of the initial Interest interest Period applicable thereto (subject to the provisions of the definition of Interest Period), (v) the currency of the Loans to be borrowed and (vi) whether such Borrowing is to be made under the Dollar Commitments or the Multicurrency Commitments. If the Borrower fails to specify a currency in the Notice of Revolving Borrowing, then the Loans so requested shall be made in Dollars. If the Borrower fails to specify a Class in the Notice of Revolving Borrowing, then the Loans so requested shall be deemed to be under the Multicurrency Commitments. Each Revolving Borrowing shall consist entirely of Base Rate Loans, Index Rate Loans or Eurodollar LoansLoans or a combination thereof, as the Borrower may request, provided, that any Revolving Loans funded on the Closing Date shall be Index Rate Loans. The aggregate principal amount of each Eurodollar Revolving Borrowing shall be not less than $1,000,000 or a larger multiple of $1,000,000100,000, and the aggregate principal amount of each Base Rate Revolving Borrowing and Index Rate Revolving Borrowing shall not be less than $1,000,000 500,000 or a larger multiple of $500,000100,000; provided, that Index Rate Revolving Loans or Base Rate Revolving Loans, respectively, Loans made pursuant to Section 2.4 or Section 2.23(d2.22(d) may be made in lesser amounts as provided therein. At no time shall the total number of Eurodollar Borrowings outstanding at any time exceed eight. six (6) Promptly following the receipt of a Notice of Revolving Borrowing in accordance herewith, the Administrative Agent shall advise each Revolving Loan Lender of the details thereof and the amount (and currency) of such Revolving Loan Lender’s Revolving Loan to be made as part of the requested Revolving Borrowing.

Appears in 1 contract

Samples: Credit Agreement (EVO Payments, Inc.)

Procedure for Revolving Borrowings. The Borrower shall give the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of each Revolving Borrowing substantially in the form of Exhibit 2.3 (a “Notice of Revolving Borrowing”) (x) prior to 11:00 a.m. (Richmond, Virginia time) on the same Business Day as the requested date of each Base Rate Borrowing or Index Rate Borrowing and (y) prior to 11:00 a.m. (Richmond, Virginia time) three (3) Business Days prior to the requested date of each Eurodollar Borrowing. Each Notice of Revolving 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 Revolving Loan comprising such Borrowing and (iv) 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 Revolving Borrowing shall consist entirely of Base Rate Loans, Index Rate Loans or Eurodollar Loans, as the Borrower may request, provided, that any Revolving Loans funded on the Closing Date shall be Index Rate Loans. The aggregate principal amount of each Eurodollar Revolving Borrowing shall be not less than $1,000,000 or a larger multiple of $1,000,000, and the aggregate principal amount of each Base Rate Revolving Borrowing and Index Rate Revolving Borrowing shall not be less than $1,000,000 or a larger multiple of $500,000; provided, that Index Rate Revolving Loans or Base Rate Revolving Loans, respectively, made pursuant to Section 2.4 or Section 2.23(d) may be made in lesser amounts as provided therein. At no time shall the total number of Eurodollar Borrowings outstanding at any time exceed eightsix. Promptly following the receipt of a Notice of Revolving Borrowing in accordance herewith, the Administrative Agent shall advise each Revolving Loan Lender of the details thereof and the amount of such Revolving Loan Lender’s Revolving Loan to be made as part of the requested Revolving Borrowing.

Appears in 1 contract

Samples: Revolving Credit Agreement (Strayer Education Inc)

Procedure for Revolving Borrowings. The Borrower shall give the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of each Revolving Borrowing substantially in the form of Exhibit 2.3 (a “Notice of Revolving Borrowing”) (x) prior to 11:00 a.m. (Richmond, Virginia time) on the same Business Day as the requested date of each Base Rate Borrowing or Index Rate Borrowing and (y) prior to 11:00 a.m. (Richmond, Virginia time) three (3) Business Days prior to the requested date of each Eurodollar Borrowing. Each Notice of Revolving Borrowing shall be irrevocable (unless contingent on the consummation of an anticipated transaction and the Borrower shall, as promptly as practicable, notify the Administrative Agent that such transaction will not occur as scheduled) 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 Revolving Loan comprising such Borrowing and (iv) 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 Revolving Borrowing shall consist entirely of Base Rate Loans, Index Rate Loans or Eurodollar Loans, as the Borrower may request, provided, that any Revolving Loans funded on the Closing Date shall be Index Rate Loans. The aggregate principal amount of each Eurodollar Revolving Borrowing shall be not less than $1,000,000 or a larger multiple of $1,000,000, and the aggregate principal amount of each Base Rate Revolving Borrowing and Index Rate Revolving Borrowing shall not be less than $1,000,000 or a larger multiple of $500,000; provided, that Index Rate Revolving Loans or Base Rate Revolving Loans, respectively, made pursuant to Section 2.4 or Section 2.23(d) may be made in lesser amounts as provided therein. At no time shall the total number of Eurodollar Borrowings outstanding at any time exceed eight. Promptly following the receipt of a Notice of Revolving Borrowing in accordance herewith, the Administrative Agent shall advise each Revolving Loan Lender of the details thereof and the amount of such Revolving Loan Lender’s Revolving Loan to be made as part of the requested Revolving Borrowing.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Strategic Education, Inc.)

Procedure for Revolving Borrowings. The Borrower Borrowers shall give the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of each Revolving Borrowing substantially in the form of Exhibit 2.3 attached hereto (a “Notice of Revolving Borrowing”) (x) prior to 11:00 a.m. (Richmond, Virginia timex) on the same one (1) Business Day as prior to the requested date of each Base Rate Borrowing or Index Rate Borrowing and Borrowing, (y) prior to 11:00 a.m. (Richmond, Virginia time) three (3) Business Days prior to the requested date of each Eurodollar BorrowingLIBO Rate Borrowing and (z) four (4) Business Days prior to the requested date of each Borrowing denominated in a Foreign Currency. Each Notice of Revolving 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 Revolving Loan comprising such Borrowing Borrowing, which on the Closing Date shall be Base Rate Loans and (iv) in the case of a Eurodollar LIBO Rate Borrowing, the requested Foreign Currency (if such Borrowing is not denominated in Dollars) and the duration of the initial Interest Period applicable thereto (subject to the provisions of the definition of Interest Period). Each Revolving Borrowing shall consist entirely of Base Rate Loans, Index Rate Loans or Eurodollar LIBO Rate Loans, as the Borrower Borrowers may request, provided, that any Revolving Loans funded on the Closing Date shall be Index Rate Loans. The aggregate principal amount of each Eurodollar Revolving LIBO Rate Borrowing shall be not less than $1,000,000 (or, if applicable, the Dollar Equivalent thereof in the Foreign Currency in which such LIBO Rate Borrowing is denominated) or a larger multiple of $1,000,000100,000, (or, if 29 applicable, the Dollar Equivalent thereof in the Foreign Currency in which such LIBO Rate Borrowing is denominated) and the aggregate principal amount of each Base Rate Revolving Borrowing and Index Rate Revolving Borrowing shall not be less than $1,000,000 or a larger multiple of $500,000100,000; provided, that Index Rate Revolving Loans or Base Rate Revolving Loans, respectively, Loans made pursuant to Section 2.4 2.5 or Section 2.23(d2.25(e) may be made in lesser amounts as provided therein. At no time shall the total number of Eurodollar LIBO Rate Borrowings of Term Loans and Revolving Loans outstanding at any time (including, without limitation, any Borrowings outstanding at such time denominated in a Foreign Currency) exceed eightfourteen (14). Promptly following the receipt of a Notice of Revolving Borrowing in accordance herewith, the Administrative Agent shall advise each Revolving Loan Credit Lender of the details thereof and the amount of such Revolving Loan Credit Lender’s Revolving Loan to be made as part of the requested Revolving Borrowing.

Appears in 1 contract

Samples: Credit Agreement (Crawford & Co)

Procedure for Revolving Borrowings. The Borrower shall give the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of each Revolving Borrowing substantially in the form of Exhibit 2.3 (a “Notice of Revolving Borrowing”) (x) prior to 11:00 a.m. (Richmond, Virginia New York time) on the same one (1) Business Day as prior to the requested date of each Base Rate Borrowing or Index Rate Borrowing and (y) prior to 11:00 a.m. (Richmond, Virginia New York time) three (3) Business Days prior to the requested date of each Eurodollar Borrowing. Each Notice of Revolving 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 Revolving Loan comprising such Borrowing and (iv) 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 Revolving Borrowing shall consist entirely of Base Rate Loans, Index Rate Loans or Eurodollar Loans, as the Borrower may request, provided, that any Revolving Loans funded on the Closing Date all Revolving Loans shall be Index Rate Loans. The aggregate principal amount of each Eurodollar Revolving Borrowing shall be not less than $1,000,000 or a larger multiple of $1,000,000500,000, and the aggregate principal amount of each Base Rate Revolving Borrowing and Index Rate Revolving Borrowing shall not be less than $1,000,000 500,000 or a larger multiple of $500,000100,000; provided, that Index Rate Revolving Loans or Base Rate Revolving Loans, respectively, Loans made pursuant to Section 2.4 or Section 2.23(d) may be made in lesser amounts as provided therein. At no time shall the total number of Eurodollar Borrowings outstanding at any time exceed eightsix. Promptly following the receipt of a Notice of Revolving Borrowing in accordance herewith, the Administrative Agent shall advise each Revolving Loan Lender of the details thereof and the amount of such Revolving Loan Lender’s Revolving Loan to be made as part of the requested Revolving Borrowing.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Stanley, Inc.)

Procedure for Revolving Borrowings. The Borrower shall give deliver a Notice of Borrowing to the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of each Revolving Borrowing substantially in the form of Exhibit 2.3 (a “Notice of Revolving Borrowing”) Agent, (x) prior to 11:00 a.m. one (Richmond, Virginia time1) on the same Business Day as prior to the requested date of each Base Rate Borrowing or Index Rate Borrowing and (y) prior to 11:00 a.m. (Richmond, Virginia time) three (3) Business Days prior to the requested date of each Eurodollar SOFR Borrowing. Each Notice of Revolving Borrowing shall be irrevocable and shall specify: DB1/ 110470318.9 57 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 Revolving Loan comprising such Borrowing and (iv) in the case of a Eurodollar SOFR Borrowing, the duration of the initial Interest Period applicable thereto (subject to the provisions of the definition of Interest Period). Each Revolving Borrowing shall consist entirely of Base Rate Loans, Index Rate Loans or Eurodollar SOFR Loans, as the Borrower may request, provided, that any Revolving Loans funded on the Closing Date shall be Index Rate Loans. The aggregate principal amount of each Eurodollar Revolving Borrowing shall be not less than $1,000,000 or a larger multiple of $1,000,000, and the aggregate principal amount of each Base Rate Revolving Borrowing and Index Rate Revolving SOFR Borrowing shall not be less than $1,000,000 or a larger multiple of $500,000; provided250,000, that Index Rate Revolving Loans or and the aggregate principal amount of each Base Rate Revolving Loans, respectively, Borrowing shall not be less than $500,000 or a larger multiple of $100,000; provided that Base Rate Loans made pursuant to Section 2.4 or Section 2.23(d2.22(d) may be made in lesser amounts as provided therein. At no time shall the total number of Eurodollar SOFR Borrowings (including Revolving Borrowings and Term Loan Borrowings) outstanding at any time exceed eightten (10). Promptly following the receipt of a Notice of Revolving Borrowing in accordance herewith, the Administrative Agent shall advise each Revolving Loan Lender of the details thereof and the amount of such Revolving Loan LenderXxxxxx’s Revolving Loan to be made as part of the requested Revolving Borrowing. If the Borrower fails to specify a Type of Loan in a Notice of Borrowing, then the applicable Revolving Loans shall be made as Base Rate Loans. If the Borrower requests a Borrowing of SOFR Loans in any such Notice of Borrowing but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one month. Section 2.4.

Appears in 1 contract

Samples: Revolving Credit and Term (Amneal Pharmaceuticals, Inc.)

Procedure for Revolving Borrowings. The Borrower shall give ----------------------------------- the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of each Revolving Borrowing substantially in the form of Exhibit 2.3 ----------- attached hereto (a "Notice of Revolving Borrowing") (x) prior to 11:00 a.m. 12:00 noon (RichmondAtlanta, Virginia Georgia time) on the same Business Day as the requested date of each Base Rate Borrowing or Index Rate Borrowing and (y) prior to 11:00 a.m. 12:00 noon (RichmondAtlanta, Virginia Georgia time) at least three (3) Business Days prior to the requested date of each Eurodollar Borrowing. Each Notice of Revolving 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 Revolving Loan comprising such Borrowing and (iv) 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 Revolving Borrowing shall consist entirely of Base Rate Loans, Index Rate Loans or Eurodollar Loans, as the Borrower may request, provided, that any Revolving Loans funded on the Closing Date shall be Index Rate Loans. The aggregate principal amount of each such Eurodollar Revolving Borrowing shall be not less than $1,000,000 10,000,000 or a larger multiple of $1,000,000500,000, and the aggregate principal amount of each such Base Rate Revolving Borrowing and Index Rate Revolving Borrowing shall not be less than $1,000,000 or a larger multiple of $500,000100,000; provided, that Index Rate Revolving Loans or Base Rate Revolving Loans, respectively, Loans made pursuant to -------- Section 2.4 or 2.5(b) and Section 2.23(d) may be made in lesser amounts as provided -------------- --------------- therein. At no time shall the total number of Eurodollar Borrowings outstanding at any time exceed eighttwelve. Promptly following the receipt of a Notice of Revolving Borrowing in accordance herewith, the Administrative Agent shall advise each Revolving Loan Lender of the details thereof and the amount of such Revolving Loan Lender’s 's Revolving Loan to be made as part of the requested Revolving Borrowing.

Appears in 1 contract

Samples: Loans And (Dollar General Corp)

Procedure for Revolving Borrowings. The Borrower shall give the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of each Revolving Borrowing substantially in the form of Exhibit 2.3 (a “Notice of Revolving Borrowing”) (x) prior to 11:00 a.m. 12:00 noon (RichmondNew York, Virginia New York time) on the same Business Day as the requested date day of each Base Rate Borrowing or Index Rate Borrowing and Borrowing, (y) prior to 11:00 a.m. 12:00 noon (RichmondNew York, Virginia New York time) three (3) Business Days prior to the requested date of each Eurodollar BorrowingEurocurrency Rate Borrowing in the case of a Eurocurrency Rate Borrowing denominated in Dollars, and (z) 5:00 P.M. (London time) three (3) Business Days prior to the requested date of each Eurocurrency Rate Borrowing in the case of a Eurocurrency Rate Borrowing denominated in any Alternate Currency. Each Notice of Revolving 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 Revolving Loan comprising such Borrowing and Borrowing, (iv) in the case of a Eurodollar Eurocurrency Rate Borrowing, the duration of the initial Interest Period applicable thereto (subject to the provisions of the definition of Interest Period), (v) the Currency of the requested Borrowing. Each Revolving Borrowing shall consist entirely of Base Rate Loans, Index Rate Loans or Eurodollar Eurocurrency Rate Loans, as the Borrower may request, and (vi) the account of the Borrower to which the proceeds of such Revolving Borrowing should be credited; provided, that any Revolving Loans funded on the Closing Date shall in any Alternate Currency may only be Index outstanding as Eurocurrency Rate Loans. The aggregate principal amount of each Eurodollar Revolving Eurocurrency Rate Borrowing shall be not less than $1,000,000 or a larger multiple of $1,000,000, and the aggregate principal amount of each Base Rate Revolving Borrowing and Index Rate Revolving Borrowing shall not be less than $1,000,000 or a larger multiple of $500,000100,000 (or in the case of Borrowings made in any Alternate Currency, minimum and multiple amounts of such Alternate Currency with comparable Dollar Equivalents of the preceding amounts, rounded upwards to the nearest 100,000 unit multiple in such Alternate Currency); provided, that Index Rate Revolving Loans or Base Rate Revolving Loans, respectively, Loans made pursuant to Section 2.4 2.4, Section 2.14 or Section 2.23(d) may be made in lesser amounts as provided therein. At no time shall the total number of Eurodollar Eurocurrency Rate Borrowings outstanding at any time exceed eight. Promptly following the receipt of a Notice of Revolving Borrowing in accordance herewith, the Administrative Agent shall advise each Revolving Loan Lender of the details thereof and the amount of such Revolving Loan Lender’s Revolving Loan to be made as part of the requested Revolving Borrowing.

Appears in 1 contract

Samples: Revolving Credit Agreement (Bristow Group Inc)

Procedure for Revolving Borrowings. The Borrower shall give deliver a Notice of Borrowing to the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of each Revolving Borrowing substantially in the form of Exhibit 2.3 (a “Notice of Revolving Borrowing”) Agent, (x) prior to 11:00 a.m. one (Richmond, Virginia time1) on the same Business Day as prior to the requested date of each Base Rate Borrowing or Index Rate Borrowing and (y) prior to 11:00 a.m. (Richmond, Virginia time) three (3) Business Days prior to the requested date of each Eurodollar EurodollarSOFR Borrowing. Each Notice of Revolving Borrowing shall be irrevocable and shall specify: 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 Revolving Loan comprising such Borrowing and (iv) in the case of a Eurodollar EurodollarSOFR Borrowing, the duration of the initial Interest Period applicable thereto (subject to the provisions of the definition of Interest Period). Each Revolving Borrowing shall consist entirely of Base Rate Loans, Index Rate Loans or Eurodollar EurodollarSOFR Loans, as the Borrower may request, provided, that any Revolving Loans funded on the Closing Date shall be Index Rate Loans. The aggregate principal amount of each Eurodollar Revolving Borrowing shall be not less than $1,000,000 or a larger multiple of $1,000,000, and the aggregate principal amount of each Base Rate Revolving Borrowing and Index Rate Revolving EurodollarSOFR Borrowing shall not be less than $1,000,000 or a larger multiple of $500,000; provided250,000, that Index Rate Revolving Loans or and the aggregate principal amount of each Base Rate Revolving Loans, respectively, Borrowing shall not be less than $500,000 or a larger multiple of $100,000; provided that Base Rate Loans made pursuant to Section 2.4 or Section 2.23(d2.22(d) may be made in lesser amounts as provided therein. At no time shall the total number of Eurodollar EurodollarSOFR Borrowings (including Revolving Borrowings and Term Loan Borrowings) outstanding at any time exceed eightten (10). Promptly following the receipt of a Notice of Revolving Borrowing in accordance herewith, the Administrative Agent shall advise each Revolving Loan Lender of the details thereof and the amount of such Revolving Loan LenderXxxxxx’s Revolving Loan to be made as part of the requested Revolving Borrowing. If the Borrower fails to specify a Type of Loan in a Notice of Borrowing, then the applicable Revolving Loans shall be made as Base Rate Loans. If the Borrower requests a Borrowing of EurodollarSOFR Loans in any such Notice of Borrowing but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one month. DB1/ 110470318.9 58 Section 2.4.

Appears in 1 contract

Samples: Credit and Term Loan Agreement (Amneal Pharmaceuticals, Inc.)

Procedure for Revolving Borrowings. The Borrower shall give the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of each Revolving Borrowing Borrowing, substantially in the form of Exhibit 2.3 attached hereto (a “Notice of Revolving Borrowing”) ), (x) prior to 11:00 a.m. 1:00 p.m. one (Richmond, Virginia time1) on the same Business Day as prior to the requested date of each Base Rate Borrowing or Index Rate Borrowing and (y) prior to 11:00 a.m. (Richmond, Virginia time) 1:00 p.m. three (3) Business Days prior to the requested date of each Eurodollar EurodollarSOFR Borrowing; provided that in the case of any Base Rate Borrowings on the Closing Date, such Notice of Borrowing may be provided on the Closing Date. Each Notice of Revolving Borrowing shall be irrevocable and shall specify: specify (i) the aggregate principal amount of such Borrowing, (ii) the date of such Borrowing (which shall be a Business Day), (iii) the Class and Type of such Revolving Loan comprising such Borrowing and (iv) in the case of a Eurodollar EurodollarSOFR Borrowing, the duration of the initial Interest Period applicable thereto (subject to the provisions of the definition of Interest Period). Each Revolving Borrowing shall consist entirely of Base Rate Loans, Index Rate Loans or Eurodollar EurodollarSOFR Loans, as the Borrower may request, provided, that any Revolving Loans funded on the Closing Date shall be Index Rate Loans. The aggregate principal amount of each Eurodollar Revolving EurodollarSOFR Borrowing shall not be not less than $1,000,000 5,000,000 or a larger multiple of $1,000,000250,000, and the aggregate principal amount of each Base Rate Revolving Borrowing and Index Rate Revolving Borrowing shall not be less than $1,000,000 or a larger multiple of $500,000100,000; provided, provided that Index Rate Revolving Loans or Base Rate Revolving Loans, respectively, Loans made pursuant to Section 2.4 or Section 2.23(d2.22(d) may be made in lesser amounts as provided therein. At no time shall the total number of Eurodollar EurodollarSOFR Borrowings outstanding at any time exceed eighteight (8). Promptly following the receipt of a Notice of Revolving Borrowing in accordance herewith, the Administrative Agent shall advise each Revolving Loan applicable Lender of the details thereof and the amount of such Revolving Loan Lender’s Revolving Loan to be made as part of the requested Revolving Borrowing. Section 2.4.

Appears in 1 contract

Samples: Credit Agreement (Ensign Group, Inc)

Procedure for Revolving Borrowings. The Borrower shall give the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of each Revolving Borrowing substantially in the form of Exhibit 2.3 attached hereto (a “Notice of Revolving Borrowing”) (x) prior to 11:00 a.m. (RichmondAtlanta, Virginia Georgia time) on the same one (1) Business Day as prior to the requested date of each Base Rate Borrowing or Index Rate Borrowing and (y) prior to 11:00 a.m. (RichmondAtlanta, Virginia Georgia time) three (3) Business Days prior to the requested date of each Eurodollar Borrowing. Each Notice of Revolving 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 Revolving Loan comprising such Borrowing and (iv) 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 Revolving Borrowing shall consist entirely of Base Rate Loans, Index Rate Loans or Eurodollar Loans, as the Borrower may request, provided, that any Revolving Loans funded on the Closing Date shall be Index Rate Loans. The aggregate principal amount of each Eurodollar Revolving Borrowing shall be not less than $1,000,000 5,000,000 or a larger multiple of $1,000,000, and the aggregate principal amount of each Base Rate Revolving Borrowing and Index Rate Revolving Borrowing shall not be less than $1,000,000 or a larger multiple of $500,000100,000; provided, that Index Rate Revolving Loans or Base Rate Revolving Loans, respectively, Loans made pursuant to Section 2.4 2.5 or Section 2.23(d2.23(c) may be made in lesser amounts as provided therein. At no time shall the total number of Eurodollar Borrowings and Competitive Bid Loans outstanding at any time exceed eightten. Promptly following the receipt of a Notice of Revolving Borrowing in accordance herewith, the Administrative Agent shall advise each Revolving Loan Lender of the details thereof and the amount of such Revolving Loan Lender’s Revolving Loan to be made as part of the requested Revolving Borrowing.

Appears in 1 contract

Samples: Revolving Credit Agreement (Hughes Supply Inc)

Procedure for Revolving Borrowings. The Borrower shall give the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of each Revolving Borrowing substantially in the form of Exhibit 2.3 (a “Notice of Revolving Borrowing”) (x) prior to 11:00 a.m. (Richmond, Virginia time) on the same Business Day as the requested date of each Base Rate Borrowing or Index Rate Borrowing and (y) prior to 11:00 a.m. (Richmond, Virginia time) three (3) Business Days prior to the requested date of each Eurodollar Borrowing. Each Notice of Revolving 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 Revolving Loan comprising such Borrowing and (iv) 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 Revolving Borrowing shall consist entirely of Base Rate Loans, Index Rate Loans or Eurodollar Loans, as the Borrower may request, provided, that any Revolving Loans funded on the Closing Date all Revolving Loans shall be Index Rate Loans. The aggregate principal amount of each Eurodollar Revolving Borrowing shall be not less than $1,000,000 500,000 or a larger multiple of $1,000,000100,000, and the aggregate principal amount of each Base Rate Revolving Borrowing and Index Rate Revolving Borrowing shall not be less than $1,000,000 100,000 or a larger multiple of $500,00050,000; provided, that Index Rate Revolving Loans or Base Rate Revolving Loans, respectively, made pursuant to Section 2.4 or Section 2.23(d) may be made in lesser amounts as provided therein. At no time shall the total number of Eurodollar Borrowings outstanding at any time exceed eightfive. Promptly following the receipt of a Notice of Revolving Borrowing in accordance herewith, the Administrative Agent shall advise each Revolving Loan Lender of the details thereof and the amount of such Revolving Loan Lender’s Revolving Loan to be made as part of the requested Revolving Borrowing.

Appears in 1 contract

Samples: Revolving Credit Agreement (JTH Holding, Inc.)

Procedure for Revolving Borrowings. The Borrower shall give the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of each Revolving Borrowing substantially in the form of Exhibit 2.3 (a “Notice of Revolving Borrowing”) (x) prior to 11:00 a.m. 12:00 noon (RichmondNew York, Virginia New York time) on the same Business Day as the requested date day of each Base Rate Borrowing or Index Rate Borrowing and Borrowing, (y) prior to 11:00 a.m. 12:00 noon (RichmondNew York, Virginia New York time) three (3) Business Days prior to the requested date of each Eurodollar BorrowingEurocurrency Rate Borrowing in the case of a Eurocurrency Rate Borrowing denominated in Dollars, and (z) 5:00 P.M. (London time) three (3) Business Days prior to the requested date of each Eurocurrency Rate Borrowing in the case of a Eurocurrency Rate Borrowing denominated in any Alternate Currency. Each Notice of Revolving 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 Revolving Loan comprising such Borrowing and Borrowing, (iv) in the case of a Eurodollar Eurocurrency Rate Borrowing, the duration of the initial Interest Period applicable thereto (subject to the provisions of the definition of Interest Period), (v) the Currency of the requested Borrowing. Each Revolving Borrowing shall consist entirely of Base Rate Loans, Index Rate Loans or Eurodollar Eurocurrency Rate Loans, as the Borrower may request, and (vi) the account of the Borrower to which the proceeds of such Revolving Borrowing should be credited; provided, that any Revolving Loans funded on the Closing Date shall in any Alternate Currency may only be Index outstanding as Eurocurrency Rate Loans. The aggregate principal amount of each Eurodollar Revolving Eurocurrency Rate Borrowing shall be not less than $1,000,000 or a larger multiple of $1,000,000, and the aggregate principal amount of each Base Rate Revolving Borrowing and Index Rate Revolving Borrowing shall not be less than $1,000,000 or a larger multiple of $500,000100,000 (or in the case of Borrowings made in any Alternate Currency, minimum and multiple amounts of such Alternate Currency with comparable Dollar Equivalents of the preceding amounts, rounded upwards to the nearest 100,000 unit multiple in such Alternate Currency); provided, that Index Rate Revolving Loans or Base Rate Revolving Loans, respectively, Loans made pursuant to Section 2.4 2.4, Section 2.13 or Section 2.23(d2.22(d) may be made in lesser amounts as provided therein. At no time shall the total number of Eurodollar Eurocurrency Rate Borrowings outstanding at any time exceed eight. Promptly following the receipt of a Notice of Revolving Borrowing in accordance herewith, the Administrative Agent shall advise each Revolving Loan Lender of the details thereof and the amount of such Revolving Loan Lender’s Revolving Loan to be made as part of the requested Revolving Borrowing.

Appears in 1 contract

Samples: And Term Loan Agreement (Bristow Group Inc)

Procedure for Revolving Borrowings. The Borrower shall give the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of each Revolving Borrowing substantially in the form of Exhibit 2.3 (a “Notice of Revolving Borrowing”) (x) prior to 11:00 a.m. (Richmond, Virginia New York time) on the same Business Day as the requested date of each Base Rate Borrowing or Index Rate Borrowing and Borrowing, (y) prior to 11:00 a.m. (Richmond, Virginia New York time) three (3) Business Days prior to the requested date of each Eurodollar BorrowingEurocurrency Borrowing denominated in Dollars and (z) prior to 11:00 a.m. (New York time) four (4) Business Days (or five (5) Business Days in the case of a Special Notice Currency) prior to the requested date of each Eurocurrency Borrowing denominated in Alternative Currencies. Each Notice of Revolving 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 Revolving Loan comprising such Borrowing and Borrowing, (iv) in the case of a Eurodollar Eurocurrency Borrowing, the duration of the initial Interest Period applicable thereto (subject to the provisions of the definition of Interest Period”)) and (v) if a Eurocurrency Borrowing, the currency of the Revolving Loans to be borrowed. If the Borrower fails to specify a currency in a Notice of Revolving Borrowing with respect to a Eurocurrency Borrowing, then the Revolving Loans so requested shall be made in Dollars. Each Revolving Borrowing shall consist entirely of Base Rate Revolving Loans, Index Rate Revolving Loans or Eurodollar Eurocurrency Revolving Loans, as the Borrower may request, provided, that any Revolving Loans funded on the Closing Date all Revolving Loans shall be Index Rate Revolving Loans. The aggregate principal amount of each Eurodollar Revolving Eurocurrency Borrowing shall be not less than $1,000,000 100,000 or a larger multiple of $1,000,000100,000, and the aggregate principal amount of each Base Rate Revolving Borrowing and Index Rate Revolving Borrowing shall not be less than $1,000,000 50,000 or a larger multiple of $500,00050,000; provided, that Index Rate Revolving Loans or Base Rate Revolving Loans, respectively, made pursuant to Section 2.4 or Section 2.23(d) may be made in lesser amounts as provided therein. At no time shall the total number of Eurodollar Eurocurrency Borrowings outstanding at any time exceed eightfive. Promptly following the receipt of a Notice of Revolving Borrowing in accordance herewith, the Administrative Agent shall advise each Revolving Loan Lender of the details thereof and the amount of such Revolving Loan Lender’s Revolving Loan to be made as part of the requested Revolving Borrowing.

Appears in 1 contract

Samples: Pledge Agreement (Maximus Inc)

Procedure for Revolving Borrowings. The Borrower shall give the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of each Revolving Borrowing substantially in the form of Exhibit 2.3 (a “Notice of Revolving Borrowing”) (x) prior to 11:00 a.m. 12:00 noon one (Richmond, Virginia time1) on the same Business Day as prior to the requested date of each Base Rate Borrowing or Index Rate Borrowing and Borrowing, (y) prior to 11:00 a.m. (Richmond, Virginia time) 12:00 noon three (3) Business Days prior to the requested date of each Eurodollar BorrowingBorrowing to be funded in Dollars and (z) prior to 12:00 noon four (4) Business Days prior to the requested date of each Eurodollar Borrowing to be funded in Euros. Each Notice of Revolving Borrowing shall be irrevocable and shall specify: (i) whether such Borrowing shall be in Dollars or Euros, (ii) the aggregate principal amount of such Borrowing, (iiiii) the date of such Borrowing (which shall be a Business Day), (iiiiv) the Type of such Revolving Loan comprising such Borrowing and (ivv) 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 Revolving Borrowing shall consist entirely of Base Rate Loans, Index Rate Loans or Eurodollar Loans, as the Borrower may requestrequest provided, providedhowever, that any Revolving Loans Borrowing funded on the Closing Date shall in Euros may only be Index Rate outstanding as Eurodollar Loans. The aggregate principal amount of each Eurodollar Revolving Borrowing shall be not less than the Dollar Equivalent of $1,000,000 5,000,000 or a larger multiple of $1,000,000, and the aggregate principal amount of each Base Rate Revolving Borrowing and Index Rate Revolving Borrowing shall not be less than $1,000,000 or a larger multiple of $500,000100,000; provided, that Index Rate Revolving Loans or Base Rate Revolving Loans, respectively, Loans made pursuant to Section 2.4 or Section 2.23(d2.21(d) may be made in lesser amounts as provided therein. At no time shall the total number of Eurodollar Borrowings outstanding at any time exceed eightten. Promptly following the receipt of a Notice of Revolving Borrowing in accordance herewith, the Administrative Agent shall advise each Revolving Loan Lender of the details thereof and the amount of such Revolving Loan Lender’s Revolving Loan to be made as part of the requested Revolving Borrowing.

Appears in 1 contract

Samples: Pledge Agreement (Heico Corp)

Procedure for Revolving Borrowings. (a) The Borrower Borrowers shall give the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of each Revolving Borrowing substantially in the form of Exhibit 2.3 (a "Notice of Revolving Borrowing") (x) prior to 11:00 a.m. noon (RichmondAtlanta, Virginia Georgia time) on the same one (1) Business Day as prior to the requested date of each Base Rate Borrowing or Index Rate Borrowing and (y) prior to 11:00 a.m. noon (RichmondAtlanta, Virginia Georgia time) three (3) Business Days prior to the requested date of each Eurodollar Borrowing. Each Notice of Revolving 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 Revolving Loan comprising such Borrowing and (iv) 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 Revolving Borrowing shall consist entirely of Base Rate Loans, Index Rate Loans or Eurodollar Loans, as the Borrower Borrowers may request, provided, that any Revolving Loans funded on the Closing Date shall be Index Rate Loans. The aggregate principal amount of each Eurodollar Revolving Borrowing shall be not less than $1,000,000 5,000,000 or a larger multiple of $1,000,000, and the aggregate principal amount of each Base Rate Revolving Borrowing and Index Rate Revolving Borrowing shall not be less than $1,000,000 100,000 or a larger multiple of $500,00050,000; provided, that Index Rate Revolving Loans or Base Rate Revolving Loans, respectively, Loans made pursuant to Section 2.4 or Section 2.23(d) may be made in lesser amounts as provided therein. At no time shall the total number of Eurodollar Borrowings outstanding at any time exceed eightfive (5). Promptly following the receipt of a Notice of Revolving Borrowing in accordance herewith, the Administrative Agent shall advise each Revolving Loan Lender of the details thereof and the amount of such Revolving Loan Lender’s 's Revolving Loan to be made as part of the requested Revolving Borrowing.

Appears in 1 contract

Samples: Revolving Credit Agreement (Delek US Holdings, Inc.)

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Procedure for Revolving Borrowings. The Borrower shall give the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of each Revolving Borrowing substantially in the form of Exhibit 2.3 (a “Notice of Revolving Borrowing”) (x) prior to 11:00 a.m. (Richmond, Virginia time) on the same Business Day as the requested date of each Base Rate Borrowing or Index Rate Borrowing and (y) prior to 11:00 a.m. (Richmond, Virginia time) three (3) Business Days prior to the requested date of each Eurodollar Borrowing. Each Notice of Revolving 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 Revolving Loan comprising such Borrowing and (iv) 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 Revolving Borrowing shall consist entirely of Base Rate Loans, Index Rate Loans or Eurodollar Loans, as the Borrower may request, provided, that any Revolving Loans funded on the Closing Date all Revolving Loans shall be Index Rate Loans. The aggregate principal amount of each Eurodollar Revolving Borrowing shall be not less than $1,000,000 500,000 or a larger multiple of $1,000,000100,000, and the aggregate principal amount of each Base Rate Revolving Borrowing and Index Rate Revolving Borrowing shall not be less than $1,000,000 100,000 or a larger multiple of $500,00050,000; provided, that Index Rate Revolving Loans or Base Rate Revolving Loans, respectively, made pursuant to Section 2.4 or Section 2.23(d) may be made in lesser amounts as provided therein. At no time shall the total number of Eurodollar Borrowings outstanding at any time exceed eightfive. Promptly following the receipt of a Notice of Revolving Borrowing in accordance herewith, the Administrative Agent shall advise each Revolving Loan Lender of the details thereof and the amount of such Revolving Loan Lender’s Revolving Loan to be made as part of the requested Revolving Borrowing.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (JTH Holding, Inc.)

Procedure for Revolving Borrowings. The Borrower shall give the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of each Revolving Borrowing substantially in the form of Exhibit 2.3 attached hereto (a “Notice of Revolving Borrowing”"NOTICE OF REVOLVING BORROWING") (x) prior to 11:00 a.m. one (Richmond, Virginia time1) on the same Business Day as prior to the requested date of each Base Rate Borrowing or Index Rate Borrowing and (y) prior to 11:00 a.m. (Richmond, Virginia time) three (3) Business Days prior to the requested date of each Eurodollar Borrowing. Each Notice of Revolving 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) whether the Borrowing will be made by the Borrower or the Co-Borrower, (iv) the Type of such Revolving Loan comprising such Borrowing and (ivv) 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 Revolving Borrowing shall consist entirely of Base Rate Loans, Index Rate Loans or Eurodollar Loans, as the Borrower may request, provided, that any Revolving Loans funded on the Closing Date shall be Index Rate Loans. The aggregate principal amount of each Eurodollar Revolving Borrowing shall be not less than $1,000,000 or a larger multiple of $1,000,000500,000, and the aggregate principal amount of each Base Rate Revolving Borrowing and Index Rate Revolving Borrowing shall not be less than $1,000,000 or a larger multiple of $500,000100,000; provided, that Index Rate Revolving Loans or Base Rate Revolving Loans, respectively, Loans made pursuant to Section 2.4 2.5 or Section 2.23(d2.22(c) may be made in lesser amounts as provided therein. At no time shall the total number of Eurodollar Borrowings outstanding at any time exceed eightsix. Promptly following the receipt of a Notice of Revolving Borrowing in accordance herewith, the Administrative Agent shall advise each Revolving Loan Lender of the details thereof and the amount of such Revolving Loan Lender’s 's Revolving Loan to be made as part of the requested Revolving Borrowing.

Appears in 1 contract

Samples: Revolving Credit Agreement (Aaron Rents Inc)

Procedure for Revolving Borrowings. The Borrower shall give deliver a Notice of Borrowing to the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of each Revolving Borrowing substantially in the form of Exhibit 2.3 (a “Notice of Revolving Borrowing”) Agent, (x) prior to 11:00 a.m. one (Richmond, Virginia time1) on the same Business Day as prior to the requested date of each Base Rate Borrowing or Index Rate Borrowing and (y) prior to 11:00 a.m. (Richmond, Virginia time) three (3) Business Days prior to the requested date of each Eurodollar Borrowing. Each Notice of Revolving Borrowing shall be irrevocable and shall specify: 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 Revolving Loan comprising such Borrowing and (iv) 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 Revolving Borrowing shall consist entirely of Base Rate Loans, Index Rate Loans or Eurodollar Loans, as the Borrower may request, provided, that any Revolving Loans funded on the Closing Date shall be Index Rate Loans. The aggregate principal amount of each Eurodollar Revolving Borrowing shall be not less than $1,000,000 or a larger multiple of $1,000,000, and the aggregate principal amount of each Base Rate Revolving Borrowing and Index Rate Revolving Borrowing shall not be less than $1,000,000 or a larger multiple of $500,000; provided250,000, that Index Rate Revolving Loans or and the aggregate principal amount of each Base Rate Revolving Loans, respectively, Borrowing shall not be less than $500,000 or a larger multiple of $100,000; provided that Base Rate Loans made pursuant to Section 2.4 or Section 2.23(d2.22(d) may be made in lesser amounts as provided therein. At no time shall the total number of Eurodollar Borrowings (including Revolving Borrowings and Term Loan Borrowings) outstanding at any time exceed eightten (10). Promptly following the receipt of a Notice of Revolving Borrowing in accordance herewith, the Administrative Agent shall advise each Revolving Loan Lender of the details thereof and the amount of such Revolving Loan Lender’s Revolving Loan to be made as part of the requested Revolving Borrowing. If the Borrower fails to specify a Type of Loan in a Notice of Borrowing, then the applicable Revolving Loans shall be made as Base Rate Loans. If the Borrower requests a Borrowing of Eurodollar Loans in any such Notice of Borrowing but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one month.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Amneal Pharmaceuticals, Inc.)

Procedure for Revolving Borrowings. The applicable Borrower shall give the Administrative Agent written notice (or telephonic notice promptly confirmed in writingwriting which, for the avoidance of doubt, may be delivered by e-mail in accordance with Section 11.1) of each Revolving Borrowing substantially in the form of Exhibit 2.3 attached hereto (a “Notice of Revolving Borrowing”) (x) prior to 11:00 a.m. (Richmond, Virginia time) on the same Business Day as the requested date of each Base Rate Borrowing or Index Rate Borrowing and (y) prior to 11:00 a.m. (Richmond, Virginia time) 12:00 noon three (3) Business Days prior to the requested date of each Eurodollar Borrowing; provided, that such Notice of Revolving Borrowing may be submitted on the Closing Date with respect to any Eurodollar Borrowings made on the Closing Date, solely to the extent such Notice of Revolving Borrowing is accompanied by a funding indemnity letter in form and substance reasonably satisfactory to the Administrative Agent. Each Notice of Revolving Borrowing shall be irrevocable and shall specify: specify (i) the Borrower, (ii) the aggregate principal amount of such Borrowing, (iiiii) the date of such Borrowing (which shall be a Business Day), (iiiiv) the Type of such Revolving Loan comprising such Borrowing and (ivv) 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 Revolving Borrowing shall consist entirely of Base Rate Loans, Index Rate Loans or Eurodollar Loans, as the Borrower Borrowers may request, provided, that any Revolving Loans funded on the Closing Date shall be Index Rate Loans. The aggregate principal amount of each Eurodollar Revolving Borrowing shall not be not less than $1,000,000 3,000,000 or a larger multiple of $1,000,000, and the aggregate principal amount of each Base Rate Revolving Borrowing and Index Rate Revolving Borrowing shall not be less than $1,000,000 or a larger multiple of $500,000100,000; provided, provided that Index Rate Revolving Loans or Base Rate Revolving Loans, respectively, Loans made pursuant to Section 2.4 or Section 2.23(d2.21(d) may be made in lesser amounts as provided therein. At no time shall the total number of Eurodollar Borrowings outstanding at any time exceed eighttwelve. Promptly following the receipt of a Notice of Revolving Borrowing in accordance herewith, the Administrative Agent shall advise each Revolving Loan Lender of the details thereof and the amount of such Revolving Loan Lender’s Revolving Loan to be made as part of the requested Revolving Borrowing.

Appears in 1 contract

Samples: Revolving Credit Agreement (Buckeye Partners, L.P.)

Procedure for Revolving Borrowings. The Parent Borrower, acting for itself in respect of Revolving Loans to be made as ESI Borrowings, or acting on behalf of the Subsidiary Borrower as provided in Section 10.13 in respect of Revolving Loans to be made as part of a Bay Gas LC Borrowing, shall give the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of each Revolving Borrowing substantially in the form of Exhibit 2.3 D attached hereto (a “Notice of Revolving Borrowing”) ). The Notice of Revolving Borrowing in respect of Bay Gas LC Borrowings shall be given in accordance with the requirements of Section 2.23. Each other Notice of Revolving Borrowing shall be given (x) prior to 11:00 a.m. one (Richmond, Virginia time1) on the same Business Day as prior to the requested date of each Base Rate Borrowing or Index Rate Borrowing and (y) prior to 11:00 a.m. (Richmond, Virginia time) three (3) Business Days prior to the requested date of each Eurodollar Borrowing. Each Notice of Revolving Borrowing shall be irrevocable and shall specify: (i) whether such Borrowing is being made by the Parent Borrower or by the Subsidiary Borrower, (ii) the aggregate principal amount of such Borrowing, (iiiii) the date of such Borrowing (which shall be a Business Day), (iiiiv) the Type of such Revolving Loan comprising such Borrowing Borrowing, and (ivv) 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 Revolving Borrowing shall consist entirely of Base Rate Loans, Index Rate Loans or Eurodollar Loans, as the Parent Borrower may request, provided, that any Revolving Loans funded on the Closing Date shall be Index Rate Loans. The aggregate principal amount of each Eurodollar Revolving Borrowing shall be not less than $1,000,000 or a larger multiple of $1,000,000100,000, and the aggregate principal amount of each Base Rate Revolving Borrowing and Index Rate Revolving Borrowing shall not be less than $1,000,000 or a larger multiple of $500,000100,000; provided, that Index Rate Revolving Loans or Base Rate Revolving Loans, respectively, Loans made pursuant to Section 2.4 2.5 or Loans made pursuant to Section 2.23(d) may be made in lesser amounts as provided therein. At no time shall the total number of Eurodollar Borrowings outstanding at any time exceed eightten, for Borrowings by the Parent Borrower, or one, for Borrowings by the Subsidiary Borrower. Promptly following the receipt of a Notice of Revolving Borrowing in accordance herewith, the Administrative Agent shall advise each Revolving Loan Lender of the details thereof and the amount of such Revolving Loan Lender’s Revolving Loan to be made as part of the requested Revolving Borrowing.

Appears in 1 contract

Samples: Credit Agreement (Energysouth Inc)

Procedure for Revolving Borrowings. The Borrower shall give the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of each Revolving Borrowing substantially in the form of Exhibit 2.3 (a “Notice of Revolving Borrowing”) (x) prior to 11:00 a.m. (Richmond, Virginia New York time) on the same Business Day as the requested date of each Base Rate Borrowing or Index Rate Borrowing and (y) prior to 11:00 a.m. (Richmond, Virginia New York time) three (3) Business Days prior to the requested date of each Eurodollar Borrowing. Each Notice of Revolving 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 Revolving Loan comprising such Borrowing and (iv) 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 Revolving Borrowing shall consist entirely of Base Rate Revolving Loans, Index Rate Revolving Loans or Eurodollar Revolving Loans, as the Borrower may request, provided, that any Revolving Loans funded on the Closing Date all Revolving Loans shall be Index Rate Revolving Loans. The aggregate principal amount of each Eurodollar Revolving Borrowing shall be not less than $1,000,000 100,000 or a larger multiple of $1,000,000100,000, and the aggregate principal amount of each Base Rate Revolving Borrowing and Index Rate Revolving Borrowing shall not be less than $1,000,000 50,000 or a larger multiple of $500,00050,000; provided, that Index Rate Revolving Loans or Base Rate Revolving Loans, respectively, made pursuant to Section 2.4 or Section 2.23(d) may be made in lesser amounts as provided therein. At no time shall the total number of Eurodollar Borrowings outstanding at any time exceed eightfive. Promptly following the receipt of a Notice of Revolving Borrowing in accordance herewith, the Administrative Agent shall advise each Revolving Loan Lender of the details thereof and the amount of such Revolving Loan Lender’s Revolving Loan to be made as part of the requested Revolving Borrowing.

Appears in 1 contract

Samples: Revolving Credit Agreement (Maximus Inc)

Procedure for Revolving Borrowings. The Administrative Borrower shall give the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of each Revolving Borrowing substantially in the form of Exhibit 2.3 (a “Notice of Revolving Borrowing”) (x) prior to by 11:00 a.m. (Richmond, Virginia New York time) on the same Business Day as date of the requested date of each Base Rate Borrowing or Index Rate Borrowing and (y) prior to by 11:00 a.m. (Richmond, Virginia New York time) three (3) Business Days prior to the requested date of each Eurodollar BorrowingBorrowing (other than Swingline Borrowings that are Eurodollar Borrowings). Each Notice of Revolving 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 Revolving Loan comprising such Borrowing and (iv) 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 Revolving Borrowing shall consist entirely of Base Rate Loans, Index Rate Loans or Eurodollar Loans, as the Administrative Borrower may request, provided, that any Revolving Loans funded on the Closing Date shall be Index Rate Loans. The aggregate principal amount of each Eurodollar Revolving Borrowing shall be not less than $1,000,000 or a larger integral multiple of $1,000,000500,000, and the aggregate principal amount of each Base Rate Revolving Borrowing and Index Rate Revolving Borrowing shall not be less than $1,000,000 500,000 or a larger integral multiple of $500,000100,000; provided, that Index Rate Revolving Loans or Base Rate Revolving Loans, respectively, Loans made pursuant to Section 2.4 or Section 2.23(d2.21(d) may be made in lesser amounts as provided therein. At no time shall the total number of Eurodollar Borrowings outstanding at any time exceed eight. Promptly following the receipt of a Notice of Revolving Borrowing in accordance herewith, the Administrative Agent shall advise each Revolving Loan Lender of the details thereof and the amount of such Revolving Loan Lender’s Revolving Loan to be made as part of the requested Revolving Borrowing. Each Borrower appoints the Administrative Borrower as its agent to request and receive the proceeds of the Revolving Loans on behalf of all Borrowers.

Appears in 1 contract

Samples: Revolving Credit Agreement (United Industrial Corp /De/)

Procedure for Revolving Borrowings. The Borrower shall give the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of each Revolving Borrowing substantially in the form of Exhibit 2.3 attached hereto (a "Notice of Revolving Borrowing") (x) prior to 11:00 a.m. 1:00 p.m. (Richmond, Virginia New York time) on the same Business Day as the requested date of each Base Rate Borrowing or Index Rate Borrowing and (y) prior to 11:00 a.m. 1:00 p.m. (Richmond, Virginia New York time) three (3) Business Days prior to the requested date of each Eurodollar Borrowing. Each Notice of Revolving 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 Revolving Loan comprising such Borrowing and (iv) 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 Revolving Borrowing shall consist entirely of Base Rate Loans, Index Rate Loans or Eurodollar Loans, as the Borrower may request, provided, that any Revolving Loans funded on the Closing Date shall be Index Rate Loans. The aggregate principal amount of each Eurodollar Revolving Borrowing shall be not less than $1,000,000 4,000,000 or a larger multiple of $1,000,000, and the aggregate principal amount of each Base Rate Revolving Borrowing and Index Rate Revolving Borrowing shall not be less than $1,000,000 or a larger multiple of $500,000100,000; provided, that Index Rate Revolving Loans or Base Rate Revolving Loans, respectively, Loans made pursuant to Section 2.4 2.6 or Section 2.23(d2.23(c) may be made in lesser amounts as provided therein. At no time shall the total number of Eurodollar Borrowings outstanding at any time exceed eighttwelve. Promptly following the receipt of a Notice of Revolving Borrowing in accordance herewith, the Administrative Agent shall advise each Revolving Loan Lender of the details thereof and the amount of such Revolving Loan Lender’s 's Revolving Loan to be made as part of the requested Revolving Borrowing.

Appears in 1 contract

Samples: Revolving Credit Agreement (Swift Transportation Co Inc)

Procedure for Revolving Borrowings. The To request a Revolving Borrowing, a Borrower shall give notify the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of each Revolving Borrowing substantially in the form of Exhibit 2.3 (a “Notice of Revolving Borrowing”) such request by (x) prior to 11:00 a.m. (Richmond, Virginia time) on the same Business Day as the requested date of each Base Rate Borrowing telephone or Index Rate Borrowing and (y) prior to 11:00 a.m. delivery of a written Borrowing Request (Richmonda) in the case of a Eurocurrency Borrowing under the Revolving Facility, Virginia not later than 1:00 p.m., New York City time) , three (3) Business Days prior before the date of the proposed Revolving Borrowing if such Revolving Borrowing is in Dollars, or four Business Days before the date of the proposed Revolving Borrower if such Revolving Borrowing is in a Multicurrency other than Dollars or (b) in the case of an ABR Borrowing under the Revolving Facility, not later than 1:00 p.m., New York City time, one Business Day before the date of the proposed Revolving Borrowing; provided that any notice of a Eurocurrency Borrowing on the Closing Date shall be accompanied by a funding indemnity letter satisfactory to the requested date of each Eurodollar BorrowingAdministrative Agent in its reasonable discretion. Each Notice of Revolving Any telephonic Borrowing Request shall be irrevocable and shall specifybe confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written Borrowing Request in a form approved by the Administrative Agent and signed by the applicable Borrower. Each such telephonic and written Borrowing Request shall specify the following information in compliance with Section 2.02: (i) the aggregate principal amount of the requested Borrowing; the date of such Borrowing, (ii) the date of such Borrowing (which shall be a Business Day), (iii) the Type of such Revolving Loan comprising ; whether such Borrowing and (iv) is to be an ABR Borrowing or a Eurocurrency Borrowing; in the case of a Eurodollar Eurocurrency Borrowing, the duration of the initial Interest Period applicable thereto (subject to the provisions of therefor, which shall be a period contemplated by the definition of the term “Interest Period”); the name of the applicable Borrower and location and number of its account to which funds are to be disbursed, which shall comply with the requirements of Section 2.04; and whether such Borrowing is to be under the US Revolving Commitments or the Multicurrency Revolving Commitments and, if the latter, the currency of the Revolving Loans to be borrowed. Each If no election as to the Type of Revolving Borrowing shall consist entirely of Base Rate Loansis specified, Index Rate Loans or Eurodollar Loans, as then the Borrower may request, provided, that any Revolving Loans funded on the Closing Date shall be Index Rate Loans. The aggregate principal amount of each Eurodollar requested Revolving Borrowing shall be not less than $1,000,000 or a larger multiple an ABR Borrowing. If no Interest Period is specified with respect to any requested Eurocurrency Borrowing, then the applicable Borrower shall be deemed to have selected an Interest Period of $1,000,000, and the aggregate principal amount of each Base Rate Revolving Borrowing and Index Rate Revolving Borrowing shall not be less than $1,000,000 or a larger multiple of $500,000; provided, that Index Rate Revolving Loans or Base Rate Revolving Loans, respectively, made pursuant to Section 2.4 or Section 2.23(d) may be made in lesser amounts as provided therein. At no time shall the total number of Eurodollar Borrowings outstanding at any time exceed eightone month’s duration. Promptly following the receipt of a Notice of Revolving Borrowing Request in accordance herewithwith this Section 2.03(a), the Administrative Agent shall advise each applicable Revolving Loan Lender of the details thereof and of the amount of such Revolving Loan Lender’s Revolving Loan to be made as part of the requested Revolving Borrowing.

Appears in 1 contract

Samples: Credit Agreement (Corelogic, Inc.)

Procedure for Revolving Borrowings. The Borrower shall give the Administrative Agent Lender written notice (or telephonic notice promptly confirmed in writing) of each Revolving Loan Borrowing substantially in the form of Exhibit 2.3 (a “Notice of Revolving Borrowing”) (x) prior to 11:00 a.m. (Richmond, Virginia time) on the same Business Day as the requested date of each Base Rate Borrowing or Index Rate Borrowing and (y) prior to 11:00 a.m. (Richmond, Virginia time) three (3) Business Days prior to the requested date of each Eurodollar Borrowing. Each Notice of Revolving 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 Class of such Revolving Loan comprising such Borrowing; (iv) the Type of such Revolving Loan comprising such Borrowing and (ivv) 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 Revolving Loan Borrowing shall consist entirely of Base Rate Loans, Index Rate Loans or Eurodollar LoansLoans or a combination thereof, as the Borrower may request, provided, that any Revolving Loans funded on the Closing Date shall be Index Rate Loans. The aggregate principal amount of each Eurodollar Revolving Borrowing shall be not less than $1,000,000 100,000 or a larger multiple of $1,000,00050,000, and the aggregate principal amount of each Base Rate Revolving Borrowing and Index Rate Revolving Borrowing shall not be less than $1,000,000 100,000 or a larger multiple of $500,00050,000; provided, that Index Rate Revolving Loans or Base Rate Revolving Loans, respectively, Loans made pursuant to Section 2.4 or Section 2.23(d2.17(c) may be made in lesser amounts as provided therein. At no time shall the total number of Eurodollar Borrowings outstanding at any time exceed eight. Promptly following The Lender will make such Loans available to the receipt Borrower by promptly crediting the amounts requested by the close of business on such proposed date to an account maintained by the Borrower with the Lender or, at the Borrower’s option, by effecting a Notice of Revolving Borrowing in accordance herewith, the Administrative Agent shall advise each Revolving Loan Lender of the details thereof and the amount wire transfer of such Revolving Loan amounts to an account designated by the Borrower to the Lender’s Revolving Loan to be made as part of the requested Revolving Borrowing.

Appears in 1 contract

Samples: Credit Agreement (Health Insurance Innovations, Inc.)

Procedure for Revolving Borrowings. The Borrower shall give the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of each Revolving Borrowing substantially in the form of Exhibit 2.3 attached hereto (a "Notice of Revolving Borrowing") (x) prior to 11:00 a.m. 1:00 p.m. (Richmond, Virginia New York time) on the same Business Day as the requested date of each Base Rate Borrowing or Index Rate Borrowing and (y) prior to 11:00 a.m. 1:00 p.m. (Richmond, Virginia New York time) three (3) Business Days prior to the requested date of each Eurodollar Borrowing. Each Notice of Revolving 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 Revolving Loan comprising such Borrowing and (iv) 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 Revolving Borrowing shall consist entirely of Base Rate Loans, Index Rate Loans or Eurodollar Loans, as the Borrower may request, provided, that any Revolving Loans funded on the Closing Date shall be Index Rate Loans. The aggregate principal amount of each Eurodollar Revolving Borrowing shall be not less than $1,000,000 4,000,000 or a larger multiple of $1,000,000, and the aggregate principal amount of each Base Rate Revolving Borrowing and Index Rate Revolving Borrowing shall not be less than $1,000,000 or a larger multiple of $500,000100,000; provided, that Index Rate Revolving Loans or Base Rate Revolving Loans, respectively, Loans made pursuant to Section 2.4 2.6 or Section 2.23(d2.24(c) may be made in lesser amounts as provided therein. At no time shall the total number of Eurodollar Borrowings outstanding at any time exceed eighttwelve. Promptly following the receipt of a Notice of Revolving Borrowing in accordance herewith, the Administrative Agent shall advise each Revolving Loan Lender of the details thereof and the amount of such Revolving Loan Lender’s 's Revolving Loan to be made as part of the requested Revolving Borrowing.

Appears in 1 contract

Samples: Revolving Credit Agreement (Swift Transportation Co Inc)

Procedure for Revolving Borrowings. The Borrower shall give the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of each Revolving Borrowing substantially in the form of Exhibit 2.3 attached hereto (a "Notice of Revolving Borrowing") (x) prior to 11:00 a.m. (RichmondAtlanta, Virginia Georgia time) on the same one (1) Business Day as prior to the requested date of each Base Rate Borrowing or Index Rate Borrowing and (y) prior to 11:00 a.m. (RichmondAtlanta, Virginia Georgia time) three (3) Business Days prior to the requested date of each Eurodollar Borrowing. Each Notice of Revolving 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 Revolving Loan comprising such Borrowing and (iv) 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 Revolving Borrowing shall consist entirely of Base Rate Loans, Index Rate Loans or Eurodollar Loans, as the Borrower may request, provided, that any Revolving Loans funded on the Closing Date shall be Index Rate Loans. The aggregate principal amount of each Eurodollar Revolving Borrowing shall be not less than $1,000,000 5,000,000 or a larger multiple of $1,000,000, and the aggregate principal amount of each Base Rate Revolving Borrowing and Index Rate Revolving Borrowing shall not be less than $1,000,000 or a larger multiple of $500,000100,000; provided, that Index Rate Revolving Loans or Base Rate Revolving Loans, respectively, Loans made pursuant to Section 2.4 2.5 or Section 2.23(d2.23(c) may be made in lesser amounts as provided therein. At no time shall the total number of Eurodollar Borrowings and Competitive Bid Loans outstanding at any time exceed eightten. Promptly following the receipt of a Notice of Revolving Borrowing in accordance herewith, the Administrative Agent shall advise each Revolving Loan Lender of the details thereof and the amount of such Revolving Loan Lender’s 's Revolving Loan to be made as part of the requested Revolving Borrowing.

Appears in 1 contract

Samples: Revolving Credit Agreement (Hughes Supply Inc)

Procedure for Revolving Borrowings. The Borrower shall give the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of each Revolving Borrowing substantially in the form of Exhibit 2.3 attached hereto (a “Notice of Revolving Borrowing”"NOTICE OF REVOLVING BORROWING") (x) prior to 11:00 a.m. (RichmondAtlanta, Virginia Georgia time) on the same one (1) Business Day as prior to the requested date of each Base Rate Borrowing or Index Rate Borrowing and (y) prior to 11:00 a.m. (RichmondAtlanta, Virginia Georgia time) three (3) Business Days prior to the requested date of each Eurodollar Borrowing. Each Notice of Revolving 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 Revolving Loan comprising such Borrowing and (iv) 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 Revolving Borrowing shall consist entirely of Base Rate Loans, Index Rate Loans or Eurodollar Loans, as the Borrower may request, provided, that any Revolving Loans funded on the Closing Date shall be Index Rate Loans. The aggregate principal amount of each Eurodollar Revolving Borrowing shall be not less than $1,000,000 or a larger multiple of $1,000,000, and the aggregate principal amount of each Base Rate Revolving Borrowing and Index Rate Revolving Borrowing shall not be less than $1,000,000 or a larger multiple of $500,000; provided, that Index Rate Revolving Loans or Base Rate Revolving Loans, respectively, made pursuant to Section 2.4 or Section 2.23(d) may be made in lesser amounts as provided therein100,000. At no time shall the total number of Eurodollar Borrowings outstanding at any time exceed eightsix. Promptly following the receipt of a Notice of Revolving Borrowing in accordance herewith, the Administrative Agent shall advise each Revolving Loan Lender of the details thereof and the amount of such Revolving Loan Lender’s 's Revolving Loan to be made as part of the requested Revolving Borrowing.

Appears in 1 contract

Samples: Revolving Credit Loan Agreement (Lone Star Steakhouse & Saloon Inc)

Procedure for Revolving Borrowings. The Borrower shall give the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of each Revolving Borrowing substantially in the form of Exhibit 2.3 attached hereto or such other form as may be approved by the Administrative Agent (including any form on an electronic platform or electronic transmission system as shall be approved by the Administrative Agent), appropriately completed and signed by a Responsible Officer of the Borrower (a “Notice of Revolving Borrowing”) (x) prior to 11:00 a.m. (Richmond, Virginia time) noon on the same Business Day as of the requested date of each Base Rate Borrowing or Index Rate Borrowing and (y) prior to 11:00 a.m. (Richmond, Virginia time) 2:00 p.m. three (3) Business Days prior to the requested date of each Eurodollar Borrowing. Each Notice of Revolving 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 Revolving Loan comprising such Borrowing and (iv) 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 Revolving Borrowing shall consist entirely of Base Rate Loans, Index Rate Loans or Eurodollar Loans, as the Borrower may request, provided, that any Revolving Loans funded on the Closing Date shall be Index Rate Loans. The aggregate principal amount of each Eurodollar Revolving Borrowing shall be not less than $1,000,000 or a larger multiple of $1,000,000500,000, and the aggregate principal amount of each Base Rate Revolving Borrowing and Index Rate Revolving Borrowing shall not be less than $1,000,000 200,000 or a larger multiple of $500,000100,000; provided, that Index Rate Revolving Loans or Base Rate Revolving Loans, respectively, Loans made pursuant to Section 2.4 or Section 2.23(d) 2.21 may be made in lesser amounts as provided therein. At no time shall the total number of Eurodollar Borrowings outstanding at any time exceed eight. Promptly following the receipt of a Notice of Revolving Borrowing in accordance herewith, the Administrative Agent shall advise each Revolving Loan Lender of the details thereof and the amount of such Revolving Loan Lender’s Revolving Loan to be made as part of the requested Revolving Borrowing.

Appears in 1 contract

Samples: Revolving Credit Agreement (Ruby Tuesday Inc)

Procedure for Revolving Borrowings. The Borrower shall give the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of each Revolving Borrowing substantially in the form of Exhibit 2.3 attached hereto (a “Notice of Revolving Borrowing”"NOTICE OF REVOLVING BORROWING") (x) prior to 11:00 a.m. 1:00 p.m. (RichmondAtlanta, Virginia Georgia time) on the same Business Day as the requested date of each Base Rate Borrowing or Index Rate Borrowing and (y) prior to 11:00 a.m. 1:00 p.m. (RichmondAtlanta, Virginia Georgia time) at least three (3) Business Days prior to the requested date of each Eurodollar Borrowing. Each Notice of Revolving 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 Revolving Loan comprising such Borrowing and (iv) 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 Revolving Borrowing shall consist entirely of Base Rate Loans, Index Rate Loans or Eurodollar Loans, as the Borrower may request, provided, that any Revolving Loans funded on the Closing Date shall be Index Rate Loans. The aggregate principal amount of each Eurodollar Revolving Borrowing shall be not less than $1,000,000 2,500,000 or a larger multiple of $1,000,000500,000, and the aggregate principal amount of each Base Rate Revolving Borrowing and Index Rate Revolving Borrowing shall not be less than $1,000,000 or a larger multiple of $500,000; provided, that Index Rate Revolving Loans or Base Rate Revolving Loans, respectively, made pursuant to Section 2.4 or Section 2.23(d) may be made in lesser amounts as provided therein100,000. At no time shall the total number of Eurodollar Borrowings outstanding at any time exceed eightsix. Promptly following the receipt of a Notice of Revolving Borrowing in accordance herewith, the Administrative Agent shall advise each Revolving Loan Lender of the details thereof and the amount of such Revolving Loan Lender’s 's Revolving Loan to be made as part of the requested Revolving Borrowing.

Appears in 1 contract

Samples: Revolving Credit Agreement (Haverty Furniture Companies Inc)

Procedure for Revolving Borrowings. The Borrower shall give the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of each Revolving Borrowing substantially in the form of Exhibit 2.3 (a “Notice of Revolving Borrowing”) (x) prior to 11:00 a.m. (Richmond, Virginia time) on the same Business Day as the requested date of each Base Rate Borrowing or Index Rate Borrowing and Borrowing, (y) prior to 11:00 a.m. (Richmond, Virginia time) three (3) Business Days prior to the requested date of each Eurodollar BorrowingEurocurrency Borrowing denominated in Dollars and (z) prior to 11:00 a.m. (New York time) three (3) Business Days (or four (4) Business Days in the case of Australian Dollars or five (5) Business Days in the case of a Special Notice Currency) prior to the requested date of each Eurocurrency Borrowing denominated in Alternative Currencies. Each Notice of Revolving Borrowing shall be irrevocable (unless contingent on the consummation of an anticipated transaction and the Borrower shall, as promptly as practicable, notify the Administrative Agent that such transaction will not occur as scheduled) 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 Revolving Loan comprising such Borrowing and Borrowing, (iv) in the case of a Eurodollar BorrowingEurocurrency Borrowing not denominated in Sterling, the duration of the initial Interest Period applicable thereto (subject to the provisions of the definition of “Interest Period”)) and (v) if a Eurocurrency Borrowing, the currency of the Revolving Loans to be borrowed. If the Borrower fails to specify a currency in a Notice of Revolving Borrowing with respect to a Eurocurrency Borrowing, then the Revolving Loans so requested shall be made in Dollars. Each Revolving Borrowing shall consist entirely of Base Rate Loans, Index Rate Loans or Eurodollar Eurocurrency Loans, as the Borrower may request, provided, that any Revolving Loans funded on the Closing Date shall be Index Rate Loans. The aggregate principal amount of each Eurodollar Eurocurrency Revolving Borrowing shall be not less than $1,000,000 or a larger multiple of $1,000,000, and the aggregate principal amount of each Base Rate Revolving Borrowing and Index Rate Revolving Borrowing shall not be less than $1,000,000 or a larger multiple of $500,000; provided, that Index Rate Revolving Loans or Base Rate Revolving Loans, respectively, made pursuant to Section 2.4 or Section 2.23(d) may be made in lesser amounts as provided therein. At no time shall the total number of Eurodollar Eurocurrency Borrowings outstanding at any time exceed eight. Promptly following the receipt of a Notice of Revolving Borrowing in accordance herewith, the Administrative Agent shall advise each Revolving Loan Lender of the details thereof and the amount of such Revolving Loan Lender’s Revolving Loan to be made as part of the requested Revolving Borrowing.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Strategic Education, Inc.)

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