Common use of Procedure for Revolving Borrowings Clause in Contracts

Procedure for Revolving Borrowings. The Borrowers’ Agent 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”) prior to 11:00 a.m. one (1) Business Day prior to the requested date of each Borrowing; provided that, so long as there is only one Lender, such Notice of Revolving Borrowing instead may be given prior to 11:00 a.m. on the requested Borrowing date. Each Notice of Revolving Borrowing shall be irrevocable and shall: (i) specify the aggregate principal amount of such Borrowing, (ii) specify the date of such Borrowing (which shall be a Business Day), and (iii) certify that there is availability under the Borrowing Base after giving effect to such Borrowing. Each Revolving Borrowing shall consist entirely of LIBOR Index Rate Loans, except as is otherwise set forth in this Agreement. The aggregate principal amount of each Borrowing shall not be less than $100,000 or a larger multiple of $100,000. Promptly following the receipt of a Notice of Revolving Borrowing in accordance herewith, the Administrative Agent shall advise each Lender of the details thereof and the amount of such Lender’s Revolving Loan to be made as part of the requested Revolving Borrowing.

Procedure for Revolving Borrowings. The Borrowers’ Agent 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”) prior to 11:00 a.m. one (1) Business Day prior to the requested date of each Borrowing; provided that, so long as there is only one Lender, such Notice of Revolving Borrowing instead may be given prior to 11:00 a.m. on the requested Borrowing date. Each Notice of Revolving Borrowing shall be irrevocable and shall: shall specify (i) specify the aggregate principal amount of such Borrowing, Borrowing and (ii) specify the date of such Borrowing (which shall be a Business Day), and (iii) certify that there is availability under the Borrowing Base after giving effect to such Borrowing. Each Revolving Borrowing shall consist entirely of LIBOR Index Rate Loans, except as is otherwise set forth in this Agreement. The aggregate principal amount of each Borrowing shall not be less than $100,000 or a larger integral multiple of $100,000. Promptly following the receipt of a Notice of Revolving Borrowing in accordance herewith, the Administrative Agent shall advise each Lender of the details thereof and the amount of such Lender’s Revolving Loan to be made as part of the requested Revolving Borrowing.

Procedure for Revolving Borrowings. The Borrowers’ Agent Borrower shall give the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of each Revolving Borrowing or LIBOR Index Rate Borrowing substantially in the form of Exhibit 2.3 (a “Notice of Revolving Borrowing”) prior to 11:00 a.m. one (1) Business Day prior to on the requested date of each LIBOR Index Rate Borrowing; provided that, so long as there is only one Lender, such Notice of Revolving Borrowing instead may be given prior to 11:00 a.m. on the requested Borrowing date. Each Notice of Revolving Borrowing shall be irrevocable and shallshall specify: (i) specify the aggregate principal amount of such Borrowing, Borrowing and (ii) specify the date of such Borrowing (which shall be a Business Day). Except as expressly set forth in this Agreement, and (iii) certify that there is availability under the Borrowing Base after giving effect to such Borrowing. Each each Revolving Borrowing shall consist entirely of LIBOR Index Rate Loans, except as is otherwise set forth in this Agreement. The aggregate principal amount of each Base Rate Borrowing (when and if applicable) and LIBOR Index Rate Borrowing shall not be less than $100,000 1,000,000 or a larger multiple of $100,000. Promptly following the receipt of a Notice of Revolving Borrowing in accordance herewith, the Administrative Agent shall advise each Lender of the details thereof and the amount of such Lender’s Revolving Loan to be made as part of the requested Revolving Borrowing.