Common use of Procedure for Revolving Credit Borrowings Clause in Contracts

Procedure for Revolving Credit Borrowings. (a) The Borrower may borrow under the Commitment for Revolving Credit Loans prior to the Maturity Date on any Business Day. The Borrower shall give the Agent irrevocable notice (which notice must be received by the Agent prior to 10:00 a.m., New Jersey time, three Business Days prior to the requested Borrowing Date, if all or any part of the requested Revolving Credit Loans are to be initially Eurodollar Loans and one Business Day prior to the requested Borrowing Date in the case of Prime Rate Loans), specifying (1) the amount to be borrowed, (2) the requested Borrowing Date, (3) whether the borrowing is to be of Eurodollar Loans or Prime Rate Loans or a combination thereof and (4) if the borrowing is to be entirely or partly of Eurodollar Loans, the amount of such Loans and the length of the initial Interest Period therefor. Each Revolving Credit Loan shall be in an amount equal to (x) in the case of Prime Rate Loans, $50,000 or a whole multiple thereof (or, if less, the then Available Commitment) and (y) in the case of Eurodollar Loans $500,000 or a whole multiple of $10,000 in excess thereof. The Agent shall promptly notify the Lenders of its receipt of any such irrevocable notice of borrowing from the Borrower.

Procedure for Revolving Credit Borrowings. (a) The Borrower may borrow under the Commitment for Revolving Credit Loans prior to the Maturity Date on any Business Day. The Borrower shall give the Agent irrevocable notice (which notice must be received by the Agent prior to 10:00 11:00 a.m., New Jersey time, three Business Days prior to the requested Borrowing Date, if all or any part of the requested Revolving Credit Loans are to be initially Eurodollar Loans and one Business Day (provided that the Borrower shall not maintain any Loans as Eurodollar Loans prior to the earlier of July 30, 2002 and the date a Purchasing Lender shall have entered into an Assignment and Acceptance with PNC with respect to not less than $20,000,000 in principal amount of the Loans and commitments of PNC hereunder) and on the requested Borrowing Date in the case of Prime Base Rate Loans), specifying (1) the amount to be borrowed, (2) the requested Borrowing Date, (3) whether the borrowing is to be of Eurodollar Loans or Prime Base Rate Loans or a combination thereof and (4) if the borrowing is to be entirely or partly of Eurodollar Loans, the amount of such Loans and the length of the initial Interest Period therefor. Each Revolving Credit Loan shall be in an amount equal to (x) in the case of Prime Base Rate Loans, $50,000 250,000 or a whole multiple of $50,000 in excess thereof (or, if less, the then Available Commitment) and (y) in the case of Eurodollar Loans $500,000 or a whole multiple of $10,000 100,000 in excess thereof. The Agent shall promptly notify the Lenders of its receipt of any such irrevocable notice of borrowing from the Borrower.

Procedure for Revolving Credit Borrowings. (a) The Borrower Company may borrow under pursuant to subsection 2.1 hereof on any Working Day if the Commitment for Revolving Credit borrowing (or any portion thereof) consists of Eurodollar Loans prior to the Maturity Date or on any Business Day. The Borrower shall give Day if the borrowing consists entirely of ABR Loans and/or CD Rate Loans by the Company giving the Administrative Agent irrevocable written notice (which or telephonic notice must be received by the Agent promptly confirmed in writing) prior to 10:00 a.m.11:45 A.M., New Jersey York City time, three Business Days prior to the requested Borrowing Dateon, if all or any part of the requested Revolving Credit Loans are to be initially Eurodollar Loans and one Business Day prior to the requested Borrowing Date in the case of Prime ABR Loans, two Business Days prior to, in the case of CD Rate Loans), and three Working Days prior to, in the case of Eurodollar Loans, the proposed Borrowing Date specifying (1a) the amount to be borrowed, (2b) the requested Borrowing Date, (3c) whether the borrowing is to be of a Eurodollar Loans or Prime Loan, a CD Rate Loans Loan, an ABR Loan, or a combination thereof and (4d) if the borrowing is to be entirely or partly of a Eurodollar LoansLoan or a CD Rate Loan, the amount of such Loans and the length of the initial Interest Period thereforPeriod(s) thereof. Each Revolving Credit Loan borrowing shall be in an aggregate principal amount equal to of the lesser of (xi) in the case of Prime Rate Loans, $50,000 or a whole multiple thereof (or, if less, the then Available Commitment) and (y) in the case of Eurodollar Loans $500,000 10,000,000 or a whole multiple of $10,000 5,000,000 in excess thereofthereof and (ii) the then Credit Availability Amount. The Upon receipt of such notice from the Company, the Administrative Agent shall promptly notify each Lender thereof. Not later than 1:00 P.M., New York City time, on the Lenders Borrowing Date specified in such notice, each Lender shall make available to the Administrative Agent at the Administrative Agent's Office for the account of its receipt the Company an amount in immediately available funds equal to the amount of any such irrevocable notice of borrowing from the Borrower.Revolving Credit Loan to

Procedure for Revolving Credit Borrowings. (a) The Borrower may borrow under the Commitment for Revolving Credit Loans prior to during the Maturity Date Revolving Commitment Period on any Business Day. The Borrower shall give the Agent irrevocable notice (which notice must be received by the Agent prior to 10:00 a.m., New Jersey time, three Business Days prior to the requested Borrowing Date, if all or any part of the requested Revolving Credit Loans are to be initially Eurodollar Loans and one Business Day prior to the requested Borrowing Date in the case of the initial Prime Rate LoansLoan and otherwise by 10:00 a.m. on the date of the requested Prime Rate Loan), specifying (1) the amount to be borrowed, (2) the requested Borrowing Date, (3) whether the borrowing is to be of Eurodollar Loans or Prime Rate Loans or a combination thereof and (4) if the borrowing is to be entirely or partly of Eurodollar Loans, the amount of such Loans and the length of the initial Interest Period therefor. Each Revolving Credit Loan shall be in an amount equal to (x) in the case of Prime Rate Loans, $50,000 100,000 or a whole multiple thereof (or, if less, the then Available Commitment) and (y) in the case of Eurodollar Loans $500,000 or a whole multiple of $10,000 in excess thereof. The Agent shall promptly notify the Lenders of its receipt of any such irrevocable notice of borrowing from the Borrower.

Procedure for Revolving Credit Borrowings. (a) The Borrower may borrow under the Commitment for Revolving Credit Loans prior to the Maturity Date on any Business Day. The Borrower shall give the Agent irrevocable notice (which notice must be received by the Agent prior to 10:00 a.m., New Jersey time, three Business Days prior to the requested Borrowing Date, if all or any part of the requested Revolving Credit Loans are to be initially Eurodollar Loans and one Business Day prior to the requested Borrowing Date in the case of the initial Prime Rate LoansLoan and otherwise by 12:00 noon on the date of the requested Prime Rate Loan), specifying (1) the amount to be borrowed, (2) the requested Borrowing Date, (3) whether the borrowing is to be of Eurodollar Loans or Prime Rate Loans or a combination thereof and (4) if the borrowing is to be entirely or partly of Eurodollar Loans, the amount of such Loans and the length of the initial Interest Period therefor. Each Revolving Credit Loan shall be in an amount equal to (x) in the case of Prime Rate Loans, $50,000 or a whole multiple thereof (or, if less, the then Available Commitment) and (y) in the case of Eurodollar Loans $500,000 or a whole multiple of $10,000 in excess thereof. The Agent shall promptly notify the Lenders of its receipt of any such irrevocable notice of borrowing from the Borrower.