Common use of Procedure for Revolving Credit Loans Clause in Contracts

Procedure for Revolving Credit Loans. Each Revolving Credit Loan may be made by CNB at the oral or written request of anyone who is authorized in writing by Borrower to request Revolving Credit Loans until written notice of the revocation of such authority is received by CNB. To the extent Borrower is requesting a LIBOR Loan, the procedures for making such request shall be as set forth in Section 2.2.1 hereof. To the extent Borrower is requesting a Prime Loan, Borrower may request that a Loan be a Prime Loan (including a conversion of a LIBOR Loan to a Prime Loan), and Borrower’s request will be irrevocable, will be made to CNB, orally or in writing, no earlier than three (3) Business Day before and no later than 3:00 p.m. Pacific Time on the date the Prime Loan is to be made, and will specify the amount of the Prime Loan and the disbursement date for such Prime Loan.