Common use of Procedure for Revolving Loan Borrowing Clause in Contracts

Procedure for Revolving Loan Borrowing. The Borrower may borrow under the Revolving Commitments during the Revolving Availability Period on any Business Day; provided that the Borrower shall give the Administrative Agent irrevocable notice substantially in the form of Exhibit B-1 (which notice must be received by the Administrative Agent (a) prior to 2:00 p.m., New York City time, on the anticipated Closing Date for any Revolving Loans requested to be made on the Closing Date and (b) for any Revolving Loans requested to be made after the Closing Date, prior to 2:00 p.m., New York City time, (i) three (3) Business Days prior to the requested Borrowing Date, in the case of Eurodollar Loans, or (ii) one (1) Business Day prior to the requested Borrowing Date, in the case of Base Rate Loans) (provided that any such notice of a borrowing of Base Rate Loans to finance payments required to be made pursuant to Section 3.5 may be given not later than 2:00 p.m., New York City time, on the date of the proposed borrowing), specifying (x) the amount and Type of Revolving Loans to be borrowed, (y) the requested Borrowing Date and (z) in the case of Eurodollar Loans, the respective amounts of each such Type of Loan and the respective lengths of the initial Interest Period therefor; provided that prior to the earlier of (a) the Syndication Date and (b) the date that is 60 days after the Closing Date, any Revolving Loan that is a Eurodollar Loan shall have an Interest Period of one (1) month. Each borrowing under the Revolving Commitments shall be in an amount equal to (x) in the case of Base Rate Loans, $250,000 or a multiple of $100,000 in excess thereof (or, if the then aggregate Available Revolving Commitments are less than $250,000 or $100,000, as the case may be, such lesser amounts) and (y) in the case of Eurodollar Loans, $500,000 or a whole multiple of $100,000 in excess thereof (or, if the then aggregate Available Revolving Commitments are less than $500,000 or $100,000, as the case may be, such lesser amounts); provided that (x) the Swingline Lender may request, on behalf of the Borrower, borrowings under the Revolving Commitments that are Base Rate Loans in other amounts pursuant to Section 3.4 and (y) borrowings of Base Rate Loans pursuant to Section 3.11 shall not be subject to the foregoing minimum amounts. Upon receipt of any such notice from the Borrower, the Administrative Agent shall promptly notify each Revolving Lender thereof. Each Revolving Lender will make the amount of its pro rata share of each borrowing available to the Administrative Agent for the account of the Borrower at the Funding Office prior to 2:00 p.m., New York City time, on the Borrowing Date requested by the Borrower in funds immediately available to the Administrative Agent. The Administrative Agent shall make the proceeds of such Revolving Loan available to the Borrower on such Borrowing Date by wire transfer of immediately available funds to a bank account designated in writing by the Borrower to the Administrative Agent.

Appears in 6 contracts

Samples: Credit Agreement (INC Research Holdings, Inc.), Credit Agreement (INC Research Holdings, Inc.), Credit Agreement (INC Research Holdings, Inc.)

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Procedure for Revolving Loan Borrowing. The Borrower may borrow up to the Available Revolving Commitment under the Revolving Commitments during the Revolving Availability Commitment Period on any Business Day; provided that the Borrower shall give the Administrative Agent an irrevocable notice substantially in the form Notice of Exhibit B-1 Borrowing (which notice must be received by the Administrative Agent (a) prior to 2:00 p.m.1:00 P.M., New York City time, on the anticipated Closing Date for any Revolving Loans requested to be made on the Closing Date and (b) for any Revolving Loans requested to be made after the Closing Date, prior to 2:00 p.m., New York City Eastern time, (ia) three (3) Business Days prior to the requested Borrowing Date, in the case of Eurodollar Loans, or (iib) one (1) Business Day prior to the requested Borrowing Date, in the case of Base Rate LoansABR Loans (in each case, with originals to follow within three (3) Business Days)) (provided that any such notice Notice of a borrowing Borrowing of Base Rate ABR Loans under the Revolving Facility to finance payments required to be made pursuant to under Section 3.5 3.5(a) may be given not later than 2:00 p.m.1:00 P.M., New York City Eastern time, on the date of the proposed borrowing), in each such case specifying (xi) the amount and Type of Revolving Loans to be borrowed, (yii) the requested Borrowing Date and Date, (ziii) in the case of Eurodollar Loans, the respective amounts of each such Type of Loan and the respective lengths of the initial Interest Period therefor; provided that , and (iv) instructions for remittance of the proceeds of the applicable Loans to be borrowed. Unless otherwise agreed by the Administrative Agent in its sole discretion, no Revolving Loan may be made as, converted into or continued as a Eurodollar Loan having an Interest Period in excess of one month prior to the earlier of (a) the Syndication Date and (b) the date that is 60 30 days after the Closing Date. Each borrowing of, any Revolving Loan that is conversion to or continuation of a Eurodollar Loan shall have an Interest Period of one (1) month. Each borrowing under the Revolving Commitments shall be in an a principal amount equal to (x) in the case of Base Rate Loans, $250,000 1,000,000 or a whole multiple of $100,000 in excess thereof (or, if the then aggregate Available Revolving Commitments are less than $250,000 or $100,000, as the case may be1,000,000, such lesser amountsamount). Except as provided in Sections 3.5(b) and (y) 2.7(b), each borrowing of or conversion to ABR Loans shall be in the case a principal amount of Eurodollar Loans, $500,000 or a whole multiple of $100,000 in excess thereof (or, if the then aggregate Available Revolving Commitments are less than $500,000 or $100,000, as the case may be1,000,000, such lesser amountsamount); provided that (x) the Swingline Lender may request, on behalf of the Borrower, borrowings under the Revolving Commitments that are Base Rate Loans in other amounts pursuant to Section 3.4 and (y) borrowings of Base Rate Loans pursuant to Section 3.11 shall not be subject to the foregoing minimum amounts. Upon receipt of any such notice Notice of Borrowing from the Borrower, the Administrative Agent shall promptly notify each Revolving Lender thereof. Each Revolving Lender will make the amount of its pro rata share of each such borrowing available to the Administrative Agent for the account of the Borrower at the Revolving Loan Funding Office prior to 2:00 p.m.1:00 P.M., New York City Eastern time, on the Borrowing Date requested by the Borrower in funds immediately available to the Administrative Agent. The Administrative Agent shall make the proceeds of such Revolving Loan Such borrowing will then be made available to the Borrower on by the Administrative Agent crediting such Borrowing Date by wire transfer of immediately available funds to a bank account as is designated in writing to the Administrative Agent by the Borrower with the aggregate of the amounts made available to the Administrative Agent by the Revolving Lenders and in like funds as received by the Administrative Agent. No Revolving Loan which constitutes a Eurodollar Loan will be made on the Closing Date.

Appears in 3 contracts

Samples: Guarantee and Collateral Agreement (Alarm.com Holdings, Inc.), Credit Agreement (Alarm.com Holdings, Inc.), Credit Agreement (Alarm.com Holdings, Inc.)

Procedure for Revolving Loan Borrowing. The Borrower may borrow under the Revolving Commitments during the Revolving Availability Commitment Period on any Business Day; , provided that the Borrower shall give the Administrative Agent irrevocable notice substantially in the form of Exhibit B-1 (which notice must be received by the Administrative Agent prior to 11:00 A.M., Dallas, Texas time, (a) prior to 2:00 p.m., New York City time, on the anticipated Closing Date for any Revolving Loans requested to be made on the Closing Date and (b) for any Revolving Loans requested to be made after the Closing Date, prior to 2:00 p.m., New York City time, (i) three (3) Business Days prior to the requested Borrowing Date, in the case of Eurodollar Loans, or (iib) one (1) Business Day prior to on the day of the requested Borrowing Date, in the case of Base Rate Loans) (provided that any such notice of a borrowing of Base Rate Loans to finance payments required to be made pursuant to Section 3.5 may be given not later than 2:00 p.m., New York City time, on the date of the proposed borrowing), specifying (xi) the amount and Type of Revolving Loans to be borrowed, (yii) the requested Borrowing Date and (ziii) in the case of Eurodollar Loans, the respective amounts of each such Type of Revolving Loan and the respective lengths of the initial Interest Period therefor; provided that prior to the earlier of (a) the Syndication Date and (b) the date that is 60 days after the Closing Date, any Revolving Loan that is a Eurodollar Loan shall have an Interest Period of one (1) month. Each borrowing under the Revolving Commitments shall be in an amount equal to (xi) in the case of Eurodollar Loans $3,000,000 or whole multiples of $1,000,000 in excess thereof or (ii) in the case of Base Rate Loans, Loans $250,000 500,000 or a multiple of $100,000 in excess thereof (or, if the then aggregate Available Revolving Unused Commitments are of the Lenders is less than $250,000 or $100,000, as the case may be500,000, such lesser amounts) and (y) in the case of Eurodollar Loans, $500,000 or a whole multiple of $100,000 in excess thereof (or, if the then aggregate Available Revolving Commitments are less than $500,000 or $100,000, as the case may be, such lesser amountsamount); provided that (x) the Swingline Lender may request, on behalf of the Borrower, borrowings under the Revolving Commitments that are Base Rate Loans in other amounts pursuant to Section 3.4 and (y) borrowings of Base Rate Loans pursuant to Section 3.11 shall not be subject to the foregoing minimum amounts. Upon receipt of any such notice from the Borrower, the Administrative Agent shall promptly notify each Revolving Lender thereof. Each Revolving Lender will make the amount of its pro rata share of each borrowing available to the Administrative Agent for the account of the Borrower at the Funding Office prior to 2:00 p.m.P.M., New York City Dallas, Texas time, on the Borrowing Date requested by the Borrower in funds immediately available to the Administrative Agent. The Administrative Agent shall make the proceeds of such Revolving Loan Such borrowing will then be made available to the Borrower on such Borrowing Date by wire transfer of immediately available funds to a bank account designated in writing by the Administrative Agent crediting the account of the Borrower on the books of such office with the aggregate of the amounts made available to the Administrative Agent by the Lenders and in like funds as received by the Administrative Agent.

Appears in 2 contracts

Samples: Credit Agreement (Chesapeake Midstream Partners Lp), Credit Agreement (Chesapeake Midstream Partners, L.P.)

Procedure for Revolving Loan Borrowing. The Borrower may borrow under the Revolving Commitments during the Revolving Availability Period on any Business Day; provided that the Borrower shall give the Administrative Agent irrevocable notice substantially in the form of Exhibit B-1 (which notice must be received by the Administrative Agent (a) prior to 2:00 p.m., New York City time, on the anticipated Closing Date for any Revolving Loans requested to be made on the Closing Date and (b) for any Revolving Loans requested to be made after the Closing Date, prior to 2:00 p.m., New York City time, (i) three (3) Business Days prior to the requested Borrowing Date, in the case of Eurodollar Loans, or (ii) one (1) Business Day prior to the requested Borrowing Date, in the case of Base Rate Loans) (provided that any such notice of a borrowing of Base Rate Loans to finance payments required to be made pursuant to Section 3.5 may be given not later than 2:00 p.m., New York City time, on the date of the proposed borrowing), specifying (x) the amount and Type of Revolving Loans to be borrowed, (y) the requested Borrowing Date and (z) in the case of Eurodollar Loans, the respective amounts of each such Type of Loan and the respective lengths of the initial Interest Period therefor; provided that prior to the earlier of (a) the Syndication Date and (b) the date that is 60 days after the Closing Date, any Revolving Loan that is a Eurodollar Loan shall have an Interest Period of one (1) month. Each borrowing under the Revolving Commitments shall be in an amount equal to (x) in the case of Base Rate Loans, $250,000 or a multiple of $100,000 in excess thereof (or, if the then aggregate Available Revolving Commitments are less than $250,000 or $100,000, as the case may be, such lesser amounts) and (y) in the case of Eurodollar Loans, $500,000 or a whole multiple of $100,000 in excess thereof (or, if the then aggregate Available Revolving Commitments are less than $500,000 or $100,000, as the case may be, such lesser amounts); provided that (x) the Swingline Lender may request, on behalf of the Borrower, borrowings under the Revolving Commitments that are Base Rate Loans in other amounts pursuant to Section 3.4 and (y) borrowings of Base Rate Loans pursuant to Section 3.11 shall not be subject to the foregoing minimum amounts. Upon receipt of any such notice from the Borrower, the Administrative Agent shall promptly notify each Revolving Lender thereof. Each Revolving Lender will make the amount of its pro rata share of each borrowing available to the Administrative Agent for the account of the Borrower at the Funding Office prior to 2:00 p.m., New York City time, on the Borrowing Date requested by the Borrower in funds immediately available to the Administrative Agent. The Administrative Agent shall make the proceeds of such Revolving Loan available to the Borrower on such Borrowing Date by wire transfer of immediately available funds to a bank account designated in writing by the Borrower to the Administrative Agent.

Appears in 1 contract

Samples: Credit Agreement (INC Research Holdings, Inc.)

Procedure for Revolving Loan Borrowing. The Each Borrower may borrow under the Revolving Commitments during the Revolving Availability Commitment Period on any Business Day; , provided that the Borrower Company (on behalf of such Borrower) shall give the Administrative Agent irrevocable notice substantially in the form of Exhibit B-1 (which notice must be received by the Administrative Agent prior to (a) prior to 2:00 p.m.11:00 A.M., New York City timeLocal Time, on the anticipated Closing Date for any Revolving Loans requested to be made on the Closing Date and (b) for any Revolving Loans requested to be made after the Closing Date, prior to 2:00 p.m., New York City time, (i) three (3) Business Days prior to the requested Borrowing Date, in the case of Eurodollar Eurocurrency Loans, ABR Loans or Agreed Rate Loans borrowed by a Borrowing Subsidiary, or (iib) 1:00 P.M., Local Time, one (1) Business Day prior to the requested Borrowing Date, in the case of Base Rate LoansABR Loans borrowed by the Company) (provided that any such notice of a borrowing of Base Rate ABR Loans under the Revolving Commitments to finance payments required to be made pursuant to by Section 3.5 may be given not later than 2:00 p.m.12:00 P.M., New York City time, on the date of the proposed borrowing), specifying (xi) the amount and Type of Revolving Loans to be borrowed, (yii) the requested Borrowing Date and Date, (ziii) in the case of Eurodollar Eurocurrency Loans or Agreed Rate Loans, the respective amounts of each such Type of Loan and the respective lengths of the initial Interest Period therefor; provided that prior to the earlier of , (aiv) the Syndication Date location and number of the account to which funds are to be disbursed, (v) the currency of the Revolving Loans to be borrowed and (bvi) the date that is 60 days after the Closing Date, any Revolving Loan that is a Eurodollar Loan shall have an Interest Period of one (1) monthapplicable Borrower. Each borrowing under the Revolving Commitments shall be in an initial amount equal to (x) in the case of Base Rate ABR Loans, $250,000 1,000,000 or a whole multiple of $100,000 in excess thereof (or, if the then aggregate Available Revolving Commitments are less than $250,000 1,000,000 or not a whole multiple of $100,0001,000,000, as the case may be, such lesser amountsamount thereof) and (y) in the case of Eurodollar Eurocurrency Loans or Agreed Rate Loans, $500,000 5,000,000, €5,000,000 or ¥500,000,000, as applicable, or a whole multiple of $100,000 1,000,000, €1,000,000 or ¥100,000,000 in excess thereof (orthereof; provided, if the then aggregate Available Revolving Commitments are less than $500,000 or $100,000, as the case may be, such lesser amounts); provided that (x) the Swingline Lender may request, on behalf of the applicable Borrower, borrowings in Dollars under the Revolving Commitments that are Base Rate ABR Loans in other amounts pursuant to Section 3.4 and (y) borrowings of Base Rate Loans pursuant to Section 3.11 shall not be subject to the foregoing minimum amounts2.5. Upon receipt of any such notice from the BorrowerCompany, the Administrative Agent shall promptly notify each Revolving Lender thereof. Each Revolving Lender will make the amount of its pro rata share of each borrowing available to the Administrative Agent for the account of the applicable Borrower at the applicable Funding Office prior to 2:00 p.m., New York City time, on the Borrowing Date requested by the Borrower Company in funds immediately available to the Administrative Agent. The Administrative Agent shall make the proceeds of such Revolving Loan Such borrowing will then be made available to the applicable Borrower by the Administrative Agent crediting the account of the applicable Borrower on the books of such Borrowing Date by wire transfer office with the aggregate of immediately the amounts made available funds to a bank account designated in writing by the Borrower to the Administrative Agent by the applicable Lenders and in like funds as received by the Administrative Agent. If no election as to the currency of a Revolving Loan is specified in any such notice, then the requested Revolving Loan shall be denominated in Dollars. If no election as to the Type of Revolving Loan is specified in any such notice, then the requested Revolving Loan shall be a Eurocurrency Loan. If no Interest Period with respect to any Eurocurrency Loan is specified in any such notice, then the Company shall be deemed to have selected an Interest Period of one month’s duration.

Appears in 1 contract

Samples: Credit Agreement (First Solar, Inc.)

Procedure for Revolving Loan Borrowing. (a) The Borrower U.S. Borrowers may borrow under the U.S. Revolving Commitments during the U.S. Revolving Availability Commitment Period on any Business Day; , provided that the Parent Borrower shall give the Administrative Agent irrevocable telephonic notice substantially confirmed promptly in the writing in form of and substance as provided in Exhibit B-1 N (which notice must be received by the Administrative Agent (a) prior to 2:00 p.m., New York City time, on the anticipated Closing Date for any Revolving Loans requested to be made on the Closing Date and (b) for any Revolving Loans requested to be made after the Closing Date, prior to 2:00 p.m.12:00 Noon, New York City time, (a) (i) three (3) Business Days prior to the requested Borrowing Date, in the case of Eurodollar LoansLoans in Dollars, and (ii) four Business Days prior to the requested Borrowing Date in the case of Eurodollar Loans in Alternate Currency, or (iib) one (1) Business Day prior to the requested Borrowing Date, in the case of Base Rate ABR Loans) (provided that any such notice of a borrowing of Base Rate Loans to finance payments required to be made pursuant to Section 3.5 may be given not later than 2:00 p.m., New York City time, on the date of the proposed borrowing), specifying (xi) the amount and Type of U.S. Revolving Loans to be borrowed, (yii) the requested Borrowing Date Date, (iii) the account to which the proceeds of such Loans should be transferred and (ziv) in the case of Eurodollar Loans, the respective amounts of each such Type of Loan and the respective lengths of the initial Interest Period therefor; provided that therefor as well as the requested Approved Currency. Unless otherwise agreed by the Administrative Agent in its sole discretion, no U.S. Revolving Loan may be made as, converted into or continued as a Eurodollar Loan having an Interest Period in excess of one month prior to the earlier of (a) the Syndication Date and (b) the date that is 60 10 days after the Closing Date, any Revolving Loan that is a Eurodollar Loan shall have an Interest Period of one (1) month. Each borrowing under the U.S. Revolving Commitments shall be in an amount equal to (x) in the case of Base Rate ABR Loans, $250,000 1,000,000 or a whole multiple of $100,000 in excess thereof (or, if the then aggregate Available U.S. Revolving Commitments are less than $250,000 or $100,000, as the case may be1,000,000, such lesser amountsamount) and (y) in the case of Eurodollar Loans, or, in the case of Eurodollar Loans to be made in Alternate Currency, the Dollar Equivalent of the principal amount thereof shall be in an amount equal to $500,000 5,000,000 or a whole multiple of $100,000 1,000,000 in excess thereof (or, if the then aggregate Available Revolving Commitments are less than $500,000 or $100,000, as the case may be, such lesser amounts)thereof; provided that (x) the U.S. Swingline Lender may request, on behalf of the Parent Borrower, borrowings under the U.S. Revolving Commitments that are Base Rate ABR Loans in other amounts pursuant to Section 3.4 and (y) borrowings of Base Rate Loans pursuant to Section 3.11 shall not be subject to the foregoing minimum amounts2.5. Upon receipt of any such notice from the Parent Borrower, the Administrative Agent shall promptly notify each U.S. Revolving Lender thereof. Each U.S. Revolving Lender will make the amount of its pro rata share of each borrowing available to the Administrative Agent for the account of the Borrower Borrowers at the Funding Office prior to 2:00 p.m.12:00 Noon, New York City time (or, if denominated in Alternate Currency, 12:00 Noon, local time), on the Borrowing Date requested by the Parent Borrower in funds immediately available to the Administrative Agent; provided, that the amount of U.S. Loans at any time outstanding shall not exceed the U.S. Commitment, and provided, further, that the Total Outstandings shall not at any time exceed the Total Commitments. The Administrative Agent shall make the proceeds of such Revolving Loan Such borrowing will then be made available to the Borrower on such Borrowing Date by wire transfer of immediately available funds to a bank account designated in writing U.S. Borrowers by the Administrative Agent transferring to the account of the U.S. Borrowers specified by the Parent Borrower the aggregate of the amounts made available to the Administrative Agent by the U.S. Revolving Lenders and in like funds as received by the Administrative Agent.

Appears in 1 contract

Samples: Credit Agreement (Norcross Safety Products LLC)

Procedure for Revolving Loan Borrowing. (a) The Borrower may borrow under the Revolving Commitments during the Revolving Availability Commitment Period on any Business Day; , provided that the Borrower shall give the Administrative Agent irrevocable notice substantially in the form of Exhibit B-1 (which notice must be received by the Administrative Agent (a) prior to 2:00 p.m.12:00 Noon, New York City time, on the anticipated Closing Date for any Revolving Loans requested to be made on the Closing Date and at least (b) for any Revolving Loans requested to be made after the Closing Date, prior to 2:00 p.m., New York City time, (ia) three (3) Business Days prior to the requested Borrowing Date, in the case of Eurodollar Loans, or (iib) one (1) Business Day prior to the requested Borrowing Date, in the case of Base Rate ABR Loans) (provided that any such notice of a borrowing of Base Rate Loans to finance payments required to be made pursuant to Section 3.5 may be given not later than 2:00 p.m., New York City time, on the date of the proposed borrowing), specifying (xi) the principal amount and Type of Revolving Loans to be borrowed, (yii) the requested Borrowing Date and (ziii) in the case of Eurodollar Loans, the respective amounts of each such Type of Loan and the respective lengths of the initial Interest Period therefor; provided that prior to the earlier of (a) the Syndication Date and (b) the date that is 60 days after the Closing Date, any Revolving Loan that is a Eurodollar Loan shall have an Interest Period of one (1) month. Each borrowing under the Revolving Commitments shall be in an amount equal to (x) in the case of Base Rate ABR Loans, $250,000 2,000,000 or a whole multiple of $100,000 500,000 in excess thereof (or, if the then aggregate Available Revolving Commitments are less than $250,000 or $100,000, as the case may be2,000,000, such lesser amountsamount) and (y) in the case of Eurodollar Loans, $500,000 3,000,000 or a whole multiple of $100,000 1,000,000 in excess thereof (orthereof; provided, if the then aggregate Available Revolving Commitments are less than $500,000 or $100,000, as the case may be, such lesser amounts); provided that (x) the Swingline Lender may request, on behalf of the Borrower, borrowings under the Revolving Commitments that are Base Rate ABR Loans in other amounts pursuant to Section 3.4 2.6 and (y) the Borrower may request borrowings of Base Rate under the Revolving Commitments that are ABR Loans in other amounts pursuant to Section 3.11 shall not be subject to the foregoing minimum amounts. Upon receipt of any such notice from the Borrower, the Administrative Agent shall promptly notify each Revolving Lender thereof. Each Revolving Lender will make the amount of its pro rata share of each borrowing available to the Administrative Agent for the account of the Borrower at the Funding Office prior to 2:00 p.m., New York City time, on the Borrowing Date requested by the Borrower in funds immediately available to the Administrative Agent. The Administrative Agent shall make the proceeds of such Revolving Loan available to the Borrower on such Borrowing Date by wire transfer of immediately available funds to a bank account designated in writing by the Borrower to the Administrative Agent3.5.

Appears in 1 contract

Samples: Credit Agreement (Rent a Center Inc De)

Procedure for Revolving Loan Borrowing. The Borrower may borrow under the Revolving Commitments during the Revolving Availability Period on any Business Day; provided that the Borrower shall give the Administrative Agent irrevocable notice substantially in the form of Exhibit B-1 (which notice must be received by the Administrative Agent (a) prior to 2:00 p.m.11:00 a.m., New York City time, on the anticipated Closing Date for any Revolving Loans requested to be made on the Closing Date and (b) for any Revolving Loans requested to be made after the Closing Date, prior to 2:00 p.m.11:00 a.m., New York City time, (i) three (3) Business Days prior to the requested Borrowing Date, in the case of Eurodollar Loans, or (ii) one (1) Business Day prior to the requested Borrowing Date, in the case of Base Rate Loans) (provided that any such notice of a borrowing of Base Rate Loans to finance payments required to be made pursuant to Section 3.5 may be given not later than 2:00 p.m.11:00 a.m., New York City time, on the date of the proposed borrowing), specifying (x) the amount and Type of Revolving Loans to be borrowed, (y) the requested Borrowing Date and (z) in the case of Eurodollar Loans, the respective amounts of each such Type of Loan and the respective lengths of the initial Interest Period therefor; provided that prior to the earlier of (a) the Syndication Date and (b) the date that is 60 days after the Closing Date, any Revolving Loan that is a Eurodollar Loan shall have an Interest Period of one (1) month. Each borrowing under the Revolving Commitments shall be in an amount equal to (x) in the case of Base Rate Loans, $250,000 or a multiple of $100,000 in excess thereof (or, if the then aggregate Available Revolving Commitments are less than $250,000 or $100,000, as the case may be, such lesser amounts) and (y) in the case of Eurodollar Loans, $500,000 or a whole multiple of $100,000 in excess thereof (or, if the then aggregate Available Revolving Commitments are less than $500,000 or $100,000, as the case may be, such lesser amounts); provided that (x) the Swingline Lender may request, on behalf of the Borrower, borrowings under the Revolving Commitments that are Base Rate Loans in other amounts pursuant to Section 3.4 and (y) borrowings of Base Rate Loans pursuant to Section 3.11 shall not be subject to the foregoing minimum amounts. Upon receipt of any such notice from the Borrower, the Administrative Agent shall promptly notify each Revolving Lender thereof. Each Revolving Lender will make the amount of its pro rata share of each borrowing available to the Administrative Agent for the account of the Borrower at the Funding Office prior to 2:00 p.m., New York City time, on the Borrowing Date requested by the Borrower in funds immediately available to the Administrative Agent. The Administrative Agent shall make the proceeds of such Revolving Loan available to the Borrower on such Borrowing Date by wire transfer of immediately available funds to a bank account designated in writing by the Borrower to the Administrative Agent.

Appears in 1 contract

Samples: Credit Agreement (INC Research Holdings, Inc.)

Procedure for Revolving Loan Borrowing. The Borrower may borrow under the Revolving Commitments during the Revolving Availability Period on any Business Day; , provided that the Borrower shall give the Senior Administrative Agent irrevocable notice substantially in the form of Exhibit B-1 (which notice must be received by the Senior Administrative Agent (a) prior to 2:00 p.m., New York City time, on the anticipated Closing Date for any Revolving Loans requested to be made on the Closing Date and (b) for any Revolving Loans requested to be made after the Closing Date, prior to 2:00 p.m.12:00 Noon, New York City time, (ia) three (3) Business Days prior to the requested Borrowing Date, in the case of Eurodollar Loans, or (iib) one (1) Business Day prior to the requested Borrowing Date, in the case of Base Rate Loans) (provided that any such notice of a borrowing of Base Rate Loans to finance payments required to be made pursuant to Section 3.5 may be given not later than 2:00 p.m.12:00 Noon, New York City time, on the date of the proposed borrowing), specifying (xi) the amount and Type of Revolving Loans to be borrowed, (yii) the requested Borrowing Date and Date, (ziii) in the case of Eurodollar Loans, the respective amounts of each such Type of Loan and the respective lengths of the initial Interest Period therefor; provided therefore and (iv) other than in respect of Certain Funds Loans, that prior to the earlier as of (asuch date Sections 6.3(a) the Syndication Date and (b) are satisfied, and in the date case of Certain Funds Loans, that as of the Funding Date in respect of Certain Funds Loans, Section 6.4 is 60 days after satisfied. No Revolving Loans will be made on the Closing Funding Date, any Revolving Loan that is a Eurodollar Loan shall have an Interest Period of one (1) month. Each borrowing under the Revolving Commitments shall be in an amount equal to (x) in the case of Base Rate Loans, $250,000 or a multiple of $100,000 in excess thereof (or, if the then aggregate Available Revolving Commitments are less than $250,000 or $100,000, as the case may be, such lesser amounts) and (y) in the case of Eurodollar Loans, $500,000 1,000,000 or a whole multiple of $100,000 in excess thereof (or, if the then aggregate Available Revolving Commitments are less than $500,000 or $100,000, as the case may be1,000,000, such lesser amounts)amount) and (y) in the case of Eurodollar Loans, $1,000,000 or a whole multiple of $100,000 in excess thereof; provided provided, that (x) the Swingline Lender may request, on behalf of the Borrower, borrowings under the Revolving Commitments that are Base Rate Loans in other amounts pursuant to Section 3.4 and (y) borrowings of Base Rate Loans pursuant to Section 3.11 shall not be subject to the foregoing minimum amounts. Upon receipt of any such notice from the Borrower, the Senior Administrative Agent shall promptly notify each Revolving Lender thereof. Each Revolving Lender will make the amount of its pro rata share of each borrowing available to the Senior Administrative Agent for the account of the Borrower at the Funding Office prior to 2:00 p.m.P.M., New York City time, on the Borrowing Date requested by the Borrower in funds immediately available to the Senior Administrative Agent. The Administrative Agent shall make the proceeds of such Revolving Loan Such borrowing will then be made available to the Borrower on such Borrowing Date by wire transfer of immediately available funds to a bank account designated in writing by the Senior Administrative Agent crediting the account of the Borrower on the books of such office with the aggregate of the amounts made available to the Senior Administrative Agent by the Revolving Lenders and in like funds as received by the Senior Administrative Agent.

Appears in 1 contract

Samples: Senior Credit Agreement (Websense Inc)

Procedure for Revolving Loan Borrowing. The Borrower may borrow under the Revolving Commitments during the Revolving Availability Commitment Period on any Business Day; , provided that the Borrower shall give the Administrative Agent irrevocable notice substantially in the form of Exhibit B-1 E (which notice must be received by the Administrative Agent (a) prior to 2:00 p.m., New York City time, on the anticipated Closing Date for any Revolving Loans requested to be made on the Closing Date and (b) for any Revolving Loans requested to be made after the Closing Date, prior to 2:00 p.m.11:00 A.M., New York City time, (ia) three (3) Business Days prior to the requested Borrowing Date, in the case of Eurodollar LoansLoans denominated in Dollars, (b) four Business Days prior to the requested Borrowing Date, in the case of Eurodollar Loans denominated in Alternative Currencies (except that the Borrower may give notice prior to 11:00 A.M., London time, three Business Days prior to the requested Borrowing Date, in the case of Eurodollar Loans denominated in Euros or Sterling), or (iic) one (1) Business Day prior to the requested Borrowing Date, in the case of Base Rate ABR Loans) (provided that any such notice of a borrowing of Base Rate ABR Loans under the Revolving Facility to finance payments required to be made pursuant to by Section 3.5 may be given not later than 2:00 p.m.10:00 A.M., New York City time, on the date of the proposed borrowing), specifying (xi) the amount and Type of Revolving Loans to be borrowed, (yii) the requested Borrowing Date and Date, (ziii) in the case of Eurodollar Loans, the respective amounts of each such Type of Loan and the respective lengths of the initial Interest Period therefor; provided that prior to the earlier of therefor and (aiv) the Syndication Date currency of the Revolving Loans to be borrowed, and (b) certifying that the date that is 60 days after the Closing Date, any Revolving Loan that is a Eurodollar Loan shall have an Interest Period of one (1) monthconditions set forth in Section 5.2 are satisfied. Each borrowing under the Revolving Commitments shall be in an amount equal to (x) in the case of Base Rate ABR Loans, $250,000 1,000,000 or a whole multiple of $100,000 in excess thereof (or, if the then aggregate Available Revolving Commitments are less than $250,000 or $100,000, as the case may be1,000,000, such lesser amountsamount) and (y) in the case of Eurodollar Loans, the Dollar Equivalent of $500,000 5,000,000 or a whole multiple of $100,000 1,000,000 in excess thereof (orthereof; provided, if the then aggregate Available Revolving Commitments are less than $500,000 or $100,000, as the case may be, such lesser amounts); provided that (x) the Swingline Lender may request, on behalf of the Borrower, borrowings under the Revolving Commitments that are Base Rate ABR Loans in other amounts pursuant to Section 3.4 and (y) borrowings of Base Rate Loans pursuant to Section 3.11 shall not be subject to the foregoing minimum amounts2.7. Upon receipt of any such notice from the Borrower, the Administrative Agent shall promptly notify each Revolving Lender thereof. Each Revolving Lender will make the amount of its pro rata share of each borrowing available to the Administrative Agent in funds immediately available to the Administrative Agent for the account of the Borrower at the Funding Office prior to 2:00 p.m.(x) 12:00 Noon, New York City time, in the case of Revolving Loans denominated in Dollars or (y) the Applicable Time specified by the Administrative Agent, in the case of Revolving Loans denominated in an Alternative Currency, in each case, on the Borrowing Date requested by the Borrower. Such borrowing will then be made available to the Borrower in funds immediately by the Administrative Agent crediting the account of the Borrower on the books of such office with the aggregate of the amounts made available to the Administrative Agent by the Revolving Lenders and in like funds as received by the Administrative Agent. The Administrative Agent If the Borrower fails to specify a currency in the notice for any Revolving Loans, then such Revolving Loans shall be made in Dollars. Subject to Sections 2.16 and 2.18, each borrowing of Revolving Loans shall be comprised entirely of ABR Loans or Eurodollar Loans as the Borrower may request in accordance herewith. Each Revolving Lender may at its option make the proceeds any Eurodollar Loan by causing any domestic or foreign branch or Affiliate of such Revolving Loan available Lender to make such Revolving Loan; provided that any exercise of such option shall not affect the Borrower on such Borrowing Date by wire transfer obligation of immediately available funds to a bank account designated in writing by the Borrower to repay such Revolving Loan in accordance with the Administrative Agentterms of this Agreement. Borrowings of Revolving Loans of more than one Type may be outstanding at the same time, subject to Section 2.13. For purposes of the foregoing, Eurodollar Tranches having different Interest Periods, regardless of whether they commence on the same date, shall be considered separate borrowings.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (MPT Operating Partnership, L.P.)

Procedure for Revolving Loan Borrowing. The Borrower may borrow up to the Available Commitment under the Revolving Commitments during the Revolving Availability Commitment Period on any Business Day; provided that the Borrower shall give the Administrative Agent an irrevocable notice substantially in the form Notice of Exhibit B-1 Borrowing (which notice must be received by the Administrative Agent (a) prior to 2:00 p.m.10:00 A.M., New York City time, on the anticipated Closing Date for any Revolving Loans requested to be made on the Closing Date and (b) for any Revolving Loans requested to be made after the Closing Date, prior to 2:00 p.m., New York City Pacific time, (ia) three (3) Business Days prior to the requested Borrowing Date, in the case of Eurodollar Loans, or (iib) one (1) Business Day prior to the requested Borrowing Date, in the case of Base Rate LoansABR Loans (in each case, with originals to follow within three (3) Business Days)) (provided that any such notice Notice of a borrowing Borrowing of Base Rate ABR Loans under the Revolving Facility to finance payments required to be made pursuant to under Section 3.5 3.5(a) may be given not later than 2:00 p.m.10:00 A.M., New York City Pacific time, on the date of the proposed borrowing), in each such case specifying (xi) the amount and Type of Revolving Loans to be borrowed, (yii) the requested Borrowing Date and Date, (ziii) in the case of Eurodollar Loans, the respective amounts of each such Type of Loan and the respective lengths of the initial Interest Period therefor; provided that , and (iv) instructions for remittance of the proceeds of the applicable Loans to be borrowed. Unless otherwise agreed by the Administrative Agent in its sole discretion, no Revolving Loan may be made as, converted into or continued as a Eurodollar Loan having an Interest Period in excess of one month prior to the earlier of (a) the Syndication Date and (b) the date that is 60 30 days after the Closing Date. Each borrowing of, any Revolving Loan that is conversion to or continuation of a Eurodollar Loan shall have an Interest Period of one (1) month. Each borrowing under the Revolving Commitments shall be in an a principal amount equal to (x) in the case of Base Rate Loans, $250,000 5,000,000 or a whole multiple of $100,000 1,000,000 in excess thereof (or, if the then aggregate Available Revolving Commitments are less than $250,000 or $100,000, as the case may be1,000,000, such lesser amountsamount). Except as provided in Sections 3.5(b) and (y) 2.7(b), each borrowing of or conversion to ABR Loans shall be in the case a principal amount of Eurodollar Loans, $500,000 or a whole multiple of $100,000 in excess thereof (or, if the then aggregate Available Revolving Commitments are less than $500,000 or $100,000, as the case may be1,000,000, such lesser amountsamount); provided that (x) the Swingline Lender may request, on behalf of the Borrower, borrowings under the Revolving Commitments that are Base Rate Loans in other amounts pursuant to Section 3.4 and (y) borrowings of Base Rate Loans pursuant to Section 3.11 shall not be subject to the foregoing minimum amounts. Upon receipt of any such notice Notice of Borrowing from the Borrower, the Administrative Agent shall promptly notify each Revolving Lender thereof. Each Revolving Lender will make the amount of its pro rata share of each such borrowing available to the Administrative Agent for the account of the Borrower at the Revolving Loan Funding Office prior to 2:00 p.m.12:00 P.M., New York City Pacific time, on the Borrowing Date requested by the Borrower in funds immediately available to the Administrative Agent. The Administrative Agent shall make the proceeds of such Revolving Loan Such borrowing will then be made available to the Borrower on by the Administrative Agent crediting such Borrowing Date by wire transfer of immediately available funds to a bank account as is designated in writing to the Administrative Agent by the Borrower with the aggregate of the amounts made available to the Administrative AgentAgent by the Revolving Lenders and in like funds as received by the Administrative Agent or, if so specified in the Flow of Funds Agreement, the Administrative Agent shall wire transfer all or a portion of such aggregate amounts to the Existing Agent (for application against amounts then outstanding under the Existing Credit Facility), in accordance with the wire instructions specified for such purpose in the Flow of Funds Agreement.

Appears in 1 contract

Samples: Credit Agreement (Monotype Imaging Holdings Inc.)

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Procedure for Revolving Loan Borrowing. The Borrower may borrow up to the Available Revolving Commitment under the Revolving Commitments during the Revolving Availability Commitment Period on any Business Day; provided that the Borrower shall give the Administrative Agent an irrevocable notice substantially in the form Notice of Exhibit B-1 Borrowing (which notice must be received by the Administrative Agent prior to 10:00 A.M., Pacific time, (a) prior to 2:00 p.m., New York City time, on the anticipated Closing Date for any Revolving Loans requested to be made on the Closing Date and (b) for any Revolving Loans requested to be made after the Closing Date, prior to 2:00 p.m., New York City time, (i) three (3) Business Days prior to the requested Borrowing Date, in the case of Eurodollar Loans, or (iib) one (1) Business Day prior to the requested Borrowing Date, in the case of Base Rate LoansABR Loans (in each case, with originals to follow within three Business Days)) (provided that any such notice Notice of a borrowing Borrowing of Base Rate ABR Loans under the Revolving Facility to finance payments required to be made pursuant to under Section 3.5 3.5(a) may be given not later than 2:00 p.m.10:00 A.M., New York City Pacific time, on the date of the proposed borrowing), in each such case, specifying (xi) the amount and Type of Revolving Loans to be borrowed, (yii) the requested Borrowing Date and Date, (ziii) in the case of Eurodollar Loans, the respective amounts of each such Type of Loan and the respective lengths of the initial Interest Period therefor; provided that , and (iv) instructions for remittance of the proceeds of the applicable Loans to be borrowed. Unless otherwise agreed by the Administrative Agent in its sole discretion, no Revolving Loan may be made as, converted into or continued as a Eurodollar Loan having an Interest Period in excess of one month prior to the earlier of (a) the Syndication Date and (b) the date that is 60 30 days after the Closing Date. Each borrowing of, any Revolving Loan that is conversion to or continuation of a Eurodollar Loan shall have an Interest Period of one (1) month. Each borrowing under the Revolving Commitments shall be in an a principal amount equal to (x) in the case of Base Rate Loans, $250,000 or a multiple of $100,000 in excess thereof (or, if the then aggregate Available Revolving Commitments are less than $250,000 or $100,000, as the case may be, such lesser amounts) and (y) in the case of Eurodollar Loans, $500,000 or a whole multiple of $100,000 in excess thereof (or, if the then aggregate Available Revolving Commitments are less than $100,000, such lesser amount). Except as provided in Sections 3.5(b) and 2.7(b), each borrowing of or conversion to ABR Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof (or, if the then aggregate Available Revolving Commitments are less than $100,000, as the case may be, such lesser amountsamount); provided that (x) the Swingline Lender may request, on behalf of the Borrower, borrowings under the Revolving Commitments that are Base Rate Loans in other amounts pursuant to Section 3.4 and (y) borrowings of Base Rate Loans pursuant to Section 3.11 shall not be subject to the foregoing minimum amounts. Upon receipt of any such notice Notice of Borrowing from the Borrower, the Administrative Agent shall promptly notify each Revolving Lender thereof. Each Revolving Lender will make the amount of its pro rata share of each such borrowing available to the Administrative Agent for the account of the Borrower at the Revolving Loan Funding Office prior to 2:00 p.m.12:00 P.M., New York City Pacific time, on the Borrowing Date requested by the Borrower in funds immediately available to the Administrative Agent. The Administrative Agent shall make the proceeds of such Revolving Loan Such borrowing will then be made available to the Borrower on by the Administrative Agent crediting such Borrowing Date by wire transfer of immediately available funds to a bank account as is designated in writing to the Administrative Agent by the Borrower with the aggregate of the amounts made available to the Administrative Agent by the Revolving Lenders and in like funds as received by the Administrative Agent. No Revolving Loan which constitutes a Eurodollar Loan will be made on the Closing Date.

Appears in 1 contract

Samples: Credit Agreement (Fusion-Io, Inc.)

Procedure for Revolving Loan Borrowing. (a) The Borrower may borrow under the Revolving Commitments during the Revolving Availability Commitment Period on any Business Day; provided , provided, that the Borrower shall give the Administrative Agent irrevocable notice substantially in the form of Exhibit B-1 (which notice must be received by the Administrative Agent (a) prior to 2:00 p.m.12:00 Noon, New York City time, on the anticipated Closing Date for any Revolving Loans requested to be made on the Closing Date and at least (b) for any Revolving Loans requested to be made after the Closing Date, prior to 2:00 p.m., New York City time, (ia) three (3) Business Days prior to the requested Borrowing Date, in the case of Eurodollar Loans, or (iib) one (1) Business Day prior to the requested Borrowing Date, in the case of Base Rate ABR Loans) (provided that any such notice of a borrowing of Base Rate Loans to finance payments required to be made pursuant to Section 3.5 may be given not later than 2:00 p.m., New York City time, on the date of the proposed borrowing), specifying (xi) the principal amount and Type of Revolving Loans to be borrowed, (yii) the requested Borrowing Date and (ziii) in the case of Eurodollar Loans, the respective amounts of each such Type of Loan and the respective lengths of the initial Interest Period therefor; provided that prior to the earlier of (a) the Syndication Date and (b) the date that is 60 days after the Closing Date, any Revolving Loan that is a Eurodollar Loan shall have an Interest Period of one (1) month. Each borrowing under the Revolving Commitments shall be in an amount equal to (x) in the case of Base Rate ABR Loans, $250,000 2,000,000 or a whole multiple of $100,000 500,000 in excess thereof (or, if the then aggregate Available Revolving Commitments are less than $250,000 or $100,000, as the case may be2,000,000, such lesser amountsamount) and (y) in the case of Eurodollar Loans, $500,000 3,000,000 or a whole multiple of $100,000 1,000,000 in excess thereof (orthereof; provided, if the then aggregate Available Revolving Commitments are less than $500,000 or $100,000, as the case may be, such lesser amounts); provided that (x) the Swingline Lender may request, on behalf of the Borrower, borrowings under the Revolving Commitments that are Base Rate ABR Loans in other amounts pursuant to Section 3.4 2.6 and (y) the Borrower may request borrowings of Base Rate under the Revolving Commitments that are ABR Loans in other amounts pursuant to Section 3.11 shall not be subject to the foregoing minimum amounts. Upon receipt of any such notice from the Borrower, the Administrative Agent shall promptly notify each Revolving Lender thereof. Each Revolving Lender will make the amount of its pro rata share of each borrowing available to the Administrative Agent for the account of the Borrower at the Funding Office prior to 2:00 p.m., New York City time, on the Borrowing Date requested by the Borrower in funds immediately available to the Administrative Agent. The Administrative Agent shall make the proceeds of such Revolving Loan available to the Borrower on such Borrowing Date by wire transfer of immediately available funds to a bank account designated in writing by the Borrower to the Administrative Agent3.5.

Appears in 1 contract

Samples: Credit Agreement (Rent a Center Inc De)

Procedure for Revolving Loan Borrowing. The Borrower may borrow up to the Available Revolving Commitments under the Revolving Commitments during the Revolving Availability Commitment Period on any Business Day; provided that the Borrower shall give the Administrative Agent an irrevocable notice substantially in the form Notice of Exhibit B-1 Borrowing (which notice must be received by the Administrative Agent prior to 10:00 A.M., Pacific time, (a) prior to 2:00 p.m., New York City time, on the anticipated Closing Date for any Revolving Loans requested to be made on the Closing Date and (b) for any Revolving Loans requested to be made after the Closing Date, prior to 2:00 p.m., New York City time, (i) three (3) Business Days prior to the requested Borrowing Date, in the case of Eurodollar Loans, or (iib) one (1) Business Day prior to the requested Borrowing Date, in the case of Base Rate LoansABR Loans (in each case, with originals to follow within three Business Days)) (provided that any such notice Notice of a borrowing Borrowing of Base Rate ABR Loans under the Revolving Facility to finance payments required to be made pursuant to under Section 3.5 3.5(a) may be given not later than 2:00 p.m.10:00 A.M., New York City Pacific time, on the date of the proposed borrowing), in each such case specifying (xi) the amount and Type of Revolving Loans to be borrowed, (yii) the requested Borrowing Date and Date, (ziii) in the case of Eurodollar Loans, the respective amounts of each such Type of Loan and the respective lengths of the initial Interest Period therefor; provided that , and (iv) instructions for remittance of the proceeds of the applicable Loans to be borrowed. Unless otherwise agreed by the Administrative Agent in its reasonable discretion, no Revolving Loan may be made as, converted into or continued as a Eurodollar Loan having an Interest Period in excess of one month prior to the earlier of (a) the Syndication Date and (b) the date that is 60 30 days after the Closing Initial Funding Date. Each borrowing of, any Revolving Loan that is conversion to or continuation of a Eurodollar Loan shall have an Interest Period of one (1) month. Each borrowing under the Revolving Commitments shall be in an a principal amount equal to (x) in the case of Base Rate Loans, $250,000 5,000,000 or a whole multiple of $100,000 1,000,000 in excess thereof (or, if the then aggregate Available Revolving Commitments are less than $250,000 or $100,000, as the case may be1,000,000, such lesser amountsamount). Except as provided in Sections 3.5(b) and (y) 2.7(b), each borrowing of or conversion to ABR Loans shall be in the case a principal amount of Eurodollar Loans, $500,000 or a whole multiple of $100,000 in excess thereof (or, if the then aggregate Available Revolving Commitments are less than $500,000 or $100,000, as the case may be500,000, such lesser amountsamount); provided that (x) the Swingline Lender may request, on behalf of the Borrower, borrowings under the Revolving Commitments that are Base Rate Loans in other amounts pursuant to Section 3.4 and (y) borrowings of Base Rate Loans pursuant to Section 3.11 shall not be subject to the foregoing minimum amounts. Upon receipt of any such notice Notice of Borrowing from the Borrower, the Administrative Agent shall promptly notify each Revolving Lender thereof. Each Revolving Lender will make the amount of its pro rata share of each such borrowing available to the Administrative Agent for the account of the Borrower at the Revolving Loan Funding Office prior to 2:00 p.m.12:00 P.M., New York City Pacific time, on the Borrowing Date requested by the Borrower in funds immediately available to the Administrative Agent. The Administrative Agent shall make the proceeds of such Revolving Loan Such borrowing will then be made available to the Borrower on by the Administrative Agent crediting such Borrowing Date by wire transfer of immediately available funds to a bank account as is designated in writing to the Administrative Agent by the Borrower with the aggregate of the amounts made available to the Administrative Agent by the Revolving Lenders and in like funds as received by the Administrative Agent. No Revolving Loan which constitutes a Eurodollar Loan will be made on the Initial Funding Date.

Appears in 1 contract

Samples: Credit Agreement (Extreme Networks Inc)

Procedure for Revolving Loan Borrowing. The Borrower may borrow under the Revolving Commitments during the Revolving Availability Commitment Period on any Business Day; provided that the Borrower shall give the Administrative Agent an irrevocable notice substantially in the form Notice of Exhibit B-1 Borrowing (which notice must be received by the Administrative Agent prior to 10:00 A.M., Pacific Time, (a) prior to 2:00 p.m., New York City time, on the anticipated Closing Date for any Revolving Loans requested to be made on the Closing Date and (b) for any Revolving Loans requested to be made after the Closing Date, prior to 2:00 p.m., New York City time, (i) three (3) Business Days prior to the requested Borrowing Date, in the case of Eurodollar Loans, or (iib) one (1) Business Day prior to the requested Borrowing Date, in the case of Base Rate LoansABR Loans (in each case, with originals to follow within three (3) Business Days)) (provided that any such notice Notice of a borrowing Borrowing of Base Rate ABR Loans under the Revolving Facility, as applicable, to finance payments required to be made pursuant to under Section 3.5 3.5(a) may be given not later than 2:00 p.m.10:00 A.M., New York City timePacific Time, on the date of the proposed borrowing), in each such case specifying (xi) the amount and Type of Revolving Loans to be borrowed, (yii) the requested Borrowing Date and Date, (ziii) in the case of Eurodollar Loans, the respective amounts of each such Type of Loan and the respective lengths of the initial Interest Period therefor; provided that , and (iv) instructions for remittance of the proceeds of the applicable Loans to be borrowed. Unless otherwise agreed by the Administrative Agent in its sole discretion, no Revolving Loan may be made as, converted into or continued as a Eurodollar Loan having an Interest Period in excess of one month prior to the earlier of (a) the Syndication Date and (b) the date that is 60 thirty (30) days after the Closing Date. Each borrowing of, any Revolving Loan that is conversion to or continuation of a Eurodollar Loan shall have an Interest Period be in a principal amount of one Five Million Dollars (1$5,000,000) monthor a whole multiple of One Million Dollars ($1,000,000) in excess thereof. Each Except as provided in Sections 3.5(b) and 2.7(b), each borrowing under the Revolving Commitments of or conversion to ABR Loans shall be in an a principal amount equal to (x) in the case of Base Rate Loans, $250,000 500,000 or a whole multiple of One Hundred Thousand Dollars ($100,000 100,000) in excess thereof (or, if the then aggregate Available Revolving Commitments are less than $250,000 or $100,000, as the case may be500,000, such lesser amounts) amount). The Notice of Borrowing shall be accompanied by a Borrowing Base Certificate and (y) in such supporting detail and documentation as shall be reasonably requested by the case of Eurodollar Loans, $500,000 or a whole multiple of $100,000 in excess thereof (or, if the then aggregate Available Revolving Commitments are less than $500,000 or $100,000, as the case may be, such lesser amounts); provided that (x) the Swingline Lender may request, on behalf of the Borrower, borrowings under the Revolving Commitments that are Base Rate Loans in other amounts pursuant to Section 3.4 and (y) borrowings of Base Rate Loans pursuant to Section 3.11 shall not be subject to the foregoing minimum amountsAdministrative Agent. Upon receipt of any such notice Notice of Borrowing and Borrowing Base Certificate from the Borrower, the Administrative Agent shall promptly notify each Revolving Lender thereof. Each Revolving Lender will make the amount of its pro rata share of each such borrowing available to the Administrative Agent for the account of the Borrower at the Revolving Loan Funding Office prior to 2:00 p.m.12:00 P.M., New York City timePacific Time, on the Borrowing Date requested by the Borrower in funds immediately available to the Administrative Agent. The Such borrowing will then be made available to Borrower by the Administrative Agent crediting such account as is designated in writing to the Administrative Agent by Borrower with the aggregate of the amounts made available to the Administrative Agent by the Revolving Lenders and in like funds as received by the Administrative Agent; provided that the Administrative Agent shall make distribute the proceeds of such the Revolving Loan available Loans to be made on the Borrower on such Borrowing Closing Date by wire transfer in accordance with the terms and conditions of immediately available funds to a bank account designated in writing by the Borrower to the Administrative Agentthis Agreement.

Appears in 1 contract

Samples: Credit Agreement (Ultra Clean Holdings Inc)

Procedure for Revolving Loan Borrowing. (a) The Borrower or any Foreign Subsidiary Borrower may borrow Dollar Revolving Loans under the Revolving Commitments during the Revolving Availability Commitment Period on any Business Day; provided that the Borrower shall give the Administrative Agent irrevocable notice substantially in the form of Exhibit B-1 (which notice must be received by the Administrative Agent (a) prior to 2:00 p.m., New York City time, on the anticipated Closing Date for any Revolving Loans requested to be made on the Closing Date and (b) for any Revolving Loans requested to be made after the Closing Date, prior to 2:00 p.m.11:00 A.M., New York City time, (ia) three (3) Business Days prior to the requested Borrowing Date, in the case of Eurodollar Eurocurrency Loans, or (iib) one (1) Business Day prior to the requested Borrowing Date, in the case of Base Rate ABR Loans) (; provided that any such notice of a borrowing of Base Rate ABR Loans to finance payments required to be made pursuant to by Section 3.5 may be given not later than 2:00 p.m.10:00 A.M., New York City time, on the date of the proposed borrowing), specifying (xi) the amount and Type of Revolving Loans to be borrowed, (yii) the requested Borrowing Date and Date, (ziii) in the case of Eurodollar Eurocurrency Loans, the respective amounts of each such Type of Loan and the respective lengths of the initial Interest Period therefor; provided that prior to the earlier of therefor and (aiv) the Syndication Date and (b) actual borrower of such Dollar Revolving Loans, whether the date that is 60 days after the Closing Date, any Revolving Loan that is Borrower or a Eurodollar Loan shall have an Interest Period of one (1) monthspecified Foreign Subsidiary Borrower. Each borrowing of Dollar Revolving Loans under the Revolving Commitments shall be in an amount equal to (x) in the case of Base Rate Loans, $250,000 or a multiple of $100,000 in excess thereof (or, if the then aggregate Available Revolving Commitments are less than $250,000 or $100,000, as the case may be, such lesser amounts) and (y) in the case of Eurodollar Loans, $500,000 or a whole multiple of $100,000 in excess thereof (or, if the then aggregate Available Revolving Commitments are less than $500,000 or $100,000, as the case may be, such lesser amounts); provided that (x) the Swingline Lender may request, on behalf of the Borrower, borrowings under the Revolving Commitments that are Base Rate Loans in other amounts pursuant to Section 3.4 and (y) borrowings of Base Rate Loans pursuant to Section 3.11 shall not be subject to the foregoing minimum amounts. Upon receipt of any such notice from the Borrower, the Administrative Agent shall promptly notify each Revolving Lender thereof. Each Revolving Lender will make the amount of its pro rata share of each borrowing available to the Administrative Agent for the account of the Borrower at the Funding Office prior to 2:00 p.m., New York City time, on the Borrowing Date requested by the Borrower in funds immediately available to the Administrative Agent. The Administrative Agent shall make the proceeds of such Revolving Loan available to the Borrower on such Borrowing Date by wire transfer of immediately available funds to a bank account designated in writing by the Borrower to the Administrative Agent.to

Appears in 1 contract

Samples: Credit Agreement (Kadant Inc)

Procedure for Revolving Loan Borrowing. The Each Borrower may borrow under the Revolving Commitments during the Revolving Availability Commitment Period on any Business Day; , provided that the Borrower Company (on behalf of such Borrower) shall give the Administrative Agent irrevocable notice substantially in the form of Exhibit B-1 (which notice must be received by the Administrative Agent prior to (a) prior to 2:00 p.m.11:00 A.M., New York City timeLocal Time, on the anticipated Closing Date for any Revolving Loans requested to be made on the Closing Date and (b) for any Revolving Loans requested to be made after the Closing Date, prior to 2:00 p.m., New York City time, (i) three (3) Business Days prior to the requested Borrowing Date, in the case of Eurodollar LoansEurocurrency Loans or ABR Loans borrowed by a Borrowing Subsidiary, or (iib) 1:00 P.M., Local Time, one (1) Business Day prior to the requested Borrowing Date, in the case of Base Rate LoansABR Loans borrowed by the Company) (provided that any such notice of a borrowing of Base Rate ABR Loans under the Revolving Commitments to finance payments required to be made pursuant to by Section 3.5 may be given not later than 2:00 p.m.12:00 P.M., New York City time, on the date of the proposed borrowing), specifying (xi) the amount and Type of Revolving Loans to be borrowed, (yii) the requested Borrowing Date and Date, (ziii) in the case of Eurodollar Eurocurrency Loans, the respective amounts of each such Type of Loan and the respective lengths of the initial Interest Period therefor; provided that prior to the earlier of , (aiv) the Syndication Date location and number of the account to which funds are to be disbursed, (v) the currency of the Revolving Loans to be borrowed, and (bvi) the date that is 60 days after the Closing Date, any Revolving Loan that is a Eurodollar Loan shall have an Interest Period of one (1) monthapplicable Borrower. Each borrowing under the Revolving Commitments shall be in an initial amount equal to (x) in the case of Base Rate ABR Loans, $250,000 1,000,000 or a whole multiple of $100,000 in excess thereof (or, if the then aggregate Available Revolving Commitments are less than $250,000 1,000,000 or not a whole multiple of $100,0001,000,000, as the case may be, such lesser amountsamount thereof) and (y) in the case of Eurodollar Eurocurrency Loans, $500,000 5,000,000 or €5,000,000, as applicable, or a whole multiple of $100,000 1,000,000 or €1,000,000 in excess thereof (orthereof; provided, if the then aggregate Available Revolving Commitments are less than $500,000 or $100,000, as the case may be, such lesser amounts); provided that (x) the Swingline Lender may request, on behalf of the applicable Borrower, borrowings in Dollars under the Revolving Commitments that are Base Rate ABR Loans in other amounts pursuant to Section 3.4 and (y) borrowings of Base Rate Loans pursuant to Section 3.11 shall not be subject to the foregoing minimum amounts2.5. Upon receipt of any such notice from the BorrowerCompany, the Administrative Agent shall promptly notify each Revolving Lender thereof. Each Revolving Lender will make the amount of its pro rata share of each borrowing available to the Administrative Agent for the account of the applicable Borrower at the applicable Funding Office prior to 2:00 p.m., New York City time, on the Borrowing Date requested by the Borrower Company in funds immediately available to the Administrative Agent. The Administrative Agent shall make the proceeds of such Revolving Loan Such borrowing will then be made available to the applicable Borrower by the Administrative Agent crediting the account of the applicable Borrower on the books of such Borrowing Date by wire transfer office with the aggregate of immediately the amounts made available funds to a bank account designated in writing by the Borrower to the Administrative Agent by the Lenders and in like funds as received by the Administrative Agent. If no election as to the currency of a Revolving Loan is specified in any such notice, then the requested Revolving Loan shall be denominated in Dollars. If no election as to the Type of Revolving Loan is specified in any such notice, then the requested Revolving Loan shall be a Eurocurrency Loan. If no Interest Period with respect to any Eurocurrency Loan is specified in any such notice, then the Company shall be deemed to have selected an Interest Period of one month’s duration.

Appears in 1 contract

Samples: Credit Agreement (First Solar, Inc.)

Procedure for Revolving Loan Borrowing. The Borrower may borrow under the Revolving Credit Commitments during the Revolving Availability Credit Commitment Period on any Business Day; , provided that the Borrower shall give the Administrative Agent irrevocable notice substantially in the form of Exhibit B-1 (which notice must be received by the Administrative Agent (a) prior to 2:00 p.m., New York City time, on the anticipated Closing Date for any Revolving Loans requested to be made on the Closing Date and (b) for any Revolving Loans requested to be made after the Closing Date, prior to 2:00 p.m., New York City time, (i) three (3) Business Days prior to the requested Borrowing Date, in the case of Eurodollar Loans, or (iib) one (1) Business Day prior to 12:00 Noon, New York City time, on the requested Borrowing Date, in the case of Base Rate ABR Loans) (provided that any such notice of a borrowing of Base Rate Loans to finance payments required to be made pursuant to Section 3.5 may be given not later than 2:00 p.m., New York City time, on the date of the proposed borrowing), specifying (xi) the amount and Type of Revolving Loans to be borrowed, (yii) the requested Borrowing Date and (ziii) in the case of Eurodollar Loans, the respective amounts of each such Type of Loan and the respective lengths of the initial Interest Period therefor; provided that prior to the earlier of (a) the Syndication Date and (b) the date that is 60 days after . Any Revolving Loans made on the Closing Date, any Revolving Loan that is a Eurodollar Loan Date shall have an Interest Period of one (1) monthinitially be ABR Loans. Each such borrowing under the Revolving Commitments shall be in an amount equal to (x) in the case of Base Rate ABR Loans, $250,000 2,5000,000 or a whole multiple of $100,000 1,000,000 in excess thereof (or, if the then aggregate Available Revolving Credit Commitments are less than $250,000 or $100,000, as the case may be2,500,000, such lesser amountsamount) and (y) in the case of Eurodollar Loans, $500,000 5,000,000 or a whole multiple of $100,000 1,000,000 in excess thereof (orthereof: provided, if the then aggregate Available Revolving Commitments are less than $500,000 or $100,000, as the case may be, such lesser amounts); provided that (x) the Swingline Lender may request, on behalf of the Borrower, borrowings under the Revolving Credit Commitments that are Base Rate ABR Loans in other amounts pursuant to Section 3.4 and (y) borrowings of Base Rate Loans pursuant to Section 3.11 shall not be subject to the foregoing minimum amounts2.4. Upon receipt of any such notice from the Borrower, the Administrative Agent shall promptly notify each Revolving Lender thereof. Each Revolving Lender will make the amount of its pro rata share of each borrowing available to the Administrative Agent for the account of the Borrower at the Funding Office prior to 2:00 p.m., New York City time, on the Borrowing Date requested by the Borrower in funds immediately available to the Administrative Agent. The Administrative Agent shall make the proceeds of such Revolving Loan available to the Borrower on such Borrowing Date by wire transfer of immediately available funds to a bank account designated in writing by the Borrower to the Administrative Agent.the

Appears in 1 contract

Samples: Credit Agreement (Guess Inc Et Al/Ca/)

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