Common use of Procedure for Revolving Loan Borrowing Clause in Contracts

Procedure for Revolving Loan Borrowing. The Borrower may borrow under the Commitments during the Revolving Commitment Period on any Business Day, provided that the Borrower shall give the Administrative Agent irrevocable notice (which notice must be received by the Administrative Agent prior to 12:00 Noon, New York City time (a) three Business Days prior to the requested Borrowing Date, in the case of Eurodollar Loans, or (b) one Business Day prior to the requested Borrowing Date, in the case of ABR Loans) (provided that any such notice of a borrowing of Revolving Loans that are ABR Loans to finance payments required by Section 3.5 may be given not later than 10:00 A.M., New York City time, on the date of the proposed borrowing), specifying (i) the amount and Type of Revolving Loans to be borrowed, (ii) the requested Borrowing Date and (iii) 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. Each borrowing under the Commitments shall be in an amount equal to (x) in the case of ABR Loans, $1,000,000 or a whole multiple thereof (or, if the then aggregate Available Commitments are less than $1,000,000, such lesser amount) and (y) in the case of Eurodollar Loans, $5,000,000 or a whole multiple of $1,000,000 in excess thereof; provided, that the Swingline Lender may request, on behalf of the Borrower, borrowings under the Commitments that are ABR Loans in other amounts pursuant to

Appears in 1 contract

Samples: Abl Credit Agreement (TTM Technologies Inc)

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Procedure for Revolving Loan Borrowing. The Borrower may borrow up to the Available Commitment under the Commitments during the Revolving Commitment Period on any Business Day, ; provided that the Borrower shall give the Administrative Agent an irrevocable notice Notice of Borrowing (which notice must be received by the Administrative Agent prior to 12:00 Noon10:00 A.M., New York City time Pacific time, (a) three (3) Business Days prior to the requested Borrowing Date, in the case of Eurodollar Loans, or (b) one (1) Business Day prior to the requested Borrowing Date, in the case of ABR LoansLoans (in each case, with originals to follow within three (3) Business Days)) (provided that any such notice Notice of a borrowing Borrowing of Revolving Loans that are ABR Loans under the Revolving Facility to finance payments required by under Section 3.5 3.5(a) may be given not later than 10:00 A.M., New York City Pacific time, on the date of the proposed borrowing), in each such case specifying (i) the amount and Type of Revolving Loans to be borrowed, (ii) the requested Borrowing Date and Date, (iii) 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, 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 date that is 30 days after the Closing Date. Each borrowing under the Commitments of, conversion to or continuation of a Eurodollar Loan shall be in an a principal amount equal to (x) in the case of ABR Loans, $1,000,000 5,000,000 or a whole multiple of $1,000,000 in excess thereof (or, if the then aggregate Available Commitments are less than $1,000,000, such lesser amount). 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, $5,000,000 500,000 or a whole multiple of $1,000,000 100,000 in excess thereof; providedthereof (or, that if the Swingline Lender may requestthen aggregate Available Commitments are less than $1,000,000, on behalf such lesser amount). Upon receipt of any such Notice of Borrowing from the Borrower, borrowings 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 12:00 P.M., Pacific time, on the Borrowing Date requested by the Borrower in funds immediately available to the Administrative Agent. Such borrowing will then be made available to the Borrower by the Administrative Agent crediting such 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 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 Commitments that are ABR Loans Existing Credit Facility), in other amounts pursuant toaccordance with the wire instructions specified for such purpose in the Flow of Funds Agreement.

Appears in 1 contract

Samples: Senior Secured Credit Agreement (Monotype Imaging Holdings Inc.)

Procedure for Revolving Loan Borrowing. The Borrower may borrow under the Revolving Commitments during the Revolving Commitment Period on any Business Day, provided PROVIDED that the Borrower shall give the Administrative Agent irrevocable notice (which notice must be received by the Administrative Agent prior to 12:00 Noon11:00 A.M., New York City time Charlotte time, (a) three Business Days prior to the requested Borrowing Date, in the case of Eurodollar Loans, or (b) one Business Day prior to the requested Borrowing Date, in the case of ABR Loans) (provided that any such notice of a borrowing of Revolving Loans that are ABR Loans to finance payments required by Section 3.5 may be given not later than 10:00 A.M., New York City time, on the date of the proposed borrowing), specifying (i) the amount and Type of Revolving Loans to be borrowed, (ii) the requested Borrowing Date and (iii) 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 the amount of Revolving Loans made on the Closing Date shall not exceed $37,100,000, or such lesser amount as determined pursuant to Section 5.1(b)(vii)(A). Each borrowing under the Revolving Commitments shall be in an amount equal to (x) in the case of ABR Loans, $1,000,000 or a whole multiple thereof (or, if the then aggregate Available Revolving Commitments are less than $1,000,000, such lesser amount) and (y) in the case of Eurodollar Loans, $5,000,000 2,000,000 or a whole multiple of $1,000,000 500,000 in excess thereof; providedPROVIDED, that the Swingline Lender may request, on behalf of the Borrower, borrowings under the Revolving Commitments that are ABR Loans in other amounts pursuant topursuant

Appears in 1 contract

Samples: Credit Agreement (Montgomery Open Mri LLC)

Procedure for Revolving Loan Borrowing. The Borrower may borrow -------------------------------------- under the Revolving Commitments during the Revolving Commitment Period on any Business Day, provided that the Borrower shall give the Administrative Agent -------- irrevocable notice (which notice must be received by the Administrative Agent prior to 12:00 Noon11:00 A.M., New York City time time, (a) three Business Days prior to the requested Borrowing Date, in the case of Eurodollar Loans, or (b) one Business Day prior to on the requested Borrowing Date, in the case of ABR Loans) (provided that any such notice of a borrowing of Revolving Loans that are ABR Loans to finance payments required by Section 3.5 may be given not later than 10:00 A.M., New York City time, on the date of the proposed borrowing), specifying (i) the amount and Type of Revolving Loans to be borrowed, (ii) the requested Borrowing Date and (iii) 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. Each borrowing under the Revolving Commitments shall be in an amount equal to (x) in the case of ABR Loans, $1,000,000 or a whole multiple thereof (or, if the then aggregate Available Revolving Commitments are less than $1,000,000, such lesser amount) and (y) in the case of Eurodollar Loans, $5,000,000 or a whole multiple of $1,000,000 in excess thereof; provided, that the Swingline Lender -------- may request, on behalf of the Borrower, borrowings under the Revolving Commitments that are ABR Loans in other amounts pursuant toto Section 2.

Appears in 1 contract

Samples: Credit Agreement (Hilfiger Tommy Corp)

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Procedure for Revolving Loan Borrowing. The Borrower may borrow ------------------------------------------ under the Revolving Commitments during the Initial Revolving Commitment Period on any Business Day, provided that the Borrower shall give the Administrative -------- Agent irrevocable notice (which notice must be received by the Administrative Agent prior to 12:00 Noon, New York City time Atlanta time, (a) three Business Days prior to the requested Borrowing Date, in the case of Eurodollar Loans, or (b) one Business Day prior to the requested Borrowing Date, in the case of ABR Loans) (provided that any such notice of a borrowing of Revolving Loans that are ABR Loans to finance payments required by Section 3.5 may be given not later than 10:00 A.M., New York City time, on the date of the proposed borrowing), specifying (i) the amount and Type of Revolving Loans to be borrowed, (ii) the requested Borrowing Date and (iii) 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. Each borrowing under the Revolving Commitments shall be in an amount equal to (x) in the case of ABR Loans, $1,000,000 3,000,000 or a whole multiple of $1,000,000 in excess thereof (or, if the then aggregate Available Revolving Commitments are less than $1,000,0003,000,000, such lesser amount) and (y) in the case of Eurodollar Loans, $5,000,000 or a whole multiple of $1,000,000 2,500,000 in excess thereof; provided, that the Swingline Lender may -------- request, on behalf of the Borrower, borrowings under the Revolving Commitments that are ABR Loans in other amounts pursuant toto Section 2.

Appears in 1 contract

Samples: Credit Agreement (Agl Resources Inc)

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