Procedure for Revolving Loan Borrowings. The Company, on behalf of the Borrowers, shall give the Administrative Agent a Notice of Borrowing with respect to each Revolving Loan Borrowing (x) prior to 11:00 a.m. (Eastern time) one (l) Business Day prior to the requested date of each Base Rate Borrowing or Index Rate Borrowing and (y) prior to 11:00 a.m. (Eastern time) three (3) Business Days prior to the requested date of each LIBOR Borrowing. Each Notice of Borrowing under this Section shall be irrevocable and shall specify: (i) the aggregate principal amount of such Revolving Loan Borrowing, (ii) the date of such Revolving Loan Borrowing (which shall be a Business Day), (iii) the Type of the Revolving Loans comprising such Borrowing, (iv) in the case of a LIBOR Borrowing, the duration of the initial Interest Period applicable thereto (subject to the provisions of the definition of Interest Period), and (v) at the option of the Administrative Agent, shall be accompanied by a current Borrowing Base Certificate and a current Aging Report. Subject to the provisions of Section 2.10(e), each Revolving Loan Borrowing shall consist entirely of Base Rate Loans, Index Rate Loans or LIBOR Loans, as the Company may request, provided, that on the Closing Date all Revolving Loans shall be Index Rate Loans. Promptly following the receipt of a Notice of Borrowing in accordance with this Section, the Administrative Agent shall advise each Revolving Credit Lender of the details thereof and the amount of such Revolving Credit Lender’s Revolving Loan to be made as part of the requested Revolving Loan Borrowing. If required by the Administrative Agent, any request made by telephone shall include all of the information required by a current Borrowing Base Certificate and a current Aging Report. Each Borrower appoints the Company as its agent to request and receive the proceeds of the Revolving Loans on behalf of all Borrowers. The Company agrees to distribute the proceeds of the Revolving Loans among the Borrowers when and as needed by the Borrowers for working capital. Revolving Loans may be requested by those individuals designated by the Company from time to time in written instruments delivered to the Administrative Agent; provided, however, that the Borrowers shall remain liable with respect to any Revolving Loan disbursed by any Lender in good faith hereunder, even if such Revolving Loan is requested by an individual who has not been so designated. The proceeds of each Revolving Loan will be credited to a deposi...
Procedure for Revolving Loan Borrowings. (a) The Borrower may irrevocably request a Borrowing of Revolving Loans on any Business Day in a Minimum Amount therefor by delivering a Request for Extension of Credit therefor by Requisite Notice to the Administrative Agent not later than the Requisite Time therefor. All Borrowings shall constitute Base Rate Loans unless properly and timely otherwise designated as set forth in the prior sentence. Each Competitive Loan shall be made in accordance with the procedures set forth in Section 2.07.
(b) Following receipt of a Request for Extension of Credit, the Administrative Agent shall promptly notify each Revolving Lender by Requisite Notice of its Revolving Percentage thereof. Each Revolving Lender shall make the funds for its Revolving Loan available to the Administrative Agent at the Administrative Agent’s Office not later than the Requisite Time therefor on the Business Day specified in such Request for Extension of Credit. Upon satisfaction of the applicable conditions set forth in Section 4.03, all funds so received shall be made available to the Borrower in like funds received.
(c) The failure of any Revolving Lender to make any Revolving Loan on any date shall not relieve any other Revolving Lender of any obligation to make a Revolving Loan on such date, but the Revolving Commitments and Competitive Bids of the Revolving Lenders are several and no Revolving Lender shall be responsible for the failure of any other Revolving Lender to so make its Revolving Loan.
Procedure for Revolving Loan Borrowings. The BORROWERS may borrow proceeds of the LOAN until (but not including) the MATURITY DATE, provided, that the BORROWERS deliver to the LENDER an irrevocable notice (which notice must be received by the LENDER prior to 10:00 a.m. Baltimore, Maryland time on the requested BORROWING DATE) specifying: (i) the amount to be borrowed, (ii) the requested BORROWING DATE, (iii) whether the borrowing is to be a LIBOR BORROWING, a BASE RATE BORROWING, or a combination thereof, and (iv) if the borrowing is to be entirely or partly a LIBOR BORROWING, the notice of election described in Section 2.2.2 of this AGREEMENT. The above-described notice may be delivered to the LENDER via facsimile or electronic mail, with telephone confirmation. Such borrowing will be made available to the BORROWERS on or prior to 1:00 p.m. Baltimore, Maryland time by the LENDER crediting the COMMERCIAL ACCOUNT. Each borrowing under the LOAN shall be in a principal amount of not less than the MINIMUM BORROWING AMOUNT.
Procedure for Revolving Loan Borrowings. Subject to the terms and conditions of this Agreement, the Borrower may borrow under the Revolving Commitments and/or under any Incremental Revolving Commitments comprising an Incremental Facility then in effect, in each case on any Business Day during the Revolving Commitment Period; provided that the Borrower shall give the Administrative Agent an irrevocable Notice of Borrowing, which Notice of Borrowing must be received by the Administrative Agent prior to 11:00 A.M., Dallas, Texas time, (i) three Business Days prior to the requested Borrowing Date, if all or any part of the requested Revolving Loans are to be initially Eurodollar Loans, or (ii) one Business Day prior to the requested Borrowing Date otherwise, specifying (A) the aggregate amount of the Borrowing,
Procedure for Revolving Loan Borrowings. (a) The Borrower shall give the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of each Revolving Borrowing, substantially in the form of Exhibit 2.3 attached hereto (a “Notice of Revolving Borrowing”), (x) prior to 12:00 p.m. (or such later time as the Administrative Agent may reasonably permit) on the requested date of each Base Rate Borrowing and (y) prior to 12:00 p.m. (or such later time as the Administrative Agent may reasonably permit) three (3) Business Days prior to the requested date of each Eurodollar Borrowing; provided that any Notice of Revolving Borrowing to be made on the Closing Date (whether a Eurocurrency Borrowing or Base Rate Borrowing) may be given not later than 12:00 p.m. (or such later time as the Administrative Agent may reasonably agree), one Business Day prior to the date of the proposed Borrowing, which notice may be subject to the effectiveness of the Credit Agreement. Each Notice of Revolving Borrowing shall be irrevocable (other than any Notice of Revolving Borrowing that states that such notice is conditioned upon the occurrence of one or more events specified therein) and shall specify (i) the aggregate principal amount of such Borrowing, (ii) the date of such Borrowing (which shall be a Business Day), (iii) the Type of such Revolving Loan comprising such Borrowing and (iv) in the case of a Eurodollar Borrowing, the duration of the initial Interest Period applicable thereto (subject to the provisions of the definition of Interest Period). Each Revolving Borrowing shall consist entirely of Base Rate Loans or Eurodollar Loans, as the Borrower may request. The aggregate principal amount of each Eurodollar Borrowing shall not be less than $500,000 or a larger multiple of $100,000, and the aggregate principal amount of each Base Rate Borrowing shall not be less than $250,000 or a larger multiple of $100,000 (or, in each case, such lesser amount (i) as agreed to by the Administrative Agent (which agreement shall not be unreasonably withheld, conditioned or delayed) or (ii) if such amount constitutes the remaining Aggregate Revolving Commitment Amount); provided that Base Rate Loans made pursuant to Section 2.4 or Section 2.22(d) may be made in lesser amounts as provided therein. Promptly following the receipt of a Notice of Revolving Borrowing in accordance herewith, the Administrative Agent shall advise each Lender of the details thereof and the amount of such Lender’s Revolving Loan to ...
Procedure for Revolving Loan Borrowings. Borrower may request to borrow under the Revolving Line of Credit on any Banking Day prior to the Revolving Credit Termination Date by giving Lender irrevocable notice prior to 12:30 p.m. (eastern standard time) on the Banking Day of the proposed borrowing date, specifying (a) the amount to be borrowed and (b) the requested borrowing date (which must be a Banking Day). Such notice may be by telephone (confirmed immediately in writing). Not later than 3:00 p.m. (eastern standard time) on the borrowing date specified in such notice, subject to the terms and conditions hereof, Lender shall make the amount of such Revolving Loan available to Borrower by depositing such amount in immediately available funds in the account of Borrower with Lender. Each borrowing under the Revolving Line of Credit shall be in a minimum amount of $50,000.
Procedure for Revolving Loan Borrowings. Borrower may request to borrow under the Revolving Line of Credit on any Banking Day prior to the Final Maturity Date by giving Lender a notice (a "Notice of Borrowing") prior to 11:00 a.m. (eastern standard time) no later than one Banking Day prior to the proposed borrowing date, in the case of a Base Rate Loan, and no later than three Banking Days prior to the proposed borrowing date, in the case of a Eurodollar Rate Loan; provided that a Revolving Loan requested to be made (or the rate of which is reset) within three months of the Final Maturity Date may only be made (or reset) as a Base Rate Loan. Each Notice of Borrowing shall be in substantially in the form of Exhibit C, specifying therein (a) the requested aggregate amount of such borrowing, (b) the requested borrowing date (which must be a Banking Day), (c) the type of Loan (i.e., Base Rate Loan or Eurodollar Rate Loan), and (d), in the case of a Eurodollar Loan, the applicable Interest Period; provided, that if no type of Loan is selected, the requested Revolving Loan shall be a Base Rate Loan. Each Notice of Borrowing shall be irrevocable and binding on Borrower. In respect of each Notice of Borrowing, subject to the terms and conditions of this Agreement, not later than 3:00 p.m. (eastern standard time) on the borrowing date specified in such Notice of Borrowing, Lender shall make the amount of such Revolving Loan specified in such Notice of Borrowing available to Borrower by depositing such amount in immediately available funds in the account of Borrower with Lender.
Procedure for Revolving Loan Borrowings. (a) The Borrower shall give the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of each Revolving Borrowing, substantially in the form of Exhibit 2.3 attached hereto (a “Notice of Revolving Borrowing”), (x) prior to 12:00 p.m. (or such later time as the Administrative Agent may reasonably permit) on the requested date of each Base Rate Borrowing and (y) prior to 12:00 p.m. (or such later time as the Administrative Agent may reasonably permit) three (3)
Procedure for Revolving Loan Borrowings. (a) Any Borrower (other than a Belgian Borrower or a Canadian Borrower) may request the Banks, any Belgian Borrower may request the Belgian Lending Bank and any Canadian Borrower may request the Canadian Lending Banks to make Revolving Loans on any Business Day during the Commitment Period by delivering a Notice of Revolving Borrowing. Each borrowing of Revolving Loans (other than pursuant to a Swing Line Loan refunding pursuant to Section 3.04) shall be in an amount equal to (i) in the case of Revolving Base Rate Loans, $5,000,000 or an integral multiple of $1,000,000 in excess thereof (or, if the then aggregate undrawn amount of the Commitments is less than $5,000,000, such lesser amount), (ii) in the case of Revolving Eurocurrency Loans (A) if in Dollars, $5,000,000 or an integral multiple of $1,000,000 in excess thereof, and (B) if in any Available Foreign Currency, an amount in such Available Foreign Currency of which the Dollar Equivalent Amount is at least $5,000,000, and (iii) in the case of Canadian Loans, an amount in Canadian Dollars of which the Dollar Equivalent Amount is at least $5,000,000.
(b) Upon receipt of a Notice of Revolving Borrowing from a Borrower, the Agent shall promptly:
(i) if such Notice of Revolving Borrowing is for Revolving Loans that are not Belgian Loans or Canadian Loans, notify each Bank of receipt of such Notice of Revolving Borrowing and of such Bank's Borrowing Percentage of the Revolving Loans to be made pursuant thereto;
(ii) if such Notice of Revolving Borrowing is for Revolving Loans that are Belgian Loans, notify each Bank of receipt of such Notice of Revolving Borrowing and, in the case of the Belgian Lending Bank, the amount of the Revolving Loan requested and, in the case of each other Bank, such Bank's Borrowing Percentage of such Revolving Loan; and
(iii) if such Notice of Revolving Borrowing is for Revolving Loans that are Canadian Loans, notify each Canadian Lending Bank of receipt of such Notice of Revolving Borrowing and of such Canadian Lending Bank's Canadian Borrowing Percentage of the Revolving Loans that are Canadian Loans to be made pursuant thereto.
(c) Subject to the terms and conditions hereof, (i) each Bank will make its Borrowing Percentage of each Borrowing that is not of Belgian Loans or Canadian Loans available to the Agent for the account of the Borrower at the applicable Funding Office, at or prior to the applicable Funding Time, for the Currency of such Loan in funds immediately availab...
Procedure for Revolving Loan Borrowings. The Borrower shall give the Lender written notice (or telephonic notice promptly confirmed in writing) of each Revolving Loan Borrowing substantially in the form of Exhibit 2.3 attached hereto (a "Notice of Revolving Borrowing") (x) prior to 11:00 a.m. one (1) Business Day prior to the requested date of each Daily One Month LIBOR Borrowing, and (y) prior to 11:00 a.m. three (3) Business Days prior to the requested date of each Eurodollar Borrowing. Each Notice of Revolving Borrowing shall be irrevocable and shall specify: (i) the aggregate principal amount of such Borrowing, (ii) the date of such Borrowing (which shall be a Business Day), (iii) the Type of such Loan comprising such Borrowing, and (iv) in the case of a Eurodollar Borrowing, the duration of the initial Interest Period applicable thereto (subject to the provisions of the definition of Interest Period). Each Revolving Loan Borrowing shall consist entirely of Daily One Month LIBOR Loans or Eurodollar Loans, as the Borrower may request. The aggregate principal amount of each Eurodollar Borrowing and each Daily One Month LIBOR Borrowing shall be not less than $100,000.00 or a larger multiple of $50,000.00. At no time shall the total number of outstanding Revolving Loan Borrowings which consist of Eurodollar Borrowings exceed seven (7). If Borrower subscribes to Bank's cash management services and such services are applicable to the Revolving Loans, the terms of such service shall control the manner in which funds are transferred between the applicable demand deposit account and the Revolving Loan for credit or debit to the Revolving Loan.
