Common use of Procedures Concerning the Making of Loans Clause in Contracts

Procedures Concerning the Making of Loans. Following receipt of a Loan Notice, Administrative Agent will promptly notify each applicable Lender of the amount of its applicable Percentage Share of the requested Borrowing. If the Borrowers (including through the Administrative Borrower) do not timely provide notice of a conversion or continuation, then Administrative Agent will notify each applicable Lender of the details of any automatic conversion to Base Rate Loans described in the preceding subsection. Each Lender will make the amount of its applicable Loan available to Administrative Agent in immediately available funds at Administrative Agent’s Office (or, at the request of Administrative Agent, in the case of a Eurodollar Rate denominated in an Alternative Currency, at such bank as Administrative Agent may designate to the Lenders, as applicable) not later than 10:00 a.m. on the Business Day specified in the applicable Loan Notice. Upon satisfaction of the applicable conditions set forth in Section 4.02 (and, if such Borrowing is the initial Credit Extension, Section 4.01), Administrative Agent will make all funds so received available to the Borrowers in like funds as received by Administrative Agent either by: (i) crediting the account of the Borrowers on the books of Xxxxx Fargo with the amount of such funds; or (ii) wire transfer of such funds, in each case in accordance with instructions provided to (and reasonably acceptable to) Administrative Agent by the Administrative Borrower on behalf of the Borrowers; provided that, if, on the date the Loan Notice with respect to such Borrowing is given by the Borrowers, there are L/C Borrowings outstanding, then the proceeds of such Borrowing will be applied, first, to the payment in full of any such L/C Borrowings and, second, to the Borrowers as provided in this Section 2.03(d).

Procedures Concerning the Making of Loans. Following receipt of a Loan Notice, Administrative Agent will shall promptly notify each applicable Lender of the amount of its applicable Applicable Percentage Share of the requested BorrowingBorrowings. If the Borrowers (including through the Administrative Borrower) do Borrower does not timely provide notice of a conversion or continuation, then Administrative Agent will shall notify each applicable Lender of the details of any automatic conversion to Base Rate Loans described in the preceding subsection. Each Lender will shall make the amount of its applicable Loan available to Administrative Agent in immediately available funds at Administrative Agent’s Office (or, at the request of Administrative Agent, in the case of a Eurodollar Rate denominated in an Alternative Currency, at such bank as Administrative Agent may designate to the Lenders, as applicable) not later than 10:00 a.m. 1:00 p.m. on the Business Day specified in the applicable Loan Notice. Upon satisfaction of the applicable conditions set forth in Section 4.02 (and, if such Borrowing is the initial Credit Extension, Section 4.01), Administrative Agent will shall make all funds so received available to the Borrowers Borrower in like funds as received by Administrative Agent either by: (i) crediting the account of the Borrowers Borrower on the books of Xxxxx Fargo with the amount of such funds; or (ii) wire transfer of such funds, in each case in accordance with instructions provided to (and reasonably acceptable to) Administrative Agent by the Administrative Borrower on behalf of the BorrowersBorrower; provided that, if, on the date the Loan Notice with respect to such Borrowing is given by the BorrowersBorrower, there are L/C Borrowings outstanding, then the proceeds of such Borrowing will shall be applied, first, to the payment in full of any such L/C Borrowings and, second, to the Borrowers Borrower as provided in this Section 2.03(d)subsection.