Common use of Procedures for Advances Clause in Contracts

Procedures for Advances. In the case of advances of Ratable Loans hereunder, Borrower shall submit to Administrative Agent a request for each advance, stating the amount requested and certifying the purpose, in general terms, for which such advance is to be used, no later than 11:00 a.m. (New York time) on the date, in the case of advances of Base Rate Loans, which is one (1) Banking Day, and, in the case of advances of LIBOR Loans, which is three (3) Banking Days, prior to the date the advance is to be made. In the case of advances of Swing Loans hereunder, Borrower shall submit to Administrative Agent a request for such advance, stating the amount requested and certifying the purpose, in general terms, for which such advance is to be used, no later than 11:00 a.m. (New York time) on the date on which the advance is to be made. In the case of advances of Bid Rate Loans hereunder, Borrower shall submit a Bid Rate Quote Request at the time specified in Section 2.02, accompanied by a certification of the purpose, in general terms, for which the advance is to be used. Administrative Agent, on the Banking Day of its receipt and approval of the request for advance, will so notify the Banks (or, in the case of Swing Loans, the Swing Lender) either by telephone or by facsimile. Not later than 11:00 a.m. (New York time) (or 2:00 p.m. (New York time) in the case of Swing Loans) on the date of each advance, each Bank (in the case of Ratable Loans) or the applicable Bank(s) (in the case of Bid Rate Loans) or the Swing Lender (in the case of Swing Loans) shall, through its Applicable Lending Office and subject to the conditions of this Agreement, make the amount to be advanced by it on such day available to Administrative Agent, at Administrative Agent’s Office and in immediately available funds for the account of Borrower. The amount of the advance requested by the Borrower (or, if less, the portion of such requested amount that shall have been paid to the Administrative Agent by the Banks in accordance with the terms hereof) shall, subject to the conditions of this Agreement, be made available to Borrower, in immediately available funds, by Administrative Agent’s crediting an account of Borrower designated by Borrower and maintained with Administrative Agent at Administrative Agent’s Office.

Appears in 1 contract

Samples: Revolving Loan Agreement (Avalonbay Communities Inc)

AutoNDA by SimpleDocs

Procedures for Advances. In the case of advances of Ratable Loans hereunderLoans, Borrower shall submit to Administrative Agent a request for each advance, stating the amount requested and certifying the purpose, in general terms, expected purpose for which such advance is to be used, no later than 11:00 a.m. (New York time) on the date, in the case of advances of Base Rate Loans and LIBOR Daily Loans, which is one (1) Banking Daythe proposed date of such Base Rate Loan or LIBOR Daily Loan, and, in the case of advances of LIBOR Loans, which is three (3) Banking Days, prior to the date the such advance is to be made. In ; provided that if the case of advances of Swing Loans hereunderClosing Date occurs on March 26, 2019, March 27, 2019 or March 28, 2019, the Borrower shall may submit to Administrative Agent a request on the Closing Date for such advance, stating the amount requested and certifying the purpose, in general terms, for which such an advance is of LIBOR Loans to be usedmade on March 28, no later than 11:00 a.m. (New York time) on the date on which the advance is to be made2019. In the case of advances of Bid Rate Loans hereunderLoans, Borrower shall submit a Bid Rate Quote Request at the time specified in Section 2.02, accompanied by a certification of the purpose, in general terms, for which the advance is to be used. Administrative Agent, on the Banking Day of upon its receipt and approval of the request for advance, will so notify the Banks (or, in the case of Swing Loans, the Swing Lender) either by telephone or by facsimile. Not later than 11:00 11:30 a.m. (New York time) on the date of each advance (or 2:00 1:00 p.m. (New York time) in the case of Swing Loans) a Base Rate Loan or a LIBOR Daily Loan for which the Borrower has made a Loan request on the date of each advancesuch date), each Bank (in the case of Ratable Loans) or the applicable Bank(s) Banks (in the case of Bid Rate Loans) or the Swing Lender (in the case of Swing Loans) shall, through its Applicable Lending Office and subject to the conditions of this Agreement, make the amount to be advanced by it on such day available to Administrative Agent, at Administrative Agent’s Office and in immediately available funds for the account of Borrower. The amount of the advance requested so received by the Borrower (or, if less, the portion of such requested amount that shall have been paid to the Administrative Agent by the Banks in accordance with the terms hereof) shall, subject to the conditions of this Agreement, be made available to Borrower, in immediately available funds, by Administrative Agent’s crediting to an account of Borrower designated by Borrower and maintained with Administrative Agent at Administrative Agent’s OfficeBorrower.

Appears in 1 contract

Samples: Revolving Credit Agreement (Vornado Realty Lp)

Procedures for Advances. In the case of advances of Ratable Loans hereunder, Borrower shall submit to Administrative Agent a request for each advance, stating the amount requested and certifying the purpose, in general termsreasonable detail, for which such advance is to be used, no later than 11:00 a.m. (New York time) on the date, in the case of advances of Base Rate Loans, which is one (1) Banking Day, and, in the case of advances of LIBOR Loans, which is three (3) Banking Days, prior to the date the advance is to be made. In the case of advances of Swing Loans hereunder, Borrower shall submit to Administrative Agent a request for such advance, stating the amount requested and certifying the purpose, in general terms, for which such advance is to be used, no later than 11:00 a.m. (New York time) on the date on which the advance is to be made. In the case of advances of Bid Rate Loans hereunder, Borrower shall submit a Bid Rate Quote Request at the time specified in Section 2.02, accompanied by a certification of the purpose, in general terms, purpose for which the advance is to be used. Administrative Agent, on the Banking Day of upon its receipt and approval of the request for advance, will so notify the Banks (or, in the case of Swing Loans, the Swing Lender) either by telephone or by facsimile. Not later than 11:00 a.m. (New York time) (or 2:00 p.m. (New York time) in the case of Swing Loans) on the date of each advance, each Bank (in the case of Ratable Loans) or the applicable Bank(s) (in the case of Bid Rate Loans) or the Swing Lender (in the case of Swing Loans) shall, through its Applicable Lending Office and subject to the conditions of this Agreement, make the amount to be advanced by it on such day available to Administrative Agent, at Administrative Agent’s 's Office and in immediately available funds for the account of Borrower. The amount of the advance requested so received by the Borrower (or, if less, the portion of such requested amount that shall have been paid to the Administrative Agent by the Banks in accordance with the terms hereof) shall, subject to the conditions of this Agreement, be made available to Borrower, in immediately available funds, by Administrative Agent’s 's crediting an account of Borrower designated by Borrower and maintained with Administrative Agent at Administrative Agent’s 's Office.

Appears in 1 contract

Samples: Revolving Loan Agreement (Bay Apartment Communities Inc)

Procedures for Advances. In the case of All advances of Ratable Loans hereunder, to Borrower are to ----------------------- be made at Administrative Agent's Office. Borrower shall submit Requisitions to Administrative Agent a request for each advance, stating the amount requested and certifying the purpose, in general terms, for which such advance is to be used, no later than 11:00 10:00 a.m. (New York time) on the date, in the case of advances of Base Rate Loans, date which is one seven (17) Banking Day, and, in the case of advances of LIBOR Loans, which is three (3) Banking Days, Business Days prior to the date the advance is to be made. In Administrative Agent, no later than four (4) Business Days prior to the case of advances of Swing Loans hereunder, Borrower shall submit to Administrative Agent date a request for such advance, stating the amount requested and certifying the purpose, in general terms, for which such advance is to be usedmade, no shall (i) notify each Lender either by telephone or by facsimile of the amount requested by Borrower, the amount approved by Administrative Agent, the portion of such advance to be funded by such Lender and the proposed date of such advance and (ii) send to each Lender by facsimile the summary pages of Borrower's Requisition (without attachments except for the Direct and Indirect Cost Statement). Not later than 11:00 10:00 a.m. (New York time) on the date on which the advance is to be made. In the case of advances of Bid Rate Loans hereunder, Borrower shall submit a Bid Rate Quote Request at the time specified in Section 2.02, accompanied by a certification of the purpose, in general terms, for which the advance is to be used. Administrative Agent, on the Banking Day of its receipt and approval of the request for advance, will so notify the Banks (or, in the case of Swing Loans, the Swing Lender) either by telephone or by facsimile. Not later than 11:00 a.m. (New York time) (or 2:00 p.m. (New York time) in the case of Swing Loans) on the date of each advance, each Bank (in the case of Ratable Loans) or the applicable Bank(s) (in the case of Bid Rate Loans) or the Swing Lender (in the case of Swing Loans) shall, through its Applicable Lending Office and subject to the conditions of this Agreement, make the amount to be advanced by it on such day available to Administrative Agent, at Administrative Agent’s 's Office and in immediately available funds for the account of Borrowerfunds. The amount of the advance requested so received by the Borrower (or, if less, the portion of such requested amount that shall have been paid to the Administrative Agent by the Banks in accordance with the terms hereof) shall, subject to the conditions of this Agreement, be made available to Borrower, in immediately available funds, by Administrative Agent’s crediting 's depositing said amount into the Building Loan Trust Account. Subsequent to the making of an account of Borrower designated by Borrower and maintained with advance, Administrative Agent at Administrative Agent’s Officeshall deliver to a Lender, within five (5) Business Days of such Lender's request, such material relating to the Requisition for such advance as such Lender may reasonably request.

Appears in 1 contract

Samples: Building Loan Agreement (Federal Realty Investment Trust)

Procedures for Advances. In the case of All advances of Ratable Loans hereunder, to Borrower are to be made at Administrative Agent's Office. Borrower shall submit Requisitions to Administrative Agent a request for each advance, stating the amount requested and certifying the purpose, in general terms, for which such advance is to be used, no later than 11:00 10:00 a.m. (New York Pittsburgh time) on the date, in the case of advances of Base Rate Loans, date which is one seven (17) Banking Day, and, in the case of advances of LIBOR Loans, which is three (3) Banking Days, Business Days prior to the date the advance is to be made. In the case of advances of Swing Loans hereunder, Borrower shall submit to Administrative Agent a request for such advance, stating the amount requested and certifying the purpose, in general terms, for which such advance is to be usedAgent, no later than 11:00 a.m. three (New York time3) on Business Days prior to the date on which the a requested advance is to be made. In the case of advances of Bid Rate Loans hereunder, Borrower shall submit a Bid Rate Quote Request at the time specified in Section 2.02, accompanied by a certification of the purpose, in general terms, for which the advance is to be used. Administrative Agent, on the Banking Day of its receipt and approval of the request for advance, will so (i) notify the Banks (or, in the case of Swing Loans, the Swing Lender) each Lender either by telephone or by facsimilefacsimile of the amount requested by Borrower, the amount approved by Administrative Agent, the portion of such advance to be funded by such Lender and the proposed date of such advance and (ii) send to each Lender by facsimile the summary pages of Borrower's Requisition (without attachments except for the Direct and Indirect Cost Statements). Not later than 11:00 10:00 a.m. (New York Pittsburgh time) (or 2:00 p.m. (New York time) in the case of Swing Loans) on the date of each advance, each Bank (in the case of Ratable Loans) or the applicable Bank(s) (in the case of Bid Rate Loans) or the Swing Lender (in the case of Swing Loans) shall, through its Applicable Lending Office and subject to the conditions of this Agreement, make the amount to be advanced by it on such day available to Administrative Agent, at Administrative Agent’s 's Office and in immediately available funds for the account of Borrowerfunds. The amount of the advance requested so received by the Borrower (or, if less, the portion of such requested amount that shall have been paid to the Administrative Agent by the Banks in accordance with the terms hereof) shall, subject to the conditions of this Agreement, be made available to Borrower, in immediately available funds, by Administrative Agent’s crediting an account of Borrower designated by Borrower and maintained with Administrative Agent at Administrative Agent’s Office's wiring said amount to the Building Loan Trust Account.

Appears in 1 contract

Samples: Building Loan Agreement (Taubman Centers Inc)

Procedures for Advances. In the case of advances of Ratable Loans hereunder, Borrower shall submit to Administrative Agent a request for each advanceadvance hereunder, in the form of EXHIBIT G, stating the amount requested and certifying the purpose, in general terms, purpose for which such advance is to be used, no later than 11:00 a.m. 12:00 Noon (New York Chicago time) on the date, date (x) in the case of advances of Base Rate Loans, which is one (1) Banking Day, and, in the case of advances of LIBOR Loans, which is three (3) Banking Days, and (y) in the case of Base Rate Loans, one (1) Banking Day prior to the date the advance is to be made. In the case of advances of Swing Loans hereunder, Borrower shall submit to Administrative Agent a request for such advance, stating the amount requested and certifying the purpose, in general terms, for which such advance is to be used, no later than 11:00 a.m. (New York time) on the date on which the advance is to be made. In the case of advances of Bid Rate Loans hereunder, Borrower shall submit a Bid Rate Quote Request at the time specified in Section 2.02, accompanied by a certification of the purpose, in general terms, for which the advance is to be used. Administrative Agent, on the Banking Day of upon its receipt and approval of the request requisite documents for the advance, will so notify the Banks (or, in the case of Swing Loans, the Swing Lender) either by telephone or by facsimile. Not later than 11:00 10:00 a.m. (New York Chicago time) (or 2:00 p.m. (New York time) in the case of Swing Loans) on the date of each advance, each Bank (in the case of Ratable Loans) or the applicable Bank(s) (in the case of Bid Rate Loans) or the Swing Lender (in the case of Swing Loans) shall, through its Applicable Lending Office and subject to the conditions of this Agreement, make the amount to be advanced by it on such day available to Administrative Agent, at Administrative Agent’s 's Office and in immediately available funds for the account of Borrower. The amount of the advance requested so received by the Borrower (or, if less, the portion of such requested amount that shall have been paid to the Administrative Agent by the Banks in accordance with the terms hereof) shall, subject to the conditions of this Agreement, be made available to Borrower, in immediately available funds, by Administrative Agent’s 's either, at Borrower's option, crediting an account of Borrower designated by Borrower and maintained with Administrative Agent at Administrative Agent’s Office's Office or wiring said amount to another account of Borrower designated by it in its request for advance.

Appears in 1 contract

Samples: Secured Revolving Credit Agreement (Taubman Centers Inc)

AutoNDA by SimpleDocs

Procedures for Advances. In the case of advances of Ratable Loans hereunder, Each Borrower requesting an advance shall submit to Administrative Agent a request for each advanceadvance hereunder, in the form of EXHIBIT G‑1 for Dolphin LLC, EXHIBIT G‑2 for Fairlane LLC and EXHIBIT G‑3 for TOLLC, stating the amount requested by such Borrower and certifying the purpose, in general terms, purpose for which such advance is to be used, no later than 11:00 a.m. 12:00 Noon (New York time) on the date, date (x) in the case of advances of Base Rate Loans, which is one (1) Banking Day, and, in the case of advances of LIBOR Loans, which is three (3) Banking Days, and (y) in the case of Base Rate Loans, one (1) Banking Day prior to the date the advance is to be made. In the case of advances of Swing Loans hereunder, Borrower shall submit to Administrative Agent a request for such advance, stating the amount requested and certifying the purpose, in general terms, for which such advance is to be used, no later than 11:00 a.m. (New York time) on the date on which the advance is to be made. In the case of advances of Bid Rate Loans hereunder, Borrower shall submit a Bid Rate Quote Request at the time specified in Section 2.02, accompanied by a certification of the purpose, in general terms, for which the advance is to be used. Administrative Agent, on the Banking Day of upon its receipt and approval of the request requisite documents for the advance, will so notify the Banks (or, in the case of Swing Loans, the Swing Lender) either by telephone or by facsimile. Not later than 11:00 a.m. (New York time) (or 2:00 p.m. (New York time) in the case of Swing Loans) on the date of each advance, each Bank (in the case of Ratable Loans) or the applicable Bank(s) (in the case of Bid Rate Loans) or the Swing Lender (in the case of Swing Loans) shall, through its Applicable Lending Office and subject to the conditions of this Agreement, make the amount to be advanced by it on such day available to Administrative Agent, at Administrative Agent’s Office and in immediately available funds for the account of the applicable Borrower. The amount of the advance requested so received by the Borrower (or, if less, the portion of such requested amount that shall have been paid to the Administrative Agent by the Banks in accordance with the terms hereof) shall, subject to the conditions of this Agreement, be made available to the applicable Borrower, in immediately available funds, by Administrative Agent’s either, at the applicable Borrower’s option, crediting an account of the applicable Borrower designated by such Borrower and maintained with Administrative Agent at Administrative Agent’s OfficeOffice or wiring said amount to another account of Borrower designated by it in its request for advance.

Appears in 1 contract

Samples: Secured Revolving Credit Agreement (Taubman Centers Inc)

Procedures for Advances. In the case of advances of Ratable Loans hereunderLoans, Borrower shall submit to Administrative Agent a request for each advance, stating signed by an authorized officer of the Borrower (provided that if such request is submitted through an Approved Borrower Portal, such signature requirement may be waived at the sole discretion of the Administrative Agent), stating the type and date of such advance (and Interest Period, if a Term Benchmark Loan), the amount requested and certifying the purpose, in general terms, expected purpose for which such advance is to be used, no later than 11:00 a.m. (New York time) on the date, in the case of advances of Base Rate Loans and RFR Loans, which is one (1) Banking Daythe proposed date of such Base Rate Loan or RFR Loan, and, in the case of advances of LIBOR Term Benchmark Loans, which is three (3) Banking Days, prior to the date the such advance is to be made. In the case of advances of Swing Loans hereunder, Borrower shall submit to Administrative Agent a request for such advance, stating the amount requested and certifying the purpose, in general terms, for which such advance is to be used, no later than 11:00 a.m. (New York time) on the date on which the advance is to be made. In the case of advances of Bid Rate Loans hereunder, Borrower shall submit a Bid Rate Quote Request at the time specified in Section 2.02, accompanied by a certification of the purpose, in general terms, for which the advance is to be used. Administrative Agent, on the Banking Day of upon its receipt and approval of the request for advance, will so notify the Banks (or, in the case of Swing Loans, the Swing Lender) either by telephone or by facsimileBanks. Not later than 11:00 a.m. 11:30 a.m12:00 p.m. (New York time) on the date of each advance (or 2:00 1:00 p.m. (New York time) in the case of Swing Loans) a Base Rate Loan or a RFR Loan for which the Borrower has made a Loan request on the date of each advancesuch date), each Bank (in the case of Ratable Loans) or the applicable Bank(s) (in the case of Bid Rate Loans) or the Swing Lender (in the case of Swing Loans) shall, through its Applicable Lending Office and subject to the conditions of this Agreement, make the amount to be advanced by it on such day available to Administrative Agent, at Administrative Agent’s Office and in immediately available funds for the account of Borrower. The amount of the advance requested so received by the Borrower (or, if less, the portion of such requested amount that shall have been paid to the Administrative Agent by the Banks in accordance with the terms hereof) shall, subject to the conditions of this Agreement, be made available to Borrower, in immediately available funds, by Administrative Agent’s crediting to an account of Borrower designated by Borrower and maintained with Administrative Agent at Administrative Agent’s OfficeXxxxxxxx.

Appears in 1 contract

Samples: Revolving Credit Agreement (Vornado Realty Lp)

Procedures for Advances. In the case of advances of Ratable Loans hereunderLoans, Borrower shall submit to Administrative Agent a request for each advanceadvance signed by an authorized officer of the Borrower (provided that if such request is submitted through an Approved Borrower Portal, such signature requirement may be waived at the sole discretion of the Administrative Agent), stating the type and date of such advance (and Interest Period, if a Term Benchmark Loan), the amount requested and certifying the purpose, in general terms, expected purpose for which such advance is to be used, no later than 11:00 a.m. (New York time) on the date, in the case of advances of Base Rate Loans and RFR Loans, which is one (1) Banking Daythe proposed date of such Base Rate Loan or RFR Loan, and, in the case of advances of LIBOR Term Benchmark Loans, which is three (3) Banking Days, prior to the date the such advance is to be made. In the case of advances of Swing Loans hereunder, Borrower shall submit to Administrative Agent a request for such advance, stating the amount requested and certifying the purpose, in general terms, for which such advance is to be used, no later than 11:00 a.m. (New York time) on the date on which the advance is to be made. In the case of advances of Bid Rate Loans hereunder, Borrower shall submit a Bid Rate Quote Request at the time specified in Section 2.02, accompanied by a certification of the purpose, in general terms, for which the advance is to be used. Administrative Agent, on the Banking Day of upon its receipt and approval of the request for advance, will so notify the Banks (or, in the case of Swing Loans, the Swing Lender) either by telephone or by facsimileBanks. Not later than 11:00 a.m. 12:00 p.m. (New York time) on the date of each advance (or 2:00 1:00 p.m. (New York time) in the case of Swing Loans) a Base Rate Loan or a RFR Loan for which the Borrower has made a Loan request on the date of each advancesuch date), each Bank (in the case of Ratable Loans) or the applicable Bank(s) (in the case of Bid Rate Loans) or the Swing Lender (in the case of Swing Loans) shall, through its Applicable Lending Office and subject to the conditions of this Agreement, make the amount to be advanced by it on such day available to Administrative Agent, at Administrative Agent’s Office and in immediately available funds for the account of Borrower. The amount of the advance requested so received by the Borrower (or, if less, the portion of such requested amount that shall have been paid to the Administrative Agent by the Banks in accordance with the terms hereof) shall, subject to the conditions of this Agreement, be made available to Borrower, in immediately available funds, by Administrative Agent’s crediting to an account of Borrower designated by Borrower and maintained with Administrative Agent at Administrative Agent’s OfficeXxxxxxxx.

Appears in 1 contract

Samples: Revolving Credit Agreement (Vornado Realty Lp)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!