Request for Acceptance as Borrowing Base Property Sample Clauses

Request for Acceptance as Borrowing Base Property. The Administrative Borrower shall provide the Administrative Agent (with copies for each Lender) with a written request for a Property to be accepted as a Borrowing Base Property. Such request shall be accompanied by a copy of all documents, materials and other information to be presented to the Administrative Borrower’s investment committee regarding such Property and a Borrowing Base Property Compliance Certificate for such Property (such documents, materials, other information and such Borrowing Base Property Compliance Certificate, the “Investment Package”). The Administrative Agent shall endeavor to advise the Administrative Borrower within three (3) Business Days after receiving the Investment Package, whether such Property satisfies the minimum requirements for the Administrative Agent to consider accepting such Property as a Borrowing Base Property. If the Administrative Agent shall have not so advised the Administrative Borrower within such three (3) Business Day period, then such Property will be deemed to have not satisfied such minimum requirements. Within ten (10) Business Days after the Administrative Agent receives the Investment Package, the Administrative Agent shall advise the Administrative Borrower whether such Property has been approved by the Administrative Agent for acceptance as a Borrowing Base Property. If the Administrative Agent shall not so advise the Administrative Borrower within such ten (10) Business Day period, then such Property shall be deemed to have not been approved by the Administrative Agent. Notwithstanding any such approval of any Property, the acceptance of any Property as a Borrowing Base Property shall be subject to the fulfillment, to the Administrative Agent’s satisfaction, of all of the conditions set forth in this Section 4.03. Anything herein to the contrary notwithstanding, the Administrative Agent’s acceptance of any Property as a Borrowing Base Property shall be in the Administrative Agent’s sole and absolute discretion.
Sample 1
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Related to Request for Acceptance as Borrowing Base Property

  • Initial Borrowing Base For the period from and including the Closing Date to but excluding the first Redetermination Date, the amount of the Borrowing Base shall be $2,250,000,000. Notwithstanding the foregoing, the Borrowing Base may be subject to further adjustments from time to time pursuant to Section 2.14(e), (f) and (g).

  • Determination of Borrowing Base The Borrowing Base at any time shall be determined by reference to the most recent Borrowing Base Certificate and Monthly Servicing Report delivered to the Administrative Agent.

  • Calculation of Borrowing Base For purposes of this Agreement, the “Borrowing Base” shall be determined, as at any date of determination, as the sum of the products obtained by multiplying (x) the Value of each Eligible Portfolio Investment by (y) the applicable Advance Rate; provided that:

  • Borrowing Base If, at any time, (A) the Revolver Usage on such date exceeds (B) the lesser of (x) the Borrowing Base reflected in the Borrowing Base Certificate most recently delivered by Borrowers to Agent, or (y) the Maximum Revolver Amount, in all cases as adjusted for Reserves established by Agent in accordance with Section 2.1(c), then Borrowers shall immediately prepay the Obligations in accordance with Section 2.4(f)(i) in an aggregate amount equal to the amount of such excess.

  • Borrowing/Election Notice The Borrower shall give the Administrative Agent an irrevocable Borrowing/Election Notice of each conversion of a Floating Rate Loan into a Eurodollar Rate Loan or continuation of a Eurodollar Rate Loan not later than 11:00 a.m. (Chicago time) three (3) Business Days prior to the date of the requested conversion or continuation, specifying: (i) the requested date (which shall be a Business Day) of such conversion or continuation; (ii) the amount and Type of the Loan to be converted or continued; and (iii) the amount of Eurodollar Rate Loan(s) into which such Loan is to be converted or continued, and the duration of the Interest Period applicable thereto.

  • Content of Borrowing Requests Each telephonic and written Borrowing Request shall specify the following information in compliance with Section 2.02:

  • Notice of Borrowing The Borrower shall request a Revolving Loan borrowing by written notice (or telephonic notice promptly confirmed in writing) to the Agent not later than 11:00 A.M. (Charlotte, North Carolina time) on the Business Day prior to the date of the requested borrowing in the case of Base Rate Loans, and on the third Business Day prior to the date of the requested borrowing in the case of Eurodollar Loans. Each such request for borrowing shall be irrevocable and shall specify (A) that a Revolving Loan is requested, (B) the date of the requested borrowing (which shall be a Business Day), (C) the aggregate principal amount to be borrowed, and (D) whether the borrowing shall be comprised of Base Rate Loans, Eurodollar Loans or a combination thereof, and if Eurodollar Loans are requested, the Interest Period(s) therefor. If the Borrower shall fail to specify in any such Notice of Borrowing (I) an applicable Interest Period in the case of a Eurodollar Loan, then such notice shall be deemed to be a request for an Interest Period of one month, or (II) the type of Revolving Loan requested, then such notice shall be deemed to be a request for a Base Rate Loan hereunder. The Agent shall give notice to each affected Lender promptly upon receipt of each Notice of Borrowing pursuant to this Section 2.1(b)(i), the contents thereof and each such Lender’s share of any borrowing to be made pursuant thereto.

  • Initial Borrowing Before or concurrently with the initial Borrowing:

  • Notice of Borrowing; Letter of Credit Request (a) Prior to the making of each Loan (other than a Swingline Loan or a Revolving Loan made pursuant to a Mandatory Borrowing), the Administrative Agent shall have received a Notice of Borrowing meeting the requirements of Section 2.03(a). Prior to the making of each Swingline Loan, the Swingline Lender shall have received the notice referred to in Section 2.03(b)(i).

  • Borrowing Notice The Borrower shall deliver to the Agent and the Swing Line Lender irrevocable notice (a "Swing Line Borrowing Notice") not later than noon (Chicago time) on the Borrowing Date of each Swing Line Loan, specifying (i) the applicable Borrowing Date (which date shall be a Business Day), and (ii) the aggregate amount of the requested Swing Line Loan which shall be an amount not less than $100,000. The Swing Line Loans shall bear interest at the Floating Rate.

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