Request for Borrowings. The Borrower shall notify the Administrative Agent of its request for the Borrowing on the Effective Date by written notice, (a) in the case of a Eurodollar Borrowing, not later than 1:00 p.m., New York time, three Business Days before the date of the proposed Borrowing (or such shorter period of time as may be agreed to by the Required Lenders), or (b) in the case of an ABR Borrowing, not later than 1:00 p.m., New York City time, one Business Day before the date of the proposed Borrowing. The Borrowing Request shall be irrevocable and shall specify the following information: (i) the aggregate amount of such Borrowing; (ii) the date of such Borrowing, which shall be a Business Day; (iii) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing; (iv) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”; and (v) the location and number of the Borrower’s account or such other account or accounts to which funds are to be disbursed, which shall comply with the requirements of Section 2.04. Promptly following receipt of the Borrowing Request in accordance with this Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.
Appears in 2 contracts
Samples: Credit Agreement (PDL Biopharma, Inc.), Credit Agreement (PDL Biopharma, Inc.)
Request for Borrowings. The (a) To request a Borrowing of Term Loans, the Borrower shall notify the Administrative Agent of its such request for the Borrowing on the Effective Date in writing, which request must be received by written notice, (a) in the case of a Eurodollar Borrowing, Administrative Agent not later than 1:00 p.m., New York City time, three two (2) Business Days before the date of the proposed Borrowing (or such shorter period of time as may be agreed to by the Required LendersAdministrative Agent in its sole discretion), or (b) in the case of an ABR Borrowing, not later than 1:00 p.m., New York City time, one Business Day before the date of the proposed Borrowing. The Each such Borrowing Request shall be irrevocable and shall be in the form attached hereto as Exhibit A and signed by the Borrower. Each Borrowing Request shall specify the following information:
(i) the aggregate amount of such the requested Borrowing;
(ii) the date of such Borrowing, which shall be a Business Day;
(iii) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(iv) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable theretothereto which, which shall be a period contemplated by except as set forth in the definition of the term “Interest Period”, shall be an interest period of one month’s duration (including specifying the first day and the last day of such Interest Period); and
(viv) the location and number of the a Borrower’s account or such other account or accounts Account to which funds are to be disbursed, which Account shall be a Controlled Account and comply with the requirements of Section 2.042.06. If no Interest Period is specified with respect to any requested Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. Promptly following receipt of the a Borrowing Request in accordance with this Section, the Administrative Agent shall advise each Lender that will make a Loan in connection with such Borrowing of the details thereof and of the amount of such LenderLxxxxx’s Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Samples: Term Loan Credit Agreement (RVL Pharmaceuticals PLC)
Request for Borrowings. The To request one or more Borrowings for funding on the Funding Date, the Borrower shall notify the Administrative Agent of its such request for the Borrowing on the Effective Date by written notice, telephone (a) in the case of a Eurodollar Borrowing, not later than 1:00 p.m., New York City time, three Business Days before the date of the proposed Borrowing (or such shorter period of time as may be agreed to by the Required Lenders)Funding Date, or (b) in the case of an ABR Borrowing, not later than 1:00 p.m., New York City time, one Business Day before the date of the proposed BorrowingFunding Date. The Such telephonic Borrowing Request shall be irrevocable and shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written Borrowing Request in a form approved by the Administrative Agent and signed by the Borrower. Such telephonic and written Borrowing Request shall specify the following informationinformation in compliance with Section 2.02:
(i) the aggregate amount of such each requested Borrowing;
(ii) the date of such Borrowing, which shall be a Business DayDay and shall be the Funding Date;
(iii) whether such requested Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;; and
(iv) in the case of a requested Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period.”; and
(v) the location and number of the Borrower’s account or such other account or accounts to which funds are to be disbursed, which shall comply with the requirements of Section 2.04. Promptly following receipt of the Borrowing Request in accordance with this Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Samples: Loan Agreement (Global Payments Inc)