Request for Working Capital Loans Sample Clauses
The 'Request for Working Capital Loans' clause outlines the process by which a borrower can formally request short-term financing from a lender to cover day-to-day operational expenses. Typically, this clause specifies the required documentation, notice period, and any conditions that must be met before a loan request is considered, such as providing financial statements or demonstrating a specific need for funds. Its core function is to establish a clear and standardized procedure for accessing working capital, thereby ensuring both parties understand the requirements and reducing the risk of misunderstandings or delays in funding.
Request for Working Capital Loans. Each request for a Borrowing of Working Capital Loans shall be made in writing by the Borrower Representative to the Administrative Agent not later than 11:00 a.m. on (x) the third Business Day prior to the date of the proposed Borrowing if the proposed Borrowing is equal to or greater than $20,000,000 and (y) on the first Business Day prior to the date of the proposed Borrowing if the proposed Borrowing is less than $20,000,000, in substantially the form of Exhibit B-2 (a “Request for Working Capital Borrowing”), duly completed. The Administrative Agent shall promptly determine in its sole discretion whether or not any Loans will be made in response to such Request for Working Capital Borrowing, and the Administrative Agent will provide the Borrower Representative and the Working Capital Lenders with prompt notice of such determination.
Request for Working Capital Loans. Each request for a Borrowing of Working Capital Loans shall be made in writing (including by E-Systems or such other methods as may be established by the Administrative Agent) by the Borrower Representative to the Administrative Agent not later than 11:00 a.m. on the Business Day prior to the date of the proposed Borrowing, in substantially the form of Exhibit B-2 (a “Request for Working Capital Borrowing”), duly completed. The Administrative Agent shall promptly determine in its sole discretion whether or not any Loans will be made in response to such Request for Working Capital Borrowing, and the Administrative Agent will provide the Borrower Representative and the Lenders with prompt notice of such determination. Notwithstanding anything set forth herein, the Borrowers shall be limited to two (2) Borrowings of Working Capital Loans, and two (2) optional prepayments under Section 2.7 hereof, in any calendar week
Request for Working Capital Loans. Each request for a Borrowing of Working Capital Loans shall be made in writing (including by E-Systems or such other methods as shall be established by the Administrative Agent) by the Borrower Representative to the Administrative Agent not later than 11:00 a.m. on the third Business Day prior to the date of the proposed Borrowing, in substantially the form of Exhibit B-2 (a “Request for Working Capital Borrowing”), duly completed. The Administrative Agent shall promptly determine in its sole discretion whether or not any Loans will be made in response to such Request for Working Capital Borrowing, and the Administrative Agent will provide the Borrower Representative and the Revolving Lenders with prompt notice of such determination.