Requesting a Loan Clause Samples
The 'Requesting a Loan' clause outlines the process and requirements for a party to formally ask for a loan under an agreement. Typically, it specifies the information that must be provided in a loan request, such as the amount, purpose, and proposed repayment terms, and may set deadlines or conditions for submitting such requests. This clause ensures that all loan requests are made in a consistent and documented manner, reducing misunderstandings and providing a clear framework for both parties to follow.
Requesting a Loan. The request must be in writing in a form acceptable to Aetna and must assign to Aetna that portion of their Individual Account Reserve necessary to cover the loan amount plus interest. A loan may not be requested within 12 months of any prior loan request.
Requesting a Loan. To request a Loan, the Borrower shall submit to the Administrative Agent a Borrowing Request substantially in the form of Exhibit D attached hereto, not later than (i) in the case of an ABR Loan, 1:00 p.m., Eastern time, on the Business Day of the proposed Loan, or (ii) in the case of a LIBOR Loan, 1:00 p.m., Eastern time, three (3) Business Days before the date of the proposed Loan. Each such Borrowing Request shall be irrevocable and shall specify: (A) the requested date for such Loan (which shall be a Business Day), (B) whether such Loan is to be an ABR Loan or a LIBOR Loan, (C) the amount of such Loan, which shall be in an Approved Amount, and (D) with respect to each LIBOR Loan, the Interest Period therefor, provided that, if (x) the Borrower shall fail to specify whether such requested Loan is to be an ABR Loan or a LIBOR Loan, then such Loan shall be made as a LIBOR Loan with an interest period of one month, or (y) immediately after giving effect to the making of such requested Loan, there would be Loans outstanding with in excess of six (6) different Interest Periods, then such Loan shall be made as an ABR Loan.
Requesting a Loan. To the extent the Borrower desires to request the Bank to make a Loan to the Borrower hereunder, the Borrower shall give the Bank a notice substantially in the form of Exhibit B attached hereto (a “Notice of Borrowing or Prepayment”) not later than 3:00 p.m. (Boston time) (or telephonic notice not later than 3:00 p.m. (Boston time) confirmed in writing substantially in the form of Exhibit B attached hereto not later than 4:00 p.m. (Boston time)) on the Business Day of each proposed borrowing of a Loan. Each Notice of Borrowing or Prepayment or oral request shall constitute a representation and warranty by the Borrower that the conditions set forth in Section 3.02(a) through (d) hereof (and, in the case of the initial Loan to be made hereunder, Section 3.01 hereof) have been satisfied on the date of such notice and will be satisfied on the Drawdown Date of such Loan (if the Bank elects, in its sole and absolute discretion to make such Loan to the Borrower).
Requesting a Loan. Each Loan shall be made pursuant to a Borrowing Request (or by telephone notice promptly confirmed in writing by a Borrowing Request), given by such Borrower to the Agent not later than 10:00 a.m., Dallas, Texas time (i) at least three Business Day before the date of the proposed Loan, in the case of a LIBO Rate Loan, and (ii) at least one Business Day before the date of the proposed Loan, in the case of a Floating Rate Loan, by the applicable Borrower to the Agent. Each Borrowing Request shall be in writing or by facsimile or telephone, confirmed immediately in writing specifying (v) name of the Borrower requesting the Loan, (w) the requested date of such Loan (which shall be a Business Day), (x) whether the requested Loan is a LIBO Rate Loan or a Floating Rate Loan (y) the requested aggregate amount of such Loan, and (z) if such Loan is to be a LIBO Rate Loan, the requested Interest Period for such Loan.
Requesting a Loan. To request a Loan, the Borrower shall make a telephonic Borrowing Request to the Administrative Agent, not later than 1:00 p.m., New York City time, on the Business Day of the proposed Loan. Such telephonic Borrowing Request shall be irrevocable and shall be confirmed promptly by hand delivery, e-mail transmission or facsimile to the Administrative Agent of a duly executed Borrowing Request duly signed by or on behalf of the Borrower. Each such telephonic and written Borrowing Request shall specify: (A) the requested date for such Loan (which shall be a Business Day), and (B) the amount of such Loan, which shall be in an Approved Amount.