Common use of Requests for Advances Clause in Contracts

Requests for Advances. Whenever Borrower desires an advance, Borrower shall notify Lender (which notice shall be irrevocable) by telephone, facsimile or in writing, of the desired borrowing. Such notice (the "Notice of Borrowing") shall specify the date of the proposed borrowing, the amount requested, whether the advance shall be a Prime Rate Loan or a LIBOR Rate Loan, and, if a LIBOR Rate Loan, the duration of the initial available Interest Period. Each Notice of Borrowing for advances which are Prime Rate Loans must be received by Lender no later than 1 1:00 a.m., Hartford, Connecticut time on the day such borrowing is requested, and each Notice of Borrowing for advances which are LIBOR Rate Loans must be received by Lender no later than 10:00 a.m., Hartford, Connecticut time at least three (3) Business Days' prior to the day such borrowing is requested. Any Notice of Borrowing that is not in writing shall be followed by a written confirmation by the Borrower, provided that if such written confirmation differs in any respect from the action taken by Xxxxxx, the records of Lender shall control, absent manifest error. Lender shall enter each Loan Advance as a debit on a loan account maintained by Borrower with Lender (the "Loan Account"). Lender may also record in the Loan Account, in accordance with customary banking procedures, all fees, accrued and unpaid interest, late fees, usual and customary bank charges for the maintenance and administration of accounts maintained by Borrower and other fees and charges which are properly chargeable to Borrower in connection with the Loan Advances and all payments, subject to collection, made by Borrower on account of or to Lender. Borrower may repay and reborrow advances that are made under this Note, subject, however, to the prepayment terms

Requests for Advances. Whenever (a) The Borrower desires an advance, Borrower shall notify Lender may borrow under the Revolving Credit Facility on any Business Day Revolving Credit Commitment Period. Not later than 10:00 a.m. (which notice shall be irrevocableBaltimore City Time) by telephone, facsimile or in writing, of the desired borrowing. Such notice (the "Notice of Borrowing") shall specify on the date of the proposed requested borrowing, the Borrower shall give the Agent written notice (a “Loan Notice”) which may be by fax of the amount requested, whether and (if requested by the advance Agent) the purpose of the requested borrowing. Any oral Loan Notice shall be a Prime Rate Loan or a LIBOR Rate Loan, and, if a LIBOR Rate Loan, confirmed in writing by the duration of the initial available Interest Period. Each Notice of Borrowing for advances which are Prime Rate Loans must be received by Lender no later than 1 1:00 a.m., Hartford, Connecticut time on the day such borrowing is requested, and each Notice of Borrowing for advances which are LIBOR Rate Loans must be received by Lender no later than 10:00 a.m., Hartford, Connecticut time at least Borrower within three (3) Business Days' prior to Days after the day such borrowing is requestedmaking of the requested Advance. Any Each Loan Notice of Borrowing that is not in writing shall be followed by irrevocable. Advances under the Revolving Loan shall be deposited to a written confirmation demand deposit account of the Borrower with the Lender or shall be otherwise applied as directed by the Borrower, provided which direction the Lender may require to be in writing, except that if such written confirmation differs controlled disbursement Advances shall be deposited to a demand deposit account of the Borrower with the Agent or shall be otherwise applied as directed by the Borrower, which direction the Agent may require to be in any respect from the action taken by Xxxxxxwriting. (b) In addition, the records Borrower hereby irrevocably authorizes the Lenders at any time and from time to time, without further request from or notice to the Borrower, to make Advances, and irrevocably authorizes the Agent to establish, without duplication, Reserves against the Borrowing Base, that the Agent, in its sole and absolute discretion, deems necessary or appropriate to protect the interests of Lender shall controlthe Agent and/or any or all of the Lenders under this Agreement, absent manifest error. Lender shall enter each Loan Advance as a including, without limitation, Advances and Reserves to cover debit on a loan account maintained by Borrower with Lender (the "Loan Account"). Lender may also record balances in the Revolving Loan Account, in accordance with customary banking proceduresprincipal of and interest on any Loan, Bank Products, Revolver Usage, Enforcement Costs and the other Obligations, all feesof the foregoing whether prior to, accrued and unpaid intereston, late fees, usual and customary bank charges for or after the maintenance and administration termination of accounts maintained by Borrower and other fees and charges which are properly chargeable to Borrower in connection with the Loan Advances and all payments, subject to collection, made by Borrower on account of or to Lender. Borrower may repay and reborrow advances that are made under this NoteAgreement, subjectand regardless of whether the outstanding principal amount of the Revolving Loan that the Lenders may advance or the Agent may reserve hereunder exceeds the Total Revolving Credit Committed Amount or the Borrowing Base; provided, however, with respect to Bank Products consisting of credit cards, credit card processing services, debit cards, or purchase cards, no such Advances and Reserves shall be made or imposed unless (i) the Borrower so agrees, (ii) the Agent has given the Borrower no less than ten (10) days’ prior notice of the Agent’s intent to do so, or (iii) an Event of Default has occurred. (c) The Agent may elect to process the Advances under the Agent’s First Investment Loan Manager program, or other automated sweep program in effect at the Agent from time to time, to facilitate automatic the Advances to cover items drawn under a designated demand deposit account of the Borrower with the Agent. The Borrower shall enter into the Agent’s standard agreements and instruments (which may include promissory notes) in connection such program promptly upon the Agent’s request from time to time. The Agent may cease funding under and use of that program at any time upon notice to the prepayment termsBorrower.

Requests for Advances. Whenever Borrower desires an advance, Borrower shall notify Lender (which notice shall be irrevocable) by telephone, facsimile or in writing, of the desired borrowing. Such notice (the "Notice of Borrowing") shall specify the date of the proposed borrowing, the amount requested, whether the advance shall be a Prime Rate Loan or a LIBOR Rate Loan, and, if a LIBOR Rate Loan, the duration of the initial available Interest Period. Each Notice of Borrowing for advances which are Prime Rate Loans must be received by Lender no later than 1 1:00 a.m., Hartford, Connecticut time on the day such borrowing is requested, and each Notice of Borrowing for advances which are LIBOR Rate Loans must be received by Lender no later than 10:00 a.m., Hartford, Connecticut time at least three (3) Business Days' prior to the day such borrowing is requested. Any Notice of Borrowing that is not in writing shall be followed by a written confirmation by the Borrower, provided that if such written confirmation differs in any respect from the action taken by XxxxxxLender, the records of Lender shall control, absent manifest error. Lender shall enter each Loan Advance as a debit on a loan account maintained by Borrower with Lender (the "Loan Account"). Lender may also record in the Loan Account, in accordance with customary banking procedures, all fees, accrued and unpaid interest, late fees, usual and customary bank charges for the maintenance and administration of accounts maintained by Borrower and other fees and charges which are properly chargeable to Borrower in connection with the Loan Advances and all payments, subject to collection, made by Borrower on account of or to Lender. Borrower may repay and reborrow advances that are made under this Note, subject, however, to the prepayment termsterms contained below. Borrower's right to request advances under this Note shall terminate on the Termination Date.

Requests for Advances. Whenever Borrower desires an advance, Borrower shall notify Lender (which notice shall be irrevocable) by telephone, facsimile or in writing, of the desired borrowing. Such notice (the "Notice of Borrowing") shall specify the date of the proposed borrowing, the amount requested, whether the advance shall be a Prime Rate Loan or a LIBOR Rate Loan, and, if a LIBOR Rate Loan, the duration of the initial available Interest Period. Each Notice of Borrowing for advances which are Prime Rate Loans must be received by Lender no later than 1 1:00 11:00 a.m., Hartford, Connecticut time on the day such borrowing is requested, and each Notice of Borrowing for advances which are LIBOR Rate Loans must be received by Lender no later than 10:00 a.m., Hartford, Connecticut time at least three (3) Business Days' prior to the day such borrowing is requested. Any Notice of Borrowing that is not in writing shall be followed by a written confirmation by the Borrower, provided that if such written confirmation differs in any respect from the action taken by XxxxxxLender, the records of Lender shall control, absent manifest error. Lender shall enter each Loan Advance as a debit on a loan account maintained by Borrower with Lender (the "Loan Account"). Lender may also record in the Loan Account, in accordance with customary banking procedures, all fees, accrued and unpaid interest, late fees, usual and customary bank charges for the maintenance and administration of accounts maintained by Borrower and other fees and charges which are properly chargeable to Borrower in connection with the Loan Advances and all payments, subject to collection, made by Borrower on account of or to Lender. Borrower may repay and reborrow advances that are made under this Note, subject, however, to the prepayment termsterms contained below. Borrower shall not have more than three (3) LIBOR Rate Loans outstanding at any one time. Borrower's right to request advances under this Note shall terminate on the Termination Date. Advances that are LIBOR Rate Loans shall be in the minimum amount of $l00,000 each.

Requests for Advances. Whenever Borrower (1) Except as set forth below in section 2.2 e. (2) of this Agreement, whenever an Obligor desires an advance, Borrower such Obligor shall notify Lender Agent (which notice shall be irrevocable) by telephone, facsimile or in writing, of the desired borrowing. Such notice (the "Notice of Borrowing") shall specify the date of the proposed borrowing, whether such borrowing is to bear interest initially as a LIBOR Rate Loan or a Prime Rate Loan and the amount requested, whether the advance which amount shall be in a Prime Rate Loan or a LIBOR Rate Loan, and, if a LIBOR Rate Loan, the duration minimum amount of the initial available Interest Period$100,000. Each Notice of Borrowing for advances which are Prime Rate Loans must be received by Lender no later than 1 1:00 a.m., Hartford, Connecticut time on the day such borrowing is requested, and each Notice of Borrowing for advances which are LIBOR Rate Loans must be received by Lender Agent no later than 10:00 a.m., Hartford, Connecticut time (a) at least three (3) Business Days' prior to the day such borrowing is requestedrequested if such borrowing is to be a LIBOR Rate Loan or (b) on the day of such borrowing if such borrowing is to be a Prime Rate Loan. Any Notice of Borrowing that is not in writing shall be followed by a written confirmation by the Borrowersuch Obligor, provided that if such written confirmation differs in any respect from the action taken by XxxxxxAgent, the records of Lender Agent shall control, absent manifest error. Obligors shall not have more than four (4) LIBOR Rate Loans under the Revolving Line of Credit outstanding at any one time. Each Revolving Line of Credit Advance shall be made by the Lenders in accordance with their respective Lender's Commitment Percentages up to the maximum principal amount of their respective Revolving Line of Credit Notes. Neither any Lender nor Agent shall be responsible for advancing any amount of any Revolving Line of Credit Advance to be made by any other Lender hereunder. Agent shall enter each Loan Revolving Line of Credit Advance as a debit on a loan account maintained by Borrower Obligors with Lender Agent (the "Loan Account"). Lender Agent may also record in the Loan Account, in accordance with customary banking procedures, all fees, accrued and unpaid interest, late fees, usual and customary bank charges for the maintenance and administration of accounts maintained by Borrower Obligors and other fees and charges which are properly chargeable to Borrower Obligors in connection with the Loan Revolving Line of Credit Advances and all payments, subject to collection, made by Borrower Obligors on account of or to Lender. Borrower may repay and reborrow advances that are made under this Note, subject, however, to the prepayment termsAgent.

Requests for Advances. Whenever Borrower a. Except as set forth below in section 2. b. of this Note, whenever an Obligor desires an advance, Borrower such Obligor shall notify Lender (which notice shall be irrevocable) by telephone, facsimile or in writing, of the desired borrowing. Such notice (the "Notice of Borrowing") shall specify the date of the proposed borrowing, whether such borrowing is to bear interest initially as a LIBOR Rate Loan or a Prime Rate Loan and the amount requested, whether the advance which amount shall be in a Prime Rate Loan or a LIBOR Rate Loan, and, if a LIBOR Rate Loan, the duration minimum amount of the initial available Interest Period$100,000. Each Notice of Borrowing for advances which are Prime Rate Loans must be received by Lender no later than 1 1:00 a.m., Hartford, Connecticut time on the day such borrowing is requested, and each Notice of Borrowing for advances which are LIBOR Rate Loans must be received by Lender no later than 10:00 a.m., Hartford, Connecticut time (a) at least three (3) Business Days' prior to the day such borrowing is requestedrequested if such borrowing is to be a LIBOR Rate Loan or (b) on the day of such borrowing if such borrowing is to be a Prime Rate Loan. Any Notice of Borrowing that is not in writing shall be followed by a written confirmation by the Borrowersuch Obligor, provided that if such written confirmation differs in any respect anx xxxxxct from the action taken by XxxxxxLender, the records of Lender shall control, absent manifest error. Lender Xxxxer shall enter each Loan Advance as a debit on a loan account maintained by Borrower Obligors with Lender (the "Loan Account"). Lender may also record in the Loan Account, in accordance with customary banking procedures, all fees, accrued and unpaid interest, late fees, usual and customary bank charges for the maintenance and administration of accounts maintained by Borrower Obligors and other fees and charges which are properly chargeable to Borrower Obligors in connection with the Loan Advances and all payments, subject to collection, made by Borrower Obligors on account of or to Lender. b. In addition, Lender will automatically make advances without any additional xxxxxe in order to honor checks drawn upon the Loan Account by any of the Obligors up to an aggregate amount outstanding at any one time of $500,000. Borrower All such advances shall be Prime Rate Loans and shall otherwise be subject to all the terms and conditions of this Note and the Loan and Security Agreement. c. Obligors may repay and reborrow advances that are made under this Note, subject, however, to the prepayment termsterms contained below. Obligors shall not have more than four (4) LIBOR Rate Loans outstanding at any one time. Obligors' right to request advances under this Note shall terminate on the Termination Date.

Requests for Advances. Whenever Borrower desires an advancemust give to Agent at least three Business Days' prior written notice, Borrower shall notify Lender (which or telephonic notice shall be irrevocable) by telephone, facsimile or promptly confirmed in writing, of any requested Advances, after which Agent shall give each Lender notice thereof within twenty-four hours of Agent's receipt of such requested Advances. Each such written request or confirmation must be made in the desired borrowing. Such notice (form and substance of the "Notice of Borrowing") Request for Advance" attached hereto as EXHIBIT B, duly completed. Each such telephonic request shall specify be deemed a representation, warranty, acknowledgment and agreement by Borrower as to the matters which are required to be set out in such written confirmation. If all conditions precedent to such Advances have been met, each Lender will on the date of the proposed borrowingrequested promptly remit to Agent at Agent's office in New York, New York the amount requestedof such Lender's Advance in immediately available funds, whether and upon receipt of such funds, unless to its actual knowledge any conditions precedent to such Advances have been neither met nor waived as provided herein, Agent shall promptly make the advance Advances available to Borrower. Each Request for Advance shall be irrevocable and binding on Borrower. Unless Agent shall have received prompt notice from a Prime Rate Loan Lender that such Lender will not make available to Agent such Lender's Advance, Agent may in its discretion assume that such Lender has made such Advance available to Agent in accordance with this section and Agent may if it chooses, in reliance upon such assumption, make such Advance available to Borrower. If and to the extent such Lender shall not so make its Advance available to Agent, such Lender and Borrower severally agree to pay or a LIBOR Rate Loanrepay to Agent within three days after demand the amount of such Advance together with interest thereon, andfor each day from the date such amount is made available to Borrower until the date such amount is paid or repaid to Agent, at the Federal Funds Rate; provided that Agent shall first notify such Lender and if a LIBOR Rate LoanAgent does not receive such Lender's Advance immediately upon receipt of such notice, the duration of the initial available Interest Period. Each Notice of Borrowing for advances which are Prime Rate Loans must be received by Lender no later than 1 1:00 a.m., Hartford, Connecticut time on the day then Borrower shall pay such borrowing is requested, and each Notice of Borrowing for advances which are LIBOR Rate Loans must be received by Lender no later than 10:00 a.m., Hartford, Connecticut time at least amount within three (3) Business Days' prior days after demand therefor is made upon Borrower. The failure of any Lender to the day such borrowing is requested. Any Notice make any Advance to be made by it hereunder shall not relieve any other Lender of Borrowing that is not in writing its obligation hereunder, if any, to make its Advance, but no Lender shall be followed by a written confirmation by the Borrower, provided that if such written confirmation differs in any respect from the action taken by Xxxxxx, the records of Lender shall control, absent manifest error. Lender shall enter each Loan Advance as a debit on a loan account maintained by Borrower with Lender (the "Loan Account"). Lender may also record in the Loan Account, in accordance with customary banking procedures, all fees, accrued and unpaid interest, late fees, usual and customary bank charges responsible for the maintenance and administration failure of accounts maintained by Borrower and any other fees and charges which are properly chargeable Lender to Borrower in connection with the Loan Advances and all payments, subject make any Advance to collection, be made by Borrower on account of or to such other Lender. Borrower may repay and reborrow advances that are made under this Note, subject, however, to the prepayment terms.