Requests for Borrowing. To request the Borrowing, the Borrower shall notify the Administrative Agent of such request by telephone (a) in the case of a Eurodollar Borrowing, not later than 11:00 a.m., New York City time, three Business Days before the date of the proposed Borrowing and (b) in the case of an ABR Borrowing, not later than 11:00 a.m., New York City time, on the date of the proposed Borrowing. 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 information in compliance with Section 2.02: (i) the aggregate amount of the Borrowing; (ii) the date of the Borrowing; (iii) whether the 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 to which funds are to be disbursed, which shall comply with the requirements of Section 2.04. If no election as to the Type of Borrowing is specified, then the Borrowing shall be a Eurodollar Borrowing. If no Interest Period is specified with respect to the Borrowing, if it is requested (or deemed requested) as a Eurodollar Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. Promptly following receipt of a 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 Borrowing.
Appears in 4 contracts
Samples: Amendment and Restatement Agreement (Limited Brands Inc), Amendment and Restatement Agreement (Term Loans) (Limited Brands Inc), Amendment and Restatement Agreement (Limited Brands Inc)
Requests for Borrowing. To request the Borrowing, the The Borrower shall notify give the Administrative Agent irrevocable prior written notice substantially in the form of Exhibit B (a “Notice of Borrowing”) not later than 12:00 p.m.
(i) on the same Business Day as each Base Rate Loan and each Swingline Loan and (ii) at least three (3) Business Days before each LIBOR Rate Loan, of its intention to borrow, specifying (A) the date of such request by telephone borrowing, which shall be a Business Day, (aB) the amount of such borrowing, which shall be, (x) with respect to Base Rate Loans (other than Swingline Loans) in an aggregate principal amount of $1,000,000 or a whole multiple of $1,000,000 in excess thereof, (y) with respect to LIBOR Rate Loans in an aggregate principal amount of $5,000,000 or a whole multiple of $1,000,000 in excess thereof and (z) with respect to Swingline Loans in an aggregate principal amount of $500,000 or a whole multiple of $100,000 in excess thereof, (C) whether such Loan is to be a Revolving Credit Loan or Swingline Loan, (D) in the case of a Eurodollar BorrowingRevolving Credit Loan whether the Loans are to be LIBOR Rate Loans or Base Rate Loans, not later than 11:00 a.m., New York City time, three Business Days before the date of the proposed Borrowing and (b) in the case of an ABR Borrowing, not later than 11:00 a.m., New York City time, on the date of the proposed Borrowing. 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 information in compliance with Section 2.02:
(i) the aggregate amount of the Borrowing;
(ii) the date of the Borrowing;
(iii) whether the Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(ivE) in the case of a Eurodollar BorrowingLIBOR Rate Loan, the initial duration of the 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 to which funds are to be disbursed, which shall comply with the requirements of Section 2.04. If no election as the Borrower fails to the Type specify a type of Borrowing is specified, then the Borrowing shall be Loan in a Eurodollar Borrowing. If no Interest Period is specified with respect to the Borrowing, if it is requested (or deemed requested) as a Eurodollar Notice of Borrowing, then the applicable Loans shall be made as Base Rate Loans. If the Borrower shall requests a borrowing of LIBOR Rate Loans in any such Notice of Borrowing, but fails to specify an Interest Period, it will be deemed to have selected specified an Interest Period of one month’s duration. Promptly following receipt A Notice of a Borrowing Request in accordance with this Section, received after 12:00 p.m. shall be deemed received on the next Business Day. The Administrative Agent shall advise promptly notify the Revolving Credit Lenders of each Lender Notice of the details thereof and of the amount of such Lender’s Loan to be made as part of the Borrowing.
Appears in 4 contracts
Samples: Credit Agreement (Switch, Inc.), Credit Agreement (Switch, Inc.), Credit Agreement (Switch, Inc.)
Requests for Borrowing. To request the Borrowing, the The Borrower shall notify give the Administrative Agent irrevocable prior written notice substantially in the form of Exhibit B (a “Notice of Borrowing”) not later than 11:00 a.m. (i) on the requested date of any Borrowing of Base Rate Loans or Swingline Loans and (ii) at least three (3) Business Days before the requested date of any Borrowing of LIBOR Rate Loans, of its intention to borrow, specifying (A) the date of such request by telephone Borrowing, which shall be a Business Day, (aB) the amount of such Borrowing, which shall be, (x) with respect to a Borrowing of Base Rate Loans in an aggregate principal amount of $500,000 or a whole multiple of $100,000 in excess thereof, (y) with respect to a Borrowing of LIBOR Rate Loans in an aggregate principal amount of $1,000,000 or a whole multiple of $500,000 in excess thereof and (z) with respect to a Borrowing of Swingline Loans in an aggregate principal amount of $25,000 or a whole multiple of $10,000 in excess thereof, (C) whether such Loan is to be a Revolving Credit Loan or Swingline Loan, (D) the Type of Loans to be borrowed (provided that all Swingline Loans shall be Base Rate Loans), and (E) in the case of a Eurodollar BorrowingBorrowing of LIBOR Rate Loans, not later than 11:00 a.m., New York City time, three Business Days before the date duration of the proposed Borrowing and (b) in the case of an ABR Borrowing, not later than 11:00 a.m., New York City time, on the date of the proposed Borrowing. 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 information in compliance with Section 2.02:
(i) the aggregate amount of the Borrowing;
(ii) the date of the Borrowing;
(iii) whether the 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 to which funds are to be disbursed, which shall comply with the requirements of Section 2.04. If no election as to the Type A Notice of Borrowing is specified, then the Borrowing shall be a Eurodollar Borrowing. If no Interest Period is specified with respect to the Borrowing, if it is requested (or deemed requested) as a Eurodollar Borrowing, then the Borrower received after 11:00 a.m. shall be deemed to have selected an Interest Period of one month’s durationreceived on the next Business Day. Promptly following receipt of a Borrowing Request in accordance with this Section, the The Administrative Agent shall advise promptly notify the Lenders of each Lender Notice of Borrowing. Notwithstanding the details thereof and of the amount of such Lender’s Loan to foregoing, Swingline Borrowings may be made as part of the Borrowingand repaid pursuant to terms otherwise set forth in any applicable Treasury Management Agreement without giving effect to any minimum amounts, notice, time or funding requirements set forth herein.
Appears in 3 contracts
Samples: Credit Agreement (MGP Ingredients Inc), Credit Agreement (MGP Ingredients Inc), Credit Agreement (MGP Ingredients Inc)
Requests for Borrowing. To request the Borrowing, the The Borrower shall notify give the Administrative Agent irrevocable prior written notice substantially in the form of Exhibit B (a “Notice of Borrowing”) not later than 12:00 p.m.
(i) on the same Business Day as each Base Rate Loan and each Swingline Loan, and (ii) at least three Business Days before each LIBOR Rate Loan, of its intention to borrow, specifying (A) the date of such request by telephone borrowing, which shall be a Business Day, (aB) the amount of such borrowing, which shall be, (x) with respect to Base Rate Loans (other than Swingline Loans) in an aggregate principal amount of $3,000,000 or a whole multiple of $1,000,000 in excess thereof, (y) with respect to LIBOR Rate Loans in an aggregate principal amount of $5,000,000 or a whole multiple of $1,000,000 in excess thereof and (z) with respect to Swingline Loans in an aggregate principal amount of $500,000 or a whole multiple of $100,000 in excess thereof, (C) whether such Loan is to be a Revolving Credit Loan or Swingline Loan, (D) in the case of a Eurodollar BorrowingRevolving Credit Loan whether the Loans are to be LIBOR Rate Loans or Base Rate Loans, not later than 11:00 a.m., New York City time, three Business Days before the date of the proposed Borrowing and (b) in the case of an ABR Borrowing, not later than 11:00 a.m., New York City time, on the date of the proposed Borrowing. 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 information in compliance with Section 2.02:
(i) the aggregate amount of the Borrowing;
(ii) the date of the Borrowing;
(iii) whether the Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(ivE) in the case of a Eurodollar BorrowingLIBOR Rate Loan, the initial duration of the Interest Period to be applicable thereto; provided that if the Borrower wishes to request LIBOR Rate Loans having an Interest Period of twelve months in duration, which shall such notice must be a period contemplated received by the definition of the term “Interest Period”; and
(v) the location and number of the Borrower’s account to which funds are to be disbursed, which shall comply with the requirements of Section 2.04. If no election as Administrative Agent not later than 12:00 p.m. four Business Days prior to the Type requested date of Borrowing is specifiedsuch borrowing, then whereupon the Borrowing Administrative Agent shall be a Eurodollar Borrowing. If no give prompt notice to the Revolving Credit Lenders of such request and determine whether the requested Interest Period is specified with respect acceptable to all of them. If the Borrowing, if it is requested (or deemed requested) as Borrower fails to specify a Eurodollar type of Loan in a Notice of Borrowing, then the applicable Loans shall be made as Base Rate Loans. If the Borrower shall requests a Borrowing of LIBOR Rate Loans in any such Notice of Borrowing, but fails to specify an Interest Period, it will be deemed to have selected specified an Interest Period of one month’s duration. Promptly following receipt A Notice of a Borrowing Request in accordance with this Section, received after 12:00 p.m. shall be deemed received on the next Business Day. The Administrative Agent shall advise promptly notify the Revolving Credit Lenders of each Lender Notice of the details thereof and of the amount of such Lender’s Loan to be made as part of the Borrowing.
Appears in 3 contracts
Samples: Credit Agreement (SYNAPTICS Inc), Credit Agreement (SYNAPTICS Inc), Credit Agreement (Synaptics Inc)
Requests for Borrowing. To request the Borrowing, the Borrower shall notify the Administrative Agent of such request by telephone (a) in the case of a Eurodollar Borrowing, not later than 11:00 a.m., New York City time, three Business Days before the date of the proposed Borrowing and (b) in the case of an ABR Borrowing, not later than 11:00 a.m., New York City time, on the date of the proposed Borrowing. 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 information in compliance with Section 2.02:
(i) the aggregate amount of the Borrowing;
(ii) the date of the Borrowing, which shall be a Business Day during the Availability Period;
(iii) whether the 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 to which funds are to be disbursed, which shall comply with the requirements of Section 2.04. If no election as to the Type of Borrowing is specified, then the Borrowing shall be a Eurodollar Borrowing. If no Interest Period is specified with respect to the Borrowing, if it is requested (or deemed requested) as a Eurodollar Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. Promptly following receipt of a 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 Borrowing.
Appears in 2 contracts
Samples: Bridge Credit Agreement (Limited Brands Inc), Term Loan Credit Agreement (Limited Brands Inc)
Requests for Borrowing. To request the Borrowing, the The Borrower shall notify give the Administrative Agent irrevocable prior written notice (it being understood and agreed that such notice may state that the Borrowing is conditioned upon the effectiveness of other credit facilities, acquisitions, dispositions or other transactions, in which case, such notice may be revoked or modified by Borrower (by notice to Administrative Agent on or prior to the specified borrowing date) if such condition is not satisfied) substantially in the form of Exhibit B (a “Notice of Borrowing”) not later than 12:00 p.m.
(i) on the same Business Day as each Base Rate Loan and each Swingline Loan, and (ii) at least three Business Days before each LIBOR Rate Loan, of its intention to borrow, specifying (A) the date of such request by telephone borrowing, which shall be a Business Day, (aB) the amount of such borrowing, which shall be, (x) with respect to Base Rate Loans (other than Swingline Loans) in an aggregate principal amount of $3,000,000 or a whole multiple of $1,000,000 in excess thereof, (y) with respect to LIBOR Rate Loans in an aggregate principal amount of $5,000,000 or a whole multiple of $1,000,000 in excess thereof and (z) with respect to Swingline Loans in an aggregate principal amount of $500,000 or a whole multiple of $100,000 in excess thereof, (C) whether such Loan is to be a Revolving Credit Loan or Swingline Loan, (D) in the case of a Eurodollar BorrowingRevolving Credit Loan whether the Loans are to be LIBOR Rate Loans or Base Rate Loans, not later than 11:00 a.m., New York City time, three Business Days before the date of the proposed Borrowing and (b) in the case of an ABR Borrowing, not later than 11:00 a.m., New York City time, on the date of the proposed Borrowing. 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 information in compliance with Section 2.02:
(i) the aggregate amount of the Borrowing;
(ii) the date of the Borrowing;
(iii) whether the Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(ivE) in the case of a Eurodollar BorrowingLIBOR Rate Loan, the initial duration of the Interest Period to be applicable thereto; provided that if the Borrower wishes to request LIBOR Rate Loans having an Interest Period of twelve months in duration, which shall such notice must be a period contemplated received by the definition of the term “Interest Period”; and
(v) the location and number of the Borrower’s account to which funds are to be disbursed, which shall comply with the requirements of Section 2.04. If no election as Administrative Agent not later than 12:00 p.m. four Business Days prior to the Type requested date of Borrowing is specifiedsuch borrowing, then whereupon the Borrowing Administrative Agent shall be a Eurodollar Borrowing. If no give prompt notice to the Revolving Credit Lenders of such request and determine whether the requested Interest Period is specified with respect acceptable to all of them. If the Borrowing, if it is requested (or deemed requested) as Borrower fails to specify a Eurodollar type of Loan in a Notice of Borrowing, then the applicable Loans shall be made as Base Rate Loans. If the Borrower shall requests a Borrowing of LIBOR Rate Loans in any such Notice of Borrowing, but fails to specify an Interest Period, it will be deemed to have selected specified an Interest Period of one month’s duration. Promptly following receipt A Notice of a Borrowing Request in accordance with this Section, received after 12:00 p.m. shall be deemed received on the next Business Day. The Administrative Agent shall advise promptly notify the Revolving Credit Lenders of each Lender Notice of the details thereof and of the amount of such Lender’s Loan to be made as part of the Borrowing.
Appears in 2 contracts
Samples: First Amendment and Lender Joinder Agreement (SYNAPTICS Inc), Credit Agreement (SYNAPTICS Inc)
Requests for Borrowing. To request the a Borrowing, the Borrower shall notify the Administrative Agent of such request by telephone (a) in the case of a Eurodollar LIBOR Borrowing (other than a Tranche A-3 Borrowing), not later than 11:00 a.m., New York City time, three Business Days before the date of the proposed Borrowing and Borrowing, (b) in the case of an ABR Borrowing (other than a Tranche A-3 Borrowing), not later than 11:00 a.m., New York City time, one Business Day before the date of the proposed Borrowing or (c) in the case of a Tranche A-3 Borrowing, not later than 11:00 a.m., New York City time, on five Business Days before the date of the proposed Borrowing; provided, that in the case of any Tranche A-3 Loans funded by a CSCC Lender all Borrowings of Tranche A-3 Loans shall be requested as set forth in the CSCC Borrowing Procedures Letter. Such Each 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 Each such telephonic and written Borrowing Request shall specify the following information in compliance with Section 2.02:
(i) the aggregate amount of the such Borrowing;
(ii) the date of the such Borrowing, which shall be a Business Day;
(iii) whether the such Borrowing is to be a LIBOR Borrowing or an ABR Borrowing and whether such Borrowing shall consist of Tranche A-1 Loans, Tranche A-2 Loans, Tranche A-3 Loans or a Eurodollar BorrowingRevolving Loans;
(iv) in the case of a Eurodollar LIBOR 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) with respect to any Tranche A-3 Borrowing, whether any portion of such Borrowing is to be used by the Borrower for the purposes of funding payment to a Cisco Vendor other than Cisco Systems and the amount of such portion;
(vi) the location and number of the Borrower’s account or accounts to which funds (if any) are to be disbursed, which shall comply with the requirements of Section 2.04;
(vii) a representation by the Borrower that, after giving effect to such Borrowing, the Borrower has complied with the terms of Section 4.02; and
(viii) in the case of a Tranche A-3 Borrowing (x) involving a CSCC Lender and (y) the proceeds of which are used to pay (or to finance the previous payment of) the purchase price of Cisco Products, a representation by the Borrower that it has delivered to all applicable CSCC Lenders copies of the relevant unpaid invoices of such Cisco Products. Each such written Borrowing Request shall also certify that there shall not exist, on the date of the requested Borrowing and after giving effect thereto, a Default. If any portion of the proceeds of a Tranche A-3 Loan Borrowing funded by a CSCC Lender is to be used by the Borrower for the purpose of funding payment to a Cisco Vendor other than Cisco Systems, such portion of such Borrowing shall be requested and available only if CSCC has executed (such execution not to be unreasonably withheld) the Borrowing Request with respect to such Borrowing. The Tranche A-3 Loan to be made by Xxxx Telecom shall be funded on the Second Amendment Effective Date in accordance with the provisions of the commitment letter dated April 12, 2001 delivered by Xxxx Telecom, without need for submission of a Borrowing Request, as a LIBOR Borrowing for a 6 month Interest Period. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar an ABR Borrowing. If no Interest Period is specified with respect to the Borrowing, if it is any requested (or deemed requested) as a Eurodollar LIBOR Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s 's duration. Except as to a Tranche A-3 Borrowing, if no election as to the Class of Borrowing is specified, then the requested Borrowing shall consist of Revolving Loans. Promptly following receipt of a Borrowing Request in accordance with this Section, the Administrative Agent shall advise each applicable Lender of the details thereof and of the amount of such Lender’s 's Loan to be made as part of the requested Borrowing. So long as any CSCC Lender holds any Tranche A-3 Commitment, the proviso in the first sentence and the last sentence in the first paragraph of this Section 2.03 may not be amended, modified or waived without the prior written consent of CSCC.
Appears in 2 contracts
Samples: Credit Agreement (Velocita Corp), Credit Agreement (Velocita Corp)
Requests for Borrowing. To request the Borrowing, the The Borrower shall notify give the Administrative Agent irrevocable prior written notice substantially in the form of Exhibit B (a “Notice of Borrowing”) not later than 2:00 p.m.
(i) on the same Business Day as each Base Rate Loan or Swingline Loan and (ii) at least three (3) Business Days before each LIBOR Rate Loan, of its intention to borrow, specifying (A) the date of such request by telephone borrowing, which shall be a Business Day, (aB) the amount of such borrowing, which shall be, (x) with respect to Base Rate Loans (other than Swingline Loans) in an aggregate principal amount of $100,000 or a whole multiple of $100,000 in excess thereof, (y) with respect to LIBOR Rate Loans in an aggregate principal amount of $1,000,000 or a whole multiple of $100,000 in excess thereof and (z) with respect to Swingline Loans in an aggregate principal amount of $100,000 or a whole multiple of $100,000 in excess thereof, (C) whether such Loan is to be a Revolving Credit Loan or Swingline Loan, (D) in the case of a Eurodollar BorrowingRevolving Credit Loan whether the Loans are to be LIBOR Rate Loans or Base Rate Loans, not later than 11:00 a.m., New York City time, three Business Days before the date of the proposed Borrowing and (b) in the case of an ABR Borrowing, not later than 11:00 a.m., New York City time, on the date of the proposed Borrowing. 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 information in compliance with Section 2.02:
(i) the aggregate amount of the Borrowing;
(ii) the date of the Borrowing;
(iii) whether the Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(ivE) in the case of a Eurodollar BorrowingLIBOR Rate Loan, the initial duration of the 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 to which funds are to be disbursed, which shall comply with the requirements of Section 2.04. If no election as the Borrower fails to the Type specify a type of Borrowing is specified, then the Borrowing shall be Loan in a Eurodollar Borrowing. If no Interest Period is specified with respect to the Borrowing, if it is requested (or deemed requested) as a Eurodollar Notice of Borrowing, then the applicable Loans shall be made as Base Rate Loans. If the Borrower shall requests a borrowing of LIBOR Rate Loans in any such Notice of Borrowing, but fails to specify an Interest Period, it will be deemed to have selected specified an Interest Period of one month’s duration. Promptly following receipt A Notice of a Borrowing Request in accordance with this Section, received after 2:00 p.m. shall be deemed received on the next Business Day. The Administrative Agent shall advise promptly notify the Revolving Credit Lenders of each Lender Notice of the details thereof and of the amount of such Lender’s Loan to be made as part of the Borrowing.
Appears in 2 contracts
Samples: Credit Agreement (Patrick Industries Inc), Credit Agreement (Patrick Industries Inc)
Requests for Borrowing. To request the Borrowing, the The Borrower shall notify give Agent irrevocable prior written notice substantially in the Administrative Agent form of Exhibit F (a “Notice of Borrowing”) not later than 11:00 a.m.
(i) on the same Business Day as each Base Rate Loan and each Swingline Loan, (ii) at least three (3) Business Days before each LIBOR Rate Loan denominated in Dollars and (iii) at least four (4) Business Days before each LIBOR Rate Loan denominated in an Alternative Currency, of its intention to borrow, specifying (A) the date of such request by telephone borrowing, which shall be a Business Day, (aB) the amount of such borrowing, which shall be, (x) with respect to Base Rate Loans (other than Swingline Loans) in an aggregate principal amount of $1,000,000 or a whole multiple of $500,000 in excess thereof, (y) with respect to LIBOR Rate Loans in an aggregate principal amount of $1,000,000 or a whole multiple of $500,000 in excess thereof and (z) with respect to Swingline Loans in an aggregate principal amount of $500,000 or a whole multiple of $100,000 in excess thereof, (C) whether such Loan is to be a Revolving Credit Loan or Swingline Loan, (D) in the case of a Eurodollar Borrowing, not later than 11:00 a.m., New York City time, three Business Days before the date of the proposed Borrowing and (b) in the case of an ABR Borrowing, not later than 11:00 a.m., New York City time, on the date of the proposed Borrowing. 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 information in compliance with Section 2.02:
(i) the aggregate amount of the Borrowing;
(ii) the date of the Borrowing;
(iii) Revolving Credit Loan whether the Borrowing is Loans are to be an ABR Borrowing LIBOR Rate Loans or a Eurodollar Borrowing;
Base Rate Loans, (ivE) in the case of a Eurodollar BorrowingLIBOR Rate Loan, the initial duration of the Interest Period applicable thereto and (F) in the case of a LIBOR Rate Loan, whether such Loan is 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 to which funds are to be disbursed, which shall comply with the requirements of Section 2.04denominated in Dollars or an Alternative Currency. If no election as the Borrower fails to the Type specify a type of Borrowing is specified, then the Borrowing shall be Loan in a Eurodollar Borrowing. If no Interest Period is specified with respect to the Borrowing, if it is requested (or deemed requested) as a Eurodollar Notice of Borrowing, then the applicable Loans shall be made as Base Rate Loans. If the Borrower shall requests a borrowing of LIBOR Rate Loans in any such Notice of Borrowing, but fails to specify an Interest Period, it will be deemed to have selected specified an Interest Period of one month’s duration. Promptly following receipt If the Borrower requests a borrowing of a LIBOR Rate Loans in any such Notice of Borrowing, but fails to specify the currency, it will be deemed to have specified Dollars. A Notice of Borrowing Request in accordance with this Section, received after 11:00 a.m. shall be deemed received on the Administrative next Business Day. Agent shall advise promptly notify the Revolving Credit Lenders of each Lender Notice of the details thereof and of the amount of such Lender’s Loan to be made as part of the Borrowing.
Appears in 2 contracts
Samples: Credit Agreement (Quanex Building Products CORP), Credit Agreement (Quanex Building Products CORP)
Requests for Borrowing. To request the Borrowing, the The Borrower shall notify give the Administrative Agent irrevocable prior written notice substantially in the form of Exhibit B (a “Notice of Borrowing”) not later than 12:00 p.m.
(i) on the same Business Day as each Base Rate Loan and each Swingline Loan and (ii) at least three (3) U.S. Government Securities Business Days before each SOFR Loan, of its intention to borrow, specifying (A) the date of such request by telephone borrowing, which shall be a Business Day, (aB) the amount of such borrowing, which shall be, (x) with respect to Loans (other than Swingline Loans) in an aggregate principal amount of $1,000,000 or a whole multiple of $500,000 in excess thereof and (y) with respect to Swingline Loans in an aggregate principal amount of $100,000 or a whole multiple of $100,000 in excess thereof (or, in each case, the remaining amount of the Commitment or the Swingline Commitment, as applicable), (C) whether such Loan is to be a Revolving Credit Loan or Swingline Loan, (D) in the case of a Eurodollar Borrowing, not later than 11:00 a.m., New York City time, three Business Days before the date of the proposed Borrowing and (b) in the case of an ABR Borrowing, not later than 11:00 a.m., New York City time, on the date of the proposed Borrowing. 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 information in compliance with Section 2.02:
(i) the aggregate amount of the Borrowing;
(ii) the date of the Borrowing;
(iii) Revolving Credit Loan whether the Borrowing such Revolving Credit Loan is to be an ABR Borrowing a SOFR Loan or a Eurodollar Borrowing;
Base Rate Loan, and (ivE) in the case of a Eurodollar BorrowingSOFR Loan, the initial duration of the 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 to which funds are to be disbursed, which shall comply with the requirements of Section 2.04. If no election as the Borrower fails to the Type specify a type of Borrowing is specified, then the Borrowing shall be Loan in a Eurodollar Borrowing. If no Interest Period is specified with respect to the Borrowing, if it is requested (or deemed requested) as a Eurodollar Notice of Borrowing, then the applicable Loans shall be made as Base Rate Loans. If the Borrower shall requests a borrowing of SOFR Loans in any such Notice of Borrowing, but fails to specify an Interest Period, it will be deemed to have selected specified an Interest Period of one month’s duration. Promptly following receipt A Notice of a Borrowing Request in accordance with this Sectionreceived after 12:00 p.m. shall be deemed received on the next Business Day or U.S. Government Securities Business Day, the as applicable. The Administrative Agent shall advise promptly notify the Lenders of each Lender Notice of the details thereof and of the amount of such Lender’s Loan to be made as part of the Borrowing.
Appears in 2 contracts
Samples: Credit Agreement (Coca-Cola Consolidated, Inc.), Credit Agreement (Coca-Cola Consolidated, Inc.)
Requests for Borrowing. To request The Borrower Agent, on behalf of itself or the BorrowingCayman Borrower, the Borrower shall notify give the Administrative Agent irrevocable prior written notice substantially in the form of Exhibit B (a “Notice of Borrowing”) not later than 11:00 a.m.
(i) on the same Business Day as each Base Rate Loan and each Swingline Loan and (ii) at least three (3) Business Days before each LIBOR Rate Loan, of its intention to borrow, specifying (A) the date of such request by telephone borrowing, which shall be a Business Day, (aB) the amount of such borrowing, which shall be, (x) with respect to Base Rate Loans (other than Swingline Loans) in an aggregate principal amount of $3,000,000 or a whole multiple of $1,000,000 in excess thereof, (y) with respect to LIBOR Rate Loans in an aggregate principal amount of $5,000,000 or a whole multiple of $1,000,000 in excess thereof and (z) with respect to Swingline Loans in an aggregate principal amount of $500,000 or a whole multiple of $100,000 in excess thereof, (C) whether such Loan is to be a Revolving Credit Loan or Swingline Loan, (D) in the case of a Eurodollar BorrowingRevolving Credit Loan whether the Loans are to be LIBOR Rate Loans or Base Rate Loans, not later than 11:00 a.m., New York City time, three Business Days before (E) whether such Loan will be made to the date of Parent Borrower or the proposed Borrowing Cayman Borrower and (b) in the case of an ABR Borrowing, not later than 11:00 a.m., New York City time, on the date of the proposed Borrowing. 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 information in compliance with Section 2.02:
(i) the aggregate amount of the Borrowing;
(ii) the date of the Borrowing;
(iii) whether the Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(ivF) in the case of a Eurodollar BorrowingLIBOR Rate Loan, the initial duration of the 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 to which funds are to be disbursed, which shall comply with the requirements of Section 2.04. If no election as the Borrower Agent fails to the Type specify a type of Borrowing is specified, then the Borrowing shall be Loan in a Eurodollar Borrowing. If no Interest Period is specified with respect to the Borrowing, if it is requested (or deemed requested) as a Eurodollar Notice of Borrowing, then the applicable Loans shall be made as Base Rate Loans. If the Borrower shall Agent requests a Borrowing of LIBOR Rate Loans in any such Notice of Borrowing, but fails to specify an Interest Period, it will be deemed to have selected specified an Interest Period of one month’s duration. Promptly following receipt A Notice of a Borrowing Request in accordance with this Section, received after 11:00 a.m. shall be deemed received on the next Business Day. The Administrative Agent shall advise promptly notify the Revolving Credit Lenders of each Lender Notice of the details thereof and of the amount of such Lender’s Loan to be made as part of the Borrowing.
Appears in 2 contracts
Samples: Credit Agreement (Ubiquiti Networks, Inc.), Credit Agreement (Ubiquiti Networks, Inc.)
Requests for Borrowing. To (a) In order to request the a Revolving Credit Borrowing, the Borrower shall notify the Administrative Agent of such request either in writing by delivery of a Borrowing Request (by hand, electronic mail, or facsimile) signed by the Borrower or by telephone (ato be confirmed promptly by hand delivery, electronic mail, or facsimile of written notice) in the case of a Eurodollar Borrowing, not later than 11:00 a.m., New York City time, (A) in the case of a LIBO Rate Borrowing, three (3) Business Days before a proposed Revolving Credit Borrowing (or such later time on such Business Day as shall be acceptable to the date of the proposed Borrowing Agent) and (bB) in the case of an ABR Borrowing, not one (1) Business Day before a proposed Revolving Credit Borrowing (or such later than 11:00 a.m., New York City time, on time as shall be acceptable to the date of the proposed BorrowingAgent and each Lender). Such Each such telephonic and written 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 information in compliance with Section 2.022.01:
(i) the aggregate amount of the requested Revolving Credit Borrowing;
(ii) the date of the Revolving Credit Borrowing, which shall be a Business Day;
(iii) whether the Revolving Credit Borrowing then being requested is to be an Incremental Revolving Credit Borrowing, and whether such Revolving Credit Borrowing is to be an ABR Borrowing or a Eurodollar LIBO Rate Borrowing;
(iv) in the case of a Eurodollar LIBO Rate 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 to which funds are to be disbursed; provided, which however, that notwithstanding any contrary specification in any Borrowing Request, each requested Revolving Credit Borrowing shall comply with the requirements of set forth in Section 2.02 and Section 2.04. .
(b) If no election as to the Type of Revolving Credit Borrowing is specified, then the requested Revolving Credit Borrowing shall be a Eurodollar an ABR Borrowing. If no Interest Period is specified with respect to the Borrowing, if it is requested (or deemed requested) as a Eurodollar any LIBO Rate Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. Promptly following receipt of a the Borrowing Request in accordance with this SectionSection 2.03 (but in any event on the same day such Borrowing Request is received by the Agent), the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Revolving Loan to be made as part of the requested Revolving Credit Borrowing.
Appears in 2 contracts
Samples: Revolving Credit Agreement (Sunpower Corp), Revolving Credit Agreement (Sunpower Corp)
Requests for Borrowing. To request the Borrowing, the The Borrower shall notify give the Administrative Agent irrevocable prior written notice substantially in the form of Exhibit B (a “Notice of Borrowing”) not later than 12:00 noon (i) on the same Business Day as each Base Rate Loan and each Swingline Loan and (ii) at least three (3) Business Days before each LIBOR Rate Loan, of its intention to borrow, specifying (A) the date of such request by telephone borrowing, which shall be a Business Day, (aB) the amount of such borrowing, which shall be (x) with respect to Base Rate Loans (other than Swingline Loans), in an aggregate principal amount of $2,000,000 or a whole multiple of $1,000,000 in excess thereof, provided that any borrowing of Base Rate Loans may be in an aggregate amount that is equal to the entire unused balance of the Revolving Credit Commitment or that is required to finance the amount of a Reimbursement Obligation under a Letter of Credit, (y) with respect to LIBOR Rate Loans, in an aggregate principal amount of $5,000,000 or a whole multiple of $1,000,000 in excess thereof and (z) with respect to Swingline Loans, in an aggregate principal amount of $250,000 or a whole multiple of $100,000 in excess thereof, (C) whether such Loan is to be a Revolving Credit Loan or Swingline Loan, (D) in the case of a Eurodollar BorrowingRevolving Credit Loan, not later than 11:00 a.m., New York City time, three Business Days before the date of the proposed Borrowing and (b) in the case of an ABR Borrowing, not later than 11:00 a.m., New York City time, on the date of the proposed Borrowing. 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 information in compliance with Section 2.02:
(i) the aggregate amount of the Borrowing;
(ii) the date of the Borrowing;
(iii) whether the Borrowing such Loan is to be an ABR Borrowing a LIBOR Rate Loan or a Eurodollar Borrowing;
Base Rate Loan, and (ivE) in the case of a Eurodollar BorrowingLIBOR Rate Loan, the initial duration of the 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 to which funds are to be disbursed, which shall comply with the requirements of Section 2.04. If no election as the Borrower fails to the Type specify a type of Borrowing is specified, then the Borrowing shall be Loan in a Eurodollar Borrowing. If no Interest Period is specified with respect to the Borrowing, if it is requested (or deemed requested) as a Eurodollar Notice of Borrowing, then the applicable Loans shall be made as Base Rate Loans. If the Borrower shall requests a borrowing of LIBOR Rate Loans in any such Notice of Borrowing, but fails to specify an Interest Period, it will be deemed to have selected specified an Interest Period of one month’s duration. Promptly following receipt A Notice of a Borrowing Request in accordance with this Section, received after 12:00 noon shall be deemed received on the next Business Day. The Administrative Agent shall advise promptly notify the Revolving Credit Lenders of each Lender Notice of the details thereof and of the amount of such Lender’s Loan to be made as part of the Borrowing.
Appears in 2 contracts
Samples: Credit Agreement (Fossil Group, Inc.), Credit Agreement (Fossil Group, Inc.)
Requests for Borrowing. To In order to request the a Borrowing, the Borrower shall notify the Administrative Agent of such request by telephone (a) in the case of a Eurodollar Borrowing, not later than 11:00 a.m., New York City time, three Business Days before the date of the a proposed Borrowing Borrowing, and (b) in the case of an ABR Borrowing, not later than 11:00 a.m., New York City time, on the date of the one Business Day before a proposed Borrowing. Such Each such telephonic Borrowing Request shall be irrevocable irrevocable, and shall be confirmed promptly by hand delivery delivery, e-mail or telecopy fax 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 information in compliance with Section 2.02:
information: (i) the aggregate amount of the Borrowing;
(ii) the date of the Borrowing;
(iii) whether the Borrowing then being requested is to be a Borrowing of Initial Term Loans or a Borrowing of Incremental Loans and whether such Borrowing is to be a Eurodollar Borrowing or an ABR Borrowing or a Eurodollar Borrowing;
; (iviii) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition number and location of the term “Interest Period”; and
(v) the location and number of the Borrower’s account to which funds are to be disbursed; (iv) the amount of such Borrowing; and (v) if such Borrowing is to be a Eurodollar Borrowing, which the Interest Period with respect thereto; provided, however, that, notwithstanding any contrary specification in any Borrowing Request, each requested Borrowing shall comply with the requirements of set forth in Section 2.042.02. If no election as to the Type of Borrowing is specifiedspecified in any such notice, then the requested Borrowing shall be a Eurodollar an ABR Borrowing. If no Interest Period is specified with respect to the Borrowing, if it any Eurodollar Borrowing is requested (or deemed requested) as a Eurodollar Borrowingspecified in any such notice, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section, the The Administrative Agent shall promptly advise the applicable Lenders of any notice given pursuant to this Section 2.03 (and the contents thereof), and of each Lender Lender’s portion of the details thereof and requested Borrowing. For the avoidance of doubt, the notice of the amount initial Borrowings on the Closing Date may be conditional on the effectiveness of such Lender’s Loan to be made as part of the Borrowingthis Agreement.
Appears in 2 contracts
Samples: Credit Agreement (Office Depot Inc), Credit Agreement (Office Depot Inc)
Requests for Borrowing. To request the Borrowing, the The Borrower shall notify give the Administrative Agent irrevocable prior written notice substantially in the form of Exhibit B (a “Notice of Borrowing”) not later than 12:00 noon (i) on the same Business Day as each Base Rate Loan and each Swingline Loan and (ii) at least three (3) Business Days before each LIBOR Rate Loan, of its intention to borrow, specifying (A) the date of such request by telephone borrowing, which shall be a Business Day, (aB) the amount of such borrowing, which shall be (x) with respect to Base Rate Loans (other than Swingline Loans), in an aggregate principal amount of $2,000,000 or a whole multiple of $1,000,000 in excess thereof, provided that any borrowing of Base Rate Loans may be in an aggregate amount that is equal to the entire unused balance of the Revolving Credit Commitment or that is required to finance the amount of a Reimbursement Obligation under a Letter of Credit, (y) with respect to LIBOR Rate Loans, in an aggregate principal amount of $5,000,000 or a whole multiple of $1,000,000 in excess thereof and (z) with respect to Swingline Loans, in an aggregate principal amount of $250,000 or a whole multiple of $100,000 in excess thereof, (C) whether such Loan is to be a Revolving Credit Loan or Swingline Loan, (D) in the case of a Eurodollar BorrowingRevolving Credit Loan, not later than 11:00 a.m., New York City time, three Business Days before the date of the proposed Borrowing and (b) in the case of an ABR Borrowing, not later than 11:00 a.m., New York City time, on the date of the proposed Borrowing. 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 information in compliance with Section 2.02:
(i) the aggregate amount of the Borrowing;
(ii) the date of the Borrowing;
(iii) whether the Borrowing such Loan is to be an ABR Borrowing a LIBOR Rate Loan or a Eurodollar Borrowing;
Base Rate Loan, and (ivE) in the case of a Eurodollar BorrowingLIBOR Rate Loan, the initial duration of the 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 to which funds are to be disbursed, which shall comply with the requirements of Section 2.04. If no election as the Borrower fails to the Type specify a type of Borrowing is specified, then the Borrowing shall be Loan in a Eurodollar Borrowing. If no Interest Period is specified with respect to the Borrowing, if it is requested (or deemed requested) as a Eurodollar Notice of Borrowing, then the applicable Loans shall be made as Base Rate Loans. If the Borrower shall requests a Borrowing of LIBOR Rate Loans in any such Notice of Borrowing, but fails to specify an Interest Period, it will be deemed to have selected specified an Interest Period of one month’s duration. Promptly following receipt A Notice of a Borrowing Request in accordance with this Section, received after 12:00 noon shall be deemed received on the next Business Day. The Administrative Agent shall advise promptly notify the Revolving Credit Lenders of each Lender Notice of the details thereof and of the amount of such Lender’s Loan to be made as part of the Borrowing.
Appears in 2 contracts
Samples: Credit Agreement (Fossil Group, Inc.), Credit Agreement (Fossil Inc)
Requests for Borrowing. To request Parent, on behalf of the BorrowingApplicable Borrower, shall give the Borrower shall notify the Administrative Agent of such request by telephone (a) Lender irrevocable prior written notice substantially in the case form of Exhibit B (a Eurodollar “Notice of Borrowing, ”) not later than 11:00 a.m.1:00 p.m.
(i) on the same Business Day as each Base Rate Loan, New York City time, (ii) at least three (3) Business Days before the date of the proposed Borrowing each LIBOR Rate Loan denominated in Dollars, Euros or Sterling and (biii) at least four (4) Business Days before each Loan denominated in the case any other Foreign Currency, of an ABR Borrowingits intention to borrow, not later than 11:00 a.m., New York City time, on the date of the proposed Borrowing. 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 information in compliance with Section 2.02specifying:
(i) the aggregate amount of the BorrowingApplicable Borrower requesting such borrowing;
(ii) the date of the Borrowingsuch borrowing, which shall be a Business Day;
(iii) whether if such Loan is a Foreign Currency Loan, the Borrowing applicable Foreign Currency in which such Loan is to be an ABR Borrowing or a Eurodollar Borrowingfunded;
(iv) if such Loan is a Loan denominated in Dollars, whether such Loan shall be a LIBOR Rate Loan or a Base Rate Loan;
(v) if such Loan is a LIBOR Rate Loan, the duration of the Interest Period applicable thereto; and
(vi) the amount of such borrowing, which shall be, (A) with respect to Base Rate Loans in an aggregate principal amount of $500,000 or a whole multiple of $500,000 in excess thereof or (B) with respect to LIBOR Rate Loans in an aggregate principal amount of $500,000 or a whole multiple of $500,000 in excess thereof (or, in the case of borrowings denominated in a Eurodollar BorrowingForeign Currency, in such increments as the initial Interest Period Lender may from time 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 to which funds are to be disbursed, which shall comply with the requirements of Section 2.04time determine). If no election as Parent fails to specify a currency in the Type Notice of Borrowing is specifiedrequesting a Loan, then the Borrowing Loan so requested shall be a Eurodollar Borrowingmade in Dollars. If no Interest Period is specified A Notice of Borrowing received after 1:00 p.m. shall be deemed received on the next Business Day. Notwithstanding any provision herein to the contrary, Parent and the Lender may agree that the Revolving Credit Facility may or may not be used to automatically draw and repay Daily One Month LIBOR Loans (subject to the limitations set forth herein) pursuant to cash management arrangements between Parent and the Lender (the “Sweep Arrangement”). Principal and interest on Daily One Month LIBOR Loans deemed requested pursuant to the Sweep Arrangement shall be paid pursuant to the terms and conditions set forth herein. The borrowing and disbursement provisions set forth in this Section 2.3 and any other provision hereof with respect to the Borrowing, if it is requested (timing or deemed requested) as a Eurodollar Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. Promptly following receipt of a 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 payments on the Daily One Month LIBOR Loans (other than Section 2.4(a)) shall not be applicable to be made as part of the BorrowingDaily One Month LIBOR Loans.
Appears in 2 contracts
Samples: Credit Agreement (Twin Disc Inc), Credit Agreement (Twin Disc Inc)
Requests for Borrowing. To request the Borrowing, the The Borrower shall notify give the Administrative Agent irrevocable prior written notice substantially in the form of Exhibit B (a “Notice of Borrowing”) not later than 12:00 p.m.
(i) on the same Business Day as each Base Rate Loan and each Swingline Loan and (ii) at least three (3) Business Days before each LIBOR Rate Loan (or, in the case of any LIBOR Rate Loans to be borrowed on the Closing Date, such shorter period of time as may be agreed to by the Administrative Agent and the Lenders), of its intention to borrow, specifying (A) the date of such request by telephone borrowing, which shall be a Business Day, (aB) the amount of such borrowing, which shall be, (x) with respect to Base Rate Loans (other than Swingline Loans) in an aggregate principal amount of $3,000,000 or a whole multiple of $1,000,000 in excess thereof, (y) with respect to LIBOR Rate Loans in an aggregate principal amount of $5,000,000 or a whole multiple of $1,000,000 in excess thereof and (z) with respect to Swingline Loans in an aggregate principal amount of $500,000 or a whole multiple of $100,000 in excess thereof, (C) whether such Loan is to be a Revolving Credit Loan or Swingline Loan, (D) in the case of a Eurodollar BorrowingRevolving Credit Loan whether the Loans are to be LIBOR Rate Loans or Base Rate Loans, not later than 11:00 a.m., New York City time, three Business Days before the date of the proposed Borrowing and (b) in the case of an ABR Borrowing, not later than 11:00 a.m., New York City time, on the date of the proposed Borrowing. 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 information in compliance with Section 2.02:
(i) the aggregate amount of the Borrowing;
(ii) the date of the Borrowing;
(iii) whether the Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(ivE) in the case of a Eurodollar BorrowingLIBOR Rate Loan, the initial duration of the 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 to which funds are to be disbursed, which shall comply with the requirements of Section 2.04. If no election as the Borrower fails to the Type specify a type of Borrowing is specified, then the Borrowing shall be Loan in a Eurodollar Borrowing. If no Interest Period is specified with respect to the Borrowing, if it is requested (or deemed requested) as a Eurodollar Notice of Borrowing, then the applicable Loans shall be made as Base Rate Loans. If the Borrower shall requests a borrowing of LIBOR Rate Loans in any such Notice of Borrowing, but fails to specify an Interest Period, it will be deemed to have selected specified an Interest Period of one month’s duration. Promptly following receipt A Notice of a Borrowing Request in accordance with this Section, received after 12:00 p.m. shall be deemed received on the next Business Day. The Administrative Agent shall advise promptly notify the Revolving Credit Lenders of each Lender Notice of the details thereof and of the amount of such Lender’s Loan to be made as part of the Borrowing.
Appears in 2 contracts
Samples: Credit Agreement (Realpage Inc), Credit Agreement (Realpage Inc)
Requests for Borrowing. To (a) In order to request the Borrowinga Borrowing (other than a Swingline Loan or a deemed Borrowing pursuant to Section 2.02(e), as to which this Section 2.03 shall not apply), the Borrower shall notify the Administrative Agent of such request either in writing by delivery of a Borrowing Request (by hand or facsimile) signed by the Borrower or by telephone (ato be confirmed promptly by hand delivery or facsimile of written notice) in the case of a Eurodollar Borrowing, not later than (x) 11:00 a.m., New York City time, three Business Days before the date of the proposed Borrowing and (bA) in the case of an ABR a Term SOFR Borrowing, not three (3) U.S. Government Securities Business Days before a proposed Borrowing (or such later than time as shall be acceptable to the Agent) and (B) in the case of a Eurocurrency Borrowing denominated in an Alternative Currency or a XXXXX Rate Loan, four Business Days before a proposed Borrowing (or such later time as shall be acceptable to the Agent) and (y) 11:00 a.m., New York City time, on the date of a proposed Borrowing (or such later time as shall be acceptable to the proposed Agent), in the case of an ABR Borrowing. Such Each such telephonic and written 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 information in compliance with Section 2.022.01:
(i) the aggregate amount of the requested Borrowing;
(ii) the date of the Borrowing, which shall be a Business Day;
(iii) whether the Borrowing then being requested is to be a Tranche J Term Borrowing, an Incremental Term Borrowing, a Dollar Revolving Borrowing, a Multicurrency Revolving Borrowing or an Incremental Revolving Credit Borrowing, and whether such Borrowing is to be an ABR Borrowing, a Eurocurrency Borrowing or a Eurodollar Term SOFR Borrowing, as applicable;
(iv) in the case of a Eurodollar Eurocurrency Borrowing or a Term SOFR Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
(v) in the case of a Multicurrency Revolving Borrowing, the currency in which such Borrowing is to be denominated; and
(vvi) the location and number of the Borrower’s account to which funds are to be disbursed; provided, which however, that notwithstanding any contrary specification in any Borrowing Request, each requested Borrowing shall comply with the requirements of set forth in Section 2.02 and Section 2.04. .
(b) If no election as to the Type of Borrowing is specified, then the requested Borrowing, if denominated in Dollars, shall be an ABR Borrowing and if denominated in any other currency, shall be a Eurodollar BorrowingEurocurrency Borrowing with an Interest Period of one month. If no Interest Period is specified with respect to the Borrowing, if it is requested (any Eurocurrency Borrowing or deemed requested) as a Eurodollar Term SOFR Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. If no currency is specified then the requested Borrowing shall be denominated in Dollars. Promptly following receipt of a 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 LenderXxxxxx’s Loan to be made as part of the requested Borrowing.
Appears in 2 contracts
Samples: Loan Modification Agreement (TransDigm Group INC), Incremental Revolving Credit Assumption Agreement (TransDigm Group INC)
Requests for Borrowing. To request the Borrowing, the Borrower shall notify the Administrative Agent of such request by telephone or delivery to the Administrative Agent of a Borrowing Request by facsimile transmission or electronic mail; provided that any telephonic notice must be confirmed immediately by delivery to the Administrative Agent of a Borrowing Request by facsimile transmission or electronic mail. Each such notice must be received (a) in the case of a Eurodollar Borrowing, not later than 11:00 a.m.1:00 p.m., New York City time, three (3) Business Days before the date of the proposed Borrowing and or (b) in the case of an ABR Borrowing, not later than 11:00 a.m.1:00 p.m., New York City time, on the date of the proposed Borrowing; provided, however, that if the Borrower wishes to request Eurodollar Loans having an Interest Period other than seven days, one, two, three or six months in duration as provided in the definition of “Interest Period,” the applicable notice must be received by the Administrative Agent not later than 11:00 a.m. four Business Days prior to the requested date of such Borrowing, conversion or continuation, whereupon the Administrative Agent shall give prompt notice to the Lenders of such request and determine whether the requested Interest Period is acceptable to all of them. Such telephonic Not later than 11:00 a.m., three Business Days before the requested date of Borrowing or of such conversion or continuation, the Administrative Agent shall notify the Borrower (which notice may be by telephone) whether or not the requested Interest Period has been consented to by all the Lenders. Each such 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 Borrowerirrevocable. Such Each such telephonic and written Borrowing Request shall specify the following information in compliance with Section 2.02:
(i) the aggregate amount of the requested Borrowing;
(ii) the date of the Borrowing, which shall be a Business Day;
(iii) whether the Borrowing is to be an consist of ABR Borrowing Loans or a Eurodollar BorrowingLoans;
(iv) in the case the Borrowing consists of a Eurodollar BorrowingLoans, 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 to which funds are to be disbursed, which shall comply with the requirements of Section 2.042.07. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar an ABR Borrowing. If no Interest Period is specified with respect to the Borrowing, if it is any requested (or deemed requested) as a Eurodollar Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. Promptly following receipt of a 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: Term Loan Credit Agreement (Southwestern Energy Co), Term Loan Credit Agreement (Southwestern Energy Co)
Requests for Borrowing. To request the Borrowing, the The Borrower shall notify give the Administrative Agent irrevocable prior written notice substantially in the form of Exhibit B (a “Notice of Borrowing”) not later than 11:00 a.m.
(i) on the same Business Day as each Base Rate Loan and each Swingline Loan and (ii) at least three (3) Business Days before each LIBOR Rate Loan, of its intention to borrow, specifying (A) the date of such request by telephone borrowing, which shall be a Business Day, (aB) the amount of such borrowing, which shall be, (x) with respect to Base Rate Loans (other than Swingline Loans) in an aggregate principal amount of $3,000,000 or a whole multiple of $1,000,000 in excess thereof, (y) with respect to LIBOR Rate Loans in an aggregate principal amount of $5,000,000 or a whole multiple of $1,000,000 in excess thereof and (z) with respect to Swingline Loans in an aggregate principal amount of $500,000 or a whole multiple of $100,000 in excess thereof, (C) whether such Loan is to be a Revolving Credit Loan or Swingline Loan, (D) in the case of a Eurodollar BorrowingRevolving Credit Loan whether the Loans are to be LIBOR Rate Loans or Base Rate Loans, not later than 11:00 a.m., New York City time, three Business Days before the date of the proposed Borrowing and (b) in the case of an ABR Borrowing, not later than 11:00 a.m., New York City time, on the date of the proposed Borrowing. 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 information in compliance with Section 2.02:
(i) the aggregate amount of the Borrowing;
(ii) the date of the Borrowing;
(iii) whether the Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(ivE) in the case of a Eurodollar BorrowingLIBOR Rate Loan, the initial duration of the Interest Period to be applicable thereto; provided that if the Borrower wishes to request LIBOR Rate Loans having an Interest Period of twelve months in duration, which shall such notice must be a period contemplated received by the definition of the term “Interest Period”; and
Administrative Agent not later than 11:00 a.m. four (v4) the location and number of the Borrower’s account to which funds are to be disbursed, which shall comply with the requirements of Section 2.04. If no election as Business Days prior to the Type requested date of Borrowing is specifiedsuch borrowing, then whereupon the Borrowing Administrative Agent shall be a Eurodollar Borrowing. If no give prompt notice to the Revolving Credit Lenders of such request and determine whether the requested Interest Period is specified with respect acceptable to all of them. If the Borrowing, if it is requested (or deemed requested) as Borrower fails to specify a Eurodollar type of Loan in a Notice of Borrowing, then the applicable Loans shall be made as Base Rate Loans. If the Borrower shall requests a Borrowing of LIBOR Rate Loans in any such Notice of Borrowing, but fails to specify an Interest Period, it will be deemed to have selected specified an Interest Period of one month’s duration. Promptly following receipt A Notice of a Borrowing Request in accordance with this Section, received after 11:00 a.m. shall be deemed received on the next Business Day. The Administrative Agent shall advise promptly notify the Revolving Credit Lenders of each Lender Notice of the details thereof and of the amount of such Lender’s Loan to be made as part of the Borrowing.
Appears in 2 contracts
Samples: Credit Agreement (Copart Inc), Credit Agreement (Copart Inc)
Requests for Borrowing. To request the Borrowing, the The Borrower shall notify give the Administrative Agent irrevocable prior written notice substantially in the form of Exhibit 2.03(a) (a “Notice of Borrowing”) not later than 11:00 a.m.
(i) on the same Business Day as each Base Rate Loan and each Swingline Loan and (ii) at least three (3) Business Days before each LIBOR Rate Loan, of its intention to borrow, specifying (A) the date of such request by telephone borrowing, which shall be a Business Day, (aB) the amount of such borrowing, which shall be, (x) with respect to Base Rate Loans (other than Swingline Loans) in an aggregate principal amount of $3,000,000 or a whole multiple of $1,000,000 in excess thereof (or, if less, the remaining available amount of the Revolving Credit Commitment), (y) with respect to LIBOR Rate Loans in an aggregate principal amount of $5,000,000 or a whole multiple of $1,000,000 in excess thereof (or, if less, the remaining available amount of the Revolving Credit Commitment) and (z) with respect to Swingline Loans in an aggregate principal amount of $500,000 or a whole multiple of $100,000 in excess thereof (or, if less, the remaining available amount of the Swingline Commitment), (C) whether such Loan is to be a Revolving Credit Loan or Swingline Loan, (D) in the case of a Eurodollar Borrowing, not later than 11:00 a.m., New York City time, three Business Days before the date of the proposed Borrowing and (b) in the case of an ABR Borrowing, not later than 11:00 a.m., New York City time, on the date of the proposed Borrowing. 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 information in compliance with Section 2.02:
(i) the aggregate amount of the Borrowing;
(ii) the date of the Borrowing;
(iii) Revolving Credit Loan whether the Borrowing such Loan is to be an ABR Borrowing a LIBOR Rate Loan or a Eurodollar Borrowing;
Base Rate Loan, and (ivE) in the case of a Eurodollar BorrowingLIBOR Rate Loan, the initial duration of the 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 to which funds are to be disbursed, which shall comply with the requirements of Section 2.04. If no election as the Borrower fails to the Type specify a type of Borrowing is specified, then the Borrowing shall be Loan in a Eurodollar Borrowing. If no Interest Period is specified with respect to the Borrowing, if it is requested (or deemed requested) as a Eurodollar Notice of Borrowing, then the applicable Loans shall be made as Base Rate Loans. If the Borrower shall requests a Borrowing of LIBOR Rate Loans in any such Notice of Borrowing, but fails to specify an Interest Period, it will be deemed to have selected specified an Interest Period of one month’s duration. Promptly following receipt A Notice of a Borrowing Request in accordance with this Section, received after 11:00 a.m. shall be deemed received on the next Business Day. The Administrative Agent shall advise promptly notify the Lenders of each Lender Notice of the details thereof and of the amount of such Lender’s Loan to be made as part of the Borrowing.
Appears in 2 contracts
Samples: Credit Agreement (Salesforce Com Inc), Credit Agreement (Salesforce Com Inc)
Requests for Borrowing. To request the Borrowing, the Borrower shall notify the Administrative Agent of such request by telephone telephone, facsimile transmission or electronic mail (a) in the case of a Eurodollar Borrowing, not later than 11:00 a.m.1:00 p.m., New York City time, three (3) Business Days before the date of the proposed Borrowing and or (b) in the case of an ABR Borrowing, not later than 11:00 a.m.1:00 p.m., New York City time, on the date of the proposed Borrowing; provided, however, that if the Borrower wishes to request Eurodollar Loans having an Interest Period other than seven days, one, two, three or six months in duration as provided in the definition of “Interest Period,” the applicable notice must be received by the Administrative Agent not later than 11:00 a.m. four Business Days prior to the requested date of such Borrowing, conversion or continuation, whereupon the Administrative Agent shall give prompt notice to the Lenders of such request and determine whether the requested Interest Period is acceptable to all of them. Such telephonic Not later than 11:00 a.m., three Business Days before the requested date of Borrowing or of such conversion or continuation, the Administrative Agent shall notify the Borrower (which notice may be by telephone) whether or not the requested Interest Period has been consented to by all the Lenders. Each such Borrowing Request shall be irrevocable and and, in the case of a telephonic Borrowing Request, shall be confirmed promptly by hand delivery delivery, facsimile transmission or telecopy electronic mail to the Administrative Agent of a written Borrowing Request in a form approved by the Administrative Agent and signed by the applicable Borrower. Such Each such telephonic and written Borrowing Request shall specify the following information in compliance with Section 2.02:
(i) the aggregate amount of the requested Borrowing;
(ii) the date of the Borrowing, which shall be a Business Day;
(iii) whether the Borrowing is to be an consist of ABR Borrowing Loans or a Eurodollar BorrowingLoans;
(iv) in the case the Borrowing consists of a Eurodollar BorrowingLoans, 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 applicable Borrower’s account to which funds are to be disbursed, which shall comply with the requirements of Section 2.042.07. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar an ABR Borrowing. If no Interest Period is specified with respect to the Borrowing, if it is any requested (or deemed requested) as a Eurodollar Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. Promptly following receipt of a 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: Term Loan Credit Agreement (Southwestern Energy Co), Bridge Term Loan Credit Agreement (Southwestern Energy Co)
Requests for Borrowing. To request the a Borrowing, the Borrower shall notify the Administrative Agent of such request by telephone or by telecopy (a) in the case of a Eurodollar Eurocurrency Borrowing, not later than 11:00 a.m., New York City time, three Business Days before the date of the proposed Borrowing and or (b) in the case of an ABR Borrowing, not later than 11:00 a.m., New York City time, on the date Business Day of the proposed Borrowing. Such telephonic Borrowing Request shall be irrevocable and and, if telephonic, shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written Borrowing Request in a form approved agreed to by the Administrative Agent and the Borrower and signed by the Borrower; provided that a Borrowing Request may be revoked by the Borrower (by notice to the Administrative Agent at any time prior to 9:00 a.m., New York City time, on the day of the proposed Borrowing), such revocation to be subject to Section 2.16 in the case of a Borrowing Request for a Eurocurrency Borrowing. Such Each such telephonic and written Borrowing Request shall specify the following information with respect to each Borrowing in compliance with Section 2.02:
(i) the aggregate principal amount of the requested Borrowing;
(ii) the date of the such Borrowing, which shall be a Business Day;
(iii) whether the Borrowing is to be an ABR Borrowing or a Eurodollar Type of the requested Borrowing;
(iv) in the case of a Eurodollar Eurocurrency 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 to which funds are to be disbursed, which shall comply with the requirements of Section 2.042.07. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar an ABR Borrowing. If no Interest Period is specified with respect to the Borrowing, if it is any requested (or deemed requested) as a Eurodollar Eurocurrency Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. Promptly following receipt of a 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
Requests for Borrowing. To request the a Revolving Borrowing or Term Borrowing, the Borrower shall notify the Administrative Agent of such request by telephone (a) in the case of a Eurodollar Borrowing, not later than 11:00 a.m.3:00 p.m., New York City time, three Business Days before the date of the proposed Borrowing and or (b) in the case of an ABR Borrowing, not later than 11:00 10:30 a.m., New York City time, on the day of the proposed Borrowing; provided that any such notice of an ABR Borrowing to finance reimbursement of an LC Disbursement as contemplated by Section 2.04(e) may be given not later than 10:00 a.m., New York City time, on the date of the proposed Borrowing. Such Each 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 Each such telephonic and written Borrowing Request shall specify the following information in compliance with Section 2.02:
(i) the aggregate amount Class of the requested Borrowing;
(ii) the date aggregate amount of the requested Borrowing;
(iii) the date of such Borrowing, which shall be a Business Day;
(iv) whether the such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(ivv) 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
(vvi) the location and number of the Borrower’s 's account to which funds are to be disbursed, which shall comply with the requirements of Section 2.042.05. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar an ABR Borrowing. If no Interest Period is specified with respect to the Borrowing, if it is any requested (or deemed requested) as a Eurodollar Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s 's duration. Promptly following receipt of a 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 's Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Samples: Term Loan and Revolving Credit Agreement (Goodyear Tire & Rubber Co /Oh/)
Requests for Borrowing. To request the a Revolving Borrowing or Term Borrowing, the Borrower shall notify the Administrative Agent of such request by telephone (a) in the case of a Eurodollar Borrowing, not later than 11:00 a.m.3:00 p.m., New York City time, three Business Days before the date of the proposed Borrowing and or (b) in the case of an ABR Borrowing, not later than 11:00 10:30 a.m., New York City time, on the date day of the proposed Borrowing. Such Each 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 Each such telephonic and written Borrowing Request shall specify the following information in compliance with Section 2.02:
(i) whether the aggregate amount of the requested Borrowing is to be a Revolving Borrowing or a Term Loan Borrowing;
(ii) the date aggregate amount of the requested Borrowing;
(iii) the date of such Borrowing, which shall be a Business Day;
(iv) whether the such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(ivv) 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
(vvi) the location and number of the Borrower’s 's account to which funds are to be disbursed, which shall comply with the requirements of Section 2.04. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar an ABR Borrowing. If no Interest Period is specified with respect to the Borrowing, if it is any requested (or deemed requested) as a Eurodollar Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s 's duration. Promptly following receipt of a 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 's Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Samples: Term Loan and Revolving Credit Agreement (Goodyear Tire & Rubber Co /Oh/)
Requests for Borrowing. To request the Borrowing, the The Borrower shall notify give the Administrative Agent irrevocable prior written notice substantially in the form attached hereto as Exhibit B (a “Notice of Borrowing”) not later than 11:00 a.m. Local Time (i) on the same Business Day as each Base Rate Loan and each Swingline Loan, (ii) at least three (3) Business Days before each LIBOR Rate Loan under the Dollar Tranche or if in respect of Delayed Draw Term Loans or Incremental Term Loans, and (iii) at least four (4) Business Days before each Loan under the Designated Currency Tranche, of its intention to borrow, specifying (A) the date of such request by telephone borrowing, which shall be a Business Day, (aB) the amount of such borrowing, which shall be, (x) with respect to Base Rate Loans (other than Swingline Loans) in an aggregate principal amount of $1,000,000 or a whole multiple of $100,000 in excess thereof, (y) with respect to LIBOR Rate Loans in an aggregate principal Dollar Amount of $2,500,000 or a whole multiple of $100,000 in excess thereof and (z) with respect to Swingline Loans in an aggregate principal amount of $100,000 or a whole multiple of $100,000 in excess thereof, (C) whether such Loan is to be a Dollar Tranche Revolving Credit Loan, a Designated Currency Tranche Revolving Credit Loan, a Delayed Draw Term Loan, or a Swingline Loan, (D) in the case of a Eurodollar BorrowingDollar Tranche Revolving Credit Loan or a Delayed Draw Term Loan, not later than 11:00 a.m., New York City time, three Business Days before the date of the proposed Borrowing and (b) in the case of an ABR Borrowing, not later than 11:00 a.m., New York City time, on the date of the proposed Borrowing. 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 information in compliance with Section 2.02:
(i) the aggregate amount of the Borrowing;
(ii) the date of the Borrowing;
(iii) whether the Borrowing is Loans are to be an ABR Borrowing LIBOR Rate Loans or a Eurodollar Borrowing;
Base Rate Loans, (ivE) in the case of a Eurodollar BorrowingLIBOR Rate Loan, the initial duration of the Interest Period to be applicable thereto, which and (F) in the case of a Designated Currency Tranche Revolving Credit Loan, the Agreed Currency thereof. The Base Rate shall not be a period contemplated by available under the definition of the term “Interest Period”; and
(v) the location and number of the Borrower’s account to which funds are to be disbursed, which shall comply with the requirements of Section 2.04Designated Currency Tranche. If no election as to the Type A Notice of Borrowing is specified, then the Borrowing shall be a Eurodollar Borrowing. If no Interest Period is specified with respect to the Borrowing, if it is requested (or deemed requested) as a Eurodollar Borrowing, then the Borrower received after 11:00 a.m. Local Time shall be deemed to have selected an Interest Period of one month’s durationreceived on the next Business Day. Promptly following receipt of a Borrowing Request in accordance with this Section, the The Administrative Agent shall advise promptly notify the appropriate Lenders of each Lender Notice of the details thereof and of the amount of such Lender’s Loan to be made as part of the Borrowing.
Appears in 1 contract
Samples: Credit Agreement (Blackbaud Inc)
Requests for Borrowing. To request the Borrowingborrowing of Loans on the Closing Date, the Borrower shall notify deliver a written Borrowing Request signed by the Borrower to the Administrative Agent of such request by telephone (a) in the case of a Eurodollar Borrowing, not later than 11:00 a.m., New York City time, three two (2) Business Days before the date of the proposed Borrowing and (b) borrowing in the case of an ABR Borrowing, a LIBOR Borrowing and not later than 11:00 8:00 a.m., New York City time, on the date Closing Date in the case of the proposed an ABR Borrowing. Such telephonic Borrowing Request shall be irrevocable revocable subject to compensation of each Lender for its loss, cost and shall be confirmed promptly by hand delivery or telecopy expense attributable to the Administrative Agent of a written such Borrowing Request in a form approved by the Administrative Agent and signed by the Borroweraccordance with Section 2.14. Such telephonic and written Each such Borrowing Request shall specify the following information in compliance with Section 2.02:
(i) the aggregate amount of the requested Borrowing;
(ii) the date of the such Borrowing, which shall be a Business Day;
(iii) whether the such Borrowing is to be an ABR Borrowing or a Eurodollar LIBOR Borrowing;
(iv) in the case of a Eurodollar LIBOR Borrowing, the initial Interest Period to be applicable theretotherefor, which shall be a period contemplated by the definition of the term “Interest Period”” and permitted under Section 2.02(c); and
(v) the location and number of the Borrower’s account to which funds are to be disbursed, which shall comply with the requirements of Section 2.042.05. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar an ABR Borrowing. If no Interest Period is specified with respect to the any requested LIBOR Borrowing, if it is requested (or deemed requested) as a Eurodollar Borrowing, then the Borrower shall will be deemed to have selected an Interest Period of one month’s duration. Promptly following receipt of a 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
Requests for Borrowing. To request the a Borrowing, the Borrower shall notify the Administrative Agent of such request by telephone (a) in the case of a Eurodollar Borrowing, not later than 11:00 a.m.3:00 p.m., New York City time, three Business Days before the date of the proposed Borrowing and or (b) in the case of an ABR Borrowing, not later than 11:00 10:30 a.m., New York City time, on the date day of the proposed Borrowing; provided that if at any time an LC Disbursement denominated in dollars shall be made in an amount at least equal to the applicable minimum borrowing amount, a notice of an ABR Borrowing to finance the reimbursement of such LC Disbursement shall be deemed to have been timely given as contemplated by Section 2.04(e) unless the Borrower shall have given notice to the contrary to the Administrative Agent not later than 10:00 a.m., New York City time, on the Business Day next following the date on which the Borrower shall have been notified of such LC Disbursement. Such Each 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; and provided further that not more than three DF Borrowings (other than Borrowings contemplated by Section 2.04(e) and other than Borrowings resulting from new interest elections under Section 2.06 with respect to outstanding Borrowings) may be requested pursuant to this Section 2.03 during any calendar month. Such Each such telephonic and written Borrowing Request shall specify the following information in compliance with Section 2.02:
(i) the aggregate amount Class of the requested Borrowing;
(ii) the date aggregate amount of the requested Borrowing;
(iii) the date of such Borrowing, which shall be a Business Day;
(iv) whether the such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(ivv) 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
(vvi) the location and number of the Borrower’s account to which funds are to be disbursed, which shall comply with the requirements of Section 2.042.05. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar an ABR Borrowing. If no Interest Period is specified with respect to the Borrowing, if it is any requested (or deemed requested) as a Eurodollar Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. Promptly following receipt of a 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: First Lien Credit Agreement (Goodyear Tire & Rubber Co /Oh/)
Requests for Borrowing. To (a) In order to request the Borrowinga Borrowing (other than a Swingline Loan or a deemed Borrowing pursuant to Section 2.02(e), as to which this Section 2.03 shall not apply), the Borrower shall notify the Administrative Agent of such request either in writing by delivery of a Borrowing Request (by hand or facsimile) signed by the Borrower or by telephone (ato be confirmed promptly by hand delivery or facsimile of written notice) in the case of a Eurodollar Borrowing, not later than 11:00 a.m., New York City time, (A) in the case of a LIBO Rate Borrowing, three (3) Business Days before the date of the a proposed Borrowing (or such later time as shall be acceptable to the Agent) and (bB) in the case of an ABR Borrowing, not one (1) Business Day before a proposed Borrowing (or such later than 11:00 a.m., New York City time, on time as shall be acceptable to the date of the proposed BorrowingAgent). Such Each such telephonic and written 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 information in compliance with Section 2.022.01:
(i) the aggregate amount of the requested Borrowing;
(ii) the date of the Borrowing, which shall be a Business Day;
(iii) whether the Borrowing then being requested is to be a Tranche B Term Borrowing, a Tranche C Term Borrowing, an Incremental Term Borrowing, a Revolving Borrowing or an Incremental Revolving Credit Borrowing, and whether such Borrowing is to be an ABR Borrowing or a Eurodollar LIBO Rate Borrowing;
(iv) in the case of a Eurodollar LIBO Rate 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 to which funds are to be disbursed; provided, which however, that notwithstanding any contrary specification in any Borrowing Request, each requested Borrowing shall comply with the requirements of set forth in Section 2.02 and Section 2.04. .
(b) If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar an ABR Borrowing. If no Interest Period is specified with respect to the Borrowing, if it is requested (or deemed requested) as a Eurodollar any LIBO Rate Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. Promptly following receipt of a 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
Requests for Borrowing. To request the Borrowing, the (a) The Borrower shall notify give the Administrative Agent of such request irrevocable telephonic notice, confirmed immediately by telephone telecopy (a) in the case of a Eurodollar Borrowing"Borrowing Request"), not later than 11:00 a.m., 10:30 A.M. (New York City time, three Business Days before the date of the proposed Borrowing and (b) in the case of an ABR Borrowing, not later than 11:00 a.m., New York City time, on the date first Business Day of any calendar month during the proposed Borrowing. Such telephonic Availability Period during which a Borrowing Request shall is proposed, and no more than one Borrowing may 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 information in compliance with Section 2.02requested during any single calendar month:
(i) specifying the aggregate amount proposed date of the such Borrowing, which shall be a Business Day;
(ii) stating the date aggregate amount of the such Borrowing;; and
(iii) whether certifying that the Boards of Directors of the Borrower and each of the Parent Guarantors have specifically approved the proposed Borrowing is to be an ABR and the guaranty of the repayment thereof. The Borrower may submit its initial Borrowing or a Eurodollar Borrowing;Request concurrently with the closing hereunder.
(ivb) 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 to which funds are to be disbursed, which shall comply with the requirements of Section 2.04. If no election as to the Type of Borrowing is specified, then the Borrowing shall be a Eurodollar Borrowing. If no Interest Period is specified with respect to the Borrowing, if it is requested (or deemed requested) as a Eurodollar Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. Promptly following the receipt of a 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 's Loan to be made as part of the requested Borrowing.
(c) Each Lender shall make each Loan to be made by it hereunder on the proposed date thereof by wire transfer of immediately available funds by 5:00 PM, New York City time, to the Disbursement Account; provided, however, that the failure by any one Lender to fund its ratable share of any Borrowing shall not increase the amount that any other Lender is obligated to fund for any Borrowing hereunder. The Administrative Agent will make each Loan available to the Borrower by promptly crediting the amounts so received, in like finds, to an account of the Borrower maintained with the Administrative Agent in New York City and designated by the Borrower in the applicable Borrowing Request.
(d) Unless the Administrative Agent shall have received notice from a Lender prior to the proposed date of any Borrowing that such Lender will not make available to the Administrative Agent such Lender's share of such Borrowing, the Administrative Agent may assume that such Lender has made such share available on such date in accordance with paragraph (c) of this Section and may, in reliance upon such assumption, make available to the Borrower a corresponding amount. In such event, if a Lender has not in fact made its share of the applicable Borrowing available to the Administrative Agent, then the applicable Lender agrees to pay to the Administrative Agent forthwith on demand such corresponding amount with interest thereon, for each day from and including the date such amount is made available to the Borrower to but excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds Effective Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation. If such Lender pays such amount to the Administrative Agent, then such amount shall constitute such Lender's Loan included in such Borrowing. In the event that the Lender has not made its share of the applicable Borrowing available to the Administrative Agent within 30 days, then such amount, together with interest thereon at the Federal Funds Effective Rate, shall be payable by the Borrower upon demand from the Administrative Agent.
Appears in 1 contract
Samples: Term Credit Agreement (Motient Corp)
Requests for Borrowing. To request the Borrowing, the The Borrower shall notify give the Administrative Agent irrevocable prior written notice substantially in the form of Exhibit B (a “Notice of Borrowing”) not later than 11:00 a.m.
(i) on the same Business Day as each Base Rate Loan and each Swingline Loan and (ii) at least three (3) U.S. Government Securities Business Days before each LIBOR RateSOFR Loan, of its intention to borrow, specifying (A) the date of such request by telephone borrowing, which shall be a Business Day, (aB) the amount of such borrowing, which shall be, (x) with respect to Base Rate Loans (other than Swingline Loans) in an aggregate principal amount of $3,000,000 or a whole multiple of $1,000,000 in excess thereof, (y) with respect to LIBOR RateSOFR Loans in an aggregate principal amount of $5,000,000 or a whole multiple of $1,000,000 in excess thereof and (z) with respect to Swingline Loans in an aggregate principal amount of $500,000 or a whole multiple of $100,000 in excess thereof, (C) whether such Loan is to be a Revolving Credit Loan or Swingline Loan, (D) in the case of a Eurodollar Borrowing, not later than 11:00 a.m., New York City time, three Business Days before Revolving Credit Loan whether the date of the proposed Borrowing Loans are to be LIBOR RateSOFR Loans or Base Rate Loans and (b) in the case of an ABR Borrowing, not later than 11:00 a.m., New York City time, on the date of the proposed Borrowing. 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 information in compliance with Section 2.02:
(i) the aggregate amount of the Borrowing;
(ii) the date of the Borrowing;
(iii) whether the Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(ivE) in the case of a Eurodollar BorrowingLIBOR RateSOFR Loan, the initial duration of the 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 to which funds are to be disbursed, which shall comply with the requirements of Section 2.04. If no election as the Borrower fails to the Type specify a type of Borrowing is specified, then the Borrowing shall be Loan in a Eurodollar Borrowing. If no Interest Period is specified with respect to the Borrowing, if it is requested (or deemed requested) as a Eurodollar Notice of Borrowing, then the applicable Loans shall be made as Base Rate Loans. If the Borrower shall requests a Borrowingborrowing of LIBOR RateSOFR Loans in any such Notice of Borrowing, but fails to specify an Interest Period, it will be deemed to have selected specified an Interest Period of one month’s duration. Promptly following receipt A Notice of a Borrowing Request in accordance with this Sectionreceived after 11:00 a.m. shall be deemed received on the next Business Day or U.S. Government Securities Business Day, the as applicable. The Administrative Agent shall advise promptly notify the Revolving Credit Lenders of each Lender Notice of the details thereof and of the amount of such Lender’s Loan to be made as part of the Borrowing.. 43 142128979_6 170630523_7
Appears in 1 contract
Samples: Credit Agreement (Ubiquiti Inc.)
Requests for Borrowing. To (a) In order to request the Borrowinga Borrowing (other than a Swingline Loan or a deemed Borrowing pursuant to Section 2.02(e), as to which this Section 2.03 shall not apply), the Borrower shall notify the Administrative Agent of such request either in writing by delivery of a Borrowing Request (by hand or facsimile) signed by the Borrower or by telephone (ato be confirmed promptly by hand delivery or facsimile of written notice) in the case of a Eurodollar Borrowing, not later than (x) 11:00 a.m., New York City time, three Business Days before the date of the proposed Borrowing and (bA) in the case of an ABR a Eurocurrency Borrowing denominated in Dollars, three (3) Business Days before a proposed Borrowing (or such later time as shall be acceptable to the Agent), (B) in the case of a Term SOFR Borrowing, not three (3) U.S. Government Securities Business Days before a proposed Borrowing (or such later than time as shall be acceptable to the Agent) and (CB) in the case of a Eurocurrency Borrowing denominated in an Alternative Currency or a XXXXX Rate Loan, four Business Days before a proposed Borrowing (or such later time as shall be acceptable to the Agent) and (y) 11:00 a.m., New York City time, on the date of a proposed Borrowing (or such later time as shall be acceptable to the proposed Agent), in the case of an ABR Borrowing. Such Each such telephonic and written 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 information in compliance with Section 2.022.01:
(i) the aggregate amount of the requested Borrowing;
(ii) the date of the Borrowing, which shall be a Business Day;
(iii) whether the Borrowing then being requested is to be a Tranche I Term Borrowing, an Incremental Term Borrowing, a Dollar Revolving Borrowing, a Multicurrency Revolving Borrowing or an Incremental Revolving Credit Borrowing, and whether such Borrowing is to be an ABR Borrowing, a Eurocurrency Borrowing or a Eurodollar Term SOFR Borrowing, as applicable;
(iv) in the case of a Eurodollar Eurocurrency Borrowing or a Term SOFR Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
(v) in the case of a Multicurrency Revolving Borrowing, the currency in which such Borrowing is to be denominated; and
(vvi) the location and number of the Borrower’s account to which funds are to be disbursed; provided, which however, that notwithstanding any contrary specification in any Borrowing Request, each requested Borrowing shall comply with the requirements of set forth in Section 2.02 and Section 2.04. .
(b) If no election as to the Type of Borrowing is specified, then the requested Borrowing, if denominated in Dollars, shall be an ABR Borrowing and if denominated in any other currency, shall be a Eurodollar BorrowingEurocurrency Borrowing with an Interest Period of one month. If no Interest Period is specified with respect to the Borrowing, if it is requested (any Eurocurrency Borrowing or deemed requested) as a Eurodollar Term SOFR Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. If no currency is specified then the requested Borrowing shall be denominated in Dollars. Promptly following receipt of a 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 LenderXxxxxx’s Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Requests for Borrowing. To request the Borrowinga borrowing, the Borrower shall notify the Administrative Agent of such request by telephone (a) in the case of a Eurodollar Borrowingborrowing of LIBOR Rate Loans, not later than 11:00 a.m., New York City time, three (3) Business Days before the date of the proposed Borrowing and borrowing or (b) in the case of an ABR Borrowinga borrowing of Base Rate Loans, not later than 11:00 a.m., New York City time, on one (1) Business Day before the date of the proposed Borrowingborrowing. Such Each such telephonic Borrowing Request borrowing request shall be irrevocable and shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written Borrowing Request notice in the form attached hereto as Exhibit B (a form approved by the Administrative Agent “Notice of Borrowing”) and signed by the Borrower. Such Each such telephonic and written Notice of Borrowing Request shall specify the following information in compliance with Section 2.02information:
(i) i. the aggregate amount of the Borrowingrequested borrowing;
(ii) . the date of the Borrowingsuch borrowing, which shall be a Business Day;
(iii) . whether the Borrowing such borrowing is to be an ABR Borrowing comprised of Base Rate Loans or a Eurodollar BorrowingLIBOR Rate Loans;
(iv) . in the case of a Eurodollar BorrowingLIBOR Rate Loans, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”; and
(v) v. the location and number of the Borrower’s 's account to which funds are to be disbursed, which shall comply with the requirements of Section 2.042.07. If no election as to the Type type of Borrowing borrowing is specified, then the Borrowing requested borrowing shall be a Eurodollar Borrowingcomprised of Base Rate Loans. If no Interest Period is specified with respect to the Borrowing, if it is any requested (or deemed requested) as a Eurodollar Borrowingborrowing comprised of LIBOR Rate Loans, then the Borrower shall be deemed to have selected an Interest Period of one month’s 's duration. Promptly following receipt of a Notice of 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 's Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Requests for Borrowing. To request the a Borrowing, the Borrower shall notify the Administrative Agent of such request by telephone (a) in the case of a Eurodollar Borrowing, not later than 11:00 a.m., New York City time, three Business Days before the date of the proposed Borrowing and or (b) in the case of an ABR Borrowing, not later than 11:00 a.m., New York City time, on the date of the proposed Borrowing. Such Each 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 Each such Borrowing Request shall specify the following information in compliance with Section 2.02:
(i) the aggregate amount of the requested Borrowing;
(ii) the date of the such Borrowing, which shall be a Business Day;
(iii) whether the 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 to which funds are to be disbursed, which shall comply with the requirements of Section 2.042.07. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar an ABR Borrowing. If no Interest Period is specified with respect to the Borrowing, if it is any requested (or deemed requested) as a Eurodollar Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. Promptly following receipt of a 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
Requests for Borrowing. To (a) In order to request the Borrowinga Borrowing (other than a Swingline Loan or a deemed Borrowing pursuant to Section 2.02(e), as to which this Section 2.03 shall not apply), the Borrower shall notify the Administrative Agent of such request either in writing by delivery of a Borrowing Request (by hand or facsimile) signed by the Borrower or by telephone (ato be confirmed promptly by hand delivery or facsimile of written notice) in the case of a Eurodollar Borrowing, not later than (x) 11:00 a.m., New York City time, three Business Days before the date of the proposed Borrowing and (bA) in the case of an ABR a Term SOFR Borrowing, not three (3) U.S. Government Securities Business Days before a proposed Borrowing (or such later than time as shall be acceptable to the Agent) and (B) in the case of a Eurocurrency Borrowing denominated in an Alternative Currency or a XXXXX Rate Loan, four Business Days before a proposed Borrowing (or such later time as shall be acceptable to the Agent) and (y) 11:00 a.m., New York City time, on the date of a proposed Borrowing (or such later time as shall be acceptable to the proposed Agent), in the case of an ABR Borrowing. Such Each such telephonic and written 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 information in compliance with Section 2.022.01:
(i) the aggregate amount of the requested Borrowing;
(ii) the date of the Borrowing, which shall be a Business Day;
(iii) whether the Borrowing then being requested is to be a Tranche J Term Borrowing, an Incremental Term Borrowing, a Dollar Revolving Borrowing, a Multicurrency Revolving Borrowing or an Incremental Revolving Credit Borrowing, and whether such Borrowing is to be an ABR Borrowing, a Eurocurrency Borrowing or a Eurodollar Term SOFR Borrowing, as applicable;
(iv) in the case of a Eurodollar Eurocurrency Borrowing or a Term SOFR Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
(v) in the case of a Multicurrency Revolving Borrowing, the currency in which such Borrowing is to be denominated; and
(vvi) the location and number of the Borrower’s account to which funds are to be disbursed, which shall comply with the requirements of Section 2.04. ;
(b) If no election as to the Type of Borrowing is specified, then the requested Borrowing, if denominated in Dollars, shall be an ABR Borrowing and if denominated in any other currency, shall be a Eurodollar BorrowingEurocurrency Borrowing with an Interest Period of one month. If no Interest Period is specified with respect to the Borrowing, if it is requested (any Eurocurrency Borrowing or deemed requested) as a Eurodollar Term SOFR Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. If no currency is specified then the requested Borrowing shall be denominated in Dollars. Promptly following receipt of a 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 LenderXxxxxx’s Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Requests for Borrowing. To request the a Borrowing, the Borrower shall notify the Administrative Agent of such request by telephone (a) in the case of a Eurodollar Borrowing, not later than 11:00 a.m.3:00 p.m., New York City time, three Business Days before the date of the proposed Borrowing and or (b) in the case of an ABR Borrowing, not later than 11:00 10:30 a.m., New York City time, on the date day of the proposed Borrowing; provided that if at any time an LC Disbursement denominated in dollars shall be made in an amount at least equal to the applicable minimum borrowing amount, a notice of an ABR Borrowing to finance the reimbursement of such LC Disbursement shall be deemed to have been timely given as contemplated by Section 2.03(e) unless the Borrower shall have given notice to the contrary to the Administrative Agent not later than 10:00 a.m., New York City time, on the Business Day next following the date on which the Borrower shall have been notified of such LC Disbursement. Such Each 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 Each such telephonic and written Borrowing Request shall specify the following information in compliance with Section 2.022.01:
(i1) the aggregate amount of the requested Borrowing;
(ii2) the date of the such Borrowing, which shall be a Business Day;
(iii3) whether the such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(iv4) 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
(v5) the location and number of the Borrower’s 's account to which funds are to be disbursed, which shall comply with the requirements of Section 2.04. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar an ABR Borrowing. If no Interest Period is specified with respect to the Borrowing, if it is any requested (or deemed requested) as a Eurodollar Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s 's duration. Promptly following receipt of a 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 's Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Samples: First Lien Credit Agreement (Goodyear Tire & Rubber Co /Oh/)
Requests for Borrowing. To request the Borrowing, the The Borrower shall notify give the Administrative Agent irrevocable prior written notice substantially in the form of Exhibit B (a “Notice of Borrowing”) not later than 12:00 p.m.
(i) on the same Business Day as each Base Rate Loan and each Swingline Loan and (ii) at least three (3) Business Days before each LIBOR Rate Loan (or, in the case of any LIBOR Rate Loans to be borrowed on the Closing Date, such shorter period of time as may be agreed to by the Administrative Agent and the Revolving Credit Lenders), of its intention to borrow, specifying (A) the date of such request by telephone borrowing, which shall be a Business Day, (aB) the amount of such borrowing, which shall be, (x) with respect to Base Rate Loans (other than Swingline Loans) in an aggregate principal amount of $3,000,000 or a whole multiple of $1,000,000 in excess thereof, (y) with respect to LIBOR Rate Loans in an aggregate principal amount of $5,000,000 or a whole multiple of $1,000,000 in excess thereof and (z) with respect to Swingline Loans in an aggregate principal amount of $500,000 or a whole multiple of $100,000 in excess thereof, (C) whether such Loan is to be a Revolving Credit Loan or Swingline Loan, (D) in the case of a Eurodollar BorrowingRevolving Credit Loan whether the Loans are to be LIBOR Rate Loans or Base Rate Loans, not later than 11:00 a.m., New York City time, three Business Days before the date of the proposed Borrowing and (b) in the case of an ABR Borrowing, not later than 11:00 a.m., New York City time, on the date of the proposed Borrowing. 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 information in compliance with Section 2.02:
(i) the aggregate amount of the Borrowing;
(ii) the date of the Borrowing;
(iii) whether the Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(ivE) in the case of a Eurodollar BorrowingLIBOR Rate Loan, the initial duration of the 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 to which funds are to be disbursed, which shall comply with the requirements of Section 2.04. If no election as the Borrower fails to the Type specify a type of Borrowing is specified, then the Borrowing shall be Loan in a Eurodollar Borrowing. If no Interest Period is specified with respect to the Borrowing, if it is requested (or deemed requested) as a Eurodollar Notice of Borrowing, then the applicable Loans shall be made as Base Rate Loans. If the Borrower shall requests a borrowing of LIBOR Rate Loans in any such Notice of Borrowing, but fails to specify an Interest Period, it will be deemed to have selected specified an Interest Period of one month’s duration. Promptly following receipt A Notice of a Borrowing Request in accordance with this Section, received after 12:00 p.m. shall be deemed received on the next Business Day. The Administrative Agent shall advise promptly notify the Revolving Credit Lenders of each Lender Notice of the details thereof and of the amount of such Lender’s Loan to be made as part of the Borrowing.
Appears in 1 contract
Samples: Credit Agreement (RealPage, Inc.)
Requests for Borrowing. To request the a Borrowing, the Borrower shall notify the Administrative Agent of such request by telephone (a) in the case of a Eurodollar Eurocurrency Borrowing, not later than 11:00 a.m.12:00 p.m., New York City timeLocal Time, three Business Days before the date of the proposed Borrowing and or (b) in the case of an ABR Borrowing, not later than 11:00 a.m.12:00 noon, New York City timeLocal Time, on one Business Day before the date of the proposed Borrowing. 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 information in compliance with Section 2.02:
(i) the aggregate amount of the requested Borrowing;
(ii) the date of the such Borrowing, which shall be a Business Day;
(iii) whether the such Borrowing is to be an ABR Borrowing or a Eurodollar Eurocurrency Borrowing;
(iv) in the case of a Eurodollar Eurocurrency 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 to which funds are to be disbursed, which shall comply with the requirements of Section 2.04. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar an ABR Borrowing. If no Interest Period is specified with respect to the Borrowing, if it is a requested (or deemed requested) as a Eurodollar Eurocurrency Borrowing, then the applicable Borrower shall be deemed to have selected an Interest Period of one month’s duration. Promptly following receipt of a 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: Second Lien Credit Agreement (Covalence Specialty Adhesives LLC)
Requests for Borrowing. To request the Borrowing, the The Borrower shall notify give the Administrative Agent irrevocable prior written notice substantially in the form of Exhibit B (a “Notice of Borrowing”) not later than 12:00 p.m.
(i) on the same Business Day as each Base Rate Loan and each Swingline Loan and (ii) at least three (3) Business Days before each LIBOR Rate Loan, of its intention to borrow, specifying (A) the date of such request by telephone borrowing, which shall be a Business Day, (aB) the amount of such borrowing, which shall be, (x) with respect to Loans (other than Swingline Loans) in an aggregate principal amount of $1,000,000 or a whole multiple of $500,000 in excess thereof and (y) with respect to Swingline Loans in an aggregate principal amount of $100,000 or a whole multiple of $100,000 in excess thereof (or, in each case, the remaining amount of the Commitment or the Swingline Commitment, as applicable), (C) whether such Loan is to be a Revolving Credit Loan or Swingline Loan, (D) in the case of a Eurodollar Borrowing, not later than 11:00 a.m., New York City time, three Business Days before the date of the proposed Borrowing and (b) in the case of an ABR Borrowing, not later than 11:00 a.m., New York City time, on the date of the proposed Borrowing. 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 information in compliance with Section 2.02:
(i) the aggregate amount of the Borrowing;
(ii) the date of the Borrowing;
(iii) Revolving Credit Loan whether the Borrowing such Revolving Credit Loan is to be an ABR Borrowing a LIBOR Rate Loan or a Eurodollar Borrowing;
Base Rate Loan, and (ivE) in the case of a Eurodollar BorrowingLIBOR Rate Loan, the initial duration of the Interest Period to be applicable thereto; provided that if the Borrower wishes to request LIBOR Rate Loans having an Interest Period of twelve months in duration, which shall such notice must be a period contemplated received by the definition of the term “Interest Period”; and
Administrative Agent not later than 12:00 p.m. four (v4) the location and number of the Borrower’s account to which funds are to be disbursed, which shall comply with the requirements of Section 2.04. If no election as Business Days prior to the Type requested date of Borrowing is specifiedsuch borrowing, then whereupon the Borrowing Administrative Agent shall be a Eurodollar Borrowing. If no give prompt notice to the Lenders of such request and determine whether the requested Interest Period is specified with respect acceptable to all of them. If the Borrowing, if it is requested (or deemed requested) as Borrower fails to specify a Eurodollar type of Loan in a Notice of Borrowing, then the applicable Loans shall be made as Base Rate Loans. If the Borrower shall requests a borrowing of LIBOR Rate Loans in any such Notice of Borrowing, but fails to specify an Interest Period, it will be deemed to have selected specified an Interest Period of one month’s duration. Promptly following receipt A Notice of a Borrowing Request in accordance with this Section, received after 12:00 p.m. shall be deemed received on the next Business Day. The Administrative Agent shall advise promptly notify the Lenders of each Lender Notice of the details thereof and of the amount of such Lender’s Loan to be made as part of the Borrowing.
Appears in 1 contract
Requests for Borrowing. To request the a Borrowing, the Borrower shall notify the Administrative Agent of such request by telephone (a) in the case of a Eurodollar Borrowingany Borrowing (other than an ABR Borrowing on the Closing Date), not later than 11:00 a.m., New York City time, three Business Days before the date of the proposed Borrowing Borrowing, and (b) in the case of an ABR BorrowingBorrowing on the Closing Date, not later than 11:00 10:00 a.m., New York City time, on the date of the proposed Borrowingsuch date. Such Each 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 Each such telephonic and written Borrowing Request shall specify the following information in compliance with Section 2.02:
(i) the Class of each Borrowing requested and, for each such Class, the aggregate amount of the requested Borrowing;
(ii) the date of the such Borrowing, which shall be a Business Day;
(iii) for each Class, whether the such Borrowing is to be an ABR Borrowing or a Eurodollar LIBOR Borrowing;
(iv) in the case of a Eurodollar LIBOR Borrowing, the initial Interest Period to be applicable theretotherefor, which shall be a period contemplated by the definition of the term “Interest Period”” and permitted under Section 2.02(c); and
(v) the location and number of the Borrower’s account to which funds are to be disbursed, which shall comply with the requirements of Section 2.042.05. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar an ABR Borrowing. If no Interest Period is specified with respect to the any requested LIBOR Borrowing, if it is requested (or deemed requested) as a Eurodollar Borrowing, then the Borrower shall will be deemed to have selected an Interest Period of one month’s duration. Promptly following receipt of a 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
Requests for Borrowing. To request the a Borrowing other than a Restatement Date Borrowing, the Borrower shall notify the Administrative Agent of such request by telephone or email of scanned electronic format of a Borrowing Request (promptly followed by telephonic confirmation of such request) (a) in the case of a Eurodollar Borrowing, not later than 11:00 a.m.3:00 p.m., New York City time, three Business Days before the date of the proposed Borrowing and or (b) in the case of an ABR Borrowing, not later than 11:00 10:30 a.m., New York City time, on the date day of the proposed Borrowing; provided that if at any time an LC Disbursement denominated in dollars shall be made in an amount at least equal to the applicable minimum borrowing amount, a notice of an ABR Borrowing to finance the reimbursement of such LC Disbursement shall be deemed to have been timely given as contemplated by Section 2.03(e) unless the Borrower shall have given notice to the contrary to the Administrative Agent not later than 10:00 a.m., New York City time, on the Business Day next following the date on which the Borrower shall have been notified of such LC Disbursement. Such Each such telephonic Borrowing Request shall be irrevocable and shall be confirmed promptly by hand delivery delivery, telecopy or telecopy email of scanned electronic format 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 Each Borrowing Request shall specify the following information in compliance with Section 2.022.01:
(i1) the aggregate amount of the requested Borrowing;
(ii2) the date of the such Borrowing, which shall be a Business Day;
(iii3) whether the such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(iv4) 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
(v5) the location and number of the Borrower’s account to which funds are to be disbursed, which shall comply with the requirements of Section 2.04. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar an ABR Borrowing. If no Interest Period is specified with respect to the Borrowing, if it is any requested (or deemed requested) as a Eurodollar Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. Promptly following receipt of a 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: First Lien Credit Agreement (Goodyear Tire & Rubber Co /Oh/)
Requests for Borrowing. To (a) In order to request the Borrowinga Borrowing (other than a Swingline Loan or a deemed Borrowing pursuant to Section 2.02(e), as to which this Section 2.03 shall not apply), the Borrower shall notify the Administrative Agent of such request either in writing by delivery of a Borrowing Request (by hand or facsimile) signed by the Borrower or by telephone (ato be confirmed promptly by hand delivery or facsimile of written notice) in the case of a Eurodollar Borrowing, not later than (x) 11:00 a.m., New York City time, three Business Days before the date of the proposed Borrowing and (bA) in the case of an ABR a Eurocurrency Borrowing denominated in Dollars, three (3) Business Days before a proposed Borrowing (or such later time as shall be acceptable to the Agent), (B) in the case of a Term SOFR Borrowing, not three (3) U.S. Government Securities Business Days before a proposed Borrowing (or such later than time as shall be acceptable to the Agent) and (C) in the case of a Eurocurrency Borrowing denominated in an Alternative Currency or a XXXXX Rate Loan, four Business Days before a proposed Borrowing (or such later time as shall be acceptable to the Agent) and (y) 11:00 a.m., New York City time, on the date of a proposed Borrowing (or such later time as shall be acceptable to the proposed Agent), in the case of an ABR Borrowing. Such Each such telephonic and written 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 information in compliance with Section 2.022.01:
(i) the aggregate amount of the requested Borrowing;
(ii) the date of the Borrowing, which shall be a Business Day;
(iii) whether the Borrowing then being requested is to be a Tranche HI Term Borrowing, an Incremental Term Borrowing, a Dollar Revolving Borrowing, a Multicurrency Revolving Borrowing or an Incremental Revolving Credit Borrowing, and whether such Borrowing is to be an ABR Borrowing, a Eurocurrency Borrowing or a Eurodollar Term SOFR Borrowing, as applicable;
(iv) in the case of a Eurodollar Eurocurrency Borrowing or a Term SOFR Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
(v) in the case of a Multicurrency Revolving Borrowing, the currency in which such Borrowing is to be denominated; and
(vvi) the location and number of the Borrower’s account to which funds are to be disbursed; provided, which however, that notwithstanding any contrary specification in any Borrowing Request, each requested Borrowing shall comply with the requirements of set forth in Section 2.02 and Section 2.04. .
(b) If no election as to the Type of Borrowing is specified, then the requested Borrowing, if denominated in Dollars, shall be an ABR Borrowing and if denominated in any other currency, shall be a Eurodollar BorrowingEurocurrency Borrowing with an Interest Period of one month. If no Interest Period is specified with respect to the Borrowing, if it is requested (any Eurocurrency Borrowing or deemed requested) as a Eurodollar Term SOFR Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. If no currency is specified then the requested Borrowing shall be denominated in Dollars. Promptly following receipt of a 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 LenderXxxxxx’s Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Requests for Borrowing. To (a) In order to request the a Borrowing, the Borrower shall notify the Administrative Agent of such request either in writing by delivery of a Borrowing Request (by hand or facsimile) signed by the Borrower or by telephone (ato be confirmed promptly by hand delivery or facsimile of written notice) in the case of a Eurodollar Borrowing, not later than 11:00 a.m., New York City time, (A) in the case of a LIBO Rate Borrowing, three (3) Business Days before the date of the a proposed Borrowing (or such later time as shall be acceptable to the Agent) and (bB) in the case of an ABR Borrowing, not one (1) Business Day before a proposed Borrowing (or such later than 11:00 a.m., New York City time, on time as shall be acceptable to the date of the proposed BorrowingAgent). Such Each such telephonic and written 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 information in compliance with Section 2.022.01:
(i) the aggregate amount of the requested Borrowing;
(ii) the date of the Borrowing, which shall be a Business Day;
(iii) whether the Borrowing then being requested is to be a Term Borrowing or an Incremental Term Borrowing, and whether such Borrowing is to be an ABR Borrowing or a Eurodollar LIBO Rate Borrowing;
(iv) in the case of a Eurodollar LIBO Rate 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 to which funds are to be disbursed; provided, which however, that notwithstanding any contrary specification in any Borrowing Request, each requested Borrowing shall comply with the requirements of set forth in Section 2.02 and Section 2.04. .
(b) If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar an ABR Borrowing. If no Interest Period is specified with respect to the Borrowing, if it is requested (or deemed requested) as a Eurodollar any LIBO Rate Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. Promptly following receipt of a 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
Requests for Borrowing. To request the a Borrowing, the Borrower shall notify the Administrative Agent of such request by telephone (a) in the case of a Eurodollar Borrowing, not later than 11:00 a.m.3:00 p.m., New York City time, three Business Days before the date of the proposed Borrowing and or (b) in the case of an ABR Borrowing, not later than 11:00 10:30 a.m., New York City time, on the date day of the proposed Borrowing; provided that if at any time an LC Disbursement denominated in dollars shall be made in an amount at least equal to the applicable minimum borrowing amount, a notice of an ABR Borrowing to finance the reimbursement of such LC Disbursement shall be deemed to have been timely given as contemplated by Section 2.03(e) unless the Borrower shall have given notice to the contrary to the Administrative Agent not later than 10:00 a.m., New York City time, on the Business Day next following the date on which the Borrower shall have been notified of such LC Disbursement. Such Each 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 Each such telephonic and written Borrowing Request shall specify the following information in compliance with Section 2.022.01:
(i1) the aggregate amount of the requested Borrowing;
(ii2) the date of the such Borrowing, which shall be a Business Day;
(iii3) whether the such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(iv4) 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
(v5) the location and number of the Borrower’s account to which funds are to be disbursed, which shall comply with the requirements of Section 2.04. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar an ABR Borrowing. If no Interest Period is specified with respect to the Borrowing, if it is any requested (or deemed requested) as a Eurodollar Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. Promptly following receipt of a 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: First Lien Credit Agreement (Goodyear Tire & Rubber Co /Oh/)
Requests for Borrowing. To request the Borrowing, the The Borrower shall notify give (i) the Administrative Agent irrevocable prior written notice substantially in the form of Exhibit B or such other form as may be reasonably approved by the Administrative Agent or the Swingline Lender, as applicable (including any form on an electronic platform or electronic transmission system as shall be approved by the Administrative Agent or the Swingline Lender, as applicable), appropriately completed and signed by a Responsible Officer of the Borrower (a “Notice of Borrowing”), not later than 12:00 noon (A) one Business Day before each Base Rate Loan and (B) at least three (3) Business Days before each BSBY Loan, and (ii) the Swingline Lender (with a copy to the Administrative Agent) a Notice of Borrowing (which shall be irrevocable), not later than 12:00 noon on the same Business Day as each Swingline Loan, of its intention to borrow, specifying (A) the date of such request by telephone borrowing, which shall be a Business Day, (aB) the amount of such borrowing, which shall be, (x) with respect to Base Rate Loans (other than Swingline Loans) in an aggregate principal amount of $2,000,000 or a whole multiple of $1,000,000 in excess thereof, (y) with respect to BSBY Loans in an aggregate principal amount of $3,000,000 or a whole multiple of $1,000,000 in excess thereof and (z) with respect to Swingline Loans in whole multiples of $100,000, (C) whether such Loans are to be Revolving Credit Loans or Swingline Loans, (D) in the case of a Eurodollar BorrowingRevolving Credit Loans whether the Loans are to be BSBY Loans or Base Rate Loans, not later than 11:00 a.m., New York City time, three Business Days before the date of the proposed Borrowing and (bE) in the case of an ABR BorrowingBSBY Loans, not later than 11:00 a.m., New York City time, the duration of the Interest Period applicable thereto (provided that any Revolving Credit Loans made on the date Closing Date or any of the proposed Borrowing. Such telephonic Borrowing Request three (3) Business Days following the Closing Date shall be irrevocable and shall be confirmed promptly by hand delivery or telecopy made as Base Rate Loans unless the Borrower has delivered to the Administrative Agent of a written Borrowing Request funding indemnity letter in a form approved by and substance reasonably satisfactory to the Administrative Agent and signed by the Borrower. Such telephonic and written Borrowing Request shall specify the following information in compliance with Section 2.02:
not less than three (i3) the aggregate amount of the Borrowing;
(ii) Business Days prior to the date of such Revolving Credit Loans); provided that, notwithstanding the Borrowing;
(iii) whether foregoing, the Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(iv) in the case Borrower may provide such notice 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 to which funds are to be disbursed, which shall comply with the requirements of Section 2.04. If no election as Swingline Loan to the Type Swingline Lender by telephone; provided that any telephonic notice must be confirmed promptly thereafter by delivery to the Swingline Lender (with a copy to the Administrative Agent) of a Notice of Borrowing. A Notice of Borrowing is specified, then the Borrowing shall be a Eurodollar Borrowing. If no Interest Period is specified with respect to the Borrowing, if it is requested (or deemed requested) as a Eurodollar Borrowing, then the Borrower received after 12:00 noon shall be deemed to have selected an Interest Period of one month’s durationreceived on the next Business Day. Promptly following receipt of a Borrowing Request in accordance with this Section, the The Administrative Agent shall advise promptly notify the Revolving Credit Lenders of each Lender Notice of the details thereof and of the amount of such Lender’s Loan to be made as part of the Borrowing.
Appears in 1 contract
Samples: Credit Agreement (CoreCivic, Inc.)
Requests for Borrowing. To (a) In order to request the Borrowinga Borrowing (other than a Swingline Loan or a deemed Borrowing pursuant to Section 2.02(e), as to which this Section 2.03 shall not apply), the Borrower shall notify the Administrative Agent of such request either in writing by delivery of a Borrowing Request (by hand or facsimile) signed by the Borrower or by telephone (ato be confirmed promptly by hand delivery or facsimile of written notice) in the case of a Eurodollar Borrowing, not later than (x) 11:00 a.m., New York City time, three Business Days before the date of the proposed Borrowing and (bA) in the case of an ABR a Eurocurrency Borrowing denominated in Dollars, three (3) Business Days before a proposed Borrowing (or such later time as shall be acceptable to the Agent) and, (B) in the case of a Term SOFR Borrowing, not three (3) U.S. Government Securities Business Days before a proposed Borrowing (or such later than time as shall be acceptable to the Agent) and (C) in the case of a Eurocurrency Borrowing denominated in an Alternative Currency or a XXXXX Rate Loan, four Business Days before a proposed Borrowing (or such later time as shall be acceptable to the Agent) and (y) 11:00 a.m., New York City time, on the date of a proposed Borrowing (or such later time as shall be acceptable to the proposed Agent), in the case of an ABR Borrowing. Such Each such telephonic and written 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 information in compliance with Section 2.022.01:
(i) the aggregate amount of the requested Borrowing;
(ii) the date of the Borrowing, which shall be a Business Day;
(iii) whether the Borrowing then being requested is to be a Tranche C Term Borrowing, a Tranche D Term Borrowing, a Tranche E Term Borrowing, a Tranche F Term Borrowing, a Tranche GH Term Borrowing, an Incremental Term Borrowing, a Dollar Revolving Borrowing, a Multicurrency Revolving Borrowing or an Incremental Revolving Credit Borrowing, and whether such Borrowing is to be an ABR Borrowing or, a Eurocurrency Borrowing or a Eurodollar Term SOFR Borrowing, as applicable;
(iv) in the case of a Eurodollar Eurocurrency Borrowing or a Term SOFR Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
(v) in the case of a Multicurrency Revolving Borrowing, the currency in which such Borrowing is to be denominated; and
(vvi) the location and number of the Borrower’s account to which funds are to be disbursed; provided, which however, that notwithstanding any contrary specification in any Borrowing Request, each requested Borrowing shall comply with the requirements of set forth in Section 2.02 and Section 2.04. .
(b) If no election as to the Type of Borrowing is specified, then the requested Borrowing, if denominated in Dollars, shall be an ABR Borrowing and if denominated in any other currency, shall be a Eurodollar BorrowingEurocurrency Borrowing with an Interest Period of one month. If no Interest Period is specified with respect to the Borrowing, if it is requested (any Eurocurrency Borrowing or deemed requested) as a Eurodollar Term SOFR Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. If no currency is specified then the requested Borrowing shall be denominated in Dollars. Promptly following receipt of a 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 LenderXxxxxx’s Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Requests for Borrowing. To request the Borrowing, the The Borrower shall notify give the Administrative Agent irrevocable prior written notice (it being understood and agreed that such notice may state that the Borrowing is conditioned upon the effectiveness of other credit facilities, acquisitions, dispositions or other transactions, in which case, such notice may be revoked or modified by Borrower (by notice to Administrative Agent on or prior to the specified borrowing date) if such condition is not satisfied) substantially in the form of Exhibit B (a “Notice of Borrowing”) not later than 12:00 p.m.
(i) on the same Business Day as each Base Rate Loan and each Swingline Loan, and (ii) at least three RFR Business Days before each Term SOFR Loan, of its intention to borrow, specifying (A) the date of such request by telephone borrowing, which shall be a Business Day, (aB) the amount of such borrowing, which shall be, (x) with respect to Base Rate Loans (other than Swingline Loans) in an aggregate principal amount of $3,000,000 or a whole multiple of $1,000,000 in excess thereof, (y) with respect to Term SOFR Loans in an aggregate principal amount of $5,000,000 or a whole multiple of $1,000,000 in excess thereof and (z) with respect to Swingline Loans in an aggregate principal amount of $500,000 or a whole multiple of $100,000 in excess thereof, (C) whether such Loan is to be a Revolving Credit Loan or Swingline Loan, (D) in the case of a Eurodollar BorrowingRevolving Credit Loan whether the Loans are to be Term SOFR Loans or Base Rate Loans, not later than 11:00 a.m., New York City time, three Business Days before the date of the proposed Borrowing and (b) in the case of an ABR Borrowing, not later than 11:00 a.m., New York City time, on the date of the proposed Borrowing. 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 information in compliance with Section 2.02:
(i) the aggregate amount of the Borrowing;
(ii) the date of the Borrowing;
(iii) whether the Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
(ivE) in the case of a Eurodollar BorrowingTerm SOFR Loan, the initial duration of the 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 to which funds are to be disbursed, which shall comply with the requirements of Section 2.04. If no election as the Borrower fails to the Type specify a type of Borrowing is specified, then the Borrowing shall be Loan in a Eurodollar Borrowing. If no Interest Period is specified with respect to the Borrowing, if it is requested (or deemed requested) as a Eurodollar Notice of Borrowing, then the applicable Loans shall be made as Base Rate Loans. If the Borrower shall requests a Borrowing of Term SOFR Loans in any such Notice of Borrowing, but fails to specify an Interest Period, it will be deemed to have selected specified an Interest Period of one month’s duration. Promptly following receipt A Notice of a Borrowing Request in accordance with this Sectionreceived after 12:00 p.m. shall be deemed received on the next Business Day or RFR Business Day, the as applicable. The Administrative Agent shall advise promptly notify the Revolving Credit Lenders of each Lender Notice of the details thereof and of the amount of such Lender’s Loan to be made as part of the Borrowing.
Appears in 1 contract
Samples: Credit Agreement (SYNAPTICS Inc)
Requests for Borrowing. To (a) In order to request the Borrowinga Borrowing (other than a Swingline Loan or a deemed Borrowing pursuant to Section 2.02(e), as to which this Section 2.03 shall not apply), the Borrower shall notify the Administrative Agent of such request either in writing by delivery of a Borrowing Request (by hand or facsimile) signed by the Borrower or by telephone (ato be confirmed promptly by hand delivery or facsimile of written notice) not later than (x) 11:00 a.m., New York City time, (A) in the case of a Eurodollar BorrowingEurocurrency Borrowing denominated in Dollars, three (3) Business Days before a proposed Borrowing (or such later time as shall be acceptable to the Agent) and (B) in the case of a Eurocurrency Borrowing denominated in an Alternative Currency, not later than 11:00 a.m., New York City timetime or a XXXXX Rate Loan, three four Business Days before the date of the a proposed Borrowing (or such later time as shall be acceptable to the Agent) and (by) in the case of an ABR Borrowing, not later than 11:00 a.m., New York City time, on the date of a proposed Borrowing (or such later time as shall be acceptable to the proposed Agent), in the case of an ABR Borrowing. Such Each such telephonic and written 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 information in compliance with Section 2.022.01:
(i) the aggregate amount of the requested Borrowing;
(ii) the date of the Borrowing, which shall be a Business Day;
(iii) whether the Borrowing then being requested is to be a Tranche C Term Borrowing, a Tranche D Term Borrowing, a Tranche E Term Borrowing, a Tranche F Term Borrowing, a Tranche G Term Borrowing, an Incremental Term Borrowing, a Dollar Revolving Borrowing, a Multicurrency Revolving Borrowing or an Incremental Revolving Credit Borrowing, and whether such Borrowing is to be an ABR Borrowing or a Eurodollar Eurocurrency Borrowing;
(iv) in the case of a Eurodollar Eurocurrency Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
(v) in the case of a Multicurrency Revolving Borrowing, the currency in which such Borrowing is to be denominated; and
(vvi) the location and number of the Borrower’s account to which funds are to be disbursed; provided, which however, that notwithstanding any contrary specification in any Borrowing Request, each requested Borrowing shall comply with the requirements of set forth in Section 2.02 and Section 2.04. .
(b) If no election as to the Type of Borrowing is specified, then the requested Borrowing, if denominated in Dollars, shall be an ABR Borrowing and if denominated in any other currency, shall be a Eurodollar BorrowingEurocurrency Borrowing with an Interest Period of one month. If no Interest Period is specified with respect to the Borrowing, if it is requested (or deemed requested) as a Eurodollar any Eurocurrency Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. If no currency is specified then the requested Borrowing shall be denominated in Dollars. Promptly following receipt of a 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
Requests for Borrowing. To request the a Borrowing, the Borrower shall notify the Administrative Agent of such request by telephone (a) in the case of a Eurodollar Borrowing, not later than 11:00 a.m., New York City Chicago, Illinois time, three Business Days before the date of the proposed Borrowing and or (b) in the case of an ABR Borrowing, not later than 11:00 a.m., New York City Chicago, Illinois time, on the date of the proposed Borrowing. Such Each such telephonic Borrowing Request shall be irrevocable and shall be confirmed promptly by hand delivery delivery, electronic communication in accordance with the terms of Section 9.01(b) 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 Each such telephonic and written Borrowing Request shall specify the following information in compliance with Section 2.02:
(i) the aggregate amount of the requested Borrowing;
(ii) the date of the such Borrowing, which shall be a Business Day;
(iii) whether the 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 's account to which funds are to be disbursed, which shall comply with the requirements of Section 2.042.07. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar an ABR Borrowing. If no Interest Period is specified with respect to the Borrowing, if it is any requested (or deemed requested) as a Eurodollar Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s 's duration. Promptly following receipt of a 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 's Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Samples: Loan Agreement (Efunds Corp)
Requests for Borrowing. To The Borrower may irrevocably request that the BorrowingLoan be made by delivering a Borrowing Request, in the Borrower shall notify form of Exhibit H attached hereto, to the Administrative Agent of such request by telephone Lender (a) in the case of a Eurodollar Eurocurrency Rate Borrowing, not later than 11:00 a.m., 12:00 p.m. (New York City time, ) three Business Days before prior to the date of the proposed such Borrowing and or (b) in the case of an ABR a Base Rate Borrowing, not later than 11:00 a.m., 12:00 p.m. (New York City time, on ) one Business Day prior to the date of the proposed such Borrowing. Such telephonic The 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 information in compliance with Section 2.022.2:
(i) the aggregate amount of the requested Borrowing;
(ii) the date of the Borrowing, which shall be a Business Day;
(iii) whether the Borrowing is to be an ABR a Base Rate Borrowing or a Eurodollar Eurocurrency Rate Borrowing;
(iv) in the case of a Eurodollar Eurocurrency Rate 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 account(s) to which funds are to be disbursed, which shall comply with the requirements of Section 2.042.4. If no election as to the Type of the Borrowing is specified, then the requested Borrowing shall be a Eurodollar Base Rate Borrowing. If no Interest Period is specified with respect to the Borrowing, if it is any requested (or deemed requested) as a Eurodollar Eurocurrency Rate Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. Promptly following receipt of a 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 Borrowing.
Appears in 1 contract
Requests for Borrowing. To request the Borrowing, the The Borrower shall notify give the Administrative Agent a Notice of Borrowing for the Initial Term Loans or any Series of Incremental Term Loans not later than 1:00 p.m. (New York time) (i) on the same Business Day as each Base Rate Loan and (ii) at least three Business Days before each LIBOR Rate Loan, of its intention to borrow, specifying (A) the date of such request by telephone borrowing, which shall be a Business Day (aand, in the case of the Initial Term Loans, the Closing Date), (B) the amount of such borrowing, which shall be, (x) with respect to Base Rate Loans in an aggregate minimum principal amount of One Million Dollars ($1,000,000) and (y) with respect to LIBOR Rate Loans in an aggregate minimum principal amount of Two Million Five Hundred Thousand Dollars ($2,500,000) (C) whether the Loans are to be LIBOR Rate Loans or Base Rate Loans, (D) in the case of a Eurodollar BorrowingLIBOR Rate Loan, not later than 11:00 a.m., New York City time, three Business Days before the date duration of the proposed Borrowing Interest Period applicable thereto, and (bE) in the case of an ABR Borrowingthe Initial Term Loans, not later than 11:00 a.m., whether it has elected to borrow such Term Loans prior to the Acquisition Date (a “Pre-Acquisition Funding Election”). A Notice of Borrowing received after 1:00 p.m. (New York City time, ) shall be deemed received on the date next Business Day. The Administrative Agent shall promptly notify the Lenders of the proposed each Notice of Borrowing. Such telephonic Borrowing Request shall be irrevocable and shall be confirmed promptly by hand delivery or telecopy Notwithstanding anything to the Administrative Agent of contrary, however, if the Borrower fails to deliver 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 information in compliance with Section 2.02:
(i) the aggregate amount of the Borrowing;
(ii) the date of the Borrowing;
(iii) whether the 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 to which funds are to be disbursed, which shall comply with the requirements of Section 2.04. If no election as to the Type Notice of Borrowing is specifiedfor the Initial Term Loans on the day required pursuant to this Section 4.2(a), then the Borrowing shall be a Eurodollar Borrowing. If no Interest Period is specified with respect to the Borrowing, if it is requested (or deemed requested) as a Eurodollar Borrowing, then the Borrower shall be deemed to have selected have: (1) requested Initial Term Loans in an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Sectionaggregate principal amount equal to the aggregate Initial Term Loan Commitment, (2) elected that the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan Initial Term Loans are to be Base Rate Loans and (3) made as part of the BorrowingPre-Acquisition Funding Election.
Appears in 1 contract
Samples: Credit Agreement (Geo Group Inc)
Requests for Borrowing. To (a) In order to request the a Revolving Credit Borrowing, the Borrower shall notify the Administrative Agent of such request either in writing by delivery of a Borrowing Request (by hand, electronic mail, or facsimile) signed by the Borrower or by telephone (ato be confirmed promptly by hand delivery, electronic mail, or facsimile of written notice) in the case of a Eurodollar Borrowing, not later than 11:00 a.m., New York City time, (A) in the case of a LIBO Rate Borrowing, three (3) Business Days before a proposed Revolving Credit Borrowing (or such later time on such Business Day as shall be acceptable to the date of the proposed Borrowing Agent) and (bB) in the case of an ABR Borrowing, not one (1) Business Day before a proposed Revolving Credit Borrowing (or such later than 11:00 a.m., New York City time, on time as shall be acceptable to the date of the proposed BorrowingAgent and each Lender). Such Each such telephonic and written 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 information in compliance with Section 2.022.01:
(i) the aggregate amount of the requested Revolving Credit Borrowing;
(ii) the date of the Revolving Credit Borrowing, which shall be a Business Day;
(iii) whether the Revolving Credit Borrowing then being requested is to be an Incremental Revolving Credit Borrowing, and whether such Revolving Credit Borrowing is to be an ABR Borrowing or a Eurodollar LIBO Rate Borrowing;
(iv) in the case of a Eurodollar LIBO Rate 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 's account to which funds are to be disbursed; provided, which however, that notwithstanding any contrary specification in any Borrowing Request, each requested Revolving Credit Borrowing shall comply with the requirements of set forth in Section 2.02 and Section 2.04. .
(b) If no election as to the Type of Revolving Credit Borrowing is specified, then the requested Revolving Credit Borrowing shall be a Eurodollar an ABR Borrowing. If no Interest Period is specified with respect to the Borrowing, if it is requested (or deemed requested) as a Eurodollar any LIBO Rate Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s 's duration. Promptly following receipt of a the Borrowing Request in accordance with this SectionSection 2.03 (but in any event on the same day such Borrowing Request is received by the Agent), the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s 's Revolving Loan to be made as part of the requested Revolving Credit Borrowing.
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Requests for Borrowing. To In order to request the a Borrowing, the Borrower shall notify the Administrative Agent of such request either in writing by delivery of a Borrowing Request (by hand, electronic mail, or facsimile) signed by the Borrower or by telephone (ato be confirmed promptly by hand delivery, electronic mail, or facsimile of written notice) in the case of a Eurodollar Borrowing, not later than 11:00 a.m., New York City time, (A) in the case of a LIBO Rate Borrowing, three (3) Business Days before the date of the a proposed Borrowing (or such later time on such Business Day as shall be acceptable to the Agent) and (bB) in the case of an ABR Borrowing, not one (1) Business Day before a proposed Borrowing (or such later than 11:00 a.m., New York City time, on time as shall be acceptable to the date of the proposed BorrowingAgent and each Lender). Such Each such telephonic and written 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 information in compliance with Section 2.022.01:
(i) the aggregate amount of the requested Borrowing;
(ii) the aggregate principal amount of all Borrowings scheduled to be outstanding as of the date of the requested Borrowing (including, for this purpose, the principal amount of such requested Borrowing);
(iii) the date of the Borrowing, which shall be a Business Day;
(iv) the Guaranteed Amount (and 95% of the Guaranteed Amount) as of the date of the Borrowing;
(iiiv) whether the Borrowing then being requested is to be an ABR Borrowing or a Eurodollar LIBO Rate Borrowing;
(ivvi) in the case of a Eurodollar LIBO Rate Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”; and
(vvii) the location and number of the Borrower’s account to which funds are to be disbursed; provided, which however, that notwithstanding any contrary specification in any Borrowing Request, each requested Borrowing shall comply with the requirements of set forth in Section 2.02 and Section 2.04. If no election as to the Type of Borrowing is specified, then the Borrowing shall be a Eurodollar Borrowing. If no Interest Period is specified with respect to the Borrowing, if it is requested (or deemed requested) as a Eurodollar Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. Promptly following receipt of a 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 Borrowing.
Appears in 1 contract
Requests for Borrowing. To request the a Borrowing, the Borrower shall notify the Administrative Agent of such request by telephone (a) in the case of a Eurodollar Borrowingany Borrowing (other than an ABR Borrowing on the Closing Date), not later than 11:00 a.m., New York City time, three Business Days before the date of the proposed Borrowing Borrowing, and (b) in the case of an ABR BorrowingBorrowing on the Closing Date, not later than 11:00 10:00 a.m., New York City time, on the date of the proposed Borrowingsuch date. Such Each 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 Each such telephonic and written Borrowing Request shall specify the following information in compliance with Section 2.02:
(i) the aggregate amount of the requested Borrowing;
(ii) the date of the such Borrowing, which shall be a Business Day;
(iii) whether the such Borrowing is to be an ABR Borrowing or a Eurodollar LIBOR Borrowing;
(iv) in the case of a Eurodollar LIBOR Borrowing, the initial Interest Period to be applicable theretotherefor, which shall be a period contemplated by the definition of the term “Interest Period”” and permitted under Section 2.02(c); and
(v) the location and number of the Borrower’s account to which funds are to be disbursed, which shall comply with the requirements of Section 2.042.05. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar an ABR Borrowing. If no Interest Period is specified with respect to the any requested LIBOR Borrowing, if it is requested (or deemed requested) as a Eurodollar Borrowing, then the Borrower shall will be deemed to have selected an Interest Period of one month’s duration. Promptly following receipt of a 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. Notwithstanding any other provision of this Agreement, the Borrower shall not be entitled to request any Loans other than (x) the initial Loans on the Closing Date and (y) the Additional Term Loans in accordance with Section 2.20. SECTION 2.04. [Intentionally Omitted].
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Requests for Borrowing. To (a) In order to request the Borrowinga Borrowing (other than a Swingline Loan or a deemed Borrowing pursuant to Section 2.02(e), as to which this Section 2.03 shall not apply), the Borrower shall notify the Administrative Agent of such request either in writing by delivery of a Borrowing Request (by hand or facsimile) signed by the Borrower or by telephone (ato be confirmed promptly by hand delivery or facsimile of written notice) in the case of a Eurodollar Borrowing, not later than 11:00 a.m., New York City time, (A) in the case of a LIBO Rate Borrowing, three (3) Business Days before the date of the a proposed Borrowing (or such later time as shall be acceptable to the Agent) and (bB) in the case of an ABR Borrowing, not one (1) Business Day before a proposed Borrowing (or such later than 11:00 a.m., New York City time, on time as shall be acceptable to the date of the proposed BorrowingAgent). Such Each such telephonic and written 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 information in compliance with Section 2.022.01:
(i) the aggregate amount of the requested Borrowing;
(ii) the date of the Borrowing, which shall be a Business Day;
(iii) whether the Borrowing then being requested is to be a Term Borrowing, an Incremental Term Borrowing, a Revolving Credit Borrowing or an Incremental Revolving Credit Borrowing, and whether such Borrowing is to be an ABR Borrowing or a Eurodollar LIBO Rate Borrowing;
(iv) in the case of a Eurodollar LIBO Rate 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 to which funds are to be disbursed; provided, which however, that notwithstanding any contrary specification in any Borrowing Request, each requested Borrowing shall comply with the requirements of set forth in Section 2.02 and Section 2.04. .
(b) If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar an ABR Borrowing. If no Interest Period is specified with respect to the Borrowing, if it is requested (or deemed requested) as a Eurodollar any LIBO Rate Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. Promptly following receipt of a 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.
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Requests for Borrowing. To request From time to time during the Borrowingperiod from the date hereof to and including the Facility Termination Date, the Borrower shall notify may present to the Administrative Agent Lender written information describing a particular Asset Pool (i) with respect to which the Borrower intends to submit an offer to purchase, (ii) requesting that the Lender make a Loan to the Borrower in a minimum principal amount of $250,000 (or such lesser amount as the Lender may approve) and a maximum principal amount of $4,000,000 (or such greater amount as the Lender may approve) to finance up to 100 percent (100%) of the Total Cost of such Asset Pool and (iii) specifying the portion (which shall not exceed 85% of the Total Cost of such Asset Pool) of the requested Loan which is to be the Senior Tranche and the portion which is to be the Junior Tranche. Each such request for a Loan hereunder shall be in substantially the form of Exhibit A hereto (each a "Borrowing Request"), and shall be accompanied by telephone the relevant bid package (aincluding the proposed Purchase Agreement to be entered into if the Borrower is the successful bidder for such Asset Pool), all relevant information known to the Borrower regarding the Accounts comprising such Asset Pool, projections of the Borrower's anticipated recoveries, cash flows and net returns to be obtained upon collection of such Accounts and such other information as the Lender may reasonably request. The Borrower shall make reasonable efforts to submit no more than one Borrowing Request in each calendar month. The Lender shall accept or reject a Borrowing Request within five (5) Business Days after receipt thereof from the Borrower. The Lender's failure to respond to a Borrowing Request within five (5) Business Days (or within such extended period as may be required in the case of event additional information or documentation is requested by the Lender) shall be deemed a Eurodollar Borrowing, not later than 11:00 a.m., New York City time, three Business Days before the date rejection of the proposed Borrowing and (b) Request by the Lender. Notwithstanding anything in the case of an ABR Borrowingforegoing to the contrary, not later than 11:00 a.m., New York City time, on the date of the proposed Borrowing. Such telephonic Lender's decision to accept or reject a Borrowing Request shall be irrevocable in the Lender's sole and shall be confirmed promptly by hand delivery or telecopy to absolute discretion and the Administrative Agent of a written Lender may decline any Borrowing Request in a form approved by for any reason (or no reason), without notification or explanation, and without regard to whether or not the Administrative Agent and signed by the Borrower. Such telephonic and written Borrowing Request shall specify the following information in compliance with Section 2.02:
(i) the aggregate amount Lender has given any prior indication of the Borrowing;
(ii) the date of the Borrowing;
(iii) whether the Borrowing is to be an ABR Borrowing interest 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 to which funds are to be disbursed, which shall comply with the requirements of Section 2.04. If no election as to the Type of Borrowing is specified, then the Borrowing shall be a Eurodollar Borrowing. If no Interest Period is specified oral approval with respect to the Borrowing, if it is requested (or deemed requested) as a Eurodollar Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. Promptly following receipt of a 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 Borrowingspecified Asset Pool.
Appears in 1 contract
Samples: Credit Agreement (Portfolio Recovery Associates Inc)
Requests for Borrowing. To request From time to time during the Borrowingperiod from the date hereof to and including the Funding Termination Date, the Borrower shall notify may present to the Administrative Agent Lender written information describing a particular Asset Pool (i) with respect to which the Borrower intends to submit an offer to purchase and (ii) requesting that the Lender make a Loan to the Borrower to finance up to seventy percent (70%) of the Total Cost of such Asset Pool; provided, however, that the Lender may, in its sole and absolute discretion, agree to increase such percentage on a transaction-by-transaction basis. Each such request for a Loan hereunder shall be in substantially the form of Exhibit A hereto (each a “Borrowing Request”), and shall be accompanied by telephone the relevant bid package (aincluding, if available, the proposed Purchase Agreement (or Forward Flow Purchase Agreement, if applicable and available) to be entered into if the Borrower is the successful bidder for such Asset Pool (or in the case of a Eurodollar BorrowingPurchase Agreement assigned by the Parent or a Purchase Affiliate, not later than 11:00 a.m.as applicable, New York City timein connection with Section 2.1(g), three the Purchase Agreement so assigned), all relevant information known to the Borrower regarding the Accounts comprising such Asset Pool, the proposed Servicing Fee for collection of such Accounts, projections of the Borrower’s anticipated recoveries, cash flows and net returns to be obtained upon collection of such Accounts, a projection of the combined interest and Contingent Payments to be paid to the Lender over the expected term of such Asset Pool as contemplated in Treasury Regulation § 1.1275-4(b), which projection shall constitute the accrual for federal income tax purposes, of the Borrower’s interest deductions and the Lender’s interest income with respect to such Asset Pool (the “Projected Accrual Schedule”) and such other information as the Lender may reasonably request. The Lender shall accept or reject a Borrowing Request within five (5) Business Days before (the date “Response Period”), after receipt thereof from the Borrower. The Lender’s failure to accept a Borrowing Request within the Response Period shall be deemed a rejection of the proposed Borrowing and (b) Request by the Lender. Notwithstanding anything in the case of an ABR Borrowingforegoing to the contrary, not later than 11:00 a.m., New York City time, on the date of the proposed Borrowing. Such telephonic Lender’s decision to accept or reject a Borrowing Request shall be irrevocable in the Lender’s sole and shall be confirmed promptly by hand delivery or telecopy to absolute discretion and the Administrative Agent of a written Lender may decline any Borrowing Request in a form approved by for any reason (or no reason), without notification, justification or explanation, and without regard to whether or not the Administrative Agent and signed by the Borrower. Such telephonic and written Borrowing Request shall specify the following information in compliance with Section 2.02:
(i) the aggregate amount Lender has given any prior indication of the Borrowing;
(ii) the date of the Borrowing;
(iii) whether the Borrowing is to be an ABR Borrowing interest 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 to which funds are to be disbursed, which shall comply with the requirements of Section 2.04. If no election as to the Type of Borrowing is specified, then the Borrowing shall be a Eurodollar Borrowing. If no Interest Period is specified oral approval with respect to the Borrowing, if it is requested (or deemed requested) as a Eurodollar Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. Promptly following receipt of a 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 Borrowingspecified Asset Pool.
Appears in 1 contract
Samples: Credit Agreement (NCO Group, Inc.)
Requests for Borrowing. To request the a Borrowing, the Borrower shall notify the Administrative Agent of such request by telephone (a) in the case of a Eurodollar Borrowing, not later than 11:00 a.m.12:00 p.m. (Noon), New York City time, three Business Days before the date of the proposed Borrowing and or (b) in the case of an ABR Borrowing, not later than 11:00 a.m.12:00 p.m. (Noon), New York City time, on the date of the proposed Borrowing. Such Each 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 Each such Borrowing Request shall specify the following information in compliance with Section 2.02:
(i) the aggregate principal amount of the requested Borrowing;
(ii) the date of the such Borrowing, which shall be a Business Day;
(iii) the Class of such Borrowing and whether the 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 to which funds are to be disbursed, which shall comply with the requirements of Section 2.04. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar an ABR Borrowing. If no Interest Period is specified with respect to the Borrowing, if it is any requested (or deemed requested) as a Eurodollar Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. Promptly following receipt of a 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: Credit Agreement
Requests for Borrowing. To request the a Borrowing, the Borrower shall notify the Administrative Agent of such request by telephone (a) in the case of a Eurodollar Borrowing, not later than 11:00 a.m., New York City time, three Business Days before the date of the proposed Borrowing and or (b) in the case of an ABR Borrowing, not later than 11:00 a.m., New York City time, on the date of the proposed Borrowing. Such Each 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 Each such Borrowing Request shall specify the following information in compliance with Section 2.02:
(i) the aggregate amount of the requested Borrowing;
(ii) the date of the such Borrowing, which shall be a Business Day;
(iii) the Class of such Borrowing and whether the 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 to which funds are to be disbursed, which shall comply with the requirements of Section 2.042.07. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar an ABR Borrowing. If no Interest Period is specified with respect to the Borrowing, if it is any requested (or deemed requested) as a Eurodollar Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. Promptly following receipt of a 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
Requests for Borrowing. To (a) In order to request the Borrowinga Borrowing (other than a Swingline Loan or a deemed Borrowing pursuant to Section 2.02(e), as to which this Section 2.03 shall not apply), the Borrower shall notify the Administrative Agent of such request either in writing by delivery of a Borrowing Request (by hand or facsimile) signed by the Borrower or by telephone (ato be confirmed promptly by hand delivery or facsimile of written notice) in the case of a Eurodollar Borrowing, not later than 11:00 a.m., New York City time, (A) in the case of a LIBOR Rate Borrowing, three (3) Business Days before the date of the a proposed Borrowing (or such later time as shall be acceptable to the Agent) and (bB) in the case of an ABR Borrowing, not one (1) Business Day before a proposed Borrowing (or such later than 11:00 a.m., New York City time, on time as shall be acceptable to the date of the proposed BorrowingAgent). Such Each such telephonic and written 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 information in compliance with Section 2.022.01:
(i) the aggregate amount of the requested Borrowing;
(ii) the date of the Borrowing, which shall be a Business Day;
(iii) whether the Borrowing then being requested is to be a Term Borrowing, an Incremental Term Borrowing, a Revolving Credit Borrowing or an Incremental Revolving Credit Borrowing, and whether such Borrowing is to be an ABR Borrowing or a Eurodollar LIBOR Rate Borrowing;
(iv) in the case of a Eurodollar LIBOR Rate 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 to which funds are to be disbursed. provided, which however, that notwithstanding any contrary specification in any Borrowing Request, each requested Borrowing shall comply with the requirements of set forth in Section 2.02 and Section 2.04.
(b) If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar an ABR Borrowing. If no Interest Period is specified with respect to the Borrowing, if it is requested (or deemed requested) as a Eurodollar any LIBOR Rate Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. Promptly following receipt of a 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: Credit Agreement (Transdigm Inc)
Requests for Borrowing. To request the a Borrowing, the Borrower shall notify the Administrative Agent of such request by telephone (a) in the case of a Eurodollar Borrowing, not later than 11:00 a.m., New York City time, three Business Days before the date of the proposed Borrowing and or (b) in the case of an ABR Borrowing, not later than 11:00 a.m., New York City time, on the date of the proposed Borrowing. Such Each 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 Each such Borrowing Request shall specify the following information in compliance with Section 2.02:
(i) the aggregate amount of the requested Borrowing;
(ii) the date of the such Borrowing, which shall be a Business Day;
(iii) the Class of such Borrowing and whether the 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 to which funds are to be disbursed, which shall comply with the requirements of Section 2.042.07. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar an ABR Borrowing. If no Interest Period is specified with respect to the Borrowing, if it is any requested (or deemed requested) as a Eurodollar Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. Promptly following receipt of a 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
Requests for Borrowing. To request the Borrowing, the The Borrower shall notify give the Administrative Agent of such request irrevocable prior written notice (or telephonic notice confirmed by telephone written notice) in the form attached hereto as EXHIBIT B (aa "NOTICE OF BORROWING") not later than 11:00 a.m. (New York time) at least three Business Days before each New Facility Loan (except in the case of a Eurodollar Borrowingthe New Facility Loans, not later than 11:00 a.m.if any, to be made by the Tranche A New York City timeFacility Lender pursuant to Section 3.2(c) below), three Business Days before the date of the proposed Borrowing and (b) in the case of an ABR Borrowing, not later than 11:00 a.m., New York City time, on the date of the proposed Borrowing. 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 information in compliance with Section 2.02:
proposed borrowing specifying (i) the aggregate amount of the Borrowing;
(iiA) the date of the Borrowing;
(iii) whether the 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 theretosuch borrowing, which shall be a period contemplated by the definition of the term “Interest Period”; and
Business Day, (vB) the location and number of the Borrower’s account to which funds are to be disbursed, which shall comply with the requirements of Section 2.04. If no election as to the Type of Borrowing is specified, then the Borrowing shall be a Eurodollar Borrowing. If no Interest Period is specified with respect to the Borrowing, if it is requested (or deemed requested) as a Eurodollar Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. Promptly following receipt of a 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 borrowing which shall be in an aggregate principal amount of $1,000,000 or a whole multiple of $250,000 in excess thereof, and (C) the duration of the Interest Period applicable thereto. Each Notice of Borrowing delivered by the Borrower under this Section 3.2(a) in respect of New Facility Loans under the Tranche B New Facility Commitment shall be accompanied by a signed counterpart of a joint letter of instruction to the Depositary to request the Depositary to transfer proceeds from the Escrow Account in an amount equal to (x) the amount of New Facility Loans requested in by Notice of Borrowing to be made as part under the Tranche B New Facility Commitment multiplied by (y) the ratio of the Tranche A New Facility Commitment divided by the Tranche B New Facility Commitments. Notices received after 11:00 a.m. (New York time) shall be deemed received on the next Business Day. The Agent shall promptly notify the New Facility Lenders of each Notice of Borrowing.
Appears in 1 contract
Requests for Borrowing. To request the a Borrowing, the Borrower shall notify the Administrative Agent of such request by telephone (a) in the case of a Eurodollar Borrowing, not later than 11:00 a.m., New York City time, three Business Days before the date of the proposed Borrowing and or (b) in the case of an ABR Borrowing, not later than 11:00 a.m., New York City time, on the date of the proposed Borrowing; provided that the Borrower may request only one Borrowing pursuant to this Section 2.03. Such Each 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 Each such telephonic and written Borrowing Request shall specify the following information in compliance with Section 2.02:
(i) the aggregate amount of the requested Borrowing;
(ii) the date of the such Borrowing, which shall be a Business Day;
(iii) whether the 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 's account to which funds are to be disbursed, which shall comply with the requirements of Section 2.042.05. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar an ABR Borrowing. If no Interest Period is specified with respect to the Borrowing, if it is any requested (or deemed requested) as a Eurodollar Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s 's duration. Promptly following receipt of a 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 's Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Requests for Borrowing. To (a) In order to request the Borrowinga Borrowing (other than a Swingline Loan or a deemed Borrowing pursuant to Section 2.02(e), as to which this Section 2.03 shall not apply), the Borrower shall notify the Administrative Agent of such request either in writing by delivery of a Borrowing Request (by hand or facsimile) signed by the Borrower or by telephone (ato be confirmed promptly by hand delivery or facsimile of written notice) not later than (x) 11:00 a.m., New York City time, (A) in the case of a Eurodollar BorrowingEurocurrency Borrowing denominated in Dollars, three (3) Business Days before a proposed Borrowing (or such later time as shall be acceptable to the Agent) and (B) in the case of a Eurocurrency Borrowing denominated in an Alternative Currency, not later than 11:00 a.m., New York City time, three four Business Days before the date of the a proposed Borrowing (or such later time as shall be acceptable to the Agent) and (by) in the case of an ABR Borrowing, not later than 11:00 a.m., New York City time, on the date of a proposed Borrowing (or such later time as shall be acceptable to the proposed Agent), in the case of an ABR Borrowing. Such Each such telephonic and written 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 information in compliance with Section 2.022.01:
(i) the aggregate amount of the requested Borrowing;
(ii) the date of the Borrowing, which shall be a Business Day;
(iii) whether the Borrowing then being requested is to be a Tranche C Term Borrowing, a Tranche D Term Borrowing, a Tranche E Term Borrowing, a Tranche F Term Borrowing, a Tranche G Term Borrowing, an Incremental Term Borrowing, a Dollar Revolving Borrowing, a Multicurrency Revolving Borrowing or an Incremental Revolving Credit Borrowing, and whether such Borrowing is to be an ABR Borrowing or a Eurodollar Eurocurrency Borrowing;
(iv) in the case of a Eurodollar Eurocurrency Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
(v) in the case of a Multicurrency Revolving Borrowing, the currency in which such Borrowing is to be denominated; and
(vvi) the location and number of the Borrower’s account to which funds are to be disbursed; provided, which however, that notwithstanding any contrary specification in any Borrowing Request, each requested Borrowing shall comply with the requirements of set forth in Section 2.02 and Section 2.04. .
(b) If no election as to the Type of Borrowing is specified, then the requested Borrowing, if denominated in Dollars, shall be an ABR Borrowing and if denominated in any other currency, shall be a Eurodollar BorrowingEurocurrency Borrowing with an Interest Period of one month. If no Interest Period is specified with respect to the Borrowing, if it is requested (or deemed requested) as a Eurodollar any Eurocurrency Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. If no currency is specified then the requested Borrowing shall be denominated in Dollars. Promptly following receipt of a 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: Refinancing Facility Agreement (TransDigm Group INC)
Requests for Borrowing. To (a) In order to request the Borrowinga Borrowing (other than a Swingline Loan or a deemed Borrowing pursuant to Section 2.02(e), as to which this Section 2.03 shall not apply), the Borrower shall notify the Administrative Agent of such request either in writing by delivery of a Borrowing Request (by hand or facsimile) signed by the Borrower or by telephone (ato be confirmed promptly by hand delivery or facsimile of written notice) in the case of a Eurodollar Borrowing, not later than (x) 11:00 a.m., New York City time, three Business Days before the date of the proposed Borrowing and (bA) in the case of an ABR a Term SOFR Borrowing, not three (3) U.S. Government Securities Business Days before a proposed Borrowing (or such later than time as shall be acceptable to the Agent) and (B) in the case of a Eurocurrency Borrowing denominated in an Alternative Currency or a XXXXX Rate Loan, four Business Days before a proposed Borrowing (or such later time as shall be acceptable to the Agent) and (y) 11:00 a.m., New York City time, on the date of a proposed Borrowing (or such later time as shall be acceptable to the proposed Agent), in the case of an ABR Borrowing. Such Each such telephonic and written 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 information in compliance with Section 2.022.01:
(i) the aggregate amount of the requested Borrowing;
(ii) the date of the Borrowing, which shall be a Business Day;
(iii) whether the Borrowing then being requested is to be a Tranche IJ Term Borrowing, an Incremental Term Borrowing, a Dollar Revolving Borrowing, a Multicurrency Revolving Borrowing or an Incremental Revolving Credit Borrowing, and whether such Borrowing is to be an ABR Borrowing, a Eurocurrency Borrowing or a Eurodollar Term SOFR Borrowing, as applicable;
(iv) in the case of a Eurodollar Eurocurrency Borrowing or a Term SOFR Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
(v) in the case of a Multicurrency Revolving Borrowing, the currency in which such Borrowing is to be denominated; and
(vvi) the location and number of the Borrower’s account to which funds are to be disbursed; provided, which however, that notwithstanding any contrary specification in any Borrowing Request, each requested Borrowing shall comply with the requirements of set forth in Section 2.02 and Section 2.04. .
(b) If no election as to the Type of Borrowing is specified, then the requested Borrowing, if denominated in Dollars, shall be an ABR Borrowing and if denominated in any other currency, shall be a Eurodollar BorrowingEurocurrency Borrowing with an Interest Period of one month. If no Interest Period is specified with respect to the Borrowing, if it is requested (any Eurocurrency Borrowing or deemed requested) as a Eurodollar Term SOFR Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. If no currency is specified then the requested Borrowing shall be denominated in Dollars. Promptly following receipt of a 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 LenderXxxxxx’s Loan to be made as part of the requested Borrowing.
Appears in 1 contract
Samples: Incremental Term Loan Assumption Agreement (TransDigm Group INC)
Requests for Borrowing. To (a) In order to request the a Borrowing, the Borrower shall notify the Administrative Agent Lender of such request either in writing by delivery of a Borrowing Request (by hand, electronic mail, or facsimile) signed by the Borrower or by telephone (ato be confirmed promptly by hand delivery, electronic mail, or facsimile of written notice) in the case of a Eurodollar Borrowing, not later than 11:00 a.m., New York City time, (A) in the case of a LIBO Rate Borrowing, three (3) Business Days before the date of the proposed Borrowing (or such later time on such Business Day as shall be acceptable to the Lender), and (bB) in the case of an ABR Borrowing, not later than 11:00 a.m., New York City time, on the date of one (1) Business Day before the proposed BorrowingBorrowing (or such later time as shall be acceptable to the Lender). Such The telephonic or written 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 information in compliance with Section 2.022.01:
(i) the aggregate amount of the requested Borrowing;
(ii) the aggregate principal amount of all Borrowings scheduled to be outstanding as of the date of the requested Borrowing (including, for this purpose, the principal amount of such requested Borrowing);
(iii) the date of such Borrowing, which shall be a Business Day;
(iv) the Guaranteed Amount as of the date of the Borrowing;
(iiiv) whether the such Borrowing is to be an ABR Borrowing or a Eurodollar LIBO Rate Borrowing;
(ivvi) in the case of a Eurodollar LIBO Rate Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”; and
(vvii) the location and number of the Borrower’s account to which funds are to be disbursed, which shall comply with the requirements of Section 2.04. .
(b) If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Eurodollar LIBO Rate Borrowing. If no Interest Period is specified with respect to the Borrowing, if it is requested (or deemed requested) as a Eurodollar any LIBO Rate Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. Promptly following receipt of .
(c) The Borrower may make no more than five (5) requests for a 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 Borrowingany given calendar month.
Appears in 1 contract
Requests for Borrowing. To (a) In order to request the Borrowinga Borrowing (other than a Swingline Loan or a deemed Borrowing pursuant to Section 2.02(e), as to which this Section 2.03 shall not apply), the Borrower shall notify the Administrative Agent of such request either in writing by delivery of a Borrowing Request (by hand or facsimile) signed by the Borrower or by telephone (ato be confirmed promptly by hand delivery or facsimile of written notice) in the case of a Eurodollar Borrowing, not later than (x) 11:00 a.m., New York City time, three Business Days before the date of the proposed Borrowing and (bA) in the case of an ABR a Term SOFR Borrowing, not three (3) U.S. Government Securities Business Days before a proposed Borrowing (or such later than time as shall be acceptable to the Agent) and (B) in the case of a Eurocurrency Borrowing denominated in an Alternative Currency or a SONIA Rate Loan, four Business Days before a proposed Borrowing (or such later time as shall be acceptable to the Agent) and (y) 11:00 a.m., New York City time, on the date of a proposed Borrowing (or such later time as shall be acceptable to the proposed Agent), in the case of an ABR Borrowing. Such Each such telephonic and written 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 information in compliance with Section 2.022.01:
(i) the aggregate amount of the requested Borrowing;
(ii) the date of the Borrowing, which shall be a Business Day;
(iii) whether the Borrowing then being requested is to be a Tranche JL Term Borrowing, an Incremental Term Borrowing, a Dollar Revolving Borrowing, a Multicurrency Revolving Borrowing or an Incremental Revolving Credit Borrowing, and whether such Borrowing is to be an ABR Borrowing, a Eurocurrency Borrowing or a Eurodollar Term SOFR Borrowing, as applicable;
(iv) in the case of a Eurodollar Eurocurrency Borrowing or a Term SOFR Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”;
(v) in the case of a Multicurrency Revolving Borrowing, the currency in which such Borrowing is to be denominated; and
(vvi) the location and number of the Borrower’s account to which funds are to be disbursed; provided, which however, that notwithstanding any contrary specification in any Borrowing Request, each requested Borrowing shall comply with the requirements of set forth in Section 2.02 and Section 2.04. .
(b) If no election as to the Type of Borrowing is specified, then the requested Borrowing, if denominated in Dollars, shall be an ABR Borrowing and if denominated in any other currency, shall be a Eurodollar BorrowingEurocurrency Borrowing with an Interest Period of one month. If no Interest Period is specified with respect to the Borrowing, if it is requested (any Eurocurrency Borrowing or deemed requested) as a Eurodollar Term SOFR Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. If no currency is specified then the requested Borrowing shall be denominated in Dollars. Promptly following receipt of a 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: Incremental Term Loan Assumption Agreement (TransDigm Group INC)
Requests for Borrowing. To (i) Each request for borrowings hereunder shall be made by notice in the Borrowing, form attached hereto as EXHIBIT C from the Borrower shall notify to the Administrative Agent (the "Notice of such request by telephone (a) in the case of a Eurodollar Borrowing"), given not later than 11:00 a.m., New York City time,
(A) on the Business Day on which the proposed borrowing is requested to be made for Revolving Loans that will be Base Rate Loans and (B) three Business Days before prior to the date of the proposed requested borrowing of Revolving Loans that will be LIBOR Loans; PROVIDED, HOWEVER, that no LIBOR Loans shall be available to the Borrower until the third Business Day after the Closing Date. Each Notice of Borrowing shall be given by either telecopy, telex or cable setting forth (1) the requested date of such borrowing, (2) the aggregate amount of such requested borrowing, (3) whether such Revolving Loans will be Base Rate Loans or LIBOR Loans, and if appropriate, the applicable Interest Period and (b4) certification by the Borrower that it has complied in all respects with ARTICLE V, all of which shall be specified in such manner as is necessary to comply with all limitations on Revolving Loans outstanding hereunder. Each Notice of Borrowing shall be irrevocable by and binding on the case Borrower. Each Loan shall be in a minimum principal amount of an ABR Borrowing$500,000 and integral multiples of $250,000 in excess thereof (or the remaining amount of the Revolving Committed Amount, not if less); PROVIDED that no more than 5 LIBOR Loans shall be outstanding hereunder at any one time. Revolving Loans may be repaid and reborrowed in accordance with the provisions hereof. The Agent shall give to each Lender prompt notice (but in no event later than 11:00 a.m., New York City time, 1:30 P.M. on the date of the proposed BorrowingAgent's receipt of notice from the Borrower) of each Notice of Borrowing by telecopy, telex or cable (other than any Notice of Borrowing which will be funded by the Agent in accordance with subsection (d)(ii) below). Such telephonic Borrowing Request shall No later than 3:00 P.M. on the date on which a borrowing is requested to be irrevocable and shall be confirmed promptly by hand delivery or telecopy made pursuant to the Administrative applicable Notice of Borrowing, each Lender will make available to the Agent at the address of a written Borrowing Request the Agent set forth in a form approved Section 13.1, in immediately available funds, its Revolving Commitment Percentage of such borrowing requested to be made. Unless the Agent shall have been notified by any Lender prior to the Administrative date of borrowing that such Lender does not intend to make available to the Agent its portion of the borrowing to be made on such date, the Agent may assume that such Lender will make such amount available to the Agent on such date of borrowing and signed by the Borrower. Such telephonic and written Borrowing Request shall specify Agent may, in reliance upon such assumption, make available the following information in compliance with Section 2.02:
(i) the aggregate amount of the borrowing to be provided by such Lender. Upon fulfillment of the conditions set forth in ARTICLE V for such borrowing, the Agent will make such funds available to the Borrower at the account specified by the Borrower in such Notice of Borrowing;.
(ii) If the amounts described in subsection (a)(i) of this Section 2.2 are not in fact made available to the Agent by a Lender (such Lender being hereinafter referred to as a "Defaulting Lender") and the Agent has made such amount available to the Borrower, the Agent shall be entitled to recover such corresponding amount on demand from such Defaulting Lender. If such Defaulting Lender does not pay such corresponding amount forthwith upon the Agent's demand therefor, the Agent shall promptly notify the Borrower and the Borrower shall immediately (but in no event later than five Business Days after such demand) pay such corresponding amount to the Agent. The Agent shall also be entitled to recover from such Defaulting Lender and the Borrower, (A) interest on such corresponding amount in respect of each day from the date such corresponding amount was made available by the Agent to the Borrower to the date such corresponding amount is recovered by the Agent, at a rate per annum equal to either (1) if paid by such Defaulting Lender, the overnight Federal Funds Rate or (2) if paid by the Borrower, the then applicable rate of interest, calculated in accordance with Section 3.1, PLUS (B) in each case, an amount equal to any costs (including legal expenses) and losses incurred as a result of the Borrowing;failure of such Defaulting Lender to provide such amount as provided in this Credit Agreement. Nothing herein shall be deemed to relieve any Lender from its obligation to fulfill its commitments hereunder or to prejudice any rights which the Borrower may have against any Lender as a result of any default by such Lender hereunder, including, without limitation, the right of the Borrower to seek reimbursement from any Defaulting Lender for any amounts paid by the Borrower under clause (B) above on account of such Defaulting Lender's default.
(iii) whether The failure of any Lender to make the Borrowing is Revolving Loan to be an ABR Borrowing or a Eurodollar Borrowing;made by it as part of any borrowing shall not relieve any other Lender of its obligation, if any, hereunder to make its Revolving Loan on the date of such borrowing, but no Lender shall be responsible for the failure of any other Lender to make the Revolving Loan to be made by such other Lender on the date of any borrowing.
(iv) Each Lender shall be entitled to earn interest at the then applicable rate of interest, calculated in accordance with ARTICLE III, on outstanding Revolving Loans which it has funded to the case of a Eurodollar BorrowingAgent from the date such Lender funded such Revolving Loan to, but excluding, the initial Interest Period to be applicable thereto, date on 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 to which funds are to be disbursed, which shall comply with the requirements of Section 2.04. If no election as to the Type of Borrowing such Lender is specified, then the Borrowing shall be a Eurodollar Borrowing. If no Interest Period is specified repaid with respect to the Borrowing, if it is requested (or deemed requested) as a Eurodollar Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. Promptly following receipt of a 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 BorrowingRevolving Loan.
Appears in 1 contract
Samples: Syndication Amendment and Assignment (Sterile Recoveries Inc)