Common use of REQUESTS FOR COMMITTED CREDIT LOANS Clause in Contracts

REQUESTS FOR COMMITTED CREDIT LOANS. (a) Each request by a Borrower for a Committed Credit Loan (each a "REQUEST FOR COMMITTED CREDIT LOAN") shall be made by notice to the Operations Agent from the Borrower Agent for such Borrower not later than 1:00 p.m. (Boston time) on the day of the proposed borrowing. The Operations Agent shall give each Bank prompt notice of the Operations Agent's receipt of any Request for Committed Credit Loan. Each Request for Committed Credit Loan shall be in writing in the form of EXHIBIT A hereto, or made by telephonic communication confirmed not later than 1:30 p.m. (Boston time) the same day by telecopy or other facsimile transmission in the form of EXHIBIT A. The Operations Agent may rely upon any telephonic Request for Committed Credit Loan which it reasonably believes is made by a Borrower Agent; PROVIDED that the Operations Agent shall not advance any Committed Credit Loan unless the Operations Agent shall have received confirmation of such telephonic Request for Committed Credit Loan in the manner set forth above. Each Borrower severally agrees to indemnify and hold the Operations Agent and each Bank harmless for any reasonable action taken, including, without limitation, the making of Committed Credit Loans hereunder to such Borrower, or loss or expense incurred, by the Operations Agent or any Bank in good faith reliance upon such telephonic Request for Committed Credit Loan; PROVIDED that no Borrower shall be liable for any such action, loss or expense to the extent that the same shall result from the gross negligence or willful misconduct of the Operations Agent or a Bank, as applicable. At the time the initial Request for Committed Credit Loan is made under this Section 2.04(a), each Borrower shall have provided the Operations Agent and the Banks with an Officer's Certificate as required by Section 6.01(e). Each Borrower hereby agrees that (i) the Operations Agent and each Bank shall be entitled to rely upon the Officer's Certificate in its possession until it is superseded by a more recent Officer's Certificate, and (ii) each Request for Committed Credit Loan submitted by a Borrower shall (A) obligate such Borrower to borrow the principal amount of the Committed Credit Loan requested thereby, and (B) constitute a representation and warranty by such Borrower to the Operations Agent and the Banks that the Committed Credit Loan requested thereby (1) is permitted under such Borrower's Prospectus, (2) will not, when made, cause the aggregate Indebtedness of such Borrower in respect of Loans to exceed such Borrower's Borrowing Base, (3) will not, when made, cause the aggregate Indebtedness of the Borrowers to the Banks in respect of Committed Credit Loans to exceed the Maximum Committed Credit Amount, (4) will not, when made, cause the aggregate Indebtedness of the Borrowers to State Street Bank in respect of Committed Credit Loans and Swing Line Loans to exceed State Street Bank's Commitment, (5) will not, when made, cause the aggregate Indebtedness of the Borrowers to the Banks in respect of Loans to exceed the Maximum Credit Amount, and (6) will be used by the Borrower only in accordance with the provisions of Section 4.08 hereof.