Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the Borrower shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H hereto (or telephonic notice confirmed in writing in the form of Exhibit H hereto) of each Revolving Credit Loan requested hereunder (a “Loan Request”) by noon (Cleveland time) one (1) Business Day prior to the proposed Drawdown Date with respect to Base Rate Loans and two (2) Business Days prior to the proposed Drawdown Date with respect to LIBOR Rate Loans. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) and (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer of the Borrower that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each such Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $100,000.00 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 in excess thereof; provided, however, that there shall be no more than five (5) Revolving Credit LIBOR Rate Loans outstanding at any one time.
Appears in 4 contracts
Samples: Credit Agreement (Carter Validus Mission Critical REIT, Inc.), Credit Agreement (Carter Validus Mission Critical REIT II, Inc.), Credit Agreement (Carter Validus Mission Critical REIT, Inc.)
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the Borrower shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H G hereto (or telephonic notice confirmed in writing in the form of Exhibit H G hereto) of each Revolving Credit Loan requested hereunder (a “Loan Request”) by noon 11:00 a.m. (Cleveland time) one (1) Business Day prior to the proposed Drawdown Date with respect to Revolving Credit Base Rate Loans and two (2) Business Days prior to the proposed Drawdown Date with respect to Revolving Credit LIBOR Rate Loans. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) and (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer of the Borrower Parent Company that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making and use of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each such Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $100,000.00 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 in excess thereof; provided, however, that there shall be no more than five (5) Revolving Credit LIBOR Rate Loans outstanding at any one time.
Appears in 4 contracts
Samples: Assignment and Acceptance Agreement (QualityTech, LP), Credit Agreement (QTS Realty Trust, Inc.), Credit Agreement (QTS Realty Trust, Inc.)
Requests for Revolving Credit Loans. Except with respect to The Borrower (i) shall notify the initial Agent of a potential request for a Revolving Credit Loan on as soon as possible prior to the Closing Borrower’s proposed Drawdown Date, the Borrower and (ii) shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H E hereto (or telephonic notice confirmed in writing in the form of Exhibit H E hereto) of each Revolving Credit Loan requested hereunder (a “Loan Request”) by noon no later than 11:00 a.m. (Cleveland time) three (3) Business Days prior to the proposed Drawdown Date if such Loan is to be a Revolving Credit LIBOR Rate Loan or no later than 2:00 p.m. (Cleveland time) one (1) Business Day prior to the proposed Drawdown Date with respect if such Loan is to be a Revolving Credit Base Rate Loans and two (2) Business Days prior to the proposed Drawdown Date with respect to LIBOR Rate LoansLoan. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loanamount, the Type of Revolving Credit LoanDrawdown Date, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown DateType. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be or has been used (which purpose shall be in accordance with the terms of §2.9) 7.11), and (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer of the general partner of the Borrower and the chief executive officer, chief financial or chief accounting officer of the Trust that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders Banks thereof. Each Except as provided in this §2.5, each such Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders Banks on the proposed Drawdown Date, provided that, in addition to the Borrower’s other remedies against any Revolving Credit Bank which fails to advance its proportionate share of a requested Revolving Credit Loan, such Loan Request may be revoked by the Borrower by notice received by the Agent no later than the Drawdown Date if any Revolving Credit Bank fails to advance its proportionate share of the requested Revolving Credit Loan in accordance with the terms of this Agreement, provided further, that the Borrower shall be liable in accordance with the terms of this Agreement to any Revolving Credit Bank which is prepared to advance its proportionate share of the requested Revolving Credit Loan for any costs, expenses or damages actually incurred by such Revolving Credit Bank as a result of the Borrower’s election to revoke such Loan Request. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender Bank that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. The Borrower may without cost or penalty revoke a Loan Request by delivering notice thereof to each of the Revolving Credit Banks no later than three (3) Business Days prior to the Drawdown Date. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a the minimum aggregate amount of $1,000,000.00 500,000 or an integral multiple of $100,000.00 100,000 in excess thereof; , or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 500,000.00 or an integral multiple of $250,000.00 100,000 in excess thereof; provided, however, that there shall be no more than five twelve (512) Revolving Credit LIBOR Rate Loans outstanding at any one time.
Appears in 3 contracts
Samples: Master Loan Agreement (Ramco Gershenson Properties Trust), Secured Master Loan Agreement (Ramco Gershenson Properties Trust), Secured Master Loan Agreement (Ramco Gershenson Properties Trust)
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the Borrower Borrowers shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H D hereto (or telephonic notice confirmed in writing in the form of Exhibit H D hereto) of each Revolving Credit Loan requested hereunder (a “Loan Request”) by noon 1:00 p.m. (Cleveland Eastern time) one (1) Business Day prior to the proposed Drawdown Date with respect to Revolving Credit Base Rate Loans and Loans, two (2) Business Days prior to the proposed Drawdown Date with respect to Revolving Credit LIBOR Rate Loans, and three (3) Business Days prior to the proposed Drawdown Date with respect to a Revolving Credit Loan to be funded in an Alternative Currency. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount (denominated in either Dollars or in an Alternative Currency) of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) and (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer of the Borrower that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each such Loan Request shall be irrevocable and binding on the Borrower Borrowers and shall obligate the Borrower Borrowers to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date. Nothing herein shall prevent the Borrower Borrowers from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate Dollar Equivalent amount of $1,000,000.00 1,000,000 or an integral multiple of $100,000.00 100,000 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate Dollar Equivalent amount of $1,000,000.00 1,000,000 or an integral multiple of $250,000.00 250,000 in excess thereof; provided, however, that there shall be no more than five ten (510) Revolving Credit LIBOR Rate Loans outstanding at any one time.
Appears in 3 contracts
Samples: Credit Agreement (CoreSite Realty Corp), Credit Agreement (CoreSite Realty Corp), Credit Agreement (CoreSite Realty Corp)
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the Borrower The Borrowers shall give to the Administrative Agent written notice executed by an Authorized Officer in the form of Exhibit H A hereto (or telephonic notice confirmed in writing by telecopy on the same Business Day in the form of Exhibit H A hereto) of each Revolving Credit Loan requested hereunder (a “"Loan and Letter of Credit Request”") by noon not later than (Cleveland timea) 11:00 a.m. Boston time one (1) Business Day prior to the proposed Drawdown Date with respect to of any Base Rate Loans and two Loan, or (2b) 11:00 a.m. Boston time three (3) Eurodollar Business Days prior to the proposed Drawdown Date with respect to LIBOR Rate Loansof any Eurodollar Loan. Each such notice shall be given by the Borrowers and shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) and (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer of the Borrower that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereofLoan requested and shall include a current Loan and Letter of Credit Request reflecting the aggregate amount of Revolving Credit Loans and Swing Line Loans outstanding and the Maximum Drawing Amount. Each such Loan and Letter of Credit Request shall be irrevocable and binding on the Borrower Borrowers and shall obligate the Borrower Borrowers to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date. Nothing herein Each of the representations and warranties made by or on behalf of the Borrowers to the Revolving Credit Lenders or the Administrative Agent in this Credit Agreement or any other Loan Document shall prevent be true and correct in all material respects when made and shall, for all purposes of this Credit Agreement, be deemed to be repeated on and as of the Borrower date of the submission of any Loan and Letter of Credit Request and on and as of the Drawdown Date of such Loan, or the date of issuance of such Letter of Credit (except to the extent of changes resulting from seeking recourse against any transactions contemplated or permitted by this Credit Agreement and the other Loan Documents and changes occurring in the ordinary course of business that singly or in the aggregate are not materially adverse, or to the extent that such representations and warranties expressly relate solely to an earlier date). The Administrative Agent shall promptly notify each Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving each Loan and Letter of Credit Loan as required Request received by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $100,000.00 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 in excess thereof; provided, however, that there shall be no more than five (5) Revolving Credit LIBOR Rate Loans outstanding at any one timethe Administrative Agent hereunder.
Appears in 3 contracts
Samples: Revolving Credit and Term Loan Agreement (Waste Connections Inc/De), Revolving Credit and Term Loan Agreement (Waste Connections Inc/De), Revolving Credit and Term Loan Agreement (Waste Connections Inc/De)
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the The Borrower shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H D hereto (or telephonic notice confirmed in writing in the form of Exhibit H D hereto) of each Revolving Credit Loan requested hereunder (a “Loan Request”) by noon 1:00 p.m. (Cleveland Eastern time) one (1) Business Day prior to the proposed Drawdown Date with respect to Revolving Credit Base Rate Loans and two (2) Business Days prior to the proposed Drawdown Date with respect to Revolving Credit LIBOR Rate Loans. , together with an executed Borrowing Base Availability Certificate in the form of Exhibit F. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) and (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer of the Borrower that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each such Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $100,000.00 in excess thereof100,000; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 in excess thereof500,000; provided, however, that there shall be no more than five six (56) Revolving Credit LIBOR Rate Loans outstanding at any one time.
Appears in 3 contracts
Samples: Credit Agreement (City Office REIT, Inc.), Credit Agreement (Wheeler Real Estate Investment Trust, Inc.), Credit Agreement (Wheeler Real Estate Investment Trust, Inc.)
Requests for Revolving Credit Loans. Except with respect to Land Company (i) shall notify the initial Agent of a potential request for a Revolving Credit Loan on the Closing as soon as possible prior to Land Company’s proposed Drawdown Date, the Borrower and (ii) shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H C-2 hereto (or telephonic notice confirmed in writing in the form of Exhibit H C-2 hereto) of each Revolving Credit Loan requested hereunder (a “Loan Request”) by noon no later than 10:00 a.m. three (Cleveland time) one (13) Business Day Days prior to the proposed Drawdown Date with respect to Base Rate Loans and Date. The Agent shall promptly notify each of the Revolving Credit Lenders following the receipt of a Loan Request, but in any event not less than two (2) Business Days prior to the proposed Drawdown Date with respect to LIBOR Rate LoansDate. Land Company shall not make a Loan Request more frequently than five (5) times each month. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loanamount, the Drawdown Date and Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date). Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) 7.11), and (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer Principal Financial Officer of the each Borrower that the Borrower and Guarantors Borrowers are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Credit Loan. Promptly upon receipt of any such noticeExcept as provided in this §2.6, the Agent shall notify each of the Revolving Credit Lenders thereof. Each such Loan Request shall be irrevocable and binding on the Borrower Land Company and shall obligate the Borrower Land Company to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date, provided that, in addition to Land Company’s other remedies against any Revolving Credit Lender which fails to advance its proportionate share of a requested Revolving Credit Loan, such Loan Request may be revoked by Land Company by notice received by the Agent no later than the Drawdown Date if any Revolving Credit Lender fails to advance its proportionate share of the requested Revolving Credit Loan in accordance with the terms of this Agreement, provided further that Land Company shall be liable in accordance with the terms of this Agreement to any Revolving Credit Lender which is prepared to advance its proportionate share of the requested Revolving Credit Loan for any costs, expenses or damages incurred by such Revolving Credit Lender as a result of Land Company’s election to revoke such Loan Request. Nothing herein shall prevent the Borrower Land Company from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Land Company may without cost or penalty revoke a Loan Request by delivering notice thereof to each of the Revolving Credit Lenders no later than 10:00 a.m. two (2) Business Days prior to the Drawdown Date. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 1,000,000 or an integral multiple of $100,000.00 100,000 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 in excess thereof; provided, however, that there shall be no more than five (5) Revolving Credit LIBOR Rate Loans outstanding at any one time.
Appears in 2 contracts
Samples: Master Credit Agreement (Howard Hughes Corp), Master Credit Agreement (Howard Hughes Corp)
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the The Borrower shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H D hereto (or telephonic notice confirmed in writing in the form of Exhibit H D hereto) of each Revolving Credit Loan requested hereunder (a “Loan Request”) by noon 11:00 a.m. (Cleveland time) one (1) Business Day prior to the proposed Drawdown Date with respect to Base Rate Loans and two three (23) Business Days prior to the proposed Drawdown Date with respect to LIBOR Rate Loans. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) and (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer of the Borrower that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Credit Loan). Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each such Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $100,000.00 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 100,000.00 in excess thereof; provided, however, that there shall be no more than five six (56) Revolving Credit LIBOR Rate Loans outstanding at any one time.
Appears in 2 contracts
Samples: Credit Agreement (MedEquities Realty Trust, Inc.), Credit Agreement (MedEquities Realty Trust, Inc.)
Requests for Revolving Credit Loans. Except with respect to the any initial Revolving Credit Loan on the Closing Date, the Borrower Borrowers shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H D hereto (or telephonic notice confirmed in writing in the form of Exhibit H D hereto) of each Revolving Credit Loan requested hereunder (a “Loan Request”) by noon 1:00 p.m. (Cleveland Eastern time) one (1) Business Day prior to the proposed Drawdown Date with respect to Revolving Credit Base Rate Loans and two (2) Business Days prior to the proposed Drawdown Date with respect to Revolving Credit LIBOR Rate Loans. , together with an executed Borrowing Base Availability Certificate in the form of Exhibit F. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) and (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer of the Borrower that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each such Loan Request shall be irrevocable and binding on the Borrower Borrowers and shall obligate the Borrower Borrowers to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date. Nothing herein shall prevent the Borrower Borrowers from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $100,000.00 in excess thereof100,000; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 in excess thereof500,000; provided, however, that there shall be no more than five four (54) Revolving Credit LIBOR Rate Loans outstanding at any one time.
Appears in 2 contracts
Samples: Credit Agreement (City Office REIT, Inc.), Credit Agreement (City Office REIT, Inc.)
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the Borrower shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H hereto (or telephonic notice confirmed in writing in the form of Exhibit H hereto; provided that the Agent and the Lenders may rely on such telephonic notice notwithstanding the lack of or discrepant information contained in a written confirmation) of each Revolving Credit Loan requested hereunder (a “Loan Request”) by noon 10:00 a.m. (Cleveland Boston time) one (1) Business Day prior to the proposed Drawdown Date with respect to Revolving Credit Base Rate Loans and two three (23) Business Days prior to the proposed Drawdown Date with respect to Revolving Credit LIBOR Rate Loans. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance Advance shall be used (which purpose shall be in accordance with the terms of §2.9) and ), (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting other financial officer of the Borrower that the Borrower and Guarantors are is and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Credit Loan, and (iii) a current calculation of the Borrowing Base with such supporting information as the Agent may require adjusted in the best good faith estimate of the Borrower to give effect to the proposed Advance. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each Except as provided in this §2.7, each such Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date; provided that, in addition to the Borrower’s other remedies against any Lender which fails to advance its proportionate share of a requested Revolving Credit Loan, such Loan Request may be revoked by the Borrower by notice received by the Agent no later than the Drawdown Date if any Lender fails to advance its proportionate share of the requested Revolving Credit Loan in accordance with the terms of this Agreement; and provided further that the Borrower shall be liable in accordance with the terms of this Agreement to any Lender which is prepared to advance its proportionate share of the requested Revolving Credit Loan for any costs, expenses or damages actually incurred by such Lender as a result of the Borrower’s election to revoke such Loan Request. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Notwithstanding anything to the contrary contained herein, the Borrower may at any time prior to any proposed Drawdown Date, provide written notice to the Agent (the “Full Advance Notice”) instructing Agent not to disburse the requested Advance, or any subsequent Advance, until such time as Agent has received from each Lender, its proportionate share of the requested Revolving Credit Loan in good funds, such that the Agent at the time of the disbursement has received 100% of the proportionate amounts due from each Lender with respect to such Advance. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 1,000,000 or an integral multiple of $100,000.00 100,000 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 2,000,000 or an integral multiple of $250,000.00 100,000 in excess thereof; provided, however, that there shall be no more than five six (56) LIBOR Rate Loans (including Revolving Credit LIBOR Rate Loans Loans) outstanding at any one time.
Appears in 2 contracts
Samples: Master Credit Agreement (Entertainment Properties Trust), Master Credit Agreement (Entertainment Properties Trust)
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the The Borrower shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H D hereto (or telephonic notice confirmed in writing in the form of Exhibit H D hereto) of each Revolving Credit Loan requested hereunder (a “Loan Request”) by noon 11:00 a.m. (Cleveland time) one (1) Business Day prior to the proposed Drawdown Date with respect to Base Rate Loans and two three (23) Business Days prior to the proposed Drawdown Date with respect to LIBOR Rate Loans. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) and (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer of the Borrower that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each such Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $100,000.00 250,000.00 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 in excess thereof; provided, however, that there shall be no more than five six (56) Revolving Credit LIBOR Rate Loans outstanding at any one time.
Appears in 2 contracts
Samples: Management Agreement (New Senior Investment Group Inc.), Credit Agreement (Condor Hospitality Trust, Inc.)
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the Parent Borrower shall give deliver to the Agent written notice executed by an Authorized Officer in the form of Exhibit H D hereto (or telephonic notice confirmed in writing in the form of Exhibit H D hereto) of each Revolving Credit Loan requested hereunder (a “Loan Request”) by noon 1:00 p.m. (Cleveland Eastern time) one (1) Business Day prior to the proposed Drawdown Date with respect to Revolving Credit Base Rate Loans and Loans, two (2) Business Days prior to the proposed Drawdown Date with respect to Revolving Credit LIBOR Rate Loans, and three (3) Business Days prior to the proposed Drawdown Date with respect to a Revolving Credit Loan to be funded in an Alternative Currency. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount (denominated in either Dollars or in an Alternative Currency) of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) and (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer of the Borrower that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each such Loan Request shall be irrevocable and binding on the Parent Borrower and shall obligate the Parent Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date. Nothing herein shall prevent the Parent Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate Dollar Equivalent amount of $1,000,000.00 1,000,000 or an integral multiple of $100,000.00 100,000 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate Dollar Equivalent amount of $1,000,000.00 1,000,000 or an integral multiple of $250,000.00 250,000 in excess thereof; provided, however, that there shall be no more than five ten (510) Revolving Credit LIBOR Rate Loans outstanding at any one time. For purposes of this §2.7, the words “executed,” “signed,” “signature,” “deliver,” “delivery,” and words of like import in or relating to a Loan Request to be signed in connection with this Agreement and the transactions contemplated hereby shall be deemed to include Electronic Signatures, deliveries or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature, physical delivery thereof or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act; provided that nothing herein shall require the Agent to accept electronic signatures in any form or format without its prior written consent.
Appears in 2 contracts
Samples: Credit Agreement (CoreSite Realty Corp), Credit Agreement (CoreSite Realty Corp)
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the Borrower shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H hereto (or telephonic notice confirmed in writing in the form of Exhibit H hereto) of each Revolving Credit Loan requested hereunder (a “Loan Request”) by noon (Cleveland time) one (1) Business Day prior to the proposed Drawdown Date with respect to Base Rate Loans and two (2) Business Days prior to the proposed Drawdown Date with respect to LIBOR Rate Loans. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) and (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer of the Borrower that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each such Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $100,000.00 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 in excess thereof; provided, however, that there shall be no more than five (5) Revolving Credit LIBOR Rate Loans outstanding at any one time.
Appears in 2 contracts
Samples: Credit Agreement (Carter Validus Mission Critical REIT, Inc.), Credit Agreement (Carter Validus Mission Critical REIT, Inc.)
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the The Borrower shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H D hereto (or telephonic notice confirmed in writing in the form of Exhibit H D hereto) of each Revolving Credit Loan requested hereunder (a “Loan Request”) by noon (Cleveland timea) 1:00 p.m. (Eastern Time) one (1) Business Day prior to the proposed Drawdown Date with respect to Revolving Credit Base Rate Loans and two (2b) 3:00 p.m. (Eastern Time) three (3) Business Days prior to the proposed Drawdown Date with respect to Revolving Credit LIBOR Rate Loans. , together with an executed Borrowing Base Availability Certificate in the form of Exhibit F. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) and (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer of the Borrower that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each such Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $100,000.00 in excess thereof500,000; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 in excess thereof1,000,000; provided, however, that there shall be no more than five (5) Revolving Credit LIBOR Rate Loans outstanding at any one time.
Appears in 1 contract
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the Borrower shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H E hereto (or telephonic notice confirmed in writing in the form of Exhibit H E hereto) of each Revolving Credit Loan requested hereunder (a “Loan Request”) by noon 11:00 a.m. (Cleveland time) one (1) Business Day prior to the proposed Drawdown Date with respect to Revolving Credit Base Rate Loans and two three (23) Business Days prior to the proposed Drawdown Date with respect to Revolving Credit LIBOR Rate Loans. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) and (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer of the Borrower that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each such Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $100,000.00 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 in excess thereof; provided, however, that there shall be no more than five six (56) Revolving Credit LIBOR Rate Loans outstanding at any one time.
Appears in 1 contract
Requests for Revolving Credit Loans. (a) Except with respect to the initial Revolving Credit Loan on the Closing Date, the Borrower shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H hereto (or telephonic notice confirmed in writing in the form of Exhibit H hereto) of each Revolving Credit Loan requested hereunder (a “Loan Request”) by noon (Cleveland time) one (1) Business Day prior to the proposed Drawdown Date with respect to Base Rate Loans and two (2) Business Days prior to the proposed Drawdown Date with respect to LIBOR Rate Loans. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) and (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer of the Borrower that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each such Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $100,000.00 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 in excess thereof; provided, however, that there shall be no more than five (5) Revolving Credit LIBOR Rate Loans outstanding at any one time.
Appears in 1 contract
Samples: Credit Agreement (Carter Validus Mission Critical REIT II, Inc.)
Requests for Revolving Credit Loans. Except with respect to the initial any Revolving Credit Loan on Loans outstanding as of the Closing Date, the Borrower shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H C hereto (or telephonic notice confirmed in writing in the form of Exhibit H G hereto) of each Revolving Credit Loan requested hereunder (a “Loan Request”) by noon 12:00 p.m. (Cleveland timeEastern Standard Time) one (1) Business Day prior to the proposed Drawdown Date with respect to Base Rate Loans and two (2) Business Days prior to the proposed Drawdown Date with respect to LIBOR SOFR Rate Loans. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) and (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer controller of the Borrower Parent that the Borrower Borrower, the Guarantors and Guarantors each Unencumbered Property Subsidiary are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each such Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate in the Minimum Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $100,000.00 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 in excess thereofAmounts; provided, however, that there shall be no more than five twelve (512) Revolving Credit LIBOR SOFR Rate Loans outstanding at any one time.
Appears in 1 contract
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the Borrower shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H D hereto (or telephonic notice confirmed in writing in the form of Exhibit H D hereto) of each Revolving Credit Loan requested hereunder (a “Loan Request”) by noon 2:00 p.m. (Cleveland time) one (1) Business Day prior to the proposed Drawdown Date with respect to Base Rate Loans and two three (23) Business Days prior to the proposed Drawdown Date with respect to LIBOR Rate Loans. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.97.19) and (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer of the Borrower that the Borrower and the Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each such Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $100,000.00 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 in excess thereof; provided, however, that there shall be no more than five (5) Revolving Credit LIBOR Rate Loans outstanding at any one time.
Appears in 1 contract
Requests for Revolving Credit Loans. (a) Except with respect to the initial Revolving Credit Loan on the Closing Date, the Borrower shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H hereto (or telephonic notice confirmed in writing in the form of Exhibit H hereto) of each Revolving Credit Loan requested hereunder (a “Loan Request”) by noon (Cleveland time) one (1) Business Day prior to the proposed Drawdown Date with respect to Base Rate Loans and two (2) Business Days prior to the proposed Drawdown Date with respect to LIBOR Rate Loans. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) and (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer of the Borrower BorrowerREIT that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each such Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $100,000.00 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 in excess thereof; provided, however, that there shall be no more than five (5) Revolving Credit LIBOR Rate Loans outstanding at any one time.
Appears in 1 contract
Samples: Credit Agreement (Carter Validus Mission Critical REIT II, Inc.)
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the Borrower The Borrowers shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H C hereto (or telephonic notice confirmed in writing by telecopy on the same Business Day in the form of Exhibit H C hereto) of each Revolving Credit Loan requested hereunder (a “"Loan and Letter of Credit Request”") by noon not later than (Cleveland a) 9:00 a.m. (Boston time) one (1) Business Day prior to on the proposed Drawdown Date with respect to of any Base Rate Loans and two Loan, or (2b) three (3) LIBOR Business Days prior to the proposed Drawdown Date with respect to of any LIBOR Rate LoansLoan. Each such notice shall be given by the Parent as agent for the Borrowers and shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) and (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer of the Borrower that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereofLoan requested and shall include a current Loan and Letter of Credit Request, reflecting the Maximum Drawing Amount of all Letters of Credit outstanding. Each such Loan and Letter of Credit Request shall be irrevocable and binding on the Borrower Borrowers and shall obligate the Borrower Borrowers to accept the Revolving Credit Loan requested from the Revolving Credit Lenders Banks on the proposed Drawdown Date. Nothing herein Each of the representations and warranties made by or on behalf of any of the Borrowers to the Banks or the Agent in this Agreement or any other Loan Document shall prevent be true and correct in all material respects when made and shall, for all purposes of this Agreement, be deemed to be repeated on and as of the Borrower date of the submission of any Loan and Letter of Credit Request and on and as of the Drawdown Date of any Loan (including Swing Line Loans) or the date of issuance or renewal of any Letter of Credit (except to the extent of changes resulting from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required transactions contemplated or permitted by this AgreementAgreement and the other Loan Documents and changes occurring in the ordinary course of business that do not in the aggregate have a material adverse effect on the Borrowers taken as a whole, or to the extent that such representations and warranties expressly relate to an earlier date). Each The Agent shall promptly notify each Bank of each Loan and Letter of Credit Request shall be received by the Agent (ai) for a Revolving Credit not later than 12:00 p.m. (Boston time) on the proposed Drawdown Date of any Base Rate Loan, (ii) three (3) LIBOR Business Days prior to the proposed Drawdown Date of any LIBOR Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $100,000.00 in excess thereof; to be made to the Borrowers. or (biii) for on a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount monthly basis with respect to Letters of $1,000,000.00 or an integral multiple of $250,000.00 in excess thereof; provided, however, that there shall be no more than five (5) Revolving Credit LIBOR Rate Loans outstanding at any one timeCredit.
Appears in 1 contract
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, if any, the Borrower shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H D hereto (or telephonic notice confirmed in writing in the form of Exhibit H D hereto) of each Revolving Credit Loan requested hereunder (a “Loan Request”) by noon 11:00 a.m. (Cleveland time) one (1) Business Day prior to the proposed Drawdown Date with respect to Revolving Credit Base Rate Loans and two three (23) Business Days prior to the proposed Drawdown Date with respect to Revolving Credit LIBOR Rate Loans. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (ia) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) ), and (iib) a certification by the chief executive officer, president, president or chief financial officer or chief accounting officer of the Borrower REIT that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each such Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $100,000.00 250,000.00 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 1,000,000.00 in excess thereof; provided, however, that there shall be no more than five ten (510) Revolving Credit LIBOR Rate Loans outstanding at any one time.
Appears in 1 contract
Samples: Credit Agreement (GTJ Reit, Inc.)
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the Borrower shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H F hereto (or telephonic notice confirmed in writing in the form of Exhibit H F hereto) of each Revolving Credit Loan requested hereunder (a “Revolving Credit Loan Request”) by noon 11:00 a.m. (Cleveland time) one (1) Business Day prior to the proposed Drawdown Date with respect to Revolving Credit Base Rate Loans and two three (23) Business Days prior to the proposed Drawdown Date with respect to Revolving Credit LIBOR Rate Loans. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) and (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer (or other accounting officer reasonably approved by Agent) of the Borrower (or of REIT) that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making and use of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each such Revolving Credit Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date; provided, that such Loan Request may, by notice to the Agent delivered simultaneously with such Loan Request, be made contingent on the consummation of a refinancing or other transaction, and may in such event be modified or rescinded if such refinancing or other transaction does not close on the originally anticipated closing date; provided, further, that Borrower shall remain liable for any Breakage Costs. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Revolving Credit Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $100,000.00 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 in excess thereof; provided, however, that there shall be no more than five ten (510) Revolving Credit LIBOR Rate Loans (whether Term Loan, Revolving Credit Loan or Bid Loan) outstanding at any one timetime unless all of the Lenders agree to allow additional LIBOR Rate Loans.
Appears in 1 contract
Samples: Credit Agreement (CyrusOne Inc.)
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the The Borrower shall give to -------- the Agent written notice executed by an Authorized Officer in the form of Exhibit H C hereto (or telephonic notice ------- - confirmed in a writing in the form of Exhibit H C hereto) of each Revolving Credit ------- - Loan requested hereunder (a “"Loan Request”") by noon no less than (Cleveland timea) one (1) Business Day prior to the proposed Drawdown Date with respect to of any Base Rate Loans Loan and two (2b) three (3) Eurodollar Business Days prior to the proposed Drawdown Date of any Eurodollar Rate Loan; provided, however, the Borrower shall not request any Eurodollar Rate -------- ------- Loans with respect an Interest Period of more than one month until the date on which the Agent notifies the Borrower that the Loans hereunder have been syndicated to LIBOR Rate Loansthe satisfaction of the Agent, and all Interest Periods during such period shall end on the same date. The term "syndicated to the satisfaction of the Agent" as used in this (S)2.6 means a syndication satisfactory to the Agent and FRS and after which Fleet's Commitment plus its portion of the Term Loan does not exceed ---- $20,000,000. Each such notice shall specify with respect to (i) the requested principal amount of the Revolving Credit Loan requested, (ii) the proposed principal amount Drawdown Date of such Revolving Credit Loan, (iii) the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and (iv) the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) and (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer of the Borrower that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making Type of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders Banks thereof. Each such Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders Banks on the proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 500,000 or an integral multiple of $100,000.00 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 in excess thereof; provided, however, that there shall be no more than five (5) Revolving Credit LIBOR Rate Loans outstanding at any one time.
Appears in 1 contract
Samples: Revolving Credit and Term Loan Agreement (Mapics Inc)
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the The Borrower shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H D hereto (or telephonic notice confirmed in writing in the form of Exhibit H D hereto) of each Revolving Credit Loan requested hereunder (a “Loan Request”) by noon 11:00 a.m. (Cleveland time) one (1) Business Day prior to the proposed Drawdown Date with respect to Base Rate Loans and two three (23) Business Days prior to the proposed Drawdown Date with respect to LIBOR Rate Loans. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (ia) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) ), and (iib) a certification by the chief executive officer, president, president or chief financial officer or chief accounting officer of the Borrower REIT that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each such Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $100,000.00 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 in excess thereof; or (b) for a LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $1,000,000.00 in excess thereof; provided, however, that there shall be no more than five (5) Revolving Credit LIBOR Rate Loans outstanding at any one time.
Appears in 1 contract
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the Borrower The Borrowers shall give to the Agent telephonic and written notice executed by an Authorized Officer (such written notice to be in the form of Exhibit H hereto (or telephonic notice confirmed in writing in the form of Exhibit H B hereto) of each Revolving Credit Loan requested hereunder (a “Revolving Credit Loan Request”) by (a) prior to noon (Cleveland Chicago time) on the proposed Drawdown Date of any such Loan equal to or less than $5,000,000 and (b) prior to noon (Chicago time) on the date which is one (1) Business Day prior to the proposed Drawdown Date with respect of any such Loan in excess of $5,000,000; provided that no such notice shall be required for the borrowings which are deemed to Base Rate Loans occur at the Roll-Up Effective Time. Each such written notice shall specify the principal amount of the Revolving Credit Loan requested and two (2) Business Days prior to the proposed Drawdown Date with respect to LIBOR Rate Loans. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) and (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer of the Borrower that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Credit Loan. Promptly upon Upon receipt of any such noticenotices, the Agent shall promptly notify each of the Revolving Credit Lenders thereof. Each such Revolving Credit Loan Request shall be irrevocable and binding on the Borrower Borrowers and shall obligate the Borrower Borrowers to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Each Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 100,000 or an integral multiple of $100,000.00 50,000 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan . Unless the Agent is otherwise directed in a minimum aggregate writing by the Borrowers, the proceeds of each requested borrowing after the Closing Date will be made available to the Borrowers by the Agent by wire transfer of such amount of $1,000,000.00 or an integral multiple of $250,000.00 to the Borrowers pursuant to the wire transfer instructions specified on the signature page hereto in excess thereof; provided, however, that there shall be no more than five (5) Revolving Credit LIBOR Rate Loans outstanding at any one timerelation to the Borrowers.
Appears in 1 contract
Samples: Possession Credit Agreement (Real Mex Restaurants, Inc.)
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the Borrower Borrowers shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H D hereto (or telephonic notice confirmed in writing in the form of Exhibit H D hereto) of each Revolving Credit Loan requested hereunder (a “Loan Request”) by noon 1:00 p.m. (Cleveland Eastern time) one (1) Business Day prior to the proposed Drawdown Date with respect to Revolving Credit Base Rate Loans and two (2) Business Days prior to the proposed Drawdown Date with respect to Revolving Credit LIBOR Rate Loans. , together with an executed Availability Certificate in the form of Exhibit F. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) and (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer of the Borrower that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each such Loan Request shall be irrevocable and binding on the Borrower Borrowers and shall obligate the Borrower Borrowers to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date. Nothing herein shall prevent the Borrower Borrowers from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $100,000.00 in excess thereof100,000.00; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 in excess thereof500,000.00; provided, however, that there shall be no more than five seven (57) Revolving Credit LIBOR Rate Loans outstanding at any one time.
Appears in 1 contract
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the Borrower shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H hereto (or telephonic notice confirmed in writing in the form of Exhibit H hereto) of each Revolving Credit Loan requested hereunder (a “Loan Request”) by noon 11:00 a.m. (Cleveland time) one (1) Business Day prior to the proposed Drawdown Date with respect to Revolving Credit Base Rate Loans and two three (23) Business Days prior to the proposed Drawdown Date with respect to Revolving Credit LIBOR Rate Loans. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) and (ii) a certification by the chief executive financial officer, president, chief financial officer or chief accounting officer or senior vice president-treasurer of the Borrower that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each such Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $100,000.00 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 in excess thereof; provided, however, that there shall be no more than five (5) Revolving Credit LIBOR Rate Loans outstanding at any one time.
Appears in 1 contract
Requests for Revolving Credit Loans. Except with respect to the initial extent a Revolving Credit Loan on is automatically disbursed as a result of an account sweep under the Closing Date, cash management system established by the Borrower with the Administrative Agent, each Revolving Credit Loan shall give to be made upon the Borrower giving the Administrative Agent irrevocable written notice executed by an Authorized Officer in the form of Exhibit H A attached hereto (a "Notice of Borrowing") (or telephonic notice confirmed in writing a Notice of Borrowing) accompanied by an appropriately completed Borrowing Base Certificate in the form of Exhibit H hereto) of each Revolving Credit Loan requested hereunder B attached hereto (a “Loan Request”"Borrowing Base Certificate") by noon (Cleveland time) one (1) Business Day prior to the proposed Drawdown Date with respect to Base Rate Loans and two (2) Business Days prior to the proposed Drawdown Date with respect to LIBOR Rate Loans. Each such notice shall specify with respect to showing sufficient availability for the requested Revolving Credit Loan Loan, each of the proposed principal amount foregoing signed by a Responsible Officer of Xxxxxxxx, and such other information as may reasonably be requested by the Administrative Agent to support and verify the calculation of the Revolver Borrowing Base and the Cigarette Buy-In Borrowing Base, as applicable, as set forth on the Borrowing Base Certificate delivered to the Administrative Agent. Delivery of a Borrowing Base Certificate to the Administrative Agent may be made by (i) facsimile transmission provided the original thereof is mailed to the Administrative Agent on the same day of such Revolving Credit Loanfacsimile transmission, (ii) hand delivery, or (iii) electronic transmission to the Type of Revolving Credit Loan, the initial Interest Period (if applicable) electronic address for such sending and receiving communications by electronic means set forth on Schedule 11.13 attached hereto. Each request for a Revolving Credit Loan communicated to the Administrative Agent telephonically shall be followed promptly by confirmation in writing. Each Notice of Borrowing shall constitute the representation and warranty of the Loan Parties to the Administrative Agent and the Drawdown Date. Each Lenders that on the date of such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) request, and (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer of the Borrower that the Borrower before and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making application of the Borrowing requested thereby, (i) all representations and warranties set forth in Article V are true and correct in all material respects as though made on the date of such Revolving Credit Loan. Promptly upon receipt request, and (ii) no Potential Default or Event of any such notice, the Agent Default shall notify each of the Revolving Credit Lenders thereof. Each such Loan Request shall have occurred and be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $100,000.00 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 in excess thereof; provided, however, that there shall be no more than five (5) Revolving Credit LIBOR Rate Loans outstanding at any one timecontinuing.
Appears in 1 contract
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the Borrower shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H G hereto (or telephonic notice confirmed in writing in the form of Exhibit H G hereto) of each Revolving Credit Loan requested hereunder (a “Loan Request”) by noon 11:00 a.m. (Cleveland time) one (1) Business Day prior to the proposed Drawdown Date with respect to Revolving Credit Base Rate Loans and two (2) Business Days prior to the proposed Drawdown Date with respect to Revolving Credit LIBOR Rate Loans. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.92.8) and (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer of the Borrower RPB that the Borrower and the Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each such Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $100,000.00 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 in excess thereof; provided, however, that there shall be no more than five six (56) Revolving Credit LIBOR Rate Loans outstanding at any one time.
Appears in 1 contract
Samples: Assignment and Acceptance Agreement (Republic Property Trust)
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the Borrower shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H hereto (or telephonic notice confirmed in writing in the form of Exhibit H hereto; provided that the Agent and the Lenders may rely on such telephonic notice notwithstanding the lack of or discrepant information contained in a written confirmation) of each Revolving Credit Loan requested hereunder (a “"Loan Request”") by noon 10:00 a.m. (Cleveland Boston time) one (1) Business Day prior to the proposed Drawdown Date with respect to Revolving Credit Base Rate Loans and two three (23) Business Days prior to the proposed Drawdown Date with respect to Revolving Credit LIBOR Rate Loans. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance Advance shall be used (which purpose shall be in accordance with the terms of §2.9) and ss.2.9), (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer of the Borrower that the Borrower and Guarantors are is and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Credit Loan, and (iii) a current calculation of the Borrowing Base with such supporting information as the Agent may require adjusted in the best good faith estimate of the Borrower to give effect to the proposed Advance. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each Except as provided in this ss.2.7, each such Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date; provided that, in addition to the Borrower's other remedies against any Lender which fails to advance its proportionate share of a requested Revolving Credit Loan, such Loan Request may be revoked by the Borrower by notice received by the Agent no later than the Drawdown Date if any Lender fails to advance its proportionate share of the requested Revolving Credit Loan in accordance with the terms of this Agreement; and provided further that the Borrower shall be liable in accordance with the terms of this Agreement to any Lender which is prepared to advance its proportionate share of the requested Revolving Credit Loan for any costs, expenses or damages actually incurred by such Lender as a result of the Borrower's election to revoke such Loan Request. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Notwithstanding anything to the contrary contained herein, the Borrower may at any time prior to any proposed Drawdown Date, provide written notice to the Agent (the "Full Advance Notice") instructing Agent not to disburse the requested Advance, or any subsequent Advance, until such time as Agent has received from each Lender, its proportionate share of the requested Revolving Credit Loan in good funds, such that the Agent at the time of the disbursement has received 100% of the proportionate amounts due from each Lender with respect to such Advance. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 1,000,000 or an integral multiple of $100,000.00 100,000 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 2,000,000 or an integral multiple of $250,000.00 100,000 in excess thereof; provided, however, that there shall be no more than five (5) LIBOR Rate Loans (including Revolving Credit LIBOR Rate Loans Loans) outstanding at any one time.
Appears in 1 contract
Samples: Master Credit Agreement (Entertainment Properties Trust)
Requests for Revolving Credit Loans. Except with respect to the initial any Revolving Credit Loan on Loans outstanding as of the Closing Date, the Borrower shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H C hereto (or telephonic notice confirmed in writing in the form of Exhibit H G hereto) of each Revolving Credit Loan requested hereunder (a “Loan Request”) by noon 12:00 p.m. (Cleveland time) one (1) Business Day prior to the proposed Drawdown Date with respect to Base Rate Loans and two (2) Business Days prior to the proposed Drawdown Date with respect to LIBOR Rate Loans. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) and (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer of the Borrower Parent that the Borrower and the Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each such Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 500,000.00 or an integral multiple of $100,000.00 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 500,000.00 or an integral multiple of $250,000.00 100,000.00 in excess thereof; provided, however, that there shall be no more than five seven (57) Revolving Credit LIBOR Rate Loans outstanding at any one time.
Appears in 1 contract
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the The Borrower shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H B hereto (or telephonic notice confirmed in a writing in the form of Exhibit H B hereto) of each Revolving Credit Loan requested hereunder (a “"Loan Request”") by noon no less than 1:00 p.m. (Cleveland Boston time) (a) one (1) Business Day prior to the proposed Drawdown Date with respect to of any Base Rate Loans Loan and two (2b) three (3) Eurodollar Business Days prior to the proposed Drawdown Date of any Eurodollar Rate Loan, provided, however, the Borrower shall not request any Eurodollar Rate Loans with respect an Interest Period of more than one month until the date which is the earlier to LIBOR Rate Loansoccur of (i) sixty (60) Business Days following the Closing Date or (ii) the date on which the Revolving Credit Loans hereunder have been syndicated to the satisfaction of the Agent. Each such notice shall specify with respect to (i) the requested principal amount of the Revolving Credit Loan requested, (ii) the proposed principal amount Drawdown Date of such Revolving Credit Loan, (iii) the Type of Interest Period for such Revolving Credit Loan, (iv) the initial Interest Period (if applicable) for Type of such Revolving Credit Loan and (v) whether the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) and (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer of the Borrower that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making proceeds of such Revolving Credit LoanLoan shall be used to finance all or any part of a Permitted Acquisition. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders Banks thereof. Each such Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders Banks on the proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 500,000 or an a larger integral multiple of $100,000.00 in excess thereof; 100,000. In addition, if all or (b) for a any portion of the proceeds of the Revolving Credit LIBOR Rate Loan being requested is being used to finance all or any portion of a Permitted Acquisition, except in the case of a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 in excess thereof; providedNominally Financed Acquisition, however, that there the Borrower shall be no more deliver to the Agent not less than five (5) days prior to the proposed Drawdown Date of such Revolving Credit LIBOR Rate Loans outstanding at Loan a written notification describing the relevant Permitted Financed Acquisition to be consummated, copies of all material documents, agreements and instruments to be entered into by the Borrower in connection with such Permitted Financed Acquisition, and the purchase price for such Permitted Financed Acquisition (which purchase price plus all transaction costs related thereto shall not be less than the amount of the Revolving Credit Loan so requested). Subject to the foregoing, and subject to the satisfaction of the conditions set forth in (S)12, so long as no Default or Event of Default shall have occurred and be continuing, and all of the applicable conditions set forth in this Credit Agreement shall have been met, including, but not limited to the Borrower having taken all action necessary and required pursuant to the terms of this Credit Agreement and the other Loan Documents to perfect the Agent's first priority security interest in the assets being acquired (or, in the event any one timeSubsidiary is formed as a result of or in connection with such acquisition, such Subsidiary shall be a Restricted Subsidiary, and the Loan Documents shall be amended and/or supplemented as necessary to make the terms and conditions of the Loan Documents applicable to such Restricted Subsidiary), and the Agent being satisfied with the terms of the proposed Permitted Financed Acquisition, each Bank shall lend to the Borrower such Bank's Commitment Percentage of the Revolving Credit Loan so requested in immediately available funds not later than the close of business on such Drawdown Date.
Appears in 1 contract
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the Borrower shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H D hereto (or telephonic notice confirmed in writing in the form of Exhibit H D hereto) of each Revolving Credit Loan requested hereunder (a “Loan Request”) by noon 11:00 a.m. (Cleveland time) one (1) Business Day prior to the proposed Drawdown Date with respect to Base Rate Loans and two three (23) Business Days prior to the proposed Drawdown Date with respect to LIBOR Rate Loans. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) and (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer of Borrower (or of the Borrower REIT) that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each such Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $100,000.00 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 in excess thereof; provided, however, that there shall be no more than five (5) Revolving Credit LIBOR Rate Loans outstanding at any one time.
Appears in 1 contract
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the Borrower shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H hereto (or telephonic notice confirmed in writing in the form of Exhibit H hereto) of each Revolving Credit Loan requested hereunder (a “"Loan Request”") by noon 9:00 a.m. (Cleveland Boston time) one (1) on the Business Day prior to of the proposed Drawdown Date with respect to Revolving Credit Base Rate Loans and two three (23) Business Days prior to the proposed Drawdown Date with respect to Revolving Credit LIBOR Rate Loans. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance Advance shall be used (which purpose shall be in accordance with the terms of §2.9) and ss.2.9), (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer of the Borrower that the Borrower and Guarantors the Guarantor are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Loan, and (iii) a current calculation of the Borrowing Base and the Credit LoanEvent Maximum Outstanding Amount with such supporting information as the Agent may require adjusted in the best good faith estimate of the Borrower to give effect to the proposed Advance. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each Except as provided in this ss.2.7, each such Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date; provided that, in addition to the Borrower's other remedies against any Revolving Credit Lender which fails to advance its proportionate share of a requested Revolving Credit Loan, such Loan Request may be revoked by the Borrower by notice received by the Agent no later than the Drawdown Date if any Revolving Credit Lender fails to advance its proportionate share of the requested Revolving Credit Loan in accordance with the terms of this Agreement; and provided further that the Borrower shall be liable in accordance with the terms of this Agreement to any Revolving Credit Lender which is prepared to advance its proportionate share of the requested Revolving Credit Loan for any costs, expenses or damages actually incurred by such Revolving Credit Lender as a result of the Borrower's election to revoke such Loan Request. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Notwithstanding anything to the contrary contained herein, the Borrower may at any time prior to any proposed Drawdown Date, provide written notice to the Agent (the "Full Advance Notice") instructing Agent not to disburse the requested Advance, or any subsequent Advance, until such time as Agent has received from each Revolving Credit Lender, its proportionate share of the requested Revolving Credit Loan in good funds, such that the Agent at the time of the disbursement has received 100% of the proportionate amounts due from each Revolving Credit Lender with respect to such Advance. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 1,000,000 or an integral multiple of $100,000.00 100,000 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 2,000,000 or an integral multiple of $250,000.00 100,000 in excess thereof; provided, however, that there shall be no more than five (5) LIBOR Rate Loans (including Revolving Credit LIBOR Rate Loans and Term LIBOR Rate Loans) outstanding at any one time.
Appears in 1 contract
Samples: Master Credit Agreement (Entertainment Properties Trust)
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the Borrower The Domestic Borrowers shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H B hereto (or telephonic notice confirmed in writing in the form of Exhibit H B hereto) of each Revolving Credit Loan requested hereunder (a “"Revolving Credit Loan Request”") by noon no less than (Cleveland timei) one (1) Business Day prior to the proposed Drawdown Date with respect to of any Base Rate Loans Loan or at such other time as may be agreed by the Domestic Borrowers and two the Agent, and (2ii) three (3) Eurocurrency Business Days prior to the proposed Drawdown Date with respect to LIBOR of any Eurocurrency Rate LoansLoan. Each such notice shall specify with respect to the requested Revolving Credit Loan Request shall specify (A) the principal amount of the Revolving Credit Loan requested, (B) the proposed Drawdown Date of such Revolving Credit Loan, (C) the Interest Period for such Revolving Credit Loan, (D) the Type of such Revolving Credit Loan and (E) the account or accounts to which the principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (i) a general statement as is to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) and (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer of the Borrower that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Credit Loantransferred. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Domestic Lenders thereof. Each such Revolving Credit Loan Request shall be irrevocable and binding on the Borrower Domestic Borrowers and shall obligate the Borrower Domestic Borrowers to accept the Revolving Credit Loan requested from the Revolving Credit Domestic Lenders or, as the case may be, from the Agent on behalf of the Domestic Lenders, on the proposed Drawdown DateDate therefor. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Each Revolving Credit Loan as required by this Agreement. Each Loan Request loan shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 500,000 or an integral multiple of $100,000.00 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 in excess thereof; provided, however, that there shall be no more than five (5) Revolving Credit LIBOR Rate Loans outstanding at any one time.
Appears in 1 contract
Samples: Credit Agreement (Ict Group Inc)
Requests for Revolving Credit Loans. Except with respect to the any initial Revolving Credit Loan on the Closing Date, the Borrower shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H D hereto (or telephonic notice confirmed in writing in the form of Exhibit H D hereto) of each Revolving Credit Loan requested hereunder (a “Loan Request”) by noon 1:00 p.m. (Cleveland Eastern time) one (1) Business Day prior to the proposed Drawdown Date with respect to Revolving Credit Base Rate Loans and two (2) Business Days prior to the proposed Drawdown Date with respect to Revolving Credit LIBOR Rate Loans. , together with an executed Borrowing Base Availability Certificate in the form of Exhibit F. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) and (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer of the Borrower that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each such Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $100,000.00 in excess thereof100,000; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple 500,000 and minimum increments of $250,000.00 250,000 in excess thereof; provided, however, that there shall be no more than five six (56) Revolving Credit LIBOR Rate Loans outstanding at any one time.
Appears in 1 contract
Requests for Revolving Credit Loans. Except with respect to the initial extent a Revolving Credit Loan on is automatically disbursed as a result of an account sweep under the Closing Date, cash management system established by the Borrower with the Administrative Agent, each Revolving Credit Loan shall give to be made upon the Borrower giving the Administrative Agent irrevocable written notice executed by an Authorized Officer in the form of Exhibit H A attached hereto (a “Notice of Borrowing”) (or telephonic notice confirmed in writing a Notice of Borrowing) accompanied by an appropriately completed Borrowing Base Certificate in the form of Exhibit H hereto) of each Revolving Credit Loan requested hereunder B attached hereto (a “Loan RequestBorrowing Base Certificate”) by noon (Cleveland time) one (1) Business Day prior to the proposed Drawdown Date with respect to Base Rate Loans and two (2) Business Days prior to the proposed Drawdown Date with respect to LIBOR Rate Loans. Each such notice shall specify with respect to showing sufficient availability for the requested Revolving Credit Loan Loan, each of the proposed principal amount foregoing signed by a Responsible Officer of Borrower, and such other information as may reasonably be requested by the Administrative Agent to support and verify the calculation of the Revolver Borrowing Base, as applicable, as set forth on the Borrowing Base Certificate delivered to the Administrative Agent. Delivery of a Borrowing Base Certificate to the Administrative Agent may be made by (i) facsimile transmission provided the original thereof is mailed to the Administrative Agent on the same day of such Revolving Credit Loanfacsimile transmission, (ii) hand delivery, or (iii) electronic transmission to the Type of Revolving Credit Loan, the initial Interest Period (if applicable) electronic address for such sending and receiving communications by electronic means set forth on Schedule 11.13 attached hereto. Each request for a Revolving Credit Loan communicated to the Administrative Agent telephonically shall be followed promptly by confirmation in writing. Each Notice of Borrowing shall constitute the representation and warranty of the Loan Parties to the Administrative Agent and the Drawdown Date. Each Lenders that on the date of such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) request, and (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer of the Borrower that the Borrower before and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making application of the Borrowing requested thereby, (i) all representations and warranties set forth in Article V are true and correct in all material respects as though made on the date of such Revolving Credit Loanrequest, and (ii) no Potential Default or Event of Default shall have occurred and be continuing. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each such Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $100,000.00 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 in excess thereof; provided, however, that there shall be no more than five (5) Revolving Credit LIBOR Rate Loans outstanding at any one time.
Appears in 1 contract
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the Borrower Borrowers shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H D hereto (or telephonic notice confirmed in writing in the form of Exhibit H D hereto) of each Revolving Credit Loan requested hereunder (a “Loan Request”) by noon 1:00 p.m. (Cleveland Eastern time) one (1) Business Day prior to the proposed Drawdown Date with respect to Base Rate Loans and two (2) Business Days prior to the proposed Drawdown Date with respect to LIBOR Rate Loans, together with an executed Availability Certificate. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) and (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer of the Borrower that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each such Loan Request shall be irrevocable and binding on the Borrower Borrowers and shall obligate the Borrower Borrowers to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date. Nothing herein shall prevent the Borrower Borrowers from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $100,000.00 in excess thereof100,000.00; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 in excess thereof500,000.00; provided, however, that there shall be no more than five seven (57) Revolving Credit LIBOR Rate Loans outstanding at any one time.
Appears in 1 contract
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the The Borrower shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H C hereto (or telephonic notice confirmed in a writing in the form of Exhibit H C hereto) of each Revolving Credit Loan requested hereunder (a “Loan Request”) by noon no less than (Cleveland timea) one (1) Business Day prior to the proposed Drawdown Date with respect to of any Base Rate Loans Loan and two (2b) three (3) LIBOR Business Days prior to the proposed Drawdown Date with respect to of any LIBOR Rate LoansLoan. Each such notice shall specify with respect to (i) the requested principal amount of the Revolving Credit Loan requested, (ii) the proposed principal amount Drawdown Date of such Revolving Credit Loan, (iii) the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and (iv) the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) and (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer of the Borrower that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making Type of such Revolving Credit Loan; and (v) the amount of the proceeds of such Revolving Credit Loan which are being used to fund all or any portion of a Permitted Acquisition, if any and, which portion of the Revolving Credit Loan being requested constitutes an Individual Overadvance Amount (if any). To the extent the Borrower fails to identify whether all or any portion of a requested Revolving Credit Loan is to be an Individual Overadvance Amount, such requested Revolving Credit Loan shall not be considered an Individual Overadvance Amount. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders Banks thereof. Each such Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders Banks on the proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 500,000 or an integral multiple of $100,000.00 100,000 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 in excess thereof; provided, however, that there shall be no more than five (5) Revolving Credit LIBOR Rate Loans outstanding at any one time.
Appears in 1 contract
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the Borrower Borrowers shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H G hereto (or telephonic notice confirmed in writing in the form of Exhibit H G hereto) of each Revolving Credit Loan requested hereunder (a “Loan Request”) by noon 11:00 a.m. (Cleveland time) one (1) Business Day prior to the proposed Drawdown Date with respect to Revolving Credit Base Rate Loans and two (2) Business Days prior to the proposed Drawdown Date with respect to Revolving Credit LIBOR Rate Loans. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) and (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer of the Parent Borrower that the Borrower and Guarantors Borrowers are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each such Loan Request shall be irrevocable and binding on the Borrower Borrowers and shall obligate the Borrower Borrowers to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date. Nothing herein shall prevent the Borrower Borrowers from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $100,000.00 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 in excess thereof; provided, however, that there shall be no more than five eight (5) 8) Revolving Credit LIBOR Rate Loans outstanding at any one time.
Appears in 1 contract
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the Borrower shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H D hereto (or telephonic notice confirmed in writing in the form of Exhibit H D hereto) of each Revolving Credit Loan requested hereunder (a “Loan Request”) by noon 11:00 a.m. (Cleveland time) one (1) Business Day prior to the proposed Drawdown Date with respect to Base Rate Loans and two three (23) Business Days prior to the proposed Drawdown Date with respect to LIBOR Rate Loans. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) and (ii) a certification by the chief executive financial officer, president, chief financial officer or chief accounting officer or senior vice president-treasurer of the Borrower that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each such Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $100,000.00 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 in excess thereof; provided, however, that there shall be no more than five (5) Revolving Credit LIBOR Rate Loans outstanding at any one time.
Appears in 1 contract
Samples: Credit Agreement (Tier Reit Inc)
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the The Borrower shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H D hereto (or telephonic notice confirmed in writing in the form of Exhibit H D hereto) of each Revolving Credit Loan requested hereunder (a “Loan Request”) by noon 11:00 a.m. (Cleveland time) one (1) Business Day prior to the proposed Drawdown Date with respect to Base Rate Loans and two three (23) Business Days prior to the proposed Drawdown Date with respect to LIBOR Rate Loans. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (ia) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) ), and (iib) a certification by the chief executive officer, president, chief financial officer or chief accounting officer of the Borrower an Authorized Monogram Officer that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each such Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $100,000.00 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 in excess thereof; provided. Notwithstanding anything to the contrary contained herein, however, that there shall be no more than five eight (5) Revolving Credit 8) LIBOR Rate Loans (including Term LIBOR Rate Loans) outstanding at any one time.
Appears in 1 contract
Samples: Credit Agreement (Monogram Residential Trust, Inc.)
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the The Borrower shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H D hereto (or telephonic notice confirmed in writing in the form of Exhibit H D hereto) of each Revolving Credit Loan requested hereunder (a “Loan Request”) by noon 11:00 a.m. (Cleveland time) one (1) Business Day prior to the proposed Drawdown Date with respect to Base Rate Loans and two three (23) Business Days prior to the proposed Drawdown Date with respect to LIBOR Rate Loans. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (ia) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) and (iib) a certification by the chief executive officer, president, chief financial officer or chief accounting officer an Authorized Officer of the Borrower that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each such Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 250,000.00 or an integral multiple of $100,000.00 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 250,000.00 or an integral multiple of $250,000.00 100,000.00 in excess thereof; provided, however, that there shall be no more than five six (56) Revolving Credit LIBOR Rate Loans outstanding at any one time.
Appears in 1 contract
Samples: Credit Agreement (NorthStar Healthcare Income, Inc.)
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the Borrower Borrowers shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H D hereto (or telephonic notice confirmed in writing in the form of Exhibit H D hereto) of each Revolving Credit Loan requested hereunder (a “Loan Request”) by noon 1:00 p.m. (Cleveland Eastern time) one (1) Business Day prior to the proposed Drawdown Date with respect to Revolving Credit Base Rate Loans and two (2) Business Days prior to the proposed Drawdown Date with respect to Revolving Credit LIBOR Rate Loans. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) and (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer of the Borrower that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each such Loan Request shall be irrevocable and binding on the Borrower Borrowers and shall obligate the Borrower Borrowers to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date. Nothing herein shall prevent the Borrower Borrowers from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 1,000,000 or an integral multiple of $100,000.00 100,000 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 1,000,000 or an integral multiple of $250,000.00 250,000 in excess thereof; provided, however, that there shall be no more than five ten (510) Revolving Credit LIBOR Rate Loans outstanding at any one time.
Appears in 1 contract
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the Any Borrower shall give to the Agent Agent, and in the event such Borrower is a Foreign Borrower requesting an Optional Currency, to the Nassau Branch with a copy to the Agent, written notice executed by an Authorized Officer in the form of Exhibit H EXHIBIT B hereto (or telephonic notice confirmed in a writing in the form of Exhibit H EXHIBIT B hereto) of each Revolving Credit Loan requested by such Borrower hereunder (a “"Loan Request”") (a) by noon 11:00 a.m. (Cleveland Boston time) one (1) Business Day prior to on the proposed Drawdown Date with respect to of any Base Rate Loans Loan and two (2b) no less than three (3) Business Days prior to the proposed Drawdown Date of any Eurocurrency Rate Loan; PROVIDED that any such notice requesting an Optional Currency must comply with respect the requirements of this ss.2.6 and the requirements of an OC Notice pursuant to LIBOR Rate Loansss.2.9.1. Each such notice shall specify with respect to (a) the requested principal amount of the Revolving Credit Loan requested, stated either in Dollars, or, subject to ss.2.9, in an Optional Currency; (b) the proposed principal amount Drawdown Date of such Revolving Credit Loan, the Type of Revolving Credit Loan, (c) the initial Interest Period (if applicable) for such Revolving Credit Loan and Loan; (d) the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) and (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer of the Borrower that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making Type of such Revolving Credit Loan; PROVIDED, HOWEVER, that the Foreign Borrowers shall only be permitted to select Eurocurrency Rate Loans; (e) the Borrower's account to which payment of the proceeds of such Revolving Credit Loan is to be made and (f) a representation that each of the representations and warranties set forth in ss.8 hereof shall be deemed to be true at the time of the borrowing (subject to the limitations in ss.13.1 hereof). Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders Banks thereof. Each such Loan Request shall be irrevocable and binding on the such Borrower and shall obligate the such Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders Banks on the proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 5,000,000 or an integral multiple of $100,000.00 1,000,000 in excess thereof; thereof (or (b) the Dollar equivalent if such request is for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 in excess thereof; provided, however, that there shall be no more than five (5) Revolving Credit LIBOR Rate Loans outstanding at any one timeOptional Currency).
Appears in 1 contract
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the Borrower shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H D hereto (or telephonic notice confirmed in writing in the form of Exhibit H D hereto) of each Revolving Credit Loan requested hereunder (a “Loan Request”) by noon 2:00 p.m. (Cleveland time) one (1) Business Day prior to the proposed Drawdown Date with respect to Base Rate Loans and two three (23) Business Days prior to the proposed Drawdown Date with respect to LIBOR Rate Loans. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.97.19) and (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer of the Borrower that the Borrower and the Guarantors are and will be in compliance with all covenants under the Loan Documents Documentsno Default or Event of Default has occurred and is continuing after giving effect to the making of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each such Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $100,000.00 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 in excess thereof; provided, however, that there shall be no more than five (5) Revolving Credit LIBOR Rate Loans outstanding at any one time.
Appears in 1 contract
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the Borrower Borrowers’ Representative shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H G hereto (or telephonic notice confirmed in writing in the form of Exhibit H G hereto) of each Revolving Credit Loan requested hereunder (a “Loan Request”) by noon 11:00 a.m. (Cleveland Atlanta time) one (1) Business Day prior to the proposed Drawdown Date with respect to Revolving Credit Base Rate Loans and two three (23) Business Days prior to the proposed Drawdown Date with respect to Revolving Credit LIBOR Rate Loans. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) and (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer of the Borrower Parent Company that the Borrower Borrowers and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making and use of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each such Loan Request shall be irrevocable and binding on the Borrower Borrowers and shall obligate the Borrower Borrowers to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date. Nothing herein shall prevent the Borrower Borrowers from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $100,000.00 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 in excess thereof; provided, however, that there shall be no more than five (5) Revolving Credit LIBOR Rate Loans outstanding at any one time.
Appears in 1 contract
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the Borrower Borrowers shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H D hereto (or telephonic notice confirmed in writing in the form of Exhibit H D hereto) of each Revolving Credit Loan requested hereunder (a “Loan Request”) by noon 1:00 p.m. (Cleveland Eastern time) one (1) Business Day prior to the proposed Drawdown Date with respect to Revolving Credit Base Rate Loans and two (2) Business Days prior to the proposed Drawdown Date with respect to Revolving Credit LIBOR Rate Loans. , together with an executed Borrowing Base Availability Certificate in the form of Exhibit F. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) and (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer of the Borrower that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each such Loan Request shall be irrevocable and binding on the Borrower Borrowers and shall obligate the Borrower Borrowers to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date. Nothing herein shall prevent the Borrower Borrowers from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $100,000.00 in excess thereof100,000.00; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 in excess thereof500,000.00; provided, however, that there shall be no more than five seven (57) Revolving Credit LIBOR Rate Loans outstanding at any one time.
Appears in 1 contract
Requests for Revolving Credit Loans. Except with respect to the initial any Revolving Credit Loan on Loans outstanding as of the Closing Date, the Borrower shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H C hereto (or telephonic notice confirmed in writing in the form of Exhibit H G hereto) of each Revolving Credit Loan requested hereunder (a “Loan Request”) by noon 12:00 p.m. (Cleveland timeEastern Standard Time) one (1) Business Day prior to the proposed Drawdown Date with respect to Base Rate Loans and two (2) Business Days prior to the proposed Drawdown Date with respect to LIBOR Rate Loans. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) and (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer controller of the Borrower Parent that the Borrower Borrower, the Guarantors and Guarantors each Unencumbered Property Subsidiary are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each such Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 500,000.00 or an integral multiple of $100,000.00 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 500,000.00 or an integral multiple of $250,000.00 100,000.00 in excess thereof; provided, however, that there shall be no more than five seven (57) Revolving Credit LIBOR Rate Loans outstanding at any one time.
Appears in 1 contract
Requests for Revolving Credit Loans. Except with respect to the initial extent a Revolving Credit Loan on is automatically disbursed as a result of an account sweep under the Closing Date, cash management system established by the Borrower with the Administrative Agent, each Revolving Credit Loan shall give to be made upon the Borrower giving the Administrative Agent irrevocable written notice executed by an Authorized Officer in the form of Exhibit H A attached hereto (a “Notice of Borrowing”) (or telephonic notice confirmed in writing a Notice of Borrowing) accompanied by an appropriately completed Borrowing Base Certificate in the form of Exhibit H hereto) of each Revolving Credit Loan requested hereunder B attached hereto (a “Loan RequestBorrowing Base Certificate”) by noon (Cleveland time) one (1) Business Day prior to the proposed Drawdown Date with respect to Base Rate Loans and two (2) Business Days prior to the proposed Drawdown Date with respect to LIBOR Rate Loans. Each such notice shall specify with respect to showing sufficient availability for the requested Revolving Credit Loan Loan, each of the proposed principal amount foregoing signed by a Responsible Officer of Borrower, and such other information as may reasonably be requested by the Administrative Agent to support and verify the calculation of the Revolver Borrowing Base and the Cigarette Buy-In Borrowing Base, as applicable, as set forth on the Borrowing Base Certificate delivered to the Administrative Agent. Delivery of a Borrowing Base Certificate to the Administrative Agent may be made by (i) facsimile transmission provided the original thereof is mailed to the Administrative Agent on the same day of such Revolving Credit Loanfacsimile transmission, (ii) hand delivery, or (iii) electronic transmission to the Type of Revolving Credit Loan, the initial Interest Period (if applicable) electronic address for such sending and receiving communications by electronic means set forth on Schedule 11.13 attached hereto. Each request for a Revolving Credit Loan communicated to the Administrative Agent telephonically shall be followed promptly by confirmation in writing. Each Notice of Borrowing shall constitute the representation and warranty of the Loan Parties to the Administrative Agent and the Drawdown Date. Each Lenders that on the date of such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) request, and (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer of the Borrower that the Borrower before and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making application of the Borrowing requested thereby, (i) all representations and warranties set forth in Article V are true and correct in all material respects as though made on the date of such Revolving Credit Loan. Promptly upon receipt request, and (ii) no Potential Default or Event of any such notice, the Agent Default shall notify each of the Revolving Credit Lenders thereof. Each such Loan Request shall have occurred and be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $100,000.00 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 in excess thereof; provided, however, that there shall be no more than five (5) Revolving Credit LIBOR Rate Loans outstanding at any one timecontinuing.”
Appears in 1 contract
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the The Borrower shall give to the Administrative Agent written notice executed by an Authorized Officer in the form of Exhibit H F hereto (or telephonic notice confirmed in writing in the form of Exhibit H F hereto) of each Revolving Credit Loan requested hereunder (a “Loan RequestBorrowing Notice”) by noon 11:00 a.m. (Cleveland Eastern time) one (1) Business Day prior to the proposed Drawdown Borrowing Date with respect to Base Floating Rate Loans and two three (23) Business Days prior to the proposed Drawdown Borrowing Date with respect to LIBOR Rate Loans. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Borrowing Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) and (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer of the Borrower an Authorized Officer that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents no Default exists after giving effect to the making of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Administrative Agent shall notify each of the Revolving Credit Lenders thereof. Each such Loan Request Borrowing Notice shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Borrowing Date. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request Borrowing Notice shall be (a) except as a result of a Borrowing Notice pursuant to Section 2.7, for a Revolving Credit Base Floating Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $100,000.00 in excess thereofthereof (or in the remaining undrawn amount of the Revolving Credit Commitments, if less); or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 in excess thereof; provided, however, that there shall be no more than five (5) Revolving Credit LIBOR Rate Loans outstanding Outstanding at any one time.
Appears in 1 contract
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the The Borrower shall give to the ----------------------------------- Agent written notice executed by an Authorized Officer in the form of Exhibit H B hereto (or telephonic notice --------- confirmed in a writing in the form of Exhibit H B hereto) of each Revolving Credit --------- Loan requested hereunder (a “"Loan Request”") by noon no less than 1:00 p.m. (Cleveland Boston time) (a) one (1) Business Day prior to the proposed Drawdown Date with respect to of any Base Rate Loans Loan and two (2b) three (3) Eurodollar Business Days prior to the proposed Drawdown Date of any Eurodollar Rate Loan, provided, however, the Borrower shall not -------- ------- request any Eurodollar Rate Loans with respect an Interest Period of more than one month until the date which is the earlier to LIBOR Rate Loansoccur of (i) sixty (60) Business Days following the Closing Date and (ii) the date on which the Revolving Credit Loans hereunder have been syndicated to the satisfaction of the Agent. Each such notice shall specify with respect to (i) the requested principal amount of the Revolving Credit Loan requested, (ii) the proposed principal amount Drawdown Date of such Revolving Credit Loan, (iii) the Type of Interest Period for such Revolving Credit Loan, (iv) the initial Interest Period (if applicable) for Type of such Revolving Credit Loan and (v) whether the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) and (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer of the Borrower that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making proceeds of such Revolving Credit LoanLoan shall be used to finance all or any part of a Permitted Acquisition. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders Banks thereof. Each such Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders Banks on the proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 500,000 or an a larger integral multiple of $100,000.00 in excess thereof; 100,000. In addition, if all or (b) for a any portion of the proceeds of the Revolving Credit LIBOR Rate Loan being requested is being used to finance all or any portion of a Permitted Acquisition, except in the case of a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 in excess thereof; providedNominally Financed Acquisition, however, that there the Borrower shall be no more deliver to the Agent not less than five (5) days prior to the proposed Drawdown Date of such Revolving Credit LIBOR Rate Loans outstanding at Loan a written notification describing the relevant Permitted Financed Acquisition to be consummated, copies of all material documents, agreements and instruments to be entered into by the Borrower in connection with such Permitted Financed Acquisition, and the purchase price for such Permitted Financed Acquisition (which purchase price plus all transaction costs related thereto shall not be less than the amount of the Revolving Credit Loan so requested). Subject to the foregoing, and subject to the satisfaction of the conditions set forth in (S)12, so long as no Default or Event of Default shall have occurred and be continuing, and all of the applicable conditions set forth in this Credit Agreement shall have been met, including, but not limited to the Borrower having taken all action necessary and required pursuant to the terms of this Credit Agreement and the other Loan Documents to perfect the Agent's first priority security interest in the assets being acquired (or, in the event any one timeSubsidiary is formed as a result of or in connection with such acquisition, such Subsidiary shall be a Restricted Subsidiary, and the Loan Documents shall be amended and/or supplemented as necessary to make the terms and conditions of the Loan Documents applicable to such Restricted Subsidiary), and the Agent being satisfied with the terms of the proposed Permitted Financed Acquisition, each Bank shall lend to the Borrower such Bank's Commitment Percentage of the Revolving Credit Loan so requested in immediately available funds not later than the close of business on such Drawdown Date.
Appears in 1 contract
Requests for Revolving Credit Loans. Except with respect to The applicable Borrower (i) shall notify the initial Agent of a potential request for a Commercial Company Revolving Credit Loan on the Closing or a Land Company Revolving Credit Loan as soon as possible prior to such Borrower's proposed Drawdown Date, the Borrower and (ii) shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H hereto C-1 or Exhibit C-2 hereto, as applicable (or telephonic notice confirmed in writing in the form of Exhibit H C-1 or Exhibit C-2 hereto, as applicable) of each Revolving Credit Loan requested hereunder (a “"Loan Request”") by noon no later than 10:00 a.m. three (Cleveland time) one (13) Business Day Days prior to the proposed Drawdown Date with respect to Base Rate Loans and Date. The Agent shall promptly notify each of the Revolving Credit Banks following the receipt of a Loan Request, but in any event not less than two (2) Business Days prior to the proposed Drawdown Date with respect to LIBOR Rate LoansDate. The Borrowers in the aggregate shall not make a Loan Request more frequently than five (5) times each month. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loanamount, the Drawdown Date and Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date). Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) Section 7.11), and (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer Principal Financial Officer of the each Borrower that the Borrower and Guarantors Borrowers are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders Banks thereof. Each Except as provided in this Section 2.6, each such Loan Request shall be irrevocable and binding on the such Borrower and shall obligate the such Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders Banks on the proposed Drawdown Date, provided that, in addition to such Borrower's other remedies against any Revolving Credit Bank which fails to advance its proportionate share of a requested Revolving Credit Loan, such Loan Request may be revoked by such Borrower by notice received by the Agent no later than the Drawdown Date if any Revolving Credit Bank fails to advance its proportionate share of the requested Revolving Credit Loan in accordance with the terms of this Agreement, provided further that such Borrower shall be liable in accordance with the terms of this Agreement to any Revolving Credit Bank which is prepared to advance its proportionate share of the requested Revolving Credit Loan for any costs, expenses or damages incurred by such Revolving Credit Bank as a result of such Borrower's election to revoke such Loan Request. Nothing herein shall prevent the such Borrower from seeking recourse against any Revolving Credit Lender Bank that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. A Borrower may without cost or penalty revoke a Loan Request by delivering notice thereof to each of the Revolving Credit Banks no later than 10:00 a.m. two (2) Business Days prior to the Drawdown Date. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 1,000,000 or an integral multiple of $100,000.00 100,000 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 in excess thereof; provided, however, that there shall be no more than five (5) Revolving Credit LIBOR Rate Loans outstanding at any one time.
Appears in 1 contract
Samples: Master Credit Agreement (Wellsford Real Properties Inc)
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the Borrower shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H E hereto (or telephonic notice confirmed in writing in the form of Exhibit H E hereto) of each Revolving Credit Loan requested hereunder (a “Loan Request”) by noon 11:00 a.m. (Cleveland time) one (1) Business Day prior to the proposed Drawdown Date with respect to Base Rate Loans and two (2) Business Days prior to the proposed Drawdown Date with respect to LIBOR Rate Loans. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (ia) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) and (iib) a certification by the chief executive officer, president, president or chief financial officer or chief accounting officer of the Borrower that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each such Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $100,000.00 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 1,000,000.00 in excess thereof; provided, however, that there shall be no more than five six (56) Revolving Credit LIBOR Rate Loans outstanding at any one time.
Appears in 1 contract
Samples: Senior Secured Revolving Credit Agreement (American Realty Capital Healthcare Trust Inc)
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the The Borrower shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H D hereto (or telephonic notice confirmed in writing in the form of Exhibit H D hereto) of each Revolving Credit Loan requested hereunder (a “Loan Request”) by noon 11:00 a.m. (Cleveland time) one (1) Business Day prior to the proposed Drawdown Date with respect to Base Rate Loans and two three (23) Business Days prior to the proposed Drawdown Date with respect to LIBOR Rate Loans. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (ia) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) ), and (iib) a certification by the chief executive officer, president, president or chief financial officer or chief accounting officer of the Borrower REIT that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each such Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Subject to §2.10(f) below, each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 500,000.00 or an integral multiple of $100,000.00 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 500,000.00 in excess thereof; provided, however, that there shall be no more than five six (56) Revolving Credit LIBOR Rate Loans outstanding at any one time.
Appears in 1 contract
Samples: Credit Agreement (Monogram Residential Trust, Inc.)
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the Borrower shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit EXHIBIT H hereto (or telephonic notice confirmed in writing in the form of Exhibit EXHIBIT H hereto; provided that the Agent and the Lenders may rely on such telephonic notice notwithstanding the lack of or discrepant information contained in a written confirmation) of each Revolving Credit Loan requested hereunder (a “Loan Request”"LOAN REQUEST") by noon 9:00 a.m. (Cleveland Boston time) one (1) Business Day prior to the proposed Drawdown Date with respect to Revolving Credit Base Rate Loans and two three (23) Business Days prior to the proposed Drawdown Date with respect to Revolving Credit LIBOR Rate Loans. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance Advance shall be used (which purpose shall be in accordance with the terms of §2.9) and ss.2.9), (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer of the Borrower that the Borrower and Guarantors the Guarantor are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Credit Loan, and (iii) a current calculation of the Borrowing Base with such supporting information as the Agent may require adjusted in the best good faith estimate of the Borrower to give effect to the proposed Advance. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each Except as provided in this ss.2.7, each such Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date; provided that, in addition to the Borrower's other remedies against any Lender which fails to advance its proportionate share of a requested Revolving Credit Loan, such Loan Request may be revoked by the Borrower by notice received by the Agent no later than the Drawdown Date if any Lender fails to advance its proportionate share of the requested Revolving Credit Loan in accordance with the terms of this Agreement; and provided further that the Borrower shall be liable in accordance with the terms of this Agreement to any Lender which is prepared to advance its proportionate share of the requested Revolving Credit Loan for any costs, expenses or damages actually incurred by such Lender as a result of the Borrower's election to revoke such Loan Request. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Notwithstanding anything to the contrary contained herein, the Borrower may at any time prior to any proposed Drawdown Date, provide written notice to the Agent (the "FULL ADVANCE NOTICE") instructing Agent not to disburse the requested Advance, or any subsequent Advance, until such time as Agent has received from each Lender, its proportionate share of the requested Revolving Credit Loan in good funds, such that the Agent at the time of the disbursement has received 100% of the proportionate amounts due from each Lender with respect to such Advance. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 1,000,000 or an integral multiple of $100,000.00 100,000 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 2,000,000 or an integral multiple of $250,000.00 100,000 in excess thereof; providedPROVIDED, howeverHOWEVER, that there shall be no more than five (5) LIBOR Rate Loans (including Revolving Credit LIBOR Rate Loans Loans) outstanding at any one time.
Appears in 1 contract
Samples: Master Credit Agreement (Entertainment Properties Trust)
Requests for Revolving Credit Loans. Except with respect to the initial any Revolving Credit Loan on Loans outstanding as of the Closing Date, the Borrower shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H C hereto (or telephonic notice confirmed in writing in the form of Exhibit H G hereto) of each Revolving Credit Loan requested hereunder (a “Loan Request”) by noon 12:00 p.m. (Cleveland timeEastern Standard Time) one (1) Business Day prior to the proposed Drawdown Date with respect to Base Rate Loans and two (2) Business Days prior to the proposed Drawdown Date with respect to LIBOR Rate Loans. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) and (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer controller of the Borrower Parent that the Borrower Borrower, the Guarantors and Guarantors each Unencumbered Property Subsidiary are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each such Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 500,000.00 or an integral multiple of $100,000.00 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 500,000.00 or an integral multiple of $250,000.00 100,000.00 in excess thereof; provided, however, that there shall be no more than five ten (510) Revolving Credit LIBOR Rate Loans outstanding at any one time.. §2.8
Appears in 1 contract
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the Borrower shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H EG hereto (or telephonic notice confirmed in writing in the form of Exhibit H EG hereto) of each Revolving Credit Loan requested hereunder (a “Loan Request”) by noon 11:00 a.m. (Cleveland time) one (1) Business Day prior to the proposed Drawdown Date with respect to Revolving Credit Base Rate Loans and two three (23) Business Days prior to the proposed Drawdown Date with respect to Revolving Credit LIBOR Rate Loans. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.92.92.8) and (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer of the Borrower that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each such Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $100,000.00 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 in excess thereof; provided, however, that there shall be no more than five six (56) Revolving Credit LIBOR Rate Loans outstanding at any one time.
Appears in 1 contract
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the Any Borrower shall give to the Agent Agent, and in the event such Borrower is a Foreign Borrower requesting an Optional Currency, to the Nassau Branch with a copy to the Agent, written notice executed by an Authorized Officer in the form of Exhibit H B hereto (or telephonic notice confirmed in a writing in the form of Exhibit H B hereto) of each Revolving Credit Loan requested by such Borrower hereunder (a “"Loan Request”") (a) by noon 11:00 a.m. (Cleveland Boston time) one (1) Business Day prior to on the proposed Drawdown Date with respect to of any Base Rate Loans Loan and two (2b) no less than three (3) Business Days prior to the proposed Drawdown Date of any Eurocurrency Rate Loan; provided that any such notice requesting an Optional Currency must comply with respect the requirements of this Section 2.6 and the requirements of an OC Notice pursuant to LIBOR Rate LoansSection 2.9.1. Each such notice shall specify with respect to (a) the requested principal amount of the Revolving Credit Loan requested, stated either in Dollars, or, subject to Section 2.9, in an Optional Currency; (b) the proposed principal amount Drawdown Date of such Revolving Credit Loan, the Type of Revolving Credit Loan, (c) the initial Interest Period (if applicable) for such Revolving Credit Loan and Loan; (d) the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) and (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer of the Borrower that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making Type of such Revolving Credit Loan; provided, however, that the Foreign Borrowers shall only be permitted to select Eurocurrency Rate Loans; (e) the Borrower's account to which payment of the proceeds of such Revolving Credit Loan is to be made and (f) a representation that each of the representations and warranties set forth in Section 8 hereof shall be deemed to be true at the time of the borrowing (subject to the limitations in Section 13.1 hereof). Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders Banks thereof. Each such Loan Request shall be irrevocable and binding on the such Borrower and shall obligate the such Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders Banks on the proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 5,000,000 or an integral multiple of $100,000.00 1,000,000 in excess thereof; thereof (or (b) the Dollar equivalent if such request is for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 in excess thereof; provided, however, that there shall be no more than five (5) Revolving Credit LIBOR Rate Loans outstanding at any one timeOptional Currency).
Appears in 1 contract
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the The Borrower shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H B hereto (or telephonic notice confirmed in a writing in the form of Exhibit H B hereto) of each Revolving Credit Loan requested hereunder (a “Loan Request”"REVOLVING CREDIT LOAN REQUEST") by noon (Cleveland timea) no less than one (1) Business Day prior to the proposed Drawdown Date with respect to of any Revolving Credit Loan which is a Revolving Credit Base Rate Loans Loan and two (2b) no less than three (3) LIBOR Business Days prior to the proposed Drawdown Date with respect to of any Revolving Credit Loan which is a Revolving Credit LIBOR Rate LoansLoan. Each such notice shall specify with respect to (i) the requested principal amount of the Revolving Credit Loan requested, (ii) the proposed principal amount Drawdown Date of such Revolving Credit Loan, (iii) the Type of Interest Period for such Revolving Credit Loan, (iv) the initial Interest Period (if applicable) for Type of such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (iv) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) and (ii) a certification by the chief executive officer, president, chief financial officer whether or chief accounting officer of the Borrower that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of not such Revolving Credit Loan is an Acquisition Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders Banks thereof. Each such Revolving Credit Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders Banks on the proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Each Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of (1) $1,000,000.00 1,000,000 or an integral multiple of $100,000.00 in excess thereof; or (b) thereof for a any Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of and (2) $1,000,000.00 100,000 or an integral multiple of $250,000.00 in excess thereof; provided, however, that there shall be no more than five (5) thereof for any Revolving Credit LIBOR Base Rate Loans outstanding at any one timeLoan. Each request for an Acquisition Credit Loan hereunder shall constitute a representation and warranty by the Borrower that the conditions set forth in Section 12 and Section 12A have been satisfied on the date of such request. Each request for a Revolving Credit Loan (other than an Acquisition Loan) shall constitute a representation and warranty by the Borrower that the conditions set forth in Section 11 and Section 12A have been satisfied on the date of such request.
Appears in 1 contract
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, if any, the Borrower shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H E hereto (or telephonic notice confirmed in writing in the form of Exhibit H E hereto) of each Revolving Credit Loan requested hereunder (a “Loan Request”) by noon 11:00 a.m. (Cleveland time) one (1) Business Day prior to the proposed Drawdown Date with respect to Revolving Credit Base Rate Loans and two (2) Business Days prior to the proposed Drawdown Date with respect to Revolving Credit LIBOR Rate Loans. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (ia) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) and (iib) a certification by the chief executive officer, president, president or chief financial officer or chief accounting officer of the Borrower that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each such Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (ax) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $100,000.00 in excess thereof; or (by) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 1,000,000.00 in excess thereof; provided, however, that there shall be no more than five eight (5) Revolving Credit 8) LIBOR Rate Loans outstanding at any one time.
Appears in 1 contract
Samples: Senior Secured Credit Agreement (Healthcare Trust, Inc.)
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the Borrower Borrowers shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H D hereto (or telephonic notice confirmed in writing in the form of Exhibit H D hereto) of each Revolving Credit Loan requested hereunder (a “Loan Request”) by noon 1:00 p.m. (Cleveland Eastern time) one (1) Business Day prior to the proposed Drawdown Date with respect to Revolving Credit Base Rate Loans and two (2) Business Days prior to the proposed Drawdown Date with respect to Revolving Credit LIBOR Rate Loans. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount (denominated in either Dollars or in an Alternative Currency) of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) and (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer of the Borrower that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each such Loan Request shall be irrevocable and binding on the Borrower Borrowers and shall obligate the Borrower Borrowers to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date. Nothing herein shall prevent the Borrower Borrowers from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate Dollar Equivalent amount of $1,000,000.00 1,000,000 or an integral multiple of $100,000.00 100,000 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate Dollar Equivalent amount of $1,000,000.00 1,000,000 or an integral multiple of $250,000.00 250,000 in excess thereof; provided, however, that there shall be no more than five ten (510) Revolving Credit LIBOR Rate Loans outstanding at any one time.
Appears in 1 contract
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the The Borrower shall give to the ----------------------------------- Agent written notice executed by an Authorized Officer in the form of Exhibit H C hereto (or telephonic notice ------- - confirmed in a writing in the form of Exhibit H C hereto) of each Revolving Credit ------- - Loan requested hereunder (a “"Loan Request”") by noon no less than (Cleveland timea) one (1) Business Day prior to the proposed Drawdown Date with respect to of any Base Rate Loans Loan and two (2b) three (3) Eurodollar Business Days prior to the proposed Drawdown Date of any Eurodollar Rate Loan; provided, however, the Borrower shall not request any Eurodollar Rate -------- ------- Loans with respect an Interest Period of more than one month until the date on which the Agent notifies the Borrower that the Loans hereunder have been syndicated to LIBOR Rate Loansthe satisfaction of the Agent, and all Interest Periods during such period shall end on the same date. The term "syndicated to the satisfaction of the Agent" as used in this (S)2.6 means a syndication satisfactory to the Agent and FRS and after which Fleet's Commitment plus its portion of the Term Loan does not exceed ---- $20,000,000. Each such notice such notice shall specify with respect to (i) the requested principal amount of the Revolving Credit Loan requested, (ii) the proposed principal amount Drawdown Date of such Revolving Credit Loan, (iii) the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and (iv) the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) and (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer of the Borrower that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making Type of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders Banks thereof. Each such Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders Banks on the proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 500,000 or an integral multiple of $100,000.00 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 in excess thereof; provided, however, that there shall be no more than five (5) Revolving Credit LIBOR Rate Loans outstanding at any one time.
Appears in 1 contract
Samples: Revolving Credit and Term Loan Agreement (Mapics Inc)
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the The Borrower shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H D hereto (or telephonic notice confirmed in writing in the form of Exhibit H D hereto) of each Revolving Credit Loan requested hereunder (a “Loan Request”) by noon 1:00 p.m. (Cleveland Eastern time) one (1) Business Day prior to the proposed Drawdown Date with respect to Revolving Credit Base Rate Loans and two (2) Business Days prior to the proposed Drawdown Date with respect to Revolving Credit LIBOR Rate Loans. , together with an executed Borrowing Base Availability Certificate in the form of Exhibit F. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) and (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer of the Borrower that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each such Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $100,000.00 in excess thereof100,000; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 in excess thereof500,000; provided, however, that there shall be no more than five four (54) Revolving Credit LIBOR Rate Loans outstanding at any one time.
Appears in 1 contract
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, if any, the Borrower shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H E hereto (or telephonic notice confirmed in writing in the form of Exhibit H E hereto) of each Revolving Credit Loan requested hereunder (a “Loan Request”) by noon 11:00 a.m. (Cleveland time) one (1) Business Day prior to the proposed Drawdown Date with respect to Revolving Credit Base Rate Loans and two (2) Business Days prior to the proposed Drawdown Date with respect to LIBOR SOFR Rate Revolving Credit Loans. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (ia) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) and (iib) a certification by the chief executive officer, president, president or chief financial officer or chief accounting officer of the Borrower that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each such Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate in the Minimum Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $100,000.00 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 in excess thereofAmounts; provided, however, that there shall be no more than five eight (5) Revolving Credit LIBOR 8) SOFR Rate Loans outstanding at any one time.
Appears in 1 contract
Samples: Senior Secured Credit Agreement (Healthcare Trust, Inc.)
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the Borrower shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H F hereto (or telephonic notice confirmed in writing in the form of Exhibit H F hereto) of each Revolving Credit Loan requested hereunder (a “Revolving Credit Loan Request”) by noon 11:00 a.m. (Cleveland time) one (1) Business Day prior to the proposed Drawdown Date with respect to Revolving Credit Base Rate Loans and two three (23) Business Days prior to the proposed Drawdown Date with respect to Revolving Credit LIBOR Rate Loans. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) and (ii) a certification by the chief executive financial officer, president, chief financial officer or chief accounting officer or accounting officer reasonably approved by Agent of the Borrower (or of REIT) that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making and use of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each such Revolving Credit Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Revolving Credit Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $100,000.00 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 1,000,000.00 in excess thereof; provided, however, that there shall be no more than five eight (5) Revolving Credit 8) LIBOR Rate Loans (whether Term Loan, Revolving Credit Loan or Bid Loan) outstanding at any one timetime unless all of the Lenders agree to allow additional LIBOR Rate Loans.
Appears in 1 contract
Samples: Credit Agreement (CyrusOne Inc.)
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the Borrower shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H D hereto (or telephonic notice confirmed in writing in the form of Exhibit H D hereto) of each Revolving Credit Loan requested hereunder (a “Loan Request”) by noon 11:00 a.m. (Cleveland time) one (1) Business Day prior to the proposed Drawdown Date with respect to Base Rate Loans and two three (23) Business Days prior to the proposed Drawdown Date with respect to LIBOR Rate Loans. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.92.8) and (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer of the Borrower an Authorized Officer that the Borrower and Guarantors Guarantors, if any, are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each such Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $100,000.00 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 500,000.00 in excess thereof; provided, however, that there shall be no more than five ten (510) Revolving Credit different Interest Periods for LIBOR Rate Loans outstanding at any one time.
Appears in 1 contract
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, if any, the Borrower shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H E hereto (or telephonic notice confirmed in writing in the form of Exhibit H E hereto) of each Revolving Credit Loan requested hereunder (a “Loan Request”) by noon 11:00 a.m. (Cleveland time) one (1) Business Day prior to the proposed Drawdown Date with respect to Revolving Credit Base Rate Loans Loans, and two three (23) Business Days prior to the proposed Drawdown Date with respect to Revolving Credit LIBOR Rate Loans. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit LoanLoan (provided that all Alternative Currency Loans shall be LIBOR Loans), the Currency in which such Loan is to be made, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (ia) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) and (iib) a certification by the chief executive officer, president, president or chief financial officer or chief accounting officer of the Borrower that the Borrower and Guarantors (including any Unencumbered Property Subsidiary) are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each such Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (ax) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $100,000.00 in excess thereof; or (by) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 1,000,000.00 in excess thereof; provided, however, that there shall be no more than five eight (5) Revolving Credit 8) LIBOR Rate Loans outstanding at any one time. Any consent given by a Lender to the Agent to fund in a particular Alternative Currency shall be binding on such Lender and the Agent may conclusively assume the effectiveness thereof absent receipt of notice to the contrary from any such Lender. If Borrower fails to specify a Currency in a Loan Request requesting a Revolving Credit Loan, then the requested Revolving Credit Loan shall be made in Dollars.
Appears in 1 contract
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, if any, the Borrower shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H E hereto (or telephonic notice confirmed in writing in the form of Exhibit H E hereto) of each Revolving Credit Loan requested hereunder (a “Loan Request”) by noon 11:00 a.m. (Cleveland time) one (1) Business Day prior to the proposed Drawdown Date with respect to Base Rate Loans Loans, and two three (23) Business Days prior to the proposed Drawdown Date with respect to LIBOR Rate Loans. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit LoanLoan (provided that all Alternative Currency Loans shall be LIBOR Loans), the Currency in which such Loan is to be made, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (ia) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) and (iib) a certification by the chief executive officer, president, president or chief financial officer or chief accounting officer of the Borrower that the Borrower and Guarantors (including any Unencumbered Property Subsidiary) are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each such Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Loan Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (ax) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $100,000.00 in excess thereof; or (by) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 1,000,000.00 in excess thereof; provided, however, that there shall be no more than five eight (5) Revolving Credit 8) LIBOR Rate Loans outstanding at any one time. Any consent given by a Lender to the Agent to fund in a particular Alternative Currency shall be binding on such Lender and the Agent may conclusively assume the effectiveness thereof absent receipt of notice to the contrary from any such Lender. If Borrower fails to specify a Currency in a Loan Request requesting a Revolving Credit Loan, then the requested Revolving Credit Loan shall be made in Dollars.
Appears in 1 contract
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the The Borrower shall give to the ----------------------------------- Agent written notice executed by an Authorized Officer in the form of Exhibit H C hereto (or telephonic notice ------- - confirmed in a writing in the form of Exhibit H C hereto) of each Revolving Credit ------- - Loan requested hereunder (a “"Loan Request”") by noon no less than (Cleveland timea) one (1) Business Day prior to the proposed Drawdown Date with respect to of any Base Rate Loans Loan and two (2b) three (3) Eurodollar Business Days prior to the proposed Drawdown Date of any Eurodollar Rate Loan; provided, however, the Borrower shall not request any Eurodollar Rate -------- ------- Loans with respect an Interest Period of more than one month until the date on which the Agent notifies the Borrower that the Loans hereunder have been syndicated to LIBOR Rate Loansthe satisfaction of the Agent, and all Interest Periods during such period shall end on the same date. The term "syndicated to the satisfaction of the Agent" as used in this (S)2.6 means a syndication satisfactory to the Agent and FRS and after which Fleet's Commitment plus its portion of the Term Loan does not exceed ---- $20,000,000. Each such notice shall specify with respect to (i) the requested principal amount of the Revolving Credit Loan requested, (ii) the proposed principal amount Drawdown Date of such Revolving Credit Loan, (iii) the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and (iv) the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) and (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer of the Borrower that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making Type of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders Banks thereof. Each such Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders Banks on the proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 500,000 or an integral multiple of $100,000.00 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 in excess thereof; provided, however, that there shall be no more than five (5) Revolving Credit LIBOR Rate Loans outstanding at any one time.
Appears in 1 contract
Samples: Revolving Credit and Term Loan Agreement (Mapics Inc)
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the Borrower shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H D hereto (or telephonic notice confirmed in writing in the form of Exhibit H D hereto) of each Revolving Credit Loan requested hereunder (a “Loan Request”) by noon 11:00 a.m. (Cleveland time) one (1) Business Day prior to the proposed Drawdown Date with respect to Base Rate Loans and two three (23) Business Days prior to the proposed Drawdown Date with respect to LIBOR Rate Loans. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) and (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer of the Borrower an Authorized Officer that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each such Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $100,000.00 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 500,000.00 in excess thereof; provided, however, that there shall be no more than five six (56) Revolving Credit different Interest Periods for LIBOR Rate Loans outstanding at any one time.
Appears in 1 contract
Samples: Credit Agreement (Mid America Apartment Communities Inc)
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the The Borrower shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H D hereto (or telephonic notice confirmed in writing in the form of Exhibit H D hereto) of each Revolving Credit Loan requested hereunder (a “Loan Request”) by noon 11:00 a.m. (Cleveland time) one (1) Business Day prior to the proposed Drawdown Date with respect to Base Rate Loans and two three (23) Business Days prior to the proposed Drawdown Date with respect to LIBOR Rate Loans. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (ia) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) ), and (iib) a certification by the chief executive officer, president, president or chief financial officer or chief accounting officer of the Borrower REIT that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making malting of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each such Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $100,000.00 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 in excess thereof; or (b) for a LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $1,000,000.00 in excess thereof; provided, however, that there shall be no more than five (5) Revolving Credit LIBOR Rate Loans outstanding at any one time.
Appears in 1 contract
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the Borrower shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H hereto (or telephonic notice confirmed in writing in the form of Exhibit H hereto) of each Revolving Credit Loan requested hereunder (a “"Loan Request”") by noon 9:00 a.m. (Cleveland Boston time) one (1) on the Business Day prior to of the proposed Drawdown Date with respect to Revolving Credit Base Rate Loans and two three (23) Business Days prior to the proposed Drawdown Date with respect to Revolving Credit LIBOR Rate Loans. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) and (S)2.9), (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer of the Borrower that the Borrower and the Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Credit Loan, and (iii) a current calculation of the Borrowing Base with such supporting information as the Agent may require adjusted in the best good faith estimate of the Borrower to give effect to the proposed advance. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each Except as provided in this (S)2.7, each such Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date; provided that, in addition to the Borrower's other remedies against any Revolving Credit Lender which fails to advance its proportionate share of a requested Revolving Credit Loan, such Loan Request may be revoked by the Borrower by notice received by the Agent no later than the Drawdown Date if any Revolving Credit Lender fails to advance its proportionate share of the requested Revolving Credit Loan in accordance with the terms of this Agreement; and provided further that the Borrower shall be liable in accordance with the terms of this Agreement to any Revolving Credit Lender which is prepared to advance its proportionate share of the requested Revolving Credit Loan for any costs, expenses or damages actually incurred by such Revolving Credit Lender as a result of the Borrower's election to revoke such Loan Request. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 1,000,000 or an integral multiple of $100,000.00 100,000 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 2,000,000 or an integral multiple of $250,000.00 100,000 in excess thereof; provided, however, that there shall be no more than five eight (5) 8) LIBOR Rate Loans (including Revolving Credit LIBOR Rate Loans and Term LIBOR Rate Loans) outstanding at any one time.
Appears in 1 contract
Requests for Revolving Credit Loans. Except with respect to The Borrower (i) shall notify the initial Agent of a potential request for a Revolving Credit Loan on as soon as possible prior to the Closing Borrower's proposed Drawdown Date, the Borrower and (ii) shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H E hereto (or telephonic notice confirmed in writing in the form of Exhibit H E hereto) of each Revolving Credit Loan requested hereunder (a “"Loan Request”") by noon no later than 11:00 a.m. (Cleveland time) three (3) Business Days prior to the proposed Drawdown Date if such Loan is to be a Revolving Credit LIBOR Rate Loan or no later than 2:00 p.m. (Cleveland time) one (1) Business Day prior to the proposed Drawdown Date with respect if such Loan is to be a Revolving Credit Base Rate Loans and two (2) Business Days prior to the proposed Drawdown Date with respect to LIBOR Rate LoansLoan. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loanamount, the Type of Revolving Credit LoanDrawdown Date, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown DateType. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be or has been used (which purpose shall be in accordance with the terms of §2.9) Section 7.11), and (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer of the general partner of the Borrower and the chief executive officer, chief financial or chief accounting officer of the Trust that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders Banks thereof. Each Except as provided in this Section 2.5, each such Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders Banks on the proposed Drawdown Date, provided that, in addition to the Borrower's other remedies against any Revolving Credit Bank which fails to advance its proportionate share of a requested Revolving Credit Loan, such Loan Request may be revoked by the Borrower by notice received by the Agent no later than the Drawdown Date if any Revolving Credit Bank fails to advance its proportionate share of the requested Revolving Credit Loan in accordance with the terms of this Agreement, provided further, that the Borrower shall be liable in accordance with the terms of this Agreement to any Revolving Credit Bank which is prepared to advance its proportionate share of the requested Revolving Credit Loan for any costs, expenses or damages actually incurred by such Revolving Credit Bank as a result of the Borrower's election to revoke such Loan Request. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender Bank that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. The Borrower may without cost or penalty revoke a Loan Request by delivering notice thereof to each of the Revolving Credit Banks no later than three (3) Business Days prior to the Drawdown Date. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a the minimum aggregate amount of $1,000,000.00 500,000 or an integral multiple of $100,000.00 100,000 in excess thereof; , or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 500,000.00 or an integral multiple of $250,000.00 100,000 in excess thereof; provided, however, that there shall be no more than five twelve (512) Revolving Credit LIBOR Rate Loans outstanding at any one time.
Appears in 1 contract
Samples: Master Loan Agreement (Ramco Gershenson Properties Trust)
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the Borrower shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H E hereto (or telephonic notice confirmed in writing in the form of Exhibit H E hereto) of each Revolving Credit Loan requested hereunder (a “Loan Request”) by noon 11:00 a.m. (Cleveland time) one (1) Business Day prior to the proposed Drawdown Date with respect to Base Rate Loans and two (2) Business Days prior to the proposed Drawdown Date with respect to LIBOR Rate Loans. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (ia) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) and (iib) a certification by the chief executive officer, president, president or chief financial officer or chief accounting officer of the Borrower that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each such Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Loan Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $100,000.00 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 1,000,000.00 in excess thereof; provided, however, that there shall be no more than five six (56) Revolving Credit LIBOR Rate Loans outstanding at any one time.
Appears in 1 contract
Samples: Senior Unsecured Credit Agreement (American Realty Capital Healthcare Trust Inc)
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the The Borrower shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H D hereto (or telephonic notice confirmed in writing in the form of Exhibit H D hereto) of each Revolving Credit Loan requested hereunder (a “Loan RequestRequest Notice”) by 12:00 noon (Cleveland time) one (1) Business Day prior to on the date of the proposed Drawdown Date with respect to Base Rate Loans and two three (23) Business Days prior to the proposed Drawdown Date with respect to LIBOR Rate Loans. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.92.8) and (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer of the Borrower an Authorized Officer that the Borrower and Guarantors Guarantors, if any, are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each such Loan Request Notice shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request Notice shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $100,000.00 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 500,000.00 in excess thereof; provided, however, that there shall be no more than five ten (510) Revolving Credit different Interest Periods for LIBOR Rate Loans outstanding at any one time.
Appears in 1 contract
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the (a) The Borrower shall give to the Facility Agent written notice executed by an Authorized Officer in the form of Exhibit H EXHIBIT C hereto (or telephonic notice confirmed in a writing in the form of Exhibit H EXHIBIT C hereto) of each Revolving Credit Loan requested hereunder (a “Loan Request”"LOAN REQUEST") by noon no less than (Cleveland timei) one (1) Business Day prior to the proposed Drawdown Date with respect to of any Base Rate Loans Loan and two (2ii) three (3) Eurodollar Business Days prior to the proposed Drawdown Date with respect to LIBOR of any Eurodollar Rate LoansLoan. Each such notice shall specify with respect to (A) the requested principal amount of the Revolving Credit Loan requested, (B) the proposed principal amount Drawdown Date of such Revolving Credit Loan, (C) the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and (D) the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) and (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer of the Borrower that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making Type of such Revolving Credit Loan. Notwithstanding the foregoing, the Facility Agent may (in its sole and absolute discretion) make Base Rate Loans available to the Borrower on the same Business Day as such Loans are requested. The Lenders hereby agree to comply with the provisions hereof, including, without limitation, the provisions of ss.2.8 hereof, with respect to any such Loan. Promptly upon receipt of any such notice, the Facility Agent shall notify each of the Revolving Credit Lenders thereof. Each such Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for with respect to a Revolving Credit Base Rate Loan shall be in the minimum aggregate amount of $500,000 or a larger integral multiple thereof and each Loan Request with respect to a Eurodollar Rate Loan shall be in a minimum aggregate amount of $1,000,000.00 500,000 or an integral multiple of $100,000.00 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 in excess thereof; provided, however, that there shall be no more than five (5) Revolving Credit LIBOR Rate Loans outstanding at any one time.
Appears in 1 contract
Samples: Revolving Credit Agreement (Sassco Fashions LTD /De/)
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the Borrower shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H D hereto (or telephonic notice confirmed in writing in the form of Exhibit H D hereto) of each Revolving Credit Loan requested hereunder (a “Loan Request”) by noon 11:00 a.m. (Cleveland time) one (1) Business Day prior to the proposed Drawdown Date with respect to Base Rate Loans and two three (23) Business Days prior to the proposed Drawdown Date with respect to LIBOR Rate Loans. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) and (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer of the Borrower an Authorized Officer that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each such Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $100,000.00 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 500,000.00 in excess thereof; provided, however, that there shall be no more than five six (56) Revolving Credit LIBOR Rate Loans outstanding at any one time.
Appears in 1 contract
Samples: Credit Agreement (Mid America Apartment Communities Inc)
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the The Borrower shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H D hereto (or telephonic notice confirmed in writing in the form of Exhibit H D hereto) of each Revolving Credit Loan requested hereunder (a “Loan Request”) by noon 11:00 a.m. (Cleveland time) one (1) Business Day prior to the proposed Drawdown Date with respect to Base Rate Loans and two three (23) Business Days prior to the proposed Drawdown Date with respect to LIBOR Rate Loans. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date, the Drawdown Date, the intended use of the funds (which shall be permitted by this Agreement) and a reconciliation to the Approved Budget through the date of the requested advance, for the balance of the calendar year and for the next four (4) calendar quarters (which as for the next four (4) calendar quarters may in part be based upon the Management Projections). Each such notice In the event that a Liquidity Trigger Event has occurred, Borrower shall also contain deliver as part of the Loan Request (ia) a general statement as to the purpose specific items for which such advance shall be used is requested and the amount thereof, (which purpose shall be b) an identification of where such requested items fit within the waterfall set forth in accordance with the terms of §2.9) 7.23(d), and (iic) a certification by the chief executive officer, president, chief financial officer or chief accounting officer of the Borrower that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect evidence satisfactory to the making Agent that all other items of higher priority set forth in the waterfall in §7.23(d) have been paid for the month to which such Revolving Credit Loanrequested advance relates. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each such Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $100,000.00 250,000.00 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 in excess thereof; provided, however, that there shall be no more than five six (56) Revolving Credit LIBOR Rate Loans outstanding at any one time.
Appears in 1 contract
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the Borrower The Borrowers shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H B hereto (or telephonic notice confirmed in a writing in the form of Exhibit H B hereto) of each Revolving Credit Loan requested hereunder (a “"Loan Request”") by noon no later than 11:00 a.m. (Cleveland Boston time) at least (a) one (1) Business Day prior to the proposed Drawdown Date with respect to of any Base Rate Loans Loan and two (2b) three (3) Eurodollar Business Days prior to the proposed Drawdown Date of any Eurodollar Rate Loan; provided that in the event that an overdraft occurs with respect to LIBOR any account any Borrower maintains with either of the Banks, the Borrowers may request a Base Rate Loans. Each Loan in an amount necessary to cover such overdraft by notice shall specify with respect to the requested Revolving Credit Loan Agent not later than 10:00 a.m. (Boston time) on the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain specify (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with principal amount of the terms of §2.9) and Revolving Credit Loan requested, (ii) the proposed Drawdown Date of such Revolving Credit Loan, (iii) if a certification by Eurodollar Rate Loan, the chief executive officer, president, chief financial officer or chief accounting officer of Interest Period for such Revolving Credit Loan and (iv) the Borrower that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making Type of such Revolving Credit Loan. Promptly upon receipt By delivery of any such noticeLoan Request, the Agent Borrowers shall notify each be deemed to have represented and warranted to the Banks that the conditions precedent set forth in [section]10.1 are satisfied as of the Revolving Credit Lenders thereofdate of such Loan Request and the then requested Drawdown Date. Any Loan Request delivered by any Borrower shall be deemed to have been delivered by, and shall bind, all the Borrowers. Each such Loan Request shall be irrevocable and binding on the Borrower Borrowers and shall obligate the Borrower Borrowers to accept the Revolving Credit Loan requested from the Revolving Credit Lenders Banks on the proposed Drawdown Date. Nothing herein shall prevent ; provided that (x) if the Borrower from seeking recourse against any Revolving Credit Lender Loan requested is a Base Rate Loan and (y) the Borrowers specify in such Loan Request that fails to advance its proportionate share the Borrowers will not accept the Revolving Credit Loan then requested on the proposed Drawdown Date unless the Agent receives the amount of a each Bank's Commitment Percentage of the requested Revolving Credit Loan as required by this Agreementfrom each such Bank, severally, prior to the time on which such Revolving Credit Loan is to be advanced, then the Borrowers shall have no obligation to accept such Revolving Credit Loan on the proposed Drawdown Date, and the Agent shall have no obligation to make such Revolving Credit Loan available to the Borrowers on the proposed Drawdown Date, unless prior to the time on which such Revolving Credit Loan is to be advanced the Agent shall have received from each such Bank, severally, the amount of such Bank's Commitment Percentage of the then requested Revolving Credit Loan. Each Loan Request shall be in respect of (aA) for a Revolving Credit any Base Rate Loan shall be in a minimum aggregate borrowing amount of $1,000,000.00 50,000 and (B) any Eurodollar Rate Loan shall be in a minimum amount of $500,000 or an integral multiple of $100,000.00 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 100,000 in excess thereof; provided, however, that there shall be no more than five (5) Revolving Credit LIBOR the number of Eurodollar Rate Loans outstanding at any one timetime shall not exceed five (5).
Appears in 1 contract
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the The Borrower shall give to the ----------------------------------- Agent written notice executed by an Authorized Officer in the form of Exhibit H C hereto (or telephonic notice ------- - confirmed in a writing in the form of Exhibit H C hereto) of each Revolving Credit ------- - Loan requested hereunder (a “"Loan Request”") by noon no less than (Cleveland timea) one (1) Business Day prior to the proposed Drawdown Date with respect to of any Base Rate Loans Loan and two (2b) three (3) Eurodollar Business Days prior to the proposed Drawdown Date of any Eurodollar Rate Loan; provided, however, the Borrower shall not request any Eurodollar -------- ------- Rate Loans with respect an Interest Period of more than one month until the date on which the Agent notifies the Borrower that the Loans hereunder have been syndicated to LIBOR Rate Loansthe satisfaction of the Agent, and all Interest Periods during such period shall end on the same date. The term "syndicated to the satisfaction of the Agent" as used in this (S)2.6 means a syndication satisfactory to the Agent and FRS and after which BKB's Commitment plus its portion of the Term Loan ---- does not exceed $20,000,000. Each such notice shall specify with respect to (i) the requested principal amount of the Revolving Credit Loan requested, (ii) the proposed principal amount Drawdown Date of such Revolving Credit Loan, (iii) the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and (iv) the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) and (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer of the Borrower that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making Type of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders Banks thereof. Each such Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders Banks on the proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 500,000 or an integral multiple of $100,000.00 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 in excess thereof; provided, however, that there shall be no more than five (5) Revolving Credit LIBOR Rate Loans outstanding at any one time.
Appears in 1 contract
Samples: Revolving Credit and Term Loan Agreement (Mapics Inc)
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, if any, the Borrower shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H D hereto (or telephonic notice confirmed in writing in the form of Exhibit H D hereto) of each Revolving Credit Loan requested hereunder (a “Loan Request”) by noon 11:00 a.m. (Cleveland time) one (1) Business Day prior to the proposed Drawdown Date with respect to Revolving Credit Base Rate Loans and two three (23) Business Days prior to the proposed Drawdown Date with respect to LIBOR SOFR Rate Loans. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (ia) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) ), and (iib) a certification by the chief executive officer, president, president or chief financial officer or chief accounting officer of the Borrower REIT that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each such Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate in the Minimum Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $100,000.00 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 in excess thereofAmounts; provided, however, that there shall be no more than five ten (510) Revolving Credit LIBOR SOFR Rate Loans outstanding at any one time.
Appears in 1 contract
Samples: Credit Agreement (GTJ Reit, Inc.)
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the The Borrower shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H D hereto (or telephonic notice confirmed in writing in the form of Exhibit H D hereto) of each Revolving Credit Loan requested hereunder (a “Loan Request”) by noon 11:00 a.m. (Cleveland time) one (1) Business Day prior to the proposed Drawdown Date with respect to Base Rate Loans and two three (23) Business Days prior to the proposed Drawdown Date with respect to LIBOR Rate Loans. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (ia) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) ), and (iib) a certification by the chief executive officer, president, president or chief financial officer or chief accounting officer of the Borrower REIT that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each such Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $100,000.00 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 in excess thereof; or (b) for a LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $1,000,000.00 in excess thereof; provided, however, that there shall be no more than five ten (510) Revolving Credit LIBOR Rate Loans outstanding at any one time.
Appears in 1 contract
Samples: Credit Agreement (GTJ REIT, Inc.)
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the The Borrower shall give to the ------------------------------------ Agent written notice executed by an Authorized Officer in the form of Exhibit H C hereto (or telephonic notice confirmed in a writing in the form of Exhibit H C hereto) of each Revolving Credit Loan requested hereunder (a “"Loan Request”") by noon prior to (Cleveland i) 1:00 p.m. (Boston, Massachusetts time) one (1) Business Day prior to on the proposed Drawdown Date with respect to of any Base Rate Loans Loan and two (2ii) no less than four (4) Eurodollar Business Days prior to the proposed Drawdown Date with respect to LIBOR of any Eurodollar Rate LoansLoan. Each such notice shall specify with respect to (A) the requested principal amount of the Revolving Credit Loan requested, (B) the proposed principal amount Drawdown Date of such Revolving Credit Loan, (C) the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and (D) the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) and (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer of the Borrower that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making Type of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders Banks thereof. Each such Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders Banks on the proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be accompanied by a notice setting forth the borrowing availability of the Borrower taking into account the most recent Borrowing Base Report delivered to the Agent pursuant to ss.8.4(f) hereof and reflecting (ai) usage of the credit facilities hereunder since the date of such Borrowing Base Report and (ii) drawdown and repayments of the Revolving Credit Loans. Each Loan Request for a Revolving Credit Base Eurodollar Rate Loan shall be in a minimum aggregate amount of $1,000,000.00 1,000,000 or an integral multiple of $100,000.00 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 in excess thereof; provided, however, that there shall be no more than five (5) Revolving Credit LIBOR Rate Loans outstanding at any one time.
Appears in 1 contract
Samples: Revolving Credit Agreement (Fairfield Communities Inc)
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the Borrower shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H E hereto (or telephonic notice confirmed in writing in the form of Exhibit H E hereto) of each Revolving Credit Loan requested hereunder (a “Loan Request”) by noon 11:00 a.m. (Cleveland time) one (1) Business Day prior to the proposed Drawdown Date with respect to Base Rate Loans and two (2) Business Days prior to the proposed Drawdown Date with respect to LIBOR Rate Loans. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (ia) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) and (iib) a certification by the chief executive officer, president, president or chief financial officer or chief accounting officer of the Borrower that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each such Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (ax) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $100,000.00 in excess thereof; or (by) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 1,000,000.00 in excess thereof; provided, however, that there shall be no more than five six (56) Revolving Credit LIBOR Rate Loans outstanding at any one time.
Appears in 1 contract
Samples: Senior Secured Revolving Credit Agreement (American Realty Capital Healthcare Trust II, Inc.)
Requests for Revolving Credit Loans. Except with respect to the any initial Revolving Credit Loan on the Closing Date, the Borrower shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H D hereto (or telephonic notice confirmed in writing in the form of Exhibit H D hereto) of each Revolving Credit Loan requested hereunder (a “"Loan Request”") by noon 1:00 p.m. (Cleveland Eastern time) one (1) Business Day prior to the proposed Drawdown Date with respect to Revolving Credit Base Rate Loans and two (2) Business Days prior to the proposed Drawdown Date with respect to Revolving Credit LIBOR Rate Loans. , together with an executed Borrowing Base Availability Certificate in the form of Exhibit F. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) and (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer of the Borrower that the Borrower and Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each such Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $100,000.00 in excess thereof100,000; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple 1,000,000 and minimum increments of $250,000.00 250,000 in excess thereof; provided, however, that there shall be no more than five six (56) Revolving Credit LIBOR Rate Loans outstanding at any one time.
Appears in 1 contract
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the The Borrower shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H D hereto (or telephonic notice confirmed in writing in the form of Exhibit H D hereto) of each Revolving Credit Loan requested hereunder (a “Loan RequestRequest Notice”) by 12:00 noon (Cleveland time) one (1) Business Day prior to on the date of the proposed Drawdown Date with respect to Base Rate Loans and two three (23) U.S. Government Securities Business Days prior to the proposed Drawdown Date with respect to LIBOR Rate Term SOFR Loans. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.92.8) and (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer of the Borrower an Authorized Officer that the Borrower and Guarantors Guarantors, if any, are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each such Loan Request Notice shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request Notice shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $100,000.00 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Term SOFR Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00 500,000.00 in excess thereof; provided, however, that there shall be no more than five ten (510) Revolving Credit LIBOR Rate different Interest Periods for Term SOFR Loans outstanding at any one time.
Appears in 1 contract
Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the Borrower shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit H hereto (or telephonic notice confirmed in writing in the form of Exhibit H hereto) of each Revolving Credit Loan requested hereunder (a “"Loan Request”") by noon 9:00 a.m. (Cleveland Boston time) one (1) on the Business Day prior to of the proposed Drawdown Date with respect to Revolving Credit Base Rate Loans and two three (23) Business Days prior to the proposed Drawdown Date with respect to Revolving Credit LIBOR Rate Loans. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §Section 2.9) and and, if such funds are to be used for the purpose described in Section 2.9(f), a breakdown reasonably satisfactory to Agent of funds to be used for such purpose, (ii) a certification by the chief executive officer, president, chief financial officer or chief accounting officer of the Borrower that the Borrower and the Guarantors are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Credit Loan, and (iii) a current calculation of the Borrowing Base with such supporting information as the Agent may require adjusted in the best good faith estimate of the Borrower to give effect to the proposed advance. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each Except as provided in this Section 2.7, each such Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date; provided that, in addition to the Borrower's other remedies against any Revolving Credit Lender which fails to advance its proportionate share of a requested Revolving Credit Loan, such Loan Request may be revoked by the Borrower by notice received by the Agent no later than the Drawdown Date if any Revolving Credit Lender fails to advance its proportionate share of the requested Revolving Credit Loan in accordance with the terms of this Agreement; and provided further that the Borrower shall be liable in accordance with the terms of this Agreement to any Revolving Credit Lender which is prepared to advance its proportionate share of the requested Revolving Credit Loan for any costs, expenses or damages actually incurred by such Revolving Credit Lender as a result of the Borrower's election to revoke such Loan Request. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 1,000,000 or an integral multiple of $100,000.00 100,000 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of $1,000,000.00 2,000,000 or an integral multiple of $250,000.00 100,000 in excess thereof; provided, however, that there shall be no more than five eight (5) 8) LIBOR Rate Loans (including Revolving Credit LIBOR Rate Loans and Term LIBOR Rate Loans) outstanding at any one time.
Appears in 1 contract