Common use of REQUESTS FOR SYNDICATED LOANS Clause in Contracts

REQUESTS FOR SYNDICATED LOANS. The Borrower shall give to the Administrative Agent written notice in the form of Exhibit A attached hereto (or telephonic notice confirmed in a writing in the form of Exhibit A attached hereto) of each Syndicated Loan requested hereunder (a “Loan Request”) not later than (a) 12:00 noon (New York time) on the proposed Drawdown Date of any Base Rate Loan, (b) 12:00 noon (New York time) three (3) Business Days prior to the proposed Drawdown Date of any Eurocurrency Rate Loan that is denominated in Dollars and (c) 12:00 noon (New York time) four (4) Business Days (or five (5) Business Days in the case of a Special Notice Currency) prior to the proposed Drawdown Date of any Eurocurrency Rate Loan that is denominated in Alternative Currencies. Each such notice shall specify (i) the principal amount of the Syndicated Loan requested, (ii) the proposed Drawdown Date of such Syndicated Loan, (iii) the Interest Period for such Syndicated Loan, (iv) the Type of such Syndicated Loan and (v) the currency of such Syndicated Loan. If the Borrower fails to specify a currency in a Loan Request, then the Loan so requested shall be made in Dollars. Promptly upon receipt of any such notice, the Administrative Agent shall notify each of the Lenders thereof. Each Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Syndicated Loan requested from the Lenders on the proposed Drawdown Date. Each Loan Request shall be (A) in a minimum aggregate amount of $1,000,000 or an integral multiple thereof with respect to Base Rate Loans and (B) in a minimum aggregate amount of $5,000,000 or an integral multiple of $l,000,000 with respect to Eurocurrency Rate Loans.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Staples Inc), Revolving Credit Agreement (Staples Inc)

AutoNDA by SimpleDocs

REQUESTS FOR SYNDICATED LOANS. The Borrower shall give to the Administrative Agent written notice in the form of Exhibit EXHIBIT A attached hereto (or telephonic notice confirmed in a writing in the form of Exhibit EXHIBIT A attached hereto) of each Syndicated Loan requested hereunder (a "Loan Request") not later than (a) 12:00 noon (New York Boston time) on the proposed Drawdown Date of any Base Rate Loan, Loan and (b) 12:00 noon (New York Boston time) three (3) Eurodollar Business Days prior to the proposed Drawdown Date of any Eurocurrency Eurodollar Rate Loan that is denominated in Dollars and (c) 12:00 noon (New York time) four (4) Business Days (or five (5) Business Days in the case of a Special Notice Currency) prior to the proposed Drawdown Date of any Eurocurrency Rate Loan that is denominated in Alternative CurrenciesLoan. Each such notice shall specify (i) the principal amount of the Syndicated Loan requested, (ii) the proposed Drawdown Date of such Syndicated Loan, (iii) the Interest Period for such Syndicated Loan, Loan and (iv) the Type of such Syndicated Loan and (v) the currency of such Syndicated Loan. If the Borrower fails to specify a currency in a Loan Request, then the Loan so requested shall be made in Dollars. Promptly upon receipt of any such notice, the Administrative Agent shall notify each of the Lenders Banks thereof. Each Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Syndicated Loan requested from the Lenders Banks on the proposed Drawdown Date. Each Loan Request shall be (A) in a minimum aggregate amount of $1,000,000 or an integral multiple thereof with respect to Base Rate Loans and (B) in a minimum aggregate amount of $5,000,000 2,000,000 or an integral multiple of $l,000,000 with respect to Eurocurrency Eurodollar Rate Loans.

Appears in 1 contract

Samples: Revolving Credit Agreement (Staples Inc)

REQUESTS FOR SYNDICATED LOANS. The Borrower shall give to the Administrative Agent written notice in the form of Exhibit A attached C-1 hereto (or telephonic notice confirmed in writing or a writing facsimile in the form of Exhibit A attached C-1 hereto) of each Syndicated Loan requested hereunder (a "Syndicated Loan Request") not later than (a) 12:00 noon 11:00 a.m. (New York Boston time) on the proposed Drawdown Date of any Base Rate Loan, or (b) 12:00 noon 11:00 a.m. (New York Boston time) three (3) Eurodollar Business Days prior to the proposed Drawdown Date of any Eurocurrency Rate Loan that is denominated in Dollars and (c) 12:00 noon (New York time) four (4) Business Days (or five (5) Business Days in the case of a Special Notice Currency) prior to the proposed Drawdown Date of any Eurocurrency Rate Loan that is denominated in Alternative CurrenciesEurodollar Loan. Each such notice shall specify (iA) the principal amount of the Syndicated Loan requested, (iiB) the proposed Drawdown Date of such Syndicated Loan, (iiiC) whether such Syndicated Loan requested is to be a Base Rate Loan or a Eurodollar Loan and (D) the Interest Period for such Syndicated Loan, (iv) the Type of such if a Eurodollar Loan. Each Syndicated Loan and (v) the currency of such Syndicated Loan. If the Borrower fails to specify a currency in a Loan Request, then the Loan so requested shall be made in Dollarsa minimum amount of $10,000,000. Promptly upon receipt of any Each such notice, request shall specify the Administrative Agent shall notify each principal amount of the Lenders thereofSyndicated Loan requested and shall reflect the Maximum Drawing Amount of all Letters of Credit outstanding and the amount of Loans outstanding (including Competitive Bid Loans). Each Syndicated Loan Request requests made hereunder shall be irrevocable and binding on the Borrower Borrower, and shall obligate the Borrower to accept the Syndicated Loan requested from the Lenders Banks on the proposed Drawdown Date. Each of the representations and warranties made by the Borrower to the Banks or the Administrative Agent in this Agreement or any other Loan Document shall 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 date of the submission of a Syndicated Loan Request or Letter of Credit Request and on and as of the Drawdown Date of such Syndicated Loan or the date of issuance of such Letter of Credit (except to the extent (i) of changes resulting from transactions contemplated or permitted by this Agreement and the other Loan Documents, (ii) of changes occurring in the ordinary course of business that singly or in the aggregate are not materially adverse to the business, assets or financial condition of the Borrower and its Subsidiaries as a whole, or (iii) that such representations and warranties expressly relate only to an earlier date). The Administrative Agent shall be (A) in a minimum aggregate amount promptly notify each Bank of $1,000,000 or an integral multiple thereof with respect to Base Rate Loans and (B) in a minimum aggregate amount each Syndicated Loan Request received by the Administrative Agent. Election of $5,000,000 or an integral multiple of $l,000,000 with respect to Eurocurrency Rate Loans.Eurodollar Rate;

Appears in 1 contract

Samples: Credit Agreement (Millipore Corp)

AutoNDA by SimpleDocs

REQUESTS FOR SYNDICATED LOANS. (a) The Borrower shall give to the Administrative Agent written notice notice, which may be given by (i) telephone or (ii) in the form of Exhibit A attached hereto (or telephonic notice confirmed in a writing in such other form as may be approved by the Administrative Agent (including any form of Exhibit A attached heretoon an electronic platform or electronic transmission system as shall be approved by the Administrative Agent)) of each Syndicated Loan requested hereunder (a “Syndicated Loan Request”) ); provided that any telephonic notice must be confirmed immediately by delivery to the Administrative Agent of a Syndicated Loan Request. Each such Syndicated Loan Request shall be appropriately completed and signed by an authorized officer of the Borrower not later than (aA) 12:00 noon 11:00 a.m. (New York time) on the proposed Drawdown Date of any Base Rate Loan, or (bB) 12:00 noon 11:00 a.m. (New York time) three (3) Business Days prior to the proposed Drawdown Date of any Eurocurrency Rate Loan that is denominated in Dollars and (c) 12:00 noon (New York time) four (4) Business Days (or five (5) Business Days in the case of a Special Notice Currency) prior to the proposed Drawdown Date of any Eurocurrency Rate Loan that is denominated in Alternative CurrenciesEurodollar Loan. Each such notice Syndicated Loan Request shall specify (i1) the principal amount of the Syndicated Loan requested, (ii2) the proposed Drawdown Date of such Syndicated Loan, (iii3) whether such Syndicated Loan requested is to be a Base Rate Loan or a Eurodollar Loan, and (4) the Interest Period for such Syndicated Loan, (iv) the Type of such Syndicated Loan and (v) the currency of such Syndicated if a Eurodollar Loan. If the Borrower fails to specify whether a currency in Syndicated Loan is to be a Base Rate Loan Requestor a Eurodollar Rate Loan, then the applicable Syndicated Loan so shall be made as a Base Rate Loan. If the Borrower requests that a Syndicated Loan is to be a Eurodollar Loan, but fails to specify the Interest Period, it will be deemed to have requested an Interest Period of one month. Each Syndicated Loan requested shall be made in Dollars. Promptly upon receipt a minimum amount of any such notice, the Administrative Agent shall notify each of the Lenders thereof$10,000,000. Each such Syndicated Loan Request shall reflect the Maximum Drawing Amount of all Letters of Credit outstanding and the amount of all Loans outstanding (including Swing Line Loans). Syndicated Loan Requests made hereunder shall be irrevocable and binding on the Borrower Borrower, and shall obligate the Borrower to accept the Syndicated Loan requested from the Lenders Banks on the proposed Drawdown Date. Each Loan Request shall be (A) in a minimum aggregate amount of $1,000,000 or an integral multiple thereof with respect to Base Rate Loans and (B) in a minimum aggregate amount of $5,000,000 or an integral multiple of $l,000,000 with respect to Eurocurrency Rate Loans.

Appears in 1 contract

Samples: Credit Agreement (Waste Management Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!