Common use of Revolving Credit Borrowing Procedure Clause in Contracts

Revolving Credit Borrowing Procedure. In order to effect a Revolving Credit Borrowing, the Borrower shall hand deliver or telecopy to the Administrative Agent a Borrowing notice in the form of Exhibit F (a) in the case of a LIBOR Borrowing, not later than 12:00 (noon), New York City time, three Business Days before a proposed Borrowing, and (b) in the case of an ABR Borrowing, not later than 12:00 (noon), New York City time, on the day of a proposed Borrowing. No Fixed Rate Loan shall be requested or made pursuant to a Revolving Credit Borrowing Request. Such notice shall be irrevocable and shall in each case specify (a) whether the Borrowing then being requested is to be a LIBOR Borrowing or an ABR Borrowing, (b) the date of such Revolving Credit Borrowing (which shall be a Business Day) and the amount thereof and (c) if such Borrowing is to be a LIBOR Borrowing, the Interest Period with respect thereto. If no election as to the Interest Rate Type of a Revolving Credit Borrowing is specified in any such notice, then the requested Revolving Credit Borrowing shall be an ABR Borrowing. If no Interest Period with respect to any LIBOR Borrowing is specified in any such notice, then the Borrower shall be deemed to have selected an Interest Period of one month's duration. If the Borrower shall not have given notice in accordance with this Section 2.5 of its election to refinance a Revolving Credit Borrowing prior to the end of the Interest Period in effect for such Borrowing, then the Borrower shall (unless such Borrowing is repaid at the end of such Interest Period) be deemed to have given notice of an election to refinance such Borrowing with an ABR Borrowing. The Administrative Agent shall promptly advise the Lenders of any notice given pursuant to this Section 2.5 and of each Lender's portion of the requested Borrowing.

Appears in 8 contracts

Samples: Credit Agreement (Cendant Corp), Credit Agreement (Cendant Corp), Credit Agreement (Cendant Corp)

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Revolving Credit Borrowing Procedure. In order Subject to effect a the terms and conditions hereof, the Company may request Revolving Credit BorrowingLoans during the Commitment Period on any Working Day, if all or any part of the Borrower requested Revolving Credit Loans are to be initially Eurodollar Loans, or on any Business Day, otherwise, provided that the Company shall hand deliver or telecopy to give the Administrative Agent a Borrowing notice irrevocable notice, substantially in the form of Exhibit F F, (a) in which notice must be received by the case of a LIBOR Borrowing, not later than 12:00 (noon)Administrative Agent prior to 10:00 A.M., New York City time, (a) three Business Working Days before prior to the requested Borrowing Date, if all or any part of the requested Loans are to be initially Eurodollar Revolving Credit Loans or (b) on the Borrowing Date, otherwise), specifying (i) the amount to be borrowed, (ii) the requested Borrowing Date, (iii) whether the Borrowing is to be of Eurodollar Revolving Credit Loans, Base Rate Loans or a proposed Borrowing, combination thereof and (biv) if the Borrowing is to be entirely or partly of Eurodollar Revolving Credit Loans, the amount of such Type of Loan and the length of the initial Interest Period therefor. Each Borrowing of Revolving Credit Loans shall be in an amount equal to (x) in the case of an ABR BorrowingBase Rate Loans, not later $25,000,000 or a whole multiple of $5,000,000 in excess thereof (or, if the then Aggregate Available Commitment is less than 12:00 $25,000,000, such lesser amount) and (noon)y) in the case of Eurodollar Revolving Credit Loans, $25,000,000 or a whole multiple of $5,000,000 in excess thereof. Upon receipt of any such notice from the Company, the Administrative Agent shall promptly notify the Lending Installation of each Bank thereof. Each Bank will make the amount of its pro rata share of each Borrowing of Revolving Credit Loans available to the Administrative Agent at the office of the Administrative Agent specified in subsection 9.2 prior to 11:00 A.M., New York City time, on the day of a proposed Borrowing. No Fixed Rate Loan shall be Borrowing Date requested or made pursuant to a Revolving Credit Borrowing Request. Such notice shall be irrevocable and shall by the Company in each case specify (a) whether the Borrowing then being requested is to be a LIBOR Borrowing or an ABR Borrowing, (b) the date of such Revolving Credit Borrowing (which shall be a Business Day) and the amount thereof and (c) if such Borrowing is to be a LIBOR Borrowing, the Interest Period with respect thereto. If no election as funds immediately available to the Interest Rate Type of a Revolving Credit Borrowing is specified in any such notice, then the requested Revolving Credit Borrowing shall be an ABR Borrowing. If no Interest Period with respect to any LIBOR Borrowing is specified in any such notice, then the Borrower shall be deemed to have selected an Interest Period of one month's duration. If the Borrower shall not have given notice in accordance with this Section 2.5 of its election to refinance a Revolving Credit Borrowing prior to the end of the Interest Period in effect for such Borrowing, then the Borrower shall (unless such Borrowing is repaid at the end of such Interest Period) be deemed to have given notice of an election to refinance such Borrowing with an ABR BorrowingAdministrative Agent. The Administrative Agent shall promptly advise make the Lenders of any notice given pursuant funds so received from the Banks immediately available to this Section 2.5 and of each Lenderthe Company at the Administrative Agent's portion of aforesaid address or to an account designated by the requested BorrowingCompany.

Appears in 3 contracts

Samples: Credit Agreement (Cit Group Inc), Credit Agreement (Cit Group Inc), Credit Agreement (Cit Group Inc)

Revolving Credit Borrowing Procedure. (a) In order to effect a Revolving Credit Borrowing, the Borrower shall hand deliver or telecopy to the Administrative Agent a Borrowing notice in the form of Exhibit F (a) in the case of a Borrowing of a LIBOR BorrowingRevolving Credit Loan, not later than 12:00 (noon)2:00 p.m., New York City time, three Business Working Days before a proposed Borrowing, and (b) in the case of an ABR Borrowing, not later than 12:00 (noon)2:00 p.m., New York City time, on the day of a proposed Borrowing. No Fixed Rate Loan or LIBOR Competitive Loan shall be requested or made pursuant to a Revolving Credit Borrowing Request. Such notice shall be irrevocable and shall in each case specify (a) whether the Borrowing then being requested is to be a Borrowing of a LIBOR Borrowing Revolving Credit Loan or an ABR Borrowing, (b) the date of such Revolving Credit Borrowing (which shall be a Business Working Day) and the amount thereof and (c) if such Borrowing is to be a Borrowing of LIBOR BorrowingRevolving Credit Loans, the Interest Period with respect thereto. If no election as to the Interest Rate Type of a Revolving Credit Borrowing is specified in any such notice, then the requested Revolving Credit Borrowing shall be an ABR Borrowing. If no Interest Period with respect to any Borrowing of LIBOR Borrowing Revolving Credit Loans is specified in any such notice, then the Borrower shall be deemed to have selected an Interest Period of one month's duration. If the Borrower shall not have given notice in accordance with this Section 2.5 of its election to refinance a Revolving Credit Borrowing prior to the end of the Interest Period in effect for such Borrowing, then the Borrower shall (unless such Borrowing is repaid at the end of such Interest Period) be deemed to have given notice of an election to refinance such Borrowing with an ABR Borrowing. The Administrative Agent shall promptly advise the Lenders Lenders, of any notice given pursuant to this Section 2.5 and of each such Lender's portion of the requested Revolving Credit Borrowing.

Appears in 3 contracts

Samples: Credit Agreement (PHH Corp), Credit Agreement (Cendant Corp), Credit Agreement (Cendant Corp)

Revolving Credit Borrowing Procedure. In order to effect a Revolving Credit Borrowing, the Borrower or any Domestic Subsidiary Borrower shall hand deliver or telecopy to the Administrative Agent a Borrowing notice in the form of Exhibit F E (a) in the case of a LIBOR Borrowing, not later than 12:00 (noon)Noon, New York City time, three Business Days before a proposed Revolving Credit Borrowing, and (b) in the case of an ABR Borrowing, not later than 12:00 (noon)Noon, New York City time, on the day of a proposed Revolving Credit Borrowing. No Fixed Rate Competitive Loan shall be requested or made pursuant to a Revolving Credit Borrowing Request. Such notice shall be irrevocable and shall in each case specify (a) whether the Revolving Credit Borrowing then being requested is to be a LIBOR Borrowing or an ABR Borrowing, (b) the date of such Revolving Credit Borrowing (which shall be a Business Day) and the amount thereof and (c) if such Borrowing is to be a LIBOR Borrowing, the Interest Period with respect thereto. If no election as to the Interest Rate Type of a Revolving Credit Borrowing is specified in any such notice, then the requested Revolving Credit Borrowing shall be an ABR Borrowing. If no Interest Period with respect to any LIBOR Borrowing is specified in any such notice, then the Borrower or the relevant Subsidiary Borrower shall be deemed to have selected an Interest Period of one month's ’s duration. If the Borrower or the relevant Subsidiary Borrower shall not have given notice in accordance with this Section 2.5 2.3 of its election to refinance a Revolving Credit Borrowing prior to the end of the Interest Period in effect for such Borrowing, then the Borrower or the relevant Subsidiary Borrower shall (unless such Borrowing is repaid at the end of such Interest Period) be deemed to have given notice of an election to refinance such Borrowing with a LIBOR Borrowing of one month’s duration (or at any time after the occurrence, and during the continuation, of a Default or an Event of Default, an ABR Borrowing). The Administrative Agent shall promptly advise the Lenders of any notice given pursuant to this Section 2.5 2.3 and of each Lender's ’s portion of the requested Revolving Credit Borrowing.

Appears in 2 contracts

Samples: Credit Agreement (Wyndham Worldwide Corp), Credit Agreement (Wyndham Worldwide Corp)

Revolving Credit Borrowing Procedure. In order to effect a Revolving Credit Borrowing, the Borrower or the applicable Subsidiary Borrower shall hand deliver or telecopy to the Administrative Agent a Borrowing notice substantially in the form of Exhibit F E-1 (a) in the case of a Borrowing of LIBOR BorrowingRevolving Credit Loans, not later than 12:00 (noon)2:00 p.m., New York City time, three Business Working Days before a proposed Borrowing, Borrowing and (b) in the case of an ABR Borrowing or an FFR Borrowing, not later than 12:00 (noon)2:00 p.m., New York City time, on the day of a proposed Borrowing. No Fixed Rate Loan shall be requested or made pursuant to a Revolving Credit Borrowing Request. Such notice shall be irrevocable and shall in each case specify (aA) whether the Borrowing then being requested is to be a Borrowing of LIBOR Revolving Credit Loans, an ABR Borrowing or an ABR FFR Borrowing, (bB) the date of such Revolving Credit Borrowing (which shall be a Business Working Day) and the amount thereof and (cC) if such Borrowing is to be a Borrowing of LIBOR BorrowingRevolving Credit Loans, the Interest Period with respect thereto. If no election as to the Interest Rate Type of a Revolving Credit Borrowing is specified in any such notice, then the requested Revolving Credit Borrowing shall be an ABR Borrowing. If no Interest Period with respect to any Borrowing of LIBOR Borrowing Revolving Credit Loans is specified in any such notice, then the Borrower or such Subsidiary Borrower shall be deemed to have selected an Interest Period of one month's ’s duration. If the Borrower or the applicable Subsidiary Borrower shall not have given notice in accordance with this Section 2.5 of its election to refinance a Revolving Credit Borrowing prior to the end of the Interest Period in effect for such Borrowing, then the Borrower or such Subsidiary Borrower shall (unless such Borrowing is repaid at the end of such Interest Period) be deemed to have given notice of an election to refinance such Borrowing with an ABR Borrowing. The Administrative Agent shall promptly advise the Revolving Lenders of any notice given pursuant to this Section 2.5 and of each such Lender's ’s portion of the requested Revolving Credit Borrowing.

Appears in 2 contracts

Samples: Fourth Amendment (PHH Corp), Fourth Amendment (PHH Corp)

Revolving Credit Borrowing Procedure. (a) In order to effect a Revolving Credit Borrowing, the Borrower shall hand deliver or telecopy to the Administrative Agent a Borrowing notice in the form of Exhibit F (a) in the case of a Borrowing of a LIBOR BorrowingRevolving Credit Loan, not later than 12:00 (noon)2:00 p.m., New York City time, three Business Working Days before a proposed Borrowing, and (b) in the case of an ABR Borrowing, not later than 12:00 (noon)2:00 p.m., New York City time, on the day of a proposed Borrowing. No Fixed Rate Loan or LIBOR Competitive Loan shall be requested or made pursuant to a Revolving Credit Borrowing Request. Such notice shall be irrevocable and shall in each case specify (a) whether the Borrowing then being requested is to be a Borrowing of a LIBOR Borrowing Revolving Credit Loan or an ABR Borrowing, (b) the date of such Revolving Credit Borrowing (which shall be a Business Working Day) and the amount thereof and thereof, (c) if such Borrowing is to be a Borrowing of LIBOR BorrowingRevolving Credit Loans, the Interest Period with respect theretothereto and (d) whether such Borrowing is to be made in Dollars or U.K. Pounds Sterling. If no election as to the Interest Rate Type of a Revolving Credit Borrowing is specified in any such notice, then the requested Revolving Credit Borrowing shall be an ABR Borrowing. Pounds Sterling Loans shall be a Borrowing of LIBOR Revolving Credit Loans. If no Interest Period with respect to any Borrowing of LIBOR Borrowing Revolving Credit Loans is specified in any such notice, then the Borrower shall be deemed to have selected an Interest Period of one month's duration. If the Borrower shall not have given notice in accordance with this Section 2.5 of its election to refinance a Revolving Credit Borrowing prior to the end of the Interest Period in effect for such Borrowing, then the Borrower shall (unless such Borrowing is repaid at the end of such Interest Period) be deemed to have given notice of an election to refinance such Borrowing with an ABR BorrowingBorrowing in the case of Primary Loans and a LIBOR Revolving Credit Loan with an Interest Period of one month's duration in the case of a Pounds Sterling Loan. The Administrative Agent shall promptly advise the Lenders Primary or Pounds Sterling Lenders, as the case may be, of any notice given pursuant to this Section 2.5 and of each such Lender's portion of the requested Borrowing.

Appears in 2 contracts

Samples: 364 Day Competitive Advance and Revolving Credit Agreement (PHH Corp), Credit Agreement (Cendant Corp)

Revolving Credit Borrowing Procedure. In order to effect a Revolving Credit BorrowingBorrowing or the continuation or conversion of an Interest Rate Type applicable thereto, the Borrower shall hand deliver or telecopy (or deliver by comparable means) to the Administrative Agent a Borrowing notice in the form of Exhibit F A-5 (a) in the case of a LIBOR BorrowingRevolving Credit Borrowing or the continuation or conversion of an Interest Rate Type applicable thereto, not later than 12:00 (noon), New York City time, three Business Days before a proposed BorrowingBorrowing or before the last day of the Interest Period applicable to a Revolving Credit Borrowing for which the Interest Rate Type is to be continued or converted, and (b) in the case of an ABR Borrowing, not later than 12:00 (noon)10:00 a.m., New York City time, on the day of a proposed Borrowing. No Fixed Rate Loan or LIBOR Competitive Loan shall be requested or made pursuant to a Revolving Credit Borrowing Request. Such notice shall be irrevocable and shall in each case specify (a) whether the Borrowing then being requested is to be be, or the Borrowing with respect to which the Interest Rate Type is being continued or converted is, a LIBOR Revolving Credit Borrowing or an ABR Borrowing, (b) whether such Borrowing is to be in Dollars or an Alternate Currency (and if in an Alternate Currency, such Alternate Currency), (c) the date of such Revolving Credit Borrowing or continuation or conversion (which shall be a Business Day) and the amount thereof in Dollars (notwithstanding that the request may be for a Borrowing in an Alternate Currency) and (cd) if such Borrowing is to be a LIBOR Revolving Credit Borrowing or if the Borrowing with respect to which the Interest Rate Type being continued or converted is a LIBOR Revolving Credit Borrowing, the Interest Period with respect theretothereto (which may not end after the Maturity Date). If no election as to the Interest Rate Type of a Revolving Credit Borrowing is specified in any such notice, then the requested Revolving Credit Borrowing shall be an ABR Borrowing. If no Interest Period with respect to any LIBOR Revolving Credit Borrowing is specified in any such notice, then the Borrower shall be deemed to have selected an Interest Period of one month's duration. If the Borrower shall not have given notice in accordance with this Section 2.5 2.05 of its election to refinance continue or convert the Interest Rate Type for a Revolving Credit Borrowing prior to the end of the Interest Period in effect for such Borrowing, then (a) in the case of a Borrowing in Dollars, the Borrower shall (unless such Borrowing is repaid at the end of such Interest Period) be deemed to have given notice of an election to refinance continue or convert, as the case may be, such Borrowing with as an ABR BorrowingBorrowing and (b) in the case of a Borrowing in an Alternate Currency, such Borrowing shall be due and payable at the end of such Interest Period. The Administrative Agent shall promptly advise the Lenders Banks of any notice given pursuant to this Section 2.5 2.05 and of each LenderBank's portion of the requested Borrowing.

Appears in 2 contracts

Samples: Credit and Guaranty Agreement (Dentsply International Inc /De/), And Guaranty Agreement (Dentsply International Inc /De/)

Revolving Credit Borrowing Procedure. In order to effect a Revolving Credit Borrowing, the Borrower or any Domestic Subsidiary Borrower shall hand deliver or telecopy to the Administrative Agent a Borrowing notice in the form of Exhibit F F-2 (a) in the case of a LIBOR Borrowing, not later than 12:00 (noon)Noon, New York City time, three Business Days before a proposed Revolving Credit Borrowing, and (b) in the case of an ABR Borrowing, not later than 12:00 (noon)Noon, New York City time, on the day of a proposed Revolving Credit Borrowing. No Fixed Rate Competitive Loan shall be requested or made pursuant to a Revolving Credit Borrowing Request. Such notice shall be irrevocable and shall in each case specify (a) whether the Revolving Credit Borrowing then being requested is to be a LIBOR Borrowing or an ABR Borrowing, (b) the date of such Revolving Credit Borrowing (which shall be a Business Day) and the amount thereof and (c) if such Borrowing is to be a LIBOR Borrowing, the Interest Period with respect thereto. If no election as to the Interest Rate Type of a Revolving Credit Borrowing is specified in any such notice, then the requested Revolving Credit Borrowing shall be an ABR Borrowing. If no Interest Period with respect to any LIBOR Borrowing is specified in any such notice, then the Borrower or the relevant Subsidiary Borrower shall be deemed to have selected an Interest Period of one month's ’s duration. If the Borrower or the relevant Subsidiary Borrower shall not have given notice in accordance with this Section 2.5 2.4 of its election to refinance a Revolving Credit Borrowing prior to the end of the Interest Period in effect for such Borrowing, then the Borrower or the relevant Subsidiary Borrower shall (unless such Borrowing is repaid at the end of such Interest Period) be deemed to have given notice of an election to refinance such Borrowing with a LIBOR Borrowing of one month’s duration (or at any time after the occurrence, and during the continuation, of a Default or an Event of Default, an ABR Borrowing). The Administrative Agent shall promptly advise the Lenders of any notice given pursuant to this Section 2.5 2.4 and of each Lender's ’s portion of the requested Revolving Credit Borrowing.

Appears in 2 contracts

Samples: Credit Agreement (Wyndham Worldwide Corp), Credit Agreement (Realogy Corp)

Revolving Credit Borrowing Procedure. In order Subject to effect a the terms and conditions hereof, the Company may request Revolving Credit BorrowingLoans during the Commitment Period on any Working Day, if all or any part of the Borrower requested Revolving Credit Loans are to be initially Eurodollar Loans, or on any Business Day, otherwise, provided that the Company shall hand deliver or telecopy to give the Administrative Agent a Borrowing notice irrevocable notice, substantially in the form of Exhibit F F, (a) in which notice must be received by the case of a LIBOR Borrowing, not later than 12:00 (noon)Administrative Agent prior to 10:00 A.M., New York City time, (a) three Business Working Days before prior to the requested Borrowing Date, if all or any part of the requested Loans are to be initially Eurodollar Revolving Credit Loans or (b) on the Borrowing Date, otherwise), specifying (i) the amount to be borrowed, (ii) the requested Borrowing Date, (iii) whether the Borrowing is to be of Eurodollar Revolving Credit Loans, Base Rate Loans or a proposed Borrowing, combination thereof and (biv) if the Borrowing is to be entirely or partly of Eurodollar Revolving Credit Loans, the amount of such Type of Loan and the length of the initial Interest Period therefor. Each Borrowing of Revolving Credit Loans shall be in an amount equal to (x) in the case of an ABR BorrowingBase Rate Loans, not later $25,000,000 or a whole multiple of $5,000,000 in excess thereof (or, if the then Aggregate Available Commitment is less than 12:00 $25,000,000, such lesser amount) and (noon)y) in the case of Eurodollar Revolving Credit Loans, $25,000,000 or a whole multiple of $5,000,000 in excess thereof. Upon receipt of any such notice from the Company, the Administrative Agent shall promptly notify the Lending Installation of each Bank thereof. Each Bank will make the amount of its pro rata share of each Borrowing of Revolving Credit Loans available to the Administrative Agent at the office of the Administrative Agent specified in subsection 10.2 prior to 11:00 A.M., New York City time, on the day of a proposed Borrowing. No Fixed Rate Loan shall be Borrowing Date requested or made pursuant to a Revolving Credit Borrowing Request. Such notice shall be irrevocable and shall by the Company in each case specify (a) whether the Borrowing then being requested is to be a LIBOR Borrowing or an ABR Borrowing, (b) the date of such Revolving Credit Borrowing (which shall be a Business Day) and the amount thereof and (c) if such Borrowing is to be a LIBOR Borrowing, the Interest Period with respect thereto. If no election as funds immediately available to the Interest Rate Type of a Revolving Credit Borrowing is specified in any such notice, then the requested Revolving Credit Borrowing shall be an ABR Borrowing. If no Interest Period with respect to any LIBOR Borrowing is specified in any such notice, then the Borrower shall be deemed to have selected an Interest Period of one month's duration. If the Borrower shall not have given notice in accordance with this Section 2.5 of its election to refinance a Revolving Credit Borrowing prior to the end of the Interest Period in effect for such Borrowing, then the Borrower shall (unless such Borrowing is repaid at the end of such Interest Period) be deemed to have given notice of an election to refinance such Borrowing with an ABR BorrowingAdministrative Agent. The Administrative Agent shall promptly advise make the Lenders of any notice given pursuant funds so received from the Banks immediately available to this Section 2.5 and of each Lenderthe Company at the Administrative Agent's portion of aforesaid address or to an account designated by the requested BorrowingCompany.

Appears in 2 contracts

Samples: Credit Agreement (Cit Group Inc), Credit Agreement (Cit Group Inc)

Revolving Credit Borrowing Procedure. In order to effect a Revolving Credit Borrowing, the Borrower shall hand deliver or telecopy to the Administrative Agent a Borrowing notice in the form of Exhibit F (a) in the case of a Borrowing of a LIBOR BorrowingRevolving Credit Loan, not later than 12:00 (noon)2:00 p.m., New York City time, three Business Working Days before a proposed Borrowing, and (b) in the case of an ABR Borrowing, not later than 12:00 (noon)2:00 p.m., New York City time, on the day of a proposed Borrowing. No Fixed Rate Loan or LIBOR Competitive Loan shall be requested or made pursuant to a Revolving Credit Borrowing Request. Such notice shall be irrevocable and shall in each case specify (a) whether the Borrowing then being requested is to be a Borrowing of a LIBOR Borrowing Revolving Credit Loan or an ABR Borrowing, (b) the date of such Revolving Credit Borrowing (which shall be a Business Working Day) and the amount thereof and (c) if such Borrowing is to be a Borrowing of LIBOR BorrowingRevolving Credit Loans, the Interest Period with respect thereto. If no election as to the Interest Rate Type of a Revolving Credit Borrowing is specified in any such notice, then the requested Revolving Credit Borrowing shall be an ABR Borrowing. If no Interest Period with respect to any Borrowing of LIBOR Borrowing Revolving Credit Loans is specified in any such notice, then the Borrower shall be deemed to have selected an Interest Period of one month's duration. If the Borrower shall not have given notice in accordance with this Section 2.5 of its election to refinance a Revolving Credit Borrowing prior to the end of the Interest Period in effect for such Borrowing, then the Borrower shall (unless such Borrowing is repaid at the end of such Interest Period) be deemed to have given notice of an election to refinance such Borrowing with an ABR Borrowing. The Administrative Agent shall promptly advise the Lenders Lenders, of any notice given pursuant to this Section 2.5 and of each such Lender's portion of the requested Revolving Credit Borrowing.

Appears in 1 contract

Samples: Competitive Advance and Revolving Credit Agreement (PHH Corp)

Revolving Credit Borrowing Procedure. In order to effect a Revolving Credit Borrowing, the Borrower or any Domestic Subsidiary Borrower shall hand deliver or telecopy to the Administrative Agent a Borrowing notice in the form of Exhibit F E (a) in the case of a LIBOR Borrowing, not later than 12:00 (noon)Noon, New York City time, three Business Days (or four Business Days in the case of a LIBOR Borrowing denominated in Australian Dollars or New Zealand Dollars) before a proposed Revolving Credit Borrowing, and (b) in the case of an ABR Borrowing, not later than 12:00 (noon)Noon, New York City time, on the day of a proposed Revolving Credit Borrowing. No Fixed Rate Competitive Loan shall be requested or made pursuant to a Revolving Credit Borrowing Request. Such notice shall be irrevocable and shall in each case specify (a) whether the Revolving Credit Borrowing then being requested is to be a LIBOR Borrowing or an ABR Borrowing, (b) the date of such Revolving Credit Borrowing (which shall be a Business Day) and the amount thereof and (c) if such Borrowing is to be a LIBOR Borrowing, the Interest Period with respect thereto. If no election as to the Interest Rate Type of a Revolving Credit Borrowing is specified in any such notice, then the requested Revolving Credit Borrowing shall be an ABR Borrowing. If no Interest Period with respect to any LIBOR Borrowing is specified in any such notice, then the Borrower or the relevant Domestic Subsidiary Borrower shall be deemed to have selected an Interest Period of one month's ’s duration. If the Borrower or the relevant Domestic Subsidiary Borrower shall not have given notice in accordance with this Section 2.5 2.3 of its election to refinance a Revolving Credit Borrowing prior to the end of the Interest Period in effect for such Borrowing, then the Borrower or the relevant Domestic Subsidiary Borrower shall (unless such Borrowing is repaid at the end of such Interest Period) be deemed to have given notice of an election to refinance such Borrowing, subject to Section 2.8, with a LIBOR Borrowing with an ABR Borrowingof one month’s duration. The Administrative Agent shall promptly advise the Lenders of any notice given pursuant to this Section 2.5 2.3 and of each Lender's ’s portion of the requested Revolving Credit Borrowing.

Appears in 1 contract

Samples: Credit Agreement (Wyndham Worldwide Corp)

Revolving Credit Borrowing Procedure. In order to effect a Revolving Credit Borrowing, the Borrower shall hand deliver or telecopy to the Administrative Agent a Borrowing notice in the form of Exhibit F (a) in the case of a Borrowing of a LIBOR BorrowingRevolving Credit Loan, not later than 12:00 (noon)2:00 p.m., New York City time, three Business Working Days before a proposed Borrowing, and (b) in the case of an ABR Borrowing, not later than 12:00 (noon)2:00 p.m., New York City time, on the day of a proposed Borrowing. No Fixed Rate Loan or LIBOR Competitive Loan shall be requested or made pursuant to a Revolving Credit Borrowing Request. Such notice shall be irrevocable and shall in each case specify (a) whether the Borrowing then being requested is to be a Borrowing of a LIBOR Borrowing Revolving Credit Loan or an ABR Borrowing, (b) the date of such Revolving Credit Borrowing (which shall be a Business Working Day) and the amount thereof and (c) if such Borrowing is to be a Borrowing of LIBOR BorrowingRevolving Credit Loans, the Interest Period with respect thereto. If no election as to the Interest Rate Type of a Revolving Credit Borrowing is specified in any such notice, then the requested Revolving Credit Borrowing shall be an ABR Borrowing. If no Interest Period with respect to any Borrowing of LIBOR Borrowing Revolving Credit Loans is specified in any such notice, then the Borrower shall be deemed to have selected an Interest Period of one month's ’s duration. If the Borrower shall not have given notice in accordance with this Section 2.5 of its election to refinance a Revolving Credit Borrowing prior to the end of the Interest Period in effect for such Borrowing, then the Borrower shall (unless such Borrowing is repaid at the end of such Interest Period) be deemed to have given notice of an election to refinance such Borrowing with an ABR Borrowing. The Administrative Agent shall promptly advise the Lenders of any notice given pursuant to this Section 2.5 and of each such Lender's ’s portion of the requested Revolving Credit Borrowing.

Appears in 1 contract

Samples: Credit Agreement (PHH Corp)

Revolving Credit Borrowing Procedure. (a) In order to effect a Revolving Credit Borrowing, the Borrower shall hand 105 deliver or telecopy to the Administrative Agent a Borrowing notice in the form of Exhibit F A-5 (a) in the case of a LIBOR Revolving Credit Borrowing, not later than 12:00 (noon), New York City time, three Business Days before a proposed Borrowing, and (b) in the case of an ABR Borrowing, not later than 12:00 (noon)10:00 a.m., New York City time, on the day of a proposed Borrowing. No Fixed Rate Loan shall be requested or made pursuant to a Revolving Credit Borrowing Request. Such notice shall be irrevocable and shall in each case specify (a) whether the Borrowing then being requested is to be a LIBOR Revolving Credit Borrowing or an ABR Borrowing, (b) the date of such Revolving Credit Borrowing (which shall be a Business Day) and the amount thereof and (c) if such Borrowing is to be a LIBOR Revolving Credit Borrowing, the Interest Period with respect theretothereto (which may not end after the Maturity Date). If no election as to the Interest Rate Type of a Revolving Credit Borrowing is specified in any such notice, then the requested Revolving Credit Borrowing shall be an ABR Borrowing. If no Interest Period with respect to any LIBOR Revolving Credit Borrowing is specified in any such notice, then the Borrower shall be deemed to have selected an Interest Period of one month's duration. If the Borrower shall not have given notice in accordance with this Section 2.5 2.05 of its election to refinance a Revolving Credit Borrowing prior to the end of the Interest Period in effect for such Borrowing, then the Borrower shall (unless such Borrowing is repaid at the end of such Interest Period) be deemed to have given notice of an election to refinance such Borrowing with an ABR Borrowing. The Administrative Agent shall promptly advise the Lenders Banks of any notice given pursuant to this Section 2.5 2.05 and of each LenderBank's portion of the requested Borrowing.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Dentsply International Inc /De/)

Revolving Credit Borrowing Procedure. In order to effect a Revolving Credit Borrowing, the Borrower or any Domestic Subsidiary Borrower shall hand deliver or telecopy to the Administrative Agent a Borrowing notice in the form of Exhibit F E-2 (a) in the case of a LIBOR Borrowing, not later than 12:00 (noon)Noon, New York City time, three Business Days before a proposed Revolving Credit Borrowing, and (b) in the case of an ABR Borrowing, not later than 12:00 (noon)Noon, New York City time, on the day of a proposed Borrowing. No Fixed Rate Loan shall be requested or made pursuant to a Revolving Credit Borrowing RequestBorrowing. Such notice shall be irrevocable and shall in each case specify (a) whether the Revolving Credit Borrowing then being requested is to be a LIBOR Borrowing or an ABR Borrowing, (b) the date of such Revolving Credit Borrowing (which shall be a Business Day) and the amount thereof and (c) if such Borrowing is to be a LIBOR Borrowing, the Interest Period with respect thereto. If no election as to the Interest Rate Type of a Revolving Credit Borrowing is specified in any such notice, then the requested Revolving Credit Borrowing shall be an ABR Borrowing. If no Interest Period with respect to any LIBOR Borrowing is specified in any such notice, then the Borrower or the relevant Subsidiary Borrower shall be deemed to have selected an Interest Period of one month's ’s duration. If the Borrower or the relevant Subsidiary Borrower shall not have given notice in accordance with this Section 2.5 2.4 of its election to refinance a Revolving Credit Borrowing prior to the end of the Interest Period in effect for such Borrowing, then the Borrower or the relevant Subsidiary Borrower shall (unless such Borrowing is repaid at the end of such Interest Period) be deemed to have given notice of an election to refinance such Borrowing with a LIBOR Borrowing of one month’s duration (or at any time after the occurrence, and during the continuation, of a Default or an Event of Default, an ABR Borrowing). The Administrative Agent shall promptly advise the Lenders of any notice given pursuant to this Section 2.5 2.4 and of each Lender's ’s portion of the requested Revolving Credit Borrowing.

Appears in 1 contract

Samples: Day Credit Agreement (Cendant Corp)

Revolving Credit Borrowing Procedure. In order to effect a Revolving Credit Borrowing, the Borrower or any Domestic Subsidiary Borrower shall hand deliver or telecopy to the Administrative Agent a Borrowing notice in substantially the form of Exhibit F E or such other form as may be approved by the Administrative Agent (including any form on an electronic platform or electronic transmission system as shall be approved by the Administrative Agent), appropriately completed and signed by a Responsible Officer of the Borrower (a) in the case of a LIBOR Borrowing, not later than 12:00 (noon)Noon, New York City time, three Business Days (or four Business Days in the case of a LIBOR Borrowing denominated in Australian Dollars or New Zealand Dollars) before a proposed Revolving Credit Borrowing, and (b) in the case of an ABR Borrowing, not later than 12:00 (noon)2:00 P.M., New York City time, on the day of a proposed Revolving Credit Borrowing. No Fixed Rate Competitive Loan shall be requested or made pursuant to a Revolving Credit Borrowing Request. Such notice shall be irrevocable and shall in each case specify (a) whether the Revolving Credit Borrowing then being requested is to be a LIBOR Borrowing or an ABR Borrowing, (b) the date of such Revolving Credit Borrowing (which shall be a Business Day) and the amount thereof and (c) if such Borrowing is to be a LIBOR Borrowing, the Interest Period with respect thereto. If no election as to the Interest Rate Type of a Revolving Credit Borrowing is specified in any such notice, then the requested Revolving Credit Borrowing shall be an ABR Borrowing. If no Interest Period with respect to any LIBOR Borrowing is specified in any such notice, then the Borrower or the relevant Domestic Subsidiary Borrower shall be deemed to have selected an Interest Period of one month's ’s duration. If the Borrower or the relevant Domestic Subsidiary Borrower shall not have given notice in accordance with this Section 2.5 2.3 of its election to refinance a Revolving Credit Borrowing prior to the end of the Interest Period in effect for such Borrowing, then the Borrower or the relevant Domestic Subsidiary Borrower shall (unless such Borrowing is repaid at the end of such Interest Period) be deemed to have given notice of an election to refinance such Borrowing, subject to Section 2.8, with a LIBOR Borrowing with an ABR Borrowingof one month’s duration. The Administrative Agent shall promptly advise the Lenders of any notice given pursuant to this Section 2.5 2.3 and of each Lender's ’s portion of the requested Revolving Credit Borrowing.

Appears in 1 contract

Samples: Credit Agreement (Wyndham Worldwide Corp)

Revolving Credit Borrowing Procedure. In order to effect request a Revolving Credit Borrowing, the a Borrower shall hand deliver or telecopy a Revolving Credit Borrowing Request to the Administrative Agent a Borrowing notice in the form of Exhibit F A-5 (a) in the case of a LIBOR BorrowingEurocurrency Revolving Credit Borrowing in Dollars, not later than 12:00 (noon), 10:30 a.m. New York City time, three Business Days before a proposed Revolving Credit Borrowing, (b) in the case of a Eurocurrency Revolving Credit Borrowing by MBNA Europe in an Agreed Alternative Currency, not later than 10:30 a.m. New York time, four Business Days before a proposed Revolving Credit Borrowing and (bc) in the case of an ABR Borrowing, not later than 12:00 (noon), 10:00 a.m. New York City time, on the day of a proposed Revolving Credit Borrowing. No Fixed Rate Loan shall be requested or made pursuant to a Revolving Credit Borrowing Request. Such notice shall be irrevocable and shall in each case specify (ai) whether the Borrowing then being requested is to be a LIBOR Eurocurrency Revolving Credit Borrowing or an ABR Borrowing, ; (bii) the Currency of such Borrowing; (iii) the date of such Revolving Credit Borrowing (which shall be a Business Day) and the amount thereof thereof; and (civ) if such Borrowing is to be a LIBOR Eurocurrency Revolving Credit Borrowing, the Interest Period with respect thereto. If no election as to the Interest Rate Type of a Revolving Credit Borrowing is specified in any such notice, then the requested Revolving Credit Borrowing shall be an ABR Borrowing. If no Interest Period with respect to any LIBOR Eurocurrency Revolving Credit Borrowing is specified in any such notice, then the such Borrower shall be deemed to have selected an Interest Period of one month's duration. If the Borrower shall not have given notice in accordance with this Section 2.5 of its election to refinance a Revolving Credit Borrowing prior to the end of the Interest Period in effect for such Borrowing, then the Borrower shall (unless such Borrowing is repaid at the end of such Interest Period) be deemed to have given notice of an election to refinance such Borrowing with an ABR Borrowing. The Administrative Agent shall promptly advise the Lenders of any notice given pursuant to this Section 2.5 2.04 and of each Lender's portion of the requested Borrowing.

Appears in 1 contract

Samples: Credit Facility Agreement (Mbna Corp)

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Revolving Credit Borrowing Procedure. In order to effect a Revolving Credit Borrowing, the Borrower or the applicable Subsidiary Borrower shall hand deliver or telecopy to the Administrative Agent a Borrowing notice substantially in the form of Exhibit F E-1 (a) in the case of a Borrowing of LIBOR BorrowingRevolving Credit Loans, not later than 12:00 (noon)2:00 p.m., New York City time, three Business (i) four Working Days before a proposed BorrowingBorrowing denominated in any Available Foreign Currency and (ii) three Working Days before a proposed Borrowing denominated in Dollars, and (b) in the case of an ABR Borrowing or an FFR Borrowing, not later than 12:00 (noon)2:00 p.m., New York City time, on the day of a proposed Borrowing. No Fixed Rate Loan or LIBOR Competitive Loan shall be requested or made pursuant to a Revolving Credit Borrowing Request. Such notice shall be irrevocable and shall in each case specify (aA) whether the Borrowing then being requested is to be a Borrowing of LIBOR Revolving Credit Loans, an ABR Borrowing or an ABR FFR Borrowing, (bB) the date of such Revolving Credit Borrowing (which shall be a Business Working Day) and the amount thereof and (cC) if such Borrowing is to be a Borrowing of LIBOR BorrowingRevolving Credit Loans, the Interest Period and Currency with respect thereto. If no election as to the Interest Rate Type of a Revolving Credit Borrowing is specified in any such notice, then the requested Revolving Credit Borrowing shall be an ABR Borrowing. If no Interest Period with respect to any Borrowing of LIBOR Borrowing Revolving Credit Loans is specified in any such notice, then the Borrower or such Subsidiary Borrower shall be deemed to have selected an Interest Period of one month's ’s duration. If no Currency with respect to any Borrowing of LIBOR Revolving Credit Loans is specified in any such notice, then the Borrower or such Subsidiary Borrower shall be deemed to have selected Dollars. If the Borrower or the applicable Subsidiary Borrower shall not have given notice in accordance with this Section 2.5 of its election to refinance a Revolving Credit Borrowing prior to the end of the Interest Period in effect for such Borrowing, then the Borrower or such Subsidiary Borrower shall (unless such Borrowing is repaid at the end of such Interest Period) be deemed to have given notice of an election to refinance such Borrowing with an ABR Borrowing. The Administrative Agent shall promptly advise the Revolving Lenders of any notice given pursuant to this Section 2.5 and of each such Lender's ’s portion of the requested Revolving Credit Borrowing.

Appears in 1 contract

Samples: Competitive Advance and Revolving Credit Agreement (PHH Corp)

Revolving Credit Borrowing Procedure. In order to effect a Revolving Credit Borrowing, the Borrower or any Domestic Subsidiary Borrower shall hand deliver or telecopy to the Administrative Agent a Borrowing notice in the form of Exhibit F E (a) in the case of a LIBOR Borrowing, not later than 12:00 (noon)Noon, New York City time, three Business Days before a proposed Revolving Credit Borrowing, and (b) in the case of an ABR Borrowing, not later than 12:00 (noon)Noon, New York City time, on the day of a proposed Revolving Credit Borrowing. No Fixed Rate Competitive Loan shall be requested or made pursuant to a Revolving Credit Borrowing Request. Such notice shall be irrevocable and shall in each case specify (a) whether the Revolving Credit Borrowing then being requested is to be a LIBOR Borrowing or an ABR Borrowing, (b) the date of such Revolving Credit Borrowing (which shall be a Business Day) and the amount thereof and (c) if such Borrowing is to be a LIBOR Borrowing, the Interest Period with respect thereto. If no election as to the Interest Rate Type of a Revolving Credit Borrowing is specified in any such notice, then the requested Revolving Credit Borrowing shall be an ABR Borrowing. If no Interest Period with respect to any LIBOR Borrowing is specified in any such notice, then the Borrower or the relevant Domestic Subsidiary Borrower shall be deemed to have selected an Interest Period of one month's ’s duration. If the Borrower or the relevant Domestic Subsidiary Borrower shall not have given notice in accordance with this Section 2.5 2.3 of its election to refinance a Revolving Credit Borrowing prior to the end of the Interest Period in effect for such Borrowing, then the Borrower or the relevant Domestic Subsidiary Borrower shall (unless such Borrowing is repaid at the end of such Interest Period) be deemed to have given notice of an election to refinance such Borrowing with a LIBOR Borrowing of one month’s duration (or at any time after the occurrence, and during the continuation, of a Default or an Event of Default, an ABR Borrowing). The Administrative Agent shall promptly advise the Lenders of any notice given pursuant to this Section 2.5 2.3 and of each Lender's ’s portion of the requested Revolving Credit Borrowing.

Appears in 1 contract

Samples: Credit Agreement (Wyndham Worldwide Corp)

Revolving Credit Borrowing Procedure. In order to effect a Revolving Credit Borrowing, the Borrower shall hand deliver or telecopy to the Administrative Agent a Borrowing notice in the form of Exhibit F (a) in the case of a Borrowing of a LIBOR BorrowingRevolving Credit Loan, not later than 12:00 (noon)2:00 p.m., New York City time, three Business Working Days before a proposed Borrowing, and (b) in the case of an ABR Borrowing, not later than 12:00 (noon)2:00 p.m., New York City time, on the day of a proposed Borrowing. No Fixed Rate Loan or LIBOR Competitive Loan shall be requested or made pursuant to a Revolving Credit Borrowing Request. Such notice shall be irrevocable and shall in each case specify (a) whether the Borrowing then being requested is to be a Borrowing of a LIBOR Borrowing Revolving Credit Loan or an ABR Borrowing, (b) the date of such Revolving Credit Borrowing (which shall be a Business Working Day) and the amount thereof and (c) if such Borrowing is to be a Borrowing of LIBOR BorrowingRevolving Credit Loans, the Interest Period with respect thereto. If no election as to the Interest Rate Type of a Revolving Credit Borrowing is specified in any such notice, then the requested Revolving Credit Borrowing shall be an ABR Borrowing. If no Interest Period with respect to any Borrowing of LIBOR Borrowing Revolving Credit Loans is specified in any such notice, then the Borrower shall be deemed to have selected an Interest Period of one month's duration. If the Borrower shall not have given notice in accordance with this Section 2.5 of its election to refinance a Revolving Credit Borrowing prior to the end of the Interest Period in effect for such Borrowing, then the Borrower shall (unless such Borrowing is repaid at the end of such Interest Period) be deemed to have given notice of an election to refinance such Borrowing with an ABR Borrowing. The Administrative Agent shall promptly advise the Lenders of any notice given pursuant to this Section 2.5 and of each such Lender's portion of the requested Borrowing.

Appears in 1 contract

Samples: Five Year Competitive Advance and Revolving Credit Agreement (PHH Corp)

Revolving Credit Borrowing Procedure. In order to effect request a Revolving Credit Borrowing, the Borrower shall hand deliver or telecopy a Revolving Credit Borrowing Request to the Administrative Agent a Borrowing notice in the form of Exhibit F A-5 (a) in the case of a LIBOR Eurodollar Revolving Credit Borrowing, not later than 12:00 (noon)10:30 a.m., New York City time, three Business Days before a proposed Borrowing, Revolving Credit Borrowing and (b) in the case of an ABR Borrowing, not later than 12:00 (noon)10:00 a.m., New York City time, on the day of a proposed Revolving Credit Borrowing. No Fixed Rate Loan shall be requested or made pursuant to a Revolving Credit Borrowing Request. Such notice shall be irrevocable and shall in each case specify (ai) whether the Borrowing then being requested is to be a LIBOR Eurodollar Revolving Credit Borrowing or an ABR Borrowing, ; (bii) the date of such Revolving Credit Borrowing (which shall be a Business Day) and the amount thereof thereof; and (ciii) if such Borrowing is to be a LIBOR Eurodollar Revolving Credit Borrowing, the Interest Period with respect thereto. If no election as to the Interest Rate Type of a Revolving Credit Borrowing is specified in any such notice, then the requested Revolving Credit Borrowing shall be an ABR Borrowing. If no Interest Period with respect to any LIBOR Eurodollar Revolving Credit Borrowing is specified in any such notice, then the Borrower shall be deemed to have selected an Interest Period of one month's duration. If the Borrower shall not have given notice in accordance with this Section 2.5 of its election to refinance a Revolving Credit Borrowing prior to the end of the Interest Period in effect for such Borrowing, then the Borrower shall (unless such Borrowing is repaid at the end of such Interest Period) be deemed to have given notice of an election to refinance such Borrowing with an ABR Borrowing. The Administrative Agent shall promptly advise the Lenders of any notice given pursuant to this Section 2.5 2.04 and of each Lender's portion of the requested Borrowing.

Appears in 1 contract

Samples: Competitive Advance and Revolving Credit Facility Agreement (Mbna Corp)

Revolving Credit Borrowing Procedure. In order to effect a Revolving Credit Borrowing, the Borrower or the applicable Subsidiary Borrower shall hand deliver or telecopy to the Administrative Agent a Borrowing notice substantially in the form of Exhibit F D (a) in the case of a Borrowing of LIBOR BorrowingLoans, not later than 12:00 (noon)2:00 p.m., New York City time, three Business (i) four Working Days before a proposed BorrowingBorrowing denominated in any Available Foreign Currency and (ii) three Working Days before a proposed Borrowing denominated in Dollars, and (b) in the case of an ABR Borrowing or an FFR Borrowing, not later than 12:00 (noon)2:00 p.m., New York City time, on the day of a proposed Borrowing. No Fixed Rate Loan shall be requested or made pursuant to a Revolving Credit Borrowing Request. Such notice shall be irrevocable and shall in each case specify (aA) whether the Borrowing then being requested is to be a Borrowing of LIBOR Loans, an ABR Borrowing or an ABR FFR Borrowing, (bB) the date of such Revolving Credit Borrowing (which shall be a Business Working Day) and the amount thereof and (cC) if such Borrowing is to be a Borrowing of LIBOR BorrowingLoans, the Interest Period and Currency with respect thereto. If no election as to the Interest Rate Type of a Revolving Credit Borrowing is specified in any such notice, then the requested Revolving Credit Borrowing shall be an ABR Borrowing. If no Interest Period with respect to any Borrowing of LIBOR Borrowing Loans is specified in any such notice, then the Borrower or such Subsidiary Borrower shall be deemed to have selected an Interest Period of one month's ’s duration. If no Currency with respect to any Borrowing of LIBOR Loans is specified in any such notice, then the Borrower or such Subsidiary Borrower shall be deemed to have selected Dollars. If the Borrower or the applicable Subsidiary Borrower shall not have given notice in accordance with this Section 2.5 of its election to refinance a Revolving Credit Borrowing prior to the end of the Interest Period in effect for such Borrowing, then the Borrower or such Subsidiary Borrower shall (unless such Borrowing is repaid at the end of such Interest Period) be deemed to have given notice of an election to refinance such Borrowing with an ABR Borrowing. The Administrative Agent shall promptly advise the Lenders of any notice given pursuant to this Section 2.5 and of each such Lender's ’s portion of the requested Revolving Credit Borrowing.

Appears in 1 contract

Samples: Day Revolving Credit Agreement (PHH Corp)

Revolving Credit Borrowing Procedure. In order to effect a Revolving Credit Borrowing, the Borrower shall hand deliver or telecopy to the Administrative Agent a Borrowing notice in the form of Exhibit F E (a) in the case of a LIBOR Borrowing, not later than 12:00 (noon), New York City time, three Business Days before a proposed Borrowing, and (b) in the case of an ABR Borrowing, not later than 12:00 (noon), New York City time, on the day of a proposed Borrowing. No Fixed Rate Loan shall be requested or made pursuant to a Revolving Credit Borrowing Request. Such notice shall be irrevocable and shall in each case specify (a) whether the Borrowing then being requested is to be a LIBOR Borrowing or an ABR Borrowing, (b) the date of such Revolving Credit Borrowing (which shall be a Business Day) and the amount thereof and (c) if such Borrowing is to be a LIBOR Borrowing, the Interest Period with respect thereto. If no election as to the Interest Rate Type of a Revolving Credit Borrowing is specified in any such notice, then the requested Revolving Credit Borrowing shall be an ABR Borrowing. If no Interest Period with respect to any LIBOR Borrowing is specified in any such notice, then the Borrower shall be deemed to have selected an Interest Period of one month's ’s duration. If the Borrower shall not have given notice in accordance with this Section 2.5 2.4 of its election to refinance a Revolving Credit Borrowing prior to the end of the Interest Period in effect for such Borrowing, then the Borrower shall (unless such Borrowing is repaid at the end of such Interest Period) be deemed to have given notice of an election to refinance such Borrowing with an ABR Borrowing. The Administrative Agent shall promptly advise the Lenders of any notice given pursuant to this Section 2.5 2.4 and of each Lender's ’s portion of the requested Borrowing.

Appears in 1 contract

Samples: Revolving Credit Agreement (Cendant Corp)

Revolving Credit Borrowing Procedure. (a) In order to effect a Revolving Credit Borrowing, the Borrower shall hand deliver or telecopy to the Administrative Agent a Borrowing notice in the form of Exhibit F A-5 (a) in the case of a LIBOR Revolving Credit Borrowing, not later than 12:00 (noon), New York City time, three Business Days before a proposed Borrowing, and (b) in the case of an ABR Borrowing, not later than 12:00 (noon)10:00 a.m., New York City time, on the day of a proposed Borrowing. No Fixed Rate Loan shall be requested or made pursuant to a Revolving Credit Borrowing Request. Such notice shall be irrevocable and shall in each case specify (a) whether the Borrowing then being requested is to be a LIBOR Revolving Credit Borrowing or an ABR Borrowing, (b) whether such Borrowing is to be in dollars or an Alternate Currency (and if in an Alternate Currency, such Alternate Currency), (c) the date of such Revolving Credit Borrowing (which shall be a Business Day) and the amount thereof and (cd) if such Borrowing is to be a LIBOR Revolving Credit Borrowing, the Interest Period with respect theretothereto (which may not end after the Maturity Date). If no election as to the Interest Rate Type of a Revolving Credit Borrowing is specified in any such notice, then the requested Revolving Credit Borrowing shall be an ABR Borrowing. If no Interest Period with respect to any LIBOR Revolving Credit Borrowing is specified in any such notice, then the Borrower shall be deemed to have selected an Interest Period of one month's duration. If the Borrower shall not have given notice in accordance with this Section 2.5 2.05 of its election to refinance a Revolving Credit Borrowing prior to the end of the Interest Period in effect for such Borrowing, then (a) in the case of a Borrowing in dollars, the Borrower shall (unless such Borrowing is repaid at the end of such Interest Period) be deemed to have given notice of an election to refinance such Borrowing with an ABR BorrowingBorrowing and (b) in the case of a Borrowing in an Alternate Currency, such Borrowing shall be due and payable at the end of such Interest Period. The Administrative Agent shall promptly advise the Lenders Banks of any notice given pursuant to this Section 2.5 2.05 and of each LenderBank's portion of the requested Borrowing. (b) In the event that any LIBOR Revolving Credit Borrowing remains outstanding which has an Interest Period ending on any date after the Termination Date, the Borrower shall elect a new Interest Period for each such Borrowing in accordance with the procedures set forth in Section 2.05(a) above as if such Borrowing were a new Borrowing; provided that (i) in no event may any Interest Period so selected end on a date after the Maturity Date, and (ii) if the Borrower shall fail to give notice of a new Interest Period for such a Revolving Credit Borrowing prior to the end of the Interest Period in effect for such Borrowing, then (a) in the case of a Borrowing in dollars, the Borrower shall be deemed to have given notice of an election to refinance such Borrowing with an ABR Borrowing (unless such Borrowing is repaid at the end of such Interest Period) and (b) in the case of a Borrowing in an Alternate Currency, such Borrowing shall be due and payable at the end of such Interest Period." "SECTION 2.07.

Appears in 1 contract

Samples: Dentsply International Inc /De/

Revolving Credit Borrowing Procedure. In order to effect a Revolving Credit Borrowing, the Borrower or any Subsidiary Borrower shall hand deliver or telecopy to the Administrative Agent a Borrowing notice in the form of Exhibit F (a) in the case of a LIBOR Borrowing, not later than 12:00 (noon)Noon, New York City time, three Business Days before a proposed Borrowing, and (b) in the case of an ABR Borrowing, not later than 12:00 (noon)Noon, New York City time, on the day of a proposed Borrowing. No Fixed Rate Competitive Loan shall be requested or made pursuant to a Revolving Credit Borrowing Request. Such notice shall be irrevocable and shall in each case specify (a) whether the Borrowing then being requested is to be a LIBOR Borrowing or an ABR Borrowing, (b) the date of such Revolving Credit Borrowing (which shall be a Business Day) and the amount thereof and (c) if such Borrowing is to be a LIBOR Borrowing, the Currency and the Interest Period with respect thereto. If no election as to the Interest Rate Type of a Revolving Credit Borrowing is specified in any such notice, then the requested Revolving Credit Borrowing shall be an ABR Borrowing. If no Currency with respect to any LIBOR Borrowing is specified in any such notice, then the Borrower or the relevant Subsidiary Borrower shall be deemed to have requested a borrowing in Dollars. If no Interest Period with respect to any LIBOR Borrowing is specified in any such notice, then the Borrower or the relevant Subsidiary Borrower shall be deemed to have selected an Interest Period of one month's ’s duration. If the Borrower or the relevant Subsidiary Borrower shall not have given notice in accordance with this Section 2.5 2.6 of its election to refinance a Revolving Credit Borrowing prior to the end of the Interest Period in effect for such Borrowing, then the Borrower or the relevant Subsidiary Borrower shall (unless such Borrowing is repaid at the end of such Interest Period) be deemed to have given notice of an election to refinance such Borrowing with an ABR Borrowing. The Administrative Agent shall promptly advise the Lenders of any notice given pursuant to this Section 2.5 2.6 and of each Lender's ’s portion of the requested Borrowing.

Appears in 1 contract

Samples: Credit Agreement (Cendant Corp)

Revolving Credit Borrowing Procedure. In order to effect a Revolving Credit Borrowing, the Borrower shall hand deliver or telecopy to the Administrative Agent a Borrowing notice in the form of Exhibit F A-5 (a) in the case of a LIBOR Revolving Credit Borrowing, not later than 12:00 (noon), New York City time, three Business Days before a 190 proposed Borrowing, and (b) in the case of an ABR Borrowing, not later than 12:00 (noon)10:00 a.m., New York City time, on the day of a proposed Borrowing. No Fixed Rate Loan shall be requested or made pursuant to a Revolving Credit Borrowing Request. Such notice shall be irrevocable and shall in each case specify (a) whether the Borrowing then being requested is to be a LIBOR Revolving Credit Borrowing or an ABR Borrowing, (b) whether such Borrowing is to be in Dollars or an Alternate Currency (and if in an Alternate Currency, such Alternate Currency), (c) the date of such Revolving Credit Borrowing (which shall be a Business Day) and the amount thereof and (cd) if such Borrowing is to be a LIBOR Revolving Credit Borrowing, the Interest Period with respect thereto. If no election as to the Interest Rate Type of a Revolving Credit Borrowing is specified in any such notice, then the requested Revolving Credit Borrowing shall be an ABR Borrowing. If no Interest Period with respect to any LIBOR Revolving Credit Borrowing is specified in any such notice, then the Borrower shall be deemed to have selected an Interest Period of one month's duration. If the Borrower shall not have given notice in accordance with this Section 2.5 2.05 of its election to refinance a Revolving Credit Borrowing prior to the end of the Interest Period in effect for such Borrowing, then (a) in the case of a Borrowing in Dollars, the Borrower shall (unless such Borrowing is repaid at the end of such Interest Period) be deemed to have given notice of an election to refinance such Borrowing with an ABR BorrowingBorrowing and (b) in the case of a Borrowing in an Alternate Currency, such Borrowing shall be due and payable at the end of such Interest Period. The Administrative Agent shall promptly advise the Lenders Banks of any notice given pursuant to this Section 2.5 2.05 and of each LenderBank's portion of the requested Borrowing.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Dentsply International Inc /De/)

Revolving Credit Borrowing Procedure. In order to effect a Revolving Credit Borrowing, the Borrower shall hand deliver or telecopy to the Administrative Agent a Borrowing notice in the form of Exhibit F (a) in the case of a Borrowing of a LIBOR BorrowingRevolving Credit Loan, not later than 12:00 (noon)2:00 p.m., New York City time, three Business Working Days before a proposed Borrowing, and (b) in the case of an ABR Borrowing, not later than 12:00 (noon)2:00 p.m., New York City time, on the day of a proposed Borrowing. No Fixed Rate Loan or LIBOR Competitive Loan shall be requested or made pursuant to a Revolving Credit Borrowing Request. Such notice shall be irrevocable and shall in each case specify (a) whether the Borrowing then being requested is to be a Borrowing of a LIBOR Borrowing Revolving Credit Loan or an ABR Borrowing, (b) the date of such Revolving Credit Borrowing (which shall be a Business Working Day) and the amount thereof and (c) if such Borrowing is to be a Borrowing of LIBOR BorrowingRevolving Credit Loans, the Interest Period with respect thereto. If no election as to the Interest Rate Type of a Revolving Credit Borrowing is specified in any such notice, then the requested Revolving Credit Borrowing shall be an ABR Borrowing. If no Interest Period with respect to any Borrowing of LIBOR Borrowing Revolving Credit Loans is specified in any such notice, then the Borrower shall be deemed to have selected an Interest Period of one month's duration. If the Borrower shall not have given notice in accordance with this Section 2.5 of its election to refinance a Revolving Credit Borrowing prior to the end of the Interest Period in effect for such Borrowing, then the Borrower shall (unless such Borrowing is repaid at the end of such Interest Period) be deemed to have given notice of an election to refinance such Borrowing with an ABR Borrowing. The Administrative Agent shall promptly advise the Lenders of any notice given pursuant to this Section 2.5 and of each such Lender's portion of the requested Revolving Credit Borrowing.

Appears in 1 contract

Samples: Credit Agreement (Cendant Corp)

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