Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower may from time to time prior to the Expiration Date request the Lenders to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 a.m., (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Rate Option applies or the conversion to or the renewal of the LIBOR Rate Option for any Loans; and (ii) the same Business Day of the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 or a request by telephone immediately confirmed in writing in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “Loan Request”); it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate amount of the proposed Loans comprising each Borrowing Tranche, which amount shall be in (x) an integral multiple of $1,000,000 and not less than $5,000,000 for each Borrowing Tranche under the LIBOR Rate Option and (y) an integral multiple of $50,000 and not less than the lesser of $500,000 or the maximum amount available for Borrowing Tranches to which the Base Rate Option applies; (iii) whether the LIBOR Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; and (iv) in the case of a Borrowing Tranche to which the LIBOR Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing Tranche.
Appears in 7 contracts
Samples: Revolving Credit Facility (CNX Resources Corp), Revolving Credit Facility (CNX Resources Corp), Credit Agreement (CNX Resources Corp)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower may from time to time prior to the Expiration Date request the Lenders to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 a.m.1:00 p.m., (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Rate Option applies or the conversion to or the renewal of the LIBOR Rate Option for any Loans; and (ii) the same Business Day of the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 2.4.1 or a request by telephone immediately promptly confirmed in writing by letter, facsimile or telex in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “Loan Request”); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate amount of the proposed Loans comprising each Borrowing Tranche, and, if applicable, the Interest Period, which amount amounts shall be in (x) an integral multiple multiples of $1,000,000 500,000 and not less than $5,000,000 1,000,000 for each Borrowing Tranche under the LIBOR Rate Option Option, and (y) an integral multiple multiples of $50,000 500,000 and not less than the lesser of $500,000 or the maximum amount available for each Borrowing Tranches to which Tranche under the Base Rate Option applies; (iii) whether the LIBOR Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; and (iv) in the case of a Borrowing Tranche to which the LIBOR Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing TrancheOption.
Appears in 4 contracts
Samples: Credit Agreement (Crocs, Inc.), Credit Agreement (Crocs, Inc.), Credit Agreement (Crocs, Inc.)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to TGI, on behalf of the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower Borrowers may from time to time prior to the Expiration Date request the Lenders Banks to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans or Term Loans pursuant to Section 4.2 [Interest Periods]4.3, by delivering to the Administrative Agent, not later than 11:00 a.m., (i) 2:00 p.m., Pittsburgh time, three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Euro-Rate Option applies or the date of conversion to or the renewal of the LIBOR Euro-Rate Option for any such Loans; and (ii) the same Business Day of 10:30 a.m., Pittsburgh time on either the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any LoanLoan to which the Euro-Rate Option applies, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 2.4 or a request by telephone immediately confirmed in writing by letter, or facsimile in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “Loan Request”); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate amount of the proposed Loans comprising each Borrowing Tranche, the amount of which amount shall be in (x) an integral multiple multiples of $1,000,000 500,000 and not less than $5,000,000 2,000,000 for each Borrowing Tranche under to which the LIBOR Euro-Rate Option and (y) an integral multiple of $50,000 applies and not less than the lesser of $500,000 200,000 or the maximum amount available for Borrowing Tranches to which the Base Rate Option applies; (iii) whether the LIBOR Euro-Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; and (iv) in the case of a Borrowing Tranche to which the LIBOR Euro-Rate Option applies, an appropriate Interest Period for the proposed Loans comprising such Borrowing Tranche. If TGI (i) fails to specify an interest rate option to be applicable to a Borrowing Tranche of Loans, the Borrowers shall be deemed to have requested the Base Rate Option with respect to such Borrowing Tranche, or (ii) elects the Euro-Rate option but fails to specify an Interest Period to apply to the applicable Loans, such Interest Period shall be one (1) month.
Appears in 4 contracts
Samples: Credit Agreement (Triumph Group Inc), Credit Agreement (Triumph Group Inc), Credit Agreement (Triumph Group Inc)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower may from time to time prior to the Expiration Date request the Lenders to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 [Interest Periods], by delivering to the Administrative Agent, Agent (i) not later than 11:00 a.m.1:00 p.m., (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Term SOFR Rate Option applies or the conversion to or the renewal of the LIBOR Term SOFR Rate Option for any Loans; and (ii) not later than 1:00 p.m., the same Business Day of the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 2.4 or a request by telephone immediately confirmed in writing by letter, facsimile or electronic mail in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “Loan Request”); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation, provided such individual purports to be an Authorized Officer. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate amount of the proposed Revolving Credit Loans comprising each Borrowing Tranche, the amount of which amount shall be in (x) an integral multiple multiples of $1,000,000 and not less than $5,000,000 3,000,000 for each Borrowing Tranche under to which the LIBOR Term SOFR Rate Option and (y) an integral multiple of $50,000 applies and not less than the lesser of $500,000 1,000,000 and in integral multiples of $100,000 or the maximum amount available for Borrowing Tranches to which the Base Rate Option applies; (iii) whether the LIBOR Term SOFR Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; and (iv) in the case of a Borrowing Tranche to which the LIBOR Term SOFR Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing Tranche.
Appears in 4 contracts
Samples: Credit Agreement (New Jersey Resources Corp), Credit Agreement (New Jersey Resources Corp), Credit Agreement (New Jersey Resources Corp)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower may from time to time prior to the Expiration Revolving Maturity Date request the Lenders to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 a.m., (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Rate Option applies or the conversion to or the renewal of the LIBOR Rate Option for any Loans; and (ii) the same Business Day of the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 or a request by telephone immediately confirmed in writing in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “Loan Request”); it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate amount of the proposed Loans comprising each Borrowing Tranche, which amount shall be in (x) an integral multiple of $1,000,000 and not less than $5,000,000 for each Borrowing Tranche under the LIBOR Rate Option and (y) an integral multiple of $50,000 and not less than the lesser of $500,000 or the maximum amount available for Borrowing Tranches to which the Base Rate Option applies; (iii) whether the LIBOR Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; and (iv) in the case of a Borrowing Tranche to which the LIBOR Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing Tranche.
Appears in 4 contracts
Samples: Revolving Credit Facility, Revolving Credit Facility (CNX Coal Resources LP), Revolving Credit Facility (CNX Coal Resources LP)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower may from time to time prior to the Expiration Date request the Lenders to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 a.m.12:00 noon, Pittsburgh time, (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Euro-Rate Option applies or the conversion to or the renewal of the LIBOR Euro-Rate Option for any such Loans; and (ii) the same Business Day of on either the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any such Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 or a request by telephone immediately confirmed in writing by letter, facsimile or telex in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “Loan Request”); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each such Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate amount of the proposed Loans comprising each Borrowing Tranche, which amount shall be in (x) an integral multiple multiples of $1,000,000 500,000 and not less than $5,000,000 1,000,000 for each Borrowing Tranche under to which the LIBOR Euro-Rate Option and (y) an integral multiple of $50,000 applies and not less than the lesser of $500,000 100,000 or the maximum amount available for Borrowing Tranches to which the Base Rate Option applies; (iii) whether the LIBOR Euro-Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; and (iv) in the case of a Borrowing Tranche to which the LIBOR Euro-Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing Tranche.
Appears in 3 contracts
Samples: Credit Agreement (Koppers Holdings Inc.), Credit Agreement (Koppers Holdings Inc.), Credit Agreement (Koppers Inc)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower may from time to time prior to the Expiration Date request the Lenders to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 10:00 a.m., (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Rate Option applies or the conversion to or the renewal of the LIBOR Rate Option for any Loans; and (ii) the same Business Day of the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 or a request by telephone immediately confirmed in writing by letter, e-mail, facsimile or telex in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “"Loan Request”"); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate amount of the proposed Loans comprising each Borrowing Tranche, and, if applicable, the Interest Period, which amount amounts shall be in (x) an integral multiple multiples of $1,000,000 and not less than $5,000,000 for each Borrowing Tranche under the LIBOR Rate Option and (y) an in integral multiple multiples of $50,000 1,000,000 and not less than the lesser of $500,000 5,000,000 or the maximum amount available for Borrowing Tranches to which under the Base Rate Option applies; (iii) whether the LIBOR Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; and (iv) in the case of a Borrowing Tranche to which the LIBOR Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing TrancheOption.
Appears in 3 contracts
Samples: Credit Agreement (Nacco Industries Inc), Revolving Credit Facility (Nacco Industries Inc), Revolving Credit Facility (Nacco Industries Inc)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower Borrowers may from time to time prior to the Expiration Final Maturity Date request the Lenders to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans or Term Loans pursuant to Section 4.2 2.11 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 a.m.2:00 p.m., (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans in Dollars to which the LIBOR Euro-Rate Option applies or the conversion to or the renewal of the LIBOR Euro-Rate Option for any LoansLoans in Dollars; (ii) not later than 2:00 p.m., (a) four (4) Business Days prior to the proposed Borrowing Date with respect to the making of Optional Currency Loans or the date of conversion to or renewal of the Euro-Rate Option for any Optional Currency Loan, and (iib) the same Business Day of the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 written notice thereof or a request by telephone immediately confirmed in writing by letter, facsimile or telex in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “Loan Request”); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable irrevocable, except as otherwise agreed by the Administrative Agent, and shall specify or certify, as applicable (i) the proposed Borrowing Date; (iiA) the aggregate amount of the proposed Loans comprising each Borrowing Tranche, and, if applicable, the Interest Period, which amount shall be in (x) an integral multiple the minimum amount of $1,000,000 and not less than $5,000,000 (or the Dollar Equivalent thereof) for each Borrowing Tranche under the LIBOR Rate Option and Tranche, (yB) an integral multiple of $50,000 and not less than the lesser of $500,000 or the maximum amount available for Borrowing Tranches to which the Base Rate Option applies; (iii) whether the LIBOR Rate Option or Base Interest Rate Option shall apply to the proposed Dollar denominated Loans comprising the applicable Borrowing Tranche; , (C) the currency in which such Revolving Credit Loans shall be funded if the Borrower elects an Optional Currency, (D) the applicable Interest Rate Option, and (ivE) in the case of a Borrowing Tranche to which the LIBOR Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing TranchePeriod, if applicable.
Appears in 3 contracts
Samples: Credit Agreement (Funko, Inc.), Credit Agreement (Funko, Inc.), Credit Agreement (Funko, Inc.)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to TGI, on behalf of the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower Borrowers may from time to time prior to the Expiration Date request the Lenders Banks to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans or Term Loans pursuant to Section 4.2 [Interest Periods]4.3, by delivering to the Administrative Agent, not later than 11:00 a.m., (i) 2:00 p.m., Pittsburgh time, three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Euro-Rate Option applies or the date of conversion to or the renewal of the LIBOR Euro-Rate Option for any such Loans; and (ii) the same Business Day of 10:30 a.m., Pittsburgh time on either the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any LoanLoan to which the Euro-Rate Option applies, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 2.4 or a request by telephone immediately confirmed in writing by letter, or facsimile in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “"Loan Request”"); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate amount of the proposed Loans comprising each Borrowing Tranche, the amount of which amount shall be in (x) an integral multiple multiples of $1,000,000 500,000 and not less than $5,000,000 2,000,000 for each Borrowing Tranche under to which the LIBOR Euro-Rate Option and (y) an integral multiple of $50,000 applies and not less than the lesser of $500,000 200,000 or the maximum amount available for Borrowing Tranches to which the Base Rate Option applies; (iii) whether the LIBOR Euro-Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; and (iv) in the case of a Borrowing Tranche to which the LIBOR Euro-Rate Option applies, an appropriate Interest Period for the proposed Loans comprising such Borrowing Tranche. If TGI (i) fails to specify an interest rate option to be applicable to a Borrowing Tranche of Loans, the Borrowers shall be deemed to have requested the Base Rate Option with respect to such Borrowing Tranche, or (ii) elects the Euro-Rate option but fails to specify an Interest Period to apply to the applicable Loans, such Interest Period shall be one (1) month.
Appears in 3 contracts
Samples: Credit Agreement (Triumph Group Inc), Credit Agreement (Triumph Group Inc), Credit Agreement (Triumph Group Inc)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower may from time to time prior to the Expiration Date request the Lenders to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 a.m., (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Rate Option applies or the conversion to or the renewal of the LIBOR Rate Option for any Loans; and (ii) the same Business Day of the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 or a request by telephone immediately confirmed in writing in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “Loan Request”); it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate amount of the proposed Loans comprising each Borrowing Tranche, which amount shall be in (x) an integral multiple of $1,000,000 and not less than $5,000,000 for each Borrowing Tranche under the LIBOR Rate Option and (y) an integral multiple of $50,000 and not less than the lesser of $500,000 or the maximum amount available for Borrowing Tranches to which the Base Rate Option applies; (iii) whether the LIBOR Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; and (iv) in the case of a Borrowing Tranche to which the LIBOR Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing Tranche.
Appears in 3 contracts
Samples: Credit Agreement (CNX Resources Corp), Credit Agreement (CONSOL Energy Inc), Revolving Credit Facility (CONSOL Energy Inc)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower Borrowing Agent may from time to time prior to the Expiration Date request the Revolver Lenders to make Revolving Credit LoansLoans for the account of the Revolving Borrowers, or, for the account of the Revolver Borrowers or Term Borrowers, as applicable, renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans or Term Loans, as applicable, pursuant to Section 4.2 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 a.m., (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Rate Option applies or the conversion to or the renewal of the LIBOR Rate Option for any Loans; and (ii) the same Business Day of the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 or a request by telephone immediately confirmed in writing by letter, facsimile or telex in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “Loan Request”); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate amount of the proposed Loans comprising each Borrowing Tranche, and, if applicable, the Interest Period, which amount amounts shall be in (x) an in integral multiple multiples of $1,000,000 500,000 and not less than $5,000,000 1,000,000 for each Borrowing Tranche under the LIBOR Rate Option Option, and (y) an integral multiple of $50,000 and not less than the lesser of $500,000 100,000 or the maximum amount available for each Borrowing Tranches to which Tranche under the Base Rate Option applies; (iii) whether the LIBOR Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; and (iv) in the case of a Borrowing Tranche to which the LIBOR Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing TrancheOption.
Appears in 3 contracts
Samples: Credit Agreement (Armstrong Resource Partners, L.P.), Credit Agreement (Armstrong Energy, Inc.), Credit Agreement (Armstrong Energy, Inc.)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the a Borrower may from time to time prior to the Expiration Date request the Lenders Banks to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 3.2 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 a.m.12:00 noon, Pittsburgh time, (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Euro-Rate Option applies or the conversion to or the renewal of the LIBOR Euro-Rate Option for any Loans; and (ii) the same Business Day of as either the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 2.4.1 or a request by telephone immediately confirmed in writing by letter, facsimile or telex in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “Loan Request”); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate amount of the proposed Loans comprising each Borrowing Tranche, which amount shall be in (x) an integral multiple multiples of $1,000,000 500,000 and not less than $5,000,000 2,000,000 for each Borrowing Tranche under to which the LIBOR Euro-Rate Option and (y) an integral multiple of $50,000 applies and not less than the lesser of $500,000 1,000,000 or the maximum amount available for Borrowing Tranches to which the Base Rate Option applies; (iii) whether the LIBOR Euro-Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; and (iv) in the case of a Borrowing Tranche to which the LIBOR Euro-Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing Tranche.
Appears in 3 contracts
Samples: Credit Agreement (Super Test Petroleum Inc), Credit Agreement (Vulcan Asphalt Refining Corp), Credit Agreement (Independent Gasoline & Oil Co of Rochester)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to TGI, on behalf of the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower Borrowers may from time to time prior to the Expiration Date request the Lenders Banks to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 [Interest Periods]3.2, by delivering to the Administrative Agent, not later than 11:00 a.m., (i) 2:00 p.m., Pittsburgh time, three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans in Dollars to which the LIBOR Euro-Rate Option applies or the date of conversion to or the renewal of the LIBOR Euro-Rate Option for any Loanssuch Loans and four (4) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans in an Optional Currency or the date of conversion to or renewal of the Euro-Rate Option for Revolving Credit Loans in an Optional Currency; and (ii) the same Business Day of 10:30 a.m., Pittsburgh time on either the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any LoanRevolving Credit Loan to which the Euro-Rate Option applies, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 2.4 or a request by telephone immediately confirmed in writing by letter, or facsimile in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “Loan Request”); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Revolving Credit Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate amount of the proposed Revolving Credit Loans (expressed in the currency in which such Loans shall be funded) comprising each Borrowing Tranche, the Dollar Equivalent amount of which amount shall be in (x) an integral multiple multiples of $1,000,000 500,000 and not less than $5,000,000 2,000,000 for each Borrowing Tranche under to which the LIBOR Euro-Rate Option and (y) an integral multiple of $50,000 applies and not less than the lesser of $500,000 200,000 or the maximum amount available for Borrowing Tranches to which the Base Rate Option applies; (iii) whether the LIBOR Euro-Rate Option or Base Rate Option shall apply to the proposed Revolving Credit Loans comprising the applicable Borrowing Tranche; and (iv) the currency in which such Loans shall be funded if the Borrowers are electing the Euro-Rate Option; and (v) in the case of a Borrowing Tranche to which the LIBOR Euro-Rate Option applies, an appropriate Interest Period for the proposed Revolving Credit Loans comprising such Borrowing Tranche. If TGI (i) fails to specify an interest rate option to be applicable to a Borrowing Tranche of Loans, the Borrowers shall be deemed to have requested the Base Rate Option with respect to such Borrowing Tranche, or (ii) elects the Euro-Rate option but fails to specify an Interest Period to apply to the applicable Revolving Credit Loans, such Interest Period shall be 1 month.
Appears in 3 contracts
Samples: Revolving Credit Facility (Triumph Group Inc), Revolving Credit Facility (Triumph Group Inc), Credit Agreement (Triumph Group Inc /)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower Borrowers may from time to time prior to the Expiration Date request the Lenders to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 3.2 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 a.m.1:00 p.m., (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Rate Option or BA Rate Option applies or the conversion to or the renewal of the LIBOR Rate Option or BA Rate Option for any Loans; and (ii) the same Business Day of the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option or the Canadian Prime Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option or the Canadian Prime Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 (or, with respect to the Canadian Borrower, in such other form as is reasonably acceptable to the Administrative Agent) or a request by telephone immediately confirmed in writing by letter, facsimile or telex in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “Loan Request”); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate amount of the proposed Loans comprising each Borrowing Tranche, and, if applicable, the Interest Period, which amount amounts shall be in (x) an integral multiple multiples of $1,000,000 500,000 and not less than $5,000,000 1,000,000 for each Borrowing Tranche under the LIBOR Rate Option and (y) an integral multiple multiples of $50,000 CD$500,000 and not less than CD$1,000,000 for each Borrowing Tranche under the lesser BA Rate Option, and (y) integral multiples of $100,000 and not less than $500,000 or the maximum amount available for each Borrowing Tranches to which Tranche under the Base Rate Option applies; (iii) whether the LIBOR Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; integral multiples of CD$100,000 and (iv) in the case of a not less than CD$500,000 for each Borrowing Tranche to which under the LIBOR Canadian Prime Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing TrancheOption.
Appears in 2 contracts
Samples: Revolving Credit Facility (Retail Ventures Inc), Revolving Credit Facility (DSW Inc.)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower may from time to time prior to the Expiration Date request the Lenders to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 a.m., (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Rate Option applies or the conversion to or the renewal of the LIBOR Rate Option for any Loans; and (ii) the same Business Day of the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 or a request by telephone immediately confirmed in writing by letter, facsimile or telex in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “Loan Request”); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate amount of the proposed Loans comprising each Borrowing Tranche, which amount shall be in (x) an integral multiple of $1,000,000 and not less than $5,000,000 for each Borrowing Tranche under the LIBOR Rate Option Option, and (y) an integral multiple of $50,000 and not less than the lesser of $500,000 or the maximum amount available for Borrowing Tranches to which the Base Rate Option applies; (iii) whether the LIBOR Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; and (iv) in the case of a Borrowing Tranche to which the LIBOR Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing Tranche.
Appears in 2 contracts
Samples: Credit Agreement (CONSOL Energy Inc), Revolving Credit Facility (CONSOL Energy Inc)
Revolving Credit Loan Requests. Except as otherwise provided herein, herein (and subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof4.6 [Selection of Interest Rate Options]), the Borrower may from time to time prior to the Expiration Date request the Lenders to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 4.3 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 10:00 a.m., (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Rate Option applies or the conversion to or the renewal of the LIBOR Rate Option for any Loans; and (ii) the same one (1) Business Day of prior to either the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 or a request by telephone immediately confirmed in writing by letter, facsimile or telex in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “"Loan Request”"); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate amount of the proposed Loans comprising each Borrowing Tranche, and, if applicable, the Interest Period, which amount amounts shall be in (x) an integral multiple multiples of $1,000,000 500,000 and not less than $5,000,000 1,000,000 for each Borrowing Tranche under the LIBOR Rate Option and (y) an in integral multiple multiples of $50,000 100,000 and not less than the lesser of $500,000 or the maximum amount available for Borrowing Tranches to which under the Base Rate Option applies; (iii) whether the LIBOR Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; and (iv) in the case of a Borrowing Tranche to which the LIBOR Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing TrancheOption.
Appears in 2 contracts
Samples: Credit Agreement (Hallador Energy Co), Credit Agreement (Hallador Energy Co)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower Borrowers may from time to time prior to the Expiration Date request the Lenders to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 a.m.1:00 p.m., (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Rate Option applies or the conversion to or the renewal of the LIBOR Rate Option for any Loans; and (ii) the same Business Day of the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 or a request by telephone immediately confirmed in writing by letter, facsimile or telex in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “"Loan Request”"); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate amount of the proposed Loans comprising each Borrowing Tranche, and, if applicable, the Interest Period, which amount amounts shall be in (x) an integral multiple multiples of $1,000,000 500,000 and not less than $5,000,000 1,000,000 for each Borrowing Tranche under the LIBOR Rate Option Option, and (y) an integral multiple multiples of $50,000 100,000 and not less than the lesser of $500,000 or the maximum amount available for each Borrowing Tranches to which Tranche under the Base Rate Option applies; (iii) whether the LIBOR Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; and (iv) in the case of a Borrowing Tranche to which the LIBOR Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing TrancheOption.
Appears in 2 contracts
Samples: Credit Agreement (Johnson Outdoors Inc), Credit Agreement (Johnson Outdoors Inc)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower Borrowers may from time to time prior to the Expiration Date request the Lenders to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 [Interest Periods]3.2, by delivering to the Administrative Agent, not later than 11:00 10:30 a.m., Pittsburgh time, (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans in Dollars to which the LIBOR Euro-Rate Option applies or the conversion to or the renewal of the LIBOR Euro-Rate Option for any Loans; such Loans and four (4) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans in an Optional Currency or the date of conversion to or renewal of the Euro-Rate Option for Revolving Credit Loans in an Optional Currency and (ii) the same Business Day of on either the proposed Borrowing Date (which shall be a Business Day) with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 EXHIBIT 2.4 or a request by telephone immediately confirmed in writing by letter, facsimile or telex in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “Loan Request”"LOAN REQUEST"); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate amount of the proposed Loans (expressed in the currency in which such Loans shall be funded) comprising each Borrowing Tranche, the Dollar Equivalent amount of which amount shall be in (x) an integral multiple multiples of $1,000,000 100,000.00 and not less than $5,000,000 2,000,000.00 for each Borrowing Tranche under to which the LIBOR Euro-Rate Option and (y) an integral multiple of $50,000 applies and not less than the lesser of $500,000 or 2,000,000.00 and the maximum amount available for Borrowing Tranches to which the Base Rate Option applies; (iii) whether the LIBOR Euro-Rate Option or Base Rate Option shall apply to the proposed Revolving Credit Loans comprising the applicable Borrowing Tranche; (iv) the currency in which such Loans shall be funded if the Borrower is electing the Euro-Rate Option; and (ivv) in the case of a Borrowing Tranche to which the LIBOR Euro-Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing Tranche.
Appears in 2 contracts
Samples: Revolving Credit Facility (Glatfelter P H Co), Revolving Credit Facility (Glatfelter P H Co)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and Administrative Borrower, on behalf of the other terms and conditions hereofBorrowers, the Borrower may from time to time prior to the Expiration Date request the Lenders to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans or Term Loans pursuant to Section 4.2 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 a.m.12:00 p.m. Eastern time, (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Rate Option applies or the conversion to or the renewal of the LIBOR Rate Option for any Loans; and (ii) the same Business Day of the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 or a request by telephone immediately promptly confirmed in writing by letter, facsimile, electronic mail or telex in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “Loan Request”); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. If no election is received with respect to the conversion to or the renewal of the LIBOR Rate Option for any Loans by 12:00 p.m. Eastern time three (3) Business Days prior to the end of the Interest Period with respect thereto, such Loan shall be converted to the Base Rate Option. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate amount of the proposed Loans comprising each Borrowing Tranche, and, if applicable, the Interest Period, which amount amounts shall be in (x) an integral multiple multiples of $1,000,000 100,000 and not less than $5,000,000 1,000,000 for each Borrowing Tranche under the LIBOR Rate Option Option, and (y) an integral multiple multiples of $50,000 100,000 and not less than the lesser of $500,000 or the maximum amount available 1,000,000 for each Borrowing Tranches to which Tranche under the Base Rate Option applies; (iii) whether the LIBOR Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; and (iv) in the case of a Borrowing Tranche to which the LIBOR Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing TrancheOption.
Appears in 2 contracts
Samples: Credit Agreement (DLH Holdings Corp.), Credit Agreement (DLH Holdings Corp.)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject (a) Requests for loans and advances under the Revolving Credit or for the continuance or conversion of an interest rate applicable to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, a Revolving Credit Loan may be requested by the Borrower in the form attached as EXHIBIT C or in such other manner as may from time to time prior be acceptable to the Expiration Date request the Lenders to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 a.m., Agent (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Rate Option applies or the conversion to or the renewal of the LIBOR Rate Option for any Loans; and (ii) the same Business Day of the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 or a request by telephone immediately confirmed in writing in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, each a “Loan Request”); it being understood .
(b) Subject to the provisions of this Agreement, the Borrower may request a Revolving Credit Loan and elect an interest rate and Interest Period to be applicable to that Revolving Credit Loan by giving notice to the Agent by no later than the following:
(i) If such Revolving Credit Loan is to be or is to be converted to a Base Margin Loan: By 1:00PM on the Business Day on which the subject Revolving Credit Loan is to be made or is to be so converted. Base Margin Loans requested by the Borrower, other than those resulting from the conversion of a LIBOR Loan, shall not be less than $10,000.
(ii) If such Revolving Credit Loan is to be, or is to be continued as, or converted to, a LIBOR Loan: By 10:30AM Two (2) LIBOR Business Days before the commencement of any new Interest Period or the end of the then applicable Interest Period. LIBOR Loans and conversions to LIBOR Loans shall each be not less than $1,000,000 and in increments of $100,000 in excess of such minimum.
(iii) Any LIBOR Loan which matures while the Borrower is In Default shall be converted, at the option of the Agent, to a Base Margin Loan notwithstanding any notice from the Borrower that such Loan is to be continued as a LIBOR Loan.
(c) Any request for a Revolving Credit Loan or for the continuance or conversion of an interest rate applicable to a Revolving Credit Loan which is made after the applicable deadline therefor, as set forth above, shall be deemed to have been made at the opening of business on the then next Business Day or LIBOR Business Day, as applicable.
(d) The Borrower may request that the Administrative Agent cause the issuance by the Issuer of L/Cs for the account of the Borrower as provided in Section 2.18.
(e) The Agent may rely on any request for a loan or advance, or other financial accommodation under the Revolving Credit which the Agent, in good faith, believes to have been made by a Person duly authorized to act on behalf of the Borrower and may decline to make any such requested loan or advance, or issuance, or to provide any such financial accommodation pending the Agent’s being furnished with such documentation concerning that Person’s authority of any individual making such to act as may be satisfactory to the Agent.
(f) A request by the Borrower for a telephonic request without loan or advance, or other financial accommodation under the necessity of receipt of such written confirmation. Each Loan Request Revolving Credit shall be irrevocable and shall specify or certifyconstitute certification by the Borrower that as of the date of such request, as applicable each of the following is true and correct:
(i) There has been no material adverse change in the proposed Borrowing Date; Borrower’s financial condition from the most recent financial information furnished Agent or any Revolving Credit Lender pursuant to this Agreement.
(ii) To the aggregate amount extent necessary, all or a portion of any loan or advance so requested will be set aside by the proposed Loans comprising each Borrowing Tranche, which amount shall be in (x) an integral multiple Borrower to cover the Borrower’s obligations for sales tax on account of $1,000,000 and not less than $5,000,000 for each Borrowing Tranche under sales since the LIBOR Rate Option and (y) an integral multiple of $50,000 and not less than then most recent borrowing pursuant to the lesser of $500,000 or the maximum amount available for Borrowing Tranches to which the Base Rate Option applies; Revolving Credit.
(iii) whether Each representation which is made herein or in any of the LIBOR Rate Option or Base Rate Option shall apply Loan Documents was true in all material respects as of the date as of which they were made and each of the representations and warranties contained in this Agreement are true in all material respects, with the same effect as if made at and as of the date of such request (except to the proposed Loans comprising extent of changes resulting from transactions contemplated or permitted by this Agreement and the applicable Borrowing Tranche; other Loan Documents and changes occurring in the ordinary course of business that singly or in the aggregate are not materially adverse, and to the extent that such representations and warranties relate expressly to an earlier date).
(iv) Unless accompanied by a written Certificate of the Borrower’s President or its Chief Financial Officer describing (in reasonable detail) the case facts and circumstances thereof and the steps (if any) being taken to remedy such condition, that the Borrower is not In Default.
(g) If, at any time or from time to time, the Borrower is In Default:
(i) The Agent may suspend the Revolving Credit immediately, in which event, neither the Agent nor any Lender shall be obligated, during such suspension, to make any loan or advance, or to provide any financial accommodation hereunder or to seek the issuance of any L/C.
(ii) The Agent may suspend the right of the Borrower to request any LIBOR Loan or to convert any Base Margin Loan to a Borrowing Tranche to which the LIBOR Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing TrancheLoan.
Appears in 2 contracts
Samples: Loan and Security Agreement (Gander Mountain Co), Loan and Security Agreement (Gander Mountain Co)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower may from time to time prior to the Expiration Date request the Lenders to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 [Interest Periods], by delivering to the Administrative Paying Agent, not no later than (i) 11:00 a.m., (i) Pittsburgh time, three (3) Business Days prior to to: (A) the proposed Borrowing Date with respect to the making of Revolving Credit Loans or the renewal of Revolving Credit Loans to which the LIBOR Euro-Rate Option applies or (B) the date of the conversion to or the renewal of the LIBOR Euro-Rate Option for any Revolving Credit Loans; and (ii) the same Business Day of 10:00 a.m., Pittsburgh time, on either the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 or a request by telephone immediately confirmed in writing by letter, facsimile or telex in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “Loan Request”); , it being understood that the Administrative Paying Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing DateDate or the proposed interest conversion date; (ii) the aggregate amount of the proposed Loans comprising each Borrowing Tranche, which amount shall be in (x) an integral multiple multiples of $1,000,000 and not less than $5,000,000 for each Borrowing Tranche under to which the LIBOR Euro-Rate Option and (y) an integral multiple of $50,000 applies and not less than the lesser of $500,000 or the maximum amount available for Borrowing Tranches to which the Base Rate Option applies; (iii) whether the LIBOR Euro-Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; and (iv) in the case of a Borrowing Tranche to which the LIBOR Euro-Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing Tranche.
Appears in 2 contracts
Samples: Credit Agreement (Consol Energy Inc), Revolving Credit Facility (Consol Energy Inc)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower may from time to time prior to the Expiration Date request the Lenders Banks to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 10:00 a.m., Pittsburgh time, (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Euro-Rate Option applies or the conversion to or the renewal of the LIBOR Euro-Rate Option for any Loans; and (ii) the same one (1) Business Day of prior to either the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 or a request by telephone immediately confirmed in writing by letter, facsimile or telex in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “Loan Request”); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate amount of the proposed Loans comprising each Borrowing Tranche, which amount shall be in (x) an integral multiple multiples of $1,000,000 500,000 and not less than $5,000,000 500,000 for each Borrowing Tranche under to which the LIBOR Euro-Rate Option and (y) an integral multiple of $50,000 applies and not less than the lesser of $500,000 or the maximum amount available for Borrowing Tranches to which the Base Rate Option applies; (iii) whether the LIBOR Euro-Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; and (iv) in the case of a Borrowing Tranche to which the LIBOR Euro-Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing Tranche.
Appears in 2 contracts
Samples: Revolving Credit Facility (Ii-Vi Inc), Revolving Credit Facility (Ii-Vi Inc)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower Agent, on behalf of itself or a Borrower identified in the Loan Request (as hereinafter defined), may from time to time prior to the Expiration Date request the Lenders to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 [Interest Periods], by delivering to the Administrative Agent, (i) not later than 11:00 a.m.1:00 p.m., (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans in Dollars to which the LIBOR Euro-Rate Option applies or the conversion to or the renewal of the LIBOR Euro-Rate Option for any Loans in Dollars; (ii) not later than 1:00 p.m., four (4) Business Days prior to the proposed Borrowing Date with respect to the making of Optional Currency Loans or the date of conversion to or renewal of the Euro-Rate Option for Optional Currency Loans; and (iiiii) not later than 11:00 a.m., the same Business Day of the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 2.4.1 or a request by telephone immediately confirmed in writing by letter, facsimile or telex in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “Loan Request”); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate amount of the proposed Loans (expressed in the currency in which such Loans shall be funded) comprising each Borrowing Tranche, and, if applicable, the Interest Period, which amount shall be in (x) an integral multiple multiples of $1,000,000 250,000 (or the Dollar Equivalent thereof) and not less than $5,000,000 1,000,000 (or the Dollar Equivalent thereof) for each Borrowing Tranche under the LIBOR Euro-Rate Option Option, and (y) an integral multiple multiples of $50,000 100,000 and not less than the lesser of $500,000 or the maximum amount available for each Borrowing Tranches to which Tranche under the Base Rate Option appliesOption; (iiiii) whether the LIBOR Euro-Rate Option or Base Rate Option shall apply to the proposed Revolving Credit Loans comprising the applicable Borrowing Tranche; and (iii) the currency in which such Loans shall be funded if the Borrowers are electing the Euro-Rate Option; (iv) in the case of a Borrowing Tranche to which the LIBOR Euro-Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing Tranche; and (v) which Borrower is requesting the Revolving Credit Loan. No Loan made in an Optional Currency may be converted into a Base Rate Loan, a Euro-Rate Loan or a Loan denominated in a different Optional Currency.
Appears in 2 contracts
Samples: Credit Agreement (Foster L B Co), Revolving Credit Facility (Foster L B Co)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject (a) Requests for loans and advances under the Revolving Credit or for the continuance or conversion of an interest rate applicable to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, a Revolving Credit Loan may be requested by the Borrower in the form attached as EXHIBIT C or in such other manner as may from time to time prior be acceptable to the Expiration Date request the Lenders to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 [Interest Periods], by delivering Agent.
(b) Subject to the Administrative Agentprovisions of this Agreement, not later than 11:00 a.m., (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Rate Option applies or the conversion to or the renewal of the LIBOR Rate Option for any Loans; and (ii) the same Business Day of the proposed Borrowing Date with respect to the making of Borrower may request a Revolving Credit Loan and elect an interest rate and Interest Period to be applicable to that Revolving Credit Loan by giving notice to the Agent by no later than the following:
(i) If such Revolving Credit Loan is to be or is to be converted to a Base Margin Loan: By 1:00PM on the Business Day on which the subject Revolving Credit Loan is to be made or is to be so converted. Base Rate Option applies Margin Loans requested by the Borrower, other than those resulting from the conversion of a LIBOR Loan, shall not be less than $10,000.
(ii) If such Revolving Credit Loan is to be, or is to be continued as, or converted to, a LIBOR Loan: By 10:30AM Two (2) LIBOR Business Days before the commencement of any new Interest Period or the last day end of the preceding then applicable Interest Period with respect Period. LIBOR Loans and conversions to LIBOR Loans shall each be not less than $1,000,000 and in increments of $100,000 in excess of such minimum.
(iii) Any LIBOR Loan which matures while the Borrower is InDefault shall be converted, at the option of the Agent, to a Base Margin Loan notwithstanding any notice from the Borrower that such Loan is to be continued as a LIBOR Loan.
(c) Any request for a Revolving Credit Loan or for the continuance or conversion of an interest rate applicable to a Revolving Credit Loan which is made after the Base Rate Option for any Loanapplicable deadline therefor, as set forth above, shall be deemed to have been made at the opening of a duly completed business on the then next Business Day or LIBOR Business Day, as applicable.
(d) The Borrower may request therefor substantially in the form of Exhibit 2.5.1 or a request by telephone immediately confirmed in writing in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “Loan Request”); it being understood that the Administrative Agent cause the issuance by the Issuer of L/C's for the account of the Borrower as provided in Section 2.18.
(e) The Agent may rely on any request for a loan or advance, or other financial accommodation under the Revolving Credit which the Agent, in good faith, believes to have been made by a Person duly authorized to act on behalf of the Borrower and may decline to make any such requested loan or advance, or issuance, or to provide any such financial accommodation pending the Agent's being furnished with such documentation concerning that Person's authority of any individual making such to act as may be satisfactory to the Agent.
(f) A request by the Borrower for a telephonic request without loan or advance, or other financial accommodation under the necessity of receipt of such written confirmation. Each Loan Request Revolving Credit shall be irrevocable and shall specify or certifyconstitute certification by the Borrower that as of the date of such request, as applicable each of the following is true and correct:
(i) There has been no material adverse change in the proposed Borrowing Date; Borrower's financial condition from the most recent financial information furnished Agent or any Revolving Credit Lender pursuant to this Agreement.
(ii) To the aggregate amount extent necessary, all or a portion of any loan or advance so requested will be set aside by the proposed Loans comprising each Borrowing Tranche, which amount shall be in (x) an integral multiple Borrower to cover the Borrower's obligations for sales tax on account of $1,000,000 and not less than $5,000,000 for each Borrowing Tranche under sales since the LIBOR Rate Option and (y) an integral multiple of $50,000 and not less than then most recent borrowing pursuant to the lesser of $500,000 or the maximum amount available for Borrowing Tranches to which the Base Rate Option applies; Revolving Credit.
(iii) whether Each representation which is made herein or in any of the LIBOR Rate Option or Base Rate Option shall apply Loan Documents was true in all material respects as of the date as of which they were made and each of the representations and warranties contained in this Agreement are true in all material respects, with the same effect as if made at and as of the date of such request (except to the proposed Loans comprising extent of changes resulting from transactions contemplated or permitted by this Agreement and the applicable Borrowing Tranche; other Loan Documents and changes occurring in the ordinary course of business that singly or in the aggregate are not materially adverse, and to the extent that such representations and warranties relate expressly to an earlier date).
(iv) Unless accompanied by a written Certificate of the Borrower's President or its Chief Financial Officer describing (in reasonable detail) the case facts and circumstances thereof and the steps (if any) being taken to remedy such condition, that the Borrower is not InDefault.
(g) If, at any time or from time to time, the Borrower is InDefault:
(i) The Agent may suspend the Revolving Credit immediately, in which event, neither the Agent nor any Revolving Credit Lender shall be obligated, during such suspension, to make any loan or advance, or to provide any financial accommodation hereunder or to seek the issuance of any L/C.
(ii) The Agent may suspend the right of the Borrower to request any LIBOR Loan or to convert any Base Margin Loan to a Borrowing Tranche to which the LIBOR Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing TrancheLoan.
Appears in 2 contracts
Samples: Loan and Security Agreement (Gander Mountain Co), Loan and Security Agreement (Gander Mountain Co)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower may from time to time prior to the Expiration Date request the Lenders Banks to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans or Term Loans pursuant to Section 4.2 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 a.m., Pittsburgh time, (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Euro-Rate Option applies or the conversion to or the renewal of the LIBOR Euro-Rate Option for any Loans; and (ii) the same Business Day of on either the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 or a request by telephone immediately confirmed in writing by letter, facsimile or telex in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “Loan Request”); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate amount of the proposed Loans comprising each Borrowing Tranche, which amount shall be in (x) an integral multiple multiples of $1,000,000 500,000 and not less than $5,000,000 1,000,000 for each Borrowing Tranche under to which the LIBOR Euro-Rate Option and (y) an integral multiple of $50,000 applies and not less than the lesser of $500,000 100,000 or the maximum amount available for Borrowing Tranches to which the Base Rate Option applies; (iii) whether the LIBOR Euro-Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; and (iv) in the case of a Borrowing Tranche to which the LIBOR Euro-Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing Tranche.
Appears in 2 contracts
Samples: Credit Agreement (Koppers Inc), Credit Agreement (KI Holdings Inc.)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower Borrowers may from time to time prior to the Expiration Date request the Lenders Banks to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans or Term Loans pursuant to Section 4.2 [Interest Periods]4.2, by delivering to the Administrative Agent, not later than 11:00 10:30 a.m., Pittsburgh time, (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans in Dollars to which the LIBOR Euro-Rate Option applies or the conversion to or the renewal of the LIBOR Euro-Rate Option for any Loans; such Loans and four (4) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans in an Optional Currency or the date of conversion to or renewal of the Euro-Rate Option for Revolving Credit Loans in an Optional Currency and (ii) the same Business Day of on either the proposed Borrowing Date (which shall be a Business Day) with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 EXHIBIT 2.4 or a request by telephone immediately confirmed in writing by letter, facsimile or telex in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “Loan Request”"LOAN REQUEST"); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate amount of the proposed Loans (expressed in the currency in which such Loans shall be funded) comprising each Borrowing Tranche, the Dollar Equivalent amount of which amount shall be in (x) an integral multiple multiples of $1,000,000 100,000.00 and not less than $5,000,000 2,000,000.00 for each Borrowing Tranche under to which the LIBOR Euro-Rate Option and (y) an integral multiple of $50,000 applies and not less than the lesser of $500,000 or 2,000,000.00 and the maximum amount available for Borrowing Tranches to which the Base Rate Option applies; (iii) whether the LIBOR Euro-Rate Option or Base Rate Option shall apply to the proposed Revolving Credit Loans comprising the applicable Borrowing Tranche; (iv) the currency in which such Loans shall be funded if the Borrower is electing the Euro-Rate Option; and (ivv) in the case of a Borrowing Tranche to which the LIBOR Euro-Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing Tranche.
Appears in 2 contracts
Samples: Credit Agreement (Glatfelter P H Co), Credit Agreement (Glatfelter P H Co)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to (a) Requests for loans and advances under the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower may from time to time prior to the Expiration Date request the Lenders to make Revolving Credit Loans, or renew for the continuance or convert the Interest Rate Option conversion of an interest rate applicable to existing Revolving Credit Loans pursuant to Section 4.2 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 a.m., (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Rate Option applies or the conversion to or the renewal of the LIBOR Rate Option for any Loans; and (ii) the same Business Day of the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which may be requested by the Base Rate Option applies Lead Borrower by written or telephonic notice (in the last day case of telephonic notice, promptly confirmed in writing if so requested by the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, Administrative Agent). Such notice of a duly completed request therefor borrowing shall be substantially in the form of Exhibit 2.5.1 EXHIBIT 2.5 hereto, signed by the Lead Borrower and transmitted to the Administrative Agent by telecopier. Each such notice shall be irrevocable and shall specify (i) the proposed Borrower, (ii) the amount of the proposed borrowing and the date thereof (which shall be a Business Day) and (iii) whether the borrowing then being requested is to be a borrowing of Base Margin Loans or LIBOR Loans and, if LIBOR Loans, the Interest Period with respect thereto. If no election is made as to the Type of Loan or no election of Interest Period is specified in any such notice for a borrowing of LIBOR Loans, such notice shall be deemed a request by telephone immediately confirmed in writing in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, for borrowing of Base Margin Loans. The Administrative Agent may rely on any telephonic request for a “Loan Request”); it being understood borrowing to the same extent that the Administrative Agent may rely on a written request. The Borrowers shall bear all risks related to the authority giving of borrowing requests telephonically.
(b) Subject to the provisions of this Agreement, the Lead Borrower may, on behalf of any individual making Borrower, request a Revolving Credit Loan and elect an interest rate and Interest Period to be applicable to that Revolving Credit Loan by giving notice to the Administrative Agent by no later than the following:
(i) If such Revolving Credit Loan is to be or is to be converted to a telephonic Base Margin Loan: By 2:00 p.m. on the Business Day on which the subject Revolving Credit Loan is to be made or is to be so converted (provided that if notice is furnished after 12:00 noon on any Business Day, the Revolving Credit Loan so requested shall be deemed a request without for a SwingLine Loan). Base Margin Loans requested by the necessity Lead Borrower, other than those resulting from the conversion of receipt a LIBOR Loan, shall not be less than $250,000 and in increments of $10,000 in excess of such written confirmationminimum.
(ii) If such Revolving Credit Loan is to be, or is to be continued as, or converted to, a LIBOR Loan: By 2:00 p.m. three (3) LIBOR Business Days before the commencement of any new Interest Period or the end of the then applicable Interest Period. Each LIBOR Loans and conversions to LIBOR Loans shall each be not less than $3,000,000 and in increments of $1,000,000 in excess of such minimum.
(iii) Any LIBOR Loan Request which matures while any Borrower is in Default shall be converted, at the option of the Administrative Agent, to a Base Margin Loan notwithstanding any notice from the Lead Borrower that such Loan is to be continued as a LIBOR Loan.
(iv) LIBOR Loans may not be converted or continued as LIBOR Loans at any time other than the end of the Interest Period applicable thereto unless the Borrowers shall pay, upon demand, any amounts due pursuant to Section 2.11(f) hereof.
(c) Any request for a Revolving Credit Loan or for the continuance or conversion of an interest rate applicable to a Revolving Credit Loan which is made after the applicable deadline therefor, as set forth above, shall be deemed to have been made at the opening of business on the then next Business Day or LIBOR Business Day, as applicable.
(d) The Lead Borrower may, on behalf of any Loan Party, request that the Administrative Agent cause the issuance by the Issuer of L/Cs or Banker's Acceptances for the account of the Borrowers as provided in Section 2.17.
(e) The Administrative Agent may rely on any request for a loan or advance, or other financial accommodation under the Revolving Credit which the Administrative Agent, in good faith, believes to have been made by a Person duly authorized to act on behalf of the Lead Borrower and may decline to make any such requested loan or advance, or issuance, or to provide any such financial accommodation pending the Administrative Agent's being furnished with such documentation concerning that Person's authority to act as may be satisfactory to the Administrative Agent.
(f) A request by the Lead Borrower for loan or advance, or other financial accommodation under the Revolving Credit shall be irrevocable and shall specify or certifyconstitute certification by each Borrower that as of the date of such request, as applicable each of the following is true and correct:
(i) There has been no material adverse change in the proposed Borrowing Date; Borrowers' financial condition from the most recent financial information furnished any Agent or any Revolving Credit Lender pursuant to this Agreement.
(ii) the aggregate amount Each representation which is made herein or in any of the proposed Loans comprising each Borrowing Tranche, which amount shall be Loan Documents is then true and complete in (x) an integral multiple all material respects as of $1,000,000 and not less than $5,000,000 for each Borrowing Tranche under as if made on the LIBOR Rate Option and (y) an integral multiple date of $50,000 and not less than such request except to the lesser extent that any of $500,000 or the maximum amount available for Borrowing Tranches same relates expressly to which the Base Rate Option applies; a different date.
(iii) whether Unless accompanied by a written Certificate of the LIBOR Rate Option Lead Borrower's President or Base Rate Option shall apply its Chief Financial Officer describing (in reasonable detail) the facts and circumstances of any Default then existing and the steps (if any) being taken to the proposed Loans comprising the applicable Borrowing Tranche; remedy such condition, that no Default has occurred and (iv) in the case of a Borrowing Tranche to which the LIBOR Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing Trancheis continuing.
Appears in 2 contracts
Samples: Loan and Security Agreement (DSW Inc.), Loan and Security Agreement (DSW Inc.)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower may from time to time prior to the Expiration Date request the Lenders Banks to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 [Interest Periods]Loans, by delivering the delivery to the Administrative Agent, not later than 11:00 a.m., 10:00 A.M. Pittsburgh time (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Revolving Euro-Rate Option applies or the conversion to or the renewal of the LIBOR Euro-Rate Option for any Revolving Credit Loans; and (ii) on the same Business Day of which is the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Revolving Credit Base Rate Option applies or the last day of the preceding Euro-Rate Interest Period with respect to the conversion to the Revolving Credit Base Rate Option for any Revolving Credit Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 2.05 hereto or a request by telephone immediately confirmed in writing by letter, facsimile or telex in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “"Revolving Credit Loan Request”"); , it being understood that the Administrative Agent may rely in good faith on the authority of any individual person making such a telephonic request without the necessity of receipt of such written confirmationand purporting to be an Authorized Officer. Each Revolving Credit Loan Request shall be irrevocable and shall specify or certify, as applicable (i) specify the proposed Borrowing Date; (ii) specify the aggregate amount of the proposed Revolving Credit Loans comprising each the Borrowing Tranche, which amount shall be in (x) an integral multiple multiples of $1,000,000 500,000 and not less than $5,000,000 for each Borrowing Tranche under Revolving Credit Loans to which the LIBOR Revolving Credit Euro-Rate Option and (y) an integral multiple of $50,000 applies and not less than the lesser of $500,000 or the maximum amount available for Borrowing Tranches Revolving Credit Loans to which the Revolving Credit Base Rate Option applies; (iii) specify whether the LIBOR Revolving Euro-Rate Option or Base Rate Option shall apply to the proposed Revolving Credit Loans comprising the applicable Borrowing Tranche; and (iv) specify in the case of a Borrowing Tranche Revolving Credit Loans to which the LIBOR Revolving Euro-Rate Option applies, an appropriate Euro-Rate Interest Period for the proposed Revolving Credit Loans comprising such the Borrowing Tranche; (v) specify the use by the Borrower of the Loan proceeds; (vi) certify that no Event of Default or Potential Default has occurred and is continuing after giving effect to the proposed Revolving Credit Loan and without limiting the generality of this clause (vi), certify compliance with Section 2.01(c) of this Agreement; and (vii) in the event that the proceeds of the proposed Revolving Credit Loan will be used to acquire a new health care facility or other business, permitted to be acquired pursuant to this Agreement, certify, in detail satisfactory to the Agent, a calculation of the ratio specified in Section 2.01(c).
Appears in 2 contracts
Samples: Credit Agreement (Mariner Health Group Inc), Credit Agreement (Mariner Health Group Inc)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower Borrowers may from time to time prior to the Expiration Date request the Lenders to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 3.2 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 a.m.12:00 noon, (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Rate Option applies or the date of conversion to or the renewal of the LIBOR Rate Option for any Loans; and (ii) the same one (1) Business Day of prior to either the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 2.4.1 or a request by telephone immediately confirmed in writing by letter, facsimile or telex in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “Revolving Credit Loan Request”); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; Date and (ii) the aggregate amount of the proposed Loans comprising each Borrowing Tranche, and, if applicable, the Interest Period, which amount amounts shall be in integral multiples of One Million and 00/100 Dollars (x$1,000,000.00) an integral multiple of $1,000,000 and not less than Five Million and 00/100 Dollars ($5,000,000 5,000,000.00) for each Borrowing Tranche under the LIBOR Rate Option and (y) an integral multiple of $50,000 and not less than the lesser of One Million and 00/100 Dollars ($500,000 1,000,000.00) or the maximum amount available for Borrowing Tranches to which under the Base Rate Option applies; (iii) whether the LIBOR Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; and (iv) in the case of a Borrowing Tranche to which the LIBOR Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing TrancheOption.
Appears in 2 contracts
Samples: Revolving Credit Facility (Allegheny Technologies Inc), Credit Agreement (Allegheny Technologies Inc)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject the Borrowers, through NovaCare as their agent pursuant to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereofBorrower Agency Agreement, the Borrower may from time to time prior to the Expiration Date request the Lenders Banks to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 [Interest Periods]Loans, by delivering the delivery to the Administrative Agent, not later than 11:00 a.m., 10:00 a.m. Pittsburgh time (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Revolving Credit Euro-Rate Option applies or the conversion to or the renewal of the LIBOR Revolving Credit Euro-Rate Option for any Revolving Credit Loans; and (ii) the same one (1) Business Day of prior to either the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Revolving Credit Base Rate Option applies or the last day of the preceding Euro-Rate Interest Period with respect to the conversion to the Revolving Credit Base Rate Option for any Revolving Credit Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 2.05 or a request by telephone immediately confirmed in writing by letter, facsimile or telex in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “"Revolving Credit Loan Request”"); , it being understood that the Administrative Agent may rely in good faith on the authority of any individual person making such a telephonic request without the necessity of receipt of such written confirmationand purporting to be an Authorized Officer. Each Revolving Credit Loan Request shall be irrevocable and shall specify or certify, as applicable (i) specify the proposed Borrowing Date; (ii) specify the aggregate amount of the proposed Revolving Credit Loans comprising each the Borrowing Tranche, which amount shall be in (x) an integral multiple multiples of $1,000,000 500,000 and not less than $5,000,000 1,500,000 for each Borrowing Tranche under Revolving Credit Loans to which the LIBOR Revolving Credit Euro-Rate Option and (y) an integral multiple of $50,000 applies and not less than the lesser of $500,000 or the maximum amount available for Borrowing Tranches Revolving Credit Loans to which the Revolving Credit Base Rate Option applies; (iii) specify whether the LIBOR Revolving Credit Euro-Rate Option or Revolving Credit Base Rate Option shall apply to the proposed Revolving Credit Loans comprising the applicable Borrowing Tranche; and (iv) in the case of a Borrowing Tranche Revolving Credit Loans to which the LIBOR Revolving Credit Euro-Rate Option applies, specify an appropriate Euro-Rate Interest Period for the proposed Revolving Credit Loans comprising the Borrowing Tranche; (v) specify the Borrower to which each Borrowing Tranche is to apply and the amount of such Borrowing TrancheTranche allocable to such Borrower; (vi) certify that the use by the Borrower of the Revolving Credit Loan proceeds is a use permitted by Section 2.08; and (vii) certify that no Event of Default or Potential Default has occurred and is continuing after giving effect to the proposed Revolving Credit Loan.
Appears in 2 contracts
Samples: Credit Agreement (Novacare Inc), Credit Agreement (Novacare Inc)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower may from time to time prior to the Expiration Date request the Lenders to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 a.m., (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Rate Option applies or the conversion to or the renewal of the LIBOR Rate Option for any Loans; and (ii) the same Business Day of the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 or a request by telephone immediately confirmed in writing by letter, facsimile or telex in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “Loan Request”); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate amount of the proposed Loans comprising each Borrowing Tranche, and, if applicable, the Interest Period, which amount amounts shall be in (x) an in integral multiple multiples of $1,000,000 500,000 and not less than $5,000,000 1,000,000 for each Borrowing Tranche under the LIBOR Rate Option Option, and (y) an integral multiple of $50,000 and not less than the lesser of $500,000 100,000 or the maximum amount available for each Borrowing Tranches to which Tranche under the Base Rate Option applies; (iii) whether the LIBOR Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; and (iv) in the case of a Borrowing Tranche to which the LIBOR Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing TrancheOption.
Appears in 2 contracts
Samples: Credit Agreement (Armstrong Coal Company, Inc.), Credit Agreement (Armstrong Energy, Inc.)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and Borrowing Agent, on behalf of the other terms and conditions hereofBorrowers, the Borrower may from time to time prior to the Expiration Maturity Date request the Lenders to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 a.m., 10:00 a.m. Eastern Time,
(i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans denominated in Dollars to which the LIBOR Term SOFR Rate Option or Daily Simple SOFR Rate Option applies or the conversion to or the renewal of the LIBOR any such Interest Rate Option for any Loans; and Revolving Credit Loans denominated in Dollars;
(ii) four (4) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans denominated in Alternative Currencies to which the Daily Simple RFR Option (or, after the Term RFR Transition Date, the Term RFR Option) applies, or the conversion to or renewal of a Daily Simple RFR Option (or, after the Term RFR Transition Date, the Term RFR Option) for any Revolving Credit Loans denominated in Alternative Currencies; and/or
(iii) the same Business Day of the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Revolving Credit Loan, in each case, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 or a request by telephone immediately confirmed in writing by letter, facsimile or telex in such form and delivered by facsimile form, in each case which request shall also indicate whether such Revolving Credit Loan will be extended to iGo, or email (in “pdf,” “tif” or similar format) to another Borrower (each, a “Loan Request”); , it being understood that the Administrative Agent may rely on the authority of any individual Authorized Officer making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certifythe currency, as applicable (i) the proposed Borrowing Date; (ii) Type, and the aggregate amount of the proposed Loans comprising each Borrowing Tranche, and, if applicable, the Interest Period, which amount amounts shall be in (x) an integral multiple multiples of the Dollar Equivalent of $1,000,000 100,000 and not less than the Dollar Equivalent of $250,000 for each Borrowing Tranche under a Term Rate Loan Option, and (y) integral multiples of $100,000 and not less than $5,000,000 250,000 for each Borrowing Tranche under the LIBOR a Daily Rate Option and (y) an integral multiple of $50,000 and not less than the lesser of $500,000 or the maximum amount available for Borrowing Tranches to which the Base Rate Option applies; (iii) whether the LIBOR Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; and (iv) in the case of a Borrowing Tranche to which the LIBOR Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing TrancheLoan Option.
Appears in 2 contracts
Samples: Credit Agreement (Steel Partners Holdings L.P.), Revolving Credit Agreement (Steel Partners Holdings L.P.)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower may from time to time prior to the Expiration Date request the Lenders to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 a.m.Noon, (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Rate Option applies or the conversion to or the renewal of the LIBOR Rate Option for any Loans; and (ii) the same Business Day of the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 or a request by telephone immediately confirmed in writing by letter, facsimile or telex in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “Loan Request”); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate amount of the proposed Loans comprising each Borrowing Tranche, and, if applicable, the Interest Period, which amount amounts shall be in (x) an integral multiple multiples of $1,000,000 500,000 and not less than $5,000,000 1,000,000 for each Borrowing Tranche under the LIBOR Rate Option Option, and (y) an integral multiple multiples of $50,000 100,000 and not less than the lesser of $500,000 or the maximum amount available for each Borrowing Tranches to which Tranche under the Base Rate Option applies; (iii) whether the LIBOR Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; and (iv) in the case of a Borrowing Tranche to which the LIBOR Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing TrancheOption.
Appears in 2 contracts
Samples: Credit Agreement (Bob Evans Farms Inc), Credit Agreement (Bob Evans Farms Inc)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower may from time to time prior to the Expiration Date request the Lenders to make Revolving Credit Loans, Loans or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 10:00 a.m., Pittsburgh time, (ia) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Euro-Rate Option applies or the date of conversion to or the renewal of the LIBOR Euro-Rate Option for any such Loans; and (iib) the same Business Day of on either the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a Loan Request therefor duly completed request therefor by an Authorized Officer substantially in the form of Exhibit 2.5.1 2.4 or a request Loan Request by telephone immediately confirmed in writing in such form and delivered by letter, facsimile or email (telex in “pdf,” “tif” or similar format) (eachthe form of such Exhibit, a “Loan Request”); it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation, provided that such individual purports to be an Authorized Officer. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate amount of the proposed Revolving Credit Loans comprising each Borrowing Tranche, the amount of which amount shall be in (x) an integral multiple multiples of $1,000,000 1,000,000.00 and not less than $5,000,000 3,000,000.00 for each Borrowing Tranche under to which the LIBOR Euro-Rate Option and (y) an integral multiple of $50,000 applies and not less than the lesser of $500,000 1,000,000.00 and in integral multiples of $100,000.00 or the maximum amount available for Borrowing Tranches to which the Base Rate Option applies; (iii) whether the LIBOR Euro-Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; and (iv) in the case of a Borrowing Tranche to which the LIBOR Euro-Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing Tranche.
Appears in 2 contracts
Samples: Credit Agreement (New Jersey Resources Corp), Credit Agreement (New Jersey Resources Corp)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower may from time to time prior to the Expiration Date request the Lenders Banks to make Revolving Credit Loans, Loans or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 10:00 a.m., Pittsburgh time, (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Euro-Rate Option applies or the date of conversion to or the renewal of the LIBOR Euro-Rate Option for any such Loans; and (ii) the same one (1) Business Day of prior to either the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request Loan Request therefor substantially in the form of Exhibit 2.5.1 2.4 or a request Loan Request by telephone immediately confirmed in writing in such form and delivered by letter, facsimile or email (telex in “pdf,” “tif” or similar format) (eachthe form of such Exhibit, a “Loan Request”); it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate amount of the proposed Revolving Credit Loans comprising each Borrowing Tranche, the amount of which amount shall be in (x) an integral multiple multiples of $1,000,000 and not less than $5,000,000 3,000,000 for each Borrowing Tranche under to which the LIBOR Euro-Rate Option and (y) an integral multiple of $50,000 applies and not less than the lesser of $500,000 1,000,000 and in integral multiples of $100,000 or the maximum amount available for Borrowing Tranches to which the Base Rate Option applies; (iii) whether the LIBOR Euro-Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; and (iv) in the case of a Borrowing Tranche to which the LIBOR Euro-Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing Tranche.
Appears in 2 contracts
Samples: Revolving Credit Facility (New Jersey Resources Corp), Revolving Credit Facility (New Jersey Resources Corp)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower may from time to time prior to the Expiration Date request the Lenders to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 3.2 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 10:00 a.m., (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Rate Option applies or the conversion to or the renewal of the LIBOR Rate Option for any Loans; and (ii) the same Business Day of on the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 2.4.1 or a request by telephone immediately confirmed in writing by letter, facsimile or telex in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “Revolving Credit Loan Request”); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Revolving Credit Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate amount of the proposed Loans comprising each Borrowing Tranche, and, if applicable, the Interest Period, which amount amounts shall be in integral multiples of Five Hundred Thousand and 00/100 Dollars (x$500,000.00) an integral multiple of $1,000,000 and not less than Two Million and 00/100 Dollars ($5,000,000 2,000,000.00) for each Borrowing Tranche under the LIBOR Rate Option and (y) an integral multiple of $50,000 and not less than the lesser of Two Million and 00/100 Dollars ($500,000 2,000,000.00) or the maximum amount available for Borrowing Tranches to which under the Base Rate Option applies; (iii) whether the LIBOR Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; and (iv) in the case of a Borrowing Tranche to which the LIBOR Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing TrancheOption.
Appears in 2 contracts
Samples: Revolving Credit Facility (Erie Indemnity Co), Credit Agreement (Erie Indemnity Co)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the a Borrower may from time to time prior to the Expiration Date request the Lenders to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 [Interest Periods]3.1.3, by delivering to the Administrative Agent, not later than 11:00 a.m., Eastern time, (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans in Dollars to which the LIBOR Euro-Rate Option applies or the date of conversion to or the renewal of the LIBOR Euro-Rate Option for any Loanssuch Loans and four (4) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans in an Optional Currency or the date of conversion to or renewal of the Euro-Rate Option for Revolving Credit Loans in an Optional Currency; and (ii) the same one (1) Business Day of prior to either the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 or a request by telephone immediately confirmed in writing in such form and delivered by letter, facsimile or email (telex in “pdf,” “tif” or similar format) the form of such Exhibit (each, a “"Loan Request”"); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate amount of the proposed Loans (expressed in the currency in which such Loans shall be funded and also as a Dollar Equivalent if such Loans shall be funded in an Optional Currency) comprising each Borrowing Tranche, the Dollar Equivalent amount of which amount shall be in (x) an integral multiple multiples of $1,000,000 and not less than $5,000,000 for each Borrowing Tranche under to which the LIBOR Euro-Rate Option and (y) an integral multiple of $50,000 applies and not less than the lesser of $500,000 1,000,000 or the maximum amount available for Borrowing Tranches to which the Base Rate Option applies; (iii) whether the LIBOR Euro-Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; (iv) the currency in which such Loans shall be funded if the Borrower is electing the Euro-Rate Option; and (ivv) in the case of a Borrowing Tranche to which the LIBOR Euro-Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing Tranche.
Appears in 2 contracts
Samples: Revolving Credit Facility Credit Agreement (Brady Corp), Revolving Credit Facility (Brady Corp)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower may from time to time prior to the Expiration Date request the Lenders to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 [Interest Periods], by delivering to the Administrative Agent, Agent (i) not later than 11:00 a.m.1:00 p.m., (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Rate Option applies or the conversion to or the renewal of the LIBOR Rate Option for any Loans; and (ii) not later than 1:00 p.m., the same Business Day of the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 2.4 or a request by telephone immediately confirmed in writing by letter, facsimile or electronic mail in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “Loan Request”); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation, provided such individual purports to be an Authorized Officer. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate amount of the proposed Revolving Credit Loans comprising each Borrowing Tranche, the amount of which amount shall be in (x) an integral multiple multiples of $1,000,000 and not less than $5,000,000 3,000,000 for each Borrowing Tranche under to which the LIBOR Rate Option and (y) an integral multiple of $50,000 applies and not less than the lesser of $500,000 1,000,000 and in integral multiples of $100,000 or the maximum amount available for Borrowing Tranches to which the Base Rate Option applies; (iii) whether the LIBOR Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; and (iv) in the case of a Borrowing Tranche to which the LIBOR Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing Tranche.
Appears in 2 contracts
Samples: Credit Agreement (New Jersey Resources Corp), Credit Agreement (New Jersey Resources Corp)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower Borrowers may from time to time prior to the Expiration Date request the Lenders to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 a.m.1:00 p.m., (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Term SOFR Rate Option applies or the conversion to or the renewal of the LIBOR Term SOFR Rate Option for any Loans; and (ii) the same Business Day of the proposed Borrowing Date with respect to the making of a Revolving Credit Loan denominated in Dollars to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any LoanLoan denominated in Dollars; and (iii) four (4) Business Days prior to the proposed Borrowing Date with respect to (a) the making of Revolving Credit Loans denominated in Alternative Currencies to which the Daily Simple RFR Option applies, or (b) the conversion to a Daily Simple RFR Option for any Revolving Credit Loans denominated in Alternative Currencies, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 or a request by telephone immediately promptly confirmed in writing by letter, email, facsimile or telex in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “Loan Request”); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certifythe Currency, as applicable (i) the proposed Borrowing Date; (ii) Interest Rate Option, and the aggregate amount of the proposed Loans comprising each Borrowing Tranche, and, if applicable, the Interest Period, which amount amounts shall be in (x) an integral multiple multiples of $1,000,000 500,000 and not less than $5,000,000 1,000,000 for each Borrowing Tranche under the LIBOR Term SOFR Rate Option and Option, (y) an integral multiple multiples of the Dollar Equivalent of $50,000 500,000 and not less than the lesser Dollar Equivalent of $1,000,000 for each Borrowing Tranche under the Daily Simple RFR Option, and (z) integral multiples of $500,000 or the maximum amount available and not less than $500,000 for each Borrowing Tranches to which Tranche under the Base Rate Option applies; (iii) whether the LIBOR Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; and (iv) Option. No Loan denominated in the case of any Currency may be converted into a Borrowing Tranche to which the LIBOR Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing TrancheLoan denominated in a different Currency.
Appears in 2 contracts
Samples: Credit Agreement (Crocs, Inc.), Credit Agreement (Crocs, Inc.)
Revolving Credit Loan Requests. Except (a) Requests for loans and advances under the Revolving Credit or for the continuance or conversion of an interest rate applicable to a Revolving Credit Loan may be requested by the Lead Borrower in such manner as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower may from time to time prior to the Expiration Date request the Lenders to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 [Interest Periods], by delivering be reasonably acceptable to the Administrative Agent.
(b) Subject to the provisions of this Agreement, not the Lead Borrower may request a Revolving Credit Loan and elect an interest rate and Interest Period to be applicable to that Revolving Credit Loan by giving notice to the Administrative Agent by no later than 11:00 a.m., the following:
(i) If such Revolving Credit Loan is to be or is to be converted to a Base Margin Loan: By 1:00 p.m. on the Business Day on which the subject Revolving Credit Loan is to be made or is to be so converted . Base Margin Loans requested by the Lead Borrower, other than those resulting from the conversion of an Index Loan, shall not be less than $10,000.00.
(ii) If such Revolving Credit Loan is to be or is to be converted to an Index Loan: By 1:00 p.m., three (3) Index Business Days prior before the commencement of any new Interest Period or the end of the then applicable Interest Period. Index Loans and conversions to Index Loans shall each be not less than $1,000,000.00 and in increments of $500,000.00 in excess of such minimum.
(iii) Any Index Loan which matures while a Suspension Event or Event of Default exists, may be converted, at the proposed Borrowing Date with respect option of the Administrative Agent, to a Base Margin Loan notwithstanding any notice from the making of Lead Borrower that such Revolving Credit Loans Loan is to which be continued as an Index Loan.
(c) Any request for a Revolving Credit Loan or for the LIBOR Rate Option applies continuance or the conversion to or the renewal of the LIBOR Rate Option for any Loans; and (ii) the same Business Day of the proposed Borrowing Date with respect to the making of a Revolving Credit Loan which is made after the applicable deadline therefor, as set forth above, shall be deemed to which have been made at the Base Rate Option applies opening of business on the then next Business Day or Index Business Day, as applicable, unless the last day Administrative Agent, in its discretion, determines to deem it to have been made earlier. Each request for a Revolving Credit Loan or for the conversion of the preceding Interest Period with respect a Revolving Credit Loan shall be made in such manner as may from time to time be acceptable to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 or a request by telephone immediately confirmed in writing in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “Loan Request”); it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate amount of the proposed Loans comprising each Borrowing Tranche, which amount shall be in (x) an integral multiple of $1,000,000 and not less than $5,000,000 for each Borrowing Tranche under the LIBOR Rate Option and (y) an integral multiple of $50,000 and not less than the lesser of $500,000 or the maximum amount available for Borrowing Tranches to which the Base Rate Option applies; (iii) whether the LIBOR Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; and (iv) in the case of a Borrowing Tranche to which the LIBOR Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing TrancheAgent.
Appears in 2 contracts
Samples: Loan and Security Agreement (Mothers Work Inc), Loan and Security Agreement (Mothers Work Inc)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower Borrowers may from time to time prior to the Expiration Date request the Lenders to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 10:00 a.m., (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans in Dollars to which the LIBOR Rate Option applies or the conversion to or the renewal of the LIBOR Rate Option for any LoansLoans in Dollars; (ii) four (4) Business Days prior to the proposed Borrowing Date with respect to the making of Optional Currency Loans or the date of conversion to or renewal of the LIBOR Rate Option for any Optional Currency Loan, and (iiiii) the same Business Day of the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 or a request by telephone immediately confirmed in writing by letter, facsimile or telex in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “Loan Request”); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (iA) the proposed Borrowing Date; applicable Borrower, (iiB) the aggregate amount of the proposed Loans comprising each Borrowing Tranche, and, if applicable, the Interest Period, which amount shall be in (x) an integral multiple multiples of One Million Dollars ($1,000,000 1,000,000) (or the Dollar Equivalent thereof) and not less than Five Million Dollars ($5,000,000 5,000,000) (or the Dollar Equivalent thereof) for each Borrowing Tranche under the LIBOR Rate Option Option, and (y) an integral multiple multiples of Five Hundred Thousand Dollars ($50,000 500,000) and not less than the lesser of One Million Dollars ($500,000 or the maximum amount available 1,000,000) for each Borrowing Tranches to which Tranche under the Base Rate Option applies; Option, (iiiC) whether the LIBOR Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; , (D) the currency in which such Revolving Credit Loans shall be funded if the applicable Borrower elects the LIBOR Rate Option, and (ivE) in the case of a Borrowing Tranche to which the LIBOR Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing Tranche. No Optional Currency Loan may be borrowed as a Base Rate Loan or converted into a Base Rate Loan or a Loan denominated in a different Optional Currency.
Appears in 2 contracts
Samples: Credit Agreement (Stoneridge Inc), Credit Agreement (Stoneridge Inc)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower may from time to time prior to the Expiration Date request the Lenders Banks to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans or pursuant to Section 4.2 [3.2 (Interest Periods]), by delivering to the Administrative Agent, not later than 11:00 a.m., Eastern time, (i) three i)three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR LIBO-Rate Option applies or the conversion to or the renewal of the LIBOR LIBO-Rate Option for any Loans; and (ii) on the same Business Day day of either the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 2.4.1 or a request by telephone immediately promptly confirmed in writing by letter or facsimile in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “"Loan Request”"); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the i)the proposed Borrowing Date; (ii) the ii)the aggregate amount of the proposed Loans comprising each Borrowing Tranche, which amount shall be in (x) an integral multiple multiples of $1,000,000 $ 500,000 and not less than $5,000,000 2,500,000 for each Borrowing Tranche under to which the LIBOR LIBO-Rate Option applies and (y) an which shall be in integral multiple multiples of $50,000 100,000 and not less than the lesser of $500,000 or the maximum amount available for Borrowing Tranches to which the Base Rate Option applies; (iii) whether iii)whether the LIBOR LIBO-Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; and (iv) in iv)in the case of a Borrowing Tranche to which the LIBOR LIBO-Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing Tranche.
Appears in 2 contracts
Samples: Revolving Credit Facility (Hovnanian Enterprises Inc), Credit Agreement (Hovnanian Enterprises Inc)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower may from time to time prior to the Expiration Date request the Lenders to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 a.m.12:00 noon, Pittsburgh time, (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Euro-Rate Option applies or the conversion to or the renewal of the LIBOR Euro-Rate Option for any Loans; and (ii) the same Business Day of on the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 2.5 or a request by telephone immediately confirmed in writing by letter, facsimile or telex in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “Loan Request”); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable specify: (i) the proposed Borrowing Date; (ii) the aggregate amount of the proposed Loans comprising each Borrowing Tranche, which amount shall be in (x) an integral multiple multiples of $1,000,000 2,000,000 and not less than $5,000,000 2,000,000 for each Borrowing Tranche under to which the LIBOR Euro-Rate Option and (y) an integral multiple of $50,000 applies and not less than the lesser of $500,000 100,000 or the maximum amount available for Borrowing Tranches to which the Base Rate Option applies; (iii) whether the LIBOR Euro-Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; and (iv) in the case of a Borrowing Tranche to which the LIBOR Euro-Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing Tranche.
Appears in 2 contracts
Samples: Credit Agreement (Rhino Resource Partners LP), Senior Secured Revolving Credit Facility (Rhino Resource Partners, L.P.)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower may from time to time prior to the relevant Expiration Date request the Lenders to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 [Interest Periods], by delivering to the Administrative Borrower by the delivery to the Agent, not later than 11:00 a.m.noon (Pittsburgh, Pennsylvania time) (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Euro-Rate Option applies or the conversion to or the renewal of the LIBOR Rate Option for any Revolving Credit Loans; and (ii) on the same Business Day of the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 "D" hereto or a request by telephone immediately confirmed in writing by letter or facsimile in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “Loan Request”"LOAN REQUEST"); , it being understood that the Administrative Agent may rely on the authority of any individual person making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate amount of the proposed Revolving Credit Loans comprising each to be made on such Borrowing TrancheDate, which amount amount, as to Base Rate Portions, shall be in (x) an integral multiple multiples of $500,000 and not less than $1,000,000 and, as to Euro-Rate Portions, shall be in integral multiples of $1,000,000 and not less than $5,000,000 for each Borrowing Tranche under the LIBOR Rate Option and (y) an integral multiple of $50,000 and not less than the lesser of $500,000 or the maximum amount available for Borrowing Tranches to which the Base Rate Option applies5,000,000; (iii) subject to Section 2.08(d), whether the LIBOR Euro-Rate Option or the Base Rate Option shall apply to the proposed Revolving Credit Loans comprising the applicable to be made on such Borrowing TrancheDate; and (iv) in the case of a Borrowing Tranche Revolving Credit Loans to which the LIBOR Euro-Rate Option appliesapplies and subject to Sections 2.08(d) and 2.08(e), an appropriate Euro-Rate Interest Period for each Euro-Rate Portion of the Revolving Credit Loans comprising to be made on such Borrowing TrancheDate. The Borrower may request disbursements of Short-Term Revolving Credit Loans only when the full amount of Long-Term Revolving Credit Commitment is utilized.
Appears in 2 contracts
Samples: Revolving Credit and Letter of Credit Issuance Agreement (Rti International Metals Inc), Revolving Credit and Letter of Credit Issuance Agreement (Rmi Titanium Co)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject (a) Requests for loans and advances under the Revolving Credit or for the continuance or conversion of an interest rate applicable to a Revolving Credit Loan may be requested by the notice requirements Borrower in the manner set forth herein or in this Section 2.5.1 and the such other terms and conditions hereof, the Borrower manner as may from time to time prior be reasonably acceptable to the Expiration Date Agent.
(b) Subject to the provisions of this Agreement, the Borrower may request the Lenders to make a Revolving Credit Loans, or renew or convert the Loan and elect an interest rate and Interest Rate Option Period to be applicable to existing that Revolving Credit Loans pursuant to Section 4.2 [Interest Periods], Loan by delivering giving notice to the Administrative Agent, not Agent by no later than 11:00 a.m., the following:
(i) If such Revolving Credit Loan is to be or is to be converted to a Base Margin Loan: By 11:30AM on the Business Day on which the subject Revolving Credit Loan is to be made or is to be so converted. Base Margin Loans requested by the Borrower, other than those resulting from the conversion of a Libor Loan, shall not be less than $10,000.00.
(ii) If such Revolving Credit Loan is to be, or is to be continued as, or converted to, a Libor Loan: By 1:00PM three (3) Libor Business Days prior to before the proposed Borrowing Date with respect to the making commencement of Revolving Credit Loans to which the LIBOR Rate Option applies any new Interest Period or the conversion to or the renewal end of the LIBOR Rate Option for any Loans; then applicable Interest Period. Libor Loans and conversions to Libor Loans shall each be not less than $1,000,000.00 and in increments of $250,000.00 in excess of such minimum.
(iiiii) Any Libor Loan which matures while the same Business Day Borrower is InDefault shall be converted, at the option of the proposed Borrowing Date with respect Agent, to a Base Margin Loan notwithstanding any notice from the making of Borrower that such Loan is to be continued as a Libor Loan.
(c) Any request for a Revolving Credit Loan or for the continuance or conversion of an interest rate applicable to a Revolving Credit Loan which is made after the Base Rate Option applies applicable deadline therefor, as set forth above, shall be deemed to have been made at the opening of business on the then next Business Day or Libor Business Day, as applicable.
(d) The Borrower may request that the last day Agent cause the issuance by the Issuer of L/C’s for the account of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially Borrower as provided in the form of Exhibit 2.5.1 or a request by telephone immediately confirmed in writing in such form and delivered by facsimile or email Section 2-18.
(in “pdf,” “tif” or similar formate) (each, a “Loan Request”); it being understood that the Administrative The Agent may rely on any request for a loan or advance, or other financial accommodation under the Revolving Credit which the Agent, in good faith, believes to have been made by a Person duly authorized to act on behalf of the Borrower and may decline to make any such requested loan or advance, or issuance, or to provide any such financial accommodation pending the Agent’s being furnished with such documentation concerning that Person’s authority of any individual making such a telephonic to act as may be reasonably satisfactory to the Agent.
(f) A request without by the necessity of receipt of such written confirmation. Each Loan Request Borrower for loan or advance, or other financial accommodation under the Revolving Credit shall be irrevocable and shall specify or certifyconstitute certification by the Borrower that as of the date of such request, as applicable each of the following is true and correct:
(i) There has been no material adverse change in the proposed Borrowing Date; Borrower’s financial condition from the most recent financial information furnished Agent pursuant to this Agreement.
(ii) the aggregate amount Each representation which is made herein or in any of the proposed Loans comprising each Borrowing Tranche, which amount shall be Loan Documents is then true and complete in (x) an integral multiple all material respects as of $1,000,000 and not less than $5,000,000 for each Borrowing Tranche under as if made on the LIBOR Rate Option and (y) an integral multiple date of $50,000 and not less than the lesser of $500,000 or the maximum amount available for Borrowing Tranches to which the Base Rate Option applies; such request.
(iii) whether The Borrower is not InDefault.
(g) If, at any time or from time to time, the LIBOR Rate Option Borrower is InDefault:
(i) The Agent may suspend the Revolving Credit immediately.
(ii) Neither the Agent nor any Revolving Credit Lender shall be obligated, during such suspension, to make any loans or advance, or to provide any financial accommodation hereunder or to seek the issuance of any L/C.
(iii) The Agent may suspend the right of the Borrower to request any Libor Loan or to convert any Base Rate Option shall apply Margin Loan to the proposed Loans comprising the applicable Borrowing Tranche; and (iv) in the case of a Borrowing Tranche to which the LIBOR Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing TrancheLibor Loan.
Appears in 2 contracts
Samples: Loan and Security Agreement (Hastings Entertainment Inc), Loan and Security Agreement (Hastings Entertainment Inc)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower may from time to time prior to the Expiration Date request the Lenders to make Revolving Credit Loans, Loans or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 10:00 a.m., Pittsburgh time, (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Rate Option applies or the date of conversion to or the renewal of the LIBOR Rate Option for any such Loans; and (ii) the same one (1) Business Day of prior to either the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a Loan Request therefor duly completed request therefor by an Authorized Officer substantially in the form of Exhibit 2.5.1 2.4 or a request Loan Request by telephone immediately confirmed in writing in such form and delivered by letter, facsimile or email (telex in “pdf,” “tif” or similar format) (eachthe form of such Exhibit, a “Loan Request”); it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation, provided such individual purports to be an Authorized Officer. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate amount of the proposed Revolving Credit Loans comprising each Borrowing Tranche, the amount of which amount shall be in (x) an integral multiple multiples of $1,000,000 and not less than $5,000,000 3,000,000 for each Borrowing Tranche under to which the LIBOR Rate Option and (y) an integral multiple of $50,000 applies and not less than the lesser of $500,000 1,000,000 and in integral multiples of $100,000 or the maximum amount available for Borrowing Tranches to which the Base Rate Option applies; (iii) whether the LIBOR Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; and (iv) in the case of a Borrowing Tranche to which the LIBOR Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing Tranche.
Appears in 2 contracts
Samples: Credit Agreement (New Jersey Resources Corp), Credit Agreement (New Jersey Resources Corp)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the a Borrower may from time to time prior to the Expiration Date request the Lenders Banks to make Revolving Credit LoansLoans in Dollars, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 3.01(a) [Revolving Credit Interest PeriodsRate Options], by delivering to the Administrative Agent, not later than 11:00 10:00 a.m., New York time, (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Rate Option applies applies, or with respect to the conversion to or the renewal of the LIBOR Rate Option for any Loans, provided that at any time when an Event of Default shall have occurred and be continuing, a LIBOR Option shall not be available to a Borrower if the Required Banks have so notified the Borrower; and (ii) the same one (1) Business Day of prior to either the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Revolving Credit Loan Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request Revolving Credit Loan Request therefor substantially in the form of Exhibit 2.5.1 2.05 or a request Revolving Credit Loan Request by telephone immediately confirmed in writing by letter, facsimile, email, or telex in the form of such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (eachExhibit. In addition, a “Borrower may from time to time prior to the Expiration Date request to make Revolving Credit Loans in Alternate Currencies by delivering to the Agent, not later than 1:00 P.M., New York time, at least four Business Days prior to the Borrowing Date a duly completed Revolving Credit Loan Request”); it being understood that Request substantially in the Administrative Agent may rely on form of Exhibit 2.05 or a Revolving Credit Loan Request by telephone immediately confirmed in writing by letter, facsimile, email or telex in the authority of any individual making such a telephonic request without the necessity of receipt form of such written confirmationExhibit. Each Revolving Credit Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the identity of the applicable Borrower; (ii) the respective Approved Currency for such Loan; (iii) the proposed Borrowing Date; (iiiv) the aggregate amount of the proposed Loans comprising each Borrowing TrancheTranche (stated in the applicable Approved Currency), which amount shall be (A) for all Loans made to Holdings, the Company, AGRI and AGRO, in (x) an integral multiple multiples of $1,000,000 and not less than $5,000,000 10,000,000 for each Borrowing Tranche under to which the LIBOR Rate Option and (y) an integral multiple of $50,000 applies and not less than the lesser of $500,000 or the maximum amount available for Borrowing Tranches to which the Base Rate Option applies and (B) for all Loans made to the UK Borrower, in integral multiples of $1,000,000 for each Borrowing Tranche to which the LIBOR Option applies and not less than $500,000 or the maximum amount available for Borrowing Tranches to which the Base Rate Option applies; (iiiv) whether the Revolving Credit LIBOR Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; and (ivvi) in the case of a Borrowing Tranche to which the Revolving Credit LIBOR Rate Option applies, an appropriate Revolving Credit Interest Period for the Loans comprising such Borrowing Tranche.
Appears in 2 contracts
Samples: Credit Agreement (Assured Guaranty LTD), Credit Agreement (Assured Guaranty LTD)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower may from time to time prior to the Expiration Date request the Lenders to make Revolving Credit Loans pursuant to Section 2.1(a) [Loans], or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 a.m., (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Rate Option applies or the conversion to or the renewal of the LIBOR Rate Option for any Revolving Credit Loans; and (ii) the same Business Day of the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Revolving Credit Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 2.6(A) or a request by telephone immediately confirmed in writing by letter, facsimile, email or telex in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “"Loan Request”"); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate amount of the proposed Loans comprising each Borrowing Tranche, and, if applicable, the Interest Period, which amount amounts shall be in (x) an integral multiple multiples of $1,000,000 100,000 and not less than $5,000,000 500,000 for each Borrowing Tranche under the LIBOR Rate Option Option, and (y) an integral multiple multiples of $50,000 100,000 and not less than the lesser of $500,000 or the maximum amount available for each Borrowing Tranches to which Tranche under the Base Rate Option applies; (iii) whether the LIBOR Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; and (iv) in the case of a Borrowing Tranche to which the LIBOR Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing TrancheOption.
Appears in 2 contracts
Samples: Credit Agreement (Ipalco Enterprises, Inc.), Credit Agreement (Ipalco Enterprises, Inc.)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower may from time to time prior to the Expiration Date request the Lenders to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 3.2 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 10:00 a.m., (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans in Dollars to which the LIBOR Rate Option applies or the conversion to or the renewal of the LIBOR Rate Option for any Loans, and four (4) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans in an Optional Currency or the date of conversion or renewal of the LIBOR Rate Option for Revolving Credit Loans in Optional Currencies; and (ii) the same one (1) Business Day of prior to either the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 2.4 or a request by telephone immediately confirmed in writing by letter, facsimile or telex in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “Loan Request”); , it being understood that the Administrative Agent may reasonably rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (iA) the proposed Borrowing Date; , (iiB) the aggregate amount of the proposed Loans (expressed in the currency in which such Loans are to be funded) comprising each Borrowing Tranche, which provided that the amount of any Borrowing Tranche in Dollars shall be in (x) an integral multiple multiples of $1,000,000 100,000.00 and not less than $5,000,000 1,000,000.00 for each Borrowing Tranche under the LIBOR Rate Option and (y) an integral multiple of $50,000 and not less than the lesser of $500,000 500,000.00 or the maximum amount available for Borrowing Tranches to which under the Base Rate Option appliesOption; (iiiC) the currencies in which such Loans shall be funded if the Borrower is electing the LIBOR Rate Option; (D) whether the LIBOR Rate Option or Base Rate Option shall apply to the proposed Revolving Credit Loans comprising the applicable each Borrowing Tranche; and (ivE) in the case of a Borrowing Tranche to which the LIBOR Rate Option applies, an appropriate Interest Period Period. Each Loan Request shall be deemed a representation by the Borrower that it has satisfied all of the conditions for the Loans comprising such Borrowing TrancheLoan so requested set forth in this Agreement.
Appears in 2 contracts
Samples: Credit Agreement (Gsi Commerce Inc), Credit Agreement (Gsi Commerce Inc)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower may from time to time prior to the Expiration Date request the Facility A Lenders to make Revolving Credit Facility A Loans pursuant to Section 2.1(a) [Facility A Loans], or renew or convert the Interest Rate Option applicable to existing Revolving Credit Facility A Loans or Facility B Loans pursuant to Section 4.2 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 a.m., (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Facility A Loans to which the LIBOR Rate Option applies or the conversion to or the renewal of the LIBOR Rate Option for any Facility A Loans or Facility B Loans; and (ii) the same Business Day of the proposed Borrowing Date with respect to the making of a Revolving Credit Facility A Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Facility A Loan or Facility B Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 2.6(A) or a request by telephone immediately confirmed in writing by letter, facsimile, email or telex in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “"Borrower Loan Request”"); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Borrower Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate amount of the proposed Loans comprising each Borrowing Tranche, and, if applicable, the Interest Period, which amount amounts shall be in (x) an integral multiple multiples of $1,000,000 100,000 and not less than $5,000,000 1,000,000 for each Borrowing Tranche under the LIBOR Rate Option Option, and (y) an integral multiple multiples of $50,000 100,000 and not less than $1,000,000 for each Borrowing Tranche under the lesser Base Rate Option. Except as otherwise provided herein, the Trustee may from time to time prior to the Expiration Date request the Facility B Lenders to make Facility B Loans to the Borrower pursuant to Section 2.3 [Facility B Loans], by delivering to the Administrative Agent, not later than 11:00 a.m., (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of $500,000 Facility B Loans to which the LIBOR Rate Option applies or the maximum amount available conversion to or the renewal of the LIBOR Rate Option for any Facility B Loans; and (ii) the same Business Day of the proposed Borrowing Tranches Date with respect to the making of a Facility B Loan to which the Base Rate Option appliesapplies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Facility B Loan, of a duly completed request therefor substantially in the form of Exhibit 2.6(B) or a request by telephone immediately confirmed in writing by letter, facsimile or telex in such form (each, a "Trustee Loan Request"), it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Trustee Loan Request shall be irrevocable. Concurrently with any Trustee Loan Request, the Borrower shall provide a written notice to the Administrative Agent specifying the Interest Rate Option applicable to the Loan requested by such Trustee Loan Request, and in the case of any Loan request for the LIBOR Rate Option, the Interest Period applicable thereto, Loan shall be in (x) integral multiples of $100,000 and not less than $1,000,000 for each Borrowing Tranche under the LIBOR Rate Option, and (y) integral multiples of $100,000 and not less than $1,000,000 for each Borrowing Tranche under the Base Rate Option ; (iii) whether provided that, if the Administrative Agent does not receive such concurrent notice prior to 11:00 a.m., at least three Business Days prior to the date of the requested Facility B Loan specifying that such Loan is to bear interest at the LIBOR Rate Option or and the Interest Period of such Loan, such Loan shall accrue interest at the Base Rate Option shall apply Option. Upon any Trustee Loan Request being submitted to the proposed Loans comprising Administrative Agent, the applicable Borrowing Tranche; Borrower shall deliver a certificate to the Administrative Agent, in form and (iv) substance satisfactory to the Administrative Agent, to the effect that all conditions precedent set forth in the case of a Borrowing Tranche to which the LIBOR Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing TrancheSections 7.2 have been satisfied.
Appears in 2 contracts
Samples: Revolving Credit Agreement (Ipalco Enterprises, Inc.), Credit Agreement (Ipalco Enterprises, Inc.)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower may from time to time prior to the Expiration Date request the Lenders to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 10:00 a.m., : (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Rate Option applies or the conversion to or the renewal of the LIBOR Rate Option for any Loans; and (ii) the same Business Day of the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 or a request by telephone immediately confirmed in writing by letter, facsimile or telex in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “Loan Request”); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate amount of the proposed Loans comprising each Borrowing Tranche, and, if applicable, the Interest Period, which amount amounts shall be in (x) an integral multiple multiples of $1,000,000 250,000 and not less than $5,000,000 1,000,000 for each Borrowing Tranche under the LIBOR Rate Option Option, and (y) an integral multiple multiples of $50,000 100,000 and not less than the lesser of $500,000 or the maximum amount available 250,000 for each Borrowing Tranches to which Tranche under the Base Rate Option applies; (iii) whether the LIBOR Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; and (iv) in the case of a Borrowing Tranche to which the LIBOR Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing TrancheOption.
Appears in 2 contracts
Samples: Credit Agreement (Meridian Bioscience Inc), Credit Agreement (Meridian Bioscience Inc)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower may from time to time prior to the Expiration Date request that the Lenders to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to any existing Revolving Credit Loans pursuant to Section 4.2 [Interest Periods]4.2, by delivering to the Administrative Agent, not later than 11:00 a.m.1:00 p.m., Pittsburgh time (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Euro-Rate Option applies or the conversion to or the renewal of the LIBOR Euro-Rate Option for any Loans; , and (ii) the same one (1) Business Day of prior to either the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor in substantially in the form of Exhibit 2.5.1 D hereto or a request by telephone immediately confirmed in writing by letter, facsimile or telex in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “Loan Request”); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each such Loan Request shall be irrevocable and shall specify or certify, as applicable specify: (iA) the proposed Borrowing Date; (iiB) the aggregate amount of the proposed Loans comprising each Borrowing Tranche, which amount shall be in (x) an integral multiple multiples of $1,000,000 and not less than $5,000,000 2,000,000 for each Borrowing Tranche under to which the LIBOR Euro-Rate Option and (y) an integral multiple of $50,000 applies and not less than the lesser of $500,000 1,000,000 or the maximum amount available for Borrowing Tranches to which the Base Rate Option applies; (iiiC) whether the LIBOR Euro-Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; and (ivD) in the case of a Borrowing Tranche to which the LIBOR Euro-Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing Tranche.
Appears in 2 contracts
Samples: Credit Agreement (Calgon Carbon Corporation), Credit Agreement (Calgon Carbon Corporation)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower may from time to time prior to the Expiration Date request the Lenders Banks to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 [Interest Periods]3.2, by delivering to the Administrative Agent, not later than 11:00 a.m., (i) 2:00 p.m., Eastern time, three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Euro-Rate Option applies or the conversion to or the renewal of the LIBOR Euro-Rate Option for any Revolving Credit Loans; and (ii) the same Business Day of 1:00 p.m., Eastern time on either the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Revolving Credit Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 2.4 or a request by telephone immediately confirmed in writing by letter, facsimile or telex in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “"Loan Request”"); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Revolving Credit Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate amount of the proposed Revolving Credit Loans comprising each Borrowing Tranche, which amount shall be in (x) an integral multiple multiples of $1,000,000 500,000 and not less than $5,000,000 1,000,000 for each Borrowing Tranche under to which the LIBOR Euro-Rate Option and (y) an integral multiple of $50,000 applies and not less than the lesser of $500,000 200,000 or the maximum amount available for Borrowing Tranches to which the Base Rate Option applies; (iii) whether the LIBOR Euro-Rate Option or Base Rate Option shall apply to the proposed Revolving Credit Loans comprising the applicable Borrowing Tranche; and (iv) in the case of a Borrowing Tranche to which the LIBOR Euro-Rate Option applies, an appropriate Interest Period for the proposed Revolving Credit Loans comprising such Borrowing Tranche.
Appears in 2 contracts
Samples: Revolving Credit Facility (Triumph Group Inc /), Credit Agreement (Triumph Group Inc /)
Revolving Credit Loan Requests. Except as otherwise provided herein, herein (and subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof4.6 [Selection of Interest Rate Options]), the Borrower may from time to time prior to the Expiration Date request the Revolving Lenders to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 4.3 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 10:00 a.m., (i) three (3) Business Days (or, solely in the case of a Revolving Credit Loan requested to be made on the Fourth Amendment and Restatement Effective Date, two (2) Business Days) prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Term SOFR Rate Option applies or the conversion to or the renewal of the LIBOR Term SOFR Rate Option for any Loans; and (ii) the same one (1) Business Day of prior to either the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 or a request by telephone immediately confirmed in writing by letter, facsimile or telex in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “Loan Request”); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate amount of the proposed Loans comprising each Borrowing Tranche, and, if applicable, the Interest Period, which amount amounts shall be in (x) an integral multiple multiples of $1,000,000 500,000 and not less than $5,000,000 1,000,000 for each Borrowing Tranche under the LIBOR Term SOFR Rate Option and (y) an in integral multiple multiples of $50,000 100,000 and not less than the lesser of $500,000 or the maximum amount available for Borrowing Tranches to which under the Base Rate Option applies; (iii) whether the LIBOR Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; and (iv) in the case of a Borrowing Tranche to which the LIBOR Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing TrancheOption.
Appears in 1 contract
Revolving Credit Loan Requests. Except as otherwise provided ------------------------------ herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower may from time to time prior to the Revolving Credit Expiration Date request the Lenders Banks to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 [Interest Periods]Loans, by delivering the delivery to the Administrative Agent, not later than 11:00 a.m., 2:00 p.m. Pittsburgh time (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Euro-Rate Option applies or the conversion to or the renewal of the LIBOR Euro-Rate Option for any Revolving Credit Loans; and (ii) the same Business Day of not later than 11:00 a.m. Pittsburgh time on the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Euro-Rate Interest Period with respect to the conversion to the Base Rate Option for any Revolving Credit Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 H-1 or a request by telephone immediately ----------- confirmed in writing in such form and delivered by letter, facsimile or email (in “pdf,” “tif” or similar format) telex (each, a “"Revolving Credit ---------------- Loan Request”"); , it being understood that the Administrative Agent may rely on the authority of ------------ any individual person making such a telephonic request without the necessity of receipt of such written confirmation. Each Revolving Credit Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate principal amount of the proposed Revolving Credit Loans comprising each the Borrowing Tranche, which amount shall be in (x) an integral multiple multiples of $1,000,000 50,000 and not less than $5,000,000 for each Borrowing Tranche under Revolving Credit Loans to which the LIBOR Euro-Rate Option and (y) an integral multiple of $50,000 applies and not less than the lesser of $500,000 1,000,000 or the maximum amount available under the Revolving Credit Commitments for Borrowing Tranches Revolving Credit Loans to which the Base Rate Option applies; (iii) whether the LIBOR Euro-Rate Option or the Base Rate Option shall apply to the proposed Revolving Credit Loans comprising the applicable Borrowing Tranche; and (iv) in the case of a Borrowing Tranche Revolving Credit Loans to which the LIBOR Euro-Rate Option applies, an appropriate Euro-Rate Interest Period for the proposed Revolving Credit Loans comprising such the Borrowing Tranche. If no such notice is given at least three (3) Business Days prior to the expiration of any Euro-Rate Interest Period for any Revolving Credit Loan or portion thereof, the Borrower shall be deemed to have converted such Revolving Credit Loan or portion thereof to the Base Rate Option commencing upon the last day of that Euro-Rate Interest Period.
Appears in 1 contract
Samples: Senior Secured Credit Agreement (Federated Investors Inc /Pa/)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower may from time to time prior to the Expiration Date request the Lenders to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 a.m., (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Rate Option applies or the conversion to or the renewal of the LIBOR Rate Option for any Loans; and (ii) the same Business Day of the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 2.5 or a request by telephone immediately confirmed in writing by letter, facsimile or telex in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “‘‘Loan Request”’‘); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate amount of the proposed Loans comprising each Borrowing Tranche, and, if applicable, the Interest Period, which amount amounts shall be in (x) an integral multiple multiples of $1,000,000 500,000 and not less than $5,000,000 1,000,000 for each Borrowing Tranche under the LIBOR Rate Option Option, and (y) an integral multiple multiples of $50,000 100,000 and not less than the lesser of $500,000 or the maximum amount available for each Borrowing Tranches to which Tranche under the Base Rate Option applies; (iii) whether the LIBOR Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; and (iv) in the case of a Borrowing Tranche to which the LIBOR Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing TrancheOption.
Appears in 1 contract
Samples: Revolving Credit Facility (Advanced Drainage Systems, Inc.)
Revolving Credit Loan Requests. 2.3.1. Except as otherwise provided herein, herein and subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, with respect to the Revolving Credit Loans, the Borrower may from time to time prior to the Expiration Date Date:
(i) request the Lenders Bank to make Revolving Credit Loansa LIBOR Rate Loan, a LIBOR Advantage Rate Loan or a Base Rate Loan;
(ii) request the Bank to renew an existing LIBOR Rate Loan; 219927742
(iii) request the Bank to convert an existing LIBOR Rate Loan or LIBOR Advantage Rate Loan to a Base Rate Loan;
(iv) request the Bank to convert an existing LIBOR Advantage Rate Loan to a Base Rate Loan or a LIBOR Rate Loan; or
(v) request the Interest Bank to convert an existing Base Rate Option applicable Loan to existing Revolving Credit Loans pursuant to Section 4.2 [Interest Periods], a LIBOR Rate Loan or a LIBOR Advantage Rate Loan. Each such request by the Borrower shall be made by delivering to the Administrative Agent, not later than 11:00 a.m., (i) three (3) Business Days prior to Bank within the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Rate Option applies or the conversion to or the renewal of the LIBOR Rate Option for any Loans; and (ii) the same Business Day of the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of times set forth in Section 2.3.2 hereof a duly completed request therefor thereof substantially in the form of Exhibit 2.5.1 2.3.1 or a request by telephone immediately confirmed in writing by letter, facsimile or telex in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “"Revolving Credit Loan Request”"); , it being understood that the Administrative Agent Bank may rely on the authority of any individual Authorized Representative making such a telephonic request without the necessity of receipt of such written confirmation.
2.3.2. Each Revolving Credit Loan Request under Section 2.3.1 shall be delivered, made and confirmed no later than 1:00 p.m.:
(i) not less than the second (2nd) Business Day nor more than the fifth (5th) Business Day prior to the proposed Borrowing Date with respect to the making or renewal of Revolving Credit Loans to which the LIBOR Rate Option applies and/or the conversion of Revolving Credit Loans from Base Rate Loans or LIBOR Advantage Rate Loans to LIBOR Rate Loans;
(ii) the proposed Borrowing Date with respect to the making of or conversion to a Revolving Credit Loan to which the Base Rate Option or the LIBOR Advantage Rate Option applies; or
(iii) the last day of the preceding LIBOR Interest Period with respect to the conversion of Revolving Credit Loans from LIBOR Rate Loans to Base Rate Loans or LIBOR Advantage Rate Loans.
2.3.3. Notwithstanding anything to the contrary contained herein, no portion of the outstanding principal amount of any LIBOR Rate Loan may be converted to a LIBOR Rate Loan of a different duration or a Base Rate Loan or a LIBOR Advantage Rate Loan if such LIBOR Rate Loan relates to any Hedging Obligation. Each Revolving Credit Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate amount of the proposed Revolving Credit Loans comprising each Borrowing Tranche, which amount shall be in integral multiples of Twenty-Five Thousand and 00/100 Dollars (x$25,000.00) an integral multiple of $1,000,000 and not less than Fifty Thousand and 00/100 Dollars ($5,000,000 50,000.00) for each Borrowing Tranche under the LIBOR Rate Option and (y) an integral multiple of $50,000 and not less than the lesser of $500,000 or the maximum amount available for Borrowing Tranches to which the Base Rate Option applies; (iii) whether the LIBOR Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; and (iv) in the case of a Borrowing Tranche to which the LIBOR Rate Option applies, an appropriate Interest Period and (iii) whether the LIBOR Rate Option, the LIBOR Advantage Rate Option or the Base Rate Option shall apply to the proposed Revolving Credit Loans comprising the applicable Borrowing Tranche. Each such request by the Borrower for the Loans comprising such Borrowing Tranchemaking of a Revolving Credit Loan shall only be advanced upon the satisfaction of requirements listed in Section 6.2.
Appears in 1 contract
Samples: Credit Agreement (Moog Inc.)
Revolving Credit Loan Requests. Except (a) Requests for Revolving Credit Loans or for the continuance or conversion of an interest rate applicable to a Revolving Credit Loan may be requested by the Lead Borrower in such manner as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower may from time to time prior be acceptable to the Expiration Date Agent.
(b) Subject to the provisions of this Agreement, the Lead Borrower may request the Lenders to make a Revolving Credit Loans, or renew or convert the Loan and elect an interest rate and Interest Rate Option Period to be applicable to existing that Revolving Credit Loans pursuant to Section 4.2 [Interest Periods], Loan by delivering giving notice to the Administrative Agent, not Agent by no later than 11:00 a.m., the following:
(i) If such Revolving Credit Loan is to be or is to be converted to a Base Margin Loan: By 12:00 PM on the Business Day on which the subject Revolving Credit Loan is to be made or is to be so converted. Base Margin Loans requested by the Lead Borrower, other than those resulting from the conversion of a Eurodollar Loan, shall not be less than $10,000.00.
(ii) If such Revolving Credit Loan is to be, or is to be continued as, or converted to, a Eurodollar Loan: By 1:00PM three (3) Eurodollar Business Days prior to before the proposed Borrowing Date with respect to the making commencement of Revolving Credit Loans to which the LIBOR Rate Option applies any new Interest Period or the conversion to or the renewal end of the LIBOR Rate Option for then applicable Interest Period. Eurodollar Loans and conversions to Eurodollar Loans shall each be not less than $500,000.00 and in increments of $100,000.00 in excess of such minimum.
(iii) Any Eurodollar Loan which matures while any Loans; and (ii) Borrower is in Default shall be converted, at the same Business Day option of the proposed Borrowing Date with respect Agent, to a Base Margin Loan notwithstanding any notice from the making of Lead Borrower that such Loan is to be continued as a Eurodollar Loan.
(c) Any request for a Revolving Credit Loan or for the continuance or conversion of an interest rate applicable to a Revolving Credit Loan which is made after the Base Rate Option applies applicable deadline therefor, as set forth above, shall be deemed to have been made at the opening of business on the then next Business Day or Eurodollar Business Day, as applicable.
(d) The Lead Borrower may request that the last day Agent cause the issuance by the Issuer of L/C's for the account of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially Borrowers as provided in the form of Exhibit 2.5.1 or a request by telephone immediately confirmed in writing in such form and delivered by facsimile or email Section 2:2-19.
(in “pdf,” “tif” or similar formate) (each, a “Loan Request”); it being understood that the Administrative The Agent may rely on any request for a loan or advance, or other financial accommodation under the Revolving Credit which the Agent, in good faith, believes to have been made by a Person duly authorized to act on behalf of the Lead Borrower and may decline to make any such requested loan or advance, or issuance, or to provide any such financial accommodation pending the Agent's being furnished with such documentation concerning that Person's authority of any individual making such a telephonic to act as may be reasonably satisfactory to the Agent.
(f) A request without by the necessity of receipt of such written confirmation. Each Loan Request Lead Borrower for loan or advance, or other financial accommodation under the Revolving Credit shall be irrevocable and shall specify or certifyconstitute certification by each Borrower that as of the date of such request, as applicable each of the following is true and correct:
(i) There has been no material adverse change in the proposed Borrowing Date; Borrowers' financial condition from the most recent financial information furnished Agent or any Revolving Credit Lender pursuant to this Agreement.
(ii) If on any day that an advance is made hereunder, any sales tax owed by the aggregate amount Borrowers is due and payable and remains unpaid, then some or all of the proposed Loans comprising each Borrowing Tranche, which amount such advance shall be in (x) an integral multiple applied to cover the Borrowers' payment of $1,000,000 and not less than $5,000,000 for each Borrowing Tranche under the LIBOR Rate Option and (y) an integral multiple of $50,000 and not less than the lesser of $500,000 or the maximum amount available for Borrowing Tranches to which the Base Rate Option applies; such sales tax.
(iii) whether Each representation which is made herein or in any of the LIBOR Rate Option or Base Rate Option shall apply to Loan Documents is then true and complete in all material respects as of and as if made on the proposed Loans comprising the applicable Borrowing Tranche; and date of such request.
(iv) The granting of the request will not result in a breach of or default under the case of a Borrowing Tranche to which the LIBOR Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing Tranche1995 Indenture.
Appears in 1 contract
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower may from time to time prior to the Expiration Date request the Lenders Lender to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 3.2 [Interest Periods], by delivering to the Administrative AgentLender, not later than 11:00 a.m.1:00 p.m., (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Rate Option applies or the conversion to or the renewal of the LIBOR Rate Option for any Loans; and (ii) the same Business Day of the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 2.2. or a request by telephone immediately confirmed in writing by letter, facsimile or telex in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “Loan Request”); , it being understood that the Administrative Agent Lender may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate amount of the proposed Loans comprising each Borrowing Tranche, and, if applicable, the Interest Period, which amount amounts shall be in (x) an integral multiple multiples of $1,000,000 500,000 and not less than $5,000,000 1,000,000 for each Borrowing Tranche under the LIBOR Rate Option Option, and (y) an integral multiple multiples of $50,000 100,000 and not less than the lesser of $500,000 or the maximum amount available for each Borrowing Tranches to which Tranche under the Base Rate Option applies; (iii) whether the LIBOR Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; and (iv) in the case of a Borrowing Tranche to which the LIBOR Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing TrancheOption.
Appears in 1 contract
Samples: Credit Agreement (DSW Inc.)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower may from time to time prior to the Expiration Date request the Lenders to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans or Term Loans pursuant to Section 4.2 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 10:00 a.m., (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans in Dollars to which the LIBOR Euro-Rate Option applies or the conversion to or the renewal of the LIBOR Euro-Rate Option for any Loans in Dollars; and (ii) four (4) Business Days prior to the proposed Borrowing Date with respect to the making of an Optional Currency Loan or the date of conversion to or renewal of the Euro-Rate Option for Optional Currency Loans; and (iiiii) the same Business Day of the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 2.4.1 or a request by telephone immediately confirmed in writing by letter, facsimile or telex in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “Loan Request”); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate amount of the proposed Loans (expressed in the currency in which such Loans shall be funded) comprising each Borrowing Tranche, which amount shall be in (x) an integral multiple multiples of $1,000,000 500,000 (or the Dollar Equivalent thereof) and not less than $5,000,000 500,000 (or the Dollar Equivalent thereof) for each Borrowing Tranche under the LIBOR Euro-Rate Option Option, and (y) an integral multiple of $50,000 and not less than the lesser of $500,000 or the maximum amount available for Borrowing Tranches to which the Base Rate Option applies; (iii) whether the LIBOR Euro-Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; (iv) the currency in which such Revolving Credit Loans shall be funded if the Borrower elects the Euro-Rate Option and (ivv) in the case of a Borrowing Tranche to which the LIBOR Euro-Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing Tranche. No Optional Currency Loans may be converted into a Base Rate Loan, a Euro-Rate Loan or a Loan denominated in a different Optional Currency.
Appears in 1 contract
Samples: Credit Agreement (Ii-Vi Inc)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to (a) Requests for loans and advances under the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower may from time to time prior to the Expiration Date request the Lenders to make Revolving Credit Loans, or renew for the continuance or convert the Interest Rate Option conversion of an interest rate applicable to existing Revolving Credit Loans pursuant to Section 4.2 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 a.m., (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Rate Option applies or the conversion to or the renewal of the LIBOR Rate Option for any Loans; and (ii) the same Business Day of the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which may be requested by the Base Rate Option applies Lead Borrower by written or telephonic notice (in the last day case of telephonic notice, promptly confirmed in writing if so requested by the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, Administrative Agent). Such notice of a duly completed request therefor borrowing shall be substantially in the form of Exhibit 2.5.1 EXHIBIT 2.5 hereto, signed by the Lead Borrower and transmitted to the Administrative Agent by telecopier. Each such notice shall be irrevocable and shall specify (i) the proposed Borrower, (ii) the amount of the proposed borrowing and the date thereof (which shall be a Business Day) and (iii) whether the borrowing then being requested is to be a borrowing of Base Margin Loans or LIBOR Loans and, if LIBOR Loans, the Interest Period with respect thereto. If no election is made as to the Type of Loan or no election of Interest Period is specified in any such notice for a borrowing of LIBOR Loans, such notice shall be deemed a request by telephone immediately confirmed in writing in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, for borrowing of Base Margin Loans. The Administrative Agent may rely on any telephonic request for a “Loan Request”); it being understood borrowing to the same extent that the Administrative Agent may rely on any telephonic request for a borrowing to the authority same extent that the Administrative Agent may rely on a written request. The Borrowers shall bear all risks related to the giving of borrowing requests telephonically.
(b) Subject to the provisions of this Agreement, the Lead Borrower may, on behalf of any individual making Borrower, request a Revolving Credit Loan and elect an interest rate and Interest Period to be applicable to that Revolving Credit Loan by giving notice to the Administrative Agent by no later than the following:
(i) If such Revolving Credit Loan is to be or is to be converted to a telephonic Base Margin Loan: By 2:00 p.m. on the Business Day on which the subject Revolving Credit Loan is to be made or is to be so converted (provided that if notice is furnished after 12:00 noon on any Business Day, the Revolving Credit Loan so requested shall be deemed a request without for a SwingLine Loan). Base Margin Loans requested by the necessity Lead Borrower, other than those resulting from the conversion of receipt a LIBOR Loan, shall not be less than $250,000 and in increments of $10,000 in excess of such written confirmationminimum.
(ii) If such Revolving Credit Loan is to be, or is to be continued as, or converted to, a LIBOR Loan: By 2:00 p.m. three (3) LIBOR Business Days before the commencement of any new Interest Period or the end of the then applicable Interest Period. Each LIBOR Loans and conversions to LIBOR Loans shall each be not less than $3,000,000 and in increments of $1,000,000 in excess of such minimum.
(iii) Any LIBOR Loan Request which matures while any Borrower is in Default shall be converted, at the option of the Administrative Agent, to a Base Margin Loan notwithstanding any notice from the Lead Borrower that such Loan is to be continued as a LIBOR Loan.
(iv) LIBOR Loans may not be converted or continued as LIBOR Loans at any time other than the end of the Interest Period applicable thereto unless the Borrowers shall pay, upon demand, any amounts due pursuant to Section 2.11(f) hereof.
(c) Any request for a Revolving Credit Loan or for the continuance or conversion of an interest rate applicable to a Revolving Credit Loan which is made after the applicable deadline therefor, as set forth above, shall be deemed to have been made at the opening of business on the then next Business Day or LIBOR Business Day, as applicable.
(d) The Lead Borrower may, on behalf of any Loan Party, request that the Administrative Agent cause the issuance by the Issuer of L/Cs or Banker's Acceptances for the account of the Borrowers as provided in Section 2.17.
(e) The Administrative Agent may rely on any request for a loan or advance, or other financial accommodation under the Revolving Credit which the Administrative Agent, in good faith, believes to have been made by a Person duly authorized to act on behalf of the Lead Borrower and may decline to make any such requested loan or advance, or issuance, or to provide any such financial accommodation pending the Administrative Agent's being furnished with such documentation concerning that Person's authority to act as may be satisfactory to the Administrative Agent.
(f) A request by the Lead Borrower for loan or advance, or other financial accommodation under the Revolving Credit shall be irrevocable and shall specify or certifyconstitute certification by each Borrower that as of the date of such request, as applicable each of the following is true and correct:
(i) There has been no material adverse change in the proposed Borrowing Date; Borrowers' financial condition from the most recent financial information furnished any Agent or any Revolving Credit Lender pursuant to this Agreement.
(ii) the aggregate amount Each representation which is made herein or in any of the proposed Loans comprising each Borrowing Tranche, which amount shall be Loan Documents is then true and complete in (x) an integral multiple all material respects as of $1,000,000 and not less than $5,000,000 for each Borrowing Tranche under as if made on the LIBOR Rate Option and (y) an integral multiple date of $50,000 and not less than such request except to the lesser extent that any of $500,000 or the maximum amount available for Borrowing Tranches same relates expressly to which the Base Rate Option applies; a different date.
(iii) whether Unless accompanied by a written Certificate of the LIBOR Rate Option Lead Borrower's President or Base Rate Option shall apply its Chief Financial Officer describing (in reasonable detail) the facts and circumstances of any Default then existing and the steps (if any) being taken to the proposed Loans comprising the applicable Borrowing Tranche; remedy such condition, that no Default has occurred and (iv) in the case of a Borrowing Tranche to which the LIBOR Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing Trancheis continuing.
Appears in 1 contract
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower may from time to time prior to the Expiration Date request the Lenders to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 10:00 a.m., (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans in Dollars to which the LIBOR Euro Rate Option applies or the conversion to or the renewal of the LIBOR Euro Rate Option for any Loans; (ii) not later than 10:00 a.m., (a) four (4) Business Days prior to the proposed Borrowing Date with respect to the making of Optional Currency Loans or the date of conversion to or renewal of the Euro Rate Option for any Optional Currency Loan, and (iib) the same Business Day of the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor signed by an Authorized Officer of the Borrower substantially in the form of Exhibit 2.5.1 or a request by telephone from any Authorized Officer of the Borrower immediately confirmed in writing by letter, facsimile or telex in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “Loan Request”); , it being understood that the Administrative Agent may rely on the authority of any individual Authorized Officer of the Borrower making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (iiA) the aggregate amount of the proposed Loans comprising each Borrowing Tranche, and, if applicable, the Interest Period, which amount shall be in (x) an integral multiple the minimum amount of $1,000,000 and not less than $5,000,000 500,000 (or the Dollar Equivalent thereof) for each Borrowing Tranche under the LIBOR Rate Option and Tranche, (yB) an integral multiple of $50,000 and not less than the lesser of $500,000 or the maximum amount available for Borrowing Tranches to which the Base Rate Option applies; (iii) whether the LIBOR Rate Option or Base Interest Rate Option shall apply to the proposed Dollar denominated Loans comprising the applicable Borrowing Tranche; , (C) the currency in which such Revolving Credit Loans shall be funded if the Borrower elects an Optional Currency, the applicable Interest Rate Option, and (ivD) in the case of a Borrowing Tranche to which the LIBOR Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing TranchePeriod, if applicable.
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Revolving Credit Loan Requests. Except as otherwise provided herein, subject (a) Requests for loans and advances under the Revolving Credit or for the continuance or conversion of an interest rate applicable to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, a Revolving Credit Loan may be requested by the Borrower in such manner as may from time to time prior be reasonably acceptable to the Expiration Date Agent.
(b) Subject to the provisions of this Agreement, the Borrower may request the Lenders to make a Revolving Credit Loans, or renew or convert the Loan and elect an interest rate and Interest Rate Option Period to be applicable to existing that Revolving Credit Loans pursuant to Section 4.2 [Interest Periods], Loan by delivering giving notice to the Administrative Agent, not Agent by no later than 11:00 a.m., the following:
(i) If such Revolving Credit Loan is to be or is to be converted to a Base Margin Loan: By 1:00 PM on the Business Day on which the subject Revolving Credit Loan is to be made or is to be so converted. Base Margin Loans requested by the Borrower, other than those resulting from the conversion of a LIBOR Loan, shall not be less than $10,000.00.
(ii) If such Revolving Credit Loan is to be, or is to be converted to, an LIBOR Loan: By 1:00 PM, at least three (3) LIBOR Business Days prior before the commencement of any new Interest Period or the end of the then applicable Interest Period. LIBOR Loans and conversions to LIBOR Loans shall each be not less than $1,000,000.00 and in increments of $100,000.00 in excess of such minimum.
(iii) Any LIBOR Loan which matures while an Event of Default exists may be converted, at the proposed Borrowing Date with respect option of the Agent, to a Base Margin Loan notwithstanding any notice from the making of Borrower that such Revolving Credit Loans Loan is to which be continued as a LIBOR Loan.
(c) Any request for a Revolving Credit Loan or for the LIBOR Rate Option applies continuance or the conversion to or the renewal of the LIBOR Rate Option for any Loans; and (ii) the same Business Day of the proposed Borrowing Date with respect to the making of a Revolving Credit Loan which is made after the applicable deadline therefor, as set forth above, shall be deemed to which have been made at the Base Rate Option applies opening of business on the then next Business Day or LIBOR Business Day, as applicable, unless the last day Agent, in its discretion, determines to deem it to have been made earlier. Each request for a Revolving Credit Loan or for the conversion of a Revolving Credit Loan shall be made in such manner as may from time to time be acceptable to the Agent.
(d) The Borrower may request that the Agent cause the issuance of L/C’s for the account of the preceding Interest Period with respect to Borrower as provided in Section 2.18.
(e) Following the conversion to Closing Date, the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 or a request by telephone immediately confirmed in writing in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “Loan Request”); it being understood that the Administrative Agent may rely on any request for a loan or advance, or other financial accommodation under the Revolving Credit which the Agent, in good faith, believes to have been made by a Person duly authorized to act on behalf of the Borrower and may decline to make any such requested loan or advance, or issuance, or to provide any such financial accommodation pending the Agent’s being furnished with such documentation concerning that Person’s authority of any individual making such a telephonic to act as may be reasonably satisfactory to the Agent.
(f) A request without by the necessity of receipt of such written confirmation. Each Loan Request Borrower for loan or advance or other financial accommodation under the Revolving Credit shall be irrevocable and shall specify or certifyconstitute certification by the Borrower that as of the date of such request, as applicable each of the following is true and correct:
(i) Each representation, not relating to a specific date, which is made herein or in any of the proposed Borrowing Date; Loan Documents is then true and correct in all material respects as of and as if made on the date of such request (except (A) to the extent of changes resulting from transactions contemplated or permitted by this Agreement or the other Loan Documents and changes occurring in the ordinary course of business and (B) to the extent that such representations and warranties expressly relate to an earlier date).
(ii) Neither a Default nor an Event of Default exists.
(g) If, at any time or from time to time, a Default or Event of Default exists and is continuing,
(i) The Agent may suspend the aggregate amount Revolving Credit immediately, in which event neither the Agent nor the Lenders shall be obligated during such suspension to make any additional loans or advances or to provide any additional financial accommodation hereunder or to seek the issuance of any L/C.
(ii) The Agent may suspend the right of the proposed Loans comprising each Borrowing Tranche, which amount shall be in (x) an integral multiple of $1,000,000 and not less than $5,000,000 for each Borrowing Tranche under the Borrower to request any LIBOR Rate Option and (y) an integral multiple of $50,000 and not less than the lesser of $500,000 Loan or the maximum amount available for Borrowing Tranches to which the convert any Base Rate Option applies; (iii) whether the Margin Loan to a LIBOR Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; and (iv) in the case of a Borrowing Tranche to which the LIBOR Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing TrancheLoan.
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Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower may from time to time prior to the Expiration Date request the Lenders Banks to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans or Term Loans pursuant to Section 4.2 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 a.m.noon Pittsburgh time, (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Euro-Rate Option applies or the conversion to or the renewal of the LIBOR Euro-Rate Option for any Loans; and (ii) the same Business Day of on the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 EXHIBIT 2.5 or a request by telephone immediately confirmed in writing by letter, facsimile or telex in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “Loan Request”"LOAN REQUEST"); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate amount of the proposed Loans comprising each Borrowing Tranche, which amount shall be in (x) an integral multiple multiples of $1,000,000 250,000 and not less than $5,000,000 1,000,000 for each Borrowing Tranche under to which the LIBOR Euro-Rate Option and (y) an integral multiple of $50,000 applies and not less than the lesser of $500,000 50,000 or the maximum amount available for Borrowing Tranches to which the Base Rate Option applies; (iii) whether the LIBOR Euro-Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; and (iv) in the case of a Borrowing Tranche to which the LIBOR Euro-Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing Tranche.
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Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower may from time to time prior to the Expiration Date request the Lenders to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 3.02 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 10:00 a.m., Cleveland time, (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Rate Option applies or the conversion to or the renewal of the LIBOR Rate Option for any Loans; , and (ii) the same Business Day of on the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or on the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any LoanLoan then subject to the LIBOR Option, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 2.05(A) or a request by telephone immediately confirmed in writing by letter, facsimile or telex in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “"Loan Request”"); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate amount of the proposed Loans comprising each Borrowing Tranche, which amount shall be in (x) an integral multiple multiples of $1,000,000 500,000 and not less than $5,000,000 2,500,000 for each Borrowing Tranche under to which the LIBOR Rate Option applies and (y) an integral multiple multiples of $50,000 500,000 and not less than the lesser of $500,000 1,000,000 or the maximum amount available for Borrowing Tranches to which the Base Rate Option applies; (iii) whether the LIBOR Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; and (iv) in the case of a Borrowing Tranche to which the LIBOR Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing Tranche.
Appears in 1 contract
Samples: Credit Agreement (Too Inc)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower may from time to time prior to the Expiration Date request the Lenders Banks to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 a.m.12:00 Noon, Pittsburgh time, (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Euro-Rate Option applies or the conversion to or the renewal of the LIBOR Euro-Rate Option for any Loans; and (ii) the same one (1) Business Day of prior to either the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 EXHIBIT 2.4.1 or a request by telephone immediately confirmed in writing by letter, facsimile or telex in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “"Loan Request”"); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate amount of the proposed Loans comprising each Borrowing Tranche, which amount shall be in (x) an integral multiple multiples of $1,000,000 500,000 and not less than $5,000,000 1,000,000 for each Borrowing Tranche under to which the LIBOR Euro-Rate Option and (y) an integral multiple of $50,000 applies and not less than the lesser of $500,000 or the maximum amount available for Borrowing Tranches to which the Base Rate Option applies; (iii) whether the LIBOR Euro-Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; and (iv) in the case of a Borrowing Tranche to which the LIBOR Euro-Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing Tranche.
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Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower may from time to time prior to the Expiration Date request the Lenders to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 [Interest Periods], by delivering to the Administrative Agent, Agent (i) not later than 11:00 a.m.1:00 p.m., (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Rate Option applies or the conversion to or the renewal of the LIBOR Rate Option for any Loans; and (ii) not later than 1:00 p.m., the same Business Day of the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 2.4 or a request by telephone immediately confirmed in writing by letter, facsimile or electronic mail in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “"Loan Request”"); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation, provided such individual purports to be an Authorized Officer. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate amount of the proposed Revolving Credit Loans comprising each Borrowing Tranche, the amount of which amount shall be in (x) an integral multiple multiples of $1,000,000 and not less than $5,000,000 3,000,000 for each Borrowing Tranche under to which the LIBOR Rate Option and (y) an integral multiple of $50,000 applies and not less than the lesser of $500,000 1,000,000 and in integral multiples of $100,000 or the maximum amount available for Borrowing Tranches to which the Base Rate Option applies; (iii) whether the LIBOR Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; and (iv) in the case of a Borrowing Tranche to which the LIBOR Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing Tranche.
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Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower may from time to time prior to the Expiration Date request the Lenders to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 a.m., (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Term SOFR Rate Option applies or the conversion to or the renewal of the LIBOR Term SOFR Rate Option for any Loans; and (ii) the same Business Day of the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 or a request by telephone immediately confirmed in writing in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “Loan Request”); it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate amount of the proposed Loans comprising each Borrowing Tranche, which amount shall be in (x) an integral multiple of $1,000,000 and not less than $5,000,000 for each Borrowing Tranche under the LIBOR Term SOFR Rate Option and (y) an integral multiple of $50,000 and not less than the lesser of $500,000 or the maximum amount available for Borrowing Tranches to which the Base Rate Option applies; (iii) whether the LIBOR Term SOFR Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; and (iv) in the case of a Borrowing Tranche to which the LIBOR Term SOFR Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing Tranche.
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Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the a Borrower may from time to time prior to the Expiration Date request the Lenders Banks to make Revolving Credit LoansLoans in Dollars, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans or Term Loans pursuant to Section 4.2 3.01(c) [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 10:00 a.m., New York time, (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Rate Option applies applies, or with respect to the conversion to or the renewal of the LIBOR Rate Option for any Loans; and (ii) the same one (1) Business Day of prior to either the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Committed Loan Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request Committed Loan Request therefor substantially in the form of Exhibit 2.5.1 2.05 or a request Committed Loan Request by telephone immediately confirmed in writing by letter, facsimile, email, or telex in such the form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “Loan Request”); it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmationExhibit. In addition, the UK Borrower may from time to time prior to the Expiration Date request to make Revolving Credit Loans in Alternate Currencies by delivering to the Agent, not later than 1:00 P.M., New York time, at least four Business Days prior to the Borrowing Date a duly completed Committed Loan Request substantially in the form of Exhibit 2.05 or a Committed Loan Request by telephone immediately confirmed in writing by letter, facsimile, email or telex in the form of such Exhibit. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the identity of the applicable Borrower; (ii) the respective Approved Currency for such Loan; (iii) the proposed Borrowing Date; (iiiv) the aggregate amount of the proposed Loans comprising each Borrowing TrancheTranche (stated in the applicable Approved Currency), which amount shall be in (x) an integral multiple multiples of $1,000,000 and not less than $5,000,000 for each Borrowing Tranche under to which the LIBOR Rate Option and (y) an integral multiple of $50,000 applies and not less than the lesser of $500,000 or the maximum amount available for Borrowing Tranches to which the Base Rate Option applies; (iiiv) whether the Committed Loan LIBOR Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; and (ivvi) in the case of a Borrowing Tranche to which the Committed Loan LIBOR Rate Option applies, an appropriate Committed Loan Interest Period for the Loans comprising such Borrowing Tranche.
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Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower may from time to time prior to the Expiration Date request that the Lenders to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans or pursuant to Section 4.2 3.2 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 a.m., Eastern time, (i) three i)three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR LIBO-Rate Option applies or the conversion to or the renewal of the LIBOR LIBO-Rate Option for any Loans; and (ii) on the same Business Day day of either the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 2.4.1 or a request by telephone immediately promptly confirmed in writing by letter or facsimile in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “"Loan Request”"); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the i)the proposed Borrowing Date; (ii) the aggregate amount of the proposed Loans comprising each Borrowing Tranche, which amount shall be in (x) an integral multiple multiples of $1,000,000 500,000 and not less than $5,000,000 2,500,000 for each Borrowing Tranche under to which the LIBOR LIBO-Rate Option applies and (y) an which shall be in integral multiple multiples of $50,000 100,000 and not less than the lesser of $500,000 or the maximum amount available for Borrowing Tranches to which the Base Rate Option applies; (iii) whether iii)whether the LIBOR LIBO-Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; and (iv) in iv)in the case of a Borrowing Tranche to which the LIBOR LIBO-Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing Tranche.
Appears in 1 contract
Samples: Revolving Credit Facility (Hovnanian Enterprises Inc)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower Borrowers may from time to time prior to the Expiration Date request the Lenders to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 a.m.12:00 noon, (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans in Dollars to which the LIBOR Euro-Rate Option applies or the conversion to or the renewal of the LIBOR Euro-Rate Option for any LoansLoans in Dollars; (ii) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans denominated in Canadian dollars or Euro or the date of conversion to or renewal of the Euro Rate Option for Revolving Credit Loans denominated in Canadian dollars or Euro; (iii) four (4) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans in an Optional Currency (other than Revolving Credit Loans denominated in Canadian dollars or Euro) or the date of conversion to or renewal of the Euro-Rate Option for Revolving Credit Loans in an Optional Currency; and (iiiv) the same Business Day of the proposed Borrowing Date with respect to the making of a Revolving Credit Loan denominated in Dollars to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 2.4.1 or a request by telephone immediately confirmed in writing by letter, facsimile or telex in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “Loan Request”); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (iiA) the aggregate amount of the proposed Loans (expressed in the currency in which such Loans shall be funded) comprising each Borrowing Tranche, and, if applicable, the Interest Period, which amount shall be in (x) an integral multiple multiples of $1,000,000 (or the Dollar Equivalent thereof) and not less than $5,000,000 (or the Dollar Equivalent thereof) for each Borrowing Tranche under the LIBOR Euro-Rate Option Option, and (y) an integral multiple multiples of $50,000 500,000 and not less than the lesser of $500,000 or the maximum amount available 1,000,000 for each Borrowing Tranches to which Tranche under the Base Rate Option appliesOption; (iiiB) whether the LIBOR Rate Option or Base which Interest Rate Option shall apply to the proposed Dollar denominated Loans comprising the applicable Borrowing Tranche; and , (ivC) the currency in which such Revolving Credit Loans shall be funded if a Borrower elects an Optional Currency, the case of a Borrowing Tranche to which the LIBOR applicable Interest Rate Option appliesOption, (D) an appropriate Interest Period for Period, and (E) which Borrower is requesting the Loans comprising such Borrowing TrancheRevolving Credit Loan. No Loan made in an Optional Currency may be converted into a Base Rate Loan, a Euro-Rate Loan or a Loan denominated in a different Optional Currency.
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Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower may from time to time prior to the Expiration Date request the Lenders to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 3.2 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 10:00 a.m., (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans in Dollars to which the LIBOR Euro-Rate Option applies or the conversion to or the renewal of the LIBOR Euro-Rate Option for any LoansLoans in Dollars; (ii) not later than 10:00 a.m., (a) four (4) Business Days prior to the proposed Borrowing Date with respect to the making of Optional Currency Loans or the date of conversion to or renewal of the Euro-Rate Option for any Optional Currency Loan, and (iib) the same Business Day of the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 or a request by telephone immediately confirmed in writing by letter, facsimile or telex in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “"Loan Request”"); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (iiA) the aggregate amount of the proposed Loans comprising each Borrowing Tranche, and, if applicable, the Interest Period, which amount shall be in (x) an integral multiple the minimum amount of $1,000,000 and not less than $5,000,000 1,000,000.00 (or the Dollar Equivalent thereof) for each Borrowing Tranche under the LIBOR Rate Option and Tranche, (yB) an integral multiple of $50,000 and not less than the lesser of $500,000 or the maximum amount available for Borrowing Tranches to which the Base Rate Option applies; (iii) whether the LIBOR Rate Option or Base Interest Rate Option shall apply to the proposed Dollar denominated Loans comprising the applicable Borrowing Tranche; , (C) the currency in which such Revolving Credit Loans shall be funded if the Borrower elects an Optional Currency, the applicable Interest Rate Option, and (ivD) in the case of a Borrowing Tranche to which the LIBOR Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing TranchePeriod, if applicable.
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Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower may from time to time prior to the Expiration Date request the Lenders to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 3.2 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 10:00 a.m., (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Rate Option applies or the date of conversion to or the renewal of the LIBOR Rate Option for any Loans; and (ii) on the same Business Day of the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 or a request by telephone immediately confirmed in writing by letter, facsimile or telex in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “Revolving Credit Loan Request”); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; Date and (ii) the aggregate amount of the proposed Loans comprising each Borrowing Tranche, and, if applicable, the Interest Period, which amount amounts shall be in integral multiples of One Million and 00/100 Dollars (x$1,000,000.00) an integral multiple of $1,000,000 and not less than Five Million and 00/100 Dollars ($5,000,000 5,000,000.00) for each Borrowing Tranche under the LIBOR Rate Option and shall be in integral multiples of Five Hundred Thousand and 00/100 Dollars (y$500,000.00) an integral multiple of $50,000 and not less than the lesser of One Million and 00/100 Dollars ($500,000 1,000,000.00) or the maximum amount available for each Borrowing Tranches to which Tranche under the Base Rate Option applies; (iii) whether the LIBOR Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; and (iv) in the case of a Borrowing Tranche to which the LIBOR Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing TrancheOption.
Appears in 1 contract
Samples: Revolving Credit Facility (Mine Safety Appliances Co)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower may from time to time prior to the Expiration Date request the Lenders to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 a.m.12:00 noon, (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Rate Option applies or the conversion to or the renewal of the LIBOR Rate Option for any Loans; and (ii) the same Business Day of the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 or a request by telephone immediately confirmed in writing by letter, facsimile or telex in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “Loan Request”); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable the (iA) the proposed Borrowing Date; , (iiB) the aggregate amount of the proposed Loans comprising each Borrowing Tranche, and, if applicable, the Interest Period, which amount amounts shall be in (x1) an integral multiple multiples of $1,000,000 2,000,000 and not less than $5,000,000 2,000,000 for each Borrowing Tranche under the LIBOR Rate Option Option, and (y2) an integral multiple of $50,000 and not less than the lesser of $500,000 100,000 or the maximum amount available for Borrowing Tranches to which for each Borrowing Tranche under the Base Rate Option applies; Option, (iiiC) whether the LIBOR Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; and (ivD) in the case of a Borrowing Tranche to which the LIBOR Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing Tranche.
Appears in 1 contract
Samples: Revolving Credit Facility (Rhino Resource Partners LP)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower Co-Borrowers may from time to time prior to the Revolving Credit Expiration Date request the Lenders Banks to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 [Interest Periods]Loans, by delivering the delivery to the Administrative Agent, not later than 11:00 a.m.2:00 p.m., Cincinnati time, (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Euro-Rate Option applies or the conversion to or the renewal of the LIBOR Euro-Rate Option for any Revolving Credit Loans; , and (ii) the same Business Day of not later than 11:00 a.m., Cincinnati time, on the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Euro-Rate Interest Period with respect to the conversion to the Base Rate Option for any Revolving Credit Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 2.5(a) or a request by telephone immediately confirmed in writing in such form and delivered by letter, facsimile or email (in “pdf,” “tif” or similar format) telex (each, a “"Revolving Credit Loan Request”" or "Loan Request"); , it being understood that the Administrative Agent may rely on the authority of any individual person making such a telephonic request without the necessity of receipt of such written confirmation. Each Revolving Credit Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate principal amount of the proposed Revolving Credit Loans comprising each the Borrowing Tranche, which amount shall be in (x) an integral multiple multiples of $1,000,000 250,000 and not less than $5,000,000 750,000 for each Borrowing Tranche under Revolving Credit Loans to which the LIBOR Euro-Rate Option and (y) an integral multiple of $50,000 applies and not less than the lesser of $500,000 or the maximum amount available under the Revolving Credit Commitments for Borrowing Tranches Revolving Credit Loans to which the Base Rate Option applies; (iii) whether the LIBOR Euro-Rate Option or the Base Rate Option shall apply to the proposed Revolving Credit Loans comprising the applicable Borrowing Tranche; and (iv) in the case of a Borrowing Tranche Revolving Credit Loans to which the LIBOR Euro-Rate Option applies, an appropriate Euro-Rate Interest Period for the proposed Revolving Credit Loans comprising such the Borrowing Tranche. If no such notice is given at least three (3) Business Days prior to the expiration of any Euro-Rate Interest Period for any Revolving Credit Loan or portion thereof, the Co-Borrowers shall be deemed to have converted such Revolving Credit Loan or portion thereof to the Base Rate Option commencing upon the last day of that Euro-Rate Interest Period.
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Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower may from time to time prior to the Expiration Date request the Lenders Banks to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans or Term Loans pursuant to Section 4.2 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 10:00 a.m., Pittsburgh time, (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Euro-Rate Option applies or the conversion to or the renewal of the LIBOR Euro-Rate Option for any Loans; and (ii) the same one (1) Business Day of prior to either the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 or a request by telephone immediately confirmed in writing by letter, facsimile or telex in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “Loan Request”); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate amount of the proposed Loans comprising each Borrowing Tranche, which amount shall be in (x) an integral multiple multiples of $1,000,000 250,000 and not less than $5,000,000 250,000 for each Borrowing Tranche under to which the LIBOR Euro-Rate Option and (y) an integral multiple of $50,000 applies and not less than the lesser of $500,000 250,000 or the maximum amount available for Borrowing Tranches to which the Base Rate Option applies; (iii) whether the LIBOR Euro-Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; and (iv) in the case of a Borrowing Tranche to which the LIBOR Euro-Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing Tranche.
Appears in 1 contract
Samples: Credit Agreement (Ii-Vi Inc)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower may from time to time prior to the Expiration Date request the Lenders to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 10:00 a.m., (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans in Dollars to which the LIBOR Euro-Rate Option applies or the conversion to or the renewal of the LIBOR Euro-Rate Option for any LoansLoans in Dollars; (ii) not later than 10:00 a.m., (a) four (4) Business Days prior to the proposed Borrowing Date with respect to the making of Optional Currency Loans or the date of conversion to or renewal of the Euro-Rate Option for any Optional Currency Loan, and (iib) the same Business Day of the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 or a request by telephone immediately promptly (and in any event by 2:00 p.m. on such day) confirmed in writing by letter, facsimile or telex in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “Loan Request”); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (iiA) the aggregate amount of the proposed Loans comprising each Borrowing Tranche, which amount shall be in the minimum amount of $5,000,000 (x) an or the Dollar Equivalent thereof), and in integral multiple multiples of $1,000,000 and not less than $5,000,000 (or the Dollar Equivalent thereof) in excess thereof, for each Borrowing Tranche under the LIBOR Rate Option and Tranche, (yB) an integral multiple of $50,000 and not less than the lesser of $500,000 or the maximum amount available for Borrowing Tranches to which the Base Rate Option applies; (iii) whether the LIBOR Rate Option or Base Interest Rate Option shall apply to the proposed Dollar denominated Loans comprising the applicable Borrowing Tranche; and , (ivC) the currency in the case of a which each Borrowing Tranche to which shall be funded if the LIBOR Rate Option appliesBorrower elects an Optional Currency, (D) an appropriate Interest Period for Period, if applicable, and (E) the Loans comprising such proposed Borrowing TrancheDate.
Appears in 1 contract
Samples: Credit Agreement (Ferroglobe PLC)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to TGI, on behalf of the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower Borrowers may from time to time prior to the Expiration Date request the Lenders Banks to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 [Interest Periods]4.3, by delivering to the Administrative Agent, not later than 11:00 a.m., (i) 2:00 p.m., Pittsburgh time, three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Euro-Rate Option applies or the date of conversion to or the renewal of the LIBOR Euro-Rate Option for any such Loans; and (ii) the same Business Day of 10:30 a.m., Pittsburgh time on either the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any LoanLoan to which the Euro-Rate Option applies, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 2.4 or a request by telephone immediately confirmed in writing by letter, or facsimile in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “Loan Request”); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate amount of the proposed Loans comprising each Borrowing Tranche, the amount of which amount shall be in (x) an integral multiple multiples of $1,000,000 500,000 and not less than $5,000,000 2,000,000 for each Borrowing Tranche under to which the LIBOR Euro-Rate Option and (y) an integral multiple of $50,000 applies and not less than the lesser of $500,000 200,000 or the maximum amount available for Borrowing Tranches to which the Base Rate Option applies; (iii) whether the LIBOR Euro-Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; and (iv) in the case of a Borrowing Tranche to which the LIBOR Euro-Rate Option applies, an appropriate Interest Period for the proposed Loans comprising such Borrowing Tranche. If TGI (i) fails to specify an interest rate option to be applicable to a Borrowing Tranche of Loans, the Borrowers shall be deemed to have requested the Base Rate Option with respect to such Borrowing Tranche, or (ii) elects the Euro-Rate option but fails to specify an Interest Period to apply to the applicable Loans, such Interest Period shall be one (1) month.
Appears in 1 contract
Samples: Credit Agreement (Triumph Group Inc)
Revolving Credit Loan Requests. Except as otherwise provided herein, herein (and subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof4.5 [Selection of Interest Rate Options], the Borrower may from time to time prior to the Expiration Date request the Lenders to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans or Term Loans pursuant to Section 4.2 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 10:00 a.m., (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Rate Option applies or the conversion to or the renewal of the LIBOR Rate Option for any Loans; and (ii) the same one (1) Business Day of prior to either the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 or a request by telephone immediately confirmed in writing by letter, facsimile or telex in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “"Loan Request”"); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate amount of the proposed Loans comprising each Borrowing Tranche, and, if applicable, the Interest Period, which amount amounts shall be in (x) an integral multiple multiples of $1,000,000 500,000 and not less than $5,000,000 1,000,000 for each Borrowing Tranche under the LIBOR Rate Option and (y) an in integral multiple multiples of $50,000 100,000 and not less than the lesser of $500,000 or the maximum amount available for Borrowing Tranches to which under the Base Rate Option applies; (iii) whether the LIBOR Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; and (iv) in the case of a Borrowing Tranche to which the LIBOR Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing TrancheOption.
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Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower Borrowers may from time to time prior to the Expiration Date request the Lenders to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 [Interest Periods]3.2, by delivering to the Administrative Agent, not later than 11:00 10:30 a.m., Pittsburgh time, (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans in Dollars to which the LIBOR Euro-Rate Option applies or the conversion to or the renewal of the LIBOR Euro-Rate Option for any Loans; such Loans and four (4) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans in an Optional Currency or the date of conversion to or renewal of the Euro-Rate Option for Revolving Credit Loans in an Optional Currency and (ii) the same Business Day of on either the proposed Borrowing Date (which shall be a Business Day) with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 2.4 or a request by telephone immediately confirmed in writing by letter, facsimile or telex in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “Loan Request”); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate amount of the proposed Loans (expressed in the currency in which such Loans shall be funded) comprising each Borrowing Tranche, the Dollar Equivalent amount of which amount shall be in (x) an integral multiple multiples of $1,000,000 100,000.00 and not less than $5,000,000 2,000,000.00 for each Borrowing Tranche under to which the LIBOR Euro-Rate Option and (y) an integral multiple of $50,000 applies and not less than the lesser of $500,000 or 2,000,000.00 and the maximum amount available for Borrowing Tranches to which the Base Rate Option applies; (iii) whether the LIBOR Euro-Rate Option or Base Rate Option shall apply to the proposed Revolving Credit Loans comprising the applicable Borrowing Tranche; (iv) the currency in which such Loans shall be funded if the Borrowers are electing the Euro-Rate Option; and (ivv) in the case of a Borrowing Tranche to which the LIBOR Euro-Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing Tranche.
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Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower may from time to time prior to the Revolving Credit Facility A Expiration Date request the Lenders Banks to make Revolving Credit Facility A Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Facility A Loans pursuant to Section 4.2 0 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 10:00 a.m., Pittsburgh time, (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Facility A Loans to which the LIBOR Euro-Rate Option applies or the conversion to or the renewal of the LIBOR Euro-Rate Option for any Loans; and (ii) the same one (1) Business Day of prior to either the proposed Borrowing Date with respect to the making of a Revolving Credit Facility A Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 2.4 or a request by telephone immediately confirmed in writing by letter or facsimile in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “"Loan Request”"); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate amount of the proposed Loans comprising each Borrowing Tranche, which amount shall be in (x) an integral multiple multiples of $1,000,000 500,000 and not less than $5,000,000 1,000,000 for each Borrowing Tranche under to which the LIBOR Euro-Rate Option and (y) an integral multiple of $50,000 applies and not less than the lesser of $500,000 100,000 or the maximum amount available for Borrowing Tranches to which the Base Rate Option applies; (iii) whether the LIBOR Euro-Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; and (iv) in the case of a Borrowing Tranche to which the LIBOR Euro-Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing Tranche.
Appears in 1 contract
Samples: Credit Agreement (Compudyne Corp)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower may from time to time prior to the Expiration Date request the Lenders Banks to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 [Interest Periods]4.2, by delivering to the Administrative Agent, not later than 11:00 10:00 a.m., Louisville time, (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Euro-Rate Option applies or the conversion to or the renewal of the LIBOR Euro-Rate Option for any -23- Revolving Credit Loans; , and (ii) the same one (1) Business Day of prior to either the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Revolving Credit Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 2.5 or a request by telephone ----------- immediately confirmed in writing by letter, facsimile or telex in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “"Loan Request”"); , it being understood that the Administrative Agent may ------------ rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Revolving Credit Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate amount of the proposed Revolving Credit Loans comprising each Borrowing Tranche, which amount shall be in (x) an integral multiple multiples of $1,000,000 100,000 and not less than $5,000,000 2,000,000 for each Borrowing Tranche under to which the LIBOR Euro-Rate Option and (y) an integral multiple of $50,000 applies and not less than the lesser of $500,000 100,000 or the maximum amount available for Borrowing Tranches to which the Base Rate Option applies; (iii) whether the LIBOR Euro-Rate Option or Base Rate Option shall apply to the proposed Revolving Credit Loans comprising the applicable Borrowing Tranche; and (iv) in the case of a Borrowing Tranche to which the LIBOR Euro-Rate Option applies, an appropriate Interest Period for the proposed Revolving Credit Loans comprising such Borrowing Tranche.
Appears in 1 contract
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower may from time to time prior to the Expiration Date request the Lenders Banks to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans or Term Loans pursuant to Section 4.2 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 a.m., Pittsburgh time, (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Euro-Rate Option applies or the conversion to or the renewal of the LIBOR Euro-Rate Option for any Loans; and (ii) the same Business Day of on either the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 or a request by telephone immediately confirmed in writing by letter, facsimile or telex in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “"Loan Request”"); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate amount of the proposed Loans comprising each Borrowing Tranche, which amount shall be in (x) an integral multiple multiples of $1,000,000 500,000 and not less than $5,000,000 1,000,000 for each Borrowing Tranche under to which the LIBOR Euro-Rate Option and (y) an integral multiple of $50,000 applies and not less than the lesser of $500,000 100,000 or the maximum amount available for Borrowing Tranches to which the Base Rate Option applies; (iii) whether the LIBOR Euro-Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; and (iv) in the case of a Borrowing Tranche to which the LIBOR Euro-Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing Tranche.
Appears in 1 contract
Samples: Credit Agreement (Koppers Inc)
Revolving Credit Loan Requests. Except as otherwise provided herein, herein (and subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof4.6 [Selection of Interest Rate Options]), the Borrower may from time to time prior to the Expiration Date request the Lenders to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 4.3 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 10:00 a.m., (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Rate Option applies or the conversion to or the renewal of the LIBOR Rate Option for any Loans; and (ii) the same one (1) Business Day of prior to either the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 or a request by telephone immediately confirmed in writing by letter, facsimile or telex in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “"Loan Request”"); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. confirmation Each Loan Loa Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate amount of the proposed Loans Loa comprising each Borrowing Tranche, and applicable, the Interest Period, which amount amounts shall be in (x) an integral multiple of $1,000,000 multiples of$500,000 and not less than $5,000,000 1,000,000 for each Borrowing Tranche Trauche under the LIBOR LlBOR Rate Option and (y) an in integral multiple multiples of $50,000 100,000 and not less than the lesser of $500,000 or the maximum amount available for Borrowing Tranches to which Trauches under the Base Rate Option applies; (iii) whether the LIBOR Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; and (iv) in the case of a Borrowing Tranche to which the LIBOR Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing TrancheOption.
Appears in 1 contract
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower Borrowers may from time to time prior to the Expiration Date request the Lenders Bank to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 [Interest Periods], by delivering to the Administrative AgentBank, not later than 11:00 a.m., 10:00 a.m. Pacific Time,
(ia) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans denominated in Dollars to which the LIBOR Term SOFR Rate Option applies or the conversion applies;
(b) four (4) Business Days prior to or the renewal of the LIBOR Rate Option for any Loans; and (ii) the same Business Day of the proposed Borrowing Date with respect to the making of a Revolving Credit Loan Loans denominated in Alternative Currencies to which the Base Eurocurrency Rate Option applies or applies; and/or
(c) four (4) Business Days prior to the last day of the preceding Interest Period proposed Borrowing Date with respect to the conversion making of Revolving Credit Loans denominated in Alternative Currencies to which the Base Rate Term RFR Option for any Loanapplies, of in each case, a duly completed request therefor substantially in the form of Exhibit 2.5.1 C or a request by telephone immediately confirmed in writing by letter, facsimile or telex in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “Loan Request”); , it being understood that the Administrative Agent Bank may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certifythe Currency, as applicable (i) the proposed Borrowing Date; (ii) Interest Rate Option, and the aggregate amount of the proposed Loans comprising each Borrowing Tranche, which amount amounts shall be in (x) an integral multiple multiples of the Dollar Equivalent of $1,000,000 100,000.00 and not less than the Dollar Equivalent of $5,000,000 1,000,000.00 for each Borrowing Tranche under the LIBOR a Term Rate Option and (y) an integral multiple of $50,000 and not less than the lesser of $500,000 or the maximum amount available for Borrowing Tranches to which the Base Rate Option applies; (iii) whether the LIBOR Rate Option or Base Rate Option shall apply Loan Option. Subject to the proposed terms and conditions of this Agreement, at the end of each Interest Period applicable to any Borrowing Tranche of Loans comprising that bears interest under a Term Rate Loan Option, then, unless the applicable Borrowing Tranche; and (iv) Tranche is repaid as provided herein, such Borrowing Tranche shall automatically be continued under the applicable Term Rate Loan Option in its original Currency with the same Interest Period at the end of such Interest Period. In the case of the renewal of a Borrowing Tranche to which Term Rate Loan Option at the LIBOR Rate Option appliesend of an Interest Period, an appropriate the first day of the new Interest Period shall be the last day of the preceding Interest Period, without duplication in payment of interest for the Loans comprising such Borrowing Trancheday. No Loan denominated in any Currency may be converted into a Loan denominated in a different Currency.
Appears in 1 contract
Revolving Credit Loan Requests. Except (a) Requests for loans and advances under the Revolving Credit or for the continuance or conversion of an interest rate applicable to a Revolving Credit Loan may be requested by the Lead Borrower in such manner as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower may from time to time prior be acceptable to the Expiration Date request the Lenders to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 [Interest Periods], by delivering Agent.
(b) Subject to the Administrative Agentprovisions of this Agreement, not later than 11:00 a.m., (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Rate Option applies or the conversion to or the renewal of the LIBOR Rate Option for any Loans; and (ii) the same Business Day of the proposed Borrowing Date with respect to the making of Lead Borrower may request a Revolving Credit Loan and elect an interest rate and Interest Period to be applicable to that Revolving Credit Loan by giving notice to the Agent by no later than the following:
(i) If such Revolving Credit Loan is to be or is to be converted to a Prime Margin Loan: By 2:00 PM on the Business Day on which the Base Rate Option applies subject Revolving Credit Loan is to be made or is to be so converted. Prime Margin Loans requested by the Lead Borrower, other than those resulting from the conversion of a Libor Loan, shall not be less than $10,000.00.
(ii) If such Revolving Credit Loan is to be, or is to be continued as, or converted to, a Libor Loan: By 2:00PM Three (3) Libor Business Days before the commencement of any new Interest Period or the last day end of the preceding then applicable Interest Period with respect Period. Libor Loans and conversions to Libor Loans shall each be not less than $1,000,000.00 and in increments of $500,000.00 in excess of such minimum.
(iii) Any Libor Loan which matures while any Borrower is In Default shall be converted, at the option of the Agent, to a Prime Margin Loan notwithstanding any notice from the Lead Borrower that such Loan is to be continued as a Libor Loan.
(c) Any request for a Revolving Credit Loan or for the continuance or conversion of an interest rate applicable to a Revolving Credit Loan which is made after the Base Rate Option for any Loanapplicable deadline therefor, as set forth above, shall be deemed to have been made at the opening of a duly completed business on the then next Business Day or Libor Business Day, as applicable.
(d) The Lead Borrower may request therefor substantially in the form of Exhibit 2.5.1 or a request by telephone immediately confirmed in writing in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “Loan Request”); it being understood that the Administrative Agent cause the issuance by the Issuer of L/C's for the account of the Borrowers as provided in Section 2.18.
(e) The Agent may rely on any request for a loan or advance, or other financial accommodation under the Revolving Credit which the Agent, in good faith, believes to have been made by a Person duly authorized to act on behalf of the Lead Borrower and may decline to make any such requested loan or advance, or issuance, or to provide any such financial accommodation pending the Agent's being furnished with such documentation concerning that Person's authority of any individual making such a telephonic to act as may be satisfactory to the Agent.
(f) A request without by the necessity of receipt of such written confirmation. Each Loan Request Lead Borrower for loan or advance, or other financial accommodation under the Revolving Credit shall be irrevocable and shall specify or certifyconstitute certification by each Borrower that as of the date of such request, as applicable each of the following is true and correct:
(i) There has been no Material Adverse Change in the proposed Borrowing Date; Borrowers' financial condition from the most recent financial information furnished Agent or any Revolving Credit Lender pursuant to this Agreement.
(ii) All or a portion of any loan or advance so requested will be set aside by the aggregate amount Borrowers to cover the Borrowers' obligations for sales tax on account of sales since the proposed Loans comprising each Borrowing Tranche, which amount shall be in (x) an integral multiple of $1,000,000 and not less than $5,000,000 for each Borrowing Tranche under then most recent borrowing pursuant to the LIBOR Rate Option and (y) an integral multiple of $50,000 and not less than the lesser of $500,000 or the maximum amount available for Borrowing Tranches to which the Base Rate Option applies; Revolving Credit.
(iii) whether Each representation which is made herein or in any of the LIBOR Rate Option or Base Rate Option shall apply to Loan Documents is then true and complete as of and as if made on the proposed Loans comprising the applicable Borrowing Tranche; and date of such request.
(iv) That no Borrower is In Default, or if a Borrower is In Default, it shall be accompanied by a written Certificate of the Lead Borrower's President or its Chief Financial Officer describing (in reasonable detail) the case of a Borrowing Tranche facts and circumstances thereof and the steps (if any) being taken to which remedy such condition (but such Certificate shall not relieve the LIBOR Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing Tranchespecified Borrower from being In Default).
Appears in 1 contract
Samples: Loan and Security Agreement (Childrens Place Retail Stores Inc)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower Borrowers may from time to time prior to the Expiration Date request the Lenders Banks to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 4.3 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 10:00 a.m., Pittsburgh time, (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Euro-Rate Option applies or the conversion to or the renewal of the LIBOR Euro-Rate Option for any Loans; and (ii) the same one (1) Business Day of prior to either the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 2.5 or a request by telephone immediately confirmed in writing by letter, facsimile or telex in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “"Loan Request”"); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate amount of the proposed Loans comprising each Borrowing Tranche, which amount shall be in (x) an integral multiple whole integer multiples of $1,000,000 100,000 and not less than $5,000,000 500,000 for each Borrowing Tranche under to which the LIBOR Euro- Rate Option and (y) an integral multiple of $50,000 applies and not less than the lesser of $500,000 or the maximum amount available for Borrowing Tranches to which the Base Rate Option applies; (iii) whether the LIBOR Euro-Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; and (iv) in the case of a Borrowing Tranche to which the LIBOR Euro-Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing Tranche.
Appears in 1 contract
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower Borrowers may from time to time prior to the Expiration Date request the Lenders to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 a.m.12:00 p.m., (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans in Dollars to which the LIBOR Euro-Rate Option applies or the conversion to or the renewal of the LIBOR Euro-Rate Option for any LoansLoans in Dollars; (ii) four (4) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans in an Optional Currency or the date of conversion to or renewal of the Euro-Rate Option for Revolving Credit Loans in an Optional Currency; and (iiiii) the same Business Day of the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 2.3 or a request by telephone immediately confirmed in writing by letter, facsimile or telex in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “Loan Request”); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate amount of the proposed Loans (expressed in the currency in which such Loans shall be funded) comprising each Borrowing Tranche, the Dollar Equivalent amount of which amount shall be in (x) an integral multiple multiples of $1,000,000 500,000 and not less than $5,000,000 1,000,000 for each Borrowing Tranche to which the Euro-Rate Option applies and (y) integral multiples of $100,000 and not less than $500,000 for each Borrowing Tranche under the LIBOR Rate Option and (y) an integral multiple of $50,000 and not less than the lesser of $500,000 or the maximum amount available for Borrowing Tranches to which the Base Rate Option appliesOption; (iiiii) whether the LIBOR Euro-Rate Option or Base Rate Option shall apply to the proposed Revolving Credit Loans comprising the applicable Borrowing Tranche; and (iii) the currency in which such Loans shall be funded if the Borrowers are electing the Euro-Rate Option; (iv) in the case of a Borrowing Tranche to which the LIBOR Euro-Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing Tranche; and (v) which Borrower is requesting the Revolving Credit Loan.
Appears in 1 contract
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and applicable Borrower, or the other terms and conditions hereofLead Borrower on behalf of the applicable Borrower, the Borrower may from time to time prior to the Expiration Date request the Lenders to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 3.2 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 a.m.1:00 216004669 p.m., (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans in Dollars to which the LIBOR Euro-Rate Option applies or the conversion to or the renewal of the LIBOR Euro-Rate Option for any LoansLoans in Dollars; (ii) not later than 1:00 p.m., (i) four (4) Business Days prior to the proposed Borrowing Date with respect to the making of Optional Currency Loans or the date of renewal of the Euro-Rate Option for any Optional Currency Loan, and (iiiii) the same Business Day of the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 2.4.1 or a request by telephone immediately confirmed in writing in such form and delivered by facsimile letter, facsimile, or email e-mail (in “pdf,” ”, “tif” or similar format) in such form (each, a “Revolving Credit Loan Request”); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Revolving Credit Loan Request shall be irrevocable and shall specify or certify(A) the name of the applicable Borrower, as applicable (iB) the proposed Borrowing Date; , (iiC) the aggregate amount of the proposed Loans comprising each applicable Borrowing Tranche, which amount shall be in integral multiples of One Million and 00/100 Dollars (x$1,000,000.00) an integral multiple of $1,000,000 (or the Dollar Equivalent thereof) and not less than Five Million and 00/100 Dollars ($5,000,000 5,000,000.00) (or the Dollar Equivalent thereof) for each Borrowing Tranche under the LIBOR Euro-Rate Option Option, and in integral multiples of Five Hundred Thousand and 00/100 Dollars (y$500,000.00) an integral multiple of $50,000 and not less than the lesser of One Million and 00/100 Dollars ($500,000 1,000,000.00) or the maximum amount available for each Borrowing Tranches to which Tranche under the Base Rate Option applies; Option, (iiiD) whether the LIBOR Euro-Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; , (E) the currency in which such Revolving Credit Loans shall be funded if the applicable Borrower elects the Euro-Rate Option, and (ivF) in the case of a Borrowing Tranche to which the LIBOR Euro-Rate Option applies, an appropriate the Interest Period for the Loans comprising such Borrowing Tranche.
Appears in 1 contract
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower may from time to time prior to the Expiration Date request the Lenders Banks to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 3.2 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 10:00 a.m., Pittsburgh time, (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Euro-Rate Option applies or the conversion to or the renewal of the LIBOR Euro-Rate Option for any Loans; and (ii) the same one (1) Business Day of prior to either the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 or a request by telephone immediately confirmed in writing by letter, facsimile or telex in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “"Loan Request”"); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate amount of the proposed Loans comprising each Borrowing Tranche, which amount shall be in integral multiples of One Million and 00/100 Dollars (x$1,000,000.00) an integral multiple of $1,000,000 and not less than Two Million and 00/100 Dollars ($5,000,000 2,000,000.00) for each Borrowing Tranche under to which the LIBOR Euro-Rate Option applies and integral multiples of One Hundred Thousand and 00/100 Dollars (y$100,000.00) an integral multiple of $50,000 and not less than the lesser of Five Hundred Thousand and 00/100 Dollars ($500,000 500,000.00) or the maximum amount available for Borrowing Tranches to which the Base Rate Option applies; (iii) whether the LIBOR Euro-Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; and (iv) in the case of a Borrowing Tranche to which the LIBOR Euro-Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing Tranche.
Appears in 1 contract
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower may from time to time prior to the Revolving Credit Expiration Date request the Lenders to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans or Incremental Term Loans pursuant to Section 4.2 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 a.m.12:00 noon, (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans in Dollars to which the LIBOR Term SOFR Rate Option applies or the conversion to or the renewal of the LIBOR Term SOFR Rate Option for any Loans; Loans in Dollars, (ii) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Optional Currency Loans to which the Eurocurrency Rate Option applies or the date of conversion to or renewal of the Eurocurrency Rate Option for any Optional Currency Loan, (iii) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Optional Currency Loans to which the Daily Simple RFR Option applies or the date of conversion to or renewal of the Daily Simple RFR Option for any Optional Currency Loan and (iiiv) the same Business Day of the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 or a request by telephone immediately confirmed in writing by letter, facsimile or telex in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “Loan Request”); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (iiA) the aggregate amount of the proposed Loans comprising each Borrowing Tranche, and, if applicable, the Interest Period, which amount shall be in (x) an integral multiple the minimum amount of $1,000,000 and not less than $5,000,000 500,000 (or the Dollar Equivalent thereof) for each Borrowing Tranche under the LIBOR Rate Option and Tranche, (yB) an integral multiple of $50,000 and not less than the lesser of $500,000 or the maximum amount available for Borrowing Tranches to which the Base Rate Option applies; (iii) whether the LIBOR Rate Option or Base Interest Rate Option shall apply to the proposed Dollar denominated Loans comprising the applicable Borrowing Tranche; Tranche and (ivC) the currency in which such Revolving Credit Loans shall be funded if the case of a Borrowing Tranche to which Borrower elects an Optional Currency and the LIBOR applicable Interest Rate Option applies, an appropriate and Interest Period for the Loans comprising such Borrowing Tranche(if applicable).
Appears in 1 contract
Samples: Credit Agreement (Vertex, Inc.)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower may from time to time prior to the Expiration Date request the Lenders to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans or Term Loans pursuant to Section 4.2 [Interest Periods], by delivering delivery to the Administrative Agent, not later than 11:00 10:00 a.m., (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Rate Option applies or the conversion to or the renewal of the LIBOR Rate Option for any Loans; and (ii) and not later than 10:00 a.m. on the same Business Day of the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 2.4(1) or a request by telephone immediately confirmed in writing by letter, facsimile or telex in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “Loan Request”); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate amount of the proposed Loans comprising each Borrowing Tranche, and, if applicable, the Interest Period, which amount amounts shall be in (x) an integral multiple multiples of $1,000,000 300,000.00 and not less than $5,000,000 300,000.00 for each Borrowing Tranche under the LIBOR Rate Option and (y) an in integral multiple multiples of $50,000 100,000.00 and not less than the lesser of $500,000 or the maximum amount available 300,000.00 for each Borrowing Tranches to which Tranche under the Base Rate Option applies; (iii) whether the LIBOR Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; and (iv) in the case of a Borrowing Tranche to which the LIBOR Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing TrancheOption.
Appears in 1 contract
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower may from time to time prior to the Expiration Date request that the Lenders to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans or pursuant to Section 4.2 3.2 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 a.m., Eastern time, (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Rate Option applies or the conversion to or the renewal of the LIBOR Rate Option for any Loans; and (ii) on the same Business Day day of either the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option or Index Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option or Index Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 2.4.1 or a request by telephone immediately promptly confirmed in writing by letter or facsimile in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “Loan Request”); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate amount of the proposed Loans comprising each Borrowing Tranche, which amount shall be in (x) an integral multiple multiples of $1,000,000 500,000 and not less than $5,000,000 2,500,000 for each Borrowing Tranche under to which the LIBOR Rate Option applies and (y) an which shall be in integral multiple multiples of $50,000 100,000 and not less than the lesser of $500,000 or the maximum amount available for Borrowing Tranches to which the Base Rate Option or Index Rate Option applies; (iii) whether the LIBOR Rate Option Option, Base Rate Option, or Base Index Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; and (iv) in the case of a Borrowing Tranche to which the LIBOR Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing Tranche.
Appears in 1 contract
Samples: Revolving Credit Facility (Hovnanian Enterprises Inc)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower may from time to time prior to the Expiration Date request the Lenders Banks to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans or Term Loans pursuant to Section 4.2 0 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 10:00 a.m., Pittsburgh time, (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Euro-Rate Option applies or the conversion to or the renewal of the LIBOR Euro-Rate Option for any Loans; and (ii) the same one (1) Business Day of prior to either the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 EXHIBIT 2.5 or a request by telephone immediately confirmed in writing by letter, facsimile or telex in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “"Loan Request”"); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate amount of the proposed Loans comprising each Borrowing Tranche, which amount shall be in (x) an integral multiple multiples of $1,000,000 500,000 and not less than $5,000,000 1,000,000 for each Borrowing Tranche under to which the LIBOR Euro-Rate Option applies and (y) an in integral multiple multiples of $50,000 and 250,000 not less than the lesser of $500,000 250,000 or the maximum amount available for Borrowing Tranches to which the Base Rate Option applies; (iii) whether the LIBOR Euro-Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; and (iv) in the case of a Borrowing Tranche to which the LIBOR Euro-Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing Tranche. Borrower may relend the proceeds of Revolving Credit Loans to Loan Parties other than Orius provided such loan is treated as an intercompany loan on the books and records of the parties and is not evidenced by a promissory note.
Appears in 1 contract
Samples: Credit Agreement (Orius Corp)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower may from time to time prior to the Expiration Date request the Lenders to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans or Term Loans pursuant to Section 4.2 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 a.m., 10:00 a.m. (i) three (3) Business Days Days, or with respect to any Revolving Credit Loan Requests in Alternate Currency four (4) Business Days, prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Rate Option applies or the conversion to or the renewal of the LIBOR Rate Option for any Loans; and (ii) the same Business Day of as either the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 or a request by telephone immediately confirmed in writing by letter, facsimile or telex in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “Loan Request”); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate amount (which shall be denominated in Dollars notwithstanding that the requested Loan may be advanced in an Alternate Currency) and, if applicable, the Alternate Currency of the proposed Loans comprising each Borrowing Tranche, and, if applicable, the Interest Period, which amount amounts shall be in (x) an integral multiple multiples of $1,000,000 500,000 and not less than $5,000,000 1,000,000 for each Borrowing Tranche under the LIBOR Rate Option and (y) an in integral multiple multiples of $50,000 100,000 and not less than the lesser of $500,000 or the maximum amount available for Borrowing Tranches to which under the Base Rate Option applies; (iii) whether Option. If the Borrower fails to specify in its Loan Request an Alternate Currency for the Loan requested thereby, the Borrower shall be deemed to have requested that such Loan be denominated in Dollars and, if upon the expiration of any Interest Period applicable to LIBOR Rate Option or Base Rate Option shall apply Loans denominated in an Alternate Currency, the Borrower has failed to the proposed Loans comprising the applicable Borrowing Tranche; and (iv) in the case give timely notice of its selection of a Borrowing Tranche new Interest Period to which be applicable to such LIBOR Loans, the Borrower shall be deemed to have elected to continue such LIBOR Rate Option applies, an appropriate Loans in such Alternate Currency effective on the last day of such Interest Period for the Loans comprising such Borrowing Tranchean additional one month Interest Period.
Appears in 1 contract
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower Borrowers may from time to time prior to the Expiration Date request the Lenders to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 10:00 a.m., (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans in Dollars to which the LIBOR Term Rate Option applies or the conversion to or the renewal of the LIBOR Term Rate Option for any LoansLoans in Dollars; (ii) four (4) Business Days prior to the proposed Borrowing Date with respect to the making of Optional Currency Loans or the date of conversion to or renewal of the Term Rate Option for any Optional Currency Loan; (iii) four (4) Business Days prior to the proposed Borrowing Date with respect to the making of Optional Currency Loans or the date of conversion to or renewal of the Daily Rate Option for any Optional Currency Loan, and (iiiv) the same Business Day of the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 or a request by telephone immediately confirmed in writing by letter, facsimile, e-mail or telex in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “Loan Request”); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (iA) the proposed Borrowing Date; applicable Borrower, (iiB) the aggregate amount of the proposed Loans comprising each Borrowing Tranche, and, if applicable, the Interest Period, which amount shall be in (x) an integral multiple multiples of One Million Dollars ($1,000,000 1,000,000) (or the Dollar Equivalent thereof) and not less than Five Million Dollars ($5,000,000 5,000,000) (or the Dollar Equivalent thereof) for each Borrowing Tranche under the LIBOR Term Rate Option, (y) integral multiples of One Million Dollars ($1,000,000) (or the Dollar Equivalent thereof) and not less than Five Million Dollars ($5,000,000) (or the Dollar Equivalent thereof) for each Borrowing Tranche under the Daily Rate Option and (yz) an integral multiple multiples of Five Hundred Thousand Dollars ($50,000 500,000) and not less than the lesser of One Million Dollars ($500,000 or the maximum amount available 1,000,000) for each Borrowing Tranches to which Tranche under the Base Rate Option applies; Option, (iiiC) whether the LIBOR Term Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; , (D) the currency in which such Revolving Credit Loans shall be funded if the applicable Borrower elects the Term Rate Option, and (ivE) in the case of a Borrowing Tranche to which the LIBOR Term Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing Tranche.Borrowing
1. 1097380671\10\AMERICAS
Appears in 1 contract
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower may from time to time prior to the Revolving Credit Expiration Date request the Lenders to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans or Term Loans pursuant to Section 4.2 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 10:00 a.m., (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans in Dollars to which the LIBOR Euro-Rate Option applies or the conversion to or the renewal of the LIBOR Euro-Rate Option for any LoansLoans in Dollars; (ii) four (4) Business Days prior to the proposed Borrowing Date with respect to the making of Optional Currency Loans or the date of conversion to or renewal of the Euro-Rate Option for any Optional Currency Loan, and (iiiii) the same Business Day of the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 or a request by telephone immediately confirmed in writing by letter, facsimile or telex in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “Loan Request”); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (iiA) the aggregate amount of the proposed Loans comprising each Borrowing Tranche, and, if applicable, the Interest Period, which amount shall be in (x) an integral multiple the minimum amount of $1,000,000 and not less than $5,000,000 500,000 (or the Dollar Equivalent thereof) for each Borrowing Tranche under the LIBOR Rate Option and Tranche, (yB) an integral multiple of $50,000 and not less than the lesser of $500,000 or the maximum amount available for Borrowing Tranches to which the Base Rate Option applies; (iii) whether the LIBOR Rate Option or Base Interest Rate Option shall apply to the proposed Dollar denominated Loans comprising the applicable Borrowing Tranche; Tranche and (ivC) the currency in which such Revolving Credit Loans shall be funded if the case of a Borrowing Tranche to which Borrower elects an Optional Currency and the LIBOR applicable Interest Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing TrancheOption.
Appears in 1 contract
Samples: Credit Agreement (Vertex, Inc.)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower may from time to time prior to the Expiration Date A request the Lenders to make for a Revolving Credit LoansLoan shall be made, or renew or convert shall be deemed to be made, in the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 [Interest Periods]following manner: (i) Borrowers shall give Lender same day notice, by delivering to the Administrative Agent, not no later than 11:00 a.m.A.M. (Eastern time) of such day, (i) of their intention to borrow a Revolving Credit Base Rate Loan, and at least three (3) Business Days prior notice of their intention to borrow a Revolving Credit LIBOR Rate Loan, in which notice Borrowers shall specify the amount of the proposed Borrowing Date with respect to borrowing and the making proposed borrowing date; provided, however, that no such request may be made at a time when there exists a Default or an Event of Revolving Credit Loans to which the LIBOR Rate Option applies or the conversion to or the renewal of the LIBOR Rate Option for any Loans; Default and (ii) the same Business Day becoming due of the proposed Borrowing Date with respect any amount required to the making of be paid under this Agreement, whether as interest or for any other Obligation, shall be deemed irrevocably to be a request for a Revolving Credit Loan on the due date in the amount required to which pay such interest or other Obligation. As an accommodation to Borrowers, Lender may permit telephone requests for Revolving Credit Loans and electronic transmittal of instructions, authorizations, agreements or reports to Lender by Borrowers. Unless Borrowers specifically direct Lender in writing not to accept or act upon telephonic or electronic communications from Borrowers, Lender shall have no liability to Borrowers for any loss or damage suffered by Borrowers as a result of Lender's honoring any requests, executions of any instructions, authorizations or agreements or reliance on any reports communicated to it telephonically or electronically and purporting to have been sent to Lender by Borrowers, and Lender shall have no duty to verify the Base Rate Option applies origin of any such communication or the last day authority of the preceding person sending it. Each notice of borrowing shall be irrevocable by and binding on Borrowers, and if such notice requests the borrowing of a LIBOR Rate Loan, such notice shall state the Interest Period with respect to the conversion to the thereto. Borrowers, at their option, may choose Base Rate Option for Loans or LIBOR Rate Loans, provided that any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 or a request by telephone immediately confirmed in writing in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “LIBOR Rate Loan Request”); it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate amount of the proposed Loans comprising each Borrowing Tranche, which amount shall be in (x) an integral multiple a minimum amount of $1,000,000 250,000, and not less than $5,000,000 for each Borrowing Tranche under provided, further, that the right of Borrowers to choose any LIBOR Rate Option and (y) an integral multiple of $50,000 and not less than the lesser of $500,000 or the maximum amount available for Borrowing Tranches to which the Base Rate Option applies; (iii) whether the LIBOR Rate Option or Base Rate Option shall apply Loan is subject to the proposed Loans comprising the applicable Borrowing Tranche; and (iv) in the case provisions of a Borrowing Tranche to which the LIBOR Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing Tranchesubsection 3.1.4.
Appears in 1 contract
Samples: Loan and Security Agreement (Eagle Supply Group Inc)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower Borrowers may from time to time prior to the Expiration Date request the Lenders to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 10:00 a.m., (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans in Dollars to which the LIBOR Rate Option applies or the conversion to or the renewal of the LIBOR Rate Option for any LoansLoans in Dollars; (ii) four (4) Business Days prior to the proposed Borrowing Date with respect to the making of Optional Currency Loans or the date of conversion to or renewal of the LIBOR Rate Option for any Optional Currency Loan, and (iiiii) the same Business Day of the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 or a request by telephone immediately confirmed in writing by letter, facsimile, e-mail or telex in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “Loan Request”); , it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (iA) the proposed Borrowing Date; applicable Borrower, (iiB) the aggregate amount of the proposed Loans comprising each Borrowing Tranche, and, if applicable, the Interest Period, which amount shall be in (x) an integral multiple multiples of One Million Dollars ($1,000,000 1,000,000) (or the Dollar Equivalent thereof) and not less than Five Million Dollars ($5,000,000 5,000,000) (or the Dollar Equivalent thereof) for each Borrowing Tranche under the LIBOR Rate Option Option, and (y) an integral multiple multiples of Five Hundred Thousand Dollars ($50,000 500,000) and not less than the lesser of One Million Dollars ($500,000 or the maximum amount available 1,000,000) for each Borrowing Tranches to which Tranche under the Base Rate Option applies; Option, (iiiC) whether the LIBOR Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; , (D) the currency in which such Revolving Credit Loans shall be funded if the applicable Borrower elects the LIBOR Rate Option, and (ivE) in the case of a Borrowing Tranche to which the LIBOR Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing Tranche. No Optional Currency Loan may be borrowed as a Base Rate Loan or converted into a Base Rate Loan or a Loan denominated in a different Optional Currency.
Appears in 1 contract
Samples: Credit Agreement (Stoneridge Inc)
Revolving Credit Loan Requests. Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower may from time to time prior to the Expiration Date request the Lenders to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 [Interest Periods], by delivering to the Administrative Paying Agent, not no later than (i) 11:00 a.m., (i) Pittsburgh time, three (3) Business Days prior to to: (A) the proposed Borrowing Date with respect to the making of Revolving Credit Loans or the renewal of Revolving Credit Loans to which the LIBOR Euro-Rate Option applies or (B) the date of the conversion to or the renewal of the LIBOR Euro-Rate Option for any Revolving Credit Loans; and (ii) the same Business Day of 11:00 a.m., Pittsburgh time, on either the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 or a request by telephone immediately confirmed in writing by letter, facsimile or telex in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “"Loan Request”"); , it being understood that the Administrative Paying Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing DateDate or the proposed interest conversion date; (ii) the aggregate amount of the proposed Loans comprising each Borrowing Tranche, which amount shall be in (x) an integral multiple multiples of $1,000,000 and not less than $5,000,000 for each Borrowing Tranche under to which the LIBOR Euro-Rate Option and (y) an integral multiple of $50,000 applies and not less than the lesser of $500,000 or the maximum amount available for Borrowing Tranches to which the Base Rate Option applies; (iii) whether the LIBOR Euro-Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; and (iv) in the case of a Borrowing Tranche to which the LIBOR Euro-Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing Tranche.
Appears in 1 contract