Common use of Revolving Credit Loan Requests Clause in Contracts

Revolving Credit Loan Requests. (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 (and only the Lead Borrower) in such manner as may from time to time be acceptable to the Lender. (b) Subject to the provisions of this Agreement, 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 Lender by no later than the following: (i) If such Revolving Credit Loan is to be or is to be converted to a Base Rate Loan: By 11:30AM Boston time on the Business Day on which the subject Revolving Credit Loan is to be made or is to be so converted. (ii) If such Revolving Credit Loan is to be or is to be converted to a LIBOR Advantage Rate Loan: By 11:30AM Boston time on the Business Day on which the subject Revolving Credit Loan is to be made or is to be so converted. (iii) If such Revolving Credit Loan is to be, or is to be continued as, or converted to, a LIBOR Rate Loan: by delivering a borrowing request to the Lender on or before 10:00 a.m., Boston time, on a Business Day, the Lead Borrower may from time to time irrevocably request, on not less than two nor more than five Business Days' notice, that a LIBOR Rate Loan be made in a minimum amount of $100,000.00 and integral multiples of $50,000.00, with an Interest Period of one, two, three or six months (or such other period as may be offered by the Lender). On the terms and subject to the conditions of this agreement, each LIBOR Rate Loan shall be made available to the Borrowers no later than 11:00 a.m. Boston time on the first day of the applicable Interest Period by deposit to the account of the Borrowers as shall have been specified in its borrowing request. (iv) By delivering a continuation/conversion notice to the Lender on or before 10:00 a.m., Boston time, on a Business Day, the Lead Borrower may from time to time irrevocably elect, on not less than two nor more than five Business Days' notice, that all, or any portion in an aggregate minimum amount of $100,000.00 and integral multiples of $50,000.00 of any LIBOR Rate Loan be converted on the last day of an Interest Period into a LIBOR Rate Loan with a different Interest Period, or continued on the last day of an Interest Period as a LIBOR Rate Loan with a similar Interest Period, provided, however, that no portion of the outstanding principal amount of any LIBOR Rate Loans may be converted to, or continued as, LIBOR Rate Loans when any Borrower is in Default and no portion of the outstanding principal amount of any LIBOR Rate Loans may be converted to, LIBOR Rate Loans of a different duration if such LIBOR Rate Loans relate to any Hedging Obligations. In the absence of delivery of a continuation/conversion notice with respect to any LIBOR Rate Loan at least two Business Days before the last day of the then current Interest Period with respect thereto, such LIBOR Rate Loan shall, on such last day, automatically convert to a loan that accrues interest by reference to the Base Rate. (v) Any LIBOR Rate Loan which matures while any Borrower is in Default shall be converted, at the option of the Lender, to a Base Rate Loan notwithstanding any notice from the Lead Borrower that such Loan is to be continued as a LIBOR Rate 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. (d) The Lender may rely on any request for a loan or advance, or other financial accommodation under the Revolving Credit which the Lender, 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 Lender's being furnished with such documentation concerning that Person's authority to act as may be satisfactory to the Lender. (e) A request by the Lead Borrower for loan or advance, or other financial accommodation under the Revolving Credit shall be irrevocable and shall constitute certification by each Borrower that as of the date of such request, each of the following is true and correct: (i) There has been no material adverse change in the Borrowers' financial condition from the most recent financial information furnished Lender pursuant to this Agreement. (ii) Each representation which is made herein or in any of the Loan Documents is then true and complete in all material respects as of and as if made on the date of such request (accordingly and for example, for those made as of a specific date, such representations and warranties shall be true and correct in all material respects as of such earlier date and shall be reaffirmed and "dated down" to the date of such request). (iii) Unless accompanied by a written Certificate of the Lead Borrower's President or its Chief Financial Officer describing (in reasonable detail) the facts and circumstances thereof and the steps (if any) being taken to remedy such condition, that no Borrower is in Default. (f) Any Revolving Credit Loan which is the subject of an interest rate swap agreement, interest rate cap agreement, interest rate collar agreements, or any other agreements or arrangements designed to protect the Borrowers against fluctuations in interest rates or currency exchange rates (including the initial Revolving Credit Loan made hereunder) shall be made, subject to the terms hereof, as a LIBOR Rate Loan.

Revolving Credit Loan Requests. (a) Requests for loans 2.3.1. Except as otherwise provided herein and advances under subject to the terms and conditions hereof, with respect to 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 (and only the Lead Borrower) in such manner as may from time to time be acceptable to the Lender. (b) Subject to the provisions of this AgreementLoans, 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 Lender by no later than the following: (i) If such Revolving Credit Loan is to be or is to be converted to a Base Rate Loan: By 11:30AM Boston time on the Business Day on which the subject Revolving Credit Loan is to be made or is to be so converted. (ii) If such Revolving Credit Loan is to be or is to be converted to a LIBOR Advantage Rate Loan: By 11:30AM Boston time on the Business Day on which the subject Revolving Credit Loan is to be made or is to be so converted. (iii) If such Revolving Credit Loan is to be, or is to be continued as, or converted to, a LIBOR Rate Loan: by delivering a borrowing request to the Lender on or before 10:00 a.m., Boston time, on a Business Day, the Lead Borrower may from time to time irrevocably requestprior to the Expiration Date: (i) request the Bank to make a LIBOR Rate Loan, on not less than two nor more than five Business Days' notice, that 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 Bank to convert an existing Base Rate Loan to a LIBOR Rate Loan be made in or a minimum amount of $100,000.00 and integral multiples of $50,000.00, with an Interest Period of one, two, three or six months (or LIBOR Advantage Rate Loan. Each such other period as may be offered request by the Lender). On the terms and subject to the conditions of this agreement, each LIBOR Rate Loan Borrower shall be made available by delivering to the Borrowers Bank within the times set forth in Section 2.3.2 hereof a duly completed request thereof substantially in the form of Exhibit 2.3.1 or a request by telephone immediately confirmed in writing by letter, facsimile or telex in such form (each, a "Revolving Credit Loan Request"), it being understood that the Bank may rely on the authority of any 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 11:00 a.m. Boston time on the first day of the applicable Interest Period by deposit to the account of the Borrowers as shall have been specified in its borrowing request.1:00 p.m.: (ivi) By delivering a continuation/conversion notice to the Lender on or before 10:00 a.m., Boston time, on a Business Day, the Lead Borrower may from time to time irrevocably elect, on not less than two the second (2nd) Business Day nor more than five the fifth (5th) Business Days' notice, that all, Day prior to the proposed Borrowing Date with respect to the making or any portion in an aggregate minimum amount renewal of $100,000.00 and integral multiples of $50,000.00 of any 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 be converted on to which the Base Rate Option or the LIBOR Advantage Rate Option applies; or (iii) the last day of an the preceding LIBOR Interest Period into a with respect to the conversion of Revolving Credit Loans from LIBOR Rate Loan with a different Interest PeriodLoans to Base Rate Loans or LIBOR Advantage Rate Loans. 2.3.3. Notwithstanding anything to the contrary contained herein, or continued on the last day of an Interest Period as a LIBOR Rate Loan with a similar Interest Period, provided, however, that no portion of the outstanding principal amount of any LIBOR Rate Loans Loan may be converted to, or continued as, to a LIBOR Rate Loans when any Borrower is in Default and no portion of the outstanding principal amount of any LIBOR Rate Loans may be converted to, LIBOR Rate Loans Loan of a different duration or a Base Rate Loan or a LIBOR Advantage Rate Loan if such LIBOR Rate Loans relate Loan relates to any Hedging ObligationsObligation. In the absence of delivery of a continuation/conversion notice with respect to any LIBOR Rate Loan at least two Business Days before the last day of the then current Interest Period with respect thereto, such LIBOR Rate Loan shall, on such last day, automatically convert to a loan that accrues interest by reference to the Base Rate. (v) Any LIBOR Rate Loan which matures while any Borrower is in Default shall be converted, at the option of the Lender, to a Base Rate Loan notwithstanding any notice from the Lead Borrower that such Loan is to be continued as a LIBOR Rate Loan. (c) Any request for a Each 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. (d) The Lender may rely on any request for a loan or advance, or other financial accommodation under the Revolving Credit which the Lender, 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 Lender's being furnished with such documentation concerning that Person's authority to act as may be satisfactory to the Lender. (e) A request by the Lead Borrower for loan or advance, or other financial accommodation under the Revolving Credit Request shall be irrevocable and shall constitute certification by each Borrower that as of the date of such request, each of the following is true and correct: specify (i) There has been no material adverse change in the Borrowers' financial condition from the most recent financial information furnished Lender pursuant to this Agreement. proposed Borrowing Date; (ii) Each representation which is made herein or in any the aggregate amount of the Loan Documents is then true and complete in all material respects as of and as if made on the date of such request (accordingly and for exampleproposed Revolving Credit Loans comprising each Borrowing Tranche, for those made as of a specific date, such representations and warranties which shall be true in integral multiples of Twenty-Five Thousand and correct in all material respects as of such earlier date 00/100 Dollars ($25,000.00) and shall be reaffirmed not less than Fifty Thousand and "dated down" 00/100 Dollars ($50,000.00) for each Borrowing Tranche to which the date of such request). LIBOR Rate Option applies, and (iii) Unless accompanied 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 making of a written Certificate of the Lead Borrower's President or its Chief Financial Officer describing (in reasonable detail) the facts and circumstances thereof and the steps (if any) being taken to remedy such condition, that no Borrower is in Default. (f) Any Revolving Credit Loan which is shall only be advanced upon the subject satisfaction of an interest rate swap agreement, interest rate cap agreement, interest rate collar agreements, or any other agreements or arrangements designed to protect the Borrowers against fluctuations requirements listed in interest rates or currency exchange rates (including the initial Revolving Credit Loan made hereunder) shall be made, subject to the terms hereof, as a LIBOR Rate LoanSection 6.2.

Revolving Credit Loan Requests. (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 (and only the Lead Borrower) in such manner as may from time to time be acceptable to the Lender. (b) Subject to the provisions of this Agreement, 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 Lender by no later than the following: (i) If such Revolving Credit Loan is to be or is to be converted to a Base Prime Rate Loan: By 11:30AM Boston time 11:30 AM 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 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 a LIBOR Advantage Rate Loan: By 11:30AM Boston time on the Business Day on which the subject Revolving Credit Loan is to be made or is to be so converted. (iii) If such Revolving Credit Loan is to be, or is to be continued as, or converted to, a LIBOR Rate Loan: by delivering a borrowing request to the Lender on or before 10:00 a.m., Boston time, on a Business Day, the Lead Borrower may from time to time irrevocably request, on not less than two nor more than five Business Days' notice, that a By 1:00 PM three (3) LIBOR Rate Loan be made in a minimum amount of $100,000.00 and integral multiples of $50,000.00, with an Interest Period of one, two, three or six months (or such other period as may be offered by the Lender). On the terms and subject to the conditions of this agreement, each LIBOR Rate Loan shall be made available to the Borrowers no later than 11:00 a.m. Boston time on the first day of the applicable Interest Period by deposit to the account of the Borrowers as shall have been specified in its borrowing request. (iv) By delivering a continuation/conversion notice to the Lender on or before 10:00 a.m., Boston time, on a Business Day, the Lead Borrower may from time to time irrevocably elect, on not less than two nor more than five Business Days' notice, that all, or any portion in an aggregate minimum amount of $100,000.00 and integral multiples of $50,000.00 of any LIBOR Rate Loan be converted on the last day of an Interest Period into a LIBOR Rate Loan with a different Interest Period, or continued on the last day of an Interest Period as a LIBOR Rate Loan with a similar Interest Period, provided, however, that no portion of the outstanding principal amount of any LIBOR Rate Loans may be converted to, or continued as, LIBOR Rate Loans when any Borrower is in Default and no portion of the outstanding principal amount of any LIBOR Rate Loans may be converted to, LIBOR Rate Loans of a different duration if such LIBOR Rate Loans relate to any Hedging Obligations. In the absence of delivery of a continuation/conversion notice with respect to any LIBOR Rate Loan at least two Business Days before the last day commencement of any new Interest Period or the end of the then current applicable Interest Period with respect thereto, Period. LIBOR Loans and conversions to LIBOR Loans shall each be not less than $500,000.00 and in increments of $100,000.00 in excess of such LIBOR Rate Loan shall, on such last day, automatically convert to a loan that accrues interest by reference to the Base Rateminimum. (viii) Any LIBOR Rate Loan which matures while any Borrower is in Default shall be converted, at the option of the Lender, to a Base Prime Rate Loan notwithstanding any notice from the Lead Borrower that such Loan is to be continued as a LIBOR Rate 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 Lead Borrower may request that the Lender cause the issuance by the Issuer of L/C’s for the account of the Borrowers as provided in Section 2.17. (e) The Lender may rely on any request for a loan or advance, or other financial accommodation under the Revolving Credit which the Lender, 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 Lender's ’s being furnished with such documentation concerning that Person's ’s authority to act as may be satisfactory to the Lender. (ef) A request by the Lead Borrower for loan or advance, or other financial accommodation under the Revolving Credit shall be irrevocable and shall constitute certification by each Borrower that as of the date of such request, each of the following is true and correct: (i) There has been no material adverse change in the Borrowers' ’ financial condition from the most recent financial information furnished Lender pursuant to this Agreement. (ii) All or a portion of any loan or advance so requested will be set aside by the Borrowers to cover the Borrowers’ obligations for sales tax on account of sales since the then most recent borrowing pursuant to the Revolving Credit. (iii) Each representation which is made herein or in any of the Loan Documents is then true and complete in all material respects as of and as if made on the date of such request (accordingly and for example, for those made as of a specific date, such representations and warranties shall be true and correct in all material respects as of such earlier date and shall be reaffirmed and "dated down" to the date of such request). (iiiiv) Unless accompanied by a written Certificate of the Lead Borrower's ’s President or its Chief Financial Officer describing (in reasonable detail) the facts and circumstances thereof and the steps (if any) being taken to remedy such condition, that no Borrower is in Default. (f) Any Revolving Credit Loan which is the subject of an interest rate swap agreement, interest rate cap agreement, interest rate collar agreements, or any other agreements or arrangements designed to protect the Borrowers against fluctuations in interest rates or currency exchange rates (including the initial Revolving Credit Loan made hereunder) shall be made, subject to the terms hereof, as a LIBOR Rate Loan.