Revolving Facility Disbursements; Requirement to Deliver. BORROWING CERTIFICATE So long as no Default or Event of Default shall have occurred and be continuing, Borrowing Agent on behalf of Borrowers may give Agent irrevocable written notice requesting an Advance of a specified amount under the Revolving Facility by notifying Agent not later than 11:00 a.m. (New York City time) at least one (1) but not more than four (4) Business Days before the proposed borrowing date of such requested Advance (the "BORROWING DATE"), and delivering to Agent by noon (New York City time) on the date of the proposed borrowing, a completed Interim Borrowing Certificate and relevant supporting documentation satisfactory to Agent in its Permitted Discretion, which shall (i) specify the proposed Borrowing Date of such Advance, which shall be a Business Day, (ii) specify the principal amount of such requested Advance, and (iii) certify the matters contained in Section 4.2. On a monthly basis, within thirty (30) days after the end of each month, Borrowing Agent on behalf of Borrowers shall specify to Agent the amount of any Medicare or Medicaid recoupments and/or recoupments of any third party payor being sought, requested or claimed, or, to Borrowers' knowledge, threatened against any Borrower or any Borrower's Affiliates. Each time a request for an Advance is made, and, in any event and regardless of whether an Advance is being requested, on Tuesday of each week during the Term (and more frequently if Lender shall so request after and during the continuance of an Event of Default) until the Obligations (other than Unmatured Surviving Obligations) are indefeasibly paid in cash in full and this Agreement is terminated, Borrowers shall deliver to Agent an Interim Borrowing Certificate, and on the date twenty (20) days after the end of each calendar month, Borrower shall deliver to Agent a Borrowing Certificate. On each Borrowing Date, each Borrower irrevocably authorizes Agent to disburse the proceeds of the requested Advance to the appropriate Borrower's account(s) as set forth on Schedule 2.4 (or to such other account as to which the appropriate Borrower shall instruct Agent), in all cases for credit to the appropriate Borrower, via Federal funds wire transfer no later than 4:00 p.m. (New York City time).
Appears in 1 contract
Samples: Revolving Credit and Security Agreement (Skilled Healthcare Group Inc)
Revolving Facility Disbursements; Requirement to Deliver. BORROWING CERTIFICATE Borrowing Certificate So long as no Default or Event of Default shall have occurred and be continuing, Borrowing Agent on behalf of Borrowers Borrower may give Agent Lender irrevocable written notice requesting an Advance of a specified amount under the Revolving Facility by notifying Agent delivering to Lender not later than 11:00 a.m. (New York City time) at least one (1) two but not more than four (4) Business Days before the proposed borrowing date of such requested Advance (the "BORROWING DATEBorrowing Date"), and delivering to Agent by noon (New York City time) on the date of the proposed borrowing, a completed Interim Borrowing Certificate and relevant supporting documentation satisfactory to Agent in its Permitted DiscretionLender, which shall (i) specify the proposed Borrowing Date of such Advance, Advance which shall be a Business Day, (ii) specify the principal amount of such requested Advance, and (iii) certify the matters contained in Section 4.2. On a monthly basis, within thirty and (30iv) days after the end of each month, Borrowing Agent on behalf of Borrowers shall specify to Agent the amount of any Medicare or Medicaid recoupments and/or recoupments of any third third-party payor being sought, requested or claimed, or, to Borrowers' Borrower's knowledge, threatened against any Borrower or any Borrower's Affiliates. Each time a request for an Advance is made, and, in any event and regardless of whether an Advance is being requested, on Tuesday of each week during the Term (and more frequently if Lender shall so request after and during the continuance of an Event of Defaultrequest) until the Obligations (other than Unmatured Surviving Obligations) are indefeasibly paid in cash in full and this Agreement is terminated, Borrowers shall deliver to Agent an Interim Borrowing Certificate, and on the date twenty (20) days after the end of each calendar month, Borrower shall deliver to Agent Lender a Borrowing CertificateCertificate accompanied by a separate detailed aging and categorizing of Borrower's accounts receivable and accounts payable and such other supporting documentation with respect to the figures and information in the Borrowing Certificate as Lender shall reasonably request from a credit or security perspective or otherwise. On each Borrowing Date, each Borrower irrevocably authorizes Agent Lender to disburse the proceeds of the requested Advance to the appropriate Borrower's account(s) as set forth on Schedule 2.4 2.4, in all cases for credit to the appropriate Borrower (or to such other account as to which the appropriate Borrower shall instruct Agent), in all cases for credit to the appropriate Borrower, Lender) via Federal funds wire transfer no later than 4:00 p.m. (New York City time).
Appears in 1 contract
Samples: Revolving Credit, Term Loan and Security Agreement (Derma Sciences Inc)
Revolving Facility Disbursements; Requirement to Deliver. BORROWING CERTIFICATE Borrowing Certificate So long as no Default or Event of Default shall have occurred and be continuing, Borrowing Agent on behalf of Borrowers may give Agent irrevocable written notice requesting an Advance of a specified amount under the Revolving Facility by notifying delivering to Agent not later than 11:00 a.m. 12:00 noon (New York City time) at least one (1) but not more than four (4) Business Days before the proposed borrowing date of Business Day on which such requested Advance is to be made (the "BORROWING DATEBorrowing Date"), and delivering to Agent by noon (New York City time) on the date of the proposed borrowing, a completed Interim Borrowing Certificate and requesting such Advance accompanied by relevant supporting documentation satisfactory to Agent in its Permitted Discretion, which shall (ia) specify the proposed Borrowing Date of such Advance, which shall be a Business Day, (iib) specify the principal amount of such requested Advance, and (iiic) certify the matters contained in Section 4.2 and, to the extent applicable, provide calculations evidencing satisfaction of the conditions set forth in Section 4.2. On a monthly basis, within thirty (30) days after the end of each month, Borrowing Agent on behalf of Borrowers shall specify to Agent the amount of any Medicare or Medicaid recoupments and/or recoupments of any third party payor being sought, requested or claimed, or, to Borrowers' knowledge, threatened against any Borrower or any Borrower's Affiliates. Each time a request for an Advance is made, and, in any event and regardless of whether an Advance is being requested, on Tuesday of each week Wednesday during the Term (and more frequently if Lender Agent shall so request after and during the continuance of an Event of Defaultrequest) until the Obligations (other than Unmatured Surviving Obligations) are indefeasibly paid in cash in full and this Agreement is terminatedterminated and each time a request for an Advance is made, Borrowers shall deliver to Agent an Interim Borrowing Certificate, and on the date twenty (20) days after the end of each calendar month, Borrower shall deliver to Agent a Borrowing CertificateCertificate accompanied by a separate detailed aging and categorization of Borrowers' accounts receivable and accounts payable and such other supporting documentation with respect to the figures and information in the Borrowing Certificate as Agent shall request in its Permitted Discretion. On each Borrowing Date, each Borrower Borrowers irrevocably authorizes authorize Agent and Lenders to disburse the proceeds of the requested Advance to the appropriate Borrower's applicable account(s) as of Borrowers specified in the applicable Borrowing Certificate, each of which accounts shall constitute one or more of the accounts set forth on Schedule 2.4 2.4, in all cases for credit to the applicable Borrower (or to such other account as to which the appropriate such Borrower shall instruct Agent), Agent in all cases for credit to the appropriate Borrower, writing) via Federal funds wire transfer no later than 4:00 3:00 p.m. (New York City time).
Appears in 1 contract
Samples: Revolving Credit, Term Loan, and Security Agreement (Advanced Nutraceuticals Inc/Tx)
Revolving Facility Disbursements; Requirement to Deliver. BORROWING CERTIFICATE Borrowing Certificate So long as no Default or Event of Default shall have occurred and be continuing, Borrowing Agent on behalf of Borrowers Borrower may give Agent Lender irrevocable written notice requesting an Advance of a specified amount under the Revolving Facility by notifying Agent delivering to Lender not later than 11:00 a.m. (New York City time) at least one (1) but not more than four (4) Business Days before the proposed borrowing date of such requested Advance (the "BORROWING DATEBorrowing Date"), and delivering to Agent by noon (New York City time) on the date of the proposed borrowing, a completed Interim Borrowing Certificate and relevant supporting documentation satisfactory to Agent in its Permitted DiscretionLender, which shall (i) specify the proposed Borrowing Date of such Advance, Advance which shall be a Business Day, (ii) specify the principal amount of such requested Advance, and (iii) certify the matters contained in Section 4.2. On a monthly basis, within thirty and (30iv) days after the end of each month, Borrowing Agent on behalf of Borrowers shall specify to Agent the amount of any Medicare or Medicaid recoupments and/or recoupments of any third third-party payor being sought, requested or claimed, or, to Borrowers' Borrower's knowledge, threatened against any Borrower or any Borrower's Affiliates. Each time a request for an Advance is made, and, in any event and regardless of whether an Advance is being requested, on Tuesday of each week during the Term (and more frequently if Lender shall so request after and during the continuance of an Event of Defaultrequest) until the Obligations (other than Unmatured Surviving Obligations) are indefeasibly paid in cash in full and this Agreement is terminated, Borrowers shall deliver to Agent an Interim Borrowing Certificate, and on the date twenty (20) days after the end of each calendar month, Borrower shall deliver to Agent Lender a Borrowing CertificateCertificate accompanied by (A) a separate detailed aging and categorizing of Borrower's (i) accounts receivable and (ii) if requested by Lender, accounts payable and (B) such other supporting documentation with respect to the figures and information in the Borrowing Certificate as Lender shall reasonably request from a credit or security perspective or otherwise. On each Borrowing Date, each Borrower irrevocably authorizes Agent Lender to disburse the proceeds of the requested Advance to the appropriate Borrower's account(s) as set forth on Schedule 2.4 2.4, in all cases for -- 33 -- credit to the appropriate Borrower (or to such other account as to which the appropriate Borrower shall instruct Agent), in all cases for credit to the appropriate Borrower, Lender) via Federal funds wire transfer no later than 4:00 p.m. (New York City time).
Appears in 1 contract
Samples: Revolving Credit, Term Loan and Security Agreement (PHC Inc /Ma/)
Revolving Facility Disbursements; Requirement to Deliver. BORROWING CERTIFICATE So long as no Default or Event of Default shall have occurred and be continuing, Borrowing Agent on behalf of Borrowers and Senior Mortgage Lender (but only to the extent permitted in the Senior Mortgage/Revolving Lender Intercreditor Agreement) may give Agent irrevocable written notice requesting an Advance of a specified amount under the Revolving Facility by notifying Agent not later than 11:00 a.m. (New York City time) at least one (1) but not more than four (4) Business Days before the proposed borrowing date of such requested Advance (the "BORROWING DATE"), and delivering to Agent by noon (New York City time) on the date of the proposed borrowing, a completed Interim Borrowing Certificate and relevant supporting documentation satisfactory to Agent in its Permitted Discretion, which shall (i) specify the proposed Borrowing Date of such Advance, which shall be a Business Day, (ii) specify the principal amount of such requested Advance, and (iii) certify the matters contained in Section 4.2. On a monthly basis, within thirty (30) days after the end of each month, Borrowing Agent on behalf of Borrowers shall specify to Agent the amount of any Medicare or Medicaid recoupments and/or recoupments of any third party payor being sought, requested or claimed, or, to Borrowers' knowledge, threatened against any Borrower or any Borrower's Affiliates. Each time a request for an Advance is made, and, in any event and regardless of whether an Advance is being requested, on Tuesday of each week during the Term (and more frequently if Lender shall so request after and during the continuance of an Event of Default) until the Obligations (other than Unmatured Surviving Obligations) are indefeasibly paid in cash in full and this Agreement is terminated, Borrowers shall deliver to Agent an Interim Borrowing Certificate, and on the date twenty (20) days after the end of each calendar month, Borrower shall deliver to Agent a Borrowing Certificate. On each Borrowing Date, each Borrower irrevocably authorizes Agent to disburse the proceeds of the requested Advance to the appropriate Borrower's account(s) as set forth on Schedule 2.4 (or to such other account as to which the appropriate Borrower shall instruct Agent), in all cases for credit to the appropriate Borrower, via Federal funds wire transfer no later than 4:00 p.m. (New York City time).,
Appears in 1 contract
Samples: Revolving Credit and Security Agreement (Skilled Healthcare Group Inc)