Common use of Revolving Loan Requests Clause in Contracts

Revolving Loan Requests. (i) Each request for the funding, continuation or conversion of a Revolving Loan shall be evidenced by the timely delivery by the Company to the Agent of a duly executed Loan Request (which delivery may be by facsimile transmission). (ii) Upon receipt of a Loan Request for the funding of a new Revolving Loan or upon the date of any Standard L/C Drawing with respect to a Standard Letter of Credit which, in accordance with this Agreement, is to be reimbursed from the proceeds of a Revolving Loan, the Agent shall notify each Lender of such Lender's Percentage Share thereof no later than 11:00 a.m. (Los Angeles time) on the date such Loan Request is received by the Agent or such Standard L/C Drawing made (said notice by the Agent to the Lenders to be given telephonically and confirmed by facsimile transmission). Each Lender shall make its Percentage Share of the proposed Revolving Loan available to the Agent, in same-day funds, on the funding date at the Contact Office of the Agent, at such account as the Agent shall designate no later than 12:00 noon (Los Angeles time). The failure of any Lender to advance its Percentage Share of a proposed Revolving Loan shall not relieve any other Lender of its obligation hereunder to advance its Percentage Share thereof, but no Lender shall be responsible for the failure of any other Lender to make any such advance. Nothing contained herein shall in any manner or to any extent be deemed to constitute a waiver by the Company of any rights, powers and remedies which it may have against any Lender for failure of such Lender to fund its Percentage Share of Revolving Loans as required by the Loan Documents.

Revolving Loan Requests. (i) Each A request for the funding, continuation or conversion of a Revolving Loan shall be evidenced by the timely delivery by the Company to the Agent of a duly executed Loan Request (which delivery may made or shall be by facsimile transmission). (ii) Upon receipt of a Loan Request for the funding of a new Revolving Loan or upon the date of any Standard L/C Drawing with respect to a Standard Letter of Credit which, in accordance with this Agreement, is deemed to be reimbursed from made, each in the proceeds following manner: (i) Borrower shall give LaSalle same day notice, no later than 10:30 A.M. (Chicago time) of such day, of its intention to borrow a Revolving Loan, in which notice Borrower shall specify the Agent shall notify each Lender of such Lender's Percentage Share thereof no later than 11:00 a.m. (Los Angeles time) on the date such Loan Request is received by the Agent or such Standard L/C Drawing made (said notice by the Agent to the Lenders to be given telephonically and confirmed by facsimile transmission). Each Lender shall make its Percentage Share amount of the proposed borrowing and the proposed borrowing date, provided, however, that no such request may be made at a time when there exists a Default or an Event of Default; and (ii) the coming due of any amount required to be paid under this Agreement or any Note, whether on account of interest or for any other Obligation, shall be deemed irrevocably to be a request for a Revolving Loan available to the Agent, in same-day funds, on the funding due date at thereof in the Contact Office amount required to pay such interest or other Obligation. As an accommodation to Borrower, LaSalle may permit telephone requests for Revolving Loans and electronic transmittal of instructions, authorizations, agreements or reports to LaSalle by Borrower. Unless Borrower specifically directs LaSalle in writing not to accept or act upon telephonic or electronic communications from Borrower, LaSalle shall have no liability to Borrower for any loss or damage suffered by Borrower as a result of LaSalle's honoring of any requests, execution of any instructions, authorizations or agreements or reliance on any reports communicated to it telephonically or electronically and purporting to have been sent to LaSalle by Borrower and LaSalle shall have no duty to verify the origin of any such communication or the authority of the Agent, at such account as the Agent shall designate no later than 12:00 noon (Los Angeles time)Person sending it. The failure Each notice of any Lender to advance its Percentage Share of a proposed Revolving Loan shall not relieve any other Lender of its obligation hereunder to advance its Percentage Share thereof, but no Lender borrowing shall be responsible for the failure of any other Lender to make any such advance. Nothing contained herein shall in any manner or to any extent be deemed to constitute a waiver irrevocable by the Company of any rights, powers and remedies which it may have against any Lender for failure of such Lender to fund its Percentage Share of Revolving Loans as required by the Loan Documentsbinding on Borrower.

Revolving Loan Requests. (i) Each request for the funding, continuation or conversion of a Revolving Loan shall be evidenced made upon the Borrower’s irrevocable notice, to the Lender, which may be given by telephone. Each such notice must be received by the timely delivery Lender substantially in the form of a Committed Loan Notice (i) in the case of an ABR Loan or a Daily LIBOR Loan, not later than 11:00 a.m. on the date of the proposed ABR Loan, or (ii) in the case of a LIBOR Loan, not later than 2:00 p.m. three (3) Business Days before the date of the proposed LIBOR Loan. Each telephonic notice by the Company Borrower must be confirmed promptly by hand delivery or facsimile (or transmitted by electronic communication, if arrangements for doing so have been approved by the Lender) of a written Committed Loan Notice, appropriately completed and signed by a Responsible Officer of the Borrower. Each Committed Loan Notice (whether telephonic or written) shall specify (A) the requested date of the Revolving Loan (which shall be a Business Day), (B) the Type of Revolving Loan to be borrowed, (C) the duration of the Interest Period with respect thereto which shall be a period contemplated by the definition of the term “Interest Period”, and (D) the location and number of the Borrower’s account to which funds are to be disbursed. Notwithstanding anything in this Credit Agreement to the Agent contrary, if the Borrower requests a LIBOR Loan in any such Committed Loan Notice, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of a duly executed Loan Request (which delivery may be by facsimile transmission)one month. (ii) Upon receipt satisfaction or waiver of a Loan Request for the funding of a new applicable conditions set forth in Section 4.2 (and, if such Revolving Loan or upon is the date of any Standard L/C Drawing with respect to a Standard Letter of initial Credit whichExtension, in accordance with this Agreement, is to be reimbursed from the proceeds of a Revolving LoanSection 4.1), the Agent shall notify each Lender of such Lender's Percentage Share thereof no later than 11:00 a.m. (Los Angeles time) on the date such Loan Request is received by the Agent or such Standard L/C Drawing made (said notice by the Agent to the Lenders to be given telephonically and confirmed by facsimile transmission). Each Lender shall make its Percentage Share of the proposed Revolving Loan funds available to the AgentBorrower in an amount equal to the requested Revolving Loan by transfer to the account of the Borrower maintained with Lender and designated in the Committed Loan Notice. (iii) Except as otherwise provided herein, in same-day funds, a LIBOR Loan may be continued on the funding date last day of an Interest Period for such LIBOR Loan unless the Borrower pays the amount due, if any, under Section 3.5 in connection therewith. During the existence of an Event of Default, the Lender may require that (i) no Revolving Loan may be requested or continued as a LIBOR Loan or a Daily LIBOR Loan and (ii) unless repaid, each LIBOR Loan or Daily LIBOR Loan be converted to an ABR Loan at the Contact Office end of the Agent, at Interest Period applicable thereto. (iv) The Lender shall promptly notify the Borrower of the interest rate applicable to any Interest Period for a LIBOR Loan upon determination of such account as the Agent shall designate no later than 12:00 noon (Los Angeles time)interest rate. The failure determination of any Lender to advance its Percentage Share of a proposed Revolving Loan shall not relieve any other Lender of its obligation hereunder to advance its Percentage Share thereof, but no the Adjusted LIBOR Rate by the Lender shall be responsible conclusive in the absence of manifest error. (v) Anything in clauses (i) through (iv) above to the contrary notwithstanding, after giving effect to all Revolving Loans, there shall not be more than four (4) Interest Periods in effect at any time for the failure of any other Lender to make any such advance. Nothing contained herein shall in any manner or to any extent be deemed to constitute a waiver by the Company of any rights, powers and remedies which it may have against any Lender for failure of such Lender to fund its Percentage Share of Revolving Loans as required by the Loan Documentsall LIBOR Loans.

Revolving Loan Requests. (i) Each A request for the funding, continuation or conversion of a Revolving Loan shall be evidenced by the timely delivery by the Company to the Agent of a duly executed Loan Request (which delivery may made or shall be by facsimile transmission). (ii) Upon receipt of a Loan Request for the funding of a new Revolving Loan or upon the date of any Standard L/C Drawing with respect to a Standard Letter of Credit which, in accordance with this Agreement, is deemed to be reimbursed from made, each in the proceeds following manner: (1) Borrower shall give LaSalle same day notice, no later than 10:30 A.M. (Chicago time) of such day, of its intention to borrow a Prime Rate Revolving Loan, and at least one (1) Business Day's prior notice of its intention to borrow a LIBOR Rate Revolving Loan, in which notice Borrower shall specify the Agent shall notify each Lender of such Lender's Percentage Share thereof no later than 11:00 a.m. (Los Angeles time) on the date such Loan Request is received by the Agent or such Standard L/C Drawing made (said notice by the Agent to the Lenders to be given telephonically and confirmed by facsimile transmission). Each Lender shall make its Percentage Share amount of the proposed borrowing and the proposed borrowing date, provided, however, that no such request may be made at a time when there exists a Default; and (2) the coming due of any amount required to be paid under this Agreement or any Note, whether on account of interest or for any other Obligation, shall be deemed irrevocably to be a request for a Prime Rate Revolving Loan available to the Agent, in same-day funds, on the funding due date at thereof in the Contact Office amount required to pay such interest or other Obligation. As an accommodation to Borrower, LaSalle may permit telephone requests for Revolving Loans and electronic transmittal of instructions, authorizations, agreements or reports to LaSalle by Borrower. Unless Borrower specifically directs LaSalle in writing not to accept or act upon telephonic or electronic communications from Borrower, LaSalle shall have no liability (except in the event of gross negligence or wilful misconduct on the part of LaSalle) to Borrower for any loss or damage suffered by Borrower as a result of LaSalle's honoring of any requests, execution of any instructions, authorizations or agreements or reliance on any reports communicated to it telephonically or electronically and purporting to have been sent to LaSalle by an authorized officer of Borrower (including, without limitation, Borrower's Controller) and LaSalle shall have no duty to verify the origin of any such communication or the authority of the AgentPerson sending it. Each notice of borrowing shall be irrevocable by and binding on Borrower, and if such notice requests the borrowing of a LIBOR Rate Revolving Loan, such notice shall state the Interest Period with respect thereto. Borrower, at such account as the Agent shall designate no later than 12:00 noon (Los Angeles time). The failure of its option, may choose Prime Rate Revolving Loans or LIBOR Rate Revolving Loans, provided that any Lender to advance its Percentage Share of a proposed LIBOR Rate Revolving Loan shall not relieve be in a minimum amount of $1,000,000, and provided further that the right of Borrower to choose any other Lender LIBOR Rate Loan is subject to the provisions of its obligation hereunder to advance its Percentage Share thereof, but no Lender shall be responsible for the failure of any other Lender to make any such advance. Nothing contained herein shall in any manner or to any extent be deemed to constitute a waiver by the Company of any rights, powers and remedies which it may have against any Lender for failure of such Lender to fund its Percentage Share of Revolving Loans as required by the Loan Documentsparagraph 5.C hereof.