Common use of Settlement Dates Clause in Contracts

Settlement Dates. Once each week for the Revolving Loan or more frequently (including daily), if Agent so elects (each such day being a "Settlement Date"), Agent will advise each Lender by telephone, fax or telecopy of the amount of each such Lender's Pro Rata Share of the Revolving Loan. In the event payments are necessary to adjust the amount of such Lender's required Pro Rata Share of the Revolving Loan balance to such Lender's actual Pro Rata Share of the Revolving Loan balance as of any Settlement Date, the party from which such payment is due will pay the other, in same day funds, by wire transfer to the other's account not later than 3:00 p.m. Chicago time on the Business Day following the Settlement Date.

Appears in 2 contracts

Samples: Loan and Security Agreement (Banctec Inc), Loan and Security Agreement (Beacon Roofing Supply Inc)

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Settlement Dates. Once each week for the Revolving Loan or ---------------- more frequently (including daily), if Agent so elects (each such day being a "Settlement Date"), Agent will advise each Lender by telephone, fax or telecopy of the amount of each such Lender's Pro Rata Share of the Revolving Loan. In the event payments are necessary to adjust the amount of such Lender's required Pro Rata Share of the Revolving Loan balance to such Lender's actual Pro Rata Share of the Revolving Loan balance as of any Settlement Date, the party from which such payment is due will pay the other, in same day funds, by wire transfer to the other's account not later than 3:00 p.m. Chicago time on the Business Day following the Settlement Date.

Appears in 1 contract

Samples: Loan and Security Agreement (Banctec Inc)

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Settlement Dates. Once each week for the Revolving Loan or more frequently (including daily), if Agent so elects (each such day being a "Settlement Date"), Agent will advise each Lender by telephone, fax or telecopy of the amount of each such Lender's ’s Pro Rata Share of the Revolving Loan. In the event payments are necessary to adjust the amount of such Lender's ’s required Pro Rata Share of the Revolving Loan balance to such Lender's ’s actual Pro Rata Share of the Revolving Loan balance as of any Settlement Date, the party from which such payment is due will pay the other, in same day funds, by wire transfer to the other's ’s account not later than 3:00 p.m. Chicago time on the Business Day following the Settlement Date.

Appears in 1 contract

Samples: Loan and Security Agreement (Beacon Roofing Supply Inc)

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