Common use of Time for Requests Clause in Contracts

Time for Requests. The Borrower shall request each Floating Rate Advance not later than the cut-off time on the Business Day on which the Floating Rate Advance is to be made, and each LIBOR Advance not later than the Cut-off Time on the Business Day that is three (3) days preceding the Business Day on which the LIBOR Advance is to be made. Each request that conforms to the terms of this Agreement shall be effective upon receipt by the Lender, shall be in writing or by telephone or telecopy transmission, and shall be confirmed in writing by the Borrower if so requested by the Lender, by (i) an Officer of the Borrower; or (ii) a Person designated as the Borrower’s agent by an Officer of the Borrower in a writing delivered to the Lender; or (iii) a Person whom the Lender reasonably believes to be an Officer of the Borrower or such a designated agent, which confirmation shall specify whether the Advance shall be a Floating Rate Advance or a LIBOR Advance and, with respect to any LIBOR Advance, shall specify the principal amount of the LIBOR Advance and the Interest Period applicable thereto. The Borrower shall repay all Advances even if the Lender does not receive such confirmation and even if the Person requesting an Advance was not in fact authorized to do so. Any request for an Advance, whether written or telephonic, shall be deemed to be a representation by the Borrower that the conditions set forth in Section 4.2 have been satisfied as of the time of the request.

Appears in 1 contract

Samples: Credit and Security Agreement   by And (uBid.com Holdings, Inc.)

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Time for Requests. The Administrative Borrower shall request each Floating Rate Advance not later than the cut-off time on the Business Day on which the Floating Rate Advance is to be made, and each LIBOR Advance not later than the Cut-off Time on the Business Day that is three (3) days preceding the Business Day on which the LIBOR Advance is to be made. Each request that conforms to the terms of this Agreement shall be effective upon receipt by the Lender, shall be in writing or by telephone or telecopy transmission, and shall be confirmed in writing by the Administrative Borrower if so requested by the Lender, by (i) an Officer of the Administrative Borrower; or (ii) a Person designated as the Administrative Borrower’s agent by an Officer of the Administrative Borrower in a writing delivered to the Lender; or (iii) a Person whom the Lender reasonably believes to be an Officer of the Administrative Borrower or such a designated agent, which confirmation shall specify whether the Advance shall be a Floating Rate Advance or a LIBOR Advance and, with respect to any LIBOR Advance, shall specify the principal amount of the LIBOR Advance and the Interest Period applicable thereto. The Borrower shall repay all Advances even if the Lender does not receive such confirmation and even if the Person requesting an Advance was not in fact authorized to do so. Any request for an Advance, whether written or telephonic, shall be deemed to be a representation by the Administrative Borrower that the conditions set forth in Section 4.2 have been satisfied as of the time of the request.

Appears in 1 contract

Samples: Credit and Security Agreement (Pure Earth, Inc.)

Time for Requests. The Borrower shall request each Floating Rate Advance not later than the cut-off time on the Business Day on which the Floating Rate Advance so that it is to be made, and each LIBOR Advance received by Lender not later than the Cut-off Time on the Business Day that is three (3) days preceding the Business Day on which the LIBOR Advance is to be made. Each request that conforms to the terms of this Agreement shall be effective upon receipt by the Lender, shall be in writing or by telephone or telecopy transmission, and shall be confirmed in writing by the Borrower if so requested by the Lender, by (i) an Officer of the Borrower; or (ii) a Person designated as the Borrower’s 's agent by an Officer of the Borrower in a writing delivered to the Lender; or (iii) a Person whom the Lender reasonably believes to be an Officer of the Borrower or such a designated agentagent , which confirmation shall specify whether the Advance shall be a Floating Rate Advance or a LIBOR Advance and, with respect to any LIBOR Advance, shall specify the principal amount of the LIBOR Advance and the Interest Period applicable thereto. The Borrower shall repay all Advances even if the Lender does not receive such confirmation and even if the Person requesting an Advance was not in fact authorized to do so. Any request for an Advance, whether written or telephonic, shall be deemed to be a representation by the Borrower that the conditions set forth in Section 4.2 have been satisfied as of the time of the request.

Appears in 1 contract

Samples: Credit and Security Agreement (Ronson Corp)

Time for Requests. The Borrower Borrowers shall request each Floating Rate Advance not later than the cut-off time on the Business Day on which the Floating Rate Advance is to be made, and each LIBOR Advance not later than the Cut-off Time on the Business Day that is three (3) days immediately preceding the Business Day on which the LIBOR Advance is to be mademade in the case of a Floating Rate Advance, and not later than the Cut-off Time on the third Business Day immediately preceding the Business Day on which the Advance is to be made in the case of a LIBOR Advance. Each request that conforms to the terms of this Agreement shall be effective upon receipt by the Lender, shall be in writing or by telephone or telecopy transmission, and shall be confirmed in writing by the Borrower Borrowers if so requested by the Lender, by (i) an Officer of the BorrowerBorrowers; or (ii) a Person designated as the Borrower’s Borrowers' agent by an Officer of the each Borrower in a writing delivered to the Lender; or (iii) a Person whom the Lender reasonably believes to be an Officer of the each Borrower or such a designated agent, which confirmation shall specify whether the Advance shall be a Floating Rate Advance or a LIBOR Advance and, with respect to any LIBOR Advance, shall specify the principal amount of the LIBOR Advance and the Interest Period applicable thereto. The Borrower Borrowers shall repay all Advances even if the Lender does not receive such confirmation and even if the Person requesting an Advance was not in fact authorized to do so. Any request for an Advance, whether written or telephonic, shall be deemed to be a representation by the Borrower Borrowers that the conditions set forth in Section 4.2 have been satisfied as of the time of the request.

Appears in 1 contract

Samples: Credit and Security Agreement (Netlist Inc)

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Time for Requests. The Borrower Borrowers shall request each Floating Rate Advance not later than the cut-off time on the Business Day on which the Floating Rate Advance is to be made, and each LIBOR Advance not later than the Cut-off Time on the Business Day that is three (3) days preceding the Business Day on which the LIBOR Advance is to be made. Each request that conforms to the terms of this Agreement shall be effective upon receipt by the Lender, shall be in writing or by telephone or telecopy transmissionby Global, and shall be confirmed in writing by the each Borrower requesting such Advance if so requested by the Lender, by (i) an Officer of the Borrowereach Borrower requesting such Advance; or (ii) a Person designated as the such Borrower’s agent by an Officer of the such Borrower in a writing delivered to the Lender; or (iii) a Person whom the Lender reasonably believes to be an Officer of the such Borrower or such a designated agent, which confirmation shall specify whether the Advance shall be a Floating Rate Advance or a LIBOR Advance and, with respect to any LIBOR Advance, shall specify the principal amount of the LIBOR Advance and the Interest Period applicable thereto. The Borrower Borrowers shall repay all Advances even if the Lender does not receive such confirmation and even if the Person requesting an Advance was not in fact authorized to do so. Any request for an Advance, whether written or telephonic, shall be deemed to be a representation by the Borrower Borrowers that the conditions set forth in Section 4.2 have been satisfied as of the time of the request.

Appears in 1 contract

Samples: Credit and Security Agreement (Global Employment Holdings, Inc.)

Time for Requests. The Administrative Borrower shall request each Floating Rate Advance not later than the cut-off 11:00 a.m., Los Angeles, California time on the Business Banking Day on which which, in the case of a Floating Rate Advance, is the date the Advance is to be made, and each LIBOR Advance not later than in the Cut-off Time on the Business Day that case of a LIBO Rate Advance, is at least three (3) days preceding Banking Days before the Business Day on which date the LIBOR Advance is to be made. Each such request that conforms to the terms of this Agreement shall be effective upon receipt by the Lender, shall be in writing or by telephone or telecopy transmission, and shall to be confirmed in writing by the Administrative Borrower if so requested by the LenderLender (in the form of Exhibit F), shall be by (i) an Officer of the Administrative Borrower; or (ii) a Person person designated as the Administrative Borrower’s agent by an Officer of the Administrative Borrower in a writing delivered to the Lender; or (iii) a Person person whom the Lender reasonably believes to be an Officer of the Administrative Borrower or such a designated agent, which confirmation and shall specify whether the Advance shall be a Floating Rate Advance or a LIBOR LIBO Rate Advance and, with respect to any LIBOR and in the case of a LIBO Rate Advance, shall specify the principal amount of the LIBOR Advance and the Interest Period to be applicable thereto. The Borrower Borrowers shall repay all Advances even if the Lender does not receive such confirmation and even if the Person person requesting an Advance was not in fact authorized to do so. Any request for an Advance, whether written or telephonic, shall be deemed to be a representation by the Borrower Borrowers that the conditions set forth in Section 4.2 have been satisfied as of the time of the request.

Appears in 1 contract

Samples: Credit and Security Agreement (Smtek International Inc)

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