To request. a Swingline Loan, the Borrower shall notify the Administrative Agent and the Swingline Lender of such request by telephone (confirmed pursuant to a Notice of Borrowing by telecopy or email), not later than (i) 12:00 noon, New York City time, in the case of ABR Loans, or (ii) 2:00 p.m., New York City time, in the case of Money Market Rate Loans, on the day of a proposed Swingline Loan. Each such notice shall be irrevocable and shall specify the requested date (which shall be a Business Day), amount of the requested Swingline Loan, and whether the requested Swingline Loan shall be a Base Rate Advance, a Money Market Rate Loan or a combination thereof. Each Borrowing under the Swingline Limit shall be in an amount equal to $1,000,000 or a whole multiple in excess thereof. The Swingline Lender shall make each Swingline Loan available to the Borrower by means of a credit to the general deposit account of the Borrower with the Swingline Lender (or, in the case of a Swingline Loan made to finance the reimbursement of any payment that an Issuing Bank makes under a Letter of Credit as provided in Section 2.04(d), by remittance to the Issuing Bank) by 3:00 p.m., New York City time, on the requested date of such Swingline Loan.
Appears in 3 contracts
Samples: Credit Agreement (Centerpoint Energy Resources Corp), Credit Agreement (Centerpoint Energy Inc), Credit Agreement (Centerpoint Energy Houston Electric LLC)
To request. a Swingline LoanLoan from the Swingline Lender, the Borrower shall notify the Administrative Agent and the Swingline Lender of such request by telephone (confirmed pursuant by telecopy), and (if required by clause (d) of Section 5.01) deliver a Collateral Value Certificate (updating the Collateral Value Amount in accordance with the definition of such term) to a Notice of Borrowing by telecopy or email)the Administrative Agent, not later than (i) 12:00 noon, New York City time, in the case of ABR Loans, or (ii) 2:00 4:00 p.m., New York City time, in the case of Money Market Rate Loans, on the day of a proposed Swingline Loan. Each such notice shall be irrevocable and shall specify the requested date (which shall be a Business Day), ) and the amount of the requested Swingline Loan. The Swingline Lender will, and whether the requested prior to making such Swingline Loan shall be a Base Rate Advanceavailable to the Borrower, a Money Market Rate Loan or a combination thereof. Each Borrowing under notify the Swingline Limit shall be in an amount equal to $1,000,000 or a whole multiple in excess thereofAdministrative Agent of such notice. The Swingline Lender shall make each Swingline Loan to be made by it hereunder available to the Borrower by means of a credit to the general deposit account of the Borrower with the Swingline Lender (or, in the case of a Swingline Loan made to finance the reimbursement of any payment that an Issuing Bank makes under a Letter of Credit LC Disbursement as provided in Section 2.04(d2.05(e), by remittance to the applicable Issuing Bank) by 3:00 5:00 p.m., New York City time, on the requested date of such Swingline Loan.
Appears in 2 contracts
Samples: Credit Agreement (American Axle & Manufacturing Holdings Inc), Credit Agreement (American Axle & Manufacturing Holdings Inc)
To request. a Swingline LoanLoan from the Swingline Lender, the Borrower shall notify the Administrative Agent and the Swingline Lender of such request by telephone (confirmed pursuant by facsimile), and (if required by clause (d) of Section 5.01) deliver a Collateral Value Certificate (updating the Collateral Value Amount in accordance with the definition of such term) to a Notice of Borrowing by telecopy or email)the Administrative Agent, not later than (i) 12:00 noon, New York City time, in the case of ABR Loans, or (ii) 2:00 4:00 p.m., New York City time, in the case of Money Market Rate Loans, on the day of a proposed Swingline Loan. Each such notice shall be irrevocable and shall specify the requested date (which shall be a Business Day), ) and the amount of the requested Swingline Loan. The Swingline Lender will, and whether the requested prior to making such Swingline Loan shall be a Base Rate Advanceavailable to the Borrower, a Money Market Rate Loan or a combination thereof. Each Borrowing under notify the Swingline Limit shall be in an amount equal to $1,000,000 or a whole multiple in excess thereofAdministrative Agent of such notice. The Swingline Lender shall make each Swingline Loan to be made by it hereunder available to the Borrower by means of a credit to the general deposit account of the Borrower with the Swingline Lender (or, in the case of a Swingline Loan made to finance the reimbursement of any payment that an Issuing Bank makes under a Letter of Credit LC Disbursement as provided in Section 2.04(d2.05(e), by remittance to the applicable Issuing Bank) by 3:00 5:00 p.m., New York City time, on the requested date of such Swingline Loan.
Appears in 1 contract
Samples: Credit Agreement (American Axle & Manufacturing Holdings Inc)