Common use of Tranche C Loan Clause in Contracts

Tranche C Loan. To request the Borrowing of the Tranche C Loan, the Borrower shall notify the Administrative Agent of such request by telephone (x) in the case of a Eurodollar Borrowing, not later than 11:00 a.m., New York City time, on the date of the proposed Borrowing and (y) in the case of an ABR Borrowing, not later than 12:00 noon, New York City time on the date of the proposed Borrowing. Such telephonic notice shall be irrevocable and shall be confirmed promptly by hand delivery, courier or telecopy to the Administrative Agent of a written Borrowing Request in a form reasonably acceptable to the Administrative Agent and signed by the Borrower. Such telephone and written Borrowing Request shall specify the following information in compliance with Section 2.01: (i) the aggregate amount of the requested Borrowing (which shall be the amount of the Total Tranche C Commitment); (ii) the date of such Borrowing, which shall be a Business Day and the Effective Date; (iii) the portion of the Tranche C Loan that is to initially be an ABR Borrowing and that is to initially be a Eurodollar Borrowing; and (iv) in the case of such portion of the Tranche C Loan that is a Eurodollar Borrowing, the initial Interest Period applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”. If no election as to the Type of Borrowing is specified, then the Tranche C Loan shall initially be an ABR Borrowing. If no Interest Period is specified with respect to any portion of the Tranche C Loan that is to initially be a Eurodollar Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. Promptly following receipt of the Borrowing Request in accordance with this Section 2.04(c), the Administrative Agent shall advise each Tranche C Lender of the details thereof and of the amount of such Tranche C Lender’s Loan to be made as part of the requested Borrowing (which shall be equal to such Tranche C Lender’s Tranche C Commitment).

Appears in 1 contract

Samples: Revolving Credit, Term Loan and Guaranty Agreement

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Tranche C Loan. To request the Borrowing of the either Tranche C Loan, the Borrower shall notify the Administrative Agent of such request by telephone (x) in the case of a Eurodollar Borrowing, not later than 11:00 a.m., New York City time, on the date of the proposed Borrowing and (y) in the case of an ABR Borrowing, not later than 12:00 noon, New York City time on the date of the proposed Borrowing. Such telephonic notice shall be irrevocable and shall be confirmed promptly by hand delivery, courier or telecopy to the Administrative Agent of a written Borrowing Request in a form reasonably acceptable to the Administrative Agent and signed by the Borrower. Such telephone and written Borrowing Request shall specify the following information in compliance with Section 2.01: (i) the aggregate amount of the requested Borrowing (which shall be the amount of the Total Initial Tranche C Commitment, in the case of the Borrowing of the Initial Tranche C Loan, and the amount of the Total Subsequent Tranche C Commitment, in the case of the Borrowing of the Subsequent Tranche C Loan); (ii) the date of such Borrowing, which shall be (x) a Business Day and (y) in the case of the Initial Tranche C Loan, the Effective DateDate and in the case of the Subsequent Tranche C Loan, the last day of the Interest Period then applicable to the Initial Tranche C Loan; (iii) the portion of the Tranche C Loan such Borrowing that is to initially be an ABR Borrowing and that is to initially be a Eurodollar Borrowing; and (iv) in the case of such portion of the Tranche C Loan Borrowing that is a Eurodollar Borrowing, the initial Interest Period applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”. If no election as to the Type of Borrowing is specified, then the Tranche C Loan requested Borrowing shall initially be an ABR Borrowing. If no Interest Period is specified with respect to any portion of the either Tranche C Loan that is to initially be a Eurodollar Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. Promptly following receipt of the Borrowing Request in accordance with this Section 2.04(c), the Administrative Agent shall advise each Tranche C Lender of the details thereof and of the amount of such Tranche C Lender’s Loan to be made as part of the requested Borrowing (which shall be equal to such Tranche C Lender’s Initial Tranche C Commitment or Subsequent Tranche C Commitment, as the case may be).

Appears in 1 contract

Samples: Revolving Credit, Term Loan and Guaranty Agreement (Delphi Corp)

Tranche C Loan. To request the Borrowing of the theeither Tranche C Loan, the Borrower shall notify the Administrative Agent of such request by telephone (x) in the case of a Eurodollar Borrowing, not later than 11:00 a.m., New York City time, on the date of the proposed Borrowing and (y) in the case of an ABR Borrowing, not later than 12:00 noon, New York City time on the date of the proposed Borrowing. Such telephonic notice shall be irrevocable and shall be confirmed promptly by hand delivery, courier or telecopy to the Administrative Agent of a written Borrowing Request in a form reasonably acceptable to the Administrative Agent and signed by the Borrower. Such telephone and written Borrowing Request shall specify the following information in compliance with Section 2.01: (i) the aggregate amount of the requested Borrowing (which shall be the amount of the Total Initial Tranche C Commitment, in the case of the Borrowing of the Initial Tranche C Loan, and the amount of the Total Subsequent Tranche C Commitment, in the case of the Borrowing of the Subsequent Tranche C Loan); (ii) the date of such Borrowing, which shall be (x) a Business Day and (y) in the case of the Initial Tranche C Loan, the Effective DateDate and in the case of the Subsequent Tranche C Loan, the last day of the Interest Period then applicable to the Initial Tranche C Loan; (iii) the portion of the Tranche C Loan Loansuch Borrowing that is to initially be an ABR Borrowing and that is to initially be a Eurodollar Borrowing; and (iv) in the case of such portion of the Tranche C Loan LoanBorrowing that is a Eurodollar Borrowing, the initial Interest Period applicable thereto, which shall be a period contemplated by the definition of the term Interest Period”Period . If no election as to the Type of Borrowing is specified, then the Tranche C Loan requested Borrowing shall initially be an ABR Borrowing. If no Interest Period is specified with respect to any portion of the either Tranche C Loan that is to initially be a Eurodollar Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s month s duration. Promptly following receipt of the Borrowing Request in accordance with this Section 2.04(c), the Administrative Agent shall advise each Tranche C Lender of the details thereof and of the amount of such Tranche C Lender’s Lender s Loan to be made as part of the requested Borrowing (which shall be equal to such Tranche C Lender’s Lender s Initial Tranche C Commitment or Subsequent Tranche C Commitment, as the case may be).

Appears in 1 contract

Samples: Revolving Credit, Term Loan and Guaranty Agreement

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Tranche C Loan. To request the Borrowing of the Tranche C Loan, the Borrower shall notify the Administrative Agent of such request by telephone (x) in the case of a Eurodollar Borrowing, not later than 11:00 a.m.1:00 p.m., New York City time, on three (3) Business Days before the date of the proposed Borrowing and (y) in the case of an ABR Borrowing, not later than 12:00 noon, New York City time on the date of the proposed Borrowing. Such telephonic notice shall be irrevocable and shall be confirmed promptly by hand delivery, courier or telecopy to the Administrative Agent of a written Borrowing Request in a form reasonably acceptable to the Administrative Agent and signed by the Borrower. Such telephone and written Borrowing Request shall specify the following information in compliance with Section 2.01: (i) the aggregate amount of the requested Borrowing (which shall be the amount of the Total Tranche C Commitment); (ii) the date of such Borrowing, which shall be a Business Day and the Effective Closing Date; (iii) the portion of the Tranche C Loan that is to initially be an ABR Borrowing and that is to initially be a Eurodollar Borrowing; and (iv) in the case of such portion of the Tranche C Loan that is a Eurodollar Borrowing, the initial Interest Period applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”. If no election as to the Type of Borrowing is specified, then the Tranche C Loan shall initially be an ABR Borrowing. If no Interest Period is specified with respect to any portion of the Tranche C Loan that is to initially be a Eurodollar Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. Promptly following receipt of the Borrowing Request in accordance with this Section 2.04(c), the Administrative Agent shall advise each Tranche C Lender of the details thereof and of the amount of such Tranche C Lender’s Loan to be made as part of the requested Borrowing (which shall be equal to such Tranche C Lender’s Tranche C Commitment).

Appears in 1 contract

Samples: Revolving Credit, Term Loan and Guaranty Agreement (Delphi Corp)

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