PROCEDURE FOR BORROWING definition

PROCEDURE FOR BORROWING. The procedure for borrowing under this Section 2.1A shall be as follows: (a) Each such borrowing shall be made upon the Company's written notice ("Notice") to the Administrative Agent (which Notice must be received by the Administrative Agent prior to 11:00 a.m. New York time three (3) London Banking Days prior to the requested borrowing date in the event of a LIBOR Loan and by 11:00 a.m. New York time on the same Banking Day of the proposed date of such borrowing in the event of an Alternate Base Rate Loan). The Notice shall specify: (1) the amount of such borrowing; (2) the requested borrowing date which shall be a Banking Day or a London Banking Day, as the case may be; (3) the type of Loan(s) comprising such borrowing; and (4) the duration of the LIBOR Interest Period for any LIBOR Loan(s) and the maturity date of any Alternate Base Rate Loan(s) (which in either case shall not be later than the Termination Date). (b) The Administrative Agent shall promptly notify each Lender of (i) its receipt of a Notice of borrowing, (ii) the amount of each Lender's pro-rata share of such borrowing; and (iii) the name of the Company's bank, the Company's account number and American Banking Association routing number of the bank at which the Company's account is maintained and to which such pro-rata shares shall be routed. (c) Each Lender's pro-rata share of each Revolving Credit Loan shall be delivered by each such Lender to the Company not later than 3:00 p.m. New York time on the requested borrowing date, time being of the essence, in immediately available Dollars by wire transfer to an account of the Company designated by the Company, from time to time in writing to the Administrative Agent, with the account number and American Banking Association routing number of the bank at which such account is maintained.
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PROCEDURE FOR BORROWING. The procedure for borrowing under this Section 2.1A shall be as follows: (a) Each such borrowing shall be made upon the Company's written notice ("Notice") to the Administrative Agent (which Notice must be received by the Administrative Agent prior to 11:00 a.m. New York time three (3) London Banking Days prior to the requested borrowing date in the event of a LIBOR Loan and by 11:00 a.m. New York time on the same Banking Day of the proposed date of such borrowing in the event of an Alternate Base Rate Loan). The Notice shall specify: (1) the amount of the borrowing; (2) the requested borrowing date which shall be a Banking Day; (3) the type of Loan(s) comprising the borrowing; and (4) the duration of the LIBOR Interest Period for any LIBOR Loan(s) and the maturity date of any Alternate Base Rate Loan(s). (b) The Administrative Agent shall promptly notify each Bank of (i) its receipt of a Notice of borrowing, (ii) the amount of each Bank's pro-rata share of such borrowing; and (iii) the name of the Company's bank, the Company's account number and American Banking Association routing number of the bank at which the Company's account is maintained and to which such pro-rata shares shall be routed. (c) Each Bank's pro-rata share of each Revolving Credit Loan shall be delivered by each such Bank to the Company not later than 3:00 p.m. New York time on the last day of the notice period set forth herein, time being of the essence, in immediately available Dollars by wire transfer to an account of the Company designated by the Company, from time to time in writing to the Administrative Agent, with the account number and
Sample 1
PROCEDURE FOR BORROWING. The procedure for borrowing under this Section 2.1A shall be as follows: (a) Each such borrowing shall be made upon the Company's written notice ("Notice") to the Administrative Agent (which Notice must be received by the Administrative Agent prior to 11:00 a.m. New York time three (3) London
Sample 1

Examples of PROCEDURE FOR BORROWING in a sentence

  • GREENE COUNTY VOLUNTEER FIREMEN’S ASSOCIATION (REV.2/12) PROCEDURE FOR BORROWING ASSOCIATION PROPERTY AND SPEAKER SYSTEM 1.


More Definitions of PROCEDURE FOR BORROWING

PROCEDURE FOR BORROWING. The procedure for borrowing under this Section 2.1A shall be as follows: (a) Each such borrowing shall be made upon the Company's written notice ("Notice") to the Administrative Agent (which Notice must be received by the Administrative Agent prior to 11:00 a.m. New York time three (3) London Banking Days prior to the requested borrowing date in the event of a LIBOR Loan and by 11:00 a.m. New York time on the same Banking Day of the proposed date of such borrowing in the event of an Alternate Base Rate Loan). The Notice shall specify: (1) the amount of such borrowing; (2) the requested borrowing date which shall be a Banking Day or a London Banking Day, as the case may be; (3) the type of Loan(s) comprising such borrowing; and (4) the duration of the LIBOR Interest Period for any LIBOR Loan(s) and the maturity date of any Alternate Base Rate Loan(s) (which in either case shall not be later than the Termination Date). (b) The Administrative Agent shall promptly notify each Lender of (i) its receipt of a Notice of borrowing, (ii) the amount of each Lender's pro-rata share of such borrowing; and (iii) the name of the Company's bank, the Company's
Sample 1
PROCEDURE FOR BORROWING. The procedure for borrowing under this Section 2.1D shall be as follows: (a) Each such borrowing shall be made by Notice to the Competitive Advance Facility Agent (which Notice must be received by the Competitive Advance Facility Agent prior to 11:00 a.m. New York time four (4) London Banking Days prior to the requested borrowing date in the event of a Competitive Libor Loan and by 11:00 a.m. New York time one Banking Day prior to the proposed date of such borrowing in the event of a Fixed Rate Loan). Such Notice shall specify: (1) the amount of such borrowing; (2) the requested borrowing date which shall be a Banking Day or a London Banking Day, as the case may be; (3) the type of Loan(s) comprising such borrowing; and (4) the duration of the Competitive Libor Interest Period for any Competitive Libor Loan and the maturity date of any Fixed Rate Loan(s). (b) The Competitive Advance Facility Agent shall promptly notify each Lender of its receipt of a request for a Competitive Loan thereby inviting the Lenders to submit Competitive Bids. Any such notice shall identify the name of the Company's bank, the Company's account number and American Banking Association routing number of the bank at which the Company's account is maintained and to which the proceeds from any Competitive Loan shall be routed. (c) Each Lender may (but shall not have any obligation to) make one or more Competitive Bids to the Company in response to a Competitive Bid Request. Each Competitive Bid by a Lender must be in a form approved by the Competitive Advance Facility Agent and must be received by the Competitive Advance Facility Agent by telecopy, in the case of a Competitive Libor Loan, not later than 10:00 a.m., New York time, three (3) London Banking Days before the proposed date of such Competitive Borrowing, and in the case of a Fixed Rate Loan, not later than 10:00 a.m., New York time, on the proposed date of such Competitive Borrowing. Competitive Bids that do not conform substantially to the form approved by the Competitive Advance Facility Agent may be rejected by the Competitive Advance Facility Agent, and the Competitive Advance Facility Agent shall notify the applicable Lender as promptly as practicable. Each Competitive Bid shall be in aggregate amounts of not less than Five Million Dollars ($5,000,000) or any greater amount evenly divisible by One Million Dollars ($1,000,000) and may equal the entire principal amount of the Competitive Borrowing requested by the Company....
Sample 1
PROCEDURE FOR BORROWING. The procedure for borrowing under this Section 2.1D shall be as follows: (a) Each such borrowing shall be made by Notice to the Competitive Advance Facility Agent (which Notice must be received by the Competitive Advance Facility Agent prior to 11:00 a.m. New York time four (4) London Banking Days prior to the requested borrowing date in the event of a Competitive Libor Loan and by 11:00 a.m. New York time one Banking Day prior to the proposed date of such borrowing in the event of a Fixed Rate Loan). Such Notice shall specify: (1) the amount of such borrowing; (2) the requested borrowing date which shall be a Banking Day or a London Banking Day, as the case may be; (3) the type of Loan(s) comprising such borrowing; and (4) the duration of the Competitive Libor Interest Period for any Competitive Libor Loan and the maturity date of any Fixed Rate Loan(s).
Sample 1
PROCEDURE FOR BORROWING. Subject to Section 2.1(e), each Borrowing shall be made by an irrevocable written request by an Authorized Person delivered to Agent (which notice must be received by Agent no later than 10:00 a.m. (California time) on the Business Day prior to the date that is the requested Funding Date in the case of a request for an Advance or the Term Loan specifying (i) the amount of such Borrowing, and (ii) the requested Funding Date, which shall be a Business Day; provided, however, that in the case of a request for Swing Loan in an amount of $5,000,000 or less, such notice will be timely received if it is received by Agent no later than 10:00 a.m. (California time) on the Business Day that is the requested Funding Date) specifying (i) the amount of such Borrowing, and (ii) the requested Funding Date, which shall be a Business Day. At Agent's election, in lieu of delivering the above-described written request, any Authorized Person may give Agent telephonic notice of such request by the required time, with such telephonic notice to be confirmed in writing within 24 hours of the giving of such notice."
Sample 1

Related to PROCEDURE FOR BORROWING

  • Request for Borrowing has the meaning provided in Section 2.3(a).

  • LIBOR Borrowing means a Borrowing comprised of LIBOR Loans.

  • RFR Borrowing means, as to any Borrowing, the RFR Loans comprising such Borrowing.

  • Notice of Revolving Borrowing shall have the meaning as set forth in Section 2.3.

  • SOFR Borrowing means, as to any Borrowing, the SOFR Loans comprising such Borrowing.

  • Eurodollar Revolving Borrowing means a Borrowing comprised of Eurodollar Revolving Loans.

  • Fixed Rate Borrowing means a Borrowing comprised of Fixed Rate Loans.

  • Eurocurrency Revolving Facility Borrowing means a Borrowing comprised of Eurocurrency Revolving Loans.

  • Refunding Borrowing means a Committed Borrowing which, after application of the proceeds thereof, results in no net increase in the outstanding principal amount of Committed Loans made by any Bank.

  • Revolving Borrowing means a borrowing consisting of simultaneous Revolving Loans of the same Type and, in the case of Eurodollar Rate Loans, having the same Interest Period made by each of the Lenders pursuant to Section 2.01.

  • Base Rate Borrowing means a Borrowing comprised of Base Rate Loans.

  • L/C Borrowing means an extension of credit resulting from a drawing under any Letter of Credit which has not been reimbursed on the date when made or refinanced as a Revolving Credit Borrowing.

  • Eurodollar Term Loan means any Term Loan bearing interest at a rate determined by reference to the Adjusted LIBO Rate in accordance with the provisions of Article II.

  • Eurodollar Rate Borrowing means a Borrowing comprised of Eurodollar Rate Loans.

  • Notice of Swingline Borrowing shall have the meaning set forth in Section 2.4.

  • Initial Revolving Borrowing means one or more borrowings of Revolving Credit Loans or issuances or deemed issuances of Letters of Credit on the Closing Date as specified in the definition of the term “Permitted Initial Revolving Borrowing.”

  • Money Market Absolute Rate Loan means a loan to be made by a Bank pursuant to an Absolute Rate Auction.

  • Mandatory Borrowing shall have the meaning provided in Section 2.1(d).

  • Borrowing means Loans of the same Type, made, converted or continued on the same date and, in the case of Eurodollar Loans, as to which a single Interest Period is in effect.

  • Eurocurrency Borrowing means a Borrowing comprised of Eurocurrency Loans.

  • Term Loan Borrowing means a borrowing consisting of simultaneous Term Loans of the same Type and, in the case of Eurocurrency Rate Loans, having the same Interest Period made by each of the Term Loan Lenders pursuant to Section 2.01(a).

  • Revolving Loan Borrowing means a borrowing of a Revolving Loan.

  • Eurocurrency Revolving Loan means any Revolving Facility Loan bearing interest at a rate determined by reference to the Adjusted LIBO Rate in accordance with the provisions of Article II.

  • Term SOFR Borrowing means a Borrowing comprised of Term SOFR Loans.

  • Fixed Rate Loans means Euro-Dollar Loans or Money Market Loans (excluding Money Market LIBOR Loans bearing interest at the Base Rate pursuant to Section 8.01(a)) or any combination of the foregoing.

  • Term B Borrowing means a borrowing consisting of simultaneous Term B Advances of the same Type made by the Term B Lenders.