Funding of Committed Loans. Upon receipt of a Notice of Borrowing, the Administrative Agent shall promptly inform the Lenders as to the terms thereof. Each Revolving Loan [[Organization A:Organization]] shall make its Revolving Loan Commitment Percentage of the requested Committed Loans available to the Administrative Agent by 1:00 p.m. on the date specified in the Notice of Borrowing by deposit, in Dollars, of immediately available funds to the Administrative Agent at its principal office in New York City, New York or at such other address as the Administrative Agent may designate in writing. The amount of the requested Committed Loans will then be made available to the Borrowers by the Administrative Agent by crediting the account of the Borrowers on the books of such office of the Administrative Agent, to the extent the amount of such Committed Loans are made available to the Administrative Agent.
Method of Borrowing for Committed Loans. By no later than 11:00 a.m. (10:00 a.m. for LIBOR Loans and Base Rate Loans) # three Business Days prior to the date of the requested borrowing of Revolving Loans that will be Eurodollar Loans or # on the day of the requested borrowing of any Revolving Loans that will be LIBOR Loans or Base Rate Loans, the Borrowers shall submit an irrevocable written Notice of Borrowing in the form of [Exhibit 2.1](c) to the Administrative Agent setting forth # the amount
Committed Loan Notice. For purposes of a Borrowing of Alternative Currency Loans, or a continuation of and Alternative Currency Term Rate Loan, the Borrower shall use the Committed Loan Notice attached hereto as Exhibit A.
Committed Loan Notice. For purposes of a Borrowing of BSBY Rate Loans or BSBY Daily Floating Rate Loans, or a continuation of a BSBY Rate Loan, the Borrower shall use the Committed Loan Notice attached hereto as Exhibit B.
“Existing Committed Loans” means the “Committed Loans” as defined in the Existing Credit Agreement.
#By giving a Notice of Conversion, any Specified Borrower may elect from time to time # to convert such Specified Borrower’s Committed Rate Eurocurrency Loans in Dollars to Committed Rate ABR Loans or # to convert such Specified Borrower’s Committed Rate ABR Loans to Committed Rate Eurocurrency Loans in Dollars. Upon receipt of any Notice of Conversion the Applicable Administrative Agent shall promptly notify each relevant Bank thereof. All or any part of Committed Rate Eurocurrency Loans outstanding in Dollars or Committed Rate ABR Loans may be converted as provided herein, provided
After giving effect to all Committed Borrowings, all conversions of Committed Loans from one Type to another, and all continuations of Committed Loans as the same Type, there shall not be more than ten (10) Interest Periods in effect with respect to Committed Loans.
to the Administrative Agent, which may be given by # telephone or # a Committed Loan Notice; provided that any telephonic notice must be confirmed immediately by delivery to the Administrative Agent of a Committed Loan Notice. Each such Committed Loan Notice must be received by the Administrative Agent not later than 11:00 a.m. (i) two (2) Business Days prior to the requested date of any Committed Borrowing of, conversion to or continuation of Term SOFR Loans or of any conversion of Term SOFR Loans to Daily SOFR Loans or Base Rate Committed Loans, and # on the requested date of any Committed Borrowing of Daily SOFR Loans or Base Rate Committed Loans. Each Committed Borrowing of, conversion to or continuation of Term SOFR Loans shall be in a minimum principal amount of $2,500,000; provided that all Committed Borrowings of, conversions to and continuations of Term SOFR Loans requested to occur on the same Business Day shall be aggregated for purposes of determining whether such minimum principal amount requirement is satisfied. Except as provided in [Section 2.03(c)], each Committed Borrowing of or conversion to Base Rate Committed Loans or Daily SOFR Loans shall be in a minimum principal amount of $500,000 or a whole multiple of $100,000 in excess thereof; provided that all Committed Borrowings of and conversions to Base Rate Committed Loans or Daily SOFR Loans, as applicable, requested to occur on the same Business Day shall be aggregated for purposes of determining whether such minimum principal amount requirement is satisfied with respect to the applicable Type of Committed Loan. Each Committed Loan Notice (whether telephonic or written) shall specify # whether the Borrower is requesting a Revolving Credit Borrowing, an Incremental Term Loan Borrowing, conversion of Revolving Credit Loans or Incremental Term Loans from one Type to another, or a continuation of Term SOFR Loans, # the requested date of the Committed Borrowing, conversion or continuation, as the case may be (which shall be a Business Day), # the principal amount of Committed Loans to be borrowed, converted or continued, # the Type of Committed Loans to be borrowed or to which existing Committed Loans are to be converted and # if applicable, the duration of the Interest Period with respect thereto. If the Borrower fails to specify a Type of Committed Loan in a Committed Loan Notice or if the Borrower fails to give a timely notice requesting a conversion or continuation, then the applicable Committed Loans shall be made as, or converted to, Base Rate Loans. Any such automatic conversion to Base Rate Loans shall be effective as of the last day of the Interest Period then in effect with respect to the applicable Term SOFR Loans. If the Borrower requests a Committed Borrowing of, conversion to, or continuation of Term SOFR Loans in any such Committed Loan Notice, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one month.
whether or not the requested Interest Period has been consented to by all the . Each Borrowing of, conversion to or continuation of Eurocurrency Rate Loans shall be in an amount not less than the Minimum Principal Amount. Except as provided in Sections 2.04(c) and 2.05(c), each Committed Borrowing of or conversion to Base Rate Committed Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof. Each Committed Loan Notice shall specify # whether such Borrower is requesting a Committed Borrowing, a conversion of Committed Loans from one Type to the other, or a continuation of Eurocurrency Rate Loans, # the requested date of the Borrowing, conversion or continuation, as the case may be (which shall be a Business Day), # the principal amount of Committed Loans to be borrowed, converted or continued, # the Type of Committed Loans to be borrowed or to which existing Committed Loans are to be converted, # if applicable, the duration of the Interest Period with respect thereto and # the currency of the Committed Loans to be borrowed. If the relevant Borrower fails to specify a currency in a Committed Loan Notice requesting a Borrowing, then the Committed Loans so requested shall be made in Dollars. If such Borrower fails to specify a Type of Committed Loan in a Committed Loan Notice or if such Borrower fails to give a timely notice requesting a conversion or continuation, then the applicable Committed Loans shall be made as, or converted to, Base Rate Loans; provided, however, that in the case of a failure to timely request a continuation of Committed Loans denominated in an Alternative Currency, such Loans shall be continued as Eurocurrency Rate Loans in their original currency with an Interest Period of one month. Any automatic conversion to Base Rate Loans shall be effective as of the last day of the Interest Period then in effect with respect to the applicable Eurocurrency Rate Loans. If such Borrower requests a Borrowing of, conversion to, or continuation of Eurocurrency Rate Loans in any such Committed Loan Notice, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one month. No Committed Loan may be converted into or continued as a Committed Loan denominated in a different currency, but instead must be prepaid in the original currency of such Committed Loan and reborrowed in the other currency.
The outstanding principal amount of all Existing Committed Loans, together with all accrued and unpaid interest and fees with respect to the Revolving Credit Commitments and Existing Committed Loans under the Existing Credit Agreement as of (and immediately prior to giving effect to) the Restatement Effective Date, shall have been, or concurrently with the extensions of credit being made hereunder on the Restatement Effective Date will be, paid in full.
#If, for any reason, Committed Rate ABR Loans may not be made pursuant to paragraph # of this [subsection 2.11] to repay Specified Loans as required by such paragraph and the principal amount of any Specified Loans may not be converted into Dollars in the manner contemplated by paragraph # of this [subsection 2.11], # the Administrative Agent shall determine the Dollar Equivalent Amount of such Specified Loans (calculated on the basis of the Exchange Rate determined as of the Business Day immediately preceding the date on which Committed Rate ABR Loans would otherwise have been made pursuant to said paragraph (a)) and # effective on the date on which Committed Rate ABR Loans would otherwise have been made pursuant to said paragraph (a), each Bank severally, unconditionally and irrevocably agrees that it shall purchase in Dollars a participating interest in such Specified Loans in an amount equal to the amount of Committed Rate ABR Loans which would otherwise have been made by such Bank pursuant to paragraph # of this [subsection 2.11]. Each Bank will immediately transfer to the Administrative Agent, in immediately available funds, the amount of its participation, and the proceeds of such participation shall be distributed by the Administrative Agent to each relevant Bank having Specified Loans in such amount as will reduce the Dollar Equivalent Amount as of such date of the amount of the participating interest retained by such Bank in such Specified Loans to the amount of the Committed Rate ABR Loans which were to have been made by it pursuant to paragraph # of this [subsection 2.11]. Each Bank shall share on a pro rata basis (calculated by reference to its participating interest in such Specified Loans) in any interest which accrues thereon, in all repayments of principal thereof and in the benefits of any collateral furnished in respect thereof and the proceeds of such collateral.
#The Administrative Agent shall maintain the Register pursuant to [subsection 15.6(b)], and a subaccount therein for each Bank, in which shall be recorded # the amount of each Committed Rate Loan made hereunder and each Interest Period (if any) applicable thereto, # the amount of any principal or interest due and payable or to become due and payable from each Specified Borrower to each Bank under Committed Rate Loans and # the amount of any sum received by the Applicable Administrative Agent from each Specified Borrower in respect of Committed Rate Loans, and the amount of each Bank’s share thereof.
Subject to [Section 1.08(f)], each Committed Loan Notice (other than a Committed Loan Notice requesting only a conversion of Loans to another Type or a continuation of Eurocurrency Rate Loans or SOFR Loans) and each Issuance Notice submitted by the shall be deemed to be a representation and warranty that the condition specified in [Sections 4.02(a) and (b)])] has been satisfied on and as of the date of the applicable Borrowing or issuance, amendment, renewal or extension of a Letter of Credit.
“Outstanding Amount” means # with respect to Committed Loans on any date, the Dollar Equivalent amount of the aggregate outstanding principal amount thereof after giving
#If at any time the Committed Exposure of any Bank exceeds such Bank’s Revolving Commitment, upon demand of such Bank, the Company will within one Business Day prepay Loans in such amounts that after giving effect to such prepayment the Committed Exposure of such Bank does not exceed its Revolving Commitment.
“Revolving Credit Exposure” means, as to any Lender at any time, the aggregate principal amount at such time of its outstanding Committed Loans and such Lender’s participation in L/C Obligations and Swing Line Loans at such time.
#Interest on Swing Line Loans and Committed Rate Loans shall be payable in arrears on each Interest Payment Date; provided, that interest accruing pursuant to paragraph # of this subsection shall be payable from time to time on demand.
Each notice by the pursuant to this Section 2.01(b) must be delivered to the Administrative in the form of a Committed Loan Notice, appropriately completed and signed by a Responsible Officer of the . The Delayed Draw Term Loans shall be available in Borrowings of not less than $5,000,000 or, if less, the unfunded Delayed Draw Commitments then outstanding. Each Committed Loan Notice shall specify # that the is requesting a Term Loan Borrowing, # the requested date of the Borrowing (which shall be a Business Day), # the Type of Term Loans to be borrowed, # the principal amount of Term Loans to be borrowed and # if applicable, the duration of the Interest Period with respect thereto. If the fails to specify a Type of Term Loan in a Committed Loan Notice, then # in the case of Term Loans denominated in Dollars, the applicable Term Loans shall be made as Base Rate Loans and # in the case of Term Loans denominated in an Alternative Currency, the applicable Term Loans shall be made as Eurocurrency Rate Loans with an Interest Period of one month; provided that Delayed Draw Term Loans will initially be of the same Type and will have the same Interest Period as the Term Loans outstanding immediately prior to the Borrowing of such Delayed Draw Term Loans. If the requests a Borrowing of Eurocurrency Rate Loans in any such Committed Loan Notice, but fails to specify an Interest Period, for such Eurocurrency Rate Loans, the will be deemed to have specified an Interest Period of one month (other than with respect to a Delayed Draw Term Loan).
Obligations of Several. The obligations of the hereunder to make Committed Loans, to fund participations in Letters of Credit and Swing Line Loans and to make payments pursuant to [Section 10.04(c)] are several and not joint. The failure of any Lender to make any Committed Loan, to fund any such participation or to make any payment under [Section 10.04(c)] on any date required hereunder shall not relieve any other Lender of its corresponding obligation to do so on such date, and no Lender shall be responsible for the failure of any other Lender to so make its Committed Loan, to purchase its participation or to make its payment under [Section 10.04(c)].
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