Common use of Commitment of Each Lender Clause in Contracts

Commitment of Each Lender. (a) Each Lender shall, from the Closing Date to the Commitment Termination Date and subject to the terms and conditions hereof, severally, but not jointly, make revolving loans (each a "Revolving Loan" and, collectively, the "Revolving Loans") to the Borrower equal to its Revolving Percentage of the aggregate amount of any Revolving Borrowing requested from all Lenders. The commitment of each Lender described in this Section 2.1.1(a) is herein referred to as its "Revolving Commitment" and, together with its Revolving Percentage, is set forth in Schedule 1 hereto. Each Revolving Loan shall be denominated in Dollars and, except as provided below, each Loan made by a Lender other than a CP Conduit, at the Borrower's option, may be incurred and maintained as and/or converted into Base Rate Loans or Eurodollar Rate Loans and each Loan made by a CP Conduit shall be incurred and maintained as a Cost of Funds Rate Loan. Subject to the terms hereof, the Borrower may from time to time borrow, prepay, repay and reborrow Revolving Loans pursuant to the Revolving Commitments.

Appears in 2 contracts

Samples: Credit Agreement (Special Value Opportunities Fund LLC), Credit Agreement (Special Value Expansion Fund, LLC)

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Commitment of Each Lender. (a) Each Lender shall, from the Closing Date to the Commitment Termination Date and subject to the terms and conditions hereof, severally, but not jointly, make revolving loans (each each, a "Revolving Loan" and, collectively, the "Revolving Loans") to the Borrower equal to its Revolving Percentage of the aggregate amount of any Revolving Borrowing requested from all Lenders. The commitment of each Lender described in this Section subsection 2.1.1(a) is herein referred to as its "Revolving Commitment" and, together with its Revolving Percentage, is set forth in Schedule 1 hereto. Each Revolving Loan shall be denominated in either Dollars or Euros, at the election of the Borrower, and, except as provided below, each Loan made by a Lender other than a CP Conduit, at the Borrower's option, may Conduit shall be incurred and maintained only as and/or converted into Base Rate Loans a LIBOR Loan or Eurodollar Rate Loans a EURIBOR Loan, and each Loan made by a CP Conduit shall be incurred and maintained only as a Cost of Funds Rate Dollar Loan or a Cost of Funds Rate Euro Loan. A maximum of 22.5% of each Revolving Commitment on a Dollar Equivalent basis shall be available for the purpose of making EURIBOR Loans or Cost of Funds Rate Euro Loans, as applicable. Subject to the terms hereof, the Borrower may from time to time borrow, prepay, repay and reborrow Revolving Loans pursuant to the Revolving Commitments.

Appears in 1 contract

Samples: Credit Agreement (Tennenbaum Opportunities Partners V, LP)

Commitment of Each Lender. (a) Each Lender shall, from the Closing Date to the Commitment Termination Date and subject to the terms and conditions hereof, severally, but not jointly, make revolving loans (each a "Revolving Loan" and, collectively, the "Revolving Loans") to the Borrower equal to its Revolving Percentage of the aggregate amount of any Revolving Borrowing requested from all Lenders. The commitment of each Lender described in this Section 2.1.1(a) is herein referred to as its "Revolving Commitment" and, together with its Revolving Percentage, is set forth in Schedule 1 hereto. Each Revolving Loan shall be denominated in Dollars and, except as provided below, each Loan made by a Lender other than a CP Conduit, at the Borrower's option, may Conduit shall be incurred and maintained only as and/or converted into Base Rate Loans or Eurodollar Rate Loans a LIBOR Loan, and each Loan made by a CP Conduit shall be incurred and maintained only as a Cost of Funds Rate Loan. Subject to the terms hereof, the Borrower may from time to time borrow, prepay, repay and reborrow Revolving Loans pursuant to the Revolving Commitments.

Appears in 1 contract

Samples: Credit Agreement (Special Value Continuation Partners, LP)

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Commitment of Each Lender. (a) Each Lender shall, from the Closing Date to the Commitment Termination Date and subject to the terms and conditions hereof, severally, but not jointly, make revolving loans (each a "Revolving Loan" and, collectively, the "Revolving Loans") to the Borrower equal to its Revolving Percentage of the aggregate amount of any Revolving Borrowing requested from all Lenders. The commitment of each Lender described in this Section 2.1.1(a) is herein referred to as its "Revolving Commitment" and, together with its Revolving Percentage, is set forth in Schedule 1 hereto. Each Revolving Loan shall be denominated in Dollars and, except as provided below, each Loan made by a Lender other than a CP Conduit, at the Borrower's option, may Conduit shall be incurred and maintained only as and/or converted into Base Rate Loans or Eurodollar Rate Loans a LIBOR Loan, and each Loan made by a CP Conduit shall be incurred and maintained only as a Cost of Funds Rate Loan. Subject to the terms hereof, the Borrower may from time to time borrow, prepay, repay and reborrow Revolving Loans pursuant to the Revolving Commitments.

Appears in 1 contract

Samples: Credit Agreement (Special Value Continuation Partners, LP)

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