Common use of Commitment Percentages Clause in Contracts

Commitment Percentages. The obligation of each Bank to make a Loan to the Borrowers at any time shall be limited to its percentage (the "Commitment Percentage") as set forth opposite its name on Exhibit B hereto multiplied by the aggregate principal amount of the Loan requested. The principal amounts of the respective Loans made by the Banks on the occasion of each borrowing shall be pro rata in accordance with their respective Commitment Percentages. No Bank shall be required or permitted to make any Loan if, immediately after giving effect to such Loan, and the application of the proceeds of a Loan to the extent applied to the repayment of the Loans, the sum of such Bank's Loans and Swing Line Loans (in the case of the Swing Line Bank) outstanding would exceed such Bank's Loan Commitment.

Appears in 2 contracts

Samples: Credit Agreement (Eplus Inc), Credit Agreement (Eplus Inc)

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Commitment Percentages. The obligation of each Bank to make a Loan to the Borrowers at any time shall be limited to its percentage (the "Commitment Percentage") as set forth opposite its name on Exhibit B A hereto multiplied by the aggregate principal amount of the Loan requested. The principal amounts of the respective Loans made by the Banks on the occasion of each borrowing shall be pro rata in accordance with their respective Commitment Percentages. No Bank shall be required or permitted to make any Loan if, immediately after giving effect to such Loan, and the application of the proceeds of a Loan to the extent applied to the repayment of the Loans, the sum of such Bank's Loans and Swing Line Loans (in the case of the Swing Line Bank) outstanding would exceed such Bank's Loan Commitment.

Appears in 2 contracts

Samples: Credit Agreement (Eplus Inc), Credit Agreement (MLC Holdings Inc)

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Commitment Percentages. The obligation of each Bank to make a Loan to the Borrowers at any time shall be limited to its percentage (the "Commitment Percentage") as set forth opposite its name on Exhibit B hereto multiplied by the aggregate principal amount of the Loan requested. The principal amounts of the respective Loans made by the Banks on the occasion of each borrowing shall be pro rata in accordance with their respective Commitment Percentages. No Bank shall be required or permitted to make any Loan if, immediately after giving effect to such Loan, and the application of the proceeds of a Loan to the extent applied to the repayment of the Loans, the sum of such Bank's Loans and Swing Line Loans (in the case of the Swing Line Bank) outstanding would exceed such Bank's Loan Commitment.

Appears in 1 contract

Samples: Credit Agreement (Eplus Inc)

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