Common use of Minimum Amounts of Tranches Clause in Contracts

Minimum Amounts of Tranches. All borrowings of Committed Rate Loans and Swing Line Loans, all conversions and continuations of Committed Rate Loans and all selections of Interest Periods shall be in such amounts and be made pursuant to such elections so that, after giving effect thereto, the aggregate principal amount of (i) in the case of Eurocurrency Loans or Committed Rate Loans comprising each Tranche in Dollars shall be not less than $5,000,000, (ii) in the case of ABR Loans or Committed Rate Loans comprising each Tranche in Dollars shall not be less than $1,000,000 and (iii) Committed Rate Loans comprising each Tranche in any Available Foreign Currency shall be not less than the Dollar Equivalent Amount in such Currency of $5,000,000; provided that any borrowing of Committed Rate Loans may be in an aggregate amount that is equal to the entire unused balance of the Total Revolving Commitments and any borrowing of Swing Line Loans may be in an aggregate amount that is equal to the entire unused balance of the Total Swing Line Commitments.

Appears in 3 contracts

Samples: Credit Agreement (Arrow Electronics Inc), Credit Agreement (Arrow Electronics Inc), Joinder Agreement (Arrow Electronics Inc)

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Minimum Amounts of Tranches. All borrowings of Committed Rate Loans and Swing Line Loansborrowings, all conversions and continuations of Term Loans and Committed Rate Loans and all selections of Interest Periods shall be in such amounts and be made pursuant to such elections so that, after giving effect thereto, the aggregate principal amount of (i) in the case of Eurocurrency Loans, the Term Loans or Committed Rate Loans comprising each Tranche in Dollars shall be not less than $5,000,000, (ii) in the case of ABR Loans, the Term Loans or Committed Rate Loans comprising each Tranche in Dollars shall not be less than $1,000,000 and (iii) Committed Rate Loans comprising each Tranche in any Available Foreign Currency shall be not less than the Dollar Equivalent Amount in such Currency of $5,000,000; provided that any borrowing of Committed Rate Loans may be in an aggregate amount that is equal to the entire unused balance of the Total Revolving Commitments and any borrowing of Swing Line Loans may be in an aggregate amount that is equal to the entire unused balance of the Total Swing Line Commitments.

Appears in 1 contract

Samples: Credit Agreement (Arrow Electronics Inc)

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