Common use of Revolving Loan Clause in Contracts

Revolving Loan. Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of Borrower and the other Loan Parties set forth herein and in the other Loan Documents, each Lender, severally, agrees to lend to Borrower from time to time, its Pro Rata Share of each Revolving Advance. From and after the Closing Date through the Termination Date, the aggregate amount of all Revolving Loan Commitments shall not exceed the following amounts during the following periods: (i) from and after July 30, 1999, to and including August 9, 1999, Nineteen Million Dollars ($19,000,000); (ii) on and after August 10, 1999, to and including August 30, 1999, Sixteen Million Dollars ($16,000,000); and (iv) on and after August 31, 1999, Fifteen Million Dollars ($15,000,000), each as reduced by subsection 2.4(B). Amounts borrowed under this subsection 2.1(A) may be repaid and reborrowed at any time prior to the earlier of (i) the termination of the Revolving Loan Commitment pursuant to subsection 8.3 or (ii) the Termination Date. Except as otherwise provided herein no Lender shall have any obligation to make an advance under this subsection 2.1(A) to the extent such advance would cause the Revolving Loan (after giving effect to any immediate application of the proceeds thereof) to exceed the Maximum Revolving Loan Amount.

Appears in 2 contracts

Samples: Restatedloan and Security Agreement (Tower Air Inc), Restatedloan and Security Agreement (Tower Air Inc)

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Revolving Loan. Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of Borrower and the other Loan Parties set forth herein and in the other Loan Documents, each Lender, severally, agrees to lend to Borrower from time to time, its Pro Rata Share of each Revolving Advance. From and after the Closing Date through the Termination Date, the aggregate amount of all Revolving Loan Commitments shall not exceed the following amounts during the following periods: (i) from and after July 30August 6, 1999, to and including August 9September 2, 1999, Nineteen Million Dollars ($19,000,000); (ii) on and after August September 3, 1999, to and including September 9, 1999, Eighteen Million Two Hundred Fifty Thousand Dollars ($18,250,000); (iii) on and after September 10, 1999, to and including August 30September 16, 1999, Seventeen Million Five Hundred Thousand Dollars ($17,500,000); (iv) on and after September 17, 1999, to and including September 23, 1999, Sixteen Million Seven Hundred Fifty Thousand Dollars ($16,750,000); (v) on and after September 24, 1999, to and including September 29, 1999, Sixteen Million Dollars ($16,000,000); and (ivvi) on and after August 31September 30, 1999, Fifteen Million Dollars ($15,000,000), each as reduced by subsection 2.4(B). Amounts borrowed under this subsection 2.1(A) may be repaid and reborrowed at any time prior to the earlier of (i) the termination of the Revolving Loan Commitment pursuant to subsection 8.3 or (ii) the Termination Date. Except as otherwise provided herein no Lender shall have any obligation to make an advance under this subsection 2.1(A) to the extent such advance would cause the Revolving Loan (after giving effect to any immediate application of the proceeds thereof) to exceed the Maximum Revolving Loan Amount.

Appears in 2 contracts

Samples: Restatedloan and Security Agreement (Tower Air Inc), Restatedloan and Security Agreement (Tower Air Inc)

Revolving Loan. Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of Borrower and the other Loan Parties set forth herein and in the other Loan Documents, each Lender, severally, agrees to lend to Borrower from time to time, its Pro Rata Share of each Revolving Advance. From and after the Closing Date through the Termination Date, the aggregate amount of all Revolving Loan Commitments shall not exceed the following amounts during the following periods: (i) from and after July 30April 14, 1999, to and including August 9June 21, 1999, Nineteen Twenty Million Dollars ($19,000,00020,000,000“); (ii) on and after August 10June 21, 1999, to and including June 29, 1999, Nineteen Million Dollars (“$19,000,000“); (iii) on and after June 30, 1999, to and including July 30, 1999, Eighteen Million Dollars (“$18,000,000“); (iii) on and after July 31, 1999, to and including August 30, 1999, Sixteen Million Dollars ($16,000,000); and (iv) on and after August 31, 1999, Fifteen Million Dollars ($15,000,000), each as reduced by subsection 2.4(B). Amounts borrowed under this subsection 2.1(A) may be repaid and reborrowed at any time prior to the earlier of (i) the termination of the Revolving Loan Commitment pursuant to subsection 8.3 or (ii) the Termination Date. Except as otherwise provided herein no Lender shall have any obligation to make an advance under this subsection 2.1(A) to the extent such advance would cause the Revolving Loan (after giving effect to any immediate application of the proceeds thereof) to exceed the Maximum Revolving Loan Amount.

Appears in 2 contracts

Samples: Loan and Security Agreement (Tower Air Inc), Loan and Security Agreement (Tower Air Inc)

Revolving Loan. Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of Borrower and the other Loan Parties set forth herein and in the other Loan Documents, each Lender, severally, agrees to lend to Borrower from time to time, its Pro Rata Share of each Revolving Advance. From and after the Closing Date through the Termination Date, the aggregate amount of all Revolving Loan Commitments shall not exceed the following amounts during the following periods: (i) from and after July 30April 14, 1999, to and including August 9June 21, 1999, Nineteen Twenty Million Dollars ($19,000,00020,000,000“); (ii) on and after August 10June 21, 1999, to and including July 30, 1999, Nineteen Million Dollars (“$19,000,000“); (iii) on and after July 31, 1999, to and including August 30, 1999, Sixteen Million Dollars ($16,000,000); and (iv) on and after August 31, 1999, Fifteen Million Dollars ($15,000,000), each as reduced by subsection 2.4(B). Amounts borrowed under this subsection 2.1(A) may be repaid and reborrowed at any time prior to the earlier of (i) the termination of the Revolving Loan Commitment pursuant to subsection 8.3 or (ii) the Termination Date. Except as otherwise provided herein no Lender shall have any obligation to make an advance under this subsection 2.1(A) to the extent such advance would cause the Revolving Loan (after giving effect to any immediate application of the proceeds thereof) to exceed the Maximum Revolving Loan Amount.

Appears in 2 contracts

Samples: Loan and Security Agreement (Tower Air Inc), Loan and Security Agreement (Tower Air Inc)

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Revolving Loan. Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of Borrower and the other Loan Parties set forth herein and in the other Loan Documents, each Lender, severally, agrees to lend to Borrower from time to time, its Pro Rata Share of each Revolving Advance. From and after the Closing Date through the Termination Date, the aggregate amount of all Revolving Loan Commitments shall not exceed the following amounts during the following periods: (i) from and after July 30September 8, 1999, to and including August 9September 12, 1999, Nineteen Million Dollars ($19,000,000); (ii) on and after August 10September 13, 1999, to and including August 30September 19, 1999, Eighteen Million Dollars ($18,000,000); (iii) on and after September 20, 1999, to and including September 26, 1999, Seventeen Million Dollars ($17,000,000); (iv) on and after September 27, 1999, to and including September 29, 1999, Sixteen Million Dollars ($16,000,000); and (ivv) on and after August 31September 30, 1999, Fifteen Million Dollars ($15,000,000), each as reduced by subsection 2.4(B). Amounts borrowed under this subsection 2.1(A) may be repaid and reborrowed at any time prior to the earlier of (i) the termination of the Revolving Loan Commitment pursuant to subsection 8.3 or (ii) the Termination Date. Except as otherwise provided herein no Lender shall have any obligation to make an advance under this subsection 2.1(A) to the extent such advance would cause the Revolving Loan (after giving effect to any immediate application of the proceeds thereof) to exceed the Maximum Revolving Loan Amount.

Appears in 1 contract

Samples: Restatedloan and Security Agreement (Tower Air Inc)

Revolving Loan. Subject to the terms and conditions of this -------------- Agreement and in reliance upon the representations and warranties of Borrower and the other Loan Parties set forth herein and in the other Loan Documents, each Lender, severally, agrees to lend to Borrower from time to time, time its Pro Rata Share of each Revolving Advance. From and after the Closing Date through the Termination Date, the aggregate amount of all Revolving Loan Commitments shall not exceed the following amounts during the following periods: (i) from and after July 30, 1999, the Closing Date (and thereafter on each successive September 1) to and including August 9the following September 30, 1999, Nineteen Twenty Million Dollars ($19,000,00020,000,000); , (ii) on and after August 10each successive October 1 to and including the following February 28, 1999Twenty-Five Million Dollars ($25,000,000), (iii) on and after each successive March 1, to and including August 30the following May 31, 1999, Sixteen Twenty Million Dollars ($16,000,00020,000,000); and , (iv) on and after each successive June 1 to and including the following August 31, 1999, Fifteen Million Dollars ($15,000,000), each as reduced by subsection 2.4(B); provided, however, that in the final month prior ----------------- to the Termination Date, the amount of all Revolving Loan Commitments shall not exceed Fifteen Million Dollars ($15,000,000). Amounts borrowed under this subsection 2.1(A) may be repaid and reborrowed at any time prior to the earlier ----------------- of (i) the termination of the Revolving Loan Commitment pursuant to subsection ---------- 8.3 or (ii) the Termination Date. Except as otherwise provided herein herein, no ----------- Lender shall have any obligation to make an advance under this subsection 2.1(A) ----------------- to the extent such advance would cause the Revolving Loan (after giving effect to any immediate application of the proceeds thereof) to exceed the Maximum Revolving Loan Amount.

Appears in 1 contract

Samples: Loan and Security Agreement (Tower Air Inc)

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