Common use of Acceptance Commitment Clause in Contracts

Acceptance Commitment. (a) Upon the terms and subject to the conditions hereof, the Administrative Agent agrees, at any time and from time to time during the Acceptance Availability Period, to create Acceptances for the Company maturing on a Business Day not less than 30 days or more than 90 days after the creation thereof and in any event not later than the last day of the Acceptance Availability Period; provided, however, that at any time during the Revolving Credit Availability Period, (i) Aggregate Outstandings of all Banks shall not exceed the Aggregate Revolving Commitment, and (ii) the sum of (A) each Bank's Pro Rata Share multiplied by the sum of the aggregate unpaid face amount of all unmatured Acceptances and the aggregate amount of all outstanding Acceptance Obligations plus (B) the aggregate unpaid principal amount of such Bank's Committed Loans outstanding hereunder shall not exceed the amount of such Bank's Revolving Commitment which, for purposes of this clause (B), shall be reduced by an amount equal to the product obtained by multiplying such Bank's Pro Rata Share by the sum of (y) the aggregate unpaid principal amount of all outstanding Bid Loans and (z) the sum of the aggregate unpaid face amount of all unmatured Bid Bankers Acceptances and the aggregate amount of all outstanding Bid Bankers Acceptance Obligations. (b) During the Acceptance Availability Period, the Company may request Acceptances in accordance with the provisions hereof. (c) Each Acceptance shall be created by the Administrative Agent's acceptance of Drafts drawn on it in accordance with the terms of this Agreement. Each drawing of one or more Drafts on any Drawing Date (a "Drawing") shall be in an aggregate face amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereof.

Acceptance Commitment. (a) Upon the terms and subject to the conditions hereof, the Administrative Agent agrees, at any time and from time to time during the Acceptance Availability Period, to create Acceptances for the Company maturing on a Business Day not less than 30 days or more than 90 days after the creation thereof and in any event not later than the last day of the Acceptance Availability Period; provided, however, that at any time during the Revolving Credit Availability Period, (i) Aggregate Outstandings of all Banks shall not exceed the Aggregate Revolving Commitment, and (ii) the sum of (A) each Bank's Pro Rata Share multiplied by the sum of the aggregate unpaid face amount of all unmatured Acceptances and the aggregate amount of all outstanding Acceptance Obligations plus (B) the aggregate unpaid principal amount of such Bank's Committed Loans outstanding hereunder shall not exceed the amount of such Bank's Revolving Commitment which, for purposes of this clause (B), shall be reduced by an amount equal to the product obtained by multiplying such Bank's Pro Rata Share by the sum of (y) the aggregate unpaid principal amount of all outstanding Bid Loans and (z) the sum of the aggregate unpaid face amount of all unmatured Bid Bankers Acceptances and the aggregate amount of all outstanding Bid Bankers Acceptance ObligationsLoans. (b) During the Acceptance Availability Period, the Company may request Acceptances in accordance with the provisions hereof. (c) Each Acceptance shall be created by the Administrative Agent's acceptance of Drafts drawn on it in accordance with the terms of this Agreement. Each drawing of one or more Drafts on any Drawing Date (a "Drawing") shall be in an aggregate face amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereof.