Common use of Acquisition Facility Clause in Contracts

Acquisition Facility. Subject to the terms and conditions set forth herein, each Lender severally agrees to make loans (each such loan, an "Acquisition Loan") to the Borrowers from time to time, on any Business Day during the Availability Period, in an aggregate amount not to exceed at any time outstanding the amount of such Lender's Acquisition Commitment; provided, however, that after giving effect to any Borrowing of an Acquisition Loan, (i) the Total Acquisition Outstandings shall not exceed the Total Acquisition Commitment as in effect on such date, and (ii) the aggregate Outstanding Amount of the Acquisition Loans of any Lender shall not exceed such Lender's Acquisition Commitment. Within the limits of each Lender's Acquisition Commitment, and subject to the other terms and conditions hereof, the Borrowers may borrow under this Section 2(b), prepay under Section 2.4, and reborrow under this Section 2(b). Acquisition Loans may be Base Rate Loans, Cost of Funds Rate Loans or Eurodollar Rate Loans, as further provided herein. Acquisition Loans shall only be requested by the Borrowers, and the proceeds thereof shall only be used by the Borrowers, to fund all or any portion of a Permitted Acquisition.

Appears in 1 contract

Sources: Credit Agreement (Global Partners LP)

Acquisition Facility. Subject to the terms and conditions set forth herein, each Lender severally agrees to make loans (each such loan, an "Acquisition Loan") to the Borrowers from time to time, on any Business Day during the Availability Period, in an aggregate amount not to exceed at any time outstanding the amount of such Lender's Acquisition Commitment; provided, however, that after giving effect to any Borrowing of an Acquisition Loan, (i) the Total Acquisition Outstandings shall not exceed the Total Acquisition Commitment as in effect on such date, and (ii) the aggregate Outstanding Amount of the Acquisition Loans of any Lender shall not exceed such Lender's Acquisition Commitment. Within the limits of each Lender's Acquisition Commitment, and subject to the other terms and conditions hereof, the Borrowers may borrow under this Section 2(b), prepay under Section 2.42.04, and reborrow under this Section 2(b). Acquisition Loans may be Base Rate Loans, . Cost of Funds Rate Loans or Eurodollar Rate Loans, as further provided herein. Acquisition Loans shall only be requested by the Borrowers, and the proceeds thereof shall only be used by the Borrowers, to fund all or any portion of a Permitted Acquisition.

Appears in 1 contract

Sources: Credit Agreement (Global Partners LP)

Acquisition Facility. Subject to the terms and conditions set forth herein, each Lender severally agrees to make loans (each such loan, an "Acquisition Loan") to the Borrowers from time to time, on any Business Day during the Availability Period, in an aggregate amount not to exceed at any time outstanding the amount of such Lender's ’s Acquisition Commitment; provided, however, that after giving effect to any Borrowing of an Acquisition Loan, (i) the Total Acquisition Outstandings shall not exceed the Total Acquisition Commitment as in effect on such date, and (ii) the aggregate Outstanding Amount of the Acquisition Loans of any Lender shall not exceed such Lender's ’s Acquisition Commitment. Within the limits of each Lender's ’s Acquisition Commitment, and subject to the other terms and conditions hereof, the Borrowers may borrow under this Section 2(b2.1(b), prepay under Section 2.4, and reborrow under this Section 2(b2.1(b). Acquisition Loans may be Base Rate Loans, Cost of Funds Rate Loans or Eurodollar Rate Loans, as further provided herein. Acquisition Loans shall only be requested by the Borrowers, and the proceeds thereof shall only be used by the Borrowers, to fund all or any portion of a Permitted Acquisition.

Appears in 1 contract

Sources: Credit Agreement (Global Partners LP)