Advances and Letters of Credit. In no event shall the Bank have any obligation to make an Advance pursuant to the Loan Commitment or issue a Letter of Credit hereunder if there exists a Default Condition or an Event of Default.
Advances and Letters of Credit. Subject to and upon the provisions of this Agreement and relying upon the representations and warranties herein set forth, the Lender agrees at any time and from time to time to make Advances to the Borrowers and issue Letters of Credit for the account of the Borrowers from the date hereof until the earlier of the Revolving Credit Expiration Date or the date on which this Revolving Credit Facility is terminated pursuant to Section 7 hereof, in an aggregate principal amount at any time outstanding not to exceed the lesser of (i) the Revolving Credit Amount or (ii) the Borrowing Base; provided, however, that in no event shall the total Letter of Credit Exposure exceed $2,000,000 at any one time. KEYW and Subsidiaries Credit and Security Agreement In no event shall the Lender be obligated to make an Advance or issue a Letter of Credit hereunder if a Default shall have occurred and be continuing. Unless sooner terminated pursuant to other provisions of this Agreement, this Revolving Credit Facility and the obligation of the Lender to make Advances and issue Letters of Credit hereunder shall automatically terminate on the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Lender. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and re-borrow under this Revolving Credit Facility. The fact that there may be no Advances or Letters of Credit outstanding at any particular time shall not affect the continuing validity of this Agreement. All Advances must be in the minimum amount of One Hundred Thousand Dollars ($100,000) and integral multiples of Fifty Thousand Dollars ($50,000) in excess thereof. All Advances requested by the Borrowers are to be in writing pursuant to a written request ("Advance/Continuation Request") in the form of Exhibit B attached hereto. Each such Advance/Continuation Request must be received by the Lender not later than 11:00 a.m., Baltimore, Maryland time, three (3) Business Days prior to the requested date of any Advance and must specify the amount of the Advance and the Interest Period. If no Interest Period is specified, the Interest Period shall be deemed to be a one month period. Upon receiving an Advance/Continuation Request for an Advance in accordance with the foregoing sentence, and subject to the conditions set forth in this Agreement, the Lender shall make the requested Advance available to the Borrowers as soon as is re...
Advances and Letters of Credit. (a) Subject to the provisions of this Agreement, including without limitation the satisfaction of the conditions described in Article III, Lender agrees to establish a Revolving Loan Facility pursuant to which Lender may, in its sole discretion upon request of Borrower, make and incur Credit Accommodations in support of Export Orders, provided the Credit Accommodation Amount at any time shall not exceed the lesser of (i) the Maximum Amount, and (ii) the Export-Related Borrowing Base. All Letters of Credit issued shall be in Dollars and all Disbursements shall be made in Dollars.
Advances and Letters of Credit. The proceeds of the Advances and the Letters of Credit will be used by the Borrower (i) to refinance existing Indebtedness, (ii) pay fees and expenses incurred in connection with the transactions contemplated hereby, and (iii) for working capital and general corporate purposes of the Borrower and its Subsidiaries.
Advances and Letters of Credit. (a) Subject to the terms and conditions hereof, Lender may, in its sole discretion and with no obligation to do so, from time to time, at Lender’s option, until the Revolving Credit Termination Date, (i) make available advances (each, a “Revolving Credit Advance”) to or for the benefit of Borrower as provided for in this Section 2.1, and (ii) incur Letter of Credit Obligations in respect of Borrower as provided for in Annex B and this Section 2.1 in an aggregate amount outstanding not to exceed at any one time the Revolving Credit Ceiling less the outstanding balance of all undrawn or unreimbursed Letters of Credit.
Advances and Letters of Credit. The proceeds of the Advances and the Letters of Credit will be used by the Borrower (i) to fund the consideration for the Merger, (ii) refinance existing Indebtedness, (iii) for working capital and general corporate purposes of the Borrower and its Subsidiaries, and (iv) to support commercial paper issued by the Borrower.
Advances and Letters of Credit. The proceeds of the Advances and the Letters of Credit will be used by the Borrower to refinance existing Indebtedness under the Existing Credit Agreement and for working capital and general corporate purposes of the Borrower and its Subsidiaries.
Advances and Letters of Credit. (i) The Lenders shall not be required to make any Advance or issue any Letters of Credit unless the Borrower has furnished to the Administrative Agent each of the following, with sufficient copies for the Lenders, all in form and substance satisfactory to the Administrative Agent and the Lenders: Copies of the Certificate of Incorporation (or other comparable constituent document) of the Borrower and each Material Subsidiary as of the Closing Date (collectively, the "Initial Loan Parties"), not heretofore delivered to the Administrative Agent, dated as of the Closing Date, together with all amendments and a certificate of good standing (or comparable document), both certified by the appropriate governmental officer in its jurisdiction of incorporation; Copies, certified by the Secretary, Assistant Secretary or authorized representative of each of the Initial Loan Parties of their respective By-Laws (or other comparable governing document) and of their respective board of directors' or comparable resolutions (and resolutions of other governing bodies, if any are deemed necessary by counsel for any Lender) authorizing the execution of the Loan Documents entered into by it; An incumbency certificate, executed by the Secretary, Assistant Secretary or authorized representative of each of the Initial Loan Parties, which shall identify by name and title and bear the signature of the officers or authorized representatives of the applicable Initial Loan Party authorized to sign the Loan Documents (including, for the Borrower, the officers thereof authorized to make borrowings hereunder), upon which certificate the Lenders shall be entitled to rely until informed of any change in writing by the applicable Initial Loan Party or the Borrower on its behalf; A certificate, in form and substance satisfactory to the Administrative Agent, signed by an Authorized Officer of the Borrower, certifying that on the Closing Date all the representations in this Agreement are true and correct (unless such representation and warranty is made as of a specific date, in which case, such representation and warranty shall be true and correct as of such date), no Default or Unmatured Default has occurred and is continuing and no material adverse change in the business, condition (financial or otherwise), operations, properties or prospects of the Borrower and its Subsidiaries (taken as a whole), or since December 31, 2002; Written opinions of the Initial Loan Parties' counsel, addressed t...
Advances and Letters of Credit. (a) Each Bank severally agrees, on the terms and conditions set forth in this Agreement, to make Advances to the Company from time to time prior to the Termination Date, in amounts not to exceed in the aggregate at any one time outstanding the amount of its Commitment, which Advances shall be each Bank's Ratable Share of such amounts as the Company may request up to, but not exceeding, a total principal amount equal to the lesser of (i) the Total Commitments minus any Letter of Credit Exposure, or (ii) the Borrowing Base; provided, however, that no Bank shall be obligated to make any Advance pursuant to a particular Rate Option at any time when such Rate Option exceeds the Highest Lawful Rate. Subject to the terms of this Agreement, the Company may borrow, repay and reborrow at any time prior to the Termination Date. Such loans may be Floating Rate Advances, Fixed CD Rate Advances or Eurodollar Advances, or a combination thereof, determined in accordance with Section 2.7. Each Advance shall bear interest at one of the Rate Options selected in accordance with Section 2.7 or otherwise as provided in Section 2.7, and shall be paid in full by the Company on the Termination Date.
Advances and Letters of Credit a. Subject to the provisions of this Agreement, including without limitation the satisfaction of the conditions described in Article III, Lender agrees to establish a Revolving Loan Facility and make and incur Credit Accommodations in support of the manufacture, production, purchase and sale of items and in support of Export Orders as hereinafter provided, provided the aggregate Credit Accommodation Amount outstanding at any time shall not exceed the lesser at such time of (a) the Export-Related Borrowing Base and (b) the Maximum Amount. All Disbursements hereunder shall be made in Dollars. Borrower acknowledges that (i) subject to the limits set forth in Section 2.15 of the Borrower Agreement, Indirect Exports may be included as Items, and (ii) only upon satisfaction of certain requirements and conditions as set forth in Section 2.16 of the Borrower Agreement, Export-Related Overseas Accounts Receivable and Export-Related Overseas Inventory may be included in the Export-Related Borrowing Base.