Common use of Amount and Terms of Revolving Commitments Clause in Contracts

Amount and Terms of Revolving Commitments. Revolving Commitments (1) Subject to the terms and conditions hereof, each Revolving Lender severally agrees to make revolving credit loans (“Revolving Loans”) denominated in Dollars or any other Approved Currency to the Borrower from time to time during the Revolving Commitment Period in an aggregate principal amount at any one time outstanding which, when added to such Lender’s Revolving Extensions of Credit then outstanding, does not exceed the amount of such Lender’s Revolving Commitment. Revolving Loans that are repaid may be reborrowed during the Revolving Commitment Period, subject to the terms and conditions hereof. The Revolving Loans may from time to time be Eurocurrency Loans or, in the case of Loans denominated in Dollars, Base Rate Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 3.2 and 4.3. (2) The Borrower shall repay all outstanding Revolving Loans on the Revolving Termination Date.

Appears in 1 contract

Sources: Credit Agreement (Advanced Drainage Systems, Inc.)

Amount and Terms of Revolving Commitments. Revolving Commitments (1a) Subject to the terms and conditions hereof, each Revolving Lender severally agrees to make revolving credit loans (“Revolving Loans”) denominated in Dollars or any other Approved Currency to the Borrower from time to time during the Revolving Commitment Period in an aggregate principal amount at any one time outstanding which, when added to such Lender’s Revolving Extensions of Credit then outstanding, does not exceed the amount of such Lender’s Revolving Commitment. Revolving Loans that are repaid may be reborrowed during the Revolving Commitment Period, subject to the terms and conditions hereof. The Revolving Loans may from time to time be Eurocurrency Loans or, in the case of Loans denominated in Dollars, Base Rate Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 3.2 and 4.3. (2b) The Borrower shall repay all outstanding Revolving Loans on the Revolving Termination Date.

Appears in 1 contract

Sources: Credit Agreement (Advanced Drainage Systems, Inc.)