Amount Limitations. Notwithstanding any other term of this Agreement or any other Loan Document, no Lender shall be required to make a Loan, no Issuing Bank shall be required to issue a Letter of Credit and no reduction of the Revolving Commitments pursuant to Section 2.13 shall take effect, if immediately after the making of such Loan, the issuance of such Letter of Credit or such reduction in the Revolving Commitments: (a) the aggregate principal amount of all outstanding Loans, together with aggregate amount of all Letter of Credit Liabilities, would exceed the Maximum Loan Availability at such time or (b) such L▇▇▇▇▇’s Revolving Commitment Percentage of the aggregate principal amount of all outstanding Loans, together with the aggregate amount of all Letter of Credit Liabilities, would exceed such L▇▇▇▇▇’s Revolving Commitment. Notwithstanding anything to the contrary contained herein, when determining whether the making of a Loan, the issuance of a Letter of Credit or a reduction in the Revolving Commitments would comply with the requirements of the immediately preceding clause (b) with respect to the Lender then acting as Swingline Lender and/or Issuing Bank, such L▇▇▇▇▇’s Revolving Commitment Percentage of the aggregate principal amount of all outstanding Swingline Loans made by such Lender and all Letter of Credit Liabilities under Letters of Credit issued by such Lender shall be deemed to be one hundred percent (100%) (i.e., the usage of such L▇▇▇▇▇’s Revolving Commitment shall not be reduced by reason of any unreimbursed participations in such Swingline Loans or Letters of Credit by any other Lender pursuant to the terms of this Agreement).
Appears in 2 contracts
Sources: Credit Agreement (Smith Douglas Homes Corp.), Credit Agreement (Smith Douglas Homes Corp.)
Amount Limitations. Notwithstanding any other term of this Agreement or any other Loan Document, no :
(a) No Lender shall be required to make a Loan, no Issuing Bank the Agent shall not be required to issue a Letter of Credit and no reduction of the Revolving Commitments pursuant to Section 2.13 2.12. shall take effect, if immediately after the making of such Loan, the issuance of such Letter of Credit or such reduction in the Revolving Commitments: (a) the aggregate principal amount of all outstanding Loans, together with aggregate amount of all Letter of Credit Liabilities, would exceed the Maximum Loan Availability at such time or (b) such L▇▇▇▇▇’s Revolving Commitment Percentage of the aggregate principal amount of all outstanding Loans, together with the aggregate amount of all Letter of Credit Liabilities, would exceed the lesser of (i) the aggregate amount of the Commitments at such L▇▇▇▇▇’s Revolving Commitmenttime and (ii) the Borrowing Base at such time.
(b) No Lender shall be required to make a Tranche A Loan, the Agent shall not be required to issue a Tranche A Letter of Credit and no reduction of the Tranche A Commitments pursuant to Section 2.12. Notwithstanding anything to the contrary contained hereinshall take effect, when determining whether if immediately after the making of a such Loan, the issuance of a such Letter of Credit or a reduction in the Revolving Commitments would comply with the requirements of the immediately preceding clause (b) with respect to the Lender then acting as Swingline Lender and/or Issuing Banksuch Commitment, such L▇▇▇▇▇’s Revolving Commitment Percentage of the aggregate principal amount of all outstanding Swingline Loans made by such Lender and Tranche A Loans, together with the aggregate principal amount of all Tranche A Letter of Credit Liabilities under Letters of Credit issued by such Liabilities, would exceed the aggregate Tranche A Commitments.
(c) No Lender shall be deemed required to be one hundred percent (100%) (i.e.make a Tranche B Loan, the usage of such L▇▇▇▇▇’s Revolving Commitment Agent shall not be reduced by reason of any unreimbursed participations in such Swingline Loans or Letters required to issue a Tranche B Letter of Credit by any other Lender and no reduction of the Tranche B Commitments pursuant to Section 2.12. shall take effect, if immediately after the terms making of this Agreement)such Loan, the issuance of such Letter of Credit or reduction of such Commitment, the aggregate principal amount of all outstanding Tranche B Loans, together with the aggregate principal amount of all Tranche B Letter of Credit Liabilities, would exceed the aggregate Tranche B Commitments.
Appears in 2 contracts
Sources: Credit Agreement (Morgans Hotel Group Co.), Credit Agreement (Morgans Hotel Group Co.)
Amount Limitations. Notwithstanding any other term of this Agreement or any other Loan Document, no Revolving Loan Lender shall be required to make a Revolving Loan or to purchase a participation in a Swingline Loan or Letter of Credit, the Issuing Lender shall not be required to issue a Letter of Credit and no reduction of the Revolving Loan Commitments pursuant to Section 2.12. shall take effect, if immediately after the making of such Revolving Loan or purchase of such participation, the issuance of such Letter of Credit or such reduction in the Revolving Loan Commitments, the aggregate amount of all outstanding Revolving Loans and Letter of Credit Liabilities would exceed the aggregate amount of Revolving Loan Commitments. Notwithstanding any other term of this Agreement or any other Loan Document, no Lender shall be required to make a Loan, no Loan and the Issuing Bank Lender shall not be required to issue a Letter of Credit and no reduction of the Revolving Loan Commitments pursuant to Section 2.13 2.12. shall take effect, if immediately after the making of such Loan, the issuance of such Letter of Credit or such reduction in the Revolving Loan Commitments: (a) , the aggregate principal amount of all outstanding Loans, together with aggregate amount of all Letter of Credit Liabilities, would exceed the Maximum Loan Availability at such time or (b) such L▇▇▇▇▇’s Revolving Commitment Percentage Unsecured Indebtedness of the aggregate principal amount of all Parent, the Borrower and their respective Subsidiaries (including, without limitation, outstanding Loans, Loans together with the aggregate amount of all Letter of Credit Liabilities, ) would exceed such L▇▇▇▇▇’s Revolving Commitment. Notwithstanding anything to the contrary contained herein, when determining whether the making cause a Default or Event of a Loan, the issuance of a Letter of Credit Default under Section 10.1.(g) or a reduction in the Revolving Commitments would comply with the requirements of the immediately preceding clause (b) with respect to the Lender then acting as Swingline Lender and/or Issuing Bank, such L▇▇▇▇▇’s Revolving Commitment Percentage of the aggregate principal amount of all outstanding Swingline Loans made by such Lender and all Letter of Credit Liabilities under Letters of Credit issued by such Lender shall be deemed to be one hundred percent (100%) (i.e., the usage of such L▇▇▇▇▇’s Revolving Commitment shall not be reduced by reason of any unreimbursed participations in such Swingline Loans or Letters of Credit by any other Lender pursuant to the terms of this Agreementh).
Appears in 2 contracts
Sources: Credit Agreement (Kite Realty Group, L.P.), Credit Agreement (Kite Realty Group Trust)
Amount Limitations. (a) Notwithstanding any other term of this Agreement or any other Loan Document, no Revolving Lender shall be required to make a Revolving Loan, no Issuing Bank shall be required to issue a Letter of Credit Credit, no Swingline Lender shall be required to make a Swingline Loan and no reduction of the Revolving Loan Commitments pursuant to Section 2.13 2.10 shall take effect, if immediately after the making of such Revolving Loan, the issuance of such Letter of Credit Credit, the making of such Swingline Loan or such reduction in the Revolving Commitments: (a) Loan Commitments the aggregate principal amount of all outstanding Loans, together with aggregate amount of all Letter of Credit Liabilities, would exceed the Maximum Loan Availability at such time or (b) such L▇▇▇▇▇’s Revolving Commitment Percentage of the aggregate principal amount of all outstanding Loans and Swingline Loans, together with the aggregate amount of the Stated Amounts of all Letter Letters of Credit Liabilitiesthen outstanding and all unreimbursed LC Disbursements then outstanding, would exceed such L▇▇▇▇▇’s Revolving Commitment. Notwithstanding anything to the contrary contained herein, when determining whether the making aggregate amount of a Loan, the issuance of a Letter of Credit or a reduction in the Revolving Loan Commitments would comply with the requirements of the immediately preceding clause at such time.
(b) with respect to the Lender then acting as Swingline Lender and/or Issuing BankNotwithstanding any other term of this Agreement or any other Loan Document, such L▇▇▇▇▇’s Revolving Commitment Percentage of the aggregate principal amount of all outstanding Swingline Loans made by such Lender and all Letter of Credit Liabilities under Letters of Credit issued by such no Term Loan Lender shall be deemed required to be one hundred percent (100%) (i.e., make a Term Loan if the usage amount of such L▇▇▇▇▇Term Loan would exceed such Lender’s Revolving Commitment shall not be reduced by reason of any unreimbursed participations in such Swingline Loans or Letters of Credit by any other Lender pursuant to the terms of this Agreement)Term Loan Commitment.
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Amount Limitations. (a) Notwithstanding any other term of this Agreement or any other Loan Document, no Lender shall be required to make a Revolving Loan, no the Swingline Lender shall not be required to make a Swingline Loan, the Issuing Bank Banks shall not be required to issue a Letter Letters of Credit and no reduction of the Revolving Commitments pursuant to Section Section 2.13 shall take effect, if immediately after the making of such Loan, the issuance of such Letter of Credit or such reduction in the such Revolving Commitments: (a) , the aggregate principal amount of all outstanding Loans, together with aggregate amount of all Letter of Credit Liabilities, would exceed the Maximum Loan Availability at such time or (b) such L▇▇▇▇▇’s Revolving Commitment Percentage of the aggregate principal amount of all outstanding Loans and Swingline Loans, together with the aggregate amount of all Letter of Credit Liabilities, would exceed such L▇▇▇▇▇’s Revolving Commitment. Notwithstanding anything to the contrary contained herein, when determining whether the making aggregate amount of a Loan, the issuance of a Letter of Credit or a reduction in the Revolving Commitments would comply with the requirements of the immediately preceding clause at such time.
(b) Notwithstanding any other term of this Agreement, until such time as the Borrower has delivered written notice (the “Cap Termination Notice”) to the Administrative Agent of its intent to terminate the limitations set forth in this Section 2.16(b) (which Borrower may deliver at any time in its sole discretion), the aggregate principal amount of Commitments available to be borrowed under this Agreement shall be limited to $249,000,000; provided that, for the avoidance of doubt, notwithstanding the limitation set forth in this Section 2.16(b) with respect to the Lender then acting as Swingline Lender and/or Issuing Bankamount of Commitments actually available to the Borrower to be drawn upon prior to the Administrative Agent’s receipt of the Cap Termination Notice, such L▇▇▇▇▇’s Revolving Commitment Percentage of limitation shall not impact or otherwise reduce any fees payable to the aggregate principal amount of all outstanding Swingline Loans made Lenders with respect to the Commitments provided by each such Lender and all Letter of Credit Liabilities under Letters of Credit issued by such Lender shall be deemed to be one hundred percent (100%) (i.e., on the usage of such L▇▇▇▇▇’s Revolving Commitment shall not be reduced by reason of any unreimbursed participations in such Swingline Loans or Letters of Credit by any other Lender pursuant to the terms of this Agreement)Effective Date.
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Amount Limitations. Notwithstanding any other term of this Agreement or any other Loan Document, no Revolving Lender shall be required to make a Revolving Loan or a Bid Rate Loan, no Issuing Bank shall be required to issue a Letter of Credit and no reduction of the Revolving Commitments pursuant to Section 2.13 shall take effect, if immediately after the making of such Revolving Loan or Bid Rate Loan, the issuance of such Letter of Credit or such reduction in the Revolving Commitments: :
(a) the aggregate principal amount of all outstanding Loans, together with aggregate amount of all Letter of Credit Liabilities, would exceed the Maximum Loan Availability at such time or (b) such L▇▇▇▇▇’s Revolving Commitment Percentage of the aggregate principal amount of all outstanding Loans and Bid Rate Loans, together with the aggregate amount of all Letter of Credit Liabilities, would exceed the aggregate amount of the Revolving Commitments at such time;
(b) the aggregate principal amount of all outstanding Revolving Loans made by such L▇▇▇▇▇, together with the Letter of Credit Exposure of such Lender, would exceed the Revolving Commitment of such Lender at such time; or
(c) the aggregate principal amount of all outstanding Bid Rate Loans would exceed fifty percent (50.0%) of the aggregate amount of the Revolving Commitments at such time. Additionally, no Term Loan Lender shall be required to make a Term Loan if the amount of such Term Loan would exceed such L▇▇▇▇▇’s Revolving Term Loan Commitment. Notwithstanding anything to the contrary contained herein, when determining whether the making of a Loan, the issuance of a Letter of Credit or a reduction in the Revolving Commitments would comply with the requirements of the immediately preceding clause (b) with respect to the Lender then acting as Swingline Lender and/or Issuing Bank, such L▇▇▇▇▇’s Revolving Commitment Percentage of the aggregate principal amount of all outstanding Swingline Loans made by such Lender and all Letter of Credit Liabilities under Letters of Credit issued by such Lender shall be deemed to be one hundred percent (100%) (i.e., the usage of such L▇▇▇▇▇’s Revolving Commitment shall not be reduced by reason of any unreimbursed participations in such Swingline Loans or Letters of Credit by any other Lender pursuant to the terms of this Agreement).
Appears in 1 contract
Amount Limitations. Notwithstanding any other term of this Agreement or any other Loan Document, no Revolving Lender shall be required to make a Revolving Loan or a Bid Rate Loan, no Issuing Bank shall be required to issue a Letter of Credit Credit, no Swingline Lender shall be required to make any Swingline Loan and no reduction of the Revolving Commitments pursuant to Section 2.13 shall take effect, if immediately after the making of such Revolving Loan, Bid Rate Loan or Swingline Loan, the issuance of such Letter of Credit or such reduction in the Revolving Commitments: :
(a) the aggregate principal amount of all outstanding Revolving Loans, together with aggregate amount of all Letter of Credit Liabilities, would exceed the Maximum Loan Availability at such time or (b) such L▇▇▇▇▇’s Revolving Commitment Percentage of the aggregate principal amount of all outstanding Bid Rate Loans and Swingline Loans, together with the aggregate amount of all Letter of Credit Liabilities, would exceed such L▇▇▇▇▇’s Revolving Commitment. Notwithstanding anything to the contrary contained herein, when determining whether the making aggregate amount of a Loan, the issuance of a Letter of Credit or a reduction in the Revolving Commitments would comply with the requirements of the immediately preceding clause at such time;
(b) with respect to the Lender then acting as Swingline Lender and/or Issuing Bank, such L▇▇▇▇▇’s Revolving Commitment Percentage of the aggregate principal amount of all outstanding Revolving Loans and Swingline Loans made by such Lender and all Lender, together with the Letter of Credit Liabilities under Letters Exposure of Credit issued by such Lender and such Lender’s participation in, and payment obligations in respect of, Swingline Loans, would exceed the Revolving Commitment of such Lender at such time; or
(c) the aggregate principal amount of all outstanding Bid Rate Loans would exceed fifty percent (50.0%) of the aggregate amount of the Revolving Commitments at such time. Additionally, no Term Loan Lender shall be deemed required to be one hundred percent (100%) (i.e., make a Term Loan if the usage amount of such L▇▇▇▇▇Term Loan would exceed such Lender’s Revolving Commitment shall not be reduced by reason of any unreimbursed participations in such Swingline Loans or Letters of Credit by any other Lender pursuant to the terms of this Agreement)Term Loan Commitment.
Appears in 1 contract
Amount Limitations. Notwithstanding any other term of this Agreement or any other Loan Document, no Lender The advances made by Lessor to purchase the Land (the "Acquisition Advances") and the Improvement/Expense Advances made by Lessor (the Acquisition Advances and the Improvement/Expense Advances to be referred to collectively as the "Advances") shall be required subject to make a Loan, no Issuing Bank shall the following limitations:
(i) Until Lessee delivers to Lessor the Plans and Specifications for all New Improvements to be required to issue a Letter of Credit and no reduction of constructed on the Revolving Commitments Property pursuant to Section 2.13 shall take effectSubparagraph 5.01(h) and a revised Expiration Date Appraisal for each Tract of Property (if required by Subparagraph 5.01(h)), if immediately after the making of such Loan, the issuance of such Letter of Credit or such reduction in the Revolving Commitments: (a) the aggregate principal amount of all outstanding Loans, together with aggregate amount of all Letter of Credit Liabilities, would exceed the Maximum Loan Availability at such time or (b) such L▇▇▇▇▇’s Revolving Commitment Percentage of the aggregate principal amount of all outstanding Loans, together with the aggregate amount of all Letter portions of Credit Liabilitiesall Advances made by Lessor which are allocated to any Line Item in the Budget, would exceed such L▇▇▇▇▇’s Revolving Commitment. Notwithstanding anything as set forth in the Schedule to the contrary contained hereinAcquisition Request or the Improvement/Expense Advance Request for such Advance pursuant to clause (v) of Subparagraph 2.03(a) or clause (i)(D) of Subparagraph 2.03(b), when determining whether as applicable, shall not exceed shall not exceed 110% of such Line Item of the making Budget:
(ii) Until Lessee delivers to Lessor the Plans and Specifications for all New Improvements to be constructed on the Property pursuant to Subparagraph 5.01(h) and a revised Expiration Date Appraisal for each Tract of a LoanProperty (if required by Subparagraph 5.01(h)), the issuance of a Letter of Credit or a reduction in the Revolving Commitments would comply with the requirements of the immediately preceding clause (b) with respect to the Lender then acting as Swingline Lender and/or Issuing Bank, such L▇▇▇▇▇’s Revolving Commitment Percentage of the aggregate principal amount of all outstanding Swingline Loans Advances made by Lessor shall not exceed the lesser of (A) aggregate amount of the Budget or (B) the Expiration Date Appraisal as delivered on the Closing Date;
(iii) After Lessee delivers to Lessor the Plans and Specifications for all New Improvements to be constructed on the Property pursuant to Subparagraph 5.01(h) and a revised Expiration Date Appraisal for each Tract of Property (if required by Subparagraph 5.01(h)), the aggregate amount of all Advances made by Lessor for such Lender Tract of Property (including the Acquisition Advance and all Letter Improvement/Expense Advances for such Tract of Credit Liabilities under Letters Property) shall not exceed the Expiration Date Appraisal for such Tract of Credit issued Property;
(iv) The aggregate amount of all Advances made during the period commencing on the date of this Agreement and ending on the date 364 days thereafter (the "364-Day Commitment Termination Date") shall not exceed Sixteen Million Dollars ($16,000,000) (the "364-Day Commitment"); and;
(v) The aggregate amount of all Advances made during the period commencing on the date of this Agreement and ending on the Commitment Termination Date (such period to be referred to as the "Commitment Period") shall not exceed Fifty-Five Million Dollars ($55,000,000) (the "Total Commitment"). Of the Total Commitment, Thirty-Nine Million Dollars ($39,000,000) (the "Thirty Month Commitment") is available at any time during the entire Commitment Period. Unless otherwise directed by such Lender Lessee, all Advances made by Lessor on or prior to the 364-Day Commitment Termination Date shall be deemed to be one hundred percent (100%) (i.e., the usage of such L▇▇▇▇▇’s Revolving Commitment shall not be reduced by reason of any unreimbursed participations in such Swingline Loans or Letters of Credit by any other Lender pursuant allocated first to the terms of this Agreement)364-Day Commitment and, after the 364-Day Commitment is reduced to zero, to the Thirty-Month Commitment. All Advances made by Lessor after the 364-Day Commitment Termination Date shall be allocated to the Thirty-Month Commitment, whether or not the 364-Day Commitment has been reduced to zero.
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Amount Limitations. Notwithstanding any other term of this Agreement or any other Loan Document, no Lender shall be required to make a Loan, no Revolving Lender shall make any Bid Rate Loan, the Issuing Bank Banks shall not be required to issue a Letter any Letters of Credit and no reduction of the Revolving Commitments pursuant to Section 2.13 2.13. shall take effect, if immediately after the making of such Loan, the issuance of such Letter of Credit or such reduction in the Revolving Commitments: :
(a) the aggregate principal amount of all outstanding Revolving Loans, together with aggregate amount of all Letter of Credit Liabilities, would exceed the Maximum Loan Availability at such time or (b) such L▇▇▇▇▇’s Revolving Commitment Percentage of the aggregate principal amount of all outstanding Bid Rate Loans and Swingline Loans, together with the aggregate amount of all Letter of Credit Liabilities, would exceed such L▇▇▇▇▇’s Revolving Commitment. Notwithstanding anything to the contrary contained herein, when determining whether the making aggregate amount of a Loan, the issuance of a Letter of Credit or a reduction in the Revolving Commitments would comply with the requirements of the immediately preceding clause at such time;
(b) with respect to the Lender then acting as Swingline Lender and/or Issuing Bank, such L▇▇▇▇▇’s Revolving Commitment Percentage of the aggregate principal amount of all outstanding Swingline Bid Rate Loans made by would exceed 50.0% of the aggregate amount of the Revolving Commitments at such Lender and all Letter time;
(c) the aggregate Stated Amount of Credit Liabilities under outstanding Letters of Credit issued by such Lender shall be deemed to be one hundred percent an Issuing Bank would exceed the lesser of (100%i) one-fifth of the L/C Commitment Amount and (i.e., ii) the usage Revolving Commitment of such L▇▇▇▇▇’s Issuing Bank in its capacity as a Revolving Lender; or
(d) the aggregate principal amount of Swingline Loans made by a Swingline Lender would exceed the lesser of (i) $25,000,000, as such amount may be reduced from time to time in accordance with the terms hereof and (ii) the Revolving Commitment shall not be reduced by reason of any unreimbursed participations in such Swingline Lender in its capacity as a Revolving Lender minus the aggregate outstanding principal amount of Revolving Loans or Letters of Credit by any other such Swingline Lender pursuant to the terms of this Agreement)in its capacity as a Revolving Lender.
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Amount Limitations. Notwithstanding any other term of this Agreement or any other Loan Document, no Revolving Lender shall be required to make a Revolving Loan or a Bid Rate Loan, no Issuing Bank shall be required to issue a Letter of Credit Credit, no Swingline Lender shall be required to make any Swingline Loan and no reduction of the Revolving Commitments pursuant to Section 2.13 shall take effect, if immediately after the making of such Revolving Loan, or Bid Rate Loan or Swingline Loan, the issuance of such Letter of Credit or such reduction in the Revolving Commitments: :
(a) the aggregate principal amount of all outstanding Revolving Loans, together with aggregate amount of all Letter of Credit Liabilities, would exceed the Maximum Loan Availability at such time or (b) such L▇▇▇▇▇’s Revolving Commitment Percentage of the aggregate principal amount of all outstanding and Bid Rate Loans and Swingline Loans, together with the aggregate amount of all Letter of Credit Liabilities, would exceed such L▇▇▇▇▇’s Revolving Commitment. Notwithstanding anything to the contrary contained herein, when determining whether the making aggregate amount of a Loan, the issuance of a Letter of Credit or a reduction in the Revolving Commitments would comply with the requirements of the immediately preceding clause at such time;
(b) with respect to the Lender then acting as Swingline Lender and/or Issuing Bank, such L▇▇▇▇▇’s Revolving Commitment Percentage of the aggregate principal amount of all outstanding Revolving Loans and Swingline Loans made by such Lender and all Lender, together with the Letter of Credit Liabilities under Letters Exposure of Credit issued by such Lender shall be deemed to be one hundred percent (100%) (i.e., the usage of and such L▇▇▇▇▇▇’s participation in, and payment obligations in respect of, Swingline Loans, would exceed the Revolving Commitment of such Lender at such time; or
(c) the aggregate principal amount of all outstanding Bid Rate Loans would exceed fifty percent (50.0%) of the aggregate amount of the Revolving Commitments at such time. Additionally, no Term Loan Lender shall not be reduced by reason required to make a Term Loan if the amount of any unreimbursed participations in such Swingline Loans or Letters of Credit by any other Lender pursuant to the terms of this Agreement)Term Loan would exceed such ▇▇▇▇▇▇’s Term Loan Commitment.
Appears in 1 contract
Sources: Amendment No. 1 to Amended and Restated Credit Agreement (American Homes 4 Rent, L.P.)
Amount Limitations. Notwithstanding any other term of this Agreement or any other Loan Document, no Revolving Lender shall be required to make a Revolving Loan or a Bid Rate Loan, no Issuing Bank shall be required to issue a Letter of Credit Credit, no Swingline Lender shall be required to make any Swingline Loan and no reduction of the Revolving Commitments pursuant to Section 2.13 shall take effect, if immediately after the making of such Revolving Loan, Bid Rate Loan or Swingline Loan, the issuance of such Letter of Credit or such reduction in the Revolving Commitments: :
(a) the aggregate principal amount of all outstanding Revolving Loans, together with aggregate amount of all Letter of Credit Liabilities, would exceed the Maximum Loan Availability at such time or (b) such L▇▇▇▇▇’s Revolving Commitment Percentage of the aggregate principal amount of all outstanding Bid Rate Loans and Swingline Loans, together with the aggregate amount of all Letter of Credit Liabilities, would exceed such L▇▇▇▇▇’s Revolving Commitment. Notwithstanding anything to the contrary contained herein, when determining whether the making aggregate amount of a Loan, the issuance of a Letter of Credit or a reduction in the Revolving Commitments would comply with the requirements of the immediately preceding clause at such time;
(b) with respect to the Lender then acting as Swingline Lender and/or Issuing Bank, such L▇▇▇▇▇’s Revolving Commitment Percentage of the aggregate principal amount of all outstanding Revolving Loans, Bid Rate Loans and Swingline Loans made by such Lender and all Lender, together with the Letter of Credit Liabilities under Letters Exposure of Credit issued by such Lender, would exceed the Revolving Commitment of such Lender at such time; or
(c) the aggregate principal amount of all outstanding Bid Rate Loans would exceed fifty percent (50.0%) of the aggregate amount of the Revolving Commitments at such time. Additionally, no Term Loan Lender shall be deemed required to be one hundred percent (100%) (i.e., make a Term Loan if the usage amount of such L▇▇▇▇▇Term Loan would exceed such Lender’s Revolving Commitment shall not be reduced by reason of any unreimbursed participations in such Swingline Loans or Letters of Credit by any other Lender pursuant to the terms of this Agreement)Term Loan Commitment.
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Amount Limitations. Notwithstanding any other term of this Agreement or any other Loan Document, no Lender shall be required to make a Loan, no Revolving Lender shall make any Bid Rate Loan, the Issuing Bank Banks shall not be required to issue a Letter any Letters of Credit and no reduction of the Revolving Commitments pursuant to Section 2.13 2.13. shall take effect, if immediately after the making of such Loan, the issuance of such Letter of Credit or such reduction in the Revolving Commitments: :
(a) the aggregate principal amount of all outstanding Revolving Loans, together with aggregate amount of all Letter of Credit Liabilities, would exceed the Maximum Loan Availability at such time or (b) such L▇▇▇▇▇’s Revolving Commitment Percentage of the aggregate principal amount of all outstanding Bid Rate Loans and Swingline Loans, together with the aggregate amount of all Letter of Credit Liabilities, would exceed such L▇▇▇▇▇’s Revolving Commitment. Notwithstanding anything to the contrary contained herein, when determining whether the making aggregate amount of a Loan, the issuance of a Letter of Credit or a reduction in the Revolving Commitments would comply with the requirements of the immediately preceding clause at such time;
(b) with respect to the Lender then acting as Swingline Lender and/or Issuing Bank, such L▇▇▇▇▇’s Revolving Commitment Percentage of the aggregate principal amount of all outstanding Swingline Bid Rate Loans made by would exceed 50.0% of the aggregate amount of the Revolving Commitments at such Lender and all Letter time;
(c) the aggregate Stated Amount of Credit Liabilities under outstanding Letters of Credit issued by such Lender shall be deemed to be one hundred percent an Issuing Bank would exceed the lesser of (100%i) one-fifth of the L/C Commitment Amount and (i.e., ii) the usage Commitment of such L▇▇▇▇▇’s Issuing Bank in its capacity as a Lender; or
(d) the aggregate principal amount of Swingline Loans made by a Swingline Lender would exceed the lesser of (i) $25,000,000, as such amount may be reduced from time to time in accordance with the terms hereof and (ii) the Revolving Commitment shall not be reduced by reason of any unreimbursed participations in such Swingline Lender in its capacity as a Revolving Lender minus the aggregate outstanding principal amount of Revolving Loans or Letters of Credit by any other such Swingline Lender pursuant to the terms of this Agreement)in its capacity as a Revolving Lender.
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Amount Limitations. Notwithstanding any other term of this Agreement or any other Loan Document, no Lender shall be required to make a Loan, no Issuing Bank shall be required to issue a Letter of Credit and no reduction of the Revolving Commitments pursuant to Section 2.13 shall take effect, if immediately after the making of such Loan, the issuance of such Letter of Credit or such reduction in the Revolving Commitments: (a) the aggregate principal amount of all outstanding Loans, together with aggregate amount of all Letter of Credit Liabilities, would exceed the Maximum Loan Availability at such time or (b) such L▇▇▇▇▇▇’s Revolving Commitment Percentage of the aggregate principal amount of all outstanding Loans, together with the aggregate amount of all Letter of Credit Liabilities, would exceed such L▇▇▇▇▇▇’s Revolving Commitment. Notwithstanding anything to the contrary contained herein, when determining whether the making of a Loan, the issuance of a Letter of Credit or a reduction in the Revolving Commitments would comply with the requirements of the immediately preceding clause (b) with respect to the Lender then acting as Swingline Lender and/or Issuing Bank, such L▇▇▇▇▇▇’s Revolving Commitment Percentage of the aggregate principal amount of all outstanding Swingline Loans made by such Lender and all Letter of Credit Liabilities under Letters of Credit issued by such Lender shall be deemed to be one hundred percent (100%) (i.e., the usage of such L▇▇▇▇▇▇’s Revolving Commitment shall not be reduced by reason of any unreimbursed participations in such Swingline Loans or Letters of Credit by any other Lender pursuant to the terms of this Agreement).
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