Common use of Amounts and Terms of the Advances and the Letters of Credit Clause in Contracts

Amounts and Terms of the Advances and the Letters of Credit. SECTION 2.01. The Advances and the Letters of Credit. (a) The -------------------------------------- --- Revolving Credit Advances. Each Lender severally agrees, on the terms and ------------------------- conditions hereinafter set forth, to make Revolving Credit Advances to the Borrower from time to time on any Business Day during the period from the Effective Date until the Termination Date in an aggregate amount not to exceed at any time outstanding the amount set forth opposite such Lender's name on the signature pages hereof or, if such Lender has become a Lender hereunder pursuant to an Assumption Agreement, the amount set forth as the Commitment of such Lender in such Assumption Agreement or, if such Lender has entered into any Assignment and Acceptance, set forth for such Lender in the Register maintained by the Paying Agent pursuant to Section 8.06(d), as such amount may be reduced pursuant to Section 2.04 (such Lender's "Commitment"), provided that (i) the ---------- -------- Facility Usage shall not exceed the aggregate amount of the Commitments of the Lenders and (ii) the aggregate amount of the Commitments of the Lenders shall be deemed used from time to time to the extent of the aggregate amount of the Competitive Bid Advances then outstanding and such deemed use of the aggregate amount of the Commitments shall be allocated among the Lenders ratably according to their respective Commitments (such deemed use of the aggregate amount of the Commitments being a "Competitive Bid Reduction"). The aggregate amount of each ------------------------- Lender's Advances outstanding at any time shall be adjusted to the extent necessary to give effect to the provisions for the adjustment of Advances set forth in Section 2.18. Each Revolving Credit Borrowing shall be in an aggregate minimum amount of $10,000,000 or any whole multiple of $1,000,000 in excess thereof and shall consist of Revolving Credit Advances of the same Type made on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender's Commitment, the Borrower may borrow under this Section 2.01(a), prepay pursuant to Section 2.09 and reborrow under this Section 2.01(a).

Appears in 2 contracts

Samples: Year Credit Agreement (Kroger Co), Year Credit Agreement (Kroger Co)

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Amounts and Terms of the Advances and the Letters of Credit. SECTION 2.01. The Advances and the Letters of Credit. (a) The -------------------------------------- --- Revolving Credit Advances. Each Lender severally agrees, on the terms and ------------------------- conditions hereinafter set forth, to make Revolving Credit Advances advances (each a "REVOLVING CREDIT ADVANCE") to the Borrower from time to time on any Business Day during the period from the Effective Date date hereof until the Business Day proceeding the Termination Date in an aggregate amount for each such Advance not to exceed at any time outstanding the amount set forth opposite lesser of (a) such Lender's name on the signature pages hereof or, if Unused Revolving Commitment at such Lender has become a Lender hereunder pursuant to an Assumption Agreement, the amount set forth as the Commitment of such Lender in such Assumption Agreement or, if such Lender has entered into any Assignment time and Acceptance, set forth for such Lender in the Register maintained by the Paying Agent pursuant to Section 8.06(d), as such amount may be reduced pursuant to Section 2.04 (b) such Lender's "Commitment"), provided that (i) the ---------- -------- Facility Usage shall not exceed the aggregate amount Pro Rata Share of the Commitments of Sublimit Availability; provided, that the Lenders and (ii) the aggregate amount of the Commitments of the Lenders shall be deemed used from time to time to the extent sum of the aggregate amount of all outstanding Revolving Credit Advances plus Total L/C Exposure shall not exceed the Competitive Bid Advances then outstanding and Maximum Amount or the Borrowing Base at any time, provided, further, that upon giving effect to each such deemed use Advance, there shall be no breach of the aggregate amount requirements of the Commitments shall be allocated among the Lenders ratably according to their respective Commitments (such deemed use of the aggregate amount of the Commitments being a "Competitive Bid Reduction"Section 5.03(e). The aggregate amount of each ------------------------- Lender's Advances outstanding at any time shall be adjusted to the extent necessary to give effect to the provisions for the adjustment of Advances set forth in Section 2.18. Each Revolving Credit Borrowing shall be in an aggregate minimum amount of $10,000,000 1,000,000 or any whole an integral multiple of $1,000,000 100,000 in excess thereof (other than a Borrowing the proceeds of which shall be used solely to repay or prepay in full outstanding Letter of Credit Advances) and shall consist of Revolving Credit Advances of the same Type made on the same day simultaneously by the Lenders ratably according to their respective Revolving Commitments. Within the limits of each Lender's CommitmentUnused Revolving Commitment in effect from time to time, and subject to the limits set forth above, the Borrower may borrow under this Section 2.01(a), prepay pursuant to Section 2.09 2.06(a) and reborrow under this Section 2.01(a).

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Todco)

Amounts and Terms of the Advances and the Letters of Credit. SECTION 2.01. The Advances and the Letters of Credit. -------------------------------------- (a) The -------------------------------------- --- Revolving Credit Advances. Each Lender severally ----------------------------- agrees, on the terms and ------------------------- conditions hereinafter set forth, to make Revolving Credit Advances to the Borrower from time to time on any Business Day during the period from the Effective Date until the Termination Date in an aggregate amount not to exceed at any time outstanding the amount set forth opposite such Lender's name on the signature pages hereof or, if such Lender has become a Lender hereunder pursuant to an Assumption Agreement, the amount set forth as the Commitment of such Lender in such Assumption Agreement or, if such Lender has entered into any Assignment and Acceptance, set forth for such Lender in the Register maintained by the Paying Agent pursuant to Section 8.06(d), as such amount may be reduced pursuant to Section 2.04 (such Lender's "Commitment"), provided that (i) the ---------- -------- the Facility Usage shall not exceed the aggregate amount of the Commitments of the Lenders and (ii) the aggregate amount of the Commitments of the Lenders shall be deemed used from time to time to the extent of the aggregate amount of the Competitive Bid Advances then outstanding and such deemed use of the aggregate amount of the Commitments shall be allocated among the Lenders ratably according to their respective Commitments (such deemed use of the aggregate amount of the Commitments being a "Competitive Bid Reduction"). The ------------------------- aggregate amount of each ------------------------- Lender's Advances outstanding at any time shall be adjusted to the extent necessary to give effect to the provisions for the adjustment of Advances set forth in Section 2.18. Each Revolving Credit Borrowing shall be in an aggregate minimum amount of $10,000,000 10,000,000, in the case of Eurodollar Rate Advances, or any whole multiple $5,000,000, in the case of $1,000,000 in excess thereof Base Rate Advances and shall consist of Revolving Credit Advances of the same Type made on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender's Commitment, the Borrower may borrow under this Section 2.01(a), prepay pursuant to Section 2.09 and reborrow under this Section 2.01(a).

Appears in 1 contract

Samples: Year Credit Agreement (Kroger Co)

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Amounts and Terms of the Advances and the Letters of Credit. SECTION 2.01. The Advances and the Letters of Credit. (a) The -------------------------------------- --- Revolving Credit Working Capital Advances. Each Lender severally agrees, on the terms and ------------------------- conditions hereinafter set forth, to make Revolving Credit Advances advances (each a "WORKING CAPITAL ADVANCE") to the each Borrower from time to time on any Business Day during the period from the Effective Date date hereof until the Termination Date in an aggregate amount for each such Advance not to exceed at any time outstanding the amount set forth opposite lesser of (a) such Lender's name on the signature pages hereof or, if Unused Working Capital Commitment at such Lender has become a Lender hereunder pursuant to an Assumption Agreement, the amount set forth as the Commitment of such Lender in such Assumption Agreement or, if such Lender has entered into any Assignment time and Acceptance, set forth for such Lender in the Register maintained by the Paying Agent pursuant to Section 8.06(d), as such amount may be reduced pursuant to Section 2.04 (b) such Lender's "Commitment"), provided that (i) the ---------- -------- Facility Usage shall not exceed the aggregate amount Pro Rata Share of the Commitments Sublimit Availability under the Applicable Working Capital Sublimit of such Borrower; provided, that, the Lenders and (ii) the aggregate amount of the Commitments of the Lenders shall be deemed used from time to time to the extent sum of the aggregate amount of all outstanding Working Capital Advances plus Total L/C Exposure shall not exceed the Competitive Bid Advances then outstanding and such deemed use of the aggregate amount of the Commitments shall be allocated among the Lenders ratably according to their respective Commitments (such deemed use of the aggregate amount of the Commitments being a "Competitive Bid Reduction"). The aggregate amount of each ------------------------- Lender's Advances outstanding Maximum Amount at any time shall be adjusted to the extent necessary to give effect to the provisions for the adjustment of Advances set forth in Section 2.18time. Each Revolving Credit Borrowing shall be in an aggregate minimum amount of $10,000,000 1,000,000 or any whole an integral multiple thereof, in the case of a Borrowing consisting of Eurodollar Rate Advances, or $200,000 or an integral multiple of $1,000,000 100,000 in excess thereof thereof, in the case of Base Rate Advances (in each case, other than a Borrowing the proceeds of which shall be used solely to repay or prepay in full outstanding Letter of Credit Advances) and shall consist of Revolving Credit Working Capital Advances of the same Type made on the same day simultaneously by the Lenders ratably according to their respective Working Capital Commitments. Within the limits of each Lender's CommitmentUnused Working Capital Commitment in effect from time to time, and subject to the limits set forth above, each Borrower may borrow under this Section 2.01(a), prepay pursuant to Section 2.09 2.06(a) and reborrow under this Section 2.01(a).

Appears in 1 contract

Samples: Credit Agreement (McDermott International Inc)

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