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

Amounts and Terms of the Advances. A. SECTION The A Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make A Advances to the Borrower from time to time on any Business Day during the period from the date hereof until the Termination Date in an aggregate amount not to exceed at any time outstanding the amount set opposite such Lender's name on the signature pages hereof or, if such Lender has entered into any Assignment and Acceptance, set forth for such Lender in the Register maintained by the Agent pursuant to Section 8.07(c), as such amount may be reduced pursuant to Section 2.05 (such Lender's "Commitment"), provided that 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 B Advances then outstanding and such deemed use of the aggregate amount of the Commitments shall be applied to the Lenders ratably according to their respective Commitments (such deemed use of the aggregate amount of the Commitments being a "B Reduction"). Each A Borrowing shall consist of A Advances of the same Type made on the same day by the Lenders ratably according to their respective Commitments. Each A Borrowing consisting of Eurodollar Rate Advances shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof. Each A Borrowing consisting of Base Rate Advances shall be in an aggregate amount not less than $500,000 or an integral multiple of $500,000 in excess thereof. Within the limits of each Lender's Commitment, the Borrower may from time to time borrow, prepay pursuant to Section 2.11(b) and reborrow under this Section 2.01.

Appears in 3 contracts

Samples: Revolving Credit Agreement (Wicor Inc), Revolving Credit Agreement (Wicor Inc), Revolving Credit Agreement (Wicor Inc)

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Amounts and Terms of the Advances. A. SECTION The 2.01. (a) Revolving A Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make A Advances to the Borrower from time to time on any Business Day during the period from the date hereof until Effective Date to and including 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 Schedule III hereto, or, if such Lender has entered into any Assignment and AcceptanceAcceptance or Commitment Increase Agreement or a New Lender Agreement, set forth for such Lender in the Register maintained by the Administrative Agent pursuant to Section 8.07(c), as such amount may be reduced pursuant to Section 2.05 2.04 (such Lender's "CommitmentCOMMITMENT"), provided that 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 B Advances then outstanding and such deemed use of the aggregate amount of the such Commitments shall be applied to all the Lenders ratably according to their respective Commitments (such deemed use of the aggregate amount of the Commitments being a "B ReductionREDUCTION"). Each A Borrowing consisting of Revolving A Advances shall be in an aggregate amount of $10,000,000 in the case of an A Borrowing comprised of Base Rate Advances and $25,000,000 in the case of an A Borrowing comprised of Eurodollar Rate Advances, or, in either case an integral multiple of $1,000,000 in excess thereof (or, in the case of an A Borrowing of Base Rate Advances, the aggregate unused Commitments, if less) and shall consist of A Advances of the same Type made on the same day by the Lenders ratably according to their respective Commitments. Each A Borrowing consisting of Eurodollar Rate Advances shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof. Each A Borrowing consisting of Base Rate Advances shall be in an aggregate amount not less than $500,000 or an integral multiple of $500,000 in excess thereof. Within the limits of each Lender's Commitment, the Borrower may from time to time make more than one Borrowing on any Business Day and may borrow, prepay pursuant to Section 2.11(b) 2.10, and reborrow under this Section 2.012.01(a).

Appears in 3 contracts

Samples: Credit Agreement (Burlington Resources Inc), Credit Agreement (Burlington Resources Inc), Credit Agreement (Burlington Resources Inc)

Amounts and Terms of the Advances. A. SECTION 2.01. The A Revolving Credit Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make A Revolving Credit Advances to the any Borrower from time to time on any Business Day during the period from the date hereof Effective Date until the Termination Date in an aggregate amount for all Borrowers not to exceed at any time outstanding (a) the amount set forth opposite such Lender's name on the signature pages hereof oror (b) if such Lender has become a Lender hereunder pursuant to an Assumption Agreement or has increased its Commitment pursuant to Section 2.05(c), or if such Lender has entered into any Assignment and Acceptance, the amount set forth for such Lender in the Register maintained by the Agent pursuant to Section 8.07(c9.07(d), in each case as such amount may be reduced pursuant to Section 2.05 2.05(a) or (b) (such Lender's "Commitment"), provided that 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 B Competitive Bid Advances then outstanding and such deemed use of the aggregate amount of the Commitments shall be applied to allocated among the Lenders ratably according to their respective Commitments (such deemed use of the aggregate amount of the Commitments being a "B Competitive Bid Reduction"). Each A Revolving Credit Borrowing shall be in an aggregate amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereof (or, if less, an aggregate amount equal to the amount by which the aggregate amount of a proposed Competitive Bid Borrowing requested by any Borrower exceeds the aggregate amount of Competitive Bid Advances offered to be made by the Lenders and accepted by such Borrower in respect of such Competitive Bid Borrowing, if such Competitive Bid Borrowing is made on the same date and by the same Borrower as such Revolving Credit Borrowing) and shall consist of A Revolving Credit Advances of the same Type made on the same day by the Lenders ratably according to their respective Commitments. Each A Borrowing consisting of Eurodollar Rate Advances shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof. Each A Borrowing consisting of Base Rate Advances shall be in an aggregate amount not less than $500,000 or an integral multiple of $500,000 in excess thereof. Within the limits of each Lender's Commitment, the any Borrower may from time to time borrowborrow under this Section 2.01, prepay pursuant to Section 2.11(b) 2.10 and reborrow under this Section 2.01.

Appears in 3 contracts

Samples: Day Credit Agreement (Hershey Foods Corp), Day Credit Agreement (Hershey Foods Corp), Credit Agreement (Hershey Foods Corp)

Amounts and Terms of the Advances. A. SECTION 2.01. The A Revolving Credit Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make A Revolving Credit Advances to the any Borrower from time to time on any Business Day during the period from the date hereof Effective Date until the Termination Date in an aggregate amount (based in respect of any Revolving Credit Advances to be denominated in a Committed Currency on the Equivalent in Dollars determined on the date of delivery of the applicable Notice of Revolving Credit Borrowing) not to exceed at any time outstanding the amount set opposite such Lender's name on the signature pages hereof or, if such Lender has entered into any Assignment and Acceptance, set forth for such Lender in the Register maintained by the Agent pursuant to Section 8.07(c), as such amount may be reduced pursuant to Section 2.05 (such Lender's "Commitment"), ; provided that the aggregate amount of the Commitments of the Lenders shall be deemed used from time to time to the extent of the aggregate amount Dollar Amount of the B Competitive Bid Advances then outstanding and such deemed use of the aggregate amount of the Commitments shall be applied to allocated among the Lenders ratably according to their respective Commitments (such deemed use of the aggregate amount of the Commitments being a "B Competitive Bid Reduction"). Each A Revolving Credit Borrowing shall be in an aggregate amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof (or the Equivalent thereof in any Committed Currency determined on the date of delivery of the applicable Notice of Revolving Credit Borrowing) and shall consist of A Revolving Credit Advances of the same Type made on the same day by the Lenders ratably according to their respective Commitments. Each A Borrowing consisting of Eurodollar Rate Advances shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof. Each A Borrowing consisting of Base Rate Advances shall be in an aggregate amount not less than $500,000 or an integral multiple of $500,000 in excess thereof. Within the limits of each Lender's Commitment, the Borrower Borrowers may from time to time borrowborrow under this Section 2.01, prepay pursuant to Section 2.11(b) 2.10 and reborrow under this Section 2.01.

Appears in 2 contracts

Samples: Year Credit Agreement (Polyone Corp), Year Credit Agreement (Polyone Corp)

Amounts and Terms of the Advances. A. SECTION 2.01. The A Advances. Each Lender severally agrees, on Upon the terms and subject to the conditions hereinafter set forthforth in this Agreement, each Lender agrees severally, but not jointly, to make A Advances to the Borrower from time to time on any Business Day during the period from the date hereof Closing Date until the Termination Date in an aggregate amount not to exceed at any time outstanding the amount set opposite such Lender's name on the signature pages hereof or, if applicable, the signature pages of any relevant amendment hereto or, if such Lender has entered into any Assignment and Acceptance, set forth for such Lender in the Register maintained by the Agent pursuant to Section 8.07(c)Agent, as such amount may be reduced pursuant to Section 2.05 2.11 (such Lender's "Commitment"), provided that the aggregate amount of the Commitments of the Lenders shall be deemed used and reduced from time to time to the extent of the aggregate amount of the B Advances then outstanding and such deemed use and reduction of the aggregate amount of the Commitments shall be applied to the Lenders ratably according to their respective Commitments (such deemed use and reduction of the aggregate amount of the Commitments being a "B Reduction"). Each A Borrowing shall be in an aggregate amount not less than Twenty Million Dollars ($20,000,000) and an integral multiple of One Million Dollars ($1,000,000) if in excess thereof and shall consist of A Advances of the same Type made on the same day by the Lenders ratably according to their respective Commitments. Each A Borrowing consisting of Eurodollar Rate Advances shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof. Each A Borrowing consisting of Base Rate Advances shall be in an aggregate amount not less than $500,000 or an integral multiple of $500,000 in excess thereof. Within the limits of each Lender's Commitment, the Borrower may from time to time borrow, prepay pursuant to Section 2.11(b2.06(a) and reborrow under this Section 2.01.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Carnival Corp), Revolving Credit Agreement (Carnival Corp)

Amounts and Terms of the Advances. A. SECTION 2.1. The A Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make A Advances to the Borrower from time to time on any Business Day during the period from the date hereof until to and including the Termination Date in an aggregate amount not to exceed at any time outstanding the amount set forth opposite such Lender's name Lendxx'x xame on the signature pages hereof under the caption "COMMITMENTS", or, if such Lender has entered into any Assignment and AcceptanceAcceptance or Commitment Increase Agreement or a New Lender Agreement, set forth for such Lender in the Register maintained by the Administrative Agent pursuant to Section 8.07(c), as such amount may be reduced pursuant to Section 2.05 2.04 (such Lender's "CommitmentCOMMITMENT"), provided that 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 B Advances then outstanding and such deemed use of the aggregate amount of the such Commitments shall be applied to all the Lenders ratably according to their respective Commitments (such deemed use of the aggregate amount of the Commitments being a "B ReductionREDUCTION"). Each A Borrowing shall be in an aggregate amount of $10,000,000 in the case of an A Borrowing comprised of Base Rate Advances and $25,000,000 in the case of an A Borrowing comprised of Eurodollar Rate Advances, or, in either case an integral multiple of $1,000,000 in excess thereof (or, in the case of an A Borrowing of Base Rate Advances, the aggregate unused Commitments, if less) and shall consist of A Advances of the same Type made on the same day by the Lenders ratably according to their respective Commitments. Each A Borrowing consisting of Eurodollar Rate Advances shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof. Each A Borrowing consisting of Base Rate Advances shall be in an aggregate amount not less than $500,000 or an integral multiple of $500,000 in excess thereof. Within the limits of each Lender's Commitment, the Borrower may from time to time make more than one Borrowing on any Business Day and may borrow, prepay pursuant to Section 2.11(b) 2.10, and reborrow under this Section 2.01.

Appears in 1 contract

Samples: Credit Agreement (Burlington Resources Inc)

Amounts and Terms of the Advances. A. SECTION 2.01. The A Revolving Credit Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make A Revolving Credit Advances to the Borrower from time to time on any Business Day during the period from the date hereof 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 entered into any Assignment and Acceptance, set forth for such Lender in the Register maintained by the Administrative Agent pursuant to Section 8.07(c8.07(g), as such amount may be reduced pursuant to Section 2.05 (such Lender's "Commitment"), provided that 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 B Competitive Bid Advances then outstanding and such deemed use of the aggregate amount of the Commitments shall be applied to allocated among the Lenders ratably according to their respective Commitments (such deemed use of the aggregate amount of the Commitments being a "B Competitive Bid Reduction"). Each A Revolving Credit Borrowing shall be in an aggregate amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereof (or, if less, an aggregate amount equal to the amount by which the aggregate amount of a proposed Competitive Bid Borrowing requested by the Borrower exceeds the aggregate amount of Competitive Bid Advances offered to be made by the Lenders and accepted by the Borrower in respect of such Competitive Bid Borrowing, if such Competitive Bid Borrowing is made on the same date as such Revolving Credit Borrowing) and shall consist of A Revolving Credit Advances of the same Type made on the same day by the Lenders ratably according to their respective Commitments. Each A Borrowing consisting of Eurodollar Rate Advances shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof. Each A Borrowing consisting of Base Rate Advances shall be in an aggregate amount not less than $500,000 or an integral multiple of $500,000 in excess thereof. Within the limits of each Lender's Commitment, the Borrower may from time to time borrowborrow under this Section 2.01, prepay pursuant to Section 2.11(b) 2.10 and reborrow under this Section 2.01.

Appears in 1 contract

Samples: Credit Agreement (New England Electric System)

Amounts and Terms of the Advances. A. SECTION The 2.1. (a Revolving A Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make A Advances to the Borrower from time to time on any Business Day during the period from the date hereof until Effective Date to and including the Termination Date in an aggregate amount not to exceed at any time outstanding the amount set forth opposite such Lender's name Lendxx'x xame on the signature pages hereof under the caption "COMMITMENTS", or, if such Lender has entered into any Assignment and AcceptanceAcceptance or Commitment Increase Agreement or a New Lender Agreement, set forth for such Lender in the Register maintained by the Administrative Agent pursuant to Section 8.07(c), as such amount may be reduced pursuant to Section 2.05 2.04 (such Lender's "CommitmentCOMMITMENT"), provided that 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 B Advances then outstanding and such deemed use of the aggregate amount of the such Commitments shall be applied to all the Lenders ratably according to their respective Commitments (such deemed use of the aggregate amount of the Commitments being a "B ReductionREDUCTION"). Each A Borrowing consisting of Revolving A Advances shall be in an aggregate amount of $10,000,000 in the case of an A Borrowing comprised of Base Rate Advances and $25,000,000 in the case of an A Borrowing comprised of Eurodollar Rate Advances, or, in either case an integral multiple of $1,000,000 in excess thereof (or, in the case of an A Borrowing of Base Rate Advances, the aggregate unused Commitments, if less) and shall consist of A Advances of the same Type made on the same day by the Lenders ratably according to their respective Commitments. Each A Borrowing consisting of Eurodollar Rate Advances shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof. Each A Borrowing consisting of Base Rate Advances shall be in an aggregate amount not less than $500,000 or an integral multiple of $500,000 in excess thereof. Within the limits of each Lender's Commitment, the Borrower may from time to time make more than one Borrowing on any Business Day and may borrow, prepay pursuant to Section 2.11(b) 2.10, and reborrow under this Section 2.012.01(a).

Appears in 1 contract

Samples: Credit Agreement (Burlington Resources Inc)

Amounts and Terms of the Advances. A. SECTION The A Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make A Revolving Credit Advances to the Borrower from time to time on any Business Day during the period from the date hereof 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 entered into any Assignment and Acceptance, set forth for such Lender in the Register maintained by the Administrative Agent pursuant to Section 8.07(c), as such amount may be reduced pursuant to Section 2.05 (such Lender's "Commitment"), provided that 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 B Competitive Bid Advances then outstanding and such deemed use of the aggregate amount of the Commitments shall be applied to allocated among the Lenders ratably according to their respective Commitments (such deemed use of the aggregate amount of the Commitments being a "B Competitive Bid Reduction"). Each A Revolving Credit Borrowing shall be in an aggregate amount of $25,000,000 or an integral multiple of $1,000,000 in excess thereof (or, if less, an amount equal to the remaining aggregate amount of unused Commitments or equal to the amount by which the aggregate amount of a proposed Competitive Bid Borrowing requested by the Borrower exceeds the aggregate amount of Competitive Bid Advances offered to be made by the Lenders and accepted by the Borrower in respect of such Competitive Bid Borrowing, if such Competitive Bid Borrowing is made on the same date as such Revolving Credit Borrowing) and shall consist of A Revolving Credit Advances of the same Type made on the same day by the Lenders ratably according to their respective Commitments. Each A Borrowing consisting of Eurodollar Rate Advances shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof. Each A Borrowing consisting of Base Rate Advances shall be in an aggregate amount not less than $500,000 or an integral multiple of $500,000 in excess thereof. Within the limits of each Lender's Commitment, the Borrower may from time to time borrowborrow under this Section 2.01, prepay pursuant to Section 2.11(b) and 2.10 and, unless the Borrower has delivered a request pursuant to the provisions of Section 2.16(b), reborrow under this Section 2.01.

Appears in 1 contract

Samples: Credit Agreement (United Parcel Service of America Inc)

Amounts and Terms of the Advances. A. SECTION 2.01. The A Advances. Each Lender severally agrees, on Upon the terms and subject to the conditions hereinafter set forthforth in this Agreement, each Lender agrees severally, but not jointly, to make A Advances to the Borrower from time to time on any Business Day during the period from the date hereof Closing Date until the Termination Date in an aggregate amount not to exceed at any time outstanding the amount set opposite such Lender's name on the signature pages hereof or, if applicable, the signature pages of any relevant amendment hereto or, if such Lender has entered into any Assignment and Acceptance, set forth for such Lender in the Register maintained by the Agent pursuant to Section 8.07(c)Agent, as such amount may be reduced or increased pursuant to Section 2.05 Sections 2.11 or 2.12, respectively (such Lender's "Commitment"), provided that the aggregate amount of the Commitments of the Lenders shall be deemed used and reduced from time to time to the extent of the aggregate amount of the B Advances then outstanding and such deemed use and reduction of the aggregate amount of the Commitments shall be applied to the Lenders ratably according to their respective Commitments (such deemed use and reduction of the aggregate amount of the Commitments being a "B Reduction"). Each A Borrowing shall be in an aggregate amount not less than Ten Million Dollars ($10,000,000) and an integral multiple of One Million Dollars ($1,000,000) if in excess thereof and shall consist of A Advances of the same Type made on the same day by the Lenders ratably according to their respective Commitments. Each A Borrowing consisting of Eurodollar Rate Advances shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof. Each A Borrowing consisting of Base Rate Advances shall be in an aggregate amount not less than $500,000 or an integral multiple of $500,000 in excess thereof. Within the limits of each Lender's Commitment, the Borrower may from time to time borrow, prepay pursuant to Section 2.11(b2.06(a) and reborrow under this Section 2.01.

Appears in 1 contract

Samples: Revolving Credit Agreement (Carnival Corp)

Amounts and Terms of the Advances. A. SECTION 2.01. The A Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make A Advances to the Borrower from time to time on any Business Day during the period from the date hereof 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 entered into any Assignment and Acceptance, set forth for such Lender in the Register maintained by the Agent pursuant to Section 8.07(c8.07(e), as such amount may be reduced pursuant to Section 2.05 (such Lender's "Commitment"), provided that 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 B Advances then outstanding and such deemed use of the aggregate amount of the Commitments shall be applied to the Lenders ratably according to their respective Commitments (such deemed use of the aggregate amount of the Commitments being a "B Reduction"). Each A Borrowing shall be in an aggregate amount not less than $20,000,000 or an integral multiple of $1,000,000 in excess thereof (or, if less, an aggregate amount equal to the difference between the aggregate amount of a proposed B Borrowing requested by the Borrower and the aggregate amount of B Advances offered to be made by the Lenders and accepted by the Borrower in respect of such B Borrowing, if such B Borrowing is made on the same date as such A Borrowing) and shall consist of A Advances of the same Type made on the same day by the Lenders ratably according to their respective Commitments. Each A Borrowing consisting of Eurodollar Rate Advances shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof. Each A Borrowing consisting of Base Rate Advances shall be in an aggregate amount not less than $500,000 or an integral multiple of $500,000 in excess thereof. Within the limits of each Lender's Commitment, the Borrower may from time to time borrowborrow under this Section 2.01, prepay pursuant to Section 2.11(b) and reborrow under this Section 2.01.

Appears in 1 contract

Samples: Credit Agreement (Supervalu Inc)

Amounts and Terms of the Advances. A. SECTION 2.01. The A Revolving Credit Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make A Revolving Credit Advances to the Borrower in Dollars or, if each Lender agrees, in its sole discretion to make Gold Advances, in Gold, at the option of the Borrower, from time to time on any Business Day during the period from the date hereof Effective Date until the Termination Date in an aggregate amount Aggregate Original 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 entered into any Assignment and Acceptance, set forth for such Lender in the Register maintained by the Agent pursuant to Section 8.07(c8.07(g), as such amount may be reduced pursuant to Section 2.05 (such Lender's "Commitment"), provided that 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 B Competitive Bid Advances then outstanding and such deemed use of the aggregate amount of the Commitments shall be applied to allocated among the Lenders ratably according to their respective Commitments (such deemed use of the aggregate amount of the Commitments being a "B Competitive Bid Reduction"). Each A Revolving Credit Borrowing shall be in an Aggregate Original Amount of $5,000,000 or, in the case of a Dollar Borrowing, an integral multiple of $1,000,000 in excess thereof (or, if less, an aggregate amount equal to the amount by which the aggregate amount of a proposed Competitive Bid Borrowing requested by the Borrower exceeds the aggregate amount of Competitive Bid Advances offered to be made by the Lenders and accepted by the Borrower in respect of such Competitive Bid Borrowing, if such Competitive Bid Borrowing is made on the same date as such Revolving Credit Borrowing) and shall consist of A Revolving Credit 27 24 Advances of the same Type made on the same day by the Lenders ratably according to their respective Commitments. Each A Borrowing consisting of Eurodollar Rate Advances shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof. Each A Borrowing consisting of Base Rate Advances shall be in an aggregate amount not less than $500,000 or an integral multiple of $500,000 in excess thereof. Within the limits of each Lender's Commitment, the Borrower may from time to time borrowborrow under this Section 2.01, prepay pursuant to Section 2.11(b) 2.10 and reborrow under this Section 2.01; provided, however, that no Revolving Credit Advances shall be made hereunder if after giving effect thereto the Aggregate Current Amount of all Advances outstanding (including Competitive Bid Advances) would exceed the aggregate amount of the Commitments.

Appears in 1 contract

Samples: Credit Agreement (Battle Mountain Gold Co)

Amounts and Terms of the Advances. A. SECTION 2.01. The A Revolving Credit Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make A Revolving Credit Advances to the Borrower Company and any Borrowing Subsidiary from time to time on any Business Day during the period from the date hereof 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 entered into any Assignment and Acceptance, set forth for such Lender in the Register maintained by the Agent pursuant to Section 8.07(c8.07(d), as such amount may be reduced pursuant to Section 2.05 2.05(a) or increased pursuant to Section 2.05(c) (such Lender's "Commitment"), provided that 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 B Competitive Bid Advances then outstanding and such deemed use of the aggregate amount of the Commitments shall be applied to allocated among the Lenders ratably according to their respective Commitments (such deemed use of the aggregate amount of the Commitments being a "B Competitive Bid Reduction"). Each A Revolving Credit Borrowing shall be in an aggregate amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereof (or, if less, (i) an aggregate amount equal to the amount by which the aggregate amount of a proposed Competitive Bid Borrowing requested by the Company exceeds the aggregate amount of Competitive Bid Advances offered to be made by the Lenders and accepted by the Company in respect of such Competitive Bid Borrowing, if such Competitive Bid Borrowing is made on the same date as such Revolving Credit Borrowing or (ii) the aggregate amount of the unused Commitments, after giving effect to any Competitive Bid Reductions then in effect) and shall consist of A Revolving Credit Advances of the same Type made on the same day by the Lenders ratably according to their respective Commitments. Each A Borrowing consisting of Eurodollar Rate Advances shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof. Each A Borrowing consisting of Base Rate Advances shall be in an aggregate amount not less than $500,000 or an integral multiple of $500,000 in excess thereof. Within the limits of each Lender's Commitment, the each Borrower may from time to time borrowborrow under this Section 2.01, prepay pursuant to Section 2.11(b2.10 and (other than in the case of a Termed Out Loan) and reborrow under this Section 2.01.. 364-Day Credit Agreement

Appears in 1 contract

Samples: Credit Agreement (Bottling Group LLC)

Amounts and Terms of the Advances. A. SECTION 2.01. The A Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make A Advances to the Borrower from time to time on any Business Day during the period from the date hereof until the Termination Date in an amounts such that the sum of (x) the aggregate principal amount not to exceed of A Advances by such Lender plus (y) such Lender's Percentage of the aggregate principal amount of Swingline Loans plus (z) such Lender's LC Exposure at any one time outstanding shall not exceed the amount set forth opposite such Lender's name on the signature pages hereof Schedule I hereto or, if such Lender has entered into any Assignment and AcceptanceAssumption Agreement, the amount set forth for such Lender in the Register maintained such Assignment and Assumption Agreement or, if such Lender has entered into an agreement required by the Agent pursuant to Section 8.07(c2.07(b), the amount set forth for such Lender in such agreement (as each such amount may be reduced pursuant to Section 2.05 2.07) (such amount, such Lender's "Commitment"), ; provided that 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 B Advances then outstanding and such deemed use of the aggregate amount of the Commitments shall be applied to the Lenders ratably according to their respective Commitments (such deemed use of the aggregate amount of the Commitments being a "B Reduction"); and provided further that in no event shall the Swingline Lender be obligated to make any loan hereunder if, after making such loan and giving effect to the application of any funds made available at such time to prepay or repay any outstanding Swingline Loan, the sum of (A) the aggregate principal amount of A Advances, Swingline Loans and LC Exposure at such time outstanding exceeds an amount equal to (I) the aggregate Commitment less (II) the aggregate B Reduction . Each A Borrowing shall be in an aggregate amount not less than $20,000,000 or an integral multiple of $1,000,000 in excess thereof (or, if less, an aggregate amount equal to the difference between the aggregate amount of a proposed B Borrowing requested by the Borrower and the aggregate amount of B Advances offered to be made by the Lenders and accepted by the Borrower in respect of such B Borrowing, if such B Borrowing is made on the same date as such A Borrowing) and shall consist of A Advances of the same Type made on the same day by the Lenders ratably according to their respective Commitments. Each A Borrowing consisting of Eurodollar Rate Advances shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof. Each A Borrowing consisting of Base Rate Advances shall be in an aggregate amount not less than $500,000 or an integral multiple of $500,000 in excess thereof. Within the limits of each Lender's Commitment, the Borrower may from time to time borrowborrow under this Section 2.01, prepay pursuant to Section 2.11(b2.13(b) and reborrow under this Section 2.01.

Appears in 1 contract

Samples: Credit Agreement (Supervalu Inc)

Amounts and Terms of the Advances. A. SECTION 2.01. The A Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make A Advances to the Borrower from time to time on any Business Day during the period from the date hereof until Original Effective Date to and including 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 Schedule III hereto, or, if such Lender has entered into any Assignment and AcceptanceAcceptance or Commitment Increase Agreement or a New Lender Agreement, set forth for such Lender in the Register maintained by the Administrative Agent pursuant to Section 8.07(c), as such amount may be reduced pursuant to Section 2.05 2.04 (such Lender's "CommitmentCOMMITMENT"), provided that 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 B Advances then outstanding and such deemed use of the aggregate amount of the such Commitments shall be applied to all the Lenders ratably according to their respective Commitments (such deemed use of the aggregate amount of the Commitments being a "B ReductionREDUCTION"). Each A Borrowing shall be in an aggregate amount of $10,000,000 in the case of an A Borrowing comprised of Base Rate Advances and $25,000,000 in the case of an A Borrowing comprised of Eurodollar Rate Advances, or, in either case an integral multiple of $1,000,000 in excess thereof (or, in the case of an A Borrowing of Base Rate Advances, the aggregate unused Commitments, if less) and shall consist of A Advances of the same Type made on the same day by the Lenders ratably according to their respective Commitments. Each A Borrowing consisting of Eurodollar Rate Advances shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof. Each A Borrowing consisting of Base Rate Advances shall be in an aggregate amount not less than $500,000 or an integral multiple of $500,000 in excess thereof. Within the limits of each Lender's Commitment, the Borrower may from time to time make more than one Borrowing on any Business Day and may borrow, prepay pursuant to Section 2.11(b) 2.10, and reborrow under this Section 2.01.

Appears in 1 contract

Samples: Credit Agreement (Burlington Resources Inc)

Amounts and Terms of the Advances. A. SECTION 2.01. The A Advances. Each Lender severally agrees, agrees on the terms and conditions hereinafter set forth, to make A Advances to the Borrower from time to time on any Business Day during the period from the date hereof Effective Date until the Termination Date in an amounts such that the sum of (x) the aggregate principal amount not to exceed at any time outstanding the amount set opposite of A Advances by such Lender plus (y) such Lender's name on the signature pages hereof or, if such Lender has entered into any Assignment and Acceptance, set forth for such Lender in the Register maintained by the Agent pursuant to Section 8.07(c), as such amount may be reduced pursuant to Section 2.05 Swingline Exposure plus (z) such Lender's "LC Exposure at any one time outstanding shall not exceed such Lender's Commitment"), provided that 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 B Advances then outstanding and such deemed use of the aggregate amount of the Commitments shall be applied to the Lenders ratably according to their respective Commitments (such deemed use of the aggregate amount of the Commitments being a "B Reduction"), and provided further that in no event shall the Swingline Lender be obligated to make any loan hereunder if, after making such loan and giving effect to the application of any funds made available at such time to prepay or repay any outstanding Swingline Loan, the sum of the aggregate principal amount of A Advances, Swingline Loans and LC Exposure at such time outstanding exceeds an amount equal to (i) the aggregate Commitment less (ii) the aggregate B Reduction. Each A Borrowing shall be in an aggregate amount not less than $20,000,000 or an integral multiple of $1,000,000 in excess thereof (or, if less, an aggregate amount equal to the difference between the aggregate amount of a proposed B Borrowing requested by the Borrower and the aggregate amount of B Advances offered to be made by the Lenders and accepted by the Borrower in respect of such B Borrowing, if such B Borrowing is made on the same date as such A Borrowing) and shall consist of A Advances of the same Type made on the same day by the Lenders ratably according to their respective Commitments. Each A Borrowing consisting of Eurodollar Rate Advances shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof. Each A Borrowing consisting of Base Rate Advances shall be in an aggregate amount not less than $500,000 or an integral multiple of $500,000 in excess thereof. Within the limits of each Lender's Commitment, the Borrower may from time to time borrowborrow under this Section 2.01, prepay pursuant to Section 2.11(b2.13(b) and reborrow under this Section 2.01.

Appears in 1 contract

Samples: Credit Agreement (Supervalu Inc)

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Amounts and Terms of the Advances. A. SECTION 2.01. The A Advances. Each Lender severally -------------- agrees, on the terms and conditions hereinafter set forth, to make A Advances to the Company and any Designated Borrower (in Dollars or in Euros, at the election of the Company on its own behalf or on behalf of the applicable Borrower) from time to time on any Business Day during the period from the date hereof until Closing Date to and including the Commitment Termination Date in an aggregate amount not to exceed at any time outstanding the amount set opposite of such Lender's name on the signature pages hereof or, if such Lender has entered into any Assignment and Acceptance, set forth for such Lender in the Register maintained by the Agent pursuant to Section 8.07(c), as such amount may be reduced pursuant to Section 2.05 (such Lender's "Commitment"), ; provided that the aggregate amount of the Commitments of the Lenders shall be deemed used from time to time to the extent of the Dollar Equivalent of the aggregate amount of the B Advances then outstanding and such deemed use of the aggregate amount of the Commitments shall be applied to allocated among the Lenders ratably according to their respective Commitments (such deemed use of the aggregate amount of the Commitments being a "B Reduction"). Each A Borrowing shall be in an aggregate amount of ----------- $10,000,000 or an integral multiple of $1,000,000 in excess thereof, or the aggregate amount of the unused portion of the Lenders' Commitments; provided that any A Borrowing in an aggregate amount less than $10,000,000 shall consist solely of Base Rate Advances. In addition, each A Borrowing shall consist of A Advances of the same Type and Currency and having the same Interest Period made on the same day by the Lenders ratably according to their respective Commitments. Each A Borrowing consisting of Eurodollar Rate Advances shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof. Each A Borrowing consisting of Base Rate Advances shall be in an aggregate amount not less than $500,000 or an integral multiple of $500,000 in excess thereof. Within the limits of each Lender's Commitment, the Borrower Borrowers may from time to time borrowborrow under this Section 2.01, prepay pursuant to Section 2.11(b) and 2.10 and, on or prior to the Commitment Termination Date, reborrow under this Section 2.01.

Appears in 1 contract

Samples: Credit Agreement (Solutia Inc)

Amounts and Terms of the Advances. A. SECTION Section 2.01. The A Advances. Each Lender Bank, severally agreesand for itself alone, on the terms and conditions hereinafter set forth, hereby agrees to make A Advances to the Borrower from time to time on any Business Day during the period from the date hereof until prior to the Termination Date in an aggregate amount outstanding not to exceed at any time outstanding the amount set opposite such LenderBank's name on the signature pages hereof orCommitment, if such Lender has entered into any Assignment and Acceptanceprovided, set forth for such Lender in the Register maintained by the Agent pursuant to Section 8.07(c)that, as such amount may be reduced pursuant to Section 2.05 (such Lender's "Commitment"), provided that the aggregate amount of the Commitments of the Lenders Banks shall be deemed used from time to time to the extent of the aggregate amount of the B Advances then outstanding and such deemed use of the aggregate amount of the Commitments shall be applied to the Lenders Banks ratably according to their respective Commitments (such deemed use of the aggregate amount of the Commitments being a "B Reduction"), subject, however, to the conditions that (a) at no time shall (i) the sum of (A) the outstanding aggregate principal amount of all A Advances made by all Banks plus (B) the outstanding aggregate principal amount of all B Advances made by all Banks exceed (ii) the Total Commitment, and (b) at all times the outstanding aggregate principal amount of all A Advances made by a Bank shall equal the product of (i) the percentage which its Commitment represents of the Total Commitment times (ii) the outstanding aggregate principal amount of all A Advances made by all Banks. Each A Borrowing shall be in an aggregate amount of not less than $10,000,000 or an integral multiple of $1,000,000 in excess thereof, and shall consist of A Advances of the same Type made to the Borrower on the same day by the Lenders Banks ratably according to their respective Commitments. Each A Borrowing consisting of Eurodollar Rate Advances shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof. Each A Borrowing consisting of Base Rate Advances shall be in an aggregate amount not less than $500,000 or an integral multiple of $500,000 in excess thereofCommitments and having the same Interest Period. Within the limits of each LenderBank's Commitment, the Borrower may from time to time borrow, prepay pursuant to Section 2.11(b2.08(b) and reborrow under this Section 2.01reborrow. The indebtedness of the Borrower resulting from the A Advances made from time to time by each Bank shall be evidenced by an A Note of the Borrower payable to the order of such Bank.

Appears in 1 contract

Samples: Credit Agreement (Brinker International Inc)

Amounts and Terms of the Advances. A. SECTION The Section 2.01 (a) Revolving A Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make A Advances to the Borrower from time to time on any Business Day during the period from the date hereof until Effective Date to and including 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 under the caption "COMMITMENTS," or, if such Lender has entered into any Assignment and Acceptance, set forth for such Lender in the Register maintained by the Administrative Agent pursuant to Section 8.07(c), as such amount may be reduced pursuant to Section 2.05 2.04 (such Lender's "CommitmentCOMMITMENT"), provided that 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 B Advances then outstanding and such deemed use of the aggregate amount of the such Commitments shall be applied to all the Lenders ratably according to their respective Commitments (such deemed use of the aggregate amount of the Commitments being a "B ReductionREDUCTION"). Each A Borrowing consisting of Revolving A Advances shall be in an aggregate amount of $10,000,000 in the case of an A Borrowing comprised of Base Rate Advances and $25,000,000 in the case of an A Borrowing comprised of Eurodollar Rate Advances, or, in either case an integral multiple of $1,000,000 in excess thereof (or, in the case of an A Borrowing of Base Rate Advances, the aggregate unused Commitments, if less) and shall consist of A Advances of the same Type made on the same day by the Lenders ratably according to their respective Commitments. Each A Borrowing consisting of Eurodollar Rate Advances shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof. Each A Borrowing consisting of Base Rate Advances shall be in an aggregate amount not less than $500,000 or an integral multiple of $500,000 in excess thereof. Within the limits of each Lender's Commitment, the Borrower may from time to time make more than one Borrowing on any Business Day and may borrow, prepay pursuant to Section 2.11(b) 2.10, and reborrow under this Section 2.012.01(a).

Appears in 1 contract

Samples: Credit Agreement (Burlington Resources Inc)

Amounts and Terms of the Advances. A. SECTION 2.01. The A Advances. Each Lender severally agrees, -------------- on the terms and conditions hereinafter set forth, to make A Advances to the Company and any Designated Borrower (in Dollars or in Euros, at the election of the Company on its own behalf or on behalf of the applicable Borrower) from time to time on any Business Day during the period from the date hereof until Closing Date to and including the Commitment Termination Date in an aggregate amount not to exceed at any time outstanding the amount set opposite of such Lender's name on the signature pages hereof or, if such Lender has entered into any Assignment and Acceptance, set forth for such Lender in the Register maintained by the Agent pursuant to Section 8.07(c), as such amount may be reduced pursuant to Section 2.05 (such Lender's "Commitment"), ; provided that the aggregate amount of the Commitments of the Lenders shall be deemed used from time to time to the extent of the Dollar Equivalent of the aggregate amount of the B Advances then outstanding and such deemed use of the aggregate amount of the Commitments shall be applied to allocated among the Lenders ratably according to their respective Commitments (such deemed use of the aggregate amount of the Commitments being a "B Reduction"). ----------- Each A Borrowing shall be in an aggregate amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof, or the aggregate amount of the unused portion of the Lenders' Commitments; provided that any A Borrowing in an aggregate amount less than $10,000,000 shall consist solely of Base Rate Advances. In addition, each A Borrowing shall consist of A Advances of the same Type and Currency and having the same Interest Period made on the same day by the Lenders ratably according to their respective Commitments. Each A Borrowing consisting of Eurodollar Rate Advances shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof. Each A Borrowing consisting of Base Rate Advances shall be in an aggregate amount not less than $500,000 or an integral multiple of $500,000 in excess thereof. Within the limits of each Lender's Commitment, the Borrower Borrowers may from time to time borrowborrow under this Section 2.01, prepay pursuant to Section 2.11(b) and 2.10 and, on or prior to the Commitment Termination Date, reborrow under this Section 2.01.

Appears in 1 contract

Samples: Credit Agreement (Solutia Inc)

Amounts and Terms of the Advances. A. SECTION Section 2.01. The A Revolving Credit Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make A Revolving Credit Advances to the any Borrower from time to time on any Business Day during the period from the date hereof Effective Date until the Revolver 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 entered into any Assignment and AcceptanceAcceptance or an Assumption Agreement, set forth for such Lender in the Register maintained by the Administrative Agent pursuant to Section 8.07(c9.07(d), as such amount may be reduced pursuant to Section 2.05 (such Lender's "Commitment"), provided that 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 B Competitive Bid Advances then outstanding and such deemed use of the aggregate amount of the Commitments shall be applied to allocated among the Lenders ratably according to their respective Commitments (such deemed use of the aggregate amount of the Commitments being a "B Competitive Bid Reduction"). Each A Revolving Credit Borrowing shall be in an aggregate amount of $25,000,000 or an integral multiple of $1,000,000 in excess thereof and shall consist of A Revolving Credit Advances of the same Type made on the same day by the Lenders ratably according to their respective Commitments. Each A Notwithstanding any other provision of this Agreement, more than one Revolving Credit Borrowing consisting of Eurodollar Rate Advances shall may be in an aggregate amount not less than $5,000,000 made on the same day by either or an integral multiple of $1,000,000 in excess thereof. Each A Borrowing consisting of Base Rate Advances shall be in an aggregate amount not less than $500,000 or an integral multiple of $500,000 in excess thereofboth Borrowers. Within the limits of each Lender's Commitment, the Borrower Borrowers may from time to time borrowborrow under this Section 2.01, prepay pursuant to Section 2.11(b) 2.10 and reborrow under this Section 2.01.

Appears in 1 contract

Samples: Day Credit Agreement (Sprint Corp)

Amounts and Terms of the Advances. A. SECTION The 2.01. THE A AdvancesADVANCES. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make A Advances to the Borrower from time to time on any Business Day during the period from the date hereof Effective Date until the Termination Date in an aggregate amount not to exceed at any time outstanding (a) the amount set forth opposite such Lender's name on the signature pages hereof or, or (b) if such Lender has had its Commitment reduced pursuant to Section 2.05(b) or has entered into any Assignment and Acceptance, the amount set forth for such Lender in the Register maintained by the Administrative Agent pursuant to Section 8.07(c), in each case as such amount may be reduced pursuant to Section 2.05 (such Lender's "CommitmentCOMMITMENT"); PROVIDED, provided that 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 B Advances then outstanding and such deemed use of the aggregate amount of the Commitments shall be applied to allocated among the Lenders ratably according to their respective Commitments (such deemed use of the aggregate amount of the Commitments being a "B ReductionREDUCTION"). Each A Borrowing shall be in an aggregate amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof, or the aggregate amount of the unused portion of the Lenders' Commitments; PROVIDED, HOWEVER, that any A Borrowing in an aggregate amount less than $10,000,000 shall consist solely of Base Rate Advances. In addition, each A Borrowing shall consist of A Advances of the same Type and having the same Interest Period made on the same day by the Lenders ratably according to their respective Commitments. Each A Borrowing consisting of Eurodollar Rate Advances shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof. Each A Borrowing consisting of Base Rate Advances shall be in an aggregate amount not less than $500,000 or an integral multiple of $500,000 in excess thereof. Within the limits of each Lender's Commitment, the Borrower may from time to time borrowborrow under this Section 2.01, prepay pursuant to Section 2.11(b) 2.10 and reborrow under this Section 2.01.

Appears in 1 contract

Samples: Credit Agreement (Monsanto Co)

Amounts and Terms of the Advances. A. SECTION 2.01. The A Revolving Credit Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make A Revolving Credit Advances to the Borrower from time to time on any Business Day during the period from the date hereof Effective Date until the earlier of the Revolver Termination Date and the Term Loan Conversion 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 entered into any Assignment and Acceptance, set forth for such Lender in the Register maintained by the Agent pursuant to Section 8.07(c8.07(g), as such amount may be reduced pursuant to Section 2.05 (such Lender's "Commitment"), provided that 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 B Competitive Bid Advances then outstanding and such deemed use of the aggregate amount of the Commitments shall be applied to allocated among the Lenders ratably according to their respective Commitments (such deemed use of the aggregate amount of the Commitments being a "B Competitive Bid Reduction"). Each A Revolving Credit Borrowing shall be in an aggregate amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereof (or, if less, an aggregate amount equal to the amount by which the aggregate amount of a proposed Competitive Bid Borrowing requested by the Borrower exceeds the aggregate amount of Competitive Bid Advances offered to be made by the Lenders and accepted by the Borrower in respect of such Competitive Bid Borrowing, if such Competitive Bid Borrowing is made on the same date as such Revolving Credit Borrowing) and shall consist of A Revolving Credit Advances of the same Type made on the same day by the Lenders ratably according to their respective Commitments. Each A Borrowing consisting of Eurodollar Rate Advances shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof. Each A Borrowing consisting of Base Rate Advances shall be in an aggregate amount not less than $500,000 or an integral multiple of $500,000 in excess thereof. Within the limits of each Lender's Commitment, the Borrower may from time to time borrowborrow under this Section 2.01, prepay pursuant to Section 2.11(b) 2.10 and reborrow under this Section 2.01.

Appears in 1 contract

Samples: Credit Agreement (Detroit Edison Co)

Amounts and Terms of the Advances. A. SECTION 2.01. The A AdvancesAdvances (a). Each The Lender severally agrees, on the terms and ------------ conditions hereinafter set forth, to make A Advances advances (each an "Advance") to the Borrower from time to time on any Business Day during the period from the date hereof Effective Date until the Commitment Termination Date in an aggregate amount for each such Advance not to exceed the Unused Commitment at any time outstanding the amount set opposite such Lender's name on the signature pages hereof or, if such Lender has entered into any Assignment and Acceptance, set forth for such Lender in the Register maintained by the Agent pursuant to Section 8.07(c), as such amount may be reduced pursuant to Section 2.05 (such Lender's "Commitment"), provided that 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 B Advances then outstanding and such deemed use of the aggregate amount of the Commitments shall be applied to the Lenders ratably according to their respective Commitments (such deemed use of the aggregate amount of the Commitments being a "B Reduction")time. Each A Borrowing shall consist of A Advances of the same Type made on the same day by the Lenders ratably according to their respective Commitments. Each A Borrowing consisting of Eurodollar Rate Advances shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof. Each A Borrowing consisting of Base Rate Advances shall be in an aggregate amount not less than $500,000 1,000,0000 or an integral multiple of $500,000 in excess thereof; provided, however, that the Initial Extension of Credit shall be $10,000,000 and the aggregate amount of Borrowings made during each 30 day period thereafter shall not exceed $3,500,000. Within Pursuant to the limits of each Lender's Commitmentterms of, and subject to the conditions set forth in, the Escrow Agreement, the Borrower may from time shall be entitled to time borrowwithdraw amounts on deposit in the Escrow Account on or after the earlier of (i) the Disapproval Date and (ii) if the Approval Condition has not been met, prepay August 1, 2001, in an amount not to exceed the amount of the Unused Commitment on the date of such drawing, after giving effect to any Borrowing to be made on such drawing date; provided that, simultaneous with the delivery of a Seller Escrow Notice (as defined in the Escrow Agreement) to the Escrow Agent, the Borrower shall deliver a copy of such Seller Escrow Notice to the Lender via facsimile or hand delivery. The Lender hereby agrees that, simultaneous with the delivery of a Buyer Escrow Notice (as defined in the Escrow Agreement) to the Escrow Agent, the Lender shall deliver a copy of such Buyer Escrow Notice to the Borrower via facsimile or hand delivery. The withdrawal of any amounts on deposit in the Escrow Account by the Borrower and each payment or prepayment of amounts owing under or in respect of the Secured Facility Documents by the Lender pursuant to Section 2.11(b) 7.11 shall be deemed for all purposes of this Agreement and reborrow the other Loan Documents to be an Advance hereunder in an amount equal to such withdrawal or such payment or prepayment, as the case may be, other than for purposes of the amount limitations set forth in this Section 2.01 and in the Note, the procedures set forth in Section 2.02 and the conditions set forth in Section 3.02. Amounts borrowed, or deemed to be borrowed, under this Section 2.012.01 and repaid or prepaid may not be reborrowed.

Appears in 1 contract

Samples: Credit Agreement (Motorola Inc)

Amounts and Terms of the Advances. A. SECTION The A Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make A Revolving Credit Advances to the Borrower from time to time on any Business Day during the period from the date hereof 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 entered into any Assignment and Acceptance, set forth for such Lender in the Register maintained by the Administrative Agent pursuant to Section 8.07(c), as such amount may be reduced pursuant to Section 2.05 (such Lender's "Commitment"), provided that 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 B Competitive Bid Advances then outstanding and such deemed use of the aggregate amount of the Commitments shall be applied to allocated among the Lenders ratably according to their respective Commitments (such deemed use of the aggregate amount of the Commitments being a "B Competitive Bid Reduction"). Each A Revolving Credit Borrowing shall be in an aggregate amount of $25,000,000 or an integral multiple of $1,000,000 in excess thereof (or, if less, an amount equal to the remaining aggregate amount of unused Commitments or equal to the amount by which the aggregate amount of a proposed Competitive Bid Borrowing requested by the Borrower exceeds the aggregate amount of Competitive Bid Advances offered to be made by the Lenders and accepted by the Borrower in respect of such Competitive Bid Borrowing, if such Competitive Bid Borrowing is made on the same date as such Revolving Credit Borrowing) and shall consist of A Revolving Credit Advances of the same Type made on the same day by the Lenders ratably according to their respective Commitments. Each A Borrowing consisting of Eurodollar Rate Advances shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof. Each A Borrowing consisting of Base Rate Advances shall be in an aggregate amount not less than $500,000 or an integral multiple of $500,000 in excess thereof. Within the limits of each Lender's Commitment, the Borrower may from time to time borrowborrow under this Section 2.01, prepay pursuant to Section 2.11(b) 2.10 and reborrow under this Section 2.01.

Appears in 1 contract

Samples: Credit Agreement (United Parcel Service of America Inc)

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