Common use of Availability Limit Clause in Contracts

Availability Limit. Should the Outstanding Amount of Loans plus the Outstanding Amount of L/C Obligations at any time exceed the Availability, Borrower shall immediately repay such excess to Administrative Agent, for the account of the Lenders and/or deliver to Administrative Agent Cash Collateral pursuant to Section 2.5.5 hereof, in the amount of the excess of the outstanding but undrawn Letters of Credit over the Availability.

Appears in 6 contracts

Samples: Revolving Credit Agreement (Essex Property Trust Inc), Revolving Credit Agreement (Essex Portfolio Lp), Revolving Credit Agreement (AmREIT, Inc.)

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Availability Limit. Should the Outstanding Amount aggregate principal amount of the outstanding Loans plus the Outstanding Amount of L/C Obligations at any time exceed the Availability, Borrower shall immediately repay such excess to Administrative Agent, for the account of the Lenders and/or deliver to Administrative Agent Cash Collateral pursuant to Section 2.5.5 hereofLenders; provided, however, that in the event that the aggregate amount of the excess of the outstanding but undrawn Letters of Credit over exceeds the Availability, Borrower shall deliver cash collateral to Administrative Agent in the amount of such excess.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Essex Property Trust Inc), Revolving Credit Agreement (Essex Portfolio Lp)

Availability Limit. Should the Outstanding Amount of Loans plus the Outstanding Amount of L/C Obligations at any time exceed the Availability, Borrower shall immediately repay such excess to Administrative Agent, for the account of the Lenders and/or deliver to Administrative Agent Cash Collateral pursuant to Section 2.5.5 2.4.5 hereof, in the amount of the excess of the outstanding but undrawn Letters of Credit over the Availability.

Appears in 1 contract

Samples: Revolving Credit Agreement (Essex Portfolio Lp)

Availability Limit. Should the Outstanding Amount of Loans (including all Swing Loans and Bid Loans) plus the Outstanding Amount of L/C Obligations at any time exceed the Availability, Borrower shall immediately repay such excess to Administrative Agent, for the account of the Lenders and/or deliver to Administrative Agent Cash Collateral pursuant to Section 2.5.5 2.6.5 hereof, in the amount of the excess of the outstanding but undrawn Letters of Credit over the Availability.

Appears in 1 contract

Samples: Revolving Credit Agreement (Essex Portfolio Lp)

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Availability Limit. Should the Outstanding Amount of Loans and Swing Loans plus the Outstanding Amount of L/C Obligations at any time exceed the Availability, Borrower shall immediately repay such excess to Administrative Agent, for the account of the Lenders and/or deliver to Administrative Agent Cash Collateral pursuant to Section 2.5.5 hereof, in the amount of the excess of the outstanding but undrawn Letters of Credit over the Availability.

Appears in 1 contract

Samples: Revolving Credit Agreement (Essex Portfolio Lp)

Availability Limit. Should the Outstanding Amount of Loans plus the Outstanding Amount of L/C Obligations at any time exceed the Availability, Borrower the Company shall immediately repay such excess to the Administrative Agent, for the account of the Lenders Banks and/or deliver to Administrative Agent Cash Collateral pursuant to Section 2.5.5 subsection 2.4.5 hereof, in the amount of the excess of the outstanding but undrawn Letters of Credit over the Availability.

Appears in 1 contract

Samples: Credit Agreement (Bedford Property Investors Inc/Md)

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