Available Commitments Sample Clauses
The 'Available Commitments' clause defines the portion of a lender's total commitment under a credit agreement that remains undrawn and available for the borrower to use. It typically specifies how the available amount is calculated, taking into account any amounts already borrowed, repaid, or reserved for outstanding letters of credit or other obligations. This clause ensures both parties have a clear understanding of the remaining funds accessible to the borrower at any given time, thereby preventing over-borrowing and maintaining transparency in the lending relationship.
Available Commitments. After giving effect to the applicable Advance, the conditions set forth in Sections 3.2 and 3.3 shall not be violated.
Available Commitments. Such Future Advance, together with all other Future Advances previously made hereunder, shall not exceed the aggregate remaining Commitments.
Available Commitments. After giving effect to the applicable --------------------- Advance, the condition set forth in the last paragraph of Section 3.1 shall ----------- not be violated.
Available Commitments. After giving effect to such extension of credit, the Borrowing Base would be equal to or greater than the aggregate principal amount of the Revolving Credit Loans, Swing Line Loans and L/C Obligations then outstanding. Each borrowing by and issuance of a Letter of Credit on behalf of the Borrower hereunder shall constitute a representation and warranty by the Borrower as of the date of such extension of credit that the conditions contained in this Section 5.2 have been satisfied.
Available Commitments. After giving effect to the applicable Advance, the condition set forth in the last sentence of Section 3(a)(1) shall not be violated.
Available Commitments. The Available Commitment shall be terminated automatically on the Closing Date upon the borrowing of the Credit Loans. The Available Commitment once terminated may not be reinstated.
Available Commitments. That no Creditor has suspended or canceled its corresponding Commitments.
Available Commitments. During the Revolving Credit Period, the Borrowers may, upon at least three Business Days' notice to the Agent (who shall promptly notify the Lenders upon receipt of such notice), (i) terminate the Available Commitment at any time, if no Credit Loans are outstanding at such time, (ii) reduce from time to time by an aggregate amount of at least $10,000,000 the Available Commitment in excess of the aggregate outstanding principal amount of the Credit Loans or (iii) reduce from time to time the Available Commitment by an amount such that the Available Commitment (after taking into account such reduction) equals the aggregate outstanding principal amount of the Credit Loans. The Available Commitment shall be terminated automatically on the Commitment Termination Date. The Available Commitment once terminated or reduced may not be reinstated.
Available Commitments. At any time, an amount equal to the excess, if any, of (a) the aggregate Commitments MINUS (b) the Letter of Credit Exposure.
Available Commitments. That any Lender has not suspended or cancelled its corresponding Commitments in accordance with the provisions of this Agreement.