Common use of Borrowing Limitation Clause in Contracts

Borrowing Limitation. Each Credit Party hereby acknowledges and confirms that (a) Exhibit C hereto sets forth the aggregate principal amount of all outstanding U.S. Extensions of Credit and Extensions of Credit (excluding the Additional Credit Loans and treating the entire Swingline Commitment as outstanding) as of the date hereof and (b) that such amounts are not subject to any defense, counterclaim, recoupment or offset of any kind. From and after the date hereof until the completion closing and settlement of the Exchange Offer, the Borrower shall be permitted to request Extensions of Credit and U.S. Borrower shall be permitted to request U.S. Extensions of Credit; provided, that (i) the aggregate principal of all outstanding U.S. Extensions of Credit shall not exceed the amount set forth on Exhibit C with respect to the U.S. Extensions of Credit and (ii) the aggregate principal of all outstanding Extensions of Credit (excluding the Additional Credit Loans and treating the entire Swingline Commitment as outstanding) shall not exceed the amount set forth on Exhibit C with respect to the Extensions of Credit.