Common use of Commitment and Advances Clause in Contracts

Commitment and Advances. As a condition precedent to the Loan, Borrower shall have satisfied all of the conditions set forth in Exhibit "A" on or before the Closing Date or such other date specified therein. Thereafter, each Lender agrees severally and not jointly to make Advances of the Loan to Borrower in accordance with this Agreement from the Closing Date to the earliest to occur of (a) the Maturity Date; (b) if Agent elects, the date thirty (30) days after the Closing Date if all conditions to the first Advance have not been satisfied on or before such date; (c) the Advance Termination Date; or (d) termination under Article 8. Notwithstanding the foregoing, Lenders shall have no obligation to make any Advance (x) which would cause the unpaid principal amount of the Loan to exceed the lesser of the Committed Sum or the Maximum Available Amount, except to the extent contemplated in Section 3.7(b)(v) with respect to Bid Rate Loans, or (y) to the extent Lenders are relieved from such obligation under provisions of the Loan Documents. Furthermore, except to the extent contemplated in Section 3.7(b)(v) with respect to Bid Rate Loans, no Lender shall have any obligation to make any Advance which would cause the unpaid principal balance of such Lender's Notes to exceed such Lender's Commitment. The Loan is revolving until the Advance Termination Date; prior to the Advance Termination Date any amount repaid may be reborrowed. The Loan is non-revolving on and after the Advance Termination Date. The amount of the Loan set forth on the books and records of Agent maintained in the ordinary course of business shall be presumptive evidence of the principal amount thereof owing and unpaid from time to time, but the failure to record any such amount shall not limit or affect the Obligations. The obligations of Borrower with respect to all Advances other than Bid Rate Loans shall be evidenced by the Advance Notes. The obligations of Borrower with respect to the Bid Rate Loans shall be evidenced by the Bid Rate Notes. Borrower hereby authorizes Lenders to make Advances of the Loan on the Closing Date to pay all amounts outstanding, principal, interest and other sums, under those certain Promissory Notes dated effective as of April 14, 1997, made payable by Borrower to the order of the lenders under the Prior Loan Agreement in the aggregate original principal sum of $150,000,000.00. Borrower further acknowledges that this Agreement restates and amends the Prior Loan Agreement in its entirety.

Commitment and Advances. As a condition precedent to the Loan, Borrower shall have satisfied all of the conditions set forth in Exhibit "A" on or before the Closing Date or such other date specified therein. Thereafter, each Lender agrees severally and not jointly to make Advances of the Loan to Borrower in accordance with this Agreement from the Closing Date to the earliest to occur of (a) the Maturity Date; (b) if Agent elects, the date thirty (30) days after the Closing Date if all conditions to the first Advance have not been satisfied on or before such date; (c) the Advance Termination Date; or (d) termination under Article 8. Notwithstanding the foregoing, Lenders shall have no obligation to make any Advance (x) which would cause the unpaid principal amount of the Loan to exceed the lesser of the Committed Sum or the Maximum Available Amount, except to the extent contemplated in Section 3.7(b)(v) with respect to Bid Rate Loans, or (y) to the extent Lenders are relieved from such obligation under provisions of the Loan Documents. Furthermore, except to the extent contemplated in Section 3.7(b)(v) with respect to Bid Rate Loans, no Lender shall have any obligation to make any Advance which would cause the unpaid principal balance of such Lender's Notes to exceed such Lender's Commitment. The Loan is revolving until the Advance Termination Date; prior to the Advance Termination Date any amount repaid may be reborrowed. The Loan is non-revolving on and after the Advance Termination Date. The amount of the Loan set forth on the books and records of Agent maintained in the ordinary course of business shall be presumptive evidence of the principal amount thereof owing and unpaid from time to time, but the failure to record any such amount shall not limit or affect the Obligations. The obligations of Borrower with respect to all Advances other than Bid Rate Loans shall be evidenced by the Advance Notes other than the Bid Rate Notes. The obligations of Borrower with respect to the Bid Rate Loans shall be evidenced by the Bid Rate Notes. Borrower hereby authorizes Lenders to make Advances of the Loan on the Closing Date to pay all amounts outstanding, principal, interest and other sums, under those certain Promissory Notes dated effective as of April 14September 27, 19971995, made payable by Borrower to the order of the lenders under the Prior Loan Agreement in the aggregate original principal sum of $150,000,000.00. Borrower further acknowledges that this Agreement restates and amends the Prior Loan Agreement in its entirety.