Common use of Commitment Limits Clause in Contracts

Commitment Limits. Notwithstanding any other provision of this Agreement (a) the aggregate principal amount of the Revolving Loans which all Banks are committed to lend to the Company together with the Stated Amount of all Letters of Credit then outstanding shall not at any one time exceed the lesser of (i) the Borrowing Base or (ii) the following amounts (less in each case any reductions made pursuant to SECTION 6.1 or SECTION 6.3) during the following period: MONTH ENDING AMOUNT February 28, 1999 $140,000,000 March 31, 1999 $140,000,000 April 30, 1999 $135,000,000 May 31, 1999 $135,000,000 June 30, 1999 $135,000,000 July 31, 1999 $118,000,000 August 31, 1999 $115,000,000 September 30, 1999 $118,000,000 October 31, 1999 $115,000,000 November 30, 1999 $115,000,000 December 31, 1999 $110,000,000 January 31, 2000 $110,000,000 February 28, ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇ 5.2 of the Credit Agreement is amended to read in its entirety as follows:

Appears in 1 contract

Sources: Credit Agreement (Allied Products Corp /De/)

Commitment Limits. Notwithstanding any other provision of this Agreement (a) the aggregate principal amount of the Revolving Loans which all Banks are committed to lend to the Company together with the Stated Amount of all Letters of Credit then outstanding shall not at any one time exceed the lesser of (i) the Borrowing Base or (ii) the following amounts (less in each case any reductions made pursuant to SECTION 6.1 or SECTION 6.3) during the following period: MONTH ENDING PERIOD AMOUNT ------ ------ December 31, 1998 $145,000,000 February 1, 1999 $140,000,000 February 28, 1999 $140,000,000 March 31, 1999 $140,000,000 April 30, 1999 $135,000,000 May 31, 1999 $135,000,000 June 30, 1999 $135,000,000 July 31, 1999 $118,000,000 110,000,000 August 31, 1999 $115,000,000 105,000,000 September 30, 1999 $118,000,000 $ 95,000,000 October 31, 1999 $115,000,000 $ 95,000,000 November 30, 1999 $115,000,000 $ 90,000,000 December 31, 1999 $110,000,000 January 31, 2000 $110,000,000 February 28, ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇ 5.2 of the Credit Agreement is amended to read in its entirety as follows:$ 80,000,000

Appears in 1 contract

Sources: Credit Agreement (Allied Products Corp /De/)