Commitment of the Banks. (a) Each Bank severally and not jointly with the other Banks agrees, upon the terms and subject to the conditions herein set forth (including, without limitation, the provisions of Section 2.28), to make revolving credit loans (each a "
Commitment of the Banks. Subject to the terms and conditions set forth in this Agreement, the Banks severally agree, in proportion to their respective Term Loan Commitments, to make Borrower a term loan in the aggregate original principal amount of Sixty Million Dollars ($60,000,000.00) (the "Term Loan"). The Term Loan shall be advanced by the Banks in two separate advances, the first of which shall have been made pursuant to the Prior Agreement and, after the $30,000,000.00 prepayment on the date hereof, is outstanding on the date hereof in the amount of $56,274,239.31; and the second advance which shall be in the principal amount of $3,725,760.69, which shall be made on October 1, 1996 pursuant to and subject to the terms of Section 10.1(p) herein. The Term Loan may be either (a) a Base Rate Loan, (b) a LIBOR Loan or (c) any combination thereof, as determined by the Borrower and notified to the Agent in accordance with Section 6.1 herein, provided, however, that the amount of any Base Rate Loan shall not be less than $1,500,000.00 or multiples of $100,000.00 in excess thereof, and the amount of any LIBOR Loan shall not be less than $2,500,000.00 or multiples of $250,000.00 in excess thereof.
Commitment of the Banks. (a) Each Bank severally and not jointly with the other Banks agrees, upon the terms and subject to the conditions herein set forth to make revolving credit loans (each a "Loan" and collectively, the "Loans") to the Borrower at any time and from time to time during the period commencing on the date hereof and ending on the Termination Date (or the earlier date, if any, of termination of the Total Commitment) in an aggregate principal amount not to exceed, when added to such Bank's Commitment Percentage of the then aggregate Letter of Credit Outstandings (in excess of the amount of cash then held in the Letter of Credit Account pursuant to Section 2.2(b)), the Commitment of such Bank, which Loans may be repaid and reborrowed in accordance with the provisions of this Agreement. At no time shall the sum of the then outstanding aggregate principal amount of the Loans plus the then aggregate Letter of Credit Outstandings exceed the Total Commitment of $200,000,000, as the same may be reduced from time to time pursuant to Sections 2.9 or 2.12, as the case may be.
Commitment of the Banks. (a) Each Bank severally and not jointly with the other Banks agrees, upon the terms and subject to the conditions herein set forth (including, without limitation, the provisions of Section 2.28), to make revolving credit loans (together with Swingline Loans referred to in Section 2.06, each a "Loan" ---- and collectively, the "Loans") to the Borrower at any time and from time to time ----- during the period commencing on the date hereof and ending on the Termination Date in an aggregate principal amount (exclusive of the aggregate principal amount of the Swingline Loans, if any, made by such Bank) not to exceed, when added to such Bank's Commitment Percentage of the then aggregate Letter of Credit Outstandings, the Commitment of such Bank, which Loans may be repaid and reborrowed in accordance with the provisions of this Agreement. At no time shall the sum of the then outstanding aggregate principal amount of the Loans plus the ---- then aggregate Letter of Credit Outstandings exceed the lesser of (i) the Total Commitment of $100,000,000 as the same may be reduced from time to time pursuant to Sections 2.10 and 2.13 and (ii) after the execution and delivery of the Borrowing Base Amendment, the Borrowing Base.
Commitment of the Banks. (1) Each Bank severally and not jointly with the other Banks agrees, upon the terms and subject to the conditions herein set forth (including, without limitation, the provisions of Section 2.28), to make revolving credit loans (each a "
Commitment of the Banks. Subject to the terms and conditions of this Agreement and in reliance upon the warranties of the Company herein set forth, each Bank, severally for itself alone, and not jointly, agrees:
Commitment of the Banks. Each Bank agrees, for itself only, subject to the terms and conditions of this Agreement, (i) to make Revolving Credit Loans to the Borrowers pursuant to Section 2.4 from time to time from and including the Effective Date to but excluding the Termination Date, and (ii) to participate in Facility LCs issued upon the request of Asset Acceptance, not to exceed in aggregate principal amount at any time outstanding the amount determined pursuant to the next following sentence. Notwithstanding anything in this Agreement to the contrary, (a) the Outstanding Credit Exposure of any Bank at any time shall not exceed the amount of its respective Commitment at such time, and (b) the aggregate Outstanding Credit Exposure of all Banks at any time outstanding shall not exceed the amount of the Borrowing Base as of the close of business on the last day of the month next preceding the date any such Credit Extension. The Loans may be made or continued as Floating Rate Borrowings or Eurodollar Rate Borrowings, or a combination thereof, as selected by Asset Acceptance in accordance with Sections 2.4 and 2.9. The LC Issuer will issue Facility LCs hereunder on the terms and conditions set forth in Section 2.12.
Commitment of the Banks. 2.2 Minimum Amounts; Limitation on Number of Borrowings............................... 2.3
Commitment of the Banks. 12 SECTION 2.02
Commitment of the Banks. (a) Each Bank severally and not jointly with the other Banks agrees, upon the terms and subject to the conditions herein set forth, to make revolving credit loans (each a "LOAN" and collectively, the "LOANS") to the Borrower at any time and from time to time during the period commencing on the date hereof and ending on the Termination Date in an aggregate principal amount not to exceed, when added to such Bank's Commitment Percentage of the then aggregate Letter of Credit Outstandings (in excess of the amount of cash then held in the Letter of Credit Account pursuant to Section 2.03(b)), the Commitment of such Bank, which Loans may be repaid and reborrowed in accordance with the provisions of this Agreement. At no time shall the sum of the then outstanding aggregate principal amount of the Loans PLUS the then aggregate Letter of Credit Outstandings exceed the lesser of (i) the Total Commitment of $581,868,616.73, as the same may be reduced from time to time pursuant to Section 2.10 or Section 2.13 and (ii) the Borrowing Base. On the Closing Date, each of the Banks that is shown under the column headed "Settlement Amount" on that certain LTV Steel Replacement DIP Settlement Accounting (4/02/01), a copy of which has heretofore been furnished to the Banks, as making a payment shall pay the amount thereof to the Agent for the account of those Banks who are shown therein as receiving a payment, and the Agent shall distribute such payments as set forth therein.
