Commitment to Lend. Subject to the terms and conditions set forth in this Credit Agreement, each of the Lenders severally agrees to lend to the Borrower and the Borrower may borrow, repay, and reborrow from time to time from the Closing Date until the Maturity Date, upon notice by the Borrower to the Agent given in accordance with SECTION 2.6 hereof, such sums as are requested by the Borrower up to a maximum aggregate amount outstanding (after giving effect to all amounts requested) at any one time equal to such Lender's Commitment MINUS such Lender's Commitment Percentage of the sum of the Maximum Drawing Amount and all Unpaid Reimbursement Obligations; PROVIDED that the sum of the outstanding amount of the Revolving Credit Loans (after giving effect to all amounts requested) PLUS the Maximum Drawing Amount and all Unpaid Reimbursement Obligations shall not at any time exceed the lesser of the Total Commitment and the Borrowing Base, and PROVIDED FURTHER, that the Borrower shall not have the right to request any Revolving Credit Loans hereunder unless the principal amounts then outstanding under the UK Facility (including the maximum amount available to be drawn under letters of credit and other collateral instruments issued under such facility) are equal to or greater than (pound)2,000,000. The Revolving Credit Loans shall be made PRO RATA in accordance with each Lender's Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrower that the conditions set forth in SECTIONS 12 and 13 hereof, in the case of the initial Revolving Credit Loans to be made on the Closing Date, and SECTION 13, in the case of all other Revolving Credit Loans, have been satisfied on the date of such request.
Appears in 1 contract
Sources: Revolving Credit and Term Loan Agreement (CRC Evans International Inc)
Commitment to Lend. Subject to the terms and conditions set forth in this Credit Agreement, each of the Lenders Banks severally agrees to lend to the Borrower and the Borrower may borrow, repay, and reborrow from time to time from between the Closing Date until and the Tranche A Maturity Date, Date upon notice by the Borrower to the Administrative Agent given in accordance with SECTION 2.6 Section 2.3 hereof, such sums as are requested by the Borrower up to a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to the Tranche A Commitment Amount minus the sum of (a) the Maximum Drawing Amount plus (b) all Unpaid Reimbursement Obligations; provided that, with respect to each Bank, the outstanding amount of the Tranche A Loans (after giving effect to all amounts requested) made by such Lender's Commitment MINUS Bank plus such LenderBank's Commitment Percentage of the sum of the Maximum Drawing Amount and all Unpaid Reimbursement Obligations; PROVIDED that the sum of the outstanding amount of the Revolving Credit Loans (after giving effect to all amounts requested) PLUS the Maximum Drawing Amount and all Unpaid Reimbursement Obligations shall not at any time exceed the lesser such Bank's Commitment Percentage of the Total Commitment and the Borrowing Base, and PROVIDED FURTHER, that the Borrower shall not have the right to request any Revolving Credit Loans hereunder unless the principal amounts then outstanding under the UK Facility (including the maximum amount available to be drawn under letters of credit and other collateral instruments issued under such facility) are equal to or greater than (pound)2,000,000. The Revolving Credit Loans shall be made PRO RATA in accordance with each Lender's Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrower that the conditions set forth in SECTIONS 12 and 13 hereof, in the case of the initial Revolving Credit Loans to be made on the Closing Date, and SECTION 13, in the case of all other Revolving Credit Loans, have been satisfied on the date of such request.Tranche A
Appears in 1 contract
Sources: Revolving Credit and Term Loan Agreement (Emmis Communications Corp)
Commitment to Lend. Subject to the terms and conditions set forth in this Credit Agreement, each of the Lenders Banks severally agrees to lend to the Borrower and the Borrower may borrow, repay, and reborrow from time to time from between the Closing Date until and the Maturity Date, Date upon notice by the Borrower to the Agent given in accordance with SECTION 2.6 hereofSection 2.6, such sums as are requested by the Borrower up to a maximum aggregate amount outstanding (after giving effect to all amounts requested) at any one time equal to such LenderBank's Commitment MINUS minus such LenderBank's Commitment Percentage of the sum of the Maximum Drawing Amount and all Unpaid Reimbursement Obligations; PROVIDED Obligations and such Bank's Commitment Percentage of any then-outstanding Swingline Loans, provided that the sum of the outstanding amount of the Revolving Credit Loans (after giving effect to all amounts requested) PLUS plus the Maximum Drawing Amount Amount, the then-outstanding amount of any Swingline Loans, and all Unpaid Reimbursement Obligations shall not at any time exceed the lesser of the Total Commitment and the Borrowing Base, and PROVIDED FURTHER, that the Borrower shall not have the right to request any Revolving Credit Loans hereunder unless the principal amounts then outstanding under the UK Facility (including the maximum amount available to be drawn under letters of credit and other collateral instruments issued under such facility) are equal to or greater than (pound)2,000,000Commitment. The Revolving Credit Loans shall be made PRO RATA pro rata in accordance with each LenderBank's Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrower that the conditions set forth in SECTIONS Section 12 and 13 hereof, in the case of the initial Revolving Credit Loans to be made on the Closing Date, and SECTION 13, in the case of all other Revolving Credit Loans, have been satisfied on the date of such request.
Appears in 1 contract
Commitment to Lend. Subject to the terms and conditions set forth in this Credit Agreement, each of the Lenders severally agrees to lend to the Borrower and the Borrower may borrow, repay, and reborrow from time to time from the Closing Date until up to but not including the Maturity Date, Date upon notice by the Borrower to the Administrative Agent given in accordance with SECTION 2.6 hereof2.6, such sums as are requested by the Borrower up to a maximum aggregate amount outstanding (after giving effect to all amounts requested) at any one time equal to such Lender's Lenders Commitment MINUS minus such Lender's Lenders Commitment Percentage of the sum of (a) the Maximum Drawing Amount and all Unpaid Reimbursement ObligationsObligations and (b) the outstanding Swing Line Loans; PROVIDED provided that the sum of the outstanding amount of the Revolving Credit Loans Exposure (after giving effect to all amounts requested) PLUS the Maximum Drawing Amount and all Unpaid Reimbursement Obligations shall not at any time exceed the lesser of the Total Commitment and the Borrowing Base, and PROVIDED FURTHER, that the Borrower shall not have the right to request any Revolving Credit Loans hereunder unless the principal amounts then outstanding under the UK Facility (including the maximum amount available to be drawn under letters of credit and other collateral instruments issued under such facility) are equal to or greater than (pound)2,000,000Gross Availability. The Revolving Credit Loans shall be made PRO RATA pro rata in accordance with each Lender's Lenders Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrower that the conditions set forth in SECTIONS 12 10 and 13 hereof11, in the case of the initial Revolving Credit Loans to be made on the Closing Date, and SECTION 1311, in the case of all other Revolving Credit Loans, have been satisfied on the date of such request.
Appears in 1 contract
Commitment to Lend. Subject to the terms and conditions set forth in this Credit Agreement, each of the Lenders Banks severally agrees to lend to the Borrower and the Borrower may borrow, repay, and reborrow from time to time from the Closing Date until up to but not including the Revolving Credit Loan Maturity Date, Date upon notice by the Borrower to the Agent given in accordance with SECTION 2.6 hereof§2.6, such sums as are requested by the Borrower up to a maximum aggregate amount outstanding (after giving effect to all amounts requested) at any one time equal to such Lender's Bank’s Commitment MINUS minus such Lender's Bank’s Commitment Percentage of the sum of the Maximum Drawing Amount and all Unpaid Reimbursement Obligations; PROVIDED , provided that the sum of the outstanding amount of the Revolving Credit Loans (after giving effect to all amounts requested) PLUS plus the Maximum Drawing Amount and all Unpaid Reimbursement Obligations shall not at any time exceed the lesser of (i) the Total Commitment at such time and (ii) the Borrowing BaseBase at such time, and PROVIDED FURTHERprovided, that further, notwithstanding the foregoing proviso, to the extent the Borrower shall not have is requesting a Revolving Credit Loan to fund all or a portion of a Permitted Acquisition, then the right to request any sum of the outstanding amount of the Revolving Credit Loans hereunder unless (after giving effect to all amounts requested) plus the principal amounts then outstanding under Maximum Drawing Amount and all Unpaid Reimbursement Obligations shall not at any time exceed the UK Facility lesser of (including i) the maximum amount available to be drawn under letters of credit Total Commitment at such time and other collateral instruments issued under (ii) the Borrowing Base at such facility) are equal to or greater than (pound)2,000,000time plus the Overadvance Amount at such time. The Revolving Credit Loans shall be made PRO RATA pro rata in accordance with each Lender's Bank’s Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrower that the conditions set forth in SECTIONS 12 §11 and 13 hereof§12, in the case of the initial Revolving Credit Loans to be made on the Closing Date, and SECTION 13§12, in the case of all other Revolving Credit Loans, have been satisfied on the date of such request.
Appears in 1 contract
Commitment to Lend. Subject to the terms and conditions set forth in this Credit Agreement, each of the Lenders Banks severally agrees to lend to the Borrower and the Borrower may borrow, repay, and reborrow from time to time from between the Closing Date until and the Revolving Credit Loan Maturity Date, Date upon notice by the Borrower to the Agent given in accordance with SECTION 2.6 hereof2.6, such sums as are requested by the Borrower up to a maximum aggregate amount outstanding from such Bank (after giving effect to all amounts requested) at any one time equal to such LenderBank's Commitment MINUS to make Revolving Credit Loans minus such LenderBank's Commitment Percentage of the sum of the Maximum Drawing Amount and all Unpaid Reimbursement Obligations; PROVIDED Amount, provided that the sum of the outstanding amount of the Revolving Credit Loans (after giving effect to all amounts requested) PLUS plus the Maximum Drawing Amount and all Unpaid Reimbursement Obligations shall not at any time exceed the lesser of (a) the Total Commitment sum of the Bank's Commitments to make Revolving Credit Loans and (b) the Borrowing Base, and PROVIDED FURTHER, that the Borrower shall not have the right to request any Revolving Credit Loans hereunder unless the principal amounts then outstanding under the UK Facility (including the maximum amount available to be drawn under letters of credit and other collateral instruments issued under such facility) are equal to or greater than (pound)2,000,000. The Revolving Credit Loans shall be made PRO RATA in accordance with each Lender's Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrower that the conditions set forth in SECTIONS 12 and 13 hereof13, in the case of the initial Revolving Credit Loans to be made on the Closing Date, and SECTION 13, in the case of all other Revolving Credit Loans, have been satisfied on the date of such request.
Appears in 1 contract
Sources: Revolving Credit and Term Loan Agreement (Arrow Automotive Industries Inc)
Commitment to Lend. Subject to the terms and conditions set ------------------ forth in this Credit Agreement, each of the Lenders Banks severally agrees to lend to the Borrower and the Borrower may borrow, repay, and reborrow from time to time from between the Closing Date until and the Revolving Credit Loan Maturity Date, Date upon notice by the Borrower to the Agent given in accordance with SECTION 2.6 hereof(S)2.6, such sums as are requested by the Borrower up to a maximum aggregate amount outstanding (after giving effect to all amounts requested) at any one time equal to such LenderBank's Commitment MINUS minus such LenderBank's Revolving ----- Credit Loan Commitment Percentage of the sum of the Maximum Drawing Amount and all Unpaid Reimbursement Obligations; PROVIDED , provided that the sum of the -------- outstanding amount of the Revolving Credit Loans (after giving effect to all amounts requested) PLUS plus the Maximum Drawing Amount and all Unpaid ---- Reimbursement Obligations shall not at any time exceed the lesser of the Total Commitment and the Borrowing Base, and PROVIDED FURTHER, that the Borrower shall not have the right to request any Revolving Credit Loans hereunder unless the principal amounts then outstanding under the UK Facility (including the maximum amount available to be drawn under letters of credit and other collateral instruments issued under such facility) are equal to or greater than (pound)2,000,000Commitment. The Revolving Credit Loans shall be made PRO RATA pro rata in accordance --- ---- with each LenderBank's Revolving Credit Loan Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrower that the conditions set forth in SECTIONS 12 (S)12 and 13 hereof(S)13, in the case of the initial Revolving Credit Loans to be made on the Closing Date, and SECTION 13(S)13, in the case of all other Revolving Credit Loans, have been satisfied on the date of such request.
Appears in 1 contract
Sources: Revolving Credit and Term Loan Agreement (Petro Stopping Centers L P)
Commitment to Lend. Subject to the terms and conditions set forth in ------------------ this Credit Agreement, each of the Lenders severally agrees to lend to the Borrower Borrowers and the Borrower Borrowers may borrow, repay, and reborrow from time to time from the Closing Date until up to but not including the Maturity Date, Date upon notice by the Borrower Borrowers to the Administrative Agent given in accordance with SECTION 2.6 hereofSection 2.6, such sums as are requested by the Borrower Borrowers up to a maximum aggregate amount outstanding (after giving effect to all amounts requested) at any one time equal to such Lender's Commitment MINUS minus such Lender's Commitment Percentage ----- of the sum of the Maximum Drawing Amount and all Unpaid Reimbursement Obligations; PROVIDED , provided that the sum of the outstanding amount of the Revolving -------- Credit Loans (after giving effect to all amounts requested) PLUS plus the Maximum ---- Drawing Amount and all Unpaid Reimbursement Obligations shall not at any time exceed the lesser of (i) the Total Commitment at such time and (ii) the Borrowing Base, and PROVIDED FURTHER, that the Borrower shall not have the right to request any Revolving Credit Loans hereunder unless the principal amounts then outstanding under the UK Facility (including the maximum amount available to be drawn under letters of credit and other collateral instruments issued under Base at such facility) are equal to or greater than (pound)2,000,000time. The Revolving Credit Loans shall be made PRO RATA pro rata --- ---- in accordance with each Lender's Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrower Borrowers that the conditions set forth in SECTIONS 12 Section 11 and 13 hereofSection 12, in the case of the initial Revolving Credit Loans to be made on the Closing Date, and SECTION 13Section 12, in the case of all other Revolving Credit Loans, have been satisfied on the date of such request.
Appears in 1 contract
Sources: Revolving Credit Agreement (Us Xpress Enterprises Inc)
Commitment to Lend. Subject to the terms and conditions set forth in this Credit Agreement, each of the Lenders Banks severally agrees to lend to the Borrower and the Borrower may borrow, repay, and reborrow from time to time from the Closing Date until up to but not including the Maturity Date, Termination Date upon notice by the Borrower to the Administrative Agent given in accordance with SECTION 2.6 hereofss.2.6, such sums as are requested by the Borrower up to a maximum aggregate amount outstanding (after giving effect to all amounts requested) at any one time equal to such LenderBank's Revolving Credit Commitment MINUS minus such LenderBank's Revolving Credit Commitment Percentage of the sum of the Maximum Drawing Amount of all Letters of Credit and all Unpaid Reimbursement Obligations; PROVIDED , provided that the sum of the outstanding amount of the Revolving Credit Loans (after giving effect to all amounts requested) PLUS plus the Maximum Drawing Amount of all Letters of Credit and all Unpaid Reimbursement Obligations shall not at any time exceed the lesser least of (i) the Total Revolving Credit Commitment and the Borrowing Basein effect at such time, (ii) Adjusted Projected Revolver Outstandings at such time, and PROVIDED FURTHER, that (iii) the Borrower shall not have the right amount approved to request any be borrowed by way of Revolving Credit Loans hereunder unless and Letters of Credit in the principal amounts Interim Order or the Final Order, whichever is then outstanding under the UK Facility (including the maximum amount available to be drawn under letters of credit and other collateral instruments issued under such facility) are equal to or greater than (pound)2,000,000in effect. The Revolving Credit Loans shall be made PRO RATA pro rata in accordance with each LenderBank's Revolving Credit Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrower that the conditions set forth in SECTIONS 12 ss.14 and 13 hereofss.15, in the case of the initial Revolving Credit Loans to be made on the Closing Date, and SECTION 13ss.15, in the case of all other Revolving Credit Loans, have been satisfied on the date of such request.
Appears in 1 contract
Sources: Debtor in Possession Revolving Credit and Term Loan Agreement (Hvide Marine Inc)
Commitment to Lend. Subject to the terms and conditions set forth in this Credit Agreement, each of the Lenders Banks severally agrees to lend to the Borrower and the Borrower may borrow, repay, repay and reborrow from time to time from between the Closing Date until and the Maturity Date, Date upon notice by the Borrower to the Agent given in accordance with SECTION 2.6 hereofSection 2.6, such sums as are requested by the Borrower up to a maximum aggregate amount outstanding (after giving effect to all amounts requested) at any one time equal to such LenderBank's Revolving Credit Commitment MINUS minus such LenderBank's Revolving Credit Commitment Percentage of the sum of (i) the Maximum Drawing Amount and Amount, (ii) all Unpaid Reimbursement ObligationsObligations and (iii) the aggregate principal amount of all Swing Line Loans; PROVIDED provided that the sum of the outstanding amount of the Revolving Credit Loans (after giving effect to all amounts requested) PLUS plus the Maximum Drawing Amount and Amount, all Unpaid Reimbursement Obligations and the aggregate principal amount of all Swing Line Loans shall not at any time exceed the lesser of the Total Commitment and the Borrowing Base, and PROVIDED FURTHER, that the Borrower shall not have the right to request any Revolving Credit Loans hereunder unless the principal amounts then outstanding under the UK Facility (including the maximum amount available to be drawn under letters of credit and other collateral instruments issued under such facility) are equal to or greater than (pound)2,000,000Commitment. The Revolving Credit Loans shall be made PRO RATA pro rata in accordance with each LenderBank's Revolving Credit Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrower that the conditions set forth in SECTIONS 12 Section 15 and 13 hereofSection 16, in the case of the initial Revolving Credit Loans to be made on the Closing Date, and SECTION 13Section 16, in the case of all other Revolving Credit Loans, have been satisfied on the date of such request.
Appears in 1 contract
Sources: Revolving Credit and Term Loan Agreement (Mercury Air Group Inc)
Commitment to Lend. Subject to the terms and conditions set forth in this Credit Agreement, each of the Lenders Banks severally agrees to lend to the Borrower and the Borrower may borrow, repay, and reborrow from time to time from between the Closing Date until and the Maturity Date, Date upon notice by the Borrower to the Managing Agent given in accordance with SECTION 2.6 Section 2.4 hereof, such sums as are requested by the Borrower up to a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to the Tranche A Commitment Amount minus the sum of (a) the Maximum Drawing Amount plus (b) all Unpaid Reimbursement Obligations plus (c) prior to the WQCD Closing Date, the Net WQCD Acquisition amount; provided that, with respect to each Bank, the sum of the outstanding amount of the Tranche A Loans (after giving effect to all amounts requested) made by such Lender's Commitment MINUS Bank plus such LenderBank's Commitment Percentage of the sum of the Maximum Drawing Amount and all Unpaid Reimbursement Obligations; PROVIDED that the sum of the outstanding amount of the Revolving Credit Loans (after giving effect to all amounts requested) PLUS the Maximum Drawing Amount and all Unpaid Reimbursement unpaid reimbursement Obligations shall not at any time exceed the lesser such Bank's Commitment Percentage of the Total Tranche A Commitment and the Borrowing Base, and PROVIDED FURTHER, that the Borrower shall not have the right to request any Revolving Credit Loans hereunder unless the principal amounts then outstanding under the UK Facility (including the maximum amount available to be drawn under letters of credit and other collateral instruments issued under such facility) are equal to or greater than (pound)2,000,000Amount. The Revolving Credit Tranche A Loans shall be made PRO RATA by each Bank pro rata in accordance with each LenderBank's applicable Commitment Percentage. Each request for a Revolving Credit Tranche A Loan hereunder shall constitute a representation and warranty by the Borrower that the conditions set forth in SECTIONS 12 and 13 hereof, in the case of the initial Revolving Credit Loans to be made on the Closing Date, and SECTION 13, in the case of all other Revolving Credit Loans, have been satisfied on the date of such request.shall
Appears in 1 contract
Sources: Revolving Credit and Term Loan Agreement (Emmis Broadcasting Corporation)
Commitment to Lend. Subject to the terms and conditions set forth in this Credit Agreement, each of the Lenders severally agrees to lend to the Borrower Borrower, and the Borrower may borrow, repay, and reborrow from time to time from the Closing Date until up to but not including the Revolving Credit Loan Maturity Date, Date upon notice by the Borrower to the Administrative Agent given in accordance with SECTION 2.6 hereofSection 2.6, such sums as are requested by the Borrower up to a maximum aggregate amount outstanding (after giving effect to all amounts requested) at any one time equal to such Lender's Commitment MINUS such Lender's Commitment Percentage of the sum of the Maximum Drawing Amount and all Unpaid Reimbursement Obligations; , PROVIDED that the sum of the outstanding amount of the Revolving Credit Loans (after giving effect to all amounts requested) PLUS the Maximum Drawing Amount and all Unpaid Reimbursement Obligations shall not at any time exceed the lesser of the Total Commitment and the Borrowing Base, and PROVIDED FURTHER, that the Borrower shall not have the right to request any Revolving Credit Loans hereunder unless the principal amounts then outstanding under the UK Facility (including the maximum amount available to be drawn under letters of credit and other collateral instruments issued under at such facility) are equal to or greater than (pound)2,000,000time. The Revolving Credit Loans shall be made PRO RATA in accordance with each Lender's Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrower that the conditions set forth in SECTIONS 12 Section 11 and 13 hereofSection 12, in the case of the initial Revolving Credit Loans to be made on the Closing Date, and SECTION 13Section 12, in the case of all other Revolving Credit Loans, have been satisfied on the date of such request.
Appears in 1 contract
Sources: Revolving Credit Agreement (Friendly Ice Cream Corp)
Commitment to Lend. Subject to the terms and conditions set forth in this Credit Agreement, each of the Lenders Banks severally agrees to lend to the Borrower and the Borrower may borrow, repay, and reborrow from time to time from between the Closing Date until and the Revolving Credit Loan Maturity Date, Date upon notice by the Borrower to the Agent given in accordance with SECTION 2.6 hereofsec.2.7, such sums as are requested by the Borrower up to a maximum aggregate amount outstanding (after giving effect to all amounts requested) at any one time equal to such LenderBank's Commitment MINUS the amount by which the Swing Line Loans outstanding at such Lendertime shall be deemed to have used such Bank's Commitment pursuant to sec.2.10 hereof, MINUS such Bank's Commitment Percentage of the sum of the Maximum Drawing Amount and all Unpaid Reimbursement Obligations; , PROVIDED that the sum of the outstanding amount of the Revolving Credit Loans (after giving effect to all amounts requested) PLUS the outstanding amount of the Swing Line Loans, PLUS the Maximum Drawing Amount and all Unpaid Reimbursement Obligations shall not at any time exceed the lesser of the Total Commitment and the Borrowing Base, and PROVIDED FURTHER, that the Borrower shall not have the right to request any Revolving Credit Loans hereunder unless the principal amounts then outstanding under the UK Facility (including the maximum amount available to be drawn under letters of credit and other collateral instruments issued under such facility) are equal to or greater than (pound)2,000,000Commitment. The Revolving Credit Loans shall be made PRO RATA in accordance with each LenderBank's Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrower that the conditions set forth in SECTIONS 12 sec.12 and 13 hereofsec.13, in the case of the initial Revolving Credit Loans to be made on the Closing Date, and SECTION 13sec.13, in the case of all other Revolving Credit Loans, have been satisfied on the date of such request.
Appears in 1 contract
Sources: Revolving Credit and Term Loan Agreement (Dynatech Corp)
Commitment to Lend. Subject to the terms and conditions set forth in ------------------ this Credit AgreementAgreement (including, but not limited to those requirements set forth in (S)2.6 below), each of the Lenders Banks severally agrees to lend to the Borrower and the Borrower may borrow, repay, and reborrow from time to time from between the Closing Date until and the Revolving Credit Loan Maturity Date, Date upon notice by the Borrower to the Agent given in accordance with SECTION 2.6 hereof(S)2.6, such sums as are requested by the Borrower up to a maximum aggregate amount outstanding (after giving effect to all amounts requested) at any one time equal to such LenderBank's Commitment MINUS minus such LenderBank's Commitment Percentage of the sum of the Maximum Drawing Amount and all Unpaid Reimbursement Obligations; PROVIDED , provided that the sum of the outstanding amount of the Revolving Credit Loans (after giving effect to all amounts requested) PLUS plus the Maximum Drawing Amount and all Unpaid Reimbursement Obligations shall not at any time exceed the lesser of the Total Commitment and the Borrowing Base, and PROVIDED FURTHER, that the Borrower shall not have the right to request any Revolving Credit Loans hereunder unless the principal amounts then outstanding under the UK Facility (including the maximum amount available to be drawn under letters of credit and other collateral instruments issued under such facility) are equal to or greater than (pound)2,000,000Commitment. The Revolving Credit Loans shall be made PRO RATA pro rata in accordance with each LenderBank's Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrower that the conditions set forth in SECTIONS 12 (S)11 and 13 hereof(S)12, in the case of the initial Revolving Credit Loans to be made on the Closing Date, and SECTION 13(S)12, in the case of all other Revolving Credit Loans, have been satisfied on the date of such request. Notwithstanding anything to the contrary contained herein, the Borrower shall not be permitted to borrow Revolving Credit Loans after June 17, 2000 to finance any portion of a Permitted Acquisition.
Appears in 1 contract
Commitment to Lend. Subject to the terms and conditions set forth in this Credit Agreement, each of the Lenders severally agrees to lend to the Borrower Borrowers, or either of them, and the Borrower Borrowers, or either of them, may borrow, repay, and reborrow from time to time from between the Closing Date until and the Maturity Date, Date upon notice by the Borrower Borrowers, or either of them, to the Agent given in accordance with SECTION 2.6 hereofSection 2.6, such sums as are requested by the Borrower Borrowers, or either of them, up to a maximum aggregate amount outstanding (after giving effect to all amounts requested) at any one time equal to such Lender's Commitment MINUS minus such Lender's Commitment Percentage of the sum of the Maximum Drawing Amount and all Unpaid Reimbursement Obligations; PROVIDED , provided that the sum of the outstanding amount of the Revolving Credit Loans (after giving effect to all amounts requested) PLUS plus the Maximum Drawing Amount and all Unpaid Reimbursement Obligations shall not at any time exceed the lesser of (i) the Total Commitment and (ii) the Borrowing Base, and PROVIDED FURTHER, that the Borrower shall not have the right to request any Revolving Credit Loans hereunder unless the principal amounts then outstanding under the UK Facility (including the maximum amount available to be drawn under letters of credit and other collateral instruments issued under such facility) are equal to or greater than (pound)2,000,000. The Revolving Credit Loans shall be made PRO RATA pro rata in accordance with each Lender's Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrower Borrowers that the conditions set forth in SECTIONS 12 Section 11 and 13 hereofSection 12, in the case of the initial Revolving Credit Loans to be made on the Closing Date, and SECTION 13Section 12, in the case of all other Revolving Credit Loans, have been satisfied on the date of such request.
Appears in 1 contract
Commitment to Lend. Subject to the terms and conditions set forth in this Credit Agreement, each of the Lenders severally agrees to lend to the Borrower and the Borrower may borrow, repay, and reborrow from time to time from the Closing Date until up to but not including the Maturity Date, Date upon notice by the Borrower to the Administrative Agent given in accordance with SECTION 2.6 hereof§2.6, such sums as are requested by the Borrower up to a maximum aggregate amount outstanding (after giving effect to all amounts requested) at any one time equal to such Lender's ’s Commitment MINUS minus such Lender's ’s Commitment Percentage of the sum of the Maximum Drawing Amount and all Unpaid Reimbursement Obligations; PROVIDED , provided that the sum of the outstanding amount of the Revolving Credit Loans (after giving effect to all amounts requested) PLUS plus Swing Line Loans plus the Maximum Drawing Amount and all Unpaid Reimbursement Obligations shall not at any time exceed the lesser of (i) the Total Commitment at such time and (ii) the Borrowing Base, and PROVIDED FURTHER, that Base at such time. The Commitment of each Lender pursuant to this Agreement shall come into effect on the Borrower shall not have the right to request any Revolving Credit Loans hereunder unless the principal amounts then outstanding under the UK Facility (including the maximum amount available to be drawn under letters of credit and other collateral instruments issued under such facility) are equal to or greater than (pound)2,000,000Closing Date. The Revolving Credit Loans shall be made PRO RATA pro rata in accordance with each Lender's ’s Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrower that the conditions set forth in SECTIONS 12 §11 and 13 hereof§12, in the case of the initial Revolving Credit Loans to be made on the Closing Date, and SECTION 13§12, in the case of all other Revolving Credit Loans, have been satisfied on the date of such request.
Appears in 1 contract
Sources: Revolving Credit Agreement (SeaCube Container Leasing Ltd.)
Commitment to Lend. Subject to the terms and conditions set forth in this Credit Agreement, each of the Lenders Banks severally agrees to lend to the Borrower Borrowers as joint and several borrowers, and the Borrower Borrowers may on a joint and several basis borrow, repay, and reborrow reborrow, from time to time from the Closing Date until up to but not including the Maturity Date, Termination Date upon notice by the Borrower Borrowers to the Administrative Agent given in accordance with SECTION 2.6 hereofss.2.6, such sums as are requested by the Borrower Borrowers up to a maximum aggregate amount outstanding (after giving effect to all amounts requested) at any one time equal to such LenderBank's Commitment MINUS such LenderBank's Commitment Percentage of the sum of the Maximum Drawing Amount of all Letters of Credit and all Unpaid Reimbursement Obligations; , PROVIDED that the sum of the outstanding amount of the Revolving Credit Loans (after giving effect to all amounts requested) PLUS the Maximum Drawing Amount of all Letters of Credit and all Unpaid Reimbursement Obligations shall not at any time exceed the lesser least of (i) the Total Commitment and in effect at such time MINUS the Commitment Reserve, (ii) the Borrowing Base, Base and PROVIDED FURTHER, that (iii) the Borrower shall not have the right to request any Revolving Credit Loans hereunder unless the principal amounts then outstanding under the UK Facility (including the maximum amount available approved to be drawn under letters borrowed by way of credit Loans and other collateral instruments issued under such facility) are equal to Letters of Credit in the Interim Order or greater than (pound)2,000,000the Final Order, whichever is then in effect. The Revolving Credit Loans shall be made PRO RATA in accordance with each LenderBank's Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by each of the Borrower Borrowers that the conditions set forth in SECTIONS 12 ss.13 and 13 hereofss.14, in the case of the initial Revolving Credit Loans to be made on the Closing Date, and SECTION 13ss.14, in the case of all other Revolving Credit Loans, have been satisfied on the date of such request.
Appears in 1 contract
Commitment to Lend. Subject to the terms and conditions set forth in this Credit AgreementAgreement (including, without limitation, Section 2.11 hereof), each of the Lenders Bank Lender and each Lender Group severally agrees to lend to the Borrower Borrower, and the Borrower may borrow, repay, and reborrow from time to time from the Closing Date until to (but not including) the Maturity Date, Conversion Date upon notice by the Borrower to the Administrative Agent (with a copy to each Interest Rate Hedge Provider) given in accordance with SECTION 2.6 hereofSection 2.7, such sums as are requested by the Borrower up to a maximum aggregate amount outstanding (after giving effect to all amounts requested) at any one time equal to such Lender's Commitment MINUS such Lender's Commitment Percentage of the sum of the Maximum Drawing Amount and all Unpaid Reimbursement Obligations; PROVIDED Borrower, provided that the sum of the outstanding unpaid principal amount of the Revolving all Credit Loans (after giving effect to all amounts requested) PLUS the Maximum Drawing Amount and all Unpaid Reimbursement Obligations shall not at any time exceed the lesser of (i) the Total Commitment at such time and (ii) the Borrowing Base, Base at such time and PROVIDED FURTHER, provided further that the Conduit Lender in such Lender Group may, in its sole discretion, make a Loan to the Borrower shall not have the right to request any Revolving Credit Loans hereunder unless the in a principal amounts then outstanding under the UK Facility (including the maximum amount available to be drawn under letters of credit and other collateral instruments issued under such facility) are equal to or greater than (pound)2,000,000its Lender Group Percentage of such requested Loan; it being understood and agreed that, at no time will a Conduit Lender have any obligation to make any Loan; and if such Conduit Lender declines to make any such Loan, the Bank Lenders in such Lender Group shall make Loans in an aggregate principal amount equal to the related Lender Group Percentage of such requested Credit Loan. The Revolving Credit Loans shall be made PRO RATA pro rata in accordance with each Lender's Commitment Lender Group’s Lender Group Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrower that the conditions set forth in SECTIONS Section 12 and 13 hereof, in the case of the initial Revolving Credit Loans to be made on the Closing Date, and SECTION 13, in the case of all other Revolving Credit Loans, have been satisfied on the date of such request.
Appears in 1 contract
Commitment to Lend. Subject to the provisions of ss.2.5 and the other terms and conditions set forth in this Credit Agreement, each of the Lenders severally agrees to lend to the Borrower and the Borrower may borrow, repay, and reborrow from each Lender from time to time from the Closing Date until up to but not including the Maturity Date, Date upon notice by the Borrower to the Administrative Agent given in accordance with SECTION 2.6 ss.2.5 hereof, such sums as are requested by the Borrower up to a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to such Lender's Commitment MINUS minus such Lender's Commitment Percentage of the sum of the Maximum Drawing Amount and all Unpaid Reimbursement ObligationsAmount; PROVIDED provided that the sum of the outstanding amount of the Revolving Credit Loans (after giving effect to all amounts requested) PLUS and the Competitive Bid Loans plus the Maximum Drawing Amount and all Unpaid Reimbursement Obligations shall not at any time exceed the lesser of the Total Commitment and the Borrowing Base, and PROVIDED FURTHER, that the Borrower shall not have the right to request any Revolving Credit Loans hereunder unless the principal amounts then outstanding under the UK Facility (including the maximum amount available to be drawn under letters of credit and other collateral instruments issued under in effect at such facility) are equal to or greater than (pound)2,000,000time. The Revolving Credit Loans shall be made PRO RATA pro rata in accordance with each Lender's Commitment Percentage. Each request for a Revolving Credit Loan hereunder made pursuant to ss.2.5 hereof shall constitute a representation and warranty by the Borrower that the conditions set forth in SECTIONS 12 and 13 hereof, in the case ss.10 have been satisfied as of the initial Revolving Credit Loans to be made on Closing Date and that the Closing Date, and SECTION 13, conditions set forth in the case of all other Revolving Credit Loans, ss.11 have been satisfied on the date of such request.request and will be satisfied on the proposed Drawdown Date of the requested Revolving Credit Loan, provided that the making of such representation and warranty by the Borrower shall not limit the right of any Lender not to lend if such conditions have not been met. No Revolving Credit Loan shall be required to be made by any Lender unless all of the conditions 397
Appears in 1 contract