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Subject to the terms and conditions set forth herein, each Lender severally agrees to make loans (each such loan, a \u201cRevolving Credit Loan\u201d) to the Borrower from time to time, on any Business Day during the Availability Period, in an aggregate amount not to exceed at any time outstanding the amount of such Lender\u2019s Commitment; provided, however, that after giving effect to any Revolving Credit Borrowing, (i) the Total Outstandings shall not exceed the Borrowing Base, and (ii) the aggregate Outstanding Amount of the Revolving Credit Loans of any Lender, plus such Lender\u2019s Applicable Percentage of the Outstanding Amount of all L/C Obligations, plus such Lender\u2019s Applicable Percentage of the Outstanding Amount of all Swing Line Loans shall not exceed such Lender\u2019s Commitment. Within the limits of the Borrowing Base, and subject to the other terms and conditions hereof, the Borrower may borrow under this Section 2.01, prepay under Section 2.05, and reborrow under this Section 2.01. Revolving Credit Loans may be Base Rate Loans or Eurodollar Rate Loans, as further provided herein; provided, however, any Revolving Credit Borrowings made on the Closing Date or any of the three (3) Business Days following the Closing Date shall be made as Base Rate Loans unless the Borrower delivers a funding indemnity letter acceptable to the Administrative Agent not less than three (3) Business Days prior to the date of such Revolving Credit Borrowing.", "samples": [{"hash": "5Q6Co4OmtLX", "uri": "/contracts/5Q6Co4OmtLX#commitments-and-credit-extensions", "label": "Credit Agreement (Basic Energy Services Inc)", "score": 26.3059539795, "published": true}], "snippet_links": [{"key": "the-loans", "type": "clause", "offset": [0, 9]}, {"key": "the-terms-and-conditions", "type": "definition", "offset": [22, 46]}, {"key": "each-lender", "type": "clause", "offset": [65, 76]}, {"key": "agrees-to", "type": "clause", "offset": [87, 96]}, {"key": "to-the-borrower", "type": "definition", 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2.03 [Reserved.] ...................................................................................................................... 33 2.04 [Reserved.] ...................................................................................................................... 33 2.05 Prepayments ................................................................................................................... 33 2.06 Termination or Reduction of Commitments ............................................................... 36 2.07", "samples": [{"hash": "cu9MxFo5c8g", "uri": "/contracts/cu9MxFo5c8g#commitments-and-credit-extensions", "label": "Second Lien Credit Agreement (Ameresco, Inc.)", "score": 33.4969215393, "published": true}], "snippet_links": [{"key": "conversions-and-continuations-of-loans", "type": "clause", "offset": [162, 200]}, {"key": "termination-or-reduction-of-commitments", "type": "clause", "offset": [670, 709]}], "hash": "ec04769c5794561786a48abb082c1e14", "id": 7}, 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During the Commitment Period,", "samples": [{"hash": "dMAkuTxebuq", "uri": "/contracts/dMAkuTxebuq#commitments-and-credit-extensions", "label": "Credit Agreement (Euronet Worldwide, Inc.)", "score": 31.8131408691, "published": true}], "snippet_links": [{"key": "revolving-commitments", "type": "definition", "offset": [21, 42]}, {"key": "during-the-commitment-period", "type": "clause", "offset": [44, 72]}], "hash": "faea9cd3737d25f445ed931026757b58", "id": 10}], "next_curs": "CmoSZGoVc35sYXdpbnNpZGVyY29udHJhY3RzckYLEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2Iipjb21taXRtZW50cy1hbmQtY3JlZGl0LWV4dGVuc2lvbnMjMDAwMDAwMGEMogECZW4YACAA", "clause": {"size": 436, "children": [["interest", "Interest"], ["fees", "Fees"], ["prepayments", "Prepayments"], ["repayment-of-loans", "Repayment of Loans"], ["evidence-of-debt", "Evidence of Debt"]], "parents": [["miscellaneous", "Miscellaneous"], ["waiver-of-jury-trial", "Waiver of Jury Trial"], ["entire-agreement", "Entire Agreement"], ["governing-law", "GOVERNING LAW"], ["counterparts", "Counterparts"]], "title": "Commitments and Credit Extensions", "id": "commitments-and-credit-extensions", "related": [["the-commitments-and-credit-extensions", "The Commitments and Credit Extensions", "The <strong>Commitments and Credit Extensions</strong>"], ["all-credit-extensions", "All Credit Extensions", "All Credit Extensions"], ["credit-extensions", "Credit Extensions", "Credit Extensions"], ["incremental-credit-extensions", "Incremental Credit Extensions", "Incremental Credit Extensions"], ["initial-credit-extension", "Initial Credit Extension", "Initial Credit Extension"]], "related_snippets": [], "updated": "2026-05-30T06:04:11+00:00", "also_ask": ["What are the minimum financial covenants required to protect the lender\u2019s interests?", "How can the clause be structured to allow flexibility for future credit extensions?", "What are the most common borrower negotiation tactics regarding commitment reductions or cancellations?", "Which events of default should automatically terminate commitments or credit extensions?", "How do courts typically interpret ambiguous language in commitment and credit extension clauses?"], "drafting_tip": "Specify the conditions for credit extensions to prevent disputes; define parties' commitments clearly to ensure enforceability; set limits on credit amounts to manage financial risk.", "explanation": "The 'Commitments and Credit Extensions' clause defines the lender's obligation to provide funds or credit to the borrower under the terms of the agreement. It typically outlines the maximum amount available, the conditions under which advances or loans may be requested, and any limitations or requirements for disbursement. This clause ensures both parties understand the scope and process for accessing credit, thereby providing clarity and predictability in the lending relationship."}, "json": true, "cursor": ""}}