Common use of Commitments and Loans Clause in Contracts

Commitments and Loans. (a) Subject to and upon the terms and conditions herein set forth, each Initial Lender severally (and not jointly) agrees on the Closing Date to make a loan or loans denominated in Dollars (each an “Initial Loan”) to the Borrower in an amount equal to such Initial Lender’s Initial Commitment, which Initial Loans may, at the option of the Borrower, be incurred and maintained as, and/or converted into, ABR Loans or Eurodollar Loans in accordance with the provisions hereof; provided that all Initial Loans made by each of the Initial Lenders pursuant to the same Borrowing shall, unless otherwise specifically provided herein, consist entirely of Initial Loans of the same Type. Amounts paid or prepaid in respect of Initial Loans may not be reborrowed. (b) Each Lender may at its option make any Eurodollar Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan; provided that (A) any exercise of such option shall not affect (1) the obligation of the Borrower to repay such Loan or (2) the obligations, duties and rights of such Lender hereunder and (B) in exercising such option and without limiting the rights of the Borrower under Section 2.10 and 5.4 in respect of any increased costs to it, such Lender shall use its reasonable efforts to minimize any increased costs to the Borrower resulting therefrom (which obligation of the Lender shall not require it to take, or refrain from taking, actions that it determines would result in increased costs for which it will not be compensated hereunder or that it determines would be otherwise disadvantageous to it).

Commitments and Loans. (a) Subject to and upon the terms and conditions herein set forthhereof, each Initial Lender severally (and not jointly) agrees on the Closing Date to make from time to time on any Borrowing Date a loan or loans denominated in Dollars (each an “Initial Loan”) Loan to the Borrower in an amount equal to such Initial Lender’s Initial Commitment, which Initial Loans may, at the option of the Borrower, be incurred and maintained as, and/or converted into, ABR Loans or Eurodollar Loans in accordance with the provisions hereof; provided that all Initial Loans made by each of the Initial Lenders pursuant to the same Borrowing shall, unless otherwise specifically provided herein, consist entirely of Initial Loans of the same Type. Amounts paid or prepaid in respect of Initial Loans may not be reborrowed. (b) Each Lender may at its option make any Eurodollar Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan; provided that (A) there shall be no more than two Borrowing Dates (excluding any exercise of such option shall not affect (1) the obligation of the Borrower to repay such Loan or (2) the obligationsAdditional Loans), duties and rights of such Lender hereunder and (B) in exercising the aggregate principal amount of each Lender’s Loans (excluding any Additional Loans) shall not exceed such option Lender’s Commitment and without limiting (C) the rights aggregate principal amount of all Loans (excluding any Additional Loans) outstanding shall not exceed the Borrower Maximum Loan Amount. Any amounts borrowed and repaid or prepaid may not be reborrowed. If at any time after the Closing Date any demand, any claim or any request for any payment is made under Section 2.10 and 5.4 or in respect of any increased costs Payment Guaranty and such demand, claim or request shall not have been satisfied in full within five Business Days after such demand, claim or request is made, the Lenders shall have the right (in their sole discretion and in accordance with their Aggregate Exposure Percentage) to it, such Lender shall use its reasonable efforts elect to minimize any increased costs to cause the Borrower resulting therefrom to borrow additional Loans hereunder (any such additional Loans, the “Additional Loans”), the proceeds of which obligation shall be used by the Borrower (together with any other available funds) within one Business Day following receipt of such proceeds to satisfy in full such demand, claim or request. Except as otherwise expressly set forth in this Agreement, the terms of the Lender Additional Loans shall not require it be identical in all respects to take, or refrain from taking, actions that it determines would result in increased costs for which it will not be compensated hereunder or that it determines would be otherwise disadvantageous to it)all other Loans made hereunder.

Commitments and Loans. (a) Subject to and upon the terms and conditions herein set forthhereof, each Initial Lender severally (and not jointly) agrees on the Closing Date to make from time to time on any Borrowing Date a loan or loans denominated in Dollars (each an “Initial Loan”) Loan to the Borrower in an amount equal to such Initial Lender’s Initial Commitment, which Initial Loans may, at the option of the Borrower, be incurred and maintained as, and/or converted into, ABR Loans or Eurodollar Loans in accordance with the provisions hereof; provided that all Initial Loans made by each of the Initial Lenders pursuant to the same Borrowing shall, unless otherwise specifically provided herein, consist entirely of Initial Loans of the same Type. Amounts paid or prepaid in respect of Initial Loans may not be reborrowed. (b) Each Lender may at its option make any Eurodollar Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan; provided that (A) there shall be no more than three Borrowing Dates (excluding any exercise of such option shall not affect (1) the obligation of the Borrower to repay such Loan or (2) the obligationsAdditional Loans), duties and rights of such Lender hereunder and (B) in exercising the aggregate principal amount of each Lender’s Loans (excluding any Additional Loans and PIK Amounts) shall not exceed such option Lender’s Commitment and without limiting (C) the rights aggregate principal amount of all Loans (excluding any Additional Loans and PIK Amounts) outstanding shall not exceed the Borrower Maximum Loan Amount. Any amounts borrowed and repaid or prepaid may not be reborrowed. If at any time after the Closing Date any demand, any claim or any request for any payment is made under Section 2.10 and 5.4 or in respect of any increased costs Payment Guaranty and such demand, claim or request shall not have been satisfied in full within five Business Days after such demand, claim or request is made, the Lenders shall have the right (in their sole discretion and in accordance with their Aggregate Exposure Percentage) to it, such Lender shall use its reasonable efforts elect to minimize any increased costs to cause the Borrower resulting therefrom to borrow additional Loans hereunder (any such additional Loans, the “Additional Loans”), the proceeds of which obligation shall be used by the Borrower (together with any other available funds) within one Business Day following receipt of such proceeds to satisfy in full such demand, claim or request. Except as otherwise expressly set forth in this Agreement, the terms of the Lender Additional Loans shall not require it be identical in all respects to take, or refrain from taking, actions that it determines would result in increased costs for which it will not be compensated hereunder or that it determines would be otherwise disadvantageous to it)all other Loans made hereunder.

Commitments and Loans. Prior to the Effective Date, certain revolving loans were made to the Parent under the Existing Credit Agreement which remain outstanding as of the date of this Agreement (a) such outstanding revolving loans being hereinafter referred to as the “Existing Loans”). Subject to and upon the terms and conditions herein set forthforth in this Agreement, the Parent and each of the Lenders agree that on the Effective Date but subject to the reallocation and other transactions described in Section 1.06, the Existing Loans shall be reevidenced as Revolving Loans under this Agreement and the terms of the Existing Loans shall be restated in their entirety and shall be evidenced by this Agreement. Subject to the terms and conditions set forth herein, each Initial Lender (severally (and not jointly) agrees on the Closing Date to make a loan Revolving Loans to the Borrowers in Agreed Currencies from time to time during the Availability Period in an aggregate principal amount that will not result in (i) subject to Sections 2.04 and 2.11(b), the Dollar Amount of such Lender’s Revolving Credit Exposure exceeding such Lender’s Commitment, (ii) subject to Sections 2.04 and 2.11(b), the sum of the Dollar Amount of the total Revolving Credit Exposures exceeding the Aggregate Commitment or loans (iii) subject to Sections 2.04 and 2.11(b), the Dollar Amount of the total outstanding Revolving Loans and LC Exposure, in each case denominated in Dollars (each an “Initial Loan”) Foreign Currencies, exceeding the Foreign Currency Sublimit. Within the foregoing limits and subject to the Borrower in an amount equal to such Initial Lender’s Initial Commitment, which Initial Loans may, at the option of the Borrower, be incurred terms and maintained as, and/or converted into, ABR Loans or Eurodollar Loans in accordance with the provisions hereof; provided that all Initial Loans made by each of the Initial Lenders pursuant to the same Borrowing shall, unless otherwise specifically provided conditions set forth herein, consist entirely of Initial Loans of the same Type. Amounts paid or prepaid in respect of Initial Loans Borrowers may not be reborrowedborrow, prepay and reborrow Revolving Loans. (b) Each Lender may at its option make any Eurodollar Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan; provided that (A) any exercise of such option shall not affect (1) the obligation of the Borrower to repay such Loan or (2) the obligations, duties and rights of such Lender hereunder and (B) in exercising such option and without limiting the rights of the Borrower under Section 2.10 and 5.4 in respect of any increased costs to it, such Lender shall use its reasonable efforts to minimize any increased costs to the Borrower resulting therefrom (which obligation of the Lender shall not require it to take, or refrain from taking, actions that it determines would result in increased costs for which it will not be compensated hereunder or that it determines would be otherwise disadvantageous to it).

Commitments and Loans. Prior to the Effective Date, certain revolving loans were made to the Parent under the Existing Credit Agreement which remain outstanding as of the date of this Agreement (a) such outstanding revolving loans being hereinafter referred to as the “Existing Loans”). Subject to and upon the terms and conditions herein set forthforth in this Agreement, the Parent and each of the Lenders agree that on the Effective Date but subject to the reallocation and other transactions described in Section 1.07, the Existing Loans shall be reevidenced as Revolving Loans under this Agreement and the terms of the Existing Loans shall be restated in their entirety and shall be evidenced by this Agreement. Subject to the terms and conditions set forth herein, each Initial Lender (severally (and not jointly) agrees on the Closing Date to make a loan Revolving Loans to the Borrowers in Agreed Currencies from time to time during the Availability Period in an aggregate principal amount that will not result in (i) subject to Sections 2.04 and 2.11(b), the Dollar Amount of such Lender’s Revolving Credit Exposure exceeding such Lender’s Commitment, (ii) subject to Sections 2.04 and 2.11(b), the Dollar Amount of the Total Revolving Credit Exposure exceeding the Aggregate Commitment or loans (iii) subject to Sections 2.04 and 2.11(b), the Dollar Amount of the total outstanding Revolving Loans and LC Exposure, in each case denominated in Dollars (each an “Initial Loan”) Foreign Currencies, exceeding the Foreign Currency Sublimit. Within the foregoing limits and subject to the Borrower in an amount equal to such Initial Lender’s Initial Commitment, which Initial Loans may, at the option of the Borrower, be incurred terms and maintained as, and/or converted into, ABR Loans or Eurodollar Loans in accordance with the provisions hereof; provided that all Initial Loans made by each of the Initial Lenders pursuant to the same Borrowing shall, unless otherwise specifically provided conditions set forth herein, consist entirely of Initial Loans of the same Type. Amounts paid or prepaid in respect of Initial Loans Borrowers may not be reborrowedborrow, prepay and reborrow Revolving Loans. (b) Each Lender may at its option make any Eurodollar Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan; provided that (A) any exercise of such option shall not affect (1) the obligation of the Borrower to repay such Loan or (2) the obligations, duties and rights of such Lender hereunder and (B) in exercising such option and without limiting the rights of the Borrower under Section 2.10 and 5.4 in respect of any increased costs to it, such Lender shall use its reasonable efforts to minimize any increased costs to the Borrower resulting therefrom (which obligation of the Lender shall not require it to take, or refrain from taking, actions that it determines would result in increased costs for which it will not be compensated hereunder or that it determines would be otherwise disadvantageous to it).

Commitments and Loans. (a) Subject to and upon the terms and conditions herein of this Agreement and in reliance upon the representations and warranties of Borrower set forthforth in this Agreement and in the Loan Documents, each Initial Lender severally (agrees to make Loans to Borrower and not jointly) agrees on to issue Letters of Credit for the Closing account of the Borrower from time to time during the period from the Effective Date to make a loan or loans denominated in Dollars (each an “Initial Loan”) to but excluding the Borrower Termination Date, in an aggregate amount equal outstanding at any time not exceeding its Pro Rata Share of the aggregate amount of the Commitments, to such Initial be used for the purposes identified in Section 5.12. The original amount of each Lender’s Initial CommitmentCommitment is set forth opposite its name on Schedule “1” annexed hereto, which Initial Loans may, at and the option aggregate original amount of the Borrower, be incurred and maintained as, and/or converted into, ABR Loans or Eurodollar Loans in accordance with the provisions hereofCommitments is $30,000,000.00; provided that all Initial Loans made by the individual Commitment of each Lender shall be adjusted to give effect to any assignments of the Initial Lenders Commitments pursuant to subsection 9.1B; and provided, further that the same Borrowing shall, unless otherwise specifically provided herein, consist entirely of Initial Loans amount of the same TypeCommitments shall be reduced from time to time by the amount of any reductions thereto made pursuant to subsection 2.4A(ii). Amounts paid or prepaid in Each Lender’s Commitment shall expire on the Termination Date, and all Loans and all other amounts owed hereunder with respect of Initial to the Loans may not be reborrowed. (b) Each Lender may at its option make any Eurodollar Loan by causing any domestic or foreign branch or Affiliate and with respect to the Commitment of such Lender to make such Loan; provided that (A) any exercise of such option Lender, shall not affect (1) be paid in full no later than the obligation of the Borrower to repay such Loan or (2) the obligations, duties and rights of such Lender hereunder and (B) in exercising such option and without limiting the rights of the Borrower under Section 2.10 and 5.4 in respect of any increased costs to it, such Lender shall use its reasonable efforts to minimize any increased costs Termination Date. Subject to the Borrower resulting therefrom (which obligation provisions of Section 7, amounts borrowed under this subsection 2.1A may be repaid and re-borrowed to but excluding the Lender Termination Date. Anything contained in this Agreement to the contrary notwithstanding, the Loans and the Commitments shall not require it be subject to take, or refrain from taking, actions the limitation that it determines would result in increased costs for which it will not no event shall the Principal Balance at any time exceed the total Commitments then in effect. All Loans shall be compensated hereunder or that it determines would be otherwise disadvantageous to it)denominated and funded in Dollars.