Commitments of the Lenders. (a) Each Lender severally and not jointly with any other Lender, agrees, upon the terms and subject to the conditions herein set forth, to extend credit to the Borrowers on a revolving basis, in the form of Revolving Loans and Letters of Credit, in an amount not to exceed the lesser of such Lender’s Commitment or such Lender’s Commitment Percentage of the Borrowing Base, subject to the following limitations: (i) The aggregate outstanding amount of the Credit Extensions shall not at any time exceed the lesser of the Total Commitments or the Borrowing Base. (ii) No Lender, other than the Issuing Bank subject to the terms and conditions set forth herein, shall be obligated to issue any Letter of Credit, and Letters of Credit shall be available solely from the Issuing Bank, subject to the ratable participation of all Lenders, as set forth in Section 2.07. The Borrowers will not at any time permit the aggregate Letter of Credit Outstandings to exceed $30,000,000. (iii) Subject to all of the other provisions of this Agreement, Revolving Loans that are repaid may be reborrowed prior to the Termination Date and no new Credit Extensions shall be made to the Borrowers after the Termination Date. (b) Each Borrowing of Revolving Loans to the Borrowers (other than Swingline Loans) shall be made by the Lenders pro rata in accordance with their respective Commitments. The failure of any Lender to make any Revolving Loan to the Borrowers shall neither relieve any other Lender of its obligation to fund its Revolving Loan in accordance with the provisions of this Agreement nor increase the obligation of any other Lender.
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Commitments of the Lenders. (a) Each Lender Lender, severally and not jointly with any other Lender, agrees, upon the terms and subject to the conditions herein set forth, to extend credit to the Borrowers on a revolving basis, in the form of Revolving Loans and Letters of Credit, in an amount not to exceed the lesser of such Lender’s Commitment or such Lender’s Commitment Percentage of the Borrowing Base, subject to the following limitations:
(i) The After giving effect to any Credit Extension, the aggregate outstanding amount of the Credit Extensions shall not at any time exceed the lesser of (A) the Total Commitments minus the Borrowing Base Reserve or (B) the Borrowing Base.
(ii) No Lender, other than the Issuing Bank subject to the terms and conditions set forth herein, shall be obligated to issue any Letter of Credit, and Letters of Credit shall be available solely from the Issuing Bank, subject to the ratable participation of all Lenders, as set forth in Section 2.072.06. The Borrowers will not at any time permit the aggregate Letter of Credit Outstandings to exceed $30,000,00015,000,000.
(iii) Subject to all of the other provisions of this Agreement, Revolving Loans that are repaid may be reborrowed prior to the Termination Date Date, and no new Credit Extensions shall be made to the Borrowers after the Termination Date.
(b) Each Borrowing of Revolving Loans to the Borrowers (other than Swingline Loans) shall be made by the Lenders pro rata in accordance with their respective Commitments. The failure of any Lender to make any Revolving Loan to the Borrowers shall neither relieve any other Lender of its obligation to fund its Revolving Loan in accordance with the provisions of this Agreement nor increase the obligation of any other Lender.
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Commitments of the Lenders. (a) Each Lender severally and not jointly with any the other Lender, Lenders agrees, upon the terms and subject to the conditions herein set forthforth (including, without limitation, the provisions of Section 2.28), to extend make revolving credit loans (each a “Loan” and collectively, the “Loans”) to the Borrowers Borrower at any time and from time to time during the period commencing on a revolving basis, the date of satisfaction (or waiver) of the conditions set forth in Section 4.01 hereof and ending on the form of Revolving Loans and Letters of Credit, Termination Date in an aggregate principal amount not to exceed the lesser of such Lender’s Commitment or exceed, when added to such Lender’s Commitment Percentage of the Borrowing Base, subject to the following limitations:
(i) The aggregate outstanding amount of the Credit Extensions shall not at any time exceed the lesser of the Total Commitments or the Borrowing Base.
(ii) No Lender, other than the Issuing Bank subject to the terms and conditions set forth herein, shall be obligated to issue any Letter of Credit, and Letters of Credit shall be available solely from the Issuing Bank, subject to the ratable participation of all Lenders, as set forth in Section 2.07. The Borrowers will not at any time permit the then aggregate Letter of Credit Outstandings to exceed $30,000,000.
(iii) Subject to all in excess of the other amount of cash then held in the Letter of Credit Account pursuant to Section 2.03(b)), the Commitment of such Lender, which Loans may be repaid and reborrowed in accordance with the provisions of this Agreement; provided that no Loans shall be made at any time if there are any funds in the Escrow Account at such time. 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 $50,000,000, Revolving Loans that are repaid as the same may be reborrowed reduced from time to time pursuant to Section 2.10 and Section 2.13 and (ii) prior to the Termination Date and no new Credit Extensions shall be made to entry of the Borrowers after Final Order, the Termination Dateamount permitted by the Interim Order.
(b) Each Borrowing of Revolving Loans to the Borrowers (other than Swingline Loans) shall be made by the Lenders pro rata in accordance with their respective Commitments. The ; provided, however, that the failure of any Lender to make any Revolving Loan shall not in itself relieve the other Lenders of their obligations to the Borrowers shall neither relieve any other Lender of its obligation to fund its Revolving Loan in accordance with the provisions of this Agreement nor increase the obligation of any other Lenderlend.
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Commitments of the Lenders. (a) Each Lender severally and not jointly with any other Lender, agrees, upon the terms and subject to the conditions herein set forth, to extend credit to the Borrowers on a revolving basis, in the form of Revolving Loans and Letters of Credit, in an amount not to exceed the lesser of such Lender’s 's Commitment or such Lender’s 's Commitment Percentage of the Borrowing Base, subject to the following limitations:
(i) The aggregate outstanding amount of the Revolving Loans and Letter of Credit Extensions Outstandings shall not at any time exceed the lesser of (A) the Borrowing Base or (B) the Total Commitments or the Borrowing BaseCommitments.
(ii) No Lender, other than the Issuing Bank subject to the terms and conditions set forth herein, Lender shall be obligated to issue any Letter of Credit, and Letters of Credit shall be available solely from the Issuing Bank, subject to the ratable participation of all Lenders, as set forth in Section 2.07. The Borrowers will not at any time permit the aggregate Letter of Credit Outstandings to exceed $30,000,00020,000,000.
(iii) Subject to all of the other provisions of this Agreement, Revolving Loans that are repaid may be reborrowed prior to the Termination Date and no new Credit Extensions Extension shall be made to the Borrowers after the Termination Date.
(b) Each Borrowing of Revolving Loans to the Borrowers (other than Swingline Loans) shall be made by the Lenders pro rata in accordance with their respective Commitments. The failure of any Lender to make any Revolving Loan to the Borrowers shall neither relieve any other Lender of its obligation to fund its Revolving Loan in accordance with the provisions of this Agreement nor increase the obligation of any other Lender.
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Commitments of the Lenders. (a) Each Lender severally and not jointly with any the other Lender, Lenders agrees, upon the terms and subject to the conditions herein set forthforth (including, without limitation, the provisions of Section 2.28), to extend make revolving credit loans (each a "Loan" and collectively, the "Loans") to the Borrowers Borrower at any time and from time to time during the period commencing on a revolving basis, the date of satisfaction (or waiver) of the conditions set forth in Section 4.01 hereof and ending on the form of Revolving Loans and Letters of Credit, Termination Date in an aggregate principal amount not to exceed the lesser of exceed, when added to such Lender’s Commitment or such Lender’s 's Commitment Percentage of the Borrowing Base, subject to the following limitations:
(i) The aggregate outstanding amount of the Credit Extensions shall not at any time exceed the lesser of the Total Commitments or the Borrowing Base.
(ii) No Lender, other than the Issuing Bank subject to the terms and conditions set forth herein, shall be obligated to issue any Letter of Credit, and Letters of Credit shall be available solely from the Issuing Bank, subject to the ratable participation of all Lenders, as set forth in Section 2.07. The Borrowers will not at any time permit the then aggregate Letter of Credit Outstandings to exceed $30,000,000.
(iii) Subject to all in excess of the other provisions amount of this Agreementcash then held in the Letter of Credit Account pursuant to Section 2.03(b)), Revolving the Commitment of such Lender, which Loans that are repaid may be repaid and reborrowed prior to the Termination Date and no new Credit Extensions shall be made to the Borrowers after the Termination Date.
(b) Each Borrowing of Revolving Loans to the Borrowers (other than Swingline Loans) shall be made by the Lenders pro rata in accordance with their respective Commitments. The failure of any Lender to make any Revolving Loan to the Borrowers shall neither relieve any other Lender of its obligation to fund its Revolving Loan in accordance with the provisions of this Agreement nor increase Agreement; provided that no Loans shall be made at any time if there are any funds in the obligation Escrow Account at such time. At no time shall the sum of any other Lenderthe 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 $50,000,000, as the same may be reduced from time to time pursuant to Section 2.10 and Section 2.13 and (ii) prior to the entry of the Final Order, the amount permitted by the Interim Order.
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Sources: Revolving Credit and Guaranty Agreement (McLeodusa Inc)