Common use of Commitments to Lend Clause in Contracts

Commitments to Lend. (a) During the Revolving Credit Period each Bank severally agrees, on the terms and conditions set forth in this Agreement, to make loans in U.S. Dollars and/or one or more Designated Currencies (at the option of the Borrower) to the Borrower pursuant to this Section from time to time in amounts such that (i) the U.S. Dollar Equivalent of the aggregate principal amount of Loans by such Bank at any one time outstanding shall not exceed the amount of its Commitment and (ii) the aggregate U.S. Dollar Equivalent of the outstanding Loans of all the Banks denominated in Foreign Currencies shall not exceed $450,000,000. Each Borrowing under this Section shall be in an aggregate principal amount that is a multiple of the Borrowing Multiple and at least equal to the Borrowing Minimum (except that any such Borrowing may be in the aggregate amount of the unused Commitments) and shall be made from the several Banks ratably in proportion to their respective Commitments. Within the foregoing limits, the Borrower may borrow under this Section, repay, or to the extent permitted by Section 2.09, prepay Loans and reborrow at any time during the Revolving Credit Period under this Section.

Appears in 2 contracts

Samples: Conformed Copy (Armstrong World Industries Inc), Credit Agreement (Armstrong World Industries Inc)

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Commitments to Lend. (a) During the Revolving Credit Period Availability Period, each Dollar Revolving Bank severally agrees, on the terms and conditions set forth in this Agreement, to make loans Committed Revolving Loans in U.S. Dollars and/or one to any Borrower or more Designated Currencies (at the option of the Borrower) to the any Additional Borrower pursuant to this Section 2.1(a) from time to time in amounts such that (i) the U.S. Dollar Equivalent Revolving Exposure of the aggregate principal amount of Loans by such Bank at any one time outstanding shall not exceed the amount of its Commitment and (ii) the aggregate U.S. Dollar Equivalent of the outstanding Loans of all the Banks denominated in Foreign Currencies shall not exceed $450,000,000Revolving Commitment. Each Committed Revolving Borrowing under this Section 2.1(a) shall be in an aggregate principal amount that is a of $10,000,000 or any larger multiple of the Borrowing Multiple and at least equal to the Borrowing Minimum $1,000,000 (except that any such Borrowing may be in the aggregate amount of the unused Commitmentsavailable in accordance with Section 3.2(b)) and shall be made from the several Dollar Revolving Banks ratably in proportion to their respective Available Dollar Revolving Commitments. Within the foregoing limits, the any Borrower may borrow under this SectionSection 2.1(a), repay, or to the extent permitted by Section 2.092.11, prepay Dollar Revolving Loans and reborrow at any time during the Revolving Credit Availability Period under this SectionSection 2.1(a).

Appears in 2 contracts

Samples: Credit Agreement (Allegion PLC), Credit Agreement (Allegion PLC)

Commitments to Lend. (a) During the Revolving Credit Period each Each Bank severally agrees, on the terms and conditions set forth in this Agreement, to make loans in U.S. Dollars and/or one or more Designated Currencies (at the option of the Borrower) to the Borrower Company or any Eligible Subsidiary pursuant to this Section from time to time in amounts prior to the Termination Date; provided that, immediately after each such that loan is made: (i) the U.S. Dollar Equivalent sum of the aggregate principal amount Dollar Amount of Committed Loans by such Bank at any one time outstanding plus the Dollar Amount of its Letter of Credit Liabilities shall not exceed the amount of its Commitment and (ii) the aggregate U.S. Dollar Equivalent of the outstanding Loans of all the Banks denominated in Foreign Currencies Total Outstanding Amount shall not exceed $450,000,000the aggregate amount of the Commitments. Each Borrowing of Dollar-Denominated Loans under this Section shall be in an aggregate principal amount that is a of at least $5,000,000 or any larger multiple of the Borrowing Multiple and at least equal to the Borrowing Minimum $1,000,000 (except that any such Borrowing may be in the aggregate amount available in accordance with Section 3.02(c)). Each Borrowing in an Alternative Currency shall be in an aggregate Dollar Amount of the unused Commitments) and at least $5,000,000. Each Borrowing under this Section, in any currency, shall be made from the several Banks ratably in proportion to their respective Commitments. Within the foregoing limits, the Borrower Borrowers may borrow under this Section, repay, or to the extent permitted by Section 2.092.12, prepay Loans and reborrow at any time during prior to the Revolving Credit Period Termination Date under this Section.

Appears in 2 contracts

Samples: Credit Agreement (Allergan Inc), Credit Agreement (Allergan Inc)

Commitments to Lend. (a) During the Revolving Credit Period each Each Bank severally agrees, on the terms and conditions set forth in this Agreement, to make loans in U.S. Dollars and/or one or more Designated Currencies (at the option of the Borrower) to the Borrower pursuant to this Section from time to time in amounts during the Revolving Credit Period; provided that, immediately after each such that loan is made, (i) the U.S. Dollar Equivalent of the aggregate outstanding principal amount of such Bank's Committed Loans by such Bank at any one time outstanding shall not exceed the amount of its Commitment and (ii) the aggregate U.S. Dollar Equivalent of the outstanding Loans principal amount of all the Banks denominated in Foreign Currencies Loans shall not exceed $450,000,000the aggregate amount of the Commitments. Each Borrowing under this Section 2.01 shall be in an aggregate principal amount that is a of $25,000,000 or any larger multiple of the Borrowing Multiple and at least equal to the Borrowing Minimum $5,000,000 (except that any such Borrowing may be in the aggregate amount of available within the unused Commitmentslimitations in the foregoing proviso) and shall be made from the several Banks ratably in proportion to their respective Commitments. Within the foregoing limits, the Borrower may borrow under this Section, repay, or prepay Loans to the extent permitted by Section 2.09, prepay Loans 2.11 and reborrow at any time during the Revolving Credit Period under this Section.

Appears in 1 contract

Samples: Guidant Corp

Commitments to Lend. (a) During the Revolving Credit Period each Each Bank severally agrees, on the terms and conditions set forth in this Agreement, to make loans in U.S. Dollars and/or one or more Designated Agreed Currencies (at the option of the Borrower) to the Borrower Company or any Eligible Subsidiary pursuant to this Section 2.1 from time to time in amounts such during the Revolving Credit Period; provided that (i) the U.S. Dollar Equivalent of the aggregate principal amount of Loans by such Bank at any one time outstanding to all Borrowers shall not exceed the amount of its Commitment Commitment, and (ii) the aggregate U.S. Dollar Equivalent principal amount of the Loans at any one time outstanding Loans of to all the Banks denominated in Foreign Currencies Borrowers shall not exceed $450,000,000the aggregate amount of the Commitments. Each Borrowing under this Section 2.1 shall be in an aggregate principal amount that is a of $10,000,000 or any larger multiple of the Borrowing Multiple and at least equal to the Borrowing Minimum $1,000,000 (except that any such Borrowing may be in the aggregate amount available in accordance with Section 3.2(c)), shall be of the unused Commitments) same Agreed Currency and shall be made from the several Banks ratably in proportion to their respective Commitments. Within the foregoing limits, the Borrower Borrowers may borrow under this SectionSection 2.1, repay, or to the extent permitted or required by Section 2.092.11 prepay, prepay Loans and reborrow at any time during the Revolving Credit Period under this SectionSection 2.1. Notwithstanding the foregoing, no more than six (6) Borrowings shall be outstanding at any one time.

Appears in 1 contract

Samples: Revolving Credit Agreement (Eaton Corp)

Commitments to Lend. (a) During the Revolving Credit Period each Each Bank severally agrees, on the terms and conditions set forth in this Agreement, to make loans in U.S. Dollars and/or one or more Designated Currencies (at the option of the Borrower) to the Borrower pursuant to this Section from time to time in amounts during the Revolving Credit Period; provided that, immediately after each such that loan is made: (i) the U.S. Dollar Equivalent sum of the aggregate outstanding principal amount of such Bank's Committed Loans by plus the aggregate amount of such Bank at any one time outstanding Bank's Letter of Credit Liabilities shall not exceed the amount of its Commitment and (ii) the aggregate U.S. Dollar Equivalent of the outstanding Loans of all the Banks denominated in Foreign Currencies Total Outstanding Amount shall not exceed $450,000,000the aggregate amount of the Commitments. Each Borrowing under this Section shall be in an aggregate principal amount that is a of $25,000,000 or any larger multiple of the Borrowing Multiple and at least equal to the Borrowing Minimum $1,000,000 (except that any such Borrowing may be in the aggregate amount of available within the unused Commitmentslimitations in the foregoing proviso) and shall be made from the several Banks ratably in proportion to their respective Commitments. Within the foregoing limits, the Borrower may borrow under this Section, repay, or to the extent permitted by Section 2.092.12, prepay Loans and reborrow at any time during the Revolving Credit Period under this SectionSection 2.01.

Appears in 1 contract

Samples: Credit Agreement (Textron Financial Corp)

Commitments to Lend. (a) During the Revolving Credit Period Period, each Bank severally agrees, on the terms and conditions set forth in this Agreement, to make loans in U.S. Dollars and/or one or more Designated Currencies (at the option of the Borrower) to the Borrower from time to time pursuant to this Section from time to time 2.1 in amounts such that (ia) the U.S. Dollar Equivalent of the aggregate principal amount of Committed Loans by such Bank at any one time outstanding shall not exceed the amount of its Commitment and (iib) after giving effect to any Committed Borrowing, the aggregate U.S. Dollar Equivalent amount of all outstanding Committed Loans plus the aggregate amount of all Bid Loans outstanding Loans shall not exceed the combined Commitments of all the Banks denominated in Foreign Currencies shall not exceed $450,000,000Banks. Each Borrowing under this Section shall be in an aggregate principal amount that is a of $15,000,000 or any larger multiple of the Borrowing Multiple and at least equal to the Borrowing Minimum $1,000,000 (except that any such Borrowing may be in the aggregate amount of the unused Commitments) and shall be made from the several Banks ratably in proportion to their respective Commitments. Within the foregoing limits, the Borrower may borrow under this Section, repay, or to the extent permitted by Section 2.092.12, prepay Loans and reborrow at any time during the Revolving Credit Period under this Section.

Appears in 1 contract

Samples: Assignment and Assumption Agreement (Policy Management Systems Corp)

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Commitments to Lend. (a) During the Revolving Credit Period each Each Bank severally agrees, on the terms and conditions set forth in this Agreementherein, to make loans in U.S. Dollars and/or one or more Designated Currencies (at the option of the Borrower) Loans to the Borrower pursuant to this Section from time to time in amounts such that before the Maturity Date; provided that, (i) each Bank's Commitment shall be initially advanced, if at all, in one advance made on the U.S. Dollar Equivalent Funding Date; and (ii) immediately after each Loan is made, the aggregate outstanding principal amount of the Loans by such Bank shall not exceed such Bank's Commitment, provided further that the aggregate principal amount of all Loans by such Bank at any one time outstanding shall not exceed the aggregate amount of its Commitment and (ii) the aggregate U.S. Dollar Equivalent Commitments of all of the outstanding Loans of all the Banks denominated in Foreign Currencies shall not exceed $450,000,000at such time. Each Borrowing that is a Euro- Dollar Borrowing under this Section shall be in an aggregate principal amount of $5,000,000 or any larger multiple of $1,000,000 and each Borrowing that is a Base Rate Borrowing under this Section shall be in an aggregate principal amount of $1,000,000 or any larger multiple of the Borrowing Multiple and at least equal to the Borrowing Minimum (except that any such Borrowing may be in the aggregate amount of the unused Commitments) $500,000 and shall be made from the several Banks ratably in proportion to their respective Commitments. Within the foregoing limits, the Borrower may borrow under this SectionSection 2.01, repayrepay or, or to the extent permitted by Section 2.092.08, prepay repay Loans and reborrow under this Section 2.01 at any time during before the Revolving Credit Period under this SectionMaturity Date; provided, however, that after the Funding Date: (i) the proceeds of any Borrowing shall be used exclusively for the purpose of repaying Loans maturing on the date of such Borrowing and for no other purpose; and (ii) the ability to reborrow may be limited by the provisions of Section 2.08 hereof.

Appears in 1 contract

Samples: Credit Agreement (Meredith Corp)

Commitments to Lend. (a) During the Revolving Credit Period each Each Bank severally agrees, on the terms and conditions set forth in this Agreement, to make loans in U.S. Dollars and/or one or more Designated Currencies (at the option of the Borrower) to the Borrower or participate in Letters of Credit issued by the Fronting Bank on behalf of Borrower pursuant to this Section Article from time to time during the term hereof in amounts such that (i) the U.S. Dollar Equivalent of the aggregate principal amount of Loans by such Bank at any one time outstanding together with such Bank's pro rata share of Letter of Credit Usage shall not exceed the amount of its Commitment Commitment. The aggregate amount of Committed Loans together with Letter of Credit Usage and (ii) the aggregate U.S. Dollar Equivalent of the outstanding Money Market Loans of all the Banks denominated in Foreign Currencies shall not exceed One Hundred Seventy-Five Million Dollars ($450,000,000175,000,000). Each Borrowing outstanding under this Section 2.1 (other than a Borrowing in connection with a draw under a Letter of Credit) shall be in an aggregate principal amount that is a of $500,000, or an integral multiple of the Borrowing Multiple and at least equal to the Borrowing Minimum $500,000 in excess thereof (except that any such Borrowing may be in the aggregate amount of the unused Commitmentsavailable in accordance with Section 3.2(c)) and shall be made from the several Banks ratably in proportion to their respective Commitments. Within the foregoing limits, the Borrower may borrow under this Section, repay, or Subject to the extent permitted by Section 2.09limitations set forth herein, prepay Loans and reborrow at any time during the Revolving Credit Period under this Sectionamounts repaid may be reborrowed.

Appears in 1 contract

Samples: Revolving Credit Agreement (Avalon Properties Inc)

Commitments to Lend. (a) During the Revolving Credit Period each Bank Each Lender severally agrees, on the terms and conditions set forth in this Agreement, to make loans in U.S. Dollars and/or one or more Designated Currencies (at the option of the Borrower) to the Borrower Company or any Eligible Subsidiary pursuant to this Section from time to time in amounts prior to the Termination Date; provided that, immediately after each such that loan is made: (i) the U.S. Dollar Equivalent sum of the aggregate principal amount Dollar Amount of Committed Loans by such Bank at any one time outstanding Lender plus the Dollar Amount of its Letter of Credit Liabilities and Swingline Exposure shall not exceed the amount of its Commitment and (ii) the aggregate U.S. Dollar Equivalent of the outstanding Loans of all the Banks denominated in Foreign Currencies Total Outstanding Amount shall not exceed $450,000,000the aggregate amount of the Commitments. Each Borrowing of Dollar-Denominated Loans under this Section shall be in an aggregate principal amount that is a of at least $5,000,000 or any larger multiple of the Borrowing Multiple and at least equal to the Borrowing Minimum $1,000,000 (except that any such Borrowing may be in the aggregate amount available in accordance with Section 3.02(c)). Each Borrowing in an Alternative Currency shall be in an aggregate Dollar Amount of at least $5,000,000 (except that any such Borrowing may be in the unused Commitments) and aggregate amount available in accordance with Section 3.02(c)). Each Borrowing under this Section, in any currency, shall be made from the several Banks Lenders ratably in proportion to their respective Commitments. Within the foregoing limits, the Borrower Borrowers may borrow under this Section, repay, or to the extent permitted by Section 2.092.12, prepay Loans and reborrow at any time during prior to the Revolving Credit Period Termination Date under this Section.

Appears in 1 contract

Samples: Credit Agreement (Allergan Inc)

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