Commitments to Lend. Each Bank severally agrees, on the terms and conditions set forth in this Agreement to make Loans in Dollars or (in the case of Euro-Dollar Loans only) Alternate Currencies to the Borrowers and to participate in Letters of Credit issued by the Fronting Bank on behalf of the Borrowers pursuant to this Article from time to time during the term hereof in amounts such that (i) the aggregate Dollar Equivalent Amount of Aggregate Loans by such Bank at any one time outstanding together with (a) the Dollar Equivalent Amount of such Bank’s pro rata share of Letter of Credit Usage at such time and (b) if applicable, the Dollar Equivalent Amount of such Bank’s Pro Rata Share of Rupee Letter of Credit Usage, shall not exceed the Dollar Equivalent Amount of its Commitment, and (ii) the aggregate Dollar Equivalent Amount of Loans by such Bank at any time outstanding in respect of a Tranche together with the Dollar Equivalent Amount of such Bank’s pro rata share of Letter of Credit Usage in respect of such Tranche shall not exceed the Dollar Equivalent Amount of its Currency Commitment for such Tranche; provided, that, in the case of a Euro-Dollar Loan denominated in an Alternate Currency, (x) such Alternate Currency is readily available to such Banks and is freely transferable and convertible to Dollars, (y) except in the case of Canadian Dollars, the Reuters screen (or any successor thereto) reports an Interbank Offered Rate, as applicable, for such Alternate Currency relating to the applicable Interest Period, and (z) AMB LP shall then have an Investment Grade Rating from both S&P and M▇▇▇▇’▇. Each Borrowing outstanding under Section 2.1 of: (A) Euro-Dollar Loans denominated in Dollars shall be in an aggregate principal amount of $1,000,000, or an integral multiple of $500,000 in excess thereof; (B) Euro-Dollar Loans denominated in Hong Kong Dollars shall be in an aggregate principal amount of HK$8,000,000, or an integral multiple of HK$4,000,000 in excess thereof; (C) Euro-Dollar Loans denominated in Singapore Dollars shall be in an aggregate principal amount of S$2,000,000, or an integral multiple of S$1,000,000 in excess thereof; (D) Euro-Dollar Loans denominated in Canadian Dollars shall be in an aggregate principal amount of CA$1,000,000, or an integral multiple of CA$500,000 in excess thereof; (E) Euro-Dollar Loans denominated in Euros shall be in an aggregate principal amount of €1,000,000, or an integral multiple of €500,000 in excess thereof; (F) Euro-Dollar Loans denominated in Pounds Sterling shall be in an aggregate principal amount of £500,000, or an integral multiple of £250,000 in excess thereof; and (G) Base Rate Loans shall be in an aggregate principal amount of $500,000, or an integral multiple of $100,000 in excess thereof; (except that any Borrowing may only be in the aggregate amount available in accordance with Section 4.2(b), or in any amount required to reimburse the Fronting Bank for any drawing under any Letter of Credit); and each Borrowing in respect of the Tranche specified in the applicable Notice of Borrowing shall be made from the several Applicable Banks ratably in proportion to their respective Currency Commitments for such Tranche. Subject to the provisions of Section 2.15 hereof, in no event shall the aggregate Dollar Equivalent Amount of all Aggregate Loans outstanding at any time, plus the Dollar Equivalent Amount of Letter of Credit Usage, plus the Dollar Equivalent Amount of Rupee Letter of Credit Usage, exceed $500,000,000 (as adjusted pursuant to Section 2.15, the “Facility Amount”) except as provided in Section 2.10, nor shall the aggregate Dollar Equivalent Amount of all Loans in respect of a Tranche at any time outstanding, plus the Dollar Equivalent Amount of Letter of Credit Usage in respect of such Tranche, exceed the Tranche Commitment applicable to such Tranche, with all Loans denominated in Alternate Currencies being marked-to-market in the manner set forth in Section 2.10. Subject to the limitations set forth herein, any amounts repaid may be reborrowed.
Appears in 2 contracts
Sources: Revolving Credit Agreement (Amb Property Corp), Revolving Credit Agreement (Amb Property Lp)
Commitments to Lend. (a) Each Bank severally agrees, on the terms and conditions set forth in this Agreement Agreement, to make the Tranche A Loans in Dollars or (in the case of Euro-Dollar Loans only) Alternate Currencies to the Borrowers ▇▇▇▇ and to CarrAmerica LP and participate in Letters of Credit issued by the Fronting Bank on behalf of the Borrowers ▇▇▇▇ or CarrAmerica LP pursuant to this Article Section from time to time time, but, together with the Tranche B Loans, not more frequently than twice monthly, during the term hereof Term in amounts such that (i) the aggregate Dollar Equivalent Amount principal amount of Aggregate Tranche A Loans by such Bank at any one time outstanding together with (a) the Dollar Equivalent Amount of such Bank’s 's pro rata share of Letter of Credit Usage at such time with respect to ▇▇▇▇ and (b) if applicableCarrAmerica LP shall not exceed the amount of its Tranche A Commitment. The aggregate amount of Tranche A Loans to be made hereunder, together with the Dollar Equivalent Amount of such Bank’s Pro Rata Share of Rupee Letter of Credit UsageUsage with respect to ▇▇▇▇ and CarrAmerica LP, shall not exceed One Hundred Forty-One Million Dollars ($141,000,000) (the Dollar Equivalent Amount "Tranche A Loan Amount"). Each Bank severally agrees, on the terms and conditions set forth in this Agreement, to make the Tranche B Loans to ▇▇▇▇ ▇▇ and ▇▇▇▇ and participate in Letters of its CommitmentCredit issued by the Fronting Bank on behalf of ▇▇▇▇ ▇▇ pursuant to this Section from time to time, and (ii) but, together with the Tranche A Loans, not more frequently than twice monthly, during the Term in amounts such that the aggregate Dollar Equivalent Amount principal amount of Tranche B Loans by such Bank at any one time outstanding in respect of a Tranche outstanding, together with the Dollar Equivalent Amount of such Bank’s 's pro rata share of Letter of Credit Usage in with respect of such Tranche to ▇▇▇▇ ▇▇, shall not exceed the Dollar Equivalent Amount amount of its Currency Commitment for such Tranche; providedTranche B Commitment. The aggregate amount of Tranche B Loans to be made hereunder, that, in together with the case Letter of a Euro-Dollar Loan denominated in an Alternate Currency, (x) such Alternate Currency is readily available Credit Usage with respect to such Banks and is freely transferable and convertible to Dollars, (y) except in the case of Canadian Dollars, the Reuters screen (or any successor thereto) reports an Interbank Offered Rate, as applicable, for such Alternate Currency relating to the applicable Interest Period, and (z) AMB LP shall then have an Investment Grade Rating from both S&P and M▇▇▇▇ ▇’▇, shall not exceed Seventy-Four Million Dollars ($74,000,000) (the "Tranche B Loan Amount"). Each Borrowing outstanding under Section 2.1 of: this subsection (Aa) Euro-Dollar Loans denominated in Dollars shall be in an aggregate principal amount of at least $1,000,0002,500,000, or an integral multiple of $500,000 1,000,000 in excess thereof; (B) Euro-Dollar Loans denominated in Hong Kong Dollars shall be in an aggregate principal amount of HK$8,000,000, or an integral multiple of HK$4,000,000 in excess thereof; (C) Euro-Dollar Loans denominated in Singapore Dollars shall be in an aggregate principal amount of S$2,000,000, or an integral multiple of S$1,000,000 in excess thereof; (D) Euro-Dollar Loans denominated in Canadian Dollars shall be in an aggregate principal amount of CA$1,000,000, or an integral multiple of CA$500,000 in excess thereof; (E) Euro-Dollar Loans denominated in Euros shall be in an aggregate principal amount of €1,000,000, or an integral multiple of €500,000 in excess thereof; (F) Euro-Dollar Loans denominated in Pounds Sterling shall be in an aggregate principal amount of £500,000, or an integral multiple of £250,000 in excess thereof; and (G) Base Rate Loans shall be in an aggregate principal amount of $500,000, or an integral multiple of $100,000 in excess thereof; thereof (except that any such Borrowing may only be in the aggregate amount available in accordance with Section 4.2(b3.2(c), or in any amount required to reimburse the Fronting Bank for any drawing under any Letter of Credit); ) and each Borrowing in respect of the Tranche specified in the applicable Notice of Borrowing shall be made from the several Applicable Banks ratably in proportion to their respective Currency Commitments for such Tranche. Subject to the provisions of Section 2.15 hereof, in no event shall the aggregate Dollar Equivalent Amount of all Aggregate Loans outstanding at any time, plus the Dollar Equivalent Amount of Letter of Credit Usage, plus the Dollar Equivalent Amount of Rupee Letter of Credit Usage, exceed $500,000,000 (as adjusted pursuant to Section 2.15, the “Facility Amount”) except as provided in Section 2.10, nor shall the aggregate Dollar Equivalent Amount of all Loans in respect of a Tranche at any time outstanding, plus the Dollar Equivalent Amount of Letter of Credit Usage in respect of such Tranche, exceed the Tranche Commitment applicable to such Tranche, with all Loans denominated in Alternate Currencies being marked-to-market in the manner set forth in Section 2.10Commitments. Subject to the limitations set forth herein, any amounts repaid may be reborrowed. Notwithstanding anything to the contrary, the number of new Borrowings shall be limited to two Borrowings per month.
Appears in 1 contract
Sources: Revolving Credit Agreement (Carramerica Realty Corp)
Commitments to Lend. (a) Each Bank severally agrees, on the terms and conditions set forth in this Agreement Agreement, (a) to make Committed Loans in Dollars or (in the case of Euro-Dollar Loans only) Alternate Currencies to the Borrowers Borrower and to participate in Letters of Credit issued by the Fronting Bank on behalf of the Borrowers Borrower pursuant to this Article from time to time during the term hereof in amounts Dollar Equivalent Amounts such that (i) the aggregate principal Dollar Equivalent Amount of Aggregate Committed Loans by such Bank at any one time outstanding together with (a) the Dollar Equivalent Amount of plus such Bank’s pro rata share Pro Rata Share of Swingline Loans outstanding together with such Bank’s Pro Rata Share of the Letter of Credit Usage at such time and (b) if applicable, the Dollar Equivalent Amount of such Bank’s Pro Rata Share of Rupee Letter of Credit Usage, shall not exceed the Dollar Equivalent Amount of its CommitmentCommitment (it being understood and agreed that Banks with Dollar Commitments shall only be obligated to fund in Dollars with respect to such Dollar Commitments), and (iib) in furtherance and clarification of the foregoing, as to Banks with a Multi-Currency Commitment, to participate in Alternate Currency Letters of Credit issued by the Fronting Bank on behalf of Borrower pursuant to this Article and to make Euro-Currency Loans to Borrower denominated in any Alternate Currency at any time and from time to time during the Term, in an aggregate principal Dollar Equivalent Amount of Loans by such Bank at any time outstanding in respect of a Tranche together with the Dollar Equivalent Amount of not to exceed such Bank’s pro rata share of Letter of Credit Usage in respect of such Tranche shall not exceed the Dollar Equivalent Amount of its Multi-Currency Commitment for such Tranche; provided, that, in the case of a Commitment. Each Euro-Dollar Loan denominated in an Alternate Currency, (x) such Alternate Currency is readily available to such Banks and is freely transferable and convertible to Dollars, (y) except in the case of Canadian Dollars, the Reuters screen (or any successor thereto) reports an Interbank Offered Rate, as applicable, for such Alternate Currency relating to the applicable Interest Period, and (z) AMB LP shall then have an Investment Grade Rating from both S&P and M▇▇▇▇’▇. Each Borrowing outstanding under this Section 2.1 of: (A) Euro-Dollar Loans denominated in Dollars shall be in an aggregate principal amount Dollar Equivalent Amount of approximately $5,000,000, or an integral multiple of a Dollar Equivalent Amount of approximately $1,000,000 in excess thereof, and each Base Rate Borrowing (or Borrowing bearing interest at the Offered Rate) shall be in an aggregate principal Dollar Equivalent Amount of approximately $1,000,000, or an integral multiple of a Dollar Equivalent Amount of approximately $500,000 1,000,000 in excess thereof; (B) Euro-Dollar Loans denominated in Hong Kong Dollars shall be in an aggregate principal amount of HK$8,000,000, or an integral multiple of HK$4,000,000 in excess thereof; (C) Euro-Dollar Loans denominated in Singapore Dollars shall be in an aggregate principal amount of S$2,000,000, or an integral multiple of S$1,000,000 in excess thereof; (D) Euro-Dollar Loans denominated in Canadian Dollars shall be in an aggregate principal amount of CA$1,000,000, or an integral multiple of CA$500,000 in excess thereof; (E) Euro-Dollar Loans denominated in Euros shall be in an aggregate principal amount of €1,000,000, or an integral multiple of €500,000 in excess thereof; (F) Euro-Dollar Loans denominated in Pounds Sterling shall be in an aggregate principal amount of £500,000, or an integral multiple of £250,000 in excess thereof; and (G) Base Rate Loans shall be in an aggregate principal amount of $500,000, or an integral multiple of $100,000 in excess thereof; thereof (except that any such Borrowing may only be in the aggregate amount available in accordance with Section 4.2(b3.2(b), or in any amount Dollar Equivalent Amount required to reimburse the Fronting Bank for any drawing under any Letter of Credit); Credit or to repay the Swingline Lender the amount of any Swingline Loan) and, other than with respect to Money Market Loans and each Borrowing in respect of the Tranche specified in the applicable Notice of Borrowing Swingline Loans, shall be made from the several Applicable Banks ratably in proportion to their respective Currency Commitments for such TrancheCommitments. Subject to the provisions of Section 2.15 hereof, in In no event shall the aggregate Dollar Equivalent Amount of all Aggregate Loans outstanding at any time, plus the Dollar Equivalent Amount of the Letter of Credit Usage, exceed $2,200,000,000 (as adjusted pursuant to paragraph (b) of this Section 2.1, Section 2.11(e) or as may otherwise be provided in this Agreement, the “Facility Amount”). In no event shall the aggregate Dollar Equivalent Amount of Loans attributable to the Multi-Currency Commitments outstanding at any time, plus the Dollar Equivalent Amount of Rupee Letter of Credit Usage, exceed $500,000,000 (as adjusted pursuant to Section 2.15, the “Facility Amount”) except as provided in Section 2.10, nor shall the aggregate Dollar Equivalent Amount of all Loans in respect of a Tranche at any time outstanding, plus the Dollar Equivalent Amount of Letter of Credit Usage in with respect to Letters of such TrancheCredit attributable to the Multi-Currency Commitments, exceed the Tranche Commitment applicable to such Tranche, with all Loans denominated in Alternate Currencies being marked$750,000,000 (“Multi-to-market in the manner set forth in Section 2.10Currency Facility Amount”). Subject to the limitations set forth herein, any amounts repaid may be reborrowed.
Appears in 1 contract
Commitments to Lend. Each Bank severally agrees, on the terms and conditions set forth in this Agreement Agreement, to make Loans in Dollars or (in the case of Euro-Dollar Loans only) Alternate Currencies to the Borrower and to Qualified Borrowers and to participate in Letters of Credit issued by the Fronting Bank on behalf of the Borrower and Qualified Borrowers pursuant to this Article from time to time during the term hereof in amounts such that (i) the aggregate principal Dollar Equivalent Amount of Aggregate Committed Loans by such Bank at any one time outstanding together with (a) the Dollar Equivalent Amount of plus such Bank’s pro rata share Pro Rata Share of Swingline Loans outstanding together with such Bank’s Pro Rata Share of the Letter of Credit Usage at such time and (b) if applicable, the Dollar Equivalent Amount of such Bank’s Pro Rata Share of Rupee Letter of Credit Usage, shall not exceed the Dollar Equivalent Amount of its Commitment, and Commitment (ii) the aggregate Dollar Equivalent Amount of Loans by such Bank at any time outstanding in respect of a Tranche together with the Dollar Equivalent Amount of such Bank’s pro rata share of Letter of Credit Usage in respect of such Tranche shall not exceed the Dollar Equivalent Amount of its Currency Commitment for such Tranche; provided, that, in the case of a Euro-Dollar any Loan denominated in an Alternate Currency, (xi) such Alternate Currency is readily available to such Banks and is freely transferable and convertible to Dollars, (yii) except in the case of Canadian Dollars, the Reuters screen Monitor Money Rates Service (or any successor thereto) reports an a London Interbank Offered Rate, as applicable, Rate for such Alternate Currency relating to the applicable Interest Period, and (ziii) AMB LP Borrower shall then have an Investment Grade Rating from both either S&P and Mor ▇▇▇▇▇’▇). Each Borrowing outstanding under this Section 2.1 of: (A) Euro-Dollar Loans denominated in Dollars shall be in an aggregate principal amount Dollar Equivalent Amount of $1,000,0005,000,000 (or, with respect to an Alternate Currency Borrowing only, the Dollar Equivalent Amount of $3,000,000), or an integral multiple of the Dollar Equivalent Amount of $500,000 1,000,000 in excess thereof; (B) Euro-Dollar Loans denominated in Hong Kong Dollars shall be in an aggregate principal amount of HK$8,000,000, or an integral multiple of HK$4,000,000 in excess thereof; (C) Euro-Dollar Loans denominated in Singapore Dollars shall be in an aggregate principal amount of S$2,000,000, or an integral multiple of S$1,000,000 in excess thereof; (D) Euro-Dollar Loans denominated in Canadian Dollars shall be in an aggregate principal amount of CA$1,000,000, or an integral multiple of CA$500,000 in excess thereof; (E) Euro-Dollar Loans denominated in Euros shall be in an aggregate principal amount of €1,000,000, or an integral multiple of €500,000 in excess thereof; (F) Euro-Dollar Loans denominated in Pounds Sterling shall be in an aggregate principal amount of £500,000, or an integral multiple of £250,000 in excess thereof; and (G) Base Rate Loans shall be in an aggregate principal amount of $500,000, or an integral multiple of $100,000 in excess thereof; thereof (except that any such Borrowing may only be in the aggregate amount available in accordance with Section 4.2(b3.2(b), or in any amount required to reimburse the Fronting Bank for any drawing under any Letter of Credit); Credit or to repay the Swingline Lender the amount of any Swingline Loan) and, other than with respect to Money Market Loans and each Borrowing in respect of the Tranche specified in the applicable Notice of Borrowing Swingline Loans, shall be made from the several Applicable Banks ratably in proportion to their respective Currency Commitments for such TrancheCommitments. Subject to the provisions of Section 2.15 9.19 hereof, in no event shall (i) the aggregate Dollar Equivalent Amount of all Aggregate Loans outstanding at any time, plus the outstanding Dollar Equivalent Amount of Letter of Credit Usage, plus the Dollar Equivalent Amount of Rupee Letter of Credit Usage, exceed $500,000,000 600,000,000 (as adjusted pursuant to Section 2.15, the “Facility Amount”), or (ii) except as provided in Section 2.10, nor shall the aggregate Dollar Equivalent Amount of all Loans denominated in respect of a Tranche at any time outstanding, an Alternate Currency plus the outstanding aggregate Dollar Equivalent Amount of the Letter of Credit Usage in respect for Alternate Currency Letters of such Tranche, Credit exceed the Tranche Commitment applicable to such TrancheAlternate Currency Sublimit, with all with, in the case of both clauses (i) and (ii), Loans denominated in Alternate Currencies and Letter of Credit Usage for Alternate Currency Letters of Credit being marked-to-marked to market monthly on the last Business Day of each month and immediately prior to each Borrowing. Notwithstanding any other provision of this Agreement to the contrary, it is understood and agreed that if (i) the Alternate Currency Commitments shall have been drawn to such extent that the remaining Dollar Commitments shall be insufficient to permit any portion of a Borrowing denominated in Dollars to be funded based upon the Pro Rata Shares of each of the Banks, such Borrowing may still be made, with any such portion to be funded, pro rata, by any Banks that shall not have participated in the manner set forth Alternate Currency Commitments, and (ii) if the Dollar Commitments shall have been drawn to such extent that the remaining Alternate Currency Commitments shall be insufficient to permit any portion of a Borrowing denominated in Section 2.10an Alternate Currency to be funded based upon the Pro Rata Shares of each of the Banks with an Alternate Currency Commitment, then, to the extent necessary to enable such Banks with Alternate Currency Commitments to fund such portion, such Borrowing shall also include a Borrowing in Dollars, pro rata, from the Banks do not have Alternate Currency Commitments, which Borrowing in Dollars will be used to repay, pro rata, Loans in Dollars of such Banks with Alternate Currency Commitments as designated by the Borrower in its notice of Borrowing. Subject to the limitations set forth herein, any amounts repaid may be reborrowed.
Appears in 1 contract
Commitments to Lend. Each Bank severally agrees, on the terms and conditions set forth in this Agreement Agreement, (a) to make Loans in Dollars or (in the case of Euro-Dollar Loans only) Alternate Currencies to the Borrowers Borrower and to participate in Letters of Credit issued by the Fronting Bank on behalf of the Qualified Borrowers pursuant to this Article from time to time during the term hereof in amounts such that (i) the aggregate Dollar Equivalent Amount principal amount of Aggregate Committed Loans by such Bank at any one time outstanding plus such Bank’s Pro Rata Share of Swingline Loans outstanding at such time together with (a) the Dollar Equivalent Amount of such Bank’s pro rata share of the Letter of Credit Usage at such time and (b) if applicable, the Dollar Equivalent Amount of such Bank’s Pro Rata Share of Rupee Letter of Credit Usage, shall not exceed the Dollar Equivalent Amount of its Commitment, and (iib) in furtherance and clarification of the aggregate Dollar Equivalent Amount of Loans by such Bank at any time outstanding foregoing, as to Banks with an Alternate Currency Commitment only, to participate in respect of a Tranche together with the Dollar Equivalent Amount of such Bank’s pro rata share of Letter Alternate Currency Letters of Credit Usage in respect issued by the Fronting Bank on behalf of such Tranche shall not exceed Borrower or the Dollar Equivalent Amount of its Currency Commitment for such Tranche; provided, that, in the case of a Qualified Borrowers pursuant to this Article and to make Euro-Dollar Loan Loans to Borrower and to the Qualified Borrowers denominated in an any Alternate Currency, Currency (xprovided (i) such Alternate Currency is readily available to such Banks and is freely transferable and convertible to Dollars, and (yii) except in the case of Canadian Dollars, the Reuters screen Monitor Money Rates Service (or any successor thereto) reports an a London Interbank Offered Rate, as applicable, Rate for such Alternate Currency relating to the applicable Interest Period, and (z) AMB LP shall then have in an Investment Grade Rating from both S&P and M▇▇▇▇’▇aggregate principal Dollar Equivalent Amount not to exceed such Bank’s Alternate Currency Commitment. Each Borrowing outstanding under this Section 2.1 of: (A) Euro-Dollar Loans denominated in Dollars shall be in an aggregate principal amount Dollar Equivalent Amount of $1,000,0005,000,000, or an integral multiple of $500,000 in excess thereof; (B) Euro-the Dollar Loans denominated in Hong Kong Dollars shall be in an aggregate principal amount of HK$8,000,000, or an integral multiple of HK$4,000,000 in excess thereof; (C) Euro-Dollar Loans denominated in Singapore Dollars shall be in an aggregate principal amount of S$2,000,000, or an integral multiple of S$1,000,000 in excess thereof; (D) Euro-Dollar Loans denominated in Canadian Dollars shall be in an aggregate principal amount of CA$1,000,000, or an integral multiple of CA$500,000 in excess thereof; (E) Euro-Dollar Loans denominated in Euros shall be in an aggregate principal amount of €1,000,000, or an integral multiple of €500,000 in excess thereof; (F) Euro-Dollar Loans denominated in Pounds Sterling shall be in an aggregate principal amount of £500,000, or an integral multiple of £250,000 in excess thereof; and (G) Base Rate Loans shall be in an aggregate principal amount of $500,000, or an integral multiple Equivalent Amount of $100,000 in excess thereof; thereof (except that any such Borrowing may only be in the aggregate amount available in accordance with Section 4.2(b3.2(b), or in any amount required to reimburse the Fronting Bank for any drawing under any Letter of Credit); Credit or to repay the Swingline Lender the amount of any Swingline Loan) and, other than with respect to Money Market Loans and each Borrowing in respect of the Tranche specified in the applicable Notice of Borrowing Swingline Loans, shall be made from the several Applicable Banks ratably in proportion to their respective Currency Commitments for such TrancheCommitments. Subject to the provisions of Section 2.15 hereof, in In no event shall (i) the aggregate Dollar Equivalent Amount of all Aggregate Loans outstanding at any time, plus the outstanding Dollar Equivalent Amount of Letter of Credit Usage, plus the Dollar Equivalent Amount of Rupee Letter of Credit Usage, exceed $500,000,000 (as adjusted pursuant to Section 2.152,500,000,000, the “Facility Amount”), or (ii) except as provided in Section 2.10, nor shall the aggregate Dollar Equivalent Amount amount of all Loans denominated in respect of a Tranche at any time outstanding, an Alternate Currency plus the Dollar Equivalent Amount of outstanding Letter of Credit Usage in respect for Alternate Currency Letters of such Tranche, Credit exceed the Tranche Commitment applicable to such TrancheAlternate Currency Sublimit, with all with, in the case of both clauses (i) and (ii), Loans denominated in Alternate Currencies and Letter of Credit Usage for Alternate Currency Letters of Credit being marked-to-marked to market monthly on the last Business Day of each month. Notwithstanding any other provision of this Agreement to the contrary, each Borrowing denominated in Dollars shall be deemed to use the Dollar Commitments to the extent the Dollar Sublimit would not be exceeded thereby, and to use the Alternate Currency Commitments if such Alternate Currency Commitments are available in the manner set forth in Section 2.10event that the Dollar Commitments would be so exceeded. Subject to the limitations set forth herein, any amounts repaid may be reborrowed.
Appears in 1 contract
Sources: Revolving Credit Agreement (Eop Operating LTD Partnership)
Commitments to Lend. Each Bank severally agrees, on the terms and conditions set forth in this Agreement Agreement, (a) to make Loans in Dollars or (in the case of Euro-Dollar Loans only) Alternate Currencies to the Borrower and to Qualified Borrowers and to participate in Letters of Credit issued by the Fronting Bank on behalf of the Borrower and Qualified Borrowers pursuant to this Article from time to time during the term hereof in amounts such that (i) the aggregate Dollar Equivalent Amount principal amount of Aggregate Committed Loans by such Bank at any one time outstanding plus such Bank's Pro Rata Share of Swingline Loans outstanding together with (a) the Dollar Equivalent Amount of such Bank’s 's pro rata share of the Letter of Credit Usage at such time and (b) if applicable, the Dollar Equivalent Amount of such Bank’s Pro Rata Share of Rupee Letter of Credit Usage, shall not exceed the Dollar Equivalent Amount of its Commitment, and (iib) in furtherance and clarification of the aggregate Dollar Equivalent Amount of Loans by such Bank at any time outstanding foregoing, as to Banks with an Alternate Currency Commitment only, to participate in respect of a Tranche together with the Dollar Equivalent Amount of such Bank’s pro rata share of Letter Alternate Currency Letters of Credit Usage in respect issued by the Fronting Bank on behalf of such Tranche shall not exceed the Dollar Equivalent Amount of its Currency Commitment for such Tranche; provided, that, in the case of a Borrower and Qualified Borrowers pursuant to this Article and to make Euro-Dollar Loan Loans to Borrower and Qualified Borrowers denominated in an any Alternate Currency, Currency (xprovided (i) such Alternate Currency is readily available to such Banks and is freely transferable and convertible to Dollars, (yii) except in the case of Canadian Dollars, the Reuters screen Monitor Money Rates Service (or any successor thereto) reports an a London Interbank Offered Rate, as applicable, Rate for such Alternate Currency relating to the applicable Interest Period, and (ziii) AMB LP Borrower shall then have an Investment Grade Rating from both S&P and MMoody's) at any time and from time to time during the Term, in an agg▇▇▇▇’▇▇ principal Dollar Equivalent Amount not to exceed such Bank's Alternate Currency Commitment. Each Borrowing outstanding under this Section 2.1 of: (A) Euro-Dollar Loans denominated in Dollars shall be in an aggregate principal amount Dollar Equivalent Amount of $1,000,0005,000,000 (or, with respect to an Alternate Currency Borrowing only, the Dollar Equivalent Amount of $3,000,000), or an integral multiple of the Dollar Equivalent Amount of $500,000 1,000,000 in excess thereof; (B) Euro-Dollar Loans denominated in Hong Kong Dollars shall be in an aggregate principal amount of HK$8,000,000, or an integral multiple of HK$4,000,000 in excess thereof; (C) Euro-Dollar Loans denominated in Singapore Dollars shall be in an aggregate principal amount of S$2,000,000, or an integral multiple of S$1,000,000 in excess thereof; (D) Euro-Dollar Loans denominated in Canadian Dollars shall be in an aggregate principal amount of CA$1,000,000, or an integral multiple of CA$500,000 in excess thereof; (E) Euro-Dollar Loans denominated in Euros shall be in an aggregate principal amount of €1,000,000, or an integral multiple of €500,000 in excess thereof; (F) Euro-Dollar Loans denominated in Pounds Sterling shall be in an aggregate principal amount of £500,000, or an integral multiple of £250,000 in excess thereof; and (G) Base Rate Loans shall be in an aggregate principal amount of $500,000, or an integral multiple of $100,000 in excess thereof; thereof (except that any such Borrowing may only be in the aggregate amount available in accordance with Section 4.2(b3.2(b), or in any amount required to reimburse the Fronting Bank for any drawing under any Letter of Credit); Credit or to repay the Swingline Lender the amount of any Swingline Loan) and, other than with respect to Money Market Loans and each Borrowing in respect of the Tranche specified in the applicable Notice of Borrowing Swingline Loans, shall be made from the several Applicable Banks ratably in proportion to their respective Currency Commitments for such TrancheCommitments. Subject to the provisions of Section 2.15 9.19 hereof, in no event shall (i) the aggregate Dollar Equivalent Amount of all Aggregate Loans outstanding at any time, plus the outstanding Dollar Equivalent Amount of Letter of Credit Usage, plus the Dollar Equivalent Amount of Rupee Letter of Credit Usage, exceed $500,000,000 (as adjusted pursuant to Section 2.159.19, the “"Facility Amount”"), or (ii) except as provided in Section 2.10, nor shall the aggregate Dollar Equivalent Amount amount of all Loans denominated in respect of a Tranche at any time outstanding, an Alternate Currency plus the Dollar Equivalent Amount of outstanding Letter of Credit Usage in respect for Alternate Currency Letters of such Tranche, Credit exceed the Tranche Commitment applicable to such TrancheAlternate Currency Sublimit, with all with, in the case of both clauses (i) and (ii), Loans denominated in Alternate Currencies and Letter of Credit Usage for Alternate Currency Letters of Credit being marked-to-marked to market monthly on the last Business Day of each month. Notwithstanding any other provision of this Agreement to the contrary, (a) each Borrowing denominated in Dollars shall be deemed to use the Dollar Commitments to the extent the Dollar Sublimit would not be exceeded thereby, and to use the Alternate Currency Commitments if such Alternate Currency Commitments are available in the manner set forth in Section 2.10event that the Dollar Commitments would be so exceeded. Subject to the limitations set forth herein, any amounts repaid may be reborrowed.
Appears in 1 contract
Commitments to Lend. Each Bank severally agrees, on the terms and conditions set forth in this Agreement to make Loans in Dollars or (in the case of Euro-Dollar Loans only) Alternate Currencies to the Borrowers and to participate in Letters of Credit issued by the Fronting Bank on behalf of the Borrowers pursuant to this Article from time to time during the term hereof in amounts such that (i) the aggregate Dollar Equivalent Amount principal amount of Aggregate Loans by such Bank at any one time outstanding together with (a) the Dollar Equivalent Amount of such Bank’s pro rata share of Letter of Credit Usage at such time and (b) if applicable, the Dollar Equivalent Amount of such Bank’s Pro Rata Share of Rupee Letter of Credit Usage, shall not exceed the Dollar Equivalent Amount of its Commitment, and (ii) the aggregate Dollar Equivalent Amount of Loans by such Bank at any time outstanding in respect of a Tranche together with the Dollar Equivalent Amount of such Bank’s pro rata share of Letter of Credit Usage in respect of such Tranche shall not exceed the Dollar Equivalent Amount of its Currency Commitment for such Tranche; provided, that, in the case of a Euro-Dollar Loan denominated in an Alternate Currency, (xi) such Alternate Currency is readily available to such Banks and is freely transferable and convertible to Dollars, (yii) except in the case of Canadian Dollars, the Reuters screen (or any successor thereto) reports an Interbank Offered Rate, as applicable, Rate for such Alternate Currency relating to the applicable Interest Period, and (ziii) AMB LP shall then have an Investment Grade Rating from both S&P and M▇▇▇▇▇’▇. Each Borrowing outstanding under Section 2.1 of: (Aa) Euro-Dollar Loans denominated in Dollars shall be in an aggregate principal amount of $1,000,000, or an integral multiple of $500,000 in excess thereof; (Bb) Euro-Dollar Loans denominated in Hong Kong Dollars shall be in an aggregate principal amount of HK$8,000,000, or an integral multiple of HK$4,000,000 in excess thereof; (Cc) Euro-Dollar Loans denominated in Singapore Dollars shall be in an aggregate principal amount of S$2,000,000, or an integral multiple of S$1,000,000 in excess thereof; (Dd) Euro-Dollar Loans denominated in Canadian Dollars shall be in an aggregate principal amount of CA$1,000,000, or an integral multiple of CA$500,000 in excess thereof; (Ee) Euro-Dollar Loans denominated in Euros shall be in an aggregate principal amount of €1,000,000, or an integral multiple of €500,000 in excess thereof; (F) Euro-Dollar Loans denominated in Pounds Sterling shall be in an aggregate principal amount of £500,000, or an integral multiple of £250,000 in excess thereof; and (Gf) Base Rate Loans shall be in an aggregate principal amount of $500,000, or an integral multiple of $100,000 in excess thereof; (except that any Borrowing may only be in the aggregate amount available in accordance with Section 4.2(b), or in any amount required to reimburse the Fronting Bank for any drawing under any Letter of Credit); and each Borrowing in respect of the Tranche specified in the applicable Notice of Borrowing shall be made from the several Applicable Banks ratably in proportion to their respective Currency Commitments for such TrancheCommitments. Subject to the provisions of Section 2.15 hereof, in no event shall the aggregate Dollar Equivalent Amount of all Aggregate Loans outstanding at any time, plus the outstanding Dollar Equivalent Amount of Letter of Credit Usage, plus the Dollar Equivalent Amount of Rupee Letter of Credit Usage, exceed $500,000,000 250,000,000 (as adjusted pursuant to Section 2.15, the “Facility Amount”) except as provided in Section 2.10, nor shall the aggregate Dollar Equivalent Amount of all Loans in respect of a Tranche at any time outstanding, plus the Dollar Equivalent Amount of Letter of Credit Usage in respect of such Tranche, exceed the Tranche Commitment applicable to such Tranche, with all Loans denominated in Alternate Currencies being marked-to-market in the manner set forth in Section 2.10. Subject to the limitations set forth herein, any amounts repaid may be reborrowed.
Appears in 1 contract
Commitments to Lend. Each Bank severally agrees, on the terms and conditions set forth in this Agreement Agreement, to make Loans in Dollars or (in the case of Euro-Dollar Loans only) Alternate Currencies Currency, as applicable, to the Borrowers Borrower and to participate in Letters of Credit issued by the Fronting Bank on behalf of the Borrowers Initial Qualified Borrowers, as applicable, pursuant to this Article on the Effective Date in an amount equal to its Commitment (except that it is understood and agreed that Loans in Alternate Currencies may be funded on the following Business Day). The initial Borrowing shall be made on the Effective Date and shall be made from time the several Banks ratably in proportion to time during their respective Commitments, except that the term hereof Alternate Currency Loans shall be funded by each Bank as indicated on the signature pages hereto. Subject to the provisions of Section 9.19 hereof, in amounts such that (i) no event shall the aggregate Dollar Equivalent Amount amount of Aggregate Loans by such Bank in Dollars outstanding at any one time outstanding together with time, exceed $345,000,000 (aas adjusted pursuant to Section 9.19, the “Facility Amount”) less the Dollar Equivalent Amount of any Loans denominated in Alternate Currencies as of the date that the amount in Euros and/or Yen of such Bank’s pro rata share Loans was determined by the Administrative Agent. For the avoidance of Letter of Credit Usage at such time doubt, Loans denominated in Alternate Currencies shall not be marked to market and (b) if applicableaccordingly, the Dollar Equivalent Amount of such Bank’s Pro Rata Share of Rupee Letter of Credit Usage, shall not exceed Loans from time to time may cause the Dollar Equivalent Amount of its Commitment, and (ii) the aggregate Dollar Equivalent Amount of all Loans by such Bank at any time outstanding in respect of a Tranche together with the Dollar Equivalent Amount of such Bank’s pro rata share of Letter of Credit Usage in respect of such Tranche shall not to exceed the Dollar Equivalent Facility Amount.. In the event that the Facility Amount of its Currency Commitment for such Tranche; providedshall be increased pursuant to Section 9.19, that, in the case of a Euro-Dollar Loan denominated in an Alternate Currency, (x) such Alternate Currency is readily available to such Banks and is freely transferable and convertible to Dollars, (y) except in the case of Canadian Dollars, the Reuters screen (or any successor thereto) reports an Interbank Offered Rate, as applicable, for such Alternate Currency relating to the applicable Interest Period, and (z) AMB LP shall then have an Investment Grade Rating from both S&P and M▇▇▇▇’▇. Each each Borrowing outstanding under Section 2.1 of: (A) Euro-Dollar Loans denominated in Dollars thereafter shall be in an aggregate principal amount of $1,000,0005,000,000, or an integral multiple of $500,000 1,000,000 in excess thereof; (B) Euro-Dollar Loans denominated in Hong Kong Dollars shall be in an aggregate principal amount of HK$8,000,000, or an integral multiple of HK$4,000,000 in excess thereof; (C) Euro-Dollar Loans denominated in Singapore Dollars shall be in an aggregate principal amount of S$2,000,000, or an integral multiple of S$1,000,000 in excess thereof; (D) Euro-Dollar Loans denominated in Canadian Dollars shall be in an aggregate principal amount of CA$1,000,000, or an integral multiple of CA$500,000 in excess thereof; (E) Euro-Dollar Loans denominated in Euros shall be in an aggregate principal amount of €1,000,000, or an integral multiple of €500,000 in excess thereof; (F) Euro-Dollar Loans denominated in Pounds Sterling shall be in an aggregate principal amount of £500,000, or an integral multiple of £250,000 in excess thereof; and (G) Base Rate Loans shall be in an aggregate principal amount of $500,000, or an integral multiple of $100,000 in excess thereof; thereof (except that any such Borrowing may only be in the aggregate amount available in accordance with Section 4.2(b), or in any amount required to reimburse the Fronting Bank for any drawing under any Letter of Credit); and each Borrowing in respect of the Tranche specified in the applicable Notice of Borrowing shall Commitments then available to be made from the several Applicable Banks ratably in proportion to their respective Currency Commitments for such Trancheborrowed). Subject to the provisions of Section 2.15 hereof, in no event shall the aggregate Dollar Equivalent Amount of all Aggregate Loans outstanding at any time, plus the Dollar Equivalent Amount of Letter of Credit Usage, plus the Dollar Equivalent Amount of Rupee Letter of Credit Usage, exceed $500,000,000 (as adjusted pursuant to Section 2.15, the “Facility Amount”) except as provided in Section 2.10, nor shall the aggregate Dollar Equivalent Amount of all Loans in respect of a Tranche at any time outstanding, plus the Dollar Equivalent Amount of Letter of Credit Usage in respect of such Tranche, exceed the Tranche Commitment applicable to such Tranche, with all Loans denominated in Alternate Currencies being marked-to-market in the manner set forth in Section 2.10. Subject to the limitations set forth herein, any Any amounts repaid may not be reborrowed.
Appears in 1 contract
Sources: Credit Agreement (Amb Property Lp)
Commitments to Lend. Each Bank severally of the Banks agrees, on the terms and conditions set forth in this Agreement herein, to make Loans in Dollars or (in which may be, at the case option of the Borrower and subject to the terms and conditions hereof, Base Rate Loans, Euro-Dollar Loans onlyor Foreign Currency Loans) Alternate Currencies to the Borrowers and to participate in Letters of Credit issued by the Fronting Bank on behalf of the Borrowers pursuant to this Article Borrower from time to time during before the term hereof in amounts Termination Date; provided that, immediately after each such that Loan is made,
(i) the sum of the aggregate outstanding principal amount of Base Rate Loans and Euro-Dollar Loans and the Dollar Equivalent Amount of Aggregate Foreign Currency Loans by such Bank at any one time outstanding together with (a) the Dollar Equivalent Amount of such Bank’s pro rata share of Letter of Credit Usage at such time and (b) if applicable, the Dollar Equivalent Amount of such Bank’s Pro Rata Share of Rupee Letter of Credit Usage, shall not exceed the Dollar Equivalent Amount amount of its Commitment, and
(ii) the aggregate outstanding principal amount of all Base Rate Loans and Euro-Dollar Loans of all Banks and the Dollar Equivalent of the aggregate principal amount of the Foreign Currency Loans of all Banks shall not exceed the aggregate amount of all of the Commitments. The Dollar Equivalent of each Foreign Currency Loan on the date each Foreign Currency Loan is disbursed pursuant hereto shall be deemed to be the amount of such Foreign Currency Loan outstanding for the purpose of calculating the aggregate outstanding principal amount of the Foreign Currency Loans for purposes of the foregoing clause(ii); provided, however, that if at the time of receipt of any Notice of Borrowing, the aggregate outstanding principal amount of all Base Rate Loans and Euro- Dollar Loans and the Dollar Equivalent of the aggregate principal amount of the Foreign Currency Loans of all Banks is equal to or greater than 75% of all of the Commitments, then the Dollar Equivalent of each Foreign Currency Loan shall be calculated as of such date, rather than as of the date such Foreign Currency Loans were disbursed, and in the event that, as a result of such calculation, the aggregate outstanding principal amount of all Base Rate Loans and Euro-Dollar Loans and the Dollar Equivalent of the aggregate principal amount of the Foreign Currency Loans exceeds the aggregate amount of the Commitments, then (i) no Borrowing shall be made in an amount which would cause the limits set forth in the proviso contained in the first sentence of this Section 2.01 to be exceeded, and (ii) the aggregate Dollar Equivalent Amount Foreign Currency Loans shall be subject to mandatory repayment pursuant to the provisions of Loans by such Bank at any time outstanding in respect of a Tranche together with the Dollar Equivalent Amount of such Bank’s pro rata share of Letter of Credit Usage in respect of such Tranche shall not exceed the Dollar Equivalent Amount of its Currency Commitment for such Tranche; providedSection 2.10(b), that, in the case of a Euro-Dollar Loan denominated in an Alternate Currency, (x) such Alternate Currency is readily available to such Banks and is freely transferable and convertible to Dollars, (y) except in the case of Canadian Dollars, the Reuters screen (or any successor thereto) reports an Interbank Offered Rate, as if applicable, for and until such Alternate Currency relating to the applicable Interest Periodprepayment is made, and (z) AMB LP no additional Borrowings shall then have an Investment Grade Rating from both S&P and M▇▇▇▇’▇be permitted. Each Fixed Rate Borrowing outstanding under this Section 2.1 of: (A) Euro-Dollar Loans denominated in Dollars shall be in an aggregate principal amount of $1,000,000, 5,000,000 (or an the Dollar Equivalent thereof in the Foreign Currency) or any larger integral multiple of $500,000 1,000,000 (or the Dollar Equivalent thereof in excess thereofthe Foreign Currency); (B) Euro-Dollar Loans denominated in Hong Kong Dollars shall be in an aggregate principal amount of HK$8,000,000, or an integral multiple of HK$4,000,000 in excess thereof; (C) Euro-Dollar Loans denominated in Singapore Dollars shall be in an aggregate principal amount of S$2,000,000, or an integral multiple of S$1,000,000 in excess thereof; (D) Euro-Dollar Loans denominated in Canadian Dollars shall be in an aggregate principal amount of CA$1,000,000, or an integral multiple of CA$500,000 in excess thereof; (E) Euro-Dollar Loans denominated in Euros shall be in an aggregate principal amount of €1,000,000, or an integral multiple of €500,000 in excess thereof; (F) Euro-Dollar Loans denominated in Pounds Sterling shall be in an aggregate principal amount of £500,000, or an integral multiple of £250,000 in excess thereof; and (G) each Base Rate Loans Borrowing under this Section shall be in an aggregate principal amount of $500,000, 1,000,000 or an any larger integral multiple of $100,000 in excess thereof; 500,000 (except that any such Base Rate Borrowing may only be in the aggregate amount available in accordance with Section 4.2(b), or in any amount required to reimburse the Fronting Bank for any drawing under any Letter of Credit); and each Borrowing in respect of the Tranche specified Unused Commitment). 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 under this Section at any time before the Termination Date. Notwithstanding the foregoing, if there shall occur on or prior to the date of any Foreign Currency Loan any change in national or international financial, political or economic conditions or currency exchange rates or exchange controls which would in the applicable Notice opinion of Borrowing the Agent make it impracticable to make such Foreign Currency Loan, then the Agent shall forthwith give notice thereof to the Borrower and the Banks, and such Foreign Currency Loan shall be made from on such date as Base Rate Loans, unless the several Applicable Banks ratably in proportion Borrower notifies the Agent at least two Domestic Business Days before such date that it elects not to their respective Currency Commitments for borrow on such Tranche. Subject to the provisions of Section 2.15 hereof, in no event shall the aggregate Dollar Equivalent Amount of all Aggregate Loans outstanding at any time, plus the Dollar Equivalent Amount of Letter of Credit Usage, plus the Dollar Equivalent Amount of Rupee Letter of Credit Usage, exceed $500,000,000 (as adjusted pursuant to Section 2.15, the “Facility Amount”) except as provided in Section 2.10, nor shall the aggregate Dollar Equivalent Amount of all Loans in respect of a Tranche at any time outstanding, plus the Dollar Equivalent Amount of Letter of Credit Usage in respect of such Tranche, exceed the Tranche Commitment applicable to such Tranche, with all Loans denominated in Alternate Currencies being marked-to-market in the manner set forth in Section 2.10. Subject to the limitations set forth herein, any amounts repaid may be reborroweddate.
Appears in 1 contract
Commitments to Lend. Each Bank severally agrees, on the terms and conditions set forth in this Agreement Agreement, to make the Tranche A Loans in Dollars or (in the case of Euro-Dollar Loans only) Alternate Currencies to the Borrowers ▇▇▇▇ and to CarrAmerica LP and participate in Letters of Credit issued by the Fronting Bank on behalf of the Borrowers ▇▇▇▇ or CarrAmerica LP pursuant to this Article Section from time to time time, but, together with the Tranche B Loans, not more frequently than twice monthly, during the term hereof Term in amounts such that (i) the aggregate Dollar Equivalent Amount principal amount of Aggregate Tranche A Loans by such Bank at any one time outstanding together with (a) the Dollar Equivalent Amount of such Bank’s 's pro rata share of Letter of Credit Usage at such time with respect to ▇▇▇▇ and (b) if applicableCarrAmerica LP shall not exceed the amount of its Tranche A Commitment. The aggregate amount of Tranche A Loans to be made hereunder, together with the Dollar Equivalent Amount of such Bank’s Pro Rata Share of Rupee Letter of Credit UsageUsage with respect to ▇▇▇▇ and CarrAmerica LP, shall not exceed Two Hundred Fifty-One Million Dollars ($251,000,000) (the Dollar Equivalent Amount "Tranche A Loan Amount"). Each Bank severally agrees, on the terms and conditions set forth in this Agreement, to make the Tranche B Loans to ▇▇▇▇ ▇▇ and ▇▇▇▇ and participate in Letters of its CommitmentCredit issued by the Fronting Bank on behalf of ▇▇▇▇ ▇▇ pursuant to this Section from time to time, and (ii) but, together with the Tranche A Loans, not more frequently than twice monthly, during the Term in amounts such that the aggregate Dollar Equivalent Amount principal amount of Tranche B Loans by such Bank at any one time outstanding in respect of a Tranche outstanding, together with the Dollar Equivalent Amount of such Bank’s 's pro rata share of Letter of Credit Usage in with respect of such Tranche to ▇▇▇▇ ▇▇, shall not exceed the Dollar Equivalent Amount amount of its Currency Commitment for such Tranche; providedTranche B Commitment. The aggregate amount of Tranche B Loans to be made hereunder, that, in together with the case Letter of a Euro-Dollar Loan denominated in an Alternate Currency, (x) such Alternate Currency is readily available Credit Usage with respect to such Banks and is freely transferable and convertible to Dollars, (y) except in the case of Canadian Dollars, the Reuters screen (or any successor thereto) reports an Interbank Offered Rate, as applicable, for such Alternate Currency relating to the applicable Interest Period, and (z) AMB LP shall then have an Investment Grade Rating from both S&P and M▇▇▇▇ ▇’▇, shall not exceed Seventy-Four Million Dollars ($74,000,000) (the "Tranche B Loan Amount"). Each Borrowing outstanding under Section 2.1 of: this sub section (Aa) Euro-Dollar Loans denominated in Dollars shall be in an aggregate principal amount of at least $1,000,0002,500,000, or an integral multiple of $500,000 1,000,000 in excess thereof; (B) Euro-Dollar Loans denominated in Hong Kong Dollars shall be in an aggregate principal amount of HK$8,000,000, or an integral multiple of HK$4,000,000 in excess thereof; (C) Euro-Dollar Loans denominated in Singapore Dollars shall be in an aggregate principal amount of S$2,000,000, or an integral multiple of S$1,000,000 in excess thereof; (D) Euro-Dollar Loans denominated in Canadian Dollars shall be in an aggregate principal amount of CA$1,000,000, or an integral multiple of CA$500,000 in excess thereof; (E) Euro-Dollar Loans denominated in Euros shall be in an aggregate principal amount of €1,000,000, or an integral multiple of €500,000 in excess thereof; (F) Euro-Dollar Loans denominated in Pounds Sterling shall be in an aggregate principal amount of £500,000, or an integral multiple of £250,000 in excess thereof; and (G) Base Rate Loans shall be in an aggregate principal amount of $500,000, or an integral multiple of $100,000 in excess thereof; thereof (except that any such Borrowing may only be in the aggregate amount available in accordance with Section 4.2(b3.2(c), or in any amount required to reimburse the Fronting Bank for any drawing under any Letter of Credit); ) and each Borrowing in respect of the Tranche specified in the applicable Notice of Borrowing shall be made from the several Applicable Banks ratably in proportion to their respective Currency Commitments for such Tranche. Subject to the provisions of Section 2.15 hereof, in no event shall the aggregate Dollar Equivalent Amount of all Aggregate Loans outstanding at any time, plus the Dollar Equivalent Amount of Letter of Credit Usage, plus the Dollar Equivalent Amount of Rupee Letter of Credit Usage, exceed $500,000,000 (as adjusted pursuant to Section 2.15, the “Facility Amount”) except as provided in Section 2.10, nor shall the aggregate Dollar Equivalent Amount of all Loans in respect of a Tranche at any time outstanding, plus the Dollar Equivalent Amount of Letter of Credit Usage in respect of such Tranche, exceed the Tranche Commitment applicable to such Tranche, with all Loans denominated in Alternate Currencies being marked-to-market in the manner set forth in Section 2.10Commitments. Subject to the limitations set forth herein, any amounts repaid may be reborrowed. Notwithstanding anything to the contrary, the number of new Borrowings shall be limited to two Borrowings per month."
Appears in 1 contract
Sources: Revolving Credit Agreement (Carramerica Realty Corp)
Commitments to Lend. Each Bank severally agrees, on the terms and conditions set forth in this Agreement Agreement, to make Loans in Dollars or (in the case of Euro-Dollar Loans only) Alternate Currencies to the Borrower and to Qualified Borrowers and to participate in Letters of Credit issued by the Fronting Bank on behalf of the Borrower and Qualified Borrowers pursuant to this Article from time to time during the term hereof in amounts such that (i) the aggregate principal Dollar Equivalent Amount of Aggregate Committed Loans by such Bank at any one time outstanding together with (a) the Dollar Equivalent Amount of plus such Bank’s pro rata share Pro Rata Share of Swingline Loans outstanding together with such Bank’s Pro Rata Share of the Letter of Credit Usage at such time and (b) if applicable, the Dollar Equivalent Amount of such Bank’s Pro Rata Share of Rupee Letter of Credit Usage, shall not exceed the Dollar Equivalent Amount of its Commitment, and Commitment (ii) the aggregate Dollar Equivalent Amount of Loans by such Bank at any time outstanding in respect of a Tranche together with the Dollar Equivalent Amount of such Bank’s pro rata share of Letter of Credit Usage in respect of such Tranche shall not exceed the Dollar Equivalent Amount of its Currency Commitment for such Tranche; provided, that, in the case of a Euro-Dollar any Loan denominated in an Alternate Currency, (xi) such Alternate Currency is readily available to such Banks and is freely transferable and convertible to Dollars, (yii) except in the case of Canadian Dollars, the Reuters screen Monitor Money Rates Service (or any successor thereto) reports an a London Interbank Offered Rate, as applicable, Rate for such Alternate Currency relating to the applicable Interest Period, and (ziii) AMB LP Borrower shall then have an Investment Grade Rating from both S&P and M▇▇▇▇’▇). Each Borrowing outstanding under this Section 2.1 of: (A) Euro-Dollar Loans denominated in Dollars shall be in an aggregate principal amount Dollar Equivalent Amount of $1,000,0005,000,000 (or, with respect to an Alternate Currency Borrowing only, the Dollar Equivalent Amount of $3,000,000), or an integral multiple of the Dollar Equivalent Amount of $500,000 1,000,000 in excess thereof; (B) Euro-Dollar Loans denominated in Hong Kong Dollars shall be in an aggregate principal amount of HK$8,000,000, or an integral multiple of HK$4,000,000 in excess thereof; (C) Euro-Dollar Loans denominated in Singapore Dollars shall be in an aggregate principal amount of S$2,000,000, or an integral multiple of S$1,000,000 in excess thereof; (D) Euro-Dollar Loans denominated in Canadian Dollars shall be in an aggregate principal amount of CA$1,000,000, or an integral multiple of CA$500,000 in excess thereof; (E) Euro-Dollar Loans denominated in Euros shall be in an aggregate principal amount of €1,000,000, or an integral multiple of €500,000 in excess thereof; (F) Euro-Dollar Loans denominated in Pounds Sterling shall be in an aggregate principal amount of £500,000, or an integral multiple of £250,000 in excess thereof; and (G) Base Rate Loans shall be in an aggregate principal amount of $500,000, or an integral multiple of $100,000 in excess thereof; thereof (except that any such Borrowing may only be in the aggregate amount available in accordance with Section 4.2(b3.2(b), or in any amount required to reimburse the Fronting Bank for any drawing under any Letter of Credit); Credit or to repay the Swingline Lender the amount of any Swingline Loan) and, other than with respect to Money Market Loans and each Borrowing in respect of the Tranche specified in the applicable Notice of Borrowing Swingline Loans, shall be made from the several Applicable Banks ratably in proportion to their respective Currency Commitments for such TrancheCommitments. Subject to the provisions of Section 2.15 9.19 hereof, in no event shall the aggregate Dollar Equivalent Amount of all Aggregate Loans outstanding at any time, plus the outstanding Dollar Equivalent Amount of Letter of Credit Usage, plus the Dollar Equivalent Amount of Rupee Letter of Credit Usage, exceed $500,000,000 550,000,000 (as adjusted pursuant to Section 2.159.19, the “Facility Amount”) except as provided in Section 2.10, nor shall the aggregate Dollar Equivalent Amount of all Loans in respect of a Tranche at any time outstanding, plus the Dollar Equivalent Amount of Letter of Credit Usage in respect of such Tranche, exceed the Tranche Commitment applicable to such Tranche), with all Loans denominated in Alternate Currencies and Letter of Credit Usage for Alternate Currency Letters of Credit being marked-to-marked to market in monthly on the manner set forth in Section 2.10last Business Day of each month. Subject to the limitations set forth herein, any amounts repaid may be reborrowed.
Appears in 1 contract
Commitments to Lend. Each Bank severally agrees, on the terms and conditions set forth in this Agreement Agreement, to make the Tranche A Loans in Dollars or (in the case of Euro-Dollar Loans only) Alternate Currencies to the Borrowers ▇▇▇▇ and to CarrAmerica LP and participate in Letters of Credit issued by the Fronting Bank on behalf of the Borrowers ▇▇▇▇ or CarrAmerica LP pursuant to this Article Section from time to time time, but, together with the Tranche B Loans, not more frequently than four times monthly, during the term hereof Term in amounts such that (i) the aggregate Dollar Equivalent Amount principal amount of Aggregate Tranche A Loans by such Bank at any one time outstanding together with (a) the Dollar Equivalent Amount of such Bank’s 's pro rata share of Letter of Credit Usage at such time with respect to ▇▇▇▇ and (b) if applicable, CarrAmerica LP shall not exceed the Dollar Equivalent Amount amount of such Bank’s Pro Rata Share its Tranche A Commitment. The aggregate amount of Rupee Tranche A Loans to be made hereunder together with the Letter of Credit UsageUsage with respect to ▇▇▇▇ and CarrAmerica LP, shall not exceed Three Hundred Seventy-Six Million Dollars ($376,000,000) (the Dollar Equivalent Amount "Tranche A Loan Amount"). Each Bank severally agrees, on the terms and conditions set forth in this Agreement, to make the Tranche B Loans to ▇▇▇▇ ▇▇ and ▇▇▇▇ and participate in Letters of its CommitmentCredit issued by the Fronting Bank on behalf of ▇▇▇▇ ▇▇ pursuant to this Section from time to time, and (ii) but, together with the Tranche A Loans, not more frequently than four times monthly, during the Term in amounts such that the aggregate Dollar Equivalent Amount principal amount of Tranche B Loans by such Bank at any one time outstanding in respect of a Tranche outstanding, together with the Dollar Equivalent Amount of such Bank’s 's pro rata share of Letter of Credit Usage in with respect of such Tranche to ▇▇▇▇ ▇▇, shall not exceed the Dollar Equivalent Amount amount of its Currency Commitment for such Tranche; providedTranche B Commitment. The aggregate amount of Tranche B Loans to be made hereunder, that, in together with the case Letter of a Euro-Dollar Loan denominated in an Alternate Currency, (x) such Alternate Currency is readily available Credit Usage with respect to such Banks and is freely transferable and convertible to Dollars, (y) except in the case of Canadian Dollars, the Reuters screen (or any successor thereto) reports an Interbank Offered Rate, as applicable, for such Alternate Currency relating to the applicable Interest Period, and (z) AMB LP shall then have an Investment Grade Rating from both S&P and M▇▇▇▇ ▇’▇, shall not exceed Seventy-Four Million Dollars ($74,000,000) (the "Tranche B Loan Amount"). Each Borrowing outstanding under Section 2.1 of: this subsection (Aa) Euro-Dollar Loans denominated in Dollars shall be in an aggregate principal amount of at least $1,000,0002,500,000, or an integral multiple of $500,000 1,000,000 in excess thereof; (B) Euro-Dollar Loans denominated in Hong Kong Dollars shall be in an aggregate principal amount of HK$8,000,000, or an integral multiple of HK$4,000,000 in excess thereof; (C) Euro-Dollar Loans denominated in Singapore Dollars shall be in an aggregate principal amount of S$2,000,000, or an integral multiple of S$1,000,000 in excess thereof; (D) Euro-Dollar Loans denominated in Canadian Dollars shall be in an aggregate principal amount of CA$1,000,000, or an integral multiple of CA$500,000 in excess thereof; (E) Euro-Dollar Loans denominated in Euros shall be in an aggregate principal amount of €1,000,000, or an integral multiple of €500,000 in excess thereof; (F) Euro-Dollar Loans denominated in Pounds Sterling shall be in an aggregate principal amount of £500,000, or an integral multiple of £250,000 in excess thereof; and (G) Base Rate Loans shall be in an aggregate principal amount of $500,000, or an integral multiple of $100,000 in excess thereof; thereof (except that any such Borrowing may only be in the aggregate amount available in accordance with Section 4.2(b3.2(c), or in any amount required to reimburse the Fronting Bank for any drawing under any Letter of Credit); ) and each Borrowing in respect of the Tranche specified in the applicable Notice of Borrowing shall be made from the several Applicable Banks ratably in proportion to their respective Currency Commitments for such Tranche. Subject to the provisions of Section 2.15 hereof, in no event shall the aggregate Dollar Equivalent Amount of all Aggregate Loans outstanding at any time, plus the Dollar Equivalent Amount of Letter of Credit Usage, plus the Dollar Equivalent Amount of Rupee Letter of Credit Usage, exceed $500,000,000 (as adjusted pursuant to Section 2.15, the “Facility Amount”) except as provided in Section 2.10, nor shall the aggregate Dollar Equivalent Amount of all Loans in respect of a Tranche at any time outstanding, plus the Dollar Equivalent Amount of Letter of Credit Usage in respect of such Tranche, exceed the Tranche Commitment applicable to such Tranche, with all Loans denominated in Alternate Currencies being marked-to-market in the manner set forth in Section 2.10Commitments. Subject to the limitations set forth herein, any amounts repaid may be reborrowed. Notwithstanding anything to the contrary, the number of new Borrowings shall be limited to four Borrowings per month and no more than ten Borrowings shall be outstanding at any time.
Appears in 1 contract
Sources: Revolving Credit Agreement (Carramerica Realty Corp)
Commitments to Lend. Each Bank severally agrees, on the terms and conditions set forth in this Agreement Agreement, to make the Tranche A Loans in Dollars or (in the case of Euro-Dollar Loans only) Alternate Currencies to the Borrowers ▇▇▇▇ and to CarrAmerica LP and participate in Letters of Credit issued by the Fronting Bank on behalf of the Borrowers ▇▇▇▇ or CarrAmerica LP pursuant to this Article Section from time to time time, but, together with the Tranche B Loans, not more frequently than four times monthly, during the term hereof Term in amounts such that (i) the aggregate Dollar Equivalent Amount principal amount of Aggregate Tranche A Loans by such Bank at any one time outstanding together with (a) the Dollar Equivalent Amount of such Bank’s 's pro rata share of Letter of Credit Usage at such time with respect to ▇▇▇▇ and (b) if applicable, CarrAmerica LP shall not exceed the Dollar Equivalent Amount amount of such Bank’s Pro Rata Share its Tranche A Commitment. The aggregate amount of Rupee Tranche A Loans to be made hereunder together with the Letter of Credit UsageUsage with respect to ▇▇▇▇ and CarrAmerica LP, shall not exceed Three Hundred Seventy-Six Million Dollars ($376,000,000) (the Dollar Equivalent Amount "Tranche A Loan Amount"). Each Bank severally agrees, on the terms and conditions set forth in this Agreement, to make the Tranche B Loans to ▇▇▇▇ ▇▇ and ▇▇▇▇ and participate in Letters of its CommitmentCredit issued by the Fronting Bank on behalf of ▇▇▇▇ ▇▇ pursuant to this Section from time to time, and (ii) but, together with the Tranche A Loans, not more frequently than four times monthly, during the Term in amounts such that the aggregate Dollar Equivalent Amount principal amount of Tranche B Loans by such Bank at any one time outstanding in respect of a Tranche outstanding, together with the Dollar Equivalent Amount of such Bank’s 's pro rata share of Letter of Credit Usage in with respect of such Tranche to ▇▇▇▇ ▇▇, shall not exceed the Dollar Equivalent Amount amount of its Currency Commitment for such Tranche; providedTranche B Commitment. The aggregate amount of Tranche B Loans to be made hereunder, that, in together with the case Letter of a Euro-Dollar Loan denominated in an Alternate Currency, (x) such Alternate Currency is readily available Credit Usage with respect to such Banks and is freely transferable and convertible to Dollars, (y) except in the case of Canadian Dollars, the Reuters screen (or any successor thereto) reports an Interbank Offered Rate, as applicable, for such Alternate Currency relating to the applicable Interest Period, and (z) AMB LP shall then have an Investment Grade Rating from both S&P and M▇▇▇▇ ▇’▇, shall not exceed Seventy-Four Million Dollars ($74,000,000) (the "Tranche B Loan Amount"). Each Borrowing outstanding under Section 2.1 of: this subsection
(Aa) Euro-Dollar Loans denominated in Dollars shall be in an aggregate principal amount of at least $1,000,0002,500,000, or an integral multiple of $500,000 1,000,000 in excess thereof; (B) Euro-Dollar Loans denominated in Hong Kong Dollars shall be in an aggregate principal amount of HK$8,000,000, or an integral multiple of HK$4,000,000 in excess thereof; (C) Euro-Dollar Loans denominated in Singapore Dollars shall be in an aggregate principal amount of S$2,000,000, or an integral multiple of S$1,000,000 in excess thereof; (D) Euro-Dollar Loans denominated in Canadian Dollars shall be in an aggregate principal amount of CA$1,000,000, or an integral multiple of CA$500,000 in excess thereof; (E) Euro-Dollar Loans denominated in Euros shall be in an aggregate principal amount of €1,000,000, or an integral multiple of €500,000 in excess thereof; (F) Euro-Dollar Loans denominated in Pounds Sterling shall be in an aggregate principal amount of £500,000, or an integral multiple of £250,000 in excess thereof; and (G) Base Rate Loans shall be in an aggregate principal amount of $500,000, or an integral multiple of $100,000 in excess thereof; thereof (except that any such Borrowing may only be in the aggregate amount available in accordance with Section 4.2(b3.2(c), or in any amount required to reimburse the Fronting Bank for any drawing under any Letter of Credit); ) and each Borrowing in respect of the Tranche specified in the applicable Notice of Borrowing shall be made from the several Applicable Banks ratably in proportion to their respective Currency Commitments for such Tranche. Subject to the provisions of Section 2.15 hereof, in no event shall the aggregate Dollar Equivalent Amount of all Aggregate Loans outstanding at any time, plus the Dollar Equivalent Amount of Letter of Credit Usage, plus the Dollar Equivalent Amount of Rupee Letter of Credit Usage, exceed $500,000,000 (as adjusted pursuant to Section 2.15, the “Facility Amount”) except as provided in Section 2.10, nor shall the aggregate Dollar Equivalent Amount of all Loans in respect of a Tranche at any time outstanding, plus the Dollar Equivalent Amount of Letter of Credit Usage in respect of such Tranche, exceed the Tranche Commitment applicable to such Tranche, with all Loans denominated in Alternate Currencies being marked-to-market in the manner set forth in Section 2.10Commitments. Subject to the limitations set forth herein, any amounts repaid may be reborrowed. Notwithstanding anything to the contrary, the number of new Borrowings shall be limited to four Borrowings per month and no more than ten Borrowings shall be outstanding at any time.
Appears in 1 contract
Sources: Revolving Credit Agreement (Carramerica Realty Corp)
Commitments to Lend. Each Bank severally agrees, on the terms and conditions set forth in this Agreement Agreement, to make the Tranche A Loans in Dollars or (in the case of Euro-Dollar Loans only) Alternate Currencies to the Borrowers ▇▇▇▇ and to CarrAmerica LP and participate in Letters of Credit issued by the Fronting Bank on behalf of the Borrowers ▇▇▇▇ or CarrAmerica LP pursuant to this Article Section from time to time time, but, together with the Tranche B Loans, not more frequently than four times monthly, during the term hereof Term in amounts such that (i) the aggregate Dollar Equivalent Amount principal amount of Aggregate Tranche A Loans by such Bank at any one time outstanding together with (a) the Dollar Equivalent Amount of such Bank’s 's pro rata share of Letter of Credit Usage at such time with respect to ▇▇▇▇ and (b) if applicable, CarrAmerica LP shall not exceed the Dollar Equivalent Amount amount of such Bank’s Pro Rata Share its Tranche A Commitment. The aggregate amount of Rupee Tranche A Loans to be made hereunder together with the Letter of Credit UsageUsage with respect to ▇▇▇▇ and CarrAmerica LP, shall not exceed Three Hundred Fifty Million Dollars ($350,000,000) (the Dollar Equivalent Amount "Tranche A Loan Amount"). Each Bank severally agrees, on the terms and conditions set forth in this Agreement, to make the Tranche B Loans to ▇▇▇▇ ▇▇ and ▇▇▇▇ and participate in Letters of its CommitmentCredit issued by the Fronting Bank on behalf of ▇▇▇▇ ▇▇ pursuant to this Section from time to time, and (ii) but, together with the Tranche A Loans, not more frequently than four times monthly, during the Term in amounts such that the aggregate Dollar Equivalent Amount principal amount of Tranche B Loans by such Bank at any one time outstanding in respect of a Tranche outstanding, together with the Dollar Equivalent Amount of such Bank’s 's pro rata share of Letter of Credit Usage in with respect of such Tranche to ▇▇▇▇ ▇▇, shall not exceed the Dollar Equivalent Amount amount of its Currency Commitment for such Tranche; providedTranche B Commitment. The aggregate amount of Tranche B Loans to be made hereunder, that, in together with the case Letter of a Euro-Dollar Loan denominated in an Alternate Currency, (x) such Alternate Currency is readily available Credit Usage with respect to such Banks and is freely transferable and convertible to Dollars, (y) except in the case of Canadian Dollars, the Reuters screen (or any successor thereto) reports an Interbank Offered Rate, as applicable, for such Alternate Currency relating to the applicable Interest Period, and (z) AMB LP shall then have an Investment Grade Rating from both S&P and M▇▇▇▇ ▇’▇, shall not exceed One Hundred Million Dollars ($100,000,000) (the "Tranche B Loan Amount"). Each Borrowing outstanding under Section 2.1 of: this subsection (Aa) Euro-Dollar Loans denominated in Dollars shall be in an aggregate principal amount of at least $1,000,0002,500,000, or an integral multiple of $500,000 1,000,000 in excess thereof; (B) Euro-Dollar Loans denominated in Hong Kong Dollars shall be in an aggregate principal amount of HK$8,000,000, or an integral multiple of HK$4,000,000 in excess thereof; (C) Euro-Dollar Loans denominated in Singapore Dollars shall be in an aggregate principal amount of S$2,000,000, or an integral multiple of S$1,000,000 in excess thereof; (D) Euro-Dollar Loans denominated in Canadian Dollars shall be in an aggregate principal amount of CA$1,000,000, or an integral multiple of CA$500,000 in excess thereof; (E) Euro-Dollar Loans denominated in Euros shall be in an aggregate principal amount of €1,000,000, or an integral multiple of €500,000 in excess thereof; (F) Euro-Dollar Loans denominated in Pounds Sterling shall be in an aggregate principal amount of £500,000, or an integral multiple of £250,000 in excess thereof; and (G) Base Rate Loans shall be in an aggregate principal amount of $500,000, or an integral multiple of $100,000 in excess thereof; thereof (except that any such Borrowing may only be in the aggregate amount available in accordance with Section 4.2(b3.2(c), or in any amount required to reimburse the Fronting Bank for any drawing under any Letter of Credit); ) and each Borrowing in respect of the Tranche specified in the applicable Notice of Borrowing shall be made from the several Applicable Banks ratably in proportion to their respective Currency Commitments for such Tranche. Subject to the provisions of Section 2.15 hereof, in no event shall the aggregate Dollar Equivalent Amount of all Aggregate Loans outstanding at any time, plus the Dollar Equivalent Amount of Letter of Credit Usage, plus the Dollar Equivalent Amount of Rupee Letter of Credit Usage, exceed $500,000,000 (as adjusted pursuant to Section 2.15, the “Facility Amount”) except as provided in Section 2.10, nor shall the aggregate Dollar Equivalent Amount of all Loans in respect of a Tranche at any time outstanding, plus the Dollar Equivalent Amount of Letter of Credit Usage in respect of such Tranche, exceed the Tranche Commitment applicable to such Tranche, with all Loans denominated in Alternate Currencies being marked-to-market in the manner set forth in Section 2.10Commitments. Subject to the limitations set forth herein, any amounts repaid may be reborrowed. Notwithstanding anything to the contrary, the number of new Borrowings shall be limited to four Borrowings per month and no more than ten Borrowings shall be outstanding at any time.
Appears in 1 contract
Sources: Revolving Credit Agreement (Carramerica Realty Corp)
Commitments to Lend. Each Bank severally agrees, on the terms and conditions set forth in this Agreement Agreement, (a) to make Loans in Dollars or (in the case of Euro-Dollar Loans only) Alternate Currencies to the Borrower and to Qualified Borrowers and to participate in Letters of Credit issued by the Fronting Bank on behalf of the Borrower and Qualified Borrowers pursuant to this Article from time to time during the term hereof in amounts such that (i) the aggregate Dollar Equivalent Amount principal amount of Aggregate Committed Loans by such Bank at any one time outstanding plus such Bank's Pro Rata Share of Swingline Loans outstanding together with (a) the Dollar Equivalent Amount of such Bank’s 's pro rata share of the Letter of Credit Usage at such time and (b) if applicable, the Dollar Equivalent Amount of such Bank’s Pro Rata Share of Rupee Letter of Credit Usage, shall not exceed the Dollar Equivalent Amount of its Commitment, and (iib) in furtherance and clarification of the aggregate Dollar Equivalent Amount of Loans by such Bank at any time outstanding foregoing, as to Banks with an Alternate Currency Commitment only, to participate in respect of a Tranche together with the Dollar Equivalent Amount of such Bank’s pro rata share of Letter Alternate Currency Letters of Credit Usage in respect issued by the Fronting Bank on behalf of such Tranche shall not exceed the Dollar Equivalent Amount of its Currency Commitment for such Tranche; provided, that, in the case of a Borrower and Qualified Borrowers pursuant to this Article and to make Euro-Dollar Loan Loans to Borrower and Qualified Borrowers denominated in an any Alternate Currency, Currency (xprovided (i) such Alternate Currency is readily available to such Banks and is freely transferable and convertible to Dollars, (yii) except in the case of Canadian Dollars, the Reuters screen Monitor Money Rates Service (or any successor thereto) reports an a London Interbank Offered Rate, as applicable, Rate for such Alternate Currency relating to the applicable Interest Period, and (ziii) AMB LP Borrower shall then have an Investment Grade Rating from both S&P and M▇▇▇▇’▇'▇) at any time and from time to time during the Term, in an aggregate principal Dollar Equivalent Amount not to exceed such Bank's Alternate Currency Commitment. Each Borrowing outstanding under this Section 2.1 of: (A) Euro-Dollar Loans denominated in Dollars shall be in an aggregate principal amount Dollar Equivalent Amount of $1,000,0005,000,000 (or, with respect to an Alternate Currency Borrowing only, the Dollar Equivalent Amount of $3,000,000), or an integral multiple of the Dollar Equivalent Amount of $500,000 1,000,000 in excess thereof; (B) Euro-Dollar Loans denominated in Hong Kong Dollars shall be in an aggregate principal amount of HK$8,000,000, or an integral multiple of HK$4,000,000 in excess thereof; (C) Euro-Dollar Loans denominated in Singapore Dollars shall be in an aggregate principal amount of S$2,000,000, or an integral multiple of S$1,000,000 in excess thereof; (D) Euro-Dollar Loans denominated in Canadian Dollars shall be in an aggregate principal amount of CA$1,000,000, or an integral multiple of CA$500,000 in excess thereof; (E) Euro-Dollar Loans denominated in Euros shall be in an aggregate principal amount of €1,000,000, or an integral multiple of €500,000 in excess thereof; (F) Euro-Dollar Loans denominated in Pounds Sterling shall be in an aggregate principal amount of £500,000, or an integral multiple of £250,000 in excess thereof; and (G) Base Rate Loans shall be in an aggregate principal amount of $500,000, or an integral multiple of $100,000 in excess thereof; thereof (except that any such Borrowing may only be in the aggregate amount available in accordance with Section 4.2(b3.2(b), or in any amount required to reimburse the Fronting Bank for any drawing under any Letter of Credit); Credit or to repay the Swingline Lender the amount of any Swingline Loan) and, other than with respect to Money Market Loans and each Borrowing in respect of the Tranche specified in the applicable Notice of Borrowing Swingline Loans, shall be made from the several Applicable Banks ratably in proportion to their respective Currency Commitments for such TrancheCommitments. Subject to the provisions of Section 2.15 9.19 hereof, in no event shall (i) the aggregate Dollar Equivalent Amount of all Aggregate Loans outstanding at any time, plus the outstanding Dollar Equivalent Amount of Letter of Credit Usage, plus the Dollar Equivalent Amount of Rupee Letter of Credit Usage, exceed $500,000,000 (as adjusted pursuant to Section 2.159.19, the “"Facility Amount”"), or (ii) except as provided in Section 2.10, nor shall the aggregate Dollar Equivalent Amount amount of all Loans denominated in respect of a Tranche at any time outstanding, an Alternate Currency plus the Dollar Equivalent Amount of outstanding Letter of Credit Usage in respect for Alternate Currency Letters of such Tranche, Credit exceed the Tranche Commitment applicable to such TrancheAlternate Currency Sublimit, with all with, in the case of both clauses (i) and (ii), Loans denominated in Alternate Currencies and Letter of Credit Usage for Alternate Currency Letters of Credit being marked-to-marked to market monthly on the last Business Day of each month. Notwithstanding any other provision of this Agreement to the contrary, each Borrowing denominated in Dollars shall be deemed to use the Dollar Commitments to the extent the Dollar Sublimit would not be exceeded thereby, and to use the Alternate Currency Commitments if such Alternate Currency Commitments are available in the manner set forth in Section 2.10event that the Dollar Commitments would be so exceeded. Subject to the limitations set forth herein, any amounts repaid may be reborrowed.
Appears in 1 contract
Commitments to Lend. Each Bank severally agrees, on the terms and conditions set forth in this Agreement to make Loans in Dollars or (in the case of Euro-Dollar Loans only) Alternate Currencies to the Borrowers and to participate in Letters of Credit issued by the Fronting Bank on behalf of the Borrowers pursuant to this Article from time to time during the term hereof in amounts such that (i) the aggregate Dollar Equivalent Amount of Aggregate Loans by such Bank at any one time outstanding together with (a) the Dollar Equivalent Amount of such Bank’s pro rata share of Letter of Credit Usage at such time and (b) if applicable, the Dollar Equivalent Amount of such Bank’s Pro Rata Share of Rupee Letter of Credit Usage, shall not exceed the Dollar Equivalent Amount of its Commitment, Commitment and (ii) the aggregate Dollar Equivalent Amount principal amount of Loans by such Bank at any time outstanding in respect of a Tranche together with the Dollar Equivalent Amount of such Bank’s pro rata share of Letter of Credit Usage in respect of such Tranche shall not exceed the Dollar Equivalent Amount of its Currency Commitment for such Tranche; provided, that, in the case of a Euro-Dollar Loan denominated in an Alternate Currency, (x) such Alternate Currency is readily available to such Banks and is freely transferable and convertible to Dollars, (y) except in the case of Canadian Dollars, the Reuters screen (or any successor thereto) reports an Interbank Offered Rate, as applicable, Rate for such Alternate Currency relating to the applicable Interest Period, and (z) AMB LP shall then have an Investment Grade Rating from both S&P and M▇▇▇▇’▇. Each Borrowing outstanding under Section 2.1 of: (Aa) Euro-Dollar Loans denominated in Dollars shall be in an aggregate principal amount of $1,000,000, or an integral multiple of $500,000 in excess thereof; (Bb) Euro-Dollar Loans denominated in Hong Kong Dollars shall be in an aggregate principal amount of HK$8,000,000, or an integral multiple of HK$4,000,000 in excess thereof; (Cc) Euro-Dollar Loans denominated in Singapore Dollars shall be in an aggregate principal amount of S$2,000,000, or an integral multiple of S$1,000,000 in excess thereof; (Dd) Euro-Dollar Loans denominated in Canadian Dollars shall be in an aggregate principal amount of CA$1,000,000, or an integral multiple of CA$500,000 in excess thereof; (Ee) Euro-Dollar Loans denominated in Euros shall be in an aggregate principal amount of €€ 1,000,000, or an integral multiple of €500,000 in excess thereof; (F) Euro-Dollar Loans denominated in Pounds Sterling shall be in an aggregate principal amount of £500,000, or an integral multiple of £250,000 in excess thereof; and (Gf) Base Rate Loans shall be in an aggregate principal amount of $500,000, or an integral multiple of $100,000 in excess thereof; (except that any Borrowing may only be in the aggregate amount available in accordance with Section 4.2(b), or in any amount required to reimburse the Fronting Bank for any drawing under any Letter of Credit); and each Borrowing in respect of the Tranche specified in the applicable Notice of Borrowing shall be made from the several Applicable Banks ratably in proportion to their respective Currency Commitments for such Tranche. Subject to the provisions of Section 2.15 hereof, in no event shall the aggregate Dollar Equivalent Amount of all Aggregate Loans outstanding at any time, plus the outstanding Dollar Equivalent Amount of Letter of Credit Usage, plus the Dollar Equivalent Amount of Rupee Letter of Credit Usage, exceed $500,000,000 250,000,000 (as adjusted pursuant to Section 2.15, the “Facility Amount”) except as provided in Section 2.10, nor shall the aggregate Dollar Equivalent Amount of all Loans in respect of a Tranche at any time outstanding, plus the outstanding Dollar Equivalent Amount of Letter of Credit Usage in respect of such Tranche, exceed the Tranche Commitment applicable to such Tranche, with all Loans denominated in Alternate Currencies being marked-to-market in the manner set forth in Section 2.10. Subject to the limitations set forth herein, any amounts repaid may be reborrowed.
Appears in 1 contract
Commitments to Lend. (a) Each Bank severally agrees, on the terms and conditions set forth in this Agreement Agreement, (a) to make Committed Loans in Dollars or (in the case of Euro-Dollar Loans only) Alternate Currencies to the Borrowers Borrower and to participate in Letters of Credit issued by the Fronting Bank on behalf of the Borrowers Borrower pursuant to this Article from time to time during the term hereof in amounts Dollar Equivalent Amounts such that (i) the aggregate principal Dollar Equivalent Amount of Aggregate Committed Loans by such Bank at any one time outstanding together with (a) the Dollar Equivalent Amount of plus such Bank’s pro rata share Pro Rata Share of Swingline Loans outstanding together with such Bank’s Pro Rata Share of the Letter of Credit Usage at such time and (b) if applicable, the Dollar Equivalent Amount of such Bank’s Pro Rata Share of Rupee Letter of Credit Usage, shall not exceed the Dollar Equivalent Amount of its Commitment, and (iib) in furtherance and clarification of the foregoing, to participate in Alternate Currency Letters of Credit issued by the Fronting Bank on behalf of Borrower pursuant to this Article and to make Euro-Currency Loans to Borrower denominated in any Alternate Currency at any time and from time to time during the Term, in an aggregate principal Dollar Equivalent Amount of Loans by such Bank at any time outstanding in respect of a Tranche together with the Dollar Equivalent Amount of not to exceed such Bank’s pro rata share of Letter of Credit Usage in respect of such Tranche shall not exceed the Dollar Equivalent Amount of its Currency Commitment for such Tranche; provided, that, in the case of a Commitment. Each Euro-Dollar Loan denominated in an Alternate Currency, (x) such Alternate Currency is readily available to such Banks and is freely transferable and convertible to Dollars, (y) except in the case of Canadian Dollars, the Reuters screen (or any successor thereto) reports an Interbank Offered Rate, as applicable, for such Alternate Currency relating to the applicable Interest Period, and (z) AMB LP shall then have an Investment Grade Rating from both S&P and M▇▇▇▇’▇. Each Borrowing outstanding under this Section 2.1 of: (A) Euro-Dollar Loans denominated in Dollars shall be in an aggregate principal amount Dollar Equivalent Amount of approximately $5,000,000, or an integral multiple of a Dollar Equivalent Amount of approximately $1,000,000 in excess thereof, and each Base Rate Borrowing (or Borrowing bearing interest at the Offered Rate) shall be in an aggregate principal Dollar Equivalent Amount of approximately $1,000,000, or an integral multiple of a Dollar Equivalent Amount of approximately $500,000 1,000,000 in excess thereof; (B) Euro-Dollar Loans denominated in Hong Kong Dollars shall be in an aggregate principal amount of HK$8,000,000, or an integral multiple of HK$4,000,000 in excess thereof; (C) Euro-Dollar Loans denominated in Singapore Dollars shall be in an aggregate principal amount of S$2,000,000, or an integral multiple of S$1,000,000 in excess thereof; (D) Euro-Dollar Loans denominated in Canadian Dollars shall be in an aggregate principal amount of CA$1,000,000, or an integral multiple of CA$500,000 in excess thereof; (E) Euro-Dollar Loans denominated in Euros shall be in an aggregate principal amount of €1,000,000, or an integral multiple of €500,000 in excess thereof; (F) Euro-Dollar Loans denominated in Pounds Sterling shall be in an aggregate principal amount of £500,000, or an integral multiple of £250,000 in excess thereof; and (G) Base Rate Loans shall be in an aggregate principal amount of $500,000, or an integral multiple of $100,000 in excess thereof; thereof (except that any such Borrowing may only be in the aggregate amount available in accordance with Section 4.2(b3.2(b), or in any amount Dollar Equivalent Amount required to reimburse the Fronting Bank for any drawing under any Letter of Credit); Credit or to repay the Swingline Lender the amount of any Swingline Loan) and, other than with respect to Money Market Loans and each Borrowing in respect of the Tranche specified in the applicable Notice of Borrowing Swingline Loans, shall be made from the several Applicable Banks ratably in proportion to their respective Currency Commitments for such TrancheCommitments. Subject to the provisions of Section 2.15 hereof, in In no event shall the sum of the aggregate Dollar Equivalent Amount of all Aggregate Loans outstanding at any time, plus the Dollar Equivalent Amount of Letter of Credit Usage, plus the Dollar Equivalent Amount of Rupee Letter of Credit Usage, exceed $500,000,000 1,200,000,000 (as adjusted pursuant to paragraph (b) of this Section 2.152.1, Section 2.11(e) or as may otherwise be provided in this Agreement, the “Facility Amount”) except as provided in Section 2.10, nor shall the aggregate Dollar Equivalent Amount of all Loans in respect of a Tranche at any time outstanding, plus the Dollar Equivalent Amount of Letter of Credit Usage in respect of such Tranche, exceed the Tranche Commitment applicable to such Tranche, with all Loans denominated in Alternate Currencies being marked-to-market in the manner set forth in Section 2.10). Subject to the limitations set forth herein, any amounts repaid may be reborrowed.
Appears in 1 contract
Commitments to Lend. Each Bank severally agrees, on the terms and conditions set forth in this Agreement Agreement, (a) to make Loans in Dollars or (in the case of Euro-Dollar Loans only) Alternate Currencies to the Borrowers Borrower and to participate in Letters of Credit issued by the Fronting Bank on behalf of the Qualified Borrowers pursuant to this Article from time to time during the term hereof in amounts such that (i) the aggregate Dollar Equivalent Amount principal amount of Aggregate Committed Loans by such Bank at any one time outstanding plus such Bank’s Pro Rata Share of Swingline Loans outstanding at such time together with (a) the Dollar Equivalent Amount of such Bank’s pro rata share of the Letter of Credit Usage at such time and (b) if applicable, the Dollar Equivalent Amount of such Bank’s Pro Rata Share of Rupee Letter of Credit Usage, shall not exceed the Dollar Equivalent Amount of its Commitment, and (iib) in furtherance and clarification of the aggregate Dollar Equivalent Amount of Loans by such Bank at any time outstanding foregoing, as to Banks with an Alternate Currency Commitment only, to participate in respect of a Tranche together with the Dollar Equivalent Amount of such Bank’s pro rata share of Letter Alternate Currency Letters of Credit Usage in respect issued by the Fronting Bank on behalf of such Tranche shall not exceed Borrower or the Dollar Equivalent Amount of its Currency Commitment for such Tranche; provided, that, in the case of a Qualified Borrowers pursuant to this Article and to make Euro-Dollar Loan Loans to Borrower and to the Qualifed Borrowers denominated in an any Alternate Currency, Currency (xprovided (i) such Alternate Currency is readily available to such Banks and is freely transferable and convertible to Dollars, and (yii) except in the case of Canadian Dollars, the Reuters screen Monitor Money Rates Service (or any successor thereto) reports an a London Interbank Offered Rate, as applicable, Rate for such Alternate Currency relating to the applicable Interest Period, and (z) AMB LP shall then have in an Investment Grade Rating from both S&P and M▇▇▇▇’▇aggregate principal Dollar Equivalent Amount not to exceed such Bank’s Alternate Currency Commitment. Each Borrowing outstanding under this Section 2.1 of: (A) Euro-Dollar Loans denominated in Dollars shall be in an aggregate principal amount Dollar Equivalent Amount of $1,000,0005,000,000, or an integral multiple of $500,000 in excess thereof; (B) Euro-the Dollar Loans denominated in Hong Kong Dollars shall be in an aggregate principal amount of HK$8,000,000, or an integral multiple of HK$4,000,000 in excess thereof; (C) Euro-Dollar Loans denominated in Singapore Dollars shall be in an aggregate principal amount of S$2,000,000, or an integral multiple of S$1,000,000 in excess thereof; (D) Euro-Dollar Loans denominated in Canadian Dollars shall be in an aggregate principal amount of CA$1,000,000, or an integral multiple of CA$500,000 in excess thereof; (E) Euro-Dollar Loans denominated in Euros shall be in an aggregate principal amount of €1,000,000, or an integral multiple of €500,000 in excess thereof; (F) Euro-Dollar Loans denominated in Pounds Sterling shall be in an aggregate principal amount of £500,000, or an integral multiple of £250,000 in excess thereof; and (G) Base Rate Loans shall be in an aggregate principal amount of $500,000, or an integral multiple Equivalent Amount of $100,000 in excess thereof; thereof (except that any such Borrowing may only be in the aggregate amount available in accordance with Section 4.2(b3.2(b), or in any amount required to reimburse the Fronting Bank for any drawing under any Letter of Credit); Credit or to repay the Swingline Lender the amount of any Swingline Loan) and, other than with respect to Money Market Loans and each Borrowing in respect of the Tranche specified in the applicable Notice of Borrowing Swingline Loans, shall be made from the several Applicable Banks ratably in proportion to their respective Currency Commitments for such TrancheCommitments. Subject to the provisions of Section 2.15 2.1(b) hereof, in no event shall (i) the aggregate Dollar Equivalent Amount of all Aggregate Loans outstanding at any time, plus the outstanding Dollar Equivalent Amount of Letter of Credit Usage, plus the Dollar Equivalent Amount of Rupee Letter of Credit Usage, exceed $500,000,000 1,250,000,000 (as adjusted pursuant to Section 2.152.1(b), the “Facility Amount”), or (ii) except as provided in Section 2.10, nor shall the aggregate Dollar Equivalent Amount amount of all Loans denominated in respect of a Tranche at any time outstanding, an Alternate Currency plus the Dollar Equivalent Amount of outstanding Letter of Credit Usage in respect for Alternate Currency Letters of such Tranche, Credit exceed the Tranche Commitment applicable to such TrancheAlternate Currency Sublimit, with all with, in the case of both clauses (i) and (ii), Loans denominated in Alternate Currencies and Letter of Credit Usage for Alternate Currency Letters of Credit being marked-to-marked to market monthly on the last Business Day of each month. Notwithstanding any other provision of this Agreement to the contrary, each Borrowing denominated in Dollars shall be deemed to use the Dollar Commitments to the extent the Dollar Sublimit would not be exceeded thereby, and to use the Alternate Currency Commitments if such Alternate Currency Commitments are available in the manner set forth in Section 2.10event that the Dollar Commitments would be so exceeded. Subject to the limitations set forth herein, any amounts repaid may be reborrowed.
Appears in 1 contract
Sources: Revolving Credit Agreement (Eop Operating LTD Partnership)