Common use of Commitments to Lend Clause in Contracts

Commitments to Lend. Each Bank severally agrees, on the terms and conditions set forth in this Agreement, to make Loans in dollars and/or euros to the Company or any Eligible Borrower pursuant to this Section 2.01 from time to time during the Revolving Credit Period; provided that the Outstanding Amount (based in respect of any Loan denominated in euros by reference to the Equivalent thereof in dollars determined on the date of delivery of the applicable Notice of Borrowing) by such Bank at any one time outstanding to all Borrowers shall not exceed the amount of its Commitment, and the Aggregate Outstanding Amount (based in respect of any Loan denominated in euros by reference to the Equivalent thereof in dollars determined on the date of delivery of the applicable Notice of Borrowing) at any one time outstanding to all Borrowers shall not exceed the Aggregate Commitments. Each Borrowing under this Section 2.01 shall be in an aggregate principal of the Borrowing Minimum or any larger multiple of the Borrowing Multiple (except that any such Borrowing may be in the aggregate amount available in accordance with Section 3.02(c)) and shall be made from the several Banks ratably in proportion to their respective Commitments. Within the foregoing limits, the Borrowers may borrow under this Section 2.01, repay, or to the extent permitted by Section 2.10 prepay, Loans and reborrow at any time during the Revolving Credit Period under this Section 2.01. Notwithstanding the foregoing, no more than fifteen (15) Term Benchmark Borrowings shall be outstanding at any one time, and any Borrowing that would exceed such limitation shall be made as an ABR Borrowing.

Appears in 3 contracts

Samples: Revolving Credit Agreement (Eaton Corp PLC), Credit Agreement (Eaton Corp PLC), Day Revolving Credit Agreement (Eaton Corp PLC)

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Commitments to Lend. Each Bank severally agrees, on Subject to the terms and conditions set forth in this AgreementAgreement and so long as no Default or Event of Default under this Agreement has occurred and is continuing, to make Loans in dollars and/or euros to the Company or any Eligible Borrower pursuant to this Section 2.01 from time to time during the Revolving Credit Period; provided that , each Bank severally agrees to make such loans to Borrower (individually, a "Revolving Credit Loan" and collectively, the Outstanding Amount (based in respect of any Loan denominated in euros by reference "Revolving Credit Loans") as Borrower may from time to the Equivalent thereof in dollars determined on the date of delivery of the applicable Notice of Borrowing) by such Bank at any one time outstanding request pursuant to all Borrowers shall not exceed the amount of its Commitment, and the Aggregate Outstanding Amount (based in respect of any Loan denominated in euros by reference to the Equivalent thereof in dollars determined on the date of delivery of the applicable Notice of Borrowing) at any one time outstanding to all Borrowers shall not exceed the Aggregate CommitmentsSection 2.02. Each Borrowing Revolving Credit Loan under this Section 2.01 which is a Floating Rate Loan shall be in for an aggregate principal amount of the Borrowing Minimum at least $100,000.00 or any larger multiple of $25,000.00. Each Revolving Credit Loan under this Section 2.01 which is a LIBOR Loan shall be for an aggregate principal amount of at least $1,000,000.00 or any larger multiple of $500,000.00. The aggregate principal amount of Revolving Credit Loans which each Bank shall be required to have outstanding hereunder at any one time shall not exceed the Borrowing Multiple lesser of (except that any a) such Borrowing may be in Bank's Commitment or (b) such Bank's Pro Rata Share of the sum of (i) the total Commitments of all of the Banks, MINUS (ii) the aggregate principal amount available in accordance with of all outstanding Letter of Credit Loans MINUS (iii) the aggregate undrawn face amount of all outstanding Letters of Credit. Each Revolving Credit Loan under this Section 3.02(c)) and 2.01 shall be made from the several Banks ratably in proportion to their respective CommitmentsPro Rata Shares. Within the foregoing limits, the Borrowers Borrower may borrow under this Section 2.01, repay, or to the extent permitted by prepay under Section 2.10 prepay, Loans 2.08 and reborrow at any time during the Revolving Credit Period under this Section 2.01. Notwithstanding the foregoing, no more than fifteen (15) Term Benchmark Borrowings The failure of any Bank to make any Revolving Credit Loan required under this Agreement shall be outstanding at not release any one time, and any Borrowing that would exceed such limitation shall be made other Bank from its obligation to make Revolving Credit Loans as an ABR Borrowingprovided herein.

Appears in 2 contracts

Samples: Assignment and Assumption Agreement (Cpi Corp), Revolving Credit Agreement (Cpi Corp)

Commitments to Lend. Each From the date hereof to but not ------------------- including the Termination Date, each Bank severally agrees, on the terms and conditions set forth in this Agreement, to make Loans in dollars and/or euros lend to the Company or any Eligible Borrower pursuant to this Section 2.01 from time to time during amounts such that, upon giving effect to each such Borrowing: (i) the Revolving Credit Period; provided that the Outstanding then aggregate outstanding principal Dollar Amount (based in respect of any Loan denominated in euros by reference to the Equivalent thereof in dollars determined on the date of delivery of the applicable Notice of Borrowing) all Syndicated Loans made by such Bank at any one time outstanding to all Borrowers the Borrower shall not exceed the amount of its Commitment, such Bank's Commitment then in effect and (ii) the Aggregate Outstanding then aggregate outstanding principal Dollar Amount (based in respect of any Loan denominated in euros all Syndicated Loans and all Money Market Loans made by reference the Banks to the Equivalent thereof in dollars determined on the date of delivery of the applicable Notice of Borrowing) at any one time outstanding to all Borrowers Borrower shall not exceed the Aggregate Commitmentsaggregate amount of the Commitments then in effect. Each Borrowing under this Section 2.01 shall be in an aggregate principal amount of $10,000,000 (or the Borrowing Minimum Approximate Equivalent Amount thereof) or any a larger multiple of $1,000,000 (or the Borrowing Multiple Approximate Equivalent Amount thereof) (except that any such Borrowing may be in the aggregate amount available in accordance with Section 3.02(c)of the unused Commitments or the Equivalent Amount thereof) and shall be made from the several Banks ratably in proportion to their respective Commitments. Within the foregoing limits, the Borrowers Borrower may borrow under this Section 2.01, repay, or to the extent permitted by Section 2.10 prepay2.11, prepay Loans and reborrow under this Section 2.01 at any time during prior to the Revolving Credit Period under Termination Date. Subject to the preceding provisions of this Section 2.01. Notwithstanding , each Bank severally agrees to make Euro-Currency Loans in the foregoing, no more than fifteen (15) Term Benchmark Borrowings shall be outstanding at any one time, and any Borrowing that would exceed such limitation shall be made as an ABR BorrowingAgreed Currencies.

Appears in 2 contracts

Samples: Credit Agreement (Arco Chemical Co), Assignment and Assumption Agreement (Arco Chemical Co)

Commitments to Lend. Each Bank severally agrees, on the terms and conditions set forth in this Agreement, to make Loans in dollars and/or euros to the Company or any Eligible Borrower pursuant to this Section 2.01 from time to time during the Revolving Credit Period; provided that the Outstanding Amount (based in respect of any Loan denominated in euros by reference to the Equivalent thereof in dollars determined on the date of delivery of the applicable Notice of Borrowing) by such Bank at any one time outstanding to all Borrowers shall not exceed the amount of its Commitment, and the Aggregate Outstanding Amount (based in respect of any Loan denominated in euros by reference to the Equivalent thereof in dollars determined on the date of delivery of the applicable Notice of Borrowing) at any one time outstanding to all Borrowers shall not exceed the Aggregate Commitments. Each Borrowing under this Section 2.01 shall be in an aggregate principal of the Borrowing Minimum or any larger multiple of the Borrowing Multiple (except that any such Borrowing may be in the aggregate amount available in accordance with Section 3.02(c)) and shall be made from the several Banks ratably in proportion to their respective Commitments. Within the foregoing limits, the Borrowers may borrow under this Section 2.01, repay, or to the extent permitted by Section 2.10 prepay, Loans and reborrow at any time during the Revolving Credit Period under this Section 2.01. Notwithstanding the foregoing, no more than fifteen (15) Term Benchmark Eurocurrency Borrowings shall be outstanding at any one time, and any Borrowing that would exceed such limitation shall be made as an ABR Borrowing.

Appears in 2 contracts

Samples: Credit Agreement (Eaton Corp PLC), Revolving Credit Agreement (Eaton Corp PLC)

Commitments to Lend. (a) Each Bank severally agrees, on the terms and conditions set forth in this Agreement, (a) to make Committed Loans in dollars and/or euros to the Company Borrower or to any Eligible Qualified Borrower and participate in Letters of Credit issued by the Fronting Bank on behalf of the Borrower or the Qualified Borrowers pursuant to this Section 2.01 Article from time to time during the Revolving Credit Period; provided term hereof in amounts such that the Outstanding Amount (based in respect aggregate principal amount of any Loan denominated in euros by reference to the Equivalent thereof in dollars determined on the date Committed Loans plus such Bank’s Pro Rata Share of delivery of the applicable Notice of Borrowing) Swingline Loans by such Bank at any one time outstanding to all Borrowers together with such Bank’s Pro Rata Share of the Letter of Credit Usage shall not exceed the amount Dollar Equivalent Amount of its Commitment, and (b) in furtherance and clarification of the Aggregate Outstanding Amount (based foregoing, as to Banks with an Alternate Currency Commitment only, to participate in respect Alternate Currency Letters of any Loan Credit issued by the Fronting Bank on behalf of Borrower or the Qualified Borrowers pursuant to this Article and to make Euro-Dollar Loans to Borrower and to the Qualified Borrowers denominated in euros by reference any Alternate Currency (provided (i) such Alternate Currency is readily available to such Banks and is freely transferable and convertible to Dollars, and (ii) the Reuters Monitor Money Rates Service (or any successor thereto) reports a London Interbank Offered Rate for such Alternate Currency relating to the applicable Interest Period, in an aggregate principal Dollar Equivalent thereof in dollars determined on the date of delivery of the applicable Notice of Borrowing) at any one time outstanding Amount not to all Borrowers shall not exceed the Aggregate Commitmentssuch Bank’s Alternate Currency Commitment. Each Borrowing outstanding under this Section 2.01 2.1 shall be in an aggregate principal amount the Dollar Equivalent Amount of the Borrowing Minimum which is $3,000,000, or any larger an integral multiple of the Borrowing Multiple $100,000 in excess thereof (except that any such Borrowing may be in the aggregate amount available in accordance with Section 3.02(c3.2(b), or in any amount required to reimburse the Fronting Bank for any drawing under any Letter of Credit or to repay the Swingline Lender the amount of any Swingline Loan) and, other than with respect to Money Market Loans and Swingline Loans, shall be made from the several Banks ratably in proportion to their respective Commitments. Within In no event shall (i) the foregoing limitsaggregate Dollar Equivalent Amount of Loans outstanding at any time, plus outstanding Dollar Equivalent Amount of the Borrowers may borrow under this Section 2.01Letter of Credit Usage, repayexceed $1,500,000,000 (the “Facility Amount”), or (ii) the aggregate Dollar Equivalent Amount of Loans denominated in an Alternate Currency plus the outstanding aggregate Dollar Equivalent Amount of the Letter of Credit Usage for Alternate Currency Letters of Credit exceed the Alternate Currency Sublimit, 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 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, each Borrowing denominated in Dollars shall be deemed to use the Dollar Commitments to the extent permitted by Section 2.10 prepay, Loans and reborrow at any time during the Revolving Credit Period under this Section 2.01. Notwithstanding the foregoing, no more than fifteen (15) Term Benchmark Borrowings shall Dollar Sublimit would not be outstanding at any one timeexceeded thereby, and to use the Alternate Currency Commitments if such Alternate Currency Commitments are available in the event that the Dollar Commitments would be so exceeded. Subject to the limitations set forth herein, any Borrowing that would exceed such limitation shall amounts repaid may be made as an ABR Borrowingreborrowed.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Erp Operating LTD Partnership), Revolving Credit Agreement (Equity Residential)

Commitments to Lend. Each Bank During the Revolving Credit Period, each Lender severally agrees, on the terms and conditions set forth in this Agreement, to make Loans in dollars and/or euros loans to the Company or any Eligible Borrower pursuant to this Section 2.01 from time to time in Dollars in amounts such that (i) such Xxxxxx’s Outstanding Committed Amount shall not exceed its Commitment and (ii) the Total Outstanding Amount shall not exceed the Total Commitments. Within the foregoing limits, the Borrower may borrow under this Section, prepay Revolving Loans to the extent permitted by Section 2.09 and reborrow at any time during the Revolving Credit Period; provided that the Outstanding Amount (based in respect of any Loan denominated in euros by reference to the Equivalent thereof in dollars determined on the date of delivery of the applicable Notice of Borrowing) by such Bank at any one time outstanding to all Borrowers shall not exceed the amount of its Commitment, and the Aggregate Outstanding Amount (based in respect of any Loan denominated in euros by reference to the Equivalent thereof in dollars determined on the date of delivery of the applicable Notice of Borrowing) at any one time outstanding to all Borrowers shall not exceed the Aggregate CommitmentsPeriod under this Section. Each Borrowing under this Section 2.01 shall be in an aggregate principal amount of the Borrowing Minimum $5,000,000 or any larger multiple of the Borrowing Multiple $1,000,000 (except that any such Borrowing may be in the aggregate amount available in accordance with Section 3.02(c)3.02) and shall be made from the several Banks ratably Lenders in proportion respective amounts equal to their respective CommitmentsApplicable Percentages of such Borrowing. Within the foregoing limitsSubject to Section 8.02, the Borrowers may borrow under this Section 2.01, repay, each Revolving Borrowing shall be comprised entirely of Base Rate Loans or to the extent permitted by Section 2.10 prepay, Loans and reborrow at any time during the Revolving Credit Period under this Section 2.01. Notwithstanding the foregoing, no more than fifteen (15) Term Benchmark Borrowings Loans, as the Borrower may request in accordance herewith. Each Lender at its option may make any Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan; provided that any exercise of such option shall be outstanding at any one time, and any Borrowing that would exceed not affect the obligation of the Borrower to repay such limitation shall be made as an ABR BorrowingLoan in accordance with the terms of this Agreement.

Appears in 2 contracts

Samples: Credit Agreement (Martin Marietta Materials Inc), Credit Agreement (Martin Marietta Materials Inc)

Commitments to Lend. (a) Each Bank Tranche A Lender severally agrees, on the terms and conditions set forth in this Agreement, to make Loans in dollars and/or euros loans to the Company or any Eligible Borrower pursuant to this Section 2.01 from time to time during the Revolving Credit Period; provided that (A) no Tranche A Loan shall be made pursuant to this Section 2.01(a) (other than any Tranche A Loan made pursuant to Section 2.16(e)) at any time when the Total Tranche B Outstanding Amount is less than the Maximum Tranche B Availability and (based in respect of any Loan denominated in euros by reference to B) immediately after each such loan is made: (1) the Equivalent thereof in dollars determined on the date of delivery sum of the applicable Notice aggregate outstanding principal amount of Borrowingsuch Tranche A Lender’s Tranche A Loans plus the aggregate amount of such Tranche A Lender’s LC Exposure shall not exceed its Tranche A Commitment, (2) by such Bank at any one time outstanding to all Borrowers the Total Tranche A Outstanding Amount shall not exceed the amount of its Commitment, Maximum Tranche A Availability and (iii) the Aggregate Total Outstanding Amount (based in respect of any Loan denominated in euros by reference to the Equivalent thereof in dollars determined on the date of delivery of the applicable Notice of Borrowing) at any one time outstanding to all Borrowers shall not exceed the Aggregate CommitmentsMaximum Facility Availability. Each Subject to Section 2.02(c), each Borrowing under this Section 2.01 shall be in an aggregate principal amount of the Borrowing Minimum $5,000,000 or any larger multiple of the Borrowing Multiple $1,000,000 (except that (x) any such Borrowing may be in the aggregate amount available within the limitations in accordance with Section 3.02(c)the foregoing proviso and (y) any Base Rate Borrowing pursuant to ‎Section 2.16(e) may be in the amount specified therein) and shall be made from the several Banks Tranche A Lenders ratably in proportion to their respective Tranche A Commitments. Within the foregoing limits, the Borrowers Borrower may borrow under this Section 2.01Section, repay, or to the extent permitted by Section 2.10 prepay‎Section 2.11, prepay Tranche A Loans and reborrow at any time during the Revolving Credit Period re-borrow under this Section ‎Section 2.01. Notwithstanding the foregoing, no more than fifteen (15) Term Benchmark Borrowings shall be outstanding at any one time, and any Borrowing that would exceed such limitation shall be made as an ABR Borrowing.

Appears in 1 contract

Samples: Credit Agreement (United States Steel Corp)

Commitments to Lend. Each Bank Lender severally agrees, on the terms and conditions set forth in this Agreement, to make Loans in dollars and/or euros to the Company or any Eligible Borrower on the Effective Date and on the Second Funding Date pursuant to this Section 2.01 from time subsection in an amount not to time during exceed in the Revolving Credit Period; provided that the Outstanding Amount (based aggregate such Lender’s Commitment in respect of any Loan denominated in euros by reference to the Equivalent thereof in dollars determined effect on the date of delivery of such Borrowing. Each Additional Lender severally agrees, on the applicable Notice of Borrowing) by such Bank at any one time outstanding terms and conditions set forth in this Agreement, to all Borrowers shall not exceed the amount of its Commitment, and the Aggregate Outstanding Amount (based in respect of any Loan denominated in euros by reference make Loans to the Equivalent thereof in dollars determined Borrower on the date of delivery of Amendment Effective Date pursuant to this subsection in an amount not to exceed in the applicable Notice of Borrowing) at any one time outstanding to all Borrowers shall not exceed the Aggregate Commitmentsaggregate such Lender’s Commitment. Each Borrowing under this Section 2.01 shall be in an aggregate principal of the Borrowing Minimum or any larger multiple of the Borrowing Multiple (except that any such Borrowing may be in the aggregate amount available in accordance with Section 3.02(c)) and shall be made from the several Banks Lenders ratably in proportion to their respective CommitmentsCommitments in effect on the date of such Borrowing. Within the foregoing limits, the Borrowers may borrow Amounts borrowed under this Section 2.01, repay, ‎Section 2.01 and repaid or prepaid may not be reborrowed. Each Lender’s Commitment shall be permanently reduced by the amount of the Loans funded by such Lender on the date of such Borrowing. Each Lender’s (other than any Additional Lender’s) Commitment shall terminate immediately and without further action upon the earliest of (x) the Effective Date after giving effect to the funding of such Lender’s Loans on such date (and solely to the extent permitted by Section 2.10 prepaythe entire aggregate principal amount of such Lender’s Commitment is funded on such date), (y) the Second Funding Date after giving effect to the funding of such Lender’s Loans on such date and reborrow at any time during (z) the Revolving Credit Period under this Section 2.01. Notwithstanding the foregoing, no more than fifteen (15) Term Benchmark Borrowings shall be outstanding at any one time, and any Borrowing that would exceed such limitation shall be made as an ABR BorrowingCommitment Termination Date.

Appears in 1 contract

Samples: The Term Loan Credit Agreement (Progress Energy Inc)

Commitments to Lend. (a) Revolving Credit Loans. Each Bank severally agrees, on the terms and conditions set forth in this Agreementherein, to make Revolving Credit Loans in dollars and/or euros to the Company or any Eligible Borrower pursuant to this Section 2.01 from time to time during before the Revolving Credit PeriodMaturity Date; provided that that, immediately after each such Revolving Credit Loan is made, the Outstanding Amount (based in respect aggregate outstanding principal amount of any Loan denominated in euros by reference to the Equivalent thereof in dollars determined on the date of delivery of the applicable Notice of Borrowing) Revolving Credit Loans by such Bank at any one time outstanding to (together with, in the case of the Swing Line Lender, the aggregate principal amount of all Borrowers Swing Line Loans) shall not exceed the amount of its Revolving Credit Commitment, and provided further that the Aggregate Outstanding Amount (based in respect aggregate principal amount of any Loan denominated in euros by reference to all Revolving Credit Loans, together with the Equivalent thereof in dollars determined on the date aggregate principal amount of delivery of the applicable Notice of Borrowing) all Swing Line Loans, at any one time outstanding to all Borrowers shall not exceed the Aggregate Commitmentsaggregate amount of the Revolving Credit Commitments of all of the Banks at such time. Each Revolving Credit Borrowing that is a Euro-Dollar Borrowing under this Section 2.01 shall be in an aggregate principal amount of the Borrowing Minimum $2,500,000 or any larger multiple of the $500,000 and each Revolving Credit Borrowing Multiple that is a Base Rate Borrowing under this Section shall be in an aggregate principal amount of $1,000,000 or any larger multiple of $500,000 (except that any such Revolving Credit Borrowing may be in the aggregate amount available in accordance with Section 3.02(c)of the Total Unused Revolving Credit Commitments) and shall be made from the several Banks ratably in proportion to their respective Revolving Credit Commitments. Within the foregoing limits, the Borrowers Borrower may borrow under this Section 2.012.01(a), repayrepay or, or to the extent permitted by Section 2.10 prepay2.09, prepay Revolving Credit Loans and reborrow under this Section 2.01(a) at any time during before the Revolving Credit Period under this Section 2.01. Notwithstanding the foregoing, no more than fifteen (15) Term Benchmark Borrowings shall be outstanding at any one time, and any Borrowing that would exceed such limitation shall be made as an ABR BorrowingMaturity Date.

Appears in 1 contract

Samples: Credit Agreement (Cadmus Communications Corp/New)

Commitments to Lend. Each Bank severally agrees, on the terms and conditions set forth in of this Agreement, to make Loans in dollars and/or euros loans to the Company or any Eligible Borrower pursuant and to this Section 2.01 from time Approved Subsidiary Borrowers in Dollars and in Agreed Foreign Currencies, ratably in proportion to time the respective unutilized Commitments of the Banks, during the Revolving Credit Period; provided that period from and including the Outstanding Amount (based in respect of any Loan denominated in euros by reference Effective Date to but not including the Equivalent thereof in dollars determined on the date of delivery of the applicable Notice of Borrowing) by Termination Date for such Bank in an aggregate principal amount at any one time outstanding up to but not exceeding the amount of the unutilized Commitment of such Bank as in effect from time to time, provided that, immediately after each such Loan is made, (i) the aggregate amount of all Borrowers shall Letter of Credit Exposures, together with the aggregate principal amount of all Committed Loans and Negotiated Rate Loans, may not exceed the aggregate amount of its Commitment, the Commitments as in effect from time to time and (ii) the Aggregate Outstanding Amount (based in respect aggregate amount of any Loan denominated in euros by reference to Bank's Letter of Credit Exposure, together with the Equivalent thereof in dollars determined on the date aggregate unpaid principal amount of delivery of the applicable Notice of Borrowing) at any one time outstanding to all Borrowers shall such Bank's Committed Loans and Negotiated Rate Loans, may not exceed the Aggregate Commitmentsaggregate amount of such Bank's Commitment. Each Borrowing under Subject to the terms and conditions of this Section 2.01 shall be in an aggregate principal Agreement, during such period the Company and any such Approved Subsidiary Borrowers may borrow, repay and reborrow the amount of the Borrowing Minimum or Commitments by means of Base Rate Loans in Dollars and Euro-Currency Loans in any larger multiple of the Borrowing Multiple (except Agreed Foreign Currency; provided that any such Borrowing may be in the aggregate amount available in accordance with Section 3.02(c)) and shall be made from the several Banks ratably in proportion to their respective Commitments. Within the foregoing limits, the Borrowers may borrow under this Section 2.01, repay, or to the extent permitted by Section 2.10 prepay, Loans and reborrow at any time during the Revolving Credit Period under this Section 2.01. Notwithstanding the foregoing, no more than fifteen twenty (1520) Term Benchmark Borrowings shall separate Interest Periods for both Euro-Currency Loans and Competitive Loans may be outstanding at any one timethe same time (for which purpose Interest Periods described in different lettered clauses of the definition of the term `Interest Period', and any Borrowing that would exceed such limitation Interest Period for Loans in different Currencies, shall be made as an ABR Borrowingdeemed to be different Interest Periods even if they are coterminous).

Appears in 1 contract

Samples: Credit Agreement (Honeywell Inc)

Commitments to Lend. Each Bank severally agrees, on the terms and conditions set forth in this Agreement, (a) to make Loans in dollars and/or euros to the Company or any Eligible Borrower and to Qualified Borrowers and participate in Letters of Credit issued by the Fronting Bank on behalf of the Borrower and Qualified Borrowers pursuant to this Section 2.01 Article from time to time during the Revolving Credit Period; provided term hereof in amounts such that the Outstanding Amount (based in respect aggregate principal amount of any Loan denominated in euros by reference to the Equivalent thereof in dollars determined on the date of delivery of the applicable Notice of Borrowing) Committed Loans by such Bank at any one time outstanding to all Borrowers plus such Bank's Pro Rata Share of Swingline Loans outstanding together with such Bank's pro rata share of the Letter of Credit Usage at such time shall not exceed the amount Dollar Equivalent Amount of its Commitment, and (b) in furtherance and clarification of the Aggregate Outstanding Amount (based foregoing, as to Banks with an Alternate Currency Commitment only, to participate in respect Alternate Currency Letters of any Loan Credit issued by the Fronting Bank on behalf of Borrower and Qualified Borrowers pursuant to this Article and to make Euro-Dollar Loans to Borrower and Qualified Borrowers denominated in euros by reference any Alternate Currency (provided (i) such Alternate Currency is readily available to such Banks and is freely transferable and convertible to Dollars, (ii) the Reuters Monitor Money Rates Service (or any successor thereto) reports a London Interbank Offered Rate for such Alternate Currency relating to the Equivalent thereof in dollars determined on the date of delivery of the applicable Notice of BorrowingInterest Period, and (iii) Borrower shall then have an Investment Grade Rating from both S&P and Moody's) at any one time outstanding and from time to all Borrowers shall time during the Term, in an aggxxxxxx principal Dollar Equivalent Amount not to exceed the Aggregate Commitmentssuch Bank's Alternate Currency Commitment. Each Borrowing outstanding under this Section 2.01 2.1 shall be in an aggregate principal Dollar Equivalent Amount of $5,000,000 (or, with respect to an Alternate Currency Borrowing only, the Borrowing Minimum Dollar Equivalent Amount of $3,000,000), or any larger an integral multiple of the Borrowing Multiple Dollar Equivalent Amount of $1,000,000 in excess thereof (except that any such Borrowing may be in the aggregate amount available in accordance with Section 3.02(c3.2(b), or in any amount required to reimburse the Fronting Bank for any drawing under any Letter of Credit or to repay the Swingline Lender the amount of any Swingline Loan) and, other than with respect to Money Market Loans and Swingline Loans, shall be made from the several Banks ratably in proportion to their respective Commitments. Within Subject to the foregoing limitsprovisions of Section 9.19 hereof, in no event shall (i) the aggregate Dollar Equivalent Amount of Loans outstanding at any time, plus outstanding Dollar Equivalent Amount of the Letter of Credit Usage, exceed $500,000,000 (as adjusted pursuant to Section 9.19, the Borrowers may borrow under this Section 2.01, repay"Facility Amount"), or (ii) the aggregate amount of Loans denominated in an Alternate Currency plus the outstanding Letter of Credit Usage for Alternate Currency Letters of Credit exceed the Alternate Currency Sublimit, 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 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 permitted by Section 2.10 prepay, Loans and reborrow at any time during the Revolving Credit Period under this Section 2.01. Notwithstanding the foregoing, no more than fifteen (15) Term Benchmark Borrowings shall Dollar Sublimit would not be outstanding at any one timeexceeded thereby, and to use the Alternate Currency Commitments if such Alternate Currency Commitments are available in the event that the Dollar Commitments would be so exceeded. Subject to the limitations set forth herein, any Borrowing that would exceed such limitation shall amounts repaid may be made as an ABR Borrowingreborrowed.

Appears in 1 contract

Samples: Revolving Credit Agreement (Amb Property Corp)

Commitments to Lend. Each Bank severally agrees, on the terms and conditions set forth in this Agreement, to make the Committed Loans to Borrower and participate in dollars and/or euros to Letters of Credit issued by the Company or any Eligible Fronting Bank on behalf of Borrower pursuant to this Section 2.01 2.16 from time to time during the Revolving Credit Period; provided Term in amounts such that the Outstanding Amount sum of (based in respect i) the aggregate principal amount of any Loan denominated in euros by reference to the Equivalent thereof in dollars determined on the date of delivery of the applicable Notice of Borrowing) Committed Loans by such Bank at any one time outstanding to all Borrowers outstanding, plus (ii) such Bank’s pro rata share of Letter of Credit Usage shall not exceed the amount of such Bank’s Commitment (in no event shall a Bank’s participation in a Money Market Loan reduce a Bank’s Commitment). The aggregate amount of Committed Loans to be made hereunder together with the aggregate pro rata share of principal amount of Money Market Loans participated in by such Bank (or its Commitment, Designated Bank) and the Aggregate Outstanding Amount (based in respect Letter of any Loan denominated in euros by reference to the Equivalent thereof in dollars determined on the date of delivery of the applicable Notice of Borrowing) at any one time outstanding to all Borrowers Credit Usage shall not exceed the Aggregate Commitmentsaggregate Commitments of the Banks. Each Committed Borrowing under this Section 2.01 2.1 shall be in an aggregate principal amount of the Borrowing Minimum at least $2,500,000, or any larger an integral multiple of the Borrowing Multiple $1,000,000 in excess thereof (except that any such Borrowing may be in the aggregate amount available in accordance with Section 3.02(c3.2(c)) and and, other than with respect to Money Market Loans, shall be made from the several Banks ratably in proportion to their respective Commitments. Within Subject to the foregoing limitslimitations set forth herein, any amounts repaid may be reborrowed. Notwithstanding anything to the contrary, the Borrowers may borrow under this Section 2.01, repay, or number of new Borrowings shall be limited to the extent permitted by Section 2.10 prepay, Loans four Borrowings per month and reborrow at any time during the Revolving Credit Period under this Section 2.01. Notwithstanding the foregoing, no more than fifteen (15) Term Benchmark ten Borrowings shall be outstanding at any one time, and any Borrowing that would exceed such limitation shall be made as an ABR Borrowing.

Appears in 1 contract

Samples: Revolving Credit Agreement (Carramerica Realty Corp)

Commitments to Lend. (a) Each Bank Revolving Lender severally agrees, on the terms and conditions set forth in this Agreement, to make Loans in dollars and/or euros lend to the Company or any Eligible Borrower pursuant to this Section 2.01 from time to time during revolving credit loans (each a "Revolving Loan" and, collectively, the "Revolving Loans") not to exceed in the aggregate at any time outstanding, when added to the amount of such Revolving Lender's Participating Interest in the then outstanding L/C Obligations, the amount of its Revolving Commitment, which Revolving Commitments of all of the Revolving Credit Period; provided that the Outstanding Amount (based in respect of any Loan denominated in euros by reference to the Equivalent thereof in dollars determined on the date of delivery of the applicable Notice of Borrowing) by such Bank at any one time outstanding to all Borrowers Lenders shall not exceed the aggregate principal amount of its Commitment$135,000,000, as the same may be reduced from time to time pursuant to Sections 2.7 and the Aggregate Outstanding Amount (based in respect of any Loan denominated in euros by reference to the Equivalent thereof in dollars determined on the date of delivery of the applicable Notice of Borrowing) at any one time outstanding to all Borrowers shall not exceed the Aggregate Commitments2.8. Each Borrowing under this Section 2.01 subsection (a) shall (i) be in an aggregate principal amount of the Borrowing Minimum $5,000,000 or any larger multiple of the Borrowing Multiple $1,000,000 (except that any such a CIBC Alternate Base Rate Borrowing may be in the aggregate amount available in accordance with Section 3.02(c)of the then unused Revolving Commitments) and shall be (ii) consist of Revolving Loans of the same Type made from on the same Borrowing Date by the several Banks Revolving Lenders ratably in proportion to their respective Revolving Commitments. Within the foregoing limits, the Borrowers The Borrower may borrow Revolving Loans under this Section 2.01subsection (a) and, repay, or to the extent permitted by Section 2.10 prepay2.9, prepay Revolving Loans and reborrow Revolving Loans at any time during prior to the Maturity Date and shall repay all outstanding Revolving Loans on the Maturity Date; provided, that except as permitted in Section 2.2(e), the Borrower may not repay or prepay Revolving Loans at any time when Swingline Loans are outstanding unless it has first repaid or prepaid, as the case may be, any outstanding Swingline Loans. Without limiting its obligations under Section 2.8, the Borrower hereby unconditionally promises to pay the unpaid principal amount of the Revolving Credit Period under this Section 2.01. Notwithstanding Loans on the foregoing, no more than fifteen (15) Term Benchmark Borrowings shall be outstanding at any one time, and any Borrowing that would exceed such limitation shall be made as an ABR BorrowingMaturity Date.

Appears in 1 contract

Samples: Credit Agreement (Payless Cashways Inc)

Commitments to Lend. (a) Each Bank severally agrees, on the terms and conditions set forth in this Agreement, to make Committed Loans in dollars and/or euros to the Company or any Eligible Borrower and participate in Letters of Credit issued by the Fronting Bank on behalf of the Borrower pursuant to this Section 2.01 Article from time to time during the Revolving Credit Period; provided term hereof in amounts such that the Outstanding Amount (based in respect aggregate principal amount of any Loan denominated in euros by reference to the Equivalent thereof in dollars determined on the date Committed Loans plus such Bank’s Pro Rata Share of delivery of the applicable Notice of Borrowing) Swingline Loans by such Bank at any one time outstanding to all Borrowers together with such Bank’s Pro Rata Share of the Letter of Credit Usage shall not exceed the amount of its Commitment, and the Aggregate Outstanding Amount (based in respect of any Loan denominated in euros by reference to the Equivalent thereof in dollars determined on the date of delivery of the applicable Notice of Borrowing) at any one time outstanding to all Borrowers shall not exceed the Aggregate Commitments. Each Borrowing outstanding under this Section 2.01 2.1 shall be in an aggregate principal amount of the Borrowing Minimum $3,000,000, or any larger an integral multiple of the Borrowing Multiple $100,000 in excess thereof (except that any such Borrowing may be in the aggregate amount available in accordance with Section 3.02(c3.2(b), or in any amount required to reimburse the Fronting Bank for any drawing under any Letter of Credit or to repay the Swingline Lender the amount of any Swingline Loan) and, other than with respect to Money Market Loans and Swingline Loans, shall be made from the several Banks ratably in proportion to their respective Commitments. Within In no event shall the foregoing limits, the Borrowers may borrow under this Section 2.01, repay, or to the extent permitted by Section 2.10 prepay, aggregate Loans and reborrow at any time during the Revolving Credit Period under this Section 2.01. Notwithstanding the foregoing, no more than fifteen (15) Term Benchmark Borrowings shall be outstanding at any one time, and plus outstanding Letter of Credit Usage, exceed $1,000,000,000, as the same may be reduced from time to time as a result of cancellation of Commitments by Borrower, or increased pursuant to Section 2.1(b) hereof. Subject to the limitations set forth herein, any Borrowing that would exceed such limitation shall amounts repaid may be made as an ABR Borrowingreborrowed.

Appears in 1 contract

Samples: Revolving Credit Agreement (Equity Residential)

Commitments to Lend. Each Bank severally agrees, on (a) Subject to the terms and conditions set forth in this AgreementAgreement and so long as no Default or Event of Default under this Agreement has occurred and is continuing, to make Loans in dollars and/or euros to the Company or any Eligible Borrower pursuant to this Section 2.01 from time to time during the Revolving Credit Period; provided that , each Bank severally agrees to make such loans to Borrower (individually, a "Revolving Credit Loan" and collectively, the Outstanding Amount (based in respect of any Loan denominated in euros by reference "Revolving Credit Loans") as Borrower may from time to the Equivalent thereof in dollars determined on the date of delivery of the applicable Notice of Borrowing) by such Bank at any one time outstanding request pursuant to all Borrowers shall not exceed the amount of its Commitment, and the Aggregate Outstanding Amount (based in respect of any Loan denominated in euros by reference to the Equivalent thereof in dollars determined on the date of delivery of the applicable Notice of Borrowing) at any one time outstanding to all Borrowers shall not exceed the Aggregate CommitmentsSection 2.02. Each Borrowing Revolving Credit Loan under this Section 2.01 which is a Prime Loan shall be in for an aggregate principal amount of the Borrowing Minimum at least $200,000.00 or any larger multiple of $50,000.00. Each Revolving Credit Loan under this Section 2.01 which is a LIBOR Loan shall be for an aggregate principal amount of at least $2,000,000.00 or any larger multiple of $500,000.00. The aggregate principal amount of Revolving Credit Loans which each Bank shall be required to have outstanding under this Agreement at any one time shall not exceed the lesser of (a) such Bank's Commitment at such time or (b) such Bank's Pro Rata Share of the lesser of (i) the sum of (A) the total Commitments of all of the Banks at such time minus (B) the aggregate principal amount of all Letter of Credit Loans outstanding at such time minus (C) the aggregate undrawn face amount of all Letters of Credit outstanding at such time or (ii) the sum of (A) the Borrowing Multiple Base at such time minus (except that any such Borrowing may be in B) the aggregate principal amount available in accordance with of all Letter of Credit Loans outstanding at such time minus (C) the aggregate undrawn face amount of all standby Letters of Credit outstanding at such time. Each Revolving Credit Loan under this Section 3.02(c)) and 2.01 shall be made from the several Banks ratably in proportion to their respective CommitmentsPro Rata Shares. Within the foregoing limits, the Borrowers Borrower may borrow under this Section 2.01, repay, or to the extent permitted by prepay under Section 2.10 prepay, Loans 2.08 and reborrow at any time during the Revolving Credit Period under this Section 2.01. Notwithstanding the foregoing, no more than fifteen (15) Term Benchmark Borrowings The failure of any Bank to make any Revolving Credit Loan required under this Agreement shall be outstanding at not release any one time, and any Borrowing that would exceed such limitation shall be made other Bank from its obligation to make Revolving Credit Loans as an ABR Borrowingprovided herein.

Appears in 1 contract

Samples: Revolving Credit Agreement (Huntco Inc)

Commitments to Lend. (a) Each Bank severally agrees, on the terms and conditions set forth in this Agreement, (a) to make Committed Loans in dollars and/or euros to the Company Borrower or to any Eligible Qualified Borrower and participate in Letters of Credit issued by any Fronting Bank on behalf of the Borrower or the Qualified Borrowers pursuant to this Section 2.01 Article from time to time during the Revolving Credit Period; provided Term in amounts such that the Outstanding Amount (based in respect aggregate principal amount of any Loan denominated in euros by reference to the Equivalent thereof in dollars determined on the date of delivery of the applicable Notice of Borrowing) Committed Loans made by such Bank at any one time outstanding to all Borrowers plus such Bank’s Pro Rata Share of the Letter of Credit Usage shall not exceed the amount of its Commitment, and (b) in furtherance and clarification of the Aggregate Outstanding Amount (based foregoing, as to Banks with an Alternative Currency Commitment only, to participate in respect Alternative Currency Letters of Credit issued by any Loan Fronting Bank on behalf of the Borrower or the Qualified Borrowers pursuant to this Article and to make Alternative Currency Loans to the Borrower or to any Qualified Borrower denominated in euros by reference any Alternative Currency (provided such Alternative Currency is an Eligible Currency), in an aggregate principal amount not to the Equivalent thereof in dollars determined on the date of delivery of the applicable Notice of Borrowing) at any one time outstanding to all Borrowers shall not exceed the Aggregate Commitmentssuch Bank’s Alternative Currency Commitment. Each Borrowing outstanding under this Section 2.01 2.1 shall be in an aggregate principal amount the Dollar Equivalent of the Borrowing Minimum which is $3,000,000, or any larger an integral multiple of the Borrowing Multiple $100,000 in excess thereof (except that any such Borrowing may be in the aggregate unused amount available of the applicable Commitments, or in accordance any amount required to reimburse the applicable Fronting Bank for any drawing under any Letter of Credit) and, other than with Section 3.02(c)) and respect to Competitive Bid Loans, shall be made from the several Banks ratably in proportion to their respective Commitments. Within In no event shall (i) the foregoing limitsDollar Equivalent of the aggregate amount of Loans outstanding at any time, plus the Dollar Equivalent of the outstanding amount of the Letter of Credit Usage, exceed $2,500,000,000 (or, if the Borrower exercises its option to increase the aggregate amount of the Dollar Commitments pursuant to Section 2.1(b), the Borrowers may borrow under this Section 2.01, repayaggregate amount of the Commitments as so increased), or (ii) the Dollar Equivalent of the aggregate amount of Loans denominated in an Alternative Currency plus the Dollar Equivalent of the outstanding aggregate amount of the Letter of Credit Usage for Alternative Currency Letters of Credit exceed the Alternative Currency Sublimit. Notwithstanding any other provision of this Agreement to the contrary, each Borrowing and Letter of Credit denominated in Dollars shall be deemed to use the Dollar Commitments to the extent permitted by Section 2.10 prepay, Loans and reborrow at any time during the Revolving Credit Period under this Section 2.01. Notwithstanding the foregoing, no more than fifteen (15) Term Benchmark Borrowings shall Dollar Sublimit would not be outstanding at any one timeexceeded thereby, and to use the Alternative Currency Commitments if such Alternative Currency Commitments are available in the event that the Dollar Commitments would be so exceeded. Subject to the limitations set forth herein, any Borrowing that would exceed such limitation shall amounts repaid may be made as an ABR Borrowingreborrowed.

Appears in 1 contract

Samples: Revolving Credit Agreement (Erp Operating LTD Partnership)

Commitments to Lend. Each Bank Lender severally agrees, on the terms and conditions set forth in this Agreementherein, to make Revolving Credit Loans in dollars and/or euros to the Company or Borrower in any Eligible Borrower pursuant to this Section 2.01 Currency from time to time during before the Revolving Credit PeriodMaturity Date; provided that that, based upon the Outstanding Amount (based in respect Dollar Equivalent of any Alternate Currency Loans made, (i) immediately after each such Revolving Credit Loan denominated is made, the aggregate outstanding principal amount of Revolving Credit Loans by such Lender (together with, in euros by reference to the Equivalent thereof in dollars determined on the date of delivery case of the applicable Notice Swing Line Lender, the aggregate principal amount of Borrowingall Swing Line Loans) by such Bank at any one time outstanding to all Borrowers plus its pro rata share of the Letter of Credit Obligations shall not exceed the amount of its Revolving Credit Commitment, (ii) the aggregate principal amount of all Revolving Credit Loans, together with the aggregate principal amount of all Swing Line Loans and the Aggregate Outstanding Amount (based in respect Letter of any Loan denominated in euros by reference to the Equivalent thereof in dollars determined on the date of delivery of the applicable Notice of Borrowing) Credit Obligations, at any one time outstanding to all Borrowers shall not exceed the Aggregate Commitmentsaggregate amount of the Revolving Credit Commitments of all of the Lenders at such time, and (iii) the aggregate principal amount of all Alternate Currency Loans at any one time outstanding shall not exceed the Alternate Currency Commitment at such time. Each Revolving Credit Borrowing that is a Eurocurrency Borrowing under this Section 2.01 Section, denominated in Dollars or an Alternate Currency, shall be in an aggregate principal amount of the Borrowing Minimum $2,500,000 or any larger multiple of $500,000 (or with respect to Eurocurrency Borrowings denominated in an Alternate Currency, the Alternate Currency Equivalent in each case thereof) and each Revolving Credit Borrowing Multiple that is a Base Rate Borrowing under this Section shall be in an aggregate principal amount of $1,000,000 or any larger multiple of $500,000 (except that any such Revolving Credit Borrowing may be in the aggregate amount available in accordance with Section 3.02(c)of the Total Unused Revolving Credit Commitments) and shall be made from the several Banks Lenders ratably in proportion to their respective Revolving Credit Commitments. Within the foregoing limits, the Borrowers Borrower may borrow under this Section 2.01, repayrepay or, or to the extent permitted by Section 2.10 prepay2.09, prepay Revolving Credit Loans and reborrow under this Section 2.01 at any time during before the Revolving Credit Period under this Section 2.01. Notwithstanding the foregoing, no more than fifteen (15) Term Benchmark Borrowings shall be outstanding at any one time, and any Borrowing that would exceed such limitation shall be made as an ABR BorrowingMaturity Date.

Appears in 1 contract

Samples: Credit Agreement (Cadmus Communications Corp/New)

Commitments to Lend. (a) Each Bank severally agrees, on the terms and conditions set forth in this Agreement, (a) to make Committed Loans in dollars and/or euros to the Company Borrower or to any Eligible Qualified Borrower and participate in Letters of Credit issued by any Fronting Bank on behalf of the Borrower or the Qualified Borrowers pursuant to this Section 2.01 Article from time to time during the Revolving Credit Period; provided term hereof in amounts such that the Outstanding Amount (based in respect aggregate principal amount of any Loan denominated in euros by reference to the Equivalent thereof in dollars determined on the date of delivery of the applicable Notice of Borrowing) Committed Loans made by such Bank at any one time outstanding to all Borrowers plus such Bank’s Pro Rata Share of the Letter of Credit Usage shall not exceed the amount Dollar Equivalent Amount of its Commitment, and (b) in furtherance and clarification of the Aggregate Outstanding Amount (based foregoing, as to Banks with an Alternate Currency Commitment only, to participate in respect Alternate Currency Letters of Credit issued by any Loan Fronting Bank on behalf of the Borrower or the Qualified Borrowers pursuant to this Article and to make Euro-Dollar Loans to the Borrower or to any Qualified Borrower denominated in euros by reference any Alternate Currency (provided (i) such Alternate Currency is readily available to such Banks and is freely transferable and convertible to Dollars, and (ii) Bloomberg (or other applicable reporting service, any successor to Bloomberg or any such other service) reports a London Interbank Offered Rate (or other applicable rate) for such Alternate Currency relating to the applicable Interest Period), in an aggregate principal Dollar Equivalent thereof in dollars determined on the date of delivery of the applicable Notice of Borrowing) at any one time outstanding Amount not to all Borrowers shall not exceed the Aggregate Commitmentssuch Bank’s Alternate Currency Commitment. Each Borrowing outstanding under this Section 2.01 2.1 shall be in an aggregate principal amount the Dollar Equivalent Amount of the Borrowing Minimum which is $3,000,000, or any larger an integral multiple of the Borrowing Multiple $100,000 in excess thereof (except that any such Borrowing may be in the aggregate unused amount available of the applicable Commitments, or in accordance any amount required to reimburse the Fronting Bank for any drawing under any Letter of Credit) and, other than with Section 3.02(c)) and respect to Competitive Bid Loans, shall be made from the several Banks ratably in proportion to their respective Commitments. Within In no event shall (i) the foregoing limitsaggregate Dollar Equivalent Amount of Loans outstanding at any time, plus outstanding Dollar Equivalent Amount of the Letter of Credit Usage, exceed $2,500,000,000 (or, if the Borrower exercises its option to increase the aggregate amount of the Dollar Commitments pursuant to Section 2.1(b), the Borrowers may borrow under this Section 2.01, repayaggregate amount of the Commitments as so increased), or (ii) the aggregate Dollar Equivalent Amount of Loans denominated in an Alternate Currency plus the outstanding aggregate Dollar Equivalent Amount of the Letter of Credit Usage for Alternate Currency Letters of Credit exceed the Alternate Currency Sublimit. Notwithstanding any other provision of this Agreement to the contrary, each Borrowing and Letter of Credit denominated in Dollars shall be deemed to use the Dollar Commitments to the extent permitted by Section 2.10 prepay, Loans and reborrow at any time during the Revolving Credit Period under this Section 2.01. Notwithstanding the foregoing, no more than fifteen (15) Term Benchmark Borrowings shall Dollar Sublimit would not be outstanding at any one timeexceeded thereby, and to use the Alternate Currency Commitments if such Alternate Currency Commitments are available in the event that the Dollar Commitments would be so exceeded. Subject to the limitations set forth herein, any Borrowing that would exceed such limitation shall amounts repaid may be made as an ABR Borrowingreborrowed.

Appears in 1 contract

Samples: Revolving Credit Agreement (Erp Operating LTD Partnership)

Commitments to Lend. (a) Each Bank Tranche A Lender severally agrees, on the terms and conditions set forth in this Agreement, to make Loans loans in dollars and/or euros Dollars to the Company or any Eligible Borrower pursuant to this Section 2.01 from time to time during the Revolving Credit Period; provided that (A) no Tranche A Loan shall be made pursuant to this Section 2.01(a) (other than any Tranche A Loan made pursuant to Section 2.16(e)) at any time when the Total Tranche B Outstanding Amount is less than the Maximum Tranche B Availability and (based in respect of any Loan denominated in euros by reference to B) immediately after each such loan is made: (1) the Equivalent thereof in dollars determined on the date of delivery sum of the applicable Notice aggregate outstanding principal amount of Borrowingsuch Tranche A Lender’s Tranche A Loans plus the aggregate amount of such Tranche A Lender’s LC Exposure shall not exceed its Tranche A Commitment, (2) by such Bank at any one time outstanding to all Borrowers the Total Tranche A Outstanding Amount shall not exceed the amount of its Commitment, Maximum Tranche A Availability and (3) the Aggregate Total Outstanding Amount (based in respect of any Loan denominated in euros by reference to the Equivalent thereof in dollars determined on the date of delivery of the applicable Notice of Borrowing) at any one time outstanding to all Borrowers shall not exceed the Aggregate CommitmentsMaximum Facility Availability. Each Subject to Section 2.02(c), each Borrowing under this Section 2.01 shall be in an aggregate principal amount of the Borrowing Minimum $5,000,000 or any larger multiple of the Borrowing Multiple $1,000,000 (except that (x) any such Borrowing may be in the aggregate amount available within the limitations in accordance with Section 3.02(c)the foregoing proviso and (y) any Base Rate Borrowing pursuant to ‎Section 2.16(e) may be in the amount specified therein) and shall be made from the several Banks Tranche A Lenders ratably in proportion to their respective Tranche A Commitments. Within the foregoing limits, the Borrowers Borrower may borrow under this Section 2.01Section, repay, or to the extent permitted by Section 2.10 prepay‎Section 2.11, prepay Tranche A Loans and reborrow at any time during the Revolving Credit Period re-borrow under this Section ‎Section 2.01. Notwithstanding the foregoing, no more than fifteen (15) Term Benchmark Borrowings shall be outstanding at any one time, and any Borrowing that would exceed such limitation shall be made as an ABR Borrowing.

Appears in 1 contract

Samples: Credit Agreement (United States Steel Corp)

Commitments to Lend. (a) Each Bank severally agrees, on ------------------- the terms and conditions set forth in this Agreementherein, to make Tranche A Loans in dollars and/or euros to the Company or any Eligible Borrower pursuant to this Section 2.01 from time to time during before the Revolving Credit PeriodTranche A Termination Date; provided that provided, -------- that, immediately after each such Loan is made, the Outstanding Amount (based in respect aggregate principal amount ---- of any Loan denominated in euros by reference to the Equivalent thereof in dollars determined on the date of delivery of the applicable Notice of Borrowing) Tranche A Loans by such Bank at any one time outstanding to all Borrowers shall not exceed the amount of its Tranche A Commitment, and the Aggregate Outstanding Amount (based in respect of any Loan denominated in euros by reference to the Equivalent thereof in dollars determined on the date of delivery of the applicable Notice of Borrowing) at any one time outstanding to all Borrowers shall not exceed the Aggregate Commitments. Each Base Rate Borrowing under this Section 2.01 shall be in an aggregate principal amount of the Borrowing Minimum $100,000 or any larger multiple of the Borrowing Multiple amount (except that any such Borrowing may be in the aggregate amount available in accordance with Section 3.02(c)of the Unused Tranche A Commitments) and shall be made from the several Banks ratably in proportion to their respective Tranche A Commitments. Each Euro-Dollar Borrowing under this Section shall be in an aggregate principal amount of $500,000 or any larger multiple of $100,000 and shall be made from the several Banks ratably in proportion to their respective Tranche A Commitments. Within the foregoing limits, the Borrowers Borrower may borrow under this Section 2.01Section, repay, or reborrow, and to the extent permitted by Section 2.10 prepay2.09, Loans and reborrow prepay Loans, under this Section at any time during before the Revolving Credit Period under Tranche A Termination Date. As of the date of this Section 2.01. Notwithstanding Agreement, the foregoingTranche A Loans are due and owing in accordance with the terms hereof without counterclaim, no more than fifteen (15) Term Benchmark Borrowings shall be outstanding at any one time, and any Borrowing that would exceed such limitation shall be made as an ABR Borrowingoffset or other defense.

Appears in 1 contract

Samples: Credit Agreement (Mohawk Industries Inc)

Commitments to Lend. Each Bank severally During the Revolving Credit Period, each Lender agrees, on the terms and conditions set forth in this Agreement, to make loans to any Borrower in US Dollars (in the case of both ABR Loans and Eurocurrency Loans) or (in dollars and/or euros to the Company or case of Eurocurrency Loans only) any Eligible Borrower Designated Foreign Currency, pursuant to this Section 2.01 from time to time during in amounts such that (a) the Revolving Credit Period; provided that the Outstanding Amount (based in respect Exposure of any Loan denominated in euros by reference to the Equivalent thereof in dollars determined on the date of delivery of the applicable Notice of Borrowing) by such Bank Lender at any one time outstanding to all Borrowers shall not exceed the amount of its Commitment, Commitment and (b) the Aggregate Outstanding Amount (based in respect of any Loan denominated in euros by reference to the Equivalent thereof in dollars determined on the date of delivery aggregate Revolving Credit Exposures of the applicable Notice of Borrowing) at any one time outstanding to all Borrowers Lenders shall not exceed the Aggregate aggregate Lenders’ Commitments. Each Borrowing under this Section 2.01 shall be in an aggregate principal of amount at least equal to the Borrowing Minimum or any larger and an integral multiple of the Borrowing Multiple (except that any such Borrowing may be in the aggregate amount available in accordance with Section 3.02(c)) and shall be made from the several Banks Lenders ratably in proportion to their respective Commitments, it being understood that the failure of any Lender to make any Loan required to be made by it shall not relieve any other Lender of its obligations hereunder, provided that the Commitments of the Lenders are several and no Lender shall be responsible for any other Lender’s failure to make Loans as required. Within the foregoing limits, the Borrowers any Borrower may borrow under this borrow, repay or, subject to Section 2.012.11, repay, or to the extent permitted by Section 2.10 prepay, prepay Loans and reborrow at any time during the Revolving Credit Period under this Section 2.01. Notwithstanding the foregoing, no more than fifteen (15) Term Benchmark Borrowings shall be outstanding at any one time, and any Borrowing that would exceed such limitation shall be made as an ABR BorrowingPeriod.

Appears in 1 contract

Samples: Credit Agreement (DOVER Corp)

Commitments to Lend. Each Bank (a) During the Revolving Credit Period each U.S. Lender severally agrees, on the terms and conditions set forth in this Agreement, to make Loans in dollars and/or euros loans to the Company or any Eligible either U.S. Borrower pursuant to this Section 2.01 from time to time during (which may be denominated in Dollars or any Alternative Currency as the Revolving Credit PeriodBorrower elects pursuant to Section 4.01); provided that that, immediately after each such loan is made, (x) the Outstanding Amount (based in respect amount of any Loan denominated in euros by reference to the Equivalent thereof in dollars determined on the date of delivery of the applicable Notice of Borrowing) by such Bank at any one time outstanding to all Borrowers U.S. Lender’s U.S. Committed Outstandings shall not exceed the amount of its U.S. Commitment, and (y) the Aggregate Outstanding aggregate Dollar Amount (based in respect of any Loan denominated in euros by reference to the Equivalent thereof in dollars determined on the date of delivery of the applicable Notice of Borrowing) at any one time outstanding to all Borrowers Alternative Currency Loans shall not exceed the Aggregate Alternative Currency Sublimit and (z) the U.S. Total Outstanding Amount shall not exceed the aggregate amount of the U.S. Commitments. Each Borrowing under this Section 2.01 shall be in an aggregate principal of the Borrowing Minimum or any larger multiple of the Borrowing Multiple Approved Amount (except that (i) any such Borrowing may be in the aggregate amount available in accordance with the preceding sentence and (ii) any Borrowing made to reimburse an LC Disbursement pursuant to Section 3.02(c)2.04 may be in the amount of such LC Disbursement) and shall be made from the several Banks U.S. Lenders ratably in proportion to their respective U.S. Commitments. Within the foregoing limits, the U.S. Borrowers may borrow under this Section 2.01Section, repayrepay or, or to the extent permitted by Section 2.10 prepay4.10, prepay Loans and reborrow at any time during the Revolving Credit Period under pursuant to this Section 2.01. Notwithstanding the foregoing, no more than fifteen (15) Term Benchmark Borrowings shall be outstanding at any one time, and any Borrowing that would exceed such limitation shall be made as an ABR BorrowingSection.

Appears in 1 contract

Samples: Credit Agreement (Aramark Corp/De)

Commitments to Lend. Each Bank severally agrees, on Subject to the terms and conditions set ------------------- forth in this Agreement, each Lender severally and not jointly agrees, during the period from the Effective Date to make Loans in dollars and/or euros but not including the Commitment Termination Date, to lend to the Company or any Eligible Borrower in United States Dollars pursuant to this Section 2.01 from time to time during the Revolving Credit Period; provided amounts such that the Outstanding Amount (based in respect aggregate principal amount of any Loan denominated in euros Loans made by reference such Lender to the Equivalent thereof in dollars determined on the date of delivery of the applicable Notice of Borrowing) by such Bank Borrower at any one time outstanding to all Borrowers shall not exceed the amount of its Commitment, and the Aggregate Outstanding Amount (based in respect of any Loan denominated in euros by reference to the Equivalent thereof in dollars determined on the date of delivery of the applicable Notice of Borrowing) at any one time outstanding to all Borrowers shall not exceed the Aggregate Commitments. Each Borrowing under this Section 2.01 shall be in an aggregate principal amount of the Borrowing Minimum $10,000,000 or any larger multiple of the Borrowing Multiple $1,000,000 (except that any such Borrowing may be in the aggregate amount available in accordance with Section 3.02(c3.02(b)(iii)) and shall be made from the several Banks Lenders ratably in proportion to their respective Commitments. Within the foregoing limitslimits specified in this Agreement, the Borrowers Borrower may borrow under pursuant to this Section 2.01, repay, or to the extent permitted by Section 2.10 prepay2.11, prepay Loans and reborrow (other than Competitive Bid Loans) at any time during the Revolving Credit Period under this Section 2.01. Notwithstanding Within the foregoinglimits of each Lender's Commitment, no more than fifteen (15) Term Benchmark Borrowings the aggregate amount of the Commitments of the Lenders shall be outstanding at any one timedeemed used from time to time to the extent of the aggregate amount of the Competitive Bid Loans then outstanding, and any Borrowing that would exceed such limitation which deemed usage shall be made as an ABR Borrowingallocated among the Lenders according to their respective Shares (such deemed usage being a "COMPETITIVE BID LOAN REDUCTION").

Appears in 1 contract

Samples: Day Credit Agreement (FMC Corp)

Commitments to Lend. Each Bank Lender severally agrees, on the terms and conditions set forth in this Agreement, to make Revolving Loans in dollars and/or euros to the Company or any Eligible Borrower pursuant to this Section 2.01 from time to time during the Availability Period in amounts such that its Revolving Credit PeriodOutstandings shall not exceed its Revolving Commitment; provided that provided, that, immediately after giving effect to each such Revolving Loan, the Outstanding Amount aggregate principal amount of all outstanding Revolving Loans (based in respect of after giving effect to any Loan denominated in euros by reference to the Equivalent thereof in dollars determined on the date of delivery of the applicable Notice of Borrowingamount requested) by such Bank at any one time outstanding to all Borrowers shall not exceed the amount aggregate Revolving Commitments less the sum of its Commitment, and the Aggregate Outstanding Amount (based in respect all outstanding Letter of any Loan denominated in euros by reference to the Equivalent thereof in dollars determined on the date of delivery of the applicable Notice of Borrowing) at any one time outstanding to all Borrowers shall not exceed the Aggregate CommitmentsCredit Liabilities. Each Revolving Borrowing under this Section 2.01 (other than Mandatory Letter of Credit Borrowings) shall be in an aggregate principal amount of the Borrowing Minimum $10,000,000 or any larger multiple of the Borrowing Multiple $1,000,000 (except that any such Borrowing may be in the aggregate amount available in accordance with Section 3.02(c)of the unused Revolving Commitments) and shall be made from the several Banks Lenders ratably in proportion to their respective Revolving Commitments. Within the foregoing limits, the Borrowers Borrower may borrow under this Section 2.01, repay, or or, to the extent permitted by Section 2.10 2.10, prepay, Revolving Loans and reborrow at any time during the Revolving Credit Period under this Section 2.01. Notwithstanding ; provided, further, that for purposes of the foregoingimmediately preceding proviso and all other provisions of this Agreement and each other Loan Document, no more than fifteen at any time there is a Defaulting Lender, (15a) Term Benchmark Borrowings the aggregate Revolving Commitments shall be outstanding at any one timedeemed to be reduced by an amount equal to the remainder (such amount, the “Specified Amount”) of (i) such Defaulting Lender’s Revolving Commitment minus (ii) the principal amount of such Defaulting Lender’s Revolving Outstandings in respect of Revolving Loans and any Borrowing that would exceed (b) such limitation Defaulting Lender’s Revolving Commitment shall be made as deemed to be reduced by an ABR Borrowingamount equal to the Specified Amount.

Appears in 1 contract

Samples: Day Credit Agreement (PPL Energy Supply LLC)

Commitments to Lend. Each Bank Lender severally agrees, on the terms and conditions set forth in this Agreement, to make Committed Loans in dollars and/or euros to the Company Borrowers or any Eligible Borrower participate in Letters of Credit issued by the Fronting Lender on behalf of Borrowers pursuant to this Section 2.01 Article from time to time during the Revolving Credit Period; provided term hereof in amounts such that the Outstanding Amount (based in respect aggregate principal amount of any Loan denominated in euros by reference to the Equivalent thereof in dollars determined on the date of delivery of the applicable Notice of Borrowing) Committed Loans by such Bank Lender at any one time outstanding plus such Lender’s pro rata share (based on the ratio of its Commitment to the aggregate of all Borrowers Commitments) of Letter of Credit Usage shall not exceed the amount of its Available Commitment, and . The aggregate amount of Committed Loans together with the Aggregate Outstanding Amount (based in respect Letter of any Loan denominated in euros by reference to the Equivalent thereof in dollars determined on the date of delivery of the applicable Notice of Borrowing) at any one time outstanding to all Borrowers Credit Usage shall not exceed the Aggregate lesser of (i) the Facility Amount and (ii) the Total Available Commitments. The aggregate dollar amount of Letters of Credit Usage shall not at any time exceed Ten Million Dollars ($10,000,000). Each Borrowing outstanding under this Section 2.01 2.1 (other than a Borrowing in connection with a draw under a Letter of Credit) shall be in an aggregate principal amount of the Borrowing Minimum $5,000,000 (for LIBOR Loans) or any larger $1,000,000 (for Alternate Base Rate Loans), or in each case an integral multiple of the Borrowing Multiple $1,000,000 in excess thereof (except that any such Borrowing may be in the aggregate amount available in accordance with Section 3.02(c3.2(c)) and shall be made from the several Banks Lenders ratably in proportion to their respective Commitments. Within the foregoing limits, the Borrowers may borrow under this Section 2.01, repay, or Subject to the extent permitted by Section 2.10 prepaylimitations set forth herein, Loans and reborrow at any time during the Revolving Credit Period under this Section 2.01. Notwithstanding the foregoing, no more than fifteen (15) Term Benchmark Borrowings shall amounts repaid may be outstanding at any one time, and any Borrowing that would exceed such limitation shall be made as an ABR Borrowingreborrowed.

Appears in 1 contract

Samples: Revolving Credit Agreement (Northstar Realty)

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Commitments to Lend. (a) Revolving Loans. Each Bank Revolving Lender severally agrees, on the terms and conditions set forth in this Agreement, to make Revolving Loans in dollars and/or euros to the Company or any Eligible Borrower pursuant to this Section 2.01 2.01(a) from time to time during the Availability Period in amounts such that its Revolving Credit PeriodOutstandings shall not exceed (after giving effect to all Revolving Loans repaid, all reimbursements of LC Disbursements made, and all Refunded Swingline Loans paid concurrently with the making of any Revolving Loans) its Revolving Commitment; provided that that, immediately after giving effect to each such Revolving Loan, (i) the Outstanding Amount (based in respect of any Loan denominated in euros by reference to the Equivalent thereof in dollars determined on the date of delivery of the applicable Notice of Borrowing) by such Bank at any one time outstanding to all Borrowers aggregate Revolving Outstandings shall not exceed the amount of Revolving Committed Amount and (ii) with respect to each Revolving Lender individually, such Lender's outstanding Revolving Loans plus its Commitment, and (other than the Aggregate Outstanding Amount (based Swingline Lender's in respect of any Loan denominated its capacity as such) Participation Interests in euros by reference to the Equivalent thereof outstanding Swingline Loans plus its Participation Interests in dollars determined on the date of delivery of the applicable Notice of Borrowing) at any one time outstanding to all Borrowers LC Obligations shall not exceed such Lender's Revolving Commitment Percentage of the Aggregate CommitmentsRevolving Committed Amount. Each Revolving Borrowing under this Section 2.01 shall be in an aggregate principal amount of the Borrowing Minimum $1,000,000 or any larger multiple of the Borrowing Multiple $100,000 (except that any such Borrowing may be in the aggregate amount available in accordance with Section 3.02(c)of the unused Revolving Commitments) and shall be made from the several Banks Revolving Lenders ratably in proportion to their respective Revolving Commitments. Within the foregoing limits, the Borrowers Borrower may borrow under this Section 2.012.01(a), repay, or or, to the extent permitted by Section 2.10 2.09, prepay, Revolving Loans and reborrow at any time during the Revolving Credit Period under this Section 2.01. Notwithstanding the foregoing, no more than fifteen (15) Term Benchmark Borrowings shall be outstanding at any one time, and any Borrowing that would exceed such limitation shall be made as an ABR Borrowing2.01(a).

Appears in 1 contract

Samples: Credit Agreement (Hillman Companies Inc)

Commitments to Lend. (a) Each Bank severally agrees, on ------------------- the terms and conditions set forth in this Agreementherein, to make Tranche A Loans in dollars and/or euros to the Company or any Eligible Borrower pursuant to this Section 2.01 from time to time during before the Revolving Credit PeriodTranche A Termination Date; provided that provided, -------- that, immediately after each such Loan is made, the Outstanding Amount (based in respect aggregate outstanding ---- principal amount of any Loan denominated in euros by reference to the Equivalent thereof in dollars determined on the date of delivery of the applicable Notice of Borrowing) Tranche A Loans by such Bank at any one time outstanding to all Borrowers shall not exceed the amount of its Tranche A Commitment, and the Aggregate Outstanding Amount (based in respect of any Loan denominated in euros by reference to the Equivalent thereof in dollars determined on the date of delivery of the applicable Notice of Borrowing) at any one time outstanding to all Borrowers shall not exceed the Aggregate Commitments. Each Base Rate Borrowing under this Section 2.01 shall be in an aggregate principal amount of the Borrowing Minimum $100,000 or any larger multiple of the Borrowing Multiple amount (except that any such Borrowing may be in the aggregate amount available in accordance with Section 3.02(c)of the Unused Tranche A Commitments) and shall be made from the several Banks ratably in proportion to their respective Tranche A Commitments. Each Euro-Dollar Borrowing under this Section shall be in an aggregate principal amount of $2,000,000 or any larger multiple of $500,000 and shall be made from the several Banks ratably in proportion to their respective Tranche A Commitments. Within the foregoing limits, the Borrowers Borrower may borrow under this Section 2.01Section, repay, or reborrow, and to the extent permitted by Section 2.10 prepay2.09, Loans and reborrow prepay Loans, under this Section at any time during before the Revolving Credit Period under Tranche A Termination Date. As of the date of this Section 2.01. Notwithstanding Agreement, the foregoingoutstanding Tranche A Loans are due and owing in accordance with the terms hereof without counterclaim, no more than fifteen (15) Term Benchmark Borrowings shall be outstanding at any one time, and any Borrowing that would exceed such limitation shall be made as an ABR Borrowingoffset or other defense.

Appears in 1 contract

Samples: Credit Agreement (Mohawk Industries Inc)

Commitments to Lend. Each Bank (a) Term Loan-A Facility. During the Term Loan-A Availability Period, each Term Loan-A Lender severally agrees, on the terms and conditions set forth in this Agreement, to make Loans Term Loans-A (which may be denominated in dollars and/or euros Dollars or any Alternative Currency as the relevant Borrower elects pursuant to Section 2.02) to the Company or Company, UKHC and/or any Eligible Borrower pursuant to this Section 2.01 Subsidiary, as the case may be, from time to time during the Revolving Credit Periodtime; provided that (i) immediately after each such Term Loan-A is made, the Outstanding Amount (based in respect Term Loan-A Outstandings of any Loan denominated in euros by reference to the Equivalent thereof in dollars determined on the date of delivery of the applicable Notice of Borrowing) by such Bank at any one time outstanding to all Borrowers Lender shall not exceed the amount of its Term Loan-A Commitment, and (ii) no more than three Term Loan-A Borrowings (counting (x) any Borrowing made concurrently with the Aggregate Outstanding Amount (based in respect of any Loan denominated in euros by reference to the Equivalent thereof in dollars determined on the date of delivery consummation of the applicable Notice Apollo Acquisition, together with (y) any issuance of BorrowingApollo Letters of Credit concurrently with the consummation of the Apollo Acquisition, together with (z) at any one time outstanding Borrowing the proceeds of which are used solely to all Borrowers repay Apollo LC Reimbursement Obligations, as a single Borrowing for purposes of this clause (ii) only) shall not exceed be made during the Aggregate Commitments. Each Term Loan-A Availability Period, and (iii) each Term Loan-A Borrowing under this Section 2.01 shall be in an aggregate principal Dollar Amount of the Borrowing Minimum or any larger multiple of the Borrowing Multiple not less than $25,000,000 (except that any such Borrowing may be in the aggregate Dollar Amount of the unused Term Loan-A Commitment and may be in the amount available required to repay Apollo LC Reimbursement Obligations). The Term Loan-A Commitments are not revolving in accordance with Section 3.02(c)) and shall be made from the several Banks ratably in proportion to their respective Commitments. Within the foregoing limits, the Borrowers may borrow under this Section 2.01, repay, or to the extent permitted by Section 2.10 prepay, Loans and reborrow at any time during the Revolving Credit Period under this Section 2.01. Notwithstanding the foregoing, no more than fifteen (15) Term Benchmark Borrowings shall be outstanding at any one timenature, and any Borrowing that would exceed such limitation amounts repaid or prepaid pursuant to Section 2.03 or 2.08 shall not be made as an ABR Borrowingreborrowed.

Appears in 1 contract

Samples: Execution (SFX Entertainment Inc)

Commitments to Lend. Each Bank severally agrees, on the terms and conditions set forth in this Agreementherein, to make Syndicated Loans in dollars and/or euros Dollars or Offshore Currencies (as specified in the Notice of Borrowing) to the Company or any Eligible Borrower pursuant to this Section 2.01 from time to time during before the Revolving Credit PeriodTermination Date; provided that that, immediately after each such Syndicated Loan is made, (i) the Outstanding Dollar Equivalent Amount (based in respect of any Loan denominated in euros by reference to the Equivalent thereof in dollars determined on the date of delivery of the applicable Notice aggregate principal amount outstanding of Borrowing) all Syndicated Loans by such Bank at any one time outstanding to all Borrowers shall not exceed the amount of its Commitment, and (ii) the Aggregate Outstanding Dollar Equivalent Amount (based in respect of any Loan denominated in euros by reference to the Equivalent thereof in dollars determined on the date of delivery of the applicable Notice aggregate principal amount of Borrowing) at any one time all Syndicated Loans, Money Market Loans and Swing Line Loans outstanding to all Borrowers shall not exceed the Aggregate CommitmentsTotal Revolving Credit Commitment, and (iii) the Dollar Equivalent Amount of the aggregate principal amount of all Offshore Loans shall not exceed the Total Alternate Currency Sublimit. In the event that, at any time, any of the limits set forth in (i), (ii) or (iii) of the immediately preceding sentence are exceeded, the Borrower agrees to immediately make such payments and prepayments as shall be necessary to comply with each such provision. Each Syndicated Borrowing under this Section 2.01 shall be in the Dollar Equivalent Amount of an aggregate principal amount of (i) in the Borrowing Minimum case of Base Rate Loans, $1,000,000 or any larger multiple of $500,000, and (ii) in the Borrowing Multiple case of Euro_Dollar Loans and Offshore Loans, $5,000,000 (or the Dollar Equivalent Amount thereof in any Offshore Currency) or any larger multiple of $500,000 (or the Dollar Equivalent Amount thereof in any Offshore Currency), except that any such Syndicated Borrowing, whether a Base Rate Borrowing, a Euro_Dollar Borrowing or an Offshore Borrowing, may be in the Dollar Equivalent Amount of the aggregate principal amount available in accordance with of the Unused Commitments. Each Syndicated Borrowing under this Section 3.02(c)) and 2.01 shall be made from the several Banks ratably in proportion to their respective Commitments. Any Bank's Money Market Loans shall not reduce such Bank's Commitment, or be included in calculating its Unused Commitment, for purposes of future Borrowings under this Section 2.01. Within the foregoing limits, the Borrowers Borrower may borrow under this Section 2.01, repayrepay or, or to the extent permitted by Section 2.10 prepay2.10, prepay Syndicated Loans and reborrow under this Section 2.01 at any time during before the Revolving Credit Period under this Section 2.01. Notwithstanding the foregoing, no more than fifteen (15) Term Benchmark Borrowings shall be outstanding at any one time, and any Borrowing that would exceed such limitation shall be made as an ABR BorrowingTermination Date.

Appears in 1 contract

Samples: Credit Agreement (Home Depot Inc)

Commitments to Lend. Each Bank During the period from and including the Effective Date, to but not including the Termination Date, each Lender severally agrees, on the terms and conditions set forth in this Agreement, to make Loans in dollars and/or euros lend to the Company or any Eligible Borrower pursuant to this Section 2.01 from time to time during the Revolving Credit Period; provided amounts such that the Outstanding Amount (based in respect aggregate principal amount of any Loan denominated in euros by reference to the Equivalent thereof in dollars determined on the date of delivery of the applicable Notice of Borrowing) Loans by such Bank Lender at any one time outstanding to all Borrowers shall not exceed the amount of its set forth opposite such Lender's name on Schedule II hereof or, if such Lender has entered into any Assignment and Acceptance as set forth in the recorded Assignment and Acceptance, as such amount may be reduced pursuant to Section 2.09 or Section 2.10 or increased pursuant to Section 2.15 or assigned pursuant to Section 10.06 (such Lender's "Commitment, and the Aggregate Outstanding Amount (based in respect of any Loan denominated in euros by reference to the Equivalent thereof in dollars determined on the date of delivery of the applicable Notice of Borrowing) at any one time outstanding to all Borrowers shall not exceed the Aggregate Commitments"). Each Borrowing under this Section 2.01 shall be in an aggregate principal amount of the Borrowing Minimum $10,000,000 or any larger multiple of the Borrowing Multiple $1,000,000 (except that any such Borrowing may be in the aggregate amount available in accordance with Section 3.02(c)of the unused portion of the Commitments of all of the Lenders) and shall be made from the several Banks Lenders ratably in proportion to their respective CommitmentsCommitments (other than Competitive Bid Loans). Within the foregoing limitsAmounts required to be repaid pursuant to Section 2.10 shall not be reborrowed, and amounts repaid pursuant to Section 8.02 shall not be reborrowed except as provided therein. Except as otherwise provided in this Agreement, the Borrowers Borrower may borrow under this Section 2.01, repay, or or, to the extent permitted by Section 2.10 prepay2.11, prepay Loans and reborrow (other than Competitive Bid Loans) at any time during prior to but not including the Revolving Credit Period Termination Date under this Section 2.01. Notwithstanding Within the foregoinglimits of each Lender's Commitment, no more than fifteen (15) Term Benchmark Borrowings the aggregate amount of the Commitments of the Lenders shall be outstanding at any one timedeemed used from time to time to the extent of the aggregate amount of the Competitive Bid Loans then outstanding, and any Borrowing that would exceed such limitation which deemed usage shall be made as an ABR Borrowingallocated among the Lenders according to their respective Shares (such deemed usage being a "Competitive Bid Loan Reduction").

Appears in 1 contract

Samples: Credit Agreement (Massey Energy Co)

Commitments to Lend. Each Bank During the period from and including the Effective Date, to but not including the Termination Date, each Lender severally agrees, on the terms and conditions set forth in this Agreement, to make Loans in dollars and/or euros lend to the Company or any Eligible Borrower pursuant to this Section 2.01 from time to time during amounts such that (i) the Revolving Credit Period; provided that the Outstanding Amount (based in respect aggregate principal amount of any Loan denominated in euros by reference to the Equivalent thereof in dollars determined on the date of delivery of the applicable Notice of Borrowing) Loans by such Bank Lender at any one time outstanding to all Borrowers shall not exceed the amount set forth opposite such Lender's name on Schedule II hereof or, if such Lender has entered into any Assignment and Acceptance as set forth in the recorded Assignment and Acceptance, as such amount may be reduced pursuant to Section 2.08 or Section 2.09 or assigned pursuant to Section 10.06 (such Lender's "Commitment") and (ii) the aggregate principal amount of its Commitment, and the Aggregate Outstanding Amount (based in respect of any Loan denominated in euros Loans by reference to the Equivalent thereof in dollars determined on the date of delivery all of the applicable Notice of Borrowing) Lenders at any one time outstanding to all Borrowers shall not exceed the Aggregate aggregate amount of all of their Commitments. Each Borrowing under this Section 2.01 shall be in an aggregate principal amount of the Borrowing Minimum $10,000,000 or any larger multiple of the Borrowing Multiple $1,000,000 (except that any such Borrowing may be in the aggregate amount available in accordance with Section 3.02(c)of the unused portion of the Commitments of all of the Lenders) and shall be made from the several Banks ratably Lenders in proportion to accordance with their respective CommitmentsShares. Within the foregoing limitsAmounts required to be repaid pursuant to Section 2.09 shall not be reborrowed, and amounts repaid pursuant to Section 8.02 shall not be reborrowed except as provided therein. Except as otherwise provided in this Agreement, the Borrowers Borrower may borrow under this Section 2.01, repay, or or, to the extent permitted by Section 2.10 prepay2.10, prepay Loans and reborrow at any time during prior to but not including the Revolving Credit Period Termination Date under this Section 2.01. Notwithstanding the foregoing, no more than fifteen (15) Term Benchmark Borrowings shall be outstanding at any one time, and any Borrowing that would exceed such limitation shall be made as an ABR Borrowing.

Appears in 1 contract

Samples: Credit Agreement (Massey Energy Co)

Commitments to Lend. Each Bank severally agrees, on the terms and conditions set forth in this Agreement, to make the Committed Loans to Borrower and participate in dollars and/or euros to Letters of Credit issued by the Company or any Eligible Fronting Bank on behalf of Borrower pursuant to this Section 2.01 2.16 from time to time time, during the Revolving Credit Period; provided Term in amounts such that the Outstanding Amount sum of (based in respect i) the aggregate principal amount of any Loan denominated in euros by reference to the Equivalent thereof in dollars determined on the date of delivery of the applicable Notice of Borrowing) Committed Loans by such Bank at any one time outstanding to all Borrowers outstanding, plus (ii) such Bank’s pro rata share of Letter of Credit Usage shall not exceed the amount of such Bank’s Commitment (in no event shall a Bank’s participation in a Money Market Loan reduce a Bank’s Commitment). The aggregate amount of Committed Loans to be made hereunder together with the aggregate pro rata share of principal amount of Money Market Loans participated in by such Bank (or its Commitment, Designated Bank) and the Aggregate Outstanding Amount (based in respect Letter of any Loan denominated in euros by reference to the Equivalent thereof in dollars determined on the date of delivery of the applicable Notice of Borrowing) at any one time outstanding to all Borrowers Credit Usage shall not exceed the Aggregate Commitmentsaggregate Commitments of the Banks. Each Committed Borrowing under this Section 2.01 2.1 shall be in an aggregate principal amount of the Borrowing Minimum at least $2,500,000, or any larger an integral multiple of the Borrowing Multiple $1,000,000 in excess thereof (except that any such Borrowing may be in the aggregate amount available in accordance with Section 3.02(c3.2(b)) and and, other than with respect to Money Market Loans, shall be made from the several Banks ratably in proportion to their respective Commitments. Within Subject to the foregoing limitslimitations set forth herein, any amounts repaid may be reborrowed. Notwithstanding anything to the contrary, the Borrowers may borrow under this Section 2.01, repay, or number of new Borrowings shall be limited to the extent permitted by Section 2.10 prepay, Loans four Borrowings per month and reborrow at any time during the Revolving Credit Period under this Section 2.01. Notwithstanding the foregoing, no more than fifteen (15) Term Benchmark ten Borrowings shall be outstanding at any one time, and any Borrowing that would exceed such limitation shall be made as an ABR Borrowing.

Appears in 1 contract

Samples: Revolving Credit Agreement (Carramerica Realty Corp)

Commitments to Lend. Each Bank severally agrees, on Subject to the terms and ------------------- conditions set forth in this Agreement, each Lender severally and not jointly agrees, during the period from the Effective Date to make Loans in dollars and/or euros but not including the Commitment Termination Date, to lend to the Company or any Eligible Borrower in United States Dollars pursuant to this Section 2.01 from time to time during the Revolving Credit Period; provided amounts such that the Outstanding Amount (based in respect aggregate principal amount of any Loan denominated in euros Loans made by reference such Lender to the Equivalent thereof in dollars determined on the date of delivery of the applicable Notice of Borrowing) by such Bank Borrower at any one time outstanding to all Borrowers shall not exceed the amount of its Commitment, and the Aggregate Outstanding Amount (based in respect of any Loan denominated in euros by reference to the Equivalent thereof in dollars determined on the date of delivery of the applicable Notice of Borrowing) at any one time outstanding to all Borrowers shall not exceed the Aggregate Commitments. Each Borrowing under this Section 2.01 shall be in an aggregate principal amount of the Borrowing Minimum $5,000,000 or any larger multiple of the Borrowing Multiple $1,000,000 (except that any such Borrowing may be in the aggregate amount available in accordance with Section 3.02(c3.02(b)(iii)) and shall be made from the several Banks Lenders ratably in proportion to their respective Commitments. Within the foregoing limitslimits specified in this Agreement, the Borrowers Borrower may borrow under pursuant to this Section 2.01, repay, or to the extent permitted by Section 2.10 prepay2.11, prepay Loans and reborrow at any time during the Revolving Credit Period under this Section 2.01. Notwithstanding anything herein to the foregoingcontrary, no more than fifteen (15) Term Benchmark Borrowings the Borrower shall not request any Loan and the Lenders shall be outstanding under no obligation to make any such Loan to the Borrower unless, at the time such Loan is requested, the Borrower is not able to make a drawing under, or be granted any one timeextension of credit in connection with, and any Borrowing that would exceed such limitation shall be made as an ABR Borrowingthe Existing Credit Agreement.

Appears in 1 contract

Samples: Credit Agreement (FMC Corp)

Commitments to Lend. Each Bank severally agrees, on Subject to the terms and conditions set forth in this Agreementherein, each Lender severally agrees to make Loans in dollars and/or euros Advances to the Company or any Eligible Borrower pursuant to this Section 2.01 from time to time during before the Revolving Credit PeriodTermination Date; provided that that, (i) immediately after each such Advance, the Outstanding Amount (based in respect aggregate principal amount of any Loan denominated in euros by reference to the Equivalent thereof in dollars determined on the date of delivery of the applicable Notice of Borrowing) Advances by such Bank at any one time outstanding to all Borrowers Lender shall not exceed the amount of its Commitment, and the Aggregate Outstanding Amount (based in respect of any Loan denominated in euros by reference to the Equivalent thereof in dollars determined on the date of delivery of the applicable Notice of Borrowingii) at any one no time shall the aggregate outstanding principal amount of all Advances to all Borrowers shall not Borrower exceed the Aggregate CommitmentsCommitment. All Advances to Borrower shall be considered in determining whether the Aggregate Commitment has been exceeded in calculating the amount available for Borrowing by Borrower hereunder and in determining the amount of any mandatory payments required by Section 3.7(b), and for calculation of fees pursuant to Section 3.19. Each Prime Rate Borrowing under this Section 2.01 3.1 shall be in an aggregate principal amount of the Two Hundred Fifty Thousand Dollars ($250,000) or more and each LIBOR Rate Borrowing Minimum under this Section 3.1 shall be in an aggregate principal amount of One Million Dollars ($1,000,000) or any larger multiple of the Borrowing Multiple more (except that any such Borrowing may be in the aggregate amount available in accordance with Section 3.02(cof the Unused Commitment)) . Each Advance by a Lender shall not exceed such Lender's prorata share of the requested Advance and shall be made from the several Banks ratably in proportion to their respective CommitmentsAggregate Commitment. Within the foregoing limits, the Borrowers Borrower may borrow under this Section 2.013.1, repayrepay or, or to the extent permitted by Section 2.10 prepay3.7(c), Loans prepay Advances and reborrow under this Section up to the then-remaining Unused Commitment at any time during before the Revolving Credit Period under this Section 2.01. Notwithstanding the foregoing, no more than fifteen (15) Term Benchmark Borrowings shall be outstanding at any one time, and any Borrowing that would exceed such limitation shall be made as an ABR BorrowingTermination Date.

Appears in 1 contract

Samples: Loan Agreement (First Interstate Bancsystem of Montana Inc)

Commitments to Lend. (a) Each Bank severally agrees, on the terms and conditions set forth in this Agreement, to make Committed Loans in dollars and/or euros to the Company or any Eligible Borrower and participate in Letters of Credit issued by the Fronting Bank on behalf of the Borrower pursuant to this Section 2.01 Article from time to time during the Revolving Credit Period; provided term hereof in amounts such that the Outstanding Amount (based in respect aggregate principal amount of any Loan denominated in euros by reference to the Equivalent thereof in dollars determined on the date of delivery of the applicable Notice of Borrowing) Committed Loans by such Bank at any one time outstanding to all Borrowers plus such Bank's Pro Rata Share of Swingline Loans outstanding together with such Bank's pro rata share of the Letter of Credit Usage at such time shall not exceed the amount of its Commitment, and the Aggregate Outstanding Amount (based in respect of any Loan denominated in euros by reference to the Equivalent thereof in dollars determined on the date of delivery of the applicable Notice of Borrowing) at any one time outstanding to all Borrowers shall not exceed the Aggregate Commitments. Each Euro-Dollar Borrowing outstanding under this Section 2.01 2.1 shall be in an aggregate principal amount of the Borrowing Minimum $5,000,000, or any larger an integral multiple of $1,000,000 in excess thereof, and each Base Rate Borrowing (or Borrowing bearing interest at the Borrowing Multiple Offered Rate) shall be in an aggregate principal amount of $1,000,000, or an integral multiple of $1,000,000 in excess thereof (except that any such Borrowing may be in the aggregate amount available in accordance with Section 3.02(c3.2(b), or in any amount required to reimburse the Fronting Bank for any drawing under any Letter of Credit or to repay the Swingline Lender the amount of any Swingline Loan) and, other than with respect to Money Market Loans and Swingline Loans, shall be made from the several Banks ratably in proportion to their respective Commitments. Within In no event shall the foregoing limits, the Borrowers may borrow under this Section 2.01, repay, or to the extent permitted by Section 2.10 prepay, aggregate Loans and reborrow at any time during the Revolving Credit Period under this Section 2.01. Notwithstanding the foregoing, no more than fifteen (15) Term Benchmark Borrowings shall be outstanding at any one time, and plus the Letter of Credit Usage, exceed $750,000,000 (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"). Subject to the limitations set forth herein, any Borrowing that would exceed such limitation shall amounts repaid may be made as an ABR Borrowingreborrowed.

Appears in 1 contract

Samples: Revolving Credit Agreement (Istar Financial Inc)

Commitments to Lend. Each Bank severally agrees, on the terms and conditions set forth in this Agreementherein, to make Syndicated Loans in dollars and/or euros Dollars to the Company or any Eligible Borrower pursuant to this Section 2.01 from time to time during before the Revolving Credit PeriodTermination Date; provided that that, immediately after each such Syndicated Loan is made, (i) the Outstanding Amount (based in respect aggregate principal amount outstanding of any Loan denominated in euros by reference to the Equivalent thereof in dollars determined on the date of delivery of the applicable Notice of Borrowing) all Syndicated Loans by such Bank at any one time outstanding to all Borrowers shall not exceed the amount of its Commitment, Commitment and (ii) the Aggregate Outstanding Amount (based in respect aggregate principal amount of any Loan denominated in euros by reference to the Equivalent thereof in dollars determined on the date of delivery of the applicable Notice of Borrowing) at any one time all Syndicated Loans and Money Market Loans outstanding to all Borrowers shall not exceed the Aggregate CommitmentsTotal Revolving Credit Commitment. In the event that, at any time, any of the limits set forth in (i) or (ii) of the immediately preceding sentence are exceeded, the Borrower agrees to immediately make such payments and prepayments as shall be necessary to comply with each such provision. Each Syndicated Borrowing under this Section 2.01 shall be in an aggregate principal amount of (i) in the Borrowing Minimum case of Base Rate Loans, $1,000,000 or any larger multiple of $500,000, and (ii) in the Borrowing Multiple (case of Euro-Dollar Loans, $5,000,000 or any larger multiple of $500,000, except that any such Syndicated Borrowing, whether a Base Rate Borrowing or a Euro-Dollar Borrowing, may be in the aggregate principal amount available in accordance with of the unused Commitments. Each Syndicated Borrowing under this Section 3.02(c)) and 2.01 shall be made from the several Banks ratably in proportion to their respective Commitments. Any Bank's Money Market Loans shall not reduce such Bank's Commitment, for purposes of future Borrowings under this Section 2.01. Within the foregoing limits, the Borrowers Borrower may borrow under this Section 2.01, repayrepay or, or to the extent permitted by Section 2.10 prepay2.10, prepay Syndicated Loans and reborrow under this Section 2.01 at any time during before the Revolving Credit Period under this Section 2.01. Notwithstanding the foregoing, no more than fifteen (15) Term Benchmark Borrowings shall be outstanding at any one time, and any Borrowing that would exceed such limitation shall be made as an ABR BorrowingTermination Date.

Appears in 1 contract

Samples: Credit Agreement (Home Depot Inc)

Commitments to Lend. Each Bank severally agrees, on the terms and conditions set forth in this Agreementherein, to make Revolving Credit Loans in dollars and/or euros to the Company or any Eligible Borrower pursuant to this Section 2.01 from time to time during before the Revolving Credit PeriodMaturity Date; provided that that, immediately after each such Revolving Credit Loan is made, the Outstanding Amount (based in respect aggregate outstanding principal amount of any Loan denominated in euros by reference to the Equivalent thereof in dollars determined on the date of delivery of the applicable Notice of Borrowing) Revolving Credit Loans by such Bank at any one time outstanding to (together with, in the case of the Swing Line Lender, the aggregate principal amount of all Borrowers Swing Line Loans) plus its pro rata share of the Letter of Credit Obligations shall not exceed the amount of its Revolving Credit Commitment, provided further that the aggregate principal amount of all Revolving Credit Loans, together with the aggregate principal amount of all Swing Line Loans and the Aggregate Outstanding Amount (based in respect Letter of any Loan denominated in euros by reference to the Equivalent thereof in dollars determined on the date of delivery of the applicable Notice of Borrowing) Credit Obligations, at any one time outstanding to all Borrowers shall not exceed the Aggregate Commitmentsaggregate amount of the Revolving Credit Commitments of all of the Banks at such time, provided further that, subject to the foregoing limitations, from and after the Closing Date and continuing until such date, if any, as of which the Required Banks, in their sole discretion, shall have agreed in writing that the limitation contained in this proviso shall no longer be effective (at which time the limitation in the immediately foregoing proviso shall control), the aggregate principal amount of all Revolving Credit Loans, together with the aggregate principal amount of all Swing Line Loans and the Letter of Credit Obligations, at any one time outstanding shall not exceed the Revolving Credit Availability. Each Revolving Credit Borrowing that is a Euro-Dollar Borrowing under this Section 2.01 shall be in an aggregate principal amount of the Borrowing Minimum $2,500,000 or any larger multiple of the $500,000 and each Revolving Credit Borrowing Multiple that is a Base Rate Borrowing under this Section shall be in an aggregate principal amount of $1,000,000 or any larger multiple of $500,000 (except that any such Revolving Credit Borrowing may be in the aggregate amount available in accordance with Section 3.02(c)of the Total Unused Revolving Credit Commitments) and shall be made from the several Banks ratably in proportion to their respective Revolving Credit Commitments. Within the foregoing limits, the Borrowers Borrower may borrow under this Section 2.01, repayrepay or, or to the extent permitted by Section 2.10 prepay2.09, prepay Revolving Credit Loans and reborrow under this Section 2.01 at any time during before the Revolving Credit Period under this Section 2.01. Notwithstanding the foregoing, no more than fifteen (15) Term Benchmark Borrowings shall be outstanding at any one time, and any Borrowing that would exceed such limitation shall be made as an ABR BorrowingMaturity Date.

Appears in 1 contract

Samples: Credit Agreement (Cadmus Communications Corp/New)

Commitments to Lend. Each Bank severally ------------------- agrees, on the terms and conditions set forth in this Agreement, to make the Committed Loans to Borrower and participate in dollars and/or euros to Letters of Credit issued by the Company or any Eligible Fronting Bank on behalf of Borrower pursuant to this Section 2.01 from time to time time, but not more frequently than four times monthly, during the Revolving Credit Period; provided Term in amounts such that the Outstanding Amount sum of (based in respect i) the aggregate principal amount of any Loan denominated in euros by reference to the Equivalent thereof in dollars determined on the date of delivery of the applicable Notice of Borrowing) Committed Loans by such Bank at any one time outstanding to all Borrowers outstanding, plus (ii) such Bank's pro rata share of Letter -------- of Credit Usage shall not exceed the amount of such Bank's Commitment (in no event shall a Bank's participation in a Money Market Loan reduce a Bank's Commitment). The aggregate amount of Committed Loans to be made hereunder together with the aggregate pro rata share of principal amount of Money Market Loans participated in by such Bank (or its Commitment, Designated Bank) and the Aggregate Outstanding Amount (based in Letter of Credit Usage with respect of any Loan denominated in euros by reference to the Equivalent thereof in dollars determined on the date of delivery of the applicable Notice of Borrowing) at any one time outstanding to all Borrowers Borrower shall not exceed the Aggregate Commitmentsaggregate Commitment. Each Committed Borrowing under this Section 2.01 subsection (a) shall be in an aggregate principal amount of the Borrowing Minimum at least $2,500,000, or any larger an integral multiple of the Borrowing Multiple $1,000,000 in excess thereof (except that any such Borrowing may be in the aggregate amount available in accordance with Section 3.02(c3.2(c)) and and, other than with respect to Money Market Loans, shall be made from the several Banks ratably in proportion to their respective Commitments. Within Subject to the foregoing limitslimitations set forth herein, any amounts repaid may be reborrowed. Notwithstanding anything to the contrary, the Borrowers may borrow under this Section 2.01, repay, or number of new Borrowings shall be limited to the extent permitted by Section 2.10 prepay, Loans four Borrowings per month and reborrow at any time during the Revolving Credit Period under this Section 2.01. Notwithstanding the foregoing, no more than fifteen (15) Term Benchmark ten Borrowings shall be outstanding at any one time, and any Borrowing that would exceed such limitation shall be made as an ABR Borrowing.

Appears in 1 contract

Samples: Assignment and Assumption Agreement (Carramerica Realty Corp)

Commitments to Lend. Each Bank severally agrees, on Subject to the terms and conditions set forth in this AgreementAgreement and so long as no Default or Event of Default under this Agreement has occurred and is continuing, to make Loans in dollars and/or euros to the Company or any Eligible Borrower pursuant to this Section 2.01 from time to time during the Revolving Credit Period; provided that , each Bank severally agrees to make such loans to Borrower (individually, a "Revolving Credit Loan" and collectively, the Outstanding Amount (based in respect of any Loan denominated in euros by reference "Revolving Credit Loans") as Borrower may from time to the Equivalent thereof in dollars determined on the date of delivery of the applicable Notice of Borrowing) by such Bank at any one time outstanding request pursuant to all Borrowers shall not exceed the amount of its Commitment, and the Aggregate Outstanding Amount (based in respect of any Loan denominated in euros by reference to the Equivalent thereof in dollars determined on the date of delivery of the applicable Notice of Borrowing) at any one time outstanding to all Borrowers shall not exceed the Aggregate CommitmentsSection 2.02. Each Borrowing Revolving Credit Loan under this Section 2.01 which is a Prime Loan shall be in for an aggregate principal amount of the Borrowing Minimum at least $200,000.00 or any larger multiple of $50,000.00. Each Revolving Credit Loan under this Section 2.01 which is a LIBOR Loan shall be for an aggregate principal amount of at least $2,000,000.00 or any larger multiple of $500,000.00. The aggregate principal amount of Revolving Credit Loans which each Bank shall be required to have outstanding hereunder at any one time shall not exceed the Borrowing Multiple lesser of (except that any a) such Borrowing may be in Bank's Commitment or (b) such Bank's Pro Rata Share of the sum of (i) the total Commitments of all of the Banks, minus (ii) the aggregate principal amount available in accordance with of all outstanding Letter of Credit Loans minus (iii) the aggregate undrawn face amount of all outstanding Letters of Credit. Each Revolving Credit Loan under this Section 3.02(c)) and 2.01 shall be made from the several Banks ratably in proportion to their respective CommitmentsPro Rata Shares. Within the foregoing limits, the Borrowers Borrower may borrow under this Section 2.01, repay, or to the extent permitted by prepay under Section 2.10 prepay, Loans 2.08 and reborrow at any time during the Revolving Credit Period under this Section 2.01. Notwithstanding the foregoing, no more than fifteen (15) Term Benchmark Borrowings The failure of any Bank to make any Revolving Credit Loan required under this Agreement shall be outstanding at not release any one time, and any Borrowing that would exceed such limitation shall be made other Bank from its obligation to make Revolving Credit Loans as an ABR Borrowingprovided herein.

Appears in 1 contract

Samples: Revolving Credit Agreement (Huntco Inc)

Commitments to Lend. (a) Each Bank severally agrees, on the terms and conditions set forth in this Agreement, (a) to make Committed Loans in dollars and/or euros to the Company Borrower or to any Eligible Qualified Borrower and participate in Letters of Credit issued by any Fronting Bank on behalf of the Borrower or the Qualified Borrowers pursuant to this Section 2.01 Article from time to time during the Revolving Credit Period; provided term hereof in amounts such that the Outstanding Amount (based in respect aggregate principal amount of any Loan denominated in euros by reference to the Equivalent thereof in dollars determined on the date of delivery of the applicable Notice of Borrowing) Committed Loans made by such Bank plus such Bank’s Pro Rata Share of Swingline Loans at any one time outstanding to all Borrowers together with such Bank’s Pro Rata Share of the Letter of Credit Usage shall not exceed the amount Dollar Equivalent Amount of its Commitment, and (b) in furtherance and clarification of the Aggregate Outstanding Amount (based foregoing, as to Banks with an Alternate Currency Commitment only, to participate in respect Alternate Currency Letters of Credit issued by any Loan Fronting Bank on behalf of the Borrower or the Qualified Borrowers pursuant to this Article and to make Euro-Dollar Loans to the Borrower or to any Qualified Borrower denominated in euros by reference any Alternate Currency (provided (i) such Alternate Currency is readily available to such Banks and is freely transferable and convertible to Dollars, and (ii) Bloomberg (or any successor thereto) reports a London Interbank Offered Rate for such Alternate Currency relating to the applicable Interest Period), in an aggregate principal Dollar Equivalent thereof in dollars determined on the date of delivery of the applicable Notice of Borrowing) at any one time outstanding Amount not to all Borrowers shall not exceed the Aggregate Commitmentssuch Bank’s Alternate Currency Commitment. Each Borrowing outstanding under this Section 2.01 2.1 shall be in an aggregate principal amount the Dollar Equivalent Amount of the Borrowing Minimum which is $3,000,000, or any larger an integral multiple of the Borrowing Multiple $100,000 in excess thereof (except that any such Borrowing may be in the aggregate amount available in accordance with Section 3.02(c3.2(c), or in any amount required to reimburse the Fronting Bank for any drawing under any Letter of Credit or to repay the Swingline Lenders the amount of any Swingline Loan) and, other than with respect to Money Market Loans and Swingline Loans, shall be made from the several Banks ratably in proportion to their respective Commitments. Within In no event shall (i) the foregoing limitsaggregate Dollar Equivalent Amount of Loans outstanding at any time, plus outstanding Dollar Equivalent Amount of the Letter of Credit Usage, exceed $2,000,000,000 (or, if the Borrower exercises its option to increase the aggregate amount of the Dollar Commitments pursuant to Section 2.1(b), the Borrowers may borrow under this Section 2.01, repayaggregate amount of the Commitments as so increased), or (ii) the aggregate Dollar Equivalent Amount of Loans denominated in an Alternate Currency plus the outstanding aggregate Dollar Equivalent Amount of the Letter of Credit Usage for Alternate Currency Letters of Credit exceed the Alternate Currency Sublimit. Notwithstanding any other provision of this Agreement to the contrary, each Borrowing and Letter of Credit denominated in Dollars shall be deemed to use the Dollar Commitments to the extent permitted by Section 2.10 prepay, Loans and reborrow at any time during the Revolving Credit Period under this Section 2.01. Notwithstanding the foregoing, no more than fifteen (15) Term Benchmark Borrowings shall Dollar Sublimit would not be outstanding at any one timeexceeded thereby, and to use the Alternate Currency Commitments if such Alternate Currency Commitments are available in the event that the Dollar Commitments would be so exceeded. Subject to the limitations set forth herein, any Borrowing that would exceed such limitation shall amounts repaid may be made as an ABR Borrowingreborrowed.

Appears in 1 contract

Samples: Revolving Credit Agreement (Erp Operating LTD Partnership)

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