Committed Loans. Subject to the terms and conditions set forth herein, (i) each Multicurrency Revolving Credit Lender severally agrees to make loans (each such loan, a “Multicurrency Revolving Credit Loan”) to the Borrowers in Dollars or in one or more Alternative Currencies from time to time, on any Business Day during the Availability Period for the Multicurrency Revolving Credit Facility, in an aggregate amount not to exceed at any time outstanding such Multicurrency Revolving Credit Lender’s Multicurrency Revolving Credit Commitment and (ii) each US Dollar Revolving Credit Lender severally agrees to make loans (each such loan, a “US Dollar Revolving Credit Loan” and, together with the Multicurrency Revolving Credit Loans, the “Revolving Credit Loans”) to the Borrowers in Dollars from time to time, on any Business Day during the Availability Period for the US Dollar Revolving Credit Facility, in an aggregate amount not to exceed at any time outstanding the amount of such US Dollar Revolving Credit Lender’s US Dollar Revolving Credit Commitment; provided, however, that after giving effect to any Committed Borrowing of Revolving Credit Loans, (i) the Total Revolving Credit Outstandings shall not exceed the Revolving Credit Commitments, (ii) the Multicurrency Revolving Credit Exposure of any Multicurrency Revolving Credit Lender shall not exceed such Multicurrency Revolving Credit Lender’s Multicurrency Revolving Credit Commitment and (iii) the US Dollar Revolving Credit Exposure of any US Dollar Revolving Credit Lender shall not exceed such US Dollar Revolving Credit Lender’s US Dollar Revolving Credit Commitment. Within the limits of each Revolving Credit Lender’s Revolving Credit Commitment, and subject to the other terms and conditions hereof, the Borrowers may borrow under this Section 2.01, prepay under Section 2.05, and reborrow under this Section 2.01. Revolving Credit Loans may be Base Rate Loans, Term SOFR Loans or Eurocurrency Rate Loans, as further provided herein.
Appears in 2 contracts
Sources: Amendment No. 2 to Credit Agreement (Smithfield Foods Inc), Credit Agreement (Smithfield Foods Inc)
Committed Loans. Subject to the terms and conditions set forth herein, (i) each Multicurrency Revolving Credit Lender severally agrees to make loans (each such loan, a “Multicurrency Revolving Credit Loan”) to the Borrowers in Dollars or in one or more Alternative Currencies from time to time, on any Business Day during the Availability Period for the Multicurrency Revolving Credit Facility, in an aggregate amount not to exceed at any time outstanding such Multicurrency Revolving Credit Lender’s Multicurrency Revolving Credit Commitment and (ii) each US Dollar Revolving Credit Lender severally agrees to make loans (each such loan, a “US Dollar Revolving Credit Loan” and, together with the Multicurrency Revolving Credit Loans, the “Revolving Credit Loans”) to the Borrowers in Dollars from time to time, on any Business Day during the Availability Period for the US Dollar Revolving Credit Facility, in an aggregate amount not to exceed at any time outstanding the amount of such US Dollar Revolving Credit Lender’s US Dollar Revolving Credit Commitment; provided, however, that after giving effect to any Committed Borrowing of Revolving Credit Loans, (i) the Total Revolving Credit Outstandings shall not exceed the Revolving Credit Commitments, (ii) the Multicurrency Revolving Credit Exposure of any Multicurrency Revolving Credit Lender shall not exceed such Multicurrency Revolving Credit Lender’s Multicurrency Revolving Credit Commitment and (iii) the US Dollar Revolving Credit Exposure of any US Dollar Revolving Credit Lender shall not exceed such US Dollar Revolving Credit Lender’s US Dollar Revolving Credit Commitment. Within the limits of each Revolving Credit Lender▇▇▇▇▇▇’s Revolving Credit Commitment, and subject to the other terms and conditions hereof, the Borrowers may borrow under this Section 2.01, prepay under Section 2.05, and reborrow under this Section 2.01. Revolving Credit Loans may be Base Rate Loans, Term SOFR Loans or Eurocurrency Rate Loans, as further provided herein.
Appears in 2 contracts
Sources: Credit Agreement (Smithfield Foods Inc), Credit Agreement (Smithfield Foods Inc)
Committed Loans. (a) Subject to the terms and conditions set forth herein, (i) each Multicurrency Dollar Revolving Credit Lender severally agrees to make loans (each such loan, a “Multicurrency Committed Dollar Revolving Credit Loan”) to the Borrowers any Borrower, in Dollars or in one or more Alternative Currencies Dollars, from time to time, on any Business Day during the Availability Period for the Multicurrency Revolving Credit FacilityPeriod, in an aggregate amount Outstanding Amount not to exceed at any time outstanding the amount of such Multicurrency Dollar Revolving Credit Lender’s Multicurrency Dollar Revolving Credit Commitment and (ii) each US Dollar Alternative Currency Revolving Credit Lender severally agrees to make loans (each such loan, a “US Dollar Committed Alternative Currency Revolving Credit Loan” and, together with the Multicurrency Revolving Credit Loans, the “Revolving Credit Loans”) to the Borrowers any Borrower, in Dollars one or more Alternative Currencies, from time to time, on any Business Day during the Availability Period for the US Dollar Revolving Credit FacilityPeriod, in an aggregate amount Outstanding Amount not to exceed at any time outstanding the amount of such US Dollar Alternative Currency Revolving Credit Lender’s US Dollar Alternative Currency Revolving Credit Commitment; provided, however, that after giving effect to any Committed Borrowing of Revolving Credit LoansBorrowing, (iA) the Total Outstandings in respect of the Revolving Credit Outstandings Facility shall not exceed the Aggregate Revolving Credit Commitments, (iiB) the Multicurrency aggregate Outstanding Amount of the Committed Dollar Revolving Credit Exposure Loans of any Multicurrency Dollar Revolving Credit Lender, plus such Dollar Revolving Lender’s Dollar Revolving Facility Applicable Percentage of the Outstanding Amount of all L/C Obligations, plus such Dollar Revolving Lender’s Dollar Revolving Facility Applicable Percentage of the Outstanding Amount of all Swing Line Loans shall not exceed such Dollar Revolving Lender’s Dollar Revolving Commitment, (C) the aggregate Outstanding Amount of the Committed Alternative Currency Revolving Loans of any Alternative Currency Revolving Lender shall not exceed such Multicurrency Alternative Currency Revolving Credit Lender’s Multicurrency Alternative Currency Revolving Credit Commitment and Commitment, (iiiD) the US if a Revolving Lender is both a Dollar Revolving Credit Exposure Lender and an Alternative Currency Revolving Lender, the aggregate Outstanding Amount of any US the Committed Dollar Revolving Credit Loans of such Revolving Lender, plus such Revolving Lender’s Dollar Revolving Facility Applicable Percentage of the Outstanding Amount of all L/C Obligations, plus such Revolving Lender’s Dollar Revolving Facility Applicable Percentage of the Outstanding Amount of all Swing Line Loans, plus the aggregate Outstanding Amount of the Committed Alternative Currency Revolving Loans of such Revolving Lender shall not exceed such US the Dollar Revolving Credit Lender’s US Dollar Commitment of such Revolving Credit CommitmentLender and (E) the sum, without duplication, of the aggregate Outstanding Amount of all Committed Revolving Loans denominated in Alternative Currencies and the aggregate Outstanding Amount of all Committed Revolving Loans borrowed by the Borrowers other than the Company shall not exceed the Alternative Currency Sublimit. Within the limits of each Revolving Credit Lender’s Revolving Credit Commitment, and subject to the other terms and conditions hereof, the Borrowers each Borrower may borrow under this Section 2.012.01(a), prepay under Section 2.05, and reborrow under this Section 2.012.01(a). Committed Revolving Credit Loans may be Base Rate Loans, Term SOFR Loans or Eurocurrency Rate Loans, as further provided herein. To the extent the Committed Revolving Loans made by any Revolving Lender on the Amendment and Restatement Effective Date do not exceed the amount of the Committed Revolving Loans (as defined in the Original Agreement) then owing to such Revolving Lender under the Original Agreement, such Committed Revolving Loans shall be made in renewal and extension, but not in novation or discharge, of the Committed Revolving Loans (as defined in the Original Agreement) then owing to such Revolving Lender under the Original Agreement. All Committed Revolving Loans (as defined in the Original Agreement) outstanding on the Amendment and Restatement Effective Date under the Original Agreement shall be Committed Revolving Loans under this Agreement. Sums used by the Revolving Lenders on the Amendment and Restatement Effective Date to purchase Committed Revolving Loans (as defined in the Original Agreement) then outstanding under the Original Agreement from the Exiting Lenders and/or the Continuing Lenders pursuant to Section 10.18 shall be Committed Revolving Loans under this Agreement.
(b) Subject to the terms and conditions set forth herein, each Term Lender severally agrees to make a single loan (a “Committed Term Loan”) to the Company on the Amendment and Restatement Effective Date in an amount equal to such Term Lender’s Term Commitment. To the extent the Committed Term Loan made by any Term Lender does not exceed the amount of the Committed Term Loans or Additional Term Loans (each as defined in the Original Agreement) then owing to such Term Lender under the Original Agreement, such Committed Term Loan shall be made in renewal and extension, but not in novation or discharge, of the Committed Term Loans or Additional Term Loans (each as defined in the Original Agreement) then owing to such Term Lender under the Original Agreement. The Committed Term Loans may be repaid or prepaid but may not be reborrowed. Committed Term Loans may be Base Rate Loans or Eurocurrency Rate Loans as further provided herein. No Borrowings may be made under the Aggregate Term Commitments after the Amendment and Restatement Effective Date. All Committed Term Loans and Additional Loans (each as defined in the Original Agreement) outstanding on the Amendment and Restatement Effective Date under the Original Agreement shall be Committed Term Loans under this Agreement. Sums used by the Term Lenders on the Amendment and Restatement Effective Date to purchase Committed Term Loans (as defined in the Original Agreement) then outstanding under the Original Agreement from the Exiting Lenders and/or the Continuing Lenders pursuant to Section 10.18 shall be Committed Term Loans under this Agreement.
Appears in 1 contract
Sources: Credit Agreement (Outerwall Inc)
Committed Loans. (a) Subject to the terms and conditions set forth herein, (i) each Multicurrency Revolving Credit Lender severally agrees to make loans (each such loan, a “Multicurrency Revolving Credit Loan”) Loans to the Borrowers in Dollars or in one or more Alternative Currencies Borrower from time to time, on any Business Day during the Availability Period for the Multicurrency Revolving Credit Facility, in an aggregate amount not to exceed at any time outstanding such Multicurrency Revolving Credit Lender’s Multicurrency Revolving Credit Commitment and (ii) each US Dollar Revolving Credit Lender severally agrees to make loans (each such loan, a “US Dollar Revolving Credit Loan” and, together with the Multicurrency Revolving Credit Loans, the “Revolving Credit Loans”) to the Borrowers in Dollars from time to time, on any Business Day during the Availability Period for the US Dollar Revolving Credit FacilityPeriod, in an aggregate amount not to exceed at any time outstanding the amount of such US Dollar Revolving Credit Lender’s US Dollar Revolving Credit Commitment; provided, however, that after giving effect to any Committed Borrowing of Revolving Credit Loans, (i) the Total Revolving Credit Outstandings shall not exceed the Revolving Credit CommitmentsFacility, and (ii) the Multicurrency aggregate Outstanding Amount of the Revolving Credit Exposure Loans of any Multicurrency Revolving Credit Lender Lender, plus such Revolving Lender’s Pro Rata Share of the Outstanding Amount of all L/C Obligations, plus such Revolving Lender’s Pro Rata Share of the Outstanding Amount of all Swing Line Loans shall not exceed such Multicurrency Revolving Credit Lender’s Multicurrency Revolving Credit Commitment and (iii) the US Dollar Revolving Credit Exposure of any US Dollar Revolving Credit Lender shall not exceed such US Dollar Revolving Credit Lender’s US Dollar Revolving Credit Commitment. Within the limits of each Revolving Credit Lender’s Revolving Credit Commitment, and subject to the other terms and conditions hereof, the Borrowers Borrower may borrow under this Section 2.012.01(a), prepay under Section 2.05, and reborrow under this Section 2.012.01(a). Revolving Credit Loans may be Base Rate Loans, Term SOFR Loans or Eurocurrency Eurodollar Rate Loans, as further provided herein.
(b) Each Borrowing under any Incremental Term Facility shall consist of Term Loans made simultaneously by the Term Lenders on the Incremental Term Facility Effective Date for such Facility in accordance with their respective Term Commitments under such Facility as set forth in the applicable Incremental Term Facility Joinder. Amounts borrowed under this Section 2.01(b) and repaid or prepaid may not be reborrowed.
(c) Each Borrowing under any Other Term Facility shall consist of Term Loans made simultaneously by the Term Lenders on the date of effectiveness of the applicable Refinancing Amendment for such Facility in accordance with their respective Other Term Commitments under such Facility as set forth in the applicable Refinancing Amendment. Amounts borrowed under this Section 2.01(c) and repaid or prepaid may not be reborrowed.
(d) Each Borrowing under any Extended Term Facility shall consist of Term Loans made simultaneously by the Term Lenders on the date of effectiveness of the applicable Extension Amendment for such Facility in accordance with their respective Extended Term Commitments under such Facility as set forth in the applicable Extension Amendment. Amounts borrowed under this Section 2.01(d) and repaid or prepaid may not be reborrowed
Appears in 1 contract
Sources: Credit Agreement (Marina District Finance Company, Inc.)
Committed Loans. (a) Subject to the terms and conditions set forth hereinin this Agreement, (i) each Multicurrency Revolving Credit Lender severally agrees to make loans make, Convert and Continue Committed Loans (each such loan, a “Multicurrency "REVOLVING LOANS") until the Revolving Credit Loan”) to the Commitment Termination Date as Borrowers in Dollars or in one or more Alternative Currencies may from time to timetime request; PROVIDED, on any Business Day during the Availability Period for the Multicurrency Revolving Credit Facility, in an aggregate amount not to exceed at any time outstanding such Multicurrency Revolving Credit Lender’s Multicurrency Revolving Credit Commitment and (ii) each US Dollar Revolving Credit Lender severally agrees to make loans (each such loan, a “US Dollar Revolving Credit Loan” and, together with the Multicurrency Revolving Credit Loans, the “Revolving Credit Loans”) to the Borrowers in Dollars from time to time, on any Business Day during the Availability Period for the US Dollar Revolving Credit Facility, in an aggregate amount not to exceed at any time outstanding the amount of such US Dollar Revolving Credit Lender’s US Dollar Revolving Credit Commitment; provided, howeverHOWEVER, that after giving effect to any Committed Borrowing the Outstanding Obligations of Revolving Credit Loans, (i) the Total Revolving Credit Outstandings shall not exceed the Revolving Credit Commitments, (ii) the Multicurrency Revolving Credit Exposure of any Multicurrency Revolving Credit each Lender shall not exceed such Multicurrency Revolving Credit Lender’s Multicurrency Revolving Credit Commitment 's Commitment, and (iii) the US Dollar Revolving Credit Exposure Outstanding Obligations of any US Dollar Revolving Credit Lender all Lenders shall not exceed such US Dollar Revolving Credit Lender’s US Dollar Revolving Credit Commitmentthe Combined Commitments at any time. Within Subject to the limits of each Revolving Credit Lender’s Revolving Credit Commitment, foregoing and subject to the other terms and conditions hereof, the Borrowers may borrow borrow, Convert, Continue, prepay and reborrow Revolving Loans until the Revolving Commitment Termination Date as set forth herein without premium or penalty.
(b) If the conditions to the extension of the initial Maturity Date hereunder are satisfied pursuant to SECTION 2.13, all Revolving 42 Loans outstanding on the Revolving Commitment Termination Date, after giving effect to any prepayment thereof made on such date, shall be converted into term loans ("TERM LOANS") hereunder. No additional Term Loans shall be made hereunder. Subject to the terms and conditions set forth in this Agreement, each Lender severally agrees to Convert and Continue Term Loans until the Maturity Date as Borrowers may from time to time request; PROVIDED, HOWEVER, that the Outstanding Obligations of each Lender shall not exceed such Lender's Commitment, and the Outstanding Obligations of all Lenders shall not exceed the Combined Commitments at any time. Subject to the foregoing and the other terms and conditions hereof, Borrowers may Convert, Continue, and prepay Term Loans until the Maturity Date as set forth herein without premium or penalty. Term Loans that are repaid or prepaid may not be reborrowed.
(c) Loans made by each Lender shall be evidenced by one or more loan accounts or records maintained by such Lender in the Ordinary Course of Business. Such Lender's Loans shall be evidenced by one or more Notes, instead of or in addition to loan accounts. Each such Lender may attach schedules to its Note(s) and endorse thereon the date, amount and maturity of its Committed Loans and payments with respect thereto. Such loan accounts, records or Notes shall be conclusive absent manifest error of the amount of such Loans and payments thereon. Any failure so to record or any error in doing so shall not, however, limit or otherwise affect the obligation of Borrowers to pay any amount owing with respect to the Loans.
(d) Anything contained in this Agreement to the contrary notwithstanding, the Committed Loans and the Combined Commitment shall be subject to the following additional limitations:
(i) in no event shall the aggregate principal amount of outstanding Committed Loans, the proceeds of which are used to finance Construction/Renovation, exceed $100,000,000; and
(ii) in no event shall the Outstanding Obligations at any time exceed the lesser of (x) the Combined Commitments then in effect and (y) an amount equal to 300% of the Free Corporate Cash Flow for the four fiscal quarter period most recently ended on or before such time of determination.
(e) Subject to the provisions of SECTION 4.02, on the terms and subject to the conditions set forth in this SECTION 2.01(e), Borrowers may, on or at any time prior to March 11, 2004, by written notice to Administrative Agent, request an increase in the then effective aggregate principal amount of the Combined Commitments by (i) permitting any Lender to increase its Commitment (and accordingly increase the Combined Commitments by such amount), or (ii) inviting any Eligible Assignee that has previously been approved by Administrative Agent in writing to become a Lender under this Section 2.01Agreement and to provide a commitment to lend hereunder (and accordingly increase the Combined Commitments by such amount); PROVIDED, prepay however, that in no event shall such actions cause the aggregate principal amount of the Combined Commitments to increase above $500,000,000. Each of the Lenders acknowledges and agrees that, notwithstanding any contrary provisions of SECTION 10.01, (i) its consent to any such increase in the Combined Commitments shall not be required and (ii) Eligible Assignees may be added to this Agreement and any Lender may increase its Commitment without the consent or agreement of the other Lenders (PROVIDED, however, that no Lender's Commitment may be increased without such Lender's consent), so long as Administrative Agent and Borrowers have consented in writing to such Eligible Assignee or the increase in the Commitment of any of the Lenders, as applicable. Administrative Agent shall not unreasonably withhold its consent to Borrowers' request for an increase in the Combined Commitments under Section 2.05this SECTION 2.01(E) provided that Borrowers satisfy all of the following conditions precedent:
(i) No Default or Event of Default shall have occurred and remain uncured on the Increase Effective Date (as hereinafter defined), and reborrow under this Section 2.01. Revolving Credit Loans may be Base Rate LoansAdministrative Agent shall have received a certificate to that effect signed by an officer of the Borrowers;
(ii) Any Eligible Assignee is acceptable to Administrative Agent in its reasonable discretion;
(iii) Borrowers and each such Lender or Eligible Assignee shall have executed and delivered to Administrative Agent a Joinder Agreement in the form of EXHIBIT M attached hereto (a "JOINDER AGREEMENT");
(iv) Borrowers shall have paid to Administrative Agent, Term SOFR Loans for the account of such Lender or Eurocurrency Rate LoansEligible Assignee, Administrative Agent and BAS, as further provided hereinapplicable, a commitment fee and/or an arrangement fee in an amount reasonably satisfactory to Administrative Agent and Borrowers;
(v) Administrative Agent shall have sent written notice of each such request by Borrowers to the Lenders, together with notice of such Eligible Assignee's Commitment or such Lender's increased Commitment, as the case may be, and the effective date (the "INCREASE EFFECTIVE DATE") of such increase in the Combined Commitments; and
(vi) All requirements of this SECTION 2.01(e) shall have been satisfied. Upon the Increase Effective Date, and notwithstanding any contrary provision of this Agreement (i) each such Eligible Assignee shall become a party to this Agreement, and thereafter shall have all of the rights and obligations of a Lender hereunder, (ii) each such Eligible Assignee or Lender shall simultaneously pay to Administrative Agent, for distribution to the Lenders whose Pro Rata Shares of the Combined Commitments of all of the Lenders have decreased as a result of the new Commitment of such Eligible Assignee or the increased Commitment of such Lender, an amount equal to the product of such Eligible Assignee's Pro Rata Share (or the increase in such Lender's Pro Rata Share), expressed as a decimal, multiplied by the aggregate outstanding principal amount of the Loans on the date of determination, and (iii) each such Eligible Assignee or Lender shall thereafter be obligated to make its Pro Rata Share of Borrowings to Borrowers up to and including the amount of such Eligible Assignee's or Lender's Pro Rata Share of the increased Combined Commitments, on the terms and subject to the conditions set forth in this Agreement.
Appears in 1 contract
Sources: Credit Agreement (Apartment Investment & Management Co)
Committed Loans. (a) Committed Revolving Loans. Prior to the Closing Date, certain revolving loans were previously made to the Borrower under the Existing Credit Agreement which remain outstanding as of the Closing Date (such outstanding loans being hereinafter referred to as the “Existing Loans”). Subject to the terms and conditions set forth in this Agreement, the parties hereto agree that (x) on the Closing Date, the Existing Loans shall be re-evidenced as Committed Revolving Loans under this Agreement and the terms of the Existing Loans shall be restated in their entirety and shall be evidenced by this Agreement and (y) in connection therewith, the Administrative Agent shall make such reallocations, sales, assignments or other relevant actions in respect of each Revolving Lender’s credit exposure under the Existing Credit Agreement as are necessary in order that each such Lender’s Revolving Credit Exposure hereunder reflects such Lender’s Applicable Percentage of the Total Revolving Outstandings on the Closing Date. In addition, subject to the terms and conditions set forth herein, (i) each Multicurrency Revolving Credit Lender severally agrees to make revolving loans (each such loan, a “Multicurrency Committed Revolving Credit Loan”) to the Borrowers Borrower in Dollars or (subject to the provisions of Section 2.02(f)) in one or more Alternative Currencies from time to time, on any Business Day during the Availability Period for the Multicurrency Revolving Credit Facility, in an aggregate amount not to exceed at any time outstanding such Multicurrency Revolving Credit Lender’s Multicurrency Revolving Credit Commitment and (ii) each US Dollar Revolving Credit Lender severally agrees to make loans (each such loan, a “US Dollar Revolving Credit Loan” and, together with the Multicurrency Revolving Credit Loans, the “Revolving Credit Loans”) to the Borrowers in Dollars from time to time, on any Business Day during the Availability Period for the US Dollar Revolving Credit Facility, in an aggregate amount not to exceed at any time outstanding the amount of such US Dollar Revolving Credit Lender’s US Dollar Revolving Credit Commitment; provided, however, that after giving effect to any Committed Borrowing of Revolving Credit LoansBorrowing, (i) the Total Revolving Credit Outstandings shall not exceed the Aggregate Revolving Credit Commitments, (ii) the Multicurrency aggregate Outstanding Amount of the Committed Revolving Credit Exposure Loans of any Multicurrency Revolving Credit Lender (less, with respect only to the Alternative Currency Fronting Lender, the aggregate Alternative Currency Risk Participations in all Committed Revolving Loans denominated in Alternative Currencies), plus, with respect only to the Alternative Currency Participating Lenders, the Outstanding Amount of such Lender’s Alternative Currency Risk Participations in Loans denominated in Alternative Currencies and advanced by the Alternative Currency Fronting Lender, plus such Revolving Lender’s Applicable Percentage of the Outstanding Amount of all L/C Obligations shall not exceed such Revolving Lender’s Revolving Commitment, (iii) the aggregate Outstanding Amount of all Revolving Loans denominated in Alternative Currencies shall not exceed the Alternative Currency Sublimit and (iv) the aggregate Outstanding Amount of all Committed Revolving Loans denominated in an Alternative Currency fronted by any Alternative Currency Fronting Lender shall not exceed such Multicurrency Revolving Credit Lender’s Multicurrency Revolving Credit Commitment and (iii) the US Dollar Revolving Credit Exposure of any US Dollar Revolving Credit Lender shall not exceed such US Dollar Revolving Credit Lender’s US Dollar Revolving Credit Commitment$37,500,000. Within the limits of each Revolving Credit Lender’s Revolving Credit Commitment, and subject to the other terms and conditions hereof, the Borrowers Borrower may borrow under this Section 2.012.01(a), prepay under Section 2.052.06, and reborrow under this Section 2.012.01(a). Committed Revolving Credit Loans may be Base Rate Loans, Term SOFR LIBOR Daily Loans or Eurocurrency Rate Loans, as further provided herein.
Appears in 1 contract
Sources: Credit Agreement (Hcp, Inc.)
Committed Loans. Subject to the terms and conditions set forth herein, (i) each Multicurrency Revolving Credit Lender severally agrees to make loans (each such loan, a “Multicurrency Revolving Credit Loan”) to the Borrowers in Dollars or in one or more Alternative Currencies from time to time, on any Business Day during the Availability Period for the Multicurrency Revolving Credit Facility, in an aggregate amount not to exceed at any time outstanding such Multicurrency Revolving Credit Lender’s Multicurrency Revolving Credit Commitment and (ii) each US Dollar Revolving Credit Lender severally agrees to make loans (each such loan, a “US Dollar Revolving Credit Loan” and, together with the Multicurrency Revolving Credit Loans, the “Revolving Credit Loans”) to the Borrowers in Dollars from time to time, on any Business Day during the Availability Period for the US Dollar Revolving Credit Facility, in an aggregate amount not to exceed at any time outstanding the amount of such US Dollar Revolving Credit Lender’s US Dollar Revolving Credit Commitment; provided, however, that after giving effect to any Committed Borrowing of Revolving Credit Loans, (i) the Total Revolving Credit Outstandings shall not exceed the Revolving Credit Commitments, (ii) the Multicurrency Revolving Credit Exposure of any Multicurrency Revolving Credit Lender shall not exceed such Multicurrency Revolving Credit Lender’s Multicurrency Revolving Credit Commitment and (iii) the US Dollar Revolving Credit Exposure of any US Dollar Revolving Credit Lender shall not exceed such US Dollar Revolving Credit Lender’s US Dollar Revolving Credit Commitment. Within the limits of each Revolving Credit Lender▇▇▇▇▇▇’s Revolving Credit Commitment, and subject to the other terms and conditions hereof, the Borrowers may borrow under this Section 2.01, prepay under Section 2.05, and reborrow under this Section 2.01. Revolving Credit Loans may be Base Rate Loans, Term SOFR Loans or Eurocurrency Rate Loans, as further provided herein.
Appears in 1 contract
Committed Loans. Subject to the terms and conditions set forth herein, (i) each Multicurrency Revolving Credit Lender severally agrees to make loans (each such loan, loan a “Multicurrency Revolving Credit "Committed Loan”") in Dollars as follows:
(a) Each Lender that has a Tranche A-1 Term Loan Commitment severally agrees to lend to the Borrowers Borrower on the Closing Date an amount not exceeding its Tranche A-1 Term Loan Commitment. The aggregate amount of the Tranche A-1 Term Loan Commitments is $250,000,000. The Borrower may make only one borrowing under the Tranche A-1 Term Loan Commitments. Amounts borrowed under this Section 2.01(a) and subsequently repaid or prepaid may not be reborrowed. Tranche A-1 Term Loans may be Base Rate Loans or Eurodollar Rate Loans, as further provided herein.
(b) Each Lender that has a Tranche A-2 Term Loan Commitment severally agrees to lend to the Borrower, on any Business Day after the conditions set forth in Dollars Section 4.03 have been satisfied through and including December 31, 2004, an amount not exceeding its Tranche A-2 Term Loan Commitment. The aggregate amount of the Tranche A-2 Term Loan Commitments is $300,000,000. Each Lender's Tranche A-2 Term Loan Commitment shall expire immediately and without further action on December 31, 2004 if the Tranche A-2 Term Loans are not made on or in before that date. The Borrower may make only one borrowing under the Tranche A-2 Term Loan Commitments. Amounts borrowed under this Section 2.01(b) and subsequently repaid or more Alternative Currencies prepaid may not be reborrowed. Tranche A-2 Term Loans may be Base Rate Loans or Eurodollar Rate Loans, as further provided herein.
(c) Each Lender that has a Tranche B Term Loan Commitment severally agrees to lend to the Borrower on the Closing Date an amount not exceeding its Tranche B Term Loan Commitment. The aggregate amount of the Tranche B Term Loan Commitments is $150,000,000. The Borrower may make only one borrowing under the Tranche B Term Loan Commitments. Amounts borrowed under this Section 2.01(c) and subsequently repaid or prepaid may not be reborrowed. Tranche B Term Loans may be Base Rate Loans or Eurodollar Rate Loans, as further provided herein.
(d) Each Revolving Lender severally agrees to make Revolving Loans to the Borrower from time to time, on any Business Day during the Availability Period for the Multicurrency Revolving Credit Facility, in an aggregate amount not to exceed at any time outstanding such Multicurrency Revolving Credit Lender’s Multicurrency Revolving Credit Commitment and (ii) each US Dollar Revolving Credit Lender severally agrees to make loans (each such loan, a “US Dollar Revolving Credit Loan” and, together with the Multicurrency Revolving Credit Loans, the “Revolving Credit Loans”) to the Borrowers in Dollars from time to time, on any Business Day during the Availability Period for the US Dollar Revolving Credit FacilityPeriod, in an aggregate amount not to exceed at any time outstanding the amount of such US Dollar Revolving Credit Lender’s US Dollar 's Revolving Credit Loan Commitment; provided, however, that after giving effect to any Committed Borrowing of Revolving Credit LoansLoan, (i) the Total Utilization of Revolving Credit Outstandings Loan Commitments shall not exceed the Revolving Credit Loan Commitments, and (ii) the Multicurrency sum of (A) the aggregate Outstanding Amount of the Revolving Credit Exposure Loans of any Multicurrency Revolving Credit Lender Lender, plus (B) such Revolving Lender's Pro Rata Share of the Outstanding Amount of all L/C Obligations, plus (C) such Revolving Lender's Pro Rata Share of the Outstanding Amount of all Swing Line Loans shall not exceed such Multicurrency Revolving Credit Lender’s Multicurrency 's Revolving Credit Commitment Loan Commitment. The original aggregate amount of the Revolving Loan Commitments is $500,000,000; provided, however, that the Borrower shall not request, and (iii) the US Dollar Revolving Credit Exposure of any US Dollar Revolving Credit no Lender shall not exceed such US Dollar make, any Revolving Credit Lender’s US Dollar Loans that would result in the Total Utilization of Revolving Credit CommitmentLoan Commitments exceeding $190,000,000 until the conditions set forth in Section 4.03 have 39 been satisfied. Within the limits of each Revolving Credit Lender’s Revolving Credit Commitmentthis Section 2.01(d), and subject to the other terms and conditions hereof, the Borrowers Borrower may borrow Revolving Loans under this Section 2.012.01(d), prepay Revolving Loans under Section 2.052.08, and reborrow Revolving Loans under this Section 2.012.01(d). Revolving Credit Loans may be Base Rate Loans, Term SOFR Loans or Eurocurrency Eurodollar Rate Loans, as further provided herein.
Appears in 1 contract
Sources: Credit Agreement (Fisher Scientific International Inc)
Committed Loans. Subject to the terms and conditions set forth herein, (ia) each Multicurrency U.S. Revolving Credit Lender severally agrees to make loans (each such loan, a “Multicurrency U.S. Revolving Credit Loan”) to the Company in Dollars, from time to time on any Business Day during the Availability Period, in an aggregate amount not to exceed at any time outstanding the amount of such U.S. Revolving Credit Lender’s U.S. Revolving Credit Commitment; and (b) each Global Revolving Credit Lender severally agrees to make loans (each such loan, a “Global Revolving Credit Loan”) to the Company or the Designated Borrowers in Dollars or in one or more Alternative Currencies from time to time, on any Business Day during the Availability Period for the Multicurrency Revolving Credit Facility, in an aggregate amount not to exceed at any time outstanding such Multicurrency Revolving Credit Lender’s Multicurrency Revolving Credit Commitment and (ii) each US Dollar Revolving Credit Lender severally agrees to make loans (each such loan, a “US Dollar Revolving Credit Loan” and, together with the Multicurrency Revolving Credit Loans, the “Revolving Credit Loans”) to the Borrowers in Dollars from time to time, on any Business Day during the Availability Period for the US Dollar Revolving Credit FacilityPeriod, in an aggregate amount not to exceed at any time outstanding the amount of such US Dollar Global Revolving Credit Lender’s US Dollar Global Revolving Credit Commitment; provided, however, provided that (i) the Designated Borrowers shall only be permitted to borrow Global Revolving Credit Loans and (ii) after giving effect to any Committed Borrowing of Revolving Credit Loans, Borrowing:
(iA) (1) the Total U.S. Revolving Credit Outstandings shall not exceed the U.S. Revolving Credit Commitments, Facility and (ii2) the Multicurrency Total Global Revolving Credit Exposure Outstandings shall not exceed the Global Revolving Credit Facility;
(B) (1) the aggregate Outstanding Amount of the U.S. Revolving Credit Loans of any Multicurrency U.S. Revolving Credit Lender Lender, plus such U.S. Revolving Credit Lender’s Applicable Percentage of the Outstanding Amount of all U.S. Swing Line Loans, plus such U.S. Revolving Credit Lender’s Applicable Percentage of the Outstanding Amount of all L/C Obligations shall not exceed such Multicurrency U.S. Revolving Credit Lender’s Multicurrency U.S. Revolving Credit Commitment Commitment; and (iii2) the US Dollar aggregate Outstanding Amount of the Global Revolving Credit Exposure Loans of any US Dollar Global Revolving Credit Lender Lender, plus such Global Revolving Credit Lender’s Applicable Percentage of the Outstanding Amount of all Global Swing Line Loans shall not exceed such US Dollar Global Revolving Credit Lender’s US Dollar Global Revolving Credit Commitment; and
(C) the aggregate Outstanding Amount of all Committed Loans made to the Designated Borrowers shall not exceed the Designated Borrower Sublimit. Within the limits of each Revolving Credit Lender’s Revolving Credit Commitment, and subject to the other terms and conditions hereof, the Borrowers may borrow under this Section 2.01, prepay under Section 2.05, and reborrow under this Section 2.01. Revolving Credit Committed Loans may be Base Rate Loans, Term SOFR Loans or Eurocurrency Rate Loans, as further provided herein.
Appears in 1 contract
Committed Loans. (a) Subject to the terms and conditions set forth herein, (i) each Multicurrency Revolving Credit Tranche A Lender severally agrees to make loans (each such loan, a “Multicurrency Revolving Credit Loan”) to the Borrowers in US Dollars or in one or more Alternative Currencies (each such loan, a “Committed Tranche A Loan”) to the Tranche A Borrowers from time to time, on any Business Day during the Tranche A Availability Period for the Multicurrency Revolving Credit Facilityof such Lender, in an aggregate amount not to exceed at any time outstanding the amount of such Multicurrency Revolving Credit Lender’s Multicurrency Revolving Credit Unused Tranche A Commitment at such time. Within the limits of each Lender’s Unused Tranche A Commitment, and subject to the other terms and conditions hereof, the Tranche A Borrowers may borrow under this Section 2.1(a), prepay under Section 2.4, and reborrow under this Section 2.1(a). Committed Tranche A Loans may be Base Rate Loans or Eurocurrency Rate Loans, as further provided herein.
(iib) Subject to the terms and conditions set forth herein, each US Dollar Revolving Credit Tranche B Lender severally agrees to make loans to TCCI in US Dollars or in one or more Alternative Currencies, and (each such loani) in the case of a Tranche B Lender willing and able to accept Drafts, a to create acceptances (“US Dollar Revolving Credit Loan” and, together with the Multicurrency Revolving Credit Loans, the “Revolving Credit LoansBankers’ Acceptances”) by accepting Drafts and to purchase such Bankers’ Acceptances in accordance with Section 2.15(a) and (ii) in the Borrowers case of a Tranche B Lender which is unwilling or unable to accept Drafts, to purchase completed Drafts, which will not be accepted by the Tranche B Lender or any other Tranche B Lender in Dollars accordance with Section 2.15 from time to time, on any Business Day during the Tranche B Availability Period for the US Dollar Revolving Credit Facilityof such Tranche B Lender, in an aggregate amount not to exceed at any time outstanding the amount of such US Dollar Revolving Credit Lender’s US Dollar Revolving Credit Tranche B Commitment; provided, however, that after giving effect to any Committed Borrowing of Revolving Credit Loansmade by the Tranche B Lenders, (i) the Total Revolving Credit Outstandings applicable to TCCI shall not exceed the Revolving Credit Aggregate Tranche B Commitments, and (ii) the Multicurrency Revolving Credit Exposure aggregate Outstanding Amount of the Committed Tranche B Loans of any Multicurrency Revolving Credit Tranche B Lender plus such Lender’s ratable share of the Outstanding Amount of all Swing Line Loans made to TCCI shall not exceed such Multicurrency Revolving Credit Lender’s Multicurrency Revolving Credit Commitment and (iii) the US Dollar Revolving Credit Exposure of any US Dollar Revolving Credit Lender shall not exceed such US Dollar Revolving Credit Lender’s US Dollar Revolving Credit Commitment. Within the limits of each Revolving Credit Lender’s Revolving Credit Commitment, and subject to the other terms and conditions hereof, the Borrowers may borrow under this Section 2.01, prepay under Section 2.05, and reborrow under this Section 2.01. Revolving Credit Loans may be Base Rate Loans, Term SOFR Loans or Eurocurrency Rate Loans, as further provided herein.’s
Appears in 1 contract
Committed Loans. (a) Subject to the terms and conditions set forth hereinin this Agreement, (i) each Multicurrency Revolving Credit Lender severally agrees to make loans make, Convert and Continue Committed Loans (each such loan, a “Multicurrency "Revolving Credit Loan”Loans") to until the Borrowers in Dollars or in one or more Alternative Currencies Revolving Commitment Termination Date as Borrower may from time to time, on any Business Day during the Availability Period for the Multicurrency Revolving Credit Facility, in an aggregate amount not to exceed at any time outstanding such Multicurrency Revolving Credit Lender’s Multicurrency Revolving Credit Commitment and (ii) each US Dollar Revolving Credit Lender severally agrees to make loans (each such loan, a “US Dollar Revolving Credit Loan” and, together with the Multicurrency Revolving Credit Loans, the “Revolving Credit Loans”) to the Borrowers in Dollars from time to time, on any Business Day during the Availability Period for the US Dollar Revolving Credit Facility, in an aggregate amount not to exceed at any time outstanding the amount of such US Dollar Revolving Credit Lender’s US Dollar Revolving Credit Commitmentrequest; provided, however, that after giving effect to any Committed Borrowing the Outstanding Obligations of Revolving Credit Loans, (i) the Total Revolving Credit Outstandings shall not exceed the Revolving Credit Commitments, (ii) the Multicurrency Revolving Credit Exposure of any Multicurrency Revolving Credit each Lender shall not exceed such Multicurrency Revolving Credit Lender’s Multicurrency Revolving Credit Commitment 's Commitment, and (iii) the US Dollar Revolving Credit Exposure Outstanding Obligations of any US Dollar Revolving Credit Lender all Lenders shall not exceed such US Dollar Revolving Credit Lender’s US Dollar Revolving Credit Commitmentthe Combined Commitments at any time. Within Subject to the limits of each Revolving Credit Lender’s Revolving Credit Commitment, foregoing and subject to the other terms and conditions hereof, the Borrowers Borrower may borrow under this Section 2.01borrow, Convert, Continue, prepay under and reborrow Revolving Loans until the Revolving Commitment Termination Date as set forth herein without premium or penalty.
(b) If the conditions to the extension of the initial Maturity Date hereunder are satisfied pursuant to Section 2.052.13, all Revolving Loans outstanding on the Revolving Commitment Termination Date, after giving effect to any prepayment thereof made on such date, shall be converted into term loans ("Term Loans") hereunder. No additional Term Loans shall be made hereunder. Subject to the terms and conditions set forth in this Agreement, each Lender severally agrees to Convert and Continue Term Loans until the Maturity Date as Borrower may from time to time request; provided, however, that the Outstanding Obligations of each Lender shall not exceed such Lender's Commitment, and reborrow under the Outstanding Obligations of all Lenders shall not exceed the Combined Commitments at any time. Subject to the foregoing and the other terms and conditions hereof, Borrower may Convert, Continue, and prepay Term Loans until the Maturity Date as set forth herein without premium or penalty. Term Loans that are repaid or prepaid may not be reborrowed.
(c) Loans made by each Lender shall be evidenced by one or more loan accounts or records maintained by such Lender in the Ordinary Course of Business. Such Lender's Loans shall be evidenced by one or more Notes, instead of or in addition to loan accounts. Each such Lender may attach schedules to its Note(s) and endorse thereon the date, amount and maturity of its Committed Loans and payments with respect thereto. Such loan accounts, records or Notes shall be conclusive absent manifest error of the amount of such Loans and payments thereon. Any failure so to record or any error in doing so shall not, however, limit or otherwise affect the obligation of Borrower to pay any amount owing with respect to the Loans.
(d) Anything contained in this Section 2.01. Revolving Credit Agreement to the contrary notwithstanding, the Committed Loans may and the Combined Commitment shall be Base Rate subject to the following additional limitations:
(i) in no event shall the aggregate principal amount of outstanding Committed Loans, Term SOFR Loans the proceeds of which are used to finance Construction/Renovation, exceed $100,000,000; and
(ii) in no event shall the Outstanding Obligations at any time exceed the lesser of (x) the Combined Commitments then in effect and (y) an amount equal to 300% of the Free Corporate Cash Flow for the four fiscal quarter period most recently ended on or Eurocurrency Rate Loans, as further provided hereinbefore such time of determination.
Appears in 1 contract
Committed Loans. Subject to the terms and conditions set forth herein, (i) each Multicurrency U.S. Revolving Credit Lender severally agrees to make loans (each such loan, a “Multicurrency U.S. Revolving Credit Loan”) to the Borrowers in Dollars, from time to time on any Business Day during the Availability Period, in an aggregate amount not to exceed at any time outstanding the amount of such U.S. Revolving Credit Lender's U.S. Revolving Credit Commitment; and (ii) each Global Revolving Credit Lender severally agrees to make loans (each such loan, a “Global Revolving Credit Loan”) to the Borrowers in Dollars or in one or more Alternative Currencies from time to time, on any Business Day during the Availability Period for the Multicurrency Revolving Credit Facility, in an aggregate amount not to exceed at any time outstanding such Multicurrency Revolving Credit Lender’s Multicurrency Revolving Credit Commitment and (ii) each US Dollar Revolving Credit Lender severally agrees to make loans (each such loan, a “US Dollar Revolving Credit Loan” and, together with the Multicurrency Revolving Credit Loans, the “Revolving Credit Loans”) to the Borrowers in Dollars from time to time, on any Business Day during the Availability Period for the US Dollar Revolving Credit FacilityPeriod, in an aggregate amount not to exceed at any time outstanding the amount of such US Dollar Global Revolving Credit Lender’s US Dollar 's Global Revolving Credit Commitment; provided, however, provided that after giving effect to any Committed Borrowing of Revolving Credit Loans, Borrowing:
(iA) (1) the Total U.S. Revolving Credit Outstandings shall not exceed the U.S. Revolving Credit Commitments, Facility and (ii2) the Multicurrency Total Global Revolving Credit Exposure Outstandings shall not exceed the Global Revolving Credit Facility;
(B) (1) the aggregate Outstanding Amount of the U.S. Revolving Credit Loans of any Multicurrency U.S. Revolving Credit Lender, plus such U.S. Revolving Credit Lender’s Applicable Percentage of the Outstanding Amount of all Swing Line Loans, plus such U.S. Revolving Credit Lender’s Applicable Percentage of the Outstanding Amount of all L/C Obligations shall not exceed such U.S. Revolving Credit Lender’s U.S. Revolving Credit Commitment; and (2) the aggregate Outstanding Amount of the Global Revolving Credit Loans of any Global Revolving Credit Lender shall not exceed such Multicurrency Global Revolving Credit Lender’s Multicurrency Global Revolving Credit Commitment and Commitment; and
(iiiC) the US Dollar Revolving Credit Exposure aggregate Outstanding Amount of any US Dollar Revolving Credit Lender all Committed Loans made to the Designated Borrowers shall not exceed such US Dollar Revolving Credit Lender’s US Dollar Revolving Credit Commitmentthe Designated Borrower Sublimit. Within the limits of each Revolving Credit Lender’s Revolving Credit Commitment, and subject to the other terms and conditions hereof, the Borrowers may borrow under this Section 2.01, prepay under Section 2.05, and reborrow under this Section 2.01. Revolving Credit Committed Loans may be Base Rate Loans, Term SOFR Loans or Eurocurrency Rate Loans, 33 as further provided herein.
Appears in 1 contract
Committed Loans. Subject to the terms and conditions set forth herein, (ia) each Multicurrency U.S. Revolving Credit Lender severally agrees to make loans (each such loan, a “Multicurrency U.S. Revolving Credit Loan”) to the Borrowers in Dollars, from time to time on any Business Day during the Availability Period, in an aggregate amount not to exceed at any time outstanding the amount of such U.S. Revolving Credit Lender’s U.S. Revolving Credit Commitment; and (b) each Global Revolving Credit Lender severally agrees to make loans (each such loan, a “Global Revolving Credit Loan”) to the Borrowers in Dollars or in one or more Alternative Currencies Currencies, from time to time, time on any Business Day during the Availability Period for the Multicurrency Revolving Credit Facility, in an aggregate amount not to exceed at any time outstanding such Multicurrency Revolving Credit Lender’s Multicurrency Revolving Credit Commitment and (ii) each US Dollar Revolving Credit Lender severally agrees to make loans (each such loan, a “US Dollar Revolving Credit Loan” and, together with the Multicurrency Revolving Credit Loans, the “Revolving Credit Loans”) to the Borrowers in Dollars from time to time, on any Business Day during the Availability Period for the US Dollar Revolving Credit FacilityPeriod, in an aggregate amount not to exceed at any time outstanding the amount of such US Dollar Global Revolving Credit Lender’s US Dollar Global Revolving Credit Commitment; providedprovided that, however, that after giving effect to any Committed Borrowing of Revolving Credit Loans, Borrowing: (ii)(A) the Total U.S. Revolving Credit Outstandings shall not exceed the U.S. Revolving Credit Commitments, Facility and (iiB) the Multicurrency Total Global Revolving Credit Exposure Outstandings shall not exceed the Global Revolving Credit Facility; and (ii)(A) the aggregate Outstanding Amount of the U.S. Revolving Credit Loans of any Multicurrency U.S. Revolving Credit Lender Lender, plus such U.S. Revolving Credit Lender’s Applicable Percentage of the Outstanding Amount of all Swing Line Loans and L/C Obligations shall not exceed such Multicurrency U.S. Revolving Credit Lender’s Multicurrency U.S. Revolving Credit Commitment Commitment; and (iiiB) the US Dollar aggregate Outstanding Amount of the Global Revolving Credit Exposure Loans of any US Dollar Global Revolving Credit Lender Lender, plus such Global Revolving Credit Lender’s Applicable Percentage of the Outstanding Amount of all Swing Line Loans and L/C Obligations shall not exceed such US Dollar Global Revolving Credit Lender’s US Dollar Global Revolving Credit Commitment. Within the limits of each Revolving Credit Lender’s Revolving Credit Commitment, and subject to the other terms and conditions hereof, the Borrowers may borrow under this Section 2.01, prepay under Section 2.05, and reborrow under this Section 2.01. Revolving Credit Committed Loans may be Base Rate Loans, Term SOFR Loans or Eurocurrency Rate Loans, as further provided herein. Notwithstanding anything to the contrary contained herein, with respect to each Committed Borrowing consisting of Loans designated in Dollars, the Borrower shall, in accordance with Section 2.02, request that such Committed Borrowing be drawn ratably from each of the U.S. Revolving Credit Facility and the Global Revolving Credit Facility, based upon the percentage of the Aggregate Commitments represented by the U.S. Revolving Credit Facility and the Global Revolving Credit Facility, respectively.
Appears in 1 contract
Committed Loans. (a) Subject to the terms and conditions set forth herein, (i) each Multicurrency Revolving Credit Loan Lender severally agrees to make loans (each such loan, a “Multicurrency Committed Revolving Credit Loan”) Loans to the Borrowers in Dollars or in one or more Alternative Currencies from time to time, on any Business Day during the Availability Period for the Multicurrency Revolving Credit Facility, in an aggregate amount not to exceed at any time outstanding such Multicurrency Revolving Credit Lender’s Multicurrency Revolving Credit Commitment and (ii) each US Dollar Revolving Credit Lender severally agrees to make loans (each such loan, a “US Dollar Revolving Credit Loan” and, together with the Multicurrency Revolving Credit Loans, the “Revolving Credit Loans”) to the Borrowers in Dollars from time to time, on any Business Day during the Availability Period for the US Dollar Revolving Credit FacilityPeriod, in an aggregate amount not to exceed at any time outstanding the lesser of (x) the amount of such US Dollar Revolving Credit Loan Lender’s US Dollar Revolving Credit Loan Commitment, or (y) such Revolving Loan Lender’s Applicable Percentage of the Revolving Borrowing Base; provided, however, that subject in each case to the following limitations:
(i) after giving effect to any Committed Borrowing of Revolving Credit LoansLoan Borrowing, (i) the Total Revolving Credit Outstandings shall not exceed the Revolving Credit Commitments, Loan Cap,
(ii) after giving effect to any Committed Revolving Loan Borrowing, the Multicurrency aggregate Outstanding Amount of the Committed Revolving Credit Exposure Loans of any Multicurrency Revolving Credit Lender Loan Lender, plus such Revolving Loan Lender’s Applicable Percentage of the Outstanding Amount of all L/C Obligations, plus such Revolving Loan Lender’s Applicable Percentage of the Outstanding Amount of all Swing Line Loans shall not exceed such Multicurrency Revolving Credit Lender’s Multicurrency Revolving Credit Commitment and Loan Commitment, and
(iii) the US Dollar Revolving Credit Exposure The Outstanding Amount of any US Dollar Revolving Credit Lender all L/C Obligations shall not at any time exceed such US Dollar Revolving the Letter of Credit Lender’s US Dollar Revolving Credit CommitmentSublimit. Within the limits of each Revolving Credit Loan Lender’s Revolving Credit Loan Commitment, and subject to the other terms and conditions hereof, the Borrowers may borrow under this Section 2.01, prepay under Section 2.05, and reborrow under this Section 2.01.
(b) On the Fourth Restatement Date, and subject to the terms and conditions set forth herein, each FILO Term Loan Lender severally agrees to make FILO Term Loans to the Borrowers in an aggregate amount equal to the amount set forth opposite such FILO Term Loan Lender’s name set forth on Schedule 2.01 attached hereto. Revolving Credit Loans Amounts borrowed under this Section 2.01(b) and repaid or prepaid may not be Base Rate Loans, Term SOFR Loans or Eurocurrency Rate Loans, as further provided hereinreborrowed.
Appears in 1 contract
Sources: Credit Agreement (Lumber Liquidators Holdings, Inc.)
Committed Loans. (a) Subject to the terms and conditions set forth herein, (i) each Multicurrency Revolving Credit Lender severally agrees to make loans (each such loan, a “Multicurrency Committed Revolving Credit Loan”) to the Borrowers in Dollars or in one or more Alternative Currencies Borrower from time to time, on any Business Day during the Availability Period for the Multicurrency Revolving Credit Facility, in an aggregate amount not to exceed at any time outstanding such Multicurrency Revolving Credit Lender’s Multicurrency Revolving Credit Commitment and (ii) each US Dollar Revolving Credit Lender severally agrees to make loans (each such loan, a “US Dollar Revolving Credit Loan” and, together with the Multicurrency Revolving Credit Loans, the “Revolving Credit Loans”) to the Borrowers in Dollars from time to time, on any Business Day during the Availability Period for the US Dollar Revolving Credit FacilityPeriod, in an aggregate amount not to exceed at any time outstanding the amount of such US Dollar Revolving Credit Lender’s US Dollar Revolving Credit Commitment; provided, however, that after giving effect to any Committed Borrowing of Revolving Credit LoansBorrowing, (i) the Total Outstandings in respect of the Revolving Credit Outstandings Facility shall not exceed the Aggregate Revolving Credit Commitments, and (ii) the Multicurrency aggregate Outstanding Amount of the Committed Revolving Credit Exposure Loans of any Multicurrency Revolving Credit Lender Lender, plus such Revolving Lender’s Applicable Percentage of the Outstanding Amount of all L/C Obligations, plus such Revolving Lender’s Applicable Percentage of the Outstanding Amount of all Swing Line Loans shall not exceed such Multicurrency Revolving Credit Lender’s Multicurrency Revolving Credit Commitment and (iii) the US Dollar Revolving Credit Exposure of any US Dollar Revolving Credit Lender shall not exceed such US Dollar Revolving Credit Lender’s US Dollar Revolving Credit Commitment. Within the limits of each Revolving Credit Lender’s Revolving Credit Commitment, and subject to the other terms and conditions hereof, the Borrowers Borrower may borrow under this Section 2.012.01(a), prepay under Section 2.05, and reborrow under this Section 2.012.01(a). Committed Revolving Credit Loans may be Base Rate Loans, Term SOFR Loans or Eurocurrency Eurodollar Rate Loans, as further provided herein.
(b) Subject to the terms and conditions set forth herein, each Term Lender severally agrees to make a single loan (a “Committed Term Loan”) to the Borrower on the Amendment and Restatement Effective Date or on the Increase Effective Date, as applicable, in an amount not to exceed such Term Lender’s Commitment. Each Committed Borrowing shall consist of Committed Term Loans made simultaneously by the applicable Term Lenders. Amounts borrowed under this Section 2.01(b) and repaid or prepaid may not be reborrowed. Committed Term Loans may be Base Rate Loans or Eurodollar Rate Loans as further provided herein.
Appears in 1 contract
Sources: Credit Agreement (Coinstar Inc)
Committed Loans. Subject to the terms and conditions set forth herein, including without limitation the terms and conditions of Sections 2.02(f) and (ig) below and, in the case of any Designated Borrower, subject to Section 2.14 below, each Multicurrency Revolving Credit Lender severally agrees to make loans (each such loan, a “Multicurrency Revolving Credit Committed Loan”) to the Borrowers in Dollars or in one or more Alternative Currencies from time to time, on any Business Day during the Availability Period for the Multicurrency Revolving Credit Facility, in an aggregate amount not to exceed at any time outstanding such Multicurrency Revolving Credit Lender’s Multicurrency Revolving Credit Commitment and (ii) each US Dollar Revolving Credit Lender severally agrees to make loans (each such loan, a “US Dollar Revolving Credit Loan” and, together with the Multicurrency Revolving Credit Loans, the “Revolving Credit Loans”) to the Borrowers in Dollars from time to time, on any Business Day during the Availability Period for the US Dollar Revolving Credit FacilityPeriod, in an aggregate amount not to exceed at any time outstanding the amount of such US Dollar Revolving Credit Lender’s US Dollar Revolving Credit Commitment; provided, however, that after giving effect to any Committed Borrowing of Revolving Credit LoansBorrowing, (i) the Total Revolving Credit Outstandings shall not exceed the Revolving Credit Aggregate Commitments, (ii) the Multicurrency Revolving Credit Exposure aggregate Outstanding Amount of the Committed Loans of any Multicurrency Revolving Credit Lender (less, with respect only to the Alternative Currency Funding Fronting Lender, the aggregate Alternative Currency Risk Participations in all Loans denominated in Alternative Currencies; and less, with respect only to the Singapore Borrowing Funding Fronting Lender, the aggregate Singapore Borrowing Risk Participations in all Loans pursuant to a Singapore Borrowing Event), plus, with respect only to the Alternative Currency Participating Lenders, the Outstanding Amount of such Lender’s Alternative Currency Risk Participations in Loans denominated in Alternative Currencies and advanced by the Alternative Currency Funding Fronting Lender, plus, with respect only to the Singapore Borrowing Participating Lenders, the Outstanding Amount of such Lender’s Singapore Borrowing Risk Participations in Loans pursuant to a Singapore Borrowing Event and advanced by the Singapore Borrowing Funding Fronting Lender, plus such Lender’s Applicable Percentage of the Outstanding Amount of all L/C Obligations, plus such Lender’s Applicable Percentage of the Outstanding Amount of all Swing Line Loans shall not exceed such Multicurrency Revolving Credit Lender’s Multicurrency Revolving Credit Commitment and Commitment, (iii) the US Dollar Revolving Credit Exposure aggregate Outstanding Amount of any US Dollar Revolving Credit Lender all Committed Loans made to the Designated Borrowers shall not exceed such US Dollar Revolving Credit Lender’s US Dollar Revolving Credit Commitmentthe Designated Borrower Sublimit, and (iv) the aggregate Outstanding Amount of all Committed Loans denominated in Alternative Currencies shall not exceed the Alternative Currency Sublimit. Within the limits of each Revolving Credit Lender’s Revolving Credit Commitment, and subject to the other terms and conditions hereof, the Borrowers may borrow under this Section 2.01, prepay under Section 2.05, and reborrow under this Section 2.01. Revolving Credit Committed Loans may be Eurocurrency Rate Loans or, in the case of Committed Loans denominated in Dollars only, Base Rate Loans, Term SOFR Loans or Eurocurrency Rate Loans, as further provided herein.
Appears in 1 contract
Committed Loans. Subject to the terms and conditions set forth herein, (i) each Multicurrency Revolving Credit Lender severally agrees to make loans Revolving Loans to the applicable Borrower (each such loanwhich, a “Multicurrency in the case of the Initial Revolving Credit Loan”Facility, shall be any Borrower) from time to the Borrowers time in Dollars or in one or more Alternative Currencies from time to timeCurrencies, if any, on any Business Day during the Availability Period for the Multicurrency Revolving Credit Facility, in an aggregate amount not to exceed at any time outstanding such Multicurrency Revolving Credit Lender’s Multicurrency Revolving Credit Commitment and (ii) each US Dollar Revolving Credit Lender severally agrees to make loans (each such loan, a “US Dollar Revolving Credit Loan” and, together with the Multicurrency Revolving Credit Loans, the “Revolving Credit Loans”) to the Borrowers in Dollars from time to time, on any Business Day during the Availability Period for the US Dollar applicable Revolving Credit Facility, in an aggregate amount not to exceed at any time outstanding the amount of such US Dollar Revolving Lender’s Revolving Commitment under the applicable Revolving Credit Lender’s US Dollar Revolving Credit CommitmentFacility; provided, however, that that, after giving effect to any Committed Borrowing of Revolving Credit Loans, (ix) the Total Revolving Credit Outstandings shall not exceed the Aggregate Revolving Credit Commitments, and (iiy) the Multicurrency aggregate Outstanding Amount of the Revolving Credit Exposure Loans of any Multicurrency Revolving Credit Lender Lender, plus such Revolving Lender’s Pro Rata Share of the Outstanding Amount of all L/C Obligations, plus such Revolving Lender’s Pro Rata Share of the Outstanding Amount of all Swing Line Loans shall not exceed such Multicurrency ▇▇▇▇▇▇’s Revolving Commitment. For the avoidance of doubt, the applicable Borrower may elect the Revolving Credit Lender’s Multicurrency Facility under which any Borrowing of Revolving Loans shall be made (for the avoidance of doubt, each Borrower shall be permitted to borrow Revolving Loans on a non pro rata basis between any Revolving Credit Commitment Facility and (iii) the US Dollar any other Revolving Credit Exposure of any US Dollar Revolving Credit Lender shall not exceed such US Dollar Revolving Credit Lender’s US Dollar Revolving Credit CommitmentFacility). Within the limits of each Revolving Credit Lender▇▇▇▇▇▇’s Revolving Credit Commitment, and subject to the other terms and conditions hereof, the Borrowers any Borrower may borrow under this Section 2.01, prepay under Section 2.05, and reborrow under this Section 2.01. Revolving Credit Loans may be Base Rate Loans, Term SOFR Loans, Eurocurrency Term Rate Loans, Eurocurrency Daily Rate Loans, EURIBO Rate Loans, Alternative Currency Term Rate Loans or Eurocurrency ▇▇▇▇▇ Rate Loans, as further provided herein.
Appears in 1 contract
Sources: Credit Agreement (Pursuit Attractions & Hospitality, Inc.)
Committed Loans. (a) Subject to the terms and conditions set forth hereinin this Agreement, (i) each Multicurrency Revolving Credit Lender severally agrees to make loans make, Convert and Continue Committed Loans (each such loan, a “Multicurrency "Revolving Credit Loan”Loans") to until the Revolving Commitment Termination Date as Borrowers in Dollars or in one or more Alternative Currencies may from time to time, on any Business Day during the Availability Period for the Multicurrency Revolving Credit Facility, in an aggregate amount not to exceed at any time outstanding such Multicurrency Revolving Credit Lender’s Multicurrency Revolving Credit Commitment and (ii) each US Dollar Revolving Credit Lender severally agrees to make loans (each such loan, a “US Dollar Revolving Credit Loan” and, together with the Multicurrency Revolving Credit Loans, the “Revolving Credit Loans”) to the Borrowers in Dollars from time to time, on any Business Day during the Availability Period for the US Dollar Revolving Credit Facility, in an aggregate amount not to exceed at any time outstanding the amount of such US Dollar Revolving Credit Lender’s US Dollar Revolving Credit Commitmentrequest; provided, however, that after giving effect to any Committed Borrowing the Outstanding Obligations of Revolving Credit Loans, (i) the Total Revolving Credit Outstandings shall not exceed the Revolving Credit Commitments, (ii) the Multicurrency Revolving Credit Exposure of any Multicurrency Revolving Credit each Lender shall not exceed such Multicurrency Revolving Credit Lender’s Multicurrency Revolving Credit Commitment 's Commitment, and (iii) the US Dollar Revolving Credit Exposure Outstanding Obligations of any US Dollar Revolving Credit Lender all Lenders shall not exceed such US Dollar Revolving Credit Lender’s US Dollar Revolving Credit Commitmentthe Combined Commitments at any time. Within Subject to the limits of each Revolving Credit Lender’s Revolving Credit Commitment, foregoing and subject to the other terms and conditions hereof, the Borrowers may borrow under this Section 2.01borrow, Convert, Continue, prepay under and reborrow Revolving 36 Loans until the Revolving Commitment Termination Date as set forth herein without premium or penalty.
(b) If the conditions to the extension of the initial Maturity Date hereunder are satisfied pursuant to Section 2.052.13, all Revolving Loans outstanding on the Revolving Commitment Termination Date, after giving effect to any prepayment thereof made on such date, shall be converted into term loans ("Term Loans") hereunder. No additional Term Loans shall be made hereunder. Subject to the terms and conditions set forth in this Agreement, each Lender severally agrees to Convert and Continue Term Loans until the Maturity Date as Borrowers may from time to time request; provided, however, that the Outstanding Obligations of each Lender shall not exceed such Lender's Commitment, and reborrow under the Outstanding Obligations of all Lenders shall not exceed the Combined Commitments at any time. Subject to the foregoing and the other terms and conditions hereof, Borrowers may Convert, Continue, and prepay Term Loans until the Maturity Date as set forth herein without premium or penalty. Term Loans that are repaid or prepaid may not be reborrowed.
(c) Loans made by each Lender shall be evidenced by one or more loan accounts or records maintained by such Lender in the Ordinary Course of Business. Such Lender's Loans shall be evidenced by one or more Notes, instead of or in addition to loan accounts. Each such Lender may attach schedules to its Note(s) and endorse thereon the date, amount and maturity of its Committed Loans and payments with respect thereto. Such loan accounts, records or Notes shall be conclusive absent manifest error of the amount of such Loans and payments thereon. Any failure so to record or any error in doing so shall not, however, limit or otherwise affect the obligation of Borrowers to pay any amount owing with respect to the Loans.
(d) Anything contained in this Section 2.01. Revolving Credit Agreement to the contrary notwithstanding, the Committed Loans may and the Combined Commitment shall be Base Rate subject to the following additional limitations:
(i) in no event shall the aggregate principal amount of outstanding Committed Loans, Term SOFR Loans the proceeds of which are used to finance Construction/Renovation, exceed $100,000,000; and
(ii) in no event shall the Outstanding Obligations at any time exceed the lesser of (x) the Combined Commitments then in effect and (y) an amount equal to 300% of the Free Corporate Cash Flow for the four fiscal quarter period most recently ended on or Eurocurrency Rate Loans, as further provided hereinbefore such time of determination.
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Committed Loans. (a) Subject to the terms and conditions set forth herein, each Lender (iexcept as hereinafter provided regarding Alternative Currency Loans) each Multicurrency Revolving Credit Lender severally agrees to make loans (each such loan, a “Multicurrency Revolving Credit Committed Loan”) to the Borrowers in Dollars or in one or more Alternative Currencies from time to time, on any Business Day during the Availability Period for the Multicurrency Revolving Credit Facility, in an aggregate amount not to exceed at any time outstanding such Multicurrency Revolving Credit Lender’s Multicurrency Revolving Credit Commitment and (ii) each US Dollar Revolving Credit Lender severally agrees to make loans (each such loan, a “US Dollar Revolving Credit Loan” and, together with the Multicurrency Revolving Credit Loans, the “Revolving Credit Loans”) to the Borrowers in Dollars from time to time, on any Business Day during the Availability Period for the US Dollar Revolving Credit FacilityPeriod, in an aggregate amount not to exceed at any time outstanding the amount of such US Dollar Revolving Credit Lender’s US Dollar Revolving Credit Commitment; provided, however, that after giving effect to any Committed Borrowing of Revolving Credit LoansBorrowing, (i) the Total Revolving Credit Outstandings shall not exceed the Revolving Credit Aggregate Commitments, (ii) the Multicurrency Revolving Credit Exposure aggregate Outstanding Amount of the Committed Loans of any Multicurrency Revolving Credit Lender Lender, plus such Lender’s Applicable Percentage of the Outstanding Amount of all L/C Obligations, plus such Lender’s Applicable Percentage of the Outstanding Amount of all Swing Line Loans shall not exceed such Multicurrency Revolving Credit Lender’s Multicurrency Revolving Credit Commitment Commitment, and (iii) the US Dollar Revolving Credit Exposure aggregate Outstanding Amount of any US Dollar Revolving Credit Lender all Committed Loans denominated in Alternative Currencies shall not exceed such US Dollar Revolving Credit Lender’s US Dollar Revolving Credit Commitmentthe Alternative Currency Sublimit. Within the limits of each Revolving Credit Lender’s Revolving Credit Commitment, and subject to the other terms and conditions hereof, the Borrowers may borrow under this Section 2.012.1, prepay under Section 2.052.5, and reborrow under this Section 2.012.1. Revolving Credit Committed Loans may be Base Rate Loans, Term SOFR Loans or Eurocurrency Rate Loans, as further provided herein.
(i) Upon a request for an Alternative Currency Loan, the Fronting Lender agrees subject to the limitations set forth herein, to fund the Fronting Lender’s Applicable Percentage of such Alternative Currency Loan in the requested currency with respect to such Committed Borrowing (each a “Fronting Loan”), notwithstanding the fact that such Fronting Loan when aggregated with the Fronting Lender’s Applicable Percentage of other Committed Loans may exceed the amount of such Fronting Lender’s Commitment. The Fronting Lender at any time in its sole and absolute discretion may request that each Alternative Currency Non-Qualified Lender, and each Alternative Currency Non-Qualified Lender hereby irrevocably and unconditionally agrees to, purchase from such Fronting Lender a risk participation in such Alternative Currency Non-Qualified Lender’s Applicable Percentage of such Fronting Loan in the Dollar Equivalent of such Fronting Loan. Such request shall be made in writing (which written request shall be deemed to be a Committed Loan Notice for purposes hereof) and in accordance with the requirements of Section 2.2, without regard to the minimum and multiples specified therein for the principal amount of Eurodollar Rate Loans, but subject to the unutilized portion of the Aggregate Commitments and the conditions set forth in Section 4.2.
(ii) Each Alternative Currency Non-Qualified Lender shall make an amount equal to its Applicable Percentage of the amount specified in such Committed Loan Notice available to the Administrative Agent in Same Day Funds for the account of the Fronting Lender at the Administrative Agent’s Office for Dollar-denominated payments not later than 1:00 p.m. on the day specified in such Committed Loan Notice. The Administrative Agent shall remit the funds so received to the Fronting Lender. The purchase of such risk participation in each Alternative Currency Loan by such Alternative Currency Non-Qualified Lender shall satisfy such Alternative Currency Non-Qualified Lender funding requirements under this Section 2.1(b).
(iii) If any Alternative Currency Non-Qualified Lender fails to make available to the Administrative Agent for the account of the Fronting Lender any amount required to be paid by such Alternative Currency Non-Qualified Lender pursuant to the foregoing provisions of this Section 2.1(b) by the time specified in Section 2.2, the Fronting Lender shall be entitled to recover from such Alternative Currency Non-Qualified Lender (acting through the Administrative Agent), on demand, such amount with interest thereon for the period from the date such payment is required to the date on which such payment is immediately available to such Fronting Lender at a rate per annum equal to the applicable Overnight Rate from time to time in effect. A certificate of the Fronting Lender submitted to any Alternative Currency Non-Qualified Lender (through the Administrative Agent) with respect to any amounts owing under this clause (c) shall be conclusive absent manifest error.
(iv) Each Alternative Currency Non-Qualified Lender’s obligation to purchase and fund participations in Alternative Currency Loans pursuant to this Section 2.1(b) shall be absolute and unconditional and shall not be affected by any circumstance, including (A) any set-off, counterclaim, recoupment, defense or other right which such Alternative Currency Non-Qualified Lender may have against the Fronting Lender, the Company or any other Person for any reason whatsoever, (B) the occurrence or continuance of a Default, or (C) any other occurrence, event or condition, whether or not similar to any of the foregoing. No such funding of risk participations shall relieve or otherwise impair the obligation of the Company to repay Alternative Currency Loans, together with interest as provided herein.
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