Common use of Facility A Clause in Contracts

Facility A. Subject to the terms and conditions contained herein and until the Termination Date, Lenders shall make loans to Borrower on a revolving basis in amounts requested by Borrower from time to time (the "FACILITY A LOANS" and each, a "FACILITY A LOAN") in an aggregate amount outstanding at any time not to exceed the lesser of $10,000,000.00 or the amount permitted by paragraph (f) of this Section 2.02. In addition, each Facility A Loan shall be in an aggregate amount that is an integral multiple of $100,000.00, and no such Facility A Loan shall be less than the Minimum Loan. Facility A Loans may, upon request of Lenders, be evidenced by a Revolving Loan Note in the form attached hereto as EXHIBIT A. Subject to availability, at Borrower's request, L/C Issuer will issue documentary letters of credit (each, a "DOCUMENTARY LETTER OF CREDIT") up to an aggregate dollar amount outstanding at any one time of Four Million Dollars ($4,000,000.00) under Facility A, and any such drawdowns made under such Documentary Letters of Credit shall be funded by Facility A Loans at the time of such drawdown; PROVIDED, HOWEVER, the amount of outstanding Loans and the face amount of outstanding Documentary Letters of Credit shall not at any time exceed the Maximum Amount. Each drawdown and any expense payable by Borrower in accordance with EXHIBIT J hereto under any such Documentary Letter of Credit shall constitute a Loan under Facility C from the date of such drawdown to the first day of the next succeeding calendar month, at which time such Facility C Loan shall be refunded under Facility A and each Lender shall fund its respective Applicable Percentage of such Facility A Loan. Borrower shall deliver to L/C Issuer a completed and executed application form together with such other documents in the forms then required by L/C Issuer prior to the issuance of any Documentary Letter of Credit. In the event of any inconsistency between L/C Issuer's required forms and this Agreement, the Mortgages and the Assignments, the provisions of this Agreement, the Mortgages and the Assignments shall prevail. In addition, the special provisions of EXHIBIT J shall apply to any and all Documentary Letters of Credit.

Appears in 1 contract

Sources: Participation and Loan and Security Agreement (K-Sea Transportation Partners Lp)

Facility A. Subject Each Lender agrees to the terms and conditions contained herein and until the Termination Date, Lenders shall make loans lend to Borrower its Pro Rata Part of one or more Borrowings under Facility A which Borrower may borrow, repay and reborrow under this Agreement; (a) Each Borrowing under Facility A must occur on a revolving basis in amounts requested by Borrower from time to time (Business Day and no later than the "FACILITY A LOANS" and each, a "FACILITY A LOAN") in an aggregate amount outstanding at any time not to exceed Business Day immediately preceding the lesser of $10,000,000.00 or the amount permitted by paragraph (f) of this Section 2.02. In addition, each Facility A Loan shall Maturity Date; (b) Each Borrowing must be in an aggregate amount that is an not less than (i) $1,000,000 or a greater integral multiple of $100,000.00100,000 (if an ABR Borrowing other than a Swing Line Borrowing) or (ii) $2,000,000 or a greater integral multiple of $100,000 (if a LIBOR Rate Borrowing); (c) When determined, (i) the Facility A Commitment Usage may not exceed the Facility A Committed Sum, (ii) no Lender's Pro Rata Part of the Facility A Commitment Usage may exceed such Lender's Facility A Committed Sum, and no such (iii) the Facility A Loan Commitment Usage, when aggregated with the Facility B Principal Debt may not exceed the Total Commitment; (d) The Borrower shall make a Borrowing under Facility A on the Closing Date in an amount sufficient to refinance its existing revolving credit facility with The Chase Manhattan Bank, as Agent; and (e) The principal amount of $2,512,300 of the Facility A Committed Sum shall be less than the Minimum Loan. Facility A Loans may, upon request of Lenders, be evidenced by a Revolving Loan Note in the form attached hereto as EXHIBIT A. Subject available to availability, at Borrower's request, L/C Issuer will issue documentary letters of credit (each, a "DOCUMENTARY LETTER OF CREDIT") up to an aggregate dollar amount outstanding at any one time of Four Million Dollars ($4,000,000.00) under Facility A, and any such drawdowns made under such Documentary Letters of Credit shall be funded by Facility A Loans at the time of such drawdown; PROVIDED, HOWEVER, the amount of outstanding Loans and the face amount of outstanding Documentary Letters of Credit shall not at any time exceed the Maximum Amount. Each drawdown and any expense payable by Borrower in accordance with EXHIBIT J hereto under any such Documentary Letter of Credit shall constitute a Loan under Facility C from the date of such drawdown to hereof until March 15, 1999, (the first day of the next succeeding calendar month, "LEASE FACILITY FUND") at which time such the Facility C Loan A Committed Sum shall be refunded under permanently reduced by the Lease Facility A Fund and each Lender no amounts of the Lease Facility Fund may be drawn by Borrower thereafter. Borrowings from the Lease Facility Fund shall fund its respective Applicable Percentage be used solely for the purchase by Borrower of such Facility A Loan. Borrower shall deliver to L/C Issuer a completed certain designated properties approved by Agent and executed application form together with such other documents in the forms then required by L/C Issuer prior subject to the issuance lease agreements between Monro Leasing, LLC, a Delaware limited liability company, and a Wholly Owned Subsidiary of any Documentary Letter of Credit. In the event of any inconsistency between L/C Issuer's required forms Borrower, as Lessee, and this AgreementBrazos Automotive Properties, the Mortgages and the AssignmentsL.P., the provisions of this Agreement, the Mortgages and the Assignments shall prevail. In addition, the special provisions of EXHIBIT J shall apply to any and all Documentary Letters of Creditas Lessor.

Appears in 1 contract

Sources: Credit Agreement (Monro Muffler Brake Inc)

Facility A. Subject to the terms and conditions contained herein and until the Termination Date, Lenders shall make loans to Borrower on a revolving basis in amounts requested by Borrower from time to time (the "FACILITY “Facility A LOANS" Loans” and each, a "FACILITY “Facility A LOAN"Loan”) in an aggregate amount outstanding at any time not to exceed the lesser of $10,000,000.00 or the amount permitted by paragraph (f) of this Section 2.02. In addition, each Facility A Loan shall be in an aggregate amount that is an integral multiple of $100,000.00, and no such Facility A Loan shall be less than the Minimum Loan. Facility A Loans may, upon request of Lenders, be evidenced by a Revolving Loan Note in the form attached hereto as EXHIBIT Exhibit A. Subject to availability, at Borrower's ’s request, L/C Issuer will issue documentary letters of credit (each, a "DOCUMENTARY LETTER OF CREDIT"“Documentary Letter of Credit”) up to an aggregate dollar amount outstanding at any one time of Four Million Dollars ($4,000,000.00) under Facility A, and any such drawdowns made under such Documentary Letters of Credit shall be funded by Facility A Loans at the time of such drawdown; PROVIDEDprovided, HOWEVERhowever, the amount of outstanding Loans and the face amount of outstanding Documentary Letters of Credit shall not at any time exceed the Maximum Amount. Each drawdown and any expense payable by Borrower in accordance with EXHIBIT Exhibit J hereto under any such Documentary Letter of Credit shall constitute a Loan under Facility C from the date of such drawdown to the first day of the next succeeding calendar month, at which time such Facility C Loan shall be refunded under Facility A and each Lender shall fund its respective Applicable Percentage of such Facility A Loan. Borrower shall deliver to L/C Issuer a completed and executed application form together with such other documents in the forms then required by L/C Issuer prior to the issuance of any Documentary Letter of Credit. In the event of any inconsistency between L/C Issuer's ’s required forms and this Agreement, the Mortgages and the Assignments, the provisions of this Agreement, the Mortgages and the Assignments shall prevail. In addition, the special provisions of EXHIBIT Exhibit J shall apply to any and all Documentary Letters of Credit.

Appears in 1 contract

Sources: Participation and Loan and Security Agreement (K-Sea Tranportation Partners Lp)

Facility A. Subject to Until the Revolving Credit Termination Date, each Lender agrees, on the terms and conditions contained herein and until the Termination Dateset forth in this Agreement, Lenders shall to make loans (individually, a "Facility A Loan" and, collectively, the "Facility A Loans") to Borrower on a revolving basis in amounts requested by Borrower the Borrowers from time to time (in a principal amount requested by either Borrower up to the "FACILITY A LOANS" and each, a "FACILITY A LOAN") in an aggregate maximum amount outstanding at any time not to exceed of the lesser of $10,000,000.00 or the amount permitted by paragraph (f) of this Section 2.02. In addition, each Facility A Loan shall be in an aggregate amount that is an integral multiple of $100,000.00, and no Commitment which each Lender agrees to extend to the Borrowers as set forth opposite such Lender's signature hereto under the heading "Facility A Loan shall Commitment" or as otherwise provided in Section 10.13 hereof, as such amount may be less than reduced pursuant hereto. The Facility A Commitments may be utilized by the Minimum Loan. Borrowers in the form of Facility A Loans mayand Letters of Credit, upon request all as more fully hereinafter set forth, provided that the aggregate principal amount of Lenders, be evidenced by a Revolving Loan Note in the form attached hereto as EXHIBIT A. Subject to availability, at Borrower's request, L/C Issuer will issue documentary letters Facility A Loans and Letters of credit (each, a "DOCUMENTARY LETTER OF CREDIT") up to an aggregate dollar amount Credit outstanding at any one time of Four Million Dollars ($4,000,000.00) under Facility AA shall not exceed the lesser of (i) the Facility A Commitments and (ii) the Borrowing Base as then determined and computed. During the period from and including the date hereof to but not including the Revolving Credit Termination Date, the Borrowers may use the Facility A Commitments by borrowing, repaying and any reborrowing Facility A Loans in whole or in part and/or by having the Agent issue Letters of Credit, having such drawdowns made under such Documentary Letters of Credit shall be funded by expire or otherwise terminate without having been drawn upon or, if drawn upon, reimbursing the Agent for each such drawing, and having the Agent issue new Letters of Credit, all in accordance with the terms and conditions of this Agreement. For purposes of this Agreement, where a determination of the unused or available amount of the Facility A Loans at the time of such drawdown; PROVIDED, HOWEVERCommitments is necessary, the amount of outstanding Facility A Loans, the Facility B Loans and the face amount of outstanding Documentary all Letters of Credit shall be deemed to utilize the Facility A Commitments. The obligations of the Lenders hereunder are several and not at joint, and no Lender shall under any time exceed circumstances be obligated to extend credit under the Maximum AmountFacility A Commitments in excess of its Facility A Commitment. Each drawdown and any expense payable by Borrower Borrowing of Facility A Loans shall be made ratably from the Lenders in accordance with EXHIBIT J hereto under any such Documentary Letter of Credit shall constitute a Loan under Facility C from the date of such drawdown to the first day of the next succeeding calendar month, at which time such Facility C Loan shall be refunded under their Facility A and each Lender shall fund its respective Applicable Percentage of such Facility A Loan. Borrower shall deliver to L/C Issuer a completed and executed application form together with such other documents in the forms then required by L/C Issuer prior to the issuance of any Documentary Letter of Credit. In the event of any inconsistency between L/C Issuer's required forms and this Agreement, the Mortgages and the Assignments, the provisions of this Agreement, the Mortgages and the Assignments shall prevail. In addition, the special provisions of EXHIBIT J shall apply to any and all Documentary Letters of CreditCommitments.

Appears in 1 contract

Sources: Credit Agreement (Lasalle Partners Inc)