Common use of Facility B Commitment Clause in Contracts

Facility B Commitment. The Banks which issued a "Facility B Commitment" under and as defined in the Prior Loan Agreement have previously lent to the Borrower the amount in the aggregate of $125,000,000 of which $50,000,000 is outstanding on the Agreement Date. The Borrower hereby acknowledges that all "Obligations" in respect of "Advances" outstanding under the "Facility B Commitment" (as such terms are defined in the Prior Loan Agreement) shall be deemed to have been made to the Borrower as Advances of the Facility B Commitment hereunder and shall constitute a portion of the Obligations. The Banks agree, severally, in accordance with their respective Commitment Ratios, and not jointly, upon the terms and subject to the conditions of this Agreement, to lend to the Borrower, on a single date on or after the ProNet Merger Date but prior to the Facility B Commitment Termination Date, an additional amount not to exceed, in the aggregate, $75,000,000. The obligation of the Banks to fund the additional $75,000,000 under the Facility B Commitment shall be automatically terminated in the event the ProNet Merger Date fails to occur on or prior to the Facility B Commitment Termination Date. Subject to the terms and conditions hereof, Advances under the Facility B Commitment may be repaid and reborrowed to effect a change in the Interest Rate Basis or Interest Periods relating thereto; provided, however, there shall be no increase in the principal amount outstanding under the Facility B Commitment following the making of the Advance under the Facility B Commitment in connection with the ProNet Merger in an amount not to exceed $75,000,000.