Initial Revolving Loan Sample Clauses

Initial Revolving Loan. The proceeds of the initial Revolving Loans shall be applied by Borrower contemporaneously to consummate the refinancing of and repay in full all outstanding principal and accrued and unpaid interest under the Existing Credit Agreement.
Sample 1
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Initial Revolving Loan. Assuming satisfaction of all of the conditions precedent to funding set forth in Article 5, Banks shall be deemed to have made Revolving Loans to Borrower on the Closing Date (the "Initial Revolving Loan") in an amount equal to the outstanding principal sum owing by Borrower pursuant to the Prior Agreement , and Borrower shall, thereupon, be deemed to have repaid such sum. Upon payment by Borrower of all other amounts owing under the Prior Agreement, Agent shall collect from the Banks and thereupon return to Borrower marked "CANCELLED" the promissory notes made in connection with the Prior Agreement.
Sample 1
Initial Revolving Loan. This Agreement shall not become effective and Banks shall not be required to make the Initial Revolving Loan hereunder unless Borrower has furnished to Agent on or before the Closing Date, with sufficient copies for Banks each of the following acceptable to Agent, each dated as of the Closing Date (or such earlier date as shall be acceptable to Agent):
Sample 1
Initial Revolving Loan. The obligations of the Seasoned Warehouse Lenders to make and the Seasoned Warehouse Agent to disburse the Lenders' respective Funding Shares of the initial Seasoned Warehouse Revolving Loan are subject to satisfaction on or before the Disbursement Date for such Revolving Loan of each of the following conditions precedent:
Sample 1
Initial Revolving Loan. On or prior to the Maturity Date, the Borrower agrees to pay the Lender the principal amount of the Initial Revolving Loan in an amount equal to $66,000,000, which is equal to Xxxxxxxx’s share of the loans borrowed by the Lender under the Revolving Credit Agreement or debt incurred through the issuance of Commercial Paper as set forth on Schedule 1 hereto. The Borrower agrees to reimburse the Lender for the Borrower’s proportionate amount of all interest, prepayment premiums and costs incurred by the Lender to fund the Initial Revolving Loan, when and as such amounts are payable by the Lender in accordance with the Revolving Credit Agreement or Commercial Paper, as applicable.
Sample 1
Initial Revolving Loan. The obligation of Lender to make the initial Revolving Loan under this Agreement is, in addition to the conditions precedent specified in Section 8.1 and Section 8.3 hereof, subject to satisfaction of each of the following conditions precedent;
Sample 1
Initial Revolving Loan. The obligation of the Bank to make the initial Revolving Loan to the Company hereunder on or after the date hereof is subject to the satisfaction, on or before the date of the making of such Revolving Loan, of each of the following conditions precedent:
Sample 1
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Initial Revolving Loan. The obligation of Lender to make its initial Revolving Loan shall be subject to the prior or concurrent satisfaction (in form and substance satisfactory to Lender) of each of the conditions precedent set forth below.
Sample 1

Related to Initial Revolving Loan

  • Revolving Loan Commitment Each Lender with a Revolving Loan Commitment agrees to make loans on a revolving basis (“Revolving Loans”) from time to time until the Termination Date in such Lender’s Pro Rata Share of such aggregate amounts as the Company may request from all Lenders; provided that the Revolving Outstandings will not at any time exceed Revolving Loan Availability.

  • Funding of Revolving Loans Upon receipt of a Notice of Borrowing, the Administrative Agent shall promptly inform the Lenders as to the terms thereof. Each Lender will make its pro rata share of the Revolving Loans available to the Administrative Agent by 1:00 p.m. on the date specified in the Notice of Borrowing by deposit (in U.S. dollars) of immediately available funds at the offices of the Administrative Agent at its principal office in New York, New York, or at such other address as the Administrative Agent may designate in writing. All Revolving Loans shall be made by the Lenders pro rata on the basis of each Lender's Commitment Percentage. No Lender shall be responsible for the failure or delay by any other Lender in its obligation to make Loans hereunder; provided, however, that the failure of any Lender to fulfill its obligations hereunder shall not relieve any other Lender of its obligations hereunder. Unless the Administrative Agent shall have been notified by any Lender prior to the date of any such Loan that such Lender does not intend to make available to the Administrative Agent its portion of the Loans to be made on such date, the Administrative Agent may assume that such Lender has made such amount available to the Administrative Agent on the date of such Loans, and the Administrative Agent in reliance upon such assumption, may (in its sole discretion without any obligation to do so) make available to the relevant Borrower a corresponding amount. If such corresponding amount is not in fact made available to the Administrative Agent, the Administrative Agent shall be able to recover such corresponding amount from such Lender. If such Lender does not pay such corresponding amount forthwith upon the Administrative Agent's demand therefor, the Administrative Agent will promptly notify the relevant Borrower and such Borrower shall immediately pay such corresponding amount to the Administrative Agent. The Administrative Agent shall also be entitled to recover from the Lender or such Borrower, as the case may be, interest on such corresponding amount in respect of each day from the date such corresponding amount was made available by the Administrative Agent to such Borrower to the date such corresponding amount is recovered by the Administrative Agent at a per annum rate equal to (a) from such Borrower at the applicable rate for such Loan pursuant to the Notice of Borrowing and (b) from a Lender at the Federal Funds Rate.

  • Revolving Loan The Borrower shall repay to the Lenders in full on the date specified in clause (a) of the definition of “Revolving Termination Date” the aggregate principal amount of the Revolving Loans and Swing Loans outstanding on the Revolving Termination Date.

  • Repayment of Revolving Loans The Revolving Loans and all other Liabilities (other than the Term Loan) shall be repaid on the last day of the Original Term or any Renewal Term if this Agreement is renewed pursuant to Section 10 hereof.

  • The Revolving Loans (a) Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Revolving Loans to the Borrower from time to time on any Business Day during the period from the date hereof until the Termination Date applicable to such Lender in an aggregate outstanding amount not to exceed at any time such Lender’s Available Commitment at such time. Within the limits of each Lender’s Commitment and as hereinabove and hereinafter provided, including without limitation Section 2.01(b), the Borrower may request a Borrowing hereunder, and repay or prepay Revolving Loans pursuant to Section 2.14 and utilize the resulting increase in the Available Commitments for further Extensions of Credit in accordance with the terms hereof.

  • Term Loan Commitments Subject to the terms and conditions hereof, and relying upon the representations and warranties herein set forth, each Lender severally agrees to make a term loan (the “Term Loan”) to the Borrower on the Closing Date in such principal amount as the Borrower shall request up to, but not exceeding such Lender’s Term Loan Commitment.

  • Term Loan Commitment As to each Term Loan Lender, the amount equal to such Term Loan Lender’s Term Loan Commitment Percentage of the aggregate principal amount of the Term Loans from time to time outstanding to the Borrower.

  • Making Revolving Credit Loans The Administrative Agent shall, promptly after receipt by it of a Loan Request pursuant to Section 2.5 [Revolving Credit Loan Requests; Swing Loan Requests], notify the Lenders of its receipt of such Loan Request specifying the information provided by the Borrower and the apportionment among the Lenders of the requested Revolving Credit Loans as determined by the Administrative Agent in accordance with Section 2.2 [Nature of Lenders’ Obligations with Respect to Revolving Credit Loans]. Each Lender shall remit the principal amount of each Revolving Credit Loan to the Administrative Agent such that the Administrative Agent is able to, and the Administrative Agent shall, to the extent the Lenders have made funds available to it for such purpose and subject to Section 7.2 [Each Loan or Letter of Credit], fund such Revolving Credit Loans to the Borrower in U.S. Dollars and immediately available funds at the Principal Office prior to 2:00 p.m., on the applicable Borrowing Date; provided that if any Lender fails to remit such funds to the Administrative Agent in a timely manner, the Administrative Agent may elect in its sole discretion to fund with its own funds the Revolving Credit Loans of such Lender on such Borrowing Date, and such Lender shall be subject to the repayment obligation in Section 2.6.2 [Presumptions by the Administrative Agent].

  • Repayment of Revolving Credit Loans The Borrower shall repay the Revolving Credit Loans together with all outstanding interest thereon on the Expiration Date.

  • Term Loan Subject to the terms and conditions set forth herein, each Lender severally agrees to make its portion of a term loan (the “Term Loan”) to the Borrower in Dollars on the Closing Date in an amount not to exceed such Lender’s Term Loan Commitment. Amounts repaid on the Term Loan may not be reborrowed. The Term Loan may consist of Base Rate Loans or Eurodollar Rate Loans, or a combination thereof, as further provided herein, provided, however, all Borrowings made on the Closing Date shall be made as Base Rate Loans.

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