Liquidity Loans. (a) Subject to and upon the terms and conditions herein set forth, each Liquidity Bank severally agrees on a revolving basis prior to the Liquidity Commitment Expiration Date, to make a loan or loans (each a “Liquidity Loan” and collectively, the “Liquidity Loans”) to BAFC, which Liquidity Loans may be repaid and the principal amount thereof (with the exception of Exiting Loans) reborrowed and bear interest in accordance with the provisions hereof and shall be made by the Liquidity Banks (with the exception of Exiting Loans) pro rata on the basis of their Percentages of the Aggregate Liquidity Commitment as follows:
Liquidity Loans. 24 SECTION 2.4
Liquidity Loans. Subject to the terms and conditions of this Agreement, the Borrower may designate any Revolving Credit Loan at the time of incurrence thereof as a Liquidity Loan; PROVIDED, that (a) a Distribution Shortfall exists as of the end of the then most recently ended fiscal quarter; (b) the Borrower shall have accelerated and obtained the full amount of the Management Cash Reserve available as of the date of the occurrence of such Distribution Shortfall; (c) the cumulative aggregate principal amount of all Liquidity Loans incurred during the life of the Credit Facilities shall not exceed $22,000,000; (d) the aggregate principal amount of Liquidity Loans incurred in any fiscal quarter shall not exceed the lesser of (i) the amount of the Net Distribution Shortfall as of the end of the preceding fiscal quarter and (ii) $11,600,000 MINUS the relevant Management Cash Reserve; and (e) no Liquidity Loan may be requested at any time when the Liquidity Reserve Amount is less than $1.00.
Liquidity Loans. SECTION 3.02 The Liquidity Loan Notes.
Liquidity Loans. (a) Subject to and upon the terms and conditions herein set forth, each Liquidity Bank under a Liquidity Commitment Tranche severally agrees on a revolving basis prior to the respective Liquidity Tranche Expiration Date, to make a loan or loans (each a “Liquidity Loan” and collectively, the “Liquidity Loans”) to BAFC, which Liquidity Loans may be repaid and the principal amount thereof (with the exception of Exiting Loans) reborrowed and bear interest in accordance with the provisions hereof and shall be made by the Liquidity Banks (with the exception of Exiting Loans) pro rata on the basis of their Percentages of the Aggregate Liquidity Commitment or, with respect to Liquidity Loans made pursuant to subsections 3.01(a)(ii) and 3.01(a)(v), the applicable Liquidity Commitment Tranche, as follows:
Liquidity Loans. (a) Subject to the terms and conditions of this Agreement, each Lender severally agrees to make Liquidity Loans to the Company from time to time during the Liquidity Availability Period in an aggregate principal amount at any one time outstanding not to exceed such Lender's Commitment Percentage of the Liquidity Subfacility Amount, provided that (i) the aggregate unpaid principal balance of all Liquidity Loans at any one time outstanding shall not exceed the Liquidity Subfacility Amount and (ii) the aggregate unpaid principal balance of all Liquidity Loans, R/C Loans and Competitive Bid Loans at any one time outstanding, plus the Letter of Credit Exposure at such time, shall not exceed the Aggregate Commitments. During such period, the Company may borrow, prepay in whole or in part and reborrow Liquidity Loans, all in accordance with the terms and conditions hereof. Subject to the provisions of paragraphs 2.3 and 2.7, Liquidity Loans may be (a) Base Rate Loans or (b) Eurodollar Loans, or any combination thereof. Notwithstanding the foregoing, in the event that the Agent shall not have obtained a perfected first priority Lien (or the equivalent thereof under the relevant local law) on the Non-Domestic Collateral on or before the Liquidity Subfacility Effective Date except for the Collateral described in the proviso to paragraph 2.27(a), the aggregate unpaid principal balance of all Liquidity Loans outstanding at any one time shall not exceed the lesser of $30,000,000 and the Liquidity Subfacility Amount at such time until the Agent shall have obtained a perfected first priority Lien (or the equivalent thereof under the relevant local law) on the Non-Domestic Collateral. Upon the Agent obtaining a perfected first priority Lien (or the equivalent thereof under the relevant local law) on the Non-Domestic Collateral pursuant to (and subject to the limitations set forth in) paragraph 2.27, the aggregate unpaid principal balance of all Liquidity Loans outstanding at any one time shall not exceed the Liquidity Subfacility Amount, subject to the provisions of the first sentence of this paragraph 2.26(a).
Liquidity Loans. (a) Subject to the terms and conditions set forth herein, including subsection (b) below, on each Subsequent Closing Date, TaeguTec or IMC shall (or shall cause another of IMC’s Affiliates to), pursuant to and as the lender under a loan agreement, deliver cash to the Company by wire transfer of immediately available funds to an account designated by the Company, in each case in the form of a term loan to the Company (as the borrower under such loan), in an amount up to the Xxxxxx Subsequent Contribution Amount for the applicable Subsequent Contribution(the “TaeguTec to JV Loan”); provided, that, without limiting any of the other provisions of this Agreement, TaeguTec’s obligations under this Section 2.04(a) and the Company’s obligations under subsection (c) are in each case conditioned upon, at or prior to the first Subsequent Closing Date, execution and delivery by TaeguTec (and/or its applicable Affiliates) and each of Sangdong and Xxxxxx (and/or their applicable Affiliates) of one or more agreements (or amendments to this Agreement or the Ancillary Agreements), satisfactorily eliminating the negative economic impact to IMC (in its capacity as an equityholder of Sangdong from and after the consummation of the transactions contemplated by the Subscription Agree- ment) related to the use of proceeds of the JV to Sangdong Loan contemplated by (d), and with minimal impact to the structure and economics of the transaction to the parties necessary to achieve the foregoing (the “Leakage Solution”), it being understood that the parties hereto shall cooperate and negotiate in good faith to achieve the foregoing as soon as reasonably practicable following the execution of this Agreement.
Liquidity Loans. Section 2.26 of the Credit Agreement is hereby amended by adding a new paragraph 2.26(d) at the end thereof to read in its entirety as follows:
Liquidity Loans. ...........................................................................3
Liquidity Loans. ......................................................................3 SECTION 3.02 The Liquidity Loan Notes................................................................9 SECTION 3.03 Interest...............................................................................10 SECTION 3.04 Responsibilities of Each Liquidity Bank................................................11 SECTION 3.05 Confirming Letters of Credit...........................................................11
