Common use of Loan Availability Clause in Contracts

Loan Availability. (i) Subject to the terms and conditions set forth in this Agreement, Lenders hereby agree to make Loans (other than Swingline Loans) to Borrower from time to time during the period from the Closing Date to the first Business Day preceding the Maturity Date; provided, that the sum of the aggregate principal amount of all outstanding Loans (including Swingline Loans) plus the aggregate face amount of all outstanding Letters of Credit shall not exceed Loan Availability; and provided, further, that if a Base Rate Loan is being made pursuant to Section 2.09(e) hereof to reimburse Issuing Lender for a drawn Letter of Credit, to avoid a duplicative reduction in the amount of Loan Availability, the drawn Letter of Credit shall not be considered outstanding. All Loans (other than Swingline Loans) under this Agreement shall be made by Lenders simultaneously and proportionately to their respective Pro Rata Shares, it being understood that no Lender shall be responsible for any failure by any other Lender to perform its obligation to make a Loan hereunder and that the Commitment of any Lender shall not be increased or decreased as a result of the failure by any other Lender to perform its obligation to make a Loan. The Loans (other than Swingline Loans) will be evidenced by the Loan Notes. The Swingline Loans will be evidenced by the Swingline Note. (ii) Loans (including, without limitation, Swingline Loans) may be voluntarily prepaid pursuant to Section 2.05(a) and, subject to the provisions of this Agreement (including, without limitation, the provisions of Section 2.11 hereof), any amounts so prepaid may be reborrowed, up to the amount available under Section 2.01(a)(i) at the time of such Borrowing, until the Business Day next preceding the Termination Date. The principal balance of the Loans shall be payable in full on the Termination Date. During the term of this Agreement and prior to the termination of the Commitments, Borrower shall pay to Agent, within one (1) Business Day after Borrower's receipt of a demand in writing from Agent for the benefit of Lenders, such principal amounts as are necessary so that the sum of the aggregate principal amounts of all outstanding Loans (including Swingline Loans) plus the aggregate face amount of all outstanding Letters of Credit at any time does not exceed Loan Availability at such time.

Loan Availability. (i) Subject to the terms and conditions set forth in this Agreement, Lenders hereby agree to make Loans (other than Swingline Loans) to Borrower from time to time during the period from the Closing Date to the first Business Day next preceding the Maturity Date; provided, that Date (but in no event later than the sum conversion of the Facility to the Term Loan in accordance with subparagraph (d) below), in an aggregate principal amount of all outstanding Loans (including Swingline Loans) plus the aggregate face amount of all outstanding Letters of Credit which shall not exceed Loan Availability; and provided, further, that if a Base Rate Loan is being made pursuant to Section 2.09(e) hereof to reimburse Issuing Lender for a drawn Letter of Credit, to avoid a duplicative reduction in the amount of Loan Availability, the drawn Letter of Credit shall not be considered outstanding. All Loans (other than Swingline Loans) under this Agreement shall be made by Lenders simultaneously and proportionately to their respective Pro Rata Shares, it being understood that no Lender shall be responsible for any failure by any other Lender to perform its obligation to make a Loan hereunder and that the Commitment of any Lender shall not be increased or decreased as a result of the failure by any other Lender to perform its obligation to make a Loan. The Loans (other than Swingline Loans) will be evidenced by the Loan Notes. The Swingline Loans will be evidenced by the Swingline Note. (ii) Loans (including, without limitation, Swingline Loans) may be voluntarily prepaid pursuant to Section 2.05(a2.06(a) and, subject to the provisions of this Agreement (including, without limitation, the provisions of Section 2.11 hereof)Agreement, any amounts so prepaid may be reborrowed, up to the amount available reborrowed under this Section 2.01(a)(i2.01(a) (i) at the time of such Borrowing, until the Business Day next preceding the Termination Date. The principal balance of the Loans shall be payable in full on the Termination Maturity Date. During The Loans will be evidenced by the term of this Agreement and prior to Loan Notes. (ii) If at any time the termination outstanding principal balance of the CommitmentsLoans exceeds the Borrowing Base as a result of a reduction in any Borrowing Base Value, Borrower shall pay submit to Agent, within one not later than thirty (130) Business Day after Borrower's receipt of a demand in writing days following written notice from Agent for to Borrower (a copy of which shall be sent promptly by Agent to each Lender) of the benefit existence of Lenderssuch excess borrowing condition, a written plan pursuant to which Borrower shall cause such principal excess borrowing condition to be eliminated not later than sixty (60) days following such notice, through one or both of the following means: Borrower shall (A) pay to Agent such amounts and/or (B) mortgage to Agent such additional Borrowing Base Property(-ies) as Lenders may accept under Section 3.01 as are necessary so that the sum outstanding principal balance of the aggregate principal amounts of all outstanding Loans (including Swingline Loans) plus the aggregate face amount of all outstanding Letters of Credit at any time does not exceed the Borrowing Base. Failure by Borrower to have complied with the foregoing in a timely manner shall constitute an Event of Default without further notice or grace period hereunder. No further Borrowings, or release of any Borrowing Base Property, shall be permitted so long as such excess borrowing condition shall continue to exist. Nothing in this subparagraph (ii) shall excuse Borrower's compliance with all terms, conditions, covenants and other obligations imposed upon it under the Loan Availability at Documents during the period of such timeexcess borrowing, nor in any manner condition or impair Agent's or Lenders' rights thereunder in respect of any such breach thereof by Borrower.

Loan Availability. (i1) Subject to the terms and conditions set forth in this Agreement, Lenders hereby agree to make Loans (other than Swingline Loans) to Borrower from time to time during the period from the Closing Date to the first Business Day next preceding the Maturity Termination Date; provided, that the sum of the in an aggregate principal amount of all outstanding Loans (including Swingline Loans) plus the aggregate face amount of all outstanding Letters of Credit which shall not exceed Loan Availability; and provided, further, that if a Base Rate Loan is being made pursuant to Section 2.09(e) hereof to reimburse Issuing Lender for a drawn Letter of Credit, to avoid a duplicative reduction in the amount of Loan Availability, the drawn Letter of Credit shall not be considered outstanding. All Loans (other than Swingline Loans) under this Agreement shall be made by Lenders simultaneously and proportionately to their respective Pro Rata Shares, it being understood that no Lender shall be responsible for any failure by any other Lender to perform its obligation to make a Loan hereunder and that the Commitment of any Lender shall not be increased or decreased as a result of the failure by any other Lender to perform its obligation to make a Loan. The Loans (other than Swingline Loans) will be evidenced by the Loan Notes. The Swingline Loans will be evidenced by the Swingline Note. (ii2) Loans (including, without limitation, Swingline Loans) may be voluntarily prepaid pursuant to Section 2.05(a2.6(a) and, subject to the provisions of this Agreement (including, without limitation, the provisions of Section 2.11 hereof)Agreement, any amounts so prepaid may be reborrowed, up to the amount available under Section 2.01(a)(i2.1(a)(1) at the time of such Borrowing, until the Business Day next preceding the Termination Date. The principal balance of the Loans shall be payable in full on the Termination Date. During If during the term of this Agreement and prior to the termination aggregate outstanding principal balance of the CommitmentsLoans ever exceeds Loan Availability (a "Loan Availability Deficiency"), then Borrower shall pay have 30 days after the earlier of (A) demand by Agent; and (B) the date Borrower knew or with reasonable diligence should have known of such deficiency; to Agentsubmit a plan to either (i) reduce the aggregate outstanding principal balance of the Loans to an amount that is less than, within one or equal to, Loan Availability; or (1ii) Business Day after Borrower's receipt increase Loan Availability by mortgaging additional Properties approved by the Requisite Lenders pursuant to Section 3.1 so as to increase the Borrowing Base. Borrower shall then have an additional 60 days following expiration of such 30-day period in which to correct the Loan Availability Deficiency, failing which, an Event of Default shall have occurred without further notice or action on the part of Agent or the Lenders. The existence of a demand in writing from Agent for the benefit of Lenders, such principal amounts as are necessary so that the sum of the aggregate principal amounts of all outstanding Loans (including Swingline Loans) plus the aggregate face amount of all outstanding Letters of Credit at any time does not exceed Loan Availability at such timeDeficiency constitutes an Unmatured Event of Default. Accordingly, no Loans shall be made under this Agreement while a Loan Availability Deficiency exists.

Loan Availability. (iA) Subject to the terms and conditions set forth in this Agreement, the Lenders hereby agree to make Loans (other than Swingline Loans) Advances to Borrower from time to time during the period from the Closing Date to the first Business Day next preceding the Maturity Date; provided, that subject to the following: (1) Subject to the terms of Section 2.7, Section 2.8 and Section 2.9, the sum of the aggregate principal amount of all outstanding Loans Advances (including Swingline Loansoutstanding Swing Line Advances) plus and the aggregate face amount of all Letter of Credit Liabilities shall not at any time exceed Three Hundred Ten Million Dollars ($310,000,000); (2) the sum of the aggregate principal amount of all outstanding Letters of Credit shall not exceed Loan Availability; Advances (including outstanding Swing Line Advances) and provided, further, that if a Base Rate Loan is being made pursuant to Section 2.09(e) hereof to reimburse Issuing Lender for a drawn Letter of Credit, to avoid a duplicative reduction in the aggregate amount of Loan Availability, the drawn all Letter of Credit Liabilities shall not be considered outstanding. All Loans at any time exceed the lesser of (a) the Commitment or (b) the amount which, when combined with all components of the unsecured Total Liabilities of the REIT and the Consolidated Entities (other than Swingline Loansoutstanding Advances and all Letter of Credit Liabilities) as of the date of determination, is equal to 59.8802% of the Unencumbered Asset Value of the Unencumbered Pool as of such date; and (3) if any Swing Line Advances are outstanding as of the date of any such Advance, (a) such Advance shall be in an amount equal to at least the aggregate outstanding principal of all outstanding Swing Line Advances, and (b) the proceeds thereof shall be applied first to the payment of such outstanding Swing Line Advances. All Advances under this Agreement shall be made by the Lenders simultaneously and proportionately to their respective Pro Rata Shares, it being understood . Borrower acknowledges and agrees that no neither the Administrative Agent nor any Lender shall be responsible for any failure by any other Lender to perform its obligation to make a Loan an Advance hereunder and that the Pro Rata Share of the Commitment of any Lender shall not be increased or decreased as a result of the failure by any other Lender to perform its obligation to make a Loanan Advance. The Loans (other than Swingline Loans) will be evidenced by the Loan Notes. The Swingline Loans will be evidenced by the Swingline Note. (ii) Loans (including, without limitation, Swingline Loans) Advances may be voluntarily prepaid pursuant to Section 2.05(a2.6(a) and, subject to the provisions of this Agreement (including, without limitation, the provisions of Section 2.11 hereof)Agreement, any amounts so prepaid may be reborrowed, up to the amount available reborrowed under this Section 2.01(a)(i) at the time of such Borrowing, until the Business Day next preceding the Termination Date2.1(a)(i). Interest shall accrue and be payable on outstanding Advances as provided in Section 2.4. The principal balance of the Loans Advances shall be payable in full on the Termination Maturity Date. During The obligation of Borrower to repay Advances will be evidenced by the term Notes, and the obligation of this Agreement Borrower to repay Swing Line Advances shall be further evidenced by the Swing Line Notes and prior the obligation of Borrower to repay Bid Advances shall be further evidenced by the termination of the Commitments, Borrower shall pay to Agent, within one (1) Business Day after Borrower's receipt of a demand in writing from Agent for the benefit of Lenders, such principal amounts as are necessary so that the sum of the aggregate principal amounts of all outstanding Loans (including Swingline Loans) plus the aggregate face amount of all outstanding Letters of Credit at any time does not exceed Loan Availability at such timeBid Advance Notes.

Loan Availability. (ia) Subject to the terms and conditions set forth in this Agreement, Lenders hereby agree to make Loans (other than Swingline Loans) to Borrower from time to time during the period from the Closing Date to the first Business Day next preceding the Maturity Termination Date, in an aggregate outstanding principal amount (including outstanding Swing Line Borrowing) which shall not exceed Loan Availability at any time; providedprovided that if any Swing Line Borrowings are outstanding on the Funding Date of any Loan other than a Swing Line Borrowing, that the sum of (i) such Loan shall be in an amount equal to at least the aggregate principal amount of all outstanding Swing Line Borrowings, and (ii) the proceeds thereof shall be applied first to the payment of such outstanding Swing Line Borrowings. Except as provided in Section 2.1.1(b) with respect to Swing Line Borrowings, all Loans (including Swingline Loans) plus the aggregate face amount of all outstanding Letters of Credit shall not exceed Loan Availability; and provided, further, that if a Base Rate Loan is being made pursuant to Section 2.09(e) hereof to reimburse Issuing Lender for a drawn Letter of Credit, to avoid a duplicative reduction in the amount of Loan Availability, the drawn Letter of Credit shall not be considered outstanding. All Loans (other than Swingline Loans) under this Agreement shall be made by Lenders simultaneously and proportionately to their respective Pro Rata Shares, it being understood that no Lender shall be responsible for any failure by any other Lender to perform its obligation to make a Loan hereunder and that the Commitment of any Lender shall not be increased or decreased as a result of the failure by any other Lender to perform its obligation to make a Loan. The Loans (other than Swingline Loans) will be evidenced by the Loan Notes. The Swingline Loans will be evidenced by the Swingline Note. (ii) Loans (including, without limitation, Swingline Loans) may be voluntarily prepaid pursuant to Section 2.05(a) 2.6.1 and, subject to the provisions of this Agreement (including, without limitation, the provisions of Section 2.11 hereof)Agreement, any amounts so prepaid may be reborrowed, up to the amount available under Section 2.01(a)(i) at the time of such Borrowing, until the Business Day next preceding the Termination Date. The principal balance of the Loans shall be payable in full on the Termination Date. During the term of this Agreement and prior to the termination of the Commitments, Borrower shall pay to Agent, within one (1) Business Day after Borrower's receipt of a demand in writing from Agent for the benefit of Lenders, such principal amounts as are necessary so that the sum of the aggregate principal amounts of all outstanding Loans (including Swingline Loans) plus the aggregate face amount of all outstanding Letters of Credit at any time does not exceed Loan Availability at such time.be

Loan Availability. (iA) Subject to the terms and conditions set forth in this Agreement, the Lenders hereby agree to make Loans (other than Swingline Loans) Advances to Borrower from time to time during the period from the Closing Date to the first Business Day next preceding the Maturity Date; provided, that subject to the sum following: (1) Subject to the terms of Section 2.7, Section 2.8 and Section 2.9, the aggregate principal amount of all outstanding Loans Advances (including Swingline Loansoutstanding Swing Line Advances) plus shall not at any time exceed Three Hundred Ten Million Dollars ($310,000,000); (2) the aggregate face principal amount of all outstanding Letters of Credit Advances shall not at any time exceed Loan Availability; and provided, further, that if a Base Rate Loan is being made pursuant to Section 2.09(ethe lesser of (a) hereof to reimburse Issuing Lender for a drawn Letter of Credit, to avoid a duplicative reduction in the Commitment or (b) the amount which, when combined with all components of Loan Availabilitythe unsecured Total Liabilities of the REIT and the Consolidated Entities other than outstanding Advances as of the date of determination, is equal to 57.1429% of the drawn Letter aggregate Unencumbered Asset Value of Credit the Unencumbered Pool as of such date; and (3) if any Swing Line Advances are outstanding as of the date of any such Advance, (a) such Advance shall not be considered outstandingin an amount equal to at least the aggregate outstanding principal of all outstanding Swing Line Advances, and (b) the proceeds thereof shall be applied first to the payment of such outstanding Swing Line Advances. All Loans (other than Swingline Loans) Advances under this Agreement shall be made by the Lenders simultaneously and proportionately to their respective Pro Rata Shares, it being understood . Borrower acknowledges and agrees that no neither the Administrative Agent nor any Lender shall be responsible for any failure by any other Lender to perform its obligation to make a Loan an Advance hereunder and that the Pro Rata Share of the Commitment of any Lender shall not be increased or decreased as a result of the failure by any other Lender to perform its obligation to make a Loanan Advance. The Loans (other than Swingline Loans) will be evidenced by the Loan Notes. The Swingline Loans will be evidenced by the Swingline Note. (ii) Loans (including, without limitation, Swingline Loans) Advances may be voluntarily prepaid pursuant to Section 2.05(a2.6(a) and, subject to the provisions of this Agreement (including, without limitation, the provisions of Section 2.11 hereof)Agreement, any amounts so prepaid may be reborrowed, up to the amount available reborrowed under this Section 2.01(a)(i) at the time of such Borrowing, until the Business Day next preceding the Termination Date2.1(a)(i). Interest shall accrue and be payable on outstanding Advances as provided in Section 2.4. The principal balance of the Loans Advances shall be payable in full on the Termination Maturity Date. During The obligation of Borrower to repay Advances will be evidenced by the term of this Agreement and prior to the termination of the Commitments, Borrower shall pay to Agent, within one (1) Business Day after Borrower's receipt of a demand in writing from Agent for the benefit of Lenders, such principal amounts as are necessary so that the sum of the aggregate principal amounts of all outstanding Loans (including Swingline Loans) plus the aggregate face amount of all outstanding Letters of Credit at any time does not exceed Loan Availability at such timeNotes.