Common use of Making of Revolving Credit Loans Clause in Contracts

Making of Revolving Credit Loans. Subject to the terms and conditions set forth in this Agreement, including Section 2.16., (i) each Dollar Tranche Revolving Credit Lender (severally and not jointly) agrees to make Dollar Tranche Revolving Credit Loans to any of the Borrowers in Dollars during the period from and including the Revolving Credit Effective Date to but excluding the Revolving Credit Maturity Date, in an aggregate principal amount at any one time outstanding up to, but not exceeding, such Lender’s Dollar Tranche Revolving Credit Commitment and (ii) each Multicurrency Tranche Revolving Credit Lender (severally and not jointly) agrees to make Multicurrency Tranche Revolving Credit Loans to any of the Borrowers in Agreed Currencies during the period from and including the Revolving Credit Effective Date to but excluding the Revolving Credit Maturity Date, in an aggregate principal amount at any one time outstanding up to, but not exceeding, such Lender’s Multicurrency Tranche Revolving Credit Commitment. Each borrowing of Revolving Credit Loans hereunder that are to be (w) Base Rate Loans (which shall only be available in Dollars) shall be in an aggregate minimum amount of $250,000 and integral multiples of $50,000 in excess thereof, (x) LIBOR Loans (which shall be available in LIBOR Quoted Currencies) shall be in an aggregate minimum amount of $2,000,000 (or, if such Loan is denominated in a Foreign Currency, 2,000,000 units of such currency) and integral multiples of $500,000 (or, if such Loan is denominated in a Foreign Currency, 500,000 units of such currency) in excess thereof, (y) CDOR Loans (which shall only be available in Canadian Dollars) shall be in an aggregate minimum amount of Cdn. $2,000,000 and integral multiples of Cdn. $500,000 in excess thereof; and (z) AUD Rate Loans (which shall only be available in Australian Dollars) shall be in an aggregate minimum amount of Aus. $2,000,000 and integral multiples of Aus. $500,000 in excess thereof. Notwithstanding the immediately preceding sentence but subject to Section 2.16., a borrowing of any Tranche Revolving Credit Loans may be in the aggregate amount of the unused Revolving Credit Commitments for such Tranche. Within the foregoing limits and subject to the terms and conditions of this Agreement, any of the Borrowers may borrow, repay and reborrow Revolving Credit Loans.

Appears in 2 contracts

Samples: Credit Agreement (Park Hotels & Resorts Inc.), Credit Agreement (Park Hotels & Resorts Inc.)

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Making of Revolving Credit Loans. Subject to the terms and conditions set forth in this Agreement, including Section 2.16., (i) each Dollar Tranche Revolving Credit Lender (severally and not jointly) agrees to make Dollar Tranche Revolving Credit Loans to any of the Borrowers in Dollars during the period from and including the Revolving Credit Effective Date to but excluding the Revolving Credit Maturity DateDate applicable to such Lender, in an aggregate principal amount at any one time outstanding up to, but not exceeding, such Lender’s Dollar Tranche Revolving Credit Commitment and (ii) each Multicurrency Tranche Revolving Credit Lender (severally and not jointly) agrees to make Multicurrency Tranche Revolving Credit Loans to any of the Borrowers in Agreed Currencies during the period from and including the Revolving Credit Effective Date to but excluding the Revolving Credit Maturity DateDate applicable to such Lender, in an aggregate principal amount at any one time outstanding up to, but not exceeding, such Lender’s Multicurrency Tranche Revolving Credit Commitment. Each borrowing of Revolving Credit Loans hereunder that are to be (w) Base Rate Loans (which shall only be available in Dollars) shall be in an aggregate minimum amount of $250,000 and integral multiples of $50,000 in excess thereof, (x) LIBOR Loans (which shall be available in LIBOR Quoted Currencies) shall be in an aggregate minimum amount of $2,000,000 (or, if such Loan is denominated in a Foreign Currency, 2,000,000 units of such currency) and integral multiples of $500,000 (or, if such Loan is denominated in a Foreign Currency, 500,000 units of such currency) in excess thereof, (y) CDOR Loans (which shall only be available in Canadian Dollars) shall be in an aggregate minimum amount of Cdn. $2,000,000 and integral multiples of Cdn. $500,000 in excess thereof; and (z) AUD Rate Loans (which shall only be available in Australian Dollars) shall be in an aggregate minimum amount of Aus. $2,000,000 and integral multiples of Aus. $500,000 in excess thereof. Notwithstanding the immediately preceding sentence but subject to Section 2.16., a borrowing of any Tranche Revolving Credit Loans may be in the aggregate amount of the unused Revolving Credit Commitments for such Tranche. Within the foregoing limits and subject to the terms and conditions of this Agreement, any of the Borrowers may borrow, repay and reborrow Revolving Credit Loans.

Appears in 1 contract

Samples: Credit Agreement (Park Hotels & Resorts Inc.)

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Making of Revolving Credit Loans. Subject to the terms and conditions set forth in this Agreement, including Section 2.16., (i) each Dollar Tranche Revolving Credit Lender (severally and not jointly) agrees to make Dollar Tranche Revolving Credit Loans to any of the Borrowers in Dollars during the period from and including the Revolving Credit Effective Date to but excluding the Revolving Credit Maturity Date, in an aggregate principal amount at any one time outstanding up to, but not exceeding, such Lender’s Dollar Tranche Revolving Credit Commitment and (ii) each Multicurrency Tranche Revolving Credit Lender (severally and not jointly) agrees to make Multicurrency Tranche Revolving Credit Loans to any of the Borrowers in Agreed Currencies during the period from and including the Revolving Credit Effective Date to but excluding the Revolving Credit Maturity Date, in an aggregate principal amount at any one time outstanding up to, but not exceeding, such Lender’s Multicurrency Tranche Revolving Credit Commitment. Each borrowing of Revolving Credit Loans hereunder that are to be (w) Base Rate Loans (which shall only be available in Dollars) shall be in an aggregate minimum amount of $250,000 and integral multiples of $50,000 in excess thereof, (x) LIBOR Loans (which shall be available in LIBOR Quoted Currencies) shall be in an aggregate minimum amount of $2,000,000 (or, if such Loan is denominated in a Foreign Currency, 2,000,000 units of such currency) and integral multiples of $500,000 (or, if such Loan is denominated in a Foreign Currency, 500,000 units of such currency) in excess thereof, (y) CDOR Loans (which shall only be available in Canadian Dollars) shall be in an aggregate minimum amount of Cdn. $2,000,000 and integral multiples of Cdn. $500,000 in excess thereof; and (z) AUD Rate Loans (which shall only be available in Australian Dollars) shall be in an aggregate minimum amount of Aus. $2,000,000 and integral multiples of Aus. $500,000 in excess thereof. Notwithstanding the immediately preceding sentence but subject to Section 2.16., a borrowing of any Tranche Revolving Credit Loans may be in the aggregate amount of the unused Revolving Credit Commitments for such Tranche. Within the foregoing limits and subject to the terms and conditions of this Agreement, any of the Borrowers may borrow, repay and reborrow Revolving Credit Loans.

Appears in 1 contract

Samples: Credit Agreement (Park Hotels & Resorts Inc.)

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