Common use of Revolving Advance Clause in Contracts

Revolving Advance. Each Revolving Lender severally agrees, on the terms and conditions hereinafter set forth, to make advances (each a "Revolving Advance") to any Borrower from time to time on any Business Day during the period from the Closing Date until the Final Maturity Date in an amount for each such Revolving Advance not to exceed such Revolving Lender's Unused Commitment at such time; provided that (i) the amount of each Revolving Borrowing made to any Borrower shall not exceed the Borrowing Limit applicable to such Borrower at such time, (ii) no Revolving Borrowing shall be made to AESC unless the aggregate Unused Commitments shall be equal to or greater than $100,000,000 after giving pro forma effect to such Revolving Borrowing, and (iii) after giving effect to any Revolving Borrowing, (A) the Total Revolving Outstandings shall not exceed the Revolving Facility, and (B) the aggregate Outstanding Amount of the Revolving Advances of any Revolving Lender plus such Revolving Lender's Pro Rata Share of the Outstanding Amount of all L/C Obligations shall not exceed such Revolving Lender's Revolving Commitment. Each Revolving Borrowing shall be in an aggregate amount of $2,000,000 or an integral multiple of $1,000,000 in excess thereof (other than a Revolving Borrowing the proceeds of which shall be used solely to repay or prepay in full any L/C Borrowing) and shall consist of Revolving Advances of the same Type made simultaneously by the Revolving Lenders ratably according to their Revolving Commitments. Within the limits of each Revolving Lender's Unused Commitment in effect from time to time and the Borrowing Limits applicable to each Borrower, either Borrower may borrow under this Section 2.01(a), prepay pursuant to Section 2.06 and reborrow under this Section 2.01(a).

Appears in 2 contracts

Samples: Credit Agreement (Allegheny Energy, Inc), Credit Agreement (Allegheny Energy, Inc)

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Revolving Advance. Each Revolving Lender severally agrees, on the terms and conditions hereinafter set forth, to make advances (each a "Revolving Advance") in Dollars to any the Borrower from time to time on any Business Day during the period from the Closing Date until the Final Maturity Date in an amount for each such Revolving Advance not to exceed such Revolving Lender's ’s Unused Commitment at such time; provided that (i) the amount of each Revolving Borrowing made to any Borrower shall not exceed the Borrowing Limit applicable to such Borrower at such time, (ii) no Revolving Borrowing shall be made to AESC unless the aggregate Unused Commitments shall be equal to or greater than $100,000,000 after giving pro forma effect to such Revolving Borrowing, and (iii) after giving effect to any Revolving Borrowing, (Ai) the Total Revolving Outstandings shall not exceed the Revolving Facility, and (Bii) the aggregate Outstanding Amount of the Revolving Advances of any Revolving Lender plus such Revolving Lender's ’s Pro Rata Share of the Outstanding Amount of all L/C Obligations plus such Revolving Lender’s Pro Rata Share of the Outstanding Amount of all Swing Line Advances made by the Swing Line Bank shall not exceed such Revolving Lender's ’s Revolving Commitment. Each Revolving Borrowing shall be in an aggregate amount of $2,000,000 or an integral multiple of $1,000,000 in excess thereof (other than a Revolving Borrowing the proceeds of which shall be used solely to repay or prepay in full any Swing Line Advances made by the Swing Line Bank or any L/C Borrowing) and shall consist of Revolving Advances of the same Type made simultaneously by the Revolving Lenders ratably according to their Revolving Commitments. Within the limits of each Revolving Lender's ’s Unused Commitment in effect from time to time and time, the Borrowing Limits applicable to each Borrower, either Borrower may borrow under this Section 2.01(a), prepay pursuant to Section 2.06 2.06(a) and reborrow under this Section 2.01(a).

Appears in 1 contract

Samples: Assignment and Assumption Agreement (Allegheny Energy, Inc)

Revolving Advance. Each Revolving Lender severally agrees, on the terms and conditions hereinafter set forth, to make advances (each a "Revolving Advance") to any the Borrower from time to time on any Business Day during the period from the Closing Date until the Final Maturity Date in an amount for each such Revolving Advance not to exceed such Revolving Lender's Unused Commitment at such time; provided that (i) the amount of each Revolving Borrowing made to any Borrower shall not exceed the Borrowing Limit applicable to such Borrower at such time, (ii) no Revolving Borrowing shall be made to AESC unless the aggregate Unused Commitments shall be equal to or greater than $100,000,000 after giving pro forma effect to such Revolving Borrowing, and (iii) after giving effect to any Revolving Borrowing, (Ai) the Total Revolving Outstandings shall not exceed the Revolving Facility, and (Bii) the aggregate Outstanding Amount of the Revolving Advances of any Revolving Lender plus such Revolving Lender's Pro Rata Share of the Outstanding Amount of all L/C Obligations plus such Revolving Lender's Pro Rata Share of the Outstanding Amount of all Swing Line Advances made by the Swing Line Bank shall not exceed such Revolving Lender's Revolving Commitment. Each Revolving Borrowing shall be in an aggregate amount of $2,000,000 or an integral multiple of $1,000,000 in excess thereof (other than a Revolving Borrowing the proceeds of which shall be used solely to repay or prepay in full any Swing Line Advances made by the Swing Line Bank or any L/C Borrowing) and shall consist of Revolving Advances of the same Type made simultaneously by the Revolving Lenders ratably according to their Revolving Commitments. Within the limits of each Revolving Lender's Unused Commitment in effect from time to time and time, the Borrowing Limits applicable to each Borrower, either Borrower may borrow under this Section 2.01(a), prepay pursuant to Section 2.06 2.06(a) and reborrow under this Section 2.01(a).

Appears in 1 contract

Samples: Credit Agreement (Allegheny Energy, Inc)

Revolving Advance. Each Revolving Lender severally agrees, on the terms and conditions hereinafter set forth, to make advances (each a "Revolving Advance") to any Borrower from time to time on any Business Day during the period from the Closing Date until the Final Maturity Date in an amount for each such Revolving Advance not to exceed such Revolving Lender's ’s Unused Commitment at such time; provided that (i) the amount of each Revolving Borrowing made to any Borrower shall not exceed the Borrowing Limit applicable to such Borrower at such time, (ii) no Revolving Borrowing shall be made to AESC unless the aggregate Unused Commitments shall be equal to or greater than $100,000,000 after giving pro forma effect to such Revolving Borrowing, and (iii) after giving effect to any Revolving Borrowing, (A) the Total Revolving Outstandings shall not exceed the Revolving Facility, and (B) the aggregate Outstanding Amount of the Revolving Advances of any Revolving Lender plus such Revolving Lender's ’s Pro Rata Share of the Outstanding Amount of all L/C Obligations shall not exceed such Revolving Lender's ’s Revolving Commitment. Each Revolving Borrowing shall be in an aggregate amount of $2,000,000 or an integral multiple of $1,000,000 in excess thereof (other than a Revolving Borrowing the proceeds of which shall be used solely to repay or prepay in full any L/C Borrowing) and shall consist of Revolving Advances of the same Type made simultaneously by the Revolving Lenders ratably according to their Revolving Commitments. Within the limits of each Revolving Lender's ’s Unused Commitment in effect from time to time and the Borrowing Limits applicable to each Borrower, either Borrower may borrow under this Section 2.01(a), prepay pursuant to Section 2.06 and reborrow under this Section 2.01(a).

Appears in 1 contract

Samples: Assignment and Assumption Agreement (Allegheny Energy, Inc)

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Revolving Advance. Each Revolving Lender severally agrees, on the terms and conditions hereinafter set forth, to make advances (each a "Revolving Advance") to any the Borrower from time to time on any Business Day during the period from the Closing Date date hereof until the Final Maturity Date in an amount for each such Revolving Advance not to exceed such Revolving Lender's ’s Unused Commitment at such time; provided that (i) the amount of each Revolving Borrowing made to any Borrower shall not exceed the Borrowing Limit applicable to such Borrower at such time, (ii) no Revolving Borrowing shall be made to AESC unless the aggregate Unused Commitments shall be equal to or greater than $100,000,000 after giving pro forma effect to such Revolving Borrowing, and (iii) after giving effect to any Revolving Borrowing, (Ai) the Total Revolving Outstandings shall not exceed the sum of the Revolving Facility, and (Bii) the aggregate Outstanding Amount of the Revolving Advances of any Revolving Lender plus such Revolving Lender's ’s Pro Rata Share of the Outstanding Amount of all L/C Obligations shall not exceed such Revolving Lender's ’s Revolving Commitment. Each Revolving Borrowing shall be in an aggregate amount of $2,000,000 or an integral multiple of $1,000,000 in excess thereof (other than a Revolving Borrowing the proceeds of which shall be used solely to repay or prepay in full any L/C Borrowing) and shall consist of Revolving Advances of the same Type made simultaneously by the Revolving Lenders ratably according to their Revolving Commitments. Within the limits of each Revolving Lender's ’s Unused Commitment in effect from time to time and time, the Borrowing Limits applicable to each Borrower, either Borrower may borrow under this Section 2.01(a), prepay pursuant to Section 2.06 and reborrow under this Section 2.01(a).

Appears in 1 contract

Samples: Credit Agreement (Allegheny Energy Inc)

Revolving Advance. Each Revolving Lender severally agrees, on the terms and conditions hereinafter set forth, to make advances (each a "Revolving Advance") to any the Borrower from time to time on any Business Day during the period from the Closing Date until the Final Maturity Date in an amount for each such Revolving Advance not to exceed such Revolving Lender's ’s Unused Commitment at such time; provided that (i) the amount of each Revolving Borrowing made to any Borrower shall not exceed the Borrowing Limit applicable to such Borrower at such time, (ii) no Revolving Borrowing shall be made to AESC unless the aggregate Unused Commitments shall be equal to or greater than $100,000,000 after giving pro forma effect to such Revolving Borrowing, and (iii) after giving effect to any Revolving Borrowing, (Ai) the Total Revolving Outstandings shall not exceed the Revolving Facility, and (Bii) the aggregate Outstanding Amount of the Revolving Advances of any Revolving Lender plus such Revolving Lender's ’s Pro Rata Share of the Outstanding Amount of all L/C Obligations plus such Revolving Lender’s Pro Rata Share of the Outstanding Amount of all Swing Line Advances made by the Swing Line Bank shall not exceed such Revolving Lender's ’s Revolving Commitment. Each Revolving Borrowing shall be in an aggregate amount of $2,000,000 or an integral multiple of $1,000,000 in excess thereof (other than a Revolving Borrowing the proceeds of which shall be used solely to repay or prepay in full any Swing Line Advances made by the Swing Line Bank or any L/C Borrowing) and shall consist of Revolving Advances of the same Type made simultaneously by the Revolving Lenders ratably according to their Revolving Commitments. Within the limits of each Revolving Lender's ’s Unused Commitment in effect from time to time and time, the Borrowing Limits applicable to each Borrower, either Borrower may borrow under this Section 2.01(a), prepay pursuant to Section 2.06 2.06(a) and reborrow under this Section 2.01(a).

Appears in 1 contract

Samples: Assignment and Assumption Agreement (Allegheny Energy, Inc)

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