Revolving Commitment. Subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth herein, each Lender severally agrees to make available to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANS") from time to time from the Closing Date until the Maturity Date, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDED, HOWEVER, that the sum of the aggregate outstanding principal amount of Revolving Loans shall not exceed ONE HUNDRED MILLION DOLLARS ($100,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.4, the "REVOLVING COMMITTED AMOUNT"); PROVIDED, FURTHER, (A) with regard to each Lender individually, such Lender's outstanding Revolving Loans shall not exceed such Lender's Revolving Commitment Percentage of the Revolving Committed Amount, and (B) the sum of the aggregate outstanding principal amount of Revolving Loans PLUS LOC Obligations PLUS Swingline Loans shall not exceed the Revolving Committed Amount. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Base Rate Loans or Eurodollar Loans, or a combination thereof, as the Borrower may request; PROVIDED, HOWEVER, that no more than 15 Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof.
Appears in 3 contracts
Sources: Credit Agreement (Mg Waldbaum Co), Credit Agreement (Mg Waldbaum Co), Credit Agreement (Michael Foods Inc /Mn)
Revolving Commitment. Subject During the Commitment Period, subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth hereinhereof, each Revolving Lender severally severally, but not jointly, agrees to make available revolving credit loans in Dollars (“Revolving Loans”) to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANS") from time to time from the Closing Date until the Maturity Date, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDED, HOWEVER, that the sum of the in an aggregate outstanding principal amount of Revolving Loans shall not exceed ONE up to FORTY-FOUR MILLION SEVEN HUNDRED MILLION FIFTY THOUSAND DOLLARS ($100,000,00044,750,000) (as increased from time to time as provided in Section 2.1(f) and as such aggregate maximum amount may be reduced from time to time as provided in Section 3.42.6, the "REVOLVING COMMITTED AMOUNT")“Revolving Committed Amount”) for the purposes hereinafter set forth; PROVIDEDprovided, FURTHERhowever, that (Ai) with regard to each Revolving Lender individually, the sum of such Revolving Lender's outstanding Revolving Loans shall not exceed such Lender's ’s Revolving Commitment Percentage of the aggregate principal amount of outstanding Revolving Committed Amount, Loans plus such Revolving Lender’s Revolving Commitment Percentage of outstanding Swingline Loans plus such Revolving Lender’s Revolving Commitment Percentage of outstanding LOC Obligations shall not exceed such Revolving Lender’s Revolving Commitment and (Bii) with regard to the Revolving Lenders collectively, the sum of the aggregate outstanding principal amount of outstanding Revolving Loans PLUS plus outstanding Swingline Loans plus outstanding LOC Obligations PLUS Swingline Loans shall not exceed the Revolving Committed AmountAmount then in effect. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Alternate Base Rate Loans or Eurodollar LIBOR Rate Loans, or a combination thereof, as the Borrower may request; PROVIDED, HOWEVER, that no more than 15 Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof; provided, however, the Revolving Loans made on the Closing Date or any of the three (3) Business Days following the Closing Date, may only consist of Alternate Base Rate Loans unless the Borrower delivers a funding indemnity letter, substantially in the form of Exhibit 2.1(a), reasonably acceptable to the Administrative Agent not less than three (3) Business Days prior to the Closing Date. LIBOR Rate Loans shall be made by each Revolving Lender at its LIBOR Lending Office and Alternate Base Rate Loans at its Domestic Lending Office.
Appears in 3 contracts
Sources: Credit Agreement (Osi Systems Inc), Credit Agreement (Osi Systems Inc), Credit Agreement (Osi Systems Inc)
Revolving Commitment. Subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth herein, each Revolving Lender severally agrees to make available to the Borrower such Revolving Lender's Revolving ’s Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANS"“Revolving Loans”) from time to time from the Closing Date until the Maturity Date, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDEDprovided, HOWEVERhowever, that the sum of the aggregate outstanding principal amount of Revolving Loans shall not exceed ONE FOUR HUNDRED MILLION DOLLARS ($100,000,000400,000,000) (as such aggregate maximum amount may be increased in accordance with Section 2.7 or reduced from time to time as provided in Section 3.4, the "REVOLVING COMMITTED AMOUNT"“Revolving Committed Amount”); PROVIDEDprovided, FURTHERfurther, (A) with regard to each Revolving Lender individually, such Revolving Lender's outstanding ’s Revolving Loans Credit Exposure shall not exceed such Revolving Lender's ’s Revolving Commitment Percentage of the Revolving Committed AmountCommitment, and (B) the sum of the aggregate outstanding principal amount of Revolving Loans PLUS plus LOC Obligations PLUS plus Swingline Loans shall not exceed the Revolving Committed Amount. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Base Rate Loans or Eurodollar Loans, or a combination thereof, as the Borrower may request; PROVIDEDprovided, HOWEVERhowever, that no more than 15 six (6) Eurodollar Loans which are Revolving Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof.
Appears in 3 contracts
Sources: Credit Agreement (Amn Healthcare Services Inc), Credit Agreement (Amn Healthcare Services Inc), Credit Agreement (Amn Healthcare Services Inc)
Revolving Commitment. Subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth herein, each Revolving Lender severally agrees to make available to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by (“Revolving Loans”) to the Borrower in Dollars ("REVOLVING LOANS") Borrowers from time to time from the Closing Effective Date until the Maturity Termination Date, or such earlier date as the Revolving Commitments shall have been terminated as provided hereinherein for the purposes hereinafter set forth (provided, that, all Revolving Loans made prior to the Effective Time (as defined in the Merger Agreement) shall be made to Speedway Funding); PROVIDEDprovided, HOWEVERhowever, that (x) the sum of the aggregate outstanding principal amount of outstanding Revolving Loans at any time shall not exceed the Revolving Committed Amount and (y) the sum of the aggregate principal amount of outstanding Revolving Loans on the Effective Date shall not exceed $20,000,000 (which outstanding amount shall result only from borrowings of Revolving Loans the proceeds of which are used to finance the Offer (as defined in the Merger Agreement) and for fees and expenses related to the Merger); provided, further, (i) with regard to each Revolving Lender individually, such Lender’s share of outstanding Revolving Obligations shall not exceed such Lender’s Revolving Commitment Percentage of the Revolving Committed Amount and (ii) with regard to the Revolving Lenders collectively, the aggregate principal amount of outstanding Revolving Obligations shall not exceed ONE HUNDRED MILLION DOLLARS ($100,000,000) (as such aggregate maximum amount may be reduced from time to time be increased pursuant to Section 2.6 or reduced as provided in Section 3.4, the "REVOLVING COMMITTED AMOUNT"3.3); PROVIDED, FURTHER, (A) with regard to each Lender individually, such Lender's outstanding Revolving Loans shall not exceed such Lender's Revolving Commitment Percentage of the Revolving Committed Amount, and (B) the sum of the aggregate outstanding principal amount of Revolving Loans PLUS LOC Obligations PLUS Swingline Loans shall not exceed the Revolving Committed Amount. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Base Rate Loans or Eurodollar Loans, or a combination thereof, as the Borrower Borrowers may requestrequest and may be repaid and reborrowed in accordance with the provisions hereof; PROVIDEDprovided, HOWEVERhowever, that no more than 15 six Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for with respect to Revolving Loans. For purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same datedate and have the same duration, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof.
Appears in 3 contracts
Sources: Credit Agreement (Speedway Motorsports LLC), Credit Agreement (Speedway Motorsports LLC), Credit Agreement (Speedway Motorsports Inc)
Revolving Commitment. Subject During the Commitment Period, subject to the terms and conditions hereof and in reliance upon hereof, the representations and warranties set forth hereinRevolving Lenders severally, each Lender severally agrees but not jointly, agree to make available revolving credit loans in Dollars (“Revolving Loans”) to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANS") from time to time from the Closing Date until the Maturity Date, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDED, HOWEVER, that the sum of the in an aggregate outstanding principal amount of Revolving Loans shall not exceed ONE HUNDRED MILLION DOLLARS up to $800,000,000 ($100,000,000as increased from time to time as provided in Section 2.20(a) (and as such aggregate maximum amount may be reduced from time to time as provided in Section 3.42.5, the "REVOLVING COMMITTED AMOUNT"“Revolving Committed Amount”) for the purposes hereinafter set forth (such facility, the “Revolving Facility”); PROVIDEDprovided, FURTHERhowever, that (Ai) with regard to each Revolving Lender individually, the sum of such Revolving Lender's outstanding Revolving Loans shall not exceed such Lender's ’s Revolving Commitment Percentage of the aggregate principal amount of outstanding Revolving Committed Amount, Loans plus such Revolving Lender’s Revolving Commitment Percentage of outstanding Swingline Loans plus such Revolving Lender’s Revolving Commitment Percentage of outstanding LOC Obligations shall not exceed such Revolving Lender’s Revolving Commitment and (Bii) with regard to the Revolving Lenders collectively, the sum of the aggregate outstanding principal amount of outstanding Revolving Loans PLUS plus outstanding Swingline Loans plus outstanding LOC Obligations PLUS Swingline Loans shall not exceed the Revolving Committed AmountAmount then in effect. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Alternate Base Rate Loans or Eurodollar SOFR Loans, or a combination thereof, as the Borrower may request; PROVIDED, HOWEVER, that no more than 15 Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof. SOFR Loans and Alternate Base Rate Loans shall be made by each Revolving Lender at its Domestic Lending Office.
Appears in 3 contracts
Sources: Second Amendment to Second Amended and Restated Credit Agreement (ARKO Corp.), Second Amendment to Second Amended and Restated Credit Agreement (ARKO Petroleum Corp.), Credit Agreement (ARKO Corp.)
Revolving Commitment. Subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth herein, each Lender severally agrees to make available to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANSRevolving Loans") from time to time from the Closing Date until the Maturity Date, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDEDprovided, HOWEVERhowever, that (i) with regard to the sum Lenders collectively, the amount of the aggregate Revolving Obligations outstanding principal amount of Revolving Loans shall not exceed ONE HUNDRED MILLION DOLLARS ($100,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.4the Revolving Committed Amount; provided, the "REVOLVING COMMITTED AMOUNT"); PROVIDED, FURTHERfurther, (Aii) with regard to each Lender individually, such Lender's outstanding Revolving Commitment Percentage of the sum of the Revolving Loans plus LOC Obligations outstanding plus Swingline Loans outstanding shall not exceed such Lender's Revolving Commitment Percentage of the Revolving Committed Amount, and (B) the sum of the aggregate outstanding principal amount of Revolving Loans PLUS LOC Obligations PLUS Swingline Loans shall not exceed the Revolving Committed Amount. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Base Rate Loans or Eurodollar Loans, or a combination thereof, as the Borrower may request; PROVIDEDprovided, HOWEVERhowever, that no more than 15 five Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof.
Appears in 2 contracts
Sources: Credit Agreement (Tractor Supply Co /De/), Credit Agreement (Tractor Supply Co /De/)
Revolving Commitment. Subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth herein, each Lender severally agrees to make available to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANSRevolving Loans") from time to time from the Closing Date until the Maturity Date, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDEDprovided, HOWEVERhowever, that (i) the sum of the aggregate outstanding principal amount of Revolving Loans shall not exceed ONE HUNDRED FIFTY MILLION DOLLARS ($100,000,00050,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.4, the "REVOLVING COMMITTED AMOUNTRevolving Committed Amount"); PROVIDED, FURTHER, (Aii) with regard to each Lender individually, the sum of such Lender's outstanding Revolving Loans plus such Lender's Participation Interests in Letters of Credit and LOC Obligations shall not exceed such Lender's Revolving Commitment Percentage of the Revolving Committed Amount, Amount and (Biii) the sum of the aggregate outstanding principal amount of Revolving Loans PLUS plus LOC Obligations PLUS Swingline Loans shall not exceed the Revolving Committed Amount. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Base Rate Loans or Eurodollar Loans, or a combination thereof, as the Borrower may request; PROVIDEDprovided, HOWEVERhowever, that no more than 15 ten (10) Eurodollar Loans which are Revolving Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof.
Appears in 2 contracts
Sources: Credit Agreement (Jw Childs Equity Partners Ii Lp), Credit Agreement (Signal Medical Services)
Revolving Commitment. Subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth herein, each Revolving Lender severally agrees to make available to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by (“Revolving Loans”) to the Borrower in Dollars ("REVOLVING LOANS") Borrowers from time to time from the Closing Date until the Maturity Termination Date, or such earlier date as the Revolving Commitments shall have been terminated as provided hereinherein for the purposes hereinafter set forth; PROVIDEDprovided, HOWEVERhowever, that the sum of the aggregate outstanding principal amount of outstanding Revolving Loans shall not exceed the Revolving Committed Amount and; provided, further, (i) with regard to each Revolving Lender individually, such Lender’s share of outstanding Revolving Obligations shall not exceed such Lender’s Revolving Commitment Percentage of the Revolving Committed Amount, (ii) with regard to the Revolving Lenders collectively, the aggregate principal amount of outstanding Revolving Obligations shall not exceed ONE HUNDRED MILLION DOLLARS ($100,000,000) (as such aggregate maximum amount may be reduced from time to time be increased pursuant to Section 2.6 or reduced as provided in Section 3.4, the "REVOLVING COMMITTED AMOUNT"); PROVIDED, FURTHER, “Revolving Committed Amount”) and (Aiii) with regard to each Lender individuallythe Revolving Lenders collectively, such Lender's outstanding Revolving Loans shall not exceed such Lender's Revolving Commitment Percentage the aggregate principal amount of the Revolving Committed Amount, and (B) the sum of the aggregate outstanding principal amount of Revolving Loans PLUS LOC Obligations PLUS Swingline Loans shall not exceed the Revolving Committed Amount. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Base Rate Loans or Eurodollar Loans, or a combination thereof, as the Borrower Borrowers may requestrequest and may be repaid and reborrowed in accordance with the provisions hereof; PROVIDEDprovided, HOWEVERhowever, that no more than 15 six Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for with respect to Revolving Loans. For purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same datedate and have the same duration, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof.
Appears in 2 contracts
Sources: Credit Agreement (Speedway Motorsports Inc), Credit Agreement (New Hampshire Motor Speedway, Inc.)
Revolving Commitment. Subject Prior to the Commitment Termination Date, subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth hereinhereof, each Lender severally agrees to make available revolving credit loans in Dollars or in any Alternative Currency to the Borrower such Lender's (“Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANS"Loans”) from time to time from for the Closing Date until the Maturity Datepurposes hereinafter set forth; provided, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDED, HOWEVERhowever, that (i) with regard to each Lender individually, the sum of the aggregate such Lender’s share of outstanding principal amount Revolving Loans, plus such Lender’s Commitment Percentage of Revolving Loans outstanding Swingline Loans, plus such Lender’s Commitment Percentage of LOC Obligations shall not exceed ONE such Lender’s Commitment Percentage of the aggregate Committed Amount, and (ii) with regard to the Lenders collectively, the Advances Outstanding shall not exceed the aggregate Committed Amount then in effect. For purposes hereof, the aggregate amount available hereunder shall be FIVE HUNDRED FORTY-FIVE MILLION DOLLARS ($100,000,000545,000,000.00) (as such aggregate maximum amount may be (A) increased from time to time as provided in Section 2.2, and (B) reduced from time to time as provided in Section 3.42.6, the "REVOLVING COMMITTED AMOUNT"“Committed Amount”); PROVIDEDprovided, FURTHERhowever, (A) with regard to each Lender individually, such Lender's that the aggregate principal amount of all outstanding Revolving Loans and LOC Obligations in Alternative Currencies shall not exceed such Lender's Revolving Commitment Percentage thirty percent (30%) of the Revolving Committed Amount, and Amount (B) the sum of the aggregate outstanding principal amount of “Alternative Currency Sub Limit”). Revolving Loans PLUS LOC Obligations PLUS Swingline Loans shall not exceed the Revolving Committed Amount. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans denominated in Dollars may consist of Alternate Base Rate Loans or Eurodollar EURIBOR/LIBOR Rate Loans, or a combination thereof, as the Initial Borrower may request, and may be repaid and reborrowed in accordance with the provisions hereof. Revolving Loans denominated in any Alternative Currency may consist of Alternate Base Rate Loans or EURIBOR/LIBOR Rate Loans, or a combination thereof, as the Borrower may request; PROVIDED, HOWEVER, that no more than 15 Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof. Notwithstanding the foregoing, any Revolving Loans made on the Closing Date or on either of the two Business Days immediately following the Closing Date may only consist of Alternate Base Rate Loans denominated in Dollars. Any Loans denominated in Dollars shall be made by each Lender at its Domestic Lending Office and any Loans denominated in any Alternative Currency shall be made by each Lender at its EURIBOR/LIBOR Lending Office.
Appears in 2 contracts
Sources: Credit Agreement (Capitalsource Inc), Credit Agreement (Capitalsource Inc)
Revolving Commitment. Subject During the Revolving Commitment Period, subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth hereinhereof, each Revolving Lender severally agrees to make available revolving credit loans in Dollars (“Revolving Loans”) to the Borrower from time to time for the purposes hereinafter set forth; provided, however, that (i) with regard to each Revolving Lender individually, the sum of such Revolving Lender's ’s Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars aggregate principal amount of outstanding Revolving Loans plus outstanding Swingline Loans plus outstanding Revolving LOC Obligations shall not exceed such Revolving Lender’s Revolving Commitment and ("REVOLVING LOANS"ii) from time with regard to time from the Closing Date until the Maturity Date, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDEDLenders collectively, HOWEVER, that the sum of the aggregate outstanding principal amount of outstanding Revolving Loans plus outstanding Swingline Loans plus outstanding Revolving LOC Obligations shall not exceed ONE HUNDRED the Revolving Committed Amount then in effect. For purposes hereof, the aggregate principal amount available for Revolving Loan borrowings hereunder shall be EIGHTY MILLION DOLLARS ($100,000,00080,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.42.8, the "REVOLVING COMMITTED AMOUNT"); PROVIDED, FURTHER, (A) with regard to each Lender individually, such Lender's outstanding Revolving Loans shall not exceed such Lender's Revolving Commitment Percentage of the “Revolving Committed Amount, and (B) the sum of the aggregate outstanding principal amount of Revolving Loans PLUS LOC Obligations PLUS Swingline Loans shall not exceed the Revolving Committed Amount”). The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Alternate Base Rate Loans or Eurodollar LIBOR Rate Loans, or a combination thereof, as the Borrower may request; PROVIDED, HOWEVER, that no more than 15 Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof; provided, however, the Revolving Loans made on either of the two (2) Business Days immediately following the Closing Date may only consist of Alternate Base Rate Loans. LIBOR Rate Loans shall be made by each Revolving Lender at its LIBOR Lending Office and Alternate Base Rate Loans at its Domestic Lending Office. No Revolving Loans shall be made on the Closing Date.
Appears in 2 contracts
Sources: Credit Agreement (Gencorp Inc), Credit Agreement (Gencorp Inc)
Revolving Commitment. Subject During the Commitment Period, subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth hereinhereof, each Revolving Lender severally severally, but not jointly, agrees to make available revolving credit loans (“Revolving Loans”) to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANS") from time to time from the Closing Date until the Maturity Date, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDED, HOWEVER, that the sum of the in an aggregate outstanding principal amount of Revolving Loans shall not exceed ONE HUNDRED up to FORTY-FIVE MILLION DOLLARS ($100,000,00045,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.42.6, the "REVOLVING COMMITTED AMOUNT")“Revolving Committed Amount”) for the purposes hereinafter set forth; PROVIDEDprovided, FURTHERhowever, that (Ai) with regard to each Revolving Lender individually, the sum of such Revolving Lender's ’s Revolving Commitment Percentage of outstanding Revolving Loans plus such Revolving Lender’s Revolving Commitment Percentage of outstanding Swingline Loans plus such Revolving Lender’s Revolving Commitment Percentage of outstanding LOC Obligations shall not exceed such Revolving Lender's ’s Revolving Commitment Percentage of and (ii) with regard to the Revolving Committed AmountLenders collectively, and (B) the sum of the aggregate outstanding principal amount of Revolving Loans PLUS plus outstanding Swingline Loans plus outstanding LOC Obligations PLUS Swingline Loans shall not exceed the Revolving Committed Amount. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Alternate Base Rate Loans or Eurodollar LIBOR Rate Loans, or a combination thereof, as the Borrower may request; PROVIDED, HOWEVER, that no more than 15 Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid or prepaid and reborrowed in accordance with the provisions hereof; provided, however, Revolving Loans made on the Closing Date or on any of the three (3) Business Days following the Closing Date may only consist of Alternate Base Rate Loans. LIBOR Rate Loans shall be made by each Revolving Lender at its LIBOR Lending Office and Alternate Base Rate Loans at its Domestic Lending Office.
Appears in 2 contracts
Sources: Credit Agreement (Orthofix International N V), Credit Agreement (Orthofix International N V)
Revolving Commitment. Subject During the Commitment Period, subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth hereinhereof, each Revolving Lender severally agrees to make available to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by (the “Revolving Loans”) to the Borrower in Dollars ("REVOLVING LOANS") from time to time from in the Closing Date until the Maturity Date, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDED, HOWEVER, that the sum of the aggregate outstanding principal amount of such Revolving Loans shall not exceed ONE HUNDRED MILLION DOLLARS ($100,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.4, the "REVOLVING COMMITTED AMOUNT"); PROVIDED, FURTHER, (A) with regard to each Lender individually, such Lender's outstanding Revolving Loans shall not exceed such Lender's ’s Revolving Commitment Percentage of the Revolving Committed Amount, and Loans requested by the Borrower hereunder for the purposes hereinafter set forth; provided that (Bi) the sum of the aggregate outstanding principal amount of Revolving Loans PLUS LOC Obligations PLUS Swingline Loans outstanding shall not at any time exceed FIVE HUNDRED MILLION DOLLARS ($500,000,000) (as such amount may be increased or reduced from time to time in accordance with the provisions hereof, the “Total Revolving Committed Amount. The initial advance ”), (ii) the aggregate principal amount of Revolving Obligations outstanding shall not at any time exceed the Borrowing Base, and (iii) with regard to each Revolving Lender individually, such Revolving Lender’s Revolving Commitment Percentage of the Revolving Loans on the Closing Date Obligations outstanding shall consist solely of Base Rate Loansnot at any time exceed such Revolving Lender’s Revolving Commitment. Thereafter, Revolving Loans may consist of Base Rate Loans or Eurodollar Rate Loans, or a combination thereof, as the Borrower may request; PROVIDED, HOWEVER, that no more than 15 Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof.
Appears in 2 contracts
Sources: Credit and Guaranty Agreement (Ventas Inc), Credit and Guaranty Agreement (Ventas Inc)
Revolving Commitment. Subject During the Commitment Period, subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth hereinhereof, each Revolving Lender severally agrees to make available revolving credit loans (“Revolving Loans”) to the Borrower from time to time for the purposes hereinafter set forth; provided, however, that (i) with regard to each Revolving Lender individually, the sum of such Revolving Lender's ’s share of outstanding Revolving Loans plus such Revolving Lender’s Revolving Commitment Percentage of revolving credit loans requested outstanding Swingline Loans plus such Revolving Lender’s Revolving Commitment Percentage of outstanding LOC Obligations (after giving effect to the concurrent reduction, if any, in outstanding Swingline Loans and/or outstanding LOC Obligations to be effected by application of the Borrower in Dollars ("REVOLVING LOANS"proceeds of Revolving Loans) from time to time from the Closing Date until the Maturity Date, or shall not exceed such earlier date as Revolving Lender’s Revolving Commitment Percentage of the Revolving Commitments shall have been terminated as provided herein; PROVIDEDCommitted Amount and (ii) with regard to the Revolving Lenders collectively, HOWEVER, that the sum of the aggregate outstanding principal amount of outstanding Revolving Loans plus outstanding Swingline Loans plus outstanding LOC Obligations (after giving effect to the concurrent reduction, if any, in outstanding Swingline Loans and/or outstanding LOC Obligations to be effected by application of the proceeds of Revolving Loans) shall not exceed the Revolving Committed Amount then in effect. For purposes hereof, the aggregate amount available hereunder shall be ONE HUNDRED TWENTY-FIVE MILLION DOLLARS ($100,000,000125,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.42.7, the "REVOLVING COMMITTED AMOUNT"); PROVIDED, FURTHER, (A) with regard to each Lender individually, such Lender's outstanding Revolving Loans shall not exceed such Lender's Revolving Commitment Percentage of the “Revolving Committed Amount, and (B) the sum of the aggregate outstanding principal amount of Revolving Loans PLUS LOC Obligations PLUS Swingline Loans shall not exceed the Revolving Committed Amount”). The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Alternate Base Rate Loans or Eurodollar LIBOR Rate Loans, or a combination thereof, as the Borrower may request; PROVIDED, HOWEVER, that no more than 15 Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof; provided, however, the Revolving Loans made on the Closing Date and on the two Business Days immediately following the Closing Date shall bear interest at the Alternate Base Rate. LIBOR Rate Loans shall be made by each Revolving Lender at its LIBOR Lending Office and Alternate Base Rate Loans at its Domestic Lending Office.
Appears in 2 contracts
Sources: Credit Agreement (Nci Building Systems Inc), Credit Agreement (Nci Building Systems Inc)
Revolving Commitment. Subject to On the terms and subject to the conditions hereof and in reliance upon the representations and warranties set forth hereinof this Agreement (including Article IV), each Lender severally and for itself alone agrees to make available Loans to, and to issue or participate in the issuance of Letters of Credit and Swing Line Loans for the account of, the Borrower pursuant to its Revolving Commitment, as described in this Article II and in Article III, respectively. From time to time on any Business Day occurring prior to the Revolving Commitment Termination Date, each Lender, severally and for itself alone, agrees to make revolving loans in Dollars or in one or more Alternative Currencies (relative to such Lender, its “Revolving Loans”) to the Borrower equal to such Lender's ’s Revolving Commitment Credit Percentage of revolving credit loans the aggregate amount of the applicable Borrowing requested by the Borrower to be made on such day pursuant to this Section 2.1.1. The commitment of each Lender described in Dollars this Section 2.1.1 is herein referred to as its “Revolving Commitment” and shall be in the amount set forth on the Commitment Schedule as such Lender’s “Revolving Commitment”; provided, however that ("REVOLVING LOANS"a) from the aggregate Dollar Equivalent of all Loans which any Lender shall be committed to have outstanding hereunder shall not at any time to time from exceed the Closing Date until the Maturity Date, or product of (i) such earlier date as Lender’s Revolving Credit Percentage multiplied by the Revolving Commitments shall have been terminated as provided herein; PROVIDEDLoan Availability, HOWEVER, that the sum of (b) the aggregate outstanding principal Dollar Equivalent amount of all Revolving Loans which the Lenders shall be committed to have outstanding hereunder shall not at any time exceed ONE HUNDRED MILLION DOLLARS the Revolving Loan Availability and ($100,000,000c) (as such aggregate maximum the Dollar Equivalent amount may be reduced from time to time as provided in Section 3.4, the "REVOLVING COMMITTED AMOUNT"); PROVIDED, FURTHER, (A) with regard to each Lender individually, such Lender's outstanding of all Revolving Loans shall not exceed such Lender's Revolving Commitment Percentage of the Revolving Committed Amount, and (B) the sum of the aggregate outstanding principal amount of Revolving Loans PLUS LOC Obligations PLUS Swingline Loans denominated in Alternative Currencies shall not exceed the Revolving Committed Amount. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Base Rate Loans or Eurodollar Loans, or a combination thereof, as the Borrower may request; PROVIDED, HOWEVER, that no more than 15 Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereofAlternative Currency Sublimit.
Appears in 2 contracts
Sources: Credit Agreement (Great Lakes Dredge & Dock CORP), Credit Agreement (Great Lakes Dredge & Dock CORP)
Revolving Commitment. Subject During the Commitment Period, subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth hereinhereof, each Revolving Lender severally severally, but not jointly, agrees to make available revolving credit loans in Dollars (each a “Revolving Loan”) to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANS") from time to time from the Closing Date until the Maturity Date, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDED, HOWEVER, that the sum in an aggregate principal Dollar Amount of the aggregate outstanding principal amount of Revolving Loans shall not exceed ONE HUNDRED up to SEVENTY-FIVE MILLION DOLLARS ($100,000,00075,000,000) (as such aggregate maximum amount may be increased from time to time as provided in Section 2.19 or reduced from time to time as provided in Section 3.42.5 or Section 4.1(o), the "REVOLVING COMMITTED AMOUNT"“Revolving Committed Amount”) for the purposes hereinafter set forth (such facility, the “Revolving Facility”); PROVIDEDprovided, FURTHERhowever, that (A) with regard to each Revolving Lender individually, the sum of such Revolving Lender's outstanding Revolving Loans shall not exceed such Lender's ’s Revolving Commitment Percentage of the aggregate principal Dollar Amount of outstanding Revolving Committed Amount, Loans plus such Revolving Lender’s Revolving Commitment Percentage of outstanding Swingline Loans plus such Revolving Lender’s Revolving Commitment Percentage of outstanding LC Obligations plus such Lender’s Revolving Commitment Percentage of the Foreign Currency Reserve shall not exceed such Revolving Lender’s Revolving Commitment and (B) with regard to the sum of Revolving Lenders collectively, the aggregate outstanding principal amount of Revolving Loans PLUS LOC Obligations PLUS Swingline Loans Credit Outstandings shall not exceed the Revolving Committed AmountAmount then in effect. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Alternate Base Rate Loans or Eurodollar LIBOR Rate Loans, or a combination thereof, as the Borrower may request; PROVIDED, HOWEVER, that no more than 15 Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof.
Appears in 2 contracts
Sources: Credit Agreement (Enova International, Inc.), Credit Agreement (Cash America International Inc)
Revolving Commitment. Subject During the Commitment Period, subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth hereinhereof, each Revolving Lender severally agrees to severally, but not jointly, shall make available revolving credit loans in Dollars (“Revolving Loans”) to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANS") from time to time from in an aggregate principal amount not at any time exceeding the total of Revolving Commitments of all the Lenders, which amount on the Closing Date until the Maturity Date, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDED, HOWEVER, that the sum of the aggregate outstanding principal amount of Revolving Loans shall not exceed ONE HUNDRED MILLION equal TWO BILLION DOLLARS ($100,000,0002,000,000,000) (as increased from time to time as provided in Section 2.22 and as such aggregate maximum amount may be reduced from time to time as provided in Section 3.42.6, the "REVOLVING COMMITTED AMOUNT"“Revolving Committed Amount”) for the purposes hereinafter set forth (the “Revolving Facility”); PROVIDEDprovided, FURTHERhowever, that (Ai) with regard to each Revolving Lender individually, the sum of such Revolving Lender's outstanding Revolving Loans shall not exceed such Lender's ’s Revolving Commitment Percentage of the aggregate principal amount of outstanding Revolving Committed Amount, Loans plus such Revolving Lender’s Revolving Commitment Percentage of the outstanding principal amount of the LOC Obligations shall not exceed such Revolving Lender’s Revolving Commitment and (Bii) with regard to the Revolving Lenders collectively, the sum of the aggregate outstanding principal amount of outstanding Revolving Loans PLUS plus the aggregate principal amount of outstanding LOC Obligations PLUS Swingline Loans shall not exceed the Revolving Committed AmountAmount then in effect. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Alternate Base Rate Loans or Eurodollar LIBOR Rate Loans, or a combination thereof, as the Borrower may request; PROVIDED, HOWEVER, that no more than 15 Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof; provided, however, the Revolving Loans made on the Closing Date or any of the three (3) Business Days following the Closing Date, may only consist of Alternate Base Rate Loans unless the Borrower delivers a funding indemnity letter, substantially in the form of Exhibit 2.1(a), reasonably acceptable to the Administrative Agent on or before the Closing Date, in which case LIBOR Rate Loans are available to the Borrower. LIBOR Rate Loans shall be made by each Revolving Lender at its LIBOR Lending Office and Alternate Base Rate Loans at its Domestic Lending Office.
Appears in 2 contracts
Sources: Credit Agreement (Mednax, Inc.), Credit Agreement (Mednax, Inc.)
Revolving Commitment. Subject During the Commitment Period, subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth hereinhereof, each Revolving Lender severally severally, but not jointly, agrees to make available to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower (“Revolving Loans”) (i) in Dollars and in Foreign Currencies to the Company ("REVOLVING LOANS"“Company Revolving Loans”) and (ii) in Foreign Currencies to the U.K. Borrower (“U.K. Borrower Revolving Loans”), in each case from time to time from the Closing Date until the Maturity Date, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDED, HOWEVER, that the sum of the in an aggregate outstanding principal amount of Revolving Loans shall not exceed ONE up to FOUR HUNDRED SIXTY MILLION DOLLARS ($100,000,000460,000,000) (as increased from time to time as provided in Section 2.22 and as such aggregate maximum amount may be reduced from time to time as provided in Section 3.42.6, the "REVOLVING COMMITTED AMOUNT"“Revolving Committed Amount”) for the purposes hereinafter set forth (such facility, the “Revolving Facility”); PROVIDEDprovided, FURTHERhowever, that (A) with regard to each Revolving Lender individually, the sum of such Revolving Lender's ’s Commitment Percentage of the aggregate principal amount of outstanding Revolving Loans plus such Revolving Lender’s Commitment Percentage of outstanding Swingline Loans plus such Revolving Lender’s Commitment Percentage of outstanding LOC Obligations plus such Lender’s Revolving Credit Commitment Percentage of the Foreign Currency Reserve shall not exceed such Revolving Lender's ’s Revolving Commitment Percentage of the Revolving Committed AmountCommitment, and (B) with regard to the Revolving Lenders collectively, the sum of the aggregate outstanding principal amount of outstanding Revolving Loans PLUS plus outstanding Swingline Loans plus outstanding LOC Obligations PLUS Swingline Loans plus the Foreign Currency Reserve shall not exceed the Revolving Committed Amount. The initial advance Amount then in effect, (C) the aggregate principal Dollar Equivalent of the outstanding Revolving Loans on made to the Closing Date Company denominated in a Foreign Currency, together with the Dollar Equivalent of outstanding LOC Obligations with respect to Letters of Credit denominated in a Foreign Currency, shall consist solely not exceed the Foreign Currency Sublimit and (D) the aggregate principal Dollar Equivalent of Base Rate LoansRevolving Loans made to the U.K. Borrower shall not exceed SEVENTY-FIVE MILLION DOLLARS ($75,000,000) (the “U.K. Borrower Sublimit”). Thereafter, Revolving Loans may consist of Alternate Base Rate Loans or Eurodollar LIBOR Rate Loans, or a combination thereof, as the Borrower Company may request; PROVIDED, HOWEVER, that no more than 15 Eurodollar request and Revolving Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar denominated in a Foreign Currency may consist of only LIBOR Rate Loans, even if they begin on the same dateand in each case, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof; provided, however, that during the three (3) Business Day period commencing on the Third Amendment Effective Date, the U.K. Borrower may only borrow Revolving Loans to the extent the U.K. Borrower has delivered a funding indemnity letter, substantially in the form of Exhibit 2.1(a), reasonably acceptable to the Administrative Agent not less than three (3) Business Days prior to the Third Amendment Effective Date. LIBOR Rate Loans shall be made by each Revolving Lender at its LIBOR Lending Office and Alternate Base Rate Loans at its Domestic Lending Office. The U.K. Borrower shall not constitute a Borrower under the Company Revolving Loans and the Company shall not constitute a Borrower under the U.K. Borrower Revolving Loans.
Appears in 2 contracts
Sources: Credit Agreement (Esterline Technologies Corp), Credit Agreement (Esterline Technologies Corp)
Revolving Commitment. Subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth herein, each Each Lender severally with a Revolving Commitment agrees to make available to the Borrower such Lender's loans on a revolving basis (“Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANS"Loans”) from time to time from the Closing Date until the Maturity 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. Each of the parties hereto acknowledges and agrees that the Revolving Outstandings on the Restatement Date are equal to $30,000,000 consisting of $25,000,000 outstanding Revolving Loans and $5,000,000 L/C Obligations (together, the "Outstanding Existing Revolving Loan Balance"); provided, that on the Restatement Date, or such earlier date the Company intends to repay all $25,000,000 of outstanding Revolving Loans. Each of the parties hereto further acknowledges and agrees that on the Restatement Date, the obligations of the Company with respect to the "Revolving Commitment" and "Revolving Loans" under the Existing Credit Agreement shall continue as the Revolving Commitments shall have been terminated as provided herein; PROVIDEDCommitment and the Revolving Loans, HOWEVERrespectively, that hereunder. On the sum Restatement Date, each Revolving Lender will make a Revolving Loan in an amount equal to its Pro Rata Share of the aggregate outstanding principal amount Outstanding Existing Revolving Loan Balance with the proceeds thereof being paid on a pro rata revolving basis, to the extent necessary to properly reflect their respective Revolving Commitments, to Lenders who were Revolving Lenders under the Existing Credit Agreement and who remain Revolving Lenders on and after the Restatement Date. Within the limits and provisions of Revolving Loans shall not exceed ONE HUNDRED MILLION DOLLARS ($100,000,000) (as this Agreement Company may make such aggregate maximum amount may be reduced from time to time as provided in Section 3.4borrowings, the "REVOLVING COMMITTED AMOUNT"); PROVIDED, FURTHER, (A) with regard to each Lender individually, repay such Lender's outstanding Revolving Loans shall not exceed such Lender's Revolving Commitment Percentage of the Revolving Committed Amountadvances, and (B) make additional borrowing under the sum of the aggregate outstanding principal amount of Revolving Loans PLUS LOC Obligations PLUS Swingline Loans shall not exceed the Revolving Committed Amount. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Base Rate Loans or Eurodollar Loans, or a combination thereof, as the Borrower may request; PROVIDED, HOWEVER, that no more than 15 Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereofLoan.
Appears in 2 contracts
Sources: Credit Agreement (Titan International Inc), Credit Agreement (Titan International Inc)
Revolving Commitment. Subject Prior to the Commitment Termination Date, subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth hereinhereof, each Lender severally agrees to make available revolving credit loans in Dollars or in any Alternative Currency to the Borrower such Lender's (“Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANS"Loans”) from time to time from for the Closing Date until the Maturity Datepurposes hereinafter set forth; provided, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDED, HOWEVERhowever, that (i) with regard to each Lender individually, the sum of the aggregate such Lender’s share of outstanding principal amount Revolving Loans, plus such Lender’s Commitment Percentage of Revolving Loans outstanding Swingline Loans, plus such Lender’s Commitment Percentage of LOC Obligations shall not exceed ONE such Lender’s Commitment Percentage of the aggregate Committed Amount, and (ii) with regard to the Lenders collectively, the Advances Outstanding shall not exceed the aggregate Committed Amount then in effect. For purposes hereof, the aggregate amount available hereunder shall be NINE HUNDRED MILLION DOLLARS ($100,000,000900,000,000.00) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.42.6, the "REVOLVING COMMITTED AMOUNT"“Committed Amount”) (for the avoidance of doubt, the Committed Amount of any Lender or Class of Lenders shall mean the aggregate Commitments of such Lender or Class of Lenders); PROVIDEDprovided, FURTHERhowever, (A) with regard to each Lender individually, such Lender's that the aggregate principal amount of all outstanding Revolving Loans shall not exceed such Lender's Revolving Commitment Percentage of the Revolving Committed Amount, and (B) the sum of the aggregate outstanding principal amount of Revolving Loans PLUS LOC Obligations PLUS Swingline Loans in Alternative Currencies shall not exceed the Revolving Committed AmountAlternative Currency Sub Limit. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans denominated in Dollars may consist of Alternate Base Rate Loans or Eurodollar EURIBOR/LIBOR Rate Loans, or a combination thereof, as the Initial Borrower may request, and may be repaid and reborrowed in accordance with the provisions hereof. Revolving Loans denominated in any Alternative Currency may consist of Alternate Base Rate Loans or EURIBOR/LIBOR Rate Loans, or a combination thereof, as the Borrower may request; PROVIDED, HOWEVER, that no more than 15 Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof. Notwithstanding the foregoing, any Revolving Loans made on the Closing Date or on either of the two Business Days immediately following the Closing Date may only consist of Alternate Base Rate Loans denominated in Dollars. Any Loans denominated in Dollars shall be made by each Lender at its Domestic Lending Office and any Loans denominated in any Alternative Currency shall be made by each Lender at its EURIBOR/LIBOR Lending Office.
Appears in 2 contracts
Sources: Credit Agreement (Capitalsource Inc), Credit Agreement (Capitalsource Inc)
Revolving Commitment. Subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth herein, each Lender severally agrees to make available to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANSRevolving Loans") up to such Lender's Revolving Commitment from time to time from the Closing Date until the Maturity Termination Date, or such earlier date as the Revolving Commitments shall have been terminated as provided hereinherein for the purposes hereinafter set forth; PROVIDEDprovided, HOWEVERhowever, that the sum of the aggregate outstanding principal amount of outstanding Revolving Loans shall not exceed ONE TWO HUNDRED SEVENTY-FIVE MILLION DOLLARS ($100,000,000275,000,000.00) (as such aggregate maximum amount may be reduced or increased from time to time as provided in Section 3.4, the "REVOLVING COMMITTED AMOUNTRevolving Committed Amount"); PROVIDEDprovided, FURTHERfurther, (Ai) with regard to each Lender individually, such Lender's outstanding Revolving Loans shall not exceed such Lender's Revolving Commitment Percentage of the Revolving Committed AmountCommitment, and (Bii) with regard to the sum of Lenders collectively, the aggregate outstanding principal amount of outstanding Revolving Loans PLUS LOC Obligations PLUS plus the aggregate principal amount of outstanding Competitive Loans plus the aggregate principal amount of outstanding Swingline Loans shall not exceed the Revolving Committed Amount. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Base Rate Loans or Eurodollar Loans, or a combination thereof, as the Borrower may request, and may be repaid and reborrowed in accordance with the provisions hereof; PROVIDEDprovided, HOWEVERhowever, that no more than 15 25 Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for time. For purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof.
Appears in 2 contracts
Sources: Credit Agreement (Autozone Inc), Credit Agreement (Autozone Inc)
Revolving Commitment. Subject During the Commitment Period, subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth hereinhereof, each Lender severally agrees to make available revolving loans (the "Revolving Loans"; such Revolving Loans to include Non-Ratable Loans made by Bank of America pursuant to Section 2.7(e)) to the Borrower Borrowers in the amount of such Lender's Revolving Commitment Percentage of revolving credit loans requested by such Revolving Loans for the Borrower in Dollars purposes hereinafter set forth; provided that ("REVOLVING LOANS"i) from time with regard to time from the Closing Date until the Maturity DateLenders collectively, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDED, HOWEVER, that the sum of the aggregate outstanding principal amount of Revolving Loans Obligations (excluding Discretionary Over-Advances) at any time shall not exceed ONE HUNDRED MILLION DOLLARS ($100,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.4, the "REVOLVING COMMITTED AMOUNT"); PROVIDED, FURTHER, lesser of (A) the Aggregate Revolving Commitment Amount or (B) the Borrowing Base, and (ii) with regard to each Lender individually, such Lender's outstanding Revolving Loans Commitment Percentage of Obligations (excluding Discretionary Over-Advances) at any time shall not exceed the lesser of (A) such Lender's Revolving Committed Amount or (B) such Lender's Revolving Commitment Percentage of the Borrowing Base. Notwithstanding the foregoing, the Agent may make Revolving Committed Loans in its discretion ("Discretionary Over-Advances") for and on behalf of the Lenders in an aggregate principal amount outstanding at any time not to exceed $5,000,000, even though (1) a Default or Event of Default then exists and has not been waived or cured, (2) the other conditions to Extensions of Credit under Section 4.2 have not or cannot be satisfied, or (3) after giving effect thereto, the Obligations then outstanding will be in excess of the Borrowing Base (but not in excess of the Aggregate Revolving Commitment Amount), if in the reasonable business judgment of the Agent, such advances are necessary or advisable for the protection or preservation of the Collateral or in order to improve the likelihood of repayment of the Total Obligations (including financing working capital needs). The Agent will give prompt notice to the Lenders of any Discretionary Over-Advances and the circumstances giving rise thereto, and (B) each Lender will promptly reimburse the sum Agent for its ratable share of such advance. The right and ability of the aggregate outstanding principal amount of Revolving Loans PLUS LOC Obligations PLUS Swingline Loans shall not exceed Agent to make Discretionary Over-Advances hereunder are subject to revocation by written notice to the Revolving Committed AmountAgent from the Required Lenders. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Base Rate Loans or Eurodollar Loans, or a combination thereof, as the Borrower Borrowers may request; PROVIDED, HOWEVER, that no more than 15 Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof.
Appears in 2 contracts
Sources: Credit Agreement (Friedmans Inc), Credit Agreement (Friedmans Inc)
Revolving Commitment. Subject During the Commitment Period, subject to the -------------------- terms and conditions hereof and in reliance upon the representations and warranties set forth hereinhereof, each Lender severally agrees to make available revolving credit loans (the "Revolving loans") to the Borrower from time to time in the --------------- amount of such Lender's Revolving Commitment Percentage of revolving credit loans requested by such Revolving Loans for the Borrower purposes hereinafter set forth; provided that Revolving Loans hereunder -------- shall be available (and existing Revolving Loans may be extended and renewed) only if and where the Existing Credit Agreement shall be fully drawn upon and there shall be no remaining availability thereunder (that is, the liquidity facility established hereby shall be in Dollars the nature of an overadvance line); and provided further that ("REVOLVING LOANS"i) from time with regard to time from the Closing Date until the Maturity DateLenders collectively, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDED, HOWEVER, that the sum of the aggregate outstanding -------- ------- principal amount of Revolving Loans Obligations outstanding at any time shall not exceed the lesser of (A) ONE HUNDRED MILLION DOLLARS ($100,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.4referenced on Schedule 2.1(a), the "REVOLVING COMMITTED AMOUNTRevolving Committed Amount") or (B) until the -------------- -------------------------- Security Release Date relating to inventory (but not thereafter); PROVIDED, FURTHERthe Borrowing Base, and (Aii) with regard to each Lender individually, such Lender's Revolving Commitment Percentage of Obligations outstanding Revolving Loans at any time shall not exceed such Lender's Revolving Commitment Percentage of the Revolving Committed Amount, and (B) the sum of the aggregate outstanding principal amount of Revolving Loans PLUS LOC Obligations PLUS Swingline Loans shall not exceed the Revolving Committed Amount. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Base Rate Loans or Eurodollar Loans, or a combination thereof, as the Borrower may request; PROVIDED, HOWEVER, that no more than 15 Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof.
Appears in 2 contracts
Sources: Credit Agreement (Amerisource Distribution Corp), Credit Agreement (Amerisource Distribution Corp)
Revolving Commitment. Subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth herein, each Lender severally agrees to make available to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANSRevolving Loans") from time to time from the Closing Date until the Maturity Date, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDEDprovided, HOWEVERhowever, that the sum of the aggregate outstanding principal amount of Revolving Loans shall not exceed ONE HUNDRED FIFTY MILLION DOLLARS ($100,000,00050,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.4, the "REVOLVING COMMITTED AMOUNTRevolving Committed Amount"); PROVIDEDprovided, FURTHERfurther, (A) with regard to each Lender individually, such Lender's outstanding Revolving Loans shall not exceed such Lender's Revolving Commitment Percentage of the Revolving Committed Amount, and (B) the sum of the aggregate outstanding principal amount of Revolving Loans PLUS plus LOC Obligations PLUS plus Swingline Loans shall not exceed the Revolving Committed Amount. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Base Rate Loans or Eurodollar Loans, or a combination thereof, as the Borrower may request; PROVIDEDprovided, HOWEVERhowever, that no more than 15 6 Eurodollar Loans which are Revolving Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof.
Appears in 2 contracts
Sources: Credit Agreement (Amn Healthcare Services Inc), Credit Agreement (Amn Healthcare Services Inc)
Revolving Commitment. Subject During the Commitment Period, subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth hereinhereof, each Revolving Lender severally severally, but not jointly, agrees to make available to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANS"“Revolving Loans”) to the Borrowers from time to time from the Closing Date until the Maturity Date, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDED, HOWEVER, that the sum of the in an aggregate outstanding principal amount of Revolving Loans shall not exceed ONE up to FOUR HUNDRED FIFTY MILLION DOLLARS ($100,000,000450,000,000) (as increased from time to time as provided in Section 2.22 and as such aggregate maximum amount may be reduced from time to time as provided in Section 3.42.6, the "REVOLVING COMMITTED AMOUNT"“Revolving Committed Amount”) for the purposes hereinafter set forth (such facility, the “Revolving Facility”); PROVIDEDprovided, FURTHERhowever, that (Ai) with regard to each Revolving Lender individually, the sum of such Revolving Lender's outstanding Revolving Loans shall not exceed such Lender's ’s Revolving Commitment Percentage of the aggregate principal amount of outstanding Revolving Committed Amount, Loans plus such Revolving Lender’s Revolving Commitment Percentage of outstanding Swingline Loans plus such Revolving Lender’s Revolving Commitment Percentage of outstanding LOC Obligations shall not exceed such Revolving Lender’s Revolving Commitment and (Bii) with regard to the Revolving Lenders collectively, the sum of the aggregate outstanding principal amount of outstanding Revolving Loans PLUS plus outstanding Swingline Loans plus outstanding LOC Obligations PLUS Swingline Loans shall not exceed the Revolving Committed AmountAmount then in effect. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Alternate Base Rate Loans or Eurodollar LIBOR Rate Loans, or a combination thereof, as the applicable Borrower may request; PROVIDED, HOWEVER, that no more than 15 Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof; provided, however, the Revolving Loans made on the Closing Date or any of the three (3) Business Days following the Closing Date, may only consist of Alternate Base Rate Loans unless the Borrowers deliver a funding indemnity letter, substantially in the form of Exhibit 2.1(a), reasonably acceptable to the Administrative Agent not less than three (3) Business Days prior to the Closing Date. LIBOR Rate Loans shall be made by each Revolving Lender at its LIBOR Lending Office and Alternate Base Rate Loans at its Domestic Lending Office.
Appears in 1 contract
Revolving Commitment. Subject During the Commitment Period, subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth hereinhereof, each Lender severally agrees to make available revolving credit loans ("Revolving Loans") to the Borrower from time to time for the purposes hereinafter set forth; provided, however, that (i) with regard to each Lender individually, the sum of such Lender's share of outstanding Revolving Loans plus such Lender's Revolving Commitment Percentage of revolving credit loans requested by outstanding Swingline Loans plus such Lender's LOC Commitment Percentage of outstanding LOC Obligations shall not exceed such Lender's Revolving Commitment Percentage of the Borrower in Dollars aggregate Revolving Committed Amount, and ("REVOLVING LOANS"ii) from time with regard to time from the Closing Date until the Maturity DateLenders collectively, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDED, HOWEVER, that the sum of the aggregate outstanding principal amount of outstanding Revolving Loans plus outstanding LOC Obligations shall not exceed ONE HUNDRED the Revolving Committed Amount. For purposes hereof, the aggregate amount available hereunder shall be FORTY MILLION DOLLARS ($100,000,00040,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.42.6, the "REVOLVING COMMITTED AMOUNT"); PROVIDED, FURTHER, (A) with regard to each Lender individually, such Lender's outstanding Revolving Loans shall not exceed such Lender's Revolving Commitment Percentage of the Revolving Committed Amount, and (B) the sum of the aggregate outstanding principal amount of Revolving Loans PLUS LOC Obligations PLUS Swingline Loans shall not exceed the Revolving Committed Amount"). The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Alternate Base Rate Loans or Eurodollar LIBOR Rate Loans, or a combination thereof, as the Borrower may request; PROVIDED, HOWEVER, that no more than 15 Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof; provided that no more than five (5) separate LIBOR Tranches shall be outstanding at any one time. LIBOR Rate Loans shall be made by each Lender at its LIBOR Lending Office and Alternate Base Rate Loans at its Domestic Lending Office.
Appears in 1 contract
Sources: Credit Agreement (Sleepmaster LLC)
Revolving Commitment. Subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth herein, each Revolving Lender severally agrees to make available to the Borrower such Revolving Lender's Revolving ’s Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANS"“Revolving Loans”) from time to time from the Closing Date until the Revolving Maturity Date, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDEDprovided, HOWEVERhowever, that the sum of the aggregate outstanding principal amount of Revolving Loans shall not exceed ONE HUNDRED FIFTY MILLION DOLLARS ($100,000,00050,000,000) (as such aggregate maximum amount may be increased in accordance with Section 2.6 or reduced from time to time as provided in Section 3.4, the "REVOLVING COMMITTED AMOUNT"“Revolving Committed Amount”); PROVIDEDprovided, FURTHERfurther, (A) with regard to each Revolving Lender individually, such Revolving Lender's ’s outstanding Revolving Loans shall not exceed such Revolving Lender's Revolving ’s Commitment Percentage of the Revolving Committed Amount, and (B) the sum of the aggregate outstanding principal amount of Revolving Loans PLUS plus LOC Obligations PLUS plus Swingline Loans shall not exceed the Revolving Committed Amount. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Base Rate Loans or Eurodollar Loans, or a combination thereof, as the Borrower may request; PROVIDEDprovided, HOWEVERhowever, that no more than 15 six (6) Eurodollar Loans which are Revolving Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof.
Appears in 1 contract
Revolving Commitment. Subject During the Commitment Period, subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth hereinhereof, each Revolving Lender severally agrees to make available revolving credit loans ("Revolving Loans") to Borrower from time to time for the Borrower purposes hereinafter set forth; provided, however, that (i) with regard to each Revolving Lender individually, the sum of such Revolving Lender's share of outstanding Revolving Loans plus such Revolving Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANS") from time to time from the Closing Date until the Maturity Date, or outstanding Swingline Loans plus such earlier date as Revolving Lender's Revolving Commitment Percentage of outstanding LOC Obligations shall not exceed such Revolving Lender's Revolving Commitment Percentage of the Revolving Commitments shall have been terminated as provided herein; PROVIDEDCommitted Amount and (ii) with regard to the Revolving Lenders collectively, HOWEVER, that the sum of the aggregate outstanding principal amount of outstanding Revolving Loans plus outstanding Swingline Loans plus outstanding LOC Obligations shall not exceed ONE HUNDRED the Revolving Committed Amount then in effect. For purposes hereof, the aggregate maximum amount available hereunder shall be TWENTY-FIVE MILLION DOLLARS ($100,000,00025,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.42.7, the "REVOLVING COMMITTED AMOUNT"); PROVIDED, FURTHER, (A) with regard to each Lender individually, such Lender's outstanding Revolving Loans shall not exceed such Lender's Revolving Commitment Percentage of the Revolving Committed Amount, and (B) the sum of the aggregate outstanding principal amount of Revolving Loans PLUS LOC Obligations PLUS Swingline Loans shall not exceed the Revolving Committed Amount"). The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Alternate Base Rate Loans or Eurodollar LIBOR Rate Loans, or a combination thereof, as the Borrower may request; PROVIDED, HOWEVER, that no more than 15 Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof; provided, however, the Revolving Loans made on the Closing Date and on the two Business Days immediately following the Closing Date shall bear interest at the Alternate Base Rate unless Borrower executes a funding indemnity letter in form and substance reasonably satisfactory to Administrative Agent. LIBOR Rate Loans shall be made by each Revolving Lender at its LIBOR Lending Office and Alternate Base Rate Loans at its Domestic Lending Office.
Appears in 1 contract
Revolving Commitment. Subject To the extent any Revolving Loans (as defined below) are outstanding under the First Amended and Restated Credit Agreement on the Second Restatement Effective Date, such Revolving Loans shall be deemed to constitute Revolving Loans outstanding hereunder from and after the Second Restatement Effective Date. In addition, subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth herein, each Revolving Lender severally agrees to make available to the Borrower such Revolving Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANSRevolving Loans") from time to time from the Closing Second Restatement Effective Date until the Revolving Loan Maturity Date, or such earlier date as on which the Revolving Commitments shall have been terminated as provided herein; PROVIDEDprovided, HOWEVERhowever, that (i) with regard to the sum of Lenders collectively, the aggregate outstanding principal amount of Revolving Loans the Obligations outstanding shall not at any time exceed ONE HUNDRED MILLION DOLLARS ($100,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.4, the "REVOLVING COMMITTED AMOUNT"); PROVIDED, FURTHER, lesser of (A) the Aggregate Committed Amount minus the Availability Reserve and (B) the Borrowing Base; and (ii) with regard to each Revolving Lender individually, the amount of such Revolving Lender's Revolving Commitment Percentage of the Revolving Obligations outstanding Revolving Loans shall not exceed such Revolving Lender's Revolving Commitment Percentage of the Revolving Committed Amount, and (B) Amount minus the sum of the aggregate outstanding principal amount of Revolving Loans PLUS LOC Obligations PLUS Swingline Loans shall not exceed the Revolving Committed AmountAvailability Reserve. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Base Rate Loans or Eurodollar Loans, or a combination thereof, as the Borrower may request; PROVIDEDprovided, HOWEVERhowever, that no more than 15 six Eurodollar Loans shall be outstanding hereunder under this Section 2.1 at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof.
Appears in 1 contract
Revolving Commitment. Subject During the Commitment Period, subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth hereinhereof, each Revolving Lender severally agrees to make available revolving credit loans (“Revolving Loans”) to the Borrower Borrowers from time to time for the purposes hereinafter set forth; provided, however, that (i) the aggregate principal amount of outstanding Revolving Loans and Swingline Loans made to the Company plus the outstanding Company LOC Obligations shall not exceed $150,000,000 at any time outstanding, (ii) no more than $75,000,000 of Revolving Loans may be borrowed on the Closing Date, (iii) no Revolving Loans shall be made if there is more than $110,000,000 of unrestricted cash and Cash Equivalents in the aggregate on the consolidated balance sheet of the Company and its Subsidiaries, (iv) with regard to each Revolving Lender individually, the sum of such Revolving Lender's ’s Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars aggregate principal amount of outstanding Revolving Loans plus outstanding Swingline Loans plus outstanding LOC Obligations shall not exceed such Revolving Lender’s Revolving Commitment and ("REVOLVING LOANS"v) from time with regard to time from the Closing Date until the Maturity Date, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDEDLenders collectively, HOWEVER, that the sum of the aggregate principal amount of outstanding principal Revolving Loans plus outstanding Swingline Loan plus outstanding LOC Obligations shall not exceed the lesser of (A) the Revolving Committed Amount and (B) the Borrowing Base. For purposes hereof, the aggregate amount of Revolving Loans available hereunder shall not exceed ONE be TWO HUNDRED FORTY MILLION DOLLARS ($100,000,000240,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in accordance with the terms of Section 3.42.7, the "REVOLVING COMMITTED AMOUNT"); PROVIDED, FURTHER, (A) with regard to each Lender individually, such Lender's outstanding Revolving Loans shall not exceed such Lender's Revolving Commitment Percentage of the “Revolving Committed Amount, and (B) the sum of the aggregate outstanding principal amount of Revolving Loans PLUS LOC Obligations PLUS Swingline Loans shall not exceed the Revolving Committed Amount”). The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Alternate Base Rate Loans or Eurodollar LIBOR Rate Loans, or a combination thereof, as the Administrative Borrower may request; PROVIDED, HOWEVER, that no more than 15 Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof. LIBOR Rate Loans shall be made by each Lender at its LIBOR Lending Office and Alternate Base Rate Loans at its Domestic Lending Office.
Appears in 1 contract
Sources: Credit Agreement (Alliance One International, Inc.)
Revolving Commitment. Subject to the terms and conditions hereof -------------------- and in reliance upon the representations and warranties set forth herein, each Lender severally agrees to make available to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANSRevolving Loans") from time to time --------------- from the Closing Date until the Maturity Date, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDEDprovided, HOWEVERhowever, that the sum of the aggregate outstanding principal -------- ------- amount of Revolving Loans shall not exceed ONE TWO HUNDRED MILLION DOLLARS ($100,000,000200,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.4, the "REVOLVING COMMITTED AMOUNTRevolving Committed Amount"); PROVIDED-------------------------- provided, FURTHERfurther, (A) with regard to each Lender individually, such -------- ------- Lender's outstanding Revolving Loans shall not exceed such Lender's Revolving Commitment Percentage of the Revolving Committed Amount, and (B) the sum of the aggregate outstanding principal amount of Revolving Loans PLUS plus LOC Obligations PLUS Swingline Loans shall not exceed the Revolving Committed Amount. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Base Rate Loans or Eurodollar Loans, or a combination thereof, as the Borrower may request; PROVIDEDprovided, HOWEVERhowever, that -------- ------- no more than 15 six (6) Eurodollar Loans which are Revolving Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof.
Appears in 1 contract
Sources: Credit Agreement (Potlatch Corp)
Revolving Commitment. Subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth herein, each Lender severally agrees to make available to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANS") from time to time from the Closing Date until the Maturity Termination Date, or such earlier date as the Revolving Commitments shall have been terminated as provided hereinherein for the purposes hereinafter set forth; PROVIDED, HOWEVER, that the sum of the aggregate outstanding principal amount of outstanding Revolving Loans PLUS the aggregate amount of outstanding LOC Obligations shall not at any time exceed ONE HUNDRED FORTY-TWO MILLION DOLLARS ($100,000,00042,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.4, the "REVOLVING COMMITTED AMOUNT"); PROVIDED, FURTHER, (A) with regard to each Lender individually, that such Lender's outstanding Revolving Loans PLUS Participation Interests in outstanding LOC Obligations shall not at any time exceed such Lender's Revolving Commitment Percentage of the Revolving Committed Amount, and (B) the sum of the aggregate outstanding principal amount of Revolving Loans PLUS LOC Obligations PLUS Swingline Loans shall not exceed the Revolving Committed Amount. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Base Rate Loans or Eurodollar Loans, or a combination thereof, as the Borrower may request, and may be repaid and reborrowed in accordance with the provisions hereof; PROVIDED, HOWEVER, that the Revolving Loans outstanding at any time shall consist of no more than 15 six (6) separate Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for Loans. For purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions borrowings of Eurodollar Loans may, in accordance with the provisions hereof, be combined through extensions or conversions at the end of existing Interest Periods to constitute a single new Eurodollar Loan with a single the same Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof.
Appears in 1 contract
Sources: Credit Agreement (Flo Fill Co Inc)
Revolving Commitment. Subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth herein, each Lender severally agrees to make available to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANSRevolving Loans") from time to time from the Closing Date until the Maturity Date, or such earlier date as the Revolving Commitments shall have been terminated as provided hereinherein for the purposes hereinafter set forth; PROVIDEDprovided, HOWEVERhowever, that the sum of the aggregate outstanding principal amount of outstanding Revolving Loans shall not exceed ONE TWO HUNDRED MILLION DOLLARS ($100,000,000200,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.4, the "REVOLVING COMMITTED AMOUNTRevolving Committed Amount"); PROVIDEDprovided, FURTHERfurther, (A) with regard to each Lender individually, such Lender's outstanding Revolving Loans shall not exceed such Lender's Revolving Commitment Percentage of the Revolving Committed Amount, and (B) the sum of the aggregate outstanding principal amount of outstanding Revolving Loans PLUS plus LOC Obligations PLUS Swingline Loans outstanding shall not exceed the Revolving Committed Amount. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Base Rate Loans or Eurodollar Loans, or a combination thereof, as the Borrower may request; PROVIDEDprovided, HOWEVERhowever, that no more than 15 Eurodollar Loans shall be outstanding hereunder under this Credit Agreement at any time (it being understood that, for time. For purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof.
Appears in 1 contract
Revolving Commitment. Subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth herein, each Lender severally agrees to make available to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANSRevolving Loans") from time to time from the Closing Date until the Maturity Date, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDEDprovided, HOWEVERhowever, that the sum of the aggregate outstanding principal amount of Revolving Loans plus the aggregate amount of Swing Line Loans outstanding plus the outstanding LOC Obligations shall not exceed ONE HUNDRED SEVENTY FIVE MILLION DOLLARS ($100,000,00075,000,000.00) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.4, the "REVOLVING COMMITTED AMOUNTRevolving Committed Amount"); PROVIDEDprovided, FURTHERfurther, (A) with regard to each Lender individually, such Lender's outstanding Revolving Loans plus its Participation Interests in Letters of Credit or LOC Obligations plus its Participation Interests in Swing Line Loans shall not exceed such Lender's Revolving Commitment Percentage of the Revolving Committed Amount, and (B) the sum of the aggregate outstanding principal amount of Revolving Loans PLUS LOC Obligations PLUS Swingline Loans shall not exceed the Revolving Committed Amount. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Base Rate Loans or Eurodollar Loans, or a combination thereof, as the Borrower may request; PROVIDEDprovided, HOWEVERhowever, that no more than 15 10 Eurodollar Loans which are Revolving Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof.
Appears in 1 contract
Sources: Credit Agreement (Aaipharma Inc)
Revolving Commitment. Subject During the Commitment Period, subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth hereinhereof, each Revolving Lender severally severally, but not jointly, agrees to make available to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANS"“Revolving Loans”) to the Borrowers from time to time from the Closing Date until the Maturity Date, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDED, HOWEVER, that the sum of the in an aggregate outstanding principal amount of Revolving Loans shall not exceed up to ONE HUNDRED FORTY MILLION DOLLARS ($100,000,000140,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.42.4, the "REVOLVING COMMITTED AMOUNT")“Revolving Committed Amount”) for the purposes hereinafter set forth; PROVIDEDprovided, FURTHERhowever, that (Ai) with regard to each Revolving Lender individually, the sum of such Revolving Lender's ’s Revolving Commitment Percentage of the aggregate principal amount of outstanding Revolving Loans shall not exceed such Revolving Lender's ’s Revolving Commitment Percentage of and (ii) with regard to the Revolving Committed AmountLenders collectively, and (B) the sum of the aggregate outstanding principal amount of outstanding Revolving Loans PLUS LOC Obligations PLUS Swingline Loans shall not exceed the Revolving Committed AmountAmount then in effect. The initial advance of No Revolving Loan shall be made by any Revolving Lender if (i) such Revolving Loan and the Revolving Loans on Loan Collateral therefor are not approved by the Closing Date shall consist solely Administrative Agent in its discretion, (ii) before or after giving effect to such Revolving Loan, the Availability is or would be negative or (iii) the conditions to Extensions of Base Rate LoansCredit in Section 4.2 are not satisfied. Thereafter, Revolving Loans may consist of Alternate Base Rate Loans or Eurodollar LIBOR Rate Loans, or a combination thereof, as the Borrower Borrowers may request; PROVIDED, HOWEVER, that no more than 15 Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof; provided, however, the Revolving Loans made on the Restatement Date or any of the three (3) Business Days following the Restatement Date may only consist of Alternate Base Rate Loans unless the Borrowers deliver a funding indemnity letter, substantially in the form of Exhibit 2.1(a), reasonably acceptable to the Administrative Agent not less than three (3) Business Days prior to the Restatement Date. LIBOR Rate Loans shall be made by each Revolving Lender at its LIBOR Lending Office and Alternate Base Rate Loans at its Domestic Lending Office.
Appears in 1 contract
Sources: Credit Agreement (CapLease, Inc.)
Revolving Commitment. (a) Subject to the terms and conditions hereof hereof, you and the Other Purchasers hereby establish for the benefit of the Note Issuers a revolving credit facility pursuant to which the Note Issuers may borrow (and repay and reborrow) an aggregate principal amount at any one time outstanding not in reliance upon excess of the representations and warranties set forth herein, each Lender severally agrees to make available to the Borrower such Lender's Available Revolving Commitment Percentage of as in effect from time to time. The revolving credit loans requested by facility established hereunder shall expire, and all amounts outstanding thereunder shall be due and payable, on the Borrower in Dollars ("REVOLVING LOANS") Expiration Date. At any time or from time to time from on or after the Closing Date until and prior to the Maturity Expiration Date, subject to the limitations set forth in section 12.2(b), the Note Issuers may borrow (and repay and reborrow) from each holder of Senior Revolving Credit Notes an aggregate principal amount at any one time outstanding not in excess of such holder's Percentage of the Available Revolving Commitment. The obligations of each holder of Senior Revolving Credit Notes are several and not joint and several. Each such borrowing (a "Revolving Credit Loan" and, collectively, the "Revolving Credit Loans") shall be made pro rata from the holders of the Senior --- ---- Revolving Credit Notes in accordance with their respective Percentages of the Available Revolving Commitment unless any such holder fails to honor its commitment under this section 12.2(a); provided, however, that such -------- failure shall not relieve you of your commitment under this section 12.2(a).
(b) The Revolving Credit Loans shall be made in such amount (in an integral multiple of $100,000 and a minimum of $400,000 or such earlier lesser amount as may be equal to the Available Revolving Commitment) and on such date as the Revolving Commitments Note Issuers shall have been terminated as provided herein; PROVIDED, HOWEVER, that specify in a notice substantially in the sum form of Exhibit 12.2(b) attached hereto delivered to the holders of the aggregate outstanding principal amount of --------------- Senior Revolving Loans shall not exceed ONE HUNDRED MILLION DOLLARS ($100,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.4, the "REVOLVING COMMITTED AMOUNT"); PROVIDED, FURTHER, (A) with regard to each Lender individually, such Lender's outstanding Revolving Loans shall not exceed such Lender's Revolving Commitment Percentage of the Revolving Committed Amount, and (B) the sum of the aggregate outstanding principal amount of Revolving Loans PLUS LOC Obligations PLUS Swingline Loans shall not exceed the Revolving Committed Amount. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Base Rate Loans or Eurodollar Loans, or a combination thereof, as the Borrower may request; PROVIDED, HOWEVER, that no more than 15 Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, Credit Notes in accordance with the provisions hereofof section 23 not less than three Business Days nor more than 10 Business Days prior to the date so specified, provided that no holder of any Senior Revolving -------- Credit Notes shall be combined obligated to (i) make any Revolving Credit Loan if - at the end time thereof or after giving effect thereto any Default or Event of existing Interest Periods Default shall exist or any condition shall exist which has resulted in, or could reasonably be expected to constitute result in, a new Eurodollar Loan with a single Interest Period). Material Adverse Change or (ii) make more than three Revolving Credit Loans hereunder may during any calendar -- month.
(c) The Revolving Credit Loans shall be repaid and reborrowed made by transfer of immediately available funds to an account of the Note Issuers in accordance with the provisions hereofwritten instructions of the Note Issuers set forth in the Officers' Certificate referred to in section 12.2(b).
Appears in 1 contract
Revolving Commitment. Subject During the Commitment Period, subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth hereinhereof, each Lender severally agrees to make available revolving credit loans ("Revolving Loans") to the Borrower from time to time for the purposes hereinafter set forth; provided, however, that (i) with regard to each Lender individually, the sum of such Lender's share of outstanding Revolving Loans plus such Lender's Revolving Commitment Percentage of revolving credit loans requested by Swingline Loans plus such Lender's LOC Commitment Percentage of LOC Obligations shall not exceed such Lender's Revolving Commitment Percentage of the Borrower in Dollars aggregate Revolving Committed Amount, and ("REVOLVING LOANS"ii) from time with regard to time from the Closing Date until the Maturity DateLenders collectively, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDED, HOWEVER, that the sum of the aggregate outstanding principal amount of outstanding Revolving Loans plus Swingline Loans plus LOC Obligations shall not exceed ONE (A) on or prior to the Subsequent Transactions Closing Date, the aggregate Revolving Committed Amount then in effect and (B) after the Subsequent Transactions Closing Date, the lesser of the aggregate Revolving Committed Amount then in effect and the Borrowing Base. For purposes hereof, the aggregate amount available hereunder shall be TWO HUNDRED SEVENTY-FIVE MILLION DOLLARS ($100,000,000275,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.42.6, the "REVOLVING COMMITTED AMOUNTRevolving Committed Amount"); PROVIDEDprovided, FURTHERhowever, (A) with regard to each Lender individuallythat, such Lender's outstanding Revolving Loans shall not exceed such Lender's Revolving Commitment Percentage of until the Subsequent Transactions Closing Date, the Revolving Committed Amount, and Amount shall be TWO HUNDRED THIRTY MILLION DOLLARS (B) the sum of the aggregate outstanding principal amount of Revolving Loans PLUS LOC Obligations PLUS Swingline Loans shall not exceed the Revolving Committed Amount$230,000,000). The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Alternate Base Rate Loans or Eurodollar LIBOR Rate Loans, or a combination thereof, as the Borrower may request; PROVIDED, HOWEVER, that no more than 15 Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof.. LIBOR Rate Loans shall be made by each Lender at its LIBOR Lending Office and Alternate Base Rate Loans at its Domestic Lending Office. Notwithstanding any provision herein to the contrary, (x) the initial LIBOR borrowing under this Agreement shall be made, at the Borrower's election, as a LIBOR Rate Loan having an Interest Period of one month or a LIBOR Rate Loan having an Interest Period of fourteen (14) days and (y) subsequent to such initial LIBOR borrowing but prior to the closing of the initial syndication of the Commitment and the Loans to the Lenders, all LIBOR Rate Loans under this Agreement shall be made or continued, at the Borrower's election, as LIBOR Rate Loans having an Interest Period of fourteen (14) days. All LIBOR Rate Loans having an Interest Period of fourteen (14) days shall bear interest at the same rate as LIBOR Rate Loans having an Interest Period of one month..
Appears in 1 contract
Sources: Credit Agreement (Galey & Lord Inc)
Revolving Commitment. Subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth herein, each Revolving Lender severally agrees to make available to the Borrower such Revolving Lender's Revolving ’s Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANS"“Revolving Loans”) from time to time from the Closing Date until the Revolving Maturity Date, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDEDprovided, HOWEVERhowever, that the sum of the aggregate outstanding principal amount of Revolving Loans shall not exceed ONE TWO HUNDRED SEVENTY-FIVE MILLION DOLLARS ($100,000,000275,000,000) (as such aggregate maximum amount may be increased in accordance with Section 2.7 or reduced from time to time as provided in Section 3.4, the "REVOLVING COMMITTED AMOUNT"“Revolving Committed Amount”); PROVIDEDprovided, FURTHERfurther, (A) with regard to each Revolving Lender individually, such Revolving Lender's outstanding ’s Revolving Loans Credit Exposure shall not exceed such Revolving Lender's ’s Revolving Commitment Percentage of the Revolving Committed AmountCommitment, and (B) the sum of the aggregate outstanding principal amount of Revolving Loans PLUS plus LOC Obligations PLUS plus Swingline Loans shall not exceed the Revolving Committed Amount. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Base Rate Loans or Eurodollar Loans, or a combination thereof, as the Borrower may request; PROVIDEDprovided, HOWEVERhowever, that no more than 15 six (6) Eurodollar Loans which are Revolving Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof.
Appears in 1 contract
Revolving Commitment. Subject During the Commitment Period, -------------------- subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth hereinhereof, each Lender severally agrees to make available revolving credit loans ("Revolving Loans") to the --------------- Borrower from time to time for the purposes hereinafter set forth; provided, however, that (i) with regard to each Lender -------- ------- individually, the sum of such Lender's share of outstanding Revolving Loans plus such Lender's Revolving Commitment Percentage ---- of Swingline Loans plus such Lender's LOC Commitment Percentage of ---- LOC Obligations shall not exceed such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars aggregate Revolving Committed Amount, and ("REVOLVING LOANS"ii) from time with regard to time from the Closing Date until the Maturity DateLenders collectively, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDED, HOWEVER, that the sum of the aggregate outstanding principal amount of outstanding Revolving Loans plus Swingline Loans plus LOC ---- ---- Obligations, plus Competitive Loans shall not exceed ONE HUNDRED MILLION the Revolving ---- Committed Amount. For purposes hereof, the aggregate amount available hereunder shall be TWO Hundred FIVE Million DOLLARS ($100,000,000205,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.42.6, the "REVOLVING COMMITTED AMOUNTRevolving --------- Committed Amount"); PROVIDED, FURTHER, (A) with regard to each Lender individually, such Lender's outstanding Revolving Loans shall not exceed such Lender's Revolving Commitment Percentage of the Revolving Committed Amount, and (B) the sum of the aggregate outstanding principal amount of Revolving Loans PLUS LOC Obligations PLUS Swingline Loans shall not exceed the Revolving Committed Amount. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Alternate Base ---------------- Rate Loans or Eurodollar LIBOR Rate Loans, or a combination thereof, as the Borrower may request; PROVIDED, HOWEVER, that no more than 15 Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof. LIBOR Rate Loans shall be made by each Lender at its LIBOR Lending Office and Alternate Base Rate Loans at its Domestic Lending Office.
Appears in 1 contract
Revolving Commitment. Subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth herein, each Lender severally agrees to make available to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANS"“Revolving Loans”) up to such Lender’s Revolving Commitment from time to time from the Closing Date until the Maturity Termination Date, or such earlier date as the Revolving Commitments shall have been terminated as provided hereinherein for the purposes hereinafter set forth; PROVIDEDprovided, HOWEVERhowever, that the sum of the aggregate outstanding principal amount of outstanding Revolving Loans shall not exceed ONE FOUR HUNDRED MILLION DOLLARS ($100,000,000400,000,000.00) (as such aggregate maximum amount may be reduced or increased from time to time as provided in Section 2.2 or Section 3.4, the "REVOLVING COMMITTED AMOUNT"“Revolving Committed Amount”); PROVIDEDprovided, FURTHERfurther, (Ai) with regard to each Lender individually, the aggregate amount of such Lender's ’s outstanding Revolving Loans shall not exceed such Lender's ’s Revolving Commitment Percentage of the Revolving Committed AmountCommitment, and (Bii) with regard to the sum of Lenders collectively, the aggregate outstanding principal amount of outstanding Revolving Loans PLUS LOC Obligations PLUS Swingline Loans shall not at any time exceed the Revolving Committed Amount. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Base Rate Loans or Eurodollar Loans, or a combination thereof, as the Borrower may request, and may be repaid and reborrowed in accordance with the provisions hereof; PROVIDEDprovided, HOWEVERhowever, that no more than 15 borrowings of five (5) Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for time. For purposes hereof, borrowings of Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new borrowing of Eurodollar Loan Loans with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof. Notwithstanding the foregoing, the Borrower may not request any Loans hereunder while a Change of Control Standstill Period shall be in effect pursuant to Section 3.4(e) hereof.
Appears in 1 contract
Revolving Commitment. Subject During the Commitment Period, subject to the terms and conditions hereof and in reliance hereof, the Initial Lender agrees initially and, upon an assignment of any portion of the representations and warranties set forth hereinRevolving Commitment to one or more Lenders, each Lender severally agrees all Lenders, including, without limitation, the Initial Lender, severally, agree to make available revolving credit loans (each a "Loan" and collectively the "Loans") to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANS") from time to time from for the Closing Date until purposes hereinafter set forth; provided, however, that (i) in the Maturity Date, or such earlier date as event of an assignment of any portion of the Revolving Commitments shall have been terminated as provided herein; PROVIDEDCommitment Amount to one or more Lenders, HOWEVER, that the sum of the aggregate outstanding principal amount of Revolving Loans shall not exceed ONE HUNDRED MILLION DOLLARS ($100,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.4, the "REVOLVING COMMITTED AMOUNT"); PROVIDED, FURTHER, (A) with regard to each Lender individually, the sum of such Lender's share of outstanding Revolving Loans shall not exceed such Lender's Revolving Commitment Percentage of the aggregate Revolving Committed Commitment Amount, and (Bii) with regard to the Lenders collectively, the sum of the aggregate outstanding principal amount of Revolving Loans PLUS LOC Obligations PLUS Swingline outstanding Loans shall not exceed the aggregate Revolving Committed AmountCommitment Amount then in effect. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Base Rate Loans or Eurodollar Loans, or a combination thereof, as the Borrower may request; PROVIDED, HOWEVER, that no more than 15 Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for For purposes hereof, Eurodollar Loans with different Interest Periods the aggregate amount available hereunder shall be considered as separate Eurodollar Loans, even if they begin on FORTY MILLION DOLLARS ($40,000,000) (the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period"Revolving Commitment Amount"). Revolving Loans hereunder shall consist of LIBOR Rate Loans and may be repaid and reborrowed in accordance with the provisions hereof. LIBOR Rate Loans shall be made by each Lender at its LIBOR Lending Office. The Revolving Commitment Amount may be increased above $40,000,000 in the event Borrower proposes, and Agent accepts, in its sole and absolute discretion, additional real estate collateral as security for the Loans. Agent may condition the acceptance of any such additional collateral on such terms and conditions as Agent, in its sole discretion determines.
Appears in 1 contract
Sources: Revolving Loan Agreement (Capital Lease Funding Inc)
Revolving Commitment. Subject During the Commitment Period, subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth hereinhereof, each Revolving Lender severally severally, but not jointly, agrees to make available to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANS"“Revolving Loans”) to the Borrowers from time to time from the Closing Date until the Maturity Date, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDED, HOWEVER, that the sum of the in an aggregate outstanding principal amount of Revolving Loans shall not exceed ONE up to FIVESIX HUNDRED FIFTY MILLION DOLLARS ($100,000,000550,000,000650,000,000) (as increased from time to time as provided in Section 2.22(a) and as such aggregate maximum amount may be reduced from time to time as provided in Section 3.42.6, the "REVOLVING COMMITTED AMOUNT"“Revolving Committed Amount”) for the purposes hereinafter set forth (such facility, the “Revolving Facility”); PROVIDEDprovided, FURTHERhowever, that (Ai) with regard to each Revolving Lender individually, the sum of such Revolving Lender's outstanding Revolving Loans shall not exceed such Lender's ’s Revolving Commitment Percentage of the aggregate principal amount of outstanding Revolving Committed Amount, Loans plus such Revolving Lender’s Revolving Commitment Percentage of outstanding Swingline Loans plus such Revolving Lender’s Revolving Commitment Percentage of outstanding LOC Obligations shall not exceed such Revolving Lender’s Revolving Commitment and (Bii) with regard to the Revolving Lenders collectively, the sum of the aggregate outstanding principal amount of outstanding Revolving Loans PLUS plus outstanding Swingline Loans plus outstanding LOC Obligations PLUS Swingline Loans shall not exceed the Revolving Committed AmountAmount then in effect. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Alternate Base Rate Loans or Eurodollar LIBOR Rate Loans, or a combination thereof, as the Borrower Borrowers may request; PROVIDED, HOWEVER, that no more than 15 Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof; provided, however, the Revolving Loans made on the Closing Date or any of the three (3) Business Days following the Closing Date, may only consist of Alternate Base Rate Loans unless the Borrowers deliver a funding indemnity letter, substantially in the form of Exhibit 2.1(a), reasonably acceptable to the Administrative Agent not less than three (3) Business Days prior to the Closing Date. LIBOR Rate Loans shall be made by each Revolving Lender at its LIBOR Lending Office and Alternate Base Rate Loans at its Domestic Lending Office.
Appears in 1 contract
Revolving Commitment. Subject During the Commitment Period, subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth hereinhereof, each Revolving Lender severally severally, but not jointly, agrees to make available to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANS"“Revolving Loans”) to the Borrowers from time to time from the Closing Date until the Maturity Date, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDED, HOWEVER, that the sum of the in an aggregate outstanding principal amount of Revolving Loans shall not exceed ONE up to TWO HUNDRED TWENTY-FIVE MILLION DOLLARS ($100,000,000225,000,000) (as increased from time to time as provided in Section 2.22 and as such aggregate maximum amount may be reduced from time to time as provided in Section 3.42.6, the "REVOLVING COMMITTED AMOUNT"“Revolving Committed Amount”) for the purposes hereinafter set forth (such facility, the “Revolving Facility”); PROVIDEDprovided, FURTHERhowever, that (Ai) with regard to each Revolving Lender individually, the sum of such Revolving Lender's outstanding Revolving Loans shall not exceed such Lender's ’s Revolving Commitment Percentage of the aggregate principal amount of outstanding Revolving Committed Amount, Loans plus such Revolving Lender’s Revolving Commitment Percentage of outstanding Swingline Loans plus such Revolving Lender’s Revolving Commitment Percentage of outstanding LOC Obligations shall not exceed such Revolving Lender’s Revolving Commitment and (Bii) with regard to the Revolving Lenders collectively, the sum of the aggregate outstanding principal amount of outstanding Revolving Loans PLUS plus outstanding Swingline Loans plus outstanding LOC Obligations PLUS Swingline Loans shall not exceed the Revolving Committed AmountAmount then in effect. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Alternate Base Rate Loans or Eurodollar LIBOR Rate Loans, or a combination thereof, as the applicable Borrower may request; PROVIDED, HOWEVER, that no more than 15 Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof; provided, however, the Revolving Loans made on the Closing Date or any of the three (3) Business Days following the Closing Date, may only consist of Alternate Base Rate Loans unless the Borrowers deliver a funding indemnity letter, substantially in the form of Exhibit 2.1(a), reasonably acceptable to the Administrative Agent not less than three (3) Business Days prior to the Closing Date. LIBOR Rate Loans shall be made by each Revolving Lender at its LIBOR Lending Office and Alternate Base Rate Loans at its Domestic Lending Office.
Appears in 1 contract
Revolving Commitment. Subject During the Commitment Period, subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth hereinhereof, each Revolving Lender severally agrees to severally, but not jointly, shall make available revolving credit loans in Dollars (“Revolving Loans”) to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANS") from time to time from in an aggregate principal amount not at any time exceeding the total of Revolving Commitments of all the Lenders, which amount on the Closing Date until the Maturity Dateshall equal ONE BILLION, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDED, HOWEVER, that the sum of the aggregate outstanding principal amount of Revolving Loans shall not exceed ONE THREE HUNDRED MILLION DOLLARS ($100,000,0001,300,000,000) (as increased from time to time as provided in Section 2.22 and as such aggregate maximum amount may be reduced from time to time as provided in Section 3.42.6, the "REVOLVING COMMITTED AMOUNT"“Revolving Committed Amount”) for the purposes hereinafter set forth (the “Revolving Facility”); PROVIDEDprovided, FURTHERhowever, that (Ai) with regard to each Revolving Lender individually, the sum of such Revolving Lender's outstanding Revolving Loans shall not exceed such Lender's ’s Revolving Commitment Percentage of the aggregate principal amount of outstanding Revolving Committed Amount, Loans plus such Revolving Lender’s Revolving Commitment Percentage of outstanding Swingline Loans plus such Revolving Lender’s Revolving Commitment Percentage of outstanding LOC Obligations shall not exceed such Revolving Lender’s Revolving Commitment and (Bii) with regard to the Revolving Lenders collectively, the sum of the aggregate outstanding principal amount of outstanding Revolving Loans PLUS plus the aggregate principal amount of outstanding Swingline Loans plus the aggregate principal amount of outstanding LOC Obligations PLUS Swingline Loans shall not exceed the Revolving Committed AmountAmount then in effect. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Alternate Base Rate Loans or Eurodollar LIBOR Rate Loans, or a combination thereof, as the Borrower may request; PROVIDED, HOWEVER, that no more than 15 Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof; provided, however, the Revolving Loans made on the Closing Date or any of the three (3) Business Days following the Closing Date, may only consist of Alternate Base Rate Loans unless the Borrower delivers a funding indemnity letter, substantially in the form of Exhibit 2.1(a), reasonably acceptable to the Administrative Agent on or before the Closing Date, in which case LIBOR Rate Loans are available to the Borrower. LIBOR Rate Loans shall be made by each Revolving Lender at its LIBOR Lending Office and Alternate Base Rate Loans at its Domestic Lending Office.
Appears in 1 contract
Sources: Credit Agreement (Mednax, Inc.)
Revolving Commitment. Subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth herein, each Lender severally agrees to make available to the Borrower such Lender's ’s Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("“REVOLVING LOANS"”) from time to time from the Closing Date until the Maturity Date, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDEDprovided, HOWEVER, that (i) with regard to the sum Lenders collectively, the amount of the aggregate Revolving Obligations outstanding principal amount of Revolving Loans shall not exceed ONE HUNDRED MILLION DOLLARS ($100,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.4, the "REVOLVING COMMITTED AMOUNT")Revolving Committed Amount; PROVIDED, FURTHER, (Aii) with regard to each Lender individually, such Lender's outstanding ’s Revolving Commitment Percentage of the sum of the Revolving Loans PLUS LOC Obligations outstanding PLUS Swingline Loans outstanding shall not exceed such Lender's ’s Revolving Commitment Percentage of the Revolving Committed Amount, and (B) the sum of the aggregate outstanding principal amount of Revolving Loans PLUS LOC Obligations PLUS Swingline Loans shall not exceed the Revolving Committed Amount. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Base Rate Loans or Eurodollar Loans, or a combination thereof, as the Borrower may request; PROVIDED, HOWEVER, that no more than 15 ten Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof.
Appears in 1 contract
Revolving Commitment. Subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth herein, each Tranche B Lender severally agrees to make available to the Borrower such Tranche B Lender's Tranche B Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANSTranche B Revolving Loans") from time to time from the Closing Effective Date until the Maturity Termination Date, or such earlier date as the Tranche B Revolving Commitments shall have been terminated as provided hereinherein for the purposes hereinafter set forth; PROVIDEDprovided, HOWEVERhowever, that the sum of the aggregate outstanding principal amount of outstanding Tranche B Revolving Loans shall not at any time exceed ONE HUNDRED FIFTEEN MILLION DOLLARS ($100,000,00015,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.4, the "REVOLVING COMMITTED AMOUNTTranche B Revolving Committed Amount")) provided, however, the Tranche B Lenders' Tranche B Revolving Committed Amount shall not be available for borrowing unless all amounts under the Tranche A Revolving Loans have been borrowed in full and are outstanding; PROVIDEDprovided, FURTHERfurther, (A) with regard to each Tranche B Lender individually, that such Tranche B Lender's outstanding Tranche B Revolving Loans shall not at any time exceed such Tranche B Lender's Tranche B Revolving Commitment Percentage of the Revolving Committed Amount, and (B) the sum of the aggregate outstanding principal amount of Revolving Loans PLUS LOC Obligations PLUS Swingline Loans shall not exceed the Tranche B Revolving Committed Amount. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Tranche B Revolving Loans may consist of Base Rate Loans or Eurodollar Loans, or a combination thereof, as the Borrower may request, and may be repaid and reborrowed in accordance with the provisions hereof; PROVIDEDprovided, HOWEVERhowever, that the Tranche B Revolving Loans outstanding at any time shall consist of no more than 15 four (4) separate Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for Loans. For purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions borrowings of Eurodollar Loans may, in accordance with the provisions hereof, be combined through extensions or conversions at the end of existing Interest Periods to constitute a single new Eurodollar Loan with a single the same Interest Period). Tranche B Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof.
Appears in 1 contract
Sources: Credit Agreement (Isg Resources Inc)
Revolving Commitment. Subject to Each of the Banks, severally and for itself alone, agrees, on the terms and conditions hereof and in reliance upon the representations and warranties set forth herein, each Lender severally agrees to make available loans (herein collectively called the "Committed Loans" and individually called a "Committed Loan") to the Borrower such Lender's Revolving Commitment Percentage of on a revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANS") basis from time to time from the Closing Date until the Maturity Date, or Termination Date in such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDED, HOWEVER, that the sum Bank's Percentage of the aggregate outstanding principal amount of Revolving such Committed Loans shall not exceed ONE HUNDRED MILLION DOLLARS ($100,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.4, the "REVOLVING COMMITTED AMOUNT"); PROVIDED, FURTHER, (A) with regard to each Lender individually, such Lender's outstanding Revolving Loans shall not exceed such Lender's Revolving Commitment Percentage of the Revolving Committed Amount, and (B) the sum of the aggregate outstanding principal amount of Revolving Loans PLUS LOC Obligations PLUS Swingline Loans shall not exceed the Revolving Committed Amount. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Base Rate Loans or Eurodollar Loans, or a combination thereof, as the Borrower may request; PROVIDED, HOWEVER, that no more than 15 Eurodollar request from all Banks. The aggregate principal amount of the Committed Loans which any Bank shall be committed to have outstanding to the Borrower shall not at any one time exceed the amount set opposite such Bank's name on Schedule CHAR_1\F:\DOCS\KAM\BANKING\218148_8 28
1.1- A. The foregoing commitment of each Bank is herein called its "Revolving Commitment" and for all Banks the "Revolving Commitments." The aggregate principal amount of the Committed Loans which all Banks shall be committed to have outstanding hereunder to the Borrower, together with the aggregate principal amount of all Bid Loans outstanding under Section 2.3, Swingline Loans outstanding under Section 2.10, and the Borrower's aggregate outstanding commercial paper shall not at any one time exceed $1,400,000,000 (it being understood thator such reduced amount as may be fixed pursuant to Sections 4.1, for purposes hereof4.9 and 12.2). Notwithstanding any terms or provisions of this Section 2.1 or any other Section of this Agreement to the contrary, Eurodollar Loans with different Interest Periods until the BLHC Debt has been repaid in full and the commitments of the lenders under the BLHC Credit Agreement have been irrevocably terminated, $400,000,000 of the aggregate Revolving Commitments shall be considered as separate Eurodollar Loans, even if they begin on unavailable to the same date, although borrowings, extensions and conversions may, Borrower for any purpose other than for the repayment in accordance with full of the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereofBLHC Debt.
Appears in 1 contract
Sources: Credit Agreement (Conseco Inc Et Al)
Revolving Commitment. Subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth herein, each Lender severally agrees to make available to the Borrower such Lender's Revolving ’s Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANS"“Revolving Loans”) from time to time from the Closing Date until the Maturity Date, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDEDprovided, HOWEVERhowever, that the sum of the aggregate outstanding principal amount of Revolving Loans shall not exceed ONE HUNDRED SEVENTY-FIVE MILLION DOLLARS ($100,000,00075,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.4, the "REVOLVING COMMITTED AMOUNT"“Revolving Committed Amount”); PROVIDEDprovided, FURTHERfurther, (A) with regard to each Lender individually, such Lender's ’s outstanding Revolving Loans shall not exceed such Lender's Revolving ’s Commitment Percentage of the Revolving Committed Amount, and (B) the sum of the aggregate outstanding principal amount of Revolving Loans PLUS plus LOC Obligations PLUS plus Swingline Loans shall not exceed the Revolving Committed Amount. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Base Rate Loans or Eurodollar Loans, or a combination thereof, as the Borrower may request; PROVIDEDprovided, HOWEVERhowever, that no more than 15 6 Eurodollar Loans which are Revolving Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof.
Appears in 1 contract
Revolving Commitment. Subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth herein, each Lender severally agrees to make available to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANS"“Revolving Loans”) up to such Lender’s Revolving Commitment from time to time from the Closing Date until the Maturity Termination Date, or such earlier date as the Revolving Commitments shall have been terminated as provided hereinherein for the purposes hereinafter set forth; PROVIDEDprovided, HOWEVERhowever, that the sum of the aggregate outstanding principal amount of outstanding Revolving Loans shall not exceed ONE FIVE HUNDRED MILLION DOLLARS ($100,000,000500,000,000.00) (as such aggregate maximum amount may be reduced or increased from time to time as provided in Section 2.2 or Section 3.4, the "REVOLVING COMMITTED AMOUNT"“Revolving Committed Amount”); PROVIDEDprovided, FURTHERfurther, (Ai) with regard to each Lender individually, the aggregate amount of such Lender's ’s outstanding Revolving Loans shall not exceed such Lender's ’s Revolving Commitment Percentage of the Revolving Committed AmountCommitment, and (Bii) with regard to the sum of Lenders collectively, the aggregate outstanding principal amount of outstanding Revolving Loans PLUS LOC Obligations PLUS Swingline Loans shall not at any time exceed the Revolving Committed Amount. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Base Rate Loans or Eurodollar Loans, or a combination thereof, as the Borrower may request, and may be repaid and reborrowed in accordance with the provisions hereof; PROVIDEDprovided, HOWEVERhowever, that no more than 15 borrowings of five (5) Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for time. For purposes hereof, borrowings of Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new borrowing of Eurodollar Loan Loans with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof. Notwithstanding the foregoing, the Borrower may not request any Loans hereunder while a Change of Control Standstill Period shall be in effect pursuant to Section 3.4(e) hereof.
Appears in 1 contract
Revolving Commitment. Subject During the Commitment Period, subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth hereinhereof, each Revolving Lender severally agrees to make available to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars and in Foreign Currencies ("REVOLVING LOANS"the “Revolving Loans”) to the Borrowers from time to time from in an aggregate principal Dollar Amount (determined as of the Closing Date until most recent Revaluation Date) equal to its Revolving Commitment for the Maturity Datepurposes hereinafter set forth; provided, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDED, HOWEVERhowever, that (i) with regard to each Revolving Lender individually, the sum of the aggregate principal Dollar Amount of such Revolving Lender’s outstanding principal amount of Revolving Loans plus such Revolving Lender’s Revolving Commitment Percentage of outstanding Swingline Loans plus such Revolving Lender’s Revolving Commitment Percentage of LOC Obligations shall not exceed ONE HUNDRED MILLION DOLLARS such Revolving Lender’s Revolving Commitment and ($100,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.4, the "REVOLVING COMMITTED AMOUNT"); PROVIDED, FURTHER, (Aii) with regard to each Lender individually, such Lender's outstanding Revolving Loans shall not exceed such Lender's Revolving Commitment Percentage of the Revolving Committed AmountLenders collectively, and (B) the sum of the aggregate principal Dollar Amount (determined as of the most recent Revaluation Date) of outstanding principal amount of Revolving Loans PLUS plus outstanding Swingline Loans plus outstanding LOC Obligations PLUS Swingline Loans shall not exceed the Revolving Committed AmountAmount then in effect. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Alternate Base Rate Loans or Eurodollar LIBOR Rate Loans, or a combination thereof, as the Borrower Company may request; PROVIDED, HOWEVER, that no more than 15 Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof; provided, however, Revolving Loans made on the Closing Date or any of the three Business Days following the Closing Date may only consist of Alternate Base Rate Loans unless the Company delivers a Funding Indemnity Letter to the Administrative Agent at least three Business Days (with respect to Revolving Loans denominated in Dollars) or four Business Days (with respect to Revolving Loans denominated in Foreign Currencies) prior to the Closing Date. Revolving Loans that are Foreign Currency Loans shall consist only of LIBOR Rate Loans.
Appears in 1 contract
Sources: Credit Agreement (Lionbridge Technologies Inc /De/)
Revolving Commitment. Subject During the Commitment Period, subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth hereinhereof, each Revolving Lender severally severally, but not jointly, agrees to make available revolving credit loans in Dollars (“Revolving Loans”) to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANS") from time to time from the Closing Date until the Maturity Date, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDED, HOWEVER, that the sum of the in an aggregate outstanding principal amount of Revolving Loans shall not exceed ONE HUNDRED up to FIFTEEN MILLION DOLLARS ($100,000,00015,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.42.6, the "REVOLVING COMMITTED AMOUNT"“Revolving Committed Amount”) for the purposes hereinafter set forth (such facility, the “Revolving Facility”); PROVIDEDprovided, FURTHERhowever, that (Ai) with regard to each Revolving Lender individually, the sum of such Revolving Lender's outstanding Revolving Loans shall not exceed such Lender's ’s Revolving Commitment Percentage of the aggregate principal amount of outstanding Revolving Committed Amount, Loans plus such Revolving Lender’s Revolving Commitment Percentage of outstanding Swingline Loans plus such Revolving Lender’s Revolving Commitment Percentage of outstanding LOC Obligations shall not exceed such Revolving Lender’s Revolving Commitment and (Bii) with regard to the Revolving Lenders collectively, the sum of the aggregate outstanding principal amount of outstanding Revolving Loans PLUS plus outstanding Swingline Loans plus outstanding LOC Obligations PLUS Swingline Loans shall not exceed the Revolving Committed AmountAmount then in effect. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Alternate Base Rate Loans or Eurodollar LIBOR Rate Loans, or a combination thereof, as the Borrower may request; PROVIDED, HOWEVER, that no more than 15 Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof. LIBOR Rate Loans shall be made by each Revolving Lender at its LIBOR Lending Office and Alternate Base Rate Loans at its Domestic Lending Office.
Appears in 1 contract
Sources: Credit Agreement (Fluent, Inc.)
Revolving Commitment. (a) Subject to the terms and conditions hereof and in reliance upon hereof, the representations and warranties set forth herein, each Lender severally Bank agrees to make available revolving credit loans to the Borrower such Lender's (the "Revolving Commitment Percentage Credit Loans") and issue Letters of revolving credit loans requested by Credit for the account of the Borrower in Dollars ("REVOLVING LOANS") from time to time from the Closing Date until the Maturity Date, or such earlier date as during the Revolving Commitments shall have been terminated as provided hereinCommitment Period; PROVIDEDprovided, HOWEVERthat, that the sum after giving immediate effect to such Revolving Credit Loan(s) and/or Letter(s) of the aggregate outstanding principal amount of Revolving Loans shall not exceed ONE HUNDRED MILLION DOLLARS ($100,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.4, the "REVOLVING COMMITTED AMOUNT"); PROVIDED, FURTHERCredit, (Ai) with regard to each Lender individually, such Lender's outstanding Revolving Loans shall not exceed such Lender's Revolving Commitment Percentage of the Revolving Committed Amount, and (B) the sum of the aggregate outstanding principal amount of Revolving Loans PLUS LOC Obligations PLUS Swingline Loans Credit Exposure shall not exceed the Revolving Committed Amount. The initial advance lesser of (x) the Revolving Loans on Commitment or (y) the Closing Date Borrowing Base and (ii) the LC Exposure shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Base Rate Loans or Eurodollar Loans, or a combination thereofnot exceed the LC Sublimit, as such amounts may be reduced as provided in this Agreement. During the Revolving Commitment Period the Borrower may request; PROVIDEDuse the Revolving Commitment (i) for obtaining Revolving Credit Loans by borrowing, HOWEVERprepaying in whole or in part and reborrowing on a revolving basis, that no more than 15 Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, all in accordance with the provisions hereofterms and conditions hereof and (ii) for the issuance of Letters of Credit by the issuance, be combined at the end of existing Interest Periods to constitute repayment and/or termination in whole or in part and reissuance on a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed revolving basis, all in accordance with the provisions terms and conditions hereof. Within the limits as set forth above in this Section 2.1(a), and subject to the other terms and conditions hereof, the Borrower may borrow under this Section 2. 1(a), prepay under Section 2.10(a), and reborrow under this Section 2.1(a). Revolving Credit Loans may be Fluctuating Rate Loans or LIBOR Loans, as further provided herein.
(b) The Borrower shall repay to the Bank on the Maturity Date the aggregate principal amount of all Revolving Credit Loans outstanding on such date
Appears in 1 contract
Revolving Commitment. Subject During the Commitment Period, subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth hereinhereof, each Revolving Lender severally severally, but not jointly, agrees to make available revolving credit loans ("Revolving Loans") to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANS") from time to time from the Closing Date until the Maturity Date, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDED, HOWEVER, that the sum of the in an aggregate outstanding principal amount of Revolving Loans shall not exceed ONE HUNDRED up to THIRTY MILLION DOLLARS ($100,000,00030,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.42.6, the "REVOLVING COMMITTED AMOUNTRevolving Committed Amount")) for the purposes hereinafter set forth; PROVIDEDprovided, FURTHERhowever, that (Ai) with regard to each Revolving Lender individually, the sum of such Lender's outstanding Revolving Loans shall not exceed such Lender's Revolving Commitment Percentage of the aggregate principal amount of outstanding Revolving Committed Amount, Loans plus the aggregate principal amount of outstanding Swingline Loans plus LOC Obligations shall not exceed such Revolving Lender's Revolving Commitment and (Bii) with regard to the Revolving Lenders collectively, the sum of the aggregate outstanding principal amount of outstanding Revolving Loans PLUS plus the aggregate principal amount of outstanding Swingline Loans plus LOC Obligations PLUS Swingline Loans shall not exceed the Revolving Committed Amount. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Alternate Base Rate Loans or Eurodollar LIBOR Rate Loans, or a combination thereof, as the Borrower may request; PROVIDED, HOWEVER, that no more than 15 Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof; provided, however, Revolving Loans made on the Closing Date or on any of the three (3) Business Days following the Closing Date may only consist of Alternate Base Rate Loans unless the Borrower delivers a funding indemnity letter to the Administrative Agent at least three (3) Business Days prior to the Closing Date. LIBOR Rate Loans shall be made by each Revolving Lender at its LIBOR Lending Office and Alternate Base Rate Loans at its Domestic Lending Office.
Appears in 1 contract
Revolving Commitment. Subject During the Commitment Period, subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth hereinhereof, each U.S. Revolving Lender severally severally, but not jointly, agrees to make available to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower (“U.S. Revolving Loans”) in Dollars ("REVOLVING LOANS") to the Domestic Borrowers from time to time from the Closing Date until the Maturity Date, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDED, HOWEVER, that the sum of the in an aggregate outstanding principal amount of Revolving Loans shall not exceed ONE HUNDRED MILLION up to EIGHTY Million DOLLARS ($100,000,00080,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.42.6, the "REVOLVING COMMITTED AMOUNT"“U.S. Revolving Committed Amount”) for the purposes hereinafter set forth (such facility, the “U.S. Revolving Facility”); PROVIDEDprovided, FURTHERhowever, that after giving effect to such U.S. Revolving Loans, (A) with regard to each U.S. Revolving Lender individually, such U.S. Lender's outstanding U.S. Revolving Loans Credit Exposure shall not exceed such U.S. Revolving Lender's U.S. Revolving Commitment Percentage of the Revolving Committed AmountCommitment, and (B) with regard to the sum of U.S. Revolving Lenders collectively, the aggregate U.S. Revolving Credit Exposure outstanding principal amount of shall not exceed the U.S. Revolving Loans PLUS LOC Obligations PLUS Swingline Loans Committed Amount then in effect and (C) the Aggregate U.S. Revolving Credit Exposure shall not exceed the Revolving Committed Availability Amount. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, U.S. Revolving Loans may consist of Alternate Base Rate Loans or Eurodollar LIBOR Rate Loans, or a combination thereof, as the Borrower Company may request; PROVIDED. U.S. Revolving Loans made on the Closing Date or any of the three (3) Business Days following the Closing Date, HOWEVERmay only consist of Alternate Base Rate Loans unless the Domestic Borrowers deliver a funding indemnity letter, that no more substantially in the form of Exhibit 2.1(a), reasonably acceptable to the Administrative Agent not less than 15 Eurodollar three (3) Business Days prior to the Closing Date. LIBOR Rate Loans shall be outstanding hereunder made by each U.S. Revolving Lender at any time (it being understood that, for purposes hereof, Eurodollar its LIBOR Lending Office and Alternate Base Rate Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereofits Domestic Lending Office.
Appears in 1 contract
Revolving Commitment. Subject On the date on which any Drawing is requested (whether or not in an Optional Currency) under the Revolving Facility, the Facility Agent shall determine whether the aggregate of:
(a) the amount in Euro of that Drawing or, if denominated in an Optional Currency, the Euro Equivalent (determined as at or about 11:00 am 3 Business Days prior to the relevant Drawing Date) of that Drawing; and
(b) the Euro Equivalent (determined as at or about 11:00 am 3 Business Days prior to each respective original Drawing Date (the “original Drawing Date” in respect of those Letters of Credit and Lender Guarantees deemed issued on the terms and conditions hereof and in reliance upon the representations and warranties set forth herein, each Lender severally agrees to make available to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANS") from time to time from the Closing Date until the Maturity Date, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDED, HOWEVER, that the sum of the aggregate outstanding principal amount Bonding Side Letters being the date on which the respective Letters of Revolving Loans shall not exceed ONE HUNDRED MILLION DOLLARS ($100,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.4, the "REVOLVING COMMITTED AMOUNT"); PROVIDED, FURTHER, (A) with regard to each Credit or Lender individually, such Lender's outstanding Revolving Loans shall not exceed such Lender's Revolving Commitment Percentage of the Revolving Committed Amount, and (B) the sum of the aggregate outstanding principal amount of Revolving Loans PLUS LOC Obligations PLUS Swingline Loans shall not exceed the Revolving Committed Amount. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Base Rate Loans or Eurodollar Loans, or a combination thereof, as the Borrower may request; PROVIDED, HOWEVER, that no more than 15 Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, Guarantees were deemed issued in accordance with the provisions hereofterms of the relevant Bonding Side Letter)) of each existing Revolving Advance , denominated in an Optional Currency which will be combined outstanding on the relevant Drawing Date; and
(c) each existing Revolving Advance, denominated in Euro which will be outstanding on the relevant Drawing Date; and
(d) subject to Clause 11.7 (Revaluation of Letters of Credit), the Euro Equivalent (determined as at or about 11:00 am 2 Business Days prior to each respective original Drawing Date) of the total Contingent Liability of all the Lenders under Letters of Credit and Lender Guarantees already issued under the Revolving Facility and denominated in Optional Currencies, which will be outstanding on the relevant Drawing Date; and
(e) the total Contingent Liability of all the Lenders under Letters of Credit and Lender Guarantees already issued under the Revolving Facility and denominated in Euro which will be outstanding on the relevant Drawing Date, exceeds the total amount of the Revolving Commitments as applicable of the Lenders, as reduced by the Ancillary Limits in the case of the Revolving Facility. In the event that the Commitments of the Lenders are so exceeded, at the end election of existing Interest Periods Bidco either (i) the requested Revolving Advance, Letter of Credit or Lender Guarantee shall be reduced by the amount by which the total Revolving Commitments of the Lenders are so exceeded or (ii) Bidco may, in respect of a Letter of Credit or Lender Guarantee, pay or procure the payment to constitute the credit of a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may Cash Collateral Account of an amount equal to the amount by which the Lenders’ Commitments are so exceeded in which case the requested Letter of Credit or Lender Guarantee shall be repaid and reborrowed issued in accordance with the provisions hereoffull amount.
Appears in 1 contract
Sources: Loan Agreement (Elster Group SE)
Revolving Commitment. Subject During the Commitment Period, subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth hereinhereof, each Revolving Lender severally agrees to make available revolving credit loans in Dollars and Foreign Currencies (“Revolving Loans”) to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANS") from time to time from the Closing Date until the Maturity Date, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDED, HOWEVER, that the sum in an aggregate principal Dollar Amount of the aggregate outstanding principal amount of Revolving Loans shall not exceed ONE up to THREE HUNDRED MILLION DOLLARS ($100,000,000300,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in this Section 3.42.09, the "REVOLVING COMMITTED AMOUNT")“Aggregate Revolving Committed Amount”) for the purposes hereinafter set forth; PROVIDEDprovided, FURTHERhowever, that (Ai) the aggregate principal Dollar Amount (determined as of the most recent Revaluation Date) of Revolving Loans outstanding at any time which are denominated in Foreign Currencies shall not exceed the Multicurrency Committed Amount at any time; (ii) with regard to each Revolving Lender individually, the aggregate principal Dollar Amount (determined as of the most recent Revaluation Date) of such Revolving Lender's ’s Revolving Commitment Percentage of outstanding Revolving Loans plus such Revolving Lender’s Revolving Commitment Percentage of outstanding Swingline Loans plus such Revolving Lender’s Revolving Commitment Percentage of LOC Obligations shall not exceed such Revolving Lender's Revolving Commitment Percentage of the ’s Revolving Committed Amount, ; and (Biii) with regard to the sum Revolving Lenders collectively, the aggregate principal Dollar Amount (determined as of the aggregate most recent Revaluation Date) of the outstanding principal amount of Revolving Loans PLUS plus outstanding Swingline Loans plus outstanding LOC Obligations PLUS Swingline Loans shall not exceed the Aggregate Revolving Committed AmountAmount then in effect. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Alternate Base Rate Loans or Eurodollar LIBOR Rate Loans, or a combination thereof, as the Borrower may request; PROVIDED, HOWEVER, that no more than 15 Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof; provided, however, (A) Revolving Loans denominated in Foreign Currencies shall consist solely of LIBOR Rate Loans and (B) Revolving Loans made on the Closing Date or on any of the three (3) Business Days following the Closing Date may only consist of Alternate Base Rate Loans unless the Borrower executes a funding indemnity letter in form and substance satisfactory to the Administrative Agent. LIBOR Rate Loans shall be made by each Revolving Lender at its LIBOR Lending Office and Alternate Base Rate Loans at its Domestic Lending Office.
Appears in 1 contract
Sources: Credit Agreement (Tredegar Corp)
Revolving Commitment. Subject to the terms and --------------- -------------------- conditions hereof and in reliance upon the representations and warranties set forth herein, each Lender severally agrees to make available to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANSRevolving Loans") from time to time from --------------- the Closing Date until the Maturity Termination Date, or such earlier date as the Revolving Commitments shall have been terminated as provided hereinherein for the purposes hereinafter set forth; PROVIDEDprovided, HOWEVERhowever, that the sum of the aggregate outstanding -------- ------- principal amount of outstanding Revolving Loans plus the aggregate amount of ---- outstanding LOC Obligations shall not at any time exceed ONE HUNDRED FORTY MILLION DOLLARS ($100,000,000140,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.4, the "REVOLVING COMMITTED AMOUNTRevolving Committed Amount"); PROVIDED-------------------------- provided, FURTHERfurther, (A) with regard to each Lender individually, that such Lender's -------- ------- outstanding Revolving Loans plus Participation Interests in outstanding LOC ---- Obligations shall not at any time exceed such Lender's Revolving Commitment Percentage of the Revolving Committed Amount, and (B) the sum of the aggregate outstanding principal amount of Revolving Loans PLUS LOC Obligations PLUS Swingline Loans shall not exceed the Revolving Committed Amount. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Base Rate Loans or Eurodollar Loans, or a combination thereof, as the Borrower may request, and may be repaid and reborrowed in accordance with the provisions hereof; PROVIDEDprovided, HOWEVERhowever, that the Revolving Loans outstanding at any time -------- ------- shall consist of no more than 15 five (5) separate Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for Loans. For purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions borrowings of Eurodollar Loans may, in accordance with the provisions hereof, be combined through extensions or conversions at the end of existing Interest Periods to constitute a single new Eurodollar Loan with a single the same Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof.
Appears in 1 contract
Revolving Commitment. Subject During the Commitment Period, subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth hereinhereof, each Lender severally severally, but not jointly, agrees to make available revolving credit loans ("Revolving Loans") to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANS") from time to time from the Closing Date until the Maturity Date, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDED, HOWEVER, that the sum of the in an aggregate outstanding principal amount of Revolving Loans shall not exceed up to ONE HUNDRED MILLION Million DOLLARS ($100,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.42.5, the "REVOLVING COMMITTED AMOUNTAggregate Revolving Committed Amount")) for the purposes hereinafter set forth; PROVIDEDprovided, FURTHERhowever, that (Ai) with regard to each Lender individually, the sum of such Lender's Revolving Commitment Percentage of outstanding Revolving Loans plus such Lender's Revolving Commitment Percentage of outstanding Swingline Loans plus such Lender's LOC Commitment Percentage of LOC Obligations shall not exceed such Lender's Revolving Commitment Percentage of the Revolving Committed Amount, Amount and (Bii) with regard to the Lenders collectively, the sum of the aggregate outstanding principal amount of Revolving Loans PLUS plus outstanding Swingline Loans plus LOC Obligations PLUS Swingline Loans shall not exceed the Aggregate Revolving Committed Amount. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Alternate Base Rate Loans or Eurodollar LIBOR Rate Loans, or a combination thereof, as the Borrower may request; PROVIDED, HOWEVER, that no more than 15 Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof; provided, however, Revolving Loans made on any of three Business Days following the Closing Date may only consist of Alternate Base Rate Loans. LIBOR Rate Loans shall be made by each Lender at its LIBOR Lending Office and Alternate Base Rate Loans at its Domestic Lending Office.
Appears in 1 contract
Sources: Credit Agreement (Neighborcare Inc)
Revolving Commitment. Subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth hereinof this Agreement, each Lender severally agrees to make available one or more Revolving Loans to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower Borrowers in Dollars ("REVOLVING LOANS") or in one or more Alternative Currencies from time to time, on any Business Day during the Availability Period, in an amount not to exceed at any time from outstanding the Closing Date amount of such Lender’s Commitment which, subject to the other terms and conditions of this Agreement, Borrowers may borrow under this Section 2.01, prepay under Section 2.05, and reborrow under this Section 2.01 (the “Revolving Facility”). Lenders’ commitments to lend under the Revolving Facility shall expire at 1:00 p.m. on the last Business Day preceding the Termination Date, provided that, Borrowers’ obligations and Lenders’ rights under the Loan Documents shall continue in full force and effect until the Maturity Date, or such earlier date as Obligation is paid in full. Revolving Loans under the Revolving Commitments shall have been terminated as provided herein; PROVIDED, HOWEVER, that Facility are subject to the sum following conditions:
(i) each Revolving Borrowing (unless the remaining Available Revolving Amount is less) must be in an amount not less than $500,000 or a whole multiple of $100,000 (if a Base Rate Loan) or $500,000 or a whole multiple of $100,000 (if a Eurocurrency Rate Loan) in excess thereof;
(ii) no Revolving Borrowing may exceed the aggregate outstanding principal amount of Available Revolving Amount;
(iii) all Revolving Loans made to Parent shall be in Dollars; and
(iv) after giving effect to any Revolving Loan, (1) the Outstanding Amount of all Revolving Loans, L/C Obligations, and Swing Line Loans may not exceed the Revolving Committed Amount, (2) the Total Outstandings shall not exceed ONE HUNDRED MILLION DOLLARS ($100,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.4, the "REVOLVING COMMITTED AMOUNT"); PROVIDED, FURTHERAggregate Commitments, (A3) with regard to each Lender individuallythe aggregate Outstanding Amount of the Committed Loans of any Lender, plus such Lender's outstanding Revolving ’s Applicable Percentage of the Outstanding Amount of all L/C Obligations, plus such Lender’s Applicable Percentage of the Outstanding Amount of all Swing Line Loans shall not exceed such Lender's Revolving Commitment Percentage of the Revolving Committed Amount’s Commitment, and (B4) the sum aggregate Outstanding Amounts of all Revolving Loans made to UK Borrower shall not exceed its Designated Sublimit, (5) the aggregate outstanding principal amount Outstanding Amounts of all Revolving Loans PLUS LOC Obligations PLUS Swingline made to Parent shall not exceed its Designated Sublimit, (6) the aggregate Outstanding Amount of all Revolving Loans denominated in Alternative Currencies shall not exceed the Revolving Committed Amount. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Base Rate Loans or Eurodollar Loans, or a combination thereof, as the Borrower may request; PROVIDED, HOWEVER, that no more than 15 Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereofAlternative Currency Sublimit.
Appears in 1 contract
Revolving Commitment. Subject During the Commitment Period, subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth hereinhereof, each Revolving Lender severally severally, but not jointly, agrees to make available revolving credit loans in Dollars (“Revolving Loans”) to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANS") from time to time from the Closing Date until the Maturity Date, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDED, HOWEVER, that the sum of the in an aggregate outstanding principal amount of Revolving Loans shall not exceed ONE HUNDRED up to FORTY MILLION DOLLARS ($100,000,00040,000,000) (as increased from time to time as provided in Section 2.22 and as such aggregate maximum amount may be reduced from time to time as provided in Section 3.42.6, the "REVOLVING COMMITTED AMOUNT"“Revolving Committed Amount”) for the purposes hereinafter set forth (such facility, the “Revolving Facility”); PROVIDEDprovided, FURTHERhowever, that (Ai) with regard to each Revolving Lender individually, the sum of such Revolving Lender's outstanding Revolving Loans shall not exceed such Lender's ’s Revolving Commitment Percentage of the aggregate principal amount of outstanding Revolving Committed Amount, Loans plus such Revolving Lender’s Revolving Commitment Percentage of outstanding Swingline Loans plus such Revolving Lender’s Revolving Commitment Percentage of outstanding LOC Obligations shall not exceed such Revolving Lender’s Revolving Commitment and (Bii) with regard to the Revolving Lenders collectively, the sum of the aggregate outstanding principal amount of outstanding Revolving Loans PLUS plus outstanding Swingline Loans plus outstanding LOC Obligations PLUS Swingline Loans shall not exceed the Revolving Committed AmountAmount then in effect. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Alternate Base Rate Loans or Eurodollar LIBOR Rate Loans, or a combination thereof, as the Borrower may request; PROVIDED, HOWEVER, that no more than 15 Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof; provided, however, the Revolving Loans made on the Closing Date may only consist of Alternate Base Rate Loans unless the Borrower delivers a funding indemnity letter, substantially in the form of Exhibit 2.1(a), reasonably acceptable to the Administrative Agent not less than one (1) Business Day prior to the Closing Date. LIBOR Rate Loans shall be made by each Revolving Lender at its LIBOR Lending Office and Alternate Base Rate Loans at its Domestic Lending Office.
Appears in 1 contract
Revolving Commitment. Subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth herein, each Lender severally agrees to make available to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANSRevolving Loans") from time to time from the Closing Effective Date until the Maturity Date, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDEDprovided, HOWEVERhowever, that the sum of the aggregate outstanding principal amount of Revolving Loans shall not exceed ONE HUNDRED FIFTY MILLION DOLLARS ($100,000,00050,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.4, the "REVOLVING COMMITTED AMOUNTRevolving Committed Amount"); PROVIDEDprovided, FURTHERfurther, (A) with regard to each Lender individually, such Lender's outstanding Revolving Loans shall not exceed such Lender's Revolving Commitment Percentage of the Revolving Committed Amount, and (B) the sum of the aggregate outstanding principal amount of Revolving Loans PLUS plus LOC Obligations PLUS plus Swingline Loans shall not exceed the Revolving Committed Amount. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Base Rate Loans or Eurodollar Loans, or a combination thereof, as the Borrower may request; PROVIDEDprovided, HOWEVERhowever, that no more than 15 10 Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof.
Appears in 1 contract
Revolving Commitment. Subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth herein, each Lender severally agrees to make available to the Borrower such Lender's ’s Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANS"“Revolving Loans”) from time to time from the Closing Date until the Maturity Date, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDEDprovided, HOWEVERhowever, that the sum of the aggregate outstanding principal amount of Revolving Loans shall not exceed ONE HUNDRED TWENTY FIVE MILLION DOLLARS ($100,000,00025,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.4, the "REVOLVING COMMITTED AMOUNT"“Revolving Committed Amount”); PROVIDEDprovided, FURTHERfurther, (A) with regard to each Lender individually, such Lender's ’s outstanding Revolving Loans shall not exceed such Lender's ’s Revolving Commitment Percentage of the Revolving Committed Amount, and (B) the sum of the aggregate outstanding principal amount of Revolving Loans PLUS plus LOC Obligations PLUS plus Swingline Loans shall not exceed the Revolving Committed Amount. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Base Rate Loans or Eurodollar LIBOR Loans, or a combination thereof, as the Borrower may request; PROVIDEDprovided, HOWEVERhowever, that no more than 15 Eurodollar ten (10) LIBOR Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar LIBOR Loans with different Interest Periods shall be considered as separate Eurodollar LIBOR Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar LIBOR Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof.
Appears in 1 contract
Sources: Credit Agreement (Healthtronics Surgical Services Inc)
Revolving Commitment. Subject During the Commitment Period, subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth hereinhereof, each Lender severally agrees to make available revolving credit loans ("REVOLVING LOANS") to the Borrower from time to time for the purposes hereinafter set forth; PROVIDED, HOWEVER, that (i) with regard to each Lender individually, the sum of such Lender's share of outstanding Revolving Loans PLUS such Lender's Revolving Commitment Percentage of revolving credit loans requested by Swingline Loans PLUS such Lender's LOC Commitment Percentage of LOC Obligations shall not exceed such Lender's Revolving Commitment Percentage of the Borrower in Dollars aggregate Revolving Committed Amount, and ("REVOLVING LOANS"ii) from time with regard to time from the Closing Date until the Maturity DateLenders collectively, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDED, HOWEVER, that the sum of the aggregate outstanding principal amount of outstanding Revolving Loans PLUS Swingline Loans PLUS LOC Obligations shall not exceed the aggregate Revolving Committed Amount. For purposes hereof, the aggregate amount available hereunder shall be ONE HUNDRED SEVENTY-FIVE MILLION DOLLARS ($100,000,000175,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.42.6 or increased from time to time as provided in Section 2.20, the "REVOLVING COMMITTED AMOUNT"); PROVIDED, FURTHER, (A) with regard to each Lender individually, such Lender's outstanding Revolving Loans shall not exceed such Lender's Revolving Commitment Percentage of the Revolving Committed Amount, and (B) the sum of the aggregate outstanding principal amount of Revolving Loans PLUS LOC Obligations PLUS Swingline Loans shall not exceed the Revolving Committed Amount. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Alternate Base Rate Loans or Eurodollar LIBOR Rate Loans, or a combination thereof, as the Borrower may request; PROVIDED, HOWEVER, that no more than 15 Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof. LIBOR Rate Loans shall be made by each Lender at its LIBOR Lending Office and Alternate Base Rate Loans at its Domestic Lending Office.
Appears in 1 contract
Revolving Commitment. Subject During the Commitment Period, subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth hereinhereof, each Lender severally agrees to make available revolving credit loans ("Revolving Loans") to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANS") from time to time from for the Closing Date until the Maturity Datepurposes hereinafter set forth; provided, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDED, HOWEVERhowever, that the sum of the aggregate outstanding principal amount of Revolving Loans shall not exceed ONE HUNDRED MILLION DOLLARS ($100,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.4, the "REVOLVING COMMITTED AMOUNT"); PROVIDED, FURTHER, (Ai) with regard to each Lender individually, the sum of such Lender's share of outstanding Revolving Loans plus such Lender's Revolving Commitment Percentage of Swingline Loans plus such Lender's LOC Commitment Percentage of LOC Obligations shall not exceed such Lender's Revolving Commitment Percentage of the aggregate Revolving Committed Amount, and (Bii) with regard to the Lenders collectively, the sum of the aggregate outstanding principal amount of outstanding Revolving Loans PLUS plus Swingline Loans plus LOC Obligations PLUS Swingline Loans shall not exceed the Revolving Committed Amount. The initial advance For purposes hereof, the aggregate amount available hereunder shall be THREE HUNDRED MILLION DOLLARS ($300,000,000) (which amount shall be reduced to TWO HUNDRED MILLION DOLLARS ($200,000,000) with a corresponding reduction in each Lender's Commitment as set forth on Schedule 2.1
(a) upon the issuance of the Senior Notes, and as such aggregate maximum amount may be further reduced from time to time as provided in Section 2.5, the "Revolving Loans on the Closing Date shall consist solely of Base Rate LoansCommitted Amount"). Thereafter, Revolving Loans may consist of Alternate Base Rate Loans or Eurodollar LIBOR Rate Loans, or a combination thereof, as the Borrower may request; PROVIDED, HOWEVER, that no more than 15 Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof. LIBOR Rate Loans shall be made by each Lender at its LIBOR Lending Office and Alternate Base Rate Loans at its Domestic Lending Office.
Appears in 1 contract
Revolving Commitment. Subject During the Commitment Period, subject to -------------------- the terms and conditions hereof and in reliance upon the representations and warranties set forth hereinhereof, each Lender severally agrees to make available revolving loans (the "Revolving Loans") to the Borrower in the amount of such --------------- Lender's Revolving Commitment Percentage of revolving credit loans requested by such Revolving Loans for the Borrower in Dollars purposes hereinafter set forth; provided that ("REVOLVING LOANS"i) from time with regard to time from the Closing Date until the Maturity DateLenders -------- collectively, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDED, HOWEVER, that the sum of the aggregate outstanding principal amount of Revolving Loans Obligations at any time shall not exceed the lesser of (A) ONE HUNDRED TWELVE MILLION FIVE HUNDRED THOUSAND DOLLARS ($100,000,000112,500,000) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.4, the "REVOLVING COMMITTED AMOUNTAggregate Revolving Committed Amount"); PROVIDED) or (B) the ------------------------------------ Borrowing Base, FURTHER, and (Aii) with regard to each Lender individually, such Lender's outstanding Revolving Loans Commitment Percentage of Obligations at any time shall not exceed the lesser of (A) such Lender's Revolving Committed Amount or (B) such Lender's Revolving Commitment Percentage of the Borrowing Base; and provided further that, notwithstanding the foregoing, the Administrative Agent may make Revolving Loan advances in its discretion ("Discretionary Over-Advances") for --------------------------- and on behalf of the Lenders in an aggregate principal amount not to exceed the lesser of (A) five percent (5%) of the Borrowing Base or (B) $5 million, and a term of not more than thirty (30) days, even though (i) a Default or Event of Default then exists and has not been waived or cured, (ii) the other conditions to Extensions of Credit under Section 5.2 have not or cannot be satisfied, or (iii) after giving effect thereto, the Obligations then outstanding will be excess of the Borrowing Base (but not in excess of the Aggregate Revolving Committed Amount), if in the reasonable business judgment of the Administrative Agent, such advances are necessary or advisable in the protection or preservation of the collateral or in order to improve the likelihood of repayment of the Obligations hereunder (including financing working capital needs). The Administrative will give prompt notice to the Lenders of any Discretionary Over-Advances and the circumstances giving rise thereto, and (B) the sum Lenders will promptly reimburse the Administrative Agent for its ratable share of such advance. The right and ability of the aggregate outstanding principal amount of Revolving Loans PLUS LOC Obligations PLUS Swingline Loans shall not exceed the Revolving Committed Amount. The initial advance Administrative Agent to make Discretionary Over-Advances hereunder are subject to revocation by written action of the Revolving Loans on the Closing Date shall consist solely of Base Rate LoansRequired Lenders. Thereafter, Revolving Loans may consist of Base Rate Loans or Eurodollar Loans, or a combination thereof, as the Borrower may request; PROVIDED, HOWEVER, that no more than 15 Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof.
Appears in 1 contract
Sources: Credit Agreement (Friedmans Inc)
Revolving Commitment. Subject During the Commitment Period, subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth hereinhereof, each Lender severally agrees to make available revolving credit loans ("Revolving Loans") to the Borrower from time to time for the purposes hereinafter set forth; provided, however, that (i) with regard to each Lender individually, the sum of such Lender's share of outstanding Revolving Loans plus such Lender's Revolving Commitment Percentage of revolving credit loans requested by Swingline Loans plus such Lender's LOC Commitment Percentage of LOC Obligations shall not exceed such Lender's Revolving Commitment Percentage of the Borrower in Dollars lesser of ("REVOLVING LOANS"A) from time to time from the Closing Date until the Maturity Date, or such earlier date as aggregate Revolving Committed Amount and (B) the Revolving Commitments shall have been terminated as provided herein; PROVIDEDBorrowing Base, HOWEVERand (ii) with regard to the Lenders collectively, that the sum of the aggregate outstanding principal amount of outstanding Revolving Loans plus Swingline Loans plus LOC Obligations shall not exceed the lesser of (A) the Revolving Committed Amount then in effect, (B) the Revolving Borrowing Base, (C) the Revolving Cap, and (D) the Aggregate Committed Amount. For purposes hereof, the aggregate amount available hereunder shall be TWENTY-ONE HUNDRED MILLION Million DOLLARS ($100,000,00021,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.42.6, the "REVOLVING COMMITTED AMOUNT"); PROVIDED, FURTHER, (A) with regard to each Lender individually, such Lender's outstanding Revolving Loans shall not exceed such Lender's Revolving Commitment Percentage of the Revolving Committed Amount, and (B) the sum of the aggregate outstanding principal amount of Revolving Loans PLUS LOC Obligations PLUS Swingline Loans shall not exceed the Revolving Committed Amount"). The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Alternate Base Rate Loans or Eurodollar LIBOR Rate Loans, or a combination thereof, as the Borrower may request; PROVIDED, HOWEVER, that no more than 15 Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof.. LIBOR Rate Loans shall be made by each Lender at its LIBOR Lending Office and Alternate Base Rate Loans at its Domestic Lending Office. Subpart 3.5 Amendment to Section 2.2 Section 2.2 of the Existing Credit Agreement is amended and restated in its entirety to read as follows:
Appears in 1 contract
Sources: Fourth Amendment and Forbearance Agreement (BGF Industries Inc)
Revolving Commitment. Subject During the Commitment Period, subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth hereinhereof, each Revolving Lender severally severally, but not jointly, agrees to make available revolving credit loans (“Revolving Loans”) to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANS") from time to time from the Closing Date until the Maturity Date, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDED, HOWEVER, that the sum of the in an aggregate outstanding principal amount of Revolving Loans shall not exceed ONE up to TWO HUNDRED MILLION DOLLARS ($100,000,000200,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.42.6, the "REVOLVING COMMITTED AMOUNT")“Revolving Committed Amount”) for the purposes hereinafter set forth; PROVIDEDprovided, FURTHERhowever, that (Ai) with regard to each Revolving Lender individually, the sum of such Revolving Lender's ’s Revolving Commitment Percentage of outstanding Revolving Loans plus such Revolving Lender’s Revolving Commitment Percentage of outstanding Swingline Loans plus such Revolving Lender’s Revolving Commitment Percentage of outstanding LOC Obligations shall not exceed such Revolving Lender's ’s Revolving Commitment Percentage of and (ii) with regard to the Revolving Committed AmountLenders collectively, and (B) the sum of the aggregate outstanding principal amount of Revolving Loans PLUS plus outstanding Swingline Loans plus outstanding LOC Obligations PLUS Swingline Loans shall not exceed the Revolving Committed Amount. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Alternate Base Rate Loans or Eurodollar LIBOR Rate Loans, or a combination thereof, as the Borrower may request; PROVIDED, HOWEVER, that no more than 15 Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid or prepaid and reborrowed in accordance with the provisions hereof; provided, however, Revolving Loans made on the Closing Date or on any of the three (3) Business Days following the Closing Date may only consist of Alternate Base Rate Loans. LIBOR Rate Loans shall be made by each Revolving Lender at its LIBOR Lending Office and Alternate Base Rate Loans at its Domestic Lending Office.
Appears in 1 contract
Revolving Commitment. Subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth herein, each Lender severally agrees to make available to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANS"“Revolving Loans”) up to such ▇▇▇▇▇▇’s Revolving Commitment from time to time from the Closing Date until the Maturity Termination Date, or such earlier date as the Revolving Commitments shall have been terminated as provided hereinherein for the purposes hereinafter set forth; PROVIDEDprovided, HOWEVERhowever, that the sum of the aggregate outstanding principal amount of outstanding Revolving Loans shall not exceed ONE TWO BILLION TWO HUNDRED FIFTY MILLION DOLLARS ($100,000,0002,250,000,000.00) (as such aggregate maximum amount may be reduced or increased from time to time as provided in Section 3.4, the "REVOLVING COMMITTED AMOUNT"“Revolving Committed Amount”); PROVIDEDprovided, FURTHERfurther, (Ai) with regard to each Lender individually, the aggregate amount of such Lender's ’s outstanding Revolving Loans, pro rata share of Swingline Loans and pro rata share of L/C Obligations shall not exceed such Lender's ’s Revolving Commitment Percentage of the Revolving Committed AmountCommitment, and (Bii) with regard to the Lenders collectively, the sum of the aggregate outstanding principal amount of outstanding Revolving Loans PLUS LOC Obligations PLUS plus the aggregate principal amount of outstanding Swingline Loans plus the L/C Obligations outstanding shall not at any time exceed the Revolving Committed Amount. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Base Rate Loans or Eurodollar Term SOFR Loans, or a combination thereof, as the Borrower may request, and may be repaid and reborrowed in accordance with the provisions hereof; PROVIDEDprovided, HOWEVERhowever, that no more than 15 Eurodollar borrowings of fifteen (15) Term SOFR Loans shall be outstanding hereunder at any time (it being understood that, for time. For purposes hereof, Eurodollar borrowings of Term SOFR Loans with different Interest Periods shall be considered as separate Eurodollar Term SOFR Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan borrowing of Term SOFR Loans with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof. Notwithstanding the foregoing, the Borrower may not request any Loans hereunder while a Change of Control Standstill Period shall be in effect pursuant to Section 3.4(e) hereof.
Appears in 1 contract
Sources: Credit Agreement (Autozone Inc)
Revolving Commitment. Subject During the Commitment Period, -------------------- subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth hereinhereof, each Lender severally agrees to make available revolving credit loans ("Revolving Loans") to the --------------- Borrower from time to time for the purposes hereinafter set forth; provided, however, that (i) with regard to each Lender individually, -------- ------- the sum of such Lender's share of outstanding Revolving Loans plus such ---- Lender's LOC Commitment Percentage of LOC Obligations shall not exceed such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars aggregate Revolving Committed Amount, and ("REVOLVING LOANS"ii) from time with regard to time from the Closing Date until the Maturity DateLenders collectively, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDED, HOWEVER, that the sum of the aggregate amount of outstanding principal Revolving Loans plus LOC Obligations shall not exceed the aggregate Revolving ---- Committed Amount then in effect. For purposes hereof, the aggregate amount of Revolving Loans available hereunder shall not exceed ONE HUNDRED MILLION be TWENTY-FIVE Million DOLLARS ($100,000,00025,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.42.7, the "REVOLVING COMMITTED AMOUNTRevolving --------- Committed Amount"); PROVIDED, FURTHER, (A) with regard to each Lender individually, such Lender's outstanding Revolving Loans shall not exceed such Lender's Revolving Commitment Percentage of the Revolving Committed Amount, and (B) the sum of the aggregate outstanding principal amount of Revolving Loans PLUS LOC Obligations PLUS Swingline Loans shall not exceed the Revolving Committed Amount. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Alternate Base Rate ---------------- Loans or Eurodollar LIBOR Rate Loans, or a combination thereof, as the Borrower may request; PROVIDED, HOWEVER, that no more than 15 Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof; provided, however, Revolving Loans made on the -------- ------- Closing Date or on any of the three Business Days following the Closing Date may only consist of Alternate Base Rate Loans.
Appears in 1 contract
Revolving Commitment. Subject During the Commitment Period, subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth hereinhereof, each Revolving Lender severally severally, but not jointly, agrees to make available revolving credit loans in Dollars (“Revolving Loans”) to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANS") from time to time from the Closing Date until the Maturity Date, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDED, HOWEVER, that the sum of the in an aggregate outstanding principal amount of Revolving Loans shall not exceed ONE HUNDRED up to TWENTY MILLION DOLLARS ($100,000,00020,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.42.6, the "REVOLVING COMMITTED AMOUNT")“Revolving Committed Amount”) for the purposes hereinafter set forth; PROVIDEDprovided, FURTHERhowever, that (Ai) with regard to each Revolving Lender individually, the sum of such Revolving Lender's outstanding Revolving Loans shall not exceed such Lender's ’s Revolving Commitment Percentage of the aggregate principal amount of outstanding Revolving Committed Amount, Loans plus such Revolving Lender’s Revolving Commitment Percentage of outstanding Swingline Loans plus such Revolving Lender’s Revolving Commitment Percentage of outstanding LOC Obligations shall not exceed such Revolving Lender’s Revolving Commitment and (Bii) with regard to the Revolving Lenders collectively, the sum of the aggregate outstanding principal amount of outstanding Revolving Loans PLUS plus outstanding Swingline Loans plus outstanding LOC Obligations PLUS Swingline Loans shall not exceed the Revolving Committed AmountAmount then in effect. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Alternate Base Rate Loans or Eurodollar LIBOR Rate Loans, or a combination thereof, as the Borrower may request; PROVIDED, HOWEVER, that no more than 15 Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof; provided, however, the Revolving Loans made on the Closing Date or any of the three (3) Business Days following the Closing Date, may only consist of Alternate Base Rate Loans unless the Borrower delivers a funding indemnity letter, substantially in the form of Exhibit 2.1(a), reasonably acceptable to the Administrative Agent not less than three (3) Business Days prior to the Closing Date. LIBOR Rate Loans shall be made by each Revolving Lender at its LIBOR Lending Office and Alternate Base Rate Loans at its Domestic Lending Office.
Appears in 1 contract
Sources: Credit Agreement (New Century Transportation, Inc.)
Revolving Commitment. Subject During the Commitment Period, subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth hereinhereof, each Revolving Lender severally agrees to severally, but not jointly, shall make available revolving credit loans in Dollars (“Revolving Loans”) to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANS") from time to time from in an aggregate principal amount not at any time exceeding the total of Revolving Commitments of all the Lenders, which amount on the Closing Date until the Maturity Date, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDED, HOWEVER, that the sum of the aggregate outstanding principal amount of Revolving Loans shall not exceed ONE equal FIVE HUNDRED MILLION DOLLARS ($100,000,000500,000,000) (as increased from time to time as provided in Section 2.2 and as such aggregate maximum amount may be reduced from time to time as provided in Section 3.42.6, the "REVOLVING COMMITTED AMOUNT")“Revolving Committed Amount”) for the purposes hereinafter set forth; PROVIDEDprovided, FURTHERhowever, that (Ai) with regard to each Revolving Lender individually, the sum of such Revolving Lender's ’s Commitment Percentage of the aggregate principal amount of outstanding Revolving Loans plus such Revolving Lender’s Commitment Percentage of outstanding Swingline Loans plus such Revolving Lender’s Commitment Percentage of outstanding LOC Obligations shall not exceed such Revolving Lender's ’s Revolving Commitment Percentage of and (ii) with regard to the Revolving Committed AmountLenders collectively, and (B) the sum of the aggregate outstanding principal amount of outstanding Revolving Loans PLUS plus the aggregate principal amount of outstanding Swingline Loans plus the aggregate principal amount of outstanding LOC Obligations PLUS Swingline Loans shall not exceed the Revolving Committed AmountAmount then in effect. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Alternate Base Rate Loans or Eurodollar LIBOR Rate Loans, or a combination thereof, as the Borrower may request; PROVIDED, HOWEVER, that no more than 15 Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof; provided, however, the Revolving Loans made on the Closing Date or any of the three (3) Business Days following the Closing Date, may only consist of Alternate Base Rate Loans unless the Borrower delivers a funding indemnity letter, substantially in the form of Exhibit 2.1(a), reasonably acceptable to the Administrative Agent on or before the Closing Date, in which case LIBOR Rate Loans are available to the Borrower. LIBOR Rate Loans shall be made by each Revolving Lender at its LIBOR Lending Office and Alternate Base Rate Loans at its Domestic Lending Office.
Appears in 1 contract
Sources: Credit Agreement (Mednax, Inc.)
Revolving Commitment. Subject During the Commitment Period, subject to the terms and conditions hereof and in reliance upon hereof, the representations and warranties set forth hereinRevolving Lenders severally, each Lender severally agrees but not jointly, agree to make available revolving credit loans in Dollars (“Revolving Loans”) to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANS") from time to time from the Closing Date until the Maturity Date, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDED, HOWEVER, that the sum of the in an aggregate outstanding principal amount of Revolving Loans shall not exceed ONE HUNDRED MILLION DOLLARS up to (x) at any time on or prior to the Affiliate Loan Termination Date, $100,000,00010,000,000, and (y) at any time after the Affiliate Loan Termination Date, $110,000,000 (as increased from time to time as provided in Section 2.22(a) and as such aggregate maximum amount may be reduced from time to time as provided in Section 3.42.6, the "REVOLVING COMMITTED AMOUNT"“Revolving Committed Amount”) for the purposes hereinafter set forth (such facility, the “Revolving Facility”); PROVIDEDprovided, FURTHERhowever, that (Ai) with regard to each Revolving Lender individually, the sum of such Revolving Lender's outstanding Revolving Loans shall not exceed such Lender's ’s Revolving Commitment Percentage of the aggregate principal amount of outstanding Revolving Committed Amount, Loans plus such Revolving Lender’s Revolving Commitment Percentage of outstanding Swingline Loans plus such Revolving Lender’s Revolving Commitment Percentage of outstanding LOC Obligations shall not exceed such Revolving Lender’s Revolving Commitment and (Bii) with regard to the Revolving Lenders collectively, the sum of the aggregate outstanding principal amount of outstanding Revolving Loans PLUS plus outstanding Swingline Loans plus outstanding LOC Obligations PLUS Swingline Loans shall not exceed the Revolving Committed AmountAmount then in effect. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Alternate Base Rate Loans or Eurodollar LIBOR Rate Loans, or a combination thereof, as the Borrower may request; PROVIDED, HOWEVER, that no more than 15 Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof; provided, further, that the Revolving Loans made on the Closing Date or any of the three (3) Business Days following the Closing Date, may only consist of Alternate Base Rate Loans. LIBOR Rate Loans shall be made by each Revolving Lender at its LIBOR Lending Office and Alternate Base Rate Loans at its Domestic Lending Office.
Appears in 1 contract
Sources: Credit Agreement (GPM Petroleum LP)
Revolving Commitment. Subject to and upon the terms and conditions hereof and in reliance -------------------- relying upon the representations and warranties herein set forth hereinforth, each Lender agrees, severally agrees to make available to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANS") and not jointly, at any time and from time to time from the Closing Date until the Maturity Revolving Period Termination Date, or such earlier date as the same may be extended pursuant to Section 2.01(e) hereof, to make revolving credit loans (each a "Revolving Commitments shall have been terminated as provided hereinLoan" and, collectively, "Revolving Loans") to the Borrowers -------------- --------------- for the purposes set forth in Section 9.13; PROVIDEDprovided, HOWEVERhowever, that the sum (i) with regard -------- ------- to each Lender individually, such Lender's pro rata share of the aggregate outstanding principal amount of Revolving Loans shall not exceed ONE such Lender's Commitment Percentage of the Revolving Committed Amount, (ii) with regard to the Lenders collectively, the aggregate amount of Revolving Loans outstanding shall not exceed TWO HUNDRED MILLION DOLLARS ($100,000,000) (200,000,000), as such aggregate maximum amount may be reduced from time to time as provided in Section 3.4Sections 2.03 and 3.02 (such amount, as so reduced from time to time, the "REVOLVING COMMITTED AMOUNT"); PROVIDED, FURTHER, (A) with regard to each Lender individually, such Lender's outstanding Revolving Loans shall not exceed such Lender's Revolving Commitment Percentage of the Revolving Committed Amount"), and (Biii) in addition to the -------------------------- limitations set forth in the preceding subparagraphs (i) and (ii), in no event shall the sum of the aggregate outstanding principal amount of Revolving Loans PLUS LOC Obligations PLUS Swingline outstanding plus Competitive Loans shall not outstanding ---- exceed the Revolving Committed Amount. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans hereunder may consist of Base Rate Loans or Eurodollar Loans, Loans (or a combination thereof, ) as the either Borrower may request; PROVIDED, HOWEVER, that no more than 15 Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof. The aggregate outstanding principal amount of the Revolving Loans as of the Revolving Period Termination Date, together with all accrued and unpaid interest thereon, shall be due and payable in full on the Maturity Date in accordance with the provisions of Section 2.01(c) below.
Appears in 1 contract
Revolving Commitment. Subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth herein, each Lender severally agrees to make available to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANS"“Revolving Loans”) up to such Lender’s Revolving Commitment from time to time from the Closing Date until the Maturity Termination Date, or such earlier date as the Revolving Commitments shall have been terminated as provided hereinherein for the purposes hereinafter set forth; PROVIDEDprovided, HOWEVERhowever, that the sum of the aggregate outstanding principal amount of outstanding Revolving Loans shall not exceed ONE EIGHT HUNDRED MILLION DOLLARS ($100,000,000800,000,000.00) (as such aggregate maximum amount may be reduced or increased from time to time as provided in Section 3.4, the "REVOLVING COMMITTED AMOUNT"“Revolving Committed Amount”); PROVIDEDprovided, FURTHERfurther, (Ai) with regard to each Lender individually, the aggregate amount of such Lender's ’s outstanding Revolving Loans, pro rata share of Swingline Loans and pro rata share of L/C Obligations shall not exceed such Lender's ’s Revolving Commitment Percentage of the Revolving Committed AmountCommitment, and (Bii) with regard to the Lenders collectively, the sum of the aggregate outstanding principal amount of outstanding Revolving Loans PLUS LOC Obligations PLUS plus the aggregate principal amount of outstanding Swingline Loans plus the L/C Obligations outstanding shall not at any time exceed the Revolving Committed Amount. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Base Rate Loans or Eurodollar Loans, or a combination thereof, as the Borrower may request, and may be repaid and reborrowed in accordance with the provisions hereof; PROVIDEDprovided, HOWEVERhowever, that no more than 15 borrowings of fifteen (15) Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for time. For purposes hereof, borrowings of Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new borrowing of Eurodollar Loan Loans with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof. Notwithstanding the foregoing, the Borrower may not request any Loans hereunder while a Change of Control Standstill Period shall be in effect pursuant to Section 3.4(e) hereof.
Appears in 1 contract
Sources: Credit Agreement (Autozone Inc)
Revolving Commitment. Subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth herein, each Lender severally agrees to make available to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANS") from time to time from the Closing Date until the Maturity Date, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDED, HOWEVERTHAT, that the sum of the aggregate outstanding principal amount of outstanding Revolving Loans PLUS the aggregate amount of outstanding LOC Obligations shall not at any time exceed ONE HUNDRED an amount equal to the difference between (i) TWENTY MILLION AND NO/100 DOLLARS ($100,000,00020,000,000.00) and (ii) the amount of Indebtedness that is outstanding and unpaid from time to time pursuant to Section 7.1(g) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.4, the "REVOLVING COMMITTED AMOUNT"); PROVIDED, FURTHER, (A) with regard to each Lender individually, that such Lender's outstanding Revolving Loans PLUS Participation Interests in outstanding LOC Obligations shall not at any time exceed such Lender's Revolving Commitment Percentage of the Revolving Committed Amount, and (B) the sum of the aggregate outstanding principal amount of Revolving Loans PLUS LOC Obligations PLUS Swingline Loans shall not exceed the Revolving Committed Amount. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Base Rate Loans or Eurodollar Loans, or a combination thereof, as the Borrower may request, and may be repaid and reborrowed in accordance with the provisions hereof; PROVIDED, HOWEVERTHAT, that no more than 15 six Eurodollar Loans shall be outstanding hereunder under this Agreement at any time (it being understood that, for time. For purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions borrowings of Eurodollar Loans may, in accordance with the provisions hereof, be combined through extensions or conversions at the end of existing Interest Periods to constitute a single new Eurodollar Loan with a single the same Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereofof this Agreement.
Appears in 1 contract
Revolving Commitment. Subject (a) Lender agrees, subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth herein, each Lender severally agrees to make available lend to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANS") from time to time from during the Closing Date until Revolving Credit Period amounts not to exceed in the Maturity Dateaggregate at any one time outstanding, the lesser of (i) the amount of the Revolving Commitment reduced by an amount equal to the Letter of Credit Exposure, or such earlier date as (ii) the Borrowing Base. Each borrowing under the Revolving Commitments Commitment shall have been terminated as provided herein; PROVIDED, HOWEVER, that the sum of be in the aggregate outstanding principal amount of Revolving Loans shall not exceed ONE HUNDRED MILLION DOLLARS $100,000 or any larger integral multiple of $100,000. Subject to the foregoing limitations and the other provisions of this Agreement, Borrower may borrow under this Section 2.2(a), repay amounts borrowed under this Section 2.2(a) and request new borrowings under this Section 2.2(a).
($100,000,000b) (as such aggregate maximum amount may be reduced Lender will issue Letters of Credit, from time to time during the Revolving Credit Period upon request by Borrower, for the account of Borrower, so long as provided in Section 3.4, (i) the "REVOLVING COMMITTED AMOUNT"); PROVIDED, FURTHER, sum of (A) with regard to each Lender individually, such Lender's outstanding Revolving Loans shall not exceed such Lender's Revolving Commitment Percentage the total Letter of the Revolving Committed AmountCredit Exposure then existing, and (B) the sum amount of the aggregate outstanding principal requested Letter of Credit, does not exceed $20,000,000, and (ii) Borrower would be entitled to a borrowing under Section 2.2(a) in the amount of Revolving Loans PLUS LOC Obligations PLUS Swingline Loans the requested Letter of Credit. Not less than three (3) Domestic Business Days prior to the requested date of issuance of any such Letter of Credit, Borrower shall execute and deliver to Lender, Lender’s customary letter of credit application and agreement (“Letter of Credit Application”). Each Letter of Credit shall be in form and substance acceptable to Lender. No Letter of Credit shall have an expiration date later than the Letter of Credit Expiration Date. In connection with the issuance of Letters of Credit under this Section 2.2(b), Borrower shall pay to Lender in respect of such Letters of Credit at the time of issuance of each Letter of Credit, the applicable Letter of Credit Fee. Notwithstanding anything to the contrary contained herein, Borrower shall also pay to Lender in connection with the issuance of any Letter of Credit, Lender’s usual and customary fees for the issuing and processing of Letters of Credit. As between Borrower, on the one hand, and Lender, on the other hand, Borrower assumes all risks of the acts and omissions of, or misuse of Letters of Credit by, the beneficiary of such Letters of Credit. In furtherance and not in limitation of the foregoing, Lender shall not exceed be responsible for:
(i) the form, validity, sufficiency, accuracy, genuineness or legal effect of any document submitted by any Person in connection with the application for and issuance of and presentation of drafts with respect to any Letter of Credit, even if it should prove to be in any or all respects invalid, insufficient, inaccurate, fraudulent or forged;
(ii) the validity or sufficiency of any instrument transferring or assigning or purporting to transfer or assign the Letter of Credit or the rights or benefits thereunder or proceeds thereof, in whole or in part, which may prove to be invalid or ineffective for any reason;
(iii) the failure of the beneficiary of the Letter of Credit to comply duly with conditions required in order to draw upon such Letter of Credit;
(iv) errors, omissions, interruptions or delays in transmission or delivery of any messages, by mail, cable, telegraph, telex or otherwise, whether or not they be in cipher;
(v) errors in interpretation of technical terms;
(vi) any loss or delay in the transmission or otherwise of any document required in order to make a drawing under any Letter of Credit or of the proceeds thereof,
(vii) the misapplication by the beneficiary of the Letter of Credit of the proceeds of any drawing under such Letter of Credit; or
(viii) any consequences arising from causes beyond the control of Lender. Notwithstanding the foregoing, it will be the obligation of Lender to Borrower to confirm that any documents required to be delivered with respect to any Letter of Credit appear to have been delivered and that they appear to substantially comply on their face with the requirements of such Letter of Credit.
(c) In order to request any borrowing under the Revolving Committed AmountCommitment, Borrower shall hand deliver, telex or telecopy to Lender a duly completed Request for Borrowing (herein so called) (i) prior to 11:00 a.m. (Houston, Texas time) on the date specified for a proposed borrowing subject to a Base Rate Tranche, and (ii) prior to 12:00 noon (Houston, Texas time) at least three (3) Eurodollar Business Days before the date of a proposed borrowing subject to a Eurodollar Tranche. The initial Each such Request for Borrowing shall be substantially in the form of Exhibit G hereto, and shall specify:
(i) whether such borrowing is to be the subject of a Base Rate Tranche or a Eurodollar Tranche;
(ii) the borrowing date of such borrowing, which shall be a Domestic Business Day in the case of a Base Rate Tranche, or a Eurodollar Business Day in the case of a Eurodollar Tranche;
(iii) the aggregate amount of such borrowing; and
(iv) in the case of a borrowing the subject of a Eurodollar Tranche, the duration of the Interest Period applicable thereto, subject to the provisions of the definition of Interest Period. Not later than 12:00 noon (Houston, Texas time) on the date of each borrowing, Lender shall make available the proceeds of such borrowing, in Federal or other funds immediately available at Lender’s office in Houston, Texas, unless Lender determines that any applicable condition precedent to the advance of the Revolving Loans proceeds of such borrowing has not been satisfied.
(d) In order to request any Letter of Credit hereunder, Borrower shall hand deliver, telex or telecopy to Lender a duly completed Request for Letter of Credit (herein so called) prior to 12:00 noon (Houston, Texas time) at least three (3) Domestic Business Days before the date specified for issuance of such Letter of Credit. Each Request for Letter of Credit shall be substantially in the form of Exhibit H hereto, shall be accompanied by Lender’s duly completed and executed Letter of Credit Application and shall specify:
(i) the requested date for issuance of such Letter of Credit;
(ii) the terms of such requested Letter of Credit, including the name and address of the beneficiary, the stated amount, the expiration date and the conditions under which drafts under such Letter of Credit are to be available; and
(iii) the purpose of such Letter of Credit. Upon receipt of a Request for Letter of Credit by Lender, such Request for Letter of Credit shall not thereafter be revocable by Borrower. No later than 12:00 noon (Houston, Texas time) on the Closing Date shall consist solely date each Letter of Base Rate Loans. ThereafterCredit is requested, Revolving Loans may consist unless Lender determines that any applicable condition precedent for the issuance of Base Rate Loans or Eurodollar Loanssuch Letter of Credit has not been satisfied, or a combination thereof, as Lender will issue and deliver such Letter of Credit pursuant to the Borrower may request; PROVIDED, HOWEVER, that no more than 15 Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end instructions of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereofBorrower.
Appears in 1 contract
Revolving Commitment. Subject During the Commitment Period, subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth hereinhereof, each Revolving Lender severally agrees to make available revolving credit loans ("Revolving Loans") to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANS") from time to time from the Closing Date until the Maturity Date, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDED, HOWEVER, that the sum of the in an aggregate outstanding principal amount of Revolving Loans shall not exceed ONE HUNDRED MILLION up to SEVENTY-FIVE Million DOLLARS ($100,000,00075,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.42.6, the "REVOLVING COMMITTED AMOUNTAggregate Revolving Committed Amount")) for the purposes hereinafter set forth; PROVIDEDprovided, FURTHERhowever, that (Ai) with regard to each Revolving Lender individually, the sum of such Revolving Lender's share of outstanding Revolving Loans shall not exceed plus such Revolving Lender's Revolving Commitment Percentage of the outstanding Swingline Loans plus such Revolving Lender's LOC Commitment Percentage of LOC Obligations shall not exceed such Revolving Lender's Revolving Committed Amount, and (Bii) with regard to the Revolving Lenders collectively, the sum of the aggregate outstanding principal amount of Revolving Loans PLUS plus outstanding Swingline Loans plus LOC Obligations PLUS Swingline Loans shall not exceed the Aggregate Revolving Committed Amount. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Alternate Base Rate Loans or Eurodollar LIBOR Rate Loans, or a combination thereof, as the Borrower may request; PROVIDED, HOWEVER, that no more than 15 Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof. LIBOR Rate Loans shall be made by each Revolving Lender at its LIBOR Lending Office and Alternate Base Rate Loans at its Domestic Lending Office.
Appears in 1 contract
Revolving Commitment. Subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth herein, each Revolving Lender severally agrees to make available to the Borrower such Revolving Lender's Revolving ’s Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANS"“Revolving Loans”) from time to time from the Closing Date until the Maturity Date, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDEDprovided, HOWEVERhowever, that the sum of the aggregate outstanding principal amount of Revolving Loans shall not exceed ONE HUNDRED SEVENTY FIVE MILLION DOLLARS ($100,000,00075,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.4, the "REVOLVING COMMITTED AMOUNT"“Revolving Committed Amount”); PROVIDEDprovided, FURTHERfurther, (A) with regard to each Revolving Lender individually, such Revolving Lender's ’s outstanding Revolving Loans shall not exceed such Revolving Lender's Revolving ’s Commitment Percentage of the Revolving Committed Amount, and (B) the sum of the aggregate outstanding principal amount of Revolving Loans PLUS plus LOC Obligations PLUS plus Swingline Loans shall not exceed the Revolving Committed Amount. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Base Rate Loans or Eurodollar Loans, or a combination thereof, as the Borrower may request; PROVIDEDprovided, HOWEVERhowever, that no more than 15 6 Eurodollar Loans which are Revolving Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof.
Appears in 1 contract
Revolving Commitment. Subject During the Commitment Period, subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth hereinhereof, each Revolving Lender severally severally, but not jointly, agrees to make available to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANS"“Revolving Loans”) to the Borrowers from time to time from the Closing Date until the Maturity Date, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDED, HOWEVER, that the sum of the in an aggregate outstanding principal amount of Revolving Loans shall not exceed ONE HUNDRED up to TWENTY-FIVE MILLION DOLLARS ($100,000,00025,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.42.6, the "REVOLVING COMMITTED AMOUNT"“Revolving Committed Amount”) for the purposes hereinafter set forth (such facility, the “Revolving Facility”); PROVIDEDprovided, FURTHERhowever, that (Ai) with regard to each Revolving Lender individually, the sum of such Revolving Lender's outstanding Revolving Loans shall not exceed such Lender's ’s Revolving Commitment Percentage of the aggregate principal amount of outstanding Revolving Loans plus such Revolving Lender’s Revolving Commitment Percentage of outstanding Swingline Loans plus such Revolving Lender’s Revolving Commitment Percentage of outstanding LOC Obligations shall not exceed such Revolving Lender’s Revolving Commitment and (ii) with regard to the Revolving Lenders collectively, the sum of the aggregate principal amount of outstanding Revolving Loans plus outstanding Swingline Loans plus outstanding LOC Obligations shall not exceed the lesser of (A) the Revolving Committed Amount, Amount then in effect and (B) the sum of the aggregate outstanding principal amount of Revolving Loans PLUS LOC Obligations PLUS Swingline Loans shall not exceed the Revolving Committed AmountBorrowing Base. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Alternate Base Rate Loans or Eurodollar LIBOR Rate Loans, or a combination thereof, as the applicable Borrower may request; PROVIDED, HOWEVER, that no more than 15 Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof; provided, however, the Revolving Loans made on the Closing Date or any of the three (3) Business Days following the Closing Date, may only consist of Alternate Base Rate Loans unless the Borrowers deliver a funding indemnity letter, substantially in the form of Exhibit 2.1(a), reasonably acceptable to the Administrative Agent not less than three (3) Business Days prior to the Closing Date. LIBOR Rate Loans shall be made by each Revolving Lender at its LIBOR Lending Office and Alternate Base Rate Loans at its Domestic Lending Office.
Appears in 1 contract
Sources: Credit Agreement (Primo Water Corp)
Revolving Commitment. Subject During the Commitment Period, subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth hereinhereof, each Revolving Lender severally severally, but not jointly, agrees to make available to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANSRevolving Loans") to the Borrower from time to time from the Closing Date until the Maturity Date, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDED, HOWEVER, that the sum of the in an aggregate outstanding principal amount of Revolving Loans shall not exceed ONE HUNDRED up to TWENTY MILLION DOLLARS ($100,000,00020,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.42.6, the "REVOLVING COMMITTED AMOUNTRevolving Committed Amount")) for the purposes hereinafter set forth; PROVIDEDprovided, FURTHERhowever, that (Ai) with regard to each Revolving Lender individually, the sum of such Lender's outstanding Revolving Loans shall not exceed such Lender's Revolving Commitment Percentage of the aggregate principal amount of outstanding Revolving Committed Amount, Loans plus such Revolving Lender's Revolving Commitment Percentage of outstanding Swingline Loans plus such Revolving Lender's Revolving Commitment Percentage of outstanding LOC Obligations shall not exceed such Revolving Lender's Revolving Commitment and (Bii) with regard to the Revolving Lenders collectively, the sum of the aggregate outstanding principal amount of outstanding Revolving Loans PLUS plus outstanding Swingline Loans plus outstanding LOC Obligations PLUS Swingline Loans shall not exceed the Revolving Committed AmountAmount then in effect. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Alternate Base Rate Loans or Eurodollar LIBOR Rate Loans, or a combination thereof, as the Borrower may request; PROVIDED, HOWEVER, that no more than 15 Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof; provided, however, the Revolving Loans made on the Closing Date or any of the three (3) Business Days following the Closing Date, may only consist of Alternate Base Rate Loans unless the Borrower delivers a funding indemnity letter, substantially in the form of Exhibit 2.1(a), reasonably acceptable to the Administrative Agent not less than three (3) Business Days prior to the Closing Date. LIBOR Rate Loans shall be made by each Revolving Lender at its LIBOR Lending Office and Alternate Base Rate Loans at its Domestic Lending Office.
Appears in 1 contract
Revolving Commitment. Subject to and upon the terms and conditions hereof -------------------- and in reliance relying upon the representations and warranties herein set forth hereinforth, each Lender agrees, severally agrees to make available to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANS") and not jointly, at any time and from time to time from the Closing Restatement Date until the Maturity Date, or to make revolving credit loans (each a "Revolving Loan" and, collectively, "Revolving Loans") to the Borrower for the purposes set forth in Section 9.13; provided, however, (i) with regard -------- ------- to each Lender individually, such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDED, HOWEVER, that the sum Lender's pro rata share of the aggregate outstanding principal amount of Revolving Loans shall not exceed such Lender's Commitment Percentage of the Revolving Committed Amount, (ii) with regard to the Lenders collectively, the aggregate amount of Revolving Loans outstanding shall not exceed ONE HUNDRED SEVENTY-FIVE MILLION DOLLARS ($100,000,000) (175,000,000), as such aggregate maximum amount may be reduced from time to time as provided in Section 3.42.05 or as otherwise provided herein (such amount, as so reduced from time to time, the "REVOLVING COMMITTED AMOUNT"); PROVIDED, FURTHER, (A) with regard to each Lender individually, such Lender's outstanding Revolving Loans shall not exceed such Lender's Revolving Commitment Percentage of the Revolving Committed Amount"), and (Biii) in addition to the limitations set forth in the preceding subparagraphs (i) and (ii), in no event shall the sum of the aggregate outstanding principal amount of Revolving Loans PLUS outstanding plus Swingline Loans outstanding plus the LOC Obligations PLUS Swingline ---- ---- outstanding plus Competitive Loans shall not outstanding exceed the Revolving Committed ---- Amount. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans hereunder may consist of Base Rate Loans or Eurodollar Loans, Loans (or a combination thereof, ) as the Borrower may request; PROVIDED, HOWEVER, that no more than 15 Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof.
Appears in 1 contract
Revolving Commitment. Subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth herein, each Lender severally agrees to make available to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANS") from time to time from the Closing Date until the Maturity Termination Date, or such earlier date as the Revolving Commitments shall have been terminated as provided hereinherein for the purposes hereinafter set forth; PROVIDED, HOWEVER, that the sum of the aggregate outstanding principal amount of outstanding Revolving Loans PLUS the aggregate amount of outstanding LOC Obligations shall not at any time exceed ONE HUNDRED THIRTY-FIVE MILLION DOLLARS ($100,000,00035,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.4, the "REVOLVING COMMITTED AMOUNT"); PROVIDED, FURTHER, (A) with regard to each Lender individually, that such Lender's outstanding Revolving Loans PLUS Participation Interests in outstanding LOC Obligations shall not at any time exceed such Lender's Revolving Commitment Percentage of the Revolving Committed Amount, and (B) the sum of the aggregate outstanding principal amount of Revolving Loans PLUS LOC Obligations PLUS Swingline Loans shall not exceed the Revolving Committed Amount. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Base Rate Loans or Eurodollar Loans, or a combination thereof, as the Borrower may request, and may be repaid and reborrowed in accordance with the provisions hereof; PROVIDED, HOWEVER, that the Revolving Loans outstanding at any time shall consist of no more than 15 six (6) separate Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for Loans. For purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions borrowings of Eurodollar Loans may, in accordance with the provisions hereof, be combined through extensions or conversions at the end of existing Interest Periods to constitute a single new Eurodollar Loan with a single the same Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof."
Appears in 1 contract
Sources: Credit Agreement (Flo Fill Co Inc)
Revolving Commitment. Subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth herein, each Lender severally agrees to make available to the Borrower such Lender's ’s Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANS"“Revolving Loans”) from time to time from the Closing Date until the Maturity Date, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDEDprovided, HOWEVER, that the sum of the aggregate outstanding principal amount of Revolving Loans shall not exceed ONE HUNDRED MILLION DOLLARS ($100,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.4, the "REVOLVING COMMITTED AMOUNT"); PROVIDED, FURTHERhowever, (Ai) with regard to each Lender individually, such Lender's ’s outstanding Revolving Loans shall not exceed such Lender's ’s Revolving Commitment Percentage of the Revolving Committed Amount, and (Bii) the sum of (A) the aggregate outstanding principal amount of Revolving Loans PLUS plus (B) the LOC Obligations PLUS Swingline Loans plus (C) the Aggregate Derivative Reserve Amount shall not exceed the Revolving Committed Amount. The initial advance , and (iii) the sum of (A) the aggregate outstanding principal amount of Revolving Loans on plus (B) the Closing Date LOC Obligations plus (C) the Aggregate Derivative Exposure Amount, plus (D) the then-outstanding Term Loan Obligations shall consist solely of Base Rate Loansnot exceed the Borrowing Base. Thereafter, Revolving Loans may consist of Base Rate Loans or Eurodollar Loans, or a combination thereof, as the Borrower may requestrequest (subject to the terms and conditions set forth herein); PROVIDEDprovided, HOWEVERhowever, that no more than 15 ten (10) Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). The Revolving Loans made hereunder may be repaid and reborrowed in accordance with the provisions hereof.
Appears in 1 contract
Revolving Commitment. Subject During the Commitment Period, subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth hereinhereof, each Revolving Lender severally severally, but not jointly, agrees to make available to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower (“Revolving Loans”) (i) in Dollars and in Foreign Currencies to the Company ("REVOLVING LOANS"“Company Revolving Loans”) and (ii) in Foreign Currencies to the Foreign Borrowers (“Foreign Borrower Revolving Loans”), in each case from time to time from the Closing Date until the Maturity Date, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDED, HOWEVER, that the sum of the in an aggregate outstanding principal amount of Revolving Loans shall not exceed ONE up to FIVE HUNDRED MILLION DOLLARS ($100,000,000500,000,000) (as increased from time to time as provided in Section 2.22 and as such aggregate maximum amount may be reduced from time to time as provided in Section 3.42.6, the "REVOLVING COMMITTED AMOUNT"“Revolving Committed Amount”) for the purposes hereinafter set forth (such facility, the “Revolving Facility”); PROVIDEDprovided, FURTHERhowever, that (A) with regard to each Revolving Lender individually, the sum of such Revolving Lender's ’s Commitment Percentage of the aggregate principal amount of outstanding Revolving Loans plus such Revolving Lender’s Commitment Percentage of outstanding Swingline Loans plus such Revolving Lender’s Commitment Percentage of outstanding LOC Obligations plus such Lender’s Revolving Credit Commitment Percentage of the Foreign Currency Reserve shall not exceed such Revolving Lender's ’s Revolving Commitment Percentage of the Revolving Committed AmountCommitment, and (B) with regard to the Revolving Lenders collectively, the sum of the aggregate outstanding principal amount of outstanding Revolving Loans PLUS plus outstanding Swingline Loans plus outstanding LOC Obligations PLUS Swingline Loans plus the Foreign Currency Reserve shall not exceed the Revolving Committed AmountAmount then in effect. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Alternate Base Rate Loans, LIBOR Market Index Rate Loans or Eurodollar LIBOR Rate Loans, or a combination thereof, as the Borrower Company may request; PROVIDED, HOWEVER, that no more than 15 Eurodollar request and Revolving Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar denominated in a Foreign Currency may consist of only LIBOR Rate Loans with different Interest Periods shall be considered as separate Eurodollar or LIBOR Market Index Rate Loans, even if they begin on the same dateand in each case, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof; provided, however, that during the three (3) Business Day period commencing on the Seventh Amendment Effective Date, the Foreign Borrowers may only borrow Revolving Loans to the extent the Foreign Borrower requesting such Revolving Loan has delivered a funding indemnity letter, substantially in the form of Exhibit 2.1(a), reasonably acceptable to the Administrative Agent not less than three (3) Business Days prior to the Seventh Amendment Effective Date. LIBOR Rate Loans and LIBOR Market Index Rate Loans shall be made by each Revolving Lender at its LIBOR Lending Office and Alternate Base Rate Loans at its Domestic Lending Office. No Foreign Borrower shall constitute a Borrower under the Company Revolving Loans and the Company shall not constitute a Borrower under the Foreign Borrower Revolving Loans. Notwithstanding any provision in the Credit Documents to the contrary, (a) no Foreign Borrower shall be liable for Loans made to or other Obligations of any other Foreign Borrower, either as a Guarantor or pursuant to joint and several liability as a co-Foreign Borrower, (b) no Foreign Borrower shall be liable for Loans made to the Company or other Obligations of the Company other than Obligations of the Company with respect to Loans made to such Foreign Borrower and (c) no collateral owned by any Foreign Borrower shall secure any Obligations other than the Obligations of such Foreign Borrower.
Appears in 1 contract
Revolving Commitment. Subject to the terms and conditions hereof of the Credit Agreement and in reliance upon the representations and warranties set forth hereinin the Credit Agreement, each Lender severally agrees to make available to the Borrower ▇▇▇▇ such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANSRevolving Loans") from time to time from the Closing Date until the Maturity Termination Date, or such earlier date as the Revolving Commitments shall have been terminated as provided hereinin the Credit Agreement for the purposes hereinafter set forth; PROVIDEDprovided further, HOWEVERhowever, that the sum of the aggregate outstanding principal amount of outstanding Revolving Loans shall not exceed ONE HUNDRED FIFTY MILLION DOLLARS ($100,000,00050,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.4, the "REVOLVING COMMITTED AMOUNTRevolving Committed Amount"); PROVIDEDprovided, FURTHERfurther, (Ai) with regard to each Lender individually, such Lender's outstanding Revolving Loans shall not exceed such Lender's Revolving Commitment Percentage of the Revolving Committed Amount, and (Bii) with regard to the sum Lenders collectively, the aggregate principal amount of outstanding Revolving Loans plus Domestic LOC Obligations outstanding plus the aggregate principal amount of outstanding Competitive Loans plus the aggregate principal amount of outstanding Swingline Loans plus the Dollar Amount (as determined as of the most recent Determination Date) of the aggregate outstanding principal amount of Revolving outstanding Foreign Currency Loans PLUS plus the Dollar Amount (as determined as of the most recent Determination Date) of Foreign LOC Obligations PLUS Swingline Loans outstanding shall not exceed the Revolving Committed Amount. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Base Rate Loans or Eurodollar Loans, or a combination thereof, as the Borrower ▇▇▇▇ may request, and may be repaid and reborrowed in accordance with the provisions of the Credit Agreement; PROVIDEDprovided, HOWEVERhowever, that no more than 15 12 separate Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for time. For purposes hereofof the Credit Agreement, Eurodollar Loans with different Interest Periods and/or in different currencies shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereofof the Credit Agreement, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid Period and reborrowed in accordance with the provisions hereofsame currency.
Appears in 1 contract
Sources: Credit Agreement (Hunt Corp)
Revolving Commitment. Subject During the Commitment Period, subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth hereinhereof, each U.S. Revolving Lender severally agrees to make available revolving credit loans in U.S. Dollars ("U.S. Revolving Loans") to the Borrower Company from time to time in an aggregate principal amount not to exceed at any time outstanding the amount of such U.S. Revolving Lender's U.S. Revolving Commitment; provided, however, that after giving effect to any such U.S. Revolving Loans, (i) the aggregate principal Dollar Amount (determined as of the most recent Determination Date) of outstanding Revolving Loans, Swingline Loans and LOC Obligations shall not exceed the Aggregate Revolving Committed Amount, (ii) the aggregate principal Dollar Amount (determined as of the most recent Determination Date) of the outstanding U.S. Revolving Loans, U.S. Swingline Loans and LOC Obligations shall not exceed the Aggregate U.S. Revolving Committed Amount and (iii) the aggregate principal Dollar Amount (determined as of the most recent Determination Date) of any U.S. Revolving Lender's U.S. Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANS") from time to time from the Closing Date until the Maturity Dateoutstanding U.S. Revolving Loans, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDED, HOWEVER, that the sum of the aggregate outstanding principal amount of Revolving U.S. Swingline Loans shall not exceed ONE HUNDRED MILLION DOLLARS ($100,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.4, the "REVOLVING COMMITTED AMOUNT"); PROVIDED, FURTHER, (A) with regard to each Lender individually, such Lender's outstanding Revolving Loans and LOC Obligations shall not exceed such U.S. Revolving Lender's Revolving Commitment Percentage of the Revolving Committed Amount, and (B) the sum of the aggregate outstanding principal amount of Revolving Loans PLUS LOC Obligations PLUS Swingline Loans shall not exceed the U.S. Revolving Committed Amount. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, U.S. Revolving Loans may consist of Alternate Base Rate Loans or Eurodollar LIBOR Rate Loans, or a combination thereof, as the Borrower Company may request; PROVIDED, HOWEVER, that no more than 15 Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof; provided, however, U.S. Revolving Loans made on the Closing Date or on any of the three Business Days following the Closing Date may only consist of Alternate Base Rate Loans unless the Company executes a funding indemnity letter in form and substance reasonably satisfactory to the Administrative Agent. LIBOR Rate Loans denominated in U.S. Dollars shall be made by each U.S. Revolving Lender at its LIBOR Lending Office. Alternate Base Rate Loans shall be made by each U.S. Revolving Lender at its Domestic Lending Office.
Appears in 1 contract
Sources: Credit Agreement (Rock-Tenn CO)
Revolving Commitment. Subject During the Commitment Period, subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth hereinhereof, each Lender severally severally, but not jointly, agrees to make available revolving credit loans ("Revolving Loans") to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANS") from time to time from the Closing Date until the Maturity Date, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDED, HOWEVER, that the sum of the in an aggregate outstanding principal amount of Revolving Loans shall not exceed up to ONE HUNDRED MILLION FIFTY Million DOLLARS ($100,000,000150,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.42.5, the "REVOLVING COMMITTED AMOUNTAggregate Revolving Committed Amount")) for the purposes hereinafter set forth; PROVIDEDprovided, FURTHERhowever, that (Ai) with regard to each Lender individually, the aggregate principal amount of such Lender's Revolving Commitment Percentage of outstanding Revolving Loans plus such Lender's Revolving Commitment Percentage of outstanding Swingline Loans plus such Lender's LOC Commitment Percentage of LOC Obligations shall not exceed such Lender's Revolving Commitment Percentage of the Revolving Committed Amount, Amount and (Bii) with regard to the sum of Lenders collectively, the aggregate outstanding principal amount of the outstanding Revolving Loans PLUS plus outstanding Swingline Loans plus LOC Obligations PLUS Swingline Loans shall not exceed the Aggregate Revolving Committed Amount. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Alternate Base Rate Loans or Eurodollar LIBOR Rate Loans, or a combination thereof, as the Borrower may request; PROVIDED, HOWEVER, that no more than 15 Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof; provided, however, Revolving Loans made on the Closing Date or on any of the three Business Days following the Closing Date may only consist of Alternate Base Rate Loans. LIBOR Rate Loans shall be made by each Lender at its LIBOR Lending Office and Alternate Base Rate Loans at its Domestic Lending Office.
Appears in 1 contract
Sources: Credit Agreement (MPS Group Inc)
Revolving Commitment. Subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth herein, each Lender severally agrees to make available to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANSRevolving Loans") from time to time from the Closing Date until the Maturity Date, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDEDprovided, HOWEVERhowever, that the sum of the aggregate outstanding principal amount of Revolving Loans plus the aggregate amount of Swingline Loans outstanding plus the outstanding LOC Obligations shall not exceed ONE TWO HUNDRED FIFTY MILLION DOLLARS ($100,000,000250,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.4, the "REVOLVING COMMITTED AMOUNTRevolving Committed Amount"); PROVIDEDprovided, FURTHERfurther, (A) with regard to each Lender individually, such Lender's outstanding Revolving Loans plus its Participation Interests in Swingline Loans and LOC Obligations shall not exceed such Lender's Revolving Commitment Percentage of the Revolving Committed Amount, and (B) the sum of the aggregate outstanding principal amount of Revolving Loans PLUS LOC Obligations PLUS Swingline Loans shall not exceed the Revolving Committed Amount. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Base Rate Loans or Eurodollar Loans, or a combination thereof, as the Borrower may request; PROVIDEDprovided, HOWEVERhowever, that no more than 15 six (6) Eurodollar Loans which are Revolving Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof.
Appears in 1 contract
Sources: Credit Agreement (Longview Fibre Co)
Revolving Commitment. Subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth herein, each Revolving Lender severally agrees to make available to the Borrower such Revolving Lender's Revolving ’s Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANS"“Revolving Loans”) from time to time from the Closing Date until the Revolving Maturity Date, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDEDprovided, HOWEVERhowever, that the sum of the aggregate outstanding principal amount of Revolving Loans shall not exceed ONE HUNDRED FORTY MILLION DOLLARS ($100,000,00040,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.4, the "REVOLVING COMMITTED AMOUNT"“Revolving Committed Amount”); PROVIDEDprovided, FURTHERfurther, (A) with regard to each Revolving Lender individually, such Revolving Lender's ’s outstanding Revolving Loans shall not exceed such Revolving Lender's Revolving ’s Commitment Percentage of the Revolving Committed Amount, and (B) the sum of the aggregate outstanding principal amount of Revolving Loans PLUS plus LOC Obligations PLUS plus Swingline Loans shall not exceed the Revolving Committed Amount. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Base Rate Loans or Eurodollar Loans, or a combination thereof, as the Borrower may request; PROVIDEDprovided, HOWEVERhowever, that no more than 15 Eurodollar six (6)Eurodollar Loans which are Revolving Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof.
Appears in 1 contract
Revolving Commitment. Subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth herein, each Lender severally agrees to make available to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANS"“Revolving Loans”) up to such Lender’s Revolving Commitment from time to time from the Closing Date until the Maturity Termination Date, or such earlier date as the Revolving Commitments shall have been terminated as provided hereinherein for the purposes hereinafter set forth; PROVIDEDprovided, HOWEVERhowever, that the sum of the aggregate outstanding principal amount of outstanding Revolving Loans shall not exceed ONE HUNDRED MILLION BILLION DOLLARS ($100,000,0001,000,000,000.00) (as such aggregate maximum amount may be reduced or increased from time to time as provided in Section 3.4, the "REVOLVING COMMITTED AMOUNT"“Revolving Committed Amount”); PROVIDEDprovided, FURTHERfurther, (Ai) with regard to each Lender individually, the aggregate amount of such Lender's ’s outstanding Revolving Loans, pro rata share of Swingline Loans and pro rata share of L/C Obligations shall not exceed such Lender's ’s Revolving Commitment Percentage of the Revolving Committed AmountCommitment, and (Bii) with regard to the Lenders collectively, the sum of the aggregate outstanding principal amount of outstanding Revolving Loans PLUS LOC Obligations PLUS plus the aggregate principal amount of outstanding Swingline Loans plus the L/C Obligations outstanding shall not at any time exceed the Revolving Committed Amount. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Base Rate Loans or Eurodollar Loans, or a combination thereof, as the Borrower may request, and may be repaid and reborrowed in accordance with the provisions hereof; PROVIDEDprovided, HOWEVERhowever, that no more than 15 borrowings of fifteen (15) Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for time. For purposes hereof, borrowings of Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new borrowing of Eurodollar Loan Loans with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof. Notwithstanding the foregoing, the Borrower may not request any Loans hereunder while a Change of Control Standstill Period shall be in effect pursuant to Section 3.4(e) hereof.
Appears in 1 contract
Sources: Credit Agreement (Autozone Inc)
Revolving Commitment. Subject During the Commitment Period, subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth hereinhereof, each Revolving Lender severally severally, but not jointly, agrees to make available to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANS"“Revolving Loans”) to the Borrowers from time to time from the Closing Date until the Maturity Date, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDED, HOWEVER, that the sum of the in an aggregate outstanding principal amount of Revolving Loans shall not exceed ONE up to THIRTY FIVE MILLION TWO HUNDRED MILLION SEVENTY THOUSAND NINE HUNDRED NINETY FIVE DOLLARS ($100,000,00035,270,995.00) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.42.4, the "REVOLVING COMMITTED AMOUNT"“Revolving Committed Amount”); PROVIDEDprovided, FURTHERhowever, that (Ai) with regard to each Revolving Lender individually, the sum of such Revolving Lender's ’s Revolving Commitment Percentage of the aggregate principal amount of outstanding Revolving Loans shall not exceed such Revolving Lender's ’s Revolving Commitment Percentage of and (ii) with regard to the Revolving Committed AmountLenders collectively, and (B) the sum of the aggregate outstanding principal amount of outstanding Revolving Loans PLUS LOC Obligations PLUS Swingline Loans shall not exceed the Revolving Committed AmountAmount then in effect. The initial advance of No Revolving Loan shall be made by any Revolving Lender if (i) such Revolving Loan and the Revolving Loans on Loan Collateral therefor are not approved by the Closing Date shall consist solely Administrative Agent in its discretion, (ii) before or after giving effect to such Revolving Loan, the Availability is or would be negative and (iii) the conditions to Extensions of Base Rate LoansCredit in Section 4.2 are not satisfied. Thereafter, Revolving Loans may consist of Alternate Base Rate Loans or Eurodollar LIBOR Rate Loans, or a combination thereof, as the Borrower Borrowers may request; PROVIDED, HOWEVER, that no more than 15 Eurodollar Loans shall and may be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, repaid in accordance with the provisions hereof; provided, be combined at however, the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder made on the Restatement Date or any of the three (3) Business Days following the Restatement Date, may only consist of Alternate Base Rate Loans unless the Borrowers deliver a funding indemnity letter, substantially in the form of Exhibit 2.1(a), reasonably acceptable to the Administrative Agent not less than three (3) Business Days prior to the Restatement Date. LIBOR Rate Loans shall be repaid made by each Revolving Lender at its LIBOR Lending Office and reborrowed in accordance with the provisions hereofAlternate Base Rate Loans at its Domestic Lending Office.
Appears in 1 contract
Revolving Commitment. Subject During the Commitment Period, subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth hereinhereof, each Revolving Lender severally severally, but not jointly, agrees to make available to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANSRevolving Loans") to the Borrower from time to time from the Closing Date until the Maturity Date, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDED, HOWEVER, that the sum of the in an aggregate outstanding principal amount of Revolving Loans shall not exceed ONE up to FOUR HUNDRED TWENTY-FIVE MILLION DOLLARS ($100,000,000425,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.42.6, the "REVOLVING COMMITTED AMOUNTRevolving Committed Amount")) for the purposes hereinafter set forth; PROVIDEDprovided, FURTHERhowever, that (Ai) with regard to each Revolving Lender individually, the sum of such Lender's outstanding Revolving Loans shall not exceed such Lender's Revolving Commitment Percentage of the aggregate principal amount of outstanding Revolving Committed Amount, Loans plus such Revolving Lender's Revolving Commitment Percentage of outstanding Swingline Loans plus such Revolving Lender's Revolving Commitment Percentage of outstanding LOC Obligations shall not exceed such Revolving Lender's Revolving Commitment and (Bii) with regard to the Revolving Lenders collectively, the sum of the aggregate outstanding principal amount of outstanding Revolving Loans PLUS plus outstanding Swingline Loans plus outstanding LOC Obligations PLUS Swingline Loans shall not exceed the Revolving Committed AmountAmount then in effect. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Alternate Base Rate Loans or Eurodollar LIBOR Rate Loans, or a combination thereof, as the Borrower may request; PROVIDED, HOWEVER, that no more than 15 Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof; provided, however, the Revolving Loans made on the Closing Date or any of the three (3) Business Days following the Closing Date, may only consist of Alternate Base Rate Loans unless the Borrower delivers a funding indemnity letter, substantially in the form of Exhibit 2.1(a), reasonably acceptable to the Administrative Agent not less than three (3) Business Days prior to the Closing Date; provided, further, that any such Alternate Base Rate Loans may be converted to LIBOR Rate Loans in accordance with Section 2.9. LIBOR Rate Loans shall be made by each Revolving Lender at its LIBOR Lending Office and Alternate Base Rate Loans at its Domestic Lending Office.
Appears in 1 contract
Revolving Commitment. Subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth herein, each Revolving Lender severally agrees to make available to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANSRevolving Loans") to the Borrowers from time to time from the Closing Date until the Maturity Termination Date, or such earlier date as the Revolving Commitments shall have been terminated as provided hereinherein for the purposes hereinafter set forth; PROVIDEDprovided, HOWEVERhowever, that the sum of the aggregate outstanding principal amount of outstanding Revolving Loans shall not exceed ONE the Revolving Committed Amount and; provided, further, (i) with regard to each Revolving Lender individually, such Revolving Lender's share of outstanding Revolving Loans shall not exceed such Revolving Lender's Revolving Commitment Percentage of the Revolving Committed Amount, (ii) with regard to the Revolving Lenders collectively, the aggregate principal amount of outstanding Revolving Obligations shall no exceed TWO HUNDRED TWENTY MILLION DOLLARS ($100,000,000220,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.4, the "REVOLVING COMMITTED AMOUNTRevolving Committed Amount"); PROVIDED, FURTHER, ) and (Aiii) with regard to each Lender individuallythe Revolving Lenders collectively, such Lender's outstanding Revolving Loans shall not exceed such Lender's Revolving Commitment Percentage the aggregate principal amount of the Revolving Committed Amount, and (B) the sum of the aggregate outstanding principal amount of Revolving Loans PLUS LOC Obligations PLUS Swingline Loans shall not exceed the Revolving Committed Amount. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Base Rate Loans or Eurodollar Loans, or a combination thereof, as the Borrower Borrowers may request, and may be repaid and reborrowed in accordance with the provisions hereof; PROVIDEDprovided, HOWEVERhowever, that no more than 15 six Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for time. For purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same datedate and have the same duration, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof.
Appears in 1 contract
Revolving Commitment. Subject During the Commitment Period, subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth hereinhereof, each Revolving Lender severally severally, but neither jointly nor jointly and severally, agrees to ratably make available to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANS"each a “Revolving Loan”) and Letters of Credit in Dollars (or any other currency agreed to by the applicable LC Issuer) to the Borrowers for the purposes hereinafter set forth from time to time from in an aggregate principal Dollar Amount not to exceed the Closing Date until lesser of: (w) the Maturity DateMaximum Revolver Amount, or (x) such earlier date as Lender’s Revolving Commitment, (y) the Borrowing Base and (z) the Revolving Commitments shall have been terminated as provided hereinLine Cap; PROVIDED(the amounts set forth in clauses (w) through (z), HOWEVERcollectively, the “Revolving Committed Amount”) (such facility, the “Revolving Facility”); provided, however, that the sum of the aggregate outstanding principal amount of Revolving Loans shall not exceed ONE HUNDRED MILLION DOLLARS ($100,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.4, the "REVOLVING COMMITTED AMOUNT"); PROVIDED, FURTHER, (A) with regard to each Revolving Lender individually, the sum of such Revolving Lender's outstanding Revolving Loans shall not exceed such Lender's ’s Revolving Commitment Percentage of the aggregate principal Dollar Amount of outstanding Revolving Committed Amount, Loans plus such Revolving Lender’s Revolving Commitment Percentage of outstanding Swingline Loans plus such Revolving Lender’s Revolving Commitment Percentage of outstanding LC Obligations shall not exceed such Revolving Lender’s Revolving Commitment and (B) with regard to the sum of Revolving Lenders collectively, the aggregate outstanding principal amount of Revolving Loans PLUS LOC Obligations PLUS Swingline Loans Credit Outstandings shall not exceed the Revolving Committed Amount. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Base Rate Loans or Eurodollar Loans, or a combination thereof, as the Borrower may request; PROVIDED, HOWEVER, that no more than 15 Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, Amount then in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period)effect. Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof.
Appears in 1 contract
Revolving Commitment. Subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth herein, each Lender severally agrees to make available to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANSRevolving Loans") up to such Lender's Revolving Commitment from time to time from the Closing Date until the Maturity Termination Date, or such earlier date as the Revolving Commitments shall have been terminated as provided hereinherein for the purposes hereinafter set forth; PROVIDEDprovided, HOWEVERhowever, that the sum of the aggregate outstanding principal amount of outstanding Revolving Loans shall not exceed ONE FOUR HUNDRED MILLION DOLLARS ($100,000,000400,000,000.00) (as such aggregate maximum amount may be reduced from time to time as provided in Section Sections 3.3 and 3.4, the "REVOLVING COMMITTED AMOUNTRevolving Committed Amount"); PROVIDEDprovided, FURTHERfurther, (Ai) with regard to each Lender individually, such Lender's outstanding Revolving Loans shall not exceed such Lender's Revolving Commitment Percentage of the Revolving Committed AmountCommitment, and (Bii) with regard to the sum of Lenders collectively, the aggregate outstanding principal amount of outstanding Revolving Loans PLUS LOC Obligations PLUS plus the aggregate principal amount of outstanding Competitive Loans plus the aggregate principal amount of outstanding Swingline Loans shall not exceed the Revolving Committed Amount. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Base Rate Loans or Eurodollar Loans, or a combination thereof, as the Borrower may request, and may be repaid and reborrowed in accordance with the provisions hereof; PROVIDEDprovided, HOWEVERhowever, that no more than 15 25 Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for time. For purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof.
Appears in 1 contract
Sources: Credit Agreement (Autozone Inc)
Revolving Commitment. Subject During the Commitment Period, subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth hereinhereof, each Revolving Lender severally severally, but not jointly, agrees to make available revolving credit loans ("Revolving Loans") to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANS") from time to time from the Closing Date until the Maturity Date, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDED, HOWEVER, that the sum of the in an aggregate outstanding principal amount of Revolving Loans shall not exceed ONE HUNDRED MILLION up to FIFTEEN Million DOLLARS ($100,000,00015,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.42.6, the "REVOLVING COMMITTED AMOUNTRevolving Committed Amount")) for the purposes hereinafter set forth; PROVIDEDprovided, FURTHERhowever, that (Ai) with regard to each Revolving Lender individually, the sum of such Lender's outstanding Revolving Loans shall not exceed such Lender's Revolving Commitment Percentage of outstanding Revolving Loans plus such Revolving Lender's Revolving Commitment Percentage of outstanding Swingline Loans plus such Revolving Lender's Revolving Commitment Percentage of LOC Obligations shall not exceed such Revolving Lender's Revolving Commitment and (ii) with regard to the Revolving Committed AmountLenders collectively, and (B) the sum of the aggregate outstanding principal amount of Revolving Loans PLUS plus outstanding Swingline Loans plus LOC Obligations PLUS Swingline Loans shall not exceed the Revolving Committed Amount. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Alternate Base Rate Loans or Eurodollar LIBOR Rate Loans, or a combination thereof, as the Borrower may request; PROVIDED, HOWEVER, that no more than 15 Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof; provided, however, Revolving Loans made on the Closing Date or on any of the three (3) Business Days following the Closing Date may only consist of Alternate Base Rate Loans. LIBOR Rate Loans shall be made by each Revolving Lender at its LIBOR Lending Office and Alternate Base Rate Loans at its Domestic Lending Office.
Appears in 1 contract
Revolving Commitment. Subject During the Commitment Period, subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth hereinhereof, each Lender severally agrees to make available revolving credit loans (“Revolving Loans”) to the Borrower from time to time for the purposes hereinafter set forth; provided, however, that (i) with regard to each Lender individually, the sum of such Lender's ’s share of outstanding Revolving Loans plus such Lender’s LOC Commitment Percentage of LOC Obligations shall not exceed such Lender’s Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars aggregate Revolving Committed Amount, and ("REVOLVING LOANS"ii) from time with regard to time from the Closing Date until the Maturity DateLenders collectively, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDED, HOWEVER, that the sum of the aggregate outstanding principal amount of outstanding Revolving Loans plus LOC Obligations shall not exceed ONE HUNDRED the aggregate Revolving Committed Amount then in effect. For purposes hereof, the aggregate amount available hereunder shall be SIXTEEN MILLION DOLLARS ($100,000,00016,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.42.4, the "REVOLVING COMMITTED AMOUNT"); PROVIDED, FURTHER, (A) with regard to each Lender individually, such Lender's outstanding Revolving Loans shall not exceed such Lender's Revolving Commitment Percentage of the “Revolving Committed Amount, and (B) the sum of the aggregate outstanding principal amount of Revolving Loans PLUS LOC Obligations PLUS Swingline Loans shall not exceed the Revolving Committed Amount”). The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Base Floating LIBOR Rate Loans or Eurodollar Fixed LIBOR Rate Loans, or a combination thereof, as the Borrower may request; PROVIDED, HOWEVER, that no more than 15 Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof; provided, however, the Revolving Loans made on the Closing Date or on either of the two Business Days immediately following the Closing Date may only consist of Floating LIBOR Rate Loans. Fixed LIBOR Rate Loans shall be made by each Lender at its LIBOR Lending Office and Floating LIBOR Rate Loans at its Domestic Lending Office.
Appears in 1 contract
Revolving Commitment. Subject During the Commitment Period, subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth hereinhereof, each Revolving Lender severally severally, but not jointly, agrees to make available revolving credit loans in Dollars (“Revolving Loans”) to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANS") from time to time from the Closing Date until the Maturity Date, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDED, HOWEVER, that the sum of the in an aggregate outstanding principal amount of Revolving Loans shall not exceed ONE HUNDRED up to TEN MILLION DOLLARS ($100,000,00010,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.42.6, the "REVOLVING COMMITTED AMOUNT"“Revolving Committed Amount”) for the purposes hereinafter set forth (such facility, the “Revolving Facility”); PROVIDEDprovided, FURTHERhowever, that (Ai) with regard to each Revolving Lender individually, the sum of such Revolving Lender's outstanding Revolving Loans shall not exceed such Lender's ’s Revolving Commitment Percentage of the aggregate principal amount of outstanding Revolving Committed Amount, Loans plus such Revolving Lender’s Revolving Commitment Percentage of outstanding Swingline Loans plus such Revolving Lender’s Revolving Commitment Percentage of outstanding LOC Obligations shall not exceed such Revolving Lender’s Revolving Commitment and (Bii) with regard to the Revolving Lenders collectively, the sum of the aggregate outstanding principal amount of outstanding Revolving Loans PLUS plus outstanding Swingline Loans plus outstanding LOC Obligations PLUS Swingline Loans shall not exceed the Revolving Committed AmountAmount then in effect. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Alternate Base Rate Loans or Eurodollar SOFR Loans, or a combination thereof, as the Borrower may request; PROVIDED, HOWEVER, that no more than 15 Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof.
Appears in 1 contract
Sources: Credit Agreement (Fluent, Inc.)
Revolving Commitment. Subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth herein, each Lender severally agrees to make available to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANSRevolving Loans") from time to time from the Closing Date until the Maturity Date, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDEDprovided, HOWEVERhowever, that the sum of the aggregate outstanding principal amount of Revolving Loans plus the aggregate amount of Swing Line Loans outstanding plus the outstanding LOC Obligations shall not exceed ONE HUNDRED EIGHTY-FIVE MILLION DOLLARS ($100,000,00085,000,000.00) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.4, the "REVOLVING COMMITTED AMOUNTRevolving Committed Amount"); PROVIDEDprovided, FURTHERfurther, (A) with regard to each Lender individually, such Lender's outstanding Revolving Loans plus its Participation Interests in Letters of Credit or LOC Obligations plus its Participation Interests in Swing Line Loans shall not exceed such Lender's Revolving Commitment Percentage of the Revolving Committed Amount, and (B) the sum of the aggregate outstanding principal amount of Revolving Loans PLUS LOC Obligations PLUS Swingline Loans shall not exceed the Revolving Committed Amount. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Base Rate Loans or Eurodollar Loans, or a combination thereof, as the Borrower may request; PROVIDEDprovided, HOWEVERhowever, that no more than 15 10 Eurodollar Loans which are Revolving Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof.
Appears in 1 contract
Sources: Credit Agreement (Aaipharma Inc)
Revolving Commitment. Subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth hereinin this Agreement, each Lender of the Lenders severally agrees to make available lend to the Borrower, and Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars may borrow ("REVOLVING LOANS"and repay and reborrow) from time to time from between the Closing Date until and the Maturity DateDate upon notice by Borrower to Agent given in accordance with §2.5, or such earlier date sums as are requested by Borrower for the purposes set forth in §2.7 up to a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to the lesser of (i) such Lender’s Revolving Commitments shall have been terminated as provided herein; PROVIDEDCommitment minus such Lender’s Percentage of Outstanding Swing Line Loans and Letters of Credit, HOWEVER, that the sum and (ii) such Lender’s Percentage of the aggregate Borrowing Base minus (A) such Lender’s Percentage of Outstanding Swing Line Loans and Letters of Credit, minus (B) such Lender’s Outstanding Term Loan minus (C) such Lender’s Percentage of the outstanding principal amount of the loans under the MGP/UPS Credit Facility; provided, that, in all events no Default or Event of Default shall have occurred and be continuing, or shall result therefrom. The Revolving Loans shall not exceed ONE HUNDRED MILLION DOLLARS ($100,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.4, the "REVOLVING COMMITTED AMOUNT"); PROVIDED, FURTHER, (A) with regard to each Lender individually, such Lender's outstanding Revolving Loans shall not exceed such Lender's Revolving Commitment Percentage of the Revolving Committed Amount, and (B) the sum of the aggregate outstanding principal amount of Revolving Loans PLUS LOC Obligations PLUS Swingline Loans shall not exceed the Revolving Committed Amount. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Base Rate Loans or Eurodollar Loans, or a combination thereof, as the Borrower may request; PROVIDED, HOWEVER, that no more than 15 Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, made pro rata in accordance with the provisions hereof, be combined at the end of existing Interest Periods to each Lender’s Percentage. Each request for a Revolving Loan hereunder shall constitute a new Eurodollar Loan with a single Interest Period)representation and warranty by Borrower that all of the conditions set forth in §10 and §11, as applicable, have been satisfied on the date of such request. No Lender shall have any obligation to make Revolving Loans hereunder may be repaid and reborrowed to Borrower in accordance with the provisions hereofan aggregate principal amount outstanding which exceeds such Lender’s Revolving Commitment.
Appears in 1 contract
Sources: Revolving Credit Agreement (CorEnergy Infrastructure Trust, Inc.)
Revolving Commitment. Subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth herein, each Lender severally agrees to make available to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANSCommitted Revolving Loans") to the Borrowers from time to time from the Closing Date until the Maturity Dateday 364 days after the date hereof, or such later date if such date is extended pursuant to this Section 2.1(a) or such earlier date as the Revolving Commitments shall have been terminated as provided hereinherein (the "Termination Date") for the purposes hereinafter set forth; PROVIDEDprovided, HOWEVERhowever, that (i) with regard to each Lender individually, the sum of such Lender's share of outstanding Committed Revolving Loans (other than Committed Revolving Loans made for the purpose of repaying Competitive Loans but not yet so applied) shall not exceed such Lender's Revolving Committed Amount, and (ii) with regard to the Lenders collectively, the sum of the aggregate outstanding principal amount of outstanding Committed Revolving Loans (other than Committed Revolving Loans made for the purpose of repaying Competitive Loans but not yet so applied) plus the aggregate amount of Competitive Loans (other than Competitive Loans made for the purpose of repaying Committed Revolving Loans but not yet so applied) shall not exceed ONE TWO HUNDRED FIFTY MILLION DOLLARS ($100,000,000250,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.4time, the "REVOLVING COMMITTED AMOUNT"); PROVIDED, FURTHER, (A) with regard to each Lender individually, such Lender's outstanding Revolving Loans shall not exceed such Lender's Revolving Commitment Percentage of the Revolving Committed Amount, and (B) the sum of the aggregate outstanding principal amount of Revolving Loans PLUS LOC Obligations PLUS Swingline Loans shall not exceed the Revolving "). Committed Amount. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Base Rate Loans or Eurodollar Loans, or a combination thereof, as the Borrower Borrowers may request, and may be prepaid or repaid and reborrowed in accordance with the provisions hereof; PROVIDEDprovided, HOWEVERhowever, that no more than 15 ten (10) Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for time. For purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period. Either Borrower may, within ninety (90) days prior to the Termination Date, by notice to the Agent, make written request of the Lenders to extend the Termination Date for an additional period of 364 days. Each of the Lenders must consent to any such extension (subject to the Borrowers' right to terminate or replace the Commitments of non-consenting Lenders as set forth below). Revolving The Agent will give prompt notice to each of the Lenders of its receipt of any such request for extension of the Termination Date. Each Lender shall make a determination not later than thirty (30) days prior to the then applicable Termination Date as to whether or not it will agree to extend the Termination Date as requested; provided, however, that failure by any Lender to make a timely response to the Borrowers' request for extension of the Termination Date shall be deemed to constitute a refusal by the Lender to extend the Termination Date. If, in response to a request for an extension of the Termination Date, each of the Lenders agrees to the requested extension, then the Termination Date shall be extended for the requested additional period of 364 days. If, however, in response to a request for an extension of the Termination Date, one or more Lenders shall fail to agree to the requested extension (the "Disapproving Lenders"), then the Borrowers shall have the right (so long as all Disapproving Lenders are treated as described in either clauses (A) or (B) below) to either (A) replace each such Disapproving Lender with one or more Replacement Lenders pursuant to Section 3.15 so long as at the time of such replacement, each such Replacement Lender consents to the proposed extension of the Termination Date or (B) terminate such Disapproving Lender's Commitment and repay all outstanding Loans hereunder may be of such Disapproving Lender in accordance with Sections 3.3(c) and 3.3(f), provided that, unless the Commitments terminated and Loans repaid pursuant to the preceding clause (B) are immediately replaced in full at such time through the addition of new Lenders or the increase of the Commitments and/or outstanding Loans of existing Lenders (who in each case must specifically consent to any such increase), then in the case of any action pursuant to the preceding clause (B), subject to the following proviso, the Required Lenders (determined before giving effect to the proposed action) shall specifically consent to such termination of Commitment and reborrowed repayment of Loans, provided further, notwithstanding the foregoing proviso, each of the Lenders (other than the Lender whose Commitment is being terminated) shall specifically consent to such termination of Commitment and repayment of Loans if the aggregate amount of Commitments terminated pursuant to this Section 2.1(a) (including the proposed termination) plus the aggregate amount of Commitments terminated pursuant to Section 3.17 plus the aggregate amount of Commitments terminated pursuant to Section 11.6(b) shall exceed $35,000,000. If, prior to the applicable Termination Date, the Borrowers either replace or terminate the Commitments of the Disapproving Lenders in accordance with the provisions hereofforegoing terms, then the Termination Date shall be extended for the requested additional period of 364 days. If, however, the Borrowers fail to either replace or terminate the Commitments of the Disapproving Lenders prior to the applicable Termination Date in accordance with the foregoing terms, then the Termination Date shall not be extended for the requested additional period of 364 days.
Appears in 1 contract
Sources: Credit Agreement (Promus Hotel Corp)