Common use of Revolving Commitments Clause in Contracts

Revolving Commitments. (a) Subject to the terms and conditions hereof, each Revolving Lender severally agrees to make revolving credit loans (“Revolving Loans”) to the Borrower in Agreed Currencies from time to time during the Revolving Availability Period in an aggregate principal amount at any one time outstanding which, (i) when added to such Lender’s Revolving Percentage of the L/C Obligations then outstanding, subject to Sections 1.3 and 4.2(h), does not exceed the amount of such Lender’s Revolving Commitment and (ii) subject to Section 1.3 and 4.2(h), will not result in the Dollar Amount of any Lender’s Revolving Credit Exposure and L/C Exposure, in each case denominated in Foreign Currencies, exceeding the Foreign Currency Sublimit. During the Revolving Availability Period the Borrower may use the Revolving Commitments by borrowing, prepaying and reborrowing the Revolving Loans in whole or in part, all in accordance with the terms and conditions hereof. The Revolving Loans may from time to time be Eurocurrency Loans or ABR Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 3.2 and 4.3. Subject to Section 3.15, each Revolving Loan shall be comprised entirely of ABR Loans or Eurocurrency Loans as the Borrower may request in accordance herewith; provided that each ABR Loan shall only be made in Dollars. Each Lender at its option may make any Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan (and in the case of an Affiliate, the provisions applicable to a Lender of Revolving Loans hereunder shall apply to such Affiliate to the same extent as to such Lender); provided that any exercise of such option shall not affect the obligation of the Borrower to repay such Loan in accordance with the terms of this Agreement.

Appears in 6 contracts

Samples: Credit Agreement (On Semiconductor Corp), Credit Agreement (On Semiconductor Corp), Credit Agreement (On Semiconductor Corp)

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Revolving Commitments. (a) Subject to the terms and conditions hereof, each Revolving Lender severally agrees to make revolving credit loans (“Revolving Loans”) in Dollars and in any Optional Currency to the Borrower in Agreed Currencies or any Subsidiary Borrower from time to time during the Revolving Availability Commitment Period in an aggregate principal amount at any one time outstanding which, which will not result (after giving effect to any application of proceeds of such Borrowing pursuant to Section 2.6(b)) in (i) when added to the outstanding principal amount of such Lender’s Revolving Percentage Extensions of the L/C Obligations then outstanding, subject to Sections 1.3 and 4.2(h), does not exceed Credit exceeding the amount of such Lender’s Revolving Commitment and or (ii) subject to Section 1.3 and 4.2(h), will not result in the Dollar Amount Total Revolving Extensions of any Lender’s Revolving Credit Exposure and L/C Exposure, in each case denominated in Foreign Currencies, exceeding the Foreign Currency Sublimitaggregate Revolving Commitments. During the Revolving Availability Commitment Period the Borrower and any Subsidiary Borrower may use the Revolving Commitments by borrowing, prepaying and reborrowing the Revolving Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. The Revolving Loans may from time to time be Eurocurrency Loans or ABR Loans, as determined by the Borrower or any Subsidiary Borrower and notified to the Administrative Agent in accordance with Sections 3.2 2.5 and 4.32.12. Subject to Section 3.15, each Revolving Loan ABR Loans shall be comprised entirely of ABR Loans or Eurocurrency Loans as the Borrower may request in accordance herewith; provided that each ABR Loan shall denominated only be made in Dollars. Each Lender at its option may make any Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan (and in the case of an Affiliate, the provisions applicable to a Lender of Revolving Loans hereunder shall apply to such Affiliate to the same extent as to such Lender); provided that any exercise of such option shall not affect the obligation of the Borrower to repay such Loan in accordance with the terms of this Agreement.

Appears in 6 contracts

Samples: Credit Agreement (Avis Budget Group, Inc.), Credit Agreement (Avis Budget Group, Inc.), Credit Agreement (Avis Budget Group, Inc.)

Revolving Commitments. (a) Subject to the terms and conditions hereof, each Revolving Lender severally agrees to make revolving credit loans (“Revolving Loans”) to the Borrower in Agreed Currencies Dollars from time to time during the Revolving Availability Commitment Period in an aggregate principal amount at any one time outstanding which, (i) when added to such Lender’s Revolving Percentage of the sum of (i) the L/C Obligations then outstanding and (ii) the aggregate principal amount of the Swingline Loans then outstanding, subject to Sections 1.3 and 4.2(h), does not exceed the amount of such Lender’s Revolving Commitment and Commitment; provided, that the aggregate amount of Revolving Loans made on the Closing Date shall not exceed $5,000,000 (ii) subject which shall not include the Existing Letters of Credit which are deemed to be outstanding under this Agreement pursuant to Section 1.3 and 4.2(h3.9), will not result in the Dollar Amount of any Lender’s Revolving Credit Exposure and L/C Exposure, in each case denominated in Foreign Currencies, exceeding the Foreign Currency Sublimit. During the Revolving Availability Period Commitment Period, the Borrower may use the Revolving Commitments by borrowing, prepaying and reborrowing the Revolving Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. The Revolving Loans may from time to time be Eurocurrency Eurodollar Loans or ABR Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 3.2 2.5 and 4.3. Subject to Section 3.15, each Revolving Loan shall be comprised entirely of ABR Loans or Eurocurrency Loans as the Borrower may request in accordance herewith; provided that each ABR Loan shall only be made in Dollars. Each Lender at its option may make any Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan (and in the case of an Affiliate, the provisions applicable to a Lender of Revolving Loans hereunder shall apply to such Affiliate to the same extent as to such Lender); provided that any exercise of such option shall not affect the obligation of the Borrower to repay such Loan in accordance with the terms of this Agreement2.12.

Appears in 6 contracts

Samples: Credit Agreement (Dave & Buster's Entertainment, Inc.), Credit Agreement (Dave & Busters Inc), Credit Agreement (Dave & Busters Inc)

Revolving Commitments. (a) Subject to the terms and conditions hereof, each Revolving Lender severally agrees to make revolving credit loans (each, a “Revolving Loan” and, collectively, the “Revolving Loans”) to the Borrower in Agreed Currencies from time to time during the Revolving Availability Commitment Period in an aggregate principal amount at any one time outstanding which, (i) when added to such Lender’s (i) Revolving Percentage of the aggregate outstanding amount of the Swingline Loans and (ii) L/C Obligations then outstanding, subject to Sections 1.3 and 4.2(h)Exposure, does not exceed the amount of such Lender’s Revolving Commitment Commitment. In addition, (i) the Total Revolving Extensions of Credit shall not at any time exceed the Total Revolving Commitments in effect at such time and (ii) subject to Section 1.3 and 4.2(h), will borrowings under the Revolving Commitments on the Closing Date shall not result in exceed the Dollar Amount of any Lender’s Initial Revolving Credit Exposure and L/C Exposure, in each case denominated in Foreign Currencies, exceeding the Foreign Currency SublimitBorrowing. During the Revolving Availability Period Commitment Period, the Borrower may use the Revolving Commitments by borrowing, prepaying and reborrowing the Revolving Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. The Revolving Loans may from time to time be Eurocurrency Eurodollar Loans or ABR Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 3.2 2.5 and 4.32.13. Subject to Section 3.15, each Revolving Loan The Borrower shall be comprised entirely of ABR Loans or Eurocurrency Loans as the Borrower may request in accordance herewith; provided that each ABR Loan shall only be made in Dollars. Each Lender at its option may make any Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan (and in the case of an Affiliate, the provisions applicable to a Lender of repay all outstanding Revolving Loans hereunder shall apply to such Affiliate to on the same extent as to such Lender); provided that any exercise of such option shall not affect the obligation of the Borrower to repay such Loan in accordance with the terms of this AgreementRevolving Termination Date.

Appears in 4 contracts

Samples: Credit Agreement (Ribbon Communications Inc.), Credit Agreement (Ribbon Communications Inc.), Credit Agreement (Ribbon Communications Inc.)

Revolving Commitments. (a) Subject to the terms and conditions hereof, each Revolving Lender severally agrees to make revolving credit loans (each, a “Revolving Loan” and, collectively, the “Revolving Loans”) to the Borrower in Agreed Currencies from time to time during the Revolving Availability Commitment Period in an aggregate principal amount with respect to all such Revolving Loans at any one time outstanding which, (i) when added to such Lender’s the aggregate principal amount of any then outstanding Revolving Percentage Loans, any Swingline Loans, the aggregate undrawn amount of all then outstanding Letters of Credit, and the aggregate amount of all L/C Obligations then outstandingDisbursements that have not yet been reimbursed or converted into Revolving Loans, subject incurred on behalf of the Borrower and owing to Sections 1.3 and 4.2(h)such Lender, does not exceed the amount of such Lender’s Revolving Commitment and (ii) subject Commitment. In addition, the amount of the Total Revolving Extensions of Credit outstanding after giving effect to Section 1.3 and 4.2(h), will any requested borrowing of Revolving Loans shall not result exceed the Available Revolving Commitments then in the Dollar Amount of any Lender’s Revolving Credit Exposure and L/C Exposure, in each case denominated in Foreign Currencies, exceeding the Foreign Currency Sublimiteffect. During the Revolving Availability Period Commitment Period, the Borrower may use the Available Revolving Commitments by borrowing, prepaying and reborrowing the Revolving Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. The Revolving Loans may from time to time be Eurocurrency Eurodollar Loans or ABR Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 3.2 2.5 and 4.32.11. Subject Notwithstanding anything to Section 3.15the contrary contained herein, each during the existence and continuation of an Event of Default, no Revolving Loan shall may be comprised entirely of ABR Loans borrowed as, converted to or Eurocurrency Loans continued as the Borrower may request in accordance herewith; provided that each ABR Loan shall only be made in Dollars. Each Lender at its option may make any Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan (and in the case of an Affiliate, the provisions applicable to a Lender of Revolving Loans hereunder shall apply to such Affiliate to the same extent as to such Lender); provided that any exercise of such option shall not affect the obligation of the Borrower to repay such Loan in accordance with the terms of this AgreementEurodollar Loan.

Appears in 1 contract

Samples: Credit Agreement (Extreme Networks Inc)

Revolving Commitments. (a) Subject to the terms and conditions hereof, each Revolving Lender severally agrees to make revolving credit loans (each, a “Revolving Loan” and, collectively, the “Revolving Loans”) to the Borrower in Agreed Currencies from time to time during the Revolving Availability Commitment Period in an aggregate principal amount with respect to all such Revolving Loans at any one time outstanding which, (i) when added to such Lender’s Revolving Percentage the Dollar Equivalent of each of the aggregate outstanding amount of any Revolving Loans, any Swingline Loans, the aggregate undrawn amount of all outstanding Letters of Credit, and the aggregate amount of all L/C Obligations then outstanding2125320.12125320.11 Disbursements that have not yet been reimbursed or converted into Revolving Loans, subject incurred on behalf of the Borrower and owing to Sections 1.3 and 4.2(h)such Lender, does not exceed the amount of such Lender’s Revolving Commitment Commitment. In addition, (i) the amount of the Total Revolving Extensions of Credit outstanding at such time shall not exceed the Total Revolving Commitments in effect at such time and (ii) subject to Section 1.3 and 4.2(h), will not result in the Dollar Amount Equivalent of any Lender’s all Revolving Credit Exposure Loans funded in Foreign Currencies and the aggregate L/C Exposure, in each case denominated in Exposure with respect to Foreign Currencies, exceeding Currency Letters of Credit shall not exceed the Foreign Currency Sublimit. During the Revolving Availability Commitment Period the Borrower may use the Revolving Commitments by borrowing, prepaying and reborrowing the Revolving Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. The Revolving Loans may from time to time be Eurocurrency Loans or ABR Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 3.2 2.5 and 4.32.13. Subject Notwithstanding anything to Section 3.15the contrary contained herein, each during the existence of an Event of Default, no Revolving Loan shall may be comprised entirely of ABR Loans borrowed as, converted to or continued as a Eurocurrency Loans as the Borrower may request in accordance herewith; provided that each ABR Loan shall only be made in Dollars. Each Lender at its option may make any Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan (and in the case of an Affiliate, the provisions applicable to a Lender of Revolving Loans hereunder shall apply to such Affiliate to the same extent as to such Lender); provided that any exercise of such option shall not affect the obligation of the Borrower to repay such Loan in accordance with the terms of this AgreementLoan.

Appears in 1 contract

Samples: Credit Agreement (Fitbit Inc)

Revolving Commitments. (a) Subject to the terms and conditions hereof, each Revolving Lender severally agrees to make revolving credit loans (“Revolving Loans”) to the Borrower in Agreed Currencies from time to time during the Revolving Availability Commitment Period in an aggregate principal amount at any one time outstanding which, (i) when added to such Lender’s Revolving Percentage of the sum of (i) the L/C Obligations then outstanding and (ii) the aggregate principal amount of the Swingline Loans then outstanding, subject to Sections 1.3 and 4.2(h), does not exceed on any date the amount lesser of (A) such Lender’s Revolving Commitment and (iiB) subject such Lender’s Revolving Percentage of (x) if the Parent Guarantee is executed and delivered to the Administrative Agent on or prior to January 14, 2009 (1) until such execution and delivery, $50,000,000 and (2) thereafter, the Total Revolving Commitment and (y) if the Parent Guarantee is not executed and delivered to the Administrative Agent on or prior to January 14, 2009, at all times $50,000,000 (the amount applicable at any time pursuant to the foregoing clause (x) or (y), as the same may be adjusted pursuant to Section 1.3 and 4.2(h2.21, the “Maximum Outstanding Amount” at such time), will not result . References in the Dollar immediately preceding sentence to $50,000,000 shall not be affected by any Revolving Commitment Increase Amount (except to the extent such Revolving Commitment Increase Amount results in the Maximum Outstanding Amount being reinstated to up to $50,000,000 following the termination of any Lender’s Revolving Credit Exposure and L/C Exposure, in each case denominated in Foreign Currencies, exceeding the Foreign Currency SublimitCommitment pursuant to Section 2.21). During the Revolving Availability Commitment Period the Borrower may use the Revolving Commitments by borrowing, prepaying and reborrowing the Revolving Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. The Revolving Loans may from time to time be Eurocurrency Eurodollar Loans or ABR Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 3.2 2.2 and 4.3. Subject to Section 3.15, each Revolving Loan shall be comprised entirely of ABR Loans or Eurocurrency Loans as the Borrower may request in accordance herewith; provided that each ABR Loan shall only be made in Dollars. Each Lender at its option may make any Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan (and in the case of an Affiliate, the provisions applicable to a Lender of Revolving Loans hereunder shall apply to such Affiliate to the same extent as to such Lender); provided that any exercise of such option shall not affect the obligation of the Borrower to repay such Loan in accordance with the terms of this Agreement2.9.

Appears in 1 contract

Samples: Credit Agreement (Loral Space & Communications Inc.)

Revolving Commitments. (a) Subject to the terms and conditions hereof, each US Dollar Revolving Lender severally agrees to make revolving credit loans to the Parent Borrower and to the Subsidiary Borrower in US Dollars ("US Dollar Revolving Loans") to the Borrower in Agreed Currencies from time to time during the Revolving Availability Commitment Period in an aggregate principal amount at any one time outstanding which, (i) when added to such US Dollar Lender’s 's Revolving Percentage of the sum of the L/C Obligations then outstanding, subject to Sections 1.3 and 4.2(h), does not exceed the amount of such Lender’s 's US Dollar Revolving Commitment (the "Revolving Loans"). Notwithstanding the above, in no event shall any Revolving Loan be made or Letter of Credit be issued, if, after giving effect to such making or issuance and the use of proceeds thereof as directed by the Parent Borrower or the Subsidiary Borrower, as the case may be, the Total Revolving Extensions of Credit would exceed the lesser of (i) the Total Revolving Commitments or (ii) subject the Borrowing Base as of the date of the most recent Borrowing Base Certificate furnished to the Administrative Agent pursuant to Section 1.3 and 4.2(h), will not result in the Dollar Amount of any Lender’s Revolving Credit Exposure and L/C Exposure, in each case denominated in Foreign Currencies, exceeding the Foreign Currency Sublimit5.1(m) or Section 6.2(f) hereof. During the Revolving Availability Period Commitment Period, the Borrower Borrowers may use the Revolving Commitments by borrowing, prepaying and reborrowing the Revolving Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. The Revolving Loans may from time to time be Eurocurrency Loans or ABR Alternate Base Rate Loans, as determined by the Parent Borrower or the Subsidiary Borrower, as the case may be, and notified to the Administrative Agent in accordance with Sections 3.2 2.5 and 4.3. Subject to Section 3.15, each Revolving Loan shall be comprised entirely of ABR Loans or Eurocurrency Loans as the Borrower may request in accordance herewith; provided that each ABR Loan shall only be made in Dollars. Each Lender at its option may make any Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan (and in the case of an Affiliate, the provisions applicable to a Lender of Revolving Loans hereunder shall apply to such Affiliate to the same extent as to such Lender); provided that any exercise of such option shall not affect the obligation of the Borrower to repay such Loan in accordance with the terms of this Agreement2.10.

Appears in 1 contract

Samples: Act Manufacturing Inc

Revolving Commitments. (a) Subject to the terms and conditions hereof, each the Revolving Lender Lenders severally agrees agree to make revolving credit loans (“Revolving Loans”) Loans to the Borrower in Agreed Currencies from time to time during the Revolving Availability Commitment Period in an aggregate principal amount with respect to all such Revolving Loans at any one time outstanding whichwhich does not exceed an amount equal to the difference between (A) the Total Revolving Commitments, and (B) the sum of (1) the aggregate principal amount of all Swingline Loans outstanding at such time, (i2) when added to the aggregate amount of all Revolving Loans outstanding at such Lender’s Revolving Percentage time, (3) the aggregate undrawn amount of all Letters of Credit outstanding at such time, and (4) the aggregate amount of all L/C Obligations Disbursements that have not yet been reimbursed or converted into Revolving Loans at such time. In addition, after giving effect to any requested borrowing of Revolving Loans, (x) the amount of the Total Revolving Extensions of Credit then outstanding, subject to Sections 1.3 and 4.2(h), does outstanding shall not exceed the lesser of (I) the Total Revolving Commitments at such time, and (II) the Borrowing Base at such time, and (y) the aggregate amount of the Revolving Extensions of Credit of each such Lender’s Revolving Lender shall not exceed the respective Revolving Commitment and (ii) subject to Section 1.3 and 4.2(h), will not result in the Dollar Amount of any such Revolving Lender’s Revolving Credit Exposure and L/C Exposure, in each case denominated in Foreign Currencies, exceeding the Foreign Currency Sublimit. During the Revolving Availability Period the Commitment Period, Borrower may use the Revolving Commitments by borrowing, prepaying and reborrowing the Revolving Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. The Each Revolving Loans Loan may from time to time be Eurocurrency Loans a Eurodollar Loan or an ABR LoansLoan, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 3.2 2.5 and 4.3. Subject to Section 3.15, each Revolving Loan shall be comprised entirely of ABR Loans or Eurocurrency Loans as the Borrower may request in accordance herewith; provided that each ABR Loan shall only be made in Dollars. Each Lender at its option may make any Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan (and in the case of an Affiliate, the provisions applicable to a Lender of Revolving Loans hereunder shall apply to such Affiliate to the same extent as to such Lender); provided that any exercise of such option shall not affect the obligation of the Borrower to repay such Loan in accordance with the terms of this Agreement2.13.

Appears in 1 contract

Samples: Credit Agreement (Ultra Clean Holdings Inc)

Revolving Commitments. (a) Subject Each of the Revolving Lenders, severally and for itself alone, agrees to make loans to the Company on a revolving basis ("REVOLVING LOANS"), from time to time until the Termination Date in such Revolving Lender's Revolving Percentage of such aggregate amounts as the Company may request from all Revolving Lenders under the Revolving Commitments and (b) the Issuing Lender agrees to issue standby letters of credit to support the Surety Bond Facility, in each case containing such terms and conditions hereofas are permitted by this Agreement and are reasonably satisfactory to the Issuing Lender (each a "LETTER OF Credit"), for the account of one or more of the Construction Business Debtors from time to time before the Termination Date and, as more fully set forth in SECTION 2.4, each Revolving Lender severally agrees to make revolving credit loans purchase a participation in each such Letter of Credit; PROVIDED that (i) (x) the aggregate principal amount of outstanding Revolving Loans”) to the Borrower in Agreed Currencies Loans will not at any time exceed $11,167,451.12 (as reduced from time to time during pursuant to SECTION 6.1, the Revolving Availability Period in an "REVOLVING LOAN COMMITMENT AMOUNT") and (y) the aggregate principal amount Stated Amount of all Letters of Credit shall not at any one time outstanding which, exceed $7,500,000 (i) when added to such Lender’s Revolving Percentage of the L/C Obligations then outstanding, subject to Sections 1.3 and 4.2(h), does not exceed the amount of such Lender’s Revolving Commitment and (ii) subject to Section 1.3 and 4.2(h), will not result in the Dollar Amount of any Lender’s Revolving Credit Exposure and L/C Exposure, in each case denominated in Foreign Currencies, exceeding the Foreign Currency Sublimit. During the Revolving Availability Period the Borrower may use the Revolving Commitments by borrowing, prepaying and reborrowing the Revolving Loans in whole or in part, all in accordance with the terms and conditions hereof. The Revolving Loans may as reduced from time to time pursuant to SECTION 6.1, the "LC COMMITMENT AMOUNT"), (ii) the Revolving Outstandings at any time shall not exceed the Commitment Amount in effect at such time (IT BEING UNDERSTOOD that, subject to the limitations set forth herein, Letters of Credit shall be Eurocurrency Loans or ABR Loans, as determined available up to the lesser of the full amount authorized by the Borrower Interim Financing Order and notified to the Administrative Agent in accordance with Sections 3.2 LC Commitment Amount) and 4.3. Subject to Section 3.15(iii) if at any time all or substantially all the assets, each Revolving Loan shall be comprised entirely or all or substantially all the interest of ABR Loans or Eurocurrency Loans as the Borrower may request in accordance herewith; provided that each ABR Loan shall only be made in Dollars. Each Lender at Company and its option may make any Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan (and Subsidiaries in the case Capital Stock of an Affiliateall three Construction Business Debtors have been sold to a Person that is not a Debtor, the provisions applicable Commitment to a Lender issue Letters of Revolving Loans Credit hereunder shall apply to such Affiliate to the same extent as to such Lender); provided that any exercise of such option shall not affect the obligation of the Borrower to repay such Loan in accordance with the terms of this Agreementshall, automatically and without further action, terminate.

Appears in 1 contract

Samples: Credit Agreement (U S Aggregates Inc)

Revolving Commitments. (a) Subject to the terms and conditions hereofhereof and relying upon the representations and warranties herein set forth, each Revolving Lender agrees, severally agrees and not jointly, to make revolving credit loans (“Revolving Loans”) Loans and M&E Revolving Loans to the Borrower Borrowers in Agreed Currencies Dollars from time to time during the Revolving Availability Period in an aggregate principal amount at any one time outstanding which, (i) when added to such Lender’s Revolving Percentage of the L/C Obligations then outstanding, subject to Sections 1.3 and 4.2(h), does not exceed the amount of such Lender’s Revolving Commitment and (ii) subject to Section 1.3 and 4.2(h), that will not result in the Dollar Amount of any (i) such Revolving Lender’s Revolving Credit Exposure and L/C Exposureexceeding such Revolving Lender’s Revolving Commitment, in each case denominated in Foreign Currencies, (ii) the Total M&E Revolving Loan Outstandings exceeding the Foreign Currency SublimitEligible Equipment Amount, and (iii) the Total Revolving Outstandings exceeding the Line Cap (other than any Overadvances or Protective Advances to the extent permitted hereunder). During Within the Revolving Availability Period the Borrower may use the Revolving Commitments by borrowing, prepaying foregoing limits and reborrowing the Revolving Loans in whole or in part, all in accordance with subject to the terms and conditions hereof. The set forth herein, during the Availability Period, the Borrowers may borrow, prepay and reborrow Revolving Loans; provided however, that any M&E Revolving Loans that are prepaid or repaid may from time to time not be Eurocurrency Loans or ABR reborrowed. (f) Section 2.2(b) “Borrowing of Revolving Loans, as determined ” is replaced in its entirety with the following: (b) Each notice by the Borrower and notified Agent pursuant to Section 2.2(a) shall be made by submitting such request by ABLSoft (or, if requested by the Administrative Agent Agent, by delivering, in accordance with Sections 3.2 writing or by an Approved Electronic Communication, a Borrowing Request in the form of Exhibit C) (each such request, a “Borrowing Request”), appropriately completed and 4.3. Subject to Section 3.15, each Revolving Loan shall be comprised entirely signed by a Responsible Officer of ABR Loans or Eurocurrency Loans as the Borrower may request in accordance herewith; provided that each ABR Loan shall only be made in DollarsAgent. Each Lender at its option may make any Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan (and in the case of an Affiliate, the provisions applicable to a Lender Borrowing of Revolving Loans hereunder shall apply to such Affiliate to be in a minimum principal amount of $100,000 or a whole multiple of $100,000 in excess thereof. Each Borrowing Request shall specify (A) the same extent as to such Lender); provided that any exercise of such option shall not affect the obligation requested date of the Borrower Borrowing (which shall be a Business Day), (B) the principal amount of Loans to repay be borrowed, and (C) if such Loan Loans shall be M&E Revolving Loans. (g) Section 2.5(b)(iii) “Application of Mandatory Prepayments is replaced in accordance its entirety with the terms of this Agreement.following: (iii)

Appears in 1 contract

Samples: Credit Agreement (Emcore Corp)

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Revolving Commitments. (a) Subject to the terms and conditions hereof, each Revolving Lender severally agrees to make revolving credit loans (“Revolving Loans”) to the Borrower in Agreed Currencies from time to time during the Revolving Availability Period in an aggregate principal amount at any one time outstanding which, (i) when added to such LenderXxxxxx’s Revolving Percentage of the L/C Obligations then outstanding, subject to Sections 1.3 and 4.2(h), does not exceed the amount of such Lender’s Revolving Commitment and (ii) subject to Section 1.3 and 4.2(h), will not result in the Dollar Amount of any Lender’s Revolving Credit Exposure and L/C Exposure, in each case denominated in Foreign Currencies, exceeding the Foreign Currency Sublimit. During the Revolving Availability Period the Borrower may use the Revolving Commitments by borrowing, prepaying and reborrowing the Revolving Loans in whole or in part, all in accordance with the terms and conditions hereof. The Revolving Loans may from time to time be Eurocurrency EurocurrencySOFR Loans or ABR Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 3.2 and 4.3. Subject to Section 3.15, each Revolving Loan shall be comprised entirely of ABR Loans or Eurocurrency EurocurrencySOFR Loans as the Borrower may request in accordance herewith; provided that each ABR Loan shall only be made in Dollars. Each Lender at its option may make any Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan (and in the case of an Affiliate, the provisions applicable to a Lender of Revolving Loans hereunder shall apply to such Affiliate to the same extent as to such Lender); provided that any exercise of such option shall not affect the obligation of the Borrower to repay such Loan in accordance with the terms of this Agreement.

Appears in 1 contract

Samples: Credit Agreement (On Semiconductor Corp)

Revolving Commitments. Each Revolving Lender severally and not jointly agrees, during the Availability Period, (a1) Subject to on the terms and conditions hereof, each Revolving Lender severally agrees hereinafter set forth to make revolving credit loans (“Revolving Loans”) Advances denominated in Dollars or Alternative Currencies to the any Borrower in Agreed Currencies from time to time during and (2) in the event that any Revolving Availability Period Lender (other than an Initial Lender) shall have become a Non-Funding Lender, to make Supplemental Advances (each, collectively with any supplemental advances made pursuant to Section 2.01(b) below, a “Supplemental Advance”) denominated in Dollars or Alternative Currencies, as applicable, on the Closing Date to any Borrower in an amount deemed to be requested by such Borrower under Section 2.05, in the case of each of clauses (1) and (2), in an aggregate principal amount at that would not result (after giving effect to any one time outstanding which, application of proceeds from such Advances pursuant to Section 2.03(a)) in (i) when added to such Lender’s Revolving Percentage of the L/C Obligations then outstanding, subject to Sections 1.3 and 4.2(h), does not exceed the amount Dollar Equivalent of such Lender’s Revolving Commitment and Credit Exposure exceeding such Lender’s Revolving Commitment, (ii) subject to Section 1.3 and 4.2(h), will not result in the Dollar Amount Equivalent of any Lender’s the Aggregate Revolving Credit Exposure exceeding the Aggregate Revolving Commitments and L/C Exposure, in each case (iii) the Dollar Equivalent of the Aggregate Revolving Credit Exposure denominated in Foreign Currencies, Alternative Currencies exceeding the Foreign Alternative Currency Sublimit. During Additionally, prior to the Revolving Availability Period Closing Date, no extensions of credit may be made under the Closing Date Revolver Portion. Each Borrowing shall be in an aggregate amount equal to the Applicable Minimum Amount and shall consist of Advances of the same Type and currency made on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Commitment, each Borrower may use the Revolving Commitments by borrowingborrow under this Section 2.01(a), prepaying prepay Advances pursuant to Section 2.12 and reborrowing the Revolving Loans in whole or in part, all in accordance with the terms and conditions hereofreborrow under this Section 2.01(a). The Revolving Loans may from time to time be Eurocurrency Loans or ABR Loans, as determined by the Borrower and notified Notwithstanding anything to the Administrative Agent contrary in accordance with Sections 3.2 and 4.3. Subject to Section 3.15this Agreement or any other Loan Document, each no Revolving Loan Lender shall be comprised entirely of ABR Loans or Eurocurrency Loans as the Borrower may request in accordance herewith; provided that each ABR Loan shall only be made in Dollars. Each Lender at its option may make any Loan by causing any domestic or foreign branch or Affiliate of such Lender Revolving Advance to make such Loan (and in the case of an Affiliate, the provisions applicable to a Lender of Revolving Loans hereunder shall apply to such Affiliate New HoldCo prior to the same extent as to such Lender); provided that any exercise of such option shall not affect the obligation of the Borrower to repay such Loan in accordance with the terms of this AgreementClosing Date.

Appears in 1 contract

Samples: Credit Agreement (Steris Corp)

Revolving Commitments. (a) Subject to the terms and conditions hereof, each Revolving Lender severally agrees to make revolving credit loans (“Revolving Loans”) to the Borrower in Agreed Currencies from time to time during the Revolving Availability Period in an aggregate principal amount at any one time outstanding which, (i) when added to such Lender’s Revolving Percentage of the L/C Obligations then outstanding, subject to Sections 1.3 and 4.2(h), does not exceed the amount of such Lender’s Revolving Commitment and (ii) subject to Section 1.3 and 4.2(h), will not result in the Dollar Amount of any Lender’s Revolving Credit Exposure and L/C Exposure, in each case denominated in Foreign Currencies, exceeding the Foreign Currency Sublimit. During the Revolving Availability Period the Borrower may use the Revolving Commitments by borrowing, prepaying and reborrowing the Revolving Loans in whole or in part, all in accordance with the terms and conditions hereof. The Revolving Loans may from time to time be Eurocurrency Loans or ABR Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 3.2 and 4.3. Subject to Section 3.15, each Revolving Loan shall be comprised entirely of ABR Loans or Eurocurrency Loans as the Borrower may request in accordance herewith; provided that each ABR Loan shall only be made in Dollars. Each Lender at its option may make any Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan (and in the case of an Affiliate, the provisions applicable to a Lender of Revolving Loans hereunder shall apply to such Affiliate to the same extent as to such Lender); provided that any exercise of such option shall not affect the obligation of the Borrower to repay such Loan in accordance with the terms of this Agreement.

Appears in 1 contract

Samples: Credit Agreement (On Semiconductor Corp)

Revolving Commitments. Administrative Agent shall have received (ai) Subject commitments from banks and other financial institutions with respect to the terms and conditions hereof, each Revolving Lender severally agrees Facility to make revolving credit loans (“Revolving Loans”) to be established on the Borrower in Agreed Currencies from time to time during the Revolving Availability Period Restatement Closing Date in an aggregate principal amount at any one time outstanding which, (i) when added equal to such Lender’s Revolving Percentage of the L/C Obligations then outstanding, subject to Sections 1.3 and 4.2(h), does not exceed the amount of such Lender’s Revolving Commitment $200,000,000 and (ii) subject as applicable, a fully executed Lender Addendum with respect to Section 1.3 such bank or other financial institution commitment to provide such Revolving Commitments (and 4.2(hpursuant to which, on the Restatement Closing Date, such bank or other financial institution shall become a Lender for all purposes under the Credit Agreement) or (y) a fully executed Conversion Notice with respect to each Existing Lender with a Revolving Commitment electing to convert its Revolving Commitment to a Revolving Commitment under the Credit Agreement as amended hereby (and pursuant to which on the Restatement Closing Date, all of the outstanding Revolving Loans and Revolving Commitments held by such Continuing Lender shall convert into Revolving Loans and Revolving Commitments under the Credit Agreement as amended hereby); it being agreed and understood that delivery of a fully executed Conversion Notice by a Continuing Lender shall be deemed to constitute an authorization by such Continuing Lender directing Administrative Agent to execute this Agreement. Each Continuing Lender, will not result in the Dollar Amount of any having delivered its Lender Consent and Conversion Notice, and each new Lender’s Revolving Credit Exposure , having delivered its Lender Addendum, and L/C Exposure, in each case denominated in Foreign Currencieshaving funded a Loan on the Restatement Closing Date, exceeding the Foreign Currency Sublimit. During the Revolving Availability Period the Borrower may use the Revolving Commitments acknowledged receipt of, and consented to and approved, each Credit Document and each other document required to be approved by borrowingany Agent, prepaying and reborrowing the Revolving Loans in whole Requisite Lenders or in part, all in accordance with the terms and conditions hereof. The Revolving Loans may from time to time be Eurocurrency Loans or ABR LoansLenders, as determined by applicable on the Borrower and notified to the Administrative Agent in accordance with Sections 3.2 and 4.3. Subject to Section 3.15, each Revolving Loan shall be comprised entirely of ABR Loans or Eurocurrency Loans as the Borrower may request in accordance herewith; provided that each ABR Loan shall only be made in Dollars. Each Lender at its option may make any Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan (and in the case of an Affiliate, the provisions applicable to a Lender of Revolving Loans hereunder shall apply to such Affiliate to the same extent as to such Lender); provided that any exercise of such option shall not affect the obligation of the Borrower to repay such Loan in accordance with the terms of this AgreementRestatement Closing Date.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Eagle Rock Energy Partners, L.P.)

Revolving Commitments. (a) Subject to the terms and conditions hereof, each Revolving Lender severally agrees to make revolving credit loans (each, a “Revolving Loan” and, collectively, the “Revolving Loans”) to the Borrower in Agreed Currencies from time to time during the Revolving Availability Commitment Period in an aggregate principal amount at any one time outstanding which, (i) when added to such Lender’s Revolving Percentage the aggregate undrawn amount of all outstanding Letters of Credit and the aggregate amount of all L/C Obligations then outstandingDisbursements that have not yet been reimbursed or converted into Revolving Loans, subject incurred on behalf of the Borrower and owing to Sections 1.3 and 4.2(h)such Lender, does not exceed the amount of such Lender’s Revolving Commitment Commitment. In addition, such aggregate obligations shall not at any time exceed the lesser of (i) the Total Revolving Commitments at such time and (ii) subject to Section 1.3 and 4.2(h), will not result in the Dollar Amount Borrowing Base at such time. No Revolving Extension of Credit shall be outstanding on the Closing Date. No portion of the Revolving Loans shall be funded with “plan assets” of any Lender’s Revolving Credit Exposure and L/C Exposure, in each case denominated in Foreign Currencies, exceeding “benefit plan investor” within the Foreign Currency Sublimitmeaning of Section 3(42) of ERISA. During the Revolving Availability Commitment Period the Borrower may use the Revolving Commitments by borrowing, prepaying and reborrowing the Revolving Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. The Revolving Loans may from time to time be Eurocurrency Eurodollar Loans or ABR Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 3.2 2.5 and 4.3. Subject to Section 3.15, each Revolving Loan shall be comprised entirely of ABR Loans or Eurocurrency Loans as the Borrower may request in accordance herewith; provided that each ABR Loan shall only be made in Dollars. Each Lender at its option may make any Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan (and in the case of an Affiliate, the provisions applicable to a Lender of Revolving Loans hereunder shall apply to such Affiliate to the same extent as to such Lender); provided that any exercise of such option shall not affect the obligation of the Borrower to repay such Loan in accordance with the terms of this Agreement2.13.

Appears in 1 contract

Samples: Credit Agreement (Cambium Networks Corp)

Revolving Commitments. Borrower shall have the right to terminate or reduce the aggregate unused amount of the Revolving Commitments (afor which purpose use of the Revolving Commitments shall be deemed to include the aggregate amount of all Letter of Credit Liabilities and the aggregate principal amount of all outstanding Swingline Loans) Subject to the terms at any time and conditions hereof, each Revolving Lender severally agrees to make revolving credit loans (“Revolving Loans”) to the Borrower in Agreed Currencies from time to time during the Revolving Availability Period in an aggregate principal amount at any one time outstanding whichwithout penalty or premium upon not less than five (5) Business Days prior written notice to Administrative Agent of each such termination or reduction (each, (i) when added to such Lender’s Revolving Percentage of the L/C Obligations then outstanding, subject to Sections 1.3 and 4.2(ha “Commitment Reduction Notice”), does not exceed which Commitment Reduction Notice shall specify the effective date thereof and the amount of any such Lender’s Revolving Commitment and reduction (ii) subject to Section 1.3 and 4.2(h), will not result in the Dollar Amount of any Lender’s Revolving Credit Exposure and L/C Exposure, in each case denominated in Foreign Currencies, exceeding the Foreign Currency Sublimit. During the Revolving Availability Period the Borrower may use the Revolving Commitments by borrowing, prepaying and reborrowing the Revolving Loans in whole or in part, all in accordance with the terms and conditions hereof. The Revolving Loans may from time to time be Eurocurrency Loans or ABR Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 3.2 and 4.3. Subject to Section 3.15, each Revolving Loan shall be comprised entirely of ABR Loans or Eurocurrency Loans as the Borrower may request in accordance herewith; provided that each ABR Loan shall only be made in Dollars. Each Lender at its option may make any Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan (and which in the case of an Affiliateany partial reduction of the Revolving Commitments shall not be less than $25,000,000 and integral multiples of $5,000,000 in excess of that amount in the aggregate) and shall be irrevocable once given and effective only upon receipt by Administrative Agent; provided, however, Borrower may not reduce the provisions applicable to aggregate amount of the Revolving Commitments below $100,000,000 unless Borrower is terminating the Revolving Commitments in full. Promptly after receipt of a Commitment Reduction Notice, Administrative Agent shall notify each Lender of the proposed termination or Revolving Commitment reduction. The Revolving Commitments, once reduced or terminated pursuant to this Section, may not be increased or reinstated. Borrower shall pay all interest and fees on the Revolving Loans hereunder shall apply to such Affiliate accrued to the same extent as to such Lender); provided that any exercise date of such option shall not affect the obligation reduction or termination of the Borrower Revolving Commitments to repay such Loan Administrative Agent for the account of the Revolving Lenders, including but not limited to any applicable compensation due to each Revolving Lender in accordance with the terms of this AgreementSection 3.05.

Appears in 1 contract

Samples: Credit Agreement (American Realty Capital Trust IV, Inc.)

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