Revolving Credit Loans; Optional Currency Loans Clause Samples
The "Revolving Credit Loans; Optional Currency Loans" clause defines the terms under which a borrower can access a line of credit that can be drawn, repaid, and redrawn, and specifies the ability to borrow in different approved currencies. In practice, this means the borrower may request advances in various currencies up to a certain limit, and can repay and re-borrow funds as needed, subject to the lender's approval and currency availability. This clause provides flexibility for borrowers to manage their cash flow and currency needs efficiently, addressing the practical challenge of operating in multiple currencies and requiring ongoing access to credit.
Revolving Credit Loans; Optional Currency Loans. Subject to the terms and conditions hereof and relying upon the representations and warranties herein set forth, each Lender severally agrees to make Revolving Credit Loans in either Dollars or one or more Optional Currencies to the Borrower at any time or from time to time on or after the date hereof to the Expiration Date; provided that after giving effect to each such Loan (i) the aggregate Dollar Equivalent amount of Revolving Credit Loans from such Lender shall not exceed such Lender’s Revolving Credit Commitment minus such Lender’s Ratable Share of the Letter of Credit Obligations and outstanding Swing Loans, (ii) the Revolving Facility Usage shall not exceed the aggregate Revolving Credit Commitments of the Lenders, (iii) no Revolving Credit Loan to which the Base Rate Option applies shall be made in an Optional Currency, and (iv) the aggregate Dollar Equivalent principal amount of Revolving Credit Loans made in an Optional Currency (each, an “Optional Currency Loan”) shall not exceed $75,000,000 (the “Optional Currency Sublimit”). Within such limits of time and amount and subject to the other provisions of this Agreement, the Borrower may borrow, repay and reborrow pursuant to this Section 2.1.
Revolving Credit Loans; Optional Currency Loans. Subject to the terms and conditions hereof and relying upon the representations and warranties herein set forth, the terms and conditions governing Existing Revolving Loans shall be amended and restated in their entirety to provide for an amended and restated revolving credit facility under which each Lender severally agrees to make Revolving Credit Loans in either Dollars or one or more Optional Currencies to the Borrowers at any time or from time to time on or after the date hereof to the Expiration Date; provided that after giving effect to each such Loan (i) the aggregate Dollar Equivalent amount of Revolving Credit Loans from such Lender shall not exceed such Lender’s Revolving Credit Commitment minus such Lender’s Ratable Share of the outstanding Swing Loans and Letter of Credit Obligations, (ii) the Revolving Facility Usage shall not exceed the Revolving Credit Commitments, (iii) no Revolving Credit Loan to which the Base Rate Option applies shall be made in an Optional Currency and (iv) the aggregate Dollar Equivalent principal amount of Revolving Credit Loans made in any Optional Currency (each an “Optional Currency Loan”) shall not exceed $100,000,000 (the “Optional Currency Sublimit”). Within such limits of time and amount and subject to the other provisions of this Agreement, the Borrowers may borrow, repay and reborrow pursuant to this Section 2.1 [Revolving Credit Commitments]. The Existing Revolving Loans shall, upon and subject to the terms and conditions of this Agreement, including Section 7 [Conditions of Lending and Issuance of Letters of Credit] hereof, be refinanced with an initial advance of Revolving Credit Loans on the Closing Date (with such Revolving Credit Loans advanced on the Closing Date being pursuant to the respective Ratable Shares of the Lenders), and all commitments for revolving credit under the Existing Credit Agreement thereupon shall be terminated.
Revolving Credit Loans; Optional Currency Loans. Order shall have the meaning specified in Section 2.9.9 [
Revolving Credit Loans; Optional Currency Loans. Subject to the terms and conditions hereof and relying upon the representations and warranties herein set forth, each Lender severally agrees to make Revolving Credit Loans in either Dollars or one or more Optional Currencies to the Borrower at any time or from time to time on or after the date hereof to the Expiration Date; provided that after giving effect to each such Loan (i) the aggregate Dollar Equivalent amount of Revolving Credit Loans from such Lender shall not exceed such Lender’s Revolving Credit Commitment minus such Lender’s Ratable Share of the outstanding Swing Loans and Letter of Credit Obligations, (ii) the Revolving Facility Usage shall not exceed the Revolving Credit Commitments, and (iii) no Revolving Credit Loan to which the Base Rate Option applies shall be made in an Optional Currency. Within such limits of time and amount and subject to the other provisions of this Agreement, the Borrower may borrow, repay and reborrow pursuant to this Section 2.1. The Borrower may request, not more than sixty (60) and not less than thirty (30) days prior to each anniversary of the Closing Date, in writing to the Administrative Agent that the Expiration Date applicable to the Revolving Credit Loans and Revolving Credit Commitments be extended for an additional one (1) year period (provided, however, that the Borrower may not receive more than two (2) such one (1) year extensions). The Lenders and Administrative Agent may approve such request, in their sole and absolute discretion, in writing, prior to such anniversary of the Closing Date. The Loan Parties will provide such financial and other information, documents and instruments as the Administrative Agent and Lenders may reasonably request in connection with any such extension request.
Revolving Credit Loans; Optional Currency Loans. 59 2.1.2. Swing Loan Commitment 59 2.1.3. Certain Limitations 59 2.1.4. Reallocation 59 2.2. Nature of Lenders’ Obligations with Respect to Revolving Credit Loans 60 2.3. Commitment Fees 60
Revolving Credit Loans; Optional Currency Loans. Subject to the terms and conditions hereof and relying upon the representations and warranties herein set forth, each Bank severally agrees to make Revolving Credit Loans in either Dollars or one or more Optional
Revolving Credit Loans; Optional Currency Loans. Subject to the terms and conditions hereof and relying upon the representations and warranties herein set forth, each Lender severally agrees to make Revolving Credit Loans in either Dollars or one or more Optional Currencies to the Borrower at any time or from time to time on or after the date hereofClosing Date to the Expiration Date; provided that after