Common use of Revolving Credit Loans Clause in Contracts

Revolving Credit Loans. (a) Subject to the terms and conditions set forth in this Agreement, each of the Lenders severally agrees to lend to the Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Maturity Date upon notice by the Borrower to the Agent given in accordance with ss.2.7, such sums as are requested by the Borrower for the purposes set forth in ss.2.9 up to a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) plus the Letters of Credit Outstanding at any one time equal to such Lender's Revolving Credit Commitment; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested) plus the Letters of Credit Outstanding shall not at any time exceed the total Maximum Commitment Amount or cause a violation of the covenant set forth in ss.9.1. The Revolving Credit Loans shall be made pro rata in accordance with each Lender's Revolving Credit Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrower that all of the conditions set forth in ss.10 and ss.11 have been satisfied on the date of such request. No Lender shall have any obligation to make Revolving Credit Loans to Borrower in the maximum aggregate principal outstanding balance of more than the principal face amount of its Revolving Credit Note.

Appears in 1 contract

Samples: Master Credit Agreement (Entertainment Properties Trust)

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Revolving Credit Loans. (a) Subject to the terms and conditions set forth in this Agreement, each of the Revolving Credit Lenders severally agrees to lend to the Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Revolving Credit Maturity Date upon notice by the Borrower to the Agent given in accordance with ss.2.7§2.7(a), such sums as are requested by the Borrower for the purposes set forth in ss.2.9 §2.9 up to a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) plus the Letters of Credit Outstanding at any one time equal to the lesser of (i) such Lender's ’s Revolving Credit CommitmentCommitment and (ii) such Lender’s Revolving Credit Commitment Percentage of the sum of (A) the Unencumbered Pool Availability minus (B) the sum of (1) the amount of all outstanding Revolving Credit Loans, Term Loans and Swing Loans, (2) the aggregate amount of Letter of Credit Liabilities and (3) the aggregate amount of all other Unsecured Indebtedness; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested) ), Term Loans, Swing Loans and Letter of Credit Liabilities plus the Letters aggregate amount of Credit Outstanding all other Unsecured Indebtedness shall not at any time exceed the total Maximum Commitment Amount or cause a violation of the covenant set forth in ss.9.1§9.1. The Revolving Credit Loans shall be made pro rata in accordance with each Revolving Credit Lender's ’s Revolving Credit Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrower that all of the conditions set forth in ss.10 required of the Bxxxxxxx xxx xxxxx xx §00 and ss.11 §11 have been satisfied on the date of such request. The Agent may assume that the conditions in §10 and §11 have been satisfied unless it receives prior written notice from a Revolving Credit Lender that such conditions have not been satisfied. No Revolving Credit Lender shall have any obligation to make Revolving Credit Loans to the Borrower or participate in Letter of Credit Liabilities in the maximum aggregate principal outstanding balance of more than the lesser of the amount equal to its Revolving Credit Commitment Percentage of the Revolving Credit Commitments and the principal face amount of its Revolving Credit Note.

Appears in 1 contract

Samples: Senior Unsecured Credit Agreement (American Realty Capital Healthcare Trust Inc)

Revolving Credit Loans. (a) Subject to the terms and conditions set forth in this AgreementAgreement and the Post Closing Letter, each of the Revolving Credit Lenders severally agrees to lend to the Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Revolving Credit Maturity Date upon notice by the Borrower to the Agent given in accordance with ss.2.7§2.8, such sums as are requested by the Borrower for the purposes set forth in ss.2.9 §2.10 up to a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) plus the Letters of Credit Outstanding at any one time equal to the lesser of (i) such Lender's Revolving Credit CommitmentLender’s Revolving Credit Commitment and (ii) such Revolving Credit Lender’s Revolving Credit Commitment Percentage of (A) the Borrowing Base Availability minus (B) the amount of all outstanding Revolving Credit Exposure; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested) plus the Letters of Credit Outstanding shall not at any time exceed the total Maximum Commitment Amount or cause a violation of the covenant set forth in ss.9.1. The Revolving Credit Loans shall be made pro rata in accordance with each Revolving Credit Lender's ’s Revolving Credit Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrower that all of the conditions required of Borrower set forth in ss.10 §10 and ss.11 §11 have been satisfied (unless waived by Agent in writing) on the date of such request (or if such condition is required to have been satisfied only as of the initial Closing Date, that such condition was satisfied as of the Closing Date), or to the extent all of the conditions required of Xxxxxxxx xxx xxxxx xx §00 and §11 are not satisfied or deemed satisfied (unless waived by Agent in writing) as of the date of such request, such shall not result in any Material Adverse Effect. The Agent may assume that the conditions in §10 and §11 have been satisfied (unless waived by Agent in writing) unless it receives prior written notice from a Revolving Credit Lender that such conditions have not been satisfied or waived. No Revolving Credit Lender shall have any obligation to make Revolving Credit Loans to Borrower in the maximum aggregate principal outstanding balance of more than the principal face amount of its Revolving Credit NoteNote or its Commitment, as applicable.

Appears in 1 contract

Samples: Credit Agreement (Plymouth Industrial REIT Inc.)

Revolving Credit Loans. (a) Subject to the terms and conditions set forth in this Agreement, each of the Lenders severally agrees to lend to the Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Maturity Date upon notice by the Borrower to the Agent given in accordance with ss.2.7§2.6, such sums as are requested by the Borrower for the purposes set forth in ss.2.9 §2.8 up to a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) plus the Letters of Credit Outstanding at any one time equal to such Lender's Revolving Credit ’s Commitment; provided, that, in all events no Default or Event of Default shall have occurred and be continuingcontinuing or would arise as a result thereof; and provided, further, that the outstanding principal amount of the Revolving Credit Loans and Swing Loans and the Letter of Credit Liabilities (after giving effect to all amounts requested) plus the Letters of Credit Outstanding ), shall not at any time exceed the total Maximum Total Commitment Amount or cause a violation of the covenant covenants set forth in ss.9.1§9.1. The Revolving Credit Loans shall be made pro rata in accordance with each Lender's Revolving Credit ’s Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrower that all of the conditions set forth in ss.10 and ss.11 required of Xxxxxxxx xxx xxxxx xx §00 have been satisfied on the date of such request. The Agent may assume that the conditions in §11 have been satisfied unless it receives prior written notice from a Lender that such conditions have not been satisfied. No Lender shall have any obligation to make Revolving Credit Loans to the Borrower in the maximum aggregate principal outstanding balance of more than the principal face amount of its Revolving Credit Note.

Appears in 1 contract

Samples: Credit Agreement (Mid-America Apartments, L.P.)

Revolving Credit Loans. (a) Subject to Each Lender severally agrees, on the terms and conditions hereinafter set forth in this Agreementforth, each of the Lenders severally agrees to lend make Loans to the Borrower, and the Borrower may borrow (and repay and reborrow) Company from time to time between on any Business Day during the period from the Closing Date and until the Maturity Date upon notice by the Borrower in an aggregate amount not to the Agent given in accordance with ss.2.7, such sums as are requested by the Borrower for the purposes set forth in ss.2.9 up to a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) plus the Letters of Credit Outstanding exceed at any one time equal to outstanding such Lender's Revolving Credit Commitment, provided, that, the Lenders shall not be obligated to, and shall not, make any Loans as part of a Revolving Credit Borrowing if after giving effect to such Revolving Credit Borrowing the sum of the then outstanding aggregate amount of all Revolving Credit Borrowings and the then outstanding aggregate amount of all Letter of Credit Liability shall exceed the aggregate amount of the Commitments then in effect. Each Revolving Credit Borrowing shall be in an aggregate amount of $5.0 million or an integral multiple of $1.0 million in excess thereof; provided, that, in all events no Default or Event the case of Default shall have occurred and be continuing; and providedany Revolving Credit Borrowing made for the purpose of reimbursing a drawing under any Letter of Credit, further, that (A) the outstanding principal aggregate amount of the such Revolving Credit Loans Borrowing shall be not less than $1.0 million and (after giving effect to all amounts requestedB) plus if the Letters aggregate amount of such Revolving Credit Outstanding Borrowing is less than $5.0 million, such Revolving Credit Borrowing shall not at any time exceed the total Maximum Commitment Amount or cause a violation consist solely of the covenant Base Rate Loans. Except as set forth in ss.9.1. The clause (B) of the preceding sentence, each Revolving Credit Borrowing shall consist of Loans shall be of the same Type made pro rata in accordance with on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender's Revolving Credit Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation Commitment, Company from time to time may borrow under this Section 2.1, prepay pursuant to Section 2.6 and warranty by the Borrower that all of the conditions set forth in ss.10 and ss.11 have been satisfied on the date of such request. No Lender shall have any obligation to make Revolving Credit Loans to Borrower in the maximum aggregate principal outstanding balance of more than the principal face amount of its Revolving Credit Notereborrow under this Section 2.1.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Sanmina-Sci Corp)

Revolving Credit Loans. (a) Subject to the terms and conditions set forth in of this Agreement, each of the Lenders Lender severally agrees to lend make Loans in a Permitted Currency to the Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between from the Closing Date and through the Maturity Revolving Credit Termination Date upon notice by the Borrower to the Agent given in accordance with ss.2.7, such sums as are requested by the Borrower for in accordance with the purposes set forth in ss.2.9 up to a maximum terms of Section 2.2; provided, that (a) the Dollar Amount of the aggregate principal amount of all outstanding (after giving effect to all amounts requested) plus the Letters of Credit Outstanding at any one time equal to such Lender's Revolving Credit Commitment; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts any amount requested) plus shall not exceed the Letters Aggregate Commitment less the Dollar Amount of Credit Outstanding all outstanding L/C Obligations, (b) the Dollar Amount of the aggregate principal amount of all Loans made in an Alternative Currency shall not exceed the Alternative Currency Commitment and (c) the Dollar Amount of the aggregate principal amount of outstanding Loans from any Lender to the Borrower shall not at any time exceed the total Maximum such Lender's Commitment Amount or cause less such Lender's Available Commitment. Each Loan by a violation Lender shall be in a principal amount equal to such Lender's Commitment Percentage of the covenant set forth aggregate principal amount of Loans requested on such occasion. Loans to be made in ss.9.1an Alternative Currency shall be funded in an amount equal to the Alternative Currency Amount of such Loan. The Subject to the terms and conditions hereof, the Borrower may borrow, repay and reborrow Loans hereunder until the Revolving Credit Loans shall be made pro rata in accordance with each Lender's Revolving Credit Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrower that all of the conditions set forth in ss.10 and ss.11 have been satisfied on the date of such request. No Lender shall have any obligation to make Revolving Credit Loans to Borrower in the maximum aggregate principal outstanding balance of more than the principal face amount of its Revolving Credit NoteTermination Date.

Appears in 1 contract

Samples: Unconditional Guaranty Agreement (Quintiles Transnational Corp)

Revolving Credit Loans. (a) Subject to the terms and conditions set forth in this Agreement, each of the Revolving Credit Lenders severally agrees to lend to the Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Revolving Credit Maturity Date upon notice by the Borrower to the Agent given in accordance with ss.2.7§2.7,2.6, such sums as are requested by the Borrower for the purposes set forth in ss.2.9 §2.92.8 up to a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) plus the Letters of Credit Outstanding at any one time equal to the lesser of (i) such Lender's Revolving Credit CommitmentLender’s Revolving Credit Commitment and (ii) such Revolving Credit Lender’s Revolving CreditLender’s Commitment Percentage of the sum of (A) the Borrowing Base Availability minus (B) the sum of (1) the amount of all outstanding Revolving Credit Loans and Swing Loans, and (2) the aggregate amount of Letter of Credit Liabilities; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested) plus the Letters ), Swing Loans and Letter of Credit Outstanding Liabilities shall not at any time exceed the total Maximum Total Revolving Credit Commitment Amount and the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested), Swing Loans, Term Loans and Letter of Credit Liabilities shall not at any time exceed the Total Commitment. or cause a violation of the covenant set forth in ss.9.1§9.1. The Revolving Credit Loans shall be made pro rata in accordance with each Revolving Credit Lender's ’s Revolving Credit Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrower that all of the conditions set forth in ss.10 required of the Xxxxxxxx xxx xxxxx xx §00 and ss.11 §11 have been satisfied on the date of such request. The Agent may assume that the conditions in §10 and §11 have been satisfied unless it receives prior written notice from a Revolving Credit Lender that such conditions have not been satisfied. No Revolving Credit Lender shall have any obligation to make Revolving Credit Loans to the Borrower in the maximum aggregate principal outstanding balance of more than the principal face amount of its Revolving Credit Note.

Appears in 1 contract

Samples: Credit Agreement (Behringer Harvard Reit I Inc)

Revolving Credit Loans. (a) Subject to the terms and conditions set forth in this Agreement, each of the Revolving Credit Lenders severally agrees to lend to the Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Revolving Credit Maturity Date upon notice by the Borrower to the Agent given in accordance with ss.2.7§2.7, such sums as are requested by the Borrower for the purposes set forth in ss.2.9 §2.9 up to a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) plus the Letters of Credit Outstanding at any one time equal to the lesser of (i) such Lender's Revolving Credit CommitmentLender’s Revolving Credit Commitment and (ii) such Revolving Credit Lender’s Revolving Credit Commitment Percentage of the sum of (A) the Unencumbered Pool Availability minus (B) the sum of (1) the amount of all Outstanding Revolving Credit Loans and Term Loans, and (2) the aggregate amount of all Letter of Credit Liabilities; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount sum of the Outstanding Revolving Credit Loans (after giving effect to all amounts requested) plus and the Letters aggregate amount of all Letter of Credit Outstanding Liabilities shall not at any time exceed the total Maximum Total Revolving Credit Commitment, and the aggregate sum of the Outstanding Revolving Credit Loans (after giving effect to all amounts requested), Outstanding Term Loans and the aggregate amount of all Letter of Credit Liabilities shall not at any time exceed the Total Commitment Amount or cause a violation of the covenant covenants set forth in ss.9.1§9.1 or §9.2. The Revolving Credit Loans shall be made pro rata in accordance with each Revolving Credit Lender's ’s Revolving Credit Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrower that all of the conditions set forth in ss.10 required of the Xxxxxxxx xxx xxxxx xx §00 and ss.11 §11, as applicable, have been satisfied on the date of such request. The Agent may assume that the conditions in §10 and §11, as applicable, have been satisfied unless it receives prior written notice from a Revolving Credit Lender that such conditions have not been satisfied. No Revolving Credit Lender shall have any obligation to make Revolving Credit Loans to the Borrower or participate in Letter of Credit Liabilities in the maximum aggregate principal outstanding balance of more than the principal face amount of its Revolving Credit Note.

Appears in 1 contract

Samples: Credit Agreement (Monogram Residential Trust, Inc.)

Revolving Credit Loans. (a) Subject to the terms and conditions set forth in this Agreement, each of the Lenders severally agrees to lend to the Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Maturity Date upon notice by the Borrower to the Agent given in accordance with ss.2.7§2.7, such sums as are requested by the Borrower for the purposes set forth in ss.2.9 §2.9 up to a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) plus the Letters of Credit Outstanding at any one time equal to the lesser of (i) such Lender's Revolving ’s Commitment and (ii) such Lender’s Commitment Percentage of the Borrowing Base Availability minus the aggregate amount of Letter of Credit CommitmentLiabilities and Swing Loans outstanding; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested) plus the Letters ), Swing Loans and Letter of Credit Outstanding Liabilities shall not at any time exceed the total Maximum Total Commitment Amount or cause a violation of the covenant set forth in ss.9.1Borrowing Base Availability. The Revolving Credit Loans shall be made pro rata in accordance with each Lender's Revolving Credit ’s Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrower that all of the conditions required of the Borrower set forth in ss.10 §§10 and ss.11 11 have been satisfied on the date of such request. The Agent may assume that the conditions in §§10 and 11 have been satisfied unless it receives prior written notice from a Lender that such conditions have not been satisfied. No Lender shall have any obligation to make Revolving Credit Loans to the Borrower or participate in Letter of Credit Liabilities in the maximum aggregate principal outstanding balance of more than the lesser of the amount equal to its Commitment Percentage of the Commitments and the principal face amount of its Revolving Credit Note.

Appears in 1 contract

Samples: Credit Agreement (Condor Hospitality Trust, Inc.)

Revolving Credit Loans. (a) Subject to the provisions of §2.5 and the other terms and conditions set forth in this Agreement, each of the Lenders severally agrees to lend to the Borrower, Borrower and the Borrower may borrow (borrow, repay, and repay and reborrow) reborrow from each Lender from time to time between from the Closing Date and up to but not including the Maturity Date upon notice by the Borrower to the Administrative Agent given in accordance with ss.2.7§2.5 hereof, such sums as are requested by the Borrower for the purposes set forth in ss.2.9 up to a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) plus the Letters of Credit Outstanding at any one time equal to such Lender's Revolving Credit Commitment’s Commitment minus such Lender’s Commitment Percentage of the Maximum Drawing Amount; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, provided that the sum of the outstanding principal amount of the Revolving Credit Loans and Swing Loans (after giving effect to all amounts requested) and the Competitive Bid Loans plus the Letters of Credit Outstanding Maximum Drawing Amount shall not at any time exceed the total Maximum Total Commitment Amount or cause a violation of the covenant set forth in ss.9.1effect at such time. The Revolving Credit Loans shall be made pro rata in accordance with each Lender's Revolving Credit ’s Commitment Percentage. Each request for a Revolving Credit Loan hereunder or Swing Loan made pursuant to §2.5 hereof shall constitute a representation and warranty by the Borrower that all of the conditions set forth in ss.10 §10 have been satisfied as of the Closing Date and ss.11 that the conditions set forth in §11 have been satisfied on the date of such requestrequest and will be satisfied on the proposed Drawdown Date of the requested Revolving Credit Loan or Swing Loan, provided that the making of such representation and warranty by the Borrower shall not limit the right of any Lender not to lend if such conditions have not been met. No Lender shall have any obligation to make Revolving Credit Loans Loan or Swing Loan shall be required to Borrower be made by any Lender, or the Swing Lender, as the case may be, unless all of the conditions contained in §10 have been satisfied as of the maximum aggregate principal outstanding balance Closing Date and all of more than the principal face amount conditions set forth in §11 have been met at the time of its any request for a Revolving Credit NoteLoan or Swing Loan.

Appears in 1 contract

Samples: Revolving Credit Agreement (Mack Cali Realty L P)

Revolving Credit Loans. (a) Subject to Upon the terms and subject to the conditions set forth in this Agreement, and in reliance upon the representations, warranties and covenants of the Borrower herein, each of the Lenders agrees, severally agrees and not jointly, to lend make revolving credit loans (the "REVOLVING CREDIT LOANS") to the Borrower at the Borrower's request from time to time from and after the Closing Date and prior to the Borrowing Base Maturity Date, PROVIDED that the Total Outstandings (after giving effect to all requested Revolving Credit Loans) shall not at any time exceed the lesser of (i) the Borrowing Base and (ii) the Total Commitment, and PROVIDED, FURTHER that the sum of the aggregate principal amount of outstanding Revolving Credit Loans made by each Lender shall not at any time (after giving effect to all requested Revolving Credit Loans) exceed such Lender's Commitment, and PROVIDED, FURTHER, that the sum of the aggregate principal amount of outstanding Revolving Credit Loans based on Eligible Leases having original terms of more than 60 months shall not at any time (after giving effect to all requested Revolving Credit Loans) exceed 15% of the aggregate principal amount of all outstanding Revolving Credit Loans. Subject to the terms and conditions of this Agreement, the Borrower may borrow (and borrow, repay and reborrow) prepay amounts, up to the limits imposed by this Section 2.1, from time to time between the Closing Date and the Borrowing Base Maturity Date upon notice by the Borrower request given to the Agent given in accordance with ss.2.7, such sums as are requested by the Borrower for the purposes set forth in ss.2.9 up pursuant to a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) plus the Letters of Credit Outstanding at any one time equal to such Lender's Revolving Credit Commitment; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested) plus the Letters of Credit Outstanding shall not at any time exceed the total Maximum Commitment Amount or cause a violation of the covenant set forth in ss.9.1. The Revolving Credit Loans shall be made pro rata in accordance with each Lender's Revolving Credit Commitment PercentageSection 2.4. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrower that all of the conditions set forth in ss.10 Section 3.1, in the case of the initial Revolving Credit Loans to be made on the Closing Date, and ss.11 Section 3.2 in the case of all other Revolving Credit Loans, have been satisfied on as of the date of such request. No Lender Additionally, at the Closing Date only, the Borrower shall have any obligation to make excess Revolving Credit Loans to Borrower in the maximum aggregate principal outstanding balance Loan availability, of more than the principal face amount of its Revolving Credit Noteat least $5,000,000.00.

Appears in 1 contract

Samples: Revolving Credit Agreement (Microfinancial Inc)

Revolving Credit Loans. (a) Subject to the terms and conditions set forth in this Agreement, each of the Revolving Credit Lenders severally agrees to lend to the Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Maturity Date upon notice by the Borrower to the Agent given in accordance with ss.2.7Section 2.7, such sums as are requested by the Borrower for the purposes set forth in ss.2.9 Section 2.9 up to a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) plus the Letters of Credit Outstanding at any one time equal to the lesser of (i) such Revolving Credit Lender's Revolving Credit CommitmentCommitment and (ii) such Revolving Credit Lender's Revolving Credit Commitment Percentage of the sum of (A) the Borrowing Base minus (B) the sum of (1) the amount of all Outstanding Term Loans and (2) the aggregate Letters of Credit Outstanding; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested) plus the ), Swing Loans and Letters of Credit Outstanding shall not at any time exceed the total Maximum Revolving Credit Commitment Amount or cause a violation of the covenant set forth in ss.9.1Section 9.1. The Revolving Credit Loans shall be made pro rata in accordance with each Revolving Credit Lender's Revolving Credit Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrower that all of the conditions set forth in ss.10 Section 10 and ss.11 Section 11 have been satisfied on the date of such request. No Revolving Credit Lender shall have any obligation to make Revolving Credit Loans to Borrower in the maximum aggregate principal outstanding balance of more than the principal face amount of its Revolving Credit Note.

Appears in 1 contract

Samples: Master Credit Agreement (JDN Realty Corp)

Revolving Credit Loans. (a) Subject to the terms and conditions set forth in this Agreement, each of the Revolving Credit Lenders severally agrees to lend to the Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Revolving Credit Maturity Date upon notice by the Borrower to the Agent given in accordance with ss.2.7§2.7, such sums as are requested by the Borrower for the purposes set forth in ss.2.9 §2.9 up to a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) plus the Letters of Credit Outstanding at any one time equal to the sum of such Revolving Credit Lender's ’s Revolving Credit Commitment; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested) plus of the Letters US_ACTIVE\121755035\V-6 Revolving Credit Loans, Term Loans, Swing Loans and Letter of Credit Outstanding Liabilities shall not at any time exceed the total Maximum Commitment Amount or cause a violation of the covenant set forth in ss.9.1Total Commitment. The Revolving Credit Loans shall be made pro rata in accordance with each Revolving Credit Lender's ’s Revolving Credit Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrower that all of the conditions required of the Borrower set forth in ss.10 §§10 and ss.11 11 have been satisfied on the date of such request. The Agent may assume that the conditions in §§10 and 11 have been satisfied unless it receives prior written notice from a Revolving Credit Lender that such conditions have not been satisfied. No Revolving Credit Lender shall have any obligation to make Revolving Credit Loans to the Borrower or participate in Letter of Credit Liabilities in the maximum aggregate principal outstanding balance of more than the lesser of the amount equal to its Revolving Credit Commitment Percentage of the Revolving Credit Commitments and the principal face amount of its Revolving Credit Note. Notwithstanding anything in this Agreement to the contrary, the Borrower shall not be entitled to obtain a disbursement of any Revolving Credit Loan or a Letter of Credit for, and shall not use any of the proceeds of any Revolving Credit Loan or any Letter of Credit, directly or indirectly, in whole or in part, to acquire Real Estate or an interest therein or to refinance indebtedness secured by such Real Estate, unless simultaneously therewith the terms of §5.3 are complied with and Agent receives the documents and items required thereunder.

Appears in 1 contract

Samples: Credit Agreement (GTJ Reit, Inc.)

Revolving Credit Loans. (a) Subject to the terms and conditions set forth in this Agreement, each of the Revolving Credit Lenders severally agrees to lend to the BorrowerBorrowers, and the Borrower Borrowers may borrow (and but may not repay and reborrowreborrow amounts repaid other than amounts repaid pursuant to §3.2) from time to time between the Closing Date and the Maturity Date upon notice by the Borrower Borrowers to the Agent given in accordance with ss.2.7§2.7, such sums as are requested by the Borrower Borrowers for the purposes set forth in ss.2.9 §2.9 up to a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) plus the Letters of Credit Outstanding at any one time equal to the lesser of (i) such Lender's Revolving Credit CommitmentLender’s Revolving Credit Commitment and (ii) such Revolving Credit Lender’s Revolving Credit Commitment Percentage of the Borrowing Base Availability (giving effect to the amount of all Outstanding Revolving Credit Loans); provided, that, in all events the maximum Outstanding principal balance of the Revolving Credit Loans shall not exceed the Borrowing Base Availability; and provided, further that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested) plus the Letters of Credit Outstanding shall not at any time exceed the total Maximum Total Revolving Credit Commitment Amount or cause a violation of the covenant covenants set forth in ss.9.1§9.1, §9.2 or §9.3. The Revolving Credit Loans shall be made pro rata in accordance with each Revolving Credit Lender's ’s Revolving Credit Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrower Borrowers that all of the conditions required of Borrowers set forth in ss.10 §10 and ss.11 §11 have been satisfied on the date of such request. The Agent may assume that the conditions in §10 and §11 have been satisfied unless it receives prior written notice from a Revolving Credit Lender that such conditions have not been satisfied. No Revolving Credit Lender shall have any obligation to make Revolving Credit Loans to Borrower Borrowers in the maximum aggregate principal outstanding balance of more than the principal face amount of its Revolving Credit Note.

Appears in 1 contract

Samples: Joinder Agreement (QTS Realty Trust, Inc.)

Revolving Credit Loans. Each Bank agrees, on the terms and conditions hereinafter set forth, to make its Pro Rata Share of Loans (aeach a “Revolving Credit Loan” and collectively, the “Revolving Credit Loans”) to the Borrower from time to time during the period from the Effective Date up to but not including the Termination Date, in an aggregate principal amount not to exceed at any time such Bank’s Commitment; provided, however, that (i) after giving effect to the making of any Revolving Credit Loan, the Aggregate Outstanding Credit Exposure shall not exceed the lesser of (A) the Revolving Credit Commitment, or (B) the Available Borrowing Base in effect on such date; and (ii) as to any Bank, the sum of its Pro Rata Share of the aggregate outstanding amount of the Revolving Credit Loans, plus such Bank’s Pro Rata Share of the outstanding amount of all L/C Obligations, plus such Bank’s Pro Rata Share of the outstanding amount of all Swing Line Loans shall not exceed the lesser of (A) such Bank’s Commitment or (B) such Bank’s Pro Rata Share of the Available Borrowing Base. Subject to the other terms and conditions hereof, amounts borrowed under this Section 2.1 may be repaid and reborrowed from time to time. Each Revolving Credit Loan which shall not utilize the Revolving Credit Commitment in full shall be in an amount not less than One Million and No/100 Dollars ($1,000,000.00). Any request for a Revolving Credit Loan for a lesser amount shall be made as a Swing Line Loan. Pursuant to the terms and conditions set forth in this Agreementherein, each of the Lenders severally agrees to lend to the Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Maturity Date upon notice by the Borrower to the Agent given in accordance with ss.2.7, such sums as are requested by the Borrower for the purposes set forth in ss.2.9 up to a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) plus the Letters of Credit Outstanding at any one time equal to such Lender's Revolving Credit Commitment; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested) plus the Letters may be outstanding as Base Rate Loans or LIBOR Loans. Each type of Credit Outstanding shall not at any time exceed the total Maximum Commitment Amount or cause a violation of the covenant set forth in ss.9.1. The Revolving Credit Loans Loan shall be made pro rata in accordance with and maintained by each Lender's Revolving Credit Commitment PercentageBank at its Lending Office for such type of Loan. Each request for a The failure of any Bank to advance its Pro Rata Share of any requested Revolving Credit Loan hereunder shall constitute a representation and warranty to be made by the Borrower that all of the conditions set forth in ss.10 and ss.11 have been satisfied it on the date specified for such Loan shall not relieve any other Bank of such request. No Lender shall have any its obligation (if any) to make Revolving Credit such Loan on such date, but no Bank shall be responsible for the failure of any other Bank to make such Loans to Borrower in the maximum aggregate principal outstanding balance of more than the principal face amount of its Revolving Credit Notebe made by such other Bank.

Appears in 1 contract

Samples: Credit Agreement (Saia Inc)

Revolving Credit Loans. (a) Subject to the terms and conditions set forth in this Agreement, each of the Lenders severally agrees to lend to the Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Maturity Date upon notice by the Borrower to the Agent given in accordance with ss.2.7§2.6, such sums as are requested by the Borrower for the purposes set forth in ss.2.9 §2.8 up to a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) plus the Letters of Credit Outstanding at any one time equal to such Lender's Revolving Credit ’s Commitment; provided, that, in all events no Default or Event of Default shall have occurred and be continuingcontinuing or would arise as a result thereof; and provided, further, that the outstanding principal amount of the Revolving Credit Loans and Swing Loans and the Letter of Credit Liabilities (after giving effect to all amounts requested) plus the Letters of Credit Outstanding ), shall not at any time exceed the total Maximum Total Commitment Amount or cause a violation of the covenant covenants set forth in ss.9.1§9.1. The Revolving Credit Loans shall be made pro rata in accordance with each Lender's Revolving Credit ’s Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrower that all of the conditions set forth in ss.10 required of Xxxxxxxx xxx xxxxx xx §00 and ss.11 §11 have been satisfied on the date of such request. The Agent may assume that the conditions in §10 and §11 have been satisfied unless it receives prior written notice from a Lender that such conditions have not been satisfied. No Lender shall have any obligation to make Revolving Credit Loans to the Borrower in the maximum aggregate principal outstanding balance of more than the principal face amount of its Revolving Credit Note.

Appears in 1 contract

Samples: Credit Agreement (Mid-America Apartments, L.P.)

Revolving Credit Loans. (a) Subject to the terms and conditions set forth in this Agreement, each of the Lenders severally agrees to lend to the Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Maturity Date upon notice by the Borrower to the Agent given in accordance with ss.2.7§2.6, such sums as are requested by the Borrower for the purposes set forth in ss.2.9 §2.8 up to a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) plus the Letters of Credit Outstanding at any one time equal to the lesser of (i) such Lender's ’s Commitment and (ii) such Lender’s Commitment Percentage of the sum of (A) the Borrowing Base minus (B) the sum of (1) the amount of all outstanding Revolving Credit CommitmentLoans and Swing Loans and (2) the aggregate amount of Letter of Credit Liabilities; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested) plus the Letters ), Swing Loans and Letter of Credit Outstanding Liabilities shall not at any time exceed the total Maximum Total Commitment Amount or cause a violation of the covenant set forth in ss.9.1§9.1. The Revolving Credit Loans shall be made pro rata in accordance with each Lender's Revolving Credit ’s Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrower that all of the conditions set forth in ss.10 required of Bxxxxxxx xxx xxxxx xx §00 and ss.11 §11 have been satisfied on the date of such request. The Agent may assume that the conditions in §10 and §11 have been satisfied unless it receives prior written notice from a Lender that such conditions have not been satisfied. No Lender shall have any obligation to make Revolving Credit Loans to Borrower in the maximum aggregate principal outstanding balance of more than the principal face amount of its Revolving Credit Note.

Appears in 1 contract

Samples: Assignment and Acceptance Agreement (Republic Property Trust)

Revolving Credit Loans. (a) Subject to the terms and conditions set forth in this Agreement, each of the Lenders severally agrees to lend to the Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Maturity Date upon notice by the Borrower to the Agent given in accordance with ss.2.7§2.7, such sums as are requested by the Borrower for the purposes set forth in ss.2.9 §2.9 up to a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) plus the Letters of Credit Outstanding at any one time equal to the sum of such Lender's Revolving Credit ’s Commitment; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested) plus the Letters ), Swing Loans and Letter of Credit Outstanding Liabilities shall not at any time exceed an amount equal to the total Maximum lesser of (i) the Total Commitment Amount or cause a violation of (ii) the covenant set forth in ss.9.1then-current Borrowing Base Availability. The Revolving Credit Loans shall be made pro rata in accordance with each Lender's Revolving Credit ’s Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrower that all of the conditions required of the Borrower set forth in ss.10 §§10 and ss.11 11 have been satisfied on the date of such request. The Agent may assume that the conditions in §§10 and 11 have been satisfied unless it receives prior written notice from a Lender that such conditions have not been satisfied. No Lender shall have any obligation to make Revolving Credit Loans to the Borrower or participate in Letter of Credit Liabilities in the maximum aggregate principal outstanding balance of more than the lesser of the amount equal to its Commitment Percentage of the Commitments and the principal face amount of its Revolving Credit Note.

Appears in 1 contract

Samples: Credit Agreement (Four Springs Capital Trust)

Revolving Credit Loans. (a1) Subject to Upon the terms and subject to the conditions set forth in this Agreement, and in reliance upon the representations, warranties and covenants of the Borrower herein, each of the Lenders agrees, severally agrees and not jointly, to lend make revolving credit loans (the "REVOLVING CREDIT LOANS") to the Borrower at the Borrower's request from time to time from and after the Closing Date and prior to the Borrowing Base Maturity Date, PROVIDED that the Total Outstandings (after giving effect to all requested Revolving Credit Loans and Swing Line Advances) shall not at any time exceed the lesser of (i) the Borrowing Base and (ii) the Total Commitment, and PROVIDED, FURTHER that the sum of the aggregate principal amount of outstanding Revolving Credit Loans made by each Lender shall not at any time (after giving effect to all requested Revolving Credit Loans and Swing Line Advances) exceed such Lender's Commitment, and PROVIDED, FURTHER, that the sum of the aggregate principal amount of outstanding Revolving Credit Loans based on Eligible Leases having original terms of more than 60 months shall not at any time (after giving effect to all requested Revolving Credit Loans) exceed 10% of the aggregate principal amount of all outstanding Revolving Credit Loans. Subject to the terms and conditions of this Agreement, the Borrower may borrow (and borrow, repay and reborrow) prepay amounts, up to the limits imposed by this Section 2.1, from time to time between the Closing Date and the Borrowing Base Maturity Date upon notice by the Borrower request given to the Agent given in accordance with ss.2.7, such sums as are requested by the Borrower for the purposes set forth in ss.2.9 up pursuant to a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) plus the Letters of Credit Outstanding at any one time equal to such Lender's Revolving Credit Commitment; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested) plus the Letters of Credit Outstanding shall not at any time exceed the total Maximum Commitment Amount or cause a violation of the covenant set forth in ss.9.1. The Revolving Credit Loans shall be made pro rata in accordance with each Lender's Revolving Credit Commitment PercentageSection 2.4. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrower that all of the conditions set forth in ss.10 Section 3.1, in the case of the initial Revolving Credit Loans to be made on the Closing Date, and ss.11 Section 3.2 in the case of all other Revolving Credit Loans, have been satisfied on as of the date of such request. No Lender shall have any obligation to make Revolving Credit Loans to Borrower in the maximum aggregate principal outstanding balance of more than the principal face amount of its Revolving Credit Note.

Appears in 1 contract

Samples: Revolving Credit Agreement (Microfinancial Inc)

Revolving Credit Loans. (a) Subject to the terms and conditions set forth in this Agreement, each of the Revolving Credit Lenders severally agrees to lend to the Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Maturity Date upon notice by the Borrower to the Agent given in accordance with ss.2.7, such sums as are requested by the Borrower for the purposes set forth in ss.2.9 up to a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) plus the Letters of Credit Outstanding at any one time equal to the lesser of (i) such Revolving Credit Lender's Revolving Credit CommitmentCommitment and (ii) such Revolving Credit Lender's Revolving Credit Commitment Percentage of the sum of (A) the Credit Event Maximum Outstanding Amount minus (B) the amount of all Outstanding Term Loans; provided, that, in all events no Default Non-Advance Condition or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested) plus the Letters of Credit Outstanding shall not at any time exceed the total Maximum Commitment Amount plus the outstanding Term Loans, if any, or cause a violation of the covenant set forth in ss.9.1. The Revolving Credit Loans shall be made pro rata in accordance with each Revolving Credit Lender's Revolving Credit Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrower that all of the conditions set forth in ss.10 and ss.11 have been satisfied on the date of such request. No Revolving Credit Lender shall have any obligation to make Revolving Credit Loans to Borrower in the maximum aggregate principal outstanding balance of more than the principal face amount of its Revolving Credit Note.

Appears in 1 contract

Samples: Master Credit Agreement (Entertainment Properties Trust)

Revolving Credit Loans. (a) Subject to the terms and conditions set forth in this Agreement, each of the Revolving Credit Lenders severally agrees to lend to the BorrowerBorrowers and any Borrower may borrow, repay, and the Borrower may borrow (and repay and reborrow) reborrow from time to time between from the Closing Date and until the Maturity Date upon notice by the applicable Borrower to the Administrative Agent given in accordance with ss.2.7§2.6, such sums denominated in Dollars as are requested by the Borrower for the purposes set forth in ss.2.9 applicable Borrowers up to a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) plus the Letters of Credit Outstanding at any one time equal to such Revolving Credit Lender's Commitment minus such Revolving Credit Commitment; provided, that, in Lender's Commitment Percentage of (i) the sum of the Maximum Drawing Amount and all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that Unpaid Reimbursement Obligations plus (ii) the outstanding principal amount of Swing Line Loans, provided the sum of the outstanding amount of the Revolving Credit Loans (after giving effect to all amounts requested) plus the Letters Maximum Drawing Amount and all Unpaid Reimbursement Obligations plus the outstanding amount of Credit Outstanding Swing Line Loans shall not at any time exceed the total Maximum lesser of (A) the Total Commitment Amount or cause a violation of at such time and (B) the covenant set forth in ss.9.1Borrowing Base at such time. The Revolving Credit Loans shall be made pro rata in accordance with each Revolving Credit Lender's Revolving Credit Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrower Borrowers that all of the conditions set forth above and in ss.10 §11 and ss.11 §12, in the case of the initial Revolving Credit Loans to be made on the Closing Date, and §12, in the case of all other Revolving Credit Loans, have been satisfied on the date of such request. No Lender shall have any obligation to make The Revolving Credit Loans to Borrower in advanced on the maximum aggregate principal outstanding balance of more than Closing Date shall be made by the principal face amount of its Revolving Credit NoteLenders as Base Rate Loans, subject to conversion after the Closing Date in accordance with §2.7.

Appears in 1 contract

Samples: Revolving Credit Agreement (CAI International, Inc.)

Revolving Credit Loans. (a) Subject to the terms and conditions set forth in this Agreement, each of the Lenders severally agrees to lend to the Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Maturity Date upon notice by the Borrower to the Agent given in accordance with ss.2.7§2.7, such sums as are requested by the Borrower for the purposes set forth in ss.2.9 §2.9 up to a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) plus the Letters of Credit Outstanding at any one time equal to the sum of such Lender's Revolving Credit ’s Commitment; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested) plus the Letters ), Swing Loans and Letter of Credit Outstanding Liabilities shall not at any time exceed the total Maximum Commitment Amount or cause a violation of the covenant set forth in ss.9.1Total Commitment. The Revolving Credit Loans shall be made pro rata in accordance with each Lender's Revolving Credit ’s Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrower that all of the conditions required of the Borrower set forth in ss.10 §§10 and ss.11 11 have been satisfied on the date of such request. The Agent may assume that the conditions in §§10 and 11 have been satisfied unless it receives prior written notice from a Lender that such conditions have not been satisfied. No Lender shall have any obligation to make Revolving Credit Loans to the Borrower or participate in Letter of Credit Liabilities in the maximum aggregate principal outstanding balance of more than the lesser of the amount equal to its Commitment Percentage of the Commitments and the principal face amount of its Revolving Credit Note. Notwithstanding anything in this Agreement to the contrary, the Borrower shall not be entitled to obtain a disbursement of the Loan or a Letter of Credit for, and shall not use any of the proceeds of any Loan or any Letter of Credit, directly or indirectly, in whole or in part, to acquire Real Estate or an interest therein unless simultaneously therewith the terms of §5.3 are complied with and Agent receives the documents and items required thereunder.

Appears in 1 contract

Samples: Credit Agreement (GTJ REIT, Inc.)

Revolving Credit Loans. (a) Subject to the terms and conditions set forth in of this Agreement, each of the Lenders Lender severally agrees to lend make Revolving Credit Loans to the Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between from the Closing Date and through the Maturity Revolving Credit Termination Date upon notice by the Borrower to the Agent given in accordance with ss.2.7, such sums as are requested by the Borrower for in accordance with the purposes set forth in ss.2.9 up to a maximum terms of Section 2.2; PROVIDED, that (a) the aggregate principal amount of all outstanding (after giving effect to all amounts requested) plus the Letters of Credit Outstanding at any one time equal to such Lender's Revolving Credit Commitment; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts any amount requested) plus shall not exceed the Letters Revolving Credit Commitment LESS the L/C Obligations, (b) each Lender's Revolving Credit Commitment Percentage of the sum of the aggregate principal amount of all outstanding Revolving Credit Outstanding Loans and L/C Obligations shall not at any time exceed the total Maximum Commitment Amount or cause a violation of the covenant set forth in ss.9.1. The Revolving Credit Loans shall be made pro rata in accordance with each such Lender's Revolving Credit Commitment Percentageand (c) except for Revolving Credit Loans which are made as a part of the Initial Loans, the Lenders shall have no obligation to make additional Revolving Credit Loans until the Acquisition Filing in accordance with Section 6.3(d). Each request for a Revolving Credit Loan hereunder by a Lender shall constitute be in a representation and warranty by the Borrower that all principal amount equal to such Lender's Revolving Credit Commitment Percentage of the conditions set forth in ss.10 and ss.11 have been satisfied on the date aggregate principal amount of such request. No Lender shall have any obligation to make Revolving Credit Loans requested on such occasion. Subject to the terms and conditions hereof, the Borrower in the maximum aggregate principal outstanding balance of more than the principal face amount of its may borrow, repay and reborrow Revolving Credit NoteLoans hereunder until the Revolving Credit Termination Date.

Appears in 1 contract

Samples: Credit Agreement (Marshall Industries)

Revolving Credit Loans. (a) Subject to the provisions of §2.5 and the other terms and conditions set forth in this Agreement, each of the Revolving Credit Lenders severally agrees to lend to the Borrower, Borrower and the Borrower may borrow (borrow, repay, and repay and reborrow) reborrow from each Revolving Credit Lender from time to time between from the Closing Date and up to but not including the Revolving Credit Maturity Date upon notice by the Borrower to the Administrative Agent given in accordance with ss.2.7§2.5 hereof, such sums Revolving Credit Loans as are requested by the Borrower for the purposes set forth in ss.2.9 up to a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) plus the Letters of Credit Outstanding at any one time equal to such Lender's ’s Revolving Credit CommitmentCommitment minus such Lender’s Revolving Credit Commitment Percentage of the Maximum Drawing Amount; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, provided that the sum of the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested) and the Competitive Bid Loans plus the Letters of Credit Outstanding Maximum Drawing Amount shall not at any time exceed the total Maximum Total Revolving Credit Commitment Amount or cause a violation of the covenant set forth in ss.9.1effect at such time. The Revolving Credit Loans shall be made pro rata in accordance with each Revolving Credit Lender's ’s Revolving Credit Commitment Percentage. Each request for a Revolving Credit Loan hereunder made pursuant to §2.5 hereof shall constitute a representation and warranty by the Borrower that all of the conditions set forth in ss.10 §10 have been satisfied or waived in accordance with §25 and ss.11 that the conditions set forth in §11 have been satisfied on the date of such requestrequest and will be satisfied on the proposed Drawdown Date of the requested Revolving Credit Loan, provided that the making of such representation and warranty by the Borrower shall not limit the right of any Revolving Credit Lender not to lend if such conditions have not been met. No Lender shall have any obligation to make Revolving Credit Loans Loan shall be required to Borrower in the maximum aggregate principal outstanding balance of more than the principal face amount of its be made by any Revolving Credit NoteLender unless all of the conditions contained in §10 have been satisfied or waived in accordance with §25 and all of the conditions set forth in §11 have been met at the time of any request for a Revolving Credit Loan.

Appears in 1 contract

Samples: Credit Agreement (Mack Cali Realty L P)

Revolving Credit Loans. (a) Subject to the terms and conditions set forth in this Agreement, each of the Revolving Credit Lenders severally agrees to lend to the Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Revolving Credit Maturity Date upon notice by the Borrower to the Agent given in accordance with ss.2.7§2.7, such sums as are requested by the Borrower for the purposes set forth in ss.2.9 §2.9 up to a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) plus the Letters of Credit Outstanding at any one time equal to the lesser of (i) the sum of such Lender's Revolving Credit CommitmentLender’s Revolving Credit Commitment and (ii) such Revolving Credit Lender’s Revolving Credit Commitment Percentage of the sum of (A) the Borrowing Base Availability minus (B) the sum of (1) the amount of all outstanding Revolving Credit Loans and Swing Loans, and (2) the aggregate amount of Letter of Credit Liabilities; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested) plus the Letters ), Swing Loans and Letter of Credit Outstanding Liabilities shall not at any time exceed the total Maximum Total Revolving Credit Commitment, and the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested), Swing Loans and Letter of Credit Liabilities shall not at any time exceed the Total Revolving Credit Commitment Amount or cause a violation of the covenant set forth in ss.9.1§9.1. The Revolving Credit Loans shall be made pro rata in accordance with each Revolving Credit Lender's ’s Revolving Credit Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrower that all of the conditions set forth in ss.10 required of the Xxxxxxxx xxx xxxxx xx §00 and ss.11 §11 have been satisfied on the date of such request. The Agent may assume that the conditions in §10 and §11 have been satisfied unless it receives prior written notice from a Revolving Credit Lender that such conditions have not been satisfied. No Revolving Credit Lender shall have any obligation to make Revolving Credit Loans to the Borrower in the maximum aggregate principal outstanding balance of more than the principal face amount of its Revolving Credit Note.

Appears in 1 contract

Samples: Credit Agreement (Carter Validus Mission Critical REIT II, Inc.)

Revolving Credit Loans. (a) Subject to Upon the terms and subject to the conditions of, and in reliance upon the representations and warranties made under, this Agreement, each Lender agrees, severally, but not jointly, to make Revolving Credit Loans to the Borrowers from time to time from the Effective Date to but not including the Termination Date, as requested or deemed requested by the Borrowers in accordance with the terms of SECTION 2.2, in amounts equal to such Lender's Proportionate Share of each Revolving Credit Loan requested or deemed requested hereunder up to an aggregate amount at any one time outstanding equal to such Lender's Proportionate Share of the Borrowing Base; PROVIDED, HOWEVER, that no Borrowing shall exceed the Loan Availability at the time and the aggregate principal amount of all outstanding Loans (after giving effect to the Revolving Credit Loans requested or deemed requested) shall not exceed the Borrowing Base. It is expressly understood and agreed that the Lenders may and at present intend to use the Borrowing Base as a maximum ceiling on Loans made to the Borrowers; PROVIDED, HOWEVER, that it is agreed that should the aggregate outstanding amount of such Loans exceed the ceiling so determined or any other limitation set forth in this Agreement, each such Loans shall nevertheless constitute Secured Obligations and, as such, shall be entitled to all benefits thereof and security therefor. The principal amount of any Revolving Credit Loan which is repaid may be reborrowed by the Lenders severally agrees to lend Borrowers, subject to the Borrowerterms and conditions of this Agreement, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Maturity Date upon notice by the Borrower to the Agent given in accordance with ss.2.7, such sums as are requested by the Borrower for the purposes set forth in ss.2.9 up to a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) plus the Letters terms of Credit Outstanding at any one time equal to such Lender's Revolving Credit Commitment; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested) plus the Letters of Credit Outstanding shall not at any time exceed the total Maximum Commitment Amount or cause a violation of the covenant set forth in ss.9.1this SECTION 2.1. The Revolving Credit Loans shall be made pro rata in accordance with Administrative Agent's and each Lender's Revolving Credit Commitment Percentage. Each request for a books and records reflecting the date and the amount of each Revolving Credit Loan hereunder and each repayment of principal thereof shall constitute a representation and warranty by the Borrower that all prima facie evidence of the conditions set forth in ss.10 and ss.11 have been satisfied on accuracy of the date information contained therein, subject to the provisions of such request. No Lender shall have any obligation to make Revolving Credit Loans to Borrower in the maximum aggregate principal outstanding balance of more than the principal face amount of its Revolving Credit NoteSECTION 4.5.

Appears in 1 contract

Samples: Loan and Security Agreement (American Tire Distributors Inc)

Revolving Credit Loans. (a) Subject to Each Revolving Credit Lender severally agrees, on the terms and conditions set forth in this Agreement, to make loans (each of the Lenders severally agrees to lend a “Revolving Credit Loan”) to the Borrower, and the Borrower may borrow (and repay and reborrow) pursuant to this Section 2.01 from time to time between the Closing Date and the Maturity Date upon notice by the Borrower to the Agent given in accordance with ss.2.7, such sums as are requested by the Borrower for the purposes set forth in ss.2.9 up to a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) plus the Letters of Credit Outstanding at any one time equal to such Lender's Revolving Credit Commitment; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of during the Revolving Credit Loans (after giving effect to all Availability Period in amounts requested) plus such that the Letters Revolving Credit Outstandings of such Revolving Credit Outstanding shall not Lender at any time shall not exceed the total Maximum Commitment Amount or cause a violation of the covenant set forth in ss.9.1. The Revolving Credit Loans shall be made pro rata in accordance with each Lender's Revolving Credit Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrower that all of the conditions set forth in ss.10 and ss.11 have been satisfied on the date of such request. No Lender shall have any obligation to make Revolving Credit Loans to Borrower in the maximum aggregate principal outstanding balance of more than the principal face amount of its Revolving Credit NoteCommitment at such time. Each Borrowing under this Section 2.01 shall be in an aggregate principal amount of $1,000,000 or any larger multiple of $500,000 and shall be made from the Revolving Credit Lenders ratably in proportion to their respective Revolving Credit Commitments. Within the foregoing limits, the Borrower may borrow under this Section 2.01, repay, or, to the extent permitted or required by Sections 2.11, 2.12 and 2.13, prepay Revolving Credit Loans and reborrow at any time during the Revolving Credit Availability Period. Notwithstanding the foregoing, until delivery to the Administrative Agent of a certificate of a responsible officer of the Borrower, in form and substance reasonably satisfactory to the Administrative Agent, stating that (a) all Obligations outstanding under the 8.10% Notes, the 8.10% Senior Note Indenture, the CEA Credit Agreement and the CMA Credit Agreement (other than contingent Obligations which by their terms survive the termination thereof), (b) all commitments to lend thereunder have been terminated and (c) all Liens securing such Obligations have been terminated and released, the aggregate outstanding Revolving Credit Loans and face amount of Letters of Credit shall not exceed the sum of (i) $15,000,000 plus (ii) the face amount of outstanding Letters of Credit issued pursuant to Section 4.17(a)(ii) plus (iii) the face amount of outstanding CMA-Related Letters of Credit.

Appears in 1 contract

Samples: Credit Agreement (Cogentrix Energy Inc)

Revolving Credit Loans. (a) Subject to the terms and conditions set forth in this AgreementAgreement and the Post Closing Letter, each of the Revolving Credit Lenders severally agrees to lend to the BorrowerBorrowers, and the Borrower Borrowers may borrow (and repay and reborrow) from time to time between the Closing Date and the Revolving Credit Maturity Date upon notice by the Borrower Borrowers to the Agent given in accordance with ss.2.7§2.8, such sums as are requested by the Borrower Borrowers for the purposes set forth in ss.2.9 §2.10 up to a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) plus the Letters of Credit Outstanding at any one time equal to the lesser of (i) such Lender's Revolving Credit CommitmentLender’s Revolving Credit Commitment and (ii) such Revolving Credit Lender’s Revolving Credit Commitment Percentage of (A) the Borrowing Base Availability minus (B) the amount of all outstanding Revolving Credit Loans; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested) plus the Letters of Credit Outstanding shall not at any time exceed the total Maximum Total Commitment Amount or cause a violation of the covenant set forth in ss.9.1§9.1. The Revolving Credit Loans shall be made pro rata in accordance with each Revolving Credit Lender's ’s Revolving Credit Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrower Borrowers that all of the conditions required of Borrowers set forth in ss.10 §10 and ss.11 §11 have been satisfied on the date of such request (or if such condition is required to have been satisfied only as of the initial Closing Date, that such condition was satisfied as of the Closing Date), or to the extent all of the conditions required of Borrowers set forth in §10 and §11 are not satisfied or deemed satisfied as of the date of such request, such shall not result in any Material Adverse Effect. The Agent may assume that the conditions in §10 and §11 have been satisfied unless it receives prior written notice from a Revolving Credit Lender that such conditions have not been satisfied. No Revolving Credit Lender shall have any obligation to make Revolving Credit Loans to Borrower Borrowers in the maximum aggregate principal outstanding balance of more than the principal face amount of its Revolving Credit NoteNote or its Commitment, as applicable.

Appears in 1 contract

Samples: Credit Agreement (City Office REIT, Inc.)

Revolving Credit Loans. (a) Subject to the terms and conditions set forth in this AgreementAgreement and the Post Closing Letter, each of the Revolving Credit Lenders severally agrees to lend to the BorrowerBorrowers, and the Borrower Borrowers may borrow (and repay and reborrow) from time to time between the Closing Date and the Revolving Credit Maturity Date upon notice by the Borrower Borrowers to the Agent given in accordance with ss.2.7§2.8, such sums as are requested by the Borrower Borrowers for the purposes set forth in ss.2.9 §2.10 up to a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) plus the Letters of Credit Outstanding at any one time equal to the lesser of (i) such Lender's Revolving Credit CommitmentLender’s Revolving Credit Commitment and (ii) such Revolving Credit Lender’s Revolving Credit Commitment Percentage of (A) the Borrowing Base Availability minus (B) the amount of all outstanding Revolving Credit Exposure; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Revolving Credit Loans Exposure (after giving effect to all amounts requested) plus the Letters of Credit Outstanding shall not at any time exceed the total Maximum Total Commitment Amount or cause a violation of the covenant set forth in ss.9.1§9.1. The Revolving Credit Loans shall be made pro rata in accordance with each Revolving Credit Lender's ’s Revolving Credit Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrower Borrowers that all of the conditions required of Borrowers set forth in ss.10 §10 and ss.11 §11 have been satisfied on the date of such request (or if such condition is required to have been satisfied only as of the initial Closing Date, that such condition was satisfied as of the Closing Date), or to the extent all of the conditions required of Borrowers set forth in §10 and §11 are not satisfied or deemed satisfied as of the date of such request, such shall not result in any Material Adverse Effect. The Agent may assume that the conditions in §10 and §11 have been satisfied unless it receives prior written notice from a Revolving Credit Lender that such conditions have not been satisfied. No Revolving Credit Lender shall have any obligation to make Revolving Credit Loans to Borrower Borrowers in the maximum aggregate principal outstanding balance of more than the principal face amount of its Revolving Credit NoteNote or its Commitment, as applicable.

Appears in 1 contract

Samples: Credit Agreement (City Office REIT, Inc.)

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Revolving Credit Loans. (a) Subject to the terms and conditions set forth in this Agreement, each of the Revolving Credit Lenders severally agrees to lend to the Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Revolving Credit Maturity Date upon notice by the Borrower to the Agent given in accordance with ss.2.7§2.7, such sums denominated in U.S. dollars as are requested by the Borrower for the purposes set forth in ss.2.9 §2.9 up to a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) plus the Letters of Credit Outstanding at any one time equal to the lesser of (i) such Lender's Revolving Credit CommitmentLender’s Revolving Credit Commitment and (ii) such Revolving Credit Lender’s Revolving Credit Commitment Percentage of the Unencumbered Asset Pool Availability; and provided, further that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested) plus the Letters ), Swing Loans and Letter of Credit Outstanding Liabilities shall not at any time exceed the total Maximum Total Revolving Credit Commitment Amount and the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested), Term Loans, Swing Loans and Letter of Credit Liabilities shall not at any time exceed the Total Commitment or cause a violation of the covenant covenants set forth in ss.9.1§9.1. The Revolving Credit Loans shall be made pro rata in accordance with each Revolving Credit Lender's ’s Revolving Credit Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrower that all of the conditions set forth in ss.10 required of the Xxxxxxxx xxx xxxxx xx §00 and ss.11 §11 have been satisfied on the date of such request. The Agent may assume that the conditions in §10 and §11 have been satisfied unless it receives prior written notice from a Revolving Credit Lender that such conditions have not been satisfied. No Revolving Credit Lender shall have any obligation to make Revolving Credit Loans to the Borrower in the maximum aggregate principal outstanding balance of more than the principal face amount of its Revolving Credit Note.

Appears in 1 contract

Samples: Assignment and Acceptance Agreement (QualityTech, LP)

Revolving Credit Loans. (a) Subject to the terms and conditions set forth in this Credit Agreement, each of the Revolving Credit Lenders severally agrees to lend to the Borrower, Borrower and the Borrower may borrow (borrow, repay, and repay and reborrow) reborrow from time to time between from the Closing Date and until the Maturity Date upon notice by the Borrower to the Administrative Agent given in accordance with ss.2.7§2.6, such sums denominated in Dollars as are requested by the Borrower for the purposes set forth in ss.2.9 up to a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) plus the Letters of Credit Outstanding at any one time equal to such Lender's Revolving Credit Commitment; providedLender’s Commitment minus such Revolving Credit Lender’s Commitment Percentage of (i) the sum of the Maximum Drawing Amount and all Unpaid Reimbursement Obligations plus (ii) the outstanding amount of Swing Line Loans, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, provided that the sum of the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested) plus the Letters Maximum Drawing Amount and all Unpaid Reimbursement Obligations plus the outstanding amount of Credit Outstanding Swing Line Loans shall not at any time exceed the total Maximum lesser of (A) the Total Commitment Amount or cause a violation of at such time and (B) the covenant set forth in ss.9.1Borrowing Base at such time. The Revolving Credit Loans shall be made pro rata in accordance with each Lender's Revolving Credit Lender’s Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrower that all of the conditions set forth above and in ss.10 §11 and ss.11 §12, in the case of the initial Revolving Credit Loans to be made on the Closing Date, and §12, in the case of all other Revolving Credit Loans, have been satisfied on the date of such request. No Lender shall have any obligation to make The Revolving Credit Loans to Borrower in advanced on the maximum aggregate principal outstanding balance of more than Closing Date shall be made by the principal face amount of its Revolving Credit NoteLenders as Base Rate Loans, subject to conversion after the Closing Date in accordance with §2.7.

Appears in 1 contract

Samples: Revolving Credit Agreement (CAI International, Inc.)

Revolving Credit Loans. (a) Subject Except with respect to the terms and conditions set forth in this Agreementinitial Revolving Credit Loan on the Closing Date, each of the Lenders severally agrees to lend to the Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Maturity Date upon notice by the Borrower shall give to the Agent given written notice executed by an Authorized Officer in the form of Exhibit D-1 hereto (or telephonic notice confirmed in writing in the form of Exhibit D-1 hereto) of each Revolving Credit Loan requested hereunder (a “Loan Request”) by 11:00 a.m. (Cleveland time) one (1) Business Day prior to the proposed Drawdown Date with respect to Base Rate Loans and three (3) Business Days prior to the proposed Drawdown Date with respect to SOFR Rate Loans. Each such notice shall specify with respect to the requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with ss.2.7, such sums as are requested the terms of §2.9) and (ii) a certification by the chief executive officer, president or chief financial officer of the REIT on behalf of Borrower for that the purposes set forth Borrower and Guarantors are and will be in ss.2.9 up to a maximum aggregate principal amount outstanding (compliance with all covenants under the Loan Documents after giving effect to all amounts requested) plus the Letters making of Credit Outstanding at any one time equal to such Lender's Revolving Credit Commitment; providedLoan. Promptly upon receipt of any such notice, that, in all events no Default or Event of Default the Agent shall have occurred and be continuing; and provided, further, that the outstanding principal amount notify each of the Revolving Credit Loans (after giving effect to all amounts requested) plus the Letters of Credit Outstanding shall not at any time exceed the total Maximum Commitment Amount or cause a violation of the covenant set forth in ss.9.1Lenders thereof. The Revolving Credit Loans Each such Loan Request shall be made pro rata in accordance with each Lender's Revolving Credit Commitment Percentage. Each request for a irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan hereunder requested from the Revolving Credit Lenders on the proposed Drawdown Date. Nothing herein shall constitute a representation and warranty by prevent the Borrower that all of the conditions set forth in ss.10 and ss.11 have been satisfied on the date of such request. No Lender shall have from seeking recourse against any obligation to make Revolving Credit Loans Lender that fails to Borrower in the maximum aggregate principal outstanding balance advance its proportionate share of more than the principal face amount of its a requested Revolving Credit NoteLoan as required by this Agreement. Each Loan Request shall be for the Minimum Borrowing Amount.

Appears in 1 contract

Samples: Credit Agreement (Modiv Inc.)

Revolving Credit Loans. (aai) Subject to the terms and conditions set forth in this Agreement, each of the Revolving Credit Lenders severally agrees to lend to the Borrower, and the Borrower may borrow (and repay and reborrow) ), from time to time between the Closing Date and the Revolving Credit Maturity Date upon notice by the Borrower to the Agent given in accordance with ss.2.7§2.7, such sums as are requested by the Borrower for the purposes set forth in ss.2.9 §2.9 up to a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) plus the Letters of Credit Outstanding at any one time equal to the lesser of (i) such Lender's ’s Revolving Credit CommitmentCommitment and (ii) such Lender’s Revolving Credit Commitment Percentage of the sum of (A) the Borrowing Base Availability minus (B) the sum of (1) the amount of all outstanding Revolving Credit Loans, Term Loans and Swing Loans, and (2) the aggregate amount of Letter of Credit Liabilities; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested) plus the Letters ), Term Loans, Swing Loans and Letter of Credit Outstanding Liabilities shall not at any time (i) exceed the total Maximum lesser of (A) Borrowing Base Availability and (B) the Total Commitment Amount or (ii) cause a violation of the covenant set forth in ss.9.1§9.1. The Revolving Credit Loans shall be made pro rata in accordance with each Revolving Credit Lender's ’s Revolving Credit Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrower that all of the conditions required of the Borrower set forth in ss.10 and ss.11 §11 (and, in the case of any request for a Revolving Credit Loan hereunder on the Closing Date, §10) have been satisfied on the date of such request. The Agent may assume that the conditions in §10 and §11 have been satisfied unless it receives prior written notice from a Revolving Credit Lender that such conditions have not been satisfied. No Revolving Credit Lender shall have any obligation to make Revolving Credit Loans to the Borrower or participate in Letter of Credit Liabilities in the maximum aggregate principal outstanding balance of more than the lesser of the amount equal to its Revolving Credit Commitment Percentage of the Revolving Credit Commitments and the principal face amount of its Revolving Credit Note.

Appears in 1 contract

Samples: Senior Secured Credit Agreement (Healthcare Trust, Inc.)

Revolving Credit Loans. (a) Subject to the terms and conditions set forth in this Agreement, each of the Lenders severally agrees to lend to the Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Maturity Date upon notice by the Borrower to the Agent given in accordance with ss.2.7, such sums as are requested by the Borrower for the purposes set forth in ss.2.9 up to a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) plus the Letters of Credit Outstanding at any one time equal to such Lender's Revolving Credit Commitment; providedPROVIDED, that, in all events no Default or Event of Default shall have occurred and be continuing; and providedPROVIDED, furtherFURTHER, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested) plus the Letters of Credit Outstanding shall not at any time exceed the total Maximum Commitment Amount or cause a violation of the covenant set forth in ss.9.1. The Revolving Credit Loans shall be made pro rata PRO RATA in accordance with each Lender's Revolving Credit Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrower that all of the conditions set forth in ss.10 and ss.11 have been satisfied on the date of such request. No Lender shall have any obligation to make Revolving Credit Loans to Borrower in the maximum aggregate principal outstanding balance of more than the principal face amount of its Revolving Credit Note.

Appears in 1 contract

Samples: Master Credit Agreement (Entertainment Properties Trust)

Revolving Credit Loans. (a) Subject to Upon the terms and subject to the conditions of, and in reliance upon the representations and warranties made under, this Agreement, each Lender agrees, severally, but not jointly, to make Revolving Credit Loans to the Borrowers from time to time from the Effective Date to but not including the Termination Date, as requested or deemed requested by the Borrowers in accordance with the terms of SECTION 2.2, in amounts equal to such Lender's Proportionate Share of each Revolving Credit Loan requested or deemed requested hereunder up to an aggregate amount at any one time outstanding equal to such Lender's Proportionate Share of the Borrowing Base; PROVIDED, HOWEVER, that no Borrowing shall exceed the Loan Availability at the time and the aggregate principal amount of all outstanding Loans (after giving effect to the Revolving Credit Loans requested or deemed requested) shall not exceed the Borrowing Base. It is expressly understood and agreed that the Lenders may and at present intend to use the Borrowing Base as a maximum ceiling on Loans made to the Borrowers; PROVIDED, HOWEVER, that it is agreed that should the aggregate outstanding amount of such Loans exceed the ceiling so determined or any other limitation set forth in this Agreement, each such Loans shall nevertheless constitute Secured Obligations and, as such, shall be entitled to all benefits thereof and security therefor. The principal amount of any Revolving Credit Loan which is repaid may be reborrowed by the Lenders severally agrees to lend Borrowers, subject to the Borrowerterms and conditions of this Agreement, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Maturity Date upon notice by the Borrower to the Agent given in accordance with ss.2.7, such sums as are requested by the Borrower for the purposes set forth in ss.2.9 up to a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) plus the Letters terms of Credit Outstanding at any one time equal to such Lender's Revolving Credit Commitment; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested) plus the Letters of Credit Outstanding shall not at any time exceed the total Maximum Commitment Amount or cause a violation of the covenant set forth in ss.9.1this Section 2.1. The Revolving Credit Loans shall be made pro rata in accordance with Administrative Agent's and each Lender's Revolving Credit Commitment Percentage. Each request for a books and records reflecting the date and the amount of each Revolving Credit Loan hereunder and each repayment of principal thereof shall constitute a representation and warranty by the Borrower that all prima facie evidence of the conditions set forth in ss.10 and ss.11 have been satisfied on accuracy of the date information contained therein, subject to the provisions of such request. No Lender shall have any obligation to make Revolving Credit Loans to Borrower in the maximum aggregate principal outstanding balance of more than the principal face amount of its Revolving Credit NoteSECTION 4.5.

Appears in 1 contract

Samples: Loan and Security Agreement (Heafner Tire Group Inc)

Revolving Credit Loans. (a) Subject to The Lender shall, on the terms and ---------------------- conditions set forth in this Agreement, each of the Lenders severally agrees to lend make Revolving Credit Loans to the Borrower at the Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Maturity Date upon notice by the Borrower to the Agent given in accordance with ss.2.7, such sums as are requested by the Borrower 's request for the purposes set forth Borrower's Working Capital Purposes from the date hereof until the Revolving Credit Maturity Date, which Revolving Credit Loans in ss.2.9 up to a maximum an aggregate principal amount outstanding (after giving effect to all amounts requested) plus shall not exceed the Letters of Credit Outstanding at any one time equal to such Lender's Revolving Credit Commitment; provided, that, in all events no Default or Event of Default . The Borrower shall have occurred and be continuing; and provided, further, that repay the aggregate outstanding principal amount of each such Revolving Credit Loan on the Revolving Credit Payment Date and all outstanding interest due on each Revolving Credit Loan and all other amounts owing under this Agreement or the Loan Documents no later than the Revolving Credit Payment Date. If the aggregate of all outstanding Revolving Credit Loans (after giving effect to all amounts requested) plus the Letters of Credit Outstanding shall not at any time exceed the total Maximum Commitment Amount or cause a violation Revolving Credit Commitment, the Lender shall demand that the Borrower immediately pay such excess to the Lender. The obligation of the covenant set forth in ss.9.1. The Borrower to repay the principal amount of each Revolving Credit Loans Loan and any and all interest which accrues thereon shall be made pro rata evidenced by a promissory note in accordance with each Lender's the original principal amount of up to the Revolving Credit Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation executed and warranty delivered by the Borrower that all in substantially the form of Exhibit A hereto (the conditions set forth in ss.10 and ss.11 have been satisfied on the date of such request. No Lender shall have any obligation to make Revolving Credit Loans to Borrower in the maximum aggregate principal outstanding balance of more than the principal face amount of its "Revolving Credit Note."). ---------

Appears in 1 contract

Samples: Loan and Security Agreement (Nitinol Medical Technologies Inc)

Revolving Credit Loans. (a) Subject to the terms and conditions set forth in this Agreement, each of the Revolving Credit Lenders severally agrees to lend to the Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Revolving Credit Maturity Date upon notice by the Borrower to the Agent given in accordance with ss.2.7§2.7, such sums as are requested by the Borrower for the purposes set forth in ss.2.9 §2.9 up to a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) plus the Letters of Credit Outstanding at any one time equal to the lesser of (i) the sum of such Lender's Revolving Credit CommitmentLender’s Commitment and (ii) such Revolving Credit Lender’s Revolving Credit Commitment Percentage of the sum of (A) the Borrowing Base Availability minus (B) the sum of (1) the amount of all outstanding Revolving Credit Loans and Swing Loans, and (2) the aggregate amount of Letter of Credit Liabilities; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested) plus the Letters ), Swing Loans and Letter of Credit Outstanding Liabilities shall not at any time exceed the total Maximum Total Revolving Credit Commitment, and the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested), Term Loans, Swing Loans and Letter of Credit Liabilities shall not at any time exceed the Total Commitment Amount or cause a violation of the covenant covenants set forth in ss.9.1§9.1, §9.9 or §9.10. The Revolving Credit Loans shall be made pro rata in accordance with each Revolving Credit Lender's ’s Revolving Credit Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrower that all of the conditions set forth in ss.10 required of the Xxxxxxxx xxx xxxxx xx §00 and ss.11 §11 have been satisfied on the date of such request. The Agent may assume that the conditions in §10 and §11 have been satisfied unless it receives prior written notice from a Revolving Credit Lender that such conditions have not been satisfied. No Revolving Credit Lender shall have any obligation to make Revolving Credit Loans to the Borrower in the maximum aggregate principal outstanding balance of more than the principal face amount of its Revolving Credit Note.

Appears in 1 contract

Samples: Credit Agreement (Carter Validus Mission Critical REIT, Inc.)

Revolving Credit Loans. (a) Subject to the terms and conditions set forth in this Agreement, each of the Revolving Credit Lenders severally agrees to lend to the Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Revolving Credit Maturity Date upon notice by the Borrower to the Agent given in accordance with ss.2.7§2.7, such sums as are requested by the Borrower for the purposes set forth in ss.2.9 §2.9 up to a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) plus the Letters of Credit Outstanding at any one time equal to the lesser of (i) such Lender's Revolving Credit CommitmentLender’s Revolving Credit Commitment and (ii) such Revolving Credit Lender’s Revolving Credit Commitment Percentage of the sum of (1) the amount of all outstanding Revolving Credit Loans and Swing Loans, and (2) the aggregate amount of Letter of Credit Liabilities; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested) plus the Letters ), Swing Loans and Letter of Credit Outstanding Liabilities shall not at any time exceed the total Maximum Total Revolving Credit Commitment Amount or cause a violation and the outstanding principal amount of the covenant set forth in ss.9.1Revolving Credit Loans (after giving effect to all amounts requested), Swing Loans, Term Loans and Letter of Credit Liabilities shall not at any time exceed the Total Commitment. The Revolving Credit Loans shall be made pro rata in accordance with each Revolving Credit Lender's ’s Revolving Credit Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrower that all of the conditions set forth in ss.10 required of the Xxxxxxxx xxx xxxxx xx §00 and ss.11 §11 have been satisfied on the date of such request. The Agent may assume that the conditions in §10 and §11 have been satisfied unless it receives prior written notice from a Revolving Credit Lender that such conditions have not been satisfied. No Revolving Credit Lender shall have any obligation to make Revolving Credit Loans to the Borrower in the maximum aggregate principal outstanding balance of more than the principal face amount of its Revolving Credit Note.

Appears in 1 contract

Samples: Credit Agreement (Behringer Harvard Reit I Inc)

Revolving Credit Loans. (a) Subject to Upon the terms and subject to the conditions set forth of, and in reliance upon the representations and warranties made under, this Agreement, each of the Lenders severally agrees Lender agrees, severally, but not jointly, to lend make Revolving Credit Loans to the Borrower, and the Borrower may borrow (and repay and reborrow) Borrowers from time to time between from the Closing Effective Date and to but not including the Maturity Date upon notice Termination Date, as requested or deemed requested by the a Borrower to the Agent given in accordance with ss.2.7the terms of Section 2.2, such sums as are requested by the Borrower for the purposes set forth in ss.2.9 up to a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) plus the Letters of Credit Outstanding at any one time equal to such Lender's Commitment Percentage of each such Revolving Credit CommitmentLoan requested or deemed requested hereunder up to an aggregate amount at any one time outstanding equal to such Lender's Commitment Percentage of the Borrowing Base; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, furtherhowever, that the outstanding aggregate principal amount of the all outstanding Revolving Credit Loans (after giving effect to all amounts the Advances requested) plus the Letters of Credit Outstanding shall not at any time exceed the total Maximum Commitment Amount Borrowing Base. It is expressly understood and agreed that the Lenders may and at present intend to use the Borrowing Base as a maximum ceiling on Revolving Credit Loans to the Borrower; provided, however, that it is agreed that should the Revolving Credit Loans exceed the ceiling so determined or cause a violation of the covenant any other limitation set forth in ss.9.1. The this Agreement, such Revolving Credit Loans shall nevertheless constitute Secured Obligations and, as such, shall be made pro rata entitled to all benefits thereof and security therefor. The principal amount of any Revolving Credit Loan which is repaid pursuant to Section 2.3(c) may be reborrowed by the Borrower, subject to the terms and conditions of this Agreement, in accordance with the terms of this Section 2.1. The Agent's and each Lender's Revolving Credit Commitment Percentage. Each request for a books and records reflecting the date and the amount of each Revolving Credit Loan hereunder and each repayment of principal thereof shall constitute a representation and warranty by the Borrower that all prima facie evidence of the conditions set forth in ss.10 and ss.11 have been satisfied on accuracy of the date information contained therein, subject to the provisions of such request. No Lender shall have any obligation to make Revolving Credit Loans to Borrower in the maximum aggregate principal outstanding balance of more than the principal face amount of its Revolving Credit NoteSection 4.7.

Appears in 1 contract

Samples: Loan and Security Agreement (Trism Inc /De/)

Revolving Credit Loans. (a) Subject to the terms and conditions set forth in this Agreement, each of the Revolving Credit Lenders severally agrees to lend to the Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Revolving Credit Maturity Date upon notice by the Borrower to the Agent given in accordance with ss.2.7§2.7, such sums as are requested by the Borrower for the purposes set forth in ss.2.9 §2.9 up to a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) plus the Letters of Credit Outstanding at any one time equal to the lesser of (i) such Lender's Revolving Credit CommitmentLender’s Revolving Credit Commitment and (ii) such Revolving Credit Lender’s Revolving Credit Commitment Percentage of the Unencumbered Asset Pool Availability; and provided, further that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested) plus the Letters ), Swing Loans and Letter of Credit Outstanding Liabilities shall not at any time exceed the total Maximum Total Revolving Credit Commitment Amount and the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested), Term Loans, Swing Loans and Letter of Credit Liabilities shall not at any time exceed the Total Commitment or cause a violation of the covenant covenants set forth in ss.9.1§9.1. The Revolving Credit Loans shall be made pro rata in accordance with each Revolving Credit Lender's ’s Revolving Credit Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrower that all of the conditions set forth in ss.10 required of the Xxxxxxxx xxx xxxxx xx §00 and ss.11 §11 have been satisfied on the date of such request. The Agent may assume that the conditions in §10 and §11 have been satisfied unless it receives prior written notice from a Revolving Credit Lender that such conditions have not been satisfied. No Revolving Credit Lender shall have any obligation to make Revolving Credit Loans to the Borrower in the maximum aggregate principal outstanding balance of more than the principal face amount of its Revolving Credit Note.

Appears in 1 contract

Samples: Credit Agreement (QTS Realty Trust, Inc.)

Revolving Credit Loans. (a) Subject to the terms and conditions set forth in this Agreement, each of the Lenders severally agrees to lend to the Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Maturity Date upon notice by the Borrower to the Agent given in accordance with ss.2.7§2.7, such sums as are requested by the Borrower for the purposes set forth in ss.2.9 §2.9 up to a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) plus the Letters of Credit Outstanding at any one time equal to such Lender's Revolving Credit ’s Commitment; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested) plus the Letters ), Swing Loans and Letter of Credit Outstanding Liabilities shall not at any time exceed the total Maximum Commitment Amount or cause a violation of the covenant set forth in ss.9.1Total Commitment. The Revolving Credit Loans shall be made pro rata in accordance with each Lender's Revolving Credit ’s Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrower that all of the conditions required of the Borrower set forth in ss.10 §§10 and ss.11 11, as applicable, have been satisfied on the date of such request. The Agent may assume that the conditions in §§10 and 11 have been satisfied unless it receives prior written notice from a Lender that such conditions have not been satisfied. No Lender shall have any obligation to make Revolving Credit Loans to the Borrower or participate in Letter of Credit Liabilities and Swing Loans in the maximum aggregate principal outstanding balance of more than the principal face amount of its Revolving Credit Noteequal to such Lender’s Commitment.

Appears in 1 contract

Samples: Credit Agreement (Monogram Residential Trust, Inc.)

Revolving Credit Loans. (a) Subject to the terms and conditions set forth in this Agreement, each of the Revolving Credit Lenders severally agrees to lend to the Borrower, and the Borrower may borrow (and repay and reborrow) ), from time to time between the Closing Date and the Revolving Credit Maturity Date upon notice by the Borrower to the Agent given in accordance with ss.2.7§2.7, such sums as are requested by the Borrower for the purposes set forth in ss.2.9 §2.9 up to a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) plus the Letters of Credit Outstanding at any one time equal to the lesser of (i) such Lender's ’s Revolving Credit CommitmentCommitment and (ii) such Lender’s Revolving Credit Commitment Percentage of the sum of (A) the Borrowing Base Availability minus (B) the sum of (1) the amount of all outstanding Revolving Credit Loans, Term Loans and Swing Loans, and (2) the aggregate amount of Letter of Credit Liabilities; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested) plus the Letters ), Term Loans, Swing Loans and Letter of Credit Outstanding Liabilities shall not at any time (i) exceed the total Maximum lesser of (A) Borrowing Base Availability and (B) the Total Commitment Amount or (ii) cause a violation of the covenant set forth in ss.9.1§9.1. The Revolving Credit Loans shall be made pro rata in accordance with each Revolving Credit Lender's ’s Revolving Credit Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrower that all of the conditions required of the Borrower set forth in ss.10 and ss.11 §11 (and, in the case of any request for a Revolving Credit Loan hereunder on the Closing Date, §10) have been satisfied on the date of such request. The Agent may assume that the conditions in §10 and §11 have been satisfied unless it receives prior written notice from a Revolving Credit Lender that such conditions have not been satisfied. No Revolving Credit Lender shall have any obligation to make Revolving Credit Loans to the Borrower or participate in Letter of Credit Liabilities in the maximum aggregate principal outstanding balance of more than the lesser of the amount equal to its Revolving Credit Commitment Percentage of the Revolving Credit Commitments and the principal face amount of its Revolving Credit Note.

Appears in 1 contract

Samples: Senior Secured Credit Agreement (Healthcare Trust, Inc.)

Revolving Credit Loans. (a) Subject to the terms and conditions set forth in this Agreement, each of the Revolving Credit Lenders severally agrees to lend to the Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Revolving Credit Maturity Date upon notice by the Borrower to the Agent given in accordance with ss.2.7§2.7, such sums as are requested by the Borrower for the purposes set forth in ss.2.9 §2.9 up to a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) plus the Letters of Credit Outstanding at any one time equal to the lesser of (i) the sum of such Lender's Revolving Credit CommitmentLender’s Revolving Credit Commitment and (ii) such Revolving Credit Lender’s Revolving Credit Commitment Percentage of the sum of (A) the Pool Availability minus (B) the sum of (1) the amount of all outstanding Revolving Credit Loans and Swing Loans, and (2) the aggregate amount of Letter of Credit Liabilities; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested) plus the Letters ), Swing Loans and Letter of Credit Outstanding Liabilities shall not at any time exceed the total Maximum Total Revolving Credit Commitment, and the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested), Swing Loans and Letter of Credit Liabilities shall not at any time exceed the Total Revolving Credit Commitment Amount or cause a violation of the covenant set forth in ss.9.1§9.1. The Revolving Credit Loans shall be made pro rata in accordance with each Lender's Revolving Credit Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrower that all of the conditions set forth in ss.10 and ss.11 have been satisfied on the date of such request. No Lender shall have any obligation to make Revolving Credit Loans to Borrower in the maximum aggregate principal outstanding balance of more than the principal face amount of its Revolving Credit Note.Lender’s Revolving

Appears in 1 contract

Samples: Credit Agreement (Carter Validus Mission Critical REIT II, Inc.)

Revolving Credit Loans. (a) Subject to the terms and conditions set forth in of this Agreement, each of the Lenders Lender severally agrees to lend make Revolving Credit Loans in a Permitted Currency (other than Specified Alternative Currencies, Loans with respect to which shall only be made by the applicable Specified A/C Lenders in accordance with the terms of Section 2.2) to the Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between from the Closing Date and through the Maturity Credit Facility Termination Date upon notice by the Borrower to the Agent given in accordance with ss.2.7, such sums as are requested by the Borrower for in accordance with the purposes set forth in ss.2.9 up to a maximum terms of Section 2.5; provided, that (a) the Dollar Amount of the aggregate principal amount of all outstanding (after giving effect to all amounts requested) plus the Letters of Credit Outstanding at any one time equal to such Lender's Revolving Credit Commitment; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts any amount requested) plus shall not exceed the Letters Aggregate Commitment less the sum of the Dollar Amount of the aggregate principal amount of all outstanding Specified A/C Loans less the sum of the Dollar Amount of the aggregate principal amount of all outstanding Competitive Bid Loans, Swingline Loans and L/C Obligations, (b) the sum of (i) the Dollar Amount of the aggregate principal amount of all outstanding Revolving Credit Outstanding Loans made in Alternative Currencies (other than Specified Alternative Currencies) and (ii) the Dollar Amount of the aggregate principal amount of all outstanding Specified A/C Loans shall not exceed the Alternative Currency Commitment and (c) the Dollar Amount of the aggregate principal amount of all outstanding Revolving Credit Loans from any Lender to the Borrower shall not at any time exceed the total Maximum such Lender's Commitment Amount or cause a violation less such Lender's Commitment Percentage of the covenant set forth sum of the Dollar Amount of the aggregate principal amount of all outstanding Specified A/C Loans, Swingline Loans and L/C Obligations. Each Revolving Credit Loan by a Lender shall be in ss.9.1. The a principal amount equal to such Lender's Commitment Percentage of the aggregate principal amount of Revolving Credit Loans shall be made pro rata in accordance with each Lender's Revolving Credit Commitment Percentagerequested on such occasion. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrower that all of the conditions set forth in ss.10 and ss.11 have been satisfied on the date of such request. No Lender shall have any obligation to make Revolving Credit Loans to Borrower be made in an Alternative Currency (other than a Specified Alternative Currency) shall be funded in an amount equal to the maximum aggregate principal outstanding balance Alternative Currency Amount of more than the principal face amount of its such Revolving Credit NoteLoan. Subject to the terms and conditions hereof, the Borrower may borrow, repay and reborrow Revolving Credit Loans hereunder until the Credit Facility Termination Date.

Appears in 1 contract

Samples: Credit Agreement (Checkpoint Systems Inc)

Revolving Credit Loans. (a) Upon the terms and subject to the conditions of this Agreement, and in reliance upon the representations, warranties and covenants of the Borrowers herein, each of the Lenders agrees, severally and not jointly, to make revolving credit loans (the “Revolving Credit Loans”) to the Borrowers at the Borrowers’ request from time to time from and after the Closing Date and prior to the Maturity Date, provided that the Total Outstandings (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) shall not at any time exceed the lesser of (i) the Borrowing Base and (ii) the Available Commitment, provided, further that the sum of the aggregate principal amount of outstanding Revolving Credit Loans made by each Lender shall not at any time (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) exceed such Lender’s Commitment. Subject to the terms and conditions set forth in of this Agreement, each of the Lenders severally agrees to lend Borrowers may borrow, repay, prepay and reborrow amounts, up to the Borrowerlimits imposed by this Section 2.1, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Maturity Date upon notice by the Borrower request given to the Agent given in accordance with ss.2.7, such sums as are requested by the Borrower for the purposes set forth in ss.2.9 up pursuant to a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) plus the Letters of Credit Outstanding at any one time equal to such Lender's Revolving Credit Commitment; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested) plus the Letters of Credit Outstanding shall not at any time exceed the total Maximum Commitment Amount or cause a violation of the covenant set forth in ss.9.1. The Revolving Credit Loans shall be made pro rata in accordance with each Lender's Revolving Credit Commitment PercentageSection 2.3. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrower Borrowers that all of the conditions set forth in ss.10 Sections 3.1 and ss.11 3.2 have been satisfied on as of the date of such request. No Lender shall have any obligation to make Revolving Credit Loans to Borrower in the maximum aggregate principal outstanding balance of more than the principal face amount of its Revolving Credit Note.

Appears in 1 contract

Samples: Credit Agreement (Microfinancial Inc)

Revolving Credit Loans. (a) Subject to the terms and conditions set forth in this Agreement, each of the Revolving Credit Lenders severally agrees to lend to the Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Revolving Credit Maturity Date upon notice by the Borrower to the Agent given in accordance with ss.2.7§2.7, such sums denominated in U.S. dollars as are requested by the Borrower for the purposes set forth in ss.2.9 §2.9 up to a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) plus the Letters of Credit Outstanding at any one time equal to the lesser of (i) such Lender's Revolving Credit CommitmentLender’s Revolving Credit Commitment and (ii) such Revolving Credit Lender’s Revolving Credit Commitment Percentage of the Unencumbered Asset Pool Availability; and provided, further that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested) plus the Letters ), Swing Loans and Letter of Credit Outstanding Liabilities shall not at any time exceed the total Maximum Total Revolving Credit Commitment Amount and the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested), Term Loans, Swing Loans and Letter of Credit Liabilities shall not at any time exceed the Total Commitment or cause a violation of the covenant covenants set forth in ss.9.1§9.1. The Revolving Credit Loans shall be made pro rata in accordance with each Revolving Credit Lender's ’s Revolving Credit Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrower that all of the conditions set forth in ss.10 required of the Bxxxxxxx xxx xxxxx xx §00 and ss.11 §11 have been satisfied on the date of such request. The Agent may assume that the conditions in §10 and §11 have been satisfied unless it receives prior written notice from a Revolving Credit Lender that such conditions have not been satisfied. No Revolving Credit Lender shall have any obligation to make Revolving Credit Loans to the Borrower in the maximum aggregate principal outstanding balance of more than the principal face amount of its Revolving Credit Note.

Appears in 1 contract

Samples: Credit Agreement (QTS Realty Trust, Inc.)

Revolving Credit Loans. (a) Subject to the terms and conditions set forth in this Agreement, each of the Lenders severally agrees to lend to the Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Maturity Date upon notice by the Borrower to the Agent given in accordance with ss.2.7§2.7, such sums as are requested by the Borrower for the purposes set forth in ss.2.9 §2.9 up to a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) plus the Letters of Credit Outstanding at any one time equal to the lesser of (i) such Lender's ’s Commitment and (ii) such Lender’s Commitment Percentage of the sum of (A) the Borrowing Base Availability minus (B) the sum of (1) the amount of all outstanding Revolving Credit CommitmentLoans and Swing Loans, and (2) the aggregate amount of Letter of Credit Liabilities; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested) plus the Letters ), Swing Loans and Letter of Credit Outstanding Liabilities shall not at any time exceed the total Maximum Commitment Amount or sum of the Total Commitment, and the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested), Swing Loans and Letter of Credit Liabilities shall not at any time cause a violation of the covenant set forth in ss.9.1§9.1. The Revolving Credit Loans shall be made pro rata in accordance with each Lender's Revolving Credit ’s Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrower that all of the conditions set forth in ss.10 required of the Xxxxxxxx xxx xxxxx xx §00 and ss.11 §11 have been satisfied on the date of such request. The Agent may assume that the conditions in §10 and §11 have been satisfied unless it receives prior written notice from a Lender that such conditions have not been satisfied. No Lender shall have any obligation to make Revolving Credit Loans to the Borrower in the maximum aggregate principal outstanding balance of more than the principal face amount of its Revolving Credit Note.

Appears in 1 contract

Samples: Credit Agreement (Tier Reit Inc)

Revolving Credit Loans. (a) Subject to the terms and conditions set forth in this Agreement, each of the Revolving Credit Lenders severally agrees to lend to the Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Revolving Credit Maturity Date upon notice by the Borrower to the Agent given in accordance with ss.2.7§2.7(a), such sums as are requested by the Borrower for the purposes set forth in ss.2.9 §2.9 up to a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) plus the Letters of Credit Outstanding at any one time equal to the lesser of (i) the sum of such Lender's Revolving Credit CommitmentLender’s Revolving Credit Commitment and (ii) such Revolving Credit Lender’s Revolving Credit Commitment Percentage of the sum of (A) the Borrowing Base Availability minus (B) the sum of (1) the amount of all outstanding Revolving Credit Loans, Term Loans and Swing Loans, plus (2) the aggregate amount of Letter of Credit Liabilities; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested) plus the Letters ), Term Loans, Swing Loans and Letter of Credit Outstanding Liabilities shall not at any time (i) exceed the total Maximum lesser of (A) Borrowing Base Availability and (B) the Total Commitment Amount or (ii) cause a violation of the covenant covenants set forth in ss.9.1§7.19 or §9.1, nor shall the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested), Swing Loans and Letter of Credit Liabilities exceed the Total Revolving Credit Commitment. The Revolving Credit Loans shall be made pro rata in accordance with each Revolving Credit Lender's ’s Revolving Credit Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrower that all of the conditions required of the Borrower set forth in ss.10 §§10 and ss.11 11 have been satisfied on the date of such request. The Agent may assume that the conditions in §§10 and 11 have been satisfied unless it receives prior written notice from a Revolving Credit Lender that such conditions have not been satisfied. No Revolving Credit Lender shall have any obligation to make Revolving Credit Loans to the Borrower or participate in Letter of Credit Liabilities in the maximum aggregate principal outstanding balance of more than the lesser of the amount equal to its Revolving Credit Commitment Percentage of the Revolving Credit Commitments and the principal face amount of its Revolving Credit Note.

Appears in 1 contract

Samples: Credit Agreement (Modiv Inc.)

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