Common use of Supplemental Revolving Loans Clause in Contracts

Supplemental Revolving Loans. Each Supplemental Revolving Lender severally, and for itself alone, agrees, on the terms and subject to the conditions hereinafter set forth and in reliance upon the representations and warranties set forth herein and in the other Loan Documents, to continue to make loans to the Borrower on a revolving basis from time to time from and after the Restatement Date to, but not including, the Supplemental Revolver Termination Date, in its Supplemental Revolving Loan Pro Rata Share of such aggregate amount as the Borrower may request, but not exceeding in an aggregate principal amount at any one time outstanding the applicable Supplemental Revolving Loan Commitment of such Supplemental Revolving Lender at such time. The Borrower and the Supplemental Revolving Lenders acknowledge the making of the Supplemental Revolving Loans which are outstanding on the Restatement Date in accordance with the terms of the Existing Credit Agreement and agree that such Supplemental Revolving Loans shall continue to be outstanding pursuant to the terms and conditions of this Agreement and the other Loan Documents. Prior to the Supplemental Revolver Termination Date, Supplemental Revolving Loans may be repaid and reborrowed by the Borrower in accordance with the provisions hereof.

Appears in 2 contracts

Samples: Credit Agreement (Stone Container Corp), Credit Agreement (Stone Container Corp)

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Supplemental Revolving Loans. Each (a) Borrower and Lender acknowledge the making of certain loans or advances (individually each a "Supplemental Revolving Lender severally, Loan" and for itself alone, agrees, on collectively the terms and subject to the conditions hereinafter set forth and in reliance upon the representations and warranties set forth herein and in the other Loan Documents, to continue to make loans to the Borrower on a revolving basis from time to time from and after the Restatement Date to, but not including, the Supplemental Revolver Termination Date, in its "Supplemental Revolving Loan Pro Rata Share of such aggregate amount as the Loans") by Lender to Borrower may request, but not exceeding in an aggregate principal amount at any one time outstanding the applicable Supplemental Revolving Loan Commitment of such Supplemental Revolving Lender at such time. The Borrower and the Supplemental Revolving Lenders acknowledge the making of the Supplemental Revolving Loans $5,100,000 which are outstanding on the Restatement Second Amendment Effective Date in accordance with the terms of the Existing Credit this Agreement and agree that that, from and after the Second Amendment Effective Date, such Supplemental Revolving Loans shall continue to be outstanding pursuant to the terms and conditions of this Agreement. Subject to the terms and conditions of this Agreement and the other Loan Documents. Prior Related Agreements, and in reliance upon the warranties of Borrower set forth herein and in the Related Agreements, Lender agrees to the Supplemental Revolver Termination Date, make such additional Supplemental Revolving Loans (the "Incremental Supplemental Revolving Loans") to the Borrower in the principal amount of up to $2,000,000 from time to time on or after the Second Amendment Effective Date and before the Termination Date as Borrower may from time to time request; provided, however, that the aggregate principal amount of all outstanding Supplemental Revolving Loans (including the Incremental Supplemental Revolving Loan) shall not exceed the Supplemental Revolving Credit Amount. Supplemental Revolving Loans (including the Incremental Supplemental Revolving Loan) may be repaid and, subject to the terms and conditions hereof, reborrowed by to but not including the Borrower Termination Date unless the Credit is otherwise terminated as provided in accordance with the provisions hereofthis Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (Elxsi Corp /De//)

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Supplemental Revolving Loans. Each Supplemental Revolving Lender severally, and for itself alone, agrees, on (a) Subject to the terms and subject to conditions of this Agreement and the conditions hereinafter set forth Related Agreements, and in reliance upon the representations and warranties of Borrower set forth herein and in the other Loan DocumentsRelated Agreements, Lender agrees to continue to make such loans to or advances (individually each a "Supplemental Revolving Loan" and collectively the Borrower on a revolving basis "Supplemental Revolving Loans") from time to time from and after before the Restatement Termination Date to, but not including, the Supplemental Revolver Termination Date, in its Supplemental Revolving Loan Pro Rata Share of such aggregate amount to Borrower as the Borrower may from time to time request; provided, but not exceeding in an however, that the aggregate principal amount of all Supplemental Revolving Loans at any one time outstanding the applicable Supplemental Revolving Loan Commitment of such Supplemental Revolving Lender at such time. The Borrower and shall not exceed the Supplemental Revolving Lenders Credit Amount. Supplemental Revolving Loans may be repaid and, subject to the terms and conditions hereof, reborrowed to but not including the Termination Date unless the Credit is otherwise terminated as provided in this Agreement. Borrower and Lender acknowledge the making of the Supplemental Revolving Loans which are outstanding on the Restatement Date in accordance with the terms of the Existing Credit Loan Agreement and agree that that, from and after the Restatement Date, such Supplemental Revolving Loans shall continue to be outstanding pursuant to the terms and conditions of this Agreement and the other Loan Documents. Prior to the Supplemental Revolver Termination Date, Supplemental Revolving Loans may be repaid and reborrowed by the Borrower in accordance with the provisions hereofAgreement.

Appears in 1 contract

Samples: Loan and Security Agreement (Elxsi Corp /De//)

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