Common use of The Advances Clause in Contracts

The Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to the Company from time to time on any Business Day during the period from the Effective Date until the Termination Date in an aggregate amount (based in respect of any Advance denominated in a Major Currency on the Equivalent in Dollars determined on the date of delivery of the applicable Notice of Borrowing), not to exceed such Lender’s Unused Commitment. Each Borrowing shall be in an aggregate amount not less than $10,000,000 (or the Equivalent thereof in any Major Currency determined on the date of delivery of the applicable Notice of Borrowing) or an integral multiple of $1,000,000 (or the Equivalent thereof in any Major Currency determined on the date of delivery of the applicable Notice of Borrowing) in excess thereof and shall consist of Advances of the same Type made on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Commitment, the Company may borrow under this Section 2.01, prepay pursuant to Section 2.10 and reborrow under this Section 2.01.

Appears in 8 contracts

Samples: Day Credit Agreement (Honeywell International Inc), Assignment and Assumption (Honeywell International Inc), Day Credit Agreement (Honeywell International Inc)

AutoNDA by SimpleDocs

The Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to the Company from time to time on any Business Day during the period from the Effective Date until the Termination Date in an aggregate amount (based in respect of any Advance denominated in a Major an Alternative Currency on the Equivalent in Dollars determined on the date of delivery of the applicable Notice of Borrowing), not to exceed such LenderXxxxxx’s Unused Commitment. Each Borrowing shall be in an aggregate amount not less than $10,000,000 (or the Equivalent thereof in any Major Alternative Currency determined on the date of delivery of the applicable Notice of Borrowing) or an integral multiple of $1,000,000 (or the Equivalent thereof in any Major Alternative Currency determined on the date of delivery of the applicable Notice of Borrowing) in excess thereof and shall consist of Advances of the same Type made on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Commitment, the Company may borrow under this Section 2.01, prepay pursuant to Section 2.10 and reborrow under this Section 2.01.

Appears in 2 contracts

Samples: Day Credit Agreement (Honeywell International Inc), Day Credit Agreement (Honeywell International Inc)

The Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to the Company Borrowers from time to time on any Business Day during the period from the Effective Date until the Termination Date in an aggregate principal amount (based in respect of any Advance denominated in a Major Currency Sterling on the Equivalent in Dollars determined on the date of delivery of the applicable Notice of BorrowingDollars), not to exceed at any time outstanding the amount of such Lender’s Unused CommitmentCommitment less (i) such Lender’s Pro Rata Share of the Outstanding Amount of all L/C Obligations and (ii) such Lender’s Pro Rata Share of the Outstanding Amount of all Swing Line Loans. Each Borrowing shall be in an aggregate amount not less than of $10,000,000 5,000,000 (or the Equivalent thereof in any Major Currency determined on the date of delivery of the applicable Notice of BorrowingSterling) or an integral multiple of $1,000,000 (or the Equivalent thereof in any Major Currency determined on the date of delivery of the applicable Notice of BorrowingSterling) in excess thereof and shall consist of Advances of the same Type made on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Commitment, the Company Borrowers may borrow under this Section 2.01, prepay pursuant to Section 2.10 2.11 and reborrow under this Section 2.01.

Appears in 2 contracts

Samples: Credit Agreement (Invesco Ltd.), Credit Agreement (Invesco Ltd.)

AutoNDA by SimpleDocs

The Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to the Company from time to time on any Business Day during the period from the Effective Date until the Termination Date in an aggregate amount (based in respect of any Advance denominated in a Major an Alternative Currency on the Equivalent in Dollars determined on the date of delivery of the applicable Notice of Borrowing), not to exceed such Lender’s Unused Commitment. Each Borrowing shall be in an aggregate amount not less than $10,000,000 (or the Equivalent thereof in any Major Alternative Currency determined on the date of delivery of the applicable Notice of Borrowing) or an integral multiple of $1,000,000 (or the Equivalent thereof in any Major Alternative Currency determined on the date of delivery of the applicable Notice of Borrowing) in excess thereof and shall consist of Advances of the same Type made on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Commitment, the Company may borrow under this Section 2.01, prepay pursuant to Section 2.10 and reborrow under this Section 2.01.

Appears in 1 contract

Samples: Day Credit Agreement (Honeywell International Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.