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 each Borrower in Dollars only from time to time on any Business Day during the period from the date hereof until the Termination Date applicable to such Lender in an aggregate amount not to exceed at any time outstanding the Available Commitment of such Lender. Each Borrowing shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof and shall consist of Advances of the same Type and, in the case of Eurodollar Rate Advances, having the same Interest Period made or Converted on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Available Commitment, and subject to the conditions set forth in Article III and the other terms and conditions hereof, each Borrower may from time to time borrow, prepay pursuant to Section 2.12 and reborrow under this Section 2.01; provided, that in no case shall any Lender be required to make an Advance to any Borrower hereunder if (i) the amount of such Advance would exceed such Lender’s Available Commitment, (ii) the making of such Advance, together with the making of the other Advances constituting part of the same Borrowing, would cause the total amount of all Outstanding Credits to exceed the aggregate amount of the Commitments or (iii) the amount of such Advance, together with all other Outstanding Credits for the account of such Borrower, would exceed such Borrower’s Borrower Sublimit.

Appears in 4 contracts

Sources: Credit Agreement, Credit Agreement, Credit Agreement

The Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to each Borrower in Dollars only from time to time on any Business Day during the period from the date hereof until the Termination Date applicable to such Lender in an aggregate amount not to exceed at any time outstanding the Available Commitment of such Lender. Each Borrowing shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof and shall consist of Advances of the same Type and, in the case of Eurodollar Rate RateTerm Benchmark Advances, having the same Interest Period made or Converted on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Available Commitment, and subject to the conditions set forth in Article III and the other terms and conditions hereof, each Borrower may from time to time borrow, prepay pursuant to Section 2.12 and reborrow under this Section 2.01; provided, that in no case shall any Lender be required to make an Advance to any Borrower hereunder if (i) the amount of such Advance would exceed such Lender▇▇▇▇▇▇’s Available Commitment, (ii) the making of such Advance, together with the making of the other Advances constituting part of the same Borrowing, would cause the total amount of all Outstanding Credits to exceed the aggregate amount of the Commitments or (iii) the amount of such Advance, together with all other Outstanding Credits for the account of such Borrower▇▇▇▇▇▇▇▇, would exceed such Borrower▇▇▇▇▇▇▇▇’s Borrower Sublimit. For the avoidance of doubt, the making of, or Conversion into, RFR Advances, shall only be applicable as set forth in Section 2.14 or Section 2.23.

Appears in 3 contracts

Sources: Credit Agreement (Firstenergy Corp), Credit Agreement (Firstenergy Corp), Credit Agreement (Firstenergy Corp)

The Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to each the Borrower in Dollars only from time to time on any Business Day during the period from the date hereof Effective Date until the Termination Date applicable to such Lender in an aggregate amount (based in respect of any Advances denominated in a Committed Currency on the Equivalent in Dollars determined on the date of delivery of the applicable Notice of Borrowing) not to exceed at any time outstanding the Available Commitment of such LenderLender then in effect; provided that the Lenders shall not be obligated to, and shall not, make any Advances as part of a Borrowing if after giving effect to such Borrowing the sum of the then-outstanding aggregate amount of all Borrowings shall exceed the aggregate amount of the Commitments then in effect. Each Borrowing shall be in an aggregate amount not less than of $5,000,000, £5,000,000, €5,000,000 or ¥500,000,000, as applicable, or an integral multiple of $1,000,000, £1,000,000, €1,000,000 or ¥100,000,000, as applicable, in excess thereof, except that any Borrowing may be in an amount equal to the remaining unused amount of the Commitments or the Equivalent thereof and in a Committed Currency. Each Borrowing shall consist of Advances of the same Type and, in the case of Eurodollar Rate Advances, having the same Interest Period and currency made or Converted on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Available Commitment, and subject to the conditions set forth in Article III and the other terms and conditions hereof, each Borrower may from time to time borrowmay borrow under this Section 2.01, prepay pursuant to Section 2.12 2.10 and reborrow under this Section 2.01; provided, that in no case shall any Lender be required to make an Advance to any Borrower hereunder if (i) the amount of such Advance would exceed such Lender’s Available Commitment, (ii) the making of such Advance, together with the making of the other Advances constituting part of the same Borrowing, would cause the total amount of all Outstanding Credits to exceed the aggregate amount of the Commitments or (iii) the amount of such Advance, together with all other Outstanding Credits for the account of such Borrower, would exceed such Borrower’s Borrower Sublimit.

Appears in 3 contracts

Sources: 364 Day Credit Agreement (Walt Disney Co), 364 Day Credit Agreement (Walt Disney Co), Credit Agreement (Walt Disney Co)

The Advances. (a) Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to each the Borrower in Dollars only from time to time on any Business Day during the period from the date hereof Effective Date until the Termination Date applicable to such Lender in an aggregate amount not to exceed at any time outstanding the Available Commitment of such Lender’s Commitment, provided, that, the Lenders shall not be obligated to, and shall not, make any Advances as part of a Borrowing if after giving effect to such Borrowing, the sum of the then outstanding aggregate amount of all Borrowings, the aggregate Swing Line Commitment then in effect (computed without giving regard to usage) and the then outstanding aggregate amount of all Letter of Credit Liability shall exceed the aggregate amount of the Commitments in effect from time to time. Each Borrowing shall be in an aggregate amount not less than (A) $5,000,000 or an 15,000,000, in the case of a Borrowing consisting of Eurodollar Rate Advances and (B) $1,000,000, in the case of a Borrowing consisting of Base Rate Advances, or, in each case, in integral multiple multiples of $1,000,000 in excess thereof and shall consist of Advances of the same Type and, in the case of Eurodollar Rate Advances, having the same Interest Period made or Converted on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Available Commitment, and subject to the conditions set forth in Article III and the other terms and conditions hereof, each Borrower may from time to time borrow, prepay pursuant to Section 2.12 2.10 and reborrow under this Section 2.01; provided, that in no case shall any Lender be required to make an Advance to any Borrower hereunder if (i) the amount of such Advance would exceed such Lender’s Available Commitment, (ii) the making of such Advance, together with the making of the other Advances constituting part of the same Borrowing, would cause the total amount of all Outstanding Credits to exceed the aggregate amount of the Commitments or (iii) the amount of such Advance, together with all other Outstanding Credits for the account of such Borrower, would exceed such Borrower’s Borrower Sublimit.

Appears in 2 contracts

Sources: Credit Agreement (Gap Inc), Credit Agreement (Gap Inc)

The Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to each Borrower in Dollars only from time to time on any Business Day during the period from the date hereof until the Termination Date applicable to such Lender in an aggregate amount not to exceed at any time outstanding the Available Commitment of such Lender. Each Borrowing shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof and shall consist of Advances of the same Type and, in the case of Eurodollar Rate Advances, having the same Interest Period made or Converted on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Available Commitment, and subject to the conditions set forth in Article III and the other terms and conditions hereof, each Borrower may from time to time borrow, prepay pursuant to Section 2.12 and reborrow under this Section 2.01; provided, that in no case shall any Lender be required to make an Advance to any Borrower hereunder if (i) the amount of such Advance would exceed such Lender’s Available Commitment, Commitment or (ii) the making of such Advance, together with the making of the other Advances constituting part of the same Borrowing, would cause the total amount of all Outstanding Credits to exceed the aggregate amount of the Commitments or (iii) the amount of such Advance, together with all other Outstanding Credits for the account of such Borrower, would exceed such Borrower’s Borrower SublimitCommitments.

Appears in 2 contracts

Sources: Credit Agreement, Credit Agreement (Firstenergy Corp)

The Advances. (a) Each Lender Bank severally agrees, on the terms and conditions hereinafter set forth, to make Revolving Credit Advances to each the Borrower in Dollars only from time to time on any Business Day during the period from the date hereof until the Termination Date applicable Date. After giving effect to any Borrowing, (i) the sum of the Revolving Credit Obligations shall not exceed the Total Commitment and (ii) the aggregate outstanding principal amount of the Advances of any Bank shall not exceed such Lender in an aggregate amount not Bank’s Commitments. (b) Each Borrowing shall consist of Advances of the same Type made on the same day to exceed at any time outstanding the Available Commitment of such Lendersame Borrower by the Banks ratably according to their respective Commitments. Each Borrowing shall be in an aggregate amount of: (i) in the case of a Borrowing comprised of Base Rate Advances, not less than $1,000,000 or an integral multiple of $1,000,000 in excess thereof; and (ii) in the case of a Borrowing comprised of Eurodollar Advances, not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof and shall consist of Advances of the same Type and, in the case of Eurodollar Rate Advances, having the same Interest Period made or Converted on the same day by the Lenders ratably according to their respective Commitments. thereof; (c) Within the limits of each LenderBank’s Available Commitment, and subject to the conditions set forth in Article III and the other terms and conditions hereof, each Borrower may from time to time borrow, prepay pursuant to Section 2.12 2.14, and reborrow Revolving Credit Advances under this Section 2.01; provided. (d) Each Bank severally agrees, that on the terms and conditions set forth in no case shall any Lender be required this Agreement, to make an a Term Advance to any the Borrower hereunder if in Dollars on the Stated Termination Date (iunless the Termination Date shall have occurred prior to such date) in an amount up to but not exceeding the amount of such Advance would exceed such Lender’s Available its Commitment, (ii) the making of such Advance, together with the making of the other . Term Advances constituting part of the same Borrowing, would cause the total amount of all Outstanding Credits to exceed the aggregate amount of the Commitments that are repaid or (iii) the amount of such Advance, together with all other Outstanding Credits for the account of such Borrower, would exceed such Borrower’s Borrower Sublimitprepaid may not be reborrowed.

Appears in 2 contracts

Sources: 364 Day Credit Agreement (Ecolab Inc), 364 Day Credit Agreement (Ecolab Inc)

The Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to each Borrower in Dollars only from time to time on any Business Day during the period from the date hereof until the latest Termination Date applicable to such Lender in an aggregate amount not to exceed at any time outstanding the Available Commitment of such Lender. Each Borrowing shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof and shall consist of Advances of the same Type and, in the case of Eurodollar Rate Advances, having the same Interest Period made or Converted on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Available Commitment, and subject to the conditions set forth in Article III and the other terms and conditions hereof, each Borrower may from time to time borrow, prepay pursuant to Section 2.12 2.11 and reborrow under this Section 2.01; provided, that in no case shall any Lender be required to make an Advance to any a Borrower hereunder if (i) the amount of such Advance would exceed such Lender’s Available Commitment, (ii) the making of such Advance, together with the making of the other Advances constituting part of the same Borrowing, would cause the total amount of all Outstanding Credits to exceed the aggregate amount of the Commitments or (iii) the amount of such Advance, together with all other Outstanding Credits for the account of such Borrower, would exceed such Borrower’s Borrower Sublimit.

Appears in 2 contracts

Sources: Credit Agreement (FirstEnergy Solutions Corp.), Credit Agreement (FirstEnergy Solutions Corp.)

The Advances. (a) Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to each the Borrower in Dollars only from time to time on any Business Day during the period from the date hereof Effective Date until the Commitment Termination Date applicable to such Lender in an aggregate amount not to exceed at any time outstanding the Available Commitment of amount set forth opposite such ▇▇▇▇▇▇’s name on Schedule I or, if such Lender has entered into an Assignment and Acceptance, set forth for such Lender in the Register, as such amount may be reduced pursuant to Section 2.04(a) or increased pursuant to Section 2.05 (such Lender. ’s “Commitment”). (b) Each Borrowing and each Conversion or Continuation thereof (i) shall be in an aggregate amount not less than of $5,000,000 10,000,000 or an integral multiple of $1,000,000 in excess thereof and (ii) shall consist of Advances of the same Type (and, in the case of Eurodollar Rate if such Advances are SOFR Advances, having the same Interest Period made Period) made, Continued or Converted on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Available Commitment, and subject to the conditions set forth in Article III and the other terms and conditions hereof, each Borrower may from time to time borrow, prepay pursuant to Section 2.12 2.11(b) and reborrow under this Section 2.01; provided, that in no case shall any Lender be required to make an Advance to any Borrower hereunder if (i) the amount of such Advance would exceed such Lender’s Available Commitment, (ii) the making of such Advance, together with the making of the other Advances constituting part of the same Borrowing, would cause the total amount of all Outstanding Credits to exceed the aggregate amount of the Commitments or (iii) the amount of such Advance, together with all other Outstanding Credits for the account of such Borrower, would exceed such Borrower’s Borrower Sublimit.

Appears in 2 contracts

Sources: Revolving Credit Agreement (Cna Financial Corp), Revolving Credit Agreement (Cna Financial Corp)

The Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to each the Borrower in Dollars U.S. dollars only from time to time on any Business Day during the period from the date hereof until the Termination Date applicable to such Lender in an aggregate amount not to exceed at any time outstanding the Available Commitment of such Lender. Each Borrowing shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof and shall consist of Advances of the same Type and, in the case of Eurodollar Rate Advances, having the same Interest Period made or Converted on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Available Commitment, Commitment and subject to the conditions set forth in Article III and the other terms and conditions hereof, each the Borrower may from time to time borrow, prepay pursuant to Section 2.12 2.11 and reborrow under this Section 2.01; provided, that in no case shall any Lender be required to make an Advance to any Borrower hereunder if (i) the amount of such Advance would exceed such Lender’s Available Commitment, Commitment or (ii) the making of such Advance, together with the making of the other Advances constituting part of the same Borrowing, would cause the total amount of all Outstanding Credits to exceed the aggregate amount of the Commitments or (iii) the amount of such Advance, together with all other Outstanding Credits for the account of such Borrower, would exceed such Borrower’s Borrower SublimitCommitments.

Appears in 2 contracts

Sources: Credit Agreement (Jersey Central Power & Light Co), Credit Agreement (Jersey Central Power & Light Co)

The Advances. (a) Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to each the Borrower in Dollars only from time to time on any Business Day during the period from the date hereof Effective Date until the Commitment Termination Date applicable to such Lender in an aggregate amount not to exceed at any time outstanding the Available Commitment of amount set opposite such Lender. ’s name on Schedule I or, if such Lender has entered into an Assignment and Acceptance, set forth for such Lender in the Register, as such amount may be reduced pursuant to Section 2.04(a) or increased pursuant to Section 2.05 (such Lender’s “Commitment”). (b) Each Borrowing and each Conversion or Continuation thereof (i) shall (except as otherwise provided in Sections 2.09(f) and (g)) be in an aggregate amount not less than of $5,000,000 10,000,000 or an integral multiple of $1,000,000 in excess thereof and (ii) shall consist of Advances of the same Type (and, in the case of if such Advances are Eurodollar Rate Advances, having the same Interest Period made Period) made, Continued or Converted on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Available Commitment, and subject to the conditions set forth in Article III and the other terms and conditions hereof, each Borrower may from time to time borrow, prepay pursuant to Section 2.12 2.11(b) and reborrow under this Section 2.01; provided, that in no case shall any Lender be required to make an Advance to any Borrower hereunder if (i) the amount of such Advance would exceed such Lender’s Available Commitment, (ii) the making of such Advance, together with the making of the other Advances constituting part of the same Borrowing, would cause the total amount of all Outstanding Credits to exceed the aggregate amount of the Commitments or (iii) the amount of such Advance, together with all other Outstanding Credits for the account of such Borrower, would exceed such Borrower’s Borrower Sublimit.

Appears in 2 contracts

Sources: Revolving Credit Agreement (Cna Financial Corp), Revolving Credit Agreement (Cna Financial Corp)

The Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to each the Borrower in Dollars U.S. dollars only from time to time on any Business Day during the period from the date hereof until the Termination Date applicable to such Lender in an aggregate amount not to exceed at any time outstanding the Available Commitment of such Lender. Each Borrowing shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof and shall consist of Advances of the same Type and, in the case of Eurodollar Rate Advances, having the same Interest Period made or Converted on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Available Commitment, Commitment and subject to the conditions set forth in Article III and the other terms and conditions hereof, each the Borrower may from time to time borrow, prepay pursuant to Section 2.12 2.10 and reborrow under this Section 2.01; provided, that in no case shall any Lender be required to make an Advance to any Borrower hereunder if (i) the amount of such Advance would exceed such Lender’s Available Commitment, Commitment or (ii) the making of such Advance, together with the making of the other Advances constituting part of the same Borrowing, would cause the total aggregate principal amount of all Outstanding Credits Advances outstanding to exceed the aggregate amount of the Commitments or (iii) the amount of such Advance, together with all other Outstanding Credits for the account of such Borrower, would exceed such Borrower’s Borrower SublimitCommitments.

Appears in 2 contracts

Sources: Credit Agreement (Jersey Central Power & Light Co), Credit Agreement (Jersey Central Power & Light Co)

The Advances. Each Lender Bank severally agrees, on the terms and conditions hereinafter set forth, to make one or more Advances to each Borrower in Dollars only the Borrowers from time to time on any Business Day during the period from the date hereof Effective Date until the Termination Date applicable to such Lender in an aggregate amount not to exceed at any time outstanding the Available amount equal to (a) its Ratable Portion of the Commitment Availability minus (b) such Bank's Ratable Portion of such Lender. Each Borrowing outstanding Letter of Credit Liabilities; provided that, no Advance shall be required to be made, except as part of a Borrowing that is in an aggregate amount not less than $5,000,000 or an 10,000,000 (and in integral multiple multiples of $1,000,000 in excess thereof thereof), and each Borrowing shall consist of Advances of the same Type and, having (in the case of Eurodollar Rate a Borrowing comprised of LIBOR Advances, having ) the same Interest Period Period, made or Converted on the same day by the Lenders Banks ratably according to their respective Commitments. Within the limits of each Lender’s Available Commitment, and subject to the conditions set forth in Article III and the other terms and conditions hereofpreceding sentence, each Borrower the Borrowers may from time to time borrow, prepay pursuant to Section 2.12 2.09 and reborrow under this Section 2.01; provided2.01 until the Termination Date, that but in no case shall event will any Lender Bank be required obligated to make an Advance to any Borrower hereunder Advance, if (i) the amount of such Advance plus all other Advances owed to such Bank plus such Bank's Ratable Portion of the Letter of Credit Liabilities would exceed such Lender’s Available Commitment, its Commitment or (ii) the making of such Advance, together with the making of the other Advances constituting part of the same Borrowing, would cause the total amount of all Outstanding Credits to exceed the aggregate amount of the Commitments or (iii) the amount of such Advance, together with Advance plus all other Outstanding Credits for the account Advances owed to all Banks plus all Letter of such Borrower, Credit Liabilities then outstanding would exceed such Borrower’s Borrower Sublimitthe Commitment Availability.

Appears in 1 contract

Sources: Credit Agreement (Ensco PLC)

The Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to each the Borrower in Dollars only from time to time on any Business Day during the period from the date hereof Effective Date until the Termination Date applicable to such Lender in an aggregate principal amount (based in respect of any Advance denominated in Sterling on the Equivalent in Dollars), not to exceed at any time outstanding the Available Commitment amount of such Lender’s Commitment less (i) such 68457597_7 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; provided, however, that after giving effect to any Advance, the aggregate Outstanding Amount of all Swing Line Loans (after giving effect to any repayment or prepayment thereof to occur immediately prior to or concurrently with such requested Advance, including with any portion of the proceeds thereof) plus the aggregate Outstanding Amount at such time of the Advances of the Lender acting as Swing Line Lender (including the requested Advance) plus the aggregate Outstanding Amount of such Lender’s participations in L/C Obligations shall not exceed such Lender’s Commitment. Each Borrowing shall be in an aggregate amount not less than of $5,000,000 (or the Equivalent thereof in Sterling) or an integral multiple of $1,000,000 (or the Equivalent thereof in Sterling) in excess thereof and shall consist of Advances of the same Type and, in the case of Eurodollar Rate Advances, having the same Interest Period made or Converted on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Available Commitment, and subject to the conditions set forth in Article III and the other terms and conditions hereof, each Borrower may from time to time borrowborrow under this Section 2.01, prepay pursuant to Section 2.12 2.11 and reborrow under this Section 2.01; provided, that in no case shall any Lender be required to make an Advance to any Borrower hereunder if (i) the amount of such Advance would exceed such Lender’s Available Commitment, (ii) the making of such Advance, together with the making of the other Advances constituting part of the same Borrowing, would cause the total amount of all Outstanding Credits to exceed the aggregate amount of the Commitments or (iii) the amount of such Advance, together with all other Outstanding Credits for the account of such Borrower, would exceed such Borrower’s Borrower Sublimit.

Appears in 1 contract

Sources: Credit Agreement (Invesco Ltd.)

The Advances. (a) Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to each the Borrower in Dollars only from time to time on any Business Day during the period from the date hereof until the Termination Date applicable to such Lender in an aggregate amount not to exceed at any time outstanding the Available Commitment of such Lender's Commitment, provided, that, the Lenders shall not be obligated to, and shall not, make any Advances as part of a Borrowing if after giving effect to such Borrowing, the sum of the then outstanding aggregate amount of all Borrowings, the aggregate Swing Line Commitment then in effect (computed without giving regard to usage), the then outstanding Hedge Agreements Exposure and the then outstanding aggregate amount of all Letter of Credit Liability shall exceed the aggregate amount of the Commitments in effect from time to time. Each Borrowing shall be in an aggregate amount not less than (A) $5,000,000 or an 10,000,000, in the case of a Borrowing consisting of Eurodollar Rate Advances and (B) $1,000,000, in the case of a Borrowing consisting of Base Rate Advances, or, in each case, in integral multiple multiples of $1,000,000 in excess thereof and shall consist of Advances of the same Type and, in the case of Eurodollar Rate Advances, having the same Interest Period made or Converted on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Available 's Commitment, and subject to the conditions set forth in Article III and the other terms and conditions hereof, each Borrower may from time to time borrow, prepay pursuant to Section 2.12 2.10 hereof and reborrow under this Section 2.01; provided, that in no case shall any Lender be required to make an Advance to any Borrower hereunder if (i) the amount of such Advance would exceed such Lender’s Available Commitment, (ii) the making of such Advance, together with the making of the other Advances constituting part of the same Borrowing, would cause the total amount of all Outstanding Credits to exceed the aggregate amount of the Commitments or (iii) the amount of such Advance, together with all other Outstanding Credits for the account of such Borrower, would exceed such Borrower’s Borrower Sublimit.

Appears in 1 contract

Sources: Credit Agreement (Gap Inc)

The Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to each Borrower in Dollars only from time to time on any Business Day during 753190870 the period from the date hereof until the Termination Date applicable to such Lender in an aggregate amount not to exceed at any time outstanding the Available Commitment of such Lender. Each Borrowing shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof and shall consist of Advances of the same Type and, in the case of Eurodollar Rate RateTerm Benchmark Advances, having the same Interest Period made or Converted on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Available Commitment, and subject to the conditions set forth in Article III and the other terms and conditions hereof, each Borrower may from time to time borrow, prepay pursuant to Section 2.12 and reborrow under this Section 2.01; provided, that in no case shall any Lender be required to make an Advance to any Borrower hereunder if (i) the amount of such Advance would exceed such Lender▇▇▇▇▇▇’s Available Commitment, (ii) the making of such Advance, together with the making of the other Advances constituting part of the same Borrowing, would cause the total amount of all Outstanding Credits to exceed the aggregate amount of the Commitments or (iii) the amount of such Advance, together with all other Outstanding Credits for the account of such Borrower▇▇▇▇▇▇▇▇, would exceed such Borrower▇▇▇▇▇▇▇▇’s Borrower Sublimit. For the avoidance of doubt, the making of, or Conversion into, RFR Advances, shall only be applicable as set forth in Section 2.14 or Section 2.23.

Appears in 1 contract

Sources: Credit Agreement (Firstenergy Corp)

The Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to each the Borrower in Dollars only from time to time on any Business Day during the period from the date hereof Funding Availability Date until the Termination Date applicable to such Lender in an aggregate amount not to exceed at any time outstanding the Available Commitment of such Lender. Each Borrowing shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof and shall consist of Advances of the same Type and, in the case of Eurodollar Rate ▇▇▇▇ ▇▇▇▇▇▇▇▇▇ Advances, having the same Interest Period made or Converted on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Available Commitment, and subject to the conditions set forth in Article III and the other terms and conditions hereof, each the Borrower may from time to time borrow, prepay pursuant to Section 2.12 and reborrow under this Section 2.01; provided, that in no case shall any Lender be required to make an Advance to any the Borrower hereunder if (i) the amount of such Advance would exceed such Lender▇▇▇▇▇▇’s Available Commitment, Commitment or (ii) the making of such Advance, together with the making of the other Advances constituting part of the same Borrowing, would cause the total amount of all Outstanding Credits to exceed the aggregate amount of the Commitments Commitments. For the avoidance of doubt, the making of, or (iii) the amount of such AdvanceConversion into, together with all other Outstanding Credits for the account of such BorrowerRFR Advances, would exceed such Borrower’s Borrower Sublimitshall only be applicable as set forth in Section 2.14 or Section 2.23.

Appears in 1 contract

Sources: Credit Agreement (Firstenergy Corp)

The Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to each the Borrower in Dollars only from time to time on any Business Day during the period from the date hereof until the Termination Date applicable to such Lender in an aggregate amount not to exceed at any time outstanding the Available Commitment of such Lender. Each Borrowing shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof and shall consist of Advances of the same Type and, in the case of Eurodollar Rate Advances, having the same Interest Period made or Converted on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Available Commitment, and subject to the conditions set forth in Article III and the other terms and conditions hereof, each the Borrower may from time to time borrow, prepay pursuant to Section 2.12 and reborrow under this Section 2.01; provided, that in no case shall any Lender be required to make an Advance to any the Borrower hereunder if (i) the amount of such Advance would exceed such Lender▇▇▇▇▇▇’s Available Commitment, Commitment or (ii) the making of such Advance, together with the making of the other Advances constituting part of the same Borrowing, would cause the total amount of all Outstanding Credits to exceed the aggregate amount of the Commitments or (iii) the amount of such Advance, together with all other Outstanding Credits for the account of such Borrower, would exceed such Borrower’s Borrower SublimitCommitments.

Appears in 1 contract

Sources: Credit Agreement (Jersey Central Power & Light Co)

The Advances. 744224750 Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to each Borrower in Dollars only from time to time on any Business Day during the period from the date hereof until the Termination Date applicable to such Lender in an aggregate amount not to exceed at any time outstanding the Available Commitment of such Lender. Each Borrowing shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof and shall consist of Advances of the same Type and, in the case of Eurodollar Rate Advances, having the same Interest Period made or Converted on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Available Commitment, and subject to the conditions set forth in Article III and the other terms and conditions hereof, each Borrower may from time to time borrow, prepay pursuant to Section 2.12 and reborrow under this Section 2.01; provided, that in no case shall any Lender be required to make an Advance to any Borrower hereunder if (i) the amount of such Advance would exceed such Lender’s Available Commitment, (ii) the making of such Advance, together with the making of the other Advances constituting part of the same Borrowing, would cause the total amount of all Outstanding Credits to exceed the aggregate amount of the Commitments or (iii) the amount of such Advance, together with all other Outstanding Credits for the account of such Borrower, would exceed such Borrower’s Borrower Sublimit.

Appears in 1 contract

Sources: Credit Agreement (Firstenergy Corp)

The Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to each Borrower in Dollars only from time to time on any Business Day during the period from the date hereof until the Termination Date applicable to such Lender in an aggregate amount not to exceed at any time outstanding the Available Commitment of such Lender. Each Borrowing shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof and shall consist of Advances of the same Type and, in the case of Eurodollar Rate Advances, having the same Interest Period made or Converted on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Available Commitment, and subject to the conditions set forth in Article III and the other terms and conditions hereof, each Borrower may from time to time borrow, prepay pursuant to Section 2.12 and reborrow under this Section 2.01; provided, that in no case shall any Lender be required to make an Advance to any Borrower hereunder if (i) the amount of such Advance would exceed such Lender▇▇▇▇▇▇’s Available Commitment, Commitment or (ii) the making of such Advance, together with the making of the other Advances constituting part of the same Borrowing, would cause the total amount of all Outstanding Credits to exceed the aggregate amount of the Commitments or (iii) the amount of such Advance, together with all other Outstanding Credits for the account of such Borrower, would exceed such Borrower’s Borrower SublimitCommitments.

Appears in 1 contract

Sources: Credit Agreement (FirstEnergy Transmission, LLC)

The Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to each Borrower in Dollars only from time to time on any Business Day during the period from the date hereof until the Termination Date applicable to such Lender in an aggregate amount not to exceed at any time outstanding the Available Commitment of such Lender. Each Borrowing shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof and shall consist of Advances of the same Type and, in the case of Eurodollar Rate Advances, having the same Interest Period made or Converted on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Available Commitment, and subject to the conditions set forth in Article III and the other terms and conditions hereof, each Borrower may from time to time borrow, prepay 744222473 pursuant to Section 2.12 and reborrow under this Section 2.01; provided, that in no case shall any Lender be required to make an Advance to any Borrower hereunder if (i) the amount of such Advance would exceed such Lender’s Available Commitment, (ii) the making of such Advance, together with the making of the other Advances constituting part of the same Borrowing, would cause the total amount of all Outstanding Credits to exceed the aggregate amount of the Commitments or (iii) the amount of such Advance, together with all other Outstanding Credits for the account of such Borrower, would exceed such Borrower’s Borrower Sublimit.

Appears in 1 contract

Sources: Credit Agreement (Firstenergy Corp)

The Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to each Borrower in Dollars only from time to time on any Business Day during the period from the date hereof until the Termination Date applicable to such Lender in an aggregate amount not to exceed at any time outstanding the Available Commitment of such Lender. Each Borrowing shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof and shall consist of Advances of the same Type and, in the case of Eurodollar Rate RateTerm Benchmark Advances, having the same Interest Period made or Converted on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Available Commitment, and subject to the conditions set forth in Article III and the other terms and conditions hereof, each Borrower may from time to time borrow, prepay pursuant to Section 2.12 and reborrow under this Section 2.01; provided, that in no case shall any Lender be required to make an Advance to any Borrower hereunder if (i) the amount of such Advance would exceed such Lender▇▇▇▇▇▇’s Available Commitment, Commitment or (ii) the making of such Advance, together with the making of the other Advances constituting part of the same Borrowing, would cause the total amount of all Outstanding Credits to exceed the aggregate amount of the Commitments Commitments. For the avoidance of doubt, the making of, or (iii) the amount of such AdvanceConversion into, together with all other Outstanding Credits for the account of such BorrowerRFR Advances, would exceed such Borrower’s Borrower Sublimitshall only be applicable as set forth in Section 2.14 or Section 2.23.

Appears in 1 contract

Sources: Credit Agreement (Firstenergy Corp)

The Advances. (a) Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to each the Borrower and to participate in Dollars only the issuance of Letters of Credit (and the LC Outstandings thereunder) from time to time on any Business Day during the period from the date hereof Effective Date until the Termination Date applicable to such Lender in an aggregate amount not to exceed at on any time outstanding the day such Lender's Available Commitment (after giving effect to all Extensions of Credit to be made on such Lenderday and the application of the proceeds thereof). Each Borrowing (other than a Borrowing deemed made under Section 3.04(d)) shall be in an aggregate amount not less than $5,000,000 5,000,000, or an integral multiple of $1,000,000 in excess thereof (or such lesser amount as shall be equal to the total amount of the Available Commitments on such date, after giving effect to all other Extensions of Credit to be made on such date), and shall consist of Advances of the same Type andType, having the same Interest Period (in the case of Eurodollar Rate Advances, having the same Interest Period ) and made or Converted on the same day by the Lenders ratably according to their respective CommitmentsPercentages. Within the limits of each Lender’s Available Commitment, 's Commitment and subject to the conditions hereinafter set forth in Article III and forth, the other terms and conditions hereof, each Borrower may from time to time borrowrequest Extensions of Credit hereunder, prepay pursuant to Section 2.12 Advances, or reduce or cancel Letters of Credit, and reborrow under this Section 2.01; provided, that use the resulting increase in no case shall any Lender be required to make an Advance to any Borrower hereunder if (i) the amount Available Commitments for further Extensions of such Advance would exceed such Lender’s Available Commitment, (ii) the making of such Advance, together Credit in accordance with the making terms hereof. (b) In no event shall the Borrower be entitled to request or receive any Extensions of the other Advances constituting part of the same Borrowing, Credit that would cause the total principal amount of all Outstanding Credits outstanding hereunder to exceed the aggregate amount of the Commitments or (iii) the amount of such Advance, together with all other Outstanding Credits for the account of such Borrower, would exceed such Borrower’s Borrower SublimitCommitments.

Appears in 1 contract

Sources: Credit Agreement (Commonwealth Edison Co)

The Advances. Each Lender Bank severally agrees, on the terms and conditions hereinafter set forth, to make one or more Advances to each Borrower in Dollars only the Borrowers from time to time on any Business Day during the period from the date hereof Effective Date until the Termination Date applicable to such Lender in an aggregate amount not to exceed at any time outstanding the Available amount equal to (a) such Bank’s Commitment minus (b) such Bank’s Ratable Portion of such Lender. Each Borrowing outstanding Letter of Credit Liabilities; provided that, no Advance shall be required to be made, except as part of a Borrowing that is in an aggregate amount not less than $5,000,000 or an 10,000,000 (and in integral multiple multiples of $1,000,000 in excess thereof thereof), and each Borrowing shall consist of Advances of the same Type and, having (in the case of Eurodollar Rate a Borrowing comprised of LIBOR Advances, having ) the same Interest Period Period, made or Converted on the same day by the Lenders Banks ratably according to their respective Commitments. Within the limits of each Lender’s Available Commitment, and subject to the conditions set forth in Article III and the other terms and conditions hereofpreceding sentence, each Borrower the Borrowers may from time to time borrow, prepay pursuant to Section 2.12 2.09 and reborrow under this Section 2.01; provided2.01 until the Termination Date, that but in no case shall event will any Lender Bank be required obligated to make an Advance to any Borrower hereunder Advance, if (i) the amount of such Advance plus all other Advances owed to such Bank plus such Bank’s Ratable Portion of the Letter of Credit Liabilities would exceed such Lender’s Available its Commitment, (ii) the making of such Advance, together with the making of the other Advances constituting part of the same Borrowing, would cause the total amount of all Outstanding Credits to exceed the aggregate amount of the Commitments or (iii) the amount of such Advance, together with all other Outstanding Credits for the account of such Borrower, would exceed such Borrower’s Borrower Sublimit.

Appears in 1 contract

Sources: Credit Agreement (Ensco PLC)

The Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to each the Borrower in Dollars only from time to time on any Business Day during the period from the date hereof until the Termination Date applicable to such Lender in an aggregate amount not to exceed at any time outstanding the Available Commitment of such Lender. Each Borrowing shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof and shall consist of Advances of the same Type and, in the case of Eurodollar Rate Advances, having the same Interest Period made or Converted on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Available Commitment, and subject to the conditions set forth in Article III and the other terms and conditions hereof, each the Borrower may from time to time borrow, prepay pursuant to Section 2.12 and reborrow under this Section 2.01; provided, that in no case shall any Lender be required to make an Advance to any the Borrower hereunder if (i) the amount of such Advance would exceed such Lender’s Available Commitment, Commitment or (ii) the making of such Advance, together with the making of the other Advances constituting part of the same Borrowing, would cause the total amount of all Outstanding Credits to exceed the aggregate amount of the Commitments or (iii) the amount of such Advance, together with all other Outstanding Credits for the account of such Borrower, would exceed such Borrower’s Borrower SublimitCommitments.

Appears in 1 contract

Sources: Credit Agreement (Firstenergy Corp)

The Advances. Each Lender Bank severally agrees, on the terms and conditions hereinafter set forth, to make Advances to each Borrower in Dollars only the Borrowers from time to time on any Business Day during the period from the date hereof Effective Date until the Termination Date applicable to such Lender in an aggregate amount with respect to all Borrowers (based in respect of any Advance denominated in an Alternative Currency of the Equivalent in Dollars on the Business Day such Advance is made), not to exceed at any time outstanding an amount (such Bank’s “Commitment”) equal to the Available Commitment amount set forth opposite such Bank’s name on Schedule I hereto or, if such Bank has entered into any assignment agreement, set forth for such Bank in the Register, as such amount may be reduced pursuant to Section 2.04 or increased pursuant to Section 2.17; provided that after giving effect to such Advances the maximum Advances that may be outstanding in any Alternative Currency shall not exceed the Equivalent of such Lender$150,000,000. Each Borrowing shall be in an aggregate amount of not less than $5,000,000 (or the Equivalent thereof in any Alternative Currency, determined as of the date of the applicable Notice of Borrowing) or an integral multiple of $1,000,000 (or the Equivalent thereof in any Alternative Currency, determined as of the date of the applicable Notice of Borrowing) in excess thereof and shall consist of Advances of the same Type and, in the case of Eurodollar Rate Advances, having the same Interest Period type made or Converted on the same day to the same Borrower by the Lenders Banks ratably according to in accordance with their respective Commitments. Within the limits of each LenderBank’s Available Commitment, and subject to the conditions set forth in Article III and the other terms and conditions hereof, each a Borrower may from time to time borrowborrow under this Section 2.01, prepay pursuant to Section 2.12 2.09, and reborrow under this Section 2.01; provided, that in no case shall any Lender be required to make an Advance to any Borrower hereunder if (i) the amount of such Advance would exceed such Lender’s Available Commitment, (ii) the making of such Advance, together with the making of the other Advances constituting part of the same Borrowing, would cause the total amount of all Outstanding Credits to exceed the aggregate amount of the Commitments or (iii) the amount of such Advance, together with all other Outstanding Credits for the account of such Borrower, would exceed such Borrower’s Borrower Sublimit.

Appears in 1 contract

Sources: Revolving Credit Agreement (Donnelley R R & Sons Co)

The Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to each the Borrower in Dollars only from time to time on any Business Day during the period from the date hereof until the Termination Date applicable to such Lender in an aggregate amount not to exceed at any time outstanding the Available Commitment of such Lender. Each Borrowing shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof and shall consist of Advances of the same Type and, in the case of Eurodollar Rate RateTerm Benchmark Advances, having the same Interest Period made or Converted on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Available Commitment, and subject to the conditions set forth in Article III and the other terms and conditions hereof, each the Borrower may from time to time borrow, prepay pursuant to Section 2.12 and reborrow under this Section 2.01; provided, that in no case shall any Lender be required to make an Advance to any the Borrower hereunder if (i) the amount of such Advance would exceed such Lender▇▇▇▇▇▇’s Available Commitment, Commitment or (ii) the making of such Advance, together with the making of the other Advances constituting part of the same Borrowing, would cause the total amount of all Outstanding Credits to exceed the aggregate amount of the Commitments Commitments. For the avoidance of doubt, the making of, or (iii) the amount of such AdvanceConversion into, together with all other Outstanding Credits for the account of such BorrowerRFR Advances, would exceed such Borrower’s Borrower Sublimitshall only be applicable as set forth in Section 2.14 or Section 2.23.

Appears in 1 contract

Sources: Credit Agreement (Jersey Central Power & Light Co)

The Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to each the Borrower in Dollars only from time to time on any Business Day during the period from the date hereof until the Termination Date applicable to such Lender in an aggregate amount not to exceed at any time outstanding the Available Commitment of such Lender. Each Borrowing shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof and shall consist of Advances of the same Type and, in the case of Eurodollar Rate Term Benchmark Advances, having the same Interest Period made or Converted on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Available Commitment, and subject to the conditions set forth in Article III and the other terms and conditions hereof, each the Borrower may from time to time borrow, prepay pursuant to Section 2.12 and reborrow under this Section 2.01; provided, that in no case shall any Lender be required to make an Advance to any the Borrower hereunder if (i) the amount of such Advance would exceed such Lender▇▇▇▇▇▇’s Available Commitment, Commitment or (ii) the making of such Advance, together with the making of the other Advances constituting part of the same Borrowing, would cause the total amount of all Outstanding Credits to exceed the aggregate amount of the Commitments Commitments. For the avoidance of doubt, the making of, or (iii) the amount of such AdvanceConversion into, together with all other Outstanding Credits for the account of such BorrowerRFR Advances, would exceed such Borrower’s Borrower Sublimitshall only be applicable as set forth in Section 2.14 or Section 2.23.

Appears in 1 contract

Sources: Credit Agreement (Firstenergy Corp)

The Advances. 744221928 Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to each Borrower in Dollars only from time to time on any Business Day during the period from the date hereof until the Termination Date applicable to such Lender in an aggregate amount not to exceed at any time outstanding the Available Commitment of such Lender. Each Borrowing shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof and shall consist of Advances of the same Type and, in the case of Eurodollar Rate Advances, having the same Interest Period made or Converted on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Available Commitment, and subject to the conditions set forth in Article III and the other terms and conditions hereof, each Borrower may from time to time borrow, prepay pursuant to Section 2.12 and reborrow under this Section 2.01; provided, that in no case shall any Lender be required to make an Advance to any Borrower hereunder if (i) the amount of such Advance would exceed such Lender’s Available Commitment, (ii) the making of such Advance, together with the making of the other Advances constituting part of the same Borrowing, would cause the total amount of all Outstanding Credits to exceed the aggregate amount of the Commitments or (iii) the amount of such Advance, together with all other Outstanding Credits for the account of such Borrower, would exceed such Borrower’s Borrower Sublimit.

Appears in 1 contract

Sources: Credit Agreement (Firstenergy Corp)

The Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to each the Borrower in Dollars only or an Alternate Currency from time to time on any Business Day during the period from the date hereof until the Termination Date applicable to such Lender Commitment Period in an aggregate amount that, when added to such Lender’s L/C Obligations then outstanding, will not to exceed result in such Lender’s Revolving Credit Exposure exceeding at any time outstanding the Available Commitment of amount set forth opposite such Lender’s name on Schedule 2.01 hereto or, if such Lender has entered into any Assignment and Acceptance or is an Additional Lender, as set forth for such Lender in the Register maintained by the Agent pursuant to Section 9.07(c), as such amount may be reduced or increased pursuant to Section 2.04 or 2.05 (such Lender’s “Commitment”); provided that, with respect to Borrowings made in an Alternate Currency, (i) all such Borrowings shall consist of Eurocurrency Rate Advances and (ii) the aggregate principal amount of any such Borrowings will not result immediately after giving effect to such Borrowing in the Alternate Currency Exposure exceeding the Alternate Currency Sublimit. Each Borrowing shall be in an aggregate amount not less than of $5,000,000 10,000,000 or an integral multiple of $1,000,000 (or comparable amounts determined by the Agent in the case of a Borrowing in an Alternate Currency) in excess thereof and shall consist of Advances of the same Type and, in the case of Eurodollar Rate Advances, having the same Interest Period made or Converted on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Available Commitmentthis Section 2.01, and subject to the conditions set forth in Article III and the other terms and conditions hereof, each Borrower may from time to time borrowborrow under this Section 2.01, prepay pursuant to Section 2.12 2.10 and reborrow under this Section 2.01; provided, that in no case shall any Lender be required to make an Advance to any Borrower hereunder if (i) the amount of such Advance would exceed such Lender’s Available Commitment, (ii) the making of such Advance, together with the making of the other Advances constituting part of the same Borrowing, would cause the total amount of all Outstanding Credits to exceed the aggregate amount of the Commitments or (iii) the amount of such Advance, together with all other Outstanding Credits for the account of such Borrower, would exceed such Borrower’s Borrower Sublimit.

Appears in 1 contract

Sources: Revolving Credit Agreement (Oracle Corp)

The Advances. (i) Each Lender Bank severally agrees, on the terms and conditions hereinafter set forth, to make Advances to each the Borrower in Dollars only from time to time on any Business Day during the period from the date hereof until the Termination Date applicable to such Lender in an aggregate amount not to exceed at any time outstanding the Available Commitment amount set opposite such Bank's name on the signature pages hereof or, if such Bank has entered into any Assignment and Acceptance, set forth for such Bank in the Register, as such amount may be increased or reduced pursuant to Section 2.03 (such Bank's "Commitment"). (ii) If after giving effect to any LIBO Rate Advances under this Section 2.01(a) more than twelve separate Interest Periods in respect of LIBO Rate Advances would be outstanding at the same time, then such Lender. Advances shall not be required to be made as LIBO Rate Advances. (b) Each Borrowing (i) shall (except as otherwise provided in Sections 2.08(c) and (d)) be in an aggregate amount not less than $5,000,000 10,000,000 or an integral multiple of $1,000,000 in excess thereof and (ii) shall consist of Advances of the same Type (and, in the case of Eurodollar if such Advances are LIBO Rate Advances, having the same Interest Period made Period), and made, Converted or Converted Continued on the same day by the Lenders Banks ratably according to their respective Commitments. Within the limits of each Lender’s Available Commitment, and subject Subject to the conditions set forth in Article III and the other terms and conditions hereofof this Agreement, each the Borrower may from time to time borrowborrow under this Section 2.01, prepay pursuant to Section 2.12 2.09(b) and reborrow under this Section 2.01the amount of the Commitments; provided, that in no case such reborrowing shall be permitted hereunder at any Lender be required to make an Advance to any Borrower hereunder if (i) time if, after giving effect thereto, the aggregate outstanding principal amount of such Advance Advances would exceed such Lender’s Available Commitment, (ii) the making of such Advance, together with the making of the other Advances constituting part of the same Borrowing, would cause the total amount of all Outstanding Credits to exceed the aggregate amount of the Commitments at such time. (c) The Advances of each Bank made to the Borrower under this Section 2.01 shall be evidenced by a single promissory note of the Borrower in the amount of such Bank's Commitment in substantially the form of Exhibit A. (i) The Borrower shall give the Administrative Agent notice of each Borrowing not later than (x) 12:00 noon (New York City time) on the third Business Day prior to the date of such Borrowing in the case of a Borrowing consisting of LIBO Rate Advances, or than (y) 11:00 A.M. (New York City time) on the Business Day of the proposed Borrowing in the case of a Borrowing consisting of Base Rate Advances, and the Administrative Agent shall give to each Bank prompt notice thereof by telecopier, telex or cable. Each such notice of a Borrowing (a "Notice of Borrowing") shall be by telecopier, telex or cable, in substantially the form of Exhibit B, specifying therein (i) the requested date of such Borrowing, (ii) the requested Type of Advances comprising such Credit Agreement Borrowing, (iii) the requested aggregate amount of such Borrowing, and (iv) in the case of a Borrowing consisting of LIBO Rate Advances, the requested initial Interest Period for each such Advance. (ii) Each Bank shall, together with all other Outstanding Credits before 1:00 P.M. New York City time on the date of such Borrowing, make available for the account of its Applicable Lending Office to the Administrative Agent at the Administrative Agent's Account, in same day funds, such Bank's ratable portion of such Borrowing. After the Administrative Agent's receipt of such funds and upon fulfillment of the applicable conditions set forth in Article III, the Administrative Agent will make such funds available to the applicable Borrower at such account as the Borrower and the Administrative Agent may agree. (e) Each Notice of Borrowing shall be irrevocable and binding on the Borrower. In the case of any Borrowing which the related Notice of Borrowing specifies is to be comprised of LIBO Rate Advances, the Borrower shall indemnify each Bank against any loss, cost or expense incurred by such Bank as a result of any failure to fulfill, on or before the date specified in such Notice of Borrowing, the applicable conditions set forth in Article III, including, without limitation, any loss (excluding loss of anticipated profits), cost or expense incurred by reason of the liquidation or reemployment of deposits or other funds acquired by such Bank to fund the Advance to be made by such Bank as part of such Borrowing. The Borrower shall not be liable under this clause for the payment of any amounts incurred or accrued more than 180 days prior to the date on which notice of the event or circumstance giving rise to the obligation to make such payment is given to the Borrower hereunder, except to the extent such amounts were incurred or accrued prior to such date due solely to the retroactive nature of the relevant requirement. The Borrower shall pay amounts owing to any Bank pursuant to this Section 2.01(e) within 30 days after receipt from such Bank of a certificate setting forth in reasonable detail the calculation of the amount such Bank is entitled to claim under this Section 2.01(e) (which certificate shall be conclusive and binding on the Borrower, would exceed absent manifest error). If the Borrower objects in good faith to any payment demanded under this clause on or before the date such payment is due, then the Borrower and the Bank demanding such payment shall enter into discussions to review the amount due, and the Borrower’s 's obligation to pay such amount to such Bank shall be deferred for 45 days after the original demand for payment, and if the Borrower Sublimitand such Bank do not reach agreement during such 45-day period on the amount due, the Borrower shall pay to such Bank at the end of such 45-day period the amount certified by such Bank to be due. (f) Unless the Administrative Agent shall have received notice from a Bank prior to the date of any Borrowing that such Bank will not make available to the Administrative Agent such Bank's ratable portion of such Borrowing, the Administrative Agent may assume that such Bank has made such portion available to the Administrative Agent on the date of such Borrowing in accordance with Section 2.01(d) and the Administrative Agent may, in reliance upon such assumption, make available to the applicable Borrower on such date a corresponding amount. If and to the extent that such Bank shall not have so made such ratable portion available to the Administrative Agent, such Bank and the Borrower severally agree to repay to the Credit Agreement Administrative Agent forthwith on demand such corresponding amount together with interest thereon, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the interest rate applicable at the time to the Advances and (ii) in the case of such Bank, the Federal Funds Rate. If such Bank shall repay to the Administrative Agent such corresponding amount, such amount so repaid shall constitute such Bank's Advance as part of such Borrowing for purposes of this Agreement (and such Advance shall be deemed to have been made by such Bank on the date on which such amount is so repaid to the Administrative Agent). (g) The failure of any Bank to make the Advance to be made by it as part of any Borrowing shall not relieve any other Bank of its obligation, if any, hereunder to make its Advance on the date of such Borrowing, but no Bank shall be responsible for the failure of any other Bank to make the Advance to be made by such other Bank on the date of any Borrowing. (h) The Advances of each Type made by each Bank shall be made and maintained at such Bank's Applicable Lending Office for Advances of such Type.

Appears in 1 contract

Sources: Credit Agreement (Young & Rubicam Inc)

The Advances. Each Lender Bank severally agrees, on the terms and conditions hereinafter set forth, to make Advances to each Borrower in Dollars only the Borrowers from time to time on any Business Day during the period from the date hereof Effective Date until the Termination Date applicable to such Lender in an aggregate amount Original Dollar Amount with respect to all Borrowers not to exceed at any time outstanding an amount (such Bank's "Available Commitment") equal to: (a) the Available Commitment lesser of: (i) such Bank's Pro Rata Share of an amount equal to 85% of the aggregate Receivables of the Borrowers, and (ii) the amount set forth opposite such LenderBank's name on Schedule 2.01 hereto or, if such Bank has entered into any Assignment and Acceptance, set forth for such Bank in the Register, as such amount may be reduced pursuant to Section 2.05 (such Bank's "Commitment") minus (b) such Bank's Pro Rata Share of the aggregate outstanding L/C Obligations. Each Borrowing shall be in an aggregate amount of not less than (x) in the case of Base Rate Advances, $5,000,000 100,000 or an integral multiple thereof or (y) in the case of Eurocurrency Rate Advances, $1,000,000 or in an integral multiple of $1,000,000 100,000 in excess thereof or, if the requested currency for such Advance is not U.S. Dollars, an approximately equivalent amount and multiple thereof determined by the Administrative Agent in accordance with Section 2.16 and rounded to the nearest 10,000 units of the requested Alternative Currency. Each Borrowing shall consist of Advances of the same Type and, in the case of Eurodollar Rate Advances, having the same Interest Period made or Converted on the same day to the same Borrower by the Lenders Banks ratably according to their respective CommitmentsCommitments in the currency so requested. Within the limits of each Lender’s Bank's Available Commitment, and subject to the conditions set forth in Article III and the other terms and conditions hereof, each a Borrower may from time to time borrowborrow under this Section 2.01, prepay pursuant to Section 2.12 2.10, and reborrow under this Section 2.01; provided, that in no case shall any Lender be required to make an Advance to any Borrower hereunder if (i) the amount of such Advance would exceed such Lender’s Available Commitment, (ii) the making of such Advance, together with the making of the other Advances constituting part of the same Borrowing, would cause the total amount of all Outstanding Credits to exceed the aggregate amount of the Commitments or (iii) the amount of such Advance, together with all other Outstanding Credits for the account of such Borrower, would exceed such Borrower’s Borrower Sublimit.

Appears in 1 contract

Sources: Credit Agreement (Donnelley Enterprise Solutions Inc)

The Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to each the Borrower in Dollars only from time to time on any Business Day during the period from the date hereof Effective Date until the Termination Date applicable to such Lender in an aggregate principal 91839933_4 amount (based in respect of any Advance denominated in Sterling on the Equivalent in Dollars), not to exceed at any time outstanding the Available Commitment amount of such Lender’s Commitment 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; provided, however, that after giving effect to any Advance, the aggregate Outstanding Amount of all Swing Line Loans (after giving effect to any repayment or prepayment thereof to occur immediately prior to or concurrently with such requested Advance, including with any portion of the proceeds thereof) plus the aggregate Outstanding Amount at such time of the Advances of the Lender acting as Swing Line Lender (including the requested Advance) plus the aggregate Outstanding Amount of such Lender’s participations in L/C Obligations shall not exceed such Lender’s Commitment. Each Borrowing shall be in an aggregate amount not less than of $5,000,000 (or the Equivalent thereof in Sterling) or an integral multiple of $1,000,000 (or the Equivalent thereof in Sterling) in excess thereof and shall consist of Advances of the same Type and, in the case of Eurodollar Rate Advances, having the same Interest Period made or Converted on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Available Commitment, and subject to the conditions set forth in Article III and the other terms and conditions hereof, each Borrower may from time to time borrowborrow under this Section 2.01, prepay pursuant to Section 2.12 2.11 and reborrow under this Section 2.01; provided, that in no case shall any Lender be required to make an Advance to any Borrower hereunder if (i) the amount of such Advance would exceed such Lender’s Available Commitment, (ii) the making of such Advance, together with the making of the other Advances constituting part of the same Borrowing, would cause the total amount of all Outstanding Credits to exceed the aggregate amount of the Commitments or (iii) the amount of such Advance, together with all other Outstanding Credits for the account of such Borrower, would exceed such Borrower’s Borrower Sublimit.

Appears in 1 contract

Sources: Credit Agreement (Invesco Ltd.)

The Advances. Each Lender Bank severally agrees, on the terms and conditions hereinafter set forthforth in this Agreement, to make Advances to each the Borrower in Dollars only from time to time on any Business Day during the period from the date hereof of this Agreement until the Termination Maturity Date applicable to such Lender in an aggregate amount not to exceed at any time outstanding (i) the Available amount set opposite such Bank's name on the signature pages of this Agreement as its Commitment, or if such Bank has entered into any Assignment and Acceptance after the Effective Date, set forth for such Bank as its Commitment in the Register maintained by the Agent pursuant to Section 9.06(b), as such amount may be reduced pursuant to Section 2.04 (such Bank's "Commitment") less (ii) such Bank's Pro Rata Share of the Letter of Credit Exposure at such Lendertime; provided that the aggregate principal amount of outstanding Advances, plus the Letter of Credit Exposure, plus the aggregate principal amount of outstanding Swing Loans shall never exceed $75,000,000.00. Each Borrowing shall (i) be in an aggregate amount not less than (a) in the case of Base Rate Advances, $5,000,000 or an 500,000.00 and in integral multiple multiples of $1,000,000 100,000.00 in excess thereof and shall consist of Advances of the same Type and, (B) in the case of Eurodollar Rate Advances, having $3,000,000.00 and in integral multiples of $1,000,000.00 in excess thereof, provided that such limits shall not apply to Advances which refinance Swing Loans or reimburse drawings under any Letter of Credit and (ii) consist of Advances of the same Interest Period Type made or Converted on the same day by the Lenders Banks ratably according to their respective Commitments. Within the limits of each Lender’s Available Bank's Commitment, and subject to the conditions set forth in Article III and the other terms and conditions hereof, each Borrower may from time to time borrow, prepay pursuant to Section 2.12 2.07 and reborrow under this Section 2.01; provided, that in no case shall any Lender be required to make an Advance to any Borrower hereunder if (i) the amount of such Advance would exceed such Lender’s Available Commitment, (ii) the making of such Advance, together with the making of the other Advances constituting part of the same Borrowing, would cause the total amount of all Outstanding Credits to exceed the aggregate amount of the Commitments or (iii) the amount of such Advance, together with all other Outstanding Credits for the account of such Borrower, would exceed such Borrower’s Borrower Sublimit.

Appears in 1 contract

Sources: Credit Agreement (Advance Paradigm Inc)

The Advances. Each Lender Bank severally agrees, on the terms and conditions hereinafter set forth, to make one or more Advances to each Borrower in Dollars only the Borrowers from time to time on any Business Day during the period from the date hereof Effective Date until the such Bank’s Termination Date applicable to such Lender in an aggregate amount not to exceed at any time outstanding the Available amount equal to (a) such Bank’s Commitment minus (b) such Bank’s Ratable Portion of such Lender. Each Borrowing outstanding Letter of Credit Liabilities; provided that, no Advance shall be required to be made, except as part of a Borrowing that is in an aggregate amount not less than $5,000,000 or an 10,000,000 (and in integral multiple multiples of $1,000,000 in excess thereof thereof), and each Borrowing shall consist of Advances of the same Type and, having (in the case of Eurodollar Rate a Borrowing comprised of LIBOR Advances, having ) the same Interest Period Period, made or Converted on the same day by the Lenders Banks ratably according to their respective Commitments. Within the limits of each Lender’s Available Commitment, and subject to the conditions set forth in Article III and the other terms and conditions hereofpreceding sentence, each Borrower the Borrowers may from time to time borrow, prepay pursuant to Section 2.12 2.09 and reborrow under this Section 2.01; provided2.01 until the Termination Date applicable to each Bank, that but in no case shall event will any Lender Bank be required obligated to make an Advance to any Borrower hereunder Advance, if (i) the amount of such Advance plus all other Advances owed to such Bank plus such Bank’s Ratable Portion of the Letter of Credit Liabilities would exceed such Lender’s Available its Commitment, (ii) the making of such Advance, together with the making of the other Advances constituting part of the same Borrowing, would cause the total amount of all Outstanding Credits to exceed the aggregate amount of the Commitments or (iii) the amount of such Advance, together with all other Outstanding Credits for the account of such Borrower, would exceed such Borrower’s Borrower Sublimit.

Appears in 1 contract

Sources: Commitment Agreement and Fifth Amendment to Fourth Amended and Restated Credit Agreement (Ensco PLC)

The Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to each the Borrower in Dollars only or Borrowing Subsidiary from time to time on any Business Day during the period from the date hereof until the Termination Date applicable to such Lender in an aggregate amount not to exceed at any time outstanding the Available Commitment of amount set opposite such Lender’s name on Schedule I hereto, if such Lender has entered into an Assumption Agreement, set forth for such Lender in such Assumption Agreement or, if such Lender has entered into any Assignment and Assumption, set forth for such Lender in the Register maintained by the Administrative Agent pursuant to Section 8.07(c), as such amount may be reduced pursuant to Section 2.04 (such Lender’s “Commitment”). Each Borrowing shall be in an aggregate amount not less than $5,000,000 10,000,000 or an integral multiple of $1,000,000 in excess thereof (unless the aggregate amount of the unused Commitments is less than $10,000,000, in which case such Borrowing shall be equal to the aggregate amount of the NYDOCS01/1619389.2 unused Commitments) and shall consist of Advances of the same Type and, in the case of Eurodollar Rate Advances, and having the same Interest Period made or Converted on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Available Commitment, and subject to the conditions set forth in Article III and the other terms and conditions hereof, each Borrower may from time to time borrow, prepay pursuant to Section 2.12 2.09 and reborrow under this Section 2.01; provided, that in no case shall any Lender be required to make an Advance to any Borrower hereunder if (i) the amount of such Advance would exceed such Lender’s Available Commitment, (ii) the making of such Advance, together with the making of the other Advances constituting part of the same Borrowing, would cause the total amount of all Outstanding Credits to exceed the aggregate amount of the Commitments or (iii) the amount of such Advance, together with all other Outstanding Credits for the account of such Borrower, would exceed such Borrower’s Borrower Sublimit.

Appears in 1 contract

Sources: Credit Agreement (Colgate Palmolive Co)

The Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances in U.S. dollars to each the Borrower in Dollars only or Borrowing Subsidiary from time to time on any Business Day during the period from the date hereof until the Termination Date applicable to such Lender in an aggregate amount not to exceed at any time outstanding the Available Commitment of amount set opposite such Lender’s name on Schedule I hereto, if such Lender has entered into an Assumption Agreement, set forth for such Lender in such Assumption Agreement or, if such Lender has entered into any Assignment and Assumption, set forth for such Lender in the Register maintained by the Administrative Agent pursuant to Section 8.07(c), as such amount may be reduced pursuant to Section 2.04 (such Lender’s “Commitment”). Each Borrowing shall be in an aggregate amount not less than $5,000,000 10,000,000 or an integral multiple of $1,000,000 in excess thereof (unless the aggregate amount of the unused Commitments is less than $10,000,000, in which case such Borrowing shall be equal to the aggregate amount of the unused Commitments) and shall consist of Advances of the same Type and, in the case of Eurodollar Rate Advances, and having the same Interest Period made or Converted on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Available Commitment, and subject to the conditions set forth in Article III and the other terms and conditions hereof, each Borrower may from time to time borrow, prepay pursuant to Section 2.12 2.09 and reborrow under this Section 2.01; provided, that in no case shall any Lender be required to make an Advance to any Borrower hereunder if (i) the amount of such Advance would exceed such Lender’s Available Commitment, (ii) the making of such Advance, together with the making of the other Advances constituting part of the same Borrowing, would cause the total amount of all Outstanding Credits to exceed the aggregate amount of the Commitments or (iii) the amount of such Advance, together with all other Outstanding Credits for the account of such Borrower, would exceed such Borrower’s Borrower Sublimit.

Appears in 1 contract

Sources: Credit Agreement (Colgate Palmolive Co)

The Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to each the Borrower in Dollars only from time to time on any Business Day during the period from the date hereof Effective Date until the Termination Date applicable to such Lender in an aggregate amount (based in respect of any Advances denominated in a Committed Currency on the Equivalent in Dollars determined on the date of delivery of the applicable Notice of Borrowing) not to exceed at any time outstanding the Available Commitment of such LenderLender then in effect; provided that the Lenders shall not be obligated to, and shall not, make any Advances as part of a Borrowing if after giving effect to such Borrowing the sum of the then-outstanding aggregate amount of all Borrowings shall exceed the aggregate amount of the Commitments then in effect. Each Borrowing shall be in an aggregate amount not less than of $5,000,000, £5,000,000, €5,000,000 or ¥500,000,000, as applicable, or an integral multiple of $1,000,000, £1,000,000, €1,000,000 or ¥100,000,000, as applicable, in excess thereof, except that any Borrowing may be in an amount equal to the remaining unused amount of the Commitments or the Equivalent thereof and in a Committed Currency. Each Borrowing shall consist of Advances of the same Type and, in the case of Eurodollar Rate Advances, having the same Interest Period made or Converted on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Available Commitment, and subject to the conditions set forth in Article III and the other terms and conditions hereof, each Borrower may from time to time borrowmay borrow under this Section 2.01, prepay pursuant to Section 2.12 2.10 and reborrow under this Section 2.01; provided, that in no case shall any Lender be required to make an Advance to any Borrower hereunder if (i) the amount of such Advance would exceed such Lender’s Available Commitment, (ii) the making of such Advance, together with the making of the other Advances constituting part of the same Borrowing, would cause the total amount of all Outstanding Credits to exceed the aggregate amount of the Commitments or (iii) the amount of such Advance, together with all other Outstanding Credits for the account of such Borrower, would exceed such Borrower’s Borrower Sublimit.

Appears in 1 contract

Sources: 364 Day Credit Agreement (Walt Disney Co/)

The Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to each Borrower in Dollars only from time to time on any Business Day during the period from the date hereof until the Termination Date applicable to such Lender in an aggregate amount not to exceed at any time outstanding the Available Commitment of such Lender. Each Borrowing shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof and shall consist of Advances of the same Type and, in the case of Eurodollar Rate RateTerm Benchmark Advances, having the same Interest Period made or Converted on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Available Commitment, and subject to the conditions set forth in Article III and the other terms and conditions hereof, each Borrower may from time to time borrow, prepay pursuant to Section 2.12 and reborrow under this Section 2.01; provided, that in no case shall any Lender be required to make an Advance to any Borrower hereunder if (i) the amount of such Advance would exceed such Lender’s Available Commitment, Commitment or (ii) the making of such Advance, together with the making of the other Advances constituting part of the same Borrowing, would cause the total amount of all Outstanding Credits to exceed the aggregate amount of the Commitments Commitments. For the avoidance of doubt, the making of, or (iii) the amount of such AdvanceConversion into, together with all other Outstanding Credits for the account of such BorrowerRFR Advances, would exceed such Borrower’s Borrower Sublimitshall only be applicable as set forth in Section 2.14 or Section 2.23.

Appears in 1 contract

Sources: Credit Agreement (FirstEnergy Transmission, LLC)

The Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to each Borrower in Dollars only from time to time on any Business Day during the period from the date hereof until the latest Termination Date applicable to such Lender in an aggregate amount not to exceed at any time outstanding the Available Commitment of such Lender. Each Borrowing shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof and shall consist of Advances of the same Type and, in the case of Eurodollar Rate Advances, having the same Interest Period made or Converted on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Available Commitment, and subject to the conditions set forth in Article III and the other terms and conditions hereof, each Borrower may from time to time borrow, prepay pursuant to Section 2.12 2.11 and reborrow under this Section 2.01; provided, that in no case shall any Lender be required to make an Advance to any a Borrower hereunder if (i) the amount of such Advance would exceed such Lender▇▇▇▇▇▇’s Available Commitment, (ii) the making of such Advance, together with the making of the other Advances constituting part of the same Borrowing, would cause the total amount of all Outstanding Credits to exceed the aggregate amount of the Commitments or (iii) the amount of such Advance, together with all other Outstanding Credits for the account of such Borrower▇▇▇▇▇▇▇▇, would exceed such Borrower▇▇▇▇▇▇▇▇’s Borrower Sublimit.

Appears in 1 contract

Sources: Credit Agreement

The Advances. (a) Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to each the Borrower in Dollars only from time to time on any Business Day during the period from the date hereof Effective Date until the Commitment Termination Date applicable to such Lender in an aggregate amount not to exceed at any time outstanding the Available Commitment of amount set forth opposite such ▇▇▇▇▇▇’s name on Schedule I or, if such Lender has entered into an Assignment and Acceptance, set forth for such Lender in the Register, as such amount may be reduced pursuant to Section 2.04(a) or increased pursuant to Section 2.05 (such Lender. ’s “Commitment”). (b) Each Borrowing and each Conversion or Continuation thereof (i) shall (except as otherwise provided in Sections 2.09(g) and (h)) be in an aggregate amount not less than of $5,000,000 10,000,000 or an integral multiple of $1,000,000 in excess thereof and (ii) shall consist of Advances of the same Type (and, in the case of if such Advances are Eurodollar Rate RateSOFR Advances, having the same Interest Period made Period) made, Continued or Converted on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Available Commitment, and subject to the conditions set forth in Article III and the other terms and conditions hereof, each Borrower may from time to time borrow, prepay pursuant to Section 2.12 2.11(b) and reborrow under this Section 2.01; provided, that in no case shall any Lender be required to make an Advance to any Borrower hereunder if (i) the amount of such Advance would exceed such Lender’s Available Commitment, (ii) the making of such Advance, together with the making of the other Advances constituting part of the same Borrowing, would cause the total amount of all Outstanding Credits to exceed the aggregate amount of the Commitments or (iii) the amount of such Advance, together with all other Outstanding Credits for the account of such Borrower, would exceed such Borrower’s Borrower Sublimit.

Appears in 1 contract

Sources: Revolving Credit Agreement (Cna Financial Corp)

The Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to each the Borrower in Dollars only from time to time on any Business Day during the period from the date hereof until the Termination Date applicable to such Lender in an aggregate amount not to exceed at any time outstanding the Available Commitment of such Lender. Each Borrowing shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof and shall consist of Advances of the same Type and, in the case of Eurodollar Rate ▇▇▇▇ ▇▇▇▇▇▇▇▇▇ Advances, having the same Interest Period made or Converted on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Available Commitment, and subject to the conditions set forth in Article III and the other terms and conditions hereof, each the Borrower may from time to time borrow, prepay pursuant to Section 2.12 and reborrow under this Section 2.01; provided, that in no case shall any Lender be required to make an Advance to any the Borrower hereunder if (i) the amount of such Advance would exceed such Lender▇▇▇▇▇▇’s Available Commitment, Commitment or (ii) the making of such Advance, together with the making of the other Advances constituting part of the same Borrowing, would cause the total amount of all Outstanding Credits to exceed the aggregate amount of the Commitments Commitments. For the avoidance of doubt, the making of, or (iii) the amount of such AdvanceConversion into, together with all other Outstanding Credits for the account of such BorrowerRFR Advances, would exceed such Borrower’s Borrower Sublimitshall only be applicable as set forth in Section 2.14 or Section 2.23.

Appears in 1 contract

Sources: Credit Agreement (FirstEnergy Transmission, LLC)