The Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to the Borrowers from time to time on any Business Day during the period from the Effective Date until the Termination Date in an aggregate amount not to exceed at any time outstanding the amount set forth opposite such Lender’s name on Schedule II hereto hereof or, if such Lender has entered into any Assignment and Assumption, set forth for such Lender in the Register maintained by the 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 of $1,000,000 or an integral multiple of $500,000 in excess thereof and shall consist of Advances made on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Commitment, the Borrowers may borrow under this Section 2.01, prepay pursuant to Section 2.09 and reborrow under this Section 2.01. The right of any Borrower to obtain an Advance hereunder, as opposed to the right of any other Borrower, shall be on a “first come, first served” basis.
Appears in 2 contracts
Sources: Credit Agreement (Mirae Asset Discovery Funds), Credit Agreement (Mirae Asset Discovery Funds)
The Advances. (a) Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to the Borrowers Borrower from time to time on any Business Day during the period from the Effective Date until date hereof to and including the Commitment Termination Date Date, in an aggregate amount outstanding not to exceed at any time outstanding the amount set forth opposite such Lender’s 's name on Schedule II I hereto hereof or, if such Lender has entered into any Assignment and AssumptionAcceptance, 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 2.04(a) or increased pursuant to Section 2.04(b) (such Lender’s “'s "Commitment”"). Each Borrowing shall be in an aggregate amount of not less than $1,000,000 10,000,000 or an integral multiple of $500,000 1,000,000 in excess thereof and shall consist of Advances of the same Type made on the same day by the Lenders ratably according to their respective Commitments. Within Until the Commitment Termination Date, within the limits of each Lender’s 's Commitment, the Borrowers Borrower may borrow under this from time to time borrow, repay pursuant to Section 2.01, 2.05 or prepay pursuant to Section 2.09 2.10(b) and reborrow under this Section 2.01.
(b) Any Lender may request that any Advances made by it be evidenced by one or more promissory notes. The right of any In such event, the Borrower shall prepare, execute and deliver to obtain an Advance hereunder, as opposed such Lender one or more promissory notes payable to the right order of any other Borrowersuch Lender (or, shall be on if requested by such Lender, to such Lender and its assignees) and in a “first come, first served” basisform approved by the Administrative Agent.
Appears in 2 contracts
Sources: Credit Agreement (Progress Energy Inc), Credit Agreement (Progress Energy Inc)
The Advances. (a) Each Lender severally agrees, on and subject to the terms and conditions hereinafter set forth, to make Advances advances to the Borrowers Borrower (each, an “Advance”) from time to time on any Business Day during the period from the Effective Closing Date until the Commitment Termination Date in an aggregate amount up to but not to exceed exceeding at any one time outstanding the amount set forth under the heading “Commitment” opposite such Lender’s name on Schedule II hereto hereof I or, if such Lender has entered into any an Assignment and AssumptionAcceptance, set forth for such Lender in the Register maintained by the Agent pursuant to Section 8.07(c), (as such amount may be reduced pursuant to Section 2.04 (or increased pursuant to Section 2.19, such Lender’s “Commitment”) and, as to all Lenders, up to but not exceeding at any one time outstanding $200,000,000 (subject to Section 2.19). .
(b) Each Borrowing and each Conversion or Continuation thereof (i) shall be in an aggregate amount of not less than $1,000,000 5,000,000 or an integral multiple of $500,000 1,000,000 in excess thereof and (ii) shall consist of Advances made of the same Type (and, if such Advances are Eurodollar Rate Advances, having the same Interest Period) made, Continued or Converted on the same day by the Lenders ratably according to their respective Commitments. , except in each case as otherwise provided in Sections 2.08(e) and (f), as applicable.
(c) Within the limits of each Lender’s Commitment, the Borrowers Borrower may borrow under this Section 2.01from time to time borrow, prepay pursuant to Section 2.09 2.10 and reborrow under this Section 2.01. The right of any Borrower to obtain an Advance hereunder, as opposed to the right of any other Borrower, shall be on a “first come, first served” basis.
Appears in 2 contracts
Sources: Credit Agreement (Coca Cola Bottling Co Consolidated /De/), Credit Agreement (Coca Cola Bottling Co Consolidated /De/)
The Advances. (a) Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to the Borrowers Borrower from time to time on any Business Day during the period from the Effective Date until date hereof to and including the Termination Date Date, in an aggregate amount outstanding not to exceed at any time outstanding the amount set forth opposite such Lender’s 's name on Schedule II I hereto hereof or, if such Lender has entered into any Assignment and AssumptionAcceptance, 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 “'s "Commitment”"). Each Borrowing shall be in an aggregate amount of not less than $1,000,000 10,000,000 or an integral multiple of $500,000 1,000,000 in excess thereof and shall consist of Advances of the same Type made on the same day by the Lenders ratably according to their respective Commitments. Within Until the Termination Date, within the limits of each Lender’s 's Commitment, the Borrowers Borrower may borrow under this from time to time borrow, repay pursuant to Section 2.01, 2.05 or prepay pursuant to Section 2.09 2.10(b) and reborrow under this Section 2.01.
(b) Any Lender may request that any Advances made by it be evidenced by one or more promissory notes. The right of any In such event, the Borrower shall prepare, execute and deliver to obtain an Advance hereunder, as opposed such Lender one or more promissory notes payable to the right order of any other Borrowersuch Lender (or, shall be on if requested by such Lender, to such Lender and its assignees) and in a “first come, first served” basisform approved by the Administrative Agent.
Appears in 2 contracts
Sources: Credit Agreement (Progress Energy Inc), Credit Agreement (Florida Progress Corp)
The Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances in Dollars and/or Euros to the Borrowers Borrower or Borrowing Subsidiary from time to time on any Business Day during the period from the Effective Date date hereof until the Termination Date in an aggregate amount (based in respect of any Advances to be denominated in Euros by reference to the Equivalent thereof in Dollars determined on the date of delivery of the applicable Notice of Borrowing) not to exceed at any time outstanding the Dollar amount set forth opposite such Lender’s name on Schedule II I hereto hereof 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 of $1,000,000 not less than the Borrowing Minimum or an integral multiple of $500,000 the Borrowing Multiple in excess thereof (unless the aggregate amount of the unused Commitments is less than the Borrowing Minimum, 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 same currency and having the same Interest Period made on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Commitment, the Borrowers Borrower may borrow under this Section 2.01from time to time borrow, prepay pursuant to Section 2.09 and reborrow under this Section 2.01. The right of any Borrower to obtain an Advance hereunder, as opposed to the right of any other Borrower, shall be on a “first come, first served” basis.
Appears in 2 contracts
Sources: 364 Day Credit Agreement (Colgate Palmolive Co), 364 Day Credit Agreement (Colgate Palmolive Co)
The Advances. Each Lender severally agrees, on the terms and subject to the conditions hereinafter set forthforth in this agreement, to make one or more advances (such advances, together with Auction Bid Advances as provided in subsection (b) of this Section 2.01 to the Borrowers extent any Lender elects to make them, being the "Advances") to the Borrower from time to time on any Business Day during the period from the Effective Date until to but excluding the Termination Date in an aggregate amount not to exceed at any time outstanding the amount set forth opposite such Lender’s 's name on Schedule II hereto hereof 2.01 or, if such Lender has entered into any Assignment one or more Assignments and AssumptionAcceptances, set forth for such Lender in the Register maintained by the Agent pursuant to Section 8.07(c)9.04(d) (such amount, as such amount may it shall be reduced or terminated pursuant to this Section 2.01 or pursuant to Section 2.04 (2.04, being such Lender’s “'s "Commitment”"); provided, however, that the Facility Usage shall not exceed the Facility. Notwithstanding anything herein to the contrary, for purposes of determining the amount of a Lender's Commitment in respect of an Advance (other than an Auction Bid Advance) requested by the Borrower, the outstanding amount of any Auction Bid Advances made by such Lender shall be disregarded. Each Borrowing consisting of Adjusted Eurodollar Rate Advances shall have the same Interest Period and shall be in an aggregate amount not less than $1,000,000. Each Borrowing consisting of Base Rate Advances shall be in an aggregate amount not less than $1,000,000 or an integral multiple of $500,000 in excess thereof and shall consist of Advances made on the same day by the Lenders ratably according to their respective Commitments1,000,000. Within the limits of each Lender’s Commitmentthe foregoing, the Borrowers Borrower may borrow under this Section 2.012.01(a), repay pursuant to Section 2.05(a) or prepay pursuant to Section 2.09 2.09(a) and reborrow under this Section 2.01. The right of any Borrower to obtain an Advance hereunder, as opposed to the right of any other Borrower, shall be on a “first come, first served” basis2.01(a).
Appears in 1 contract
Sources: Credit Agreement (Kroger Co)
The Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to the Borrowers any Borrower from time to time on any Business Day during the period from the Effective Date until the Termination Date applicable to such Lender in an aggregate amount for all Borrowers not to exceed at any time outstanding (a) the amount set forth opposite such Lender’s name on Schedule II I hereto hereof oror (b) if such Lender has become a Lender hereunder pursuant to an Assumption Agreement or has increased its Commitment pursuant to Section 2.05(c), or if such Lender has entered into any Assignment and Assumption, the amount set forth for such Lender in the Register maintained by the Agent pursuant to Section 8.07(c9.07(c), in each case as such amount may be reduced pursuant to Section 2.04 2.05(a) or (b) (such Lender’s “Commitment”). Each Borrowing shall be in an aggregate amount of $1,000,000 5,000,000 or an integral multiple of $500,000 1,000,000 in excess thereof and shall consist of Advances of the same Type made on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Commitment, the Borrowers any Borrower may borrow under this Section 2.01, prepay pursuant to Section 2.09 2.10 and reborrow under this Section 2.01. The right of any Borrower to obtain an Advance hereunder, as opposed to the right of any other Borrower, shall be on a “first come, first served” basis.
Appears in 1 contract
The Advances. (a) Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances advances to the Borrowers each Borrower under this Section 2.01 (each, a “Revolving Credit Advance”) from time to time on any Business Day during the period from the Effective Date date hereof until the Commitment Termination Date in an aggregate amount not to exceed at any one time outstanding up to but not exceeding (in the aggregate for both Borrowers) the amount set forth opposite such Lender’s name on Schedule II hereto hereof I or, if such Lender has entered into any Assignment and AssumptionAcceptance, 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 or increased pursuant to Section 2.16 or 2.17 (such Lender’s “Commitment”). .
(b) Each Borrowing of Revolving Credit Advances shall be in an aggregate amount of $1,000,000 15,000,000 or an integral multiple of $500,000 1,000,000 in excess thereof and shall consist of Revolving Credit Advances of the same Type made on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Commitment, the Borrowers each Borrower may borrow under this Section 2.01, prepay pursuant to Section 2.09 and reborrow under this Section 2.01.
(c) The Administrative Agent shall maintain a written record of each Advance made by a Lender to a Borrower, and of each repayment of principal of, and payment of interest on, such Advance made by such Borrower for the amount of such Lender. The right Upon the prior written request of any Borrower to obtain an Advance hereunder, as opposed Lender delivered by such Lender to the right Administrative Agent and the Borrowers, each of any other Borrower, the Borrowers shall be on execute and deliver to such Lender a “first come, first served” basisRevolving Credit Note to the order of such Lender.
Appears in 1 contract
Sources: Revolving Credit Agreement (Ambac Financial Group Inc)
The Advances. (a) Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to the Borrowers Borrower from time to time on any Business Day during the period from the Effective Date until the Termination Date of such Lender in an aggregate amount not to exceed at any time outstanding the amount set forth opposite such Lender’s 's name on Schedule II hereto hereof or, if such Lender has entered into any Assignment and AssumptionAcceptance, 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 “'s "Commitment”"). ; provided that (i) in no event shall the aggregate principal amount of Advances from any Lender outstanding at any time exceed its Commitment then in effect and (ii) the Total Utilization of Commitments shall not exceed the aggregate Commitments then in effect.
(b) Each Borrowing shall be in an aggregate amount not less than $5,000,000 or a multiple of $1,000,000 or an integral multiple of $500,000 in excess thereof and shall consist of Advances of the same Type made on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s 's Commitment, the Borrowers Borrower may borrow under this Section 2.01from time to time borrow, prepay pursuant to Section 2.09 2.05(b) and reborrow under this Section 2.01. The right of any Borrower to obtain an Advance hereunder, as opposed to the right of any other Borrower, shall be on a “first come, first served” basis.
Appears in 1 contract
The Advances. (a) Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to the Borrowers Borrower from time to time on any Business Day during the period from the Effective Date until date hereof to and including the day prior to the Commitment Termination Date Date, in an aggregate amount outstanding not to exceed at any time outstanding the amount set forth opposite such Lender’s name on Schedule II I hereto hereof or, if such Lender has entered into any Assignment and AssumptionAcceptance, 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 of not less than $1,000,000 10,000,000 or an integral multiple of $500,000 1,000,000 in excess thereof and shall consist of Advances of the same Type made on the same day by the Lenders ratably according to their respective Commitments. Within Until the day prior to the Commitment Termination Date, within the limits of each Lender’s Commitment, the Borrowers Borrower may borrow under this from time to time borrow, repay pursuant to Section 2.01, 2.05 or prepay pursuant to Section 2.09 2.10 and reborrow under this Section 2.01. The right In no event shall the Borrower be entitled to request or receive any Advance that would cause the aggregate principal amount of outstanding Advances to exceed the Commitments.
(b) Any Lender may request that any Advances made by it be evidenced by one or more promissory notes. In such event, the Borrower shall prepare, execute and deliver to obtain an Advance hereunder, as opposed such Lender one or more promissory notes payable to the right order of any other Borrowersuch Lender (or, shall be on if requested by such Lender, to such Lender and its assignees) and in a “first come, first served” basisform approved by the Administrative Agent.
Appears in 1 contract
The Advances. (a) Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to the Borrowers each Borrower from time to time on any Business Day during the period from the Effective Date until the Commitment Termination Date in an aggregate amount amount, for both Borrowers, not to exceed at any time outstanding the amount set forth opposite such Lender’s name on Schedule II hereto the signature pages hereof or, if such Lender has entered into any Assignment and AssumptionAcceptance, 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 or increased pursuant to Section 2.16 or 2.17 (such Lender’s “Commitment”). Each Borrowing shall be in an aggregate amount of $1,000,000 or an integral multiple of $500,000 1,000,000 in excess thereof and shall consist of Advances of the same Type made on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Commitment, the Borrowers each Borrower may borrow under this Section 2.01, prepay pursuant to Section 2.09 and reborrow under this Section 2.01.
(b) The Administrative Agent shall maintain a written record of each Advance made by a Lender to a Borrower, and of each repayment of principal of, and payment of interest on, such Advance made by such Borrower for the amount of such Lender. The right Upon the prior written request of any Borrower to obtain an Advance hereunder, as opposed Lender delivered by such Lender to the right Administrative Agent and the Borrowers, each of any other Borrower, the Borrowers shall be on execute and deliver to such Lender a “first come, first served” basisNote to the order of such Lender.
Appears in 1 contract
Sources: Revolving Credit Agreement (Ambac Financial Group Inc)
The Advances. (a) Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to the Borrowers Borrower from time to time on any Business Day during the period from the Effective Date until date hereof to and including the day prior to the Termination Date Date, in an aggregate amount outstanding not to exceed at any time outstanding the amount set forth opposite such Lender’s name on Schedule II I hereto hereof or, if such Lender has entered into any Assignment and AssumptionAcceptance, 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”), and each Issuing Bank agrees to issue Letters of Credit for the account of the Borrower from time to time on any Business Day during the period from the date hereof until the tenth Business Day prior to the Termination Date in an aggregate amount not to exceed the amount of such Issuing Bank’s LC Commitment. Each Borrowing shall be in an aggregate amount of not less than $1,000,000 10,000,000 or an integral multiple of $500,000 1,000,000 in excess thereof and shall consist of Advances of the same Type made on the same day by the Lenders ratably according to their respective Commitments. Within Until the day prior to the Termination Date, within the limits of each Lender’s Commitment, the Borrowers Borrower may borrow under this from time to time borrow, repay pursuant to Section 2.01, 2.05 or prepay pursuant to Section 2.09 2.10(b) and reborrow under this Section Section
2.01. The right In no event shall the Borrower be entitled to request or receive any Extension of any Credit that would cause the aggregate Outstanding Credits to exceed the Commitments.
(b) Any Lender may request that the Advances made by it be evidenced by one or more promissory notes. In such event, the Borrower shall prepare, execute and deliver to obtain an Advance hereunder, as opposed such Lender one or more promissory notes payable to the right order of any other Borrowersuch Lender (or, shall be on if requested by such Lender, to such Lender and its assignees) and in a “first come, first served” basisform approved by the Administrative Agent.
Appears in 1 contract
The Advances. (a) Each Lender severally agrees, on and subject to the terms and conditions hereinafter set forth, to make Advances advances to the Borrowers Borrower (each, an “Advance”) from time to time on any Business Day during the period from the Effective Closing Date until the Commitment Termination Date in an aggregate amount up to but not to exceed exceeding at any one time outstanding the amount set forth under the heading “Commitment” opposite such Lender’s name on Schedule II hereto hereof I or, if such Lender has entered into any an Assignment and AssumptionAcceptance, set forth for such Lender in the Register maintained by the Agent pursuant to Section 8.07(c), (as such amount may be reduced pursuant to Section 2.04 (or increased pursuant to Section 2.19, such Lender’s “Commitment”) and, as to all Lenders, up to but not exceeding at any one time outstanding $100,000,000 (subject to Section 2.19). .
(b) Each Borrowing and each Conversion or Continuation thereof (i) shall be in an aggregate amount of not less than $1,000,000 5,000,000 or an integral multiple of $500,000 1,000,000 in excess thereof and (ii) shall consist of Advances made of the same Type (and, if such Advances are Eurodollar Rate Advances, having the same Interest Period) made, Continued or Converted on the same day by the Lenders ratably according to their respective Commitments. , except in each case as otherwise provided in Sections 2.08(e) and (f), as applicable.
(c) Within the limits of each Lender’s Commitment, the Borrowers Borrower may borrow under this Section 2.01from time to time borrow, prepay pursuant to Section 2.09 2.10 and reborrow under this Section 2.01. The right of any Borrower to obtain an Advance hereunder, as opposed to the right of any other Borrower, shall be on a “first come, first served” basis.
Appears in 1 contract
Sources: Credit Agreement (Coca Cola Bottling Co Consolidated /De/)
The Advances. Each Lender severally agrees, on the ------------ terms and conditions hereinafter set forth, to make Advances to the Borrowers Borrower from time to time on any Business Day during the period from the Effective Date until the Termination Date in an aggregate amount (based in respect of any 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 Dollar amount set forth opposite such Lender’s 's name on Schedule II hereto the signature pages hereof or, if such Lender has become a Lender hereunder pursuant to an Assumption Agreement, the Dollar amount set forth as the Commitment of such Lender in such Assumption Agreement or, if such Lender has entered into any an Assignment and AssumptionAcceptance, the Dollar amount 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 or increased pursuant to Section 2.19 (such Lender’s “'s "Commitment”"). Each Borrowing shall be in an aggregate amount of $1,000,000 5,000,000 or an integral multiple of $500,000 1,000,000 in excess thereof (or the Equivalent thereof in any Committed Currency determined on the date of delivery of the applicable Notice of Borrowing) and shall consist of Advances of the same Type made on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s 's Commitment, the Borrowers Borrower from time to time may borrow under this Section 2.01, prepay pursuant to Section 2.09 2.10 and reborrow under this Section 2.01. The right of any Borrower to obtain an Advance hereunder, as opposed to the right of any other Borrower, shall be on a “first come, first served” basis.
Appears in 1 contract
Sources: Credit Agreement (Walt Disney Co/)
The Advances. (a) Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to the Borrowers Borrower from time to time on any Business Day during the period from the Effective Date until date hereof to and including the day prior to the Commitment Termination Date Date, in an aggregate amount outstanding not to exceed at any time outstanding the amount set forth opposite such Lender’s name on Schedule II I hereto hereof or, if such Lender has entered into any Assignment and AssumptionAcceptance, 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 of not less than $1,000,000 10,000,000 or an integral multiple of $500,000 1,000,000 in excess thereof and shall consist of Advances of the same Type made on the same day by the Lenders ratably according to their respective Commitments. Within Until the day prior to the Commitment Termination Date, within the limits of each Lender’s Commitment, the Borrowers Borrower may borrow under this from time to time borrow, repay pursuant to Section 2.01, 2.05 or prepay pursuant to Section 2.09 2.10(b) and reborrow under this Section 2.01. The right In no event shall the Borrower be entitled to request or receive any Advance that would cause the aggregate principal amount of outstanding Advances to exceed the Commitments.
(b) Any Lender may request that any Advances made by it be evidenced by one or more promissory notes. In such event, the Borrower shall prepare, execute and deliver to obtain an Advance hereunder, as opposed such Lender one or more promissory notes payable to the right order of any other Borrowersuch Lender (or, shall be on if requested by such Lender, to such Lender and its assignees) and in a “first come, first served” basisform approved by the Administrative Agent.
Appears in 1 contract
The Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to the Borrowers any Borrower from time to time on any Business Day during the period from the Effective Date until the Termination Date applicable to such Lender in an aggregate amount for all Borrowers not to exceed at any time outstanding (a) the amount set forth opposite such Lender▇▇▇▇▇▇’s name on Schedule II I hereto hereof oror (b) if such Lender has become a Lender hereunder pursuant to an Assumption Agreement or has increased its Commitment pursuant to Section 2.05(c), or if such Lender has entered into any Assignment and Assumption, the amount set forth for such Lender in the Register maintained by the Agent pursuant to Section 8.07(c9.07(c), in each case as such amount may be reduced pursuant to Section 2.04 2.05(a) or (b) (such Lender’s “Commitment”). Each Borrowing shall be in an aggregate amount of $1,000,000 5,000,000 or an integral multiple of $500,000 1,000,000 in excess thereof and shall consist of Advances of the same Type made on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Commitment, the Borrowers any Borrower may borrow under this Section 2.01, prepay pursuant to Section 2.09 2.10 and reborrow under this Section 2.01. The right of any Borrower to obtain an Advance hereunder, as opposed to the right of any other Borrower, shall be on a “first come, first served” basis.
Appears in 1 contract
The Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to the Borrowers Borrower from time to time on any Business Day during the period from the Effective Date date hereof until the Termination Date in an aggregate amount not to exceed at any time outstanding the amount set forth opposite such Lender’s 's name on Schedule II hereto the signature pages hereof or, if such Lender has entered into any Assignment and AssumptionAcceptance, 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 “'s "Commitment”"), provided that in no event shall (a) the Aggregate Financing Amount exceed the aggregate amount of the Commitments as in effect from time to time or (b) the Aggregate Financing Amount exceed the aggregate amount of the Borrowing Base as in effect from time to time prior to the Borrowing Base Release Date. Each Borrowing shall be in an aggregate amount of not less than $1,000,000 5,000,000 or an integral multiple of $500,000 1,000,000 in excess thereof and shall consist of Advances of the same Type made on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s 's Commitment, the Borrowers Borrower may borrow under this Section 2.01borrow, prepay pursuant to Section 2.09 2.09(a) and reborrow under this Section 2.01. The right of any Borrower to obtain an Advance hereunder, as opposed to the right of any other Borrower, shall be on a “first come, first served” basis.2.01A.
Appears in 1 contract
The Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances in U.S. dollars to the Borrowers any Borrower from time to time on any Business Day during the period from the Effective Date until the Termination Date applicable to such Lender in an aggregate amount for all Borrowers not to exceed at any time outstanding (a) the amount set forth opposite such Lender▇▇▇▇▇▇’s name on Schedule II I hereto hereof oror (b) if such Lender has become a Lender hereunder pursuant to an Assumption Agreement or has increased its Commitment pursuant to Section 2.05(c), or if such Lender has entered into any Assignment and Assumption, the amount set forth for such Lender in the Register maintained by the Agent pursuant to Section 8.07(c9.07(c), in each case as such amount may be reduced pursuant to Section 2.04 2.05(a) or (b) (such Lender’s “Commitment”). Each Borrowing shall be in an aggregate amount of $1,000,000 5,000,000 or an integral multiple of $500,000 1,000,000 in excess thereof and shall consist of Advances of the same Type made on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Commitment, the Borrowers any Borrower may borrow under this Section 2.01, prepay pursuant to Section 2.09 2.10 and reborrow under this Section 2.01. The right of any Borrower to obtain an Advance hereunder, as opposed to the right of any other Borrower, shall be on a “first come, first served” basis.
Appears in 1 contract
The Advances. (a) Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to the Borrowers Borrower from time to time on any Business Day during the period from the Effective Date until the Commitment Termination Date in an aggregate amount not to exceed at any time outstanding the amount set forth opposite such Lender’s 's name on Schedule II hereto hereof or, if such Lender has entered into any Assignment and AssumptionAcceptance, 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 “'s "Commitment”"). ; provided that (i) in no event shall the aggregate principal amount of Advances from any Lender outstanding at any time exceed its Commitment then in effect and (ii) the Total Utilization of Commitments shall not exceed the aggregate Commitments then in effect.
(b) Each Borrowing shall be in an aggregate amount not less than $5,000,000 or a multiple of $1,000,000 or an integral multiple of $500,000 in excess thereof and shall consist of Advances of the same Type made on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s 's Commitment, the Borrowers Borrower may borrow under this Section 2.01from time to time borrow, prepay pursuant to Section 2.09 2.05(b) and reborrow under this Section 2.01. The right of any Borrower to obtain an Advance hereunder, as opposed to the right of any other Borrower, shall be on a “first come, first served” basis.
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Sources: Revolving Credit Agreement (Hormel Foods Corp /De/)