The Commitment and Loans Clause Samples

The Commitment and Loans. 4 2.1 The Commitment............................................. 4 2.2
View SourceView Similar (4)
The Commitment and Loans. 26 Section 2.01Term Loan Commitments. .................................................................................... 26 Section 2.02 Revolving Credit Commitment. .......................................................................... 27 Section 2.04 Procedures for Revolving Credit Borrowing. ...................................................... 27 Section 2.04 Termination or Reduction of Revolving Credit Commitment. .........................
View Source
The Commitment and Loans. 2.1. Subject to the terms and conditions set forth herein, the Lender agrees to make loans to the Borrower in Dollars on the dates specified in Section 2.2 in an aggregate principal amount not to exceed the Commitment. The amount of the Commitment on the Closing Date is the Dollar Equivalent on the Closing Date of €500 million (i.e. $607,615,000). If the Term Loan Commitments under the Credit Agreement are increased pursuant to Section 2.22 thereof prior to the Restructuring Date (the amount of any such increase, the “Term Commitment Increase”), the Commitment under this Agreement will be automatically increased by the amount of the Term Commitment Increase. 2.2. On each date on which the Lender borrows a Term Loan under the Credit Agreement (other than with regard to Term Loans made after the Restructuring Date pursuant to Section 2.22 of the Credit Agreement), the Lender shall make, and the Borrower shall borrow, a Loan in the principal amount of the net cash proceeds of such Term Loan. The amount of the Loan made on the Closing Date shall be the Dollar Equivalent on the Closing Date of €50,000,000 (i.e. $60,761,500).
View Source
The Commitment and Loans 
View SourceView Similar (57)

Related to The Commitment and Loans

  • The Commitments (a) Subject to and upon the terms and conditions set forth herein, each Lender with an Initial Term Loan Commitment severally agrees to make an Initial Term Loan to Borrower in Dollars, which Initial Term Loans (i) shall be incurred by Borrower pursuant to a single drawing on the Closing Date, (ii) shall, except as hereinafter provided, at the option of Borrower, be incurred and maintained as, and/or converted into, one or more Borrowings of Base Rate Loans or LIBO Rate Loans; provided that all Initial Term Loans comprising the same Borrowing shall at all times be of the same Type, and (iii) shall be made by each such Lender in that aggregate principal amount which does not exceed the Initial Term Loan Commitment of such Lender on the Closing Date (before giving effect to the termination thereof pursuant to Section 4.02(a)). Once repaid, Initial Term Loans may not be reborrowed. (b) Subject to and upon the terms and conditions set forth herein and relying upon the representations and warranties herein set forth, each Revolving Lender with a Closing Date Revolving Commitment agrees, severally and not jointly, to make revolving credit loans denominated in Dollars or in one or more Alternative Currencies (the “Initial Revolving Loans”) to Borrower, at any time and from time to time on and after the Closing Date until the earlier of one Business Day prior to the Initial Maturity Date for Initial Revolving Loans and the termination of the Closing Date Revolving Commitment of such Revolving Lender in accordance with the terms hereof, in an aggregate principal amount at any time outstanding that will not result in such ▇▇▇▇▇▇’s Revolving Exposure with respect to Initial Revolving Loans exceeding such ▇▇▇▇▇▇’s Closing Date Revolving Commitment. Within the limits set forth above and subject to the terms, conditions and limitations set forth herein, Borrower may borrow, pay or prepay and reborrow the Initial Revolving Loans. (c) Subject to and upon the terms and conditions set forth herein, each Lender with an Incremental Term Loan Commitment from time to time severally agrees to make Incremental Term Loans to Borrower, which Incremental Term Loans (i) shall be incurred pursuant to a single drawing on the applicable Incremental Term Loan Borrowing Date, (ii) [reserved], (iii) shall, except as hereinafter provided, at the option of Borrower, be incurred and maintained as, and/or converted into one or more Borrowings of Base Rate Loans or LIBO Rate Loans; provided that all Incremental Term Loans of a given Tranche made as part of the same Borrowing shall at all times consist of Incremental Term Loans of the same Type, and (iv) shall not exceed for any such Incremental Term Loan Lender at any time of any incurrence thereof, the Incremental Term Loan Commitment of such Incremental Term Loan Lender for such Tranche (before giving effect to the termination thereof on such date pursuant to Section 4.02(b)). Once repaid, Incremental Term Loans may not be reborrowed. (d) Each Lender may, at its option, make any Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan; provided that any exercise of such option shall not (i) affect in any manner the obligation of Borrower to repay such Loan in accordance with the terms of this Agreement or (ii) excuse or relieve any Lender from its Commitment to make any such Loan to the extent not so made by such branch or Affiliate.