Common use of The Contract Advances Clause in Contracts

The Contract Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Contract Advances to the Borrower from time to time on any Business Day during the period from the date hereof until (but excluding) the Termination Date in an aggregate amount not to exceed at any time outstanding the amount set forth opposite such Lender's name on the signature pages hereof or, if such Lender has entered into any Assignment and Acceptance or Additional Lender Supplement, 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 2.05 or 2.17 (such Lender's "Commitment"); provided, that the aggregate amount of the Commitments of the Lenders shall be deemed used from time to time to the extent of the aggregate amount of the Auction Advances then outstanding, and such deemed use of the aggregate amount of the Commitments shall be applied to the Lenders ratably according to their respective Commitments (such deemed use of the aggregate amount of the Commitments being an "Auction Reduction"). Each Contract Borrowing shall consist of Contract Advances of the same Type made or Converted on the same day by the Lenders ratably according to their respective Commitments. Each Contract Borrowing comprising Base Rate Advances shall be in an aggregate amount not less than $5,000,000, and each Contract Borrowing comprising Adjusted CD Rate Advances or Eurodollar Rate Advances shall be in an aggregate amount not less than $10,000,000. Within the limits of each Lender's Commitment, the Borrower may from time to time borrow, prepay pursuant to Section 2.11 and reborrow under this Section 2.01.

Appears in 2 contracts

Samples: Credit Agreement (Peco Energy Co), Revolving Credit Agreement (Peco Energy Co)

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The Contract Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Contract Advances to the either Borrower from time to time on any Business Day during the period from the date hereof until (but excluding) the Termination Date in an aggregate amount (with respect to both of the Borrowers, collectively) not to exceed at any time outstanding the amount set forth opposite such Lender's name on the signature pages hereof or, if such Lender has entered into any Assignment and Acceptance or Additional Lender SupplementAcceptance, set forth for such Lender in the Register maintained by the Administrative Agent pursuant to Section 8.07(c9.07(c), as such amount may be reduced pursuant to Section 2.05 or 2.17 (such Lender's "Commitment"); provided, provided that the aggregate amount of the Commitments of the Lenders shall be deemed used from time to time to the extent of the aggregate amount of the Auction Advances then outstanding, outstanding and such deemed use of the aggregate amount of the Commitments shall be applied to the Lenders ratably according to their respective Commitments (such deemed use of the aggregate amount of the Commitments being an "Auction Reduction"). Each Contract Borrowing shall be in an amount not less than $2,500,000 or an integral multiple of $1,000,000 in excess thereof and shall consist of Contract Advances of the same Type and, in the case of Eurodollar Rate Advances or Adjusted CD Rate Advances, having the same Interest Period made or Converted on the same day by the Lenders ratably according to their respective Commitments. Each Contract Borrowing comprising Base Rate Advances shall be in an aggregate amount not less than $5,000,000, and each Contract Borrowing comprising Adjusted CD Rate Advances or Eurodollar Rate Advances shall be in an aggregate amount not less than $10,000,000. Within the limits of each Lender's Commitment, the Borrower Borrowers may from time to time borrow, prepay pursuant to Section 2.11 and reborrow under this Section 2.01; provided, however, that at no time may the principal amount outstanding hereunder exceed the aggregate amount of the Commitments.

Appears in 1 contract

Samples: Credit Agreement (System Energy Resources Inc)

The Contract Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Contract Advances to the Borrower from time to time on any Business Day during the period from the date hereof until (but excluding) the Termination Date in an aggregate amount not to exceed at any time outstanding the amount set forth opposite such Lender's name on the signature pages hereof or, if such Lender has entered into any Assignment and Acceptance or Additional Lender SupplementAcceptance, 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 2.05 or 2.17 2.06 (such Lender's "Commitment"); provided, provided that the aggregate amount of the Commitments of the Lenders shall be deemed used from time to time to the extent of the aggregate amount of the Auction Advances then outstanding and the aggregate amount of the L/C Obligations then outstanding, and such deemed use of the aggregate amount of the Commitments shall be applied to the Lenders ratably according to their respective Commitments (such deemed use of the aggregate amount of the Commitments being an "Auction Reduction")Commitments. Each Contract 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 Contract Advances of the same Type and having the same Interest Period made or Converted on the same day by the Lenders ratably according to their respective Commitments. Each Contract Borrowing comprising Base Rate Advances shall be in an aggregate amount not less than $5,000,000, and each Contract Borrowing comprising Adjusted CD Rate Advances or Eurodollar Rate Advances shall be in an aggregate amount not less than $10,000,000. Within the limits of each Lender's Commitment, the Borrower may from time to time borrow, prepay pursuant to Section 2.11 2.12 and reborrow under this Section 2.01. Subject to the restriction set forth in Section 2.02(e), more than one Contract Borrowing may be made on any Business Day.

Appears in 1 contract

Samples: Louisville Gas & Electric Co /Ky/

The Contract Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Contract Advances to the Borrower from time to time on any Business Day during the period from the date hereof until (but excluding) the Termination Date in an aggregate amount not to exceed at any time outstanding the amount set forth opposite such Lender's name on the signature pages hereof or, if such Lender has entered into any Assignment and Acceptance or Additional Lender SupplementAcceptance, 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 2.05 or 2.17 (such Lender's "Commitment"); provided, provided that the aggregate amount of the Commitments of the Lenders shall be deemed used from time to time to the extent of the aggregate amount of the Auction Advances then outstanding, and such deemed use of the aggregate amount of the Commitments shall be applied to the Lenders ratably according to their respective Commitments (such deemed use of the aggregate amount of the Commitments being an "Auction Reduction")Commitments. Each Contract 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 Contract Advances of the same Type and having the same Interest Period made or Converted on the same day by the Lenders ratably according to their respective Commitments. Each Contract Borrowing comprising Base Rate Advances shall be in an aggregate amount not less than $5,000,000, and each Contract Borrowing comprising Adjusted CD Rate Advances or Eurodollar Rate Advances shall be in an aggregate amount not less than $10,000,000. Within the limits of each Lender's Commitment, the Borrower may from time to time borrow, prepay pursuant to Section 2.11 and reborrow under this Section 2.01. Subject to the restriction set forth in Section 2.02(e), more than one Contract Borrowing may be made on any Business Day.

Appears in 1 contract

Samples: Louisville Gas & Electric Co /Ky/

The Contract Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Contract Advances to the Borrower from time to time on any Business Day during the period from the date hereof until (but excluding) the Termination Date in an aggregate amount not to exceed at any time outstanding the amount set forth opposite such Lender's name on the signature pages hereof or, if such Lender has entered into any Assignment and Acceptance or Additional Lender SupplementAcceptance, set forth for such Lender in the Register maintained by the Administrative Agent pursuant to Section 8.07(c)8.07c, as such amount may be reduced pursuant to Section 2.05 or 2.17 (such Lender's "Commitment"Commitment ); provided, provided that the aggregate amount of the Commitments of the Lenders shall be deemed used from time to time to the extent of the aggregate amount of the Auction Advances then outstanding, outstanding and such deemed use of the aggregate amount of the Commitments shall be applied to the Lenders ratably according to their respective Commitments (such deemed use of the aggregate amount of the Commitments being an "Auction Reduction"Reduction ). Each Contract Borrowing shall be in an amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof and shall consist of Contract Advances of the same Type and, in the case of Eurodollar Rate Advances or Adjusted CD Rate Advances, having the same Interest Period made or Converted on the same day by the Lenders ratably according to their respective Commitments. Each Contract Borrowing comprising Base Rate Advances shall be in an aggregate amount not less than $5,000,000, and each Contract Borrowing comprising Adjusted CD Rate Advances or Eurodollar Rate Advances shall be in an aggregate amount not less than $10,000,000. Within the limits of each Lender's Commitment, the Borrower may from time to time borrow, prepay pursuant to Section 2.11 and reborrow under this Section 2.01; provided, however, that at no time may the principal amount outstanding hereunder exceed the aggregate amount of the Commitments. SECTION 2.02.

Appears in 1 contract

Samples: Credit Agreement (Entergy Corp /De/)

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The Contract Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Contract Advances to the Borrower from time to time on any Business Day during the period from the date hereof until (but excluding) the Termination Date in an aggregate amount not to exceed at any time outstanding the amount set forth opposite such Lender's Lender s name on the signature pages hereof Schedule III hereto or, if such Lender has entered into any Assignment and Acceptance or Additional Lender SupplementAcceptance, 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 2.05 or 2.17 (such Lender's "Commitment"Lender s Commitment ); provided, provided that the aggregate amount of the Commitments of the Lenders shall be deemed used from time to time to the extent of the aggregate amount of the Auction Advances then outstanding, outstanding and such deemed use of the aggregate amount of the Commitments shall be applied to the Lenders ratably according to their respective Commitments (such deemed use of the aggregate amount of the Commitments being an "Auction Reduction"Reduction ). Each Contract Borrowing shall be in an amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof and shall consist of Contract Advances of the same Type and, in the case of Eurodollar Rate Advances or Adjusted CD Rate Advances, having the same Interest Period made or Converted on the same day by the Lenders ratably according to their respective Commitments. Each Contract Borrowing comprising Base Rate Advances shall be in an aggregate amount not less than $5,000,000, and each Contract Borrowing comprising Adjusted CD Rate Advances or Eurodollar Rate Advances shall be in an aggregate amount not less than $10,000,000. Within the limits of each Lender's Lender s Commitment, the Borrower may from time to time borrow, prepay pursuant to Section 2.11 and reborrow under this Section 2.01; provided, however, that at no time may the principal amount outstanding hereunder exceed the aggregate amount of the Commitments.

Appears in 1 contract

Samples: Credit Agreement (System Energy Resources Inc)

The Contract Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Contract Advances to the Borrower from time to time on any Business Day during the period from the date hereof until (but excluding) the Termination Date in an aggregate amount not to exceed at any time outstanding the amount set forth opposite such Lender's name on the signature pages hereof Schedule II hereto or, if such Lender has entered into any Assignment and Acceptance or Additional Lender SupplementAcceptance, 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 2.05 or Section 2.17 (such Lender's "Commitment"); provided, provided that the aggregate amount of the Commitments of the Lenders shall be deemed used from time to time to the extent of the aggregate amount of the Auction Advances then outstanding, outstanding and such deemed use of the aggregate amount of the Commitments shall be applied to the Lenders ratably according to their respective Commitments (such deemed use of the aggregate amount of the Commitments being an "Auction Reduction"). Each Contract Borrowing shall be in an amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof and shall consist of Contract Advances of the same Type and, in the case of Eurodollar Rate Advances or, having the same Interest Period made or Converted on the same day by the Lenders ratably according to their respective Commitments. Each Contract Borrowing comprising Base Rate Advances shall be in an aggregate amount not less than $5,000,000, and each Contract Borrowing comprising Adjusted CD Rate Advances or Eurodollar Rate Advances shall be in an aggregate amount not less than $10,000,000. Within the limits of each Lender's Commitment, the Borrower may from time to time borrow, prepay pursuant to Section 2.11 and reborrow under this Section 2.01; provided, however, that at no time may the principal amount outstanding hereunder exceed the aggregate amount of the Commitments.

Appears in 1 contract

Samples: Credit Agreement (System Energy Resources Inc)

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