The Revolving Credit Loan. Subject to the terms and conditions set forth herein, each (i) Revolving Credit Lender that holds a Dollar Revolving Credit Commitment severally agrees to make revolving loans to the Borrower from time to time during the period from the Effective Date to the Revolving Credit Termination Date in Dollars and (ii) Revolving Credit Lender that holds an Alternative Currency Revolving Credit Commitment severally agrees to make revolving loans to the Borrower from time to time during the period from the Effective Date to the Revolving Credit Termination Date in Dollars or in any Alternative Currency (each such loan described in clauses (i) and (ii), a “Revolving Credit Loan”), in each case, as requested by the Borrower in an aggregate Outstanding Amount that will not result in (x) the Outstanding Amount of such Revolving Credit Lender’s Revolving Credit Exposure exceeding such Revolving Credit Lender’s Revolving Credit Commitment, (y) the Outstanding Amount of such Revolving Credit Lender’s Revolving Credit Exposure with respect to Loans and Letters of Credit denominated in any Alternative Currency exceeding such Revolving Credit Lender’s Alternative Currency Revolving Credit Commitment, or (z) the aggregate Outstanding Amount of the Revolving Credit Exposure with respect to Loans and Letters of Credit denominated in Alternative Currencies exceeding the Alternative Currency Sublimit. Subject to the terms and conditions of this Agreement, during the period from the Effective Date to but excluding the Revolving Credit Termination Date, the Borrower may borrow, repay and reborrow Revolving Credit Loans hereunder. The (A) Outstanding Amount of the Aggregate Credit Exposure shall not at any time exceed the lesser of (i) the Facility Amount and (ii) the aggregate Commitments, and (B) the aggregate Outstanding Amount of the Revolving Credit Exposures of the Revolving Credit Lenders shall not at any time exceed the lesser of (i) the Revolving Credit Facility Amount and (ii) the aggregate Revolving Credit Commitments. Each borrowing of Revolving Credit Loans shall be made in the same Currency and Type and made by the Revolving Lenders pro rata in accordance with each Revolving Credit Lender’s Dollar Revolving Commitment Percentage or Alternative Currency Revolving Commitment Percentage, as applicable.
The Revolving Credit Loan. On the date hereof, Lender agrees to extend the Revolving Credit Loan to Borrower in accordance with the terms of, and subject to the conditions set forth in, this Agreement, the Revolving Credit Note and the other Transaction Documents. All Borrowings under the Revolving Credit Loan shall, subject to the Default Rate being applicable, bear interest as a LIBO Rate Tranche. For avoidance of doubt, the Revolving Credit Loan is a revolving credit facility and Borrower may repay and re-borrow principal amounts under the Revolving Credit Loan. The unpaid principal balance plus all accrued but unpaid interest on the Revolving Credit Loan shall be due and payable on the Revolving 12 Credit Loan Maturity Date, or such earlier date on which such amount shall become due and payable on account of acceleration by Lender in accordance with the terms of the Revolving Credit Note and this Agreement. 2.1.2
The Revolving Credit Loan. 2.1. General Terms of the Revolving Credit Loan..................11 2.2. Disbursements of the Revolving Credit Loan..................12 2.3. The Revolving Credit Note...................................12 2.4. Adjustments to Revolving Credit Loan Amount.................12 2.5. Margin Requirements under the Revolving Credit Loan.........12 2.6. Termination of the Revolving Credit Loan....................13 2.7. Fees........................................................13 2.8. Conditional Consent to Inclusion of Assets of any Approved Subsidiary.................................13 2.9.
The Revolving Credit Loan. The first sentence of Section 2.1 of the Credit Agreement is hereby amended and restated in its entirety to read as follows: “Subject to the terms and conditions of this Agreement, each Lender agrees to extend to the Borrower from the date hereof through the Termination Date, a revolving line of credit which shall not exceed (i) at all times during the Adjustment Period, $30,000,000, and (ii) at all other times, the Total Revolving Credit Commitment, in either case less (a) outstanding Advances (including Swingline Advances), (b) Letter of Credit Obligations, and (c) the Acceptance Exposure.
The Revolving Credit Loan. (a) Subject to the conditions and pursuant to the terms of the Loan Documents and in reliance upon the representations, warranties, and covenants set forth in the Loan Documents, in the aggregate for all Lenders up to the Maximum Total Amount and on any Business Day occurring prior to the Maturity Date, each Lender severally agrees to make Advances (relative to such Lender) to the Borrowers under the Revolving Credit Loan equal to such Lender's Pro Rata Share of the aggregate amount of the borrowing of total Advances requested by the Borrowers to be made on such day (that are not requested by the Borrowers to be made under the Swing Line Loan).
The Revolving Credit Loan. 3.1 Bank hereby establishes a line of credit (hereinafter the "Revolving Credit") in Borrowers' favor in the amount of Borrowers' Availability, but in no event to exceed Eighteen Million Dollars ($18,000,000.00). All advances made by Bank under the within Agreement, and all of Borrowers' other Liabilities to Bank under or pursuant to the within Agreement, shall, in the absence of an earlier Event of Default, be due and payable in full on April 30, 1999 (the "Maturity Date"), all as provided in the Note of Borrowers.
The Revolving Credit Loan. (a) The Bank agrees, upon the terms and subject to the conditions hereof, to make one or more Advances to the Borrowers at any time and from time to time upon receipt of an Advance Request, from the Closing Date to the Maturity Date, in an aggregate principal amount at any one time outstanding not to exceed the Commitment; provided that the amount of any Advance shall not exceed the Advance Amount thereof.
The Revolving Credit Loan. Subject to the terms of this Agreement, Bank has agreed to make available to Borrower for Borrower's use from time to time during the term of this Agreement, upon the written or oral request of Borrower, a line of credit ("Revolving Credit Loan") at any time equal to the lesser of (a) $5,000,000.00 ("Commitment") or (b) the Borrowing Base; provided, however, Bank shall retain as a non-disbursed reserve from the Revolving Credit Loan an amount equal to the Letter of Credit Obligations (the "Letter of Credit Reserve"). Bank agrees to make advances under the Revolving Credit Loan automatically, without any request by Borrower, upon the presentment of items drawn against the Borrower's checking account, provided that there is sufficient Availability to cover such advances. Borrower shall submit a completed Collateral Report to Bank at least once per week so long as any Obligations are outstanding. It is further provided that Borrower releases the Bank from any liability or obligation for and agrees to indemnify and hold the Bank harmless from and against any loss, cost, damage or expense (including the Bank's reasonable attorneys' fees) incurred or suffered as a result of the payment by the Bank of any item drawn against the Borrower's checking account that is subsequently determined to have been improperly paid for any reason, except for the gross negligence, willful misconduct or bad faith of the Bank. Bank also reserves the right, in its sole discretion, upon three (3) Business Days prior written notice, to discontinue automatic payment of items presented to the Bank, and to require written or oral advance requests to be made by the Borrower.
The Revolving Credit Loan. Each Bank severally agrees, on -------------------------- the terms and conditions hereinafter set forth, to make Advances on a revolving credit basis to the Borrower from time to time on any Business Day during the period on and after the Effective Date hereof until the Revolving Credit Termination Date, in an aggregate amount not to exceed at any time outstanding an amount equal to such Bank's Commitment. 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 made on the same day by the Banks ratably according to their respective Commitments. Within the limits set forth herein, until, and including, the Revolving Credit Termination Date, the Borrower may borrow, prepay pursuant to Sections 3.02 and 3.03 and reborrow under this Section 2.01. The principal amount outstanding of all Advances shall mature and, together with accrued and unpaid interest thereon, shall be due and payable on the Revolving Credit Termination Date.
The Revolving Credit Loan. Lender hereby establishes in favor of the Company a revolving credit facility as described below (the “Revolving Credit Facility”).
