Common use of The Revolving Credit Loans Clause in Contracts

The Revolving Credit Loans. (a) The Lenders agree, severally, but not jointly, on the date of this Agreement, on the terms and conditions of this Agreement and in reliance upon the representations and warranties of the Borrower and the Guarantors set forth in this Agreement, to lend to the Borrower prior to the Maturity Date such amounts as the Borrower may request from time to time (individually, a "Revolving Credit Loan" or collectively, the "Revolving Credit Loans"), which amounts may be borrowed, repaid and reborrowed, provided that (i) the aggregate amount of such Revolving Credit Loans outstanding at any one time shall not exceed the Total Commitment, or such lesser amount of the Total Commitment as it may be reduced pursuant to Section 2.08 (a) hereof, (ii) Aggregate Outstandings shall not at any one time exceed the Total Commitment as in effect at such time and (iii) each Lender's Pro Rata Share of Aggregate Outstandings shall not exceed such Lender's Commitment. On the date of this Agreement, all the Existing Letters of Credit shall be deemed to be Outstanding L/C Exposure under this Agreement.

Appears in 2 contracts

Samples: Loan Agreement (Del Laboratories Inc), Loan Agreement (Del Laboratories Inc)

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The Revolving Credit Loans. (a) The Lenders Banks agree, severally, severally but not jointly, on the date terms and subject to the conditions of this Agreement, on the terms and conditions of this Agreement and in reliance upon the representations and warranties of the Borrower and the Guarantors set forth in this AgreementAgreement that the Banks will, to until the Maturity Date, lend to the Borrower prior to the Maturity Date such amounts Revolving Credit Loans as the Borrower may request from time to time (individually, a "Revolving Credit Loan" or collectively, the "Revolving Credit Loans")time, which amounts Loans may be borrowed, repaid and reborrowed, provided provided, however, that (iw) the aggregate amount of such Revolving Credit Loans outstanding Aggregate Outstandings at any one time shall not exceed the Total Commitment, or such lesser amount of the Total Commitment as it may be reduced pursuant to Section 2.08 (a) 2.07 hereof, (ii) Aggregate Outstandings shall not at any one time exceed the Total Commitment as in effect at such time and (iiix) each LenderBank's Pro Rata Share pro rata share of Aggregate Outstandings shall not exceed such Lender's Commitment. On the date of this Agreement, all the Existing Letters of Revolving Credit shall be deemed to be Outstanding Loans and L/C Exposure under shall not exceed its Commitment, (y) the aggregate principal amount of Permitted Acquisition Loans made during the term of this AgreementAgreement shall not exceed the Permitted Acquisition Sublimit and (z) if all or any part of a Permitted Acquisition Loan is repaid, such amount may not be reborrowed as a Permitted Acquisition Loan.

Appears in 1 contract

Samples: Loan Agreement (Hirsch International Corp)

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The Revolving Credit Loans. (a) The Lenders agree, severally, but not jointly, on the date of this Agreement, on the terms and conditions of this Agreement and in reliance upon the representations and warranties of the Borrower and the Guarantors set forth in this Agreement, to lend to the Borrower prior to the Maturity Date such amounts as the Borrower may request from time to time (individually, a "Revolving Credit Loan" or collectively, the "Revolving Credit Loans"), which amounts may be borrowed, repaid and reborrowed, provided that (i) the aggregate amount of such Revolving Credit Loans outstanding at any one time shall not exceed the Total Commitment, or such lesser amount of the Total Commitment as it may be reduced pursuant to Section 2.08 (a) hereof, or as shall be reduced by Mandatory Reductions pursuant to Section 2.08(b) hereof, (ii) Aggregate Outstandings shall not at any one time exceed the Total Commitment as in effect at such time and (iii) each Lender's Pro Rata Share of Aggregate Outstandings shall not exceed such Lender's Commitment. On the date of this Agreement, all letters of credit set forth on Schedule 2.01 annexed hereto and which are outstanding under the Existing Letters Chase Line of Credit or the EAB Line of Credit shall be deemed to be Outstanding L/C Exposure under this Agreement.

Appears in 1 contract

Samples: Loan Agreement (Del Laboratories Inc)

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