Common use of The Revolving Credit Clause in Contracts

The Revolving Credit. Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of the Credit Parties contained herein, each Revolving Lender severally and not jointly agrees to make Loans to the Borrower (each such Loan, a “Revolving Loan”) from time to time on any Business Day during the period from the Restatement Effective Date through the Final Availability Date, in an aggregate amount not to exceed at any time outstanding the amount set forth opposite such Lender’s name in Schedule 1.1(b) under the heading “Revolving Loan Commitments” (such amount as the same may be reduced or increased from time to time in accordance with this Agreement, being referred to herein as such Lender’s “Revolving Loan Commitment”); provided, however, that, the Lenders shall be under no obligation to fund any requested Borrowing of Revolving Loans to the extent that such requested Borrowing, if funded, would cause the aggregate principal amount of all outstanding Revolving Loans to exceed the Maximum Revolving Loan Balance. Subject to the other terms and conditions hereof, amounts borrowed under this subsection 1.1(b) may be repaid and reborrowed from time to time. The “Maximum Revolving Loan Balance” from time to time will be the lesser of:

Appears in 3 contracts

Samples: Credit Agreement (Zoe's Kitchen, Inc.), Credit Agreement (Zoe's Kitchen, Inc.), Credit Agreement (Zoe's Kitchen, Inc.)

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The Revolving Credit. Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of the Credit Parties contained herein, each Revolving Lender severally and not jointly agrees to make Loans to the Borrower (each such Loan, a “Revolving Loan”) from time to time on any Business Day during the period from the Restatement Fourth Amendment Effective Date through the Final Availability Date, in an aggregate amount not to exceed at any time outstanding the amount set forth opposite such Lender’s name in Schedule 1.1(b) under the heading “Revolving Loan Commitments” (such amount as the same may be reduced or increased from time to time in accordance with this Agreement, being referred to herein as such Lender’s “Revolving Loan Commitment”); provided, however, that, the Lenders shall be under no obligation to fund any requested Borrowing of Revolving Loans to the extent that such requested Borrowing, if funded, would cause the aggregate principal amount of all outstanding Revolving Loans to exceed the Maximum Revolving Loan Balance. Each Lender shall be deemed to have assigned and/or purchased, as necessary, any and all amounts in respect of the Aggregate Revolving Loan Commitment in order to accurately reflect its appropriate percentage of the Aggregate Revolving Loan Commitment as set forth on Schedule 1.1(b). Subject to the other terms and conditions hereof, amounts borrowed under this subsection 1.1(b) may be repaid and reborrowed from time to time. The “Maximum Revolving Loan Balance” from time to time will be the lesser of:

Appears in 3 contracts

Samples: Credit Agreement (Zoe's Kitchen, Inc.), Credit Agreement (Zoe's Kitchen, Inc.), Credit Agreement (Zoe's Kitchen, Inc.)

The Revolving Credit. Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of the Credit Parties contained herein, each Revolving Lender severally and not jointly agrees to make Loans to the Borrower (each such Loan, a “Revolving Loan”) from time to time on any Business Day during the period from the Restatement Effective Closing Date through the Final Availability Date, in an aggregate amount not to exceed at any time outstanding the amount set forth opposite such Lender’s name in Schedule 1.1(b) under the heading “Revolving Loan Commitments” (such amount as the same may be reduced or increased from time to time in accordance with this Agreement, being referred to herein as such Lender’s “Revolving Loan Commitment”); provided, however, that, the Lenders shall be under no obligation after giving effect to fund any requested Borrowing of Revolving Loans to the extent that such requested BorrowingLoans, if funded, would cause the aggregate principal amount of all outstanding Revolving Loans to shall not exceed the Maximum Revolving Loan Balance. Subject to the other terms and conditions hereof, amounts borrowed under this subsection 1.1(b) may be repaid and reborrowed from time to time. The “Maximum Revolving Loan Balance” from time to time will be the lesser of:Aggregate Revolving Loan Commitment then in effect, less the aggregate amount of Letter of Credit Obligations. If at any time the then outstanding principal balance of Revolving Loans exceeds the Maximum Revolving Loan Balance, then the Borrower shall immediately prepay outstanding Revolving Loans in an amount sufficient to eliminate such excess.

Appears in 2 contracts

Samples: Credit Agreement (Papa Murphy's Holdings, Inc.), Credit Agreement (Papa Murphy's Holdings, Inc.)

The Revolving Credit. Subject It is the purpose and intent of this Agreement that, after giving effect to the amendment and restatement of the Existing Credit Agreement and the fundings hereunder on the Restatement Date, each Revolving Lender will hold on the Restatement Date outstanding Revolving Loans in an aggregate principal amount equal to its Revolving Percentage of the aggregate principal amount of all Revolving Loans outstanding on the Restatement Date. Accordingly, each Revolving Lender agrees to fund the Administrative Agent on the Restatement Date an amount equal to its Revolving Percentage of such amount of Revolving Loans as shall be outstanding on the Restatement Date. Each Revolving Lender severally agrees, on the terms and conditions of this Agreement and in reliance upon the representations and warranties of the Credit Parties contained set forth herein, each Revolving Lender severally and not jointly agrees to make Loans loans to the Borrower Company (each such Loanloan, a "Revolving Loan”) "), from time to time on any Business Day during the period from the Restatement Effective Date through to the Final Availability Revolving Termination Date, in an aggregate amount not to exceed at any time outstanding such Revolving Lender's Revolving Percentage of the aggregate amount set forth opposite such Lender’s name in Schedule 1.1(bof the Revolving Commitments; provided that (i) under on the heading “Revolving Loan Commitments” (such amount as the same may be reduced or increased from time to time in accordance with this Agreement, being referred to herein as such Lender’s “Revolving Loan Commitment”); provided, however, thatRestatement Date, the Lenders shall be under no obligation aggregate amount of Revolving Loans may not exceed $100,000,000 and (ii) after giving effect to fund any requested Borrowing of Revolving Loans, (x) the sum of the Effective Amount of all Revolving Loans to plus the extent that such requested Borrowing, if funded, would cause Effective Amount of all Swingline Loans plus the Effective Amount of all L/C Obligations shall not exceed (y) the lesser of (1) the aggregate principal amount of all outstanding the Revolving Loans to exceed Commitments and (2) the Maximum Revolving Loan BalanceBorrowing Base. Subject Within the foregoing limits, and subject to the other terms and conditions hereof, amounts borrowed the Company may borrow under this subsection 1.1(b) may be repaid 2.1(b), prepay under Section 2.7 and reborrowed from time to time. The “Maximum Revolving Loan Balance” from time to time will be the lesser of:reborrow under this subsection 2.1(b).

Appears in 2 contracts

Samples: Credit Agreement (Del Monte Foods Co), Credit Agreement (Del Monte Foods Co)

The Revolving Credit. Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of the Credit Parties contained herein, each Revolving Lender severally and not jointly agrees to make Loans to the Borrower (each such Loan, a “Revolving Loan”) from time to time on any Business Day during the period from the Restatement Third Amendment Effective Date through the Final Availability Date, in an aggregate amount not to exceed at any time outstanding the amount set forth opposite such Lender’s name in Schedule 1.1(b) under the heading “Revolving Loan Commitments” (such amount as the same may be reduced or increased from time to time in accordance with this Agreement, being referred to herein as such Lender’s “Revolving Loan Commitment”); provided, however, that, the Lenders shall be under no obligation to fund any requested Borrowing of Revolving Loans to the extent that such requested Borrowing, if funded, would cause the aggregate principal amount of all outstanding Revolving Loans to exceed the Maximum Revolving Loan Balance. Subject to the other terms and conditions hereof, amounts borrowed under this subsection 1.1(b) may be repaid and reborrowed from time to time. The “Maximum Revolving Loan Balance” from time to time will be the lesser of:

Appears in 2 contracts

Samples: Credit Agreement (Zoe's Kitchen, Inc.), Credit Agreement (Zoe's Kitchen, Inc.)

The Revolving Credit. Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of the Credit Parties contained herein, each Revolving Lender severally and not jointly agrees to make Loans to the Borrower (each such LoanLoan and each Incremental Revolving Loan (if any), a “Revolving Loan”) from time to time on any Business Day during the period from the Restatement Effective Closing Date through the Final Availability Date, in an aggregate amount not to exceed at any time outstanding the amount set forth opposite such Lender’s name in Schedule 1.1(b) under the heading “Revolving Loan Commitments” (such amount as the same may be reduced or increased from time to time in accordance with this Agreement, being referred to herein as such Lender’s “Revolving Loan Commitment”); provided, however, that, the Lenders shall be under no obligation after giving effect to fund any requested Borrowing of Revolving Loans to the extent that such requested BorrowingLoans, if funded, would cause the aggregate principal amount of all outstanding Revolving Loans to shall not exceed the Maximum Revolving Loan Balance. Subject to the other terms and conditions hereof, amounts borrowed under this subsection Section 1.1(b) may be repaid and reborrowed from time to time. The “Maximum Revolving Loan Balance” from time to time will be (i) the lesser of:Aggregate Revolving Loan Commitment then in effect, less (ii) the aggregate amount of Letter of Credit Obligations, less (iii) the aggregate principal amount of outstanding Swing Loans. If at any time the then outstanding principal balance of Revolving Loans exceeds the Maximum Revolving Loan Balance, then the Borrower shall immediately prepay outstanding Revolving Loans in an amount sufficient to eliminate such excess.

Appears in 2 contracts

Samples: Credit Agreement (TA THI Parent, Inc.), Credit Agreement (Truck Hero, Inc.)

The Revolving Credit. Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of the Credit Parties contained hereinAgreement, each Revolving Lender severally and not jointly agrees to make Loans to the Borrower (each such Loan, a “Revolving Loan”) from time to time on any Business Day during the period from the Restatement Effective Closing Date through the Final Availability Revolving Termination Date, in an aggregate amount not to exceed at any time outstanding the amount set forth opposite such Lender’s name in Schedule 1.1(b) under the heading “Revolving Loan CommitmentsCommitmentor in the Assignment pursuant to which such Lender became a Lender hereunder (such amount amount, as the same may be reduced or increased from time to time in accordance with this Agreement, being referred to herein as such Lender’s “Revolving Loan Commitment”); provided, however, that, the Lenders shall be under no obligation after giving effect to fund any requested Borrowing of Revolving Loans to the extent that such requested BorrowingLoans, if funded, would cause the aggregate principal amount of all outstanding Revolving Loans to shall not exceed the Maximum Revolving Loan Balance. Subject to the other terms and conditions hereof, amounts borrowed under this subsection Section 1.1(b) may be repaid and reborrowed from time to timetime without premium or penalty except as provided in Section 10.4. The “Maximum Revolving Loan Balance” from at any time shall equal the Aggregate Revolving Loan Commitment then in effect, less the aggregate amount of Letter of Credit Obligations. If at any time the then outstanding principal balance of Revolving Loans exceeds the Maximum Revolving Loan Balance, then the Borrower shall, no later than the Business Day following written notice thereof by the Agent or Required Revolving Lenders (provided that if such notice is received after 3:00 p.m.(New York time) on any such day, the Borrower shall make such prepayment no later than the second Business Day after such notice is received), prepay outstanding Revolving Loans in an amount sufficient to time will eliminate such excess. No Revolving Loans may be drawn on the lesser of:Closing Date except for Permitted Closing Date Revolving Extensions of Credit. Revolving Loans may be Base Rate Loans or LIBOR Rate Loans, in each case as provided herein.

Appears in 2 contracts

Samples: Credit Agreement (Lulu's Fashion Lounge Holdings, Inc.), Credit Agreement (Lulu's Fashion Lounge Holdings, Inc.)

The Revolving Credit. Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of the Credit Parties contained herein, each Revolving Lender severally and not jointly agrees to make Loans to the Borrower (each such Loan, a “Revolving Loan”) from time to time on any Business Day during the period from the Restatement Effective Closing Date through the Final Availability Date, in an aggregate amount not to exceed at any time outstanding the amount set forth opposite such Lender’s name in Schedule 1.1(b) 1.1 under the heading “Revolving Loan Commitments” (such amount as the same may be reduced or increased from time to time in accordance with this Agreement, being referred to herein as such Lender’s “Revolving Loan Commitment”); provided, however, that, the Lenders shall be under no obligation after giving effect to fund any requested Borrowing of Revolving Loans to the extent that such requested BorrowingLoans, if funded, would cause the aggregate principal amount of all outstanding Revolving Loans to shall not exceed the Maximum Revolving Loan Balance. Subject to the other terms and conditions hereof, amounts borrowed under this subsection 1.1(b1.1(a) may be repaid and reborrowed from time to time. The “Maximum Revolving Loan Balance” from time to time will be equal to (i) at any time the lesser of:Total Leverage Ratio as of the most recently ended Fiscal Quarter for which Borrower has delivered a Compliance Certificate pursuant to Section 4.2(b) exceeds 6.50 to 1.00, $25,000,000 and (ii) at all other times, the Aggregate Revolving Loan Commitment then in effect less, the aggregate amount of Letter of Credit Obligations. If at any time the then outstanding principal balance of Revolving Loans exceeds the Maximum Revolving Loan Balance, then the Borrower shall immediately prepay outstanding Revolving Loans in an amount sufficient to eliminate such excess.

Appears in 1 contract

Samples: Credit Agreement (Entravision Communications Corp)

The Revolving Credit. Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of the Credit Parties contained herein, each Revolving Lender severally and not jointly agrees to make Loans to the Borrower (each such Loan, a “Revolving Loan”) from time to time on any Business Day during the period from the Restatement Effective Closing Date through the Final Availability Date, in an aggregate amount not to exceed at any time outstanding the amount set forth opposite such Lender’s name in Schedule 1.1(b) under the heading “Revolving Loan Commitments” (such amount amount, as the same may be reduced or increased from time to time in accordance with this Agreement, being referred to herein as such Revolving Lender’s “Revolving Loan Commitment”); provided, however, that, the Lenders shall be under no obligation after giving effect to fund any requested Borrowing of Revolving Loans to the extent that such requested BorrowingLoans, if funded, would cause the aggregate principal amount of all outstanding Revolving Loans to shall not exceed the Maximum Revolving Loan Balance. Subject to the other terms and conditions hereof, amounts borrowed under this subsection 1.1(b) may be repaid (without premium or penalty except as, and to the extent, set forth in Section 10.4) and reborrowed from time to time. The “Maximum Revolving Loan Balance” from time to time will equal (i) the Aggregate Revolving Loan Commitment then in effect less (ii) the sum of (I) the aggregate amount of Letter of Credit Obligations plus (II) the aggregate principal amount of outstanding Swing Loans plus (III) the Interest Reserve (after giving effect to any reduction thereof to the extent a requested Revolving Loan shall be utilized to pay interest for which the lesser of:Interest Reserve has been established). If at any time the then outstanding principal balance of Revolving Loans exceeds the Maximum Revolving Loan Balance, then the Borrower shall immediately prepay outstanding Revolving Loans in an amount sufficient to eliminate such excess.

Appears in 1 contract

Samples: First Lien Revolving Credit Agreement (GSE Holding, Inc.)

The Revolving Credit. Subject Holdings hereby acknowledges and agrees that pursuant to the terms and conditions of this Agreement and in reliance upon Original Credit Agreement, the representations and warranties of the Credit Parties contained herein, each Revolving Lender severally and not jointly agrees Original Banks provided to make Loans to the Borrower (each such Loan, a “Revolving Loan”) Holdings revolving loans from time to time of which [$_____________]82,900,000.00 in aggregate principal amount is outstanding on any Business Day during the period from date hereof. Subject to the Restatement conditions set forth herein, the parties hereto hereby acknowledge and agree that on and after the Effective Date through the Final Availability Date, each Remaining Bank and each New Bank shall be a Bank under this Agreement and the other Loan Documents with Revolving Commitments and Pro Rata Shares as set forth on Schedule 2.01 attached hereto (each such commitment, a "Revolving Commitment") in an aggregate amount not to exceed at any time outstanding the amount set forth opposite Aggregate Revolving Commitment, with the rights, duties and obligations of such Lender’s name a Bank under this Agreement and the other Loan Documents. To effect the foregoing, on the Effective Date, Agent shall calculate the Pro Rata Share of each Remaining Bank and each New Bank in Schedule 1.1(b) under the heading “each Revolving Loan Commitments” then outstanding (each such amount as the same may be reduced or increased loan, together with all other loans advanced from time to time pursuant to this Section 2.01(b), a "Revolving Loan"). Based upon such calculation, each New Bank and any applicable Remaining Bank shall purchase from the Original Banks such shares in accordance with this Agreement, being referred the outstanding Revolving Loans as Agent determines is necessary to herein as such Lender’s “cause each Remaining Bank and each New Bank to hold Revolving Loans in each outstanding Revolving Loan Commitment”); providedBorrowing in a principal amount equal to such Remaining Bank's and such New Bank's Pro Rata Share of such Revolving Loan Borrowings. On and after the Effective Date, however, that, the Lenders shall be under no obligation after giving effect to fund any requested Borrowing of Revolving Loans to Loans, (i) the extent that such requested Borrowing, if funded, would cause the aggregate principal amount Effective Amount of all outstanding Revolving Loans and Swingline Loans and the Effective Amount of all L/C Obligations shall not exceed an amount equal to the lesser of (1) the combined Revolving Commitments of the Banks and (2) the Borrowing Base; and (ii) the Effective Amount of the Revolving Loans of any Bank plus the participation of such Bank in the Effective Amount of all L/C Obligations and the Effective Amount of all Swingline Loans shall not at any time exceed such Bank's Revolving Commitment. Within the Maximum limits of each Bank's Revolving Loan Balance. Subject Commitment, and subject to the other terms and conditions hereof, amounts borrowed Holdings may borrow under this subsection 1.1(b) may be repaid Section 2.01, prepay under Section 2.07 and reborrowed from time to time. The “Maximum Revolving Loan Balance” from time to time will be the lesser of:reborrow under this Section 2.01.

Appears in 1 contract

Samples: Credit Agreement (Building Materials Holding Corp)

The Revolving Credit. Subject to Each Bank severally agrees, on the terms and conditions of this Agreement and in reliance upon the representations and warranties of the Credit Parties contained set forth herein, each Revolving Lender severally and not jointly agrees to make Loans loans to the Borrower (each such Loanloan, a “Revolving Loan”) from time to time on any Business Day during the period from the Restatement Effective Closing Date through to the Final Availability Termination Date, in an aggregate principal amount not to exceed at any time outstanding the amount set forth opposite such LenderBank’s name in on Schedule 1.1(b) under the heading “Revolving Loan Commitments” 2.1 (such amount as the same may be reduced under Section 2.5 or Section 2.7 or reduced or increased from time to time in accordance with this Agreementas a result of one or more assignments under Section 12.9, being referred to herein as such Lenderthe Bank’s “Revolving Loan Commitment”); provided, however, that, the Lenders shall be under no obligation that after giving effect to fund any requested Borrowing of Revolving Loans to Loans, the extent that such requested Borrowing, if funded, would cause the aggregate principal amount Effective Amount of all outstanding Revolving Loans to plus the Effective Amount of all L/C Obligations plus the Effective Amount of all Swing Line Loans shall not exceed the Maximum Revolving Loan BalanceCommitments. Subject Within the limits of each Bank’s Revolving Commitment, and subject to the other terms and conditions hereof, amounts borrowed the Borrower may borrow under this subsection 1.1(b) Section 2.1(b), prepay under Section 2.6 and reborrow under this Section 2.1(b). As a subfacility of the Banks’ Revolving Commitments, the Borrower may be repaid and reborrowed from time request the Issuing Bank to time. The “Maximum Revolving Loan Balance” Issue Letters of Credit from time to time will be pursuant to Article III. In addition, the lesser of:Borrower may request the Swing Line Bank to make Swing Line Loans to the Borrower from time to time pursuant to Section 2.16.

Appears in 1 contract

Samples: Credit Agreement (Amerigas Partners Lp)

The Revolving Credit. Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of the Credit Parties contained herein, each Revolving Lender severally and not jointly agrees to make Loans to the Borrower (each such Loan, a “Revolving Loan”) from time to time on any Business Day during the period from the Restatement Effective Closing Date through the Final Availability Date, in an aggregate amount not to exceed at any time outstanding the amount set forth opposite such Lender’s name in Schedule 1.1(b) under the heading “Revolving Loan Commitments” (such amount amount, as the same may be reduced or increased from time to time in accordance with this AgreementAgreement (including pursuant to Section 1.12), being referred to herein as such Revolving Lender’s “Revolving Loan Commitment”); provided, however, that, the Lenders shall be under no obligation after giving effect to fund any requested Borrowing of Revolving Loans to the extent that such requested BorrowingLoans, if funded, would cause the aggregate principal amount of all outstanding Revolving Loans to shall not exceed the Maximum Revolving Loan Balance. Subject to the other terms and conditions hereof, amounts borrowed under this subsection 1.1(b) may be repaid (without premium or penalty except as, and to the extent, set forth in Section 10.4) and reborrowed from time to time. The “Maximum Revolving Loan Balance” from time to time will equal (i) the Aggregate Revolving Loan Commitment then in effect less (ii) the sum of (I) the aggregate amount of Letter of Credit Obligations plus (II) the aggregate principal amount of outstanding Swing Loans plus (III) the Interest Reserve (after giving effect to any reduction thereof to the extent a requested Revolving Loan shall be utilized to pay interest for which the lesser Interest Reserve has been established). If at any time the then outstanding principal balance of Revolving Loans exceeds the Maximum Revolving Loan Balance, then the Borrower shall immediately prepay outstanding Revolving Loans in an amount sufficient to eliminate such excess. As of the Seventh Amendment Effective Date, the aggregate outstanding principal amount of Revolving Loans (such outstanding Revolving Loans, the “Seventh Amendment Revolving Loans”) is $18,815,125.99 (as such amount may be reduced by any payments in respect thereof, the “Revolving Loan Cap”) and the aggregate face value of all Letters of Credit (such outstanding Letters of Credit, the “Seventh Amendment LCs”) Issued and outstanding under this Agreement is $1,988,026.03 (as such amount may be reduced by the cancellation or termination of any Letter of Credit Existing as of the Seventh Amendment Effective Date, the “LC Facility Cap”; the LC Facility Cap together with the Revolving Loan Cap are sometimes referred to herein collectively as the “Revolving Facility Cap”), in each case, as set forth on Schedule 1.1(b). Notwithstanding anything to the contrary set forth in this Section 1.1(b) or anywhere else in the Credit Agreement or any other Loan Document, from and after the Seventh Amendment Effective Date (a) prior to the repayment in full of all revolving loans and other obligations under (including the cash collateralization of all letters of credit issued thereunder) and the termination of:, the First Lien Revolving Facility, no further Revolving Loans shall be made or funded or Letters of Credit Issued hereunder (provided, Revolving Loans may be funded solely to pay any L/C Reimbursement Obligations that may arise in respect of Seventh Amendment LCs, whereupon the Revolving Loan Cap shall be deemed to have increased, and the LC Facility Cap reduced, by such amount) and (b) until the Required Leverage Date shall occur, no (i) Letters of Credit shall be Issued if, after giving effect to such Issuance, the aggregate face amount of all Issued and outstanding Letters of Credit shall exceed the LC Facility Cap, (ii) Revolving Loans shall be made or funded if, after giving effect to such making or funding, the aggregate outstanding principal amount of Revolving Loans shall exceed the Revolving Loan Cap (except in respect of Revolving Loans funded solely to pay L/C Reimbursement Obligation arising in respect of a Letter of Credit Issued in accordance herewith, whereupon the Revolving Loan Cap shall be deemed to have increased, and the LC Facility Cap reduced, by such amount) and (iii) Revolving Loans shall be made or funded and no Letters of Credit shall be Issued if, after giving effect to such making, funding or Issuance, the sum of (y) aggregate outstanding principal amount of Revolving Loans and (z) all Issued and outstanding Letters of Credit, shall exceed the Revolving Facility Cap.”

Appears in 1 contract

Samples: First Lien Credit Agreement (GSE Holding, Inc.)

The Revolving Credit. Subject to Each Revolving Lender severally agrees, on the terms and conditions of this Agreement and in reliance upon the representations and warranties of the Credit Parties contained set forth herein, each Revolving Lender severally and not jointly agrees to make Loans loans to the Borrower Company (each such Loanloan, a "Revolving Loan”) "), from time to time on any Business Day during the period from the Restatement Effective Date through to the Final Availability Revolving Termination Date, in an aggregate amount not to exceed at any time outstanding such Revolving Lender's Revolving Percentage of the aggregate amount of the Revolving Commitments; provided that, after giving effect to any Borrowing of Revolving Loans, (x) the sum of the Effective Amount of all Revolving Loans plus the Effective Amount of all Swingline Loans plus the Effective Amount of all L/C Obligations shall not exceed (y) the lesser of (1) the aggregate amount of the Revolving Commitments and (2) the Borrowing Base; provided, further, however, that the Company may borrow an amount up to the amount set forth opposite such Lender’s name in Schedule 1.1(b) under of the heading “Revolving Loan Commitments” (such amount as the same may be reduced or increased Redemption Reserve at any time and from time to time if the Company delivers to the Administrative Agent a certificate, in accordance with this Agreementform and substance satisfactory to the Administrative Agent, being referred to herein as the effect that the Company will use the proceeds of such Lender’s “Revolving Loan Commitment”); provided, however, that, borrowing allocable to the Lenders shall be under no obligation Redemption Reserve to finance any or all of the Permitted Redemptions or to fund the prepayment described in subsection 2.8(a)(x), but in no event shall any requested Borrowing such borrowing cause the Effective Amount of all Revolving Loans to plus the extent that such requested Borrowing, if funded, would cause the aggregate principal amount Effective Amount of all outstanding Revolving Swingline Loans plus the Effective Amount of all L/C Obligations to exceed the Maximum lesser of (x) the Borrowing Base (for this purpose, determined without deducting the Redemption Reserve as contemplated by clause (f) of the definition of "Borrowing Base") and (y) the aggregate amount of the Revolving Loan BalanceCommitments. Subject Within the foregoing limits, and subject to the other terms and conditions hereof, amounts borrowed the Company may borrow under this subsection 1.1(b) may be repaid 2.1(c), prepay under Section 2.7 and reborrowed from time to time. The “Maximum Revolving Loan Balance” from time to time will be the lesser of:reborrow under this subsection 2.1(c).

Appears in 1 contract

Samples: Credit Agreement (Del Monte Foods Co)

The Revolving Credit. Subject to Each Bank severally agrees, on the terms and conditions of this Agreement and in reliance upon the representations and warranties of the Credit Parties contained set forth herein, each Revolving Lender severally and not jointly agrees to make Loans loans to the Borrower (each such Loan, a “Revolving Loan”) Companies from time to time on any Business Day during the period from the Restatement Effective Closing Date through to the Final Availability Revolving Termination Date, in an aggregate amount not to exceed at any time outstanding the amount set forth opposite such Lender’s name in on Schedule 1.1(b) under the heading “Revolving Loan Commitments” 2.01 (such amount as the same may be reduced under Section 2.05 or increased from time to time in accordance with this Agreementas a result of one or more assignments under Section 11.08, being referred to herein as such Lender’s “Revolving Loan the Bank's "Commitment"); provided, however, provided that, after giving effect to any Credit Extension: (a) the Lenders shall be under no obligation to fund any requested Borrowing of Revolving Loans to the extent that such requested Borrowing, if funded, would cause the aggregate principal amount Effective Amount of all outstanding Revolving Loans to and L/C Obligations together shall not at any time exceed the Maximum Revolving Loan Balancecombined Commitments; and (b) the participation of any Bank in the Effective Amount of all L/C Obligations plus the Effective Amount of the Loans of such Bank shall not at any time exceed such Bank's Commitment. Subject Within the limits of each Bank's Commitment, and subject to the other terms and conditions hereof, amounts borrowed any Company may borrow under this subsection 1.1(bSection 2.01, prepay under Section 2.06 and reborrow under this Section 2.01. Each of the Companies understands and agrees that the commitments of the "Banks" under the Existing Facility to make advances under the Existing Facility terminate, without necessity of further act of the parties, upon execution of this Agreement by the Companies. Each of the Companies confirms and acknowledges its obligations to pay all amounts due under the Existing Facility, and each covenants and agrees that the proceeds of the initial borrowings under this Agreement shall be used to pay all principal and accrued interest (if any) may be repaid and reborrowed from time to time. The “Maximum Revolving Loan Balance” from time to time will be other amounts due under the lesser of:Existing Facility.

Appears in 1 contract

Samples: Credit Agreement (Esterline Technologies Corp)

The Revolving Credit. (a) Subject to the terms and conditions of this Agreement and in reliance upon so long as there exists no Default, at any time prior to the representations and warranties of the Revolving Credit Parties contained hereinTermination Date, each Revolving Lender Lender, severally and not jointly agrees to jointly, shall make Loans such Revolving Credit Advances to the Borrower (each such Loan, a “Revolving Loan”) as the Borrower may from time to time on any Business Day during request, by notice to the period from the Restatement Effective Date through the Final Availability DateAgent in accordance with Section 2.2, in an aggregate amount (i) as to each Lender, not to exceed at any time outstanding such Lender's Commitment Percentage of the Maximum Revolving Credit Amount, and (ii) as to all Lenders, not to exceed (A) the lesser of (I) the Borrowing Base or (II) the Maximum Revolving Credit Amount LESS (B) at all times prior to the date the Cohex Xxxes have been paid in full and canceled, $20,000,000, and from and after the date the Cohex Xxxes have been paid in full and canceled, $0 (the amount set forth opposite such Lender’s name referred to in Schedule 1.1(bthis clause (ii)(B) under is the heading “"Cohex Xxxerve"). The outstanding principal amount of the Revolving Loan Commitments” (such amount as Credit Advances, together with all accrued interest and other fees and charges related thereto, shall be repaid in full on the same may be reduced or increased Revolving Credit Termination Date. On the Closing Date the Borrower shall execute and deliver to each Lender a Revolving Credit Note to evidence the Revolving Credit Advances from time to time made by such Lender to the Borrower hereunder. Notwithstanding anything to the contrary, in accordance the event that the Borrower Reorganization is not completed by December 31, 1998, (i) all Loans outstanding as of that date shall be canceled, (ii) the outstanding principal amount of the Revolving Credit Advances, together with this Agreementall accrued interest and other fees and charges related thereto and all other Lender Obligations, being referred to herein as such Lender’s “Revolving Loan Commitment”); provided, however, that, shall be repaid in full and (iii) the Lenders shall be under have no further obligation to fund any requested Borrowing of make additional Revolving Loans Credit Advances to the extent that such requested Borrowing, if funded, would cause the aggregate principal amount of all outstanding Revolving Loans to exceed the Maximum Revolving Loan Balance. Subject to the other terms and conditions hereof, amounts borrowed under this subsection 1.1(b) may be repaid and reborrowed from time to time. The “Maximum Revolving Loan Balance” from time to time will be the lesser of:Borrower.

Appears in 1 contract

Samples: Credit Agreement (Boston Celtics Limited Partnership)

The Revolving Credit. Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of the Credit Parties contained herein, each Revolving Lender severally and not jointly agrees to make Loans to the Borrower (each such Loan, a “Revolving Loan”) from time to time on any Business Day during the period from the Restatement Seventh Amendment Effective Date through the Final Availability Date, in an aggregate amount not to exceed at any time outstanding the amount such Lender’s Revolving Loan Commitment, which Revolving Loan Commitments are set forth opposite such Lender’s name in Schedule 1.1(b) under the heading “Revolving Loan Commitments” (as such amount as the same may be reduced or increased from time to time in accordance with this Agreement, being referred to herein as such Lender’s “Revolving Loan Commitment”); provided, however, that, the Lenders shall be under no obligation after giving effect to fund any requested Borrowing of Revolving Loans to the extent that such requested BorrowingLoans, if funded, would cause the aggregate principal amount of all outstanding Revolving Loans to shall not exceed the Maximum Revolving Loan Balance. Subject to the other terms and conditions hereof, amounts borrowed under this subsection Section 1.1(b) may be repaid and reborrowed from time to time. The “Maximum Revolving Loan Balance” from time to time will be the lesser of:Aggregate Revolving Loan Commitment then in effect less, in either case, the sum of (I) the aggregate amount of Letter of Credit Obligations plus (II) the aggregate principal amount of outstanding Swing Loans. If at any time the then outstanding principal balance of Revolving Loans exceeds the Maximum Revolving Loan Balance, then the Borrower shall immediately prepay outstanding Revolving Loans in an amount sufficient to eliminate such excess.”

Appears in 1 contract

Samples: Credit Agreement (Nobilis Health Corp.)

The Revolving Credit. Subject Holdings hereby acknowledges and agrees that pursuant to the Existing Credit Agreement, the Existing Lenders provided to Holdings revolving loans from time to time in an aggregate principal amount of up to $190,000,000, of which [$ ] in aggregate principal amount is outstanding on the date hereof. On the terms and subject to the conditions set forth herein, the parties hereto hereby acknowledge and agree that on and after the Effective Date, each Remaining Lender and each New Lender that desires to provide a portion of the revolving credit facility shall be a Revolving Lender under this Agreement and in reliance upon the representations other Loan Documents with Revolving Commitments and warranties of the Credit Parties contained herein, each Revolving Lender severally and not jointly agrees to make Loans to the Borrower Proportionate Shares as set forth on Schedule 2.01 attached hereto (each such Loancommitment, a “Revolving LoanCommitment”) from time to time on any Business Day during the period from the Restatement Effective Date through the Final Availability Date, in an aggregate amount not to exceed at any time the Aggregate Revolving Commitment, with the rights, duties and obligations of such a Lender under this Agreement and the other Loan Documents. To effect the foregoing, on the Effective Date, Administrative Agent shall calculate the Revolving Proportionate Share of each Remaining Lender and each New Lender in each revolving loan then outstanding the amount set forth opposite (each such Lender’s name in Schedule 1.1(b) under the heading “Revolving Loan Commitments” (such amount as the same may be reduced or increased loan, together with all other loans advanced from time to time pursuant to this Section 2.01(b), a “Revolving Loan”). Based upon such calculation, each New Lender and any applicable Remaining Lender shall purchase from the Departing Lenders (and, to the extent necessary, the other Remaining Lenders) such shares in accordance the outstanding Revolving Loans (as well as any outstanding L/C Obligations and Swingline Loans) as Administrative Agent determines is necessary to cause each Remaining Lender and each New Lender to hold Revolving Loans (as well as L/C Obligations and Swingline Loans) in each outstanding Revolving Loan Borrowing in a principal amount equal to such Remaining Lender’s and such New Lender’s Proportionate Share of such Revolving Loan Borrowings and Holdings, the Company and the Guarantors shall have no further obligations with respect to the Existing Credit Facility. On and after the Effective Date, on the terms and subject to the conditions of this Agreement, being referred each Revolving Lender severally agrees to herein as such Lender’s “advance to Holdings from time to time during the period beginning on the Effective Date and ending on the Revolving Loan Commitment”)Maturity Date such loans in Dollars as Holdings may request under this Section 2.01; provided, however, that, the Lenders shall be under no obligation that (i) after giving effect to fund any requested Borrowing of Revolving Loans to Loans, (A) the extent that such requested Borrowing, if funded, would cause the aggregate principal amount Effective Amount of all outstanding Revolving Loans and Swingline Loans and the Effective Amount of all L/C Obligations shall not exceed an amount equal to the lesser of (1) the combined Revolving Commitments of the Revolving Lenders and (2) the Borrowing Base; and (B) the Effective Amount of the Revolving Loans of any Revolving Lender plus the participation of such Revolving Lender in the Effective Amount of all L/C Obligations and the Effective Amount of all Swingline Loans shall not at any time exceed such Revolving Lender’s Revolving Commitment. Within the Maximum limits of each Revolving Loan Balance. Subject Lender’s Revolving Commitment, and subject to the other terms and conditions hereof, amounts borrowed Holdings may borrow under this subsection 1.1(b) may be repaid Section 2.01, prepay under Section 2.07 and reborrowed from time to time. The “Maximum Revolving Loan Balance” from time to time will be the lesser of:reborrow under this Section 2.01.

Appears in 1 contract

Samples: Credit Agreement (Building Materials Holding Corp)

The Revolving Credit. Subject to Each Lender severally agrees, on the terms and conditions of this Agreement and in reliance upon the representations and warranties of the Credit Parties contained hereinhereinafter set forth, each Revolving Lender severally and not jointly agrees to make Loans to the Borrower (each such Loan, a “Revolving Loan”"REVOLVING LOAN") from time to time on any Business Day during the period from the Restatement Effective Closing Date through to the Final Availability Revolving Termination Date, in an aggregate amount not to exceed at any time outstanding (when added to such Lender's Commitment Percentage of the then outstanding Net L/C Obligations) the amount set forth opposite such Lender’s 's name in on Schedule 1.1(b) I under the heading "Revolving Loan Commitments” Commitment" (such amount amount, as the same may be reduced or increased from time pursuant to time in accordance with the provisions of this Agreement, being referred to herein as such Lender’s “Revolving Loan Commitment”'s "REVOLVING COMMITMENT"); providedPROVIDED, howeverHOWEVER, that, the Lenders shall be under no obligation after giving effect to fund any requested Borrowing of Revolving Loans to the extent that such requested BorrowingLoans, if funded, would cause the aggregate principal amount of all outstanding Revolving Loans to and Net L/C Obligations shall not exceed the Maximum Aggregate Revolving Loan BalanceCommitment. Subject Within the limits of each Lender's Revolving Commitment, and subject to the other terms and conditions hereof, amounts borrowed the Borrower may borrow under this subsection 1.1(b) may be repaid 2.1(b), prepay pursuant to Section 2.6 and reborrowed from time reborrow pursuant to time. The “Maximum Revolving Loan Balance” from time to time will be the lesser of:this subsection 2.1(b).

Appears in 1 contract

Samples: Credit Agreement (Lodgenet Entertainment Corp)

The Revolving Credit. Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of the Credit Parties contained herein, each Revolving Lender severally and not jointly agrees to make Loans to the Borrower (each such Loan, a “Revolving Loan”) from time to time on any Business Day during the period from the Restatement Effective Closing Date through to the Final Availability Revolving Termination Date, in an aggregate amount not to exceed at any time outstanding the amount set forth opposite such Lender’s name in Schedule 1.1(b) under the heading “Revolving Loan CommitmentsCommitment” (such amount as the same may be reduced or increased from time to time in accordance with this Agreementpursuant to subsection 1.8(g) or as a result of one or more assignments pursuant to Section 9.9, being referred to herein as such Lender’s “Revolving Loan Commitment”); provided, however, that, the Lenders shall be under no obligation after giving effect to fund any requested Borrowing of Revolving Loans to the extent that such requested BorrowingLoans, if funded, would cause the aggregate principal amount of all outstanding Revolving Loans to shall not exceed the Maximum Revolving Loan Balance. Subject to the other terms and conditions hereof, amounts borrowed under this subsection 1.1(b) may be repaid and reborrowed from time to time. The “Maximum Revolving Loan Balance” from time to time will be is the lesser of:Aggregate Revolving Loan Commitment then in effect less the sum of (x) the aggregate amount of Letter of Credit Obligations and (y) the aggregate principal amount of outstanding Swing Loans. If at any time the then outstanding principal balance of Revolving Loans exceeds the Maximum Revolving Loan Balance, then the Borrower shall immediately prepay outstanding Revolving Loans in an amount sufficient to eliminate such excess.

Appears in 1 contract

Samples: Credit Agreement (Ignite Restaurant Group, Inc.)

The Revolving Credit. (i) Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of the Credit Parties contained herein, each Revolving Lender severally and not jointly agrees to make Loans to the Borrower Borrowers (each such LoanLoan and each Incremental Revolving Loan (if any), a “Revolving Loan”) from time to time on any Business Day during the period from the Restatement Effective Closing Date through the Final Availability Date, in an aggregate amount not to exceed at any time outstanding such Xxxxxx’s Revolving Loan Commitment, which Revolving Loan Commitments, as of the amount Closing Date, are set forth on Schedule 2.1(b) opposite such LenderXxxxxx’s name in Schedule 1.1(b) under the heading “Revolving Loan Commitments” (such amount as the same may be reduced or increased from time to time in accordance with this Agreement, being referred to herein as such Lender’s “Revolving Loan Commitment); provided, however, provided that, the Lenders shall be under no obligation after giving effect to fund any requested Borrowing of Revolving Loans to Loans, the extent that such requested Borrowing, if funded, would cause the aggregate principal amount of all outstanding Revolving Loans to Total Loan Balance shall not exceed the Maximum Revolving Loan BalanceCap. Subject to the other terms and conditions hereof, amounts borrowed under this subsection 1.1(bSection 2.1(b) may be repaid and reborrowed from time to time. The “Maximum (ii) [Reserved]. (iii) [Reserved]. (iv) Subject to the limitations set forth below (and notwithstanding anything to the contrary in Section 3.2), Agent is authorized by the Borrower Representative and the Revolving Loan Balance” Lenders, from time to time will in Agent’s Permitted Discretion (but shall have absolutely no obligation), to make Revolving Loans to the Borrower Representative, on behalf of all Lenders at any time that any condition precedent set forth in Section 3.2 has not been satisfied or waived, which Agent, in its Permitted Discretion, deems necessary or desirable for the purposes specified in the definition of “Protective Advances”. Any Protective Advance may be made in a principal amount that would cause the lesser of:Aggregate Revolving Exposure (including such Protective Advance) to exceed the Consolidated Borrowing Base; provided that the aggregate amount of outstanding Protective Advances, plus the aggregate of all other Aggregate Revolving Exposure, shall not exceed the

Appears in 1 contract

Samples: Credit Agreement (Phreesia, Inc.)

The Revolving Credit. Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of the Credit Parties contained herein, each Revolving Lender severally and not jointly agrees to make Loans to the Borrower (each such Loan, each Incremental Revolving Loan, and unless the context shall otherwise require, each Refinancing Revolving Loan, a “Revolving Loan”) from time to time on any Business Day during the period from the Restatement Effective Closing Date through the Final Availability Date, in an aggregate amount not to exceed at any time outstanding the amount set forth opposite such Lender’s name in Schedule 1.1(b1.1(c) under the heading “Revolving Loan Commitments” (such amount as the same may be reduced or increased from time to time in accordance with this Agreement, being referred to herein as such Lender’s “Revolving Loan Commitment”); provided, however, that, the Lenders shall be under no obligation after giving effect to fund any requested Borrowing of Revolving Loans to the extent that such requested BorrowingLoans, if funded, would cause the aggregate principal amount of all outstanding Revolving Loans to shall not exceed the Maximum Revolving Loan Balance. Subject to the other terms and conditions hereof, amounts borrowed under this subsection 1.1(b1.1(c) may be repaid and reborrowed from time to time. The “Maximum Revolving Loan Balance” from time to time will be equal to the lesser of:Aggregate Revolving Loan Commitment then in effect less, the aggregate amount of Letter of Credit Obligations. If at any time the then outstanding principal balance of Revolving Loans exceeds the Maximum Revolving Loan Balance, then the Borrower shall immediately prepay outstanding Revolving Loans in an amount sufficient to eliminate such excess.

Appears in 1 contract

Samples: Credit Agreement (Entravision Communications Corp)

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The Revolving Credit. (i) Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of the Credit Parties contained herein, each Revolving Lender severally and not jointly agrees to make Loans to any of the Borrower Borrowers (each such Loan, a “Revolving Loan”) from time to time on any Business Day during the period from the Restatement Effective Closing Date through to the Final Availability Revolving Termination Date, in an aggregate amount not to exceed at any time outstanding the amount set forth opposite such Lender’s name in Schedule 1.1(b) under the heading “Revolving Loan CommitmentsCommitment” (such amount as the same may be reduced or increased from time to time as a result of one or more assignments pursuant to Section 9.9 or as a result of a Commitment Increase in accordance with this AgreementSection 1.1(b)(iv), being referred to herein as such Lender’s “Revolving Loan Commitment”); provided, however, that, the Lenders shall be under no obligation after giving effect to fund any requested Borrowing of Revolving Loans to the extent that such requested BorrowingLoans, if funded, would cause the aggregate principal amount of all outstanding Revolving Loans (excluding, solely for purposes of this determination only, Revolving Loans, if any, for which WLR Recovery Fund IV, L.P. has purchased a WLR Participation pursuant to the WLR Last-Out Participation Agreement) shall not exceed the Maximum Revolving Loan Balance. Subject to the other terms and conditions hereof, amounts borrowed under this subsection 1.1(b) may be repaid and reborrowed from time to time. On the Closing Date, the outstanding principal balance of the “Revolving Loans” made under the Original Credit Agreement equals $38,576,628.93, which amount shall remain outstanding Obligations of the Borrowers and shall be deemed to be outstanding Revolving Loans hereunder. The “Maximum Revolving Loan Balance” from time to time will be the lesser of:

Appears in 1 contract

Samples: Credit Agreement (International Textile Group Inc)

The Revolving Credit. Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of the Credit Parties contained herein, each Revolving Lender severally and not jointly agrees to make Loans to the Borrower (each such Loan, a “Revolving Loan”) from time to time on any Business Day during the period from the Restatement Effective Closing Date through the Final Availability Date, in an aggregate amount not to exceed at any time outstanding the amount set forth opposite such Lender’s name in Schedule 1.1(b) under the heading “Revolving Loan Commitments” (such amount amount, as the same may be reduced or increased from time to time in accordance with this AgreementAgreement (including pursuant to Section 1.12), being referred to herein as such Revolving Lender’s “Revolving Loan Commitment”); provided, however, that, the Lenders shall be under no obligation after giving effect to fund any requested Borrowing of Revolving Loans to the extent that such requested BorrowingLoans, if funded, would cause the aggregate principal amount of all outstanding Revolving Loans to shall not exceed the Maximum Revolving Loan Balance. Subject to the other terms and conditions hereof, amounts borrowed under this subsection 1.1(b) may be repaid (without premium or penalty except as, and to the extent, set forth in Section 10.4) and reborrowed from time to time. The “Maximum Revolving Loan Balance” from time to time will equal (i) the Aggregate Revolving Loan Commitment then in effect less (ii) the sum of (I) the aggregate amount of Letter of Credit Obligations plus (II) the aggregate principal amount of outstanding Swing Loans plus (III) the Interest Reserve (after giving effect to any reduction thereof to the extent a requested Revolving Loan shall be utilized to pay interest for which the lesser Interest Reserve has been established). If at any time the then outstanding principal balance of Revolving Loans exceeds the Maximum Revolving Loan Balance, then the Borrower shall immediately prepay outstanding Revolving Loans in an amount sufficient to eliminate such excess. As of the Sixth Amendment Effective Date, the aggregate outstanding principal amount of Revolving Loans (such outstanding Revolving Loans, the “Sixth Amendment Revolving Loans”) is $19,111,569.48 (the “Revolving Loan Cap”) and the aggregate face value of all Letters of Credit (such outstanding Letters of Credit, the “Sixth Amendment LCs”) Issued and outstanding under this Agreement is $2,431,391.00 (the “LC Facility Cap”; the LC Facility Cap together with the Revolving Loan Cap are sometimes referred to herein collectively as the “Revolving Facility Cap”), in each case, as set forth on Schedule 1.1(b). Notwithstanding anything to the contrary set forth in this Section 1.1(b) or anywhere else in the Credit Agreement or any other Loan Document, from and after the Sixth Amendment Effective Date (a) prior to the repayment in full of all revolving loans and other obligations under, and the termination of:, the First Lien Revolving Facility, no further Revolving Loans shall be made or funded or Letters of Credit Issued hereunder (provided, Revolving Loans may be funded solely to pay any L/C Reimbursement Obligations that may arise in respect of Sixth Amendment LCs, whereupon the Revolving Loan Cap shall be deemed to have increased, and the LC Facility Cap reduced, by such amount) and (b) until the Required Leverage Date shall occur, no (i) Letters of Credit shall be Issued if, after giving effect to such Issuance, the aggregate face amount of all Issued and outstanding Letters of Credit shall exceed the LC Facility Cap (provided, the LC Facility Cap shall be increased on the date the First Lien Revolving Facility terminates in accordance with Section 4.19 by an amount equal to the aggregate face amount of all “Letters of Credit” (as defined in the First Lien Revolving Facility), which such aggregate amount shall not in any event exceed $600,000, issued and outstanding as of such date of termination, whereupon all such “Letters of Credit” thereunder shall automatically become and be deemed to constitute Letters of Credit hereunder for all purposes of this Agreement and the other Loan Documents), (ii) Revolving Loans shall be made or funded if, after giving effect to such making or funding, the aggregate outstanding principal amount of Revolving Loans shall exceed the Revolving Loan Cap (except in respect of Revolving Loans funded solely to pay L/C Reimbursement Obligation arising in respect of a Letter of Credit Issued in accordance herewith, whereupon the Revolving Loan Cap shall be deemed to have increased, and the LC Facility Cap reduced, by such amount) and (iii) Revolving Loans shall be made or funded and no Letters of Credit shall be Issued if, after giving effect to such making, funding or Issuance, the sum of (y) aggregate outstanding principal amount of Revolving Loans and (z) all Issued and outstanding Letters of Credit, shall exceed the Revolving Facility Cap. Upon the effectiveness of the First Lien Revolving Facility, each Revolving Lender’s Revolving Loan Commitment hereunder shall be deemed automatically reduced on a dollar for dollar basis by an amount equal to the aggregate principal amount of such Revolving Lender’s commitment in respect of the First Lien Revolving Facility; provided, the aggregate principal amount of the reductions to the Revolving Loan Commitments shall not exceed $8,000,000. The outstanding principal amount of the Sixth Amendment Revolving Loans and the Sixth Amendment LCs shall not be reduced or otherwise modified solely as a result of the reduction of the Revolving Loan Commitments described above. The Sixth Amendment Revolving Loans and Letter of Credit Obligations in respect of Sixth Amendment LCs held by a Revolving Lender are referred to herein collectively as such Revolving Lender’s “Pre-Amendment Revolving Share” and all such Pre-Amendment Revolving Shares are referred to herein collectively as the “Aggregate Pre-Amendment Revolving Amount”, in each case, as such amounts are set forth on Schedule 1.1(b). As a result of the foregoing, until the Commitment Reinstatement Date (as defined below) (i) interest and fees in respect of the Sixth Amendment Revolving Loans and the Sixth Amendment LCs shall accrue for the benefit of each Revolving Lender based on each such Revolving Lender’s Pre-Amendment Revolving Share, (ii) all payments of principal and interest in respect of Sixth Amendment Revolving Loans and Sixth Amendment LCs, shall be paid, allocated and applied to the Aggregate Pre-Amendment Revolving Amount on a pro rata basis based on each Revolving Lender’s Pre-Amendment Revolving Share and (iii) the Unused Commitment Fee accruing and payable to each Revolving Lender shall be calculated based upon such Revolving Lender’s Revolving Loan Commitment after giving effect to the Sixth Amendment and such Revolving Lender’s Pre-Amendment Revolving Share.

Appears in 1 contract

Samples: First Lien Credit Agreement (GSE Holding, Inc.)

The Revolving Credit. Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of the Credit Parties contained herein, each Revolving Lender severally and not jointly agrees to make Loans to the Borrower (each such Loan, a “Revolving Loan”) from time to time on any Business Day during the period from beginning on the Restatement Effective Closing Date through the Final Availability Date, in an aggregate amount not to exceed at any time outstanding the amount set forth opposite such Lender’s name in Schedule 1.1(b) under the heading “Revolving Loan Commitments” (such amount as the same may be reduced or increased from time to time in accordance with this Agreement, being referred to herein as such Lender’s “Revolving Loan Commitment”); provided, however, that, the Lenders shall be under no obligation after giving effect to fund any requested Borrowing of Revolving Loans to the extent that such requested BorrowingLoans, if funded, would cause the aggregate principal amount of all outstanding Revolving Loans to shall not exceed the Maximum Revolving Loan Balance. Subject to the other terms and conditions hereof, amounts borrowed under this subsection 1.1(b) may be repaid and reborrowed from time to time. The “Maximum Revolving Loan Balance” from time to time will be the lesser of:Aggregate Revolving Loan Commitment then in effect, less the sum of (I) the aggregate amount of Letter of Credit Obligations plus (II) the aggregate principal amount of outstanding Swing Loans. If at any time the then outstanding principal balance of Revolving Loans exceeds the Maximum Revolving Loan Balance, then the Borrower shall immediately prepay outstanding Revolving Loans in an amount sufficient to eliminate such excess.

Appears in 1 contract

Samples: Credit Agreement (Papa Murphy's Holdings, Inc.)

The Revolving Credit. Subject to Each Revolving Lender severally agrees, on the terms and conditions of this Agreement and in reliance upon the representations and warranties of the Credit Parties contained set forth herein, each Revolving Lender severally and not jointly agrees to make Loans loans to the Borrower Borrowers (each such Loanloan, a "Revolving Loan") from time to time on any Business Day during the period from the Restatement Effective Date through to the Final Availability Revolving Termination Date, in Dollars and/or one or more Offshore Currencies to the Company and in Offshore Currencies only to any Subsidiary Borrower, in an aggregate amount the Dollar Equivalent of which shall not to exceed at any time outstanding the amount set forth opposite such Lender’s name in on Schedule 1.1(b) under the heading “Revolving Loan Commitments” 2.01 (such amount amount, as the same may be reduced or increased from time to time in accordance with this Agreementunder Section 2.09 or as a result of one or more assignments under Section 11.08, being referred to herein as such the Revolving Lender’s “'s "Revolving Loan Commitment"); provided, however, that, the Lenders shall be under no obligation after giving effect to fund any requested Borrowing of Revolving Loans, the Dollar Equivalent of the Effective Amount of all Revolving Loans to and Swing Line Loans outstanding at such time plus the extent that Dollar Equivalent of the Effective Amount of all L/C Obligations outstanding at such requested Borrowingtime, if funded, would cause plus the aggregate principal amount of all Fronted Offshore Currency Commitments outstanding at such time, shall not at any time exceed the Aggregate Revolving Loan Commitment; provided further, that the Dollar Equivalent of the Effective Amount of the outstanding Revolving Loans to of any Revolving Lender plus the participation of such Revolving Lender in the Dollar Equivalent of the Effective Amount of all L/C Obligations and such Revolving Lender's Pro Rata Revolving Share of any outstanding Swing Line Loans and of the aggregate amount of all Fronted Offshore Currency Commitments shall not at any time exceed such Revolving Lender's Revolving Loan Commitment; and provided further, that the sum of the Dollar Equivalent of the Effective Amount of the outstanding Revolving Loans denominated in an Offshore Currency, plus the aggregate amount of all Fronted Offshore Currency Commitments shall not exceed the Maximum Offshore Currency Sublimit. Within the limits of each Revolving Loan Balance. Subject Lender's Commitment, and subject to the other terms and conditions hereof, amounts borrowed the Borrowers may borrow under this subsection 1.1(b) may be repaid 2.01(b), prepay under Section 2.10 and reborrowed from time to time. The “Maximum Revolving Loan Balance” from time to time will be the lesser of:reborrow under this subsection 2.01(b).

Appears in 1 contract

Samples: Credit Agreement (Oshkosh Truck Corp)

The Revolving Credit. Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of the Credit Parties contained herein, each Revolving Lender severally and not jointly agrees to make Loans to the Borrower (each such Loan, a “Revolving Loan”) from time to time on any Business Day during the period from the Restatement Effective Closing Date through the Final Availability Date, in an aggregate amount not to exceed at any time outstanding such Lender’s Revolving Loan Commitment, which Revolving Loan Commitments, as of the amount Closing Date, are set forth opposite such Lender’s name in Schedule 1.1(b) under the heading “Revolving Loan Commitments” (such amount as the same may be reduced or increased from time to time in accordance with this Agreement, being referred to herein as such Lender’s “Revolving Loan Commitment”); provided, however, that, the Lenders shall be under no obligation after giving effect to fund any requested Borrowing of Revolving Loans to the extent that such requested BorrowingLoans, if funded, would cause the aggregate principal amount of all outstanding Revolving Loans to shall not exceed the Maximum Revolving Loan Balance. Subject to the other terms and conditions hereof, amounts borrowed under this subsection Section 1.1(b) may be repaid and reborrowed from time to time. The “Maximum Revolving Loan Balance” from time to time will be the lesser of:Aggregate Revolving Loan Commitment then in effect; less, in either case, the sum of (I) the aggregate amount of Letter of Credit Obligations plus (II) the aggregate principal amount of outstanding Swing Loans. If at any time the then outstanding principal balance of Revolving Loans exceeds the Maximum Revolving Loan Balance, then the Borrower shall immediately prepay outstanding Revolving Loans in an amount sufficient to eliminate such excess.

Appears in 1 contract

Samples: Credit Agreement (Nobilis Health Corp.)

The Revolving Credit. Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of the Credit Parties contained herein, each Revolving Lender severally and not jointly agrees to make Loans to the Borrower (each such Loan, a “Revolving Loan”) from time to time on any Business Day during the period from the Restatement Effective Closing Date through the Final Availability Date, in an aggregate amount not to exceed at any time outstanding the amount set forth opposite such Lender’s name in Schedule 1.1(b) under the heading “Revolving Loan Commitments” (such amount as the same may be reduced or increased from time to time in accordance with this Agreement, being referred to herein as such Lender’s “Revolving Loan Commitment”); provided, however, that, the Lenders shall be under no obligation after giving effect to fund any requested Borrowing of Revolving Loans to the extent that such requested BorrowingLoans, if funded, would cause the aggregate principal amount of all outstanding Revolving Loans to shall not exceed the Maximum Revolving Loan Balance. Subject to the other terms and conditions hereof, amounts borrowed under this subsection 1.1(b) may be repaid and reborrowed from time to time. The “Maximum Revolving Loan Balance” from time to time will be equal to the lesser of:Aggregate Revolving Loan Commitment then in effect less the sum of (i) the aggregate amount of Letter of Credit Obligations plus (ii) the aggregate principal amount of outstanding Swing Loans. If at any time the then outstanding principal balance of Revolving Loans exceeds the Maximum Revolving Loan Balance, then the Borrower shall immediately prepay outstanding Revolving Loans in an amount sufficient to eliminate such excess.

Appears in 1 contract

Samples: Credit Agreement (Affymetrix Inc)

The Revolving Credit. Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of the Credit Parties contained herein, each Revolving Lender severally and not jointly agrees to make Loans to the Borrower Borrowers (each such Loan, a “Revolving Loan”) from time to time on any Business Day during the period from the Restatement Effective Date through to the Final Availability Revolving Termination Date, in an aggregate amount not to exceed at any time outstanding the amount set forth opposite such Lender’s name in Schedule 1.1(b) 1.1 under the heading “Revolving Loan CommitmentsCommitment” (such amount as the same may be reduced or increased from time to time in accordance with this Agreement, being referred to herein as such Lender’s “Revolving Loan Commitment”); provided, however, that, the Lenders shall be under no obligation after giving effect to fund any requested Borrowing of Revolving Loans to the extent that such requested BorrowingLoans, if funded, would cause the aggregate principal amount of all outstanding Revolving Loans to shall not exceed the Maximum Revolving Loan Balance. Subject to the other terms and conditions hereof, amounts borrowed under this subsection 1.1(b1.1(a) may be repaid and reborrowed from time to time. The “Maximum Revolving Loan Balance” from time to time will be the lesser of:Aggregate Revolving Loan Commitment then in effect, less the sum of (I) the aggregate amount of Letter of Credit Obligations, plus (II) the aggregate principal amount of outstanding Swing Loans. If at any time the then outstanding principal balance of Revolving Loans exceeds the Maximum Revolving Loan Balance, then the Borrowers shall immediately prepay the outstanding Revolving Loans in an amount sufficient to eliminate such excess.

Appears in 1 contract

Samples: Credit Agreement (Cryolife Inc)

The Revolving Credit. All commitments in existence immediately prior to the Fourth Amendment Date to make Revolving Loans are hereby terminated (and the only commitments to make Revolving Loans on and after the Fourth Amendment Date are the Revolving Loan Commitments set forth on Schedule 1.1(b)-Supplement). Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of the Credit Parties contained herein, each Revolving Lender severally and not jointly agrees to make Loans to the Borrower (each such Loan, a “Revolving Loan”) from time to time on any Business Day during the period from the Restatement Effective Fourth Amendment Date through the Final Availability Date, in an aggregate amount not to exceed at any time outstanding the amount set forth opposite such Lender’s name in Schedule 1.1(b) 1.1(b)-Supplement under the heading “Revolving Loan Commitments” (such amount as the same may be reduced or increased from time to time in accordance with this Agreement, being referred to herein as such Lender’s “Revolving Loan Commitment”); provided, however, that, the Lenders shall be under no obligation after giving effect to fund any requested Borrowing of Revolving Loans to the extent that such requested BorrowingLoans, if funded, would cause the aggregate principal amount of all outstanding Revolving Loans to shall not exceed the Maximum Revolving Loan Balance. Subject to the other terms and conditions hereof, amounts borrowed under this subsection 1.1(b) may be repaid and reborrowed from time to time. The “Maximum Revolving Loan Balance” from time to time will be equal to the lesser of:Aggregate Revolving Loan Commitment then in effect less the sum of (i) the aggregate amount of Letter of Credit Obligations plus (ii) the aggregate principal amount of outstanding Swing Loans. If at any time the then outstanding principal balance of Revolving Loans exceeds the Maximum Revolving Loan Balance, then the Borrower shall immediately prepay outstanding Revolving Loans in an amount sufficient to eliminate such excess.”

Appears in 1 contract

Samples: Credit Agreement (Affymetrix Inc)

The Revolving Credit. (i) Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of the Credit Parties contained herein, each Revolving Lender severally and not jointly agrees to make Loans to any of the Borrower Borrowers (each such Loan, a “Revolving Loan”) from time to time on any Business Day during the period from the Restatement Effective Closing Date through to the Final Availability Revolving Termination Date, in an aggregate amount not to exceed at any time outstanding the amount set forth opposite such Lender’s name in Schedule 1.1(b) under the heading “Revolving Loan CommitmentsCommitment” (such amount as the same may be reduced or increased from time to time as a result of one or more assignments pursuant to Section 9.9 or as a result of a Commitment Increase in accordance with this AgreementSection 1.1(b)(iv), being referred to herein as such Lender’s “Revolving Loan Commitment”); provided, however, that, the Lenders shall be under no obligation after giving effect to fund any requested Borrowing of Revolving Loans to the extent that such requested BorrowingLoans, if funded, would cause the aggregate principal amount of all outstanding Revolving Loans to shall not exceed the Maximum Revolving Loan Balance. Subject to the other terms and conditions hereof, amounts borrowed under this subsection 1.1(b) may be repaid and reborrowed from time to time. On the Closing Date, the outstanding principal balance of the “Revolving Loans” made under the Original Credit Agreement equals $38,576,628.93, which amount shall remain outstanding Obligations of the Borrowers and shall be deemed to be outstanding Revolving Loans hereunder. The “Maximum Revolving Loan Balance” from time to time will be the lesser of:

Appears in 1 contract

Samples: Credit Agreement (International Textile Group Inc)

The Revolving Credit. (a) Subject to all of the terms and conditions of this Agreement and in reliance upon hereof, the representations and warranties of the Credit Parties contained herein, each Revolving Lender severally and not jointly Bank agrees to make Loans extend a Revolving Credit to the Borrower (each such Loan, a “Revolving Loan”) Company which may be availed of by the Company in its discretion from time to time on any Business Day time, be repaid and used again, during the period from the Restatement Effective Date through date hereof to and including the Final Availability Revolving Credit Termination Date. The Revolving Credit may be utilized by the Company in the form of loans (individually a "Revolving Credit Loan" and collectively the "Revolving Credit Loans") and L/Cs (as hereinafter defined), in an provided that the aggregate amount of the Revolving Credit Loans and Reimbursement Obligations (as hereinafter defined) and the maximum amount available to be drawn under all L/Cs outstanding at any one time shall not exceed $75,000,000 (the "Revolving Credit Commitment"). Each Revolving Credit Loan shall be in a minimum amount of $100,000 or any greater amount that is an integral multiple of $50,000. All Revolving Credit Loans shall be evidenced by a Revolving Credit Note of the Company (the "Revolving Credit Note") payable to exceed the order of the Bank in the amount of its Revolving Credit Commitment, such Revolving Credit Note to be in the form attached hereto as Exhibit A. Without regard to the face principal amount of the Revolving Credit Note, the actual principal amount at any time outstanding and owing by the amount set forth opposite such Lender’s name in Schedule 1.1(b) under Company on account thereof during the heading “period ending on the Revolving Loan Commitments” (such amount as the same may be reduced or increased from time to time in accordance with this Agreement, being referred to herein as such Lender’s “Revolving Loan Commitment”); provided, however, that, the Lenders Credit Termination Date shall be under no obligation to fund any requested Borrowing of Revolving Loans to the extent that such requested Borrowing, if funded, would cause the aggregate principal amount sum of all outstanding Revolving Loans to exceed the Maximum Revolving Loan Balance. Subject to the other terms and conditions hereof, amounts borrowed under this subsection 1.1(b) may be repaid and reborrowed from time to time. The “Maximum Revolving Loan Balance” from time to time will be the lesser of:advances then or theretofore made thereon less all principal payments actually received thereon during such period.

Appears in 1 contract

Samples: Credit Agreement (Northland Cranberries Inc /Wi/)

The Revolving Credit. Subject to Each Lender severally agrees, on the terms and conditions of this Agreement and in reliance upon the representations and warranties of the Credit Parties contained set forth herein, each Revolving Lender severally and not jointly agrees to make Committed Loans to the Borrower Company (each such Loanor a Borrowing Subsidiary, a “Revolving Loan”if applicable) from time to time on any Business Day during the period from the Restatement Effective Closing Date through to the Final Availability Termination Date, in an aggregate amount not to exceed at any time outstanding the amount set forth opposite such Lender’s name in on Schedule 1.1(b) under the heading “Revolving Loan Commitments” 2.01 (such amount as the same may be increased under Section 2.10 or reduced under Section 2.08 or increased from time to time in accordance with this Agreementchanged as a result of one or more assignments under Section 11.08, being referred to herein as such the Lender’s “Revolving Loan 's "Commitment"); provided, however, that, the aggregate amount of the Commitments of the Lenders shall be under no obligation deemed used from time to fund any requested Borrowing of Revolving Loans time to the extent that of the aggregate amount of the Bid Loans then outstanding and such requested Borrowingdeemed usage of the aggregate amount of the Commitments shall be applied to the Lenders ratably according to their Pro Rata Share. Subject to Section 2.15, if fundedthe aggregate Dollar Equivalent principal amount of all outstanding Committed Loans, would cause together with the aggregate principal amount of all outstanding Revolving Loans to Bid Loans, shall not at any time exceed the Maximum Revolving Loan Balancecombined Commitments. Subject Within the limits of each Lender's Commitment, and subject to the other terms and conditions hereof, amounts borrowed the Company (or any Borrowing Subsidiary, if applicable) may borrow under this subsection 1.1(b) Section 2.01, prepay under Section 2.09 and reborrow under this Section 2.01. Subject to Section 2.03(d), the Committed Loans may be repaid and reborrowed from time to time. The “Maximum Revolving Loan Balance” from time to time will be (i) Base Rate Loans, (ii) Eurodollar Loans, (iii) (subject to the lesser of:limitations set forth herein) Eurocurrency Loans or (iv) a combination thereof, as determined by the Company (or a Borrowing Subsidiary, if applicable) and notified to the U.S. Agent in accordance with Section 2.03, provided that no Committed Loan shall be made as a Eurodollar Loan or a Eurocurrency Loan after the day that is one month prior to the Termination Date.

Appears in 1 contract

Samples: Multicurrency Credit Agreement (Alberto Culver Co)

The Revolving Credit. Subject to Each Bank severally agrees, on the terms and conditions of this Agreement and in reliance upon the representations and warranties of the Credit Parties contained hereinhereinafter set forth, each Revolving Lender severally and not jointly agrees to make Loans in Dollars or an Offshore Currency to the Company, and (subject to compliance with subsection 2.01(b)) in an Offshore Currency to each Additional Borrower (each such Loan, sometimes referred to as a "Revolving Loan" and, collectively, the "Revolving Loans") from time to time on any Business Day during the period from the Restatement Effective Date through the Final Availability DatePeriod, in an aggregate amount (determined in Dollars, including, when applicable, in accordance with the Equivalent Amount of any requested and outstanding Offshore Currency Loans pursuant to subsection 2.05(a)) not to exceed at any time outstanding the Dollar amount set forth opposite such Lender’s Bank's name in Schedule 1.1(b) SCHEDULE 2.01 under the heading “Revolving Loan Commitments” "Commitment" (such amount as the same may be reduced as a result of a reduction in the Commitments pursuant to Section 2.06 or increased from time as a result of any assignment pursuant to time in accordance with this AgreementSection 9.04, being referred to herein as such Lender’s “Revolving Loan Commitment”Bank's "COMMITMENT"); providedPROVIDED, howeverHOWEVER, that, that the Lenders shall be under no obligation to fund any requested Borrowing Effective Amount of all Revolving Loans to PLUS the extent that such requested Borrowing, if funded, would cause the aggregate principal amount Effective Amount of all outstanding L/C Obligations shall not exceed the Total Commitment; PROVIDED FURTHER that the Effective Amount of all Offshore Currency Loans shall not exceed the Offshore Currency Commitment; and PROVIDED FURTHER, that the Effective Amount of the Revolving Loans to of any Bank PLUS the participation of such Bank in the Effective Amount of all L/C Obligations shall not exceed such Bank's Commitment. Revolving Loans may be made in Dollars (in the Maximum Revolving Loan Balancecase of ABR Loans and CD Rate Loans) and in Dollars or Offshore Currencies (in the case of Eurocurrency Loans and Letters of Credit). Subject Within the foregoing limits, and subject to the other terms and conditions hereof, amounts borrowed under this subsection 1.1(b) the Borrowers may be repaid and reborrowed from time to time. The “Maximum Revolving Loan Balance” from time to time will be borrow under this subsection 2.01(a), prepay pursuant to Section 2.07 and reborrow pursuant to this subsection 2.01(a). The Total Commitment on the lesser of:date of this Agreement is $100,000,000 and is allocated among the Banks as set forth in SCHEDULE 2.01.

Appears in 1 contract

Samples: Credit Agreement (Solectron Corp)

The Revolving Credit. Subject to Each Bank severally agrees, on the terms and conditions of this Agreement and in reliance upon the representations and warranties of the Credit Parties contained set forth herein, each Revolving Lender severally and not jointly agrees to make Loans loans to the Borrower (each such Loanloan, a “Revolving Loan”) from time to time on any Business Day during the period from the Restatement Effective Closing Date through to the Final Availability Termination Date, in an aggregate principal amount not to exceed at any time outstanding the amount set forth opposite such LenderBank’s name in on Schedule 1.1(b) under the heading “Revolving Loan Commitments” 2.1 (such amount as the same may be reduced under Section 2.5 or Section 2.7 or reduced or increased from time to time in accordance with this Agreementas a result of one or more assignments under Section 12.9, being referred to herein as such Lenderthe Bank’s “Revolving Loan Commitment”); provided, however, that, the Lenders shall be under no obligation that after giving effect to fund any requested Borrowing of Revolving Loans to Loans, the extent that such requested Borrowing, if funded, would cause the aggregate principal amount Effective Amount of all outstanding Revolving Loans to plus the Effective Amount of all L/C Obligations plus the Effective Amount of all Swing Line Loans shall not exceed the Maximum Revolving Loan BalanceCommitments. Subject Within the limits of each Bank’s Revolving Commitment, and subject to the other terms and conditions hereof, amounts borrowed the Borrower may borrow under this subsection 1.1(b) Section 2.1 (b), prepay under Section 2.6 and reborrow under this Section 2.1(b). As a subfacility of the Banks’ Revolving Commitments, the Borrower may be repaid and reborrowed from time request the Issuing Bank to time. The “Maximum Revolving Loan Balance” Issue Letters of Credit from time to time will be pursuant to Article III. In addition, the lesser of:Borrower may request the Swing Line Bank to make Swing Line Loans to the Borrower from time to time pursuant to Section 2.16.

Appears in 1 contract

Samples: Credit Agreement (Ugi Corp /Pa/)

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