The Revolving Credit. Subject to all of the terms and conditions hereof, each Bank, severally and for itself alone, agrees to extend such Bank's Percentage (as reflected on the signatures pages hereto) of a revolving credit facility to the Company which may be availed of by the Company in its discretion from time to time, be repaid and used again, during the period from the date hereof to and including the Revolving Credit Termination Date. The revolving credit facility may be utilized by the Company in the form of (i) revolving credit loans (individually a "Revolving Credit Loan" and collectively the "Revolving Credit Loans") from the Banks according to their respective Percentages, (ii) swing line loans (individually a "Swing Line Loan" and collectively, the "Swing Line Loans") from the Swing Line Lender, pursuant to Section 1.2 hereof, and (iii) L/Cs issued by the Issuer upon request of the Company and in which each Bank shall have purchased a participation, provided that the aggregate amount of the Revolving Credit Loans, Swing Line Loans, Reimbursement Obligations and the maximum amount available to be drawn under all L/Cs outstanding at any one time shall not exceed One Hundred Forty Million Dollars ($140,000,000) (the "Revolving Credit Commitment"). All Revolving Credit Loans shall be evidenced by Revolving Credit Notes of the Company (the "Revolving Credit Notes") payable to the order of each of the Banks in the amounts of their respective Percentages of the Revolving Credit Commitment, such Revolving Credit Notes to be in substantially the form attached hereto as Exhibit 1.1. Without regard to the face principal amounts of each of the Revolving Credit Notes, the actual principal amount at any time outstanding and owing by the Company on account thereof during the period ending on the Revolving Credit Termination Date shall be the sum of all Revolving Credit Loans then or theretofore made thereon less all principal payments actually received thereon during such period.
Appears in 1 contract
Samples: Execution Copy Credit Agreement (Northland Cranberries Inc /Wi/)
The Revolving Credit. Subject to all the terms and conditions set forth herein, each Lender with a Revolving Loan Commitment severally and not jointly agrees to make loans (each such loan, a “Revolving Loan”) to the Borrowers from time to time, on any Business Day during the Availability Period, in an aggregate amount not to exceed at any time outstanding the amount set forth opposite such Lender’s name in Section 2.01 under the heading “Revolving Loan Commitment” (such amount being referred to herein as such Lender’s “Revolving Loan Commitment”); provided, however, that after giving effect to any Borrowing of Revolving Loans, (i) the Total Revolving Loans Outstanding shall not exceed the lesser of (A) the Borrowing Base and (B) the Aggregate Revolving Loan Commitment, and (ii) the aggregate Outstanding Amount of Revolving Loans of any Lender shall not exceed such Lender’s Revolving Loan Commitment. Within the limits of each Lender’s Revolving Loan Commitment and subject to the other terms and conditions hereof, each Bankthe Borrowers may borrow under this Section 2.01(c), severally and for itself alone, agrees to extend such Bank's Percentage (as reflected on the signatures pages hereto) of a revolving credit facility to the Company which may be availed of by the Company in its discretion from time to time, be repaid and used again, during the period from the date hereof to and including the Revolving Credit Termination Date. The revolving credit facility may be utilized by the Company in the form of (i) revolving credit loans (individually a "Revolving Credit Loan" and collectively the "Revolving Credit Loans") from the Banks according to their respective Percentages, (ii) swing line loans (individually a "Swing Line Loan" and collectively, the "Swing Line Loans") from the Swing Line Lender, pursuant to prepay under Section 1.2 hereof2.03, and (iii) L/Cs issued by the Issuer upon request of the Company and in which each Bank shall have purchased a participation, provided that the aggregate amount of the Revolving Credit Loans, Swing Line Loans, Reimbursement Obligations and the maximum amount available to be drawn reborrow under all L/Cs outstanding at any one time shall not exceed One Hundred Forty Million Dollars ($140,000,000) (the "Revolving Credit Commitment"this Section 2.01(c). All Revolving Credit Loans shall be evidenced by Revolving Credit Notes of the Company (the "Revolving Credit Notes") payable to the order of each of the Banks in the amounts of their respective Percentages of the Revolving Credit Commitment, such Revolving Credit Notes to be in substantially the form attached hereto as Exhibit 1.1. Without regard to the face principal amounts of each of the Revolving Credit Notes, the actual principal amount at any time outstanding and owing by the Company on account thereof during the period ending on the Revolving Credit Termination Date shall be the sum of all Revolving Credit Loans then or theretofore made thereon less all principal payments actually received thereon during such period.
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The Revolving Credit. Subject On the terms and subject to the conditions of this Agreement, each Revolving Lender severally agrees to advance to Holdings from time to time during the period beginning on the Effective Date and ending on the Revolving Loan Maturity Date such loans (each such loan, a “Revolving Loan”) in Dollars as Holdings may request under this Section 2.01(b); provided, however, that (i) after giving effect to any Borrowing of Revolving Loans, (A) the Effective Amount of all Revolving Loans and Swingline Loans and the Effective Amount of all L/C Obligations shall not exceed the combined Revolving Commitments of the Revolving Lenders 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 in the Effective Amount of all Swingline Loans shall not at any time exceed such Revolving Lender’s Revolving Commitment. Within the limits of each Revolving Lender’s Revolving Commitment, and subject to the other terms and conditions hereof, Holdings may borrow under this Section 2.01(b), prepay under Section 2.07 and reborrow under this Section 2.01(b). On the Effective Date, the amount of Revolving Loans then outstanding and held by each Bank, severally and Revolving Lender (which for itself alone, agrees purposes of this Section 2.01(b) shall include each Departing Revolving Lender) shall be adjusted to extend such Bank's Percentage (as reflected on reflect the signatures pages hereto) of a revolving credit facility to the Company which may be availed of by the Company changes in its discretion from time to time, be repaid and used again, during the period from the date hereof to and including the Revolving Credit Termination Date. The revolving credit facility may be utilized by the Company in the form of (i) revolving credit loans (individually a "Lenders’ Revolving Credit Loan" and collectively the "Revolving Credit Loans") from the Banks according to their respective PercentagesProportionate Shares, (ii) swing line loans (individually a "Swing Line Loan" and collectively, the "Swing Line Loans") from the Swing Line Lender, pursuant subject to Section 1.2 hereof4.04. Each Revolving Lender having Revolving Loans, and (iii) or participations in L/Cs issued by the Issuer upon request of the Company and in which each Bank shall have purchased a participation, provided that the aggregate amount of the Revolving Credit C Obligations or Swingline Loans, Swing Line Loans, Reimbursement Obligations and the maximum amount available to be drawn under all L/Cs outstanding at any one time shall not exceed One Hundred Forty Million Dollars ($140,000,000) (the "Revolving Credit Commitment"). All Revolving Credit Loans shall be evidenced by Revolving Credit Notes of the Company (the "Revolving Credit Notes") payable to the order of each of the Banks in the amounts of their respective Percentages of the Revolving Credit Commitment, such Revolving Credit Notes to be in substantially the form attached hereto as Exhibit 1.1. Without regard to the face principal amounts of each of the Revolving Credit Notes, the actual principal amount at any time outstanding and owing by the Company on account thereof during the period ending on the Revolving Credit Termination Date shall be the sum of all Revolving Credit Loans then or theretofore made thereon less all principal payments actually received thereon during such period.then
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The Revolving Credit. (a) Subject to all of the terms and conditions hereofof this Agreement and so long as there exists no Default, at any time prior to the Revolving Credit Termination Date, each BankLender, severally and for itself alonenot jointly, agrees to extend shall make such Bank's Percentage (as reflected on the signatures pages hereto) of a revolving credit facility Revolving Credit Advances to the Company which Borrower as the Borrower may be availed of by the Company in its discretion from time to timetime request, by notice to the Agent in accordance with Section 2.2, in an aggregate amount (i) as to each Lender, not to exceed at any time such Lender's Commitment Percentage of the Maximum Revolving Credit Amount, and (ii) as to all Lenders, not to exceed the Maximum Revolving Credit Amount; provided, however, that at no time shall any Lender make a Revolving Credit Advance to any Borrower if, after giving effect to such Revolving Credit Advance, the aggregate amount of Revolving Credit Advances made to the Borrowers exceeds the Borrowing Base. The outstanding principal amount of the Revolving Credit Advances, together with all accrued interest and other fees and charges related thereto, shall be repaid and used again, during the period from the date hereof to and including in full on the Revolving Credit Termination Date. The revolving credit facility may be utilized by On the Company in Closing Date the form of (i) revolving credit loans (individually Borrower shall execute and deliver to each Lender a "Revolving Credit Loan" and collectively Note to evidence the "Revolving Credit Loans") Advances from time to time made by such Lender to the Banks according Borrower hereunder. Subject to their respective Percentages, (ii) swing line loans (individually a "Swing Line Loan" the foregoing limitations and collectivelythe provisions of Section 4.2, the "Swing Line Loans") from the Swing Line Lender, pursuant to Section 1.2 hereof, and (iii) L/Cs issued by the Issuer upon request of the Company and in which each Bank Borrower shall have purchased a participationthe right to make prepayments reducing the outstanding balance of Revolving Credit Advances and to request further Revolving Credit Advances, all in accordance with Section 2.2, without other restrictions hereunder; provided that the aggregate amount of Lenders shall have the absolute right to refuse to make any Revolving Credit Loans, Swing Line Loans, Reimbursement Obligations and Advances for so long as there exists any Default or any other condition which would constitute a Default upon the maximum amount available to be drawn under all L/Cs outstanding at any one time shall not exceed One Hundred Forty Million Dollars ($140,000,000) (the "making of such a Revolving Credit Commitment"). All Revolving Credit Loans shall be evidenced by Revolving Credit Notes of the Company (the "Revolving Credit Notes") payable to the order of each of the Banks in the amounts of their respective Percentages of the Revolving Credit Commitment, such Revolving Credit Notes to be in substantially the form attached hereto as Exhibit 1.1. Without regard to the face principal amounts of each of the Revolving Credit Notes, the actual principal amount at any time outstanding and owing by the Company on account thereof during the period ending on the Revolving Credit Termination Date shall be the sum of all Revolving Credit Loans then or theretofore made thereon less all principal payments actually received thereon during such periodAdvance.
Appears in 1 contract
Samples: Credit Agreement (Boston Celtics Limited Partnership Ii /De/)
The Revolving Credit. Subject to all of Each Revolving Credit Lender severally agrees, on the terms and conditions hereofset forth herein, each Bank, severally and for itself alone, agrees to extend such Bank's Percentage (as reflected on the signatures pages hereto) of a revolving credit facility make loans to the Company which may be availed of by the Company in its discretion Borrower (each such loan, a "Revolving Credit Loan") from time to time, be repaid and used again, time on any Business Day during the period from the date hereof Closing Date to and including the Revolving Termination Date, in the amounts requested from time to time by the Borrower in an aggregate amount not to exceed at any time outstanding the amount set forth opposite the Revolving Credit Termination Date. The revolving credit facility may be utilized by Lender's name under the Company in the form of (i) revolving credit loans (individually a heading "Revolving Credit LoanCommitment" and collectively on Schedule 2.1 (such amount, as the "Revolving Credit Loans") from the Banks according to their respective Percentagessame may be reduced under Section 2.5 or as a result of one or more assignments under Section 11.8, (ii) swing line loans (individually a "Swing Line Loan" and collectively, the "Swing Line Loans") from the Swing Line Lender, pursuant to Section 1.2 hereof, and (iii) L/Cs issued by the Issuer upon request of the Company and in which each Bank shall have purchased a participation, provided that the aggregate amount of the Revolving Credit Loans, Swing Line Loans, Reimbursement Obligations and the maximum amount available to be drawn under all L/Cs outstanding at any one time shall not exceed One Hundred Forty Million Dollars ($140,000,000) (the Lender's "Revolving Credit Commitment"). All ; provided, however, that, after giving effect to any Borrowing of Revolving Credit Loans shall be evidenced by Loans, the Effective Amount of all outstanding Revolving Credit Notes of Loans, Swingline Loans and L/C Obligations shall not at any time exceed the Company (the "combined Revolving Credit Notes") payable to Commitments; and provided, further, that the order of each of the Banks in the amounts of their respective Percentages Effective Amount of the Revolving Credit Commitment, Loans of such Revolving Credit Notes to be in substantially Lender plus the form attached hereto as Exhibit 1.1. Without regard to the face principal amounts participation of each of the such Revolving Credit Notes, Lender in the actual principal amount Effective Amount of all L/C Obligations and Swingline Loans shall not at any time outstanding and owing by the Company on account thereof during the period ending on the exceed such Revolving Credit Termination Date shall be the sum of all Lender's Revolving Credit Loans then or theretofore made thereon less all principal payments actually received thereon during such periodCommitment. Within the limits of each Revolving Credit Lender's Revolving Credit Commitment, and subject to the other terms and conditions hereof, the Borrower may borrow under this subsection 2.1(b), prepay under Section 2.6 and reborrow under this subsection 2.1(b).
Appears in 1 contract
The Revolving Credit. Subject to all 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 Borrowers (each such Loan and each Incremental Revolving Loan (if any), a “Revolving Loan”) from time to time on any Business Day during the period from the 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 Closing Date, are set forth opposite such Lender’s name in Schedule 2.1(b) under the heading “Revolving Loan Commitments”; provided, however, that, after giving effect to any Borrowing of Revolving Loans, the aggregate principal amount of all outstanding Revolving Loans shall not exceed the Maximum Revolving Loan Balance. Subject to the other terms and conditions hereof, each Bank, severally and for itself alone, agrees to extend such Bank's Percentage (as reflected on the signatures pages heretoamounts borrowed under this Section 2.1(b) of a revolving credit facility to the Company which may be availed of by the Company in its discretion repaid and reborrowed from time to time, be repaid and used again, during the period from the date hereof to and including the Revolving Credit Termination Date. The revolving credit facility may “Maximum Revolving Loan Balance” from time to time will be utilized by the Company Aggregate Revolving Loan Commitment then in effect, less the form sum of (iI) revolving credit loans (individually a "Revolving Credit Loan" and collectively the "Revolving Credit Loans") from the Banks according to their respective Percentages, (ii) swing line loans (individually a "Swing Line Loan" and collectively, the "Swing Line Loans") from the Swing Line Lender, pursuant to Section 1.2 hereof, and (iii) L/Cs issued by the Issuer upon request of the Company and in which each Bank shall have purchased a participation, provided that the aggregate amount of Letter of Credit Obligations plus (II) the Revolving Credit Loans, Swing Line Loans, Reimbursement Obligations and the maximum amount available to be drawn under all L/Cs outstanding at any one time shall not exceed One Hundred Forty Million Dollars ($140,000,000) (the "Revolving Credit Commitment"). All Revolving Credit Loans shall be evidenced by Revolving Credit Notes of the Company (the "Revolving Credit Notes") payable to the order of each of the Banks in the amounts of their respective Percentages of the Revolving Credit Commitment, such Revolving Credit Notes to be in substantially the form attached hereto as Exhibit 1.1. Without regard to the face principal amounts of each of the Revolving Credit Notes, the actual aggregate principal amount of outstanding Swing Loans. If at any time the then outstanding and owing by principal balance of Revolving Loans exceeds the Company on account thereof during Maximum Revolving Loan Balance, then the period ending on Borrowers shall immediately prepay the outstanding Revolving Credit Termination Date shall be the sum of all Revolving Credit Loans then or theretofore made thereon less all principal payments actually received thereon during in an amount sufficient to eliminate such periodexcess.
Appears in 1 contract
Samples: Credit Agreement (Cryolife Inc)
The Revolving Credit. Subject Each Bank severally agrees, on the terms and conditions set forth herein, to make loans to the Company (each such loan, a "REVOLVING LOAN") from time to time on any Business Day during the period from the Special Funding Date to the Revolving Termination Date, in an aggregate amount not to exceed at any time outstanding the amount set forth on SCHEDULE 2.01 (such amount, as the same may be reduced under SECTION 2.07, or as a result of one or more assignments under SECTION 10.08, the Bank's "REVOLVING LOAN COMMITMENT"); PROVIDED, HOWEVER, that, after giving effect to any Borrowing of Revolving Loans (exclusive of Revolving Loans which are repaid with the proceeds of, and simultaneously with the incurrence of, the respective incurrence of Revolving Loans), the Effective Amount of all outstanding Revolving Loans, the Effective Amount of all Swing Line Loans and the Effective Amount of all L/C Obligations, shall not at any time exceed an amount equal to the combined Revolving Loan Commitments; AND PROVIDED FURTHER, that the Effective Amount of the Revolving Loans of any Bank plus the participation of such Bank in the Effective Amount of all Swing Line Loans and the Effective Amount of all L/C Obligations shall not at any time exceed an amount equal to such Bank's Revolving Loan Commitment. Within the limits of each Bank's Revolving Loan Commitment, and subject to the other terms and conditions hereof, each Bank, severally and for itself alone, agrees to extend such Bank's Percentage (as reflected on the signatures pages hereto) of a revolving credit facility to the Company which may be availed of by the Company in its discretion from time to timeborrow under this SECTION 2.01(b), be repaid prepay under SECTION 2.08 and used again, during the period from the date hereof to and including the Revolving Credit Termination Date. The revolving credit facility may be utilized by the Company in the form of (i) revolving credit loans (individually a "Revolving Credit Loan" and collectively the "Revolving Credit Loans") from the Banks according to their respective Percentages, (ii) swing line loans (individually a "Swing Line Loan" and collectively, the "Swing Line Loans") from the Swing Line Lender, pursuant to Section 1.2 hereof, and (iii) L/Cs issued by the Issuer upon request of the Company and in which each Bank shall have purchased a participation, provided that the aggregate amount of the Revolving Credit Loans, Swing Line Loans, Reimbursement Obligations and the maximum amount available to be drawn reborrow under all L/Cs outstanding at any one time shall not exceed One Hundred Forty Million Dollars ($140,000,000) (the "Revolving Credit Commitment"this SECTION 2.01(b). All Revolving Credit Loans shall be evidenced by Revolving Credit Notes of the Company (the "Revolving Credit Notes") payable to the order of each of the Banks in the amounts of their respective Percentages of the Revolving Credit Commitment, such Revolving Credit Notes to be in substantially the form attached hereto as Exhibit 1.1. Without regard to the face principal amounts of each of the Revolving Credit Notes, the actual principal amount at any time outstanding and owing by the Company on account thereof during the period ending on the Revolving Credit Termination Date shall be the sum of all Revolving Credit Loans then or theretofore made thereon less all principal payments actually received thereon during such period.
Appears in 1 contract
Samples: Credit Agreement (Waterlink Inc)
The Revolving Credit. Subject On the terms and subject to the conditions of this Agreement, each Revolving Lender severally agrees to advance to Holdings from time to time during the period beginning on the Effective Date and ending on the Revolving Loan Maturity Date such loans (each such loan, a “Revolving Loan”) in Dollars as Holdings may request under this Section 2.01(c); provided, however, that (i) after giving effect to any Borrowing of Revolving Loans, (A) the Effective Amount of all Revolving Loans and Swingline Loans and the Effective Amount of all L/C Obligations shall not exceed the combined Revolving Commitments of the Revolving Lenders 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 in the Effective Amount of all Swingline Loans shall not at any time exceed such Revolving Lender’s Revolving Commitment. Within the limits of each Revolving Lender’s Revolving Commitment, and subject to the other terms and conditions hereof, Holdings may borrow under this Section 2.01(c), prepay under Section 2.07 and reborrow under this Section 2.01(c). On the Effective Date, the amount of Revolving Loans then outstanding and held by each Bank, severally and Revolving Lender (which for itself alone, agrees purposes of this Section 2.01(c) shall include each Departing Revolving Lender) shall be adjusted to extend such Bank's Percentage (as reflected on reflect the signatures pages hereto) of a revolving credit facility to the Company which may be availed of by the Company changes in its discretion from time to time, be repaid and used again, during the period from the date hereof to and including the Revolving Credit Termination Date. The revolving credit facility may be utilized by the Company in the form of (i) revolving credit loans (individually a "Lenders’ Revolving Credit Loan" and collectively the "Revolving Credit Loans") from the Banks according to their respective PercentagesProportionate Shares, (ii) swing line loans (individually a "Swing Line Loan" and collectively, the "Swing Line Loans") from the Swing Line Lender, pursuant subject to Section 1.2 hereof4.04. Each Revolving Lender having Revolving Loans, and (iii) or participations in L/Cs issued by the Issuer upon request of the Company and in which each Bank shall have purchased a participation, provided that the aggregate amount of the Revolving Credit Loans, C Obligations or Swing Line Loans, Reimbursement Obligations then outstanding and whose Revolving Proportionate Share has been decreased on the Effective Date shall be deemed to have assigned on the Effective Date, without recourse, to each Revolving Lender increasing its Revolving Proportionate Share on the Effective Date (which for purposes of this Section 2.01(c) shall include each New Revolving Lender) such portion of such Revolving Loans and participations as shall be necessary to effectuate such adjustment. Each Revolving Lender increasing its Revolving Proportionate Share on the Effective Date shall (i) be deemed to have assumed such portion of such Revolving Loans and participations and (ii) fund on the Effective Date such assumed amounts to the Administrative Agent for the account of the assigning Revolving Lender in accordance with the provisions hereof in the amount notified to such increasing Revolving Lender by the Administrative Agent. For purposes of this Section 2.01(c), each Departing Revolving Lender shall be deemed to have reduced its Revolving Proportionate Share to zero on the Effective Date. From and after the Effective Date, after giving effect to the assignments and assumptions contemplated in this Section 2.01(c), each Departing Revolving Lender shall cease to be a “Revolving Lender” under and for all purposes of this Agreement and the maximum amount available other Loan Documents and shall have no further obligation to make Revolving Loans or participate in Letters of Credit or Swingline Loans; provided, however, that each Departing Revolving Lender shall continue to be drawn under all L/Cs outstanding at any one time shall not exceed One Hundred Forty Million Dollars ($140,000,000) (entitled to the "benefits of Sections 4.01, 4.03, 4.04, 11.04 and 11.05 to the extent accrued or arising on or prior to the Effective Date. With effect on and after the Effective Date, each New Revolving Credit Commitment"). All Revolving Credit Loans Lender shall be evidenced by Revolving Credit Notes a party to this Agreement and succeed to all of the Company (the "Revolving Credit Notes") payable rights and be obligated to the order of each perform all of the Banks obligations of a Revolving Lender under this Agreement, including the requirements concerning confidentiality and the payment of indemnification, with a Revolving Commitment in the amounts of set forth on Schedule 2.01(c). Each New Revolving Lender agrees that it will perform in accordance with their respective Percentages terms all of the Revolving Credit Commitment, such Revolving Credit Notes obligations which by the terms of this Agreement are required to be in substantially the form attached hereto performed by it as Exhibit 1.1. Without regard to the face principal amounts of each of the a Revolving Credit Notes, the actual principal amount at any time outstanding and owing by the Company on account thereof during the period ending on the Revolving Credit Termination Date shall be the sum of all Revolving Credit Loans then or theretofore made thereon less all principal payments actually received thereon during such periodLender.
Appears in 1 contract
The Revolving Credit. Subject Each Revolving Lender severally agrees, on the terms and conditions set forth herein, to make loans to the Company (each such loan, a "REVOLVING LOAN") from time to time on any Business Day during the period from the Closing Date to the Revolving Loan Termination Date, in an aggregate amount not to exceed at any time outstanding the amount set forth on SCHEDULE 2.01 (such amount, as the same may be reduced under SECTION 2.07 or as a result of one or more assignments under SECTION 11.08, the Revolving Lender's "REVOLVING LOAN COMMITMENT"); PROVIDED, HOWEVER, that, after giving effect to any Borrowing of Revolving Loans, the Effective Amount of all outstanding Revolving Loans, together with Swing Line Loans outstanding at such time and the Effective Amount of all L/C Obligations, shall not at any time exceed the lesser of (i) the Aggregate Revolving Loan Commitment or (ii) the Borrowing Base; AND PROVIDED FURTHER, that 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 plus such Revolving Lender's Pro Rata Revolving Share of any outstanding Swing Line Loans shall not at any time exceed such Revolving Lender's Revolving Loan Commitment. Within the limits of each Revolving Lender's Commitment, and subject to the other terms and conditions hereof, each Bank, severally and for itself alone, agrees to extend such Bank's Percentage (as reflected on the signatures pages hereto) of a revolving credit facility to the Company which may be availed of by the Company in its discretion from time to timeborrow under this SUBSECTION 2.01(b), be repaid prepay under SECTION 2.08 and used again, during the period from the date hereof to and including the Revolving Credit Termination Date. The revolving credit facility may be utilized by the Company in the form of (i) revolving credit loans (individually a "Revolving Credit Loan" and collectively the "Revolving Credit Loans") from the Banks according to their respective Percentages, (ii) swing line loans (individually a "Swing Line Loan" and collectively, the "Swing Line Loans") from the Swing Line Lender, pursuant to Section 1.2 hereof, and (iii) L/Cs issued by the Issuer upon request of the Company and in which each Bank shall have purchased a participation, provided that the aggregate amount of the Revolving Credit Loans, Swing Line Loans, Reimbursement Obligations and the maximum amount available to be drawn reborrow under all L/Cs outstanding at any one time shall not exceed One Hundred Forty Million Dollars ($140,000,000) (the "Revolving Credit Commitment"this SUBSECTION 2.01(b). All Revolving Credit Loans shall be evidenced by Revolving Credit Notes of the Company (the "Revolving Credit Notes") payable to the order of each of the Banks in the amounts of their respective Percentages of the Revolving Credit Commitment, such Revolving Credit Notes to be in substantially the form attached hereto as Exhibit 1.1. Without regard to the face principal amounts of each of the Revolving Credit Notes, the actual principal amount at any time outstanding and owing by the Company on account thereof during the period ending on the Revolving Credit Termination Date shall be the sum of all Revolving Credit Loans then or theretofore made thereon less all principal payments actually received thereon during such period.
Appears in 1 contract
