The Revolving Facility. (a) Subject to the provisions of this Agreement, Lender shall make Advances to Borrower under the Revolving Facility from time to time during the Term, unless this Agreement is terminated earlier, provided that, notwithstanding any other provision of this Agreement to the contrary, the aggregate amount of all Advances at any one time outstanding under the Revolving Facility shall not exceed the lesser of (a) the Facility Cap, and (b) the Availability. The Revolving Facility is a revolving credit facility, which may be drawn, repaid and redrawn, from time to time as permitted under this Agreement. Any determination as to whether there is Availability for Advances shall be made by Lender in its Permitted Discretion and is final and binding upon Borrower. Unless otherwise permitted by Lender, each Advance shall be in an amount of at least $1,000. Subject to the provisions of this Agreement, Borrower may request Advances under the Revolving Facility up to and including the value, in Dollars, of the Availability. Advances under the Revolving Facility shall automatically be made for the payment of interest on the Loans and other Obligations on the date when due to the extent available and as provided for herein.
(b) Lender in its Permitted Discretion may further adjust the Availability and the advance rate by applying Liquidity Factors. The Liquidity Factors and the advance rate for Availability may be adjusted by Lender throughout the Term as warranted by Lender’s underwriting practices and procedures in its credit judgment. Also, Lender shall have the right to establish from time to time, in its Permitted Discretion, reserves against the Borrowing Base, which reserves shall have the effect of reducing the amounts otherwise eligible to be advanced to Borrower under the Revolving Facility pursuant to this Agreement. Borrower hereby acknowledges and agrees that as of the Closing Date, Lender shall establish a $250,000 reserve against the Borrowing Base, of Annex I, which reserve shall be eliminated upon the satisfaction by Borrower of the conditions set forth in Section 3 of Annex I for the elimination of the testing of the Minimum Liquidity Covenant set forth in Section 3 of Annex I.
The Revolving Facility. (a) The Revolving Facility may be utilised by way of Letters of Credit.
(b) Other than Clause 5.5 (Limitations on Utilisations), Clause 5 (Utilisation — Loans) does not apply to utilisations by way of Letters of Credit.
The Revolving Facility. The Revolving Facility
2.1 Subject to the terms and conditions of this Agreement, the Lenders shall make available to the Borrowers a revolving credit facility (the “Revolving Facility”) of up to the Maximum Revolving Credit Line. The Revolving Facility (as described in Clause 6 (Utilisation of the Revolving Facility)) shall consist of Revolving Loans (to be denominated in sterling and/or, if agreed between the relevant Borrower and the Agent, dollars, euro or one or more other Foreign Currencies) to be made by the Lenders and, if specifically agreed by the Agent (on the instructions of the Issuer), Letters of Credit and/or Guarantees to be issued by the Issuer (subject to reimbursement by the relevant Borrower and each of the Lenders on the terms set out in this Agreement) and Swingline Loans (to be denominated in sterling and/or dollars, euros or such one or more other Foreign Currencies as may be agreed between the relevant Borrower and the Swingline Lender), to be made by the Swingline Lender (subject to reimbursement by the Lenders on the terms set out in this Agreement) in a maximum aggregate principal Original Sterling Amount not exceeding the Revolving Facility Amount.
The Revolving Facility. All Advances under the Revolving Facility shall be in Canadian Dollars alone and may be repaid and re-borrowed by the Borrower at all times during the Term.
The Revolving Facility. (a) Subject to the terms of this Agreement, the Lenders shall make available a multicurrency revolving credit facility in an aggregate amount the Base Currency Amount of which is equal to the Total Revolving Facility Commitments.
(b) Subject to the terms of this Agreement and the Ancillary Documents, an Ancillary Lender may make available an Ancillary Facility to any of the Borrowers in place of all or part of its Revolving Facility Commitment.
The Revolving Facility. With respect to the Revolving Facility Pool (based on the information contained in the related Monthly Revolving Facility Report), on each Payment Date following the occurrence of a Facility Default, the Administrative Agent will withdraw from the related Collection Account or, if there is no related Collection Account, cause the Servicer to credit, an amount equal to the Collections in respect of the related Collection Period for the Revolving Facility Pool and such Payment Date and apply such amounts, in accordance with the following priorities:
(i) in the manner and in the priorities set forth in Section 10.02(a) through (c);
(ii) to pay any amounts that remain owing and unpaid to any Person under any indemnity or other payment agreement made by the Holder of the Mercedes-Benz Retail Specified Interest Certificate (or by the Servicer acting on its behalf) in connection with the Basic Documents or the transactions contemplated by the Basic Documents; and
(iii) to or at the direction of the Holder of the Mercedes-Benz Retail Specified Interest Certificate, all remaining funds.
The Revolving Facility. The Lenders, individually, and not solidarily (and not jointly and severally), agree to make available to the Borrowers a revolving credit facility (the “Revolving Facility”). The Revolving Facility is comprised of three Tranches; Tranche A which is in an amount of $2,000,000,000 less the Dollar equivalent at any time of £400,000,000 until the reallocation provided in Section 2.6, Tranche B which is in an amount of $750,000,000 and Tranche C which is in an amount of £400,000,000. On the date hereof, the Commitment of each Lender under the Revolving Facility and each tranche thereof is as specified opposite its name in Schedule B and on the signature pages of this Agreement and the collective Commitments of the Lenders with respect to the Revolving Facility expressed in Dollars aggregate to $2,750,000,000.
The Revolving Facility. The Lender agrees, on the terms and conditions set forth in this Agreement, and in particular Section 2.02 and Section 2.03 hereof, to make Advances to the Borrower from time to time on any Business Day during the period commencing on the Effective Date and ending on the Termination Date, in an aggregate amount of Advances outstanding not to exceed at any time the Available Borrowing Amount. Within the foregoing limits and subject to the terms and conditions set forth herein, the Borrower may borrow, repay and re-borrow Advances. The Borrower shall execute and deliver to the Lender a Revolving Line of Credit Promissory Note in the maximum principal amount of the Commitment Amount substantially in the form of Exhibit B hereto (as amended, restated, modified or supplemented from time to time, the “Note”). The Note shall evidence the Borrower’s unconditional obligation to repay the Lender for all Advances made under this Agreement, together with interest as provided herein as well as all other costs and expenses for which the Borrower may be obligated to pay under the Note, this Agreement and the other Loan Documents,. Each Advance under this Agreement shall be deemed evidenced by the Note, which is deemed by this reference to be incorporated herein and made a part hereof.
The Revolving Facility. (a) Subject to the terms of this Agreement, the Lenders make available to the Borrowers a revolving loan facility in an aggregate amount equal to the Revolving Facility.
(b) Subject to the terms of this Agreement and the Ancillary Documents an Ancillary Lender may make all or part of its Revolving Facility Commitment available to any Borrower as an Ancillary Facility.
The Revolving Facility. Subject to the provisions of this Agreement, each Lender agrees to make available its Pro Rata Share of Advances to Borrower under the Revolving Facility from time to time during the Term; provided, that (a) the Pro Rata Share of the Advances of any Lender shall not at any time exceed its separate Commitment, and (b) the aggregate amount of all Advances at any time outstanding under the Revolving Facility shall not exceed the lesser of (i) the Facility Cap and (ii) the then applicable Availability. The obligations of Lenders hereunder shall be several and not joint or joint and several up to the amount of the Commitments. The Revolving Facility is a revolving credit facility, which may be drawn, repaid and redrawn, from time to time as permitted under this Agreement; provided, however, that during the period beginning on December 1st of each calendar year and ending on December 31st of each calendar year, Borrower shall repay in full all Advances and other outstanding Obligations (i.
