Common use of Tranche A Advances Clause in Contracts

Tranche A Advances. (a) Subject to the terms and conditions of this Agreement, and during the term of this Agreement, each Lender with a Tranche A Commitment agrees to make advances ("Tranche A Advances") to Borrowers in an amount at any one time outstanding not to exceed such Lender's Pro Rata Share of an amount equal to the lowest of (i) the Maximum Tranche A Amount less the then extant Letter of Credit Usage, (ii) the Borrowing Base less the then extant Letter of Credit Usage, or (iii) $50,000,000. (b) Anything to the contrary in this Section 2.1 notwithstanding, Agent shall have the right to establish reserves in such amounts, and with respect to such matters, as Agent in its Permitted Discretion shall deem necessary or appropriate, against the Borrowing Base, including reserves with respect to (i) sums that Borrowers are required to pay (such as taxes, assessments, insurance premiums, or, in the case of leased assets, rents or other amounts payable under such leases) and have failed to pay under any Section of this Agreement or any other Loan Document, and (ii) amounts owing by Borrowers to any Person to the extent secured by a Lien (other than any existing Permitted Lien set forth on Schedule P-3 which is specifically identified thereon as entitled to have priority over Collateral Agent's Liens) on, or trust over, any of the Collateral, which Lien or trust, in the Permitted Discretion of Agent, would be likely to have a priority superior to the Liens of Agent, for the benefit of the Lender Group (such as landlord liens, ad valorem taxes, property taxes, or sales taxes where given priority under applicable law) in and to such item of the Collateral. (c) The Lenders with Tranche A Commitments shall have no obligation to make additional Tranche A Advances hereunder to the extent such additional Tranche A Advances would cause the Tranche A Usage and the Tranche B Usage to exceed the Maximum Facility Amount. (d) Anything in the Loan Documents to the contrary notwithstanding, the proceeds of any Tranche A Advance shall not be used to repay any outstanding Tranche B Advance unless Tranche A Advance Availability is greater than $7,500,000 after giving effect to such Tranche A Advance. (e) Amounts borrowed pursuant to this Section may be repaid and, subject to the terms and conditions of this Agreement, reborrowed at any time during the term of this Agreement.

Tranche A Advances. (a1) Subject to the terms and conditions provisions of this Agreement, and during the term of this Agreement, each Lender with a Tranche A Commitment agrees Advances will be made by the Lending Banks to make advances the Borrower at its request if the following additional conditions are fulfilled:- ("a) not later than 10 a.m. on the fourth Business Day before the proposed date of the relevant Tranche A Advances") to Borrowers in an amount at any one Advance (or, as the case may be, such later time outstanding not to exceed such Lender's Pro Rata Share of an amount equal as may be acceptable to the lowest Agent and the Lending Banks for the purpose of the relevant request), the Agent has received from the Borrower a notice substantially in the form set out in Schedule 5 specifying:- (i) the Maximum proposed date of that Tranche A Amount less Advance, which must be a Business Day falling on or before the then extant Letter of Credit Usage, Commitment Termination Date relating to the Tranche A Term Commitments; (ii) the Borrowing Base amount of that Tranche A Advance, which must be equal to or less than the then extant Letter Available Tranche A Facility and, if less than the Available Tranche A Facility, must be US$5,000,000 or a higher integral multiple of Credit Usage, or US$1,000,000; (iii) $50,000,000.the duration of the first Interest Period relating to that Tranche A Advance, which must be in accordance with Clause 9(A); and (iv) details of the bank (which must be in New York City) and account to which the Borrower wishes the proceeds of that Tranche A Advance to be made available by the Agent; (b) Anything none of the events mentioned in Clause 12(C)(1) occurs in relation to the contrary in this Section 2.1 notwithstanding, Agent shall have the right to establish reserves in such amounts, and with respect to such matters, as Agent in its Permitted Discretion shall deem necessary or appropriate, against the Borrowing Base, including reserves with respect to (i) sums first Interest Period for that Borrowers are required to pay (such as taxes, assessments, insurance premiums, or, in the case of leased assets, rents or other amounts payable under such leases) and have failed to pay under any Section of this Agreement or any other Loan Document, and (ii) amounts owing by Borrowers to any Person to the extent secured by a Lien (other than any existing Permitted Lien set forth on Schedule P-3 which is specifically identified thereon as entitled to have priority over Collateral Agent's Liens) on, or trust over, any of the Collateral, which Lien or trust, in the Permitted Discretion of Agent, would be likely to have a priority superior to the Liens of Agent, for the benefit of the Lender Group (such as landlord liens, ad valorem taxes, property taxes, or sales taxes where given priority under applicable law) in and to such item of the Collateral.Tranche A Advance; (c) The Lenders all representations and warranties in Clause 14 (except to any extent waived in accordance with Clause 26(B)) have been complied with and would be correct in all material respects if repeated on the proposed date of that Tranche A Commitments shall have no obligation to make additional Tranche A Advances hereunder Advance by reference to the extent such additional Tranche A Advances would cause the Tranche A Usage and the Tranche B Usage to exceed the Maximum Facility Amount.circumstances then existing; (d) Anything in no Event of Default or Potential Event of Default has occurred on or before the Loan Documents to the contrary notwithstanding, the proceeds proposed date of any that Tranche A Advance shall not be used to repay any outstanding Tranche B Advance unless Tranche A Advance Availability and is greater than $7,500,000 after giving effect to such continuing, or will occur as a result of making that Tranche A Advance., other than any waived in accordance with Clause 26(B); and (e) Amounts borrowed pursuant not later than 10 a.m. on the proposed date of that Tranche A Advance, the Agent has received and found satisfactory such additional information, legal opinions and/or other documents relevant in the context of or relating to this Section any of the Financing Documents as it may be repaid and, subject reasonably request not later than 10 21 18 a. m. on the second Business Day before the proposed date of that Tranche A Advance as a result of circumstances which have arisen or come to its attention since the terms and conditions of this Agreement, reborrowed at any time during the term date of this Agreement.

Tranche A Advances. (a) Subject to Each Lender severally agrees, on the terms and conditions of this Agreementhereinafter set forth, and to make Tranche A Advances to each Borrower from time to time on any Business Day during the term of this Agreement, each period from the Closing Date until the Termination Date applicable to such Lender with a Tranche A Commitment agrees to make advances ("Tranche A Advances") to Borrowers in an aggregate amount at (based in respect of any one time outstanding Advances to be denominated in any Optional Currency other than Dollars by reference to the Equivalent thereof in Dollars determined on the date of delivery of the applicable Notice of Revolving Credit Borrowing) not to exceed such Lender's Pro Rata Share ’s Unused Tranche A Commitment; provided that, if P&G shall so notify the Agent in accordance with Section 2.20(a) that any Commitment Increase in respect of the Tranche A Facility shall not apply to any Borrower, the aggregate outstanding principal amount of Tranche A Advances made to such Borrower shall not exceed the amount of the Tranche A Facility immediately prior to the applicable Commitment Increase in respect of the Tranche A Facility. Each such Borrowing shall be in a minimum amount of $10,000,000, in respect of Tranche A Advances denominated in Dollars (or the Equivalent in any other applicable Optional Currency thereof), or, if less, an aggregate amount equal to the lowest amount by which the aggregate amount of (i) a proposed Competitive Bid Borrowing requested by any Borrower exceeds the Maximum aggregate amount of Competitive Bid Advances offered to be made by the Lenders and accepted by such Borrower in respect of such Competitive Bid Borrowing, if such Competitive Bid Borrowing is made on the same date as such Tranche A Amount less Borrowing) and shall consist of Tranche A Advances of the then extant Letter of Credit Usage, (ii) same Type made on the Borrowing Base less same day by the then extant Letter of Credit Usage, or (iii) $50,000,000. (b) Anything Lenders ratably according to the contrary in this Section 2.1 notwithstanding, Agent their respective Tranche A Commitments; provided that such minimum amount shall have the right to establish reserves in such amounts, and not apply with respect to such matters, as Agent any Revolving Credit Advances made in its Permitted Discretion shall deem necessary accordance with the provisions of Sections 2.04(b) or appropriate, against 2.07(c). Within the Borrowing Base, including reserves with respect to (i) sums that Borrowers are required to pay (such as taxes, assessments, insurance premiums, or, in the case limits of leased assets, rents or other amounts payable under such leases) and have failed to pay under any Section of this Agreement or any other Loan Document, and (ii) amounts owing by Borrowers to any Person to the extent secured by a Lien (other than any existing Permitted Lien set forth on Schedule P-3 which is specifically identified thereon as entitled to have priority over Collateral Agent's Liens) on, or trust over, any of the Collateral, which Lien or trust, in the Permitted Discretion of Agent, would be likely to have a priority superior to the Liens of Agent, for the benefit of the Lender Group (such as landlord liens, ad valorem taxes, property taxes, or sales taxes where given priority under applicable law) in and to such item of the Collateral. (c) The Lenders with each Lender’s Tranche A Commitments shall have no obligation to make additional Tranche A Advances hereunder to the extent such additional Tranche A Advances would cause the Tranche A Usage and the Tranche B Usage to exceed the Maximum Facility Amount. (d) Anything in the Loan Documents to the contrary notwithstandingCommitment, the proceeds of any Tranche A Advance shall not be used to repay any outstanding Tranche B Advance unless Tranche A Advance Availability is greater than $7,500,000 after giving effect to such Tranche A Advance. (e) Amounts borrowed each Borrower may borrow under this Section 2.01(a), prepay pursuant to Section 2.10 and reborrow under this Section may be repaid and, subject to the terms and conditions of this Agreement, reborrowed at any time during the term of this Agreement2.01(a).