UK Revolving Loans. The Global Revolving Credit Exposure of any Global Revolving Lender at any time shall be such Lender’s Global Revolving Percentage of the total Global Revolving Credit Exposure at such time.
UK Revolving Loans. Subject to and upon the terms and conditions set forth herein, each Lender severally agrees to make, at any time and from time to time on or after the Effective Date and prior to the Final Maturity Date, a revolving loan or revolving loans (each, a “UK Revolving Loan” and, collectively, the “UK Revolving Loans”) to the UK Borrowers (on a joint and several basis), which UK Revolving Loans: (i) shall, at the option of the applicable UK Borrower, be denominated in either Pounds Sterling (such Revolving Loans, “Pounds Sterling Denominated Revolving Loans”) or Euros (such Revolving Loans, “Euro Denominated Revolving Loans”), (ii) shall be incurred and maintained as solely in the case of UK Revolving Loans denominated in Pounds Sterling, LIBOR Loans, and in the case of UK Revolving Loans denominated in Euros, EURIBOR Loans; provided that all UK Revolving Loans comprising the same Borrowing shall at all times be of the same Type, (iii) may be repaid and reborrowed in accordance with the provisions hereof, (iv) shall not be made (and shall not be required to be made) by any Lender in any instance where the incurrence thereof (after giving effect to the use of the proceeds thereof on the date of the incurrence thereof to repay any amounts theretofore outstanding pursuant to this Agreement) would cause the Individual Exposure of such Lender to exceed the amount of its Revolving Loan Commitment at such time and (v) shall not be made (and shall not be required to be made) by any Lender in any instance where the incurrence thereof (after giving effect to the use of the proceeds thereof on the date of the incurrence thereof to repay any amounts theretofore outstanding pursuant to this Agreement) would cause (A) the Aggregate Exposure to exceed the Total Revolving Loan Commitment, as then in effect, (B) the Aggregate UK Exposure to exceed the UK Maximum Amount or the UK Revolving Loan Commitments, as then in effect, (C) the Aggregate Exposure to exceed the Aggregate Borrowing Base at such time (based on the most recently delivered Borrowing Base Certificate) or (D) the Aggregate UK Exposure to exceed the UK Borrowing Base at such time (based on the most recently delivered Borrowing Base Certificate). Upon receipt by the Administrative Agent of any Notice of Borrowing pursuant to which the UK Company or any other UK Borrower proposes to borrow in Pounds Sterling or Euros, the Administrative Agent shall provide notice of the same to each Lender.
UK Revolving Loans. The UK Borrower shall have the right, at its election, to repay the outstanding amount of the UK Revolving Loans, as a whole or in part, at any time without penalty or premium, provided that any full or partial prepayment of the outstanding amount of any UK Revolving Loan pursuant to this §4.3.8 made on a day other than the last day of the Interest Period relating thereto shall be subject to compliance with §6.9. The UK Borrower shall give the Administrative Agent (with a copy to Bank of America), no later than 12:00 noon, New York time, at least five (5) Business Days prior written notice (in a form reasonably acceptable to the Administrative Agent) of any proposed prepayment of such UK Revolving Loan pursuant to this §4.3.8, specifying the proposed date of prepayment of such UK Revolving Loan and the principal amount to be paid. Each such partial prepayment of the UK Revolving Loan shall be in an integral multiple of £500,000. Each partial prepayment shall be allocated among the UK Lenders in accordance with such Lender’s Commitment Percentage.
UK Revolving Loans. Subject to the terms and conditions set forth herein, each U.K. Lender severally agrees to make loans (each such loan, a “U.K. Revolving Loan”) in Dollars, Euros, or Sterling to any U.K. Borrower from time to time on any Business Day during the U.K. Availability Period, in an aggregate amount not to exceed at any time outstanding the amount of such U.K. Lender’s U.K. Commitment; provided, that, after giving effect to any U.K. Revolving Borrowing, (i) the Total U.K. Outstandings shall not exceed the Aggregate U.K. Commitments, and (ii) the U.K. Revolving Credit Exposure of any U.K. Lender shall not exceed such U.K. Lender’s U.K. Commitment. Within the limits of each U.K. Lender’s U.K. Commitment, and subject to the other terms and conditions hereof, each U.K. Borrower may borrow U.K. Revolving Loans under this Section 2.01(c), prepay U.K. Revolving Loans under Section 2.05(a), and reborrow U.K. Revolving Loans under this Section 2.01(c). U.K. Revolving Loans may be Domestic Base Rate Loans, Eurodollar Rate Loans, Alternative Currency Daily Rate Loans, or Alternative Currency Term Rate Loans, as further provided herein.
UK Revolving Loans. From time to time on or after the Effective Date and during the Availability Period, each U.K. Lender shall make loans under this Section 2.1(c) to U.K. Borrower in an aggregate principal amount at any one time outstanding (including its Commitment Percentage of all Letter of Credit Liabilities relating to U.K. Letters of Credit at such time) up to but not exceeding such U.K. Lender’s Commitment Percentage of the Maximum U.K. Available Amount. Subject to the conditions in this Agreement, any such U.K. Revolving Loan repaid prior to the Termination Date may be reborrowed pursuant to the terms of this Agreement; provided, that any and all such U.K. Revolving Loans shall be due and payable in full on the Termination Date. Loans made under this Section 2.1(c) may, at the option of U.K. Borrower, be made and denominated either in Dollars or in any Alternative Currency (but all Loans to be made under a particular borrowing must be made and denominated in the same currency). The aggregate of all U.K. Revolving Loans to be made by the U.K. Lenders in connection with a particular borrowing shall be equal to the lesser of (i) the unutilized portion of the U.K. Commitments or (ii) $500,000 or any integral multiple of $100,000 in excess thereof if the Loans are denominated in Dollars or, if the Loans are denominated in any Alternative Currency, the approximate equivalent thereof in such Alternative Currency. Notwithstanding anything else contained in Sections 3.1, 4.3 and 5.2, the U.K. Borrower may borrow in Pounds by way of overdraft and any such Borrowings shall be deemed (i) to be an advance of and be outstanding as a U.K. Prime Loan from the date such overdraft is honored and (ii) to be a representation and warranty by the U.K. Borrower that at the time any such overdraft is honored all of the conditions contained in Section 5.2 (other than paragraph (b) thereof) have been satisfied. Except for U.K. Obligations denominated in Pounds, there shall be no more than four (4) Alternative Currencies applicable to the U.K. Revolving Loans at any time.
UK Revolving Loans. Subject to the terms and conditions of this Agreement, during the Commitment Period, the Banks shall make a UK Revolving Loan or UK Revolving Loans to UK Borrowers in such amount or amounts as UK Borrowers may from time to time request. UK Borrowers shall not request a UK Revolving Loan (and the Banks shall not be obligated to make a UK Revolving Loan) if, after giving effect thereto, (i) the UK Exposure would exceed the amount of the UK Revolving Credit Commitment, or (ii) the sum of (A) the UK Exposure, (B) the U.S. Revolving Exposure, (C) the Canadian Exposure and (D) the U.S. Letter of Credit Exposure would exceed the aggregate amount of the Revolving Credit Commitments. UK Borrowers shall have the option, subject to the terms and conditions set forth herein, to borrow UK Revolving Loans, maturing on the last day of the Commitment Period, by means of any combination of (i) UK Base Rate Loans, or (ii) UK Fixed Rate Loans. UK Borrowers shall pay interest on the unpaid principal amount of UK Base Rate Loans outstanding from time to time from the date thereof until paid at the Base Rate from time to time in effect. Interest on such UK Base Rate Loans shall be payable, commencing June 1, 1999, and on the 1st day of each succeeding month thereafter, and at the maturity thereof. UK Borrowers shall pay interest on the unpaid principal amount of each UK Fixed Rate Loan outstanding from time to time, from the date thereof until paid, at the Derived UK Fixed Rate, fixed in advance for each Interest Period as herein provided for each such Interest Period. Interest on such UK Fixed Rate Loans shall be payable on each Interest Adjustment Date with respect to an Interest Period (provided that if an Interest Period exceeds three (3) months, the interest must be paid every three (3) months, commencing three (3) months from the beginning of such Interest Period).
UK Revolving Loans. As of the U.K. Effective Date, U.K. Lender agrees, for so long as no Default or Event of Default exists, to make revolving credit loans and extensions of credit under an overdraft sub-facility to U.K. Borrower (each such loan or extension of credit, a “U.K. Revolving Credit Loan”) from time to time during the period from the date hereof to but not including the last day of the Term, as requested by Borrower Representative, on behalf of U.K. Borrower, in the manner set forth in subsection 3.1.1 hereof, up to a maximum principal amount at any time outstanding in Dollar Equivalents equal to the lesser of (i) the U.K. Sublimit minus the Dollar Equivalent of U.K. LC Obligations and (ii) an amount equal to the Dollar Equivalent of the U.K. Borrowing Base at such time minus the Dollar Equivalent of the U.K. LC Obligations. The U.K. Revolving Credit Loans made by U.K. Lender to U.K. Borrower shall be denominated in Sterling or Euros. The U.K. Revolving Credit Loans shall be repayable in accordance with the terms of the Revolving Notes and shall be secured by all of the U.K. Collateral and all of the U.S. Collateral.
UK Revolving Loans. Subject to the terms and conditions herein set forth, U.K. Lender agrees to make Revolving Credit Loans to U.K. Borrowers (each such loan or extension of credit, a “U.K. Revolving Credit Loan”) from time to time during the period from and including the Restatement Date to but not including the last day of the Term, as requested by Borrower Representative on behalf of U.K. Borrowers, in the manner set forth in subsection 3.1.1, up to a maximum principal amount at any time outstanding equal to the lesser of (i) the U.K. Sublimit minus the U.K. LC Amount and (ii) the Dollar Equivalent of the U.K. Borrowing Base at such time minus the U.K. LC Amount. The U.K. Revolving Credit Loans made by U.K. Lender to U.K. Borrowers shall be denominated in Sterling, Dollars or Euros. The U.K. Revolving Credit Loans shall be repayable in accordance with the terms of Section 1.6 and shall be secured by all of the Collateral.
UK Revolving Loans. From time to time on or after the Effective Date and during the Availability Period, each U.K. Lender shall make loans under this Section 2.1(c) to U.K. Borrower in an aggregate principal amount at any one time outstanding (including such U.K. Lender’s Commitment Percentage of all Letter of Credit Liabilities relating to U.K. Letters of Credit at such time) up to but not exceeding such U.K. Lender’s Commitment Percentage of the Maximum U.K. Available Amount. Subject to the conditions in this Agreement, any such U.K. Revolving Loan repaid prior to the Termination Date may be reborrowed pursuant to the terms of this Agreement; provided, that any and all such U.K. Revolving Loans shall be due and payable in full on the Termination Date. Loans made under this Section 2.1(c) shall be made and denominated in Dollars. The aggregate of all U.K. Revolving Loans to be made by the U.K. Lenders in connection with a particular borrowing shall be equal to the lesser of (i) the unutilized portion of the Maximum U.K. Available Amount or (ii) $200,000 or any integral multiple of $100,000 in excess thereof.
UK Revolving Loans
