Aggregate Loan Commitment definition
Examples of Aggregate Loan Commitment in a sentence
In the event the Aggregate Loan Commitment is terminated, the Credit Termination Date shall accelerate to such date of termination and the Borrowers shall, simultaneously with such termination, repay the Base Rate Loans and LIBO Rate Loans in accordance with ss.
The Borrowers agree, jointly and severally, to pay to the Administrative Agent for the account of each Bank as compensation for the Aggregate Loan Commitment, a fee ("Commitment Fee") computed at the rate per annum set forth in Schedule 2 attached to this Agreement on the average daily amount of the unused portion of the Aggregate Loan Commitment accrued from and after the date hereof.
No Borrower shall be entitled to any new Loan if, after giving effect to such Loan, the unpaid amount of the then outstanding Loans and Swing Line Loans would exceed the Aggregate Loan Commitment.
The Borrowers may at any time, on not less than three Business Days' written notice, (i) permanently reduce the Aggregate Loan Commitment, provided that any reduction shall be in the amount of $1,000,000 or a multiple thereof and that no such reduction shall cause the aggregate principal amount of Loans outstanding to exceed the Aggregate Loan Commitment as reduced, or (ii) terminate the Aggregate Loan Commitment.
The unused portion of the Aggregate Loan Commitment shall mean the Aggregate Loan Commitment less the aggregate principal amount of the outstanding Loans hereunder, but shall not include any amounts due under Swing Line Loans.