Examples of Initial Revolving Commitment in a sentence
Subject to the terms and conditions set forth herein, each Initial Revolving Lender severally agrees to make Initial Revolving Loans to the Revolving Borrowers from time to time during the Revolving Availability Period, in an aggregate principal amount that will not result in such Initial Revolving Lender’s Initial Revolving Exposure exceeding such Initial Revolving Lender’s Initial Revolving Commitment or the Aggregate Initial Revolving Exposure exceeding the Aggregate Initial Revolving Commitment.
For purposes of computing commitment fees, an Initial Revolving Commitment of an Initial Revolving Lender shall be deemed to be used to the extent of the outstanding Initial Revolving Loans.
The Revolving Borrowers agree to pay to the Administrative Agent for the account of each Initial Revolving Lender a commitment fee (the “Commitment Fee”), which shall accrue at the rate of 0.50% per annum on the average daily unused amount of the Initial Revolving Commitment of such Initial Revolving Lender during the period from and including the Original Effective Date to but excluding the date on which the Initial Revolving Commitments terminate.
Except to the extent of reallocations of participations pursuant to the prior sentence, the occurrence of the Initial Revolving Commitment Termination Date shall have no effect upon (and shall not diminish) the percentage participations of the Lenders in any Letter of Credit issued before the Initial Revolving Commitment Termination Date.
Within the limits of the Initial Revolving Commitment of each Revolving Lender, amounts of Initial Revolving Loans repaid may be reborrowed by the Borrowers under this Section 2.01(a).