Revolver Commitments definition
Examples of Revolver Commitments in a sentence
In the event any Refinancing Revolver Commitments extend beyond the Commitment Termination Date, any applicable Refinancing Amendment may provide that the maturity date for Letters of Credit may be extended and the related obligations to issue Letters of Credit may be continued so long as the Bank issuing such Letter of Credit has consented to such extensions in their sole discretion (it being understood that no consent of any other Lender shall be required in connection with any such extension).
After giving effect to any Commitment Increase, the outstanding Initial Revolver Loans may not be held pro rata in accordance with the new Initial Revolver Commitments.
The effective date of any voluntary reduction of the Revolver Commitments shall be specified in such notice and shall be no less than 3 Business Days after such notice is timely received by Administrative Agent.
The applicable Borrowers will use the proceeds, if any, of the Refinancing Term Loans and Refinancing Revolver Commitments in exchange for, or to extend, renew, replace, repurchase, retire or refinance, and shall permanently terminate applicable commitments under, substantially concurrently, the applicable Refinanced Debt.
Borrower Representative may elect to terminate a Revolver Commitment in its entirety only; provided that nothing contained herein shall affect Borrowers’ right to reduce any Revolver Commitments as provided in Section 1.1.4 or to reduce to zero any Revolver Commitments of any separate Class established pursuant to Section 1.5, Section 1.6 and Section 1.7.