Examples of Revolving Commitment Percentage in a sentence
Subject to the terms and conditions set forth in this Agreement, each Lender, severally and not jointly, will make Revolving Advances to the Company in aggregate amounts outstanding at any time equal to such Lender’s Revolving Commitment Percentage of an amount equal to, as of any date of determination, (a) the Maximum Revolving Advance Amount minus (b) the aggregate amount of all Revolving Advances and Swing Loans then outstanding plus the Maximum Undrawn Amount of all Letters of Credit then outstanding.
Immediately upon the issuance of each Letter of Credit, each Revolving Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the applicable Issuer a participation in each Letter of Credit and each drawing thereunder in an amount equal to such Lender’s Revolving Commitment Percentage of the Maximum Undrawn Amount of such Letter of Credit (as in effect from time to time) and the amount of such drawing, respectively.
Upon the making of a Swing Loan (whether before or after the existence of a Default or an Event of Default and regardless of whether a Settlement has been requested with respect to such Swing Loan), each Revolving Lender shall be deemed, without further action by any party hereto, to have unconditionally and irrevocably purchased from Swing Loan Lender, without recourse or warranty, an undivided interest and participation in such Swing Loan in proportion to its Revolving Commitment Percentage.