Examples of Revolving Facility Exposure in a sentence
All or any part of such Defaulting Lender’s participation in L/C Commitments shall be reallocated along the non-Defaulting Lenders in accordance with their respective Applicable Percentages (calculated without regard to such Defaulting Lender’s Commitment) but only to the extent that such reallocation does not cause the aggregate Revolving Facility Exposure of any non-Defaulting Lender to exceed such non-Defaulting Lender’s Revolving Facility Commitment.
If on any date (after giving effect to any other payments on such date) the Revolving Facility Exposure of any Lender exceeds such Lender’s Revolving Commitment, then, in the case of each of the foregoing, the Borrower shall, on such day, prepay on such date a principal amount of Revolving Loans in an amount sufficient to eliminate such excess.
Immediately after giving effect to any such Credit Event after the Closing Date, the Aggregate Revolving Facility Exposure shall not exceed the Revolving Commitments then in effect.
On the effective date of any such additional Revolving Commitments, the Revolver Agent may take any and all action as may be reasonably necessary to ensure that, upon the effectiveness of such additional Revolving Commitments, (i) Revolving Loans made under such additional Revolving Commitments are included in each Borrowing of outstanding Revolving Loans on a pro rata basis and (ii) the Lender providing such additional Revolving Commitments shares ratably in the Aggregate Revolving Facility Exposure.
In no event shall Lenders have any obligation to honor a request for a Revolver Loan if the sum of (i) the Revolving Facility Exposure and (ii) the aggregate outstanding principal amount of Swingline Loans, would exceed the lesser of the Revolver Commitments and the Borrowing Base.