Examples of Total Revolving Credit Committed Amount in a sentence
The amount set forth below opposite each Lender's name is herein called such Lender's "Revolving Credit Committed Amount" and the total of each Lender's Revolving Credit Committed Amount is herein called the "Total Revolving Credit Committed Amount".
The Borrower shall pay to the Agent for the ratable benefit of the Lenders a monthly revolving credit facility fee (collectively, the “Revolving Credit Unused Line Fees” and individually, a “Revolving Credit Unused Line Fee”) in an amount equal to one-quarter of one percent (0.25%) per annum of the average daily unused and undisbursed portion of the Total Revolving Credit Committed Amount in effect from time to time accruing during each month.
As used in this Agreement, the term "Borrowing Base" means at any time, an amount equal to the aggregate of (a) eighty-five percent (85%) of the amount of Eligible Receivables, plus (b) the lesser of (x) sixty-five percent (65%) of the amount of Eligible Inventory or (y) the greater of (i) Ten Million Five Hundred Thousand Dollars ($10,500,000) or (ii) fifty percent (50%) of the Total Revolving Credit Committed Amount.
Each Lender's Revolving Credit Committed Amount and the Total Revolving Credit Committed Amount may be increased by the amount, if any, of each Lender's Incremental Revolving Commitment pursuant to Section 2.1.6 and all times thereafter all references herein to each Lender's Revolving Credit Committed Amount and the Total Revolving Credit Committed Amount shall include the amount of each Lender's Incremental Revolving Commitment.
On the Closing Date, the outstanding principal amount of the Revolving Loan shall not exceed an amount equal to (i) the lesser of the Borrowing Base or (ii the Total Revolving Credit Committed Amount, minus Twenty Million Dollars ($20,000,0000).
Committed Amount Pro Rata Share ------ ---------------- -------------- Citizens $35,000,000 70% SunTrust $15,000,000 30% Total Revolving Credit Committed Amount $50,000,000 100% Neither the Agent nor any of the Lenders shall be responsible for the Revolving Credit Commitment of any other Lender, nor will the failure of any Lender to perform its obligations under its Revolving Credit Commitment in any way relieve any other Lender from performing its obligations under its Revolving Credit Commitment.
During the Revolving Credit Commitment Period, the Lender agrees to make Revolving Loans requested by any Borrower from time to time in accordance with the provisions of this Agreement; provided that after giving effect to any Borrower's request the aggregate principal amount of all Revolving Loans would not exceed an amount equal to Twenty Million Dollars ($20,000,000) (the "Total Revolving Credit Committed Amount").
On an average monthly basis thereafter, tested as of the last day of each calendar month, commencing with the first such date following the Closing Date, the outstanding principal amount of the Revolving Loan shall not exceed an amount equal to (i) the lesser of the Borrowing Base, or (ii) the Total Revolving Credit Committed Amount, minus $10,000,000 (the "Required Availability").
The Borrowers shall pay to the Lender, a revolving credit facility fee (the "Revolving Credit Unused Line Fee") in an amount equal at all times to the Applicable Fee Percentage per annum on the average daily unused and undisbursed portion of the Total Revolving Credit Committed Amount in effect from time to time accruing for the period from and including the Closing Date.
On an average monthly basis, tested of the last day of each calendar month, commencing with the first such date following the Closing Date, the outstanding principal amount of the Revolving Loan shall not exceed an amount equal to (i) the lesser of the Borrowing Base, or (ii) the Total Revolving Credit Committed Amount, MINUS $10,000,000 (the "Required Availability").