Liquidity Loans. (a) Subject to and upon the terms and conditions herein set forth, each Liquidity Bank severally agrees on a revolving basis prior to the Liquidity Commitment Expiration Date, to make a loan or loans (each a “Liquidity Loan” and collectively, the “Liquidity Loans”) to BAFC, which Liquidity Loans may be repaid and the principal amount thereof (with the exception of Exiting Loans) reborrowed and bear interest in accordance with the provisions hereof and shall be made by the Liquidity Banks (with the exception of Exiting Loans) pro rata on the basis of their Percentages of the Aggregate Liquidity Commitment as follows:
Liquidity Loans. 24 SECTION 2.4
Liquidity Loans. Subject to the terms and conditions of this Agreement, the Borrower may designate any Revolving Credit Loan at the time of incurrence thereof as a Liquidity Loan; PROVIDED, that (a) a Distribution Shortfall exists as of the end of the then most recently ended fiscal quarter; (b) the Borrower shall have accelerated and obtained the full amount of the Management Cash Reserve available as of the date of the occurrence of such Distribution Shortfall; (c) the cumulative aggregate principal amount of all Liquidity Loans incurred during the life of the Credit Facilities shall not exceed $22,000,000; (d) the aggregate principal amount of Liquidity Loans incurred in any fiscal quarter shall not exceed the lesser of (i) the amount of the Net Distribution Shortfall as of the end of the preceding fiscal quarter and
Liquidity Loans. (a) Subject to the terms and conditions of this Agreement, each Lender severally agrees to make Liquidity Loans to the Company from time to time during the Liquidity Availability Period in an aggregate principal amount at any one time outstanding not to exceed such Lender's Commitment Percentage of the Liquidity Subfacility Amount, provided that (i) the aggregate unpaid principal balance of all Liquidity Loans at any one time outstanding shall not exceed the Liquidity Subfacility Amount and (ii) the aggregate unpaid principal balance of all Liquidity Loans, R/C Loans and Competitive Bid Loans at any one time outstanding, plus the Letter of Credit Exposure at such time, shall not exceed the Aggregate Commitments. During such period, the Company may borrow, prepay in whole or in part and reborrow Liquidity Loans, all in accordance with the terms and conditions hereof. Subject to the provisions of paragraphs 2.3 and 2.7, Liquidity Loans may be (a) Base Rate Loans or (b) Eurodollar Loans, or any combination thereof. Notwithstanding the foregoing, in the event that the Agent shall not have obtained a perfected first priority Lien (or the equivalent thereof under the relevant local law) on the Non-Domestic Collateral on or before the Liquidity Subfacility Effective Date except for the Collateral described in the proviso to paragraph 2.27(a), the aggregate unpaid principal balance of all Liquidity Loans outstanding at any one time shall not exceed the lesser of $30,000,000 and the Liquidity Subfacility Amount at such time until the Agent shall have obtained a perfected first priority Lien (or the equivalent thereof under the relevant local law) on the Non-Domestic Collateral. Upon the Agent obtaining a perfected first priority Lien (or the equivalent thereof under the relevant local law) on the Non-Domestic Collateral pursuant to (and subject to the limitations set forth in) paragraph 2.27, the aggregate unpaid principal balance of all Liquidity Loans outstanding at any one time shall not exceed the Liquidity Subfacility Amount, subject to the provisions of the first sentence of this paragraph 2.26(a).
Liquidity Loans. ...........................................................................3
Liquidity Loans. ......................................................................3 SECTION 3.02 The Liquidity Loan Notes................................................................9 SECTION 3.03 Interest...............................................................................10 SECTION 3.04 Responsibilities of Each Liquidity Bank................................................11 SECTION 3.05 Confirming Letters of Credit...........................................................11
Liquidity Loans. SECTION 3.02 The Liquidity Loan Notes.
Liquidity Loans. (a) Subject to and upon the terms and conditions herein set forth, each Liquidity Bank under a Liquidity Commitment Tranche severally agrees on a revolving basis prior to the respective Liquidity Tranche Expiration Date, to make a loan or loans (each a “Liquidity Loan” and collectively, the “Liquidity Loans”) to BAFC, which Liquidity Loans may be repaid and the principal amount thereof (with the exception of Exiting Loans) reborrowed and bear interest in accordance with the provisions hereof and shall be made by the Liquidity Banks (with the exception of Exiting Loans) pro rata on the basis of their Percentages of the Aggregate Liquidity Commitment or, with respect to Liquidity Loans made pursuant to subsections 3.01(a)(ii) and 3.01(a)(v), the applicable Liquidity Commitment Tranche, as follows:
Liquidity Loans. Subject to the terms and conditions of this Agreement, the Lenders severally agree to make loans to the Borrower during the period from and including the Restatement Effective Date to but excluding the Liquidity Loan Commitment Termination Date (each, a "Liquidity Loan") for the purpose of paying Bond XX Xxxmbursement Obligations arising from time to time in respect of Liquidity Drawings. Without limiting the obligations of the Borrower under Section 5.04 hereof, the Lenders severally agree that, unless the Borrower shall elect otherwise, upon the making of any Liquidity Drawing, each Lender shall, without any notice or other action on the part of the Borrower or satisfaction of any of the conditions set forth in Section 9, so long as no Event of Default shall have occurred and be continuing, make a Liquidity Loan in an amount equal to such Lender's Commitment Percentage of the Bond XX Xxxmbursement Obligation arising upon such Liquidity Drawing, the proceeds of which Liquidity Loan shall automatically be applied by each Lender to the payment in full of the portion of such Bond XX Xxxmbursement Obligation owing to it as a result of such Lender's payment to the Issuing Bank pursuant to Section 5.03 hereof in respect of such Liquidity Drawing. The Liquidity Loans shall be made and continued as Base Rate Loans. A Borrowing of Liquidity Loans shall require no notice by the Borrower hereunder.
Liquidity Loans. Section 2.26 of the Credit Agreement is hereby amended by adding a new paragraph 2.26(d) at the end thereof to read in its entirety as follows:
