Loans hereunder. If any Borrower makes a request for a Loan as provided herein and Agent, in its sole discretion, approves such Loan, Agent, at its option and in its sole discretion, shall do either of the following:
Loans hereunder. Notwithstanding the stated principal amount of the Note, the Borrower shall in no event be obligated to repay more than the aggregate of (i) the unpaid balance of Advances made to or for the benefit of the Borrower by the Bank, together with interest thereon at the rate or rates determined as provided in this Agreement; (ii) Borrower's obligations in respect of each Letter of Credit which is issued or outstanding as provided herein, and (iii) all of Borrower's Swap Obligations, as and when the same are due and payable in accordance with the terms of this Agreement and the Swap Documents. All of the Obligations are and shall be evidenced by the Note and secured by the Mortgages, the Assignments and the other Loan Documents.
Loans hereunder. All advances shall be evidenced by the Note, which shall be executed and delivered to the Bank prior to the initial Advance. Notwithstanding the stated principal amount of the Note, the Borrower shall in no event be obligated to repay more than the aggregate unpaid balance of advances made to or for the benefit of the Borrower by the Bank, together with interest at the rate specified in the Note (defined below) on each advance from the date it is made by the Bank.
Loans hereunder. The Administrative Agent shall give prompt notice to the Company and the Lenders of each rate of interest so determined, and its determination thereof shall be conclusive in the absence of manifest error.
Loans hereunder. The parties hereto acknowledge and agree that, notwithstanding the provisions regarding assignments set forth in Section 11.06 hereof, as of the Amendment Effective Date, (i) the Commitments and Applicable Percentages for each of the Lenders are as set forth on Schedule 1.01(b) and (ii) each Lender whose loan commitments under the Existing Credit Agreement is greater than its Commitments hereunder shall be deemed to have assigned, without recourse, to one or more Lenders such portion of such decreasing Lender’s existing loans and commitments under the Existing Credit Agreement as shall be necessary to effectuate the reallocation of commitments and existing loans contemplated hereby. Notwithstanding anything to the contrary in the Existing Credit Agreement or this Agreement, no other documents or instruments, including any Assignment and Assumption, shall be executed in connection with such assignments (all of which requirements are hereby waived), and such assignments shall be deemed to be made with all applicable representations, warranties and covenants as if evidenced by an Assignment and Assumption. On the Amendment Effective Date, the Lenders shall make full cash settlement with each other through the Administrative Agent with respect to all assignments, reallocations and other changes in commitments contemplated hereby such that after giving effect to such settlements each Lender’s Applicable Percentage with respect to the applicable Facility shall be as set forth on Schedule 1.01(b); provided, that the foregoing re-allocations and deemed assignments shall not give rise to, and each Lender hereby waives, payment of any additional amounts under Section 3.05.
Loans hereunder. The Borrower shall notify the Administrative Agent prior to the funding of the Loans in the event that any of the matters to which the Borrower is required to certify in the Notice of Borrowing is no longer true and correct as of the Initial Borrowing Date and the acceptance by the Borrower of the proceeds of any Loans shall constitute a recertification by the Borrower as of the Initial Borrowing Date, as to the matters to which the Borrower is required to certify in the applicable Notice of Borrowing.
Loans hereunder. If Borrower makes a request for a Revolving Loan as provided herein, or if Agent desires to make a Revolving Loan pursuant to any other provision of this Agreement or any Related Agreement that permits Agent to advance Revolving Loans to Borrower, Agent, at its option and in its sole and absolute discretion, shall do either of the following:
Loans hereunder. Commencing with the Closing Date, the rates of interest chargeable on Loans (as defined in the Original Credit Agreement) outstanding as of the Closing Date will be chargeable at the respective rates and will be payable in the manner set forth in Section 2.09. Issued Letters of Credit (as defined in the Original Credit Agreement) undrawn or drawn but as yet unreimbursed as of the Closing Date will be deemed to constitute Letters of Credit issued hereunder in the same manner and subject to the same terms and conditions as if issued initially as Letters of Credit pursuant to Section 2.04 and each Existing Lender’s purchase of a participation in each such Letter of Credit (as defined in the Original Credit Agreement) pursuant to Section 2.04(a)(ii), (b) and (c) of the Original Credit Agreement will be deemed automatically terminated and immediately replaced thereupon by the purchase by each Lender of a participation in each such Letter of Credit or any unreimbursed drawings on any such Letter of Credit on a pro rata basis based on such Lender’s Percentage Share, pursuant to Section 2.04(c).
Loans hereunder. Each reference herein to the “Swing Lender” shall mean all of the Swing Lenders or the applicable Swing Lender, as the context may require.
Loans hereunder. If, at any time, the rate of interest, together with all amounts which constitute interest and which are reserved, charged or taken by the Lenders as compensation for fees, services or expenses incidental to the making, negotiating or collection of the Loans or the other Obligations, shall be deemed by any competent court of Law, Governmental Authority or tribunal to exceed the maximum rate of interest permitted to be charged by any Lender to Borrower under applicable Law, then, during such time as such rate of interest would be deemed excessive, that portion of each sum paid attributable to that portion of such interest rate that exceeds the maximum rate of interest so permitted shall be deemed a voluntary prepayment of principal without penalty (including, without limitation, prepayment fees required pursuant to §4.2(a) hereof). As used herein, the term “applicable Law” shall mean the Law in effect as of the date hereof, provided, however, that in the event there is a change in the Law which results in a higher permissible rate of interest, then this Agreement and the Notes shall be governed by such new Law as of its effective date.
