Common use of Revolving Credit Clause in Contracts

Revolving Credit. Subject to the terms and conditions of this Agreement, each of the Banks severally agrees to make loans (the "Revolving Credit Loans") according to each such Bank's Pro Rata Share of the Revolving Credit Commitment, to Borrower from time to time during the period from the Effective Date up to but not including the Revolving Credit Termination Date, provided that the aggregate principal amount of all Revolving Credit Loans outstanding at any time does not exceed the Availability for Revolving Credit Loans. Each Revolving Credit Loan which shall not utilize the Availability for Revolving Credit Loans in full shall be in the minimum amount set forth in Section 2.10 hereof. Subject to the terms hereof, the Borrower may borrow, make an Optional Prepayment pursuant to Section 2.07 hereof, and reborrow under this Section 2.01 hereof. The failure of any Bank to make any requested Revolving Credit Loan to be made by it on the date specified for such Revolving Credit Loan shall not relieve any other Bank of its obligation (if any) to make such Revolving Credit Loan on such date, but no Bank shall be responsible for the failure by any other Bank to make such Revolving Credit Loans.

Appears in 4 contracts

Samples: Credit Agreement and Guaranty (Hampshire Group LTD), Credit Agreement and Guaranty (Hampshire Group LTD), Credit Agreement and Guaranty (Hampshire Group LTD)

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Revolving Credit. Subject to the terms and conditions of this Agreement, each of the Banks severally agrees to make loans (the "Revolving Credit Loans") according to each such Bank's Pro Rata Share of the Revolving Credit Commitment, to Borrower from time to time during the period from the Effective Closing Date up to but not including the Revolving Credit Termination Date, provided that the aggregate principal amount of all Revolving Credit Loans outstanding at any time does not exceed the Availability for lesser of a) the Revolving Credit LoansCommitment minus the Letter of Credit Obligations or b) the Borrowing Base. Each Revolving Credit Loan which shall not utilize the Availability for Revolving Credit Loans Commitment in full shall be in the minimum amount set forth in Section 2.10 hereof2.10. Subject to Within the terms hereoflimits off the Revolving Credit Commitment, the Borrower may borrow, make an Optional optional Prepayment pursuant to Section 2.07 hereof2.07, and reborrow under this Section 2.01 hereof2.01. The failure of any Bank to make any requested Revolving Credit Loan to be made by it on the date specified for such Revolving Credit Loan shall not relieve any other Bank of its obligation (if any) to make such Revolving Credit Loan on such date, but no Bank shall be responsible for the failure by of any other Bank to make such Revolving Credit LoansLoans to be made by such other Bank.

Appears in 2 contracts

Samples: Credit Agreement and Guaranty (Hampshire Group LTD), Credit Agreement and Guaranty (Hampshire Group LTD)

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Revolving Credit. Subject to the terms and conditions of this Agreement, each of the Banks severally agrees to make loans (the "Revolving Credit Loans") pro rata according to each such Bank's Pro Rata Share of the Revolving Credit CommitmentFacility, to Borrower the Revolving Credit Borrowers from time to time during the period from the Effective Closing Date up to but not including the Revolving Credit Termination Date, provided that the aggregate principal amount of all Revolving Credit Loans outstanding at any time does not exceed the Availability for Revolving Credit Facility (Loans) (the "Revolving Credit Commitment"). Each Revolving Credit Loan which shall not utilize the Availability for Revolving Credit Loans Facility in full shall be in the minimum amount set forth in Section 2.10 hereof2.15. Subject to Within the terms hereoflimits of the Revolving Credit Facility, the Borrower Revolving Credit Borrowers may borrow, make an Optional Prepayment optional prepayment pursuant to Section 2.07 hereof2.10, and reborrow under this Section 2.01 hereof2.01. All Revolving Credit Loans made to Boundless Technologies pursuant to the Prior Credit Agreement shall, as of the Closing Date, be deemed to be Revolving Credit Loans made to the Revolving Credit Borrowers hereunder. The failure of any Bank to make any requested Revolving Credit Loan to be made by it on the date specified for such Revolving Credit Loan shall not relieve any other Bank of its obligation (if any) to make such Revolving Credit Loan on such date, but no Bank shall be responsible for the failure by of any other Bank to make such Revolving Credit LoansLoan to be made by such other Bank.

Appears in 1 contract

Samples: Credit Agreement and Guaranty (Boundless Corp)

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