New Revolving Facility Sample Clauses

New Revolving Facility. Each 2021-1 New Revolving Loan Lender party hereto hereby irrevocably commits to provide its 2021-1 New Revolving Credit Commitments as set forth on Schedule 1 annexed hereto, on the terms set forth herein and subject to the satisfaction of the conditions set forth in Section 4(b) below.
Sample 1
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New Revolving Facility. The New Revolving Lenders will make available to the Borrower a first lien senior secured revolving credit facility (the “New Revolving Facility”) in aggregate principal amount equal to $150 million (the “New Draw Subfacility”) plus $107.593 million of the Existing LCs (the “LC Only Subfacility”). The LC Only Subfacility and up to $100 million of the New Draw Subfacility will be available for the issuance of letters of credit for the account of the Borrower, its parent entities and its subsidiaries; provided, that following the second anniversary of the Restructuring Effective Date, the portion of the New Draw Subfacility available for letters of credit shall be reduced to the greater of $50 million and the portion thereof then in use for letters of credit. The amount of the New Revolving Facility available for letters of credit from time to time is referred to herein as the “LC Sublimit”. The principal terms of the New Revolving Facility are set forth in the New Credit Agreement Term Sheet attached hereto.
Sample 1
New Revolving Facility. Subject to the terms and conditions set forth herein, each New Revolving Lender agrees that, effective upon the Restatement Effective Date, such New Revolving Lender shall be a Revolving Lender under the Restated Credit Agreement, with the rights and obligations of a Revolving Lender as provided therein.
Sample 1
New Revolving Facility. Subject to Section 2.22:
Sample 1
New Revolving Facility. (a) Upon the terms and subject to the conditions of this Agreement, at the Closing, the Company shall enter into the New Revolving Credit Agreement. The New Revolving Credit Agreement shall (i) be in a principal amount not in excess of forty-five million dollars ($45,000,000), (ii) have a term no less than five (5) years and (iii) otherwise be in form and substance reasonably acceptable to the Supporting Noteholders. Unless otherwise agreed to in writing by the Supporting Noteholders, the borrowings under the New Revolving Facility on the Closing Date shall not be in excess of the Permitted Revolver Draw.
Sample 1
New Revolving Facility. (a) Upon the terms and subject to the conditions of this Agreement, at the Closing, the Company shall enter into the New Revolving Credit Agreement. The New Revolving Credit Agreement shall (i) be in a principal amount not in excess of forty-five million dollars ($45,000,000) (with the Company’s option to increase the maximum credit available thereunder to an amount not in excess of sixty-five million dollars ($65,000,000), subject to agreement with the lenders under such facility and the terms of this Agreement), (ii) have a term no less than five (5) years and (iii) otherwise be in form and substance reasonably acceptable to the Supporting Noteholders. Unless otherwise agreed to in writing by the Supporting Noteholders, the borrowings under the New Revolving Facility on the Closing Date shall not be in excess of the Permitted Revolver Draw.
Sample 1
New Revolving Facility. (a) As of the Effective Date, (i) the Revolving Credit Loans (as defined in the Existing Credit Agreement immediately prior to the Effective Date, the “Existing Revolving Credit Loans”) and the Term Loans (as defined in the Existing Credit Agreement immediately prior to the Effective Date, the “Existing Term Loans”) in each case shall be repaid in full with the proceeds of Revolving Credit Loans as defined in the Credit Agreement made on the Effective Date pursuant to the Revolving Credit Commitments as defined in the Credit Agreement and set forth in the Amended Commitment Schedule (the “New Revolving Credit Commitments”) and (ii) the Revolving Credit Commitments (as defined in the Existing Credit Agreement immediately prior to the Effective Date, the “Existing Revolving Credit Commitments”) shall be terminated and replaced in full with the New Revolving Credit Commitments.
Sample 1
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Related to New Revolving Facility

  • Revolving Facility During the Availability Period, each Lender severally agrees, on the terms and conditions set forth in this Agreement, to make a Revolving Loan or Revolving Loans to each Revolving Facility Borrower from time to time pursuant to such Lender’s Facility Commitment, which Revolving Loans: (i) may, except as set forth herein, at the option of each Revolving Facility Borrower, be incurred and maintained as, or Converted into, Revolving Loans that are US Base Rate Loans, Eurodollar Loans or Foreign Currency Loans, in each case denominated in Dollars or a Designated Foreign Currency, provided that all Revolving Loans made as part of the same Revolving Borrowing shall, unless otherwise specifically provided herein, be made to the same Revolving Facility Borrower and consist of Revolving Loans of the same Type; (ii) may be repaid or prepaid and re-borrowed in accordance with the provisions hereof; and (iii) shall not be made if, after giving effect to any such Revolving Loan, (A) the Revolving Facility Exposure of any Lender would exceed such Lender’s Facility Commitment, (B) the Aggregate Revolving Facility Exposure would exceed the Total Facility Commitment, (C) the Aggregate Revolving Facility Exposure at such time that is denominated in any Designated Foreign Currency would exceed the Maximum Foreign Exposure Amount or the Aggregate Canadian Sub-Facility Exposure would exceed the Total Canadian Commitment, (D) the Foreign Subsidiary Borrower Exposure would exceed the Maximum Foreign Exposure Amount, (E) the Aggregate Credit Facility Exposure would exceed the Maximum Credit Facility Amount, or (F) any Borrower would be required to prepay Loans or cash collateralize Letters of Credit pursuant to Section 2.12(b). The Revolving Loans to be made by each Lender will be made by such Lender in the Funding Amount applicable to such Lender at the time of the making of such Revolving Loan on a pro rata basis based upon such Lender’s Funding Percentage of the Revolving Borrowing at the time of such Revolving Borrowing, in each case in accordance with Section 2.07 hereof.

  • Revolving Credit Facility (i) Subject to the terms and conditions hereof, each Lender severally agrees to make available to Borrowers from time to time until the Commitment Termination Date its Pro Rata Share of advances (each, a “Revolving Credit Advance”). The Pro Rata Share of the Loans of any Lender shall not at any time exceed its separate Commitment. The obligations of each Lender hereunder shall be several and not joint. Until the Commitment Termination Date, Borrowers may borrow, repay and reborrow under this Section 2.1(a); provided, that (x) the amount of any Revolving Credit Advances to be made at any time shall not exceed Availability at such time, (y) the amount of any Revolving Credit Advances to be made to the U.S. Borrowers at any time shall not exceed the U.S. Availability at such time and (z) the amount of any Revolving Credit Advances to be made to the Canadian Borrowers at any time shall not exceed the Canadian Availability at such time. Each Revolving Credit Advance shall be made on notice by Borrower Representative to one of the representatives of Agent identified in Schedule (2.1) at the address specified therein. Any such notice must be given no later than (1) 12 noon (New York, New York time) on the date of the proposed Revolving Credit Advance, in the case of a Base Rate Loan, or (2) 12 noon (New York, New York time) on the date which is three (3) Business Days’ prior to the proposed Revolving Credit Advance, in the case of a LIBOR Loan. Each such notice (a “Notice of Revolving Credit Advance”) may be given verbally by telephone but must be immediately confirmed in writing (by fax, electronic mail or overnight courier) substantially in the form of Exhibit 2.1(a)(i), and shall include the information required in such Exhibit. If any Borrower desires to have the Revolving Credit Advances bear interest by reference to a LIBOR Rate, with respect to LIBOR Loans denominated in Dollars, and BA Rate, with respect to LIBOR Loans denominated in Canadian Dollars, Borrower Representative must comply with Section 2.5(e). All Revolving Credit Advances (x) made to a U.S. Borrower shall be denominated in Dollars and (y) made to a Canadian Borrower shall be denominated in Dollars or Canadian Dollars but shall be deemed to have been made (in the case of Canadian Dollar Revolving Credit Advances) in the Dollar Equivalent of such Revolving Credit Advance.

  • Term Loan Facility Each Lender severally agrees, on the terms and conditions set forth herein, to make Loans to the Borrower during the period from the Closing Date to June 20, 2003, in an aggregate amount not to exceed such Lender's Pro Rata Share of the Term Commitment. The Borrower from time to time may borrow under the Term Loan Facility (and may reborrow any amount theretofore prepaid) until close of business on June 20, 2003, for a term not to exceed 364 days from the date of the Borrowing. Each such loan under the Term Loan Facility (a "Term Loan") shall be in the minimum amount of $10,000,000 and shall become due and payable on the last day of the term selected by the Borrower for such Term Loan (the "Term Loan Maturity Date"), which shall in no event be later than 364 days from the date of such Term Loan. The maximum availability under the Term Loan Facility shall be the amount of the Credit minus the aggregate outstanding principal amount of Revolving Loans and Term Loans made by the Lenders; provided, however, that to the extent the proceeds of a Term Loan are used to repay an outstanding Revolving Loan (or a portion thereof), such Revolving Loan (or portion thereof) shall not be considered part of the aggregate principal amount of outstanding Revolving Loans made by the Lenders for purposes of this sentence (such maximum availability hereafter being referred to as the "Term Loan Availability"). Under no circumstances shall the aggregate outstanding principal amount of Term Loans and Revolving Loans made by the Lenders exceed the Credit, and under no circumstances shall any Lender be obligated (i) to make any Term Loan (nor may the Borrower reborrow any amount heretofore prepaid) after June 20, 2003, or (ii) to make any Term Loan in excess of the Term Loan Availability. Each Term Loan made hereunder shall fully and finally mature and be due and payable in full on the Term Loan Maturity Date specified in the Borrowing Advice for such Term Loan; provided, however, that to the extent the Borrowing Advice for any Term Loan selects an Interest Period that expires before the Term Loan Maturity Date specified in such Borrowing Advice, the Borrower may from time to time select additional interest rate options and Interest Periods (none of which shall extend beyond the Term Loan Maturity Date for such Term Loan) by delivering a Borrowing Advice or Notice of Conversion/Continuation, as applicable.

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