Common use of Revolving Credit Facility Clause in Contracts

Revolving Credit Facility. On the terms and subject to the conditions hereinafter set forth, including Article III, each Lender severally agrees to make available to the Borrower an uncommitted revolving credit facility providing for Advances under each Tranche from time to time in Dollars on any Business Day during the Reinvestment Period (or immediately thereafter pursuant to Section 8.04), pro rata based on each Lender’s unused Commitment as of such date, in each case in an aggregate principal amount at any one time outstanding up to but not exceeding such Xxxxxx’s Commitment and, as to all Lenders, in an aggregate principal amount at any one time outstanding up to but not exceeding the Maximum Available Amount as then in effect; provided that, after making any such Advance, each Tranche’s Tranche Minimum OC Coverage Test shall be satisfied. Within such limits and subject to the other terms and conditions of this Agreement, the Borrower may borrow Advances under this Section 2.01 and prepay Advances under Section 2.06. Notwithstanding anything in this Agreement to the contrary, the parties hereto acknowledge that this is an uncommitted facility and there is no express or implied commitment on the part of the Administrative Agent or any Lender to provide any Advance except that, in the case of Collateral Loans approved by means of an Approval Request or Approved List, the Lenders shall have committed to fund the related Advances (up to the amount(s) specified in the related Approval Request or Approved List) provided that the related conditions precedent set forth in Article III are satisfied.

Appears in 2 contracts

Samples: Credit and Security Agreement (Blackstone Secured Lending Fund), Credit and Security Agreement (Blackstone Secured Lending Fund)

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Revolving Credit Facility. On the terms and subject to the conditions hereinafter set forth, including Article III, each Lender severally agrees to make available to the Borrower an uncommitted revolving credit facility providing for Advances under each Tranche this uncommitted facility from time to time in Dollars Available Currencies on any Business Day during the Reinvestment Period (or immediately thereafter pursuant to Section 8.04)Period, on a pro rata based on each Lender’s unused Commitment as of such date, basis in each case in an aggregate principal amount at any one time outstanding (calculated as the Dollar Equivalent of such aggregate principal amount) up to but not exceeding such XxxxxxLender’s Commitment Allocated Facility Amount and, as to all Lenders, in an aggregate principal amount at any one time outstanding up to but not exceeding that satisfies the Maximum Available Amount as then in effectAdvance Rate Test; provided that, after making any such Advance, each Tranche’s Tranche Minimum OC Coverage Test the Dollar Equivalent of the aggregate principal amount of all Advances denominated in an Available Currency other than Dollars shall be satisfiednot exceed the Non-Dollar Sublimit. Within such limits and subject to the other terms and conditions of this Agreement, the Borrower may borrow (and re-borrow) Advances under this Section 2.01 (each, a “Borrowing”) and prepay Advances under Section 2.06. Notwithstanding anything in this Agreement to the contrary, the parties hereto acknowledge that this is an uncommitted facility and there is no express or implied commitment on the part of the Administrative Agent or any Lender to provide any Advance except that, in the case of Collateral Loans approved by means of an Approval Request or Approved ListRequest, the Lenders Lender(s) shall have committed to fund the related Advances Advance(s) (up to the amount(s) specified in the related Approval Request or Approved ListRequest) provided that the related conditions precedent set forth in Article III are satisfied.

Appears in 2 contracts

Samples: Purchase and Sale Agreement (Pennantpark Investment Corp), Credit and Security Agreement (Pennantpark Investment Corp)

Revolving Credit Facility. On the terms and subject to the conditions hereinafter set forth, including Article III, each Lender severally agrees to make available to the Borrower an uncommitted revolving credit facility providing for Advances under each Tranche Class from time to time in Dollars on any Business Day during the Reinvestment Period (or immediately thereafter pursuant to Section 8.04), on a pro rata based on each Lender’s unused Commitment as of such date, basis in each case in an aggregate principal amount at any one time outstanding up to but not exceeding such XxxxxxLender’s Commitment and, as to all Lenders, in an aggregate principal amount at any one time outstanding up to but not exceeding the Maximum Available Amount as then in effect; provided that, after making any such Advance, each Tranche’s Tranche Class Minimum OC Coverage Test shall must be satisfied. Within such limits and subject to the other terms and conditions of this Agreement, the Borrower may borrow (and re-borrow) Advances under this Section 2.01 and prepay Advances under Section 2.06. Notwithstanding anything in this Agreement to the contrary, the parties hereto acknowledge that this is an uncommitted facility facility, and there each Lender’s obligation to lend is no express or implied commitment on the part of subject to (x) the Administrative Agent or any Lender to provide any Advance except that, in the case Agent’s approval of Collateral Loans approved by means of an Approval Request or Approved List, the Lenders shall have committed to fund the related Advances (up to the amount(s) specified in the related Approval Request or Approved ListRequests in accordance with Section 2.02 and (y) provided that the related satisfaction of the applicable conditions precedent set forth in Article III are satisfiedIII.

Appears in 2 contracts

Samples: Credit and Security Agreement (OFS Capital Corp), Credit and Security Agreement (OFS Capital Corp)

Revolving Credit Facility. On the terms and subject to the conditions hereinafter set forth, including Article III, each Lender severally agrees to make available to the Borrower an uncommitted revolving credit facility providing for Advances under each Tranche Class from time to time in Dollars on any Business Day during the Reinvestment Period (or immediately thereafter pursuant to Section 8.04), pro rata based on each Lender’s unused Commitment Individual Lender Maximum Funding Amount as of such date, in each case in an aggregate principal amount at any one time outstanding up to but not exceeding such XxxxxxLender’s Commitment Individual Lender Maximum Funding Amount and, as to all Lenders, in an aggregate principal amount at any one time outstanding up to but not exceeding the Maximum Available Amount as then in effect; provided that, after making any such Advance, each Tranche’s Tranche Class Minimum OC Coverage Test shall be satisfied. Within such limits and subject to the other terms and conditions of this Agreement, the Borrower may borrow (and re-borrow) Advances under this Section 2.01 and prepay Advances under Section 2.06. Notwithstanding anything in this Agreement to the contrary, the parties hereto acknowledge that this is an uncommitted facility and there is no express or implied commitment on the part of the Administrative Agent or any Lender to provide any Advance Advance, except that, in the case of Collateral Loans approved by means of an Approval Request or Approved List, the Lenders shall have committed to fund the related Advances (up to the amount(s) specified in the related Approval Request or Approved List) provided that the related conditions precedent set forth in Article III are satisfied.

Appears in 2 contracts

Samples: Credit and Security Agreement (Ares Capital Corp), Credit and Security Agreement (Ares Capital Corp)

Revolving Credit Facility. On the terms and subject to the conditions hereinafter set forth, including Article III, each Lender severally agrees to make available to the Borrower an uncommitted revolving credit facility providing for Advances under each Tranche from time to time in Dollars on any Business Day during the Reinvestment Period (or immediately thereafter pursuant to Section 8.04), on a pro rata based basisbased on each Lender’s unused Commitment as of such date, in each case in an aggregate principal amount at any one time outstanding up to but not exceeding such Xxxxxx’s Commitment and, as to all Lenders, in an aggregate principal amount at any one time outstanding up to but not exceeding the Maximum Available Amount as then in effect; provided that, after making any such Advance, each Tranche’s Tranche Minimum OC Coverage Test shall be satisfied. Within such limits and subject to the other terms and conditions of this Agreement, the Borrower may borrow (and re-borrow) Advances under this Section 2.01 and prepay Advances under Section 2.06. Notwithstanding anything in this Agreement to the contrary, the parties hereto acknowledge that this is an uncommitted facility and there is no express or implied commitment on the part of the Administrative Agent or any Lender to provide any Advance except that, in the case of Collateral Loans approved by means of an Approval Request or Approved List, the Lenders shall have committed to fund the related Advances (up to the amount(s) specified in the related Approval Request or Approved List) provided that the related conditions precedent set forth in Article III are satisfied.

Appears in 1 contract

Samples: Credit and Security Agreement (Blackstone Secured Lending Fund)

Revolving Credit Facility. On the terms and subject to the conditions hereinafter set forth, including Article III, each Lender severally agrees to make available to the Borrower an uncommitted revolving credit facility providing for Advances under each Tranche from time to time in Dollars on any Business Day during the Reinvestment Period (or immediately thereafter pursuant to Section 8.04), pro rata based on each Lender’s unused Commitment as of such date, in each case in an aggregate principal amount at any one time outstanding up to but not exceeding such XxxxxxLender’s Commitment and, as to all Lenders, in an aggregate principal amount at any one time outstanding up to but not exceeding the Maximum Available Amount as then in effect; provided that, after making any such Advance, each Tranche’s Tranche Minimum OC Coverage Test shall be satisfied. Within such limits and subject to the other terms and conditions of this Agreement, the Borrower may borrow Advances under this Section 2.01 and prepay Advances under Section 2.06. Notwithstanding anything in this Agreement to the contrary, the parties hereto acknowledge that this is an uncommitted facility and there is no express or implied commitment on the part of the Administrative Agent or any Lender to provide any Advance except that, in the case of Collateral Loans approved by means of an Approval Request or Approved List, the Lenders shall have committed to fund the related Advances (up to the amount(s) specified in the related Approval Request or Approved List) provided that the related conditions precedent set forth in Article III are satisfied.

Appears in 1 contract

Samples: Credit and Security Agreement (Blackstone / GSO Secured Lending Fund)

Revolving Credit Facility. On the terms and subject to the conditions hereinafter set forth, including Article III, each Lender severally agrees to make available to the Borrower an uncommitted revolving credit facility providing for Advances under each Tranche from time to time in Dollars on any Business Day during the Reinvestment Period (or immediately thereafter pursuant to Section 8.04), pro rata based on each Lender’s unused Commitment Individual Lender Maximum Funding Amount as of such date, in each case in an aggregate principal amount at any one time outstanding up to but not exceeding such XxxxxxLender’s Commitment Individual Lender Maximum Funding Amount and, as to all Lenders, in an aggregate principal amount at any one time outstanding up to but not exceeding the Maximum Available Amount as then in effect; provided that, after making any such Advance, each Tranche’s Tranche Minimum OC Coverage Test shall be satisfied. Within such limits and subject to the other terms and conditions of this Agreement, the Borrower may borrow (and re-borrow) Advances under this Section 2.01 and prepay Advances under Section 2.06. Notwithstanding anything in this Agreement to the contrary, the parties hereto acknowledge that this is an uncommitted facility and there is no express or implied commitment on the part of the Administrative Agent or any Lender to provide any Advance except that, in the case of Collateral Loans approved by means of an Approval Request or Approved List, the Lenders shall have committed to fund the related Advances (up to the amount(s) specified in the related Approval Request or Approved List) provided that the related conditions precedent set forth in Article III are satisfiedsatisfied or waived.

Appears in 1 contract

Samples: Credit and Security Agreement (Blackstone Private Credit Fund)

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Revolving Credit Facility. On the terms and subject to the conditions hereinafter set forth, including Article III, each Lender severally agrees to make available to the Borrower an a committedan uncommitted revolving credit facility providing for Advances under each Tranche from time to time in Dollars on any Business Day during the Reinvestment Period (or immediately thereafter pursuant to Section 8.04), on a pro rata based on each Lender’s unused Commitment as of such date, basis in each case in an aggregate principal amount at any one time outstanding up to but not exceeding such XxxxxxLender’s Commitment and, as to all Lenders, in an aggregate principal amount at any one time outstanding up to but not exceeding the Maximum Available Amount as then in effect; provided that, after making any such Advance, each Tranche’s Tranche Minimum OC Coverage Test shall be satisfied. Within such limits and subject to the other terms and conditions of this Agreement, the Borrower may borrow (and re-borrow) Advances under this Section 2.01 and prepay Advances under Section 2.06. Notwithstanding anything in this Agreement to the contrary, the parties hereto acknowledge that this is an a committed facility; provided that the Lenders shall only be obligated to lend to the extent that (x) eitheran uncommitted facility and there is no express or implied commitment on the part of the Administrative Agent or approvesor any Lender to provide any Advance except that, in the case of Collateral Loans approved by means of an Approval Request or Approved List, the Lenders shall have committed to fund the related Advances (up to the amount(s) specified in the related Approval Request Requests or the Advance is for the purpose of consummating a Macomb Merger and (y) theRequest or Approved List) provided that the related conditions precedent set forth in Article III are satisfied.

Appears in 1 contract

Samples: Credit and Security Agreement (Blackstone / GSO Secured Lending Fund)

Revolving Credit Facility. On the terms and subject to the conditions hereinafter set forth, including Article III, each Lender severally agrees to make available advances to the Borrower (each, an uncommitted revolving credit facility providing for Advances under “Advance” and each Tranche borrowing on any single day, a “Borrowing”) from time to time in Dollars on any Business Day during the Reinvestment Period (or immediately thereafter pursuant period from the Closing Date until the Commitment Termination Date, and to Section 8.04), pro rata based make Net Aggregate Exposure Advances to the Borrower from time to time on each Lender’s unused any Business Day during the period from the Commitment Termination Date until the first date on which the Net Aggregate Exposure Amount has been permanently reduced to zero as of such dateset forth in a written notice from the Collateral Servicer to the Administrative Agent and the Trustee, in each case case, in an aggregate principal amount at any one time outstanding up to but not exceeding such XxxxxxLender’s Commitment and, as to all Lenders, in an aggregate principal amount at any one time outstanding up to but not exceeding the Maximum Available Amount as then in effectTotal Commitment; provided that, after making that no such Advances (including Net Aggregate Exposure Advances) and no prepayment of any such Advance, each Tranche’s Tranche Minimum OC Coverage Test Advances shall be satisfiedmade on the Business Day immediately preceding (but not including) any Payment Date. Within such limits and subject to the other terms and conditions of this Agreement, the Borrower may borrow (and re-borrow) Advances under this Section 2.01 and prepay Advances under Section 2.06. Notwithstanding anything in this Agreement to the contrary, the parties hereto acknowledge that this is an uncommitted facility and there is no express or implied commitment on the part of the Administrative Agent or any Lender to provide any Advance except that, in the case of Collateral Loans approved by means of an Approval Request or Approved List, the Lenders shall have committed to fund the related Advances (up to the amount(s) specified in the related Approval Request or Approved List) provided that the related conditions precedent set forth in Article III are satisfied2.05.

Appears in 1 contract

Samples: Credit and Security Agreement (NewStar Financial, Inc.)

Revolving Credit Facility. On the terms and subject to the conditions hereinafter set forth, including Article III, each Lender severally agrees to make available to the Borrower an uncommitted revolving credit facility providing for Advances under each Tranche from time to time in Dollars on any Business Day during the Reinvestment Period (or immediately thereafter pursuant to Section 8.04), on a pro rata based on each Lender’s unused Commitment as of such date, basis in each case in an aggregate principal amount at any one time outstanding up to but not exceeding such XxxxxxLender’s Commitment and, as to all Lenders, in an aggregate principal amount at any one time outstanding up to but not exceeding the Maximum Available Amount as then in effect; provided that, after making any such Advance, each Tranche’s Tranche Minimum OC Coverage Test shall be satisfied. Within such limits and subject to the other terms and conditions of this Agreement, the Borrower may borrow (and re-borrow) Advances under this Section 2.01 and prepay Advances under Section 2.06. Notwithstanding anything in this Agreement to the contrary, the parties hereto acknowledge that this is an uncommitted facility and there is no express or implied commitment on the part of the Administrative Agent or any Lender to provide any Advance except that, in the case of Collateral Loans approved by means of an Approval Request or Approved List, the Lenders shall have committed to fund the related Advances (up to the amount(s) specified in the related Approval Request or Approved List) provided that the related conditions precedent set forth in Article III are satisfied.

Appears in 1 contract

Samples: Credit and Security Agreement (Blackstone / GSO Secured Lending Fund)

Revolving Credit Facility. On the terms and subject to the conditions hereinafter set forth, including Article III, each Lender severally agrees to make available to the Borrower an uncommitted revolving credit facility providing for Advances under each Tranche from time to time in Dollars on any Business Day during the Reinvestment Period (or immediately thereafter pursuant to Section 8.04), on a pro rata based on each Lender’s unused Commitment as of such date, basis in each case in an aggregate principal amount at any one time outstanding up to but not exceeding such XxxxxxLender’s Commitment and, as to all Lenders, in an aggregate principal amount at any one time outstanding up to but not exceeding the Maximum Available Amount as then in effect; provided that, after making any such Advance, each Tranche’s Tranche Minimum OC Coverage Test shall be satisfied. Within such limits and subject to the other terms and conditions of this Agreement, the Borrower may borrow (and re-borrow) Advances under this Section 2.01 and prepay Advances under Section 2.06. Notwithstanding anything in this Agreement to the contrary, the parties hereto acknowledge that this is an uncommitted facility and there is no express or implied commitment on the part of the Administrative Agent or any Lender to provide any Advance except that, in the case of Collateral Loans approved by means of an Approval Request or Approved List, the Lenders shall have committed to fund the related Advances (up to USActive 53861575.5 -54- the amount(s) specified in the related Approval Request or Approved List) provided that the related conditions precedent set forth in Article III are satisfied.

Appears in 1 contract

Samples: Credit and Security Agreement (Blackstone / GSO Secured Lending Fund)

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