Acquisition Loan Commitment. Subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth herein, each Lender severally agrees to make available to the Borrower such Lender's Acquisition Loan Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("ACQUISITION LOANS") from time to time from the Effective Date until October 14, 1999, or such earlier date as the Acquisition Loan Commitments shall have been terminated as provided herein for the purpose of financing the purchase price of, and fees and expenses in connection with, Permitted Acquisitions and Permitted Capital Expenditures; PROVIDED, HOWEVER, that the sum of the aggregate principal amount of outstanding Acquisition Loans shall not exceed FIFTY MILLION DOLLARS ($50,000,000) (as such aggregate maximum amount may be reduced or increased from time to time as provided in Section 3.4, the "ACQUISITION LOAN COMMITTED AMOUNT"); PROVIDED, FURTHER, (A) with regard to each Lender individually, such Lender's outstanding Acquisition Loans shall not exceed such Lender's Acquisition Loan Commitment Percentage of the Acquisition Loan Committed Amount, and (B) the aggregate principal amount of outstanding Acquisition Loans shall not exceed the Acquisition Loan Committed Amount. Acquisition Loans may consist of Base Rate Loans or Eurodollar Loans, or a combination thereof, as the Borrower may request; PROVIDED, HOWEVER, that no more than 16 Eurodollar Loans shall be outstanding hereunder at any time. For purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period. Acquisition Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof.
Acquisition Loan Commitment. Subject to the terms and conditions set forth herein, each Acquisition Loan Lender severally agrees to make a single Acquisition Loan in Dollars to Borrower on the Effective Date in the original aggregate principal amount equal to its Acquisition Loan Commitment or its Applicable Percentage of the amount of all Acquisition Loans requested by Borrower. Amounts paid or prepaid in respect of Acquisition Loans may not be reborrowed. To the extent Borrower requests less than all of the aggregate Acquisition Loan Commitments for funding on the Effective Date, the remaining unfunded commitment shall be deemed terminated at the end of business on the Effective Date.
Acquisition Loan Commitment. On the terms and subject to the conditions of this Agreement, from time to time on any Business Day occurring prior to the Acquisition Loan Conversion Date, each Lender will make Loans (relative to such Lender, its "ACQUISITION LOANS") to the Borrower equal to such Lender's Percentage of the aggregate amount of the Borrowing of Acquisition Loans requested by the Borrower to be made on such day. The Commitment of each Lender described in this SECTION 2.1.2 is herein referred to as its "ACQUISITION LOAN COMMITMENT". On the terms and subject to the conditions hereof, the Borrower may from time to time borrow, prepay and reborrow Acquisition Loans at any time prior to the Acquisition Loan Conversion Date.
Acquisition Loan Commitment. Each Lender will make loans on a revolving basis ("Acquisition Loans") from time to time until the Termination Date in such Lender's Pro Rata Share of such aggregate amounts as the Company may request from all Lenders; provided that the aggregate principal amount of all outstanding Acquisition Loans will not at any time exceed the Acquisition Commitment Amount.
Acquisition Loan Commitment. Subject to the terms and conditions of this Agreement, during the period from the date of this Agreement to but excluding December 29, 2000, provided that no Event of Default then has occurred and is continuing, Bank will make a term loan (the "Acquisition Loan") to Borrower in a single disbursement as Borrower may request in the principal amount of Ten Million Dollars ($10,000,000) (the "Acquisition Loan Commitment"). Borrower's obligation to repay the principal amount of the Acquisition Loan, together with accrued interest thereon, shall be evidenced by a promissory note issued by Borrower in favor of Bank (the "Acquisition Note") on the standard form used by Bank to evidence its commercial loans. The Acquisition Note shall replace and supersede that certain Promissory Note (Base Rate) dated June 12, 2000, issued by Borrower in favor of Bank pursuant to the Prior Agreement. The Acquisition Note shall provide for payments of principal and interest as set forth therein. On the Business Day that is exactly four (4) years after the date of the Acquisition Loan (the "Acquisition Loan Maturity Date"), all unpaid principal of and accrued but unpaid interest on the Acquisition Loan shall be due and payable. The proceeds of the Acquisition Loan shall be disbursed for the purposes set forth in Section 2.4(b) hereof pursuant to disbursement instructions provided to Bank on Bank's standard form therefor.
Acquisition Loan Commitment. Prior to the Acquisition Loan Commitment Expiry Date, each Lender severally and not jointly agrees, subject to the terms and conditions hereof, to make Acquisition Loans (each, individually, an “Acquisition Loan” and, collectively, the “Acquisition Loans”) in U.S. Dollars to Borrowers from time to time up to the amount of such Lender’s Acquisition Loan Commitment in effect at such time. The sum of the aggregate principal amount of Acquisition Loans at any time outstanding shall not exceed the Acquisition Loan Commitments in effect at such time. Each Borrowing of Acquisition Loans shall be made ratably by the Lenders in proportion to their respective Acquisition Loan Percentages. As provided in Section 1.6(a), and subject to the terms hereof, Borrower Representative may elect that each Borrowing of Acquisition Loans be either Base Rate Loans or Eurodollar Loans. Acquisition Loans may be repaid and the principal amount thereof reborrowed before the Acquisition Loan Commitment Expiry Date, subject to the terms and conditions hereof.
Acquisition Loan Commitment. . . . . 29 2.1.3 Lenders Not Permitted or Required to Make Loans . . . . . . . . . . . . . . . . . . . 29 2.2
Acquisition Loan Commitment. Subject to the terms and conditions set forth herein, the Lender agrees to make the Term Loan to the Borrowers, on the Effective Date in a principal amount not exceeding the Term Commitment. Amounts repaid in respect of the Term Loan may not be reborrowed.
Acquisition Loan Commitment. Bank agrees, on the terms and conditions set forth in this Agreement, to make Advances to Borrowers, in an amount not to exceed the Acquisition Loan Commitment at such time (the “Acquisition Loan”).
Acquisition Loan Commitment. Subject to the terms and conditions of this Agreement and the Other Agreements, from time to time after the initial Loans are advanced hereunder and the Initial Syndication has been completed, each Lender severally and not jointly agrees to make with respect to a Permitted Acquisition, an advance to Cantar U.S. equal to the sum of (i) up to eighty-five percent (85%) of the Eligible Accounts acquired in connection with such Permitted Acquisition, (ii) up to sixty percent (60%) of the Eligible Inventory acquired in connection with such Permitted Acquisition, (iii) up to eighty percent (80%) of the orderly liquidation value of Equipment acceptable to Agent in its sole discretion acquired in connection with such Permitted Acquisition (as determined by an appraiser reasonably acceptable to Agent), and (iv) up to seventy percent (70%) fair market value of real property acceptable to Agent in its sole discretion acquired in connection with such Permitted Acquisition (as determined by an appraiser reasonably acceptable to Agent), in each case such amounts to be subject to Lenders' due diligence (including, without limitation, collateral audits) and, with respect to advances pursuant to clauses (i) and (ii) above, any reserves Agent deems appropriate, provided, that the aggregate amount advanced by any Lender shall not exceed its Acquisition Loan Commitment. Each advance with respect to a Permitted Acquisition shall be designated by Requisite Lenders as a Revolving Loan, an Additional Term Loan A and/or an Additional Term Loan B as follows: all or a portion of such advance up to an amount equal to the sum of the amounts set forth in clauses (i) and (ii) of this subsection 2(f) (net of adjustments after completion of Lenders' due diligence and reserves established by Agent) shall be designated as Revolving Loans; after such designation of the Revolving Loans, any remaining portion of the advance shall be designated as an Additional Term Loan A up to the amount set forth in clause (iii) of this subsection 2(f) (net of adjustments after completion of Lenders' due diligence established by Agent); and after such designation of Revolving Loans and Additional Term Loan A, any remaining portion of such advance shall be designated as an Additional Term Loan B. A request for an advance under this subsection 2(f) shall be made or shall be deemed to be made, each in the following manner: Cantar U.S. shall give Agent at least thirty (30) Business Days prior written notice of it...
