Additional Revolving Credit Commitments Sample Clauses

Additional Revolving Credit Commitments. (a) On the Amendment No. 2 Effective Date, each Additional Revolving Credit Lender shall provide, severally but not jointly, a Revolving Credit Commitment in a principal amount equal to its Additional Revolving Credit Commitment. The Revolving Credit Commitments of each Revolving Credit Lender under the Amended Credit Agreement shall be as set forth in Schedule III attached hereto.
AutoNDA by SimpleDocs
Additional Revolving Credit Commitments. Subject to the terms and conditions set forth herein, the Borrower may at any time, but not more often than two (2) times during the term of this Agreement, request an increase in the Revolving Credit Commitment (the “Additional Revolving Credit Commitment”) provided that (a) immediately prior to and after giving effect to such Additional Revolving Credit Commitment (and the making of any loans pursuant thereto), no Event of Default or Potential Default has occurred or is continuing or shall result therefrom and, (b) the Additional Revolving Credit Commitment shall rank pari passu in right of payment and right of security in respect of the Collateral with the existing Revolving Credit Loans, (c) the Additional Revolving Credit Commitments shall not exceed in the aggregate Fifty Million and 00/100 Dollars ($50,000,000.00), and (d) the loans to be made pursuant to such Additional Revolving Credit Commitment shall have the same terms as the Revolving Credit Loans. Any additional bank, financial institution, existing Lender or other Person that elects to extend commitments to provide the Additional Revolving Credit Commitment shall be reasonably satisfactory to the Borrower and the Administrative Agent (any such bank, financial institution, existing Lender or other person is an “Additional Lender”) and shall become a Lender under this Agreement pursuant to an amendment (the “Incremental Facility Amendment”) to this Agreement, and, as appropriate, the other Loan Documents, executed by the Loan Parties, each Additional Lender, if any, and the Administrative Agent. Commitments in respect of the Additional Revolving Credit Commitment shall become Commitments under this Agreement after giving effect to such Additional Revolving Credit Commitment. The Incremental Facility Amendment may, without the consent of any other Lenders, effect such amendments to this Agreement and the other Loan Documents as may be reasonably necessary or appropriate to effectuate the applicable additional Revolving Credit Commitments in the opinion of the Administrative Agent. The effectiveness of any Incremental Facility Amendment shall be subject to the satisfaction on the date thereof (the “Incremental Facility Closing Date”) of each of the applicable conditions set forth in Article 7 [Conditions of Lending and Issuance of Letters of Credit] (it being understood that all references to the Closing Date in such Article 7 [Conditions of Lending and Issuance of Letters of Credit] shall be de...
Additional Revolving Credit Commitments. Each Commitment Increase Lender hereby acknowledges that it has provided a U.S. Revolving Credit Commitment in the amount set forth opposite such Commitment Increase Lender’s name on Schedule 2.01 to this Agreement under the caption “U.S. Revolving Credit Commitment”. Each of the Loan Parties and each Commitment Increase Lender hereby agrees that from and after the Effective Date, each such Commitment Increase Lender shall be a “U.S. Revolving Credit Lender” for all purposes under the Credit Agreement and the other Loan Documents.
Additional Revolving Credit Commitments. Subject to the terms and conditions set forth herein and in reliance upon the representations and warranties set forth herein, (a) each of the Agent, Swingline Bank and the Issuing Banks party to this Amendment hereby consent to the Incremental Revolving Credit Facility Increase and the New Bank becoming a Revolving Credit Bank and a Bank under the Credit Agreement and (b) the New Bank severally agrees to become a Revolving Credit Bank and a Bank under the terms of the Credit Agreement and provide a Revolving Credit Commitment to the Borrowers in the principal amount set forth opposite the New Bank’s name on Schedule 1.1(a) attached hereto as Annex A.
Additional Revolving Credit Commitments. The Amendment No. 5 Refinancing Revolving Credit Commitments shall be one Class with the Amendment No. 5 Additional Revolving Credit Commitments. Any Letters of Credit outstanding immediately prior to the Amendment No. 5 Effective Date shall automatically be deemed to be issued under the Revolving Credit Commitments provided on the Amendment No. 5
Additional Revolving Credit Commitments. 2.1 Each Commitment Increase Lender hereby acknowledges and agrees that it hereby provides an increase to its Revolving Credit Commitment or a new Revolving Credit Commitment, as the case may be, in the amount set forth opposite such Commitment Increase Lender’s name on Schedule I to this Amendment and each party hereto acknowledges and agrees that, after giving effect to the terms and provisions of this Amendment, including, without limitation, the proposed Commitment Increase, the Revolving Credit Commitments of each Lender shall be as set forth on Schedule II to this Amendment.
Additional Revolving Credit Commitments. The Borrower may at any time prior to the date six (6) months after the date of Amendment No. 3 to the Credit Agreement, upon prior written notice by the Borrower to the Administrative Agent, increase the Total Revolving Credit Commitment by up to TEN MILLION DOLLARS ($10,000,000) with additional Revolving Credit Commitments from any existing Lender or new Revolving Credit Commitments from any other Person selected by the Borrower and approved by the Administrative Agent; provided that:
AutoNDA by SimpleDocs
Additional Revolving Credit Commitments 

Related to Additional Revolving Credit Commitments

  • Revolving Credit Commitments (a) Subject to the terms and conditions hereof, the Revolving Credit Lenders severally agree to make Standby Loans to the Borrowers from time to time during the Revolving Credit Commitment Period, in Dollars or one or more Alternative Currencies (as specified in the Borrowing Requests with respect thereto), in an aggregate principal amount at any one time outstanding for each Revolving Credit Lender which will not result in such Revolving Credit Lender’s Committed Credit Exposure, when added to such Lender’s Revolving Credit Percentage of the L/C Obligations then outstanding, exceeding the amount of such Revolving Credit Lender’s Revolving Credit Commitment, subject, however, to the conditions that (i) at no time shall (A) the sum of (I) the aggregate Committed Credit Exposure of all the Revolving Credit Lenders, plus (II) the outstanding aggregate principal amount or Assigned Dollar Value of all Competitive Loans made by all Revolving Credit Lenders, plus (III) the L/C Obligations of all Revolving Credit Lenders exceed (B) the Total Revolving Credit Commitments and (ii) at all times the outstanding aggregate principal amount of all Standby Loans made by each Lender shall equal such Lender’s Revolving Credit Percentage of the outstanding aggregate principal amount of all Standby Loans made pursuant to Section 2.07. During the Revolving Credit Commitment Period any Borrower may use the Revolving Credit Commitments by borrowing, prepaying the Standby Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. The Standby Loans may from time to time be Eurocurrency Loans or Base Rate Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Section 2.05 and Section 2.13. Notwithstanding any provision to the contrary herein, the sum of (x) the aggregate Revolving Credit Loans made to Approved Borrowers that are Foreign Subsidiaries and (y) the aggregate L/C Obligations of all Revolving Credit Lenders in respect of Letters of Credit issued for the account of Approved Borrowers that are Foreign Subsidiaries shall not exceed $25,000,000 in the aggregate at any time outstanding.

  • Revolving Loan Commitments Lender will make loans to Borrower on a revolving basis (“Revolving Loans”) from time to time and Borrower may repay such loans from time to time until the Termination Date in such amounts as Borrower may request from Lender; provided, that after giving effect to such Revolving Loans, the Revolving Loans outstanding will not at any time exceed the Borrowing Availability.

Time is Money Join Law Insider Premium to draft better contracts faster.