Additional Revolving Loans. Agent shall not make any Revolving Loans or provide any Letter of Credit Accommodations to Borrowers on behalf of Lenders intentionally and with actual knowledge that such Revolving Loans or Letter of Credit Accommodations would cause the aggregate amount of the total outstanding Revolving Loans and Letter of Credit Accommodations to Borrowers to exceed the Borrowing Base, without the prior consent of all Lenders, provided, that notwithstanding any provision to the contrary, Agent may make any such additional Revolving Loan or Letter of Credit Accommodation so long as: (a) the total principal amount of such additional Revolving Loans or such additional Letter of Credit Accommodations together with the principal amount of Special Agent Advances made pursuant to Section 12.11 hereof, shall not exceed the least of (i) $7,500,000, (ii)the sum of (x) the amount which, when added to all other Revolving Loans, Letter of Credit Accommodations and Special Agent Advances, would not cause the principal amount of all outstanding Revolving Loans, Letter of Credit Accommodations and Special Agent Advances to exceed the Borrowing Base and (y) if applicable, an amount equal to any reduction, made with the consent of all Lenders, of the Excess Availability required by Section 9.17 hereof, and (iii) the amount which would not cause the total principal amount of all Revolving Loans, Letter of Credit Accommodations and Special Agent Advances to exceed the Revolving Loan Limit, and (b) no such additional Revolving Loans or Letter of Credit Accommodations shall be outstanding more than ninety (90) days after the date such additional Revolving Loan or Letter of Credit Accommodation is made or issued (as the case may be), except as the Required Lenders may otherwise agree. Each Lender shall be obligated to pay Agent the amount of its Pro Rata Share of any such additional Revolving Loans or Letter of Credit Accommodations.
Additional Revolving Loans. The unpaid principal balance of additional revolving Loans (the "Additional Revolving Loans"); provided that the unpaid principal balance of the Additional Revolving Loans shall not exceed the following (the "Additional Revolving Loan Limit"): the sum of $6,500,000, effective on the date hereof, reducing by $217,000 on March 31, 1997 and by $217,000 on the last day of each succeeding month, until the earlier of (i) the date this Agreement terminates or is terminated, or (ii) August 31, 1999. At the earlier of said dates the Additional Revolving Loan Limit shall be reduced to zero, and after said date no further Additional Revolving Loans will be made. -------------------------------------------------------------------------------- --------------------------------------------------------------------------------
Additional Revolving Loans. Subject to Section 2.1(a), the Borrowers may request additional Revolving Loans with respect to the then existing Revolving Loan Collateral; provided that (A) such request is subject to the Administrative Agent’s approval in its discretion, (B) before and after giving effect to such Extension of Credit, the Availability is not and would not be negative, (C) no Default or Event of Default exists, (D) the Borrowers deliver a Notice of Borrowing and Compliance Certificate, the Construction Draw Deliveries to the extent the Extension of Credit relates to a Construction Loan or involves construction and such other information and documents as the Administrative Agent shall require in its discretion at least three (3) Business Days prior to the requested Borrowing Date and (E) to the extent approved by the Administrative Agent, the Administrative Agent shall notify the Borrowers of the amount of Revolving Loans so approved and the Borrowers and the Administrative Agent shall execute one (1) or more amended Confirmations evidencing the new Allocated Revolving Loan Amounts for the Revolving Loan Collateral with respect to which the Administrative Agent has determined to permit such additional Extension of Credit, together with such other terms and conditions as the Administrative Agent may require in its discretion, and the Borrowers shall deliver to the Custodian any additional Mortgage Loan Documents, as applicable, in connection with such funding. Unless the Administrative Agent notifies the Borrowers in writing of its approval of such Revolving Loans, the Administrative Agent shall be deemed not to have approved such request.
Additional Revolving Loans. (i) Upon the satisfaction of the -------------------------- applicable conditions precedent set forth in Sections 4.1, 4.2 and 4.3, ------------ --- --- from and including the date of this Agreement and prior to the Additional Revolving Loan Termination Date, each Additional Revolving Lender severally and not jointly agrees, on the terms and conditions set forth in this Agreement (including, without limitation, the terms and conditions of Section 2.5.11 and Section 8.1 relating to the reduction, suspension or -------------- ----------- termination of the Aggregate Additional Revolving Loan Commitment), to make revolving loans (each individually, an "Additional Revolving Loan" and, collectively, the "Additional Revolving Loans") in Dollars to the Company from time to time in a Dollar Amount not to exceed such Lender's Additional Revolving Loan Percentage of the lesser of (x) Aggregate Additional Revolving Loan Commitment at such time and (y) the Borrowing Base minus the Revolving Credit Obligations at such time; provided that no Additional -------- Revolving Lender shall be required to make any Additional Revolving Loan unless, at the time of such proposed Additional Revolving Loan, the Revolving Credit Availability shall be zero. Subject to the terms of this Agreement (including, without limitation, the terms and conditions of Section 2.5.11 and 8.1 relating to the reduction, suspension or termination -------------- --- of the Aggregate Additional Revolving Loan Commitment), the Company may borrow, repay and reborrow Additional Revolving Loans at any time prior to the Additional Revolving Loan Termination Date. Unless earlier terminated in accordance with the terms and conditions of this Agreement, the Additional Revolving Loan Commitments of the Additional Revolving Lenders to lend hereunder shall expire on the Additional Revolving Loan Termination Date. The proceeds of all Additional Revolving Loans made under this Section 2.1.1 shall be used in accordance with the terms of Section 6.2. ------------- ----------- All outstanding Additional Revolving Loans shall be paid in full by the Company on the Additional Revolving Loan Termination Date.
Additional Revolving Loans. 1.1 This Amendment is entered into pursuant to Section 2.5 of the Credit Agreement in order to increase the Aggregate Revolving Committed Amount by establishing Additional Revolving Loans in the aggregate amount of $25,000,000.
Additional Revolving Loans. So long as no Default has occurred and is continuing, from time to time after the Effective Date, Borrower may, upon at least 30 days’ prior written notice to the Administrative Agent (who shall promptly provide a copy of such notice to each Lender), propose to increase the aggregate amount of the Revolving Credit Commitments by an amount not to exceed $10,000,000 (the amount of any such increase, the “Additional Revolving THIRD AMENDED AND RESTATED CREDIT AGREEMENT 38 Commitment Amount”) such that after giving effect to such increase, the aggregate amount of the Lenders’ Revolving Credit Commitments does not exceed $25,000,000; provided that at no time shall the aggregate amount of the Lenders’ Revolving Credit Commitments plus the aggregate principal amount of all outstanding Term Loans exceed $40,000,000. Each Lender shall have the right for a period of 15 days following receipt of such notice, to elect by written notice to the Borrower and the Administrative Agent to increase its Revolving Credit Commitment by a principal amount equal to its Applicable Percentage of the Additional Revolving Commitment Amount. No Lender (or any successor thereto) shall have any obligation to increase its Revolving Credit Commitment or its other obligations under this Agreement and the other Loan Documents, and any decision by a Lender to increase its Revolving Credit Commitment shall be made in its sole discretion independently from any other Lender.
Additional Revolving Loans. (a) Subject to the terms and conditions of this Agreement and the Related Agreements, and in reliance upon the warranties of Borrower set forth herein and in the Related Agreements, Lender agrees to make such loans or advances (individually each an "Additional Revolving Loan" and collectively the "Additional Revolving Loans") from time to time before the Termination Date to Borrower as Borrower may from time to time request; provided, however, that the aggregate principal amount of all Additional Revolving Loans at any time outstanding shall not exceed the Additional Revolving Credit Amount. Additional Revolving Loans may be repaid and, subject to the terms and conditions hereof, reborrowed to but not including the Termination Date unless the Credit is otherwise terminated as provided in this Agreement.
(b) All Additional Revolving Loans hereunder shall be paid by Borrower on the Termination Date, unless payable sooner pursuant to the provisions of this Agreement, but may, at Borrower's election, be repaid in whole or in part at any time prior to such date without premium or penalty.
Additional Revolving Loans. Effective as of the Ninth Amendment Effective Date upon satisfaction of the conditions precedent set forth in Section 4.2;
Additional Revolving Loans. In addition to the Initial Revolving Loan, and subject to the terms and conditions set forth herein, the Lender agrees to make additional Revolving Loans (the “Additional Revolving Loans”) to the Borrower upon request from the Borrower, from time to time, on any Banking Day during the Availability Period, in an aggregate amount for all Revolving Loans outstanding not to exceed at any time the amount of the Lender’s Revolving Commitment.
Additional Revolving Loans. Effective as of the date hereof, Section 2.15(a) of the Agreement is hereby deleted in its entirety.
