Aggregate Revolving Credit Commitment Sample Clauses
The Aggregate Revolving Credit Commitment clause defines the total maximum amount of credit that lenders collectively agree to make available to the borrower under a revolving credit facility. This clause specifies the overall credit limit, which may be drawn, repaid, and redrawn by the borrower during the term of the agreement, subject to certain conditions. By establishing a clear ceiling on the funds accessible at any one time, the clause ensures both parties understand the financial boundaries of the arrangement and helps manage the lender's risk exposure.
Aggregate Revolving Credit Commitment. If, as of the most recent Revaluation Date or at any time (as determined by the Administrative Agent under Section 2.4(b)(v)), based upon the Dollar Amount of all Revolving Credit Outstandings, (A) solely because of currency fluctuation, the outstanding principal amount of all Revolving Credit Loans plus the sum of all outstanding Swingline Loans and L/C Obligations exceeds one hundred and five percent (105%) of the Revolving Credit Commitment or (B) for any other reason, the outstanding principal amount of all Revolving Credit Loans plus the sum of all outstanding Swingline Loans and L/C Obligations exceeds the Revolving Credit Commitment, then, in each such case, the U.S. Borrower shall, or shall cause a Subsidiary Borrower to, as applicable, (1) first, if (and to the extent) necessary to eliminate such amount in excess of the Revolving Credit Commitment, immediately repay outstanding Swingline Loans (and/or reduce any pending request for a borrowing of such Swingline Loans submitted in respect of such Swingline Loans on such day) in an amount equal to the Dollar Amount of such amount in excess of the Revolving Credit Commitment, (2) second, if (and to the extent) necessary to eliminate such amount in excess of the Revolving Credit Commitment, immediately repay outstanding Revolving Credit Loans which are Base Rate Loans (and/or reduce any pending requests for a borrowing or continuation or conversion of such Loans submitted in respect of such Loans on such day) in an amount equal to the Dollar Amount of such amount in excess of the Revolving Credit Commitment, (3) third, if (and to the extent) necessary to eliminate such amount in excess of the Revolving Credit Commitment, immediately repay outstanding Revolving Credit Loans which are LIBOR Rate Loans denominated in Dollars (and/or reduce any pending requests for a borrowing or continuation or conversion of such Loans submitted in respect of such Loans on such day) in an amount equal to the Dollar Amount of such amount in excess of the Revolving Credit Commitment, (4) fourth, if (and to the extent) necessary to eliminate such amount in excess of the Revolving Credit Commitment, immediately repay outstanding Alternative Currency Revolving Credit Loans (and/or reduce any pending requests for a borrowing or continuation or conversion of such Loans submitted in respect of such Loans on such day) in an amount equal to the Dollar Amount of such amount in excess of the Revolving Credit Commitment and (5) fifth...
Aggregate Revolving Credit Commitment. Subject to the terms of this Agreement, the Borrower may borrow, repay and reborrow Revolving Loans at any time prior to the Facility Termination Date. The Revolving Credit Commitments to extend credit hereunder shall expire on the Facility Termination Date. The LC Issuer will issue Facility LCs hereunder on the terms and conditions set forth in Section 2.22.
Aggregate Revolving Credit Commitment. If at any time the sum of the outstanding principal amount of all Loans and all outstanding L/C Obligations exceeds the lesser of (A) the Aggregate Revolving Credit Commitment and (B) the Borrowing Base then in effect, the Borrower agrees to repay immediately upon notice from the Administrative Agent, by payment to the Administrative Agent for the account of the Lenders, Revolving Credit Loans or Swingline Loans and/or furnish cash collateral reasonably satisfactory to the Administrative Agent in connection with L/C Obligations, as applicable in an amount sufficient to eliminate such excess; provided, however, that the Borrower shall not be required to furnish cash collateral for the L/C Obligations pursuant to this Section 2.3(b)(i) unless (and only to the extent that) after the prepayment in full of all Loans the aggregate amount of all outstanding L/C Obligations exceeds the lesser of (A) the L/C Commitment and (B) the Borrowing Base then in effect. Any such cash collateral shall be applied in accordance with Section 11.2(b). Any repayment of such Offshore Rate Loans other than on the last day of the Interest Period applicable thereto shall be accompanied by any amount required to be paid pursuant to Section 4.9 hereof.