Amount and Nature of Credit. Subject to the terms and conditions of this Agreement, each Lender will, to the extent hereinafter provided, make Loans to Borrowers, and participate in Letters of Credit issued at the request of Borrowers, in such aggregate amount as Borrowers shall request pursuant to the Commitment; provided, however, that in no event shall the aggregate principal amount of all Loans and Letter of Credit Exposure outstanding under this Agreement be in excess of the Total Commitment Amount. Each Lender, for itself and not for any other Lender, agrees to make Loans and to participate in Letters of Credit issued hereunder during the Commitment Period on such basis that (a) immediately after the completion of any borrowing by Borrowers or issuance of a Letter of Credit hereunder, the aggregate principal amount then outstanding on the Loans held by such Lender, when combined with such Lender’s Pro Rata Share of the Letter of Credit Exposure, shall not be in excess of the Maximum Amount for such Lender, (b) the aggregate principal amount outstanding of all outstanding Revolving Loans held such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Revolving Loans (including the Revolving Loans held by such Lender) which is not in excess of such Lender’s Applicable Commitment Percentage with respect thereto; and (c) such aggregate principal amount outstanding on the Loans held such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Loans (including the Loans held by such Lender) that is not in excess of such Lender’s Aggregate Commitment Percentage. Each borrowing from the Lenders hereunder shall be made on a Pro Rata Basis according to the Lenders’ respective Applicable Commitment Percentages. The Loans may be made as Revolving Loans and Letters of Credit may be issued, as follows:
Appears in 4 contracts
Samples: Credit and Security Agreement, Credit and Security Agreement (Ultralife Corp), Credit and Security Agreement (Regional Brands Inc.)
Amount and Nature of Credit. (a) Subject to the terms and conditions of this Agreement, each Lender willthe Lenders, during the Commitment Period and to the extent hereinafter provided, shall make Loans to BorrowersBorrower, participate in Swing Loans made by the Swing Line Lender to Borrower, and issue or participate in Letters of Credit issued at the request of BorrowersBorrower, in such aggregate amount as Borrowers Borrower shall request pursuant to the Commitment; provided, however, that in no event shall the aggregate principal amount of all Loans and Letter of Revolving Credit Exposure outstanding under this Agreement be in excess of the Total Commitment Amount. .
(b) Each Lender, for itself and not one for any other Lenderother, agrees to make Loans Loans, participate in Swing Loans, and to issue or participate in Letters of Credit issued hereunder Credit, during the Commitment Period Period, on such basis that (a) that, immediately after the completion of any borrowing by Borrowers Borrower or the issuance of a Letter of Credit hereunder, Credit:
(i) the aggregate outstanding principal amount then outstanding on the of Loans held made by such Lender (other than Swing Loans made by the Swing Line Lender), when combined with such Lender’s Pro Rata Share pro rata share, if any, of the Letter of Credit Exposure and the Swing Line Exposure, shall not be in excess of the Maximum Amount for such Lender, ; and
(bii) the aggregate outstanding principal amount outstanding of all outstanding Revolving Loans held such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Revolving Loans (including the Revolving Loans held other than Swing Loans) made by such Lender) which is not in excess of such Lender’s Applicable Commitment Percentage with respect thereto; and (c) such aggregate principal amount outstanding on the Loans held such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Loans (including the Loans held by such Lenderother than Swing Loans) that is not in excess of together with such Lender’s Aggregate interest in the Letter of Credit Exposure and the Swing Line Exposure that shall be such Lender’s Commitment Percentage. Each borrowing (other than Swing Loans) from the Lenders hereunder shall be made on a Pro Rata Basis pro rata according to the respective Commitment Percentages of the Lenders’ respective Applicable Commitment Percentages. .
(c) The Loans may be made as Revolving Loans as described in Section 2.2(a) hereof and Swing Loans as described in Section 2.2(c) hereof, and Letters of Credit may be issued, as follows:issued in accordance with Section 2.2(b) hereof.
Appears in 3 contracts
Samples: Credit Agreement (Cintas Corp), Credit Agreement (Cintas Corp), Credit Agreement (Teletech Holdings Inc)
Amount and Nature of Credit. Subject to the terms and conditions of this Agreement, each Lender will, Bank will participate to the extent hereinafter provided, make provided in making Loans to BorrowersBorrower, and participate in issuing Letters of Credit issued at the request of BorrowersBorrower, in such aggregate amount as Borrowers Borrower shall request pursuant to the Commitment; provided, however, that in no event shall the aggregate principal amount of all Loans and Letter Letters of Credit Exposure outstanding under this Agreement be in excess of the Total Commitment Amount. Each LenderBank, for itself and not one for any other Lenderother, agrees to make Loans and to participate in Loans made and Letters of Credit issued hereunder during the Commitment Period on such basis that (a) immediately after the completion of any borrowing of Revolving Loans by Borrowers Borrower or issuance of a Letter of Credit hereunder, the aggregate principal amount then outstanding on the Loans held by Revolving Credit Notes issued to such LenderBank, when combined with such LenderBank’s Pro Rata Share pro rata share of the Letter of Credit Exposure, shall not be in excess of the Maximum Amount Revolving Credit Commitment for such LenderBank, and (b) the such aggregate principal amount outstanding of all outstanding on the Revolving Loans held Credit Notes issued to such Lender Bank shall represent that percentage of the aggregate principal amount then outstanding on all Revolving Loans Credit Notes (including the Revolving Loans Credit Notes held by such Lender) which is not in excess of such Lender’s Applicable Commitment Percentage with respect thereto; and (c) such aggregate principal amount outstanding on the Loans held such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Loans (including the Loans held by such LenderBank) that is not in excess of such LenderBank’s Aggregate Commitment Percentage. Each borrowing from the Lenders Banks hereunder shall be made on a Pro Rata Basis pro rata according to the LendersBanks’ respective Applicable Commitment Percentages. The Loans may be made as Revolving Loans or Swing Line Loans, and Letters of Credit may be issued, as follows:
Appears in 3 contracts
Samples: Credit Agreement (Davey Tree Expert Co), Credit Agreement (Davey Tree Expert Co), Credit Agreement (Davey Tree Expert Co)
Amount and Nature of Credit. (a) Subject to the terms and conditions of this Agreement, each Lender willthe Lenders, during the Commitment Period and to the extent hereinafter provided, shall make Revolving Loans to Borrowers, participate in Swing Loans made by the Swing Line Lender to US Borrower, and participate in Letters of Credit issued at the request of BorrowersAdministrative Borrower, in such aggregate amount as Borrowers shall request pursuant to the Commitment; provided, however, provided that in no event shall the aggregate principal amount of all Loans and Letter Letters of Credit Exposure outstanding under this Agreement be in excess of the Total Commitment Revolving Amount. .
(b) Each Lender, for itself and not one for any other Lenderother, agrees to make Loans Revolving Loans, participate in Swing Loans, and to participate in Letters of Credit issued hereunder Credit, during the Commitment Period Period, on such basis that (a) that, immediately after the completion of any borrowing by Borrowers or the issuance of a Letter of Credit hereunder, Credit:
(i) the Dollar Equivalent of the aggregate outstanding principal amount then outstanding on the of Loans held made by such Lender (other than Swing Loans made by the Swing Line Lender), when combined with such Lender’s Pro Rata Share pro rata share of the Letter of Credit Exposure and the Swing Line Exposure, shall not be in excess of the Maximum Revolving Amount for such Lender, ; and
(bii) the aggregate outstanding principal amount outstanding of all outstanding Revolving Loans held such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Revolving Loans (including the Revolving Loans held other than Swing Loans) made by such Lender) which is not in excess of such Lender’s Applicable Commitment Percentage with respect thereto; and (c) such aggregate principal amount outstanding on the Loans held such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Loans (including the Loans held by such Lenderother than Swing Loans) that is not in excess of shall be such Lender’s Aggregate Commitment Percentage. Each borrowing (other than Swing Loans which shall be risk participated on a pro rata basis) from the Lenders hereunder shall be made on a Pro Rata Basis pro rata according to the respective Commitment Percentages of the Lenders’ respective Applicable Commitment Percentages. .
(c) The Loans may be made as Revolving Loans as described in Section 2.2(a) hereof and as Swing Loans as described in Section 2.2(c) hereof, and Letters of Credit may be issued, as follows:issued in accordance with Section 2.2(b) hereof.
Appears in 3 contracts
Samples: Credit Agreement (TTEC Holdings, Inc.), Credit Agreement (Teletech Holdings Inc), Credit Agreement (Teletech Holdings Inc)
Amount and Nature of Credit. Subject to the terms and conditions provisions of this Agreement, each Lender will, Bank shall participate to the extent hereinafter provided, make provided in making Loans to BorrowersBorrower, and participate in issuing Letters of Credit issued at the request of BorrowersBorrower, in such aggregate amount as Borrowers Borrower shall request pursuant to the Commitment; provided, however, that in no event shall the aggregate principal amount of all Loans and Letter Letters of Credit Exposure outstanding under this Agreement during the Commitment Period be in excess of the Total Commitment Amount. Each LenderBank, for itself and not one for any other Lenderother, agrees to make Loans and to participate in Loans made and Letters of Credit issued hereunder during the Commitment Period on such basis that (a) immediately after the completion of any borrowing by Borrowers Borrower or issuance of a Letter of Credit hereunder, the aggregate principal amount then outstanding on the Loans held by Notes issued to such LenderBank, when combined with such Lender’s Pro Rata Share Bank's pro rata share of the Letter aggregate undrawn face amount of issued and outstanding Letters of Credit Exposure(but specifically excluding any Competitive Bid Loans payable to such Bank), shall not be in excess of the amount shown opposite the name of such Bank under the column headed "Maximum Amount for such LenderAmount" as set forth in Schedule 1 hereto, and (b) the such aggregate principal amount outstanding of all outstanding Revolving Loans held on the Notes issued to such Lender Bank shall represent that percentage of the aggregate principal amount then outstanding on all Revolving Loans Notes (including the Revolving Loans Notes held by such LenderBank but specifically excluding any Competitive Bid Rate Note) which is not in excess of such Lender’s Applicable Commitment Percentage with respect thereto; and (c) such aggregate principal amount outstanding on the Loans held such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Loans (including the Loans held by such Lender) that is not in excess of such Lender’s Aggregate Bank's Commitment Percentage. Each borrowing from the Lenders Banks hereunder (except for Competitive Bid Loans) shall be made on a Pro Rata Basis pro rata according to the Lenders’ Banks' respective Applicable Commitment Percentages. The Loans may shall be made as Revolving Loans and the Letters of Credit may shall be issued, as follows:
Appears in 2 contracts
Samples: Credit Agreement (Amcast Industrial Corp), Credit Agreement (Amcast Industrial Corp)
Amount and Nature of Credit. (a) Subject to the terms and conditions of this Agreement, each Lender willthe Lenders, during the applicable Commitment Periods and to the extent hereinafter provided, shall make Loans to Borrowers, participate in Swing Loans made by the Swing Line Lender to Core Molding and issue or participate in Letters of Credit issued and the IDRB Letter of Credit at the request of BorrowersAdministrative Borrower, in such aggregate amount as Borrowers shall request pursuant to the Commitment; provided, however, provided that in no event shall the aggregate principal amount of all Loans Loans, Letters of Credit and the IDRB Letter of Credit Exposure outstanding under this Agreement be in excess of the Total Commitment Amount. .
(b) Each Lender, for itself and not one for any other Lenderother, agrees to make Loans Loans, participate in Swing Loans, and to issue or participate in Letters of Credit issued hereunder and the IDRB Letter of Credit, during the applicable Commitment Period Periods, on such basis that (a) that, immediately after the completion of any borrowing by Borrowers or the issuance of a Letter of Credit hereunder, or the IDRB Letter of Credit:
(i) the aggregate outstanding principal amount then outstanding on the of Loans held made by such Lender (other than Swing Loans made by the Swing Line Lender), when combined with such Lender’s Pro Rata Share pro rata share, if any, of the Letter of Credit Exposure and the Swing Line Exposure, shall not be in excess of the Maximum Amount for such Lender, ; and
(bii) the aggregate outstanding principal amount outstanding of all outstanding Revolving Loans held such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Revolving Loans (including the Revolving Loans held other than Swing Loans) made by such Lender) which is not in excess of such Lender’s Applicable Commitment Percentage with respect thereto; and (c) such aggregate principal amount outstanding on the Loans held such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Loans (including the Loans held by such Lenderother than Swing Loans) that is not in excess of shall be such Lender’s Aggregate Commitment Percentage. Each borrowing (other than Swing Loans which shall be risk participated on a pro rata basis) from the Lenders hereunder shall be made on a Pro Rata Basis pro rata according to the respective Commitment Percentages of the Lenders’ respective Applicable Commitment Percentages. .
(c) The Loans may be made as Revolving Loans as described in Section 2.2(a) hereof, as the Term Loan as described in Section 2.3 hereof, as Capex Draw Loans as described in Section 2.4(a) hereof, as the Capex Term Loan as described in Section 2.4(b) hereof, as the Mexican Loan as described in Section 2.5 hereof, and as Swing Loans as described in Section 2.2(c) hereof, and Letters of Credit may be issued, as follows:issued in accordance with Section 2.2(b) hereof and the IDRB Letter of Credit has been issued in accordance with Section 2.6 hereof.
Appears in 2 contracts
Samples: Credit Agreement (Core Molding Technologies Inc), Credit Agreement (Core Molding Technologies Inc)
Amount and Nature of Credit. (a) Subject to the terms and conditions of this Agreement, each Lender willthe Lenders, during the Commitment Period and to the extent hereinafter provided, shall make Loans to BorrowersBorrower, participate in Swing Loans made by the Swing Line Lender to Borrower, and issue or participate in Letters of Credit issued at the request of BorrowersBorrower, in such aggregate amount as Borrowers Borrower shall request pursuant to the Commitment; provided, however, that in no event shall the aggregate principal amount of all Loans and Letter of Revolving Credit Exposure outstanding under this Agreement be in excess of the Total Commitment Amount. .
(b) Each Lender, for itself and not one for any other Lenderother, agrees to make Loans Loans, participate in Swing Loans, and to issue or participate in Letters of Credit issued hereunder Credit, during the Commitment Period Period, on such basis that (a) that, immediately after the completion of any borrowing by Borrowers Borrower or the issuance of a Letter of Credit hereunder, Credit:
(i) the aggregate outstanding principal amount then outstanding on the of Loans held made by such Lender (other than Swing Loans made by the Swing Line Lender), when combined with such Lender’s Pro Rata Share pro rata share, if any, of the Letter of Credit Exposure and the Swing Line Exposure, shall not be in excess of the Maximum Amount for such Lender, ; and
(bii) the aggregate outstanding principal amount outstanding of all outstanding Revolving Loans held such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Revolving Loans (including the Revolving Loans held other than Swing Loans) made by such Lender) which is not in excess of such Lender’s Applicable Commitment Percentage with respect thereto; and (c) such aggregate principal amount outstanding on the Loans held such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Loans (including the Loans held by such Lenderother than Swing Loans) that is not in excess of shall be such Lender’s Aggregate Commitment Percentage. Each borrowing (other than Swing Loans) from the Lenders hereunder shall be made on a Pro Rata Basis pro rata according to the respective Commitment Percentages of the Lenders’ respective Applicable Commitment Percentages. .
(c) The Loans may be made as Revolving Loans as described in Section 2.2(a) hereof and Swing Loans as described in Section 2.2(c) hereof, and Letters of Credit may be issued, as follows:issued in accordance with Section 2.2(b) hereof.
Appears in 2 contracts
Samples: Credit Agreement (Teletech Holdings Inc), Credit Agreement (Teletech Holdings Inc)
Amount and Nature of Credit. (a) Subject to the terms and conditions of this Agreement, each Lender willthe Lenders, during the Commitment Period and to the extent hereinafter provided, shall make Loans to Borrowers, participate in Swing Loans made by the Swing Line Lender to Borrowers, and issue or participate in Letters of Credit issued at the request of Borrowers, in such aggregate amount as Borrowers shall request pursuant to the Commitment; provided, however, provided that in no event shall the aggregate principal amount of all Loans and Letter Letters of Credit Exposure outstanding under this Agreement be in excess of the Total Commitment Amount. .
(b) Each Lender, for itself and not one for any other Lenderother, agrees to make Loans Loans, participate in Swing Loans, and to issue or participate in Letters of Credit issued hereunder Credit, during the Commitment Period Period, on such basis that (a) that, immediately after the completion of any borrowing by Borrowers or the issuance of a Letter of Credit hereunder, Credit:
(i) the Dollar Equivalent of the aggregate outstanding principal amount then outstanding on the of Loans held made by such Lender (other than Swing Loans made by the Swing Line Lender), when combined with such Lender’s Pro Rata Share pro rata share, if any, of the Letter of Credit Exposure and the Swing Line Exposure, shall not be in excess of the Maximum Amount for such Lender, provided that the Maximum Amount for the Swing Line Lender shall exclude the Swing Line Commitment (bother than its pro rata share), and the Maximum Amount of a Fronting Lender shall exclude the Letter of Credit Commitment (other than its pro rata share); and
(ii) with respect to each Specific Commitment, the aggregate outstanding principal amount outstanding of all outstanding Revolving Loans held (other than Swing Loans) made by such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Revolving Loans (including the Revolving Loans held by such Lender) which is not in excess of such Lender’s Applicable Commitment Percentage with respect thereto; and (c) to such aggregate principal amount outstanding on the Loans held such Lender Specific Commitment shall represent that percentage of the aggregate principal amount then outstanding on all Loans (including the Loans held by other than Swing Loans) within such Lender) Specific Commitment that is not in excess of shall be such Lender’s Aggregate Applicable Commitment Percentage. Each Within each Specific Commitment, each borrowing (other than Swing Loans which shall be risk participated on a pro rata basis) from the Lenders hereunder shall be made on a Pro Rata Basis pro rata according to the Lenders’ respective Applicable Commitment Percentages. Percentages of the Lenders.
(c) The Loans may be made as Revolving Loans as described in Section 2.2(a) hereof, and as the Term Loan as described in Section 2.3 hereof, as Swing Loans as described in Section 2.2(c) hereof, and Letters of Credit may be issued, as follows:issued in accordance with Section 2.2(b) hereof.
Appears in 2 contracts
Samples: Credit Agreement (Gibraltar Industries, Inc.), Credit Agreement (Gibraltar Industries, Inc.)
Amount and Nature of Credit. (a) Subject to the terms and conditions of this Agreement, each Lender willthe Lenders, during the Commitment Period and to the extent hereinafter provided, shall make Revolving Loans to Borrowersthe Borrower, participate in Swingline Loans made by the Swingline Lender to the Borrower, and issue or participate in Letters of Credit issued at the request of Borrowersthe Borrower, in such aggregate amount as Borrowers the Borrower shall request pursuant to the Revolving Credit Commitment; provided, however, provided that in no event shall the aggregate principal amount of all Loans and Letter Letters of Credit Exposure outstanding under this Agreement be in excess of the Total Commitment Amount. .
(b) Each Lender, for itself and not one for any other Lenderother, agrees to make Loans Loans, participate in Swingline Loans, and to issue or participate in Letters of Credit issued hereunder Credit, during the Commitment Period Period, on such basis that (a) that, immediately after the completion of any borrowing by Borrowers the Borrower or the issuance of a Letter of Credit hereunder, Credit:
(i) the aggregate outstanding principal amount then outstanding on the of Loans held made by such Lender (other than Swingline Loans made by the Swingline Lender), when combined with such Lender’s Pro Rata Share pro rata share of the Letter of Credit Exposure and the Swing Line Exposure, shall not be in excess of the Maximum Amount for such Lender, ; and
(bii) the aggregate outstanding principal amount outstanding of all outstanding Revolving Loans held such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Revolving Loans (including the Revolving Loans held other than Swingline Loans) made by such Lender) which is not in excess of such Lender’s Applicable Commitment Percentage with respect thereto; and (c) such aggregate principal amount outstanding on the Loans held such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Loans (including the Loans held by such Lenderother than Swingline Loans) that is not in excess of shall be such Lender’s Aggregate Commitment Percentage. Each borrowing (other than Swingline Loans which shall be risk participated on a pro rata basis) from the Lenders hereunder shall be made on a Pro Rata Basis pro rata according to the respective Commitment Percentages of the Lenders’ respective Applicable Commitment Percentages. .
(c) The Loans may be made as Revolving Loans as described in Section 2.2(a) hereof, and as Swingline Loans as described in Section 2.2(c) hereof, and Letters of Credit may be issued, as follows:issued in accordance with Section 2.2(b) hereof.
Appears in 2 contracts
Samples: Credit and Security Agreement, Credit and Security Agreement (Kratos Defense & Security Solutions, Inc.)
Amount and Nature of Credit. (a) Subject to the terms and conditions of this Agreement, each Lender willthe Lenders, during the Commitment Period and to the extent hereinafter provided, shall make Loans to BorrowersBorrower, participate in Swing Loans made by the Swing Line Lender to Borrower, and issue or participate in Letters of Credit issued at the request of BorrowersBorrower, in such aggregate amount as Borrowers Borrower shall request pursuant to the Commitment; provided, however, provided that in no event shall the aggregate principal amount of all Loans and Letter Letters of Credit Exposure outstanding under this Agreement be in excess of the Total Commitment Amount. .
(b) Each Lender, for itself and not one for any other Lenderother, agrees to make Loans Loans, participate in Swing Loans, and to issue or participate in Letters of Credit issued hereunder Credit, during the Commitment Period Period, on such basis that (a) that, immediately after the completion of any borrowing by Borrowers Borrower or the issuance of a Letter of Credit hereunder, Credit:
(i) the aggregate outstanding principal amount then outstanding on the of Loans held made by such Lender (other than Swing Loans made by the Swing Line Lender), when combined with such Lender’s Pro Rata Share pro rata share of the Letter of Credit Exposure and the Swing Line Exposure, shall not be in excess of the Maximum Amount for such Lender, ; and
(bii) the aggregate outstanding principal amount outstanding of all outstanding Revolving Loans held such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Revolving Loans (including the Revolving Loans held other than Swing Loans) made by such Lender) which is not in excess of such Lender’s Applicable Commitment Percentage with respect thereto; and (c) such aggregate principal amount outstanding on the Loans held such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Loans (including the Loans held by such Lenderother than Swing Loans) that is not in excess of shall be such Lender’s Aggregate Commitment Percentage. Each borrowing (other than Swing Loans which shall be risk participated on a pro rata basis) from the Lenders hereunder shall be made on a Pro Rata Basis pro rata according to the respective Commitment Percentages of the Lenders’ respective Applicable Commitment Percentages. .
(c) The Loans may be made as Revolving Loans as described in Section 2.2(a) hereof and as Swing Loans as described in Section 2.2(c) hereof, and Letters of Credit may be issued, as follows:issued in accordance with Section 2.2(b) hereof.
Appears in 2 contracts
Samples: Credit and Security Agreement (Shiloh Industries Inc), Credit and Security Agreement (Shiloh Industries Inc)
Amount and Nature of Credit. Subject to the terms and conditions of this Agreement, each Lender will, to the extent hereinafter provided, shall make Revolving Loans to Borrowers, and participate in Letters of Credit issued Borrower at the request of BorrowersBorrower, in such aggregate amount as Borrowers Borrower shall request pursuant to the Revolving Credit Commitment; provided, however, that in no event shall the aggregate principal amount of all Revolving Loans and Letter of Credit Exposure outstanding under this Agreement be in excess of the Total Commitment Amount. Each Lender, for itself and not for any other Lender, agrees to make Loans and to participate in Letters of Revolving Credit issued hereunder during the Commitment Period on such basis that (a) immediately after the completion of any borrowing by Borrowers or issuance of a Letter of Credit hereunder, the aggregate principal amount then outstanding on the Loans held by such Lender, when combined with such Lender’s Pro Rata Share of the Letter of Credit Exposure, shall not be in excess of the Maximum Amount for such Lender, (b) the aggregate principal amount outstanding of all outstanding Revolving Loans held such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Revolving Loans (including the Revolving Loans held by such Lender) which is not in excess of such Lender’s Applicable Commitment Percentage with respect thereto; and (c) such aggregate principal amount outstanding on the Loans held such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Loans (including the Loans held by such Lender) that is not in excess of such Lender’s Aggregate Commitment Percentage. Each borrowing from the Lenders hereunder shall be made on a Pro Rata Basis according to the Lenders’ respective Applicable Commitment PercentagesCommitment. The Revolving Loans may be made as follows: Subject to the terms and conditions of this Agreement, during the Revolving Credit Commitment Period, Lender shall make a Revolving Loan or Revolving Loans to Borrower in such amount or amounts as Borrower may from time to time request, but not exceeding in aggregate principal amount at any time outstanding hereunder the Revolving Credit Commitment. Such Revolving Loans shall be made by wire transfer of immediately available funds within two business days of Borrower’s delivery to Lender of a request for a Revolving Loan in compliance with this Agreement.
01). Interest on the Revolving Loans shall be payable on the last day of each Fiscal Quarter in an amount equal to, at Borrower’s election, the greater of either (a) part of the then due and Letters outstanding interest or (b) $25,000; provided, that any amount of interest due and payable on the last day of a Fiscal Quarter that is not paid in full at such time shall be automatically added to the outstanding principal amount of the Revolving Loans. The obligation of Borrower to repay the Revolving Loans made by Lender and to pay interest thereon shall be evidenced by the Note. Subject to the provisions of this Agreement, Borrower shall be entitled under this Section 2.1 to borrow funds, repay the same in whole or in part and re-borrow hereunder at any time and from time to time during the Revolving Credit may be issued, as follows:Commitment Period. Unless otherwise accelerated pursuant to the terms and conditions set forth herein all principal and interest in respect of the Revolving Loans is due and payable upon the expiration of the Revolving Credit Commitment Period.
Appears in 2 contracts
Samples: Credit and Security Agreement (JOINT Corp), Credit and Security Agreement
Amount and Nature of Credit. (a) Subject to the terms and conditions of this Agreement, each Lender willthe Lenders, during the Commitment Period and to the extent hereinafter provided, shall make Loans to Borrowersthe Borrower, participate in Swing Loans made by the Swing Line Lender to the Borrower, and issue or participate in Letters of Credit issued at the request of Borrowersthe Borrower, in such aggregate amount as Borrowers the Borrower shall request pursuant to the Commitment; provided, however, provided that in no event shall (i) the aggregate principal amount of all Loans and Letter Letters of Credit Exposure outstanding under this Agreement be in excess of the Total Commitment Amount and (ii) the aggregate principal Dollar Amount of all Loans in Agreed Currencies other than Dollars exceed the Maximum Foreign Currency Amount. .
(b) Each Lender, for itself and not one for any other Lenderother, agrees to make Loans Loans, participate in Swing Loans, and to issue or participate in Letters of Credit issued hereunder Credit, during the Commitment Period Period, on such basis that (a) that, immediately after the completion of any borrowing by Borrowers the Borrower or the issuance of a Letter of Credit hereunder, Credit:
(i) the aggregate outstanding principal amount then outstanding on the of Loans held made by such Lender (other than Swing Loans made by the Swing Line Lender), when combined with such Lender’s Pro Rata Share pro rata share, if any, of the Letter of Credit Exposure and the Swing Line Exposure, shall not be in excess of the Maximum Amount for such Lender, ; and
(bii) the aggregate outstanding principal amount outstanding of all outstanding Revolving Loans held such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Revolving Loans (including the Revolving Loans held other than Swing Loans) made by such Lender) which is not in excess of such Lender’s Applicable Commitment Percentage with respect thereto; and (c) such aggregate principal amount outstanding on the Loans held such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Loans (including the Loans held by such Lenderother than Swing Loans) that is not in excess of shall be such Lender’s Aggregate Commitment Percentage. Each borrowing (other than Swing Loans which shall be risk participated on a pro rata basis) from the Lenders hereunder shall be made on a Pro Rata Basis pro rata according to the respective Commitment Percentages of the Lenders’ respective Applicable Commitment Percentages. .
(c) The Loans may be made as Revolving Loans as described in Section 2.2(a) hereof, and as Swing Loans as described in Section 2.2(c) hereof, and Letters of Credit may be issued, as follows:issued in accordance with Section 2.2(b) hereof.
Appears in 2 contracts
Samples: Credit and Security Agreement (Sleep Number Corp), Credit and Security Agreement (Sleep Number Corp)
Amount and Nature of Credit. (a) Subject to the terms and conditions of this Agreement, each Lender willthe Lenders, during the Commitment Period and to the extent hereinafter provided, shall make Loans to Borrowers, participate in Swing Loans made by the Swing Line Lender to Borrowers, and issue or participate in Letters of Credit issued at the request of Borrowers, in such aggregate amount as Borrowers shall request pursuant to the Commitment; provided, however, provided that in no event shall the aggregate principal amount of all Loans and Letter Letters of Credit Exposure outstanding under this Agreement be in excess of the Total Commitment Amount. .
(b) Each Lender, for itself and not one for any other Lenderother, agrees to make Loans Loans, participate in Swing Loans, and to issue or participate in Letters of Credit issued hereunder Credit, during the Commitment Period Period, on such basis that (a) that, immediately after the completion of any borrowing by Borrowers or the issuance of a Letter of Credit hereunder, Credit:
(i) the aggregate outstanding principal amount then outstanding on the of Loans held made by such Lender (other than Swing Loans made by the Swing Line Lender), when combined with such Lender’s Pro Rata Share pro rata share, if any, of the Letter of Credit Exposure and the Swing Line Exposure, shall not be in excess of the Maximum Amount for such Lender, ; and
(bii) the aggregate outstanding principal amount outstanding of all outstanding Revolving Loans held such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Revolving Loans (including the Revolving Loans held other than Swing Loans) made by such Lender) which is not in excess of such Lender’s Applicable Commitment Percentage with respect thereto; and (c) such aggregate principal amount outstanding on the Loans held such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Loans (including the Loans held by such Lenderother than Swing Loans) that is not in excess of shall be such Lender’s Aggregate Commitment Percentage. Each borrowing (other than Swing Loans which shall be risk participated on a pro rata basis) from the Lenders hereunder shall be made on a Pro Rata Basis pro rata according to the respective Commitment Percentages of the Lenders’ respective Applicable Commitment Percentages. .
(c) The Loans may be made as Revolving Loans as described in Section 2.2(a) hereof, and as Swing Loans as described in Section 2.2(c) hereof, and Letters of Credit may be issued, as follows:issued in accordance with Section 2.2(b) hereof.
Appears in 2 contracts
Samples: Credit and Security Agreement (Epiq Systems Inc), Credit and Security Agreement (Epiq Systems Inc)
Amount and Nature of Credit. (a) Subject to the terms and conditions of this Agreement, each Lender willthe Lenders, during the Commitment Period and to the extent hereinafter provided, shall make Loans to BorrowersBorrower, participate in Swing Loans made by the Swing Line Lender to Borrower, and issue or participate in Letters of Credit issued at the request of BorrowersBorrower, in such aggregate amount as Borrowers Borrower shall request pursuant to the Commitment; provided, however, that in no event shall the aggregate principal amount of all Loans and Letter of Revolving Credit Exposure outstanding under this Agreement be in excess of the Total Commitment Amount. .
(b) Each Lender, for itself and not one for any other Lenderother, agrees to make Loans Loans, participate in Swing Loans, and to issue or participate in Letters of Credit issued hereunder Credit, during the Commitment Period Period, on such basis that (a) that, immediately after the completion of any borrowing by Borrowers Borrower or the issuance of a Letter of Credit hereunder, Credit:
(i) the aggregate outstanding principal amount then outstanding on the of Loans held made by such Lender (other than Swing Loans made by the Swing Line Lender), when combined with such Lender’s Pro Rata Share pro rata share, if any, of the Letter of Credit Exposure and the Swing Line Exposure, shall not be in excess of the Maximum Amount for such Lender, ; and
(bii) the aggregate outstanding principal amount outstanding of all outstanding Revolving Loans held such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Revolving Loans (including the Revolving Loans held other than Swing Loans) made by such Lender) which is not in excess of such Lender’s Applicable Commitment Percentage with respect thereto; and (c) such aggregate principal amount outstanding on the Loans held such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Loans (including the Loans held by such Lenderother than Swing Loans) that is not in excess of shall be such Lender’s Aggregate Commitment Percentage. Each borrowing (other than Swing Loans which shall be risk participated on a pro rata basis) from the Lenders hereunder shall be made on a Pro Rata Basis pro rata according to the respective Commitment Percentages of the Lenders’ respective Applicable Commitment Percentages. .
(c) The Loans may be made as Revolving Loans as described in Section 2.2(a) hereof and as Swing Loans as described in Section 2.2(c) hereof, and Letters of Credit may be issued, as follows:issued in accordance with Section 2.2(b) hereof.
Appears in 1 contract
Samples: Credit Agreement (Nautilus, Inc.)
Amount and Nature of Credit. (a) Subject to the terms and conditions of this Agreement, each Lender willthe Lenders, during the Commitment Period and to the extent hereinafter provided, shall make Loans to Borrowers, participate in Swing Loans made by the Swing Line Lender to US Borrowers, and issue or participate in Letters of Credit issued at the request of BorrowersAdministrative Borrower, in such aggregate amount as Borrowers shall request pursuant to the Commitment; provided, however, that in no event shall the aggregate principal amount of all Loans and Letter of Revolving Credit Exposure outstanding under this Agreement be in excess of the Total Commitment Amount. .
(b) Each Lender, for itself and not one for any other Lenderother, agrees to make Loans Loans, participate in Swing Loans, and to issue or participate in Letters of Credit issued hereunder Credit, during the Commitment Period Period, on such basis that (a) that, immediately after the completion of any borrowing by Borrowers or the issuance of a Letter of Credit hereunder, Credit:
(i) the Dollar Equivalent of the aggregate outstanding principal amount then outstanding on the of Loans held made by such Lender (other than Swing Loans made by the Swing Line Lender), when combined with such Lender’s Pro Rata Share 's pro rata share, if any, of the Letter of Credit Exposure and the Swing Line Exposure, shall not be in excess of the Maximum Amount for such Lender, ; and
(bii) the aggregate outstanding principal amount outstanding of all outstanding Revolving Loans held such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Revolving Loans (including the Revolving Loans held other than Swing Loans) made by such Lender) which is not in excess of such Lender’s Applicable Commitment Percentage with respect thereto; and (c) such aggregate principal amount outstanding on the Loans held such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Loans (including the Loans held by other than Swing Loans) that shall be such Lender) that is not in excess of such Lender’s Aggregate 's Commitment Percentage. Each borrowing (other than Swing Loans which shall be risk participated on a pro rata basis) from the Lenders hereunder shall be made on a Pro Rata Basis pro rata according to the respective Commitment Percentages of the Lenders’ respective Applicable Commitment Percentages. .
(c) The Loans may be made as Revolving Loans as described in Section 2.2(a) hereof and as Swing Loans as described in Section 2.2(c) hereof, and Letters of Credit may be issued, as follows:issued in accordance with Section 2.2(b) hereof.
Appears in 1 contract
Samples: Credit Agreement (Agilysys Inc)
Amount and Nature of Credit. (a) Subject to the terms and conditions of this Agreement, each Lender willthe Lenders, during the Commitment Period and to the extent hereinafter provided, shall make Loans to Borrowers, participate in Swing Loans made by the Swing Line Lender to US Borrower, and issue or participate in Letters of Credit issued at the request of BorrowersAdministrative Borrower, in such aggregate amount as Borrowers shall request pursuant to the Commitment; provided, however, provided that in no event shall the aggregate principal amount of all Loans and Letter of Revolving Credit Exposure outstanding under this Agreement be in excess of the Total Commitment Amount. .
(b) Each Lender, for itself and not one for any other Lenderother, agrees to make Loans Loans, participate in Swing Loans, and to issue or participate in Letters of Credit issued hereunder Credit, during the Commitment Period Period, on such basis that (a) that, immediately after the completion of any borrowing by Borrowers or the issuance of a Letter of Credit hereunder, Credit:
(i) the Dollar Equivalent of the aggregate outstanding principal amount then outstanding on the of Loans held made by such Lender (other than Swing Loans made by the Swing Line Lender, ) when combined with such Lender’s Pro Rata Share pro rata share, if any, of the Letter of Credit Exposure and the Swing Line Exposure, shall not be in excess of the Maximum Amount for such Lender, ; and
(bii) the aggregate outstanding principal amount outstanding of all outstanding Revolving Loans held such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Revolving Loans (including the Revolving Loans held other than Swing Loans) made by such Lender) which is not in excess of such Lender’s Applicable Commitment Percentage with respect thereto; and (c) such aggregate principal amount outstanding on the Loans held such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Loans (including the Loans held by such Lenderother than Swing Loans) that is not in excess of shall be such Lender’s Aggregate Commitment Percentage. Each borrowing (other than Swing Loans which shall be risk participated on a pro rata basis) from the Lenders hereunder shall be made on a Pro Rata Basis pro rata according to the respective Commitment Percentages of the Lenders’ respective Applicable Commitment Percentages. .
(c) The Loans may be made as Revolving Loans as described in Section 2.2(a) hereof and as Swing Loans as described in Section 2.2(c) hereof, and Letters of Credit may be issued, as follows:issued in accordance with Section 2.2(b) hereof.
Appears in 1 contract
Samples: Credit Agreement (Nn Inc)
Amount and Nature of Credit. Subject to the terms and conditions of this Agreement, each Lender willshall participate, to the extent hereinafter provided, make in making Loans to BorrowersBorrower, and participate in issuing Letters of Credit issued at the request of BorrowersBorrower, in such aggregate amount as Borrowers Borrower shall request pursuant to the Commitment; provided, however, that in no event shall the aggregate principal amount of all Loans and Letter of Credit Exposure outstanding under this Agreement be in excess of the Total Commitment Amount. Each Lender, for itself and not one for any other Lenderother, agrees to make Loans and to participate in Loans made and Letters of Credit issued hereunder during the Commitment Period on such basis that (ai) immediately after the completion of any borrowing by Borrowers or issuance Borrower, the Dollar Equivalent of a Letter of Credit hereunder, the aggregate principal amount then outstanding on the Loans held by each Note (other than any Swing Line Note) issued to such Lender or, if there is no Note, outstanding from such Lender, when combined with the Dollar Equivalent of such Lender’s 's Pro Rata Share of the any Letter of Credit Exposure or Swing Line Exposure, shall not be in excess of the Maximum Amount for respective amounts of any of such Lender's 364 Day Commitment, General Revolving Commitment or Term Loan Commitment; and (ii) the Dollar Equivalent of the principal amount outstanding on each Note issued to such Lender (other than any Swing Line Note) or, if there is no Note, outstanding from such Lender, (b) the aggregate principal amount outstanding of all outstanding Revolving Loans held such Lender shall represent represent, respectively that percentage of the aggregate principal amount of Loans (other than Swing Loans) then outstanding on all under each of the 364 Day Commitments, General Revolving Loans (including the Revolving Loans held by Commitments and Term Loan Commitments that shall be such Lender) which is not in excess of such Lender’s 's Applicable Commitment Percentage with respect thereto; and (c) such aggregate principal amount outstanding on the Loans held such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Loans (including the Loans held by such Lender) that is not in excess of such Lender’s Aggregate Commitment Percentage. Each Within each Commitment, each borrowing (other than Swing Loans) from the Lenders hereunder shall be made on a Pro Rata Basis according to the Lenders’ respective Applicable Commitment PercentagesPercentages of the Lenders. The Loans may be made as Revolving Loans and Letters of Credit may be issued, issued as follows:
Appears in 1 contract
Amount and Nature of Credit. (a) Subject to the terms and conditions of this Agreement, each Lender willthe Lenders, during the Commitment Period and to the extent hereinafter provided, shall make Loans to Borrowers, participate in Swing Loans made by the Swing Line Lender to Borrowers, and issue or participate in Letters of Credit issued at the request of Borrowers, in such aggregate amount as Borrowers shall request pursuant to the Commitment; provided, however, provided that in no event shall the aggregate principal amount of all Loans and Letter Letters of Credit Exposure outstanding under this Agreement be in excess of the Total Commitment Amount. .
(b) Each Lender, for itself and not one for any other Lenderother, agrees to make Loans Loans, participate in Swing Loans, and to issue or participate in Letters of Credit issued hereunder Credit, during the Commitment Period Period, on such basis that (a) that, immediately after the completion of any borrowing by Borrowers or the issuance of a Letter of Credit hereunder, Credit:
(i) the aggregate outstanding principal amount then outstanding on the of Loans held made by such Lender (other than Swing Loans made by the Swing Line Lender), when combined with such LenderXxxxxx’s Pro Rata Share pro rata share, if any, of the Letter of Credit Exposure and the Swing Line Exposure, shall not be in excess of the Maximum Amount for such Lender, ; and
(bii) the aggregate outstanding principal amount outstanding of all outstanding Revolving Loans held such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Revolving Loans (including the Revolving Loans held other than Swing Loans) made by such Lender) which is not in excess of such Lender’s Applicable Commitment Percentage with respect thereto; and (c) such aggregate principal amount outstanding on the Loans held such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Loans (including the Loans held by such Lenderother than Swing Loans) that is not in excess of shall be such Lender’s Aggregate Commitment Percentage. Each borrowing (other than Swing Loans which shall be risk participated on a pro rata basis) from the Lenders hereunder shall be made on a Pro Rata Basis pro rata according to the respective Commitment Percentages of the Lenders’ respective Applicable Commitment Percentages. .
(c) The Loans may be made as Revolving Loans as described in Section 2.2(a) hereof, and as Swing Loans as described in Section 2.2(c) hereof, and Letters of Credit may be issued, as follows:issued in accordance with Section 2.2(b) hereof.
Appears in 1 contract
Amount and Nature of Credit. (a) Subject to the terms and conditions of this Agreement, each Lender willthe Lenders, during the Commitment Period and to the extent hereinafter provided, shall make Loans to BorrowersBorrower, participate in Swing Loans made by the Swing Line Lender to Borrower, and issue or participate in Letters of Credit issued at the request of BorrowersBorrower, in such aggregate amount as Borrowers Borrower shall request pursuant to the Commitment; provided, however, that in no event shall the aggregate principal amount of all Loans and Letter of Revolving Credit Exposure outstanding under this Agreement be in excess of the Total Commitment Amount. .
(b) Each Lender, for itself and not one for any other Lenderother, agrees to make Loans Loans, participate in Swing Loans, and to issue or participate in Letters of Credit issued hereunder Credit, during the Commitment Period Period, on such basis that (a) that, immediately after the completion of any borrowing by Borrowers Borrower or the issuance of a Letter of Credit hereunder, Credit:
(i) the Dollar Equivalent of the aggregate outstanding principal amount then outstanding on the of Loans held made by such Lender (other than Swing Loans made by the Swing Line Lender), when combined with such Lender’s Pro Rata Share pro rata share, if any, of the Letter of Credit Exposure and the Swing Line Exposure, shall not be in excess of the Maximum Amount for such Lender, ; and
(bii) the aggregate outstanding principal amount outstanding of all outstanding Revolving Loans held such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Revolving Loans (including the Revolving Loans held other than Swing Loans) made by such Lender) which is not in excess of such Lender’s Applicable Commitment Percentage with respect thereto; and (c) such aggregate principal amount outstanding on the Loans held such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Loans (including the Loans held by such Lenderother than Swing Loans) that is not in excess of shall be such Lender’s Aggregate Commitment Percentage. Each borrowing (other than Swing Loans which shall be risk participated on a pro rata basis) from the Lenders hereunder shall be made on a Pro Rata Basis pro rata according to the respective Commitment Percentages of the Lenders’ respective Applicable Commitment Percentages. .
(c) The Loans may be made as Revolving Loans as described in Section 2.2(a) hereof and as Swing Loans as described in Section 2.2(c) hereof, and Letters of Credit may be issued, as follows:issued in accordance with Section 2.2(b) hereof.
Appears in 1 contract
Amount and Nature of Credit. (a) Subject to the terms and conditions of this Agreement, each Lender willthe Lenders, during the Commitment Period and to the extent hereinafter provided, shall make Loans to Borrowers, participate in Swing Loans made by the Swing Line Lender to US Borrowers and issue or participate in Letters of Credit issued at the request of BorrowersAdministrative Borrower, in such aggregate amount as Borrowers shall request pursuant to the Commitment; provided, however, that in no event shall the aggregate principal amount of all Loans and Letter of Revolving Credit Exposure outstanding under this Agreement be in excess of the Total Commitment Amount. .
(b) Each Lender, for itself and not one for any other Lenderother, agrees to make Loans Loans, participate in Swing Loans, and to issue or participate in Letters of Credit issued hereunder Credit, during the Commitment Period Period, on such basis that (a) that, immediately after the completion of any borrowing by Borrowers or the issuance of a Letter of Credit hereunder, Credit:
(i) the Dollar Equivalent of the aggregate outstanding principal amount then outstanding on the of Revolving Loans held made by such Lender, when combined with such Lender’s Pro Rata Share pro rata share of the Letter of Credit Exposure, Exposure and the Swing Line Exposure shall not be in excess of the Maximum Amount for such Lender, ; and
(bii) the aggregate outstanding principal amount outstanding of all outstanding Revolving Loans held made by such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Revolving Loans (including the Revolving Loans held by such Lender) which is not in excess of Loans, together with such Lender’s Applicable Commitment Percentage with respect thereto; interest in the Letter of Credit Exposure and (c) such aggregate principal amount outstanding on the Loans held such Lender Swing Line Exposure that shall represent that percentage of the aggregate principal amount then outstanding on all Loans (including the Loans held by such Lender) that is not in excess of be such Lender’s Aggregate Commitment Percentage. Each borrowing (other than Swing Loans which shall be risk participated on a pro rata basis) from the Lenders hereunder shall be made on a Pro Rata Basis pro rata according to the respective Commitment Percentages of the Lenders’ respective Applicable Commitment Percentages. .
(c) The Loans may be made as Revolving Loans as described in Section 2.2 (a) hereof and as Swing Loans as described in Section 2.2 (c) hereof, and Letters of Credit may be issued, as follows:issued in accordance with Section 2.2(b) hereof.
Appears in 1 contract
Samples: Credit Agreement (IHS Inc.)
Amount and Nature of Credit. (a) Subject to the terms and conditions of this Agreement, each Lender willthe =Lenders, during the Commitment Period and to the extent hereinafter provided, shall make Loans to BorrowersBorrower, participate in Swing Loans made by the Swing Line Lender to Borrower, and issue or participate in Letters of Credit issued at the request of BorrowersBorrower, in such aggregate amount as Borrowers Borrower shall request pursuant to the Commitment; provided, however, that in no event shall the aggregate principal amount of all Loans and Letter of Revolving Credit Exposure outstanding under this Agreement be in excess of the Total Commitment Amount. .
(b) Each Lender, for itself and not one for any other Lenderother, agrees to make Loans Loans, participate in Swing Loans, and to issue or participate in Letters of Credit issued hereunder Credit, during the Commitment Period Period, on such basis that (a) that, immediately after the completion of any borrowing by Borrowers Borrower or the issuance of a Letter of Credit hereunder, Credit:
(i) the Dollar Equivalent of the aggregate principal amount then outstanding on the Loans held by Note (other than the Swing Line Note) issued to such Lender, when combined with such Lender’s Pro Rata Share 's pro rata share, if any, of the Letter of Credit Exposure and the Swing Line Exposure, shall not be in excess of the Maximum Amount for such Lender, ; and
(bii) the such aggregate principal amount outstanding of all outstanding Revolving Loans held on the Note (other than the Swing Line Note) issued to such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Revolving Loans Notes (including other than the Revolving Loans held by Swing Line Note) together with such Lender) which is not 's interest in excess the Letter of Credit Exposure and the Swing Line Exposure that shall be such Lender’s Applicable Commitment Percentage with respect thereto; and (c) such aggregate principal amount outstanding on the Loans held such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Loans (including the Loans held by such Lender) that is not in excess of such Lender’s Aggregate 's Commitment Percentage. Each borrowing (other than Swing Loans) from the Lenders hereunder shall be made on a Pro Rata Basis pro rata according to the respective Commitment Percentages of the Lenders’ respective Applicable Commitment Percentages. .
(c) The Loans may be made as Revolving Loans as described in Section 2.2 hereof and Swing Loans as described in Section 2.4. hereof, and Letters of Credit may be issued, as follows:issued in accordance with Section 2.3 hereof.
Appears in 1 contract
Amount and Nature of Credit. Subject to the terms and conditions of this Agreement, each Lender will, Bank will participate to the extent hereinafter provided, make provided in making Loans to BorrowersBorrower, and participate in issuing Letters of Credit issued at the request of BorrowersBorrower, in such aggregate amount as Borrowers Borrower shall request pursuant to the Commitment; provided, however, that in no event shall the aggregate principal amount of all Loans and Letter Letters of Credit Exposure outstanding under this Agreement be in excess of the Total Commitment Amount. Each LenderBank, for itself and not one for any other Lenderother, agrees to make Loans and to participate in Loans made and Letters of Credit issued hereunder during the Commitment Period on such basis that (a) immediately after the completion of any borrowing by Borrowers Borrower or issuance of a Letter of Credit hereunder, the aggregate principal amount then outstanding on the Loans held by Notes (other than the Swing Line Note) issued to such LenderBank, when combined with such Lender’s Pro Rata Share Bank's pro rata share of the Letter of Credit Exposure, shall not be in excess of the Maximum Amount for such LenderBank, and (b) the such aggregate principal amount outstanding of all outstanding Revolving Loans held on the Notes (other than the Swing Line Note) issued to such Lender Bank shall represent that percentage of the aggregate principal amount then outstanding on all Revolving Loans Notes (other than the Swing Line Note, but including the Revolving Loans Notes held by such Lender) which is not in excess of such Lender’s Applicable Commitment Percentage with respect thereto; and (c) such aggregate principal amount outstanding on the Loans held such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Loans (including the Loans held by such LenderBank) that is not in excess of such Lender’s Aggregate Bank's Commitment Percentage. Each borrowing (other than Swing Loans) from the Lenders Banks hereunder shall be made on a Pro Rata Basis pro rata according to the Lenders’ Banks' respective Applicable Commitment Percentages. The Loans may be made as Revolving Loans and Swing Loans, and Letters of Credit may be issued, as follows:
Appears in 1 contract
Amount and Nature of Credit. (a) Subject to the terms and conditions of this Agreement, each Lender willBank, during the Commitment Period and to the extent hereinafter provided, shall make Loans to Borrowers, and issue or participate in Letters of Credit issued at and participate in Swing Loans made by the request of Swing Line Bank to Borrowers, in such aggregate amount as Borrowers shall request pursuant to the CommitmentCommitments; provided, however, that in no event shall the aggregate principal amount of all Loans and Letter of Revolving Credit Exposure and the outstanding under this Agreement principal balance of the Term Loan be in excess of the Total Commitment Amount. .
(b) Each LenderBank, for itself and not one for any other Lenderother, agrees to make Loans and Loans, to issue or participate in Letters of Credit issued hereunder and to participate in Swing Loans, during the Commitment Period Period, on such basis that (a) that, immediately after the completion of any borrowing by Borrowers or issuance of a Letter of Credit hereunderBorrowers, (i) the aggregate principal amount then outstanding on the Loans held by Notes (other than the Swing Line Note) issued to such LenderBank, when combined with such LenderBank’s Pro Rata Share pro rata share, if any, of the Letter of Credit Exposure and the Swing Line Exposure, shall not be in excess of the Maximum Amount for such LenderBank, and (bii) the aggregate principal amount then outstanding of all outstanding Revolving Loans held on the Notes (other than the Swing Line Note) issued to such Lender Bank shall represent that percentage of the aggregate principal amount then outstanding on all Revolving Loans Notes (including other than the Revolving Loans held by such Lender) which is not in excess of such Lender’s Applicable Commitment Percentage with respect thereto; and (c) such aggregate principal amount outstanding on the Loans held such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Loans (including the Loans held by such LenderSwing Line Note) that is not in excess of shall be such LenderBank’s Aggregate Commitment Percentage. Each Within each Specific Commitment, each borrowing (other than Swing Loans which shall be risk participated on a pro rata basis) from the Lenders Banks hereunder shall be made on a Pro Rata Basis pro rata according to the Lenders’ respective Applicable Commitment Percentages. Percentages of the Banks.
(c) The Loans may shall be made either as Revolving Loans as described in Section 2.2(a) hereof, as a Term Loan as described in Section 2.3 hereof, as Swing Loans as described in Section 2.4 hereof and Letters of Credit may be issued, as follows:issued in accordance with Section 2.2(b) hereof.
Appears in 1 contract
Samples: Credit and Security Agreement (MTC Technologies Inc)
Amount and Nature of Credit. (a) Subject to the terms and conditions of this Agreement, each Lender willthe Lenders, during the Commitment Period and to the extent hereinafter provided, shall make Loans to BorrowersBorrower, participate in Swing Loans made by the Swing Line Lender to Borrower, and issue or participate in Letters of Credit issued at the request of BorrowersBorrower, in such aggregate amount as Borrowers Borrower shall request pursuant to the Commitment; provided, however, that in no event shall the aggregate principal amount of all Loans and Letter Letters of Credit Exposure outstanding under this Agreement be in excess of the Total Commitment Amount. .
(b) Each Lender, for itself and not one for any other Lenderother, agrees to make Loans Loans, participate in Swing Loans, and to issue or participate in Letters of Credit issued hereunder Credit, during the Commitment Period Period, on such basis that (a) that, immediately after the completion of any borrowing by Borrowers Borrower or the issuance of a Letter of Credit hereunder, Credit:
(i) the aggregate outstanding principal amount then outstanding on the of Loans held made by such Lender (other than Swing Loans made by the Swing Line Lender), when combined with such Lender’s Pro Rata Share 's pro rata share, if any, of the Letter of Credit Exposure and the Swing Line Exposure, shall not be in excess of the Maximum Amount for such Lender; and
(ii) with respect to each Specific Commitment, (b) the aggregate outstanding principal amount outstanding of all outstanding Revolving Loans held (other than Swing Loans) made by such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Revolving Loans (including the Revolving Loans held by such Lender) which is not in excess of such Lender’s Applicable Commitment Percentage with respect thereto; and (c) to such aggregate principal amount outstanding on the Loans held such Lender Specific Commitment shall represent that percentage of the aggregate principal amount then outstanding on all Loans (including the Loans held by other than Swing Loans) within such Specific Commitment that shall be such Lender) that is not in excess of such Lender’s Aggregate 's Applicable Commitment Percentage. Each Within each Specific Commitment, each borrowing (other than Swing Loans) from the Lenders hereunder shall be made on a Pro Rata Basis pro rata according to the Lenders’ respective Applicable Commitment Percentages. Percentages of the Lenders.
(c) The Loans may be made as Revolving Loans as described in Section 2.2 hereof, as Swing Loans as described in Section 2.4 hereof, as a Term Loan A as described in Section 2.5 hereof, and as a Term Loan B as described in Section 2.6 hereof, and Letters of Credit may be issued, as follows:issued in accordance with Section 2.3 hereof.
Appears in 1 contract
Samples: Credit and Security Agreement (Shiloh Industries Inc)
Amount and Nature of Credit. (a) Subject to the terms and conditions of this Agreement, each Lender willthe Lenders, during the Commitment Period and to the extent hereinafter provided, shall make Loans to BorrowersBorrower, participate in Swing Loans made by the Swing Line Lender to Borrower, and issue or participate in Letters of Credit issued at the request of BorrowersBorrower, in such aggregate amount as Borrowers Borrower shall request pursuant to the Commitment; provided, however, that in no event shall the aggregate principal amount of all Loans and Letter Letters of Credit Exposure outstanding under this Agreement be in excess of the Total Commitment Amount. .
(b) Each Lender, for itself and not one for any other Lenderother, agrees to make Loans Loans, participate in Swing Loans, and to issue or participate in Letters of Credit issued hereunder Credit, during the Commitment Period Period, on such basis that (a) that, immediately after the completion of any borrowing by Borrowers Borrower or the issuance of a Letter of Credit hereunder, Credit:
(i) the aggregate outstanding principal amount then outstanding on the of Loans held made by such Lender (other than Swing Loans made by the Swing Line Lender), when combined with such Lender’s Pro Rata Share pro rata share, if any, of the Letter of Credit Exposure and the Swing Line Exposure, shall not be in excess of the Maximum Amount for such Lender; and
(ii) with respect to each Specific Commitment, (b) the aggregate outstanding principal amount outstanding of all outstanding Revolving Loans held (other than Swing Loans) made by such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Revolving Loans (including the Revolving Loans held by such Lender) which is not in excess of such Lender’s Applicable Commitment Percentage with respect thereto; and (c) to such aggregate principal amount outstanding on the Loans held such Lender Specific Commitment shall represent that percentage of the aggregate principal amount then outstanding on all Loans (including the Loans held by other than Swing Loans) within such Lender) Specific Commitment that is not in excess of shall be such Lender’s Aggregate Applicable Commitment Percentage. Each Within each Specific Commitment, each borrowing (other than Swing Loans which shall be risk participated on a pro rata basis) from the Lenders hereunder shall be made on a Pro Rata Basis pro rata according to the Lenders’ respective Applicable Commitment Percentages. Percentages of the Lenders.
(c) The Loans may be made as Revolving Loans as described in Section 2.2(a) hereof as a Term Loan as described in Section 2.3 hereof, and as Swing Loans as described in Section 2.2(c) hereof, and Letters of Credit may be issued, as follows:issued in accordance with Section 2.2(b) hereof.
Appears in 1 contract
Amount and Nature of Credit. Subject to the terms and conditions of this Agreement, each Lender will, to the extent hereinafter provided, make Loans to Borrowers, and participate in Letters of Credit issued at the request of Borrowers, in such aggregate amount as Borrowers shall request pursuant to the Commitment; provided, however, that in no event shall the aggregate principal amount of all Loans and Letter of Credit Exposure outstanding under this Agreement be in excess of the Total Commitment Amount. Each Lender, for itself and not for any other Lender, agrees to make Loans and to participate in Letters of Credit issued hereunder during the Commitment Period on such basis that (a) immediately after the completion of any borrowing by Borrowers or issuance of a Letter of Credit hereunder, the aggregate principal amount then outstanding on the Loans held by such Lender, when combined with such LenderXxxxxx’s Pro Rata Share of the Letter of Credit Exposure, shall not be in excess of the Maximum Amount for such Lender, ; (b) the aggregate principal amount outstanding of all outstanding Revolving Loans held such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Revolving Loans (including the Revolving Loans held by such Lender) which is not in excess of such Lender’s Applicable Commitment Percentage with respect thereto; (c) the aggregate principal amount of all outstanding Term Loans held by such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Term Loans (including the Term Loans held by such Lender) which is not in excess of such Lender’s Applicable Commitment Percentage with respect thereto; (d) the aggregate principal amount of all outstanding Term Loans B held by such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Term Loans B (including the Term Loans B held by such Lender) which is not in excess of such Lender’s Applicable Commitment Percentage with respect thereto; and (ce) such aggregate principal amount outstanding on the Loans held by such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Loans (including the Loans held by such Lender) that is not in excess of such Lender’s Aggregate Commitment Percentage. Each borrowing from the Lenders hereunder shall be made on a Pro Rata Basis according to the Lenders’ respective Applicable Commitment Percentages. The Loans may be made as Revolving Loans Loans, as a Term Loan, as a Term Loan B and Letters of Credit may be issued, as follows:
Appears in 1 contract
Amount and Nature of Credit. (a) Subject to the terms and conditions of this Agreement, each Lender willthe Lenders, during the Commitment Period and to the extent hereinafter provided, shall make Loans to BorrowersBorrower, participate in Swing Loans made by the Swing Line Lender to Borrower, and issue or participate in Letters of Credit issued at the request of BorrowersBorrower, in such aggregate amount as Borrowers Borrower shall request pursuant to the Commitment; provided, however, that in no event shall the aggregate principal amount of all Loans and Letter Letters of Credit Exposure outstanding under this Agreement be in excess of the Total Commitment Amount. .
(b) Each Lender, for itself and not one for any other Lenderother, agrees to make Loans Loans, participate in Swing Loans, and to issue or participate in Letters of Credit issued hereunder Credit, during the Commitment Period Period, on such basis that (a) that, immediately after the completion of any borrowing by Borrowers Borrower or the issuance of a Letter of Credit hereunder, Credit:
(i) the aggregate outstanding principal amount then outstanding on the of Loans held made by such Lender (other than Swing Loans made by the Swing Line Lender), when combined with such Lender’s Pro Rata Share pro rata share, if any, of the Letter of Credit Exposure and the Swing Line Exposure, shall not be in excess of the Maximum Amount for such Lender; and
(ii) with respect to each Specific Commitment, (b) the aggregate outstanding principal amount outstanding of all outstanding Revolving Loans held (other than Swing Loans) made by such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Revolving Loans (including the Revolving Loans held by such Lender) which is not in excess of such Lender’s Applicable Commitment Percentage with respect thereto; and (c) to such aggregate principal amount outstanding on the Loans held such Lender Specific Commitment shall represent that percentage of the aggregate principal amount then outstanding on all Loans (including the Loans held by other than Swing Loans) within such Lender) Specific Commitment that is not in excess of shall be such Lender’s Aggregate Applicable Commitment Percentage. Each Within each Specific Commitment, each borrowing (other than Swing Loans which shall be risk participated on a pro rata basis) from the Lenders hereunder shall be made on a Pro Rata Basis pro rata according to the Lenders’ respective Applicable Commitment Percentages. Percentages of the Lenders.
(c) The Loans may be made as Revolving Loans as described in Section 2.2(a) hereof, as the Term Loan as described in Section 2.3 hereof, and as Swing Loans as described in Section 2.2(c) hereof, and Letters of Credit may be issued, as follows:issued in accordance with Section 2.2(b) hereof.
Appears in 1 contract
Samples: Credit and Security Agreement (Netscout Systems Inc)
Amount and Nature of Credit. Subject to the terms and conditions of this Agreement, during the Commitment Period, each Lender willBank shall participate, to the extent hereinafter provided, make in making Revolving Loans to Borrowers, and participate in Letters of Credit issued at the request of BorrowersBorrower, in such aggregate amount as Borrowers Borrower shall from time to time request pursuant to the CommitmentCommitments; provided, however, that in no event shall the aggregate principal amount of all Revolving Loans and Letter of Credit Exposure outstanding under this Agreement be in excess of the Total Revolving Credit Commitment. The Revolving Loans shall mature on the last day of the Commitment AmountPeriod. Each LenderBank, for itself and not one for any other Lenderother, agrees to make Loans and to participate in Letters of Credit issued Revolving Loans made hereunder during the Commitment Period on such basis that (a) immediately after the completion of any borrowing by Borrowers or issuance of a Letter of Credit Borrower hereunder, the aggregate principal amount then outstanding on the Loans held by Notes issued to such Lender, when combined with such Lender’s Pro Rata Share of the Letter of Credit Exposure, Bank shall not be in excess of the Maximum Amount for such LenderBank, and (b) the such aggregate principal amount outstanding of all outstanding Revolving Loans held on the Notes issued to such Lender Bank shall represent that percentage of the aggregate principal amount then outstanding on all Revolving Loans Notes (including the Revolving Loans Notes held by such Lender) which is not in excess of such Lender’s Applicable Commitment Percentage with respect thereto; and (c) such aggregate principal amount outstanding on the Loans held such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Loans (including the Loans held by such LenderBank) that is not in excess of such Lender’s Aggregate Bank's Commitment Percentage. Each borrowing from the Lenders Banks hereunder shall be made on a Pro Rata Basis pro rata according to the Lenders’ respective Applicable Commitment PercentagesPercentages of the Banks. Borrower shall pay interest on the unpaid principal amount of Revolving Loans outstanding from time to time from the date thereof until paid at the Derived Base Rate from time to time in effect. Interest on such Revolving Loans shall be payable, commencing on July 1, 2001, and on the first day of each month thereafter and at the maturity thereof. The Loans may be made as obligation of Borrower to repay the Revolving Loans made by each Bank and Letters to pay interest thereon shall be evidenced by a Revolving Credit Note of Credit may Borrower in the form of Exhibit A hereto, payable to the order of such Bank in the maximum amount of its Commitment, or, if less, the aggregate unpaid principal amount of Revolving Loans made hereunder by such Bank. Subject to the provisions of this Agreement, Borrower shall be issuedentitled to borrow funds, as follows:repay (in accordance with the requirements of Section 2.10 hereof) the same in whole or in part and re-borrow hereunder at any time and from time to time during the Commitment Period up to the amounts determined in accordance with Section 2.2 hereof.
Appears in 1 contract
Samples: Last in First Out Credit Agreement (Amcast Industrial Corp)
Amount and Nature of Credit. (a) Subject to the terms and conditions of this Agreement, each Lender willthe Applicable Lenders, during the Commitment Period and to the extent hereinafter provided, shall make Loans to Borrowers, participate in Swing Loans made by the US Swing Line Lender to US Borrower or the Canadian Swing Line Lender to Canadian Borrower, and issue or participate in Letters of Credit issued at the request of BorrowersUS Borrower, in such aggregate amount as Borrowers shall request pursuant to the Commitment; provided, however, that in no event shall the aggregate principal amount of all Loans and Letter of Revolving Credit Exposure outstanding under this Agreement be in excess of the Total Commitment Amount. .
(b) Each US Lender, for itself and not one for any other Lenderother, agrees to make Loans US Revolving Loans, make or participate in US Swing Loans, and to issue or participate in Letters of Credit issued hereunder Credit, during the Commitment Period Period, on such basis that (a) that, immediately after the completion of any borrowing by Borrowers US Borrower or the issuance of a Letter of Credit hereunder, Credit:
(i) the Dollar Equivalent of the aggregate outstanding principal amount then outstanding on the of US Revolving Loans held made by such US Lender, when combined with such US Lender’s Pro Rata Share 's pro rata share of the Letter of Credit Exposure and the US Swing Line Exposure, shall not be in excess of the Maximum Amount for such US Lender, ; and
(bii) the aggregate principal amount outstanding of all outstanding US Revolving Loans held made by such US Lender shall represent that percentage of the aggregate principal amount then outstanding on all US Revolving Loans that shall be such US Lender's Applicable Commitment Percentage. Each borrowing (including other than US Swing Loans) from the US Lenders hereunder shall be made pro rata according to the respective Applicable Commitment Percentages of the US Lenders.
(c) Each Canadian Lender, for itself and not one for any other, agrees to make Canadian Revolving Loans held and make or participate in Canadian Swing Loans, during the Commitment Period, on such basis that, immediately after the completion of any borrowing by Canadian Borrower:
(i) the Dollar Equivalent of the aggregate outstanding principal amount of Canadian Revolving Loans made by such Canadian Lender) which is , when combined with such Canadian Lender's pro rata share of the Canadian Swing Line Exposure, shall not be in excess of the Maximum Amount for such Canadian Lender’s Applicable Commitment Percentage with respect thereto; and and
(cii) such the aggregate principal amount outstanding on the of Canadian Revolving Loans held made by such Canadian Lender shall represent that percentage of the aggregate principal amount then outstanding on all Canadian Revolving Loans (including the Loans held by that shall be such Canadian Lender) that is not in excess of such Lender’s Aggregate 's Applicable Commitment Percentage. Each borrowing (other than Canadian Swing Loans) from the Canadian Lenders hereunder shall be made on a Pro Rata Basis pro rata according to the Lenders’ respective Applicable Commitment Percentages. Percentages of the Canadian Lenders.
(d) The Loans may be made as US Revolving Loans as described in Section 2.2(a) hereof, Canadian Revolving Loans as described in Section 2.3(a) hereof, US Swing Loans as described in Section 2.2(c) hereof, Canadian Swing Loans as described in Section 2.3(b) hereof, and Letters of Credit may be issued, as follows:issued in accordance with Section 2.2(b) hereof.
Appears in 1 contract
Samples: Credit Agreement (Smucker J M Co)
Amount and Nature of Credit. (a) Subject to the terms and conditions of this Agreement, each Lender willthe Lenders, during the Commitment Period and to the extent hereinafter provided, shall make Loans to BorrowersBorrower, participate in Swing Loans made by the Swing Line Lender to Borrower, and issue or participate in Letters of Credit issued at the request of BorrowersBorrower, in such aggregate amount as Borrowers Borrower shall request pursuant to the Commitment; provided, however, that in no event shall the aggregate principal amount of all Loans and Letter Letters of Credit Exposure outstanding under this Agreement be in excess of the Total Commitment Amount. .
(b) Each Lender, for itself and not one for any other Lenderother, agrees to make Loans Loans, participate in Swing Loans, and to issue or participate in Letters of Credit issued hereunder Credit, during the Commitment Period Period, on such basis that (a) that, immediately after the completion of any borrowing by Borrowers Borrower or the issuance of a Letter of Credit hereunder, Credit:
(i) the aggregate outstanding principal amount then outstanding on the of Loans held made by such Lender (other than Swing Loans made by the Swing Line Lender), when combined with such Lender’s Pro Rata Share pro rata share, if any, of the Letter of Credit Exposure and the Swing Line Exposure, shall not be in excess of the Maximum Amount for such Lender; and
(ii) with respect to each Specific Commitment, (b) the aggregate outstanding principal amount outstanding of all outstanding Revolving Loans held (other than the Swing Loans) made by such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Revolving Loans (including the Revolving Loans held by such Lender) which is not in excess of such Lender’s Applicable Commitment Percentage with respect thereto; and (c) to such aggregate principal amount outstanding on the Loans held such Lender Specific Commitment shall represent that percentage of the aggregate principal amount then outstanding on all Loans (including the Loans held by other than Swing Loans) within such Lender) Specific Commitment that is not in excess of shall be such Lender’s Aggregate Applicable Commitment Percentage. Each Within each Specific Commitment, each borrowing (other than Swing Loans which shall be risk participated on a pro rata basis) from the Lenders hereunder shall be made on a Pro Rata Basis pro rata according to the Lenders’ respective Applicable Commitment Percentages. Percentages of the Lenders.
(c) The Loans may be made as Revolving Loans as described in Section 2.2(a) hereof, as a Term Loan as described in Section 2.3 hereof, and as Swing Loans as described in Section 2.2(c) hereof, and Letters of Credit may be issued, as follows:issued in accordance with Section 2.2(b) hereof.
Appears in 1 contract
Samples: Credit and Security Agreement (Shiloh Industries Inc)
Amount and Nature of Credit. (a) Subject to the terms and conditions of this Agreement, each Lender willLender, to the extent hereinafter provided, shall make Loans to Borrowers, participate in Swing Loans made by the Swing Line Lender to TCC, and issue or participate in Letters of Credit issued at the request of BorrowersTCC, in such aggregate amount as Borrowers shall request pursuant to the Commitment; provided, however, that in no event shall the Dollar Equivalent of the aggregate principal amount of all Loans and Letter Letters of Credit Exposure outstanding under this Agreement be in excess of the Total Commitment Amount. .
(b) Each Lender, for itself and not one for any other Lenderother, agrees to make Loans, participate in Swing Loans made by the Swing Line Lender to TCC, and to issue and participate in Letters of Credit issued hereunder Credit, during the Commitment Period Period, on such basis that (a) that, immediately after the completion of any borrowing by Borrowers a Borrower or the issuance of a Letter of Credit hereunderCredit, (i) the Dollar Equivalent of the aggregate principal amount then outstanding on the Loans held by Notes (other than the Swing Line Note) issued to such Lender, when combined with such Lender’s Pro Rata Share 's pro rata share of the Letter of Credit Exposure and the Swing Line Exposure, shall not be in excess of the Maximum Amount for such Lender, (bii) the Dollar Equivalent of the aggregate principal amount outstanding of all outstanding Revolving Loans held on the Notes (other than the Swing Line Note and other than with respect to any Special Foreign Commitment) issued to such Lender shall represent that percentage of the Dollar Equivalent of the aggregate principal amount then outstanding on all Revolving Loans of the Notes (including other than the Revolving Loans held by Swing Line Note and other than with respect to any Special Foreign Commitment) that shall be such Lender) which is not in excess of such Lender’s 's Applicable Commitment Percentage with respect thereto; to the Commitment (other than any Special Foreign Commitment), and (ciii) such the Dollar Equivalent of the aggregate principal amount outstanding on the Loans held such Note issued to any Special Foreign Lender shall represent that percentage of the Dollar Equivalent of the aggregate principal amount then outstanding on all Loans of the Notes (including other than the Loans held by Swing Line Note and other than with respect to any Special Foreign Commitment) that shall be such Lender) that is not in excess 's Applicable Commitment Percentage with respect to the Special Foreign Commitment of such Special Foreign Lender’s Aggregate Commitment Percentage. Each borrowing (other than Swing Loans) from the Lenders hereunder shall be made on a Pro Rata Basis pro rata according to the Lenders’ respective Applicable Commitment Percentages. Percentages of the Lenders.
(c) The Loans may be made as USB Revolving Loans Loans, FB Revolving Loans, Swing Loans, a USB Term Loan and a FB Term Loan, and Letters of Credit may be issued, as follows:
Appears in 1 contract
Amount and Nature of Credit. (a) Subject to the terms and conditions of this Agreement, each Lender willthe Lenders, during the Commitment Period and to the extent hereinafter provided, shall make Revolving Loans to Borrowersthe Borrower, participate in Swing Loans made by the Swing Line Lender to the Borrower, and issue or participate in Letters of Credit issued at the request of Borrowersthe Borrower, in such aggregate amount as Borrowers the Borrower shall request pursuant to the CommitmentCommitment in respect of Revolving Loans, Swing Loans and Letters of Credit; provided, however, provided that in no event shall (i) the aggregate principal amount of all Revolving Loans, Swing Loans and Letter Letters of Credit Exposure outstanding under this Agreement be in excess of the Total Commitment Amount corresponding with such Loans and Letters of Credit and (ii) the aggregate principal Dollar Amount of all Loans in Agreed Currencies other than Dollars exceed the Maximum Foreign Currency Amount. .
(b) Each Lender, for itself and not one for any other Lenderother, agrees to make Loans Revolving Loans, participate in Swing Loans, and to issue or participate in Letters of Credit issued hereunder Credit, during the Commitment Period Period, on such basis that (a) that, immediately after the completion of any borrowing by Borrowers the Borrower or the issuance of a Letter of Credit hereunder, Credit:
(i) the aggregate outstanding principal amount then outstanding on the of Revolving Loans held made by such Lender (other than Swing Loans made by the Swing Line Lender), when combined with such Lender’s Pro Rata Share pro rata share, if any, of the Letter of Credit Exposure and the Swing Line Exposure, shall not be in excess of the Maximum Revolving Amount for such Lender, ; and
(bii) the aggregate outstanding principal amount outstanding of all outstanding Revolving Loans held (other than Swing Loans) made by such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Revolving Loans (including the Revolving Loans held by such Lenderother than Swing Loans) which is not in excess of that shall be such Lender’s Applicable Commitment Percentage with respect thereto; and (c) such aggregate principal amount outstanding on the Loans held such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Loans (including the Loans held by such Lender) that is not in excess of such Lender’s Aggregate Commitment Percentage. Each borrowing (other than Swing Loans which shall be risk participated on a pro rata basis) from the Lenders hereunder shall be made on a Pro Rata Basis pro rata according to the respective Commitment Percentages of the Lenders’ respective Applicable Commitment Percentages. The .
(c) Loans may be made as Revolving Loans as described in Section 2.2(a) hereof, and as Swing Loans as described in Section 2.2(c) hereof, and Letters of Credit may be issued, as follows:issued in accordance with Section 2.2(b) hereof.
Appears in 1 contract
Amount and Nature of Credit. (a) Subject to the terms and conditions of this Agreement, each Lender willthe Lenders, during the Commitment Period and to the extent hereinafter provided, shall make Loans to the Borrowers, participate in Swing Loans made by the Swing Line Lenders to the Borrowers, and issue or participate in Letters of Credit issued at the request of the Borrowers, in such aggregate amount as the Borrowers shall request pursuant to the Commitment; provided, however, provided that in no event shall the aggregate principal amount of all Loans and Letter Letters of Credit Exposure outstanding under this Agreement be in excess of the Total Commitment Amount. .
(b) Each Lender, for itself and not one for any other Lenderother, agrees to make Loans Loans, participate in Swing Loans, and to issue or participate in Letters of Credit issued hereunder Credit, during the Commitment Period Period, on such basis that (a) that, immediately after the completion of any borrowing by the Borrowers or the issuance of a Letter of Credit hereunder, Credit:
(i) the aggregate outstanding principal amount then outstanding on the of Loans held made by such Lender (other than Swing Loans made by a Swing Line Lender), when combined with such LenderLxxxxx’s Pro Rata Share pro rata share, if any, of the Letter of Credit Exposure and the Swing Line Exposure, shall not be in excess of the Maximum Amount for such Lender; and
(ii) with respect to each Specific Commitment, (b) the aggregate outstanding principal amount outstanding of all outstanding Revolving Loans held (other than Swing Loans) made by such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Revolving Loans (including the Revolving Loans held by such Lender) which is not in excess of such Lender’s Applicable Commitment Percentage with respect thereto; and (c) to such aggregate principal amount outstanding on the Loans held such Lender Specific Commitment shall represent that percentage of the aggregate principal amount then outstanding on all Loans (including the Loans held by other than Swing Loans) within such Lender) Specific Commitment that is not in excess of shall be such Lender’s Aggregate Applicable Commitment Percentage. Each Within such Specific Commitment, each borrowing (other than Swing Loans which shall be risk participated on a pro rata basis) from the Lenders hereunder shall be made on a Pro Rata Basis pro rata according to the Lenders’ respective Applicable Commitment Percentages. Percentages of the Lenders.
(c) The Loans may be made as Revolving Loans as described in Section 2.2(a) hereof, as the Term Loan as described in Section 2.3 hereof, and as Swing Loans as described in Section 2.2(c) hereof, and Letters of Credit may be issued, as follows:issued in accordance with Section 2.2(b) hereof.
Appears in 1 contract
Amount and Nature of Credit. (a) Subject to the terms and conditions of this Agreement, each Lender willthe Lenders, during the Commitment Period and to the extent hereinafter provided, shall make Loans to Borrowers, Borrower and issue or participate in Letters of Credit issued at the request of BorrowersBorrower, in such aggregate amount as Borrowers Borrower shall request pursuant to the Commitment; provided, however, that in no event shall the aggregate principal amount of all Loans and Letter of Revolving Credit Exposure outstanding under this Agreement be in excess of the Total Commitment Amount. .
(b) Each Lender, for itself and not one for any other Lenderother, agrees to make Loans and to issue or participate in Letters of Credit issued hereunder Credit, during the Commitment Period Period, on such basis that (a) that, immediately after the completion of any borrowing by Borrowers Borrower or the issuance of a Letter of Credit hereunder, Credit:
(i) the Dollar Equivalent of the aggregate outstanding principal amount then outstanding on the of Loans held made by such LenderLender (other than the Competitive Bid Loans), when combined with such Lender’s Pro Rata Share 's pro rata share, if any, of the Letter of Credit Exposure, Exposure shall not be in excess of the Maximum Amount for such Lender, ; and
(bii) the such aggregate principal amount outstanding of all outstanding Revolving Loans held on the Notes (other than the Competitive Bid Notes) issued to such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Revolving Loans Notes (including other than the Revolving Loans held by Competitive Bid Notes) together with such Lender) which is not 's interest in excess the Letter of Credit Exposure that shall be such Lender’s Applicable Commitment Percentage with respect thereto; and (c) such aggregate principal amount outstanding on the Loans held such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Loans (including the Loans held by such Lender) that is not in excess of such Lender’s Aggregate 's Commitment Percentage. Each With the exception of Competitive Bid Loans, each borrowing from the Lenders hereunder shall be made on a Pro Rata Basis pro rata according to the respective Commitment Percentages of the Lenders’ respective Applicable Commitment Percentages. .
(c) The Loans may be made as Revolving Loans Loans, as described in Section 2.2(a) hereof, and Competitive Bid Loans, as described in Section 2.2(c) hereof, and Letters of Credit may be issued, as follows:issued in accordance with Section 2.2(b) hereof.
Appears in 1 contract
Samples: Credit Agreement (Schulman a Inc)
Amount and Nature of Credit. (a) Subject to the terms and conditions of this Agreement, each Lender willthe Lenders, during the Commitment Period and to the extent hereinafter provided, shall make Loans to BorrowersBorrower, participate in Swing Loans made by the Swing Line Lender to Borrower, and issue or participate in Letters of Credit issued at the request of BorrowersBorrower, in such aggregate amount as Borrowers Borrower shall request pursuant to the Commitment; provided, however, that in no event shall the aggregate principal amount of all Loans and Letter Letters of Credit Exposure outstanding under this Agreement be in excess of the Total Commitment Amount. .
(b) Each Lender, for itself and not one for any other Lenderother, agrees to make Loans Loans, participate in Swing Loans, and to issue or participate in Letters of Credit issued hereunder Credit, during the Commitment Period Period, on such basis that (a) that, immediately after the completion of any borrowing by Borrowers Borrower or the issuance of a Letter of Credit hereunder, Credit:
(i) the aggregate outstanding principal amount then outstanding on the of Loans held made by such Lender (other than Swing Loans made by the Swing Line Lender), when combined with such Lender’s Pro Rata Share pro rata share, if any, of the Letter of Credit Exposure and the Swing Line Exposure, shall not be in excess of the Maximum Amount for such Lender; and
(ii) with respect to each Specific Commitment, (b) the aggregate outstanding principal amount outstanding of all outstanding Revolving Loans held (other than Swing Loans) made by such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Revolving Loans (including the Revolving Loans held by such Lender) which is not in excess of such Lender’s Applicable Commitment Percentage with respect thereto; and (c) to such aggregate principal amount outstanding on the Loans held such Lender Specific Commitment shall represent that percentage of the aggregate principal amount then outstanding on all Loans (including the Loans held by other than Swing Loans) within such Lender) Specific Commitment that is not in excess of shall be such Lender’s Aggregate Applicable Commitment Percentage. Each Within each Specific Commitment, each borrowing (other than Swing Loans) from the Lenders hereunder shall be made on a Pro Rata Basis pro rata according to the Lenders’ respective Applicable Commitment Percentages. Percentages of the Lenders.
(c) The Loans may be made as Revolving Loans as described in Section 2.2(a) hereof, as a Term Loan as described in Section 2.3 hereof, and as Swing Loans as described in Section 2.2(c) hereof, and Letters of Credit may be issued, as follows:issued in accordance with Section 2.2(b) hereof.
Appears in 1 contract
Amount and Nature of Credit. Subject to the terms and conditions of this Agreement, each Lender will, Bank shall participate to the extent hereinafter provided, make provided in making Loans to Borrower and Canadian Borrowers, and participate in issuing Letters of Credit issued at the request of BorrowersBorrower, in such aggregate amount as Borrower and Canadian Borrowers shall request pursuant to the Commitment; provided, however, that in no event shall the aggregate principal amount of all Loans and Letter Letters of Credit Exposure outstanding under this Agreement be in excess of the Total Commitment Amount. Each LenderPrior to the Activation Date, each Bank, for itself and not one for any other Lenderother, agrees to make Loans and to participate in Loans made and Letters of Credit issued hereunder during the Commitment Period on such basis that (a) immediately after the completion of any borrowing by Borrowers Borrower or issuance of a Letter of Credit hereunder, the aggregate principal amount then outstanding on the Loans held by Notes (other than the Swing Line Note) issued to such LenderBank, when combined with such Lender’s Pro Rata Share Bank's pro rata share of the Letter of Credit Exposure, shall not be in excess of the Maximum Amount for such LenderBank, and (b) such aggregate principal amount outstanding on the Notes (other than the Swing Line Note) issued to such Bank shall represent that percentage of the aggregate principal amount then outstanding of on all outstanding Notes (other than the Swing Line Note) which is such Bank's Commitment Percentage. On and after the Activation Date:
(a) each Domestic Bank, for itself and not one for any other, agrees to participate in Revolving Loans held made and Letters of Credit issued hereunder on such Lender basis that (i) immediately after the granting of any Revolving Loan to Borrower or issuance of a Letter of Credit hereunder, the aggregate principal amount then outstanding on the Revolving Credit Note issued to such Domestic Bank, when combined with such Domestic Bank's pro rata share of the Letter of Credit Exposure, shall not be in excess of the Revised Maximum Amount for such Domestic Bank, and (ii) such aggregate principal amount outstanding on the Revolving Credit Note issued to such Domestic Bank shall represent that percentage of the aggregate principal amount then outstanding on all Revolving Loans (including the Revolving Loans held by such Lender) Credit Notes which is such Domestic Bank's Revised Commitment Percentage; and
(b) each Canadian Bank, for itself and not for any other, agrees to participate in CAD Loans granted hereunder on such basis that (i) immediately after the granting of any CAD Loan to the Canadian Borrowers, the aggregate principal amount then outstanding on the CAD Loan Note issued to such Canadian Bank shall not be in excess of the Revised Maximum Amount for such Lender’s Applicable Commitment Percentage with respect thereto; Canadian Bank, and (cii) such aggregate 18 principal amount outstanding on the Loans held CAD Loan Note issued to such Lender Canadian Bank shall represent that percentage of the aggregate principal amount then outstanding on all Loans (including the Loans held by CAD Loan Notes which is such Lender) that is not in excess of such Lender’s Aggregate Canadian Bank's Revised Commitment Percentage. Each Prior to the Activation Date, each borrowing (other than Swing Loans) from the Lenders Banks hereunder shall be made on a Pro Rata Basis pro rata according to the Lenders’ Banks' respective Applicable Commitment Percentages. On and after the Activation Date, the Revolving Loans shall be made pro rata according to the Domestic Banks' respective Revised Commitment Percentages and the CAD Loans shall be made pro rata according to the Canadian Banks' respective Revised Commitment Percentages. The Loans may be made as Revolving Loans, Swing Loans and CAD Loans, and Letters of Credit may be issued, as follows:
Appears in 1 contract
Samples: Credit Agreement (Applied Industrial Technologies Inc)
Amount and Nature of Credit. Subject to the terms and conditions of this Agreement, each Lender will, the Banks will participate to the extent hereinafter provided, make provided in making Loans to BorrowersBorrower, and participate in issuing Letters of Credit issued at the request of BorrowersBorrower, in such aggregate amount as Borrowers Borrower shall request pursuant to the Commitment; provided, however, that in no event shall the aggregate principal amount of all Loans and Letter Letters of Credit Exposure outstanding under this Agreement be in excess of the Total Commitment Amount. Each LenderBank, for itself and not one for any other Lenderother, agrees to make Loans and to participate in Loans made and Letters of Credit issued hereunder during the Commitment Period on such basis that (a) immediately after the completion of any borrowing by Borrowers Borrower or issuance of a Letter of Credit hereunder, the aggregate principal amount then outstanding on the Loans held by Notes (other than the Swing Line Note) issued to such LenderBank, when combined with such Lender’s Pro Rata Share Bank's pro rata share of the Letter aggregate undrawn face amount of Credit Exposureall issued and outstanding Letters of Credit, shall not be in excess of the amount shown opposite the name of such Bank under the column headed "Maximum Amount for such LenderAmount" as set forth in Schedule 1 hereto, and (b) the such aggregate principal amount outstanding of all outstanding Revolving Loans held on the Notes (other than the Swing Line Note) issued to such Lender Bank shall represent that percentage of the aggregate principal amount then outstanding on all Revolving Loans Notes (including other than the Revolving Loans held by such LenderSwing Line Note) which is not in excess of such Lender’s Applicable Commitment Percentage with respect thereto; and (c) such aggregate principal amount outstanding on the Loans held such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Loans (including the Loans held by such Lender) that is not in excess of such Lender’s Aggregate Bank's Commitment Percentage. Each borrowing (other than Swing Loans) from the Lenders Banks hereunder shall be made on a Pro Rata Basis pro rata according to the Lenders’ Banks' respective Applicable Commitment Percentages. The Loans may be made as Revolving Loans and Swing Loans, and Letters of Credit may be issued, as follows:
Appears in 1 contract
Amount and Nature of Credit. Subject to the terms and conditions of this Agreement, each Lender will, the Banks will participate to the extent hereinafter provided, make provided in making Loans to Borrowers, and participate in Letters of Credit issued at the request of BorrowersBorrower, in such aggregate amount as Borrowers Borrower shall request pursuant to the Commitment; provided, however, that in no event shall the aggregate principal amount of all Loans and Letter of Credit Exposure outstanding under this Agreement be in excess of the Total Commitment Amount. Each LenderBank, for itself and not one for any other Lenderother, agrees to make Loans and to participate in Letters of Credit issued Loans made hereunder during the Commitment Period on such basis that (a) immediately after the completion of any borrowing by Borrowers or issuance of a Letter of Credit hereunderBorrower, the aggregate principal amount then outstanding on the Loans held by Notes issued to such Lender, when combined with such Lender’s Pro Rata Share of the Letter of Credit Exposure, Bank shall not be in excess of the amount shown opposite the name of such Bank under the column headed "Maximum Amount for such LenderAmount" as set forth in SCHEDULE 1 hereto, and (b) the such aggregate principal amount outstanding of all outstanding Revolving Loans held on the Notes issued to such Lender Bank shall represent that percentage of the aggregate principal amount then outstanding on all Revolving Loans Notes (including the Revolving Loans Notes held by such LenderBank) which is not in excess of such Lender’s Applicable Commitment Percentage with respect thereto; and (c) such aggregate principal amount outstanding on the Loans held such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Loans (including the Loans held by such Lender) that is not in excess of such Lender’s Aggregate Bank's Commitment Percentage. Each borrowing from the Lenders Banks hereunder shall be made on a Pro Rata Basis pro rata according to the Lenders’ Banks' respective Applicable Commitment Percentages. Borrower shall have the option, during the Commitment Period and subject to the terms and conditions set forth herein, to borrow hereunder up to the Total Commitment Amount by means of any combination of (a) Prime Rate Loans maturing on the last day of the Commitment Period and bearing interest at a rate per annum which shall be one hundred (100) basis points less than the Adjusted Prime Rate from time to time in effect, or (b) LIBOR Loans maturing on the last day of the Commitment Period and bearing interest at a rate per annum which shall be the Derived LIBOR Rate, which rate for each Interest Period shall be a fixed rate established at the beginning of each such Interest Period. Borrower shall pay interest on the unpaid principal amount of Prime Rate Loans outstanding from time to time from the date thereof until paid, commencing March 31, 1998, and continuing on the last day of each succeeding June, September, December and March of each year and at the maturity thereof. Borrower shall pay interest at a fixed rate for each Interest Period on the unpaid principal amount of each LIBOR Loan outstanding from time to time from the date thereof until paid, payable on each Interest Adjustment Date with respect to an Interest Period (provided that if an Interest Period exceeds three (3) months, the interest must be paid every three (3) months, commencing three (3) months from the beginning of such Interest Period). At the request of Borrower, provided no Unmatured Event of Default or Event of Default exists hereunder, the Banks shall convert Prime Rate Loans to LIBOR Loans at any time, subject to the notice and other provisions of Section 2.2 hereof, and shall convert LIBOR Loans to Prime Rate Loans on any Interest Adjustment Date. The Loans may be made as Revolving obligation of Borrower to repay the Prime Rate Loans and Letters the LIBOR Loans made by each Bank and to pay interest thereon shall be evidenced by a Revolving Credit Note of Borrower substantially in the form of EXHIBIT A hereto, with appropriate insertions, dated the Closing Date and payable to the order of such Bank on the last day of the Commitment Period in the principal amount of its Revolving Credit may Commitment, or, if less, the aggregate unpaid principal amount of Loans made hereunder by such Bank. Subject to the provisions of this Agreement, Borrower shall be issuedentitled under this Section 2.1 to borrow funds, as follows:repay the same in whole or in part and re-borrow hereunder at any time and from time to time during the Commitment Period.
Appears in 1 contract
Amount and Nature of Credit. (a) Subject to the terms and conditions of this Agreement, each Lender willthe Lenders, during the Commitment Period and to the extent hereinafter provided, shall make Loans to Borrowers, participate in Swing Loans made by the Swing Line Lender to US Borrower, and issue or participate in Letters of Credit issued at the request of BorrowersUS Borrower, in such aggregate amount as Borrowers shall request pursuant to the Commitment; provided, however, that in no event shall the aggregate principal amount of all Loans and Letter of Revolving Credit Exposure outstanding under this Agreement be in excess of the Total Commitment Amount. .
(b) Each US Lender, for itself and not one for any other Lenderother, agrees to make Loans US Revolving Loans, make or participate in Swing Loans, and to issue or participate in Letters of Credit issued hereunder Credit, during the Commitment Period Period, on such basis that (a) that, immediately after the completion of any borrowing by Borrowers US Borrower or the issuance of a Letter of Credit hereunderCredit, (i) the aggregate outstanding principal amount then outstanding on the of US Revolving Loans held made by such US Lender, when combined with such US Lender’s Pro Rata Share pro rata share of the Letter of Credit Exposure and the Swing Line Exposure, shall not be in excess of the Maximum Amount for such US Lender, and (bii) the aggregate outstanding principal amount outstanding of all outstanding US Revolving Loans held made by such US Lender shall represent that percentage of the aggregate principal amount then outstanding on all US Revolving Loans (including the Revolving Loans held by that shall be such Lender) which is not in excess of such US Lender’s Applicable Commitment Percentage with respect thereto; and Percentage. Each borrowing (other than Swing Loans) from the US Lenders hereunder shall be made pro rata according to the respective Applicable Commitment Percentages of the US Lenders.
(c) Each Canadian Lender, for itself and not one for any other, agrees to make CAD Revolving Loans, during the Commitment Period, on such basis that, immediately after the completion of any borrowing by Canadian Borrowers, (i) the Dollar Equivalent of the aggregate outstanding principal amount of CAD Revolving Loans made by such Canadian Lender shall not be in excess of the Maximum Amount for such Canadian Lender, and (ii) the aggregate outstanding on principal amount of the CAD Revolving Loans held made by such Canadian Lender shall represent that percentage of the aggregate principal amount then outstanding on all CAD Revolving Loans (including the Loans held by that shall be such Lender) that is not in excess of such Canadian Lender’s Aggregate Applicable Commitment Percentage. Each borrowing from the Canadian Lenders hereunder shall be made on a Pro Rata Basis pro rata according to the Lenders’ respective Applicable Commitment Percentages. Percentages of the Canadian Lenders.
(d) The Loans may be made as US Revolving Loans as described in Section 2.2(a) hereof, CAD Revolving Loans as described in Section 2.3 hereof and Swing Loans as described in Section 2.2(c) hereof, and Letters of Credit may be issued, as follows:issued in accordance with Section 2.2(b) hereof.
Appears in 1 contract
Samples: Credit Agreement (Applied Industrial Technologies Inc)
Amount and Nature of Credit. (a) Subject to the terms and conditions of this Agreement, each Lender willthe Lenders, during the Commitment Period and to the extent hereinafter provided, shall make Loans to BorrowersBorrower, participate in Swing Loans made by the Swing Line Lender to Borrower, and issue or participate in Letters of Credit issued at the request of BorrowersBorrower, in such aggregate amount as Borrowers Borrower shall request pursuant to the Commitment; provided, however, provided that in no event shall the aggregate principal amount of all Loans and Letter of Revolving Credit Exposure outstanding under this Agreement be in excess of the Total Commitment Amount. .
(b) Each Lender, for itself and not one for any other Lenderother, agrees to make Loans Loans, participate in Swing Loans, and to issue or participate in Letters of Credit issued hereunder Credit, during the Commitment Period Period, on such basis that (a) that, immediately after the completion of any borrowing by Borrowers Borrower or the issuance of a Letter of Credit hereunder, Credit:
(i) the Dollar Equivalent of the aggregate outstanding principal amount then outstanding on the of Loans held made by such Lender (other than Swing Loans made by the Swing Line Lender), when combined with such Lender’s Pro Rata Share pro rata share, if any, of the Letter of Credit Exposure and the Swing Line Exposure, shall not be in excess of the Maximum Amount for such Lender, ; and
(bii) the aggregate outstanding principal amount outstanding of all outstanding Revolving Loans held such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Revolving Loans (including the Revolving Loans held other than Swing Loans) made by such Lender) which is not in excess of such Lender’s Applicable Commitment Percentage with respect thereto; and (c) such aggregate principal amount outstanding on the Loans held such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Loans (including the Loans held by such Lenderother than Swing Loans) that is not in excess of shall be such Lender’s Aggregate Commitment Percentage. Each borrowing (other than Swing Loans) from the Lenders hereunder shall be made on a Pro Rata Basis pro rata according to the respective Commitment Percentages of the Lenders’ respective Applicable Commitment Percentages. .
(c) The Loans may be made as Revolving Loans as described in Section 2.2(a) hereof and as Swing Loans as described in Section 2.2(c) hereof, and Letters of Credit may be issued, as follows:issued in accordance with Section 2.2(b) hereof.
Appears in 1 contract
Amount and Nature of Credit. (a) Subject to the terms and conditions of this Agreement, each Lender willthe Lenders, during the Commitment Period and to the extent hereinafter provided, shall make Loans to Borrowers, participate in Swing Loans made by any Swing Line Lender to Borrowers, and issue or participate in Letters of Credit issued at the request of BorrowersAdministrative Borrower, in such aggregate amount as Borrowers shall request pursuant to the Commitment; provided, however, provided that in no event shall the aggregate principal amount of all Loans and Letter of Revolving Credit Exposure outstanding under this Agreement be in excess of the Total Commitment Amount. .
(b) Each Lender, for itself and not one for any other Lenderother, agrees to make Loans Loans, participate in Swing Loans, and to issue or participate in Letters of Credit issued hereunder Credit, during the Commitment Period Period, on such basis that (a) that, immediately after the completion of any borrowing by Borrowers or the issuance of a Letter of Credit hereunder, Credit:
(i) the Dollar Equivalent of the aggregate outstanding principal amount then outstanding on the of Loans held made by such Lender (other than Swing Loans made by any Swing Line Lender, ) when combined with such Lender’s Pro Rata Share pro rata share, if any, of the Letter of Credit Exposure and the Swing Line Exposure, shall not be in excess of the Maximum Amount for such Lender, ; and
(bii) the aggregate outstanding principal amount outstanding of all outstanding Revolving Loans held such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Revolving Loans (including the Revolving Loans held other than Swing Loans) made by such Lender) which is not in excess of such Lender’s Applicable Commitment Percentage with respect thereto; and (c) such aggregate principal amount outstanding on the Loans held such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Loans (including the Loans held by such Lenderother than Swing Loans) that is not in excess of shall be such Lender’s Aggregate Commitment Percentage. Each borrowing (other than Swing Loans which shall be risk participated on a pro rata basis) from the Lenders hereunder shall be made on a Pro Rata Basis pro rata according to the respective Commitment Percentages of the Lenders’ respective Applicable Commitment Percentages. .
(c) The Loans may be made as Revolving Loans as described in Section 2.2(a) hereof, as Domestic Swing Loans as described in Section 2.2(c) hereof and as Foreign Swing Loans as described in Section 2.2(d) hereof and Letters of Credit may be issued, as follows:issued in accordance with Section 2.2(b) hereof.
Appears in 1 contract
Samples: Credit Agreement (Nn Inc)
Amount and Nature of Credit. (a) Subject to the terms and conditions of this Agreement, each Lender willthe Lenders, during the Commitment Period and to the extent hereinafter provided, shall make Loans to BorrowersBorrower, participate in Swing Loans made by the Swing Line Lender to Borrower, and issue or participate in Letters of Credit issued at the request of BorrowersBorrower, in such aggregate amount as Borrowers Borrower shall request pursuant to the Commitment; provided, however, that in no event shall the aggregate principal amount of all Loans and Letter of Revolving Credit Exposure outstanding under this Agreement be in excess of the Total Commitment Amount. Revolving Credit Commitment.
(b) Each Lender, for itself and not one for any other Lenderother, agrees to make Loans Loans, participate in Swing Loans, and to issue or participate in Letters of Credit issued hereunder Credit, during the Commitment Period Period, on such basis that (a) that, immediately after the completion of any borrowing by Borrowers Borrower or the issuance of a Letter of Credit hereunder, Credit:
(i) the Dollar Equivalent of the aggregate principal amount then outstanding on the Loans held by Notes (other than the Swing Line Note) issued to such Lender or, if there is no Note outstanding to such Lender, when combined with such Lender’s Pro Rata Share 's pro rata share, if any, of the Letter of Credit Exposure and the Swing Line Exposure, shall not be in excess of the Maximum Amount for such Lender, ; and
(b) the aggregate principal amount outstanding of all outstanding Revolving Loans held such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Revolving Loans (including the Revolving Loans held by such Lender) which is not in excess of such Lender’s Applicable Commitment Percentage with respect thereto; and (cii) such aggregate principal amount outstanding on the Loans held Notes (other than the Swing Line Note) issued to such Lender or, if there is no Note outstanding to such Lender, shall represent that percentage of the aggregate principal amount then outstanding on all Loans (including other than the Loans held by Swing Loan) together with such Lender) 's interest in the Letter of Credit Exposure and the Swing Line Exposure that is not in excess of shall be such Lender’s Aggregate 's Commitment Percentage. Each borrowing (other than Swing Loans) from the Lenders hereunder shall be made on a Pro Rata Basis pro rata according to the respective Commitment Percentages of the Lenders’ respective Applicable Commitment Percentages. .
(c) The Loans may be made as Revolving Loans as described in Section 2.2 hereof and Swing Loans as described in Section 2.4. hereof, and Letters of Credit may be issued, as follows:issued in accordance with Section 2.3 hereof.
Appears in 1 contract
Samples: Credit Agreement (Pioneer Standard Electronics Inc)
Amount and Nature of Credit. Subject to the terms and conditions of this Agreement, each applicable Lender will, to the extent hereinafter provided, make Loans to Borrowers, and participate in Letters of Credit issued at the request of Borrowers and participate in Swing Loans made by the Swing Line Lender to the Borrowers, in such aggregate amount as Borrowers shall request pursuant to the Commitment; provided, however, that in no event shall the aggregate principal amount of all Loans and Letter of Credit Exposure outstanding under this Agreement be in excess of the Total Commitment Amount. Each applicable Lender, for itself and not for any other Lender, agrees to make Loans and Loans, to participate in Swing Loans and Letters of Credit issued hereunder during the Commitment Period on such basis that (a) immediately after the completion of any borrowing by Borrowers or issuance of a Letter of Credit hereunder, the aggregate principal amount then outstanding on the Loans held by such Lender (other than Swing Loans made by the Swing Line Lender), when combined with such LenderXxxxxx’s Pro Rata Share of the Letter of Credit Exposure and the Swing Line Exposure, shall not be in excess of the Maximum Amount for such Lender, ; (b) the aggregate principal amount outstanding of all outstanding Revolving Loans held such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Revolving Loans (including the Revolving Loans held by such Lender) which is not in excess of such Lender’s Applicable Commitment Percentage with respect thereto; (c) the aggregate principal amount of all outstanding Term Loans held by such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Term Loans (including the Term Loans held by such Lender) which is not in excess of such Lender’s Applicable Commitment Percentage with respect thereto; and (cd) such aggregate principal amount outstanding on the Loans held by such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Loans (including the Loans held by such Lender) that is not in excess of such Lender’s Aggregate Commitment Percentage. Each borrowing from the Lenders hereunder shall be made on a Pro Rata Basis according to the Lenders’ respective Applicable Commitment Percentages. The Loans may be made as Revolving Loans, as a Term Loan, as Swing Loans and Letters of Credit may be issued, as follows:
Appears in 1 contract
Amount and Nature of Credit. Subject to the terms and conditions of this Agreement, each Lender will, Bank will participate to the extent hereinafter provided, make provided in making Loans to BorrowersBorrower, and participate in issuing Letters of Credit issued at the request of BorrowersBorrower, in such aggregate amount as Borrowers Borrower shall request pursuant to the Commitment; provided, however, that in no event shall the aggregate principal amount of all Loans and Letter Letters of Credit Exposure outstanding under this Agreement be in excess of the Total Commitment Amount. Each LenderBank, for itself and not one for any other Lenderother, agrees to make Loans and to participate in Loans made and Letters of Credit issued hereunder during the Commitment Period on such basis that (a) immediately after the completion of any borrowing of Revolving Loans by Borrowers Borrower or issuance of a Letter of Credit hereunder, the aggregate principal amount then outstanding on the Loans held by Revolving Credit Notes issued to such LenderBank, when combined with such LenderBank’s Pro Rata Share pro rata share of the Letter of Credit Exposure, shall not be in excess of the Maximum Amount Revolving Credit Commitment for such LenderBank, and (b) the such aggregate principal amount outstanding of all outstanding on the Revolving Loans held Credit Notes issued to such Lender Bank shall represent that percentage of the aggregate principal amount then outstanding on all Revolving Loans Credit Notes (including the Revolving Loans Credit Notes held by such Lender) which is not in excess of such Lender’s Applicable Commitment Percentage with respect thereto; and (c) such aggregate principal amount outstanding on the Loans held such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Loans (including the Loans held by such LenderBank) that is not in excess of such LenderBank’s Aggregate Commitment Percentage. Each borrowing from the Lenders Banks hereunder shall be made on a Pro Rata Basis pro rata according to the LendersBanks’ respective Applicable Commitment Percentages. The Loans may be made as Revolving Loans or Swing Line Loans, and Letters of Credit may be issued, as follows:: A.
Appears in 1 contract
Amount and Nature of Credit. Subject to the terms and conditions of this Agreement, each Lender will, Bank will participate to the extent hereinafter provided, make provided in making Loans to BorrowersBorrower, and participate in issuing Letters of Credit issued at the request of BorrowersBorrower, in such aggregate amount as Borrowers Borrower shall request pursuant to the Commitment; provided, however, that in no event shall the aggregate principal amount of all Loans and Letter Letters of Credit Exposure outstanding under this Agreement be in excess of the Total Commitment Amount. Each LenderBank, for itself and not one for any other Lenderother, agrees to make Loans and to participate in Loans made and Letters of Credit issued hereunder during the Commitment Period on such basis that (a) immediately after the completion of any borrowing of Revolving Loans by Borrowers Borrower or issuance of a Letter of Credit hereunder, the aggregate principal amount then outstanding on the Loans held by Revolving Credit Notes issued to such LenderBank, when combined with such Lender’s Pro Rata Share Bank's pro rata share of the Letter of Credit Exposure, shall not be in excess of the Maximum Amount Revolving Credit Commitment for such LenderBank, and (b) the such aggregate principal amount outstanding of all outstanding on the Revolving Loans held Credit Notes issued to such Lender Bank shall represent that percentage of the aggregate principal amount then outstanding on all Revolving Loans Credit Notes (including the Revolving Loans Credit Notes held by such Lender) which is not in excess of such Lender’s Applicable Commitment Percentage with respect thereto; and (c) such aggregate principal amount outstanding on the Loans held such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Loans (including the Loans held by such LenderBank) that is not in excess of such Lender’s Aggregate Bank's Commitment Percentage. Each borrowing from the Lenders Banks hereunder shall be made on a Pro Rata Basis pro rata according to the Lenders’ Banks' respective Applicable Commitment Percentages. The Loans may be made as Revolving Loans Loans, the Term Loan and Letters of Credit may be issued, as follows:
Appears in 1 contract
Amount and Nature of Credit. (a) Subject to the terms and conditions of this Agreement, each Lender willthe Lenders, during the Commitment Period and to the extent hereinafter provided, shall make Loans to Borrowers, Borrowers participate in Swing Loans made by the Swing Line Lender to US Borrowers and issue or participate in Letters of Credit issued at the request of BorrowersAdministrative Borrower, in such aggregate amount as Borrowers shall request pursuant to the Commitment; provided, however, that in no event shall the aggregate principal amount of all Loans and Letter of Revolving Credit Exposure outstanding under this Agreement be in excess of the Total Commitment Amount. .
(b) Each Lender, for itself and not one for any other Lenderother, agrees to make Loans, participate in Swing Loans made by the Swing Line Lender to US Borrowers, and to issue or participate in Letters of Credit issued hereunder Credit, during the Commitment Period Period, on such basis that (a) that, immediately after the completion of any borrowing by Borrowers or the issuance of a Letter of Credit hereunder, Credit:
(i) the Dollar Equivalent of the aggregate outstanding principal amount then outstanding on the of Revolving Loans held made by such Lender, when combined with such Lender’s Pro Rata Share pro rata share of the Letter of Credit Exposure, Exposure and the Swing Line Exposure shall not be in excess of the Maximum Amount for such Lender, ; and
(bii) the aggregate outstanding principal amount outstanding of all outstanding Revolving Loans held made by such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Revolving Loans (including the Revolving Loans held by such Lender) which is not in excess of Loans, together with such Lender’s Applicable Commitment Percentage with respect thereto; interest in the Letter of Credit Exposure and (c) such aggregate principal amount outstanding on the Loans held such Lender Swing Line Exposure that shall represent that percentage of the aggregate principal amount then outstanding on all Loans (including the Loans held by such Lender) that is not in excess of be such Lender’s Aggregate Commitment Percentage. Each borrowing (other than Swing Loans which shall be risk participated on a pro rata basis) from the Lenders hereunder shall be made on a Pro Rata Basis pro rata according to the respective Commitment Percentages of the Lenders’ respective Applicable Commitment Percentages. .
(c) The Loans may be made as Revolving Loans as described in Section 2.2 (a) hereof and Swing Loans as described in Section 2.2 (c) hereof, and Letters of Credit may be issued, as follows:issued in accordance with Section 2.2(b) hereof.
Appears in 1 contract
Samples: Credit Agreement (IHS Inc.)
Amount and Nature of Credit. Subject to the terms and conditions provisions of this Agreementcredit agreement, each Lender will, Bank will participate to the extent hereinafter provided, make provided in making Loans to Borrowers, and participate in Letters of Credit issued at the request of Borrowers, Borrower in such aggregate amount as Borrowers Borrower shall request pursuant to the Revolving Credit Commitment and the Term Loan Commitment; provided, however, that in no event shall the aggregate principal amount of all Loans and Letter of Credit Exposure outstanding under this Agreement be in excess of credit agreement during the Commitment Period exceed the Total Commitment Amount. Each LenderBank, for itself and not one for any other Lenderother, agrees to make Loans and to participate in Letters of Credit issued borrowings made hereunder during the Commitment Period on such basis that (a) immediately after the completion of any borrowing by Borrowers or issuance of a Letter of Credit Borrower hereunder, the aggregate principal amount then outstanding on the Loans held by Notes issued to such Lender, when combined with such Lender’s Pro Rata Share of the Letter of Credit Exposure, Bank shall not be in excess of the amount shown opposite the name of such Bank under the column headed "Maximum Amount Amount" as set forth in Annex 1 hereto for such Lenderthe Commitment Period, and (b) the such aggregate principal amount outstanding of all outstanding Revolving Loans held on Notes issued to such Lender Bank shall represent that percentage of the aggregate principal amount then outstanding on all Revolving Loans Notes (including the Revolving Loans Notes held by such LenderBank) which is not in excess shown opposite the name of such Lender’s Applicable Commitment Percentage with respect thereto; and (c) such aggregate principal amount outstanding on Bank under the Loans held such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Loans (including the Loans held by such Lender) that is not column headed "Percentage" in excess of such Lender’s Aggregate Commitment PercentageAnnex 1 hereto. Each borrowing from from, and reduction of Commitments of, the Lenders Banks hereunder shall be made on a Pro Rata Basis pro rata according to the Lenders’ their respective Applicable Commitment PercentagesCommitments. The Loans may be made as Revolving Loans and Letters of Credit may be issued, as a Term Loan as follows:
Appears in 1 contract
Samples: Fourth Amendment Agreement (Park Ohio Industries Inc)
Amount and Nature of Credit. (a) Subject to the terms and conditions of this Agreement, each Lender willthe Lenders, during the Commitment Period and to the extent hereinafter provided, shall make Loans to BorrowersBorrower, participate in Swing Loans made by the Swing Line Lender to Borrower, and issue or participate in Letters of Credit issued at the request of BorrowersBorrower, in such aggregate amount as Borrowers Borrower shall request pursuant to the Commitment; provided, however, that in no event shall the aggregate principal amount of all Loans and Letter Letters of Credit Exposure outstanding under this Agreement be in excess of the Total Commitment Amount. .
(b) Each Lender, for itself and not one for any other Lenderother, agrees to make Loans Loans, participate in Swing Loans, and to issue or participate in Letters of Credit issued hereunder Credit, during the Commitment Period Period, on such basis that (a) that, immediately after the completion of any borrowing by Borrowers Borrower or the issuance of a Letter of Credit hereunder, Credit:
(i) the aggregate outstanding principal amount then outstanding on the of Loans held made by such Lender (other than Swing Loans made by the Swing Line Lender), when combined with such Lender’s Pro Rata Share pro rata share, if any, of the Letter of Credit Exposure and the Swing Line Exposure, shall not be in excess of the Maximum Amount for such Lender; and
(ii) with respect to each Specific Commitment, (b) the aggregate outstanding principal amount outstanding of all outstanding Revolving Loans held (other than Swing Loans) made by such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Revolving Loans (including the Revolving Loans held by such Lender) which is not in excess of such Lender’s Applicable Commitment Percentage with respect thereto; and (c) to such aggregate principal amount outstanding on the Loans held such Lender Specific Commitment shall represent that percentage of the aggregate principal amount then outstanding on all Loans (including the Loans held by other than Swing Loans) within such Lender) Specific Commitment that is not in excess of shall be such Lender’s Aggregate Applicable Commitment Percentage. Each Within each Specific Commitment, each borrowing (other than Swing Loans which shall be risk participated on a pro rata basis) from the Lenders hereunder shall be made on a Pro Rata Basis pro rata according to the Lenders’ respective Applicable Commitment Percentages. Percentages of the Lenders.
(c) The Loans may be made as Revolving Loans as described in Section 2.2(a) hereof, as a Term Loan B as described in Section 2.3 hereof, and as Swing Loans as described in Section 2.2(c) hereof, and Letters of Credit may be issued, as follows:issued in accordance with Section 2.2(b) hereof.
Appears in 1 contract
Amount and Nature of Credit. (a) Subject to the terms and conditions of this Agreement, each Lender willthe Lenders, during the Commitment Period and to the extent hereinafter provided, shall make Loans to Borrowers, participate in Swing Loans made by the Swing Line Lender to US Borrower, and issue or participate in Letters of Credit issued at the request of BorrowersAdministrative Borrower, in such aggregate amount as Borrowers shall request pursuant to the Commitment; provided, however, provided that in no event shall the aggregate principal amount of all Loans and Letter Letters of Credit Exposure outstanding under this Agreement be in excess of the Total Commitment Amount. .
(b) Each Lender, for itself and not one for any other Lenderother, agrees to make Loans Loans, participate in Swing Loans, and to issue or participate in Letters of Credit issued hereunder Credit, during the Commitment Period Period, on such basis that (a) that, immediately after the completion of any borrowing by Borrowers or the issuance of a Letter of Credit hereunder, Credit:
(i) the Dollar Equivalent of the aggregate outstanding principal amount then outstanding on the of Loans held made by such Lender (other than Swing Loans made by the Swing Line Lender), when combined with such Lender’s Pro Rata Share pro rata share of the Letter of Credit Exposure and the Swing Line Exposure, shall not be in excess of the Maximum Amount for such Lender, ; and
(bii) the aggregate outstanding principal amount outstanding of all outstanding Revolving Loans held such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Revolving Loans (including the Revolving Loans held other than Swing Loans) made by such Lender) which is not in excess of such Lender’s Applicable Commitment Percentage with respect thereto; and (c) such aggregate principal amount outstanding on the Loans held such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Loans (including the Loans held by such Lenderother than Swing Loans) that is not in excess of shall be such Lender’s Aggregate Commitment Percentage. Each borrowing (other than Swing Loans which shall be risk participated on a pro rata basis) from the Lenders hereunder shall be made on a Pro Rata Basis pro rata according to the respective Commitment Percentages of the Lenders’ respective Applicable Commitment Percentages. .
(c) The Loans may be made as Revolving Loans as described in Section 2.2(a) hereof and as Swing Loans as described in Section 2.2(c) hereof, and Letters of Credit may be issued, as follows:issued in accordance with Section 2.2(b) hereof.
Appears in 1 contract
Amount and Nature of Credit. (a) Subject to the terms and conditions of this Agreement, each Lender willthe Lenders, during the Commitment Period and to the extent hereinafter provided, shall make Loans to BorrowersBorrower, participate in Swing Loans made by the Swing Line Lender to Borrower, and issue or participate in Letters of Credit issued at the request of BorrowersBorrower, in such aggregate amount as Borrowers Borrower shall request pursuant to the Commitment; provided, however, provided that in no event shall the aggregate principal amount of all Loans outstanding and the Letter of Credit Exposure outstanding under this Agreement be in excess of the Total Commitment Amount. .
(b) Each Lender, for itself and not one for any other Lenderother, agrees to make Loans Loans, participate in Swing Loans, and to issue or participate in Letters of Credit issued hereunder Credit, during the Commitment Period Period, on such basis that (a) that, immediately after the completion of any borrowing by Borrowers Borrower or the issuance of a Letter of Credit hereunder, Credit:
(i) the Dollar Equivalent of the aggregate outstanding principal amount then outstanding on the of Loans held made by such Lender (other than Swing Loans made by the Swing Line Lender), when combined with such Lender’s Pro Rata Share pro rata share, if any, of the Letter of Credit Exposure and the Swing Line Exposure, shall not be in excess of the Maximum Amount for such Lender; and
(ii) with respect to each Specific Commitment, (b) the aggregate outstanding principal amount outstanding of all outstanding Revolving Loans held (other than Swing Loans) made by such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Revolving Loans (including the Revolving Loans held by such Lender) which is not in excess of such Lender’s Applicable Commitment Percentage with respect thereto; and (c) to such aggregate principal amount outstanding on the Loans held such Lender Specific Commitment shall represent that percentage of the aggregate principal amount then outstanding on all Loans (including the Loans held by other than Swing Loans) within such Lender) Specific Commitment that is not in excess of shall be such Lender’s Aggregate Applicable Commitment Percentage. Each Within each Specific Commitment, each borrowing (other than Swing Loans which shall be risk participated on a pro rata basis) from the Lenders hereunder shall be made on a Pro Rata Basis pro rata according to the Lenders’ respective Applicable Commitment Percentages. Percentages of the Lenders.
(c) The Loans may be made as Revolving Loans as described in Section 2.2(a) hereof, as the Term Loan as described in Section 2.3 hereof, and as Swing Loans as described in Section 2.2(c) hereof, and Letters of Credit may be issued, as follows:issued in accordance with Section 2.2(b) hereof.
Appears in 1 contract
Amount and Nature of Credit. Subject to the terms and conditions of this Agreement, each Lender will, to the extent hereinafter provided, make Loans to Borrowers, and participate in Letters of Credit issued at the request of Borrowers, in such aggregate amount as Borrowers shall request pursuant to the Commitment; provided, however, that in no event shall the aggregate principal amount of all Loans and Letter of Credit Exposure outstanding under this Agreement be in excess of the Total Commitment Amount. Each LenderBank, for itself and not one for any other Lenderother, agrees to make Loans and to participate in Letters of Credit issued Loans made hereunder during the Commitment Period on such basis that (a) immediately after the completion of any borrowing by Borrowers or issuance of a Letter of Credit hereunderBorrower, (a) the aggregate principal amount of Loans then outstanding on the Loans held made by such Lender, when combined with such Lender’s Pro Rata Share of the Letter of Credit Exposure, Bank shall not be in excess of the Maximum Amount for such LenderBank’s Commitment, (b) the aggregate principal amount of Loans outstanding of all outstanding Revolving Loans held made by such Lender Bank shall represent that percentage of the aggregate principal amount then outstanding on of all Revolving Loans (including the Revolving Loans held by that is such Lender) which is not in excess of such LenderBank’s Applicable Commitment Percentage with respect thereto; Percentage, and (c) such aggregate principal amount outstanding on the Loans held such Lender shall represent that percentage of the aggregate principal amount then outstanding on of all Loans (including the Loans held by such Lender) that is outstanding under this Agreement shall not be in excess of such Lender’s Aggregate the Total Commitment Percentage. Amount Each borrowing from the Lenders Banks hereunder shall be made on a Pro Rata Basis pro rata according to the Lenders’ respective Applicable Commitment PercentagesPercentages of the Banks in such amount or amounts as Borrower may from time to time request, but not exceeding in aggregate principal amount at any time outstanding hereunder the Total Commitment Amount. The Borrower shall have the option, during the Commitment Period subject to the terms and conditions set forth herein, to borrow Loans, which shall mature on the Maturity Date, by means of any combination of (a) Base Rate Loans, or (b) Eurodollar Loans. No Loans may be borrowed after the last day of the Commitment Period. Borrower shall be entitled repay Loans in whole or in part, but once repaid a Loan may not be re-borrowed. Borrower shall pay interest on the unpaid principal amount of Base Rate Loans made as Revolving to it outstanding from time to time from the date thereof until paid at the Base Rate from time to time in effect. Interest on such Base Rate Loans shall be payable on the last day of each September, December, March and Letters June of Credit may each year and at the maturity thereof. Borrower shall pay interest on the unpaid principal amount of each Eurodollar Loan made to it outstanding from time to time, fixed in advance on the first day of the Interest Period applicable thereto through the last day of the Interest Period applicable thereto (but subject to changes in the Applicable Margin), at the Derived Eurodollar Rate. Interest on such Eurodollar Loans shall be issuedpayable on each Interest Adjustment Date (provided that if an Interest Period exceeds three (3) months, as follows:the interest must be paid every three (3) months, commencing three (3) months from the beginning of such Interest Period). At the request of Borrower to Agent, subject to the notice and other provisions of Section 2.02 hereof, the Banks shall convert outstanding Base Rate Loans to Eurodollar Loans at any time and shall convert outstanding Eurodollar Loans to Base Rate Loans on any Interest Adjustment Date. The obligation of Borrower to repay Loans made to it by each Bank pursuant to this Section 2.01 and to pay interest thereon shall be evidenced by a Note of Borrower in the form of Exhibit A hereto, payable to the order of such Bank in the principal amount of its Commitment.
Appears in 1 contract
Samples: Credit Agreement (Nordson Corp)
Amount and Nature of Credit. Subject to the terms and conditions of this Agreement, each Lender will, Bank will participate to the extent hereinafter provided, make provided in making Loans to BorrowersBorrower, and participate in issuing Letters of Credit issued at the request of BorrowersBorrower, in such aggregate amount as Borrowers Borrower shall request pursuant to the Commitment; provided, however, that in no event shall the aggregate principal amount of all Loans and Letter Letters of Credit Exposure outstanding under this Agreement be in excess of the Total Commitment Amount. Each LenderBank, for itself and not one for any other Lenderother, agrees to make Loans and to participate in Revolving Loans made and Letters of Credit issued hereunder during the Commitment Period on such basis that (a) immediately after the completion of any borrowing of Revolving Loans by Borrowers Borrower or issuance of a Letter of Credit hereunder, the aggregate principal amount of the then outstanding on the Loans held by such LenderRevolving Loans, when combined with such LenderBank’s Pro Rata Share pro rata share of the Letter of Credit Exposure, shall not be in excess of the Maximum Amount Revolving Credit Commitment for such LenderBank, and (b) the such aggregate principal amount outstanding of all outstanding the Revolving Loans held such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Revolving Loans (including the Revolving Loans held by such Lender) which is not in excess of such Lender’s Applicable Commitment Percentage with respect thereto; and (c) such aggregate principal amount outstanding on the Loans held such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Loans (including the Loans held by such LenderBank) that is not in excess such Bank’s Commitment Percentage of such Lender’s Aggregate Commitment PercentageRevolving Credit Commitments. Each borrowing from the Lenders Banks hereunder shall be made on a Pro Rata Basis pro rata according to the LendersBanks’ respective Applicable Commitment Percentages. The Loans may be made as Revolving Loans, Swing Line Loans or Incremental Term Loans, and Letters of Credit may be issued, as follows:
Appears in 1 contract
Amount and Nature of Credit. (a) Subject to the terms and conditions of this Agreement, each Lender willthe Lenders, during the Commitment Period and to the extent hereinafter provided, shall make Loans to BorrowersBorrower, participate in Swing Loans made by the Swing Line Lender to Borrower, and issue or participate in Letters of Credit issued at the request of BorrowersBorrower, in such aggregate amount as Borrowers Borrower shall request pursuant to the Commitment; provided, however, provided that in no event shall the aggregate principal amount of all Loans and Letter Letters of Credit Exposure outstanding under this Agreement be in excess of the Total Commitment Amount. .
(b) Each Lender, for itself and not one for any other Lenderother, agrees to make Loans Loans, participate in Swing Loans, and to issue or participate in Letters of Credit issued hereunder Credit, during the Commitment Period Period, on such basis that (a) that, immediately after the completion of any borrowing by Borrowers Borrower or the issuance of a Letter of Credit hereunder, Credit:
(i) the aggregate outstanding principal amount then outstanding on the of Loans held made by such Lender (other than Swing Loans made by the Swing Line Lender), when combined with such Lender’s Pro Rata Share 's pro rata share of the Letter of Credit Exposure and the Swing Line Exposure, shall not be in excess of the Maximum Amount for such Lender, ; and
(bii) the aggregate outstanding principal amount outstanding of all outstanding Revolving Loans held such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Revolving Loans (including the Revolving Loans held other than Swing Loans) made by such Lender) which is not in excess of such Lender’s Applicable Commitment Percentage with respect thereto; and (c) such aggregate principal amount outstanding on the Loans held such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Loans (including the Loans held by other than Swing Loans) that shall be such Lender) that is not in excess of such Lender’s Aggregate 's Commitment Percentage. Each borrowing (other than Swing Loans which shall be risk participated on a pro rata basis) from the Lenders hereunder shall be made on a Pro Rata Basis pro rata according to the respective Commitment Percentages of the Lenders’ respective Applicable Commitment Percentages. .
(c) The Loans may be made as Revolving Loans as described in Section 2.2(a) hereof, and as Swing Loans as described in Section 2.2(c) hereof, and Letters of Credit may be issued, as follows:issued in accordance with Section 2.2(b) hereof.
Appears in 1 contract
Samples: Credit and Security Agreement (Kratos Defense & Security Solutions, Inc.)
Amount and Nature of Credit. (a) Subject to the terms and conditions of this Agreement, each Lender willthe Lenders, during the Commitment Period and to the extent hereinafter provided, shall make Loans to Borrowers, participate in Swing Loans made by the Swing Line Lender to US Borrower, and issue or participate in Letters of Credit issued at the request of BorrowersUS Borrower, in such aggregate amount as Borrowers shall request pursuant to the Commitment; provided, however, that in no event shall the aggregate principal amount of all Loans and Letter of Revolving Credit Exposure outstanding under this Agreement be in excess of the Total Commitment Amount. .
(b) Each US Lender, for itself and not one for any other Lenderother, agrees to make Loans US Revolving Loans, make or participate in Swing Loans, and to issue or participate in Letters of Credit issued hereunder Credit, during the Commitment Period Period, on such basis that (a) that, immediately after the completion of any borrowing by Borrowers US Borrower or the issuance of a Letter of Credit hereunderCredit, (i) the aggregate outstanding principal amount then outstanding on the of US Revolving Loans held made by such US Lender, when combined with such US Lender’s Pro Rata Share 's pro rata share of the Letter of Credit Exposure and the Swing Line Exposure, shall not be in excess of the Maximum Amount for such US Lender, and (bii) the aggregate outstanding principal amount outstanding of all outstanding US Revolving Loans held made by such US Lender shall represent that percentage of the aggregate principal amount then outstanding on all US Revolving Loans that shall be such US Lender's Applicable Commitment Percentage. Each borrowing (including other than Swing Loans) from the US Lenders hereunder shall be made pro rata according to the respective Applicable Commitment Percentages of the US Lenders.
(c) Each Canadian Lender, for itself and not one for any other, agrees to make CAD Revolving Loans, during the Commitment Period, on such basis that, immediately after the completion of any borrowing by Canadian Borrowers, (i) the Dollar Equivalent of the aggregate outstanding principal amount of CAD Revolving Loans held made by such Lender) which is Canadian Lender shall not be in excess of the Maximum Amount for such Canadian Lender’s Applicable Commitment Percentage with respect thereto; , and (cii) such the aggregate outstanding principal amount outstanding on of the CAD Revolving Loans held made by such Canadian Lender shall represent that percentage of the aggregate principal amount then outstanding on all CAD Revolving Loans (including the Loans held by that shall be such Canadian Lender) that is not in excess of such Lender’s Aggregate 's Applicable Commitment Percentage. Each borrowing from the Canadian Lenders hereunder shall be made on a Pro Rata Basis pro rata according to the Lenders’ respective Applicable Commitment Percentages. Percentages of the Canadian Lenders.
(d) The Loans may be made as US Revolving Loans as described in Section 2.2(a) hereof, CAD Revolving Loans as described in Section 2.3 hereof and Swing Loans as described in Section 2.2(c) hereof, and Letters of Credit may be issued, as follows:issued in accordance with Section 2.2(b) hereof.
Appears in 1 contract
Samples: Credit Agreement (Applied Industrial Technologies Inc)
Amount and Nature of Credit. Subject to the terms and conditions of this Agreement, each Lender will, Bank will participate to the extent hereinafter providedprovided in making the Term Loan to Borrower, make Loans to Borrowers, and participate in Letters of Credit issued at the request of Borrowers, in such aggregate amount as Borrowers shall request pursuant to the CommitmentTerm Loan Commitments; provided, however, that in no event shall the aggregate principal amount of all Loans and Letter of Credit Exposure outstanding under this Agreement the Term Loan be in excess of the Total Commitment Amount. Each LenderBank, for itself and not one for any other Lenderother, agrees to make Loans and to participate in Letters of Credit issued hereunder during making the Commitment Period Term Loan on such basis that (a) immediately after the completion making of any borrowing by Borrowers or issuance of a Letter of Credit the Term Loan to Borrower hereunder, the aggregate principal amount then outstanding on the Loans held by Note issued to such Lender, when combined with such Lender’s Pro Rata Share of the Letter of Credit Exposure, Bank shall not be in excess of the Maximum Term Loan Commitment Amount for such LenderBank, and (b) the such aggregate principal amount outstanding of all outstanding Revolving Loans held on the Note issued to such Lender Bank shall represent that percentage of the aggregate principal amount then outstanding on all Revolving Loans Notes (including the Revolving Loans Note held by such Lender) which is not in excess of such Lender’s Applicable Commitment Percentage with respect thereto; and (c) such aggregate principal amount outstanding on the Loans held such Lender shall represent that percentage of the aggregate principal amount then outstanding on all Loans (including the Loans held by such LenderBank) that is not in excess of such Lender’s Aggregate Bank's Term Loan Commitment Percentage. Each borrowing Subject to the terms and conditions of this Agreement, the Banks shall make the Term Loan to Borrower on the Closing Date, in the aggregate amount of the Term Loan Commitments. To evidence the Term Loan, Borrower shall execute and deliver to each Bank a Term Note, in the form of Exhibit A hereto. The Term --------- Loan shall be payable in full on the Maturity Date. Borrower shall notify Agent, in accordance with the notice provisions of Section 2.2 hereof, whether the Term Loan will bear interest at the Prime Rate Option or one or more LIBOR Rate Options. The Term Loan may be a mixture of a Prime Rate Option and LIBOR Rate Options. At the request of Borrower to Agent, subject to the applicable notice and other provisions of Section 2.2 hereof, the Banks shall change all or any part of the Prime Interest Segment to a LIBOR Rate Option at any time and shall change any LIBOR Interest Segment to a Prime Rate Option on the Interest Adjustment Date applicable to such LIBOR Interest Segment. With respect to the Prime Interest Segment, if any, Borrower shall pay interest on the unpaid principal amount thereof outstanding from time to time from the Lenders hereunder date thereof until paid, commencing June 30, 2000, and continuing on the last day of each succeeding September, December, March and June thereafter and at the maturity thereof, at the Derived Prime Rate from time to time in effect. With respect to each LIBOR Interest Segment, Borrower shall pay interest on the unpaid principal amount thereof outstanding from time to time from the date thereof until paid, at the Derived LIBOR Rate, fixed in advance for each Interest Period (but subject to changes in the Applicable Margin) as herein provided for each such Interest Period. Interest on each such LIBOR Interest Segment shall be made payable on a Pro Rata Basis according to the Lenders’ respective Applicable Commitment Percentages. The Loans may Interest Adjustment Date applicable thereto (provided that, if an Interest Period exceeds three (3) months, the interest must be made as Revolving Loans and Letters paid every three (3) months, commencing three (3) months from the beginning of Credit may be issued, as follows:such Interest Period).
Appears in 1 contract