Common use of Amount and Nature of Credit Clause in Contracts

Amount and Nature of Credit. Subject to the terms and conditions of this Agreement, each Bank shall participate, to the extent hereinafter provided, in making Loans to 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 outstanding under this Agreement be in excess of the Total Commitment Amount. Each Bank, for itself and not one for any other, agrees to participate in Loans made hereunder during the Commitment Period on such basis that immediately after the completion of any borrowing by Borrowers, (a) the aggregate principal amount of Loans (other than Swing Loans) then outstanding made by such Bank shall not be in excess of such Bank’s Revolving Commitment, and (b) the aggregate principal amount of Loans (other than Swing Loans) outstanding made by such Bank shall represent that percentage of the aggregate principal amount then outstanding of all Loans that is such Bank’s Commitment Percentage. Each borrowing (other than Swing Loans) from the Banks hereunder shall be made pro rata according to the respective Commitment Percentages of the Banks. The Loans may be made as Revolving Loans and Swing Loans as follows:

Appears in 5 contracts

Samples: Credit Agreement (Nordson Corp), Credit Agreement (Nordson Corp), Credit Agreement (Nordson Corp)

AutoNDA by SimpleDocs

Amount and Nature of Credit. Subject to the terms and conditions of this Agreement, each Bank shall participate, to the extent hereinafter provided, in making Revolving Loans to Borrowers Borrower, and issuing Letters of Credit at the request of Borrower, 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 Revolving Loans and Letters of Credit outstanding under this Agreement be in excess of the Total Commitment Amount. Each Bank, for itself and not one for any other, agrees 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 BorrowersBorrower or issuance of a Letter of Credit, (a) the aggregate principal amount of Loans (other than Swing Loans) then outstanding made by on the Note issued to such Bank Bank, when combined with such Bank's pro rata share of the Letter of Credit Exposure shall not be in excess of the Maximum Amount for such Bank’s Revolving Commitment, and (b) the such aggregate principal amount of Loans (other than Swing Loans) outstanding made by on the Note issued to such Bank shall represent that percentage of the aggregate principal amount then outstanding of on all Loans Notes (including the Note held by such Bank) that is such Bank’s 's Commitment Percentage. Each borrowing (other than Swing Loans) from the Banks hereunder shall be made pro rata according to the respective Commitment Percentages of the Banks. The Loans may be made as Revolving Loans Loans, and Swing Loans Letters of Credit may be issued, as follows:

Appears in 3 contracts

Samples: Credit and Security Agreement (Park Ohio Holdings Corp), Credit and Security Agreement (Park Ohio Industries Inc/Oh), Credit and Security Agreement (Park Ohio Holdings Corp)

Amount and Nature of Credit. Subject to the terms and conditions of this Agreement, each Bank shall participate, will participate to the extent hereinafter provided, provided in making Loans to Borrowers Borrower, 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 outstanding under this Agreement be in excess of the Total Commitment Amount. Each Bank, for itself and not one for any other, agrees to participate in Loans made hereunder during the Commitment Period on such basis that (a) immediately after the completion of any borrowing by Borrowers, (a) Borrower the aggregate principal amount of Loans (other than Swing Loans) then outstanding made by on the Notes issued to such Bank Bank, shall not be in excess of the Maximum Amount for such Bank’s Revolving Commitment, and (b) the such aggregate principal amount of Loans (other than Swing Loans) outstanding made by on the Notes issued to such Bank shall represent that percentage of the aggregate principal amount then outstanding of on all Loans Notes (including the Notes held by such Bank) that is such Bank’s 's Commitment Percentage. Each borrowing (other than Swing Loans) from the Banks hereunder shall be made pro rata according to the Banks' respective Commitment Percentages of the BanksPercentages. The Loans may be made as Revolving Tranche A Loans, Tranche B Loans and Swing Tranche C Loans as follows:

Appears in 2 contracts

Samples: Credit Agreement (Park Ohio Holdings Corp), Credit Agreement (Park Ohio Industries Inc/Oh)

Amount and Nature of Credit. Subject to the terms and conditions of this Agreement, each Bank shall participate, will participate to the extent hereinafter provided, provided in making Loans to Borrowers Borrower, and issuing Letters of Credit at the request of Borrower, 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 Letters of Credit outstanding under this Agreement be in excess of the Total Commitment Amount. Each Bank, for itself and not one for any other, agrees 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 BorrowersBorrower or issuance of a Letter of Credit hereunder, (a) the aggregate principal amount of Loans (other than Swing Loans) then outstanding made by on the Notes issued to such Bank Bank, when combined with such Bank's pro rata share of the Letter of Credit Exposure, shall not be in excess of the Revolving Credit Commitment for such Bank’s Revolving Commitment, and (b) the such aggregate principal amount of Loans (other than Swing Loans) outstanding made by on the Notes issued to such Bank shall represent that percentage of the aggregate principal amount then outstanding of on all Loans Notes (including the Notes held by such Bank) that is such Bank’s 's Commitment Percentage. Each borrowing (other than Swing Loans) from the Banks hereunder shall be made pro rata according to the Banks' respective Commitment Percentages of the BanksPercentages. The Loans may be made as Revolving Loans Loans, and Swing Loans Letters of Credit may be issued, as follows:

Appears in 1 contract

Samples: Credit Agreement (Davey Tree Expert Co)

Amount and Nature of Credit. Subject to the terms and conditions of this Agreement, each Bank shall will participate, to the extent hereinafter provided, in making Loans to Borrowers Borrower, 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 outstanding under this Agreement be in excess of the Total Commitment Amount. Each Bank, for itself and not one for any other, agrees to participate in Loans made hereunder during the Commitment Period on such basis that (a) immediately after the completion of any borrowing by BorrowersBorrower hereunder, (a) the aggregate principal amount of Loans then outstanding on the Notes (other than the Swing LoansLine Note) then outstanding made by issued to such Bank shall not be in excess of the Revolving Credit Commitment for such Bank’s Revolving Commitment, and (b) the such aggregate principal amount of Loans outstanding on the Notes (other than the Swing LoansLine Note) outstanding made by issued to such Bank shall represent that percentage of the aggregate principal amount then outstanding of on all Loans that Notes (other than the Swing Line Note) which is such Bank’s 's Commitment Percentage. Each borrowing (other than the Swing Loans) from the Banks hereunder shall be made pro rata according to the Banks' respective Commitment Percentages of the BanksPercentages. The Loans may be made as Revolving Loans and Swing Loans as follows:

Appears in 1 contract

Samples: Credit Agreement (Steris Corp)

Amount and Nature of Credit. Subject to the terms and conditions of this Agreement, each Bank shall participate, to the extent hereinafter provided, in making Loans to Borrowers Borrower 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 outstanding under this Agreement be in excess of the Total Commitment Amount. Each Bank, for itself and not one for any other, agrees to participate in Loans made hereunder during the Commitment Period on such basis that immediately after the completion of any borrowing by BorrowersBorrower, (a) the aggregate principal amount of Loans then outstanding on the Notes (other than the Swing LoansLine Note) then outstanding made by issued to such Bank shall not be in excess of the Maximum Amount for such Bank’s Revolving Commitment, and (b) the aggregate principal amount of Loans outstanding on the Notes (other than the Swing LoansLine Note) outstanding made by issued to such Bank shall represent that percentage of the aggregate principal amount then outstanding of on all Loans Notes (including the Notes held by such Bank) that is such Bank’s 's Commitment Percentage. Each borrowing (other than Swing Loans) from the Banks hereunder shall be made pro rata according to the respective Commitment Percentages of the Banks. The Loans may be made as Revolving Tranche A Loans, Swing Loans and Swing Tranche B Loans, and Tranche B Loans may be converted to a Term Loan as follows: A. Tranche A Commitment.

Appears in 1 contract

Samples: Credit Agreement (Standard Register Co)

Amount and Nature of Credit. Subject to the terms and conditions of this Agreement, each Bank shall participate, will participate to the extent hereinafter provided, provided in making Loans to Borrowers Borrower, and issuing Letters of Credit at the request of Borrower, 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 Letters of Credit outstanding under this Agreement be in excess of the Total Commitment Amount. Each Bank, for itself and not one for any other, agrees 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 BorrowersBorrower or issuance of a Letter of Credit hereunder, (a) the aggregate principal amount of Loans then outstanding on the Notes (other than the Swing LoansLine Note) then issued to such Bank, when combined with such Bank's pro rata share of the aggregate undrawn face amount of all issued and outstanding made by such Bank Letters of Credit, shall not be in excess of the amount shown opposite the name of such Bank’s Revolving CommitmentBank under the column headed "Maximum Amount" as set forth in SCHEDULE 1 hereto, and (b) the such aggregate principal amount of Loans outstanding on the Notes (other than the Swing LoansLine Note) outstanding made by issued to such Bank shall represent that percentage of the aggregate principal amount then outstanding of on all Loans that Notes (other than the Swing Line Note) which is such Bank’s 's Commitment Percentage. Each borrowing (other than Swing Loans) from the Banks hereunder shall be made pro rata according to the respective Commitment Percentages of the Banks. The Loans may be made as Revolving Loans and Swing Loans as follows:.

Appears in 1 contract

Samples: Credit Agreement (Oglebay Norton Co)

AutoNDA by SimpleDocs

Amount and Nature of Credit. Subject to the terms and conditions of this Agreement, each Bank shall participate, to the extent hereinafter provided, in making Loans to Borrowers Borrower 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 outstanding under this Agreement be in excess of the Total Commitment Amount. Each Bank, for itself and not one for any other, agrees to participate in Loans made hereunder during the Commitment Period on such basis that immediately after the completion of any borrowing by BorrowersBorrower, (a) the aggregate principal amount of Loans (other than Swing Loans) then outstanding made by such Bank shall not be in excess of such Bank’s Revolving Commitment, and (b) the aggregate principal amount of Loans (other than Swing Loans) outstanding made by such Bank shall represent that percentage of the aggregate principal amount then outstanding of all Loans that is such Bank’s Commitment Percentage. Each borrowing (other than Swing Loans) from the Banks hereunder shall be made pro rata according to the respective Commitment Percentages of the Banks. The Loans may be made as Revolving Loans and Swing Loans as follows:

Appears in 1 contract

Samples: Credit Agreement (Nordson Corp)

Amount and Nature of Credit. Subject to the terms and conditions of this Agreement, each Bank shall participate, will participate to the extent hereinafter provided, provided in making Loans to Borrowers Borrowers, and issuing Letters of Credit 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 Letters of Credit outstanding under this Agreement be in excess of the lesser of the Total Commitment AmountAmount or the Revolving Credit Commitment. Each Bank, for itself and not one for any other, agrees 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 BorrowersBorrowers or issuance of a Letter of Credit hereunder, (a) the aggregate principal amount of Loans (other than Swing Loans) then outstanding made by on the Notes issued to such Bank Bank, when combined with such Bank's pro rata share of the Letter of Credit Exposure, shall not be in excess of the lesser of the Maximum Amount for such Bank’s Revolving CommitmentBank and the then existing Borrowing Base, and (b) the such aggregate principal amount of Loans (other than Swing Loans) outstanding made by on the Notes issued to such Bank shall represent that percentage of the aggregate principal amount then outstanding of on all Loans Notes (including the Notes held by such Bank) that is such Bank’s 's Commitment Percentage. Each borrowing (other than Swing Loans) from the Banks hereunder shall be made pro rata according to the Banks' respective Commitment Percentages of the BanksPercentages. The Loans may be made as Revolving Loans and Swing Loans Letters of Credit may be issued, as follows:

Appears in 1 contract

Samples: Credit and Security Agreement (Res Care Inc /Ky/)

Amount and Nature of Credit. Subject to the terms and conditions of this Agreement, each Bank shall participate, to the extent hereinafter provided, in making Loans to Borrowers Borrowers, and issuing Letters of Credit 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 Letters of Credit outstanding under this Agreement be in excess of the Total Commitment Amount. Each Bank, for itself and not one for any other, agrees 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 BorrowersBorrowers or the issuance of a Letter of Credit hereunder, (a) the aggregate principal amount of Loans then outstanding on the Notes (other than the Swing LoansLine Note) then outstanding made by issued to such Bank or, if there is no Note, outstanding from such Bank, when combined with such Bank's pro rata share of the Letter of Credit Exposure, shall not be in excess of the Maximum Amount for such Bank’s Revolving Commitment, and (b) the such aggregate principal amount of Loans outstanding on the Notes (other than the Swing LoansLine Note) outstanding made by issued to such Bank or, if there is no Note, outstanding from such Bank, shall represent that percentage of the aggregate principal amount of Loans then outstanding of all Loans under the Revolving Credit Commitment that is shall be such Bank’s 's Commitment Percentage. Each borrowing (other than Swing Loans) from the Banks hereunder shall be made pro rata according to the respective Commitment Percentages of the Banks. The Loans may be made as Revolving Loans and Swing Loans Loans, and Letters of Credit may be issued, as follows:

Appears in 1 contract

Samples: Credit Agreement (Cedar Fair L P)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!