Common use of Amount and Terms of Commitments Clause in Contracts

Amount and Terms of Commitments. 2.1 Term Loan Commitments; Revolving Credit commitments. (a) Subject to the terms and conditions hereof, each Term Loan Lender severally agrees to make a term loan (a "Term Loan") to the Borrower on the Closing Date in an amount not to exceed the amount of the Term Loan Commitment of such Lender. The Term Loans may from time to time be Eurodollar Loans or Base Rate Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 2.2 and 2.8. (b) Subject to the terms and conditions hereof, each Revolving Credit Lender severally agrees to make revolving credit loans ("Revolving Credit Loans") to the Borrower from time to time during the Revolving Credit Commitment Period in an aggregate principal amount at any one time outstanding which does not exceed the amount of such Lender's Revolving Credit Commitment. During the Revolving Credit Commitment Period the Borrower may use the Revolving Credit Commitments by borrowing, prepaying the Revolving Credit Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. The Revolving Credit Loans may from time to time be Eurodollar Loans or Base Rate Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 2.5 and 2.8, provided that no Revolving Credit Loan shall be made as a Eurodollar Loan after the day that is one month prior to the Revolving Credit Termination Date.

Appears in 2 contracts

Samples: Credit Agreement (Bear Island Finance Co Ii), Credit Agreement (Bear Island Finance Co Ii)

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Amount and Terms of Commitments. 2.1 Term Loan Commitments; Revolving Credit commitmentsCommitments. (a) Subject to the terms and conditions hereof, each Term Loan Lender severally agrees to make a term loan (a "Term Loan") to the Borrower on the Closing Date in an amount not to exceed the amount of the Term Loan Commitment of such Lender. The Term Loans may from time to time be Eurodollar Loans or Base Rate Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 2.2 and 2.8. (b) Subject to the terms and conditions hereof, each Revolving Credit Lender Lenders severally agrees agree to make revolving credit loans ("Revolving Credit Loans") to the Borrower from time to time during the Revolving Credit Commitment Period in an aggregate principal amount at any one time outstanding which for each Revolving Credit Lender which, when added to such Lender's Revolving Credit Percentage of the sum of (i) the BoA L/C Obligations then outstanding and (ii) the aggregate principal amount of the Swing Line Loans then outstanding, does not exceed the amount of such Lender's Revolving Credit Commitment. During the Revolving Credit Commitment Period the Borrower may use the Revolving Credit Commitments by borrowing, prepaying the Revolving Credit Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. The Revolving Credit Loans may from time to time be Eurodollar Loans or Base Rate Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 2.5 2.2 and 2.82.11, provided that that, (i) no Revolving Credit Loan shall be made as a Eurodollar Loan after the day that is one month prior to the Initial Maturity Date unless the Borrower has elected to extend the Initial Maturity Date pursuant to Section 2.6 and (ii) if the Initial Maturity Date has been extended in accordance with Section 2.6 hereof, no Revolving Credit Loan shall be made as a Eurodollar Loan after the date that is one month prior to the Final Maturity Date. (b) The Borrower shall repay all outstanding Revolving Credit Loans on the Revolving Credit Termination Date.

Appears in 1 contract

Samples: Credit Agreement (Brookdale Senior Living Inc.)

Amount and Terms of Commitments. 2.1 Term Loan Revolving Commitments; Revolving Credit commitments. (a) Subject to the terms and conditions hereof, each Term Loan Lender severally agrees to make a term loan (a "Term Loan") to the Borrower on the Closing Date in an amount not to exceed the amount of the Term Loan Commitment of such Lender. The Term Loans may from time to time be Eurodollar Loans or Base Rate Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 2.2 and 2.8. (b) Subject to the terms and conditions hereof, each Revolving Credit Lender severally agrees to make revolving credit loans ("each, a “Revolving Credit Loans"Loan”) in U.S. Dollars to the Borrower from time to time during the Revolving Credit Commitment Period in an aggregate principal amount at any one time outstanding which so long as after giving effect thereto (i) the Available Revolving Credit Commitment of each Lender with a Revolving Credit Commitment is greater than or equal to zero and (ii) the Aggregate Revolving Credit Outstanding of all Lenders does not exceed the amount of such Lender's Aggregate Revolving Credit CommitmentCommitments. During the Revolving Credit Commitment Period the Borrower may use the Revolving Credit Commitments by borrowing, prepaying the Revolving Credit Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. The Revolving Credit Loans may from time to time be (i) Eurodollar Loans, (ii) Prime Loans or Base Rate Loans(iii) a combination thereof, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 2.5 subsections 2.2 and 2.84.2, provided that no Revolving Credit Loan shall be made as a Eurodollar Loan after the day that is one month prior to the Revolving Credit Termination Date.

Appears in 1 contract

Samples: Credit Agreement (Napco Security Systems Inc)

Amount and Terms of Commitments. 2.1 Term Loan 1 Revolving Commitments; Revolving Credit commitments. (a) Subject to the terms and conditions hereof, each Term Loan Lender severally agrees to make a term loan (a "Term Loan") to the Borrower on the Closing Date in an amount not to exceed the amount of the Term Loan Commitment of such Lender. The Term Loans may from time to time be Eurodollar Loans or Base Rate Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 2.2 and 2.8. (b) Subject to the terms and conditions hereof, each Revolving Credit Lender severally agrees to make revolving credit loans ("Revolving Credit Loans") to the Borrower from time to time during the Revolving Credit Commitment Period in an aggregate principal amount at any one time outstanding which which, when added to such Lender's Revolving Percentage of the sum of (i) the L/C Obligations then outstanding and (ii) the aggregate principal amount of the Swingline Loans then outstanding, does not exceed the amount of such Lender's Revolving Credit Commitment. During the Revolving Credit Commitment Period the Borrower may use the Revolving Credit Commitments by borrowing, prepaying the Revolving Credit Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. The Revolving Credit Loans may from time to time be Eurodollar Loans or Base Rate ABR Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 2.5 2.2 and 2.82.9, provided that no Revolving Credit Loan shall be made as a Eurodollar Loan after the day that is one month prior to the Revolving Credit Termination Date. (b) The Borrower shall repay all outstanding Revolving Loans on the Revolving Termination Date.

Appears in 1 contract

Samples: Credit Agreement (Selfix Inc /De/)

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Amount and Terms of Commitments. 2.1 Term Loan Commitments; Revolving Credit commitmentsCommitments. (a) Subject to the terms and conditions hereof, each Term Loan Lender severally agrees to make a term loan (a "Term Loan") to the Borrower on the Closing Date in an amount not to exceed the amount of the Term Loan Commitment of such Lender. The Term Loans may from time to time be Eurodollar Loans or Base Rate Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 2.2 and 2.8. (b) Subject to the terms and conditions hereof, each Revolving Credit Lender severally agrees to make revolving credit loans ("Revolving Credit Loans") to each of the Borrower Borrowers from time to time during the Revolving Credit Commitment Period in an aggregate principal amount as to all of the Borrowers at any one time outstanding which which, when added to such Lender's Commitment Percentage of the sum of the then outstanding L/C Obligations and the then outstanding Swing Line Loans, does not exceed the amount of such Lender's Revolving Credit CommitmentCommitment then in effect, provided that no Lender shall make any Revolving Credit Loan in any Designated Foreign Currency if, after giving effect to the making of such Revolving Credit Loan, the Dollar Equivalent of the then outstanding Revolving Credit Loans in any Designated Foreign Currencies would exceed $75,000,000 (it being understood and agreed that the Administrative Agent shall calculate the Dollar Equivalent of the then outstanding Revolving Credit Loans in any Designated Foreign Currency on the date on which the Parent Borrower has given the Administrative Agent a notice of borrowing with respect to any Revolving Credit Loan for purposes of determining compliance with this subsection). During the Revolving Credit Commitment Period each of the Borrower Borrowers may use the Revolving Credit Commitments by borrowing, prepaying the Revolving Credit Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. . (d) The Revolving Credit Loans may be made in Dollars or any Designated Foreign Currency and may from time to time be Eurodollar (i) Eurocurrency Loans, (ii) in the case of Revolving Credit Loans in Dollars, ABR Loans or Base Rate Loans(iii) a combination thereof, as determined by the Parent Borrower and notified to the Administrative Agent in accordance with Sections 2.5 subsections 2.3 and 2.84.2, provided that no Revolving Credit Loan shall be made as a Eurodollar Eurocurrency Loan after the day that is one month prior to the Revolving Credit Termination Date.

Appears in 1 contract

Samples: Credit Agreement (Imagex Com Inc)

Amount and Terms of Commitments. 2.1 Term Loan Commitments; Revolving Credit commitmentsCommitments. (a) Subject to the terms and conditions hereof, each Term Loan Lender severally agrees to make a term loan (a "Term Loan") to the Borrower on the Closing Date in an amount not to exceed the amount of the Term Loan Commitment of such Lender. The Term Loans may from time to time be Eurodollar Loans or Base Rate Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 2.2 and 2.8. (b) Subject to the terms and conditions hereofthis Agreement, each Revolving Credit Lender severally agrees to make revolving credit one or more loans (each, a "Revolving Credit LoansLoan") to the Borrower from time to time during the Revolving Credit Commitment Period in an aggregate principal amount at any one time outstanding which which, when added to such Lender's Revolving Credit Percentage of the sum of the then outstanding LC Obligations, does not exceed the amount of such Lender's Revolving Credit CommitmentCommitment then in effect. On the Closing Date, the Revolving Credit Commitments shall be fully utilized by converting Revolving Credit Loans and 364-Day Loans (as such terms are defined in the Existing Credit Agreement) and the Existing Letter of Credit into Revolving Credit Loans and Letters of Credit under this Agreement. Revolving Credit Loans and LC Obligations under this Agreement shall be held by the Revolving Credit Lenders in accordance with their Revolving Credit Percentages. During the Revolving Credit Commitment Period Period, the Borrower may use the Revolving Credit Commitments by borrowing, prepaying the Revolving Credit Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. . (b) The Revolving Credit Loans shall be made in Dollars and may from time to time be (i) Eurodollar Loans, (ii) Base Rate Loans or Base Rate Loans(iii) a combination thereof, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 2.5 2.2 and 2.83.5, provided that no Revolving Credit Loan shall be made as a Eurodollar Loan after the day that is one month prior to the Revolving Credit Termination Date.

Appears in 1 contract

Samples: Credit Agreement (Promedco Management Co)

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