Common use of Amount and Terms of Commitments Clause in Contracts

Amount and Terms of Commitments. Revolving Commitments. Subject to the terms and conditions hereof, each Revolving Lender severally agrees to make revolving credit loans (each, a “Revolving Credit Loan”) in U.S. Dollars to the Borrower from time to time during the Revolving Credit Commitment Period 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 Aggregate Revolving Credit Commitments. 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 (iii) a combination thereof, as determined by the Borrower and notified to the Administrative Agent in accordance with subsections 2.2 and 4.2, 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)

AutoNDA by SimpleDocs

Amount and Terms of Commitments. 2.1 Revolving Credit Commitments. (a) Subject to the terms and conditions hereof, each the Revolving Lender Credit Lenders severally agrees agree to make revolving credit loans (each, a “"Revolving Credit Loan”Loans") in U.S. Dollars to the Borrower from time to time during the Revolving Credit Commitment Period so long as after giving effect thereto in an aggregate principal amount at any one time outstanding for each Revolving Credit Lender which, when added to such Lender's Revolving Credit Percentage of the sum of (i) the Available Revolving Credit Commitment of each Lender with a Revolving Credit Commitment is greater than or equal to zero BoA L/C Obligations then outstanding and (ii) the Aggregate Revolving Credit Outstanding aggregate principal amount of all Lenders the Swing Line Loans then outstanding, does not exceed the Aggregate amount of such Lender's Revolving Credit CommitmentsCommitment. 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 (iii) a combination thereofBase Rate Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with subsections Sections 2.2 and 4.22.11, 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 Termination Loan shall be made as a Eurodollar Loan after the date that is one month prior to the Final Maturity Date.

Appears in 1 contract

Samples: Credit Agreement (Brookdale Senior Living Inc.)

Amount and Terms of Commitments. 2.1 Revolving Credit Commitments. (a) Subject to the terms and conditions hereof, each Revolving Lender the Lenders severally agrees agree to make revolving credit loans (each, a “"Revolving Credit Loan”Loans") in U.S. Dollars to the Borrower from time to time during the Revolving Credit Commitment Period so long as in an aggregate principal amount at any one time outstanding which does not exceed for all Lenders in the aggregate the Total Revolving Credit Commitments; provided, that after giving effect thereto to the making of each Revolving Credit Loan and the immediate application of the proceeds thereof, (i) the Available Revolving Credit Commitment Total Outstanding Extensions of each Lender with a Revolving Credit Commitment is greater than or equal Credit, when added to zero the Total Borrowing Base Extensions of Credit, shall not exceed the Total Borrowing Base Commitments and (ii) the Aggregate Revolving Outstanding Extensions of Credit Outstanding of all Lenders does any Lender shall not exceed the Aggregate Revolving Credit CommitmentsCommitment of such Lender. 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. The Revolving Credit Loans may from time to time be (i) Eurodollar Loans, (ii) Prime Loans or (iii) a combination thereofBase Rate Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with subsections Sections 2.2 and 4.22.9; provided, 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 (Anc Rental Corp)

Amount and Terms of Commitments. 2.1 Revolving Commitments. Subject to the terms and conditions hereof, each Revolving Lender severally agrees to make revolving credit loans in Dollars (each, a “Revolving Credit LoanLoans”) in U.S. Dollars to the theany Borrower from time to time during the Revolving Credit Commitment Period so long as after giving effect thereto (i) in an aggregate principal amount at any one time outstanding which, when added to such Lender’s Revolving Percentage of 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 L/C Obligations then outstanding, does not exceed the Aggregate amount of such Lender’s Revolving Credit CommitmentsCommitment; provided, that no Lender shall make Revolving Loans to theany Borrower during the Suspension Period. During the Revolving Credit Commitment Period the Borrower BorrowerBorrowers 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 (iii) a combination thereofABR Loans, as determined by the applicable Borrower and notified to the Administrative Agent in accordance with subsections Sections 2.2 and 4.2, provided that no Revolving Credit Loan shall be made as a Eurodollar Loan after the day that is one month prior 2.7. Notwithstanding anything to the contrary in this Agreement, in no event shall the Total Revolving Extensions of Credit Termination Dateexceed the Maximum Permitted Outstanding Amount.

Appears in 1 contract

Samples: Credit Agreement (Colony NorthStar, Inc.)

AutoNDA by SimpleDocs

Amount and Terms of Commitments. Revolving Commitments. Subject to the terms and conditions hereof, each Revolving Lender severally agrees to make revolving credit loans (each, a “"Revolving Credit Loan”Loans") in U.S. Dollars to the Borrower from time to time during the Revolving Credit Commitment Period so long as after giving effect thereto in an aggregate principal amount at any one time outstanding which, when added to such Lender's Revolving Percentage of the sum of (i) the Available Revolving Credit Commitment of each Lender with a Revolving Credit Commitment is greater than or equal to zero L/C Obligations then outstanding and (ii) the Aggregate Revolving Credit Outstanding aggregate principal amount of all Lenders the Swingline Loans then outstanding, does not exceed the Aggregate amount of such Lender's Revolving Credit CommitmentsCommitment. 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. The Revolving Credit Loans may from time to time be (i) Eurodollar Loans, (ii) Prime Loans or (iii) a combination thereofABR Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with subsections Sections 2.2 and 4.22.10. Notwithstanding the foregoing, provided that no Revolving Credit Loan Lender shall be made as obligated to make a Eurodollar Revolving Loan after hereunder if the day that is aggregate principal amount at any one month prior to time outstanding of such Lender's Revolving Percentage of the Total Revolving Extensions of Credit exceeds such Lender's Revolving Commitment. The Borrower shall repay all outstanding Revolving Loans on the Revolving Credit Termination Date.

Appears in 1 contract

Samples: Year Credit Agreement (Agl Resources Inc)

Amount and Terms of Commitments. Revolving Commitments. Subject to the terms and conditions hereof, each Revolving Lender severally agrees to make revolving credit loans (each, a “"Revolving Credit Loan”Loans") in U.S. Dollars to the Borrower from time to time during the Revolving Credit Commitment Period so long as after giving effect thereto in an aggregate principal amount at any one time outstanding which, when added to such Lender's Revolving Percentage of the sum of (i) the Available Revolving Credit Commitment of each Lender with a Revolving Credit Commitment is greater than or equal to zero L/C Obligations then outstanding and (ii) the Aggregate Revolving Credit Outstanding aggregate principal amount of all Lenders the Swingline Loans then outstanding, does not exceed the Aggregate amount of such Lender's Revolving Credit CommitmentsCommitment. 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 (iii) a combination thereofABR Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with subsections Sections 2.2 and 4.22.14. Notwithstanding the foregoing, provided that no Revolving Credit Loan Lender shall be made as obligated to make a Eurodollar Revolving Loan after hereunder if the day that is aggregate principal amount at any one month prior time outstanding of such Lender's Revolving Percentage of the Total Revolving Extensions of Credit exceeds such Lender's Revolving Commitment. The Borrower shall repay all outstanding Revolving Loans on the Revolving Termination Date, except to the extent such Revolving Credit Termination DateLoans are converted to Term Loans in accordance with Section 2.26.

Appears in 1 contract

Samples: Credit Agreement (Agl Resources Inc)

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