Common use of Amount and Terms of Revolving Credit Commitments Clause in Contracts

Amount and Terms of Revolving Credit Commitments. 2.1 Revolving Credit Commitments. (a) Subject to the terms and conditions hereof, each Bank agrees to continue to extend credit to the Company from time to time on any Borrowing Date during the Revolving Credit Commitment Period (i) by making loans in Dollars (individually, a "Revolving Credit Loan", and collectively the "Revolving Credit Loans") to the Company from time to time and (ii) by purchasing an L/C Participating Interest in each Letter of Credit issued by Chase. The aggregate amount of the undrawn Letters of Credit and L/C Obligations at any time shall not exceed in the aggregate $100,000,000. Notwithstanding the above, in no event shall (i) any Revolving Credit Loan be made, or Letter of Credit be issued if, after giving effect to such making or issuance and the use of proceeds thereof as irrevocably directed by the Company, the sum of the Aggregate Extensions of Revolving Credit would exceed the aggregate Revolving Credit Commitments or (ii) any Revolving Credit Loan be made, or Letter of Credit be issued, if the amount of such Loan to be made by any Bank or L/C Participating Interest to be acquired by any Bank in connection with such issuance would exceed the Available Revolving Credit Commitment of such Bank. During the Revolving Credit Commitment Period the Company 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, and/or by having Chase issue Letters of Credit, having such Letter of Credit expire undrawn upon or if drawn upon, reimbursing Chase for such drawing, and having Chase issue new Letters of Credit.

Appears in 1 contract

Samples: Credit Agreement (Saks Holdings Inc)

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Amount and Terms of Revolving Credit Commitments. 2.1 Revolving Credit Commitments. (a) Subject to the terms and conditions hereof, each Bank agrees to continue to extend credit to the Company from time to time on any Borrowing Date during the Revolving Credit Commitment Period (ii)by purchasing an L/C Participating Interest in each Letter of Credit issued by an Issuing Bank and (ii) by making loans in Dollars (individually, a "Revolving Credit Loan", and collectively the "Revolving Credit Loans") to the Company from time to time and (ii) by purchasing an L/C Participating Interest in each Letter of Credit issued by Chase. The aggregate amount of the undrawn Letters of Credit and L/C Obligations at any time shall not exceed in the aggregate $100,000,000time. Notwithstanding the aboveforegoing, in no event shall (i) any Revolving Credit Loan or Swing Line Loan be made, or any Letter of Credit be issued issued, if, after giving effect to such making or issuance and the use of proceeds thereof as irrevocably directed by the Company, the sum of the Aggregate Extensions of Revolving Credit would exceed the aggregate Revolving Credit Commitments or (ii) any Revolving Credit Loan be made, or Letter of Credit be issued, if the amount of such Loan to be made by any Bank or L/C Participating Interest to be acquired by any Bank in connection with such issuance would exceed the Available Revolving Credit Commitment of such BankCommitments. During the Revolving Credit Commitment Period Period, the Company may use the Revolving Credit Commitments by borrowing, prepaying the Revolving Credit Loans or Swing Line Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof, and/or by having Chase the Issuing Banks issue Letters of Credit, having such Letter Letters of Credit expire undrawn upon or if drawn upon, reimbursing Chase the relevant Issuing Bank for such drawing, and having Chase the Issuing Banks issue new Letters of Credit.

Appears in 1 contract

Samples: Credit Agreement (Commscope Inc)

Amount and Terms of Revolving Credit Commitments. 2.1 3.1 Revolving Credit Commitments. (a) Subject to the terms and conditions hereof, each Bank Lender severally agrees to continue the extent of its Revolving Credit Commitment to extend credit to the Company Borrower from time to time on any Borrowing Date during the Revolving Credit Commitment Period (i) by making loans in Dollars (individually, a "Revolving Credit Loan", and collectively the "Revolving Credit Loans") to the Company from time to time and (ii) by purchasing an L/C Participating Interest in each Letter of Credit issued by Chase. The aggregate amount of the undrawn Letters of Issuing Lender and (ii) by making loans in Dollars (individually, a "Revolving Credit Loan," and L/C Obligations at any collectively, the "Revolving Credit Loans") to the Borrower from time shall not exceed in the aggregate $100,000,000to time. Notwithstanding the above, in no event shall (i) any Revolving Credit Loan be made, or Letter of Credit be issued if, after giving effect to such making or issuance and the use of proceeds thereof as irrevocably directed by the Company, the sum of the Aggregate Extensions of Revolving Credit would exceed the aggregate Revolving Credit Commitments or (ii) any Revolving Credit Loan Loans be made, or Letter of Credit be issued, if the aggregate amount of such Loan to be made by any Bank or L/C Participating Interest to be acquired by any Bank in connection with such issuance would exceed the Available Revolving Credit Commitment of such Bank. During the Revolving Credit Commitment Period the Company may use the Revolving Credit Commitments by borrowing, prepaying the Revolving Credit Loans in whole to be made or in part, and reborrowing, all in accordance with the terms and conditions hereof, and/or by having Chase issue Letters of Credit, having such Letter of Credit expire to be issued would, after giving effect to the use of proceeds, if any, thereof, exceed the aggregate Available Revolving Credit Commitments nor shall any Letter of Credit be issued if after giving effect thereto the sum of the undrawn upon or if drawn upon, reimbursing Chase for such drawing, and having Chase issue new amount of all outstanding Letters of CreditCredit and the amount of all L/C Obligations would exceed $20,000,000. All Revolving Commitment Credit Loans outstanding under the Existing Credit Agreement shall remain outstanding hereunder on the Restatement Effective Date on the terms set forth herein.

Appears in 1 contract

Samples: Credit Agreement (Jostens Inc)

Amount and Terms of Revolving Credit Commitments. 2.1 Revolving Credit Commitments. (a) Subject to the terms and conditions hereof, each Bank severally agrees to continue to extend credit to the Company from time to time on any Borrowing Date during the Revolving Credit Commitment Period (i) by purchasing an L/C Participating Interest in each Letter of Credit issued by an Issuing Bank and (ii) by making loans in Dollars (individually, a "Revolving Credit Loan", and collectively the "Revolving Credit Loans") to the Company from time to time and (ii) by purchasing an L/C Participating Interest in each Letter of Credit issued by Chase. The aggregate amount of the undrawn Letters of Credit and L/C Obligations at any time shall not exceed in the aggregate $100,000,000time. Notwithstanding the aboveforegoing, in no event shall (i) any Revolving Credit Loan or Swing Line Loan be made, or any Letter of Credit be issued issued, if, after giving effect to such making or issuance and the use of proceeds thereof as irrevocably directed by the Company, the sum of the Aggregate Extensions of Revolving Credit would exceed the aggregate Revolving Credit Commitments or (ii) any Revolving Credit Loan be made, or Letter of Credit be issued, if the amount of such Loan to be made by any Bank or L/C Participating Interest to be acquired by any Bank in connection with such issuance would exceed the Available Revolving Credit Commitment of such BankCommitments. During the Revolving Credit Commitment Period Period, the Company may use the Revolving Credit Commitments by borrowing, prepaying the Revolving Credit Loans or Swing Line Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof, and/or by having Chase the Issuing Banks issue Letters of Credit, having such Letter Letters of Credit expire undrawn upon or if drawn upon, reimbursing Chase the relevant Issuing Bank for such drawing, and having Chase the Issuing Banks issue new Letters of Credit.

Appears in 1 contract

Samples: Credit Agreement (Nextlevel Systems Inc)

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Amount and Terms of Revolving Credit Commitments. 2.1 Revolving Credit Commitments. (a) Subject to the terms and conditions hereof, each Bank agrees to continue to extend credit to the Company from time to time on any Borrowing Date during the Revolving Credit Commitment Period (i) by making loans in Dollars (individually, a "Revolving Credit Loan", and collectively the "Revolving Credit Loans") to the Company from time to time and (ii) by purchasing an L/C Participating Interest in each Letter of Credit issued by Chase. The aggregate amount of the undrawn Letters of Issuing Lender and (ii) by making loans in Dollars (individually, such a Loan is a "Revolving Credit Loan", and L/C Obligations at any collectively such Loans are the "Revolving Credit Loans") to the Company from time shall not exceed in the aggregate $100,000,000to time. Notwithstanding the above, (x) in no event shall (i) any Revolving Credit Loan be made, or Letter of Credit be issued if, if after giving effect to such making or issuance and the use of proceeds thereof as irrevocably directed by the Company, thereto the sum of the Aggregate Extensions undrawn amount of Revolving all outstanding Letters of Credit and the amount of all L/C Obligations would exceed the aggregate Revolving Credit Commitments or $15,000,000 and (iiy) in no event shall any Revolving Credit Loan Loans be made, or Letter Letters of Credit be issued, if the aggregate amount of such Loan the Revolving Credit Loans to be made by any Bank or L/C Participating Interest Letters of Credit to be acquired by any Bank in connection with such issuance would issued would, after giving effect to the use of proceeds, if any, thereof, exceed the aggregate Available Revolving Credit Commitment of such BankCommitments. During the Revolving Credit Commitment Period Period, the Company 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, and/or by having Chase the Issuing Lender issue Letters of Credit, having such Letter Letters of Credit expire undrawn upon or if drawn upon, reimbursing Chase the Issuing Lender for such drawing, and having Chase the Issuing Lender issue new Letters of Credit.

Appears in 1 contract

Samples: Credit Agreement (CSK Auto Corp)

Amount and Terms of Revolving Credit Commitments. 2.1 3.1 Revolving Credit Commitments. (a) Subject to the terms and conditions hereof, each Bank Lender severally agrees to continue the extent of its Revolving Credit Commitment to extend credit to the Company from time to time on any Borrowing Date during the Revolving Credit Commitment Period (i) by making loans in Dollars (individually, a "Revolving Credit Loan", and collectively the "Revolving Credit Loans") to the Company from time to time and (ii) by purchasing an L/C Participating Interest in each Letter of Credit issued by Chase. The aggregate amount of the undrawn Letters of Issuing Lender and (ii) by making loans in Dollars (individually, such a Loan is a "Revolving Credit Loan", and L/C Obligations at any collectively such Loans are the "Revolving Credit Loans") to the Company from time shall not exceed in the aggregate $100,000,000to time. Notwithstanding the above, in no event shall (i) any Revolving Credit Loan be made, or Letter of Credit be issued if, after giving effect to such making or issuance and the use of proceeds thereof as irrevocably directed by the Company, the sum of the Aggregate Extensions of Revolving Credit would exceed the aggregate Revolving Credit Commitments or (ii) any Revolving Credit Loan Loans be made, or Letter of Credit be issued, if the aggregate amount of such Loan the Revolving Credit Loans to be made by or Letter of Credit to be issued would, after giving effect to the use of proceeds, if any, thereof, exceed the aggregate Available Revolving Credit Commitments nor shall any Bank or Letter of Credit be issued if after giving effect thereto the sum of the undrawn amount of all outstanding Letters of Credit and the amount of all L/C Participating Interest to be acquired by any Bank in connection with such issuance Obligations would exceed the Available Revolving Credit Commitment of such Bank$25,000,000. During the Revolving Credit Commitment Period Period, the Company 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, and/or by having Chase the Issuing Lender issue Letters of Credit, having such Letter Letters of Credit expire undrawn upon or if drawn upon, reimbursing Chase the Issuing Lender for such drawing, and having Chase the Issuing Lender issue new Letters of Credit.

Appears in 1 contract

Samples: Credit Agreement (Falcon Building Products Inc)

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