Common use of Amounts and Terms of Commitment Clause in Contracts

Amounts and Terms of Commitment. Each Bank severally agrees, on the terms and conditions set forth herein, to make loans to the Company (each such loan, a "REVOLVING LOAN") from time to time on any Business Day during the period from the Closing Date to the Revolving Termination Date, in an aggregate amount not to exceed at any time outstanding the amount set forth on SCHEDULE 2.01 (such amount, as the same may be reduced under Section 2.05 or as a result of one or more assignments under Section 10.08, the Bank's "COMMITMENT"); PROVIDED, HOWEVER, that, after giving effect to any Borrowing of Revolving Loans (exclusive of Revolving Loans which are repaid with the proceeds of, and simultaneously with the incurrence of, the respective incurrence of Revolving Loans), the Effective Amount of all outstanding Revolving Loans and the Effective Amount of all L/C Obligations, shall not at any time exceed the combined Commitments; AND PROVIDED FURTHER, that the Effective Amount of the Revolving Loans of any Bank plus the participation of such Bank in the Effective Amount of all L/C Obligations shall not at any time exceed such Bank's Commitment. Within the limits of each Bank's Commitment, and subject to the other terms and conditions hereof, the Company may borrow under this Section 2.01, prepay under Section 2.06 and reborrow under this Section 2.01.

Appears in 1 contract

Samples: Credit Agreement (Waterlink Inc)

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Amounts and Terms of Commitment. Each Bank From time to time following the Closing Date and prior to June 30, 1999 (the "Cutoff Date"), each Lender severally agrees, on the terms and conditions hereinafter set forth hereinforth, to make term loans to the Company Borrowers (each such loan, a "REVOLVING LOANLoan") from time to time on any Business Day during the period from the Closing Date to the Revolving Termination Date, in an aggregate principal amount not to exceed at any time outstanding exceeding the amount set forth opposite such Lender's name on SCHEDULE Schedule 2.01 under the heading "Commitment" (such amount, amount as the same may be reduced under pursuant to Section 2.05 or Section 2.07 or as a result of one or more assignments under pursuant to Section 10.08, the Banksuch Lender's "COMMITMENTCommitment"); PROVIDEDprovided, HOWEVERhowever, that, after giving effect to any Borrowing of Revolving Loans, (i) each Lender's Loans (exclusive of Revolving Loans which are repaid with the proceeds ofshall not exceed its Commitment, and simultaneously with (ii) the incurrence of, the respective incurrence of Revolving Loans), the Effective Amount aggregate principal amount of all outstanding Revolving Loans and the Effective Amount of all L/C Obligations, shall not at any time exceed the combined Commitments; AND PROVIDED FURTHER, that the Effective Amount of the Revolving Loans of any Bank plus the participation of such Bank in the Effective Amount of all L/C Obligations shall not at any time exceed such Bank's Aggregate Commitment. Within Following the limits of Cutoff Date, each Bank's CommitmentLender shall, and subject to on the other terms and conditions hereofhereinafter set forth, make term Loans to the Company Borrowers in the amount necessary to refinance outstanding Loans on the last day of the related Interest Periods for such Loans, but no such Loan shall result in an increase in the aggregate principal outstanding amount of the Loans. The Commitments are in the nature of multiple draw term loans, and no Loan, once repaid, may borrow under this Section 2.01, prepay under Section 2.06 and reborrow under this Section 2.01be reborrowed.

Appears in 1 contract

Samples: Loan Agreement (Harrahs Entertainment Inc)

Amounts and Terms of Commitment. Each Bank severally agrees, on the terms ------------------------------- and conditions set forth herein, to make loans to the Company Borrower (each such loan, a "REVOLVING LOANRevolving Loan") from time to time on any Business Day during the period from -------------- the Closing Date to the Revolving Termination Date, in an aggregate amount not to exceed at any time outstanding the amount set forth opposite the name of such Bank on SCHEDULE 2.01 Schedule 2.1 under the heading "Commitment" (such amount, inclusive of ------------ such Bank's L/C Commitment, as the same may be reduced under Section 2.05 2.5 or Section 2.7 or reduced or increased as a result of one or more assignments under Section 10.0811.8, the Bank's "COMMITMENTCommitment"); PROVIDEDprovided, HOWEVERhowever, that, after giving -------- ------- effect to any Borrowing of Revolving Loans Loans, (exclusive of Revolving Loans which are repaid with the proceeds of, and simultaneously with the incurrence of, the respective incurrence of Revolving Loans), i) the Effective Amount of all outstanding Revolving Loans and the Effective Amount of all L/C Obligations, Obligations shall not at any time exceed the combined CommitmentsTotal Commitment Amount; AND PROVIDED FURTHER, that and (ii) the Effective Amount of the Revolving Loans of any Bank plus the participation of such Bank in the Effective Amount of all L/C Obligations shall not at any time exceed such Bank's Commitment, as such Bank's Commitment may be reduced hereunder. Within the limits of each Bank's Commitment, and subject to the other terms and conditions hereof, the Company Borrower may borrow under this Section 2.012.1, prepay under Section 2.06 2.6 and reborrow under this Section 2.012.1.

Appears in 1 contract

Samples: Credit Agreement (Storage Technology Corp)

Amounts and Terms of Commitment. Each Bank severally agrees, on the terms and conditions set forth herein, to make loans to the Company (each such loan, a "REVOLVING LOAN") from time to time on any Business Day during the period from the Closing Date to the Revolving Termination Date, in an aggregate amount not to exceed at any time outstanding the amount set forth on SCHEDULE 2.01 (such amount, as the same may be reduced under Section 2.05 or as a result of one or more assignments under Section 10.08, the Bank's "COMMITMENT"); PROVIDED, HOWEVER, that, after giving effect to any Borrowing of Revolving Loans (exclusive of Revolving Loans which are repaid with the proceeds of, and simultaneously with the incurrence of, the respective incurrence of Revolving Loans), the Effective Amount of all outstanding Revolving Loans Loans, and the Effective Amount of all L/C Obligations, shall not at any time exceed the combined Commitments; AND PROVIDED FURTHER, that the Effective Amount of the Revolving Loans of any Bank plus the participation of such Bank in the Effective Amount of all L/C Obligations shall not at any time exceed such Bank's Commitment. Within the limits of each Bank's Commitment, and subject to the other terms and conditions hereof, the Company may borrow under this Section 2.01, prepay under Section 2.06 and reborrow under this Section 2.01.

Appears in 1 contract

Samples: Credit Agreement (International Alliance Services Inc)

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Amounts and Terms of Commitment. Each Bank severally agrees, on the terms and conditions set forth herein, to make loans to the Company Borrower (each such loan, a "REVOLVING LOANRevolving Loan") from time to time on any Business Day during the period from the Closing Date to the Revolving Termination Date, in an aggregate amount not to exceed at any time outstanding the amount set forth on SCHEDULE 2.01 Schedule 2.1 under the heading "Commitment" (such amount, inclusive of such Bank's L/C Commitment and, in the case of BofA, its Swingline Commitment, as the same may be reduced under Section 2.05 2.5 and Section 2.7 or reduced or increased as a result of one or more assignments under Section 10.0811.8, the Bank's "COMMITMENTCommitment"); PROVIDEDprovided, HOWEVERhowever, that, after giving effect to any Borrowing of Revolving Loans Loans, (exclusive of Revolving Loans which are repaid with the proceeds of, and simultaneously with the incurrence of, the respective incurrence of Revolving Loans), i) the Effective Amount of all outstanding Revolving Loans, the Effective Amount of all Swingline Loans and the Effective Amount of all L/C Obligations, shall not at any time exceed the combined CommitmentsTotal Commitment Amount; AND PROVIDED FURTHER, that and (ii) the Effective Amount of the Revolving Loans of any Bank and the Effective Amount of all Swingline Loans of any Bank plus the participation of such Bank in the Effective Amount of all L/C Obligations shall not at any time exceed such Bank's Commitment (except for BofA, but solely with respect to its Swingline Commitment), as such Bank's Commitment may be reduced hereunder. Within the limits of each Bank's Commitment, and subject to the other terms and conditions hereof, the Company Borrower may borrow under this Section 2.012.1, prepay under Section 2.06 2.6 and reborrow under this Section 2.012.1.

Appears in 1 contract

Samples: Credit Agreement (Storage Technology Corp)

Amounts and Terms of Commitment. Each Bank severally agrees, on the terms and conditions set forth herein, to make loans to the Company Borrower (each such loan, a "REVOLVING LOANRevolving Loan") from time to time on any Business Day during the period from the Closing Date to the Revolving Termination Date, in an aggregate amount not to exceed at any time outstanding the amount set forth on SCHEDULE 2.01 Schedule 2.1 under the heading "Commitment" (such amount, inclusive of such Bank's L/C Commitment and, in the case of BofA, its Swingline Commitment, as the same may be reduced under Section 2.05 2.5 and Section 2.7 or reduced or increased as a result of one or more assignments under Section 10.0811.8, the Bank's "COMMITMENTCommitment"); PROVIDEDprovided, HOWEVERhowever, that, after giving effect to any Borrowing of Revolving Loans Loans, (exclusive of Revolving Loans which are repaid with the proceeds of, and simultaneously with the incurrence of, the respective incurrence of Revolving Loans), i) the Effective Amount of all outstanding Revolving Loans, the Effective Amount of all Swingline Loans and the Effective Amount of all L/C Obligations, shall not at any time exceed the combined Commitments; AND PROVIDED FURTHER, that and (ii) the Effective Amount of the Revolving Loans of any Bank and the Effective Amount of all Swingline Loans of any Bank plus the participation of such Bank in the Effective Amount of all L/C Obligations shall not at any time exceed such Bank's Commitment (except for BofA, but solely with respect to its Swingline Commitment). Within the limits of each Bank's Commitment, and subject to the other terms and conditions hereof, the Company Borrower may borrow under this Section 2.012.1, prepay under Section 2.06 2.6 and reborrow under this Section 2.012.1.

Appears in 1 contract

Samples: Credit Agreement (Storage Technology Corp)

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