AMOUNTS AND TERMS OF THE ADVANCES AND THE LETTERS OF CREDIT. SECTION 2.01. The Committed Advances and the Letters of Credit. (a) The Committed Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make advances (each a "Committed Advance") to any Borrower from time to time on any Business Day during the period from the date hereof until the Termination Date in an amount for each such Committed Advance not to exceed such Lender's Unused WC Commitment at such time. Each Committed Borrowing shall be in an aggregate amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof and shall consist of Committed Advances made simultaneously by the Lenders ratably according to their WC Commitments. Within the limits of each Lender's Unused WC Commitment in effect from time to time, the Borrower may borrow under this Section 2.01, prepay pursuant to Section 2.07 and reborrow under this Section 2.01.
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Samples: Credit Agreement (Ace LTD)
AMOUNTS AND TERMS OF THE ADVANCES AND THE LETTERS OF CREDIT. SECTION 2.01. The Committed Revolving Credit Advances and the Letters of Credit.
(a) The Committed Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make advances (each a "Committed Advance") Revolving Credit Advances to any the Borrower from time to time on any Business Day during the period from the date hereof Effective Date until the Termination Date in an amount for each such Committed Revolving Credit Advance not to exceed such Lender's Unused WC Commitment at such timeRevolving Credit Commitment. Each Committed Revolving Credit Borrowing shall be in an aggregate amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof and shall consist of Committed Revolving Credit Advances of the same Type made simultaneously on the same day by the Lenders ratably according to their WC respective Revolving Credit Commitments. Within the limits of each Lender's Unused WC Commitment in effect from time to timeRevolving Credit Commitment, the Borrower may borrow under this Section 2.012.01(a), prepay pursuant to Section 2.07 2.11 and reborrow under this Section 2.012.01(a).
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AMOUNTS AND TERMS OF THE ADVANCES AND THE LETTERS OF CREDIT. SECTION 2.01. The Committed Advances and the Letters of Credit.
(a) The Committed Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make advances (each a "Committed Advance") to any Borrower from time to time on any Business Day during the period from the date hereof until the Termination Date in an amount for each such Committed Advance not to exceed such Lender's Unused WC Commitment at such time. Each Committed Borrowing shall be in an aggregate amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof and shall consist of Committed Advances made simultaneously by the Lenders ratably according to their WC Commitments. Within the limits of each Lender's Unused WC Commitment in effect from time to time, the each Borrower may borrow under this Section 2.01, prepay pursuant to Section 2.07 and reborrow under this Section 2.01.
Appears in 1 contract
Samples: Credit Agreement (Ace LTD)
AMOUNTS AND TERMS OF THE ADVANCES AND THE LETTERS OF CREDIT. SECTION 2.01. The Committed Revolving Credit Advances and the Letters of Credit.
(a) The Committed Revolving Credit Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make advances (each a "Committed Advance") Revolving Credit Advances to any the Borrower from time to time on any Business Day during the period from the date hereof Restatement Effective Date until the Termination Date in an aggregate amount for each such Committed Advance not to exceed at any time such Lender's Unused WC Commitment at such time. Each Committed Revolving Credit Borrowing shall be in an aggregate amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof and shall consist of Committed Revolving Credit Advances of the same Type made simultaneously on the same day by the Lenders ratably according to their WC respective Revolving Commitments. Within the limits of each Lender's Unused WC Commitment in effect from time to timethis Section 2.01(a), the Borrower may borrow under this Section 2.012.01(a), prepay pursuant to Section 2.07 2.11 and reborrow under this Section 2.012.01(a).
Appears in 1 contract
Samples: Credit Agreement (Genuity Inc)