Amounts. Subject to the satisfaction of the conditions precedent set forth in Section Six and so long as no Default or Event of Default then exists, each Lender severally, but not jointly, agrees, upon Borrowers’ request from time to time on any Business Day during the period from the date hereof to the Maturity Date, to make revolving loans (the “Revolving Loans”) to Borrowers, in amounts not to exceed (except for Bank of America with respect to Non-Ratable Loans and except for the Agent with respect to Agent Advances) such Lender’s Pro Rata Share of the Borrowers’ Availability. The Lenders, however, in their unanimous discretion, may elect to make Revolving Loans in excess of the Availability on one or more occasions, but if they do so, neither the Agent nor the Lenders shall be deemed thereby to have changed the limits of the Total Credit Facility or the Availability or to be obligated to exceed such limits on any other occasion. If the sum of outstanding Revolving Loans and the aggregate amount of Pending Revolving Loans, together with all outstanding indebtedness owing by Borrowers under all outstanding Letters of Credit, exceeds the Availability, Lenders may refuse to make or otherwise restrict the making of Revolving Loans as Lenders determine until such excess has been eliminated, subject to the Agent’s authority, in its sole discretion, to make Agent Advances pursuant to the terms of subparagraph 2.2(i).
Appears in 3 contracts
Samples: Loan and Security Agreement (Regional Management Corp.), Loan and Security Agreement (Regional Management Corp.), Loan and Security Agreement (Regional Management Corp.)
Amounts. Subject to the satisfaction of the conditions precedent set forth in Section Six and so long as no Default or Event of Default then exists, each Lender severally, but not jointly, agrees, upon BorrowersXxxxxxxxx’ request from time to time on any Business Day during the period from the date hereof to the Maturity Date, to make revolving loans (the “Revolving Loans”) to Borrowers, in amounts not to exceed (except for Bank of America Xxxxx Fargo with respect to Non-Ratable Loans and except for the Agent with respect to Agent Advances) such LenderXxxxxx’s Pro Rata Share of the Borrowers’ Availability. The Lenders, however, in their unanimous discretion, may elect to make Revolving Loans in excess of the Availability on one or more occasions, but if they do so, neither the Agent nor the Lenders shall be deemed thereby to have changed the limits of the Total Credit Facility or the Availability or to be obligated to exceed such limits on any other occasion, subject to the Agent’s authority, in its discretion, to make Agent Advances pursuant to the terms of Section 2.2(i). If the sum of outstanding Revolving Loans and the aggregate amount of Pending Revolving Loans, together with all outstanding indebtedness owing by Borrowers under all outstanding Letters Letter of CreditCredit Obligations, exceeds the Availability, Lenders Xxxxxxx may refuse to make or otherwise restrict the making of Revolving Loans as Lenders determine until such excess has been eliminated, subject to the Agent’s authority, in its sole discretion, to make Agent Advances pursuant to the terms of subparagraph Section 2.2(i).
Appears in 3 contracts
Samples: Loan and Security Agreement (Regional Management Corp.), Loan and Security Agreement (Regional Management Corp.), Loan and Security Agreement (Regional Management Corp.)
Amounts. Subject to the satisfaction of the conditions precedent set forth in Section Six and so long as no Default or Event of Default then exists, each Lender severally, but not jointly, agrees, upon BorrowersBxxxxxxxx’ request from time to time on any Business Day during the period from the date hereof to the Maturity Date, to make revolving loans (the “Revolving Loans”) to Borrowers, in amounts not to exceed (except for Bank of America Wxxxx Fargo with respect to Non-Ratable Loans and except for the Agent with respect to Agent Advances) such LenderLxxxxx’s Pro Rata Share of the Borrowers’ Availability. The Lenders, however, in their unanimous discretion, may elect to make Revolving Loans in excess of the Availability on one or more occasions, but if they do so, neither the Agent nor the Lenders shall be deemed thereby to have changed the limits of the Total Credit Facility or the Availability or to be obligated to exceed such limits on any other occasion, subject to the Agent’s authority, in its discretion, to make Agent Advances pursuant to the terms of Section 2.2(i). If the sum of outstanding Revolving Loans and the aggregate amount of Pending Revolving Loans, together with all outstanding indebtedness owing by Borrowers under all outstanding Letters Letter of CreditCredit Obligations, exceeds the Availability, Lenders Lxxxxxx may refuse to make or otherwise restrict the making of Revolving Loans as Lenders determine until such excess has been eliminated, subject to the Agent’s authority, in its sole discretion, to make Agent Advances pursuant to the terms of subparagraph Section 2.2(i).
Appears in 2 contracts
Samples: Loan and Security Agreement (Regional Management Corp.), Loan and Security Agreement (Regional Management Corp.)
Amounts. Subject to the satisfaction of the conditions precedent set forth in Section Six and so long as no Default or Event of Default then existsArticle 10, each Lender severally, but not jointly, agrees, upon Borrowers’ a Borrower’s request from time to time on any Business Day during the period from the date hereof Closing Date to the Maturity Termination Date, to make revolving loans (the “Revolving Loans”) to Borrowers, the Borrowers in amounts not to exceed (except for Bank of America the Swingline Lender with respect to Non-Ratable Swingline Loans and except for the Administrative Agent with respect to Agent Advances) such Lender’s Pro Rata Share of the Borrowers’ AvailabilityAvailability at such time. The Lenders, however, in their unanimous discretion, may elect to make Revolving Loans or issue or arrange to have issued Letters of Credit in excess of the Availability on one or more occasions, but if they do so, neither the Agent Agents nor the Lenders shall be deemed thereby to have changed the limits of the Total Credit Facility or the Availability Borrowing Base or to be obligated to exceed such limits on any other occasion. If the sum of outstanding Revolving Loans and Aggregate Revolver Outstandings exceed the aggregate amount of Pending Revolving LoansBorrowing Base, together with all outstanding indebtedness owing by Borrowers under all outstanding Letters of Credit, exceeds the Availability, Lenders may refuse to make or otherwise restrict the making of Revolving Loans and the issuance of Letters of Credit as the Lenders determine until such excess has been eliminated, subject to the Administrative Agent’s authority, in its sole discretion, to make Agent Advances pursuant to the terms of subparagraph Section 2.2(i).
Appears in 2 contracts
Samples: Loan and Security Agreement (Metals Usa Holdings Corp.), Loan and Security Agreement (FLAG INTERMEDIATE HOLDINGS Corp)
Amounts. Subject to the satisfaction of the conditions precedent set forth in Section Six and so long as no Default or Event of Default then exists, each Lender severally, but not jointly, agrees, upon Borrowers’ request from time to time on any Business Day during the period from the date hereof to the Maturity Date, to make revolving loans (the “Revolving Loans”) to Borrowers, in amounts not to exceed (except for Bank of America Xxxxx Fargo with respect to Non-Ratable Loans and except for the Agent with respect to Agent Advances) such Lender’s Pro Rata Share of the Borrowers’ Availability. The Lenders, however, in their unanimous discretion, may elect to make Revolving Loans in excess of the Availability on one or more occasions, but if they do so, neither the Agent nor the Lenders shall be deemed thereby to have changed the limits of the Total Credit Facility or the Availability or to be obligated to exceed such limits on any other occasion, subject to the Agent’s authority, in its discretion, to make Agent Advances pursuant to the terms of Section 2.2(i). If the sum of outstanding Revolving Loans and the aggregate amount of Pending Revolving Loans, together with all outstanding indebtedness owing by Borrowers under all outstanding Letters Letter of CreditCredit Obligations, exceeds the Availability, Lenders may refuse to make or otherwise restrict the making of Revolving Loans as Lenders determine until such excess has been eliminated, subject to the Agent’s authority, in its sole discretion, to make Agent Advances pursuant to the terms of subparagraph Section 2.2(i).
Appears in 2 contracts
Samples: Loan and Security Agreement (Regional Management Corp.), Loan and Security Agreement (Regional Management Corp.)
Amounts. Subject to the satisfaction of the conditions precedent set forth in Section Six and so long as no Default or Event of Default then existsArticle 10, each Lender severally, but not jointly, severally agrees, upon Borrowers’ the Borrower's request from time to time on any Business Day during the period from the date hereof Closing Date to the Maturity Termination Date, to make revolving loans (the “"Revolving Loans”") to Borrowersthe Borrower, in amounts not to exceed (except for Bank of America BABC with respect to Non-Ratable BABC Loans and except for the Agent with respect to or Agent Advances) such Lender’s 's Pro Rata Share of the Borrowers’ Borrower's Availability. The Lenders, however, in their unanimous discretion, may elect to make Revolving Loans or participate (as provided for in Section 2.4(f)) in the credit support or enhancement provided through the Agent to the issuers of Letters of Credit in excess of the Availability on one or more occasions, but if they do so, neither the Agent nor the Lenders shall be deemed thereby to have changed the limits of the Total Credit Facility Maximum Revolver Amount or the Availability or to be obligated to exceed such limits on any other occasion. If the sum of outstanding Revolving Loans and Loans, the aggregate amount of Pending Revolving Loans, together with all outstanding indebtedness owing by Borrowers under all the undrawn amount of outstanding Letters of Credit, Credit and any unpaid reimbursement obligations in respect of Letters of Credit exceeds the Availability, the Lenders may refuse to make or otherwise restrict the making of Revolving Loans as the Lenders determine until such excess has been eliminated, subject to the Agent’s 's authority, in its sole discretion, to make Agent Advances pursuant to the terms of subparagraph Section 2.2(i).
Appears in 1 contract
Samples: Loan and Security Agreement (United States Leather Inc /Wi/)
Amounts. Subject to the satisfaction of the conditions precedent set forth in Section Six and so long as no Default or Event of Default then existsArticle 10, each Lender severally, but not jointly, severally agrees, upon Borrowers’ the Borrower's request from time to time on any Business Day during the period from the date hereof Initial Funding Date to the Maturity Termination Date, to make revolving loans (the “"Revolving Loans”") to Borrowersthe Borrower, in amounts not to exceed (except for Bank of America BABC with respect to Non-Ratable BABC Loans and except for the Agent with respect to or Agent Advances) such Lender’s 's Pro Rata Share of the Borrowers’ lesser of (i) the Maximum Revolver Amount and (ii) the Availability. The LendersAll of the Lenders acting in concert, however, in their unanimous discretion, may elect to make Revolving Loans in excess of the Maximum Revolver Amount or the Availability on one or more occasions, but if they do so, neither the Agent nor the Lenders shall be deemed thereby to have changed the limits of the Total Credit Facility Maximum Revolver Amount or the Availability or to be obligated to exceed such limits on any other occasion. If the sum of outstanding Aggregate Revolver Outstandings exceeds the Availability (with Availability for this purpose calculated as if the Aggregate Revolver Outstandings were zero) or if the Revolving Loans and exceed the aggregate amount of Pending Revolving LoansMaximum Revolver Amount, together with all outstanding indebtedness owing by Borrowers under all outstanding Letters of Credit, exceeds the Availability, Lenders may refuse to make or otherwise restrict the making of Revolving Loans as the Lenders determine until such excess has been eliminated, subject to the Agent’s 's authority, in its sole discretion, to make Agent Advances pursuant to the terms of subparagraph Section 2.2(i).
Appears in 1 contract
Samples: Loan and Security Agreement (Consolidated Freightways Corp)
Amounts. Subject to the satisfaction of the conditions precedent set forth in Section Six SECTIONS 10.1 and so long as no Default or Event of Default then exists10.3, each Lender severally, but not jointly, agrees, upon Borrowers’ any Borrower's request from time to time on any Business Day during the period from the date hereof Closing Date to the Maturity Termination Date, to make revolving loans (the “"Revolving Loans”") to Borrowers, such Borrower in amounts not to exceed (except for the Bank of America with respect to Non-Ratable Loans and except for the Agent with respect to Agent Advances) such Lender’s 's Pro Rata Share of the Borrowers’ Availabilityportion of the Borrowing Base allocable to such Borrower (as shown on the most recent Borrowing Base Certificate delivered to the Agent); PROVIDED, HOWEVER, that the aggregate principal amount of all outstanding Revolving Loans made to the Borrowers shall not exceed the Borrowing Base, except to the extent permitted under SECTION 13.1. The Lenders, however, in their unanimous discretion, may elect to make Revolving Loans or issue or arrange to have issued Letters of Credit in excess of the Availability for a particular Borrower or Total Availability on one or more occasions, but if they do so, neither the Agent nor the Lenders shall be deemed thereby to have changed the limits of the Total Credit Facility or the Availability Borrowing Base or to be obligated to exceed such limits on any other occasion. If the sum of outstanding Aggregate Revolver Outstandings exceed, or after giving effect to the Pending Revolving Loans and would exceed, the aggregate amount of Pending Revolving LoansBorrowing Base, together with all outstanding indebtedness owing by Borrowers under all outstanding Letters of Credit, exceeds the Availability, Lenders may refuse to make or otherwise restrict the making of Revolving Loans as the Lenders determine until such excess has been eliminated, subject to the Agent’s 's authority, in its sole discretion, to make Agent Advances pursuant to the terms of subparagraph 2.2(iSECTION 2.2(I).
Appears in 1 contract
Amounts. Subject to all the satisfaction terms and conditions of this Agreement and the conditions precedent set forth Interim Bankruptcy Court Order and the Final Bankruptcy Court Order, and in Section Six and so long as no Default the absence of an Event or Event of Default then exists(either before or after giving effect to the relevant Revolving Loan), each Lender severally, but not jointly, agrees, upon Borrowers’ request from time to time on any Business Day during the period from the date hereof to the Maturity Date, severally agrees to make revolving loans (the “"Revolving Loans”") to Borrowersa Borrower until, but not including the Termination Date, upon such Borrower's request from time to time in accordance with Section 2.2(b), in amounts an amount not to exceed exceed, in the aggregate at any time outstanding, the lesser of (except for Bank of America with respect to Non-Ratable Loans and except for the Agent with respect to Agent Advancesi) such Lender’s 's Commitment and (ii) such Lender's Pro Rata Share of the Borrowers’ Availability. No Revolving Loan shall be made if the amount of such Revolving Loan would exceed the Availability at such time. The Lenders, however, in their unanimous discretion, may elect to make Revolving Loans in excess of the Availability on one or more occasions, but if they do so, neither the Agent nor the Lenders shall be deemed thereby to have changed the limits of the Total Credit Facility or the Availability or to be obligated to exceed such limits on any other occasion. If Without intending to limit the sum discretion of the Agent or any Lender with respect to Revolving Loans, if at any time the unpaid balance of the Revolving Loans giving effect to the requested Revolving Loan exceeds the Availability (with the Availability determined as if the amount of the outstanding Revolving Loans and were zero), then the aggregate amount Lenders, or any of Pending Revolving Loansthem, together with all outstanding indebtedness owing by Borrowers under all outstanding Letters of Credit, exceeds the Availability, Lenders may refuse to make or may otherwise restrict the making of Revolving Loans on such terms as Lenders the Lenders, or such Lender, may determine until such excess has been eliminated. Each borrowing hereunder shall consist of the same type of Revolving Loans which shall, at the option of the Borrower (but subject to the Agent’s authorityprovisions of this Agreement), be either Reference Rate Loans or Eurodollar Rate Loans, as specified by the Borrower in its sole discretion, to make Agent Advances pursuant to the terms Notice of subparagraph 2.2(i)Borrowing requesting same.
Appears in 1 contract
Amounts. Subject to the satisfaction of the conditions precedent set forth in Section Six and so long as no Default or Event of Default then existsARTICLE II, each Lender severally, but not jointly, agrees, upon Borrowers’ the Borrower's request from time to time on any Business Day during the period from the date hereof Closing Date to the Maturity Termination Date, to make revolving loans (together with each Agent Advance and Non-Ratable Loan, the “Revolving Loans”"REVOLVING LOANS") to Borrowers, the Borrower in amounts not to exceed (such Lender's Pro Rata Share of Availability, except for Bank of America with respect to Non-Ratable Loans and except for the Agent with respect to Agent Advances) such Lender’s Pro Rata Share of the Borrowers’ Availability. The Lenders, however, in their unanimous discretion, may elect to make Revolving Loans or issue or arrange to have issued Letters of Credit in excess of the Availability Borrowing Base on one or more occasions, but if they do so, neither the Agent nor the Lenders shall be deemed thereby to have changed the limits of the Total Credit Facility or the Availability Borrowing Base or to be obligated to exceed such limits on any other occasion. If the sum of outstanding Revolving Loans and Aggregate Revolver Outstandings exceed the aggregate amount of Pending Revolving LoansBorrowing Base, together with all outstanding indebtedness owing by Borrowers under all outstanding Letters of Credit, exceeds the Availability, Lenders may refuse to make or may otherwise restrict the making of Revolving Loans as the Lenders determine until such excess has been eliminated, subject to the Agent’s 's authority, in its sole discretion, to make Agent Advances pursuant to the terms of subparagraph 2.2(iSECTION 1.2(I). Each Lender is purchasing a portion of the Existing Revolving Loan and a portion of the Existing Acquisition Loan. A portion of the outstanding principal balance of the Existing Revolving Loan in the aggregate principal amount of $9,483,333.33 is hereby restated as a portion of the outstanding Revolving Loans hereunder.
Appears in 1 contract
Samples: Credit Agreement (Packaged Ice Inc)
Amounts. Subject to the satisfaction of the conditions precedent set forth in Section Six and so long as no Default or Event of Default then existsArticle 8, each Revolving Lender severally, but not jointly, agrees, upon Borrowers’ a Borrower’s request from time to time on any Business Day during the period from the date hereof Closing Date to the Maturity Termination Date, to make revolving loans (the “Revolving Loans”) to Borrowers, such Borrower in amounts not to exceed (except for Bank of America with respect to Non-Ratable Loans and except for the Agent with respect to Agent Advances) such Revolving Lender’s Pro Rata Share of the Borrowers’ AvailabilityAvailability of such Borrower, except for Non–Ratable Loans and Agent Advances. The Revolving Lenders, however, in their unanimous discretiondiscretion and with the prior written consent of the Majority Term Lenders (subject to Section 12.21), may elect to make Revolving Loans to a Borrower or issue or arrange to have issued Letters of Credit for the account of a Borrower in excess of the Availability Borrowing Base of such Borrower on one or more occasions, but if they do so, neither the Administrative Agent nor the Revolving Lenders shall be deemed thereby to have changed the limits of the Total Credit Facility or the Availability Borrowing Base of such Borrower or to be obligated to exceed such limits on any other occasion. If ; provided, that nothing herein shall in any way limit the sum of outstanding Revolving Loans and the aggregate amount of Pending Revolving Loans, together with all outstanding indebtedness owing by Borrowers under all outstanding Letters of Credit, exceeds the Availability, Lenders may refuse to make or otherwise restrict the making of Revolving Loans as Lenders determine until such excess has been eliminated, subject to the Administrative Agent’s authority, in its sole discretion, to make Agent Advances pursuant to the terms of subparagraph 2.2(iSection 1.2(i). If the Administrative Agent has actual knowledge that any Borrowing by a Borrower would exceed Availability of such Borrower, the Revolving Lenders shall not, without the prior written consent of the Majority Term Lenders, make such Borrowing to such Borrower until such excess has been eliminated, subject to the Administrative Agent’s authority, in its sole discretion, to make Agent Advances pursuant to the terms of Section 1.2(i).
Appears in 1 contract
Amounts. Subject to the satisfaction of the conditions precedent set forth in Section Six and so long as no Default or Event of Default then existsArticle 8, each Lender severally, but not jointly, agrees, upon Borrowers’ a Borrower's request from time to time on any Business Day during the period from the date hereof Closing Date to the Maturity Termination Date, to make revolving loans (the “"Revolving Loans”") to Borrowersthe Borrowers (including Ex-Im Bank Revolving Loans; provided, however, no Lender shall have any obligation to extend an Ex-Im Bank Revolving Loan to any Borrower after December 7, 2004) in amounts not to exceed (such Lender's Pro Rata Share of Availability, except for Bank of America with respect to Non-Ratable Loans and except for the Agent Advances and, as otherwise set forth herein, with respect to Agent Advances) such Lender’s Pro Rata Share of the Borrowers’ AvailabilityEx-Im Bank Revolving Loans. The Lenders, however, in their unanimous discretion, may elect to make Revolving Loans or issue or arrange to have issued Letters of Credit in excess of the Availability Borrowing Base on one or more occasions, but if they do so, neither the Agent nor the Lenders shall be deemed thereby to have changed the limits of the Total Credit Facility or the Availability Borrowing Base or to be obligated to exceed such limits on any other occasion. If the sum of outstanding Revolving Loans and the aggregate amount of Pending Revolving Loans, together with all outstanding indebtedness owing by Borrowers under all outstanding Letters of Credit, exceeds the any Borrowing would exceed Availability, the Lenders may refuse to make or may otherwise restrict the making of Revolving Loans as the Lenders determine until such excess has been eliminated, subject to the Agent’s 's authority, in its sole discretion, to make Agent Advances pursuant to the terms of subparagraph 2.2(iSection 1.2(i).
Appears in 1 contract
Samples: Credit Agreement (Unifi Inc)
Amounts. Subject to the satisfaction of the conditions precedent set forth in Section Six and so long as no Default or Event of Default then existsArticle 10, each the Lender severally, but not jointly, agrees, upon Borrowers’ a Borrower's request from time to time on any Business Day during the period from the date hereof Closing Date to the Maturity Termination Date, to make revolving loans (the “"Revolving Loans”") to Borrowers, the Borrower in amounts not to exceed (except for Bank the Borrowing Base of America with respect to Non-Ratable Loans and except for the Agent with respect to Agent Advances) such Lender’s Pro Rata Share of the Borrowers’ AvailabilityBorrower. The LendersLender, however, in their unanimous discretion, may elect to make Revolving Loans or issue or arrange to have issued Letters of Credit in excess of the Availability of a Borrower on one or more occasions, occasions but if they do so, neither it does so the Agent nor the Lenders Lender shall not be deemed thereby to have changed the limits of the Total Credit Facility or the Availability Borrowing Base or to be obligated to exceed such limits on any other occasion. If the sum Aggregate Revolver Outstandings of outstanding Revolving Loans and a Borrower exceed the aggregate amount Borrowing Base of Pending Revolving Loanssuch Borrower, together with or the Aggregate Revolver Outstandings of all outstanding indebtedness owing by Borrowers under exceed the Borrowing Base of all outstanding Letters of Credit, exceeds Borrowers or the Aggregate Availability, Lenders the Lender may refuse to make or otherwise restrict the making of Revolving Loans as Lenders determine the Lender determines until such excess has been eliminated, subject . All Revolving Loans shall be deemed first to be Inventory Loans to the Agent’s authoritymaximum amount permitted under the definition of Borrowing Base, in its sole discretion, and payments of Revolving Loans shall be applied first to make Agent Advances pursuant to the terms of subparagraph 2.2(i)Revolving Loans other than Inventory Loans except as required by Section 4.4 or 4.5.
Appears in 1 contract
Amounts. Subject to the satisfaction of the conditions precedent set forth in Section Six and so long as no Default or Event of Default then existsARTICLE 8, each Lender severally, but not jointly, agrees, upon Borrowers’ the Administrative Borrower's request from time to time on any Business Day during the period from the date hereof Closing Date to the Maturity Termination Date, to make revolving loans (including, without limitation, pursuant to the “terms of this Agreement and subject to the limitations set forth in this Agreement, revolving loans in respect of the Maximum Fixed Assets Loan Amount) (the "Revolving Loans”") to Borrowers, the Borrowers in amounts not to exceed (such Lender's Pro Rata Share of Excess Availability, except for Bank of America with respect to Non-Ratable Loans and except for the Agent with respect to Agent Advances) such Lender’s Pro Rata Share of the Borrowers’ Availability. The Lenders, however, in their unanimous discretion, may elect to make Revolving Loans or issue or arrange to have issued Letters of Credit in excess of the Availability Borrowing Base on one or more occasions, but if they do so, neither the Agent nor the Lenders shall be deemed thereby to have changed the limits of the Total Credit Facility or the Availability Borrowing Base or to be obligated to exceed such limits on any other occasion. If the sum of outstanding Revolving Loans and the aggregate amount of Pending Revolving Loans, together with all outstanding indebtedness owing by Borrowers under all outstanding Letters of Credit, exceeds the any Borrowing would exceed Excess Availability, the Lenders may refuse to make or may otherwise restrict the making of Revolving Loans as the Lenders determine until such excess has been eliminated, subject to the Agent’s 's authority, in its sole discretion, to make Agent Advances pursuant to the terms of subparagraph 2.2(iSECTION 1.2(I).
Appears in 1 contract
Samples: Credit Agreement (Andrx Corp /De/)
Amounts. Subject to the satisfaction of the conditions precedent set forth in Section Six Article 10 and so long subject to the Interim Bankruptcy Court Order and the Final Bankruptcy Court Order, as no Default or Event of Default then existsthe case may be, each Lender severally, but not jointly, severally agrees, upon the Borrowers’ ' request from time to time on any Business Day during the period from the date hereof Closing Date to but excluding the Maturity Termination Date, to make revolving loans (the “"Revolving Loans”") to the Borrowers, in amounts not to exceed (except for Bank of America BABC with respect to Non-Ratable BABC Loans and except for the Agent with respect to or Agent Advances) such Lender’s 's Pro Rata Share of the Borrowers’ Combined Availability. The Lenders, however, in their unanimous discretion, may elect to make Revolving Loans to the Borrowers or participate (as provided for in Section 2.3(f)) in the credit support or enhancement provided through the Agent to the issuers of Letters of Credit in excess of the Combined Availability on one or more occasions, but if they do so, neither the Agent nor the Lenders shall be deemed thereby to have changed the limits of the Total Credit Facility Maximum Revolver Amount or the Combined Availability or to be obligated to exceed such limits on any other occasion. If the sum of outstanding Revolving Loans and Combined Availability is equal or less than zero, the aggregate amount of Pending Revolving Loans, together with all outstanding indebtedness owing by Borrowers under all outstanding Letters of Credit, exceeds the Availability, Lenders may refuse to make or otherwise restrict the making of Revolving Loans as the Lenders determine until such excess has been eliminatedthe Combined Availability is greater than zero, subject to the Agent’s 's authority, in its sole discretion, to make Agent Advances pursuant to the terms of subparagraph Section 2.2(i). All loans (including principal, accrued interest and fees) and all other obligations owing under the Interim Agreement and related documents shall be deemed to be Revolving Loans hereunder and/or other Obligations owing under this Agreement. Subject to the terms and conditions set forth herein, the Borrowers may borrow, prepay and reborrow Revolving Loans.
Appears in 1 contract
Amounts. Subject to the satisfaction of the conditions precedent set forth in Section Six Article 11 and so long as no Default or Event of Default then existssubject to the applicable DIP Orders, each Lender severally, but not jointly, severally agrees, upon the Borrowers’ request from time to time on any Business Day during the period from the date hereof Closing Date to but excluding the Maturity Termination Date, to make revolving loans (the “Revolving LoansLoans ”) to the Borrowers, in amounts not to exceed (except for the Bank of America with respect to Non-Ratable Bank Loans and except for the Agent with respect to or Agent Advances) such LenderXxxxxx’s Pro Rata Share of the Borrowers’ Combined Availability. The Lenders, however, in their unanimous discretion, may elect to make Revolving Loans to the Borrowers or participate (as provided for in Section 2.3(f)) in the credit support or enhancement provided through the Agent to the issuers of Letters of Credit in excess of the Combined Availability on one or more occasions, but if they do so, neither the Agent nor the Lenders shall be deemed thereby to have changed the limits of the Total Credit Facility Maximum Revolver Amount or the Combined Availability or to be obligated to exceed such limits on any other occasion. If the sum of outstanding Revolving Loans and Combined Availability is equal or less than zero, the aggregate amount of Pending Revolving Loans, together with all outstanding indebtedness owing by Borrowers under all outstanding Letters of Credit, exceeds the Availability, Lenders may refuse to make or otherwise restrict the making of Revolving Loans as the Lenders determine until such excess has been eliminatedthe Combined Availability is greater than zero, subject to the Agent’s authority, in its sole discretion, to make Agent Advances pursuant to the terms of subparagraph Section 2.2(i). Subject to the terms and conditions set forth herein, the Borrowers may borrow, prepay and reborrow Revolving Loans.
Appears in 1 contract
Samples: Loan and Security Agreement
Amounts. Subject to the satisfaction of the conditions precedent set forth in Section Six and so long as no Default or Event of Default then existsArticle 10, each Lender severally, but not jointly, severally agrees, upon Borrowers’ a Borrower's request from time to time on any Business Day during the period from the date hereof Closing Date to the Maturity Termination Date, to make revolving loans (the “"Revolving Loans”") to Borrowerssuch Borrower, in amounts not to exceed (except for Bank of America BABC with respect to Non-Ratable BABC Loans and except for the Agent with respect to or Administrative Agent Advances) such Lender’s 's Pro Rata Share of the Borrowers’ such Borrower's Individual Availability. The Lenders, however, in their unanimous discretion, may elect to make Revolving Loans or participate (as provided for in Section 2.4(f)) in the credit support or enhancement provided to a Borrower through the Administrative Agent to the issuers of Letters of Credit in excess of the such Borrower's Individual Availability on one or more occasions, but if they do so, neither the Administrative Agent nor the Lenders shall be deemed thereby to have changed the limits of the Total Credit Facility or the such Borrower's Individual Availability or to be obligated to exceed such limits on any other occasion. If the sum of outstanding Revolving Loans and the aggregate amount of Pending Revolving Loans, together with all outstanding indebtedness owing by Borrowers under all outstanding Letters of Credit, a Borrower's Individual Outstandings exceeds the AvailabilityIndividual Availability of such Borrower, the Lenders may refuse to make or otherwise restrict the making of Revolving Loans to such Borrower as the Lenders determine until such excess has been eliminated, subject to the Agent’s authority, in its sole discretion, to make Agent Advances pursuant to the terms of subparagraph 2.2(i).the
Appears in 1 contract
Amounts. Subject to the satisfaction of the conditions precedent set forth in Section Six and so long as no Default or Event of Default then existsArticle 10, each Lender severally, but not jointly, agrees, upon Borrowers’ the Borrower’s request from time to time on any Business Day during the period from the date hereof Loan Availability Date to the Maturity Termination Date, to make revolving loans (the “Revolving Loans”) to Borrowers, the Borrower in amounts not to exceed (except for the Bank of America with respect to Non-Ratable Loans and except or for the Agent with respect to Agent Advances) such Lender’s Pro Rata Share of the Borrowers’ AvailabilityBorrowing Base. The Lenders, however, in their unanimous discretion, may elect to make Revolving Loans or issue or arrange to have issued, or participate (as provided for in Section 2.4(f)) in the credit support or enhancement provided through the Agent to the Letter of Credit Issuer in excess of the Availability on one or more occasions, but if they do so, neither the Agent nor the Lenders shall be deemed thereby to have changed the limits of the Total Credit Facility or the Availability Borrowing Base or to be obligated to exceed such limits on any other occasion. If the sum of outstanding Revolving Loans and Aggregate Revolver Outstandings exceed the aggregate amount of Pending Revolving LoansBorrowing Base, together with all outstanding indebtedness owing by Borrowers under all outstanding Letters of Credit, exceeds the Availability, Lenders may refuse to make or otherwise restrict the making of Revolving Loans as the Lenders determine until such excess has been eliminated, subject to the Agent’s authority, in its sole discretion, to make Agent Advances pursuant to the terms of subparagraph Section 2.2(i).
Appears in 1 contract
Samples: Loan and Security Agreement (Advanced Micro Devices Inc)
Amounts. Subject to the satisfaction of the conditions precedent set forth in Section Six and so long as no Default or Event of Default then existsArticle 8, each Lender severally, but not jointly, agrees, agrees upon Borrowers’ the Borrower’s request from time to time on any Business Day during the period from the date hereof Closing Date to the Maturity Termination Date, to make revolving loans (the “Revolving Loans”) to Borrowers, the Borrowers in amounts not to exceed (except for Bank of America with respect to Non-Ratable Loans and except for the Agent with respect to Agent Advances) such Lender’s Pro Rata Share of Availability and CAPEX Loans (collectively with the Borrowers’ AvailabilityRevolving Loans, the “Loans”) to the Borrowers in amounts not to exceed such Lender’s CAPEX Loan Commitment except in each instance for Non-Ratable Loans and Agent Advances. The Lenders, however, in their unanimous discretion, may elect to make Revolving Loans or issue or arrange to have issued Letters of Credit in excess of the Availability Borrowing Base on one or more occasions, but if they do so, neither the Agent nor the Lenders shall be deemed thereby to have changed the limits of the Total Credit Facility or the Availability Borrowing Base or to be obligated to exceed such limits on any other occasion. If the sum of outstanding Revolving Loans and Aggregate Revolver Outstandings would exceed Availability after giving effect to any Borrowing, the aggregate amount of Pending Revolving Loans, together with all outstanding indebtedness owing by Borrowers under all outstanding Letters of Credit, exceeds the Availability, Lenders may refuse to make or may otherwise restrict the making of Revolving Loans as the Lenders determine until such excess has been eliminated, subject to the Agent’s authority, in its sole discretion, to make Agent Advances pursuant to the terms of subparagraph 2.2(iSection 1.2(i).
Appears in 1 contract
Amounts. Subject to the satisfaction of the conditions precedent set forth in Section Six and so long as no Default or Event of Default then existsARTICLE 10, each Lender severally, but not jointly, severally agrees, upon Borrowers’ a Borrower's request from time to time on any Business Day during the period from the date hereof Closing Date to the Maturity Termination Date, to make revolving loans (the “"Revolving Loans”") to Borrowerssuch Borrower, in amounts not to exceed for the Borrowers on an aggregate basis (except for Bank of America BABC with respect to Non-Ratable BABC Loans and except for the Agent with respect to or Agent Advances) such Lender’s 's Pro Rata Share of the Borrowers’ Combined Availability. The Lenders, however, in their unanimous discretion, may elect to make Revolving Loans to the Borrowers or participate (as provided for in SECTION 2.3(f)) in the credit support or enhancement provided through the Agent to the issuers of Letters of Credit in excess of the Combined Availability on one or more occasions, but if they do so, neither the Agent nor the Lenders shall be deemed thereby to have changed the limits of the Total Credit Facility Maximum Revolver Amount or the Combined Availability or to be obligated to exceed such limits on any other occasion. If the sum of (i) the aggregate outstanding Revolving Loans and Term Loans to the Borrowers, (ii) the aggregate amount of Pending Revolving LoansLoans to the Borrowers, together with all outstanding indebtedness owing by Borrowers under all (iii) the aggregate undrawn amount of outstanding Letters of Credit, Credit and (iv) any unpaid reimbursement obligations in respect of Letters of Credit exceeds the AvailabilityCombined Availability (with Combined Availability determined as if clauses (b)(i) through (iv) of such definition were zero), the Lenders may refuse to make or otherwise restrict the making of Revolving Loans to a Borrower as the Lenders determine until such excess has been eliminated, subject to the Agent’s 's authority, in its sole discretion, to make Agent Advances pursuant to the terms of subparagraph SECTION 2.2(i).
Appears in 1 contract
Amounts. Subject to the satisfaction of the conditions precedent set forth in Section Six Article 8 and so long subject to the Interim Financing Order and the Final Financing Order, as no Default or Event of Default then existsthe case may be, each Lender severally, but not jointly, agrees, upon Borrowers’ a Borrower's request from time to time on any Business Day during the period from the date hereof Closing Date to the Maturity Termination Date, to make revolving loans (the “"Revolving Loans”") to Borrowers, such Borrower in amounts not to exceed (such Lender's Pro Rata Share of Availability of such Borrower, except for Bank of America with respect to Non-Ratable Loans and except for the Agent with respect to Agent Advances) such Lender’s Pro Rata Share of the Borrowers’ Availability. The Lenders, however, in their unanimous discretion, may elect to make Revolving Loans to a Borrower or issue or arrange to have issued Letters of Credit for the account of a Borrower in excess of the Availability of such Borrower on one or more occasions, but if they do so, neither the Administrative Agent nor the Lenders shall be deemed thereby to have changed the limits of the Total Credit Facility or the Availability of such Borrower or to be obligated to exceed such limits on any other occasion. If ; provided, that nothing herein shall in any way limit the sum of outstanding Revolving Loans and the aggregate amount of Pending Revolving Loans, together with all outstanding indebtedness owing by Borrowers under all outstanding Letters of Credit, exceeds the Availability, Lenders may refuse to make or otherwise restrict the making of Revolving Loans as Lenders determine until such excess has been eliminated, subject to the Administrative Agent’s 's authority, in its sole discretion, to make Agent Advances pursuant to the terms of subparagraph 2.2(iSection 1.2(i). If the Administrative Agent has actual knowledge that any Borrowing by a Borrower would exceed Availability of such Borrower, the Lenders shall not, without the prior written consent of all of the Lenders, make such Borrowing to such Borrower until such excess has been eliminated, subject to the Administrative Agent's authority, in its sole discretion, to make Agent Advances pursuant to the terms of Section 1.2(i).
Appears in 1 contract
Amounts. Subject to the satisfaction of the conditions precedent set forth in Section Six and so long as no Default or Event of Default then existsArticle 10, each Lender severally, but not jointly, severally agrees, upon Borrowers’ the Borrower's request from time to time on any Business Day during the period from the date hereof Closing Date to but excluding the Maturity Termination Date, to make revolving loans (the “"Revolving Loans”") to Borrowersthe Borrower, in amounts not to exceed (except for Bank of America BABC with respect to Non-Ratable BABC Loans and except for the Agent with respect to or Agent Advances) such Lender’s 's Pro Rata Share of the Borrowers’ Borrower's Availability. The Lenders, however, in their unanimous discretion, may elect to make Revolving Loans or participate (as provided for in Section 2.4(f)) in the credit support or enhancement provided through the Agent to the issuers of Letters of Credit in excess of the Availability on one or more occasions, but if they do so, neither the Agent nor the Lenders shall be deemed thereby to have changed the limits of the Total Credit Facility Maximum Revolver Amount or the Availability or to be obligated to exceed such limits on any other occasion. If the sum of outstanding Revolving Loans and Loans, the aggregate amount of Pending Revolving Loans, together with all outstanding indebtedness owing by Borrowers under all the undrawn amount of outstanding Letters of Credit, Credit and any unpaid reimbursement obligations in respect of Letters of Credit exceeds the Availability, the Lenders may refuse to make or otherwise restrict the making of Revolving Loans as the Lenders determine until such excess has been eliminated, subject to the Agent’s 's authority, in its sole discretion, to make Agent Advances pursuant to the terms of subparagraph Section 2.2(i).
Appears in 1 contract
Samples: Loan and Security Agreement (United States Leather Inc /Wi/)
Amounts. Subject to the satisfaction of the conditions precedent set forth in Section Six and so long as no Default or Event of Default then existsARTICLE 10, each Lender severally, but not jointly, severally agrees, upon Borrowers’ a Borrower's request from time to time on any Business Day during the period from the date hereof Closing Date to the Maturity Termination Date, to make revolving loans (the “"Revolving Loans”") to Borrowerssuch Borrower, in amounts not to exceed for the Borrowers on an aggregate basis (except for Bank of America BABC with respect to Non-Ratable BABC Loans and except for the Agent with respect to or Agent Advances) such Lender’s 's Pro Rata Share of the Borrowers’ Combined Availability. The Lenders, however, in their unanimous discretion, may elect to make Revolving Loans to the Borrowers or participate (as provided for in SECTION 2.3(f)) in the credit support or enhancement provided through the Agent to the issuers of Letters of Credit in excess of the Combined Availability on one or more occasions, but if they do so, neither the Agent nor the Lenders shall be deemed thereby to have changed the limits of the Total Credit Facility Maximum Revolver Amount or the Combined Availability or to be obligated to exceed such limits on any other occasion. If the sum of (i) the aggregate outstanding Revolving Loans and to the Borrowers, (ii) the aggregate amount of Pending Revolving LoansLoans to the Borrowers, together with all outstanding indebtedness owing by Borrowers under all (iii) the aggregate undrawn amount of outstanding Letters of Credit, Credit and (iv) any unpaid reimbursement obligations in respect of Letters of Credit exceeds the AvailabilityCombined Availability (with Combined Availability determined as if clauses (b)(i) through (iv) of such definition were zero), the Lenders may refuse to make or otherwise restrict the making of Revolving Loans to a Borrower as the Lenders determine until such excess has been eliminated, subject to the Agent’s 's authority, in its sole discretion, to make Agent Advances pursuant to the terms of subparagraph SECTION 2.2(i).
Appears in 1 contract
Amounts. Subject to the satisfaction of the conditions precedent set forth in Section Six Article 8 (and so long as no Default or Event of Default then existswith respect to Ex-Im Bank Revolving Loans, such other conditions precedent imposed by the Bank), each Lender severally, but not jointly, agrees, upon Borrowers’ a Borrower’s request from time to time on any Business Day during the period from the date hereof Closing Date to the Maturity Termination Date, to make revolving loans (the “Revolving Loans”) to Borrowersthe Borrowers (including Ex-Im Bank Revolving Loans to Borrowers that are eligible borrowers under an Ex-Im Bank Guaranteed Loan; provided, however, no Lender shall have any obligation to extend an Ex-Im Bank Revolving Loan to any Borrower after the sooner of three (3) years after the Funding Date of the initial Ex-Im Bank Revolving Loan, if any, or the Termination Date) in amounts not to exceed (except for Bank of America with respect to Non-Ratable Loans and except for the Agent with respect to Agent Advances) such Lender’s Pro Rata Share of the Borrowers’ Availability, except for Non Ratable Loans and Agent Advances and, as otherwise set forth herein, with respect to Ex-Im Bank Revolving Loans. The Lenders, however, in their unanimous discretion, may elect to make Revolving Loans or issue or arrange to have issued Letters of Credit in excess of the Availability Borrowing Base on one or more occasions, but if they do so, neither the Agent nor the Lenders shall be deemed thereby to have changed the limits of the Total Credit Facility or the Availability Borrowing Base or to be obligated to exceed such limits on any other occasion. If the sum of outstanding Revolving Loans and the aggregate amount of Pending Revolving Loans, together with all outstanding indebtedness owing by Borrowers under all outstanding Letters of Credit, exceeds the any Borrowing would exceed Availability, the Lenders may refuse to make or may otherwise restrict the making of Revolving Loans as the Lenders determine until such excess has been eliminated, subject to the Agent’s authority, in its sole discretion, to make Agent Advances pursuant to the terms of subparagraph 2.2(iSection 1.2(i).
Appears in 1 contract
Samples: Credit Agreement (Unifi Inc)
Amounts. Subject to the satisfaction terms and conditions of the conditions precedent set forth in Section Six and so long as no Default or Event of Default then existsthis Agreement, each Lender severally, but not jointly, agrees, upon ACL's request on behalf of the Borrowers’ request , from time to time on any Business Day during the period from the date hereof Closing Date to the Maturity Termination Date, to make revolving loans (the “"Revolving Loans”") to Borrowers, the Borrowers in amounts not to exceed (except for Bank of America with respect to Non-Ratable Loans and except for the Agent with respect to Agent Advances) such Lender’s 's Pro Rata Share of the Borrowers’ Availability. The LendersCommitments, provided, however, that at no time shall Revolving Loans be made if, as a result thereof, the Aggregate Revolver Outstandings would exceed the Borrowing Base. Notwithstanding the proviso in the preceding sentence, the Lenders may, in their unanimous discretion, may elect to make Revolving Loans in excess of that would cause the Availability Aggregate Revolver Outstandings to exceed the Borrowing Base on one or more occasions, but if they do so, neither the Agent nor the Lenders shall be deemed thereby to have changed the limits of the Total Credit Facility or the Availability Borrowing Base or to be obligated to exceed such limits on any other occasion. If the sum of outstanding any requested Revolving Loans and the aggregate amount of Pending Revolving Loans, together with all outstanding indebtedness owing by Borrowers under all outstanding Letters of Credit, Loan exceeds the Availability, Unused Availability then the Lenders may refuse to make or may otherwise restrict the making of such Revolving Loans as Lenders determine until such excess has been eliminatedLoan, subject to the Agent’s 's authority, in its sole discretion, to make Agent Advances pursuant to the terms of subparagraph 2.2(iSection 2.01(b)(x).
Appears in 1 contract
Amounts. Subject to the satisfaction of the conditions precedent set forth in Section Six Article 8, and so long as no Default or Event of Default then existsexcept for Non-Ratable Loans and Agent Advances, each Revolving Credit Lender severally, but not jointly, agrees, upon Borrowers’ a Borrower’s request from time to time on any Business Day during the period from the date hereof Closing Date to the Maturity Termination Date, to make revolving loans (the “Revolving Loans”) to Borrowers, the Borrowers in aggregate amounts not to exceed (except for Bank of America with respect to Non-Ratable Loans and except for the Agent with respect to Agent Advances) such Lender’s Pro Rata Share of the Borrowers’ Aggregate Availability; provided that on the date of such request, and giving pro forma effect to such request, the aggregate amount advanced pursuant to this Section 1.2(a)(i) against the aggregate manufactured housing Inventory of FMC and FRC shall not exceed 25% of the Aggregate Availability (the “Manufactured Housing Inventory Limit”). The Revolving Credit Lenders, however, in their unanimous discretion, may elect to make Revolving Loans or issue or arrange to have issued Letters of Credit in excess of the Availability Aggregate Borrowing Bases or the Borrowing Base of FMC or FRC or the Manufactured Housing Inventory Limit, as applicable, on one or more occasions, but if they do so, neither the Agent nor the Revolving Credit Lenders shall be deemed thereby to have changed the limits of the Total Credit Facility Borrowing Base of FMC or FRC, or the Availability Aggregate Borrowing Bases or the Manufactured Housing Inventory Limit or to be obligated to exceed such limits on any other occasion. If the sum of outstanding Revolving Loans and the aggregate amount of Pending Revolving Loans, together with all outstanding indebtedness owing by Borrowers under all outstanding Letters of Credit, exceeds the Availability, Lenders may refuse to make or otherwise restrict the making of Revolving Loans as Lenders determine until such excess has been eliminated, subject to the Agent’s authority, in its sole discretion, to make Agent Advances pursuant to the terms of subparagraph 2.2(i).
Appears in 1 contract
Amounts. Subject to the satisfaction of the conditions precedent set forth in Section Six and so long as no Default or Event of Default then existsArticle 10, each Lender severally, but not jointly, severally agrees, upon Borrowers’ the Borrower's request from time to time on any Business Day during the period from the date hereof Closing Date to the Maturity Termination Date, to make revolving loans (the “"Revolving Loans”") to Borrowersthe Borrower, in amounts not to exceed (except for Bank of America with respect to Non-Ratable Loans and except for the Agent with respect to Agent AdvancesBANA Loans) such Lender’s 's Pro Rata Share of the Borrowers’ Borrower's Revolver Availability. The Lenders, however, in their unanimous discretion, may elect to make Revolving Loans or participate (as provided for in Section 2.4(f) in the credit support or enhancement provided through the Agent to the issuers of Letters of Credit in excess of the Revolver Availability on one or more occasions, but if they do so, neither the Agent nor the Lenders shall be deemed thereby to have changed the limits of the Total Credit Facility Maximum Revolver Amount or the Revolver Availability or to be obligated to exceed such limits on any other occasion. If the sum of outstanding Revolving Loans and Loans, the aggregate amount of Pending Revolving Loans, together with all outstanding indebtedness owing by Borrowers under all the undrawn amount of outstanding Letters of Credit, Credit and any unpaid reimbursement obligations in respect of Letters of Credit exceeds the Revolver Availability, the Lenders may refuse to make or otherwise restrict the making of Revolving Loans as the Lenders determine until such excess has been eliminated, subject to the Agent’s authority, in its sole discretion, to make Agent Advances pursuant to the terms of subparagraph 2.2(i).
Appears in 1 contract
Amounts. Subject to the satisfaction of the conditions precedent set forth in Section Six and so long as no Default or Event of Default then existsArticle 8, each Lender severally, but not jointly, agrees, upon Borrowers’ a Borrower’s request from time to time on AMENDED AND RESTATED CREDIT AGREEMENT any Business Day during the period from the date hereof Closing Date to the Maturity Termination Date, to make revolving loans (including revolving loans made pursuant to Section 1.2(h) and Non-Ratable Loans and Agent Advances made pursuant to Section 1.2(i) and Section 1.2(j), respectively, the “Revolving Loans”) to Borrowers, the Borrowers in amounts not to exceed (such Lender’s Pro Rata Share, based upon its Revolving Loans Commitment, of the Availability, except for Bank of America with respect to Non-Ratable Loans and except for the Agent with respect to Agent Advances) such Lender’s Pro Rata Share of the Borrowers’ Availability. The Lenders, however, in their unanimous discretion, may elect to make Revolving Loans or issue or arrange to have issued Letters of Credit in excess of the Availability or the Borrowing Base on one or more occasions, but but, if they do so, neither the Agent nor the Lenders shall be deemed thereby to have changed the limits of the Total Credit Facility Availability or the Availability Borrowing Base or to be obligated to exceed such limits on any other occasion. If the sum of outstanding Revolving Loans and Aggregate Revolver Outstandings would exceed Availability after giving effect to any Borrowing, then the aggregate amount of Pending Revolving Loans, together with all outstanding indebtedness owing by Borrowers under all outstanding Letters of Credit, exceeds the Availability, Lenders may refuse to make or may otherwise restrict the making of Revolving Loans and the issuance of Letters of Credit as the Lenders determine until such excess has been eliminated, subject to the Agent’s authority, in its sole discretion, to make Agent Advances pursuant to the terms of subparagraph 2.2(iSection 1.2(j).
Appears in 1 contract
Amounts. Subject to the satisfaction terms and conditions of the conditions precedent set forth in Section Six and so long as no Default or Event of Default then existsthis Agreement, each Lender severally, but not jointly, agrees, upon ACL’s request on behalf of the Borrowers’ request , from time to time on any Business Day during the period from the date hereof Closing Date to the Maturity Termination Date, to make revolving loans (the “Revolving Loans”) to Borrowers, the Borrowers in amounts not to exceed (except for Bank of America with respect to Non-Ratable Loans and except for the Agent with respect to Agent Advances) such Lender’s Pro Rata Share of the Borrowers’ Availability. The LendersCommitments, provided, however, that at no time shall Revolving Loans be made if, as a result thereof, the Aggregate Revolver Outstandings would exceed the Borrowing Base. Notwithstanding the proviso in the preceding sentence, the Lenders may, in their unanimous discretion, may elect to make Revolving Loans in excess of that would cause the Availability Aggregate Revolver Outstandings to exceed the Borrowing Base on one or more occasions, but if they do so, neither the Agent nor the Lenders shall be deemed thereby to have changed the limits of the Total Credit Facility or the Availability Borrowing Base or to be obligated to exceed such limits on any other occasion. If the sum of outstanding any requested Revolving Loans and the aggregate amount of Pending Revolving Loans, together with all outstanding indebtedness owing by Borrowers under all outstanding Letters of Credit, Loan exceeds the Availability, Unused Availability then the Lenders may refuse to make or may otherwise restrict the making of such Revolving Loans as Lenders determine until such excess has been eliminatedLoan, subject to the Agent’s authority, in its sole discretion, to make Agent Advances pursuant to the terms of subparagraph 2.2(iSection 2.01(b)(x).
Appears in 1 contract
Samples: Security Agreement (Jeffboat LLC)
Amounts. Subject to the satisfaction of the conditions precedent set forth in Section Six and so long as no Default or Event of Default then existsArticle 8, each Lender severally, but not jointly, agrees, upon Borrowers’ a Borrower's request from time to time on any Business Day during the period from the date hereof Closing Date to the Maturity Termination Date, to make revolving loans (including revolving loans made pursuant to Section 1.2(h) and Non-Ratable Loans and Agent Advances made pursuant to Section 1.2(i) and Section 1.2(j), respectively, the “"Revolving Loans”") to Borrowers, the Borrowers in amounts not to exceed (such Lender's Pro Rata Share, based upon its Revolving Loans Commitment, of the Availability, except for Bank of America with respect to Non-Ratable Loans and except for the Agent with respect to Agent Advances) such Lender’s Pro Rata Share of the Borrowers’ Availability. The Lenders, however, in their unanimous discretion, may elect to make Revolving Loans or issue or arrange to have issued Letters of Credit in excess of the Availability or the Borrowing Base on one or more occasions, but but, if they do so, neither the Agent nor the Lenders shall be deemed thereby to have changed the limits of the Total Credit Facility Availability or the Availability Borrowing Base or to be obligated to exceed such limits on any other occasion. If the sum of outstanding Revolving Loans and Aggregate Revolver Outstandings would exceed Availability after giving effect to any Borrowing, then the aggregate amount of Pending Revolving Loans, together with all outstanding indebtedness owing by Borrowers under all outstanding Letters of Credit, exceeds the Availability, Lenders may refuse to make or may otherwise restrict the making of Revolving Loans and the issuance of Letters of Credit as the Lenders determine until such excess has been eliminated, subject to the Agent’s 's authority, in its sole discretion, to make Agent Advances pursuant to the terms of subparagraph 2.2(iSection 1.2(j).
Appears in 1 contract
Amounts. Subject to the satisfaction of the conditions precedent set forth in Section Six and so long as no Default or Event of Default then existsArticle 10, each Lender severally, but not jointly, severally agrees, upon Borrowers’ a Borrower's request from time to time on any Business Day during the period from the date hereof Closing Date to the Maturity Termination Date, to make revolving loans (the “"Revolving Loans”") to Borrowerssuch Borrower, in amounts not to exceed (except for Bank of America BABC with respect to Non-Ratable Loans and except for the BABC Loans, Agent with respect to Agent Advances or Over Advances) such Lender’s 's Pro Rata Share of the Borrowers’ such Borrower's Availability. The Lenders, however, in their unanimous discretion, may elect to make Revolving Loans or participate (as provided for in Section 2.4(f)) in the credit support or enhancement provided through the Agent to the issuers of Letters of Credit for the account of a Borrower in excess of the such Borrower's Availability on one or more occasions, but if they do so, neither the Agent nor the Lenders shall be deemed thereby to have changed the limits of the Total Credit Facility Individual Revolver Amount or the Availability of a Borrower or to be obligated to exceed such limits on any other occasion. If the sum Aggregate Revolver Outstandings for the account of outstanding Revolving Loans and the aggregate amount of Pending Revolving Loans, together with all outstanding indebtedness owing by Borrowers under all outstanding Letters of Credit, a Borrower exceeds the AvailabilityAvailability of such Borrower (with such Availability for this purpose calculated as if the Aggregate Revolver Outstandings for the account of such Borrower were zero), the Lenders may refuse to make or otherwise restrict the making of Revolving Loans for the account of either Borrower as the Lenders determine until such excess has been eliminated, subject to the Agent’s 's authority, in its sole discretion, to make Agent Advances pursuant to the terms of subparagraph Section 2.2(i), and subject to the Agent's authority, in its sole discretion, to make Over Advances pursuant to the terms of Section 2.2(j).
Appears in 1 contract
Samples: Loan and Security Agreement (Strategic Distribution Inc)
Amounts. Subject to the satisfaction of the conditions precedent set forth in Section Six and so long as no Default or Event of Default then existsARTICLE 10, each Lender severally, but not jointly, severally agrees, upon Borrowers’ the Borrower's request from time to time on any Business Day during the period from the date hereof Closing Date to the Maturity Termination Date, to make revolving loans (the “"Revolving Loans”") to Borrowersthe Borrower, in amounts not to exceed (except for the Bank of America with respect to Non-Ratable Loans and except for the Loans, Agent with respect to Agent Advances or Over Advances) such Lender’s 's Pro Rata Share of the Borrowers’ Borrower's Availability. The Lenders, however, in their unanimous discretion, may elect to make Revolving Loans or participate (as provided for in SECTION 2.4(f)) in the credit support or enhancement provided through the Agent to the issuers of Letters of Credit for the account of the Borrower in excess of the Borrower's Availability on one or more occasions, but if they do so, neither the Agent nor the Lenders shall be deemed thereby to have changed the limits of the Total Credit Facility Maximum Revolver Amount or the Availability of the Borrower or to be obligated to exceed such limits on any other occasion. If the sum Aggregate Revolver Outstandings for the account of outstanding Revolving Loans and the aggregate amount of Pending Revolving Loans, together with all outstanding indebtedness owing by Borrowers under all outstanding Letters of Credit, Borrower exceeds the AvailabilityAvailability of the Borrower (with such Availability for this purpose calculated as if the Aggregate Revolver Outstandings for the account of the Borrower were zero), the Lenders may refuse to make or otherwise restrict the making of Revolving Loans for the account of the Borrower as the Lenders determine until such excess has been eliminated, subject to the Agent’s 's authority, in its sole discretion, to make Agent Advances pursuant to the terms of subparagraph SECTION 2.2(i), and subject to the Agent's authority, in its sole discretion, to make Over Advances pursuant to the terms of SECTION 2.2(j).
Appears in 1 contract
Samples: Loan and Security Agreement (Strategic Distribution Inc)
Amounts. Subject to the satisfaction of the conditions precedent set forth in Section Six and so long as no Default or Event of Default then existsArticle 8, each Lender severally, but not jointly, agrees, upon Borrowers’ a Borrower’s request from time to time on any Business Day during the period from the date hereof Closing Date to the Maturity Termination Date, to make revolving loans (the “Revolving Loans”) to Borrowersthe Borrowers (including Ex-Im Bank Revolving Loans; provided, however, no Lender shall have any obligation to extend an Ex-Im Bank Revolving Loan to any Borrower after May 26, 2009) in amounts not to exceed (except for Bank of America with respect to Non-Ratable Loans and except for the Agent with respect to Agent Advances) such Lender’s Pro Rata Share of the Borrowers’ Availability, except for Non-Ratable Loans and Agent Advances and, as otherwise set forth herein, with respect to Ex-Im Bank Revolving Loans. The Lenders, however, in their unanimous discretion, may elect to make Revolving Loans or issue or arrange to have issued Letters of Credit in excess of the Availability Borrowing Base on one or more occasions, but if they do so, neither the Agent nor the Lenders shall be deemed thereby to have changed the limits of the Total Credit Facility or the Availability Borrowing Base or to be obligated to exceed such limits on any other occasion. If the sum of outstanding Revolving Loans and the aggregate amount of Pending Revolving Loans, together with all outstanding indebtedness owing by Borrowers under all outstanding Letters of Credit, exceeds the any Borrowing would exceed Availability, the Lenders may refuse to make or may otherwise restrict the making of Revolving Loans as the Lenders determine until such excess has been eliminated, subject to the Agent’s authority, in its sole discretion, to make Agent Advances pursuant to the terms of subparagraph 2.2(iSection 1.2(i).
Appears in 1 contract
Samples: Credit Agreement (Unifi Inc)
Amounts. Subject to the satisfaction of the conditions precedent set forth in Section Six and so long as no Default or Event of Default then existsArticle 10, each Lender severally, but not jointly, severally agrees, upon Borrowers’ the Borrower's request from time to time on any Business Day during the period from the date hereof Closing Date to the Maturity Termination Date, to make revolving loans (the “'Revolving Loans”') to Borrowersthe Borrower, in amounts not to exceed (except for Bank of America BABC with respect to Non-Ratable BABC Loans and except for the Agent with respect to or Agent Advances) such Lender’s 's Pro Rata Share of the Borrowers’ Combined Availability. The Lenders, however, in their unanimous discretion, may elect to make Revolving Loans to the Borrower or participate (as provided for in Section 2.3(f)) in the credit support or enhancement provided through the Agent to the issuers of Letters of Credit in excess of the Combined Availability on one or more occasions, but if they do so, neither the Agent nor the Lenders shall be deemed thereby to have changed the limits of the Total Credit Facility Maximum Revolver Amount or the Combined Availability or to be obligated to exceed such limits on any other occasion. If the sum of (i) the aggregate outstanding Revolving Loans and to the Borrower, (ii) the aggregate amount of Pending Revolving LoansLoans to the Borrower, together with all outstanding indebtedness owing by Borrowers under all (iii) the aggregate undrawn amount of outstanding Letters of Credit, Credit and (iv) any unpaid reimbursement obligations in respect of Letters of Credit exceeds the AvailabilityCombined Availability (with Combined Availability determined as if clauses (b)(i) through (iv) of such definition were zero), the Lenders may refuse to make or otherwise restrict the making of Revolving Loans to the Borrower as the Lenders determine until such excess has been eliminated, subject to the Agent’s 's authority, in its sole discretion, to make Agent Advances pursuant to the terms of subparagraph Section 2.2(i)."
Appears in 1 contract
Amounts. Subject to the satisfaction of the conditions precedent set forth in Section Six and so long as no Default or Event of Default then existsArticle 8, each Lender severally, but not jointly, agrees, upon Borrowers’ a Borrower's request from time to time on any Business Day during the period from the date hereof Closing Date to the Maturity Termination Date, to make revolving loans (the “"Revolving Loans”") to Borrowers, the Borrowers (including Revolving Loans that qualify as Ex-Im Bank Guaranteed Loans under the Ex-Im Bank Borrower Agreement) in amounts not to exceed (such Lender's Pro Rata Share of the Availability, except for Bank of America with respect to Non-Ratable Loans and except for the Agent Advances and as otherwise set forth herein with respect to Agent Advances) such Lender’s Pro Rata Share of the Borrowers’ AvailabilityEx-Im Bank Guaranteed Loans. The Lenders, however, in their unanimous discretion, may elect to make Revolving Loans or issue or arrange to have issued Letters of Credit or Credit Support in excess of the Availability or the Borrowing Base on one or more occasionsoccasions (provided that any such advance of an Ex-Im Bank Guaranteed Loan may not exceed the limitations specified in Section 1.2(k) or in the definition of Export-Related Borrowing Base contained in the Ex-Im Bank Borrower Agreement), but if they do so, neither the Agent nor the Lenders shall be deemed thereby to have changed the limits of the Total Credit Facility Availability or the Availability Borrowing Base or to be obligated to exceed such limits on any other occasion. If the sum of outstanding Revolving Loans and Aggregate Revolver Outstandings would exceed the aggregate amount of Pending Revolving LoansBorrowing Base after giving effect to any Borrowing, together with all outstanding indebtedness owing by Borrowers under all outstanding Letters of Credit, exceeds the Availability, Lenders may refuse to make or may otherwise restrict the making of Revolving Loans and the issuance of Letters of Credit and Credit Support as the Lenders determine until such excess has been eliminated, subject to the Agent’s 's authority, in its sole discretion, to make Agent Advances pursuant to the terms of subparagraph 2.2(iSection 1.2(j).
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Amounts. Subject to the satisfaction of the conditions precedent set forth in Section Six and so long as no Default or Event of Default then existsArticle 10, each Lender severally, but not jointly, severally agrees, upon Borrowers’ the Borrower's request from time to time on any Business Day during the period from the date hereof Closing Date to the Maturity Termination Date, to make revolving loans (the “"Revolving Loans”") to Borrowersthe Borrower, in amounts not to exceed (except for Bank of America with respect to Non-Ratable Loans and except for the Agent with respect to Agent AdvancesBABC Loans) such Lender’s 's Pro Rata Share of the Borrowers’ Borrower's Revolver Availability. The Lenders, however, in their unanimous discretion, may elect to make Revolving Loans or participate (as provided for in Section 2.4(f)) in the credit support or enhancement provided through the Agent to the issuers of Letters of Credit in excess of the Revolver Availability on one or more occasions, but if they do so, neither the Agent nor the Lenders shall be deemed thereby to have changed the limits of the Total Credit Facility Maximum Revolver Amount or the Revolver Availability or to be obligated to exceed such limits on any other occasion. If the sum of outstanding Revolving Loans and Loans, the aggregate amount of Pending Revolving Loans, together with all outstanding indebtedness owing by Borrowers under all the undrawn amount of outstanding Letters of Credit, Credit and any unpaid reimbursement obligations in respect of Letters of Credit exceeds the Revolver Availability, the Lenders may refuse to make or otherwise restrict the making of Revolving Loans as the Lenders determine until such excess has been eliminated, subject to the Agent’s authority, in its sole discretion, to make Agent Advances pursuant to the terms of subparagraph 2.2(i).
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Amounts. Subject to the satisfaction of the conditions precedent set forth in Section Six and so long as no Default or Event of Default then existsArticle 9, each Lender severally, but not jointly, severally agrees, upon Borrowers’ the Parent's request from time to time on any Business Day during the period from the date hereof to the Maturity Datetime, to make revolving loans (Post-Petition Revolving Loans to the “Revolving Loans”) to Borrowers, in amounts not to exceed (except for Bank of America with respect to Non-Ratable Settlement Loans and except for the Agent with respect to or Agent Advances) such Lender’s 's Pro Rata Share of the Borrowers’ AvailabilityAvailability at such time. The Lenders, however, in their unanimous discretion, may elect to make Revolving Loans or participate (as provided for in Section 2.2(f)) in the credit support or enhancement provided through the Agent to the issuers of Letters of Credit in excess of the Availability on one or more occasions, but if they do so, neither the Agent nor the Lenders shall be deemed thereby to have changed the limits of the Total Credit Facility or the Availability Maximum Revolver Amount or to be obligated to exceed such limits on any other occasion. If the sum of outstanding Post-Petition Revolving Loans and Loans, the aggregate amount of Pending Revolving Loans, together with all outstanding indebtedness owing by Borrowers under all the undrawn amount of outstanding Letters of Credit, Credit and any unpaid reimbursement obligations in respect of Letters of Credit exceeds the AvailabilityMaximum Revolver Amount, Lenders the Lenders, or any of them, may refuse to make or otherwise restrict the making of Revolving Loans on such terms as Lenders the Lenders, or such Lender, may determine until such excess has been eliminated, subject to the Agent’s authority, in its sole discretion, to make Agent Advances pursuant to the terms of subparagraph 2.2(i).
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Samples: Loan and Security Agreement (Laclede Steel Co /De/)
Amounts. Subject to the satisfaction of the conditions precedent set forth in Section Six and so long as no Default or Event of Default then existsArticle VIII, each Lender severally, but not jointly, agrees, upon Borrowers’ a Borrower's request from time to time on any Business Day during the period from the date hereof Closing Date to the Maturity Termination Date, to make revolving loans (the “"Revolving Loans”") to the Borrowers (including Revolving Loans that qualify as Ex-Im Bank Guaranteed Loans under the Borrowers, ' Ex-Im Agreement) in amounts not to exceed (such Lender's Pro Rata Share of Availability, except for Bank of America as set forth herein with respect to Non-Ratable Loans and except for the Agent Advances and, as otherwise set forth herein, with respect to Agent Advances) such Lender’s Pro Rata Share of the Borrowers’ AvailabilityEx-Im Bank Guaranteed Loans. The Lenders, however, in their unanimous discretion, may elect to make Revolving Loans or issue or arrange to have issued Letters of Credit in excess of the Availability Borrowing Base on one or more occasions, but if they do so, neither the Agent nor the Lenders shall be deemed thereby to have changed the limits of the Total Credit Facility or the Availability Borrowing Base or to be obligated to exceed such limits on any other occasion. If the sum of outstanding Revolving Loans and Aggregate Revolver Outstandings would exceed Availability after giving effect to any Borrowing, the aggregate amount of Pending Revolving Loans, together with all outstanding indebtedness owing by Borrowers under all outstanding Letters of Credit, exceeds the Availability, Lenders may refuse to make or may otherwise restrict the making of Revolving Loans as the Lenders determine until such excess has been eliminated, subject to the Agent’s 's authority, in its sole discretion, to make Agent Advances pursuant to the terms of subparagraph 2.2(iSection 1.2(i).
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Samples: Credit Agreement (Unova Inc)