Common use of Borrowing Availability Clause in Contracts

Borrowing Availability. After giving effect to such extension of credit requested to be made on such date, (i) the sum of the Total Working Capital Facility Extensions of Credit and the Total Acquisition Facility Working Capital Extensions of Credit shall not exceed the Aggregate Borrowing Base Amount as of such date, (ii) the Total Acquisition Facility Acquisition Extensions of Credit shall not exceed the Eligible Acquisition Asset Value, (iii) the Total Acquisition Facility Extensions of Credit shall not exceed the aggregate Acquisition Facility Commitments, (iv) the Total Dollar Working Capital Facility Extensions of Credit shall not exceed the aggregate Dollar Working Capital Facility Commitments, (v) the Total Multicurrency Working Capital Facility Extensions of Credit shall not exceed the aggregate Multicurrency Working Capital Facility Commitments, (vi) such extension of credit shall not result in any Applicable Sub-Limit (with each Applicable Sub-Limit calculated including the Dollar Equivalent of any included Extensions of Credit denominated in Canadian Dollars) being exceeded, (vii) with respect to any such extension of credit under the Acquisition Facility, the Loan Parties shall be in compliance with the covenants set forth in Section 8.1 calculated on a Pro Forma Basis, and (viii) the Administrative Agent shall have received a certificate of a Responsible Person of the U.S. Borrower (such certificate, the “Availability Certification”) certifying as to the satisfaction of each of the specific conditions set forth in Sections 6.2(b) and (c) and clauses (i)-(vii) of Section 6.2(e) as of such date.

Appears in 3 contracts

Samples: Credit Agreement (Sprague Resources LP), Credit Agreement (Sprague Resources LP), Credit Agreement

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Borrowing Availability. After giving effect to such extension of credit requested to be made on such date, (i) the sum of the Total Working Capital Facility Extensions of Credit and the Total Acquisition Facility Working Capital Extensions of Credit shall not exceed the Aggregate Borrowing Base Amount as of such date, (ii) the Total Acquisition Facility Acquisition Extensions of Credit shall not exceed the Eligible Acquisition Asset Value, (iii) the Total Acquisition Facility Extensions of Credit shall not exceed the aggregate Acquisition Facility Commitments, (iv) the Total Dollar Working Capital Facility Extensions of Credit shall not exceed the aggregate Dollar Working Capital Facility Commitments, (v) the Total Multicurrency Working Capital Facility Extensions of Credit shall not exceed the aggregate Multicurrency Working Capital Facility Commitments, (vi) such extension of credit shall not result in any Applicable Sub-Limit (with each Applicable Sub-Limit calculated including the Dollar Equivalent of any included Extensions of Credit denominated in Canadian Dollars) being exceeded, (viivi) with respect to any such extension of credit under the Acquisition Facility, the Loan Parties shall be in compliance with the covenants set forth in Section 8.1 calculated on a Pro Forma Basis, and (viiivii) the Administrative Agent shall have received a certificate of a Responsible Person of the U.S. Borrower (such certificate, the “Availability Certification”) certifying as to the satisfaction of each of the specific conditions set forth in Sections 6.2(b) and (c) and clauses (i)-(viii)-(vi) of Section 6.2(e) as of such date.

Appears in 2 contracts

Samples: Credit Agreement (Sprague Resources LP), Credit Agreement (Sprague Resources LP)

Borrowing Availability. After giving effect to such extension of credit requested to be made on such date, (i) the sum of the Total Working Capital Facility Extensions of Credit and the Total Acquisition Facility Working Capital Extensions of Credit shall not exceed the Aggregate Borrowing Base Amount as of such dateTotal Commitment, (ii) the Total Acquisition Facility Acquisition Extensions of Credit shall not exceed the Eligible Acquisition Asset Value, (iii) the Total Acquisition Facility Outstanding Revolving Extensions of Credit shall not exceed the aggregate Acquisition Facility Revolving Commitments, (iii) the Credit-Linked L/C Obligations shall not exceed the aggregate Credit-Linked Commitments, (iv) the Total Dollar Working Capital Facility Extensions of Credit Aggregate Borrowing Base Availability shall not exceed be less than the aggregate Dollar Working Capital Facility CommitmentsMinimum Aggregate Borrowing Base Availability at the time of, or after giving effect to the making of, such extension of credit, (v) if no Overline Usage Period is in effect, the Total Multicurrency Working Capital Facility Extensions L/C Obligations of Credit any Subsidiary Borrower shall not exceed the aggregate Multicurrency Working Capital Facility CommitmentsIndividual Gross Borrowing Base of such Subsidiary Borrower, (vi) if an Overline Usage Period is in effect, the aggregate Overline Extensions of Credit (other than Revolving Credit Loans allocated to Subsidiary Borrowers pursuant to Section 2.1(c)) shall not exceed the Overline Credit Limit on such date, (vii) such extension of credit shall not result in any Applicable Sub-Limit (with each Applicable Sub-Limit calculated including the Dollar Equivalent of any included Extensions of Credit denominated in Canadian Dollars) being exceeded, (vii) with respect to any such extension of credit under the Acquisition Facility, the Loan Parties shall be in compliance with the covenants set forth in Section 8.1 calculated on a Pro Forma Basis, and (viii) the Administrative Agent shall have received a certificate of a Responsible Person of the U.S. Borrowers’ Agent on behalf of the applicable Borrower (such certificate, the “Availability Certification”) certifying as to stating that the satisfaction of each of the specific conditions set forth statements in Sections 6.2(b) and (c) and clauses (i)-(vii) of this Section 6.2(e) are true and correct as of such date. Each borrowing of a Loan and issuance of a Letter of Credit on behalf of the Borrowers hereunder shall constitute a representation and warranty by the Borrowers as of the date thereof that the conditions contained in this Section 6.2 (and Section 6.3 if applicable) have been satisfied.

Appears in 1 contract

Samples: Credit Agreement (SemGroup Corp)

Borrowing Availability. After giving effect to such extension of credit requested to be made on such date, (i) the sum of the Total Working Capital Facility Extensions of Credit and the Total Acquisition Facility Working Capital Extensions of Credit shall not exceed the Aggregate Borrowing Base Amount as of such date, , (ii) the Total Acquisition Facility Acquisition Extensions of Credit shall not exceed the Eligible Acquisition Asset Value, , (iii) the Total Acquisition Facility Extensions of Credit shall not exceed the aggregate Acquisition Facility Commitments, , (iv) the Total Dollar Working Capital Facility Committed Tranche Extensions of Credit shall not exceed the aggregate Dollar Working Capital Facility Commitments, , (v) the Total Dollar Working Capital Facility Uncommitted Tranche Extensions of Credit shall not exceed the Total Dollar Working Capital Facility Uncommitted Tranche Portions (vi) the Total Multicurrency Working Capital Facility Extensions of Credit shall not exceed the aggregate Multicurrency Working Capital Facility Commitments, , (vivii) such extension of credit shall not result in any Applicable Sub-Limit (with each Applicable Sub-Limit calculated including the Dollar Equivalent of any included Extensions of Credit denominated in Canadian Dollars) being exceeded, , (viiviii) with respect to any such extension of credit under the Acquisition Facility, the Loan Parties shall be in compliance with the covenants set forth in Section 8.1 calculated on a Pro Forma Basis, and and (viiiix) the Administrative Agent shall have received a certificate of a Responsible Person of the U.S. Borrower (such certificate, the “Availability Certification”) certifying as to the satisfaction of each of the specific conditions set forth in Sections 6.2(b) and (c) and clauses (i)-(viii)-(viii) of Section 6.2(e) as of such date.

Appears in 1 contract

Samples: Credit Agreement (Sprague Resources LP)

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Borrowing Availability. After giving effect to such extension of credit requested to be made on such date, (i) the sum of the Total Working Capital Facility Extensions of Credit and the Total Acquisition Facility Working Capital Extensions of Credit shall not exceed the Aggregate Borrowing Base Amount as of such date, (ii) the Total Acquisition Facility Acquisition Extensions of Credit shall not exceed the Eligible Acquisition Asset Value, (iii) the Total Acquisition Facility Extensions of Credit shall not exceed the aggregate Acquisition Facility Commitments, (iv) the Total Dollar Working Capital Facility Committed Tranche Extensions of Credit shall not exceed the aggregate Dollar Working Capital Facility Commitments, (v) the Total Dollar Working Capital Facility Uncommitted Tranche Extensions of Credit shall not exceed the Total Dollar Working Capital Facility Uncommitted Tranche Portions (vi) the Total Multicurrency Working Capital Facility Extensions of Credit shall not exceed the aggregate Multicurrency Working Capital Facility Commitments, (vivii) such extension of credit shall not result in any Applicable Sub-Limit (with each Applicable Sub-Limit calculated including the Dollar Equivalent of any included Extensions of Credit denominated in Canadian Dollars) being exceeded, (viiviii) with respect to any such extension of credit under the Acquisition Facility, the Loan Parties shall be in compliance with the covenants set forth in Section 8.1 calculated on a Pro Forma Basis, and (viiiix) the Administrative Agent shall have received a certificate of a Responsible Person of the U.S. Borrower (such certificate, the “Availability Certification”) certifying as to the satisfaction of each of the specific conditions set forth in Sections 6.2(b) and (c) and clauses (i)-(viii)-(viii) of Section 6.2(e) as of such date.

Appears in 1 contract

Samples: Credit Agreement (Sprague Resources LP)

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