Borrowing Limit. If at any time (as determined by the Administrative Agent under Section 2.6(d)(iv), which determination shall be conclusive absent manifest error): (A) solely because of currency fluctuation, the outstanding principal amount of all Revolving Credit Loans plus the sum of (1) the Swingline Commitment, (2) solely for the purposes of calculating clauses (a) and (b) of the Borrowing Limit, the outstanding Additional Credit Loans and (3) all outstanding L/C Obligations exceeds one hundred and five percent (105%) of the Borrowing Limit (including, without limitation, (x) upon a reduction of the Overadvance Amount pursuant to the definition thereof or Section 8.2(b) or otherwise, (y) pursuant to Section 8.2(b) or (z) as otherwise required by the terms of this Agreement); or (B) for any other reason, the outstanding principal amount of all Revolving Credit Loans plus the sum of (1) the Swingline Commitment, (2) solely for the purposes of calculating clauses (a) and (b) of the Borrowing Limit, the outstanding Additional Credit Loans and (3) all outstanding L/C Obligations exceeds the Borrowing Limit (including, without limitation, (x) upon a reduction of the Overadvance Amount pursuant to the definition thereof or Section 8.2(b) or otherwise, (y) pursuant to Section 8.2(b) or (z) as otherwise required by the terms of this Agreement); then, in each such case, the Borrower agrees to repay (x) if such excess results from a change to the Asset Coverage Amount, within three (3) Business Days following the delivery of the applicable financial statements resulting in such change or (y) in any other circumstance, immediately upon notice from the Administrative Agent, by payment to the Administrative Agent for the account of the Lenders, Extensions of Credit in an amount equal to such excess with each such repayment applied first to the principal amount of outstanding Swingline Loans, second to the principal amount of outstanding Revolving Credit Loans (other than Bankers’ Acceptances and BA Loans) and third, with respect to any Letters of Credit, Bankers’ Acceptances or BA Loans then outstanding, a payment of cash collateral into a cash collateral account opened by the Administrative Agent, for the benefit of the Lenders in an amount equal to the aggregate then undrawn and unexpired amount of such Letters of Credit, Bankers’ Acceptances or BA Loans (such cash collateral to be applied in accordance with Section 2.7(b) or Section 12.2(b)).
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Samples: Credit Agreement (AbitibiBowater Inc.), Credit Agreement (Bowater Inc)
Borrowing Limit. If at any time (as determined by the Administrative Agent under Section 2.6(d)(iv2.4(b)(iv), which determination shall be conclusive absent manifest error):
(A) solely because of currency fluctuation, the outstanding principal amount of all Revolving Credit Loans plus the sum of (1) the Swingline Commitment, (2) solely for the purposes of calculating clauses (a) Commitment and (b) of the Borrowing Limit, the outstanding Additional Credit Loans and (3) all outstanding L/C Obligations exceeds one hundred and five percent (105%) of the Borrowing Limit (including, without limitation, (x1) upon a reduction of the Overadvance Amount pursuant to the definition thereof or Section 8.2(b) or otherwise, (y2) pursuant to Section 8.2(b) or (z3) as otherwise required by the terms of this Agreement); or
(B) for any other reason, the outstanding principal amount of all Revolving Credit Loans plus the sum of (1) the Swingline Commitment, (2) solely for the purposes of calculating clauses (a) Commitment and (b) of the Borrowing Limit, the outstanding Additional Credit Loans and (3) all outstanding L/C Obligations exceeds the Borrowing Limit (including, without limitation, (x1) upon a reduction of the Overadvance Amount pursuant to the definition thereof or Section 8.2(b) or otherwise, (y2) pursuant to Section 8.2(b) or (z3) as otherwise required by the terms of this Agreement); - then, in each such case, the Borrower agrees to repay (x) if such excess results from a change to the Asset Coverage Amount, within three (3) Business Days following the delivery of the applicable financial statements resulting in such change or (y) in any other circumstance, immediately upon notice from the Administrative Agent, by payment to the Administrative Agent for the account of the Lenders, Extensions of Credit in an amount equal to such excess with each such repayment applied first to the principal amount of outstanding Swingline Loans, second to the principal amount of outstanding Revolving Credit Loans (other than Bankers’ ' Acceptances and BA Loans) and third, with respect to any Letters of Credit, Bankers’ ' Acceptances or BA Loans then outstanding, a payment of cash collateral into a cash collateral account opened by the Administrative Agent, for the benefit of the Lenders in an amount equal to the aggregate then undrawn and unexpired amount of such Letters of Credit, Bankers’ ' Acceptances or BA Loans (such cash collateral to be applied in accordance with Section 2.7(b2.5(b) or Section 12.2(b)).
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Borrowing Limit. If at any time (as determined by the Administrative Agent under Section 2.6(d)(iv2.4(b)(iv), which determination shall be conclusive absent manifest error):
(A) solely because of currency fluctuation, the outstanding principal amount of all Revolving Credit Loans plus the sum of (1) the Swingline Commitment, (2) solely for the purposes of calculating clauses (a) Commitment and (b) of the Borrowing Limit, the outstanding Additional Credit Loans and (3) all outstanding L/C Obligations exceeds one hundred and five percent (105%) of the Borrowing Limit (including, without limitation, (x1) upon a reduction of the Overadvance Amount pursuant to the definition thereof or Section 8.2(b) or otherwise, (y2) pursuant to Section 8.2(b) or (z3) as otherwise required by the terms of this Agreement); or
(B) for any other reason, the outstanding principal amount of all Revolving Credit Loans plus the sum of (1) the Swingline Commitment, (2) solely for the purposes of calculating clauses (a) Commitment and (b) of the Borrowing Limit, the outstanding Additional Credit Loans and (3) all outstanding L/C Obligations exceeds the Borrowing Limit (including, without limitation, (x1) upon a reduction of the Overadvance Amount pursuant to the definition thereof or Section 8.2(b) or otherwise, (y2) pursuant to Section 8.2(b) or (z3) as otherwise required by the terms of this Agreement); - then, in each such case, the Borrower agrees to repay (x) if such excess results from a change to the Asset Coverage Amount, within three (3) Business Days following the delivery of the applicable financial statements resulting in such change or (y) in any other circumstance, immediately upon notice from the Administrative Agent, by payment to the Administrative Agent for the account of the Lenders, Extensions of Credit in an amount equal to such excess with each such repayment applied first to the principal amount of outstanding Swingline Loans, second to the principal amount of outstanding Revolving Credit Loans (other than Bankers’ Acceptances and BA Loans) and third, with respect to any Letters of Credit, Bankers’ Acceptances or BA Loans then outstanding, a payment of cash collateral into a cash collateral account opened by the Administrative Agent, for the benefit of the Lenders in an amount equal to the aggregate then undrawn and unexpired amount of such Letters of Credit, Bankers’ Acceptances or BA Loans (such cash collateral to be applied in accordance with Section 2.7(b2.5(b) or Section 12.2(b)).
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Samples: Credit Agreement (Bowater Inc)