Common use of Commitment to Lend Clause in Contracts

Commitment to Lend. (a) Each Lender severally agrees, on the terms and conditions set forth herein, to make its pro rata share of Revolving Loans to the Borrower from time to time before the Termination Date, provided that, immediately after each such Revolving Loan is made, (i) with respect to each Lender individually, the aggregate principal amount of Revolving Loans made or attributable to such Lender shall not exceed such Lender’s Commitment, and (ii) with respect to the Lenders collectively, the aggregate outstanding principal amount of all Revolving Loans plus the aggregate principal amount of all outstanding Swingline Loans and the aggregate amount of all Letter of Credit Liabilities shall not exceed the Lenders’ aggregate Commitment. (b) Each Borrowing (whether for an Alternate Base Rate Loan or a LIBOR Rate Loan) under this Section shall be in an aggregate principal amount of $5,000,000 or any larger multiple of $1,000,000 (except that any such Borrowing may be in the aggregate outstanding amount of the unborrowed Commitment). (c) Within the foregoing limits, the Borrower may borrow under this Section, repay or, to the extent permitted by Section 2.11, prepay Revolving Loans and reborrow under this Section at any time before the Termination Date.

Appears in 11 contracts

Samples: Credit Agreement (South Carolina Electric & Gas Co), Five Year Credit Agreement (South Carolina Electric & Gas Co), Five Year Credit Agreement (South Carolina Electric & Gas Co)

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Commitment to Lend. (a) Each Lender severally agrees, on the terms and conditions set forth herein, to make its pro rata share of Revolving Loans to the Borrower from time to time before the Termination Date, provided that, immediately after each such Revolving Loan is made, (i) with respect to each Lender individually, the aggregate principal amount of Revolving Loans made or attributable to such Lender shall not exceed such Lender’s Commitment, and (ii) with respect to the Lenders collectively, the aggregate outstanding principal amount of all Revolving Loans plus the aggregate principal amount of all outstanding Swingline Loans and the aggregate amount of all Letter of Credit Liabilities shall not exceed the Lenders’ aggregate Commitment. (b) Each Borrowing (whether for an Alternate Base Rate Loan or a LIBOR Rate Loan) under this Section shall be in an aggregate principal amount of $5,000,000 or any larger multiple of $1,000,000 (except that any such Borrowing may be in the aggregate outstanding amount of the unborrowed Commitment). (c) Within the foregoing limits, the Borrower may borrow under this Section, repay or, to the extent permitted by Section 2.11, prepay Revolving Loans and reborrow under this Section at any time before the Termination Date.

Appears in 3 contracts

Samples: Five Year Credit Agreement (South Carolina Electric & Gas Co), Credit Agreement (Scana Corp), Credit Agreement (Scana Corp)

Commitment to Lend. (a) Each Lender severally agrees, on the terms and conditions hereinafter set forth hereinforth, to make its pro rata share of Revolving Loans to the Borrower from time to time before on any Business Day during the Termination period from the Closing Date to the Maturity Date, provided thatin an aggregate amount not to exceed at any time outstanding the amount of such Lender's Commitment and in a combined amount for all Lenders not to exceed at any time outstanding the Total Commitment; provided, however, that immediately after each such Revolving Loan is made, (i) with respect giving effect to each Lender individuallyany Borrowing of Loans, the aggregate principal amount sum of Revolving Loans made or attributable to such Lender shall not exceed such Lender’s Commitment, and (ii) with respect to the Lenders collectively, the aggregate outstanding principal amount of all Revolving Loans plus the aggregate principal amount of all of the outstanding Swingline Loans and Loans, plus the aggregate amount of all outstanding Letter of Credit Liabilities Obligations shall not exceed the Lenders’ aggregate Commitment. (b) Total Commitment then in effect. Each Borrowing (whether for an Alternate Base Rate Loan or that is a LIBOR Rate Loan) Euro-Dollar Borrowing under this Section 2.01 shall be in an aggregate principal amount of $5,000,000 or any larger multiple of $1,000,000 (except and each Borrowing that any such is a Base Rate Borrowing may under this Section 2.01 shall be in the an aggregate outstanding principal amount of $2,500,000 or any larger multiple of $500,000 and shall be made from the unborrowed Commitment). (c) several Lenders ratably in proportion to their respective Commitments. Within such limits, and subject to the foregoing limitsother terms and conditions hereof, the Borrower may borrow under this Section, repay or, to the extent permitted by Section 2.11, prepay Revolving Loans and reborrow under this Section 2.01, prepay Loans pursuant to Section 2.09 and reborrow Loans pursuant to this Section 2.01 at any time before the Termination Maturity Date.

Appears in 2 contracts

Samples: Credit Agreement (Meredith Corp), Credit Agreement (Meredith Corp)

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Commitment to Lend. (a) Each Lender severally agrees, on the terms and conditions set forth herein, to make its pro rata share of Revolving Loans to the Borrower from time to time before the Termination Date, provided that, immediately after each such Revolving Loan is made, (i) with respect to each Lender individually, the aggregate principal amount of Revolving Loans made or attributable to such Lender shall not exceed such Lender’s Commitment, and (ii) with respect to the Lenders collectively, the aggregate outstanding principal amount of all Revolving Loans plus the aggregate principal amount of all outstanding Swingline Loans and the aggregate amount of all Letter of Credit Liabilities shall not exceed the Lenders’ aggregate Commitment. (b) . Each Borrowing (whether for an Alternate Base Rate Loan or a LIBOR Rate Loan) under this Section shall be in an aggregate principal amount of $5,000,000 or any larger multiple of $1,000,000 (except that any such Borrowing may be in the aggregate outstanding amount of the unborrowed Commitment). (cb) Within the foregoing limits, the Borrower may borrow under this Section, repay or, to the extent permitted by Section 2.112.09, prepay Revolving Loans and reborrow under this Section at any time before the Termination Date.

Appears in 1 contract

Samples: Five Year Credit Agreement (South Carolina Electric & Gas Co)

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